# EDGAR Filing Document

**Accession Number:** 0001999629
**File Stem:** 0001493152-25-019200
**Filing Date:** 2025-10
**Character Count:** 98031
**Document Hash:** c3a1c2e95054ca9ce64d705a52179290
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-019200.hdr.sgml**: 20251024

**ACCESSION NUMBER**: 0001493152-25-019200

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251024

**DATE AS OF CHANGE**: 20251024

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nature Wood Group Ltd
- **CENTRAL INDEX KEY:** 0001948294
- **STANDARD INDUSTRIAL CLASSIFICATION:** LUMBER & WOOD PRODUCTS (NO FURNITURE) [2400]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-94227
- **FILM NUMBER:** 251414526

**BUSINESS ADDRESS:**
- **STREET 1:** AVENIDA DA AMIZADE NO.1287
- **STREET 2:** CHONG FOK CENTRO COMERCIAL,13 E
- **CITY:** MACAU S.A.R
- **STATE:** N5
- **ZIP:** 000
- **BUSINESS PHONE:** 852 60385546

**MAIL ADDRESS:**
- **STREET 1:** AVENIDA DA AMIZADE NO.1287
- **STREET 2:** CHONG FOK CENTRO COMERCIAL,13 E
- **CITY:** MACAU S.A.R
- **STATE:** N5
- **ZIP:** 000
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Chan Wing Luk
- **CENTRAL INDEX KEY:** 0001999629

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** ROOM 3619, 36/F
- **STREET 2:** CONVENTION PLAZA APARTMENT
- **CITY:** NO 1 HARBOUR ROAD, WANCHAI
- **STATE:** K3
- **ZIP:** 0000

## Ex-1

**Exhibit 1**

**SHARE PURCHASE AGREEMENT**

**by and among** 

**SE Hok Pan**

**EASY BLISS LIMITED**

**LINKING STARS LIMITED**

**MORE CHOICE GLOBAL LIMITED**

**CHAN Wing Luk;**

**and**

**HUANG Qing Cai**

**(each, individually, a "Seller" and collectively, the "Sellers")**

**and**

**TUTU Business Services Limited**

**LIANG Yanxia**

**LI Xianfeng**

**MIAO Huiping**

**WANG Lei**

**and**

**WANG Gang**

**(each, individually, a "Purchaser" and collectively, the "Purchasers")**

**<u>Dated the 22nd day of October 2025</u>**

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| **Section** | **Heading** | **Page** |
| 1. | DEFINITIONS | 3 |
| 2. | PURCHASE AND SALE OF SUBJECT SHARES | 10 |
| 3. | PURCHASE PRICE | 10 |
| 4. | CONDITIONS TO CLOSING | 11 |
| 5. | CLOSING | 13 |
| 6. | POST-CLOSING UNDERTAKINGS | 15 |
| 7. | REPRESENTATIONS AND WARRANTIES OF THE SELLERS | 16 |
| 8. | REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS | 18 |
| 9. | COSTS AND STAMP DUTY | 19 |
| 10. | INDEPENDENT LEGAL ADVICE | 19 |
| 11. | GENERAL | 19 |
| 12. | NOTICES | 21 |
| 13. | THIRD PARTY RIGHTS | 22 |
| 14. | GOVERNING LAW AND JURISDICTION | 22 |
| 15. | TERMINATION | 23 |
| 16. | INDEMNIFICATION | 23 |
| SCHEDULE I |  | I-1 |
| SCHEDULE II |  | II-1 |
| EXHIBIT A |  | A-1 |
| EXHIBIT B |  | B-1 |
| EXHIBIT C |  | C-1 |

---

**THIS SHARE PURCHASE AGREEMENT** is made and entered into as of October 22, 2025

**BY AND AMONG**

(1) SE
 Hok Pan (also known as Hok Pan Se), an individual currently residing at Avenida 24 De Junho
 EDF. The Paragon, Macau ()"**Mr. SE** ");

(2) EASY
 BLISS LIMITED, a company duly incorporated in the British Virgin Islands, having its registered
 office located at 4th Floor, Waters Edge Building, Meridian Plaza, Road Town, Tortola, VG1110,
 British Virgin Islands ()"**EASY BLISS** ");

(3) LINKING
 STARS LIMITED, a company duly incorporated in the British Virgin Islands, having its registered
 office located at 4th Floor, Waters Edge Building, Meridian Plaza, Road Town, Tortola, VG1110,
 British Virgin Islands ()"**LINKING STARS** ");

(4) MORE
 CHOICE GLOBAL LIMITED, a company duly incorporated in the British Virgin Islands, having
 its registered office located at 4th Floor, Waters Edge Building, Meridian Plaza, Road Town,
 Tortola, VG1110, British Virgin Island ()"**MORE CHOICE GLOBAL** ");

(5) CHAN
 Wing Luk, an individual currently residing at 3619, 36/F, Convention Plaza Apartment, No
 1 Harbour Road, Wanchai, Hong Kong ()"**Mr. CHAN** "); and

(6) HUANG
 Qingcai, an individual currently residing at Flat C, 23/F, Luna Sky, The Cullinan1, 1 Austin
 Rd West, Tsim Sha Stui, Hong Kong ()"**Mr. HUANG**" and together with Mr. SE,
 EASY BLISS, LINKING STARS, MORE CHOICE GLOBAL and Mr. CHAN, the "**Sellers** "
 and each a "**Seller**);

and

(7) TUTU
 Business Services Limited, a company incorporated in the British Virgin Islands, with its
 registered address at Intershore Chambers, Road Town, Tortola, British Virgin Islands ()"**TUTU** ");

(8) LIANG
 Yanxia, an individual currently residing at Room 808, Unit 2, Building 17, Moliyuan, Huagang
 Xingfu City, District, Nanjing City, Jiangsu Province, China;

(9) LI
 Xianfeng, an individual currently residing at Room 302, Building 52, North District Heyuan
 Xindu, Kaixi Road, Nanhu District, Jiaxing City, Zhejiang Province, China;

(10) MIAO
 Huiping, an individual currently residing at Rm 202, Unit 1, Bldg 20, North District, Heyuan
 New Town, Nanhu, Jiaxing, Zhejiang Province 314000 China;

(11) WANG
 Lei, an individual currently residing at Unit 101, Building 9, Entrance 2, Zijun Shanshui
 Yijing, Tianzhufeng Road, Taishan District, Tai'an City, Shandong Province, China;
 and

(12) WANG
 Gang, an individual currently residing at Room 2318, Anxiaowo Apartment, Huaqiang Square,
 Fuhai Sub-District, Bao'an District, Shenzhen City, Guangdong Province, China (together
 with TUTU, LIANG Yanxia, LI Xianfeng, MIAO Huiping, WANG Lei and WANG Gang, the "**Purchasers** ").

The Sellers on the one hand and the Purchasers on the other hand are referred to herein collectively, as "**Parties**", and each of them, separately, as a "**Party**".

**WHEREAS**

(A) On
 the date hereof, each of Mr. SE, EASY BLISS, LINKING STARS, MORE CHOICE GLOBAL Mr. CHAN and
 Mr. HUANG is the respective legal and record holders of ordinary shares, par value $0.001
 per share, in Nature Wood Group Limited, a company incorporated in the British Virgin Islands
 having its principal place of business located at Avenida da Amizade n.o1287, Chong Fok Centro
 Commercial, 13 E Macau S.A.R. (the "**Company** "), whose securities are listed
 on The Nasdaq Capital Market, and such 114,974,179 ordinary shares (the "**Subject Shares**") representing, on the date hereof, an aggregate of approximately 86.82%
 of the issued and outstanding ordinary shares of the Company which, for the avoidance of
 doubt, excludes all treasury shares of the Company. with Mr. SE directly holding 2,145,392
 ordinary shares, representing approximately 1.62% of the total issued and outstanding shares
 of the Company, EASY BLISS holding 90,787,458 ordinary shares, representing approximately
 68.56% of the total issued and outstanding shares of the Company, LINKING STARS holding 1,980,542
 ordinary shares, representing approximately 1.50% of the total issued and outstanding shares
 of the Company, MORE CHOICE GLOBAL holding 5,000,000 ordinary shares, representing approximately
 3.78% of the total issued and outstanding shares of the Company, Mr. CHAN holding 7,516,484
 ordinary shares, representing approximately 5.68% of the total issued and outstanding shares
 of the Company, and Mr. HUANG holding 7,544,303 ordinary shares, representing approximately
 5.70% of the total issued and outstanding shares of the Company.

(B) The
 Parties entered into a letter of intent dated July 22, 2025 (the "**LOI** "),
 pursuant to which TUTU paid an initial deposit of US$200,000 as part payment of the Purchase
 Price, which was transferred to the Sellers as of the date of this Agreement.

(C) Upon
 the terms and subject to the conditions set forth herein, the Sellers wish to sell the Subject
 Shares to the Purchasers as set forth in <u>Exhibit A</u> attached hereto and the Purchasers
 wish to purchase the Subject Shares from the Sellers, all in accordance and subject to the
 terms herein.

(D) The
 Parties wish to set forth herein all of the terms and conditions that shall govern the sale
 and purchase of the Subject Shares hereunder.

**NOW, THEREFORE**, in consideration of the premises and the mutual promises herein made, and in consideration of the representations, warranties, and covenants herein contained, and intending to be legally bound hereby, the Parties agree as follows:

**1.** **DEFINITIONS** 

1.1 <u>Definitions</u>.

In addition to the terms defined in the preamble and the recitals above, the following terms shall have the following meanings:

---

| | |
|:---|:---|
| **"Affiliate"** | means a Person Controlling, Controlled by or under common Control with a Person, and if such Person first stated above is a natural person, a Relative of such person;<br>|
| **"Agreement"** | means this Share Purchase Agreement, as may be amended and/or restated from time to time, including all schedules, exhibits and annexes attached hereto or referenced hereby;<br>|
| **"Applicable Laws"** | means any constitutions, enactments, ordinances, regulations, orders, notices, judgments, common law, treaties and any other legislations or laws of any relevant jurisdictions;<br>|
| **"Board"** | means the board of directors of the Company from time to time; |
| **"Business Day"** | means each day (except Saturdays and Sundays and normal bank holidays) on which commercial banks in New York, New York are open for regular business; |
| **"Claim"** | means, whether or not it is judicial in nature, any assessment, notice, demand, order or other document issued or action taken from which it appears that any person (including corporate) is liable or is sought to be made liable for any payment or obligation or to be deprived of any rights which would, but for the Claim, have been available; |
| "**Closing"** | has the meaning given to it in Section 5.1; |

---

---

| | |
|:---|:---|
| "**Closing Date"** | has the meaning given to it in Section 5.1 which date is anticipated to be not be later than the close of business, Eastern time, on or about October 22, 2025 (or such later date as may be mutually agreed by the Parties);<br>|
| "**Closing Deliverables"** | means the Sellers' duly executed counterparts of (i) the instruments of transfer for all of the Subject Shares; (ii) any certified copy of board or shareholder resolutions (if applicable) approving the sale and purchase of the Subject Shares and the execution of the Transaction Documents by the Sellers; (iii) certificate of each Seller, dated the Closing Date and addressed to the Purchasers in the form agreed in writing by the Sellers and Purchasers set out in Exhibit B hereto; and (iv) other ancillary documents as agreed in writing among the Sellers and Purchasers to be included as Closing Deliverables as of the date of this Agreement, including board minutes of the Company, individuals' power of attorney, and certificate of incumbency as applicable to each Seller;<br>|
| "**Company**" | as defined in Recital (A); |
| **"Conditions"** | has the meaning given to it in Section 4.1; |
| "**Contract**" | with respect to any Party, all agreements, undertakings, contracts, arrangements, understandings and/or commitments (i) to which such Party is a party, (ii) under which such Party has any rights, (iii) under which such Party has any liability or (iv) by which such Party, or any of the assets or properties owned or used by such Party, is bound;<br>|
| **"Control" *or* "Controlled" *or* "Controlling"** | means the ability, directly or indirectly, to direct the activities of the relevant entity, including, without limitation, the holding of (i) more than 50% of the issued share capital, or (ii) such share capital as carries directly or indirectly, more than 50% of the shareholder votes in a general meeting or the ability to appoint or elect more than 50% of the directors or equivalent of such entity;<br>|
| **"Disclosed"** | in respect of the Sellers' Warranties, disclosed in a full, fair and specific manner in this Agreement, the Published Documents, with sufficient details in all material respects for a reasonable purchaser to make an informed and accurate assessment of the nature, scope and impact of the matters disclosed;<br>|

---

---

| | |
|:---|:---|
| **"Encumbrance"** | means a mortgage, Claim, charge, pledge, lien, hypothecation, guarantee, right of set-off, trust, assignment, right of first refusal, right of pre-emption, option, restriction or other encumbrance or any legal or equitable third party right or interest including any security interest of any kind or any type of preferential arrangement (or any like agreement or arrangement creating any of the same or having similar effect) that restricts transfer or other exercise of any attributes of ownership (other than, in the case of any Equity Securities, any transfer restriction arising under applicable securities laws);<br>|
| **"End Date"** | as defined in Section 4.2; |
| **"Equity Securities"** | means warrants, options, convertible securities, convertible debt and any other instrument or security convertible into shares or other capital securities of an entity;<br>|
| **"Escrow Agent"** | means McLaughlin & Stern, LLP, who shall act in accordance with the terms of the escrow agreement, dated as of September 2, 2025, entered into among the Parties and the Escrow Agent on or before the date of this Agreement, as amended or supplemented from time to time (the **"Escrow Agreement"**);<br>|
| **"Exchange Act"** | means the United States Securities Exchange Act of 1934, as amended; |
| **"Governmental Authority"** | means in any jurisdiction, including British Virgin Islands, Macau and the United States of America, any (i) national, federal, state, local, foreign or international government, (ii) court, arbitral or other tribunal, (iii) governmental or quasi-governmental authority of any nature (including any political subdivision, instrumentality, branch, department, official or entity), or (iv) agency, commission, authority or body exercising, or entitled to exercise, any administrative, executive, judicial, legislative, police, regulatory or taxing authority or power of any nature;<br>|

---

---

| | |
|:---|:---|
| "**Group**" | means the Company and its Subsidiaries, and the **"Group Company"** shall mean any one of them; |
| **"Initial Deposit"** | has the meaning given to it in Section 3.2; |
| **"LOI"** | has the meaning given to it in the Recitals; |
| **"Loss" or "Losses"** | means any and all losses, liabilities, obligations, costs, claims, damages, awards, judgments and expenses (including reasonable attorney fees);<br>|
| **"Macau**" | means the Macau Special Administrative Region of the People's Republic of China;<br>|
| **"Material Adverse Effect"** | means any change, occurrence or development including without limitation any ongoing, pending or threatened legal proceedings or any Applicable Laws in the region or sector, which, individually or in the aggregate, is reasonably likely to have a material adverse effect on the business, financial or trading position, results of operations, profitability, shareholders' equity and business of the Group, taken as a whole, or which may adversely affect the consummation of the transactions contemplated by this Agreement or any actions by the Purchasers or Sellers taken pursuant to this Agreement or in connection with the transactions contemplated thereby;<br>|
| **"Nasdaq"** | means The Nasdaq Stock Market LLC; |
| **"ordinary course of business"** | means an action taken by the Company in the ordinary course of business which is consistent with the past practices of the Company;<br>|
| **"Organizational Documents"** | means in respect of any entity, the memorandum of association, articles of association, certificate of incorporation, by-laws, certificate(s) of designation or other constitutional documents of any type;<br>|
| **"Parties"** | means the parties to this Agreement; |
| **"Person"** | means any individual, firm, corporation (including any non-profit corporation), general or limited partnership, limited liability company, joint venture, estate, trust, association, organization (including unincorporated organization), other entity or governmental authority;<br>|

---

---

| | |
|:---|:---|
| **"Published Documents"** | means all documents, including announcements, circulars, annual and interim reports made by or on behalf of the Company published on EDGAR; |
| "**Purchase Price"** | has the meaning ascribed to it under Section 3.1; |
| **"Relative"** | means spouse, sibling, parent, parent's parent, offspring or the spouse's offspring and the spouse of each of these; |
| **"Representatives"** | means of any Person, such Person's directors, managers, members, officers, employees, agents, advisors and representatives (including, without limitation, legal advisors, accountants, consultants, financial advisors, financing sources and any representatives of such advisors or financing sources);<br>|
| "**SEC"** | means the United States Securities and Exchange Commission; |
| "**Securities Act"** | means the United States Securities Act of 1933, as amended; |
| "**Security Interests"** | means all trusts, liens, mortgages, charges, attachments, judgments, pledges, options, rights of first refusal, rights of possession, restrictions on transfer, voting agreements, sale/leasebacks or similar arrangements, security interests or other rights or claims of others or restrictions or Encumbrances of any character whatsoever;<br>|
| "**Securities Laws"** | means the securities Laws of United States and the rules and regulations promulgated thereunder (including the Securities Act and the Exchange Act and the rules and regulations thereunder).<br>|
| "**Sellers' Warranties"** | means the warranties and representations made by the Sellers in Section 7 and Schedule I and "Sellers' Warranty" means any one of them;<br>|
| "**Share(s)"** | means ordinary share(s) in the share capital of the Company from time to time; |
| "**Shareholder(s)"** | means the holder(s) of Shares in the Company from time to time; |

---

---

| | |
|:---|:---|
| **"Subject Shares"** | has the meaning given to it in the Recitals, and any further shares or other Equity Securities issued in respect of the Subject Shares in the framework of, or in connection with, a share combination or subdivision, share split, reverse share split, share dividend, distribution of bonus shares or any other reclassification, reorganization or recapitalization of the Company's share capital on or after the date of this Agreement and prior to the Closing Date;<br>|
| **"Subsidiary(ies)"** | means any entity in which the Company holds: (i) more than 50% of the issued share capital or participation interests; (ii) such share capital as carries directly or indirectly, more than 50% of the shareholder votes in a general meeting; or (iii) the ability to appoint or elect more than 50% of the directors or equivalent of such entity, (iv) rights to control or derive pecuniary interest, through contract or otherwise, which entity is required by International Financial Reporting Standards as issued by the International Accounting Standards Board to be consolidated by the Company and reported on a consolidated basis in the Company's financial statements;<br>|
| "**Tax**" **or** "**Taxation**" | means all taxes, charges, fees, duties, levies or other assessments which are imposed by any Governmental Authority and includes, without limitation, profits tax, provisional profits tax, interest tax, salaries tax, property tax, land appreciation tax, taxes on income, estate duty, capital duty, stamp duty, payroll tax and other similar liabilities or contributions and any other taxes, levies, duties, charges, imposts, social security contributions, rates or withholdings similar to, corresponding with, or replacing or replaced by any of the foregoing and including an amount equal to any deprivation of any relief from taxation, including any interest, penalties and fines, incidental or additions attributable thereto; |
| "**Transaction Documents"** | means this Agreement, the Escrow Agreement, and all exhibits and schedules thereto and hereto and any ancillary documents required to be delivered at or before the Closing;<br>|
| "**USD"** or "**US$"** | means United States dollars, the lawful currency of the United States of America. |
| "**%"** | per cent. |

---

1.2 <u>Construction</u>.

In this Agreement, unless the context requires otherwise, any reference:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) words
 and defined terms expressed in the singular number shall include the plural and vice versa,
 and words expressed in the masculine shall include the feminine and neuter gender and vice
 versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 term "including" shall be interpreted to mean "including (without limitation)"
 whenever such term appears in this Agreement (and the terms "include" and "includes"
 shall be similarly interpreted);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 term "law" shall include any by-law, rule, regulation, executive orders, judgment,
 order, ruling, issued or given by any Governmental Authority and/or stock exchange, applicable
 to a Party; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 words "hereof", "herein", "hereto" and "hereunder"
 and words of similar import, when used in this Agreement, shall refer to this Agreement as
 a whole and not to any particular provision of this Agreement.

1.3 <u>Headings</u>.

The paragraph headings are for the sake of convenience only and shall not affect the interpretation of this Agreement.

1.4 <u>Exhibits</u>.

The recitals, schedules, appendices, annexes and exhibits hereto form an integral part of this Agreement. When a reference is made in this Agreement to a Recital, a Section, an exhibit or schedule, such reference shall be to a Recital of, a Section of, or an exhibit or schedule to, this Agreement unless otherwise indicated.

1.5 <u>No Strict Construction.</u> 

The Parties agree that they have been represented by counsel during the negotiation and execution of this Agreement and, therefore, waive the application of any law, holding or rule of construction providing that ambiguities in an agreement or other document shall be construed against the Party drafting such agreement or document.

**2.** **PURCHASE AND SALE OF SUBJECT SHARES** 

2.1 <u>Agreement to Purchase and Sell</u>.

Subject to the terms and conditions of this Agreement, at and subject to the Closing, each Seller hereby agrees to sell, transfer, assign and deliver to the Purchasers, and each Purchaser hereby agrees to accept and purchase from the Sellers, all of the Subject Shares, free and clear of any Encumbrances or Security Interests, together with all rights attaching or accruing to them.

2.2 The
 Purchasers shall not be obliged to complete the sale and purchase of any of the Subject Shares
 unless the sale and purchase of all the Subject Shares are completed simultaneously.

2.3 The
 Parties acknowledge that, as of the date of this Agreement, the Subject Shares are "restricted
 securities" as defined in Rule 144 under the Securities Act and subject to resale restrictions
 during the period set forth in Rule 144.

**3.** **PURCHASE PRICE** 

3.1 In
 full consideration for the purchase by the Purchasers of the Subject Shares, the Purchasers
 shall (i) pay to the Sellers an aggregate of $6,806,361.29 in US dollars (the "**Purchase Price**") based on a per share price of $0.0592.

3.2 Subject
 to and in accordance with this Agreement, the Purchase Price shall be paid by the Purchasers
 to the Sellers as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) US$200,000
 (the "**Initial Deposit** "), which has already been paid to the Sellers by
 TUTU by banker's cheque on July 25, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) US$3,300,000
 (the "**Second Payment** "), which has already been deposited on or about September
 11, 2025 (the "**Second Payment Date** "), by TUTU with the Escrow Agent by
 wire transfer of immediately available funds in accordance with the Escrow Agreement, and
 shall be released to the Sellers upon Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) US$3,150,000
 (the "**Third Payment** "), which has already been deposited on or about October
 21, 2025 by the Purchasers with the Escrow Agent by wire transfer of immediately available
 funds in accordance with the Escrow Agreement, and shall be released to the Sellers upon
 Closing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) US$156,361.29
 (the "**Escrowed Balance** "), to be deposited in full with the Escrow Agent
 by wire transfer of immediately available funds on or within three (3) months after the Closing
 Date or such later date as the Parties may agree in writing, which shall be retained in escrow
 and released to the Sellers upon the Company's filing of its annual report on Form
 20-F for the fiscal year ending December 31, 2025, and upon sole instructions given by the
 Sellers to the Escrow Agent.

3.3 In
 the event that (i) the Sellers fail to deliver the Closing Deliverables on the Closing Date,
 or (ii) the Closing does not occur due to the Subject Shares not being free from Encumbrances
 or Security Interests in breach of Section 2.1, in each case the Sellers shall refund the
 Initial Deposit to the Purchasers without interest, the Second Payment and the Third Payment
 shall be released to the Purchasers, and this Agreement shall automatically terminate without
 further action by any Party. For the avoidance of doubt, in case of this Section 3.3, the
 Escrow Agent shall act solely in accordance with the instructions and procedures set out
 in the Escrow Agreement

3.4 Payment
 of the Purchase Price in full in accordance with this Section 3 shall constitute full and
 final discharge of the Purchasers' payment obligations under this Agreement. For the
 avoidance of doubt, nothing in this Section shall prejudice any accrued rights or termination
 rights arising prior to such full payment, nor shall it affect any provisions that survive
 termination or Closing.

**4.** **CONDITIONS TO CLOSING** 

4.1 The
 Closing of the sale and purchase of the Subject Shares is conditional upon the satisfaction
 or waiver of the following conditions (the "**Conditions** "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 required regulatory approvals, consents and authorizations (if any) for the transactions
 contemplated by the Transaction Documents having been obtained, and all required filings
 or registrations with any governmental authority having been made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Subject Shares are free from all Encumbrances or Security Interests;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 representations and warranties of the Sellers and Purchasers were true, correct and not misleading
 in all material respects when made and shall be true, correct and not misleading in all material
 respects at the Closing as though made again at the Closing Date (except to the extent such
 representations and warranties expressly relate to an earlier date, including the date hereof,
 in which case such representations and warranties shall be true, correct and not misleading
 in all material respects on and as of such earlier date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all
 authorizations and other proceedings required to be taken by such Sellers or Purchasers to
 approve this Agreement and the transactions contemplated hereby shall have been completed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the
 Purchasers having deposited Third Payment with the Escrow Agent in accordance with Section
 3.2(c);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the
 Company's registered agent's written acknowledgment that the Closing Deliverables
 represent all documents required to be delivered to the registered agent to effectuate the
 transfer of all the Subject Shares having been obtained.

4.2 The
 Parties shall use their respective reasonable endeavors to procure the satisfaction of the
 Conditions set out in Section 4.1 as soon as possible and, in any event, by no later than
 October 30, 2025 (the "**End Date** "), or such later date as the Parties may
 agree in writing.

4.3 Any
 Party becoming aware of the satisfaction or potential failure of any Condition shall promptly
 notify the other Parties.

4.4 From
 the date of this Agreement until the earlier of Closing or the termination of this Agreement,
 and except as expressly provided herein or otherwise agreed in writing by the Purchasers
 (such consent not to be unreasonably withheld or delayed), the Sellers shall cause the Company
 to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) conduct
 its business in the ordinary and usual course consistent with past practice and maintain
 its business organizations and existing relationships and goodwill with customers, suppliers,
 creditors, lessors, employees and business associates in all material respect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) maintain
 its books of account and records consistent with its past practice in all material respects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) not
 (i) amend its organizational documents other than amendments which are ministerial in nature;
 (ii) split, combine or reclassify its outstanding share capital; or (iii) repurchase, redeem
 or otherwise acquire any shares of its share capital or any securities convertible into or
 exchangeable or exercisable for any shares of its share capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) not
 declare or pay any dividends on or make other distributions in respect of any of its share
 capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) with
 respect to any present or former, director, officer or employee of the Company, not (i) enter
 into any employment or severance agreements or arrangements (except as may be required by
 the terms of any employment agreements existing on the date hereof or by applicable Laws),
 (ii) increase compensation or benefits (except for increases in salary or hourly wage rates,
 in the ordinary course of business consistent with past practice), (iii) loan or advance
 any money or other property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) not
 issue, sell, or dispose of any shares of, or securities convertible into or exchangeable
 or exercisable for, or options, warrants, calls, commitments or rights of any kind to acquire,
 any shares of its share capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) not
 incur additional indebtedness other than as a result of its ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) not
 sell, assign, lease, license, allow to expire or lapse, encumber or otherwise dispose of
 any material properties and assets, except inventory or de minimis items in its ordinary
 course of business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) not
 late in making any filings as may be required to be made by the Company in accordance with
 the Securities Laws and the rule of Nasdaq.

**5.** **CLOSING** 

5.1 Subject
 to the satisfaction or waiver of all the Conditions set out in Section 4.1, completion of
 the sale and purchase of the Subject Shares ()"**Closing**") shall take place
 at the offices of the Purchasers' counsel immediately after the satisfaction of the
 last of the Conditions set forth in the Section 4.1, or at such other date, place or time
 as the Parties may agree in writing (the "**Closing Date** ").

5.2 At
 Closing, subject to the Purchasers performing their obligations under this Section 5.2(b)
 and the Sellers performing their obligations under this Section 5.2(a), each Seller shall
 be deemed to have sold and transferred all of its right, title and interest in and to the
 Subject Shares to the Purchasers and each Purchaser shall be deemed to have purchased and
 accepted, all of the Seller's right, title and interest in and to the Subject Shares,
 subject to completion of the registration of such transfers in the Company's register
 of members pursuant to Clause 5.3. The following actions and occurrences will take place,
 all of which shall be deemed to have occurred simultaneously and no action shall be deemed
 to have been completed and no document or certificate shall be deemed to have been delivered,
 until all actions are completed and all documents and certificates delivered:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Sellers shall deliver or cause to be delivered to the Purchasers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) this
 Agreement duly executed by the Sellers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the
 Closing Deliverables;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the
 Company's CCC and CIK codes for the filing of submissions with the SEC on the Electronic
 Data Gathering, Analysis, and Retrieval System; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any
 documents necessary for the purpose of effecting the transactions con-templated hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Sellers shall deliver or having delivered to the Company's registered agent (i) the
 fully executed board minutes of the Company; (ii) instruments of transfer for all of the
 Subject Shares, validly executed by the Sellers as transferor of the Subject Shares; (iii)
 this Agreement duly executed by the Parties hereto; and (iv) other ancillary documents as
 required by the Company's registered agent to effectuate the transfer of all the Subject
 Shares.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 Purchasers shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) instruct
 the Escrow Agent in writing to release the Second Payment and the Third Payment to the Sellers
 in accordance with the Escrow Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) deliver
 to the Sellers certificate of each Purchaser, dated the Closing Date and addressed to the
 Sellers in the form agreed in writing by the Sellers and Purchasers set out in Exhibit C
 hereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) deliver
 or cause to be delivered to the Sellers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) this
 Agreement duly executed by the Purchasers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 duly executed counterparts of the instruments of transfer in respect of all of the Subject
 Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) copy
 of the certificate of incumbency of TUTU;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) a
 certified copy of the resolutions of the board of directors and shareholders (if required)
 of the Purchasers approving the purchase of the Subject Shares and the execution of the Transaction
 Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any
 documents necessary for the purpose of effecting the transactions contemplated hereunder.

5.3 Within
 three (3) Business Days following Closing, or such later date as the Parties may agree in
 writing, each of the Sellers shall use its best efforts to procure that the Purchasers receive
 a certified copy of the Register of Members maintained by registered agent reflecting the
 Purchasers as the owners of the Subject Shares.

5.4 In
 the event that the Sellers or the Purchasers shall fail to do anything required to be done
 by it/him under Section 5.2 (the **"Defaulting Party** "), without prejudice
 to any other right or remedy available to the Sellers or the Purchasers (as the case may
 be), the Sellers (in case of default by the Purchasers) or the Purchasers (in case of default
 by the Sellers) may by notice to the Defaulting Party elect to:

&nbsp;&nbsp;&nbsp;&nbsp;(a) upon
 mutual consent by the Sellers and the Purchasers, a further five (5) Business Days after
 the date fixed for Closing;

&nbsp;&nbsp;&nbsp;&nbsp;(b) proceed
 to Closing so far as practicable but without prejudice to the Sellers' or the Purchasers'
 right (as the case may be) to the extent that the Defaulting Party shall not have complied
 with their obligations hereunder; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) terminate
 this Agreement without any liability on its part, except that termination shall be without
 prejudice to any then accrued rights and obligations of the Parties.

**6.** **POST-CLOSING UNDERTAKINGS** 

6.1 Each
 of the Parties undertakes to the others that it will not, at any time after the date of this
 Agreement, divulge or communicate to any person other than to its professional advisers,
 or when required by law or any rule of any relevant stock exchange body, or to its respective
 officers or employees whose province it is to know the same any confidential information
 concerning the business, accounts, finance or contractual arrangements or other dealings,
 transactions or affairs of any of the others or the Group which may be within or may come
 to its knowledge and it shall use its best endeavors to prevent the publication or disclosure
 of any such confidential information concerning such matters.

6.2 No
 public announcement or communication of any kind shall be made in respect of the subject
 matter of this Agreement unless specifically agreed between the Parties or unless an announcement
 is required pursuant to the Applicable Law or the requirements of Nasdaq, SEC or any other
 regulatory body or authority (including the Securities Laws). Any announcement by any Parties
 hereto required to be made pursuant to any relevant law or regulation or the requirements
 of the relevant stock exchange or any other regulatory body or authority shall be issued
 only after such prior consultation with the other party as is reasonably practicable in the
 circumstances.

6.3 Promptly
 after the Closing, the Parties shall procure that the Company will make all public filings
 required under any applicable law in connection with the transaction contemplated hereby
 in a timely manner. It is acknowledged that the Sellers shall, upon reasonable request and
 at the Purchasers' cost and expense, provide such information or execute such documents
 as may be reasonably necessary to assist the Purchasers with the preparation and filing of
 a resale Registration Statement on Form F-1 with the SEC pursuant to the registration requirements
 under the Securities Act covering the Subject Shares, provided that the Sellers shall not
 be required to provide any indemnity, incur any material cost or liability, or make any representations
 or warranties other than as expressly set out in this Agreement.

6.4 The
 Sellers shall use their best efforts to cooperate with the Purchasers to finalize and file
 the interim report of the Company for the six months ended June 30, 2025 and annual report
 of the Company for the fiscal year ending December 31, 2025, any other report pursuant to
 Section 15 or 13 of the Exchange Act and any other disclosure resulting from the transactions
 contemplated under this Agreement, provided that the Purchasers shall provide all necessary
 authorizations, approvals, corporate actions, and information reasonably requested by the
 Sellers to perform such cooperation.

**7.** **REPRESENTATIONS AND WARRANTIES OF THE SELLERS** 

7.1 Each
 Seller hereby represents and warrants to the Purchasers (individually and not jointly and
 severally) that save as Disclosed, the Recitals (to the extent relevant to the Group, Subject
 Shares and such Sellers), this Section 7 and Schedule I are true, correct and complete in
 all material respects and not misleading in any material respect as at the date of this Agreement
 and as at the Closing Date.

7.2 Each
 Seller represents and warrants to the Purchasers (individually and not jointly and severally)
 that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) such
 Seller is the sole legal and beneficial owner of the Subject Shares set opposite its name
 in Recitals and has full power and authority to sell and transfer such Subject Shares free
 from all Encumbrances;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) such
 Seller has good and valid title to such Subject Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no
 person has the right (whether exercisable now or in the future and whether contingent or
 not) to call for the transfer, conversion, or issue of any of such Subject Shares under any
 option, agreement, or other arrangement (including conversion rights or rights of pre-emption);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 Subject Shares sold by such Seller are fully paid and non-assessable and are not subject
 to any option, warrant, pre-emption right, lien, charge, pledge, restriction or other Encumbrance
 (other than the resale restrictions disclosed in Section 2.3 or otherwise disclosed in this
 Agreement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the
 execution and delivery of this Agreement by such Seller and the performance of its obligations
 hereunder will not result in any material breach of, or constitute a material default under,
 any agreement, order, law or obligation binding on such Seller or its Subject Shares.

7.3 If,
 at any time prior to Closing, it is discovered that any of the Subject Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) are
 not legally and beneficially owned by the relevant Seller; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) are
 subject to any Encumbrance in breach of Section 7.2;

then, subject to Sections 2.1, 3.3, and 15.1, the Purchasers may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) terminate
 this Agreement, and the Initial Deposit shall be refunded to the Purchasers without interest;
 and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) require
 the relevant Seller to indemnify the Purchasers for direct and reasonably foreseeable losses
 actually suffered provided that such indemnity shall not exceed the portion of the Purchase
 Price already received by the relevant Seller.

7.4 Each
 Seller acknowledges that the Purchasers are entering into this Agreement in reliance upon
 the Sellers' Warranties.

7.5 Each
 of the Sellers' Warranties shall be construed as a separate and independent warranty
 and shall not be limited or restricted by reference to or inference from the terms of any
 other warranty or any other term of this Agreement.

7.6 After
 the date of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 any Seller becomes aware that any warranty given as at the date of this Agreement is untrue,
 inaccurate or misleading in any material respect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 any Seller becomes aware of any matter or circumstances which has arisen and is reasonably
 likely to render the Sellers' Warranties untrue, inaccurate or misleading in any material
 respect (as if such Sellers' Warranties were repeated on Closing),

such Seller shall as soon as reasonably practicable thereafter notify the Purchasers in writing.

7.7 The
 Sellers' Warranties shall be deemed to be repeated as at Closing by reference to the
 facts and circumstances existing at that time.

7.8 Where
 any Sellers' Warranty is qualified by the expression "to the Sellers' reasonable
 knowledge, information and belief," it shall be deemed to have been qualified by the
 knowledge of such Seller after having made reasonable due and careful inquiry with the directors
 of the Company and the Subsidiaries and any other person of whom it would be reasonable to
 make such inquiry. Such Sellers' Warranty shall be qualified in the manner stated only
 to the extent that the relevant Seller can establish that, prior to giving the relevant Sellers'
 Warranty, it has made such inquiry and has used its reasonable endeavors to ensure that all
 information given in, referred to, or reflected in, that Sellers' Warranty is true
 and accurate.

7.9 The
 Purchasers shall have the right to Claim against the relevant Seller for breach of the Sellers'
 Warranties after Closing, provided that the facts, matters or circumstances giving rise to
 such breach existed on or before the Closing Date.

7.10 The
 Purchasers shall not assign any representations, Sellers' Warranties, undertakings,
 rights nor the right to make Claims under this Agreement to any person, save and except to
 any holding company or subsidiaries of the Purchasers, without the prior written consent
 of the Sellers.

7.11 Each
 Seller's Warranties are qualified by reference to those matters Disclosed. The Sellers
 will not be liable to the Purchasers and the Group Companies in respect of the Sellers'
 Warranties to the extent the relevant matters are Disclosed.

7.12 The
 Company has filed all reports (the "**SEC Reports**") required to be filed
 by it under the Securities Act and the Exchange Act, including pursuant to Section 13(a)
 or 15(d) of the Exchange Act, on a timely basis. As of their respective dates, to the knowledge
 of the Sellers, the SEC Reports complied in all material respects with the requirements of
 the Securities Act and the Exchange Act and the rules and regulations of the SEC promulgated
 thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a
 material fact or omitted to state a material fact required to be stated therein or necessary
 in order to make the statements therein, in light of the circumstances under which they were
 made, not misleading. The financial statements of the Company included in the SEC Reports
 complied in all material respects with applicable accounting requirements and the rules and
 regulations of the SEC with respect thereto as in effect at the time of filing. To the knowledge
 of the Sellers, there are no unresolved comments of the SEC that are required to be disclosed
 in the SEC Reports. The Sellers have provided to the Purchasers copies of all correspondence
 with the SEC or any state regulatory authority. To the knowledge of the Sellers, none of
 the Company, the Sellers or any of their Affiliates is or has been subject to any investigation
 or proceeding with the SEC, Nasdaq or any state regulatory authority.

7.13 Neither
 such Seller nor any of its Affiliates nor to the knowledge of each Seller, any person acting
 on its behalf has conducted or will conduct any general solicitation (as that term is used
 in Rule 502 of Regulation D) or general advertising with respect to any of the Subject Shares,
 or made any offers or sales of any security or solicited any offers to buy any security under
 any circumstances that would require registration of the Subject Shares under the Securities
 Act.

7.14 Save
 as Disclosed, the Company is not a party to or bound by any agreement or understanding granting
 registration or anti-dilution rights to any person with respect to any of its equity or debt
 securities; no person has a right to purchase or acquire or receive any equity or debt security
 of the Company.

**8.** **REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS** 

8.1 The
 Purchasers represent and warrant to the Sellers that the Recitals (to the extent relevant
 to the Purchasers), this Section 8, and each of the Purchasers' Warranties as set out
 in Schedule II are true, correct and complete in all material respects and not misleading
 in any material respect as at the date of this Agreement and as at Closing Date.

8.2 The
 Purchasers accept and acknowledge that the Sellers are entering into this Agreement in reliance
 upon the Purchasers' Warranties.

8.3 Each
 of the Purchasers' Warranties shall be construed as a separate and independent warranty
 and shall not be limited or restricted by reference to or inference from the terms of any
 other Purchasers' Warranty or any other term of this Agreement.

8.4 After
 the date of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 the Purchasers become aware that any Purchasers' Warranty given as at the date of this
 Agreement is untrue, inaccurate or misleading in any material respect; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 the Purchasers become aware of any matter or circumstances which has arisen which is reasonably
 likely to render any of the Purchasers' Warranties untrue, inaccurate or misleading
 in any material respect (as if the Purchasers' Warranties were repeated on Closing),

the Purchasers shall as soon as reasonably practicable thereafter notify the Sellers in writing.

8.5 The
 Purchasers' Warranties shall be deemed to be repeated as at the Closing by reference
 to the facts and circumstances existing at that time.

**9.** **COSTS AND STAMP DUTY** 

9.1 The
 Sellers and the Purchasers shall bear his/her/its own legal and professional fees, costs
 and expenses incurred in connection with the negotiation, preparation, execution and implementation
 of this Agreement and all documents relating to or in connection with Closing.

9.2 All
 stamp duty payable (if any) in respect of the sale and purchase of the Subject Shares shall
 be borne equally by the Sellers on the one part and the Purchasers on the other part.

**10.** **INDEPENDENT LEGAL ADVICE** 

10.1 Each
 of the Parties hereby acknowledges that it **/** he has been afforded the opportunity to
 obtain independent legal advice and confirms by the execution and delivery of this Agreement
 that they have either done so or waived their right to do so in connection with the entering
 into of this Agreement.

**11.** **GENERAL** 

11.1 This
 Agreement shall be binding on and shall enure to the benefit of each Party's successors
 and assigns, but no party may assign any of its rights or obligations hereunder without the
 prior written consent of the other Parties.

11.2 Time
 shall be of the essence of this Agreement.

11.3 The
 failure to exercise, or any delay in exercising, a right or remedy provided by this Agreement
 or by any Applicable Laws shall not impair or constitute a waiver of such right or remedy
 or an impairment of or a waiver of any other right or remedy. No waiver by any party of any
 condition, or the breach of any term, covenant, representation or warranty contained in this
 Agreement, whether by conduct or otherwise, in any one or more instances shall be deemed
 to be or construed as a further or continuing waiver of any such condition or breach or a
 waiver of any other term, covenant, representation or warranty of this Agreement.

11.4 This
 Agreement may be signed in any number of counterparts, each of which shall be binding on
 the Party who shall have executed it and which together shall constitute but one agreement.

11.5 This
 Agreement sets forth the entire agreement and understanding between the Parties in relation
 to the Company and the subject matter of this Agreement and supersedes all previous agreements,
 letters of intent, correspondence, understandings, agreements and undertakings (if any) between
 the Parties with respect to the subject matter hereof, whether written or oral.

11.6 All
 provisions of this Agreement shall so far as they are capable of being performed or observed
 continue in full force and effect notwithstanding Closing except in respect of those matters
 then already performed.

11.7 The
 invalidity, illegality or unenforceability of any provision of this Agreement shall not affect
 or impair the continuation in force of the other provisions of this Agreement.

11.8 Except
 to the extent required by the relevant Applicable Laws, no Party shall (and shall procure
 that none of its directors, employees, independent contractors or subsidiaries shall) at
 any time disclose to any person (other than professional advisers who are subject to obligations
 of confidentiality) the terms of this Agreement or any trade secret or other confidential
 information relating to the Company or the Parties, or make any use of such information other
 than to the extent necessary for the purpose of exercising or performing its rights and obligations
 under this Agreement.

11.9 The
 Sellers and Purchasers further assure that, at the request of and at the costs of the Purchasers,
 they shall (and shall procure any relevant third party to) do and execute or procure to be
 done and executed all such further acts, deeds, documents and things as may be necessary
 to give full effect to the terms and intent of this Agreement.

11.10 The
 Parties agree that this Agreement shall be deemed to have been severally and jointly drafted
 by them, unless otherwise expressly provided herein, and that the provisions of this Agreement
 therefore shall not be construed against a Party or Parties on the ground that such Party
 or Parties drafted or was more responsible for the drafting of any such provision(s). The
 Parties further agree that they have each carefully read the terms and conditions of this
 Agreement, that they know and understand the contents and effect of this Agreement and that
 the legal effect of this Agreement has been fully explained to its satisfaction by counsel
 of its own choosing.

11.11 This
 Agreement may be amended, modified, superseded or cancelled, and any of the terms, covenants,
 representations, warranties or conditions hereof may be waived, only by a written instrument
 executed by the Parties hereto.

11.12 If
 any term, provision, covenant or restriction of this Agreement is held by a court of competent
 jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the
 terms, provisions, covenants and restrictions of this Agreement shall remain in full force
 and effect and shall in no way be affected, impaired or invalidated so long as the economic
 or legal substance of the transactions contemplated hereby is not affected in any manner
 materially adverse to any party. Upon such determination, the Parties shall negotiate in
 good faith to modify this Agreement so as to effect the original intent of the Parties as
 closely as possible in an acceptable manner in order that the transactions contemplated hereby
 be consummated as originally contemplated to the fullest extent possible.

**12.** **NOTICES** 

12.1 Any
 notice, demand or other communication required or permitted to be given under this Agreement
 shall be in writing and shall be delivered personally, sent by prepaid registered post, or
 sent by email to the address or email address of the relevant Party set out below (or such
 other address or email address as the relevant Party may specify by notice in writing to
 the other Party):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If to the Sellers:

SE Hok Pan

Avenida 24 De Junho EDF. The Paragon, Macau

Easy Bliss Limited

4<sup>th</sup> Floor

Waters Edge Building, Meridian Plaza, Road Town

Tortola VG 1110

British Virgin Islands

E-mail address: lucasse@nature-wood.com

Linking Stars Limited

4<sup>th</sup> Floor

Waters Edge Building, Meridian Plaza, Road Town

Tortola VG 1110

British Virgin Islands

E-mail address: lucasse@nature-wood.com

More Choice Global Limited

4<sup>th</sup> Floor

Waters Edge Building, Meridian Plaza, Road Town

Tortola VG 1110

British Virgin Islands

Email address: lucasse@nature-wood.com

Chan Wing Luk

3619, 36/F, Convention Plaza Apartment, No 1 Harbour Road, Wanchai, Hong Kong

Huang Qing Cai

Flat C, 23/F, Luna Sky, The Cullinan 1, 1 Austin Rd West, Tsim Sha Tsui, Hong Kong

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If to the Purchasers:

Tutu Business Services Limited

Intershore Chambers, Road Town

Tortola, British Virgin Islands

Email address: baozaotutu666@163.com

LIANG Yanxia

Room 808, Unit 2, Building 17, Moliyuan, Huagang Xingfu City, District, Nanjing City, Jiangsu Province, China

LI Xianfeng

Room 302, Building 52, North District Heyuan Xindu, Kaixi Road, Nanhu District, Jiaxing City, Zhejiang Province, China

MIAO Huiping

Rm 202, Unit 1, Bldg 20, North District, Heyuan New Town, Nanhu, Jiaxing, Zhejiang Province 314000 China

WANG Lei

Unit 101, Building 9, Entrance 2, Zijun Shanshui Yijing, Tianzhufeng Road, Taishan District, Tai'an City, Shandong Province, China

WANG Gang

Room 2318, Anxiaowo Apartment, Huaqiang Square, Fuhai Sub-District, Bao'an District, Shenzhen City, Guangdong Province, China

12.2 Any
 notice, demand or other communication shall be deemed to have been served:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If
 delivered personally, at the time of delivery;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If
 sent by prepaid registered post, 48 hours after posting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If
 sent by email, at the time of transmission (provided that the sender does not receive an
 automated message indicating that the email has not been delivered).

**13.** **THIRD PARTY RIGHTS** 

Nothing in this Agreement shall create or confer upon any Person, other than the Parties or their respective successors and permitted assigns, any rights, remedies, obligations or liabilities.

**14.** **GOVERNING LAW AND JURISDICTION** 

14.1 The
 Agreement shall be governed by and construed in accordance with the laws of New York, without
 giving effect to the principles thereof relating to conflict of laws. Each Party agrees that
 all legal proceedings concerning the interpretations, enforcement and defence of the transactions
 contemplated hereby and any other Transaction Documents shall be commenced exclusively in
 the state and federal courts sitting in the County of New York.

14.2 The
 Parties (a) hereby irrevocably and unconditionally submit to the non-exclusive jurisdiction
 of the state courts located in New York, New York and to the jurisdiction of the United States
 District Court for the Southern District of New York for the purpose of any suit, action
 or other proceeding arising out of or based upon this Agreement, (b) agree not to commence
 any suit, action or other proceeding arising out of or based upon this Agreement except in
 the state courts located in New York, New York or the United States District Court for the
 Southern District of New York, and (c) hereby waive, and agree not to assert, by way of motion,
 as a defence, or otherwise, in any such suit, action or proceeding, any claim that it is
 not subject personally to the jurisdiction of the above-named courts, that its property is
 exempt or immune from attachment or execution, that the suit, action or proceeding is brought
 in an inconvenient forum, that the venue of the suit, action or proceeding is improper or
 that this Agreement or the subject matter hereof may not be enforced in or by such court.

14.3 **WAIVER OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.** 

14.4 Each
 of the Parties to this Agreement consents to personal jurisdiction for any equitable action
 sought in the U.S. District Court for the Southern District of New York or any court located
 in New York, New York having subject matter jurisdiction.

**15.** **TERMINATION** 

15.1 This
 Agreement may be terminated:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by
 the Sellers in accordance with Sections 5.4;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by
 the Purchasers in accordance with Sections 2.2, 3.3, 5.4 or 7.3;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if
 any of the Conditions set out in Section 4.1 have not been satisfied or waived by the End
 Date (or such later date as may be agreed in writing), unless otherwise expressly provided
 herein; provided that a Party shall not be entitled to terminate this Agreement pursuant
 to this Section 15.1(c) if the failure of Closing to occur on or prior to such date has been
 caused by its own material breach of this Agreement. For the avoidance of doubt, any refunds
 or forfeitures upon termination shall remain governed by Section 3; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) by
 mutual written agreement of all the Parties.

15.2 Upon
 termination of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any
 obligations of the Parties under this Agreement shall cease, except as expressly provided
 herein; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 rights or obligations accrued prior to termination (including rights to claim for breach)
 shall survive.

15.3 Termination
 of this Agreement shall not affect any clause which is expressed or intended to survive termination,
 or any rights or remedies accrued up to the date of termination.

**16.** **INDEMNIFICATION** 

16.1 <u>Indemnification by Sellers</u>. Each Seller (severally but not jointly) shall indemnify and hold harmless
 each Purchaser and its Affiliates, representatives, and their respective successors and assigns
 from and against any and all direct and reasonably foreseeable damages, losses, liabilities,
 taxes, costs and expenses (including reasonable attorney's fees and costs) (collectively,
 "**Losses**") arising out of or resulting directly from (a) any material breach
 by such Seller of its representations and warranties under this Agreement; or (b) any material
 breach by such Seller of its covenants or obligations expressly stated to survive Closing.
 The maximum aggregate liability of each Seller pursuant to this Section 16.1 shall not exceed
 the portion of the Purchase Price actually received by such Seller.

16.2 <u>Indemnification by Purchasers</u>. Each Purchaser (severally but not jointly) shall indemnify and hold harmless
 the Sellers and Sellers' Affiliates, representatives and their respective successors
 and assigns from and against any and all Losses arising out of or resulting directly from
 (a) any material breach by such Purchaser of its representations and warranties under this
 Agreement; or (b) any material breach by such Purchaser of its covenants or obligations expressly
 stated to survive Closing. The maximum aggregate liability of each Purchaser pursuant to
 this Section 16.2 shall not exceed the sum of the Purchase Price paid by such Purchaser.

16.3 <u>Survival</u>.
 No claim may be made or no proceeding may be instituted seeking indemnification pursuant
 to the Section 16.1 or the Section 16.2 unless written notice describing the Claim in reasonable
 detail (in light of the circumstances then known to the party seeking indemnification, the
 "**Indemnified Party**") is delivered to the party against whom indemnity
 is sought (the "**Indemnifying Party**") within the following periods: (i)
 in the case of any claim for breach of a representation or warranty, within fourteen (14)
 months after the Closing Date; (ii) in the case of any claim for non-performance or breach
 of a covenant or agreement, at any time in accordance with its terms (unless the relevant
 covenant expressly provides a shorter survival period). For the avoidance of doubt, if a
 notice of claim is delivered within the applicable time period, the relevant representation,
 warranty, covenant, or agreement shall survive until such claim is finally resolved.

(*the remainder of the page is intentionally left blank*)

**IN WITNESS WHEREOF** the Parties have duly executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **<u>SELLERS</u>** | **<u>SELLERS</u>** |
| **SE HOK PAN** | **SE HOK PAN** |
| By: | */s/ Se Hok Pan* |
|  | Se Hok Pan, Individually |
| **EASY BLISS LIMITED** | **EASY BLISS LIMITED** |
| **LINKING STARS LIMITED** | **LINKING STARS LIMITED** |
| **MORE CHOICE GLOBAL LIMITED** | **MORE CHOICE GLOBAL LIMITED** |
| **CHAN WING LUK** | **CHAN WING LUK** |
| and | and |

---

---

| | |
|:---|:---|
| **HUANG QING CAI** | **HUANG QING CAI** |
| By: | */s/ Se Hok Pan* |
| Name: | Se Hok Pan |
| Title: | Authorized Representative |

---

---

| | |
|:---|:---|
| **<u>PURCHASERS</u>** | **<u>PURCHASERS</u>** |
| **TUTU Business Services Limited** | **TUTU Business Services Limited** |
| By: | */s/ Liying Wang* |
| Name: | Liying Wang |
| Title: | Director |

---

---

| |
|:---|
| **LIANG Yanxia** |
| */s/ Liang Yanxia* |
| **LI Xianfeng** |
| */s/ Li Xianfeng*  |
| **MIAO Huiping** |
| */s/ Miao Huiping* |
| **WANG Lei** |
| */s/ Wang Lei* |
| **WANG Gang** |
| */s/ Wang Gang* |

---

**<u>SCHEDULE I</u>**

**SELLERS' WARRANTIES**

**1.** **General** 

1.1 The
 information in this Agreement (including the Recitals and as set out in the Schedules), except
 those relating to the Purchasers, are true, complete and accurate in all material respects
 and not misleading in any material respect whether by omission or otherwise.

1.2 To
 each of the Sellers' reasonable knowledge, information and belief, all information
 supplied or Disclosed by or on behalf of the Sellers, members of the Group and any directors
 of members of the Group to the Purchasers or the legal and other professional advisers to
 the Purchasers for the purpose of this Agreement is true and accurate in all material respects
 and not misleading in any material respect.

1.3 To
 each of the Sellers' reasonable knowledge, information and belief, there is no information
 about any event or circumstance giving rise to a Material Adverse Effect that has not been
 Disclosed.

**2.** **Subject Shares** 

2.1 Each
 Seller is the sole legal, record and beneficial owner of the Subject Shares set opposite
 its name in Recitals and has full power and authority to sell and transfer such Subject Shares
 free from all Encumbrances, together with all rights attaching or accruing to such Subject
 Shares.

2.2 The
 Subject Shares are fully paid and non-assessable, and are not subject to any option, warrant,
 pre-emption right, lien, charge, pledge, restriction or other Encumbrance (other than the
 resale restrictions disclosed in Section 2.3 or otherwise disclosed in this Agreement).

2.3 The
 Subject Shares will represent approximately 86.82% of the total issued and outstanding shares
 of the Company upon Closing.

2.4 Such
 Seller does not own any options, derivatives, warrants or securities which are convertible
 or exchangeable into any Shares, and has not entered into any agreement for the issue of
 such options, derivatives, warrants or securities which are convertible or exchangeable into
 any Shares.

Schedule I-1

**3.** **Authority and Capacity of Sellers** 

3.1 Each
 Seller has requisite right, power authority and capacity to enter into and perform this Agreement,
 to consummate the transactions contemplated hereby and to perform his obligations under this
 Agreement.

3.2 This
 Agreement, when executed, will constitute legal, valid, binding and enforceable obligations
 on the Sellers in accordance with its terms.

3.3 The
 execution and performance of this Agreement by each Seller will not violate or breach any
 Applicable Laws binding on or in relation to such Seller.

**4.** **The Group** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 All
 corporate or other documents, accounts, returns and resolutions required by all Applicable
 Laws to be filed or registered in respect of the Group with the relevant authorities have
 been duly filed or registered in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 The
 statutory books and minute books of the Group have been properly written up in all material
 respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 Each
 of the Company and the Subsidiaries has (i) complied with its constitutional documents in
 all material respects, and (ii) obtained all material licences, consents and other permissions
 and regulatory or third party approvals required for the business activities and transactions
 of the Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 There
 is no material violation of, or breach with respect to, any ordinance, statute, regulation,
 order, decree or judgement of any court or any government agency of any jurisdiction by the
 Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 Information
 and belief, no events or omissions have occurred whereby the constitution, subsistence, registration
 or corporate status of the members of the Group has been or is reasonably likely to be materially
 and adversely affected.

**5.** **Liabilities and Accounting Records** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 Save
 for those relating to the ordinary course of business of the Group, there will be no outstanding
 guarantee, indemnity, surety, security or comfort (whether or not legally binding) given
 by the Group in respect of the obligations or liabilities of any third parties upon Closing.

Schedule I-2

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 The
 Group will upon Closing have sufficient assets to discharge its outstanding liabilities as
 at Closing which arise from events or activities occurring on or before the Closing Date
 (including without limitation Tax liabilities) in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 The
 accounting and other books and records of the Group are in its possession, up-to-date and
 have been properly written up, maintained and accurately present and reflect in accordance
 with International Financial Reporting Standards as issued by the International Accounting
 Standards Board and practices all the transactions entered into by each Group member or to
 which a Group member has been a party in all material respects.

**6.** **Taxation** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 The
 Group has within the requisite time limits duly made all material returns, given all notices,
 and supplied all other information required under all Applicable Laws to be supplied to any
 competent fiscal authority in British Virgin Islands, Macau and the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 Each
 of the Company and the Subsidiaries is not in and not subject to any material dispute with
 competent tax authorities in British Virgin Islands, Macau at the date hereof.

**7.** **Litigation** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 The
 Group is not a party to any material proceedings and no material proceedings are threatened
 or pending either by or against the Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 There
 are no facts or circumstances which are reasonably likely to result in any material proceedings
 being bought by or against the Group or against any person for whose acts or defaults the
 Group may be vicariously liable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 There
 are no material unfulfilled or unsatisfied judgments, court orders or tribunal or arbitral
 awards outstanding against the Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 There
 are no investigations, disciplinary proceedings or other circumstances reasonably likely
 to lead to any material Claim or legal action, proceeding, suit, litigation, prosecution,
 official investigation, enquiry or arbitration.

**8.** **Contracts and Commitments** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 The
 Company or the Subsidiaries is not in material breach of any deed, agreement or undertaking
 to which it is a party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 No
 party with whom the Company or the Subsidiaries has entered into any material agreement or
 arrangement is in default thereunder.

Schedule I-3

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 The
 Group has not given any power of attorney or any other authority (express, implied or ostensible)
 which is still outstanding or effective to any person to enter into any contract or commitment
 or do anything on its behalf that would have a Material Adverse Effect on the Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 No
 offer, tender or the like which is capable of being converted into material obligation of
 the Group by an acceptance or other act of some other person is outstanding.

**9.** **Solvency** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 No
 order has been made or petition presented or resolution passed for the winding up of the
 Group, nor has any distress, execution or other process been levied against the Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 No
 steps have been taken for the appointment of an administrator or receiver of any part of
 the property, assets, undertakings or business of the Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 None
 of the Company and the Subsidiaries is insolvent or unable to pay its debts as they fall
 due.

**10.** **Employees** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 The
 Group will not upon Closing be a party to and will not have any material agreement, arrangement
 or scheme, except those Disclosed and/or according to any Applicable Laws, and/or any transactions
 contemplated under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 Each
 of the Company and the Subsidiaries has not breached any material statutory requirements
 in relation to employment of its staff.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 No
 circumstances have arisen under which the Subsidiaries are required to pay, or is reasonably
 likely to be required to pay, material damages in relation to the dismissal of or to reinstate
 or re-engage any former employee upon Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 There
 is no term of employment for any employee or engagement of any consultant of the Company
 or the Subsidiaries which provides that a change of direct or indirect shareholding of the
 Company or the Subsidiaries as amounting to a breach of contract, entitling him to any material
 payment or benefit or entitling him to treat himself as dismissed or released from any obligation.

**11.** **Insurance** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 The
 Group has effected and maintains valid policies of insurance in an amount and to the extent
 that it is required to maintain under all applicable legislations and laws and necessary
 for the conduct of the business of the Group, including without limitation, insurance policies
 covering Claims arising from workplace safety in all material respects.

Schedule I-4

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 All
 material premiums due in respect of such policies of insurance have been paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 There
 are no circumstances which would or is reasonably likely to entitle the Group to make a material
 Claim under any of the policies or which would or might be required under any of the policies
 to be notified to the insurers.

**12.** **Intellectual Property** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 The
 definition in this paragraph applies in this agreement:

**Intellectual Property Rights:** all intellectual property rights owned by the Group, including patents, utility models, rights to inventions, copyright and neighbouring and related rights, moral rights, trade marks and service marks, business names and domain names, rights in get-up and trade dress, goodwill and the right to sue for passing off or unfair competition, rights in designs, rights in computer software, database rights, rights to use, and protect the confidentiality of, confidential information (including know-how and trade secrets), and all other intellectual property rights, in each case whether registered or unregistered and including all applications and rights to apply for and be granted, renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent rights or forms of protection which subsist as at the date of this Agreement in any part of the world.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 The
 Company or the Subsidiary(ies) is the sole legal and beneficial owner of (or applicant for)
 the Intellectual Property Rights free from all Encumbrances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3 The
 Company or the Subsidiaries has not used any Intellectual Property Right in a manner that
 infringes the Intellectual Property Rights of any third party and there are no outstanding
 material claims against the Company or the Subsidiaries for such infringement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4 The
 Company or the Subsidiaries does not require any other material Intellectual Property Rights
 other than those currently owned in order to carry on the business as it is conducted at
 the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5 The
 Intellectual Property Rights are valid, subsisting and enforceable and nothing has been done,
 or not been done, as a result of which any of them has ceased or might cease to be valid,
 subsisting or enforceable in all material respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6 Nothing
 is due to be done the omission of which would jeopardise the maintenance or prosecution of
 any of the Intellectual Property Rights owned or used by the Company or the Subsidiaries
 which are registered or the subject of an application for registration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7 There
 has been no material infringement by any third party of any of the Intellectual Property
 Rights, nor any third party breach of confidence, passing off or actionable act of unfair
 competition in relation to the business and assets of the Company or the Subsidiaries.

Schedule I-5

**13.** **Properties** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 Each
 relevant Group Company has observed and performed in all material respects all material covenants,
 restrictions, stipulations and other Encumbrances under the leases entered into by such Group
 Company (the **"Leases"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2 In
 relation to the Leases, all material lease sums have been paid as and when they became due.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3 The
 transactions contemplated herein do not constitute a ground for termination of the Leases.

**14.** **Assets** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1 The
 latest audited consolidated financial statements of the Group for the fiscal year ended December
 31, 2024 show the true and fair value of the net tangible asset value of the Group in all
 material respects as of December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2 The
 Group holds all its assets as the legal and beneficial owner thereof free from any Encumbrance
 on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3 None
 of the assets, undertaking or goodwill of the Group is subject to an Encumbrance or any agreement
 or commitment to create an Encumbrance, and to each of the Sellers' reasonable knowledge,
 information and belief, no person has claimed to be entitled to create such an Encumbrance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.4 The
 assets owned by the Group comprise all the assets necessary for the continuation of the business
 of the Group as it is carried on at the date of this Agreement.

**15.** **Licence, permit and authorization** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1 The
 business of the Group is in all in compliance with all material Applicable Laws in material
 respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2 The
 Group possesses all material certificates issued by, and has made all material declarations
 and filings with, the appropriate governmental or regulatory authorities that are necessary
 for its conduct of business. To each of the Sellers' reasonable knowledge, information
 and belief, neither the Company nor any Subsidiary has received written notice of any proceeding
 relating to revocation or modification of any such material certificate or has any reason
 to believe that such certificate will not be renewed in the ordinary course, except where
 the failure to obtain any such renewal would not, individually or in the aggregate, have
 a Material Adverse Effect.

Schedule I-6

**16.** **Financial Matters** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1 There
 has not been:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any
 material damage, destruction, or loss, whether covered by insurance or not, materially adversely
 affecting the properties, assets or business of the Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 material sale or transfer by the Company or the Subsidiaries of any material tangible or
 intangible asset other than in the ordinary course of business, any mortgage or pledge or
 the creation of any security interest, lien, or encumbrance on any such asset, or any lease
 of property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any
 material transaction not in the ordinary course of business of the Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) lapse
 of any material patent, utility models, design, trademark, trade name, service mark, copyright,
 or licence or any application with respect to the foregoing by the Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the
 making of any material loan, advance, indemnity or guarantee by the Group to or for the benefit
 of any person except the creation of accounts receivable in the ordinary course of business;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) an
 agreement to do any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2 The
 accounting books and records of the Group have been maintained in accordance with the applicable
 accounting principles adopted in the jurisdictions where the Group's business is conducted
 and comply with the relevant statutory provisions of such jurisdictions and have been properly
 written up and properly reflect all the material transactions to which the Group has been
 a party and there are at the date hereof no material inaccuracies or discrepancies of any
 kind contained or reflected in the said books and records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.3 Save
 as in the ordinary course of business and/or any commitment in relation to this Agreement,
 the Group does not have any material capital commitment or is engaged in any scheme or project
 requiring the expenditure of capital of an aggregate amount more than 100% of the Purchase
 Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4 The
 Group does not have any material obligations or liabilities other than those which have arisen
 in the ordinary course of its business or by operation of law or Disclosed in the financial
 statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.5 The
 Group has not as at the date hereof and will not, as at Closing, have outstanding any significant
 borrowing, indebtedness, mortgage, charge, debenture, guarantee or contingent obligation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.6 All
 material dividends or distributions declared, made or paid by the Company or the Subsidiaries
 have been declared, made or paid in accordance with its articles of association (or equivalent
 documents) and the applicable statutory provisions.

**17.** **Listing Status** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.1 The
 listing status of the Company on the Nasdaq is valid and subsisting and the Company has not
 committed any breach or omitted to comply with the applicable laws and regulations that may
 threaten its listing status.

**18.** **Miscellaneous** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.1 No
 material consents or approvals from third parties or government or regulatory authorities
 are required for the performance of the obligations under this Agreement that have not already
 been obtained as of the relevant Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.2 The
 performance of this Agreement will not cause or be a ground for termination for any material
 agreement (including without limitation banking facilities agreement, lease, supply contracts
 and licensing agreements) entered into by any of the Group Companies in its ordinary and
 usual course of business.

Schedule I-7

**<u>SCHEDULE II</u>**

**PURCHASERS' WARRANTIES**

1. Each
 Purchaser is not a "U.S. Person" as defined in Rule 902 of Regulation S promulgated
 under the 1933 Act. Each Purchaser is acting as principal, not agent for person.

2. Each
 Purchaser acknowledges that such Purchaser was not in the United States at the time the offer
 to purchase the Seller Shares was received from the Seller and that all substantive negotiations
 and communications between the Sellers and the Purchasers have occurred outside the United
 States.

3. TUTU
 has the corporate power, authority and capacity to execute and deliver this Agreement, to
 perform its obligations hereunder, and to consummate the transactions contemplated hereby.
 All consents, orders, approvals and other authorizations, whether governmental, corporate
 or otherwise, necessary for such execution, delivery and performance by the Purchasers of
 this Agreement and the transactions contemplated hereby have been obtained and are in full
 force and effect.

4. Each
 Purchaser has full legal capacity and, if required, has obtained or will obtain prior to
 Closing, all authorizations or approvals under the home country to enter into and exercise
 his rights and perform his obligations under this Agreement and other ancillary transaction
 documents, when executed, will constitute legal, valid, binding and enforceable obligations
 on the Purchasers in accordance with its terms.

5. The
 Purchasers are acquiring the Subject Shares in an offshore transaction as defined in Regulation
 S. The offer and sale of the Subject Shares were not made to the Purchasers in the United
 States, and the Purchasers were outside the United States at the time the offer was made
 and at the time the Purchase Agreement was entered into.

6. The
 Purchasers agree that the Subject Shares have not been registered under the Securities Act
 and may not be offered or sold in the United States absent registration or an applicable
 exemption from registration under the Securities Act.

7. The
 Purchasers acknowledge and agree that they will not engage in hedging transactions involving
 the Subject Shares unless in compliance with the Securities Act.

8. The
 Purchasers agree that they will not offer or sell the Subject Shares to any U.S. Person or
 in the United States during the applicable distribution compliance period (as defined in
 Regulation S), except pursuant to an effective registration statement or a valid exemption
 from the registration requirements under the Securities Act.

9. The
 Purchasers acknowledge that the Subject Shares are "restricted securities" as
 defined under Rule 144 under the Securities Act and will remain subject to resale restrictions
 under U.S. securities laws upon Closing.

Schedule II-1<br>

10. Each
 Purchaser has taken all necessary action to enter into and perform this Agreement and to
 carry out the transactions contemplated hereby.

11. The
 execution, delivery and performance of this Agreement by the Purchasers do not and will not
 result in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any
 violation or breach of any provision of any applicable laws or regulations in Cayman Islands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a
 breach of, or constitute a default under, any instrument to which each Purchaser is a party
 or by which such Purchaser is bound; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a
 violation of any Applicable Laws or any order, judgement or decree of any court or governmental
 agency or agreement to which each Purchaser is party or by which such Purchaser is bound.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. The
 Purchasers have and will have sufficient funds to pay the Purchase Price in full and in the
 manner as provided in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. There
 are no litigation, arbitration or administrative proceedings pending or threatened against
 the Purchasers before any court, arbitral body or agency, which might reasonably be expected
 to have a Material Adverse Effect on their ability to perform their obligations under this
 Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Each
 Purchaser is an informed and sophisticated investor, and has engaged expert advisors, experienced
 in transactions of the type contemplated by this Agreement. The Purchaser further represents
 that it has evaluated all information it deems necessary, desirable and appropriate to evaluate
 the merits and risks of the transactions contemplated herein and has received such legal
 and financial other advice as deemed to be necessary, desirable and appropriate to enable
 it to make an informed and intelligent decision with respect to the execution, delivery and
 performance of this Agreement. In evaluating the suitability of the transactions contemplated
 herein, each Purchaser has not relied upon any representations or information whether oral
 or written made by or on behalf of the Sellers other than the warranties of the Sellers expressly
 set forth in this Agreement.

Schedule II-2<br>

**<u>EXHIBIT A</u>**

---

| | | |
|:---|:---|:---|
|  | **Name of Purchasers** | **Number of Subject Shares** |
| 1 | TUTU Business Services Limited | 92932850 |
| 2 | LIANG Yanxia | 1980542 |
| 3 | LI Xianfeng | 5894296 |
| 4 | MIAO Huiping | 5000000 |
| 5 | WANG Lei | 3300011 |
| 6 | WANG Gang | 5866480 |
|  | **Total** | **114974179** |

---

**<u>EXHIBIT B</u>**

**<u>FORM OF SELLERS' CLOSING CERTIFICATE</u>**

**<u>EXHIBIT C</u>**

**<u>FORM OF PURCHASERS' CLOSING CERTIFICATE</u>**

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**Nature Wood Group Limited**

*(Name of Issuer)*

**American Depositary Shares, each representing eight Ordinary Shares, par value $0.001 per share**

*(Title of Class of Securities)*

**63903R106**

*(CUSIP Number)*

**Lawrence S. Venick, Esq.**<br>2206-19 Jardine House<br>1 Connaught Place, Central<br>Hong Kong K3 000000<br>852-3923-1111

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**10/22/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **63903R106** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Wing Luk CHAN** | Name of reporting person<br>**Wing Luk CHAN** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**HONG KONG** | Citizenship or place of organization<br>**HONG KONG** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** This Amendment No. 1 to Schedule 13D (this "Amendment No. 1") amends and supplements the Schedule 13D filed with the United States Securities and Exchange Commission (the "SEC") on November 16, 2023 (the "Original Schedule 13D"). This Amendment No. 1 is being filed to reflect the disposition of the Reporting Person's entire beneficial ownership of ordinary shares of Nature Wood Group Limited (the "Issuer") pursuant to a share purchase agreement dated October 22, 2025. Except as specifically amended hereby, all information set forth in the Original Schedule 13D remains unchanged and is incorporated herein by reference.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
American Depositary Shares, each representing eight Ordinary Shares, par value $0.001 per share

**(b) Name of Issuer:**
Nature Wood Group Limited

**(c) Address of Issuer's Principal Executive Offices:**
Avenida da Amizade no. 1287, Chong Fok Centro Comercial, 13E, Macau, N5, 000000

This Amendment No. 1 relates to the ordinary shares, par value US$0.001 per share (the "Ordinary Shares"), of Nature Wood Group Limited, a company incorporated in the British Virgin Islands (the "Issuer"). The Issuer's American depositary shares ("ADSs"), each representing eight Ordinary Shares, are listed on The Nasdaq Capital Market under the symbol "NWGL." The Reporting Person held Ordinary Shares directly and did not hold ADSs.

**Item 4. Purpose of Transaction**

On October 22, 2025, the Reporting Person disposed of all of his 7,516,484 Ordinary Shares of Nature Wood Group Limited (the "Issuer") pursuant to a share purchase agreement dated October 22, 2025 (the "Share Purchase Agreement"). The transaction formed part of a broader private sale by the Reporting Person and certain other existing shareholders (collectively, the "Sellers") to a group of purchasers (collectively, the "Purchasers") involving an aggregate of 114,974,179 Ordinary Shares, representing approximately 86.82% of the Issuer's issued and outstanding Ordinary Shares. Following completion of the sale, the Reporting Person ceased to be the beneficial owner of more than five percent of the class of securities.

The Reporting Person has no present plans or proposals that relate to or would result in any of the matters set forth in paragraphs (a) through (j) of Item 4 of this Amendment No. 1.

**Item 5. Interest in Securities of the Issuer**

**(a)**
As of October 22, 2025, the Reporting Person beneficially owns 0 Ordinary Shares of the Issuer, representing 0 % of the Issuer's total outstanding Ordinary Shares.

**(b)**
The Reporting Person has no sole or shared power to vote or to dispose of any Ordinary Shares.

**(c)**
Except as described below, the Reporting Person has not effected any transactions in the Ordinary Shares of the Issuer during the sixty days preceding the date of this filing. On October 22, 2025, the Reporting Person disposed of 7,516,484 Ordinary Shares of the Issuer in a private, off-market transaction pursuant to the Share Purchase Agreement, at a price of US$0.0592 per Ordinary Share.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Except for the Share Purchase Agreement described in Item 4 above, as of October 22, 2025, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the Reporting Person or between the Reporting Person and any other person, with respect to any securities of the Issuer.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Wing Luk CHAN

**Signature:** /s/ Wing Luk CHAN

**Name/Title:** Wing Luk CHAN

**Date:** 10/24/2025