Document:

Exhibit 4.1

 

Form of Representative’s Warrant
to Purchase Ordinary Shares

 

THE REGISTERED HOLDER OF THIS PURCHASE
WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED
AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE
WARRANT OR CAUSE IT TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE
EFFECTIVE ECONOMIC DISPOSITION OF THIS PURCHASE WARRANT BY ANY PERSON FOR A PERIOD OF ONE HUNDRED EIGHTY (180) DAYS FOLLOWING THE
EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) VIEWTRADE SECURITIES, INC. OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION
WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF VIEWTRADE SECURITIES, INC. OR OF ANY SUCH UNDERWRITER OR SELECTED
DEALER AND IN ACCORDANCE WITH FINRA RULE 5110(G)(2).

 

THIS PURCHASE WARRANT IS VOID AFTER 5:00
P.M., EASTERN TIME, [●].1

 

PURCHASE WARRANT

 

For the Purchase of [●] Ordinary
Shares

of

UTIME LIMITED

 

1. Purchase Warrant. THIS CERTIFIES THAT, pursuant to that certain Underwriting Agreement, dated [●], 2020
(the “Underwriting Agreement”), by and between UTime Limited (the “Company”), and
ViewTrade Securities, Inc., as representative of the underwriters named on Annex A thereto, providing for the initial public
offering (the “Offering”) of ordinary shares, par value $0.0001 per share, of the Company (the “Ordinary
Shares”), ViewTrade Securities, Inc. or its assigns (“Holder”), as registered owner of this Purchase
Warrant, is entitled, at any time or from time to time on or after [●] (the “Commencement Date”)2,
and at or before 5:00 p.m., Eastern time, [●]3 (the “Expiration Date”), but not thereafter,
to subscribe for, purchase and receive, in whole or in part, up to [●]4 Ordinary Shares (the “Shares”),
subject to adjustment as provided in Section 6 hereof. If the Expiration Date is a day on which banking institutions are
authorized by law or executive order to close, then this Purchase Warrant may be exercised on the next succeeding day which is
not such a day in accordance with the terms herein. During the period commencing on the date hereof and ending on the Expiration
Date, the Company agrees not to take any action that would terminate this Purchase Warrant. This Purchase Warrant is initially
exercisable at $[●] per Share5; provided, however, that upon the occurrence of any of the
events specified in Section 6 hereof, the rights granted by this Purchase Warrant, including the exercise price per Share and the
number of Shares to be received upon such exercise, shall be adjusted as therein specified. This Purchase Warrant is being issued
pursuant to the Underwriting Agreement providing for the Offering. The term “Effective Date” shall mean the
effective date of the registration statement in connection with the Offering. The term “Exercise Price” shall
mean the initial exercise price or the adjusted exercise price, depending on the context.

 

 

1 Date that is five years from the Effective Date.

2 Applicable Closing Date.

3 Date that is five years from the Effective Date.

4 10% of the Shares sold in the Offering at the
applicable Closing Date.

5 125% of the price of the Shares sold in the Offering
at the applicable Closing Date.

 

     

     

    

 

2.
Exercise.

 

2.1
Exercise Form. In order to exercise this Purchase Warrant, the exercise form attached hereto must be duly executed
and completed and delivered to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Shares
being purchased payable in cash by wire transfer of immediately available funds to an account designated by the Company or by certified
check or official bank check to the order of the Company. If the subscription rights represented hereby shall not be exercised
at or before 5:00 p.m., Eastern time, on the Expiration Date, this Purchase Warrant shall become and be void without further force
or effect, and all rights represented hereby shall cease and expire.

 

2.2
Cashless Exercise. At any time after the Commencement Date, in lieu of exercising this Purchase Warrant by payment
of cash or check payable to the order of the Company pursuant to Section 2.1 above, Holder may elect to receive the number
of Shares equal to the value of this Purchase Warrant (or the portion thereof being exercised) by surrender of this Purchase Warrant
to the Company, together with the exercise form attached hereto, in which event the Company shall issue to Holder Shares in accordance
with the following formula:

 

Y(A-B)

X    =           A

 

Where,

 

X = The number of Shares to be issued to Holder;

Y = The number of Shares that
would be issuable upon exercise of this Purchase Warrant if such exercise were by means of a cash exercise pursuant to Section
2.1 rather than a cashless exercise pursuant to this Section 2.2;

A = The fair market value of one
Share, as determined in accordance with the provisions of this Section 2; and

B = The Exercise Price in effect
under this Purchase Warrant at the time the election to exercise this Purchase Warrant on a cashless basis is made pursuant to
this Section 2.

 

For purposes of this
Section 2.2, the fair market value of a Share is defined as follows:

 

(i)    
if the Ordinary Shares are traded on a national securities exchange, the fair market value shall be deemed to be the closing
sales price on such exchange on the Trading Day immediately prior to the date the exercise form is submitted to the Company in
connection with the exercise of this Purchase Warrant; or

 

(ii)
if the Ordinary Shares are traded over-the-counter (i.e., on the OTCQB or OTCQX Markets operated by OTC Markets Group, Inc.,
or any similar over-the-counter market), the fair market value shall be deemed to be the closing bid price on the Trading Day immediately
prior to the date the exercise form is submitted to the Company in connection with the exercise of this Purchase Warrant; or

 

(iii)    
if there is no active public market for the Ordinary Shares, the value shall be the fair market value thereof, as determined
in good faith by the Company’s Board of Directors.

 

“Trading Day”
means a date on which the Ordinary Shares are traded on the NYSE, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq
Global Select Market, the New York Stock Exchange or the OTC Bulletin Board (or any successors to any of the foregoing).

 

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For the avoidance of
doubt, if there is no effective registration statement registering, or no current prospectus available for, the resale of the Shares
underlying this Purchase Warrant by the Holder, then this Purchase Warrant may be exercised, in whole or in part, at such time
by means of a cashless exercise in accordance with the provisions of this Purchase Warrant.

 

2.3
Mechanics of Exercise.

 

(i)    
Issuance of Shares Upon Exercise. The Company shall use commercially reasonable efforts to cause the Shares purchased
hereunder to be issued by the Company and certificates (if any) to be transmitted by the Transfer Agent to the Holder by crediting
the account of the Holder’s prime broker with The Depository Trust Company through its Deposit or Withdrawal at Custodian
system (“DWAC”) if the Company is then a participant in such system and either (A) there is an effective registration
statement permitting the issuance of the Shares or resale of the Shares or (B) this Purchase Warrant is being exercised via cashless
exercise, and otherwise by delivery to the address specified by the Holder in the Notice of Exercise by the date that is two Trading
Days after the latest of (A) the delivery to the Company of the Notice of Exercise, (B) surrender of this Purchase Warrant (if
required) and (C) receipt by the Company of the aggregate Exercise Price as set forth above (including by cashless exercise, if
permitted) (such date, the “Share Delivery Date”). The Shares shall be deemed to have been issued, and the Holder
or any other person so designated to be named therein shall be deemed to have become a holder of record of such Shares for all
purposes, as of the date the Purchase Warrant has been exercised and payment to the Company of the aggregate Exercise Price (or
by cashless exercise, if permitted) has been received by the Company and all taxes required to be paid by the Holder, if any, pursuant
to Section 2.3(vi) prior to the issuance of such Shares have been paid.

 

(ii)
Delivery of New Warrants Upon Exercise. If this Purchase Warrant shall have been exercised in part, the Company shall,
at the written request of the Holder and upon surrender of this Purchase Warrant, at the time of issuance of the Shares, deliver
to the Holder a new Purchase Warrant evidencing the rights of the Holder to purchase the unpurchased Shares called for by this
Purchase Warrant, which new Purchase Warrant shall in all other respects be identical with this Purchase Warrant.

 

(iii)    
Rescission Rights. If the Company fails to cause its transfer agent to transmit to the Holder the Shares pursuant
to Section 2.3(i) by the Share Delivery Date, unless such failure was not caused by the fault or negligence of the Company,
then the Holder will have the right to rescind such exercise upon written notice to the Company within one Trading Day after the
Share Delivery Date.

 

(iv)    
Compensation for Buy-In on Failure to Timely Issue Shares Upon Exercise. In addition to any other rights available
to the Holder, if the Holder has taken all actions necessary under the terms of this Purchase Warrant for such Holder to receive
the Shares, if the Company fails to cause the Transfer Agent to transmit to the Holder the Shares pursuant to an exercise on or
before the Share Delivery Date, unless such failure was not caused by the fault or negligence of the Company, and if after such
date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage
firm otherwise purchases, Ordinary Shares to issue in satisfaction of a sale by the Holder of the which the Holder anticipated
receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount,
if any, by which (x) the Holder’s total purchase price (including brokerage commissions and any other applicable fees, if
any) for the Ordinary Shares so purchased exceeds (y) the amount obtained by multiplying (1) the number of Shares that the Company
was required to issue to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving
rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Purchase
Warrant and equivalent number of Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded)
or issue to the Holder the number of Ordinary Shares that would have been issued had the Company timely complied with its exercise
and issuance obligations hereunder. For example, if the Holder purchases Ordinary Shares having a total purchase price of $11,000
to cover a Buy-In with respect to an attempted exercise of Shares with an aggregate sale price giving rise to such purchase obligation
of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The
Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon
request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other
remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or
injunctive relief with respect to the Company’s failure to timely issue Ordinary Shares upon exercise of the Purchase Warrant
as required pursuant to the terms hereof.

 

    	 	3	 

     

    

 

(v)  No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon
the exercise of this Purchase Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon
such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount
equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

 

(vi)
Charges, Taxes and Expenses. Issuance of Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of such Shares, all of which taxes and expenses shall be paid by the
Company, and such Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided,
however, that, in the event Shares are to be issued in a name other than the name of the Holder, this Purchase Warrant when
surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company
may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The
Company shall pay all transfer agent fees required for same-day processing of any Notice of Exercise.

 

3.
Transfer - General Restrictions. The Holder agrees by his, her or its acceptance hereof, that such Holder
will not: (a) sell, transfer, assign, pledge or hypothecate this Purchase Warrant for a period of one hundred eighty (180) days
following the Effective Date to anyone other than: (i) ViewTrade Securities, Inc. or another underwriter or a selected dealer participating
in the Offering, or (ii) a bona fide officer or partner of ViewTrade Securities, Inc. or of any such underwriter or selected dealer,
in each case in accordance with FINRA Conduct Rule 5110(g)(1), or (b) cause this Purchase Warrant or the securities issuable hereunder
to be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition
of this Purchase Warrant or the securities hereunder, except as provided for in FINRA Rule 5110(g)(2). One hundred eighty (180)
days after the Effective Date, transfers to others may be made subject to compliance with or exemptions from applicable securities
laws. In order to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto duly
executed and completed, together with this Purchase Warrant and payment of all transfer taxes, if any, payable in connection therewith.
The Company shall within five (5) business days transfer this Purchase Warrant on the books of the Company and shall execute and
deliver a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate assignee(s) expressly evidencing the right
to purchase the aggregate number of Shares purchasable hereunder or such portion of such number as shall be contemplated by any
such assignment. The Company shall register this Purchase Warrant, upon records to be maintained by the Company for that purpose
(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and
treat the registered Holder of this Purchase Warrant as the absolute owner hereof for the purpose of any exercise hereof or any
distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

4.
Registration. The Company shall be required to keep a registration statement effective on Form F-1 (or Form
F-3, if the Company is eligible to use such form) until such date that is the earlier of the date when all of the Shares underlying
this Purchase Warrant have been publicly sold by the Holder or such time as Rule 144 or another similar exemption under the Securities
Act of 1933, as amended, is available for the sale of all of such Holder’s Shares underlying this Purchase Warrant without
limitation during a three-month period without registration.

 

    	 	4	 

     

    

 

5.
New Purchase Warrants to be Issued.

 

5.1
Partial Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Warrant may be
exercised or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this
Purchase Warrant for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any
Exercise Price and/or transfer tax if exercised pursuant to Section 2 hereto, the Company shall cause to be delivered to
the Holder without charge a new Purchase Warrant of like tenor to this Purchase Warrant in the name of the Holder evidencing the
right of the Holder to purchase the number of Shares purchasable hereunder as to which this Purchase Warrant has not been exercised
or assigned.

 

5.2
Replacement on Loss. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction
or mutilation of this Purchase Warrant, the Company, at its own expense, shall execute and deliver a new Purchase Warrant of like
tenor and date. Any such new Purchase Warrant executed and delivered as a result of such loss, theft, mutilation or destruction
shall constitute a substitute contractual obligation on the part of the Company.

 

6.
Adjustments.

 

6.1
Adjustments to Exercise Price and Number of Shares. The Exercise Price and the number of Shares underlying this Purchase
Warrant shall be subject to adjustment from time to time as hereinafter set forth:

 

6.1.1
Share Capitalizations; Share Sub-Divisions etc. If, after the date hereof, and subject to the provisions of Section
6.3 below, the number of issued and outstanding Ordinary Shares is increased by a share capitalization of Ordinary Shares or
by a sub-division of Ordinary Shares, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar
transaction, then, on the effective day thereof, the number of Shares purchasable hereunder shall be increased in proportion to
such increase in issued and outstanding Ordinary Shares, and the Exercise Price shall be proportionately decreased. Any adjustment
made pursuant to this Section 6.1.1 shall become effective immediately after the record date for the determination of shareholders
entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of
a subdivision, combination or re-classification.

 

6.1.2
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 6.1.1 above, if at any time
during which this Purchase Warrant is outstanding the Company grants, issues or sells any securities of the Company which by their
terms are convertible into or exercisable for Ordinary Shares (“Ordinary Share Equivalents”) or other rights
to purchase shares, warrants, securities or other property, pro rata to all of the record holders of the Ordinary Shares (the “Purchase
Rights”), and not the Holder, then the Holder will be entitled to acquire, upon the terms applicable to such Purchase
Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of Ordinary Shares
acquirable upon complete exercise of this Purchase Warrant immediately before the date on which a record is taken for the grant,
issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Ordinary Shares
are to be determined for the grant, issue or sale of such Purchase Rights. The provisions of this Section 6.1.2 will not
apply to any grant, issuance or sale of Ordinary Share Equivalents or other rights to purchase shares, warrants, securities or
other property of the Company which is not made pro rata to all of the record holders of Ordinary Shares.

 

    	 	5	 

     

    

 

6.1.3
Aggregation of Shares. If, after the date hereof, and subject to the provisions of Section 6.3 below, the
number of issued and outstanding Ordinary Shares is decreased by a consolidation, combination or reclassification of Ordinary Shares
or other similar event, then, on the effective date thereof, the number of Shares purchasable hereunder shall be decreased in proportion
to such decrease in issued and outstanding Shares, and the Exercise Price shall be proportionately increased.

 

6.1.4
Replacement of Shares upon Reorganization, etc. In case of any reclassification or reorganization of the issued and
outstanding Ordinary Shares other than a change covered by Section 6.1.1, 6.1.2 or 6.1.3 hereof or that solely affects
the par value of such Ordinary Shares, or in the case of any share reconstruction or amalgamation or merger or consolidation of
the Company with or into another corporation or other entity (other than a consolidation or share reconstruction or amalgamation
in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the issued
and outstanding Ordinary Shares), or in the case of any sale or conveyance to another corporation or entity of the property of
the Company as an entirety or substantially as an entirety, or in the case any, direct or indirect, purchase offer, tender offer
or exchange offer (whether by the Company or another person) is completed pursuant to which holders of Ordinary Shares are permitted
to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or
more of the issued and outstanding Ordinary Shares, or in the case the Company, directly or indirectly, in one or more related
transactions effects any reclassification, reorganization or recapitalization of the Ordinary Shares or any compulsory share exchange
pursuant to which the Ordinary Shares are effectively converted into or exchanged for other securities, cash or property, or (in
the case the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement
or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement)
with another person or group of persons, whereby such other Person or group acquires more than 50% of the issued and outstanding
Ordinary Shares (not including any Ordinary Shares held by the other Person or other Persons making or party to, or associated
or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination),
then the Holder of this Purchase Warrant shall have the right thereafter (until the expiration of the right of exercise of this
Purchase Warrant) to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior
to such event, the kind and amount of shares or other securities or property (including cash) receivable upon such reclassification,
reorganization, share reconstruction or amalgamation, or consolidation, or upon a dissolution following any such sale or transfer,
by a Holder of the number of Shares of the Company obtainable upon exercise of this Purchase Warrant immediately prior to such
event; and if any reclassification also results in a change in Shares covered by Section 6.1.1, 6.1.2 or 6.1.3,
then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 or 6.1.3 and this Section 6.1.4.
The provisions of this Section 6.1.4 shall similarly apply to successive reclassifications, reorganizations, share reconstructions
or amalgamations, or consolidations, sales or other transfers.

 

6.1.5
Changes in Form of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant
to this Section 6.1, and any Purchase Warrant issued after such change may state the same Exercise Price and the same number
of Shares as are stated in the initial Purchase Warrant. The acceptance by the Holder of the issuance of a new Purchase Warrant
reflecting a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the Commencement
Date or the computation thereof.

 

    	 	6	 

     

    

 

6.2
Substitute Purchase Warrant. In case of any consolidation of the Company with, or share reconstruction or amalgamation
of the Company with or into, another corporation or other entity (other than a consolidation or share reconstruction or amalgamation
which does not result in any reclassification or change of the issued and outstanding Ordinary Shares), the corporation or other
entity formed by such consolidation or share reconstruction or amalgamation shall execute and deliver to the Holder a supplemental
Purchase Warrant providing that the holder of each Purchase Warrant then outstanding or to be outstanding shall have the right
thereafter (until the stated expiration of such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind
and amount of shares and other securities and property receivable upon such consolidation or share reconstruction or amalgamation,
by a holder of the number of Shares of the Company for which such Purchase Warrant might have been exercised immediately prior
to such consolidation, share reconstruction or amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide
for adjustments which shall be identical to the adjustments provided for in this Section 6. The above provision of this
Section shall similarly apply to successive consolidations or share reconstructions or amalgamations.

 

6.3
Elimination of Fractional Interests. The Company shall not be required to issue fractions of Shares upon the exercise
of this Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the
intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may be,
to the nearest whole number of Shares or other securities, properties or rights.

 

6.4
Notice to Holder.

 

6.4.1
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section
6, the Company shall promptly provide the Holder with a notice setting forth the Exercise Price after such adjustment and any
resulting adjustment to the number of Shares and setting forth a brief statement of the facts requiring such adjustment.

 

6.4.2
Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever
form) on the Ordinary Shares, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Ordinary
Shares , (C) the Company shall authorize the granting to all holders of the Ordinary Shares rights or warrants to subscribe for
or purchase any shares of capital equity of any class or of any rights, (D) the approval of any shareholders of the Company shall
be required in connection with any reclassification of the Ordinary Shares, any consolidation or merger to which the Company is
a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby
the Ordinary Shares are converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or
involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall provide
the Holder with, at least 10 days prior to the applicable record or effective date hereinafter
specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption,
rights or warrants, or if a record is not to be taken, the date as of which the holders of the Ordinary Shares of record to be
entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification,
consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is
expected that holders of the Ordinary Shares of record shall be entitled to exchange their Ordinary Shares for securities, cash
or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided
that the failure to provide such notice or any defect therein or in the provision thereof shall not affect the validity of the
corporate action required to be specified in such notice. The Holder shall remain entitled to exercise this Purchase Warrant during
the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise
be expressly set forth herein. Notwithstanding the foregoing, no notice need be given to the Holder if the Company makes a public
announcement of the applicable event via nationally distributed press release or via a publicly available and legally compliant
filing with the U.S. Securities and Exchange Commission.

 

    	 	7	 

     

    

 

7.
Reservation and Listing; Registration Rights.

 

7.1
The Company shall at all times reserve and keep available out of its authorized Ordinary Shares, solely for the purpose
of issuance upon exercise of this Purchase Warrant, such number of Shares or other securities, properties or rights as shall be
issuable upon the exercise thereof. The Company covenants and agrees that, upon exercise of this Purchase Warrant and payment of
the Exercise Price therefor, in accordance with the terms hereby, all Shares and other securities issuable upon such exercise shall
be duly and validly issued, fully paid and non-assessable and not subject to preemptive or similar rights of any shareholder and
free and clear of all liens, taxes and charges. As long as this Purchase Warrant shall be outstanding, the Company shall use commercially
reasonable efforts to cause all Shares issuable upon exercise of this Purchase Warrant to be listed (subject to official notice
of issuance) on all national securities exchanges (or, if applicable, on the OTCQB or OTCQX Markets operated by OTC Markets Group,
Inc., or any similar over-the-counter market) on which the Shares issued to the public in the Offering may then be listed and/or
quoted.

 

7.2
To the extent the Company does not maintain an effective registration statement for the Shares and cashless exercise is
unavailable to any Holder under Section 2.2 hereof pursuant to which all of the Shares issuable upon exercise of this Purchase
Warrant under Section 2.2 would be tradable upon exercise of this Purchase Warrant upon issuance, and in the further event
that the Company files a registration statement with the Securities and Exchange Commission to register its Ordinary Shares (other
than a registration statement on Form F-4 or S-8, or on another form, or in another context, in which such “piggyback”
registration would be inappropriate), then, for the term of this Purchase Warrant, the Company shall give written notice of such
proposed filing to the Holder as soon as practicable but in no event less than twenty (20) days before the anticipated filing date,
which notice shall describe the amount and type of securities to be included in such offering, the intended method(s) of distribution,
and the name of the proposed managing underwriter or underwriters, if any, of the offering, and offer to the Holder in such notice
the opportunity to register the sale of such number of Shares as such Holder may request in writing within five days following
receipt of such notice (a “Piggyback Registration”). The Company shall use commercially reasonable efforts to
cause such Shares to be included in such registration and shall use commercially reasonable efforts to cause the managing underwriter
or underwriters of a proposed underwritten offering to permit the Shares requested to be included in a Piggyback Registration on
the same terms and conditions as any similar securities of the Company and to permit the sale or other disposition of such Shares
in accordance with the intended method(s) of distribution thereof. All Holders proposing to distribute their securities through
a Piggyback Registration that involves an underwriter or underwriters shall enter into an underwriting agreement in customary form
with the underwriter or underwriters selected for such Piggyback Registration. Notwithstanding the provisions of this Section 7.2,
such right to request Piggyback Registration shall terminate on the fifth anniversary of the Effective Date, in accordance with
FINRA Rule 5110(f)(2)(G)(v).

 

8.
Certain Notice Requirements.

 

8.1
Holder’s Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holder the right
to vote or consent or to receive notice as a shareholder for the election of directors or any other matter, or as having any rights
whatsoever as a shareholder of the Company. If, however, at any time prior to the expiration of this Purchase Warrant and its exercise,
any of the events described in Section 8.2 shall occur, then, in one or more of said events, the Company shall give written
notice of such event at least five (5) days prior to the date fixed as a record date or the date of closing the transfer books
(the “Notice Date”) for the determination of the shareholders entitled to such dividend, distribution, conversion
or exchange of securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up or
sale. Such notice shall specify such record date or the date of the closing of the transfer books, as the case may be. Notwithstanding
the foregoing, the Company shall deliver to each Holder a copy of each notice given to the other shareholders of the Company at
the same time and in the same manner that such notice is given to the shareholders; provided, however, that the Company shall not
be obligated to provide any written notice under this Section 8 if it makes a public announcement of the applicable event
via nationally distributed press release or via a publicly available and legally compliant filing with the U.S. Securities and
Exchange Commission.

 

    	 	8	 

     

    

 

8.2
Events Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon
one or more of the following events: (i) if the Company shall take a record of the holders of its shares for the purpose of entitling
them to receive a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise
than out of retained earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company,
(ii) the Company shall offer to all the holders of its shares any additional shares of the Company or securities convertible into
or exchangeable for shares of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation
or winding up of the Company (other than in connection with a consolidation or share reconstruction or amalgamation) or a sale
of all or substantially all of its property, assets and business shall be proposed.

 

8.3
Notice of Change in Exercise Price; Notice of Exercise Price. The Company shall, within five (5) business days after
an event requiring a change in the Exercise Price pursuant to Section 6 hereof, send notice to the Holder of such event
and change (“Price Notice”). The Price Notice shall describe the event causing the change and the method of
calculating the same and shall be certified as being true and accurate by the Company’s Chief Executive Officer and Chief
Financial Officer. The Company shall, within five (5) business days after receipt by the Company of a written request by the Holder,
send notice to the Holder of the Exercise Price then in effect and the number of Shares or the amount, if any, of other shares,
securities or assets then issuable upon exercise of this Purchase Warrant and shall be certified as being true and accurate by
the Company’s Chief Executive Officer and Chief Financial Officer.

 

8.4
Transmittal of Notices. All notices, requests, consents and other communications under this Purchase Warrant shall
be in writing and shall be deemed to have been duly made when (1) hand delivered, (2) mailed by express mail or private courier
service, or (3) if sent by electronic mail, on the day the notice was sent if during regular business hours and, if sent outside
of regular business hours, on the following business day, to following addresses or to such other addresses as the Company or Holder
may designate by notice to the other party:

 

If to the Holder, to:

 

ViewTrade Securities, Inc.

7280 W. Palmetto Park Road, Suite 310

Boca Raton, FL 33433

Attention: Douglas Aguililla, Director, Investment
Banking

Email: dougagui@viewtrade.com

Facsimile: (561) 620-0302

 

with a copy to (which shall not constitute notice):

 

K&L Gates LLP

Southeast Financial Center, Suite 3900

200 South Biscayne Boulevard

Miami, Florida 33131-2399

Attention: Clayton E. Parker, Esq.

Email: Clayton.Parker@klgates.com

Facsimile: (305) 358-7095

 

    	 	9	 

     

    

 

If to the Company, to:

 

UTime Limited

7th Floor, Building 5A

Shenzhen Software Industry Base, Nanshan District

Shenzhen, People’s Republic of China 518061

Attention: Minfei Bao

Email: bminfei@utimemobile.com

 

with a copy to (which shall not constitute notice):

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas, 11th Floor

New York, NY 10105

Attention: Barry I. Grossman, Esq.

Email: bigrossman@egsllp.com

Facsimile: (212) 370-7889

 

9.
Miscellaneous.

 

9.1
Amendments. The Company and the Holder may from time to time supplement, modify or amend this Purchase Warrant by
a written agreement signed by the Company and the Holder. All modifications or amendments shall require the written consent of
and be signed by the party against whom enforcement of the modification or amendment is sought.

 

9.2
Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any
way limit or affect the meaning or interpretation of any of the terms or provisions of this Purchase Warrant.

 

9.3
Entire Agreement. This Purchase Warrant (together with the other agreements and documents being delivered pursuant
to or in connection with this Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to the subject
matter hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject
matter hereof.

 

9.4
Binding Effect. This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the Holder
and the Company and their permitted assignees, respective successors, legal representative and assigns, and no other person shall
have or be construed to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase
Warrant or any provisions herein contained.

 

9.5
Governing Law; Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and construed
and enforced in accordance with the internal laws of the State of New York, without giving effect to conflict of laws principles
thereof. The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this
Purchase Warrant shall be brought and enforced in the U.S. federal and state courts sitting in the Borough of Manhattan in the
City of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives
any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be
served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested,
postage prepaid, addressed to it at the address set forth in Section 8.4 hereof. Such mailing shall be deemed personal service
and shall be legal and binding upon the Company in any action, proceeding or claim. The Company and the Holder agree that the prevailing
party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees
and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor. The Company (on
its behalf and, to the extent permitted by applicable law, on behalf of its shareholders and affiliates) and the Holder hereby
irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding
arising out of or relating to this Purchase Warrant or the transactions contemplated hereby.

 

    	 	10	 

     

    

 

9.6
Waiver, etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase
Warrant shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase
Warrant or any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this
Purchase Warrant. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Warrant
shall be effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement
of such waiver is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be
a waiver of any other or subsequent breach, non-compliance or non-fulfillment.

 

9.7
Successors and Assigns. Subject to applicable securities laws, this Purchase Warrant and the rights and obligations
evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the
successors and permitted assigns of Holder. The provisions of this Purchase Warrant are intended to be for the benefit of any Holder
from time to time of this Purchase Warrant and shall be enforceable by the Holder or holder of this Purchase Warrant.

 

9.8
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence
reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Warrant or any share certificate relating
to the Shares, if share certificates are issued, and in case of loss, theft or destruction, of indemnity or security reasonably
satisfactory to it (which, in the case of the Purchase Warrant, shall not include the posting of any bond), and upon surrender
and cancellation of such Purchase Warrant or share certificate, if share certificates are issued, if mutilated, the Company will
make and deliver a new Purchase Warrant or share certificate, if share certificates are issued, of like tenor and dated as of such
cancellation, in lieu of such Purchase Warrant or share certificate, if share certificates are issued.

 

9.9
Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of
damages, will be entitled to specific performance of its rights under this Purchase Warrant. The Company agrees that monetary damages
would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Purchase Warrant
and hereby agrees to waive and not to assert the defense in any action for specific performance or other equitable remedy that
a remedy at law would be adequate.

 

9.10    
Severability. Wherever possible, each provision of this Purchase Warrant shall be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Purchase Warrant shall be prohibited by or invalid under
applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder
of such provision or the remaining provisions of this Purchase Warrant.

 

9.11    
Execution in Counterparts. This Purchase Warrant may be executed in one or more counterparts, and by the different
parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall
constitute one and the same agreement, and shall become effective when one or more counterparts has been signed by each of the
parties hereto and delivered to each of the other parties hereto. Such counterparts may be delivered by facsimile transmission
or other electronic transmission.

 

[Signature Page Follows]

 

    	 	11	 

     

    

 

IN WITNESS WHEREOF, the Company has caused
this Purchase Warrant to be signed by its duly authorized officer as of the ______ day of     .

 

	 	UTIME LIMITED
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Acknowledged and Agreed:

 

VIEWTRADE SECURITIES, INC.

 

	By:	 	 
	 	Name: Douglas Aguililla	 
	 	Title: Director, Investment Banking	 

 

[Signature Page to Representative’s Warrant]

 

      

     

    

 

Form
of Exercise

 

The undersigned holder
hereby exercises the right to purchase _________________ ordinary shares (“Warrant Shares”) of UTime Limited
(the “Company”), evidenced by the attached Purchase Warrant (the “Purchase Warrant”). Capitalized
terms used herein and not otherwise defined shall have the respective meanings set forth in the Purchase Warrant. Please issue
the Warrant Shares as to which the Purchase Warrant is exercised in accordance with the instructions given below and, if applicable,
a new Purchase Warrant representing the number of Warrant Shares for which the Purchase Warrant has not been exercised.

 

1. Form of Exercise
Price. The Holder intends that payment of the Exercise Price shall be made as:

 

____________a
“Cash Exercise” with respect to _________________ Warrant Shares; and/or

 

____________a
“Cashless Exercise” with respect to _______________ Warrant Shares.

 

2. Payment of
Exercise Price. In the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant
Shares to be issued pursuant hereto, the holder shall pay the aggregate Exercise Price in the sum of
$     to the Company in accordance with the terms
of the Purchase Warrant.

 

3. Issuance of Warrant
Shares. The Company shall deliver to the holder __________ Warrant Shares in accordance with the terms of the Purchase Warrant.
Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The Warrant Shares shall be delivered to
the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

Date: _______________ __, ______

 

	 	 
	 Name of Registered Holder	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

      

     

    

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

 

	Name:	 	 
	 	 	 
	 	(Print in Block Letters)	 
	 	 	 
	Address:	 	 
	 	 	 
	 	 	 

 

NOTICE: The signature
to this form must correspond with the name as written upon the face of the Purchase Warrant without alteration or enlargement or
any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership
on a registered national securities exchange.

 

      

     

    

 

FORM OF ASSIGNMENT

 

FOR VALUE RECEIVED, the undersigned registered
owner of this Purchase Warrant hereby sells, assigns and transfers unto the Assignee named below all of the rights of the undersigned
to purchase ordinary shares, par value $0.0001 per share, of UTime Limited (the “Company”), evidenced
by this Purchase Warrant, with respect to the number of ordinary shares set forth below.

 

	Name of Assignee	 	Address and Phone Number	 	No. of Shares
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

The undersigned also represents that, by
assignment hereof, the Assignee acknowledges that this Purchase Warrant and the ordinary shares to be issued upon exercise hereof
or conversion thereof are being acquired for investment and that the Assignee will not offer, sell or otherwise dispose of this
Purchase Warrant or any ordinary shares to be issued upon exercise hereof or conversion thereof except under circumstances which
will not result in a violation of the Securities Act of 1933, as amended, or any state securities laws. Further, the Assignee has
acknowledged that upon exercise of this Purchase Warrant, the Assignee shall, if requested by the Company, confirm in writing,
in a form satisfactory to the Company, that the ordinary shares so purchased are being acquired for investment and not with a view
toward distribution or resale.

 

	 	 
	Signature of Holder	 
	 	 
	Date	 

 

The undersigned assignee agrees to be bound
by all of the terms and conditions of this Purchase Warrant.

 

	 	 
	Signature of Assignee	 
	 	 
	DateExhibit
10.10

 

Agreement
No.: 001202018K00152

UTime
200

 

 

  

Credit
Agreement

 [Unofficial English Translation]

 

 

 

 

 

 

Shenzhen
Rural Commercial Bank

 

     

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Parties
to the Agreement:

Credit
Grantor (Lender): Longhua Sub-branch of Shenzhen Rural Commercial Bank

Legal
Representative/Person in Charge: Liu Yachun

Address:
No.1003, Minzhi Avenue, Longhua District, Shenzhen City Tel: 28192182

 

Credit
Applicant (Borrower): United Time Technology Co., Ltd.

ID
Card No.:

Legal
Representative/Person in Charge: Minfei Bao

 

Guarantor:
Minfei Bao

ID
Card No.: 510402197304140958

 

Legal
Representative/Person in Charge:

 

(Note:
It is unnecessary for natural persons to fill in the item “Legal Representative/Person in Charge”, and it is unnecessary
for non-natural persons to fill in the item “ID Card No.”)

 

The
Credit Grantor, Credit Applicant and Guarantor reach this Agreement through full negotiation on the basis of equality and voluntariness
in accordance with the relevant laws and regulations of the People's Republic of China and the provisions of the relevant interest
rate documents of the People's Bank of China for adherence.

 

This
Credit Agreement is made in triplicate, with the Credit Grantor holding two copies, the Credit Applicant, the Guarantee and the
Mortgage (Pledge) Registration Authority each holding one copy, and the Agreement number is 001202018K00152, which
has the same legal effect.

 

Terms
of Credit

 

Article
1 Credit Line

 

The
Credit Grantor shall provide the Credit Applicant with a credit line of (in words) Two Million Yuan only (in figures) RMB
2,000,000.00.

 

The
credit period is 36 months, which shall be from August 9, 2018 to August 8, 2021.

 

Article
2 The credit line under this Agreement can be used for the first of the following businesses (multiple choices are
available):

 

1.
Loans;

 

2.
Discount of Commercial Acceptance Bill;

 

3.
Discount of Bank Acceptance Bill;

 

4.
Acceptance of Bank Acceptance Bill;

 

5.
Issuing of Letter of Guarantee;

 

6.
Others----

 

Article
3 The Credit Applicant agrees to use the following account opened in Shenzhen Rural Commercial Bank as the account for credit
use (such as entering the item of expenditure in the accounts of goods), payment, withdrawal of funds and settlement of arrears
under this Agreement: the account name is United Time Technology Co., Ltd., and the account number is 000263231318.

 

Article
4 This credit line shall be used in the following 1 method:

 

 

1.
Revolving             2. Non-revolving              3. Agreed Separately.

 

Article
5 The repayment date of the business under this credit line shall be the 21st day of each month. If there is no
such date in the month, the last day of the month shall be the repayment date, and the last repayment date shall be the maturity
date of the loan. If otherwise agreed, the specific agreement shall prevail.

 

Article
6 The first payment method shall be selected for the credit funds under this Agreement. For the specific agreement
of each payment method, please refer to Article 21 of the Agreement.

 

1.
Independent Payment 2. Entrusted Payment 3. Independent Payment + Entrusted Payment 4. Agreed Separately.

 

     1

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
7 The annual rate of the occupancy fee for the Agreement quota is 0.00%, which shall be charged by using the fourth method
in Article 19 of the Agreement.

 

Article
8 The guarantee of this Agreement shall be in the following second or fourth methods (multiple choices are available):

 

1.
Credit method, Credit Applicant does not need to provide guarantees;

 

 2.
Minfei Bao shall be the Guarantor for the arrears owed by the Credit Applicant under this Agreement, and shall provide
the guarantee of joint and several liability for the maximum amount;

 

 3.
--- shall provide a mortgage guarantee for the maximum amount for the arrears owed by the Credit Applicant under this Agreement
with his legally owned and disposable ---- (property);

 

 4.
Minfei Bao shall provide a pledge guarantee for the maximum amount for the arrears owed by the Credit Applicant under this Agreement
with his legally owned and disposable property (rights) in the List of Pledged Property;

 

 5.
Other guarantee methods---.

 

Article
9 Loans within the Credit Line (hereinafter referred to as “Loans”)

 

1.
The loan interest rate within this credit line shall be calculated by fixed interest rate. Please refer to Article 11 and
Article 17 of this Agreement for details.

 

2.
The purpose of the loan: refer to Article 11 of this Agreement for details.

 

3.
Repayment method: refer to Article 11 of this Agreement for details.

 

Notes:
the actual amount, starting date, maturity date, interest rate and interest payment date of the loan shall be subject to the Loan
Receipt.

 

Article
10 Disputes that cannot be settled through negotiation between the parties concerned shall be settled by using the first
of the following methods.

 

1.
To bring a lawsuit to the people's court where the Credit Grantor is located;

 

2.
To apply to the ---- Arbitration Commission for arbitration, the Commission shall make a final decision in accordance with
the arbitration rules in force at that time, and the findings shall be binding for each party.

 

Article
11 Special terms and conditions agreed upon by the parties. In case of any inconsistency between other clauses of this Agreement
and this clause, this clause shall prevail.

 

1.
The non-revolving credit line is 2 million Yuan only, which is valid for 3 years, and for which, 30% of the equity of the Credit
Applicant held by Bao Minfei shall be pledged as security, and Bao Minfei shall provide an guarantee for joint and several liability,
and have the pledge registered, so that the credit line can be established. Under the credit line, a sub-credit line shall be
established. sub-credit line I: a non-revolving credit line of 2 million yuan, with a valid period of 3 years, and a fixed monthly
interest rate of 7.2‰. The Interest shall be paid on a monthly basis, and the principal shall be repaid at a fixed rate
of 2% of the original amount, also on a monthly basis, with the balance fully repaid on the due date. The non-revolving credit
line shall be used for working capital turnover.

 

2. (1)
The amount of no less than RMB 1.2 million of the monthly revenue of Credit Applicant or associated person
shall be placed in the supervised account of the Credit Grantor; other payments may be made only after the monthly principal
and interest are paid off: (2) The Credit Applicant can only make payments after the Credit Grantor signs a wage payment
agreement. All the above conditions must be met, otherwise the Credit Grantor shall have the right to raise the loan interest
rate by 50% from the date of funding or have the right to recover the payment in advance.

 

Article
12 All Debts under this Agreement (collectively referred to as "Arrears" in this Agreement)

All
debts under this Agreement refer to all the money owed by the Credit Applicant to the Credit Grantor, including loan principal,
interest, penalty interest, compound interest, liquidated damages, damages, quota occupation fees, necessary expenses (including
but not limited to lawyer's fees, legal fees, arbitration fees, enforcement fees, assessment fees, notarial fees, etc.) for the
realization of Credit Grantor's rights and security rights under this Agreement and relevant expenses paid on behalf of the Credit
Applicant.

 

Terms
of Credit Line 

 

     2

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
13 The credit line refers to the maximum limit provided by the Credit Grantor to the Credit Applicant after comprehensive
evaluation of the credit, financial status, operation and management of the Credit Applicant, including local and foreign currency
loans, trading finance, discount, letter of guarantee and other businesses.

 

Article
14 The sum of all credit balances under this credit line shall not exceed the credit line at any time, the credit balance
of a single type of business shall not exceed the specific agreement on the maximum credit line for this type of business, and
the sum of the accumulated use line of non-revolving credit line shall not exceed the maximum limit of non-revolving credit line.

 

Article
15 Credit period refers to the effective period of the credit line provided by the Credit Grantor to the Credit Applicant.
The Credit Applicant shall use the credit line provided by the Credit Grantor within the current period. The maturity date of
a single credit shall not exceed the termination date of the credit period. After the expiration of the credit period, the credit
line shall be terminated automatically.

 

Article
16 If the Credit Applicant needs to use the credit line, it must apply one by one and provide relevant information as requested
by the Credit Grantor. After the approval of the Credit Grantor, a Loan Receipt shall be signed with Credit Grantor, and
the Credit Grantor shall go through the procedures of entering an item of expenditure in the accounts.

 

Article
17 Loan Interest Rate, Interest Rate Adjustment and Interest Settlement under Credit Line

 

(1)
The loan under the credit line shall bear interest according to the interest-bearing method stipulated by the People's Bank of
China, and the benchmark interest rate for loans with the same term published by the People's Bank of China on the date of issuance
shall be taken as the benchmark interest rate. The Credit Grantor shall have the right to decide the conversion method of the
daily interest rate.

 

(2)
The interest in this Agreement can be calculated by using fixed interest rate or floating interest rate: when the fixed loan interest
rate is adopted, the interest shall be paid according to the fixed interest rate agreed in Article 9 of this Agreement; when the
floating loan interest rate is adopted, the loan interest rate = loan benchmark interest rate x loan interest rate floating coefficient,
and the specific loan interest rate floating coefficient shall be agreed in Article 9 of this Agreement. The loan shall be settled
on the day before the interest payment date agreed in this Agreement.

 

(3)
After the signing of this Agreement, the Credit Grantor shall have the right to make corresponding adjustments to the loan benchmark
interest rate and interest rate floating coefficient according to the regulations of the People's Bank of China, the changes in
the interbank interest rate level in the place where the Credit Grantor is located and the agreements in this Agreement. Such
adjustments have been acknowledged by Credit Applicant and each Guarantor, thus it's unnecessary to notify in advance. The loan
benchmark interest rate shall be adjusted quarterly and will be adjusted at the end of each quarter on the 21st
of the quarter-end month.

 

(4)
If the Credit Applicant fails to repay the loan on schedule, the overdue principal shall be charged interest at the overdue loan
interest rate from the date of overdue, and the overdue loan interest rate shall be 50% higher than the current implemented loan
interest rate. For the interest that the Credit Applicant fails to pay on schedule, 50% of compound interest will be charged on
the current loan interest rate level from the date of overdue payment.

 

(5)
If the Credit Applicant fails to use the loan for the purpose agreed in this Agreement, the Credit Grantor shall have the right
to collect interest at the penalty interest rate of misappropriated loans from the date when the loan is not used for the agreed
purpose. The penalty interest rate of misappropriated loans shall be 100% higher than the current loan interest rate. If the loan
is misappropriated and overdue at the same time, the penalty interest will be calculated based on the higher one.

 

Article
18 Early Repayment

 

If
the Credit Applicant want to repay in advance, it shall apply to the Credit Grantor in writing thirty days in advance to
obtain the consent of the Credit Grantor. The prepaid principal and interest of the loan shall be paid off before the prepayment.
The Grantor has the right to require the Credit Applicant to pay an additional interest of not more than three months as liquidated
damages for the early repayment according to the amount of prepayment principal and the loan interest rate at the time of such
early repayment.

 

For
the loan principal repaid in advance, the interest will be postponed to the next interest payment date, and the principal and
interest repaid in each period will be recalculated according to the remaining loan principal and the number of remaining repayment
periods in the repayment method agreed in this Agreement.

 

     3

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
19 The Credit Grantor shall have the right to collect the quota occupation fee from the Credit Applicant in the following four
ways:

 

1.
It shall be collected in one lump sum when opening an account, and the credit line occupation fee = credit line x days of the
credit period x annual rate/360;

 

2.
Calculated on a daily basis, it shall be charged monthly (repayment date) from Credit Applicant, and the daily credit line occupation
fee - unused credit line on the current day x annual rate/360;

 

3.
The credit line occupation fee shall be calculated according to the accumulated unused total credit line at the credit termination
date: the credit line occupation fee = the sum of the daily unused credit line during the credit period x annual rate/360;

 

4.
To be agreed separately.

 

Article
20 If the credit line is used for non-loan businesses, the specific business agreements which may be signed separately.

 

Terms
of Payment

 

Article
21 Agreement on Payment Methods

 

1.
Independent payment means that the Credit Applicant shall independently pay the transaction object of the Credit Applicant that
meets the purposes agreed in this Agreement after the Credit Grantor distributes the credit funds to the account of Credit Applicant
according to the withdrawal application of the Credit Applicant. If this payment method is adopted, the Credit Applicant shall
provide the Credit Grantor with materials explaining the flow of credit funds such as the Fund Allocation Plan, and report the
payment of funds to the Credit Grantor regularly (at least quarterly) after payment. The Credit Grantor may check whether the
payment of credit funds conforms to the purpose agreed in this Agreement through account analysis, voucher inspection or on-site
investigation.

 

2.
Entrusted payment means that the Credit Grantor shall pay the credit funds of the Credit Applicant to the transaction object that
meets the purposes agreed in this Agreement through the account of Credit Applicant according to the withdrawal application and
payment entrustment of the Credit Applicant. If this payment method is adopted, the Credit Applicant shall submit the payment
entrustment (specifying the specific purpose, payment object, payment amount and other information) and the corresponding business
Agreement and other supporting materials when applying for withdrawal from the Credit Grantor, and the payment shall only be made
after the Credit Grantor conducts formal examination and confirmation (Note: the examination and confirmation do not constitute
the obligation of the Credit Grantor). If the materials provided by the Credit Applicant are incomplete, incorrect, false or inconsistent
with the purposes agreed in the Agreement, the Credit Grantor shall have the right to refuse to perform relevant withdrawal and
payment instructions or require the Credit Applicant to supplement and rectify.

 

3.
Independent Payment + Entrusted Payment. If this payment method is adopted, the requirements for entrusted payment and
independent payment are the same as above.

 

Article
22 The Credit Applicant shall not evade the supervision of the Credit Grantor through online banking, transferring service
of transfer cheque, breaking up the whole into parts, etc. The Credit Grantor shall have the right to pre-control the account
of the Credit Applicant (the control amount shall not exceed the total credit amount), and restrict his/her payment behavior and
exchange function of non-counter channels such as online banking and mobile banking.

 

Article
23 If the Credit Applicant is a legal person or any other organization, and affixes a seal consistent with the reserved seal of
the credit lending account on the application and entrustment related to Loan Receipt, withdrawal and payment, the legal effect
of this seal shall be equivalent to the signature and official seal of the Legal Representative/Person in Charge of the Credit
Applicant, and it shall be recognized by all parties to this Agreement.

 

Article
24 The Credit Grantor shall have the right to unilaterally change the payment method according to the provisions of the People's
Bank of China, China Banking Regulatory Commission and other regulatory agencies as well as the credit status of the Credit Applicant.
If the Credit Applicant needs to change the payment method, it must submit a written application to the Credit Grantor and obtain
the written consent of the Credit Grantor.

 

     4

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
25 Special Arrangement on Payment

 

If
the Credit Applicant withdraws or instructs the transaction object to transfer all or part of the credit funds to other accounts
of the Credit Applicant or other third-party accounts unrelated to the transaction without authorization, or if the credit funds
are returned to the account of the Credit Applicant for any reason after payment and used without the written consent of the Credit
Grantor, it shall be deemed that the Credit Applicant has diverted the credit funds under this Agreement for other purposes and
has breached the Agreement.

 

Terms
of Maximum Guarantee

 

Article
26 Agreement on Guarantee

 

(1)
The Credit Grantor is the Secured Party, and its security rights shall include mortgage, pledge and other security rights. The
Guarantor, Mortgagor, Pledgor and other guarantee providers shall be collectively referred to as the Guarantor, and the mortgaged
property, pledge and other guaranties and rights shall be collectively referred to as the Guaranty. For details of the guarantee,
please refer to Article 8 in this Agreement and the List of Guaranty attached to this Agreement.

 

(2)
Scope of guarantee: please refer to Article 12 of this Agreement for details of all debts under this Agreement.

 

(3)
Period of guarantee: if the method of guarantee is adopted, the period of guarantee shall be two years from the effective date
of this Agreement to the maturity date of it; if the methods of mortgage, pledge or others are adopted, the period of guarantee
shall be from the effective date of this Agreement to the repayment of all debts under this Agreement.

 

(4)
The guarantee under this Agreement shall be independent, valid, irrevocable and unconditional, and the guarantee liabilities of
Guarantor shall not be reduced or exempted due to the following circumstances.

 

		1).	Fraud,
reorganization, suspension of business, bankruptcy or change or loss of civil capacity of the Credit Applicant or other guarantors;

 

		2).	If
the Credit Applicant or other guarantors violate the Agreement, the Credit Grantor takes sanction measures for breach of agreement;

 

		3).	If
the Credit Applicant and the Credit Grantor reach a reforming, reorganization or settlement agreement on the debts under this
Agreement;

 

		4).	If
this Agreement is partially or completely invalid for any reason.

 

		5)	If
there are multiple guarantees under this Agreement, each guarantor shall independently bear joint and several guarantee liabilities
for all arrears under this Agreement. If the Credit Applicant breaches the Agreement, the Credit Grantor shall have the right
to directly require each guarantor to immediately perform the guarantee liabilities individually or jointly. The Credit Grantor
shall have the right to waive, change or relieve the guarantee liabilities of one guarantor, and the other guarantors shall still
perform the guarantee liabilities according to the agreement in this Agreement.

 

		6)	If
it is necessary to handle the formalities on mortgage registration, pledge registration or other guarantee registration and notarization
in accordance with law, the Guarantor shall handle it in a timely manner according to the requirements of the Credit Grantor,
and the relevant expenses shall be borne by the Guarantee. On the date of completing registration, the original documents of Property
Right Certificate of Mortgaged Property or Certificate of Use, Pledged Property, Certificate of Rights, other real right guarantee
certificates on guaranties and registration certificate shall be possessed and kept by the Credit Grantor.

 

		7)	In
case of major changes or influences in the Guarantee or the Guaranty, or other circumstances that may affect the guarantee ability,
the Credit Grantor shall have the right to require the Credit Applicant or Guarantor to separately provide full guarantee and
cooperate in handling relevant formalities on assessment, registration, etc. If the Guaranty is damaged, lost or otherwise damaging
the creditor's rights of the Credit Grantor due to the fault of the Guarantor, the Guarantor shall bear joint and several liabilities
for the losses caused to the Credit Grantor regardless of the cause of the infringement and the infringer.

 

		8)	During
the performance of the Credit Agreement, it is unnecessary for the Credit Grantor and the Credit Applicant to obtain the consent
of the Guarantor for any change in the Loan Agreement except for the renewal of the credit or the increase of the loan principal,
and the Guarantor shall not be exempted from liabilities due to the change in the Credit Agreement.

 

     5

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

		9)	The
Guarantor confirms that no matter what method the Credit Applicant and the Credit Grantor adopt to enter an item of expenditure
in the accounts, the amount, term and repayment method of credit funds including loans that do not exceed the credit line shall
be determined by the Credit Applicant and the Credit Grantor, and the Guarantor shall know all about this and have no objection.

 

		10)	If
the Credit Applicant fails to pay off the arrears on time and claims the guarantee right, resulting in the guaranties being sealed
up or detained by the people's court according to law, the Credit Grantor shall have the right to collect the natural income separated
from the guaranties and the legal income collected by the Guarantor on guaranties.

 

		11)	Without
the written consent of the Credit Grantor, the Guarantee shall not dispose of the Guaranty in any form such as transfer, division,
re-mortgage, debt repayment, etc. or set restrictions that hinder the Credit Grantor from exercising the guarantee right.

 

		12)	After
all the arrears under this Agreement are returned, the Real Right Guarantee Certificate, Pledged Property and Property Insurance
Policy kept by the Credit Grantor shall be returned to the Guarantor, and the Guarantee shall be assisted in handling the formalities
for cancellation of guarantee registration. If the ownership of the same Guaranty is more than two (inclusive), the Credit Grantor
shall be deemed to have fulfilled the obligation of return to all parties concerned if it returns the Real Right Guarantee Certificate,
Pledged Property and Property Insurance Policy to one of them.

 

Article
27 Other Arrangements on Assurance and Guarantee

 

1.
Even if there is a Credit Applicant or a third party who can provide assurance or material guarantee for the debts of the Credit
Applicant under this Agreement, the Credit Grantor shall still have the right of recourse to the Guarantor in advance without
exercising other guarantee rights in advance.

 

 2.
If the Guarantor fails to assume the guarantee liabilities as agreed in this Agreement, the Credit Grantor shall have the right
to deduct the money from the accounts opened by the Guarantor in all business agencies of Shenzhen Rural Commercial Bank until
all the arrears under this Agreement are paid off.

 

Article
28 Other Agreements on Mortgage Guarantee

 

1.
The Mortgagor shall obtain the written consent of the Credit Grantor before leasing the mortgaged property or pricing the mortgaged
property for investment.

 

2.
During the mortgage period, the mortgaged property shall be kept by the Mortgagor or its entrusted agent, who shall be responsible
for repairing and maintaining the mortgaged property and ensuring that the mortgaged property is in good condition, and shall
be subject to inspection by the Credit Grantor at any time.

 

Article
29 Other Agreements on Pledge Guarantee

 

1.
During the duration of the Agreement, if any loss occurs to the pledged property due to force majeure, the Credit Grantor shall
not be liable for any compensation.

 

2.
If the pledged property is a right, and if laws and regulations require that the pledge act be recorded in the certificate of
right, the pledge act shall be recorded.

 

Article
30 Realization of Real Right Guarantee (including Mortgage Right, Pledge Right, etc.)

 

If
the Credit Applicant or Guarantor breaches the Agreement, the Credit Grantor shall have the right to dispose of the guaranty in
accordance with the law in the manner deemed appropriate by the Credit Grantor and shall have priority in compensation. The Guarantor
shall assist the Credit Grantor to handle all necessary formalities as required by the Credit Grantor, and the disposition methods
include but are not limited to:

 

1.
The Credit Grantor directly discounts the guaranty, or auctions or sells the guaranty;

 

2.
Dispose the guaranty according to legal procedures.

  

     6

     

    

  

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
31 If the Guarantor fails to fully perform the guarantee obligations agreed in this Agreement, the Guarantor shall not recover
or claim rights from the Credit Applicant, and the right of recourse obtained by the Guarantor according to law after fully performing
the guarantee liabilities shall not be superior to the right of recourse of the Credit Grantor for arrears under other agreements.

 

Article
32 Insurance

 

(1)
If required by the Credit Grantor, the Guarantor shall, before using the credit line, handle the insurance of the guaranty according
to the types of insurance, period of insurance, insured amount and qualification of Insurer required by the Credit Grantor, and
the original insurance policy shall be handed over to the Credit Grantor for safekeeping.

 

(2)
The insurance compensation shall give priority to the repayment of the arrears under this Agreement, the Guarantor shall irrevocably
authorize the Credit Grantor to receive the insurance compensation on its behalf and to have priority in repaying the secured
creditor's rights. The Credit Grantor shall have the right to dispose of the guaranty in accordance with the provisions of the
Property Law of the People's Republic of China and the Guarantee Law of the People's Republic of China for the insufficient
part, and the excess part shall be returned to the Beneficiary in the next order by the Credit Grantor.

 

(3)
The Guarantor shall ensure to pay the insurance premium on time and shall not cancel the insurance during the period of guarantee.
If the Credit Applicant fails to pay off the arrears during the credit period or at the expiration of the insurance period, and
if the insurance is interrupted or not renewed, the Credit Applicant shall have the right (but no obligation) to handle the insurance
on its behalf. All relevant expenses shall be paid by the Guarantor, and the Credit Applicant shall be jointly and severally liable
for repayment. The losses caused by the interruption of the insurance shall be assumed by the Guarantor.

 

Special
Representations and Warranties

 

Article
33 Special Representations and Warranties of the Credit Applicant and the Guarantor (hereinafter collectively referred to as the
"Declarant")

 

1.
The Declarant shall have the complete capacity for civil rights and civil conducts that will not affect the legal effect of this
Agreement.

 

2.
The Declarant promises to abide by the principle of good faith. All information provided by the Declarant to the Credit Grantor
before and after the granting of credit shall be true, accurate, complete, legal and effective, and shall not contain any major
errors or omissions that are inconsistent with the facts.

 

3.
The Declarant has been fully authorized or approved by the superior department or the unit's competent decision-making body to
sign this Agreement, and this Agreement shall have legal and effective binding force on the Declarant from the date of signing.

 

4.
The signing of this Agreement is the true intention of the Declarant, and there is no fraud or coercion.

 

5.
During the effective period of this Agreement, if any major event that affects the performance of its obligations under this Agreement
or may adversely affect the Declarant and its main property occurred or is planned to be carried out on the Declarant, the Declarant
shall immediately notify the Credit Grantor in writing and provide relevant explanatory materials, meanwhile, it shall actively
implement the guarantee measures for repayment of the arrears under this Agreement according to the requirements of the Credit
Grantor. Major events that may have adverse effects include:

 

a.
The alteration or modification of the shareholding structure, industrial and commercial registration, business scope and articles
of association of the Company, or the contracting, leasing, shareholding system reform, joint venture, merger (consolidation),
division, equity restructuring, joint venture, alteration of property right or adjustment of the business mode by cooperating
with foreign investors, etc.;

 

b.
The Declarant or its main management personnel (such as legal representatives, directors, financial officers and so on) are
involved in party (government) discipline investigation, major economic disputes, litigation, arbitration or criminal,
administrative punishment, seizure, detention or other disputes;

 

 c.
The Declarant is revoked with business license, dissolved, closed down, suspended, declared bankrupt, unemployed, dead (including
declared dead), or missing (including declared missing);

 

d.
The Declarant or its controlling shareholders and actual controllers have suffered heavy losses or deficits;

 

e.
The related party transactions accounting for more than 10% of the net assets of the Credit Applicant occur;

 

f.
The ownership disputes occur over guaranty, other major properties and settlement accounts, or the preservation measures are taken;

 

g.
Other major matters that may affect its solvency or guarantee ability, or circumstances that endanger the safety of the creditor's
rights of Credit Grantor.

 

6.
The signing of this Agreement or the performance of its obligations under this Agreement by the Declarant shall not violate any
other agreements entered into by the Declarant, nor shall it have any conflicts in laws and commercial interests with other agreements
entered into by the Declarant.

 

     7

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

7.
The purpose of credit granting shall comply with laws, regulations and national policies. Credit Applicant shall not change the
purpose of the loan or use the loan for other purposes without authorization, and shall not use the loan for purposes prohibited
by laws and regulations such as investment in securities and equity.

 

8.
The laws and regulations of the state shall be strictly abode by to carry out production and business, and the formalities for
the annual inspection and annual review shall be handled on time.

 

9.
Any creditor's rights that have expired shall not be given up, and the existing main property and creditor's rights shall not
be disposed free of charge or in other inappropriate ways.

 

10.
The Guarantor shall have legal, complete and undisputed ownership or disposition of the guaranty, and the guaranty shall not be
used to provide guarantee for any third party before this Agreement.

 

11.
The Declarant shall not transfer any rights and obligations under this Agreement without the written consent of the Credit Grantor.

 

12.
During the credit granting period, the post-shipment inspection conducted by the Credit Grantor for the Declarant or guaranty
shall be unconditionally accepted, and all necessary materials including but not limited to financial statements, bank account
settlement statement, and tax payment vouchers shall be provided as required by the Credit Grantor.

 

Terms
of Rights and Obligations 

 

Article
34 The Credit Applicant shall enjoy the following rights

 

1.
Have the right to require the Credit Grantor to provide loans or other credits under the credit line according to the conditions
agreed in this Agreement;

 

2.
Have the right to use loans or other credits under the credit line as agreed in this Agreement;

 

3.
Have the right to require the Credit Grantor to keep confidential the production, operation, property, account and other information
provided by the Credit Applicant, except as otherwise agreed by laws, regulations and this Agreement.

 

Article
35 The Credit Applicant shall undertake the following obligations

 

1. Repay
the arrears in full and on time as agreed in this Agreement and the Loan Receipt; if the repayment date is the day of "T",
the Credit Applicant shall deposit sufficient funds to pay the arrears (up to the day of "T") into the account agreed
in this Agreement before the end of the counter business of the Credit Grantor on the day of "T-1", and shall irrevocably
authorize the Credit Grantor to directly deduct the arrears from the account; if the funds in the account are not sufficient for
the payment of the arrears, the Credit Grantor shall have the right to deduct the arrears from any other accounts opened by the
Credit Applicant in all business institutions of Shenzhen Rural Commercial Bank, and have the right to control the funds in the
relevant accounts, and the control amount shall be limited to the total amount of arrears; if the deducted amount is inconsistent
with the currency of this Agreement, the deducted amount shall be calculated according to the applicable exchange rate of the
corresponding currency announced by the Credit Grantor on the deduction date;

 

2.
Provide the documents and materials required by the Credit Grantor, as well as all the deposit banks, account numbers and deposits
and loan balances, to ensure the normal status of the loan issuing and repayment accounts (including not being sealed up and frozen)
and cooperate with the investigation, review and inspection of the Credit Grantor;

 

3.
Use the credit line according to the purpose agreed in this Agreement;

 

4.
Accept the inspection and supervision of the Credit Grantor on the use of its credit line and relevant production, operation and
financial activities, and provide the Credit Grantor with the financial statements at the end of the previous quarter and other
materials required by the Credit Grantor before the end of the first month of each quarter;

 

5.
The Credit Applicant shall notify the Credit Grantor in writing and obtain the consent of the Credit Grantor before implementing
the following acts:

 

a.
Apply for credit or loans from financial institutions other than the Credit Grantor.

 

b.
Provide any form of guarantee for third parties.

 

c.
Acts listed in Item a of Paragraph 5 of Article 33 in this Agreement.

 

6.
Assume the expenses incurred in credit evaluation, mortgage (pledge) evaluation, notarization and so on related to this Agreement.

 

     8

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
36 The Credit Grantor shall enjoy the following rights

 

1.
If the material provided by the Credit Applicant does not meet the requirements of the Credit Grantor or the credit granting item
lags behind the progress of the use of credit funds, the Credit Grantor shall have the right to refuse the application for the
use of credit line and the payment entrustment of the Credit Applicant;

 

2.
Have the right to require the Credit Applicant to repay the arrears on schedule, and have the right to decide the deduction sequence
of various arrears;

 

3.
Have the right to require and supervise the Credit Applicant to use the credit line according to this Agreement or each specific
Agreement;

 

4.
Have the right to carry out post-shipment inspection on the Credit Applicant, Guarantor and Guaranty, and have the right to require
the Credit Applicant and Guarantor to eliminate any adverse effects on the performance of the obligations under this Agreement;

 

5.
The Credit Grantor may recover the loan and other credits in advance according to the withdrawal of funds from the Credit Applicant.

 

6.
If the Credit Applicant and the Guarantor fail to perform the stipulations and obligations of this Agreement, the Credit Grantor
shall have the right to impose the sanctions agreed in this Agreement.

 

Article
37 The Credit Grantor shall undertake the following obligations

 

1.
Provide credit to the Credit Applicant within the credit line according to the stipulations of this Agreement, each specific Agreement
and receipt for a loan;

 

2.
Have to keep confidential the assets, production, operation and finance of the Credit Applicant and the Guarantor, except for
the use of the Credit Grantor due to relevant business needs and otherwise provided by laws and regulations.

 

Article
38 The Guarantor shall enjoy the following rights

 

1.
Know the arrears under this Agreement and the repayment of the Credit Applicant from the Credit Grantor.

 

2.
Have the right to require the Credit Grantor to keep confidential the production, operation, property, account and other information
provided by the Guarantor, except as otherwise agreed by laws, regulations and this Agreement.

 

3.
Have the right of recourse according to law after fully performing the guarantee responsibilities and obligations under this Agreement.

 

Terms
of Default

 

Article
39 If the Credit Applicant or Guarantor fails to perform any agreement in this Agreement, or if the "special representations
and warranties" made by the Credit Applicant or Guarantor are false or faulty or are not performed, it shall be deemed as
a breach of Agreement and the Credit Applicant or Guarantor shall bear the liability for breach of Agreement according to law.

 

Article
40 Without the written consent of the Credit Grantor, the Credit Applicant and the Guarantor shall not terminate this Agreement
for any reason including but not limited to the breach of Agreement by either party to the Agreement.

 

Article
41 Under the following circumstances, the Credit Grantor shall have the right to suspend or terminate the Agreement, announce
the early maturity of all loans already issued, and stop issuing the loans not yet issued. The Credit Applicant shall immediately
repay the loans already issued, other credits and other arrears as required by the Credit Grantor, and the Guarantor shall immediately
perform the guarantee liabilities as required by the Credit Grantor:

 

1.
The credit status of the Credit Applicant decreases or the credit record deteriorates;

 

2.
The Credit Applicant or Guarantor fails to perform the special terms agreed in the Article 11 of this Agreement;

 

3.
Part of the Agreement is invalid or violates laws and regulations for any reason;

 

4.
The credit granting behavior under this Agreement does not conform to the provisions of the new laws and regulations due to legislative
changes;

 

5.
Changes in national laws and regulations or local government policies (including the financial management policies of the People's
Bank of China, China Banking Regulatory Commission and other regulatory agencies), leading to changes in the credit policy of
the Credit Grantor or violations of relevant policies and regulations in this Agreement.

 

     9

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
42 If the Credit Applicant and the Guarantor breach the Agreement, the Credit Grantor shall have the right to impose the following
sanctions respectively or simultaneously. The Credit Applicant and the Guarantor have no objection to this:

 

1.
Require the Credit Applicant and the Guarantor to correct the acts breaching the Agreement or increase the guarantee measures
for repayment of arrears under this Agreement;

 

2.
Reject any application for the use of credit line by the Credit Applicant;

 

3.
Demand the Credit Applicant to repay or repay in advance the loans, arrears and other credits;

 

4.
Directly deduct the deposits of the Credit Applicant or Guarantor in any account opened by all business institutions of Shenzhen
Rural Commercial Bank to pay off the arrears of the Credit Applicant, which shall not constitute an obligation;

 

5.
Have the right to demand the Guarantor to perform the guarantee liabilities and pay off all the arrears under this Agreement on
behalf of it or in advance;

 

6.
Have the right to charge liquidated damages not exceeding 10% of the amount of the loan that the Credit Applicant fails to pay
and use as agreed;

 

7.
Suspend/terminate the execution of the Agreement or unilaterally terminate the Agreement;

 

8.
Have the right to implement credit sanctions in accordance with relevant regulations of the People's Bank of China;

 

9.
Collect by carrying out legal procedures in accordance with the law.

 

Article
43 In case of any of the following circumstances, the Credit Grantor shall have the right to immediately bring a lawsuit or arbitration
to collect the loan and other arrears:

 

1.
The Credit Applicant fails to repay the loan principal and interest in full and on time as agreed in this Agreement;

 

2.
The Credit Applicant or Guarantor provides false loan application materials or post-shipment inspection materials to the Credit
Grantor;

 

3.
The Credit Applicant fails to use the loan for the purpose agreed in this Agreement or fails to make payment according to the
agreed payment method;

  

4.
The Credit Applicant or Guarantor breaches the Agreement and fails to correct, repay or assume the guarantee liabilities as required
by the Credit Grantor;

 

5.
The Credit Applicant or Guarantor breaches the Agreement and the Credit Grantor believes that it damages its legitimate rights
and interests.

 

Article
44 During the performance of this Agreement, the Credit Grantor's consent to bear, extend a time limit or postpone the performance
of any breach of Agreement by the Credit Applicant or Guarantor, or the postponing of the execution of the rights and interests
or that the Credit Grantor shall enjoy under this Agreement shall not affect, damage or restrict the rights and interests that
the Credit Grantor shall enjoy in accordance with the law or under this Agreement, nor shall it be regarded as the permission
or recognition of the Credit Grantor for any breach of Agreement, or the Credit Grantor's waiver of the right to take actions
against the existing or future breach of Agreement.

 

Other
Terms

 

Article
45 Requirements for the Credit Grantor, Credit Applicant and Guarantor on the Notice Related to this Agreement.

 

1.
The Credit Grantor's notice or request to the Credit Applicant and Guarantor may be delivered by personal delivery, letter, media
(including the Credit Grantor's website, the same below), e-mail, short message, telephone, fax, etc. If the letter is sent by
registered mail or express delivery, it shall be deemed to have been delivered three days after it is sent; if delivered by hand,
the receipt of the recipient shall be deemed to have been served, and if the recipient refuses to accept it, it shall be deemed
to have been served on the date of rejection.

 

2.
The notice or request of the Credit Applicant and each guarantor to the Credit Grantor shall be made in writing and shall not
be deemed to have been delivered until the Credit Grantor actually signs for it.

 

3.
The address of the Credit Grantor shall be subject to the stipulations in this Agreement, and any change shall be announced in
the media. If the Credit Applicant or Guarantor is a non-natural person, the correspondence address shall be subject to the address
recorded on the legal registration certificate; if it is a natural person, the address or ID card address recorded in the information
provided by the such natural person to the Credit Grantor shall prevail; if there is any change, the Credit Grantor shall be notified
in writing.

 

     10

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
46 The following documents or annexes (if any) shall be an integral part of this Agreement and shall have the same legal effect.

 

1.
The specific Business Agreement, Loan Receipt, Guaranty List, Letter of Declaration, Letter of Undertaking and so on under this
Agreement;

 

2.
Written Supplementary Agreement/Agreement reached by the parties on the matters not covered and changes in this Agreement;

 

3.
All kinds of applications and power of attorney submitted by the Credit Applicant and the Guarantor to the Credit Grantor and
confirmed and approved by the Credit Grantor.

 

Article
47 The signing, interpretation and matters not covered in this Agreement shall be governed by the laws of the People's Republic
of China. Any dispute in the performance of the Agreement shall be settled by the parties through negotiation. If the parties
fail to reach an agreement through negotiation, the dispute shall be settled in the manner agreed in Article 10 of this Agreement.
During the period that the dispute fails to be unresolved, the parties shall continue to perform other clauses stipulated in the
Agreement, except for matters in dispute.

 

Article
48 Supplementary Provisions

 

(1)
Entry into Force and Invalidation of the Agreement

 

This
Agreement shall come into force after the personnel of each party with the right of signing have signed it (if the party concerned
is a legal person or other organization, its official seal or special seal for Agreement shall be affixed) and the guarantee procedures
agreed in Article 8 of this Agreement have been handled, and it shall be automatically invalid until the arrears under this Agreement
are paid off.

  

(2)
Agreement Modification

 

1.
If either party needs to change the terms of this Agreement, it must obtain the written consent of the other party unless otherwise
agreed in this Agreement.

 

2.
The Credit Grantor may transfer its rights under this Agreement to other parties without obtaining the consent of the Credit Applicant
or each guarantor. The Credit Grantor shall notify the Credit Applicant and each guarantor of the transfer of rights, and the
notice may be made in writing, in the form of a public announcement in the media, or in other forms. If the Credit Grantor needs
to change the guarantee registration for the transfer of rights, the Guarantor shall cooperate.

 

3.
If the Credit Applicant intends to transfer the debts under this Agreement to a third party, it shall obtain the written consent
of the Credit Grantor and each guarantor, and this Agreement shall continue to be valid until the Transferee and the Credit Grantor
re-sign the Agreement.

 

(3)
The Credit Applicant and the Guarantor irrevocably authorize the Credit Grantor to provide their identity information, loan information
and other credit information to the People's Bank of China and other credit rating agencies approved by the government. All consequences
arising from the use of the above-mentioned information by the above-mentioned institutions for any use or purpose or from the
provision of the above-mentioned information to the outside persons shall be handled by the above-mentioned institutions through
their own negotiation and have nothing to do with the Credit Grantor.

 

(4)
If there is no definite evidence to the contrary, both the Credit Applicant and the Guarantor shall recognize the arrears, repayment
records or vouchers provided by the Credit Grantor, and shall not raise any objection for the above records and vouchers unilaterally
produced by the Credit Grantor.

 

     11

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Important
Note:

 

All
terms of this Agreement have been fully negotiated by the parties. The Credit Grantor (hereinafter referred to as "the Bank")
has drawn the other parties concerned to read all the terms and conditions and paid special attention to the terms and conditions
regarding the exemption or limitation of the Bank's responsibilities, the certain rights unilaterally possessed by the Bank, the
increase of the responsibilities of the other parties concerned or the terms limiting the rights of the other parties concerned,
and has made a full and accurate understanding of them. The Bank has made corresponding explanations on the terms of this Agreement
at the request of other parties concerned, and the parties to the Agreement have the same understanding of the terms of this Agreement.

 

	Signature
    and Seal Column of the Parties: 
	Credit
    Grantor (Lender): Longhua Sub-branch of Shenzhen Rural Commercial Bank (Seal Affixed)

	Legal
    Representative/Person in Charge:	/s/
    Liu Yachun	 

 

	Credit
    Applicant (Borrower): United Time Technology Co., Ltd. (Seal Affixed)

	Legal
    Representative/Person in Charge:	/s/
    Minfei Bao	 

 

	Guarantor:
    United Time Technology Co., Ltd. (Seal Affixed)

	Legal
    Representative/Person in Charge:	/s/
    Minfei Bao	 

  

	August 1, 2018
	Agreement Version No.: Credit Agreement First Edition in 2016 Valid Date: July 2016 
	 	Registrant:
    Fujiao Hou

 

 

 12

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