Document:

Exhibit 10.2

 

Pledge Agreement

 

Among

 

Shanghai Jiamu Investment Management Co.,
Ltd,

 

Zhengyu Wang and Wangfeng Yan

 

And

 

Hangzhou Wangbo Investment Management

Co., Ltd.

 

July 13, 2017

 

     

     

    

 

Pledge Agreement

 

This Pledge Agreement (“This Agreement”)
is made and entered into this 13th day July, 2017 in Hangzhou, People’s Republic of China (“PRC”).

 

BETWEEN: 

 

Party A: Shanghai Jiamu Investment Management
Co., Ltd, (the “Pledgee”), a foreign-owned enterprise that is established and exists under the law of PRC, located
in Shanghai City.

 

Party B: Zhengyu Wang and Wangfeng Yan
(the “Pledgor”), citizens of People’s Republic of China, shareholders of Party C holding 95% and 5% shares, respectively,
and;

 

Party C: Hangzhou Wangbo Investment
Management Co., Ltd. , an LLC that is established and exists under the law of PRC, located in Hangzhou City.

 

In this Agreement, Pledgee, Pledgor and
Party C is one party each, collectively “all parties”.

 

WHEREAS,

 

		1.	Pledgor is citizen of People’s Republic of China, holding 95% and 5% shares respectively
of Party C at the time of signing this Agreement.

 

		2.	Party C is a LLC established and registered in Hangzhou, China. Party C desires to confirm rights
and obligations of Pledgor and Pledgee under this Agreement and agrees to provide necessary assistance to complete pledge registration
procedure.

 

		3.	Pledgee is a foreign-invested enterprise registered under law of PRC.

 

		4.	Pledgor, Pledgee and/or Party C have entered into several cooperation agreements, in order
to ensure that Pledgor can fulfill its obligations under this Agreement in time, the Pledgor agrees to provide pledge guarantee
with all the shares of Party C Pledgor holds.

 

NOW THEREFORE, towards decision-making
by consensus, all parties agree as follows:

 

		1.	Definitions 

 

In this Agreement, except for otherwise
stated specified, the following defined terms shall have the following meaning:

 

		1.1.	“Pledge” means collateral rights granted to Pledgee in accordance with Section 2 by
Pledgor, i.e. Pledgee’s prior rights of compensation when the pledged shares are auctioned or sold.

 

     

     

    

 

		1.2.	“Stock Equity” means all current and future shares of Party C held by Pledgor .

 

		1.3.	“Pledge Period” means the period starts from the effective date of this Agreement and
ends in the termination date of all cooperation documents.

 

		1.4.	“Event of Default” has the meaning set out in Section 7.

 

		1.5.	“Default Notification” means a notification declaring event of default under this agreement
sent by pledgor.

 

		2.	Pledge 

 

Pledgor hereby agrees to pledge all current
and future shares of Party C held by Pledgor to Pledgee, in order to guarantee that Pledgor and/or Party C will fulfill responsibilities
and obligations, and will let Pledgee obtain all rights and interests under the following Agreements:

 

		a.	Exclusive Management Consulting and Technology Service Agreement dated as of July 13, 2017
and its supplemental agreements (if available) between Pledgee and Party C.

 

		b.	Exclusive Purchase Agreement dated as of July 13, 2017 and its supplemental agreements (if
available) among Pledgee, Pledgor and Party C.

 

		c.	Shareholder Voting Right Authorization Agreement dated as of July 13, 2017 and its supplemental
agreements (if available) between Pledgee and Pledgor.

 

Collectively, the “cooperation agreements”.

 

		3.	Pledge Registration 

 

Pledgor and Party C should register the
pledged securities in Party C’s shareholder list within three (3) Business Days after signing this Agreement, and submit
application for pledge registration to relevant government departments within ten (10) Business Day after signing this Agreement.

 

All parties hereby acknowledges and agrees
that all parties, together with other shareholders of Party C should provide this Agreement or an equity pledge agreement (the
“Administrative Pledge Agreement”) faithfully reflecting pledge information under this Agreement to industrial and
commercial administrative department as requested by local administrative departments, in order to complete administrative registration
procedure. For items not stated in the Administrative Pledge Agreement, this Agreement shall prevail. Pledgor and Party C should
submit all necessary documents and complete all necessary procedures as requested by industrial and commercial administrative department
under laws and regulations of China, in order to obtain registration as soon as possible after submitting application.

 

     

     

    

 

In the event of failure to complete equity
pledge registration because of administrative departments, Pledgor and Party C hereby promise: once the administrative departments
agrees to issue pledge registration, Pledgor and Party C shall make best efforts to apply for pledge registration in time.

 

		4.	Custody 

 

Pledgor should deliver the investment certificate
issued by Party C to Pledgee for custody within three (3) Business Days after signing this Agreement, Party C should also deliver
the shareholder list with pledge information to Pledgee for custody. Pledgee will keep these materials in the period of pledge
under this Agreement.

 

		5.	Pledgor Statements and Guarantee

 

		5.1.	Pledgor is the sole legal owner of the pledged shares.

 

		5.2.	Pledgee has the right to dispose or transfer the pledged shares in accordance with this Agreement.

 

		5.3.	There are no liens, mortgages, encumbrance or the like, against the pledged shares, except for
the pledge stated herein.

 

		6.	Pledgor’s Commitment and Confirmation

 

		6.1.	In the effective period of this Agreement, Pledgor promises to Pledgee that Pledgor will:

 

		6.1.1.	Not transfer pledged shares or add any collateral or other liabilities against the pledged shares
without written consent of Pledgee except for conducting Exclusive Purchase Agreement signed among Pledgor, Pledgee and Party C.

 

		6.1.2.	Comply with and execute any laws and regulations about pledge rights. After receiving notification
on pledge rights issued by relevant administrative departments, Pledgor shall present the said notification , guidance or suggestion
to Pledgee within three (3) Business Days, follow the said notification, guidance, or suggestion, or put forward objections and
statements in accordance with reasonable requirements of Pledgee or with Pledgee’s consent.

 

		6.1.3.	If Pledgor receives any events or notifications that will impact any equity or any partial rights,
or will impact Pledgor’s commitments, obligations or execution of its obligations, Pledgor shall notify Pledgee in no time.

 

		6.2.	Pledgor agrees that the collateral rights obtained by Pledgee in accordance with this Agreement
should not be interrupted or jeopardized by Pledgor or other persons through legal procedures. Pledgor guarantees to have made
any proper arrangements and signed any necessary to ensure execution of this Agreement will not be adversely affected or hindered
by Pledgor’ s successor, guardian, creditor, spouse or other third parties for Pledgor’ s death, loss of legal capacity,
bankruptcy, divorce, or any other situations.

 

     

     

    

 

		6.3.	Pledgor guarantees to Pledgee that Pledgor will sign honestly and promote other relevant parties
to sign all right certificates , covenant as requested by Pledgee and/or take actions and promote other relevant parties to take
actions as requested by Pledgee, and to facilitate the execution of rights and authorizations granted to Pledgee, sign all documents
about shares ownership with Pledgee or its designee, and provide Pledgee with all notifications, orders and decisions about collateral
rights.

 

		6.4.	Pledgor guarantees to Pledgee that Pledgor will not take any dividends as of the pledged shares,
such dividends should be deposited in designated bank account of Pledgor and will be used to pay off or charge against guaranteed
liabilities in priority.

 

		6.5.	In the effective period of this Pledge Agreement, if Party C is liquidated or stops operation for
any reason and allocated any properties or assets to Pledgor, such properties or assets should be delivered to Pledgee and used
to pay off or charge against guaranteed liabilities in priority.

 

		6.6.	Pledgor guarantees to comply with and conduct any guarantees, commitments, agreements, statements
and conditions under this Agreement. If Pledgor does not conduct all or part of its guarantees, commitments, agreements, statements
and conditions, Pledgor shall compensate Pledgee any loss thus caused.

 

		7.	Event of Default

 

		7.1.	The following events shall be deemed as event of default:

 

		7.1.1.	Pledgor or Party C failed to fulfill responsibilities under any of the cooperation agreements timely
and completely.

 

		7.1.2.	Pledgor or Party C materially breached any terms or conditions of this Agreement.

 

		7.1.3.	Pledgor transfer or intents to transfer the pledged shares without written consent of Pledgee.

 

		7.2.	If Pledgor knows or finds any event described in Subsection 7.1 or any event possibly lead to occurrence
of any event described in Subsection 7.1, Pledgor should notify Pledgee in written format immediately.

 

		7.3.	Unless the event of default has been remedied as requested by Pledgee within twenty (20) days after
receiving notification from Pledgor, Pledgee has the right to execute collateral rights in accordance with Section 8 of this Agreement
or under appropriate law.

 

     

     

    

 

		8.	Execution of Collateral Rights 

 

		8.1.	In the event of default as stated in Subsection 7.1 of this Agreement or other events defined as
event of default by law, Pledgee has the right to auction, sell or dispose the pledged shares in other ways under proper law of
People’s Republic of China.

 

		8.2.	If Pledgee disposes pledged shares under this Agreement, Pledgor and Party should provide necessary
assistance.

 

		9.	Transfer 

 

		9.1.	Pledgor has no rights to transfer rights and obligations under this Agreement without prior consent
from Pledgee.

 

		9.2.	This Agreement shall have binding force on Pledgor and its successor and authorized assignee, and
is effective on and its successors and assignees.

 

		9.3.	Pledgee shall transfer its rights and obligations under the cooperation agreements to its assignee
from time to time. In that case, the assignee have the same rights and obligations under this Agreement as the original Pledgee
should have. If Pledgee transfers its rights and obligations under this Agreement, Pledgor should sign agreements and/or documents
about transfer as requested by Pledgee.

 

		9.4.	As Pledgee changes because of transfer, Pledgor should sign a new Pledge Agreement with the new
Pledgee as requested by Pledgee and register at relevant administrative departments. The content of the new Pledge Agreement should
be the same as content in this Agreement.

 

		9.5.	Pledgor should strictly comply with terms under this Agreement and other cooperation agreements,
fulfill obligation under all agreements. Pledgor will not actively or negatively take any action which could impact the effectiveness
and coerciveness of this Agreement. Pledgor should not keep any rights of the pledged shares unless with Pledgee’s written
instruction.

 

		10.	Termination 

 

This Agreement will terminate at the date
when cooperation agreements terminate. All parties should make proper arrangements in advance to assist Pledgee with pledge removal
procedure.

 

		11.	Fees 

 

Any fees and actual expenditures related
to this Agreement, including without limitation, legal fees, cost of production, stamp duty and other taxes, expenses will be borne
on Party C.

 

     

     

    

 

		12.	Confidentiality

 

All parties agree and acknowledge that
content in this Agreement, and any oral or written materials exchanged among all parties in preparation of this Agreement shall
be deemed as confidential information. All confidential information thereof will be maintained confidential and will not be disclosed
or reproduced in any manner whatsoever to any third parties without written consent of the other party, except: (a) any information
disclosed or will be disclosed to the public (information not disclosed to the public by one part without authorization only);
(b) any information should be disclosed in accordance with applicable laws and regulations, stock exchange rules, or order by government
or court; or (c) any information that needed to be disclosed to shareholders, investors, legal or financial consultant regarding
transaction in this Agreement, while shareholders, investors, legal or financial consultant should comply with confidentiality
clauses as well. Each side should be liable for breaching the contract if staff of or agencies hired by this side breached the
confidentiality clauses. This section will survive termination of this Agreement.

 

		13.	Governing Law and Dispute Resolving

 

		13.1.	This Agreement shall be concluded, executed, interpreted, construed, conducted, amended, terminated
according to the laws of People’s Republic of China. Disputes
shall be resolved according to the laws of PRC.

 

		13.2.	If any disputes caused by interpreting and conducting this Agreement arises, all parties of this
Agreement shall settle the disputes through friendly negotiation in the first place. If the disputes remain unresolved 30 days
after one party send written request to resolve the disputes to the other party, any party shall submit relevant disputes to China
International Economic and Trade Arbitration Commission (the “Commission”
or “CIETAC”).
The disputes shall be resolved solely and exclusively by means of arbitration to be conducted in Hangzhou, in Chinese language.
The decision of arbitration is final and has binding force on all parties.

 

		13.3.	To the extent permitted by law, all parties agree and authorize that the said arbitration agency
has the right to make adjudication to take shares or assets of Party C as compensation, to issue injunction(if needed for business
operation or mandatory assets transfer), or to make adjudication to liquidate Party C.

 

		13.4.	To the extent permitted by law, while the arbitration court is being built or in proper conditions,
all parties agree and authorize that jurisdiction court has the right to enact provisional measures to support arbitration process.

 

		13.5.	While any dispute caused by interpreting and conducting this Agreement is in process of arbitration,
all parties of this Agreement shall continue to execute other rights and fulfill other obligations under this Agreement other than
the issue in dispute.

 

     

     

    

 

		14.	Notification 

 

		14.1.	Any notice or correspondence under this Agreement shall be deemed served upon delivery by personal
delivery, registered mail, pre-paid postage or business express or fax to the address hereunder. Each notice should be sent by
email as well. The effective delivery date is defined as follows:

 

		14.2.	If the notice is sent though personal delivery, express service or registered mail, pre-paid postage,
the date of reception or rejection at the notice address will be deemed as Delivery Date.

 

		14.3.	If the notice is sent by fax, the date of success delivery will be deemed as effective Delivery
Date (proved by sending information automatically generated).

 

		14.4.	Notice addresses of both parties are as follows:

 

Party A : Shanghai Jiamu Investment Management
Co., Ltd,

Address:
F11, Building T3, Herui Technology Park, No. 475 Changhe Road, Binjiang District, Hangzhou City.

Consignee: Yan Sun

Telephone: +86-0571-87555830

Fax: +86-0571-87555826

 

Party B: Zhengyu Wang and Wangfeng Yan

Address:
F11, Building T3, Herui Technology Park, No. 475 Changhe Road, Binjiang District, Hangzhou City.

Telephone: +86-0571-87555829

Fax: +86-0571-87555826

 

Party C: Hangzhou Wangbo Investment Management
Co., Ltd.

Address:
F11, Building T3, Herui Technology Park, No.475 Changhe Road, Binjiang District, Hangzhou City.

Consignee: Yiyue Ye

Telephone:+86-0571-87555801

Fax: +86-0571-87555826

 

		14.5.	Any party can send notice to the other parties to change the notice address according to this section.

 

		15.	Severability 

 

If one or more provisions of this Agreement
is adjudicated invalid, illegal or unenforceable by any law or regulation, the validity, legality and enforcement of other provisions
of this Agreement will not be affected or damaged. All parties should negotiate friendly to substitute legal and valid provisions
to the maximum expectation of both sides for invalid, illegal or unenforceable provisions. Economic effects produced by such valid
provisions should be similar with that produced by those invalid, illegal or unenforceable provisions as much as possible.

 

		16.	Attachments

 

Any attachments listed in this Agreement
shall be an integral part of this Agreement.

 

		17.	Effectiveness

 

		17.1.	Any amendments, supplements or change to this Agreement shall be effective with written documents
signed or stamped by all parties.

 

		17.2.	This Agreement is made in quadruplicate with all parties herein holding one copy each. All copies
have the same legal effect.

 

[PORTION OF PAGE INTENTIONALLY LEFT BLANK]

 

     

     

    

 

IN WITNESS WHEREOF, the parties have caused
this Agreement to be executed by their respected Officers, thereunto duly authorized as of the date first above written.

 

	PARTY A: Shanghai Jiamu Investment Management Co., Ltd, 
		/s/ Corporate Chop	 
	 	 
	Signature:	 	 
	 	 
	By:	 /s/ Zhengyu Wang	 
	Name: Zhengyu Wang	 
	Designation: Executive Officer & General Manager
	 	 
	Party B: Zhengyu Wang and Wangfeng Yan	 
	 	 
	Signature:	 /s/ Zhengyu Wang	 
	 	 	 
	 	 /s/ Wangfeng Yan	 
	 	 
	PARTY C: Hangzhou Wangbo Investment Management Co., Ltd.
	 	/s/ Corporate Chop	 
	 	 
	Signature:	 	 
	 	 
	By:	 /s/ Zhengyu Wang	 
	Name: Zhengyu Wang	 
	Designation: Executive Officer & General ManagerExhibit 10.3

 

Exclusive Management Consulting and

Technology Service Agreement

 

Between

 

Shanghai Jiamu Investment Management Co.,
Ltd,

 

And

 

Hangzhou Wangbo Investment

Management Co., Ltd.

 

July 13, 2017

 

     

     

    

 

Exclusive Management Consulting and

Technology Service Agreement

 

This Exclusive Management Consulting and
Technology Service Agreement (“This Agreement”) is made and entered into this 13th day of July, 2017 in
Hangzhou, People’s Republic of China (“PRC”).

 

BETWEEN: 

 

Party A: Shanghai Jiamu Investment Management
Co., Ltd, a foreign-owned enterprise established that exists under the law of PRC, located in Shanghai City.

 

AND

 

Party B: Hangzhou Wangbo Investment
Management Co., Ltd.. , an LLC established and existed under the law of PRC, located in Hangzhou City.

 

Each Party “A” or “Party
B”, collectively “both parties”.

 

WHEREAS,

 

1. Party
A is a foreign-owned company registered in PRC, it owns necessary resources to provide supporting services such as technology or
management consulting service and intellectual property license, etc.

 

2. Party
B is a company registered in PRC, and it is engaged in producing and selling of new energy automobiles (“Major Business”)under
appropriate approval by relevant government departments of PRC.

 

3. Party
A agrees to provide Party B with exclusive technical and commercial support, management consulting service about Major Business
of Party B. Party B agrees to accept consulting and other services provided by Party A or its designated party under this agreement.

 

NOW THEREFORE, towards decision-making
by consensus, both parties agree as follows:

 

1. Service Provided 

 

		1.1	Pursuant to terms and condition of this Agreement, Party
B hereby appoints Party A as its exclusive service provider providing comprehensive management consulting, technical supporting,
intellectual property license and other relevant services, including all services within major business of Party B and decided
necessary from time to time by Party A, including, without limitation:

     

     

    

 

		1.1.1	Management Consulting: Draft, modify and perfect strategic
development plan, business and investment plan, product and service marketing development strategic plan, annual financial budget
plan, internal management plan, and basic management principles of Party B, supervise and urge Party B to act pursuant to these
plans and principles.

 

		1.1.2	Technical Supporting: Technical research, development,
maintenance and upgrade related to business operation of Party B; provide Party B with consulting services regarding purchasing
necessary equipment, software and hardware system; technical training and guidance to staff of Party B; other services regarding
technology in business operation of Party B.

 

		1.1.3	Intellectual Property: Party A agrees that Party B can
use intellectual properties owned by Party A and are necessary for business operation of Party B (including, without limitation:
trademarks, patents, websites, domain names, software and other intellectual properties).

 

		1.2	Party B accepts consulting and services provided by Party
A. Party B further agrees that Party B cannot acquire the same or similar consulting and/or services as set in this agreement
from any third party directly or indirectly in the term of this agreement, cannot build any cooperation relationship with any
third party regarding matters related to this Agreement, cannot enter into any transaction which will cause conflict of interest
or will adversely affect interest of Party A under this agreement, except with Party A’s written consent. Both parties agree
that Party A can designate other party (this designated party can enter into some agreements described in subsection 1.3 in this
agreement with Party B) to provide Party B with services and/or support stated in this Agreement.

 

2. Payment 

 

Both Parties
agree that Party B will pay Party A 100% of its profit after covering the deficit, paying statutory common reserve, and paying
taxes as payment to Party A (“Service Fee”) for all services provided 3 months after every fiscal year.

 

The said service fee rate can
be adjusted according to operation needs of Party B with Party A’s written consent.

 

3. Intellectual Property and Confidentiality

 

		3.1	Party A has exclusive rights and interests of any right,
interest, ownership, intellectually property, including, without limitation, copyrights, patents, claims of patent application,
software, technological know-how, trade secrets and others produced or created according to this Agreement. Party B shall sign
all appropriate documents, take all appropriate measures, submit all documents and/or applications, provide all appropriate assistance
and other necessary actions in Party A’s sole discretion, in order to endow all related ownership, rights and interests
to Party A, and/or improve Party A’s protection of such intellectual properties.

 

     

     

    

 

		3.2	Both parties agree and acknowledge that content in this
Agreement, and any oral or written materials exchanged between both parties in preparation of this Agreement shall be deemed as
confidential information. All confidential information thereof will be maintained confidential and will not be disclosed or reproduced
in any manner whatsoever to any third parties without written consent of the other party, except: (a) any information disclosed
or will be disclosed to the public (information not disclosed to the public by one part without authorization only); (b) any information
should be disclosed in accordance with applicable laws and regulations, stock exchange rules, or order by government or court;
or (c) any information that needed to be disclosed to shareholders, investors, legal or financial consultant regarding transaction
in this Agreement, while shareholders, investors, legal or financial consultant should comply with confidentiality clauses as
well. Each side should be liable for breaching the contract if staff of or agencies hired by this side breached the confidentiality
clauses. This section will survive termination of this Agreement.

 

		3.3	Both parties agree that this section will survive regardless
of modification, dissolution or termination of this Agreement.

 

4. Statements and Guarantee

 

		4.1	Party A states and guarantees as follows:

 

		4.1.1	Shanghai Jiamu Investment Management Co., Ltd, is
a foreign-owned company established and exists under the law of PRC.

 

		4.1.2	Party A has taken necessary actions, gained necessary
authorizations and approval from third party and government departments in order to sign, deliver and fulfill this Agreement;
Party A’s signature, delivery and fulfillment to this Agreement is NOT against relevant laws and regulations.

 

		4.1.3	This Agreement constitutes legal, effective, binding
force and mandatory obligation under this Agreement to Party A.

 

		4.2	Party B states and guarantees as follows:

 

		4.2.1	Hangzhou Wangbo Investment Management Co., Ltd.
is an LLC that is established and exists under the law of PRC. It obtains necessary approvals and licenses to run its major business.

 

		4.2.2	Party B has taken necessary actions, gained necessary
authorizations and approval from third party and government departments in order to sign, deliver and fulfill this Agreement;
Party B’ s signature, delivery and fulfillment to this Agreement is NOT against relevant laws and regulations.

 

     

     

    

 

		4.2.3	This Agreement constitutes legal, effective, binding
force and mandatory obligation under this Agreement to Party A.

 

5. Term and Validity 

 

		5.1	This Agreement is entered into and come into force at
the date indicated in the headline.

 

		5.2	Unless this Agreement terminates in accordance with this
Agreement or other agreements between both parties, the term of validity of this Agreement is twenty (20) years.

 

		5.3	Period of validity will automatically extend to the end
of operation period of Party A or Party B when the validity expires, except for with written notice provided by Party A to Party
B.

 

		5.4	Party B has no right to terminate this Agreement except
otherwise specified by law or stated in this Agreement.

 

6. Termination 

 

		6.1	Party B shall not terminate this Agreement in advance
within period of validity of this Agreement, except for gross negligence or fraud by Party A occurred. Nevertheless, Party A shall
terminate this Agreement at any time with thirty (30)days’ written notice prior to Party B.

 

		6.2	Rights and obligations under section 3, 7 and 8 hereof
will survive termination of this Agreement.

 

7. Governing Law and Dispute Resolving

 

		7.1	This Agreement shall be concluded, executed, interpreted,
construed, conducted, amended, terminated according to the laws of People’s Republic of China. Disputes shall be resolved
according to the laws of PRC.

 

		7.2	If any disputes caused by interpreting and conducting
this Agreement arises, both parties of this Agreement shall settle the disputes through friendly negotiation in the first place.
If the disputes remain unresolved 30 days after one party send written request to resolve the disputes to the other party, any
party shall submit relevant disputes to China International Economic and Trade Arbitration Commission (the “Commission”
or “CIETAC”). The disputes shall be resolved solely and exclusively by means of arbitration to be conducted in Hangzhou,
in Chinese language. The decision of arbitration is final and has binding force to both parties.

 

		7.3	To the extent permitted by law, both parties agree and
authorize that the said arbitration agency has the right to make adjudication to take shares or assets of Party C as compensation,
to issue injunction(if needed for business operation or mandatory assets transfer), or to make adjudication to liquidate Party
C.

 

     

     

    

 

		7.4	To the extent permitted by law, while the arbitration
court is being built or in proper conditions, both parties agree and authorize that jurisdiction court has the right to enact
provisional measures to support arbitration process.

 

		7.5	While any dispute caused by interpreting and conducting
this Agreement is in process of arbitration, both parties of this Agreement shall continue to execute other rights and fulfill
other obligations under this Agreement other than the issue in dispute.

 

8. Compensation 

 

Party B shall compensate Party A for any
loss, damage, responsibilities and fees incurred by litigation, request, or other requirements aimed at Party A produced or caused
by any consultation or services provided by Party A to Party B, in order to protect Party A from any damage, except for the loss,
damage, responsibilities, or fees are caused by gross negligence or active negligence of Party A.

 

9. Notices 

 

		9.1	Any notice or correspondence under this Agreement shall
be deemed served upon delivery by personal delivery, registered mail, pre-paid postage or business express or fax to the address
hereunder. Each notice should be sent by email as well. The effective delivery date is defined as follows:

 

		9.1.1	If the notice is sent though personal delivery, express
service or registered mail, pre-paid postage, the date of reception or rejection at the notice address will be deemed as Delivery
Date.

 

		9.1.2	If the notice is sent by fax, the date of success delivery
will be deemed as effective Delivery Date (proved by sending information automatically generated).

 

		9.2	Notice addresses of both parties are as follows:

 

Party A : Shanghai Jiamu Investment Management
Co., Ltd,

Address: F11,
Building T3, Herui Technology Park, No. 475 Changhe Road, Binjiang Disctrict, Hangzhou City.

Consignee: Yan Sun

Telephone:+86-0571-87555830

Fax: +86-0571-87555826

 

Party B: Hangzhou Wangbo Investment Management
Co., Ltd.

Address: F11,
Building T3, Herui Technology Park, No. 475 Changhe Road, Binjiang Disctrict, Hangzhou City.

Consignee: Yiyue Ye

Mobile:+86-0571-87555801

Fax: +86-0571-87555826

 

     

     

    

 

		9.3	Any party can send notice to the other party to change
the notice address according to this section.

 

10. Agreement Transfer 

 

		10.1	Party B shall not transfer its rights and obligations
under this Agreement to a third party, except for with written consent by Party A in advance.

 

		10.2	Party B agrees hereby, Party A can transfer its rights
and obligations under this Agreement to a third party when needed with only written notice to Party B and without consent in any
from Party B.

 

11. Severability

 

If one or more provisions of this Agreement
is adjudicated invalid, illegal or unenforceable by any law or regulation, the validity, legality and enforcement of other provisions
of this Agreement will not be affected or damaged. Both parties should negotiate friendly to substitute legal and valid provisions
to the maximum expectation of both sides for invalid, illegal or unenforceable provisions. Economic effects produced by such valid
provisions should be similar with that produced by those invalid, illegal or unenforceable provisions as much as possible.

 

12. Amendment
and Supplements 

 

Both parties shall make amendments and
supplements to this Agreement in written agreements form. Signed amendment agreements and supplement agreements related to this
Agreement constitute this entire Agreement and have the same legal effect with this Agreement.

 

13. Language
and Counterparts 

 

This Agreement is made in duplicate with
both parties herein holding one copy each. Both copies have the same legal effect.

 

[PORTION OF PAGE INTENTIONALLY LEFT BLANK]

 

     

     

    

 

IN WITNESS WHEREOF, the parties have caused
this Agreement to be executed by their respected Officers, thereunto duly authorized as of the date first above written.

 

	PARTY A: Shanghai Jiamu Investment Management Co., Ltd, 	 
	 	 
	Signature:	/s/ Corporate Chop	 
	By:	/s/ Zhengyu Wang	 
	Name:	Zhengyu Wang	 
	Designation: 	Executive Officer and General Manager	 
	 	 
	PARTY B: Hangzhou Wangbo Investment Management Co., Ltd.	 
	 	 
	Signature:	/s/ Corporate Chop	 
	By:	/s/ Zhengyu Wang	 
	Name:	Zhengyu Wang	 
	Designation: 	Executive Officer and General Manager

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