Document:

Exhibit 10.15

 

China Merchant Bank

 

Seal passed verification

 

Loan
Certificate

 

	Contract Number: 755HT2021169271	 	Lending Date: Sep., 2021

 

	
    Name of Borrower:
	Shenzhen VLG Wireless Technology Co., Ltd.	Account number	755923831810101
	Loan amount:	Currency: RMB (in words) Five Million Yuan Only	In figures	
    RMB 5,000,000 Yuan

     

     

	
    Business due date:

     
	September 26, 2022	Interest rate	þFixed
rate	☐ Floating
rate: Floating period: þ M/☐  D
	
    Based
    on the one-year loan market quotation rate as published by the National Inter-Bank Offer Rate Center
    on the working day before the pricing date. ☐ floating up/☐ down %, or þadding/☐
    subtracting 50 basis points. 

    ☐ One-off
    Interest Collection (Collect Before/After) þ Interest
    Settlement by Month ☐ Interest Settlement by Quarter ☐ Annual Interest Settlement ☐ Interest Settlement by Single
    Amounts

	
     

     It is hereby confirmed that
the above amount has been issued by the bank; the use, repayment or abnormality of the fund borrowed shall be handled in accordance with
the relevant business agreement. Shenzhen VLG Wireless Technology Co., Ltd., Special seal for finance (sealed) Bai Guiqing (sealed)

     

	 	 	 	 	 	 

 

     

     

    

 

Attention:

 

Dear Customer, In order to safeguard the Bank
rights and interests, please read the full contract carefully before signing, especially the blackened and bold clauses. If there is any
doubt, please inquire. Or the Bank may further consult the Bank lawyer and relevant professionals. 

 

Loan Agreement

 

No.: 755HT2021169271

 

☐
This contract is the specific contract under Credit Agreement numbered       /      
,(If this clause applies, tick “☐”)

 

Lender: China Merchants Bank Co., Ltd., Shenzhen Branch (Hereinafter
referred to as “Party A”)

 

Borrower: Shenzhen VLG Wireless Technology Co., Ltd. (Hereinafter
referred to as “Party B”)

 

Party B applies to Party A for loan, and Party
A agrees to issue the loan upon review. Party A and Party B hereby concluded the Contract based on the following clauses through thorough
consultation in accordance with relevant laws and regulations.

 

1. Currency and amount of loan

 

RMB (in words) Five Million Yuan only.

 

2. Purpose of the loan

 

This loan is a working capital loan and can only
be used for payment of goods. Without the written consent of Party A, Party B shall not divert for other purposes.

 

3. Term of loan

 

For a period of 12 months, counting from
the actual loan issuing date, subject to the loan certificate (or Party A’s system record). 

 

During the term of the loan, Party A may issue
the loan by installments according to the actual usage of the loan by Party B, and the specific loan amount and start/end date of each
period shall follow the loan certificate (or Party A’s system record). 

 

þ
During the loan term, Party A has the right to require Party B to repay
the loan in installments in accordance with the following plan (if the following terms are selected, tick “☐”):

 

For the loan principal under the Contract,
Party B shall repay One Hundred and Fifty Thousand Yuan Only on the 21st of each month from the month following the loan issuance date,
and the balance shall be settled at one time on the expiry date of the loan term under the Contract;

 

/

 

☐
Party B shall repay all loan principal at a lump sum on the loan maturity date. (If this clause is used, tick “☐”)

 

    2

     

    

 

4. Account information

 

☐ 4.1
Loan-specific account (Tick “☐”
to indicate that the provisions of this article apply)

 

The issuance and external payment of all loan funds under the Contract
shall be handled through the following accounts.

 

Account name:/

 

Account No.:/

 

Bank:/

 

4.2. Fund receiving account

 

4.2.1 Party A and Party B agree to designate the
following account as Party B’s fund receiving account:

 

Account name: Shenzhen VLG Wireless Technology
Co., Ltd.

 

Account No.: 755923831810101

 

Bank: China Merchants Bank Co., Ltd., Shenzhen
Venture Branch

 

4.2.2 The account monitoring requirements are
as follows: _/ 

 

Party A has the right to withdraw the loan
in advance according to Party B’s fund receiving, that is, when capital flow into the account, the corresponding amount of loan can be
considered as due in advance, and Party A has the right to directly deduct from the account to repay the loan.

 

4.2.3 Party B shall provide the above-mentioned
account in-flow and out-flow information on a quarterly basis, and cooperate with Party A to monitor relevant accounts and receiving funds.

 

5. Loan rate and interest

 

5.1 Interest rate:

 

5.1.1 The
loan adopts (tick “☐”
if applicable):

 

R Fixed
rate    £ Floating
rate

 

5.1.2 Determination
of interest rate during the contract period (tick “☐”
if applicable):

 

5.1.2.1
In the case of issuing RMB loan, the quotation rate (LPR) in the loan market of one year or above published by the National Inter-Bank
Offer Rate Center for þ1-year/☐ 5-yaear
above loan on working day before the pricing date shall be taken as the benchmark interest rate, þplus/minus
50.00 basic points (BPs) or/as the benchmark interest rate.

 

The floating ratio (hereinafter referred to as
“floating ratio”) or plus or minus basic point (hereinafter referred to as “basic point”) agreed herein on the
basis of the benchmark interest rate refers to that determined at the time of signing of the Contract. If the floating ratio or basic
point (BPs) and other interest rate elements agreed herein are inconsistent with the records of the loan certificate (or Party A’s system
record), the records of the loan certificate (or Party A’s system record) shall prevail.

 

5.1.2.2
In the case of foreign currency loan, the benchmark interest rate shall base on the pricing date or the first or second working day prior
to the pricing day for the same currency loaned for ☐  /
month/☐  / day, ☐ 
/ plus/☐  /
minus/basic point (BPs). Party A shall determine the interest rate based on international practices.

 

    3

     

    

 

5.1.2.3 Pricing date refers to the reference date
used to determine the benchmark interest rate during the loan period or floating period. If the fixed interest rate is adopted for the
loan, the pricing date shall be the actual issuing date of the loan; when the floating interest rate is adopted for the loan, the pricing
date shall be determined in accordance with Article 5.1.3.

 

5.1.3 In the case of this loan, the floating rate
shall be a floating period of / month / day, and the base rate applicable during each floating period shall be determined
in accordance with the provisions of this Article.

 

The actual loan issue date is the pricing date
of the first floating period, and the first day of each floating period thereafter is the pricing date of the floating period.

 

5.1.4 Party A has the right to adjust the benchmark
interest rate or interest rate pricing method periodically or irregularly according to the changes in relevant national policies, domestic
and foreign market changes or changes in Party A’s own credit policies. Such adjustment shall come into force after Party A notifies Party
B (the notice shall be released at Party A’s outlet or on the official website of China Merchants Bank, or shall be sent to Party B per
any contact address/method specified herein). The relevant loan newly regarding the withdrawal by Party B and the specific benchmark interest
rate, floating ratio and/or basic point of the loan which has been withdrawn by Party B and has not been repaid before the notice takes
effect shall be executed according to the notice of Party A. If Party B does not accept the adjustment, the loan may be repaid in advance;
otherwise, it shall be deemed as approved and executed according to the notice.

 

In the case of any inconsistency between this
Clause and other relevant parts of this Contract, the provisions of this Clause shall prevail.

 

5.1.5 If Party B fails to use the loan in accordance
with the contract, for the loan part not for intended use, the penalty interest shall be charged 100% over the original rate from
the date of change of use. The original rate means the rate applicable before the loan is repurposed.

 

Where Party B fails to repay the loan on schedule,
the overdue interest (i.e. penalty interest) shall be charged on the basis of 50% (overdue loan interest rate) of the original
interest rate as of the overdue date. The original rate means the rate applicable before the maturity date of the loan (including the
advance maturity date) (or, in the case of a floating rate, the last floating period before the maturity date of the loan (including the
advance maturity date)).

 

If the loan is overdue and not used in accordance
with the contracted purpose, interest shall be calculated according to the higher of the above provisions.

 

5.1.6 If the People’s Bank of China adjusts the
loan interest rate during the loan period, the relevant regulations of the People’s Bank of China shall be followed.

 

5.1.7 Unless otherwise specified, the loan interest
rate hereunder shall be calculated by the simple interest method.

 

5.2 Interest calculation: The interest of the
loan shall be calculated according to the actual loan amount and actual occupation days from the date of the loan entering into Party
B’s account, and the interest calculation date shall be 20 days per month. The daily interest rate of RMB is equal to annual interest
rate dividing 360, and the conversion method of daily interest rate of foreign currency shall be implemented in accordance with international
practices.

 

If the maturity date of the loan is on a holiday,
the loan shall be automatically postponed until the first following working day, and the interest shall be calculated according to the
actual days occupied by the loan fund.

 

    4

     

    

 

5.3 Interest Payment

 

5.3.1 (Please
tick “☐”
for the applicable terms):

 

þ Party
B shall pay interest on each interest day, and Party A may directly deduct interest payable from any of Party B’s account of China
Merchants Bank.

 

☐  Party
B shall pay all interest on the loan at one time on the maturity date of the loan, and Party A may directly deduct from any of Party B’s
account of China Merchants Bank.

 

5.3.2 If the last repayment date of the loan principal
is not the interest-bearing date, the last repayment date of the loan principal is the interest-paying date on which the Borrower shall
pay all interest payable on the loan principal. If Party B fails to pay interest on time, Party B shall calculate compound interest on
unpaid interest (including penalty interest) according to the overdue interest rate specified herein.

 

6. Prepayment

 

6.1 Where Party B applies for prepayment, it shall
submit a written application to Party A 7 working days before the planned prepayment date, and pay the penalty for prepayment to Party
A (except that Party B is a national standard small and micro enterprise). Prepayment penalty = prepayment amount * proportion of penalty
damages. The specific proportion of penalty shall be determined by Party A according to the loan term and loan aging (i.e. the actual
duration of the loan) agreed herein. After Party A approves Party B’s application for early repayment and notifies Party B in writing
of the specific proportion of penalty, Party B shall pay Party A full amount of penalty for early repayment within the time required by
Party A; otherwise Party A has the right to refuse Party B’s application for prepayment. Party A has the right but not the obligation
to appropriately reduce the amount of penalty for Party B’s prepayment according to such factors as the remaining term of the loan at
the time of prepayment.

 

6.2 Party B shall repay the loan in advance, and
the interest rate shall still be calculated according to the stipulations of the Contract, and the interest payable shall be calculated
according to the actual loan term.

 

7.
Party B shall select (tick “☐”
according to the actual situation) as required by Party A:

 

☐ Insure
its core assets and designate Party A as the first beneficiary in order;

 

☐ Party
B shall not sell or mortgage the assets designated by Party A before the loan is settled;

 

☐ Limit
the dividend of its shareholders according to the requirements of Party A before the loan is settled as follows:

 

/

 

Party B shall ensure that all financial indexes
of Party B during the loan period are not lower than the following requirements:

 

/

 

8. Security clause

 

8.1 All debts owed by Party B to Party A under
the Contract shall be provided by Party B or a third party approved by Party A with property pledge guarantee or joint and several guarantee,
and Party B or a third party as guarantor shall issue or sign a separate guarantee document as required by Party A.

 

8.2 If the Contract is a specific contract under
the Credit Agreement, the liabilities under the Contract shall be automatically included in the guarantee scope of the guarantor who has
signed the maximum amount mortgage/pledge contract with Party A or issued the maximum amount irrevocable guarantee to Party A.

 

    5

     

    

 

8.3 In the case that the Guarantor provides real
estate mortgage guarantee for all debts owed by Party B to Party A under the Contract, if Party B is aware that the mortgaged property
has been or may be included in the government demolition and collection plan, Party B shall immediately notify Party A, and urge the Mortgagor
to continue to provide guarantee for Party B’s debts with the compensation products provided by the demolition party in accordance with
relevant stipulations in the mortgage contract and complete corresponding guarantee formalities in time, or provide other guarantee measures
required and recognized by Party A.

 

8.4 If the Guarantor fails to sign the guarantee
agreement and complete the guarantee formalities (including the A/R debtor defence against the A/R before the A/R pledge), Party A has
the right to refuse to issue the loan to Party B.

 

9. Loan prerequisites

 

The granting of the loan under this contract (including
each loan separately granted) shall be based on the condition that Party B meets the following conditions. Party A has the right to refuse
to issue loan if Party B fails to comply with the following:

 

9.1 Party B provides relevant materials according
to the requirements of the Contract;

 

9.2 Party B shall cooperate with Party A’s supervision
and inspection according to the requirements of the Contract;

 

9.3 For the loan issued, Party B has fulfilled
the obligation of repayment in full and on time;

 

9.4 Party B does not have any event of default
specified in the Contract;

 

9.5 Party B does not violate other provisions
of the Contract.

 

The loan precondition is established to protect
the rights and interests of Party A, and Party A has the right to unilaterally lower the requirements on the loan precondition.

 

10. Rights and obligations of Party B

 

10.1 Party B shall enjoy the following rights:

 

10.1.1 Has the right to draw and use all loans
as agreed herein;

 

10.1.2 Has the right to require Party A to keep
confidential the production, operation, property and account provided by Party B, unless otherwise specified herein;

 

10.1.3 Shall have the right to transfer debts
to a third party after obtaining the written consent of Party A.

 

10.2 Party B shall undertake the following obligations:

 

10.2.1 It shall truthfully provide the documents
and materials required by Party A (including but not limited to providing the true financial account books/statements and annual financial
reports, major decisions and changes in production, operation and management, fund withdrawal/spending materials and materials related
to collateral according to the period required by Party A), the financing situation of Party B in other financial institutions and the
non-governmental financing situations (including the financing obtained by Party B at the time of signing the Contract and the financing
being applied for), as well as all the opening banks, account numbers and the balance of deposit and loan, so as to ensure the truthfulness,
accuracy and completeness of the provided materials, and cooperate with the investigation, review and inspection of Party A;

 

    6

     

    

 

10.2.2 Party B shall accept Party A’s supervision over its use of credit
funds and related production, operation and financial activities, and timely take reasonable measures for Party A’s suggestions or requirements;

 

The 10.2.3 Party B shall use the loan for the
purposes specified in the Contract and comply with the requirements of Party A on the payment management of loan funds;

 

10.2.4 Party B shall repay the loan principal,
interest and expenses in full and on time as agreed in the Contract;

 

10.2.5 When Party B transfers all or part of the
debts hereunder to a third party, Party A’s written consent shall be obtained;

 

10.2.6 In the case of any of the following circumstances,
Party B shall immediately notify Party A and cooperate with Party A to implement the guarantee measures for the full repayment of loan
principal and interest and all other expenses under the Contract as required by Party A:

 

10.2.6.1 Significant financial loss, asset loss
or other financial crisis;

 

10.2.6.2 To provide loans or guarantees for the
benefit of third parties or to protect third parties from loss, or to provide collateral (pledge) security against their own property
(rights) (or all property/rights of the actual controller or its affiliates);

 

10.2.6.3 The credit status decreases and the profitability
of the main business decreases;

 

10.2.6.4 In the case of suspension, revocation
or cancellation of business license, application or bankruptcy or dissolution, or change of important enterprise information, such as
change of enterprise name, registered address, business camp and beneficial owner; Or the controlling shareholder/actual controller of
the Borrower changes; Or the legal representative, director or important senior management of the Borrower has personnel changes, or the
freedom of such persons is restricted by the state authority due to violation of laws, discipline and other matters, or missing for more
than 7 days, which may affect the normal operation of the Borrower;

 

10.2.6.5 The operation or financial crisis of
its controlling shareholder, actual controller or other affiliated company affects its normal operation; Or its controlling shareholder/actual
controller abuses the independent status of the company as a legal person or limited liability of the shareholder, evades debts, stops
production, closes business, is cancelled or revoked business license, applying for or is applied for bankruptcy, dissolves, is punished
by the competent authority, constitutes a criminal offence, and involves a material legal dispute; Or the legal representative/principal
person in charge, director or important senior management of the controlling shareholder or other affiliated company or the actual controlling
person changes, or such persons are punished/restricted by the state authority for violation of laws and discipline, or are missing for
more than 7 days, which may affect its normal operation;

 

10.2.6.6 The major related transaction between
its controlling shareholders, other affiliated companies and actual controllers with amount more than 10% of Party B’s net assets (Party
B’s notice shall cover at least the affiliated relationship of all parties to the transaction, transaction items and nature, transaction
amount or corresponding proportion, pricing policy (including transactions with no amount or only symbolic amount), etc.);

 

10.2.6.7 Any lawsuit, arbitration or criminal or administrative penalty
that causes significant adverse consequences to its operation or property status;

 

10.2.6.8 Party B or its actual controller commits
large amount of non-governmental usury; Or bad credit records such as lending to pay old loan, overdue loan, interest overdue, etc. in
other bank; Or the internal capital chain of the affiliated enterprise of Party B fails, resulting in debt crisis; Or Party B’s project
stops, delays construction or in major investment errors;

 

    7

     

    

 

10.2.6.9 Other major events that may affect the
solvency of Party B and its controlling shareholders/actual controllers.

 

10.2.7 Party B shall not slack in the administration
and recovery of claims due or dispose of existing principal property free of charge or otherwise improperly.

 

10.2.8 Party B shall obtain the written consent
of Party A before undertaking major matters such as merger, division, reorganization, joint venture (cooperation), property right transfer,
joint stock system reform, foreign investment and debt financing increase.

 

10.2.9 Party B shall ensure that the settlement,
payment and other income and expenditure activities are mainly carried out in the bank settlement accounts opened by Party A. During the
loan period, the settlement transaction share of Party B in the designated account shall be at least not less than the financing share
of Party B in Party A.

 

10.2.10 In the case that Party B provides security
pledge, if the balance of the security account is less than 95% of the corresponding specific loan amount due to exchange rate fluctuation,
Party B is obliged to add security or other guarantees of corresponding amount as required by Party A.

 

11. Rights and obligations of Party A

 

11.1 Party A shall enjoy the following rights:

 

11.1.1 Party A has the right to require Party B to repay the loan principal,
interest and expenses in full as agreed term;

 

11.1.2 Party A has the right to request Party
B to provide information related to the loan;

 

11.1.3 Party A has the right to know Party B’s
production, operation and financial activities;

 

11.1.4 Party A has the right to supervise Party
B to use the loan for the purposes agreed in the Contract;

 

11.1.5 Party A shall have the right to supervise
the accounts opened by Party B in Party A and entrust other institutions of China Merchants Bank other than Party A to supervise the accounts
of Party B, and control the payment of loan funds according to the loan purpose and payment scope agreed by both parties; have the right
to unilaterally suspend or restrict other online functions of the enterprise online banking/enterprise APP/of Party B’s account directly
(including but not limited to closing other online functions of the enterprise online banking/enterprise App/, preset payment object list/single
payment limit/stage payment limit, etc.) and other electronic payment channels, restrict the sale of settlement vouchers, restrict the
counter payment and transfer of Party B’s account, and the payment and exchange functions of non-counter channels such as telephone bank
and mobile bank;

 

11.1.6 Party A has the right to directly deduct
money from the account opened by Party B in any institution of China Merchants Bank for repayment of the debts owed by Party B under the
Contract and each specific business document (if the credit debt is not in RMB, Party 11.1.6 has the right to directly purchase foreign
exchange or trade foreign exchange from any account of Party B according to the exchange rate announced at the time of deduction to repay
the credit principal, interest and expenses);

 

11.1.7 Party A shall have the right to transfer its creditor’s rights
to Party B, and have the right to notify Party B of the transfer matters by fax, mailing, special person service, public announcement
and the like, and to urge Party B to repay;

 

    8

     

    

 

11.1.5 In the buyer’s credit seller’s interest
repayment business and the seller’s credit buyer’s interest repayment business, Party A has the right to refuse to issue the loan to Party
B before receiving the Interest Payment Commitment Letter submitted by the Seller/Buyer;

 

11.1.9 Party A has the right to withdraw the loan in advance according
to Party B’s fund inflow;

 

11.1.10 Party A has the right to supervise the
account of Party B and entrust other institutions of China Merchants Bank other than Party A to supervise the account of Party B, and
control the payment of loan funds according to the loan purpose and payment scope agreed by both parties;

 

11.1.11 When Party A finds that any circumstance
specified in Article 10.2.6 of the Contract exists in Party B, Party A has the right to require Party B to implement the guarantee measures
for safe repayment of loan principal and interest and all related expenses under the Contract in accordance with Party A’s requirements,
and also has the right to directly take one or more breach relief measures agreed in the “Event of default and handling” clause
herein;

 

11.1.12 Party A’s other rights under this Contract.

 

11.2 Party A shall undertake the following obligations:

 

11.2.1 Issue loan to Party B according to the conditions specified
in the Contract;

 

11.2.2 Keep the financial, production and operation
conditions of Party B confidential, except otherwise stipulated by laws and regulations, required by regulatory agencies, or provided
to Party A’s superior or subordinate agencies, or professional institutions such as external audit, accountant or lawyer with equal confidentiality
obligations.

 

12. Party B guarantees the following matters in
particular

 

12.1 Party B is a legal entity formally established
and legally existing according to Chinese laws. The registration and annual report announcement procedures are true, lawful and valid
and have sufficient civil capacity to sign and perform the Contract;

 

12.2 The signing and performance of the Contract
has been fully and effectively authorized by the Board of Directors or any other authority. The Contract shall be legally and effectively
binding on Party B from the date of signing.

 

12.3 The loan project and its settlement shall
meet the requirements of laws and regulations, and the loan shall not be used for fixed assets, equity and other investments; or be used
to buy and sell valued securities, futures and real estate; or for borrow from each other for illicit income; or in the fields and purposes
with production and operation items prohibited by the State; or for any purpose other than those specified in the Contract;

 

12.4 Where the borrower pays the loan fund independently,
Party B shall report the loan fund payment to Party A periodically (at least monthly), and Party A has the right to check whether the
loan payment conforms to the agreed purpose by means of account analysis, voucher inspection and site investigation;

 

12.5 With the consent of Party A, if Party B needs
to use online banking for loan payment, Party B has the obligation to accept the restrictive measures made by Party A to online banking,
including preset payment object list, single payment limit and stage payment limit;

 

    9

     

    

 

12.6 The documents, materials and vouchers provided
by Party B concerning Party B, the guarantor, the mortgaged (pledgor) person and the mortgaged (pledged) property are true, accurate,
complete and valid, and do not contain material errors or omit any material facts inconsistent with the facts;

 

12.7 At the time of signing the Contract, no lawsuit,
arbitration or criminal or administrative penalty will occur to Party B or Party B’s main property, and no such lawsuit, arbitration or
criminal or administrative penalty will occur during the execution of the Contract. In case of occurrence, Party B shall notify Party
A immediately;

 

12.8 In its business activities, it shall strictly
abide by various laws and regulations of the State, carry out various businesses in strict accordance with the business scope specified
in Party B’s Business License, and timely handle the formalities of enterprise (legal person) registration, annual report and extension/extension
of business term, etc.;

 

12.9 Maintain or improve the existing operation
and management level, ensure the hedge and increase of the value of the existing assets, do not give up any expired creditor’s rights,
and do not dispose of the existing main property without compensation or in other improper means;

 

12.10 Party B guarantees that there is no performance
under the loan within foreign guarantee. In the case of such a situation, Party B shall notify Party A in time, and Party A has the right
to suspend signing of a new contract for loan under the foreign guarantee or handle a new withdrawal; Party B guarantees that in the case
of security performance, the sum of the outstanding principal balance and the external liabilities does not exceed the weighted balance
of cross-border financing risks of Party B, and the risks arising from the weighted balance of cross-border financing risks of Party B
shall be borne by Party B;

 

12.11 At the time of signing and performing this
contract, Party B does not have any major event affecting the performance of Party B’s obligations under this contract.

 

13. Withdrawal and utilization

 

13.1 The use of loan by Party B under the Contract
includes independent payment and entrusted payment.

 

13.1.1 Self-payment

 

Independent payment means that after Party A releases
the loan funds to Party B’s account according to Party B’s withdrawal application, Party B shall independently pay to Party B’s counterparty.
For the purpose agreed herein.

 

13.1.2 Trusted payment

 

Entrusted payment means that Party A pays the
loan funds to Party B’s counterparty, through Party B’s account according to Party B’s withdrawal application and payment entrustment.

 

13.1.3 In the following cases, Party B shall adopt
the entrusted payment method in full and unconditionally:

 

13.1.3.1 The single withdrawal of Party B exceeds
RMB 10 million yuan (including, or equivalent to foreign currency);

 

13.1.3.2 Party A requires Party B to take the entrusted payment method
according to the regulatory requirements or the need of risk management and control.

 

13.1.4 In the case of entrusted payment, the external
payment after the loan is issued shall be approved by Party A before the external payment. Party B shall not evade the supervision of
Party A through online banking, cheque withdrawal to other bank, neatening to zero, etc..

 

    10

     

    

 

13.2 Party B shall submit the withdrawal application
(which can be affixed with the official seal of Party B or the reserved seal of Party B in Party A), loan statement and materials required
by Party A according to different requirements of independent payment and entrusted payment. Otherwise, Party A has the right to reject
Party B’s application for withdrawal. If Party B provides inaccurate and incomplete payment information, resulting in delay or failure
of fund payment, and Party B’s breach of contract with its counterparty or other losses, Party A shall not be liable.

 

13.3 If Party A agrees to issue the loan after
receiving the above-mentioned documents, the actual amount, start and end date, purpose and interest rate of each loan/withdrawal shall
be subject to the records of the loan certificate (or Party A’s system), and the unspecified contents shall be subject to the stipulations
of the Contract.

 

For loan funds by entrusted payment method, Party
B authorizes Party A to pay Party B’s counterparty through Party B’s account on the day of issuing (or the next working day after).

 

14. Loan extension

 

If Party B is unable to repay the loan herein
on schedule and needs to handle loan extension, it shall submit a written application to Party A one month before the expiration of the
Contract. If Party A agrees to extend the term upon review, Party A and Party B shall sign an extension agreement separately. If Party
A disagrees with the extension, the Contract shall remain valid. The loan and interest payable already enjoyed by Party B shall be reimbursed
in accordance with the Contract.

 

15. Costs

 

☐ 15.1
Where the Contract involves Party B to purchase accidental insurance with Party B as the first beneficiary, relevant insurance expenses
shall be borne in the following manner. (Tick “☐”
to indicate the provisions applicable)

 

Please tick
“☐” to select:

 

☐ Undertaken
by Party A.

 

☐ Party
A and Party B shall jointly undertake per the following proportions: Party A _/ % B, Party B / %.

 

☐ 15.2
In case the Contract involves the enforcement of notarization fee (except the fee for applying for issuing the enforcement certificate),
the following fees shall be borne (tick “☐”
to indicate the provisions applicable).

 

Please tick “” to select:

 

☐ Undertaken
by Party A.

 

☐ Party
A and Party B shall jointly undertake the following proportions: Party A _/ % B, Party B / %.

 

15.3 For other matters entrusted to third parties,
the relevant expenses shall be borne by the entrusting party. If both parties jointly act as principal, each party shall bear 50%.

 

In the case that Party B is unable to repay the
loan principal and interest and repay the payable expenses under the Contract on time, all expenses such as attorney’s fee, lawsuit fee,
travel expenses and application for issuance of enforcement certificate paid by Party A in order to realize the creditor’s right shall
be borne by Party B in full, and Party B authorizes Party A to directly deduct the expenses from its bank account. In the case of any
deficiency, Party B shall guarantee to repay the amount after receiving the notice of Party A, and Party A shall not be required to provide
any proof.

 

    11

     

    

 

16. Event of default and handling

 

16.1 Event of default shall be deemed to have occurred under any of
the following circumstances:

 

16.1.1 The special warranty of Party B under the Contract is untrue
and incomplete, or Party B violates the special warranty and fails to correct it immediately as required by Party A;

 

16.1.2 Party B fails to draw and use the loan
in accordance with the provisions of the Contract, or fails to repay the loan principal, interest and expenses in full and on time herein,
or Party B fails to provide the inflow into the account as required by Party A, or fails to accept the supervision of Party A, and fails
to immediately correct the loan upon requirement by Party A;

 

16.1.3 Party B incurs a material breach of contract
under a legally valid contract with other creditors of Party B and that fails to be satisfactorily resolved within three months from the
date of the breach.

 

The aforesaid material breach of contract means
that Party B’s breach of contract causes its creditors to have the right to claim more than RMB 1 million.

 

16.1.4 Party B violates the stipulations of the
Contract and other obligations, or Party A reasonably judges that the credit status of Party B decreases or other circumstances may affect
the realization of Party A’s debts.

 

16.1.5 Party B adopts “neatening to zero”
to avoid Party B’s entrusting Party A to pay the external fund according to the requirements of the Contract;

 

16.1.6 If Party B is a new three-board listing
enterprise or intends to apply for the new three-board listing, the new three-board listing of Party B encounters significant obstacles
or the listing application is suspended; Party B has been issued warning letter by the new third board market, ordered to correct, restricted
securities account transactions and other self-regulatory measures for a total of more than 3 times, or taken disciplinary action, terminated
listing or other circumstances;

 

16.1.7 When Party B as the supplier of the government
procurement unit, which brought risks to Party A’s credit authorization, such as continuous or accumulated three-phase delayed payment,
or Party B is disqualified from supply (entering the black list of government procurement), or Party B supplies untimely, deliveries unstable
product quality, in difficult operation, in worsening financial situation (insolvent), the project is suspended, etc.

 

16.1.8 Party B’s financial indicators fail to
continuously meet the requirements stipulated in the Contract, or any precondition (if any) for Party A to provide loan/financing to Party
B as agreed in the Contract consistently.

 

16.1.9 Party B’s business activities may bring
anti-money laundering or sanctions risks to Party A.

 

16.1.10 Party B suffers from any other circumstances
that Party A deems harmful to its lawful rights and interests.

 

16.2 If any of the following circumstances occurs
to the Guarantor, Party A considers that it may affect the guaranty ability of the Guarantor, and requires the Guarantor to exclude the
adverse effects caused therefrom, or requires Party B to add or replace the guarantee conditions, and if the Guarantor and Party B do
not cooperate, the event of default shall be deemed to have occurred:

 

16.2.1 Party B fails to obtain the consent of Party A in case of any
of the circumstances described in Article 10.2.6 of the Contract or the circumstances described in Article 10.2.8;

 

16.2.2 The irrevocable guarantee is issued with
concealing the actual ability to bear the guarantee liability, or without the authorization of the competent authority;

 

    12

     

    

 

16.2.3 Fails to handle the formalities of registration,
annual report of the enterprise and extension/extension of the business term on time;

 

16.2.4 Dereliction of administration and recovery
of claims due or disposal of existing principal property free of charge or other improper means.

 

16.2.5 In breach of any of its obligations, undertakings
or representations in the irrevocable guarantee signed.

 

16.3 If any of the following occurs to the mortgagor
(or pledgor), Party A considers that the mortgage (or pledge) is not established or the mortgaged property (or pledge) is insufficient.
If the mortgagor (or pledgor) is required to exclude the adverse effects caused by this, or Party B is required to add or replace the
guarantee conditions, and the mortgagor (or pledgor) and Party B do not cooperate, the breach of contract shall be deemed to have occurred.

 

16.3.1 There is no ownership or disposition of
the collateral (or pledge), or the ownership is in dispute;

 

16.3.2 The mortgage (or pledge) fails to be completed
the mortgage/pledge registration formalities, or has been leased, established residence right, sealed up, retained, supervised, existing
shared/statutory prior priority (including but not limited to the priority of construction project payment and chattel price mortgage),
established seller ownership retention priority, lessor financial lease priority, and/or conceals the occurrence of such circumstances;

 

16.3.3 The Mortgagor, without the written consent
of Party A, transfers, leases, establishes the right of residence, re-mortgages or disposes of the mortgaged property in any improper
way or establishes any form of right burden, or the mortgaged property, with the written consent of Party A, is not used to repay the
debts owed by Party B to Party A as required by Party A;

 

16.3.4 The mortgagor fails to properly keep, maintain
and repair the mortgaged property, resulting in obvious depreciation of the value of the mortgaged property; Or the behavior of the mortgagor
directly endangers the mortgaged property, resulting in a decrease in the value of the mortgaged property; Or the Mortgagor fails to insure/renew
the mortgaged property as required by Party A during the mortgage period;

 

16.3.5 The mortgagor fails to immediately inform
Party A of the occurrence or possible occurrence of the risk of expropriation and demolition of the mortgaged property, and performs relevant
obligations as agreed in the mortgage contract;

 

16.3.6. Where the mortgagor provides the residual
value mortgage guarantee for the business under the Contract with the mortgage property of China Merchants Bank, the mortgagor settles
the individual mortgage loan in advance without the consent of Party A before Party B repay the debt under the Contract;

 

16.3.7 When the pledgor pledges the financial
product, the financial product subscription fund source is illegal/compliant;

 

16.3.8 The occurrence or possible occurrence of
mortgaged (pledged) property affects the value of mortgaged (pledged) property or Party A’s mortgage (pledged) right, etc.

 

16.3.9 The Mortgagor (or Pledger) breaches of
any of its obligations, undertakings or representations under the Mortgage Contract/Pledging Contract signed by it.

 

16.4 When the guarantee under the Contract includes
the pledge of accounts receivable, if the accounts receivable debtor suffers from obvious deterioration of operation, transfer of property/withdrawal
of funds to avoid debts, collusion with the pledgor of accounts receivable to change the capital inflow path, resulting in the failure
of accounts receivable to enter the special inflow account, loss of commercial reputation, loss of or possible loss of performance capacity
or other major matters affecting its ability to repay debts, Party A has the right to require Party B to provide corresponding guarantee
or provide new effective accounts receivable for pledge; If Party B fails to provide it, the event of default shall be deemed to have
occurred.

 

    13

     

    

 

16.5 In the event of any of the above-mentioned
Events of Default, Party A has the right to take the following measures at the same time or separately:

 

16.5.1. Change the entrusted payment conditions
of the loan fund and cancel Party B’s use of the loan by means of “independent payment”;

 

16.5.2 Stop issuing loans not yet used by Party
B;

 

16.5.3 Recover the loan principal and interest
and related expenses issued in advance;

 

16.5.4. Directly freeze/deduct the deposits in
the settlement account or other accounts of Party B, and entrust other institutions of China Merchants Bank to freeze/deduct the deposits
of Party B in such institutions to pay off all the debts of Party B under the Contract, stop opening new settlement accounts for Party
B, and stop handling new credit cards of Party B’s legal representative;

 

16.5.5 Submit the information of Party B’s breach
of contract and discredit to the credit reference institution and banking associations, and shall have the right to share such information
among banking institutions by appropriate means and even publicize it to the society;

 

16.5.6 Dispose of the collateral and/or recover
from the guarantor in accordance with the provisions of the guarantee document;

 

16.5.7 Party A may also directly request Party
B to provide other property acceptable as a new guarantee, if Party B fails to provide a new guarantee as required, Party B shall bear
penalty equal to 30.0% of the loan amount under the Contract.

 

16.5.8 Recourse in accordance with this Contract.

 

16.6 For the funds obtained by Party A through
recovery, the payment shall be made in the order of expenses, penalty, compound interest, penalty interest, interest, and final loan principal,
until all principal and interest and all related expenses are paid off.

 

For loans issued in installments, the funds obtained
by recourse shall be repaid in descending order of the maturity date of the loan, and the specific principal and interest, liquidated
damages and expenses of each loan period shall be repaid in descending order of the maturity date of the loan.

 

Party A has the right to adjust the above-mentioned repayment sequence
unilaterally, unless otherwise required by laws and regulations.

 

17. Alteration and termination of the contract

 

The Contract may be modified and rescinded by
the written agreement reached by both parties through negotiation. The Contract shall remain valid until the written agreement is reached.
Neither party may unilaterally modify, or rescind the Contract.

 

    14

     

    

 

18. Miscellaneous

 

18.1 Changes in situation and force mjeure

 

18.1.1 If Party A’s loan behavior under the Contract
becomes illegal due to changes in applicable laws or policies, Party A has the right to terminate the Contract and declare all loans issued
to mature ahead of time, and Party B shall repay them immediately as required by Party A.

 

18.1.2 In the case of any change in the requirements
of applicable laws and policies, which results in additional costs for Party A to perform the loan obligations hereunder, Party B shall
compensate the additional costs incurred by Party A according to the requirements of Party A.

 

18.1.3 In the course of performing the Contract,
if one or both parties encounter force majeure, the party suffering force majeure shall not be liable for compensation for the loss suffered
by the other party, but shall have the obligation to notify the other party in time and take reasonable measures to prevent the loss from
expanding; otherwise, the party shall be liable to the other party for compensation for the expanded loss.

 

18.2 Reservations of rights

 

During the effective period of the Contract, Party
A shall not give any tolerance, grace or delay to any breach or delay of Party B, and shall not prejudice, affect or restrict all rights
and interests of Party A as creditors in accordance with the Contract and relevant laws, and shall not permit or accept any breach of
the Contract by Party A, and shall not be deemed as waiver of Party A’s right to act on existing or future breach of the Contract.

 

18.3 Notification

 

The notices, requirements or other documents of
Party A and Party B related to the Contract shall be sent in writing (including but not limited to letters, faxes, e-mails, electronic
platforms such as China Merchants Bank Enterprise Online Banking/Enterprise App, mobile phone short messages or WeChat). Party B shall
confirm the address and service of documents as follows:

 

18.3.1 Party B confirms and agrees to take Party
B’s China Merchants Bank Enterprise Online Banking/Enterprise App and Party B’s contact address, e-mail, fax number, mobile phone number
or WeChat specified in the Contract as the service address of all commercial and legal documents of Party B under the Contract.

 

Commercial documents referred to in this Article
refer to various commercial documents such as business notice, confirmation, notice of breach of contract, notice of advance maturity,
and overdue reminder during the business transaction hereunder; the legal instruments mentioned in this Article including notarial instruments
and judicial instruments (including but not limited to the judicial instruments at the trial and execution stage, such as the statement
of indictment/arbitration application, the statement of appeal, the reply, the evidence, the summons, the notice of appearance, the notice
of proof, the notice of hearing, the notice of hearing, the judgment/award, the written order, the mediation agreement, and the notice
of performance within a time limit).

 

Party A, the respondent court and the notary office
shall be deemed to have been effectively served at the service address agreed in the preceding paragraph by the service method agreed
herein.

 

18.3.2 Party B confirms and agrees that delivery
by hand (including but not limited to delivery by lawyer/notary public, express delivery, etc.) shall be deemed as delivery by signature
of the receiving party (in case of rejection by the receiving party, it shall be deemed as delivery on the date of rejection/return or
seven days after the date of mailing, whichever is earlier); If it is delivered by postal letter, it shall be deemed to be served seven
days after it is sent; In case of electronic delivery by fax, email, CMB Enterprise Online Banking/Enterprise APP (i.e. delivery to CMB
Enterprise Online Banking/Enterprise APP through CMB Enterprise Online Banking/Enterprise APP), mobile phone SMS or WeChat, the date shall
be determined by displayed date of successful delivery the Party A’s corresponding system/electronic device. Where Party A notifies Party
B of the transfer of creditor’s rights by means of announcement in the public media or urges Party B for repayment, it shall be deemed
to be served on the date of announcement.

 

    15

     

    

 

18.3.3 If Party B changes the contact address,
e-mail address, fax number or mobile phone number or WeChat, Party B shall notify Party A in writing of the changed information within
five working days from the date of change, otherwise Party A has the right to deliver the information according to the original contact
address or information of Party B. If Party B fails to successfully deliver the contact address or information change, the date of delivery
shall be deemed as 7 days after return or the date of delivery (whichever is earlier). Party B shall bear the possible losses arising
therefrom, which shall not affect the legal effect of service.

 

18.3.4 Party B further agrees that the court may
serve judicial documents on Party B through electronic means such as the China Trial Process Information Publication Network and the national
uniform service platform; If the aforesaid mentioned way of service is adopted, the date on which the judicial documents are successfully
sent shall be deemed as the service date indicated by the China Trial Process Information Publication Network and the national unified
service platform; Where the court completes the service of judicial documents by electronic service, it is not necessary to serve the
paper judicial documents at the contact address of Party B.

 

18.3.5 The service address and service method
agreed in this Article shall be applicable to the period of contract performance, dispute settlement, arbitration, court trial (first
instance, second instance and retrial) and execution.

 

18.4 The withdrawal application, loan receipt,
business information recorded by Party A system and the written supplementary agreement reached by Party A and Party B through negotiation
on matters not covered herein and changes herein shall constitute an integral part of the Contract.

 

18.5 In order to facilitate business handling,
all operations (including but not limited to application acceptance, data review, lending, transaction confirmation, deduction, inquiry,
receipt printing, collection, payment deduction, etc.) involving transactions of Party A may be handled by any branch within the jurisdiction
of Party A, and relevant letters may be generated, issued or issued. The business operations and letters of the branch within the jurisdiction
of Party A shall be deemed as Party A’s acts and shall be binding on Party B.

 

18.6 Other agreements:

 

The loan under the Contract shall be lump-sum loan according to the
loan notice issued by Shenzhen Medium and Small Enterprises Financing Guarantee Co., Ltd.

 

19. Applicable law and dispute resolution

 

19.1 The conclusion, interpretation and settlement
of the Contract shall be governed by the laws of the People’s Republic of China (excluding the laws of Hong Kong, Macao and Taiwan), and
the rights and interests of Party A and Party B shall be guaranteed by the laws of the People’s Republic of China.

 

19.1
If the dispute between Party A and Party B during the performance of the Contract cannot be settled through negotiation, either party
shall (please tick in “☐”
in one of the three):

 

þ19.2.1
To bring a lawsuit to the people’s court with jurisdiction where Party A is located;

 

☐ 19.2.2
Shall file a lawsuit with the people’s court having jurisdiction over the place where the contract is signed, and the place where the
contract is signed is /;

 

    16

     

    

 

☐ 19.2.3
Apply to/(fill in the specific name of the arbitration instrument) for arbitration in accordance with the prevailing arbitration rules,
with the arbitration place located at _/.

 

19.3 After Party A and Party B have handled the
notarization giving enforcement effect to the Contract, Party A may directly apply to the competent people’s court for compulsory enforcement,
so as to recover the debts due under the Contract.

 

20. Contract effectiveness

 

The Contract shall come into force after being
signed by the legal representative (person in charge) or authorized agent of both parties (or stamped) and affixed with the official seal
of the unit/contract special seal, and shall automatically become invalid until the date when all loan principal and interest and other
related expenses under the Contract are paid off.

 

21. Annex

 

The Contract is made in quadruplicate, each of
the same legal effect, with Party A, Party B and each guarantor each holding one copy.

 

Party B declares that:

 

All terms of this contract are reached after fully
negotiation by both parties. Party A has brought to the special attention of Party B the clauses related to the exemption or reduction
of Party A’s responsibilities and other significant interests of Party B, and made corresponding explanations on the above clauses at
the request of Party B. Party B has fully and accurately understood it. The parties hereto shall have the same understanding of the terms
of the Contract.

 

(No text below)

 

    17

     

    

 

(The following is the signature column of the Loan Contract No. 755HT2021169271)

 

Party A: China Merchants Bank Co., Ltd. Shenzhen Branch (Sealed with
special seal for contract)

 

Legal representative/responsible person or authorized agent (signature/signature
seal): Yue Ying (sealed)

 

Contact address: CMB Shenzhen Branch Building, 2016 Shennan Avenue,
Futian District, Shenzhen. 

 

755923831810101

 

The official seal has been verified: Deng Kaidan

 

 

Party B: Shenzhen VLG Wireless Technology Co., Ltd. (sealed)

 

Legal representative/responsible person or authorized agent (signature/signature
seal): Bai Guiqing (sealed)

 

Contact Address: 3/F&4/F, Building 1, Haoyee Industrial Park,
Tiegang Road, Xixiang Sub-district, Bao’an District, Shenzhen, Guangdong Province

 

Email address: _/

 

Fax No.: _/

 

Contact number: 13530081875

 

WeChat: _/

 

Date: September 23, 2021

 

    18

     

    

 

China Merchant Bank

 

Loan
Certificate

 

Contract Number: Lending Date: 

	
    Name of Borrower:
	 	Account number	 
	Loan amount:	 	In figures	
     

     

	
    Business due date:

     
	 	Interest rate	þFixed rate	☐ Floating
    rate: Floating period:☐ M/☐D
	
    Based
    on the one-year loan market quotation rate as published by the National Inter-Bank Offer Rate Center on the working day before the pricing
    date. ☐ floating up/☐ down
    %, or þadding/☐ subtracting
    basis points. 

    ☐ One-off
Interest Collection (Collect Before/After) ☐ Interest
Settlement by Month ☐  Interest
Settlement by Quarter ☐ Annual
Interest Settlement ☐ Interest
Settlement by Single Amounts

	
     

    It is hereby confirmed that the above amount
has been issued by the bank; the use, repayment or abnormality of the fund borrowed shall be handled in accordance with the relevant
business agreement. Shenzhen VLG Wireless Technology Co., Ltd., Special seal for finance (sealed) Bai Guiqing (sealed)

     

	 	 	 	 	 	 

 

    19

     

    

 

Dear Customer, In order to safeguard the Bank
rights and interests, please read the full contract carefully before signing, especially the blackened and bold clauses. If there is any
doubt, please inquire. Or the Bank may further consult the Bank lawyer and relevant professionals. 

 

Loan Contract

 

No.: 755HT2021169271

 

☐ This
contract is the specific contract under Credit Agreement numbered / ,(If this clause applies, tick “☐”)

 

Lender: China Merchants Bank Co., Ltd., Shenzhen Branch (Hereinafter
referred to as “Party A”)

 

Borrower: Shenzhen VLG Wireless Technology Co., Ltd. (Hereinafter
referred to as “Party B”)

 

Party B applies to Party A for loan, and Party
A agrees to issue the loan upon review. Party A and Party B hereby concluded the Contract based on the following clauses through thorough
consultation in accordance with relevant laws and regulations.

 

1. Currency and amount of loan

 

RMB (in words) Five Million Yuan only.

 

2. Purpose of the loan

 

This loan is a working capital loan and can only
be used for payment of goods. Without the written consent of Party A, Party B shall not divert for other purposes.

 

3. Term of loan

 

For a period of 12 months, counting from
the actual loan issuing date, subject to the loan certificate (or Party A’s system record). 

 

During the term of the loan, Party A may issue
the loan by installments according to the actual usage of the loan by Party B, and the specific loan amount and start/end date of each
period shall follow the loan certificate (or Party A’s system record). 

 

þDuring
the loan term, Party A has the right to require Party B to repay the loan in installments in accordance with the following plan (if the
following terms are selected, tick “☐”):

 

For the loan principal under the Contract,
Party B shall repay One Hundred and Fifty Thousand Yuan Only on the 21st of each month from the month following the loan issuance date,
and the balance shall be settled at one time on the expiry date of the loan term under the Contract;

 

/

 

☐ Party
B shall repay all loan principal at a lump sum on the loan maturity date. (If this clause is used, tick “☐”)

 

4. Account information

 

☐ 4.1
Loan-specific account (Tick “☐”
to indicate that the provisions of this article apply)

 

    20

     

    

 

The issuance and external payment of all loan funds under the Contract
shall be handled through the following accounts.

 

Account name:/

 

Account No.:/

 

Bank:/

 

4.2. Fund receiving account

 

4.2.1 Party A and Party B agree to designate the
following account as Party B’s fund receiving account:

 

Account name: Shenzhen VLG Wireless Technology
Co., Ltd.

 

Account No.: 755923831810101

 

Bank: China Merchants Bank Co., Ltd., Shenzhen
Venture Branch

 

4.2.2 The account monitoring requirements are
as follows: _/

 

Party A has the right to withdraw the loan in
advance according to Party B’s fund receiving, that is, when capital flow into the account, the corresponding amount of loan can be considered
as due in advance, and Party A has the right to directly deduct from the account to repay the loan.

 

4.2.3 Party B shall provide the above-mentioned
account in-flow and out-flow information on a quarterly basis, and cooperate with Party A to monitor relevant accounts and receiving funds.

 

5. Loan rate and interest

 

5.1 Interest rate:

 

5.1.1 The
loan adopts (tick “☐”
if applicable):

 

þFixed
rate☐ Floating
rate

 

5.1.2 Determination
of interest rate during the contract period (tick “☐”
if applicable):

 

5.1.2.1
In the case of issuing RMB loan, the quotation rate (LPR) in the loan market of one year or above published by the National Inter-Bank
Offer Rate Center for þ1-year/☐ 5-yaear
above loan on working day before the pricing date shall be taken as the benchmark interest rate, þplus/minus
50.00 basic points (BPs) or/as the benchmark interest rate.

 

The floating ratio (hereinafter referred to as
“floating ratio”) or plus or minus basic point (hereinafter referred to as “basic point”) agreed herein on the
basis of the benchmark interest rate refers to that determined at the time of signing of the Contract. If the floating ratio or basic
point (BPs) and other interest rate elements agreed herein are inconsistent with the records of the loan certificate (or Party A’s system
record), the records of the loan certificate (or Party A’s system record) shall prevail.

 

5.1.2.2
In the case of foreign currency loan, the benchmark interest rate shall base on the pricing date or the first or second working day prior
to the pricing day for the same currency loaned for ☐  /
month/☐  / day, ☐ 
/ plus/☐  /
minus/basic point (BPs). Party A shall determine the interest rate based on international practices.

 

5.1.2.3 Pricing date refers to the reference date
used to determine the benchmark interest rate during the loan period or floating period. If the fixed interest rate is adopted for the
loan, the pricing date shall be the actual issuing date of the loan; when the floating interest rate is adopted for the loan, the pricing
date shall be determined in accordance with Article 5.1.3.

 

    21

     

    

 

5.1.3 In the case of this loan, the floating rate
shall be a floating period of / month / day, and the base rate applicable during each floating period shall be determined
in accordance with the provisions of this Article.

 

The actual loan issue date is the pricing date
of the first floating period, and the first day of each floating period thereafter is the pricing date of the floating period.

 

5.1.4 Party A has the right to adjust the benchmark
interest rate or interest rate pricing method periodically or irregularly according to the changes in relevant national policies, domestic
and foreign market changes or changes in Party A’s own credit policies. Such adjustment shall come into force after Party A notifies Party
B (the notice shall be released at Party A’s outlet or on the official website of China Merchants Bank, or shall be sent to Party B per
any contact address/method specified herein). The relevant loan newly regarding the withdrawal by Party B and the specific benchmark interest
rate, floating ratio and/or basic point of the loan which has been withdrawn by Party B and has not been repaid before the notice takes
effect shall be executed according to the notice of Party A. If Party B does not accept the adjustment, the loan may be repaid in advance;
otherwise, it shall be deemed as approved and executed according to the notice.

 

In the case of any inconsistency between this
Clause and other relevant parts of this Contract, the provisions of this Clause shall prevail.

 

5.1.5 If Party B fails to use the loan in accordance
with the contract, for the loan part not for intended use, the penalty interest shall be charged 100% over the original rate from the
date of change of use. The original rate means the rate applicable before the loan is repurposed.

 

Where Party B fails to repay the loan on schedule,
the overdue interest (i.e. penalty interest) shall be charged on the basis of 50% (overdue loan interest rate) of the original interest
rate as of the overdue date. The original rate means the rate applicable before the maturity date of the loan (including the advance maturity
date) (or, in the case of a floating rate, the last floating period before the maturity date of the loan (including the advance maturity
date)).

 

If the loan is overdue and not used in accordance
with the contracted purpose, interest shall be calculated according to the higher of the above provisions.

 

5.1.6 If the People’s Bank of China adjusts the
loan interest rate during the loan period, the relevant regulations of the People’s Bank of China shall be followed.

 

5.1.7 Unless otherwise specified, the loan interest
rate hereunder shall be calculated by the simple interest method.

 

5.2 Interest calculation: The interest of the
loan shall be calculated according to the actual loan amount and actual occupation days from the date of the loan entering into Party
B’s account, and the interest calculation date shall be 20 days per month. The daily interest rate of RMB is equal to annual interest
rate dividing 360, and the conversion method of daily interest rate of foreign currency shall be implemented in accordance with international
practices.

 

If the maturity date of the loan is on a holiday,
the loan shall be automatically postponed until the first following working day, and the interest shall be calculated according to the
actual days occupied by the loan fund.

 

    22

     

    

 

5.3 Interest Payment

 

5.3.1 (Please
tick “☐”
for the applicable terms):

 

þ Party
B shall pay interest on each interest day, and Party A may directly deduct interest payable from any of Party B’s account of China
Merchants Bank.

 

☐  Party
B shall pay all interest on the loan at one time on the maturity date of the loan, and Party A may directly deduct from any of Party B’s
account of China Merchants Bank.

 

5.3.2 If the last repayment date of the loan principal
is not the interest-bearing date, the last repayment date of the loan principal is the interest-paying date on which the Borrower shall
pay all interest payable on the loan principal. If Party B fails to pay interest on time, Party B shall calculate compound interest on
unpaid interest (including penalty interest) according to the overdue interest rate specified herein.

 

6. Prepayment

 

6.1 Where Party B applies for prepayment, it shall
submit a written application to Party A 7 working days before the planned prepayment date, and pay the penalty for prepayment to Party
A (except that Party B is a national standard small and micro enterprise). Prepayment penalty = prepayment amount * proportion of penalty
damages. The specific proportion of penalty shall be determined by Party A according to the loan term and loan aging (i.e. the actual
duration of the loan) agreed herein. After Party A approves Party B’s application for early repayment and notifies Party B in writing
of the specific proportion of penalty, Party B shall pay Party A full amount of penalty for early repayment within the time required by
Party A; otherwise Party A has the right to refuse Party B’s application for prepayment. Party A has the right but not the obligation
to appropriately reduce the amount of penalty for Party B’s prepayment according to such factors as the remaining term of the loan at
the time of prepayment.

 

6.2 Party B shall repay the loan in advance, and
the interest rate shall still be calculated according to the stipulations of the Contract, and the interest payable shall be calculated
according to the actual loan term.

 

7.
Party B shall select (tick “☐”
according to the actual situation) as required by Party A:

 

☐ Insure
its core assets and designate Party A as the first beneficiary in order;

 

☐ Party
B shall not sell or mortgage the assets designated by Party A before the loan is settled;

 

☐ Limit
the dividend of its shareholders according to the requirements of Party A before the loan is settled as follows:

 

/

 

Party B shall ensure that all financial indexes
of Party B during the loan period are not lower than the following requirements:

 

/

 

8. Security clause

 

8.1 All debts owed by Party B to Party A under
the Contract shall be provided by Party B or a third party approved by Party A with property pledge guarantee or joint and several guarantee,
and Party B or a third party as guarantor shall issue or sign a separate guarantee document as required by Party A.

 

8.2 If the Contract is a specific contract under
the Credit Agreement, the liabilities under the Contract shall be automatically included in the guarantee scope of the guarantor who has
signed the maximum amount mortgage/pledge contract with Party A or issued the maximum amount irrevocable guarantee to Party A.

 

    23

     

    

 

8.3 In the case that the Guarantor provides real
estate mortgage guarantee for all debts owed by Party B to Party A under the Contract, if Party B is aware that the mortgaged property
has been or may be included in the government demolition and collection plan, Party B shall immediately notify Party A, and urge the Mortgagor
to continue to provide guarantee for Party B’s debts with the compensation products provided by the demolition party in accordance with
relevant stipulations in the mortgage contract and complete corresponding guarantee formalities in time, or provide other guarantee measures
required and recognized by Party A.

 

8.4 If the Guarantor fails to sign the guarantee
agreement and complete the guarantee formalities (including the A/R debtor defence against the A/R before the A/R pledge), Party A has
the right to refuse to issue the loan to Party B.

 

9. Loan prerequisites

 

The granting of the loan under this contract (including
each loan separately granted) shall be based on the condition that Party B meets the following conditions. Party A has the right to refuse
to issue loan if Party B fails to comply with the following:

 

9.1 Party B provides relevant materials according
to the requirements of the Contract;

 

9.2 Party B shall cooperate with Party A’s supervision
and inspection according to the requirements of the Contract;

 

9.3 For the loan issued, Party B has fulfilled
the obligation of repayment in full and on time;

 

9.4 Party B does not have any event of default
specified in the Contract;

 

9.5 Party B does not violate other provisions
of the Contract.

 

The loan precondition is established to protect
the rights and interests of Party A, and Party A has the right to unilaterally lower the requirements on the loan precondition.

 

10. Rights and obligations of Party B

 

10.1 Party B shall enjoy the following rights:

 

10.1.1 Has the right to draw and use all loans
as agreed herein;

 

10.1.2 Has the right to require Party A to keep
confidential the production, operation, property and account provided by Party B, unless otherwise specified herein;

 

10.1.3 Shall have the right to transfer debts
to a third party after obtaining the written consent of Party A.

 

10.2 Party B shall undertake the following obligations:

 

10.2.1 It shall truthfully provide the documents
and materials required by Party A (including but not limited to providing the true financial account books/statements and annual financial
reports, major decisions and changes in production, operation and management, fund withdrawal/spending materials and materials related
to collateral according to the period required by Party A), the financing situation of Party B in other financial institutions and the
non-governmental financing situations (including the financing obtained by Party B at the time of signing the Contract and the financing
being applied for), as well as all the opening banks, account numbers and the balance of deposit and loan, so as to ensure the truthfulness,
accuracy and completeness of the provided materials, and cooperate with the investigation, review and inspection of Party A;

 

10.2.2 Party B shall accept Party A’s supervision over its use of credit
funds and related production, operation and financial activities, and timely take reasonable measures for Party A’s suggestions or requirements;

 

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The 10.2.3 Party B shall use the loan for the
purposes specified in the Contract and comply with the requirements of Party A on the payment management of loan funds;

 

10.2.4 Party B shall repay the loan principal,
interest and expenses in full and on time as agreed in the Contract;

 

10.2.5 When Party B transfers all or part of the
debts hereunder to a third party, Party A’s written consent shall be obtained;

 

10.2.6 In the case of any of the following circumstances,
Party B shall immediately notify Party A and cooperate with Party A to implement the guarantee measures for the full repayment of loan
principal and interest and all other expenses under the Contract as required by Party A:

 

10.2.6.1 Significant financial loss, asset loss
or other financial crisis;

 

10.2.6.2 To provide loans or guarantees for the
benefit of third parties or to protect third parties from loss, or to provide collateral (pledge) security against their own property
(rights) (or all property/rights of the actual controller or its affiliates);

 

10.2.6.3 The credit status decreases and the profitability
of the main business decreases;

 

10.2.6.4 In the case of suspension, revocation
or cancellation of business license, application or bankruptcy or dissolution, or change of important enterprise information, such as
change of enterprise name, registered address, business camp and beneficial owner; Or the controlling shareholder/actual controller of
the Borrower changes; Or the legal representative, director or important senior management of the Borrower has personnel changes, or the
freedom of such persons is restricted by the state authority due to violation of laws, discipline and other matters, or missing for more
than 7 days, which may affect the normal operation of the Borrower;

 

10.2.6.5 The operation or financial crisis of
its controlling shareholder, actual controller or other affiliated company affects its normal operation; Or its controlling shareholder/actual
controller abuses the independent status of the company as a legal person or limited liability of the shareholder, evades debts, stops
production, closes business, is cancelled or revoked business license, applying for or is applied for bankruptcy, dissolves, is punished
by the competent authority, constitutes a criminal offence, and involves a material legal dispute; Or the legal representative/principal
person in charge, director or important senior management of the controlling shareholder or other affiliated company or the actual controlling
person changes, or such persons are punished/restricted by the state authority for violation of laws and discipline, or are missing for
more than 7 days, which may affect its normal operation;

 

10.2.6.6 The major related transaction between
its controlling shareholders, other affiliated companies and actual controllers with amount more than 10% of Party B’s net assets (Party
B’s notice shall cover at least the affiliated relationship of all parties to the transaction, transaction items and nature, transaction
amount or corresponding proportion, pricing policy (including transactions with no amount or only symbolic amount), etc.);

 

10.2.6.7 Any lawsuit, arbitration or criminal or administrative penalty
that causes significant adverse consequences to its operation or property status;

 

10.2.6.8 Party B or its actual controller commits
large amount of non-governmental usury; Or bad credit records such as lending to pay old loan, overdue loan, interest overdue, etc. in
other bank; Or the internal capital chain of the affiliated enterprise of Party B fails, resulting in debt crisis; Or Party B’s project
stops, delays construction or in major investment errors;

 

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10.2.6.9 Other major events that may affect the
solvency of Party B and its controlling shareholders/actual controllers.

 

10.2.7 Party B shall not slack in the administration
and recovery of claims due or dispose of existing principal property free of charge or otherwise improperly.

 

10.2.8 Party B shall obtain the written consent
of Party A before undertaking major matters such as merger, division, reorganization, joint venture (cooperation), property right transfer,
joint stock system reform, foreign investment and debt financing increase.

 

10.2.9 Party B shall ensure that the settlement,
payment and other income and expenditure activities are mainly carried out in the bank settlement accounts opened by Party A. During the
loan period, the settlement transaction share of Party B in the designated account shall be at least not less than the financing share
of Party B in Party A.

 

10.2.10 In the case that Party B provides security
pledge, if the balance of the security account is less than 95% of the corresponding specific loan amount due to exchange rate fluctuation,
Party B is obliged to add security or other guarantees of corresponding amount as required by Party A.

 

11. Rights and obligations of Party A

 

11.1 Party A shall enjoy the following rights:

 

11.1.1 Party A has the right to require Party B to repay the loan principal,
interest and expenses in full as agreed term;

 

11.1.2 Party A has the right to request Party
B to provide information related to the loan;

 

11.1.3 Party A has the right to know Party B’s
production, operation and financial activities;

 

11.1.4 Party A has the right to supervise Party
B to use the loan for the purposes agreed in the Contract;

 

11.1.5 Party A shall have the right to supervise
the accounts opened by Party B in Party A and entrust other institutions of China Merchants Bank other than Party A to supervise the accounts
of Party B, and control the payment of loan funds according to the loan purpose and payment scope agreed by both parties; have the right
to unilaterally suspend or restrict other online functions of the enterprise online banking/enterprise APP/of Party B’s account directly
(including but not limited to closing other online functions of the enterprise online banking/enterprise App/, preset payment object list/single
payment limit/stage payment limit, etc.) and other electronic payment channels, restrict the sale of settlement vouchers, restrict the
counter payment and transfer of Party B’s account, and the payment and exchange functions of non-counter channels such as telephone bank
and mobile bank;

 

11.1.6 Party A has the right to directly deduct
money from the account opened by Party B in any institution of China Merchants Bank for repayment of the debts owed by Party B under the
Contract and each specific business document (if the credit debt is not in RMB, Party 11.1.6 has the right to directly purchase foreign
exchange or trade foreign exchange from any account of Party B according to the exchange rate announced at the time of deduction to repay
the credit principal, interest and expenses);

 

11.1.7 Party A shall have the right to transfer its creditor’s rights
to Party B, and have the right to notify Party B of the transfer matters by fax, mailing, special person service, public announcement
and the like, and to urge Party B to repay;

 

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11.1.5 In the buyer’s credit seller’s interest
repayment business and the seller’s credit buyer’s interest repayment business, Party A has the right to refuse to issue the loan to Party
B before receiving the Interest Payment Commitment Letter submitted by the Seller/Buyer;

 

11.1.9 Party A has the right to withdraw the loan in advance according
to Party B’s fund inflow;

 

11.1.10 Party A has the right to supervise the
account of Party B and entrust other institutions of China Merchants Bank other than Party A to supervise the account of Party B, and
control the payment of loan funds according to the loan purpose and payment scope agreed by both parties;

 

11.1.11 When Party A finds that any circumstance
specified in Article 10.2.6 of the Contract exists in Party B, Party A has the right to require Party B to implement the guarantee measures
for safe repayment of loan principal and interest and all related expenses under the Contract in accordance with Party A’s requirements,
and also has the right to directly take one or more breach relief measures agreed in the “Event of default and handling” clause
herein;

 

11.1.12 Party A’s other rights under this Contract.

 

11.2 Party A shall undertake the following obligations:

 

11.2.1 Issue loan to Party B according to the conditions specified
in the Contract;

 

11.2.2 Keep the financial, production and operation
conditions of Party B confidential, except otherwise stipulated by laws and regulations, required by regulatory agencies, or provided
to Party A’s superior or subordinate agencies, or professional institutions such as external audit, accountant or lawyer with equal confidentiality
obligations.

 

12. Party B guarantees the following matters in
particular

 

12.1 Party B is a legal entity formally established
and legally existing according to Chinese laws. The registration and annual report announcement procedures are true, lawful and valid
and have sufficient civil capacity to sign and perform the Contract;

 

12.2 The signing and performance of the Contract
has been fully and effectively authorized by the Board of Directors or any other authority. The Contract shall be legally and effectively
binding on Party B from the date of signing.

 

12.3 The loan project and its settlement shall
meet the requirements of laws and regulations, and the loan shall not be used for fixed assets, equity and other investments; or be used
to buy and sell valued securities, futures and real estate; or for borrow from each other for illicit income; or in the fields and purposes
with production and operation items prohibited by the State; or for any purpose other than those specified in the Contract;

 

12.4 Where the borrower pays the loan fund independently,
Party B shall report the loan fund payment to Party A periodically (at least monthly), and Party A has the right to check whether the
loan payment conforms to the agreed purpose by means of account analysis, voucher inspection and site investigation;

 

12.5 With the consent of Party A, if Party B needs
to use online banking for loan payment, Party B has the obligation to accept the restrictive measures made by Party A to online banking,
including preset payment object list, single payment limit and stage payment limit;

 

12.6 The documents, materials and vouchers provided
by Party B concerning Party B, the guarantor, the mortgaged (pledgor) person and the mortgaged (pledged) property are true, accurate,
complete and valid, and do not contain material errors or omit any material facts inconsistent with the facts;

 

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12.7 At the time of signing the Contract, no lawsuit,
arbitration or criminal or administrative penalty will occur to Party B or Party B’s main property, and no such lawsuit, arbitration or
criminal or administrative penalty will occur during the execution of the Contract. In case of occurrence, Party B shall notify Party
A immediately;

 

12.8 In its business activities, it shall strictly
abide by various laws and regulations of the State, carry out various businesses in strict accordance with the business scope specified
in Party B’s Business License, and timely handle the formalities of enterprise (legal person) registration, annual report and extension/extension
of business term, etc.;

 

12.9 Maintain or improve the existing operation
and management level, ensure the hedge and increase of the value of the existing assets, do not give up any expired creditor’s rights,
and do not dispose of the existing main property without compensation or in other improper means;

 

12.10 Party B guarantees that there is no performance
under the loan within foreign guarantee. In the case of such a situation, Party B shall notify Party A in time, and Party A has the right
to suspend signing of a new contract for loan under the foreign guarantee or handle a new withdrawal; Party B guarantees that in the case
of security performance, the sum of the outstanding principal balance and the external liabilities does not exceed the weighted balance
of cross-border financing risks of Party B, and the risks arising from the weighted balance of cross-border financing risks of Party B
shall be borne by Party B;

 

12.11 At the time of signing and performing this
contract, Party B does not have any major event affecting the performance of Party B’s obligations under this contract.

 

13. Withdrawal and utilization

 

13.1 The use of loan by Party B under the Contract
includes independent payment and entrusted payment.

 

13.1.1 Self-payment

 

Independent payment means that after Party A releases
the loan funds to Party B’s account according to Party B’s withdrawal application, Party B shall independently pay to Party B’s counterparty.
For the purpose agreed herein.

 

13.1.2 Trusted payment

 

Entrusted payment means that Party A pays the
loan funds to Party B’s counterparty, through Party B’s account according to Party B’s withdrawal application and payment entrustment.

 

13.1.3 In the following cases, Party B shall adopt
the entrusted payment method in full and unconditionally:

 

13.1.3.1 The single withdrawal of Party B exceeds
RMB 10 million yuan (including, or equivalent to foreign currency);

 

13.1.3.2 Party A requires Party B to take the entrusted payment method
according to the regulatory requirements or the need of risk management and control.

 

13.1.4 In the case of entrusted payment, the external
payment after the loan is issued shall be approved by Party A before the external payment. Party B shall not evade the supervision of
Party A through online banking, cheque withdrawal to other bank, neatening to zero, etc..

 

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13.2 Party B shall submit the withdrawal application
(which can be affixed with the official seal of Party B or the reserved seal of Party B in Party A), loan statement and materials required
by Party A according to different requirements of independent payment and entrusted payment. Otherwise, Party A has the right to reject
Party B’s application for withdrawal. If Party B provides inaccurate and incomplete payment information, resulting in delay or failure
of fund payment, and Party B’s breach of contract with its counterparty or other losses, Party A shall not be liable.

 

13.3 If Party A agrees to issue the loan after
receiving the above-mentioned documents, the actual amount, start and end date, purpose and interest rate of each loan/withdrawal shall
be subject to the records of the loan certificate (or Party A’s system), and the unspecified contents shall be subject to the stipulations
of the Contract.

 

For loan funds by entrusted payment method, Party
B authorizes Party A to pay Party B’s counterparty through Party B’s account on the day of issuing (or the next working day after).

 

14. Loan extension

 

If Party B is unable to repay the loan herein
on schedule and needs to handle loan extension, it shall submit a written application to Party A one month before the expiration of the
Contract. If Party A agrees to extend the term upon review, Party A and Party B shall sign an extension agreement separately. If Party
A disagrees with the extension, the Contract shall remain valid. The loan and interest payable already enjoyed by Party B shall be reimbursed
in accordance with the Contract.

 

15. Costs

 

☐ 15.1
Where the Contract involves Party B to purchase accidental insurance with Party B as the first beneficiary, relevant insurance expenses
shall be borne in the following manner. (Tick “☐”
to indicate the provisions applicable)

 

Please tick
“☐” to select:

 

☐ Undertaken
by Party A.

 

☐ Party
A and Party B shall jointly undertake per the following proportions: Party A _/ % B, Party B / %.

 

☐ 15.2
In case the Contract involves the enforcement of notarization fee (except the fee for applying for issuing the enforcement certificate),
the following fees shall be borne (tick “☐”
to indicate the provisions applicable).

 

Please tick “” to select:

 

☐ Undertaken
by Party A.

 

☐ Party
A and Party B shall jointly undertake the following proportions: Party A _/ % B, Party B / %.

 

15.3 For other matters entrusted to third parties,
the relevant expenses shall be borne by the entrusting party. If both parties jointly act as principal, each party shall bear 50%.

 

In the case that Party B is unable to repay the
loan principal and interest and repay the payable expenses under the Contract on time, all expenses such as attorney’s fee, lawsuit fee,
travel expenses and application for issuance of enforcement certificate paid by Party A in order to realize the creditor’s right shall
be borne by Party B in full, and Party B authorizes Party A to directly deduct the expenses from its bank account. In the case of any
deficiency, Party B shall guarantee to repay the amount after receiving the notice of Party A, and Party A shall not be required to provide
any proof.

 

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16. Event of default and handling

 

16.1 Event of default shall be deemed to have occurred under any of
the following circumstances:

 

16.1.1 The special warranty of Party B under the Contract is untrue
and incomplete, or Party B violates the special warranty and fails to correct it immediately as required by Party A;

 

16.1.2 Party B fails to draw and use the loan
in accordance with the provisions of the Contract, or fails to repay the loan principal, interest and expenses in full and on time herein,
or Party B fails to provide the inflow into the account as required by Party A, or fails to accept the supervision of Party A, and fails
to immediately correct the loan upon requirement by Party A;

 

16.1.3 Party B incurs a material breach of contract
under a legally valid contract with other creditors of Party B and that fails to be satisfactorily resolved within three months from the
date of the breach.

 

The aforesaid material breach of contract means
that Party B’s breach of contract causes its creditors to have the right to claim more than RMB 1 million.

 

16.1.4 Party B violates the stipulations of the
Contract and other obligations, or Party A reasonably judges that the credit status of Party B decreases or other circumstances may affect
the realization of Party A’s debts.

 

16.1.5 Party B adopts “neatening to zero”
to avoid Party B’s entrusting Party A to pay the external fund according to the requirements of the Contract;

 

16.1.6 If Party B is a new three-board listing
enterprise or intends to apply for the new three-board listing, the new three-board listing of Party B encounters significant obstacles
or the listing application is suspended; Party B has been issued warning letter by the new third board market, ordered to correct, restricted
securities account transactions and other self-regulatory measures for a total of more than 3 times, or taken disciplinary action, terminated
listing or other circumstances;

 

16.1.7 When Party B as the supplier of the government
procurement unit, which brought risks to Party A’s credit authorization, such as continuous or accumulated three-phase delayed payment,
or Party B is disqualified from supply (entering the black list of government procurement), or Party B supplies untimely, deliveries unstable
product quality, in difficult operation, in worsening financial situation (insolvent), the project is suspended, etc.

 

16.1.8 Party B’s financial indicators fail to
continuously meet the requirements stipulated in the Contract, or any precondition (if any) for Party A to provide loan/financing to Party
B as agreed in the Contract consistently.

 

16.1.9 Party B’s business activities may bring
anti-money laundering or sanctions risks to Party A.

 

16.1.10 Party B suffers from any other circumstances
that Party A deems harmful to its lawful rights and interests.

 

16.2 If any of the following circumstances occurs
to the Guarantor, Party A considers that it may affect the guaranty ability of the Guarantor, and requires the Guarantor to exclude the
adverse effects caused therefrom, or requires Party B to add or replace the guarantee conditions, and if the Guarantor and Party B do
not cooperate, the event of default shall be deemed to have occurred:

 

16.2.1 Party B fails to obtain the consent of Party A in case of any
of the circumstances described in Article 10.2.6 of the Contract or the circumstances described in Article 10.2.8;

 

16.2.2 The irrevocable guarantee is issued with
concealing the actual ability to bear the guarantee liability, or without the authorization of the competent authority;

 

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16.2.3 Fails to handle the formalities of registration,
annual report of the enterprise and extension/extension of the business term on time;

 

16.2.4 Dereliction of administration and recovery
of claims due or disposal of existing principal property free of charge or other improper means.

 

16.2.5 In breach of any of its obligations, undertakings
or representations in the irrevocable guarantee signed.

 

16.3 If any of the following occurs to the mortgagor
(or pledgor), Party A considers that the mortgage (or pledge) is not established or the mortgaged property (or pledge) is insufficient.
If the mortgagor (or pledgor) is required to exclude the adverse effects caused by this, or Party B is required to add or replace the
guarantee conditions, and the mortgagor (or pledgor) and Party B do not cooperate, the breach of contract shall be deemed to have occurred.

 

16.3.1 There is no ownership or disposition of
the collateral (or pledge), or the ownership is in dispute;

 

16.3.2 The mortgage (or pledge) fails to be completed
the mortgage/pledge registration formalities, or has been leased, established residence right, sealed up, retained, supervised, existing
shared/statutory prior priority (including but not limited to the priority of construction project payment and chattel price mortgage),
established seller ownership retention priority, lessor financial lease priority, and/or conceals the occurrence of such circumstances;

 

16.3.3 The Mortgagor, without the written consent
of Party A, transfers, leases, establishes the right of residence, re-mortgages or disposes of the mortgaged property in any improper
way or establishes any form of right burden, or the mortgaged property, with the written consent of Party A, is not used to repay the
debts owed by Party B to Party A as required by Party A;

 

16.3.4 The mortgagor fails to properly keep, maintain
and repair the mortgaged property, resulting in obvious depreciation of the value of the mortgaged property; Or the behavior of the mortgagor
directly endangers the mortgaged property, resulting in a decrease in the value of the mortgaged property; Or the Mortgagor fails to insure/renew
the mortgaged property as required by Party A during the mortgage period;

 

16.3.5 The mortgagor fails to immediately inform
Party A of the occurrence or possible occurrence of the risk of expropriation and demolition of the mortgaged property, and performs relevant
obligations as agreed in the mortgage contract;

 

16.3.6. Where the mortgagor provides the residual
value mortgage guarantee for the business under the Contract with the mortgage property of China Merchants Bank, the mortgagor settles
the individual mortgage loan in advance without the consent of Party A before Party B repay the debt under the Contract;

 

16.3.7 When the pledgor pledges the financial
product, the financial product subscription fund source is illegal/compliant;

 

16.3.8 The occurrence or possible occurrence of
mortgaged (pledged) property affects the value of mortgaged (pledged) property or Party A’s mortgage (pledged) right, etc.

 

16.3.9 The Mortgagor (or Pledger) breaches of
any of its obligations, undertakings or representations under the Mortgage Contract/Pledging Contract signed by it.

 

16.4 When the guarantee under the Contract includes
the pledge of accounts receivable, if the accounts receivable debtor suffers from obvious deterioration of operation, transfer of property/withdrawal
of funds to avoid debts, collusion with the pledgor of accounts receivable to change the capital inflow path, resulting in the failure
of accounts receivable to enter the special inflow account, loss of commercial reputation, loss of or possible loss of performance capacity
or other major matters affecting its ability to repay debts, Party A has the right to require Party B to provide corresponding guarantee
or provide new effective accounts receivable for pledge; If Party B fails to provide it, the event of default shall be deemed to have
occurred.

 

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16.5 In the event of any of the above-mentioned
Events of Default, Party A has the right to take the following measures at the same time or separately:

 

16.5.1. Change the entrusted payment conditions
of the loan fund and cancel Party B’s use of the loan by means of “independent payment”;

 

16.5.2 Stop issuing loans not yet used by Party
B;

 

16.5.3 Recover the loan principal and interest
and related expenses issued in advance;

 

16.5.4. Directly freeze/deduct the deposits in
the settlement account or other accounts of Party B, and entrust other institutions of China Merchants Bank to freeze/deduct the deposits
of Party B in such institutions to pay off all the debts of Party B under the Contract, stop opening new settlement accounts for Party
B, and stop handling new credit cards of Party B’s legal representative;

 

16.5.5 Submit the information of Party B’s breach
of contract and discredit to the credit reference institution and banking associations, and shall have the right to share such information
among banking institutions by appropriate means and even publicize it to the society;

 

16.5.6 Dispose of the collateral and/or recover
from the guarantor in accordance with the provisions of the guarantee document;

 

16.5.7 Party A may also directly request Party
B to provide other property acceptable as a new guarantee, if Party B fails to provide a new guarantee as required, Party B shall bear
penalty equal to 30.0% of the loan amount under the Contract.

 

16.5.8 Recourse in accordance with this Contract.

 

16.6 For the funds obtained by Party A through
recovery, the payment shall be made in the order of expenses, penalty, compound interest, penalty interest, interest, and final loan principal,
until all principal and interest and all related expenses are paid off.

 

For loans issued in installments, the funds obtained
by recourse shall be repaid in descending order of the maturity date of the loan, and the specific principal and interest, liquidated
damages and expenses of each loan period shall be repaid in descending order of the maturity date of the loan.

 

Party A has the right to adjust the above-mentioned repayment sequence
unilaterally, unless otherwise required by laws and regulations.

 

17. Alteration and termination of the contract

 

The Contract may be modified and rescinded by
the written agreement reached by both parties through negotiation. The Contract shall remain valid until the written agreement is reached.
Neither party may unilaterally modify, or rescind the Contract.

 

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18. Miscellaneous

 

18.1 Changes in situation and force mjeure

 

18.1.1 If Party A’s loan behavior under the Contract
becomes illegal due to changes in applicable laws or policies, Party A has the right to terminate the Contract and declare all loans issued
to mature ahead of time, and Party B shall repay them immediately as required by Party A.

 

18.1.2 In the case of any change in the requirements
of applicable laws and policies, which results in additional costs for Party A to perform the loan obligations hereunder, Party B shall
compensate the additional costs incurred by Party A according to the requirements of Party A.

 

18.1.3 In the course of performing the Contract,
if one or both parties encounter force majeure, the party suffering force majeure shall not be liable for compensation for the loss suffered
by the other party, but shall have the obligation to notify the other party in time and take reasonable measures to prevent the loss from
expanding; otherwise, the party shall be liable to the other party for compensation for the expanded loss.

 

18.2 Reservations of rights

 

During the effective period of the Contract, Party
A shall not give any tolerance, grace or delay to any breach or delay of Party B, and shall not prejudice, affect or restrict all rights
and interests of Party A as creditors in accordance with the Contract and relevant laws, and shall not permit or accept any breach of
the Contract by Party A, and shall not be deemed as waiver of Party A’s right to act on existing or future breach of the Contract.

 

18.3 Notification

 

The notices, requirements or other documents of
Party A and Party B related to the Contract shall be sent in writing (including but not limited to letters, faxes, e-mails, electronic
platforms such as China Merchants Bank Enterprise Online Banking/Enterprise App, mobile phone short messages or WeChat). Party B shall
confirm the address and service of documents as follows:

 

18.3.1 Party B confirms and agrees to take Party
B’s China Merchants Bank Enterprise Online Banking/Enterprise App and Party B’s contact address, e-mail, fax number, mobile phone number
or WeChat specified in the Contract as the service address of all commercial and legal documents of Party B under the Contract.

 

Commercial documents referred to in this Article
refer to various commercial documents such as business notice, confirmation, notice of breach of contract, notice of advance maturity,
and overdue reminder during the business transaction hereunder; the legal instruments mentioned in this Article including notarial instruments
and judicial instruments (including but not limited to the judicial instruments at the trial and execution stage, such as the statement
of indictment/arbitration application, the statement of appeal, the reply, the evidence, the summons, the notice of appearance, the notice
of proof, the notice of hearing, the notice of hearing, the judgment/award, the written order, the mediation agreement, and the notice
of performance within a time limit).

 

Party A, the respondent court and the notary office
shall be deemed to have been effectively served at the service address agreed in the preceding paragraph by the service method agreed
herein.

 

18.3.2 Party B confirms and agrees that delivery
by hand (including but not limited to delivery by lawyer/notary public, express delivery, etc.) shall be deemed as delivery by signature
of the receiving party (in case of rejection by the receiving party, it shall be deemed as delivery on the date of rejection/return or
seven days after the date of mailing, whichever is earlier); If it is delivered by postal letter, it shall be deemed to be served seven
days after it is sent; In case of electronic delivery by fax, email, CMB Enterprise Online Banking/Enterprise APP (i.e. delivery to CMB
Enterprise Online Banking/Enterprise APP through CMB Enterprise Online Banking/Enterprise APP), mobile phone SMS or WeChat, the date shall
be determined by displayed date of successful delivery the Party A’s corresponding system/electronic device. Where Party A notifies Party
B of the transfer of creditor’s rights by means of announcement in the public media or urges Party B for repayment, it shall be deemed
to be served on the date of announcement.

 

    33

     

    

 

18.3.3 If Party B changes the contact address,
e-mail address, fax number or mobile phone number or WeChat, Party B shall notify Party A in writing of the changed information within
five working days from the date of change, otherwise Party A has the right to deliver the information according to the original contact
address or information of Party B. If Party B fails to successfully deliver the contact address or information change, the date of delivery
shall be deemed as 7 days after return or the date of delivery (whichever is earlier). Party B shall bear the possible losses arising
therefrom, which shall not affect the legal effect of service.

 

18.3.4 Party B further agrees that the court may
serve judicial documents on Party B through electronic means such as the China Trial Process Information Publication Network and the national
uniform service platform; If the aforesaid mentioned way of service is adopted, the date on which the judicial documents are successfully
sent shall be deemed as the service date indicated by the China Trial Process Information Publication Network and the national unified
service platform; Where the court completes the service of judicial documents by electronic service, it is not necessary to serve the
paper judicial documents at the contact address of Party B.

 

18.3.5 The service address and service method
agreed in this Article shall be applicable to the period of contract performance, dispute settlement, arbitration, court trial (first
instance, second instance and retrial) and execution.

 

18.4 The withdrawal application, loan receipt,
business information recorded by Party A system and the written supplementary agreement reached by Party A and Party B through negotiation
on matters not covered herein and changes herein shall constitute an integral part of the Contract.

 

18.5 In order to facilitate business handling,
all operations (including but not limited to application acceptance, data review, lending, transaction confirmation, deduction, inquiry,
receipt printing, collection, payment deduction, etc.) involving transactions of Party A may be handled by any branch within the jurisdiction
of Party A, and relevant letters may be generated, issued or issued. The business operations and letters of the branch within the jurisdiction
of Party A shall be deemed as Party A’s acts and shall be binding on Party B.

 

18.6 Other agreements:

 

The loan under the Contract shall be lump-sum loan according to the
loan notice issued by Shenzhen Medium and Small Enterprises Financing Guarantee Co., Ltd.

 

19. Applicable law and dispute resolution

 

19.1 The conclusion, interpretation and settlement
of the Contract shall be governed by the laws of the People’s Republic of China (excluding the laws of Hong Kong, Macao and Taiwan), and
the rights and interests of Party A and Party B shall be guaranteed by the laws of the People’s Republic of China.

 

19.1
If the dispute between Party A and Party B during the performance of the Contract cannot be settled through negotiation, either party
shall (please tick in “☐”
in one of the three):

 

þ19.2.1
To bring a lawsuit to the people’s court with jurisdiction where Party A is located;

 

☐ 19.2.2
Shall file a lawsuit with the people’s court having jurisdiction over the place where the contract is signed, and the place where the
contract is signed is /;

 

    34

     

    

 

☐ 19.2.3
Apply to/(fill in the specific name of the arbitration instrument) for arbitration in accordance with the prevailing arbitration rules,
with the arbitration place located at _/.

 

19.3 After Party A and Party B have handled the
notarization giving enforcement effect to the Contract, Party A may directly apply to the competent people’s court for compulsory enforcement,
so as to recover the debts due under the Contract.

 

20. Contract effectiveness

 

The Contract shall come into force after being
signed by the legal representative (person in charge) or authorized agent of both parties (or stamped) and affixed with the official seal
of the unit/contract special seal, and shall automatically become invalid until the date when all loan principal and interest and other
related expenses under the Contract are paid off.

 

21. Annex

 

The Contract is made in quadruplicate, each of
the same legal effect, with Party A, Party B and each guarantor each holding one copy.

 

Party B declares that:

 

All terms of this contract are reached after fully
negotiation by both parties. Party A has brought to the special attention of Party B the clauses related to the exemption or reduction
of Party A’s responsibilities and other significant interests of Party B, and made corresponding explanations on the above clauses at
the request of Party B. Party B has fully and accurately understood it. The parties hereto shall have the same understanding of the terms
of the Contract.

 

(No text below)

 

    35

     

    

 

(The following is the signature column of the Loan Contract No. 755HT2021169271)

 

Party A: China Merchants Bank Co., Ltd. Shenzhen Branch (Sealed with
pecial seal for contract)

 

Legal representative/responsible person or authorized agent (signature/signature
seal): Yue Ying (sealed)

 

Contact address: CMB Shenzhen Branch Building, 2016 Shennan Avenue,
Futian District, Shenzhen. 

 

75923831810101

 

The official seal has been verified: Deng Kaidan

 

Party B: Shenzhen VLG Wireless Technology Co., Ltd. (sealed)

 

Legal representative/responsible person or authorized agent (signature/signature
seal): Bai Guiqing (sealed)

 

Contact Address: 3/F&4/F, Building 1, Haoyee Industrial Park,
Tiegang Road, Xixiang Sub-district, Bao’an District, Shenzhen, Guangdong Province

 

Email address: _/

 

Fax No.: _/

 

Contact number: 13530081875

 

WeChat: _/

 

Date: September 23, 2021

 

 

36Exhibit 10.16

 

Customized Chip Framework Supply Agreement 

 

Contract No.: XMEOC20190101-001

 

This cooperation agreement is established by Xiamen
Yixinyuan Semiconductor Technology Co., Ltd., a company established in accordance with the laws of China, and its registered
address is located at Unit 402, No. 1736 Gangzhong Road, Xiamen Area, China (Fujian) Pilot Free Trade Zone (hereinafter referred
to as the “Supplier”), and Shenzhen Xinsheng Technology Co., Ltd., a company established under the laws of China,
with its registered address at 7A, 7th Floor, Nanhang Building, North District, High-tech Park, Nanshan District, Shenzhen (hereinafter
referred to as “the buyer”) . Signed and entered into force on January 1, 2019, and the cooperation period is five
years from the effective date.

 

This framework cooperation agreement is based
on the provisions of the “Contract Law of the People’s Republic of China” and relevant laws and regulations, through friendly
negotiation, and the cooperation terms are as follows:

 

1. Content of cooperation

 

The supplier hereby customizes the production
of chip products for the buyer in accordance with the provisions of this cooperation agreement. Unless otherwise stipulated in this cooperation
agreement, the buyer is completely independent to sell the chip products supplied by the supplier.

 

2. Cooperation Mode

 

The two parties jointly customize products. During
the cooperation period, the cooperation model agreed by both parties is the Buy-and-resell model, that is, after the two parties
agree on the selling price of the supplier to the buyer, the buyer decides the selling price for resell to the customer.

 

3. Responsibilities of the buyer

 

The buyer should strive to promote the sales of
products; provide publicity for customized products, and continue to provide products and services to meet customer needs.

 

4. Responsibilities of Suppliers

 

(1) The supplier shall produce, sell and supply
products in accordance with the stipulations of this cooperation agreement and in accordance with the orders issued by the purchaser/designated
customer.

 

(2) Any discontinuation and/or change of the product,
including but not limited to product update, function addition or reduction, other improvements, research and development of new models
and similar products, production and raw materials, raw material sources, origin, model, type, manufacturing process are collectively
referred to as “changes in product specifications”. The supplier shall confirm with the purchaser in writing six months before
the production stop/three months before the change, and can only execute it after obtaining the explicit instructions of the purchaser.

 

(3) For customized products, the supplier shall
provide a one-year free warranty for the product from the time the product is delivered to the designated customer (if individual customers
have agreed on a longer warranty period for the buyer, with the written consent of the supplier, the product can be guaranteed according
to the customer requirements to increase the warranty period). However, if the product has hidden defects that are not found within the
warranty period, the supplier shall immediately analyze the defective product after feedback from the buyer or the buyer’s customer. After
the supplier confirms that the product is defective, it shall return and exchange the defective product in a timely manner without affecting
the rights and interests of the buyer.

 

(4) Protection of the rights and interests of
the buyer:

 

For chip products customized by the buyer, the
supplier has no right to sell any third party other than the buyer.

 

     

     

    

 

5. Order

 

(1) All kinds of demand estimates, orders, proposals
and other transactions put forward by the demander to the supplier at any time shall be made in writing. The supplier shall reply to the
buyer in the same written form within two working days after the delivery of the demand estimate, order and proposal of the buyer, whether
to accept or not. The supplier’s written response shall prevail. If the supplier fails to deliver the products to the buyer’s warehouse
on time, which causes the buyer to delay delivery to the buyer/designated customer, the supplier shall issue a written explanation and
explain to the buyer. However, if the above events occur due to factors attributable to the purchaser, the purchaser shall bear its own
part of the responsibility.

 

(2) Before the supplier’s products have not been
shipped to the buyer, the buyer may notify the supplier in writing to change or cancel the order for the products customized by the supplier
for the buyer. The relevant restrictions are as follows:

 

1. Within 7 days before the supplier’s original
delivery date: the buyer’s request for the supplier to change the delivery time requires the supplier’s consent.

 

2. Within the period from 8 days to 15 days before
the supplier’s original delivery date: the buyer may request the supplier to postpone the delivery time.

 

3. When the buyer intends to cancel the order,
the supplier will not accept the cancelled order due to the special customized products of the buyer.

 

The direct or indirect loss to the supplier caused
by the change or cancellation of the order by the purchaser shall be borne by the purchaser.

 

(3) Minimum order quantity

 

The buyer customizes the wafer bare chip packaged
chip products, and each order is not less than one product model original wafer (Wafer) (the wafer size and the number of die chips corresponding
to each model are shown in the attachment [1] ]), due to the particularity of the bare wafers, the number of finished products for each
wafer test is determined by the specific test results at the time of delivery, (the flat rate is ≤1.5%), and the payment amount will
be refunded and made up.

 

6. Delivery

 

(1) The delivery conditions of this product are:
Domestic freight to the place designated by the buyer. If there are other delivery conditions, the two parties will negotiate separately.

 

(2) The delivery time shall be separately agreed
by both parties in each order, and shall be delivered in the following ways:

 

1. According to the agreed delivery time, it will
be delivered to the designated place agreed in the order.

 

2. Unless otherwise agreed by both parties, the
shipping packaging should be in accordance with the shipping packaging standards required by the buyer.

 

3. Unless otherwise agreed by both parties, the
interval between the manufacture date and the delivery date of each product delivered by the supplier shall not exceed one year.

 

4. The supplier should clearly know the content
of the specifications of the buyer’s products before accepting the buyer’s order.

 

(3) The transportation, loading and unloading
costs and transportation insurance of products in China shall be borne by the supplier. For example, the FOB Hong Kong supplier shall
bear the customs declaration fee and customs declaration fee, and the supplier shall only bear the cost of the goods in Hong Kong entering
the delivery place designated by the buyer. (In addition to shipping, do not pay any other fees, such as warehousing fees, etc.). The
buyer agrees not to consider the supplier’s breach of contract if the loss of the product in transit is caused by the carrier’s problem
and the supplier delays delivery. The supplier is responsible for the loss recovery in such cases, and the supplier is obliged to make
up the products to the buyer as soon as possible.

 

    2

     

    

 

(4) The purchaser shall, within [seven] days after
receiving the products delivered by the supplier, check the quantity and outer packaging of the products, and inform the supplier of the
acceptance results. If the purchaser overdue the acceptance inspection or notified the acceptance result overdue, it is deemed that the
purchaser has no objection to the supplier’s product quantity and outer packaging.

 

(5) Special agreement

 

Since the number of finished products of each
die in the form of wafer die package is not equal, the supplier will notify the demander in writing after the actual delivery if it cannot
be delivered according to the corresponding quantity of the order. Delivery quantity, the corresponding amount difference (calculated
according to the order unit price) will be directly deducted from the corresponding amount in the next order. And on the 25th to 28th
of each month, the reconciliation date with the buyer will be made. Failure to reconcile with the supplier within the time limit shall
be deemed to have accepted the reconciliation notice from the supplier.

 

7. Payment

 

(1) The supplier only accepts: payment upon
delivery.

 

(2) At any time, under any cooperation mode, if
the supplier intends to increase the price of the product, the supplier shall notify the purchaser in writing 90 days before the change,
which shall take effect, but shall not affect the quotation and the reply that the purchaser has provided to the customer. Customer’s
order (the buyer is obliged to show the relevant certificate to the supplier).

 

8. Price Protection

 

Due to market or promotional factors, the supplier
may notify the purchaser in writing at any time to lower the price of customized products from a specific date, and the purchaser may
decide whether to adjust the market price at its own discretion after receiving the written notification from the supplier.

 

9. Inventory return and exchange processing

 

If the order issued by the buyer’s customer takes
effect, if there is a dispute over intellectual property rights or product defects, defects or other rights or items, or when a dispute
occurs, the supplier shall bear the corresponding losses, but the The party shall provide the supplier with necessary assistance to reduce
or control the expansion of losses. Other matters not mentioned above shall be handled by the buyer.

 

10. Guarantee

 

(1) The supplier shall provide the chip products
according to the specifications of the ordering party, and the supplier guarantees that the products provided to the buyer fully comply
with the order and the specifications of the buyer. The supplier guarantees that the manufacturing and testing process of the ordered
object is complete, reasonable, legal, and completed in accordance with the standard manufacturing testing and inspection process, and
there is no product defect.

 

(2) The supplier guarantees that the customized
products provided to the buyer, including but not limited to its production process, semi-finished products, packaging, etc., comply with
any relevant laws and administrative regulations

 

(Including but not limited to the laws and regulations
of the place of manufacture and the place of purchase, environmental protection regulations, regulations on the restriction of hazardous
substances, etc.).

 

11. Intellectual Property Rights

 

(1) The supplier guarantees that any products
provided to the buyer, including but not limited to its production process, semi-finished products, packaging, etc., have obtained the
full power (including but not limited to intellectual property rights) of the supplier to fully perform the contract. Guarantee that the
supplier is the only intellectual property right holder of the customized products, and has legal and valid intellectual property rights
or has obtained authorization/reauthorization from the right holder to fully perform this cooperation agreement. Based on the above rights,
the supplier is legally authorized and has Within the scope of fulfilling the purpose of this cooperation agreement, the purchaser and
the purchaser’s customers are authorized to complete the right to sell and use customized products. This right is not subject to any restrictions
and has the ability to fully perform this cooperation agreement.

 

    3

     

    

 

(2) When the buyer or the client of the buyer
is claimed by a third party to infringe intellectual property rights due to the sale of this product or is involved in litigation/arbitration/other
administrative claims, the buyer should notify the supplier, and the supplier will actively assist the buyer and provide for the needs
of the buyer. The buyer and the buyer of the buyer are excluded from the infringement. If the buyer or the buyer of the buyer suffers
any damage, the supplier shall be fully liable for damages(including but not limited to compensation for litigation fees, attorney fees,
investigation fees, settlement money, authorization fees, etc.). For customized products that are likely to infringe, if the customer
of the purchaser requests to return the product or refuses to accept the product or the purchaser evaluates that it may cause other damages,
the purchaser has the right to claim the product to the supplier for return, or/and terminate or cancel the corresponding order.

 

12. Trademark use

 

The buyer may only use the buyer’s registered
or unregistered trademarks, trade names, emblems, logos or other exclusive signs for product-related sales, and the supplier shall not
use the buyer’s trademarks for other purposes.

 

13. Confidentiality obligations

 

Neither party shall disclose or provide to a third
party all confidential data, documents or items that it knows/obtains from the other party due to the performance of this cooperation
agreement, or uses it for purposes other than those stipulated in this cooperation agreement.

 

The party that violates the provisions of this
article shall bear various civil and criminal responsibilities for leaking secrets in accordance with the law, and compensate the other
party for the damages caused thereby. The confidentiality obligations in this article remain valid after the expiration or termination
of this cooperation agreement.

 

14. Terms of Breach

 

Either party shall compensate the other party
for any loss caused to the other party (such as property damage or personal injury, as well as various direct or indirect damages, or
possible claims for damages to a third party) due to violation of this cooperation agreement. The losses suffered due to such breach of
contract and the expenses incurred by the other party to realize the claims (including but not limited to the litigation fees, attorney
fees, assessment fees, notary fees, auction fees, execution fees, etc.)

 

15. Validity period of the cooperation agreement

 

This cooperation agreement will come into effect
on the date of signing by both parties and will expire on January 1, 2024. If either party fails to express its intention not to
renew the contract 90 days before the expiration of this cooperation agreement, this cooperation agreement will be automatically renewed
for one year, and the same will be true when it expires again.

 

16. Termination clause

 

(1) Arbitrary termination

 

Either party may notify the other party 90 days
in advance to terminate this cooperation agreement in advance.

 

    4

     

    

 

(2) Termination of breach of contract

 

When either party to this cooperation agreement
violates this cooperation agreement, the other party signs a reasonable period (not less than 30 days) to urge the defaulting party to
improve. If the defaulting party does not improve or cannot improve, the other party may terminate this contract.

 

17. Other general provisions

 

(1) Both parties guarantee that they have obtained
the complete ability to sign this cooperation agreement. After the signing of this cooperation agreement, all purchases of customized
products by the buyer from the supplier, as well as the conditions listed in the product order of the buyer, are all applicable to the
provisions of this cooperation agreement.

 

(2) The rights and obligations of both parties
are implemented in accordance with the relevant terms of this cooperation agreement, and the two parties will not form a joint venture,
joint venture, partnership, employment or other legal relationship.

 

(3) Applicable law and competent court: Matters
not covered in this cooperation agreement and the interpretation of the cooperation agreement shall be handled in accordance with the
relevant laws of the People’s Republic of China. Both parties agree that any disputes and lawsuits arising from this cooperation agreement
can be submitted to Fuzhou Intermediate The people’s court filed a lawsuit.

 

(4) The title and terminology of the terms of
this cooperation agreement are only to facilitate the two parties to reach an agreement in this cooperation agreement. The interpretation
of this cooperation agreement shall be based on the substantial rights and obligations of the two parties in this cooperation agreement.

 

(5) Notice and Delivery: Any notice or other communication
stipulated in this Agreement shall be delivered by the notifier in person or by fax (the original must be delivered to the other party
by registered mail or express delivery), or by registered mail or express delivery. to the addresses specified in this Agreement by the
parties.

 

Notices or other communications shall be deemed
received when:

 

1. If it is delivered in person, it shall be deemed
delivered when it is delivered to the address specified in the preceding paragraph;

 

2. If sent by fax, the full text shall be deemed
to have been delivered when it is clearly received;

 

3. If it is sent by registered mail or express
delivery, it shall be deemed to have been delivered on the next day after the date recorded in the mailing slip kept by the sender.

 

(6) Transfer of rights and obligations: The rights
and interests in this cooperation agreement and the cooperation agreement shall not be transferred or assigned without the prior written
consent of the other party. However, the rights and obligations shall continue to be valid for the heirs, successors, surviving companies
and newly established companies of any party to this cooperation agreement.

 

(7) Number of copies of the cooperation agreement:
The original copy of this cooperation agreement is in two copies, and each party holds one copy as proof.

 

Supplier: Xiamen Yixinyuan Semiconductor Technology
Co., Ltd.

Name of legal representative: Jinghu Li

Taxpayer identification number: 91350200MA345K729c

Contact address: Unit 402, No. 1736 Gangzhong
Road, Xiamen Area, North District, China (Fujian) Pilot Free Trade Zone

Fax: 0086-591-88048582

 

Buyer: Shenzhen Xinsheng Technology Co., Ltd.

Name of legal representative: Xiaobin Zhan 

Taxpayer identification 91440300MA5DR6KY7F 

Contact address: 7A, 7th Floor, Nanhang Building,
High-tech Park, Nanshan District, Shenzhen

Fax: 0755-86250155

January 1, 2019

 

 

5

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