Document:

EX-10.31

 Exhibit 10.31 

Ganzhou Happy Life Network Microcredit Co., Ltd. 

Chongqing Alibaba Small Loans Co., Ltd. 

Online Personal Loan Cooperation Agreement 

Contract No.: 
 Party A: Ganzhou Happy Life
Network Microcredit Co., Ltd. 
 Domicile: Qudian Group, 13/F&15/F, No.222 Huizhongbeili, Chaoyang District, Beijing 

Legal Representative: Min Luo 
 Postcode: 

Telephone: [REDACTED]1 

Facsimile: 
 Party B: Chongqing Alibaba Small Loans Co., Ltd.

 Domicile: 15-16/F, Tower 1, Delixi Building, No.28 Xueyuan Road, Xihu District, Hangzhou, Zhejiang 

Legal Representative: Shengfa Yu 
 Agent: [REDACTED]2 
 Postcode: 310000 

Telephone: [REDACTED]3 

Facsimile: [REDACTED]4 

 

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 In order to facilitate integration and development of the Internet and financial industry in our country, expand
cooperation of the parties in the Internet finance industry, achieve resource complementarity, and also to provide a better and more comprehensive financial service to individual customers, promote the business development and improve the
operational efficiency, the parties reach cooperation in the area of online personal loan through friendly negotiation on the principle of mutual trust, mutual support, reciprocal benefit and common development in accordance with relevant laws and
regulations, policies and regulatory rules of the state. 
 I. Definition 

Article 1 The following terms shall have the meanings set forth below, except as otherwise provided for in this Agreement: 

 

	1.	Online Personal Loan Business means the loan business services targeted at any individual borrower who meets the specified access standards, which are provided by the parties through mutual cooperation by using
“Ant Jiebei” (“Jiebei”) as business platform (hereinafter referred to as the “Business”). 

  

	2.	Ant Jiebei means the Internet loan platform operated by Chongqing Alibaba Small Loans Co., Ltd. for supply of loan products and/or loan services, including, among others, Jiebei cash loan, Jiebei directional payment
loan and whole-process loan comprehensive management services. 

  

	3.	Loan means all kinds of loans extended by Party A as the lender by taking advantage of “Jiebei” brand and channel in the Business cooperation, if not otherwise indicated. 

 

	4.	Borrower means the individual borrower of all kinds of loans covered by the Business. 

  

	5.	Loan Contract means the contract in the form of data message jointly singed online by the Borrower on one hand and Party A as the lender and Party B providing support for loan services on the other hand for the purpose
of setting forth relevant terms and conditions of the loan and related services, regardless of the actual name of such contract. 

  

	6.	Alipay Company means Alipay.com Co., Ltd. 

  

	7.	E-Commerce Bank means Zhejiang E-Commerce Bank Co. Ltd. 

II. Subject Matter and Mode of Cooperation 

Article 2 The parties jointly carry out the Online Personal Loan Business on the principle of complementary advantages, mutual support, honesty and
common development in strict compliance with relevant laws and regulations and regulatory rules. Party A, as the lender, shall extend loans to the Borrower after making credit risk evaluation and Party B shall provide relevant loan service for the
Business to the customers and Party A. 
 Article 3 The basic process of Loan under the Business as agreed by the parties is as below: 

 

	1.	Online loan application: Party B shall take charge of operation work for the customers in the Business. The customers shall apply for the Loan business hereunder through channel and platform provided by Party B.

  
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	2.	Pre-loan information collection and transmission: To the extent permitted by regulatory policies, Party A entrusts Party B to collect and arrange the information fields of
loan applicants as set forth in Appendix 1 hereof by means of platform page interface and other appropriate ways and request customers to sign the credit investigation authorization letter and other legal instruments of credit application, and
transmit the same to Party A on a real-time basis or at the frequency as scheduled, such that Party A may use such information and documents as the basis for reviewing and extending Loan. Party B guarantees that the aforementioned information is
true and accurate. Party A agrees that Party B may, in its own discretion, determine the interactive web page and process of the Loan under the Business cooperation based on the business model and style of “Jiebei”. 

 

	3.	Loan and credit approval: After customer information being transmitted to Party A, Party A shall carry out the credit approval and the Loan-disbursement review by using such information in combination with other
credit basis and materials. Party A shall, within 24 hours after the information is transmitted by Party B, give feedback on result of credit approval to Party B. If an approval on credit, determination of credit limit, disbursement of Loan and
other similar expressions are indicated in the result, Party A shall be deemed as having agreed to sign the Loan Contract online and disburse the Loan to the Borrower. 

If Party A fails to give feedback on approval result to Party B within the specified period of time, or the parties cannot transmit information
or make response due to technical fault in their system and other reasons, Party A shall be deemed as having not approved the credit and disagreed to sign relevant Loan Contract and disburse the Loan. 

 

	4.	Online execution: Party B shall be responsible for informing the customer whose credit application is approved through the platform and instruct such customer to sign the Loan Contract and other related legal
instruments in the form of data message. Party A shall be obligated to disburse the Loan and charge the loan interests according to the Loan Contract, and Party B shall provide the loan-related services to Party A and charge the service fees from
Party A according to the Loan Contract. Party B shall also reserve the right to charge the service fees from the Borrower, and the specific charging rate shall be determined upon negotiation with Party A. 

In order to adapt to the online loan business, without prejudice to the rights and obligations of Party A hereunder, Party A agrees that Party
B shall have the right to directly made amendments to the Loan Contract or other relevant agreements; if Party B amends any terms involving the rights and obligations of Party A, Party B shall send a written notice to Party A 10 natural days prior
to uploading the amended Loan Contract or other agreements online, and Party A shall give Party B its feedback on whether the amendment is acceptable within 5 natural days after receiving such notice. If Party A fails to give any feedback, it shall
be deemed that Party A agrees to the amendment. If Party A refuses to accept the amendment, both parties may negotiate about the amendments and the original contract shall remain unchanged during the negotiation period. If the negotiation fails,
Party A may unilaterally terminate relevant contract or agreement, provided that it shall assume the obligations and liabilities for performance of business that have incurred prior to termination. 

  
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	5.	Loan disbursement review and online disbursement: If the Borrower whose identity is verified by Party B executes the Loan Contract, it shall be deemed that Party A entrusts Party B to give instructions on loan
disbursement. Such instruction irrevocably authorizes E-Commerce Bank and/or Alipay Company to pay the loan funds from the following loan account opened by Party A with
E-Commerce Bank on behalf of Party A to the beneficiary account or the counterparty designated by the Borrower based on the agreed method, unless as otherwise agreed by Party A and Party B. The loan shall be
deemed as disbursed when the loan funds are credited to the bank account designated by the Borrower or the counterparty’s account. Party A agrees that Party B shall be responsible for coordinating and arranging Alipay Company and/or E-Commerce Bank to provide the loan disbursement services, and Party A shall grant relevant authorization to Party B to this end. 

Loan Account 
 Account Bank:
[REDACTED]5 
 Account Name:
[REDACTED]6 
 Account No.:
[REDACTED]7 
 6. Online repayment: Both parties agree that, the Borrower may
repay the principal and interest of the Loan, the liquidated damages and prepayment commission (if any) through Alipay account and other account with the repayment function. E-Commerce Bank and/or Alipay
Company are/is authorized to deduct the Borrower’s repayment and transfer the same to the following beneficiary account opened by Party A with E-Commerce Bank. If
E-Commerce Bank or Alipay system successfully deducts and receives the repaid funds, the repayment time shall be the time when Party B starts the repayment. Party A agrees that Party B shall be responsible for
coordinating and arranging Alipay and/or E-Commerce Bank to provide the repayment collection services, and Party A will give certain authorization to Party B to this end. 

Beneficiary Account 
 Account Bank: [REDACTED]8 
 Account Name: [REDACTED]9 

Account No.: [REDACTED]10 

Party A agrees and authorizes E-Commerce Bank to deduct, after each repayment made by the Borrower, the service
commissions from the loan account or other account opened by Party A with E-Commerce Bank as confirmed by both parties according to Party B’s instruction on a real-time basis. 

 

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 7. Verification of loan disbursement result: Party A agrees to execute the Loan Contract with the Borrower
according to the interest accrual and repayment rules required by Party B, and the timing and status of repayment of the Borrower shall be subject to the time and amount of the repayment fund transmitted by Party B to Party A. Party B shall pass the
loan application, detailed data of loan disbursement, detailed data of loan repayment and contract information data to Party A on a regular basis for the purpose of verification by the parties. The parties agree to deal with the accounting
difference of the last month by means of netting and account balancing at the beginning of each month. The parties shall negotiate with each other in a timely manner to deal with any error or mistake occurring in the course of such netting and
account balancing. Party A shall have the right to re-approve the line of credit granted to the customer based on its own criteria and transmit the credit line adjustment information to Party B in a timely
manner. 
 8. Post-loan management: Except as otherwise agreed hereunder, Party A shall be solely responsible for the post-loan management of the
Loan business contemplated hereunder. To the extent permitted by regulatory policies, Party A may entrust Party B to take charge of post-loan management, provided that Party A shall accept and approve the online management mode and method adopted by
Party B. 
 Party B shall be responsible for coordinating and handling the complaint arising out of the Loan extended to the Borrower hereunder and Party A
shall actively cooperate with Party B in this regard. 
 Article 4 Arrangement of Funds 

 

	1.	The loan funds required for Party A’s business under the Business each day shall be solely and fully provided by Party A. Party A shall otherwise enter into the relevant account service and entrusted collection and
payment agreement in order to secure a smooth development of the Business. 

  

	2.	The parties jointly confirm and agree to authorize Alipay or E-Commerce Bank to pay the loan funds and collect all principal and interest of the Loan repaid by the Borrower,
liquidated damages, prepayment commission (if any) on their behalf. 

 Article 5 Loan Management 

 

	1.	Party B shall provide loan management services to Party A through the platform and provide certain loan-related services to the Borrower under the Business by using its platform in combination with the Internet finance
technology. The specific items of such services include, among others, customer identification, information acquisition, unification of marketing, loan disbursement and repayment services, management of standing book, post-loan collection,
litigation and complaint through personal visit (other than matters to be managed by Party A on its own according to relevant regulatory policies or agreements). Party B shall diligently, independently, fairly, truthfully and completely reflect all
relevant information according to the requirements agreed upon with Party A. Party A may give advice and make comments on the loan management operation and process of the Business based on its own risk control policies. 

  
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	2.	The parties agree that, as to the loan business involved hereunder, Party A shall be responsible for the credit information reporting in accordance with relevant credit investigation laws and regulations and regulatory
rules. If information reported by Party A is inconsistent with repayment status of the Borrower transmitted by Party B, Party A shall solely undertake the responsibility for such inconsistence. Party A shall notify relevant Borrower before reporting
any adverse credit information of such Borrower. 

  

	3.	The parties confirm that Party B may sub-entrust or Party A may directly entrust a third party institution with adequate qualification to collect the non-performing loan involved hereunder. Party A shall otherwise issue an appropriate entrustment document and other necessary materials required for loan management to Party B, so as to facilitate Party B to carry
out the above entrusted matters. If Party A needs to write off the non-performing loan, it may request Party B to provide relevant materials on a legal, reasonable and duty-bound basis. 

 

	4.	Party A shall deal with the cases for which the legal proceedings are required for protection of rights based on the provisions agreed in the Loan Contract and the existing procedures of Party B. Party A may also, at
its own discretion or under recommendation of Party B, choose a law firm and lawsuit response plan at its own cost. Party B shall not assume any legal responsibility for such recommendation and the results of case. 

 

	5.	The specific rate of the loan interests and fees charged by Party A and Party B from the Borrower will be agreed upon in the Loan Contract. 

 

	6.	Party A shall establish the risk control strategy and credit model by itself. If Party A needs to suspend disbursement of any new loan, it shall notify Party B in writing one business day in advance so that Party B may
correspondingly update the strategy of recommending borrowers to Party A. Party A shall guarantee a regular examination and approval of the Loan before the strategy being updated by Party B and shall perform the obligation of loan disbursement with
respect to the loan application made by the Borrower who has obtained the credit approval during the credit effective term. 

  

	7.	If Party A’s account falls short of funds and Party A fails to promptly top up the account within 1 business day, Party B shall have the right to recommend the customers to which Party A has granted credit or
extended Loan to other lending institutions. Party A must ensure a smooth progress of the existing loan business. 

  

	8.	If Party A wishes to early suspend the Business, it shall notify Party B in writing at least 1 month in advance. Party A may suspend the Business after both parties reach consensus through negotiation. Meanwhile, Party
B shall have the right to recommend the customers to which Party A has granted credit or extended Loan to other lending institutions after receiving written notice of business suspension from Party A. Party A must ensure a smooth progress of the
existing loan business. 

  
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 Article 6 System Connection 
  

	1.	Both parties confirm that Party B will send the credit application information of customers to Party A on a real-time basis through system connection, and will also transmit to Party A other business information
occurring from 24:00 pm of the last natural day to 24:00 pm of the transmission day at a regular time of each day, including, without limitation, information of Loan Contract, details of Loan (including details of loan disbursement, details of loan
collection and information of repayment schedule) and detailed data of funds account. If any information transmission failure occurs, Party B shall promptly notify Party A and otherwise back up relevant information and transmit the same to Party A
in a timely manner after the system resumes normal functioning. 

 If required by customers, Party B shall mark the special
details or requirements of the Loan (including, without limitation, interest payment certificate of the customer, settlement certificate and etc.) in the manner agreed by the parties and transmit the same to Party A. Party A shall deal with the
aforementioned request of customers within 3 business days by itself. If any customer complains about Party B due to reasons attributable to Party A, Party A shall be responsible for coordinating and dealing with such complaint. 

 

	2.	Both parties agree that, if each Loan under the Business has any accounting difference, the parties shall jointly verify and deal with the accounting difference. The loan principle, interest rate, interest, loan
disbursement time, repayment amount and repayment time shall be subject to the data information recorded by Party B. As to any data cannot be provided by Party B on its own, Party B shall be responsible for coordinating E-Commerce Bank and Alipay to provide such data and make reconciliation. 

  

	3.	For the purpose of the Business, Party A and Party B shall endeavor to achieve disbursement and collection of each Loan on a case by case basis through their system. Both parties shall maintain and keep the function
stability, interface success and data safety of their own system. If either party needs to suspend its system under any special circumstance, it shall notify the other party 1 business day in advance. 

III. Profit Sharing 
 Article 7 Both
parties agree that, if Party B has not charged any fees from the Borrower, the interest accrued on each Loan disbursed to the Borrower shall be determined by Party A at its own discretion on the principle of legality, rationality, autonomy and
voluntariness, provided that, for the sake of commercial fairness, the interest rate set by Party A shall be kept within a certain price range which shall be notified by Party B to Party A from time to time based on the development status of
platform business, business strategy, operation plan and etc. 
 If Party B starts to charge fees from the Borrower, the interest accrued on the Loan
disbursed to the Borrower shall be jointly determined by the parties, except as otherwise agreed hereunder. 
 Party A shall pay service fees to Party B
according to this Agreement, regardless of whether Party B has charged any fee from the Borrower. 

  
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 Article 8 The charging method and specific rates of loan interest, service fees and other fees charged in
the Business are as follows: 
  

	1.	The initial daily interest rate of the normal interest charged by Party A from the Borrower shall fluctuate between [REDACTED]11% (included) and [REDACTED]12% (included). Any interest rate lower or higher than the aforementioned range shall be subject to approval of Party B. 

Any actual daily interest rate going beyond the aforementioned fluctuation range due to discount of interest rate or preferential interest
shall be subject to approval of Party B. 
  

	2.	The default interest rate charged by Party A against any overdue loan shall be equal to the initial daily interest rate of the Loan plus [REDACTED]13%. If Party A
intends to charge other fees, it shall first obtain the consent of Party B and the fees so charged shall not exceed the reasonable range required under relevant laws. 

 

	3.	[REDACTED]14% of the amount of the interests (including the default interests) actually repaid by the Borrower to Party A for each installment of the Loan shall be
taken as the service fees payable to Party B, which shall be charged from the account opened by Party A with Party B as confirmed by the parties at the time when the customer makes repayment of the Loan. The specific information of the bank account
are as follows: 

 Account Bank: [REDACTED]15 

Account Name: [REDACTED]16 

Account No.: [REDACTED]17 

The order of priority in repayment of the Loan shall be subject to relevant provisions set forth in the Loan Contract. Party B shall issue
the eligible VAT invoice to Party A on a regular basis. 
  

	4.	Notwithstanding the aforementioned provisions, Party B shall have the right to negotiate with Party A about adjustment to the specific rates listed above if and when policies, market and overall political or economic
environment change in any way. 

  

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	5.	Party A acknowledges and approves that the services provided by Party B to Party A is partially dependent on the technical capacity and services provided by other parties (Zhima Credit) to Party B; if Party A wishes to
customize any services provided by other parties to meet the needs of the Business, Party B may coordinate with other parties on behalf of Party A. Any relevant fees to be paid to such other parties shall not be included in the service fees payable
to Party B and shall be otherwise negotiated and determined by them. 

  

	6.	The parties shall respectively pay the taxes imposed on their own revenues according to relevant laws and regulations. 

IV. Rights and Obligations of the Parties 

Article 9 Except as otherwise agreed under this Agreement, the rights and obligations of Party A shall include the following items: 

 

	1.	Party A shall independently and autonomously confirm the types of information to be collected and the requirements thereof, shall carry out comprehensive credit risk evaluation of the loan application materials and
other information submitted by the Borrower, and shall be solely responsible for the credit granting results, default risk of the Loan and loss of the loan funds; 

 

	2.	Party A, as a lender disbursing the Loan to the Borrower according to the Loan Contract, shall guarantee that there are sufficient funds in the loan account and shall timely cooperate with other parties to make
settlement of the account funds; If Party A intends to suspend or postpone the disbursement of the Loan, it shall obtain the consent of Party B 1 business day in advance and shall concurrently cooperate with Party B to notify relevant Borrower. If
the Party A fails to reach consensus with Party B and the Loan cannot be disbursed due to insufficient funds in the loan account or temporary adjustment to credit-related policies, Party A shall assume the liability for breach of this Agreement;

  

	3.	Party A shall have the right to obtain the interest and the default interest of the Loan paid by the Borrower and collect the principal of the Loan and other receivable profits agreed in this Agreement or the Loan
Contract; 

  

	4.	Upon the request of the Borrower, Party A shall provide the interest receipt, settlement certificate and all other kinds of certificates that should be issued by it as a lender to the Borrower, and shall timely deliver
the same to the Borrower by all means. If the aforementioned certificates are delayed or cannot be delivered, Party A shall be held accountable for such delay or failure of delivery; 

 

	5.	Party A shall, according to Party B’s requirements, timely provide Party B with the reasons (please classify the reasons according to Appendix 2 hereof) for refusal to grant credit or extend Loan to the customer;

  
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	6.	Party A shall not make by itself, or authorize other persons to make, any initiative marketing of all kinds of financial products or services, by taking advantage of the information of the Loan applicant and the
Borrower that are acquired in the Business cooperation; 

  

	7.	Without Party B’s consent, Party A shall not use this cooperation opportunity to obtain any information from Party B’s system by duplication, screen shot, downloading, using crawler tool, film, transcription
or other possible means; 

  

	8.	Party A acknowledges that, Party B shall have the right to prepare and carry out relevant Jiebei operation activities by itself based on the actual situations of the platform business, except for the activities that
requires expenditures by Party A. Party A may negotiate with Party B if Party A disagrees with the way of operation or the content of activities. If negotiation fails, Party A may withdraw from such activities till the termination of this Agreement;

  

	9.	Party A understands and believes in the rights and abilities of Party B as a service provider. In order to avoid any business failure caused by confusion in instruction, Party A shall not instruct the fund processing
parties (including, without limitation, Alipay and E-Commerce Bank) involved in the Business to disburse or deduct the Loan, nor shall it confirm the status of the Loan with the Borrower, without the written
consent of Party B; 

  

	10.	Party A shall have the service capability to receive the telephone consulting made by the Borrower, but shall not undertake the responsibility for repayment of the Loan and operation of other specific businesses;

  

	11.	Other obligations to be assumed by Party A depending on the needs of the Business. 

 Article 10 Except
as otherwise agreed under this Agreement, the rights and obligations of Party B shall include the following items: 
  

	1.	Party B shall use the Internet finance technology to make customer identification, decide whether the Borrower is qualified to use the services provided on Jiebei platform and provide relevant loan management services
to the customers who meet the platform service access standards. Party B shall, based on Party A’s requirements, collect and transmit the information data of the individual customer who is recommended to Party A through the system and
truthfully transmit the same to Party A; 

  

	2.	Party B shall have the right to determine, at its own discretion, the frequency of recommending borrowers to Party A and the loan applicant candidate recommended to Party A based on its own technology and model, which
is approved and accepted by Party A. To the extent permitted by actual situations, Party B may also accept the customized borrower recommendation model of Party A and make directional recommendations according to the loan recommendation rules
arranged by Party A. A borrower recommendation shall not be construed as a manifestation of intention of Party B to provide guarantee in favor of the Borrower to Party A based on such borrower recommendation rules, regardless of the types of
borrower recommendation models. Party A acknowledges that Party B may carry out similar business cooperation as those contemplated hereunder with other institutions to meet the needs of platform business; 

  
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	3.	Party B shall be responsible for driving the funding system of the disbursement and repayment/deduction under the Business and coordinating the interested parties to join in the profit distribution and liquidation as
agreed under this Agreement; If Party B finds any circumstance that is unsuitable for disbursement of the Loan, it shall promptly notify the lender and have the right to suspend disbursement of the Loan until the lender’s confirmation is
obtained, and will not be held accountable for such suspension; 

  

	4.	Party B shall provide relevant consulting services for the design, development and maintenance of its own part of the connection system involved in the Business; 

 

	5.	Party B shall legally preserve and use the user data and relevant information and provide relevant information and materials according to laws, regulations and requirements of regulatory authorities; 

 

	6.	Party B shall have the right to charge service fees from Party A and guarantee the balance of relevant account being sufficient for deduction of service fees. In the case of any insufficiency, Party B authorizes E-Commerce Bank to deduct the insufficient part from other account of Party A according to Party B’s instruction. 

  

	7.	Party B shall set up the prematurity repayment reminder based on the repayment schedule of Party A’s customer. Party B shall first reach the customer by online system reminder and then send repayment reminder to
certain specific customer through short messages based on actual situations; 

  

	8.	Party B shall not be responsible for overdue repayment or default committed by the Borrower and other loan-related risks under the Business, nor shall it make any guarantee, commitment and other similar manifestation of
intention with respect to the aforementioned Loan; 

  

	9.	If Alipay account is stolen due to any fault not attributable to the Borrower and a loss of the Loan principal is thereby caused, Party B shall bear such loss (whether the account is stolen shall be determined by Party
B). After Party B bears the aforementioned loss to Party A, it shall have the right of subrogation to claim against the debtor. If the debtor subsequently makes repayment, the repaid amounts shall be owned by Party B, to which Party A shall not be
entitled in any way; 

  

	10.	Party A shall provide reasonable assistance to Party B when Party B asserts claims against the debtor after it bears the aforementioned loss to Party A, including, without limitation, during the collection of debts,
filing a lawsuit or other similar legal proceedings. 

  
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 V. Intellectual Property and Confidentiality Requirements 

Article 11 Ownership of Proprietary Data and Information 

The parties irrevocably agree that, all information and data provided by Party B to Party A under the Business in relation to the proprietary data and
information of Party B and its affiliates (including, without limitation, technology information, operational information, know-how, business model, business plan, financial budget and model, computer program,
source code, algorithm and etc., the same below) shall be owned by Party B and its affiliates; If any data and information provided by Party A to Party B involve the proprietary data and information of Party A, such data and information shall be
owned by Party A. Nothing in this Agreement is intended to transfer the ownership of any proprietary data and information. 
 Neither party shall provide
the proprietary data and information provided by the other party to a third party irrelevant to the Business, otherwise, such party shall be held accountable for any loss so caused to the other party of this Agreement. 

If, subject to relevant laws, regulations and requirements of regulatory or judicial authorities, a party is required to disclose all or a part of the
proprietary data and information provided by the other party, then the disclosing party shall notify the other party within a reasonable period of time prior to the disclosure or submission of information and shall make best efforts to cause the
receiving party afford confidential treatment of the information so disclosed or submitted. 
 Article 12 This Agreement merely represents the
consensus reached by the parties in respect of the Business cooperation. Without the written consent of the other party, neither party shall disclose the content of this Agreement to any third party, except as otherwise provided for under relevant
laws and regulations. 
 VI. Cooperation Mechanism 

Article 13 The parties shall establish the regular negotiation mechanism to promote the development of the Business, examine the performance of this
Agreement, resolve any major problems occurring in the cooperation through negotiation and enhance the substantive cooperation between the parties. 

VII. Liabilities for Default 
 Article 14 A
partial or delayed performance of any obligation hereunder by any party hereof shall constitute a default of this Agreement, and the defaulting party shall assume the liabilities for default if its default causes a loss to the other party. 

In particular, if Party A makes by itself, or authorizes other persons to make, the initiative marketing of all kinds of financial products or
services, by taking advantage of the information of the Loan applicant and the Borrower that are acquired in the Business cooperation, Party B shall have the right to request Party A to be liable for the liquidated damages. 

  
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 VIII. Disclaimer and Troubleshooting 

Article 15 If any party fails to perform or delays the performance of its obligations under this Agreement due to occurrence of any force majeure
event, such party shall not assume any liability for the failure or delay in performance of any of its obligations hereunder, provided that the parties shall be obligated to take reasonable and practical measures to continue performing this
Agreement. 
 If Party B cannot provide the services contemplated hereunder to Party A due to any of the following circumstances, Party B shall not assume
any liability for default or any compensation liability. Such circumstances shall include but not limited to: shutdown of Party B’ system for maintenance or update; typhoon, earthquake, flood, lightening or terrorist attack; computer software
and hardware, telecommunication line and power supply line of Party A break down; Party A is involved in inappropriate operation or uses the services hereunder in a way not authorized or accepted by Party B; virus, Trojan, Malware attack, network
congestion, system instability, system or equipment failure, communication failure, electricity interruption, reasons not attributable to the parties hereof, defect of services provided by third parties, act of government and other reasons. 

Notwithstanding the aforementioned provisions, Party B shall take reasonable actions to actively resume normal services. If, during the effective term of this
Agreement, Party B fails to provide the services contemplated hereunder due to any laws and regulations or any normative documents or policies promulgated or amended by relevant competent authorities of the state (including non-written instruction given by relevant competent authorities), Party B shall not be deemed as having breached this Agreement and the parties hereof may amend the specific provisions contained in this Agreement or
early terminate this Agreement in accordance with relevant decree or policies, provided that they shall ensure to wind up the existing Business in a steady and smooth way. 

Party A understands that the services contemplated hereunder are dependent on the accurate running and operation of Party B’s system. If any error or
failure of Party B’s system or other reasons cause erroneous display or unjustified enrichment of Party A or Party B, Party A agrees that Party B may, by itself or through a third party (including, without limitation, Alipay Company or E-Commerce Bank), take appropriate corrective actions, such as correct errors, deduct relevant amounts or suspend services. 

IX. Dispute Resolution 
 Article 16
The parties agree that any disputed matter occurring in the course of their cooperation shall be resolved through amiable negotiation. As to any matter that cannot be resolved through negotiation, either party may initiate a lawsuit to the court of
the place where the defendant domiciles. 
 X. Miscellaneous 

Article 17 If the cooperation between the parties is affected due to any adjustment to relevant laws, regulations or macroeconomic policies of the
state, the parties shall resolve the problem through amiable negotiation and duly make amendment to relevant provisions of this Agreement; 

  
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 Article 18 As to any matter not mentioned hereunder, the parties shall execute written supplementary
agreement or appendix upon negotiation. The supplementary agreement and appendix shall have the same legal effect as this Agreement; 
 Article 19
Upon the written consent of the other party, a party shall have the right to transfer its obligations and rights hereunder to a third party, in whole or in part. Either party may notify the other party 30 natural days in advance on termination of
the Business cooperation agreed under this Agreement. 
 Article 20 This Agreement shall be executed in four counterparts, and Party A and Party B
shall each hold two counterparts; 
 Article 21 This Agreement shall take effect as of the date when both parties affix their common seals hereon.
The effective term of this Agreement shall be 1 year, which may be extended for 1 year prior to expiration thereof after the parties reach a consensus and make written confirmation in this regard. 

Party A (seal): 
 (Seal of
Ganzhou Happy Life Network Microcredit Co., Ltd.) 

Date:                 

Party B (seal): 
 (Seal of
Chongqing Alibaba Small Loans Co., Ltd.) 
 Date: March 27, 2017 

  
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 Appendix 1: 

Information Collection Table of Loan Applicants 
  

			
	 No.
	  	 Types of Information Fields

	1	  	Educational Background
	2	  	Income
	3	  	Address
	4	  	Name of Contact Person
	5	  	Relationship with Contact Person
	6	  	Telephone No. of Contact Person

 Note: The aforementioned information collection made by Party A shall abide by the principle of legality and rationality. 

Appendix 2: 
 List of Reasons for Rejection on
Loan Application 
  

			
	 No.
	  	 Reasons

	1	  	Overdue repayment as shown in the credit report system of the People’s Bank of China
	2	  	Sufficient information contained in the credit report system of the People’s Bank of China
	3	  	Blacklist of institutions
	4	  	Poor stability
	5	  	Falsified information
	6	  	Others (to be determined by the lending institution)

  
 15EX-10.32

 Exhibit 10.32 

Amended and Restated Alipay APP Access Agreement 

Party A I: Beijing Happy Time Technology Development Co., Ltd. 

Contact Address: 15/F, 222 Huizhongbei Lane, Chaoyang District, Beijing 

Contacts: [REDACTED]1          Contact Method:
[REDACTED]2 
 Postal Code:100012 

Designated website: www.qudian.com 
 Party A II:
Ganzhou Happy Life Network Microcredit Co., Ltd. 
 Contact Address: 15/F, 222 Huizhongbei Lane, Chaoyang District, Beijing 

Contacts: [REDACTED]3          Contact Method:
[REDACTED]4 
 Postal Code:100012 

Designated website: www.qudian.com 
 Party A III:
Fuzhou High-tech Zone Microcredit Co., Ltd. 
 Contact Address: 15/F, 222 Huizhongbei Lane, Chaoyang District, Beijing 

Contacts: [REDACTED]5          Contact Method:
[REDACTED]6 
 Postal Code: 100012 

Designated website: www.qudian.com 
 Party A IV:
Ganzhou Happy Fenqi Network Service Co., Ltd. 
 Contact Address: 15/F, 222 Huizhongbei Lane, Chaoyang District, Beijing 

Contacts: [REDACTED]7          Contact Method:
[REDACTED]8 
 Postal Code: 100012 

Designated website: www.qudian.com 
 Party A V:
Xinjiang Qudian Technology Co., Ltd. 
 Contact Address: 15/F, 222 Huizhongbei Lane, Chaoyang District, Beijing 

Contacts: [REDACTED]9          Contact Method:
[REDACTED]10 
 Postal Code: 100012 

Designated website: www.qudian.com 
  

 

	1 	Confidential treatment requested 

	2 	Confidential treatment requested 

	3 	Confidential treatment requested 

	4 	Confidential treatment requested 

	5 	Confidential treatment requested 

	6 	Confidential treatment requested 

	7 	Confidential treatment requested 

	8 	Confidential treatment requested 

	9 	Confidential treatment requested 

	10 	Confidential treatment requested 

  
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 Party A VI: Xiamen Qudian Technology Co., Ltd. 

Contact Address: 15/F, 222 Huizhongbei Lane, Chaoyang District, Beijing 

Contacts: [REDACTED]11          Contact Method:
[REDACTED]12 
 Postal Code: 100012 

Designated website: www.qudian.com 
 Party B: Alipay
(China) Internet Technology Co., Ltd. 
 Contact Address: Block B, Huanglong Times Square, 18 Wantang Road, Hangzhou (forwarded to Party B) 

Party A I, Party A II, Party A III, Party A IV, Party A V and Party A VI are internet platform service companies specializing in small loans and merchandise
installment, which provide installment experience with technology at its core, customer risk assessment, order management and customer support services. Party A I, Party A II, Party A III, Party A IV, Party A V and Party A VI shall be collectively
referred to as “Party A” in this Agreement. 
 Party B is a leading third-party payment platform in China, which operates Alipay mobile client,
that is, Alipay APP, and constantly expands its service settings to provide more services to customers. 
 In order to provide customers with a more
convenient and richer experience, Party A and Party B, through friendly consultation, entered into Alipay APP Access Agreement on March 15, 2016 (“Original Agreement”). 

Party A and Party B decide to amend and restate the Original Agreement and enter into this Amended and Restated Alipay APP Access Agreement (“this
Agreement”) to replace the Original Agreement. 
 Through friendly consultation, Party A and Party B decide to establish a relationship of business
cooperation and agree as follows: 
 I. Contents of Cooperation 

As the groups Party A and B affiliated with jointly founded and invested in QuCampus to develop its campus life business (“Campus Collaboration”),
and other collaborations Party A and Party B may from time to time enter into, Party B agrees to provide Party A with user traffic access, and open “Laifenqi” module under the “third party services” section in the Alipay mobile
client, and after clicking on the module, users will be directed to Party A’s website, and then the users may select small loan and merchandise installment services on Party A’s website. 

 

	11 	Confidential treatment requested 

	12 	Confidential treatment requested 

  
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 II. Rights and Obligations of the Parties 

2.1 Party A’s rights and obligations 
 2.1.1 Party A shall
warrant that it has relevant qualifications to engage in the contents of its website, which qualifications continue to be valid during the term of this Agreement, including but not limited to ICP certificate, network culture operating permit and all
other qualifications and certificates as Party A requires to conduct such business, and provides Party B with identification 
 information, operating
content and other information. If some operating content of Party A requires administrative pre-approval, Party A must provide Party B with such already pre-approved
documents, and within three working days after a change to the aforesaid information, Party A shall notify Party B in writing of such change. Where the aforesaid information is inaccurate, untrue, not timely or incomplete (including but not limited
to sending invoice to a wrong address, inability to contact resulting in failure to develop business), Party A shall take full responsibility. If Party A does not have all of the qualifications required for its operations, thereby resulting in
losses to Party B, Party B is entitled to recover all of the losses from Party A, and is entitled to terminate contracts signed by Party A and Party B, and all losses resulting from termination of the agreements shall be borne by Party A. 

2.1.2 Party A shall develop a safety program that can effectively connect with the “Alipay” software system. The interface provided by Party B to
Party A is only to be used for cooperation under this Agreement, and Party A may not give such interface to any other third party for use or use such interface outside the scope of this Agreement, or use such interface for any illegal purpose. 

2.1.3 Party A is responsible for building and developing the framework and content of Party A’s website, and for providing 24/7 (24 hours a day, 7 days a
week) daily operations maintenance and customer service to ensure stable operation of the website. 
 2.1.4 Party A’s website is only to provide users
with small loan and merchandise installment platform website services. Services provided by Party A shall meet the following requirements: 
 1) Such
service should be true, lawful, accurate and complete, and Party A shall not provide or publish false information or pretend to be another or make use of another’s name to publish information. 

2) Such service does not infringe upon lawful rights or interests enjoyed by any third party, including but not limited to the right of reputation, the right
of publicity, intellectual property, trade secrets, and personal privacy; 
 3) Such service does not violate any laws, regulations, stipulations or rules
as well as relevant industry provisions and does not contain any content that violates national laws, endangers national security and unity, social stability, public order and good customs and social morality or involves obscene, pornographic,
unethical, fraudulent, defamatory (including commercial defamation), unlawfully intimidating or illegally harassing content. 
 4) Such service does not
contain any type of malicious computer program or virus; may not disrupt or attempt to disrupt the normal operations of the Alipay APP, other service provider’s services or any portion or function thereof. 

5) Such services shall not be directly or indirectly linked to the following contents: (i) commodities or services prohibited by any laws, regulations,
stipulations or rules; or (ii) commodities or services with which such service is not allowed to be linked. 
 6) Party A shall not use Party B’s
relevant data (including but not limited to any user information, user transaction information, users’ product usage data as to Party A’s products, Alipay member data, interface materials and rates relating to Alipay’s interface) of
obtained by Party A through Party B’s technology interface, public channels and based on the cooperation hereunder for any purposes other than those of this Agreement; shall not illegally obtain information about Alipay members for transactions
or illegal interests; shall not use relevant permissions of other service providers to obtain the data about users or Alipay members, or otherwise Party B is entitled to terminate this service in advance, and at the same time, Party A shall assume
liability for breach of contract and other legal liabilities, and shall make full compensation for all losses sustained by Party B and the users.     

  
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 7) Party A shall not request, collect, ask for or otherwise obtain from any user the right to access Alipay user
names, passwords or other identity-verifying evidence; shall not automatically log in to Alipay for any user to provide identity-verifying evidence to agents; shall not provide “tracking” function, including but not limited to identifying
users as they view or operate the pages of other service providers. 
 8) Without Party B’s written permission, Party A may not imply that Party B
joins, sponsors or recognizes Party A’s services, including but not limited to using “Alibaba”, “Ant Financial”, “Alipay”, “Ali”,

 or any variant, abbreviation or misspelling of the name of Alipay or its affiliates in Party A’s services. 
 9) Party A
shall not use plug-ins, external devices or other third party tools, operating platform or any service to access to this service and relevant systems. 

10) Party A shall not develop or publish relevant methods and tools relating to the aforesaid conduct or operate or disseminate such methods and tools,
regardless of whether such conduct is engaged in for commercial purposes; 
 11) Party A shall not make use of the Alipay APP to engage in any conduct that
violates applicable laws and regulations, infringes upon the lawful rights and interests of other users, disrupts the normal operation of Alipay or that is not expressly authorized by Party B. 

2.1.5 In addition to providing small loan and merchandise installment platform website services, if Party A needs to add other services, such services shall
comply with relevant provisions of applicable laws and regulations, have corresponding qualifications, notify Party B ten working days in advance and must be approved by Party B in writing. If Party A operates beyond its business scope, Party B is
entitled to order Party A to undertake remedial measures, and Party A shall immediately undertake remedial measures as of the date it receives such notice from Party B, or otherwise Party B is entitled to stop and close channel access or take other
measures, and all losses resulting from aforesaid measures taken by Party B shall be borne by Party A. 
 2.1.6 Party A shall perfect and improve business
content, provide customers with rich business resources, and Party A shall supervise content provided by parties other than Party A, and warrant that it will not violate laws and regulations, infringe upon the rights and interests of any third party
or involve any current political news content. Upon finding any of the aforesaid circumstances, Party A shall timely undertake remedial measures, including but not limited to removing illegal content, broken links, etc. 

2.1.7 Party A shall notify users on Party A’s website that they may enjoy the services provided by Party A within the Alipay APP, but Party A may not
carry out any exaggerated or false propaganda. 
 2.1.8 All disputes arising from users’ use of the services provided by Party A shall be resolved by
Party A and the users, and Party B does not assume any responsibility. 
 2.1.9 Party A covenants to actively cooperate with functional development of the
Alipay APP to support the development of Party B’s business. 
 2.1.10 Operating data obtained by Party A through this service (including but not
limited to users’ usage data as to services provided by service providers) shall be timely provided to Party B and as requested by Party B, and without Party B’s prior written consent, Party A may not save, use or authorize others to use
said data for purposes outside of this Agreement without authorization. 

  
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 2.2 Party B’s rights and obligations 

2.2.1 Party B is responsible for providing Party A with interface plug-ins for the platform and technical development
documents and materials, and provide the testing environment and necessary subsequent technical support required by the development stage of such cooperative business to ensure that Party A has proper access to Party B’s system. If the Alipay
APP is updated to a new version, Party A needs to commission Party A’s terminal to adapt to the Alipay APP at the same time. 
 2.2.2 Under the
following circumstances, Party B is entitled to require Party A to correct relevant content at any time or directly block Party A’s website or take other emergency measures after notifying Party A, and impose restrictive measures including but
not limited to interrupting the interface on Party A’s website depending on the severity of said behavior, and if such measures cause users to be unable to use or unable to normally use the platform, any resulting liability shall be borne by
Party A alone, provided that such conduct by Party B shall not deem Party B as having any statutory or agreed obligation to review the information released by Party B on Party A’s website, regardless of whether Party B engages in such conduct
or not, Party B is not liable. 
 1) Where it is found or upon receipt of another’s report/complaint that Party A has engaged in any conduct in
violation of this Agreement or tips or rules on Alipay’s page; 
 2) Where it is found or upon receipt of another’s report/complaint that Party A
is suspected of having committed an illegal act or having infringed upon the legitimate rights and interests of a third party, etc.; 
 3) Party B is
entitled to inspect the data and transaction steps of Party A and the users, and finds that there is any issue or reasonable doubt about the data or transaction steps. 

2.2.3 Party B is responsible for handling complaints involving issues of the “Alipay” software system itself and resolving the disputes arising
therefrom. 
 2.2.4 Party B is entitled to adjust the content of “third party services” module based on business development needs, and Party A
has no right to intervene or raise any objection. 
 2.2.5 Party B is entitled to suspend or terminate the interface provided by Party B based on a
requirement of a regulatory department or judicial organ and requirements for risk prevention and control, provided that Party B shall timely notify Party A. 

2.2.6 Where Party A carries out marketing activity, upon application by Party A, Party B may provide Party A with certain resources and support, with the
specific form thereof to be otherwise agreed and confirmed by the Parties. 
 III. Joint Responsibilities of the Parties 

3.1 Party A and Party B shall, in accordance with the program and interface format, complete their respective work within the specified time to ensure the
normal opening of the business. 
 3.2 Party A and Party B jointly warrant that the connection technology and related software adopted by either party will
not affect the system security of the other Party. 
 3.3 Party A and Party B jointly warrant that the Parties’ systems are smoothly connected and the
systems are running properly and correctly. 
 3.4 Party A and Party B shall keep confidential the information transmitted by the system, and may not
divulge such information. 

  
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 3.5 Party A and Party B shall keep confidential the contents of this Agreement and cooperative projects, and may
not divulge such information. All conduct of Party A and its affiliates shall be based on protecting Party B’s reputation and interests, and may not harm the reputation and interests of Party B. 

3.6 Each of the Parties respectively covenant that its performance of this Agreement will not violate any agreement signed or to be signed by it and any third
party, will not cause the rights of any third party to be infringed, and will not violate any applicable laws, regulations and departmental rules, etc. 

IV. Costs 
 1. Party B agrees to provide Party A with
supporting capabilities of the Alipay mobile client application platform, to finally enable users to enter Party A’s application on the Alipay mobile client, and Party B is entitled to charge software service fees in respect of the aforesaid
services provided. 
 1.1 Principle for fees calculation: Based on the principle of open, fair and equitable, the software service fees that Party B charges
Party A should be consistent with the fees as to calculation methods and rules that apply to the software service fees that Party B charges partners similar to Party A on the Alipay app. Party B will update Party A in written notice regarding the
calculation method of the service fees from time to time during the period of this Agreement. 
 1.2 Party B will issue to Party A a bill for software
service fees receivable from Party A for the previous month in writing or through email at the beginning of each month, to check Party A’s software service fees receivable by Party B for the previous month. Party A shall, within five working
days of receiving the bill as to service fees from Party B, give feedback about the results of the check to Party B in writing or through email, and if any dispute arises between the Parties, the standards recorded in Party B’s system shall
prevail. Party A shall, within five working days after confirming no objection in its feedback on the reconciliation, remit the service fees in full to Party B’s receiving account. Party B shall, within five working days of receiving the
service fees in full, issue to Party A an invoice for the software service fees in the same amount as confirmed by the Parties. If Party A fails to make payment within ten working days after having no objection in its feedback on the reconciliation,
Party B is entitled to deduct the payment in the equivalent amount from Party A’s transaction account and provide Party A with list of deductions or suspend provision of corresponding services. 

Or 
 Where Party A fails to make payment within ten working days
after having no objection in its feedback on the reconciliation, Party B is entitled to receive interest as liquidated damages based on the bank rate during the period, and in accordance with the amount of accounts receivable and number overdue
days, and suspend provision of corresponding services. 
 Bank Account No.: [REDACTED]13 

Depository Bank: [REDACTED]14 

Account Name: [REDACTED]15 

 

	13 	Confidential treatment requested 

	14 	Confidential treatment requested 

	15 	Confidential treatment requested 

  
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 2. Party B provides payment services to Party A, and is entitled to charge payment software service fees to
Party A, which are subject to the Alipay Service Agreement signed by Party A and Party B. 
 V. Confidentiality Clause 

5.1 Any Party (“Recipient”) is obligated to keep confidential the contents of this Agreement and trade secrets and technical secrets of the other
Party (“the Disclosing Party”) obtained by the Recipient during performance hereof, including but not limited to the content of this Agreement and any supplementary agreement, other documents and materials arising during the cooperation
process, the documents and materials of the Disclosing Party or its affiliates, information about registered member and financial information, technical information, operating information, customer information, etc. The Recipient shall not disclose
the contents of this Agreement and the trade secrets and technical secrets of the Disclosing Party known to the Recipient to or otherwise notify any party other than the Parties hereto of said content and secrets or use said content and secrets for
any other purpose other than performing this Agreement, except for disclosure required by applicable laws, regulations or other administrative rules, court, government department or securities exchange and other competent authorities; if disclosure
is required to be made due to a reason other than the foregoing, the Recipient shall notify the Disclosing Party of such disclosure in writing at least one working day in advance, providing the Disclosing Party with a reasonable opportunity to
express an opinion on the content intended to be disclosed and enabling the Disclosing Party to seek a protective order or to prevent such disclosure, and the Parties shall jointly endeavor, without violating laws and regulations, to avoid or reduce
losses or the adverse impact resulting disclosure of such information as much as possible. The Recipient shall limit disclosure only to the minimum scope required by such order or relevant provisions, and shall make truthful disclosure, and may not
make false or misleading disclosure, and the Recipient shall use its best efforts to ensure that the recipient of the information so disclosed keeps such information strictly confidential. Unless the written effective order of the court or
government department makes clear the contents required to be disclosed and such written order has been produced by the Recipient to the Disclosing Party, other contents to be disclosed shall not be disclosed unless recognized by the Parties in
writing. In particular, the circumstance under which Party B may disclose information as published by Party B in accordance with its website and as provided for in the Alipay Service Agreement signed by Party B and Party A and published on Party
B’s website is not bound by the confidentiality provisions of this Agreement. 
 5.2 The Parties shall take all reasonable necessary steps to ensure
they (and their respective employees) abide by the aforesaid provisions so as to prevent all information received by them from being disseminated, transmitted, disclosed to, reproduced, abused or accessed by unrelated personnel. The Parties shall
take reasonable precautions to protect confidential information, and such precautions shall be at least as material as the measures adopted for its own confidential information, provided that they shall not be less than reasonable attention. 

5.3 Before and after this Agreement is established, without a Party’s written consent, the other Party may not hold a press conference to disclose or
otherwise disclose that the Parties are cooperating and the content discussed. 
 5.4 These confidentiality provisions are valid from the date of signing
hereof until three years after the expiration hereof. Party A and Party B covenant to continue to assume the obligation of confidentiality under these provisions upon termination hereof. Party A and Party B are entitled to demand damages from the
other Party for all losses caused by such Party’s intentional or negligent disclosure of trade secrets or technical secrets. 

  
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 5.5 Party A covenants to strictly comply with these confidentiality provisions, and if Party B finds that Party A
and its affiliates have breached the confidentiality provisions in any way, Party A shall pay to Party B RMB[REDACTED]16 as liquidated damages. 

VI. Intellectual Property Rights 
 6.1 Party B and its
affiliates have all rights in respect of the content of their self-owned services in this Agreement. During the period of cooperation between Party A and Party B, Party A may not avail itself of any right or issue any challenge, revocation,
objection or refusal against any intellectual property right of Party B or its interested right holder. Where Party A needs to use or display a trademark, mark, product or service name, logo and other intellectual property rights of Party B or its
interested right holder during the course of operating activities, the Parties shall otherwise negotiate and sign a related contract. Except in the aforesaid circumstance, Party B does not confer upon Party A any express or implied license of
intellectual property rights or transfer of rights in this Agreement. Where Party A needs a license for the intellectual property rights of Party B or its interested right holder, it needs to sign another license contract or authorization document.
If Party A uses the intellectual property rights of Party B or its interested right holder without Party B’s authorization or violates the guidance of Party B or its interested right holder during use, thereby resulting in an adverse impact
upon Party B or its interested right holder, Party B is entitled to require Party A to undertake remedial measures within a prescribed time limit, and if Party A fails to so do, Party B is entitled to immediately terminate all of the contracts
signed by Party A and Party B, and said failure shall constitute Party A’s breach and grounds for termination of contract. If such conduct results in losses to Party B or its interested right holder, Party A shall be liable for corresponding
damages to Party B or its interested right holder. 
 6.2 Party A and its affiliates have all rights in respect of the content of their self-owned services
in this Agreement. During the period of cooperation between Party A and Party B, for purposes of this Agreement, Party B may make reasonable use of relevant intellectual property rights of Party A, including but not limited to trademarks, marks,
product or service names, logos and other intellectual property rights, provided that without Party A’s authorization, Party B may not use Party A’s intellectual property rights for purposes other than those of this Agreement. 

6.3 Unless otherwise agreed by the Parties in writing, Party B will hold any invention, technical improvement, product, service, technology, information,
promotional and publicity materials, advertisement design, data and other intellectual property rights deriving from this Agreement, including text, software, videos, pictures, movies, patterns, graphics, layouts, designs, advertising and
promotional materials, all data and so on resulting from performance of any duty hereunder. 
 6.4 Party A agrees to transmit all ads, promotional or
publicity materials containing intellectual property rights of Party B or its interested right holder or any layout or design, including those for online or offline use, to Party B for review and approval, and then file and use them to perform its
obligations hereunder. Use of all aforesaid materials shall be limited to performing only the content of this Agreement. Unless otherwise stated herein, Party A agrees not to transfer, reproduce, alter, change, rewrite or further create products
deriving from the approved materials without Party B’s consent. 
  

 

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 VII. Termination of Contract 

7.1 Under any of the following circumstances, the non-breaching Party is entitled to immediately terminate this
Agreement. 
 7.1.1 Where one Party fails to perform relevant services in accordance with this Agreement, and fails to undertake remedial measures within
fifteen days of receipt of written notice from the other Party. 
 7.1.2 Where one Party is in severe breach of this Agreement, thereby frustrating the
purpose of this Agreement; 
 7.2 During the period of this Agreement, Party B has the right to adjust or terminate the “Laifenqi” module volume
interface provided under this Agreement based on Party B’s campus business strategy and whether both Parties’ partnership in campus business fulfills Party B’s goal for campus partnership business (“business goal”), and
amend or terminate this Agreement accordingly. Party B will notify Party A its business goal in writing separately. 
 7.3 Where the Parties do not renew
this Agreement upon its expiration, this Agreement terminates automatically. 
 7.4 Where, during the term of this Agreement, Party B is unable to provide
the agreed services due to decree, policy, etc. enacted or changed by a relevant competent department of the State, Party B is entitled to unilaterally terminate this Agreement without assuming any damages and legal liability. 

7.5 Party A and Party B shall continue to exercise and perform their rights and obligations arising from this Agreement prior to its termination. 

VIII. Exclusion 
 8.1 To provide services effectively,
Party B’s Alipay APP software system will be repaired and tested from time to time, and service interruptions or instability which result therefrom shall not be deemed as a default by Party B. 

8.2 Where, during the term of this Agreement, a decree, policy, etc. issued and changed by a relevant competent department of the State causes Party B to be
unable to provide the agreed services, Party B shall not be deemed as being in breach, and the Parties shall change the content of this Agreement in accordance with the related decree and policy. 

8.3 Where Party B’s services are interrupted or unstable due to repair, maintenance or instability of the telecommunication company’s wired or
wireless telecommunications system and equipment or an attack by a hacker, or a power sector’s technical adjustment or failure, or banking issues and other reasons, Party B shall not be deemed as being in breach, provided that Party B shall use
reasonable commercial efforts to strive for the resumption of normal services as soon as possible. 
 IX. Force Majeure 

Where either Party cannot perform all or part of its obligations hereunder due to unpredictable, unavoidable and insurmountable events of force majeure, such
as natural disasters (such as typhoon, flood, earthquake, etc.), war, strike, riot or judicial and government restrictions, etc., such Party shall timely notify the other Party, and the Party affected by said event shall be exempted from liability
to the extent of the impacts of the force majeure. Where the event of force majeure lasts for more than fifteen days, any Party may terminate this Agreement by giving written notice to the other Party. 

  
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 X. Governing Laws and Dispute Resolution 

10.1 The validity, interpretation, modification, implementation and dispute resolution of this Agreement shall be governed by the laws of the People’s
Republic of China (excluding the regions of Hong Kong, Macao and Taiwan). 
 10.2 Any dispute arising from this Agreement shall be resolved by the Parties
through consultation, and where consultation efforts fail, such dispute shall be submitted for adjudication by the People’s Court of the place where this Agreement is signed. 

XI. Liability for Breach of Contract 
 11.1 Unless
otherwise agreed herein, where any Party violates any provision of this Agreement, it shall compensate direct losses sustained by the other Party as a result, including but not limited to losses resulting from an administrative penalty imposed upon
or civil liability assumed by a third party. 
 11.2 Unless otherwise agreed herein, no Party shall be liable for direct, indirect, special or contingent
damages sustained by the other Party due to property loss, personal injury, loss of profits, loss of income, business interruption, etc. 
 11.3 Specific
liability for damages to Party B to be assumed by Party A hereunder includes: Party A must, within five working days of receiving notice from Party B, compensate Party B for all losses sustained by Party B due to Party A’s breach, or Party B is
entitled to directly make deductions from the Alipay account under Party A’s name, and when the balance in the Alipay account under Party A’s name is insufficient, Party A shall, within five days (inclusive), replenish said Alipay account
and authorize Party B to make deductions from the balance of said account until compensation is paid in full, and if the balance in the Alipay account remains insufficient to settle the compensation owed to Party B after five days, Party B is
entitled to terminate all of the contracts signed by Party A and Party B, and is entitled to recover damages from Party A and its affiliates. 
 11.4 Based
on the special nature of the cooperation hereunder, Party A covenants that Party A and Party A’s affiliates are bound by the terms of this Agreement, and in case of any breach, Party A and Party A’s affiliates shall be jointly and
severally liable. 
 XII. Notice and Service 
 12.1 The
Parties make clear that during the term of this Agreement, where any Party changes its contact methods (including but not limited to contact person, contact address, email, etc.), such Party shall notify the other Party in writing of the changed
contact methods within three days of such change in accordance with the provisions of this Article, and prior to service of notice, documents or application, the notice, documents or application agreed in this Article shall be served in accordance
with the changed contact methods. Before the notice, document or application is served, conduct engaged in by the other Party in accordance with the unchanged contact methods shall be deemed as valid. 

12.2 Any notice or written communications sent by any Party to another Party in accordance with this Agreement, including but not limited to any and all
written documents or notice that must be sent in accordance with this Agreement, shall be sent by registered mail, express courier or email. If said notice is sent by email, any Party shall notify the other Party through the email address associated
with Party A’s Alipay account or the email agreed herein. Notice sent by any other means shall not be valid and binding upon the other Party. 

  
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 12.3 If the aforesaid document or notice is sent by registered mail, it shall be deemed as having been served and
received on the seventh day after it is delivered to the post office; if the aforesaid document or notice is sent by express courier, it shall be deemed as having been served and received on the date when the courier’s staff delivered said
document or notice to the address of the recipient; if said document or notice is sent by email, it shall be deemed as having been served and received on the date when one Party sends the email to the aforesaid agreed email address of the other
Party. 
 XIII. Transferability 
 Without the other
Party’s written consent, no Party may transfer or assign any of its rights and obligations hereunder. 
 XIV. Miscellaneous 

14.1 Party A covenants that the information such as industry background, operating content, etc. provided by it to Party B is true, effective and complies with
applicable laws and regulations, and all legal liability resulting from violation by Party A of the covenant under this Article shall be borne by Party A alone, and Party A shall compensate Party B for resulting losses, whereby Party B is entitled
to unilaterally rescind this Agreement or terminate its provision of agreed services to Party A at any time. 
 14.2 If any provision hereof is declared
invalid or unenforceable by a court, arbitration commission or other dispute resolution institution, such provision shall be deemed to have been deleted from this Agreement, while the remaining provisions of this Agreement remain fully effective.

 14.3 This Agreement shall become effective upon stamping by the Parties (“effective date”), and is valid for one year after the effective date.
This agreement will automatically renew upon expiration for a successive term of one year unless either party gives the other written notice of termination 30 days before the expiration of this Agreement. To avoid ambiguity, the aforementioned will
not affect both Parties’ rights to terminate this Agreement based on clause 7. The Original Agreement will be terminated upon the effective date of this Agreement. 

14.4 Email designated by Party A: [REDACTED]17 

Email designated by Party B: to be sent to the email address of Party B’s actual contacts. 

14.5 This Agreement is executed in eight (6) counterparts, with Party A holding six (6) copies and Party B holding two (2) copies, each of
which has the same legal effect. 
  

	17 	Confidential treatment requested 

  
 11 

 Party A I: Beijing Happy Time Technology Development Co., Ltd. 

(Sign and seal here) 
  

			
	 /s/ Min Luo
	 	
	(Seal)	 	
	Date:	 	

 Party A II: Ganzhou Happy Life Network Microcredit Co., Ltd. 

(Sign and seal here) 
  

			
	 /s/ Min Luo
	 	
	(Seal)	 	
	 Date:
	 	

 Party A III: Fuzhou High-tech Zone Microcredit Co., Ltd. 

(Sign and seal here) 
  

			
	 /s/ Min Luo
	 	
	(Seal)	 	
	Date:	 	

 Party A IV: Ganzhou Happy Fenqi Network Service Co., Ltd. 

(Sign and seal here) 
  

			
	 /s/ Min Luo
	 	
	(Seal)	 	
	Date:	 	

 Party A V: Xinjiang Qudian Technology Co., Ltd. 

(Sign and seal here) 
  

			
	 /s/ Min Luo
	 	
	(Seal)	 	
	Date:	 	

 Party A VI: Xiamen Qudian Technology Co., Ltd. 

(Sign and seal here) 
  

			
	 /s/ Min Luo
	 	
	(Seal)	 	
	Date:	 	

 Party B: Alipay (China) Internet Technology Co., Ltd. 

(Seal here) 
 (Seal) 

Date: August 30, 2017 

  
 12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}]]