Document:

YY_Ex4_60

		
			Exhibit 4.60
		

		
			 
		

		
			Exclusive Assets Purchase Agreement
		

		
			 
		

		
			This Exclusive Assets Purchase Agreement (this “Agreement ”), dated July 31, 2019, is made in Guangzhou, the People’s Republic of China (the “ PRC ”), by and between:
		

		
			 
		

		
			A.     Guangzhou Wangxing Information Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at X1301-E6803(JM), Building 1, No. 106 Fengze East Road, Nansha District, Guangzhou, China (the “ WFOE ”);
		

		
			 
		

		
			B.     Chengdu Jiyue Internet Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China (the “ Domestic Company ”); and
		

		
			 
		

		
			C.     Jianqiang Hu, an individual with PRC nationality, ID Card number  * (the “Shareholder ”);
		

		
			 
		

		
			Domestic Company, WFOE and Shareholder shall be hereinafter individually referred to as a “Party”; collectively, the “Parties”.
		

		
			 
		

		
			PREAMBLE
		

		
			 
		

		
			The Domestic Company is a company specified in providing network technology, computer technology development, technical services; software development; electronic products, communication equipment, industrial automation control equipment technology development; technology intermediary services; electronic information technology services; animation design; power technology services; information system integration services; information technology consulting Services; data processing and storage services; sales: recreational equipment and entertainment supplies, cultural supplies (excluding books, newspapers, audiovisual products and electronic publications), electronic products, luggage, trinkets, small gifts (excluding licensed items), electrical equipment, arts and crafts (except ivory and its products), software, textiles and knitwear, clothing, stationery; ticketing agents; human resources agencies services (without relevant administrative permits, no business activities are allowed); organizing artistic exchange activities; literary and artistic creation; radio and television program production (without relevant administrative licenses, no business activities are allowed); value-added telecommunications business operations (without relevant administrative licenses, no business activities are allowed) (collectively, the “ Business ”). The Shareholder holds 99% of the equity interest in the registered capital of the Domestic Company.
		

		
			 
		

		
			The Domestic Company has agreed to grant WFOE an exclusive purchase right (the “ Purchase Right ”) to purchase the assets of the Domestic Company being used or to be used in the operation of its Business (the “ Assets ”), regardless of whether such Assets are the assets currently owned by the Domestic Company, or owned by the Domestic Company by the time WFOE exercise its exclusive Purchase Right. Such assets include all tangible or intangible assets, machines, devices, instrument and components, real estates, intellectual property, technical know-how, client list, seller list, and other articles which is capable to allow WFOE operate the Business in the same way as the Domestic Company, which are particularly suitable and mainly used for the operation of the Business.
		

		
			
		

		
			

		 

		

		
			 
		

		
			NOW, THEREFORE, the Parties agree as follows through negotiations:
		

		
			 
		

		
			1.             DEFINITIONS AND INTERPRETATIONS
		

		
			 
		

		
			1.1           Definitions. Unless otherwise provided, in this Agreement:
		

		
			 
		

		
			Assets has the meaning assigned to it in the Preamble.
		

		
			 
		

		
			Assets Transfer Date has the meaning assigned to it in Section 5.2.
		

		
			 
		

		
			Business has the meaning assigned to it in the Preamble.
		

		
			 
		

		
			Domestic Company’s PoA has the meaning assigned to it in Section 5.2.
		

		
			 
		

		
			China means the People’s Republic of China.
		

		
			 
		

		
			Damages has the meaning assigned to it in Section 9.2.
		

		
			 
		

		
			Designated Person has the meaning assigned to it in Section 2.1.
		

		
			 
		

		
			Dispute has the meaning assigned to it in Section 14.2.
		

		
			 
		

		
			Encumbrance means any mortgage, charge, pledge, lien, assign, hypothecation, security interest, retention of title, option, preemptive right, right of first refusal, constraint, third party right or interest, any type of favorable arrangement (including transfer or retention of title that has similar effect), any type of other security agreement, arrangement, burden of right or dissent, or any agreement that sets forth above burden of right.
		

		
			 
		

		
			Exclusive Option Agreement means the Exclusive Option Agreement entered into on the same day of this Agreement by and between WFOE, Domestic Company and Shareholder, according to which the Domestic Company agrees to grant an exclusive option of purchasing its equity interest to WFOE.
		

		
			 
		

		
			Exercise Notice has the meaning assigned to it in Section 5.1.
		

		
			 
		

		
			Force Majeure Event has the meaning assigned to it in Section 10.1.
		

		
			 
		

		
			Governmental Approval means all license, permit, approval, ratification, consent, waiver or registration required or issued by PRC government authorities.
		

		
			 
		

		
			Purchase Right has the meaning assigned to it in the Preamble.
		

		
			 
		

		
			RMB means Renminbi, the official currency of PRC.
		

		
			
		

		
			

		 

		

		
			 
		

		
			Shareholder’s PoA has the meaning assigned to it in Section 5.1.
		

		
			 
		

		
			Shareholder’s Resolution has the meaning assigned to it in Section 5.2.
		

		
			 
		

		
			Term has the meaning assigned to it in Section 16.3.
		

		
			 
		

		
			1.2          Headings. All headings in this Agreement are for convenience only and shall not affect the interpretation of this Agreement.
		

		
			 
		

		
			1.3          Interpretations. Unless otherwise provided, below words, expressions and references shall have the following meanings:
		

		
			 
		

		
			(a)          When referring to the terms and exhibits of this Agreement, it shall also include such terms and exhibits as amended from time to time.
		

		
			 
		

		
			(b)          When referring to this Agreement or other agreement or document, it shall also include the modifications, remarks or supplements to this Agreement or other agreement or document from time to time.
		

		
			 
		

		
			(c)          When referring to any law or statutory provision, it shall also include any revision, extension, combination or replacement related to such law or provision, and any law or provision that revise, extend, combine or replace the first law or provision, and also include orders, ordinances, instructions or other subordinate legislation promulgated in accordance with relevant law or provisions.
		

		
			 
		

		
			(d)          Singular form shall also include plural form and vice versa.
		

		
			 
		

		
			(e)          Person include individual, proprietorship, partnership, joint venture, company, joint-stock company, unincorporated organization, state and government organs, and its assignee, transferee or successor.
		

		
			 
		

		
			(f)           Include and especially are special terms for description or emphasis purposes only, and shall not limit any provision in any way.
		

		
			 
		

		
			(g)          This Agreement is drafted jointly by the Parties. No narrow interpretation rule shall be applied to any Party.
		

		
			 
		

		
			2.           THE PURCHASE RIGHT
		

		
			 
		

		
			2.1         During the Term of this Agreement, upon written request of WFOE, the Domestic Company hereby irrevocably agrees to sell the Assets to WFOE, or any Person designated by WFOE (the “ Designated Person ”).
		

		
			
		

		
			

		 

		

		
			 
		

		
			2.2          Pursuant to the above Section 2.1, any Person or entity other than WFOE has no right or option to purchase the Assets, and has no current or future right or option to hold such Assets.
		

		
			 
		

		
			2.3         The Shareholder hereby undertakes, accepts and approves to grant such Purchase Right to WFOE.
		

		
			 
		

		
			3.            CONSIDERATION
		

		
			 
		

		
			3.1           If WFOE exercises the Purchase Right and option to purchase the Assets and the equity interest (the “ Equity Interest ”) as provided under the Exclusive Option Agreement (the “ Exclusive Option Agreement ”), the aggregate amount of the purchase price of both the equity interest and the assets shall be RMB100.
		

		
			 
		

		
			4.             NO ASSUMPTION OF LIABILITY
		

		
			 
		

		
			4.1           WFOE shall not assume, perform or be responsible for any obligations or debts, including (i) the obligations or debts owed by the Domestic Company to its creditors or shareholders; (ii) any obligation or debt of the Domestic Company related to any transaction; (iii) tax or other obligations or debts of the Domestic Company arising from the grant of the Purchase Right and the sales of Assets pursuant to this Agreement and the Assets Transfer Agreement annexed hereto as Exhibit 2; or (iv) contingent obligations or debts of the Domestic Company.
		

		
			 
		

		
			5.              EXERCISE OF PURCHASE RIGHT
		

		
			 
		

		
			5.1            Notice of Exercising the Purchase Right. After the execution of this Agreement, WFOE may at any time notify the Domestic Company by written notice (the “Exercise Notice ”) to exercise the Purchase Right. The Exercise Notice shall state clearly (a) the decision of WFOE to exercise the Purchase Right; (b) the list of assets that WFOE decided to purchase from the Domestic Company; (c) the date of the purchase of the Assets.
		

		
			 
		

		
			5.2           Transfer of Assets. The Domestic Company shall, within five (5) business days after WFOE sends the Exercise Notice (the “Assets Transfer Date”), and pursuant to the instructions in such Exercise Notice, transfer the Assets to WFOE or Designated Person. The Domestic Company shall procure WFOE or Designated Person to be the only legal owner of the Assets, without any lien or encumbrances in any form, and shall assist in transferring the title of the Assets to WFOE or Designated Person through below procedures:
		

		
			 
		

		
			(a)          The Domestic Company shall execute an Assets Transfer Agreement (the “Assets Transfer Agreement”) on the same day of the execution of this Agreement. The Assets Transfer Agreement shall (i) be executed in the form and format given in the Exhibit 2 of this Agreement; and (ii) be made in two (2) duplicates. If WFOE nominates a Designated Person as the purchaser, the Parties agree to execute and deliver to WFOE all necessary documents and perform other actions reasonably requested by WFOE to ensure the transfer to such Designated Person.
		

		
			
		

		
			

		 

		

		
			 
		

		
			(b)         The Domestic Company shall execute a Power of Attorney (the “ Domestic Company’s PoA ”) in the form of Exhibit 3 on the same day of the execution of this Agreement, to authorize WFOE (including WFOE and the Designated Person) to fill in the date and relevant information on the aforementioned Assets Transfer Agreement, and to authorize WFOE to keep such document.
		

		
			 
		

		
			(c)         The Domestic Company shall deliver to WOFE (i) bill of sale, endorsement, assign, and other due and adequate documents of assign and transfer which contain complete assurance of title, to grant WFOE or the Designated Person a due, absolute and marketable title of assets, without any lien or Encumbrances; and (ii) all other data in relation to the Assets and its operation.
		

		
			 
		

		
			(d)         When delivering the documents provided in above paragraph (c), the Domestic Company shall also take all measures to ensure the actual possession, operation and control of WFOE or the Designated Person over the Assets, including executing all other necessary agreements or documents, and obtaining all necessary government permits and approvals.
		

		
			 
		

		
			(e)         The Domestic Company shall pay all tax and expenses in relation to the transfer, assign, transmission and delivery of the Assets, including due and payable sales tax, transfer tax, filing fee, usage tax, registration fee, etc.
		

		
			 
		

		
			(f)          After the Assets Transfer Date, upon the request of WFOE or the Designated Person, the Domestic Company shall execute and deliver to WFOE or the Designated Person other documents of assign and transfer, and take other measures as reasonably requested by WFOE or the Designated Person, to facilitate the assign and transfer of the Assets to WFOE or the Designated Person, and ensure the possession by WFOE or the Designated Person of such Assets.
		

		
			 
		

		
			(g)         The Shareholder shall execute a shareholder’s resolution (the “ Shareholder’s Resolution ”) on the same day of the execution of this Agreement, to approve the transfer of the Assets to WFOE. The Shareholder’s Resolution shall (i) be executed in the form and format given in the Exhibit 1 of this Agreement; and (ii) be made in two (2) duplicates. If WFOE nominates a Designated Person as the purchaser, the Parties agree to execute and deliver to WFOE or Designated Person all necessary documents and perform other actions reasonably requested by WFOE or Designated Person to ensure the transfer to such Designated Person.
		

		
			 
		

		
			(h)          The Shareholder shall execute a Power of Attorney on the same day of the execution of this Agreement, to authorize WFOE (including WFOE and the Designated Person) to fill in the date and relevant information on the aforementioned Shareholder’s Resolution, and to authorize WFOE to keep such document.
		

		
			 
		

		
			(i)          The Parties hereto shall execute all other necessary agreements or documents, obtain all necessary government permits and approvals; take all other necessary measures to ensure the effective transfer of the ownership of the Assets to WFOE or Designated Person.
		

		
			
		

		
			

		 

		

		
			 
		

		
			(j)           If all or part of the provisions of this Agreement or its exhibits are judged invalid in accordance with PRC laws or regulations, the Parties shall enter into other valid and effective agreement, resolution or document to achieve the same legal and economic effects as this Agreement.
		

		
			 
		

		
			6.           REPRESENTATIONS AND WARRANTIES
		

		
			 
		

		
			6.1         Reliance Confirmation. The Domestic Company hereby confirms that WFOE entered in to this Agreement entirely relying on the representations and warranties made under this Section 6.
		

		
			 
		

		
			6.2          Representations and Warranties. The Domestic Company represents and warrants to WFOE as follows:
		

		
			 
		

		
			(a)          The Domestic Company is a company legally registered and validly existing in accordance with the PRC laws and is competent and has obtained the relevant powers and authorizations for owning, operating and leasing its assets and properties and engaging in its current business. The Domestic Company has obtained all necessary and appropriate approvals and authorizations require for the execution and performance of this Agreement. The execution, delivery and performance of this Agreement will not (i) conflict with the articles of association, bylaws and other constitutional documents of the Domestic Company; (ii) conflict with any contract or document entered into by, and binding upon, the Transferor and the Domestic Company, or result in any default under such contract or document; (iii) be in contrary to any issuing and/or retaining condition of the licenses or permits issued to the Domestic Company; (iv) result in the revocation, seizure or appendance of additional conditions to any license or permit issued to the Domestic Company; and (v) breach any law of PRC.
		

		
			 
		

		
			(b)         The Domestic Company is competent in executing and performing this Agreement. The Domestic Company has obtained all necessary and appropriate approvals and authorizations require for the execution and performance of this Agreement.
		

		
			 
		

		
			(c)          This Agreement, subject to its terms, constitutes the Domestic Company’s legal, valid and binding obligations, and shall be enforceable against it.
		

		
			 
		

		
			(d)          To the best knowledge of the Domestic Company, and unless the Domestic Company discloses to the other Parties in writing, the Domestic Company is currently not involved in any disputes, litigations, arbitrations, administrative litigations or any other legal proceedings, and the Domestic Company is not constrained by any potential disputes, litigations, arbitrations, administrative litigations or any other legal proceedings;
		

		
			 
		

		
			(e)          Except for debts arising from the ordinary business of the Domestic Company and the debts already disclosed to, and approved in writing by, WFOE, the Domestic Company has no other outstanding debts;
		

		
			
		

		
			

		 

		

		
			 
		

		
			(f)          Except for the exclusive purchase right granted to WFOE under this Agreement, the Domestic Company has not pledge, assign or by any other means dispose its Assets to any third party, unless within its ordinary course of business;
		

		
			 
		

		
			(g)         The Domestic Company is the sole legitimate and registered beneficial owner of the Assets; and
		

		
			 
		

		
			(h)         The Domestic Company has good and marketable title over the Assets with no lien or other security interests, except for the exclusive purchase right granted to WFOE under this Agreement.
		

		
			 
		

		
			6.3         Repeated Application. After the execution of this Agreement, the representations and warranties provided in Section 6.2 of this Agreement shall be continuously valid. Such representations and warranties shall be deemed as true and valid representations and warranties throughout the Term of this Agreement.
		

		
			 
		

		
			7.          AFFIRMATIVE COVENANTS
		

		
			 
		

		
			7.1         During the Term of this Agreement, the Domestic Company irrevocably undertakes as follows:
		

		
			 
		

		
			(a)          It shall prudently and effectively operate the business of the Domestic Company and handle the company’s matters, maintain the existence of the Domestic Company in line with good financial and commercial standard and practice;
		

		
			 
		

		
			(b)          The Domestic Company shall comply with the provisions of this Agreement, and shall not make any action or omission that may affect the existence or enforceability of this Agreement;
		

		
			 
		

		
			(c)          The Domestic Company shall immediately notify WFOE in writing of any litigation, arbitration or administrative proceedings related to the Assets upon such litigation, arbitration or administrative proceedings is initiated or is threatened to be initiated;
		

		
			 
		

		
			(d)          With regard to all claims other than the enforcement of this Agreement, the Domestic Company shall execute all necessary or appropriate documents, file all necessary or appropriate proceedings, make, or authorize WFOE or its Designated Persons upon WFOE’s request to make, all necessary or appropriate defense, and take any and all other necessary appropriate measures, to ensure the ownership of the Domestic Company in the Assets;
		

		
			 
		

		
			(e)          The Domestic Company shall immediately notify WFOE of any event which may possibly affect the entirety or enforceability of the Purchase Right of WFOE, or may possibly affect the obligation or security provided by the Domestic Company under this Agreement;
		

		
			 
		

		
			(f)          The Domestic Company shall not make any action or omission that may affect the operation and assets value of the Domestic Company during the Domestic Company’s ordinary operation of the entire business of the Domestic Company;
		

		
			
		

		
			

		 

		

		
			 
		

		
			(g)          The Domestic Company shall provide relevant documents regarding the operation and financial conditions of the Domestic Company upon WFOE’s request;
		

		
			 
		

		
			(h)          If required by WFOE, the Domestic Company shall purchase and retain insurances for the assets and business of the Domestic Company with the insurance companies qualified by WFOE. The amount and type of insurances shall be consistent with those purchased by the companies of the same class;
		

		
			 
		

		
			(i)          The Domestic Company shall not distribute dividends to shareholders in any way without prior written consent of WFOE. However, upon the request of WFOE, the Domestic Company shall immediately distribute all distributable profit to the shareholders, after which such shareholders shall pay or transfer such distribution to WFOE or companies designated by WFOE unconditionally; and
		

		
			 
		

		
			(j)          In accordance with the request of WFOE and subject to the laws of China, appoint any Person designated by WFOE to be the legal representative, director or senior officers of the Domestic Company.
		

		
			 
		

		
			8.           NEGATIVE COVENANTS
		

		
			 
		

		
			8.1         During the Term of this Agreement, the Domestic Company irrevocably undertakes not to:
		

		
			 
		

		
			(a)          In any way, whether directly or indirectly, sell, contract to sell, transfer, charge or dispose the Assets, or set security interest against such Assets, except for selling or transferring to WFOE or its Designated Person in line with this Agreement;
		

		
			 
		

		
			(b)          Without prior written consent of WFOE, supplement, change or revise of the articles of association and bylaws, increment or decrement of registered capital, or change the share structure, of the Domestic Company in any way;
		

		
			 
		

		
			(c)          Without prior written consent of WFOE, assume, succeed, guarantee or accept any debt, except for (i) debts arising from ordinary or daily operation, which are not in the form of a loan; (ii) debts disclosed to and approved in writing by the Transferee;
		

		
			 
		

		
			(d)          Without prior written consent of WFOE, execute any material contract, except for those executed in the ordinary course of business;
		

		
			 
		

		
			(e)          Without prior written consent of WFOE, extend any loan or facility to any Person, except for those extended in the ordinary course of business;
		

		
			 
		

		
			(f)          Without prior written consent of WFOE, merge with or be acquired by any Person, or acquire or invest in any Person.
		

		
			
		

		
			

		 

		

		
			 
		

		
			8.2         The Domestic Company agrees that the rights obtained by WFOE under this Agreement shall not be interrupted or impaired by any legal proceedings initiated by the Domestic Company, its successors or its representatives.
		

		
			 
		

		
			9.           INDEMNIFICATION
		

		
			 
		

		
			9.1        The Domestic Company hereby agrees to indemnify and hold harmless WFOE from any damage if WFOE incurs any damage due to below matters:
		

		
			 
		

		
			(a)         The Domestic Company makes false representations and warranties under this Agreement;
		

		
			 
		

		
			(b)         The Domestic Company breaches its undertakings under this Agreement; and
		

		
			 
		

		
			(c)         Any obligation or debt of the Domestic Company that becomes or is about to become mature and may affect the Assets, regardless of whether such obligation or debt is aggregated, absolute, contingent or in other form.
		

		
			 
		

		
			9.2        In this Agreement, Damages includes any claim, litigation, order, loss, cost, expense, (joint) liability, fine and damages, including legal fees arising from investigations or avoidance of investigation.
		

		
			 
		

		
			10.        FORCE MAJEURE
		

		
			 
		

		
			10.1      If any Party delays or fails to perform its obligation hereunder due to fire, strike, embargo, government requirement, military action, terrorist assault or terrorist threats, action of God or other exceptional situation that cannot be overcome or avoided by the Parties and cannot be foreseen by the Party alleged to be affected by such force majeure when entering this Agreement (each a “Force Majeure Event”), such Party shall not be liable. If a Force Majeure Event takes place, the Party being affected shall immediately notify the other Party; during the existence of the Force Majeure Event, the Party being affected shall suspend its performance of this Agreement, and the time for performance after the Force Majeure Event is ended for the Party being affected shall be extended accordingly, the period extended shall be equal to the period of the existence of the Force Majeure Event. The Party being affected shall notify the other Party in writing within fifteen (15) days after it becomes aware of such Force Majeure Event, to describe the nature of the Force Majeure Event and the estimated period it may last. Furthermore, the affected Party shall make commercially reasonable endeavor to reduce the impact of such Force Majeure Event.
		

		
			 
		

		
			11.        NOTICE
		

		
			 
		

		
			11.1      All the notices and other communications pursuant to this Agreement shall be delivered to the following address of each Party in person, by registered mail, prepaid post, or commercial courier services, or facsimile. Each notice shall be confirmed with a respective email. Delivery shall be deemed to have occurred:
		

		
			
		

		
			

		 

		

		
			 
		

		
			(a)           Notices given in person, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of receipt, refusal or returned for any reason at the address specified for notices.
		

		
			 
		

		
			(b)           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).
		

		
			 
		

		
			11.2        All the notices and other communications required by or sent pursuant to this Agreement shall be delivered to the following address or facsimile number of relevant Party by telegraph, facsimile or post:
		

		
			 
		

		
			(a)          If send to the Domestic Company:
		

		
			 
		

		
			Address: 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu
		

		
			 Telephone:
		

		
			Attention: Qunhua Ding
		

		
			 
		

		
			(b)         If send to WFOE:
		

		
			 
		

		
			Address: 24/F, Building B-1, North Block of Wanda Plaza, No. 79 Wanbo Er Road, Panyu District, Guangzhou,
		

		
			 Telephone:
		

		
			Attention: Jianqiang Hu
		

		
			 
		

		
			(c)         If send to Jianqiang Hu:
		

		
			 
		

		
			Address: ******
		

		
			 Telephone: ******
		

		
			Attention: ******
		

		
			 
		

		
			12.           TRANSFER AND ASSIGN
		

		
			 
		

		
			12.1         Unless with the prior written consent of WFOE, the Domestic Company has no right to transfer or assign any of its rights and obligations hereunder.
		

		
			 
		

		
			12.2         This Agreement shall be binding upon the Domestic Company and its successors and assigns permitted by WFOE, and is enforceable by WFOE and its successors and assigns.
		

		
			 
		

		
			12.3         If WFOE is restructured for whatever reason, upon the request of WFOE, the Domestic Company shall enter into a new agreement containing the content substantially same to the terms and conditions of this Agreement with the restructured WFOE.
		

		
			
		

		
			

		 

		

		
			 
		

		
			13.           CONFIDENTIALITY
		

		
			 
		

		
			13.1         Each Party recognizes and confirms this Agreement, the content of this Agreement, and any and all oral and written information exchanged among them for the preparation and performance of this Agreement shall be deemed as confidential information. Each Party shall hold in confidence all such confidential information, and without the written consent from the other Parties, should not disclose any confidential information to any third party, provided that, confidential information shall not include information that (a) is or becomes available to the public other than as a result of disclosure by the receiving Party in violation of this Contract, or (b) any information which must be disclosed pursuant to laws and regulations, stock trading rules, or as required by order or decree of governmental authorities or courts; or (c) any information disclosed by either Party to its shareholders, investors, legal or financial advisors in relation to the transactions contemplated herein, who are bound by confidentiality obligation similar to this provision. Any disclosure of confidential information by the professionals or institutions engaged by either Party shall be deemed as the disclosure by such Party, and such Party shall be held liable for breach.
		

		
			 
		

		
			13.2          This Section 13 shall survive the termination of this Agreement and remain in effect for two (2) years of such termination.
		

		
			 
		

		
			14.           GOVERNING LAW AND RESOLUTION OF DISPUTES
		

		
			 
		

		
			14.1          Governing Law. This Agreement, including the validity, rights and obligations of both Parties under this Agreement, shall be governed by and construed in accordance with the laws of China.
		

		
			 
		

		
			14.2          Dispute Resolution. The Parties will firstly attempt in good faith to resolve any and all disputes arising out of or relating to this Agreement, including disputes related to the existence, validity, interpretation or termination (the “Dispute ”), through friendly consultations. If a Dispute is not resolved through friendly consultations within thirty (30) days from the date a Party gives the other Party written notice of the Dispute, then each Party may submit the dispute to Guangzhou Arbitration Commission for arbitration in accordance with then effective arbitration rules. The number of arbitrators shall be one. If the Parties reject the assignment of arbitrator within twenty (20) days after any Party gives the notice of arbitration, Guangzhou Arbitration Commission shall assign another arbitrator. The arbitration shall be conducted in Guangzhou in Chinese. The award of the arbitration tribunal shall be final and binding upon the Parties.
		

		
			 
		

		
			15.           AMENDMENT AND WAIVER
		

		
			 
		

		
			15.1         Amendment. Any amendment to this Agreement shall be made in writing, and only takes effect after the execution by all Parties hereunder. The amendments and supplements duly executed by all the Parties constitute an integral part of this Agreement, and have the same legal effectiveness as this Agreement.
		

		
			 
		

		
			15.2         No Implied Waivers. To protect the rights and interests of WFOE, when necessary, WFOE may exercise the rights under this Agreement at any time, as such rights are in addition to any right 
		

		
			
		

		
			

		 

		

		
			provided by law to WFOE. Unless expressly waived in writing by WFOE, the rights of WFOE shall not be waived. Any delay in exercising its rights by WFOE shall not constitute the waiver of such right.
		

		
			 
		

		
			16.            MISCELLANEOUS PROVISIONS
		

		
			 
		

		
			16.1          Further Assurances. On a legitimate and feasible basis, the Parties hereto agree to use all usable rights or powers and through reasonable endeavor to execute all necessary documents and do all such other things to ensure the completely, timely compliance and performance of the provisions and principles of this Agreement.
		

		
			 
		

		
			16.2          Entire Agreement. This Agreement constitutes the entire agreement reached among the Parties relating to the Option hereof, and supersedes in their entirety all prior written and oral agreements and understandings among the Parties relating to the subject matter hereof. The exhibits are incorporated into this Agreement through reference and constitute an integral part of this Agreement.
		

		
			 
		

		
			16.3          Termination. This Agreement shall enter into its effectiveness upon execution, and remain effective, unless terminated by WFOE at its own discretion by sending a thirty (30) days prior written notice to other Parties (the “Term”).
		

		
			 
		

		
			16.4          Severability and Replacement. If any single or multiple provisions hereof are judged invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected in any aspect. The Parties shall in good faith, endeavor to use valid provisions to the extent allowed by laws and reflecting the intensions of all the Parties, to replace those invalid, illegal or unenforceable provisions, provided that, the economic effects achieved by such valid provisions shall be similar to the economic effects achieved by those invalid, illegal or unenforceable provisions.
		

		
			 
		

		
			16.5          Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any Party whose signature appears thereon, and all of which together shall constitute one and the same instrument. Counterparts delivered through email attachments or facsimile photocopies shall be deemed as effective deliveries.
		

		
			 
		

		
			16.6          Language. This Agreement is executed in the Chinese language.
		

		
			 
		

		
			(The remainder of this page left blank intentionally)
		

		
			 
		

		
			IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the date first above written.
		

		
			 
		

		
			Guangzhou Wangxing Information Technology Co., Ltd.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Signatory:

					
					
						/s/ Jianqiang Hu

				
	
					
						 

					
					
						 

				
	
					
						Name: Jianqiang Hu

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Title: Legal Representative

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Chengdu Jiyue Internet Technology Co., Ltd.

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signatory:

					
					
						/s/ Qunhua Ding

				
	
					
						 

					
					
						 

				
	
					
						Name: Qunhua Ding

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Title: Legal Representative

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Jianqiang Hu

					
					
						 

				
	
					
						/s/ Jianqiang Hu

					
					
						 

				

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 1
		

		
			 
		

		
			CHENGDU JIYUE INTERNET TECHNOLOGY CO., LTD.
		

		
			 
		

		
			SHAREHOLDER’S RESOLUTION
		

		
			 
		

		
			The undersigned, being all shareholder of Chengdu Jiyue Internet Technology Co., Ltd. (a limited liability company duly incorporated under PRC laws, hereinafter referred to as the “Company”) and in accordance with the authorization of the Articles of Association of the Company, hereby unanimously approves below resolutions:
		

		
			 
		

		
			IT IS RESOLVED that the Company is hereby authorized to enter into the Assets Transfer Agreement dated ____ ____, 20__ by and between the Company and WFOE and to perform all obligations thereunder; and
		

		
			 
		

		
			IT IS FURTHER RESOLVED that ________ is hereby authorized to execute all documents needed for applying for the government approval on the execution and performance of the Assets Transfer Agreement. In addition, such authorized person is authorized to do anything he considers appropriate and necessary, at his own discretion, for the intent and purpose of implementing this resolution.
		

		
			 
		

		
			IN WITNESS WHEREOF, the signatory signed above resolutions on the ___day of ___, 20__.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Jianqiang Hu

					
					
						 

				

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Qunhua Ding

					
					
						 

				

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 2
		

		
			 
		

		
			Assets Transfer Agreement
		

		
			 
		

		
			This Assets Transfer Agreement (this “Agreement”) is made on the ___ day of ___, 20__, by and between:
		

		
			 
		

		
			A.     Chengdu Jiyue Internet Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China (the “ Seller ”) ; and
		

		
			 
		

		
			B.     Guangzhou Wangxing Information Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at X1301-E6803(JM), Building 1, No. 106 Fengze East Road, Nansha District, Guangzhou, China (the “ Purchaser ”) .
		

		
			 
		

		
			Seller and Purchaser shall be hereinafter individually referred to as a “Party”; collectively, the “Parties”.
		

		
			 
		

		
			PREAMBLE
		

		
			 
		

		
			(A)         The Seller is a company specified in providing network technology, computer technology development, technical services; software development; electronic products, communication equipment, industrial automation control equipment technology development; technology intermediary services; electronic information technology services; animation design; power technology services; information system integration services; information technology consulting Services; data processing and storage services; sales: recreational equipment and entertainment supplies, cultural supplies (excluding books, newspapers, audiovisual products and electronic publications), electronic products, luggage, trinkets, small gifts (excluding licensed items), electrical equipment, arts and crafts (except ivory and its products), software, textiles and knitwear, clothing, stationery; ticketing agents; human resources agencies services (without relevant administrative permits, no business activities are allowed); organizing artistic exchange activities; literary and artistic creation; radio and television program production (without relevant administrative licenses, no business activities are allowed); value-added telecommunications business operations (without relevant administrative licenses, no business activities are allowed) (collectively, the “ Business ”).
		

		
			 
		

		
			(B)         The Seller has agreed to sell the assets of the Seller being used or to be used in the operation of its Business (the “ Assets ”), regardless of whether such Assets are the assets currently owned by the Seller, or owned by the Seller by the time the Purchaser exercise its exclusive Purchase Right. Such assets include all tangible or intangible assets, machines, devices, instrument and components, real estates, intellectual property, technical know-how, client list, seller list, and other articles which is capable to allow WFOE operate the Business in the same way as the Domestic Company, which are particularly suitable and mainly used for the operation of the Business; the Purchaser agrees to purchase the same.
		

		
			
		

		
			

		 

		

		
			 
		

		
			NOW, THEREFORE, the Parties agree as follows through negotiations:
		

		
			 
		

		
			1.            TRANSFER OF ASSETS
		

		
			 
		

		
			The Seller hereby agrees to sell all Assets and all related rights, title and interests in such Assets (as listed in Exhibit 1) without any encumbrances pursuant to the terms and conditions of this Agreement and the Exclusive Assets Purchase Agreement entered into by and between the Seller and Purchaser date ___ ___, 20__. The Purchaser hereby agrees to accept such transfer.
		

		
			 
		

		
			2.            TRANSFER PRICE
		

		
			 
		

		
			The Purchaser shall pay to the Seller or its representative the transfer price in an amount of RMB ________ (the “Transfer Price”).
		

		
			 
		

		
			3.            EXCLUSION OF LIABILITY
		

		
			 
		

		
			For the avoidance of doubt, the Purchaser shall not bear any liability in relation to below circumstances:
		

		
			 
		

		
			(a)          Assets existing at or before the closing of the transfer, including any undue or payable amount of the Seller in acquiring any of the Assets;
		

		
			 
		

		
			(b)          Any liability of default, negligence, breach of duty or other liability owed to third party due to the action, omission, negligence or default of the Seller and its employee, agent or representative; or
		

		
			 
		

		
			(c)          Any fee and expenses in relation to the Assets payable by the Seller.
		

		
			 
		

		
			4.           LIABILITY OF DEFAULT
		

		
			 
		

		
			Any Party shall be liable for all direct and indirect damages or losses arising from its breach of obligations under this Agreement.
		

		
			 
		

		
			5.          TRANSFER OF THE AGREEMENT
		

		
			 
		

		
			(a)         Unless with the prior written consent of the Purchaser, the Seller has no right to transfer or assign any of its rights and obligations hereunder.
		

		
			 
		

		
			(b)        This Agreement shall be binding upon the Seller and its successors and assigns permitted by Purchaser, and is enforceable by Purchaser and its successors and assigns.
		

		
			
		

		
			

		 

		

		
			 
		

		
			(c)        If the Purchaser is restructured for whatever reason, upon the request of the Purchaser, the Seller shall enter into a new agreement containing the content substantially same to the terms and conditions of this Agreement with the restructured Purchaser.
		

		
			 
		

		
			6.          EFFECTIVENESS
		

		
			 
		

		
			This Agreement shall enter into its effectiveness upon execution.
		

		
			 
		

		
			7.          GOVERNING LAW
		

		
			 
		

		
			This Agreement, including its validity, rights and obligations of the Parties hereunder, shall be governed by and construed in accordance with the laws of the PRC.
		

		
			 
		

		
			8.          DISPUTE RESOLUTION
		

		
			 
		

		
			The Parties will firstly attempt in good faith to resolve any and all disputes arising out of or relating to this Agreement, including disputes related to the existence, validity, interpretation or termination (the “ Dispute ”), through friendly consultations. If a Dispute is not resolved through friendly consultations within thirty (30) days from the date a Party gives the other Party written notice of the Dispute, then each Party may submit the dispute to Guangzhou Arbitration Commission for arbitration in accordance with then effective arbitration rules. The number of arbitration shall be one. If the Parties reject the assignment of arbitrator within twenty (20) days after any Party gives the notice of arbitration, Guangzhou Arbitration Commission shall assign another arbitrator. The arbitration shall be conducted in Guangzhou in Chinese. The award of the arbitration tribunal shall be final and binding upon the Parties.
		

		
			 
		

		
			9.          LANGUAGE
		

		
			 
		

		
			This Agreement is executed in the Chinese language.
		

		
			 
		

		
			10.      MISCELLANEOUS PROVISIONS
		

		
			 
		

		
			Being reasonably requested by the Purchaser, the Seller agrees to execute and deliver other documents and take other measures to perform its obligations as the Seller under this Agreement, and perfect all transfer procedures and requirements.
		

		
			 
		

		
			This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any Party whose signature appears thereon, and all of which together shall constitute one and the same instrument. Counterparts delivered through email attachments or facsimile photocopies shall be deemed as effective deliveries.
		

		
			 
		

		
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			IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the date first above written.
		

		
			 
		

		
			SELLER: Chengdu Jiyue Internet Technology Co., Ltd.
		

		
			 
		

		
			Signatory:
		

		
			 
		

		
			Name: Qunhua Ding
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			PURCHASER: Guangzhou Baiguoyuan Information Technology Co., Ltd.
		

		
			 
		

		
			Signatory:
		

		
			 
		

		
			Name: Jianqiang Hu
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 3
		

		
			 
		

		
			Power of Attorney
		

		
			 
		

		
			WHEREAS:
		

		
			 
		

		
			Chengdu Jiyue Internet Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China (the “ Domestic Company ”), Jianqiang Hu, an individual with PRC nationality, ID Card number * (the “ Transferor ”), and Guangzhou Wangxing Information Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at X1301-E6803(JM), Building 1, No. 106 Fengze East Road, Nansha District, Guangzhou, China (the “ WFOE ”) have entered into an Exclusive Assets Purchase Agreement on [  ], 2019 (the “ Exclusive Assets Purchase Agreement ”).
		

		
			 
		

		
			THEREFORE:
		

		
			 
		

		
			The Domestic Company hereby irrevocably authorizes WFOE (including WFOE and its Designated Person) to fill in the date and relevant information in the Assets Transfer Agreement under the Exclusive Assets Purchase Agreement, and authorizes WFOE to retain such document.
		

		
			 
		

		
			The Shareholder hereby irrevocably authorized WFOE (including WFOE and its Designated Person) to fill in the date and relevant information in the Shareholder’s Resolution under the Exclusive Assets Purchase Agreement, and authorizes WFOE to retain such document.
		

		
			 
		

		
			This Power of Attorney shall become continuously effective from ___ ___, 20__ and shall not be revoked.
		

		
			 
		

		
			(The remainder of this page left blank intentionally)
		

		
			 
		

		
			 
		

		
			This page being the execution page of the Power of Attorney.
		

		
			 
		

		
			DOMESTIC COMPANY: Chengdu Jiyue Internet Technology Co., Ltd.
		

		
			 
		

		
			Signatory:
		

		
			 
		

		
			Name: Qunhua Ding
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			 
		

			
					
						SHAREHOLDER: Jianqiang Hu

					
					
						 

				
	
					
						 

					
					
						 

				

		
			 
		

		
			(Signature)
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			Exclusive Assets Purchase Agreement
		

		
			 
		

		
			This Exclusive Assets Purchase Agreement (this “Agreement ”), dated July 31, 2019, is made in Guangzhou, the People’s Republic of China (the “ PRC ”), by and between:
		

		
			 
		

		
			A.     Guangzhou Wangxing Information Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at X1301-E6803(JM), Building 1, No. 106 Fengze East Road, Nansha District, Guangzhou, China (the “ WFOE ”);
		

		
			 
		

		
			B.     Chengdu Jiyue Internet Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China (the “ Domestic Company ”); and
		

		
			 
		

		
			C.     Qunhua Ding, an individual with PRC nationality, ID Card number  * (the “Shareholder ”);
		

		
			 
		

		
			Domestic Company, WFOE and Shareholder shall be hereinafter individually referred to as a “Party”; collectively, the “Parties”.
		

		
			 
		

		
			PREAMBLE
		

		
			 
		

		
			The Domestic Company is a company specified in providing network technology, computer technology development, technical services; software development; electronic products, communication equipment, industrial automation control equipment technology development; technology intermediary services; electronic information technology services; animation design; power technology services; information system integration services; information technology consulting Services; data processing and storage services; sales: recreational equipment and entertainment supplies, cultural supplies (excluding books, newspapers, audiovisual products and electronic publications), electronic products, luggage, trinkets, small gifts (excluding licensed items), electrical equipment, arts and crafts (except ivory and its products), software, textiles and knitwear, clothing, stationery; ticketing agents; human resources agencies services (without relevant administrative permits, no business activities are allowed); organizing artistic exchange activities; literary and artistic creation; radio and television program production (without relevant administrative licenses, no business activities are allowed); value-added telecommunications business operations (without relevant administrative licenses, no business activities are allowed) (collectively, the “ Business ”). The Shareholder holds 1% of the equity interest in the registered capital of the Domestic Company.
		

		
			 
		

		
			The Domestic Company has agreed to grant WFOE an exclusive purchase right (the “ Purchase Right ”) to purchase the assets of the Domestic Company being used or to be used in the operation of its Business (the “ Assets ”), regardless of whether such Assets are the assets currently owned by the Domestic Company, or owned by the Domestic Company by the time WFOE exercise its exclusive Purchase Right. Such assets include all tangible or intangible assets, machines, devices, instrument and components, real estates, intellectual property, technical know-how, client list, seller list, and other articles which is capable to allow WFOE operate the Business in the same way as the Domestic Company, which are particularly suitable and mainly used for the operation of the Business.
		

		
			
		

		
			

		 

		

		
			 
		

		
			NOW, THEREFORE, the Parties agree as follows through negotiations:
		

		
			 
		

		
			1.            DEFINITIONS AND INTERPRETATIONS
		

		
			 
		

		
			1.1          Definitions. Unless otherwise provided, in this Agreement:
		

		
			 
		

		
			Assets has the meaning assigned to it in the Preamble.
		

		
			 
		

		
			Assets Transfer Date has the meaning assigned to it in Section 5.2.
		

		
			 
		

		
			Business has the meaning assigned to it in the Preamble.
		

		
			 
		

		
			Domestic Company’s PoA has the meaning assigned to it in Section 5.2.
		

		
			 
		

		
			China means the People’s Republic of China.
		

		
			 
		

		
			Damages has the meaning assigned to it in Section 9.2.
		

		
			 
		

		
			Designated Person has the meaning assigned to it in Section 2.1.
		

		
			 
		

		
			Dispute has the meaning assigned to it in Section 14.2.
		

		
			 
		

		
			Encumbrance means any mortgage, charge, pledge, lien, assign, hypothecation, security interest, retention of title, option, preemptive right, right of first refusal, constraint, third party right or interest, any type of favorable arrangement (including transfer or retention of title that has similar effect), any type of other security agreement, arrangement, burden of right or dissent, or any agreement that sets forth above burden of right.
		

		
			 
		

		
			Exclusive Option Agreement means the Exclusive Option Agreement entered into on the same day of this Agreement by and between WFOE, Domestic Company and Shareholder, according to which the Domestic Company agrees to grant an exclusive option of purchasing its equity interest to WFOE.
		

		
			 
		

		
			Exercise Notice has the meaning assigned to it in Section 5.1.
		

		
			 
		

		
			Force Majeure Event has the meaning assigned to it in Section 10.1.
		

		
			 
		

		
			Governmental Approval means all license, permit, approval, ratification, consent, waiver or registration required or issued by PRC government authorities.
		

		
			 
		

		
			Purchase Right has the meaning assigned to it in the Preamble.
		

		
			 
		

		
			RMB means Renminbi, the official currency of PRC.
		

		
			 
		

		
			
		

		
			

		 

		

		
			Shareholder’s PoA has the meaning assigned to it in Section 5.1.
		

		
			 
		

		
			Shareholder’s Resolution has the meaning assigned to it in Section 5.2.
		

		
			 
		

		
			Term has the meaning assigned to it in Section 16.3.
		

		
			 
		

		
			1.2          Headings. All headings in this Agreement are for convenience only and shall not affect the interpretation of this Agreement.
		

		
			 
		

		
			1.3          Interpretations. Unless otherwise provided, below words, expressions and references shall have the following meanings:
		

		
			 
		

		
			(a)          When referring to the terms and exhibits of this Agreement, it shall also include such terms and exhibits as amended from time to time.
		

		
			 
		

		
			(b)         When referring to this Agreement or other agreement or document, it shall also include the modifications, remarks or supplements to this Agreement or other agreement or document from time to time.
		

		
			 
		

		
			(c)          When referring to any law or statutory provision, it shall also include any revision, extension, combination or replacement related to such law or provision, and any law or provision that revise, extend, combine or replace the first law or provision, and also include orders, ordinances, instructions or other subordinate legislation promulgated in accordance with relevant law or provisions.
		

		
			 
		

		
			(d)          Singular form shall also include plural form and vice versa.
		

		
			 
		

		
			(e)          Person include individual, proprietorship, partnership, joint venture, company, joint-stock company, unincorporated organization, state and government organs, and its assignee, transferee or successor.
		

		
			 
		

		
			(f)          Include and especially are special terms for description or emphasis purposes only, and shall not limit any provision in any way.
		

		
			 
		

		
			(g)         This Agreement is drafted jointly by the Parties. No narrow interpretation rule shall be applied to any Party.
		

		
			 
		

		
			2.          THE PURCHASE RIGHT
		

		
			 
		

		
			2.1         During the Term of this Agreement, upon written request of WFOE, the Domestic Company hereby irrevocably agrees to sell the Assets to WFOE, or any Person designated by WFOE (the “ Designated Person ”).
		

		
			
		

		
			

		 

		

		
			 
		

		
			2.2         Pursuant to the above Section 2.1, any Person or entity other than WFOE has no right or option to purchase the Assets, and has no current or future right or option to hold such Assets.
		

		
			 
		

		
			2.3        The Shareholder hereby undertakes, accepts and approves to grant such Purchase Right to WFOE.
		

		
			 
		

		
			3.          CONSIDERATION
		

		
			 
		

		
			3.1        If WFOE exercises the Purchase Right and option to purchase the Assets and the equity interest (the “ Equity Interest ”) as provided under the Exclusive Option Agreement (the “ Exclusive Option Agreement ”), the aggregate amount of the purchase price of both the equity interest and the assets shall be RMB100.
		

		
			 
		

		
			4.         NO ASSUMPTION OF LIABILITY
		

		
			 
		

		
			4.1      WFOE shall not assume, perform or be responsible for any obligations or debts, including (i) the obligations or debts owed by the Domestic Company to its creditors or shareholders; (ii) any obligation or debt of the Domestic Company related to any transaction; (iii) tax or other obligations or debts of the Domestic Company arising from the grant of the Purchase Right and the sales of Assets pursuant to this Agreement and the Assets Transfer Agreement annexed hereto as Exhibit 2; or (iv) contingent obligations or debts of the Domestic Company.
		

		
			 
		

		
			5.         EXERCISE OF PURCHASE RIGHT
		

		
			 
		

		
			5.1       Notice of Exercising the Purchase Right. After the execution of this Agreement, WFOE may at any time notify the Domestic Company by written notice (the “Exercise Notice ”) to exercise the Purchase Right. The Exercise Notice shall state clearly (a) the decision of WFOE to exercise the Purchase Right; (b) the list of assets that WFOE decided to purchase from the Domestic Company; (c) the date of the purchase of the Assets.
		

		
			 
		

		
			5.2       Transfer of Assets. The Domestic Company shall, within five (5) business days after WFOE sends the Exercise Notice (the “Assets Transfer Date”), and pursuant to the instructions in such Exercise Notice, transfer the Assets to WFOE or Designated Person. The Domestic Company shall procure WFOE or Designated Person to be the only legal owner of the Assets, without any lien or encumbrances in any form, and shall assist in transferring the title of the Assets to WFOE or Designated Person through below procedures:
		

		
			 
		

		
			(a)          The Domestic Company shall execute an Assets Transfer Agreement (the “Assets Transfer Agreement”) on the same day of the execution of this Agreement. The Assets Transfer Agreement shall (i) be executed in the form and format given in the Exhibit 2 of this Agreement; and (ii) be made in two (2) duplicates. If WFOE nominates a Designated Person as the purchaser, the Parties agree to execute and deliver to WFOE all necessary documents and perform other actions reasonably requested by WFOE to ensure the transfer to such Designated Person.
		

		
			
		

		
			

		 

		

		
			 
		

		
			(b)          The Domestic Company shall execute a Power of Attorney (the “ Domestic Company’s PoA ”) in the form of Exhibit 3 on the same day of the execution of this Agreement, to authorize WFOE (including WFOE and the Designated Person) to fill in the date and relevant information on the aforementioned Assets Transfer Agreement, and to authorize WFOE to keep such document.
		

		
			 
		

		
			(c)          The Domestic Company shall deliver to WOFE (i) bill of sale, endorsement, assign, and other due and adequate documents of assign and transfer which contain complete assurance of title, to grant WFOE or the Designated Person a due, absolute and marketable title of assets, without any lien or Encumbrances; and (ii) all other data in relation to the Assets and its operation.
		

		
			 
		

		
			(d)          When delivering the documents provided in above paragraph (c), the Domestic Company shall also take all measures to ensure the actual possession, operation and control of WFOE or the Designated Person over the Assets, including executing all other necessary agreements or documents, and obtaining all necessary government permits and approvals.
		

		
			 
		

		
			(e)          The Domestic Company shall pay all tax and expenses in relation to the transfer, assign, transmission and delivery of the Assets, including due and payable sales tax, transfer tax, filing fee, usage tax, registration fee, etc.
		

		
			 
		

		
			(f)          After the Assets Transfer Date, upon the request of WFOE or the Designated Person, the Domestic Company shall execute and deliver to WFOE or the Designated Person other documents of assign and transfer, and take other measures as reasonably requested by WFOE or the Designated Person, to facilitate the assign and transfer of the Assets to WFOE or the Designated Person, and ensure the possession by WFOE or the Designated Person of such Assets.
		

		
			 
		

		
			(g)          The Shareholder shall execute a shareholder’s resolution (the “ Shareholder’s Resolution ”) on the same day of the execution of this Agreement, to approve the transfer of the Assets to WFOE. The Shareholder’s Resolution shall (i) be executed in the form and format given in the Exhibit 1 of this Agreement; and (ii) be made in two (2) duplicates. If WFOE nominates a Designated Person as the purchaser, the Parties agree to execute and deliver to WFOE or Designated Person all necessary documents and perform other actions reasonably requested by WFOE or Designated Person to ensure the transfer to such Designated Person.
		

		
			 
		

		
			(h)          The Shareholder shall execute a Power of Attorney on the same day of the execution of this Agreement, to authorize WFOE (including WFOE and the Designated Person) to fill in the date and relevant information on the aforementioned Shareholder’s Resolution, and to authorize WFOE to keep such document.
		

		
			 
		

		
			(i)          The Parties hereto shall execute all other necessary agreements or documents, obtain all necessary government permits and approvals; take all other necessary measures to ensure the effective transfer of the ownership of the Assets to WFOE or Designated Person.
		

		
			
		

		
			

		 

		

		
			 
		

		
			(j)          If all or part of the provisions of this Agreement or its exhibits are judged invalid in accordance with PRC laws or regulations, the Parties shall enter into other valid and effective agreement, resolution or document to achieve the same legal and economic effects as this Agreement.
		

		
			 
		

		
			6.           REPRESENTATIONS AND WARRANTIES
		

		
			 
		

		
			6.1         Reliance Confirmation. The Domestic Company hereby confirms that WFOE entered in to this Agreement entirely relying on the representations and warranties made under this Section 6.
		

		
			 
		

		
			6.2         Representations and Warranties. The Domestic Company represents and warrants to WFOE as follows:
		

		
			 
		

		
			(a)          The Domestic Company is a company legally registered and validly existing in accordance with the PRC laws and is competent and has obtained the relevant powers and authorizations for owning, operating and leasing its assets and properties and engaging in its current business. The Domestic Company has obtained all necessary and appropriate approvals and authorizations require for the execution and performance of this Agreement. The execution, delivery and performance of this Agreement will not (i) conflict with the articles of association, bylaws and other constitutional documents of the Domestic Company; (ii) conflict with any contract or document entered into by, and binding upon, the Transferor and the Domestic Company, or result in any default under such contract or document; (iii) be in contrary to any issuing and/or retaining condition of the licenses or permits issued to the Domestic Company; (iv) result in the revocation, seizure or appendance of additional conditions to any license or permit issued to the Domestic Company; and (v) breach any law of PRC.
		

		
			 
		

		
			(b)          The Domestic Company is competent in executing and performing this Agreement. The Domestic Company has obtained all necessary and appropriate approvals and authorizations require for the execution and performance of this Agreement.
		

		
			 
		

		
			(c)          This Agreement, subject to its terms, constitutes the Domestic Company’s legal, valid and binding obligations, and shall be enforceable against it.
		

		
			 
		

		
			(d)          To the best knowledge of the Domestic Company, and unless the Domestic Company discloses to the other Parties in writing, the Domestic Company is currently not involved in any disputes, litigations, arbitrations, administrative litigations or any other legal proceedings, and the Domestic Company is not constrained by any potential disputes, litigations, arbitrations, administrative litigations or any other legal proceedings;
		

		
			 
		

		
			(e)          Except for debts arising from the ordinary business of the Domestic Company and the debts already disclosed to, and approved in writing by, WFOE, the Domestic Company has no other outstanding debts;
		

		
			
		

		
			

		 

		

		
			 
		

		
			(f)          Except for the exclusive purchase right granted to WFOE under this Agreement, the Domestic Company has not pledge, assign or by any other means dispose its Assets to any third party, unless within its ordinary course of business;
		

		
			 
		

		
			(g)         The Domestic Company is the sole legitimate and registered beneficial owner of the Assets; and
		

		
			 
		

		
			(h)         The Domestic Company has good and marketable title over the Assets with no lien or other security interests, except for the exclusive purchase right granted to WFOE under this Agreement.
		

		
			 
		

		
			6.3         Repeated Application. After the execution of this Agreement, the representations and warranties provided in Section 6.2 of this Agreement shall be continuously valid. Such representations and warranties shall be deemed as true and valid representations and warranties throughout the Term of this Agreement.
		

		
			 
		

		
			7.           AFFIRMATIVE COVENANTS
		

		
			 
		

		
			7.1         During the Term of this Agreement, the Domestic Company irrevocably undertakes as follows:
		

		
			 
		

		
			(a)          It shall prudently and effectively operate the business of the Domestic Company and handle the company’s matters, maintain the existence of the Domestic Company in line with good financial and commercial standard and practice;
		

		
			 
		

		
			(b)          The Domestic Company shall comply with the provisions of this Agreement, and shall not make any action or omission that may affect the existence or enforceability of this Agreement;
		

		
			 
		

		
			(c)          The Domestic Company shall immediately notify WFOE in writing of any litigation, arbitration or administrative proceedings related to the Assets upon such litigation, arbitration or administrative proceedings is initiated or is threatened to be initiated;
		

		
			 
		

		
			(d)          With regard to all claims other than the enforcement of this Agreement, the Domestic Company shall execute all necessary or appropriate documents, file all necessary or appropriate proceedings, make, or authorize WFOE or its Designated Persons upon WFOE’s request to make, all necessary or appropriate defense, and take any and all other necessary appropriate measures, to ensure the ownership of the Domestic Company in the Assets;
		

		
			 
		

		
			(e)          The Domestic Company shall immediately notify WFOE of any event which may possibly affect the entirety or enforceability of the Purchase Right of WFOE, or may possibly affect the obligation or security provided by the Domestic Company under this Agreement;
		

		
			 
		

		
			(f)          The Domestic Company shall not make any action or omission that may affect the operation and assets value of the Domestic Company during the Domestic Company’s ordinary operation of the entire business of the Domestic Company;
		

		
			
		

		
			

		 

		

		
			 
		

		
			(g)          The Domestic Company shall provide relevant documents regarding the operation and financial conditions of the Domestic Company upon WFOE’s request;
		

		
			 
		

		
			(h)          If required by WFOE, the Domestic Company shall purchase and retain insurances for the assets and business of the Domestic Company with the insurance companies qualified by WFOE. The amount and type of insurances shall be consistent with those purchased by the companies of the same class;
		

		
			 
		

		
			(i)          The Domestic Company shall not distribute dividends to shareholders in any way without prior written consent of WFOE. However, upon the request of WFOE, the Domestic Company shall immediately distribute all distributable profit to the shareholders, after which such shareholders shall pay or transfer such distribution to WFOE or companies designated by WFOE unconditionally; and
		

		
			 
		

		
			(j)          In accordance with the request of WFOE and subject to the laws of China, appoint any Person designated by WFOE to be the legal representative, director or senior officers of the Domestic Company.
		

		
			 
		

		
			8.           NEGATIVE COVENANTS
		

		
			 
		

		
			8.1         During the Term of this Agreement, the Domestic Company irrevocably undertakes not to:
		

		
			 
		

		
			(a)          In any way, whether directly or indirectly, sell, contract to sell, transfer, charge or dispose the Assets, or set security interest against such Assets, except for selling or transferring to WFOE or its Designated Person in line with this Agreement;
		

		
			 
		

		
			(b)          Without prior written consent of WFOE, supplement, change or revise of the articles of association and bylaws, increment or decrement of registered capital, or change the share structure, of the Domestic Company in any way;
		

		
			 
		

		
			(c)          Without prior written consent of WFOE, assume, succeed, guarantee or accept any debt, except for (i) debts arising from ordinary or daily operation, which are not in the form of a loan; (ii) debts disclosed to and approved in writing by the Transferee;
		

		
			 
		

		
			(d)          Without prior written consent of WFOE, execute any material contract, except for those executed in the ordinary course of business;
		

		
			 
		

		
			(e)          Without prior written consent of WFOE, extend any loan or facility to any Person, except for those extended in the ordinary course of business;
		

		
			 
		

		
			(f)          Without prior written consent of WFOE, merge with or be acquired by any Person, or acquire or invest in any Person.
		

		
			
		

		
			

		 

		

		
			 
		

		
			8.2         The Domestic Company agrees that the rights obtained by WFOE under this Agreement shall not be interrupted or impaired by any legal proceedings initiated by the Domestic Company, its successors or its representatives.
		

		
			 
		

		
			9.           INDEMNIFICATION
		

		
			 
		

		
			9.1         The Domestic Company hereby agrees to indemnify and hold harmless WFOE from any damage if WFOE incurs any damage due to below matters:
		

		
			 
		

		
			(a)          The Domestic Company makes false representations and warranties under this Agreement;
		

		
			 
		

		
			(b)          The Domestic Company breaches its undertakings under this Agreement; and
		

		
			 
		

		
			(c)          Any obligation or debt of the Domestic Company that becomes or is about to become mature and may affect the Assets, regardless of whether such obligation or debt is aggregated, absolute, contingent or in other form.
		

		
			 
		

		
			9.2          In this Agreement, Damages includes any claim, litigation, order, loss, cost, expense, (joint) liability, fine and damages, including legal fees arising from investigations or avoidance of investigation.
		

		
			 
		

		
			10.         FORCE MAJEURE
		

		
			 
		

		
			10.1       If any Party delays or fails to perform its obligation hereunder due to fire, strike, embargo, government requirement, military action, terrorist assault or terrorist threats, action of God or other exceptional situation that cannot be overcome or avoided by the Parties and cannot be foreseen by the Party alleged to be affected by such force majeure when entering this Agreement (each a “Force Majeure Event”), such Party shall not be liable. If a Force Majeure Event takes place, the Party being affected shall immediately notify the other Party; during the existence of the Force Majeure Event, the Party being affected shall suspend its performance of this Agreement, and the time for performance after the Force Majeure Event is ended for the Party being affected shall be extended accordingly, the period extended shall be equal to the period of the existence of the Force Majeure Event. The Party being affected shall notify the other Party in writing within fifteen (15) days after it becomes aware of such Force Majeure Event, to describe the nature of the Force Majeure Event and the estimated period it may last. Furthermore, the affected Party shall make commercially reasonable endeavor to reduce the impact of such Force Majeure Event.
		

		
			 
		

		
			11.       NOTICE
		

		
			 
		

		
			11.1     All the notices and other communications pursuant to this Agreement shall be delivered to the following address of each Party in person, by registered mail, prepaid post, or commercial courier services, or facsimile. Each notice shall be confirmed with a respective email. Delivery shall be deemed to have occurred:
		

		
			
		

		
			

		 

		

		
			 
		

		
			(a)           Notices given in person, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of receipt, refusal or returned for any reason at the address specified for notices.
		

		
			 
		

		
			(b)           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).
		

		
			 
		

		
			11.2        All the notices and other communications required by or sent pursuant to this Agreement shall be delivered to the following address or facsimile number of relevant Party by telegraph, facsimile or post:
		

		
			 
		

		
			(a)          If send to the Domestic Company:
		

		
			 
		

		
			Address: 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu
		

		
			 Telephone:
		

		
			Attention: Qunhua Ding
		

		
			 
		

		
			(b)          If send to WFOE:
		

		
			 
		

		
			Address: 24/F, Building B-1, North Block of Wanda Plaza, No. 79 Wanbo Er Road, Panyu District, Guangzhou,
		

		
			 Telephone:
		

		
			Attention: Jianqiang Hu
		

		
			 
		

		
			(c)          If send to Qunhua Ding:
		

		
			 
		

		
			Address: ******
		

		
			 Telephone:
		

		
			Attention: ******
		

		
			 
		

		
			12.        TRANSFER AND ASSIGN
		

		
			 
		

		
			12.1      Unless with the prior written consent of WFOE, the Domestic Company has no right to transfer or assign any of its rights and obligations hereunder.
		

		
			 
		

		
			12.2      This Agreement shall be binding upon the Domestic Company and its successors and assigns permitted by WFOE, and is enforceable by WFOE and its successors and assigns.
		

		
			 
		

		
			12.3      If WFOE is restructured for whatever reason, upon the request of WFOE, the Domestic Company shall enter into a new agreement containing the content substantially same to the terms and conditions of this Agreement with the restructured WFOE.
		

		
			 
		

		
			13.        CONFIDENTIALITY
		

		
			
		

		
			

		 

		

		
			 
		

		
			13.1         Each Party recognizes and confirms this Agreement, the content of this Agreement, and any and all oral and written information exchanged among them for the preparation and performance of this Agreement shall be deemed as confidential information. Each Party shall hold in confidence all such confidential information, and without the written consent from the other Parties, should not disclose any confidential information to any third party, provided that, confidential information shall not include information that (a) is or becomes available to the public other than as a result of disclosure by the receiving Party in violation of this Contract, or (b) any information which must be disclosed pursuant to laws and regulations, stock trading rules, or as required by order or decree of governmental authorities or courts; or (c) any information disclosed by either Party to its shareholders, investors, legal or financial advisors in relation to the transactions contemplated herein, who are bound by confidentiality obligation similar to this provision. Any disclosure of confidential information by the professionals or institutions engaged by either Party shall be deemed as the disclosure by such Party, and such Party shall be held liable for breach.
		

		
			 
		

		
			13.2         This Section 13 shall survive the termination of this Agreement and remain in effect for two (2) years of such termination.
		

		
			 
		

		
			14.          GOVERNING LAW AND RESOLUTION OF DISPUTES
		

		
			 
		

		
			14.1         Governing Law. This Agreement, including the validity, rights and obligations of both Parties under this Agreement, shall be governed by and construed in accordance with the laws of China.
		

		
			 
		

		
			14.2         Dispute Resolution. The Parties will firstly attempt in good faith to resolve any and all disputes arising out of or relating to this Agreement, including disputes related to the existence, validity, interpretation or termination (the “Dispute ”), through friendly consultations. If a Dispute is not resolved through friendly consultations within thirty (30) days from the date a Party gives the other Party written notice of the Dispute, then each Party may submit the dispute to Guangzhou Arbitration Commission for arbitration in accordance with then effective arbitration rules. The number of arbitrators shall be one. If the Parties reject the assignment of arbitrator within twenty (20) days after any Party gives the notice of arbitration, Guangzhou Arbitration Commission shall assign another arbitrator. The arbitration shall be conducted in Guangzhou in Chinese. The award of the arbitration tribunal shall be final and binding upon the Parties.
		

		
			 
		

		
			15.          AMENDMENT AND WAIVER
		

		
			 
		

		
			15.1       Amendment. Any amendment to this Agreement shall be made in writing, and only takes effect after the execution by all Parties hereunder. The amendments and supplements duly executed by all the Parties constitute an integral part of this Agreement, and have the same legal effectiveness as this Agreement.
		

		
			 
		

		
			15.2       No Implied Waivers. To protect the rights and interests of WFOE, when necessary, WFOE may exercise the rights under this Agreement at any time, as such rights are in addition to any right 
		

		
			
		

		
			

		 

		

		
			 
		

		
			provided by law to WFOE. Unless expressly waived in writing by WFOE, the rights of WFOE shall not be waived. Any delay in exercising its rights by WFOE shall not constitute the waiver of such right.
		

		
			 
		

		
			16.         MISCELLANEOUS PROVISIONS
		

		
			 
		

		
			16.1       Further Assurances. On a legitimate and feasible basis, the Parties hereto agree to use all usable rights or powers and through reasonable endeavor to execute all necessary documents and do all such other things to ensure the completely, timely compliance and performance of the provisions and principles of this Agreement.
		

		
			 
		

		
			16.2       Entire Agreement. This Agreement constitutes the entire agreement reached among the Parties relating to the Option hereof, and supersedes in their entirety all prior written and oral agreements and understandings among the Parties relating to the subject matter hereof. The exhibits are incorporated into this Agreement through reference and constitute an integral part of this Agreement.
		

		
			 
		

		
			16.3       Termination. This Agreement shall enter into its effectiveness upon execution, and remain effective, unless terminated by WFOE at its own discretion by sending a thirty (30) days prior written notice to other Parties (the “Term”).
		

		
			 
		

		
			16.4       Severability and Replacement. If any single or multiple provisions hereof are judged invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected in any aspect. The Parties shall in good faith, endeavor to use valid provisions to the extent allowed by laws and reflecting the intensions of all the Parties, to replace those invalid, illegal or unenforceable provisions, provided that, the economic effects achieved by such valid provisions shall be similar to the economic effects achieved by those invalid, illegal or unenforceable provisions.
		

		
			 
		

		
			16.5       Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any Party whose signature appears thereon, and all of which together shall constitute one and the same instrument. Counterparts delivered through email attachments or facsimile photocopies shall be deemed as effective deliveries.
		

		
			 
		

		
			16.6       Language. This Agreement is executed in the Chinese language.
		

		
			 
		

		
			(The remainder of this page left blank intentionally)
		

		
			 
		

		
			 
		

		
			IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the date first above written.
		

		
			 
		

		
			Guangzhou Wangxing Information Technology Co., Ltd.
		

		
			
		

		
			

		 

		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Signatory:

					
					
						/s/ Jianqiang Hu

				
	
					
						 

					
					
						 

				
	
					
						Name: Jianqiang Hu

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Title: Legal Representative

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Chengdu Jiyue Internet Technology Co., Ltd.

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signatory:

					
					
						/s/ Qunhua Ding

				
	
					
						 

					
					
						 

				
	
					
						Name: Qunhua Ding

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Title: Legal Representative

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Qunhua Ding

					
					
						 

				
	
					
						/s/ Qunhua Ding

					
					
						 

				

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 1
		

		
			 
		

		
			CHENGDU JIYUE INTERNET TECHNOLOGY CO., LTD.
		

		
			 
		

		
			SHAREHOLDER’S RESOLUTION
		

		
			 
		

		
			The undersigned, being all shareholder of Chengdu Jiyue Internet Technology Co., Ltd. (a limited liability company duly incorporated under PRC laws, hereinafter referred to as the “Company”) and in accordance with the authorization of the Articles of Association of the Company, hereby unanimously approves below resolutions:
		

		
			 
		

		
			IT IS RESOLVED that the Company is hereby authorized to enter into the Assets Transfer Agreement dated ____ ____, 20__ by and between the Company and WFOE and to perform all obligations thereunder; and
		

		
			 
		

		
			IT IS FURTHER RESOLVED that ________ is hereby authorized to execute all documents needed for applying for the government approval on the execution and performance of the Assets Transfer Agreement. In addition, such authorized person is authorized to do anything he considers appropriate and necessary, at his own discretion, for the intent and purpose of implementing this resolution.
		

		
			 
		

		
			IN WITNESS WHEREOF, the signatory signed above resolutions on the ___day of ___, 20__.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Jianqiang Hu

					
					
						 

				

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Qunhua Ding

					
					
						 

				

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 2
		

		
			 
		

		
			Assets Transfer Agreement
		

		
			 
		

		
			This Assets Transfer Agreement (this “Agreement”) is made on the ___ day of ___, 20__, by and between:
		

		
			 
		

		
			A.     Chengdu Jiyue Internet Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China (the “ Seller ”) ; and
		

		
			 
		

		
			B.     Guangzhou Wangxing Information Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at X1301-E6803(JM), Building 1, No. 106 Fengze East Road, Nansha District, Guangzhou, China (the “ Purchaser ”) .
		

		
			 
		

		
			Seller and Purchaser shall be hereinafter individually referred to as a “Party”; collectively, the “Parties”.
		

		
			 
		

		
			PREAMBLE
		

		
			 
		

		
			(A)         The Seller is a company specified in providing network technology, computer technology development, technical services; software development; electronic products, communication equipment, industrial automation control equipment technology development; technology intermediary services; electronic information technology services; animation design; power technology services; information system integration services; information technology consulting Services; data processing and storage services; sales: recreational equipment and entertainment supplies, cultural supplies (excluding books, newspapers, audiovisual products and electronic publications), electronic products, luggage, trinkets, small gifts (excluding licensed items), electrical equipment, arts and crafts (except ivory and its products), software, textiles and knitwear, clothing, stationery; ticketing agents; human resources agencies services (without relevant administrative permits, no business activities are allowed); organizing artistic exchange activities; literary and artistic creation; radio and television program production (without relevant administrative licenses, no business activities are allowed); value-added telecommunications business operations (without relevant administrative licenses, no business activities are allowed) (collectively, the “ Business ”).
		

		
			 
		

		
			(B)         The Seller has agreed to sell the assets of the Seller being used or to be used in the operation of its Business (the “ Assets ”), regardless of whether such Assets are the assets currently owned by the Seller, or owned by the Seller by the time the Purchaser exercise its exclusive Purchase Right. Such assets include all tangible or intangible assets, machines, devices, instrument and components, real estates, intellectual property, technical know-how, client list, seller list, and other articles which is capable to allow WFOE operate the Business in the same way as the Domestic Company, which are particularly suitable and mainly used for the operation of the Business; the Purchaser agrees to purchase the same.
		

		
			
		

		
			

		 

		

		
			 
		

		
			NOW, THEREFORE, the Parties agree as follows through negotiations:
		

		
			 
		

		
			1.           TRANSFER OF ASSETS
		

		
			 
		

		
			The Seller hereby agrees to sell all Assets and all related rights, title and interests in such Assets (as listed in Exhibit 1) without any encumbrances pursuant to the terms and conditions of this Agreement and the Exclusive Assets Purchase Agreement entered into by and between the Seller and Purchaser date ___ ___, 20__. The Purchaser hereby agrees to accept such transfer.
		

		
			 
		

		
			2.           TRANSFER PRICE
		

		
			 
		

		
			The Purchaser shall pay to the Seller or its representative the transfer price in an amount of RMB ________ (the “Transfer Price”).
		

		
			 
		

		
			3.           EXCLUSION OF LIABILITY
		

		
			 
		

		
			For the avoidance of doubt, the Purchaser shall not bear any liability in relation to below circumstances:
		

		
			 
		

		
			(a)          Assets existing at or before the closing of the transfer, including any undue or payable amount of the Seller in acquiring any of the Assets;
		

		
			 
		

		
			(b)          Any liability of default, negligence, breach of duty or other liability owed to third party due to the action, omission, negligence or default of the Seller and its employee, agent or representative; or
		

		
			 
		

		
			(c)          Any fee and expenses in relation to the Assets payable by the Seller.
		

		
			 
		

		
			4.           LIABILITY OF DEFAULT
		

		
			 
		

		
			Any Party shall be liable for all direct and indirect damages or losses arising from its breach of obligations under this Agreement.
		

		
			 
		

		
			5.           TRANSFER OF THE AGREEMENT
		

		
			 
		

		
			(a)         Unless with the prior written consent of the Purchaser, the Seller has no right to transfer or assign any of its rights and obligations hereunder.
		

		
			 
		

		
			(b)        This Agreement shall be binding upon the Seller and its successors and assigns permitted by Purchaser, and is enforceable by Purchaser and its successors and assigns.
		

		
			
		

		
			

		 

		

		
			 
		

		
			(c)        If the Purchaser is restructured for whatever reason, upon the request of the Purchaser, the Seller shall enter into a new agreement containing the content substantially same to the terms and conditions of this Agreement with the restructured Purchaser.
		

		
			 
		

		
			6.           EFFECTIVENESS
		

		
			 
		

		
			This Agreement shall enter into its effectiveness upon execution.
		

		
			 
		

		
			7.           GOVERNING LAW
		

		
			 
		

		
			This Agreement, including its validity, rights and obligations of the Parties hereunder, shall be governed by and construed in accordance with the laws of the PRC.
		

		
			 
		

		
			8.           DISPUTE RESOLUTION
		

		
			 
		

		
			The Parties will firstly attempt in good faith to resolve any and all disputes arising out of or relating to this Agreement, including disputes related to the existence, validity, interpretation or termination (the “ Dispute ”), through friendly consultations. If a Dispute is not resolved through friendly consultations within thirty (30) days from the date a Party gives the other Party written notice of the Dispute, then each Party may submit the dispute to Guangzhou Arbitration Commission for arbitration in accordance with then effective arbitration rules. The number of arbitration shall be one. If the Parties reject the assignment of arbitrator within twenty (20) days after any Party gives the notice of arbitration, Guangzhou Arbitration Commission shall assign another arbitrator. The arbitration shall be conducted in Guangzhou in Chinese. The award of the arbitration tribunal shall be final and binding upon the Parties.
		

		
			 
		

		
			9.           LANGUAGE
		

		
			 
		

		
			This Agreement is executed in the Chinese language.
		

		
			 
		

		
			10.        MISCELLANEOUS PROVISIONS
		

		
			 
		

		
			Being reasonably requested by the Purchaser, the Seller agrees to execute and deliver other documents and take other measures to perform its obligations as the Seller under this Agreement, and perfect all transfer procedures and requirements.
		

		
			 
		

		
			This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any Party whose signature appears thereon, and all of which together shall constitute one and the same instrument. Counterparts delivered through email attachments or facsimile photocopies shall be deemed as effective deliveries.
		

		
			 
		

		
			(The remainder of this page left blank intentionally)
		

		
			
		

		
			

		 

		

		
			 
		

		
			IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the date first above written.
		

		
			 
		

		
			SELLER: Chengdu Jiyue Internet Technology Co., Ltd.
		

		
			 
		

		
			Signatory:
		

		
			 
		

		
			Name: Qunhua Ding
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			PURCHASER: Guangzhou Baiguoyuan Information Technology Co., Ltd.
		

		
			 
		

		
			Signatory:
		

		
			 
		

		
			Name: Jianqiang Hu
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 3
		

		
			 
		

		
			Power of Attorney
		

		
			 
		

		
			WHEREAS:
		

		
			 
		

		
			Chengdu Jiyue Internet Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China (the “ Domestic Company ”), Qunhua Ding, an individual with PRC nationality, ID Card number * (the “ Transferor ”), and Guangzhou Wangxing Information Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at X1301-E6803(JM), Building 1, No. 106 Fengze East Road, Nansha District, Guangzhou, China (the “ WFOE ”) have entered into an Exclusive Assets Purchase Agreement on [  ], 2019 (the “ Exclusive Assets Purchase Agreement ”).
		

		
			 
		

		
			THEREFORE:
		

		
			 
		

		
			The Domestic Company hereby irrevocably authorizes WFOE (including WFOE and its Designated Person) to fill in the date and relevant information in the Assets Transfer Agreement under the Exclusive Assets Purchase Agreement, and authorizes WFOE to retain such document.
		

		
			 
		

		
			The Shareholder hereby irrevocably authorized WFOE (including WFOE and its Designated Person) to fill in the date and relevant information in the Shareholder’s Resolution under the Exclusive Assets Purchase Agreement, and authorizes WFOE to retain such document.
		

		
			 
		

		
			This Power of Attorney shall become continuously effective from ___ ___, 20__ and shall not be revoked.
		

		
			 
		

		
			(The remainder of this page left blank intentionally)
		

		
			 
		

		
			 
		

		
			This page being the execution page of the Power of Attorney.
		

		
			 
		

		
			DOMESTIC COMPANY: Chengdu Jiyue Internet Technology Co., Ltd.
		

		
			 
		

		
			Signatory:
		

		
			 
		

		
			Name: Qunhua Ding
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			 
		

			
					
						SHAREHOLDER: Qunhua Ding

					
					
						 

				
	
					
						 

					
					
						 

				

		
			 
		

		
			(Signature)YY_Ex4_61

		
			Exhibit 4.61
		

		
			 
		

		
			Exclusive Business Cooperation Agreement
		

		
			 
		

		
			This Exclusive Business Cooperation Agreement (this “Agreement”) is made and entered into by and between the following parties on July 31, 2019 in Guangzhou, the People’s Republic of China (“ China ” or the “ PRC ”).
		

		
			 
		

		
			(1)         Chengdu Jiyue Internet Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China (“ Domestic Company ”); and
		

		
			 
		

		
			(2)         Guangzhou Wangxing Information Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at X1301-E6803(JM), Building 1, No. 106 Fengze East Road, Nansha District, Guangzhou, China (“ WFOE ”).
		

		
			 
		

		
			Each of Domestic Company and WFOE shall be hereinafter referred to as a “Party” respectively, and as the “Parties” collectively.
		

		
			 
		

		
			PREAMBLE
		

		
			 
		

		
			1.    WFOE is a consultancy company engaged in electronic, communication and network technology research and development. WFOE is competent and has necessary resources to provide technology development, technology publicity, technology transfer, technology consultant, technology services and cultural artistic activities organizing.
		

		
			 
		

		
			2.    The Domestic Company is a company specified in providing network technology, computer technology development, technical services; software development; electronic products, communication equipment, industrial automation control equipment technology development; technology intermediary services; electronic information technology services; animation design; power technology services; information system integration services; information technology consulting Services; data processing and storage services; sales: recreational equipment and entertainment supplies, cultural supplies (excluding books, newspapers, audiovisual products and electronic publications), electronic products, luggage, trinkets, small gifts (excluding licensed items), electrical equipment, arts and crafts (except ivory and its products), software, textiles and knitwear, clothing, stationery; ticketing agents; human resources agencies services (without relevant administrative permits, no business activities are allowed); organizing artistic exchange activities; literary and artistic creation; radio and television program production (without relevant administrative licenses, no business activities are allowed); value-added telecommunications business operations (without relevant administrative licenses, no business activities are allowed) (the " Business ").
		

		
			 
		

		
			3.     WFOE agrees to provide technology, consulting and other services related to the Business to the Domestic Company, the Domestic Company agrees to accept the services provided by WFOE or its assignee pursuant to the terms of this Agreement.
		

		
			 
		

		
			
		

		
			

		 

		

		
			4.     The Domestic Company intends to enter into an exclusive agreement with WFOE
		

		
			 
		

		
			NOW, THEREFORE, the Parties have reached the following agreements:
		

		
			 
		

		
			1.            DEFINITIONS AND INTERPRETATIONS
		

		
			 
		

		
			1.1          Definitions . Unless otherwise provided, in this Agreement:
		

		
			 
		

		
			Business has the meaning assigned to it in the Preamble.
		

		
			 
		

		
			Dispute has the meaning assigned to it in Section 16.2.
		

		
			 
		

		
			Force Majeure Event has the meaning assigned to it in Section 10.1.
		

		
			 
		

		
			Governmental Approval means all license, permit, approval, ratification, consent, waiver or registration required or issued by PRC government authorities.
		

		
			 
		

		
			Services has the meaning assigned to it in Section 2.1.
		

		
			 
		

		
			Service Fee has the meaning assigned to it in Section 3.1.
		

		
			 
		

		
			Term has the meaning assigned to it in Section 4.1.
		

		
			 
		

		
			1.2           Headings . All headings in this Agreement are for convenience only and shall not affect the interpretation of this Agreement.
		

		
			 
		

		
			1.3           Interpretations . Unless otherwise provided, below words, expressions and references shall have the following meanings:
		

		
			 
		

		
			(a)          When referring to the terms and exhibits of this Agreement, it shall also include such terms and exhibits as amended from time to time.
		

		
			 
		

		
			(b)          When referring to this Agreement or other agreement or document, it shall also include the modifications, remarks or supplements to this Agreement or other agreement or document from time to time.
		

		
			 
		

		
			(c)          When referring to any law or statutory provision, it shall also include any revision, extension, combination or replacement related to such law or provision, and any law or provision that revise, extend, combine or replace the first law or provision, and also include orders, ordinances, instructions or other subordinate legislation promulgated in accordance with relevant law or provisions.
		

		
			 
		

		
			(d)          Singular form shall also include plural form and vice versa.
		

		
			 
		

		
			
		

		
			

		 

		

		
			(e)          Person include individual, proprietorship, partnership, joint venture, company, joint-stock company, unincorporated organization, state and government organs, and its assignee, transferee or successor.
		

		
			 
		

		
			(f)           Include and especially are special terms for description or emphasis purposes only, and shall not limit any provision in any way.
		

		
			 
		

		
			(g)          This Agreement is drafted jointly by both Parties. No narrow interpretation rule shall be applied to any Party.
		

		
			 
		

		
			2.            SCOPE OF SERVICE
		

		
			 
		

		
			2.1           Service Description . The Domestic Company hereby engages WFOE as its exclusive service provider. During the Term of this Agreement, WFOE shall provide consulting services related to the research and development of electronics, communication and network technologies to the Domestic Company. Such services include but not limited to technical support, business consulting, intellectual property licensing, lease of equipment or property, sales, system integration, product research and development, system maintenance and other services solely considered by WFOE as necessary for the operation of the Domestic Company (the " Services ").
		

		
			 
		

		
			2.2           Exclusiveness . During the Term of this Agreement, without prior written consent of WFOE, the Domestic Company shall not, whether directly or indirectly, (i) solicit or accept any services identical or similar to the Services hereunder from any third party; or (ii) enter into cooperation agreement with any third party on issues related to the subject matter of this Agreement.
		

		
			 
		

		
			3.            SERVICE FEE
		

		
			 
		

		
			3.1          The Domestic Company shall pay WFOE a service fee for the Services contemplated in this Agreement (the " Service Fee ") on a quarterly basis. The amount of the Service Fee payable for each quarter shall be the net revenue (as recorded in the quarterly management report of the Domestic Company) of the Domestic Company in that particular quarter.
		

		
			 
		

		
			3.2          The Domestic Company shall pay the Service Fee to WFOE within ten (10) days upon the receipt of WFOE’s invoice, which shall be enclosed with a document evidencing the basis for the calculation of such Service Fee. Without prejudice to the provision of Section 3.4 of this Agreement, no deduction, offset or set-off shall be made when paying the Service Fee.
		

		
			 
		

		
			3.3          The Domestic Company shall prudently, duly and timely make its monthly and quarterly management report in accordance to its applicable accounting standard and policies, and shall provide such reports to WFOE as soon as possible.
		

		
			 
		

		
			3.4          If WFOE transfers technology to the Domestic Company or is entrusted by the Domestic Company with software or other technology development or leases equipment or assets to the Domestic
		

		
			
		

		
			

		 

		

		
			Company, the technology transfer fee, development fee or rent should be determined by both parties based on the actual situation.
		

		
			 
		

		
			3.5          In addition to the Service Fee, the Domestic Company shall bear all reasonable costs, advance payments and actual expenses in any form paid or incurred by or related to the performance or provision of Services by WFOE, and compensate WFOE in this regard.
		

		
			 
		

		
			3.6          The parties shall bear the taxes and fees they shall pay in accordance with the law when they sign and perform this agreement. If required by WFOE, the Domestic Company shall make every effort to assist WFOE in obtaining exemption from VAT of all or part of its Service Fee income under this Agreement.
		

		
			 
		

		
			3.7          The Domestic Company hereby confirms and agrees that, unless it has obtained the prior written consent of the WFOE or a person designated by the WFOE, the Domestic Company will not conduct or procure to conduct any activities or transactions that may materially affect the assets, business, personnel, obligations, rights or operation of the Domestic Company, and will not conduct or procure to conduct any activities or transactions that may materially affect the ability of the Domestic Company to perform its obligations under this agreement.
		

		
			 
		

		
			3.8          Within ninety (90) days after the end of each fiscal year, the Domestic Company shall (a) deliver to WFOE the audited financial reports of the Domestic Company of that fiscal year, which shall be reviewed and attested by an auditor approved by WFOE; and (b) if, as recorded in abovementioned audited financial statements, the net revenue of the Domestic Company in that fiscal year (A) is greater than the aggregate amount paid to WFOE by the Domestic Company quarterly in that fiscal year, pay the difference to WFOE; or (B) is less than the aggregate amount paid to WFOE by the Domestic Company quarterly in that fiscal year, the Domestic Company is entitled to set-off the amount payable to WFOE in the next fiscal year using such difference.
		

		
			 
		

		
			4.            TERM
		

		
			 
		

		
			4.1          This Agreement takes effect as of the date of execution. Unless terminated in accordance with the provisions of this Agreement or terminated by WFOE in writing, the term of this Agreement shall be perpetual (the " Term "). Notwithstanding the above stipulation, after the execution of this Agreement, the Parties shall review the provision in relation to the Services and the Service Fee from time to time to decide whether it is necessary to amend or supplement the provisions in this Agreement based on the actual circumstances at that time.
		

		
			 
		

		
			5.            TERMINATION
		

		
			 
		

		
			5.1          This Agreement takes effect upon execution, and remains effective throughout the Term, unless early terminated by WFOE at its own discretion through a written notice to the Domestic Company.
		

		
			 
		

		
			5.2          The parties represent that once the laws of China allow WFOE to directly hold and WFOE decides to hold the shares of the Domestic Company and WFOE and/or its subsidiaries and branches can
		

		
			
		

		
			

		 

		

		
			legally engage in the business of the Domestic Company, the parties will terminate this Agreement after all the shares of the Domestic Company are transferred to WFOE according to the Exclusive Option Agreement signed by the direct and indirect existing shareholders of the Domestic Company on the same day of the date hereof.
		

		
			 
		

		
			5.3          The rights and obligations of the Parties under Articles 6, 9, 14, 15 and the Section 5.3 shall survive the termination of this Agreement.
		

		
			 
		

		
			5.4          Before the expiration of the Term of this agreement, this Agreement shall not be terminated by the Domestic Company.
		

		
			 
		

		
			6.            INTELLECTUAL PROPERTY RIGHTS
		

		
			 
		

		
			6.1          WFOE or its domestic subsidiary shall have exclusive and proprietary rights and interests in all rights, ownership, interests of the intellectual property rights arising out of or created during the performance of this Agreement, including but not limited to copyrights, patents, patent applications, trademarks, software, technology secrets, trade secrets, technical know-how and other intellectual property rights created by the Domestic Company or WFOE.
		

		
			 
		

		
			6.2          If a research or development is based on intellectual property rights owned by the Domestic Company, the Domestic Company shall ensure that such intellectual property rights are free of defects, otherwise the Domestic Company shall be liable for all damages and losses caused by such defects and incurred by WFOE or its domestic subsidiary. If WFOE or its domestic subsidiary is liable to any third party due to such defects, WFOE or its domestic subsidiary shall be entitled to indemnity from the Domestic Company for all losses.
		

		
			 
		

		
			6.3          WFOE or its domestic subsidiary may license the intellectual property rights mentioned in Section 6.1 to the Domestic Company and its associated parties on a non-exclusive basis. Such license shall be subject to a separate agreement entered into by both Parties. Without prior written consent of WFOE or its domestic subsidiary, the intellectual property rights licensed by WFOE or its domestic subsidiary to the Domestic Company shall not be transferred or sublicensed to any third party by the Domestic Company.
		

		
			 
		

		
			7.            UNDERTAKINGS
		

		
			 
		

		
			7.1          The Domestic Company undertakes as follows:
		

		
			 
		

		
			(a)          Without prior written consent of WFOE, it shall not conduct business outside its ordinary scope of business;
		

		
			 
		

		
			(b)          Without prior written consent of WFOE, it shall not provide to or accept from third party any material loans, except for those happened in the ordinary course of business;
		

		
			
		

		
			

		 

		

		
			(c)          Without prior written consent of WFOE, it shall not succeed or guarantee any debt, except for those happened in the ordinary course of business;
		

		
			 
		

		
			(d)          Without prior written consent of WFOE, it shall not merge or enter into consortium with any third party, or acquire any third party, or be acquired or controlled, increase or decrease its registered capital, or in other way change its registered capital structure;
		

		
			 
		

		
			(e)          In line with the requirement of WFOE, it shall comply with PRC laws, appoint any Person designated by WFOE as the legal representative, directors and senior officers of the Domestic Company, and not to change or dismiss any director or senior officer without prior written consent of WFOE;
		

		
			 
		

		
			(f)           Without prior written consent of WFOE, it shall not sell to or acquire from third party, or in any other way dispose its material assets, whether tangible or intangible, except for those happened in the ordinary course of business;
		

		
			 
		

		
			(g)          Without prior written consent of WFOE, it shall not provide guarantee or guarantee in other forms to third party using its assets, or create any encumbrances to its assets;
		

		
			 
		

		
			(h)          It shall first consult with WFOE for any amendment to its articles of association;
		

		
			 
		

		
			(i)           Without prior written consent of WFOE, it shall not in any way distribute dividends or share interests.
		

		
			 
		

		
			(j)           Without prior written consent of WFOE, it shall not enter into liquidation and division of its remaining property;
		

		
			 
		

		
			(k)          Without prior written consent of WFOE, the Domestic Company shall not solicit or accept any services related to the Business from any third party, or enter into cooperation agreement with any third party on issues related to the subject matter of this Agreement, whether through service, lease, business cooperation or any other form;
		

		
			 
		

		
			(l)           Without prior written consent of WFOE, it shall not recruit or employ new employees;
		

		
			 
		

		
			(m)         When making any decision that may create material effect on the business, operation, assets, right or obligation of the Domestic Company, it shall consult with WFOE. In addition, the Domestic Company shall implement legitimate business or technical orders or instructions sent by WFOE from time to time, unless there are obvious material negligence in such orders or instructions; and
		

		
			 
		

		
			(n)          Procure any of its affiliates or subsidiaries to abide by above undertakings.
		

		
			 
		

		
			8.            REPRESENTATIONS AND WARRANTIES
		

		
			
		

		
			

		 

		

		
			8.1          The Domestic Company represents and warrants to WFOE as follows:
		

		
			 
		

		
			(a)          The Domestic Company is a company legally registered and validly existing in accordance with the PRC laws and is competent and has obtained the relevant powers and authorizations for owning, operating and leasing its assets and properties and engaging in its current business. The Domestic Company has obtained all necessary consent and approval from third parties and government agencies to conduct business in the territory of PRC;
		

		
			 
		

		
			(b)          The Domestic Company has obtained all necessary consent, approval, authorization and order for the execution, delivery and performance of this Agreement, and the Domestic Company has all rights, powers and abilities to execute, deliver and perform this Agreement. The execution and performance of this Agreement by the Domestic Company belong to its scope of business.
		

		
			 
		

		
			(c)          The execution, delivery and performance of this Agreement, and the consummation of the transaction contemplated herein will not (i) breach any law of PRC; (ii) conflict with any contract entered into by the Domestic Company, or result in any default or breach of such contract by the Domestic Company; or (iii) be in contrary to any condition of the permits or approvals required for the Domestic Company to conduct its business; and
		

		
			 
		

		
			(d)          This Agreement, subject to its terms, constitutes the Domestic Company’s legal, valid and binding obligations, and shall be enforceable against it.
		

		
			 
		

		
			8.2          WFOE represents and warrants to the Domestic Company as follows:
		

		
			 
		

		
			(a)          WFOE is a company legally registered and validly existing in accordance with the PRC laws;
		

		
			 
		

		
			(b)          The execution and performance of this Agreement by WFOE are consistent with its corporate qualification and belong to its scope of business;
		

		
			 
		

		
			(c)          WFOE has taken all necessary corporate actions to obtain approval and authorization to enter into this Agreement; and
		

		
			 
		

		
			(d)          This Agreement, subject to its terms, constitutes WFOE’s legal, valid and binding obligations, and shall be enforceable against it.
		

		
			 
		

		
			9.            DEFAULT AND INDEMNIFICATION
		

		
			 
		

		
			9.1          Any of below circumstances shall constitute a default of the Domestic Company under this Agreement:
		

		
			 
		

		
			(a)          Non-payment: The Domestic Company fails to pay due and payable Service Fee to WFOE in accordance with the terms and conditions of this Agreement;
		

		
			
		

		
			

		 

		

		
			(b)          Breach of Other Obligations: The Domestic Company fails to perform its obligations under this Agreement, including breaching any representations or warranties made by the Domestic Company;
		

		
			 
		

		
			(c)          Loss of Goodwill : The non-payment of any debt owed by the Domestic Company which is declared to be or becomes due and payable before maturity, or the non-payment at maturity of any debt owed by the Domestic Company of which the creditor is entitled to declare due and payable before maturity;
		

		
			 
		

		
			(d)          Enforcement: The creditors seize or possess the assets of the Domestic Company, or initiate proceedings to seize, enforce, confiscate or apply other proceedings on the assets of the Domestic Company; and
		

		
			 
		

		
			(e)          Regulatory Measures: Any government organ applies any measure, proceeding, fine or other adverse regulatory measures against the Domestic Company or its business, including without limitation, repeal or discontinue to issue any government approval.
		

		
			 
		

		
			9.2         The Domestic Company shall indemnify and hold harmless WFOE and its director, officers, employees, agents and associated parties from any losses, damages, injuries, obligations or expenses caused by any lawsuit, claims or other demands against WFOE arising from or caused by the default of the Domestic Company under this Agreement.
		

		
			 
		

		
			10.          FORCE MAJEURE
		

		
			 
		

		
			10.1       If any Party delays or fails to perform its obligation hereunder due to fire, strike, embargo, government requirement, military action, terrorist assault or terrorist threats, action of God or other exceptional situation that cannot be overcome or avoided by the Parties and cannot be foreseen by the Party alleged to be affected by such force majeure when entering this Agreement (each a “Force Majeure Event”), such Party shall not be liable. If a Force Majeure Event takes place, the Party being affected shall immediately notify the other Party; during the existence of the Force Majeure Event, the Party being affected shall suspend its performance of this Agreement, and the time for performance after the Force Majeure Event is ended for the Party being affected shall be extended accordingly, the period extended shall be equal to the period of the existence of the Force Majeure Event. The Party being affected shall notify the other Party in writing within fifteen (15) days after it becomes aware of such Force Majeure Event, to describe the nature of the Force Majeure Event and the estimated period it may last. Furthermore, the affected Party shall make commercially reasonable endeavor to reduce the impact of such Force Majeure Event.
		

		
			 
		

		
			11.          NO JOINT VENTURE
		

		
			 
		

		
			11.1       Neither of the Parties hereto intends to establish any relationship of partnership, delegation, agency or joint venture, and nothing contained in this Agreement shall be construed as creating any such relationship between the Parties. Under no circumstances shall any Party or its agent or employee becomes the representative of the other Party, unless otherwise expressly provided in this Agreement; no
		

		
			
		

		
			

		 

		

		
			Party shall act as the agent, employee or in other name to provide, create or assume any obligation on behalf of the other Party.
		

		
			 
		

		
			12.          NOTICE
		

		
			 
		

		
			12.1           All the notices and other communications pursuant to this Agreement shall be delivered to the following address of each Party in person, by registered mail, prepaid post, or commercial courier services, or facsimile. Each notice shall be confirmed with a respective email. Delivery shall be deemed to have occurred:
		

		
			 
		

		
			(a)                Notices given in person, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of receipt, refusal or returned for any reason at the address specified for notices.
		

		
			 
		

		
			(b)               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).
		

		
			 
		

		
			12.2           For the purpose of notice, all the notices, communications or other documents delivered to the parties of this Agreement shall be delivered to the following address or facsimile number of relevant Party by telegraph, facsimile or post:
		

		
			 
		

		
			(a)          If send to WFOE:
		

		
			 
		

			
					
						 

				
	
					
						Address: 24/F, Building B-1, North Block of Wanda Plaza, No. 79 Wanbo Er Road, Nancun Town, Panyu District, 

				
	
					
						Guangzhou,

				
	
					
						Telephone: 

				
	
					
						Attention: Jianqiang Hu

				

		
			 
		

		
			(b)          If send to the Domestic Company:
		

		
			 
		

			
					
						Address: 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China

				
	
					
						Telephone:

				
	
					
						Attention: Qunhua Ding

				

		
			 
		

		
			13.          TRANSFER AND ASSIGN
		

		
			 
		

		
			13.1       Unless with the prior written consent of WFOE, the Domestic Company has no right to transfer or assign any of its rights and obligations hereunder.
		

		
			 
		

		
			13.2       The Domestic Company hereby agrees that WFOE may transfer its rights and obligations under this Agreement to a third party, and that WFOE only needs to send a written notice to the Domestic Company when such transfer occurs, and there is no need to obtain consent from the Domestic Company for such transfer.
		

		
			 
		

		
			
		

		
			

		 

		

		
			14.          CONFIDENTIALITY
		

		
			 
		

		
			14.1       Each Party recognizes and confirms this Agreement, the content of this Agreement, and any and all oral and written information exchanged among them for the preparation and performance of this Agreement shall be deemed as confidential information. Each Party shall hold in confidence all such confidential information, and without the written consent from the other Parties, should not disclose any confidential information to any third party, provided that, confidential information shall not include information that (a) is or becomes available to the public other than as a result of disclosure by the receiving Party in violation of this Contract, or (b) any information which must be disclosed pursuant to laws and regulations, stock trading rules, or as required by order or decree of governmental authorities or courts; or (c) any information disclosed by either Party to its shareholders, investors, legal or financial advisors in relation to the transactions contemplated herein, who are bound by confidentiality obligation similar to this provision. Any disclosure of confidential information by the professionals or institutions engaged by either Party shall be deemed as the disclosure by such Party, and such Party shall be held liable for breach.
		

		
			 
		

		
			14.2       This section 14 shall still be valid and binding within two years upon the termination of this Agreement.
		

		
			 
		

		
			15.          GOVERNING LAW AND RESOLUTION OF DISPUTES
		

		
			 
		

		
			15.1        Governing Law. This Agreement, including the validity, rights and obligations of both Parties under this Agreement, shall be governed by and construed in accordance with the laws of China.
		

		
			 
		

		
			15.2        Dispute Resolution. The Parties will firstly attempt in good faith to resolve any and all disputes arising out of or relating to this Agreement, including disputes related to the existence, validity, interpretation or termination (the “Dispute”), through friendly consultations. If a Dispute is not resolved through friendly consultations within thirty (30) days from the date a Party gives the other Party written notice of the Dispute, then each Party may submit the dispute to Guangzhou Arbitration Commission for arbitration in accordance with then effective arbitration rules. The number of arbitrators shall be one. If the Parties reject the assignment of arbitrator within twenty (20) days after any Party gives the notice of arbitration, Guangzhou Arbitration Commission shall assign another arbitrator. The arbitration shall be conducted in Guangzhou in Chinese. The award of the arbitration tribunal shall be final and binding upon the Parties.
		

		
			 
		

		
			16.          AMENDMENT AND WAIVER
		

		
			 
		

		
			16.1        Amendment. Any amendment to this Agreement shall be made in writing, and only takes effect after the execution by all Parties hereunder. The amendments and supplements duly executed by all the Parties constitute an integral part of this Agreement, and have the same legal effectiveness as this Agreement.
		

		
			 
		

		
			
		

		
			

		 

		

		
			16.2        No Implied Waivers. To protect the rights and interests of WFOE, when necessary, WFOE may exercise the rights under this Agreement at any time, as such rights are in addition to any right provided by law to WFOE. Unless expressly waived in writing by WFOE, the rights of WFOE shall not be waived. Any delay in exercising its rights by WFOE shall not constitute the waiver of such right.
		

		
			 
		

		
			17.          MISCELLANEOUS PROVISIONS
		

		
			 
		

		
			17.1        Tax and Expenses. The tax and expenses applicable to the execution and performance of this Agreement shall be borne by the respective Party.
		

		
			 
		

		
			17.2        Further Assurances. On a legitimate and feasible basis, the Parties hereto agree to use all usable rights or powers and through reasonable endeavor to execute all necessary documents and do all such other things to ensure the completely, timely compliance and performance of the provisions and principles of this Agreement.
		

		
			 
		

		
			17.3        Entire Agreement. This Agreement and other Main Agreements constitute the entire agreement reached among the Parties relating to the Pledge hereof, and supersedes in their entirety all prior written and oral agreements and understandings among the Parties relating to the subject matter hereof. The exhibits are incorporated into this Agreement through reference and constitute an integral part of this Agreement.
		

		
			 
		

		
			17.4        Termination. This Agreement shall enter into its effectiveness upon execution. WFOE is entitled to terminate this Agreement at its own discretion.
		

		
			 
		

		
			17.5        Severability and Replacement. If any single or multiple provisions hereof are judged invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected in any aspect. The Parties shall in good faith, endeavor to use valid provisions to the extent allowed by laws and reflecting the intensions of all the Parties, to replace those invalid, illegal or unenforceable provisions, provided that, the economic effects achieved by such valid provisions shall be similar to the economic effects achieved by those invalid, illegal or unenforceable provisions.
		

		
			 
		

		
			17.6        Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any Party whose signature appears thereon, and all of which together shall constitute one and the same instrument. Counterparts delivered through email attachments or facsimile photocopies shall be deemed as effective deliveries.
		

		
			 
		

		
			17.7        Language. This Agreement is executed in the Chinese language.
		

		
			 
		

		
			(The remainder of this page left blank intentionally)
		

		
			 
		

		
			IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the date first above written.
		

		
			 
		

		
			
		

		

		 

	
					
						

					
						 

					
					
						 

				
	
					
						Guangzhou Wangxing Information Technology Co., Ltd. (seal)

					
					
						 

				
	
					
						/seal/ Guangzhou Wangxing Information Technology Co., Ltd.

					
					
						 

				
	
					
						/s/ Jianqiang Hu

					
					
						 

				
	
					
						Name: Jianqiang Hu

					
					
						 

				
	
					
						Title: Legal Representative

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Chengdu Jiyue Internet Technology Co., Ltd. (seal)

					
					
						 

				
	
					
						/seal/ Chengdu Jiyue Internet Technology Co., Ltd.

					
					
						 

				
	
					
						/s/ Qunhua Ding

					
					
						 

				
	
					
						Name: Qunhua Ding

					
					
						 

				
	
					
						Title: Legal Representative

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