Document:

Exhibit 4.9

 

Exclusive
Call Option Agreement

 

This Exclusive
Call Option Agreement (hereinafter referred to as this “Agreement”) is executed by and among the following
parties on May 31, 2019 in Beijing, PRC:

 

Party
A:      Beijing Sangu Maolu Information Technology Co., Ltd., a limited liability company incorporated and existing in accordance
with Chinese laws under the address of 1011A33, 9F, Yard 1, No. 32 Xizhimen North Avenue, Haidian District, Beijing

 

Party
B:       Party B1: Li Mingyou, a Chinese citizen, ID card number: ******;

Party B2: Du Xingyu, a Chinese citizen, ID card number: ******

and

 

Party
C:       Beijing Internet Drive Technology Co., Ltd., a limited liability company incorporated and existing in accordance with
Chinese laws under the address of No. 3009-190, 3F, Block B, Building 1, Yard 2, No. 2 Yongcheng North Road, Haidian District,
Beijing

 

In this
Agreement, Party A, Party B and Party C are hereinafter each referred to as a “Party” and collectively referred
to as the “Parties”.

 

Whereas:
Party B holds 100% of the equity interests in Party C;

 

Now the
Parties enter into the following agreement through negotiation:

 

		1.	Sale
                                         and Purchase of Equity and Asset 

 

		1.1	Grant
                                         of right

 

		1.1.1	Party
                                         B hereby irrevocably grants Party A an irrevocable exclusive right (the “Purchasing
                                         Right for Equity”) to purchase or designate
                                         a person or persons (each referred to as a “Designated Person of Shares”)
                                         to purchase at any time from Party B all or part of the equity held by it in Party
                                         C at one time or multiple times by steps decided by Party A at its own discretion at
                                         the price stated in Article 1.3 hereof, to the extent permitted by laws of the People’s
                                         Republic of China (“PRC”). No one other than Party A and the Designated
                                         Persons of Shares may enjoy the Purchasing Right for Equity or other rights in relation
                                         to Party B’s equity. Party C hereby agrees that Party B grants Purchasing Right
                                         for Equity to Party A. The term “Person” referred to in this clause
                                         and this Agreement means an individual, company, joint venture, partnership, enterprise,
                                         trust or non-corporate organization.

 

    1

     

    

 

		1.1.2	Party
                                         C hereby irrevocably grants Party A an irrevocable exclusive right (“Purchasing
                                         Right for Asset”) to purchase or designate a person or persons (“Designated
                                         Person of Asset”, and collectively referred to as “Designated Person”
                                         together with Designated Person of Equity) to purchase at any time from Party B all
                                         or part of the assets held by it in Party C at one time or multiple times by steps decided
                                         by Party A at its own discretion at the price stated in Article 1.3 hereof, to the extent
                                         permitted by laws of PRC. No one other than Party A and the Designated Persons of Asset
                                         may enjoy the purchasing right or other rights in relation to Party C’s asset.
                                         Party B agrees that Party C shall grant Party A the right to purchase such assets in
                                         accordance with provisions hereof.

 

		1.2	Exercising
                                         steps

 

Subject
to the terms and conditions of this Agreement, Party A has absolute discretion to determine the specific time, method and frequency
for it to exercise the rights where permitted by laws of PRC.

 

Party
A shall exercise its Purchasing Right for Equity in compliance with the provisions of PRC laws and regulations. To exercise its
purchasing right, Party A shall notify Party B in writing (the “Purchase Notice”), specifying the following
matters: (a) Party A’s decision on the exercise of the purchasing right; (b) the equity shares Party A intends to purchase
from Party B (the “Purchased Equity”); and (c) the date to purchase/transfer the Purchased Equity.

 

Party
A shall exercise its Purchasing Right for Asset in compliance with the provisions of PRC laws and regulations. To exercise its
purchasing right, Party A shall notify Party C in writing (the “Asset Purchase Notice”), specifying the following
matters: (a) Party A’s decision on the exercise of the purchasing right; (b) the asset Party A intends to purchase from
Party C (the “Purchased Asset”); and (c) the date to purchase/transfer the Purchased Asset.

 

When
Party A exercises the Purchasing Right for Equity or Purchasing Right for Asset, Party A can not only transfer the Purchased Equity
or Purchased Asset on its own, but also designate the Purchased Equity or Purchased Asset to be wholly or partly transferred to
the Designated Person.

 

		1.3	Purchase
                                         price of equity and asset

 

		1.3.1	Regarding
                                         the Purchased Equity, the purchase price of the purchased equity (“Purchase
                                         Price of Equity”) shall be RMB 1.00,
                                         unless laws or regulations of PRC require the appraisal at the time when Party A exercises
                                         the rights; where the minimum price allowed by laws of PRC is then higher than the aforesaid
                                         price, the minimum price allowed by the laws shall prevail. Where Party B obtains a transfer
                                         price higher than RMB 1.00 for the Purchased Equity held by Party B, or receives
                                         any form of profit distribution, interests, bonuses or dividends from Party C, Party
                                         B agrees that Party A has the right to obtain the above-mentioned gains of more than
                                         RMB 1.00 to the extent that laws of PRC are not violated. Party B shall instruct
                                         relevant transferee or Party C to pay such proceeds to the bank account designated by
                                         Party A.

 

    2

     

    

 

		1.3.2	Regarding
                                         the Purchasing Right for Asset, the purchase price of the Purchased Asset (“Purchase
                                         Price of Asset”) shall be the net book value of the purchased asset, unless
                                         laws of PRC require the assessment at the time when Party A exercises such right; where
                                         the minimum price allowed by laws of PRC is then higher than the aforesaid net book value,
                                         the minimum price allowed by the PRC laws shall prevail.

 

		1.4	Transfer
                                         of the purchased equity and asset

 

Each
time Party A exercises its Purchasing Right for Equity or Purchasing Right for Asset:

 

		1.4.1	Party
                                         B and Party C shall cause party C to hold in a timely manner a shareholders’ meeting
                                         and/or a board meeting (whichever is applicable), in which a resolution on approval of
                                         the transfer by Party B of the equity to Party A and/or the Designated Person of Shares,
                                         or on approval of the transfer by Party C of the asset to Party A and/or the Designated
                                         Person;

 

		1.4.2	Party
                                         B or Party C (whichever is applicable) shall execute an equity transfer agreement or
                                         an asset transfer agreement (collectively referred to as the “Transfer Contract”)
                                         for each transfer with Party A and/or (whichever is applicable) the Designated Person
                                         in accordance with the provisions hereof and the corresponding purchase notice.

 

		1.4.3	Relevant
                                         parties shall execute all other necessary contracts, agreements or documents, obtain
                                         all necessary government licenses and permissions, and take all necessary actions to
                                         transfer the good title of the Purchased Equity or Purchased Asset to Party A and/or
                                         the Designated Persons (whichever is applicable) without any Security Interest thereon,
                                         and cause Party A and/or the Designated Persons to become the registered owner of the
                                         Purchased Equity or Purchased Asset (if needed). For the purpose of this clause and this
                                         Agreement, “Security Interest” includes guarantees, mortgages, pledge,
                                         lien, claim, third party rights or interests, any share options, acquisition rights,
                                         preemptive rights, setoff rights, retention of title or other guarantee arrangements;
                                         provided that for the purpose of clarity, any security interest incurred under this Agreement
                                         and Party B’s Equity Pledge Agreement are excluded. "Party B’s Equity
                                         Pledge Agreement" referred to in this clause and this Agreement means the Equity
                                         Pledge Agreement executed by Party A, Party B and Party C on the date of execution hereof,
                                         according to which Party B pledge all of its equity in Party C to Party A in order to
                                         ensure that Party B and/or Party C can perform their obligations under this Agreement,
                                         the Exclusive Business Cooperation Agreement and
                                         other relevant transaction documents executed by them with Party A.

 

    3

     

    

 

		2.	Undertakings
                                         

 

		2.1	Undertakings
                                         in relation to Party C

 

Party
B (as Party C’s shareholders) and Party C hereby undertake that:

 

		2.1.1	Without
                                         the prior written consent of Party A, they may not by any means supplement, change or
                                         amend Party C’s articles of association and rules and regulations, increase or
                                         decrease its registered capital, or in other ways change the structure of its registered
                                         capital;

 

		2.1.2	They
                                         shall maintain the existence of the company and prudently and effectively operate its
                                         business and handle its affairs in accordance with good financial and business standards
                                         and practices;

 

		2.1.3	Without
                                         the prior written consent of Party A, they shall not sell, transfer, mortgage, pledge
                                         or by any other means dispose of any legal or beneficial interest in Party C’s
                                         equity, assets, business or income or have the same encumbered with any Security Interest
                                         at any time from the date of execution hereof;

 

		2.1.4	Without
                                         the prior written consent of Party A, no debt shall be incurred, inherited, guaranteed
                                         or allowed to exist, except for: (i) debts arising from the normal course of business
                                         rather than the obtaining of loans, and (ii) debts that have been disclosed to and approved
                                         in writing by Party A;

 

		2.1.5	They
                                         ensure that they operate all of Party C’s businesses during normal course of business,
                                         so as to maintain the value of Party C’s assets, and refrain from any act/omission
                                         that may affect its business status and asset value;

 

		2.1.6	Without
                                         the prior written consent of Party A, Party C may not be urged to execute any material
                                         contract, except for those executed during normal course of business (for the purpose
                                         of this paragraph, a contract will be deemed as a material one if its value exceeds RMB
                                         100,000);

 

		2.1.7	Without
                                         the prior written consent of Party A, Party C may not be urged to provide any loan, credit,
                                         guarantee or warranty for anyone;

 

    4

     

    

 

		2.1.8	They
                                         shall provide all materials in relation to Party C’s operation and financial conditions
                                         for Party A at the request of Party A;

 

		2.1.9	They
                                         shall, if any request is made by Party A, take out and hold insurance in relation to
                                         Party C’s assets and business from an insurance company approved by Party A, the
                                         amount of and the risks covered by which shall be in line with that of and those covered
                                         by the insurance purchased by companies engaged in similar business;

 

		2.1.10	Without
                                         the prior written consent of Party A, Party C may not be urged or permitted to merge
                                         or consolidate with anyone or acquire or invest in anyone or be acquired or invested
                                         by anyone;

 

		2.1.11	Without
                                         the prior written consent of Party A, Party C may not be liquidated, dissolved or deregistered;

 

		2.1.12	They
                                         shall forthwith notify Party A of any litigation, arbitration or administrative procedure
                                         that arose or may arise in relation to Party C’s assets, business or income;

 

		2.1.13	They
                                         shall execute all necessary or appropriate documents, take all necessary or appropriate
                                         actions, file all necessary or appropriate complaints, or make necessary and appropriate
                                         defense against all claims, so as to maintain Party C’s title to all of its assets;

 

		2.1.14	Without
                                         the prior written consent of Party A, they shall ensure that Party C may not by any means
                                         distribute any profits, dividends or bonuses to its shareholders, provided that once
                                         requested by Party A in writing, Party C shall forthwith distribute all distributable
                                         profits, dividends and bonuses to its shareholders;

 

		2.1.15	At
                                         the request of Party A, they shall appoint any personnel designated by Party A to serve
                                         as Party C’s director, supervisor or executive who shall be appointed and/or dismissed
                                         by Party B;

 

		2.1.16	Party
                                         A shall be informed in a timely manner of any situation that may have a materially adverse
                                         effect on Party C's existence, business operation, financial status, assets or goodwill,
                                         and all measures approved by Party A shall be taken in a timely manner to eliminate such
                                         adverse conditions or take effective remedial measures; and

 

		2.1.17	At
                                         the request of Party A at any time, Party C shall immediately and unconditionally transfer
                                         the purchased asset to Party A and/or the Designated Person in accordance with purchasing
                                         right for asset hereof.

 

    5

     

    

 

		2.2	Party
                                         B’s undertakings

                                         Party B hereby undertakes that:

 

		2.2.1	Without
                                         the prior written consent of Party A, it may not sell, transfer, mortgage, pledge or
                                         by any other means dispose of any legal or beneficial interest in the equity of Party
                                         C owned by it, or have the same encumbered with any Security Interest, except for pledge
                                         of such equity under Party B’s Equity Pledge Agreement;

 

		2.2.2	Party
                                         B shall procure that Party C’s board of shareholders and/or board of directors
                                         will not approve without the prior written consent of Party A any sale, transfer, mortgage,
                                         pledge or disposition in any other way of any legal or beneficial interest in the equity
                                         of Party C owned by Party B, or have the same encumbered with any Security Interest,
                                         except for pledge of such equity under Party B’s Equity Pledge Agreement;

 

		2.2.3	Without
                                         the prior written consent of Party A, Party B shall procure that Party C’s board
                                         of shareholders or board of directors will not approve any merger or consolidation with
                                         anyone, or any acquisition of or investment in anyone, or any acquisition by or investment
                                         from anyone;

 

		2.24	Party
                                         B shall forthwith notify Party A of any litigation, arbitration or administrative procedure
                                         that arose or may arise in relation to equity or asset of Party C owned by it;

 

		2.2.5	Party
                                         B shall procure that Party C’s board of shareholders or board of directors will
                                         vote on its approval for the transfer of the Purchased Equity or Purchased Asset hereunder
                                         and take any and all other actions that may be requested by Party A;

 

		2.2.6	Party
                                         B shall execute all necessary or appropriate documents, take all necessary or appropriate
                                         actions, file all necessary or appropriate complaints, or make necessary and appropriate
                                         defense against all claims, so as to maintain its title to the equity of Party C;

 

		2.2.7	At
                                         the request of Party A, Party B shall appoint any personnel designated by Party A to
                                         serve as Party C’s director;

 

		2.2.8	At
                                         the request of Party A at any time, Party B shall forthwith and unconditionally transfer
                                         its equity in Party C to Party A and/the Designated Person of Shares based on the purchasing
                                         right hereunder, and Party B hereby waives its preemptive right (if any) to transfer
                                         of Party C’s equity by other shareholders of Party C; and

 

    6

     

    

 

		2.2.9	Party
                                         B shall strictly comply with the provisions of this Agreement and other contracts executed
                                         by Party B and Party C jointly or separately with Party A, perform its obligations thereunder,
                                         and not engage in any act/omission that may affect the validity and enforceability thereof.
                                         Where Party B owns any residual right to the equity under
                                         this Agreement, the Party B’s Equity Pledge Agreement executed by the Parties hereto,
                                         or the Powers of Attorney Agreement granted with Party A as the beneficiary, unless as
                                         instructed by Party A in writing, Party B may not exercise such right. 

 

		3.	Representations
                                         and Warranties

 

Party
B and Party C hereby jointly and separately represent and warrant to Party A on the date of execution hereof and each date of
transfer of the purchased equity and asset as follows:

 

		3.1	They
                                         have complete and independent legal status and legal ability to sign, deliver and perform
                                         this Agreement, and can act as the subject of a lawsuit independently. Furthermore, they
                                         are authorized to execute and deliver this Agreement and any Transfer Contract and perform
                                         their obligations thereunder. They agree to execute a Transfer Contract in line with
                                         the terms hereof at the time when Party A or its Designated Person exercises its Purchasing
                                         Right for Equity or Purchasing Right for Asset. This Agreement and Transfer Contracts
                                         to which they are a party constitute or will constitute their legal, valid and binding
                                         obligations and shall be enforceable against them in accordance with the terms thereof;

 

		3.2	Neither
                                         the execution and delivery of nor the obligations under this Agreement or any Transfer
                                         Contract shall: (i) result in any violation of any applicable PRC laws; (ii) conflict
                                         with the articles of association, rules and regulations or other organizational documents
                                         of Party C; (iii) result in violation of or constitute any breach of contract under any
                                         contract or instrument to which they are a party or which is binding upon them; (iv)
                                         result in any violation of any condition for the grant and/or continued validity of any
                                         license or permit issued to either of them; or (v) result in the suspension or revocation
                                         of or additional conditions for any license or permit issued to either of them;

 

		3.3	Party
                                         B owns good and merchantable title to the equity held by it in Party C, and has not encumbered
                                         the same with any Security Interest other than those under the Party B’s Equity
                                         Pledge Agreement.

 

		3.4	Party
                                         C owns good and merchantable title to all of its assets, and has not encumbered the aforesaid
                                         assets with any Security Interest;

 

    7

     

    

 

		3.5	Party
                                         C does not have any outstanding debt, except for (i) debts arising from the normal course
                                         of business, and (ii) debts that have been disclosed to and approved in writing by Party
                                         A;

 

		3.6	There
                                         is no pending or threatened litigation, arbitration or administrative procedure in relation
                                         to Party C or its equity or assets.

 

		3.7	Apart
                                         from the registration for equity pledge in administration authority of industry and commerce
                                         management in accordance with provisions specified in Party B’s Equity Pledge Agreement,
                                         no consent, permission, waiver and authorization from a third party or approval, permit,
                                         exemption from any governmental agencies or registration and filing procedures in any
                                         governmental agencies is required for the execution and performance of this Agreement
                                         and granting and exercising purchasing right for equity or asset hereof.

 

		4.	Date
                                         of Effectiveness

 

This
Agreement shall take effect as of the date of execution hereof by the Parties with a term of 10 years, and Party A is entitled
to extend the term. If Party A decides to extend the term, the extended term of validity shall be determined by Party A, and Party
B and Party C shall unconditionally accept such extended term of validity.

 

		5.	Applicable
                                         Laws and Dispute Settlement 

 

		5.1.	Applicable
                                         laws

 

The
execution, effectiveness, interpretation, performance, modification and termination hereof and the settlement of disputes hereunder
shall be governed by laws of PRC.

 

		5.2.	Settlement
                                         of disputes

 

Any
dispute arising from the interpretation and performance hereof shall be settled by the Parties through friendly negotiation first.
Where the Parties fail to reach any agreement on the settlement of such dispute within 30 days after a request for settlement
of the dispute through negotiation is made by any Party to the other Parties, any Party may submit the dispute to China International
Economic and Trade Arbitration Commission for settlement in accordance with its then effective arbitration rules. The arbitration
shall be held in Beijing, and the language of the arbitration shall be Chinese. The arbitration award shall be final and binding
upon the Parties.

 

    8

     

    

 

		6.	Taxes
                                         and Fees

 

Each
Party shall pay any and all transfer and registration taxes, expenses and fees incurred by or imposed on such Party in accordance
with PRC laws with respect to the preparation and execution of this Agreement and Transfer Contracts and the completion of the
transactions thereunder.

 

Regardless
of the contrary, where the taxation authority considers that the Purchase Price of Equity or Purchase Price of Asset is not a
reasonable transfer price and adjusts the tax base, Party B (applicable to the case where Party A exercises the Purchasing Right
for Equity) or Party C (applicable to the case where Party A exercises the Purchasing Right for Asset) shall bear the additional
taxes.

 

		7.	Notice

 

		7.1	All
                                         notices and other communications to be sent as required or permitted hereunder shall
                                         be sent by personal delivery or postage prepaid registered mail, commercial courier service
                                         or fax to the following address of the receiving Party. For each notice, a confirmation
                                         letter shall be sent via email. Such notice shall be deemed effectively delivered on:

 

		7.1.1	the
                                         date of delivery or rejection at the designated receiving address, if sent by personal
                                         delivery, courier service or postage prepaid registered mail.

 

		7.1.2	the date of successful
transmission (evidenced by an automatically generated message confirming the transmission), if sent by fax.

 

		7.2	Any
                                         Party may change at any time its address for the receipt of notices by notifying the
                                         other Parties in accordance with the terms of this clause.

 

		8.	Confidentiality
                                         Liability

 

The
Parties acknowledge that any oral or written information exchanged in respect hereof shall be confidential information. Each Party
shall keep confidential all such information and, without the written consent of the other Parties, may not disclose to any third
party any relevant information, unless: (a) the public is or will be aware of such information (which is not caused by any disclosure
by the receiving Party to the public); (b) such information shall be disclosed as required by applicable laws or the rules or
provisions of any securities exchange; (c) any Party is required to disclose such information to its legal consultant or financial
consultant with respect to any transaction provided for hereunder, and such legal consultant or financial consultant is also required
to be bound by confidentiality obligation similar to that provided for in this clause. The disclosure of any confidential information
by any staff or organization employed by any Party shall be deemed as disclosure of such confidential information by such Party,
and such Party shall bear legal liability for its violation hereof. This clause shall survive the termination hereof for whatever
reason.

 

    9

     

    

 

		9.	Further
                                         Warranties

 

The
Parties agree to promptly execute other documents and take further actions reasonably required for or favorable to the implementation
of the provisions and purposes hereof.

 

		10.	Miscellaneous
                                         

 

		10.1	Amendment,
                                         revision and supplement

 

Any
amendment, revision and supplement hereto shall be subject to a written agreement executed by the Parties.

 

		10.2	Entire
                                         contract

 

Except
for any written amendment, supplement or change hereto made after the execution hereof, this Agreement shall constitute the entire
agreement among the Parties in respect of the subject matter hereof, and supersede all prior oral and written negotiation, statements
and contracts reached by them with respect to the subject matter hereof.

 

		10.3	Headings

 

The
headings herein are for the convenience of reading only, and shall not be used for the interpretation or explanation of or in
any other respect affecting the meaning of the provisions hereof.

 

		10.4	Language

 

This
Agreement is written in Chinese in one or more counterparts, both of which shall have the same legal force and effect.

 

		10.5	Severability

 

Where
any provision(s) hereof is/are determined by any laws or regulations to be void, illegal or unenforceable in any respect, the
validity, legality or enforceability of the remaining provisions hereof shall not be affected or damaged in any respect. The Parties
shall endeavor through bona fide negotiation to replace such void, illegal or unenforceable provision(s) with valid provision(s)
to the maximum extent permitted by laws and expected by the Parties, and the economic effects of such valid provision(s) shall
be similar to that of such void, illegal or unenforceable provision(s).

 

    10

     

    

 

		10.6.	Transfer

 

Without
the prior written consent of Party A, other parties shall not transfer any rights and/or obligations hereof to any third party.
Party B and Party C agree that Party A has the right to unilaterally transfer any of its rights/obligations hereof to any third
party without their consent, but shall notify other parties in writing.

 

		10.7	Successor

 

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

 

		10.8	Survival

 

		10.8.1	Any
                                         obligation arising from this Agreement or becoming due prior to the expiry or early termination
                                         hereof shall survive the expiry or early termination hereof.

 

		10.8.2	The
                                         provisions of Articles 5, 7, 8 hereof and this Article 10 shall survive the termination
                                         hereof.

 

		10.9	Waiver

 

Any
Party may waive any terms and conditions hereof, provided that such waiver shall be made in writing and executed by the Parties.
The waiver by any Party under certain circumstances with respect to other Parties’ breach of contract shall not be deemed
as waiver by such Party under other circumstances with respect to similar breach of contract.

 

——
The following is the signature page —— 

 

    11

     

    

 

Signature
only on this page for Exclusive Call Option Agreement

 

 

Party A:

 

Beijing
Sangu Maolu Information Technology Co., Ltd. (Seal)

 

Legal Representative:  Mingyou
LI

 

 

Party C:

 

Beijing
Internet Drive Technology Co., Ltd. (Seal)

 

Legal Representative:  Mingyou
LI

 

    

     

    

 

Signature
only on this page for Exclusive Call Option Agreement

 

Party B:

 

Mingyou
LI

 

	/s/ Mingyou
LI	 

 

    

     

    

 

Signature
only on this page for Exclusive Call Option Agreement

 

Party B:

 

Xingyu DU

 

	/s/ Xingyu
DUExhibit 4.10

 

Equity
Pledge Agreement

 

This Equity Pledge Agreement
(hereinafter referred to as this “Agreement”) is executed by and among the following Parties on May 31, 2019
in Beijing, PRC:

 

Party
A:   Beijing Sangu Maolu Information Technology Co., Ltd., a limited liability company incorporated and existing in accordance
with Chinese laws under the address of 1011A33, 9F, Yard 1, No. 32 Xizhimen North Avenue, Haidian District, Beijing; (hereinafter
referred to as the “Pledgee”)

 

Party
B     (hereinafter referred to as the “Pledgors”)

Party B1: Li Mingyou, a
Chinese citizen, ID card number: ******;

Party B2: Du Xingyu, a Chinese citizen, ID card number: ******

 

Party
C:   Beijing Internet Drive Technology Co., Ltd., a limited liability company incorporated and existing in accordance with
Chinese laws under the address of No. 3009-190, 3F, Block B, Building 1, Yard 2, No. 2 Yongcheng North Road, Haidian District,
Beijing

 

In this Agreement, the Pledgee, the Pledgors
and Party C are hereinafter each referred to as a “Party” and collectively referred to as the “Parties”.

 

Whereas:

 

		1.	The Pledgors hold 100% of the equity of Party C. Party C is a limited liability company registered
in Beijing, PRC, and is engaged in technology development, technology promotion, technology transfer, technology consultation,
technology service; advertisement design, preparation and release, and advertising agency service; organization of culture and
art exchange activities (excluding commercial performances); organization of exhibitions and shows; conference service; corporate
management consultation; public relations service; conference service; and market survey. Party C acknowledges the respective rights
and obligations of the Pledgors and the Pledgee hereunder, and agrees to provide any necessary assistance in the registration of
such Right of Pledge;

 

		2.	The Pledgee is a wholly foreign-owned enterprise incorporated in Beijing, PRC. The Pledgee and
Party C executed an Exclusive Business Cooperation Agreement (hereinafter referred to as the “Exclusive Business
Cooperation Agreement”) on May 31, 2019; the Pledgee, the Pledgors and Party C executed an Exclusive Call Option Agreement
(hereinafter referred to as the “Exclusive Call Option Agreement”) on May 31, 2019; each Pledgor executed a
Power of Attorney Agreement (hereinafter referred to as the “Power of Attorney Agreement”, collectively
referred to as the “Program Agreements” together with the Exclusive Business Cooperation Agreement and the Exclusive
Call Option Agreement) on May 31, 2019;

 

    1

     

    

 

		3.	Purpose of the pledge: in order to ensure that (A) the Pledgee can collect all payments due and
payable, including but not limited to consultation and service fees, from Party C in accordance with the Exclusive Business Cooperation
Agreement; (B) the Pledgee can effectively exercise the options and/or asset purchase rights in accordance with the Exclusive Call
Option Agreement; and (C) the Pledgee can exercise its voting rights in accordance with the Power of Attorney Agreement, the Pledgors
agree to pledge all of the equity owned by them in Party C to the Pledgee for various obligations of Party B and Party C under
the Program Agreements.

 

Therefore, the Parties
agree to execute this Agreement in accordance with the following terms.

 

		1.	Definitions

 

Unless otherwise specified herein,
the following words shall have the meanings ascribed to them below:

 

		1.1	"Right of Pledge" shall mean the security interest granted by the Pledgors to
the Pledgee pursuant to Article 2 hereof, i.e., the Pledgee’s right to be paid in priority with the price at which the Equity
is transferred, auctioned or sold.

 

		1.2	"Pledged Equity" shall mean all 100% equity legally held by the Pledgors in Party
C, and the increased amount of capital contribution and dividend as described in Article 2.3 and Article 2.4 hereof.

 

		1.3	"Term of Pledge" shall mean the term provided for in Article 3 hereof.

 

		1.4	"Program Agreements" shall have the same meaning in foreword hereof.

 

		1.5	"Contractual Obligations" shall mean all contractual obligations of the Pledgors
and Party C under this Agreement and the Program Agreements.

 

		1.6	"Secured Debt" shall mean payment and other obligations of Party C under the Exclusive
Business Cooperation Agreement, and all direct, indirect and derivative losses and loss of predictable interests suffered by the
Pledgee as a result of any Event of Default (as defined below) by any Pledgor and/or Party C. Basis for the amount of such losses
includes but is not limited to the Pledgee’s reasonable business plan and earnings estimate, service fees payable by Party
C under the Exclusive Business Cooperation Agreement, and all costs incurred by the Pledgee to force the Pledgors and/or the Party
C to perform their Contractual Obligations.

 

		1.7	"Event of Default" shall mean any circumstance specified in Article 7 hereof.

 

		1.8	"Default Notice" shall mean notice issued by the Pledgee in accordance with this
Agreement to declare any Event of Default.

 

    2

     

    

 

		2.	Right of Pledge

 

		2.1	As a repayment guarantee for Secured Debt, each Pledgor hereby pledges all of the Pledged Equity
held by it in Party C to the Pledgee. Party C hereby agreed that the Pledgor shall pledge the Pledged Equity to the Pledgee in
accordance with provisions hereof.

 

		2.2	The Pledgors undertake to record the equity pledge arrangement in Party C’s register of shareholders.

 

		2.3	With the prior written consent of the Pledgee, the Pledgors may increase their capital in Party
C. The amount of additional contribution made by the Pledgors in the registered capital of Party C due to capital increase shall
also fall under the Pledged Equity. The Pledgors undertake to record the equity pledge of the newly added capital under Article
2.3 in Party C's register of shareholders and apply for registration with the Registration Authority (as defined below) within
ten (10) business days after the capital increase.

 

		2.4	During the Term of Pledge, the Pledgee shall have the right to receive the returns (including but
not limited to any dividends and profits) arising from the Pledged Equity. With the prior written consent of the Pledgee, the Pledgors
may obtain dividends or bonus from the Pledged Equity. Dividends or bonus obtained by the Pledgors from the Pledged Equity shall
be deposited in the Pledgee's designated account, supervised by the Pledgee, and used to settle the Secured Debt first.

 

		3.	Term of Pledge

 

		3.1	The Right of Pledge shall take effect upon the registration with the competent administration for
industry and commerce management at the place where Party C is located (hereinafter referred to as the “Registration Authority”).
The Parties agree that after the Agreement is executed, the Pledgors and Party A shall file an application to the Registration
Authority for the registration of the equity pledge within the term as agreed by both Parties. The Parties further agree that,
within twenty (20) business days as of the date of formal acceptance by the Registration Authority of the application for equity
pledge registration, all formalities for equity pledge registration shall be completed, a registration notice issued by the Registration
Authority shall be obtained, and the equity pledge shall be recorded completely and accurately on the equity pledge register by
the Registration Authority.

 

		3.2	The term of the Agreement shall last till the Contractual Obligations are fully performed or the
Secured Debt is completely discharged.

 

    3

     

    

 

		4.	Custody of Equity Records

 

During the Term of Pledge provided
for herein, the Pledgors shall deliver within a week upon the execution hereof the register of shareholders on which the Right
of Pledge is recorded to the Pledgee for custody. The Pledgee shall keep such documents throughout the Term of Pledge provided
for herein.

 

		5.	Representations and Warranties of the Pledgors 

 

		5.1	Each Pledgor is a Chinese legal person, enjoys full capacity, possesses the legal rights and capabilities
to sign this Agreement, and assumes legal obligations according to this Agreement. Duly executed by the Pledgors, the Agreement
constitutes a legal, valid and binding obligation to the Pledgors.

 

		5.2	Each Pledgor is the sole legal and beneficial owner of the Pledged Equity, and has no dispute regarding
the title of the Pledged Equity. Each Pledgor has the right to dispose of the Pledged Equity and any part thereof.

 

		5.3	Other than this Right of Pledge, each Pledgor has not placed any security interest or other encumbrances
on the equity.

 

		5.4	Any third party's consent, permission, waiver, authorization, or any government agencies’
approval, permit, exemption, or registration or filing procedure (if required by the law) for the execution and performance of
this Agreement and equity pledge hereof has been obtained or processed (except for pledge registration with the Registration Authority),
and will be fully effective during the term of validity hereof.

 

		5.5	The Pledgors hereby assure the Pledgee that the above representations and warranties are true and
correct and shall be fully followed in all circumstances at any time before the Contractual Obligations are fully fulfilled or
the Secured Debt is fully settled.

 

		6.	Undertakings and Further Consent of the Pledgors 

 

		6.1	During the term hereof, the Pledgors hereby undertake to the Pledgee that:

 

		6.1.1	Except for performing the Exclusive Call Option Agreement, without the prior written consent of
the Pledgee, they may not transfer the equity or place or allow the existence of any security interest or other encumbrances thereon
which may affect the rights and interests of the Pledgee in the equity;

 

		6.1.2	They will forthwith notify the Pledgee of any event or any notice received by the Pledgors which
may affect the Pledgee’s right to the equity or any part thereof and any event or any notice received by the Pledgors which
may affect any warranty or other obligations of the Pledgors arising from this Agreement.

 

    4

     

    

 

		6.2	Each Pledgor agrees that the Right of Pledge obtained by the Pledgee in accordance with this Agreement
may not be interrupted or obstructed by such Pledgor or any successor or representative thereof or any other person through legal
procedure.

 

		6.3	Each Pledgor hereby undertakes to the Pledgee that it will comply with and perform all warranties,
undertakings, agreements, statements and conditions hereunder. Where any Pledgor fails to perform, partially or in full, its warranties,
undertakings agreements, statements and conditions, such Pledgor shall compensate the Pledgee for all losses resulting therefrom.

 

		6.4	Each Pledgor hereby waives the preemptive right it may have when the Pledgee exercises the Right
of Pledge.

 

		7.	Event of Default

 

		7.1	Each of the following circumstances shall be deemed as an Event of Default:

 

		7.1.1	Failure by Party C to pay up the consultation and service fees payable under the Exclusive Business
Cooperation Agreement or violation by Party C of its any other obligations thereof;

 

		7.1.2	Violation by Party C or any Pledgor of other provisions in the Program Agreements;

 

		7.1.3	Any statement or warranty made by any Pledgor in Article 5 hereof includes gross misrepresentation
or error, and/or any Pledgor violates any warranty in Article 5 hereof; or any Pledgor violates undertakings and further consent
in Article 6 hereof;

 

		7.1.4	The Pledgors and Party C fail to complete the equity pledge registration with the Registration
Authority as provided for in Article 3.1 hereof;

 

		7.1.5	Any Pledgor or Party C violates any provisions hereof;

 

		7.1.6	Unless specified in Article 6.1.1, any Pledgor transfers or intends to transfer or waives the Pledged
Equity or assigns the Pledged Equity without the written consent of the Pledgee;

 

		7.1.7	Any liability of the Pledgor per se for any loan from or any guarantee, compensation, undertaking
or other debts to any third party: (i) is required to be repaid or performed in advance due to the Pledgors’ breach of contract;
or (ii) has become due but cannot be repaid or performed on time;

 

		7.1.8	Any approval, license, permit or authorization of government authorities which makes this Agreement
enforceable, legal and valid is withdrawn or suspended, becomes void, or is changed substantially;

 

    5

     

    

 

		7.1.9	The promulgation of applicable laws which makes this Agreement illegal or makes any Pledgor unable
to continue to perform its obligations hereunder;

 

		7.1.10	Any adverse change in the property owned by any Pledgor, causing the Pledgee to deem that such
Pledgor’s ability to perform its obligations hereunder is affected;

 

		7.1.11	Party C’s successor or trustee can only partially perform or refuses to perform the payment
liabilities under the Exclusive Business Cooperation Agreement or the Exclusive Call Option Agreement; and

 

		7.1.12	Any other circumstances under which the Pledgee is unable or may be unable to exercise its Right
of Pledge.

 

		7.2	Upon knowing or detecting any circumstance specified in Article 7.1 or the occurrence of any event
which may result in the aforesaid circumstances, the Pledgors shall forthwith notify the Pledgee in writing accordingly.

 

		7.3	Unless the Event of Default specified in this Article 7.1 has been successfully settled to the
satisfaction of the Pledgee, the Pledgee may issue a Default Notice to any Pledgor upon or at any time after the occurrence of
any Event of Default, requesting the latter to pay all outstanding payments and amount due and payable under the Program Agreements
to the Pledgee, and/or dispose of the Right of Pledge in accordance with the provisions of Article 8 hereof.

 

		8.	Exercise of the Right of Pledge

 

		8.1	Before the Secured Debt is fully paid, no Pledgor may transfer its equity in Party C or re-pledge
the equity to any third party without the written consent of the Pledgee.

 

		8.2	The Pledgee may issue a Default Notice to the Pledgors at the time of exercising the Right of Pledge.

 

		8.3	Subject to the provisions of Article 7.3, the Pledgee may exercise the Right of Pledge at the time
of or at any time after issuing the Default Notice in accordance with Article 7.2.

 

		8.4	The Pledgee may be paid in priority in accordance with legal procedures with the price at which
all or part of the Pledged Equity hereunder is transferred, auctioned or sold, until all outstanding payments and other amounts
due under the Program Agreements have been paid up.

 

		8.5	When the Pledgee disposes of the Right of Pledge in accordance with this Agreement, the Pledgors
and Party C shall render necessary assistance, so that the Pledgee may exercise the Right of Pledge pursuant to this Agreement.

 

    6

     

    

 

		9.	Transfer

 

		9.1	Without the prior written consent of the Pledgee, the Pledgor may not assign its rights or delegate
its obligations hereunder. However, at any time, the Pledgee may assign or delegate its rights and obligations hereof without the
consent of the Pledgors or Party C, provided that the Pledgors and Party C are notified within a reasonable time.

 

		9.2	This Agreement shall be binding upon the Pledgor and its successors and permitted assigns, and
shall be valid for the Pledgor and each of its successors and assigns.

 

		9.3	The Pledgee may transfer at any time any and all of its rights and obligations under the Program
Agreements to any (natural/legal) person designated by it, in which case the transferee shall enjoy the rights and bear the obligations
of the Pledgee hereunder, as if it were an original party hereto. When the Pledgee transfers any of its rights and obligations
under the Program Agreements, at the request of the Pledgee, the Pledgor shall execute relevant agreements or other documents in
relation to such transfer.

 

		9.4	Where the Pledgee is changed as a result of the transfer, at the request of the Pledgee, the Pledgor
shall execute a new pledge agreement with the new Pledgee on the same terms and conditions as that of this Agreement, revised Exclusive
Business Cooperation Agreement, Exclusive Call Option Agreement, Power of Attorney Agreement and other relevant documents.

 

		9.5	The Pledgor shall strictly comply with the provisions of this Agreement and other contracts executed
jointly or separately by the Parties or any of them, including the Exclusive Business Cooperation Agreement, the Exclusive Call
Option Agreement and the Power of Attorney Agreement granted to the Pledgee, perform its obligations under this Agreement and other
contracts, and not engage in any act/omission that may affect the validity and enforceability thereof. Unless instructed by the
Pledgee in writing, the Pledgor may not exercise any residual right to the Pledged Equity hereunder.

 

		10.	Termination and Rescission of Pledge

 

After the Pledgor and Party
C have fully and completely performed all of their Contractual Obligations and paid off all Secured Debts, the Pledgee shall, at
the request of the Pledgor, as soon as reasonably practicable, rescind the pledge of the Pledged Equity hereunder, and cooperate
with the Pledgors to handle formalities for cancelling the registration of Pledged Equity in Party C’s register of shareholders
and for cancelling the registration of pledge with Registration Authority.

 

    7

     

    

 

		11.	Commission and Other Fees

 

All fees and actual
expenditures in relation to this Agreement, including but not limited to the lawyer’s fee, cost of production, stamp
duty, and any other taxes and costs shall be borne by Party C. Where any applicable law requires that the Pledgee shall bear
some relevant taxes and fees, the Pledgors shall cause Party C to repay in full the taxes and fees that have been paid by the
Pledgee.

 

		12.	Confidentiality Liability

 

The Parties acknowledge that
any oral or written information exchanged in respect hereof shall be confidential information. Each Party shall keep confidential
all such information and, without the written consent of the other Parties, may not disclose to any third party any relevant information,
unless: (a) the public is or will be aware of such information (which is not caused by any disclosure by the receiving Party to
the public); (b) such information shall be disclosed as required by applicable laws or the rules or provisions of any securities
exchange; (c) any Party is required to disclose such information to its legal consultant or financial consultant with respect to
any transaction provided for hereunder, and such legal consultant or financial consultant is also required to be bound by confidentiality
obligation similar to that provided for in this clause. The disclosure of any confidential information by any staff or organization
employed by any Party shall be deemed as disclosure of such confidential information by such Party, and such Party shall bear legal
liability for its violation hereof. This clause shall survive the termination hereof for whatever reason.

 

		13.	Applicable Laws and Dispute Settlement 

 

		13.1	The execution, effectiveness, interpretation and performance hereof and the settlement of disputes
hereunder shall be governed by laws of PRC.

 

		13.2	Any dispute arising from the interpretation and performance hereof shall be settled by the Parties
through friendly negotiation first. Where the Parties fail to reach any agreement on the settlement of such dispute within 30 days
after a request for settlement of the dispute through negotiation is made by any Party to the other Parties, any Party may submit
the dispute to China International Economic and Trade Arbitration Commission for settlement in accordance with its then effective
arbitration rules. The arbitration shall be held in Beijing, and the language of the arbitration shall be Chinese. The arbitration
award shall be final and binding upon the Parties.

 

		13.3	Where any dispute arises from the interpretation and performance hereof, or during the period when
any dispute is subject to arbitration, except for the matters under dispute, the Parties shall continue to exercise their respective
rights and perform their respective obligations hereunder.

 

    8

     

    

 

		14.	Notice 

 

		14.1	All notices and other communications to be sent as required or permitted hereunder shall be sent
by personal delivery or postage prepaid registered mail, commercial courier service or fax to the following address of the receiving
Party. For each notice, a confirmation letter shall be sent via email. Such notice shall be deemed effectively delivered on:

 

		14.1.1	the date of delivery or rejection at the designated receiving address, if sent by personal delivery,
courier service or postage prepaid registered mail; or

 

		14.1.2	the date of successful transmission (evidenced by an automatically generated message confirming
the transmission), if sent by fax.

 

		14.2	Any Party may change at any time its address for the receipt of notices by notifying the other
Parties in accordance with the terms of this clause.

 

		15.	Severability

 

Where any provision(s) hereof
is/are determined by any laws or regulations to be void, illegal or unenforceable in any respect, the validity, legality or enforceability
of the remaining provisions hereof shall not be affected or damaged in any respect. The Parties shall endeavor through bona fide
negotiation to replace such void, illegal or unenforceable provision(s) with valid provision(s) to the maximum extent permitted
by laws and expected by the Parties, and the economic effects of such valid provision(s) shall be similar to that of such void,
illegal or unenforceable provision(s).

 

		16.	Appendix

 

The appendixes listed herein
shall be an integral part hereof.

 

		17.	Effectiveness 

 

		17.1	This Agreement shall take effect on the date of execution hereof by the Parties. Any and all amendments,
modifications and supplements hereto shall be made in writing and take effect after the signature or seal of the Parties and the
completion of government registration procedures (if applicable).

 

		17.2	This Agreement is written in Chinese in one or more counterparts, each of which shall have the
same legal force and effect.

 

——The following is the signature
page—— 

 

    9

     

    

 

Signature only on this page for Equity
Pledge Agreement

 

 

 

Party A:

 

Beijing Sangu Maolu Information Technology
Co., Ltd. (Seal)

 

Legal Representative:Mingyou LI

 

 

 

 

 

 

 

 

 

 

 

Party C:

 

Beijing Internet Drive Technology Co.,
Ltd. (Seal)

 

Legal Representative:Mingyou LI

 

     

     

    

 

Signature only on this page for Equity
Pledge Agreement

 

	Party B:	 
	 	 
	Mingyou LI	 
	 	 
	/s/ Mingyou LI	 

 

     

     

    

 

Signature only on this page for Equity
Pledge Agreement

 

	Party B:	 
	 	 
	Xingyu DU	 
	 	 
	/s/ Xingyu DU	 

 

     

     

    

 

Appendix

 

Register of Shareholders

 

	No.	Name	Identity Card Number	Capital Contribution (RMB)	Situation of Equity Pledge
	1.	Li Mingyou 	******	99,000	All pledged to Beijing Sangu

 Maolu Information Technology 

Co., Ltd.
	2.	Du Xingyu 	******	1,000	All pledged to Beijing Sangu

 Maolu Information Technology

 Co., Ltd.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}]]