# EDGAR Filing Document

**Accession Number:** 0001678848
**File Stem:** 0001213900-23-002129
**Filing Date:** 2023-1
**Character Count:** 700886
**Document Hash:** f8e2e90e1351410ee98f7bc3dd0e4cfe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-002129.hdr.sgml**: 20230111

**ACCESSION NUMBER**: 0001213900-23-002129

**CONFORMED SUBMISSION TYPE**: 8-K/A

**PUBLIC DOCUMENT COUNT**: 28

**CONFORMED PERIOD OF REPORT**: 20221230

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Changes in Control of Registrant

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230111

**DATE AS OF CHANGE**: 20230111

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BITMIS CORP.
- **CENTRAL INDEX KEY:** 0001678848
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
- **IRS NUMBER:** 981310024
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-214469
- **FILM NUMBER:** 23522528

**BUSINESS ADDRESS:**
- **STREET 1:** UNIT NO. 5784
- **STREET 2:** 152 CHARTERED SQUARE BUILDING, 212/19
- **CITY:** BANGKOK
- **STATE:** W1
- **ZIP:** 10500
- **BUSINESS PHONE:** 7026050123

**MAIL ADDRESS:**
- **STREET 1:** UNIT NO. 5784
- **STREET 2:** 152 CHARTERED SQUARE BUILDING, 212/19
- **CITY:** BANGKOK
- **STATE:** W1
- **ZIP:** 10500

?xml version="1.0" encoding="utf-8"?

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM 8-K/A**

**Amendment No. 1**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)** 

**of the Securities Exchange Act of 1934** 

Date of Report (date of earliest event reported): December 30, 2022

**<u>BITMIS CORP.</u>**

(Exact Name of Registrant as Specified in its Charter)

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| | | |
|:---|:---|:---|
| **Nevada** | **333-214469** | **98-1310024** |
| (State of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |

---

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| | |
|:---|:---|
| **1-17-1 Zhaojia Road**<br>**Xinglongtai District**<br>**Panjin City, Liaoning Province**<br>**People's Republic of China** | **124000** |
| (Address of principal executive offices) | (Zip Code) |

---

**<u>+86 15842767931</u>**

(Registrant's telephone number, including area code)

**<u>400 Blake St. Apt 3401, New Haven, Connecticut 06515</u>**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered under Section 12(g) of the Exchange Act: None

Securities registered pursuant to Section 12(b) of the Act: None

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| N/A | N/A | N/A |

---

**TABLE OF CONTENTS**

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| | | |
|:---|:---|:---|
| **Item No.** | **Description of Item** | **Page No.** |
| Item 1.01 | [Entry Into a Material Definitive Agreement](#a_001) | 1 |
| Item 2.01 | [Completion of Acquisition or Disposition of Assets](#a_002) | 1 to 73 |
| Item 3.02 | [Unregistered Sales of Equity Securities](#a_003) | 73 |
| Item 5.01 | [Change in Control of Registrant](#a_004) | 73 |
| Item 5.02 | [Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers](#a_005) | 73 |
| Item 9.01 | [Financial Statements and Exhibits](#a_006) | 73 to 74 |

---

i

**SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS**

This report contains forward-looking statements. The forward-looking statements are contained principally in the sections entitled "Business," "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations." These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any historical results and future results, performances or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, the factors described in the section captioned "Risk Factors" and the following factors:

● Our independent registered auditors have expressed substantial doubt about our ability to continue as a going concern.

● We may continue to incur losses in the future, and may not be able to return to profitability, which may cause the market price of our shares to decline.

● Our business plan is based on a relatively new model that may not be successful and we may not successfully implement our business strategies.

In some cases, you can identify forward-looking statements by terms such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "would" and similar expressions intended to identify forward-looking statements. Forward-looking statements reflect our current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent our estimates and assumptions only as of the date of this report. You should read this report and the documents that we reference and filed as exhibits to the report completely and with the understanding that our actual future results may be materially different from what we expect. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.

ii

**USE OF CERTAIN DEFINED TERMS**

In addition, unless the context otherwise requires and for the purposes of this report only, references to:

● "we," "us," "our," "Bitmis," or "our company," are to the combined business of Bitmis Corp. a Nevada corporation, and its subsidiaries and other consolidated entities;

● "Cambell International" are to Cambell International Holding Limited, a British Virgin Islands company and wholly-owned subsidiary of Bitmis Corp.;

● "Win&win" are to Win&win Industrial Development Company Ltd, a British Virgins Islands company and wholly-owned subsidiary of Cambell;

● "BJK Holding" are to BJK Holding Group Limited, a Hong Kong company and wholly-owned subsidiary of Win&win;

● "Baijiakang Consulting" or "WFOE" are to Baijiakang (Liaoning) Health Information Consulting Services Co., Ltd. (WFOE) a limited liability company organized under the laws of the PRC, which is wholly-owned by BJK Holding;

● "Liaoning Kangbaier" or "VIE" are to Liaoning Kangbaier Biotechnology Development Co., Ltd, a limited liability company organized under the laws of the PRC, which we control via a series of contractual arrangements (the VIE Agreements) among WFOE, Liaoning Kangbaier and shareholders of Liaoning Kangbaier;

● "China" and "PRC" refer to the People's Republic of China, excluding, for the purposes of this report only, Hong Kong, Macau and Taiwan;

● "our PRC operating entities" are to our mainland China-based subsidiary, the VIE and the VIE's subsidiaries

● PRC laws and regulations are to the laws and regulations of China;

● "Renminbi" and "RMB" refer to the legal currency of China;

● "U.S. dollars, "dollars" and "$" refer to the legal currency of the United States;

● "SEC" are to the U.S. Securities and Exchange Commission;

● "Exchange Act" are to the Securities Exchange Act of 1934, as amended;

● "Securities Act" are to the Securities Act of 1933. As amended;

● "VIE" are to variable interest entity or Liaoning Kangbaier, as the case may be;

● "VIE Agreements" are to a series of contractual arrangements, including the "Consulting Service Agreement", the "Business Operation Agreement", the "Proxy Agreement", the "Equity Disposal Agreement" and "Equity Pledge Agreement", as described herein.

**MARKET DATA AND FORECAST**

Unless otherwise indicated, information in this current report on Form 8-K concerning economic conditions and our industry is based on information from independent industry analysts and publications, as well as our estimates. Except where otherwise noted, our estimates are derived from publicly available information released by third-party sources, as well as data from our internal research, and are based on such data and knowledge of our industry, which we believe to be reasonable. None of the independent industry publications used in this report was prepared on our or our affiliates' behalf. We acknowledge our responsibility for all disclosures in this report, but caution readers that we have not independently verified the underlying information in such publications and reports.

This report also contains data related to the elderly care industry. These market data include estimates and projections that are based on a number of assumptions. If any one or more of the assumptions underlying the market data turn out to be incorrect, actual results may differ significantly from the projections.

iii

**Item 1.01. Entry into a Material Definitive Agreement**

The information contained in Item 2.01 below relating to the various agreements described therein is incorporated herein by reference.

**Item 2.01 Completion of Acquisition or Disposition of Assets**

**The Share Exchange with Cambell International Holding Limited** 

On December 30, 2022, we entered into a share exchange agreement ("Share Exchange Agreement") with (i) Cambell International Holding Limited ("Cambell International"), a limited liability company incorporated in British Virgin Islands on September 23, 2020 and (ii) the shareholders of Cambell International (the "Cambell Shareholders") to acquire all the issued and outstanding capital stock of Cambell International in exchange for the issuance to the Cambell Shareholders of an aggregate of 1,000,000 shares (the "Shares") of our common stock and the transfer by Ms. Xiaoyan to the Cambell Shareholders of 9,000,000 shares of our Series A Preferred Stock owned by her ("Reverse Acquisition"). The Reverse Acquisition was closed on December 30, 2022.

None of Cambell International's stockholders is a U.S. Person (as that term is defined in Regulation S of the Securities Act of 1933) and Cambell International acquired our shares in the Reverse Merger outside of the United States.

In issuing these securities to Cambell International's stockholders, we relied upon the exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act") provided by Section 4(a)(2) of the Securities Act, which exempts transactions by an issuer not involving any public offering, and/or Regulation S promulgated by the U.S. Securities and Exchange Commission (the "SEC"). Among other things, the offer or sale was made in an offshore transaction and no directed selling efforts were made in the United States by the issuer, a distributor, any of their respective affiliates, or any person acting on behalf of any of the foregoing. In addition, each of the recipients of the shares certified that he/she/it is not a U.S. person and is not acquiring the securities for the account or benefit of any U.S. person and agreed to resell such securities only in accordance with the provisions of Regulation S, pursuant to registration under the Act, or pursuant to an available exemption from registration; and agreed not to engage in hedging transactions with regard to such securities unless in compliance with the Act.

**Accounting Treatment; Change of Control**

Pursuant to the "Reverse Acquisition," Cambell International is deemed to be the acquirer. Consequently, the assets and liabilities and the historical operations that will be reflected in the financial statements prior to the Business Combination will be those of Cambell International and its consolidated subsidiaries and will be recorded at the historical cost basis of Cambell International, and the consolidated financial statements after consummation of the Business Combination will include the assets and liabilities of Cambell International and its subsidiaries and VIE, historical operations of Cambell International and its subsidiaries and VIE, and operations of Bitmis Corp. from the Closing Date of the Reverse Acquisition.

Pursuant to the Business Combination, a change of control of Bitmis Corp. occurred as of the Closing Date. Except as described in this Report, no arrangements or understandings exist among present or former controlling shareholders with respect to the election of members of our Board and, to our knowledge, no other arrangements exist that might result in a change of control of the Bitmis Corp.

We continue to be a "smaller reporting company," as defined under the Exchange Act, following the Reverse Acquisition.

**DESCRIPTION OF BUSINESS**

***Corporate History and Structure***

*Bitmis Corp.* 

Bitmis Corp. was founded in the State of Nevada on June 6, 2016. The Company originally intended to commence operations in the business of consulting in Thailand, but it was not successful. On February 24, 2020, Anna Varlamova, the president, treasurer, secretary, and director of Bitmis Corp. sold 5,000,000 shares of the Company's common stock, representing 80% of its total issued and outstanding shares of common stock, in a private transaction to Li Wen Chen (1,250,000 shares), Bi Feng Zhao (1,000,000 shares), Heng Jian Yang (1,000,000 shares), Kin Chiu Leung (1,000,000 shares), Jin Jia Mai (750,000 shares) and Zhong Xiong Chen (500,000) (collectively, the "Purchasers") for an aggregate purchase price of $395,000. The share ownership of the Purchasers represented, respectively, 20%, 16%, 16%, 12%, 8% and 8% of the total issued and outstanding shares of common stock of the Company.

In December 2019, a novel strain of coronavirus, causing a disease referred to as COVID-19, was reported to have surfaced in Wuhan, China which spread all over China and throughout the world. In March 2020, the World Health Organization declared the COVID-19 outbreak a pandemic which resulted in quarantines, travel restrictions, shelter-in-place, and other restrictions. The global economy was materially negatively affected by COVID-19 and the Company's business and results of operations were negatively impacted by its inability to visit and meet clients in China for potential merger and acquisition projects as well as a significant disruption of global financial markets, reducing the Company's ability to access capital, potentially negatively affecting the Company's liquidity.

On July 8, 2020, the Board of Directors received resignation letters from Mr. Zhong Xiong Chen, a member of the Board, and Ms. Li Wen Chen, a member of the Board and Chief Financial Officer of the Company, both citing personal reasons and both effective on July 8, 2020.

The Company has been dormant since July 2020.

On April 12, 2022, the Eighth Judicial District Court in Clark County, Nevada Case No: A-22-849683-B appointed Custodian Ventures, managed by David Lazar as the Company's custodian. Upon his appointment all former officers and directors of the Company resigned.

David Lazar, 31, a private investor, has been CEO and Chairman of the Company since December 9, 2021. Mr. Lazar has been a partner at Zenith Partners International since 2013, where he specializes in research and development, sales, and marketing. From 2014 through 2015, he was the Chief Executive Officer of Dico, Inc., which was then sold to Peekay Boutiques. Since February of 2018, Mr. Lazar has been the managing member of Custodian Ventures LLC, where he specializes in assisting distressed public companies. Since March 2018, he has acted as the managing member of Activist Investing LLC, which specializes in active investing in distressed public companies. Mr. Lazar has a diverse knowledge of financial, legal, and operations management, public company management, accounting, audit preparation, due diligence reviews, and SEC regulations.

On September 22, 2022, as a result of a private transaction, 10,000,000 shares of the Company's Series A Preferred Stock, $0.001 par value per share, were transferred from Custodian Ventures LLC, a Wyoming limited liability company, to Yuan Xiaoyan (the "Purchaser") for a cash consideration of $430,000 constituting personal funds of the Purchaser. As a result, the Purchaser became the holder of 90% of the voting rights of the issued and outstanding share capital of the Company.

On September 22, 2022, David Lazar, resigned as the Company's Chief Executive Officer, Chief Financial Officer, President, Treasurer, Secretary, and a director. Concurrently and effective on the date of the transfer, Yuan Xiaoyan consented to act as the Company's Chief Executive Officer, President, Chief Financial Officer, and a director and also assumed the positions of Secretary and Treasurer.

Ms. Xiaoyan Yuan (age 34). Ms. Yuan, from 2020 to 2022 served as the assistant to the Chairman of the overseas listing group of small and medium-sized enterprises, mainly engaged in listing advisory services, and responsible for assisting enterprises to complete various preparations before listing. From 2016 to 2020, she worked as the project manager of China Enterprise Finance (Beijing) Investment Fund Co., LTD., responsible for the implementation of the matters in the establishment and operation of the fund, the post-investment tracking of the invested projects, and the regular analysis of the fund and project ROI and valuation changes. From 2013 to 2016, she served as the administrative officer of United Business Association Beijing Representative Office, assisting in the preparation of various meetings and documents, and maintaining close contact with member units. Ms. Yuan attended Haibin College, Beijing Jiaotong University.

 

*Cambell International Holding Limited* 

 

Cambell International Holding Limited ("Cambell International") was incorporated in the British Virgin Islands on September 23, 2020.

On December 30, 2022, Cambell International entered into the Share Exchange Agreement with Bitmis Corp. and the shareholders of Cambell International to acquire all the issued and outstanding capital of Cambell International in exchange for the issuance by Bitmis Corp. of an aggregate of 1,000,000 shares of our common stock to those shareholders ("Reverse Acquisition"). As a condition of closing of the Reverse Acquisition, Ms. Xiaoyan Yuan transferred to the Cambell Shareholders 9,000,000 shares of Bitmis' Series A Preferred Stock, $0.001 par value per share (the "Preferred Shares") owned by her. After the Reverse Acquisition, Cambell International became a wholly-owned subsidiary of Bitmis Corp. on December 30, 2022.

*Win&win Industrial Development Company Ltd.*

Win&win Industrial Development Company Ltd, a British Virgins Island company formed on November 3<sup>rd</sup>, 2020, ("Win&win"), is a wholly owned subsidiary of Cambell International which was established in connection with the Company's intent to become listed.

*BJK Holding Group Limited*

BJK Holding Group Limited, a Hong Kong company, ("BJK Holding") is a wholly owned subsidiary of Win&win formed on November 30, 2020., originally incorporated as Yangtze River Holding Group Limited, it changed its name to Baijiakang Holding Group Limited on August 31, 2021.

*Baijiakang (Liaoning) Health Information Consulting Services Co., Ltd.*

Baijiakang (Liaoning) Health Information Consulting Service*s* Co., Ltd. ("Baijiakang Consulting") a wholly owned subsidiary of BJK Holding was formed on February 16, 2022 as a limited company pursuant to PRC law (WFOE).

*Liaoning Kangbaier Biotechnology Development Co., Ltd*

Liaoning Kangbaier Biotechnology Development Co., Ltd., ("Liaoning Kangbaier"), the VIE, was formed under the laws of the PRC on September 22, 2015. We operate our research, development, production, and marketing business of Natural B-carotene based nutritional products through Liaoning Kangbaier and its wholly owned subsidiaries, Doron Kangbaier Biotechnology Co. Ltd., and Liaoning BaiJiaKang Health Technology Co. Ltd., in China.

Pursuant to PRC law, each entity formed under PRC law must have a business scope as submitted to the Administration for Market Regulation or its local counterpart. Depending on the particular business scopes, approval by the relevant competent regulatory agencies may be required prior to commencement of business operations. Since the sole business of WFOE is to provide Liaoning Kangbaier with technical support, consulting services and other management services relating to its day-to-day business operations and management in exchange for a service fee approximately equal all pre-tax profits of Liaoning Kangbaier and its subsidiaries (minus any accumulated losses (if any) of Liaoning Kangbaier and its subsidiaries in the previous fiscal year, and the amount required for operating funds, expenditures, taxes and other statutory contributions in any particular fiscal year), such business scope is appropriate under PRC law. Liaoning Kangbaier on the other hand, is also able to, pursuant to its business scope, conduct manufacturing business of nutritional products. Liaoning Kangbaier is approved by the Market Regulation Bureau of Panjin to engage in its business.

We control Liaoning Kangbaier through a series of contractual arrangements, or "VIE Agreements", which are described under "*Contractual Arrangements among WFOE, Liaoning Kangbaier and Liaoning Kangbaier Shareholders.*" The VIE Agreements are designed so that the operations of the VIE are solely for the benefit of WFOE and ultimately, the Company. As such, under U.S. GAAP, the Company is deemed to have a controlling financial interest in, and be the primary beneficiary of, the VIE for accounting purposes only and must consolidate the VIE because we meet the conditions under the U.S. GAAP to consolidate the VIE.

The following diagram illustrates our corporate structure as of the date of this Report:

![](image_001.jpg)

(1) Consulting
 Service Agreement

(2) Business
 Operation Agreement

(3) Proxy
 Agreement

(4) Equity
 Disposal Agreement

(5) Equity
 Pledge Agreement

*Contractual Arrangements among WFOE, Liaoning Kangbaier and Liaoning Kangbaier's Shareholders* 

While we do not have any equity interest in our consolidated affiliated entities, we have been and are expected to continue to be dependent on them to operate our business as long as there is limitation or prohibition in the interpretation and application by local governments of regulations concerning foreign investments in companies such as our consolidated affiliated entities. We rely on our consolidated affiliated entities to maintain or renew their respective qualifications, licenses or permits necessary for our business in China. We believe that under the VIE Agreements, we have substantial control over our consolidated affiliated entities and their respective shareholders to renew, revise or enter into new contractual arrangements prior to the expiration of the current arrangements on terms that would enable us to continue to operate our business in China after the expiration of the current arrangements, or pursuant to certain amendments and changes of the current applicable PRC laws, regulations and rules on terms that would enable us to continue to operate our business in China legally. While we currently do not anticipate any changes to PRC laws in the near future that may impact our ability to carry out our business in China, no assurances can be made in this regard. See "*Risk Factors—Risks Related to Doing Business in China—Changes in China's economic, political or social conditions or government policies could have a material adverse effect on our business and operations.*" and "*Risk Factors—Risks Related to Doing Business in China—Uncertainties with respect to the PRC legal system could adversely affect us.*" For a detailed description of the risks associated with our corporate structure and the contractual arrangements that support our corporate structure, see "*Risk Factors—Risks Related to Our Corporate Structure*."

The following is a summary of the VIE Agreements among the WFOE, Liaoning Kangbaier and Liaoning Kangbaier's Shareholders.

On November 27, 2022, Baijiakang Consulting, Liaoning Kangbaier and Liaoning Kangbaier's Shareholders. entered into a series of contractual agreements for Liaoning Kangbaier to qualify as variable interest entity or VIE (the "VIE Agreements"). The VIE Agreements are summarized as follows:

<u>Consulting Service Agreement</u>

Pursuant to the terms of the Exclusive Consulting and Service Agreement dated November 27, 2022, between Baijiakang Consulting and Liaoning Kangbaier (the "Consulting Service Agreement"), Baijiakang Consulting is the exclusive consulting and service provider to Liaoning Kangbaier to provide business-related software research and development services; design, installation, and testing services; network equipment support, upgrade, maintenance, monitor, and problem-solving services; employees training services; technology development and sublicensing services; public relations services; market investigation, research, and consultation services; short to medium term marketing plan-making services; compliance consultation services; marketing events and membership related activities planning and organizing services; intellectual property permits; equipment and rental services; and business-related management consulting services. Pursuant to the Consulting Service Agreement, the service fee is the remaining amount after Liaoning Kangbaier's profit before tax in the corresponding year deducts Liaoning Kangbaier's losses, if any, in the previous year, the necessary costs, expenses, taxes, and fees incurred in the corresponding year, and the withdraws of the statutory provident fund. Liaoning Kangbaier agreed not to transfer its rights and obligations under the Consulting Service Agreement to any third party without prior written consent from Baijiakang Consulting. In addition, Baijiakang Consulting may transfer its rights and obligations under the Consulting Service Agreement to Baijiakang Consulting's affiliates without Liaoning Kangbaier's consent, but Baijiakang Consulting shall notify Liaoning Kangbaier of such transfer. This Agreement is valid for a term of 10 years subject to any extension requested by Baijiakang Consulting unless terminated by Baijiakang Consulting unilaterally prior to the expiration.

The foregoing summary of the Consulting Service Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Consulting Service Agreement, which is filed as Exhibit 10.2 to this Form 8-K.

<u>Business Operation Agreement</u>

Pursuant to the terms of the Business Operation Agreement dated November 27, 2022, among Baijiakang Consulting, Liaoning Kangbaier and the shareholders of Liaoning Kangbaier (the "Business Operation Agreement"), Liaoning Kangbaier has agreed to subject the operations and management of its business to the control of Baijiakang Consulting. According to the Business Operation Agreement, Liaoning Kangbaier is not allowed to conduct any transactions that has substantial impact upon its operations, assets, rights, obligations, and personnel without the Baijiakang Consulting's written approval. The shareholders of Liaoning Kangbaier and Liaoning Kangbaier will take Baijiakang Consulting's advice on appointment or dismissal of directors, employment of Liaoning Kangbaier's employees, regular operation, and financial management of Liaoning Kangbaier. The shareholders of Liaoning Kangbaier have agreed to transfer any dividends, distributions, or any other profits that they receive as the shareholders of Liaoning Kangbaier to Baijiakang Consulting without consideration. The Business Operation Agreement is valid for a term of 10 years or longer upon the request of Baijiakang Consulting prior to the expiration thereof. The Business Operation Agreement might be terminated earlier by Baijiakang Consulting with a 30-day written notice.

The foregoing summary of the Business Operation Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Business Operation Agreement, which is filed as Exhibit 10.3 to this Form 8-K.

<u>Proxy Agreement</u>

Pursuant to the terms of the Proxy Agreements dated November 27, 2022, among Baijiakang Consulting, and the shareholders of Liaoning Kangbaier (each, the "Proxy Agreement", collectively, the "Proxy Agreements"), each shareholder of Liaoning Kangbaier has irrevocably entrusted his/her shareholder rights as Liaoning Kangbaier's shareholder to Baijiakang Consulting , including but not limited to, proposing the shareholder meeting, accepting any notices with regard to the convening of shareholder meeting and any other procedures, conducting voting rights, and selling or transferring the shares held by such shareholder, for 10 years or earlier if the Business Operation Agreement was terminated for any reasons.

The foregoing summary of the Proxy Agreements does not purport to be complete and is subject to, and qualified in its entirety by, the Proxy Agreements, which are filed as Exhibit 10.4 to this Form 8-K.

<u>Equity Disposal Agreement</u>

Pursuant to the terms of the Equity Disposal Agreement dated November 27, 2022, among Baijiakang Consulting, Liaoning Kangbaier , and the shareholders of Liaoning Kangbaier (the "Equity Disposal Agreement"), the shareholders of Liaoning Kangbaier granted Baijiakang Consulting or its designees an irrevocable and exclusive purchase option (the "Option**"**) to purchase Liaoning Kangbaier's all or partial equity interests and/or assets at the lowest purchase price permitted by PRC laws and regulations. The option is exercisable at any time at Baijiakang Consulting's discretion in full or in part, to the extent permitted by PRC law. The shareholders of Liaoning Kangbaier agreed to give Liaoning Kangbaier the total amount of the exercise price as a gift, or in other methods upon Baijiakang Consulting's written consent to transfer the exercise price to Liaoning Kangbaier. The Equity Disposal Agreement is valid for a term of 10 years or longer upon the request of Baijiakang Consulting.

The foregoing summary of the Equity Disposal Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Equity Disposal Agreement, which is filed as Exhibit 10.5 to this Form 8-K.

<u>Equity Pledge Agreement</u>

Pursuant to the terms of the Equity Pledge Agreement dated November 27, 2022, among Baijiakang Consulting and the shareholders of Liaoning Kangbaier (the "Pledge Agreement"), the shareholders of Liaoning Kangbaier pledged all of their equity interests in Liaoning Kangbaier to Baijiakang Consulting, including the proceeds thereof, to guarantee Liaoning Kangbaier's performance of its obligations under the Business Operation Agreement, the Consulting Service Agreement and the Equity Disposal Agreement (each, an "Agreement", collectively, the "Agreements"). If Liaoning Kangbaier or its shareholders breach its respective contractual obligations under any Agreements, or cause to occur one of the events regards as an event of default under any Agreements, Baijiakang Consulting, as pledgee, will be entitled to certain rights, including the right to dispose of the pledged equity interest in Liaoning Kangbaier. During the term of the Pledge Agreement, the pledged equity interests cannot be transferred without Baijiakang Consulting's prior written consent. The Pledge Agreement is valid until all the obligations due under the Agreements have been fulfilled.

The foregoing summary of the Equity Pledge Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Equity Pledge Agreement, which is filed as Exhibit 10.6 to this Form 8-K.

**BUSINESS**

**Overview**

We are a U.S. holding company incorporated in Nevada on June 6, 2016, which operates through its wholly owned subsidiary, Cambell International, a company incorporated in the British Virgin Islands on September 23, 2020. Cambell International, through a series of wholly owned subsidiaries incorporated in the British Virgin Islands, Hong Kong and the PRC, conducts our operations through our VIE established in the People's Republic of China. We do not have any equity ownership of our VIE; instead, we control and receive the economic benefits of our VIE's business operations through certain contractual arrangements, or "VIE Agreements", which are used to replicate foreign investment in China-based companies where Chinese law has certain restrictions on direct foreign investment in the Chinese operating companies.

Our China-based VIE, Liaoning Kangbaier Biotechnology Development Co., Ltd., ("Liaoning Kangbaier"), and its subsidiaries, are focused on the research and development of extraction processes of natural β -carotene, as well as the production, distribution marketing and sales of natural β -carotene health food products. Natural β -carotene is a safe source of vitamin A which is an essential nurturant important for vision, growth, cell division, reproduction and immunity as well as containing antioxidant properties which offer protection from diabetes, heart disease and cancer.

The Chinese government is committed to improving the health and life expectancy of its populous which has seen dramatic increases in the spread of diseases resulting in reduced life expectancy and premature mortality. These are the result of a number of factors including industrialization, urbanization, population aging, and the changes of ecological environment. To actively respond to these health issues the government has adopted and implemented a number of programs to promote health awareness and improve the medical and health system. These initiatives, together with the global outbreak of COVID-19, have increased the public's awareness and demand for health products and nutritious and healthy food.

To address this demand and market potential the Company has developed a line of natural β -carotene health products, including natural β -carrot juice, natural β -carrot powder, and natural β -carotene noodles. The Company is continuing to develop a variety of carotene products, such as carotene milk, carotene biscuits, carotene jelly, carotene enzyme, etc. These products are distributed, marketed and sold in China through sales companies, regional agents and franchised Baijiakang Healthy Lifestyle Supermarket.

To date, all of Liaoning Kangbaier's products are distributed through qualified dealers in the markets where it operates. Liaoning Kangbaier has a stable and well-established distribution network, which has helped it grow its sales and expand its markets. As of the date of this report, Liaoning Kangbaier has established relationships with over fifty distributors in China. Our management is constantly looking to add and build long term relationships with qualified and reputable distributors to our network.

**Our Strengths**

We believe that the following strengths enable us to capture business opportunities and differentiate us from our competitors:

*<u>Our Mission is in Harmony with Government Initiatives</u>*

Our mission to provide high quality nutritional health products under the "Kangbaier" brand is in harmony with recent government initiatives to improve the health conditions of its citizens.

The Healthy China Action (2019-2030) was formulated in 2019 to actively respond to the prominent health problems of Chinese people by implementing effective intervention measures to improve the quality of life by providing improved health at a lower cost, with emphasis on the elderly.

In 2019, the Law of the People's Republic of China on Basic Medical and Health Care and Health Promotion was adopted to promote health awareness and improve the medical and health system. This legislation emphasized prevention and promoted non-medical health nutrition as a method to significantly reduce the cost of health and treatment.

To help promote healthy lifestyles and physical strength, the Chinese government has produced a new revised version of the Dietary Guidelines for Chinese Residents (2022) as guidance for dietary intake among its population concluding that a high quality diet is believed to play a functional role in promoting the healthy growth of mankind and preventing many kinds of chronic degenerative diseases, including cancer, cardiovascular disease, diabetes, and obesity.

The Company's natural β -carotene health products address our customers' requirements for nutritional products that can improve one's health.

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*<u>Well Established Distribution Network</u>*

We have a stable and well-established distribution network, which has helped us grow our sales and expand our market share. Our distribution network consists of sales companies, regional agents and Baijiakang Healthy Lifestyle Supermarkets which are being developed on a franchise model. These markets provide a comprehensive platform for one-stop shopping, physiotherapy, and health services for the middle-aged and elderly. We are constantly looking to add qualified and reputable distributors to our network and have built long-term relationships with a number of them.

*<u>Strong Focus on Research and Development</u>*

Our research and development ("R&D") capability has always been a cornerstone of our success. Our R&D department has pioneered natural β -carotene extraction technology that increases the extraction rate from raw materials from 25% to 65%-70% with an absorption rate as high as 92%. To meet customers' needs, our R&D department is continuously developing additional natural β -carotene health products.

*<u>Vertically Integrated Production</u>*

Liaoning Kangbaier is mainly engaged in the research, development, and sale of nutritional products. The relevant nutritional products are manufactured under contract with an independent company, entrusted by Liaoning Kangbaier, which holds a Food Production License. We benefit by controlling the quality of production, while ensuring timely delivery of products.

**Our Strategies**

We plan to pursue the following strategies to further grow our business:

*<u>Focus On Our Health-Themed Physical Life Service Supermarkets</u>*

 

Create community one-stop health value added service portals based on the Baijiakang Healthy Lifestyle Supermarket concept which promotes our natural β -carotene series products and integrates health evaluation and consultation, health therapy, health classroom, daily necessities to offer comprehensive health services to our customers.

*<u>Expand Product Offering by Adding New Products</u>*

We believe there are opportunities for us to expand our sales by adding additional natural β -carotene products to our product offerings.

*<u>Enhance Our Distribution Network</u>*

As of the date of this Report, our products have been sold to [5] provinces and cities nationwide. We plan to cooperate with more institutions and well-known enterprises as well as to add more local agents to further strengthen and expand our distribution network and supermarket chains and expand our market to other parts of China.

*<u>Improve Brand Awareness</u>*

We intend to develop brand awareness by promoting our products and expanding our marketing by offering our β -carotene product as a health product or nutritional supplement ("Little Blue Cap") and selling our products to more chain stores and agents in China.

*<u>Selectively seek out strategic acquisitions</u>*

As the market competition intensifies, those small and medium-sized producers with weak research and development capabilities are under great pressure. We are a biotechnology company focusing on natural vitamin extraction technology, and our technology can be applied to the extraction of nutrients in many categories of products. In the future, we may integrate and acquire small and medium-sized manufacturers that meet our quality standards to improve our competitiveness.

**Our Products and Markets**

We, through our China-based VIE, Liaoning Kangbaier and its subsidiaries, produce, market, and sell Natural β -carotene based health products. Natural β -carotene is a safe source of vitamin A and has high nutritional and medicinal value. A substantial number of scientific research data, care and clinical trials at home and abroad have verified that Natural β -carotene plays a significant role in supplementing vitamin A, acts as antioxidant, maintains cell vitality, anti-cancer, vision protection, blood glucose regulation, body immunity improvement, intestinal microecological protection, cardiovascular and cerebrovascular disease prevention, delay of aging and other aspects.

Natural β -Carotene is widely used in the health food, health products, dietary supplements, cosmetics and feed industries, and the global market application scale is steadily growing. According to Technavio data, the global β -carotene market size reached $370 million in 2015 and reached $460 million in 2020, with a compound annual growth rate of 4.5%. The market size is expected to reach us $650 million by 2026.

At present, we mainly develop natural β -carotene series of health products, including natural β -carrot juice, natural β -carrot powder, natural β -carotene noodles. In the future, we will continue to develop a variety of forms of carotene series of products, such as carotene milk, carotene biscuits, carotene jelly, carotene enzyme, etc., so that the carotene series of products on the public table has become the norm.

**Our Production Process**

The following figure explains our process from raw material procurement to production and processing:

![](image_002.jpg)

Our contract production provider currently has 4 production lines consisting of four stages, with an annual production capacity of 2,600 tons of β carrot powder.

**Processing, and Quality Control**

Our goal is to provide high-quality products to our consumers. We strive to achieve this goal by establishing a quality control system and recruiting research and development personnel. In addition, our carrot raw material source is reliable, the quality is guaranteed, the whole manufacturing process is strictly in accordance with the internal quality control supervision standards.

Following the acceptance, selection and procurement of raw materials, carrots, first undergo two cleanings, and then are, peeled, cooked, pulped, and homogenization into carrot juice. Using the nonenzymatic method to fully destroy the interstitium and using the physical method to separate the cell space and eventually completely break down the cell wall, the carotene nucleic acid material separation process takes the β -carotene extraction rate from 25% of the traditional process to 65% -70%. In the filling process, a three-in-one cold and hot filling system is adopted. The filling operation is smooth and fast. During the filling process, the inspection related personnel will monitor each link in time and use aseptic high-temperature filling. After the filling, the sterilization can effectively avoid the secondary contamination of the bottle mouth. The whole process is highly automated, with only a small part adjustment to achieve the conversion of parallel.

In China, every food manufacturer is required to comply with the applicable quality control and safety requirements. Our products are produced under contract with a company that has obtained the food production license from the State Food and Drug Administration, which meets the safety requirements stipulated in the Food Safety Law of the People's Republic of China. Currently, we have 3 professionals performing technology-related functions, including product development and quality control.

By November 30, 2022, we have owned 25,000 mu of carrot planting base, with an annual output of 125,000 tons of carrots. For the year ended June 30, 2022 and 2021, our revenue is $829,371 and $771,755, respectively, whereas the revenue for the three months ended September 30, 2022 was $68,035. The market repeat purchase rate is 80%. According to the consumer satisfaction survey in recent years, the satisfaction index of carotene series products is relatively high. According to consumer feedback, the product is excellent in improving vision, intestines, immunity and reducing the pain of chemoradiotherapy. Our products are mainly sold in the form of solid and liquid drinks.

**Our β -Carotene Products**

The following are detailed description of some of the Company's products:

![](image_003.jpg)

Our main products are β-carotene series products. In order to introduce our products to the public table quickly and widely, we have developed and designed various forms of products, such as liquid, powder, pasta and so on, taking into account the convenience of product transportation, appearance and portability, and catering to the different preferences of consumers. The amount of carotene in these different forms of products is slightly different. Our Natural Beta carotene drink contains 4mg of beta carotene per 100ml; the powdered beta-carotene content was ≥24.5mg per 100g.

While we strictly control the quality of our products, we will also continue to enrich the product categories. We will target the mass consumer market, covering different groups such as infants, young and middle-aged, and the elderly. In the next step, through the establishment of cooperation with China Polypeptide Industry Group, based on the cooperation of clear protein polypeptide powder, it is committed to the development of peptide products and other new products with carrot based as raw materials. In the future, through international product certification, it will enter the global market, face global consumers, meet more people who need to improve their physical condition, provide people with healthy and nutritional products, and at the same time, enhance their life vitality and shape a healthy life.

**Research and Development**

We believe our research and development capabilities are essential to ensure the success and competitiveness of our business.

At present, the international carrot fresh juice extraction process follows the fruit juice extraction process and equipment. This juice extraction process equipment is only suitable for fruit pulp of parenchyma cells and concentrated juice products aiming to extract water-soluble ingredients, while carrot is a root vegetable with developed intercellular cell and solid cell wall. Carotene is a fat-soluble component rather than a water-soluble component, so the carrot is processed by fruit processing technology and equipment.

Our natural β -carotene extraction technology using non-enzymatic method to destroy the interstitium, using physical method to separate the cell space and eventually completely break the cell wall, the cell wall and carotene nucleic acid sufficient separation process, takes the β -carotene extraction rate from 25% to 65% -70%, with an absorption rate as high as 92%. This production process, without adding any harmful ingredients, such as spices, pigment, or preservatives, increases the shelf life to more than 12 months.

Our natural β -carotene drinks contain a β -carotene content of 4mg per 100ml; the powder β -carotene content is per 100g≥24.5mg.

**Quality Certifications and Accreditations** 

In a continuous effort to meet various international production and quality manufacturing standards, Liaoning Kangbaier has obtained ISO and JIS certificate certifications: (1) to show evidence of high quality manufacturing standards applied to the production and management processes; and (2) to access domestic and foreign markets. The management believes that maintaining objectively verifiable quality standards fosters consumer confidence and loyalty and maximizes customer satisfaction and recognition.

**Raw Materials and Suppliers**

All of our raw materials (carrots) are either grown on our own property or sourced through cooperative arrangements with local farmers. Farmers with whom we cooperate are selected based on several criteria including but not limited to quality, farm location, delivery cycle, and price. As we have a variety of options for suppliers, we do not anticipate difficulties in obtaining suppliers to produce our products. The prices for these raw materials are subject to market forces largely beyond our control, including weather and growing cycles, market demand, economy trend, and freight costs. The prices for raw materials have fluctuated in the past and may fluctuate significantly in the future.

Our quality control system starts from procurement. Before entering our production flow, we inspect the farms to confirm that no harmful insecticides and chemical fertilizers are used, and the raw materials must be certified for quality. We also perform quality reexaminations and unannounced inspections on raw materials in the production process. We review the performance of our suppliers based on the defective percentage of their supplies and adjust the amount of procurement from them accordingly. Our supplier agreements usually contain a quality control clause, under which we may seek remedies against our suppliers, such as damages and rectification, in the event the supplies fall below por quality standard or exceed minimum defective percentage.

**Production Facilities**

We exclusively entrust a third party contract manufacturer to process and produce our products, and we have established a long-term cooperative relationship. We provide standardized production process and technical support for contract manufacturer, and they produce in full accordance with our standards. This enterprise has the relevant production license qualification.

**Sales and Marketing**

The Ministry of Commerce and other 12 departments issued "opinions on promoting the construction of 15-minute urban convenient life circles" put forward, a quarter of an hour for the convenience of life circle in community residents as the service object, service radius for about 15 minutes' walk, in order to meet the residents' daily life basic consumption and quality consumption as the goal, with more forms agglomeration formation of community business circle.

The Ministry of Commerce and other 13 departments issued "guidance on promoting the brand chain convenience store to speed up the development" is put forward, to improve the urban public service infrastructure, weave dense for the convenience of consumption grid, optimize the convenience store business environment, promote convenience store brand, chain, intelligent development, better play to the convenience store service the important role of the people's livelihood and promote consumption.

The Company's product marketing and distribution strategy has been developed in accordance with the national policy guidance issued by the Ministry of Commerce which encouraged "the construction of an urban convenient life circle", by "promoting brand name convenience stores" so that all of a resident's basic daily needs can be satisfied within a fifteen walk from their home to centrally located convenience stores developed through comprehensive urban planning. Consistent with this guidance and to address market needs, the Company targets community residents and ensure sales growth expanding the scope of services provided.

The Company's distribution channels consist of sales companies, regional agents (provincial, urban and county) and the franchising of Baijiakang Healthy Lifestyle Supermarkets which are divided into flagship and community stores. Localized agents have the advantage of familiarity of local resources as well as the ability to identify a potential franchisee for the Baijiakang Healthy Lifestyle Supermarkets.

The Company collects agency fees from agents at all levels across the country, collects franchise fees from Baijiakang Healthy Lifestyle Supermarkets nationwide, to which it provides products nationwide.

As of November 30, 2022, we have more than 5 sales companies, 15 agents and 55 Baijiakang Healthy Lifestyle Supermarkets, including 13 BaiJiaKang flagship stores and 42 community stores. These are concentrated in Shenyang City, Fushun City, Panjin City, Fuxin City, Inner Mongolia Autonomous Region, Liaoyang City, Anshan City, Kaiyuan City, Yingkou City, Jilin City, as well as in Jilin, Hebei, Shandong, and Guangxi Provinces.

According to statistics, the average number of members of each flagship store is 500, the average number of members of each community store is 200, and the total number of members is about 15,000. Some of our agents and franchisees are also transformed from our members. After experiencing our products and services, the members have improved their physical health. They are willing to establish a deeper partnership with us, which also enhances the stickiness between us and our members and strengthens the close relationship between us and our agents and Baijiakang Healthy Lifestyle Supermarkets.

We provide marketing plans, sales support, and personnel training for all Baijiakang Healthy Lifestyle Supermarkets using our extensive sales network which has effectively promoted our sales and enhanced our brand image.

According to the civil affairs statistics of the third quarter of 2022 released by the official data of the Ministry of Civil Affairs of the NPC, PRC, there are 38,586 townships, towns, and streets, and 531,541 community service centers and service stations nationwide. According to the calculation of one community store serving 10 communities, we plan to expand the scale of Baijiakang Healthy Lifestyle Supermarket to more than 10,000 in five years. With the gradual improvement of the service system, the service project escalating, each store membership will have a lot of growth space, is expected to keep [70%] growth rate every year, build conform to the trend of healthy life multiple formats integration development of community business circle, reach the last kilometer connectivity, finally establish people and community ecological civilization health circle, for the people's healthy life to create sustainable circulation of ecological community alliance.

<u>The Baijiakang Healthy Lifestyle Supermarket Concept</u>

The Baijiakang Healthy Lifestyle Supermarket, offered as a franchise, is intended to serve the middle-aged and elderly residents in the community by providing a comprehensive platform for one-stop shopping, physiotherapy, integrated health evaluation and consultation, health therapy, health classroom and related health services. The goal is to meet the basic needs of the residents for a healthy life based upon natural β -carotene series products. Each store is equipped with professional health testing instruments, so that customers can participate in health evaluations and consultations. A personal profile is created for each member, recording their personal health data in detail, which, together with an analysis of the results of health testing instruments, can provide health-related disease prevention recommendations and health-related products.

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| ![](image_004.jpg) | ![](image_005.jpg) | ![](image_006.jpg) |

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BaiJiaKang APP (www.baijiakang.wx.chinakbegf.com), provides technical support for offline stores, enabling stores, where customers can register free as "members" through the mobile link, purchase goods and enjoy other benefits. The mobile link also connects supply chains, distributors, franchisees, allied merchants, users, with sales volume, customers, distributors, revenue, channels, and valuable customers, Win&win, community alliance and inter-connected ecosystem.

We will provide pre-sales and after-sales tracking, maintenance, feedback, and emergency response services for store members. A consumer satisfaction evaluation system is employed to continuously improve our customer's shopping experience, strengthen customer stickiness and their repurchase rate

**Competition**

At present, the well-known brands familiar to consumers, such as Huiyuan, Weiquan, and Meiyuan, occupy most of the market share in the field of fruit juice drinks. Most of their products are made up of concentrated fruit juice and pure inlet water and mixed together. The fruit juice content is about 10%, and the main element that is helpful to the human body is VC. Our ultra-thick carrot juice, fruit juice content is as high as 85%, rich in VC, and every 100ml of ultra-thick carrot juice contains 4mg of β carotene, β -carotene can be converted in the human body into VA, VA has a good effect on the human eyes, skin, immunity, anti-aging and other aspects. So, most of their products contain food additives, and in terms of nutrients, these brands are not absolutely focused on health nutrition.

As a biotech company, we have been focusing on extracting natural β -carotene from carrots. The continuous r & d investment and continuous technological innovation have increased our extraction cost, which has also led to the higher price of our products than the chemically synthesized carotene products on the market. But the nutritional health value of our natural β -carotene series is much higher than similar products in other markets.

With the continuous growth of the market demand for carrot deep processing products and the further development of the development industry, the domestic and foreign market competition has accelerated. Quality, technology, and cost form a huge network of relationships between enterprises and customers. We believe that the company's products should focus on customers more accurately, quickly gain a foothold in the market and occupy a certain share, and then continue to develop and grow, otherwise we will face the double pressure from the international and domestic markets. If the company has the following situations, such as the decision-making mistakes, poor market expansion, unable to maintain the advanced technology and production level, or the market supply and demand situation has undergone significant adverse changes, we will face an adverse market competition situation.

We believe that our ability to compete depends on many factors within and outside our control, including:

● promote agriculture by applying scientific and technological advances

● Large-scale planting base

● Continuous R & D investment and continuous technological innovation

● Stable R & D team

● Excellent professional management team

● Continuous marketing and promotion

● Market-oriented adjustment of the product structure

● Consumer trust and loyalty to the products

● Our brand advantage over our competitors in the market

We also work with regional and globally renowned health product business partners and health organizations:

● Cooperated with Hong Xinghua, a researcher from Shijiazhuang Institute of Agricultural Modernization, Chinese Academy of Sciences, to create a production project with high carotene content.

● Establish cooperation with China Polypeptide Industry Group and devote ourselves to the development of carrot-based peptide products based on the cooperation of clear protein polypeptide powder.

● China Polypeptide Industry Group is the first polypeptide research base in China, the forward-looking leader in China's polypeptide industry, and the most professional polypeptide application commercial organization in Asia. At present, it has established a government-funded professional peptide application research institute (Development and Application Research Center) and the only albumin polypeptide raw material production base in China, which is the polypeptide research base of Chinese Society of Health Science and Technology (national). Participated in the formulation of national industry standards for albumin polypeptide and soybean polypeptide.

● Cooperate with Professor Zhu Beiwei of Dalian University of Technology to develop fruit and vegetable deep processing products.

**Intellectual Property**

Protection of our intellectual property is a strategic priority for our business. We rely on a combination of patent, trademark, and trade secret laws, as well as confidentiality agreements, to establish and protect our proprietary rights. We do not rely on third-party licenses of intellectual property for use in our business.

In order to protect our intellectual property rights, we have filed trademark registration applications in China, including but not limited to the following:

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| | | | |
|:---|:---|:---|:---|
| **Brand Name** | **Figure** | **Trademark No** | **Trademark category** |
| Kangbaier | ![](image_008.jpg) | 1666988 <br>30505039 | 32 <br>30 |
| Ao Wei Jian AWAYK | Text without graphics | 10502470 | 30 |
| AWAYK; Ovian Health | Text without graphics | 4614729 | 30 |
| Eagle bright god jiongjiong | Text without graphics | 41401770 | 5 |
| BaiJia kang garden | Text without graphics | 67601794 | 44 |
| BaiJia kang garden | Text without graphics | 67621263 | 35 |
| Bai Jia Kang |  | 58482246 | 44 |

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Pending patent filings:

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|:---|:---|:---|:---|:---|
| **Country** | **Patent Number** | **Patent Name** | **Document<br> Serial Number** | **Proposer** |
| China | 202223232350.X | A beverage-processing device | 2022120400695070 | Liaoning Kangbaier Biotechnology Development Co., Ltd. |
| China | 202223225332.9 | A beverage processing and blending device | 2022120300320500 | Liaoning Kangbaier Biotechnology Development Co., Ltd. |
| China | 202223238634.X | A residue filter device for beverage processing | 2022120500916620 | Liaoning Kangbaier Biotechnology Development Co., Ltd. |
| China | 202223232363.7 | An integrated beverage capping system for processing | 2022120400700010 | Liaoning Kangbaier Biotechnology Development Co., Ltd. |
| China | 202223231375.8 | A beverage processing and storage dustproof device | 2022120400296310 | Liaoning Kangbaier Biotechnology Development Co., Ltd. |
| China | 202223231536.3 | A carrot juice beverage processing with raw material mixing equipment | 2022120400367610 | Liaoning Kangbaier Biotechnology Development Co., Ltd. |
| China | 202223238640.5 | A water treatment device used for beverage processing | 2022120500915880 | Liaoning Kangbaier Biotechnology Development Co., Ltd. |
| China | 202223215658.3 | A filter device for processing fruit and vegetable drinks | 2022120200953210 | Liaoning Kangbaier Biotechnology Development Co., Ltd. |

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While we highly value our intellectual properties and related assets, we do not believe that our market position and competitiveness are heavily dependent on them, or that our operations are dependent upon any single patent or group of related patents to manufacture our products. We nevertheless face intellectual property-related risks.

**Seasonality**

We have not experienced, and do not expect to experience, any seasonal fluctuations in our results of operations for either our wheelchair business or living aids products business.

**Insurance**

Liaoning Kangbaier and its subsidiaries maintain certain insurance policies to safeguard against risks and unexpected events. For example, Liaoning Kangbaier and its subsidiaries provide social security insurance including pension insurance, unemployment insurance, work-related injury insurance and medical insurance for employees. Liaoning Kangbaier and its subsidiaries also maintain property insurance for fixed assets and inventories. Liaoning Kangbaier and its subsidiaries are not required to maintain business interruption insurance or product liability insurance in China under PRC laws and do not maintain key man insurance, insurance policies covering damages to network infrastructures or information technology systems nor any insurance policies for properties. During the fiscal years 2021 and 2021, Liaoning Kangbaier and its subsidiaries did not file any material insurance claims in relation to their businesses**.**

**Regulations**

Because all of our operating entities are located in the PRC, we are regulated by the national and local laws of the PRC. This section summarizes the major PRC regulations relating to our business.

***PRC Laws and Regulations Relating to Food Industry.***

The food manufacturing industry in China is highly regulated. The primary regulatory authority is the State Administration for Market Regulation (SAMR), including its provincial and local branches. As a manufacturer of food, we are subject to regulation and oversight by the SAMR and its provincial and local branches. The Food Safety Law of the People's Republic of China (2021 Amendment, Food Safety Law) provides the basic legal framework for the administration of the production and sales of food in China and covers the processing, sales, trading, storage, transport, safety management and other supervisory regulations on food. These regulations set forth detailed rules with respect to the administration of food safety in China. We are also subject to other PRC laws and regulations that are applicable to business operators, distributors in general.

***PRC Licenses for Food Manufacturers and Operators.***

Pursuant to the Food Safety Law, China implements a licensing system for the food production and operation. A person or a legal person who engages in food production, food selling, or catering services shall obtain the Food Production License and/or Food Operation License from the food safety administrations of local people's governments at the county level or above in accordance with the law. Our Food Production License was issued on July 6, 2018 by the former authority named Food and Drug Administration of Liu An City and will be valid until July 5, 2023. Our Food Operation License was issued by the Food and Drug Administration of Shu Cheng County on September 5, 2016 and will be expired after September 4, 2021.

***PRC Laws and Regulations Regarding Foreign Investment***

Investment activities in the PRC by foreign investors were principally governed by the Catalogue for the Guidance of Foreign Investment Industries, or the Catalogue, which was promulgated and is amended from time to time by the Ministry of Commerce (the "MOFCOM") and the NDRC. Industries listed in the Catalogue were divided into three categories: encouraged, restricted, and prohibited. Industries not listed in the Catalogue were generally deemed as constituting a fourth "permitted" category. The Catalog was replaced by the Special Administrative Measures for Access of Foreign Investment (Negative List) and the Catalogue of Industries for Encouraging Foreign Investment in 2018 and 2019, respectively. On December 27, 2021, the NDRC and MOFCOM issued the latest Special Administrative Measures for Access of Foreign Investment (Negative List) (2021 Edition) (the "Negative List 2021"), which came into effect on January 1, 2022. The Negative List 2021 sets out the areas where foreign investment is prohibited and the areas where foreign investment is allowed only on certain conditions. Foreign investment in areas not listed in the Negative List 2021 is treated equally with domestic investment and the relevant provisions of the Negative List for Market Access shall apply to domestic and foreign investors on a unified basis. Moreover, according to Negative List 2021, PRC entities which engage in any field forbidden by the Negative List 2021 for access of foreign investment shall be approved by competent PRC authorities when they seek listing offshore, and foreign investors shall not participate in operation and management and their shareholding ration shall be in compliance with PRC laws. As of the date of this report Liaoning Kangbaier's online sales services fall into the value-added telecommunications services which is considered restricted. To comply with PRC laws and regulations, we conduct our online sales services in China through Liaoning Kangbaier, based on the VIE structure and a series of VIE Agreements by and among WFOE, Liaoning Kangbaier and the Registered Shareholders.

On March 15, 2019, the National People's Congress approved the Foreign Investment Law of the PRC, or the Foreign Investment Law, which came into effect on January 1, 2020, repealing simultaneously the Law of the PRC on Sino-foreign Equity Joint Ventures, the Law of the PRC on Wholly Foreign-owned Enterprises, and the Law of the PRC on Sino-foreign Cooperative Joint Ventures. The Foreign Investment Law adopts the management system of pre-establishment national treatment and negative list for foreign investment. Policies in support of enterprises shall apply equally to foreign-funded enterprises according to laws and regulations. Foreign investment enterprises shall be guaranteed that they could equally participate in the setting of standards, and the compulsory standards formulated by the State shall be equally applied. Fair competition for foreign investment enterprises to participate in government procurement activities shall be protected. The Foreign Investment Law also stipulates the protection on intellectual property rights and trade secrets. The State also establishes information reporting system and national security review system according to the Foreign Investment Law.

**PRC Laws and Regulations on Wholly Foreign-owned Enterprises**

The establishment, operation, and management of corporate entities in China are governed by the PRC Company Law, which was promulgated by the SCNPC on December 29, 1993, and became effective on July 1, 1994. It was last amended on October 26, 2018, and the amendments became effective on October 26, 2018. Under the PRC Company Law, companies are generally classified into two categories, namely, limited liability companies and joint stock limited companies. The PRC Company Law also applies to limited liability companies and joint stock limited companies with foreign investors. Where there are otherwise different provisions in any law on foreign investment, such provisions shall prevail.

The Foreign Investment Law of the PRC was promulgated on March 15, 2019 and became effective on January 1, 2020. Implementation Regulations for the Foreign Investment Law of the People's Republic of China were promulgated by the State Council on December 26, 2019 and became effective on January 1, 2020. Measures on Reporting of Foreign Investment Information were promulgated by MOFCOM on December 30, 2019 and became effective on January 1, 2020. The above-mentioned laws form the legal framework for the PRC Government to regulate WFOEs. These laws and regulations govern the establishment, modification, including changes to registered capital, shareholders, corporate form, merger and split, dissolution and termination of WFOEs.

According to the above regulations, a WFOE should submit an initial report through the Enterprise Registration System at the time of completion of establishment registration for the foreign investment enterprise. Baijiakang Consulting is a WFOE since established and has submit an initial report. Its establishment and operation are in compliance with the above-mentioned laws.

**PRC Laws and Regulations on Intellectual Property Rights**

*Regulations on Trademarks*

The Trademark Law of the PRC was adopted at the 24th meeting of the SCNPC on August 23, 1982. Four amendments were made on February 22, 1993, October 27, 2001, August 30, 2013 and April 23, 2019. The Regulations on the Implementation of the Trademark Law of the PRC were promulgated by the State Council of the People's Republic of China on August 3, 2002, which took effect on September 15, 2002. It was revised on April 29, 2014 and became effective as of May 1, 2014. According to the Trademark Law and the implementing regulations, a trademark which has been approved and registered by the trademark office is a registered trademark, including a trademark of goods, services, collective trademark, and certification trademark. The trademark registrant shall enjoy the exclusive right to use the trademark and shall be protected by law. The trademark law also specifies the scope of registered trademarks, procedures for registration of trademarks and the rights and obligations of trademark owners. We are currently holding five registered trademarks in China and enjoy the corresponding rights.

*Regulations on Patents*

Pursuant to the Patent Law of the PRC, promulgated by the SCNPC on March 12, 1984, as latest amended on October 17, 2020, and became effective on June 1, 2021, and the Implementation Rules of the Patent Law of the PRC, promulgated by the State Council on June 15, 2001 and latest amended on January 9, 2010, there are three types of patent in the PRC: invention patent, utility model patent and design patent. The protection period is 20 years for invention patent and 10 years for utility model patent and design patent, commencing from their respective application dates. Any individual or entity that utilizes a patent or conducts any other activity in infringement of a patent without prior authorization of the patentee shall pay compensation to the patentee and is subject to a fine imposed by relevant administrative authorities and, if constituting a crime, shall be held criminally liable in accordance with the law. In the event that a patent is owned by two or more co-owners without an agreement regarding the distribution of revenue generated from the exploitation of any co-owner of the patent, such revenue shall be distributed among all the co-owners. As of the date of this report, we have filed 8 patent applications with the Patent Administration Department of the PRC. To our knowledge, we do not violate the existing patent rights of any third party.

*Regulations on Domain Names*

The Ministry of Industry and Information Technology of the PRC, or the MIIT, promulgated the Measures on Administration of Internet Domain Names, or the Domain Name Measures, on August 24, 2017, which took effect on November 1, 2017, and replaced the Administrative Measures on China Internet Domain Name promulgated by the MIIT on November 5, 2004. According to the Domain Name Measures, the MIIT is in charge of the administration of PRC internet domain names. The domain name registration follows a first-to-file principle. Applicants for registration of domain names shall provide true, accurate and complete information of their identities to domain name registration service institutions. The applicant will become the holder of such domain names upon completion of the registration procedure. As of the date of this report, we have completed registration for our domain name of www.chinakbegf.com.

***PRC Laws and Regulations Regarding Foreign Exchange***

*General Administration of Foreign Exchange*

The principal regulation governing foreign currency exchange in the PRC is the Administrative Regulations of the PRC on Foreign Exchange (the "Foreign Exchange Regulations"), which were promulgated on January 29, 1996, became effective on April 1, 1996, and were last amended on August 5, 2008. Under these rules, Renminbi is generally freely convertible for payments of current account items, such as trade- and service-related foreign exchange transactions and dividend payments, but not freely convertible for capital account items, such as capital transfer, direct investment, investment in securities, derivative products, or loans unless prior approval by competent authorities for the administration of foreign exchange is obtained. Under the Foreign Exchange Regulations, foreign-invested enterprises in the PRC may purchase foreign exchange without the approval of SAFE to pay dividends by providing certain evidentiary documents, including board resolutions, tax certificates, or for trade- and services-related foreign exchange transactions, by providing commercial documents evidencing such transactions.

*Circular No. 37 and Circular No. 13*

Circular 37 was released by SAFE on July 4, 2014, and abolished Circular 75 which had been in effect since November 1, 2005. Pursuant to Circular 37, a PRC resident should apply to SAFE for foreign exchange registration of overseas investments before it makes any capital contribution to a special purpose vehicle, or SPV, using his or her legitimate domestic or offshore assets or interests. SPVs are offshore enterprises directly established or indirectly controlled by domestic residents for the purpose of investment and financing by utilizing domestic or offshore assets or interests they legally hold. Following any significant change in a registered offshore SPV, such as capital increase, reduction, equity transfer or swap, consolidation or division involving domestic resident individuals, the domestic individuals shall amend the registration with SAFE. Where an SPV intends to repatriate funds raised after completion of offshore financing to the PRC, it shall comply with relevant PRC regulations on foreign investment and foreign debt management. A foreign-invested enterprise established through return investment shall complete relevant foreign exchange registration formalities in accordance with the prevailing foreign exchange administration regulations on foreign direct investment and truthfully disclose information on the actual controller of its shareholders.

If any shareholder who is a PRC resident (as determined by the Circular No. 37) holds any interest in an offshore SPV and fails to fulfil the required foreign exchange registration with the local SAFE branches, the PRC subsidiaries of that offshore SPV may be prohibited from distributing their profits and dividends to their offshore parent company or from carrying out other subsequent cross-border foreign exchange activities. The offshore SPV may also be restricted in its ability to contribute additional capital to its PRC subsidiaries. Where a domestic resident fails to complete relevant foreign exchange registration as required, fails to truthfully disclose information on the actual controller of the enterprise involved in the return investment or otherwise makes false statements, the foreign exchange control authority may order them to take remedial actions, issue a warning, and impose a fine of less than RMB 300,000 on an institution or less than RMB 50,000 on an individual.

Circular 13 was issued by SAFE on February 13, 2015 and became effective on June 1, 2015. Pursuant to Circular 13, a domestic resident who makes a capital contribution to an SPV using his or her legitimate domestic or offshore assets or interests is no longer required to apply to SAFE for foreign exchange registration of his or her overseas investments, instead, he or she shall register with a bank in the place where the assets or interests of the domestic enterprise in which he or she has interests are located if the domestic resident individually seeks to make a capital contribution to the SPV using his or her legitimate domestic assets or interests; or he or she shall register with a local bank at his or her permanent residence if the domestic resident individually seeks to make a capital contribution to the SPV using his or her legitimate offshore assets or interests.

*Circular 19 and Circular 16*

Circular 19 was promulgated by SAFE on March 30, 2015 and became effective on June 1, 2015. According to Circular 19, the foreign exchange capital in the capital account of foreign-invested enterprises, meaning the monetary contribution confirmed by the foreign exchange authorities or the monetary contribution registered for account entry through banks, shall be granted the benefits of Discretional Foreign Exchange Settlement ("Discretional Foreign Exchange Settlement"). With Discretional Foreign Exchange Settlement, foreign capital in the capital account of a foreign-invested enterprise for which the rights and interests of monetary contribution have been confirmed by the local foreign exchange bureau, or for which book-entry registration of monetary contribution has been completed by the bank, can be settled at the bank based on the actual operational needs of the foreign-invested enterprise. The allowed Discretional Foreign Exchange Settlement percentage of the foreign capital of a foreign-invested enterprise has been temporarily set to be 100%. The Renminbi converted from the foreign capital will be kept in a designated account and if a foreign-invested enterprise needs to make any further payment from such account, it will still need to provide supporting documents and to complete the review process with its bank.

Furthermore, Circular 19 stipulates that foreign-invested enterprises shall make bona fide use of their capital for their own needs within their business scopes. The capital of a foreign-invested enterprise and the Renminbi it obtained from foreign exchange settlement shall not be used for the following purposes:

● directly or indirectly used for expenses beyond its business scope or prohibited by relevant laws or regulations;

● directly or indirectly used for investment in securities unless otherwise provided by relevant laws or regulations;

● directly or indirectly used for entrusted loan in Renminbi (unless within its permitted scope of business), repayment of inter-company loans (including advances by a third party) or repayment of bank loans in Renminbi that have been sub-lent to a third party; or

● directly or indirectly used for expenses related to the purchase of real estate that is not for self-use (except for foreign-invested real estate enterprises).

Circular 16 was issued by SAFE on June 9, 2016. Pursuant to Circular 16, enterprises registered in the PRC may also convert their foreign debts from foreign currency to Renminbi on a self-discretionary basis. Circular 16 provides an integrated standard for conversion of foreign exchange capital items (including but not limited to foreign currency capital and foreign debts) on a self-discretionary basis applicable to all enterprises registered in the PRC. Circular 16 reiterates the principle that an enterprise's Renminbi capital converted from foreign currency-denominated capital may not be directly or indirectly used for purposes beyond its business scope or purposes prohibited by PRC laws or regulations, and such converted Renminbi capital shall not be provided as loans to non-affiliated entities.

**Taxation**

*PRC Enterprise Income Tax*

The Enterprise Income Tax Law of the People's Republic of China (the "EIT Law") was promulgated by the Standing Committee of the National People's Congress on March 16, 2007, and became effective on January 1, 2008, and was last amended on December 29, 2018. The Implementation Rules of the EIT Law (the "Implementation Rules") were promulgated by the State Council on December 6, 2007 and amended on April 23, 2019. According to the EIT Law and the Implementation Rules, enterprises are divided into resident enterprises and non-resident enterprises. Resident enterprises shall pay enterprise income tax on their incomes obtained in and outside the PRC at the rate of 25%. Non-resident enterprises setting up institutions in the PRC shall pay enterprise income tax on the incomes obtained by such institutions in and outside the PRC at the rate of 25%. Non-resident enterprises with no institutions in the PRC, and non-resident enterprises whose incomes having no substantial connection with their institutions in the PRC, shall pay enterprise income tax on their incomes obtained in the PRC at a reduced rate of 10%.

The Arrangement between the PRC and Hong Kong Special Administrative Region for the Avoidance of Double Taxation the Prevention of Fiscal Evasion with respect to Taxes on Income (the "Arrangement") was promulgated by the State Administration of Taxation ("SAT") on August 21, 2006 and came into effect on January 1, 2007. According to the Arrangement, a company incorporated in Hong Kong will be subject to withholding tax at the lower rate of 5% on dividends it receives from a company incorporated in the PRC if it holds a 25% interest or more in the PRC company. Announcement of the State Administration of Taxation on Issues Relating to "Beneficial Owner" in Tax Treaties (the "Notice") was promulgated by SAT on February 3, 2018 and became effective on April 1, 2018. According to the Notice, a beneficial ownership analysis will be used based on a substance-over-form principle to determine whether or not to grant tax treaty benefits.

*Value-added Tax*

Pursuant to the Provisional Regulations on Value-added Tax of the PRC, or the VAT Regulations, which were promulgated by the State Council on December 13, 1993, took effect on January 1, 1994, and were amended on November 10, 2008, February 6, 2016, and November 19, 2017, respectively, and the Rules for the Implementation of the Provisional Regulations on Value-added Tax of the PRC, which were promulgated by the MOF on December 25, 1993, and were amended on December 15, 2008, and October 28, 2011, respectively, entities and individuals that sell goods or labor services of processing, repair or replacement, sell services, intangible assets, or immovables, or import goods within the territory of the People's Republic of China are taxpayers of value-added tax. The VAT rate is 17% for taxpayers selling goods, labor services, or tangible movable property leasing services or importing goods, except otherwise specified; 11% for taxpayers selling services of transportation, postal, basic telecommunications, construction, and lease of immovable, selling immovable, transferring land use rights, selling and importing other specified goods including fertilizers; 6% for taxpayers selling services or intangible assets.

According to the Notice on the Adjustment to the Value-added Tax Rates issued by the SAT and the MOF on April 4, 2018, where taxpayers make VAT taxable sales or import goods, the applicable tax rates shall be adjusted from 17% to 16% and from 11% to 10%, respectively. Subsequently, the Notice on Policies for Deepening Reform of Value-added Tax was issued by the SAT, the MOF and the General Administration of Customs on March 20, 2019 and took effective on April 1, 2019, which further adjusted the applicable tax rate for taxpayers making VAT taxable sales or importing goods. The applicable tax rates shall be adjusted from 16% to 13% and from 10% to 9%, respectively.

***Business license***

Any company that conducts business in the PRC must have a business license that covers a particular type of work. Other than regular business licenses that we have already obtained, there is no special license or permit required for us to engage in the current businesses under PRC laws and regulations.

Any company that conducts business in the PRC must have a business license that covers the scope of the business in which such company is engaged. Following the Share Exchange, we conduct our business through our control of Liaoning Kangbaier. Each of Doron Kangbaier and Liaoning Health holds a business license that covers its present business.

The business license of Doron Kangbaier was issued on June 9, 2022. The scope of registered business of Doron Kangbaier includes agricultural technology development, research and manufacture and sale of carrot-related beverages, food products and plant extracts, food production technology development, consultation, transfer and promotion services; sale of edible agricultural products, acquisition, processing and sale of agricultural and sideline products.

The business license of Liaoning Health was issued on April 16, 2021. The scope of registered business of Liaoning Health includes research and manufacture and sale of carrot-related beverages.

***Dividend Distributions***

Under applicable PRC regulations, FIEs in China may pay dividends only out of their accumulated profits, if any, determined in accordance with PRC accounting standards and regulations. In addition, a FIE in China is required to set aside at least 10% of its after-tax profit based on PRC accounting standards each year to its general reserves until the accumulative amount of such reserves reach 50% of its registered capital. These reserves are not distributable as cash dividends. The board of directors of a FIE has the discretion to allocate a portion of its after-tax profits to staff welfare and bonus funds, which may not be distributed to equity owners except in the event of liquidation.

After-tax profits/losses with respect to the payment of dividends out of accumulated profits and the annual appropriation of after-tax profits as calculated pursuant to PRC accounting standards and regulations do not result in significant differences as compared to after-tax earnings as presented in our financial statements. However, there are certain differences between PRC accounting standards and regulations and U.S. generally accepted accounting principles, arising from different treatment of items such as amortization of intangible assets and change in fair value of contingent consideration rising from business combinations.

In addition, under the EIT Law, the Notice of the State Administration of Taxation on Negotiated Reduction of Dividends and Interest Rates, which was issued on January 29, 2008, the Arrangement between the PRC and the Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion, which became effective on December 8, 2006, and the Announcement of the State Administration of Taxation on Issues Relating to "Beneficial Owner" in Tax Treaties, which became effective on April 1, 2018, dividends from our PRC operating subsidiaries paid to us through our Hong Kong subsidiary may be subject to a withholding tax at a rate of 10%, or at a rate of 5% if our Hong Kong subsidiary is considered a "beneficial owner" that is generally engaged in substantial business activities and entitled to treaty benefits under the Arrangement between the PRC and the Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion

***PRC Laws and Regulations Related to Employment and Labor Protection***

On June 29, 2007, the National People's Congress promulgated the Employment Contract Law of PRC ("Employment Contract Law"), which became effective as of January 1, 2008 and amended on December 28, 2012. The Employment Contract Law requires employers to provide written contracts to their employees, restricts the use of temporary workers and aims to give employees long-term job security.

Pursuant to the Employment Contract Law, employment contracts lawfully concluded prior to the implementation of the Employment Contract Law and continuing as of the date of its implementation shall continue to be performed. Where an employment relationship was established prior to the implementation of the Employment Contract Law but no written employment contract was concluded, a contract must be concluded within one month after its implementation.

On September 18, 2008, the State Council promulgated the Implementing Regulations for the PRC Employment Contract Law which came into effect immediately. These regulations interpret and supplement the provisions of the Employment Contract Law.

Pursuant to the PRC Labor Law and the PRC Labor Contract Law, employers must execute written labor contracts with full-time employees. All employers must comply with local minimum wage standards. Violations of the PRC Labor Contract Law and the PRC Labor Law may result in the imposition of fines and other administrative and criminal liability in the case of serious violations.

Our standard employment contract complies with the requirements of the Employment Contract Law and its implementing regulations. We have entered into written employment contracts with all of our employees.

*Social Insurance and Housing Fund*

Pursuant to the Social Insurance Law of the PRC, which was promulgated by the Standing Committee of the NPC on October 28, 2010 and last amended on December 29, 2018, employers in the PRC shall provide their employees with welfare schemes covering basic pension insurance, basic medical insurance, unemployment insurance, maternity insurance, and occupational injury insurance. The employer shall apply to the local social insurance agency for social insurance registration within 30 days from the date of its formation. And it shall, within 30 days from the date of employment, apply to the social insurance agency for social insurance registration for the employee. Any employer who violates the regulations above shall be ordered to make correction within a prescribed time limit; if the employer fails to rectify within the time limit, the employer and its directly liable person will be fined.

In accordance with the Regulations on Management of Housing Provident Fund, which were promulgated by the State Council on April 3, 1999 and last amended on March 24, 2019, employers must register at the designated administrative centers and open bank accounts for depositing employees' housing funds. Employers and employees are also required to pay and deposit housing funds, with an amount no less than 5% of the monthly average salary of the employee in the preceding year in full and on time. Any entity that fails to make deposit registration of the housing accumulation fund or fails to open a housing accumulation fund account for its employees shall be ordered to complete the relevant procedures within a prescribed time limit. Any entity failing to complete the relevant procedure within the time limit will be fined RMB10,000 to RMB50,000. Any entity fails to make payment of housing provident fund within the time limit or has shortfall in payment of housing provident fund will be ordered to make the payment or make up the shortfall within the prescribed time limit, otherwise, the housing provident management center is entitled to apply for compulsory enforcement with the People's Court.

**Employees**

As of December 1, 2022, we had 11 employees. The following table sets forth the number of our employees by function as of December 1, 2022:

---

| | |
|:---|:---|
| **Department** | **Number of<br> Employees** |
| Department of Technology and Production | 3 |
| Market Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| Accounting Department | 2 |
| Planning Product Publicity | 1 |
| Administration | 2 |
| **Total** | 11 |

---

We have entered into employment contracts with our full-time employees.

As required by regulations in China, Liaoning Kangbaier and its subsidiaries participate in various employee social security plans that are organized by municipal and provincial governments for our PRC-based full-time employees, including pension, unemployment insurance, childbirth insurance, work-related injury insurance, medical insurance, and housing insurance. Liaoning Kangbaier and its subsidiaries are required under PRC law to make contributions from time to time to employee benefit plans for PRC-based full-time employees at specified percentages of the salaries, bonuses, and certain allowances of such employees, up to a maximum amount specified by the local governments in China. For more details, please see "*Regulations - PRC Laws and Regulations Related to Employment and Labor Protection"*

None of our employees belong to a union or are a party to any collective bargaining or similar agreement. We consider our relationships with our employees to be good.

**RISK FACTORS** 

*An investment in our common stock involves a high degree of risk. Before deciding whether to invest in our common stock, you should consider carefully the risks described below, together with all of the other information set forth in this report, including the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and related notes. If any of these risks actually occurs, our business, financial condition, results of operations or cash flow could be materially and adversely affected, which could cause the trading price of our common stock to decline, resulting in a loss of all or part of your investment. The risks described below and, in the sections, and documents referenced above are not the only ones that we face. Additional risks not presently known to us or that we currently deem immaterial may also affect our business. You should only consider investing in our common stock if you can bear the risk of loss of your entire investment.* 

**Risks Related to Our Business** 

***The ability of the Company to continue as a going concern is dependent upon the Company's ability to raise additional funds and implement its business plan.***

Our financial statements appearing at the end of this prospectus have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on, among other things, the Company's ability to operate profitably, to generate cash flows from operations, and to pursue financing arrangements to support its working capital requirements.

Our ability to continue as a going concern depends on our ability to raise additional financing. If we are unable to raise additional capital, we may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of our business plan, and reducing overhead expenses. We cannot provide any assurance that new financing will be available to us on commercially acceptable terms, if at all. if we cannot continue as a going concern the holders of our common stock and our shareholders could lose all or a part of their investment. In such situations, our business, prospects, financial condition and results of operations would be materially and adversely affected.

***We operate in highly competitive markets, and the scale and resources of some of our competitors may allow them to compete more effectively than we can, which could result in a loss of our market share and a decrease in our net revenues and profitability.***

The market for health products is highly competitive and we compete in various aspects, including brand recognition, value for money, user experience, breadth of product and service offerings, product quality, sales and distribution, supply chain management, customer loyalty, and talents, among others. Intensified competition may result in pricing pressures and reduced profitability and may impede our ability to achieve sustainable growth in our revenues or cause us to lose market share. Our competitors may also engage in aggressive and negative marketing or public relations strategies which may harm our reputation and increase our marketing expenses. Any of these results could substantially harm our results of operations.

Some of our existing and potential competitors enjoy substantial competitive advantages, including longer operating history, access to larger and broader user bases, greater brand recognition, greater financial, research and development, marketing, distribution, and other resources. We cannot assure you that we will compete with them successfully.

***A disruption, termination, or alteration of the supply of raw materials due to natural disasters, political and economic turmoil, and widespread disease or pandemics (such as the recent COVID-19 pandemic) could materially adversely affect the sales of our products.***

Our business depends on the supply of raw materials, and we are reliant on a consistent supply of raw materials and components in order to maintain our production capability. If our suppliers experience delays in delivering raw materials, , or if the quality does not meet our standards we could incur substantive costs or disruptions to our business, which could have a material adverse effect on our net sales, financial condition, profitability and cash flows.

Further, conditions such as public health crises could impair our ability to procure necessary materials. Such public health crises may also increase the cost of these materials. For example, an outbreak of a new strain of coronavirus in Wuhan, China ("COVID-19") has resulted in widespread quarantines and travel bans issued by the Chinese government for a certain period of time in 2020. Such quarantines and travel bans have had a substantial impact on our corporate operations in China and our operational results and our revenues in 2021 were materially and adversely impacted. There has been a resurgence of the COVID-19 pandemic in China since early 2022, which has caused disruptions in our operations and we expect that our financial results may be negatively impacted as a result,

***Increases in the price of raw materials or impact of currency value fluctuations could impact our ability to sustain and grow earnings.***

Our manufacturing processes consume substantive amounts of raw materials, the costs of which may be subject to supply and demand factors, as well as other factors beyond our control such as financial market trends. Raw material price fluctuations may adversely affect our results.

***Our business depends on the performance of sales companies, regional agents and our branded supermarkets and disruptions within our distribution network could have a negative effect on our business.***

We sell our products through a network of sales companies, regional agents and our branded supermarkets and our business is therefore affected by our ability to establish new relationships and maintain relationships with our existing distribution channels. We can provide no assurance that we will be able to maintain such goodwill with our sales companies and agents and renew our existing agreements on favorable terms, if at all.

***We have limited sources of working capital and will need substantial additional financing.***

The working capital required to implement our business strategy and R&D efforts will most likely be provided by funds obtained through offerings of our equity, debt, debt-linked securities, and/or equity-linked securities, and revenues generated by us. No assurance can be given that we will have revenues sufficient to sustain our operations or that we would be able to obtain equity/debt financing in the current economic environment. If we do not have sufficient working capital and are unable to generate sufficient revenues or raise additional funds, we may delay the completion of or significantly reduce the scope of our current business plan; delay some of our development and clinical or marketing efforts; postpone the hiring of new personnel; or, under certain dire financial circumstances, substantially curtail or cease our operations.

Our inability to obtain sufficient additional financing would have a material adverse effect on our ability to implement our business plan and, as a result, could require us to significantly curtail or potentially cease our operations. As of September 30, 2022, we had cash of $167,364, total current assets of $2,249,299 and total current liabilities of $5,018,577. We may need to engage in capital-raising transactions in the near future. Such financing transactions may well cause substantial dilution to our shareholders and could involve the issuance of securities with rights senior to the outstanding shares. Our ability to complete additional financings is dependent on, among other things, the state of the capital markets at the time of any proposed offering, market reception of the Company and the likelihood of the success of its business model and offering terms. There is no assurance that we will be able to obtain any such additional capital through asset sales, equity or debt financing, or any combination thereof, on satisfactory terms or at all. Additionally, no assurance can be given that any such financing, if obtained, will be adequate to meet our capital needs and to support our operations. If we do not obtain adequate capital on a timely basis and on satisfactory terms, our revenues and operations and the value of our common stock and Ordinary Share equivalents would be materially negatively impacted and we may cease our operations.

***We are dependent on certain key personnel and loss of these key personnel could have a material adverse effect on our business, financial condition, and results of operations.***

Our future business and results of operations depend in significant part upon the continued contributions of our management, marketing, and technical personnel. They also depend in significant part upon our ability to attract and retain additional qualified management, technical, marketing and sales and support personnel for our operations. As China is building its powerful technology industry and enhancing its market-oriented economic system, competition for talents becomes increasingly fierce. Many of our potential competitors have greater financial, personnel, technical, manufacturing, marketing, sales, and other resources than we do. If we lose a key employee or if a key employee fails to perform in his or her current position, or if we are not able to attract and retain skilled employees as needed, our business could suffer. We depend on the skills and abilities of these key employees in managing the technical, marketing and sales aspects of our business, any part of which could be harmed by further turnover.

***Our success depends on our ability to protect our intellectual property.***

We rely on or intend to rely on our trademarks, trade names and brand names to distinguish our products from the products of our competitors and have registered or will apply to register a number of these trademarks. However, third parties may oppose our trademark applications or otherwise challenge our use of the trademarks. In the event that our trademarks are successfully challenged, we could be forced to rebrand our products, which could result in loss of brand recognition and could require us to devote resources to advertising and marketing these new brands. Further, our competitors may infringe our trademarks, or we may not have adequate resources to enforce our trademarks.

***If we fail to maintain an effective quality control system, our business could be materially and adversely affected.***

We place great emphasis on product quality and adhere to stringent quality control measures and have obtained quality control certifications for our products. To meet our customers' requirements and expectations for the quality and safety of our products, we have adopted a stringent quality control system to ensure that every step of the production process is strictly monitored and managed. Failure to maintain an effective quality control system or to obtain or renew our quality standards certifications may result in a decrease in demand for our products or cancellation or loss of purchase orders from our customers. Moreover, our reputation could be impaired. As a result, our business and results of operations could be materially and adversely affected.

***We rely on third-party logistics service providers to deliver our products. Disruption in logistics may prevent us from meeting customer demand and our business, results of operations and financial condition may suffer as a result.***

We engage third-party logistics service providers to deliver our products from our warehouses to our distributors and retail outlets. Disputes with or termination of our contractual relationships with one or more of our logistics service providers could result in delayed delivery of products or increased costs. There can be no assurance that we can continue or extend relationships with our current logistics service providers on terms acceptable to us, or that we will be able to establish relationships with new logistics service providers to ensure accurate, timely and cost-efficient delivery services. If we are unable to maintain or develop good relationships with our preferred logistics service providers, it may inhibit our ability to offer products in sufficient quantities, on a timely basis, or at prices acceptable to our consumers. If there is any breakdown in our relationships with our preferred logistics service providers, we cannot assure you that no interruptions in our product delivery occur or that they would not materially and adversely affect our business, prospects, and results of operations.

As we do not have any direct control over these logistics service providers, we cannot guarantee their quality of service. In addition, services provided by these logistics service providers could be interrupted by unforeseen events beyond our control, such as poor handling provided by these logistics service providers, natural disasters, pandemics, adverse weather conditions, riots and labor strikes. If there is any delay in delivery, damage to products or any other issue, we may lose customers and sales and our brand image may be tarnished.

***Our production facilities may be unable to maintain efficiency, encounter problems in ramping up production or otherwise have difficulty meeting our production requirements.***

The relevant nutritional products are manufactured under contract with a company entrusted by Liaoning Kangbaier "which holds a Food Production License. Our future growth will depend upon our ability to maintain efficient operations at their existing production facilities and our ability to expand their production capacity as we require. The average utilization rate of our production lines was __ %, and __% for the fiscal years 2021 and 2020, respectively. The utilization rate of our production facilities depends primarily on the demand for our products and the availability and maintenance of our equipment but may also be affected by other factors, such as the availability of employees, seasonal factors and changes in environmental laws and regulations. In order to meet our customers' demands and advancements in technology, we maintain and upgrade our equipment periodically. If we are unable to maintain our production facilities' efficiency, we may be unable to fulfill our purchase orders in a timely manner, or at all. This would negatively impact our reputation, business, and results of operations.

***The global coronavirus COVID-19 pandemic has caused significant disruptions in our business, which may continue to materially and adversely affect our results of operations and financial condition.***

On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a global pandemic. Many businesses and social activities in China and other countries and regions were severely disrupted in 2020, including those of our suppliers, customers, and employees. This pandemic has also caused market panics, which materially and negatively affected the global financial markets, such as the plunge of global stocks on major stock exchanges in March 2020. Such disruption and slowdown of the world's economy in 2020 and beyond had, and may continue to have, a material adverse effect on our results of operations and financial condition. We and our customers experienced significant business disruptions and suspension of operations due to quarantine measures to contain the spread of the pandemic, which caused shortage in the supply of raw materials, reduced our production capacity, increased the likelihood of default from our customers and delayed our product delivery. All of these had resulted in a material adverse effect on our results of operations and financial condition in the fiscal year 2021. The extent to which the COVID-19 pandemic may impact our business, operations and financial results will depend on numerous evolving factors that the Company cannot accurately predict at this time, including the uncertainty on the potential resurgence of the COVID-19 cases in China, and the instability of local government policies and restrictions. We are closely monitoring the development of the COVID-19 pandemic and continuously evaluating any further potential impact on our business, results of operations and financial condition. If the pandemic persists or escalates, we may be subject to further negative impact on our business operations and financial condition.

**Risks Related to Our Corporate Structure** 

*We control and receive the economic benefits of the business operations of the VIE through the VIE Agreements among our WFOE, the VIE and the VIE's shareholders to operate our business solely because we met the conditions for consolidation of the VIE under U.S. GAAP for accounting purpose; however, the VIE Agreements have not been tested in a court of law and are subject to significant risks, as set forth in the following risk factors.* 

***If the PRC government finds that the agreements that establish the structure for operating our businesses in China do not comply with PRC regulations relating to the relevant industries, or if these regulations or the interpretation of existing regulations change in the future, we could be subject to severe penalties and our common stock may decline in value or become worthless if we are unable to assert our contractual control rights over the assets of our PRC operating entities that conduct all of our operations.***

We are a holding company incorporated in the British Virgin Islands and operate our business through Liaoning Kangbaier, a VIE entity, via a series of contractual arrangements, as a result of which, under United States generally accepted accounting principles, the assets and liabilities of Liaoning Kangbaier are treated as our assets and liabilities and the results of operations of Liaoning Kangbaier are treated in all aspects as if they were the results of our operations. For a description of these contractual arrangements, see "*Business— Contractual Arrangements among WFOE, Liaoning Kangbaier and Liaoning Kangbaier's Shareholders".* 

In the opinion of our PRC legal counsel, based on its understandings of the relevant PRC laws and regulations, (i) the ownership structures of Liaoning Kangbaier and WFOE, are not in violation of applicable PRC laws and regulations currently in effect; and (ii) the VIE Agreements among WFOE, Liaoning Kangbaier and its shareholders is legal, valid, binding, and enforceable in accordance with its terms and applicable PRC laws. However, our PRC legal counsel has also advised us that there are substantial uncertainties regarding the interpretation and application of current or future PRC laws and regulations. Accordingly, the PRC regulatory authorities may ultimately take a view contrary to the opinion of our PRC legal counsel. It is uncertain whether any new PRC laws or regulations relating to variable interest entity structures will be adopted or if adopted, what they would provide. If we or Liaoning Kangbaier are found to be in violation of any PRC laws or regulations, if the contractual arrangements among WFOE, Liaoning Kangbaier and its shareholders are determined as illegal or invalid by the PRC court, arbitral tribunal or regulatory authorities, or if we or Liaoning Kangbaier fail to obtain or maintain any of the required permits or approvals, the relevant PRC regulatory authorities would have broad discretion to take action in dealing with such violations or failures, including without limitation to:

● revoking the business and/or operating licenses of WFOE or Liaoning Kangbaier;

● discontinuing or restricting the operations of WFOE or Liaoning Kangbaier;

● imposing conditions or requirements with which we, WFOE, or Liaoning Kangbaier may not be able to comply;

● requiring us, WFOE, or Liaoning Kangbaier to restructure the relevant ownership structure or operations which may significantly impair the rights of the holders of our common stock in the equity of Liaoning Kangbaier; and

● imposing fines.

The imposition of any of these penalties would result in a material and adverse effect on our ability to conduct our business. In addition, it is unclear what impact the PRC government actions would have on us and on our ability to consolidate the financial results of Liaoning Kangbaier in our consolidated financial statements, if the PRC government authorities were to find our legal structure and contractual arrangements to be in violation of PRC laws and regulations. If the imposition of any of these government actions causes us to lose our right to direct the activities of Liaoning Kangbaier or our right to receive substantially all the economic benefits for accounting purposes and residual returns from Liaoning Kangbaier and we are not able to restructure our ownership structure and operations in a satisfactory manner, we would no longer be able to consolidate the financial results of Liaoning Kangbaier in our consolidated financial statements. Either of these results, or any other significant penalties that might be imposed on us in this event, would have a material adverse effect on our financial condition and results of operations and cause our Common stock to decline in value or become worthless.

***We rely on contractual arrangements with our variable interest entity and its subsidiaries in China for our business operations, which may not be as effective in providing operational control or enabling us to derive economic benefits as through ownership of controlling equity interests.***

We rely on and expect to continue to rely on our wholly owned PRC subsidiary's contractual arrangements with Liaoning Kangbaier and its shareholders to operate our business. These contractual arrangements may not be as effective in providing us with control over Liaoning Kangbaier as ownership of controlling equity interests would be in providing us with control over or enabling us to derive economic benefits from the operations of Liaoning Kangbaier. Under the current contractual arrangements, as a legal matter, if Liaoning Kangbaier or any of its shareholders executing the VIE Agreements fails to perform its, his or her respective obligations under these contractual arrangements, we may have to incur substantial costs and resources to enforce such arrangements, and rely on legal remedies available under PRC laws, including seeking specific performance or injunctive relief, and claiming damages, which we cannot assure you will be effective. For example, if shareholders of a variable interest entity were to refuse to transfer their equity interests in such variable interest entity to us or our designated persons when we exercise the purchase option pursuant to these contractual arrangements, we may have to take a legal action to compel them to fulfill their contractual obligations.

If (i) the applicable PRC authorities invalidate these contractual arrangements for violation of PRC laws, rules and regulations, (ii) any variable interest entity or its shareholders terminate the contractual arrangements or (iii) any variable interest entity or its shareholders fail to perform their obligations under these contractual arrangements, our business operations in China would be materially and adversely affected, and the value of your common stock would substantially decrease. Further, if we fail to renew these contractual arrangements upon their expiration, we would not be able to continue our business operations unless the then current PRC law allows us to directly operate businesses in China.

In addition, if any variable interest entity or all or part of its assets become subject to liens or rights of third-party creditors, we may be unable to continue some or all of our business activities, which could materially and adversely affect our business, financial condition and results of operations. If any of the variable interest entities undergoes a voluntary or involuntary liquidation proceeding, its shareholders or unrelated third- party creditors may claim rights to some or all of these assets, thereby hindering our ability to operate our business, which could materially and adversely affect our business and our ability to generate revenues.

All of these contractual arrangements are governed by PRC law and provide for the resolution of disputes through arbitration in the PRC. The legal environment in the PRC is not as developed as in some other jurisdictions, such as the United States. As a result, uncertainties in the PRC legal system could limit our ability to enforce these contractual arrangements. In the event we are unable to enforce these contractual arrangements, we may not be able to exert effective control over our PRC operating entities and we may be precluded from operating our business, which would have a material adverse effect on our financial condition and results of operations.

***Liaoning Kangbaier Shareholders may have potential conflicts of interest with us, which may materially and adversely affect our business and financial condition.***

The equity interests of Liaoning Kangbaier are held by a total of six shareholders. Their interests may differ from the interests of our Company as a whole. They may breach, or cause Liaoning Kangbaier to breach, or refuse to renew the existing VIE Agreements, which would have a material adverse effect on our ability to effectively control Liaoning Kangbaier and receive economic benefits from them through the VIE Agreements. Pursuant to the VIE Agreements, the VIE shall pay service fees equal to all of its net profit after tax payments to WFOE, while WFOE has the power to direct the activities of the VIE, which can significantly impact the VIE's economic performance and has the right to receive substantially all of the economic benefits of the VIE. Such contractual arrangements are designed so that the operations of the VIE are solely for the benefit of WFOE and, ultimately, the Company. As such, under U.S. GAAP, the Company is deemed to have a controlling financial interest in, and be the primary beneficiary of, the VIE for accounting purposes and must consolidate the VIE because it met the conditions under U.S. GAAP to consolidate the VIE.

The Liaoning Kangbaier Shareholders may be able to cause the VIE Agreements to be performed in a manner adverse to us by, among other things, failing to remit payments due under the VIE Agreements to us on a timely basis. We cannot assure you that when conflicts of interest arise, any or all of these shareholders will act in the best interests of our Company, or such conflicts will be resolved in our favor.

Currently, we do not have any arrangements to address potential conflicts of interest between these shareholders and our Company, except that we could exercise our purchase option under the Equity Disposal Agreement and Equity Pledge Agreement with these shareholders to request them to transfer all of their equity interests in Liaoning Kangbaier to a PRC entity or individual designated by us, to the extent permitted by PRC laws. If we cannot resolve any conflict of interest or dispute between us and the Liaoning Kangbaier Shareholders, we would have to rely on legal proceedings, which could result in the disruption of our business and subject us to substantial uncertainty as to the outcome of any such legal proceedings.

***Contractual arrangements in relation to our variable interest entity may be subject to scrutiny by the PRC tax authorities and they may determine that we or our PRC variable interest entity owe additional taxes, which could negatively affect our results of operations and the value of your investment.***

Under applicable PRC laws and regulations, arrangements and transactions among related parties may be subject to audit or challenge by the PRC tax authorities within ten years after the taxable year when the transactions are conducted. The PRC enterprise income tax law requires every enterprise in China to submit its annual enterprise income tax return together with a report on transactions with its related parties to the relevant tax authorities. The tax authorities may impose reasonable adjustments on taxation if they have identified any related party transactions that are inconsistent with arm's length principles. We may face material and adverse tax consequences if the PRC tax authorities determine that the contractual arrangements between our WFOE, our variable interest entity Liaoning Kangbaier and the Liaoning Kangbaier Shareholders were not entered into on an arm's length basis in such a way as to result in an impermissible reduction in taxes under applicable PRC laws, rules and regulations, and adjust Liaoning Kangbaier's income in the form of a transfer pricing adjustment. A transfer pricing adjustment could, among other things, result in a reduction of expense deductions recorded by Liaoning Kangbaier for PRC tax purposes, which could in turn increase their tax liabilities without reducing WFOE's tax expenses. In addition, if WFOE requests the of Liaoning Kangbaier Shareholders to transfer their equity interests in Liaoning Kangbaier at nominal or no value pursuant to these contractual arrangements, such transfer could be viewed as a gift and subject WFOE to PRC income tax. Furthermore, the PRC tax authorities may impose late payment fees and other penalties on Liaoning Kangbaier for the adjusted but unpaid taxes according to the applicable regulations. Our results of operations could be materially and adversely affected if Liaoning Kangbaier's tax liabilities increase or if they are required to pay late payment fees and other penalties.

***If we exercise the option to acquire equity ownership of Liaoning Kangbaier, the ownership transfer may subject us to certain limitation and substantial costs.***

Pursuant to the contractual arrangements, WFOE has the exclusive right to purchase all or any part of the equity interests in Liaoning Kangbaier from Liaoning Kangbaier Shareholders for a nominal price, unless the relevant government authorities or then applicable PRC laws request that a minimum price amount be used as the purchase price, in such case the purchase price shall be the lowest amount under such request. The shareholders of Liaoning Kangbaier will be subject to PRC individual income tax on the difference between the equity transfer price and the then current registered capital of Liaoning Kangbaier. Additionally, if such a transfer takes place, the competent tax authority may require WFOE to pay enterprise income tax for ownership transfer income with reference to the market value, in which case the amount of tax could be substantial.

***We may lose the ability to use and enjoy assets held by Liaoning Kangbaier that are material to the operation of certain portion of our business if Liaoning Kangbaier goes bankrupt or become subject to a dissolution or liquidation proceeding.***

As part of our contractual arrangements with Liaoning Kangbaier, Liaoning Kangbaier and its subsidiaries hold certain assets that are material to the operation of certain portion of our business, including intellectual property and licenses. If Liaoning Kangbaier goes bankrupt and all or part of its assets become subject to liens or rights of third-party creditors, we may be unable to continue some or all of our business activities, which could materially and adversely affect our business, financial condition and results of operations. Under the contractual arrangements, Liaoning Kangbaier may not, in any manner, sell, transfer, mortgage or dispose of their assets or legal or beneficial interests in the business without our prior consent. If Liaoning Kangbaier undergoes a voluntary or involuntary liquidation proceeding, independent third-party creditors may claim rights to some or all of these assets, thereby hindering our ability to operate our business, which could materially and adversely affect our business, financial condition and results of operations.

***The custodians or authorized users of our tangible assets, including chops and seals, may fail to fulfill their responsibilities, or misappropriate or misuse these assets, all of which may jeopardize our control over our PRC subsidiary and the VIE.***

Under the PRC law, legal documents for corporate transactions, including agreements and contracts are usually executed using the chop or seal of the signing entity or with the signature of a legal representative whose designation is registered and filed with relevant PRC market regulation administrative authorities.

In order to secure the use of our chops and seals, we have established internal control procedures and rules for using these chops and seals. In any event that the chops and seals are intended to be used, the responsible personnel will submit the application through our office automation system and the application will be verified and approved by authorized employees in accordance with our internal control procedures and rules. In addition, in order to maintain the physical security of our chops, we generally have them stored in secured locations accessible only to authorized employees. Although we monitor such authorized employees, the procedures may not be sufficient to prevent all instances of abuse or negligence. There is a risk that our employees could abuse their authority, for example, by entering into a contract not approved by us or seeking to gain control of one of our PRC subsidiaries or the VIE entity. If any employee obtains, misuses, or misappropriates our chops and seals or other controlling non-tangible assets for whatever reason, we could experience disruption to our normal business operations. We may have to take corporate or legal action, which could involve significant time and resources to resolve and divert management from our operations.

**Risks Related to Doing Business in China** 

***A severe or prolonged downturn in the global or Chinese economy could materially and adversely affect our business and our financial condition.***

Although the Chinese economy expanded well in the last two decades, the rapid growth of the Chinese economy has slowed down since 2012, and there is considerable uncertainty over the long-term effects of the expansionary monetary and fiscal policies adopted by the People's Bank of China and financial authorities of some of the world's leading economies, including the United States and China. There have been concerns over unrest and terrorist threats in the Middle East, Europe, and Africa, which have resulted in volatility in oil and other markets. There have also been concerns on the relationship among China and other Asian countries, which may result in or intensify potential conflicts in relation to territorial disputes. Economic conditions in China are sensitive to global economic conditions, as well as changes in domestic economic and political policies and the expected or perceived overall economic growth rate in China. Any severe or prolonged slowdown in the global or Chinese economy may materially and adversely affect our business, results of operations and financial condition.

***PRC regulation of loans to, and direct investments in, PRC entities by offshore holding companies may delay or prevent us from using proceeds from this offering and/or future financing activities to make loans or additional capital contributions to our PRC operating entities.***

As an offshore holding company with PRC entities, we may transfer funds to our PRC subsidiary or finance our PRC operating entities by means of loans or capital contributions. Any capital contributions or loans that we, as an offshore entity, make to our PRC subsidiary, including from the proceeds of this offering, are subject to PRC regulations. Any loans to our PRC subsidiary, which is a foreign-invested enterprise, cannot exceed statutory limits, and shall be registered with China's State Administration of Foreign Exchange ("SAFE"), or its local counterparts. Furthermore, for any capital increase contributions we make to our PRC subsidiary, we shall submit a change report through relevant system to China's Ministry of Commerce ("MOFCOM"), or its local counterparts. If we are not able to conform to these government requirements on a timely basis, our ability to make equity contributions or provide loans to our PRC operating entities or to fund their operations may be negatively affected, which may adversely affect their liquidity and ability to fund their working capital and expansion projects and meet their obligations and commitments. As a result, our liquidity and our ability to fund and expand our business may be negatively affected.

***We must remit the offering proceeds to China before they may be used to benefit our business in China, and this process may take several months to complete.***

The proceeds of this offering must be sent back to China, and the process for sending such proceeds back to China may take as long as six months after the closing of this offering. In utilizing the proceeds of this offering in the manner described in "Use of Proceeds," as an offshore holding company of our PRC operating entities (our PRC subsidiary, the VIE and the VIE's subsidiaries), we may make loans to our PRC subsidiary, or we may make additional capital contributions to our PRC subsidiary. Any loans to our PRC subsidiary are subject to PRC regulations. For example, loans by us to our subsidiary in China, Erhua, which is a foreign-invested enterprise, to finance its activities cannot exceed statutory limits and must be registered with SAFE.

To remit the proceeds of the offering, we must take the following steps:

● First, we will open a special foreign exchange account for capital account transactions. To open this account, we must submit to the banks at the place of registration certain application forms, identity documents, transaction documents, form of foreign exchange registration of overseas investments of the domestic residents, and the relevant business registration certificate of the invested company.

● Second, we will remit the offering proceeds into this special foreign exchange account.

● Third, we will apply for settlement of the foreign exchange. In order to do so, we must submit to the banks at the place of registration certain application forms, identity documents, payment order to a designated person, and a tax certificate.

The timing of the process is difficult to estimate because the efficiencies of different banks and SAFE branches can vary significantly. Ordinarily the process takes several months but is required by law to be accomplished within 180 days of application.

If we decide to finance our PRC operating entities by means of capital contributions, we are required to apply for an enterprise change registration to the relevant market supervision authority, and a change report of capital contributions must be submitted at the time of completion of enterprise change registration. We cannot assure you that we will be able to obtain these government approvals or complete the necessary government registrations on a timely basis, if at all, with respect to future capital contributions by us to our subsidiaries. If we fail to complete such registrations or receive such approvals, our ability to use the proceeds of this offering and to capitalize our Chinese operations may be negatively affected, which could adversely affect our liquidity and our ability to fund and expand our business. If we fail to receive such approvals, our ability to use the proceeds of this offering and to capitalize our Chinese operations may be negatively affected, which could adversely affect our liquidity and our ability to fund and expand our business.

***Changes in China's economic, political, or social conditions or government policies could have a material adverse effect on our business and operations.***

Substantially all of our assets and operations are currently located in China. Accordingly, our business, financial condition, results of operations, and prospects may be influenced to a significant degree by political, economic, and social conditions in China generally. The Chinese economy differs from the economies of most developed countries in many respects, including the level of government involvement, level of development, growth rate, control of foreign exchange, and allocation of resources. Although the Chinese government has implemented measures emphasizing the utilization of market forces for economic reform, including the reduction of state ownership of productive assets and the establishment of improved corporate governance in business enterprises, a substantial portion of productive assets in China is still owned by the government. In addition, the Chinese government continues to play a significant role in regulating industry development by imposing industrial policies. The Chinese government also exercises significant control over China's economic growth by allocating resources, controlling payment of foreign currency-denominated obligations, setting monetary policy, and providing preferential treatment to particular industries or companies.

While the Chinese economy has experienced significant growth over the past decades, growth has been uneven, both geographically and among various sectors of the economy. Any adverse changes in economic conditions in China, in the policies of the Chinese government, or in the laws and regulations in China could have a material adverse effect on the overall economic growth of China. Such developments could adversely affect our business and operating results, reduce demand for our products, and weaken our competitive position. The Chinese government has implemented various measures to encourage economic growth and guide the allocation of resources. Some of these measures may benefit the overall Chinese economy but may have a negative effect on us. For example, our financial condition and results of operations may be adversely affected by government control over capital investments or changes in tax regulations. In addition, in the past the Chinese government has implemented certain measures, including interest rate adjustments, to control the pace of economic growth. These measures may cause decreased economic activities in China, which may adversely affect our business and operating results.

Furthermore, we and our PRC operating entities, as well as our investors, face uncertainty about future actions by the Chinese government that could significantly affect our financial performance and operations, including the enforceability of the VIE contractual arrangements. If future laws, administrative regulations, or provisions mandate further actions to be taken by companies with respect to existing VIE contractual arrangements, we may face substantial uncertainties as to whether we can complete such actions in a timely manner, or at all. Failure to take timely and appropriate measures to adapt to any of these or similar regulatory compliance challenges could materially and adversely affect our current corporate structure and business operations.

***We may be exposed to liabilities under the Foreign Corrupt Practices Act and Chinese anti-corruption law.***

As a result of this transaction, we became subject to the U.S. Foreign Corrupt Practices Act (the "FCPA"), and other laws that prohibit improper payments or offers of payments to foreign governments and their officials and political parties by U.S. persons and issuers as defined by the statute for the purpose of obtaining or retaining business. We are also subject to Chinese anti-corruption laws, which strictly prohibit the payment of bribes to government officials. We have operations, agreements with third parties, and make sales in China, which may experience corruption. Our activities in China create the risk of unauthorized payments or offers of payments by one of the employees, consultants or distributors of our Company, because these parties are not always subject to our control.

Although we believe to date, we have complied in all material respects with the provisions of the FCPA and Chinese anti-corruption law, our existing safeguards and any future improvements may prove to be less than effective, and the employees, consultants or distributors of our Company may engage in conduct for which we might be held responsible. Violations of the FCPA or Chinese anti-corruption law may result in severe criminal or civil sanctions, and we may be subject to other liabilities, which could negatively affect our business, operating results and financial condition. In addition, the government may seek to hold our Company liable for successor liability FCPA violations committed by companies in which we invest or that we acquire.

***Uncertainties with respect to the PRC legal system could adversely affect us.***

We conduct all of our business through our subsidiary and variable interest entities in China. Our operations in China are governed by PRC laws and regulations. Our PRC subsidiary and variable interest entities are generally subject to laws and regulations applicable to foreign investments in China and, in particular, laws and regulations applicable to wholly foreign-owned enterprises. The PRC legal system is based on statutes. Prior court decisions may be cited for reference but have limited precedential value.

Since 1979, PRC legislation and regulations have significantly enhanced the protections afforded to various forms of foreign investments in China. However, China has not developed a fully integrated legal system and recently enacted laws and regulations may not sufficiently cover all aspects of economic activities in China. In particular, because these laws and regulations are relatively new, and because of the limited volume of published decisions and their nonbinding nature, the interpretation and enforcement of these laws and regulations involve uncertainties. In addition, the PRC legal system is based in part on government policies and internal rules (some of which are not published on a timely basis or at all) that may have a retroactive effect. As a result, we may not be aware of our violation of these policies and rules until sometime after the violation. In addition, any litigation in China may be protracted and result in substantial costs and diversion of resources and management attention.

PRC regulation of loans and direct investment by offshore holding companies to PRC entities may delay or prevent us from using the proceeds of this offering to make loans or additional capital contributions to our PRC subsidiary, which could materially and adversely affect our liquidity and our ability to fund and expand our business.

Any loans to our PRC subsidiary are subject to PRC regulations. For example, loans by us to our subsidiary in China, which is a foreign invested entity ("FIE"), to finance its activities cannot exceed statutory limits and must be registered with SAFE. On March 30, 2015, SAFE promulgated Hui Fa [2015] No. 19, a notice regulating the conversion by a foreign-invested company of foreign currency into RMB. The foreign exchange capital, for which the monetary contribution has been confirmed by the foreign exchange authorities (or for which the monetary contribution has been registered for account entry) in the capital account of a foreign-invested enterprise may be settled at a bank as required by the enterprise's actual management needs. Foreign-invested enterprises with investment as their main business (including foreign-oriented companies, foreign-invested venture capital enterprises and foreign-invested equity investment enterprises) are allowed to, under the premise of authenticity and compliance of their domestic investment projects, carry out based on their actual investment scales direct settlement of foreign exchange capital or transfer the RMB funds in the foreign exchange settlement account for pending payment to the invested enterprises' accounts.

On May 10, 2013, SAFE released Circular 21, which came into effect on May 13, 2013. According to Circular 21, SAFE has simplified the foreign exchange administration procedures with respect to the registration, account openings and conversions, settlements of FDI-related foreign exchange, as well as fund remittances.

Circular 21 may significantly limit our ability to convert, transfer and use the net proceeds from any offering of additional equity securities in China, which may adversely affect our liquidity and our ability to fund and expand our business in the PRC.

We may also decide to finance our PRC operating entities by means of capital contributions. These capital contributions must be approved by MOFCOM or its local counterpart, which usually takes no more than 30 working days to complete. We may not be able to obtain these government approvals on a timely basis, if at all, with respect to future capital contributions by us to our PRC subsidiaries. If we fail to receive such approvals, we will not be able to capitalize our PRC operations, which could adversely affect our liquidity and our ability to fund and expand our business.

***Recent greater oversight by the CAC over data security, particularly for companies seeking to list on a foreign exchange, could adversely impact our business and our proposed offering.***

On December 28, 2021, the CAC, together with 12 other governmental departments of the PRC, jointly promulgated the Cybersecurity Review Measures, which became on February 15, 2022. The Cybersecurity Review Measures provide that, in addition to critical information infrastructure operators ("CIIOs") that intend to purchase Internet products and services, data processing operators engaging in data processing activities that affect or may affect national security must be subject to cybersecurity review by the Cybersecurity Review Office of the PRC. According to the Cybersecurity Review Measures, a cybersecurity review assesses potential national security risks that may be brought about by any procurement, data processing, or overseas listing. The Cybersecurity Review Measures further require that CIIOs and data processing operators that possess personal data of at least one million users must apply for a review by the Cybersecurity Review Office of the PRC before conducting listings in foreign countries.

On November 14, 2021, the CAC published the Security Administration Draft, which provides that data processing operators engaging in data processing activities that affect or may affect national security must be subject to network data security review by the relevant Cyberspace Administration of the PRC. According to the Security Administration Draft, data processing operators who possess personal data of at least one million users or collect data that affects or may affect national security must be subject to network data security review by the relevant Cyberspace Administration of the PRC. The deadline for public comments on the Security Administration Draft was December 13, 2021.

As of the date of this Report, we have not received any notice from any authorities identifying any of our PRC subsidiaries or the VIE as a CIIOs or requiring us to go through cybersecurity review or network data security review by the CAC. We believe that our listing in the U.S. will not be affected by the Cybersecurity Review Measures or Security Administration Draft, and our PRC operations are not subject to cybersecurity review or network data security review by the CAC, because our PRC subsidiaries are not CIIOs or data processing operators with personal information of more than 1 million users. There remains uncertainty, however, as to how the Cybersecurity Review Measures and the Security Administration Draft will be interpreted or implemented and whether the PRC regulatory agencies, including the CAC, may adopt new laws, regulations, rules, or detailed implementation and interpretations related to the Cybersecurity Review Measures and the Security Administration Draft. If any such new laws, regulations, rules, or implementation and interpretation come into effect, we expect to take all reasonable measures and actions to comply and to minimize the adverse effect of such laws on us. We cannot guarantee, however, that we will not be subject to cybersecurity review or network data security review in the future.

***The Chinese government exerts substantial influence over the manner in which we must conduct our business and may intervene or influence our operations at any time, which could result in a material change in our operations, significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of our Common stock to significantly decline or be worthless.***

The Chinese government has exercised and continues to exercise substantial control over virtually every sector of the Chinese economy through regulation and state ownership. Our ability to operate in China may be harmed by changes in its laws and regulations, including those relating to taxation, environmental regulations, land use rights, property, and other matters. The central or local governments of these jurisdictions may impose new, stricter regulations or interpretations of existing regulations that would require additional expenditures and efforts on our part to ensure our compliance with such regulations or interpretations. Accordingly, government actions in the future, including any decision not to continue to support recent economic reforms and to return to a more centrally planned economy or regional or local variations in the implementation of economic policies, could have a significant effect on economic conditions in China or particular regions thereof, and could require us to divest ourselves of any interest we then hold in Chinese properties.

As such, our business is subject to various government and regulatory interferences. We could be subject to regulation by various political and regulatory entities, including various local and municipal agencies and government sub-divisions. The Company may incur increased costs necessary to comply with existing and newly adopted laws and regulations or penalties for any failure to comply. Our operations could be adversely affected, directly or indirectly, by existing or future laws and regulations relating to its business or industry, which could result in a material change in our operation and the value of our Common stock.

***There are uncertainties regarding the enforcement of laws and rules and regulations in China, which can change quickly with little advance notice, and there is a risk that the Chinese government may exert more oversight and control over offerings that are conducted overseas, which could materially and adversely affect our business and hinder our ability to offer or continue our operations and cause the value of our securities to significantly decline or become worthless.***

The PRC legal system is based on written statutes. Unlike common law systems, it is a system in which legal cases have limited value as precedents. There are uncertainties regarding the enforcement of PRC laws, and rules and regulations in China can change quickly with little advance notice. Any actions by the Chinese government to exert more oversight and control over offerings that are conducted overseas could materially and adversely affect our business and hinder our ability to offer or continue our operations and cause the value of our securities to significantly decline or become worthless. For example, the Chinese cybersecurity regulator announced on July 2, 2021, that it had begun an investigation of Didi Global Inc. (NYSE: DIDI) and two days later ordered that company's app be removed from smartphone app stores. In December 2021, DIDI announced that it would delist from the New York Stock Exchange less than six months after its initial public offering.

There are substantial uncertainties regarding the interpretation and application of PRC laws and regulations including, but not limited to, the laws and regulations governing our business and the enforcement and performance of our arrangements with customers in certain circumstances. The laws and regulations are sometimes vague and may be subject to future changes, and their official interpretation and enforcement may involve substantial uncertainty. In fact, the PRC legal system is evolving rapidly, and the interpretations of many laws, regulations and rules may contain inconsistencies and enforcement of these laws, regulations and rules involves uncertainties. The effectiveness and interpretation of newly enacted laws or regulations, including amendments to existing laws and regulations, may be delayed, and our business may be affected if we rely on laws and regulations which are subsequently adopted or interpreted in a manner different from our understanding of these laws and regulations. New laws and regulations that affect existing and proposed future businesses may also be applied retroactively. Furthermore, if China adopts more stringent standards with respect to environmental protection or social issues, which are increasingly becoming the focus globally, we may incur increased compliance cost or become subject to additional restrictions in our operations. We cannot predict what effect the interpretation of existing or new PRC laws or regulations may have on our business.

From time to time, we may have to resort to administrative and court proceedings to enforce our legal rights. Since PRC administrative and court authorities have significant discretion in interpreting and implementing statutory and contractual terms, it may be more difficult to evaluate the outcome of administrative and court proceedings and the level of legal protection we enjoy in the PRC legal system than in more developed legal systems. Furthermore, the PRC legal system is based in part on government policies and internal rules (some of which are not published in a timely manner or at all) that may have retroactive effect. As a result, we may not be aware of our violation of these policies and rules until sometime after the violation. Such uncertainties, including uncertainties over the scope and effect of our contractual, property (including intellectual property) and procedural rights, and any failure to respond to changes in the regulatory environment in China could materially and adversely affect our business and impede our ability to continue our operations.

For example, on July 6, 2021, the General Office of the Communist Party of China Central Committee and the General Office of the State Council jointly issued an announcement to crack down on illegal activities in the securities market and promote the high-quality development of the capital market, which, among other things, requires the relevant governmental authorities to strengthen cross-border oversight of law-enforcement and judicial cooperation, to enhance supervision over China-based companies listed overseas, and to establish and improve the system of extraterritorial application of the PRC securities laws. Since this announcement is relatively new, uncertainties still exist in relation to how soon legislative or administrative regulation making bodies will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any, and the potential impact such modified or new laws and regulations will have on companies like us. Any actions by the Chinese government to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based issuers could significantly limit or completely hinder your ability to offer or continue to offer securities to investors and cause the value of such securities to significantly decline or be worthless.

***Our contractual arrangements with Liaoning Kangbaier are governed by the laws of the PRC and we may have difficulty in enforcing any rights we may have under these contractual arrangements.***

As all of our contractual arrangements with Liaoning Kangbaier are governed by the PRC laws and provide for the resolution of disputes through arbitration in the PRC, they would be interpreted in accordance with PRC law and any disputes would be resolved in accordance with PRC legal procedures. Disputes arising from these contractual arrangements between us, and Liaoning Kangbaier will be resolved through arbitration in China, although these disputes do not include claims arising under the United States federal securities law and thus do not prevent you from pursuing claims under the United States federal securities law. The legal environment in the PRC is not as developed as in the United States. As a result, uncertainties in the PRC legal system could further limit our ability to enforce these contractual arrangements, through arbitration, litigation and other legal proceedings remain in China, which could limit our ability to enforce these contractual arrangements and exert effective control over Liaoning Kangbaier. Furthermore, these contracts may not be enforceable in China if PRC government authorities or courts take a view that such contracts contravene PRC laws and regulations or are otherwise not enforceable for public policy reasons. In the event we are unable to enforce these contractual arrangements, we may not be able to exert effective control over Liaoning Kangbaier, and our ability to conduct our business may be materially and adversely affected.

***We are a holding company, and we rely for funding on dividend payments from our PRC operating entities, which are subject to restrictions under PRC laws.***

We are a holding company incorporated in the British Virgin Islands, and we operate our core businesses through the VIE and its subsidiaries in the PRC. Therefore, the availability of funds for us to pay dividends to our shareholders and to service our indebtedness depends upon dividends received from the VIE and its subsidiaries. If the VIE and its subsidiaries incur debt or losses, their ability to pay dividends or other distributions to us may be impaired. As a result, our ability to pay dividends and to repay our indebtedness will be restricted. PRC laws require that dividends be paid only out of the after-tax profit of our PRC entities calculated according to PRC accounting principles, which differ in many aspects from generally accepted accounting principles in other jurisdictions. PRC laws also require enterprises established in the PRC to set aside part of their after-tax profits as statutory reserves. These statutory reserves are not available for distribution as cash dividends. In addition, restrictive covenants in bank credit facilities or other agreements that we or our subsidiaries may enter into in the future may also restrict the ability of our subsidiaries to pay dividends to us. These restrictions on the availability of our funding may impact our ability to pay dividends to our shareholders and to service our indebtedness.

***Our business may be materially and adversely affected if any of our PRC operating entities declare bankruptcy or become subject to a dissolution or liquidation proceeding.***

The Enterprise Bankruptcy Law of the PRC, or the Bankruptcy Law, came into effect on June 1, 2007. The Bankruptcy Law provides that an enterprise will be liquidated if the enterprise fails to settle its debts as and when they fall due and if the enterprise's assets are, or are demonstrably, insufficient to clear such debts.

Our PRC operating entities hold certain assets that are important to our business operations. If any of our PRC operating entities undergoes a voluntary or involuntary liquidation proceeding, unrelated third-party creditors may claim rights to some or all of these assets, thereby hindering our ability to operate our business, which could materially and adversely affect our business, financial condition and results of operations.

According to SAFE's Notice of the State Administration of Foreign Exchange on Further Improving and Adjusting Foreign Exchange Administration Policies for Direct Investment, effective on December 17, 2012, and the Provisions for Administration of Foreign Exchange Relating to Inbound Direct Investment by Foreign Investors, effective May 13, 2013, if any of our PRC operating entities undergoes a voluntary or involuntary liquidation proceeding, prior approval from SAFE for remittance of foreign exchange to our shareholders abroad is no longer required, but we still need to conduct a registration process with the SAFE local branch. It is not clear whether "registration" is a mere formality or involves the kind of substantive review process undertaken by SAFE and its relevant branches in the past.

***Under the PRC Enterprise Income Tax Law, or the EIT Law, we may be classified as a "resident enterprise" of China, which could result in unfavorable tax consequences to us and our non-PRC shareholders.***

The EIT Law and its implementing rules provide that enterprises established outside of China whose "de facto management bodies" are located in China are considered "resident enterprises" under PRC tax laws. The implementing rules promulgated under the EIT Law define the term "de facto management bodies" as a management body which substantially manages, or has control over the business, personnel, finance, and assets of an enterprise.

In April 2009, the State Administration of Taxation, or SAT, issued the Circular on Issues Concerning the Identification of Chinese- Controlled Overseas Registered Enterprises as Resident Enterprises in Accordance With the Actual Standards of Organizational Management, known as SAT Circular 82, which has been revised by the Decision of the State Administration of Taxation on Issuing the Lists of Invalid and Abolished Tax Departmental Rules and Taxation Normative Documents on December 29, 2017 and by the Decision of the State Council on Cancellation and Delegation of a Batch of Administrative Examination and Approval Items on November 8, 2013. Circular 82 has provided certain specific criteria for determining whether the "de facto management bodies" of a PRC-controlled enterprise that is incorporated offshore is located in China. Although this circular only applies to offshore enterprises controlled by PRC enterprises or PRC enterprise groups, not those controlled by PRC individuals or foreigners, the criteria set forth in the circular may reflect the SAT's general position on how the "de facto management body" text should be applied in determining the tax resident status of all offshore enterprises.

According to SAT Circular 82, a Chinese-controlled offshore incorporated enterprise will be regarded as a PRC tax resident by virtue of having a "de facto management body" in China and will be subject to PRC enterprise income tax on its worldwide income only if all of the following criteria are met: (i) the places where senior management and senior management departments that are responsible for daily production, operation and management of the enterprise perform their duties are mainly located within the territory of China; (ii) financial decisions (such as money borrowing, lending, financing and financial risk management) and personnel decisions (such as appointment, dismissal, salary and wages) are made or need to be made by organizations or persons located within the territory of China; (iii) main property, accounting books, corporate seal, the board of directors and files of the minutes of shareholders' meetings of the enterprise are located or preserved within the territory of China; and (iv) one half (or more) of the directors or senior management staff having the right to vote habitually reside within the territory of China.

We believe that Cambell International is not a resident enterprise for PRC tax purpose. Cambell Internationals is not controlled by a PRC enterprise or PRC enterprise group, and we do not meet some of the conditions outlined in the immediately preceding paragraph. For example, as a holding company, the key assets, and records of Cambell International, including the resolutions and meeting minutes of our board of directors and the resolutions and meeting minutes of our shareholders, are located, and maintained outside the PRC. In addition, we are not aware of any offshore holding companies with a corporate structure similar to ours that has been deemed a PRC "resident enterprise" by the PRC tax authorities. However, as the tax residency status of an enterprise is subject to determination by the PRC tax authorities and uncertainties remain with respect to the interpretation of the term "de facto management body".

If we are deemed as a PRC "resident enterprise" by PRC tax authorities, we will be subject to PRC enterprise income tax on our worldwide income at a uniform tax rate of 25%, although dividends distributed to us from our existing PRC subsidiary and any other PRC subsidiaries which we may establish from time to time could be exempt from the PRC dividend withholding tax due to our PRC "resident recipient" status. This could have a material and adverse effect on our overall effective tax rate, our income tax expenses and our net income. Furthermore, dividends, if any, paid to our shareholders may be decreased as a result of the decrease in distributable profits. In addition, if we were considered a PRC "resident enterprise", any dividends we pay to our non-PRC investors, and the gains realized from the transfer of our common stock may be considered income derived from sources within the PRC and be subject to PRC tax, at a rate of 10% in the case of non-PRC enterprises or 20% in the case of non-PRC individuals (in each case, subject to the provisions of any applicable tax treaty). It is unclear whether holders of our common stock would be able to claim the benefits of any tax treaties between their country of tax residence and the PRC in the event that we are treated as a PRC resident enterprise. This could have a material and adverse effect on the value of your investment in us and the price of our common stock.

***Substantial uncertainties exist with respect to the interpretation of the PRC Foreign Investment Law and how it may impact the viability of our current corporate structure, corporate governance, and business operations.***

On March 15, 2019, the National People's Congress ("NPC") promulgated the PRC Foreign Investment Law, which took effect on January 1, 2020. Since it is relatively new, substantially uncertainties exist in relation to its interpretation and implementation. The PRC Foreign Investment Law does not explicitly classify whether consolidated affiliated entities based on contractual arrangements would be deemed as foreign invested enterprises if they are ultimately "controlled" by foreign investors. However, it has a catch-all provision under definition of "foreign investment" that includes investments made by foreign investors in China through other means as provided by laws, administrative regulations or other methods prescribed by the State Council. Therefore, it still leaves leeway for future laws, administrative regulations, or provisions of the State Council to provide for contractual arrangements as a form of foreign investment, at which time it will be uncertain whether the contractual arrangements will be deemed to be in violation of the market access requirements for foreign investment in the PRC and if yes, how the VIE Agreements should be dealt with.

The PRC Foreign Investment Law grants national treatment to foreign-invested entities, except for those foreign-invested entities that operate in industries specified as either "restricted" or "prohibited" from foreign investment in the Negative List (2021). The PRC Foreign Investment Law provides that (i) foreign-invested entities operating in "restricted" industries are required to obtain market entry clearance and other approvals from relevant PRC government authorities; and (ii) foreign investors shall not invest in any industries that are "prohibited" under the Negative List (2021). If VIE Agreements with Liaoning Kangbaier are deemed as foreign investment in the future, and any business of Liaoning Kangbaier is "restricted" or "prohibited" from foreign investment under the Negative List (2021) effective at the time, we may be deemed to be in violation of the PRC Foreign Investment Law, the VIE Agreements with Liaoning Kangbaier may be deemed as invalid and illegal, and we may be required to unwind such VIE Agreements and/or restructure our business operations, any of which may have a material adverse effect on our business operation.

Furthermore, if future laws, administrative regulations, or provisions mandate further actions to be taken by companies with respect to existing contractual arrangements, we may face substantial uncertainties as to whether we can complete such actions in a timely manner, or at all. Failure to take timely and appropriate measures to cope with any of these or similar regulatory compliance challenges could materially and adversely affect our current corporate structure, business operations and the value of our Ordinary Shares.

***Fluctuations in exchange rates could adversely affect our business and the value of our securities.***

Changes in the value of the RMB against the U.S. dollar, Euro and other foreign currencies are affected by, among other things, changes in China's political and economic conditions. Any significant revaluation of the RMB may have a material adverse effect on our revenues and financial condition, and the value of, and any dividends payable on our shares in U.S. dollar terms. For example, to the extent that we need to convert U.S. dollars we receive from our initial public offering into RMB for our operations, appreciation of the RMB against the U.S. dollar would have an adverse effect on RMB amount we would receive from the conversion. Conversely, if we decide to convert our RMB into U.S. dollars for the purpose of paying dividends on our Common stock or for other business purposes, appreciation of the U.S. dollar against the RMB would have a negative effect on the U.S. dollar amount available to us. In addition, fluctuations of the RMB against other currencies may increase or decrease the cost of imports and exports, and thus affect the price-competitiveness of our products against products of foreign manufacturers or products relying on foreign inputs.

Since July 2005, the RMB is no longer pegged to the U.S. dollar. Although the People's Bank of China regularly intervenes in the foreign exchange market to prevent significant short-term fluctuations in the exchange rate, the RMB may appreciate or depreciate significantly in value against the U.S. dollar in the medium to long term. Moreover, it is possible that in the future PRC authorities may lift restrictions on fluctuations in the RMB exchange rate and lessen intervention in the foreign exchange market.

***Government control in currency conversion may adversely affect our financial condition, our ability to remit dividends, and the value of your investment.***

The PRC government imposes controls on the convertibility of the Renminbi into foreign currencies and, in certain cases, the remittance of currency out of China. We receive substantially all of our revenues in Renminbi. Under our current corporate structure, our British Virgin Islands holding company may rely on dividend payments from our PRC operating entities to fund any cash and financing requirements we may have.

Under existing PRC foreign exchange regulations, Renminbi cannot be freely converted into any foreign currency, and conversion and remittance of foreign currencies are subject to PRC foreign exchange regulations. It cannot be guaranteed that under a certain exchange rate, we will have sufficient foreign exchange to meet our foreign exchange requirements. Under the current PRC foreign exchange control system, foreign exchange transactions under the current account conducted by us, including the payment of dividends, do not require advance approval from SAFE, but we are required to present documentary evidence of such transactions and conduct such transactions at designated foreign exchange banks within China that have the licenses to carry out foreign exchange business. Foreign exchange transactions under the capital account conducted by us, however, must be approved in advance by SAFE.

Under existing foreign exchange regulations, we are able to pay dividends in foreign currencies without prior approval from SAFE by complying with certain procedural requirements. However, we cannot assure you that these foreign exchange policies regarding payment of dividends in foreign currencies will continue in the future.

In fact, in light of the flood of capital outflows of China in 2016 due to the weakening Renminbi, the PRC government has imposed more restrictive foreign exchange policies and stepped up scrutiny of major outbound capital movement including overseas direct investment. More restrictions and substantial vetting process are put in place by SAFE to regulate cross-border transactions falling under the capital account. If any of our shareholders regulated by such policies fails to satisfy the applicable overseas direct investment filing or approval requirement timely or at all, it may be subject to penalties from the relevant PRC authorities. The PRC government may at its discretion further restrict access in the future to foreign currencies for current account transactions. If the foreign exchange control system prevents us from obtaining sufficient foreign currencies to satisfy our foreign currency demands, we may not be able to pay dividends in foreign currencies to our shareholders, including holders of the Common stock. Our capital expenditure plans, and our business, operating results and financial condition may be materially and adversely affected.

***To the extent cash or assets of our business, or of our PRC or Hong Kong subsidiaries, or of the VIE is in mainland China or Hong Kong, such cash or assets may not be available to fund operations or for other use outside of the PRC or Hong Kong, due to interventions in or the imposition of restrictions and limitations by the PRC government to the transfer of cash or assets.***

The transfer of funds and assets among Cambell International, its subsidiaries and the VIE is subject to governmental control and restriction. The PRC government imposes controls on the conversion of the RMB into foreign currencies and the remittance of currencies out of mainland China. In addition, the PRC Enterprise Income Tax Law and its implementation rules provide that a withholding tax at a rate of 10% will be applicable to dividends payable by Chinese companies to enterprises who are not mainland China resident enterprises, unless reduced under treaties or arrangements between the PRC central government and the governments of other countries or regions where the enterprises that are not mainland China resident enterprises are tax resident.

As of the date of this report, there are no restrictions or limitations imposed by the Hong Kong government on the transfer of capital within, into and out of Hong Kong (including funds from Hong Kong to the PRC), except for the transfer of funds involving money laundering and criminal activities. However, there is no guarantee that the Hong Kong government will not promulgate new laws or regulations that may impose such restrictions in the future.

As a result of the above, to the extent cash or assets of our business, or of our PRC or Hong Kong subsidiaries, or of the VIE is in mainland China or Hong Kong, such funds or assets may not be available to fund operations or for other use outside of the PRC or Hong Kong, due to interventions in or the imposition of restrictions and limitations by the competent government to the transfer of cash or assets.

***Increases in labor costs in the PRC may adversely affect our business and results of operations.***

The currently effective *PRC Labor Contract Law*, or the Labor Contract Law was first adopted on June 29, 2007 and later amended on December 28, 2012. The PRC Labor Contract Law has reinforced the protection of employees who, under the Labor Contract Law, have the right, among others, to have written employment contracts, to enter into employment contracts with no fixed term under certain circumstances, to receive overtime wages and to terminate or alter terms in labor contracts. Furthermore, the Labor Contract Law sets forth additional restrictions and increases the costs involved with dismissing employees. To the extent that we need to significantly reduce our workforce, the Labor Contract Law could adversely affect our ability to do so in a timely and cost-effective manner, and our results of operations could be adversely affected. In addition, for employees whose employment contracts include noncompetition terms, the Labor Contract Law requires us to pay monthly compensation after such employment is terminated, which will increase our operating expenses.

We expect that our labor costs, including wages and employee benefits, will continue to increase. Unless we are able to pass on these increased labor costs to our customers by increasing the prices of our products, our financial conditions and results of operations would be materially and adversely affected.

***We may be subject to penalties if we are not in compliance with the PRC's regulations relating to employee's social insurance and housing funds.***

Pursuant to the Social Security Law of the PRC, or the Social Security Law, which was promulgated by the Standing Committee of the National People's Congress ("SCNPC") on October 28, 2010, and amended on December 29, 2018, employers shall pay the basic pension insurance, medical insurance, work-related injury insurance, unemployment insurance and maternity insurance for all eligible employees. Liaoning Kangbaier and its subsidiaries have been making social security premium payments at least at the minimum wage level for all eligible employees.

In accordance with the Regulations on Management of Housing Provident Fund (the "Regulations of HPF"), which were promulgated by the PRC State Council on April 3, 1999, and last amended on March 24, 2002, employers must register at the designated administrative centers and open bank accounts for employees' housing funds deposits. Employers and employees are also required to pay and deposit housing funds, in an amount no less than 5% of the monthly average salary of each of the employees in the preceding year in full and on time. Liaoning Kangbaier and its subsidiaries have opened bank accounts for its employees' housing funds deposits, and deposited housing funds at least at the minimum wage level for all eligible employees.

Liaoning Kangbaier did not make contributions in full for the social insurance fund and housing provident fund for its employees as required under the relevant PRC laws and regulations. Although Liaoning Kangbaier has not received any order or notice from the local authorities nor any claims or complaints from its current and former employees regarding its non-compliance in this regard, Liaoning Kangbaier cannot assure you that Liaoning Kangbaier will not be subject to any order to rectify non-compliance in the future, nor can Liaoning Kangbaier assures you that there are no, or will not be any, employee complaints regarding social insurance payment or housing provident fund contributions against Liaoning Kangbaier, or that it will not receive any claims in respect of social insurance payment or housing provident fund contributions under the PRC laws and regulation. In addition, Liaoning Kangbaier may incur additional costs to comply with such laws and regulations by the PRC Government or relevant local authorities. Any such development could materially and adversely affect its business, financial condition and results of operations.

***If we become directly subject to the recent scrutiny, criticism and negative publicity involving U.S.-listed Chinese companies, we may have to expend significant resources to investigate and resolve the matter, which could harm our business operations, this offering, and our reputation, and could result in a loss of your investment in our stock, especially if such matter cannot be addressed and resolved favorably.***

Recently, U.S. public companies that have substantially all of their operations in China, have been the subject of intense scrutiny, criticism and negative publicity by investors, financial commentators and regulatory agencies, such as the SEC. Much of the scrutiny, criticism and negative publicity has centered around financial and accounting irregularities, a lack of effective internal controls over financial accounting, inadequate corporate governance policies or a lack of adherence thereto and, in many cases, allegations of fraud. As a result of the scrutiny, criticism and negative publicity, the publicly traded stock of many U.S. listed Chinese companies has sharply decreased in value and, in some cases, has become virtually worthless. Many of these companies are now subject to shareholder lawsuits and SEC enforcement actions and are conducting internal and external investigations into the allegations. It is not clear what effect this sector-wide scrutiny, criticism and negative publicity will have on our Company, our business and this offering. If we become the subject of any unfavorable allegations, whether such allegations are proven to be true or untrue, we will have to expend significant resources to investigate such allegations and/or defend the Company. This situation may be a major distraction to our management. If such allegations are not proven to be groundless, our Company and business operations will be severely hampered and your investment in our stock could be rendered worthless.

***You may face difficulties in protecting your interests and exercising your rights as a shareholder since we conduct substantially all of our operations in China, and almost all of our officers and directors reside outside the U.S.***

Although we are incorporated in the British Virgin Islands, we conduct substantially all of our operations in China. All of our current officers and almost all of our directors reside outside the U.S. and substantially all of the assets of those persons are located outside of the U.S. It may be difficult for you to conduct due diligence on the Company or such directors in your election of the directors and attend shareholders meeting if the meeting is held in China. We plan to have one shareholder meeting each year at a location to be determined, potentially in China. As a result of all of the above, our public shareholders may have more difficulty in protecting their interests through actions against our management, directors or major shareholders than would shareholders of a corporation doing business entirely or predominantly within the U.S.

***We may not be able to prevent others from unauthorized use of our intellectual property, which could harm our business and competitive position.***

We regard our patents, trademarks, domain names, trade secrets, proprietary technologies, and other intellectual property as critical to our business. We rely on a combination of intellectual property laws and contractual arrangements to protect our proprietary rights. It is often difficult to register, maintain, and enforce intellectual property rights in China. Statutory laws and regulations are subject to judicial interpretation and enforcement and may not be applied consistently due to the lack of clear guidance on statutory interpretation. Confidentiality agreements and license agreements may be breached by counterparties, and there may not be adequate remedies available to us for any such breach. Accordingly, we may not be able to effectively protect our intellectual property rights or to enforce our contractual rights in China. Policing any unauthorized use of our intellectual property is difficult and costly and the steps we have taken may be inadequate to prevent the misappropriation of our intellectual property. In the event that we resort to litigation to enforce our intellectual property rights, such litigation could result in substantial costs and a diversion of our managerial and financial resources. We can provide no assurance that we will prevail in such litigation. In addition, our trade secrets may be leaked or otherwise become available to, or be independently discovered by, our competitors. Any failure in protecting or enforcing our intellectual property rights could have a material adverse effect on our business, financial condition, and results of operations.

**Risks Related to Our Common Stock** 

***Our common stock is quoted on the OTC market, which may have an unfavorable impact on our stock price and liquidity.***

Our common stock is quoted on the OTC market. The OTC market is a significantly more limited market than the New York Stock Exchange or NASDAQ. The quotation of our shares on the OTC market may result in a less liquid market available for existing and potential stockholders to trade shares of our common stock, could depress the trading price of our common stock and could have a long-term adverse impact on our ability to raise capital in the future. We plan to list our common stock as soon as practicable. However, we cannot assure you that we will be able to meet the initial listing standards of any stock exchange, or that we will be able to maintain any such listing.

***We are subject to penny stock regulations and restrictions, and you may have difficulty selling shares of our common stock.***

The SEC has adopted regulations which generally define so-called "penny stocks" to be an equity security that has a market price less than $5.00 per share or an exercise price of less than $5.00 per share, subject to certain exemptions. Our common stock is a "penny stock" and is subject to Rule 15g-9 under the Exchange Act, or the Penny Stock Rule. This rule imposes additional sales practice requirements on broker-dealers that sell such securities to persons other than established customers and "accredited investors" (generally, individuals with a net worth in excess of $1,000,000 or annual incomes exceeding $200,000, or $300,000 together with their spouses). For transactions covered by Rule 15g-9, a broker-dealer must make a special suitability determination for the purchaser and have received the purchaser's written consent to the transaction prior to sale. As a result, this rule may affect the ability of broker-dealers to sell our securities and may affect the ability of purchasers to sell any of our securities in the secondary market, thus possibly making it more difficult for us to raise additional capital.

For any transaction involving a penny stock, unless exempt, the rules require delivery, prior to any transaction in penny stock, of a disclosure schedule prepared by the SEC relating to the penny stock market. Disclosure is also required to be made about sales commissions payable to both the broker-dealer and the registered representative and current quotations for the securities. Finally, monthly statements are required to be sent disclosing recent price information for the penny stock held in the account and information on the limited market in penny stock.

There can be no assurance that our common stock will qualify for exemption from the Penny Stock Rule. In any event, even if our common stock were exempt from the Penny Stock Rule, we would remain subject to Section 15(b)(6) of the Exchange Act, which gives the SEC the authority to restrict any person from participating in a distribution of penny stock if the SEC finds that such a restriction would be in the public interest.

***Since our CEO owns at least 49% of our Common Stock, she could have the ability to elect directors and approve matters requiring shareholder approval by way of resolutions of members.***

Ms. Sun Xiuzhi, our Chief Executive Officer, after the completion of the reverse merger, owns 850,640, or 12% of our outstanding common stock and also beneficially owns 7,655,760 shares of our Series A Preferred Shares ("Preferred Shares") which are convertible into 7,655,760 shares of our common stock. Therefore, if she converts all of her preferred shares into common shares, she will own 8,506,400 shares of our common stock or 49% and therefore could have the power to elect all directors and approve all ordinary resolutions requiring a simple majority shareholder. She would also have significant influence over any decision to enter into any corporate transaction and the ability to prevent any transaction that requires the approval of shareholders, regardless of whether or not our other shareholders believe that such transaction is in the Company's best interests. Such concentration of voting power could have the effect of delaying, deterring, or preventing a change of control or other business combination, which could, in turn, have an adverse effect on the market price of our common stock or prevent our shareholders from realizing a premium over the then-prevailing market price for their common stock.

***If we fail to implement and maintain an effective system of internal controls or fail to remediate the material weaknesses in our internal control over financial reporting that have been identified, we may fail to meet our reporting obligations or be unable to accurately report our results of operations or prevent fraud, and investor confidence and the market price of our Common stock may be materially and adversely affected.***

Prior to this transaction, we have been a private company with limited accounting personnel and other resources with which to address our internal controls and procedures. Our independent registered public accounting firm has not conducted an audit of our internal control over financial reporting. However, in preparing our consolidated financial statements as of and for the fiscal years ended 2022 and 2021, we and our independent registered public accounting firm have identified material weaknesses in our internal control over financial reporting, as defined in the standards established by the Public Company Accounting Oversight Board of the United States, or "PCAOB," and other control deficiencies. The material weaknesses identified included (i) a lack of accounting staff and resources with appropriate knowledge of U.S. GAAP and SEC reporting and compliance requirements; (ii) a lack of formal internal controls over financial closing and reporting processes; and (iii) a lack of independent directors and an audit committee. Following the identification of the material weaknesses and control deficiencies, we plan to continue to take remedial measures including (i) hiring more qualified accounting personnel with relevant U.S. GAAP and SEC reporting experience and qualifications to strengthen the financial reporting function and to set up a financial and system control framework; (ii) implementing regular and continuous U.S. GAAP accounting and financial reporting training programs for our accounting and financial reporting personnel; (iii) setting up an internal audit function as well as engaging an external consulting firm to assist us with assessment of Sarbanes-Oxley compliance requirements and improvement of overall internal control; and (iv) appointing independent directors, establishing an audit committee, and strengthening corporate governance. However, the implementation of these measures may not fully address the material weaknesses in our internal control over financial reporting. Our failure to correct the material weaknesses or our failure to discover and address any other material weaknesses or control deficiencies could result in inaccuracies in our financial statements and could also impair our ability to comply with applicable financial reporting requirements and related regulatory filings on a timely basis. As a result, our business, financial condition, results of operations and prospects, as well as the trading price of our Common stock, may be materially and adversely affected. Moreover, ineffective internal control over financial reporting significantly hinders our ability to prevent fraud.

As a public company in the United States, we are subject to the Sarbanes-Oxley Act of 2002. Pursuant to Section 404 of the Sarbanes-Oxley Act, we will be required to file a report by our management on our internal control over financial reporting, including an attestation report on internal control over financial reporting issued by our independent registered public accounting firm. However, while we remain an emerging growth company, we will not be required to include an attestation report on internal control over financial reporting issued by our independent registered public accounting firm. The presence of material weaknesses in internal control over financial reporting could result in financial statement errors which, in turn, could lead to errors in our financial reports and/or delays in our financial reporting, which could require us to restate our operating results. We might not identify one or more material weaknesses in our internal controls in connection with evaluating our compliance with Section 404 of the Sarbanes-Oxley Act. In order to maintain and improve the effectiveness of our disclosure controls and procedures and internal controls over financial reporting, we will need to expend significant resources and provide significant management oversight. Implementing any appropriate changes to our internal controls may require specific compliance training of our directors and employees, entail substantial costs in order to modify our existing accounting systems, take a significant period of time to complete and divert management's attention from other business concerns. These changes may not, however, be effective in maintaining the adequacy of our internal control.

***As a foreign private issuer, we are not subject to certain U.S. securities law disclosure requirements that apply to a domestic U.S. issuer, which may limit the information publicly available to our shareholders.***

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As a foreign private issuer, we are not required to comply with all of the periodic disclosure and current reporting requirements of the Exchange Act and therefore there may be less publicly available information about us than if we were a U.S. domestic issuer. For example, we are not subject to the proxy rules in the United States and disclosure with respect to our annual general meetings will be governed by British Virgin Islands' requirements. In addition, our officers, directors, and principal shareholders are exempt from the reporting and "short-swing" profit recovery provisions of Section 16 of the Exchange Act and the rules thereunder. Therefore, our shareholders may not know on a timely basis when our officers, directors and principal shareholders purchase or sell our Common stock.

***The newly enacted "Holding Foreign Companies Accountable Act" and the "Accelerating Holding Foreign Companies Accountable Act" passed by the U.S. Senate, all call for additional and more stringent criteria to be applied to emerging market companies upon assessing the qualification of their auditors, especially the non-U.S. auditors who are not inspected by the Public Company Accounting Oversight Board of the United States (the "PCAOB"). These developments could add uncertainties to our offering and listing on the Nasdaq Capital Market and Nasdaq may determine to delist our securities if the PCAOB determines that it cannot inspect or fully investigate our auditor, which may cause the value of our securities to decline or become worthless.***

On April 21, 2020, SEC and PCAOB released a joint statement highlighting the risks associated with investing in companies based in or having substantial operations in emerging markets including China. The joint statement emphasized the risks associated with lack of access for the PCAOB to inspect auditors and audit work papers in China and higher risks of fraud in emerging markets.

On May 18, 2020, Nasdaq filed three proposals with the SEC to (i) apply a minimum offering size requirement for companies primarily operating in a "Restrictive Market," (ii) adopt a new requirement relating to the qualification of management or the board of directors for Restrictive Market companies, and (iii) apply additional and more stringent criteria to an applicant or listed company based on the qualifications of the company's auditor.

On December 18, 2020, the "Holding Foreign Companies Accountable Act" was signed by President Donald Trump and became law. This legislation requires certain issuers of securities to establish that they are not owned or controlled by a foreign government. Specifically, an issuer must make this certification if the PCAOB is unable to audit specified reports because the issuer has retained a foreign public accounting firm not subject to inspection by the PCAOB. Furthermore, if the PCAOB is unable to inspect the issuer's public accounting firm for three consecutive years beginning in 2021, the issuer's securities are banned from trade on a national exchange or through other methods.

On June 22, 2021, the U.S. Senate passed the "Accelerating Holding Foreign Companies Accountable Act", which, if passed by the U.S. House of Representatives and signed into law by the President, would decrease the number of non-inspection years for foreign companies to comply with PCAOB audits from three to two years, thus reducing the time period before their securities may be prohibited from trading or delisted.

On November 5, 2021, the SEC approved the PCAOB's Rule 6100, Board Determinations Under the "Holding Foreign Companies Accountable Act". Rule 6100 provides a framework for the PCAOB to use to determine whether it is unable to inspect or investigate registered public accounting firms located in a foreign jurisdiction because of a position taken by one or more authorities in that jurisdiction. On December 2, 2021, The SEC adopted amendments to finalize rules implementing the submission and disclosure requirements in the Holding Foreign Companies Accountable Act (HFCAA). The rules apply to registrants the SEC identifies as having filed an annual report with an audit report issued by a registered public accounting firm that is located in a foreign jurisdiction and that the PCAOB is unable to inspect or investigate.

If the PCAOB is prevented from fully evaluating audits and quality control procedures of the auditors, investors may be deprived of the benefits of such PCAOB inspections. The inability of the PCAOB to conduct inspections of auditors in China makes it more difficult to evaluate the effectiveness of these accounting firm's audit procedures or quality control procedures as compared to auditors outside of China that are subject to the PCAOB inspections, which could cause investors and potential investors to lose confidence in audit procedures and reported financial information and the quality of financial statements of China-based companies.

On December 16, 2021, the PCAOB issued a report on its determination that the PCAOB is unable to inspect or investigate completely PCAOB- registered public accounting firms headquartered in mainland China and in Hong Kong, a Special Administrative Region of the People's Republic of China (PRC), because of positions taken by PRC authorities in those jurisdictions (the "Determination"). The Board made these determinations pursuant to PCAOB Rule 6100, which provides a framework for how the PCAOB fulfills its responsibilities under the Holding Foreign Companies Accountable Act (HFCAA).

On August 26, 2022, the China Securities Regulatory Commission (the "CSRC"), the Ministry of Finance of the PRC (the "MOF"), and the PCAOB signed a Statement of Protocol (the "Protocol") to allow the PCAOB to inspect and investigate completely registered public accounting firms headquartered in mainland China and Hong Kong, consistent with the Holding Foreign Companies Accountable Act (the "HFCA Act"), and the PCAOB will be required to reassess its determinations by the end of 2022. Pursuant to the fact sheet with respect to the Protocol disclosed by the SEC, the PCAOB shall have independent discretion to select any issuer audits for inspection or investigation and has the unfettered ability to transfer information to the SEC.

On December 15, 2022, the PCAOB Board determined that the PCAOB was able to secure complete access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong and voted to vacate its previous determinations to the contrary. However, should PRC authorities obstruct or otherwise fail to facilitate the PCAOB's access in the future, the PCAOB Board will consider the need to issue a new determination. On December 29, 2022, the Accelerating Holding Foreign Companies Accountable Act was enacted, which amended the HFCA Act by decreasing the number of non-inspection years from three years to two, thus reducing the time period before our common stock may be prohibited from trading or delisted. Notwithstanding the foregoing, in the event it is later determined that the PCAOB is unable to inspect or investigate completely our auditor, then such lack of inspection could cause our securities to be delisted from the stock exchange.

Any lack of access to the PCAOB inspection in China may prevent the PCAOB from fully evaluating audits and quality control procedures of the auditors based in China. As a result, the investors may be deprived of the benefits of such PCAOB inspections. The inability of the PCAOB to conduct inspections of auditors in China makes it more difficult to evaluate the effectiveness of these accounting firms' audit procedures or quality control procedures as compared to auditors outside of China that are subject to the PCAOB inspections, which could cause existing and potential investors to lose confidence in audit procedures and reported financial information and the quality of financial statements of China-based companies.

Our auditor, an independent registered public accounting firm that issues the audit report included elsewhere in this Report, is headquartered in San Mateo, California and registered with the PCAOB. Our auditor is subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess our auditor's compliance with the applicable professional standards and has been inspected by the PCAOB on a regular basis. As such, as of the date of this report, our auditor is not subject to the Determinations announced by the PCAOB and our listing is not affected by the Holding Foreign Companies Accountable Act and related regulations. However, the recent developments would add uncertainties to our continued listing, and we cannot assure you whether Nasdaq or regulatory authorities would apply additional and more stringent criteria to us after considering the effectiveness of our auditor's audit procedures and quality control procedures, adequacy of personnel and training, or sufficiency of resources, geographic reach or experience as related to the audit of our financial statements. Furthermore, there is a risk that our auditor cannot be inspected by the PCAOB in the future. The lack of inspection could cause trading in our securities to be prohibited on a national exchange or in the over-the-counter trading market under the Holding Foreign Companies Accountable Act, and, as a result, Nasdaq may determine to delist our securities, which may cause the value of our securities to decline or become worthless.

***As a foreign private issuer, we are not subject to certain U.S. securities law disclosure requirements that apply to a domestic U.S. issuer and are exempt from certain Nasdaq corporate governance standards applicable to U.S. issuers, which may limit the information publicly available to our investors and afford them less protection than if we were an U.S. issuer.***

As a foreign private issuer, we are permitted to take advantage of certain provisions in the Nasdaq Stock Market listing rules that allow us to follow British Virgin Islands law for certain governance matters. Certain corporate governance practices in the British Virgin Islands may differ significantly from corporate governance listing standards as, except for general fiduciary duties and duties of care, British Virgin Islands law has no corporate governance regime which prescribes specific corporate governance standards. When our common shares are listed on the Nasdaq Capital Market, we intend to continue to follow British Virgin Islands corporate governance practices in lieu of the corporate governance requirements of the Nasdaq Stock Market in respect of the following: (i) the majority independent director requirement under Section 5605(b)(1) of the Nasdaq Stock Market listing rules, (ii) the requirement under Section 5605(d) of the Nasdaq Stock Market listing rules that a compensation committee comprised solely of independent directors governed by a compensation committee charter oversee executive compensation, (iii) the requirement under Section 5605(e) of the Nasdaq Stock Market listing rules that director nominees be selected or recommended for selection by either a majority of the independent directors or a nominations committee comprised solely of independent directors and (iv) the requirement under Section 5605(b)(2) of the Nasdaq Stock Market listing rules that our independent directors hold regularly scheduled executive sessions. British Virgin Islands law does not impose a requirement that our board of directors consist of a majority of independent directors. Nor does British Virgin Islands law impose specific requirements on the establishment of a compensation committee or nominating committee or nominating process. Therefore, our shareholders may be afforded less protection than they otherwise would have under corporate governance listing standards applicable to U.S. domestic issuers.

As a foreign private issuer, we are not required to comply with all of the periodic disclosure and current reporting requirements of the Exchange Act and therefore there may be less publicly available information about us than if we were a U.S. domestic issuer. We are exempt from certain provisions of the securities rules and regulations in the United States that are applicable to U.S. domestic issuers, including:

● the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q or current reports on Form 8-K;

● the sections of the Exchange Act regulating the solicitation of proxies, consents, or authorizations in respect of a security registered under the Exchange Act;

● the sections of the Exchange Act requiring insiders to file public reports of their stock ownership and trading activities and liability for insiders who profit from trades made in a short period of time; and the selective disclosure rules by issuers of material non-public information under Regulation FD.

We are required to file an annual report on Form 20-F within four months of the end of each fiscal year. However, the information we are required to file with or furnish to the SEC will be less extensive and less timely compared to that required to be filed with the SEC by U.S. domestic issuers. As a result, you may not be afforded the same protections or information that would be made available to you were you investing in a U.S. domestic issuer.

***We may lose our foreign private issuer status in the future, which could result in significant additional costs and expenses.***

As discussed above, we are a foreign private issuer, and therefore, we are not required to comply with all of the periodic disclosure and current reporting requirements of the Exchange Act. The determination of foreign private issuer status is made annually on the last business day of an issuer's most recently completed second fiscal quarter, and, accordingly, the next determination with respect to our status will be made on ___________. We would lose our foreign private issuer status if, for example, more than 50% of our common stock are directly or indirectly held by residents of the U.S. and we fail to meet additional requirements necessary to maintain our foreign private issuer status. If we lose our foreign private issuer status on this date, we will be required to file with the SEC periodic reports and registration statements on U.S. domestic issuer forms beginning on ________, which are more detailed and extensive than the forms available to a foreign private issuer. We will also have to mandatorily comply with U.S. federal proxy requirements, and our officers, directors and principal shareholders will become subject to the short- swing profit disclosure and recovery provisions of Section 16 of the Exchange Act. In addition, we will lose our ability to rely upon exemptions from certain corporate governance requirements under the Nasdaq Stock Market listing rules. As a U.S. listed public company that is not a foreign private issuer, we will incur significant additional legal, accounting, and other expenses that we will not incur as a foreign private issuer, and accounting, reporting and other expenses in order to maintain a listing on a U.S. securities exchange.

***We do not intend to pay dividends for the foreseeable future.***

For the foreseeable future, we intend to retain any earnings to finance the development and expansion of our business, and we do not anticipate paying any cash dividends on our common stock. Accordingly, investors must be prepared to rely on sales of their common stock after price appreciation to earn an investment return, which may never occur. Investors seeking cash dividends should not purchase our common stock. Any determination to pay dividends in the future will be made at the discretion of our board of directors and will depend on our results of operations, financial condition, contractual restrictions, restrictions imposed by applicable law and other factors our board deems relevant.

***The laws of the British Virgin Islands may not provide our shareholders with benefits comparable to those provided to shareholders of corporations incorporated in the United States.***

Our corporate affairs are governed by our memorandum and articles of association, by the BVI Business Companies Act (Revised 2020) of the British Virgin Islands and by the common law of the British Virgin Islands. The rights of shareholders to take action against our directors, actions by minority shareholders and the fiduciary responsibilities of our directors to us under British Virgin Islands law are to a large extent governed by the common law of the British Virgin Islands. The common law in the British Virgin Islands is derived in part from comparatively limited judicial precedent in the British Virgin Islands and from English common law. which has persuasive, but not binding, authority on a court in the British Virgin Islands. The rights of our shareholders and the fiduciary responsibilities of our directors under British Virgin Islands law are not as clearly established as they would be under statutes or judicial precedents in some jurisdictions in the United States. In particular, the British Virgin Islands has a less developed body of securities laws as compared to the United States, and some states (such as Delaware) have more fully developed and judicially interpreted bodies of corporate law. Therefore, our public shareholders may have more difficulty protecting their interests in the face of actions by our management, directors or controlling shareholders than would shareholders of a corporation incorporated in a jurisdiction in the United States.

***Because we are a British Virgin Islands company and all of our business is conducted in the PRC, you may be unable to bring an action against us or our officers and directors or to enforce any judgment you may obtain, and the U.S. regulatory bodies may be limited in their ability to conduct investigations or inspections of our operations in China.***

We are incorporated in the British Virgin Islands and conduct our operations primarily in China. Substantially all of our assets are located outside of the United States and the proceeds of this offering will primarily be held in banks outside of the United States. In addition, the majority of our directors and officers reside outside of the United States. As a result, it may be difficult or impossible for you to bring an action against us or against these individuals in the United States in the event that you believe we have violated your rights, either under United States federal or state securities laws or otherwise, or if you have a claim against us. Even if you are successful in bringing an action of this kind, the laws of the British Virgin Islands and of China may not permit you to enforce a judgment against our assets or the assets of our directors and officers.

The SEC, the U.S. Department of Justice and other U.S. authorities may also have difficulties in bringing and enforcing actions against us or our directors or executive officers in the PRC. The SEC has stated that there are significant legal and other obstacles to obtaining information needed for investigations or litigation in China. China has recently adopted a revised securities law, and Article 177 of which provides, among other things, that no overseas securities regulator is allowed to directly conduct investigation or evidence collection activities within the territory of the PRC. Accordingly, without governmental approval in China, no entity or individual in China may provide documents and information relating to securities business activities to overseas regulators when it is under direct investigation or evidence discovery conducted by overseas regulators, which could present significant legal and other obstacles to obtaining information needed for investigations and litigation conducted in China.

***Provisions in our charter documents and under Nevada law could discourage a takeover that stockholders may consider favorable.***

***You may be unable to present proposals before annual general meetings or extraordinary general meetings not called by shareholders.***

British Virgin Islands law provides shareholders with only limited rights to requisition a general meeting and does not provide shareholders with any right to put any proposal before a general meeting. These rights, however, may be provided in a company's articles of association. Our articles of association allow our shareholders holding shares representing in aggregate not less than 10% of our voting share capital in issue, to requisition a general meeting of our shareholders, in which case our directors are obliged to call such meeting. Advance notice of at least twenty-one clear days is required for the convening of our annual general shareholders' meeting and at least 14 clear days' notice any other general meeting of our shareholders. A quorum required for a meeting of shareholders consists of at least one shareholder present or by proxy, representing not less than one-third of the total issued shares carrying the right to vote at a general meeting of the Company.

**General Risk Factors** 

***We may not be able to hire and retain qualified personnel to support our growth and if we are unable to retain or hire these personnel in the future, our ability to improve our products and implement our business objectives could be adversely affected.***

We must attract, recruit, and retain a sizeable workforce of technically competent employees. Competition for senior management and personnel in the PRC is intense and the pool of qualified candidates in the PRC is limited. We may not be able to retain the services of our senior executives or personnel or attract and retain high-quality senior executives or personnel in the future. This failure could materially and adversely affect our future growth and financial condition.

***Our success depends on our ability to increase awareness of our brands and develop customer loyalty***.

Our portfolio of nutritional products is comprised of quality products. Our brands are integral to our sales and marketing efforts. We believe that maintaining and enhancing our brand name recognition in a cost-effective manner is critical to achieving widespread acceptance of our current and future products and is an important element in our effort to increase our customer base. Successful promotion of our brand names will depend largely on our marketing efforts and ability to provide reliable and quality products at competitive prices. Brand promotion activities may not necessarily yield increased revenue, and even if they do, any increased revenue may not offset the expenses we will incur in marketing activities. If we fail to successfully promote and maintain our brand, or if we incur substantial expenses in an unsuccessful attempt to promote and maintain our brands, we may fail to attract new customers or retain our existing customers, in which case our business, operating results and financial condition, would be materially adversely affected.

***We require various approvals, licenses, permits and certifications to operate our business. If we fail to obtain or renew any of these approvals, licenses, permits or certifications, it could materially and adversely affect our business and results of operations.***

In accordance with the laws and regulations in the jurisdictions in which we operate, we are required to maintain various approvals, licenses, permits and certifications in order to operate our business or engage in the business we plan to enter into. Complying with such laws and regulations may require substantial expenses, any non-compliance may expose us to liability. In the event of that government authorities consider us to be in non-compliance, we may have to incur significant expenses and divert substantial management time to rectify the incidents. If we fail to obtain all the necessary approvals, licenses, permits and certifications, we may be subject to fines or the suspension of operations of the facilities that do not have the requisite approvals, licenses, permits or certifications, which would adversely affect our reputation, business and results of operations. See "Regulation" for further details on the requisite approvals license permits and certifications.

***Adverse publicity associated with our products, materials, or network marketing program, or those of similar companies, could harm our financial condition and operating results.***

The results of our operations may be significantly affected by the public's perception of our product and similar companies. This perception is dependent upon opinions concerning:

● the safety and quality of our products;

● the safety and quality of similar products distributed by other companies; and

● our downstream dealers.

Adverse publicity concerning any actual or purported failure to comply with applicable laws and regulations regarding product claims and advertising, good manufacturing practices, or other aspects of our business, whether or not resulting in enforcement actions or the imposition of penalties, could have an adverse effect on our goodwill and could negatively affect our sales and ability to generate revenue. In addition, our consumers' perception of the safety and quality of products and ingredients as well as similar products and distributed by other companies can be significantly influenced by media attention, publicized scientific research or findings, widespread product liability claims and other publicity concerning our products or ingredients, or similar products and ingredients distributed by other companies. Adverse publicity, whether or not accurate or resulting from consumers' use or misuse of our products, that associates consumption of our products or ingredients or any similar products or ingredients with illness or other adverse effects, questions the benefits of our or similar products or claims that any such products are ineffective, inappropriately labeled or have inaccurate instructions as to their use, could negatively impact our reputation or the market demand for our products.

***An active, liquid, and orderly trading market for our common stock may not r be maintained, and our stock price may be volatile.***

An active, liquid, and orderly trading market for our common stock which usually result in less price volatility and more efficiency in carrying out investors' purchase and sale orders may not be maintained. The market price of our common stock may vary significantly as a result of a number of factors, some of which are beyond our control. In the event of a drop in the market price of our common stock, you could lose a substantial part or all of your investment in our common stock.

The following factors could affect our share price:

● our operating and financial performance;

● quarterly variations in the rate of growth of our financial indicators, such as net income per share, net income and revenues;

● the public reaction to our press releases, our other public announcements and our filings with the SEC;

● strategic actions by our competitors;

● changes in revenue or earnings estimates, or changes in recommendations or withdrawal of research coverage, by equity research analysts;

● speculation in the press or investment community;

● the failure of research analysts to cover our common stock;

● sales of our common stock by us or other shareholders, or the perception that such sales may occur;

● changes in accounting principles, policies, guidance, interpretations or standards;

● additions or departures of key management personnel;

● actions by our shareholders;

● domestic and international economic, legal and regulatory factors unrelated to our performance; and

● the realization of any risks described under this "Risk Factors" section.

***We may experience extreme stock price volatility unrelated to our actual or expected operating performance, financial condition, or prospects, making it difficult for prospective investors to assess the rapidly changing value of our common stock.***

There have been recent instances of extreme stock price run-ups followed by rapid price declines and strong stock price volatility with a number of recent initial public offerings, especially among companies with relatively smaller public floats. As a relatively small-capitalization company with relatively small public float, we may experience greater share price volatility, extreme price run-ups, lower trading volume and less liquidity than large-capitalization companies. In particular, our common stock may be subject to rapid and substantial price volatility, low volumes of trades and large spreads in bid and ask prices. Such volatility, including any share run-up, may be unrelated to our actual or expected operating performance, financial condition, or prospects, making it difficult for prospective investors to assess the rapidly changing value of our common stock. In addition, investors of our common stock may experience losses, which may be material, if the price of our common stock declines after investors purchase common stock prior to any price decline.

The stock markets in general have experienced extreme volatility that has often been unrelated to the operating performance of particular companies. These broad market fluctuations may adversely affect the trading price of our common stock. Securities class action litigation has often been instituted against companies following periods of volatility in the overall market and in the market price of a company's securities. Such litigation, if instituted against us, could result in very substantial costs, divert our management's attention and resources and harm our business, operating results and financial condition.

***For as long as we are an emerging growth company, we will not be required to comply with certain reporting requirements, including those relating to accounting standards and disclosure about our executive compensation, that apply to other public companies.***

In April 2012, President Obama signed into law the JOBS Act. We are classified as an "emerging growth company" under the JOBS Act. For as long as we are an emerging growth company, which may be up to five full fiscal years, unlike other public companies, we will not be required to, among other things, (i) provide an auditor's attestation report on management's assessment of the effectiveness of our system of internal control over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act, (ii) comply with any new requirements adopted by the PCAOB requiring mandatory audit firm rotation or a supplement to the auditor's report in which the auditor would be required to provide additional information about the audit and the financial statements of the issuer, (iii) provide certain disclosure regarding executive compensation required of larger public companies or (iv) hold nonbinding advisory votes on executive compensation. We will remain an emerging growth company for up to five years, although we will lose that status sooner if we have more than $1.235 billion of revenues in a fiscal year, have more than $700 million in market value of our Common stock held by non-affiliates, or issue more than $1.0 billion of non-convertible debt over a three-year period.

To the extent that we rely on any of the exemptions available to emerging growth companies, you will receive less information about our executive compensation and internal control over financial reporting than issuers that are not emerging growth companies. If some investors find our Common stock to be less attractive as a result, there may be a less active trading market for our Common stock and our stock price may be more volatile.

***The requirements of being a public company may strain our resources and divert management's attention.***

As a public company, we are subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, or the Exchange Act, the Sarbanes-Oxley Act, the Dodd-Frank Act, the listing requirements of the securities exchange on which we list, and other applicable securities rules and regulations. Despite recent reforms made possible by the JOBS Act, compliance with these rules and regulations will nonetheless increase our legal, accounting, and financial compliance costs and investor relations and public relations costs, make some activities more difficult, time- consuming or costly and increase demand on our systems and resources, particularly after we are no longer an "emerging growth company." The Exchange Act requires, among other things, that we file annual, quarterly, and current reports with respect to our business and operating results as well as proxy statements.

As a result of disclosure of information in this report and in filings required of a public company, our business and financial condition will become more visible, which we believe may result in threatened or actual litigation, including by competitors and other third parties. If such claims are successful, our business and operating results could be harmed, and even if the claims do not result in litigation or are resolved in our favor, these claims, and the time and resources necessary to resolve them, could divert the resources of our management and adversely affect our business, brand and reputation and results of operations.

We also expect that being a public company and these new rules and regulations will make it more expensive for us to obtain director and officer liability insurance, and we may be required to accept reduced coverage or incur substantially higher costs to obtain coverage. These factors could also make it more difficult for us to attract and retain qualified members of our board of directors, particularly to serve on our audit committee and compensation committee, and qualified executive officers.

***CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS***

*This report contains certain statements that may be deemed "forward-looking statements" within the meaning of United States of America securities laws. All statements, other than statements of historical fact, that address activities, events or developments that we intend, expect, project, believe or anticipate and similar expressions or future conditional verbs such as will, should, would, could or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate.*

*These statements include, without limitation, statements about our anticipated expenditures, including those related to general and administrative expenses; the potential size of the market for our services, future development and/or expansion of our services in our markets, our ability to generate revenues, our ability to obtain regulatory clearance and expectations as to our future financial performance. Our actual results will likely differ, perhaps materially, from those anticipated in these forward-looking statements as a result of various factors, including: our need and ability to raise additional cash. The forward-looking statements included in this report are subject to a number of additional material risks and uncertainties, including but not limited to the risks described in our filings with the Securities and Exchange Commission.*

*The following discussion and analysis of our financial condition and results of operations should be read together with our financial statements and the related notes to those statements included in this filing. In addition to historical financial information, this discussion may contain forward-looking statements reflecting our current plans, estimates, beliefs and expectations that involve risks and uncertainties. As a result of many important factors, particularly those set forth under "Special Note Regarding Forward-Looking Statements", our actual results and the timing of events may differ materially from those anticipated in these forward-looking statements.*

**MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.** 

*The following discussion of our financial condition and results of operations should be read in conjunction with our audited consolidated financial statements and the notes to those consolidated financial statements appearing elsewhere in this report.*

*Certain statements in this report constitute forward-looking statements. These forward-looking statements include statements, which involve risks and uncertainties, regarding, among other things, (a) our projected sales, profitability, and cash flows, (b) our growth strategy, (c) anticipated trends in our industry, (d) our future financing plans, and (e) our anticipated needs for, and use of, working capital. They are generally identifiable by use of the words "may," "will," "should," "anticipate," "estimate," "plan," "potential," "project," "continuing," "ongoing," "expects," "management believes," "we believe," "we intend," or the negative of these words or other variations on these words or comparable terminology. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained in this filing will in fact occur. You should not place undue reliance on these forward-looking statements.*

*The forward-looking statements speak only as of the date on which they are made, and, except to the extent required by federal securities laws, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date on which the statements are made or to reflect the occurrence of unanticipated events.*

**Overview**

Following the consummation of the Share Exchange, we engage in the research and development of extraction processes of natural β -carotene, the planting and harvesting of raw materials as well as the production, distribution marketing and sales of natural β -carotene health food products. Natural β -carotene is a safe source of vitamin A which is an essential nurturant important for vision, growth, cell division, reproduction and immunity as well as containing antioxidant properties which offer protection from diabetes, heart disease and cancer.

Bitmis Corp., or Bitmis, owns 100% of the issued and outstanding capital stock of Cambell International Holding Limited, which was incorporated on September 23, 2020 under the law of British Virgin Islands. Cambell International Holding Limited is a holding company holding the following entities:

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| | | | |
|:---|:---|:---|:---|
| Win&win Industrial Development Limited | ● | A British Virgin Islands company | 100% |
| ("Win&win") | ● | Principal activities: Investment holding |  |
| BJK Holding Group Limited | ● | A Hong Kong company | 100% |
| ("BJK Holding") | ● | Principal activities: Investment holding |  |
| Baijiakang (LiaoNing) Health Information Consulting Service Co., Ltd | ● | A PRC limited liability company and deemed a wholly foreign-invested enterprise | 100% |
| ("Baijiakang Consulting") | ● | Principal activities: Consultancy and information technology support |  |
| LiaoNing KangBaiEr Biotechnology Development Co., Ltd. | ● | A PRC limited liability company | VIE by contractual |
| ("Liaoning Kangbaier") | ● | Incorporated on September 22, 2015 | arrangements |
|  | ● | Principal activities: research and development of extraction processes of natural β - carotene, the planting and harvesting of raw materials as well as the production, distribution marketing and sales of natural β - carotene health food products. |  |
| Doron KangBaier Biotechnology Co. LTD | ● | A PRC limited liability company | 100% owned by LiaoNing KangBaiEr |
|  | ● | Principal activities: research and support |  |
| LiaoNing BaiJiaKang Health Technology Co. LTD | ● | A PRC limited liability company | 100% owned by LiaoNing KangBaiEr |
|  | ● | Principal activities: promotion and support |  |

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**VIE Agreements**

In November 2022, Baijiakang Consulting, LiaoNing KangBaiEr, and the shareholders of LiaoNing KangBaiEr entered into a series of contractual agreements for LiaoNing KangBaiEr to qualify as variable interest entity or VIE (the "VIE Agreements"). The VIE Agreements are as follows:

<u>Consulting Service Agreement</u>

Pursuant to the terms of the Exclusive Consulting and Service Agreement dated November 27, 2022, between Baijiakang Consulting and Kangbaier Liaoning (the "Consulting Service Agreement"), Baijiakang Consulting is the exclusive consulting and service provider to Kangbaier Liaoning to provide business-related software research and development services; design, installation, and testing services; network equipment support, upgrade, maintenance, monitor, and problem-solving services; employees training services; technology development and sublicensing services; public relations services; market investigation, research, and consultation services; short to medium term marketing plan-making services; compliance consultation services; marketing events and membership related activities planning and organizing services; intellectual property permits; equipment and rental services; and business-related management consulting services. Pursuant to the Consulting Service Agreement, the service fee is the remaining amount after Kangbaier Liaoning's profit before tax in the corresponding year deducts Kangbaier Liaoning's losses, if any, in the previous year, the necessary costs, expenses, taxes, and fees incurred in the corresponding year, and the withdraws of the statutory provident fund. Kangbaier Liaoning agreed not to transfer its rights and obligations under the Consulting Service Agreement to any third party without prior written consent from Baijiakang Consulting. In addition, Baijiakang Consulting may transfer its rights and obligations under the Consulting Service Agreement to Baijiakang Consulting's affiliates without Kangbaier Liaoning's consent, but Baijiakang Consulting shall notify Kangbaier Liaoning of such transfer. This Agreement is valid for a term of 10 years subject to any extension requested by Baijiakang Consulting unless terminated by Baijiakang Consulting unilaterally prior to the expiration.

The foregoing summary of the Consulting Service Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Consulting Service Agreement, which is filed as Exhibit 10.2 to this Form 8-K.

<u>Business Operation Agreement</u>

Pursuant to the terms of the Business Operation Agreement dated November 27, 2022, among Baijiakang Consulting, Kangbaier Liaoning and the shareholders of Kangbaier Liaoning (the "Business Operation Agreement"), Kangbaier Liaoning has agreed to subject the operations and management of its business to the control of Baijiakang Consulting. According to the Business Operation Agreement, Kangbaier Liaoning is not allowed to conduct any transactions that has substantial impact upon its operations, assets, rights, obligations, and personnel without the Baijiakang Consulting's written approval. The shareholders of Kangbaier Liaoning and Kangbaier Liaoning will take Baijiakang Consulting's advice on appointment or dismissal of directors, employment of Kangbaier Liaoning's employees, regular operation, and financial management of Kangbaier Liaoning. The shareholders of Kangbaier Liaoning have agreed to transfer any dividends, distributions, or any other profits that they receive as the shareholders of Kangbaier Liaoning to Baijiakang Consulting without consideration. The Business Operation Agreement is valid for a term of 10 years or longer upon the request of Baijiakang Consulting prior to the expiration thereof. The Business Operation Agreement might be terminated earlier by Baijiakang Consulting with a 30-day written notice.

The foregoing summary of the Business Operation Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Business Operation Agreement, which is filed as Exhibit 10.3 to this Form 8-K.

<u>Proxy Agreement</u>

Pursuant to the terms of the Proxy Agreements dated November 27, 2022, among Baijiakang Consulting, and the shareholders of Kangbaier Liaoning (each, the "Proxy Agreement", collectively, the "Proxy Agreements"), each shareholder of Kangbaier Liaoning has irrevocably entrusted his/her shareholder rights as Kangbaier Liaoning's shareholder to Baijiakang Consulting , including but not limited to, proposing the shareholder meeting, accepting any notices with regard to the convening of shareholder meeting and any other procedures, conducting voting rights, and selling or transferring the shares held by such shareholder, for 10 years or earlier if the Business Operation Agreement was terminated for any reasons.

The foregoing summary of the Proxy Agreements does not purport to be complete and is subject to, and qualified in its entirety by, the Proxy Agreements, which are filed as Exhibit 10.4 to this Form 8-K.

<u>Equity Disposal Agreement</u>

Pursuant to the terms of the Equity Disposal Agreement dated November 27, 2022, among Baijiakang Consulting, Kangbaier Liaoning, and the shareholders of Kangbaier Liaoning (the "Equity Disposal Agreement"), the shareholders of Kangbaier Liaoning granted Baijiakang Consulting or its designees an irrevocable and exclusive purchase option (the "Option") to purchase Kangbaier Liaoning's all or partial equity interests and/or assets at the lowest purchase price permitted by PRC laws and regulations. The option is exercisable at any time at Baijiakang Consulting's discretion in full or in part, to the extent permitted by PRC law. The shareholders of Kangbaier Liaoning agreed to give Kangbaier Liaoning the total amount of the exercise price as a gift, or in other methods upon Baijiakang Consulting's written consent to transfer the exercise price to Kangbaier Liaoning. The Equity Disposal Agreement is valid for a term of 10 years or longer upon the request of Baijiakang Consulting.

The foregoing summary of the Equity Disposal Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Equity Disposal Agreement, which is filed as Exhibit 10.5 to this Form 8-K.

<u>Equity Pledge Agreement</u>

Pursuant to the terms of the Equity Pledge Agreement dated November 27, 2022, among Baijiakang Consulting and the shareholders of Kangbaier Liaoning (the "Pledge Agreement"), the shareholders of Kangbaier Liaoning pledged all of their equity interests in Kangbaier Liaoning to Baijiakang Consulting, including the proceeds thereof, to guarantee Kangbaier Liaoning's performance of its obligations under the Business Operation Agreement, the Consulting Service Agreement and the Equity Disposal Agreement (each, a "Agreement", collectively, the "Agreements"). If Kangbaier Liaoning or its shareholders breach its respective contractual obligations under any Agreements, or cause to occur one of the events regards as an event of default under any Agreements, Baijiakang Consulting, as pledgee, will be entitled to certain rights, including the right to dispose of the pledged equity interest in Kangbaier Liaoning. During the term of the Pledge Agreement, the pledged equity interests cannot be transferred without Baijiakang Consulting's prior written consent. The Pledge Agreements is valid until all the obligations due under the Agreements have been fulfilled.

The foregoing summary of the Equity Pledge Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Equity Pledge Agreement, which is filed as Exhibit 10.6 to this Form 8-K.

**Foreign Operations**

All of our business operations are conducted in Mainland China. Accordingly, our results of operations, financial condition and prospects are subject to a significant degree to economic, political, and legal developments in the PRC. Operating in foreign countries involves substantial risk. For example, our business activities subject us to a number of Chinese laws and regulations, such as anti-corruption laws, tax laws, foreign exchange controls and cash repatriation restrictions, data privacy and security requirements, labor laws, intellectual property laws, privacy laws, and anti-competition regulations, which have uncertainties. Any failure to comply with the PRC laws and regulations could subject us to fines and penalties, make it more difficult or impossible to do business in China and harm our reputation.

Operating in foreign countries also subjects us to risk from currency fluctuations. Our primary exposure to movements in foreign currency exchange rates relates to non-U.S. dollar denominated sales and operating expenses. The weakening of foreign currencies relative to the U.S. dollar adversely affects the U.S. dollar value of our foreign currency-denominated sales and earnings. This could either reduce the U.S. dollar value of our prices or, if we raise prices in the local currency, it could reduce the overall demand for our offerings. Either could adversely affect our revenue. Conversely, a rise in the price of local currencies relative to the U.S. dollar could adversely impact our profitability because it would increase our costs denominated in those currencies, thus adversely affecting gross margins.

**Critical Accounting Policies, Judgments and Estimates**

***Basis of Presentation***

The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP").

***Principle of Consolidation***

The consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company transactions and balances are eliminated upon consolidation.

***Use of Estimates***

The preparation of these consolidated financial statements requires management of the Company to make estimates and judgments that affect the reported amounts of assets including application of discount on long-term other receivables with present value, liabilities, revenues, costs and expenses, and related disclosures. On an on-going basis, the Company evaluates its estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Identified below are the accounting policies that reflect the Company's most significant estimates and judgments, and those that the Company believes are the most critical to fully understanding and evaluating its consolidated financial statements.

In March 2020 the World Health Organization declared coronavirus COVID-19 a global pandemic. The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. The pandemic may impact Company's future estimates including, but not limited to, our allowance for doubtful accounts, inventory valuations, fair value measurements, asset impairment charges. It is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its effects on its business or results of operations at this time.

***Revenue Recognition***

Effective January 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers, which replaced ASC Topic 605, using the modified retrospective method of adoption.

The Company recognizes revenues when its customer obtains control of promised goods, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods. The Company recognizes revenues following the five step model prescribed under ASU No. 2014-09: (i) identify contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenues when (or as) the Company satisfies the performance obligation. The application of the five-step model to the revenue streams compared to the prior guidance did not result in significant changes in the way the Company records its revenue. Upon adoption, the Company evaluated its revenue recognition policy for all revenue streams within the scope of the ASU under previous standards and using the five-step model under the new guidance and confirmed that there were no differences in the pattern of revenue recognition. Hence, the Company's accounting for revenue remains substantially unchanged. There were no cumulative effect adjustments for service contracts in place prior to the adoption. The effect from the adoption of ASC Topic 606 was not material to the Company's consolidated financial statements.

The Company applies judgment in determining the customer's ability and intention to pay, which is based on a variety of factors including the customer's historical payment experience.

Judgment is used in determining: (1) whether the financing component in the sales agreement is significant and, if so, (2) the discount rate used in calculating the significant financing component. The Company assesses the significance of the financing component based on the timing of payments agreed to by the parties to the contract that provides the customer with a significant benefit of financing. If determined to be significant, the Company adjusts the promised amount of consideration for the effects of the time value of money.

Judgment is also used in assessing whether the long-term accounts receivable results in variable consideration and, if so, the amount to be included in the transaction price. The Company applies the portfolio approach to estimating the amount of variable consideration in these arrangements using the most likely amount method that is based on the Company's historical collection experience under similar arrangements.

Based on the above significant judgements, the financing component, arising from the long-term accounts receivable was recognized as financing revenue over the time of payment. There was no financing revenue for the years ended June 30, 2022 and 2021, respectively.

The Company is in traditional production business operation and its performance obligation is delivery of the products to customers within the agreed upon time and location. Customers sign on the delivery notes to indicate their acceptance. The typical payment term is either advance payment or agreed-upon credit terms after delivery of products. There is no warranty and return policy for the customers. The Company accounts for the sales of health care products using the gross method, as its controls the products that it sells until at which point it transfers control of the products to its customers and recognizes revenue.

There are two revenue streams within the Company's operations: (1) sales of health care products which constitutes the majority of the revenues, and (2) others.

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| | | |
|:---|:---|:---|
|  | **Years Ended June 30** | **Years Ended June 30** |
|  | **2022** | **2021** |
|  | **Sales** | **Sales** |
| Health care product sales | $817954 | $771755 |
| Others | 11417 | - |
| Total revenues | $829371 | $771755 |

---

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| | | |
|:---|:---|:---|
|  | **Three Months Ended<br> September 30** | **Three Months Ended<br> September 30** |
|  | **2022** | **2021** |
|  | **Sales** | **Sales** |
| Normal product sales | $68035 | $292936 |
| Others | - | - |
| Total revenues | $68035 | $292936 |

---

There is no variable consideration and non-cash consideration agreed with the customers. The transaction price is fixed and allocated to the agreed product, the only performance obligation. The revenue is recognized at a point in time once the Company has determined that the customers have obtained control over the products. Control is typically deemed to have been transferred to the customers when the performance obligation is fulfilled, usually at the time of delivery, at the net sales price (transaction price).

There is no contract asset that the Company has right to consideration in exchange for the product sales that the Company has transferred to customers. Such right is not conditional on something other than the passage of time.

<u>Practical expedients and exemption</u>

The Company elected a practical expedient that it does not adjust the promised amount of consideration for the effects of a significant financing component if the Company expects that, upon the inception of revenue contracts, the period between when the Company transfers its promised deliverables to its customers and when the customers pay for those deliverables will be more than one year.

***Advertising and promotional expenses***

Advertising costs are expensed as incurred and included in selling expenses. Advertising costs amounted to $161,853 and $14,057 for the years ended June 30, 2022 and 2021, respectively.

***Fair Value of Financial Instruments***

U.S. GAAP establishes a three-tier hierarchy to prioritize the inputs used in the valuation methodologies in measuring the fair value of financial instruments. This hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three-tier fair value hierarchy is:

Level 1 – observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 – include other inputs that are directly or indirectly observable in the marketplace.

Level 3 – unobservable inputs which are supported by little or no market activity.

The carrying value of the Company's financial instruments, including cash, accounts receivable, other current assets, accounts payable, and accruals and other payable approximate their fair value due to their short maturities.

In accordance with ASC 825, for investments in financial instruments with a variable interest rate indexed to performance of underlying assets, the Company elected the fair value method at the date of initial recognition and carried these investments at fair value. Changes in the fair value are reflected in the accompanying consolidated statements of operations and comprehensive loss as other income (expense). To estimate fair value, the Company refers to the quoted rate of return provided by banks at the end of each period using the discounted cash flow method. The Company classifies the valuation techniques that use these inputs as Level 2 of fair value measurements.

As of June 30, 2022 and 2021, the Company had no investments in financial instruments.

***Income tax***

The Company's subsidiary in China are subject to the income tax laws of the relevant tax jurisdiction. No taxable income was generated outside the PRC for the years ended June 30, 2022 and 2021. The Company accounts for income tax in accordance with U.S. GAAP.

Current income taxes are provided on the basis of net profit (loss) for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions.

Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements, net operating loss carry forwards and credits. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided in accordance with the laws of the relevant taxing authorities. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in which temporary differences are expected to be reversed or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the statement of comprehensive loss in the period of the enactment of the change.

The Company considers positive and negative evidence when determining whether a portion or all of its deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carry-forward periods, its experience with tax attributes expiring unused, and its tax planning strategies. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry-forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Company has considered possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry-forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry.

An uncertain tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized upon examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. PRC tax returns filed in 2022 and 2021 are subject to examination by any applicable tax authorities. The Company had no uncertain tax position for the years ended June 30, 2022 and 2021.

**Recent Accounting Pronouncements** 

See the discussion of the recent accounting pronouncements contained in Note 2 to the consolidated financial statements, "Summary of Significant Accounting Policies".

**Results of Operations**

***Comparison of Years Ended June 30, 2022 and 2021***

The following table sets forth key components of our results of operations during the years ended June 30, 2022 and 2021, both in dollars and as a percentage of our revenue.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Years Ended June 30,** | **Years Ended June 30,** | **Years Ended June 30,** | **Years Ended June 30,** |
|  | **2022** | **2022** | **2021** | **2021** |
|  | **Amount** | **of Revenue** | **Amount** | **of Revenue** |
| **Revenues** | 829371 | 100.00% | 771755 | 100.00% |
| **Cost of revenues** | (598880) | (72.21)% | (654846) | (84.85)% |
| **Gross profit** | 230491 | 27.79% | 116909 | 15.15% |
| **Operating expenses** |  |  |  |  |
| Selling expenses | (182896) | (22.05)% | (14221) | (1.84)% |
| General and administrative expenses | (581376) | (70.10)% | (1377363) | (178.48)% |
| **Loss from operations** | (533781) | (64.35)% | (1274675) | (165.17)% |
| **Other Income (expense)** |  |  |  |  |
| Other incomes | 13869 | 1.67% | 383 | 0.05% |
| Other expenses | (144870) | (17.46)% | (113) | (0.01)% |
| **Net loss before taxes** | (664782) | (80.15)% | (1274405) | (165.13)% |
| Income tax expenses |  |  |  |  |
| **Net loss** | (664782) | (80.15)% | (1274405) | (165.13)% |

---

***Revenues.*** Our revenues were $829,371 for the year ended June 30, 2022, representing an increase of $57,616 or 7% from $771,755 for the year ended June 30, 2021. There are two revenue streams within the Company's operations: (1) normal product sales of carotene which constitutes the majority of the revenues, and (2) others. The increase was mainly due to business promotion to get engaged by more customers in 2022.

The following table summarizes our revenues by revenue streams for the years ended June 30, 2022 and 2021:

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| | | |
|:---|:---|:---|
|  | **Years Ended June 30** | **Years Ended June 30** |
|  | **2022** | **2021** |
|  | **Sales** | **Sales** |
| Normal product sales | $817954 | $771755 |
| Others | 11417 | - |
| Total revenues | $829371 | $771755 |

---

***Cost of revenues.*** Our cost of revenues was $598,880 for the year ended June 30, 2022, compared to $654,846 for the same period last year. Cost of revenue refers to the cost of material and labor cost, direct material and overhead costs. With the similar scale of sales, the cost of revenues of 2022 almost the same with 2021.

***Gross profit and gross margin.*** Our gross profit was $230,491 for the year ended June 30, 2022, compared with a gross profit of $116,909 for the same period last year. The gross margin was increased from 15.15% during 2021 to 27.79% during 2022. The increase was in line with the business growth.

***Selling expenses.*** As shown below, our selling expenses consist primarily of compensation and benefits to our selling department and other expenses incurred in connection with general operations. Our selling expenses increased by $168,676 to $182,896 for year ended June 30, 2022, from $14,221 for the same period 2021. The increase due to the advertising fee increased by $147,796 from June 30, 2021 to June 30, 2022. The increases were mainly in line with the expansion of revenue.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **June 30,<br> 2022** | **June 30,<br> 2022** | **June 30,<br> 2021** | **June 30,<br> 2021** | **Fluctuation** | **Fluctuation** |
|  | **Amount** | **Proportion** | **Amount** | **Proportion** | **Amount** | **Proportion** |
| Salaries and welfare | 19303 | 10.55% |  |  | 19303 | 100% |
| Advertising fee | 161853 | 88.49% | 14057 | 98.85% | 147796 | 1051% |
| Others | 1740 | 0.95% | 164 | 1.15% | 1576 | 963% |
| Total selling expenses | $182896 | 100.00% | $14221 | 100.00% | $168676 | 1186% |

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***General and administrative expenses.*** As shown below, our general and administrative expenses consist primarily of compensation and benefits to our general management, finance and administrative staff, professional fees and other expenses incurred in connection with general operations. Our general and administrative expenses decreased by $795,987 to $581,376 for year ended June 30, 2022, from $1,377,363 for the same period in 2021. Professional fee decreased by $931,125 or 90.58% from June 30, 2021 to June 30, 2022. The decrease was mainly due to several third party has been hired during 2021 for company initial public offerings strategy. Salary and social insurance increased by $111,025 or 70.00% from June 30, 2020 to June 30, 2021. The increase was mainly in line with the expansion of revenue.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **June 30,<br> 2022** | **June 30,<br> 2022** | **June 30,<br> 2021** | **June 30,<br> 2021** | **Fluctuation** | **Fluctuation** |
|  | **Amount** | **Proportion** | **Amount** | **Proportion** | **Amount** | **Proportion** |
| Salary and Social Insurance | $269643 | 46.38% | $158618 | 11.52% | $111025 | 70.00% |
| Business entertainment | 14792 | 2.54% | 7917 | 0.57% | 6876 | 86.85% |
| Depreciation and amortization | 55405 | 9.53% | 5692 | 0.41% | 49713 | 873.32% |
| Office expenses | 29821 | 5.13% | 14161 | 1.03% | 15659 | 110.58% |
| Professional fee | 96889 | 16.67% | 1028014 | 74.64% | (931125) | (90.58)% |
| Bad debt provision | (21685) | (3.73)% | 87597 | 6.36% | (109282) | (124.76)% |
| Materials expenses | 86197 | 14.83 | 5959 | 0.43% | 80238 | 1346.48% |
| Research and development expenses |  |  | 30208 | 2.19% | (30208) | (100)% |
| Rental fee | 26 | 0.00 | 8959 | 0.65% | (8933) | (99.71)% |
| Travel fee | 12436 | 2.14 | 8890 | 0.65% | 3546 | 39.89% |
| Installation and maintenance fee | 6960 | 1.20% | 3334 | 0.24% | 3627 | 108.80% |
| Taxation | 2621 | 0.45% | 904 | 0.07% | 1717 | 189.84% |
| Other | 28270 | 4.86% | 17110 | 1.24% | 11160 | 65.22% |
| Total general and administrative expenses | $581376 | 100.00% | $1377363 | 100.00% | $(795987) | (57.79)% |

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***Income tax expense.*** Our Income tax expense was nil for the years ended June 30, 2022 and 2021.

***Net loss.*** As a result of the cumulative effect of the factors described above, our net loss was $664,782 for the year ended June 30, 2022 and net loss $1,274,405 for the year ended June 30, 2021. The decrease was primarily due to decrease of operating expenses in 2022 as previously discussed.

**Liquidity and Capital Resources**

The Company's primary need for liquidity stems from its need to fund working capital requirements of the Company's businesses, its capital expenditures and its general operations, including debt repayment. The Company has historically financed its operations through short-term and long-term commercial bank loans from Chinese banks, as well as its ongoing operating activities by using funds from loans from directors and shareholders, and other third party. The Company routinely monitors current and expected operational requirements and financial market conditions to evaluate the use of available financing sources. Considering the existing working capital position and the ability to access debt funding sources, the management believes that the Company's operations and borrowing resources are sufficient to provide for its current and foreseeable capital requirements to support its ongoing operations for the next twelve months.

The following table set forth a summary of its cash flows for the periods indicated:

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| | | |
|:---|:---|:---|
|  | **For the Years Ended** | **For the Years Ended** |
|  | **June 30,** | **June 30,** |
|  | **2022** | **2021** |
| Net cash provided by (used in) operating activities | $9482639 | (2481619) |
| Net cash used in investing activities | $(96166) | (63800) |
| Net cash provided by (used in) financing activities | (9238562) | 2573769 |

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***Operating Activities***

Net cash provided by operating activities was $9,482,639 for the year ended June 30, 2022, as compared to $2,481,619 net cash used in operating activities for the year ended June 30, 2021.

The net cash provided by operating activities for the year ended June 30, 2022 was mainly due to our net loss of $664,782, an increase in and an increase in other receivables of $1,586,168, partially offset by an increase in advance from customers of $6,920,217 and an increase in other payables of $4,487,644. The net cash used in operating activities for the year ended June 30, 2021 was mainly due to our net loss of $1,274,405, a decrease in other payables of $1,100,063, and partially offset by a decrease in other receivable of $130,484.

***Investing Activities***

Net cash used in investing activities was $96,166 for the year ended June 30, 2022, as compared to $63,800 net cash used in investing activities for the year ended June 30, 2021. The net cash used in investing activities was mainly attributable to purchase of property and equipment for the year ended June 30, 2022 and 2021.

***Financing Activities***

Net cash used in financing activities was $9,238,562 for the year ended June 30, 2022, as compared to $2,573,769 net cash provided by financing activities for the year ended June 30, 2021. The net cash used in financing activities was mainly attributable to repayment to related parties for the year ended June 30, 2022. The net cash provided by financing activities was mainly attributable to advances from related parties for the year ended June 30, 2021.

***Comparison of three months ended September 30, 2022 and 2021***

The following table sets forth key components of our results of operations during the three months ended September 30, 2022 and 2021, both in dollars and as a percentage of our revenue.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months ended September 30,** | **Three Months ended September 30,** | **Three Months ended September 30,** | **Three Months ended September 30,** |
|  | **2022** | **2022** | **2021** | **2021** |
|  | **Amount** | **of Revenue** | **Amount** | **of Revenue** |
| **Revenues** | 68035 | 100.00% | 292936 | 100.00% |
| **Cost of revenues** | (64133) | (94.27)% | (202645) | (69.18)% |
| **Gross profit** | 3902 | 5.73% | 90291 | 30.82% |
| **Operating expenses** |  |  |  |  |
| Selling expenses | (941) | (1.38)% | (12104) | (4.13)% |
| General and administrative expenses | (75129) | (110.43)% | (107627) | (36.74)% |
| **Loss from operations** | (72168) | (106.08)% | (29440) | (10.05)% |
| **Other Income (expense)** |  |  |  |  |
| Other incomes | 8148 | 11.98% | 1572 | 0.54% |
| Other expenses |  |  |  |  |
| **Net loss before taxes** | (64020) | (94.10)% | (27868) | (9.51)% |
| Income tax expenses |  |  |  |  |
| **Net loss** | (64020) | (94.10)% | (27868) | (9.51)% |

---

***Revenues.*** Our revenues were $68,035 for the three months ended September 30, 2022, representing an decrease of $224,901 or 77% from $292,936 for the three months ended September 30, 2021. There are two revenue streams within the Company's operations: (1) normal product sales of carotene which constitutes the majority of the revenues, and (2) others. The decrease was mainly due to the explosion of COVID-19 during the three months ended September 30, 2022.

The following table summarizes our revenues by revenue streams for the three months ended September 30, 2022 and 2021:

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| | | |
|:---|:---|:---|
|  | **Three Months ended<br> September 30,** | **Three Months ended<br> September 30,** |
|  | **2022** | **2021** |
|  | **Sales** | **Sales** |
| Normal product sales | $68035 | $292936 |
| Others | - | - |
| Total revenues | $68035 | $292936 |

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***Cost of revenues.*** Our cost of revenues was $64,133 for the three months ended September 30, 2022, compared to $202,645 for the same period last year. Cost of revenue refers to the cost of material and labor cost, direct material and overhead costs. The decrease was in line with the revenue.

***Gross profit and gross margin.*** Our gross profit was $3,902 for the three months ended September 30, 2022, compared with a gross profit of $90,291 for the same period last year. The gross margin was decreased from 30.82% during 2021 to 5.73% during 2022. The decrease was in line with the business decline.

***Selling expenses.*** As shown below, our selling expenses consist primarily of compensation and benefits to our selling department and other expenses incurred in connection with general operations. Our selling expenses decreased by $11,163 to $941 for the three months ended September 30, 2022, from $12,104 for the same period 2021. The decrease due to the advertising fee decreased by $12,104 for the three months ended September 30, 2022. The decreases were mainly in line with the decline of revenue.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **September 30,<br> 2022** | **September 30,<br> 2022** | **September 30,<br> 2021** | **September 30,<br> 2021** | **Fluctuation** | **Fluctuation** |
|  | **Amount** | **Proportion** | **Amount** | **Proportion** | **Amount** | **Proportion** |
| Advertising fee |  | -% | 12104 | 100.00% | (12104) | (100)% |
| Others | 941 | 100.00% | - | -% | 941 | 100% |
| Total selling expenses | $941 | 100.00% | $12104 | 100.00% | $(11163) | 92% |

---

***General and administrative expenses.*** As shown below, our general and administrative expenses consist primarily of compensation and benefits to our general management, finance and administrative staff, professional fees and other expenses incurred in connection with general operations. Our general and administrative expenses decreased by $32,498 to $75,129 for the three months ended September 30, 2022, from $107,627 for the same period in 2021. Professional fee decreased by $931,125 or 90.58% from June 30, 2021 to June 30, 2022. The decrease was mainly due to the decline of salary and social insurance $17,358, depreciation and amortization $12,359 and office expense $11,162 for the three months ended September 30, 2022. The decrease was mainly in line with the decline of revenue.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **September 30,<br> 2022** | **September 30,<br> 2022** | **September 30,<br> 2021** | **September 30,<br> 2021** | **Fluctuation** | **Fluctuation** |
|  | **Amount** | **Proportion** | **Amount** | **Proportion** | **Amount** | **Proportion** |
| Salary and Social Insurance | $43174 | 57.47% | $60532 | 56.24% | $(17358) | (28.68)% |
| Business entertainment | 2386 | 3.18% | 3307 | 3.07% | (921) | (27.84)% |
| Depreciation and amortization | 4832 | 6.43% | 17191 | 15.97% | (12359) | (71.89)% |
| Office expenses | 9551 | 12.71% | 20713 | 19.25% | (11162) | (53.89)% |
| Professional fee | 11622 | 15.47% | 1791 | 1.66% | 9831 | 548.96% |
| Travel fee | 1546 | 2.06% | 1771 | 1.65% | (225) | (12.70)% |
| Other | 2018 | 2.68% | 2322 | 2.16% | (304) | (13.11)% |
| Total general and administrative expenses | $75129 | 100.00% | $107627 | 100.00% | $(32498) | (30.19)% |

---

***Income tax expense.*** Our Income tax expense was nil for the three months ended September 30, 2022 and 2021.

***Net loss*.** As a result of the cumulative effect of the factors described above, our net loss was $64,020 for the three months ended September 30, 2022 and net loss $27,868 for the three months ended September 30, 2021. The decrease was primarily due to decrease of revenue in 2022 as previously discussed.

**Liquidity and Capital Resources**

The Company's primary need for liquidity stems from its need to fund working capital requirements of the Company's businesses, its capital expenditures and its general operations, including debt repayment. The Company has historically financed its operations through short-term and long-term commercial bank loans from Chinese banks, as well as its ongoing operating activities by using funds from loans from directors and shareholders, and other third party. The Company routinely monitors current and expected operational requirements and financial market conditions to evaluate the use of available financing sources. Considering the existing working capital position and the ability to access debt funding sources, the management believes that the Company's operations and borrowing resources are sufficient to provide for its current and foreseeable capital requirements to support its ongoing operations for the next twelve months.

The following table set forth a summary of its cash flows for the periods indicated:

---

| | | |
|:---|:---|:---|
|  | **For the Three Months Ended** | **For the Three Months Ended** |
|  | **September 30,** | **September 30,** |
|  | **2022** | **2021** |
| Net cash used in operating activities | $(9981867) | $(126547) |
| Net cash used in investing activities | $(47807) | $(36702) |
| Net cash provided by financing activities | 10003998 | 168406 |

---

***Operating Activities***

Net cash used in operating activities was $9,981,867 for the three months ended September 30, 2022, as compared to $126,547 net cash used in operating activities for the three months ended September 30, 2021.

The net cash provided by operating activities for the three months ended September 30, 2022 was mainly due to our net loss of $64,020, a decrease in advance from customers of $6,278,407 and a decrease in other payables of $3,759,841, partially offset by a decrease in other receivable of $49,825. The net cash used in operating activities for the three months ended September 30, 2021 was mainly due to our net loss of $27,868, an increase in other receivable of $530,082, and partially offset by an increase in accounts payable of $258,537 and a decrease in prepayment of $201,813.

***Investing Activities***

Net cash used in investing activities was $47,807 for the three months ended September 30, 2022, as compared to $36,702 net cash used in investing activities for the three months ended September 30, 2021. The net cash used in investing activities was mainly attributable to purchase of property and equipment for the three months ended September 30, 2022 and 2021.

***Financing Activities***

Net cash provided by financing activities was $10,003,998 for the three months ended September 30, 2022, as compared to $168,406 net cash provided by financing activities for the three months ended September 30, 2021. The net cash provided by financing activities was mainly attributable to advances from related parties for the three months ended September 30, 2022 and 2021.

**Contractual Obligations**

The Company had no short-term and long-term bank loans as of September 30, 2022 and June 30, 2022.

**Off-Balance Sheet Transactions**

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources that is material to investors.

**JOBS Act**

On April 5, 2012, the JOBS Act was signed into law. The JOBS Act contains provisions that, among other things, eases certain reporting requirements for qualifying public companies. We will qualify as an "emerging growth company" and under the JOBS Act will be allowed to comply with new or revised accounting pronouncements based on the effective date for private (not publicly traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as a result, we may not comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. As a result, our financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates.

**PROPERTIES**

Liaoning Kangbaier and its subsidiaries maintain the below corporate office space in Panjin City. We believe that our facilities are suitable and adequate for our operations and are adequately maintained.

---

| | | | |
|:---|:---|:---|:---|
| **Property rental details** | **Property rental details** | **Property rental details** | **Property rental details** |
|  | **Location (within the Group Hospital)** | **Area (m 2)** | **use** |
| 1 | Zhaojia # 1-17-1, Xinglongtai District, <br> Panjin City | 2200 | factory building |
| 2 | Zhaojia # 1-17-1, Xinglongtai District, <br> Panjin City | 800 | storehouse |
| 3 | Zhaojia # 1-17-1, Xinglongtai District, <br> Panjin City | 1200 | Office building (including WOFE) |
| 4 | Zhaojia # 1-17-1, Xinglongtai District, <br> Panjin City | 800 | dormitory building |
|  | amount to | 5000 |  |

---

**SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT**

**Security Ownership of Certain Beneficial Owners and Management**

The following table sets forth certain information concerning the number of shares of our common stock owned beneficially as of December 30, 2022, immediately following the Reverse Takeover by: (i) each person (including any group) known to us to own more than five percent (5)% of any class of our voting securities, (ii) each of our directors and each of our named executive officers (as defined under Item 402(m)(2) of Regulation S-K), and (iii) officers and directors as a group. Unless otherwise indicated, the shareholders listed possess sole voting and investment power with respect to the shares shown except to the extent voting power may be shared with a spouse. Unless otherwise indicated, the address for each director and executive officer listed is: c/o Bitmis Corp., 1-17-1 ZhaoJia Road, XingLongTai District , PanJin City, Liaoning Province, China.

---

| | | |
|:---|:---|:---|
| | **Common Stock<br> Beneficially Owned (1)** | **Common Stock<br> Beneficially Owned (1)** |
| <br>**Name and Address of Beneficial Owner** | **Number of Shares Beneficial Ownership** | **Percentage of Total Common Equity (1)** |
| Ms. Sun Xiuzhi (2) (3) | 8506400 | 49% |
| All executive officers and directors as a Group |  | 49% |
| **5% or Greater Stockholders:** |  |  |

---

(1) Beneficial
ownership is determined in accordance with SEC rules and generally includes voting or investment power with respect to securities. Applicable
percentage ownership is based on 7,250,750 shares of common stock and 10,000,000 preferred shares outstanding as of December 30, 2022.
There are no options, warrants or other rights to acquire shares of our common stock.

(2) Represents Ms. Xiuzhi's ownership of 850,640 shares of our common
stock and 7,655,760 shares of our Series A Preferred Shares which are convertible into 7,655,760 shares of our common stock.

(3) Represents shares held by each of the following entities of which Ms.
Xiuzhi is the sole director and owner of 100% of each entity: Kidde Holding Limited 1%; and Howell Holding Limited 39%. The address for
each such entity is c/o Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands.

**DIRECTORS AND EXECUTIVE OFFICERS**

In connection with the closing of the Reverse Acquisition described above in Item 2.01 Ms. Yuan Xiaoyan our sole officer and director resigned from her positions as Chief Executive Officer, President, Chief Financial Officer, and sole director, and appointed the following person as the Director and Executive Officer of the Company effective with her resignation.

The following table sets forth certain information concerning our newly appointed director and executive officer:

---

| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position** |
| Ms. Sun Xiuzhi | 66 | Chief Executive Officer, Chief Financial Officer and Director |

---

**Ms. Sun Xiuzhi, Chief Executive Officer, Chief Financial Officer, and Director**

Ms. Xiuzhi has served as the Company's Chief Executive Office, Chief Financial Officer and Director since the closing of the Reverse Acquisition on December 30, 2022. Since 2015 she has served as the Chairperson of Liaoning Kangbaier Biotechnology Development Co., Ltd, a company she founded which is focus on the research and development of technology related to natural β -carotene extraction as well as the commercialization of products derived from such technology. Ms. Xiuzhi attended Shenyang University of Technology where she received a degree in September 2015.

**Term of Office**

Our director holds her position until the next annual meeting of shareholders and until her successor is elected and qualified by our shareholders, or until earlier death, retirement, resignation, or removal.

**Director Independence**

Our sole director does not qualify as an "independent director" under the Rules of NASDAQ, Marketplace Rule 4200(a)(15).

**Director Compensation**

Our current sole director is an employee of the Company. She has not received and will not receive compensation for her service outside the compensation set forth in the Summary Compensation Table below.

If our board consists of any non-employee directors in the future, we may compensate our non-employee directors for their service in the future. We also intend to allow our non-employee directors to participate in any equity compensation plans that we adopt in the future.

**Family Relationships**

There are no family relationships between any of our directors, executive officers, or directors.

**Communications with the Board of Directors**

Stockholders with questions about the Company are encouraged to contact the Company by sending communications to the attention of the Chief Executive Officer at 1-17-1 Zhaojia Road, XingLongTai District, PanJin City, Liaoning Province, PRC. Stockholders may communicate with the Board of Directors by sending their communications to the Board of Directors, c/o the Chief Executive Officer at the same address.

**Involvement in Certain Legal Proceedings**

To our knowledge, during the past ten years no current director or executive officer of the Company has been involved in the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) A petition under the Federal
 bankruptcy laws or any state insolvency law which was filed by or against, or a receiver, fiscal agent or similar officer was appointed
 by a court for the business or property of such person, or any partnership in which he was a general partner at or within two years
 before the time of such filing, or any corporation or business association of which he was an executive officer at or within two
 years before the time of such filing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Such person was convicted
 in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses)
 ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Such person was the subject of any order, judgment, or decree,
not subsequently reversed, suspended, or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from,
or otherwise limiting, the following activities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Engaging in any type of business practice; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal or State securities laws or Federal commodities laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Such person was the subject of any order, judgment, or decree, not
subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than
60 days the right of such person to engage in any activity described in paragraph (f)(3)(i) of this section, or to be associated with
persons engaged in any such activity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Such person was found by a court of competent jurisdiction
in a civil action or by the Commission to have violated any Federal or State securities law, and the judgment in such civil action or
finding by the Commission has not been subsequently reversed, suspended, or vacated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Such person was found by a court of competent jurisdiction
in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such
civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Such person was the subject of, or a party to, any Federal
or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to
an alleged violation of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Any Federal or State securities or commodities law or regulation; Or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease and desist order, or removal or prohibition order; Or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; Or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) Such person was the subject of, or a party to, any sanction
or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the
Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))),
or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated
with a member.

***Director Responsibilities and Qualifications***

Directors are responsible for overseeing the Company's business consistent with their fiduciary duty to the stockholders. This significant responsibility requires highly-skilled individuals with various qualities, attributes and professional experience. Our director believes that there are general requirements for service on the Board that are applicable to directors and that there are other skills and experience that should be represented on the Board as a whole but not necessarily by each director. The Board considers the qualifications of director and director candidates individually and in the broader context of the Board's overall composition and the Company's current and future needs.

***Qualifications for All Directors***

In its assessment of each potential candidate, including those recommended by the stockholders, the Board will consider the nominee's judgment, integrity, experience, independence, understanding of the Company's business or other related industries and such other factors it determines are pertinent in light of the current needs of the Board. The Board also takes into account the ability of a director to devote the time and effort necessary to fulfill his or her responsibilities to the Company.

The Board requires that each director be a recognized person of high integrity with a proven record of success in his or her field. Each director must demonstrate innovative thinking, familiarity with and respect for corporate governance requirements and practices, an appreciation of multiple cultures and a commitment to sustainability and to dealing responsibly with social issues. The Board believes that it should include some directors with a high level of financial literacy and some directors who possess relevant business experience as a chief executive officer, president or similar position at a company. In addition to the qualifications required of all directors, the Board conducts interviews of potential director candidates to assess intangible qualities including the individual's ability to ask difficult questions and, simultaneously, to work collegially.

***Board Leadership Structure and Role in Risk Oversight***

The Board of Directors intends to exercise its oversight in the following manner:

---

| |
|:---|
| appointing, retaining, and overseeing the work of the independent auditors, including resolving disagreements between the management and the independent auditors relating to financial reporting; |
| approving all auditing and non-auditing services permitted to be performed by the independent auditors; |
| reviewing annually the independence and quality control procedures of the independent auditors; |
| reviewing and approving all proposed related party transactions; |
| discussing the annual audited financial statements with the management; and |
| meeting separately with the independent auditors to discuss critical accounting policies, management letters, recommendations on internal controls, the auditor's engagement letter and independence letter and other material written communications between the independent auditors and the management. |

---

***Board Committees***

<u>Audit Committee</u>. We intend to establish an audit committee of the Board which will consist of soon-to-be-nominated independent directors. The audit committee's duties will be to recommend to the Board the engagement of independent auditors to audit our financial statements and to review our accounting and auditing principles. The audit committee will review the scope, timing and fees for the annual audit and the results of audit examinations performed by the internal auditors and independent public accountants, including their recommendations to improve the system of accounting and internal controls. The audit committee will at all times be composed exclusively of directors who are, in the opinion of the Board, free from any relationship which would interfere with the exercise of independent judgment as a committee member and who possess an understanding of financial statements and generally accepted accounting principles.

<u>Audit Committee Financial Expert</u>. The Board currently acts as our audit committee. The Board is still in the process of finding an "audit committee financial expert" as defined in Regulation S-K and directors that are "independent" as that term is used in Section 10A of the Exchange Act.

<u>Compensation Committee</u>. We intend to establish a compensation committee of the Board. The compensation committee will review and approve our salary and benefits policies, including compensation of executive officers.

<u>Nominating Committee</u>. We do not presently have a nominating committee. Our board of directors currently acts as our nominating committee.

***Code of Ethics***

We are developing a Code of Business Conduct and Ethics that applies to our principal executive officers and principal financial officer, principal accounting officer or controller, or persons performing similar functions and also to other employees.

**EXECUTIVE COMPENSATION**

Our executive compensation program is designed to help us attract talented individuals to manage and operate all aspects of our business, to reward those individuals fairly over time and to retain those individuals who continue to meet our high expectations.

The following is a summary of the compensation we paid to our Chief Executive Officer, Chief Financial Officer and Vice President from September 22, 2022 through December 30, 2022 and from December 30, 2022 through December 31, 2022. This includes all compensation, including any compensation paid to the officer by any of our subsidiaries. Other than otherwise disclosed, no executive officer received compensation in excess of $100,000 from during 2022.

**Summary Compensation Table**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name & Principal Position** | **Fiscal Year** | **Base<br> Compensation<br> (annual, unless<br> otherwise<br> noted)** | **Performance<br> Award** | **Stock<br> Options** | **Total<br> Annual** |
| Ms. Yuan Xiaoyan, CEO, CFO, COO, Chairman and Director of the Board (1) | From September 22, 2022 through December 30, 2022 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| Ms. Sun Xiuzhi, CEO, CFO, COO, Chairman and Director of the Board (2) | December 30, 2022 through December 31, 2022 | $- | $- | $- | $- |

---

(1) Ms.
Yuan Xiaoyan was appointed as Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Chairman and Director of the
Board of Directors of the Company on September 22, 2022. Ms. Ms. Yuan Xiaoyan resigned from those positions on December 30, 2022 in conjunction
with the Reverse Acquisition.

(2) Ms.
Sun Xiuzhi was appointed as our Chief Executive Office, Chief Financial Officer, and Director on December 30, 2022.

**Employment Agreements**

As of the reporting date, the Company has not entered into any employment agreements.

**Compensation Discussion and Analysis**

We strive to provide our named executive officer (as defined in Item 402 of Regulation S-K) with a competitive base salary that is in line with their roles and responsibilities when compared to peer companies of comparable size in similar locations.

It is not uncommon for PRC private companies in to have base salaries as the sole form of compensation. The base salary level is established and reviewed based on the level of responsibilities, the experience and tenure of the individual and the current and potential contributions of the individual. The base salary is compared to the list of similar positions within comparable peer companies and consideration is given to the executive's relative experience in his or her position. Base salaries are reviewed periodically and at the time of promotion or other changes in responsibilities.

We will consider forming a compensation committee to oversee the compensation of our named executive officers. The majority of the members of the compensation committee would be independent directors.

**Compensation of Directors**

Directors are permitted to receive fixed fees and other compensation for their services as directors. The board of directors has the authority to fix the compensation of directors. No amounts have been paid to, or accrued to, directors in such capacity.

As of the date of this report, our director has received no compensation for her service on the board of directors. We plan to implement a compensation program for our independent directors, as and when they are appointed, which we anticipate will include such elements as an annual retainer, meeting attendance fees and stock options. The details of that compensation program will be negotiated with each independent director.

**Aggregated Option Exercises and Fiscal Year-End Option Value Table**

There were no stock options exercised during the 12 months ended September 30, 2022 and subsequently through December 31, 2022, by the executive officers named in the Executive Compensation Table. Further, there are no option, warrants or rights to receive any of the Company's securities outstanding.

**CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS**

Except for the ownership of our securities, and except as set forth below, none of the directors, executive officers, holders of more than five percent of our outstanding common stock, or any member of the immediate family of any such person have, to our knowledge, had a material interest, direct or indirect, in any transaction or proposed transaction which may materially affect our company.

The amount due from and due to related parties are as follow:

---

| | | |
|:---|:---|:---|
|  | **September 30,<br> 2022** | **June 30,<br> 2022** |
| **Amounts due from related parties:** |  |  |
| Duolun Kangbaier Biotechnology Co. LTD (a) | $1124 | $1194 |
| Panjin Kangying Health Food Co., LTD (a) | 141 | 149 |
| Liaoning Baijiakang Health Technology Co. LTD (a) | 42 | 45 |
| Ms. Xiuzhi Sun (b) |  | 4757546 |
| Ms. Xiuhua Sun (c) | 544336 | 1087722 |
| Mr. Yuewen Sun (d) |  | 970281 |
| Mr. Zengwen Wang (e) |  | 746370 |
| Mr. Mingkai Cao (f) | 4216 | 4479 |
| Total | $549859 | $7567786 |
| **Amounts due to related parties:** |  |  |
| Jilin Kangbaier Biotechnology Co., LTD (a) | $— | $298548 |
| Panjin Double Eagle Green Health Food Co. LTD (g) | 107492 | 114180 |
| Panjin Double Eagle Weishi Green Health Food Co. LTD (g) | 101576 | 107897 |
| Mr. Zengwen Wang (e) |  | 620846 |
| Ms. Xiuhua Sun (c) | 47318 | 67173 |
| Ms. Xiuzhi Sun (b) | 3926429 | - |
| Total | $4182815 | $1208644 |

---

(a) The companies of the representative of the Company.

(b) The representative of the Company.

(c) Sister of Ms. Xiuzhi Sun.

(d) Brother of Ms. Xiuzhi Sun.

(e) Nephew of Ms. Xiuzhi Sun.

(f) Family member of Ms. Xiuzhi Sun.

(g) Shareholder of the Company.

(h) Companies under the control of the Company's shareholders.

All the above balances are due on demand, interest-free and unsecured. The Company used the funds for its operations. $7,017,927 amounts due from related parties was settled subsequently from July to September 30, 2022.

***Procedures for Approval of Related Party Transactions***

Our board of directors is charged with reviewing and approving all potential related party transactions. All such related party transactions must then be reported under applicable SEC rules. We have not adopted other procedures for review, or standards for approval, of such transactions, but instead review them on a case-by-case basis.

**LEGAL PROCEEDINGS**

We know of no material, active, pending or threatened proceeding against us or our subsidiaries, nor are we, or any subsidiary, involved as a plaintiff or defendant in any material proceeding or pending litigation.

**MARKET PRICE OF AND DIVIDENDS ON THE REGISTRANTS**

**COMMON EQUITY AND RELATED STOCKHOLDER MATTERS**

***Market Information***

Our Common Stock is not listed on any securities exchange and is quoted on the OTC Expert Market under the symbol "BITM." No quotations are currently available since BITM is listed in the Expert Market. Our common stock has not been traded on the OTC market except on a limited and sporadic basis and there is no assurance that a regular public trading market will ever develop. OTC market securities are not listed and traded on the floor of an organized national or regional stock exchange. Instead, OTC market securities transactions are conducted through a telephone and computer network connecting dealers. OTC market issuers are traditionally smaller companies that do not meet the financial and other listing requirements of a regional or national stock exchange.

***Holders of Our Common Stock***

As of December 30, 2022, there were 10 holders of record of our common stock based upon the records of the shareholders provided by the Company's transfer agent. The Company's transfer agent is VStock Transfer, LLC, 18 Lafayette Place Woodmere, NY 11598, Telephone 212-828-8436.

***Dividends***

We have not paid dividends on our common stock and do not anticipate paying such dividends in the foreseeable future. We will rely on dividends from our PRC operation entity for our funds and PRC regulations may limit the amount of funds distributed to us from our PRC operation entity, which will affect our ability to declare any dividends.

***Stock Option and Warrant Grants***

We have no stock option and warrant granted to our executives, employees, vendors, consultants, and any other parties as of the reporting date.

***Registration Rights***

We have not granted registration rights to any person.

***Equity Compensation Plans***

We have not adopted any equity compensation plans as of the reporting date.

***Penny Stock Regulations***

Our shares of common stock are subject to the "penny stock" rules of the Securities Exchange Act of 1934 and various rules under this Act. In general terms, "penny stock" is defined as any equity security that has a market price less than $5.00 per share, subject to certain exceptions. The rules provide that any equity security is considered to be a penny stock unless that security is registered and traded on a national securities exchange meeting specified criteria set by the SEC, issued by a registered investment company, and excluded from the definition on the basis of price (at least $5.00 per share), or based on the issuer's net tangible assets or revenues. In the last case, the issuer's net tangible assets must exceed $3,000,000 if in continuous operation for at least three years or $5,000,000 if in operation for less than three years, or the issuer's average revenues for each of the past three years must exceed $6,000,000.

Trading in shares of penny stock is subject to additional sales practice requirements for broker-dealers who sell penny stocks to persons other than established customers and accredited investors. Accredited investors, in general, include individuals with assets in excess of $1,000,000 or annual income exceeding $200,000 (or $300,000 together with their spouse), and certain institutional investors. For transactions covered by these rules, broker-dealers must make a special suitability determination for the purchase of the security and must have received the purchaser's written consent to the transaction prior to the purchase. Additionally, for any transaction involving a penny stock, the rules require the delivery, prior to the first transaction of a risk disclosure document relating to the penny stock. A broker-dealer also must disclose the commissions payable to both the broker-dealer and the registered representative, and current quotations for the security. Finally, monthly statements must be sent disclosing recent price information for the penny stocks. These rules may restrict the ability of broker-dealers to trade or maintain a market in our common stock, to the extent it is penny stock, and may affect the ability of shareholders to sell their shares.

**DESCRIPTION OF SECURITIES**

The following is a summary description of our capital stock and certain provisions under the laws of the State of Nevada where the Company was incorporated. The following discussion is qualified in its entirety by reference to such exhibits.

***General***

We are authorized to issue 75,000,000 shares of common stock, par value $0.001 per share, of which 7,250,750 shares of common stock are issued and outstanding following the completion of the Reverse Takeover.

***Common Stock***

The holders of our common stock are entitled to one vote for each share held of record on all matters to be voted on by stockholders. There is no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of the shares voting for the election of directors can elect all of the directors then up for election. The holders of our common stock are entitled to receive dividends when, as and if declared by the board of directors out of funds legally available therefor. In the event of liquidation, dissolution or winding up of our company, the holders of common stock are entitled to share ratably in all assets remaining which are available for distribution to them after payment of liabilities and after provision has been made for each class of stock, if any, having preference over the common stock. Holders of shares of our common stock, as such, have no conversion, preemptive or other subscription rights, and there are no redemption provisions applicable to the common stock.

***Series A Preferred Stock***

We are authorized to issue 200,000,000 shares of preferred stock, $0.001 per value per share. Similarly, the Board will be authorized to fix or alter the designations, powers, preferences, and the number of shares which constitute each such class or series of preferred stock. Such designations, powers or preferences may include, without limitation, dividend rights (and whether dividends are cumulative), conversion rights, if any, voting rights (including the number of votes, if any, per share), redemption rights (including sinking fund provisions, if any), and liquidation preferences of any unissued shares or wholly unissued series of preferred stock.

As of the date of this report, there are 10,000,000 shares of Series A preferred stock issued and outstanding, with $0.001 per value per share. The Series A Preferred Shares being issued are, by its principal terms:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each
convertible into 1 shares of Common Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) have
the same voting rights as holders of Common Stock on an *as-converted* basis for any matters that are subject to shareholder
vote;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) not
be entitled to any dividends; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) be
treated *pari passu* with the Common Stock on liquidation, dissolution or winding up of the Company.

**Indemnification of Directors and Officers**

Under provisions of the certificate of incorporation and bylaws of the registrant, directors and officers will be indemnified for any and all judgments, fines, amounts paid in settlement and reasonable expenses, including attorney's fees, in connection with threatened, p ending or completed actions, suits or proceedings, whether civil, or criminal, administrative or investigative (other than an action arising by or in the right of the registrant), if such director or officer has been wholly successful on the merits or otherwise, or is found to have acted in good faith and in a manner he or she reasonably believes to be in or not opposed to the best interests of the registrant, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. In addition, directors and officers will be indemnified for reasonable expenses in connection with threatened, pending or completed actions or suits by or in the right of registrant if such director or officer has been wholly successful on the merits or otherwise, or is found to have acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the registrant, except in the case of certain findings by a court that such person is liable for negligence or misconduct in his or her duty to the registrant unless such court also finds that such person is nevertheless fairly and reasonably entitled to indemnity. The registrant's Articles of Incorporation also eliminates the liability of directors of the registrant for monetary damages to the fullest extent permissible under Nevada law.

***Indemnification against Public Policy***

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling an issuer pursuant to the foregoing provisions, the opinion of the SEC is that such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. In the event that a claim for indemnification against such liabilities (other than by a director, officer or controlling person in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by us is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

The effect of indemnification may be to limit the rights of the Company and the stockholders (through stockholders' derivative suits on behalf of the Company) to recover monetary damages and expenses against a director for breach of fiduciary duty.

**Item 3.02 Unregistered Sales of Equity Securities.**

Reference is made to the disclosure made under Item 1.01 which is incorporated herein by reference.

**Item 5.01 Change in Control of Registrant.**

Reference is made to the disclosure made under Item 1.01 and Item 2.01 which is incorporated herein by reference.

**Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.**

Reference is made to the disclosure made under Item 1.01 and Item 2.01 which is incorporated herein by reference. For certain biographical and other information regarding the newly appointed officers and directors, see the disclosure under the heading "DIRECTORS AND EXECUTIVE OFFICERS.

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Financial
statements of business acquired

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Pro
forma financial information

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Exhibits

In reviewing the agreements included or incorporated by reference as exhibits to this Current Report on Form 8-K, please remember that they are included to provide you with information regarding their terms and are not intended to provide any other factual or disclosure information about the Company or the other parties to the agreements. The agreements may contain representations and warranties by each of the parties to the applicable agreement. These representations and warranties have been made solely for the benefit of the parties to the applicable agreement and:

● should not in all instances be treated as categorical statements of fact, but rather as a way of allocating the risk to one of the parties if those statements prove to be inaccurate;

● have been qualified by disclosures that were made to the other party in connection with the negotiation of the applicable agreement, which disclosures are not necessarily reflected in the agreement;

● may apply standards of materiality in a way that is different from what may be viewed as material to you or other investors; and

● were made only as of the date of the applicable agreement or such other date or dates as may be specified in the agreement and are subject to more recent developments.

Accordingly, these representations and warranties may not describe the actual state of affairs as of the date they were made or at any other time. Additional information about the Company may be found elsewhere in this Current Report on Form 8-K and the Company's other public filings, which are available without charge through the SEC's website at http://www.sec.gov.

(d) The following exhibits are filed with this report:

---

| | |
|:---|:---|
| **Exhibit<br> Number** | **Description** |
| 10.1\* | [Share Exchange Agreement](ea171363ex10-1_bitmiscorp.htm) |
| 10.2\* | [Consulting Service Agreement](ea171363ex10-2_bitmiscorp.htm) |
| 10.3\* | [Business Operation Agreement](ea171363ex10-3_bitmiscorp.htm) |
| 10.4\* | [Proxy Agreement](ea171363ex10-4_bitmiscorp.htm) |
| 10.5\* | [Equity Disposal Agreement](ea171363ex10-5_bitmiscorp.htm) |
| 10.6\* | [Equity Pledge Agreement](ea171363ex10-6_bitmiscorp.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

\* Submitted herewith

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: January 11, 2023 |  |  |
|  |  | */s/ Xiuzhi Sun* |
|  | Name: | Xiuzhi Sun |
|  | Title: | Chief Executive Officer |

---

**CAMBELL INTERNATIONAL HOLDING LIMITED**

**INDEX TO CONSOLIDATED FINANCIAL STATEMENTS**

**Table of Contents**

---

| | |
|:---|:---|
|  | **Page** |
| Consolidated Financial Statements as at June 30, 2022 and June 30, 2021 |  |
| [Report of Independent Registered Public Accounting Firm](#f_001) | F-2 |
| [Consolidated Balance Sheets as of June 30, 2022 and 2021](#f_002) | F-3 |
| [Consolidated Statements of Loss and Comprehensive Loss for the Years Ended June 30, 2022 and 2021](#f_003) | F-4 |
| [Consolidated Statements of Changes in Shareholders' Deficit for the Years Ended June 30, 2022 and 2021](#f_004) | F-5 |
| [Consolidated Statements of Cash Flows for the Years Ended June 30, 2022 and 2021](#f_005) | F-6 |
| [Notes to the Consolidated Financial Statements](#f_006) | F-7 – F-20 |
| [Unaudited Interim Condensed Consolidated Balance Sheets as of September 30, 2022 and June 30, 2022 and September 30, 2022](#f_007) | F-21 |
| [Unaudited Interim Condensed Consolidated Statements of Loss and Comprehensive Income for the Three Months Ended September 30, 2022 and 2021](#f_008) | F-22 |
| [Unaudited Interim Condensed Consolidated Statements of Changes in Shareholder's Deficit for the Three Months Ended September 30, 2022 and 2021](#f_009) | F-23 |
| [Unaudited Interim Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2022 and 2021](#f_010) | F-24 |
| [Notes to Consolidated Financial Statements](#f_011) | F-25 to F-37 |

---

**CAMBELL INTERNATIONAL HOLDING LIMITED**

**PRO FORMA FINANCIAL STATEMENTS**

---

| | |
|:---|:---|
| [Unaudited Pro Forma Condensed Combined Financial Data](#fp_001) | F-38 |
| [Unaudited Pro Forma Condensed Combined Balance Sheet as of September 30, 2022](#fp_002) | F-39 |
| [Unaudited Pro Forma Condensed Combined Statement of Operations and Comprehensive (Loss) Income for the Three Months Ended September 30, 2022](#fp_003) | F-40 |
| [Notes to Unaudited Pro Forma Condensed Combined Financial Statements](#fp_004) | F-41 |

---

![](image_007.jpg)

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To: The Board of Directors and Shareholders of Cambell International Holding Limited

**Opinion on the Financial Statements**

We have audited the accompanying consolidated balance sheets of Cambell International Holding Limited and its subsidiaries (collectively, the "Company") as of June 30, 2022 and 2021, and the related consolidated statements of loss and comprehensive loss, changes in shareholders' deficit, and cash flows for each of the years in the two-year period ended June 30, 2022, and the related notes (collectively referred to as the "consolidated financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2022 and 2021, and the results of its operations and its cash flows for each of the years in the two-year period ended June 30, 2022, in conformity with accounting principles generally accepted in the United States of America.

**Consideration of the Company's Ability to Continue as a Going Concern**

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements, the Company had incurred significant working capital deficiency and accumulated deficit at June 30, 2022, net loss from continuing operations for the year ended June 30, 2022. These factors raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regards to these matters are also described in Note 2. These consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties. If the Company is unable to successfully obtain the necessary additional financial support as specified in Note 2, there could be a material adverse effect on the Company.

**Basis for Opinion**

These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on our consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of our internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

**Critical Audit Matters**

Critical audit matters are matters arising from the current period audit of the consolidated financial statements that were communicated or required to be communicated to the audit committee and that (1) relate to accounts or disclosures that are material to the consolidated financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there were no critical audit matters.

---

| |
|:---|
| /s/ WWC, P.C. |
| WWC, P.C. |
| Certified Public Accountants |
| PCAOB ID: 1171 |

---

We have served as auditor since 2022.

San Mateo, California

January 11, 2023

**CAMBELL INTERNATIONAL HOLDING LIMITED**

**CONSOLIDATED BALANCE SHEETS**

**AS OF JUNE 30, 2022 AND 2021**

**(Expressed in U.S. dollar, except for the number of shares)**

---

| | | |
|:---|:---|:---|
|  | **2022** | **2021** |
| **ASSETS** |  |  |
| **CURRENT ASSETS** |  |  |
| Cash | $204004 | $63793 |
| Accounts receivable, net of $62,804 and $86,868 allowance for doubtful accounts as of June 30, 2022 and 2021, respectively |  | 52517 |
| Prepayments | 105216 | 14278 |
| Other receivables | 1310866 | 479946 |
| Amounts due from related parties | 7567786 | 1549 |
| Inventory | 305046 | 493096 |
| Total current assets | 9492918 | 1105179 |
| **NON-CURRENT ASSETS** |  |  |
| Long-term other receivable | 615987 |  |
| Property, plant and equipment, net | 87590 | 68183 |
| Total non-current assets | 703577 | 68183 |
| **TOTAL ASSETS** | $10196495 | $1173362 |
| **LIABILITIES AND SHAREHOLDERS' DEFICIT** |  |  |
| **CURRENT LIABILITIES** |  |  |
| Accounts payable | $82365 | $25097 |
| Advance from customers | 6668713 |  |
| Amounts due to related parties | 1208644 | 2641442 |
| Payroll payable | 22447 | 25183 |
| Tax payable | 11400 | 18670 |
| Other payables | 4376943 | 54378 |
| Total current liabilities | 12370512 | 2764770 |
| **TOTAL LIABILITIES** | 12370512 | 2764770 |
| **COMMITMENTS AND CONTINGENCIES** |  |  |
| **SHAREHOLDERS' DEFICIT** |  |  |
| Ordinary share, par value $0.1 per share; 10,000,000 shares issued and outstanding as of June 30, 2022 and 2021 | 1000000 | 1000000 |
| Subscription receivable | (1000000) | (1000000) |
| Accumulated deficit | (2200149) | (1535367) |
| Accumulated other comprehensive gain (loss) | 26132 | (56041) |
| Total Shareholders' Deficit | (2174017) | (1591408) |
| **TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT** | $10196495 | $1173362 |

---

The accompanying notes are an integral part of these consolidated financial statements.

**CAMBELL INTERNATIONAL HOLDING LIMITED**

**CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS**

**FOR THE YEARS ENDED JUNE 30, 2022 AND 2021**

**(Expressed in U.S. dollar, except for the number of shares)**

---

| | | |
|:---|:---|:---|
|  | **2022** | **2021** |
| **REVENUES** | 829371 | 771755 |
| **COST OF REVENUES** | 598880 | 654846 |
| **GROSS PROFIT** | 230491 | 116909 |
| **OPERATING EXPENSES** |  |  |
| Selling expenses | 182896 | 14221 |
| General and administrative expenses | 581376 | 1377363 |
| **Total operating expenses** | 764272 | 1391584 |
| **LOSS FROM OPERATIONS** | (533781) | (1274675) |
| **OTHER INCOME (EXPENSE), NET** |  |  |
| Other incomes | 13869 | 383 |
| Other expenses | (144870) | (113) |
| **Total other expenses, net** | (131001) | 270 |
| **NET LOSS BEFORE INCOME TAX** | (664782) | (1274405) |
| Income tax expense | - | - |
| **NET LOSS** | (664782) | (1274405) |
| **Other comprehensive income:** |  |  |
| Foreign currency translation gain (loss) | 82173 | (57294) |
| **Total comprehensive loss** | $(582609) | $(1331699) |
| Weighted average number of ordinary shares outstanding - basic and diluted | 10000000 | 10000000 |
| Net loss per share-basic and diluted | $(0.07) | $(0.13) |

---

The accompanying notes are an integral part of these consolidated financial statements.

**CAMBELL INTERNATIONAL HOLDING LIMITED**

**CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT**

**FOR THE YEARS ENDED JUNE 30, 2022 AND 2021**

**(EXPRESSED IN U.S. DOLLAR, EXCEPT FOR THE NUMBER OF SHARES)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Ordinary shares** | **Ordinary shares** | | | | |
|  | **Number of**<br>**shares** |<br>**Amount** |<br>**Subscription**<br>**receivable** |<br>**Accumulated**<br>**deficit** | **Accumulated**<br>**other**<br>**comprehensive**<br>**income (loss)** |<br><br>**Total** |
| **Balance, June 30, 2020** | **10000000** | $**1000000** | $**(1000000)** | $**(260962)** | $**1251** | $**(259711)** |
| Net loss |  |  |  | (1274405) |  | (1274405) |
| Foreign currency translation adjustment | - | - | - | - | (57292) | (57292) |
| **Balance, June 30, 2021** | **10000000** | **1000000** | **(1000000)** | **(1535367)** | **(56041)** | **(1591408)** |
| Net loss |  |  |  | (664782) |  | (664782) |
| Foreign currency translation adjustment | - | - | - | - | 82173 | 82173 |
| **Balance, June 30, 2022** | **10000000** | $**1000000** | $**(1000000)** | $**(2200149)** | $**26132** | $**(2174017)** |

---

The accompanying notes are an integral part of these consolidated financial statements.

**CAMBELL INTERNATIONAL HOLDING LIMITED**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**FOR THE YEARS ENDED JUNE 30, 2022 AND 2021**

**(Expressed in U.S. dollars)**

---

| | | |
|:---|:---|:---|
|  | **June 30,**<br>**2022** | **June 30,**<br>**2021** |
| **CASH FLOWS FROM OPERATING ACTIVITIES:** |  |  |
| **Net loss** | $**(664782)** | $**(1274405)** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net loss to net cash used in operating activities:** |  |  |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income to net cash used in operating activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Provision (reversal) of allowance for doubtful accounts | (21685) | 84692 |
| &nbsp;&nbsp;&nbsp;Impairment on equipment |  | 2905 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 73448 | 13813 |
| **Changes in operating assets and liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 74196 | (26512) |
| &nbsp;&nbsp;&nbsp;Other receivables | (1519632) | 130484 |
| &nbsp;&nbsp;&nbsp;Prepayments | (94908) | 106776 |
| &nbsp;&nbsp;&nbsp;Inventory | 176488 | 70345 |
| &nbsp;&nbsp;&nbsp;Accounts payable | 60377 | (188268) |
| &nbsp;&nbsp;&nbsp;Advance from customers | 6920217 | (336595) |
| &nbsp;&nbsp;&nbsp;Payroll payable | (1886) | 9398 |
| &nbsp;&nbsp;&nbsp;Tax payable | (6838) | 25811 |
| &nbsp;&nbsp;&nbsp;Other payables | 4487644 | (1100063) |
| **Net cash provided by (used in) operating activities** | **9482639** | **(2481619)** |
| **CASH FLOWS FROM INVESTING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;Purchase of property, plant and equipment | (96166) | (63800) |
| **Cash used in investing activities** | **(96166)** | **(63800)** |
| **CASH FLOWS FROM FINANCIING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from advances from related parties |  | 2573769 |
| &nbsp;&nbsp;&nbsp;Repayment to related parties | (9238562) | - |
| **Cash provided by (used in) financing activities** | **(9238562)** | **2573769** |
| **EFFECT OF EXCHANGE RATE ON CASH** | (7700) | 3727 |
| **NET CHANGE IN CASH AND CASH EQUIVALENTS** | 140211 | 32077 |
| **CASH AT BEGINNING OF PERIOD** | 63793 | 31716 |
| **CASH AT END OF PERIOD** | $**204004** | $**63793** |
| **SUPPLEMENTAL CASH FLOW INFORMATION** |  |  |
| &nbsp;&nbsp;&nbsp;Cash paid during the period for: |  |  |
| &nbsp;&nbsp;&nbsp;Income taxes | $- | $- |
| &nbsp;&nbsp;&nbsp;Interest | $- | $- |

---

The accompanying notes are an integral part of these consolidated financial statements.

**CAMBELL INTERNATIONAL HOLDING LIMITED**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Expressed in U.S. dollars)**

**1. ORGANIZATION AND BUSINESS**

Cambell International Holding Limited (the "Company"), via the PRC affiliated entity LiaoNing KangBaiEr , engages in the research and development of extraction processes of natural β -carotene, the planting and harvesting of raw materials as well as the production, distribution marketing and sales of natural β -carotene health food products.

In November 2022, Baijiakang Consulting, LiaoNing KangBaiEr, and the shareholders of LiaoNing KangBaiEr entered into a series of contractual agreements for LiaoNing KangBaiEr to qualify as variable interest entity or VIE (the "VIE Agreements"). The VIE Agreements are as follows:

<u>Consulting Service Agreement</u>

Pursuant to the terms of the Exclusive Consulting and Service Agreement dated November 27 2022, between Baijiakang Consulting and Kangbaier Liaoning (the "**Consulting Service Agreement**"), Baijiakang Consulting is the exclusive consulting and service provider to Kangbaier Liaoning to provide business-related software research and development services; design, installation, and testing services; network equipment support, upgrade, maintenance, monitor, and problem-solving services; employees training services; technology development and sublicensing services; public relations services; market investigation, research, and consultation services; short to medium term marketing plan-making services; compliance consultation services; marketing events and membership related activities planning and organizing services; intellectual property permits; equipment and rental services; and business-related management consulting services. Pursuant to the Consulting Service Agreement, the service fee is the remaining amount after Kangbaier Liaoning's profit before tax in the corresponding year deducts Kangbaier Liaoning's losses, if any, in the previous year, the necessary costs, expenses, taxes, and fees incurred in the corresponding year, and the withdraws of the statutory provident fund. Kangbaier Liaoning agreed not to transfer its rights and obligations under the Consulting Service Agreement to any third party without prior written consent from Baijiakang Consulting. In addition, Baijiakang Consulting may transfer its rights and obligations under the Consulting Service Agreement to Baijiakang Consulting's affiliates without Kangbaier Liaoning's consent, but Baijiakang Consulting shall notify Kangbaier Liaoning of such transfer. This Agreement is valid for a term of 10 years subject to any extension requested by Baijiakang Consulting unless terminated by Baijiakang Consulting unilaterally prior to the expiration.

The foregoing summary of the Consulting Service Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Consulting Service Agreement, which is filed as Exhibit 10.2 to this Form 8-K.

<u>Business Operation Agreement</u>

Pursuant to the terms of the Business Operation Agreement dated November 27, 2022, among Baijiakang Consulting, Kangbaier Liaoning and the shareholders of Kangbaier Liaoning (the "**Business Operation Agreement**"), Kangbaier Liaoning has agreed to subject the operations and management of its business to the control of Baijiakang Consulting. According to the Business Operation Agreement, Kangbaier Liaoning is not allowed to conduct any transactions that has substantial impact upon its operations, assets, rights, obligations and personnel without the Baijiakang Consulting's written approval. The shareholders of Kangbaier Liaoning and Kangbaier Liaoning will take Baijiakang Consulting's advice on appointment or dismissal of directors, employment of Kangbaier Liaoning's employees, regular operation, and financial management of Kangbaier Liaoning. The shareholders of Kangbaier Liaoning have agreed to transfer any dividends, distributions or any other profits that they receive as the shareholders of Kangbaier Liaoning to Baijiakang Consulting without consideration. The Business Operation Agreement is valid for a term of 10 years or longer upon the request of Baijiakang Consulting prior to the expiration thereof. The Business Operation Agreement might be terminated earlier by Baijiakang Consulting with a 30-day written notice.

The foregoing summary of the Business Operation Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Business Operation Agreement, which is filed as Exhibit 10.3 to this Form 8-K.

<u>Proxy Agreement</u>

Pursuant to the terms of the Proxy Agreements dated November 27, 2022, among Baijiakang Consulting, and the shareholders of Kangbaier Liaoning (each, the "**Proxy Agreement**", collectively, the "Proxy Agreements"), each shareholder of Kangbaier Liaoning has irrevocably entrusted his/her shareholder rights as Kangbaier Liaoning's shareholder to Baijiakang Consulting , including but not limited to, proposing the shareholder meeting, accepting any notices with regard to the convening of shareholder meeting and any other procedures, conducting voting rights, and selling or transferring the shares held by such shareholder, for 10 years or earlier if the Business Operation Agreement was terminated for any reasons.

The foregoing summary of the Proxy Agreements does not purport to be complete and is subject to, and qualified in its entirety by, the Proxy Agreements, which are filed as Exhibit 10.4 to this Form 8-K.

<u>Equity Disposal Agreement</u>

Pursuant to the terms of the Equity Disposal Agreement dated November 27, 2022, among Baijiakang Consulting, Kangbaier Liaoning, and the shareholders of Kangbaier Liaoning (the "**Equity Disposal Agreement**"), the shareholders of Kangbaier Liaoning granted Baijiakang Consulting or its designees an irrevocable and exclusive purchase option (the "**Option"**) to purchase Kangbaier Liaoning's all or partial equity interests and/or assets at the lowest purchase price permitted by PRC laws and regulations. The option is exercisable at any time at Baijiakang Consulting's discretion in full or in part, to the extent permitted by PRC law. The shareholders of Kangbaier Liaoning agreed to give Kangbaier Liaoning the total amount of the exercise price as a gift, or in other methods upon Baijiakang Consulting's written consent to transfer the exercise price to Kangbaier Liaoning. The Equity Disposal Agreement is valid for a term of 10 years or longer upon the request of Baijiakang Consulting.

The foregoing summary of the Equity Disposal Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Equity Disposal Agreement, which is filed as Exhibit 10.5 to this Form 8-K.

<u>Equity Pledge Agreement</u>

Pursuant to the terms of the Equity Pledge Agreement dated November 27, 2022, among Baijiakang Consulting and the shareholders of Kangbaier Liaoning (the "**Pledge Agreement**"), the shareholders of Kangbaier Liaoning pledged all of their equity interests in Kangbaier Liaoning to Baijiakang Consulting, including the proceeds thereof, to guarantee Kangbaier Liaoning's performance of its obligations under the Business Operation Agreement, the Consulting Service Agreement and the Equity Disposal Agreement (each, a "**Agreement**", collectively, the "**Agreements**"). If Kangbaier Liaoning or its shareholders breach its respective contractual obligations under any Agreements, or cause to occur one of the events regards as an event of default under any Agreements, Baijiakang Consulting, as pledgee, will be entitled to certain rights, including the right to dispose of the pledged equity interest in Kangbaier Liaoning. During the term of the Pledge Agreement, the pledged equity interests cannot be transferred without Baijiakang Consulting's prior written consent. The Pledge Agreements is valid until all the obligations due under the Agreements have been fulfilled.

The foregoing summary of the Equity Pledge Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Equity Pledge Agreement, which is filed as Exhibit 10.6 to this Form 8-K.

Based on these contractual arrangements, the Company consolidates the VIE in accordance with SEC Regulation S-X Rule 3A-02 and Accounting Standards Codification ("ASC") topic 810 ("ASC 810"), Consolidation. The Company through its wholly owned subsidiaries is the primary beneficiary of the contractual agreements with Kangbaier Liaoning.

The accompanying consolidated financial statements reflect the activities of each of the following entities:

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| | | | |
|:---|:---|:---|:---|
| **Name** | **Background** | **Background** | **Ownership** |
| Cambell International Holding Limited | ● | A British Virgin Islands company | Holding Entity |
|  | ● | Principal activities: Investment holding |  |
|  | · |  |  |
| Win&win Industrial Development Limited | ● | A British Virgin Islands company | 100% |
|  | ● | Principal activities: Investment holding |  |
|  | · |  |  |
| BJK Holding Group Limited | ● | A Hong Kong company | 100% |
|  | ● | Principal activities: Investment holding |  |
| Baijiakang (LiaoNing) Health Information Consulting Service Co., Ltd | ● | A PRC limited liability company and deemed a wholly foreign-invested enterprise | 100% |
|  | ● | Principal activities: Consultancy and information technology support |  |
| LiaoNing KangBaiEr Biotechnology Development Co., Ltd. | ● | A PRC limited liability company | VIE by contractual arrangements |
|  | ● | Incorporated on September 22, 2015 |  |
|  | ● | Principal activities: research and development of extraction processes of natural β - carotene, the planting and harvesting of raw materials as well as the production, distribution marketing and sales of natural β - carotene health food products. |  |
| Doron KangBaier Biotechnology Co. LTD<br>| ● | A PRC limited liability company | 100% owned by LiaoNing KangBaiEr |
|  | ● | Principal activities: research and support |  |
| LiaoNing BaiJiaKang<br> Health Technology Co. LTD<br>| ● | A PRC limited liability company | 100% owned by LiaoNing KangBaiEr |
|  | ● | Principal activities: promotion and support |  |

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**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

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***Basis of Presentation***

The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP").

***Principle of Consolidation***

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The consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company transactions and balances are eliminated upon consolidation.

***Going Concern***

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on, among other things, the Company's ability to operate profitably, to generate cash flows from operations, and to pursue financing arrangements to support its working capital requirements.

In assessing the Company's liquidity, the Company monitors and analyzes its cash and cash equivalents and its operating and capital expenditure commitments. The Company's liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. As of June 30, 2022, the Company's current liabilities exceeded the current assets by $2,877,594, its accumulated deficit was $2,200,149 and the Company has incurred losses during the years ended June 30, 2022 and 2021. We may not be able to obtain additional financing. If we are unable to raise additional capital, we may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of our business plan, and reducing overhead expenses. We cannot provide any assurance that new financing will be available to us on commercially acceptable terms, if at all.

In evaluating if there is substantial doubt about the ability to continue as a going concern, the Company is trying to alleviate the going concern risk through (1) increasing cash generated from operations by controlling operating expenses, (2) financing from domestic banks and other financial institutions, and (3) equity or debt financing. The Company has certain plans to mitigate these adverse conditions and to increase the liquidity.

On an on-going basis, the Company will also receive financial support commitments from the Company's related parties.

These conditions raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

***Liquidity***

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The Company had a working deficit of $2,877,594 as of June 30, 2022, a decrease of $1,218,003 from a working deficit of $1,659,591 as of June 30, 2021. As of June 30, 2022 and 2021, the Company's cash was $204,004 and $63,793, respectively.

The Company's primary need for liquidity stems from its need to fund working capital requirements of the Company's businesses, its capital expenditures and its general operations, including debt repayment. The Company has historically financed its operations through loans from directors and shareholders, and other third party. The Company routinely monitors current and expected operational requirements and financial market conditions to evaluate the use of available financing sources. In addition, the existing major shareholder committed not to request for repayment of the amount due to shareholders by June 30, 2022. Considering the existing working capital position and the ability to access debt funding sources, the management believes that the Company's operations and borrowing resources are sufficient to provide for its current and foreseeable capital requirements to support its ongoing operations for the next twelve months.

***Use of Estimates***

The preparation of these consolidated financial statements requires management of the Company to make estimates and judgments that affect the reported amounts of assets, including application of discount on long-term other receivables with present value, liabilities, revenues, costs and expenses, and related disclosures. On an on-going basis, the Company evaluates its estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Identified below are the accounting policies that reflect the Company's most significant estimates and judgments, and those that the Company believes are the most critical to fully understanding and evaluating its consolidated financial statements.

In March 2020 the World Health Organization declared coronavirus COVID-19 a global pandemic. The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. The pandemic may impact Company's future estimates including, but not limited to, our allowance for doubtful accounts, inventory valuations, fair value measurements, asset impairment charges. It is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its effects on its business or results of operations at this time.

***Fair Value of Financial Instruments***

U.S. GAAP establishes a three-tier hierarchy to prioritize the inputs used in the valuation methodologies in measuring the fair value of financial instruments. This hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three-tier fair value hierarchy is:

Level 1 – observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 – include other inputs that are directly or indirectly observable in the marketplace.

Level 3 – unobservable inputs which are supported by little or no market activity.

The carrying value of the Company's financial instruments, including cash, accounts receivable, other current assets, accounts payable, and accruals and other payable approximate their fair value due to their short maturities.

In accordance with ASC 825, for investments in financial instruments with a variable interest rate indexed to performance of underlying assets, the Company elected the fair value method at the date of initial recognition and carried these investments at fair value. Changes in the fair value are reflected in the accompanying consolidated statements of operations and comprehensive loss as other income (expense). To estimate fair value, the Company refers to the quoted rate of return provided by banks at the end of each period using the discounted cash flow method. The Company classifies the valuation techniques that use these inputs as Level 2 of fair value measurements.

As of June 30, 2022 and 2021, the Company had no investments in financial instruments.

***Cash***

Cash consists of cash on hand and at banks and highly liquid investments, which are unrestricted from withdrawal or use, and which have original maturities of three months or less when purchased.

Cash denominated in RMB with a U.S. dollar equivalent of $204,004 and $63,793 at June 30, 2022 and 2021, respectively, were held in accounts at financial institutions located in the PRC‚ which is not freely convertible into foreign currencies. In addition, these balances are not covered by insurance. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness. The Company, its subsidiaries and VIE have not experienced any losses in such accounts and do not believe the cash is exposed to any significant risk.

 ****

***Accounts Receivable, Net and Allowance for Doubtful Accounts***

Accounts receivable represents the revenue earned from the customers not yet collected. The carrying value of accounts receivable is reduced by an allowance that reflects the Company's best estimate of the amounts that will not be collected. Account balances are charged off against the provision after all means of collection have been exhausted and the likelihood of collection is not probable. For the year ended June 30, 2022, the Company adopted ASU 2016-13, "Financial Instruments — Credit Losses (Topic 326): Measurement on Credit Losses on Financial Instruments", including certain subsequent amendments, transitional guidance and other interpretive guidance within ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, ASU 2020-02 and ASU 2020-03 (collectively, including ASU 2016-13, "ASC 326"). ASC 326 introduces an approach based on expected losses to estimate the allowance for doubtful accounts, which replaces the previous incurred loss impairment model. The Company's estimation of allowance for doubtful accounts considers factors such as historical credit loss experience, age of receivable balances, current market conditions, reasonable and supportable forecasts of future economic conditions, as well as an assessment of receivables due from specific identifiable counterparties to determine whether these receivables are considered at risk or uncollectible. The Company assesses collectability by pooling receivables that have similar risk characteristics and evaluates receivables individually when specific receivables no longer share those risk characteristics. For receivables evaluated individually, when it is determined that foreclosure is probable or when the debtor is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of collateral, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. The balance of allowance of June 30, 2022 and 2021 were $62,804 and $86,868, respectively.

***Inventory***

Inventory primarily consists of 1) raw materials, primarily ingredients such as carrots, 2) finished goods, primarily β-carotene series products including carrot juice, carrot meal and carrot noodle, and 3) miscellaneous such as packages.

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Inventories are stated at the lower of cost or net realizable value (market value). The cost of raw materials is determined on the basis of weighted average. The cost of finished goods is determined on the basis of weighted average and comprises direct materials, direct labor and an appropriate proportion of overhead.

Net realizable value is based on estimated selling prices less selling expenses and any further costs expected to be incurred for completion. Adjustments to reduce the cost of inventory to net realizable value are made, if required, for estimated excess, obsolescence, or impaired balances.

***Property, Plant and Equipment***

Property, plant and equipment, net is recorded at cost less accumulated depreciation and accumulated impairment. Depreciation is computed using the straight-line method over the estimated useful lives of the assets.

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| | |
|:---|:---|
| <br>**Categories** | **Useful**<br>**Lives<br> (Years)** |
| Furniture and equipment | 3 |
| Machinery | 5 |
| Motor vehicles | 4 |

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Expenditure for maintenance and repairs is expended as incurred.

The gain or loss on the disposal of equipment is the difference between the net sales proceeds and the lower of the carrying value or fair value less cost to sell the relevant assets and is recognized in general and administrative expenses in the consolidated statements of income and comprehensive income.

***Impairment of Long-lived Assets***

In accordance with ASC 360-10-35, the Company reviews the carrying values of long-lived assets, including property and equipment with finite lives and intangible assets subject to amortization, for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, the Company would reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. The estimation of future cash flows requires significant management judgment based on the Company's historical results and anticipated results and is subject to many factors. The discount rate that is commensurate with the risk inherent in the Company's business model is determined by its management. An impairment loss would be recorded if the Company determined that the carrying value of long-lived assets may not be recoverable. The impairment to be recognized is measured by the amount by which the carrying values of the assets exceed the fair value of the assets. Impairment of $2,871 and $2,979 has been recorded by the Company as of June 30, 2022 and 2021.

 ****

***Revenue Recognition***

Effective January 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers, which replaced ASC Topic 605, using the modified retrospective method of adoption.

The Company recognizes revenues when its customer obtains control of promised goods, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods. The Company recognizes revenues following the five-step model prescribed under ASU No. 2014-09: (i) identify contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenues when (or as) the Company satisfies the performance obligation. The application of the five-step model to the revenue streams compared to the prior guidance did not result in significant changes in the way the Company records its revenue. Upon adoption, the Company evaluated its revenue recognition policy for all revenue streams within the scope of the ASU under previous standards and using the five-step model under the new guidance and confirmed that there were no differences in the pattern of revenue recognition. Hence, the Company's accounting for revenue remains substantially unchanged. There were no cumulative effect adjustments for service contracts in place prior to the adoption. The effect from the adoption of ASC Topic 606 was not material to the Company's consolidated financial statements.

The Company applies judgment in determining the customer's ability and intention to pay, which is based on a variety of factors including the customer's historical payment experience.

Judgment is used in determining: (1) whether the financing component in the sales agreement is significant and, if so, (2) the discount rate used in calculating the significant financing component. The Company assesses the significance of the financing component based on the timing of payments agreed to by the parties to the contract that provides the customer with a significant benefit of financing. If determined to be significant, the Company adjusts the promised amount of consideration for the effects of the time value of money.

Judgment is also used in assessing whether the long-term accounts receivable results in variable consideration and, if so, the amount to be included in the transaction price. The Company applies the portfolio approach to estimating the amount of variable consideration in these arrangements using the most likely amount method that is based on the Company's historical collection experience under similar arrangements.

Based on the above significant judgements, the financing component, arising from the long-term accounts receivable was recognized as financing revenue over the time of payment. There was no financing revenue for the years ended June 30, 2022 and 2021, respectively.

The Company is in traditional production business operation and its performance obligation is delivery of the products to customers within the agreed upon time and location. Customers sign on the delivery notes to indicate their acceptance. The typical payment term is either advance payment or agreed-upon credit terms after delivery of products. There is no warranty and return policy for the customers. The Company accounts for the sales of health care products using the gross method, as it exercises control over the products that it sells until at which point it transfers control of the products to its customers and recognizes revenue.

There are two revenue streams within the Company's operations: (1) sales of health care products which constitutes the majority of the revenues, and (2) others.

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| | | |
|:---|:---|:---|
|  | **For the Years Ended** | **For the Years Ended** |
|  | **2022** | **2021** |
|  | Sales | Sales |
| Health care product sales | $817954 | $771755 |
| Others | 11417 | - |
| Total revenues | $829371 | 771755 |

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There is no variable consideration and non-cash consideration agreed with the customers. The transaction price is fixed and allocated to the agreed product, the only performance obligation. The revenue is recognized at a point in time once the Company has determined that the customers have obtained control over the products. Control is typically deemed to have been transferred to the customers when the performance obligation is fulfilled, usually at the time of delivery, at the net sales price (transaction price).

There is no contract asset that the Company has right to consideration in exchange for the product sales that the Company has transferred to customers. Such right is not conditional on something other than the passage of time.

<u>Practical expedients and exemption</u>

The Company elected a practical expedient that it does not adjust the promised amount of consideration for the effects of a significant financing component if the Company expects that, upon the inception of revenue contracts, the period between when the Company transfers its promised deliverables to its customers and when the customers pay for those deliverables will be more than one year.

***Advertising and Promotional Expenses***

Advertising costs are expensed as incurred and included in selling expenses. Advertising costs amounted to $161,853 and $14,057 for the years ended June 30, 2022 and 2021, respectively.

***Income Tax***

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The Company's subsidiary in China are subject to the income tax laws of the relevant tax jurisdiction. No taxable income was generated outside the PRC for the years ended June 30, 2022 and 2021. The Company accounts for income tax in accordance with U.S. GAAP.

Current income taxes are provided on the basis of net profit (loss) for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions.

Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements, net operating loss carry forwards and credits. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided in accordance with the laws of the relevant taxing authorities. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in which temporary differences are expected to be reversed or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the statement of comprehensive loss in the period of the enactment of the change.

The Company considers positive and negative evidence when determining whether a portion or all of its deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carry-forward periods, its experience with tax attributes expiring unused, and its tax planning strategies. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry-forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Company has considered possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry-forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry.

An uncertain tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized upon examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. PRC tax returns filed in 2022 and 2021 are subject to examination by any applicable tax authorities. The Company had no uncertain tax position for the years ended June 30, 2022 and 2021.

***Value Added Tax***

The Company was subject to VAT at the rate of 13% and related surcharges on revenue generated from selling products for the years ended June 30, 2022 and 2021. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities.

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***Earnings Per Share***

The Company has adopted ASC Topic 260, "Earnings per Share," ("EPS") which requires presentation of basic EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation. In the accompanying consolidation financial statements, basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period.

Diluted EPS includes the effect from potential issuance of ordinary shares. There was no potentially dilutive share to be issued during the fiscal years ended June 30, 2022 and 2021.

***Related Parties***

The Company adopted ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions.

***Foreign Currency and Foreign Currency Translation***

The functional currency of the Company is the Chinese Yuan ("RMB"), as their functional currencies. An entity's functional currency is the currency of the primary economic environment in which it operates, normally that is the currency of the environment in which the entity primarily generates and expends cash. Management's judgment is essential to determine the functional currency by assessing various indicators, such as cash flows, sales price and market, expenses, financing and inter-company transactions and arrangements.

Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are re-measured at the applicable rates of exchange in effect at that date. Gains and losses resulting from foreign currency re-measurement are included in the statements of comprehensive loss.

The consolidated financial statements are presented in U.S. dollars. Assets and liabilities are translated into U.S. dollars at the current exchange rate in effect at the balance sheet date, and revenues and expenses are translated at the average of the exchange rates in effect during the reporting period. Shareholders' equity accounts are translated using the historical exchange rates at the date the entry to shareholders' equity was recorded, except for the change in retained earnings during the period, which is translated using the historical exchange rates used to translate each period's income statement. Differences resulting from translating functional currencies to the reporting currency are recorded in accumulated other comprehensive income in the consolidated balance sheets.

Translation of amounts from RMB into U.S. dollars has been made at the following exchange rates:

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| | |
|:---|:---|
| Balance sheet items, except for equity accounts |  |
| June 30, 2022 | RMB6.6991 to $1 |
| June 30, 2021 | RMB6.6549 to $1 |
| Income statement and cash flows items |  |
| For the year ended June 30, 2022 | RMB6.4556 to $1 |
| For the year ended June 30, 2021 | RMB6.6207 to $1 |

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***Segment reporting***

The Company's management reviews the consolidated results when making decisions about allocating resources and assessing performance of the Company as a whole and hence, the Company has only one reportable segment. The Company does not distinguish between markets or segments for the purpose of internal reporting. The Company's long-lived assets are substantially all located in the PRC and substantially all of the Company's revenues are derived from within the PRC. Therefore, no geographical segments are presented.

***Commitments and Contingencies***

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In the normal course of business, the Company is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters, such as government investigations and tax matters. The Company recognizes a liability for such contingency if it determines it is probable that a loss has occurred, and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments including historical and the specific facts and circumstances of each matter.

***Recent Accounting Pronouncements***

In June 2017, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): The amendments in this Update require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The amendments broaden the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The use of forecasted information incorporates more timely information in the estimate of expected credit loss, which will be more decision useful to users of the financial statements. In November 2019, the FASB issued ASU 2019-10 which defers the effective dates for the credit losses, derivatives and lease standards for certain companies. The deferred effective date for credit losses is January 1, 2023 for calendar-year end companies which are "smaller reporting companies", non-SEC filers and all other companies including not-for-profit companies and employee benefit plans. The deferral for the derivatives and lease standards is only applicable to the companies which are not public business entities. The Group is still evaluating the impact of the accounting standard of credit losses on the Group's consolidated financial statements and related disclosures.

On December 18, 2019, the FASB issued ASU No. 2019-12, Income taxes (Topic 740), Simplifying the Accounting for Income Taxes. This guidance amends ASC Topic 740 and addresses several aspects including 1) evaluation of step-up tax basis of goodwill when there is not a business combination, 2) policy election to not allocate consolidated taxes on a separate entity basis to entities not subject to income tax, 3) accounting for tax law changes or rates during interim periods, 4) ownership changes from equity method investment to subsidiary or vice versa, 5) elimination of exception to intraperiod allocation when there is gain in discontinued operations and a loss from continuing operations, 6) treatment of franchise taxes that are partially based on income. The guidance is effective for calendar year-end public entities on January 1, 2021 and other entities on January 1, 2022. The Group is evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

In October 2020, the FASB issued ASU 2020-10, "Codification Improvements". The amendments in this Update represent changes to clarify the Codification or correct unintended application of guidance that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments in this Update affect a wide variety of Topics in the Codification and apply to all reporting entities within the scope of the affected accounting guidance. ASU 2020-10 is effective for the Company for fiscal years beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. The amendments in this Update should be applied retrospectively. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.

The Group does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Group's consolidated balance sheets, consolidated statements of income and comprehensive income and consolidated statements of cash flows.

**3. ACCOUNTS RECEIVABLE, NET**

Accounts receivable consist of the following:

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| | | |
|:---|:---|:---|
|  | **June 30,<br> 2022** | **June 30,<br> 2021** |
| Accounts receivable | 62804 | 139385 |
| Less: allowance for doubtful accounts | (62804) | (86868) |
| Accounts receivable, net | - | 52517 |

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The following table sets forth the movement of allowance for doubtful accounts:

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| | | |
|:---|:---|:---|
|  | **June 30,<br> 2022** | **June 30,<br> 2021** |
| Beginning balance | $86868 | $- |
| Additions |  | 84692 |
| Write off | (21685) |  |
| Exchange rate difference | (2379) | 2176 |
| Ending balance | $62804 | $86868 |

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**4. PREPAYMENTS**

Prepayments consist of the following:

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| | | |
|:---|:---|:---|
|  | **June 30,<br> 2022** | **June 30,<br> 2021** |
| Prepayments for inventory | $105216 | $14278 |
|  | $105216 | $14278 |

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**5. OTHER RECEIVABLE**

Other receivable consists of the following:

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| | | |
|:---|:---|:---|
|  | **June 30,<br> 2022** | **June 30,<br> 2021** |
| Receivables from third party companies | $149262 | $464765 |
| Loans receivable from employees | 1161604 | 15181 |
| Other receivable - current | $1310866 | $479946 |

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| | | |
|:---|:---|:---|
|  | **June 30,<br> 2022** | **June 30,<br> 2021** |
| Other receivable – long term | $615987 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |

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Receivables from third party companies are interest free and due on demand. Loans receivable from employees are interest free and due on demand. $597,096 of loans receivable have been repaid to the Company in October 2022.

**6. INVENTORY**

Inventory consisted of the following:

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| | | |
|:---|:---|:---|
|  | **June 30,<br> 2022** | **June 30,<br> 2021** |
| Raw materials, parts, and components | $87478 | $220125 |
| Finished goods | 207052 | 260151 |
| Miscellaneous supplies | 10516 | 12820 |
|  | $305046 | $493096 |

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**7. PROPERTY, PLANT AND EQUIPMENT, NET**

Property, plant and equipment consisted of the following:

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| | | |
|:---|:---|:---|
|  | **June 30,<br> 2022** | **June 30,<br> 2021** |
| Vehicle | $19419 | $- |
| Office equipment | 72177 | 7904 |
| Machinery, equipment, and tools | 85858 | 80087 |
| Total | 177454 | 87991 |
| Less: accumulated depreciation | (86993) | (16828) |
| &nbsp;&nbsp;&nbsp;Impairment on equipment | (2871) | (2979) |
| Property, plant and equipment, net | $87590 | $68183 |

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Depreciation expenses charged to the consolidated statements of income and comprehensive income for the years ended June 30, 2022 and 2021 were $73,448 and $13,813 respectively.

**8. ADVANCE FROM CUSTOMERS**

Changes in advance from customers as follows:

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| | | |
|:---|:---|:---|
|  | **June 30,** | **June 30,** |
|  | **2022** | **2021** |
| Advance from customers, beginning of the period | $- | $315424 |
| Customer deposits received during the period | 6668713 |  |
| Revenue recognized from customer deposits | - | (315424) |
| Advance from customers, end of the period | $6668713 | $- |

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$6,427,802 of customer deposits was refunded to customers during the quarter ended September 30, 2022 due to change of production plan.

**9. OTHER PAYABLES**

Other payables consist of the following:

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| | | |
|:---|:---|:---|
|  | **June 30,<br> 2022** | **June 30,<br> 2021** |
| Loans payable | $4376863 | $54378 |
| Other | 80 | - |
|  | $**4376943** | $**54378** |

---

Loans payable are unsecured, interest free and due on demand. $3,871,684 of loans payable have been repaid by the Company during the months of July and August of 2022.

**10. AMOUNTS DUE FROM AND DUE TO RELATED PARTIES**

---

| | | |
|:---|:---|:---|
|  | **June 30,<br> 2022** | **June 30,<br> 2021** |
| **Amounts due from related parties:** |  |  |
| Duolun Kangbaier Biotechnology Co. LTD (a) | $1194 | $- |
| Panjin Kangying Health Food Co., LTD (a) | 149 |  |
| Liaoning Baijiakang Health Technology Co. LTD (a) | 45 |  |
| Ms. Xiuzhi Sun (b) | 4757546 |  |
| Ms. Xiuhua Sun (c) | 1087722 |  |
| Mr. Yuewen Sun (d) | 970281 |  |
| Mr. Zengwen Wang (e) | 746370 |  |
| Mr. Mingkai Cao (f) | 4479 |  |
| Mr. Tianzhu Sun (g) | - | 1549 |
| Total | $7567786 | $1549 |
| **Amounts due to related parties:** |  |  |
| Jilin Kangbaier Biotechnology Co., LTD (a) | $298548 | $306745 |
| Panjin Double Eagle Green Health Food Co. LTD (h) | 114180 | 118500 |
| Panjin Double Eagle Weishi Green Health Food Co. LTD (h) | 107897 | 111979 |
| Mr. Zengwen Wang (e) | 620846 | 35632 |
| Ms. Xiuhua Sun (c) | 67173 | 472758 |
| Ms. Xiuzhi Sun (b) | - | 1595828 |
| Total | $1208644 | $2641442 |

---

(a) The companies of the authorized representative of the Company.

(b) The authorized representative of the Company.

(c) Sister of Ms. Xiuzhi Sun.

(d) Brother of Ms. Xiuzhi Sun.

(e) Nephew of Ms. Xiuzhi Sun.

(f) Family member of Ms. Xiuzhi Sun.

(g) Shareholder of the Company.

(h) Companies under the control of the Company's shareholders.

All the above balances are due on demand, interest-free and unsecured. The funds borrowed from related parties were used to fund the Company's operations. $7,017,927 of amounts due from related parties were settled during the months of July through September of 2022.

**11.** **INCOME TAXES** 

The Company is subject to income taxes on an entity basis on income arising in or derived from the tax jurisdiction in which each entity is domiciled.

**PRC** 

Under the Enterprise Income Tax ("EIT") Law, which has been effective since January 1, 2008, domestic enterprises and foreign invested enterprises (the "FIEs") are subject to a unified 25% enterprise income tax rate, except for certain entities that are entitled to tax holidays.

For the years ended June 30, 2022 and 2021, a reconciliation of the income tax expense determined at the statutory income tax rate to the Company's income taxes is as follows:

---

| | | |
|:---|:---|:---|
|  | **2022** | **2021** |
| Loss before income taxes | $(664782) | $(1274405) |
| PRC preferential income tax rate | 25% | 25% |
| Income tax credit computed at statutory corporate income tax rate | (166196) | (318601) |
| Reconciling items: |  |  |
| Non-deductible expenses | 205309 | 240245 |
| Change in valuation allowance | (39114) | 78356 |
| Income tax expense | $- | $- |

---

The Company evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. for the years ended June 30, 2022 and 2021, the Company had no unrecognized tax benefits.

&nbsp;&nbsp;&nbsp;&nbsp;**12.** **CHINA CONTRIBUTION PLAN** 

The Company participates in a government-mandated multi-employer defined contribution plan pursuant to which certain retirement, medical and other welfare benefits are provided to employees. Chinese labor regulations require the Company to pay to the local labor bureau a monthly contribution at a stated contribution rate based on the monthly compensation of qualified employees. The relevant local labor bureau is responsible for meeting all retirement benefit obligations; the Company has no further commitments beyond their monthly contributions.

&nbsp;&nbsp;&nbsp;&nbsp;**13.** **CONCENTRATIONS AND CREDIT RISK** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) *Concentrations* 

In the year ended June 30, 2022, two customers accounted for over 98.83% of the Company's revenues. In the year ended June 30, 2021, four customers accounted for over 99.59% of the Company's revenues. No other customer accounts for more than 10% of the Company's revenue in the years ended June 30, 2022 and 2021.

As of June 30, 2022, one customer accounted for 100% of the Company's accounts receivable. As of June 30, 2021, three customers accounted for 46.76%, 30.45% and 15.56% of the Company's accounts receivable, respectively. No other customer accounts for more than 10% of the Company's accounts receivable for the years ended June 30, 2022 and 2021.

As of June 30, 2022, four suppliers each accounted for 88.41% of the Company's accounts payable. As of June 30, 2021, two suppliers each accounted for 100% of the Company's accounts payable. No other supplier accounts for over 10% of the Company's accounts payable for the years ended June 30, 2022 and 2021.

&nbsp;&nbsp;&nbsp;&nbsp;(b) *Credit risk* 

Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash. As of June 30, 2022 and 2021, substantially all of the Company's cash were held by major financial institutions located in the PRC, which management believes are of high credit quality.

For the credit risk related to trade accounts receivable, which are unsecured in nature, the Company performs ongoing credit evaluations of its customers and, if necessary, maintains reserves for potential credit losses. Historically, such losses have been within management's expectations; however, there is the extremely remote chance that all trade receivables may be become uncollectible.

&nbsp;&nbsp;&nbsp;&nbsp;**14.** **COMMITMENTS AND CONTINGENCIES** 

*Contingencies*

In the ordinary course of business, the Company may be subject to certain legal proceedings, claims and disputes that arise from the business operations. Although the outcomes of these legal proceedings cannot be predicted, the Company does not believe these actions, in the aggregate, will have a material adverse impact on its financial position, results of operations or liquidity. As of June 30, 2022, the Company had no outstanding lawsuits or claims.

&nbsp;&nbsp;&nbsp;&nbsp;**15.** **SUBSEQUENT EVENT** 

On December 30, 2022, Bitmis Corp. ("Bitmis") and Cambell International Holding Limited, and all shareholders of Cambell International Holding Limited immediately prior to the closing (collectively, the " Cambell International Holding Limited Shareholders", each, a "Cambell International Holding Limited Shareholder") entered into a share exchange agreement (the "Share Exchange Agreement"), pursuant to which the Bitmis acquired 100% of the issued and outstanding equity securities of Cambell International Holding Limited in exchange for 9,000,000 shares of preferred shares, and 1,000,000 shares of common stock, par value $0.0001 per share (the "Common Stock") of Bitmis (the "Share Exchange"). As a result, immediately following the closing of the Share Exchange, Cambell International Holding Limited Shareholders collectively control over 90% of the voting power of Bitmis.

 **CAMBELL INTERNATIONAL HOLDING LIMITED**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**AS OF SEPTEMBER 30, 2022 AND JUNE 30, 2022**

**(Expressed in U.S. dollar, except for the number of shares)**

---

| | | |
|:---|:---|:---|
|  | **September 30,<br> 2022** | **June 30,<br> 2022** |
|  | **(Unaudited)** | |
| **ASSETS** | | |
| **CURRENT ASSETS** | | |
| Cash | $167364 | $204004 |
| Accounts receivable, net of $59,125 and $62,804 allowance for doubtful accounts as of September 30, 2022 and June 30, 2022, respectively |  |  |
| Prepayments | 80380 | 105216 |
| Other receivables | 1179050 | 1310866 |
| Amounts due from related parties | 549859 | 7567786 |
| Inventory | 272646 | 305046 |
| Total current assets | 2249299 | 9492918 |
| **NON-CURRENT ASSETS** |  |  |
| Long-term other receivable | 587019 | 615987 |
| Property, plant and equipment, net | 74035 | 87590 |
| Total non-current assets | 661054 | 703577 |
| **TOTAL ASSETS** | $2910353 | $10196495 |
| **LIABILITIES AND SHAREHOLDERS' DEFICIT** |  |  |
| **CURRENT LIABILITIES** |  |  |
| Accounts payable | $80823 | $82365 |
| Advance from customers | 240911 | 6668713 |
| Amounts due to related parties | 4182815 | 1208644 |
| Payroll payable | 86 | 22447 |
| Tax payable | 8763 | 11400 |
| Other payables | 505179 | 4376943 |
| Total current liabilities | 5018577 | 12370512 |
| **TOTAL LIABILITIES** | 5018577 | 12370512 |
| **COMMITMENTS AND CONTINGENCIES** |  |  |
| **SHAREHOLDERS' DEFICIT** |  |  |
| Ordinary share, par value $0.1 per share; 10,000,000 shares issued and outstanding as of September 30, 2022 and June 30, 2022 | 1000000 | 1000000 |
| Subscription receivable | (1000000) | (1000000) |
| Accumulated deficit | (2264169) | (2200149) |
| Accumulated other comprehensive gain | 155945 | 26132 |
| Total Shareholders' Deficit | (2108224) | (2174017) |
| **TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT** | $2910353 | $10196495 |

---

The accompanying notes are an integral part of these consolidated financial statements.

**CAMBELL INTERNATIONAL HOLDING LIMITED**

**CONDENSED CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE INCOME**

**FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2022 AND 2021**

**(Expressed in U.S. dollar, except for the number of shares)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **For the three months ended September 30,** | **For the three months ended September 30,** |
|  | **2022** | **2021** |
| **REVENUES** | 68035 | 292936 |
| **COST OF REVENUES** | 64133 | 202645 |
| **GROSS PROFIT** | 3902 | 90291 |
| **OPERATING EXPENSES** |  |  |
| Selling expenses | 941 | 12104 |
| General and administrative expenses | 75129 | 107627 |
| **Total operating expenses** | 76070 | 119731 |
| **LOSS FROM OPERATIONS** | (72168) | (29440) |
| **OTHER INCOME (EXPENSE), NET** |  |  |
| Other incomes | 8148 | 1572 |
| Other expenses | - | - |
| **Total other income net** | 8148 | 1572 |
| **NET LOSS BEFORE INCOME TAX** | (64020) | (27868) |
| Income tax expense | - | - |
| **NET LOSS** | (64020) | (27868) |
| **Other comprehensive income:** |  |  |
| Foreign currency translation income | 83041 | 56130 |
| **Total comprehensive income** | $19021 | $28262 |
| Weighted average number of ordinary shares outstanding - basic and diluted | 10000000 | 10000000 |
| Net loss per share-basic and diluted | $(0.01) | $(0.00) |

---

The accompanying notes are an integral part of these consolidated financial statements.

**CAMBELL INTERNATIONAL HOLDING LIMITED**

**CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT**

**FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2022 AND 2021**

**(EXPRESSED IN U.S. DOLLAR, EXCEPT FOR THE NUMBER OF SHARES)**

**(Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Ordinary shares** | **Ordinary shares** | | | | |
|  | **Number**<br>**of shares** |<br>**Amount** |<br>**Subscription**<br>**receivable** |<br>**Accumulated**<br>**deficit** | **Accumulated other**<br>**comprehensive**<br>**income** |<br>**Total** |
| **Balance, June 30, 2022** | **10000000** | $**1000000** | $**(1000000)** | $**(2200149)** | $**26132** | $**(2147017)** |
| Net loss |  |  |  | (64020) |  | (64020) |
| Foreign currency translation adjustment | - | - | - | - | 129813 | 129813 |
| **Balance, September 30, 2022** | **10000000** | $**1000000** | $**(1000000)** | $**(2264169)** | $**155945** | $**(2108224)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Ordinary shares** | **Ordinary shares** | | | | |
|  | **Number of**<br>**shares** |<br>**Amount** |<br>**Subscription**<br>**receivable** |<br>**Accumulated**<br>**deficit** | **Accumulated other**<br>**comprehensive**<br>**income (loss)** |<br>**Total** |
| **Balance, June 30, 2021** | **10000000** | $**1000000** | $**(1000000)** | $**(1535367)** | $**(56041)** | $**(1591408)** |
| Net loss |  |  |  | (27868) |  | (27868) |
| Foreign currency translation adjustment | - | - | - | - | 56130 | 56130 |
| **Balance, September 30, 2021** | **10000000** | $**1000000** | $**(1000000)** | $**(1563234)** | $**89** | $**(1563145)** |

---

The accompanying notes are an integral part of these consolidated financial statements.

**CAMBELL INTERNATIONAL HOLDING LIMITED**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2022 AND 2021**

**(Expressed in U.S. dollars)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **September 30,**<br>**2022** | **September 30,**<br>**2021** |
| **CASH FLOWS FROM OPERATING ACTIVITIES:** |  |  |
| **Net loss** | $**(64020)** | $**(27868)** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net loss to net cash used in operating activities:** |  |  |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income to net cash used in operating activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 56567 | 22730 |
| **Changes in operating assets and liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net |  | (88999) |
| &nbsp;&nbsp;&nbsp;Other receivables | 49825 | (530082) |
| &nbsp;&nbsp;&nbsp;Prepayments | 19418 | 201813 |
| &nbsp;&nbsp;&nbsp;Inventory | 15112 | 57476 |
| &nbsp;&nbsp;&nbsp;Accounts payable | 3415 | 258537 |
| &nbsp;&nbsp;&nbsp;Advance from customers | (6278407) | 32773 |
| &nbsp;&nbsp;&nbsp;Payroll payable | (21887) | 1691 |
| &nbsp;&nbsp;&nbsp;Tax payable | (2049) | (358) |
| &nbsp;&nbsp;&nbsp;Other payables | (3759841) | (54260) |
| **Net cash used in operating activities** | **(9981867)** | **(126547)** |
| **CASH FLOWS FROM INVESTING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;Purchase of property, plant and equipment | (47807) | (36702) |
| **Cash used in investing activities** | (47807) | (36702) |
| **CASH FLOWS FROM FINANCIING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from advances from related parties | 10003998 | 168406 |
| **Cash provided by financing activities** | 10003998 | 168406 |
| **EFFECT OF EXCHANGE RATE ON CASH** | (10964) | 3847 |
| **NET CHANGE IN CASH AND CASH EQUIVALENTS** | (36640) | 9004 |
| **CASH AT BEGINNING OF PERIOD** | 204004 | 63793 |
| **CASH AT END OF PERIOD** | $**167364** | $**72797** |
| **SUPPLEMENTAL CASH FLOW INFORMATION** |  |  |
| &nbsp;&nbsp;&nbsp;Cash paid during the period for: |  |  |
| &nbsp;&nbsp;&nbsp;Income taxes | $- | $- |
| &nbsp;&nbsp;&nbsp;Interest | $- | $**-** |

---

The accompanying notes are an integral part of these consolidated financial statements.

**CAMBELL INTERNATIONAL HOLDING LIMITED**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Expressed in U.S. dollars)**

**(Unaudited)**

**1. ORGANIZATION AND BUSINESS**

Cambell International Holding Limited (the "Company"), via the PRC affiliated entity LiaoNing KangBaiEr , engages in the research and development of extraction processes of natural β -carotene, the planting and harvesting of raw materials as well as the production, distribution marketing and sales of natural β -carotene health food products.

In November 2022, Baijiakang Consulting, LiaoNing KangBaiEr, and the shareholders of LiaoNing KangBaiEr entered into a series of contractual agreements for LiaoNing KangBaiEr to qualify as variable interest entity or VIE (the "VIE Agreements"). The VIE Agreements are as follows:

Consulting Service Agreement

Pursuant to the terms of the Exclusive Consulting and Service Agreement dated November 27 2022, between Baijiakang Consulting and Kangbaier Liaoning (the "**Consulting Service Agreement**"), Baijiakang Consulting is the exclusive consulting and service provider to Kangbaier Liaoning to provide business-related software research and development services; design, installation, and testing services; network equipment support, upgrade, maintenance, monitor, and problem-solving services; employees training services; technology development and sublicensing services; public relations services; market investigation, research, and consultation services; short to medium term marketing plan-making services; compliance consultation services; marketing events and membership related activities planning and organizing services; intellectual property permits; equipment and rental services; and business-related management consulting services. Pursuant to the Consulting Service Agreement, the service fee is the remaining amount after Kangbaier Liaoning's profit before tax in the corresponding year deducts Kangbaier Liaoning's losses, if any, in the previous year, the necessary costs, expenses, taxes, and fees incurred in the corresponding year, and the withdraws of the statutory provident fund. Kangbaier Liaoning agreed not to transfer its rights and obligations under the Consulting Service Agreement to any third party without prior written consent from Baijiakang Consulting. In addition, Baijiakang Consulting may transfer its rights and obligations under the Consulting Service Agreement to Baijiakang Consulting's affiliates without Kangbaier Liaoning's consent, but Baijiakang Consulting shall notify Kangbaier Liaoning of such transfer. This Agreement is valid for a term of 10 years subject to any extension requested by Baijiakang Consulting unless terminated by Baijiakang Consulting unilaterally prior to the expiration.

The foregoing summary of the Consulting Service Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Consulting Service Agreement, which is filed as Exhibit 10.2 to this Form 8-K.

Business Operation Agreement

Pursuant to the terms of the Business Operation Agreement dated November 27, 2022, among Baijiakang Consulting, Kangbaier Liaoning and the shareholders of Kangbaier Liaoning (the "**Business Operation Agreement**"), Kangbaier Liaoning has agreed to subject the operations and management of its business to the control of Baijiakang Consulting. According to the Business Operation Agreement, Kangbaier Liaoning is not allowed to conduct any transactions that has substantial impact upon its operations, assets, rights, obligations and personnel without the Baijiakang Consulting's written approval. The shareholders of Kangbaier Liaoning and Kangbaier Liaoning will take Baijiakang Consulting's advice on appointment or dismissal of directors, employment of Kangbaier Liaoning's employees, regular operation, and financial management of Kangbaier Liaoning. The shareholders of Kangbaier Liaoning have agreed to transfer any dividends, distributions or any other profits that they receive as the shareholders of Kangbaier Liaoning to Baijiakang Consulting without consideration. The Business Operation Agreement is valid for a term of 10 years or longer upon the request of Baijiakang Consulting prior to the expiration thereof. The Business Operation Agreement might be terminated earlier by Baijiakang Consulting with a 30-day written notice.

The foregoing summary of the Business Operation Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Business Operation Agreement, which is filed as Exhibit 10.3 to this Form 8-K.

Proxy Agreement

Pursuant to the terms of the Proxy Agreements dated November 27, 2022, among Baijiakang Consulting, and the shareholders of Kangbaier Liaoning (each, the "**Proxy Agreement**", collectively, the "Proxy Agreements"), each shareholder of Kangbaier Liaoning has irrevocably entrusted his/her shareholder rights as Kangbaier Liaoning's shareholder to Baijiakang Consulting , including but not limited to, proposing the shareholder meeting, accepting any notices with regard to the convening of shareholder meeting and any other procedures, conducting voting rights, and selling or transferring the shares held by such shareholder, for 10 years or earlier if the Business Operation Agreement was terminated for any reasons.

The foregoing summary of the Proxy Agreements does not purport to be complete and is subject to, and qualified in its entirety by, the Proxy Agreements, which are filed as Exhibit 10.4 to this Form 8-K.

Equity Disposal Agreement

Pursuant to the terms of the Equity Disposal Agreement dated November 27, 2022, among Baijiakang Consulting, Kangbaier Liaoning, and the shareholders of Kangbaier Liaoning (the "**Equity Disposal Agreement**"), the shareholders of Kangbaier Liaoning granted Baijiakang Consulting or its designees an irrevocable and exclusive purchase option (the "**Option"**) to purchase Kangbaier Liaoning's all or partial equity interests and/or assets at the lowest purchase price permitted by PRC laws and regulations. The option is exercisable at any time at Baijiakang Consulting's discretion in full or in part, to the extent permitted by PRC law. The shareholders of Kangbaier Liaoning agreed to give Kangbaier Liaoning the total amount of the exercise price as a gift, or in other methods upon Baijiakang Consulting's written consent to transfer the exercise price to Kangbaier Liaoning. The Equity Disposal Agreement is valid for a term of 10 years or longer upon the request of Baijiakang Consulting.

The foregoing summary of the Equity Disposal Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Equity Disposal Agreement, which is filed as Exhibit 10.5 to this Form 8-K.

Equity Pledge Agreement

Pursuant to the terms of the Equity Pledge Agreement dated November 27, 2022, among Baijiakang Consulting and the shareholders of Kangbaier Liaoning (the "**Pledge Agreement**"), the shareholders of Kangbaier Liaoning pledged all of their equity interests in Kangbaier Liaoning to Baijiakang Consulting, including the proceeds thereof, to guarantee Kangbaier Liaoning's performance of its obligations under the Business Operation Agreement, the Consulting Service Agreement and the Equity Disposal Agreement (each, a "**Agreement**", collectively, the "**Agreements**"). If Kangbaier Liaoning or its shareholders breach its respective contractual obligations under any Agreements, or cause to occur one of the events regards as an event of default under any Agreements, Baijiakang Consulting, as pledgee, will be entitled to certain rights, including the right to dispose of the pledged equity interest in Kangbaier Liaoning. During the term of the Pledge Agreement, the pledged equity interests cannot be transferred without Baijiakang Consulting's prior written consent. The Pledge Agreements is valid until all the obligations due under the Agreements have been fulfilled.

The foregoing summary of the Equity Pledge Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Equity Pledge Agreement, which is filed as Exhibit 10.6 to this Form 8-K.

Based on these contractual arrangements, the Company consolidates the VIE in accordance with SEC Regulation S-X Rule 3A-02 and Accounting Standards Codification ("ASC") topic 810 ("ASC 810"), Consolidation. The Company through its wholly owned subsidiaries is the primary beneficiary of the contractual agreements with Kangbaier Liaoning.

The accompanying consolidated financial statements reflect the activities of each of the following entities:

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **Background** | **Background** | **Ownership** |
| Cambell International | ● | A British Virgin Islands company | Holding Entity |
| Holding Limited | ● | Principal activities: Investment holding |  |
|  | · |  |  |
| Win&win Industrial | ● | A British Virgin Islands company | 100% |
| Development Limited | ● | Principal activities: Investment holding |  |
|  | · |  |  |
| BJK Holding Group | ● | A Hong Kong company | 100% |
| Limited | ● | Principal activities: Investment holding |  |
| Baijiakang (LiaoNing) Health Information | ● | A PRC limited liability company and deemed a wholly foreign-invested enterprise | 100% |
| Consulting Service Co., Ltd | ● | Principal activities: Consultancy and information technology support |  |
| LiaoNing KangBaiEr | ● | A PRC limited liability company | VIE by contractual |
| Biotechnology | ● | Incorporated on September 22, 2015 | arrangements |
| Development Co., Ltd. | ● | Principal activities: research and development of extraction processes of natural β - carotene, the planting and harvesting of raw materials as well as the production, distribution marketing and sales of natural β - carotene health food products. |  |
| Doron KangBaier  | ● | A PRC limited liability company | 100% owned by |
| Biotechnology Co. LTD | ● | Principal activities: research and support | LiaoNing KangBaiEr |
| LiaoNing BaiJiaKang | ● | A PRC limited liability company | 100% owned by |
| Health Technology Co. LTD | ● | Principal activities: promotion and support | LiaoNing KangBaiEr |

---

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

  ****

***Basis of Presentation***

The interim condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP").

***Principle of Consolidation***

The unaudited interim condensed consolidated financial statements do not include all the information and footnotes required by the U.S. GAAP for complete financial statements. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with the U.S. GAAP have been either condensed or omitted consistent with Article 10 of Regulation S-X. In the opinion of the Company's management, the unaudited interim consolidated financial statements have been prepared on the same basis as the audited financial statements and include all adjustments, in normal recurring nature, as necessary for the fair statement of the Company's financial position as of September 30, 2022, and results of operations and cash flows for the three months ended September 30, 2022 and 2021. Management is responsible for the preparation and the presentation of the accompanying unaudited interim condensed consolidated financial statements. The unaudited interim condensed consolidated balance sheet as of June 30, 2022 has been derived from the audited financial statements at that date but does not include all the information and footnotes required by the U.S. GAAP. Interim results of operations are not necessarily indicative of the results expected for the full fiscal year or for any future period. These financial statements should be read in conjunction with the audited consolidated financial statements as of and for the years ended June 30, 2022 and 2021, and the related notes included in the Company's audited consolidated financial statements.

 ****

***Going Concern***

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on, among other things, the Company's ability to operate profitably, to generate cash flows from operations, and to pursue financing arrangements to support its working capital requirements.

In assessing the Company's liquidity, the Company monitors and analyzes its cash and cash equivalents and its operating and capital expenditure commitments. The Company's liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. As of June 30, 2022, there was substantial doubt that the Company would continue as a going concern. As of September 30, 2022, the Company's current liabilities exceeded the current assets by $2,769,278, its accumulated deficit was $2,264,169 and the Company has incurred losses during the three months ended September 30, 2022 and 2021. We may not be able to obtain additional financing. If we are unable to raise additional capital, we may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of our business plan, and reducing overhead expenses. We cannot provide any assurance that new financing will be available to us on commercially acceptable terms, if at all.

In evaluating if there is substantial doubt about the ability to continue as a going concern, the Company is trying to alleviate the going concern risk through (1) increasing cash generated from operations by controlling operating expenses, (2) financing from domestic banks and other financial institutions, and (3) equity or debt financing. The Company has certain plans to mitigate these adverse conditions and to increase the liquidity.

On an on-going basis, the Company will also receive financial support commitments from the Company's related parties.

These conditions continue to raise substantial doubt about our ability to continue as a going concern and has not alleviated the doubt as of June 30, 2022. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

***Liquidity***

 ****

The Company had a working deficit of $2,769,278 as of September 30, 2022, an increase of $108,316 from a working deficit of $2,877,594 as of June 30, 2022. As of September 30, 2022 and June 30, 2022, the Company's cash was $167,364 and $204,004, respectively.

The Company's primary need for liquidity stems from its need to fund working capital requirements of the Company's businesses, its capital expenditures and its general operations, including debt repayment. The Company has historically financed its operations through loans from directors and shareholders, and other third party. The Company routinely monitors current and expected operational requirements and financial market conditions to evaluate the use of available financing sources. In addition, the existing major shareholder committed not to request for repayment of the amount due to shareholders by June 30, 2022. Considering the existing working capital position and the ability to access debt funding sources, the management believes that the Company's operations and borrowing resources are sufficient to provide for its current and foreseeable capital requirements to support its ongoing operations for the next twelve months.

***Use of Estimates***

The preparation of these consolidated financial statements requires management of the Company to make estimates and judgments that affect the reported amounts of assets including application of discount on long-term other receivables with present value, liabilities, revenues, costs and expenses, and related disclosures. On an on-going basis, the Company evaluates its estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Identified below are the accounting policies that reflect the Company's most significant estimates and judgments, and those that the Company believes are the most critical to fully understanding and evaluating its consolidated financial statements.

In March 2020 the World Health Organization declared coronavirus COVID-19 a global pandemic. The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. The pandemic may impact Company's future estimates including, but not limited to, our allowance for doubtful accounts, inventory valuations, fair value measurements, asset impairment charges. It is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its effects on its business or results of operations at this time.

***Fair Value of Financial Instruments***

U.S. GAAP establishes a three-tier hierarchy to prioritize the inputs used in the valuation methodologies in measuring the fair value of financial instruments. This hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three-tier fair value hierarchy is:

Level 1 – observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 – include other inputs that are directly or indirectly observable in the market place.

Level 3 – unobservable inputs which are supported by little or no market activity.

The carrying value of the Company's financial instruments, including cash, accounts receivable, other current assets, accounts payable, and accruals and other payable approximate their fair value due to their short maturities.

In accordance with ASC 825, for investments in financial instruments with a variable interest rate indexed to performance of underlying assets, the Company elected the fair value method at the date of initial recognition and carried these investments at fair value. Changes in the fair value are reflected in the accompanying consolidated statements of operations and comprehensive loss as other income (expense). To estimate fair value, the Company refers to the quoted rate of return provided by banks at the end of each period using the discounted cash flow method. The Company classifies the valuation techniques that use these inputs as Level 2 of fair value measurements.

As of September 30, 2022 and June 30, 2022, the Company had no investments in financial instruments.

***Cash***

Cash consists of cash on hand and at banks and highly liquid investments, which are unrestricted from withdrawal or use, and which have original maturities of three months or less when purchased.

Cash denominated in RMB with a U.S. dollar equivalent of $167,364 and $204,004 at September 30, 2022 and June 30, 2022, respectively, were held in accounts at financial institutions located in the PRC‚ which is not freely convertible into foreign currencies. In addition, these balances are not covered by insurance. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness. The Company, its subsidiaries and VIE have not experienced any losses in such accounts and do not believe the cash is exposed to any significant risk.

 ****

***Accounts Receivable, Net and Allowance for Doubtful Accounts***

Accounts receivable represents the revenue earned from the customers not yet collected. The carrying value of accounts receivable is reduced by an allowance that reflects the Company's best estimate of the amounts that will not be collected. Account balances are charged off against the provision after all means of collection have been exhausted and the likelihood of collection is not probable. For the year ended June 30, 2022, the Company adopted ASU 2016-13, "Financial Instruments — Credit Losses (Topic 326): Measurement on Credit Losses on Financial Instruments", including certain subsequent amendments, transitional guidance and other interpretive guidance within ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, ASU 2020-02 and ASU 2020-03 (collectively, including ASU 2016-13, "ASC 326"). ASC 326 introduces an approach based on expected losses to estimate the allowance for doubtful accounts, which replaces the previous incurred loss impairment model. The Company's estimation of allowance for doubtful accounts considers factors such as historical credit loss experience, age of receivable balances, current market conditions, reasonable and supportable forecasts of future economic conditions, as well as an assessment of receivables due from specific identifiable counterparties to determine whether these receivables are considered at risk or uncollectible. The Company assesses collectability by pooling receivables that have similar risk characteristics and evaluates receivables individually when specific receivables no longer share those risk characteristics. For receivables evaluated individually, when it is determined that foreclosure is probable or when the debtor is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of collateral, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. The balance of allowance of September 30, 2022 and June 30, 2022 were $59,125 and $62,804, respectively.

***Inventory***

Inventory primarily consists of 1) raw materials, primarily ingredients such as carrots, 2) finished goods, primarily β-carotene series products including carrot juice, carrot meal and carrot noodle, and 3) miscellaneous such as packages.

Inventories are stated at the lower of cost or net realizable value (market value). The cost of raw materials is determined on the basis of weighted average. The cost of finished goods is determined on the basis of weighted average and comprises direct materials, direct labor and an appropriate proportion of overhead.

Net realizable value is based on estimated selling prices less selling expenses and any further costs expected to be incurred for completion. Adjustments to reduce the cost of inventory to net realizable value are made, if required, for estimated excess, obsolescence, or impaired balances.

***Property, Plant and Equipment***

Property, plant and equipment, net is recorded at cost less accumulated depreciation and accumulated impairment. Depreciation is computed using the straight-line method over the estimated useful lives of the assets.

---

| | | |
|:---|:---|:---|
| | **Useful<br> Lives** | **Useful<br> Lives** |
| <br>**Categories** | **(Years)** | **(Years)** |
| Furniture and equipment |  | 3 |
| Machinery |  | 5 |
| Motor vehicles |  | 4 |

---

Expenditure for maintenance and repairs is expended as incurred.

The gain or loss on the disposal of equipment is the difference between the net sales proceeds and the lower of the carrying value or fair value less cost to sell the relevant assets and is recognized in general and administrative expenses in the consolidated statements of income and comprehensive income.

***Impairment of Long-lived Assets***

In accordance with ASC 360-10-35, the Company reviews the carrying values of long-lived assets, including property and equipment with finite lives and intangible assets subject to amortization, for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, the Company would reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. The estimation of future cash flows requires significant management judgment based on the Company's historical results and anticipated results and is subject to many factors. The discount rate that is commensurate with the risk inherent in the Company's business model is determined by its management. An impairment loss would be recorded if the Company determined that the carrying value of long-lived assets may not be recoverable. The impairment to be recognized is measured by the amount by which the carrying values of the assets exceed the fair value of the assets. Impairment of $2,703 and $2,871 has been recorded by the Company as of September 30, 2022 and June 30, 2022.

***Revenue Recognition***

Effective January 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers, which replaced ASC Topic 605, using the modified retrospective method of adoption.

The Company recognizes revenues when its customer obtains control of promised goods, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods. The Company recognizes revenues following the five-step model prescribed under ASU No. 2014-09: (i) identify contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenues when (or as) the Company satisfies the performance obligation. The application of the five-step model to the revenue streams compared to the prior guidance did not result in significant changes in the way the Company records its revenue. Upon adoption, the Company evaluated its revenue recognition policy for all revenue streams within the scope of the ASU under previous standards and using the five-step model under the new guidance and confirmed that there were no differences in the pattern of revenue recognition. Hence, the Company's accounting for revenue remains substantially unchanged. There were no cumulative effect adjustments for service contracts in place prior to the adoption. The effect from the adoption of ASC Topic 606 was not material to the Company's consolidated financial statements.

The Company applies judgment in determining the customer's ability and intention to pay, which is based on a variety of factors including the customer's historical payment experience.

Judgment is used in determining: (1) whether the financing component in the sales agreement is significant and, if so, (2) the discount rate used in calculating the significant financing component. The Company assesses the significance of the financing component based on the timing of payments agreed to by the parties to the contract that provides the customer with a significant benefit of financing. If determined to be significant, the Company adjusts the promised amount of consideration for the effects of the time value of money.

Judgment is also used in assessing whether the long-term accounts receivable results in variable consideration and, if so, the amount to be included in the transaction price. The Company applies the portfolio approach to estimating the amount of variable consideration in these arrangements using the most likely amount method that is based on the Company's historical collection experience under similar arrangements.

Based on the above significant judgements, the financing component, arising from the long-term accounts receivable was recognized as financing revenue over the time of payment. There was no financing revenue for the three months ended September 30, 2022 and 2021, respectively.

The Company is in traditional production business operation and its performance obligation is delivery of the products to customers within the agreed upon time and location. Customers sign on the delivery notes to indicate their acceptance. The typical payment term is either advance payment or agreed-upon credit terms after delivery of products. There is no warranty and return policy for the customers. The Company accounts for the sales of health care products using the gross method, as its controls the products that it sells until at which point it transfers control of the products to its customers and recognizes revenue.

There are two revenue streams within the Company's operations: (1) sales of health care products which constitutes the majority of the revenues, and (2) others.

---

| | | |
|:---|:---|:---|
|  | **For the Three Months Ended** | **For the Three Months Ended** |
|  | **2022** | **2021** |
|  | Sales | Sales |
| Health care product sales | $68035 | $292936 |
| Others | - | - |
| Total revenues | $68035 | 292936 |

---

There is no variable consideration and non-cash consideration agreed with the customers. The transaction price is fixed and allocated to the agreed product, the only performance obligation. The revenue is recognized at a point in time once the Company has determined that the customers have obtained control over the products. Control is typically deemed to have been transferred to the customers when the performance obligation is fulfilled, usually at the time of delivery, at the net sales price (transaction price).

There is no contract asset that the Company has right to consideration in exchange for the product sales that the Company has transferred to customers. Such right is not conditional on something other than the passage of time.

Practical expedients and exemption

The Company elected a practical expedient that it does not adjust the promised amount of consideration for the effects of a significant financing component if the Company expects that, upon the inception of revenue contracts, the period between when the Company transfers its promised deliverables to its customers and when the customers pay for those deliverables will be more than one year.

***Advertising and Promotional Expenses***

Advertising costs are expensed as incurred and included in selling expenses. Advertising costs amounted to nil and $12,104 for the three months ended September 30, 2022 and 2021, respectively.

***Income Tax***

 ****

The Company's subsidiary in China are subject to the income tax laws of the relevant tax jurisdiction. No taxable income was generated outside the PRC for the three months ended September 30, 2022 and 2021. The Company accounts for income tax in accordance with U.S. GAAP.

Current income taxes are provided on the basis of net profit (loss) for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions.

Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements, net operating loss carry forwards and credits. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided in accordance with the laws of the relevant taxing authorities. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in which temporary differences are expected to be reversed or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the statement of comprehensive loss in the period of the enactment of the change.

The Company considers positive and negative evidence when determining whether a portion or all of its deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carry-forward periods, its experience with tax attributes expiring unused, and its tax planning strategies. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry-forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Company has considered possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry-forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry.

An uncertain tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized upon examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. PRC tax returns filed in 2022 and 2021 are subject to examination by any applicable tax authorities. The Company had no uncertain tax position for the years ended June 30, 2022 and 2021.

***Value Added Tax***

The Company was subject to VAT at the rate of 13% and related surcharges on revenue generated from selling products for the three months ended September 30, 2022 and 2021. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities.

 ****

***Earnings Per Share***

The Company has adopted ASC Topic 260, "Earnings per Share," ("EPS") which requires presentation of basic EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation. In the accompanying consolidation financial statements, basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period.

Diluted EPS includes the effect from potential issuance of ordinary shares. There was no potentially dilutive share to be issued during the three months ended September 30, 2022 and 2021.

***Related Parties***

The Company adopted ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions.

***Foreign Currency and Foreign Currency Translation***

The functional currency of the Company is the Chinese Yuan ("RMB"), as their functional currencies. An entity's functional currency is the currency of the primary economic environment in which it operates, normally that is the currency of the environment in which the entity primarily generates and expends cash. Management's judgment is essential to determine the functional currency by assessing various indicators, such as cash flows, sales price and market, expenses, financing and inter-company transactions and arrangements.

Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are re-measured at the applicable rates of exchange in effect at that date. Gains and losses resulting from foreign currency re-measurement are included in the statements of comprehensive loss.

The consolidated financial statements are presented in U.S. dollars. Assets and liabilities are translated into U.S. dollars at the current exchange rate in effect at the balance sheet date, and revenues and expenses are translated at the average of the exchange rates in effect during the reporting period. Shareholders' equity accounts are translated using the historical exchange rates at the date the entry to shareholders' equity was recorded, except for the change in retained earnings during the period, which is translated using the historical exchange rates used to translate each period's income statement. Differences resulting from translating functional currencies to the reporting currency are recorded in accumulated other comprehensive income in the consolidated balance sheets.

Translation of amounts from RMB into U.S. dollars has been made at the following exchange rates:

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| | |
|:---|:---|
| Balance sheet items, except for equity accounts |  |
| September 30, 2022 | RMB7.1159 to $1 |
| June 30, 2022 | RMB6.6991 to $1 |
| Income statement and cash flows items |  |
| For the three months ended September 30, 2022 | RMB6.8425 to $1 |
| For the three months ended September 30, 2021 | RMB6.4688 to $1 |

---

 ****

***Segment reporting***

The Company's management reviews the consolidated results when making decisions about allocating resources and assessing performance of the Company as a whole and hence, the Company has only one reportable segment. The Company does not distinguish between markets or segments for the purpose of internal reporting. The Company's long-lived assets are substantially all located in the PRC and substantially all of the Company's revenues are derived from within the PRC. Therefore, no geographical segments are presented.

***Commitments and Contingencies***

 ****

In the normal course of business, the Company is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters, such as government investigations and tax matters. The Company recognizes a liability for such contingency if it determines it is probable that a loss has occurred, and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments including historical and the specific facts and circumstances of each matter.

***Recent Accounting Pronouncements***

The Company is an emerging growth company ("EGC") as defined by the Jumpstart Our Business Startups Act ("JOBS Act"). The JOBS Act provides that an EGC can take advantage of extended transition periods for complying with new or revised accounting standards. This allows an EGC to delay adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company elected to take advantage of the extended transition periods. However, this election will not apply should the Company cease to be classified as an EGC.

In August 2018, the FASB Accounting Standards Board issued ASU No. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework Changes to the Disclosure Requirements for Fair Value Measurement" ("ASU 2018-13"). ASU 2018-13 modifies the disclosure requirements on fair value measurements. ASU 2018-13 is effective for public entities for fiscal years beginning after June 15, 2019, with early adoption permitted for any removed or modified disclosures. The removed and modified disclosures will be adopted on a retrospective basis and the new disclosures will be adopted on a prospective basis. The Company does not expect this guidance will have a material impact on its consolidated financial statements.

In June 2016, FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Statements. This ASU requires a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. This ASU affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. This ASU affects loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. For public business entities, this ASU is effective for fiscal years beginning after June 15, 2019, including interim periods within those fiscal years. All entities may adopt this ASU through a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). The Company adopted the new standard for the year ended December 31, 2021 using the modified retrospective transition approach. The impact of adopting the new standard was not material to the Group's consolidated financial statements.

In June 2019, the FASB issued ASU 2019-12: Simplifying the Accounting for Income Taxes (Topic 740), which removes certain exceptions to the general principles in Topic 740 and improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This ASU is effective for fiscal years beginning after June 15, 2020, and interim periods within those fiscal years, with early adoption permitted. The Company is evaluating the effect of adopting this new accounting guidance but does not expect adoption will have a material impact on the Company's disclosures.

Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have material impact on the consolidated financial position, statements of operations and cash flows.

**3. ACCOUNTS RECEIVABLE, NET**

Accounts receivable consist of the following:

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| | | |
|:---|:---|:---|
|  | **September 30,** <br> **2022** | **June 30,** <br> **2022** |
| Accounts receivable | 59125 | 62804 |
| Less: allowance for doubtful accounts | (59125) | (62804) |
| Accounts receivable, net | - | - |

---

The following table sets forth the movement of allowance for doubtful accounts:

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| | | |
|:---|:---|:---|
|  | **September 30,**<br> **2022** | **June 30,**<br> **2022** |
| Beginning balance | $62804 | $86868 |
| Additions |  |  |
| Write off |  | (21685) |
| Exchange rate difference | (3679) | (2379) |
| Ending balance | $59125 | $62804 |

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**4. PREPAYMENTS**

Prepayments consist of the following:

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| | | |
|:---|:---|:---|
|  | **September 30,**<br> **2022** | **June 30,**<br> **2022** |
| Prepayments for inventory | $80380 | $105216 |
|  | $80380 | $105216 |

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**5. OTHER RECEIVABLE**

Other receivable consists of the following:

---

| | | |
|:---|:---|:---|
|  | **September 30, 2022** | **June 30,**<br> **2022** |
| Receivables from third party companies | $140518 | $149262 |
| Loans receivable from employees | 1038532 | 1161604 |
| Other receivable - current | $1179050 | $1310866 |

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---

| | | |
|:---|:---|:---|
|  | **September 30,<br> 2022** | **June 30,<br> 2022** |
| Other receivable – long term | $587019 | $615987 |

---

Receivables from third party companies are interest free and due on demand. Loans receivable from employees are interest free and due on demand. $597,096 of loan receivable has been repaid to the Company subsequently during October 2022.

**6. INVENTORY**

Inventory consisted of the following:

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| | | |
|:---|:---|:---|
|  | **September 30,**<br> **2022** | **June 30,**<br> **2022** |
| Raw materials, parts, and components | $90559 | $87478 |
| Finished goods | 172080 | 207052 |
| Miscellaneous supplies | 10007 | 10516 |
|  | $272646 | $305046 |

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**7. PROPERTY, PLANT AND EQUIPMENT, NET**

Property, plant and equipment consisted of the following:

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| | | |
|:---|:---|:---|
|  | **September 30,**<br> **2022** | **June 30,**<br> **2022** |
| Vehicle | $18282 | $19419 |
| Office equipment | 67948 | 72177 |
| Machinery, equipment, and tools | 80829 | 85858 |
| Total | 167059 | 177454 |
| Less: accumulated depreciation | (90321) | (86993) |
| &nbsp;&nbsp;&nbsp;Impairment on equipment | (2703) | (2871) |
| Property, plant and equipment, net | $74035 | $87590 |

---

Depreciation expenses charged to the consolidated statements of income and comprehensive income for the three months ended September 30, 2022 and 2021 were $56,567 and $22,730 respectively.

**8. ADVANCE FROM CUSTOMERS**

Changes in advance from customers as follows:

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| | | |
|:---|:---|:---|
|  | **September 30,**<br>**2022** | **June 30,**<br>**2022** |
| Advance from customers, beginning of the period | $6668713 | $- |
| Customer deposits received during the period |  | 6668713 |
| Refund of customer deposits | (6427802) | - |
| Advance from customers, end of the period | $240911 | $6668713 |

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**9. OTHER PAYABLES**

Other payables consist of the following:

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| | | |
|:---|:---|:---|
|  | **September 30,<br> 2022** | **June 30,<br> 2022** |
| Loans payable | $505179 | $4376863 |
| Other | - | 80 |
| Other payables | $**505179** | $**4376943** |

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Loans payable are unsecured, interest free and due on demand.

**10. AMOUNTS DUE FROM AND DUE TO RELATED PARTIES**

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| | | |
|:---|:---|:---|
|  | **September 30,<br> 2022** | **June 30,<br> 2022** |
| **Amounts due from related parties:** | | |
| Duolun Kangbaier Biotechnology Co. LTD (a) | $1124 | $1194 |
| Panjin Kangying Health Food Co., LTD (a) | 141 | 149 |
| Liaoning Baijiakang Health Technology Co. LTD (a) | 42 | 45 |
| Ms. Xiuzhi Sun (b) |  | 4757546 |
| Ms. Xiuhua Sun (c) | 544336 | 1087722 |
| Mr. Yuewen Sun (d) |  | 970281 |
| Mr. Zengwen Wang (e) |  | 746370 |
| Mr. Mingkai Cao (f) | 4216 | 4479 |
| Total | $549859 | $7567786 |
| **Amounts due to related parties:** |  |  |
| Jilin Kangbaier Biotechnology Co., LTD (a) | $| $298548 |
| Panjin Double Eagle Green Health Food Co. LTD (g) | 107492 | 114180 |
| Panjin Double Eagle Weishi Green Health Food Co. LTD (g) | 101576 | 107897 |
| Mr. Zengwen Wang (e) |  | 620846 |
| Ms. Xiuhua Sun (c) | 47318 | 67173 |
| Ms. Xiuzhi Sun (b) | 3926429 | - |
| Total | $4182815 | $1208644 |

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(a) The companies of the authorized representative of the Company.

(b) The authorized representative of the Company.

(c) Sister
of Ms. Xiuzhi Sun.

(d) Brother
of Ms. Xiuzhi Sun.

(e) Nephew
of Ms. Xiuzhi Sun.

(f) Family
member of Ms. Xiuzhi Sun.

(g) Companies
under the control of the Company's shareholders.

All the above balances are due on demand, interest-free and unsecured. The Company used the funds borrowed from related parties to fund its operations. As of December 31, 2022, $331,762 of amounts due from related parties had been settled with the Company during the months from October to December of 2022.

**11. INCOME TAXES**

The Company is subject to income taxes on an entity basis on income arising in or derived from the tax jurisdiction in which each entity is domiciled.

**PRC**

Under the Enterprise Income Tax ("EIT") Law, which has been effective since January 1, 2008, domestic enterprises and foreign invested enterprises (the "FIEs") are subject to a unified 25% enterprise income tax rate, except for certain entities that are entitled to tax holidays.

For the three months ended September 30, 2022 and 2021, a reconciliation of the income tax expense determined at the statutory income tax rate to the Company's income taxes is as follows:

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| | | |
|:---|:---|:---|
|  | **For the three months ended<br> September 30,** | **For the three months ended<br> September 30,** |
|  | **2022** | **2021** |
| Loss before income taxes | $(15484) | $(27868) |
| PRC preferential income tax rate | 25% | 25% |
| Income tax credit computed at statutory corporate income tax rate | (3871) | (6967) |
| Reconciling items: |  |  |
| Non-deductible expenses | 340 | 1323 |
| Change in valuation allowance | 3531 | 5644 |
| Income tax expense | $- | $- |

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The Company evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. for the three months ended September 30, 2022 and 2021, the Company had no unrecognized tax benefits.

**12.** **CHINA CONTRIBUTION PLAN**

The Company participates in a government-mandated multi-employer defined contribution plan pursuant to which certain retirement, medical and other welfare benefits are provided to employees. Chinese labor regulations require the Company to pay to the local labor bureau a monthly contribution at a stated contribution rate based on the monthly compensation of qualified employees. The relevant local labor bureau is responsible for meeting all retirement benefit obligations; the Company has no further commitments beyond their monthly contributions.

**13.** **CONCENTRATIONS AND CREDIT RISK**

(a) *Concentrations*

In the three months ended September 30, 2022, three customers accounted for over 98.98% of the Company's revenues. In the three months ended September 30, 2021, two customers accounted for 100% of the Company's revenues. No other customer accounts for more than 10% of the Company's revenue in the three months ended September 30, 2022 and 2021.

As of September 30, 2022, one customer accounted for 100% of the Company's accounts receivable. As of June 30, 2022, one customer accounted for 100% of the Company's accounts receivable, respectively. No other customer accounts for more than 10% of the Company's accounts receivable as of September 30, 2022 and June 30, 2022.

As of September 30, 2022, two suppliers each accounted for 87.77% of the Company's accounts payable. As of June 30, 2022, four suppliers each accounted for 88.41% of the Company's accounts payable. No other supplier accounts for over 10% of the Company's accounts payable as of September 30, 2022 and June 30, 2022.

(b) *Credit risk*

Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash. As of September 30, 2022 and June 30, 2022, substantially all of the Company's cash were held by major financial institutions located in the PRC, which management believes are of high credit quality.

For the credit risk related to trade accounts receivable, which are unsecured in nature, the Company performs ongoing credit evaluations of its customers and, if necessary, maintains reserves for potential credit losses. Historically, such losses have been within management's expectations; however, there is the extremely remote chance that all trade receivables may be become uncollectible.

**14.** **COMMITMENTS AND CONTINGENCIES**

*Contingencies*

In the ordinary course of business, the Company may be subject to certain legal proceedings, claims and disputes that arise from the business operations. Although the outcomes of these legal proceedings cannot be predicted, the Company does not believe these actions, in the aggregate, will have a material adverse impact on its financial position, results of operations or liquidity. As of September 30, 2022, the Company had no outstanding lawsuits or claims.

**15.** **SUBSEQUENT EVENT**

On December 30, 2022, Bitmis Corp. ("Bitmis") and Cambell International Holding Limited, and all shareholders of Cambell International Holding Limited immediately prior to the closing (collectively, the " Cambell International Holding Limited Shareholders", each, a "Cambell International Holding Limited Shareholder") entered into a share exchange agreement (the "Share Exchange Agreement"), pursuant to which the Bitmis acquired 100% of the issued and outstanding equity securities of Cambell International Holding Limited in exchange for 9,000,000 shares of preferred shares, and 1,000,000 shares of common stock, par value $0.0001 per share (the "Common Stock") of Bitmis (the "Share Exchange"). As a result, immediately following the closing of the Share Exchange, Cambell International Holding Limited Shareholders collectively control over 90% of the voting power of Bitmis.

**UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL DATA**

On December 30, 2021, Bitmis Corp. ("Bitmis") entered into a definitive Share Exchange Agreement (the "Share Exchange Agreement") with Cambell International Holding Limited ("Cambell"), a British Virgins Island company, and the shareholders of Cambell International Holding Limited (the "Shareholders"). The Share Exchange Agreement is effective on December 30, 2022.

For accounting purposes, the Share Exchange Agreement has been accounted for as a reverse acquisition, and the transactions has been treated as a recapitalization of Cambell, with Cambell t as the accounting acquirer and continuing entities although Bitmis is the legal acquirer. Accordingly, the Company's historical financial statements are those of Cambell immediately following the consummation of the reverse acquisition.

The accompanying unaudited pro forma condensed combined financial information have been prepared to present the balance sheet and statements of operations of Bitmis to indicate how the combined financial statements might have looked like if the acquisition of Cambell and the transactions related to the acquisition had occurred as of the beginning of the period presented.

The unaudited pro forma condensed combined balance sheet as of September 30, 2022 is presented as if we have entered into and closed the Share Exchange Agreement, hence consummation of the reverse acquisition on September 30, 2022.

The unaudited pro forma condensed combined statements of operations for the six months ended March 31, 2021 are presented as if the reverse acquisition consummated at the beginning of the period presented and were carried forward through each of the aforementioned periods presented. The unaudited pro forma condensed combined financial statements of Bitmis were derived from the audited financial statements contained on its April 30, 2021 Form 10-K, and unaudited financial statements contained on its January 31, 2021 and October 31, 2020 Form 10-Q as filed with the Securities and Exchange Commission due to different fiscal year and period end between Bitmis and Cambell. The unaudited pro forma condensed combined financial statements of Bitmis were derived from its books and records.

The unaudited pro forma condensed financial statements of Cambell and its subsidiaries were derived from their books and records and assumed the VIE Agreements consummated on such period.

These unaudited pro forma condensed financial statements are presented for illustrative purposes only and are not intended to be indicative of actual consolidated financial position and consolidated results of operations.

**Bitmis Corp.**

**Unaudited Pro Forma Condensed Combined Balance Sheet as of September 30, 2022**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Bitmis<br> Corp.** | **Consolidated<br> Combined<br> Cambell<br> Limited and<br> Its<br> Subsidiaries** | **Adjustment** |  | **Pro forma<br> Balances** |
| **ASSETS** | | | |  | |
| <u>Current Assets</u> |  |  |  |  |  |
| Cash | $- | $167364 | $- |  | $167364 |
| Accounts receivable |  |  |  |  |  |
| Prepayments |  | 80380 |  |  | 80380 |
| Other receivables |  | 1179050 |  |  | 1179050 |
| Amounts due from related parties |  | 549859 |  |  | 549859 |
| Inventory | - | 272646 | - |  | 272646 |
| Total Current Assets | - | 2249299 | - |  | 2249299 |
| <u>Non-current Assets</u> |  |  |  |  |  |
| Long-term other receivable |  | 587019 |  |  | 587019 |
| Property, plant and equipment, net | - | 74035 | - |  | 74035 |
| Total Non-current Assets | - | 661054 | - |  | 661054 |
| Total Assets | $- | $2910353 | $- |  | $2910353 |
| **LIABILITIES AND DEFICIT** |  |  |  |  |  |
| **LIABIILITIES** |  |  |  |  |  |
| <u>Current Liabilities</u> |  |  |  |  |  |
| Accounts payable | $- | $80823 | $- |  | $80823 |
| Advance from customers |  | 240911 |  |  | 240911 |
| Amounts due to related parties |  | 4182815 |  |  | 4182815 |
| Payroll payable |  | 86 |  |  | 86 |
| Tax payable |  | 8763 |  |  | 8763 |
| Other payables | - | 505179 | - |  | 505179 |
| Total Current Liabilities | - | 5018577 | - |  | 5018577 |
| Total Liabilities | - | 5018577 | - |  | 5018577 |
| **Commitment and contingencies** |  |  |  |  |  |
|  **DEFICIT** |  |  |  |  |  |
| Preferred stock, par value $0.001, 10,000,000 shares authorized, 10,000,000 shares issued and outstanding | 10000 |  |  |  | 1000 |
| Common stock, par value $0.001; 75,000,000 shares authorized, 6,250,750 shares issued and outstanding | 6251 |  | 1000 | <sup>(1)</sup> | 7251 |
| Additional paid-in capital | 56230 |  | (56230) |)(2) |  |
| Ordinary shares |  | 1000000 | (1000000) |)(2) | 1000000 |
| Subscription receivable |  | (1000000) | 1000000 |  | (1000000) |
| Accumulated deficit | (56230) | (2264169) | 56230 | <sup>(1)</sup> | (2264169) |
| Accumulated other comprehensive income | - | 155945 | - |  | 155945 |
| Total Shareholders' deficit | - | (2108224) | - |  | (2108224) |
| Total Liabilities and Deficit | $- | $2910353 | $- |  | $2910353 |

---

**Bitmis Corp.**

**Unaudited Pro Forma Condensed Statement of Operations and Comprehensive (Loss) Income**

**for the Three Months Ended September 30, 2022**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Bitmis<br> Corp.** | **Consolidated<br> Combined<br> Cambell<br> Limited and<br> Its<br> Subsidiaries** | **Adjustments** | **Proforma**<br> **Balance** |
| Revenue | $- | $68035 | $- | $68035 |
| Cost of revenue | - | (64133) | - | (64133) |
| Gross profit |  | 3902 |  | 3902 |
| Operating expenses |  |  |  |  |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | 9350 | 7512 | (9350) | 7512 |
| &nbsp;&nbsp;&nbsp;Selling expense | - | 941 | - | 941 |
| Total operating expenses | 9350 | 76070 | (9350 | 76070 |
| Loss from operations | (9350) | (72168) | 9350 | (72168) |
| Other income (expense): |  |  |  |  |
| Other income (expense) |  | 8148 |  | 8148 |
| Total other income | - | 8148 | - | 8148 |
| Loss before income taxes | (9350) | (64020) | 9350 | (64020) |
| Income tax (expense) benefit | - | - | - | - |
| Net loss | (9350) | (64020) | 9350 | (64020) |
| Foreign currency translation adjustment | - | 129813 | - | 129813 |
| Comprehensive (loss) income | (9350) | 65793 | 9350 | 65793 |

---

**Notes to Unaudited Pro Forma Condensed Financial Statements**

Note 1 – Basis of Presentation

The unaudited pro forma condensed combined balance sheet as of September 30, 2022 and the unaudited pro forma condensed combined statements of operations for the three months ended September 30, 2022, are based on the historical financial statements of Bitmis and Cambell after giving effect of the reverse merger between Bitmis and Cambell on December 30, 2022, and the assumptions, reclassifications and adjustments described in the accompanying notes to the unaudited pro forma condensed combined financial information.

For accounting purpose, the transaction with Cambell was treated as a reserve acquisition, with Bitmis and Cambell as the acquirer and Bitmis as the acquired party.

Note 2 – Adjustments

&nbsp;&nbsp;&nbsp;&nbsp;(1) To
 record an issuance of 1,000,000 of Bitmis's common stock to Cambell's shareholders

&nbsp;&nbsp;&nbsp;&nbsp;(2) To
 adjust the equity of subsidiaries

&nbsp;&nbsp;&nbsp;&nbsp;(3) To
 eliminate the expenses of Bitmis as a result of the elimination of assets and liabilities

## Exhibit 10.1

**Exhibit 10.1**

**SHARE EXCHANGE AGREEMENT**

This Share Exchange Agreement (this "Agreement") is made and entered into this 30th day of December 2022 by and among Bitmis Corp. ("Bitmis" or "Seller"), a company formed under the laws of Nevada, Cambell International Holding Limited, ("Cambell"), a British Virgin Islands company, Cambell's shareholders, (the "Cambell Shareholders") and Ms. Xiaoyan Yuan ("Ms. Xiaoyan"). Cambell and the Cambell Shareholders, shall be sometimes collectively referred to as the "Company" and "Buyers").

**WHEREAS**, the Cambell Shareholders are the owners of record of an aggregate of 10,000,000 Cambell common shares representing 100% of the issued and outstanding shares of Cambell; and

**WHEREAS**, the Cambell Shareholders desire to acquire from Bitmis an aggregate of 1,000,000 shares of Bitmis' Common Stock, par value $0.001 per share (the "Bitmis Shares"), in exchange for 100% of the outstanding shares of Cambell (the "Exchange Shares") pursuant to this Agreement (the "Transaction"); and

**WHEREAS**, the offer and sale of the Bitmis Shares by Bitmis is intended to be exempt from the registration provisions of Section 5 under the Securities Act of 1933, as amended, (the "Securities Act") pursuant to the provisions of Regulation S ("Regulation S") which was adopted by the Securities and Exchange Commission (the "SEC") under the Securities Act; and

**WHEREAS**, for the benfit of and as a condition to the closing of the Transaction, Ms. Xiaoyan has agreed to transfer to the Cambell Shareholders 9,000,000 shares of Bitmis' Series A Preferred Stock, $0.001 par value per share (the "Preferred Shares") owned by her.

**NOW, THEREFORE**, in consideration of the mutual terms, conditions, and other agreements set forth herein, the parties hereto hereby agree as follows:

**<u>ARTICLE I</u>**

**<u>SHARE EXCHANGE AND TRANSFER</u>**

Section 1.01 <u>Share Exchange</u>. Subject to the terms and conditions of this Agreement, at the Closing, the Cambell Shareholders will transfer to Bitmis all of the shares that they hold in Cambell (which constitutes 100% of the equity ownership of Cambell) and, in consideration therefor, Bitmis shall issue an aggregate of 1,000,000 newly issued, fully paid and non-assessable shares of Bitmis, par value $0.001, to the Cambell Shareholders as follows:

---

| | | | |
|:---|:---|:---|:---|
| Cambell Shareholder | % of <br> Ownership <br> Exchanged | Cambell <br> Shares <br> Issued | Bitmis <br> Shares |
| Kidde Holding Limited | 17.81% | 1780000 | 178080 |
| Nascho Holding Limited | 6.00% | 600000 | 60000 |
| Bollen Holding Limited | 3.00% | 300000 | 30000 |
| Randy Holding Limited | 0.90% | 90000 | 9000 |
| Acebest Holding Limited | 0.04% | 3600 | 360 |
| Wolfson Holding Limited | 1.50% | 150000 | 15000 |
| Roman Holding Limited | 3.50% | 350000 | 35000 |
| Howell Holding Limited | 67.26% | 6725600 | 672560 |

---

Section 1.02 <u>Share Transfer</u>. Subject to the terms and conditions of this Agreement, at the Closing, Ms. XIaoyan will transfer to the Cambell Shareholders 9,000,000 Preferred Shares owned by her as follows:

---

| | |
|:---|:---|
| **Cambell Shareholder** | **Preferred Shares Transfered** |
| Kidde Holding Limited | 1602720 |
| Nascho Holding Limited | 540000 |
| Bollen Holding Limited | 270000 |
| Randy Holding Limited | 81000 |
| Acebest Holding Limited | 3240 |
| Wolfson Holding Limited | 135000 |
| Roman Holding Limited | 315000 |
| Howell Holding Limited | 6053040 |

---

**<u>ARTICLE II</u>**

**<u>CLOSING</u>**

Section 2.01 <u>Date and Place of Closing</u>. The closing (the "Closing") of the Transaction contemplated hereby shall be, subject to the satisfaction or waiver of the applicable conditions set forth herein, take place in Panjin, China, at the offices of Cambell (as defined below), or other place as the parties may mutually agree, at 10:00 a.m. (Beijing, China Time) on or before December 30, 2022 ("Closing Date"); provided that the Parties may mutually agree in writing to a later date.

Section 2.02 <u>Deliveries at Closing</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At the Closing, Bitmis shall deliver to each Cambell Shareholder a certificate evidencing the number of
newly issued Bitmis Shares set forth in Section 1.01, above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At or prior to the Closing, each Cambell Shareholder shall deliver to Bitmis all of the shares that they
own in Cambell duly endorsed for transfer to Bitmis together with instruments of transfer, and such other documentation or instruments
as shall be necessary to transfer the Exchange Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) At the Closing, Ms. Xiaoyan shall deliver to each Cambell Shareholder a certificate evidencing the number
of Preferred Shares set forth in Section 1.02 above, duly endorsed for transfer to the each Cambell Shareholder together with instruments
of transfer, and such other documentation or instruments as shall be necessary to transfer the Preferred Shares.

**<u>ARTICLE III</u>**

**<u>REPRESENTATIONS AND WARRANTIES OF BITMIS</u>**

Bitmis hereby represents, warrants, and agrees as of the date of this Agreement and the Closing Date as follows:

Section 3.01 <u>Corporate Organization</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Bitmis is a corporation duly organized, validly existing, and in good standing under the laws of Nevada, and has all requisite corporate power and authority to own its properties and assets and to conduct its business and is duly qualified to do business and in good standing in each jurisdiction in which the nature of the business conducted by it or the ownership or leasing of its properties makes such qualification and being in good standing necessary, except where the failure to be so qualified and in good standing will not have a material adverse effect on the business, operations, properties, assets, condition or results of operation of Bitmis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Copies of the Certificate of Incorporation and Bylaws of Bitmis, with all amendments thereto to the date hereof, have been furnished to Cambell and each of the Cambell Shareholders, and such copies are accurate and complete as of the date hereof. The minute books of Bitmis are current as required by law, contain the minutes of all meetings of the Board of Directors and shareholders of Bitmis from its date of incorporation to the date of this Agreement, and adequately reflect all material actions taken by the Board of Directors and shareholders of Bitmis.

Section 3.02 <u>Capitalization of Bitmis.</u> The authorized capital stock of Bitmis consists of 75,000,000 shares of common stock, par value $0.001 per share. As of the date hereof, Bitmis has 6,250,750 shares of common stock issued and outstanding. All of the issued shares of capital stock of Bitmis have been duly authorized, and are validly issued, fully paid and non-assessable. Ms. Xiaoyan Yuan is the owner of 10,000,000 shares of the Company's Series A Preferred Stock, $0.001 par value per share, representing 90% of the voting rights of the issued and outstanding share capital of the Company.

The parties agree that they have been informed of the issuances of these Bitmis Shares, and that all such issuances of Bitmis Shares pursuant to this Agreement will be in accordance with the provisions of this Agreement. All of the Bitmis Shares to be issued pursuant to this Agreement have been duly authorized, and will be validly issued, fully paid and non-assessable, and no personal liability will attach to the ownership thereof, and in each instance, they will have been issued in accordance with the registration requirements of applicable securities laws or an exemption therefrom. As of the date of this Agreement there are no outstanding options, warrants, agreements, commitments, conversion rights, preemptive rights or other rights to subscribe for, purchase or otherwise acquire any shares of capital stock or any un-issued or treasury shares of capital stock of Bitmis.

Section 3.03 <u>Subsidiaries and Equity Investments</u>. Bitmis has no subsidiaries or equity interest in any corporation, partnership, or joint venture except as provided in this Agreement.

Section 3.04 <u>Authorization and Validity of Agreements</u>. Bitmis has all corporate power and authority to execute and deliver this Agreement, to perform its obligations hereunder, and to consummate the transactions contemplated hereby and upon the execution and delivery by Cambell and the performance of its obligations herein, this Agreement will constitute a legal, valid and binding obligation of Bitmis. The execution and delivery of this Agreement by Bitmis and the consummation by Bitmis of the transactions contemplated hereby have been duly authorized by all necessary corporate action of Bitmis, and no other corporate proceedings on the part of Bitmis are necessary to authorize this Agreement or to consummate the transactions contemplated hereby.

Section 3.05 <u>No Conflict or Violation</u>. The execution, delivery and performance of this Agreement by Bitmis does not and will not violate or conflict with any provision of its Certificate of Incorporation and Bylaws, and does not and will not violate any provision of law, or any order, judgment or decree of any court or other governmental or regulatory authority, nor violate or result in a breach of or constitute (with due notice or lapse of time or both) a default under, or give to any other entity any right of termination, amendment, acceleration or cancellation of any contract, lease, loan agreement, mortgage, security agreement, trust indenture or other agreement or instrument to which Bitmis is a party or by which it is bound or to which any of its properties or assets is subject, nor will it result in the creation or imposition of any lien, charge or encumbrance of any kind whatsoever upon any of the properties or assets of Bitmis, nor will it result in the cancellation, modification, revocation or suspension of any of the licenses, franchises or permits to which Bitmis is bound.

Section 3.06 <u>Consents and Approvals</u>. No consent, waiver, authorization, or approval of any governmental or regulatory authority, domestic or foreign, or of any other person, firm or corporation is required in connection with the execution and delivery of this Agreement by Bitmis or the performance by Bitmis of its obligations hereunder.

Section 3.07 <u>Absence of Certain Changes or Events</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. As of the date of this Agreement, Bitmis does not know or have reason to know of any event, condition, circumstance or prospective development which threatens or may threaten to have a material adverse effect on the assets, properties, operations, prospects, net income or financial condition of Bitmis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Since its inception, there has not been any declaration, setting aside or payment of dividends or distributions with respect to shares of capital stock of Bitmis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Since its inception, there has not been an increase in the compensation payable or to become payable to any director or officer of Bitmis.

Section 3.08 <u>Disclosure</u>. This Agreement does not contain any untrue statement of a material fact or omit any material fact necessary in order to make the statements contained herein and/or therein not misleading.

Section 3.09 <u>Litigation</u>. There is no action, suit, proceeding or investigation pending or threatened against Bitmis that may affect the validity of this Agreement or the right of Bitmis to enter into this Agreement or to consummate the transactions contemplated hereby.

Section 3.10 <u>Securities Laws</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Bitmis has complied in all material respects with applicable United States securities laws, rules, and
regulations, as such laws, rules, and regulations apply to Bitmis and its securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. All shares of capital stock of Bitmis have been issued in accordance with applicable United States securities
laws, rules, and regulations. There are no stop orders in effect with respect to any of Bitmis' securities.

Section 3.11 <u>Tax Returns, Payments and Elections</u>. Bitmis has timely filed all tax returns, statements, reports, declarations, and other forms and documents and has, to date, paid all taxes due.

Section 3.12 <u>'34 Act Reports</u>. None of Bitmis' filings with the SEC contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements therein not misleading, in light of the circumstances in which they were made.

Section 3.13 <u>Survival</u>. Each of the representations and warranties set forth in this Article III shall be deemed represented and made by Bitmis at the Closing as if made at such time.

Section 3.14 <u>Legend</u>. Each certificate representing the Bitmis Shares shall be endorsed with the following legends, in addition to any other legend required to be placed thereon by applicable United States federal or state securities laws:

"THESE SECURITIES ARE BEING OFFERED TO SHAREHOLDERS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("THE SECURITIES ACT") AND WITHOUT REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT IN RELIANCE UPON REGULATION S PROMULGATED UNDER THE SECURITIES ACT."

"TRANSFER OF THESE SECURITIES IS PROHIBITED, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED UNDER THE SECURITIES ACT, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT OR PURSUANT TO AVAILABLE EXEMPTION FROM REGISTRATION. HEDGING TRANSACTIONS MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT."

**<u>ARTICLE IV</u>**

****

<br> **<u>REPRESENTATIONS AND WARRANTIES OF CAMBELL AND EACH CAMBELL SHAREHOLDER</u>**

Cambell and the Cambell Shareholders, severally, represent, warrant, and agree as follows as of the date of this Agreement and the Closing Date:

Section 4.01 <u>Corporate Organization</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Cambell is a corporation incorporated in the British Virgin Islands. It is duly organized, validly existing and in good standing in the British Virgin Islands and has all requisite corporate power and authority to own its properties and assets and to conduct its business and is duly qualified to do business, is in good standing in each jurisdiction wherein the nature of the business conducted by Cambell or the ownership or leasing of its properties makes such qualification and being in good standing necessary, except where the failure to be so qualified and in good standing will not have a material adverse effect on the business, operations, properties, assets, condition or results of operation of Cambell.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Copies of the Articles of Association and the Memorandum of Association of Cambell, with all amendments thereto to the date hereof, have been furnished to Bitmis and such copies are accurate and complete as of the date hereof. The minute books of Cambell are current as required by law, contain the minutes of all meetings of the Boards of Directors and shareholders of Cambell, and adequately reflect all material actions taken by Cambell's Board of Directors and Cambell's shareholders.

Section 4.02 <u>Title to Exchange Shares and Chain of Ownership.</u>

As of the date hereof and on the Closing Date, each Cambell Shareholder represents and warrants that he/she/it has and will have good and marketable title to his/her/its Exchange Shares and that he/she/it is transferring his/her/its Exchange Shares to Bitmis free and clear of any liens, claims or encumbrances. Further, each Cambell Shareholder has and will have the right to transfer his/her/its Exchange Shares without consent of any other person or entity.

Cambell wholly owns Win-win Industrial Development Company Ltd, a British Virgins Island company ("Win-win"); Win-win owns 100% of the equity of Yangtze River (HK) Health Information Consulting Service Co. LTD, a Hong Kong company, ("Yangtze River"), Yangtze River owns 100% of Baijiakang (LiaoNing) Health Information Consulting Service*s* Co., Ltd. ("Baijiakang Consulting") which is a foreign owned entity in the Peoples Republic of China ("Baijiakang Consulting"); Baijiakang Consulting has entered into various agreements with LiaoNing KangBaiEr Biotechnology Development Co., Ltd. ("LiaoNing KangBaiEr") under which it effectively controls LiaoNing KangBaiEr and its wholly owned subsidiaries, Doron KangBaier Biotechnology Co. Ltd. and LiaoNing BaiJiaKang Health Technology Co. Ltd through a series of contracts or variable interest entity arrangements. Each of the above-listed companies is duly organized, validly existing, and in good standing under the laws of their jurisdictions of incorporation, and each has all requisite corporate power and authority to own its properties and assets, and to conduct its business as now conducted, and is duly qualified to do business, is in good standing in each jurisdiction wherein the nature of the business conducted by or the ownership or leasing of its properties makes such qualification and being in good standing necessary, except where the failure to be so qualified and in good standing will not have a material adverse effect on the business, operations, properties, assets, condition or results of operation of any of the companies.

Section 4.03 <u>Authorization and Validity of Agreements</u>. Cambell has all corporate power and authority to execute and deliver this Agreement, to perform its obligations hereunder, and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement by Cambell, and the consummation of the transactions contemplated hereby have been duly authorized by all necessary corporate action, and no other corporate proceedings on the part of Cambell are necessary to authorize this Agreement or to consummate the transactions contemplated hereby. The Cambell Shareholders have approved this Agreement on behalf of Cambell, and no other stockholder approvals are required to consummate the transactions contemplated hereby. The Cambell Shareholders are competent and duly authorized to execute this Agreement and have the power to execute and perform this Agreement. No other proceedings on the part of Cambell or any Cambell Shareholder are necessary to authorize this Agreement or to consummate the transactions contemplated hereby.

Section 4.04 <u>No Conflict or Violation</u>. The execution, delivery and performance of this Agreement by Cambell or any Cambell Shareholder does not and will not violate or conflict with any provision of the constituent documents of Cambell and does not and will not violate any provision of law, or any order, judgment or decree of any court or other governmental or regulatory authority, nor violate, result in a breach of or constitute (with due notice or lapse of time or both) a default under or give to any other entity any right of termination, amendment, acceleration or cancellation of any contract, lease, loan agreement, mortgage, security agreement, trust indenture or other agreement or instrument to which Cambell or any Cambell Shareholder is a party or by which any of them is bound or to which any of their respective properties or assets is subject, nor result in the creation or imposition of any lien, charge or encumbrance of any kind whatsoever upon any of the properties or assets of Cambell or any Cambell Shareholder, nor result in the cancellation, modification, revocation or suspension of any of the licenses, franchises or permits to which Cambell or any Cambell Shareholder is bound.

Section 4.05 <u>Investment Representations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The Bitmis Shares will be acquired hereunder solely for the account of the Cambell Shareholders, for investment. Each Cambell Shareholder understands that the Bitmis Shares must be held indefinitely unless such Bitmis Shares are resold in accordance with the provisions of Regulation S, are subsequently registered under the Securities Act or an exemption from registration is available. Each Cambell Shareholder understands and is able to bear any economic risks associated with such investment in the Bitmis Shares. Each Cambell Shareholder has had full access to all the information he/she/it considers necessary or appropriate to make an informed investment decision with respect to the Bitmis Shares to be acquired under this Agreement. Each Cambell Shareholder further has had an opportunity to ask questions and receive answers from Bitmis' directors regarding Bitmis and to obtain additional information (to the extent Bitmis'sdirectors possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to such shareholder or to which such shareholder had access. Each Cambell Shareholder is at the time of the offer and execution of this Agreement, domiciled outside the United States (a "Non-U.S. Shareholder") and/or is an "accredited investor" (as such term is defined in Rule 501(a) of Regulation D promulgated by the SEC under the Securities Act). Each Cambell Shareholder understands that Bitmis is under no obligation to register the Bitmis Shares under the Securities Act, or to assist such Cambell Shareholder in complying with the Securities Act or the securities laws of any state of the United States or of any foreign jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. No Non-U.S. Shareholder, nor any affiliate of any Non-U.S. Shareholder, nor any person acting on behalf of any Non-U.S. Shareholder or on behalf of any such affiliate, has engaged or will engage in any activity undertaken for the purpose of, or that reasonably could be expected to have the effect of, conditioning the markets in the United States for the Bitmis Shares, including, but not limited to, effecting any sale or short sale of securities through any Non-U.S. Shareholder or any affiliate of any Non-U.S. Shareholder prior to the expiration of any restricted period contained in Regulation S promulgated under the Securities Act (any such activity being defined herein as a "Directed Selling Effort"). To the best knowledge of the Non-U.S. Shareholders, this Agreement and the transactions contemplated herein are not part of a plan or scheme to evade the registration provisions of the Securities Act, and the Bitmis Shares are being acquired for investment purposes by the Non-U.S. Shareholder. The Non-U.S. Shareholders agree that all offers and sales of Bitmis Shares from the date hereof and through the expiration of any restricted period set forth in Rule 903 of Regulation S (as the same may be amended from time to time hereafter) shall not be made to U.S. Persons or for the account or benefit of U.S. Persons and shall otherwise be made in compliance with the provisions of Regulation S and any other applicable provisions of the Securities Act. Neither any Non-U.S. Shareholder nor the representatives of any Non-U.S. Shareholder have conducted any Directed Selling Effort as that term is used and defined in Rule 902 of Regulation S and no Non-U.S. Shareholder nor any representative of any Non-U.S. Shareholder will engage in any such Directed Selling Effort within the United States through the expiration of any restricted period set forth in Rule 903 of Regulation S.

Section 4.06 <u>Not a Broker-Dealer</u>. Each of the Cambell Shareholders represents that he/she/it is not a registered representative under the Financial Industry Regulatory Authority ("FINRA"), a member of FINRA or associated or Affiliated (as defined below) with any member of FINRA, nor a broker-dealer registered with the SEC under the Exchange Act of 1934 ("Exchange Act") or engaged in a business that would require it to be so registered, nor is he/she/it an Affiliate of a broker-dealer or any Person engaged in a business that would require him/her/it to be registered as a broker-dealer. In the event any Cambell Shareholder is a member of FINRA, or associated or Affiliated with a member of FINRA, such Cambell Shareholder agrees, if requested by FINRA, to sign a lock-up, the form of which shall be satisfactory to FINRA with respect to the Bitmis Shares. "Affiliate" means, with respect to any specified Person: (i) if such Person is an individual, the spouse of that Person and, if deceased or disabled, his heirs, executors or legal representatives, if applicable, or any trusts for the benefit of such individual or such individual's spouse and/or lineal descendants, or (ii) otherwise, another Person that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with, the Person specified. As used in this definition, "control" shall mean the possession, directly or indirectly, of the power to cause the direction of the management and policies of a Person, whether through the ownership of voting securities or by contract or other written instrument. "Person" shall mean an individual, entity, corporation, partnership, association, limited liability company, limited liability partnership, joint-stock company, trust or unincorporated organization.

Section 4.07 <u>Brokers' Fees</u>. Each Cambell Shareholder represents that he/she/it has no liability to pay any fees or commissions or other consideration to any broker, finder or agent with respect to the transactions contemplated by this Agreement.

Section 4.08 <u>Disclosure</u>. This Agreement, the schedules hereto and any certificate attached hereto or delivered in accordance with the terms hereof by or on behalf of Cambell or a Cambell Shareholder in connection with the transactions contemplated by this Agreement, when taken together, do not contain any untrue statement of a material fact or omit any material fact necessary in order to make the statements contained herein and/or therein not misleading.

Section 4.9 <u>Not an Underwriter</u>. Each of the Cambell Shareholders represents that he/she/it is not an underwriter of Bitmis Shares, nor is he/she/it an affiliate of an underwriter of Bitmis Shares.

Section 4.10 <u>No Advice from Bitmis</u>. Each Cambell Shareholder acknowledges that he/she/it has received, and fully and carefully reviewed and understands, copies of Bitmis' filings with the SEC periodically (the "SEC Filings"), either in hard copy or electronically through the SEC's EDGAR system at http://www.sec.gov. Each Cambell Shareholder also acknowledges that he/she/it has had the opportunity to review this Agreement, the exhibits hereto and the transactions contemplated by this Agreement with his/her/its own legal counsel and investment and tax advisors. Except for any statements or representations of Bitmis made in this Agreement, each Cambell Shareholder is relying solely on such counsel and advisors and not on any statements or representations of Bitmis or any of its representatives or agents for legal, tax or investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction. Each Cambell Shareholder has consulted, to the extent deemed appropriate by him/her/it, with his/her/its own advisers as to the financial, tax, legal and related matters concerning an investment in theBitmis Shares and on that basis believes that his/her/its investment in the BITMIS Shares is suitable and appropriate for him/her/it.

Section 4.11 <u>Regulation S Exemption</u>. Each Cambell Shareholder understands that the Bitmis Shares are being offered and sold to him/her/it in reliance on an exemption from the registration requirements of United States federal and state securities laws under Regulation S promulgated under the Securities Act, as amended, and that Bitmis is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of each Cambell Shareholder set forth herein in order to determine the applicability of such exemptions and the suitability of each Cambell Shareholder to acquire Bitmis Shares. In this regard, each Cambell Shareholder represents, warrants and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i) He/she/it is not a U.S. Person or an affiliate (as defined in Rule 501(b) under the Securities Act) of Bitmis and he/she/it is not acquiring Bitmis Shares for the account or benefit of a U.S. Person. A "U.S. Person" means any one of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) any natural person resident in the United States of America;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) any partnership, limited liability company, corporation or other entity organized or incorporated under the laws of the United States of America;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) any estate of which any executor or administrator is a U.S. Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) any trust of which any trustee is a U.S. Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) any agency or branch of a foreign entity located in the United States of America;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated or (if an individual) resident in the United States of America; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) any partnership, company, corporation or other entity if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) organized or incorporated under the laws of any foreign jurisdiction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) formed by a U.S. Person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a) under the Securities Act) who are not natural persons, estates or trusts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) At the time of the origination of contact concerning this Agreement and the date of the execution and delivery of this Agreement, each Cambell Shareholder was outside of the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) He/she/it will not, during the period commencing on the date of issuance of the Bitmis Shares and ending on the six-month anniversary of such date, or such shorter period as may be permitted by Regulation S or other applicable securities law (the "Restricted Period"), offer, sell, pledge or otherwise transfer Bitmis Shares in the United States, or to a U.S. Person for the account or for the benefit of a U.S. Person or otherwise in a manner that is not in compliance with Regulation S.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Each Cambell Shareholder will, after expiration of the Restricted Period, offer, sell, pledge or otherwise transfer Bitmis Shares only pursuant to registration under the Securities Act or an available exemption therefrom and in accordance with all applicable state and foreign securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) He/she/it was not in the United States engaged in, and prior to the expiration of the Restricted Period will not engage in, any short selling of or any hedging transaction with respect to Bitmis Shares, including without limitation, any put, call or other option transaction, option writing or equity swap.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Neither the Cambell Shareholder, nor any person acting on his/her/its behalf, has engaged, nor will engage, in any directed selling efforts to a U.S. Person with respect to Bitmis Shares, and the Cambell Shareholder, and any person acting on his/her/its behalf, have complied and will comply with the "offering restrictions" requirements of Regulation S under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) The transactions contemplated by this Agreement have not been pre-arranged with a buyer located in the United States or with a U.S. Person, and are not part of a plan or scheme to evade the registration requirements of the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) Neither the Cambell Shareholder nor any person acting on his/her/its behalf, has undertaken or carried out any activity for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States, its territories or possessions, for any of the Bitmis Shares. Each Cambell Shareholder agrees not to cause any advertisement of Bitmis Shares to be published in any newspaper or periodical or posted in any public place and not to issue any circular relating to Bitmis Shares, except such advertisements that include the statements required by Regulation S under the Securities Act, and only offshore and not in the U.S. or its territories, and only in compliance with any local applicable securities laws.

Section 4.12 <u>No Advertisements.</u> Each Cambell Shareholder is not purchasing Bitmis Shares as a result of or subsequent to any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio or via the Internet, or presented at any seminar or meeting, and he/she/it is not aware of any public advertisement or general solicitation in respect of Bitmis or its securities.

Section 4.13 <u>Legend</u>. Each Cambell Shareholder acknowledges and agrees that the Bitmis Shares shall bear restrictive legend (the "Legend"), as set forth above in Section 3.14, prohibiting the offer, sale, pledge or transfer of the securities, except (i) pursuant to an effective registration statement filed under the Securities Act, (ii) in accordance with the applicable provisions of Regulation S, promulgated under the Securities Act, (iii) pursuant to an exemption from registration provided by Rule 144 under the Securities Act (if available), and (iv) pursuant to any other exemption from the registration requirements of the Securities Act or for estate planning purposes (subject to any escrow restrictions).

Section 4.14 <u>Economic Considerations</u>. Each Cambell Shareholder is not relying on Bitmis or its affiliates or agents with respect to economic considerations involved in this investment. Each Cambell Shareholder has relied solely on his/her/its own advisors.

Section 4.15 <u>Compliance with Laws</u>. Any resale of Bitmis Shares during the "distribution compliance period" as defined in Rule 902(f) to Regulation S shall only be made in compliance with exemptions from registration afforded by Regulation S. Further, any such sale of Bitmis Shares in any jurisdiction outside of the United States will be made in compliance with the securities laws of such jurisdiction. The Cambell Shareholders will not offer to sell or sell Bitmis Shares in any jurisdiction unless they obtain all required consents, if any. Each Cambell Shareholder acknowledges that he/she/it is familiar with Rule 144 ("Rule 144") under the Securities Act and has been advised that Rule 144 permits resales only under certain circumstances. Each Cambell Shareholder understands that to the extent that Rule 144 is not available, he/she/it will be unable to sell any Bitmis Shares without either registration under the Securities Act or the existence of another exemption from such registration requirement.

Section 4.16 <u>Receipt of Information</u>. Each Cambell Shareholder has received all documents, records, books and other information pertaining to his/her/its investment in Bitmis that has been requested by him/her/it.

Section 4.17 <u>Information Available</u>. Each Cambell Shareholder acknowledges he/she/it has availed himself/herself/itself of full access to Bitmis' public reports filed with the SEC, which reports can be retrieved from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.

Section 4.18 <u>No Reliance</u>. Other than as set forth herein, each Cambell Shareholder is not relying upon any other information, representation or warranty by Bitmis or any officer, director, stockholder, agent or representative of Bitmis in determining to invest in Bitmis Shares. Each Cambell Shareholder has consulted, to the extent deemed appropriate by him/her/it, with his/her/its own advisers as to the financial, tax, legal and related matters concerning an investment in Bitmis Shares and on that basis believes that the investment in Bitmis Shares is suitable and appropriate for him/her/it.

Section 4.19 <u>No Governmental Review</u>. Each Cambell Shareholder is aware that no federal or state agency has (i) made any finding or determination as to the fairness of this investment, (ii) made any recommendation or endorsement of Bitmis Shares or Bitmis, or (iii) guaranteed or insured any investment in Bitmis Shares or any investment made by Bitmis.

Section 4.20 <u>Potential Loss of Investment</u>. Each Cambell Shareholder understands that an investment in Bitmis Shares is a speculative investment which involves a high degree of risk and the potential loss of his/her/its entire investment. Each Cambell Shareholder has considered carefully and understands the risks associated with an investment in Bitmis Shares as set forth in Bitmis' SEC Filings.

Section 4.21 <u>Financial Statements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) On or before the Closing Date, Bitmis shall have been furnished with the following financial statements ("Financial Statements"):

ADD

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each set of Financial Statements (including, in each case, any related notes thereto) was prepared in accordance with US GAAP ("GAAP"), applied on a consistent basis throughout the periods involved (except as may be indicated in the notes thereto) and each fairly presents in all material respects the financial position of Cambell and its consolidated subsidiaries at the respective dates thereof and the results of its operations and cash flows for the periods indicated, except that the unaudited interim financial statements were or are subject to normal adjustments which were not or are not expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As of the date of all balance sheets included in each set of financial statements, except as and to the extent reflected or reserved against therein, Cambell had no liabilities or obligations (absolute or contingent) which should be reflected in the balance sheets or the notes thereto prepared in accordance with GAAP, and all assets reflected therein are properly reported and present fairly in all material respects the value of the assets of Cambell, in accordance with GAAP. All statements of operations, stockholders' equity and cash flows included in the Cambell financial statements reflect fairly in all material respects the information required to be set forth therein by GAAP.

Section 4.22 <u>Survival</u>. Each of the representations and warranties set forth in this Article IV shall be deemed represented and made by Cambell and each Cambell Shareholder at the Closing as if made at such time.

**<u>ARTICLE V</u>**

**<u>REPRESENTATIONS AND WARRANTIES OF MS. XIAOYAN</u>**

Ms. Xiaoyan represents, warrants, and agrees as follows as of the date of this Agreement and the Closing Date:

Section 5.01 <u>Title to Exchange Shares and Chain of Ownership.</u>

As of the date hereof and on the Closing Date, Ms. Xiaoyan represents and warrants that she has and will have good and marketable title to the Preferred Shares and that she is transferring the Preferred Shares to the Cambell Shareholders free and clear of any liens, claims or encumbrances. Further, Ms. Xiaoyan has and will have the right to transfer the Preferred Shares without consent of any other person or entity.

Section 5.02 <u>Limited Representations and Warranties</u>. Ms. Xiaoyan hereby represents and warrants to the Cambell Shareholders only the following (i) Ms. Xiaoyan is the lawful owner of the preferred Shares; (ii) that the Preferred Shares are duly authorized, validly issued and outstanding, fully aid and non-assessable and (iii) the Preferred Shares are free and clear of any and all claims, liens, pledges, options, prior assignments, encumbrances or rights of third parties.

**<u>ARTICLE VI</u>**

 **<u><br> COVENANTS</u>**

Section 6.01 <u>Certain Changes and Conduct of Business</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. From and after the date of this Agreement and until the Closing Date, Bitmis and Cambell shall conduct their businesses solely in the ordinary course consistent with past practices and in a manner consistent with all representations, warranties or covenants contained herein, and without the prior written consent of the other party, neither Bitmis nor Cambell will, except as required or permitted pursuant to the terms hereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. make any material change in the conduct of its businesses
and/or operations or enter into any transaction other than in the ordinary course of business consistent with past practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. make any change in its Articles of Association or Memorandum of Association, issue any additional shares of capital stock or equity securities or grant any option, warrant or right to acquire any capital stock or equity securities or issue any security convertible into or exchangeable for its capital stock or alter in any material term of any of its outstanding securities or make any change in its outstanding shares of capital stock or its capitalization, whether by reason of a reclassification, recapitalization, stock split or combination, exchange or readjustment of shares, stock dividend or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. A. incur, assume or guarantee any indebtedness for borrowed
money, issue any notes, bonds, debentures or other corporate securities or grant any option, warrant or right to purchase any thereof,
except pursuant to transactions in the ordinary course of business consistent with past practices; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. issue any securities convertible or exchangeable for debt or equity securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. make any sale, assignment, transfer, abandonment or other conveyance of any of its assets or any part thereof, except pursuant to transactions in the ordinary course of business consistent with past practice;

v. subject any of its assets, or any part thereof, to any lien or suffer such to be imposed other than such liens as may arise in the ordinary course of business consistent with past practices by operation of law which will not have a material adverse effect on its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi. acquire any assets, raw materials or properties, or enter into any other transaction, other than in the ordinary course of business consistent with past practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii. enter into any new (or amend any existing) employee benefit plan, program or arrangement or any new (or amend any existing) employment, severance or consulting agreement, grant any general increase in the compensation of officers or employees (including any such increase pursuant to any bonus, pension, profit-sharing or other plan or commitment) or grant any increase in the compensation payable or to become payable to any employee, except in accordance with pre-existing contractual provisions or consistent with past practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;viii. make or commit to make any material capital expenditures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ix. pay, loan or advance any amount to, or sell, transfer or lease any properties or assets to, or enter into any agreement or arrangement with, any of its affiliates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;x. guarantee any indebtedness for borrowed money or any other obligation of any other person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xi. fail to keep in full force and effect insurance comparable in amount and scope to coverage maintained by it (or on behalf of it) on the date hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xii. take any other action that would cause any of the representations and warranties made by it in this Agreement not to remain true and correct in all material respects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xiii. make any material loan, advance or capital contribution to or investment in any person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xiv. make any material change in any method of accounting or accounting principle, method, estimate or practice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xv. settle, release or forgive any claim or litigation or waive any right; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xvi. commit itself to do any of the foregoing.

Section 6.02 <u>Access to Properties and Records</u>. Cambell shall afford to Bitmis' accountants, counsel and authorized representatives, and Bitmis shall afford to Cambell's accountants, counsel and authorized representatives full access during normal business hours throughout the period prior to the Closing Date (or the earlier termination of this Agreement) to all of such party's properties, books, contracts, commitments and records and, during such period, shall furnish promptly to the requesting party all other information concerning the other party's business, properties and personnel as the requesting party may reasonably request, provided that no investigation or receipt of information pursuant to this Section 5.02 shall affect any representation or warranty of or the conditions to the obligations of any party.

Section 6.03 <u>Negotiations</u>. From and after the date hereof until the earlier of the Closing or the termination of this Agreement, no party to this Agreement nor its officers or directors (subject to such director's fiduciary duties) nor anyone acting on behalf of any party or other persons shall, directly or indirectly, encourage, solicit, engage in discussions or negotiations with or provide any information to, any person, firm or other entity or group concerning any merger, sale of substantial assets, purchase or sale of shares of capital stock or similar transaction involving any party. A party shall promptly communicate to any other party any inquiries or communications concerning any such transaction which they may receive or of which they may become aware.

Section 6.04 <u>Consents and Approvals</u>. The parties shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. use their reasonable commercial efforts to obtain all necessary consents, waivers, authorizations and approvals of all governmental and regulatory authorities, domestic and foreign, and of all other persons, firms or corporations required in connection with the execution, delivery and performance by them of this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. diligently assist and cooperate with each
other party in preparing and filing all documents required to be submitted by a party to any governmental or regulatory authority, domestic
or foreign, in connection with such transactions and in obtaining any governmental consents, waivers, authorizations or approvals which
may be required to be obtained connection in with such transactions.

Section 6.05 <u>Public Announcement</u>. Unless otherwise required by applicable law, the parties hereto shall consult with each other before issuing any press release or otherwise making any public statements with respect to this Agreement and shall not issue any such press release or make any such public statement prior to such consultation.

Section 6.06 <u>Stock Issuance</u>. From and after the date of this Agreement until the Closing Date, neither Bitmis nor Cambell shall issue any additional shares of its capital stock.

**<u>ARTICLE VII</u>**

**<u>CONDITIONS TO OBLIGATIONS OF BITMIS</u>**

The obligations of Bitmis to consummate the transactions contemplated by this Agreement are subject to the fulfillment, at or before the Closing Date, of the following conditions, any one or more of which may be waived by Bitmis in its sole discretion:

Section 7.01 <u>Representations and Warranties of Cambell and the Cambell Shareholders.</u> All representations and warranties made by Cambell and the Cambell Shareholders in this Agreement shall be true and correct on and as of the Closing Date as if again made by them as of such date.

Section 7.02 <u>Agreements and Covenants</u>. Cambell and the Cambell Shareholders shall have performed and complied in all material respects to all agreements and covenants required by this Agreement to be performed or complied with by it on or prior to the Closing Date.

Section 7.03 <u>Consents and Approvals</u>. Consents, waivers, authorizations and approvals of any governmental or regulatory authority, domestic or foreign, and of any other person, firm or corporation, required in connection with the execution, delivery and performance of this Agreement shall be in full force and effect on the Closing Date.

Section 7.04 <u>No Violation of Orders</u>. No preliminary or permanent injunction or other order issued by any court or governmental or regulatory authority, domestic or foreign, nor any statute, rule, regulation, decree or executive order promulgated or enacted by any government or governmental or regulatory authority, which declares this Agreement invalid in any respect or prevents the consummation of the transactions contemplated hereby, or which materially and adversely affects the assets, properties, operations, prospects, net income or financial condition of Cambell shall be in effect; and no action or proceeding before any court or governmental or regulatory authority, domestic or foreign, shall have been instituted or threatened by any government or governmental or regulatory authority, domestic or foreign, or by any other person or entity which seeks to prevent or delay the consummation of the transactions contemplated by this Agreement or which challenges the validity or enforceability of this Agreement.

Section 7.05 <u>Due Diligence Review</u>. Bitmis shall have completed its due diligence review of Cambell and shall be reasonably satisfied with the results of such review.

Section 7.06 <u>Completion of Audits</u>. Audits of Cambell and the subsidiaries for the periods required for the filing of the Form 8-K shall have been completed.

**<u>ARTICLE VIII</u>**

**<u>CONDITIONS TO OBLIGATIONS OF CAMBELL</u>**

**<u>AND THE CAMBELL SHAREHOLDERS</u>**

The obligations of Cambell and the Cambell Shareholders to consummate the transactions contemplated by this Agreement are subject to the fulfillment, at or before the Closing Date, of the following conditions, any one or more of which may be waived by Cambell in its sole discretion:

Section 8.01 <u>Representations and Warranties of Bitmis.</u> All representations and warranties made by Bitmis in this Agreement shall be true and correct on and as of the Closing Date as if again made by Bitmis as of such date.

Section 8.02 <u>Agreements and Covenants</u>. Bitmis shall have performed and complied in all material respects to all agreements and covenants required by this Agreement to be performed or complied with by it on or prior to the Closing Date.

Section 8.03 <u>Consents and Approvals</u>. Consents, waivers, authorizations and approvals of any governmental or regulatory authority, domestic or foreign, and of any other person, firm or corporation, required in connection with the execution, delivery and performance of this Agreement shall be in full force and effect on the Closing Date.

Section 8.04 <u>No Violation of Orders</u>. No preliminary or permanent injunction or other order issued by any court or governmental or regulatory authority, domestic or foreign, nor any statute, rule, regulation, decree or executive order promulgated or enacted by any government or governmental or regulatory authority, which declares this Agreement invalid in any respect or prevents the consummation of the transactions contemplated hereby, or which materially and adversely affects the assets, properties, operations, prospects, net income or financial condition of Bitmis shall be in effect; and no action or proceeding before any court or governmental or regulatory authority, domestic or foreign, shall have been instituted or threatened by any government or governmental or regulatory authority, domestic or foreign, or by any other person, or entity which seeks to prevent or delay the consummation of the transactions contemplated by this Agreement or which challenges the validity or enforceability of this Agreement.

Section 8.06 <u>Transfer of Preferred Shares.</u> Ms. Xiaoyan shall have delivered to each Cambell Shareholder a certificate evidencing the number of Preferred Shares set forth in Section 1.02 above, duly endorsed for transfer to the each Cambell Shareholder together with instruments of transfer, and such other documentation or instruments as shall be necessary to transfer the Preferred Shares.

**ARTICLE IX**

**TERMINATION AND ABANDONMENT**

Section 9.01 <u>Methods of Termination</u>. This Agreement may be terminated, and the transactions contemplated hereby may be abandoned at any time before the Closing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. By the mutual written consent of Bitmis, Ms. Xiaoyan Yuan and each of the Cambell Shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. By the Cambell Shareholders, upon a material breach of any representation, warranty, covenant or agreement on the part of Bitmis set forth in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. By Bitmis upon a material breach of any representation, warranty, covenant or agreement on the part of any of the Cambell Shareholders set forth in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. By any of the Cambell Shareholders or Bitmis if the Closing shall not have been consummated before sixty (60) days after the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. By any of the Cambell Shareholders or Bitmis if a court of competent jurisdiction or governmental, regulatory or administrative agency or commission shall have issued an order, decree or ruling or taken any other action (which order, decree or ruling the parties hereto shall use its best efforts to lift), which permanently restrains, enjoins or otherwise prohibits the transactions contemplated by this Agreement.

Section 9.02 <u>Procedure Upon Termination</u>. In the event of termination and abandonment of this Agreement by any party pursuant to Section 9.01, written notice thereof shall forthwith be given to the other parties and this Agreement shall terminate and the transactions contemplated hereby shall be abandoned, without further action. If this Agreement is terminated as provided herein, no party to this Agreement shall have any liability or further obligation to any other party to this Agreement; provided, however, that no termination of this Agreement pursuant to this Article VIII shall relieve any party of liability for a breach of any provision of this Agreement occurring before such termination.

**<u>ARTICLE X</u>**

**<u>MISCELLANEOUS</u>**

Section 10.01 <u>Governing Law</u>. This Agreement shall be governed by and construed in all respects by the internal laws of Nevada (except for the proper application of the United States federal securities laws), without giving effect to any choice of law or conflict of law provision or rule (whether of the British Virgin Islands, the Hong Kong Special Administrative Region, the Peoples Republic of China or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than Nevada.

Section 10.02 <u>Notices, Etc.</u> Unless otherwise specified within a provision of this Agreement all notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by email or facsimile (provided confirmation of transmission is electronically or mechanically generated and kept on file by the sending party); (iii) ten business days after deposit with the Post Office in Nevada, the British Virgin Islands, Hong Kong or the PRC, as applicable, when sent by registered or certified mail; or (iv) one business day after deposit with a recognized overnight delivery service, in each case properly addressed to the party to receive the same. The addresses, email addresses and facsimile numbers for such communications shall be:

If to Bitmis:

Bitmis Corp.

4-2-11,Jian guomen Diplomatic Apartment,

Chaoyang District,

Beijing ,China

Attention: Yuan Xiaoyan

Email: <u>agba@agba-smes.com</u>

With a copy to:

Schlueter & Associates, P.C.

5655 South Yosemite Street, Suite 350

Greenwood Village, Colorado 80111

Attention: Henry F. Schlueter, Esq.

Email: hfs@schlueterintl.com

Facsimile: +1-303-648-5663

If to Cambell:

Vistra Corporate Services Centre

Wickhams Cay II

Road Town

Tortola VG1110,

British Virgin Islands

Attention: Ms. Sun Xiuzhi

Email: Inkangbaier@163.com

If to Kidde Holding Limited:

Vistra Corporate Services Centre

Wickhams Cay II

Road Town

Tortola VG1110

British Virgin Islands

Attention: Ms. Sun Xiuzhi

Email: bvi@vistra.com

If to Acebest Holding Limited:

Vistra Corporate Services Centre

Wickhams Cay II

Road Town

Tortola VG1110

British Virgin Islands

Attention: Ms. Sun Tianzhu

Email: Inkangbaier@163.com

If to Howell Holding Limited:

Vistra Corporate Services Centre

Wickhams Cay II

Road Town

Tortola VG1110

British Virgin Islands

Attention: Mr. Sun Xiuzhi

Email: Inkangbaier@163.com

If to Nascho Holdings Limited:

Vistra Corporate Services Centre

Wickhams Cay II

Road Town

Tortola VG1110

British Virgin Islands

Attention:Ms. Jing Li

Email: Inkangbaier@163.com

If to Bollen Holding Limited:

Vistra Corporate Services Centre

Wickhams Cay II

Road Town

Tortola VG1110

British Virgin Islands

Attention: Ms.Li Ying

Email: Inkangbaier@163.com

If to Randy Holding Limited:

Vistra Corporate Services Centre

Wickhams Cay II

Road Town

Tortola VG1110

British Virgin Islands

Attention:Ms. Xu Lina

Email: Inkangbaier@163.com

If to Wolfson Holding Limited:

Vistra Corporate Services Centre

Wickhams Cay II

Road Town

Tortola VG1110

British Virgin Islands

Attention: Ms.Li Jie

Email: 840128387@qq.com

If to Roman Holding Limited:

Vistra Corporate Services Centre

Wickhams Cay II

Road Town

Tortola VG1110

British Virgin Islands

Attention: Ms.Yuan Xiaoyan

Email: <u>agba@agba-smes.com</u>

If to Ms. Xiaoyan Yuan:

4-2-11,Jian guomen Diplomatic Apartment,

Chaoyang District,

Beijing ,China

Email: <u>agba@agba-smes.com</u>

With copies to:

Schlueter & Associates, P.C.

5655 South Yosemite, Suite 350

Greenwood Village, Colorado 80111

Attention: Henry F. Schlueter, Esq.

Email: hfs@schlueterintl.com

Facsimile: +1-303-648-5663

Section 10.03 <u>Amendments and Waivers</u>. No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed by all of the parties hereto. No waiver by any party of any default, misrepresentation or breach of warranty or covenant hereunder, whether intentional or not, shall be deemed to extend to any prior or subsequent default, misrepresentation or breach of warranty or covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence.

Section 10.04 <u>Expenses</u>. Each party shall be responsible for their own costs and expenses.

Section 10.05 <u>Section and Other Headings</u>. The section and other headings contained in this Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation of this Agreement.

Section 10.06 <u>Counterparts</u>. This Agreement may be executed simultaneously in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

Section 10.07 <u>Severability</u>. If any provision of this Agreement is held by final judgment of a court of competent jurisdiction to be invalid, illegal or unenforceable, such invalid, illegal or unenforceable provision shall be severed from the remainder of this Agreement, and the remainder of this Agreement shall be enforced. In addition, the invalid, illegal or unenforceable provision shall be deemed to be automatically modified, and, as so modified, to be included in this Agreement, such modification being made to the minimum extent necessary to render the provision valid, legal and enforceable. Notwithstanding the foregoing, however, if the severed or modified provision concerns all or a portion of the essential consideration to be delivered under this Agreement by one party to the other, the remaining provisions of this Agreement shall also be modified to the extent necessary to equitably adjust the parties' respective rights and obligations hereunder.

Section 10.08 <u>Telecopy Execution and Delivery</u>. A facsimile, telecopy, email or other reproduction of this Agreement may be executed by one or more parties hereto, and an executed copy of this Agreement may be delivered by one or more parties hereto by facsimile transmission, by e-mail delivery of a ".pdf" format data file or similar electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute an original of this Agreement as well as any facsimile, telecopy or other reproduction hereof.

Section 10.09 <u>Entire Agreement</u>. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and thereof. All proposals, negotiations and representations (if any) made prior, and with reference to the subject matter of this Agreement, are merged herein. This Agreement has been negotiated by the parties and their respective counsel and will be interpreted fairly in accordance with its terms and without any strict construction in favor of or against any party. Neither Bitmisn or any Cambell Shareholder shall be bound by any oral agreement or representation, irrespective of when made.

Section 10.10 <u>Survival of Representations, Warranties and Covenants</u>. All of the representations and warranties made herein shall survive the execution and delivery of this Agreement, any investigation by or on behalf of Cambell or any Cambell Shareholder or acceptance of Bitmis Shares and payment therefor and shall survive until such time as Bitmis Shares have been sold or redeemed in full in cash. All covenants and indemnities made herein shall survive in perpetuity, unless otherwise provided in this Agreement.

Section 10.11 <u>Remedies Cumulative</u>. No failure or delay on the part of Bitmis, or any Cambell Shareholder in exercising any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The remedies provided for herein are cumulative and are not exclusive of any remedies that may be available to Bitmis, or any Cambell Shareholder at law, in equity or otherwise.

Section 10.12 <u>Further Assurances</u>. Each of the parties shall execute such documents and perform such further acts (including, without limitation, obtaining any consents, exemptions, authorizations or other actions by, or giving any notices to, or making any filings with, any governmental authority) as may be reasonably required or desirable to carry out or to perform the provisions of this Agreement.

Section 10.13 <u>Disputes</u>. Any dispute, controversy, difference or claim arising out of or relating to this Agreement, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to this Agreement shall be referred to and finally resolved by arbitration administered by the Beijing Arbitration Commission ("BAC") under the UNCITRAL Arbitration Rules in force when the notice of arbitration is submitted, as modified by the BAK Procedures for Administration of International Arbitration. The BAC shall administer any arbitration, which shall also be the appointing authority. The place of arbitration shall be in Beijing at the BAC, and the law of this arbitration clause shall be the law of the Peoples Republic of China. All matters relating to the Agreement shall be determined under Nevada law as provided above in Section 9.01. The number of arbitrators shall be one, and the arbitration proceedings shall be conducted in the English language. The parties to this Agreement expressly agree that the arbitrator shall award costs and attorneys' fees in connection with any such arbitration proceeding in accordance with the provisions of the UNCITRAL Arbitration Rules or as the arbitrator shall determine in his or her sole and absolute discretion.

Section 10.14 <u>Disclosure and Waiver of Conflicts</u>. The parties acknowledge and agree that: (i) representatives of Schlueter & Associates, P.C., the attorneys that prepared this Agreement (the "Attorney"), have acted as legal counsel to Ms. Xiaoyan Yuan and the Cambell Shareholders, (ii) Bitmis acknowledges it has been advised by the Attorney that Bitmis should have its own legal counsel to advise it with respect to this Agreement and the transactions that are contemplated by this Agreement, (iii) Bitmis has decided even after being advised by the Attorney that it should each have its own separate legal counsel to not seek its own separate legal counsel, and (iv) Bitmis understands that the Attorney is not representing Bitmis.

Section 10.15 <u>Public Announcements</u>. Bitmis shall promptly, but no later than four (4) business days following the effective date of this Agreement, issue a press release disclosing the transactions contemplated hereby. Bitmis shall also file with the SEC a Form 8-K describing the material terms of the transactions contemplated hereby as soon as practicable following the Closing Date but in no event more than four (4) business days following the Closing Date. Prior to the Closing Date, Bitmis, Ms. Xiaoyan Yuan and the Cambell Shareholders shall consult with each other in issuing the Form 8-K, the press release and any other press releases or otherwise making public statements or filings and other communications with the SEC or any regulatory agency or stock market or trading facility with respect to the transactions contemplated hereby and no party shall issue any such press release or otherwise make any such public statement, filings or other communications without the prior written consent of the other parties, which consent shall not be unreasonably withheld or delayed, except that no prior consent shall be required if such disclosure is required by law, in which case the disclosing party shall provide the other party with prior notice of no less than three (3) calendar days, of such public statement, filing or other communication and shall incorporate into such public statement, filing or other communication the reasonable comments of the other party.

(*The rest of this page intentionally left blank)*

IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the day and year first above written.

---

| | |
|:---|:---|
| **BITMIS CORP.** | **BITMIS CORP.** |
| By: | /s/ Yuan Xiaoyan |
|  | Yuan Xiaoyan, CEO |
|  | /s/ **MS. XIAOYAN YUAN** |
|  | Ms. Xiaoyan Yuan, an individual |
| **CAMBELL INTERNATIONAL HOLDING LIMITED SHAREHOLDERS:** | **CAMBELL INTERNATIONAL HOLDING LIMITED SHAREHOLDERS:** |
| **KIDDE HOLDING LIMITED** | **KIDDE HOLDING LIMITED** |
| By: | /s/ Ms. Sun Xiuzhi |
|  | Sun Xiuzhi, Director |
| **ACEBEST HOLDING LIMITED** | **ACEBEST HOLDING LIMITED** |
| By: | /s/ Mr. Sun Tianzhu |
|  | Sun Tianzhu, Director |
| **HOWELL HOLDING LIMITED** | **HOWELL HOLDING LIMITED** |
| By: | /s/ Sun Xiuzhi |
|  | Sun Xiuzhi, Director |
| **NASCHO HOLDING LIMITED** | **NASCHO HOLDING LIMITED** |
| By: | /s/ Ms. Jing Li |
|  | Jing Li, Director |
| **BOLLEN HOLDING LIMITED** | **BOLLEN HOLDING LIMITED** |
| By: | /s/ Ms. Li Ying |
|  | Li Ying, Director |
| **RANDY HOLDING LIMITED** | **RANDY HOLDING LIMITED** |
| By: | /s/ Ms. Xu Lina |
|  | Xu Lina, Director |
| **WOLFSON HOLDING LIMITED** | **WOLFSON HOLDING LIMITED** |
| By: | /s/ Ms. Li Jie |
|  | Li Jie, Director |
| **ROMAN HOLDING LIMITED** | **ROMAN HOLDING LIMITED** |
| By: | /s/ Ms. Yuan Xiaoyan |
|  | Yuan, Director |

---

## Exhibit 10.2

**Exhibit 10.2**

**独家咨询和服务协议**

**Exclusive Consultant & Service Agreement**

本独家咨询和服务协议(下称"本协议")由以下双方(下称"协议双方")于2022年11月27日在中国盘锦市签订:

Exclusive and Service Agreement (refer herein as "Agreement), two parties (refer herein as "Parties) Signing date: November 27, 2022 in Panjin city.

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司

Party A : Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

乙方: 辽宁康拜尔生物科技开发有限公司

Party B:Liaoning Kangbaier Biotechnology Development Co., Ltd.

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

**<u>鉴于:</u>**

1. 甲方是一家在中华人民共和国境内合法成立并有效存续的外商投资企业, 拥有咨询和服务的资源;

Party A is a foreign-invested enterprise legally established and validly existing within the territory of the People's Republic of China, and has consulting and service resources;

2. 乙方是一家在中国境内注册成立的有限责任公司;

Party B is a limited liability company incorporated in China;

3. 甲方同意向乙方提供咨询和相关服务, 乙方同意接受甲方提供的咨询和服务。

Party A agrees to provide consulting and related services to Party B, and Party B agrees to accept the consulting and services provided by Party A.

**<u>据此, 双方经过友好协商, 本着平等互利的原则, 达成如下协议以资遵守:</u>**

<u>Accordingly, the two parties have reached an agreement to comply with the following terms and conditions through the principle of equality and mutual benefit:</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.** **咨询和服务: 独占和排他的权益** 

**Consultation and services: exclusive and exclusive rights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 在本协议期间, 甲方同意按本协议的条件作为乙方的独家的咨询和服务提供者向乙方提供有关咨询和服务(具体内容参见附件1)。

During the period of this agreement, Party A agrees to provide Party B with relevant advice and services as Party B's exclusive consulting and service provider in accordance with the terms of this agreement (see Annex 1 for details).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 乙方同意在本协议有效期内接受甲方提供的咨询和服务。考虑到甲方所提供的咨询和服务的价值以及双方的良好的合作关系, 乙方进一步同意, 除非经甲方事先书面同意, 在本协议期间, 乙方不接受任何第三者就本协议所涉及的业务范围提供的咨询和服务。

Party B agrees to accept the consultation and services provided by Party A during the validity period of this agreement. Taking into account the value of the consulting and services provided by Party A and the good cooperative relationship between the two parties, Party B further agrees that, unless Party A agrees in writing in advance, during the period of this agreement, Party B will not accept any third party's involvement in this agreement Consulting and services provided by the business scope.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 对所有因履行本协议而产生的任何权利、所有权、权益和知识产权(包括但不限于著作权、专利权、技术秘密、商业机密及其他), 无论是由甲方自行开发、由乙方基于甲方的知识产权或甲方基于乙方的知识产权开发的, 甲方均享有独占和排他的权利和权益, 乙方不得向甲方主张任何权利、所有权、权益和知识产权。

For all rights, ownership, rights, and intellectual property rights (including but not limited to copyrights, patent rights, technical secrets, trade secrets, and others) arising from the performance of this agreement, whether developed by Party A or by Party B based on A Party A's intellectual property rights or those developed by Party A based on Party B's intellectual property rights, Party A enjoys exclusive and exclusive rights and rights, and Party B shall not claim any rights, ownership, rights, and intellectual property rights against Party A.

但若开发是甲方基于乙方的知识产权进行的, 则乙方须保证该知识产权不存在任何瑕疵, 否则造成甲方损失的, 应由乙方承担。如甲方由此承担向任何第三人的赔偿责任, 在作出该等赔偿后, 甲方有权就其全部损失向乙方进行追偿。

However, if the development is carried out by Party A based on Party B's intellectual property rights, Party B must ensure that there are no defects in the intellectual property rights, otherwise Party B shall be responsible for losses caused to Party A. If Party A therefore assumes the liability for compensation to any third party, after making such compensation, Party A has the right to recover all its losses from Party B.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 考虑到双方的良好合作关系, 乙方承诺如其欲与其他企业进行任何业务合作, 须征得甲方同意, 在同等条件下, 甲方或其关联公司有优先合作权。

Taking into account the good cooperative relationship between the two parties, Party B promises that if it wants to conduct any business cooperation with other enterprises, it must obtain the consent of Party A. Under the same conditions, Party A or its affiliates have the priority to cooperate.

**2.** **咨询和服务费用(下称"服务费")的计算和支付** 

**Payment of consulting and service fees (hereinafter referred to as "service fees")**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 协议双方同意，对于每一有利润产生的财务季度，乙方应按本协议附件2所列方式确定和支付服务费。

Both parties agree that for each financial quarter where profits are generated, Party B shall determine and pay the service fee in accordance with the method listed in Annex 2 of this agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 若乙方未能依照本协议之规定支付服务费和其他费用, 就拖欠的数额, 乙方应向甲方另行支付每日万分之五的违约金。

If Party B fails to pay the service fees and other expenses in accordance with the provisions of this agreement, Party B shall pay Party A a daily penalty of 5% of the default for the amount in arrears.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 甲方有权, 在其自行承担费用的前提下, 指派其雇员或中国或其他国家的注册会计师(简称"甲方授权代表")对乙方的账目进行核查以便审核服务费的计算方法和数额。为此, 乙方应向甲方授权代表提供甲方授权代表所要求的文件, 账目, 记录, 数据等, 以便甲方授权代表审计乙方的账目并确定服务费的数额。除非有非常重大错误, 服务费的数额应以甲方授权代表所确定的数额为准。

Party A has the right to appoint its employees or a certified public accountant in China or other countries (referred to as "Party A's Authorized Representative") to verify Party B's accounts at its own expense, in order to verify the calculation method and amount of service fees. To this end, Party B shall provide the authorized representative of Party A with the documents, accounts, records, data, etc. required by the authorized representative of Party A, so that the authorized representative of Party A can audit Party B's accounts and determine the amount of service fees. Unless there is a very serious error, the amount of the service fee shall be the amount determined by the authorized representative of Party A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 除非双方另行协商一致, 乙方根据本协议向甲方支付的服务费应不经任何扣减或抵销（如银行手续费等）。

Unless the parties agree otherwise, the service fee paid by Party B to Party A under this agreement shall not be deducted or offset (such as bank handling fees, etc.).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 此外, 乙方在支付服务费的同时还应向甲方支付其为提供本协议项下的咨询和服务而发生的实际支出, 包括但不限于各项差旅费, 交通费, 印刷费和邮资等。

In addition, Party B shall pay to Party A the actual expenses incurred in providing the consultation and services under this agreement, including but not limited to various travel expenses, transportation expenses, printing fees and postage while paying the service fees.

3. **陈述和保证 Statement and Commitment** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 甲方在此陈述和保证如下: Party A statement and Commitment

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1 甲方为按照中国法律合法注册并有效存续的一家公司;

Party A is a company legally registered and validly existing in accordance with Chinese laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.2 甲方在其公司权力和营业范围之内履行本协议; 已经过必要的公司授权, 并已取得第三方和政府部门的同意及批准, 不违反对其有约束力或有影响的法律或合同限制;

Party A shall perform this agreement within its company's power and business scope; it has been authorized by the necessary company, and has obtained the consent and approval of third parties and government departments, and does not violate any laws or contractual restrictions that are binding or have an impact on it

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.3 本协议一经签署即应构成对甲方合法、有效、有约束力、执行力的法律文件。

Upon signing this agreement shall constitute a legal, effective, binding and enforceable legal document for Party A

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 乙方在此陈述和保证如下: Party B Statement and Commitment

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.1 乙方是按照中国法律合法注册并有效存续的一家公司;

Party A is a company legally registered and validly existing in accordance with Chinese laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.2 乙方在其公司权力和营业范围之内签署并履行本协议, 已经过必要的公司授权, 并已取得第三方或政府部门的同意及批准, 不违反对其具有约束力或有影响的法律或合同限制;

Party B has signed and performed this agreement within its company's power and business scope, has obtained the necessary company authorization, and has obtained the consent and approval of a third party or government department, and does not violate any binding or impact on it. Legal or contractual restrictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.3 本协议一经签署即构成对乙方合法、有效、有约束力、执行力的法律文件。

Upon signing this agreement constitutes a legal, effective, binding, and enforceable legal document for Party B

**4.** **保密条款 Confidential Terms** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 甲方及乙方同意对了解或接触到的机密资料和信息(下称"保密信息"。资料和信息的提供方在提供资料和信息时, 应明确以书面方式告知为保密信息。), 尽力采取各种合理的保密措施予以保密; 非经保密信息提供方事先书面同意, 不得向任何第三方披露、给予或转让该等保密信息(包括保密信息接受方与第三方合并、被兼并、被第三方直接或间接控制)。一旦本协议终止, 甲方及乙方应将载有保密信息的任何文件、资料或软件, 归还给保密信息的原所有人或提供方, 或经原所有人或提供方同意后自行予以销毁, 包括从任何有关记忆装置中删除任何保密信息, 并且不得继续使用这些保密信息。甲方及乙方应当采取必要措施将保密信息仅披露给有必要知悉的乙方职员、代理人或专业顾问, 并促使该等乙方职员、代理人或专业顾问遵守本协议项下的保密义务。甲方与乙方、乙方职员、代理人或专业顾问应签署具体的保密协议以兹各方遵照执行。

Party A and Party B agree to do their best to the confidential materials and information that they have learned or come into contact with (hereinafter referred to as "confidential information". When providing materials and information, the provider of materials and information should clearly inform in writing that they are confidential information.), Adopt all kinds of reasonable confidentiality measures to keep it confidential; without the prior written consent of the confidential information provider, such confidential information shall not be disclosed, given or transferred to any third party (including the merger of the confidential information recipient with the third party, being merged, or being subject to the third party). Three parties directly or indirectly control). Once this agreement is terminated, Party A and Party B shall return any documents, materials or software containing confidential information to the original owner or provider of the confidential information, or destroy it by themselves with the consent of the original owner or provider, including Delete any confidential information from any relevant memory device, and shall not continue to use such confidential information. Party A and Party B shall take necessary measures to disclose confidential information only to Party B's employees, agents or professional consultants who need to know, and urge such Party B's employees, agents or professional consultants to comply with the confidentiality obligations under this agreement. Party A and Party B, Party B's staff, agents or professional consultants shall sign a specific confidentiality agreement to compliance with.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 上述限制不适用于: Above terms not apply to

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.1 在披露时已成为公众一般可取得的资料;

Information that has become generally available to the public at the time of disclosure

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.2 并非因甲方或乙方的过错在披露后已成为公众一般可取得的资料;

It is not because of the fault of Party A or Party B that the information has become generally available to the public after the disclosure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.3 甲方或乙方可以证明在披露前其已经掌握, 并且不是从其他方直接或间接取得的资料;

Party A or Party B can prove that they have information before the disclosure, and that they have not obtained information directly or indirectly from other parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.4 甲方或乙方依照法律要求, 有义务向有关政府部门、证券监管部门、证券交易所、股票交易机构等披露, 或甲方或乙方因其正常经营所需, 向其直接法律顾问和财务顾问披露上述保密信息。

Party A or Party B is obliged to disclose to relevant government departments, securities regulatory authorities, stock exchanges, stock trading institutions, etc., in accordance with legal requirements, or Party A or Party B, due to its normal business needs, to its direct legal counsel and Financial advisors disclose the above confidential information

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 协议双方同意, 不论本协议是否变更、解除或终止, 本条款将持续有效。

The parties to the agreement agree that this clause will continue to be effective regardless of whether this agreement is changed, cancelled or terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.** **赔偿 Compensation** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 除本协议另有规定外, 如果乙方未全部履行或暂停履行其在本协议的义务, 而且在接到对方的通知起三十日内未纠正上述行为, 或者其陈述与保证不真实的, 则构成违约。

Except as otherwise provided in this agreement, if Party B fails to perform or suspend the performance of its obligations under this agreement, and fails to correct the above behavior within 30 days of receiving the notification from the other party, or if its statements and guarantees are not true, then Constitutes a breach of contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 若本协议任一方违反本协议或其在本协议中所作出的任何陈述、保证, 守约方可以书面形式通知违约方要求其在收到通知书十日内纠正违约行为, 采取相应措施有效及时地避免损害结果的发生, 并继续履行本协议。若发生损害, 违约方应对守约方作出补偿, 以使得守约方获得合同履行时应得的所有权益。

If any party to this agreement violates this agreement or any statement or guarantee made in this agreement, the observant party may notify the breaching party in writing and request it to correct the breach within ten days of receiving the notice, and take corresponding measures, effective and timely To avoid the occurrence of damage results, and continue to perform this agreement. In the event of damage, the breaching party shall compensate the observant party so that the observant party can obtain all the rights and interests that it deserves when the contract is performed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 如出于任何一方违反本协议, 致使另一方承担任何费用、责任或蒙受任何损失(包括但不限于公司的利润损失), 违约方应就上述任何费用、责任或损失(包括但不限于因违约而支付或损失的利息以及律师费)赔偿守约方。违约方向守约方支付的补偿金总额应当与因该违约行为产生的损失相同, 上述补偿包括守约方因履约而应当获得的利益, 但该补偿不得超过协议双方的合理预期。

If any party violates this agreement and causes the other party to bear any costs, liabilities or suffer any losses (including but not limited to the company's loss of profits), the breaching party shall pay for any of the above expenses, liabilities or losses (including but not limited to the cause). The interest paid or lost due to breach of contract and attorney fees) compensate the non-compliant party. The total amount of compensation paid by the breaching party to the observing party shall be the same as the loss caused by the breach. The above compensation includes the benefits that the observing party should obtain due to the performance of the contract, but the compensation shall not exceed the reasonable expectations of the parties to the agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 若因乙方不按照甲方的指示, 或因不当使用甲方的知识产权或不当技术操作而引致任何人为此提出索赔, 乙方应承担全部责任。若乙方发现任何人未经合法授权而使用甲方的知识产权, 乙方应立即通知甲方并配合甲方所采取的任何行动。

If Party B fails to follow Party A's instructions, or due to improper use of Party A's intellectual property rights or improper technical operations, if anyone makes a claim for this, Party B shall bear full responsibility. If Party B finds that anyone is using Party A's intellectual property rights without legal authorization, Party B shall immediately notify Party A and cooperate with any actions taken by Party A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 若协议双方皆违反本协议, 应按各自违约的程度来确定各自应当支付的补偿金额。

If both parties to the agreement violate this agreement, the amount of compensation to be paid by each shall be determined according to the degree of each breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.** **生效、履行及有效期** 

**Effectiveness, performance and validity period**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 本协议于文首标明的日期签署并同时生效。

This agreement is signed on the date indicated at the beginning of the text and becomes effective at the same time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 除非甲方提前解除本协议, 否则本协议有效期限为十年, 自本协议生效之日起起算。本协议期满前, 若甲方提出要求, 则双方应根据甲方的要求延长本协议的期限, 延长的有效期应由甲方决定，并依甲方要求另行签订独家咨询和服务协议或继续履行本协议。

Unless Party A terminates this agreement in advance, the validity period of this agreement is ten years, starting from the date this agreement takes effect. Before the expiration of this agreement, if Party A makes a request, both parties shall extend the term of this agreement according to Party A's request. The extended validity period shall be determined by Party A, and shall sign another exclusive consultation and service agreement or continue to perform according to Party A's request. this agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.** **终止 Termination** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 在本协议有效期内, 如乙方无故提前终止本协议, 则应当赔偿由此给甲方造成的全部损失, 支付已经完成服务的相关服务费。

During the validity period of this agreement, if Party B terminates this agreement early without reason, it shall compensate Party A for all losses caused thereby and pay the relevant service fees for the completed services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 双方协商一致可终止本协议。

Both parties agree to terminate this agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 在本协议终止后, 协议双方在第4条和第5条项下的权利和义务将继续有效。

After the termination of this agreement, the rights and obligations of the parties to the agreement under Articles 4 and 5 will continue to be valid

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.** **争议的解决 Dispute** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 在协议双方就本协议项下条款的解释和履行发生争议时, 协议双方应善意地协商解决该争议。协商不成, 任何一方均可将有关争议提交中国国际经济贸易仲裁委员会按照其届时有效的仲裁规则仲裁解决。仲裁地点为北京, 仲裁使用的语言为中文。仲裁裁决应是终局性的, 对协议双方均有拘束力。本条的规定不受本协议的终止或解除的影响。

When there is a dispute between the parties to the agreement on the interpretation and performance of the terms under this agreement, the parties to the agreement shall negotiate in good faith to resolve the dispute. If the negotiation fails, either party can submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The place of arbitration shall be Beijing, and the language of arbitration shall be Chinese. The arbitration award shall be final and binding on both parties to the agreement. The provisions of this article are not affected by the termination or cancellation of this agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 除协议双方发生争议的事项外, 协议双方仍应当本着善意的原则按照本协议的规定继续履行各自义务。

Except for matters in dispute between the parties to the agreement, the parties to the agreement shall continue to perform their respective obligations in accordance with the provisions of this agreement in good faith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.** **不可抗力Force Majeure** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 "不可抗力事件"是指超出了一方所能合理控制的范围, 在受影响的一方加以合理的注意之下仍不可避免的任何事件, 其中包括但不限于, 政府行为、自然力、火灾、爆炸、风暴、洪水泛滥、地震、潮汐、闪电、战争、疫情、流感（包括2019年冠状病毒疫情）检疫。但是, 资信、资金或融资不足不得被视为是超出了一方所能合理控制的事项。受"不可抗力事件"影响而寻求免除本协议项下履行责任的一方应尽快将该等免除责任事宜通知另一方, 并告之其完成履行所需要采取的步骤。

"Force majeure event" refers to any event beyond the reasonable control of a party and still unavoidable under the reasonable attention of the affected party, including but not limited to government actions, natural forces, fires, explosions, storms , Flooding, earthquake, tide, lightning, war or epidemic, pandemic (including the COVID-19 pandemic) quarantine. However, insufficient credit, funds or financing shall not be regarded as matters beyond the reasonable control of one party. A party seeking to be exempted from performance under this agreement due to a "force majeure event" shall notify the other party as soon as possible of the exemption, and inform it of the steps required to complete the performance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 当本协议的履行因前述定义中的"不可抗力"而被延迟或受到阻碍时, 受到不可抗力影响的一方在被延迟或受阻碍的范围内不需为此承担本协议项下的任何责任。受到不可抗力影响的一方应采取适当的措施减少或消除"不可抗力"的影响, 并应努力恢复因"不可抗力"而被延迟或受阻碍的义务的履行。一旦不可抗力事件消除, 协议双方同意以最大努力恢复协议项下的履行。

When the performance of this agreement is delayed or hindered by the aforementioned definition of "force majeure", the party affected by the force majeure does not need to bear any responsibility under this agreement within the scope of the delay or hindrance. The party affected by force majeure shall take appropriate measures to reduce or eliminate the effects of "force majeure" and shall strive to resume the performance of obligations that have been delayed or hindered due to "force majeure". Once the force majeure event is eliminated, the parties to the agreement agree to use their best efforts to resume performance under the agreement.

---

| | |
|:---|:---|
| **10** | **通知 Notice** |

---

协议双方为履行本协议项下的权利、义务所发出的通知, 都应以书面做成, 并以专人递送、挂号邮寄、邮资预付邮寄、认可的速递服务、或图文传真的形式发送到有关一方或协议双方下列的地址。

The notices issued by the parties to the agreement to perform their rights and obligations under this agreement shall be made in writing and sent to the relevant parties in the form of personal delivery, registered mail, postage prepaid mail, approved courier service, or graphic fax. The following addresses of one party or both parties to the agreement

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司

Party A : Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

电话：13998785999

Phone:13998785999

收件人:王增文

Recipient: Wang Zengwen

乙方: 辽宁康拜尔生物科技开发有限公司

Party B:Liaoning Kangbaier Biotechnology Development Co., Ltd.

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

电话：15842767931

Phone:15842767931

收件人:孙秀芝

Recipient: Sun Xiuzhi

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.** **协议转让 Assignment** 

乙方不得将其在本协议项下所享有的权利和承担的义务转让给任何第三方, 除非得到甲方事先书面同意。甲方可以不经乙方同意将其在本协议项下的权利和义务转让给其关联企业, 但应当将上述转让通知乙方。

Party B shall not transfer its rights and obligations under this agreement to any third party, unless Party A's prior written consent is obtained. Party A may transfer its rights and obligations under this agreement to its affiliates without Party B's consent, but Party B shall notify Party B of the above transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.** **协议的分割性Severability of Agreement** 

各方在此确认本协议为各方在平等互利的基础之上达成的公平合理的约定。若本协议项下的任何条款与有关法律不一致而无效或无法强制执行, 则该条款仅在有关法律管辖范围之内无效或无强制执行力, 而不得影响本协议其他条款的法律效力。

The parties hereby confirm that this agreement is a fair and reasonable agreement reached by the parties on the basis of equality and mutual benefit. If any clause under this agreement is inconsistent with the relevant law and is invalid or unenforceable, the clause shall only be invalid or unenforceable within the jurisdiction of the relevant law, and shall not affect the legal validity of other provisions of this agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.** **协议的修改、补充 Amendment** 

协议双方应以书面协议方式对本协议做出修改和补充。经过协议双方适当签字的有关本协议的修改和补充是本协议的组成部分, 具有与本协议同等的法律效力。

The parties to the agreement shall modify and supplement this agreement in a written agreement. Modifications and supplements to this agreement that have been properly signed by both parties are an integral part of this agreement and have the same legal effect as this agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.** **管辖法律 Jurisdiction** 

本协议的签署、有效性、履行和解释, 以及争议的解决受中国法律管辖, 依中国法律解释。

The signing, validity, performance and interpretation of this agreement, as well as the settlement of disputes, are governed by Chinese laws and interpreted in accordance with Chinese laws

有鉴于此, 协议双方经其授权的代表于文首所述日期签署了本协议, 以昭信守。

In view of this, both parties to the agreement signed this agreement on the date mentioned at the beginning of the text by their authorized representatives, in order to keep it true.

[此页无正文, 为《独家咨询和服务协议》签署页]

Signature Page Only

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司

Party A : Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd

（印章）

授权代表: <u>_________________</u>

<u>Authorized party:</u>

乙方: 辽宁康拜尔生物科技开发有限公司

Party B:Liaoning Kangbaier Biotechnology Development Co., Ltd.

（印章）

授权代表: <u>_________________</u>

<u>Authorized Party:</u>

**附件1: Attachment**

**咨询和服务内容列表**

**Consultation and service content list**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. 提供业务相关软件的开发与研究服务。

Provide business-related software development and research services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. 提供业务相关的技术服务、应用及实施，包括但不限于设计、安装、测试全部系统。

Provide business-related technical services, applications and implementation, including but not limited to design, installation, and testing of all systems

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. 提供电脑网络设备的日常维护支持、升级、维护、监控和故障解决以及其他技术服务。

Provide daily maintenance support, upgrades, maintenance, monitoring and troubleshooting of computer network equipment, and other technical services.。

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. 提供人员岗前，在职，技术培训服务。

Provide staff pre-job, on-the-job, technical training services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. 提供技术开发和技术转让服务。

Provide technology development and technology transfer services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. 提供公共关系服务。

Provide Public Relations services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. 提供市场研究、咨询服务。（不包括中国法律禁止外商投资企业从事的市场调查业务。

Provide Market speculation, research, consultant service. (Not include market research business that foreign invested enterprises are prohibited to engage in by Chinese law)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. 提供制定中短期市场发展，市场计划服务。

Provide short and long term market development, market planning services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. 提供与业务合规性有关的咨询服务。

Provide business related consultation services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. 提供与市场宣传、会员活动有关的组织、策划服务。

Provide market propaganda, members activities and related organizing and planning services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. 提供知识产权许可。

Provide Intellectual property permit

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. 提供设备和租赁。

Provide equipment and rental service

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. 提供业务经营相关的管理顾问服务及其他业务、技术咨询服务。

Provide business related management consultation services and related business and tech support

**附件2: Attachment two**

**服务费的计算和支付办法**

**Payment**

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| | |
|:---|:---|
| 一. | 本协议项下的服务费按照乙方在相应年度税前利润扣除乙方在该年度的上一年度的亏损（如有）、于该年度发生的必要的成本、费用、税费及提取依法必须计提的法定公积金等之后的剩余金额。甲方有权考虑下述因素并通过向乙方出具服务费账单或其他书面方式确定服务费的金额及对服务费进行调整，而无需乙方同意：(a)甲方提供的技术难度以及提供的咨询和其他服务的复杂程度；(b)甲方技术人员提供该等技术服务、咨询及其他服务所需的时间；(c)甲方提供的技术服务、咨询和其他服务的具体内容和商业价值；(d)相同种类服务的市场价格；(e)乙方的经营状况和乙方发展需求情况。上述服务费应于甲方向乙方发出付款指示后，以汇款或双方认可的其它方式划入甲方指定的银行帐户，甲方可不时更改该等付款指示。双方同意，上述服务费的支付原则上不应使任何一方当年经营发生困难，为上述目的，且在实现上述原则的限度内，甲方有权同意乙方延期付款，以避免乙方的任何财务困难；甲方亦有权对服务费作出其认为合理的任何其他调整，但应提前书面通知乙方。 |

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The service fee under this agreement shall be accrued according to Party B's profit before tax in the corresponding year after deducting Party B's losses in the previous year (if any), necessary costs, fees, taxes, and withdrawals incurred in that year. The remaining amount after the statutory provident fund, etc. Party A has the right to consider the following factors and determine the amount of service fee and adjust the service fee by issuing a service fee bill to Party B or other written methods, without Party B's consent: (a) The technical difficulty provided by Party A and the consultation provided And the complexity of other services; (b) the time required for Party A's technical personnel to provide such technical services, consulting and other services; (c) the specific content and commercial value of the technical services, consulting and other services provided by Party A; (d) The market price of the same type of service; (e) Party B's business conditions and Party B's development needs. The above service fees shall be transferred to the bank account designated by Party A by remittance or other methods approved by both parties after A has issued a payment instruction to Party B. Party A may change such payment instructions from time to time. Both parties agree that, in principle, the payment of the above service fees should not cause any party's business difficulties during the year. For the above purpose, and within the limits of achieving the above principles, Party A has the right to agree to Party B's postponement of payment to avoid any financial difficulties of Party B; Party A also has the right to make any other adjustments to the service fee that it deems reasonable, but it shall notify Party B in advance in writing

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| | |
|:---|:---|
| 二． | 乙方应于每个财政年度（下称"前财政年度"）结束后的120日内，向甲方提供乙方在前财政年度经审计的合并财务报表，该财务报表应当经由甲方批准的独立注册会计师审计，以及向甲方提供计算该年服务费所需的一切财务及其他资料；甲方在收到乙方提供的前述资料后书面确定该年服务费，并有权在确定该年服务费后的任意时间，向乙方发出书面付款指示。乙方应按照书面付款指示所载的付款期限或在书面付款指示未载明付款期限的情形下、在收到书面付款指示后30日内向甲方支付付款指示中列明的服务费和其他费用（如有）。若乙方未能依照本协议之规定按时足额支付服务费和其他费用（如有），甲方有权要求乙方按照拖欠金额向甲方另行支付年利率为10%的违约利息。 |

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Party B shall provide Party A with the audited consolidated financial statements of Party B in the previous fiscal year within 120 days after the end of each fiscal year (hereinafter referred to as the "previous fiscal year"). The financial statements shall be independently approved by Party A. Audited by a certified public accountant, and provide Party A with all the financial and other information required to calculate the service fee for the year; Party A shall determine the service fee for the year in writing after receiving the aforementioned information provided by Party B, and has the right to determine the service fee for the year At any time thereafter, send a written payment instruction to Party B. Party B shall pay to Party A the service fees and other fees specified in the payment instruction within 30 days after receiving the written payment instruction in accordance with the payment deadline set forth in the written payment instruction or if the written payment instruction does not specify the payment deadline (If any). If Party B fails to pay the service fees and other fees (if any) in full and on time in accordance with the provisions of this agreement, Party A has the right to require Party B to pay Party A a default interest of 10% per annum based on the arrears.

三. 如果甲方认为由于某种原因致使本条中的约定的服务价格确定机制不能适用而需作调整, 乙方应在甲方提出调整收费的书面要求之日后十个工作日内积极并诚信地与甲方进行协商, 以确定新的收费标准或机制。若乙方在收到上述调整通知后未在十个工作日内答复, 则视为默认该等服务费用的调整。应乙方要求, 甲方也应与乙方协商调整服务费用。

If Party A believes that due to some reason the agreed service price determination mechanism in this Article is not applicable and needs to be adjusted, Party B shall actively and honestly communicate with Party A within ten working days after Party A's written request for fee adjustments is made. Negotiations to determine new charging standards or mechanisms. If Party B does not reply within ten working days after receiving the above adjustment notice, it shall be deemed to have tacitly adjusted the service fee. At the request of Party B, Party A shall also negotiate with Party B to adjust the service fee.

## Exhibit 10.3

**Exhibit 10.3**

**业务经营协议**

Business Operation Agreement

本业务经营协议(下称"本协议")由下列各方(下称"协议各方")于2022 年 11月 27日在中国盘锦市签订:

This business operation agreement (hereinafter referred to as the "Agreement") was signed by the following parties (hereinafter referred to as the "Parties to the Agreement") on November 27, 2022 in Panjin, China:

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司（"辽宁佰迦康"）

Party A: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd. ("Baijiakang Liaoning")

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

乙方: 辽宁康拜尔生物科技开发有限公司("康拜尔生物")

Party B: Liaoning Kangbaier Biotechnology Development Co., Ltd. ("Kangbaier Biotechnology")

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

丙方

Party C:

孙秀芝，身份证号：211321195609273844

Sun Xiu Zhi , ID No.211321195609273844

地址: 辽宁省盘锦市兴隆台区创新街商东社区鹤翔路53-2-2-201

Address:53-2-2-201, Hexiang Road, Shangdong Community, Xininnovation Street, Xinglongtai District, Panjin City, Liaoning Province

李静，身份证号：210711197902204028

Li Jing , ID No.210711197902204028

地址:辽宁省盘锦市兴隆台区振兴街设计院社区56-2-301

Address: 56-2-301, Zhenxing Street Design Institute Community, Xinglongtai District, Panjin City, Liaoning Province

李莹，身份证号：21092119811107216X

Li Ying , ID No.21092119811107216X

地址:辽宁省阜新蒙古族自治县卧凤沟乡七家子村七家子南地44号

Address:No. 44 Qizi Nandi, Qizi Village, Wufenggou Township, Fuxin Mongolian Autonomous County, Liaoning Province

苑晓燕，身份证号：130634198811023583

Yuan Xiao Yan , ID No.130634198811023583

地址:河北省保定市曲阳县灵山镇横河口村39号

Address:39 Henghekou Village, Lingshan Town, Quyang County, Baoding City, Hebei Province

李杰，身份证号：370686200104227924

Li Jie, ID No.370686200104227924

地址:山东省栖霞市寺口镇邴家岭村75号

Address:No.75, Bing Jialing Village, Sikou Town, Qixia City, Shandong Province

孙天柱，身份证号：150426198704251559

Sun Tian Zhu, ID No.150426198704251559

地址:内蒙古赤峰市翁牛特旗亿合公镇四方地村大营子村民组

Address:Dayingzi Village Group, Sifang Di Village, Renhegong Town, Wengniute Banner, Chifeng City, Inner Mongolia

**鉴于:**

**Given**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. 甲方是一家在中华人民共和国境内合法成立并有效存续的外商独资企业;

Party A is a foreign-invested enterprise legally established and validly existing within the territory of the People's Republic of China;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. 乙方是一家在中国注册成立的有限责任公司;

Party B is a limited liability company incorporated in China;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. 甲方与乙方已经通过签署《独家咨询和服务协议》等协议建立了业务关系; 乙方在该等协议项下 应向甲方支付各种款项, 因此, 乙方的日常经营活动将对其向甲方支付相应款项的能力产生实质性的影响;

Party A and Party B have established a business relationship by signing the "Exclusive Consultation and Service Agreement" and other agreements; Party B shall make various payments to Party A under these agreements. Therefore, Party B will pay to them in their daily business activities. Party A's ability to make corresponding payments has a substantial impact;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. 丙方各方为乙方的股东(下称"股东"), 其中, 孙秀芝持有85.964%的股权，李静持有6%的股权，李莹持有3%的股权，苑晓燕持有3.5%的股权，李杰持有1.5%的股权，孙天柱持有0.036%的 股权。

Parties to Party C are shareholders of Party B (hereinafter referred to as "shareholders"), of which Sun Xiuzhi hold 85.964% equity，Li Jing hold 6% equity, Li Ying hold 3% equity,Yuan Xiaoyan hold 3.5% equity,Li Jie hold 1.5% equity, and Sun Tianzhu hold 0.036% equity.

据此, 协议各方经过友好协商, 本着平等互利的原则, 达成如下协议以资遵守:

Based on this, the parties to the agreement have reached the following agreement to comply with them through friendly consultations based on the principle of equality and mutual benefit:

**一、 不作为义务Obligation of Omission**

为保证乙方履行与甲方签订的各项协议及对甲方承担的各项义务, 股东在此确认并同意, 除非获得甲方或甲方指定的其他方的事先书面同意, 乙方将不会进行任何有可能实质影响其资产、业务、人员、义务、权利或公司经营的交易, 包括但不限于如下内容:

In order to ensure that Party B fulfills the various agreements signed with Party A and various obligations to Party A, the shareholders hereby confirm and agree that Party B will not proceed unless it obtains the prior written consent of Party A or other parties designated by Party A. Any transaction that may materially affect its assets, business, personnel, obligations, rights, or company operations, including but not limited to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 进行任何超出公司正常经营范围的活动或非以与过去一致和通常的方式经营公司业务。

Carrying out any activities beyond the normal business scope of the company or operating the company's business in a consistent and usual manner with the past.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 向任何第三方借款或承担任何债务。

Borrow or assume any debts from any third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 变更或罢免任何公司董事或撤换公司的任何高级管理人员。

Change or dismiss any company directors or replace any senior management personnel of the company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 向任何第三方出售或获取或以其它方式处置任何金额超过人民币20万元的资产或权利, 包括但 不限于任何知识产权。

Sell or acquire or otherwise dispose of any assets or rights in excess of RMB 200,000 to any third party, including but not limited to any intellectual property rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 向任何第三方以其资产或知识产权提供担保或提供任何其他形式的担保或在公司资产上设置任何其他权利负担。

To provide guarantees or provide any other forms of guarantees to any third party for its assets or intellectual property rights or to place any other burden of rights on the company's assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 修改公司章程或改变公司的经营范围。

Amend the company's articles of association or change the company's business scope.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 改变公司正常的业务程序或修改任何重大的公司内部规章制度。

Change the company's normal business procedures or modify any major company internal rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8 向任何第三方转让本协议项下的权利义务。

Assign the rights and obligations under this agreement to any third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9 对其业务经营模式、市场营销策略、经营方针或客户关系作出重大调整。

Make major adjustments to its business operation model, marketing strategy, operation policy or customer relationship.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 以任何形式进行红利、股息的分配。

Dividends and dividends are distributed in any form.

**二、 经营管理与人事安排Operation management and personnel arrangements**

&nbsp;&nbsp;&nbsp;&nbsp;2.1 乙方及股东特此同意接受甲方不时向其提供的有关公司员工聘任和解聘、公司日常经营管理以及公司财务管理制度等方面的建议,
并予以严格执行。

Party B and shareholders hereby agree to accept and strictly implement the recommendations provided by Party A on the employment and dismissal of company employees, the company's daily operation and management, and the company's financial management system from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;2.2 乙方及股东在此同意,
股东将按照法律法规和公司章程规定的程序选举甲方指定的人选担任乙方的董事（含执行董事）,
并促使该等当选的董事按照甲方推荐的人选选举公司董事长（如适用）,
并将委任由甲方指定的人员作为乙方的总经理、财务总监及其他高级管理人员。

Party B and the shareholders hereby agree that the shareholders will elect persons designated by Party A to serve as directors (including executive directors) of Party B in accordance with the procedures prescribed by laws, regulations and the company's articles of association, and urge those elected directors to elect the company in accordance with the persons recommended by Party A The chairman of the board (if applicable), and will appoint the personnel designated by Party A as the general manager, chief financial officer and other senior management personnel of Party B.

&nbsp;&nbsp;&nbsp;&nbsp;2.3 上述甲方指定的董事/执行董事或高级管理人员若离开甲方、无论是自愿离职或是被甲方解聘,
均将同时失去在乙方担任任何职务的资格。此种情况下,
股东将立即解聘上述人士在乙方担任的任何职务,
并立即选举并聘请甲方另行指定的其他人员担任该等职务。

If the directors/executive directors or senior management personnel designated by Party A leave Party A, whether they resign voluntarily or are dismissed by Party A, they will lose their qualifications to hold any position in Party B at the same time. In this case, the shareholders will immediately dismiss any positions held by the above-mentioned persons in Party B, and immediately elect and hire other personnel designated by Party A to assume such positions.

&nbsp;&nbsp;&nbsp;&nbsp;2.4 为上述2.3条之目的,
股东将依照法律、公司章程及本协议的规定,
采取一切必要的公司内部和外部程序以完成上述解聘和聘任程序。

For the purpose of Article 2.3 above, the shareholders will take all necessary internal and external procedures of the company to complete the above-mentioned dismissal and appointment procedures in accordance with the provisions of the law, the company's articles of association and this agreement.

&nbsp;&nbsp;&nbsp;&nbsp;2.5 股东在此同意在本协议签订的同时,
将签订内容如本协议附件一之授权委托书,
根据该委托书股东将不可撤销地授权甲方指定的人员,
代为行使其股东权利, 并在乙方的股东会上以股东的名义行使股东所享有的全部股东表决权。股东进一步同意其将随时依照甲方的要求更换上述授权委托书中被指定授权的人士。

The shareholders hereby agree that at the same time as the signing of this agreement, they will sign a power of attorney with the content as Annex I of this agreement. According to the power of attorney, the shareholders will irrevocably authorize the personnel designated by Party A to exercise their shareholders' rights on their behalf, and in Party B The shareholders' meeting exercises all shareholders' voting rights in the name of shareholders. The shareholders further agree that they will replace the authorized person specified in the above power of attorney at any time in accordance with the requirements of Party A.

**三、 其它约定Other agreements**

&nbsp;&nbsp;&nbsp;&nbsp;3.1 如果甲方和乙方之间的任一协议终止或期满,
甲方将有权决定是否终止甲方和乙方之间的所有协议,
包括但不限于独家咨询和服务协议。

If any agreement between Party A and Party B terminates or expires, Party A will have the right to decide whether to terminate all agreements between Party A and Party B, including but not limited to exclusive consultation and service agreements.

&nbsp;&nbsp;&nbsp;&nbsp;3.2 鉴于甲方与乙方已经通过签署独家咨询和服务协议等协议已建立了业务关系,
乙方的日常经营活动将对其向甲方支付相应款项的能力产生实质性的影响。股东同意,
其作为乙方股东的身份自乙方处取得的任何红利、股息分配或其它任何收益或利益(不论其具体形式),
应当在实现时, 不附加任何条件将收益或利益立即向甲方支付或无偿转让并按照甲方的要求提供或采取所有为实现该等支付或转让所需的所有文件或所有行动。

In view of the fact that Party A and Party B have established a business relationship by signing exclusive consultation and service agreements and other agreements, Party B's daily business activities will have a substantial impact on its ability to make corresponding payments to Party A. The shareholders agree that any dividends, dividend distributions, or any other income or benefits (regardless of their specific form) obtained from Party B as a shareholder of Party B shall be paid to Party A immediately without any conditions. Or transfer free of charge and provide or take all documents or all actions required to realize such payment or transfer in accordance with Party A's requirements.

**四、 全部协议和协议修改All agreements and agreement modifications**

&nbsp;&nbsp;&nbsp;&nbsp;4.1 本协议及其所提及或明示包含的所有协议和/或文件构成各方之间就本协议标的事宜所达成的全部协议,
并取代先前各方有关本协议标的事宜的所有口头及书面的协议、合同、谅解及通讯。

This agreement and all the agreements and/or documents referred to or expressly contained in this agreement constitute all agreements reached between the parties on the subject matter of this agreement, and replace all oral and written statements of the previous parties regarding the subject matter of this agreement. Agreements, contracts, understandings and communications.

&nbsp;&nbsp;&nbsp;&nbsp;4.2 对本协议的任何修改只有经各方签署书面协议后方为有效。经过各方适当签字的有关本协议的修改协议和补充协议是本协议的组成部分,
具有与本协议同等的法律效力。

Any modification to this agreement will only be effective after the parties have signed a written agreement. The modification agreement and supplementary agreement related to this agreement that have been properly signed by all parties are an integral part of this agreement and have the same legal effect as this agreement.

**五、 管辖法律Governing Law**

本协议的签署、有效性、履行和解释, 以及争议的解决受中华人民共和国法律管辖, 依中华人民共和国法律解释。

The signing, validity, performance and interpretation of this agreement, as well as the settlement of disputes, are governed by the laws of the People's Republic of China and interpreted in accordance with the laws of the People's Republic of China.

**六、 争议的解决Dispute Resolution**

&nbsp;&nbsp;&nbsp;&nbsp;6.1 在本协议各方就本协议项下条款的解释和履行发生争议时,
各方应善意通过协商解决该争议。 协商不成,
任何一方均可将有关争议提交中国国际经济贸易仲裁委员会按照其届时有效的仲裁规则仲裁解决。仲裁地点为北京,
仲裁使用之语言为中文。仲裁裁决应是终局性的,
对各方均有拘束力。

When the parties to this agreement have a dispute over the interpretation and performance of the terms of this agreement, the parties shall resolve the dispute through negotiation in good faith. If the negotiation fails, either party can submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The place of arbitration shall be Beijing, and the language of arbitration shall be Chinese. The arbitration award shall be final and binding on all parties.

&nbsp;&nbsp;&nbsp;&nbsp;6.2 除各方发生争议的事项外,
各方仍应当本着善意的原则按照本协议的规定继续履行各自义务。

Except for matters in dispute between the parties, the parties shall continue to perform their respective obligations in accordance with the provisions of this agreement in accordance with the principles of good faith.

**七、 通知Notification**

本协议各方为履行本协议项下的权利、义务所发出的通知, 都应以书面做成, 并以专人递送、挂号邮寄、邮资预付邮寄、认可的速递服务、或图文传真的形式发送到有关一方或各方下列的地址。

The notices issued by the parties to this agreement to perform their rights and obligations under this agreement shall be made in writing and sent in the form of personal delivery, registered mail, postage prepaid mail, approved express delivery service, or graphic fax To the party concerned or the following address of each party.

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司

Party A: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

电话：13998785999

Phone:13998785999

收件人:王增文

Recipient: Wang Zengwen

乙方: 辽宁康拜尔生物科技开发有限公司

Party B: Liaoning Kangbaier Biotechnology Development Co., Ltd.

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

电话：15842767931

Phone:15842767931

收件人:孙秀芝

Recipient: Sun Xiuzhi

丙方:

Party C:

孙秀芝 Sun Xiu Zhi

地址:辽宁省盘锦市兴隆台区创新街商东社区鹤翔路53-2-2-201

Address:53-2-2-201, Hexiang Road, Shangdong Community, Xininnovation Street, Xinglongtai District, Panjin City, Liaoning Province

电话:15842767931

Phone:15842767931

李静Li Jing

地址: 辽宁省盘锦市兴隆台区振兴街设计院社区56-2-301

Address:56-2-301, Zhenxing Street Design Institute Community, Xinglongtai District, Panjin City, Liaoning Province

电话: 19951128222

Phone:19951128222

李莹 Li Ying

地址:辽宁省阜新蒙古族自治县卧凤沟乡七家子村七家子南地44号

Address:No. 44 Qizi Nandi, Qizi Village, Wufenggou Township, Fuxin Mongolian Autonomous County, Liaoning Province

电话:18576703367

Phone:18576703367

苑晓燕 Yaun Xiaoyan

地址: 河北省保定市曲阳县灵山镇横河口村39号

Address:39 Henghekou Village, Lingshan Town, Quyang County, Baoding City, Hebei Province

电话: 18515666707

Phone: 18515666707

李杰Li Jie

地址: 山东省栖霞市寺口镇邴家岭村75号

Address:No.75, Bing Jialing Village, Sikou Town, Qixia City, Shandong Province

电话: 17600462172

Phone: 17600462172

孙天柱Sun Tianzhu

地址:内蒙古赤峰市翁牛特旗亿合公镇四方地村大营子村民组

Address:Dayingzi Village Group, Sifang Di Village, Renhegong Town, Wengniute Banner, Chifeng City, Inner Mongolia

电话: 13940208721

Phone:13940208721

八、 **协议生效、期限及其他 Effectiveness of the agreement, time limit and others**

&nbsp;&nbsp;&nbsp;&nbsp;8.1 本协议涉及甲方的书面同意、建议、指定以及其他对乙方日常经营产生重要影响的决定应当由甲方之董事会/执行董事作出。

This agreement involves Party A's written consent, recommendation, designation, and other decisions that have a significant impact on Party B's daily operations shall be made by Party A's board of directors/executive directors.

&nbsp;&nbsp;&nbsp;&nbsp;8.2 本协议由协议各方于文首标明的日期签署并生效。除非甲方提前解除本协议,
否则本协议有效期限为十年, 自本协议生效之日起起算。本协议期满前,
若甲方提出要求, 则双方应根据甲方的要求延长本协议的期限,
并依甲方要求另行签署业务经营协议或继续履行本协议。

This agreement is signed and effective by the parties to the agreement on the date indicated at the beginning of the text. Unless Party A cancels this agreement in advance, the validity period of this agreement is ten years, counting from the date this agreement takes effect. Before the expiration of this agreement, if Party A makes a request, both parties shall extend the term of this agreement according to Party A's request, and sign another business operation agreement or continue to perform this agreement in accordance with Party A's request.

&nbsp;&nbsp;&nbsp;&nbsp;8.3 在本协议有效期内,
乙方及股东不得提前终止本协议。甲方有权在任何时候通过提前30天向乙方及股东发出书面通知的方式终止本协议。

During the validity period of this agreement, Party B and shareholders shall not terminate this agreement in advance. Party A has the right to terminate this agreement at any time by sending a written notice to Party B and shareholders 30 days in advance.

&nbsp;&nbsp;&nbsp;&nbsp;8.4 各方在此确认本协议为各方在平等互利的基础之上达成的公平合理的约定。如果本协议的任何条款和规定因适用的法律而被视为非法或不能执行,
那么该条款应被视为已从本协议中删除,
并且失效, 但本协议其他条款仍然有效, 并且应被视为从一开始就没有包含该条款。各方应相互协商,
以双方都能接受的、合法和有效的条款来取代被视为已删除的条款。

The parties hereby confirm that this agreement is a fair and reasonable agreement reached by the parties on the basis of equality and mutual benefit. If any terms and provisions of this agreement are deemed illegal or unenforceable due to applicable laws, then the terms shall be deemed to have been deleted from this agreement and become invalid, but the other terms of this agreement are still valid and shall be considered Because this clause was not included from the beginning. The parties shall negotiate with each other to replace the deleted clauses with legal and effective clauses acceptable to both parties.

&nbsp;&nbsp;&nbsp;&nbsp;8.5 任一方未能行使本协议项下的任何权利、权力或特权,
不得作为其弃权处理。对任何权利、权力或特权的单项行使或部分行使也不得排除对任何其他权利、权力或特权的行使。

Any party's failure to exercise any rights, powers or privileges under this agreement shall not be treated as a waiver. The single or partial exercise of any right, power or privilege shall not exclude the exercise of any other right, power or privilege.

&nbsp;&nbsp;&nbsp;&nbsp;8.6 有鉴于此, 各方经其授权代表于文首所述日期签署了本协议,
以昭信守。

In view of this, the parties have signed this agreement on the date mentioned at the beginning of the text by their authorized representatives in order to abide by it.

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Signature Page Only

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司

Party A:Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

授权代表: ___________________________

<u>Authorized Representative:</u>

乙方: 辽宁康拜尔生物科技开发有限公司

Party B: Liaoning Kangbaier Biotechnology Development Co., Ltd.

授权代表: ___________________________

<u>Authorized Representative:</u>

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丙方:

Party C:

---

| | |
|:---|:---|
| 孙秀芝 Sun Xiu Zhi | 李静 Li Jing |
| 李莹Li Ying | 苑晓燕 Yuan Xiao Yan |
| 李杰 Li Jie | 孙天柱 Sun Tian Zhu |

---

附件一: 授权委托书

Annex 1: Power of Attorney

**授权委托书**

**Power of attorney**

辽宁康拜尔生物科技开发有限公司("康拜尔生物")股东孙秀芝、李静、李莹、苑晓燕、李杰、孙天柱共持有康拜尔生物共计100%的股权, 本人孙秀芝同意将与本人所持有的85.964%的康拜尔生物股权相应的股东权利授权给佰迦康（辽宁）健康信息咨询服务有限公司（"辽宁佰迦康"）行使, 特此不可撤销地授权被授权人在本授权委托书的有效期内行使如下权利:

Liaoning Kangbaier Biotechnology Development Co., Ltd. ("Kangbaier Biotechnology")shareholders Sun Xiuzhi, Li Jing, Li Ying, Yaun Xiaoyan, Li Jie, Sun Tianzhu hold 100% of Kangbaier Biotechnology. I am Sun Xiuzhi Agree to authorize the shareholder rights corresponding to the 85.964% of Kangbaier Biotechnology equity held by me to Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd. ("Baijiakang Liaoning"), and hereby irrevocably authorize the authorized person in this power of attorney The following rights are exercised during the validity period:

授权被授权人全权代表本人, 以本人的名义作为康拜尔生物85.964%的股权的持股股东按照法律和公司章程规定行使本人所享有的全部股东权利, 包括但不限于: 提议召开股东会的权利、接受任何关于股东会召开和议事程序的通知、参加康拜尔生物股东会并行使作为85.964%的股权持有股东的全部表决权(包括在康拜尔生物股东会上作为本人的授权代表指定和任命康拜尔生物的董事、总经理, 财务总监及其他高级管理人员, 决定分红等事项)、出售或转让本人在康拜尔生物中持有的85.964%的股权等。

Authorize the authorized person to represent me in my own name as a 85.964% equity shareholder of Kangbaier Biotechnology to exercise all my shareholder rights in accordance with the law and the company's articles of association, including but not limited to: the right to propose a shareholder meeting , Accept any notices about the convening of the shareholders meeting and procedures, participate in the Kangbaier Biotechnology shareholders meeting and exercise all the voting rights of the shareholders as 85.964% equity holders (including the appointment and appointment of Kangbaier Biotechnology shareholders' meeting as my authorized representative Director, General Manager, Chief Financial Officer and other senior management of Kangbaier Biotechnology)、Sell or transfer 85.964% of my equity in Cambel Biological, etc.

被授权人有权指定其董事会（或执行董事）任命的个人行使本授权委托书项下授权人所授予的权利。

The Authorized Person shall have the right to appoint an individual appointed by the Board of Directors (or the Executive Director) to exercise the rights granted by the Authorized person under this Power of Attorney.

除非康拜尔生物、辽宁佰迦康、李静、李莹、苑晓燕、李杰、孙天柱及本人共同签署的《业务经营协议》因任何原因提前终止, 本授权委托书的有效期十年, 自授权委托书签署之日起算。授权委托期满, 如辽宁佰迦康提出要求, 则本人应根据辽宁佰迦康的要求延长本授权委托书的期限。

Unless the Business Operation Agreement signed by Kangbaier Biotechnology, Baijiakang Liaoning, Li Jing, Li Ying, Yuan Xiaoyan, Li Jie, Sun Tianzhu and myself is prematurely terminated for any reason, this Power of Attorney shall be valid for ten years from the date of execution of the Power of Attorney. Upon the expiration of the term of authorization, if requested by Baijiakang Liaoning, I shall extend the term of this Power of attorney as required by Baijiakang Liaoning.

[以下无正文]

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Signature Page Only

授权人: 孙秀芝

Authorizer: Sun Xiuzhi

被授权人: 佰迦康（辽宁）健康信息咨询服务有限公司

Authorized Person: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

授权代表: ___________________________

<u>Authorized Representative:</u>

2022年11月27日

27 November, 2022

**授权委托书**

**Power of Attorney**

辽宁康拜尔生物科技开发有限公司("康拜尔生物")股东孙秀芝、李静、李莹、苑晓燕、李杰、孙天柱共持有康拜尔生物共计100%的股权, 本人孙秀芝同意将与本人所持有的85.964%的康拜尔生物股权相应的股东权利授权给佰迦康（辽宁）健康信息咨询服务有限公司（"辽宁佰迦康"）行使, 特此不可撤销地授权被授权人在本授权委托书的有效期内行使如下权利:

Liaoning Kangbaier Biotechnology Development Co., Ltd. ("Kangbaier Biotechnology")shareholders Sun Xiuzhi, Li Jing, Li Ying, Yaun Xiaoyan, Li Jie, Sun Tianzhu hold 100% of Kangbaier Biotechnology. I am Sun Xiuzhi Agree to authorize the shareholder rights corresponding to the 85.964% of Kangbaier Biotechnology equity held by me to Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd. ("Baijiakang Liaoning"), and hereby irrevocably authorize the authorized person in this power of attorney The following rights are exercised during the validity period:

授权被授权人全权代表本人, 以本人的名义作为康拜尔生物85.964%的股权的持股股东按照法律和公司章程规定行使本人所享有的全部股东权利, 包括但不限于: 提议召开股东会的权利、接受任何关于股东会召开和议事程序的通知、参加康拜尔生物股东会并行使作为85.964%的股权持有股东的全部表决权(包括在康拜尔生物股东会上作为本人的授权代表指定和任命康拜尔生物的董事、总经理, 财务总监及其他高级管理人员, 决定分红等事项)、出售或转让本人在康拜尔生物中持有的85.964%的股权等。

Authorize the authorized person to represent me in my own name as a 85.964% equity shareholder of Kangbaier Biotechnology to exercise all my shareholder rights in accordance with the law and the company's articles of association, including but not limited to: the right to propose a shareholder meeting , Accept any notices about the convening of the shareholders meeting and procedures, participate in the Kangbaier Biotechnology shareholders meeting and exercise all the voting rights of the shareholders as 85.964% equity holders (including the appointment and appointment of Kangbaier Biotechnology shareholders' meeting as my authorized representative Director, General Manager, Chief Financial Officer and other senior management of Kangbaier Biotechnology)、Sell or transfer 85.964% of my equity in Cambel Biological, etc.

被授权人有权指定其董事会（或执行董事）任命的个人行使本授权委托书项下授权人所授予的权利。

The Authorized Person shall have the right to appoint an individual appointed by the Board of Directors (or the Executive Director) to exercise the rights granted by the Authorized person under this Power of Attorney.

除非康拜尔生物、辽宁佰迦康、李静、李莹、苑晓燕、李杰、孙天柱及本人共同签署的《业务经营协议》因任何原因提前终止, 本授权委托书的有效期十年, 自授权委托书签署之日起算。授权委托期满, 如辽宁佰迦康提出要求, 则本人应根据辽宁佰迦康的要求延长本授权委托书的期限。

Unless the Business Operation Agreement signed by Kangbaier Biotechnology, Baijiakang Liaoning, Li Jing, Li Ying, Yuan Xiaoyan, Li Jie, Sun Tianzhu and myself is prematurely terminated for any reason, this Power of Attorney shall be valid for ten years from the date of execution of the Power of Attorney. Upon the expiration of the term of authorization, if requested by Baijiakang Liaoning, I shall extend the term of this Power of attorney as required by Baijiakang Liaoning.

[以下无正文]

[No text below]

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Signature Page Only

授权人: 李静

Authorizer: Li Jing

被授权人: 佰迦康（辽宁）健康信息咨询服务有限公司

Authorized Person: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

授权代表: ___________________________

<u>Authorized Representative:</u>

2022年11月27日

27 November, 2022

**授权委托书**

**Power of Attorney**

辽宁康拜尔生物科技开发有限公司("康拜尔生物")股东孙秀芝、李静、李莹、苑晓燕、李杰、孙天柱共持有康拜尔生物共计100%的股权, 本人孙秀芝同意将与本人所持有的85.964%的康拜尔生物股权相应的股东权利授权给佰迦康（辽宁）健康信息咨询服务有限公司（"辽宁佰迦康"）行使, 特此不可撤销地授权被授权人在本授权委托书的有效期内行使如下权利:

Liaoning Kangbaier Biotechnology Development Co., Ltd. ("Kangbaier Biotechnology")shareholders Sun Xiuzhi, Li Jing, Li Ying, Yaun Xiaoyan, Li Jie, Sun Tianzhu hold 100% of Kangbaier Biotechnology. I am Sun Xiuzhi Agree to authorize the shareholder rights corresponding to the 85.964% of Kangbaier Biotechnology equity held by me to Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd. ("Baijiakang Liaoning"), and hereby irrevocably authorize the authorized person in this power of attorney The following rights are exercised during the validity period:

授权被授权人全权代表本人, 以本人的名义作为康拜尔生物85.964%的股权的持股股东按照法律和公司章程规定行使本人所享有的全部股东权利, 包括但不限于: 提议召开股东会的权利、接受任何关于股东会召开和议事程序的通知、参加康拜尔生物股东会并行使作为85.964%的股权持有股东的全部表决权(包括在康拜尔生物股东会上作为本人的授权代表指定和任命康拜尔生物的董事、总经理, 财务总监及其他高级管理人员, 决定分红等事项)、出售或转让本人在康拜尔生物中持有的85.964%的股权等。

Authorize the authorized person to represent me in my own name as a 85.964% equity shareholder of Kangbaier Biotechnology to exercise all my shareholder rights in accordance with the law and the company's articles of association, including but not limited to: the right to propose a shareholder meeting , Accept any notices about the convening of the shareholders meeting and procedures, participate in the Kangbaier Biotechnology shareholders meeting and exercise all the voting rights of the shareholders as 85.964% equity holders (including the appointment and appointment of Kangbaier Biotechnology shareholders' meeting as my authorized representative Director, General Manager, Chief Financial Officer and other senior management of Kangbaier Biotechnology)、Sell or transfer 85.964% of my equity in Cambel Biological, etc.

被授权人有权指定其董事会（或执行董事）任命的个人行使本授权委托书项下授权人所授予的权利。

The Authorized Person shall have the right to appoint an individual appointed by the Board of Directors (or the Executive Director) to exercise the rights granted by the Authorized person under this Power of Attorney.

除非康拜尔生物、辽宁佰迦康、李静、李莹、苑晓燕、李杰、孙天柱及本人共同签署的《业务经营协议》因任何原因提前终止, 本授权委托书的有效期十年, 自授权委托书签署之日起算。授权委托期满, 如辽宁佰迦康提出要求, 则本人应根据辽宁佰迦康的要求延长本授权委托书的期限。

Unless the Business Operation Agreement signed by Kangbaier Biotechnology, Baijiakang Liaoning, Li Jing, Li Ying, Yuan Xiaoyan, Li Jie, Sun Tianzhu and myself is prematurely terminated for any reason, this Power of Attorney shall be valid for ten years from the date of execution of the Power of Attorney. Upon the expiration of the term of authorization, if requested by Baijiakang Liaoning, I shall extend the term of this Power of attorney as required by Baijiakang Liaoning.

[以下无正文]

[No text below]

（本页无正文，为《授权委托书》签署页）

Signature Page Only

授权人: 李莹

Authorizer: Li Ying

被授权人: 佰迦康（辽宁）健康信息咨询服务有限公司

Authorized Person: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

授权代表: ___________________________

<u>Authorized Representative:</u>

2022年11月27日

27 November, 2022

**授权委托书**

**Power of Attorney**

辽宁康拜尔生物科技开发有限公司("康拜尔生物")股东孙秀芝、李静、李莹、苑晓燕、李杰、孙天柱共持有康拜尔生物共计100%的股权, 本人孙秀芝同意将与本人所持有的85.964%的康拜尔生物股权相应的股东权利授权给佰迦康（辽宁）健康信息咨询服务有限公司（"辽宁佰迦康"）行使, 特此不可撤销地授权被授权人在本授权委托书的有效期内行使如下权利:

Liaoning Kangbaier Biotechnology Development Co., Ltd. ("Kangbaier Biotechnology")shareholders Sun Xiuzhi, Li Jing, Li Ying, Yaun Xiaoyan, Li Jie, Sun Tianzhu hold 100% of Kangbaier Biotechnology. I am Sun Xiuzhi Agree to authorize the shareholder rights corresponding to the 85.964% of Kangbaier Biotechnology equity held by me to Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd. ("Baijiakang Liaoning"), and hereby irrevocably authorize the authorized person in this power of attorney The following rights are exercised during the validity period:

授权被授权人全权代表本人, 以本人的名义作为康拜尔生物85.964%的股权的持股股东按照法律和公司章程规定行使本人所享有的全部股东权利, 包括但不限于: 提议召开股东会的权利、接受任何关于股东会召开和议事程序的通知、参加康拜尔生物股东会并行使作为85.964%的股权持有股东的全部表决权(包括在康拜尔生物股东会上作为本人的授权代表指定和任命康拜尔生物的董事、总经理, 财务总监及其他高级管理人员, 决定分红等事项)、出售或转让本人在康拜尔生物中持有的85.964%的股权等。

Authorize the authorized person to represent me in my own name as a 85.964% equity shareholder of Kangbaier Biotechnology to exercise all my shareholder rights in accordance with the law and the company's articles of association, including but not limited to: the right to propose a shareholder meeting , Accept any notices about the convening of the shareholders meeting and procedures, participate in the Kangbaier Biotechnology shareholders meeting and exercise all the voting rights of the shareholders as 85.964% equity holders (including the appointment and appointment of Kangbaier Biotechnology shareholders' meeting as my authorized representative Director, General Manager, Chief Financial Officer and other senior management of Kangbaier Biotechnology)、Sell or transfer 85.964% of my equity in Cambel Biological, etc.

被授权人有权指定其董事会（或执行董事）任命的个人行使本授权委托书项下授权人所授予的权利。

The Authorized Person shall have the right to appoint an individual appointed by the Board of Directors (or the Executive Director) to exercise the rights granted by the Authorized person under this Power of Attorney.

除非康拜尔生物、辽宁佰迦康、李静、李莹、苑晓燕、李杰、孙天柱及本人共同签署的《业务经营协议》因任何原因提前终止, 本授权委托书的有效期十年, 自授权委托书签署之日起算。授权委托期满, 如辽宁佰迦康提出要求, 则本人应根据辽宁佰迦康的要求延长本授权委托书的期限。

Unless the Business Operation Agreement signed by Kangbaier Biotechnology, Baijiakang Liaoning, Li Jing, Li Ying, Yuan Xiaoyan, Li Jie, Sun Tianzhu and myself is prematurely terminated for any reason, this Power of Attorney shall be valid for ten years from the date of execution of the Power of Attorney. Upon the expiration of the term of authorization, if requested by Baijiakang Liaoning, I shall extend the term of this Power of attorney as required by Baijiakang Liaoning.

[以下无正文]

[No text below]

（本页无正文，为《授权委托书》签署页）

Signature Page Only

授权人: 苑晓燕

Authorizer: Yuan Xiaoyan

被授权人: 佰迦康（辽宁）健康信息咨询服务有限公司

Authorized Person: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

授权代表: ___________________________

<u>Authorized Representative:</u>

2022年11月27日

27 November, 2022

**授权委托书**

**Power of Attorney**

辽宁康拜尔生物科技开发有限公司("康拜尔生物")股东孙秀芝、李静、李莹、苑晓燕、李杰、孙天柱共持有康拜尔生物共计100%的股权, 本人孙秀芝同意将与本人所持有的85.964%的康拜尔生物股权相应的股东权利授权给佰迦康（辽宁）健康信息咨询服务有限公司（"辽宁佰迦康"）行使, 特此不可撤销地授权被授权人在本授权委托书的有效期内行使如下权利:

Liaoning Kangbaier Biotechnology Development Co., Ltd. ("Kangbaier Biotechnology")shareholders Sun Xiuzhi, Li Jing, Li Ying, Yaun Xiaoyan, Li Jie, Sun Tianzhu hold 100% of Kangbaier Biotechnology. I am Sun Xiuzhi Agree to authorize the shareholder rights corresponding to the 85.964% of Kangbaier Biotechnology equity held by me to Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd. ("Baijiakang Liaoning"), and hereby irrevocably authorize the authorized person in this power of attorney The following rights are exercised during the validity period:

授权被授权人全权代表本人, 以本人的名义作为康拜尔生物85.964%的股权的持股股东按照法律和公司章程规定行使本人所享有的全部股东权利, 包括但不限于: 提议召开股东会的权利、接受任何关于股东会召开和议事程序的通知、参加康拜尔生物股东会并行使作为85.964%的股权持有股东的全部表决权(包括在康拜尔生物股东会上作为本人的授权代表指定和任命康拜尔生物的董事、总经理, 财务总监及其他高级管理人员, 决定分红等事项)、出售或转让本人在康拜尔生物中持有的85.964%的股权等。

Authorize the authorized person to represent me in my own name as a 85.964% equity shareholder of Kangbaier Biotechnology to exercise all my shareholder rights in accordance with the law and the company's articles of association, including but not limited to: the right to propose a shareholder meeting , Accept any notices about the convening of the shareholders meeting and procedures, participate in the Kangbaier Biotechnology shareholders meeting and exercise all the voting rights of the shareholders as 85.964% equity holders (including the appointment and appointment of Kangbaier Biotechnology shareholders' meeting as my authorized representative Director, General Manager, Chief Financial Officer and other senior management of Kangbaier Biotechnology)、Sell or transfer 85.964% of my equity in Cambel Biological, etc.

被授权人有权指定其董事会（或执行董事）任命的个人行使本授权委托书项下授权人所授予的权利。

The Authorized Person shall have the right to appoint an individual appointed by the Board of Directors (or the Executive Director) to exercise the rights granted by the Authorized person under this Power of Attorney.

除非康拜尔生物、辽宁佰迦康、李静、李莹、苑晓燕、李杰、孙天柱及本人共同签署的《业务经营协议》因任何原因提前终止, 本授权委托书的有效期十年, 自授权委托书签署之日起算。授权委托期满, 如辽宁佰迦康提出要求, 则本人应根据辽宁佰迦康的要求延长本授权委托书的期限。

Unless the Business Operation Agreement signed by Kangbaier Biotechnology, Baijiakang Liaoning, Li Jing, Li Ying, Yuan Xiaoyan, Li Jie, Sun Tianzhu and myself is prematurely terminated for any reason, this Power of Attorney shall be valid for ten years from the date of execution of the Power of Attorney. Upon the expiration of the term of authorization, if requested by Baijiakang Liaoning, I shall extend the term of this Power of attorney as required by Baijiakang Liaoning.

[以下无正文]

[No text below]

（本页无正文，为《授权委托书》签署页）

Signature Page Only

授权人: 李杰

Authorizer: Li Jie

被授权人: 佰迦康（辽宁）健康信息咨询服务有限公司

Authorized Person: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

授权代表: ___________________________

<u>Authorized Representative:</u>

2022年11月27日

27 November, 2022

**授权委托书**

**Power of Attorney**

辽宁康拜尔生物科技开发有限公司("康拜尔生物")股东孙秀芝、李静、李莹、苑晓燕、李杰、孙天柱共持有康拜尔生物共计100%的股权, 本人孙秀芝同意将与本人所持有的85.964%的康拜尔生物股权相应的股东权利授权给佰迦康（辽宁）健康信息咨询服务有限公司（"辽宁佰迦康"）行使, 特此不可撤销地授权被授权人在本授权委托书的有效期内行使如下权利:

Liaoning Kangbaier Biotechnology Development Co., Ltd. ("Kangbaier Biotechnology")shareholders Sun Xiuzhi, Li Jing, Li Ying, Yaun Xiaoyan, Li Jie, Sun Tianzhu hold 100% of Kangbaier Biotechnology. I am Sun Xiuzhi Agree to authorize the shareholder rights corresponding to the 85.964% of Kangbaier Biotechnology equity held by me to Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd. ("Baijiakang Liaoning"), and hereby irrevocably authorize the authorized person in this power of attorney The following rights are exercised during the validity period:

授权被授权人全权代表本人, 以本人的名义作为康拜尔生物85.964%的股权的持股股东按照法律和公司章程规定行使本人所享有的全部股东权利, 包括但不限于: 提议召开股东会的权利、接受任何关于股东会召开和议事程序的通知、参加康拜尔生物股东会并行使作为85.964%的股权持有股东的全部表决权(包括在康拜尔生物股东会上作为本人的授权代表指定和任命康拜尔生物的董事、总经理, 财务总监及其他高级管理人员, 决定分红等事项)、出售或转让本人在康拜尔生物中持有的85.964%的股权等。

Authorize the authorized person to represent me in my own name as a 85.964% equity shareholder of Kangbaier Biotechnology to exercise all my shareholder rights in accordance with the law and the company's articles of association, including but not limited to: the right to propose a shareholder meeting , Accept any notices about the convening of the shareholders meeting and procedures, participate in the Kangbaier Biotechnology shareholders meeting and exercise all the voting rights of the shareholders as 85.964% equity holders (including the appointment and appointment of Kangbaier Biotechnology shareholders' meeting as my authorized representative Director, General Manager, Chief Financial Officer and other senior management of Kangbaier Biotechnology)、Sell or transfer 85.964% of my equity in Cambel Biological, etc.

被授权人有权指定其董事会（或执行董事）任命的个人行使本授权委托书项下授权人所授予的权利。

The Authorized Person shall have the right to appoint an individual appointed by the Board of Directors (or the Executive Director) to exercise the rights granted by the Authorized person under this Power of Attorney.

除非康拜尔生物、辽宁佰迦康、李静、李莹、苑晓燕、李杰、孙天柱及本人共同签署的《业务经营协议》因任何原因提前终止, 本授权委托书的有效期十年, 自授权委托书签署之日起算。授权委托期满, 如辽宁佰迦康提出要求, 则本人应根据辽宁佰迦康的要求延长本授权委托书的期限。

Unless the Business Operation Agreement signed by Kangbaier Biotechnology, Baijiakang Liaoning, Li Jing, Li Ying, Yuan Xiaoyan, Li Jie, Sun Tianzhu and myself is prematurely terminated for any reason, this Power of Attorney shall be valid for ten years from the date of execution of the Power of Attorney. Upon the expiration of the term of authorization, if requested by Baijiakang Liaoning, I shall extend the term of this Power of attorney as required by Baijiakang Liaoning.

[以下无正文]

[No text below]

（本页无正文，为《授权委托书》签署页）

Signature Page Only

授权人: 孙天柱

Authorizer: Sun Tianzhu

被授权人: 佰迦康（辽宁）健康信息咨询服务有限公司

Authorized Person: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

授权代表: ___________________________

<u>Authorized Representative:</u>

2022年11月27日

27 November, 2022

## Exhibit 10.4

**Exhibit 10.4**

**代理协议**

**Proxy Agreement**

本代理协议（"本协议"）由下列各方于2022年11月27日订立：

Proxy Agreement signed on November 27, 2022

甲方：佰迦康（辽宁）健康信息咨询服务有限公司

Party A: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

注册地址： 辽宁省盘锦市兴隆台区赵家1-17-1号

Registration Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

乙方：在以下签字的辽宁康拜尔生物科技开发有限公司（一家依中国法设立的有限责任公司，"康拜尔生物"）的股东/所有人。

Party B: Liaoning Kangbaier Biotechnology Development Co., Ltd. (A shareholder/owner of a limited liability company established under Chinese law, "Kangbaier Biotechnology").

鉴于

A 甲方是依据中华人民共和国法律成立的，从事技术服务和商务咨询服务的外商投资有限公司。

Party A is a foreign investment limited company established in accordance with the laws of the People's Republic of China to engage in technical services and business consulting services.

B. 在本协议成立日，乙方是康拜尔生物的股东/所有人并且都合法持有康拜尔生物的股权。乙方合计持有康拜尔生物100%的股权。

On the date of the establishment of this agreement, Party B is the shareholder/owner of Kangbaier Biotechnology and legally holds equity in Kangbaier Biotechnology. Party B holds 100% of King Kangbaier Biotechnology's equity in total

C. 乙方期望授予甲方（及甲方指定或授权的人士）作为乙方代理人，于法定最长的期间内在康拜尔生物股东/所有人会议上的投票权利。

Party B expects to grant Party A (and the person designated or authorized by Party A) the right to vote at Kangbaier Biotechnology shareholders/owners meeting as the proxy of Party B for the longest legal period

鉴于此，各方达成如下协议：

In view of this, the parties reached the following agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. 乙方在此同意授权甲方不可撤销的许可，以及，在法律允许的最长期限内，行使康拜尔生物股东/所有人的投票权。甲方应当根据中国法和康拜尔生物公司章程行使该投票权。

Party B hereby agrees to authorize Party A's irrevocable license and, within the longest period permitted by law, to exercise the voting rights of Kangbaier Biotechnology shareholders/owners. Party A shall exercise the voting right in accordance with Chinese law and Kangbaier Biotechnology's articles of association

2. 甲方可以设立或修改关于如何行使乙方在此赋予的权力的相关规则。包括但不限于规定在授权，采取行动，和签署采取行动的文件时所需要的甲方董事人数或比例。甲方必须根据上述规则进行行为。

Party A can establish or modify relevant rules on how to exercise the powers granted by Party B here. Including but not limited to stipulating the number or proportion of Party A's directors required to authorize, take action, and sign documents to take action. Party A must act in accordance with the above rules.

3. 各方在此认识到，不管公司股权有任何变化，乙方都应当授权甲方任命的人士行使所有乙方股东/所有人投票权权利；乙方不得将其在康拜尔生物中的股东/所有人权益转让给任何个人或其他公司(除非甲方或其他甲方指定的人或者实体)。 乙方了解即使双方或其中一方不再持有康拜尔生物的股权利益，其也将继续履行合同。

The parties hereby recognize that, regardless of any changes in the company's equity, Party B should authorize the person appointed by Party A to exercise all the voting rights of Party B's shareholders/owners; Party B shall not transfer its shareholders/owners' rights and interests in Kangbaier Biotechnology To any individual or other company (unless Party A or other persons or entities designated by Party A). Party B understands that even if both parties or one of them no longer hold the equity interest in Kangbaier Biotechnology, they will continue to perform the contract.

4. 本协议在各方签订时生效，如果一方为非自然人的，则该方已取得其内部有权机构所有必要正式授权。

This agreement is effective when the parties are signed. If one party is not a natural person, the party has obtained all necessary formal authorizations from its internal authority

5. 乙方向甲方陈述和保证：乙方合法拥有康拜尔生物股权，并且没有任何抵押和抵押担保。除了甲方以外，乙方未有向任何人授予任何股权和作为康拜尔生物股东/所有人的，与乙方的权利一样的授权书。乙方进一步陈述和保证乙方签署或交付本协议不违反适用于乙方的法律，法规，司法决定，行政命令，仲裁裁决，合同或契约。在此认识到如果代理人撤回对相关人士的任命，代理人将在撤销任命和授权的同时，任命其他人士作为代替以便在公司股东/所有人会上行使投票权和其他权利。

Party B represents and warrants to Party A that Party B legally owns Kangbaier Biotechnology's equity and does not have any mortgage or mortgage guarantee. Except for Party A, Party B has not granted anyone any equity and power of attorney as a shareholder/owner of Kangbaier Biotechnology, which has the same rights as Party B. Party B further represents and warrants that the signing or delivery of this agreement by Party B does not violate the laws, regulations, judicial decisions, administrative orders, arbitration awards, contracts or contracts applicable to Party B. It is recognized here that if the proxy withdraws the appointment of the relevant person, the proxy will revoke the appointment and authorization while appointing another person as a substitute in order to exercise voting rights and other rights at the company's shareholders/owners meeting.

6. 除非甲方提前30天通知可以终止本协议外，本协议非经双方一致同意不得终止。

Unless Party A can terminate this agreement with 30 days' notice, this agreement shall not be terminated without the unanimous consent of both parties.

7. 本协议的任何修改和/或解除都必须采用书面形式。

Any modification and/or cancellation of this agreement must be in writing

8. 本协议的签订，效力，成立和履行适用中华人民共和国法律。

The signing, validity, establishment and performance of this agreement shall be governed by the laws of the People's Republic of China

9. 本协议一式七份，每一方持有一份，每一份都具有同等效力。

This agreement is in seven copies, each party holds one copy, and each copy has the same effect.

10. 如果因本协议产生争议，双方同意通过协商解决。如果双方不能在协商45日后达成一致，应提交中国国际经济贸易仲裁委员会，由该会依据其届时有效的仲裁规则进行仲裁。仲裁应在北京进行，仲裁使用的语言应为中文。仲裁裁决是具有终局效力，能够在具有管辖权的任何法院执行。

If a dispute occur due to this agreement, both parties agree to resolve it through negotiation. If the two parties cannot reach an agreement after 45 days of negotiation, they should submit it to the China International Economic and Trade Arbitration Commission, which will conduct arbitration in accordance with its then effective arbitration rules. The arbitration shall be conducted in Beijing, and the language used in the arbitration shall be Chinese. The arbitration award is final and can be enforced in any court with jurisdiction

[本页无正文，以下为签字页]

No content, signature page only

[本页无正文，为《代理协议》之签字页]

Signature page only

本协议各方或者其授权代表签署本协议

The parties to this agreement or their authorized representatives sign this agreement

甲方：佰迦康（辽宁）健康信息咨询服务有限公司

Party A: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

法定代表人/或被授权人(签字)：

Legal representative/Authorized Representative: (signature)

姓名：王增文

Name: Wang Zeng Wen

乙方:

Party B:

______________________________

孙秀芝Sun Xiu Zhi

中华人民共和国身份证号：211321195609273844

China ID card No.211321195609273844

______________________________

李静Li Jing

中华人民共和国身份证号：210711197902204028

China ID card No.210711197902204028

______________________________

李莹Li Ying

中华人民共和国身份证号：21092119811107216X

China ID card No.21092119811107216X

______________________________

苑晓燕Yuan Xiao Yan

中华人民共和国身份证号：130634198811023583

China ID card No.130634198811023583

______________________________

李杰Li Jie

中华人民共和国身份证号：370686200104227924

China ID card No.370686200104227924

______________________________

孙天柱Sun Tian Zhu

中华人民共和国身份证号：150426198704251559

China ID card No.150426198704251559

_______________________________________

## Exhibit 10.5

**Exhibit 10.5**

**股权处置协议**

**Equity Disposal Agreement**

本股权处置协议(下称"本协议")由下列各方(下称"协议各方")于2022年 11月27日在中国盘锦市签订:

This equity disposal agreement (hereinafter referred to as "this Agreement") is signed by and between the following parties (hereinafter referred to as "the parties") in Panjin, China on November 27, 2022

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司（"佰迦康辽宁"）

Party A:Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.("Baijiakang Liaoning ")

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

乙方:

Party B:

孙秀芝，身份证号：211321195609273844

Sun Xiu Zhi , ID No.：211321195609273844

地址: 辽宁省盘锦市兴隆台区创新街商东社区鹤翔路53-2-2-201

Address:53-2-2-201, Hexiang Road, Shangdong Community, Xininnovation Street, Xinglongtai District, Panjin City, Liaoning Province

李静，身份证号：210711197902204028

Li Jing , ID No.：210711197902204028

地址:辽宁省盘锦市兴隆台区振兴街设计院社区56-2-301

Address: 56-2-301, Zhenxing Street Design Institute Community, Xinglongtai District, Panjin City, Liaoning Province

李莹，身份证号：21092119811107216X

Li Ying , ID No.21092119811107216X

地址:辽宁省阜新蒙古族自治县卧凤沟乡七家子村七家子南地44号

Address:No. 44 Qizi Nandi, Qizi Village, Wufenggou Township, Fuxin Mongolian Autonomous County, Liaoning Province

苑晓燕，身份证号：130634198811023583

Yuan Xiao Yan , ID No.：130634198811023583

地址:河北省保定市曲阳县灵山镇横河口村39号

Address:39 Henghekou Village, Lingshan Town, Quyang County, Baoding City, Hebei Province

李杰，身份证号：370686200104227924

Li Jie, ID No.：370686200104227924

地址:山东省栖霞市寺口镇邴家岭村75号

Address:No.75, Bing Jialing Village, Sikou Town, Qixia City, Shandong Province

孙天柱，身份证号：150426198704251559

Sun Tian Zhu, ID No.：150426198704251559

地址:内蒙古赤峰市翁牛特旗亿合公镇四方地村大营子村民组

Address:Dayingzi Village Group, Sifang Di Village, Renhegong Town, Wengniute Banner, Chifeng City, Inner Mongolia

丙方: 辽宁康拜尔生物科技开发有限公司("康拜尔生物")

Party C:Liaoning Kangbaier Biotechnology Development Co., Ltd. ("Kangbaier Biotechnology")

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

**<u>鉴于:</u>**

**<u>As</u>**

&nbsp;&nbsp;&nbsp;&nbsp;1. 甲方系一家在中华人民共和国境内依法注册成立并有效存续的外商投资企业;

Party A is a foreign-invested enterprise registered and existing in the people's Republic of China;

&nbsp;&nbsp;&nbsp;&nbsp;2. 丙方是一家在中国注册成立的有限责任公司;

Party C is a limited liability company incorporated in China

&nbsp;&nbsp;&nbsp;&nbsp;3. 乙方各方为康拜尔生物的股东(合称"授权方"),其中,孙秀芝持有85.964%的股权，李静持有6%的股权，李莹持有3%的股权，苑晓燕持有3.5%的股权，李杰持有1.5%的股权，孙天柱持有0.036%的股权。

Party B is the shareholder of Kangbaier Biotechnology (collectively referred to as the "authorized party"), of which Sun Xiuzhi hold 85.964% equity，Li Jing hold 6% equity, Li Ying hold 3% equity,Yuan Xiaoyan hold 3.5 equity,Li Jie hold 1.5 equity, and Sun Tianzhu hold 0.036% equity

&nbsp;&nbsp;&nbsp;&nbsp;4. 甲方和乙方之间签署了股权质押协议, 在该协议项下乙方为康拜尔生物履行其在与甲方签署独家咨询和服务协议项下的义务提供担保。为确保该抵押权的安全, 并考虑到甲方所提供给康拜尔生物的技术支持以及各方之间的良好合作关系, 各方达成以下协议。

Party A and Party B have signed the equity pledge agreement, under which Party B guarantees Kangbaier Biotechnology to perform its obligations under the exclusive consultation and service agreement signed with Party A. In order to ensure the security of the mortgage, and in consideration of the technical support provided by Party A to Kangbaier Biotechnology and the good cooperative relationship between the parties, the parties have reached the following agreement.

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| **一.** | **授予选择权 Granting Options** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 授予 Grant

本协议各方同意, 自本协议生效之日起, 除非已向甲方披露并经甲方事先明确书面许可, 甲方拥有排他性的选择权, 依照本协议约定, 以行权时中华人民共和国法律法规所允许的最低价格由甲方或其指定的第三方随时购买授权方在康拜尔生物中所持有的全部或部分股权的选择权。乙方同意，作为丙方的股东，在乙方所持有的丙方股权转让给甲方之前，如果乙方从丙方合法获得了股息、红利或剩余财产，则在遵守中国法律的前提下并在缴纳中国法律所要求的税费之后，乙方应在取得该等所得后立即将全部所得支付给甲方。

The parties to this agreement agree that, from the effective date of this agreement, unless it has been disclosed to Party A and with the prior explicit written permission of Party A, Party A shall have the exclusive right of choice, in accordance with the provisions of this agreement, Party A or the third party designated by Party A shall at any time purchase all or part of the equity held by the authorized party in Kangbaier Biotechnology at the lowest price permitted by the laws and regulations of the people's Republic of China at the time of exercise. Party B agrees that, as a shareholder of Party C, if Party B legally obtains dividends, dividends or surplus property from Party C before the equity of Party C held by Party B is transferred to Party A, Party B shall, on the premise of complying with Chinese laws and after paying taxes required by Chinese laws, immediately pay all such income to Party A

本协议各方同意, 自本协议生效之日起, 除非已向甲方披露并经甲方事先明确书面许可, 甲方拥有排他性的选择权, 依照本协议约定,以行权时中华人民共和国法律法规所允许的最低价格由甲方或其指定的第三方随时购买康拜尔生物中所持有的全部或部分资产的选择权。

本协议经各方签署并生效后即授予甲方上述选择权, 并且该授权一经授予即在本协议有效期限(包括根据下文第1.2条的任何延长期)内不可撤销或变更。

The parties to this agreement agree that, from the effective date of this agreement, unless it has been disclosed to Party A and with the prior written permission of Party A, Party A has the exclusive option to purchase all or part of the assets held by Kangbaier Biotechnology at any time by Party A or its designated third party at the lowest price permitted by the laws and regulations of the people's Republic of China at the time of exercise.

Party A shall be granted the above option after this agreement is signed and effective by all parties, and the authorization shall be irrevocably or changed during the term of this Agreement (including any extension period according to Article 1.2 below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 期限 Validation

本协议由协议各方于文首标明的日期签署并生效。本协议有效期限为十年, 自本协议生效之日起起算。本协议期满前, 若甲方提出要求, 则各方应根据甲方的要求延长本协议的期限, 并依甲方要求另行签署股权处置协议或继续履行本协议。

This agreement is signed and effective by the parties on the date first above written. This Agreement shall be valid for ten years from the effective date of this agreement. Before the expiration of this agreement, if Party A requests, all parties shall extend the term of this agreement according to Party A's request, and sign another equity disposal agreement or continue to perform this agreement according to Party A's request.

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| **二.** | **行使选择权及交割 Exercise of options and Delivery** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 行权时间 Exercise
 Time

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1 授权方一致同意, 在中华人民共和国法律法规允许的前提下, 甲方可于本协议签署并生效后任何时间行使本协议项下的部分或全部选择权。

The authorized party agrees that, subject to the laws and regulations of the people's Republic of China, Party A may exercise part or all of the options under this agreement at any time after this agreement is signed and takes effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2 授权方一致同意, 甲方的行权次数没有限制, 除非其已经收购并持有了康拜尔生物的全部股权、资产。

The authorized party agrees that there is no limit on the number of times party A exercises its rights, unless it has acquired and held all the equity and assets of Kangbaier Biotechnology.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3 授权方一致同意, 甲方可以指定第三方作为其代表行使选择权, 但行权时, 甲方应当事先书面通知授权方。

The authorized party agrees that Party A may appoint a third party as its representative to exercise the right of choice, but Party A shall notify the authorized party in writing in advance when exercising the right

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 行权价款的处置 Disposal
 Exercise Price

授权方一致同意, 在甲方行权时授权方因此获得的全部行权价款无偿赠送给康拜尔生物, 或者以甲方书面同意的其他方式来实现该等行权价款从授权方到康拜尔生物的转移。

The authorized party agrees that when Party A exercises the right, all the exercise price obtained by the authorized party shall be presented toKangbaier Biotechnology free of charge, or the transfer of the exercise price from the authorized party to Kangbaier Biotechnology shall be realized by other ways agreed by Party A in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 转让 Transfer
 Possession

授权方一致同意, 本协议项下之选择权可部分或全部地由甲方转让给第三方, 该等转让无需再事先取得授权方的同意, 该第三方应当视为本协议的一方签约人按本协议之条件行使选择权, 并承担甲方在本协议项下的权利和义务。

The authorized party agrees that the option under this agreement can be transferred in part or in whole by Party A to a third party without prior consent of the authorized party. The third party shall be regarded as a party to this agreement, and the Contractor shall exercise the option according to the conditions of this Agreement and undertake the rights and obligations of Party A under this agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 行权通知 Notice

若甲方行权, 应于交割日(定义见下文)十个工作日前以书面方式通知授权方, 通知应具体载明如下条款:

If Party A exercises the right, it shall notify the authorized party in writing ten working days prior the delivery date (as defined below), and the notice shall specify the following terms:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.1 选择权行使后, 股权或资产之有效交割日期(以下简称"交割日");

The effective delivery date of the equity or assets after the exercise of the option (hereinafter referred to as the "delivery date");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.2 选择权行使后, 股权或资产所应登记的持有人姓名;

The name of the holder of the equity or assets that should be registered after the exercise of the option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.3 从授权人处分别购买的股权数量及其比例，或资产明细及数量;

The number and proportion of shares purchased from the authorized person, or the details and quantity of assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.4 行权价格及其支付方式;

Exercise price and payment method;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.5 授权委托书(若由甲方指定的第三方代为行权)。

Power of attorney (if the third party designated by Party A exercises the power on behalf of Party A).

协议各方同意, 甲方可随时指定第三方并以该第三方的名义行使选择权、登记股权或资产。

The parties agree that Party A may at any time appoint a third party to exercise the right of option, register the equity or assets in the name of such third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 转让股权 Equity
 Tranfer

甲方每次行使选择权时, 在收到甲方依据本协议第2.4条发出的行权通知之日起十个工作日内:

Each time Party A exercises the option, within 10 working days from the date of receiving the exercise notice issued by Party A in accordance with Article 2.4 of this Agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) 授权方应责成康拜尔生物及时召开股东会会议, 在该会议上, 应通过批准授权方向甲方和(或)其指定的第三方转让股权的股东会决议;

The authorized party shall instruct Kangbaier Biotechnology to hold a shareholders' meeting in time. At the meeting, the resolution of shareholders' meeting approving the authorized party to transfer the equity to Party A and / or the third party designated by it shall be passed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) 授权方应与甲方(或在适用的情况下, 为其指定的第三方)签署与本协议附件1所列的股权转让协议在实质内容上一致的转让协议;

The authorized party shall sign a transfer agreement with Party A (or, if applicable, the third party designated by it) which is consistent in substance with the equity transfer agreement listed in Annex 1 of this agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) 乙方各方应签署所有其他所需合同、协议或文件, 取得全部所需的政府批准和同意, 并采取所有所需行动, 在不附带任何担保权益的情况下, 将被购买的股权的有效所有权转移给甲方和(或)其指定的第三方, 并使甲方和(或) 其指定的第三方成为被购买的股权的工商登记在册所有人, 并向甲方或其指定的第三方提交由相关的中国有权机关颁发或备案登记的最新营业执照、章程和其他有关文件, 该等文件应反映康拜尔生物股权变更, 董事和法定代表人的变更等事项。

Party B shall sign all other required contracts, agreements or documents, obtain all required government approval and consent, and take all necessary actions to transfer the effective ownership of the Purchased Equity to Party A and / or its designated third party without any security interest, Party A and (or) the third party designated by Party A shall become the registered owner of the Purchased Equity, and submit to Party A or the third party designated by Party A the latest business license, articles of association and other relevant documents issued or registered by relevant Chinese authorities. Such documents shall reflect the changes of equity, directors and legal representatives of Kangbaier Biotechnology.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 转让资产 Asset
 Transfer

甲方每次行使选择权时, 在收到甲方依据本协议第2.4条发出的行权通知之日起十个工作日内:

Each time Party A exercises the option, within 10 working days from the date of receiving the exercise notice issued by Party A in accordance with Article 2.4 of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) 康拜尔生物应及时按照其公司章程规定召开（执行）董事会会议或股东会会议, 在该会议上, 应通过批准康拜尔生物向甲方和(或)其指定的第三方转让资产的决议;

Kangbaier Biotechnology shall timely hold (Executive) board meeting or shareholders' meeting in accordance with its articles of association. At the meeting, King Eagle Tianjin shall pass a resolution approving the transfer of assets to Party A and / or the third party designated by Kangbaier Biotechnology

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) 康拜尔生物应与甲方(或在适用的情况下, 为其指定的第三方)就相关资产转让签署转让协议;

Kangbaier Biotechnology shall sign the transfer agreement with Party A (or the third party designated by it if applicable) for the transfer of relevant assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) 康拜尔生物应签署所有其他所需合同、协议或文件, 取得全部所需的政府批准和同意, 并采取所有所需行动, 在不附带任何担保权益的情况下, 将被购买的资产的有效所有权转移给甲方和(或)其指定的第三方, 并使甲方和(或) 其指定的第三方成为被购买的资产的登记权利人(如适用)。

Kangbaier Biotechnology shall sign all other required contracts, agreements or documents, obtain all required government approval and consent, and take all necessary actions to transfer the effective ownership of the purchased assets to Party A and / or its designated third party without any security interest, And make Party A and / or the third party designated by Party A become the registered purchaser of the purchased assets (if applicable)

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| **三.** | **陈述及保证 Statement and Commitment** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 授权方作出如下陈述及保证:

The authorized party represents and warrants as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1 具有完整的权利及授权签订和履行本协议;

Have complete right and authorization to sign and perform this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.2 履行本协议并本协议项下之义务并不违反对其具有约束力的法律、法规及其他协议, 且不需要政府部门的批准或授权;

The performance of this Agreement and the obligations under this Agreement does not violate the binding laws, regulations and other agreements, and does not require the approval or authorization of government departments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.3 不存在任何未决的或可能实质性地影响本协议履行的诉讼、仲裁或其他的司法或行政程序;

There is no litigation, arbitration or other judicial or administrative proceedings pending or likely to substantially affect the performance of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.4 已经向甲方披露了所有可能对本协议履行产生不利影响的情况;

It has disclosed to Party A all situations that may adversely affect the performance of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.5 没有被宣告破产, 其财务状况稳健良好;

It has not been declared bankrupt and its financial position is sound

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.6 持有的康拜尔生物股权不存在任何质押、担保, 负债及其他第三方权利负担的情形, 并免受第三者追索，甲乙双方签订的股权质押协议约定除外;

The equity of Kangbaier Biotechnology is free from any pledge, guarantee, liability and other third party's rights and liabilities, and is free from recourse by the third party, except for the equity pledge agreement signed by Party A and Party B

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.7 不会在其持有的康拜尔生物股权上设置任何质押、负债及其他第三方权利负担的情形, 且不会以转让、赠与、质押或其他任何方式向甲方或其指定的第三方以外的其他人士处分其持有的股权;

It will not set any pledge, liabilities and other third party's rights and burdens on its equity of Kangbaier Biotechnology, and will not dispose of its equity to Party A or other persons other than the third party designated by Party A by means of transfer, gift, pledge or any other means

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.8 授予甲方的选择权应当是排他的, 授权方不得以其他任何方式向甲方或其指定的第三方以外的其他人士授予选择权或类似的权利;

The right of choice granted to Party A shall be exclusive, and the authorized party shall not grant the right of choice or similar rights to any person other than Party A or its designated third party in any other way

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.9 本协议有效期内, 康拜尔生物经营的业务符合法律、法规、规定和其它政府主管部门颁布的管理规定和指南, 并且不存在违反任何上述规定、以致对公司经营的业务或资产构成重大不利影响的情况;

During the term of this agreement, the business of Kangbaier Biotechnology complies with the laws, regulations, regulations and other management regulations and guidelines issued by the competent government departments, and there is no violation of any of the above regulations, which will have a significant adverse impact on the business or assets of the company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.10 按照良好的财务和商业标准及惯例, 保持康拜尔生物的存续。审慎及有效地经营其业务和处理事务, 尽其最大努力确保康拜尔生物持续其营运所需要的许可证、执照和批文等, 并且确保此类许可证、执照和批文等不被取消、撤回或宣告无效;

Maintain the existence of Kangbaier Biotechnology in accordance with good financial and commercial standards and practices. Prudently and effectively conduct its business and conduct its affairs, and use its best efforts to ensure that Kangbaier Biotechnology continues to operate with the necessary permits, licenses and approvals, and that such permits, licenses and approvals will not be cancelled, withdrawn or declared invalid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.11 应甲方的要求, 向其提供所有关于康拜尔生物的营运及财务资料;

At the request of Party A, provide all the operation and financial information of Kangbaier Biotechnology

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.12 在甲方(或其指定的第三方)行使选择权并取得康拜尔生物的全部股权或资产之前, 除非取得甲方(或其指定的第三方)的书面同意, 否则康拜尔生物不得进行如下行为:

Before Party A (or the third party designated by Party A) exercises the right of option and obtains all equity or assets of Kangbaier Biotechnology, Kangbaier Biotechnology shall not do any of the following unless it obtains the written consent of Party A (or the third party designated by Party A)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 出售、转让、抵押或以其他方式处置任何资产、业务或收入, 或允许在其上设置任何其他担保权益(正常或日常业务过程中产生的或已向甲方披露并得到甲方事先明确书面同意的除外);

Sell, transfer, mortgage or otherwise dispose of any asset, business or income, or allow to set up any other security interest on it (except those arising in the normal or ordinary course of business or disclosed to Party A with Party A's prior explicit written consent); and;

(b) 达成将实质性不利影响其资产、责任、运营、股权及其它合法权利的交易(正常或日常业务过程中产生的或已向甲方披露并得到甲方事先明确书面同意的除外);

Enter into a transaction that will materially and adversely affect its assets, liabilities, operations, equity and other legitimate rights (except those arising in the course of normal or daily business or disclosed to Party A with Party A's prior explicit written consent);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 以任何形式派发股息、红利予各股东;

To distribute dividends and bonus to shareholders in any form;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) 发生、继承、保证或允许存在任何债务, 但(i)正常或日常业务过程中产生而不是通过借款方式产生的债务;
 (ii)已向甲方披露并得到甲方事先明确书面同意的债务除外;

Incurs, inherits, guarantees or permits the existence of any debt, but (I) arises in the normal or ordinary course of business and not by way of borrowing money（ II) except for debts that have been disclosed to Party A and have been expressly agreed in writing by Party A in advance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) 签订任何重大合同, 但在正常业务过程中签订的合同除外(就本段而言, 如果一份合同价值超过人民币100万元, 即被视为重大合同);

Enter into any material contract, except in the normal course of business (for the purposes of this paragraph, if the value of a contract exceeds RMB 1 million, it shall be regarded as a material contract);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) 通过股东会决议增加或减少康拜尔生物的注册资本, 或另行更改注册资本的结构;

To increase or decrease the registered capital of Kangbaier Biotechnology through the resolution of the shareholders' meeting, or to change the structure of the registered capital separately;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) 以任何形式补充、更改或修改康拜尔生物的公司章程;

Supplement, change or modify the articles of association of Kangbaier Biotechnology in any form

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) 与任何人合并或联合, 或收购任何人或向任何人投资。

To merge or associate with any person, or to acquire or invest in any person

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.13 在甲方(或其指定的第三方)行使选择权取得康拜尔生物的全部股权或资产之前, 除甲方(或其指定的第三方)明确书面同意外, 乙方各方不得共同或单方进行如下行为:

Before Party A (or the third party designated by Party A) exercises the right of option to acquire all equity or assets of Kangbaier Biotechnology, Party B shall not jointly or unilaterally carry out the following acts unless Party A (or the third party designated by Party A) expressly agrees in writing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 以任何形式补充、更改或修改康拜尔生物的章程性文件, 且该等补充、更改或修改将实质性不利影响康拜尔生物的资产、责任、运营、股权及其它合法权利(为满足法律要求而进行同比例增资的情形除外), 或者可能影响本协议以及甲方、乙方、康拜尔生物签署的其他协议的有效履行;

Supplement, change or modify the articles of association of Kangbaier Biotechnology in any form, and such supplement, change or modification will substantially and adversely affect the assets, liabilities, operation, equity and other legal rights of Kangbaier Biotechnology (except for the case of capital increase in the same proportion to meet the legal requirements), or may affect this Agreement and Party A, Party B and Effective performance of other agreements signed by Kangbaier Biotechnology;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 促使康拜尔生物达成将实质性不利影响康拜尔生物的资产、责任、运营、股权及其它合法权利的交易(正常或日常业务过程中产生的或已向甲方披露并得到甲方事先明确书面同意的除外);

Urge Kangbaier Biotechnology to enter into a transaction that will substantially and adversely affect Kangbaier Biotechnology's assets, liabilities, operations, equity and other legal rights (except those arising in the normal or daily business process or which have been disclosed to Party A and obtained Party A's explicit written consent in advance); and;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 促使康拜尔生物的股东会通过分派股息、红利的决议;

To urge the shareholders' meeting of Kangbaier Biotechnology to pass the resolution of dividend distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) 在本合同生效之日起的任何时间出售、转让、抵押或以其他方式处置任何康拜尔生物的股权的合法或受益权益, 或允许在其上设置任何其他担保权益;

Sell, transfer, mortgage or otherwise dispose of the legal or beneficial interest of any equity of Kangbaier Biotechnology at any time since the effective date of this contract, or allow to set any other security interest on it;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) 促使康拜尔生物股东会批准出售、转让、抵押或以其他方式处置任何股权的合法或受益权益, 或允许在其上设置任何其他担保权益;

Urge the board of shareholders of Kangbaier Biotechnology to approve the sale, transfer, mortgage or other disposal of the legal or beneficial interests of any equity, or allow the establishment of any other security interests on it;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) 促使康拜尔生物股东会批准康拜尔生物与任何人合并或联合, 或收购任何人或向任何人投资, 或其他任何形式的重组;

Urge the board of shareholders of Kangbaier Biotechnology to approve the merger or association of Kangbaier Biotechnology with any person, or the acquisition or investment of any person, or any other form of restructuring;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) 自行结业、清算或解散康拜尔生物。

Self-Liquidating, liquidation or dissolution of Kangbaier Biotechnology

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.14 在甲方(或其指定的第三方)行使选择权取得康拜尔生物的全部股权或资产之前, 乙方各方承诺:

Before Party A (or its designated third party) exercises the right of option to acquire all equity or assets of Kangbaier Biotechnology, Party B undertakes that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 立即书面通知甲方发生或可能发生的任何关于其所拥有的股权的诉讼、仲裁或行政程序, 或者可能对该等股权产生任何不利影响的情形;

Immediately notify Party A in writing of any litigation, arbitration or administrative proceedings that have occurred or may occur with respect to the equity owned by Party A, or any circumstance that may have any adverse effect on such equity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 促使康拜尔生物股东会审议批准本协议规定的被购买的股权的转让, 促使康拜尔生物修改其公司章程以反映股权自乙方各方向甲方和(或)其指定的第三方的转移, 以及本协议所述的其他变更事项, 并立即向中国的有权机关申请批准(如法律要求该等批准)、办理变更登记, 促使康拜尔生物通过股东会决议批准任命甲方和(或)其指定的第三方所指派的人士为新董事和新法定代表人;

Urge the shareholders' meeting of Kangbaier Biotechnology to examine and approve the transfer of the Purchased Equity specified in this agreement, urge Kangbaier Biotechnology to amend its articles of association to reflect the transfer of equity from Party B to Party A and / or its designated third party, and other changes described in this agreement, and immediately apply to the competent authorities in China for approval (if such approval is required by law) and change registration, Urge Kangbaier Biotechnology to approve the appointment of Party A and / or the third party designated by Party A as the new director and new legal representative through the resolution of the shareholders' meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 为保持其对股权的合法、有效的所有权, 签署所有必要或适当的文件, 采取所有必要或适当的行动和提出所有必要或适当的控告或对所有索偿进行必要和适当的抗辩;

In order to maintain its legal and effective ownership of the equity, sign all necessary or appropriate documents, take all necessary or appropriate actions and make all necessary or appropriate complaints or make all necessary and appropriate defenses against all claims

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) 经甲方随时要求, 应向其指定的第三方在任何时间无条件地并立即转让其股权, 并放弃其对另一现有股东进行上述股权转让所享有的优先购买权;

Upon Party A's request at any time, Party A shall transfer its equity unconditionally and immediately to the third party designated by Party A at any time, and give up its preemptive right to another existing shareholder for the above equity transfer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) 严格遵守本合同及乙方各方与甲方共同或分别签订的其他合同的各项规定, 切实履行该等合同项下的各项义务, 并不进行任何足以影响该等合同的有效性和可执行性的作为/不作为。

Strictly abide by the provisions of this contract and other contracts jointly or separately signed by Party B and Party A, earnestly perform the obligations under such contracts, and do not do any act / omission that may affect the validity and enforceability of such contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 承诺 Commitment

授权方向甲方承诺, 授权方承担因股权转让所产生的所有费用, 并办理甲方和(或)其指定的第三方成为康拜尔生物股东之所有必须的手续。手续包括但不限于协助甲方取得政府部门对股权转让相关的必要批准, 向相关的工商管理部门递交股权转让协议、股东会决议等文件, 以及修改公司章程、股东名册以及其他公司章程性文件。

The authorized party undertakes to Party A that the authorized party shall bear all expenses arising from the equity transfer and go through all necessary procedures for Party A and / or its designated third party to become a shareholder of Kangbaier Biotechnology. The procedures include, but are not limited to, assisting Party A to obtain necessary approval from government departments for equity transfer, submitting equity transfer agreement, resolutions of shareholders' meeting and other documents to relevant industrial and commercial administration departments, and amending articles of association, register of shareholders and other articles of Association documents

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 乙方各方特此在本合同签署之日和每一个交割日向甲方共同及个别陈述和保证如下:

three point three Party B hereby represents and warrants to party a jointly and severally on the date of signing this contract and each delivery date as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) 其具有签订和交付本合同和其为一方的、根据本合同为每一次转让被购买的股权而签订的任何股权转让协议(各称为"转让协议"), 以及履行其在本合同和任何转让协议项下的义务的权力和能力。本合同和其是一方的各转让协议一旦签署后, 将对其构成合法、有效及具有约束力的义务并可按照其条款对其强制执行;

It has the power and ability to enter into and deliver this contract and any equity transfer agreement (each referred to as the "transfer agreement") to which it is a party for each transfer of the Purchased Equity under this contract, and to perform its obligations under this contract and any transfer agreement. Once signed, this contract and each assignment agreement to which it is a party will constitute legal, valid and binding obligations, and can be enforced in accordance with its terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) 无论是本合同或任何转让协议的签署和交付还是其在本合同或任何转让协议项下的义务的履行均不会:
 (i)导致违反任何有关的中国法律法规; (ii)与其章程或其他组织文件相抵触;
 (iii)导致违反其是一方或对其有约束力的任何合同或文据;
 (iv)导致违反有关向它颁发的任何许可或批准的授予和(或)继续有效的任何条件; 或(v)导致向它颁发的任何许可或批准中止或被撤销或附加条件;

Neither the signing and delivery of this contract or any assignment agreement nor the performance of its obligations under this contract or any assignment agreement will: (I) result in violation of any relevant Chinese laws and regulations（II) conflict with its articles of association or other organizational documents（III) result in a breach of any contract or instrument to which it is a party or by which it is bound（IV) result in a breach of any conditions relating to the grant and / or continued validity of any license or approval granted to it; Or (V) causes any license or approval granted to it to be suspended or revoked or subject to conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) 乙方各方对康拜尔生物的所有股权拥有良好和可出售的所有权。乙方各方在上述股权上没有设置任何担保权益;

Party B shall have good and marketable ownership of all equity of Kangbaier Biotechnology. Party B does not have any security interest in the above equity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) 康拜尔生物没有任何未偿还债务, 除(i)在其正常的业务过程中发生的债务, 及(ii)已向甲方披露及经甲方事先明确书面同意的债务除外;

Kangbaier Biotechnology has no outstanding debts, except (I) debts incurred in the normal course of its business, and (II) debts disclosed to Party A and with the prior explicit written consent of Party A;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) 康拜尔生物遵守适用于股权和资产的收购的所有法律和法规;

Kangbaier Biotechnology complies with all laws and regulations applicable to the acquisition of equity and assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) 目前没有正在进行或悬而未决或可能发生的与康拜尔生物股权、资产有关的或与康拜尔生物有关的诉讼、仲裁或行政程序。

At present, there are no ongoing or pending litigation, arbitration or administrative procedures related to the equity and assets of Kangbaier Biotechnology or Kangbaier Biotechnology.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 康拜尔生物作出如下陈述及保证:

Kangbaier Biotechnology represents and warrants as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.1 具有完整的权利及授权签订和履行本协议;

It has complete right and authorization to sign and in compliance with this agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.2 履行本协议并本协议项下之义务并不违反对其具有约束力的法律、法规及其他协议, 且不需要政府部门的批准或授权;

The implementation of this Agreement and its obligations under its terms does not violate the binding laws, regulations and other agreements, and does not require the approval or authorization of government departments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.3 不存在任何未决的或可能实质性地影响本协议履行的诉讼、仲裁或其他的司法或行政程序;

There is no litigation, arbitration or other judicial or administrative proceedings pending or likely to substantially affect the performance of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.4 已经向甲方披露了所有可能对本协议履行产生不利影响的情况;

Party B has disclosed to Party A all situations that may adversely affect the performance of this agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.5 没有被宣告破产, 其财务状况稳健良好;

It has not been declared bankrupt and its maintained sound healthy financial condition

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.6 除已向甲方披露者外，康拜尔生物资产上不存在任何质押、担保, 负债及其他第三方权利负担的情形, 并免受第三者追索，甲乙双方签订的股权质押协议约定除外;

Except for those disclosed to Party A, there is no pledge, guarantee, liability or other third party's burden on the assets of Kangbaier Biotechnology, and it is free from recourse of the third party, except for the equity pledge agreement signed by Party A and Party B

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.7 未经甲方事先书面同意，不会在其持有的资产上设置任何质押、抵押、负债及其他第三方权利负担的情形, 且不会以转让、赠与、抵押、质押或其他任何方式向甲方或其指定的第三方以外的其他人士处分其持有的资产;

Without Party A's prior written consent, it will not set any pledge, mortgage, liability and other third party's rights and burdens on the assets it holds, and will not dispose of the assets it holds to any person other than Party A or the third party designated by Party A by means of transfer, gift, mortgage, pledge or any other means

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.8 授予甲方的选择权应当是排他的, 康拜尔生物不得以其他任何方式向甲方或其指定的第三方以外的其他人士授予选择权或类似的权利;

The right of option granted to Party A shall be exclusive, and Kangbaier Biotechnology shall not grant the right of option or similar rights in any other way to any person other than Party A or its designated third party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.9 本协议有效期内, 康拜尔生物经营的业务符合法律、法规、规定和其它政府主管部门颁布的管理规定和指南, 并且不存在违反任何上述规定、以致对公司经营的业务或资产构成重大不利影响的情况;

During the term of this agreement, the business of Kangbaier Biotechnology complies with the laws, regulations, regulations and other management regulations and guidelines issued by the competent government departments, and there is no violation of any of the above regulations, which will have a significant adverse impact on the business or assets of the company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.10 按照良好的财务和商业标准及惯例, 保持康拜尔生物的存续。审慎及有效地经营其业务和处理事务, 尽其最大努力确保康拜尔生物持续其营运所需要的许可证、执照和批文等, 并且确保此类许可证、执照和批文等不被取消、撤回或宣告无效;

Maintain the existence of Kangbaier Biotechnology in accordance with good financial and commercial standards and practices. Prudently and effectively conduct its business and conduct its affairs, and use its best efforts to ensure that Kangbaier Biotechnology continues to operate with the necessary permits, licenses and approvals, and that such permits, licenses and approvals will not be cancelled, withdrawn or declared invalid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.11 应甲方的要求, 向其提供所有关于康拜尔生物的营运及财务资料;

At the request of Party A, provide all the operation and financial information of Kangbaier Biotechnology

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.12 采取一切合理及必要的措施及经营康拜尔生物业务，努力促使康拜尔生物资产的保值、增值。

Take all reasonable and necessary measures to manage Kangbaier Biotechnology business and strive to maintain and increase the value of Kangbaier Biotechnology assets

---

| | |
|:---|:---|
| **四.** | **税收 Taxation** |

---

本协议履行中各方所产生的税赋由各方自行承担。

The taxes generated by each party during the exercise of this Agreement shall be borne by each party

---

| | |
|:---|:---|
| **五.** | **违约 Breach Agreement** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 若乙方或丙方违反本协议或其在本协议中所作出的任何陈述、保证, 甲方可以书面形式通知违约方要求其在收到通知书十日内纠正违约行为, 采取相应措施有效及时地避免损害结果的发生, 并继续履行本协议。若发生损害, 违约方应对甲方作出补偿, 以使得甲方获得合同履行时应得的所有权益。

If Party B or Party C violates this agreement or any of its representations and guarantees in this agreement, Party A may notify the defaulting party in writing, requiring it to correct the breach within ten days after receiving the notice, take corresponding measures to effectively and timely avoid the occurrence of damage, and continue to perform this agreement. In case of any damage, the breaching party shall compensate Party A so that Party A can obtain all the rights and interests it deserves when performing the contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 如乙方或丙方不能依据上述5.1条的约定在收到通知后十日内纠正其违约行为, 甲方有权要求违约方应就甲方因违约方遭受的任何费用、责任或损失(包括但不限于因违约而支付或损失的利息以及律师费)赔偿甲方。同时, 甲方有权执行本协议附件之股权转让协议将乙方持有的股权转让于甲方和(或)其指定的第三方。

If Party B or Party C fails to correct the breach within ten days after receiving the notice in accordance with the above-mentioned 5.1, Party A has the right to require the breaching party to compensate Party A for any expenses, liabilities or losses (including but not limited to the interest paid or lost by Party A due to the breach of contract and the attorney's fees). Meanwhile, Party A has the right to implement the equity transfer agreement attached to this agreement to transfer the equity held by Party B to Party A and / or the third party designated by Party A

---

| | |
|:---|:---|
| **六.** | **管辖法律及争议解决 Jurisdiction and Disputes** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 管辖之法律 Jurisdiction
 Law

中华人民共和国法律为本协议之适用法律, 包括但不限于本协议之完成、履行、效力及解释。

The laws of the people's Republic of China shall be applicable to this agreement, including but not limited to the completion, performance, validity and interpretation of this agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 友好协商 Friendly
 Negotiation

若因本协议之解释或履行产生争议, 协议各方应当通过友好协商或中间第三方调解来解决该争议。若争议无法通过上述方式解决, 应于上述相关讨论开始之日起30日内将争议提交仲裁机关解决。

In case of any dispute arising from the interpretation or performance of this agreement, the parties shall settle the dispute through friendly negotiation or mediation by an intermediate third party. If the dispute cannot be settled by the above-mentioned means, it shall be submitted to the arbitration authority for settlement within 30 days from the date of the above-mentioned relevant discussion

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 仲裁 Arbitration

因本协议产生的任何争议应当提交中国国际经济贸易仲裁委员会(北京)按其仲裁规则仲裁。仲裁地为北京。仲裁裁决为最终的, 对协议各方皆具有约束力。

Any dispute arising from this Agreement shall be submitted to China International Economic and Trade Arbitration Commission (Beijing) for arbitration in accordance with its arbitration rules. The place of arbitration shall be Beijing. The arbitration award shall be final and binding on all parties.

---

| | |
|:---|:---|
| **七.** | **保密 Confidential** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 保密信息 Confidential
 Information

本协议及其附件之内容应当保密。协议各方不得将本协议之任何信息向任何第三方披露(事先获得协议各方书面同意的除外)。本条款在本协议终止后仍然有效。

The contents of this Agreement and its attachments shall be kept confidential. The parties shall not disclose any information of this agreement to any third party (except with the prior written consent of the parties). This clause shall survive the termination of this agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 例外 Exceptions

若依据法律、法院判决、仲裁裁决以及政府管理机关、证券监管部门、证券交易所、股票交易机构的决定或要求应当披露保密信息的, 则该信息的披露不应视为对上述7.1条的违反。

If confidential information should be disclosed in accordance with laws, court decisions, arbitration awards and decisions or requirements of government authorities, securities regulatory authorities, stock exchanges and stock exchange institutions, the disclosure of such information shall not be deemed as a violation of Article 7.1 above

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| | |
|:---|:---|
| **八.** | **其他 Others** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 全部协议 Completion
 of the Agreement

各方在此确认本协议为各方在平等互利的基础之上达成的公平合理的约定。本协议构成协议各方关于协议所涉及主题的全部, 先前的所有讨论、协商及协议若与本协议不一致, 以本协议为准。本协议应由协议各方以书面方式修改。本协议的附件为本协议的组成部分, 与本协议具有相同的效力。

The parties hereby confirm that this agreement is a fair and reasonable agreement reached by the parties on the basis of equality and mutual benefit. This Agreement constitutes all the parties to the agreement on the subject matter involved in the agreement. If any previous discussions, negotiations and agreements are inconsistent with this agreement, this Agreement shall prevail. This Agreement shall be amended by the parties in writing. The annex to this agreement is an integral part of this Agreement and has the same effect as this Agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 通知 Notice

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.1 本协议各方为履行本协议项下的权利、义务所发出的通知, 都应以书面做成, 并以专人递送、挂号邮寄、邮资预付邮寄、认可的速递服务、或图文传真的形式发送到有关一方或各方下列的地址:

All notices given by the parties to this Agreement for the performance of their rights and obligations under this Agreement shall be made in writing and sent by hand delivery, registered mail, prepaid mail, recognized courier service, or fax to the following addresses of the party or parties concerned:

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司

Party A:Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

电话：13998785999

Phone:13998785999

收件人:王增文

Recipient: Wang Zengwen

---

| |
|:---|
| 乙方： |
| Party B: |
| 孙秀芝Sun Xiu Zhi |
| 中华人民共和国身份证号：211321195609273844 |
| China ID card No.211321195609273844 |
| 李静Li Jing |
| 中华人民共和国身份证号：210711197902204028 |
| China ID card No.210711197902204028 |
| 李莹Li Ying |
| 中华人民共和国身份证号：21092119811107216X |
| China ID card No.21092119811107216X |
| 苑晓燕Yuan Xiao Yan |
| 中华人民共和国身份证号：130634198811023583 |
| China ID card No.130634198811023583 |
| 李杰Li Jie |
| 中华人民共和国身份证号：370686200104227924 |
| China ID card No.370686200104227924 |
| 孙天柱Sun Tian Zhu |
| 中华人民共和国身份证号：150426198704251559 |
| China ID card No.150426198704251559 |

---

---

| |
|:---|
| 丙方: 辽宁康拜尔生物科技开发有限公司 |
| Party C: Liaoning Kangbaier Biotechnology Development Co., Ltd. |
| 地址: 辽宁省盘锦市兴隆台区赵家1-17-1号 |
| Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province |
| 电话：15842767931 |
| Phone:15842767931 |
| 收件人:孙秀芝 |
| Recipient: Sun Xiuzhi |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.2 通知及信函于以下情况时应当视为送达:

A notice or letter shall be deemed to have been served under the following circumstances

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.2.1 若以传真方式送达, 以传真上显示的日期记录为准, 但是当该传真晚于下午5点或于送达地的非工作日送达, 则应当以显示的日期记录的下一工作日为送达日;

If the fax is delivered by fax, the date record on the fax shall prevail. However, if the fax is delivered later than 5 pm or on a non working day in the place of delivery, the next working day of the date record on the fax shall be the date of delivery;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.2.2 若以专人送达(包括特快专递), 则以签收日为准;

If it is delivered by hand (including express mail), the date of receipt shall prevail;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.2.3 若以挂号信的方式送达, 则以挂号信回执上日期后的第15日为准。

If it is delivered by registered mail, the 15th day after the date on the receipt of the registered mail shall prevail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.3 约束力 Restrictions

本协议对协议各方皆具有约束力。

This Agreement shall be binding on all parties

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 语言 Language

本协议一式八份, 以中文书写, 协议各方各执一份。

This agreement is made in eight copies, written in Chinese, with each party holding one copy

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 日及工作日 Days
 and Working days

本协议中所指的"日"按日历上的日期; 本协议所指的"工作日"为周一至周五。

"Day" referred to in this Agreement shall be the date on the calendar; The "working days" referred to in this Agreement are from Monday to Friday

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5 标题 Headings

本协议各标题仅为方便阅读, 不可作为协议解释之用。

The headings of this Agreement are for convenience only and shall not be used for the interpretation of this agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6 附则 Supplementary

授权方在本协议下对甲方的义务、承诺和责任均为单独和共同的, 且授权方相互承担连带责任。就甲方而言, 授权方中任何一方的违约即自动构成授权方的违约.

The obligations, promises and liabilities of the authorized party to Party A under this Agreement are separate and joint, and the authorized parties shall bear joint and several liabilities. As far as Party A is concerned, the default of any one of the authorized parties will automatically constitute the default of the authorized party

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7 未决事项 Pending
 Issues

就本协议未规定之事项, 协议各方应通过协商按中华人民共和国法律解决。

**For matters not specified in this agreement, the parties shall settle them through negotiation in accordance with the laws of the people's Republic of China**

[此页无正文, 为《股权处置协议》签署页]

Signature Page Only

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司

Party A: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

授权代表:<u> </u>

Authorized Representative:<u> </u>

[此页无正文, 为《股权处置协议》签署页]

Signature Page Only

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| | |
|:---|:---|
| 乙方: Party B |  |
| 孙秀芝 Sun Xiu Zhi | 李静 Li Jing |
| 李莹Li Ying | 苑晓燕 Yuan Xiao Yan |
| 李杰 Li Jie | 孙天柱 Sun Tian Zhu |

---

[此页无正文, 为《股权处置协议》签署页]

Signature Page Only

丙方:

Party C:

辽宁康拜尔生物科技开发有限公司

Liaoning Kangbaier Biotechnology Development Co., Ltd.

授权代表:<u> </u>

Authorized Representative:<u> </u>

**<br> 附件1: 股权转让协议 Attachment 1: Equity Transfer Agreement**

**股权转让协议**

**Equity Transfer Agreement**

本股权转让协议(下称"本协议")由以下各方于[2022 ]年[11 ]月[27]日在盘锦签订:

This equity transfer agreement (hereinafter referred to as "this Agreement") is signed by and between the following parties in Panjin on the day of November 27, 2022.

甲方:佰迦康（辽宁）健康信息咨询服务有限公司

Party A: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

乙方:

Party B:

孙秀芝，身份证号：211321195609273844

Sun Xiu Zhi , ID No.211321195609273844

地址: 辽宁省盘锦市兴隆台区创新街商东社区鹤翔路53-2-2-201

Address:53-2-2-201, Hexiang Road, Shangdong Community, Xininnovation Street, Xinglongtai District, Panjin City, Liaoning Province

李静，身份证号：210711197902204028

Li Jing , ID No.210711197902204028

地址:辽宁省盘锦市兴隆台区振兴街设计院社区56-2-301

Address: 56-2-301, Zhenxing Street Design Institute Community, Xinglongtai District, Panjin City, Liaoning Province

李莹，身份证号：21092119811107216X

Li Ying , ID No.21092119811107216X

地址:辽宁省阜新蒙古族自治县卧凤沟乡七家子村七家子南地44号

Address:No. 44 Qizi Nandi, Qizi Village, Wufenggou Township, Fuxin Mongolian Autonomous County, Liaoning Province

苑晓燕，身份证号：130634198811023583

Yuan Xiao Yan , ID No.130634198811023583

地址:河北省保定市曲阳县灵山镇横河口村39号

Address:39 Henghekou Village, Lingshan Town, Quyang County, Baoding City, Hebei Province

李杰，身份证号：370686200104227924

Li Jie, ID No.370686200104227924

地址:山东省栖霞市寺口镇邴家岭村75号

Address:No.75, Bing Jialing Village, Sikou Town, Qixia City, Shandong Province

孙天柱，身份证号：150426198704251559

Sun Tian Zhu, ID No.150426198704251559

地址:内蒙古赤峰市翁牛特旗亿合公镇四方地村大营子村民组

Address:Dayingzi Village Group, Sifang Di Village, Renhegong Town, Wengniute Banner, Chifeng City, Inner Mongolia

丙方: 辽宁康拜尔生物科技开发有限公司

Party C: Liaoning Kangbaier Biotechnology Development Co., Ltd.

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

在本合同中, 甲方、乙方和丙方以下各称"一方", 合称"各方"。

In this contract, Party A, Party B and Party C are hereinafter referred to as "party" and collectively as "parties".

鉴于:

As

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. 甲方是一家在中华人民共和国(下称"中国")注册成立并存续的外商投资企业;

Party A is a foreign-invested enterprise registered and existing in the people's Republic of China (hereinafter referred to as "China");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. 丙方是一家在中国盘锦市注册的全内资公司, 目前, 乙方合计持有丙方100%的股权(下称"有关股权"); 和

Party C is a wholly domestic company registered in Panjin, China. At present, Party B holds 100% equity of Party C (hereinafter referred to as "relevant equity"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. 乙方愿意遵照其和甲方于[
 ]年[ ]月[ ]日签署的《股权处置协议》的相关规定, 在甲方和(或)其指定的第三方行使其选择权之时, 向甲方和(或)其指定的第三方转让其所持有的丙方的部分或全部股权, 甲方和(或)其指定的第三方同意受让该股权(下称"股权转让")。

Party B is willing to transfer part or all of Party C's equity to Party A and / or its designated third party when Party A and / or its designated third party exercise its option in accordance with the relevant provisions of the equity disposal agreement signed by Party A and Party A on [] and Party A and / or its designated third party agree to transfer the equity (hereinafter referred to as "equity transfer").

据此, 双方协商一致, 达成如下协议:

Accordingly, the two parties have reached the following agreement through consultation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.** **股权转让 Equity Transfer** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 乙方同意将有关股权转让给甲方, 
 其中乙方中的孙秀芝转让85.964%的股权，乙方中的李静转让6%的股权，乙方中的李莹转让3%的股权,
 乙方中的苑晓燕转让3.5%的股权, 乙方中的李杰转让1.5%的股权,乙方中的孙天柱转让0.036%的股权,
 甲方同意接受该等转让。转让完成后,
 甲方持有丙方100%的股权。

Party B agrees to transfer the relevant equity to Party A. Among them, Sun Xiuzhi from Party B shall transfer 85.964% of the equity, Li Jing from Party B shall transfer 6% of the equity, Li Ying from Party B shall transfer 3% of the equity, Yuan Xiaoyan from Party B shall transfer 3.5% of the equity, Li Jie from Party B shall transfer 1.5% of the equity, and Sun Tianzhu from Party B shall transfer 0.036% of the equity. Party A agrees to accept such transfer. Upon completion of the transfer, Party A shall hold 100% of the equity of Party C.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 作为股权转让的对价, 甲方应按照第2条的规定向乙方中的孙秀芝支付人民币____元,
 向乙方中的李静支付人民币____元,向乙方中的李莹支付人民币____元，向乙方中的苑晓燕支付人民币____元，向乙方中的李杰支付人民币____元，向乙方中的孙天柱支付人民币____元。

As consideration for equity transfer, Party A shall, in accordance with Article 2, pay ____ RMB Yuan to Sun Xiuzhi of Party B, ____ RMB Yuan to Li Jing of Party B, ____ RMB Yuan to Li Ying of Party B, ____ RMB Yuan to Yuan Xiaoyan of Party B, ____ RMB Yuan to Li Jie of Party B, Pay____ RMB to Sun Tianzhu of Party B.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 乙方同意本条下的股权转让行为, 并且愿意并将促使丙方的其他股东(除乙方外)愿意为此签署包括股东会决议和放弃优先购买有关股权的函件等在内的必要文件和协助办理股权转让的其他必要手续。

Party B agrees to the equity transfer under this article, and is willing and will urge other shareholders of Party C (except Party B) to sign necessary documents including the resolution of the shareholders' meeting and the letter of giving up preemptive purchase of relevant equity, and assist in handling other necessary procedures for equity transfer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 乙方和丙方应共同和分别的负责采取所有必要的行动, 包括但不限于签署本协议、通过股东会决议、章程修正案等内容, 以实现股权从乙方到甲方的转移, 并且负责在甲方根据《股权处置协议》的规定发出行权通知之日起十个工作日内办理完毕所有政府批准或工商登记备案手续, 使甲方成为该等股权的登记在册所有人。

Party B and Party C shall be jointly and separately responsible for taking all necessary actions, including but not limited to signing this agreement, passing resolutions of the shareholders' meeting, amendments to the articles of association, etc., to realize the transfer of equity from Party B to Party A, And shall be responsible for completing all government approval or industrial and commercial registration and filing procedures within 10 working days from the date Party A issues the notice of exercise in accordance with the provisions of the equity disposal agreement, so as to make Party A the registered owner of such equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.** **股权转让款的支付 Equity Transfer Payment** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 甲方在其签署本协议之日后5个工作日内向孙秀芝支付人民币____元,
 向李静支付人民币____元,向李莹支付人民币____元，向苑晓燕支付人民币____元，向李杰支付人民币____元，向孙天柱支付人民币____元；在与股权转让有关的所有政府批准及/或登记备案手续完成之日后5个工作日向孙秀芝支付人民币____元,
 向李静支付人民币____元,向李莹支付人民币____元，向苑晓燕支付人民币____元，向李杰支付人民币____元，向孙天柱支付人民币____元。转让金额将在股份转让时确定。

Party A shall pay____ RMB to Sun Xiuzhi, pay____ RMB to Li Jing, pay____ RMB toLi Ying, pay____ RMB toYuan Xiaoyan, pay____ RMB toLi Jie,pay____ RMB to Sun Tianzhu within 5 working days after the signing of this Agreement. Five business days after the completion of all government approvals and/or registration filings in connection with the transfer of shares pay____ RMB to Sun Xiuzhi, pay____ RMB to Li Jing, pay____ RMB toLi Ying, pay____ RMB toYuan Xiaoyan, pay____ RMB toLi Jie,pay____ RMB to Sun Tianzhu.Transfer amount would be determined upon the transfer of shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 乙方在收到第2.1条所述的每笔付款的5个工作日内向甲方出具适当的收款凭证。

Party B shall issue appropriate receipt to Party A within 5 working days after receiving each payment mentioned in Article 2.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.** **声明与保证 Proclamation and Commitment** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 本协议的各方分别声明与保证如下:

Each party hereby represents and warrants as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 该方是合法成立并且存续的公司或者具有完全民事行为能力的个人, 具有完整的权力和能力签署并履行本协议和实现本协议的目的所需的与本协议相关的其他文件;

The party is a legally established and existing company or an individual with full capacity for civil conduct, and has complete power and ability to sign and perform this Agreement and other documents related to this agreement required to achieve the purpose of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 该方已采取, 或将采取所有必要的行动, 以适当和有效地授权本协议及其它所有与本协议项下交易有关的文件的签署、交付和履行, 且该等签署、交付和履行不违反任何有关的法律法规和政府规定, 并且不侵犯任何第三方的合法权利和利益。

Such party has taken or will take all necessary actions to properly and effectively authorize the signing, delivery and performance of this Agreement and all other documents related to the transactions under this agreement, and such signing, delivery and performance does not violate any relevant laws, regulations and government regulations, and does not infringe the legitimate rights and interests of any third party

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 乙方和丙方共同和分别向甲方声明和保证如下:

Party B and Party C jointly and separately declare and guarantee to Party A as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 乙方目前合法、有效的持有丙方100%的股权, 乙方对该股权的取得和持有并不违反任何法律法规或政府决定, 也未侵犯任何第三方的利益和权利;

Party B currently legally and effectively holds 100% of the equity of Party C. Party B's acquisition and holding of the equity does not violate any laws and regulations or government decisions, nor does it violate the interests and rights of any third party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 丙方是根据中国法律适当成立和有效存续的有限责任公司, 其具有完整的权利能力和行为能力, 有权拥有、处置及经营其资产和业务, 并开展其目前正在进行或计划进行的业务。丙方已经取得从事其营业执照所述的所有业务的全部许可证、资格证书或其它政府部门批准、核准、备案或登记手续;

Party C is a limited liability company duly established and validly existing in accordance with the laws of China, which has complete rights and behavioral capabilities, has the right to own, dispose and operate its assets and business, and to carry out its business which is currently in progress or planned. Party C has obtained all the licenses, qualification certificates or other governmental departments' approval, approval, filing or registration procedures for all the business described in its business license;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 丙方自成立以来并未有过任何违反有关法律法规或政府规定的行为;

Party C has not violated any relevant laws and regulations or government regulations since its establishment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) 乙方持有的丙方股权上不存在任何担保权益或任何其它第三方权利，甲乙双方另有约定的除外;

There is no security interest or any other third party rights in the equity of Party C held by Party B, unless otherwise agreed by both parties

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) 该方并未遗漏向甲方提供任何可能影响其签订本协议的决定的, 有关丙方或其业务的文件或信息;

This party has not omitted to provide Party A with any documents or information about Party C or its business that may affect its decision to enter into this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) 在股权转让完成之前, 该方不会以任何作为或不作为的方式授权或使得在本协议签署之日已经发行的股权之外发行或承诺发行新的股权, 不会对丙方的注册资本或股东结构进行任何形式的变更。

Prior to the completion of the equity transfer, such party will not authorize or cause to be issued or promised to issue new equity in addition to the equity already issued on the date of signing this agreement by any act or omission, and will not change the registered capital or shareholder structure of Party C in any form

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.** **生效和有效期 Validation** 

本协议于文首标明的日期签署并同时生效。

This agreement is signed and effective on the date first above written.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.** **争议的解决 Disputes** 

在各方就本协议项下条款的解释和履行发生争议时, 各方应善意地协商解决该争议。若在一方提出协商解决争议的要求之后30日内, 双方仍未达成解决争议的协议, 任何一方均可将有关争议提交中国国际经济贸易仲裁委员会按照其现行的仲裁规则仲裁解决。仲裁地点在北京; 仲裁使用之语言为中文。仲裁裁决应是终局性的, 对双方均有拘束力。

In case of any dispute between the parties on the interpretation and performance of the terms under this agreement, the parties shall negotiate in good faith to resolve the dispute. If both parties fail to reach an agreement on the settlement of the dispute within 30 days after one party's request for the settlement of the dispute through negotiation, either party may submit the dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with its current arbitration rules. The place of arbitration shall be Beijing; The language of arbitration shall be Chinese. The arbitration award shall be final and binding on both parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.** **适用法律 Validity** 

本协议的效力、解释和强制执行适用中国法律。

The validity, interpretation and enforcement of this Agreement shall be governed by the laws of China.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.** **协议的修改、补充 Amendment, Supplementary** 

各方以书面协议方式对协议做出修改和补充。经过各方适当签字的有关本协议的修改协议和补充协议是本协议的组成部分, 具有与本协议同等的法律效力。

The parties shall amend and supplement the agreement by written agreement. The Amendment Agreement and supplementary agreement on this agreement properly signed by all parties are an integral part of this Agreement and have the same legal effect as this agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.** **协议的分割性 The divisibility of protocol** 

如果本协议项下的任何条款因与有关法律不一致而无效或无法强制执行, 则该条款仅在有关法律管辖范围之内无效或无强制力, 并且不得影响本协议其他条款的法律效力。

If any provision of this agreement is invalid or unenforceable due to inconsistency with the relevant law, it shall be void or unenforceable only within the relevant legal jurisdiction and shall not affect the legal effect of other provisions of this agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.** **协议的附件 Agreement Attachment** 

本协议的任何附件为本协议不可分割部分, 具有与本协议同等的法律效力。

Any annex to this agreement is an integral part of this Agreement and has the same legal effect as this agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.** **其他 Others** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 本协议以中文书就, 一式八份，各方各执一份。

This agreement is made in Chinese in eight copies, one for each party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 如甲方指定任何第三方行使选择权, 则本股权转让协议提及甲方之处, 应根据情况, 指甲方和(或)其指定的第三方。

If Party A designates any third party to exercise the option, Party A and / or the third party designated by Party A shall, as the case may be, refer to Party A in this equity transfer agreement

[以下无正文] No Content<br> [此页无正文, 为《股权转让协议》签署页]

Signature Page Only

甲方:佰迦康（辽宁）健康信息咨询服务有限公司

Party A: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

授权代表: ___________________

<u>Authorized Representative: ___________________</u>

[此页无正文, 为《股权转让协议》签署页]

Signature Page Only

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| | |
|:---|:---|
| 乙方: |  |
| Party B: |  |
| 孙秀芝 Sun Xiu Zhi | 李静 Li Jing |
| 李莹 Li Ying | 苑晓燕 Yaun Xiao Yan |
| 李杰 Li Jie | 孙天柱 Sun Tian Zhu |

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[此页无正文, 为《股权转让协议》签署页]

Signature Page Only

丙方:

Party C

佰迦康（辽宁）健康信息咨询服务有限公司

Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

授权代表: _______________________

<u>Authorized Representative: _______________________</u>

## Exhibit 10.6

**Exhibit 10.6**

**股权质押协议**

**Equity Pledge Agreement**

本股权质押协议(下称"本协议")由下列各方(下称"协议各方")于2022年11月27日在中国盘锦市签订:

This equity pledge agreement (hereinafter referred to as the "Agreement") was signed by the following parties (hereinafter referred to as the "Parties to the Agreement") on November 27, 2022 in Panjin , China:

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司（"辽宁佰迦康"）

Party A: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd. ("Liaoning Baijiakang")

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

乙方:

Party B:

孙秀芝，身份证号：211321195609273844

Sun Xiu Zhi , ID No.211321195609273844

地址: 辽宁省盘锦市兴隆台区创新街商东社区鹤翔路53-2-2-201

Address:53-2-2-201, Hexiang Road, Shangdong Community, Xininnovation Street, Xinglongtai District, Panjin City, Liaoning Province

李静，身份证号：210711197902204028

Li Jing , ID No.210711197902204028

地址:辽宁省盘锦市兴隆台区振兴街设计院社区56-2-301

Address: 56-2-301, Zhenxing Street Design Institute Community, Xinglongtai District, Panjin City, Liaoning Province

李莹，身份证号：21092119811107216X

Li Ying , ID No.21092119811107216X

地址:辽宁省阜新蒙古族自治县卧凤沟乡七家子村七家子南地44号

Address:No. 44 Qizi Nandi, Qizi Village, Wufenggou Township, Fuxin Mongolian Autonomous County, Liaoning Province

苑晓燕，身份证号：130634198811023583

Yuan Xiao Yan , ID No.130634198811023583

地址:河北省保定市曲阳县灵山镇横河口村39号

Address:39 Henghekou Village, Lingshan Town, Quyang County, Baoding City, Hebei Province

李杰，身份证号：370686200104227924

Li Jie, ID No.370686200104227924

地址:山东省栖霞市寺口镇邴家岭村75号

Address:No.75, Bing Jialing Village, Sikou Town, Qixia City, Shandong Province

孙天柱，身份证号：150426198704251559

Sun Tian Zhu, ID No.150426198704251559

地址:内蒙古赤峰市翁牛特旗亿合公镇四方地村大营子村民组

Address:Dayingzi Village Group, Sifang Di Village, Renhegong Town, Wengniute Banner, Chifeng City, Inner Mongolia

**<u>鉴于:</u>**

**<u>As</u>**

1. 甲方系一家在中华人民共和国境内注册合法成立并有效存续的外商投资企业;

Party A is a foreign-invested enterprise that is legally established and validly existing in the territory of the People's Republic of China

2. 辽宁康拜尔生物科技开发有限公司("康拜尔生物")是一家在中国注册成立的有限责任公司;

Liaoning Kangbaier Biotechnology Development Co., Ltd. ("Kangbaier Biotechnology") is a limited liability company incorporated in China

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| | |
|:---|:---|
| 3. | 乙方各方为康拜尔生物的股东(合称"授权方"),其中, 其中, 孙秀芝持有85.964%的股权，李静持有6%的股权，李莹持有3%的股权，苑晓燕持有3.5%的股权，李杰持有1.5%的股权，孙天柱持有0.036%的股权。 |
|  | Parties to Party B are shareholders of Kangbaier Biotechnology ("Pledgors"), of which Sun Xiuzhi hold 85.964% equity，Li Jing hold 6% equity, Li Ying hold 3% equity,Yuan Xiaoyan hold 3.5% equity,Li Jie hold 1.5% equity, and Sun Tianzhu hold 0.036% equity |

---

4. 甲方、乙方各方与康拜尔生物于[
 ]年[ ]月[ ]日签订了独家咨询和服务协议、股权处置协议、业务经营协议;

Party A, Party B and Kangbaier Biotechnology signed an exclusive consultation and service agreement, equity disposal agreement, and business operation agreement on Day Month Year

5. 为了保证甲方从乙方所拥有的康拜尔生物正常收取独家咨询和服务协议项下的服务费,
 以及保证股权处置协议、业务经营协议的履行,
 出质人分别及共同以其在康拜尔生物中拥有的全部股权作为前述协议的质押担保,
 质权人为甲方。 In
 order to ensure that Party A normally collects the service fees under the exclusive consultation and service agreement from Kangbaier
 Biotechnology, which is owned by Party B, as well as the performance of the equity disposal agreement and business operation agreement,
 the pledgor shall separately and jointly use it in The entire equity owned by Kangbaier Biotechnology is used as the pledge guarantee
 of the aforementioned agreement, and the pledgee is Party A.

**<u>据此, 协议各方经过友好协商, 本着平等互利的原则, 达成如下协议以资遵守:</u>**

<u>According to this, the parties to the agreement have reached the following agreement through friendly consultations and based on the principle of equality and mutual benefit to comply with:</u>

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| | |
|:---|:---|
| **1.** | **定义 Definition** |
|  | 除非本协议另有规定, 下列词语应按如下定义解释: |
|  | Unless otherwise specified in this agreement, the following terms shall be interpreted as defined below: |

---

1.1 质权:
 指本协议第2条所列的全部内容。

Pledge: Refers to all the contents listed in Article 2 of this agreement

1.2 股权:
 指出质人共同合法持有的其在康拜尔生物的100%股权以及基于该等股权而享有的所有现时和将来的权利和利益。

Equity: Indicate the 100% equity in Kangbaier Biotechnology jointly and legally held by the pledger and all current and future rights and interests based on such equity

1.3 各协议:
 指甲方、康拜尔生物及其他相关各方于
 年 月 日签订的独家咨询和服务协议、股权处置协议、业务经营协议。

Agreements: Exclusive consultation and service agreements, equity disposal agreements, and business operation agreements signed by the nail party, Kangbaier Biotechnology and other related parties on the Day Month Year.

1.4 违约事件:
 指本协议第7条所列的任何情况。

Event of Default: Refers to any of the circumstances listed in Article 7 of this Agreement.

1.5 违约通知:
 指甲方根据本协议发出的宣布违约事件的通知。

Notice of breach of contract: A notice issued by the nail party in accordance with this agreement announcing an event of breach of contract

**2.** **质押 Pledge** 

2.1 出质人以其在康拜尔生物中拥有的全部股权质押给甲方,
 作为各协议项下甲方权益的担保。

The pledger pledged all its equity in Kangbaier Biotechnology to Party A as a guarantee for Party A's rights and interests under each agreement.

2.2 本协议项下股权质押所担保的范围为康拜尔生物和(或)出质人在各协议项下所应当向甲方支付的全部费用(包括法律费用)、支出及需要承担的损失,
 利息、违约金、赔偿金、实现债权的费用,
 以及在任何原因导致各协议全部或部分无效时,
 康拜尔生物和出质人应向甲方承担的责任。

The scope of the guarantee for the equity pledge under this agreement is all the expenses (including legal expenses), expenses and losses to be borne and interest that Kangbaier Biotechnology and/or the pledger shall pay to Party A under each agreement , Liquidated damages, damages, costs for the realization of the creditor's rights, and the responsibilities that Kangbaier Biotechnology and the pledgor shall bear to Party A when all or part of the agreements are invalidated for any reason

2.3 本协议项下的质权是指甲方所享有的,
 以折价、拍卖、变卖出质人质押给甲方的股权而所得价款优先受偿的权利。

The pledge under this agreement is the right of the nail party to enjoy the priority to be paid for the price obtained by discounting, auctioning, and selling the equity pledged by the pledger to Party A.

2.4 除非本协议生效后甲方另行明确书面同意,
 否则, 仅当康拜尔生物及出质人已适当地履行完毕其在各协议项下的全部义务和责任,
 并经甲方书面认可后, 本协议项下的质押方可解除。若康拜尔生物或出质人在各协议规定的期限届满时,
 仍未完全履行其在该等协议项下义务或责任的全部或任何部分,
 甲方仍享有本协议所规定的质权, 直至上述有关义务和责任以令甲方合理满意的方式完全履行完毕。

Unless Party A otherwise expressly agrees in writing after this agreement comes into force, this will only be done after Kangbaier Biotechnology and the pledger have properly performed all their obligations and responsibilities under each agreement and approved by Party A in writing. The pledge under the agreement can be released. If Kangbaier Biotechnology or the pledgor fails to fully perform all or any part of its obligations or responsibilities under the agreement when the time limit specified in each agreement expires, Party A still enjoys the pledge rights specified in this agreement until The above-mentioned related obligations and responsibilities have been fully fulfilled in a manner that is reasonably satisfactory to Party A

**3.** **生效 Effect** 

3.1 本质押协议自各方签字盖章之日即为成立, 并在将股权质押记载于股东名册之日起生效。 <br> The essential pledge agreement shall be established as of the date when the parties sign and seal, and shall take effect from the date when the pledge of equity is recorded in the register of shareholders

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|:---|:---|
| 3.2 | 质押过程中, 如康拜尔生物未按独家咨询和服务协议交付服务费, 或未履行该等协议项下的其他条款或业务经营协议或股权处置协议项下的任何条款, 在合理通知之后, 甲方有权按本协议的规定行使质权。 |
|  | During the pledge process, if Kangbaier Biotechnology fails to pay the service fee in accordance with the exclusive consultation and service agreement, or fails to perform other terms under these agreements or any terms under the business operation agreement or equity disposal agreement, after reasonable notice, A Party has the right to exercise the right of pledge in accordance with the provisions of this agreement |

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**4.** **质权凭证的占有、保管Possession and custody of pledge certificates** 

4.1 出质人应在本协议签订之日起十个工作日内或各方一致同意的更早时间将其在鲲澎天津的股权出资证明书(正本)交付给甲方保管,
 并向甲方提交本协议项下质押已经适当地登记在股东名册上的证明,
 办理所有依中华人民共和国法律法规所要求的各项审批、登记备案手续，并提交在工商登记机关办理完毕的股权质押登记证明文件。

The pledger shall deliver its equity capital contribution certificate (original) in Kunpeng Tianjin to Party A for safekeeping within ten working days from the date of signing this agreement or an earlier time agreed by all parties, and send it to Party A. Submit the proof that the pledge under this agreement has been properly registered on the shareholder register, go through all the approval, registration and filing procedures required by the laws and regulations of the People's Republic of China, and submit the equity pledge registration documents completed in the industrial and commercial registration authority

4.2 质押记载事项发生变化,
 依法需进行变更记载的, 甲方与乙方应在记载事项变更之日起五个工作日内作相应变更记载,
 并提交相关的变更登记文件。

If the pledge record changes and the change record are required in accordance with the law, Party A and Party B shall make the corresponding change record within five working days from the date of the record change, and submit the relevant change registration documents.

4.3 股权质押期间,
 出质人应指示康拜尔生物不分配任何股息、红利,
 或采取任何利润分配方案; 如出质人就质押股权应取得除股息、红利或其它利润分配方案外的其它任何性质的经济性利益,
 出质人应根据甲方要求指示康拜尔生物将有关（变现后的）款项直接汇至甲方指定的银行帐户,
 未经甲方事先书面同意, 出质人不得动用。

During the equity pledge period, the pledger shall instruct Kangbaier Biotechnology not to distribute any dividends, bonuses, or adopt any profit distribution plan; if the pledger shall obtain any other property except dividends, bonuses or other profit distribution plans for the pledge of equity The pledgor shall instruct Kangbaier Biotechnology to remit the relevant (realized) funds directly to the bank account designated by Party A according to Party A's request. Without Party A's prior written consent, the pledgor shall not use it.

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| 4.4 | 股权质押期间, 如出质人认购康拜尔生物的新注册资本或受让其他出质人持有的康拜尔生物股权("新增股权"), 则该部分新增股权自动成为本协议项下的质押股权, 出质人应于取得新增股权后10个工作日内完成以该部分新增股权设定质押所需的各项手续。如出质人未能按照前述规定完成有关手续, 甲方有权立即按照本协议第八条的规定实现质权。 |
|  | During the equity pledge period, if the pledger subscribes for Kangbaier Biotechnology's new registered capital or transfers Kangbaier Biotechnology's equity held by other pledgers (the "new equity"), this part of the newly added equity will automatically become under this agreement The pledger shall complete the procedures required to set up the pledge with the newly added equity within 10 working days after obtaining the newly added equity. If the pledgor fails to complete the relevant procedures in accordance with the foregoing provisions, Party A has the right to immediately realize the pledge rights in accordance with the provisions of Article 8 of this agreement |

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| **5.** | **出质人的声明和保证 Pledgor's declaration and guarantee** |
|  | 出质人在签署本协议时向甲方做出如下陈述与保证, 并确认甲方系依赖于该等陈述与保证而签署和履行本协议: |
|  | The pledgor made the following statements and guarantees to Party A when signing this agreement, and confirmed that Party A relied on these statements and guarantees to sign and perform this agreement: |

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5.1 出质人合法持有本协议项下的股权, 并有权以该等股权向甲方提供质押担保。 <br> The pledger legally holds the equity under this agreement and has the right to provide a pledge guarantee to Party A with such equit

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| 5.2 | 自本协议签署之日起至甲方根据本协议第2.4项的规定享有质权的期间内，在任何时候, 一旦甲方根据本质押协议行使甲方的权利或实现质权时, 不应有来自任何其他方的合法权利要求或正当干预。 |
|  | From the date of signing of this agreement to the period when Party A enjoys the pledge in accordance with the provisions of item 2.4 of this agreement, at any time, once Party A exercises Party A's rights or realizes the pledge in accordance with the essential pledge agreement, there shall be no Any other party's legal claims or legitimate interference |

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5.3 甲方有权以法律法规及本协议规定的方式行使质权。 <br> Party A has the right to exercise the pledge rights in the manner prescribed by laws, regulations and this agreement.

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| 5.4 | 其签署本协议和履行其在本协议项下的义务, 已取得所有必需的公司授权且不违反任何适用法律法规的规定, 在本协议的授权代表签字人已得到合法有效的授权。 |
|  | It has signed this agreement and performed its obligations under this agreement, has obtained all necessary company authorizations and does not violate any applicable laws and regulations, and the authorized representative signatory of this agreement has been legally and effectively authorized |

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5.5 出质人持有的股权不存在任何其他权利负担或任何形式的第三人担保权益(包括但不限于质押)。 <br> The equity held by the pledger does not have any other rights burdens or any form of third party security rights (including but not limited to pledges)

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| 5.6 | 不存在与股权有关的任何正在进行中的民事、行政或刑事诉讼、行政处罚或仲裁, 并且不存在将会发生的民事、行政或刑事诉讼、行政处罚或仲裁。 |
|  | There is no ongoing civil, administrative or criminal litigation, administrative penalty or arbitration related to equity, and there is no civil, administrative or criminal litigation, administrative penalty or arbitration that will occur |

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5.7 不存在任何与股权相关的应付而未付的税赋、费用或应完成而未完成的法律程序、手续。 <br> There are no due but unpaid taxes, fees or legal procedures or procedures that should be completed but not completed related to equity

5.8 本协议的各条款均是其真实意思的表示, 对其具有法律约束力。 <br> Each clause of this agreement is the expression of its true meaning and is legally binding.

**6.** **出质人的承诺Pledgor's Commitment** 

6.1 在本协议存续期间, 出质人向甲方承诺, 出质人将: <br> During the duration of this agreement, the pledgor promises to Party A that the pledgor will:

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| 6.1.1 | 除根据甲方的要求向甲方或甲方指定的人转让股权外, 未经甲方事先书面同意, 不得转让股权, 不得设立或允许存在任何可能影响甲方权利和利益的质押等任何其他权利负担或任何形式的第三人担保权益; |
|  | Except for the transfer of equity to Party A or a person designated by Party A at the request of Party A, the equity shall not be transferred without Party A's prior written consent, and shall not establish or allow any other rights such as pledge that may affect Party A's rights and interests Burden or any form of third party security interest |

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| 6.1.2 | 遵守并执行所有有关适用的法律、法规的规定, 在收到有关主管机关就质权发出或制定的通知、指令或建议时, 于五个工作日内向甲方出示上述通知、指令或建议, 并按照甲方的合理指示作出行动; |
|  | Comply with and implement all relevant applicable laws and regulations, and upon receipt of notices, instructions or suggestions issued or formulated by relevant competent authorities regarding pledge rights, present the aforementioned notices, instructions or suggestions to Party A within five working days, and Act in accordance with Party A's reasonable instructions; |

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| 6.1.3 | 将任何可能导致对出质人股权或其任何部分的权利产生影响的事件或收到的通知, 以及可能改变出质人在本协议中的任何义务、或对出质人履行其在本协议中义务可能产生影响的任何事件或收到的相关通知及时通知甲方, 并按照甲方的合理指示作出行动。 |
|  | Any event or notice received that may affect the rights of the pledger's equity or any part thereof, and may change any of the pledger's obligations in this agreement, or to the pledger's performance of the pledge in this agreement Any event that may have an impact on the obligation or relevant notifications received shall notify Party A in a timely manner, and act in accordance with Party A's reasonable instructions |

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6.2 出质人同意, 甲方按本协议之条款行使甲方的权利, 不应受到出质人或出质人的承继人或受让人或任何其他人的中断或妨害。 <br> The pledgor agrees that Party A's exercise of Party A's rights in accordance with the terms of this agreement shall not be interrupted or hindered by the pledgor or the pledgor's successor or assignee or any other person

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| 6.3 | 出质人向甲方保证, 为保护或完善本协议对各协议项下出质人和(或) 康拜尔生物义务的担保, 出质人将对康拜尔生物的章程进行一切必要的修改（如适用），诚实签署、并促使其他与质权有利害关系的当事人签署甲方所要求的所有的权利证书、契约、和/或履行并促使其他有利害关系的当事人履行甲方所要求的行为，并为甲方行使质权提供便利, 与甲方或其指定的任何第三方签署所有的有关股权证书的变更文件, 在合理期间内向甲方提供其认为需要的所有有关质权的文件。 |
|  | The pledgor guarantees to Party A that in order to protect or improve the guarantee for the pledger and/or Kangbaier Biotechnology's obligations under this agreement, the pledgor will make all necessary changes to Kangbaier Biotechnology's articles of association (such as (Applicable), honestly sign and urge other parties interested in the pledge to sign all the rights certificates, contracts, and/or perform and urge other interested parties to perform the actions required by Party A, And to provide convenience for Party A to exercise the pledge right, sign all relevant equity certificate change documents with Party A or any third party designated by it, and provide Party A with all relevant pledge documents that it considers necessary within a reasonable period. |

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| 6.4 | 出质人向甲方保证, 为了甲方的利益, 出质人将遵守、履行所有的保证、承诺、协议及陈述。如出质人不履行或不完全履行其保证、承诺、协议及陈述, 出质人应赔偿甲方由此遭受的一切损失。 |
|  | The pledgor guarantees to Party A that, for the benefit of Party A, the pledgor will abide by and perform all guarantees, promises, agreements and statements. If the pledgor fails to perform or does not fully perform its guarantees, promises, agreements and statements, the pledgor shall compensate Party A for all losses suffered thereby. |

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**7.** **违约事件 Breach Matters** 

7.1 下列事项均被视为违约事件: <br> The following matters are regarded as breach of contract

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| 7.1.1 | 康拜尔生物、或其承继人或受让人未能按期足额支付各协议项下的任何应付款项, 或出质人或其承继人或受让人未能履行其在业务经营协议、股权处置协议、独家咨询和服务协议的义务; |
|  | Kangbaier Biotechnology, or its successors or assigns fail to pay any amounts due under each agreement in full and on time, or the pledger or its successors or assigns fail to perform its business operation agreement or equity disposal Obligations of agreements, exclusive consultations and service agreements; |

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| 7.1.2 | 出质人在本协议第5条、第6条所作的任何声明、保证或承诺有实质性的误导或错误, 和/或出质人违反本协议第5条、第6条的声明、保证或承诺; |
|  | Any statement, guarantee, or promise made by the pledgor in Article 5 and Article 6 of this agreement is substantially misleading or wrong, and/or the pledger violates Article 5, Article 6 of the agreement, guarantee, or committed to; |

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7.1.3 出质人严重违反本协议的任何条款; <br> The pledgor seriously violated any clause of this agreement;

7.1.4 除本协议6.1.1的约定外, 出质人舍弃出质的股权或未获得甲方书面同意而擅自转让出质的股权; <br> Except as stipulated in 6.1.1 of this agreement, the pledger abandons the pledged equity or transfers the pledged equity without obtaining the written consent of Party A

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| 7.1.5 | 出质人本身对外的任何借款、担保、赔偿、承诺或其他偿债责任因违约被要求提前偿还或履行或已到期但不能如期偿还或履行, 致使甲方有理由认为出质人履行本协议项下的义务的能力已受到影响, 并且进而影响到甲方利益的; |
|  | Any external borrowing, guarantee, compensation, promise or other debt repayment responsibilities of the pledgor itself are required to be repaid or performed in advance due to breach of contract or have expired but cannot be repaid or performed as scheduled, so that Party A has reason to believe that the pledgor has performed this agreement The ability of the obligations under the item has been affected, and the interests of Party A are further affected; |

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7.1.6 出质人不能偿还一般债务或其他欠债, 并且进而影响到甲方利益的; <br> The pledger is unable to repay general debts or other debts, and further affect the interests of Party A

7.1.7 因有关法律颁布使得本协议不合法或出质人不能继续履行本协议项下的义务; <br> The promulgation of relevant laws makes this agreement unlawful or the pledgor cannot continue to perform its obligations under this agreement;

7.1.8 如果本协议可被执行或使之合法或生效所需之任何政府部门同意、许可、批准或授权被撤回、中止、失效或有实质性修改; <br> If this agreement can be executed or made legal or effective, any government department's consent, permission, approval or authorization is withdrawn, suspended, invalidated or substantially modified

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| 7.1.9 | 出质人因其所拥有的财产出现不利变化, 致使甲方认为出质人履行本协议项下的义务的能力已受到影响; |
|  | Due to adverse changes in the property owned by the pledgor, Party A believes that the ability of the pledgor to perform its obligations under this agreement has been affected |

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7.1.10 按有关法律规定甲方不能行使处分质权的其他情况。 <br> According to relevant laws and regulations, Party A cannot exercise the right of disposition pledge.

7.2 如知道或发现上述第7.1条所述的任何事项或可能导致上述事项的事件已经发生, 出质人应立即以书面形式通知甲方。 <br> If it is known or discovered that any of the matters mentioned in Article 7.1 above or events that may lead to the above matters have occurred, the pledgor shall immediately notify Party A in writing.

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| 7.3 | 除非本条7.1款所列的违约事项已在甲方感到满意的情况下获得完满解决, 否则甲方可在出质人违约事项发生时或发生后的任何时间以书面形式向出质人发出违约通知, 要求出质人立即支付各协议项下的欠款及其他应付款项, 或者及时履行股权处置协议、业务经营协议。如在发出该等书面通知之日起十日内, 出质人或康拜尔生物未及时纠正其违约行为或采取必需的救济行为, 则甲方有权按本协议第8条的规定行使质权。 |
|  | Unless the breaches listed in paragraph 7.1 of this article have been satisfactorily resolved to the satisfaction of Party A, Party A may issue a written notice of breach to the pledgor at any time after the occurrence of the pledgor's breach of contract. , Require the pledgor to immediately pay the arrears and other payables under each agreement, or promptly perform the equity disposal agreement and business operation agreement. If the pledgor or Kangbaier Biotechnology fails to correct its breach of contract or take necessary remedies within ten days from the date of issuing such written notice, Party A shall have the right to exercise the right of pledge in accordance with Article 8 of this agreement. |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.** **质权的行使** 

8.1 在各协议项下的费用和义务尚未全部履行前, 未经甲方书面同意, 出质人不得转让股权。 <br> Before the expenses and obligations under each agreement are fully fulfilled, the pledger shall not transfer the equity without the written consent of Party A.

8.2 甲方行使质权时应按照本协议第7.3条的规定向出质人发出违约通知。 <br> When Party A exercises the right of pledge, it shall issue a notice of breach of contract to the pledgor in accordance with Article 7.3 of this agreement

8.3 受限于第7.3款的规定, 甲方可在按第7.3条发出违约通知之后的任何时间里行使质权。 <br> Subject to the provisions of Article 7.3, Party A may exercise the pledge right at any time after issuing a notice of breach of contract in accordance with Article 7.3

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| 8.4 | 甲方有权按照法定程序以本协议项下的全部或部分股权折价, 或以拍卖、变卖该股权的价款优先受偿, 直到将各协议项下的未支付的服务费、其他一切应付款项抵偿完毕、以及股权处置协议、业务经营协议全部履行完毕。 |
|  | Party A has the right to discount all or part of the equity under this agreement in accordance with legal procedures, or receive priority compensation from the auction or sale of the equity, until the unpaid service fees and all other payables under each agreement are offset Completion, and the equity disposal agreement and business operation agreement are all fulfilled |

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8.5 甲方依照本协议行使质权时, 出质人不得设置障碍, 并应予以必要的协助, 以使甲方实现其质权。 <br> When Party A exercises the pledge rights in accordance with this agreement, the pledgor shall not set up obstacles, and shall provide necessary assistance to enable Party A to realize its pledge rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.** **转让 Tranfer** 

9.1 除非经甲方事先书面明确同意, 出质人无权向第三方转让其在本协议项下的任何权利和/或义务。 <br> Unless Party A expressly agrees in writing in advance, the pledgor has no right to transfer any of its rights and/or obligations under this agreement to a third party.

9.2 本协议对出质人及其继任人均有约束力, 并且对甲方及其承继人或受让人有效。 <br> This agreement is binding on the pledgor and its successors, and is valid for Party A and its successors or assigns.

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| 9.3 | 甲方可以在任何时候将其在各协议项下的全部或任何权利和义务转让给其指定的任何第三方, 在这种情况下, 受让人应享有和承担本协议项下甲方享有和承担的权利和义务。甲方转让各协议项下的权利和义务时, 应甲方要求, 出质人应就此转让签署有关协议和/或文件。 |
|  | Party A may at any time transfer all or any of its rights and obligations under each agreement to any third party designated by it. In this case, the transferee shall enjoy and bear the rights and obligations of Party A under this agreement. The rights and obligations assumed. When Party A transfers the rights and obligations under each agreement, at the request of Party A, the pledgor shall sign relevant agreements and/or documents for the transfer |

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9.4 因转让所导致的质权人变更后, 新质押双方应重新签订质押协议且出质人应负责办理全部有关登记手续。 <br> After the pledgee is changed due to the transfer, both parties to the new pledge shall sign a pledge agreement again and the pledger shall be responsible for all relevant registration procedures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.** **手续费及其他费用Handling fees and other fees** 

10.1 一切与本协议有关的费用及实际开支, 其中包括但不限于法律费用、工本费、印花税以及任何其他税收、费用等由甲乙双方各自承担一半。 <br> All costs and actual expenses related to this agreement, including but not limited to legal fees, cost, stamp duty, and any other taxes, expenses, etc. shall be borne by each party

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.** **不可抗力Force Majeure** 

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| 11.1 | 本协议的履行因任何"不可抗力事件"而被延迟或受到阻碍时, 仅就这部分被延迟或被阻碍的履行, 受到不可抗力影响的一方不需对此承担在本协议项下的任何责任。"不可抗力事件"是指超出了一方所能合理控制的范围, 在受影响的一方加以合理的注意之下仍不可避免的任何事件, 其中包括但不限于, 政府行为、自然力、火灾、爆炸、地理变化、风暴、洪水泛滥、地震、潮汐、闪电或战争。但是, 资信、资金或融资不足不得被视为是超出了一方所能合理控制的事项。受"不可抗力事件"影响寻求免除本协议项下的或本协议任何条款项下履行责任的一方应尽快将此项免除责任一事通知另一方并告之其完成履行所要采取的步聚。 |
|  | When the performance of this agreement is delayed or obstructed due to any "force majeure event", the party affected by the force majeure does not need to bear any responsibility under this agreement only for this part of the delayed or obstructed performance. "Force majeure event" refers to any event that is beyond the reasonable control of a party and is still unavoidable under the reasonable attention of the affected party, including but not limited to government actions, natural forces, fires, explosions, and geography. Change, storm, flooding, earthquake, tide, lightning or war. However, insufficient credit, funds or financing shall not be regarded as matters beyond the reasonable control of one party. A party seeking to be exempted from performance under this agreement or under any clause of this agreement affected by the "force majeure event" shall notify the other party of the exemption of liability as soon as possible and inform it of the steps to be taken to complete the performance. |

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| 11.2 | 受到不可抗力影响的一方不需为此承担在本协议项下的任何责任, 但是只有在受影响的一方尽可行之努力而履行协议的条件下, 寻求免除责任的一方才可获得对此项责任履行的免除, 并且仅以被延迟或受阻碍的那部分履行为限。一旦此类免除责任的原因得到纠正或补救, 各方同意以最大努力恢复本协议项下的履行。 |
|  | The party affected by force majeure does not need to bear any responsibilities under this agreement, but only if the affected party does its best to perform the agreement, the party seeking exemption from liability can be able to perform this responsibility The exemption is limited to the part of the performance that is delayed or hindered. Once the reasons for such exemption of liability are corrected or remedied, the parties agree to use their best efforts to resume performance under this agreement |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.** **法律适用和争议解决Application of law and dispute resolution** 

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| | |
|:---|:---|
| 12.1 | 本协议的签署、有效性、履行和解释, 以及争议的解决受中华人民共和国法律管辖, 依中华人民共和国法律解释。 |
|  | The signing, validity, performance and interpretation of this agreement, as well as the settlement of disputes, are governed by the laws of the People's Republic of China and interpreted in accordance with the laws of the People's Republic of China |

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| | |
|:---|:---|
| 12.2 | 在本协议各方就本协议项下条款的解释和履行发生争议时, 各方应善意通过协商解决该争议。协商不成, 任何一方均可将有关争议提交中国国际经济贸易仲裁委员会按照其届时有效的仲裁规则仲裁解决。仲裁地点为北京, 仲裁使用之语言为中文。仲裁裁决应是终局性的, 对各方均有拘束力。 |
|  | When the parties to this agreement have a dispute over the interpretation and performance of the terms under this agreement, the parties shall resolve the dispute through negotiation in good faith. If the negotiation fails, either party can submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The place of arbitration shall be Beijing, and the language of arbitration shall be Chinese. The arbitration award shall be final and binding on all parties |

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12.3 除各方发生争议的事项外, 各方仍应当本着善意的原则按照本协议的规定继续履行各自义务。 <br> Except for matters in dispute between the parties, the parties shall continue to perform their respective obligations in accordance with the provisions of this agreement in good faith.

**13.** **通知 Notice** 

本协议各方为履行本协议项下的权利、义务所发出的通知, 都应以书面做成, 并以专人递送、挂号邮寄、邮资预付邮寄、认可的速递服务、或图文传真的形式发送到有关一方或各方下列的地址。

The notices issued by the parties to this agreement to perform their rights and obligations under this agreement shall be made in writing and sent in the form of personal delivery, registered mail, postage prepaid mail, approved courier service, or graphic fax To the party concerned or the following address of each party

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司

Party A: Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

地址: 辽宁省盘锦市兴隆台区赵家1-17-1号

Address: 1-17-1 Zhaojia Road, Xinglongtai District , Panjin City, Liaoning Province

电话：13998785999

Phone:13998785999

收件人:王增文

Recipient: Wang Zengwen

乙方:

Party B:

孙秀芝 Sun Xiu Zhi

地址:辽宁省盘锦市兴隆台区创新街商东社区鹤翔路53-2-2-201

Address:53-2-2-201, Hexiang Road, Shangdong Community, Xininnovation Street, Xinglongtai District, Panjin City, Liaoning Province

电话:15842767931

Phone:15842767931

李静Li Jing

地址: 辽宁省盘锦市兴隆台区振兴街设计院社区56-2-301

Address:56-2-301, Zhenxing Street Design Institute Community, Xinglongtai District, Panjin City, Liaoning Province

电话: 19951128222

Phone:19951128222

李莹 Li Ying

地址:辽宁省阜新蒙古族自治县卧凤沟乡七家子村七家子南地44号

Address:No. 44 Qizi Nandi, Qizi Village, Wufenggou Township, Fuxin Mongolian Autonomous County, Liaoning Province

电话:18576703367

Phone:18576703367

苑晓燕 Yaun Xiaoyan

地址: 河北省保定市曲阳县灵山镇横河口村39号

Address:39 Henghekou Village, Lingshan Town, Quyang County, Baoding City, Hebei Province

电话: 18515666707

Phone: 18515666707

李杰Li Jie

地址: 山东省栖霞市寺口镇邴家岭村75号

Address:No.75, Bing Jialing Village, Sikou Town, Qixia City, Shandong Province

电话: 17600462172

Phone: 17600462172

孙天柱Sun Tianzhu

地址:内蒙古赤峰市翁牛特旗亿合公镇四方地村大营子村民组

Address:Dayingzi Village Group, Sifang Di Village, Renhegong Town, Wengniute Banner, Chifeng City, Inner Mongolia

电话: 13940208721

Phone:13940208721

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| | |
|:---|:---|
| **14.** | **附件 Attachment** |
|  | 本协议所列附件, 为本协议不可分割的组成部分。 |
|  | The attachments listed in this agreement are an integral part of this agreement. |

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| | |
|:---|:---|
| **15.** | **弃权Waiver** |
|  | <br> 甲方没有行使或延迟行使本协议项下的任何权利、补救方法、权力或特权时, 不得作为对该权利、补救方法、权力或特权的一项弃权, 甲方对任何权利、补救方法、权力或特权的任何单独或部分行使, 并不排除甲方对任何其它权利、补救方法、权力或特权的行使。本协议所规定的权利、补救方法、权力及特权是累加性的, 且不排除任何法律规定的任何权利、补救方法、权力及特权的适用。 |
|  | When Party A fails to exercise or delays the exercise of any rights, remedies, powers or privileges under this agreement, it shall not be regarded as a waiver of such rights, remedies, powers or privileges. Or any single or partial exercise of privileges does not preclude Party A from exercising any other rights, remedies, powers or privileges. The rights, remedies, powers and privileges stipulated in this agreement are cumulative and do not exclude the application of any rights, remedies, powers and privileges provided by any law. |

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**16.** **其他 others** 

16.1 本协议的任何修改、补充或变更, 均须采用书面形式, 经各方签字盖章后生效。 <br> Any modification, supplement or change of this agreement must be in written form and become effective after being signed and sealed by all parties

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| | |
|:---|:---|
| 16.2 | 各方在此确认本协议为各方在平等互利的基础之上达成的公平合理的约定。如果本协议项下的任何条款因与有关法律不一致而无效或无法强制执行, 则该条款仅在有关法律管辖范围之内无效或无执行力, 并且不得影响本协议其他条款的法律效力。 |
|  | The parties hereby confirm that this agreement is a fair and reasonable agreement reached by the parties on the basis of equality and mutual benefit. If any clause under this agreement is invalid or unenforceable due to inconsistency with the relevant law, the clause shall only be invalid or unenforceable within the jurisdiction of the relevant law, and shall not affect the legal validity of other provisions of this agreement |

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16.3 本协议以中文书就, 正本一式十一份，各方各执一份。 <br> This agreement is written in Chinese, eleven originals, and each party holds one copy.

[此页无正文, 为《股权质押协议》签署页]

Signature Page Only

甲方: 佰迦康（辽宁）健康信息咨询服务有限公司

Party A : Baijiakang (Liaoning) Health Information Consulting Service Co., Ltd.

授权代表: ___________________________

<u>Authorized Representative:</u>

[此页无正文, 为《股权质押协议》签署页]

Signature Page Only

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| | |
|:---|:---|
| 乙方: |  |
| 孙秀芝 Sun Xiu Zhi | 李静 Li Jing |
| 李莹 Li Ying | 苑晓燕 Yuan Xiao Yan |
| 李杰Li Jie | 孙天柱 Sun Tian Zhu |

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**附件: Attachment**

1. 康拜尔生物股东名册。Kangbaier
 Biotechnology Shareholder's list.

2. 辽宁康拜尔生物科技开发有限公司出资额。
 Liaoning Kangbaier Biotechnology Development Co., Ltd. capital contribution.

辽宁康拜尔生物科技开发有限公司出资额

Liaoning Kangbaier Biotechnology Development Co., Ltd. capital contribution

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| | |
|:---|:---|
| &nbsp;&nbsp;股东姓名<br> Shareholder's name | &nbsp;&nbsp;出资额(万元）<br> capital contribution(ten thouands yuan) |
| &nbsp;&nbsp;孙秀芝 Sun Xiuzhi | &nbsp;&nbsp;30087.40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;李 静Li Jing<br>| &nbsp;&nbsp;2100 |
| &nbsp;&nbsp;李 莹 Li Ying | &nbsp;&nbsp;1050 |
| &nbsp;&nbsp;苑晓燕Yuan Xiaoyan | &nbsp;&nbsp;1225 |
| &nbsp;&nbsp;李 杰 LiJie | &nbsp;&nbsp;525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;孙天柱Sun Tianzhu<br>| &nbsp;&nbsp;12.6 |
| &nbsp;&nbsp;合计TOTAL | &nbsp;&nbsp;35000 |

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康拜尔生物股东名册

Kangbaier Biotechnology Shareholder's list

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;股东姓名<br> Shareholder's name | &nbsp;&nbsp;出资额(万元）<br> capital contribution<br> (ten thouands yuan) | &nbsp;&nbsp;出资方式<br> waysof investment | &nbsp;&nbsp;占股比例<br> ratio of share holding |
| &nbsp;&nbsp;孙秀芝 Sun Xiuzhi | &nbsp;&nbsp;30087.40 | &nbsp;&nbsp;货币currency | &nbsp;&nbsp;85.964% |
| &nbsp;&nbsp;李 静Li Jing<br>| &nbsp;&nbsp;2100 | &nbsp;&nbsp;货币currency | &nbsp;&nbsp;6% |
| &nbsp;&nbsp;李 莹 Li Ying | &nbsp;&nbsp;1050 | &nbsp;&nbsp;货币currency | &nbsp;&nbsp;3% |
| &nbsp;&nbsp;苑晓燕Yuan Xiaoyan | &nbsp;&nbsp;1225 | &nbsp;&nbsp;货币currency | &nbsp;&nbsp;3.5% |
| &nbsp;&nbsp;李 杰 Li Jie | &nbsp;&nbsp;525 | &nbsp;&nbsp;货币currency | &nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;孙天柱Sun Tianzhu<br>| &nbsp;&nbsp;12.6 | &nbsp;&nbsp;货币currency | &nbsp;&nbsp;0.036% |
| &nbsp;&nbsp;合计TOTAL | &nbsp;&nbsp;35000 | &nbsp;&nbsp;货币currency | &nbsp;&nbsp;100% |

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