Document:

BUSINESS
OPERATION AGREEMENT

    

    This
Agreement is made on the 26th day of
November, 2008, at Shijiazhuang, People’s Republic of China (the “PRC”) by and
among the following parties:

    

    Hebei
Chuang Lian Trade Co., Ltd. ( “Party A”)

    Registered
Address: 322 East Zhongshan Road, Shijiazhuang

    Legal
representative: Zhang Zhongwen

    

    Hebei Hua
An Investment Co., Ltd. (“Party
B”)

    Registered
Address: 322 East Zhongshan Road, Shijiazhuang

    Legal
representative: Guo Zhongqi

    

    WHEREAS:

    

    
      	
              1.

            	
              Party
      A, a wholly foreign owned enterprise organized and existing under the laws
      of PRC. (For the purpose of this Agreement, excluded Hong Kong Special
      Administrative Region, Macau Special Administrative Region and Taiwan
      hereinafter the “PRC”)

            

    

    

    
      	
              2.

            	
              Party
      B, a limited liability company registered and existing under the laws of
      PRC.

            

    

    

    
      	
              3.

            	
              Party
      A and Party B have agreed that, under the law of the PRC, Party B shall
      assign the equity interests of 【22】4S Stores(
      hereinafter “companies”) hold by him to Party A or any third party
      designated by Party A unconditionally. So the ordinary course of business
      will materially impact the interest of Party A after the acquisition of
      equity interest of Party B

            

    

    

    NOW THEREFORE, through mutual
consultations, the Parties have reached the following
agreement:

    

    
      	
              1.

            	
              OBLIGATION

            

    

    

    For the
purpose of guarantee the Agreements and obligations, Party B hereby acknowledges
and agrees that, other than with prior written consent of Party A or the third
party designated by Party A, Party B will not undertake or urge the Company to
undertake any transactions which may material impact the assets, obligations,
rights or business of the company, including but not limited:

    

    
      	
               
      

            	
              1.1

            	
              It
      will not undertake any business beyond the ordinary scope of
      business;

            

    

    

    
      	
               
      

            	
              1.2

            	
              It
      will not lend any loan to third party or assume any indebtedness from any
      third party;

            

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              1.3

            	
              It
      will not change or remove any directors or senior management
      team.

            

    

    

    
      	
               
      

            	
              1.4

            	
              It
      will not sell or acquire any assets or rights exceed RMB 100,000 in value
      to any third party, include but not limited to any intellectual
      properties;

            

    

    

    
      	
               
      

            	
              1.5

            	
              It
      will not provide any of its assets or intellectual properties to be used
      as securities or provide any other encumbrance
  thereon;

            

    

    

    
      	
               
      

            	
              1.6

            	
              It
      will not modify the articles of association and bylaws of the Company or
      alter the scope of business of the
Company;

            

    

    

    
      	
               
      

            	
              1.7

            	
              It
      will not alter the operation procedure or substantially modifying the
      internal system;

            

    

    

    
      	
               
      

            	
              1.8

            	
              It
      will not transfer the rights and obligations hereunder to any third
      party.

            

    

    

    Party A
has the right to inspect the business status of Company at any time and ask
Party B for assistance, including but not limited to provide the documents which
Party A believes is necessary and to answer the questions raised by Party A. In
the event that the conduct(s) of Party B or the Company lead the Party A
reasonably believes that it had violated the obligation provided in the Section
1 under this Agreement, Party A is entitled to require Party B to withdraw such
conduct(s), and Party B shall cause the Company to withdraw such conduct(s) (if
possible).

    

    
      	
              2.

            	
              BUSINESS
      OPERATION AND PERSONNEL ARRANGEMENT

            

    

     

    
      
        	 	2.1	      
                Party
      B agrees to cause the Company to accept and enforce rigidly the advices in
      connection with the appointment and dismissal of employees, the daily
      business operation of the Company and the financing management systems of
      the Company.

              
	 	 	 
	
                 
      

              	
                2.2

              	
                Party
      B hereby agrees that, it will cause the Company to appoint the persons
      designated by Party A to assume the position of director in accordance
      with the procedure provided by laws, regulations and articles of
      association, and cause such directors to elect the chairman of the board
      according to the instruction by Party A. Party B shall appoint the
      personnel designated by Party A as the Company’s general manager,
      financial controller and other
officers

              

      

    

    

    
      	
               
      

            	
              2.3

            	
              The
      aforesaid director or officers designated by Party A shall loss all the
      position in the Company in the event of dismissal (voluntarily or
      involuntarily) or resignation from Party A. Party B shall cause the
      Company to appoint other person designated by Party A to assume such
      position under this circumstance.

            

    

    

    
      	
               
      

            	
              2.4

            	
              For
      the purpose of said Section 2.3, Party B will urge the Company to take any
      and all necessary steps to accomplish the appointment and dismissal
      procedure under the applicable law, regulations and articles of
      association of the Company and provisions specified in this
      Agreement.

            

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              2.5

            	
              Simultaneously
      with the execution of this Agreement, party B agrees to execute the Power
      of Attorney (“POA”), appointing Party A’s authorized representatives as
      his/her attorney with the power to vote at any meetings or in any other
      circumstance, Party B further agrees to execute and deliver a new POA to
      the effect of withdrawing the authorization with respect to the
      representative of the Attorney in the POA and nominate the new
      representative as the attorney on request of Party
  A.

            

    

    

    
      	
              3.

            	
              MISCELLANEOUS

            

    

    

    
      	
               
      

            	
              3.1

            	
              In
      the event of expiration or termination of any one of the agreements
      between the Parties, Party A is entitled to determine whether to terminate
      all other agreements between the
Parties.

            

    

    

    
      	
               
      

            	
              3.2

            	
              Party
      B agrees, it will pay or transfer unconditionally to Party A any or all
      bonus, dividends or any other revenues or benefits (no matter the form)
      which it obtained from the Company as the shareholder. The taxes and
      expenses regard with the transfer (if any) shall be assumed according to
      the applicable laws.

            

    

     

    
      	
              4.

            	
              BREACH
      OF CONTRACT

            

    

     

    
      
        	 	      
                4.1

              	      
                Unless
      otherwise specified hereunder, in the event that Party B fails to perform
      this Agreement fully and completely or terminate its performance
      temporarily, and fails to correct his non-performance within 30 days after
      the acceptance of Party A’s notice, it will be deemed as the breach of
      contract.

              
	 	 	 
	
                 
      

              	
                4.2

              	
                Any
      expenses (including but not limited to attorney fees, litigation fees,
      arbitration fees and travel and lodging fees), responsibilities or damages
      (including but not limited to reasonable loss of profit) undertaken by
      Party A arising in connection with the non-performance of Party B shall be
      indemnified by Party B.

              

      

    

    

    
      	
              5.

            	
              ENTIRE
      AGREEMENT AND AMENDMENT

            

    

    

    
      	
               
      

            	
              5.1

            	
              This
      Agreement and any other contract mentioned or included expressly by the
      Agreement constitute the entire the subject matter between the Parties
      hereto, and supersedes all prior agreements, contracts, understandings and
      communications.

            

    

     

    
      	
               
      

            	
              5.2

            	
              No
      amendment, supplementary or modification of this Agreement shall occur
      except in writing. The amend agreement and supplementary agreement that
      have been signed by the Parties shall have the same validity as this
      Agreement.

            

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              6.

            	
              GOVERNING
      LAW

            

    

    

    The
execution, effectiveness, performance, construction and settlement of dispute of
this Agreement shall be governed by the laws of the PRC.

    

    
      	
              7.

            	
              SETTLEMENT
      OF DISPUTE

            

    

    

    
      	
               
      

            	
              7.1

            	
              In
      the event of any dispute with respect to or in connection with the
      construction and performance of the provisions of this Agreement, the
      Parties shall first negotiate in good faith to resolve the dispute. In the
      event the Parties fail to reach an agreement on the resolution of such a
      dispute, any Party may submit the relevant dispute to China International
      Economic and Trade Arbitration Commission in Shijiazhuang for binding
      arbitration. The languages used during arbitration shall be Chinese. The
      arbitration shall be final and binding on both
  Parties.

            

    

    

    
      	
               
      

            	
              7.2

            	
              The
      Parties shall in good faith in all other respects continue their
      implementation of this Agreement except issues in dispute between the
      Parties.

            

    

    

    
      	
              8.

            	
              NOTICES

            

    

    

    All
notices and other communications given or made pursuant hereto shall be in
writing and deliverer to the address as specified below by personally delivery,
registered mail pre-paid post, courier or facsimile transmission.

    

    Party A:
Hebei Chuang Lian Trade Co., Ltd.

    Address:
322 East Zhongshan Road, Shijiazhuang

    Facsimile:
0311-83819636

    Telephone:
0311-83827688

    Attention:
Zhang Zhongwen

    

    Party B:
Hebei Hua An Investment Co., Ltd.

    Address:
322 East Zhongshan Road, Shijiazhuang

    Facsimile:
0311-85068891Telephone: 0311-85068889

    Attention:
Guo Zhongqi

    

    
      	
              9.

            	
              EFFECTIVENESS,
      TERMIN ATION AND MISCELLANEOUS

            

    

    

    
      	
               
      

            	
              9.1

            	
              This
      Agreement shall expire in 10 years following the date first above written
      unless terminated earlier in accordance with the provisions specified in
      this Agreement. The term of this
      Agreement will be automatically extended for another ten-year period upon
      expiry, unless Party A filed a 3 months’ prior written notice before the
      expiration of the Agreement.

            

    

    

    
      	
               
      

            	
              9.2

            	
              This
      Agreement shall not be terminated by Party B during the term but Party A
      can terminate this Agreement at any time without cause, by giving 30 day's
      prior written notice to Party
B.

            

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              9.3

            	
              If
      any term or provision of this Agreement is determined to be invalid,
      illegal or incapable of being enforced by any applicable laws and
      regulations, all other conditions and provisions of this Agreement will
      nevertheless remain in full force and effect. Upon such determination that
      any term or other provision is invalid, illegal or incapable of being
      enforced, the parties hereto will negotiate in good faith to modify this
      Agreement so as to effect the original intent of the Parties as closely as
      possible to the fullest extent permitted by applicable law in an
      acceptable manner to the end that the transactions contemplated hereby are
      fulfilled to the extent possible.

            

    

    

    
      	
               
      

            	
              9.4

            	
              No
      delay or omission by any Party in exercising the right, power or privilege
      hereunder shall be deemed as a waiver of such right, power or privilege.
      The single or partial exercise of any right, power or privilege shall not
      preclude any exercise of any other right, power or
    privilege.

            

    

    

    IN WITNESS WHEREOF, the
parties have duly executed this Agreement as of the date first written
above.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    
      
        	
                [SIGNATURE
      PAGE]

              	 
	 
      	 
	
                Party
      A: Hebei Chuang Lian Trade Co., Ltd.(seal)

              	 
	 
      	 
	
                Authorized
      Representative(signature):

              	 
	 
      	 
	 
      	 
	
                Party
      B: Hebei Hua An Investment Co., Ltd(seal)

              	 
	 
      	 
	
                Authorized
      Representative(signature):

              	 

      

    

     

    
      
         

      

      
        6EQUITY
PLEDGE AGREEMENT

      

      This
equity pledge agreement (this “Agreement”) is made on the 26th day of
November, 2008, at Shijiazhuang, the People’s Republic of China (the “PRC”) by
and among the following parties:

      

      
        	
                (1)

              	
                Hebei
      Chuang Lian Trade Co., Ltd. ( “Pledgee”)

              

      

      Registered
Number: 130000400002919

      Registered
Address: 322 East Zhongshan Road, Shijiazhuang

      Legal
representative: Zhang Zhongwen

      

      
        	
                (2)

              	
                Hebei
      Hua An Investment Co., Ltd. (“Pledgor”)

              

      

      Registration
Number: 130000000002866

      Registered
Address: 322 East Zhongshan Road, Shijiazhuang

      Legal
representative: Guo Zhongqi

      

      WHEREAS:

      

      1.  Pledgor,
a limited liability company registered and existing under the laws of PRC, hold
the ownership interest of 【22】 4S Stores 【in the
jurisdiction of china】. (“the 4S
Stores”) (the
amount of capital and percentage of ownership hold by Pledgor in 4S Stores set
forth in schedule hereto)

      

      2.  Pledgee,
a wholly foreign owned enterprise organized and existing under the laws of the
PRC.

      

      3.  Pledgee
and Pledgor both agree, Pledgor shall assign and transfer the equity interests
of 4S Stores to Pledgee unconditionally and perform the obligations (hereinafter
“Security Obligation” )of Option Agreement(hereinafter “Transaction Agreement ”
)which signed by Pledgor and Pledgee good and completely after the Pledgee have
authorized.

      

      4.  The
Pledgor agrees to pledge all of his equity interest in the 4S Stores to Pledgee
as collateral for securing his obligations.

      

      NOW THEREFORE, through mutual
consents, the Parties have reached the following
agreements:

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      

      1.  DEFINITIONS

      

      Unless
otherwise provided, the definitions below shall have the following meanings
throughout this Agreement:

      

      1.1  PLEDGES:
means all the right and beneficial interest set forth at the Clause 2 of this
Agreement.

      

      1.2  EQUITY
INTEREST: means any and all the equity interests of 4S Stores held by Pledgor
legally and the rights and interests in connection with the equity interests in
the meantime and in the future.

      

      1.3  EVENT
OF DEFAULT: means any event set forth at the Clause 8 herein.

      

      1.4  NOTICES
OF THE EVENT OF DEFAULT: means the notices delivered by the Pledgee for the
purpose of declare the event of default pursuant to this Agreement.

      

      2.  THE
PLEDGED INTERESTS

      

      2.1  Pledgor
hereby pledge all its equity interests in 4S Stores to secure performance of all
obligations, penalties, damages, costs of exercising the pledged interests and
any indebtedness to Pledgee pursuant to the terms of the Transaction
Agreement.

      

      2.2  The
Pledge Interests hereunder means the rights and interests owned by Pledgee and
take the right to request first priority repayment which Pledgor pledge its
equity interest to Pledgee as collateral for securing his
obligation.

      

      2.3  Unless
the Pledgee otherwise consent in writing after the execution of this Agreement,
the pledge under this Agreement shall be valid until the obligations have been
fully discharged and have been permitted by Pledgee in writing.

      

      3.  NATRUE
OF PLEDGE

      

      3.1  The
pledge under this Agreement shall not be affected by any other pledge or
security interest in accordance with security obligation, and not affect the
effectiveness of any other pledge or security interest.

      

      3.2  The
right of Pledgor and Pledgee hereunder shall not be affected or waived at any
circumstance set forth below:

      

            
3.2.1  Any extension, waiver, relief or termination of the obligations
of any Party with the consent of Pledgee.

      

           
 3.2.2  Any amendment, mortification or supplementary of the
Transaction Agreement.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

        
    3.2.3 Any disposal, change or termination in connection
with any other pledge or guaranty on the secured obligation;

      

           
 3.2.4 Any agreement made by Pledgee and any other parties which may affect
the Pledged Interests;

      

        
    3.2.5 Any delay, performance, breach or mistake in
connection with exercising of rights by Pledgee under this
Agreement.

      

        
    3.2.6 Any acknowledgement of illegality, invalidity or
unenforceability of any transaction or its performance, or

      

        
    3.2.7 Any other event which may affect any Pledgor’s
obligation under this Agreement.

      

      4.  EFFECTIVENESS

      

      4.1  This
Agreement becomes effective upon the entry of such pledge into the shareholder’s
register of Administration Bureau of Industry and Commerce.

      

      4.2  During
the term of pledge, provide the Pledgor fail to performance of its security
obligation, the Pledgee entitle the right to exercise the rights subject to this
Agreement.

      

      5.  THE
POSSESSION OF CERTIFICATE

      

      5.1  The
Pledgor shall put the certificate of capital (original) on 4S Stores under the
safekeeping of the Pledgee during the pledge term provided by this Agreement.
The Pledgor shall deliver the certificate (original) and the appropriate
evidence which can prove the pledge has been entered into the Register of
Shareholders to Pledgee within one (1) week.

      

      5.2
Without prior written consent of Pledgee, Pledgor shall not declare or
distribute any income (if any, including but not limitation, dividend and
profit), such income shall be deemed as collateral for securing their
obligations. Pledgor shall transfer such income generated by the said equity
interests to a bank account designated in writing by Pledgee.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      6.  REPRESENTATIONS
AND WARRANTIES

      

      Pledgor
hereby represents and warrants to the Pledgee set forth as below, and
acknowledges that the execution and enforcement hereof by Pledgee is depended
upon the represents and warrants herein:

      

      6.1  4S
Stores are enterprises established and existing under the laws of the
PRC.

      

      6.2  4S
Stores have had any and all necessary approval, authorization and permission
from government, and have accomplished all the registration and
filing.

        

      6.3  The
Pledgor has the capacity for civil right and capacity for civil conduct for
execute and perform this Agreement.

      

      6.4 The
execution and performance of this Agreement by Pledgor shall not conflict with
the Article of Association of the 4S Stores or any other relevant documents. The
Pledgor has obtained any and all necessary approvals and authorizations for the
execution and performance of this Agreement.

      

      6.5  The
execution and performance of this Agreement will not violate any laws or
regulations of the PRC, or violate any conditions of licenses, authorities,
notices or any other governmental documents necessary, or conflict with or
result in a breach or violation of any contracts or agreements to which Pledgor
is a party.

      

      6.6  The
Pledgor has paid up the registered capital according to the equity in connection
with 4S Stores under the PRC laws and obtained the capital verification report
issued by qualified certified public accounting firm.

      

      6.7  The
Pledgor has full right, title and interest in the Pledged Interests and free of
lien or other security interest other than the pledges created by this
Agreement.

      

      6.8  The
Pledgor or 4S Stores have not conducted any acts or actions which may material
adverse affect the assets, business of 4S Stores or the obligations of the
Pledgor until the date of execution.

      

      6.9  The
Pledgor have not pledged, assigned or otherwise transferred to any third party
any of their interest in the pledged Interests during the term.

      

      6.10 The
Pledgor have not pledged, mortgaged or created any other priority right in all
4S Stores’ asset except that the encumbrances have already
disclosed.

      

      6.11  
All the documents delivered from Pledgor to Pledgee are true, completed, and
accurate and contain no material misrepresentation or error.

      

      6.12 No
further intervention other than the applicable law in the event that the Pledgee
exercises its rights according to the terms and conditions under this Agreement
at any time.

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      

      6.13 The
Pledgee is entitled to acquire all right, title and interest to any of the
pledged interests or beneficial interests according to the terms and conditions
in this Agreement and under the PRC laws.

      

      6.14 On
the date of this Agreement entered, there is no civil or criminal legal
proceeding and arbitration is current or pending against Pledgor’s entry into
this Agreement or performance of their obligations hereunder.

      

      6.15 No
outstanding taxes, expenses due or unconsummated legal proceedings, procedures
which should have consummated as of the date of execution.

      

      6.16 All
or any provisions hereunder represent the real intention of parties, and each
party will legally bound by this Agreement.

      

      7.  CONVENANTS

      

      7.1  During
the terms of this Agreement, Pledgor hereby covenants to Pledgee as
follows:

      

      7.1.1  It
will not transfer the Pledged Interests or cause or allow the Pledged Interests
to be used as security for any other obligation that may affect Pledgee’s right
or beneficial without the prior written consent of Pledgee except that the
Pledgee require the Pledgor to assign or transfer the equity
interest.

      

      7.1.2
Without the Pledgee’s written consent, during the term from the signature of
this Agreement to the termination of the pledge hereunder, the Pledgor or the 4S
Stores shall not take any action involve in any event which will material
adversely affects the asset and business of the 4S Stores or the responsibility
of the Pledgor.

      

      7.1.3  Without
the Pledgee’s written consent, during the term from the execution of this
Agreement to the termination of the pledge hereunder, the Pledgor warranty that
the 4S Stores shall not pledge, mortgage or create any other restrictive right
in all or any of their asset.

      

      7.1.4 It
will comply with and enforce any and all applicable laws, rules and regulations
and deliver all the notices, instructions or advices within five(5) days to
Pledgee in the event that he received such notices, instructions and advices
from the authorized government entity, and conduct acts under the reasonable
instructions of Pledgee.

      

      7.1.5 It
shall promptly notify Pledgee of any event that may materially affect Pledgee’s
rights to any portion of the Pledged Interests or any of Pledgor’s guarantees or
obligations hereunder and follow the instructions of Pledgee.

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      

      7.1.6
Comply with the representations and warranties aforesaid at Clause 6 and keep it
effective.

      

      7.2  The
Pledgor agrees, the Pledgee is entitled to exercise the rights according to the
terms and conditions of this Agreement, and free from the intervention and
encumbrance from the Pledgor, its successor, assignor or any other
person.

      

      7.3  The
Pledgor hereby covenants to Pledgee, he will enter into and cause any other
person who affects the Pledged Interests to enter into any certificate, deed
which required by Pledgee in good faith, and/or conduct and cause any other
person who affects the Pledged Interests to conduct actions which required by
Pledgee. And it will enter into all the alter documents in connection with the
equity interest certificate with the Pledgee or any other person designated by
it, and provides all the necessary documents according to the Pledged Interests
to Pledgee during the reasonable term.

      

      7.4  
Pledgor shall comply with and perform all the guarantees, covenants, agreements,
represents and conditions. If it is failed to perform or performed in full, it
shall reimburse all the relevant losses and damages to Pledgee.

      

      8.  EVENT
OF DEFAULT

      

      8.1  Each
of the followings shall be deemed an Event of Default:

      

      8.1.1
Pledgor, its successors and agents fails to perform any security
obligation;

      

      8.1.2 Any
representation or warranty made by the Pledgor in Clause 6 herein contains a
material misrepresentation or error;

      

      8.1.3 Any
Pledgor breaches any of the warranties in Clause 6 or covenants made in Clause 7
herein;

      

      8.1.4 Any
Pledgor breaches any clauses under this Agreement;

      

      
        8.1.5 Any
Pledgor transfers the Pledged Interest without the prior written consent of
Pledgee, except as provided in Clause 7.1.1 herein;

      

      

      8.1.6
Loans, encumbrances, indemnities, promises or any other remedies arising in
connection with breach which demands that Pledgor immediately perform all the
obligations including payment of all outstanding payments due leads the Pledgee
believe that the Pledgor’s ability to perform his or her obligations under this
Agreement has been adversely affected.

      

      8.1.7
Pledgor cannot satisfy its indebtedness or any other debt;

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      

      8.1.8 The
promulgation of any applicable laws or regulations renders this Agreement
illegal or makes the Pledgor’s performance under this Agreement
impossible.

      

      8.1.9 Any
approval, license, permit or authorization of government agencies that makes
this Agreement enforceable, legal and effective is withdrawn, terminated,
invalidated or substantively changed.

      

      8.1.10 A
adversely change occurring in the financial conditions of Pledgor leads Pledgee
to believe the Pledgor’s ability to perform his or her obligations under this
Agreement has been adversely affected.

      

      8.1.11
The discontinuance, termination, forced closure or liquidation of the Pledgor or
4S Stores.

      

      8.1.12
Any other event precludes Pledgee to exercise its pledge right under the
applicable laws.

      

      8.2  Pledgor
shall immediately notify Pledgee in writing upon the incident of any Event of
Default or any event which with lapse of time and/or notice will constitute an
Event of Default.

      

      8.3  Unless
the Event of Default specified in Clause 8.1 aforesaid has been resolved
satisfaction, Pledgee may deliver a written notice of default to Pledgor, which
demands that Pledgor immediately perform all the obligations or enforces or
disposes of the Pledged Interest in accordance with the Clause 9 under this
Agreement.

        

      9.  ENFORCEMENT
OF PLEDGES

      

      9.1  Prior
to the Pledgor’s security obligation has been discharged, Pledgor shall not
transfer its equity interest without prior written consent of
Pledgee.

      

      9.2 An
Enforcement Notice shall be delivered to Pledgor before Pledgee exercise its
Pledge right under this Agreement.

      

      9.3  Subject
to Clause 8.3, from and including delivery of the Default Notice under this
Agreement, Pledgee shall become entitle to exercise the right of Pledged
Interest at its sole discretion.

      

      9.4  Pledgee
is entitled to enforce the pledges of first order in priority by dispose of the
pledge interests hereunder legally.

      

      9.5  The
Pledgor shall not hinder and shall take necessary assistance for the enforcement
of pledges by Pledgee.

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

       

      10.  ASSIGNMENTS

      

      10.1
Without Prior written consent by Pledgee, the Pledgor shall not assign or
transfer all or any of its rights or obligation under this
Agreement.

      

      10.2 This
Agreement shall have binding force on Pledgor and its successors and assigns,
and this Agreement is in full force and effect for the Pledgee and its
successors and assigns.

      

      10.3
Pledgee may transfer or assign the security obligation to any third party
designated by it. In that event, the assignee shall have the same rights and
obligations as the Pledgee under this Agreement. The Pledgor shall execute
relevant agreements or documents in connection with the assignment upon received
the request of Pledgee.

      

      10.4 The
Parties shall execute a new pledge equity agreement provide the verification of
the Pledgee which caused by assignment.

      

      11.  BREACH
OF AGREEMENT

      

      11.1  
Any breach of provisions under this Agreement, or Pledgor fails to perform the
obligation of security in time, or the breach of contract pursuant to the
sub-clause 8.1 shall deem as breach of agreement by Pledgor. Pledge may notify
the Pledgor in writing to ask for correction and take actions to eliminate the
consequence and indemnify Pledgee for its breach pursuant to specifications
under this Agreement.

      

      11.2  
In the event of breach by Pledgor, the Pledgee may terminate the performance of
obligations hereunder temporarily by deliver a written notice to Pledgor in
consideration that the performance is impossible or unfair until the Pledgor
take the actions to eliminate the consequence and indemnify the costs arising in
connection with the breach.

      

      11.3  
Pursuant to this clause, Pledgee is entitle the right to claim Pledgor to be
compensated for all losses, including the direct economic losses, any reasonably
foreseeable indirect economic losses and related costs arising there from,
including but not limited to legal fees, litigation costs , arbitration fees and
travel expenses.

      

      12.  TERMINATION

      

      This
Agreement shall be terminated upon the performance of the obligation of security
by Pledgor is completed, then Pledgee shall cancel or terminate this Agreement
as soon and reasonable as practicable. The Pledgor shall not terminate this
Agreement in any reason by any way without the consent of the
Pledgee.

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      

      13.  COMMISSION
AND OTHER FEES

      

      13.1 Any
and all costs and actual expenses incurred in connection with this Agreement,
including, without limitation, any legal fees, disbursements, stamp duties or
any other taxes and fees are undertaken by the Pledgor. The Pledgor shall
compensate the Pledgee for costs and expenses which was undertaken by the
Pledgee pursuant to the applicable laws.

      

      13.2  Pledgor
shall undertake any and all costs and expenses (including, without limitation,
taxes, commission charges, administration fees, legal fees, fees of attorney and
any insurance fees) in the event that Pledgor fail to pay any or all of taxes,
expenses or for any other reason that cause Pledgee have such
claim.

      

      14.  GOVERNING
LAW AND SETTLEMENT OF DISPUTES

      

      14.1    
 The execution, effectiveness, performance, construction and settlement of
disputes shall be governed by the laws of the PRC.

      

      14.2      In
the event of any dispute with respect to or in connection with the construction
and performance of the provisions of this Agreement, the Parties shall first
negotiate in good faith to resolve the dispute. In the event the Parties fail to
reach an agreement on the resolution of such a dispute, any Party may submit the
relevant dispute to China International Economic and Trade Arbitration
Commission in Shijiazhuang for binding arbitration. The languages used during
arbitration shall be Chinese. The arbitration shall be final and binding by both
Parties.

      

      14.3      The
Parties shall in good faith in all other respects continue their implementation
of this Agreement except issues in dispute between the Parties.

      

      15.  NOTICES

      

      All the
notices or other communications given or made pursuant hereto shall be sent in
writing in Chinese and delivered to the address as specified below by personally
delivery, registered mail pre-paid post, courier or facsimile
transmission.

      

      
        	
                Pledgee:

              	
                Hebei
      Chuang Lian Trade Co., Ltd.

              

      

      
        	
                Address:

              	
                322
      East Zhongshan Road, Shijiazhuang

              

      

      
        	
                Facsimile:

              	
                0311-83819636

              

      

      
        	
                Telephone:

              	
                0311-83827688

              

      

      
        	
                Attention:

              	
                Zhang
      Zhongwen

              

      

      

      
        	
                Pledgor:

              	
                Hebei
      Hua An Investment Co., Ltd.

              

      

      
        	
                Address:

              	
                322
      East Zhongshan Road, Shijiazhuang

              

      

      
        	
                Facsimile:

              	
                0311-85068891

              

      

      
        	
                Telephone:

              	
                0311-85068889

              

      

      
        	
                Attention:

              	
                Guo
      Zhongqi

              

      

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      

      16.  SCHEDULES
AND ANNEXES

      

      All
schedules are an integral part of this Agreement.

      

      17.  WAIVER

      

      No delay
or omission by Pledgee in exercising the right, remedy, power or privilege by
this Agreement shall be deemed as a waiver of such right, remedy, power or
privilege. The single or partial exercise of any right, remedy, power or
privilege shall not preclude any exercise of any other right, remedy, power or
privilege. The right, remedy, power or privilege under this Agreement is
cumulative and are not exclusive of any right, remedy, power or privilege
provided by laws.

      

      18.  MISCELLANEOUS

      

      18.1       No
amendment, supplementary or modification of this Agreement shall occur except in
writing. The amendment agreement and supplementary agreement that have been
signed and sealed by the Parties shall have the same validity as this
Agreement.

      

      18.2       In
the event that any provision of this Agreement is determined to be invalid or
unenforceable in any respect in accordance with the applicable laws, the
validity or enforceability of the remaining provisions of this Agreement shall
not be affected.

      

      18.3       This
Agreement is signed in quadruplicate originals, with each of equally binding
force.

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      

      
        	
                [REMAINEDR
      OF PAGE INTENIONALLY LEFT BLANK]

              	 
      
	 
      	 
      
	
                [SIGNATURE
      PAGE]

              	 
      
	 
      	 
      
	
                PLEDGEE:
      Hebei Chuang Lian Trade
      Co., Ltd.(SEAL)

              	 
      
	 
      	 
      
	
                AUTHORIZED
      PERSON:(SIGNATURE
      ):

              	 
      
	 
      	 
      
	 
      	 
      
	
                PLEDGOR:
      Hebei Hua An Investment
      Co., Ltd.(SEAL)

              	 
      
	 
      	 
      
	
                AUTHORIZED
      PERSON:(SIGNATURE
      ):

              	 
      

      

       

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      

      SCHEDULE

      

      THE
AMOUNT OF CAPITAL AND PERCENTAGE OF OWNERSHIP HOLD BY
PLEDGOR

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      

      SCHEDULE

      THE
AMOUNT OF CAPITAL AND PERCENTAGE OF OWNERSHIP HOLD BY

      PLEDGOR

       

      
        	
                NO.

              	 
      	
                4S STORE

              	 
      	
                Capital (RMB 0000’)

              	 
      	
                Equity

                Percentage

              	 
      	
                Note

              
	
                1

              	 
      	
                Hebei
      Liantuo Auto Trade Co., Ltd.

              	 
      	
                1800

              	 
      	
                90%

              	 
      	 
      
	
                2

              	 
      	
                Hebei
      Yitong Auto Sales and Service Co., Ltd.

              	 
      	
                600

              	 
      	
                60%

              	 
      	 
      
	
                3

              	 
      	
                Hebei
      Shengda Auto Trade Co., Ltd.

              	 
      	
                800

              	 
      	
                80%

              	 
      	 
      
	
                4

              	 
      	
                Shijiazhuang
      Yuhua Toyota Auto Sales and Service Co., Ltd.

              	 
      	
                800

              	 
      	
                80%

              	 
      	 
      
	
                5

              	 
      	
                Hebei
      Shengwen Auto Trade Co., Ltd.

              	 
      	
                950

              	 
      	
                95%

              	 
      	 
      
	
                6

              	 
      	
                Hebei
      Shengkang Auto Trade Co., Ltd.

              	 
      	
                1000

              	 
      	
                100%

              	 
      	 
      
	
                7

              	 
      	
                Cangzhou
      Yichang Auto Sales and Service Co., Ltd.

              	 
      	
                275

              	 
      	
                55%

              	 
      	 
      
	
                8

              	 
      	
                Zhangjiakou
      Meihua Auto Trade Co., Ltd.

              	 
      	
                480

              	 
      	
                80%

              	 
      	 
      
	
                9

              	 
      	
                Qinhuangdao
      Jianda Auto Sales and Service Co., Ltd.

              	 
      	
                700

              	 
      	
                70%

              	 
      	 
      
	
                10

              	 
      	
                Hengshui
      Dechang Auto Trade Co., Ltd.

              	 
      	
                420

              	 
      	
                70%

              	 
      	 
      
	
                11

              	 
      	
                Shijiazhuang
      Baohe Auto Sales and Service Co., Ltd.

              	 
      	
                900

              	 
      	
                60%

              	 
      	 
      
	
                12

              	 
      	
                Hebei
      Anchang Auto Sales and Service Co., Ltd.

              	 
      	
                375

              	 
      	
                75%

              	 
      	 
      
	
                13

              	 
      	
                Hebei
      Yuanxinghang Auto Sales and Service Co., Ltd.

              	 
      	
                1000

              	 
      	
                100%

              	 
      	 
      
	
                14

              	 
      	
                Hebei
      Meifeng Auto Sales and Service Co., Ltd.

              	 
      	
                500

              	 
      	
                100%

              	 
      	 
      
	
                15

              	 
      	
                Cangzhou
      Deyuan Auto Trade Co., Ltd.

              	 
      	
                560

              	 
      	
                70%

              	 
      	 
      
	
                16

              	 
      	
                Baoding
      Tianhua Auto Trade Co., Ltd.

              	 
      	
                1000

              	 
      	
                100%

              	 
      	 
      
	
                17

              	 
      	
                Cangzhou
      Hengyuan Auto Sales and Service Co., Ltd.

              	 
      	
                150

              	 
      	
                30%

              	 
      	 
      
	
                18

              	 
      	
                Tangshan
      Bo’an Auto Sales and Service Co., Ltd.

              	 
      	
                500

              	 
      	
                100%

              	 
      	 
      
	
                19

              	 
      	
                Handan
      Baohe Auto Sales and Service Co., Ltd.

              	 
      	
                500

              	 
      	
                100%

              	 
      	 
      
	
                20

              	 
      	
                Tangshan
      Yachang Auto Sales and Service Co., Ltd.

              	 
      	
                500

              	 
      	
                100%

              	 
      	 
      
	
                21

              	 
      	
                Handa
      Yacheng Auto Sales and Service Co., Ltd.

              	 
      	
                500

              	 
      	
                100%

              	 
      	 
      
	
                22

              	
                  

              	
                Hengshui
      Yuhua Toyota Auto Sales and Service Co., Ltd.

              	
                  

              	
                700

              	
                  

              	
                70%

              	
                  

              	 
      

      

       

      
        
           

        

        
          13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}]]