Document:

Exhibit 10.23

 

Confidential treatment has been requested for redacted portions of this exhibit.

This copy omits the information subject to the confidentiality request. Omissions are designated as ***.

A complete version of this exhibit has been provided separately to the Securities and Exchange Commission.

 

Supplemental Agreement (III) to Naquhua Business Cooperation Agreement

 

Party A: Anquying (Shanghai) Investment Consulting Co., Ltd.  

 

Legal Representative: Chen Bingqing

 

Registered Address: Room 309-B, No. 89 East Yunling Road, Putuo District, Shanghai

 

Contact Person: Zhang Yifan

 

Telephone: ***********

 

Party B: Xi’an Quxie Financial Services Co., Ltd. 

 

Legal Representative: Wang Yi

 

Registered Address: A2402-40, Tower B, Kairui Tower, Mingguang Road, Economic and Technological Development Area, Xi’an

 

Contact Person: Hao Xinhua

 

Telephone: ***********

 

This Agreement is executed on May 1, 2018 in Haidian District, Beijing.

 

 

WHEREAS:

 

Party A and Party B (collectively, the “Parties”, each a “Party”) have entered into the Naquhua Business Cooperation Agreement on December 25, 2017 (the “Master Agreement”), prescribing that the Parties cooperate with each other to carry out the “Naquhua” business.  The Parties have entered into the Supplemental Agreement (I) to the Naquhua Business Cooperation Agreement on February 5, 2018 (the “Supplemental Agreement I”), which amended Section 7.1, Section 7.2 and Section 7.3 of Chapter 7 (Payment of Expenses) of the Master Agreement.

 

NOW THEREFORE, on the basis of voluntariness, equality and mutual benefits, and upon sufficient negotiation between Party A and Party B, the Parties hereby reach the following supplemental agreement (this “Agreement”) based on the agreements aforesaid, which the Parties will mutually comply with.

 

1.              Unless otherwise prescribed by this Agreement, terms of this Agreement shall have the same meaning given to such terms in the Master Agreement and the Supplemental Agreement I.  Terms that have not been defined in this Agreement, the Supplemental Agreement I or any other agreement executed by the Parties shall be interpreted in accordance with the relevant laws, regulations and the industry practice.

 

2.              The Parties agree to amend Section 7.1 of Chapter 7 prescribed under the Master Agreement and the Supplemental Agreement I into the following provision:

 

7.1    The application technical service fee (alternatively referred to as the “Technical Service Fee”) prescribed in this section includes technical service fees incurred by the account activation and/or the user’s first expenditure.

 

7.1.1  With respect to the users applying for payment by using Naquhua through Ctrip.com (the “Ctrip Users”), Party A shall pay the Technical Service Fee to Party B in accordance with the following conditions:

 

(1) With respect to the Ctrip Users who activated Naquhua business before June 14, 2017 (inclusive), if Party A has performed its relevant obligation to pay the Technical Service Fee, Party B shall not require Party A to pay any additional Technical Service Fee due to the foregoing user’s first time use of Naquhua business after this Agreement becomes effective.

 

(2) With respect to the Ctrip Users who activated Naquhua business during June 15, 2017 (inclusive) and August 17, 2017 (inclusive), if Party A has performed its relevant obligation to pay the Technical Service Fee:

 

in the event there is any Technical Service Fee outstanding due to the foregoing user’s first time purchase within 365 days (inclusive) after the date of activation, such service fee shall be settled at the rate of RMB***/person. In the event of exceeding 365 days after the date of activation, Party B shall not require Party A to pay any additional Technical Service Fee due to the foregoing user’s first time use of Naquhua business.

 

Confidential treatment has been requested for redacted portions of this exhibit. This copy omits the information subject to the confidentiality request. Omissions are designated as ***. A complete version of this exhibit has been provided separately to the Securities and Exchange Commission.

 

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(3) Starting from August 18, 2017 (inclusive), the Technical Service Fee incurred by the Ctrip User’s activation and first time use of Naquhua business shall be settled at the rate of RMB***/person.

 

7.1.2 With respect to the users applying for payment by using Naquhua through Qunar.com (the “Qunar Users”), Party A shall pay Party B the Technical Service Fees in accordance with the following conditions:

 

(1) With respect to the Qunar Users who activated Naquhua business before August 17, 2017 (inclusive), if Party A has performed its relevant obligation to pay the Technical Service Fee, Party B shall not require Party A to pay any additional Technical Service Fee due to the foregoing user’s first time use of Naquhua business after this Agreement becomes effective.

 

(2)  Starting from August 18, 2017 (inclusive), the Technical Service Fee incurred by the Qunar Users’ activation and first time use of Naquhua business shall be settled at the rate of RMB ***/person.

 

7.1.3 The charging standard prescribed under this section shall be retrospective to the period from the date when Party A entered into cooperation in respect of Naquhua service with Party B and Party B’s affiliates or partners on Ctrip.com and Qunar.com, until the termination of this Agreement.

 

3.              This Agreement, the Master Agreement and the Supplemental Agreement I constitute all the agreements between the Parties with respect to the subject matter under the Master Agreement, and shall replace all the prior discussions, negotiations and agreements between the Parties with respect to the subject matter under the Master Agreement.  Any agreement and its supplemental agreement with respect to Naquhua business made by and between Party A and Party B, Party B’s affiliates or partners before execution of the Master Agreement shall be terminated upon this Agreement takes effect, however, all the relevant matters with respect to borrowings already accrued pursuant to the original agreement shall be performed and settled pursuant to the original agreement, except those with respect to payment of Technical Service Fee by Party A to Party B, Party B’s affiliates or partners.

 

4.              This Agreement shall, upon effective, constitute integral part of the Master Agreement, and shall bear the same legal effect as the Master Agreement.  In the event there is any discrepancy between this Agreement, the Master Agreement and the Supplemental Agreement I, this Agreement shall prevail, and other provisions of the Master Agreement and the Supplemental Agreement I shall continue to be binding upon both Parties.

 

5.              This Agreement shall be executed by both Parties in two (2) copies, each holding one (1) copy.  Each copy bears the same legal effect.

 

6.              This Agreement shall become effective upon being affixed with the company chop or contract chop by both Parties on the date first written above.

 

[remainder of this page left intentionally blank]

 

Confidential treatment has been requested for redacted portions of this exhibit. This copy omits the information subject to the confidentiality request. Omissions are designated as ***. A complete version of this exhibit has been provided separately to the Securities and Exchange Commission.

 

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(the sealing block of Supplemental Agreement (III) to Naquhua Business Cooperation Agreement)

 

Party A: Anquying (Shanghai) Investment Consulting Co., Ltd. (seal)

 

/s/Anquying (Shanghai) Investment Consulting Co., Ltd.

 

(company chop)

 

Party B: Xi’an Quxie Financial Services Co., Ltd. (seal)

 

/s/Xi’an Quxie Financial Services Co., Ltd.

 

4Exhibit 10.32

 

Loan Agreement

 

This Loan Agreement (hereinafter referred to as “this Agreement”) is executed in Chaoyang District Beijing on July 14, 2018 between:

 

Lender: Xijin (Shanghai) Venture Capital Investment Management Co., Ltd.

Address: Room 212-A, No. 89 Yunling East Road, Putuo District, Shanghai

 

Borrower: Shenzhen Qianhai Minheng Business Factoring Co., Ltd.

Address: Room 201, Building A, No. 1 Qianwan 1st Road, Qianhai SZ-HK Cooperation Zone, Shenzhen (registered with Shenzhen Qianhai Business Secretary Co., Ltd.)

 

WHEREAS the Lender intends to provide the Borrower with a fund for the purposes specified in this Agreement, the parties hereby execute this Agreement as follows:

 

1. Loan

 

1.1       Pursuant to the terms and conditions of this Agreement, the Lender agrees to provide the Borrower with a loan amounting to RMB70,000,000 (say Renminbi seventy million yuan only)(hereinafter referred to as the “Loan”).

1.2       The loan shall be released to the Borrower subject to Article 4 of this Agreement.

1.3       The term of the Loan is one year from the date of remittance of the Loan to the Borrower’s bank account, with 365 days being considered as one year (“Term of Loan”). The Term of Loan is renewable if both parties agree.

1.4       The Lender agrees that the interest rate of the Loan within the Term of Loan specified in Article 1.2 is annualized at 10.3%.

 

2. Purposes of the Loan

 

2.1 Both parties agree that the Loan under this Agreement is available to the Borrower for the purpose of liquidity support.

 

3. Repayment

 

3.1 The Borrower shall repay the Loan to the Lender in a lump sum on the date of expiry of the Term of the Loan (“Repayment Date”). Both parties agree that the Borrower has the right to discharge part or all of the Loan in advance of the Repayment Date, and, in this case, the interest shall accrue to the extent of the then date of repayment by the Borrower.

3.2 The Lender and the Borrower hereby agree and acknowledge that the Borrower shall pay off the Loan without any conditions and without the need of a notice from the Lender.

 

4. Prerequisites

 

4.1 The Loan under this Agreement shall be rendered by the Lender to the Borrower subject to the following conditions (the Lender has the right but no obligation to waive any or all of the loan release prerequisites provided in Article 4.1):

 

 

(1)   The Borrower’s representations and warranties are true, accurate and complete on the date of rendering the Loan by the Lender;

(2)   The Borrower acknowledges that, on or before the date of rendering the Loan by the Lender, no significant event has material adverse effect on the Borrower or its financial standing occurs, nor does any event have material adverse effect on the Borrower’s legal rights capacity, civil capacity and financial standing.

 

5. Representations and warranties

 

5.1 The Lender hereby represents and warrants as follows:

 

(1) The Lender is a limited liability company legally established and effectively existing under the laws of the People’s Republic of China;

(2) The Lender has the right to sign this Agreement and perform the obligations under this Agreement;

(3) The obligations imposed on the Lender by this Agreement are effective and binding upon it, and are enforceable in accordance with the terms and conditions of this Agreement; and

(4) The source of funds available as the Loan under this Agreement is legitimate, and is not earnings from, derived from, or characterized by criminal offenses such as drug crimes, underworld organized crimes, terrorist crimes, smuggling crimes, corruption and bribery crimes, financial management order crimes, and financial fraud crimes, and is not in any connection with violation of the Anti-money Laundering Law of the People’s Republic of China and other laws and regulations.

 

5.2 The Borrower hereby represents and warrants as follows:

 

(1) The Borrower is a limited liability company legally established and effectively existing under the laws of the People’s Republic of China;

(2) The Borrower has the right to sign this Agreement and perform the obligations under this Agreement; and

(3) The obligations imposed on the Borrower by this Agreement are effective and binding upon it, and are enforceable in accordance with the terms and conditions of this Agreement.

 

6. Confidentiality obligations

 

6.1 The parties hereto acknowledge and determine that any oral or written information exchanged between them in connection with this Agreement is confidential. The parties hereto shall keep all such information confidential and shall not disclose any of such information to any third party without the prior written consent of the other party, except that: (a) the general public is, or is to be, aware of the information (which is not attributable to disclosure by a receiver of the information to the general public without permission; (b) the information is required by applicable laws or regulations to be disclosed; or (c) the information needs to be disclosed by a party to its board of directors or legal or financial advisors for the purpose of the transaction under this Agreement, provided that the directors and legal or financial advisors are also held obligated to keep confidentiality in a way similar to this confidentiality provision. The leak of the information, by a staff member or a recruited agency of a party hereto, shall be deemed as a leak by this party, in which case this party shall be liable for breach of contract in accordance with this Agreement. This provision shall survive regardless of the termination of this Agreement by any reason .

 

7. Liabilities for breach of contract

 

7.1 Either party hereto violating any provisions of this Agreement, failing to perform the obligations under this Agreement or disrupting performance of all or part of this Agreement shall bear the liability for breach of contract and indemnify the other party for any losses arising therefrom (including the consequential litigation fees and attorneys’ fees). In the event that both parties hereto breach the Agreement, the parties shall duly bear liabilities to the extent as the case may be.

 

 

8. Applicable laws and settlement of disputes

 

8.1 The law of the People’s Republic of China shall apply to the conclusion, effect, interpretation, performance, amendment, and termination of this Agreement as well as the settlement of disputes.

8.2 Any dispute arising from the interpretation or performance of this Agreement shall be settled by the parties hereto through friendly negotiation first. If the dispute is still pending within 30 days after the service of a written notice by one party to the other party with a request for negotiation of settlement, either party may lodge the dispute to the China International Economic and Trade Arbitration Commission, which will conduct arbitration in accordance with the then effective arbitration rules. The arbitration shall be conducted in Beijing in the Chinese language. The adjudication out of the arbitration is final and binding upon both parties.

 

9. Miscellaneous

 

9.1 Any amendment or supplement to this Agreement and appendices hereto shall be made in writing.

9.2 This Agreement shall become effective as of the date of signing and shall terminate upon complete discharge of all loans under this Agreement.

9.3 In the event that one or more of the provisions of this Agreement are adjudicated as invalid, illegal or unenforceable in whatsoever respect by any laws or regulations, the remaining terms of this Agreement shall not be prejudiced or impaired in any respect regarding effect, legality and enforceability. The parties hereto shall, through consultation of good faith, endeavor to replace those ineffective, illegal or unenforceable provisions with provisions that are legally permitted, expected by both parties and effective to the largest extent of the expectation of both parties; the economic effects of such effective provisions shall be similar to the economic effects of the ineffective, illegal and unenforceable provisions.

9.4 Matters not covered in this Agreement are subject to a separate written consensus of both parties through negotiation.

9.5 This Agreement is made in Chinese in duplicate, and each party holds one counterpart having the same legal effect.

 

(The following is intentionally left blank)

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement with immediate effect on the date first set forth above.

 

Lender: Xijin (Shanghai) Venture Capital Investment Management Co., Ltd. (seal)

/s/ Xinjin (Shanghai) Venture Capital Investment Management Co., Ltd.

	
Authorize Signature:
    	
/s/GUO Jia
    	
 
    

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement with immediate effect on the date first set forth above.

 

Borrower: Shenzhen Qianhai Minheng Business Factoring Co., Ltd. (seal)

/s/ Shenzhen Qianhai Minheng Business Factoring Co., Ltd.

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