Document:

EX-4.6

 Exhibit 4.6 

EQUITY PLEDGE AGREEMENT 
 This EQUITY
PLEDGE AGREEMENT (this “Agreement”) is executed by and among the following parties on April 24, 2019: 
 PLEDGEE: HODE SHANGHAI
LIMITED 
 Registered Address: Room 551, Level 5, No. 55 Jilong Road, China (Shanghai) Pilot Free Trade Zone 

PLEDGORS: CHEN RUI (Identity Card Number: ***) 

WHEREAS: 
  

	1.	 Mr. Chen Rui holds 100% of the equity interests in Shanghai Kuanyu Digital Technology Co., Ltd.
(hereinafter referred to as “Shanghai Kuanyu”). 

  

	2.	 The Pledgee is a wholly foreign-owned enterprise registered in Shanghai, China. The Pledgee and the Pledgors
have entered into the “Exclusive Technology Consulting and Services Agreement (hereinafter referred to as the “Service Agreement”) on April 24, 2019; the Pledgee, Shanghai Kuanyu and the Pledgors have entered into the
“Exclusive Call Option Agreement” (the “Exclusive Call Option Agreement”); each of the Pledgors has executed a Power of Attorney in favor of the Pledgee. The aforementioned “Exclusive Technology Consulting and
Services Agreement, “Exclusive Call Option Agreement” and “Power of Attorney” shall be collectively referred to as the “Transaction Documents”. 

 

	3.	 As a security for the performance of all contractual obligations under the Transaction Documents by the
Pledgors and Shanghai Kuanyu, each of the Pledgors hereby pledges all equity interests held by it in Shanghai Kuanyu in favor of the Pledgee. 

THEREFORE, upon consultations, the Parties hereby agree as follows: 
  

	1.	 DEFINITIONS 

Unless otherwise provided herein, the terms below shall have the following meanings: 

 

	 	1.1	 Pledgee’s Rights: means all contents listed in Article 3 herein. 

 

	 	1.2	 Pledged Equity Interests: means the equity interests in Shanghai Kuanyu legally held by the Pledgors, of which
100% held by Mr. Chen Rui. 

  

	 	1.3	 Term of Equity Pledge: means the term set forth in Article 4 of this Agreement. 

 

	 	1.4	 Event of Default: means any of the events set forth in Article 8 of this Agreement. 

 

	 	1.5	 Notice of Default: means a notice of an Event of Default issued by the Pledgee in accordance with this
Agreement. 

  

	2.	 THE PLEDGE 

  

	 	2.1	 The Pledgors and the Pledgee agree that in accordance with the terms and conditions herein, the Pledgor shall
pledge, in favour of the Pledgee, the Pledged Equity Interests for securing the complete and due performance of the contractual obligations. For avoidance of doubt, the “contractual obligations” herein means all obligations and
liabilities, representations, undertakings and warranties of the Pledgors under the Transaction Documents, as well as all obligations and liabilities, representations, undertakings and warranties of Shanghai Kuanyu under the Transaction Documents.

  

	 	2.2	 The Pledgors and Shanghai Kuanyu shall use their best efforts to register the equity pledge (“Equity
Pledge”) hereunder with the industrial and commercial registration authority as soon as practicable upon the execution of this Agreement, and use their best efforts to maintain the validity of the registration of the equity pledge.

  
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	3.	 THE PLEDGEE’S RIGHTS 

 

	 	3.1	 Each of the Pledgors pledges all equity interests held by it in Shanghai Kuanyu in favor of the Pledgee as a
security for the performance of all contractual obligations under the Transaction Documents by the Pledgors and Shanghai Kuanyu. 

  

	 	3.2	 The Pledged Equity Interests shall be used to secure (the payment of) all service fees, liquidated damages (if
any), compensation and all fees arising from the realization of the Equity Pledge (including without limitation lawyer’s fee, arbitration fee, valuation and auction fees of the Pledged Equity Interests etc) that the Pledgee shall be entitled to
receive. 

  

	 	3.3	 The Pledgee’s Rights refer to the rights of Pledgee to be compensated in priority with proceeds from the
sale of the Pledged Equity Interests pledged by the Pledgors at discount, by auction or otherwise disposed of. 

  

	4.	 TERM OF PLEDGE 

 

	 	4.1	 The Equity Pledge under this Agreement shall become effective from the date on which it is registered with
relevant industrial and commercial registration authority where Shanghai Kuanyu is registered, until two years upon expiry of the period of performance of all obligations under the Transaction Documents. 

 

	5.	 CUSTODY OF CETIFICATES OF PLEDGEE’S RIGHTS; RETURNS ON THE PLEDGED EQUITY INTERESTS

  

	 	5.1	 During the Term of Equity Pledge provided in this Agreement, the Pledgors shall execute or procure Shanghai
Kuanyu to execute the capital contribution certificate (in the form set out in Appendix I) and the share registers (in the form set out in Appendix II), and deliver the abovementioned executed documents to the Pledgee who shall have custody over
such documents during the Term of Equity Pledge. 

  

	 	5.2	 The Pledgee shall have the right to collect all proceeds arising from the Pledged Equity Interests (if any)
including but not limited to dividends, stock interests and other cash and non-cash returns arising from the Pledged Equity Interests during the Term of Equity Pledge. 

 

	6.	 REPRESENTATIONS AND WARRANTIES OF PLEDGORS 

 

	 	6.1	 The Pledgee shall have the right to exercise, dispose of or transfer the Pledgee’s Rights in accordance
with the provisions of this Agreement. 

  

	 	6.2	 Each of the Pledgors severally and jointly represents, warrants and covenants to the Pledgee that:

  

	 	6.2.1	 he or she has full power to execute this Agreement and perform the obligations hereunder; he or she has granted
his or her representative the authority to execute this Agreement on his/her behalf. The provisions of this Agreement shall be legally binding on him or her from the effective date of this Agreement. 

 

	 	6.2.2	 he or she is the legal owner of the Pledged Equity Interests and is entitled to pledge the Pledged Equity
Interests in favor of the Pledgee; there will be no legal or factual obstacle on the Pledgee’s exercise of the Pledgee’s Rights in future. 

  

	 	6.2.3	 Shanghai Kuanyu is a limited liability company duly incorporated and validly existing under the laws of China,
which is officially registered with the competent industrial and commercial administration authority passing its annual surveys for all past years. The registered capital of Shanghai Kuanyu is RMB100,000,000, all of which has been duly paid.

  
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	 	6.2.4	 the execution, delivery and performance of this Agreement: 

 

	 	(a)	 will not be in conflict with, or result in a breach of any provision of the following documents, from time to
time or after receipt of relevant notice: (i) Shanghai Kuanyu’s business license, articles of association, permit, governmental approval of its incorporation, agreements in connection with its incorporation or other constitutional
documents, (ii) any other laws and regulations by which it is bound; (iii) any contract or other documents to which the Pledgors or Shanghai Kuanyu is a party or by which it or its assets are bound; 

 

	 	(b)	 will not cause any pledge or other encumbrances to be created by it or any third party over the assets of
Shanghai Kuanyu; 

  

	 	(c)	 will not cause any provisions of any contract or other documents to which Pledgors or Shanghai Kuanyu is a
party, or by which it or its assets are bound, to be terminated or amended by it or any third party; and 

  

	 	(d)	 will not cause the suspension, revocation, damages, confiscation or expiration without extension of any
applicable governmental approval, permit, registration, etc.. 

  

	 	6.2.5	 save for the Equity Pledge of the Pledgors under the Equity Pledge Agreement, there are no other mortgage,
pledge or other securities, right of priority, legal mortgage, property preservation, seizure, trust, lease, option or other encumbrances (hereinafter referred to as “Encumbrance”). 

 

	 	6.2.6	 any of the Pledgors may accept transfer of other Pledgors’ equity interests in Shanghai Kuanyu or
subscribe for capital increase in Shanghai Kuanyu with prior written consent of the Pledgee. Any equity interests transferred to and accepted by or any increase in the registered capital of Shanghai Kuanyu subscribed by the Pledgor shall be deemed
Pledged Equity Interests. Upon completion of the transfer of equity interests to the Pledgors or the capital increase of Shanghai Kuanyu, the Pledgors and Shanghai Kuanyu shall be responsible for recording changes to the Equity Pledge into the share
register of Shanghai Kuanyu and register the Equity Pledge with competent industrial and commercial registration authority. 

  

	 	6.2.7	 promptly notify the Pledgee of any event or notice received by the Pledgors that may have an impact on the
Pledgee’s Rights over the equity interests or any part thereof, as well as any event or notice received by the Pledgors that may change or have an impact on any warranties or obligations of the Pledgors under this Agreement.

  

	 	6.2.8	 where the Pledgee requires the relevant certification, permit, authorization or other relevant legal documents
in disposing of the Pledged Equity Interests pursuant to this Agreement, he or she shall unconditionally provide or procure such documents and provide assistance in all respects; the Pledgors undertakes that upon transfer of the Pledged Equity
Interests to the Pledgee or its designated beneficiary, the Pledgors and/or Shanghai Kuanyu shall unconditionally complete all procedures required by laws for the Pledgee or its designated beneficiary to acquire Shanghai Kuanyu’s equity
interests, including without limitation the issuance of relevant certification, the execution of the share transfer agreement or other relevant documents. 

  

	 	6.2.9	 covenants to the Pledgee that he or she will comply with and perform all warranties, covenants, agreements,
representations and conditions under this Agreement for the benefit of the Pledgee. In the event of failure or partial performance of its warranties, covenants, agreements, representations or conditions, the Pledgors shall indemnify the Pledgee
against all losses resulting therefrom. 

  
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	 	6.2.10	 each of the Pledgors warrants to the Pledgee that it has made appropriate arrangement and executed all
necessary documents to ensure that in the event of his or her death, loss of capacity, divorce or other circumstance that may affect his or her ability to exercise the rights of the equity interests, the performance of this Agreement shall not be
affected or impaired by persons who may acquire the equity interests or relevant rights as a result thereof such as his or her heir and successor, guardian, creditor or spouse. 

 

	7.	 COVENANTS BY THE PLEDGORS 

 

	 	7.1	 The Pledgors hereby covenants to the Pledgee that during the term of this Agreement, the Pledgors will:

  

	 	7.1.1	 Save for the equity interests transferred to the Pledgee or its nominee pursuant to the Exclusive Call Option
Agreement, without prior written consent of the Pledgee: 

  

	 	A.	 not transfer the Equity Interests, create or permit the existence of any new pledge or any other encumbrance
that may affect the rights and interests of the Pledgee; 

  

	 	B.	 not conduct any act that impairs or may impair the value of the Pledged Equity Interest or the validity of the
Equity Pledge hereunder. Where the Pledged Equity Interests value significantly decreases to the extent that is substantially impair the Pledgee’s Rights, the Pledgors shall immediately notify the Pledgee and, upon reasonable request by the
Pledgee, provide other assets as the security to the satisfaction of the Pledgee and take all necessary actions in resolving the aforesaid matter or mitigating the adverse effect. The Pledgors further undertake that during the term of this
Agreement, the operation of Shanghai Kuanyu shall comply with the laws of China in all material respects, and shall maintain the continuous validity of all the permits and licenses for all business of Shanghai Kuanyu. 

 

	 	7.1.2	 comply with and exercise in accordance with all laws and regulations applicable to the pledge of rights, and
within five days of receipt of any notice, instruction or recommendation issued or made by relevant competent authorities regarding the Equity Pledge, produce to the Pledgee and comply with the aforementioned notice, instruction or recommendation,
or make objections and statements with respect to the aforementioned matters upon reasonable request or with consent of the Pledgee; 

  

	 	7.1.3	 promptly notify the Pledgee of any event or notice received by the Pledgors that may have an impact on the
Pledgee’s Rights over the equity interests or any part thereof, as well as any event or notice received by the Pledgors that may change or have an impact on any warranties or obligations of the Pledgors under this Agreement.

  

	 	7.2	 The Pledgors agree that the exercise of rights acquired by the Pledgee with respect to the Equity Pledge in
accordance with this Agreement shall not be interrupted or hindered by the Pledgors or any heir or trustor of the Pledgors or any other persons through any legal proceedings. 

 

	 	7.3	 In order to protect or perfect the Pledged Equity Interests under this Agreement, the Pledgors hereby undertake
to execute in good faith and to procure other parties who may have an interest in the Equity Pledge to execute all certificates, agreements, deeds and/or covenants required by the Pledgee, and/or perform and procure other parties who may have an
interest in the Pledge to perform actions required by the Pledgee, facilitate the exercise by the Pledgee of its rights and authority granted thereto by this Agreement, and enter into all relevant documents regarding the change of ownership of
equity interest with the Pledgee or its designated person(s) (natural/legal persons). The Pledgors undertake to provide the Pledgee within a reasonable time with all notices, orders and decisions in connection with the Equity Pledge which is deemed
necessary by the Pledgee. 

  
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	 	7.4	 The Pledgors hereby undertake to the Pledgee that they will comply with and perform all warranties, covenants,
agreements, representations and conditions under this Agreement. In the event of failure or partial performance of its warranties, covenants, agreements, representations or conditions, the Pledgors shall indemnify the Pledgee against all losses
resulting therefrom. 

  

	 	7.5	 Each of the Pledgors irrevocably agrees to waive its right of first refusal in relation to the Pledged Equity
Interests pledged to the Pledgee by other Pledgors in the event of the exercise of the Pledgee’s Rights by the Pledgee. 

  

	8.	 EVENT OF DEFAULT 

 

	 	8.1	 The following events shall be deemed an Event of Default: 

 

	 	8.1.1	 that Shanghai Kuanyu fails to fully fulfil its contractual obligations under the Transaction Documents;

  

	 	8.1.2	 that any representation or warranty made by the Pledgors or any part thereof in Article 6 herein is materially
misleading or false, and/or that the Pledgors are in breach of any of the representations or warranties listed in Article 6 herein; 

  

	 	8.1.3	 that the Pledgors are in breach of any provisions herein; 

 

	 	8.1.4	 save as provided in Article 7.1.1 herein, that the Pledgors transfer or otherwise dispose of the Pledged Equity
Interests without written consent from Pledgee; 

  

	 	8.1.5	 that any borrowings, security, compensation, commitments or other liabilities of the Pledgors (1) are
required to be early repaid or performed due to a breach; or (2) are due but unable to be repaid or performed, which leads the Pledgee to believe that the ability of the Pledgors to perform the obligations herein has been affected;

  

	 	8.1.6	 that the Pledgors are unable to repay its general debts or any other indebtedness; 

 

	 	8.1.7	 that this Agreement becomes illegal or the Pledgors are unable to continue with the performance of their
obligations under this Agreement due to promulgation of relevant laws; 

  

	 	8.1.8	 where all consents, permits, approvals or authorizations of governmental authorities necessary for the
legality, validity and enforceability of this Agreement are withdrawn, suspended, void or materially changed; 

  

	 	8.1.9	 that any adverse change to the assets owned by the Pledgors, which leads the Pledgee to believe that the
ability of the Pledgors to perform the obligations herein has been affected; 

  

	 	8.1.10	 that the successor, heir or trustee of Shanghai Kuanyu may only partially perform or refuse to perform its
payment obligation under the Service Agreement; 

  

	 	8.1.11	 other circumstances under which the exercise of the Pledgee’s rights are prohibited by the applicable laws
and regulations. 

  
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	 	8.2	 Upon knowledge or discovery of the occurrence of any of the aforementioned events or any events that may lead
to the abovementioned events in Article 8.1, the Pledgors shall immediately notify the Pledgee in writing. 

  

	 	8.3	 Unless the Event of Default set forth in Article 8.1 has been completely rectified to the Pledgee’s
satisfaction, the Pledgee may issue a notice of default to the Pledgors in writing upon the occurrence of such Event of Default or at any time thereafter, demanding the Pledgors to immediately pay all outstanding amounts under the Service Agreement
and other amounts payable, or informing the Pledgors its exercise of the Pledgee’s Rights in accordance with Article 9 of this Agreement. 

  

	9.	 EXERCISE OF THE PLEDGEE’S RIGHTS 

 

	 	9.1	 In the event of any breach or non-performance of any contractual
obligations hereunder, the Pledgee is entitled to dispose of all or part of the Pledged Equity Interests held by any shareholder of Shanghai Kuanyu (regardless of whether such shareholder is in breach of any contractual obligations) and be
compensated in priority for the payments of the expenses listed in Article 3.2 from the proceeds from the disposal of the Pledged Equity Interests. 

  

	 	9.2	 Prior to full performance of the Service Agreement, the Pledgors shall not transfer or otherwise dispose of the
Pledged Equity Interests without written consent of the Pledgee. 

  

	 	9.3	 The Pledgee shall issue a written Notice of Default to Pledgors when exercising the Pledgee’s Rights.
Subject to the provisions in Article 10, the Pledgee may exercise the right to dispose of the Pledgee’s Rights concurrently with or at any time after the issuance of the Notice of Default in accordance with Article 10. 

 

	 	9.4	 Subject to the provisions in Article 8.3, the Pledgee may exercise its rights concurrently or at any time after
the issuance of the Notice of Default in accordance with Article 8.3. 

  

	 	9.5	 In the event of any breach or non-performance of any contractual
obligations hereunder, the Pledgee is entitled to sell at discount, by auction or otherwise dispose of all or part of the Pledged Equity Interests under this Agreement in accordance with legal procedures, and shall be compensated in priority with
the proceeds from the sale of such equity interests. 

  

	 	9.6	 When the Pledgee exercises the Pledgee’s Rights hereunder, the Pledgors shall not hinder but provide
necessary assistance for the realization of the Pledgee’s Rights by the Pledgee. 

  

	10.	 LIABILITIES FOR BREACH OF CONTRACT 

Unless otherwise provided in this Agreement, in the event that one Party (“Defaulting Party”) fails to perform any obligation
hereunder or otherwise breaches this Agreement, the other Party (“Non-Defaulting Party”) may: 
  

	 	A.	 issue a written notice to the Defaulting Party indicating the nature and scope of the breach, and demanding the
Defaulting Party to rectify (the breach) at its own cost within a reasonable period stipulated in the notice (“Rectification Period”); and 

  

	 	B.	 if the Defaulting Party fails to rectify (the breach) within the Rectification Period, the Non-defaulting Party shall be entitled to demand the Defaulting Party to indemnify it against all liabilities arising from the breach, and to compensate the Non-defaulting
Party for all its actual economic losses incurred as a result of the breach, including but not limited to the lawyer’s fee and legal expenses for litigation or arbitration in relation to such breach, in addition to the specific performance of
this Agreement by the Defaulting Party. The Non-defaulting Party may also apply to the applicable arbitration body or court for the order of specific performance and/or enforcement of the provisions herein.
The exercise of the aforesaid remedial rights shall not preclude the exercise of other remedies provided herein or under laws and regulations. 

  
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	11.	 ASSIGNMENT 

  

	 	11.1	 The Pledgors shall not assign or transfer their rights and obligations under this Agreement without prior
written consent of the Pledgee. 

  

	 	11.2	 This Agreement shall be binding on the Pledgors and their successors, and shall apply to the Pledgee and each
of its successors and assignees. 

  

	 	11.3	 The Pledgee may assign any or all of its rights and obligations under this Agreement to its designated person
(s) (natural/legal persons) at any time, in which case the assignees shall have the rights and obligations of the Pledgee under this Agreement, as if it were the original party to this Agreement. When the Pledgee assigns the rights and obligations
under this Agreement, upon request of the Pledgee, the Pledgors shall execute all relevant agreements and/or other documents in connection with such assignment. 

 

	 	11.4	 During the term of this Agreement, the Pledgors shall not assign any of their rights or obligations hereunder
or any part thereof to any third party without the prior written consent of the Pledgee; however, the Pledgee shall be entitled to assign all or part of its rights and obligations hereunder. 

 

	 	11.5	 In the event that Pledgee changes as a result of an assignment, the Pledgors and the prospective Pledgee shall
enter into a separate pledge agreement. 

  

	12.	 TERMINATION 

This Agreement shall be terminated upon the due and complete performance of all contractual obligations under the Transaction Documents by
Shanghai Kuanyu or the rescission of this Agreement. Upon written request from the Pledgors, the Pledgee shall release the Equity Pledge hereunder and, the Pledgors and Shanghai Kuanyu shall record such release of the Equity Pledge in the share
register of Shanghai Kuanyu, and register the release of the Equity Pledge with competent industrial and commercial registration authority. Such costs in connection with the release of the Equity Pledge shall be jointly borne by the Pledgors and
Shanghai Kuanyu. 
  

	13.	 CHARGES AND OTHER EXPENSES 

 

	 	13.1	 All fees and actual expenditures in connection with this Agreement, including but not limited to legal fees,
costs of production, stamp duties and any other taxes and expenses, shall be borne by the Pledgors. Where the Pledgee is required by law to pay for any relevant taxes and charges, the Pledgors shall reimburse the Pledgee in full such taxes and
charges so paid. 

  

	 	13.2	 In the event that the Pledgors fail to pay any taxes or expenses payable by it in accordance with the
provisions herein or for any reason whatsoever which has to be recovered by the Pledgee by any means, the Pledgors shall bear all expenses so incurred (including without limitation all taxes, administrative charges, management fees, legal costs,
lawyer’s expenses and all insurance costs for the disposal of the Pledged Equity Interests). 

  

	14.	 FORCE MAJEURE 

 

	 	14.1	 No Party shall be held liable for any delay or interruption in the performance of this Agreement to the extent
such delay or interruption is caused by a “force majeure event”. A “Force Majeure Event” means any event beyond reasonable control of one Party and cannot be prevented with reasonable care of the party so affected, including
without limitation, governmental action, acts of nature, fire, explosion, geographic changes, typhoon, flood, earthquake, tide, lightning or war. However, any shortage of credit, capital or financing shall not be regarded as an event beyond
reasonable control of the Party. The affected Party who is claiming to be exempted from its failure of fulfilling the obligations under this Agreement or any provisions hereunder by a Force Majeure Event shall as soon as practicable notify the other
Party of such exemption and the necessary steps to be taken for the fulfillment of such obligations. 

  
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	 	14.2	 The Party affected by a Force Majeure Event shall not be held liable under this Agreement provided that the
Party so affected shall make all reasonable efforts to perform this Agreement and the Party seeking exemption shall only be exempted from the obligations to the extent that the performance of which is delayed or prevented. Once the cause of such
exemption has been corrected or rectified, both Parties agree to resume the performance of this Agreement with their best efforts. 

  

	15.	 GOVERNING LAW AND DISPUTE RESOLUTION 

 

	 	15.1	 The effectiveness, interpretation, performance, and dispute resolution and so forth of this Agreement shall be
governed by the laws of China. 

  

	 	15.2	 Any dispute arising between the Parties in connection with the interpretation and performance of the provisions
in this Agreement shall be resolved amicably through consultations between the Parties. If the Parties are unable to reach an agreement within thirty (30) days from the date of written notice served by one Party to the other Party requesting
for such consultation, any Party may submit such dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with the arbitration rules thereof then in effect. The place of arbitration shall be in Beijing;
the language to be used in arbitration shall be Chinese. The arbitral award shall be final and equally binding on the Parties of this Agreement. 

  

	 	15.3	 During the period while the arbitration proceedings are ongoing, except for the matters or obligations in
dispute submitted for arbitration, both Parties shall continue to perform other obligations under this Agreement. The arbitrator shall have the right to make an appropriate award taking into account the actual circumstances so that the Pledgee will
receive appropriate legal remedy, including but not limited to a restriction on the participation in the business operation of Shanghai Kuanyu by the Pledgors, a restriction, prohibition or order on the transfer or disposal of the Pledgors’
equity interests or assets, a demand on the Pledgors to wind up Shanghai Kuanyu. 

  

	 	15.4	 Upon the request of one Party, the court with jurisdiction shall have the right to award provisional remedy,
such as a judgement or ruling to seize or freeze the assets or equity interests of the Defaulting Party. Upon the effectiveness of the arbitral award, any Party shall be entitled to apply for the execution of the arbitral award to the competent
court with jurisdiction. 

  

	16.	 NOTICES 

  

	 	16.1	 Unless otherwise notified in writing of any change to the following addresses, all notices required to be given
or made pursuant to this Agreement shall be delivered to the following addresses by hand, fax or registered mail. The notice shall be deemed to be duly served on the date of acknowledgment receipt if sent by registered mail, or the date on which it
is sent or transmitted if sent by hand or by fax as the case may be. Where the notice is sent by fax, the original of such written notice shall be delivered to the following addresses by registered mail or by hand immediately after transmission.

 Pledgee: Hode Shanghai Limited 

Address: Room 551, Level 5, No. 55 Jilong Road, China (Shanghai) Pilot Free Trade Zone 

Tel/Fax: 021-25099255 

Attention: Chen Rui 

  
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 Pledgor: 

Chen Rui 
 Address: 

Tel: 
 Attention: 

 

	17.	 APPENDICES 

The Appendices of this Agreement shall constitute an integral part of this Agreement. 

 

	18.	 SEVERABILITY 

In the event that any provision of this Agreement is held invalid or unenforceable due to unconformity with relevant laws, such provisions
shall become invalid or unenforceable only to the extent under such applicable laws and the legal effect of the remaining provisions hereunder shall not be affected. 
  

	19.	 MISCELLANEOUS 

 

	 	19.1	 No failure or delay by any Party in exercising any right pursuant to this Agreement shall be deemed as a waiver
of such right, nor shall any exercise of any right in full or partially by a Party preclude such Party from exercising such right in future. 

  

	 	19.2	 This Agreement shall be legally binding on the Parties and their legal successors or assigns.

  

	 	19.3	 In the event that any provision of this Agreement is held invalid, illegal or unenforceable by the laws of
China, all other provisions hereunder shall remain in full force and effect. Upon such determination that any provision is invalid, illegal or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as to effect the
original intent of the Parties as closely as possible in an acceptable manner. 

  

	 	19.4	 This Agreement constitutes the entire agreement between the Parties with respect to the subject matter
contained in this Agreement, and supersedes all prior discussions, negotiations and agreements between the Parties with respect to such subject matter, including the Equity Pledge Agreement executed by both Parties and other relevant parties on June
2, 2015. 

  

	20.	 EFFECTIVENESS 

 

	 	20.1	 This Agreement and any amendments, supplements or variations shall be made in writing and come into effect upon
signing and stamping by the Parties hereto. 

  

	 	20.2	 This Agreement is made in Chinese and multiple originals with the same legal effect. 

  
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 (End of body) 

PLEDGEE: HODE SHANGHAI LIMITED 

					
	/s/ Hode Shanghai Limited	  		  	

  

					
	Authorized Representative:	  	 /s/ Chen Rui
	  	

  

			
	PLEDGOR:
	
	CHEN RUI
		
	By:	 	 /s/ Chen Rui

 List of Appendix 

 

			
	Appendix I	  	Capital Contribution Certificate of Shanghai Kuanyu Digital Technology Co., Ltd.
	Appendix II	  	Shanghai Kuanyu Digital Technology Co., Ltd.EX-4.7

 Exhibit 4.7 

EXCLUSIVE TECHNOLOGY CONSULTING AND SERVICES AGREEMENT 

This EXCLUSIVE TECHNOLOGY CONSULTING AND SERVICES AGREEMENT is entered into on April 24, 2019 by and between: 

PARTY A: HODE SHANGHAI LIMITED 

Registration Number: 310141400014371 

Registered Address: Room 551, Level 5, No. 55 Jilong Road, China (Shanghai) Pilot Free Trade Zone 

PARTY B: SHANGHAI KUANYU DIGITAL TECHNOLOGY CO., LTD. 

Registration Number: 91310115067801988G 

Registered Address: Room 1905, Building 2, No. 335 Guoding Road, Yangpu District, Shanghai 

hereinafter individually referred to as a “Party”, collectively the “Parties”. 

WHEREAS: 
  

	(1)	 Party A is a wholly foreign-owned enterprise incorporated under the laws of the People’s Republic of China
(“PRC”); 

  

	(2)	 Party B is a limited liability company incorporated in Shanghai, China, of which the principal business
includes transfer of technology, technology consulting and service of information technology, computer software and hardware as well as network engineering; business information consultation (except brokerage); corporate image planning; sale of
toys, handicrafts and apparel; advertising design, production and agency; advertising on self-owned media; intellectual property agency (except patent agency) etc.. 

THEREFORE, upon consultations, the Parties hereby agree as follows: 
  

	1.	 DEFINITIONS AND INTERPRETATIONS: 

 

	 	1.1	 Unless otherwise provided herein, the terms below shall have the following meanings: 

 

					
		 	“this Agreement”	  	means the main body and appendices of this Agreement;
		 	“Date of Execution”	  	means the date on which the Agreement is duly executed as written herein;
	      	 	“Party B’s Business”	  	means any and all businesses that Party B may be engaged in according to the operational licenses which are currently maintained or will be obtained by Party B in future.
		 	“Services”	  	means the services that Party A agrees to provide to Party B pursuant to Article 2 of this Agreement
		 	“Service Term”	  	means the term during which Party A provides to Party B the services specified in Article 2 of this Agreement
		 	“Service Fees”	  	means fees payable by Party B to Party A specified in Article 3 of this Agreement

  

	2.	 TERM AND SCOPE OF SERVICES: 

 

	 	2.1	 The term of services provided by Party A shall be 10 years, commencing from the Date of Execution. Unless Party
B informs Party A otherwise at least 90 days before the expiration of the Service Term, the Service Term shall be automatically extended for another ten (10) years upon its first expiration and the subsequent expiration of any extended term.

  

	 	2.2	 During the term of this Agreement, Party A agrees to, as the exclusive technology consulting and service
provider of Party B, provide the relevant technology consulting and services to Party B (please refer to the details in Appendix I) in accordance with the terms and conditions of this Agreement. 

  
 1 

	 	2.3	 Party B agrees to accept the exclusive technology consulting and services provided by Party A and further
agrees that, during the term of this Agreement, it shall not accept any technology consulting and services in respect of Party B’s Business provided by any third party which are same as or similar (to those provided by Party A) without the
prior written consent of Party A. 

  

	 	2.4	 Party A shall be the sole and exclusive owner of all rights and interests arising from or in connection with
the performance of this Agreement, including without limitation the proprietary rights, intellectual property rights such as copyright, patent, know-how, trade secret and others, regardless of whether it is
developed by Party A or by Party B based on the intellectual property owned by Party A. 

  

	3.	 CALCULATION AND PAYMENT OF FEES FOR TECHNOLOGY CONSULTING AND SERVICES (“CONSULTING SERVICE FEES”)

  

	 	3.1	 The Parties agree that the Consulting Service Fees shall be calculated and paid in the manner set out in
Appendix II of this Agreement. 

  

	 	3.2	 Party B shall pay to Party A the Service Fees under this Agreement in the manner and at the time designated by
Party A. The Parties Agree that, payment of Service Fees may be deferred by Party B with prior written consent of Party A, or upon mutual agreement between the Parties, the payment schedule for the Service Fees payable by Party B to Party A provided
in Article 3.1 of this Agreement may be adjusted in writing. 

  

	 	3.3	 Party A agrees that, during the Service Term, Party A shall be entitled to all economic benefits and bear all
risks arising from or in connection with Party B’s Business; Party A shall provide financial support to Party B in the event that Party B is having operating losses or severe difficulties in operation, in which circumstances, Party A shall have
the right to request Party B to cease operation and Party B shall comply with Party A’s request unconditionally. 

  

	 	3.4	 The obligation of Party B to pay to Party A the Service Fees under this Agreement shall be secured by the
equity pledge provided by the shareholders of Party B over the equity interests held by them. 

  

	4.	 REPRESENTATIONS AND WARRANTIES 

 

	 	4.1	 Each Party hereby represents and warrants to the other Party, as at the Date of the Execution of this
Agreement, that: 

  

	 	(1)	 it is a duly incorporated and validly existing legal person, has obtained all governmental approvals, licenses
and permits required for its relevant business in accordance with the applicable laws and has the power to execute this Agreement and perform the obligations hereunder; all corporate actions necessary to authorize the execution, delivery and
performance of this Agreement have been duly and validly taken by it at the general meeting of shareholders or its other governing body; this Agreement, upon due execution, shall constitute its valid and binding obligations, and enforceable against
it pursuant to the terms of this Agreement. 

  

	 	(2)	 The execution, delivery and performance of its obligations under this Agreement: (a) will not be in
conflict with, or result in a breach of any provision of the following documents, from time to time or after receipt of relevant notice: (i) its business license, articles or association, permit, governmental approval of its incorporation,
agreements in connection with its incorporation or other constitutional documents, (ii) any other laws and regulations by which it is bound, (iii) any contract or other documents to which it is a party or by which it or its assets are
bound; (b) will not cause any pledge or other encumbrances to be created by it or any third party over its assets; (c) will not cause any provisions of any contract or other documents to which it is a party or by which it or its assets are
bound, to be terminated or amended by it or any third party; (d) will not cause the suspension, revocation, confiscation, damages or expiration without extension of any applicable governmental approval, permit and registration etc.;

  
 2 

	 	(3)	 there is no ongoing and pending litigation, arbitration or administrative proceedings which may affect its
ability to perform its obligations under this Agreement, and to the best of its knowledge, there is no such threatened actions; and 

  

	 	(4)	 it has disclosed to the other Party all agreements, governmental approvals, permits or other documents to which
it is a party or by which it or its assets are bound that may have a material adverse effect to its ability to fully perform its obligations under this Agreement, and it has not made any untrue statements of material fact or omitted to state
material facts in the documents provided to the other Party previously. 

  

	 	4.2	 Party B hereby further represents and warrants to Party A as follows: 

 

	 	(1)	 Party B shall pay the Service Fees in full to Party A in a timely manner. 

 

	 	(2)	 During the Service Term, it will: 

 

	 	(a)	 maintain the continuous validity of all permits and licenses applicable to Party B’s Business; and

  

	 	(b)	 promptly cooperate with Party A in its provision of services, and accept the reasonable opinions and
suggestions given by Party A to Party B’s Business. 

  

	 	4.3	 During the Service Term, without prior written consent of Party A, Party B will not accept any services
provided by any third party other than Party A which are same as or similar to those under Article 2.2 of this Agreement. 

  

	 	4.4	 Without prior written consent of Party A, it shall not sell, transfer, pledge or otherwise dispose of any legal
interests in its assets (other than in the ordinary course of business), business or income, provide guarantee to any third party, or permit any security interest to be created by any third party over such interests at any time from the Date of
Execution of this Agreement. 

  

	 	4.5	 Without prior written consent of Party A, it shall not inherent or assume any indebtedness (other than in the
ordinary course of business) from the Date of Execution of this Agreement. 

  

	 	4.6	 Without prior written consent of Party A, it shall not enter into any material contract (other than in the
ordinary course of business) from the Date of Execution of this Agreement. 

  

	 	4.7	 without prior written consent of Party A, it shall not merge, consolidate with or form a joint entity with any
third party, acquire or be acquired or controlled by any third party, increase or reduce its registered capital or otherwise change the structure of its registered capital, from the Date of Execution of this Agreement. 

 

	 	4.8	 To the extent permitted by the laws of the PRC, Party B will appoint any person nominated by Party A as
directors and senior management of the company; Party B shall not refuse to appoint such person nominated by Party A, unless otherwise agreed by Party A in writing or with legal grounds. 

 

	 	4.9	 Party A shall be entitled to inspect the accounts of Party B regularly or at any time. During the Service Term,
Party B shall cooperate with Party A and its direct or indirect shareholders in audit and due diligence, provide relevant information and documents with respect to the operation, business, customers, finance and employees of Party B to the auditors
and/or other professionals engaged by Party A, and give consent to Party A or its shareholders’ disclosure of such information and documents as and when required and necessary for listing. 

  
 3 

	 	4.10	 Each Party further warrants to the other Party that, it will execute all documents and take all actions,
including without limitation the issuance of requisite authorizations, as may be reasonably necessary to carry out the purposes and intent of this Agreement. 

  

	 	4.11	 Each Party further warrants to the other Party that, in the event that it is permitted by the laws of the PRC
for Party A to directly hold Party B’s shares without affecting the legality of Party B’s conduct of its business, Party A shall be entitled to immediately exercise the Exclusive Call Option under the Exclusive Call Option Agreement
entered into by and among Party A, Party B and shareholders of Party B on the Date of Execution of this Agreement in full. 

  

	5.	 CONFIDENTIALITY 

 

	 	5.1	 A Party (“Disclosing Party”) may have disclosed or will, from time to time, disclose to the
other Party (“Receiving Party”) its confidential information (including without limitation information about business, customers, finance and agreements etc.). The Receiving Party shall be obliged to keep in strict
confidence the confidential information, and shall not use the confidential information for purposes other than provided in this Agreement. The preceding provision shall not apply to the following information which: (a) as shown by written
evidence of the Receiving Party, was rightfully known to the Receiving Party prior to the disclosure by the Disclosing Party; (b) enters or will enter the public domain through no breach by the Receiving Party of this Agreement; (c) is
rightfully acquired by the Receiving Party from a third party without confidentiality obligation; and (d) is required to be disclosed in accordance with applicable laws, regulations or regulatory bodies’ requirement, or to its legal or
financial advisor in the ordinary course of business. 

  

	 	5.2	 To the extent not in violation of Article 5.1, Party B agrees to use all reasonable methods to keep in
confidence Party A’s confidential documents and information acknowledged or received by Party B in the course of receiving the exclusive consulting and services from Party A (hereinafter referred to as “Confidential
Information”); Party B shall not divulge, provide or transfer any Confidential Information to any third party without Party A’s prior written consent. Upon termination of this Agreement, Party B shall, at the request of Party A, return
any and all documents, information or software containing any such Confidential Information to Party A, or destroy them, delete all of such Confidential Information from any memory devices, and cease to use such Confidential Information.

  

	 	5.3	 The Parties agree that this Article shall survive the amendment, termination and expiration of this Agreement.

  

	6.	 INDEMNITY 

Party B shall indemnify Party A against any loss, damage, liability and/or cost caused by any litigation, claim or other demands against Party
A arising out of or in connection with the technology consulting and services required by Party B. Party B shall also hold Party A harmless against any loss and damage caused by Party B’s act or any claim from any third party as a result of
Party B’s act. 
  

	7.	 LIABILITIES FOR BREACH OF CONTRACT 

Unless otherwise provided in this Agreement, in the event that one Party (“Defaulting Party”) fails to perform any obligation
hereunder or otherwise breaches this Agreement, the other Party (“Non-Defaulting Party”) may: 

  
 4 

	 	(1)	 issue a written notice to the Defaulting Party indicating the nature and scope of the breach, and demanding the
Defaulting Party to rectify (the breach) at its own cost within a reasonable period stipulated in the notice (“Rectification Period”); and 

 

	 	(2)	 if the Defaulting Party fails to rectify (the breach) within the Rectification Period, the Non-defaulting Party shall be entitled to demand the Defaulting Party to indemnify it against all liabilities arising from the breach, and to compensate the Non-defaulting
Party for all its actual economic losses incurred as a result of the breach, including but not limited to the lawyer’s fee and legal expenses for litigation or arbitration in relation to such breach, in addition to the specific performance of
this Agreement by the Defaulting Party. The Non-defaulting Party may also apply to the applicable arbitration body or court for the order of specific performance and/or enforcement of the provisions herein.
The exercise of the aforesaid remedial rights shall not preclude the exercise of other remedies provided herein or under laws and regulations. 

  

	8.	 EFFECTIVENESS AND TERMINATION 

 

	 	8.1	 This Agreement shall become effective upon due execution by the Parties hereto. 

 

	 	8.2	 The effective term of this Agreement shall be terminated when all shares and/or assets of Party B held by the
shareholders of Party B are legally transferred in full to Party A and/or one or more persons designated by Party A in accordance with the provisions of the Exclusive Call Option Agreement. Notwithstanding the foregoing, Party A shall have the right
to terminate this Agreement with 30 days’ prior written notice to Party B at any time, and Party A shall not be liable for any breach of contract by unilaterally terminating this Agreement. 

 

	9.	 GOVERNING LAW AND DISPUTE RESOLUTION 

 

	 	9.1	 The effectiveness, interpretation, performance, and dispute resolution and so forth of this Agreement shall be
governed by the laws of the PRC. 

  

	 	9.2	 Any dispute arising between the Parties in connection with the interpretation and performance of the provisions
in this Agreement shall be resolved amicably through consultations between the Parties. If the Parties are unable to reach an agreement within thirty (30) days from the date of written notice served by one Party to the other Party requesting
for such consultation, either Party may submit such dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with the arbitration rules thereof then in effect. The place of arbitration shall be in
Beijing; the language to be used in arbitration shall be Chinese. The arbitral award shall be final and equally binding on the Parties of this Agreement. 

  

	 	9.3	 During the period while the arbitration proceedings are ongoing, except for the matters or obligations in
dispute submitted for arbitration, both Parties shall continue to perform other obligations under this Agreement. The arbitrator shall have the right to make an appropriate award taking into account the actual circumstances so that Party A will
receive appropriate legal remedy, including without limitation a restriction on the participation in the business operation of Party B, a restriction, prohibition or order on the transfer or disposal of the shares or assets of Party B, a demand to
wind up Party B. 

  

	 	9.4	 Upon the request of one Party, the court with jurisdiction shall have the right to award provisional remedy,
such as a judgement or ruling to seize or freeze the assets or shares of the defaulting party. Upon the effectiveness of the arbitral award, either Party shall be entitled to apply for the execution of the arbitral award to the competent court with
jurisdiction. 

  
 5 

	10.	 FORCE MAJEURE 

 

	 	10.1	 No Party shall be held liable for any delay or interruption in the performance of this Agreement to the extent
such delay or interruption is caused by a “force majeure event”. A “Force Majeure Event” means any event beyond reasonable control of one Party and cannot be prevented with reasonable care of the party so affected, including
without limitation, governmental action, acts of nature, fire, explosion, geographic changes, typhoon, flood, earthquake, tide, lightning or war. However, any shortage of credit, capital or financing shall not be regarded as an event beyond
reasonable control of the Party. The affected Party who is claiming to be exempted from its failure of fulfilling the obligations under this Agreement or any provisions hereunder by a Force Majeure Event shall as soon as practicable notify the other
Party of such exemption and the necessary steps to be taken for the fulfillment of such obligations. 

  

	 	10.2	 The Party affected by a Force Majeure Event shall not be held liable under this Agreement provided that the
Party so affected shall make all reasonable efforts to perform this Agreement and the Party seeking exemption shall only be exempted from the obligations to the extent that the performance of which is delayed or prevented. Once the cause of such
exemption has been corrected or rectified, both Parties agree to resume the performance of this Agreement with their best efforts. 

11. NOTICES 
 Unless otherwise notified in
writing of any change to the following addresses, all notices required to be given or made pursuant to this Agreement shall be delivered to the following addresses by hand, fax or registered mail. The notice shall be deemed to be duly served on the
date of acknowledgment receipt if sent by registered mail, or the date on which it is sent or transmitted if sent by hand or by fax as the case may be. Where the notice is sent by fax, the original of such written notice shall be delivered to the
following addresses by registered mail or by hand immediately after transmission. 
 Party A: Hode Shanghai Limited 

Address: Room 551, Level 5, No. 55 Jilong Road, China (Shanghai) Pilot Free Trade Zone 

Tel/Fax: 021-25099255 

Attention: Chen Rui 
 Party B:
Shanghai Kuanyu Digital Technology Co., Ltd. 
 Address: Room 905-906, No. 2277-1 Zuchongzhi Road, China (Shanghai) Pilot Free Trade Zone 
 Tel/Fax: 021-25099255 
 Attention: Chen Rui 

 

	12.	 ASSIGNMENT 

During the effective term of this Agreement, neither Party shall assign or transfer any or all their rights and/or obligations under this
Agreement without prior written consent of the other Party to any third party save for Party A’s related parties. 
  

	13.	 SEVERABILITY 

In the event that any provision of this Agreement is held invalid or unenforceable due to unconformity with relevant laws, such provisions
shall become invalid or unenforceable only to the extent under such applicable laws and the legal effect of the remaining provisions hereunder shall not be affected. 
  

	14.	 AMENDMENT AND SUPPLEMENT OF THIS AGREEMENT 

The Parties may amend and supplement this Agreement in writing. Any amendment and/or supplement to this Agreement by the Parties, upon due
execution by the Parties is an integral part of and has the same effect with this Agreement. 

  
 6 

	15.	 MISCELLANEOUS 

 

	 	15.1	 No failure or delay by either Party in exercising any right pursuant to this Agreement shall be deemed as a
waiver of such right, nor shall any exercise of any right in full or partially by a Party preclude such Party from exercising such right in future. 

  

	 	15.2	 This Agreement shall be legally binding on the Parties and their legal successors or assigns.

  

	 	15.3	 In the event that any provision of this Agreement is held invalid, illegal or unenforceable by the laws of the
PRC, all other provisions hereunder shall remain in full force and effect. Upon such determination that any provision is invalid, illegal or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as to effect the
original intent of the Parties as closely as possible in an acceptable manner. 

  

	 	15.4	 This Agreement constitutes the entire agreement between the Parties with respect to the subject matter
contemplated in this Agreement, and supersedes all prior discussions, negotiations and agreements between the Parties with respect to such subject matter, including the Exclusive Technology Consulting and Services Agreement executed by the Parties
on June 2, 2015. 

  

	 	15.5	 This Agreement is made in Chinese and multiple originals with the same legal effect. The Parties may execute
this Agreement in counterparts. 

 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by
their duly authorized representatives on the date first above written. 
 (End of body) 

  
 7 

 [Signature Page] 

PARTY A: HODE SHANGHAI LIMITED (COMPANY 
 STAMP)

 /s/ Hode Shanghai Limited 
  

			
	By:	 	 /s/ Chen Rui

	Legal / Authorized Representative:

 PARTY B: SHANGHAI KUANYU DIGITAL 

TECHNOLOGY CO., LTD. (COMPANY STAMP) 
 /s/ Shanghai Kuanyu
Digital Technology Co., Ltd. 
  

			
	By:	 	 /s/ Chen Rui

	Legal / Authorized Representative:

 Signature page to the Exclusive Consulting and Services Agreement 

 List of Appendix 

 

			
	Appendix I	  	List of Technology Consulting and Services
	Appendix II	  	Calculation and Payment of Technology Consulting and Services Fees

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