Document:

EX-10.4

 Exhibit 10.4 

Share Pledge Agreement 
 This Share Pledge
Agreement (this “Agreement”) has been executed by and among the following Parties on February 20, 2017 in Shanghai, China: 
  

			
	Party A:	  	Dada Glory Network Technology (Shanghai) Co., Ltd. (hereinafter “Pledgee”)
	Address:	  	Room 1495, No. 1945, Siping Road, Yangpu District, Shanghai

 Legal Representative: Philip Jiaqi Kuai 
  

			
	Party B:	  	[Name] ([PRC ID Card No.])/[Enterprise Name] (hereinafter “Pledgor”)
	Address:	  	Room 416, 4/F, Hengtong Building, No. 19, Hongzehu East Road, Suyu District, Suqian
		
	Party C:	  	Shanghai Qusheng Internet Technology Co., Ltd.
	Address:	  	Room 1494, No. 1945, Siping Road, Yangpu District, Shanghai

 Legal Representative: Philip Jiaqi Kuai 

In this Agreement, each of Pledgee, Pledgor and Party C shall be referred to as a “Party” respectively, and they shall be collectively
referred to as the “Parties”. 
 Whereas, 
  

	1.	 Pledgor is the citizen/legal entity of the People’s Republic of China (“China”), and hold
the registered capital in an amount equal to RMB[Number] in Party C, representing [Percentage]% of the total amount of Party C’s registered capital. Party C is a limited liability company registered in Shanghai, China. Party C acknowledges the
respective rights and obligations of Pledgor and Pledgee under this Agreement, and agrees to provide any necessary assistance in registering the Pledge; 

  

	2.	 Pledgee is a Wholly Foreign Owned Enterprise registered in Shanghai, China. Pledgee and Party C have executed
an Exclusive Business Cooperation Agreement on November 14, 2014; 

  

	3.	 To ensure that Pledgee collects all payments due by Party C, including without limitation the consulting and
service fees regularly from Party C, Pledgor hereby pledge all of the equity interest they hold in Party C as security for Party C’s payment of the consulting and service fees under the Exclusive Business Cooperation Agreement.

  

	1.	 Definitions 

Unless otherwise provided herein, the terms below shall have the following meanings: 

 

	 	1.1	 “Pledge” shall refer to the security interest granted by Pledgor to Pledgee pursuant to
Article 2 of this Agreement, i.e., the right of Pledgee to be compensated on a preferential basis with the conversion, auction or sales price of the Equity Interest. 

 

	 	1.2	 “Equity Interest” shall refer to the registered capital owned by Pledgor and all of the
related equity interest lawfully now held and hereafter acquired by Pledgor in Party C, including, without limitation, the registered capital in an amount equal to RMB[Number] owned by Pledgor in Party C on the date hereof. 

 

	 	1.3	 “Term of Pledge” shall refer to the term set forth in Section 3 of this Agreement.

  

  
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	 	1.4	 “Business Cooperation Agreement” shall refer to the Exclusive Business Cooperation Agreement
executed by and between Pledgee and Party C, partially owned by Pledgor on November 14, 2014. 

  

	 	1.5	 “Event of Default” shall refer to any of the circumstances set forth in Article 7 of this
Agreement. 

  

	 	1.6	 “Notice of Default” shall refer to the notice issued by Pledgee in accordance with this
Agreement declaring an Event of Default. 

  

	2.	 The Pledge 

 

	 	2.1	 As collateral security for the prompt and complete payment and performance when due (whether at stated
maturity, by acceleration or otherwise) of any or all the payments due by Party C, including without limitation the consulting and services fees payable to the Pledgee under the Business Cooperation Agreement (collectively, the “Secured
Obligations”), Pledgor hereby pledges to Pledgee a first security interest in the Equity Interest of Party C owned by the Pledgor (including the [Percentage]% registered capital in an amount equal to RMB[Number] currently owned by the
Pledgor and all relevant equity interest, as well as other registered capital and all relevant equity interest, which may be obtained by the Pledgor in the future). 

 

	 	2.2	 The Parties understand and agree that the monetary valuation arising from, relating to or in connection with
the Secured Obligations shall be a variable and floating valuation until the Settlement Date (as defined below). Therefore, based on the reasonable assessment and evaluation by the Pledgor and the Pledgee of the Secured Obligations and the Equity
Interest, the Pledgor and the Pledgee mutually acknowledge and agree that the Pledge shall aggregately secure the Secured Obligations for a maximum amount of RMB[Number] (the “Maximum Amount”) prior to the Settlement Date. The
Pledgor and the Pledgee may, taking into account the fluctuation in the monetary value of the Secured Obligations and the Equity Interest, adjust the Maximum Amount based on mutual agreement by amending and supplementing this Agreement, from time to
time, prior to the Settlement Date. 

  

	 	2.3	 Upon the occurrence of any of the events below (each an “Event of Settlement”), the Secured
Obligations shall be fixed at a value of the sum of all Secured Obligations that are due, outstanding and payable to the Pledgee on or immediately prior to the date of such occurrence (the “Fixed Obligations”):

  

	 	(a)	 the Business Cooperation Agreement expires or is terminated pursuant to the stipulations thereunder;

  

	 	(b)	 the occurrence of an Event of Default pursuant to Section 7 that is not resolved, which results in the
Pledgee serving a Notice of Default to the Pledgor pursuant to Section 7.3; 

  

	 	(c)	 the Pledgee reasonably determines (having made due enquiries) that the Pledgor and/or Party C is insolvent or
could potentially be made insolvent; or 

  

	 	(d)	 any other event that requires the settlement of the Secured Obligations in accordance with relevant laws of the
PRC. 

  

	 	2.4	 For the avoidance of doubt, the day of the occurrence of an Event of Settlement shall be the settlement date
(the “Settlement Date”). On or after the Settlement Date, the Pledgee shall be entitled, at the election of the Pledgee, to enforce the Pledge in accordance with Section 8. 

  
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	 	2.5	 The Pledgee is entitled to collect dividends or other distributions, if any, arising from the Equity Interest
during the Term of the Pledge (as defined below). 

  

	3.	 Term of Pledge  

 

	 	3.1	 The Pledge shall become effective as of the date when the pledge of the Equity Interest is registered with the
local administration of industry and commerce (the “Registration Authority”). The Term of the Pledge (the “Term of Pledge Authority”) shall end when the last obligation secured by the Pledge is paid or fully
fulfilled. The Parties agree that, promptly after the execution of this Agreement (but in no event later than 20 days from the execution date of this Agreement), Pledgor and Party A shall submit their application for pledge registration to the
Registration Authority in accordance with the Measures on Share Pledge Registration with the Administration of Industry and Commerce. The Parties also agree that within fifteen (15) days as of the Registration Authority officially
commences the acceptance of equity pledge application, Pledgor and Party C shall complete the pledge registration procedure, obtain the pledge registration notice and completely and accurately register the Pledge of Equity Interest on the Pledge
Registration Book of the Registration Authority. 

  

	 	3.2	 During the Term of Pledge, in the event Party C fails to pay the exclusive consulting or service fees in
accordance with or fails to perform under the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to dispose of the Pledge in accordance with the provisions of this Agreement. 

 

	4.	 Custody of Records for Equity Interest subject to Pledge 

 

	 	4.1	 During the Term of Pledge set forth in this Agreement, Pledgor shall deliver to Pledgee’s custody the
capital contribution certificate for the Equity Interest and the shareholders’ register containing the Pledge (and other documents reasonably requested by the Pledgee, including without limitation the notice of registration of the Pledge issued
by relevant administration of industry and commerce) within one week from the date the Pledge is registered. Pledgee shall have custody of such items during the entire Term of Pledge set forth in this Agreement. 

 

	 	4.2	 Pledgee shall have the right to collect dividends generated by the Equity Interest during the Term of Pledge.

  

	5.	 Representations and Warranties of Pledgor and Party C 

The Pledgor Represent and Warrant to the Pledgee that: 
  

	 	5.1	 Pledgor is the sole legal and beneficial owners of the Equity Interest. Except for being subject to other
agreements entered into by the Pledgor and the Pledgee, the Pledgor enjoys legal and complete ownership of the Equity Interest. 

  

	 	5.2	 Pledgee shall have the right to dispose of and transfer the Equity Interest in accordance with the provisions
set forth in this Agreement. 

  

	 	5.3	 Except for the Pledge, Pledgor has not placed any security interest or other encumbrance on the Equity
Interest. There are no controversies over the ownership of the Equity Interest. The Equity Interest is not seized or subject to any other legal proceedings or similar threats, and is good for transfer and pledging according to applicable laws.

  
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	 	5.4	 The Pledgor’s execution of this Agreement and exercise of its rights under this Agreement (or fulfillment
of its obligations under this Agreement) will not breach any laws, regulations, and agreements or contracts to which the Pledgor is a party, or any promise the Pledgor has made to any third parties. 

 

	 	5.5	 All documents, materials, statements and certificates provided by the Pledgor to the Pledgee are accurate,
true, complete and valid. 

 Party C Represent and Warrant to the Pledgee that: 

 

	 	5.6	 Party C is a limited liability company registered under the laws of China and legally exists. Party C has the
qualification of an independent legal person, enjoys complete and independent legal status and the legal capacity to sign, deliver and fulfill this Agreement. 

 

	 	5.7	 Upon due execution of Party C, this Agreement constitute legal, effective and binding obligation on Party C.

  

	 	5.8	 Party C has the complete internal right and authorization to sign and deliver this Agreement and all other
documents relating to the transactions contemplated under this Agreement. Party C has the complete right and authorization to complete the transactions contemplated under this Agreement. 

 

	 	5.9	 Regarding the assets owned by Party C, there are not any guarantee interests or any other encumbrance on
property rights that are substantial and may impact the Pledgee’s right and interests in the Equity Interest (including without limitation transfer of any of Party C’s intellectual properties or any assets with a value equaling or over RMB
100,000, or any encumbrance on the ownership or right to use of such assets). 

  

	 	5.10	 In any court or arbitration tribunal there are no pending (or, as far as Party knows, threatening) litigation,
arbitration or other legal proceedings against the Equity Interest, Party C or its assets, and in any governmental agencies or departments there are no pending (or, as far as Party knows, threatening) administrative proceedings or penalties against
the Equity Interest, Party C or its assets, which may substantially and adversely impact Party C’s economic condition or the Pledgor’s ability to fulfill their obligations and guarantee liabilities under this Agreement.

  

	 	5.11	 Party C hereby agrees that it is jointly and severally liable to the Pledgee for all representations and
warranties made by any and all of the Pledgor under this Agreement. 

  

	 	5.12	 Party C hereby warrants to the Pledgee that, at any time and under any circumstances prior to complete
fulfillment of the obligations under this Agreement or the secured debts being fully repaid, the aforementioned representations and warranties are true and accurate and will be fully complied with. 

  
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	6.	 Covenants and Further Agreements of Pledgor  

The Covenants and Further Agreements of the Pledgor are set forth below. 

 

	 	6.1	 Pledgor hereby covenants to the Pledgee, that during the term of this Agreement, Pledgor shall:

  

	 	6.1.1	 not transfer (or agree to others’ transfer of) all or any part of the Equity Interest, place or permit the
existence of any security interest or other encumbrance that may affect the Pledgee’s rights and interests in the Equity Interest, without the prior written consent of Pledgee, except for the performance of the Exclusive Option Agreement
executed by Pledgor, Pledgee and Party C on February 20, 2017; 

  

	 	6.1.2	 comply with the provisions of all laws and regulations applicable to the pledge of rights, and within 5 days of
receipt of any notice, order or recommendation issued or prepared by relevant competent authorities (or any other relevant parties) regarding the Pledge, shall present the aforementioned notice, order or recommendation to Pledgee, and shall comply
with the aforementioned notice, order or recommendation or submit objections and representations with respect to the aforementioned matters upon Pledgee’s reasonable request or upon consent of Pledgee; 

 

	 	6.1.3	 promptly notify Pledgee of any event or notice received by Pledgor that may have an impact on Pledgee’s
rights to the Equity Interest or any portion thereof, as well as any event or notice received by Pledgor that may have an impact on any guarantees and other obligations of Pledgor arising out of this Agreement. 

 

	 	6.2	 Pledgor agrees that the rights acquired by Pledgee in accordance with this Agreement with respect to the Pledge
shall not be interrupted or harmed by Pledgor or any heirs or representatives of Pledgor or any other persons through any legal proceedings. 

  

	 	6.3	 To protect or perfect the security interest granted by this Agreement for payment of the consulting and service
fees under and performance under the Business Cooperation Agreement, Pledgor hereby undertakes to execute in good faith and to cause other parties who have an interest in the Pledge to execute all certificates, agreements, deeds and/or covenants
required by Pledgee. Pledgor also undertakes to perform and to cause other parties who have an interest in the Pledge to perform actions required by Pledgee, to facilitate the exercise by Pledgee of its rights and authority granted thereto by this
Agreement, and to enter into all relevant documents regarding ownership of Equity Interest with Pledgee or designee(s) of Pledgee (natural/legal persons). Pledgor undertakes to provide Pledgee within a reasonable time with all notices, orders and
decisions regarding the Pledge that are required by Pledgee. 

  

	 	6.4	 Pledgor hereby undertakes to comply with and perform all guarantees, promises, agreements, representations and
conditions under this Agreement. In the event of failure or partial performance of its guarantees, promises, agreements, representations and conditions, Pledgor shall indemnify Pledgee for all losses resulting therefrom. 

 

	 	6.5	 If the Equity Interest pledged under this Agreement is, for any reason, subject to mandatory measures imposed
by the court of law or other governmental departments, the Pledgor shall try their best to release such mandatory measures imposed by the court of law or other governmental departments, including without limitation providing to the court of law
other kinds of security or other measures. 

  

	 	6.6	 If there is a possibility that the value of the Equity Interest will be decreased and such decrease is
sufficient to harm the rights and interests of the Pledgee, the Pledgee may request the Pledgor to provide additional collateral or security. If the Pledgor refuses to provide such security, the Pledgee may, at any time, sell the Equity Interest or
put it up for auction, and use the monies obtained from such sale or auction to settle the secured obligations in advance or put such monies under custody; all expenses therefore occurred shall be borne by the Pledgor. 

  
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	 	6.7	 Without the prior written consent from the Pledgee, the Pledgor and/or Party C shall not (by themselves or
assisting others to) increase, decrease or transfer the registered capital of Party C (or their capital contribution to Party C) or impose any encumbrances on it, including the Equity Interest. Subject to the forgoing provision, any equity interest
which is registered and obtained by the Pledgor subsequent to the date of this Agreement shall be called “Additional Equity Interest”. The Pledgor and Party C shall, immediately after the Pledgor obtains the Additional Equity Interest,
enter with the Pledgee supplemental share pledge agreement for the Additional Equity Interest, make the board of directors and shareholders meeting of Party C approve the supplemental share pledge agreement, and deliver to the Pledgee all documents
necessary for the supplemental share pledge agreement, including without limitation (a) the original certificate issued by Party C about shareholders’ capital contribution relating to the Additional Equity Interest; and (b) the
verified photocopy of the capital contribution verification report (issued by certified public accountant in China) regarding the Additional Equity Interest. The Pledgor and Party C shall, according to Article 3.1 of this Agreement, handle the
pledge registration procedures relating to the Additional Equity Interest. 

  

	 	6.8	 Unless otherwise instructed by the Pledgee in writing, the Pledgor and/or Party C agree that, if part of or all
of the Equity Interest is transferred between the Pledgor and any third parties in violation of this Agreement (“Transferee of the Equity Interest”), then the Pledgor and/or Party C shall ensure that the Transferee or the Equity Interest
will unconditionally recognize the Pledge and follow necessary procedures for modification of the registration of the Pledge (including without limitation signing relevant documents) so as to ensure the continued existence of the Pledge.

  

	 	6.9	 If the Pledgee provides to Party C loan of monies, the Pledgor and/or the Party C agree to pledge the Equity
Interest to the Pledgee for security of such additional loan of monies, and to follow procedures as soon as possible according to relevant laws, regulations or local practice (if any), including without limitation executing relevant documents and
completing registration procedures for setting up (or modification) of a pledge. 

 The Covenants and Further
Agreements of Party C are set forth below. 
  

	 	6.10	 If, for the execution of this Agreement and Pledge under this Agreement, it is necessary to obtain any third
party consent, approval, waiver or authorization, any governmental approval, license or waiver, or complete registration procedures in any governmental departments (as required by the law), then Party C will try its best to assist in obtain the same
and cause it to remain in effect during the term of this Agreement. 

  

	 	6.11	 Without prior written consent of the Pledgee, Party C will not assist or allow the Pledgor to set up any new
pledges or grant other security over the Equity Interest, nor will Party C assist or allow the Pledgor to transfer the Equity Interest. 

  

	 	6.12	 Party C agrees to, jointly with the Pledgor, strictly comply with Article 6.7, Article 6.8 and Article 6.9 of
this Agreement. 

  

	 	6.13	 Without prior written consent of the Pledgee, Party C shall not transfer its assets or set up (or allow the
existence of) any security or encumbrances on property rights that may affect the Pledgee’s rights and interests in the Equity Interest (including without limitation transfer of any of Party C’s intellectual properties or any assets with a
value equaling or over RMB 100,000, or any encumbrance on the ownership or right to use of such assets). 

  
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	 	6.14	 Where there are any litigations, arbitrations or any other claims, which may adversely impact party C, the
Equity Interest, or the Pledgee’s interests under the series of the cooperation agreements (including without limitation the Business Cooperation Agreement) and this Agreement, Party C shall, as soon as possible, send timely notice to the
Pledgee and according to reasonable requests of the Pledgee take all necessary measures to protect the Pledgee’s interests in the Equity Interest. 

  

	 	6.15	 Party C shall not conduct or allow any acts or actions that may adversely impact the Equity Interest or
Pledgee’s interest under the cooperation agreements (including without limitation the Exclusive Business Cooperation Agreement) and this Agreement. 

  

	 	6.16	 Party C shall, during the first month of each quarter, provide to the Pledgee its financial statements for the
preceding quarter, including without limitation its balance sheets, profit statements and cash flow statements. 

  

	 	6.17	 Party C shall, pursuant to the Pledgee’s reasonable requests, take all necessary measures and sign all
necessary documents so as to ensure and protect the Pledgee’s rights over the Equity Interest and realization of them. 

  

	 	6.18	 If the exercise of the Pledge under this Agreement results to any transfer of the Equity Interest, Party C
agrees and warrants that it will take all measures to effect such transfer. 

  

	7.	 Event of Default 

 

	 	7.1	 The following circumstances shall be deemed Event of Default: 

 

	 	7.1.1	 Party C fails to pay in full any of the consulting and service fees payable under the Business Cooperation
Agreement, or fail to repay its loan or breaches any other obligations of Party C thereunder; 

  

	 	7.1.2	 Any representation or warranty by Pledgor in Article 5 of this Agreement contains material misrepresentations
or errors, and/or Pledgor violates any of the warranties in Article 5 of this Agreement; 

  

	 	7.1.3	 Pledgor and Party C fail to complete the registration of the Pledge with Registration Authority;

  

	 	7.1.4	 Pledgor and Party C breach any provisions of this Agreement; 

 

	 	7.1.5	 Except as expressly stipulated in Section 6.1.1, Pledgor transfers or purports to transfer or abandons the
Equity Interest pledged or assigns the Equity Interest pledged without the written consent of Pledgee; 

  

	 	7.1.6	 Any of Pledgor’s own loans, guarantees, indemnifications, promises or other debt liabilities to any third
party or parties (1) become subject to a demand of early repayment or performance due to default on the part of Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner; 

 

	 	7.1.7	 Any approval, license, permit or authorization of government agencies that makes this Agreement enforceable,
legal and effective is withdrawn, terminated, invalidated or substantively changed; 

  
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	 	7.1.8	 The promulgation of applicable laws renders this Agreement illegal or renders it impossible for Pledgor to
continue to perform its obligations under this Agreement; 

  

	 	7.1.9	 Adverse changes in properties owned by Pledgor, which lead Pledgee to believe that that Pledgor’s ability
to perform its obligations under this Agreement has been affected; 

  

	 	7.1.10	 The successor or custodian of Party C is capable of only partially performing or refuses to perform the payment
obligations under the Business Cooperation Agreement; and 

  

	 	7.1.11	 Any other circumstances occur where Pledgee is or may become unable to exercise its right with respect to the
Pledge. 

  

	 	7.2	 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned
circumstances described in Section 7.1, Pledgor shall immediately notify Pledgee in writing accordingly. 

  

	 	7.3	 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to Pledgee’s
satisfaction within thirty (30) days of the Pledgee’s notice, Pledgee may issue a Notice of Default to Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter and demand that Pledgor immediately pays all
outstanding payments due under the Business Cooperation Agreement, and/or repays loans and all other payments due to Pledgee, and/or disposes of the Pledge in accordance with the provisions of Article 8 of this Agreement. 

 

	8.	 Exercise of Pledge  

 

	 	8.1	 Prior to the full performance and payment of the consulting and service fees described in the Business
Cooperation Agreement, without the Pledgee’s written consent, Pledgor shall not assign the Pledge or the Equity Interest in Party C. 

  

	 	8.2	 Pledgee may issue a Notice of Default to Pledgor when exercising the Pledge. 

 

	 	8.3	 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge
concurrently with the issuance of the Notice of Default in accordance with Section 7.2 or at any time after the issuance of the Notice of Default. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or
interests associated with the Equity Interest. 

  

	 	8.4	 In the event of default, Pledgee is entitled to take possession of the Equity Interest pledged hereunder and to
dispose of the Equity Interest pledged, to the extent permitted and in accordance with applicable laws; if, after satisfying all obligations secured, there is any balance in the monies collected by the Pledgee by enforcing the Pledge, then such
balance shall be, without calculation of interests, paid to the Pledgor or other parties entitled to receive such balance. 

  

	 	8.5	 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide
necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement. 

  

	 	8.6	 Unless otherwise provided by the law, all expenses, tax, charges and all legal fees relating to the
establishment of the Pledge and enforcement of it shall be borne by the Pledgor. 

  
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	9.	 Assignment  

 

	 	9.1	 Without Pledgee’s prior written consent, Pledgor shall not have the right to assign or delegate its rights
and obligations under this Agreement. 

  

	 	9.2	 This Agreement shall be binding on Pledgor and its successors and permitted assigns, and shall be valid with
respect to Pledgee and each of its successors and assigns. 

  

	 	9.3	 At any time, Pledgee may assign any and all of its rights and obligations under the Business Cooperation
Agreement to its designee(s) (natural/legal persons), in which case the assigns shall have the rights and obligations of Pledgee under this Agreement, as if it were the original party to this Agreement. When the Pledgee assigns the rights and
obligations under the Business Cooperation Agreement, upon Pledgee’s request, Pledgor shall execute relevant agreements or other documents relating to such assignment. 

 

	 	9.4	 In the event of a change in Pledgee due to an assignment, Pledgor shall, at the request of Pledgee, execute a
new pledge agreement with the new pledgee on the same terms and conditions as this Agreement. 

  

	 	9.5	 Pledgor shall strictly abide by the provisions of this Agreement and other contracts jointly or separately
executed by the Parties hereto or any of them, including the Exclusive Option Agreement and the Power of Attorney granted to Pledgee, perform the obligations hereunder and thereunder, and refrain from any action/omission that may affect the
effectiveness and enforceability thereof. Any remaining rights of Pledgor with respect to the Equity Interest pledged hereunder shall not be exercised by Pledgor except in accordance with the written instructions of Pledgee. 

 

	10.	 Termination 

Upon the full performance and payment of the consulting and service fees under the Business Cooperation Agreement and upon termination of Party
C’s obligations under the Business Cooperation Agreement, this Agreement shall be terminated, and Pledgee shall then cancel or terminate this Agreement as soon as reasonably practicable. 

 

	11.	 Handling Fees and Other Expenses  

All fees and out of pocket expenses relating to this Agreement, including but not limited to legal costs, costs of production, stamp tax and
any other taxes and fees, shall be borne by Party C. If Applicable Laws requires that Pledgee should bear some related taxes and fees, Pledgor shall cause Party C to fully repay Pledgee the paid taxes and fees. 

 

	12.	 Confidentiality 

The Parties acknowledge that any oral or written information exchanged among them with respect to this Agreement is confidential information.
Each Party shall maintain the confidentiality of all such information, and without obtaining the written consent of other Parties, it shall not disclose any relevant information to any third parties, except in the following circumstances:
(a) such information is or will be in the public domain (provided that this is not the result of a public disclosure by the receiving party); (b) information disclosed as required by applicable laws or rules or regulations of any stock
exchange; or (c) information required to be disclosed by any Party to its legal counsel or financial advisor regarding the transaction contemplated hereunder, and such legal counsel or financial advisor are also bound by confidentiality duties
similar to the duties in this section. Disclosure of any confidential information by the staff members or agency hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for
breach of this Agreement. This section shall survive the termination of this Agreement for any reason. 

  
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	13.	 Governing Law and Resolution of Disputes 

 

	 	13.1	 The execution, effectiveness, construction, performance, and the resolution of disputes hereunder shall be
governed by the formally published and publicly available laws of China. Matters not covered by formally published and publicly available laws of China shall be governed by international legal principles and practices. 

 

	 	13.2	 In the event of any dispute with respect to the construction and performance of the provisions of this
Agreement, the Parties shall negotiate in good faith to resolve the dispute. In the event the Parties fail to reach an agreement on the resolution of such a dispute within 30 days after any Party’s request for resolution of the dispute through
negotiations, any Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration, in accordance with its then effective arbitration rules. The arbitration shall
be conducted in Beijing, and the language used during arbitration shall be Chinese. The arbitration ruling shall be final and binding on all Parties. 

  

	 	13.3	 Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during
the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

  

	14.	 Notices 

 

	 	14.1	 All notices and other communications required or permitted to be given pursuant to this Agreement shall be
delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the address of such party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on
which notices shall be deemed to have been effectively given shall be determined as follows: 

  

	 	14.1.1	 Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed
effectively given on the date of delivery or refusal at the address specified for notices. 

  

	 	14.1.2	 Notices given by facsimile transmission shall be deemed effectively given on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission). 

  

	 	14.2	 For the purpose of notices, the addresses of the Parties are as follows: 

 

					
	                    	 	Party A:	  	Dada Glory Network Technology (Shanghai) Co., Ltd.
		 	Address:	  	Room 1495, No. 1945, Siping Road, Yangpu District, Shanghai
		 	Attn:	  	Philip Jiaqi Kuai
		 	TEL:	  	+86 21 68596008
			
		 	Party B:	  	[Name]/[Enterprise Name]
		 	Address:	  	[Address]
		 	Attn:	  	[Name]
		 	TEL:	  	[Contact Number]

  
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	                    	 	Party C:	  	Shanghai Qusheng Internet Technology Co., Ltd.
		 	Address:	  	Room 1494, No. 1945, Siping Road, Yangpu District, Shanghai
		 	Attn:	  	Philip Jiaqi Kuai
		 	TEL:	  	+86 21 68596008

  

	 	14.3	 Any Party may at any time change its address for notices by a notice delivered to the other Parties in
accordance with the terms hereof. 

  

	15.	 SEVERABILITY  

In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in
accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid,
illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the
economic effect of those invalid, illegal or unenforceable provisions. 
  

	16.	 Attachments  

The attachments set forth herein shall be an integral part of this Agreement. 

 

	17.	 Effectiveness  

 

	 	17.1	 This Agreement shall become effective after the affixation of the signatures or seals of the Parties and record
of such equity interest pledge on the shareholders’ register of Party C. Any amendments, changes and supplements to this Agreement shall be in writing and shall become effective after the affixation of the signatures or seals of the Parties.

  

	 	17.2	 This Agreement is written in Chinese and English in four (4) copies. Each of the Pledgor, Pledgee and
Party C shall hold one (1) copy, respectively; and one (1) copy shall be submitted to the Registration Authority. Each copy of this Agreement shall have equal validity. In case there is any conflict between the Chinese version and the
English version, the Chinese version shall prevail. 

 [The space below is intentionally left blank.] 

  
 - 11 - 

 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Share
Pledge Agreement as of the date first above written. 
 Party A: Dada Glory Network Technology (Shanghai) Co., Ltd. 

 

			
	By:	 	 /s/ Philip Jiaqi Kuai

	Name:	 	Philip Jiaqi Kuai
	Title:	 	Legal Representative
	
	Party B: [Name]/[Enterprise Name]
		
	By:	 	 /s/ Name

	Name:	 	[Name]
	Title:	 	Authorized Signatory

			
	
	Party C: Shanghai Qusheng Internet Technology Co., Ltd

			
		
	By:	 	 /s/ Philip Jiaqi Kuai

	Name:	 	Philip Jiaqi Kuai
	Title:	 	Legal Representative

 [Signature Page to Share Pledge Agreement]EX-10.5

 Exhibit 10.5 

Exclusive Option Agreement 
 This Exclusive
Option Agreement (this “Agreement”) is executed by and among the following Parties as of February 20, 2017: 
  

	Party A:	 Dada Glory Network Technology (Shanghai) Co., Ltd. 

 

	Party B:	 Philip Jiaqi Kuai [PRC ID Card No.] 

 

	Party C:	 Shanghai Qusheng Internet Technology Co., Ltd., a limited liability company organized and existing under the
laws of PRC, with its address at Room 1494, No. 1945, Siping Road, Yangpu District, Shanghai. 

 In this Agreement, each of Party A,
Party B and Party C shall be referred to as a “Party” respectively, and they shall be collectively referred to as the “Parties”. 

Whereas: 
 Party B holds 85.50% of the equity interests in Party
C; and 
 Party B intends to grant Party A an irrevocable and exclusive right to purchase all the equity interests in Party C then held by Party B. 

Now therefore, upon mutual discussion and negotiation, the Parties have reached the following agreement: 

 

	1.	 Sale and Purchase of Equity Interest 

 

	1.1	 Option Granted 

Party B hereby irrevocably grants Party A an irrevocable and exclusive right to purchase, or designate one or more persons (each, a
“Designee”) to purchase the equity interests in Party C then held by Party B once or at multiple times at any time in part or in whole at Party A’s sole and absolute discretion to the extent permitted by Chinese laws and at the
price described in Section 1.3 herein (such right being the “Equity Interest Purchase Option”). Except for Party A and the Designee(s), no other person shall be entitled to the Equity Interest Purchase Option or other rights
with respect to the equity interests of Party B. Party C hereby agrees to the grant by Party B of the Equity Interest Purchase Option to Party A. The term “person” as used herein shall refer to individuals, corporations, partnerships,
partners, enterprises, trusts or non-corporate organizations. 
  

	1.2	 Steps for Exercise of Equity Interest Purchase Option 

Subject to the provisions of the laws and regulations of China, Party A may exercise the Equity Interest Purchase Option by issuing a written
notice to Party B (the “Equity Interest Purchase Option Notice”), specifying: (a) Party A’s decision to exercise the Equity Interest Purchase Option; (b) the portion of equity interests to be purchased from Party B
(the “Optioned Interests”); and (c) the date for purchasing the Optioned Interests and/or the date for transfer of the Optioned Interests. 

  
 1 

	1.3	 Equity Interest Purchase Price and Its Payment 

Unless an appraisal is required by the laws of China applicable to the Equity Interest Purchase Option when exercised by Party A, the purchase
price of the Optioned Interests (the “Equity Interest Purchase Price”) shall be the lowest price as permitted by the applicable PRC laws at the time of the transfer of the Optioned Interests. After necessary withholding and paying
of tax monies according to the applicable laws of China, the Equity Interest Purchase Price will be wired to bank account(s) specified by Party B by Party A within seven (7) days after the date on which the Optioned Interests are officially
transferred to Party A. 
  

	1.4	 Transfer of Optioned Interests 

For each exercise of the Equity Interest Purchase Option: 
  

	 	1.4.1	 Party B shall cause Party C to promptly convene a shareholders’ meeting, at which a resolution shall be
adopted approving Party B’s transfer of the Optioned Interests to Party A and/or the Designee(s); 

  

	 	1.4.2	 Party B shall execute a share transfer contract with respect to each transfer with Party A and/or each Designee
(whichever is applicable), in accordance with the provisions of this Agreement and the Equity Interest Purchase Option Notice regarding the Optioned Interests; 

 

	 	1.4.3	 The relevant Parties shall execute all other necessary contracts, agreements or documents (including without
limitation the Articles of Association of the company), obtain all necessary government licenses and permits (including without limitation the Business License of the company) and take all necessary actions to transfer valid ownership of the
Optioned Interests to Party A and/or the Designee(s), unencumbered by any security interests, and cause Party A and/or the Designee(s) to become the registered owner(s) of the Optioned Interests. For the purpose of this Section and this Agreement,
“security interests” shall include securities, mortgages, third party’s rights or interests, any stock options, acquisition right, right of first refusal, right to offset, ownership retention or other security arrangements, but shall
be deemed to exclude any security interest created by this Agreement and Party B’s Share Pledge Agreement. “Party B’s Share Pledge Agreement” as used in this Section and this Agreement
shall refer to the Share Pledge Agreement (“Share Pledge Agreement”) executed by and among Party B, Party C and Party A as of the date hereof, whereby Party B pledges all of its equity interests in Party
C to Party A, in order to guarantee Party C’s performance of its obligations under the exclusive business corporation agreement executed by and between Party C and Party A on November 14, 2014 (“Exclusive Business
Corporation Agreement”). 

  

	2.	 Covenants 

 

	2.1	 Covenants regarding Party C 

Party B (as the shareholders of Party C) and Party C hereby covenant as follows: 

  
 2 

	 	2.1.1	 Without the prior written consent of Party A, they shall not in any manner supplement, change or amend the
articles of association and bylaws of Party C, increase or decrease its registered capital, or change its structure of registered capital in other manners; 

  

	 	2.1.2	 They shall maintain Party C’s corporate existence in accordance with good financial and business standards
and practices by prudently and effectively operating its business and handling its affairs, and to cause Party C to perform its obligations under the Exclusive Business Cooperation Agreement; 

 

	 	2.1.3	 Without the prior written consent of Party A, they shall not at any time following the date hereof, sell,
transfer, mortgage or dispose of in any manner any assets of Party C or legal or beneficial interest in the business or revenues of Party C, or allow the encumbrance thereon of any security interest; 

 

	 	2.1.4	 After mandatory liquidation described in Section 3.6 below, Party B will remit in full to the Party A any
residual interest Party B receives in a nonreciprocal transfer or cause it happen. If such transfer is prohibited by the laws of PRC, Party B will remit the proceeds to Party A or its designated person(s) in a manner permitted under the laws of PRC;

  

	 	2.1.5	 Without the prior written consent of Party A, they shall not incur, inherit, guarantee or suffer the existence
of any debt, except for (i) debts incurred in the ordinary course of business other than through loans; and (ii) debts disclosed to Party A for which Party A’s written consent has been obtained; 

 

	 	2.1.6	 They shall always operate all of Party C’s businesses during the ordinary course of business to maintain
the asset value of Party C and refrain from any action/omission that may affect Party C’s operating status and asset value; 

  

	 	2.1.7	 Without the prior written consent of Party A, they shall not cause Party C to execute any major contract,
except the contracts in the ordinary course of business (for purpose of this subsection, a contract with a value exceeding RMB 100,000 shall be deemed a major contract); 

 

	 	2.1.8	 Without the prior written consent of Party A, they shall not cause Party C to provide any person with any loan
or credit or guarantee in any form; 

  

	 	2.1.9	 They shall provide Party A with information on Party C’s business operations and financial condition at
Party A’s request; 

  

	 	2.1.10	 If requested by Party A, they shall procure and maintain insurance in respect of Party C’s assets and
business from an insurance carrier acceptable to Party A, at an amount and type of coverage typical for companies that operate similar businesses; 

  

	 	2.1.11	 Without the prior written consent of Party A, they shall not cause or permit Party C to merge, consolidate
with, acquire or invest in any person, and/or sell cause or permit Party C to sell assets with a value higher than RMB 100,000; 

  
 3 

	 	2.1.12	 They shall immediately notify Party A of the occurrence or possible occurrence of any litigation, arbitration
or administrative proceedings relating to Party C’s assets, business or revenue; 

  

	 	2.1.13	 To maintain the ownership by Party C of all of its assets, they shall execute all necessary or appropriate
documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary and appropriate defenses against all claims; 

 

	 	2.1.14	 Without the prior written consent of Party A, they shall ensure that Party C shall not in any manner distribute
dividends to its shareholders, provided that upon Party A’s written request, Party C shall immediately distribute all distributable profits to its shareholders; and 

 

	 	2.1.15	 At the request of Party A, they shall appoint any persons designated by Party A as directors of Party C or
replace any existing director(s) of Party C. 

  

	2.2	 Covenants of Party B and Party C 

Party B hereby covenants as follows: 
  

	 	2.2.1	 Without the prior written consent of Party A, Party B shall not sell, transfer, mortgage or dispose of in any
other manner any legal or beneficial interest in the equity interests in Party C held by Party B, or allow the encumbrance thereon of any security interest, except for the pledge placed on these equity interests in accordance with Party B’s
Share Pledge Agreement; 

  

	 	2.2.2	 Party B shall not put forward, or vote in favor of, any shareholder resolution to, or otherwise request Party C
to, issue any dividends or other distributions with respect to his equity interest in Party C; provided, however, in the event that he receives any profit, distribution or dividend from Party C, he shall, as permitted under the laws of PRC,
immediately pay or transfer such profit, distribution or dividend to Party A or to any party designated by Party A as service fees under the Exclusive Business Cooperation Agreement on behalf of Party C; 

 

	 	2.2.3	 Party B shall cause the shareholders’ meeting and/or the board of directors of Party C not to approve the
sale, transfer, mortgage or disposition in any other manner of any legal or beneficial interest in the equity interests in Party C held by Party B, or allow the encumbrance thereon of any security interest, without the prior written consent of Party
A, except for the pledge placed on these equity interests in accordance with Party B’s Share Pledge Agreement; 

  

	 	2.2.4	 Party B shall cause the shareholders’ meeting or the board of directors of Party C not to approve the
merger or consolidation with any person, or the acquisition of or investment in any person, without the prior written consent of Party A; 

  

	 	2.2.5	 Party B shall immediately notify Party A of the occurrence or possible occurrence of any litigation,
arbitration or administrative proceedings relating to the equity interests in Party C held by Party B; 

  

	 	2.2.6	 Party B shall cause the shareholders’ meeting or the board of directors of Party C to vote their approval
of the transfer of the Optioned Interests as set forth in this Agreement and to take any and all other actions that may be requested by Party A; 

  
 4 

	 	2.2.7	 To the extent necessary to maintain Party B’s ownership in Party C, Party B shall execute all necessary or
appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary and appropriate defenses against all claims; 

 

	 	2.2.8	 Party B shall appoint any designee of Party A as director of Party C, at the request of Party A;

  

	 	2.2.9	 At the request of Party A at any time, Party B shall promptly and unconditionally transfer its equity interests
in Party C to Party A’s Designee(s) in accordance with the Equity Interest Purchase Option under this Agreement, and Party B hereby waives its right of first refusal to the share transfer by the other existing shareholder of Party C (if any);
and 

  

	 	2.2.10	 Party B shall strictly abide by the provisions of this Agreement and other contracts jointly or separately
executed by and among Party B, Party C and Party A, perform the obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness and enforceability thereof. To the extent that Party B has any remaining
rights with respect to the equity interests subject to this Agreement hereunder or under the Share Pledge Agreement among the same parties hereto or under the Power of Attorney granted in favor of Party A, Party B shall not exercise such rights
except in accordance with the written instructions of Party A. 

  

	3.	 Representations and Warranties 

Party B and Party C hereby represent and warrant to Party A, jointly and severally, as of the date of this Agreement and each date of transfer
of the Optioned Interests, that: 
  

	3.1	 They have the authority to execute and deliver this Agreement and any share transfer contracts to which they
are a party concerning the Optioned Interests to be transferred thereunder (each, a “Transfer Contract”), and to perform their obligations under this Agreement and any Transfer Contracts. Party B and Party C agree to enter into Transfer
Contracts consistent with the terms of this Agreement upon Party A’s exercise of the Equity Interest Purchase Option. This Agreement and the Transfer Contracts to which they are a party constitute or will constitute their legal, valid and
binding obligations and shall be enforceable against them in accordance with the provisions thereof; 

  

	3.2	 The execution and delivery of this Agreement or any Transfer Contracts and the obligations under this Agreement
or any Transfer Contracts shall not: (i) cause any violation of any applicable laws of China; (ii) be inconsistent with the articles of association, bylaws or other organizational documents of Party C; (iii) cause the violation of any
contracts or instruments to which they are a party or which are binding on them, or constitute any breach under any contracts or instruments to which they are a party or which are binding on them; (iv) cause any violation of any condition for
the grant and/or continued effectiveness of any licenses or permits issued to either of them; or (v) cause the suspension or revocation of or imposition of additional conditions to any licenses or permits issued to either of them;

  
 5 

	3.3	 Party B has a good and merchantable title to the equity interests in Party C he holds. Except for Party
B’s Share Pledge Agreement, Party B has not placed any security interest on such equity interests; 

  

	3.4	 Party C has a good and merchantable title to all of its assets, and has not placed any security interest on the
aforementioned assets; 

  

	3.5	 Party C does not have any outstanding debts, except for (i) debt incurred in the ordinary course of
business; and (ii) debts disclosed to Party A for which Party A’s written consent has been obtained; 

  

	3.6	 If the laws of PRC requires it to be dissolved or liquidated, Party C shall sell all of its assets to the
extent permitted by the laws of PRC to Party A or another qualifying entity designated by Party A, at the lowest selling price permitted by applicable the laws of PRC. Any obligation for Party A to pay Party C as a result of such transaction shall
be forgiven by Party C or any proceeds from such transaction shall be paid to Party A or the qualifying entity designated by Party A in partial satisfaction of the service fees under the Exclusive Business Corporation Agreement, as applicable under
then-current the laws of PRC; 

  

	3.7	 Party C has complied with all laws and regulations of China applicable to asset acquisitions; and

  

	3.8	 There are no pending or threatened litigation, arbitration or administrative proceedings relating to the equity
interests in Party C, assets of Party C or Party C. 

  

	4.	 Effective Date 

This Agreement shall become effective upon the date hereof, and remain effective for a term of 10 years, and may be renewed at Party A’s
election. Should Party A fails to confirm extension of this Agreement upon the expiry of this Agreement, this Agreement shall be automatically renewed until such time Party A delivers a confirmation letter specifying the renewal term of this
Agreement. 
  

	5.	 Governing Law and Resolution of Disputes 

 

	5.1	 Governing law 

The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder
shall be governed by the formally published and publicly available laws of China. Matters not covered by formally published and publicly available laws of China shall be governed by international legal principles and practices. 

 

	5.2	 Methods of Resolution of Disputes 

In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute
through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute within 30 days after either Party’s request to the other Parties for resolution of the dispute through negotiations, either Party may submit the
relevant dispute to the China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration, in accordance with its then effective arbitration rules. The arbitration shall be conducted in Beijing, and the
language used in arbitration shall be Chinese. The arbitration award shall be final and binding on all Parties. 

  
 6 

	6.	 Taxes and Fees 

Party C shall bear and be responsible for any and all transfer and registration tax, expenses and fees incurred thereby or levied thereon in
accordance with the laws of China in connection with the preparation and execution of this Agreement and the Transfer Contracts, as well as the consummation of the transactions contemplated under this Agreement and the Transfer Contracts. In the
event that Party B is required by competent tax authority to pay some related taxes and fees, Party C shall fully indemnify Party B for the taxes and fees paid by Party B. 
  

	7.	 Notices 

 

	7.1	 All notices and other communications required or permitted to be given pursuant to this Agreement shall be
delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the address of such Party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on
which notices shall be deemed to have been effectively given shall be determined as follows: 

  

	 	7.1.1	 Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed
effectively given on the date of delivery or refusal at the address specified for notices. 

  

	 	7.1.2	 Notices given by facsimile transmission shall be deemed effectively given on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission). 

  

	7.2	 For the purpose of notices, the addresses of the Parties are as follows: 

 

			
	 Party A:        
	  	Dada Glory Network Technology (Shanghai) Co., Ltd.
	 Address:
	  	Room 1495, No. 1945, Siping Road, Yangpu District, Shanghai
	 Attn:
	  	Philip Jiaqi Kuai
	 TEL:
	  	+86 21 68596008
		
	 Party B:
	  	Philip Jiaqi Kuai
	 Address:
	  	Room 1603, Longyu Building, 1036 Pudong Nan Road, China (Shanghai) Pilot Free Trade Zone
	 TEL:
	  	+86 21 68596008
		
	 Party C:
	  	Shanghai Qusheng Internet Technology Co., Ltd.
	 Address:
	  	Room 1494, No. 1945, Siping Road, Yangpu District, Shanghai
	 Attn:
	  	Philip Jiaqi Kuai
	 TEL:
	  	+86 21 68596008

  

	7.3	 Any Party may at any time change its address for notices by a notice delivered to the other Parties in
accordance with the terms hereof. 

  
 7 

	8.	 Confidentiality  

The Parties acknowledge that any oral or written information exchanged among them with respect to this Agreement is confidential information.
Each Party shall maintain the confidentiality of all such information, and without obtaining the written consent of other Parties, it shall not disclose any relevant information to any third parties, except in the following circumstances:
(a) such information is or will be in the public domain (provided that this is not the result of a public disclosure by the receiving Party); (b) information disclosed as required by applicable laws or rules or regulations of any stock
exchange; or (c) information required to be disclosed by any Party to its legal counsel or financial advisor regarding the transaction contemplated hereunder, and such legal counsel or financial advisor are also bound by confidentiality duties
similar to the duties in this Section. Disclosure of any confidential information by the staff members or agency hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for
breach of this Agreement. This Section shall survive the termination of this Agreement for any reason. 
  

	9.	 Further Warranties 

The Parties agree to promptly execute documents that are reasonably required for or are conducive to the implementation of the provisions and
purposes of this Agreement and take further actions that are reasonably required for or are conducive to the implementation of the provisions and purposes of this Agreement. 
  

	10.	 Miscellaneous  

 

	10.1	 Amendment, change and supplement 

Any amendment, change and supplement to this Agreement shall require the execution of a written agreement by all of the Parties. 

 

	10.2	 Entire agreement 

Except for the amendments, supplements or changes in writing executed after the execution of this Agreement, this Agreement shall constitute
the entire agreement reached by and among the Parties hereto with respect to the subject matter hereof, and shall supercede all prior oral and written consultations, representations and contracts reached with respect to the subject matter of this
Agreement. 
  

	10.3	 Headings 

The headings of this Agreement are for convenience only, and shall not be used to interpret, explain or otherwise affect the meanings of the
provisions of this Agreement. 
  

	10.4	 Language 

This Agreement is written in both Chinese and English language in six (6) copies, Party A, Party B and Party C having one (1) copy
with equal legal validity; in case there is any conflict between the Chinese version and the English version, the English version shall prevail. 
  

	10.5	 Severability 

  
 8 

 In the event that one or several of the provisions of this Agreement are found to be
invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall
strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective
provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 
  

	10.6	 Successors 

This Agreement shall be binding on and shall inure to the interest of the respective successors of the Parties and the permitted assigns of
such Parties. 
  

	10.7	 Survival 

  

	 	10.7.1	 Any obligations that occur or that are due as a result of this Agreement upon the expiration or early
termination of this Agreement shall survive the expiration or early termination thereof. 

  

	 	10.7.2	 The provisions of Sections 5, 7, 8 and this Section 10.8 shall survive the termination of this Agreement.

  

	10.8	 Waivers 

Any Party may waive the terms and conditions of this Agreement, provided that such a waiver must be provided in writing and shall require the
signatures of the Parties. No waiver by any Party in certain circumstances with respect to a breach by other Parties shall operate as a waiver by such a Party with respect to any similar breach in other circumstances. 

[Remainder of this page is intentionally left blank.] 

  
 9 

 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Exclusive
Option Agreement as of the date first above written. 
 Party A: Dada Glory Network Technology (Shanghai) Co., Ltd. 

 

			
	By:	 	 /s/ Philip Jiaqi Kuai

	Name:	 	Philip Jiaqi Kuai
	Title:	 	Legal Representative

 Party B: Philip Jiaqi Kuai 
  

			
	By:     	 	 /s/ Philip Jiaqi Kuai

 Party C: Shanghai Qusheng Internet Technology Co., Ltd. 

 

			
	By:	 	 /s/ Philip Jiaqi Kuai

	Name:	 	Philip Jiaqi Kuai
	Title:	 	Legal Representative

 SIGNATURE PAGE TO EXCLUSIVE OPTION AGREEMENT

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