Document:

EX-10.4

 Exhibit 10.4 

Second Amended and Restated Shareholders’ Voting Rights Proxy Agreement 

This Second Amended and Restated Shareholders’ Voting Rights Proxy Agreement (the “Agreement”) is made on
September 28, 2018 in Beijing, China by and among the following Parties: 
  

	1.	 Shensi Network Technology (Beijing) Co., Ltd. (“WFOE”), a wholly foreign-owned enterprise
established and validly existing under the laws of China, with the registered address: 2104-A073, No. 9 West North Fourth Ring Road, Haidian District, Beijing; 

 

	2.	 Each existing shareholder listed in Appendix 1 (collectively referred to as “Existing
Shareholders”); and 

  

	3.	 Shenzhen Futu Network Technology Co., Ltd. (“Domestic Company”), registered at: 9th Floor,
Unit 3, Building C, Kexing Science Park, No. 15 Keyuan Road, Middle District of Science and Technology Park, Nanshan District, Shenzhen. 

(In this Agreement, the Parties above shall be hereinafter referred to individually as a “Party” or collectively as the
“Parties”.) 
 Whereas: 
  

	1.	 The Existing Shareholders are all current shareholders of the Domestic Company and jointly own 100% equity of
the Domestic Company; 

  

	2.	 The Existing Shareholders intend to respectively entrust the WFOE or the individual designated by the WFOE to
exercise their voting rights in the Domestic Company, and such individual of the WFOE is willing to accept such entrustment. 

  

	3.	 The Parties intend to sign this Agreement to replace the Amended Shareholders’ Voting rights Proxy
Agreement signed by the Parties with Jia Yan, Xiang Wenbin, Zhao Dan, Zhu Daxin, Wang Wenhai, Liu Huajing, Feng Lei and Qiu Yuepeng on May 27, 2015. 

THEREFORE, the Parties, upon friendly negotiation, hereby agree as follows: 

 

	1.	 Voting Rights Entrustment 

 

	 	1.1	 The Existing Shareholders hereby irrevocably undertake that they will severally execute a proxy letter in the
form and substance as of Appendix 2 hereto upon execution of this Agreement whereby severally authorize the WFOE (hereinafter as the “Proxy”) to exercise, on their behalf, the following rights available to them in their capacity as the
Existing Shareholders of the Domestic Company under the articles of association of the Domestic Company (collectively as the “Proxy Rights”): 

  
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	 	(a)	 to propose the convening of and to attend the shareholders’ meeting as the proxy of the Existing
Shareholders in accordance with the articles of association of the Domestic Company; 

  

	 	(b)	 to exercise voting rights, on behalf of the Existing Shareholders on all matters required to be deliberated and
resolved by the shareholders’ meeting, including without limitation the appointment and election of the directors, and the appointment and removal of other senior executives by the shareholders, of the Domestic Company; 

 

	 	(c)	 to exercise other shareholders’ voting rights under the articles of association of the Domestic Company
(including any other shareholders’ voting rights stipulated upon an amendment to such articles of association). 

 The
premise of the authorization and entrustment above is the WFOE’s permission of the authorization and entrustment above. Other than in the case where the WFOE gives the Existing Shareholders a written notice requesting the replacement of the
Proxy, in which event the Existing Shareholders shall immediately appoint such other Proxy as then designated by the WFOE to exercise the foregoing Proxy Rights and such new authorization and entrustment shall supersede, immediately upon its grant,
the original authorization and entrustment, the Existing Shareholders shall not revoke or release the authorization and entrustment accorded to the Proxy otherwise. 
  

	 	1.2	 The Proxy shall, acting with care and diligence, lawfully fulfill the entrusted rights and duties within the
scope of authorization hereunder; the Existing Shareholders acknowledge, and assume liability for, any legal consequences arising out of the exercise by the Proxy of the Proxy Rights. 

 

	 	1.3	 The Existing Shareholders hereby acknowledge that the Proxy will not be required to solicit the opinions of the
Existing Shareholders when exercising the foregoing Proxy Rights, provided that the Proxy shall promptly inform the Existing Shareholders on an ex-post basis of all resolutions adopted or any proposal for an
extraordinary shareholders’ meeting made. 

  

	2.	 Information Rights 

For the purpose of the exercise of the Proxy Rights hereunder, the Proxy shall have the right to access to information regarding the
operations, business, customers, finances, employees and other matters of the Domestic Company and to access relevant documents of the Domestic Company; the Existing Shareholders and the Domestic Company shall provide full cooperation with respect
thereto. 

  
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	3.	 Exercise of Proxy Rights 

 

	 	3.1	 The Existing Shareholders shall provide full assistance with respect to the exercise by the Proxy of the Proxy
Rights, including, where necessary (e.g., to meet the document submission requirements in connection with governmental authority approval, registration and filing), timely executing the shareholders’ meeting resolutions adopted by the Proxy or
other relevant legal documents. 

  

	 	3.2	 If at any time during the term hereof, the grant or exercise of the Proxy Rights hereunder cannot be realized
for any reason (other than a breach by the Existing Shareholders or the Domestic Company), the Parties shall immediately seek an alternative scheme closest to the unrealizable provisions and shall, when necessary, enter into a supplementary
agreement to amend or modify the terms hereof so that the purpose of this Agreement may continue to be achieved. 

  

	4.	 Exemption and Compensation 

 

	 	4.1	 The Parties acknowledge that in no event shall the WFOE be required to bear any liability or provide any
economic or other compensation to the other Parties or to any third party in connection with the exercise of the Proxy Rights hereunder by the WFOE. 

  

	 	4.2	 The Existing Shareholders and the Domestic Company agree to indemnify and hold harmless the WFOE against any
and all losses the WFOE suffers or may suffer as a result of the exercise of the Proxy Rights, including without limitation any losses arising out of any suit, recourse, arbitration or claims brought by any third party against the WFOE or any
administrative investigation or sanction by any governmental authorities, unless such losses are caused by any willful misconduct or gross negligence of the Proxy. 

 

	5.	 Representations and Warranties 

 

	 	5.1	 The Existing Shareholders hereby severally represent and warrant that: 

 

	 	5.1.1	 For any Existing Shareholder who is an individual, she/he is an Chinese citizen with full capacity for conduct.
She/he has full and independent legal status and capacity with appropriate authorization to execute, deliver and perform this Agreement and may sue or be sued as an independent party. 

  
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	 	5.1.2	 For any Existing Shareholder who is an entity, it is an limited companies duly incorporated and validly
existing under applicable laws with independent legal capacity, has full and independent legal status and capacity and proper authorization to execute, deliver and perform this Agreement and may sue or be sued as an independent party.

  

	 	5.1.3	 They have full power and authorization to execute and deliver this Agreement and all other documents to be
executed by them in connection with the transactions contemplated hereunder as well as full power and authorization to consummate the transactions contemplated hereunder. This Agreement will be lawfully and duly executed and delivered by them and
will constitute their legal and binding obligations enforceable against them in accordance with its terms. 

  

	 	5.1.4	 They are the legal owners of record of the Domestic Company as of the time of effectiveness of this Agreement;
other than the rights created under this Agreement and the Equity Interest Pledge Agreement and the Exclusive Option Agreement signed by and among the Existing Shareholders, the Domestic Company and the WFOE, the Proxy Rights are free from any third
party rights. Pursuant to this Agreement, the Proxy may fully and completely exercise the Proxy Rights under the then effective articles of association of the Domestic Company. 

 

	 	5.2	 The WFOE and the Domestic Company hereby severally represent and warrant that: 

 

	 	5.2.1	 They are each a limited liability company duly registered and lawfully existing under the laws of their place
of incorporation with independent legal personality, have full and independent legal status and capacity to execute, deliver and perform this Agreement and may sue or be sued as an independent party. 

 

	 	5.2.2	 They have full internal corporate power and authorization to execute and deliver this Agreement and all other
documents to be executed by them in connection with the transactions contemplated hereunder as well as full power and authorization to consummate the transactions contemplated hereunder. 

 

	 	5.3	 The Domestic Company further represents and warrants that: 

 

	 	5.3.1	 The Existing Shareholders are the legal owners of record of the Domestic Company as of the time of
effectiveness of this Agreement; other than the rights created under this Agreement and the Equity Interest Pledge Agreement and the Exclusive Option Agreement by and among the Existing Shareholders, the Domestic Company and the WFOE, the Proxy
Rights are free from any third party rights. Pursuant to this Agreement, the Proxy may fully and completely exercise the Proxy Rights under the then effective articles of association of the Domestic Company. 

  
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	6.	 Term of Agreement 

 

	 	6.1	 Subject to the provisions of Article 6.2 and Article 6.3 of this Agreement, this Agreement shall become
effective as from the date it is duly executed by the Parties hereto, and, unless terminated early by WFOE, the validity period of this Agreement shall expire until the expiration of the business term of the WFOE (if the WFOE extends the business
term, the validity period of this Agreement shall be extended accordingly). Before the expiration of this Agreement, if the WFOE so request, the Parties shall extend the term of this Agreement according to the requirements of the WFOE, and sign a
separate agreement or continue to perform this Agreement according to such request of the WFOE, unless terminated early by the Parties by written agreement or in accordance with Article 6.4 hereof. 

 

	 	6.2	 The Parties to the Agreement shall complete the approval and registration procedures for the extension of the
business term within three (3) months before each expiry, so that the term of this Agreement may continue. 

  

	 	6.3	 If any of the Existing Shareholder transfers all the equity he/she holds in the Domestic Company with the prior
written consent of the WFOE, such Party will no longer be a party to this Agreement, but the obligations and commitments of the other Parties under this Agreement will not be therefore adversely affected. If, with the prior written consent of the
WFOE, any Existing shareholder transfers all or part of the equity of the Domestic company he/she holds, the Existing Shareholder undertakes to obtain written confirmation from the transferee who agrees to inherit and perform the Existing
Shareholders’ full liabilities, obligations and commitments under this Agreement. 

  

	 	6.4	 Term of Agreement 

 

	 	(a)	 Termination on Expiry Date. This Agreement shall terminate on the expiry date of the term unless it is
extended in accordance with relevant provisions hereof. 

  
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	 	(b)	 Early Termination. During the term of this Agreement, unless the WFOE commits material misconducts,
fraud, other illegal conducts or is bankrupt or dissolved or terminated, the Existing Shareholders or the Domestic Company shall not terminate this Agreement in advance. Should the WFOE be bankrupt or legally dissolved or terminated prior to the
expiry date of this Agreement, this Agreement shall terminate automatically. Notwithstanding the foregoing, the WFOE may at any time issue a written notice to other Parties thirty (30) days in advance to terminate this Agreement.

  

	 	(c)	 Survival. Upon termination of this Agreement, the rights and obligations of the Parties under Article 7
and Article 8 shall survive. 

  

	7.	 Confidentiality 

 

	 	7.1	 Whether this Agreement has been terminated or not, the Parties shall keep confidential all other Parties’
trade secrets, proprietary information, customer information and other confidential information (hereinafter referred to as the “Confidential Information”) that are known to the Parties during the conclusion and performance of this
Agreement. Except for the prior written consent of the disclosing party of the Confidential Information or mandatory disclosure to the third party required by the relevant laws, regulations or listing requirements, the receiving party of the
Confidential Information shall not disclose any Confidential Information to any other third party. In addition to the purpose related to this Agreement, the party receiving the confidential information may not use or indirectly use any Confidential
Information. 

  

	 	7.2	 The following information is not deemed as Confidential Information: 

 

	 	(a)	 there is documentary evidence proving that any information disclosed has been previously known by the receiving
party by legitimate manner; 

  

	 	(b)	 information that enters into the public domain not due to the fault of the receiving party; or

  

	 	(c)	 information that is legally obtained by the receiving party from other sources after receiving the information.

  

	 	7.3	 The Party receiving the information may disclose the Confidential Information to its relevant employee, agent
or professional hired, but the Parties receiving such information shall ensure that such personnel comply with the relevant terms and conditions of this Agreement and bear the liabilities arising from violation of relevant terms and conditions of
this Agreement. 

  
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	 	7.4	 Notwithstanding any other provisions herein, the validity of this Article shall not be affected by the
termination of this Agreement. 

  

	8.	 Default Liabilities and Compensation 

 

	 	8.1	 Default Liabilities. The Parties agree and confirm that if any Party hereto (“Breaching
Party”) materially breaches any provision hereof, or materially fails to perform or delays in performing any obligation hereunder, it shall constitute a default hereunder (“Default”), and any other non-breaching Parties (“Non-breaching Parties”) may request the Breaching Party to make rectification or take remedy within a reasonable time limit. Should
the Breaching Party still fail to make rectification or take remedy within such reasonable time limit or thirty (30) days after the other Party notifies the Breaching Party in writing and makes the above requests: 

 

	 	(a)	 If any Existing Shareholder or the Domestic Company is a Breaching Party, the WFOE has the right to terminate
this Agreement and require the Breaching Party to pay damages; 

  

	 	(b)	 If the WFOE is a Breaching Party, the Non-breaching Party has the right
to demand damages from the Breaching Party, but under no circumstance the Non-breaching Party has any right to terminate or cancel this Agreement unless otherwise required by the law. 

 

	 	8.2	 Notwithstanding any other provisions of this Agreement, the validity of this Article shall not be affected by
any rescission or termination of this Agreement. 

  

	 	8.3	 Indemnity. The Existing Shareholders shall fully indemnify the WFOE against any loss, damage, liability
and/or cost resulting from any action, claim or other demand made against the WFOE due to or arising out of the performance of this Agreement, and hold the WFOE harmless from any loss and damage caused to the WFOE by any act of the Existing
Shareholders or any claim made by any third party due to the act of the Existing Shareholders. 

  

	9.	 Applicable Laws and Dispute Resolution 

 

	 	9.1	 Applicable Laws. The formation, validity, interpretation, performance of, and the resolution of dispute
arising out of, this Agreement shall be governed by the laws of the PRC. 

  
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	 	9.2	 Dispute Resolution. When a dispute arises between the Parties regarding the interpretation and
performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiation. If the Parties fail to settle the dispute within thirty (30) days after the receipt of the written notice of the other Party’s
request, either Party may submit such dispute to China International Economic and Trade Arbitration Commission to be administered in Beijing in accordance with its arbitration rules then in force. The arbitral award shall be final and legally
binding upon the Parties. 

  

	10.	 Change in Law 

Upon effectiveness of this Agreement, if any central or local legislative or administrative authority in the PRC amends any central or local
PRC law, regulation, ordinance or other normative document, including amending, supplementing, repealing, interpreting or publishing implementing methods or rules for any existing law, regulation, ordinance or other normative document (collectively
referred to as the “Amendment”), or issuing any new law, regulation, ordinance or other normative document (collectively referred to as “New Regulation”), the following provisions shall apply: 

 

	 	10.1	 If the Amendment or New Regulation is more favorable to any Party than any applicable law, regulation,
ordinance or other normative document then in force on the effective date of this Agreement (and the other Party will not thus be imposed any material adverse effect), then the Parties shall timely apply to relevant authority (if necessary) for
obtaining the benefits of such Amendment or New Regulation. The Parties shall make every effort to procure the approval of such application. 

  

	 	10.2	 If, due to the Amendment or New Regulation, there is any direct or indirect material adverse effect on the
economic interests of the WFOE hereunder, and the Parties cannot solve such adverse effect imposed on the economic interests of the WFOE in accordance with the provisions of this Agreement, then after the WFOE notifies the other Parties, the Parties
shall timely negotiate to make all requisite amendment to this Agreement to maximally protect the economic interests of the WFOE hereunder. 

  

	11.	 Force Majeure 

 

	 	11.1	 “Force Majeure Event” refers to any event that is beyond the reasonable control of a Party and
cannot be prevented with reasonable care of the affected Party, including but not limited to natural disasters, war and riot, provided that, any shortage of credit, capital or finance shall not be regarded as an event beyond the reasonable control
of a Party. The affected Party who seeks to be exempt from the performance obligation under this Agreement shall inform the other Party, without delay, of the exemption of obligation and the approaches that shall be taken to complete performance.

  
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	 	11.2	 When the performance of this Agreement is delayed or hindered by the “Force Majeure” in the preceding
definition, the Party affected by the force majeure shall not be liable for any responsibility for this Agreement within the scope of the delay or hindrance. The Party affected by force majeure shall take appropriate measures to reduce or eliminate
the effect of the Force Majeure, and should use its best efforts to restore the performance of the obligation delayed or hindered by the Force Majeure. Once the Force Majeure Event is eliminated, each party agrees to use its best efforts to resume
the performance of this Agreement. 

  

	12.	 Miscellaneous 

 

	 	12.1	 Further Assurance. The Parties agree to promptly execute documents that are reasonably required for or
are conducive to the implementation of the provisions and purpose of this Agreement and take further actions that are reasonably required for or are conducive to the implementation of the provisions and purpose of this Agreement.

  

	 	12.2	 Entire Agreement. Except for the amendments, supplements or changes in writing executed after the
execution of this Agreement, this Agreement shall constitute the entire agreement reached by and among the Parties hereto with respect to the subject matter hereof, and shall supersede all prior oral and written consultations, representations and
contracts reached with respect to the subject matter of this Agreement. 

  

	 	12.3	 Headings. The headings of this Agreement are for convenience only, and shall not be used to interpret,
explain or otherwise affect the meanings of the provisions of this Agreement. 

  

	 	12.4	 Taxes and Expenses. Each Party shall bear any and all taxes and expenses occurring to or levied on it
with respect to the execution and performance of this Agreement. 

  

	 	12.5	 Transfer of Agreement. Without prior written consent of the WFOE, the Existing Shareholders or the
Domestic Company may not assign its rights and obligations hereunder to any third party. 

  

	 	12.6	 Severability. If any provision of this Agreement is invalid or unenforceable due to inconsistency with
relevant laws, such provision shall be deemed invalid or unenforceable only to the extent where the relevant laws apply, and will not affect the legal validity of other provisions of this Agreement. 

  
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	 	12.7	 Waiver. Any Party may waive the terms and conditions of this Agreement, provided that such waiver shall
only become effective if made in writing and agreed and signed by the Parties. No waiver by a Party of the breach by the other Party in a specific case shall operate as a waiver by such Party of any similar breach by the other Party in other cases.

  

	 	12.8	 Amendment and Supplement to the Agreement. The Parties shall amend and supplement this Agreement by a
written instrument. Any amendment and supplement will become an integral part of this Agreement after proper execution by the Parties and have same legal effect as this Agreement. 

 

	 	12.9	 Counterpart. This agreement is written in Chinese, and executed in quadruplicate. Each Party of this
Agreement shall hold one copy. 

  

	 	12.10	 From the effective date of this Agreement, the Amended and Restated Shareholders’ Voting Rights Proxy
Agreement and its attachments signed on May 27, 2015 by the Parties with Jia Yan, Xiang Wenbin, Zhao Dan, Zhu Daxin, Wang Wenhai, Liu Huajing, Feng Lei and Qiu Yuepeng, are automatically terminated. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the following Parties have signed this Second Amended and Restated Shareholders’
Voting Rights Proxy Agreement as of the date and address first above written. 
  

													
	 Shensi Network Technology (Beijing) Co., Ltd.

(Seal: /s/ Shensi Network Technology (Beijing) Co., Ltd.)
	 	 	 	 Shenzhen Futu Network Technology Co., Ltd.

(Seal: /s/ Shenzhen Futu Network Technology Co., Ltd.)

							
	By:	 	 /s/ Li Hua
	 		 	    	 	By:	 	 /s/ Li Hua
	 	                            
	Name: LI Hua	 		 	Name: LI Hua	 	
	Title: Legal Representative	 		 	Title: Legal Representative	 	
				
	LI Hua	 		 	LI Lei	 	
	By:	 	 /s/ Li Hua
	 	                	 	 	 	By:	 	 /s/ Li Lei
	 	

  

  
 Signature Page of
the Second Amended and Restated Voting Rights Proxy Agreement 

 Appendix 1: Existing Shareholders 

 

											
	 Name
	  	Amount of contribution
(ten thousand yuan)	 	  	Method of
investment
contribution	  	Shareholding
ratio	 
	 Li Hua
	  	 	850	 	  	cash	  	 	85	% 
	 Li Lei
	  	 	150	 	  	cash	  	 	15	% 
		  	  
	  
	 	  		  	  
	  
	 
	 Total
	  	 	1,000	 	  	cash	  	 	100	% 
		  	  
	  
	 	  		  	  
	  
	 

 Appendix 2 

Proxy Letter 
 THIS PROXY
LETTER (this “Letter”), executed by Li Hua (ID No.:    ) on the date that the Shareholders’ Voting Rights Proxy Agreement was signed, is issued in favor of the Shensi Network Technology (Beijing) Co., Ltd.
(“Proxy”) or its representative. 
 I, Li Hua, hereby grant to the Proxy a general proxy right authorizing the Proxy to
exercise, as my agent and in my name, the following rights enjoyed by myself in my capacity as a shareholder of Shenzhen Futu Network Technology Co., Ltd. (“Domestic Company”): 

 

	 	(1)	 to propose to convene and to attend the shareholders’ meeting of the Domestic Company under the articles
of association as my agent; 

  

	 	(2)	 to exercise voting rights, on behalf of myself on all matters required to be deliberated and resolved by the
shareholders’ meeting, including without limitation the appointment and election of the directors of the Domestic Company, and the appointment and removal of other senior executives that shall be decided by the shareholders’ meeting as my
agent; 

  

	 	(3)	 to exercise other shareholders’ voting rights under the articles of association of the Domestic Company as
my agent (including any other shareholders’ voting rights stipulated upon an amendment to such articles of association). 

I hereby irrevocably confirm that unless Shensi Network Technology (Beijing) Co., Ltd. has issued an instruction requesting the replacement of
the Proxy, this Letter shall remain valid until the expiration or early termination of the Shareholders’ Voting Rights Proxy Agreement. 

IN WITNESS HEREOF, I hereby issue this Letter. 
  

			
	Name: Li Hua
		
	By:	 	
                 

	Date:

 Proxy Letter 

THIS PROXY LETTER (this “Letter”), executed by Li Lei (ID No.:    ) on the date that the
Shareholders’ Voting Rights Proxy Agreement was signed, is issued in favor of the Shensi Network Technology (Beijing) Co., Ltd. (“Proxy”) or its representative. 

I, Li Lei, hereby grant to the Proxy a general proxy right authorizing the Proxy to exercise, as my agent and in my name, the following rights
enjoyed by myself in my capacity as a shareholder of Shenzhen Futu Network Technology Co., Ltd. (“Domestic Company”): 
  

	 	(1)	 to propose to convene and to attend the shareholders’ meeting of the Domestic Company under the articles
of association as my agent; 

  

	 	(2)	 to exercise voting rights, on behalf of myself on all matters required to be deliberated and resolved by the
shareholders’ meeting, including without limitation the appointment and election of the directors of the Domestic Company, and the appointment and removal of other senior executives that shall be decided by the shareholders’ meeting as my
agent; 

  

	 	(3)	 to exercise other shareholders’ voting rights under the articles of association of the Domestic Company as
my agent (including any other shareholders’ voting rights stipulated upon an amendment to such articles of association). 

I hereby irrevocably confirm that unless Shensi Network Technology (Beijing) Co., Ltd. has issued an instruction requesting the replacement of
the Proxy, this Letter shall remain valid until the expiration or early termination of the Shareholders’ Voting Rights Proxy Agreement. 

IN WITNESS HEREOF, I hereby issue this Letter. 
  

			
	Name: Li Lei
		
	By:	 	      

		 	Date:EX-10.5

 Exhibit 10.5 

Second Amended and Restated Business Operation Agreement 

This Second Amended and Restated Business Operation Agreement (“Agreement”) is made and entered into in Shenzhen, China on September 28,
2017 by and among the following parties (“Parties”): 
  

	1.	 Shensi Network Technology (Beijing) Co., Ltd., a wholly foreign-owned enterprise registered in China at:
2104-A073, No. 9 West North Fourth Ring Road, Haidian District, Beijing (“WFOE”); 

  

	2.	 Each existing shareholder listed in Appendix 1 (collectively referred to as the “Existing
Shareholders”); and 

  

	3.	 Shenzhen Futu Network Technology Co., Ltd., registered at 9th floor, Unit 3, Building C, Kexing Science
Park, No. 15 Keyuan Road, Middle District of Science and Technology Park, Nanshan District, Shenzhen (“Domestic Company”). 

WHEREAS: 
  

	1.	 The WFOE is a wholly foreign-owned enterprise established in the People’s Republic of China (hereinafter
referred to as the “PRC”); 

  

	2.	 The Domestic Company is a domestic limited liability company registered in the PRC; 

 

	3.	 The WFOE and the Domestic Company have established business relationships by signing the Second Amended and
Restated Exclusive Technology Consulting and Services Agreement, under which the Domestic Company shall pay the fee to the WFOE. Therefore, the daily business activities of the Domestic Company will impose a substantial impact on its ability of
paying the corresponding fee to the WFOE; 

  

	4.	 The Existing Shareholders constitute the total shareholders holding 100% of the equity of the Domestic Company;

  

	5.	 The Parties intend to sign this Agreement to replace the Amended and Restated Business Operation Agreement
signed by the parties with Jia Yan, Xiang Wenbin, Zhao Dan, Zhu Daxin, Wang Wenhai, Liu Huajing, Feng Lei and Qiu Yuepeng on May 27, 2015. 

THEREFORE, the Parties to this Agreement, through friendly consultations, have reached the following agreements in accordance with the principle of equality
and mutual benefit: 
  

	1.	 Responsibilities of the Domestic Company and the Existing Shareholders 

In order to secure the Domestic Company’s performance of all agreements signed with the WFOE and all obligations to the WFOE, the Domestic
Company and the Existing Shareholders undertake to the WFOE that, unless the prior written consent of the WFOE has obtained, the Domestic Company shall not, and the Existing Shareholders shall not procure the Domestic Company to, enter into any
transaction which may material effect on the assets, business, personnel, obligations, rights or business operations of the Domestic Company, including but not limited to the following: 

  
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	 	(1)	 To carry out any activity beyond the normal scope or inconsistent with the past method of doing business of the
Domestic Company; 

  

	 	(2)	 To use, change or abolish the business license of the Domestic Company and other permits necessary for the
operation of the Domestic Company in any activity beyond the normal scope of business of the Domestic Company; 

  

	 	(3)	 To provide any loan to any third party or assume any debts beyond the normal scope of business of the Domestic
Company; 

  

	 	(4)	 To change or remove any director of the Domestic Company or remove and replace any senior executive of the
Domestic Company; 

  

	 	(5)	 To sell or acquire any asset or right, including but not limited to any intellectual property right, to and
from any third party; 

  

	 	(6)	 To provide guarantee or any other form of security for any third party by its own assets or intellectual
property rights, or set up any other encumbrance over the assets or equity of the Domestic Company; 

  

	 	(7)	 To amend the articles of association or change the business scope and main business of the Domestic Company;

  

	 	(8)	 To change the normal business procedures of the Domestic Company or amend any important internal rules and
regulations of the Domestic Company; 

  

	 	(9)	 To transfer the rights and obligations hereunder to any third party; 

 

	 	(10)	 To make major adjustments to its business model, marketing strategy, business policy or client relationships;

  

	 	(11)	 To distribute dividends and interest in any form; 

 

	 	(12)	 To operate business in any form other than the main business. 

 

	2.	 Operation, Management and Staffing 

 

	 	2.1	 The Domestic Company and the Existing Shareholders hereby agree to accept and strictly implement the advice
regarding its employment and dismissal of employees, daily operation and management and financial management policies as the WFOE may from time to time provide to it. 

 

	 	2.2	 The Domestic and the Existing Shareholders hereby agree to elect the candidates nominated by the WFOE as the
directors of the Domestic Company in accordance with the procedures set forth in laws, regulations and the articles of association, and procures that the directors so elected will elect the person nominated by the WFOE as the executive director or
chairman of the board of the Domestic Company and nominate persons designated by the WFOE as the general manager, chief financial officer and other senior executives of the Domestic Company. 

  
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	 	2.3	 If such directors or senior executives designated by the WFOE leave the WFOE, regardless of whether they resign
or are removed by the WFOE, they will simultaneously lose the qualifications to hold any position in the Domestic Company. In this case, the Existing Shareholders will dismiss such person from any position in the Domestic Company, and will elect
other persons otherwise designated by the WFOE to hold such position. 

  

	 	2.4	 For the purpose of Article 2.3 above, the Domestic Company will take all necessary internal and external
corporate procedures to complete such appointment and removal formalities in accordance with the laws, the articles of association and this Agreement. 

  

	3.	 Other Agreements 

 

	 	3.1	 If any agreement between the WFOE and the Domestic Company is terminated or expires, the WFOE has the right to
decide whether to terminate all agreements between the WFOE and the Domestic Company, including but not limited to the Exclusive Technology Consulting and Services Agreement. 

 

	 	3.2	 As the WFOE and the Domestic Company have established business relationships by signing agreements such as the
Exclusive Technology Consulting and Services Agreement, the daily operations of the Domestic Company will have a material impact on its ability of paying the corresponding fee to the Domestic Company. Each Existing Shareholder agrees that any
dividend, interest distribution or any other gains or benefits (regardless of its specific form) he or she or it obtained from the Domestic Company as a shareholder shall be paid or transferred free of charge to the WFOE unconditionally, and all
documents or actions necessary to achieve such payment or transfer as required by the WFOE shall be provided or taken. 

  

	 	3.3	 Each of the Existing shareholder undertakes that, regardless of any change to the proportion of equity held by
he or she or it in the Domestic Companies in the future, the terms of this Agreement shall be binding on the Existing Shareholders hereto and their respective successors and assignees, and shall apply to all the equity held by the Existing
Shareholders in the Domestic Company then. 

  

	4.	 Confidentiality 

The Parties agree to keep confidential any confidential materials and information (“Confidential Information”) acquired or
accessed to. The disclosing party of the materials and information shall clearly inform the Confidential Information in writing when providing such materials and information, and make best efforts to take all reasonable measures to keep it
confidential. Without prior written consent of the disclosing party, the other party shall not disclose, give or transfer such Confidential Information (including the receiving party merged with, taken over by, or directly or indirectly under the
control of a third party) to any third party. Upon termination of this Agreement, any document, material or software carrying the Confidential Information shall be returned to the original owner or the disclosing party or destroyed as agreed by such
original owner or disclosing party including deleting any Confidential Information from any relevant memory device, and the use of such Confidential Information shall be ceased. The Parties shall take necessary measures to disclose the Confidential
Information to the staff, agents or professional advisers necessary to know, and procure the staff, agents or professional advisers to comply with the confidentiality obligations under this Agreement. All parties, employees, agents or professional
consultants shall sign specific confidentiality agreements for compliance. 

  
 3 

 The above restrictions do not apply to the following circumstances: information has been
generally available to the public at the time of disclosure; become the general information available to the public after it has been disclosed, not as a result of any misconduct of any party; information that has been obtained by one party prior to
the disclosure instead of directly or indirectly obtained from the other party; in accordance with the legal requirements, the party is obliged to disclose to the relevant government departments, stock exchange agencies, etc., or the party will
disclose the above Confidential Information to its direct legal counsel and financial advisers for its normal operation. 
 The Parties agree
that, this Article shall continue to be valid irrespective of the amendment, dissolution or termination of this Agreement. 
  

	5.	 Indemnity 

  

	 	5.1	 Unless otherwise agreed, any party shall be deemed to breach this Agreement, where it fails to completely
perform or suspend the performance of its obligations under this Agreement and fails to rectify such action upon receipt of the other party’s notice within ten (10) days, or its statements or representations are not true. In the event of a
breach of this Agreement, without prejudice to the right of the affected party to otherwise require the defaulting party to assume the liability for such breach, the defaulting party shall compensate the affected party for the direct loss, damage,
cost, expense, and liabilities or claims incurred in accordance with Chinese laws. 

  

	6.	 Effectiveness, Performance and Term 

 

	 	6.1	 This Agreement shall become effective upon the execution by the Parties on the date first written above.

  

	 	6.2	 Unless the WFOE terminates this Agreement in writing in advance, the term of this Agreement shall expire until
the expiration of the business term of the WFOE (if the WFOE extends its business term, the term of this Agreement expires upon such extension) and start from the effective date of this Agreement. Before expiration of this Agreement, the Parties
shall extend the term of this Agreement at the request of the WFOE, and sign an agreement or continue the performance of this Agreement. 

  
 4 

	7.	 Termination 

  

	 	7.1	 During the term of this Agreement, if the Domestic Company or the Existing Shareholders terminate this
Agreement in advance without any cause, it shall compensate the entire loss suffered by the WFOE and pay the relevant expenses for the services completed. 

  

	 	7.2	 Upon termination of this Agreement, the rights and obligations of the Parties under Articles 4, Articles 5,
Articles 7, Articles 8, Articles 9, and Articles 13 will survive. 

  

	8.	 Dispute Resolution 

 

	 	8.1	 When a dispute arises between the Parties regarding the interpretation and performance of the terms and
conditions of this Agreement, the Parties shall first resolve the dispute through friendly negotiation. If the Parties fail to settle the dispute within thirty (30) days after the receipt of the written notice of the other Party’s request
for initiation of negotiation, either Party may submit the relevant dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with its Arbitration Rules then in force. The arbitration shall be held in
Beijing. The arbitration award shall be final and legally binding upon the Parties. 

  

	 	8.2	 In addition to disputes between the Parties, the Parties should continue to perform their obligations
respectively in accordance with the terms and conditions of this Agreement in good faith. 

  

	9.	 Force Majeure 

 

	 	9.1	 A “Force Majeure Event” refers to any event that is beyond the reasonable control of a party
and cannot be prevented with reasonable care of the affected Party, including but not limited to acts of government, natural disasters, fire, explosion, windstorm, flooding, earthquake, tide, lightning or war. However, any shortage of credit,
capital or financing shall not be regarded as an event beyond the reasonable control of a party. When the performance of this Agreement is delayed or hindered by the “Force Majeure” in the preceding definition, the party affected by the
Force Majeure shall not be liable for any responsibility for this Agreement within the scope of the delay or hindrance. The affected party who seeks to be exempted from the performance obligation under this Agreement shall inform the other party,
without delay, of the exemption of obligation and the steps that shall have been taken to complete performance. 

  

	 	9.2	 When the performance of this Agreement is delayed or hindered by the “Force Majeure” in the preceding
definition, the Party affected by the force majeure shall not be liable for any responsibility for this Agreement within the scope of the delay or hindrance. The Party affected by force majeure shall take appropriate measures to reduce or eliminate
the effect of the Force Majeure, and should use its best efforts to restore the performance of the obligation delayed or hindered by the Force Majeure. Once the Force Majeure Event is eliminated, each party agrees to use its best efforts to resume
the performance of this Agreement. 

  
 5 

	10.	 Assignment 

Without the WFOE’s prior written consent, the Domestic Company and the Existing Shareholders shall not assign the rights and obligations
under this Agreement to any third party. WFOE may assign its obligations and rights under this Agreement to its affiliates without the Domestic Company’s and the Existing Shareholders’ consent, but shall notify the Domestic Company and the
Existing Shareholders such transfer. 
  

	11.	 Severability 

The Parties hereby confirm that this Agreement is a fair and reasonable agreement between the Parties on the basis of equality and mutual
benefit. If any provision of this Agreement is invalid or unenforceable due to inconsistency with relevant laws, such provision shall be deemed invalid or unenforceable only to the extent where the relevant laws apply, and will not affect the legal
validity of other provisions of this Agreement. 
  

	12.	 Amendment and Supplement of Agreement 

The Parties shall amend and supplement this Agreement by a written instrument. Any amendment and supplement will become an integral part of
this Agreement after proper execution by the Parties and have same legal effect as this Agreement. 
  

	13.	 Applicable Laws 

The signing, validity, performance and interpretation of this Agreement, and the resolution of disputes hereunder shall be governed and
interpreted by the laws of the PRC. 
  

	14.	 Counterpart 

This Agreement shall be written in Chinese and executed in quadruplicate. 

 

	15.	 Article 15 Miscellaneous 

The Amended and Restated Business Operation Agreement, signed by all parties and Jia Yan, Xiang Wenbin, Zhao Dan, Zhu Daxin, Wang Wenhai, Liu
Huajing, Feng Lei and Qiu Yuepeng on May 27, 2015, automatically terminates on the effective date of this Agreement 
 [REMAINDER OF
THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 6 

 The Parties have signed this Agreement on the date set out on the front page. 

 

													
	 Domestic Company:
  

Shensi Network Technology (Beijing) Co., Ltd.
 (Seal:
/s/ Shensi Network Technology (Beijing) Co., Ltd.)
	 	 WFOE:
  

Shenzhen Futu Network Technology Co., Ltd.
 (Seal: /s/
Shenzhen Futu Network Technology Co., Ltd.)

							
	By:	 	 /s/ Li Hua
	 		 		 	By:	 	 /s/ Li Hua
	 	
	Name: LI Hua	 		 	Name: LI Hua	 	
	Title: Legal Representative	 		 	Title: Legal Representative	 	
				
	LI Hua	 		 	LI Lei	 	
	By:	 	 /s/ Li Hua
	 	 

                
	 	 
     
	 	By:	 	 /s/ Li Lei
	 	 

                    

 Signature Page to the Second Amended and Restated Business Operation Agreement 

 Appendix 1: the Existing Shareholders 

 

											
	 Name of the

Existing Shareholder
	  	Contributions (RMB)	 	  	The method of
investment
contribution	  	Percentage	 
	 Li Hua
	  	 	8,500,000	 	  	Cash	  	 	85	% 
	 Li Lei
	  	 	1,500,000	 	  	Cash	  	 	7.15	% 
		  	  
	  
	 	  		  	  
	  
	 
	 Total
	  	 	10,000,000	 	  	Cash	  	 	100	%

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