Document:

EXHIBIT 4.10

 

No.: Yuejiao Yinshao 2019 Fixed Asset Loan
No. 002

 

 

 

Fixed Assets Loan Contract

 

 

Bank of Communications Company Limited

 

 

 

    	 

    	 

    

 

No.: Yuejiao Yinshao 2019 Fixed Asset Loan
No. 002

 

 

Fixed Assets Loan Contract

 

 

 

Important Tip

The borrower is requested to read the
full text of this contract carefully, especially the terms marked with “▲▲”. If in doubt, please apply to the
lender for explanation in time.

 

In view of the fact that the borrower applies
to the lender for a fixed assets loan, in order to clarify the rights and obligations of both parties, the borrower and the lender have
made this contract through consultation.

 

Article 1 Definitions

1.1 "Bank Working Days" and "Working
Days" refer to the opening business days of the bank-to-public business at the place where the lender is located, excluding statutory
holidays and rest days (except those operating due to holiday adjustment). If performance days of obligations such as loan date, repayment
date, interest payment date and maturity date meet a non-bank working day, it shall be postponed to the next bank working day accordingly.

 

1.2 The terms such as related parties,
related party transactions and major investors have the same meaning as the same words in the Accounting Standards for Enterprises
No. 36-- Related Party Disclosure issued by the Ministry of Finance (Finance and Accounting [No. 200613] and subsequent amendments
to the standards.

 

Article 2 Calculation and Payment of Interest
Rate and Interest

2.1 Basic Rules for Determining Interest
Rates

2.1.1 The interest rate shall be agreed
upon by the borrower in the Application for Use of the Loan Limit of the Bank of Communications (hereinafter referred to as the "Application
for Limit Use ") after negotiation between the two parties. Unless both parties agree on a specific amount of interest rate in
the Application for Limit Use, the specific interest rate of each loan shall be determined according to the type of benchmark interest
rate agreed in the Application for Limit Use, the date of application of the base interest rate, the floating range / plus (minus)
value of the interest rate, floating rules of interest rate, floating cycle of interest rate, floating cycle unit of interest rate and
the specific date from which the floating begins (if necessary).

    	 

    	 

    

 

2.1.2 The category and definition of "benchmark
interest rate": 1 "Benchmark Loan Rate of the People's Bank of China" refers to the benchmark loan rate of RMB loans of
financial institutions announced by the People's Bank of China; (2) LPR quotation of Bank of Communications refers to the quoted base
interest rate of loans published by Bank of Communications Co., Ltd on its official website; (3) The average interest rate of LPR refers
to the base interest rate of loans issued by the National Interbank lending Center.

2.1.3 If the loan currency is RMB, daily
interest rate = monthly interest rate/30, monthly interest rate = annual interest rate/12; If the currency is Hong Kong dollar, pound
sterling and Australian dollar, daily interest rate = annual interest rate / 365; If the currency is US dollar, euro, Japanese yen and
other foreign currencies accepted by the lender, the daily interest rate = annual interest rate / 360.

▲▲2.2Interest Rate of Loan

The loan interest rate at the time of each
loan shall be determined according to the floating range / plus (minus) point value of the interest rate on the basis of the benchmark
interest rate on the applicable date of the benchmark interest rate stipulated in the Application for Limit Use. Taking the "applicable
date of the benchmark interest rate" as T-day, the benchmark interest rate used to determine the loan rate of the loan shall be determined
in accordance with the following rules:

		(1)	If the benchmark interest rate is the loan benchmark
interest rate of the People's Bank of China, the benchmark interest rate shall be the loan benchmark interest rate of the People's Bank
of China applicable on T-day.

		(2)	If the benchmark interest rate is quoted by the
LPR of the Bank of Communications, the benchmark interest rate value is the LPR value released on the latest working day before T. If
the LPR is not released on the latest working day before T day, the benchmark interest rate value is the LPR value released on the latest
working day before that date.

		(3)	If the benchmark interest rate is the average interest rate quoted by LPR, the benchmark interest rate
shall be the LPR value released on the latest working day before T. If the LPR has not been released on the latest working day before
T date, the benchmark interest rate shall be the LPR value released on the latest working day before that date.

2.3Adjustment of Interest Rates

2.3.1 If Application for Limit Use
is recorded as a fixed interest rate, the current loan shall carry out the interest rate recorded during the term of the loan.

▲▲2.3.2 If the Application
for Limit Use is recorded as a floating interest rate, the loan issued at the current time shall determine the date of adjustment
of the loan interest rate according to floating rules of interest rate, floating cycle of interest rate, floating cycle unit of interest
rate and specific date (if necessary) stipulated in the Application for Limit Use, and the adjusted interest rate shall apply from
the date of adjustment of the loan interest rate.

    	 

    	 

    

 

2.3.2.1 If the benchmark interest rate
is adjusted within the term of the loan, the period of adjustment of the loan interest rate shall be calculated from the "loan entry
date" or "specific start date" according to the "floating by loan date" or "specific start date" selected
by the floating rules of interest rate . The blank column of the floating cycle of interest rate is filled by the number of floating cycles
of interest rate, and the floating cycle units of interest rate can be chosen by day or by month. If the number of floating cycles of
interest rate is "1" and the floating cycle unit is chosen "by day", the adjustment date of the benchmark interest
rate shall be taken as the adjustment day of loan interest rate; If the floating cycle value of interest rate is filled by "3"
and the floating cycle unit is chosen "by day", then from the "loan entry date" or "specific date floating start
date", every 3rd day is the loan interest rate adjustment day. If the number of floating cycles of interest rate is filled
by "1", and the unit of floating period is chosen "by month", then from the "loan entry date" or "specific
date floating start date", every full month is the loan interest rate adjustment day. If the number of floating cycles of interest
rate is filled in "3", and the unit of floating cycle chooses "monthly", then from the "loan entry date"
or "specific date floating start date", every 3rd month is the loan interest rate adjustment day, and so on.

2.3.2.2 The loan interest rate on the adjustment
date of loan interest rate is determined on the basis of the benchmark interest rate on the loan interest rate adjustment date, and the
floating range / plus (minus) point value of the interest rate remains unchanged (except where both parties agree to adjust the floating
rate or the plus or minus point value). Taking the "adjustment date of loan interest rate " as the T-day, the benchmark interest
rate values used to determine the adjusted loan interest rates shall be determined in accordance with the following rules:

(1) If the benchmark
interest rate is the loan benchmark interest rate of the People's Bank of China, the benchmark interest rate shall be the loan benchmark
interest rate of the People's Bank of China applicable on T-day.

(2) If the benchmark
interest rate is quoted by the LPR of the Bank of Communications, the benchmark interest rate value is the LPR value released on the latest
working day before T. If the LPR is not released on the latest working day before T day, the benchmark interest rate value is the LPR
value released on the latest working day before that date.

(3) If the benchmark
interest rate is the average interest rate quoted by LPR, the benchmark interest rate shall be the LPR value released on the latest working
day before T. If the LPR has not been released on the latest working day before T date, the benchmark interest rate shall be the LPR value
released on the latest working day before that date.

▲▲2.3.3 If the " loan
benchmark interest rate of the People's Bank of China " is chosen as the benchmark interest rate, and the adjusted loan benchmark
interest rate of the People's Bank of China is a floating interest rate or the benchmark interest rate is cancelled, the two parties shall
negotiate and adjust the loan interest rate separately. However, the adjusted interest rate shall not be lower than the interest rate
applicable at that time; If the two parties have not reached an agreement on the adjusted interest rate more than one month from the date
of adjustment of the People's Bank of China, the lender shall have the right to announce that the loan is due ahead of schedule.

    	 

    	 

    

 

If the benchmark interest rate is selected
as " LPR Quotation of Bank of Communications " or "LPR quotation average interest rate", and the relevant benchmark
interest rate is cancelled in accordance with the regulatory requirements or the corresponding issuer stops releasing the benchmark interest
rate in accordance with the regulatory requirements, the two parties shall negotiate and adjust the loan rate separately, but the adjusted
interest rate shall not be lower than the interest rate applicable at that time. If the two parties have not reached an agreement on the
adjusted interest rate more than one month from the date of cancellation or suspension of the relevant benchmark interest rate, the lender
shall have the right to declare the loan maturing ahead of schedule.

▲▲2.3.4 The two parties may
adjust the fluctuation or plus or minus point value of the corresponding loan rate after reaching consensus on each loan interest rate
adjustment day.

2.4 If the loan currency is RMB, the penalty
interest rate for overdue loans shall rise by 50% according to the interest rate agreed in this contract, and the penalty interest rate
for misappropriation loans shall rise by 100% according to the interest rate agreed in this contract. If a floating rate loan meets the
adjustment of the benchmark interest rate, the lender shall have the right to adjust the penalty interest rate applicable to each loan,
and the new penalty interest rate shall be applicable from the date of adjustment of the loan interest rate stipulated in the corresponding
"Application for Limit Use".

2.5 Calculation of Interest

2.5.1 Normal interest = the interest rate
stipulated in this contract X the loan amount X occupation days

The number of occupation days is calculated
from the loan date (inclusive) to the maturity date (excluding). If the maturity date is a non-working day, the occupation days shall
be included in the extension period and the interest shall still be calculated in accordance with the provisions of this contract.

2.5.2 The penalty interest on overdue loans
and misappropriated loans shall be calculated on the basis of the amount overdue or misappropriated and from the actual number of days
(from the date of overdue or misappropriation) to the date of repayment of principal and interest (excluding).

2.5.3 In the case of a large amount of
interest / penalty interest after the decimal point, the lender will retain two places after the decimal place according to rounding.

▲▲2.6 Due to prepayment by
the borrower or early recovery of the loan by the lender in accordance with this contract, if the corresponding interest rate is not adjusted,
it shall still be carried out in accordance with the interest rate agreed in this contract.

2.7 If the currency of the loan is foreign
currency, the determination of the interest rate, the adjustment of the interest rate, the penalty interest rate for overdue and misappropriated
loan shall be determined in accordance with Article 17 of this contract.

▲▲2.8 The borrower confirms
that: In the case of loan issuance in stages under this contract, the specific interest rate of each loan granted shall be determined
in accordance with the corresponding "Application for Limit Use", different interest rates may be applied at the same time,
and the time for adjusting the interest rate of floating rate loans may also be inconsistent.

 

    	 

    	 

    

 

Article 3 Issuance and Payment of Loans

▲▲3.1 The loan under this contract
may be withdrawn in stages, provided that the sum of each withdrawal by the borrower shall not exceed the amount agreed in Article 16.
According to the agreement of this contract, if the borrower may withdraw the loan in other currencies (other than those stipulated in
Article 16.1), it shall be converted at the daily exchange rate announced by Bank of Communications Co., Ltd. For the purpose of determining
the remaining withdrawable amount, if there is no exchange rate that is directly applicable, it shall be converted by Bank of Communications
Co., Ltd. in a reasonable manner.

▲▲3.2 At the time of the borrower's
first withdrawal, the lender has the right to refuse to lend until all the following conditions are met:

		(1)	The borrower has completed the statutory formalities such as government permission, approval, approval,
filing and registration related to the loan project and loan matters and other formalities required by the lender, and the above-mentioned
formalities such as permission, approval, ratification, filing and registration shall remain valid.

		(2)	If the guarantee contract (if any) under this contract has entered into force and remains in force and
if the guarantee contract is a mortgage contract and / or a pledge contract, the security real right has been established and continues
to be valid.

		(3)	The borrower has opened a special loan account, repayment reserve account and project income account (if
any) with the lender as required by the lender.

		(4)	No significant adverse changes have taken place in the borrower's business and financial situation.

		(5)	The borrower provides the relevant documents approved by the lender that the capital of the same proportion
as the loan has been fully in place and that the actual progress of the project matches the amount of investment.

		(6)	The mode of payment of the loan conforms to the provisions of this contract. If the lender is entrusted
with the payment, the lender agrees to pay.

		(7)	Where a foreign currency loan is drawn, the borrower has provided proof that the loan conforms to the
relevant foreign exchange control policies, including, but not limited to, valid foreign exchange use certificates or registration documents.

		(8)	The time of withdrawal shall not be later than the first withdrawal date stipulated in this contract.

		(9)	There is no negative change in the main economic and technical indicators of the loan project, and the
progress of the loan project is normal.

		(10)	The "early expiration event" stipulated in this contract has not occurred.

    	 

    	 

    

 

▲▲3.3Prior to each subsequent
withdrawal, the lender shall have the right to refuse to lend until the following conditions are met:

		(1)	The matters and documents listed in item (1), (2) and (7) of Article 3.2 shall remain in force;

		(2)	The borrower provides the relevant documents approved by the lender that the capital of the same proportion
as the loan has been fully in place and that the actual progress of the project matches the amount of investment.

(3) The mode
of payment of the loan conforms to the provisions of this contract. If the lender is entrusted with the payment, the lender agrees to
pay.

(4) No significant
adverse changes have taken place in the borrower's business and financial situation;

(5) The time of withdrawal shall not be
later than the final withdrawal date agreed in this contract.

(6) There
is no negative change in the main economic and technical indicators of the loan project, and the progress of the loan project is normal.

(7) The "early expiration event"
stipulated in this contract has not occurred.

(8) Other conditions stipulated in this
contract.

3.4 If the designated loan account of the
borrower is opened with a special loan account with the lender, the issuance and payment of the loan shall be handled through that account.
The account is only used for the issuance and external payment of loan funds, and only the certificate of "Settlement Business Application"
is sold. It is not allowed to handle cheques, bills of exchange, bank acceptance and other business, and may not be used for other settlement.
When the borrower independently pays for the transfer of loan funds, it must be handled at the counter of the branch that opens an account.
The deposit interest of the account is credited to the loan repayment settlement account.

3.5 Before each withdrawal, the borrower
shall go through the relevant withdrawal procedures in advance in accordance with the time agreed in this contract, and specify the method
of payment (entrusted by the lender or paid independently by the borrower). Only one method of payment can be used for each withdrawal.

▲▲3.6 The lender's fiduciary
payment means that the lender pays the loan funds directly through the borrower's account to the borrower's counterparty for the purpose
agreed in this contract after issuing the loan in accordance with the borrower's power of attorney.

If the amount of a single payment exceeds
the independent payment limit stipulated in this contract or meets the conditions stipulated in Article 19.4 of this contract, the payment
of loan funds shall be made by the lender.

Where payment is entrusted by the lender,
the borrower shall submit to the lender Application for Limit Use, the corresponding power of attorney for payment and other materials
required by the lender (including but not limited to transaction materials such as business contracts, invoices and receipt documents)
and specify the amount of the loan and the object and amount of payment, and the amount of the loan shall be equal to the total amount
of payment to be made.

    	 

    	 

    

 

The lender shall have the right to require
the borrower, independent intermediary agencies and contractors to jointly inspect the progress of equipment construction or project construction,
and pay the loan in accordance with the joint visa documents issued and in accordance with the conditions stipulated in Article 21.

▲▲If the proposed payment by
the borrower does not comply with this contract or the corresponding business contract or has other defects, the lender has the right
to refuse to pay and return the power of attorney for payment submitted by the borrower.

▲▲ If the lender agrees to
pay, if it is unable to pay or refund the payment due to incorrect information provided by the borrower, the borrower shall resubmit the
relevant documents and materials containing the correct information within the time limit specified by the lender. If the payment is delayed
or unsuccessful, the lender shall not be held responsible.

3.7 The borrower's independent payment
means that after the lender issues the loan funds to the borrower's account in accordance with the provisions of this contract, the borrower
shall independently pay to the borrower's counterparty for the purpose agreed in this contract.

If the borrower pays independently, the
borrower shall submit to the lender Application for Limit Use, instructions for the use of the funds and other materials required
by the lender. The borrower shall report the payment of the loan funds to the lender on time. The lender shall have the right to verify
whether the loan payment conforms to the agreed purpose by means of account analysis, voucher inspection and on-the-spot investigation,
and the borrower shall cooperate with the lender's verification.

▲▲3.8 If the lender agrees
to grant the loan, the final loan information shall be based on the contents printed on the Application for Limit Use. The loan
voucher shall be replaced by the Application for Limit Use .

Article 4 Repayment of Loans

4.1 The repayment sources of the loan include,
but are not limited to, revenue, subsidy income, depreciation and other income of the borrower from the loan project. The agreement on
the source of repayment in this article shall affect the borrower's obligation to repay principal and interest in accordance with this
contract under no circumstances.

4.2 The borrower shall repay the principal
of the loan and pay interest at the time and amount stipulated in the Application for Limit Use of this contract.

The number of repayments made by the borrower
each year shall comply with the regulatory regulations.

▲▲4.3 The borrower cannot repay
the loan in advance without the written consent of the lender. If the lender agrees with the borrower to repay the loan ahead of time,
the lender shall have the right to collect liquidated damages for prepayment of the loan from the borrower in accordance with the standards
stipulated in Article 19.6.

    	 

    	 

    

 

▲▲4.4 The arrangements for
the repayment of principal and interest agreed by the borrower and the lender in Application for Limit Use are the true expressions
of intention reached by both parties on a voluntary basis after negotiation. Under the repayment arrangement chosen by both parties, whether
the principal is repaid before the interest shall not affect the borrower's liability for the repayment of the interest payable, and the
borrower shall not defend the repayment of the interest payable. Under any repayment arrangement, the borrower shall be liable for repayment
of all principal and interest payable.

▲▲4.5 When the borrower's repayment
(including the borrower's voluntary repayment and the proceeds deducted by the lender in accordance with this contract) fails to pay off
all the borrower's debts in full:

		(1)	It shall first be used to settle the unpaid expenses due for offsetting. If the principal and interest
is less than 90 days overdue, the balance after the reimbursement of the expenses shall first be used to compensate the interest or penalty
interest or compound interest that is due, and then used to compensate the principal that is due and unpaid; If the principal or interest
is more than 90 days overdue, the balance after reimbursement of expenses shall first be used to offset the principal that is due and
unpaid, and then used to offset the interest or penalty interest or compound interest that is due.

		(2)	If the borrower has multiple debts (including the borrower's debts to the lender under other contracts),
the lender has the right to determine the order of satisfaction of each debt of the borrower as long as such satisfaction order does not
violate the mandatory provisions of the applicable laws and regulations, rules and regulations and relevant regulatory requirements of
the lender. The lender shall notify the borrower of the result of repaying the debt. Unless otherwise agreed by both parties on the matters
of this paragraph.

 

Article 5 Statement and Guarantee of the
Borrower

5.1 The borrower shall be established in
accordance with the law and exist lawfully, have all the necessary rights and capabilities, be able to perform the obligations of this
contract and bear civil liability in its own name, and have the qualification of the main investor and business qualification of the loan
project.

5.2 Signing and performance of this contract
is the true expression of intention of the borrower with all necessary consent, approval and authorization, and there are no legal defects.

5.3 All documents, statements, materials
(including transaction materials with counterparties) and information provided by the borrower to the lender in the process of applying
for the loan and signing and performing this contract are true, accurate, complete and valid, and there is no omission or concealment
of any information that may affect the lender's evaluation of his financial position, repayment ability and loan project. There has been
no significant adverse change in the borrower's financial position since the reporting date of the latest financial statements.

    	 

    	 

    

 

5.4 The borrower has legal and compliant
production and operation, has the ability to continue to operate, has a legal source of repayment, does not involve major environmental
and social risks, and has no significant bad credit history. The senior management of the borrower has no bad record. The loan project
conforms to the national policies on industry, land and environmental protection, and complies with the legal management procedures of
fixed assets investment projects in accordance with the regulations.

▲▲5.5 Neither the borrower
nor its affiliated parties belong to enterprises or individuals on the sanctions list of the United Nations, the European Union or the
United States, and are not located in countries and regions sanctioned by the United Nations, the European Union or the United States.

 

Article 6 Rights and Obligations of the
Lender

6.1 The lender shall have the right to
recover the principal and interest of the loan (including compound interest, overdue and misappropriation of penalty interest), collect
fees payable by the borrower and exercise other rights prescribed by law or agreed upon in this contract.

6.2 The lender has the right to manage
and control the payment of loan funds in accordance with the relevant regulations and this contract, and has the right to monitor the
relevant accounts in accordance with the provisions of this contract.

▲▲6.3 In the course of the
performance of this contract, the lender shall only conduct a formal examination of the documents provided by the borrower. If the lender
fails to complete the entrusted payment in time due to the untruthfulness, inaccuracy or incompleteness of the materials provided by the
borrower or the borrower's breach of this contract, the lender shall not be held responsible.

▲▲6.4 The lender shall issue
the loan and handle the payment in accordance with the terms of this contract. If the lender fails to issue the loan or handle the payment
on time due to any of the following reasons, the lender shall not be held responsible, however, the borrower will be informed in a timely
manner: the designated loan account of the borrower is frozen, the payment account is frozen, force majeure, communication or network
failure, the lender’s system failure, etc. Unless otherwise stipulated in this contract.

 

Article 7 Obligations of Borrowers

7.1 The borrower shall repay the principal
of the loan under this contract and pay interest according to the time, amount and currency of the loan as stipulated in this contract
and the corresponding Application for Limit Use.

7.2 The borrower shall use the loan for
the purpose specified in this contract and the corresponding Application for Limit Use, shall not divert the loan under this contract
for other purposes, and shall not use the loan for equity investment or areas and purposes prohibited by the State from production and
operation. The borrower shall use the loan funds in the agreed manner and shall not avoid the entrusted payment of the lender by breaking
it into parts; If the borrower pays independently, the borrower shall use the loan within a reasonable time as required by the regulatory
authority of the lender, the payment of a single loan shall not exceed the limit stipulated in the contract.

    	 

    	 

    

 

▲▲7.3 The borrower shall bear
the settlement fee (if any) for the payment of loan (including payment entrusted by the lender and paid independently by the borrower),
and the specific charges shall be carried out in accordance with laws, regulations, rules, regulatory regulations and the list of fees
and charges of Bank of Communications Services published by the lender at that time.

Where a special loan account is opened,
when the loan are paid (including the entrusted payment by the lender and the independent payment by the borrower), the receiving account
does not belong to the account opened with Bank of Communications Co., Ltd. and the fund payment shall be handled through the payment
system of the People's Bank of China.

If the loan account is not a special loan
account, when the loan are paid (including the entrusted payment by the lender and the independent payment by the borrower), and the receiving
account is an account of another bank in other places, the fund payment shall be handled through the payment system of the People's Bank
of China.

▲▲7.4 The borrower shall cooperate
with the lender in the supervision and inspection of the use of the loan and the operation of the borrower, provide timely financial statements,
records and materials on the use of loan funds, transaction information of related parties and related parties, environmental and social
risk reports, and other materials and information required by the lender due to the needs of post-loan risk management, and ensure that
the documents, materials and information provided are true, complete and accurate.

▲▲7.5 The borrower shall notify
the lender in writing at least 30 days in advance of any of the following matters, and shall not take any action until the principal and
interest of the loan under this contract is paid off or the repayment plan and guarantee provided are approved by the lender:

		(1)	Dispose of all or most of the assets or material assets in a manner such as sell, donate, lease, lend,
transfer, mortgage and pledge.

		(2)	Significant changes have taken place or may take place in the operating system or the organizational form
of property rights, including, but not limited to, the implementation of contracting, leasing, joint venture, corporate reform, joint
stock cooperative reform, enterprise sale, consolidation (merger), joint venture (cooperation), division, establishment of subsidiaries,
equity transfer, property right transfer, capital reduction, etc.

(3) The outward
investment or substantive increase in debt financing exceeds the limit stipulated in this contract.

▲▲7.6 The borrower shall notify
the lender in writing within 7 days from the date on which the following events occur or may occur:

		(1)	The borrower or its affiliated party shall amend the articles of association, change the business registration
items such as the enterprise name, legal representative (responsible person), domicile, correspondence address or business scope, and
make decisions that have a significant impact on finance and personnel.

		(2)	The borrower, its associates or guarantors intends to file for bankruptcy or may or has been filed for
bankruptcy by creditors.

    	 

    	 

    

 

 

		(3)	The borrower or its associated parties are involved in material litigation, arbitration, administrative
measures, or, the safety and integrity of major assets, loan project assets or collateral under this contract is or may be affected or
the value may be reduced or reduced, or property preservation or other compulsory measures may be taken.

		(4)	The borrower or its affiliated parties provide guarantees to third parties and therefore have a significant
adverse impact on their economic status, financial position or ability to perform their obligations under this contract.

		(5)	Contracts signed by the borrower or its affiliated parties that have a significant impact on its business
and financial situation.

		(6)	The borrower shall pay off undue debts in advance or give priority to the payment of other maturing debts,
increase the pledge of other existing debts, etc., or make any similar arrangements or sign relevant documents.

		(7)	The borrower, its affiliated party or guarantor ceases production, goes out of business, dissolves, suspends
business for rectification, is revoked or his business license is revoked.

		(8)	The disappearance of the borrower or its affiliates, the principal investors of the borrowers or their
affiliates, the legal representatives (responsible persons), directors or principal managers of the borrowers or their affiliated parties,
violations of laws and regulations or violations of applicable exchange rules or abnormal changes.

		(9)	Serious difficulties in the operation of the borrower or its associated parties, or deterioration of the
financial situation, or other events that have a negative impact on the operation, financial condition or solvency or economic condition
of the borrower or its associated parties.

		(10)	Related party transactions occur, and the amount of the transaction reaches or exceeds 10% of the latest
audited net assets.

		(11)	Prior to the discharge of all debts under this contract, the borrower becomes or may become a shareholder
of the guarantor or an "actual controller" as defined in the Company Law.

		(12)	Any of the following situations occur during the construction of the loan project: the progress is not
carried out as planned and there is a delay; there is a quality problem; and the total investment amount is more than that planed.

		(13)	Any of the following situations occur in the operation of the loan project: the operation does not reach
the expected benefit target, the cash flow of the project operation does not meet the requirements of the project evaluation report, and
there are anomalies in the production, operation and sales of the project.

		(14)	Negative changes have taken place in the main economic and technical indicators of loan projects.

		(15)	Liability accidents caused by borrowers or their associated parties due to violations of legal provisions,
regulatory regulations, national policies or industry standards, etc., or exposure by the media.

    	 

    	 

    

 

 

		(16)	A safety or environmental accident occurred by the borrower or its associated party.

		(17)	The control and controlled relationship between the borrower's related party and the borrower has changed.

		(18)	Significant equity change on the borrower or its related party.

		(19)	The audit opinion issued by the borrower's external auditor on its financial statements is not a standard
unqualified opinion.

		(20)	The borrower is or may be investigated, punished or taken other similar measures by the competent authority
for violating laws and regulations and / or regulatory requirements.

		(21)	The borrower or its associated parties are included in the sanctions list of the United Nations, the European
Union or the United States, or their countries and regions are included in the sanctions list of the United Nations, the European Union
or the United States.

(22) Other major adverse events that affect
the solvency of the borrower or its associated parties.

▲▲7.7 In the event of a change
in the guarantee under this contract that is not conducive to the creditor's rights of the lender, the borrower shall provide other guarantees
approved by the lender in a timely manner as required by the lender.

The term "change" in this paragraph
includes, but is not limited to, the guarantor's merger, division, suspension, closure, dissolution, closure and rectification, revocation,
revocation of business license, application for or bankruptcy; significant changes in the operating or financial position of the guarantor;
guarantors involved in major litigation, arbitration, administrative measures, or property preservation or other coercive measures taken
of major assets. The safety and integrity of the guaranty is or may be affected; the value of the guaranty is reduced or may be reduced
or property preservation is taken; the guarantor or his legal representative (responsible person) or the main management personnel are
involved in violating the rules of the exchange or violating the applicable rules of the exchange; if the guarantor is an individual,
the guarantor is missing or dead (declared dead); the guarantor is in breach of contract under the guarantee contract. There is a dispute
between the guarantor and the borrower; the guarantor requests to terminate the guarantee contract; the guarantee contract is not effective
or invalid or revoked; the security real right is not established or invalid; or other events that affect the security of the lender's
creditor's rights.

▲▲7.8 The borrower undertakes
that the borrower's financial indicators, external agency rating and production and operation qualification / license will always comply
with the contract stipulation from the date of signing of this contract to the completion of the repayment of all principal and interest
and related fees under this contract. If the production and operation qualification / license needs an annual review, it shall pass the
annual review on time.

7.9 Borrowers guarantee to abide by the
requirements of national anti-money laundering laws, regulations and relevant policies, and not to engage in activities involving money
laundering and terrorist financing, actively cooperate with lenders in anti-money laundering work such as customer identification, transaction
record keeping, large and suspicious transaction reports, etc.

    	 

    	 

    

 

7.10 The borrower warrants that the borrower
and its employees and agents shall not provide, give, solicit or accept any form of material benefits (including, but not limited to,
cash, physical cards, travel, etc.) or other non-material benefits to the lender or the lender's employees in any form other than those
stipulated in this contract, and shall not use the funds or services provided by the lender in any form directly or indirectly for activities
related to corruption or bribery. If the borrower is aware of any violation of this Article, it shall provide the lender with clues and
relevant information truthfully, completely and accurately, and cooperate with the relevant matters in accordance with the requirements
of the lender.

▲▲7.11 Prior to the full repayment
of the principal and interest of the loan, the borrower undertakes that the loan project will always meet the following requirements:

		(1)	The progress of the project does not lag behind the progress of the use of funds.

		(2)	Other funds for construction projects shall be in full and on time, and shall be used in the same proportion
as the loan funds.

		(3)	The environmental protection facilities of the project should be designed, constructed and put into production
at the same time as the main project;

		(4)	The project conforms to the national regulations on energy conservation and emission reduction.

		(5)	Pass the environmental assessment examination and approval of project in time after the completion of
the project.

Article 8 Insurance

8.1 The borrower shall take out commercial
insurance for the fixed assets project, and the lender shall be the first beneficiary of the commercial insurance insured by the project.
After the insurance formalities have been completed, the borrower shall deliver the original policy to the lender for safekeeping.

8.2 During the validity of this contract,
the borrower shall pay all premiums on time and perform such other obligations as are necessary to maintain the effective existence of
the insurance.

▲▲8.3If the borrower fails
to take out or renew the insurance, the lender shall have the right to take out or renew the insurance on his behalf, pay the premium
or take other insurance maintenance measures on his behalf. The borrower shall provide the necessary assistance and bear the insurance
fees and related expenses incurred by the lender.

 

▲▲ Article
9 early maturity and risk repricing of loans.

 

9.1 Any of the following circumstances
shall be regarded as an "early expiration event" of this contract:

(1) Where the borrower fails to repay the
principal or interest of the loan as agreed in any of Application for Limit Use under this contract.

    	 

    	 

    

 

(2) The statements and warranties made
by the borrower under this contract are not true.

(3) One of the matters listed in Article
7.6 that should be notified actually occurs and affects or may affect the safety of the lender's claims.

(4) When performing other contracts with
the lender or contracts with a third party, the borrower has committed a breach of contract or the debt may or has been declared to be
due ahead of schedule.

(5) Where the loan granted by the lender
in accordance with this contract constitutes or may constitute a violation or violation due to changes in laws, regulations and regulatory
policies.

(6) The borrower violates other stipulations
in this contract.

9.2 In the event of any "early maturity
event", the lender has the right to take one, more or all of the following measures:

(1) Stop issuing loans that have not yet
been drawn by the borrower.

(2) Stop making payments for loans that
have been drawn by the borrower but have not yet been used.

(3) The borrower is required to negotiate
supplementary loan issuance and payment conditions with the lender within a limited time limit.

(4) The borrower is required to change
the method of payment and open a special loan issuance account according to the requirements of the lender.

(5) Risk repricing of executed loans in
accordance with Article 9.3.

(6) Unilaterally declare that all the principal
of the loans granted under the contract are due ahead of schedule and require the borrower to immediately repay the principal of all loans
due and pay off the interest.

9.3 According to the production and operation
of the borrower at the time of signing this contract and the operation of the project, the interest rate agreed upon in this contract
and its adjustment are determined by both parties through consultation. The borrower agrees that in the event of any "early maturity
event", the lender has the right to reprice the risk of the loan as agreed in this Article.

9.3.1 Risk repricing includes negotiated
repricing and direct increase of the loan interest rate. The risk repricing method adopted in this contract shall be agreed upon by both
parties in Article 22.

9.3.2 "Negotiated repricing"
means that the lender has the right to require the borrower to negotiate with the lender to increase the loan interest rate within a limited
time limit, and the parties shall determine the "repricing date" and the specific agreement of the relevant interest rate by
way of a supplementary agreement.

9.3.3 "Direct increase of loan interest
rate" means that the lender has the right to directly increase the loan interest rate in accordance with this Article and Article
22.

9.3.3.1 From the "repricing date"
notified by the lender in writing, the increased loan interest rate shall be applied to the borrower's outstanding loans as of the "repricing
date".

    	 

    	 

    

 

9.3.3.2 If the currency of the loan is
RMB, the type of benchmark interest rate stipulated in the contract shall remain unchanged, and the raised loan interest rate shall be
determined according to the upper (lower) floating range / plus (minus) point value agreed in Article 22 on the basis of the "repricing
date" benchmark interest rate.

Taking the "repricing date" as
the T-day, the benchmark interest rate used to determine the increased loan interest rate shall be determined in accordance with the following
rules:

		1	If the benchmark interest rate is the loan benchmark
interest rate of the People's Bank of China, the benchmark interest rate shall be the People's Bank of China loan benchmark interest rate
applicable on T-day.

		2	If the benchmark interest rate is quoted by the
LPR of the Bank of Communications, the benchmark interest rate value is the LPR value released on the latest working day before T. If
the LPR is not released on the latest working day before T day, the benchmark interest rate value is the LPR value released on the latest
working day before that date.

		3	If the benchmark interest rate is the average
interest rate quoted by LPR, the benchmark interest rate shall be the LPR value released on the latest working day before T. If the LPR
has not been released on the latest working day before T date, the benchmark interest rate shall be the LPR value released on the latest
working day before that date.

9.3.3.3 If the currency of the loan is
foreign currency, the interest rate after the increase shall be determined in accordance with Article 22.

9.3.4 After the lender performs risk repricing
in accordance with the aforementioned agreement, the new interest rate shall be implemented from the repricing date. On the basis of this
interest rate, the floating adjustment shall still be made in accordance with Article 2 of this contract. If both parties agree to change
the relevant agreement, it shall be carried out in accordance with the agreement after the change. If the loan is overdue (including the
borrower's failure to repay the loan on time or declared to be due in advance by the lender) or misappropriated, the penalty interest
rate for overdue and misappropriated interest shall be determined on the basis of the new interest rate (including the floating adjusted
interest rate agreed in this contract), the interest rate for calculating compound interest shall also be adjusted accordingly.

9.3.5 The implementation of "risk
repricing" shall not be regarded as or construed as a waiver by the lender of other rights stipulated in laws and regulations and
agreed in this contract. The lender has the right to take other measures for the protection of creditor's rights in accordance with laws
and regulations and this contract, including, but not limited to, the measures stipulated in Article 9.2.

▲▲ Article 10 Breach of Contract

10.1 If the borrower fails to repay the
principal of the loan on time and in full, pays interest or fails to use the loan for the purpose agreed in this contract, the lender
shall charge interest at the penalty interest rate of the overdue loan or the penalty interest rate of misappropriation of the loan, and
shall charge compound interest on the unpaid interest payable, if the penalty interest rate is adjusted in accordance with the contract,
the interest rate for calculating compound interest shall be adjusted accordingly.

    	 

    	 

    

 

10.2 If the borrower fails to repay the
principal and interest of the loan in full and on time, it shall bear the reminder fees, litigation fees (or arbitration fees), preservation
fees, announcement fees, execution fees, legal fees, travel expenses and other expenses paid by the lender in order to realize the creditor's
rights.

▲▲ Article 11 Deduction Agreement

11.1 Borrower’s authorization: When
there are principal, interest, penalty, compound interest or other fees due and payable, the lender shall have the right to deduct the
funds from any account opened by the borrower with all branches of Bank of Communications Co., Ltd for settlement.

11.2 After deduction, the lender shall
notify the borrower of the account number involved in the deduction, the contract number, the "Application for Limit Use" number,
the amount of deduction and the remaining amount of debt.

11.3 If the deduction is insufficient to
pay off all the borrower's debts, the debt offset shall be determined in accordance with this contract.

11.4 If the deduction is inconsistent with
the currency of the debt to be offset, it shall be converted into the amount of debt satisfaction according to the exchange rate announced
by Bank of Communications Co., Ltd at the time of deduction. If it is necessary to go through the formalities of settlement and sale of
foreign exchange or foreign exchange, the borrower shall have the obligation to assist the lender as required by the lender, and the exchange
rate risk shall be borne by the borrower.

Article 12 Notification

12.1 The contact information (including
mailing address, contact telephone number, fax number, etc.) filled in by the borrower in this contract is true and valid. If any contact
information is changed, the borrower shall immediately send / send the change information in writing to the lender's mailing address in
this contract. Such changes will take effect upon receipt of the change notice by the lender.

12.2 Unless otherwise expressly stipulated
in this contract, the lender shall have the right to give any notice to the borrower by any of the following means. The lender shall have
the right to choose the manner of notification as it deems appropriate and shall not be liable for transmission errors, omissions or delays
in mail, fax, telephone or any other communication system. Where the lender chooses multiple forms of notification at the same time, the
faster of which reaches the borrower shall prevail.

(1) A public notice shall be deemed to
be the date on which the lender publishes the announcement on its website, online banking, telephone bank or business outlet.

(2) Personal service shall be regarded
as the date of service on the date of signature of the borrower.

(3) Delivery by post (including EMS, plain
mail and registered mail) to the borrower's most recent known mailing address shall be deemed to be the date of delivery on the 3rd
(same city) / 5th (remote place) after the date of posting.

    	 

    	 

    

 

(4) Fax, mobile phone text messages or
other electronic means of communication shall be served on the borrower's fax number recently known to the lender, the mobile phone number
designated by the borrower or the e-mail address, and the date of delivery shall be deemed to be the date of service.

12.3 The borrower agrees that unless the
lender receives written notice from the borrower of the change of correspondence address, the correspondence address given by the borrower
in this contract is the address at which the court served judicial documents and other written documents on the borrower. In the process
of dispute settlement of this contract, where the court sends judicial documents or other written documents by post (including express
mail, ordinary mail, registered mail) to the borrower's most recent known correspondence address of the borrower, the date on which the
borrower signs and receives the certificate of service shall be the date of service; if the borrower fails to sign it on the certificate
of service, the date of delivery shall be deemed to be the 3rd (same city) / 5th (different place) after the date
of mailing.

In addition to judgments, orders and conciliation
statements, the court shall have the right to give any notice to the borrower through any of the means of communication stipulated in
Article 12.2. The court shall have the right to choose such mode of communication as it thinks fit without liability for transmission
errors, omissions or delays in mail, facsimile, telephone, telex or any other communication system. If the court chooses multiple means
of communication at the same time, the faster of which reaches the borrower shall prevail.

▲▲ Article 13 Disclosure and
Confidentiality of Information

13.1 With regard to the undisclosed information
and materials of the borrower obtained and known during the signing and performance of this contract, the use of the relevant information
and materials by the lender shall not violate laws, regulations and regulatory requirements, and shall bear the responsibility of confidentiality
in accordance with the law, such information and materials shall not be disclosed to third parties, except in the following cases:

(1) Where disclosure is required by applicable
laws and regulations;

(2) Where disclosure is required by the
judiciary or regulatory body according to law.

(3) If the borrower fails to repay the
principal and / or interest of the loan in full and on time, the lender shall disclose to the external professional adviser of the lender
and allow the external professional adviser of the lender to use it on a confidential basis in order to realize the claim under this contract.

(4) The borrower consents or authorizes
the lender to make disclosure.

13.2 The borrower confirms that he has
signed the Credit Information Enquiry and Provision of Authorization. The lender shall inquire, use and keep the credit information of
the borrower within the scope specified in the power of attorney.

13.3 Except in the circumstances specified
in Article 13.1 and 13.2 of this contract, the borrower further agrees that Bank of Communications Co., Ltd. may use or disclose the borrower's
information and materials under the following circumstances, including, but not limited to, basic information, credit transaction information,
adverse information and other relevant information and materials, etc., and is willing to bear all consequences arising therefrom:

    	 

    	 

    

 

Disclose
and allow them to use such information and materials on a confidential basis to outsourcing agencies, third-party service providers, other
financial institutions and such other institutions or individuals as the lender deems necessary for the following purposes, including
but not limited to other branches of Bank of Communications Co., Ltd., or subsidiaries wholly or partly owned by Bank of Communications
Co., Ltd.: 1 In order to
carry out bank credit business or related to bank credit business such as promoting the credit business of Bank of Communications Co.,
Ltd., collecting arrears of borrowers, transferring bank credit business claims, and so on. 2
Provide or may provide new products or services or further services to
the borrower.

Whether this Article 13.3 is applicable
or not shall be subject to the agreement of both parties in Article 25 of this contract.

Article 14 Application of the Law and
Settlement of Disputes

This contract shall be subject to the laws
of the People's Republic of China (excluding the laws of Hong Kong, Macao and Taiwan for the purposes of this contract). The dispute under
the contract shall be brought before the court with jurisdiction in the place where the lender is located, unless otherwise stipulated
in this contract. During the period of dispute, the parties shall continue to implement the undisputed provisions.

Article 15 Entry into Force and Composition
of Contract

▲▲15.1 The Application for
Limit Use, the Power of Attorney for Payment and the relevant documents and materials confirmed by both parties under this
contract are an integral part of this contract.

15.2 This contract shall enter into force
after being signed (or sealed) by the legal representative (responsible person) or authorized representative of the borrower and affixed
with the official seal, signed (or sealed) by the person in charge of the lender or authorized representative and sealed by the unit.

15.3 The Application for Limit Use
is a supplement to this contract. Unless otherwise stipulated in Application for Limit Use, the rights, obligations and related
matters between the borrower and the lender shall be carried out in accordance with the provisions of this contract.

Article 16 Specific Contents of Loan

16.1 The currency of the loan: RMB,
amount (in uppercase): RMB 80 million.

16.2 The loan under this contract is limited
to the construction of the whole PPP project of domestic garbage and sewage treatment infrastructure at villages and towns of Wujiang
District.

16.3 Term of the loan: from September
30, 2019 to December 21, 2038.

16.4 The first withdrawal date shall be
no later than August 14, 2020.

The final withdrawal date of all loan funds
under this contract shall be no later than December 21, 2038.

    	 

    	 

    

 

Article 17 Interest Rate Agreement

If the currency of the loan is foreign
currency, the relevant agreements on the determination of the interest rate, the adjustment and overdue of the interest rate and the penalty
interest rate for misappropriation of the loan are as follows: /.

Article 18 Account Agreement

18.1 The borrower designates the following
account as the lending account, which is a special loan issuance account opened by the borrower with the lender. If the parties agree
otherwise in the corresponding Application for Limit Use, the agreement in Application for Limit Use shall prevail.

Household name: Shaoguan Angrui Environmental
Technology Development Co., Ltd.

Account number: [*]

Account with Bank: [*]

18.2 Where a special loan account is opened,
the borrower shall designate the following account as the loan repayment settlement account, which shall be used for the accounting and
processing of loan repayment and loan fund transfer fees.

Household name: Shaoguan Angrui Environmental
Technology Development Co., Ltd

Account number: [*]

Account with Bank: [*]

18.3 The borrower shall open a special
repayment reserve account with the lender.

Household name: Shaoguan Angrui Environmental
Technology Development Co., Ltd.

Account number: [*]

Account with Bank: [*]

18.4 The borrower undertakes not to change
or cancel the special repayment reserve account without the written consent of the lender before repaying all the principal and interest
of the loan and complies with the following agreements:

□ /% of the income and
cash flow of fixed asset investment projects must be entered into the account.

□ /% of the income cash
flow of the borrower must be entered into the account.

□The average daily stock of funds
in the account is not less than  /.

□    /    

18.5
The borrower shall □open
or □ not open a special
project income account with the lender, all project income shall be enter the account before the full loan principal and interest is repaid,
and all settlement business related to the project shall be handled in Bank of Communications Co., Ltd.

Household name: Shaoguan Angrui Environmental
Technology Development Co., Ltd.

Account number: [*]

    	 

    	 

    

 

Account with Bank: [*]

The terms and methods of external payment
of the account are as follows:     /    .

Article 19 Specific Agreements on Issuance,
Payment and Repayment of Loans

19.1 For each subsequent withdrawal, the
borrower shall not only comply with Article 3.3, but also meet the following conditions, otherwise the lender has the right to refuse
to lend:     /    .

19.2 Before each withdrawal, the borrower
must go through the relevant withdrawal procedures at least 10 bank working days in advance.

19.3
The limit of independent payment under this contract shall be RMB    /    (10,000
)(determined according
to the lower of 5% of the total investment amount of the project, RMB 5 million or other amounts required by the lender).

19.4 If one of the following conditions
is met, the lender shall be entrusted with payment:

Entrusted payment

19.5 If the borrower pays independently,
the borrower shall report the payment of the loan funds to the lender within    /    days
after the loan is issued.

19.6
If the borrower agrees to repay the loan ahead of time, the lender shall have the right to collect the loan prepayment penalty from the
borrower according to the following standards, so as to make up for the interest loss from the lender's advance repayment date to the
original maturity date:    /    .

 

Article 20 Financial Restrictions, Ratings
of External Agencies and Production and Operation Qualifications / Permits

20.1 The borrower's outbound investment
exceeds RMB / 10,000 yuan or increases debt financing by more than RMB /10,000 yuan.

20.2 Contractual agreement on the borrower's
financial indicators:

(1)    /    

(2)    /    

(3)    /    

20.3 Specific agreements on external agency
ratings:

(1)    /    

(2)    /    

20.4 Specific agreement on the production
and operation qualification / license of the borrower:

(1)    /    

(2)    /    

    	 

    	 

    

 

Article 21 Conditions of the Joint Visa
Bill 

The lender has the right to require the
borrower, independent intermediary and contractor to issue a joint visa in accordance with the following conditions:     /    .

▲▲ Article 22 Specific Agreement
on Risk Repricing

22.1 The risk repricing methods are adopted
in this contract based on (1): (1) Negotiated repricing; (2) Direct increase of the loan interest rate.

22.2 If the method of "direct increase
of the loan interest rate" is used:

22.2.1
If the currency of the loan is RMB, the floating range / plus (minus) point value of the increased interest rate shall be as follows:
口The benchmark interest
rate (no up and down floating /plus or minus point) 口Up
floating    /    % 口Down
floating     /    % 口 Plus
    /    % 口 Minus
/ %. If there is another agreement on a loan, the floating rate / plus (minus) value of the interest rate after the increase of
the loan shall be subject to the records in the applicable Application for Limit Use.

22.2.2 If the currency of the loan is foreign
currency, the interest rate after the increase is: /  .

Article 23 Contact Information

The contact information for the borrower
to receive the notice agreed in Article 12 includes:

Mailing address: Room 317, F3, Lingjiao
Enterprise Office Building, Huanggangling, Chongxia Management District, Longgui Town, Wujiang District, Shaoguan City.

Addressed to: Li Jingquan

Zip code: 512000

Phone:     /    

Mobile phone number: [*]

Fax:     /    .

Email address: [*]

Article 24 Number of Contract Shares

The original of this contract is in 8
copies, and both parties and guarantor (if any) each hold one copy.

Article 25 Other Agreed Matters 

25.1 Both parties agree that Article 13.3
shall apply to this contract.

25.2 The borrower shall annually provide
normative documents for incorporating funds paid by the government under the whole PPP project of domestic garbage and sewage treatment
infrastructure at villages and towns of Wujiang District into the fiscal budget approved by the National People's Congress for that year,
no later than 10 working days after the government payments are included in the budget. If the funds paid by the government are not included
in the current year's budget, the borrower shall be deemed to have breached the contract, and the lender shall have the right to declare
the loan maturing ahead of schedule.

    	 

    	 

    

 

25.3 The lender is the first beneficiary
of the termination compensation of thePPP project packaged in the whole area of domestic garbage and sewage treatment infrastructure at
villages and towns of Wujiang District.

25.4 Without the written consent of the
lender, the borrower shall not raise funds from a third party in the name of the whole packaged PPP project of municipal solid waste and
sewage treatment infrastructure in villages and towns of Wujiang District, and shall not provide guarantees for third parties with the
assets formed by the project.

Borrower: Shaoguan Angrui Environmental
Technology Development Co., Ltd.

Legal representative (person in charge):
Ma Xiongbing

Legal address: Room 317, F3, Lingjiao
Enterprise Office Building, Huanggangling, Chongxia Management District, Longgui Town, Wujiang District, Shaoguan City.

 

Lender: Bank of Communications Co., Ltd.
Shaoguan Branch (Branch)

Responsible person: Gao Yan

Address: Gongye Zhong Road No. 27, Wujiang
District, Shaoguan City

The borrower has read through all the
terms of the contract, and the lender has made a detailed explanation at the request of the borrower. When signing this contract, the
borrower has no doubt or objection to all the contents, and understands the meaning of the terms of the contract, especially the clause
marked with ▲▲ and its legal consequences.

 

	
    Borrower (official seal)

    Shaoguan Angrui Environmental Technology Development
    Co., Ltd.

    Legal representative (responsible person) or
    authorized representative

    (Signature or seal)

    /s/ MA Xiongbing

     

    Date of signature: August 29, 2019

     

     

     

     

     
	
    Lender (unit seal)

    Special Seal for Credit Business Contract of
    Shaoguan Branch of Bank of Communications Company Limited

    Responsible person or authorized representative

    (Signature or seal)

    /s/ GAO Yan

     

    Date of signature: August 29, 2019EXHIBIT 4.11

No.: Yue Jiaoyin Shao Gong 2019 Baozi No.
035

Guarantee Contract

 

 

Bank of Communications
Co., LTD

 

    	1 

    	 

    

 

No.: Yue Jiaoyin Shao Gong 2019 Baozi No.
035

Guarantee Contract

Important Note:

Please read the full text
of this contract carefully, especially with ▲. For terms marked ▲, if there is any doubt, please ask the creditor to explain
in time.

 

In order to ensure
the satisfaction of all creditor’s claims under the principal contract signed or to be signed between the debtor and the creditor,
the guarantor is willing to provide the guarantee stipulated in this contract.

In order to clarify
the rights and obligations of both parties, the guarantor and the creditor have entered into this contract through negotiation and consensus.

Article 1 Principal
Creditor’s Rights

1.1 The principal
creditor’s rights guaranteed by the guarantor are all the principal creditor’s rights under the principal contract (if there
are multiple principal contracts, all the principal contracts, the same below), including all kinds of loans, overdrafts, discounts and
loans issued by the creditor to the debtor according to the principal contract or various types of trade financing (including but not
limited to import documentary financing, import collection financing, import remittance financing, export documentary financing, export
collection financing, export invoice financing, export order financing, package loan, domestic letter of credit documentary financing,
domestic letter of credit negotiation, domestic factoring financing, import factoring financing, etc), and/or creditor's claims (including
contingent claims) against the debtor arising from the issuance of banker's acceptance drafts, letters of credit or guarantees (including
stand-by letters of credit, likewise hereinafter) and creditor's claims (including contingent claims) against the debtor arising from
the credit facilities of other banks.

The bank credit business
stipulated in this contract means that the bank directly provides financial support to the customer, or guarantees the customer's compensation
and payment responsibilities that may arise in the relevant economic activities, including but not limited to any one or more of the businesses
listed above or businesses under other names.

    	2 

    	 

    

 

▲▲1.2
The currency, amount, interest rate and debt performance period of any principal creditor's rights and other specific contents shall be
signed by both the creditor and the debtor in the principal contract (including the application for quota use under the principal contract(Including
the application for quota use under the principal contract and/or documents in other names signed by both the creditor and the debtor,
the application for quota use and documents in other names are collectively referred to in this contract as "the application for
quota use", the same below)

In accordance with
Articles 10.2 (2), 10.2 (3), 10.2 (4) and 10.2 (5) of this contract to provide the maximum amount of guarantee, whether the amount of
the principal contract can be recycled, the purpose of the amount, each use The specific purpose of the credit limit and the credit period
are specified by the creditor and the debtor in the principal contract. For the maximum amount of guarantee provided in accordance with
Article 10.2(2) and 10.2(3), the principal creditor’s rights occurring within the credit extension period agreed in the principal
contract shall be guaranteed by this Contract; For the maximum amount of security provided in accordance with Articles 10.2 (4) and 10.2
(5), the principal creditor’s rights arising during the period specified in Articles 10.2 (4) and 10.2 (5) shall be guaranteed by
this Contract.

1.3 In accordance
with articles 10.2 (2), 10.2 (3), 10.2 (4) and 10.2 (5) of this contract, if the guarantor provides the guarantee of maximum amount for
the debtor, the following provisions shall apply.

The principal creditor’s
rights guaranteed under this contract shall be determined on the date of occurrence of the final principal creditor's right under all
the principal contracts ("the date of determination of the principal creditor’s
rights"). If the creditor cancels the entire credit line according to the principal contract, the date on which the entire credit
line is canceled shall be the date on which the principal creditor's right is determined.

The principal claims
occurring on or before the date of determination of the principal creditor’s rights and the interest (including compound interest,
overdue and misappropriation penalty), liquidated damages, damages and the expenses for realizing the creditor's claims as agreed in Article
2.2 hereof shall be covered by the warranties of this contract.

    	3 

    	 

    

 

The occurrence of
a master creditor's right refers to the creditor issuing a loan, financing, overdraft or issuing a bank draft, letter of credit, guarantee
or standby letter of credit.

▲ ▲1.4
Whether the actual amount of the creditor’s rights under the principal contract is lower than or higher than the maximum amount
of the creditor’s rights agreed in this contract, it will not affect the guarantor’s guaranty responsibility according to
this contract.

Article 2 Guarantee
Liability

2.1 The guarantee
under this contract is a joint and several liability guarantee.

2.2 The scope of the
guarantee is the principal and interest, compound interest, penalty interest, liquidated damages, damages and the cost of realizing the
creditor's rights under the principal contract. Expenses for realizing claims include but are not limited to collection fees, litigation
fees (or arbitration fees), preservation fees, announcement fees, execution fees, attorney fees, travel expenses and other expenses.

2.3 The guarantee
period shall be calculated separately according to the performance periods of each principal debt agreed in the principal contract (in
the case of issuing bank acceptance draft/letter of credit/letter of guarantee, according to the date of advance payment by the creditor).
The guarantee period under each principal debt shall be from the date of expiration of the performance period of such principal debt (or
the date of advance payment by the creditor) to two years after the date of expiration of the performance period of the final principal
debt due under the entire principal contract (or the date of advance payment by the creditor).

If creditor and
debtor agree that the debtor can stage to perform the payment obligations, the guarantee period of the principal debt shall be calculated
separately according to each repayment obligation, from the date of expiration of the performance period of each
repayment obligation (or the date of advance payment by the creditor) to two years after the date of expiration of the performance period
of the final principal debt due under the entire principal contract (or the date of advance payment by the creditor).

If the creditor
announces that any principal debt is due early, the expiry date of the performance period of the principal debt shall be subject to the
announced early maturity date.

    	4 

    	 

    

 

▲▲ 2.4
If the guarantee is provided in accordance with Article 10.2 (1), the guarantor has carefully read the principal contract and confirmed
all the terms.

In accordance with
Articles 10.2 (2), 10.2 (3), 10.2 (4) and 10.2 (5) to provide the maximum amount of guarantee, for the principal contract signed before
the signing of this contract, the guarantor has read the master contract carefully and confirm all terms.For the principal contract to
be signed after the signing of this contract, the guarantor agrees that the creditor and the debtor do not need to notify the guarantor
or obtain the consent of the guarantor when signing the principal contract. The guarantor will contact the debtor to provide relevant
documents.

▲▲2.5
If the guaranty is provided in accordance with Article 10, 2 (1), and the creditor and the debtor change the principal contract, the guarantor
shall still bear joint and several liability for the guaranty. However, if the principal contract is changed without the written consent
of the guarantor and the contract amount is increased, the interest rate is increased or the debt performance period is extended, the
guarantor shall only assume the guarantee responsibility according to the amount, interest rate and period agreed in the original principal
contract;However, on the premise that the principal contract has
not been changed, if the creditor adjusts the interest rate (including raising the interest rate) or extends the debt performance period
according to the agreement of the principal contract, the guarantor shall still bear all the guarantee responsibilities.

In
accordance with Articles 10.2 (2), 10.2 (3), 10.2 (4) and 10.2 (5), the maximum amount of security is provided, and the creditor and debtor
change the principal contract, including but not limited to To change the principal contract amount, credit period, debt performance period,
interest rate and other terms, there is no need to notify the guarantor or obtain the consent of the guarantor, and the guarantor shall
still bear the joint and several liability guarantee.However, for Article 10.2 (2) and 10.2 (3), if the principal contract amount is increased
or the credit extension term is extended without the written consent of the guarantor, the guarantor shall only undertake the guarantee
liability for the principal creditor's right occurring during the original credit extension term within the maximum amount agreed herein;For
Articles 10.2(4) and 10.2 (5), no matter what changes occur in the principal contract, the guarantor shall have the maximum amount of
claims stipulated in this contract for the principal creditor’s rights that occurred during the period specified in Articles 10.2(4)
and 10.2 (5)guarantee responsibility within.

▲▲2.6
The parties to this contract specifically agree as follows: the validity of this contract is independent of the principal contract, and
the invalidity of the principal contract or its relevant clauses will not affect the validity of this contract. The guarantor shall be
jointly and severally liable for the debtor's return liability and/or compensation liability after the principal contract is invalid.

▲▲2.7
The guarantee hereunder is a continuing guarantee, and any partial payment or discharge of all or part of the secured debt of the debtor
shall not be regarded as the release of the guarantee liability of the guarantor hereunder, and the guarantor shall still be liable as
agreed herein.

Article
3 Representations and Warranties of the Guarantor

3.1 The guarantor
has the capacity for civil rights and full capacity for civil conduct (if the guarantor is a natural person)/ the guarantor is legally
established and legally existing, and has all necessary capacity for rights (if the guarantor is a non-natural person), and can perform
the obligations hereunder in its own name and bear civil liabilities.

3.2
The execution and performance of this Contract is the true intention of the Guarantor and is without any legal defect after all necessary
consents, approvals and authorizations.

3.3 All documents,
materials and information provided by the guarantor to the creditor in the process of signing and performing this contract are true, accurate,
complete and valid.

▲▲3.4
The guarantor and its affiliates are not companies or individuals in the UN, EU or US sanctions list, and are not located in countries
and regions sanctioned by the UN, EU or US.

▲▲Article
4 Obligations of the Guarantor

4.1
The guarantor hereby irrevocably and unconditionally guarantees to the creditor that in the event that the debtor fails to repay in full
all or part of the loan, the financing loan or the advance payment or the corresponding interest paid by the creditor, the guarantor shall
immediately pay to the creditor the entire amount due from the debtor.

    	5 

    	 

    

 

The
guarantor agrees that: if the principal contract is also subject to the guarantee, mortgage or pledge provided by the debtor or a third
party, the creditor has the right to decide the exercise of the guarantee right, including but not limited to: The creditor shall have
the right to demand that the guarantor immediately pay the entire amount due to the debtor without first exercising the security interest
or asserting rights against other guarantors, and shall have the right to claim some or all of the guarantee rights against one or more
guarantors, including the guarantor, in any particular order or at the same time;If
the creditor waives or changes the guarantee rights to other guarantors, and waives or changes the order of rights of the guarantee interests,
the guarantor still bears the guaranty responsibility according to this contract and does not exempt from any responsibility.

4.2
The guarantor shall cooperate with the creditor in the supervision and inspection of its income and credit status (if the guarantor is
a natural person)/operation and financial status (if the guarantor is a non-natural person), and promptly provide the creditor with the
financial statements and other requirements for post-loan risk management needs. materials and information, and ensure that the documents,
materials and information provided are true, complete and accurate.

4.3 When the guarantor
has any of the following matters, it shall notify the creditor in writing at least 30 days in advance, and before the creditor's rights
under the principal contract are fully paid off, unless the creditor's written consent is obtained, the following actions shall not be
taken:

(1)Sell,
gift, lease, lend, transfer, mortgage, pledge or otherwise dispose of important assets, all or a substantial portion of assets;

(2)Significant
changes in the operating system or the form of business ownership, including but not limited to the implementation of contracting, leasing,
joint ventures, corporate restructuring, shareholding cooperative restructuring, corporate sales, mergers (mergers), joint ventures (cooperation),
divisions, establishment of subsidiaries, transfer of property rights, capital reduction, etc.

4.4 The guarantor
shall notify the creditor in writing within seven days from the date when the following events occur or may occur:

    	6 

    	 

    

 

(1)
To amend the articles of association, change the enterprise's name, legal representative, residence, correspondence address, business
scope and other industrial and commercial registration items, and make decisions that have major impact on finance and personnel;

(2)
Intends to file for bankruptcy or may or has been filed for bankruptcy by creditors;;

(3)
It is involved in major litigation, arbitration or administrative measures, or its main assets are taken for property preservation or
other compulsory measures;

(4) Provide a guarantee
for a third party that materially and adversely affects its economic condition, financial condition or ability to perform its obligations
under this contract;

(5)
Sign contracts that have a significant impact on the operations and financial position;

(6)
Suspend production, close down, disband, suspend business for rectification, repeal or revoke business license;

(7) The guarantor
or its legal representative (responsible person) or principal management personnel is involved in any violation of laws or regulations
or any violation of applicable exchange rules;

(8) Serious business
difficulties, deterioration of financial conditions, or other events that have a negative impact on the guarantor's business, financial
conditions or solvency or economic conditions;

(9)
Major changes of the guarantor's job or income or change of domicile or other contact information (if the guarantor is a natural person);

(10)
The guarantor has serious safety or environmental accident;

(11) The guarantor
has a significant change of equity;

(12)
The guarantor's external auditor's audit opinion on its financial statements is not a standard unqualified opinion;

(13)
The guarantor is or may be investigated, punished or take other similar measures by the competent authority for violating laws and regulations
and/or regulatory requirements;

    	7 

    	 

    

 

(14) The sponsor
or its affiliates is included in the UN, EU or US sanctions list, or its country and region is included in the UN, EU or US sanctions
list of countries and regions.

4.5 The Guarantor
hereby irrevocably and unconditionally agrees that the Guarantor shall not exercise any right or claim against the Debtor or other Guarantor
that may prejudice the interests of the Creditor until the Guarantee Obligation has been fully paid(Including but not limited to the guarantor's
right to claim compensation from the debtor or other guarantors due to the performance of this contract).If the Guarantor's exercise of
any such right or claim in breach of this section results in receipt of any sums from the debtor, the Guarantor shall promptly pay such
sums to the Creditor upon receipt.

4.6 Before the debtor
fully repays all the debts under the principal contract, if the debtor becomes a shareholder of the guarantor or its actual controller,
the guarantor will immediately notify the creditor and provide a resolution of the shareholders meeting (shareholders' meeting) on agreeing
to provide the guarantee.

4.7 The guarantor
guarantees to comply with national anti-money laundering laws, regulations and relevant policies, not engage in activities involving money
laundering and terrorist financing, and actively cooperate with creditors to carry out anti-money laundering work such as customer identification,
transaction record preservation, large and suspicious transaction report.

4.8
The guarantor guarantees that the guarantor, its employees and agents will not provide, give, solicit or accept material benefits (including
but not limited to cash, physical cards, travel, etc.) or other non-material benefits in any form other than those agreed herein to the
creditor or the creditor's employees;Do not use the funds or services
provided by creditors in any form, directly or indirectly, for activities related to corruption or bribery; if the guarantor is aware
of any violation of this agreement, it shall promptly, truthfully, completely and accurately provide clues and relevant information to
creditors. information, and cooperate with relevant matters in accordance with the requirements of creditors.

▲▲ Article
5 Deduction Agreement

5.1 With the authorization
of the guarantor, when the debtor or the guarantor has debts due and payable, the creditor has the right to deduct the funds in any account
opened by the guarantor in all branches of Bank of Communications Co., Ltd. for repayment.

    	8 

    	 

    

 

5.2 After the deduction,
the creditor shall notify the guarantor of the account number involved in the deduction, the principal contract number, the application
number for the use of the quota, the contract number, the deduction amount, and the debt balance.

5.3 When the guarantor's
repayment of debts (including the guarantor's active repayment and the creditor's deduction of the proceeds in accordance with this contract)
cannot fully pay off all the guarantor's debts:

(1)
Should first be used to settle the unpaid expenses due. If the principal and interest of the due debt are less than 90 days overdue, the
balance after paying off the expenses will be used to cover the unpaid interest or penalty interest and compound interest, and then used
to cover the unpaid principal; If the principal or interest of the due debt is overdue for 90 days or more, the balance after offsetting
the expenses shall be used to offset the unpaid principal, and then used to offset the unpaid interest or penalty interest and compound
interest;

(2)
Under the business of issuing bank acceptance draft, letter of credit, letter of guarantee, export factoring and so on, the balance after
compensating expenses shall first be used to compensate the principal unpaid at maturity, and then be used to compensate the interest
or penalty interest and compound interest unpaid at maturity;

(3) If the guarantor
has multiple debts (including debts owed by the guarantor to the creditor under other contracts), the creditor has the right to decide
the sequence of payment and offset of each debt of the guarantor on its own, as long as the sequence of payment and offset does not violate
the mandatory provisions of laws, regulations and relevant regulatory requirements applicable to the creditor. The creditor shall notify
the guarantor of the result of paying off the debt. Unless otherwise agreed by both parties on the matters in this paragraph.

(4)
Under personal loans, the order of debt repayment is as stipulated in the principal contract.

5.4 If the deduction
proceeds are not in the same currency as the debt to be repaid, the amount of debt repayment shall be converted at the exchange rate announced
by Bank of Communications Co., Ltd. at the time of deduction. If it is necessary to go through the formalities of foreign exchange settlement,
sale or exchange, the guarantor shall be obliged to assist the debtor in doing so as required by the creditor.

    	9 

    	 

    

 

Article 6 Notification

6.1 The contact information
(including mailing address, telephone number, fax number, etc.) filled in by the guarantor in this contract are all true and valid. If
any contact information is changed, the guarantor shall immediately send/send the changed information in writing to the correspondence
address filled in by the creditor in this contract. Such information changes will take effect after the creditor receives notice of the
changes.

6.2
Unless otherwise expressly agreed herein, the creditor shall have the right to give any notice to the guarantor in any of the following
ways. The creditor shall have the right to choose the method of notification it sees fit and shall not be liable for any errors, omissions
or delays in transmission by post, facsimile, telephone or any other communication system. If the creditor chooses multiple notification
methods at the same time, the one that reaches the guarantor sooner shall prevail.

(1)
Announcement, the date when the creditor publishes the announcement on its website, online banking, telephone banking or business outlet
is deemed to be the date of delivery;

(2)
If it is delivered by hand, the date of receipt by the guarantor shall be regarded as the date of delivery;

(3)
By post (including express mail, ordinary mail and registered mail) to the last known mailing address of the guarantor by the creditor,
3 days after the date of Posting (same city)/5 days (in different cities) shall be deemed as the date of delivery.

(4)Fax,
mobile phone text message or other electronic communication means served on the guarantor’s fax number, mobile phone number or
email address specified by the guarantor as recently as known to the creditor, and the date of delivery shall be deemed the date of delivery.

6.3
The guarantor agrees that, unless the creditor receives a written notice from the guarantor about changing the correspondence address,
the correspondence address filled in by the guarantor in this contract is the address at which the court will serve judicial documents
and other written documents on the guarantor. During the dispute resolution process of this contract, if the court delivers judicial documents
or other written documents by post (including express mail, ordinary mail, registered mail) to the guarantor's mailing address as recently
known to the creditor, the guarantor will be notified on the receipt of delivery. The date of receipt is the date of delivery;If
the guarantor does not sign on the receipt of delivery, the 3rd day (in the same city)/5th (different place) after the mailing date will
be regarded as the delivery date.

    	10 

    	 

    

 

Except for judgments,
rulings, and mediations, the court has the right to make any notification to the guarantor through any of the communication methods stipulated
in Article 6.2.The court shall have the right to choose such means of communication as it sees fit and shall not be liable for errors,
omissions or delays in transmission by post, facsimile, telephone, telex or any other communication system. If the court chooses multiple
communication methods at the same time, the one that reaches the guarantor sooner shall prevail.

▲▲Article
7 Information Disclosure and Confidentiality

7.1
The creditor shall not violate laws, regulations and regulatory requirements with respect to the use of the guarantor's undisclosed information
and materials obtained and known during the signing and performance of this contract, and shall bear the responsibility of confidentiality
according to law and shall not disclose such information and materials to any third party, except for the following circumstances:

(1)
Disclosure required by applicable laws and regulations;

(2)
Where the judicial department or regulatory agency is required to disclose according to law;

(3)
The guarantor fails to assume the guaranty responsibility as agreed, and the creditor needs to disclose to the creditor's external professional
adviser and allow the creditor's external professional adviser to use on the basis of confidentiality in order to realize the creditor's
rights under this contract.

(4)
Where the guarantor otherwise agrees or authorizes the lender to make the disclosure.

7.2 The guarantor confirms
that he has signed the "Letter of Authorization for Credit Information Inquiry and Provision". The creditor inquires, uses and
saves the credit information of the guarantor within the scope specified in the power of attorney.

7.3 In addition to
the situations stipulated in Articles 7.1 and 7.2 of this contract, the guarantor further agrees that Bank of Communications Co., Ltd.
may use or disclose the information and materials of the guarantor in the following circumstances, including but not limited to the basic
information of the guarantor, information, credit transaction information, bad information and other related information and materials,
etc., and are willing to bear all the consequences arising therefrom:

    	11 

    	 

    

 

For
the following purposes, to business outsourcing agencies, third-party service providers, other financial institutions and other institutions
or individuals deemed necessary by creditors, including but not limited to other branches of Bank of Communications Co., Ltd., or Bank
of Communications Co., Ltd. in whole or in part Owned Subsidiaries, disclose and permit them to use such information and materials on
a confidential basis: 1In order to carry out bank credit business
or related to bank credit business, such as promoting the credit business of Bank of Communications Co., Ltd., collecting the guarantor's
arrears, transferring the creditor's rights of the bank credit business, etc.; 2 Provide
or may provide new products or services or provide further services for the creditor to the guarantor.

Whether this Article
7.3 is applicable shall be subject to the agreement between the two parties in Article 12.1 of this contract.

Article 8 Dispute
Resolution

This contract is governed
by the laws of the People's Republic of China (excluding the laws of Hong Kong, Macau and Taiwan for the purpose of this contract).Disputes
under this contract shall be brought to the court with jurisdiction where the creditor is located, unless it is otherwise stipulated in
the "Other Agreed Matters" clause of this contract. During the dispute, the parties shall continue to perform the terms not
involved in the dispute.

Article 9 Effective
Terms

This contract will
take effect from the date when all the following conditions are met: (1) The legal representative (person in charge) or authorized representative
of the guarantor signs (or seals) and affixes the official seal; if the guarantor is a natural person, the guarantor signs; (2) The creditor
is responsible for Signed (or stamped) by the person or authorized representative and stamped with the unit's seal.

Article 10 The
Principal Contract of the Guarantee

10.1 The guaranteed
debtor is: Shaoguan Angrui Environmental Technology Development Co., Ltd.

10. 2 The guarantee
provided in this contract shall be governed by the following clause (1):

    	12 

    	 

    

 

(1)
Guarantee. Guaranteed principal contract number:Yuejiao Yinshao
2019 Fixed Asset Loan No. 002 Name:Fixed Assets Loan Contract;

(2)
Guarantee under the debt ceiling. Guaranteed principal contract number: /           
Name:/             ;
The maximum amount of debt guaranteed by the guarantor is(currency):
/_________(capitalized amount: /                                   ;

(3)
Guarantee under the debt ceiling. Guaranteed principal contract number:/          
Name: /                  ;The
maximum amount of debt guaranteed by the guarantor shall be the sum of the following two amounts:1 Guaranteed
maximum principal balance of principal creditor’s rights (currency): /              
(capitalized amount): /               ,The term "guaranteed
maximum principal balance of principal creditor's rights" as mentioned in this paragraph refers to the maximum principal balance
of principal creditor's rights (including contingent creditor's rights) guaranteed by the guarantor under the principal contract,2The
aforesaid principal creditor’s rights continue until the guarantor assumes responsibility for the interest (including compound interest,
overdue and misappropriation penalty interest), liquidated damages, damages and the cost of the creditor's realization of the creditor's
rights stipulated in Article 2.2 of this contract.

Principal balance
means the sum of either or both of the following:

i.
Sum of various types of loans, overdrafts, discounts and/or principals of various types of trade financing issued by the creditor under
the principal contract and outstanding by the debtor;

ii. The sum of the
amount of bank acceptance bills, letters of credit or letters of guarantee issued by the creditor under the principal contract and still
valid, and the sum of the amount advanced by the creditor under the aforesaid bank credit business but not paid by the debtor.

(4)Guaranty
of maximum amount. The guarantor provides the highest guarantee for all the principal contracts signed between the creditor and the debtor
from /        (Year)/       (Month)   /       (Day)
to     /       (Year)/       (Month)      /       (Day).
All principal contracts signed during the period provide the highest guarantee, and the maximum amount of creditor’s rights guaranteed
by the guarantor is (currency and capitalized amount):___/___.

    	13 

    	 

    

 

The
term “principal contract” as
mentioned in the preceding paragraph refers to: ¢all
credit business contracts signed by the creditor and the debtor □ all
credit business contracts signed for ___/___.

(5)Guaranty
of maximum amount. The guarantor provides the maximum guarantee for all the principal contracts signed between the creditor and the debtor
during the period from ___ /     year       /       
month /         day to /       year /      
month /        day, and the maximum amount of creditor’s
rights guaranteed by the guarantor is the sum of the following two amounts:1 The
maximum amount of the principal balance of the principal creditor's rights guaranteed (currency and capitalized amount): /         ,
the term "the maximum amount of the principal balance of the principal creditor's rights guaranteed" in this subsection refers
to the principal creditor's rights (including the contingent claims) guaranteed by the guarantor under the principal contract claims)
the maximum amount of the principal balance,2The aforesaid principal
creditor’s rights continue until the guarantor assumes responsibility for the interest (including compound interest, overdue and
misappropriation penalty interest), liquidated damages, damages and the cost of the creditor's realization of the creditor's rights stipulated
in Article 2.2 of this contract.

The
“principal contract” mentioned in the preceding paragraph refers to: □all
the credit extension business contracts signed by the creditor and the debtor □ all
the credit extension business contracts signed for___/___.

Principal balance
means the sum of either or both of the following:

i. The sum of the
principals of various types of loans, overdrafts, discounts and/or various trade financing funds issued by the creditor under the principal
contract and outstanding by the debtor;

ii. The sum of the
amount of bank acceptance bills, letters of credit or letters of guarantee issued by the creditor under the principal contract and still
valid, and the sum of the amount advanced by the creditor under the aforesaid bank credit business but not paid by the debtor.

    	14 

    	 

    

 

Article 11 Contact
Information

The contact details
for the guarantor to receive notices under Article 6 include:

Mailing address:
Room 01-A, 79th Floor, Ping An Finance Center, No. 5033, Yitian Road, Futian District, Shenzhen

Recipient: Fu Jiangen

Zip
code:518000 

Tel:[*]
;  Cell phone:[*]

Fax:
[*]; E-mail:[*]

Article 12
Other Agreed Matters

12.1
Both parties agree, in this contract Clause 7.3 ■applies□does
not apply.

12.2
Both parties agree that the jurisdictional court for disputes stipulated in Article 8 of this contract shall be revised from “the
court with jurisdiction at the location of the creditor” to: /                      

Article 13 Copies of Contracts

This contract is in
four original copies, each party holds one copy.

 

Guarantor:Feishang
Enterprise Group Co., Ltd.

Legal representative
(person in charge): Li Feilie

Certificate Type:
Business License

Certificate Code: 91440300723015310J

Legal (household registration)
address: 01-A, 79th Floor, Ping An Finance Center, No. 5033, Yitian Road, Futian District, Shenzhen

Creditor: Bank of Communications
Co., Ltd. _Shaoguan_ Branch

Person in charge: Gao
Yan

Mailing address: No.
27, Industrial Middle Road, Wujiang District, Shaoguan City                          

The
guarantor has read all the terms of the contract thoroughly, the creditor has made a detailed explanation at the request of the guarantor,the
guarantor has no doubts and objections to all the contents when signing this contract, and understands the terms of the contract, especially
the meaning and legal consequences of the terms marked with ▲▲.

(No
text below this page)

 

    	15 

    	 

    

	Guarantor
    (official seal/signature)

     

    Feishang
    Enterprise Group Co., Ltd.

     

    Legal
    representative (responsible person) or authorized representative

    (signature
    or seal)

    /s/
    LI Feilie

     

    Date
    of signature: August 29, 2019

     

     

     
	Creditor
    (unit seal)

    Special
    Seal for Credit Business Contract of Shaoguan Branch of Bank of Communications Company Limited

    Responsible
    person or authorized representative

    (signature
    or seal)

    /s/
    GAO Yan

     

    Date
    of signature: August 29, 2019

     

 

 

Co-Owner
Statement Terms(Applicable when the guarantor is a natural person):

I(Name:
/           Type of
Identification:/             Identification No.: /        )is
the spouses of the guarantor. I have carefully read and confirmed all terms of this contract, understand and agree that the guarantor
provides a guarantee to the creditor for the debtor, and the debts under such guarantee shall be the joint debts of the couple and shall
be paid out of the joint assets of us.

Co-Owner signature:

 

16

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