Document:

EX-10.6

 Exhibit 10.6 

EQUITY PLEDGE AGREEMENT 
 This Equity
Pledge Agreement (this “Agreement”) is entered into by and among the following parties on                    : 

 

	(1)	
                       
                                         
            (“Pledgee”), a wholly foreign owned enterprise registered in the People’s Republic of China (“PRC”) with its domicile
at                    ; 

  

	(2)	 Chen QIAN (ID Card
No.:                    ), a PRC citizen with a domicile
at                    ; 

  

	(3)	 Fei XU (ID Card
No.:                    ), a PRC citizen with a domicile
at                    (together with Chen Qian, the “Pledgors”); and 

 

	(4)	
                       
                                         
            (“Domestic Company”), a limited liability company registered
in                    , the PRC with its domicile
at                    . 

 The
Pledgee, the Pledgors and the Domestic Company are hereinafter collectively referred to as the “Parties” and individually, as a “Party”. 

Whereas: 
  

	(A)	 The Pledgors are all the registered shareholders of the Domestic Company, and in aggregate hold 100% of the
equity interests in the Domestic Company. The basic information of the Domestic Company as of the date of execution of this Agreement is set forth in Appendix I. 

 

	(B)	 Pursuant to the Purchase Option Agreement entered into by and among the Pledgee, the Pledgors and the Domestic
Company on                (“Purchase Option Agreement”), the Pledgors agreed, subject to the PRC Law, to transfer the equity interests of the Domestic
Company to the Pledgee and/or any individual or entity as designated by the Pledgee at the request of the Pledgee. 

  

	(C)	 Pursuant to the Power of Attorney entered into by and among the Pledgee, the Pledgors and the Domestic Company
on                (“Power of Attorney”), the Pledgors irrevocably appointed the Pledgee as proxy and authorized the Pledgee with full power to exercise
on their behalf all of their shareholders’ voting rights in respect of the Domestic Company. 

  

	(D)	 Pursuant to the Exclusive Business Cooperation Agreement entered into by and between the Pledgee and the
Domestic Company on                (“Exclusive Business Cooperation Agreement”), the Pledgee and the other party agreed on specific arrangements
regarding the business cooperation. 

  

	(E)	 The Pledgors agree to pledge all of their equity interests in the Domestic Company to the Pledgee and grant the
Pledgee the right to repayment in first priority as a guarantee for the Pledgors and the Domestic Company to perform their Contractual Obligations (as defined below) and discharge and repay the Secured Debts (as defined below).

 Therefore, the Parties enter into this Agreement as follows upon friendly negotiation: 

 

	1	 Definitions 

  

	1.1	 Unless the context otherwise requires, the following terms in this Agreement shall have the following meanings:

 “Breaching Event” shall mean any breach by any of the Pledgors or the Domestic Company of any of
his/her/its Contractual Obligations (as defined below). 

  
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 “Contractual Obligations” shall mean (A) all contractual obligations
of the Pledgors under the Purchase Option Agreement, the Power of Attorney and this Agreement; and (B) all contractual obligations of the Domestic Company under the Business Cooperation Agreement, the Power of Attorney, the Exclusive Business
Cooperation Agreement and this Agreement. 
 “Pledged Equity” shall mean all of the equity interests in the Domestic Company
which are owned by the Pledgors during the term of this Agreement and are pledged to the Pledgee pursuant to the provisions hereof as the security for the Pledgors and the Domestic Company to perform their Contractual Obligations. 

“PRC Law” shall mean effective laws, administrative regulations, administrative rules, local regulations, judicial
interpretations and other regulatory documents of the PRC. 
 “Secured Debts” shall mean all direct, indirect and
consequential losses and losses of foreseeable profits suffered by the Pledgee due to any Breaching Event of any of the Pledgors or the Domestic Company, and all fees incurred by the Pledgee for the enforcement of the Contractual Obligations of the
Pledgors or the Domestic Company. 
 “Transaction Agreements” shall mean the Purchase Option Agreement, the Power of
Attorney and the Business Cooperation Agreement. 
  

	1.2	 The references to any PRC Law herein shall be deemed: 

 

	 	(1)	 to include the amendments, changes, supplements and reenactments of such law, irrespective of whether they take
effect before or after the formation of this Agreement; and 

  

	 	(2)	 to include other decisions, notices or provisions that are made in accordance with or take effect as a result
of the laws. 

  

	1.3	 Unless otherwise stated in the context herein, all references to an article, clause, item or paragraph shall
refer to the relevant article, clause, item or paragraph of this Agreement. 

  

	1.4	 “Working Day” referred to in this Agreement means any day, except for a Saturday, Sunday or
PRC statutory holiday. 

  

	2	 Equity Pledge 

 

	2.1	 The Pledgors hereby pledge all of their rights, ownership and interests upon the Pledged Equity (whatever
currently owned or acquired in the future) to the Pledgee as security for the timely and full repayment or fulfillment by the Pledgors and the Domestic Company of the Contractual Obligations (“Equity Pledge”). 

 

	2.2	 The Pledgors have been or will be registered at the local branch of the State Administration for Market
Regulation (“SAMR”) as the shareholders of the Domestic Company holding their respective proportions of equity interests in the Domestic Company as set forth in Recital (A) above, and such equity interests are free and clear of
any security interests except for the Equity Pledge as provided in this Agreement. 

  

	2.3	 The Pledgors hereby undertake that they will be responsible for recording the Equity Pledge under this
Agreement on the register of shareholders of the Domestic Company on the date hereof. The Pledgors undertake to complete the registration of the Equity Pledge with the SAMR within ten (10) Working Days from the date hereof (or a longer term
agreed by the Pledgee), and the Domestic Company and the Pledgee shall fully cooperate with the Pledgors to complete such registration. 

  
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	2.4	 During the term of this Agreement, the Pledgee shall not be liable in any way for impairment in value of the
Pledged Equity, nor shall the Pledgors have any right to make any claims against the Pledgee for such impairment in value, except where such impairment in value is directly caused by the Pledgee’s willful misconduct or gross negligence.

  

	2.5	 Upon the occurrence of any Breaching Event, the Pledgee shall have the right to dispose of the Pledged Equity
in the manner set forth in Article 4 hereof. 

  

	2.6	 Without the prior written consent of the Pledgee, the Pledgors shall not increase the registered capital of the
Domestic Company by contributing additional capital, or allowing any third party to contribute additional capital, to the Domestic Company. 

  

	2.7	 Without the prior written consent of the Pledgee, the Pledgors shall not adopt any shareholders’
resolution or otherwise permit the Domestic Company to declare or distribute any dividends or profits. 

  

	2.8	 Without the prior written consent of the Pledgee, the Pledgors shall not enter into any transactions with the
Domestic Company. 

  

	2.9	 Within 5 Working Days from the date hereof (or a longer term agreed by the Pledgee), the Pledgors shall provide
the original of the capital contribution certificates (if any) held by it in respect of the Pledged Equity and the original of the register of shareholders of the Domestic Company recording the Equity Pledge to the Pledgee to keep within the term of
the Equity Pledge. In case of any change in the percentage of the equity interests held by the Pledgors in the Domestic Company, the Pledgors shall, within 5 Working Days from the date on which such change in the percentage of the equity interests
is registered with the SAMR, provide the original of the updated capital contribution certificates (if any) held by it in respect of the Pledged Equity and the original of the updated register of shareholders of the Domestic Company recording the
Equity Pledge to the Pledgee to keep within the term of the Equity Pledge. During the term of this Agreement, the Pledgee shall be responsible for keeping the originals of such documents. 

 

	2.10	 During the term of this Agreement, the Pledgee shall have the right to receive the dividends distributed and
any other allocation paid in respect of the Pledged Equity. 

  

	3	 Release of Pledge 

Upon full and complete performance by relevant Pledgor and the Domestic Company of all of their Contractual Obligations (including the full
discharge and satisfaction of the Secured Debts), the Pledgee shall, at the request of the Pledgor, release the pledge, and shall cooperate with relevant Pledgor to complete relevant formalities to deregister the the Equity Pledge recorded in the
register of shareholders of the Domestic Company and registered with the SAMR, and all expenses reasonably incurred in connection with such release shall be borne by the Domestic Company. The Parties shall cause the Domestic Company to bear such
expenses. 
  

	4	 Disposal of the Pledged Equity 

 

	4.1	 The Pledgors and the Pledgee hereby agree that, upon the occurrence of any Breaching Event, the Pledgee shall
have the right to exercise, after giving a written notice to the Pledgors, all of the rights and powers of the Pledgors under the PRC Law, the Transaction Agreements and the terms hereof, including but not limited to having priority in receiving the
proceeds from the disposal of the Pledged Equity. If the Pledgee decides to dispose of the Pledged Equity in accordance with this Agreement, the Pledgors and the Domestic Company shall provide all necessary assistance to secure the Pledgee to
enforce the Equity Pledge in accordance with this Agreement. 

  
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	4.2	 The Pledgee shall have the right to designate in writing its legal counsel or other agents to exercise on its
behalf any and all rights and powers set forth below, and the Pledgors shall not raise any objection thereto. 

  

	4.3	 The reasonable costs incurred by the Pledgee in connection with its exercise of any and all rights and powers
set out above shall be borne by the Pledgors, and the Pledgee shall have the right to deduct the costs actually incurred from the proceeds that it obtains from the exercise of its rights and powers. 

 

	4.4	 The proceeds that the Pledgee obtains from the exercise of its rights and powers shall be used in the following
order of priority: 

  

	 	(1)	 first, to pay any cost incurred in connection with the disposal of the Pledged Equity and the exercise by the
Pledgee of its rights and powers (including any remuneration paid to its legal counsels and agents); 

  

	 	(2)	 second, to pay any taxes and fees payable in connection with the disposal of the Pledged Equity (for the
avoidance of doubt, such taxes shall not include any income tax); and 

  

	 	(3)	 third, to repay the Secured Debts to the Pledgee. 

Any proceeds remaining after the payment of the above amounts shall be paid by the Pledgors to the Pledgee or its designated person in a way as
instructed by the Pledgee. The Pledgee has no obligation to assume any liabilities to the Pledgors in connection with the proceeds from the disposal of the Pledged Equity, and the Pledgors hereby waive any right they may have to claim such proceeds
from the Pledgee. 
  

	5	 Continuity and No Waiver 

The Equity Pledge hereunder shall be a continuous security and remain valid until the full performance of the Contractual Obligations or the
full discharge and satisfaction of the Secured Debts. Neither exemption or grace period granted by the Pledgee to the Pledgors in respect of any breach, nor delay by the Pledgee in exercising any of its rights under the Transaction Agreements and
this Agreement, shall affect the rights of the Pledgee under this Agreement, relevant PRC Law and the Transaction Agreements, the rights of the Pledgee to demand at any time thereafter the strict performance by the Pledgors of the Transaction
Agreements and this Agreement, or the rights the Pledgee may be entitled to due to any subsequent breach by the Pledgors of the Transaction Agreements and/or this Agreement. 
  

	6	 Representations and Warranties 

 

	6.1	 During the term from the date of this Agreement to the date of the termination or expiration of this Agreement,
the Pledgors represent and warrant to the Pledgee as follows: 

  

	 	(a)	 Each of the Pledgors is a PRC citizen with power and capacity to execute and perform his/her obligations under
this Agreement. 

  
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	 	(b)	 The execution and performance of this Agreement by the Pledgors does not violate any laws and regulations or
government approvals, authorizations, notices or other governmental documents having binding effect on or affecting the Pledgors, nor does it violate any agreements between Pledgors and any third party or any covenants made to any third party.

  

	 	(c)	 This Agreement constitutes the lawful, valid and enforceable obligations of the Pledgors.

  

	 	(d)	 All reports, documents and information provided by the Pledgors to the Pledgee are true, correct and accurate
in all material respects. 

  

	 	(e)	 The Pledgors are the only legal owners of the Pledged Equity, with no existing dispute concerning the ownership
of the Pledged Equity. Except for the restrictions imposed by the Transaction Agreements and this Agreement, the Pledgors have the right to dispose of the Pledged Equity or any part thereof. 

 

	 	(f)	 Except for the security interests created over the Pledged Equity hereunder and otherwise agreed by the Parties
and the rights set forth under the Transaction Agreements, there is no other security interest or third party right over the Pledged Equity. 

  

	 	(g)	 The Pledged Equity can be pledged or transferred according to the PRC Law, and the Pledgors have the full right
and power to pledge the Pledged Equity to the Pledgee in accordance with this Agreement. 

  

	 	(h)	 Any consent, permission, waiver or authorization by any third party, or any approval, permission or exemption
by any governmental authority, or any registration or filing formalities with any governmental authority as required to be completed or obtained in respect of the execution and performance hereof and the creation of the Equity Pledge hereunder have
been or will be handled or obtained, and will be fully effective during the term of this Agreement. 

  

	 	(i)	 The pledge hereunder constitutes a first ranking pledge on the Pledged Equity. 

 

	 	(j)	 There is no pending or, to the knowledge of the Pledgors, threatened litigation, legal proceedings or claims
brought by any court or arbitral tribunal or any governmental authority or administrative authority against each Pledgor or his/her property or the Pledged Equity, which may have a material adverse effect on the economic status of each Pledgor or
his/her capability to perform the obligations under this Agreement and the Transaction Agreements or to discharge and satisfy the Secured Debts. There is no pending or, to the knowledge of the Pledgors, threatened litigation, legal proceedings or
claims brought against each Pledgor or his/her property or the Pledged Equity. 

  

	6.2	 During the term from the date of this Agreement to the date of the termination or expiration of this Agreement,
the Pledgee represents and warrants to the Pledgors as follows: 

  

	 	(a)	 The Pledgee is a limited liability company duly established and existing under the PRC Law.

  

	 	(b)	 The Pledgee has the power to execute and perform its obligations under this Agreement. The execution and
performance of this Agreement by the Pledgee is in compliance with the articles of association or other organizational documents of the Pledgee, and the Pledgee has obtained all necessary and appropriate approvals and authorizations for the
execution and performance of this Agreement. 

  
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	 	(c)	 This Agreement shall constitute lawful, valid and enforceable obligations of the Pledgee.

  

	6.3	 During the term from the date of this Agreement to the date of the termination or expiration of this Agreement,
the Domestic Company represents and warrants to the Pledgee as follows: 

  

	 	(a)	 It is a limited liability company duly established and existing under the PRC Law. 

 

	 	(b)	 It has the power to execute and perform its obligations under this Agreement. The execution and performance of
this Agreement by it is in compliance with its articles of association or other organizational documents, and it has obtained all necessary and appropriate approvals and authorizations for the execution and performance of this Agreement.

  

	 	(c)	 Its execution and performance of this Agreement does not violate any laws and regulations or government
approvals, authorizations, notices or other governmental documents having binding effect on or affecting it, or any agreements between the Domestic Company and any third party or any covenants made to any third party. 

 

	 	(d)	 Any consent, permission, waiver or authorization by any third party, or any approval, permission or exemption
by any governmental authority, or any registration or filing formalities with any governmental authority as required to be completed or obtained in respect of the execution and performance hereof and the creation of the Equity Pledge hereunder have
been or will be handled or obtained, and will be fully effective during the term of this Agreement. 

  

	 	(e)	 This Agreement constitutes its lawful, valid and enforceable obligations. 

 

	7	 Undertakings by the Pledgors and Domestic Company 

 

	7.1	 The Pledgors hereby undertake to the Pledgee as follows: 

 

	 	(a)	 Without the prior written consent of the Pledgee, the Pledgors shall not create or permit to create any other
pledge or any other security interests on the Pledged Equity. Without such prior written consent, any pledge or other security interests on all or part of the Pledged Equity shall be null and void. 

 

	 	(b)	 Without the prior written consent of the Pledgee, the Pledgors shall not transfer the Pledged Equity, and any
attempt by the Pledgors to transfer the Pledged Equity shall be null and void. The proceeds from the transfer of the Pledged Equity by the Pledgors shall be used to prepay the Secured Debts to the Pledgee or submit the same to the third party agreed
by the Pledgee. 

  

	 	(c)	 The Pledgors shall promptly notify the Pledgee of any litigation, arbitration, claim or other actions which may
adversely affect the interest of the Pledgors or the Pledgee under the Transaction Agreements and hereunder or in respect of the Pledged Equity, and shall timely notify the Pledgee of the progress of such litigation, arbitration, claim or actions,
and shall take all reasonable measures to defend such actions and protect the interest of the Pledgee in the Pledged Equity. 

  
 6 

	 	(d)	 The Pledgors shall not take or permit any act or action which may adversely affect the interest of the Pledgors
and the Pledgee under the Transaction Agreements and hereunder or in respect of the Pledged Equity. 

  

	7.2	 The Domestic Company shall, within the first month of each calendar quarter, provide the Pledgee with the
financial statements of the Domestic Company, including (but not limited to) the balance sheet, the profit statement and the cash flow statement of the Domestic Company for the previous calendar quarter. 

 

	8	 Change of Circumstances 

As a supplement to comply with the Transaction Agreements and other provisions of this Agreement, in the event of any promulgation or amendment
of any PRC Law, regulations or rules, or any change of relevant registration procedures which causes the Pledgee to believe that it will be illegal or in conflict with such laws, regulations or rules to further maintain the effectiveness of this
Agreement and/or dispose of the Pledged Equity in the manner provided herein, the Pledgors shall, at the written instruction of the Pledgee and upon reasonable request of the Pledgee, promptly take all actions and/or execute any agreement or other
document, in order to: 
  

	 	(1)	 keep this Agreement legal and effective; 

 

	 	(2)	 facilitate the disposal of the Pledged Equity in the manner provided herein; and/or 

 

	 	(3)	 maintain or realize the intention or the security established hereunder. 

 

	9	 Effectiveness and Term of Agreement 

 

	9.1	 This Agreement shall become effective
upon                .The pledge under this Agreement shall become effective when the Equity Pledge has been legally recorded in the register of shareholders of the
Domestic Company and registered with the SAMR to the extent permitted by the SAMR and practicable. The Pledgors shall carry out all approval, registration and filing formalities as required by the PRC Law (including but not limited to the
registration of the Equity Pledge with the SAMR in a timely manner to the extent permitted by the SAMR and practicable). 

  

	9.2	 This Agreement shall continue to be valid until the full performance of the Contractual Obligations or the full
discharge and satisfaction of the Secured Debts. 

  

	9.3	 The Parties agree and acknowledge that in no event shall the Pledgors and the Domestic Company terminate this
Agreement by any reason. 

  

	9.4	 The Parties agree and acknowledge that the Pledgee shall have the right to unilaterally terminate this
Agreement at any time by sending a 30 days’ prior written notice to the Pledgors and the Domestic Company. 

  

	10	 Notice 

All notices, claims, certificates, requests, demands and other communications under this Agreement shall be made in writing and shall be
delivered to any Party hereto by hand or, sent by facsimile, or sent, postage prepaid, by reputable overnight courier services at the following addresses (or at such other address for such Party as shall be specified by notice), and shall be deemed
given when so delivered by hand, or if sent by facsimile, upon receipt of a confirmed transmittal receipt, or if sent by overnight courier, five (5) days after delivery to or pickup by the overnight courier service: 

  
 7 

 If to Pledgee: 

Address: 
 Telephone: 

Attention: 
 with a copy to:

 Address: 
 Attention: 

Telephone: 
 If
to Pledgors: 
 Chen QIAN 

Address: 
 Telephone: 

Fei XU 
 Address: 

Telephone: 
 If to Domestic
Company: 
 Address: 

Telephone: 
 Attention: 

 

	11	 Confidentiality 

The Parties acknowledge and confirm that any oral or written information exchanged among them with respect to this Agreement constitutes
confidential information. The Parties shall maintain the confidentiality of all such information. Without the prior written consent of the Party providing such information, none of the Parties shall disclose any confidential information to any third
party, except in the following circumstances: (a) such information is or comes into the public domain (through no fault or disclosure by the receiving party); (b) information required by applicable laws or regulations or rules of any stock
exchange to be disclosed; or (c) information required to be disclosed by any Party to its legal counsel or financial advisor regarding the transactions contemplated hereunder, and such legal counsel or financial advisor is also bound by duties
of confidentiality similar to the duties set forth in this Article. Disclosure of any confidential information by any staff, employee or consultant of any Party shall be deemed as disclosure of such confidential information by such Party, for which
the Party shall be held liable for breach of this Agreement. This Article shall survive the termination of this Agreement for any reason. 

  
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	12	 Applicable Law and Dispute Resolution 

 

	12.1	 The formation, validity, interpretation, performance, amendment, termination and dispute resolution of this
Agreement shall be governed by the PRC Law. 

  

	12.2	 Any dispute arising from the interpretation and performance of this Agreement shall first be resolved through
friendly consultations by the Parties. If the dispute fails to be resolved within thirty (30) days after one Party gives notice requesting consultations to the other Party, either Party may submit such dispute to China International Economic
and Trade Arbitration Commission (hereinafter the “CIETAC”) for arbitration in Beijing in accordance with the then effective arbitration rules of the CIETAC. The arbitration tribunal shall consist of three (3) arbitrators who
may or may not be on the CIETAC’s list of arbitrators, of which one arbitrator shall be selected by the Pledgee and one arbitrator shall be jointly selected by the Pledgors and the Domestic Company. The third arbitrator, who shall be the
presiding arbitrator of the arbitration tribunal, and shall be jointly selected by the parties to the arbitration. The arbitration award shall be final and binding on all Parties. 

 

	12.3	 During the existence of any dispute, the Parties shall continue to exercise their remaining respective rights,
and fulfill their remaining respective obligations under this Agreement, except insofar as the same may relate directly to the matters in dispute. 

  

	12.4	 Notwithstanding the foregoing, the Parties agree that any of them may seek interim measures including property
preservation in relation to the provisions of this Agreement or the Parties’ performance hereof from any court of competent jurisdiction. 

  

	13	 Miscellaneous 

 

	13.1	 The Pledgee may, upon notice to the Pledgors and the Domestic Company but without consent from the Pledgors and
the Domestic Company, assign the Pledgee’s rights and/or obligations hereunder to any third party. The Pledgors or the Domestic Company may not, without Pledgee’s prior written consent, assign any rights, obligations and/or liabilities of
the Pledgors or the Domestic Company hereunder to any third party. Successors or permitted assignees (if any) of the Pledgors and the Domestic Company shall be bound by, and continue to perform, the obligations of the Pledgors and the Domestic
Company under this Agreement. 

  

	13.2	 If the Pledgee assigns its rights hereunder to any third party (the “Assignee”) in accordance
with this Agreement, the Pledgors, at the request of the Pledgee, shall execute a new equity pledge agreement with the Assignee based on the same terms and conditions as those in this Agreement, and shall complete relevant registration formalities
with the SAMR in respect of such change of the pledgee. 

  

	13.3	 The amount of Secured Debts determined by the Pledgee in exercising its rights over the Pledged Equity in
accordance with the provisions contained herein shall be the conclusive evidence of the amount of the Secured Debts. 

  

	13.4	 This Agreement is made in four (4) originals in Chinese. Each Party shall keep one (1) original
version. 

  
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	13.5	 This Agreement may not be amended or modified in any manner except by an instrument in writing signed by the
Parties hereto. 

  

	13.6	 No waiver of any provision of this Agreement shall be effective unless made in writing and signed by the
Parties. The waiver by any Party of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any preceding or succeeding breach and no failure by either Party to exercise any right or privilege hereunder shall be
deemed a waiver of such Party’s rights or privileges hereunder or shall be deemed a waiver of such Party’s rights to exercise the same at any time subsequent to the execution hereof. 

 

	13.7	 If any provision of this Agreement is deemed or becomes invalid, illegal or unenforceable, such provision shall
be construed or deemed amended to conform to applicable laws so as to be valid and enforceable; or, if it cannot be so construed or deemed amended without materially altering the intention of the Parties, it shall be stricken and the remainder of
this Agreement shall remain in full force and effect. 

  

	13.8	 Upon the execution of this Agreement, each of the Pledgors shall respectively enter into a letter of
authorization (the “Letter of Authorization”, the form of which is set forth in Appendix II hereto) to authorize a person acceptable to the Pledgee to sign, on behalf of such Pledgor and according to this Agreement, any and all
legal documents necessary for the Pledgee to exercise its rights hereunder. Such Letter of Authorization shall be delivered to the Pledgee and the Pledgee may, at any time if necessary, require the Pledgors to respectively execute multiple copies of
the Letter of Authorization and deliver the same to relevant government authority. 

  

	13.9	 Each Party shall use all reasonable efforts to take and do, or cause to take and do, all such actions and
things and shall execute and deliver all such other agreements, certificates, instruments and documents as may be necessary or desirable to give effect to the terms and intent of this Agreement and any ancillary documents. If required under any
applicable laws, regulations or listing rules or required or deemed desirable by any stock exchange, government or other regulatory authority in connection with the initial public offering and listing of the shares in the Potential Listed Company
(“IPO”) or the initial public offering and listing of the shares in any company which adopts a variable interest entity (VIE) structure (the “IPO Requirements”), each of the Pledgors and the Domestic Company agrees
and undertakes to (a) take all such actions (including amendment to this Agreement and its appendices, any authorizations, documents and notices entered into or delivered in connection with this Agreement and the execution of additional
documents) to comply with or, as applicable, meet the IPO Requirements, and (b) take all actions referred to in paragraph (a) above within 3 Working Days upon request of the Pledgee. For the purpose of this Article, “Potential
Listed Company” means such other company which beneficially owns, whether directly or indirectly, the equity interests in the Pledgee and operates its business in the PRC through the Pledgee and the Domestic Company, as identified by the
Pledgee or its actual controller and notified by the Pledgee to the other Parties as the Potential Listed Company under this paragraph. 

  

	13.10	 This Agreement may be executed in several counterparts and all counterparts so executed shall together
constitute one agreement. Any Party may execute this Agreement by executing any counterpart. 

  

	13.11	 If there is any discrepancy between this Agreement and any agreement submitted to the SAMR for the purpose of
the registration of the Equity Pledge, this Agreement shall prevail. 

 **REMAINDER OF PAGE INTENTIONALLY LEFT BLANK** 

  
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 IN WITNESS WHEREOF, this Agreement has been executed by the duly authorized
representatives of the Parties as of the date first written above. 
  

			
	 Pledgee:
	 	 [Name of Pledgee]

		
		 	 (seal)

		 	 By: __________________________

		 	 Title: ____________________

	
	 Pledgors:

		 	 Chen QIAN

		 	 By: __________________________

		
		 	 Fei XU

		 	 By: __________________________

		
	Domestic Company:	 	 [Name of Domestic Company]

		
		 	 (seal)

		 	 By: ______________________

		 	 Title: _________________________

  

  
 Signature Page
of Equity Pledge Agreement 

 Appendix I 

Basic Information of the Domestic Company 

Company Name: [Name of Domestic Company]     

Domicile: 
 Registered Capital: 

Equity Structure: 100% held by Fei XU and Chen QIAN in the aggregate 

  
 Appendix I 

 Appendix II 

Form of Letter of Authorization 

Letter of Authorization 
 I, [name of the
Pledgor] (ID Card No.: [    ]), hereby irrevocably authorize                (ID Card
No.:                ) as my authorized representative, to sign all legal documents necessary for [Name of Pledgee], as the Pledgee, to
exercise its rights under the Equity Pledge Agreement entered into by and among [Name of Pledgee], [Name of Domestic Company] and me
on                . 

                          
                                         
             By: _____________________________________ 

  
 Appendix IIEX-10.7

 Exhibit 10.7 

EXCLUSIVE BUSINESS COOPERATION AGREEMENT 

This Exclusive Business Cooperation Agreement (this “Agreement”) is entered into by and between the following parties
on                : 
  

	(1)	
                       
                                         
                                        
(“WFOE”), a wholly foreign owned enterprise registered in the People’s Republic of China (“PRC”) with its domicile
at                ; and 

  

	(2)	
                       
                                         
                                        
(“Domestic Company”), a limited liability company registered in                , the PRC with its domicile
at                . 

 WFOE and the Domestic Company are
hereinafter collectively referred to as the “Parties” and individually, as a “Party”. 
 Whereas: 

 

	(A)	 WFOE is a wholly foreign owned enterprise registered in the PRC, having necessary resources to provide
technical services and commercial consulting services. 

  

	(B)	 The Domestic Company is a domestic company registered in the PRC which is approved by relevant PRC authorities
to carry out IDC business. 

  

	(C)	 WFOE agrees to utilize its advantages in terms of human resources, technology and information to provide the
Domestic Company with exclusive technical services, technical consulting and other services in relation to IDC business within the term of this Agreement, and the Domestic Company agrees to accept such services provided by WFOE or its designated
parties in accordance with this Agreement. 

 Therefore, the Parties enter into this Agreement as follows upon friendly
negotiation: 
  

	1	 Service Provided by WFOE 

 

	1.1	 In accordance with the terms and conditions of this Agreement, the Domestic Company hereby appoints WFOE as its
exclusive IDC business service provider to provide the Domestic Company with complete business support, technical services and consulting services, covering all services that WFOE determines from time to time with respect to IDC business, including
but not limited to technical services, management services, network support, business consultations, intellectual property licenses, equipment or office leasing, marketing consultancy, system integration, product research and development, and system
maintenance. 

  

	1.2	 The Domestic Company agrees to accept the consultations and services provided by WFOE. The Domestic Company
further agrees that, without WFOE’s prior written consent, within the term of this Agreement and with respect to the subject matter in this Agreement, the Domestic Company shall not accept any consultations and/or services from any third party,
nor cooperate with any third party. WFOE may designate other parties to provide consultations and/or services to the Domestic Company hereunder. 

  

	1.3	 The service shall be provided as follows: 

 

	 	(a)	 the Parties agree that, within the term of this Agreement, the Parties may, directly or through their
respective affiliates, enter into other technical service agreement and consulting service agreement providing for the specific content, method, personnel and fee of certain technical services and consulting services; 

  
 1 

	 	(b)	 for the purpose of performing this Agreement, the Parties agree that, within the term of this Agreement, the
Parties may, directly or through their respective affiliates, enter into an intellectual property (including but not limited to software, trademark, patent and technical secret) license agreement, pursuant to which the Domestic Company shall be
permitted to use relevant intellectual property rights of WFOE and its affiliates as needed for the Domestic Company’s business; 

  

	 	(c)	 for the purpose of performing this Agreement, the Parties agree that, within the term of this Agreement, the
Parties may, directly or through their respective affiliates, enter into an equipment or venue lease agreement, pursuant to which the Domestic Company shall be permitted to use relevant equipment or venue of WFOE and its affiliates as needed for the
Domestic Company’s business. 

  

	2	 Calculation and Payment Method of Service Fee 

 

	2.1	 The Parties agree that WFOE will issue a bill on a quarterly basis to the Domestic Company at the price agreed
by the Parties and based on the workload and commercial value of the technical services provided by WFOE to the Domestic Company. The Domestic Company shall pay relevant consulting service fee and/or technical service fee (collectively, the
“Service Fee”) to WFOE on the date and at the price as specified in the bill. WFOE shall promptly issue an invoice to the Domestic Company after receipt of such Service Fee. Notwithstanding the foregoing, WFOE shall have the right
to adjust, at its own discretion and at any time, the pricing standard of the services provided to the Domestic Company based on the quantity, difficulty, urgency and other factors of the services provided by it to the Domestic Company, and
calculate the Service Fee payable by the Domestic Company accordingly. Unless WFOE has manifest negligence or material fault when calculating the Service Fee, the amount of the Service Fee calculated by WFOE based on such pricing standard shall be
the final amount, and WFOE shall issue the bill with such amount. The Domestic Company shall unconditionally pay the Service Fee to WFOE within fifteen (15) Working Days upon receipt of the bill. 

 

	2.2	 Notwithstanding anything to the contrary, within the term of this Agreement, WFOE shall have the right to waive
the Service Fee payable by the Domestic Company under any one or more bills at its own discretion. 

  

	2.3	 Subject to relevant PRC laws and regulations, within thirty (30) days of the end of each fiscal year, the
Domestic Company shall provide WFOE with the financial statements of such fiscal year and all operation records, business contracts and financial materials as required to issue such financial statements. If WFOE has any doubt with respect to the
financial materials provided by the Domestic Company, WFOE shall have the right to appoint a reputable independent accounting firm to audit relevant materials, and the Domestic Company shall provide assistance. 

 

	3	 Representations and Warranties 

 

	3.1	 The Domestic Company hereby represents and warrants as follows: 

 

	 	(a)	 It is a limited liability company duly established and existing under the PRC law. 

 

	 	(b)	 It has the power to execute and perform its obligations under this Agreement. Its execution and performance of
this Agreement is in compliance with its articles of association or other organizational documents, and it has obtained all necessary and appropriate approvals and authorizations for the execution and performance of this Agreement.

  
 2 

	 	(c)	 Its execution and performance of this Agreement does not violate any laws and regulations or government
approvals, authorizations, notices or other governmental documents having binding effect on or affecting it, or any agreements between the Domestic Company and any third party or any covenants made to any third party. 

 

	 	(d)	 This Agreement constitutes its lawful, valid and enforceable obligations. 

 

	 	(e)	 It has all business permits necessary for the operations and other businesses in relation to its current
business structure. 

  

	3.2	 WFOE hereby represents and warrants as follows: 

 

	 	(a)	 WFOE is a wholly foreign owned enterprise duly registered and existing under the PRC law.

  

	 	(b)	 WFOE has the power to execute and perform its obligations under this Agreement. The execution and performance
of this Agreement by WFOE is in compliance with the articles of association or other organizational documents of WFOE, and WFOE has obtained all necessary and appropriate approvals and authorizations for the execution and performance of this
Agreement. 

  

	 	(c)	 The execution and performance of this Agreement by WFOE does not violate any laws and regulations or government
approvals, authorizations, notices or other governmental documents having binding effect on or affecting WFOE, nor does it violate any agreements between WFOE and any third party or any covenants made to any third party. 

 

	 	(d)	 This Agreement constitutes lawful, valid and enforceable obligations of WFOE. 

 

	4	 Intellectual Property Right and Confidentiality 

 

	4.1	 WFOE shall exclusively have the proprietary rights and interests attached to all rights, ownerships, interests
and intellectual property rights arising from, or created during, the performance of this Agreement, including but not limited to copyrights, patents, patent applications, trademarks, software, technical secrets and trade secrets and otherwise,
whether developed by WFOE or the Domestic Company. 

  

	4.2	 The Parties acknowledge and confirm that any oral or written information exchanged between them with respect to
this Agreement constitutes confidential information. The Parties shall maintain the confidentiality of all such information. Without the prior written consent of the Party providing such information, none of the Parties shall disclose any
confidential information to any third party, except in the following circumstances: (a) such information is or comes into the public domain (through no fault or disclosure by the receiving party); (b) information required by applicable laws or
regulations or rules of any stock exchange to be disclosed; or (c) information required to be disclosed by any Party to its legal counsel or financial advisor regarding the transactions contemplated hereunder, and such legal counsel or
financial advisor is also bound by duties of confidentiality similar to the duties set forth in this Article. Disclosure of any confidential information by any staff, employee or consultant of any Party shall be deemed as disclosure of such
confidential information by such Party, for which the Party shall be held liable for breach of this Agreement. This Article shall survive the termination of this Agreement for any reason. 

  
 3 

	5	 Term of Agreement 

 

	5.1	 This Agreement shall become effective
upon                . 

  

	5.2	 Unless as early terminated in accordance with this Agreement or other relevant agreements entered into by the
Parties, the term of this Agreement shall be ten (10) years (the “Initial Term”) from the effective date of this Agreement. Upon the expiration of the Initial Term or any Extended Term, unless WFOE issues a written termination
notice thirty (30) days prior to the expiration, the term of this Agreement shall be automatically extended for ten (10) years (each ten (10)-year period, an “Extended Term”). Unless otherwise agreed in this Agreement, if
within the Initial Term or any Extended Term, the business term of WFOE or the Domestic Company (including any renewed period) expires, the relevant Party shall promptly renew its business term in order to remain the effectiveness and implementation
of this Agreement. 

  

	5.3	 WFOE has the right to terminate this Agreement at any time by issuing a prior written notice to the other Party
thirty (30) days in advance. 

  

	6	 Notice 

All notices, claims, certificates, requests, demands and other communications under this Agreement shall be made in writing and shall be
delivered to any Party hereto by hand or, sent by facsimile, or sent, postage prepaid, by reputable overnight courier services at the following addresses (or at such other address for such Party as shall be specified by notice), and shall be deemed
given when so delivered by hand, or if sent by facsimile, upon receipt of a confirmed transmittal receipt, or if sent by overnight courier, five (5) days after delivery to or pickup by the overnight courier service: 

If to WFOE: 
 Address:

 Telephone: 
 Attention:

 with a copy to: 
 Address:

 Attention: 
 Telephone:

 If to Domestic Company: 

Address: 
 Telephone: 

Attention: 

  
 4 

	7	 Liability for Default 

 

	7.1	 The Parties agree and confirm that, if any Party (hereinafter the “Defaulting Party”) breaches
substantially any of the provisions herein or fails substantially to perform any of the obligations under this Agreement, it shall constitute a default under this Agreement (hereinafter a “Default”), and the non-defaulting Party shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take
remedial measures within such reasonable period or within ten (10) days of the non-defaulting Party notifying the Defaulting Party in writing and requiring it to rectify the Default, the non-defaulting Party shall have the right at its own discretion to select any of the following remedial measures: 

  

	 	(1)	 to terminate this Agreement and require the Defaulting Party to indemnify it against all damages suffered; or

  

	 	(2)	 to seek mandatory performance of the obligations of the Defaulting Party hereunder and require the Defaulting
Party to indemnify it against all damages suffered. 

  

	7.2	 Notwithstanding the above Article 7.1, the Parties agree and confirm that in no circumstances shall the
Domestic Company request the termination of this Agreement for any reason. 

  

	7.3	 The rights and remedies prescribed herein are cumulative, and other rights or remedies prescribed by the law
are not precluded. 

  

	7.4	 Notwithstanding any other provisions herein, the validity of this Article shall not be affected by the
suspension or termination of this Agreement. 

  

	8	 Applicable Law and Dispute Resolution 

 

	8.1	 The formation, validity, interpretation, performance, amendment, termination and dispute resolution of this
Agreement shall be governed by the PRC law. 

  

	8.2	 Any dispute arising from the interpretation and performance of this Agreement shall first be resolved through
friendly consultations by the Parties. If the dispute fails to be resolved within thirty (30) days after one Party gives notice requesting consultations to the other Party, either Party may submit such dispute to China International Economic
and Trade Arbitration Commission (hereinafter the “CIETAC”) for arbitration in Beijing in accordance with the then effective arbitration rules of the CIETAC. The arbitration tribunal shall consist of three (3) arbitrators who
may or may not be on the CIETAC’s list of arbitrators, of which one arbitrator shall be selected by WFOE and one arbitrator shall be selected by the Domestic Company. The third arbitrator, who shall be the presiding arbitrator of the
arbitration tribunal, and shall be jointly selected by the parties to the arbitration. The arbitration award shall be final and binding on the Parties. 

  

	8.3	 During the existence of any dispute, the Parties shall continue to exercise their remaining respective rights,
and fulfill their remaining respective obligations under this Agreement, except insofar as the same may relate directly to the matters in dispute. 

  

	8.4	 Notwithstanding the foregoing, the Parties agree that any of them may seek interim measures including property
preservation in relation to the provisions of this Agreement or the Parties’ performance hereof from any court of competent jurisdiction. 

  
 5 

	9	 Miscellaneous 

 

	9.1	 WFOE may, upon notice to the Domestic Company but without consent from the Domestic Company, assign WFOE’s
rights and/or obligations hereunder to any third party. The Domestic Company may not, without WFOE’s prior written consent, assign any rights, obligations and/or liabilities of the Domestic Company hereunder to any third party. Successors or
permitted assignees (if any) of the Domestic Company shall be bound by, and continue to perform, the obligations of the Domestic Company under this Agreement. 

 

	9.2	 This Agreement is made in two (2) originals in Chinese. Each Party shall keep one (1) original
version. 

  

	9.3	 This Agreement may not be amended or modified in any manner except by an instrument in writing signed by the
Parties hereto. 

  

	9.4	 No waiver of any provision of this Agreement shall be effective unless made in writing and signed by the
Parties. The waiver by any Party of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any preceding or succeeding breach and no failure by either Party to exercise any right or privilege hereunder shall be
deemed a waiver of such Party’s rights or privileges hereunder or shall be deemed a waiver of such Party’s rights to exercise the same at any time subsequent to the execution hereof. 

 

	9.5	 If any provision of this Agreement is deemed or becomes invalid, illegal or unenforceable, such provision shall
be construed or deemed amended to conform to applicable laws so as to be valid and enforceable; or, if it cannot be so construed or deemed amended without materially altering the intention of the Parties, it shall be stricken and the remainder of
this Agreement shall remain in full force and effect. 

  

	9.6	 Each Party shall use all reasonable efforts to take and do, or cause to take and do, all such further actions
and things and shall execute and deliver all such other agreements, certificates, instruments and documents as may be necessary or desirable to give effect to the terms and intent of this Agreement and any ancillary documents. If required under any
applicable laws, regulations or listing rules or required or deemed desirable by any stock exchange, government or other regulatory authority in connection with the initial public offering and listing of the shares in the Potential Listed Company
(“IPO”) or the initial public offering and listing of the shares in any company which adopts a variable interest entity (VIE) structure (the “IPO Requirements”), the Domestic Company agrees and undertakes to
(a) take all such actions (including amendment to this Agreement and its appendices, any authorizations, documents and notices entered into or delivered in connection with this Agreement and the execution of additional documents) to comply with
or, as applicable, meet the IPO Requirements, and (b) take all actions referred to in paragraph (a) above within 3 Working Days upon request of WFOE. For the purpose of this Article, “Potential Listed Company” means such
other company which beneficially owns, whether directly or indirectly, the equity interests in WFOE and operates its business in the PRC through WFOE and the Domestic Company, as identified by WFOE or its actual controller and notified by WFOE to
the other parties as the Potential Listed Company under this paragraph. “Working Day” referred to in this Agreement means any day, except for a Saturday, Sunday or PRC statutory holiday. 

 

	9.7	 This Agreement may be executed in several counterparts and all counterparts so executed shall together
constitute one agreement. Any Party may execute this Agreement by executing any counterpart. 

 **REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK** 

  
 6 

 IN WITNESS WHEREOF, this Agreement has been executed by the duly authorized
representatives of the Parties as of the date first written above. 
  

			
	[Name of WFOE]
	(seal)
	By:	 	
                     

	Title:	 	  

	
	[Name of Domestic Company]
	(seal)
	By:	 	  

	Title:	 	  

  

  
 Signature Page
of Exclusive Business Cooperation Agreement

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