Document:

Exhibit 10.6

 

股权质押协议

 

Equity Pledge Agreement

 

本股权质押协议
(下称“本协议”)由下列各方于
2021年1月
7日在中华人民共和国(下称“中国”)福州签订:

 

This Equity
Pledge Agreement (this “Agreement”) has been executed by and among the following parties on January 7, 2021 in Fuzhou,
the People’s Republic of China (“China” or the “PRC”):

 

		甲方:	福建天裕盛丰物流有限公司(下称“质权人”)

 

		地址:	福建省福州高新区乌龙江中大道7#创新园二期17号楼10层1087-2室

 

		Party	A: Fujian Tianyu Shengfeng Logistics Co., Ltd. (hereinafter
“Pledgee”)

 

		Address:	1087-2 Room, 10th Floor, Building No.17, Phase II of the Creative
Park No.7# Wulongjiang Central Avenue, Fuzhou High-tech District, Fujian, PRC

 

	乙方:	[Name of Shareholder](下称“出质人”)	 
	 	 	 
	地址:		 
	 	 	 
	Party B:	[Name of Shareholder] (hereinafter “Pledgor”)	 
	 	 	 
	Address: 	 	 
	 	 	 
	丙方:	盛丰物流集团有限公司	 
	 	 	 
	地址:	福州市晋安区福新东路478号	 
	 	 	 
	Party C:	Shengfeng Logistics Group Co., Ltd.	 
	 	 	 
	Address:	 No.478 Fuxin East Road, Jinan District, Fuzhou, PRC	 

 

在本协议中,质权人、出质人和丙方以下各称“一方”,合称“各方”。

 

In this Agreement, each of Pledgee,
Pledgor and Party C shall be referred to as a “Party” respectively, and they shall be collectively referred to as the
“Parties”.

 

Equity Pledge Agreement

股权质押协议

 

    1

     

    

 

鉴于:

 

Whereas:

 

		1.	出质人是一名中国公民/一家在中国注册的合伙企业/一家在中国注册的有限责任公司,身份证号码为_____________________,现登记拥有丙方____%的股权。丙方是一家在中国福州注册成立的有限责任公司。丙方在此确认出质人和质权人在本协议下的权利和义务并提供必要的协助以登记该质权。

 

Pledgor is a Chinese citizen/
a limited partnership registered in China/ a limited company registered in China, with Chinese Identification Card No.: ______________________.
The Pledgor now holds ___% of the equity interest in Party C in record. Party C is a limited liability company registered in Fuzhou, China.
Party C acknowledges the respective rights and obligations of Pledgor and Pledgee under this Agreement, and intends to provide any necessary
assistance in registering the Pledge.

 

		2.	质权人是一家在中国注册的外商独资企业。质权人与出质人、出质人所拥有
的丙方签订了技术咨询与服务协议等一系列旨在形成质权人控制丙方的协议(“控制协议”)。

 

Pledgee is a wholly foreign-owned
enterprise registered in China. Pledgee, Pledgor and Party C owned by Pledgor have executed a Technical Consultation and Service Agreement
and other control agreements (the “Control Agreements”).

 

		3.	为了保证出质人及丙方履行控制协议项下的义务,按照约定向质权人支付咨
询和服务费等到期款项,出质人以其在丙方中拥有的全部股权向质权人就控制协议项下丙方的付款义务做出质押担保。

 

To ensure that Pledgor and Party
C fully perform their obligations under the Control Agreements, and pay the consulting and service fees thereunder to the Pledgee when
the sum becomes due, Pledgor hereby pledges to the Pledgee all of the equity interest he holds in Party C as security for payment of the
consulting and service fees by Party C under the Control Agreements.

 

为了履行控制协议的条款,各方商定按照以下条款签订本协议。

 

To perform the provisions of the
Control Agreements, the Parties have mutually agreed to execute this Agreement upon the following terms.

 

		1.	定义

 

Definitions

 

除非本协议另有规定,下列词语含义为:

 

Unless otherwise provided herein, the terms below shall
have the following meanings:

 

		1.1	质权:指出质人根据本协议第
2 条给予质权人的担保物权,即指质权人
所享有的,以出质人质押给质权人的股权折价或拍卖、变卖该股权的价款优先受偿的权利。

 

Pledge: shall refer to the security
interest granted by Pledgor to Pledgee pursuant to Section 2 of this Agreement, i.e., the right of Pledgee to be compensated on a preferential
basis with the conversion, auction or sales price of the Equity Interest.

 

Equity Pledge Agreement

股权质押协议

 

    2

     

    

 

		1.2	股权:指出质人现在和将来合法持有的其在丙方的全部股权权益。

 

Equity Interest: shall refer
to all of the equity interest lawfully now held and hereafter acquired by Pledgor in Party C.

 

		1.3	质押期限:指本协议第
3 条规定的期间。

 

Term of Pledge: shall refer to
the term set forth in Section 3 of this Agreement.

 

		1.4	控制协议:指丙方与质权人于
2021年 1 月
7 日签订的技术咨询与服务协议以及出质人、丙方于质权人于
2021年 1 月
7日签订的认购期权协议、股东表决权委托协议等一系列控制性协议。

 

Control Agreements: shall refer
to Technical Consultation and Service Agreements executed by and among Party C and the Pledgee on January 7, 2021, and Call Option Agreement,
Voting Rights Proxy Agreement, and other relevant control agreements executed by and among Pledgor, Party C and Pledgee on January 7,
2021.

 

		1.5	违约事件:指本协议第
7 条所列任何情况。

 

Event of Default: shall refer
to any of the circumstances set forth in Section 7 of this Agreement.

 

		1.6	违约通知:指质权人根据本协议发出的宣布违约事件的通知。

 

Notice of Default: shall refer
to the notice issued by Pledgee in accordance with this Agreement declaring an Event of Default.

 

		2.	质权

 

The Pledge

 

作为出质人、丙方完全履行控制协议,以及按时和全额支付控制协议项下质
权人应得的任何或全部的款项,包括但不限于控制协议中规定的咨询和服务
费的担保(无论该等费用的到期应付是由于到期日的到来、提前收款的要求
或其它原因),出质人特此将其现有的丙方的全部股权权益质押给质权人。

 

As collateral security for the
performance of the Control Agreements and the timely and complete payment when due (whether at stated maturity, by acceleration or otherwise)
of any or all of the payments due by Party C and/or Pledgor, including without limitation the consulting and services fees payable to
the Pledgee under the Control Agreements, Pledgor hereby pledges to Pledgee a first security interest in all of Pledgor’s right, title
and interest now owned by Pledgor in the Equity Interest of Party C.

 

Equity Pledge Agreement

股权质押协议

 

    3

     

    

 

		3.	质押期限

 

Term of Pledge

 

		3.1	本质权自本协议项下的股权出质在相应的市场监督管理机关登记之日起生效,质权有效期持续到出质人不再担任丙方的股东或丙方履行所有控制协议项下义务为止。出质人应当将质押在公司股东名册上载明。

 

The Pledge shall become effective
on such date when the pledge of the Equity Interest contemplated herein has been registered with relevant administration for market regulation
(the “AMR”). The Pledge shall be continuously valid until the Pledgor is no longer a shareholder of Party C or the
satisfaction of all its obligations by the Party C under the Control Agreements. The Pledgor shall be responsible for recording of the
Pledge in the Company’s Register of Shareholders.

 

		3.2	质押期限内,如丙方未按控制协议交付咨询服务费等费用,质权人有权但无义务按本协议的规定处分质权。

 

During the Term of Pledge, in
the event Party C fails to pay the exclusive consulting or service fees in accordance with the Control Agreements, Pledgee shall have
the right, but not the obligation, to dispose of the Pledge in accordance with the provisions of this Agreement.

 

		4.	质权凭证的保管

 

Custody of Records for Equity Interest subject to Pledge

 

		4.1	在本协议规定的质押期限内,出质人应将其在丙方的股权出资证明书及
记载质权的股东名册交付质权人保管。出质人应在本协议生效之日起二
十(20)个工作日内将上述股权出资证明书及股东名册交付给质权人。
质权人将在本协议规定的全部质押期间一直保管这些项目。

 

During the Term of Pledge set
forth in this Agreement, Pledgor shall deliver to Pledgee’s custody the capital contribution certificate for the Equity Interest and the
shareholders’ register containing the Pledge within twenty (20) business days after this Agreement takes effect. Pledgee shall have custody
of such items during the entire Term of Pledge set forth in this Agreement.

 

		4.2	在质押期限内,质权人有权收取股权所产生的红利。

 

Pledgee shall have the right to
collect dividends generated by the Equity Interest during the Term of Pledge.

 

Equity Pledge Agreement

股权质押协议

 

    4

     

    

 

		5.	出质人的声明和保证

 

Representations and Warranties of Pledgor

 

		5.1	出质人是股权登记所有人。

 

Pledgor is the owner of the Equity
Interest in record of register of shareholder.

 

		5.2	质权人有权以本协议规定的方式处分并转让股权。

 

Pledgee shall have the right to dispose of and transfer
the Equity Interest in accordance with the provisions set forth in this Agreement.

 

		5.3	除本质权之外,出质人未在股权上设置任何其他质押权利或其他担保权益。

 

Except for the Pledge, Pledgor has not placed any security
interest or other encumbrance on the Equity Interest.

 

		6.	出质人的承诺和确认

 

Covenants and Further Agreements of Pledgor

 

		6.1	在本协议存续期间,出质人向质权人承诺,出质人将:

 

Pledgor hereby covenants to the Pledgee, that during
the term of this Agreement, Pledgor shall:

 

		6.1.1	除履行由出质人与质权人、丙方于本协议签署日签订的《认购期权协议》(“认购期权协议”)外,未经质权人事先书面同意,
不得转让股权,不得在股权上设立或允许存在任何担保或其他债
务负担;

 

not transfer the Equity Interest,
place or permit the existence of any security interest or other encumbrance on the Equity Interest, without the prior written consent
of Pledgee, except for the performance of the Call Option Agreement (the “Call Option Agreement”) executed by Pledgor,
the Pledgee and Party C on the execution date of this Agreement;

 

		6.1.2	遵守并执行所有有关权利质押的法律、法规的规定,在收到有关
主管机关就质权发出或制定的通知、指令或建议时,于五个工作
日内向质权人出示上述通知、指令或建议,同时遵守上述通知、
指令或建议,或按照质权人的合理要求或经质权人同意就上述事
宜提出反对意见和陈述;

 

comply with the provisions of
all laws and regulations applicable to the pledge of rights, and within 5 working days of receipt of any notice, order or recommendation
issued or prepared by relevant competent authorities regarding the Pledge, shall present the aforementioned notice, order or recommendation
to Pledgee, and shall comply with the aforementioned notice, order or recommendation or submit objections and representations with respect
to the aforementioned matters upon Pledgee’s reasonable request or upon consent of Pledgee;

 

Equity Pledge Agreement

股权质押协议

 

    5

     

    

 

		6.1.3	将任何可能导致对出质人股权或其任何部分的权利产生影响的
事件或收到的通知,以及可能改变出质人在本协议中的任何保证、
义务或对出质人履行其在本协议中义务可能产生影响的任何事
件或收到的通知及时通知质权人。

 

promptly notify Pledgee of any
event or notice received by Pledgor that may have an impact on Pledgee’s rights to the Equity Interest or any portion thereof, as well
as any event or notice received by Pledgor that may have an impact on any guarantees and other obligations of Pledgor arising out of this
Agreement.

 

		6.2	出质人同意,质权人按本协议条款取得的对质权享有的权利,不应受到
出质人或出质人的继承人或出质人之委托人或任何其他人通过法律程序的中断或妨害。

 

Pledgor agrees that the rights
acquired by Pledgee in accordance with this Agreement with respect to the Pledge shall not be interrupted or harmed by Pledgor or any
heirs or representatives of Pledgor or any other persons through any legal proceedings.

 

		6.3	出质人向质权人保证,为保护或完善本协议对偿付控制协议项下咨询服
务费等费用的担保,出质人将诚实签署、并促使其他与质权有利害关系
的当事人签署质权人所要求的所有的权利证书、契约和/或履行并促使
其他有利害关系的当事人履行质权人所要求的行为,并为本协议赋予质权人之权利、授权的行使提供便利,与质权人或其指定的人(自然人/法人)签署所有的有关股权所有权的文件,并在合理期间内向质权人提供
其认为需要的所有的有关质权的通知、命令及决定。

 

To protect or perfect the security
interest granted by this Agreement for payment of the consulting and service fees under the Control Agreements, Pledgor hereby undertakes
to execute in good faith and to cause other parties who have an interest in the Pledge to execute all certificates, agreements, deeds
and/or covenants required by Pledgee. Pledgor also undertakes to perform and to cause other parties who have an interest in the Pledge
to perform actions required by Pledgee, to facilitate the exercise by Pledgee of its rights and authority granted thereto by this Agreement,
and to enter into all relevant documents regarding ownership of Equity Interest with Pledgee or designee(s) of Pledgee (natural persons/legal
persons). Pledgor undertakes to provide Pledgee within a reasonable time with all notices, orders and decisions regarding the Pledge that
are required by Pledgee.

 

		6.4	出质人向质权人保证,出质人将遵守、履行本协议项下所有的保证、承
诺、协议、陈述及条件。如出质人不履行或不完全履行其保证、承诺、
协议、陈述及条件,出质人应赔偿质权人由此遭受的一切损失。

 

Pledgor hereby undertakes to
comply with and perform all guarantees, promises, agreements, representations and conditions under this Agreement. In the event of failure
or partial performance of its guarantees, promises, agreements, representations and conditions, Pledgor shall indemnify Pledgee for all
losses resulting therefrom.

 

Equity Pledge Agreement

股权质押协议

 

    6

     

    

 

		6.5	出质人应在本协议生效后二十(20)个工作日内向市场监督管理局办理质押登记手续。

 

The Pledgor shall process the
registration procedures with the Administration for Market Regulation concerning the Pledge within twenty (20) business days after this
Agreement takes effect.

 

		6.6	未经事先书面通知质权人并获得其事先书面同意,出质人不得将股权转
让,出质人的所有拟转让股权的行为无效。出质人转让股权所得价款应
首先用于提前向质权人清偿担保债务或向与质权人约定的第三人提存。

 

Without notifying Pledgee in
advance and obtaining Pledgee’s prior written consent, Pledgor shall not transfer the Equity Interest and any action for the proposed
transfer of the Equity Interest of Pledgor shall be invalid. Any payment received by Pledgor for transfer of the Equity Interest shall
be firstly used to repay the secured obligations to Pledgee or be placed in escrow with a third party as agreed with Pledgee.

 

		6.7	各方同意,除非经甲方事先书面同意,丙方不得出售、处置、质押、抵押、出租、独家许可或其它方式对丙方拥有的任何专利(包括注册专利权和专利申请权)增设权利限制。

 

Parties agree that unless with
Party A’s prior written consent, Party C shall not conduct any sale, transfer, disposal, pledge, mortgage, lease, exclusive license or
otherwise create any restriction on any patent (including any granted patent right or any application for the grant of a patent) owned
by Party C.

 

		7.	违约事件

 

Event of Breach

 

		7.1	下列事项均被视为违约事件:

 

The following circumstances shall be
deemed Event of Default:

 

		7.1.1	丙方未能按期、完整履行控制协议项下任何责任,包括但不限于
丙方未能按期足额支付控制协议项下的应付的咨询服务费等费
用或有违反该协议其他义务的行为;

 

Party C fails to fully and timely
fulfill any liabilities under the Control Agreements, including without limitation failure to pay in full any of the consulting and service
fees payable under the Control Agreements or breaches any other obligations of Party C thereunder;

 

Equity Pledge Agreement

股权质押协议

 

    7

     

    

 

		7.1.2	出质人或丙方实质违反本协议的任何条款;

 

Pledgor or
Party C has committed a material breach of any provisions of this Agreement;

 

		7.1.3	除履行认购期权协议外,出质人舍弃出质的股权或未获得质权人
书面同意而擅自转让或意图转让出质的股权;

 

Except for the performance of
the Call Option Agreement, Pledgor transfers or purports to transfer or abandons the Equity Interest pledged or assigns the Equity Interest
pledged without the written consent of Pledgee;

 

		7.1.4	出质人或丙方的继承人或代管人只能履行部分或拒绝履行控制
协议项下的支付责任;

 

The successor or custodian of the
Pledgor or Party C is capable of only partially performing or refusing to perform the payment obligations under the Control Agreements;

 

		7.1.5	出质人因其所拥有的财产出现不利变化,致使质权人认为出质人
履行本协议项下的义务的能力已受到影响;

 

The occurrence of any adverse
change to the assets or property of the Pledgor, which in Pledgee’s determination, may impact the ability of the Pledgor to perform
its obligations hereunder;

 

		7.1.6	按有关法律规定质权人不能或可能不能行使处分质权的其他情
况。

 

The occurrence of any other circumstances
under which the Pledgee is not or may not able to exercise its rights hereunder in accordance with the applicable law.

 

		7.2	如知道或发现本第7.1
条所述的任何事项或可能导致上述事项的事件
已经发生,出质人应立即以书面形式通知质权人。

 

Upon notice or discovery of the
occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, Pledgor shall immediately
notify Pledgee in writing accordingly.

 

		7.3	除非第
7.1 部分下的违约事件在质权人向出质人发出要求其修正此违
约行为通知后的二十(20)天之内已经按质权人要求获得救济,质权人
在其后的任何时间,可向出质人发出书面违约通知,要求立即依据本协议第
8 条行使质权权利。

 

Unless an Event of Default set
forth in this Section 7.1 has been successfully resolved to Pledgee’s satisfaction within twenty (20) days after the Pledgee delivers
a notice to the Pledgor requesting ratification of such Event of Default, Pledgee may issue a Notice of Default to Pledgor in writing
at any time thereafter, demanding to immediately dispose of the Pledge in accordance with the provisions of Section 8 of this Agreement.

 

Equity Pledge Agreement

股权质押协议

 

    8

     

    

 

		8.	质权的行使

 

Exercise of Pledge

 

		8.1	在控制协议所述的咨询服务费等费用未全部偿付前,未经质权人书面同意,出质人不得转让其拥有的丙方股权。

 

Prior to the full payment of
the consulting and service fees described in the Control Agreements, without the Pledgee’s written consent, Pledgor shall not assign the
Equity Interest in Party C.

 

		8.2	在质权人行使其质押权利时,质权人可以向出质人发出书面通知。

 

Pledgee may issue a written notice
to Pledgor when exercising the Pledge.

 

		8.3	受限于第
7.3 条的规定,质权人可在按第
7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时,
出质人即不再拥有任何与股权有关的权利和利益。

 

Subject to the provisions of
Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance
with Section 7.3. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated
with the Equity Interest.

 

		8.4	在违约时,根据中国有关法律的规定,质权人有权按照法定程序处置质
押股权。在中国法律允许的范围内,对于处置的所得,质权人无需给付出质人;出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利。

 

In the event of default, Pledgee
is entitled to dispose of the Equity Interest in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC
laws, Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives any
rights it may have to demand any such accounting from Pledgee.

 

		8.5	质权人依照本协议处分质权时,出质人和丙方应予以必要的协助,以使质权人实现其质权。

 

When Pledgee disposes of the
Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge
in accordance with this Agreement.

 

Equity Pledge Agreement

股权质押协议

 

    9

     

    

 

		9.	转让

 

Assignment

 

		9.1	除非经质权人事先同意,出质人无权转让其在本协议项下的权利义务。

 

Without Pledgee’s prior written
consent, Pledgor shall not have the right to assign or delegate its rights and obligations under this Agreement.

 

		9.2	本协议对出质人及其继任人和经许可的受让人均有约束力,并且对质权人及每一继任人和受让人有效。

 

This Agreement shall be binding
on Pledgor and its successors and permitted assigns, and shall be valid with respect to Pledgee and each of its successors and assigns.

 

		9.3	质权人可以在任何时候将其在控制协议项下的所有或任何权利和义务转让给其指定的人(自然人/法人),在这种情况下,受让人应享有和承
担本协议项下质权人享有和承担的权利和义务,如同其作为原合同方应
享有和承担的一样。质权人转让控制协议项下的权利和义务时,应质权人要求,出质人应就此转让签署有关协议和/或文件。

 

At any time, Pledgee may assign
any and all of its rights and obligations under the Control Agreements to its designee(s) (natural/legal persons), in which case the assigns
shall have the rights and obligations of Pledgee under this Agreement, as if it were the original party to this Agreement. When the Pledgee
assigns the rights and obligations under the Control Agreements, upon Pledgee’s request, Pledgor shall execute relevant agreements or
other documents relating to such assignment.

 

		9.4	因转让所导致的质权人变更后,应质权人要求,出质人应与新的质权人
签订一份内容与本协议一致的新质押合同,并在相应的市场监督管理机关进行登记。

 

In the event of a change in Pledgee
due to an assignment, Pledgor shall, at the request of Pledgee, execute a new pledge agreement with the new pledgee on the same terms
and conditions as this Agreement, and register the same with the relevant AMR.

 

		9.5	出质人应严格遵守本协议和各方单独或共同签署的其他有关合同的规定,包括认购期权协议和对质权人的授权委托书,履行各合同项下的义务,并不得进行任何足以影响合同的有效性和可强制执行性的作为/不作为行为。除非根据质权人的书面指示,出质人不得行使其对质押股权还留存的权利。

 

Pledgor shall strictly abide
by the provisions of this Agreement and other contracts jointly or separately executed by the Parties hereto or any of them, including
the Call Option Agreement and the Power of Attorney granted to Pledgee, perform the obligations hereunder and thereunder, and refrain
from any action/omission that may affect the effectiveness and enforceability thereof. Any remaining rights of Pledgor with respect to
the Equity Interest pledged hereunder shall not be exercised by Pledgor except in accordance with the written instructions of Pledgee.

 

Equity Pledge Agreement

股权质押协议

 

    10

     

    

 

		10.	终止

 

Termination

 

在控制协议项下的咨询服务费等费用偿还完毕,并且丙方不再承担控制协议项下的任何义务之后,本协议终止,并且在尽早合理可行的时间内,质权人应解除本协议下的股权质押。

 

Upon the full payment of the
consulting and service fees under the Control Agreements and upon termination of Party C’s obligations under the Control Agreements, this
Agreement shall be terminated, and Pledgee shall then terminate the equity pledge under this Agreement as soon as reasonably practicable.

 

		11.	手续费及其他费用

 

Handling Fees and Other Expenses

 

一切与本协议有关的费用及实际开支,其中包括但不限于法律费用、工本费、
印花税以及任何其他税收、费用等全部由丙方承担。

 

All fees and out of pocket expenses
relating to this Agreement, including but not limited to legal costs, costs of production, stamp tax and any other taxes and fees, shall
be borne by Party C.

 

		12.	保密责任

 

Confidentiality

 

各方承认及确定有关本协议、本协议内容,以及彼此就准备或履行本协议而
交换的任何口头或书面资料均被视为保密信息。各方应当对所有该等保密信
息予以保密,而在未得到另一方书面同意前,不得向任何第三者披露任何保
密信息,惟下列信息除外:(a)公众人士知悉或将会知悉的任何信息(惟并
非由接受保密信息之一方擅自向公众披露);(b)根据适用法律法规、股票
交易规则、或政府部门或法院的命令而所需披露之任何信息;或(c)由任何
一方就本协议所述交易而需向其股东、投资者、法律或财务顾问披露之信息,
而该股东、法律或财务顾问亦需遵守与本条款相类似之保密责任。如任何一
方工作人员或聘请机构的泄密均视为该方的泄密,需依本协议承担违约责任。
无论本协议以任何理由终止,本条款仍然生效。

 

The Parties acknowledge that the
existence and the terms of this Agreement and any oral or written information exchanged between the Parties in connection with the preparation
and performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such confidential
information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information
to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s
unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock
exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders,
investors, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, investors,
legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure
of any confidential information by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential information
by such Party, which Party shall be held liable for breach of this Agreement. This Section shall survive the termination of this Agreement
for any reason.

 

Equity Pledge Agreement

股权质押协议

 

    11

     

    

 

		13.	适用法律和争议的解决

 

Governing Law and Resolution of Disputes

 

		13.1	本协议的订立、效力、解释、履行、修改和终止以及争议的解决均适用
中国法律。

 

The execution, effectiveness,
construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by the
laws of China.

 

		13.2	因解释和履行本协议而发生的任何争议,本协议各方应首先通过友好协
商的方式加以解决。如果在一方向其他方发出要求协商解决的书面通知
后 30 天之内争议仍然得不到解决,则任何一方均可将有关争议提交给位于深圳的深圳国际仲裁院,由该会按照其仲裁规则仲裁解决。仲裁应在深圳进行,使用之语言为中文。仲裁裁决是终局性的,对各方均有约束力。

 

In the event of any dispute with
respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations.
In the event the Parties fail to reach an agreement on the dispute within 30 days after either Party’s request to the other Parties for
resolution of the dispute through negotiations, either Party may submit the relevant dispute to the Shenzhen
Court of International Arbitration for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted
in Shenzhen, and the language used in arbitration shall be Chinese. The arbitration award shall be final and binding on all Parties.

 

		13.3	因解释和履行本协议而发生任何争议或任何争议正在进行仲裁时,除争议的事项外,本协议各方仍应继续行使各自在本协议项下的其他权利并履行各自在本协议项下的其他义务。

 

Upon the occurrence of any disputes
arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters
under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their
respective obligations under this Agreement.

 

Equity Pledge Agreement

股权质押协议

 

    12

     

    

 

		14.	通知

 

Notices

 

		14.1	本协议项下要求或发出的所有通知和其他通信应通过专人递送、挂号邮寄、邮资预付或商业快递服务或传真的方式发到该方下列地址。每一通知还应再以电子邮件送达。该等通知视为有效送达的日期按如下方式确定:

 

All notices and other communications
required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid,
by a commercial courier service or by facsimile transmission to the address of such party set forth below. A confirmation copy of each
notice shall also be sent by E-mail. The dates on which notices shall be deemed to have been effectively given shall be determined as
follows:

 

		14.1.1	通知如果是以专人递送、快递服务或挂号邮寄、邮资预付发出的,
则以于设定为通知的地址在签收或拒收之日为有效送达日。

 

Notices given by personal delivery,
by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of acceptance or refusal at the
address specified for notices.

 

		14.1.2	通知如果是以传真发出的,则以成功传送之日为有效送达日(应以自动生成的传送确认信息为证)。

 

Notices given by facsimile transmission
shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).

 

		14.2	为通知的目的,各方地址如下:

 

For the purpose of notices, the addresses of the Parties
are as follows:

 

 

	 	甲方:	福建天裕盛丰物流有限公司

 

		Party A: 	Fujian Tianyu Shengfeng Logistics Co., Ltd.

 

		地址:       	福建省福州高新区乌龙江中大道7#创新园二期17号楼10层1087-2室

 

		Address: 	1087-2 Room, 10th Floor, Building No.17, Phase II of the Creative Park No.7# Wulongjiang Central Avenue, Fuzhou High-tech
District, Fujian, PRC

 

	 	收件人:	刘用旭	 
	 	 	 	 
	 	Attn:	 LIU Yongxu	 
	 	 	 	 
	 	乙方:	[Name of Shareholder]	 
	 	 	 	 
	 	Party B:	[Name of Shareholder]	 

 

Equity Pledge Agreement

股权质押协议

 

    13

     

    

 

		地址:         	_____________________________________________________	

 

		Address: 	_____________________________________________________

 

	 	丙方:	盛丰物流集团有限公司	 
	 	 	 	 
	 	Party C: 	Shengfeng Logistics Group Co., Ltd.	 
	 	 	 	 
	 	地址:	福州市晋安区福新东路478号	 
	 	 	 	 
	 	Address:   	No.478 Fuxin East Road, Jinan District, Fuzhou, PRC	 
	 	 	 	 
	 	收件人:	刘用旭	 
	 	 	 	 
	 	Attn: 	LIU Yongxu	 

 

		14.3	任何一方变更接收通知的地址或联系人的,应按本条规定给其他方发出
通知。

 

If any Party changes its address for notices or its contact
person, a notice shall be delivered to the other Parties in accordance with the terms hereof.

 

		15.	分割性

 

Severability

 

如果本协议有任何一条或多条规定根据任何法律或法规在任何方面被裁定
为无效、不合法或不可执行,本协议其余规定的有效性、合法性或可执行性
不应因此在任何方面受到影响或损害。各方应通过诚意磋商,争取以法律许
可以及各方期望的最大限度内有效的规定取代那些无效、不合法或不可执行
的规定,而该等有效的规定所产生的经济效果应尽可能与那些无效、不合法
或不能强制执行的规定所产生的经济效果相似。

 

In the event that one or several
of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations,
the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect.
The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish
to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall
be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

 

Equity Pledge Agreement

股权质押协议

 

    14

     

    

 

		16.	附件

 

Attachments

 

本协议所列附件,为本协议不可分割的组成部分。

 

The attachments set forth herein shall
be an integral part of this Agreement.

 

		17.	生效

 

Effectiveness

 

		17.1	本协议经各方适当签署时生效。

 

This Agreement shall become effective
after the Parties have duly executed this Agreement.

 

		17.2	本协议的任何修改、补充或变更,均须采用书面形式,经各方签字或盖章并按规定办理政府登记(如需)后生效。

 

Any amendments, changes and supplements
to this Agreement shall be in writing and shall become effective upon completion of the governmental filing procedures (if applicable)
after the affixation of the signatures or seals of the Parties.

 

		17.3	本协议以中文和英文书就,一式三份,质权人、出质人和丙方各持一份,
具有同等效力;中英文版本如有冲突,应以中文版为准。

 

This Agreement is written in Chinese
and English in three copies. Pledgor, Pledgee and Party C shall hold one copy respectively. Each copy of this Agreement shall have equal
validity. In case there is any conflict between the Chinese version and the English version, the Chinese version shall prevail.

 

[以下为签字页]

 

[SIGNATURE PAGE FOLLOWS]

 

Equity Pledge Agreement

股权质押协议

 

    15

     

    

 

有鉴于此,各方已使得经其授权的代表于文首所述日期签署了本股权质押协议,以昭信守。

 

IN WITNESS WHEREOF, the Parties
have caused their authorized representatives to execute this Equity Pledge Agreement as of the date first above written.

 

	甲方:	 福建天裕盛丰物流有限公司	 
	 	 	 
	Party A:	 Fujian Tianyu Shengfeng Logistics Co., Ltd.	 
	 	 	 
	签字:	 	 
	 	 	 
	By:	/s/ Liu Yongxu	 
	 	 	 
	姓名:	刘用旭	 
	 	 	 
	Name:	LIU Yongxu	 
	 	 	 
	职务:
	 法定代表人	 
	 	 	 
	Title:	Legal Representative	 

 

股权质押协议签署页

Signature Pages of Equity Pledge Agreement

 

     

     

    

 

有鉴于此,各方已使得经其授权的代表于文首所述日期签署了本股权质押协议,以昭信守。

 

IN WITNESS WHEREOF, the Parties
have caused their authorized representatives to execute this Equity Pledge Agreement as of the date first above written.

 

	乙方:	[Name of Shareholder]	 
	 	 	 
	Party B: 	[Name of Shareholder]	 
	 	 	 
	签字:	 	 
	 	 	 
	By:		 

 

股权质押协议签署页

Signature Pages of Equity Pledge Agreement

 

     

     

    

 

 有鉴于此,各方已使得经其授权的代表于文首所述日期签署了本股权质押协议,以昭信守。

 

IN WITNESS WHEREOF, the Parties
have caused their authorized representatives to execute this Equity Pledge Agreement as of the date first above written.

 

	丙方:	 盛丰物流集团有限公司	 
	 	 	 
	Party C: 	Shengfeng Logistics Group Co., Ltd.	 
	 	 	 
	签字:	 	 
	 	 	 
	By:	/s/ Liu Yongxu	 
	 	 	 
	姓名:	刘用旭	 
	 	 	 
	Name:	LIU Yongxu	 
	 	 	 
	职务:	法定代表人	 
	 	 	 
	Title:	Legal Representative	 

 

股权质押协议签署页

Signature Pages of Equity Pledge Agreement

 

     

     

    

 

附件:

 

Attachments: 

 

		1.	盛丰物流集团有限公司股东名册

 

Shareholders’ register of Shengfeng Logistics Group Co., Ltd.

 

		2.	盛丰物流集团有限公司的出资证明书

 

The Capital Contribution Certificate for Shengfeng Logistics Group
Co., Ltd.

 

		3.	技术咨询与服务协议

 

Technical Consultation and Service Agreement

 

		4.	认购期权协议

 

Call Option Agreement

 

		5.	股东表决权委托协议

 

Voting Rights Proxy Agreement

 

     

     

    

 

Schedule of Material Differences

 

One or more person signed an equity pledge agreement
under this form. Pursuant to Instruction ii to Item 601 of Regulation S-K, the Registrant may only file this form as an exhibit with a
schedule setting forth the material details in which the executed agreements differ from this form:

 

	No.	 	 	Name of Shareholder
	 	Status	 	ID Card/Unified Social Credit Code	 	 	Percentage (%)	 
	1	 	 	Fujian Yunlian Shengfeng Industry Co., Ltd.	 	Limited Company Registered in China	 	 	[*]	 	 	 	54.58	 
	2	 	 	Yongxu Liu	 	Chinese Citizen	 	 	[*]	 	 	 	30.99	 
	3	 	 	Zhuangyuan Lin	 	Chinese Citizen	 	 	[*]	 	 	 	2.59	 
	4	 	 	Zhongdeng Pan	 	Chinese Citizen	 	 	[*]	 	 	 	2.13	 
	5	 	 	Zhoushan Guancheng Equity Investment Partnership (Limited Partnership)	 	Limited Partnership Registered in China	 	 	[*]	 	 	 	2.00	 
	6	 	 	Zhiping Yang	 	Chinese Citizen	 	 	[*]	 	 	 	1.58	 
	7	 	 	Zhoushan Zhongxin Equity Investment Partnership (Limited Partnership)	 	Limited Partnership Registered in China	 	 	[*]	 	 	 	1.50	 
	8	 	 	Yufan Chen	 	Chinese Citizen	 	 	[*]	 	 	 	1.00	 
	9	 	 	Yelie Song	 	Chinese Citizen	 	 	[*]	 	 	 	0.97	 
	10	 	 	Chaoxin Yang	 	Chinese Citizen	 	 	[*]	 	 	 	0.96	 
	11	 	 	Daqiu Tang	 	Chinese Citizen	 	 	[*]	 	 	 	0.85	 
	12	 	 	Guangsheng Lin	 	Chinese Citizen	 	 	[*]	 	 	 	0.85Exhibit 10.7

 

认购期权协议

 

Call Option Agreement

 

本认购期权协议下称(“本协议”)由下列各方于
2021年1月
7日在中华人民共和国(下称“中国”)福州签订:

 

This Call Option
Agreement (this “Agreement”) has been executed by and among the following parties on January 7, 2021 in Fuzhou, the People’s
Republic of China (“China” or the “PRC”):

 

	甲方:	福建天裕盛丰物流有限公司
	 	 
	地址:	福建省福州高新区乌龙江中大道7#创新园二期17号楼10层1087-2室

 

	Party A:	Fujian Tianyu Shengfeng Logistics Co., Ltd.
	 	 
	Address:	1087-2 Room, 10th Floor, Building No.17, Phase II of the Creative Park No.7# Wulongjiang Central Avenue, Fuzhou High-tech District, Fujian, PRC
	 	 
	乙方:	[NAME OF SHAREHOLDER]
	 	 
	身份证号码:________________________
	 	 
	Party B:	[NAME OF SHAREHOLDER]
	 	 
	Chinese Identification Card No.: _______________________
	 	 
	丙方:	盛丰物流集团有限公司
	 	 
	地址:	福州市晋安区福新东路478号
	 	 
	Party C:	Shengfeng Logistics Group Co., Ltd.

 

	Address:	No.478 Fuxin East Road, Jinan District, Fuzhou, PRC

 

在本协议中,甲方、乙方和丙方以下各称“一方”,合称“各方”。

 

In this Agreement,
each of Party A, Party B and Party C shall be referred to as a “Party” respectively, and they shall be collectively
referred to as the “Parties”.

 

鉴于:乙方持有丙方
_____ %的股权权益。甲方与丙方签订了技术咨询与服务协议、股权质押协议等一系列控制性协议(“控制协议”)。

 

Whereas: Party
B holds _____ % of the equity interest in Party C. Party A and Party C have executed a Technical Consultation and Service Agreement, Equity
Pledge Agreement and other control agreements (the “Control Agreements”).

 

Call Option Agreement

认购期权协议

 

    1

     

    

 

现各方协商一致,达成如下协议:

 

Now therefore,
upon mutual discussion and negotiation, the Parties have reached the following agreement:

  

		1.	股权买卖

 

Sale and Purchase of Equity Interest

 

		1.1	授予权利

 

Option Granted

 

鉴于甲方向乙方支付了人民币1元作为对价,且乙方确认收到并认为该对价足够,乙方在此不可撤销地同意,在中国法律允许的前提下,甲方可以按照自行决定的行使步骤,并按照本协议第1.3条所述的价格,要求乙方履行和完成中国法律要求的一切审批和登记手续,使得甲方可以随时一次或多次从乙方购买,或指定一人或多人(“被指定人”)从乙方购买乙方所持有的丙方的全部或部分股权(“股权购买权”)。甲方的该股权购买权为独家的。除甲方和被指定人外,任何第三人均不得享有股权购买权或其他与乙方股权有关的权利。丙方特此同意乙方向甲方授予股权购买权。本款及本协议所规定的“人”指个人、公司、合营企业、合伙、企业、信托或非公司组织。

 

In consideration of the payment of
RMB 1 by Party A, the receipt and adequacy of which is hereby acknowledged by Party B, Party B hereby irrevocably agrees that, on the
condition that it is permitted by the PRC laws, Party A has the right to require Party B to fulfill and complete all approval and registration
procedures required under PRC laws for Party A to purchase, or designate one or more persons (each, a “Designee”) to
purchase, Party B’s equity interests in Party C, once or at multiple times at any time in part or in whole at Party A’s sole and
absolute discretion and at the price described in Section 1.3 herein (such right being the “Equity Interest Purchase Option”).
Party A’s Equity Interest Purchase Option shall be exclusive. Except for Party A and the Designee(s), no other person shall be entitled
to the Equity Interest Purchase Option or other rights with respect to the equity interests of Party B. Party C hereby agrees to the grant
by Party B of the Equity Interest Purchase Option to Party A. The term “person” as used herein shall refer to individuals, corporations,
partnerships, partners, enterprises, trusts or non- corporate organizations.

 

Call Option Agreement

认购期权协议

 

    2

     

    

 

		1.2	行使步骤

 

Steps for Exercise
of Equity Interest Purchase Option

 

甲方行使其股权购买权以符合中国法律和法规的规定为前提。甲方行
使股权购买权时,应向乙方发出书面通知(“股权购买通知”),股权购买通知应载明以下事项:(a)甲方关于行使股权购买权的决定;(b)甲方拟从乙方购买的股权份额(“被购买股权”);和(c)被购买股权的购买日/转让日。

 

Subject to the provisions of the laws
and regulations of China, Party A may exercise the Equity Interest Purchase Option by issuing a written notice to Party B (the “Equity
Interest Purchase Option Notice”), specifying: (a) Party A’s decision to exercise the Equity Interest Purchase Option; (b) the
portion of equity interests to be purchased from Party B (the “Optioned Interests”); and (c) the date for purchasing
the Optioned Interests and/or the date for transfer of the Optioned Interests.

 

		1.3	股权买价

 

Equity Interest
Purchase Price

 

被购买股权的买价(“基准买价”)应为中国法律所允许的最低价格。如果在甲方行权时中国法律要求评估股权,各方通过诚信原则另行商
定,并在评估基础上对该股权买价进行必要调整,以符合当时适用之任
何中国法律之要求(统称“股权买价”)。如果由于适用法律要求,导致甲方向乙方实际支付的股权买价非为零元,则乙方应当按照甲方的
要求,并以合法的形式将乙方取得的股权买价立即返还给甲方或被指
定人。

 

The purchase price of the Optioned
Interests (the “Base Price”) shall be the lowest price allowed by the laws of China. If appraisal is required by the
laws of China at the time when Party A exercises the Equity Interest Purchase Option, the Parties shall negotiate in good faith and based
on the appraisal result make necessary adjustment to the Equity Interest Purchase Price so that it complies with any and all then applicable
laws of China (collectively, the “Equity Interest Purchase Price”). If the Equity Interest Purchase Price actually paid
by Party A is not nil pursuant to the requirements of applicable laws, Party B shall immediately return to Party A or its Designee the
Equity Interest Purchase Price received by Party B at the instruction of Party A and in compliance with applicable laws.

 

		1.4	转让被购买股权

 

Transfer of Optioned Interests

 

甲方每次行使股权购买权时:

  

For each exercise of the Equity Interest Purchase Option:

 

		1.4.1	乙方应责成丙方及时召开股东会会议,在该会议上,应通过批准
乙方向甲方和/或被指定人转让被购买股权的决议;

 

Party B shall cause Party C to promptly
convene a shareholders’ meeting, at which a resolution shall be adopted approving Party B’s transfer of the Optioned Interests to
Party A and/or the Designee(s);

 

		1.4.2	乙方应就其向甲方和/或被指定人转让被购买股权取得丙方其他
股东同意该转让并放弃优先购买权的书面声明;

 

Party B shall obtain written statements
from the other shareholders of Party C giving consent to the transfer of the equity interest to Party A and/or the Designee(s) and waiving
any right of first refusal related thereto;

 

Call Option Agreement

认购期权协议

 

    3

     

    

 

		1.4.3	乙方应与甲方和/或(在适用的情况下)被指定人按照本协议及
股权购买通知的规定,为每次转让签订股权转让合同;

 

Party B shall execute a share transfer
contract with respect to each transfer with Party A and/or each Designee (whichever is applicable), in accordance with the provisions
of this Agreement and the Equity Interest Purchase Option Notice regarding the Optioned Interests;

 

		1.4.4	有关方应签署所有其他所需合同、协议或文件,取得全部所需的政府批准和同意,并采取所有所需行动,在不附带任何担保权益的情况下,将被购买股权的有效所有权转移给甲方和/或被指定人并使甲方和/或被指定人成为被购买股权的登记在册所有人。为本款及本协议的目的,“担保权益”包括担保、抵押、第三方权利或权益,任何购股权、收购权、优先购买权、抵销权、所有权扣留或其他担保安排等;但为了明确起见,不包括在本协议、乙方股权质押合同项下产生的任何担保权益。本款及本协议所规定的“乙方股权质押合同”指甲方,乙方和丙方于本协议签署之日签订的股权质押协议(下称“乙方股权质押合同”),根据乙方股权质押合同,乙方为担保丙方能履行丙方与甲方签订的控制协议项下的义务,而向甲方质押其在丙方的全部乙方股权。

 

The relevant Parties shall execute
all other necessary contracts, agreements or documents, obtain all necessary government licenses and permits and take all necessary actions
to transfer valid ownership of the Optioned Interests to Party A and/or the Designee(s), unencumbered by any security interests, and cause
Party A and/or the Designee(s) to become the registered owner(s) of the Optioned Interests. For the purpose of this Section and this Agreement,
“security interests” shall include securities, mortgages, third party’s rights or interests, any stock options, acquisition
right, right of first refusal, right to offset, ownership retention or other security arrangements, but shall be deemed to exclude any
security interest created by this Agreement and Party B’s Equity Pledge Agreement. “Party B’s Equity Pledge Agreement” as used
in this Section and this Agreement shall refer to the Equity Pledge Agreement (“Party B’s Equity Pledge Agreement”) executed
by and among Party A, Party B and Party C as of the date hereof, whereby Party B pledges all of its equity interests in Party C to Party
A, in order to guarantee Party C’s performance of its obligations under the Control Agreements executed by and between Party C and Party
A.

 

Call Option Agreement

认购期权协议

 

    4

     

    

 

		2.	承诺

 

Covenants

 

		2.1	有关丙方的承诺

 

Covenants regarding Party C

 

乙方(作为丙方的股东)和丙方在此承诺:

 

Party B (as the shareholders of Party C) and Party C hereby
covenant as follows:

 

		2.1.1	未经甲方的事先书面同意,不以任何形式补充、更改或修改丙方
公司章程文件,增加或减少其注册资本,或以其他方式改变其注
册资本结构;

 

Without the prior written consent of
Party A, they shall not in any manner supplement, change or amend the articles of association and bylaws of Party C, increase or decrease
its registered capital, or change its structure of registered capital in other manners;

 

		2.1.2	按照良好的财务和商业标准及惯例,保持其公司的存续,审慎地
及有效地经营其业务和处理事务;

 

They shall maintain Party C’s corporate
existence in accordance with good financial and business standards and practices by prudently and effectively operating its business and
handling its affairs;

 

		2.1.3	未经甲方的事先书面同意,不在本协议签署之日起的任何时间出售、转让、抵押或以其他方式处置丙方的任何资产、业务或收入的合法或受益权益,或允许在其上设置任何其他担保权益;

 

Without the prior written consent of
Party A, they shall not at any time following the date hereof, sell, transfer, mortgage or dispose of in any manner any assets of Party
C or legal or beneficial interest in the business or revenues of Party C, or allow the encumbrance thereon of any security interest;

 

		2.1.4	未经甲方的事先书面同意,不得让丙方发生、继承、保证或容许
存在任何债务,但(i)正常或日常业务过程中产生而不是通过借
款方式产生的债务;和(ii)已向甲方披露和得到甲方书面同意的
债务除外;

 

Without the prior written consent of
Party A, they shall not cause Party C to incur, inherit, guarantee or suffer the existence of any debt, except for (i) debts incurred
in the ordinary course of business other than through loans; and (ii) debts disclosed to Party A for which Party A’s written consent has
been obtained;

 

Call Option Agreement

认购期权协议

 

    5

     

    

 

		2.1.5	一直在正常业务过程中经营所有业务,以保持丙方的资产价值,
不进行任何足以影响其经营状况和资产价值的作为/不作为;

 

They shall always operate all of Party
C’s businesses during the ordinary course of business to maintain the asset value of Party C and refrain from any action/omission that
may affect Party C’s operating status and asset value;

 

		2.1.6	未经甲方的事先书面同意,不得让丙方签订任何重大合同,但在
正常业务过程中签订的合同除外(就本段而言,如果一份合同的
总金额超过人民币 100,000元,即被视为重大合同);

 

Without the prior written consent of
Party A, they shall not cause Party C to execute any major contract, except the contracts in the ordinary course of business (for purpose
of this subsection, a contract with a price exceeding RMB 100,000 shall be deemed a major contract);

 

		2.1.7	未经甲方的事先书面同意,丙方不得向任何人提供贷款或信贷;

 

Without the prior written consent of
Party A, they shall not cause Party C to provide any person with any loan or credit;

 

		2.1.8	应甲方要求,向其提供所有关于丙方的营运和财务状况的资料;

 

They shall provide Party A with information
on Party C’s business operations and financial condition at Party A’s request;

 

		2.1.9	如甲方提出要求,丙方应从甲方接受的保险公司处购买和持有有关其资产和业务的保险,该保险的金额和险种应与经营类似业务的公司一致;

 

If requested by Party A, they shall
procure and maintain insurance in respect of Party C’s assets and business from an insurance carrier acceptable to Party A, at an amount
and type of coverage typical for companies that operate similar businesses;

 

		2.1.10	未经甲方的事先书面同意,丙方不得与任何人合并或联合,或对
任何人进行收购或投资;

 

Without the prior written consent of
Party A, they shall not cause or permit Party C to merge, consolidate with, acquire or invest in any entity;

 

Call Option Agreement

认购期权协议

 

    6

     

    

 

		2.1.11	将发生的或可能发生的与丙方资产、业务或收入有关的诉讼、仲裁或行政程序立即通知甲方;

 

They shall immediately notify Party
A of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Party C’s assets,
business or revenue;

 

		2.1.12	为保持丙方对其全部资产的所有权,签署所有必要或适当的文件,采取所有必要或适当的行动和提出所有必要或适当的控告或对
所有索偿进行必要和适当的抗辩;

 

To maintain the ownership by Party
C of all of its assets, they shall execute all necessary or appropriate documents, take all necessary or appropriate actions and file
all necessary or appropriate complaints or raise necessary and appropriate defenses against all claims;

 

		2.1.13	未经甲方事先书面同意,不得以任何形式派发股息予各股东,但一经甲方要求,丙方应立即将其所有可分配利润全部立即分配给其各股东;及

 

Without the prior written consent of
Party A, they shall ensure that Party C shall not in any manner distribute dividends to its shareholders, provided that upon Party A’s
written request, Party C shall immediately distribute all distributable profits to its shareholders; and

 

		2.1.14	根据甲方的要求,委任由其指定的任何人士出任丙方的董事;未经甲方事先书面同意,不得更换丙方的董事。

 

At the request of Party A, they shall
appoint any persons designated by Party A as directors of Party C; without the prior written consent of Party A, they shall not replace
the directors of Party C.

 

		2.2	乙方的承诺

 

Covenants of Party B

 

乙方承诺:

 

Party B hereby covenants as follows:

 

		2.2.1	未经甲方的事先书面同意,不出售、转让、抵押或以其他方式处置其拥有的丙方的股权的合法或受益权益,或允许在其上设置任何其他担保权益,但根据乙方股权质押合同在该股权上设置的质押则除外;

 

Without the prior written consent of
Party A, Party B shall not sell, transfer, mortgage or dispose of in any other manner any legal or beneficial interest in the equity interests
in Party C held by Party B, or allow the encumbrance thereon of any security interest, except for the pledge placed on these equity interests
in accordance with Party B’s Equity Pledge Agreement;

 

		2.2.2	促使丙方股东会和/或董事会不批准在未经甲方的事先书面同意
的情况下,出售、转让、抵押或以其他方式处置任何乙方持有之
丙方的股权的合法权益或受益权,或允许在其上设置任何其他担
保权益,但批准根据乙方股权质押合同在乙方股权上设置的质押
则除外;

 

Party B shall cause the shareholders’
meeting and/or the board of directors of Party C not to approve the sale, transfer, mortgage or disposition in any other manner of any
legal or beneficial interest in the equity interests in Party C held by Party B, or allow the encumbrance thereon of any security interest,
without the prior written consent of Party A, except for the pledge placed on these equity interests in accordance with Party B’s Equity
Pledge Agreement;

 

Call Option Agreement

认购期权协议

 

    7

     

    

 

		2.2.3	未经甲方的事先书面同意的情况下,对于丙方与任何人合并或联合,或对任何人进行收购或投资,乙方将促成丙方股东会或董事会不予批准;

 

Party B shall cause the shareholders’
meeting or the board of directors of Party C not to approve the merger or consolidation with any person, or the acquisition of or investment
in any entity, without the prior written consent of Party A;

 

		2.2.4	将发生的或可能发生的任何关于其所拥有的股权的诉讼、仲裁或行政程序立即通知甲方;

 

Party B shall immediately notify Party
A of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to the equity interests
in Party C held by Party B;

 

		2.2.5	促使丙方股东会或董事会表决赞成本协议规定的被购买股权的转让并应甲方之要求采取其他任何行动;

 

Party B shall cause the shareholders’
meeting or the board of directors of Party C to vote their approval of the transfer of the Optioned Interests as set forth in this Agreement
and to take any and all other actions that may be requested by Party A;

 

		2.2.6	为保持其对股权的所有权,签署所有必要或适当的文件,采取所
有必要或适当的行动和提出所有必要或适当的控告或对所有索偿进行必要和适当的抗辩;

 

To the extent necessary to maintain
Party B’s ownership in Party C, Party B shall execute all necessary or appropriate documents, take all necessary or appropriate actions
and file all necessary or appropriate complaints or raise necessary and appropriate defenses against all claims;

 

		2.2.7	应甲方的要求,委任由其指定的任何人士出任丙方的董事和/或
执行董事;未经甲方事先书面同意,不得更换丙方的董事;

 

Party B shall appoint any designee
of Party A as director and/or executive director of Party C, at the request of Party A; without the prior written consent of Party A,
they shall not replace the directors of Party C;

 

	 	2.2.8	应甲方的要求,不时向甲方和/或其指定的个人出具授权委托书,授权甲方和/或其指定的个人行使与丙方有关的股东表决权;

 

Party B shall issue such power of attorney
as Party A may request from time to time, to authorize Party A and/or the individual designated by Party A to exercise Party B’s
voting rights as a shareholder in Party C;

 

	 	2.2.9 	经甲方随时要求,应向其指定的代表在任何时间无条件地根据本
协议的股权购买权立即转让其股权,并放弃其对另一现有股东进行其相应股权转让所享有的优先购买权(如有的话);和

 

At the request of Party A at any time,
Party B shall promptly and unconditionally transfer its equity interests in Party C to Party A’s Designee(s) in accordance with the Equity
Interest Purchase Option under this Agreement, and Party B hereby waives its right of first refusal to the respective share transfer by
the other existing shareholder of Party C (if any); and

 

Call Option Agreement

认购期权协议

 

    8

     

    

 

		2.2.10	严格遵守本协议及乙方、丙方与甲方共同或分别签订的其他合同的各项规定,切实履行该等合同项下的各项义务,并不进行任何足以影响该等合同的有效性和可执行性的作为/不作为。如果乙方对于本协议项下或本协议各方签署的乙方股权质押合同项下或对甲方和/或其指定的个人出具的授权委托书中的股权,还留存有任何权利,除非甲方书面指示,否则乙方仍不得行使该权利。

 

Party B shall strictly abide by the
provisions of this Agreement and other contracts jointly or separately executed by and among Party B, Party C and Party A, perform the
obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness and enforceability thereof.
If Party B retains any additional rights other than those rights provided for under this Agreement, Party B’s Equity Pledge Agreement
and the powers of attorney issued to Party A and/or the individual designated by Party A, Party B shall not exercise such rights without
Party A’s written direction.

 

各方签署了《股东表决权委托协议》,约定乙方不可撤销地委托甲方或甲方
指定的个人行使其在丙方中享有的表决权。各方在此确认,若甲方在行使委
托表决权后致使乙方违反本协议第 2.1、2.2条中的承诺,则不应视为乙方违
反本合同约定。

 

The Parties signed the Voting Rights
Proxy Agreement and agreed that Party B unconditionally entrust Party A or Party A’s designee to vote on its behalf at the shareholders’
meeting of Party C. The Parties hereby confirms that if Party A’s entrustment causes Party C in violation of Covenants in Articles
2.1, 2.2 of this Agreement, Party B shall not be regarded as in breach of this Agreement.

 

		3.	陈述和保证

 

Representations and Warranties

 

乙方和丙方特此在本协议签署之日向甲方共同及分别陈述和保证如下:

 

Party B and Party
C hereby represent and warrant to Party A, jointly and severally, as of the date of this Agreement that:

 

		3.1	其具有签订和交付本协议和其为一方的、根据本协议为每一次转让被
购买股权而签订的任何股权转让合同(各称为“转让合同”),并履行
其在本协议和任何转让合同项下的义务的权力和能力。乙方和丙方同
意在甲方行使购买权时,他们将签署与本协议条款一致的转让合同。本
协议和其是一方的各转让合同一旦签署后,构成或将对其构成合法、有
效及具有约束力的义务并可按照其条款对其强制执行;

 

They have the authority to execute
and deliver this Agreement and any share transfer contracts to which they are parties concerning the Optioned Interests to be transferred
thereunder (each, a “Transfer Contract”), and to perform their obligations under this Agreement and any Transfer Contracts.
Party B and Party C agree to enter into Transfer Contracts consistent with the terms of this Agreement upon Party A’s exercise of
the Equity Interest Purchase Option. This Agreement and the Transfer Contracts to which they are parties constitute or will constitute
their legal, valid and binding obligations and shall be enforceable against them in accordance with the provisions thereof;

 

		3.2	无论是本协议或任何转让合同的签署和交付还是其在本协议或任何转让合同项下的义务的履行均不会:(i)导致违反任何有关的中国法律;(ii)与丙方章程或其他组织文件相抵触;(iii)导致违反其是一方或对其有约束力的任何合同或文件,或构成其是一方或对其有约束力的任何合同或文件项下的违约;(iv)导致违反有关向任何一方颁发的任何许可或批准的授予和(或)继续有效的任何条件;或(v)导致向任何一方颁发的任何许可或批准中止或被撤销或附加条件;

 

The execution and delivery of this
Agreement or any Transfer Contracts and the obligations under this Agreement or any Transfer Contracts shall not: (i) cause any violation
of any applicable laws of China; (ii) be inconsistent with the articles of association, bylaws or other organizational documents of Party
C; (iii) cause the violation of any contracts or instruments to which they are a party or which are binding on them, or constitute any
breach under any contracts or instruments to which they are a party or which are binding on them; (iv) cause any violation of any condition
for the grant and/or continued effectiveness of any licenses or permits issued to either of them; or (v) cause the suspension or revocation
of or imposition of additional conditions to any licenses or permits issued to either of them;

 

Call Option Agreement

认购期权协议

 

    9

     

    

 

		3.3	乙方对其在丙方拥有的股权拥有良好和可出售的所有权,除乙方股权
质押合同外,乙方在上述股权上没有设置任何担保权益;

 

Party B has a good and merchantable
title to the equity interests in Party C he holds. Except for Party B’s Equity Pledge Agreement, Party B has not placed any security interest
on such equity interests;

 

		3.4	丙方对所有资产拥有良好和可出售的所有权,丙方在上述资产上没有设置任何担保权益;

 

Party C has a good and merchantable
title to all of its assets, and has not placed any security interest on the aforementioned assets;

 

		3.5	丙方没有任何未偿还债务,除(i)在其正常的业务过程中发生的债务,
及(ii)已向甲方披露及经甲方书面同意债务除外;

 

Party C does not
have any outstanding debts, except for (i) debt incurred in the ordinary course of business; and (ii) debts disclosed to Party A for which
Party A’s written consent has been obtained.

 

		3.6	丙方遵守适用于股权、资产的收购的所有法律和法规;和

 

Party C has complied with all laws
and regulations of China applicable to equity or asset acquisitions; and

 

		3.7	目前没有悬而未决的或构成威胁的与股权、丙方资产有关的或与丙方有关的诉讼、仲裁或行政程序。

 

There are no pending or threatened
litigation, arbitration or administrative proceedings relating to the equity interests in Party C, assets of Party C or Party C.

 

		4.	生效日

 

Effective Date

 

		4.1	本协议自各方签署之日起生效。

 

This Agreement shall become effective
as of the date of signing by the parties.

 

		4.2	本协议在乙方拥有的全部丙方股权根据本协议的约定依法转让至甲方和/或被指定人名下后终止。

 

This Agreement shall remain effective
until all the equity interest owned by Party B in Party C has been legally transferred to Party A or the Designee(s) in accordance with
this Agreement.

 

Call Option Agreement

认购期权协议

 

    10

     

    

 

		5.	适用法律与争议解决

 

Governing Law and Resolution of Disputes

 

		5.1	适用法律

 

Governing law

 

本协议的订立、效力、解释、履行、修改和终止以及争议解决均适用中国正式公布并可公开得到的法律。对中国正式公布并可公开得到的法
律没有规定的事项,将适用国际法律原则和惯例。

 

The execution,
effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be
governed by the formally published and publicly available laws of China. Matters not covered by formally published and publicly available
laws of China shall be governed by international legal principles and practices.

 

		5.2	争议的解决方法

 

Methods of Resolution of Disputes

 

因解释和履行本协议而发生的任何争议,本协议各方应首先通过友好协
商的方式加以解决,如果在一方向其他方发出要求协商解决的书面通知
后 30 天之内争议仍然得不到解决,则任何一方均可将有关争议提交给位于深圳的深圳国际仲裁院,由该会按照其仲裁规则仲裁解决。仲裁应在深圳进行,使用之语言为中文。仲裁裁决是终局性的,对各方均有约束力。

 

In the event of any dispute with respect
to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the
event the Parties fail to reach an agreement on the dispute within 30 days after either Party’s request to the other Parties for resolution
of the dispute through negotiations, either Party may submit the relevant dispute to the Shenzhen Court
of International Arbitration for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted in Shenzhen,
and the language used in arbitration shall be Chinese. The arbitration award shall be final and binding on all Parties.

 

		6.	税款、费用

 

Taxes and Fees

 

根据中国法律因准备和签署本协议和各转让合同以及完成本协议和各转让合同拟定的交易而由该方发生的或对其征收的任何和全部的转让和注册的税、花费和费用,应由丙方承担。

 

All transfer and
registration tax, expenses and fees incurred thereby or levied thereon in accordance with the laws of China in connection with the preparation
and execution of this Agreement and the Transfer Contracts, as well as the consummation of the transactions contemplated under this Agreement
and the Transfer Contracts shall be borne by Party C.

 

Call Option Agreement

认购期权协议

 

    11

     

    

 

		7.	通知

 

Notices

 

		7.1	本协议项下要求或发出的所有通知和其他通信应通过专人递送、挂号
邮寄、邮资预付或商业快递服务或传真的方式发到该方下列地址。每一
通知还应再以电子邮件送达。该等通知视为有效送达的日期按如下方
式确定:

 

All notices and other communications
required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid,
by a commercial courier service or by facsimile transmission to the address of such Party set forth below. A confirmation copy of each
notice shall also be sent by email. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

 

		7.1.1	通知如果是以专人递送、快递服务或挂号邮寄、邮资预付发出的,
则以于设定为通知的地址在签收或拒收之日为有效送达日。

 

Notices given by personal delivery,
by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of acceptance or refusal at the
address specified for notices.

 

		7.1.2	通知如果是以传真发出的,则以成功传送之日为有效送达日(应
以自动生成的传送确认信息为证)。

 

Notices given by facsimile transmission
shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).

 

		7.2	为通知的目的,各方地址如下:

 

	 	For the purpose of notices, the addresses of the Parties are as follows:
	 	 
	 	甲方:	福建天裕盛丰物流有限公司
	 	 	 
	 	Party A:	Fujian Tianyu Shengfeng Logistics Co., Ltd.
	 	 	 
	 	地址:	福建省福州高新区乌龙江中大道7#创新园二期17号楼10层1087-2室
	 	 	 
	 	Address:	1087-2 Room, 10th Floor, Building No.17, Phase II of the Creative Park No.7# Wulongjiang Central Avenue, Fuzhou High-tech District, Fujian, PRC
	 	 	 
	 	收件人: 	刘用旭
	 	 	 
	 	Attn:	LIU Yongxu
	 	 	 
	 	乙方:	_________
	 	 	 
	 	Party B:	_________
	 	 	 
	 	地址:	________________________________________________
	 	 	 
	 	Address:	_________________________________________________
	 	 	 
	 	丙方:	盛丰物流集团有限公司
	 	 	 
	 	Party C:	Shengfeng Logistics Group Co., Ltd.
	 	 	 
	 	地址:	福州市晋安区福新东路478号
	 	 	 
	 	Address:	No.478 Fuxin East Road, Jinan District, Fuzhou, PRC
	 	 	 
	 	收件人: 	刘用旭
	 	 	 
	 	Attn:	LIU Yongxu

 

Call Option Agreement

认购期权协议

 

    12

     

    

 

		7.3	任何一方变更接收通知的地址或联系人的,应按本条规定给另一方发出通知。

 

If any Party change its address for notices or its contact
person, a notice shall be delivered to the other Party in accordance with the terms hereof.

 

		8.	保密责任

 

Confidentiality

 

各方承认及确定有关本协议、本协议内容,以及彼此就准备或履行本协议而
交换的任何口头或书面资料均被视为保密信息。各方应当对所有该等保密信
息予以保密,而在未得到另一方书面同意前,不得向任何第三者披露任何保
密信息,惟下列信息除外:(a)公众人士知悉或将会知悉的任何信息(惟并非由接受保密信息之一方擅自向公众披露);(b)根据适用法律法规、股票交易规则、或政府部门或法院的命令而所需披露之任何信息;或(c)由任何一方就本协议所述交易而需向其股东、投资者、法律或财务顾问披露之信息,而该股东、法律或财务顾问亦需遵守与本条款相类似之保密责任。如任何一方工作人员或聘请机构的泄密均视为该方的泄密,需依本协议承担违约责任。无论本协议以任何理由终止,本条款仍然生效。

 

The Parties acknowledge
that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in connection with
the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of
all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential
information to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving
Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules
of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its
shareholders, investors, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders,
investors, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section.
Disclosure of any confidential information by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential
information by such Party, which Party shall be held liable for breach of this Agreement. This Section shall survive the termination of
this Agreement for any reason.

 

		9.	进一步保证

 

Further Warranties

 

各方同意迅速签署为执行本协议的各项规定和目的而合理需要的或对其有利的文件,以及为执行本协议的各项规定和目的而采取合理需要的或对其有利的进一步行动。

 

The Parties agree
to promptly execute documents that are reasonably required for or are conducive to the implementation of the provisions and purposes of
this Agreement and take further actions that are reasonably required for or are conducive to the implementation of the provisions and
purposes of this Agreement.

 

Call Option Agreement

认购期权协议

 

    13

     

    

 

		10.	其他

 

Miscellaneous

 

		10.1	修订、修改与补充

 

Amendment, change and supplement

 

对本协议作出修订、修改与补充,必须经每一方签署书面协议。

 

Any amendment, change and supplement
to this Agreement shall require the execution of a written agreement by all of the Parties.

 

		10.2	完整合同

 

Entire agreement

 

除了在本协议签署后所作出的书面修订、补充或修改以外,本协议构
成本协议各方就本协议标的物所达成的完整合同,取代在此之前就本
协议标的物所达成的所有口头或书面的协商、陈述和合同。

 

Except for the amendments, supplements
or changes in writing executed after the execution of this Agreement, this Agreement shall constitute the entire agreement reached by
and among the Parties hereto with respect to the subject matter hereof, and shall supersede all prior oral and written consultations,
representations and contracts reached with respect to the subject matter of this Agreement.

 

		10.3	标题

 

Headings

 

本协议的标题仅为方便阅读而设,不应被用来解释、说明或在其他方
面影响本协议各项规定的含义。

 

The headings of this Agreement are
for convenience only, and shall not be used to interpret, explain or otherwise affect the meanings of the provisions of this Agreement.

 

		10.4	语言

 

Language

 

本协议以中文和英文书就,一式三份,甲乙丙三方各持一份,具有同
等效力;中英文版本如有冲突,应以中文版为准。

 

This Agreement is written in both Chinese
and English language in three copies, each Party having one copy with equal legal validity; in case there is any conflict between the
Chinese version and the English version, the Chinese version shall prevail.

 

Call Option Agreement

认购期权协议

 

    14

     

    

 

		10.5	可分割性

 

Severability

 

如果本协议有任何一条或多条规定根据任何法律或法规在任何方面被裁定为无效、不合法或不可执行,本协议其余规定的有效性、合法
性或可执行性不应因此在任何方面受到影响或损害。各方应通过诚意磋商,争取以法律许可以及各方期望的最大限度内有效的规定取代那些无效、不合法或不可执行的规定,而该等有效的规定所产生的经济效果应尽可能与那些无效、不合法或不能强制执行的规定所产生的经济效果相似。

 

In the event that one or several of
the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations,
the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect.
The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish
to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall
be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

 

		10.6	继任者

 

Successors

 

本协议对各方各自的继任者和各方所允许的受让方应具有约束力并对其有利。

 

This Agreement shall be binding on
and shall inure to the interest of the respective successors of the Parties and the permitted assigns of such Parties.

 

		10.7	弃权

 

Waivers

 

任何一方可以对本协议的条款和条件作出弃权,但必须经书面作出并
经各方签字。一方在某种情况下就其他方的违约所作的弃权不应被视
为该方在其他情况下就类似的违约已经对其他方作出弃权。

 

Any Party may waive the terms and conditions
of this Agreement, provided that such a waiver must be provided in writing and shall require the signatures of the Parties. No waiver
by any Party in certain circumstances with respect to a breach by other Parties shall operate as a waiver by such a Party with respect
to any similar breach in other circumstances.

 

Call Option Agreement

认购期权协议

 

    15

     

    

 

		10.8	继续有效

 

Survival

 

		10.8.1	合同期满或提前终止前因本协议而发生的或到期的任何义务在本协议期满或提前终止后继续有效。

 

Any obligations that occur or that
are due as a result of this Agreement upon the expiration or early termination of this Agreement shall survive the expiration or early
termination thereof.

 

		10.8.2	本协议第
5、7、8
条和本第 10.8 条的规定在本协议终止后继续
有效。

 

The provisions of Sections 5, 7, 8
and this Section 10.8 shall survive the termination of this Agreement.

 

		10.9	补偿

 

Indemnification

 

		10.9.1	各方同意并确认,如一方(以下称“违约方”)实质性地违反本协议项下所作的任何一项约定,或实质性地未履行本协议项下的任何一项义务,即构成本协议项下的违约(以下称“违约”),守约方有权要求违约方在合理期限内补正或采取补救措施。如违约方在合理期限内或在守约方书面通知违约方并提出补正要求后十(10)天内仍未补正或采取补救措施的,则守约方有权自行决定选择以下的任一种违约救济方式:(1)终止本协议,并要求违约方给予全部的损害赔偿;(2)要求强制履行违约方在本协议项下的义务,并要求违约方给予全部的损害赔偿;或者(3)按照乙方股权质押合同的约定以质押股权折价,拍卖或者变卖,并以折价、拍卖或者变卖的价款优先受偿,并要求违约方承担由此造成的全部损失;

 

The Parties agree and confirm that,
if any Party (the “Defaulting Party”) is in material breach of any provisions herein or fails to perform any obligations
hereunder in any material respect, such breach or failure shall constitute a default under this Agreement (the “Default”),
which shall entitle non-defaulting Party to request Defaulting Party to rectify or remedy such Default with a reasonable period of time.
If the Defaulting Party fails to rectify or remedy such Default within the reasonable period of time or within ten (10) days of non-defaulting
Party’s written notice requesting for such rectification or remedy, the non-defaulting Party shall be entitled to elect any one
of the following remedial actions: (a) to terminate this Agreement and request the Defaulting Party to fully compensate its losses and
damages; (b) to request the specific performance by the Defaulting Party of its obligations hereunder and request the Defaulting Party
to fully compensate non-defaulting Party’s losses and damages; or (c) to enforce the pledge under the Party B’s Equity Pledge
Agreement by selling, auctioning or exchanging the pledged equity thereunder and receive payment in priority from the proceeds derived
therefrom, and in the meantime, request the Defaulting Party to fully compensate non-defaulting Party for any losses as a result thereof.

 

		10.9.2	本协议规定的权利和救济是累积的,并不排斥法律规定的其他
权利或者救济;

 

The rights and remedies provided for
in this Agreement shall be accumulative and shall not affect any other rights and remedies stipulated at law.

 

[以下为签字页]

 

[SIGNATURE PAGE FOLLOWS]

 

Call Option Agreement

认购期权协议

 

    16

     

    

 

有鉴于此,各方已使得经其授权的代表于文首所述日期签署了本认购期权协议,以昭信守。

 

IN WITNESS WHEREOF, the Parties
have caused their authorized representatives to execute this Call Option Agreement as of the date first above written.

 

	甲方: 福建天裕盛丰物流有限公司	 
	 	 	 
	Party A:   Fujian Tianyu Shengfeng Logistics Co., Ltd.

 

	签字:	 	 
	 	 	 
	By:	/s/ Liu Yongxu	 
	 	 	 
	姓名:	刘用旭	 
	 	 	 
	Name: 	LIU Yongxu	 
	 	 	 
	职务:	法定代表人	 
	 	 	 
	Title: 	Legal Representative	 

 

Signature Pages of Call Option Agreement

认购期权协议签署页

 

     

     

    

 

有鉴于此,各方已使得经其授权的代表于文首所述日期签署了本认购期权协议,以昭信守。

 

IN WITNESS WHEREOF, the Parties
have caused their authorized representatives to execute this Call Option Agreement as of the date first above written.

 

	乙方: [Name of Shareholder]	 
	 	 
	Party B:   [Name of Shareholder]	 
	 	 
	签字:	                  	 
	 	 	 
	By:		 

 

Signature Pages of Call Option Agreement

认购期权协议签署页

 

     

     

    

 

有鉴于此,各方已使得经其授权的代表于文首所述日期签署了本认购期权协议,以昭信守。

 

IN WITNESS WHEREOF, the Parties
have caused their authorized representatives to execute this Call Option Agreement as of the date first above written.

 

	丙方:   盛丰物流集团有限公司	 
	 	 
	Party C:   Shengfeng Logistics Group Co., Ltd.
	 	 
	签字:	 	 
	 	 	 
	By:	/s/ Liu Yongxu  	 
	 	 	 
	姓名:	刘用旭	 
	 	 	 
	Name:	LIU Yongxu	 
	 	 	 
	职务:	法定代表人	 
	 	 	 
	Title:	Legal Representative	 

 

Signature Pages of Call Option Agreement

认购期权协议签署页

 

     

     

    

 

Schedule of Material Differences

 

One or more person signed a call option agreement
under this form. Pursuant to Instruction ii to Item 601 of Regulation S-K, the Registrant may only file this form as an exhibit with a
schedule setting forth the material details in which the executed agreements differ from this form:

 

	No.	 	Name of Shareholder
	 	Status	 	ID 

Card/Unified Social Credit Code	 	Percentage (%)	 
	1	 	Fujian Yunlian Shengfeng Industry Co., Ltd.	 	Limited Company Registered in China	 	[*]	 	54.58	 
	2	 	Yongxu Liu	 	Chinese Citizen	 	[*]	 	30.99	 
	3	 	Zhuangyuan Lin	 	Chinese Citizen	 	[*]	 	2.59	 
	4	 	Zhongdeng Pan	 	Chinese Citizen	 	[*]	 	2.13	 
	5	 	Zhoushan Guancheng Equity Investment Partnership (Limited Partnership)	 	Limited Partnership Registered in China	 	[*]	 	2.00	 
	6	 	Zhiping Yang	 	Chinese Citizen	 	[*]	 	1.58	 
	7	 	Zhoushan Zhongxin Equity Investment Partnership (Limited Partnership)	 	Limited Partnership Registered in China	 	[*]	 	1.50	 
	8	 	Yufan Chen	 	Chinese Citizen	 	[*]	 	1.00	 
	9	 	Yelie Song	 	Chinese Citizen	 	[*]	 	0.97	 
	10	 	Chaoxin Yang	 	Chinese Citizen	 	[*]	 	0.96	 
	11	 	Daqiu Tang	 	Chinese Citizen	 	[*]	 	0.85	 
	12	 	Guangsheng Lin	 	Chinese Citizen	 	[*]	 	0.85	 

 

Signature Pages of Call Option Agreement

认购期权协议签署页

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]