Document:

EX-4.3

 Exhibit 4.3 

FOURTH AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 

by and among 
 Oriental Standard
Human Resources Holdings Limited 
 Wu Lei 

Talent Boom Group Limited 
 Ji
Xiang Hu Tong Holdings Limited 
 Pan Lianya 

FireDragon Holdings Inc. 
 DCM IV,
L.P. 
 DCM Affiliates Fund IV, L.P. 

Hong Kong Red Star Macalline Universal Home Furnishings Limited 

Honeysuckle Creek Limited 

Buhuovc Limited Partnership 
 RS
Tuyu Enterprise Management Consulting Limited 
 AND 

HUA YUAN INTERNATIONAL LIMITED 
  

 
 Dated February 28, 2021 

 FOURTH AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 
 This Fourth
Amended and Restated Registration Rights Agreement (this “Agreement”), dated February 28, 2021, is made and entered into by and among: 
  

	1.	 Oriental Standard Human Resources Holdings Limited, an exempted company with limited liability organized and
existing under the laws of the Cayman Islands (the “Company”); 

  

	2.	 DCM IV, L.P. and DCM Affiliates Fund IV, L.P., each a partnership duly formed and validity existing under the
laws of the Cayman Islands (collectively, “DCM”); 

  

	3.	 Hong Kong Red Star Macalline Universal Home Furnishings Limited (香港红星美凯龙全球家居有限公司), a company incorporated under the Laws of the Hong Kong (“Red
Star”); 

  

	4.	 Wu Lei, a Hong Kong citizen with passport
number                (“Mr. Wu”); 

  

	5.	 Talent Boom Group Limited, a company with limited liability organized and existing under the law of the British
Virgin Islands (“Talent Boom”); 

  

	6.	 Ji Xiang Hu Tong Holdings Limited, a company organized under the Laws of the British Virgin Islands;

  

	7.	 Pan Lianya, a U.S. citizen with passport
number                (“Mr. Pan” and collectively with Mr. Wu, Talent Boom, Ji Xiang Hu Tong Holdings Limited and FireDragon,
the “Founders” and individually, a “Founder”); 

  

	8.	 FireDragon Holdings Inc., a company with limited liability organized and existing under the law of the British
Virgin Islands (“FireDragon”); 

  

	9.	 Honeysuckle Creek Limited, a company with limited liability incorporated and validity existing under the laws
of British Virgin Islands (“JD”); 

  

	10.	 HUA YUAN INTERNATIONAL LIMITED, a company incorporated and validity existing under the laws of Hong Kong
(“Oriza”); 

  

	11.	 Buhuovc Limited Partnership, a limited partnership incorporated and validly existing under the laws of the
Cayman Islands (“Buhuovc”); 

  
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	12.	 RS Tuyu Enterprise Management Consulting Limited, a private company incorporated and existing under the laws of
Hong Kong (“Tuyu”). 

 WHEREAS, pursuant to the terms and conditions of the Series E Preferred
Shares Subscription Agreement (the “Subscription Agreement”), dated November 24, 2020, by and among the Company, JD and certain other parties thereto, upon the Closing (as defined in the Subscription Agreement) and certain
shares transfer agreements by and among the Company, DT Ventures China Fund II, L.P. and/or DT eCommerce Investment Limited, JD/ Oriza / Buhuovc / Tuyu, and certain other parties (as applicable, collectively, the “Shares Transfer
Agreements”), and JD shall hold (i) at aggregate of 1,359,901,308 Series E Shares (as defined below) of the Company; (ii) at aggregate of 6,008,640 Series A Shares (as defined below) of the Company; (iii) at aggregate of
146,853,065 Series B Shares (as defined below) of the Company; and (iv) at aggregate of 592,904,279 Series C Shares (as defined below) of the Company, and Oriza shall hold (i) at aggregate of 639,953,557 Series E Shares of the Company; and
(ii) at aggregate of 1,143,182,601 Series C Shares (as defined below) of the Company, and Buhuovc shall hold at aggregate of 767,296,985 Series B Shares (as defined below) of the Company, and Tuyu shall hold (i) at aggregate of 14,020,160
Series A Shares; (ii) at aggregate of 342,657,150 Series B Shares; and (iii) at aggregate of 443,264,635 Series C Shares. 

WHEREAS, the Company, DCM, Red Star, JD and certain other parties thereto entered into a Fifth Amended and Restated Shareholders
Agreement (the “Shareholders Agreement” capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to them in the Shareholders Agreement), dated February 28, 2021; and 

WHEREAS, the Company and the Preferred Shareholders desire to provide for the circumstances under which the Company will register
securities of the Company on behalf of the Preferred Shareholders or their successors or permitted assigns. 
 NOW, THEREFORE, in
consideration of the foregoing premises and of the mutual covenants and obligations hereinafter set forth, the Company hereby covenants and agrees with the other parties hereto as follows: 

SECTION 1. DEFINITIONS AND INTERPRETATION 

1.1    As used in this Agreement, and unless the context requires a different meaning, the following terms shall have the
following respective meanings: 
 “Articles of Association” shall mean the Sixth Amended and Restated Memorandum and
Articles of Association of the Company as in effect on February 28, 2021 and as amended and restated thereafter. 

  
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 “Board” shall mean the board of directors of the Company. 

“Commission” shall mean the United States Securities and Exchange Commission or any successor agency. 

“Exchange Act” shall mean the United States Securities Exchange Act of 1934, as amended. 

“Initial Offering” shall mean the Company’s first firm commitment underwritten public offering of the Ordinary Shares
under the Securities Act. 
 “Ordinary Shares” shall mean the ordinary shares, par value 0.0001 per share, of the Company.

 “Preferred Majority Holders” shall mean the holders representing seventy-five percent (75%) of the Series A Shares, the
Series B Shares, the Series C Shares and the Series D Shares then outstanding, voting as a single class on an as converted basis and the holders representing fifty percent (50%) of the Series E Shares then outstanding, voting as a single class on an
as converted basis. 
 “Qualified IPO” shall mean a firm-commitment public offering by the Company of its Ordinary Shares
that (i) has been registered under the Securities Act on the Nasdaq National Market System or New York Stock Exchange in the U.S., the Main-Board Market or the Growth Enterprise Market in Hong Kong or mainland of the PRC, and by a prestigious
investment bank as the underwriter, as approved by the majority of the members of the Board, including at least two (2) Preferred Directors, or (ii) has been registered under any similar act on any other exchange in any other jurisdiction
(or any combination of such exchanges and jurisdictions), and by a prestigious investment bank as the underwriter, as approved by the majority of the members of the Board, including at least two (2) Preferred Directors, (ii) which results
in the Ordinary Shares trading publicly immediately after such registration or the shortest lockup period, and (iii) in each case at a price per share implying a pre-money valuation of the Company of at
least RMB3.5 billion or equivalent US dollars and yielding gross proceeds to the Company of not less than RMB300 million or equivalent US dollars. 

“Requesting Holder” shall have the meaning ascribed to in Section 2.1 of this Agreement. 

“Request Notice” shall have the meaning ascribed to in Section 2.1 of this Agreement. 

  
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 “Registration Expenses” shall mean expenses so described in Section 5
hereof. 
 “Restricted Securities” shall mean the Series A Shares, the Series B Shares, the Series C Shares, the Series D
Shares, the Series E Shares and the Restricted Shares. 
 “Restricted Shares” shall mean any and all Ordinary Shares into
which the Preferred Shares are convertible (the “Conversion Shares”) and any equity capital or other securities issued or issuable with respect to such Preferred Shares or Conversion Shares by way of a share dividend or share split
or in connection with a combination of shares, recapitalization, merger, conversion, consolidation or other reorganization. 

“Securities Act” shall mean the United States Securities Act of 1933, as amended. 

“Selling Expenses” shall mean the expenses so described in Section 5 hereof. 

“Series A Shares” shall mean the series A redeemable convertible preferred shares, par value US$0.0001 per share, of the
Company. 
 “Series B Shares” shall mean the series B redeemable convertible preferred shares, par value US$0.0001 per
share, of the Company. 
 “Series C Shares” shall mean the series C redeemable convertible preferred shares, par value
US$0.0001 per share, of the Company. 
 “Series D Shares” shall mean the series D redeemable convertible preferred shares,
par value US$0.0001 per share, of the Company. 
 “Series E Shares” shall mean the series E redeemable convertible
preferred shares, par value US$0.0001 per share, of the Company. 
 1.2    All references herein to “Forms” or
“Rules” refer to the relevant Form or Rule, as the case may be, promulgated by the Commission. 
 1.3    For
the purposes of this Agreement, reference to registration of securities under the Securities Act and the Exchange Act shall also include the equivalent registration in a jurisdiction other than the United States as designated by such holders of
Restricted Securities, it being understood and agreed that in each such event all references in this Agreement to the Securities Act, the Exchange Act and rules, forms of registration statements and registration of securities thereunder, and to laws
of the United States and the Commission, shall be deemed to refer to the equivalent statutes, rules, forms of registration statements, registration of securities and laws of and equivalent government authority in the applicable non-U.S. jurisdiction. 

  
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 SECTION 2.    DEMAND REGISTRATION 

2.1    At any time beginning after the earlier of three (3) years from the date hereof or six (6) months
following the completion of the Initial Offering, the holders of at least fifteen percent (15%) of the Restricted Securities (each a “Requesting Holder”) may, by written notice, request that the Company effect a registration in any
jurisdiction in which the Company has had a registered underwritten public offering (or, if the Company has not yet had a registered underwritten public offering, then such request may be to effect such registration on the New York Stock Exchange or
the NASDAQ National Market System), of all or any portion of the Restricted Shares held by such Requesting Holder (or which would be held by such Requesting Holder, upon conversion of the Preferred Shares owned by such Requesting Holder) (the
“Request Notice”), including without limitation any registration statement filed under the Securities Act providing for the registration of, and the sale on a continuous or delayed basis by the Requesting Holder of, all of the
Restricted Securities pursuant to Rule 415 under the Securities Act and/or any similar rule that may be adopted by the Commission on Form F-1 or Form S-1 (or any
comparable form for registration in a jurisdiction other than the United States, if applicable) for sale in the manner specified in such notice; provided, however, that the Company shall not be obligated to register Restricted Shares
pursuant to such request: (i) subject to Section 3.1 below, during the period beginning thirty (30) days prior to the filing, and ending on a date ninety (90) days following the effective date, of a registration statement filed by the
Company relating to an underwritten offering only of the Company’s equity capital (other than a registration statement for the Company’s equity capital which does not give rise to incidental registration rights pursuant to Section 3.1
below); provided, however, that, within ten (10) days of the receipt of any request of the Requesting Holders to register Restricted Shares pursuant to this Section 2.1 the Company gives notice to the Requesting Holders of
its intent to file such registration statement; and provided further that the Company is actively employing in good faith its best efforts to cause such registration statement to become effective within sixty (60) days of the initial
filing; or (ii) if external U.S. counsel to the Company of reputable standing opines to the Requesting Holders within fifteen (15) days of the relevant request that the filing of such a registration statement would require the disclosure
of material non-public information about the Company that the Company is not otherwise required to disclose, the disclosure of which could have a material adverse effect on the business or financial condition
of the Company, in which event no such registration statement need be filed until the earlier of the lapse of sixty (60) days from the issuance of the opinion of counsel or such time as the information is no longer required to be disclosed, is
not material or non-public, or its disclosure would not have a material adverse effect on the business or financial condition of the Company; provided, however, that the Company may not exercise
its right under this clause (ii) more than once in any 12-month period. Notwithstanding anything to the contrary contained herein, no request may be made under this Section 2 within one hundred and
eighty (180) days after the effective date of a registration statement filed by the Company covering a firm commitment underwritten public offering in which the holders of Restricted Shares shall have been entitled to join pursuant to this
Section 2.1 or Section 3 hereof and in which there shall have been effectively registered all Restricted Shares as to which registration shall have been so requested. Notwithstanding the foregoing, the Company shall have no obligation to
effect a registration under this Section 2.1 unless the aggregate offering price of the securities requested to be sold pursuant to such registration is, in the good faith judgment of the Board, expected to be equal to or greater than US$5,000,000.

  
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 2.2    Promptly following receipt of any Request Notice under
Section 2.1, the Company shall immediately (no later than five (5) Business Days) notify all other holders of Restricted Shares from whom notice has not been received and shall file and use its best efforts to have declared effective a
registration statement under the Securities Act (or comparable law in a jurisdiction other than the United States) for the public sale, in accordance with the method of disposition specified in such notice from the Requesting Holders, of the number
of Restricted Shares specified in the Request Notice (and in any notices received from other holders of Restricted Shares within twenty (20) days after the receipt of the Request Notice by the Company). If such method of disposition shall be an
underwritten public offering, the Holders of a majority of the Restricted Shares that are included in such offering may designate the managing underwriter of such offering, subject to the approval of the Company, which approval shall not be
unreasonably withheld or delayed. The number of Restricted Shares to be included in such an underwriting may be reduced (pro rata among all holders requesting, under this Section 2, to participate in such registration) if and to the
extent that the managing underwriter shall be of the opinion that such inclusion would adversely affect the marketing of the securities to be sold therein; provided, however, that in no event shall Restricted Shares be excluded from
such underwriting unless all other securities are first excluded. With respect to the preceding sentence, if the Company elects to reduce pro rata the amount of Restricted Shares proposed to be offered in the underwriting, for purposes of
making any such reduction, each holder of Restricted Shares which is a partnership, together with the affiliates, partners, employees, retired partners and retired employees of such holder, the estates and family members of any such partners,
employees, retired partners and retired employees and of their spouses, and any trusts for the benefit of any of the foregoing persons shall be deemed to be a single “person”, and any pro rata reduction with respect to such
“person” shall be based upon the aggregate number of Restricted Shares owned by all entities and individuals included as such “person,” as defined in this sentence (and the aggregate number so allocated to such “person”
shall be allocated among the entities and individuals included in such “person” in such manner as such holder of Restricted Shares may reasonably determine). The Company shall not be obligated to effect more than three (3)) such demand
registrations pursuant to this Section 2; provided, however, that as to each such occasion such obligation shall be deemed satisfied only when a registration statement covering at least seventy-five percent (75%) of the Restricted
Shares specified in notices received as aforesaid, for sale in accordance with the method of disposition specified by the Requesting Holders, shall have become effective and, if such method of disposition is a firm commitment underwritten public
offering, all such Restricted Shares shall have been sold pursuant thereto. No inclusion of Restricted Shares held by holders other than the Requesting Holder in a registration statement pursuant to this Section 2.2 shall be counted towards the
fulfillment of the Company’s obligation to file registration statements under Section 2. 

  
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 2.3    The Company shall be entitled to include in any registration
statement referred to in this Section 2 for which the method of distribution is an underwritten public offering, for sale in accordance with the method of disposition specified by the Requesting Holders, Ordinary Shares to be sold by the
Company for its own account, except as and to the extent that, in the opinion of the managing underwriter (if such method of disposition shall be an underwritten public offering), such inclusion would adversely affect the marketing of the Restricted
Shares to be sold or exclude any Restricted Shares from such underwriting. Except as set forth in this Section 2, no securities shall be included in any registration statement referred to in this Section 2 without the prior written consent
of the Requesting Holders. Except with respect to registration statements on Form S-8, the Company will not file with the Commission any other registration statement with respect to its Ordinary Shares,
whether for its own account or that of other shareholders, from the date of receipt of the Request Notice from Requesting Holders pursuant to this Section 2 until the completion of the period of distribution of the registration contemplated
thereby. 
 SECTION 3. INCIDENTAL REGISTRATION; FORM S-3 OR
F-3 REGISTRATION 
 3.1.    If the Company at any time (other than pursuant
to Section 2 hereof) proposes to register any of its securities under the Securities Act (or similar law in a jurisdiction other than the United States) for sale to the public, whether for its own account or for the account of any security
holders other than the holders of Restricted Securities or both (except with respect to registration statements on Form S-8 or for a Rule 145 transaction), each such time it will give prompt written notice to
all holders of Restricted Shares of its intention to do so. Upon the written request of any such holder, given within twenty (20) days after the date of receipt of any such notice, to register any of its Restricted Shares (which request shall
state the intended method of disposition thereof), the Company will cause to be registered all of the Restricted Shares that each such holder requested to be registered, all to the extent requisite to permit the sale or other disposition by the
holder (in accordance with its written request) of such Restricted Shares so registered. In the event that any registration pursuant to this Section 3 shall be, in whole or in part, an underwritten public offering of Ordinary Shares, any
request by a holder pursuant to this Section 3 to register Restricted Shares shall specify that either (i) such Restricted Shares are to be included in the underwriting on the same terms and conditions as the Ordinary Shares otherwise
being sold through underwriters under such registration or (ii) such Restricted Shares are to be sold in the open market without any underwriting, on terms and conditions comparable to those normally applicable to offerings of common
stock or ordinary shares in reasonably similar circumstances. The number of Ordinary Shares, including, without limitation Restricted Shares, to be included in such an underwriting may be reduced (pro rata among the Requesting Holders of
Restricted Shares) if and to the extent that the managing underwriter shall be of the opinion that such inclusion would adversely affect the marketing of the securities to be sold by the Company therein; provided, however, that at
least seventy-five percent (75%) of the Restricted Shares requested to be included by such Requesting Holders shall be included in such underwriting; provided, further, that if any shares are to be included in such underwriting for the
account of any person other than the Company, the number of shares to be included by any such person shall be reduced first to zero, if necessary, before any Restricted Shares are reduced. With respect to the provision of the preceding sentence, if
the Company elects to reduce pro rata the amount of Restricted Shares proposed to be offered in the underwriting for the accounts of all persons other than the Company, for purposes of making any such reduction, each holder of Restricted
Shares which is a partnership, together with the affiliates, partners, employees, retired partners and retired employees of such holder, the estates and family members of any such partners, employees, retired partners and retired employees and of
their spouses, and any trusts for the benefit of any of the foregoing persons shall be deemed to be a single “person,” and any pro rata reduction with respect to such “person” shall be based upon the aggregate number of
Restricted Shares owned by all entities and individuals included as such “person”, as defined in this sentence (and the aggregate number so allocated to such “person” shall be allocated among the entities and individuals included
in such “person” in such manner as such holder of Restricted Shares may reasonably determine). No inclusion of Restricted Shares in a registration statement pursuant to this Section 3.1 shall be counted towards the fulfillment of the
Company’s obligation to file registration statements under Section 2 hereof. 

  
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 3.2.    If, at a time when Form
S-3 or F-3 (or any comparable form for registration in a jurisdiction other than the United States) is available for such registration, if the Company receives from any
holder of Restricted Shares a written request or requests that the Company effect a registration on Form S-3 or F-3 (or any comparable form for registration in a
jurisdiction other than the United States) of any of such holder’s Restricted Shares, the Company shall promptly give written notice of the proposed registration to all other holders of Restricted Securities and, as soon as practicable, effect
such registration and all such related qualifications and compliances as may be requested and as would permit or facilitate the sale and distribution of all Restricted Shares as are specified in such request and any written requests of other holders
of Restricted Shares given within twenty (20) days after receipt of such notice. The Company shall have no obligation to effect a registration under this Section 3.2 unless either (i) a majority of the outstanding Restricted Shares
are requested to be sold pursuant to such registration or (ii) the aggregate offering price of the securities requested to be sold pursuant to such registration is, in the good faith judgment of the Board, expected to be equal to or
greater than US$2,000,000. Any registration under this Section 3.2 will not be counted as a registration under Section 2 above. 

  
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 SECTION 4. REGISTRATION PROCEDURES 

If and whenever the Company is required by the provisions of Section 2 or 3 hereof to effect the registration of any Restricted Shares
under the Securities Act (or similar law if in a jurisdiction other than the United States), the Company will, as expeditiously as possible: 

4.1    Prepare and file with the Commission a registration statement (which, in the case of an underwritten public offering
pursuant to Section 2 hereof, shall be on Form S-1 or F-1 (or any comparable form for registration in a jurisdiction other than the United States) or other form of
general applicability satisfactory to the managing underwriter selected as therein provided) with respect to such securities and use its best efforts to cause such registration statement to become and remain effective (provided that before filing a
registration statement or any amendments or supplements thereto, the Company will furnish to the counsel selected by the holders of a majority of the Restricted Shares covered by such registration statement copies of all such documents and include
any reasonable comments of such counsel in such document) for the period of the distribution contemplated thereby (determined as hereinafter provided); 

4.2    Prepare and file with the Commission such amendments and supplements to such registration statement and the
prospectus used in connection therewith as may be necessary to keep such registration statement effective for the period specified in Section 4.1 above and as to comply with the provisions of the Securities Act (or similar Law if in a
jurisdiction other than the United States) with respect to the disposition of all Restricted Shares covered by such registration statement in accordance with the sellers’ intended method of disposition set forth in such registration statement
for such period; 
 4.3    Furnish to each seller and to each underwriter such number of copies of the registration
statement and the prospectus included therein (including each preliminary prospectus and any amendment or supplement thereto) and such other documents as such persons may reasonably request in order to facilitate the public sale or other disposition
of the Restricted Shares covered by such registration statement; 

  
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 4.4    Use its best efforts to register or qualify the Restricted Shares
covered by such registration statement under the securities or blue sky Laws, if applicable, of such jurisdictions as the sellers of Restricted Shares or, in the case of an underwritten public offering, the managing underwriter shall reasonably
request and do any and all other acts and things which are reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the Restricted Shares owned by such seller (provided that the Company will not
be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subsection or (ii) consent to general service of process (i.e., service of process which is not
limited solely to securities law violations) in any such jurisdiction, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act or similar Law if in a jurisdiction other than the
United States); 
 4.5    Immediately notify each seller under such registration statement and each underwriter, at any
time when a prospectus relating thereto is required to be delivered under the Securities Act (or similar Law if in a jurisdiction other than the United States), of the happening of any event as a result of which the prospectus contained in such
registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances
then existing and, at the request of any seller, the Company will promptly prepare a supplement or amendment to such registration statement so that, as thereafter delivered to the purchasers of such Restricted Shares, such registration statement
will not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading; 

4.6    Furnish, at the request of any seller, on the date that Restricted Shares are delivered to the underwriters for
sale pursuant to such registration: (i) an opinion dated such date of external counsel from the U.S. or the relevant jurisdiction of reputable standing, representing the Company for the purposes of such registration, in form and substance as is
customarily given to underwriters in an underwritten public offering and reasonably satisfactory to holders of at least seventy-five percent (75%) of the Restricted Shares requesting registration, addressed to the underwriters and to such seller,
(A) stating that such registration statement has become effective under the Securities Act (or similar Law if in a jurisdiction other than the United States), (B) stating that, to the best knowledge of such counsel, no stop order
suspending the effectiveness thereof has been issued and no proceedings for that purpose have been instituted or are pending or contemplated under the Securities Act (or similar Law if in a jurisdiction other than the United States), (C)
stating that the registration statement and the related prospectus, and each amendment or supplement thereof, comply as to form in all material respects with the requirements of the Securities Act (or similar Law if in a jurisdiction other than the
United States) and the applicable rules and regulations of the Commission thereunder (except that such counsel need not express any opinion as to financial statements contained therein), (D) containing a
10b-5 opinion in customary form and (E) to such other effects as may reasonably be requested by counsel for the underwriters or by such seller or its counsel, and (ii) a letter dated
such date from the independent public accountants retained by the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering and reasonably satisfactory to
holders of at least seventy-five percent (75%) of the Restricted Shares requesting registration, addressed to the underwriters and to such seller, (A) stating that they are independent public accountants within the meaning of the
Securities Act (or similar Law if in a jurisdiction other than the United States) and that, in the opinion of such accountants, the financial statements of the Company included in the registration statement or the prospectus, or any amendment or
supplement thereof, comply as to form in all material respects with the applicable accounting requirements of the Securities Act (or similar Law if in a jurisdiction other than the United States), and such letter shall additionally cover such other
financial matters (including information as to the period ending no more than five business days prior to the date of such letter) with respect to the registration in respect of which such letter is being given as such underwriters or such seller
may reasonably request, and (B) containing “cold comfort” language covering such matters of the type customarily covered by “cold comfort” letters as the holders of a majority in nominal value of the Restricted Shares
being sold reasonably request; 

  
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 4.7    Make available for inspection by each seller, any underwriter
participating in any distribution pursuant to such registration statement, and any attorney, accountant or other agent retained by such seller or underwriter, all financial and other records, pertinent corporate documents and properties of the
Company, and cause the Company’s officers, directors, employees, public accountants, attorneys and financial advisors to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection
with such registration statement; 
 4.8    Use its best efforts to cause all such Restricted Shares to be listed on a
recognized U.S. share exchange or traded on a U.S. inter-dealer quotation system and, if similar securities issued by the Company are already so listed, on each securities exchange or inter-dealer quotation system on which similar securities issued
by the Company are then listed or traded; 
 4.9    Provide a transfer agent and registrar and CUSIP number for all such
Restricted Shares not later than the printing of any preliminary prospectus; 
 4.10    Assist any underwriter or seller
participating in such registration or offering in its marketing efforts with prospective investors by causing the Company’s officers, directors and employees to participate in marketing efforts, including “roadshow” presentations in
various major national and international centers, in connection with any offering; 

  
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 4.11    Otherwise use its best efforts to comply with all applicable
rules and regulations of the Commission or any other applicable regulatory authority, and make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve months beginning with
the first day of the Company’s first full calendar quarter after the effective date of the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act (or similar Law if in a
jurisdiction other than the United States) and Rule 158 promulgated thereunder; 
 4.12    Permit any seller, which
seller, in its sole and exclusive judgment, might be deemed to be an underwriter or a controlling person of the Company, to participate in the preparation of such registration statement and to require the insertion therein of material furnished to
the Company in writing, which in the reasonable judgment of such holder and its counsel should be included and which material has been approved by the Company, such approval not to be unreasonably withheld or delayed; 

4.13    In the event of the issuance of any stop order suspending the effectiveness of a registration statement, or of any
order suspending or preventing the use of any related offering document or suspending the qualification of any Restricted Securities included in such registration statement or offering document for sale in any jurisdiction, the Company will use its
best efforts promptly to obtain the withdrawal of such order and the Company shall notify holders of the Restricted Shares promptly and without any delay; 

4.14    Use its best efforts to cause such Restricted Shares covered by such registration statement to be registered with
or approved by such other Governmental Authorities as would ordinarily be necessary to enable the sellers thereof to consummate the disposition of such Restricted Shares; and 

4.15    Take all such other actions as the holders of a majority in nominal value of Restricted Shares being sold or the
underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Restricted Shares (including, without limitation, effecting a share split or a combination of shares, unless the Board shall reasonably determine
that such requested action is contrary to the best interests of the Company (with affirmative vote of at least two (2) Preferred Directors). 

4.16    In connection with each registration hereunder, the selling holders of Restricted Shares will only be required to
furnish to the Company such information with respect to themselves and the proposed distribution by them as shall be necessary in order to assure compliance with United States and applicable state securities laws. 

  
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 4.17    In connection with each registration pursuant to Sections 2 and
3 hereof covering an underwritten public offering, the Company agrees to enter into such customary agreements (including underwriting agreements) as the managing underwriter selected in the manner herein provided may request in such form and
containing such provisions as are customary in the securities business for such an arrangement between major underwriters and companies of the Company’s size and investment stature, provided that such agreement shall not contain any such
provision applicable to the Company which is inconsistent with the provisions hereof. 
 4.18    The holders of the
Restricted Securities agrees that, upon request by the Company or the underwriters managing the initial public offering of the Company’s securities, it will not sell or otherwise transfer or dispose of any securities of the Company (other than
those permitted to be included in the registration and other transfers to Affiliates permitted by law) without the prior written consent of the Company or such underwriters, as the case may be, for a period of time specified by the representative of
the underwriters not to exceed one hundred and eighty (180) days from the effective date of the registration statement covering such initial public offering or the pricing date of such offering as may be requested by the underwriters. The
foregoing provision of this Section 4.18 shall not apply to the sale of any securities of the Company to an underwriter pursuant to any underwriting agreement, and shall only be applicable to the holders of the Restricted Securities if all
officers, directors and holders of one percent (1%) or more of the Company’s outstanding share capital (including the Founders) enter into similar agreements, and if the Company or any underwriter releases any officer, director or holder of one
percent (1%) or more of the Company’s outstanding share capital (including the Founders) from his or her sale restrictions so undertaken, then each holder of the Restricted Securities shall be notified prior to such release and shall itself be
simultaneously released to the same proportional extent. The Company shall require all future acquirers of the Company’s securities holding at least one percent (1%) of the then outstanding share capital of the Company to execute prior to a
Qualified IPO a market stand-off agreement containing substantially similar provisions as those contained in this Section 4.18. The Company and the Founders shall take all steps consistent with
requirements of law and use their best efforts to minimize the foregoing market stand-off period for the holders of the Restricted Securities. 

4.19    Any holder of Restricted Shares, and their permitted transferees, receiving any written notice from the Company
regarding the Company’s plans to file a registration statement shall treat such notice confidentially and shall not disclose such information to any person other than as necessary to exercise its rights under this Agreement; provided,
however, that such holder may disclose such notice in its reasonable discretion for the purpose of seeking additional insurance coverage for such holder’s directors and officers and for purposes of fund reporting or inter- fund reporting
or to its fund manager, other funds managed by its fund manager or their respective affiliates, advisers, consultants, auditors, directors, officers, employees, shareholders, investors or insurers. 

  
 13 

 SECTION 5. EXPENSES 

All expenses incurred by the Company in complying with Sections 2 and Section 3 hereof, including, without limitation, all registration
and filing fees, fees and expenses of compliance with securities and blue sky laws, fees and expenses in connection with any listing of the Ordinary Shares on a securities exchange or inter-dealer quotation system, printing expenses, fees and
disbursements of counsel and independent public accountants for the Company and the fees and disbursements of the underwriters, fees of the National Association of Securities Dealers, Inc. (or similar organization), transfer taxes, fees of transfer
agents and registrars and costs of insurance and fees and expenses of one counsel for the sellers of Restricted Shares, but excluding any Selling Expenses (as defined below), are herein called “Registration Expenses”. All
underwriting discounts and selling commissions applicable to the sale of Restricted Shares are herein called “Selling Expenses.” The Company will pay all Registration Expenses in connection with each registration statement filed
pursuant to Section 2 or 3 hereof. All Selling Expenses incurred in connection with any sale of Restricted Shares by any participating seller shall be borne by such participating seller, or by such persons other than the Company (except to the
extent the Company shall be a seller) as they may agree. 
 SECTION 6. INDEMNIFICATION 

6.1    In the event of a registration of any of the Restricted Shares under the Securities Act (or similar Law if in a
jurisdiction other than the United States) pursuant to Section 2 or 3 hereof, the Company will indemnify and hold harmless each seller of such Restricted Shares thereunder and each underwriter of such Restricted Shares thereunder and their
respective partners, officers, directors, stockholders and employees and each other person, if any, who controls such seller or underwriter within the meaning of the Securities Act (or similar Law if in a jurisdiction other than the United States),
against any and all losses, claims, damages, expenses or liabilities, joint or several, to which such person may become subject under the Securities Act (or similar Law if in a jurisdiction other than the United States) or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Restricted Shares
were registered under the Securities Act (or similar Law if in a jurisdiction other than the United States) pursuant to Section 2 or 3, any preliminary prospectus or final prospectus contained therein, any amendment or supplement thereof, any
materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of the offering of the Restricted Shares, including any roadshow or investor presentations made to investors by the Company
(whether in person or electronically), or any application, filing or other material filed, registered, distributed or otherwise furnished by the Company or with the consent of the Company in connection with the securities laws of any state or
political subdivision thereof, including any blue sky application, or arising out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not
misleading, or arising out of or are based upon any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any United States federal or state securities law, or any rule or regulation promulgated under the Securities
Act, the Exchange Act, or any United States federal or state securities law in connection with the offering covered by such registration statement (or similar Law if in a jurisdiction other than the United States), and will reimburse each such
person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability, expense or action; provided, however, that the Company will not be liable in any
such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by such
person in writing specifically for use in such registration statement or prospectus. 

  
 14 

 6.2    In the event of a registration of any of the Restricted Shares
under the Securities Act (or similar Law if in a jurisdiction other than the United States) pursuant to Section 2 or 3 hereof, each seller of such Restricted Shares thereunder, severally and not jointly, will indemnify and hold harmless the
Company and each person, if any, who controls the Company within the meaning of the Securities Act (or similar Law if in a jurisdiction other than the United States), each officer of the Company who signs the registration statement, each director of
the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages, expenses or liabilities, to which the Company or such officer or director or underwriter or
controlling person may become subject under the Securities Act (or similar Law if in a jurisdiction other than the United States) or otherwise, insofar as such losses, claims, damages, expenses or liabilities (or actions in respect thereof) arise
out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Restricted Shares were registered under the Securities Act (or similar Law if in a jurisdiction
other than the United States) pursuant to Section 2 or 3, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arising out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer, director, underwriter and controlling person for any legal or other expenses
reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that such seller will be liable hereunder in any such case if and only to the extent that
any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such seller, as such,
furnished in writing to the Company by such seller specifically for use in such registration statement or prospectus; provided, further, however, that the liability of each seller hereunder shall be limited to the proportion of
any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the shares sold by such seller under such registration statement bears to the total public offering price of all securities sold
thereunder, but not to exceed the proceeds received by such seller from the sale of Restricted Shares covered by such registration statement. 

  
 15 

 6.3    Promptly after receipt by an indemnified party hereunder of
notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission to notify the
indemnifying party shall not relieve it from any liability which it may have to any indemnified party under this Section 6. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the
commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the
indemnifying party to such indemnified party of its election to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 6 for any legal expenses subsequently incurred by
such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected; provided, however, that, if the indemnified party shall have reasonably concluded that
there may be reasonable defenses available to it which are different from or additional to those available to the other party or parties thereto or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of
the other party or parties thereto, the indemnified party shall have the right to select a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the expenses and fees of such separate
counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. 

6.4    Notwithstanding the foregoing, any indemnified party shall have the right to retain its own counsel in any such
action, but the fees and disbursements of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party shall have failed to retain counsel for the indemnified party as aforesaid, (ii) the
indemnified party shall have reasonably concluded that the interests of the indemnified party conflict with the interests of the other party or parties thereto, or (iii) the indemnifying party and such indemnified party shall have
mutually agreed to the retention of such counsel. It is understood that the indemnifying party shall not, in connection with any action or related actions in the same jurisdiction, be liable for the fees and disbursements of more than one separate
firm qualified in such jurisdiction to act as counsel for the indemnified party. The indemnifying party shall not (i) without the prior written consent of the indemnified parties (which consent shall not be unreasonably withheld), settle or
compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are
actual or potential parties to such claim or action) unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding, or
(ii) be liable for any settlement of any proceeding effected without its written consent (which consent shall not be unreasonably withheld), but if settled with such consent or if there be a final judgment for the plaintiff, the
indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. If the indemnification provided for in the first two paragraphs of this Section 6 is unavailable to or
insufficient to hold harmless an indemnified party under such paragraphs in respect of any losses, claims, damages or liabilities or actions referred to therein, then each indemnifying party shall, in lieu of indemnifying such indemnified party,
contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities or actions in such proportion as appropriate to reflect the relative fault of the Company, on the one hand, and the sellers
of such Restricted Shares, on the other, in connection with the statement or omissions which resulted in such losses, claims, damages, liabilities or actions, as well as any other relevant equitable considerations including, without limitation, the
failure to give any notice under the second paragraph of this Section 6. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged
omission to state a material fact relates to information supplied by the Company, on the one hand, or by the sellers of such Restricted Shares, on the other hand, and to the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. 

  
 16 

 6.5    The Company and the sellers of Restricted Shares agree that it
would not be just and equitable if contribution pursuant to this Section 6 were determined by pro rata allocation (even if all of the sellers of Restricted Shares were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. The amount paid or payable by an indemnified party as a result of the losses, claims, damages, liabilities or action referred
to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action
or claim. Notwithstanding the provisions of this and the immediately preceding paragraph, the sellers of such Restricted Shares shall not be required to contribute any amount in excess of the amount, if any, by which the net proceeds received by
each of them exceeds the amount of any damages which they would have otherwise been required to pay by reason of such untrue or alleged untrue statement or omission. No person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any person who is not guilty of such fraudulent misrepresentation. The indemnification of underwriters provided for in this Section 6 shall be on such other terms
and conditions as are at the time customary and reasonably required by such underwriters and the indemnification of the sellers of Restricted Shares in such underwriting shall, at the sellers’ request, be modified to conform to such terms and
conditions. Upon the reasonable request of any shareholder selling Restricted Shares pursuant to a registration statement or any underwriter of such share, the Company shall obtain, if reasonably available, an insurance policy covering the risks
described above in this Section 6 in an amount and with a deductible reasonably requested by such seller or underwriter and naming such seller, any underwriter of such share and any person controlling such seller or underwriter as
beneficiaries. The costs of obtaining and maintaining any such insurance shall be borne by the Company. 

  
 17 

 6.6    Notwithstanding the foregoing, to the extent that the provisions
on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control.

 6.7    The indemnification provided for under this Agreement will remain in full force and effect regardless of any
investigation made by or on behalf of the indemnified party or any officer, director or controlling person of such indemnified party and will survive the transfer of securities. 

SECTION 7. CHANGES IN ORDINARY SHARES/PREFERRED SHARES 

If, and as often as, there are any changes in the Ordinary Shares and/or the Preferred Shares by way of share split, share dividend,
combination or reclassification, or through merger, consolidation, reorganization or recapitalization, or by any other means, appropriate adjustment shall be made in the provisions hereof, as may be required, so that the rights and privileges
granted by this Agreement shall continue with respect to the Ordinary Shares and/or the Preferred Shares as so changed. 

  
 18 

 SECTION 8. LIMITATION ON SUBSEQUENT REGISTRATION RIGHTS 

Except as provided in this Agreement, the Company will not grant to any person (i) the right to request the Company to register any
Ordinary Shares, or any securities convertible or exchangeable into or exercisable for Ordinary Shares, which are superior to or pari passu with the rights granted to the Preferred Shareholders, (ii) the right to include any
Ordinary Shares, or any securities convertible or exchangeable into or exercisable for Ordinary Shares, in any registration filed under Section 2 or Section 3, unless under the terms of such agreement such holder or prospective holder may
include such Ordinary Shares in any registration only to the extent that the inclusions of such Ordinary Shares will not reduce the amount of the Restricted Securities of the Preferred Shareholders that are included; or (iii) the right
cause the Company to include such Ordinary Shares, or any securities convertible or exchangeable into or exercisable for Ordinary Shares, in any registration filed under Section 2 or Section 3 on a basis more favorable to such holder or
prospective holder than is provided to the Preferred Shareholders thereunder, in each case without the prior written consent of holders of at least seventy-five percent (75%) of the total issued and outstanding Preferred Shares. The Company will not
enter into any agreement inconsistent with the terms of this Agreement. 
 SECTION 9. NON-U.S.
REGISTRATION RIGHTS 
 9.1    The Company agrees, and the Founders shall cause the Company, to use its best efforts
to, upon the approval of the Shareholders and/or Board in accordance with the Shareholders Agreement and the Articles of Association, register and qualify the Restricted Shares and to take such other actions in the People’s Republic of China
(the “PRC”), the Hong Kong Special Administrative Region of the PRC or any other jurisdictions in which a market develops for the Company’s securities as are necessary to permit (i) the unrestricted sale of the Restricted
Shares in such jurisdictions; and (ii) the sale of such securities in an underwritten offering exempt from the registration provisions of the applicable Law in such jurisdiction, in each case on a basis comparable to the provisions
contained herein addressing the registration of such securities for sale within the United States, including, without limitation, the inclusion of the Restricted Shares in a listing (or listings) of the Company’s securities on a stock exchange
in such jurisdictions or a quotation of the Company’s securities on an inter-dealer quotation system in such jurisdictions. 

9.2    If Shares of the Company are offered in an underwritten public offering (upon the approval of the Shareholders
and/or Board in accordance with the Shareholders Agreement and the Articles of Association, no matter whether a Qualified IPO or not) outside the United States for the account of any Ordinary Shareholder, in addition to the other rights provided in
this Agreement, each Preferred Shareholder shall have the right to include a pro rata number of Shares (based on the number of Shares then held by the selling Preferred Shareholder and all other Shareholders selling in the offering) in the offering
on terms and conditions no less favorable to the Preferred Shareholder than to any other selling Shareholders. 

  
 19 

 9.3    The Company shall bear all costs and expenses (excluding
underwriting discounts and commissions but including fees of counsel to the selling Preferred Shareholders and all other expenses related to the offering or registration) relating to Shares included in any public offering or registration statement
pursuant to the foregoing rights in accordance with Section 5 hereof. 
 SECTION 10. REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 The Company represents and warrants to each of the other parties hereto as follows (which representations and warranties shall
survive the execution and delivery of this Agreement): 
 10.1    The execution, delivery and performance of this
Agreement by the Company have been duly authorized by all requisite corporate action and will not violate any provision of Law, any order of any court or other Governmental Authorities, the Articles of Association of the Company, or any provision of
any indenture, agreement or other instrument to which it or any of its properties or assets is bound, or conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any such indenture, agreement or
other instrument, or result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the properties or assets of the Company or any of its Subsidiaries. 

10.2    This Agreement has been duly executed and delivered by the Company and constitutes the legal, valid and binding
obligation of the Company, enforceable in accordance with its terms. 
 SECTION 11. RULE 144 REPORTING 

The Company agrees with each of the other parties hereto as follows: 

11.1    The Company shall make and keep current public information available as those terms are understood and defined in
Rule 144 under the Securities Act, at all times after it has become subject to the reporting requirements of the Exchange Act. 

11.2    The Company shall file with the Commission in a timely manner all reports and other documents as the Commission
may prescribe under the Securities Act and the Exchange Act, and the rules and regulations promulgated thereunder at any time after the Company has become subject to such reporting requirements of the Securities Act and the Exchange Act. 

  
 20 

 11.3    The Company shall furnish to each holder of Restricted
Securities forthwith upon request (i) a written statement by the Company as to its compliance with the reporting requirements of Rule 144 (at any time from and after ninety (90) days following the effective date of the first registration
statement of the Company for an offering of its securities to the general public), and of the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), (ii) a copy of the most recent annual or
quarterly report of the Company, and (iii) such other reports and documents so filed as such holder may reasonably request to avail itself of any rule or regulation of the Commission allowing a holder of Restricted Securities to sell any
such securities without registration. 
 SECTION 12. ASSIGNMENT OF REGISTRATION RIGHTS 

The rights to cause the Company to register Restricted Securities pursuant to this Agreement may be assigned (but only with all related
obligations) by a holder of Restricted Securities to a transferee or assignee of such securities that (i) is a Subsidiary, parent, partner, limited partner, retired partner, stockholder or an Affiliate of such holder, (ii) is such
holder’s family member or trust for the benefit of an individual holder, or (iii) after such assignment or transfer, holds at least 15,000,000 shares of Restricted Securities (subject to appropriate adjustment for stock splits, stock
dividends, combinations or the like), provided: (a) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such
registration rights are being assigned; (b) such transferee or assignee agrees in writing to be bound by and subject to the terms and conditions of this Agreement, including, without limitation, the provisions of Section 13 below, by
executing a form of Joinder substantially in form attached hereto as Exhibit A; and (c) such assignment shall be effective only if immediately following such transfer the further disposition of such securities by the transferee or
assignee is restricted under the Securities Act. 
 SECTION 13. MISCELLANEOUS 

13.1    The rights of any holder of Restricted Shares under Sections 2, 3 and 8 shall terminate and cease to apply to such
holder upon the occurrence of the earlier of: (A) when (i) such holder is no longer an “Affiliate” as used in Rule 144 and (ii) such holder is permitted to sell all Restricted Shares then held by it pursuant to Rule 144(k), or
(B) on the fifth (5th) anniversary of the Qualified IPO. 
 13.2    All covenants and agreements contained in this
Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors and assigns of the parties hereto whether so expressed or not. 

  
 21 

 13.3    All notices, demands and other communications provided for or
permitted hereunder shall be made in writing and shall be by telefax, commercial express courier service or personal delivery: 
  

	 	(a)	 if to the Company: 

c/o Oriental Standard Technology (Beijing) Co., Ltd. 

5/F No. 6 Haidian Zhong Street 

Haidian District, Beijing 100080 China 

Fax No.: [             ] 

Attention: Wu Lei 
 with a copy
to: 
 Han Kun Law Offices 

Suite 906, Office Tower C1 

Oriental Plaza 
 1 East Chang An
Avenue 
 Beijing, China 
 Fax
No.: + 86 10 8525 5511 
 Attention: Chen Dafei 
  

	 	(b)	 if to Preferred Shareholders, at the Preferred Shareholders’ addresses set forth on Schedule A
hereto. 

 or to such other address or addresses as shall have been furnished in writing to the other parties hereto. Each Shareholder
agrees, at all times, to provide the Company with an address for notices hereunder. All such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally delivered; when delivered by courier, if delivered
by commercial express courier service; or if faxed or e-mailed, when transmission is confirmed on sender’s fax machine. 

13.4    GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, CONSTRUED IN ACCORDANCE WITH, AND ENFORCED UNDER, THE
LAW OF HONG KONG. 
 13.5    The parties agree that all disputes between any of them arising out of, connected with,
related to, or incidental to the relationship established between them in connection with this Agreement, and whether arising in law or in equity or otherwise, shall be resolved in accordance with the procedures set forth in Section 12.2 of the
Shareholders Agreement. 
 13.6    This Agreement constitutes the entire agreement of the parties with respect to the
subject matter hereof and will supersede all prior agreements and understandings between the parties with respect to such subject matter. This Agreement may not be modified or amended except in writing by the Company and the Preferred Majority
Holders. Notwithstanding the foregoing, no modification or amendment shall be effective or enforceable with respect of Oriza if such modification or amendment adversely and materially affects Oriza or in a manner different from other holders of the
same class or series of shares as Oriza holds. 

  
 22 

 13.7    Facsimile transmissions of any executed original document and/or
retransmission of any executed facsimile transmission shall be deemed to be the same as the delivery of an executed original. At the request of any party hereto, the other parties hereto shall confirm facsimile transmissions by executing duplicate
original documents and delivering the same to the requesting party or parties. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement. 
 13.8    The Company and the
Founders (on the one hand) and the Preferred Shareholders (on the other hand) agree that any amendment to the United States securities laws (or similar applicable Law) (and regulations promulgated thereunder (and related registration forms), and
related state securities laws shall not affect the substantive registration requirements (and other obligations of the Company) set forth in this Agreement; and, following any such amendment, the Company shall continue to be required to cause the
registration of Restricted Shares (and pay all Registration Expenses and provide indemnification) under the United States securities laws, as amended (or similar applicable Law), in a manner consistent to carry out the intent and purposes of (and on
terms as similar as practicable as the terms set forth in) this Agreement. 
 13.9    If any one or more of the
provisions contained in this Agreement, or the application thereof in any circumstance, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect
and of the remaining provisions hereof shall not be in any way impaired, unless the provisions held invalid, illegal or unenforceable shall substantially impair the benefits of the remaining provisions of this Agreement. The parties hereto further
agree to replace such invalid, illegal or unenforceable provision of this Agreement with a valid, legal and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid, illegal or
unenforceable provision. 
 [SIGNATURE PAGE FOLLOWS] 

  
 23 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their respective officers hereunto duly authorized as of the date first above written. 
  

			
	THE COMPANY:
	
	Oriental Standard Human Resources Holdings Limited
		
	By:	 	 /s/ Wu Lei

	Name:	 	Wu Lei
	Title:	 	Authorized Signatory

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their respective officers hereunto duly authorized as of the date first above written. 
  

			
	THE FOUNDERS:
	
	Pan Lianya
		
	By:	 	 /s/ Pan Lianya

	Name:	 	Pan Lianya
	
	Wu Lei
		
	By:	 	 /s/ Wu Lei

	Name:	 	Wu Lei

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their respective officers hereunto duly authorized as of the date first above written. 
  

			
	THE FOUNDER HOLDING COMPANY:
	
	FireDragon Holdings Inc.
		
	By:	 	 /s/ Pan Lianya

	Name:	 	Pan Lianya
	Title:	 	Authorized Signatory
	
	Ji Xiang Hu Tong Holdings Limited
		
	By:	 	 /s/ Wu Lei

	Name:	 	Wu Lei
	Title:	 	Authorized Signatory
	
	Talent Boom Group Limited
		
	By:	 	 /s/ Wu Lei

	Name:	 	Wu Lei
	Title:	 	Authorized Signatory

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their respective officers hereunto duly authorized as of the date first above written. 
  

			
	DCM:
	
	DCM IV, L.P.
		
	By:	 	 /s/ Matthew C. Bonner

	Name:	 	Matthew C. Bonner
	Title:	 	Authorized Signatory
	
	DCM Affiliates Fund IV, L.P.
		
	By:	 	 /s/ Matthew C. Bonner

	Name:	 	Matthew C. Bonner
	Title:	 	Authorized Signatory

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed and delivered by their respective officers hereunto duly authorized as of the date first above written. 
  

			
	RED STAR:
	
	Hong Kong Red Star Macalline Universal Home Furnishings Limited
(香港红星美凯龙全球家居有限公司)
		
	By:	 	 /s/ Che Jianxing

	Name:	 	CHE, Jianxing (车建兴)
	Title:	 	Director

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their respective officers hereunto duly authorized as of the date first above written. 
  

			
	JD:
	
	Honeysuckle Creek Limited
		
	By:	 	 /s/ Wang Nani

	Name:	 	Wang Nani
	Title:	 	Authorized Signatory

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their respective officers hereunto duly authorized as of the date first above written. 
  

			
	Oriza:
	
	HUA YUAN INTERNATIONAL
	
	Company seal is affixed
		
	By:	 	 /s/ Liu Chengwei

	Name:	 	Liu Chengwei (刘澄伟)
	Title:	 	Authorized Signatory

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their respective officers hereunto duly authorized as of the date first above written. 
  

			
	Buhuovc:
	
	Buhuovc Limited Partnership
		
	By:	 	 /s/ Li Zhujie

	Name:	 	Li Zhujie (李祝捷)
	Title:	 	Authorized Signatory

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their respective officers hereunto duly authorized as of the date first above written. 
  

			
	Tuyu:
	
	RS Tuyu Enterprise Management Consulting Limited
		
	By:	 	 /s/ Chen Long

	Name:	 	陈珑 (English translation: Chen Long)
	Title:	 	Authorized Signatory

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 SCHEDULE A 

SCHEDULE OF HOLDERS OF PREFERRED SHARES 

SCHEDULE A OF REGISTRATION RIGHTS AGREEMENT 

 Exhibit A 

FORM OF JOINDER 
 EXHIBIT A
OF REGISTRATION RIGHTS AGREEMENTEX-4.4

 Exhibit 4.4 

EXECUTION VERSION 
 Founder
Undertaking Agreement 
 GigaCloud Technology Inc 
 Unit A,
12/F, Shun Ho Tower 
 24-30 Ice House Street 

Central 
 Hong Kong 

Date: July 6, 2022  
 Ladies and Gentlemen: 

I, Larry Lei Wu, Founder and Chief Executive Officer (the “Founder”) of GigaCloud Technology Inc, an exempted company
incorporated in the Cayman Islands (the “Company”), together with Ji Xiang Hu Tong Holdings Limited and Talent Boom Group Limited (collectively with the Founder, the “Founder Holders”), in connection with the
initial public offering (the “Public Offering”) of Class A Ordinary Shares, par value $0.05 per share, of the Company (the “Class A Ordinary Shares”), in consideration for the Company
undertaking the Public Offering and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, hereby undertake that: 
  

	 	1.	 During the period commencing on the date hereof and ending five (5) years after the closing date of the
Public Offering, without the prior written consent of the board of directors of the Company (the “Board”) and at least a majority of the Independent Directors (as defined below) then in office, the Founder Holders will not agree to,
approve, support, vote (in favor of or against), or otherwise cause the Company to agree to, enter into or consummate, a Privatization Transaction, unless the consideration per Class A Ordinary Share payable to shareholders of the Class A
Ordinary Shares in connection with such Privatization Transaction is at least equal to the price per Class A Ordinary Share initially offered to the public in the Public Offering (subject to appropriate adjustment in the event of any stock
dividend, stock split, combination or other similar recapitalization with respect to the Class A Ordinary Shares); provided, for greater clarity, if the Founder is serving on the Board, the Founder may vote in favor of, against, or
abstain from voting on, a Privatization Transaction in the capacity of a director, and if such Privatization Transaction is approved by the Board and at least a majority of the Independent Directors, the Founder Holders as shareholders may vote in
favor of, against, or abstain from voting on, the Privatization Transaction. 

  

	 	2.	 During the period commencing on the date hereof and ending five (5) years after the closing date of the
Public Offering, upon the first to occur of: 

  

	 	a.	 the Founder being permanently unable to engage in the business affairs of the Company as a result of incapacity
solely due to his then physical and /or mental condition (which, for the avoidance of doubt, does not include any confinement against his will); or 

	 	b.	 the Founder’s primary business occupation no longer being either a director or an employee of the Company,
the Founder Holders shall cause, at such time, all Class B Ordinary Shares (as defined in the post-Public Offering Amended and Restated Memorandum of Association of the Company) to be converted into an equal number of Class A Ordinary
Shares in accordance with the post-Public Offering Amended and Restated Memorandum of Association of the Company. 

  

	 	3.	 The Founder Holders hereby represent and warrant that they will be the only holders of the Class B
Ordinary Shares of the Company immediately following the closing of the Public Offering. During the period commencing on the date hereof and ending five (5) years after the closing date of the Public Offering, each Founder Holder agrees, prior
to effectuating an indirect or direct Transfer (as defined below) of any Class B Ordinary Shares, to cause any such proposed transferee of the Class B Ordinary Shares to execute and deliver to the Company a counterpart signature to this
letter agreement confirming that such transferee shall be bound by all of the terms and conditions of this letter agreement as a Founder Holder; provided, however, if the applicable Founder Holder is required to convert or otherwise causes the
conversion of the Class B Ordinary Shares to Class A Ordinary Shares proposed to be Transferred, such Founder Holder and Affiliate will not be required to comply with this Section 3. In addition, notwithstanding the foregoing, each
Founder Holder may enter into a bona fide transaction with any third-party pledgee that is not an Affiliate of such Founder Holder with the Class B Ordinary Shares as collateral (whether through any pledge, charge, encumbrance or other lien) to
secure obligations pursuant to lending or other arrangements between such third party and the Founder Holder without complying with this Section 3 until the rights to such collateral are enforced to the extent the Class B Ordinary Shares
are not converted to Class A Ordinary Shares. 

 Capitalized terms used herein and not otherwise defined shall have
the meanings set forth in the post-Public Offering Amended and Restated Memorandum of Association of the Company. The following terms as used herein shall have the following meanings: 

 

	 	•	 	 “beneficial owner” and “beneficial ownership” shall the meaning provided in
Rule 13d-3 under the Exchange Act. 

  

	 	•	 	 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

 

	 	•	 	 “Independent Director” means a director on the Board who is both: (i) designated as an
“independent director” in accordance with the requirements of the Nasdaq Stock Market or the primary stock exchange under which the Company’s equity securities are then listed for trading and (ii) disinterested with respect to
the transaction or matter being approved or considered. 

	 	•	 	 “Privatization Transaction” means any of the following: (a) a “person” or
“group” within the meaning of Section 13(d) of the Exchange Act, other than the Founder Holders or the Company and its wholly-owned subsidiaries, becomes the direct or indirect beneficial owner, of more than 50% of the voting power of
the capital stock of the Company; (b) the consummation of (i) any recapitalization, reclassification or change of the Class A Ordinary Shares (other than changes resulting from a subdivision or combination) as a result of which the
Class A Ordinary Shares would be converted into, or exchanged for, stock, other securities, other property or assets; (ii) any share exchange, consolidation or merger of the Company pursuant to which the Class A Ordinary Shares will
be converted into cash, securities or other property or assets; or (iii) any sale, lease or other transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets of the Company and its
subsidiaries, taken as a whole, to any person or entity other than one of the Company’s wholly-owned subsidiaries; (c) the stockholders of the Company approve any plan or proposal for the liquidation or dissolution of the Company (or a
successor company); or (d) the Class A Ordinary Shares cease to be listed or quoted on any of The New York Stock Exchange, The Nasdaq Global Select Market, The Nasdaq Global Market or The Nasdaq Capital Market (or any of their respective
successors, collectively, a “Permitted Exchange”); provided, however, that a transaction or transactions described in clause (a) or (b) above shall not constitute a Privatization Transaction if at least 90% of the
consideration received or to be received by the holders of Class A Ordinary Shares, excluding cash payments for fractional shares and cash payments made in respect of dissenters’ statutory appraisal rights, in connection with such
transaction or transactions consists of ordinary or common shares or other common equity that are listed or quoted on a Permitted Exchange or will be so listed or quoted when issued or exchanged in connection with such transaction or transactions.

 “Transfer” shall mean any (i) sale, transfer, assignment or other disposition or (ii) change
of control of the ultimate beneficial ownership, in each case of one or more Class B Ordinary Shares. 
 This letter agreement and any
claim, controversy or dispute arising under or related to this letter agreement shall be governed by, and construed in accordance with the laws of, the State of New York. 

The undersigned understands that this letter agreement is irrevocable and shall be binding upon the undersigned’s heirs, legal
representative, successors and assigns. The undersigned understands that this letter agreement shall become effective conditional on, and immediately prior to, the completion of the Public Offering. 

The parties hereto agree that irreparable damage would occur if any provision of this letter agreement were not performed in accordance with
the terms hereof and that the parties shall be entitled to an injunction or injunctions to prevent breaches of this letter agreement or to enforce specifically the performance of the terms and provisions hereof upon breach or threatened breach
thereof in any court of competent jurisdiction, in addition to any other remedy to which they are entitled at law or in equity. 
 This
letter agreement may be signed in counterparts (which may include counterparts delivered by any standard form of telecommunication), each of which shall be an original and all of which together shall constitute one and the same instrument. 

No amendment or waiver of any provision of this letter agreement, nor any consent or approval to any departure therefrom, shall in any event
be effective unless the same shall be in writing and signed by the parties hereto. 
 [Signature Page Follows] 

 
			
	Very truly yours,
	
	 /s/ Larry Lei Wu

	 Larry Lei Wu
 Founder and Chief
Executive Officer
 GigaCloud Technology Inc

	
	Ji Xiang Hu Tong Holdings Limited
		
	By:	 	 /s/ Larry Lei Wu

	Name: Lei Wu
	Title: Director
	
	Talent Boom Group Limited
		
	By:	 	 /s/ Larry Lei Wu

	Name: Lei Wu
	Title: Director

 Acknowledged and agreed: 

GigaCloud Technology Inc 
  

			
	By:	 	 /s/ Kwok Hei David Lau

	Name: Kwok Hei David Lau
	Title: CFO

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