Document:

Exhibit 10.1(b)

 

CONFIDENTIAL TREATMENT REQUESTED
BY HIGHPOWER INTERNATIONAL, INC.

 

    	 	 	 

     

    

 

Supplementary Agreement (II)

to Capital Increase Agreement of Yipeng Energy Technology Co. Ltd.

 

Party A (Current Investor):  Huizhou Highpower Technology
Co. Ltd.

 

Address:  Xinhu Industrial Development Area, Ma’an
Town, Huicheng District, Huizhou City, Guangdong Province

 

Legal Representative:  Pan Dangyu

 

Party B (Founding Team):  (the members are hereinafter
referred to collectively as “Party B”)

 

Name:  Shenzhen Jinpenglong Traffic Technology Co.
Ltd.

 

Address:  East 6H18, 6/F, Shenhua Technology Industrial
Park, Meihua Road, Futian District, Shenzhen

 

Legal Representative:  He Ping

 

Organization Code Certificate No.:  69712844-1

 

Name:  He Ping

 

Address:  No. 25, 2nd Door, Bldg. 15, No. A8, Xinwai
Street, Xicheng District, Beijing

 

Name: S hu Jianqin

 

Address:  Fangjiaju Street, Fangjiaju Villiage, Yingshan
County, Hubei Province

 

Party C (Investors):  (the members are hereinafter
referred to collectively as “Party C”)

 

Name:  Beijing Defengjie Fuhua Venture Investment
Fund Management Center (limited partnership)

 

Address:  Room 37, 1/F, Bldg. 23, No. 72, Qinghe Third
Street, Haidian District, Beijing

 

Unified Social Credit Code:  91110108318078553P

 

Name:  Qu Jingdong

 

Address:  No. 701, 1st Door, Bldg. 18, Shangdi Digital
Park, An’ning Zhuang, Haidian District, Beijing

 

Name:  Yang Lishan

 

Address:  Zhongguancun South Street, Haidian District,
Beijing

 

Party D:  Huizhou Yipeng Energy Technology (“Party
D” or “the Target Company”)

 

Address:  (Workshop Building B1) No. 1, Qunliao Road,
Ma’an Town, Huicheng District, Huizhou

 

Legal Representative:  He Ping

 

Party A, Party B, Party C and Party D are hereinafter referred
to collectively as “the Parties” and individually as “one Party”.

 

This Agreement is made and entered into amongst the foregoing
Parties in Huizhou June 30, 2016.

 

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Whereas:  Party A’s parent company, Highpower
International, is a listed company. The board of directors of Highpower International attached great importance to this investment
transaction and presented some core problems concerned by the board of directors. Party D gave supplementary replies on these core
problems as follows:

 

Article 1:  Core competitiveness of Yipeng.

 

Question:  Yipeng have no core technology of power
batteries. In other words, Yipeng is incapable of producing and manufacturing “cell” and “management system”.
What is Yipeng’s core competitiveness?

 

Yipeng replied:  The value of Yipeng is mainly reflected
in the following three aspects:

 

Cell technology:  Yipeng has the formula of cell technology
and make mass production of the power cell technology through cooperation with the group of Highpower.

 

PACK technology:  Yipeng has air-cooling and liquid-cooling
technology. More than 700 buses have been applied and put into market, without any bad feedback;

 

BMS: [***] is invested, established and controlled by Yipeng’s
shareholder and the purchase price is not higher than the counterpart Yineng.

 

The core competitiveness of Yipeng is actually the integration
capability of Yipeng’s successful business mode and excellent resources in the past three years.

 

Article 2:  Profitability of Yipeng:

 

Question:  There are provisions for performance compensation
in the investment cooperation agreement, but how to embody and ensure the growth of Yipeng’s profits?

 

Yipeng replied:  Yipeng’s minimum sales target
is [***] this year. Affected by the national subsidy policy, Yipeng completed about 30 million Yuan and got one to two million
Yuan of profits of profits in the first half year. Yipeng is now a standard supplier of [***] and [***] and has received an order
of [***] from [***]. It is estimated to start mass production in the second half year and we will make a dash towards the target
of [***] this year. Yipeng may make adjustment flexibly according to its performance needs. For example, it may change [***] for
pure electric rapid charge of [***]. The profit will be [***]. If productivity can fully form sales volume this year, the profit
target of this year may be [***].

 

Yipeng’s target in 2017 is to realize over [***] of PHEV
and achieve [***] of productivity reserves. [***] conservatively estimated [***] on demand.

 

Yipeng’s sales target in 2018 is [***], which requires
realization of [***] of PHEV in total.

 

Yipeng’s sales volume: PHEV accounts for 90-95%, while
BEV accounts for 5-10%. Centralized on PHEV and auxiliary by BEV, we can not only play our advantages but also make good technical
reserves for BEV market, and meanwhile, promote the modification of the cell plan.

 

Article 3:  In case of any discrepancy between
a document and/or an agreement signed by the Parties and this Agreement prior to signature of this Agreement, this Agreement shall
prevail. The Parties have the obligation to amend the document and/or agreement signed to ensure consistency with this Agreement.
In case of matters concerned in an agreement signed by the Parties and provided herein, this Agreement shall prevail. All clauses
in conflict with the stipulations of this Agreement shall be invalid.

 

Article 4:  All aspects of this Agreement shall
be governed by laws of the People’s Republic of China.

 

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Article 5:  A dispute arising from the execution
of this Agreement may be submitted by one Party to Huizhou Arbitration Committee for arbitration according to the current effective
arbitration rules of the Committee. Arbitration shall be made in Chinese in Huizhou. The arbitral award shall be final and binding
upon the Parties.

 

Article 6:  This Agreement is made out in eight
originals for the Parties hereto each holding one, which shall be equally authentic.

 

Article 7:  This Agreement shall be established
and come into force as of the date of signature of the Parties.

 

(The remainder of this page is intentionally left blank.)

 

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Party A:  Huizhou Highpower Technology Co. Ltd. (Seal)

 

Legal Representative/Authorized Representative:  (Signature):  /s/
Pan Dangyu

 

Party B:  (the following members are hereinafter referred
to collectively as “Party B”)

 

Name:  Shenzhen Jinpenglong Traffic Technology Co.
Ltd. (Seal)

 

Legal Representative/Authorized Representative:  (Signature):  /s/
He Ping

 

Name:  He Ping      Signature:  /s/
He Ping

 

Name:  Shu Jianqin    Signature:  /s/
Shu Jianqin

 

Party C:  (the following members are hereinafter referred
to collectively as “Party C”)

 

Name:  Beijing Defengjie Fuhua Venture Investment
Fund Management Center (limited partnership) (Seal)

 

Legal Representative/Authorized Representative:  (Signature):  /s/
Qu Jingdong

 

Name:  Qu Jingdong    Signature:  /s/
Qu Jingdong

 

Name:  Yang Lishan    Signature:  /s/
Yang Lishan

 

Party D:  Huizhou Yipeng Energy Technology Co. Ltd.
(Seal)

 

Legal Representative/Authorized Representative:  (Signature):  /s/
He Ping

 

    	 	4Exhibit 10.1(c)

 

 

Supplementary Agreement (III) to

Capital Increase Agreement of Yipeng Energy Technology Co. Ltd.

 

Party A (Current Investor):  Huizhou Highpower Technology
Co. Ltd.

 

Address:  Xinhu Industrial Development Area, Ma’an
Town, Huicheng District, Huizhou City, Guangdong Province

 

Legal Representative:  Pan Dangyu

 

Party B (Founding Team):  (the members are hereinafter
referred to collectively as “Party B”)

 

Name:  Shenzhen Jinpenglong Traffic Technology Co.
Ltd.

 

Address:  East 6H18, 6/F, Shenhua Technology Industrial
Park, Meihua Road, Futian District, Shenzhen

 

Legal Representative:  He Ping

 

Organization Code Certificate No.:  69712844-1

 

Name: He Ping

 

Address:  No. 25, 2nd Door, Bldg. 15, No. A8, Xinwai
Street, Xicheng District, Beijing

 

Name:  Shu Jianqin

 

Address:  Fangjiaju Street, Fangjiaju Villiage, Yingshan
County, Hubei Province

 

Party C (Investors):  (the members are hereinafter
referred to collectively as “Party C”)

 

Name:  Beijing Defengjie Fuhua Venture Investment
Fund Management Center (limited partnership)

 

Address:  Room 37, 1/F, Bldg. 23, No. 72, Qinghe Third
Street, Haidian District, Beijing

 

Unified Social Credit Code:  91110108318078553P

 

Name:  Qu Jingdong

 

Address:  No. 701, 1st Door, Bldg. 18, Shangdi Digital
Park, An’ning Zhuang, Haidian District, Beijing

 

Name:  Yang Lishan

 

Address:  Zhongguancun South Street, Haidian District,
Beijing

 

Party D:  Huizhou Yipeng Energy Technology (“Party
D” or “the Target Company”)

 

Address:  (Workshop Building B1) No. 1, Qunliao Road,
Ma’an Town, Huicheng District, Huizhou

 

Legal Representative:  He Ping

 

Party A, Party B, Party C and Party D are hereinafter referred
to collectively as “the Parties” and individually as “one Party”.

 

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Whereas:

 

The Parties made and entered into the “Capital Increase
Agreement of Yipeng Energy Technology Co. Ltd.” (hereinafter referred to as the Capital Increase Agreement) on June 30, under
which Party A shall increase capital investment to Party D, and Party B and Party C are Party D’s shareholders.

 

IN WITNESS WHEREOF, the Parties agree as follows:

 

Article 1:  With the unanimous agreement of
all parties, the closing date of first phase investment (power battery equipment with around 45 Million RMB value, which will subject
to actual amount, and 15 Million RMB in cash) will be changed from August 5th to August 10th.

 

Article 2:  In case of any discrepancy between
a document and/or an agreement signed by the Parties and this Agreement prior to signature of this Agreement, this Agreement shall
prevail. The Parties have the obligation to amend the document and/or agreement signed to ensure consistency with this Agreement.
In case of matters concerned in an agreement signed by the Parties and provided herein, this Agreement shall prevail. All clauses
in conflict with the stipulations of this Agreement shall be invalid.

 

Article 3:  All aspects of this Agreement shall
be governed by laws of the People’s Republic of China.

 

Article 4:  A dispute arising from the execution
of this Agreement may be submitted by one Party to Huizhou Arbitration Committee for arbitration according to the current effective
arbitration rules of the Committee. Arbitration shall be made in Chinese in Huizhou. The arbitral award shall be final and binding
upon the Parties.

 

(The remainder of this page is intentionally left blank.)

 

    	 	2	 

     

    

  

Party A:  Huizhou Highpower Technology Co. Ltd. (Seal)

 

Legal Representative/Authorized Representative:  (Signature):  /s/
Pan Dangyu

 

Party B:  (the following members are hereinafter referred
to collectively as “Party B”)

 

Name:  Shenzhen Jinpenglong Traffic Technology Co.
Ltd. (Seal)

 

Legal Representative/Authorized Representative: (Signature):  /s/
He Ping

 

Name:  He Ping      
Signature:  /s/ He Ping

 

Name:  Shu Jianqin    Signature:  /s/
Shu Jianqin

 

Party C:  (the following members are hereinafter referred
to collectively as “Party C”)

 

Name:  Beijing Defengjie Fuhua Venture Investment
Fund Management Center (limited partnership) (Seal)

 

Legal Representative/Authorized Representative:  (Signature):  /s/
Qu Jingdong

 

Name:  Qu Jingdong    Signature:  /s/
Qu Jingdong

 

Name:  Yang Lishan    Signature:  /s/
Yang Lishan

 

Party D:  Huizhou Yipeng Energy Technology Co. Ltd.
(Seal)

 

Legal Representative/Authorized Representative:  (Signature):  /s/
He Ping

 

    	 	3

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