Document:

pdd_Ex4_6

		

			Exhibit 4.6

		

		

			 

		

		
			 
		

		
			 
		

		
			Sun Qin
		

		
			 
		

		
			Chen Lei
		

		
			 
		

		
			Hangzhou Weimi Network Technology Co., Ltd.
		

		
			 
		

		
			and
		

		
			 
		

		
			Hangzhou Aimi Network Technology Co., Ltd.
		

		
			 
		

		
			Fourth Amended and Restated Equity Pledge Agreement
		

		
			 
		

		
			 
		

		
			 
		

		
			September 23, 2019
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			Fourth Amended and Restated Equity Pledge Agreement
		

		
			 
		

		
			This Fourth Amended and Restated Equity Pledge Agreement (this “Agreement”) is executed by and among the following parties on September 23, 2019
		

		
			 
		

		
			(1)          Sun Qin,  with the ID No. ***;
		

		
			 
		

		
			(2)          Chen Lei,  ID No. ***;
		

		
			 
		

		
			 (Sun Qin and Chen Lei are hereinafter respectively and collectively referred to as the “Pledgor(s)”.)
		

		
			 
		

		
			(3)         Hangzhou Weimi Network Technology Co., Ltd. (the “Pledgee”), with its registered address at ***; and
		

		
			 
		

		
			(4)         Hangzhou Aimi Network Technology Co., Ltd. (the “Company”), with its registered address at ***.
		

		
			 
		

		
			(In this Agreement, each of the above parties shall be respectively referred to as a “Party”, and they shall be collectively referred to as the “Parties”.)
		

		
			 
		

		
			Whereas:
		

		
			 
		

		
			1.            The Pledgors are the shareholders on record of the Company, aggregately holding 100% of the equity interest in the Company (the “Company Equity Interest”). As of the date hereof, their capital contributions in the registered capital of the Company and shareholding percentage are set out in Schedule I hereto.
		

		
			 
		

		
			2.            Sun Qin, Chen Lei, Zhang Zhen, Linzhi Tencent Technology Co., Ltd., the Pledgee and the Company entered into the Third Amended and Restated Equity Pledge Agreement on April 25, 2018 (the “Original Agreement”).
		

		
			 
		

		
			3.            In accordance with the Fourth Amended and Restated Exclusive Option Agreement (the “Fourth Amended and Restated Exclusive Option Agreement”) executed on September 23, 2019 by and among the Parties, the Pledgors shall, to the extent permitted by the PRC Laws and at the request of the Pledgee, transfer all or part of their equity interest in the Company and/or all or part of the assets of the Company to the Pledgee and/or any other entity or individual designated by it.
		

		
			 
		

		
			
		

		
			

		 

		

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			4.            In accordance with the Fourth Amended and Restated Shareholders’ Voting Rights Proxy Agreement (the “Fourth Amended and Restated Shareholders’ Voting Rights Proxy Agreement”) executed on September 23, 2019 by and among the Parties, the Pledgors have granted full authority to the persons designated by the Pledgee to exercise all of their shareholders’ voting rights in the Company on behalf of the Pledgors.
		

		
			 
		

		
			5.            In accordance with the Exclusive Consulting and Services Agreement (the “Services Agreement”) executed in June 2015 by and between the Company and the Pledgee, the Company has, on an exclusive basis, engaged the Pledgee to provide it with relevant technical consulting and services and agreed to pay corresponding service fees to the Pledgee for such services.
		

		
			 
		

		
			6.            As security for the performance of their Contractual Obligations (as defined below) and the repayment of the Secured Indebtedness (as defined below) by the Pledgors and the Company, the Pledgors intend to pledge all their Company Equity Interest to the Pledgee and offer the Pledgee with right of first ranking repayment.
		

		
			 
		

		
			Now,  Therefore, upon mutual discussion and negotiation, the Parties agree as follows:
		

		
			 
		

		
			1.             Definition
		

		
			 
		

		
			1.1.          Unless otherwise required by the context, the following terms shall have the following meanings in this Agreement:
		

		
			 
		

			
					
						“Contractual Obligations”:

					
					
						 

					
					
						means all of the Pledgors’ and/or the Company’s contractual obligations under the Services Agreement, Fourth Amended and Restated Exclusive Option Agreement and Fourth Amended and Restated Shareholders’ Voting Rights Proxy Agreement (collectively referred to as “Transaction Agreements”).

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						“Secured Indebtedness”:

					
					
						 

					
					
						means all losses of direct, indirect, derivative or predictable benefits suffered as a result of any Event of Default (as defined below) of the Pledgors and/or the Company and all costs incurred by the Pledgee for enforcing the performance of the Contractual Obligations by the Pledgors and/or the Company.

				

		
			 
		

		
			
		

		
			

		 

		

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						“Event of Default”:

					
					
						 

					
					
						means the breach by any Pledgors or the Company of any contractual obligations under the Contractual Obligations, the Transaction Agreements and/or this Agreement.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						“Pledge”:

					
					
						 

					
					
						means all the equity interest in the Company lawfully owned by the Pledgors on the date of this Agreement and pledged pursuant to this Agreement to the Pledgee as security for the performance of the Contractual Obligations and any increased capital contributions and dividends under Sections 2.6 and 2.7 of this Agreement.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						“PRC Laws”:

					
					
						 

					
					
						means the then effective laws, administrative regulations, administrative rules, local regulations, judicial interpretations and other binding regulatory documents of the People’s Republic of China.

				

		
			 
		

		
			1.2.           In this Agreement, any reference to any PRC Laws shall be deemed to include (i) a reference to such PRC Laws as modified, amended, supplemented or reenacted, effective before or after the date of this Agreement; and (ii) a reference to any other decisions, circulars or rules made pursuant to such PRC Laws or effective as a result of such PRC Laws.
		

		
			 
		

		
			1.3.           Unless otherwise stated in the context of this Agreement, a reference to a provision, clause, section or paragraph shall refer to a corresponding provision, clause, section or paragraph of this Agreement.
		

		
			 
		

		
			2.             Equity Pledge
		

		
			 
		

		
			2.1.          The Pledgors hereby agree to pledge, in accordance with the terms of this Agreement, their lawfully owned and disposable Pledge, to the Pledgee as the security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness. The Company hereby agrees that the Pledgors who hold its equity to pledge the Pledge to the Pledgee in accordance with the terms of this Agreement.
		

		
			 
		

		
			2.2.           The Pledgors shall record the equity pledge arrangement (“Equity Pledge”) under this Agreement on the Company’s shareholder register upon the execution date of this Agreement, and provide the record evidence to the Pledgee with a form satisfied to the Pledgee, and provide the Pledgee with the shareholders’ resolutions passed and signed by the Pledgors in the form as set out in Schedule III of this Agreement within 15 days from the execution date of this Agreement or within other time periods agreed by the Parties, and provide other industrial and commercial registration certificate which reflects the Equity Pledge under this Agreement. This Agreement shall prevail if there is any discrepancy between the agreement used to complete the industrial and commercial registration of the Equity Pledge and this Agreement.
		

		
			 
		

		
			
		

		
			

		 

		

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			2.3.           During the term of this Agreement, the Pledgee shall not be liable in whatsoever manner for any decrease in the value of the Pledge and the Pledgors are not entitled to seek any form of recourse or file any claims against the Pledgee, except where such decrease arises out of any willful conduct of the Pledgee or out of its gross negligence which has an immediate causal link with such result.
		

		
			 
		

		
			2.4.           Subject to Section 2.3 above, if there is such possibility of significant decrease in the value of the Pledge as to impair the rights of the Pledgee, the Pledgee may demand the Pledgors to provide other assets as security, and at any time auction or sell the Pledge on behalf of the Pledgors and may, as agreed with the Pledgors, apply the proceeds from such auction or sale towards advance repayment of the Secured Indebtedness, or deposit such proceeds with a notary organ where the Pledgee is located (any costs thereby incurred shall be entirely borne by the Pledgee).
		

		
			 
		

		
			2.5.          The Pledgee is entitled to the first order of security interest to the Pledge. When any Event of Default occurs, the Pledgee has the right to dispose of the Pledge in the form applied in Section 4 of this Agreement.
		

		
			 
		

		
			2.6.          The Pledgors may increase the capital of the Company with the Pledgee’s prior written consent. The amount of capital contributed by the Pledgors in the Company’s registered capital as a result of the capital increase of the Company is also automatically attributed to the Pledge.
		

		
			 
		

		
			2.7.          The dividends or bonus which the Pledgors receive in respect of the Pledge shall be deposited in the account designated by the Pledgee, supervised by the Pledgee, as the pledge firstly used for the repayment of the Secured Indebtedness.
		

		
			 
		

		
			2.8.         Upon the occurrence of any Event of Default, the Pledgee shall be entitled to dispose of the Pledge of any Pledgors in such manner as provided in Section 4 of this Agreement.
		

		
			 
		

		
			3.             Release of Equity Pledge
		

		
			 
		

		
			After full and complete performance of all the Contractual Obligations and full repayment of all the Secured Indebtedness by the Pledgors and the Company, the Pledgee shall, at the request of the Pledgors, release the Equity Pledge under this Agreement and cooperate with the Pledgors to deregister and release the Equity Pledge with the administration for industry and commerce.  The Pledgee shall bear the reasonable costs incurred in connection with the release of the Equity Pledge.
		

		
			 
		

		
			
		

		
			

		 

		

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			4.            Disposal of Pledge
		

		
			 
		

		
			4.1.         The Pledgors, the Company and the Pledgee hereby agree that upon occurrence of any Event of Default, the Pledgee shall, upon giving a written notice to the Pledgors, be entitled to exercise all rights and power of remedies for breach of contract under the PRC Laws, the Transaction Agreements and this Agreement, including without limitation the right to auction or sell the Pledge and to be compensated on a preferential basis with the proceeds thereof. The Pledgee shall not be held liable for any losses from its reasonable exercise of such rights and power.
		

		
			 
		

		
			4.2.         The Pledgee shall be entitled to appoint in writing its counsels or other agents to exercise any and all of its foregoing rights and power and the Pledgors and the Company shall not raise objections thereto.
		

		
			 
		

		
			4.3.         The Pledgors shall bear the reasonable costs incurred in connection with the exercise of any or all of the aforesaid rights and power by the Pledgee and the Pledgee is entitled to deduct such costs on an actual basis from the proceeds obtained from such exercise of rights and power.
		

		
			 
		

		
			4.4.         The proceeds obtained from the exercise by the Pledgee of its rights shall be applied in the following order of precedence:
		

		
			 
		

		
			(i)        payment of all costs arising out of the disposal of the Pledge and the exercise by the Pledgee of its rights (including fees paid to its counsels and agents);
		

		
			 
		

		
			(ii)       payment of the taxes payable in connection with the disposal of the Pledge; and
		

		
			 
		

		
			(iii)      repayment of the Secured Indebtedness to the Pledgee;
		

		
			 
		

		
			and any balance after the deduction of the aforesaid payments shall either be returned by the Pledgee to the Pledgors or any other person who is entitled to such balance under relevant laws and regulations or be deposited with a notary organ where the Pledgee is located (any costs thereby incurred shall be entirely borne by the Pledgors).
		

		
			 
		

		
			4.5.         The Pledgee shall be entitled to exercise, at its option, concurrently or successively, its right of pledge towards the equity interest in the Company held by any of the Pledgors, or any of remedies for breach of contract it is entitled to. The Pledgee shall not be required to firstly exercise other remedies for breach of contract prior to exercising its right to auction or sell the Pledge under this Agreement. Neither the Pledgors nor the Company shall object to whether the Pledgee exercises part of its pledge right or to the sequence of exercising the pledge right by the Pledgee.
		

		
			 
		

		
			
		

		
			

		 

		

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			5.             Fees and Expenses
		

		
			 
		

		
			All actual costs and expenses arising in connection with the creation of the equity pledge under this Agreement, including without limitation the stamp duty, any other taxes and all legal fees, shall be borne by the Parties respectively.
		

		
			 
		

		
			6.             Continuity and No Waiver
		

		
			 
		

		
			The Equity Pledge hereunder shall be a continuous security and shall remain valid until the full performance of the Contractual Obligations, and the full repayment of the Secured Indebtedness. Neither exemption or grace period granted by the Pledgee to the Pledgors in respect of any breach, nor delay by the Pledgee in exercising any of its rights under the Transaction Agreements and this Agreement, shall affect the rights of the Pledgee under this Agreement, relevant PRC Laws and the Transaction Agreements to demand at any time thereafter the strict performance by the Pledgors of the Transaction Agreements and this Agreement, or the rights the Pledgee may be entitled to due to any subsequent breach by the Pledgors of the Transaction Agreements and/or this Agreement.
		

		
			 
		

		
			7.             Representations and Warranties of the Pledgors
		

		
			 
		

		
			The Pledgors hereby severally but not jointly represent and warrant to the Pledgee that:
		

		
			 
		

		
			7.1.          They are natural persons with full civil capacity or corporate legal person; they have full and independent legal status and legal capacity, and have been duly authorized to execute, deliver and perform this Agreement, and may sue or be sued as an independent party.
		

		
			 
		

		
			7.2.          The Company in which they hold equity interest is a limited liability company lawfully incorporated and existing,  having independent legal person qualification. It has full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may sue or be sued as an independent party. It has full power and authorization to execute and deliver this Agreement, all other documents they will sign related to the transactions contemplated under this Agreement, and has full power and authorization to complete the transactions contemplated under this Agreement.
		

		
			 
		

		
			
		

		
			

		 

		

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			7.3.           All reports, documents and information provided by the Pledgors to the Pledgee after the date of this Agreement with respect to the Pledgors and all matters required by this Agreement are true, correct and valid in all substantial respects as of the date of such provision.
		

		
			 
		

		
			7.4.           All reports, documents and information provided by the Pledgors to the Pledgee after the date of this Agreement with respect to the Pledgors and all matters required by this Agreement are true, correct and valid in all substantial respects as of the date of such provision.
		

		
			 
		

		
			7.5.           As of the date of this Agreement, the Pledgors are the only lawful owners of the Pledge free from any existing dispute in relation to the ownership thereof. The Pledgors have the right to dispose of the Pledge or any part thereof.
		

		
			 
		

		
			7.6.           Other than the security interest created on the Pledge under this Agreement and the rights created under the Transaction Agreements, the Pledge is free from any other security interest or third party rights.
		

		
			 
		

		
			7.7.           The Pledge can be lawfully pledged and transferred, and the Pledgors have full rights and power to pledge the Pledge to the Pledgee in accordance with the terms of this Agreement.
		

		
			 
		

		
			7.8.           This Agreement is lawfully and duly executed and delivered by the Pledgors and constitutes lawful and binding obligations of the Pledgors.
		

		
			 
		

		
			7.9.           Any consents, permissions, waivers or authorizations by any third party or any approvals, licenses or exemptions by or any registration or filing formalities with any governmental body (if required by laws), necessary for the execution and performance of this Agreement and the Equity Pledge under this Agreement, have been obtained or handled and will remain in full force during the term of this Agreement.
		

		
			 
		

		
			7.10.         The execution and performance of this Agreement by the Pledgors do not violate or conflict with any law applicable to the Pledgors in effect, any agreement to which the Pledgors are a party or by which their assets are bound, any court judgment, any arbitral award, or any decision of any administrative authority.
		

		
			 
		

		
			7.11.         The Equity Pledge under this Agreement constitutes a first order of security interest on the Pledge.
		

		
			 
		

		
			7.12.         All taxes and fees payable in connection with obtaining the Pledge have been paid in full by the Pledgors.
		

		
			 
		

		
			7.13.         There are no such pending, or to the knowledge of the Pledgors, threatened suits, arbitrations, or other legal proceedings or claims before any court or arbitral tribunal, or administrative proceedings, or other legal proceedings or claims before any governmental body or administrative authority against the Pledgors or their properties and the Pledge, that will have a material adverse effect on the economic conditions of the Pledgors or the Pledgors’ ability to perform their obligations and security liability under this Agreement.
		

		
			 
		

		
			
		

		
			

		 

		

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			7.14.         The Pledgors hereby warrant to the Pledgee that the aforesaid representations and warranties will remain true and correct and will be fully complied with under all circumstances prior to the full performance of the Contractual Obligations and the full repayment of the Secured Indebtedness.
		

		
			 
		

		
			8.             Representations and Warranties of the Company
		

		
			 
		

		
			The Company hereby represents and warrants to the Pledgee that:
		

		
			 
		

		
			8.1.           It is a limited liability company lawfully incorporated and existing according to the PRC Laws; it has independent legal personality; it has full and independent legal status and capacity to execute, deliver and perform this Agreement, and may sue or be sued as an independent party.
		

		
			 
		

		
			8.2.           All reports, documents and information provided by the Company to the Pledgee prior to the date of this Agreement with respect to the Pledge and all matters required by this Agreement are true, correct and valid in all substantial respects as of the date of this Agreement.
		

		
			 
		

		
			8.3.           All reports, documents and information provided by the Company to the Pledgee after the date of this Agreement with respect to the Pledge and all matters required by this Agreement are true, correct and valid in all substantial respects as of the date of such provision.
		

		
			 
		

		
			8.4.           It has full powers and authorization to execute and deliver this Agreement and all other documents it will sign related to the transactions contemplated under this Agreement, and has the full power and authorization to complete the transactions contemplated under this Agreement.
		

		
			 
		

		
			8.5.           There are no such pending, or to the knowledge of the Company, threatened suits, arbitrations, or other legal proceedings or claims before any court or arbitral tribunal, or administrative proceedings, or other legal proceedings or claims before any governmental body or administrative authority against the Company or its assets (including without limitation any Pledge), that will have a material adverse effect on the economic conditions of the Company or the Company’s ability to perform its obligations and security liability under this Agreement.
		

		
			 
		

		
			8.6.           The Company hereby agrees to assume joint and several liability with its relevant Pledgors’ with respect to their representations and warranties made under Sections 7.5, 7.6, 7.7, 7.9 and 7.11 of this Agreement to the Pledgee.
		

		
			 
		

		
			
		

		
			

		 

		

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			8.7.          The Company hereby warrants to the Pledgee that the aforesaid representations and warranties will remain true and correct and will be fully complied with under all circumstances prior to the full performance of the Contractual Obligations and the full repayment of the Secured Indebtedness.
		

		
			 
		

		
			9.             Undertakings by the Pledgors
		

		
			 
		

		
			The Pledgors hereby severally but not jointly undertake to the Pledgee that:
		

		
			 
		

		
			9.1.          Without prior written consent of the Pledgee, the Pledgors shall not create or permit to be created any new pledge or any other security interest on the Pledge, and any pledge or other security interest created on all or part of the Pledge without prior written consent of the Pledgee shall be null and void.
		

		
			 
		

		
			9.2.          Without prior written notice to and prior written consent of the Pledgee, the Pledgors shall not transfer the Pledge, otherwise all transfer of the Pledge shall be null and void. For transfer of the Pledge with written consent of the Pledgee, the proceeds thereby received shall be first applied towards advance repayment of the Secured Indebtedness to the Pledgee or deposited with a third party agreed with the Pledgee.
		

		
			 
		

		
			9.3.          Where any suits, arbitrations or other legal proceedings or claims arise which are likely to have an adverse effect on the Pledgors’ or the Pledgee’s interests or the Pledge under the Transaction Agreements and this Agreement, the Pledgors undertake that they will promptly and timely send a written notice to the Pledgee and will, in accordance with the reasonable request of the Pledgee, take all necessary measures to ensure the Pledgee’s rights and interests of pledge regarding the Pledge.
		

		
			 
		

		
			9.4.          The Pledgors shall not conduct or permit to be conducted any action or omission which is likely to have a material adverse effect on the Pledgee’s interests or the Pledge under the Transaction Agreements and this Agreement. The Pledgors shall waive their right of first refusal in the realization of the pledge right by the Pledgee.
		

		
			 
		

		
			9.5.          The Pledgors undertake to, in accordance with the reasonable request of the Pledgee, take all necessary measures and execute all necessary documents (including without limitation any supplement to this Agreement) to ensure the Pledgee’s rights and interests of pledge regarding the Pledge as well as the exercise and realization of such rights and interests.
		

		
			 
		

		
			9.6.          If there is any transfer of the Pledge due to the exercise of the pledge right under this Agreement, the Pledgors undertake to take all measures to realize such transfer.
		

		
			 
		

		
			
		

		
			

		 

		

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			9.7.          If dissolution or liquidation is required according to compulsory provisions in applicable laws, the Pledgors shall, to the extent permitted by the PRC Laws, grant to the Pledgee or the entity/individual designated by it any interests lawfully distributed from the Company after the dissolution and liquidation of the Company in accordance with relevant laws.
		

		
			 
		

		
			10.           Undertakings by the Company
		

		
			 
		

		
			10.1.        If any consents, permissions, waivers and authorizations by any third party or any approvals, permission, exemption by or any registration or filing formalities with any governmental body (if required by laws), are required for the execution and performance of this Agreement and the equity pledge under this Agreement, the Company will dedicate to help obtain and maintain them in full force during the term of this Agreement.
		

		
			 
		

		
			10.2.        Without prior written consent of the Pledgee, the Company will not assist or permit the Pledgors to establish any new pledge or any other security interest on the Pledge.
		

		
			 
		

		
			10.3.        Without prior written consent of the Pledgee, the Company will not assist or permit the Pledgors to transfer the Pledge.
		

		
			 
		

		
			10.4.        Where any suits, arbitrations or other legal proceedings or claims arise, which are likely to have an adverse effect on the Company, the Company Equity Interest as the Pledge, or the Pledgee’s interests under the Transaction Agreements and this Agreement, the Pledgors undertake that they will promptly and timely send a written notice to the Pledgee and will, in accordance with the reasonable request of the Pledgee, take all necessary measures to ensure the Pledgee’s rights and interests of pledge regarding the Pledge.
		

		
			 
		

		
			10.5.        The Company shall not conduct or permit to be conducted any act or action which is likely to have an adverse effect on the Pledgee’s interests under the Transaction Agreements and this Agreement or the Pledge.
		

		
			 
		

		
			10.6.        The Company shall provide the Pledgee with the Company’s financial statements for the previous quarter within the first month of each calendar quarter, including without limitation balance sheet, income statement and cash flow statement.
		

		
			 
		

		
			10.7.        The Company undertakes to, in accordance with the reasonable request of the Pledgee, take all necessary measures and execute all necessary documents (including without limitation any supplement to this Agreement) to ensure the Pledgee’s rights and interests of pledge regarding the Pledge as well as the lawful and contractual exercise and realization of such rights and interests.
		

		
			 
		

		
			
		

		
			

		 

		

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			10.8.        If there is any transfer of the Pledge due to the exercise of the pledge right under this Agreement, the Company undertakes to take all measures to realize such transfer.
		

		
			 
		

		
			11.           Change of Circumstances
		

		
			 
		

		
			As a supplement and without contravening other provisions of the Transaction Agreements and this Agreement, if at any time and as a result of any promulgation of or amendment to any PRC Laws, regulations or rules, or of any change in the interpretation or application of such laws, regulations or rules, or of any change in relevant registration procedures, the Pledgee takes it that the maintenance of the validity of this Agreement and/or the disposal of the Pledge in the manner provided in this Agreement become illegal or contravenes such laws, regulations or rules, the Pledgors and the Company shall immediately take any actions and/or execute any agreements or other documents upon the Pledgee’s written instructions and in accordance with its reasonable request so as to:
		

		
			 
		

		
			(1)       maintain the validity of this Agreement;
		

		
			 
		

		
			(2)       facilitate the disposal of the Pledge in the manner provided under this Agreement; and/or
		

		
			 
		

		
			(3)       maintain or realize the security created or purported to be created under this Agreement.
		

		
			 
		

		
			12.           Confidentiality
		

		
			 
		

		
			12.1.        During the term of and after the termination of this Agreement, each Party shall maintain in strict confidence the following information:
		

		
			 
		

		
			(1)       The execution, performance of this Agreement and the contents of this Agreement;
		

		
			 
		

		
			(2)       The trade secrets, proprietary information, and customer information (collectively referred to as “Confidential Information”) of the wholly owned company that it knows or receives as a result of the execution and performance of this Agreement.
		

		
			 
		

		
			Each Party shall use such Confidential Information only for the purpose of fulfilling its obligations under this Agreement. Without other Parties’ written consent, any Party shall not disclose the above Confidential Information to any third parties; otherwise it shall bear the liability for breach of the Agreement and compensate for the losses.
		

		
			 
		

		
			
		

		
			

		 

		

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			12.2.         After the termination of this Agreement, any Party shall return, destroy or otherwise dispose of all documents, materials or software containing Confidential Information upon the request of the other Party and cease the use of such Confidential Information.
		

		
			 
		

		
			12.3.        Notwithstanding otherwise provided in this Agreement, the effectiveness of this section shall not be affected by the dissolution or termination of this Agreement.
		

		
			 
		

		
			13.           Effectiveness and Term of this Agreement
		

		
			 
		

		
			13.1.        This Agreement shall become effective after being executed or sealed by the Parties or executed by their legal representatives.
		

		
			 
		

		
			13.2.        The term of this Agreement shall continue until the Contractual Obligations are fully performed and the Secured Indebtedness is fully repaid.
		

		
			 
		

		
			14.           Notice
		

		
			 
		

		
			Any notice or other correspondence required by or made pursuant to this Agreement shall be delivered in person, by registered post, postage prepaid, by a commercial courier service or by facsimile transmission to the address of such Party as set forth below. The dates on which notices shall be deemed effectively given shall be determined as follows:
		

		
			 
		

		
			Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of delivery.
		

		
			 
		

		
			Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).
		

		
			 
		

		
			For the purpose of notices, the addresses of the Parties are as follows:
		

		
			 
		

		
			Pledgor: Sun Qin
		

		
			Address:  ***
		

		
			Tel.: ***
		

		
			 
		

		
			Pledgor: Chen Lei
		

		
			Address: ***
		

		
			Tel.: ***
		

		
			 
		

		
			
		

		
			

		 

		

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			Pledgee: Hangzhou Weimi Network Technology Co., Ltd.
		

		
			Address: ***
		

		
			Tel.: ***
		

		
			 
		

		
			Company: Hangzhou Aimi Network Technology Co., Ltd.
		

		
			Address: ***
		

		
			Tel.: ***
		

		
			 
		

		
			Any Party may at any time change its address for notices by a notice delivered to the other Parties in accordance with the terms hereof.
		

		
			 
		

		
			15.           Miscellaneous
		

		
			 
		

		
			15.1.        Without prior written consent of the Pledgee, the Pledgors or the Company shall not transfer any rights, obligations or liabilities under this Agreement to any third parties. However, the Pledgee may, without prior consent of the Pledgors or the Company and with  a notice to the Pledgors and the Company,  transfer its rights, obligations or liabilities under this Agreement to any third parties. The successors or permitted transferees (if any) of the Parties shall be obligated to continue to perform the Pledgors’ and the Company’s respective obligations under this Agreement.
		

		
			 
		

		
			15.2.        The amount of the Secured Indebtedness shall be determined by the Parties through negotiation and shall constitute the conclusive evidence for the Secured Indebtedness under this Agreement.
		

		
			 
		

		
			15.3.        This Agreement is made in Chinese and executed in four (4) originals. Each Party shall hold one (1) copy, and the number of the executed original copies may be increased accordingly for the purpose of registration or filing (if required).
		

		
			 
		

		
			
		

		
			

		 

		

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			15.4.        The entry into, effectiveness, performance, amendment, interpretation and termination of this Agreement shall be governed by the PRC Laws.
		

		
			 
		

		
			15.5.         In addition to the written amendments, additions, and amendments made after the signing of this Agreement, this Agreement constitutes the entire contract reached by the Parties to this Agreement in relation to the matters referred to in this Agreement, and supersedes any prior agreement with the matters referred to in this Agreement. All oral or written negotiations, representations and contracts, including but not limited to the Original Agreement.
		

		
			 
		

		
			15.6.         Any dispute arising out of or in connection with this Agreement shall be settled by the Parties through consultations and shall, in the absence of an agreement being reached by the Parties within thirty (30) days from its occurrence, be submitted by any Party to Hangzhou Arbitration Commission for arbitration in accordance with the arbitration rules of Hangzhou Arbitration Commission. The arbitral award shall be final and binding on the Parties to this Agreement.
		

		
			 
		

		
			15.7.         No rights, power or remedies granted to each Party by any provision of this Agreement shall preclude any other rights, power or remedies enjoyed by such Party in accordance with the laws and any other provisions under this Agreement and no exercise by a Party of its rights, power and remedies shall preclude its exercise of its other rights, power and remedies.
		

		
			 
		

		
			15.8.         No failure or delay by a Party in exercising any rights, power or remedies (“Such Rights”) pursuant to this Agreement or any laws shall result in a waiver of Such Rights; and no single or partial waiver of Such Rights shall preclude such Party from exercising Such Rights in any other manner or from exercising other Such Rights.
		

		
			 
		

		
			15.9.        The section headings in this Agreement are for convenience of reference only and shall in no event be used in or affect the interpretation of the provisions of this Agreement.
		

		
			 
		

		
			15.10.      Each provision contained in this Agreement shall be severable and independent from any other provisions of this Agreement, and if at any time any one or more provisions of this Agreement become invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected thereby.
		

		
			 
		

		
			15.11.      Any amendments or supplements to this Agreement shall be made in writing and shall take effect only if duly signed/sealed by the Parties to this Agreement, except for the Pledgee’s transfer of its rights under this Agreement in accordance with Section 15.1.
		

		
			 
		

		
			
		

		
			

		 

		

			14

		

		

			 

		

		

		
			 
		

		
			15.12.      This Agreement shall be binding upon the lawful successors of the Parties.
		

		
			 
		

		
			15.13.      Concurrently with the signing of this Agreement, the Pledgors may separately sign a power of attorney (as set out in Schedule II,  the “Power of Attorney”), and authorize any person designated by them to sign any and all legal documents required for the Pledgee to exercise its rights under this Agreement. Such Power of Attorney shall be placed in the custody of the Pledgee, and the pledgee may submit the Power of Attorney to the relevant government department at any time when necessary.
		

		
			 
		

		
			[Intentionally left blank below]
		

		
			 
		

		
			 
		

		
			

		 

		

			15

		

		

			 

		

		

		
			 
		

		
			(This page is intentionally left as the signature page of the Fourth Amended and Restated Equity Pledge Agreement)
		

		
			 
		

		
			IN WITNESS WHEREOF, this Fourth Amended and Restated Equity Pledge Agreement has been executed by the Parties as of the date and at the place first above written.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Sun Qin

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Sun Qin

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Hangzhou Weimi Network Technology Co., Ltd.

					
					
						 

				
	
					
						(Seal)

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Sun Qin

					
					
						 

				
	
					
						Name:

					
					
						Sun Qin

					
					
						 

				
	
					
						Title:

					
					
						Legal Representative

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Hangzhou Aimi Network Technology Co., Ltd.

					
					
						 

				
	
					
						(Seal)

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Sun Qin

					
					
						 

				
	
					
						Name:

					
					
						Sun Qin

					
					
						 

				
	
					
						Title:

					
					
						Legal Representative

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			(This page is intentionally left as the signature page of the Fourth Amended and Restated Equity Pledge Agreement)
		

		
			 
		

		
			IN WITNESS WHEREOF, this Fourth Amended and Restated Equity Pledge Agreement has been executed by the Parties as of the date and at the place first above written.
		

		
			 
		

		
			 
		

			
					
						Chen Lei

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Chen Lei

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			Schedule I:
		

		
			 
		

		
			Basic Information of the Company
		

		
			 
		

		
			Company Name:  Hangzhou Aimi Network Technology Co., Ltd.
		

		
			 
		

		
			Registered Address: ***
		

		
			 
		

		
			Registered Capital: 1,000,000 RMB
		

		
			 
		

		
			Legal Representative: Sun Qin
		

		
			 
		

		
			Shareholding Structure:
		

		
			 
		

			
					
						Name of the Shareholder

					
					
						    

					
					
						Amount of Capital 
Contribution (RMB)

					
					
						    

					
					
						Shareholding 
Percentage

					
					
						 

				
	
					
						Sun Qin

					
					
						 

					
134,300
					
					
						 

					
13.43
					
					
						%

				
	
					
						Chen Lei

					
					
						 

					
865,700
					
					
						 

					
86.57
					
					
						%

				
	
					
						Total

					
					
						 

					
1,000,000
					
					
						 

					
100
					
					
						%

				

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			Schedule II:
		

		
			 
		

		
			Form of Power of Attorney
		

		
			 
		

		
			I, Sun Qin, hereby irrevocably authorize                            ,  with the Identity Card number:                               , as my authorized representative, to sign all necessary or useful legal documents for Hangzhou Weimi Network Technology Co., Ltd. to exercise its rights under the Fourth Amended and Restated Equity Pledge Agreement entered into by Hangzhou Aimi Network Technology Co., Ltd. and me on     , 2019, and to deal with all the formalities related to the industrial and commercial registration related to the equity pledge.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Signiture:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Sun Qin

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Date:

				

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			Form of Power of Attorney
		

		
			 
		

		
			I, Chen Lei, hereby irrevocably authorize                            ,  with the Identity Card number:                               , as my authorized representative, to sign all necessary or useful legal documents for Hangzhou Weimi Network Technology Co., Ltd. to exercise its rights under the Fourth Amended and Restated Equity Pledge Agreement entered into by Hangzhou Aimi Network Technology Co., Ltd. and me on     , 2019, and to deal with all the formalities related to the industrial and commercial registration related to the equity pledge.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Signiture:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Chen Lei

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Date:

				

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			Schedule III:
		

		
			 
		

		
			Hangzhou Aimi Network Technology Co., Ltd. Shareholders Resolutions
		

		
			 
		

		
			Date:        , 2019
		

		
			Location: Hangzhou Aimi Network Technology Co., Ltd.
		

		
			Participating Shareholders: Sun Qin, Chen Lei
		

		
			 
		

		
			After deliberation, the shareholders of the company resolved as follows:
		

		
			 
		

		
			1.      Agreed to pledge the company’s 13.43% equity interest held by shareholder Sun Qin and 86.57% equity interest held by shareholder Chen Lei to Hangzhou Weimi Network Technology Co., Ltd.;
		

		
			 
		

		
			2.      Agreed to record the above equity pledges in the company’s shareholder register and complete the relevant industrial and commercial registration.
		

		
			 
		

		
			These resolutions shall become effective on the date hereof.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Shareholder signature/seal:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Sun Qin

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Chen Leipdd_Ex4_8

		

			Exhibit 4.8

		

		

			 

		

		
			 
		

		
			 
		

		
			 
		

		
			Hangzhou Weimi Network Technology Co., Ltd
		

		
			 
		

		
			Sun Qin
		

		
			 
		

		
			Chen Lei
		

		
			 
		

		
			and
		

		
			 
		

		
			Hangzhou Aimi Network Technology Co., Ltd
		

		
			 
		

		
			Fourth Amended and Restated Exclusive Option Agreement
		

		
			 
		

		
			 
		

		
			 
		

		
			September 23, 2019
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			Fourth Amended and Restated Exclusive Option Agreement
		

		
			 
		

		
			This Fourth Amended and Restated Exclusive Option Agreement (this “Agreement”) is executed by and among the following parties on September 23, 2019:
		

		
			 
		

		
			1.     Hangzhou Weimi Network Technology Co., Ltd, a  wholly foreign-owned enterprise incorporated and existing under the PRC Laws with its registered address at ***  (“Party A”);
		

		
			 
		

		
			2.     Sun Qin, ID No. ***, holding 13.43% of the equity interest in Hangzhou Aimi Network Technology Co., Ltd;
		

		
			 
		

		
			3.     Chen Lei, ID No. ***, holding 86.57% of the equity interest in Hangzhou Aimi Network Technology Co., Ltd;
		

		
			 
		

		
			(Each of the 2 and 3 above a “Party B”, and collectively the “Party B”); and
		

		
			 
		

		
			4.     Hangzhou Aimi Network Technology Co., Ltd, a company incorporated and existing under the PRC Laws with its registered address at *** (“Party C”).
		

		
			 
		

		
			In this Agreement, each of Party A, Party B and Party C shall be referred to as a “Party” respectively, and they shall be collectively referred to as the “Parties”.
		

		
			 
		

		
			WHEREAS:
		

		
			 
		

		
			1.      Party B currently holds 100% of the equity interest in Party C.
		

		
			 
		

		
			2.      Sun Qin, Chen Lei, Zhang Zhen, Linzhi Tencent Technology Co., Ltd, Party A and Party C entered into the Third Amended and Restated Exclusive Option Agreement on April 25, 2018  (the “Original Agreement”).
		

		
			 
		

		
			
		

		
			

		 

		

			1

		

		

			 

		

		

		
			 
		

		
			3.      To the extent permitted by the PRC Laws, Party B and Party C intend to grant Party A and/or an individual or individuals designated by Party A an exclusive option to purchase at any time the equity interest and/or assets of Party C in whole or in part, and Party A intends to accept such grant.
		

		
			 
		

		
			Now, Therefore, upon mutual discussion and negotiation, the Parties agree as follows:
		

		
			 
		

		
			1.          Sales and Purchase of Equity Interest and Assets
		

		
			 
		

		
			1.1           Option Granted
		

		
			 
		

		
			Party B hereby irrevocably grants Party A an irrevocable exclusive right (the “Exclusive Interest Option”) to at any time purchase or designate an individual or individuals (the “Designee”,  who should be (a) direct or indirect shareholders of Party A and direct or indirect subsidiaries of such shareholders; (b) the PRC citizens among the directors of Party A, direct or indirect shareholders of Party A and direct or indirect subsidiaries of such shareholders) to purchase from Party B in whole or in part the equity interest in Party C held by Party B  (the “Optioned Interest”) in steps at absolute discretion of Party A, in accordance with the price prescribed by Section 1.3 of this Agreement, during the term of this Agreement and to the extent permitted by PRC Laws (including any laws, regulations, rules, notices, explanations or other binding documents promulgated by any central or local legislative, administrative or judicial authorities before or after the execution of this Agreement, the “PRC Laws”). Party C hereby agrees to the grant by Party B of the Equity Interest Option to Party A. The term “person” as used herein shall refer to individuals, corporations, joint ventures, partnerships, enterprises, trusts or non-corporate organizations.
		

		
			 
		

		
			Party C hereby irrevocably grants Party A an irrevocable exclusive right (the  “Exclusive Asset Option”, together with the  “Exclusive Interest Option”,  the “Exclusive Option”) for Party A or its designee to at any time purchase from Party C in whole or in part the assets (the “Optioned Assets”) of Party C in steps at absolute discretion of Party A, in accordance with the price prescribed by Section 1.3 of this Agreement, during the term of this Agreement and to the extent permitted by PRC Laws.
		

		
			 
		

		
			The Exclusive Option is exclusive for Party A. Without prior written consent of Party A, Party B shall not in whole or in part sell, offer to sell, transfer, gift, pledge or dispose of the Optioned Interest in any other manner, and shall not authorize others to purchase in whole or in part the Optioned Interest; Party C shall also not in whole or in part sell, offer to sell, transfer, gift, pledge or dispose of in any other manner the Optioned Assets, and shall not authorize others to purchase in whole or in part the Optioned Assets.
		

		
			 
		

		
			
		

		
			

		 

		

			2

		

		

			 

		

		

		
			 
		

		
			1.2       Purchase Price
		

		
			 
		

		
			Upon exercise of the Exclusive Option by Party A, with respect to the Optioned Interest, the purchase price shall be the minimum price permitted by the PRC Laws; and with respect to the Optioned Assets, the purchase price shall be the net book value of the Optioned Assets, but in the event that the minimum price then permitted by the PRC Laws is higher than the net book value of the Optioned Assets, the purchase price shall be the minimum price then permitted by the PRC Laws.
		

		
			 
		

		
			1.3       Exercise of Option
		

		
			 
		

		
			The exercise of the Exclusive Option by Party A shall be subject to requirements of the PRC Laws. Party A is entitled to determine the specific timing, method and number of times of the exercise of its Exclusive Option at its absolute discretion.
		

		
			 
		

		
			Each time Party A decides to exercise its Exclusive Interest Option, it shall give a notice to Party B and Party C (the “Equity Interest Purchase Notice”) of the specific proportions of the Optioned Interest Party A intends to purchase from Party B  (the form of the Equity Interest Purchase Notice as set out in Schedule I to this Agreement).
		

		
			 
		

		
			Each time Party A decides to exercise its Exclusive Asset Option, it shall give a notice to Party B and Party C (“Asset Purchase Notice”,  together with the “Equity Interest Purchase Notice”,  the “Purchase Notice”) of the specific quantity of the Optioned Assets it intends to purchase from Party C (the form of the Asset Purchase Notice as set out in Schedule II to this Agreement).
		

		
			 
		

		
			1.4       Actions Relating to the Exercise of Option
		

		
			 
		

		
			In  the event that Party A exercises its Exclusive Option, in order for the equity/asset transfer to be in compliance with this Agreement and relevant laws whether in substance or in procedure, Party B and Party C undertake to be obligated to separately or jointly take the following actions:
		

		
			 
		

		
			(1)       Within seven business days after the Purchase Notice is delivered to Party B and Party C, Party B and Party C shall, in accordance with the provisions of this Agreement and the Purchase Notice, prepare and execute all necessary documents relating to the transfer of the Optioned Interest/Assets including the equity/asset transfer agreement, and transfer the Optioned Interest/Assets in whole at one time to Party A and/or its designee;
		

		
			 
		

		
			
		

		
			

		 

		

			3

		

		

			 

		

		

		
			 
		

		
			(2)       Party B shall cause Party C to convene the shareholders’ meeting in a timely manner and approve the resolution to transfer equity interest/assets by Party B or Party C to Party A and/or its designee in such meeting;
		

		
			 
		

		
			(3)       With respect to the transfer of Optioned Interest, if necessary, Party B and Party C shall execute an equity transfer agreement (the “Equity Transfer Agreement”) in accordance with the form as set out in Schedule III to this Agreement. Where the PRC Laws provide otherwise as to the substance and form of the Equity Transfer Agreement, such provision by the PRC Laws shall prevail. Unless otherwise agreed by the Parties according to the actual situation, the closing for the Optioned Interest,  which shall be the completion of the registration for changes by the administration for industry and commerce, shall occur no later than the fifteenth business day after the Equity Interest Purchase Notice has been delivered to Party B and Party C;
		

		
			 
		

		
			(4)       On the execution date of this Agreement, Party B and Party C shall execute one or multiple copies of the proxy letter in accordance with the substance and form as set out in Schedule IV to this Agreement, to authorize any individual appointed by Party A to execute and deliver the equity/asset transfer agreement and all other documents provided in this Agreement on behalf of Party B and Party C;
		

		
			 
		

		
			(5)       Party B and Party C shall take all necessary actions to conduct and complete relevant approval and registration procedures without delay and cause the Optioned Interest/Assets to be effectively registered under the name of Party A and/or its designee without any Security Interest thereon. For the purpose of this section and this Agreement, the “Security Interest” shall include warranties, mortgages, pledges, third party’s rights or interests, any stock option, acquisition right, right of first refusal, right to offset, ownership retention or other security arrangements, but shall exclude any security interest created by the Equity Pledge Agreement (as defined below);
		

		
			 
		

		
			(6)       Party B and Party C shall take all necessary actions to free the transfer of the Optioned Interest/Assets from any interference whether in substance or in procedure. Party B and Party C shall not set any obstructions or restrictive conditions to the transfer of the Optioned Interest/Assets other than the conditions expressly provided by this Agreement.
		

		
			 
		

		
			
		

		
			

		 

		

			4

		

		

			 

		

		

		
			 
		

		
			1.5       The Parties hereby agree that, after the exercise of the Exclusive Option by Party A, all the transfer price obtained by Party B and/or Party C thereby shall be paid to Party A or its designee without any compensation.
		

		
			 
		

		
			2.          Undertakings by the Parties
		

		
			 
		

		
			2.1       Undertakings by Party B and Party C
		

		
			 
		

		
			Party B and Party C hereby irrevocably undertake:
		

		
			 
		

		
			(1)        without prior written consent of Party A or its parent company Pinduoduo Inc. (“Party A’s Parent Company”), not to in any manner supplement, change or amend the articles of association documents of Party C, increase or decrease Party C’s registered capital, or change Party C’s structure of registered capital in other manners;
		

		
			 
		

		
			(2)        to maintain Party C and its subsidiaries’ corporate existence in accordance with good financial and business standards and practices, and prudently and effectively operate such parties’ business and handle such parties’ affairs;
		

		
			 
		

		
			(3)       without prior written consent of Party A or Party A’s Parent Company, not to at any time following the date hereof, sell, transfer, mortgage or dispose of in any manner the legal or beneficial interest in the assets, business or revenues of Party C, or allow any other Security Interest thereon;
		

		
			 
		

		
			(4)       without prior written consent of Party A or Party A’s Parent Company, not to incur, inherit, guarantee or allow the existence of any debts, except for (i) debts incurred in the ordinary course of business instead of being incurred by loans; and (ii) debts already disclosed to Party A and those for which Party A’s written consent has been obtained;
		

		
			 
		

		
			(5)        to always operate all of Party C’s business during the ordinary course of business to maintain the asset value of Party C and refrain from any action/omission that may affect Party C’s operating status and asset value;
		

		
			 
		

		
			(6)       without prior written consent of Party A or Party A’s Parent Company, not to enter into any material contract, except for the contracts in the ordinary course of business (for the purpose of this subsection, a contract with total price exceeding RMB500,000 shall be deemed as a material contract);
		

		
			 
		

		
			
		

		
			

		 

		

			5

		

		

			 

		

		

		
			 
		

		
			(7)       without prior written consent of Party A or Party A’s Parent Company, not to provide any person with loan or credit;
		

		
			 
		

		
			(8)       to provide Party A with information on Party C’s business operations and financial conditions upon Party A’s request;
		

		
			 
		

		
			(9)        that Party C shall purchase and maintain insurance from an insurance carrier acceptable to Party A, with the amount and type of coverage consistent with the insurance usually purchased by the companies that operate similar businesses and possess similar properties or assets in the same region;
		

		
			 
		

		
			(10)     without prior written consent of Party A or Party A’s Parent Company, not to merge or consolidate with any person, or acquire or invest in any person;
		

		
			 
		

		
			(11)     to immediately notify Party A of the occurrence or potential occurrence of any litigation, arbitration or administrative proceedings relating to Party C’s assets, business and revenue;
		

		
			 
		

		
			(12)      in order to maintain the ownership by Party C of all its assets, to execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary and appropriate defenses against all claims;
		

		
			 
		

		
			(13)     without prior written consent of Party A or Party A’s Parent Company, to ensure that Party C shall not in any manner distribute dividends, distributable interests and/or any asset to its shareholders; in the event that Party B obtains any aforesaid interest, to notify Party A within three business days and immediately transfer such interest to Party A without any compensation;
		

		
			 
		

		
			2.2       Undertakings regarding Party B
		

		
			 
		

		
			Party B hereby irrevocably undertakes as follows:
		

		
			 
		

		
			(1)       without prior written consent of Party A or Party A’s Parent Company, at any time following the date hereof, not to sell, transfer, mortgage or dispose of in any manner the legal or beneficial interest in the equity interest in Party C held by it, or allow any other Security Interest thereon, except for the pledge on the equity interest in Party C held by Party B pursuant to the fourth amended and restated equity pledge agreement (the “Equity Pledge Agreement”) entered into by the Parties on the execution date of this Agreement ;
		

		
			 
		

		
			
		

		
			

		 

		

			6

		

		

			 

		

		

		
			 
		

		
			(2)        without prior written consent of Party A or Party A’s Parent Company, during the shareholders’ meeting of Party C, not to vote in favor of, support or execute any shareholders’ resolution to approve the sale, transfer, mortgage or disposal of in any manner, or allow the Security Interest on the legal or beneficial interests in any equity interest or assets of Party C, except for those made to Party A or its designated person;
		

		
			 
		

		
			(3)        without prior written consent of Party A or Party A’s Parent Company, during the shareholders’ meeting of Party C, not to vote in favor of, support or execute any shareholders’ resolution to approve merger or consolidation of Party C with any other person, or acquisition of or investment in any other person, or spin-off, change in registered capital or the company form of Party C;
		

		
			 
		

		
			(4)       to cause the shareholders’ meeting to vote in favor of the transfer of the Optioned Interest contemplated by this Agreement;
		

		
			 
		

		
			(5)        in order to maintain Party B’s ownership of the equity interest in Party C, to execute all necessary or appropriate documents, take all necessary or appropriate actions and/or file all necessary or appropriate complaints or raise necessary and appropriate defenses against all claims;
		

		
			 
		

		
			(6)        at the request of Party A, to appoint any designees of Party A as the directors of Party C;
		

		
			 
		

		
			(7)        at the request of Party A at any time, to unconditionally and promptly transfer its equity interest in Party C to Party A or Party A’s designee, and waive its right of first refusal relating to such share transfer by other shareholders of Party C;
		

		
			 
		

		
			(8)        to strictly abide by the provisions of this Agreement and other contracts jointly or separately executed by and among Party A, Party A’s Parent Company, Party B and Party C, perform the obligations hereunder, and refrain from any action/omission that may affect the effectiveness and enforceability thereof.
		

		
			 
		

		
			
		

		
			

		 

		

			7

		

		

			 

		

		

		
			 
		

		
			3.          Representations and Warranties by Party B and Party C
		

		
			 
		

		
			Party B and Party C hereby severally represent and warrant to Party A as of the date of this Agreement and each date of transfer, that:
		

		
			 
		

		
			3.1        They have the authority and power to execute and deliver this Agreement and any share/asset transfer contract to which they are parties entered into for each transfer of the Optioned Interest/Assets (each a “Transfer Contract”), and to perform their obligations under this Agreement and any Transfer Contract. This Agreement and the Transfer Contracts to which they are parties, once executed, constitute or will constitute their legal, valid and binding obligations and shall be enforceable against them in accordance with the provisions thereof;
		

		
			 
		

		
			3.2        The execution, delivery and performance of this Agreement or relevant equity/asset transfer agreement: (a) shall not conflict with or violate the provisions of the following documents, or violate such provisions after the receipt of relevant notice or over time: (i) its business license, articles of association, licenses, approval by the governmental authorities of its incorporation, agreements relating to its incorporation and other charter documents; (ii) any other laws and regulations by which it is bound, (iii) any contract, agreement, lease or other documents to which it is party or by which it is bound or its assets are bound, (b) shall not result in any mortgages or other encumbrances on its assets or entitle any third party to set any mortgages or encumbrance on its assets except for the pledge placed on the equity interest in Party C pursuant to the Equity Pledge Agreement; (c) shall not result in the termination or modification of any contract, agreement, lease or other document provisions to which it is a party or by which it is bound or its assets are bound, or entitle any other third party to terminate or modify such document’s provisions; (d) shall not result in any suspension, withdrawal, confiscation, damage or expiration without extension of any approval, license or registration of the authorities as applicable;
		

		
			 
		

		
			3.3       Party C has a good and merchantable ownership of all of its assets, and has not created any Security Interest on such assets;
		

		
			 
		

		
			3.4        Party C does not have any outstanding debts, except for (i) debts incurred in the ordinary course of business; and (ii) debts already disclosed to Party A and those for which Party A’s written consent has been obtained. Party B legally and effectively owns the equity interest in Party C held by it. Except for the pledge on the equity interest in Party C pursuant to the Equity Pledge Agreement, Party B has not created any Security Interest on the equity interest in Party C;
		

		
			 
		

		
			
		

		
			

		 

		

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			3.5       Party C is in compliance with all the applicable laws and regulations; and
		

		
			 
		

		
			3.6       There are no ongoing, pending or threatened litigations, arbitrations or administrative proceedings relating to the equity interest in Party C, assets of Party C or Party C.
		

		
			 
		

		
			Party B hereby warrants to Party A that it has made all proper arrangements and executed all necessary documents to ensure that in the event of its death, incapacity, bankruptcy, divorce or other circumstances that may affect its exercise of shareholder’s right, its successors, guardians, creditors, spouses and other persons that may thereby acquire the equity interest or relevant rights, shall not influence or hinder the performance of this Agreement.
		

		
			 
		

		
			The Parties warrant that, once the PRC Laws permit Party A to directly hold the equity interest in Party C and Party C can legally continue its business, Party A is entitled to exercise all the Exclusive Option immediately.
		

		
			 
		

		
			4.       Effective Date and Term of Agreement
		

		
			 
		

		
			This Agreement shall become effective after being executed or sealed by the Parties or executed by their legal representatives.
		

		
			 
		

		
			This Agreement shall be terminated after all the equity interest in Party C held by Party B and/or all the assets of Party C have been legally transferred to Party A and/or its designee in accordance with this Agreement. Notwithstanding the above provision, Party A should in any event be entitled to terminate this Agreement by prior written notice to Party B and Party C thirty (30) days in advance, and Party A shall not be held liable for default in respect of the unilateral termination of this Agreement.
		

		
			 
		

		
			5.      Governing Law and Resolution of Disputes
		

		
			 
		

		
			5.1        The effectiveness, construction, performance and the resolution of disputes hereunder shall be governed by the PRC Laws.
		

		
			 
		

		
			5.2        In the event of any dispute with respect to the construction and performance of the provisions of this Agreement, the Parties shall resolve the dispute through amicable consultations. In the event that the Parties fail to reach an agreement on the resolution of such dispute within thirty (30) days after the written notice by one Party to another requesting resolution of the dispute through consultations, either Party may submit the relevant dispute to Hangzhou Arbitration Commission for arbitration in accordance with its arbitration rules effective then. The arbitration shall be conducted in Hangzhou, and the language used in arbitration shall be Chinese. The arbitration award shall be final and binding on the Parties.
		

		
			 
		

		
			
		

		
			

		 

		

			9

		

		

			 

		

		

		
			 
		

		
			5.3        During the arbitration, the parties shall continue to perform the obligations hereunder other than the disputed issues or obligations submitted for arbitration. The arbitrators are entitled to render rulings according to the actual situation to grant Party A the appropriate legal remedies, including limiting the business operation of Party C by Party B, implementing restrictions or prohibitions on the equity interest in Party C held by Party B or assets of Party C, or issuing an order for the transfer or disposal of such interest or assets,  and requesting the liquidation of Party C by Party B.
		

		
			 
		

		
			5.4        Upon request by a disputing party, the competent court is entitled to grant temporary remedy,  such as issuing  a judgment or ruling to withhold or freeze the property or equity interest of the default party. After the arbitral award comes into force, either party shall be entitled to apply for the competent court to enforce such award. In addition to the Chinese courts, the Hong Kong courts and Cayman courts shall be deemed as competent for the above purpose.
		

		
			 
		

		
			6.          Taxes and Fees
		

		
			 
		

		
			Each Party shall pay any and all transfer and registration tax, expenses and fees incurred thereby or levied thereon in connection with the preparation and execution of this Agreement and the Transfer Contracts, as well as the consummation of the transactions contemplated under this Agreement and the Transfer Contracts.
		

		
			 
		

		
			7.          Notices
		

		
			 
		

		
			Notices under this Agreement shall be delivered in person, by facsimile or by registered post to the following addresses unless changed by written notifications. The delivery date of the notice shall be the receiving date on the receipt if delivered by registered post, or the date of delivering to the recipient if delivered in person or by facsimile. If delivered by facsimile, the original notice shall be immediately sent to the following addresses in person or by registered post after such delivery.
		

		
			 
		

		
			
		

		
			

		 

		

			10

		

		

			 

		

		

		
			 
		

		
			Party A:
		

		
			 
		

		
			Hangzhou Weimi Network Technology Co., Ltd.
		

		
			Address: ***
		

		
			Tel: ***
		

		
			 
		

		
			Party B:
		

		
			 
		

		
			Sun Qin
		

		
			Address: ***
		

		
			Tel: ***
		

		
			 
		

		
			Chen Lei
		

		
			Address: ***
		

		
			Tel: ***
		

		
			 
		

		
			Party C:
		

		
			 
		

		
			Hangzhou Aimi Network Technology Co., Ltd.
		

		
			Address: ***
		

		
			Tel: ***
		

		
			 
		

		
			
		

		
			

		 

		

			11

		

		

			 

		

		

		
			 
		

		
			8.          Confidentiality
		

		
			 
		

		
			8.1        Prior to the execution and during the term of this Agreement, one Party (the “Disclosing Party”) has disclosed or may from time to time disclose to other Party (the “Receiving Party”) confidential information (including but not limited to business information, customer information, financial information and contracts). The Receiving Party shall maintain in confidence such confidential information and shall not use any confidential information other than for the purpose expressly provided by this Agreement. The aforesaid provisions do not apply to the following information: (a) any information that has already been obtained by the Receiving Party as proved by written records produced prior to the date of disclosure by the Disclosing Party; (b) any information that becomes public at present or in future not due to the breach of this Agreement by the Receiving Party; (c) any information that is received from a third party which is not bound by an obligation of confidentiality for such information; and (d) any information that is required to be disclosed by relevant laws, regulations or authorities, or that is disclosed to its legal counsels or financial advisors in the ordinary course of business.
		

		
			 
		

		
			8.2       The aforesaid confidentiality obligations of the Parties are continuous, and shall not be terminated with the termination of this Agreement.
		

		
			 
		

		
			9.          Further Warranties
		

		
			 
		

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

		
			 
		

		
			10.        Force Majeure
		

		
			 
		

		
			10.1      Where the performance of this Agreement is postponed or prevented by a  “Force Majeure Event”, the party affected by force majeure shall not assume any liability hereunder only in respect of such postponed or prevented performance. The “Force Majeure Event” means any event out of the reasonable control of one party and that is unavoidable for the affected party with reasonable attention, including but not limited to acts by government, force of nature, fire, explosion, geographical changes, storm, flood, earthquake, tide, lightning or war. However, the lack of credit, capital or finance shall not be deemed as event out of the reasonable control of one party. Any Party affected by the “Force Majeure Event” which seeks the release of performance obligations of this Agreement or any provision hereunder shall notify other Parties of the matter of such release and the necessary steps to complete such performance.
		

		
			 
		

		
			
		

		
			

		 

		

			12

		

		

			 

		

		

		
			 
		

		
			10.2      The party affected by force majeure shall not assume any liability hereunder, provided that the affected Party has made reasonable and practical efforts to perform this Agreement, and shall be released from such liability to the extent of the postponed or prevented performance. Upon the rectification and remedy of the reasons for such release, the Parties agree to make their best efforts to resume the performance of this Agreement.
		

		
			 
		

		
			11.        Miscellaneous
		

		
			 
		

		
			11.1     Amendment, Change and Supplement
		

		
			 
		

		
			The parties shall make amendments and supplements to this Agreement in writing. The amendment agreement and supplementary contract relating to this Agreement that are properly signed by the Parties are part of this Agreement, and shall have the same legal effect as this Agreement.
		

		
			 
		

		
			11.2     Entire Agreement
		

		
			 
		

		
			Except for the amendments, supplements or changes in writing 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 or written consultations, representations and contracts reached with respect to the subject matter of this Agreement, including but not limited to the Original Agreement.
		

		
			 
		

		
			11.3     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.
		

		
			 
		

		
			11.4     Language
		

		
			 
		

		
			This Agreement is written in Chinese in multiple copies.
		

		
			 
		

		
			11.5     Severability
		

		
			 
		

		
			In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions through consultations, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.
		

		
			 
		

		
			
		

		
			

		 

		

			13

		

		

			 

		

		

		
			 
		

		
			11.6     Successors
		

		
			 
		

		
			This Agreement shall be binding on the respective successors of the Parties and the permitted assignees of such Parties.
		

		
			 
		

		
			11.7     Survival
		

		
			 
		

		
			Any obligation that occurs or that is due as a result of this Agreement upon the expiration or advance termination of this Agreement shall survive the expiration or advance termination thereof.
		

		
			 
		

		
			The provisions of Section 6, Section 8 and Section 11.8 of this Agreement shall remain effective after the termination of this Agreement.
		

		
			 
		

		
			11.8     Waivers
		

		
			 
		

		
			Any Party may waive the terms and conditions of this Agreement, provided that such a waiver must be provided in writing and shall require the signatures of the Parties. No waiver by any Party in certain circumstances with respect to a breach by other Parties shall operate as a waiver by such a Party with respect to any similar breach in other circumstances.
		

		
			 
		

		
			IN WITNESS WHEREOF, the Parties have executed this Exclusive Option Agreement as of the date first above written.
		

		
			 
		

		
			 
		

		
			

		 

		

			14

		

		

			 

		

		

		
			 
		

		
			(This page is intentionally left as the signature page of the Fourth Amended and Restated Exclusive Option Agreement)
		

		
			 
		

		
			IN WITNESS WHEREOF, this Fourth Amended and Restated Exclusive Option Agreement has been executed by the Parties as of the date and at the place first above written.
		

		
			 
		

		
			Hangzhou Weimi Network Technology Co., Ltd.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						(Seal)

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Sun Qin

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Name: 

					
					
						Sun Qin

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Title:  

					
					
						Legal Representative

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Sun Qin

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Sun Qin

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Hangzhou Aimi Network Technology Co., Ltd.

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						(Seal)

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Sun Qin

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Name:

					
					
						Sun Qin

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Title:  

					
					
						Legal Representative

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			(This page is intentionally left as the signature page of the Fourth Amended and Restated Exclusive Option Agreement)
		

		
			 
		

		
			IN WITNESS WHEREOF, this Fourth Amended and Restated Exclusive Option Agreement has been executed by the Parties as of the date and at the place first above written.
		

		
			 
		

		
			 
		

			
					
						Chen Lei

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Chen Lei

					
					
						 

				

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			Schedule I
		

		
			 
		

		
			Equity Interest Purchase Notice
		

		
			 
		

		
			To: Sun Qin and Chen Lei
		

		
			 
		

		
			Sun Qin and Chen Lei entered into a Fourth Amended and Restated Exclusive Option Agreement with us on    , 2019. The terms in this notice shall have the meanings given to them as in such agreement.
		

		
			 
		

		
			We have decided to exercise the Exclusive Interest Option provided in the Fourth Amended and Restated Exclusive Option Agreement whereby we or [    ] [name of the company/individual] as designated by us will acquire the 13.43% and 86.57% of the equity interest in Hangzhou Aimi Network Technology Co., Ltd. respectively held by Sun Qin and Chen Lei. Sun Qin and Chen Lei shall complete the closing for the Optioned Interest within fifteen business days in accordance with the Fourth Amended and Restated Exclusive Option Agreement upon receipt of this notice.
		

		
			 
		

		
			Hangzhou Weimi Network Technology Co., Ltd.(Seal)
		

		
			 
		

		
			Date: [  ] [  ], [  ]
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			Schedule II
		

		
			 
		

		
			Asset Purchase Notice
		

		
			 
		

		
			To: Hangzhou Aimi Network Technology Co., Ltd
		

		
			 
		

		
			Sun Qin and Chen Lei entered into the Fourth Amended and Restated Exclusive Option Agreement with us on    , 2019. The terms in this notice shall have the meanings given to them as in such agreement.
		

		
			 
		

		
			We have decided to exercise the Exclusive Asset Option provided in the Fourth Amended and Restated Exclusive Option Agreement whereby we or [    ] [name of the company/individual] as designated by us will purchase the assets of you as outlined in the separate list attached (the “Contemplated Assets”). Please transfer all the Contemplated Assets to us or [    ] [name of the company/individual designated] in accordance with the Fourth Amended and Restated Exclusive Option Agreement upon receipt of this notice.
		

		
			 
		

		
			Hangzhou Weimi Network Technology Co., Ltd.(Seal)
		

		
			 
		

		
			Date: [  ] [  ], [  ]
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			Schedule III
		

		
			 
		

		
			Equity Transfer Agreement
		

		
			 
		

		
			This Equity Transfer Agreement (this “Agreement”) is executed on [  ] [  ], [  ] among:
		

		
			 
		

		
			Transferor: Sun Qin
		

		
			ID No.: ***
		

		
			 
		

		
			Transferor: Chen Lei
		

		
			ID No.: ***
		

		
			 
		

		
			Transferee: Hangzhou Weimi Network Technology Co., Ltd,
		

		
			Registered Address: ***
		

		
			 
		

		
			The parties agree as follows:
		

		
			 
		

		
			1. Sun Qin and Chen Lei agree to sell at the lowest price permitted by the PRC laws and the Transferee agrees to purchase under the same condition 13.43% and 86.57% of the equity interest in Hangzhou Aimi Network Technology Co., Ltd as respectively held by Sun Qin and Chen Lei (“Optioned Interest”).
		

		
			 
		

		
			2. Upon the completion of the above transfer of the Optioned Interest, the Transferors shall not be entitled to any rights with respect to such Optioned Interest, and the Transferee shall be entitled to the full rights with respect to such Optioned Interest previously enjoyed by the Transferors.
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			3. The effectiveness, construction, performance and the resolution of disputes hereunder shall be governed by PRC Laws. The matters not covered in this Agreement and any dispute arising from the execution and performance of this Agreement shall be resolved pursuant to the Fourth Amended and Restated Exclusive Option Agreement or through amicable consultations. In the event that the Parties fail to reach an agreement on the dispute within thirty days (30) after the dispute arises, either Party may submit the relevant dispute to Hangzhou Arbitration Commission for arbitration in Hangzhou with a tribunal of three arbitrators, in accordance with the effective arbitration rules then. The claimant and the respondent shall each designate an arbitrator, and a third arbitrator shall be designated by Hangzhou Arbitration Commission. If the number of claimants or respondents exceeds two (natural persons or legal persons), these persons shall agree in writing on the designation of one arbitrator. The award of the arbitration shall be final and binding upon the disputing parties. During the arbitration, the parties shall continue to perform the obligations hereunder except for the disputed issues or obligations submitted for arbitration. The arbitrators are entitled to render rulings according to the actual situation to grant transferee the appropriate legal remedies, including limiting the business operation of Hangzhou Aimi Network Technology Co., Ltd, implementing restrictions on the equity interest in or assets of Hangzhou Aimi Network Technology Co., Ltd held by transferors, banning on the transfer or disposal of such interest or assets, and requesting the liquidation of Hangzhou Aimi Network Technology Co., Ltd. by the Transferors.
		

		
			 
		

		
			4. Upon the request of the Transferee, the competent court is entitled to grant temporary remedy,  such as issuing  a judgment or ruling to withhold or freeze the property or equity interest of the default party. After the arbitral award comes into force, either party shall be entitled to apply for the competent court to enforce such award. In addition to the Chinese courts, the Hong Kong courts and Cayman courts shall be deemed as competent for the above purpose.
		

		
			 
		

		
			5. This Agreement shall take effect on the date of execution by the parties.
		

		
			 
		

		
			[Signature Pages to Follow]
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			(This page is intentionally left as the signature page of the Equity Transfer Agreement)
		

		
			 
		

		
			Transferor:
		

		
			 
		

			
					
						Sun Qin

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Transferee:

					
					
						 

				

		
			 
		

		
			 
		

		
			Hangzhou Weimi Network Technology Co., Ltd. (Seal)
		

		
			 
		

		
			Legal Representative: Sun Qin
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			(This page is intentionally left as the signature page of the Equity Transfer Agreement)
		

		
			 
		

			
					
						Chen Lei

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			Schedule IV
		

		
			 
		

		
			Irrevocable Proxy Letter (I)
		

		
			 
		

		
			Pursuant to the Fourth Amended and Restated Exclusive Option Agreement executed among Hangzhou Weimi Network Technology Co., Ltd, Hangzhou Aimi Network Technology Co., Ltd and me dated     , 2019, I hereby issue this proxy letter.
		

		
			 
		

		
			I hereby irrevocably delegate and authorize          (ID No.            ) (the “Agent”)  as my agent, with full authority and power to (1) prepare and execute the Equity Transfer Agreement (as defined in Fourth Amended and Restated Exclusive Option Agreement); (2) prepare and execute all necessary documents relating to the transfer of the Optioned Interest (as defined in Fourth Amended and Restated Exclusive Option Agreement); (3) fulfill all approval and registration procedures relating to the transfer of the Optioned Interest.
		

		
			 
		

		
			I hereby agree and acknowledge that the Agent has full authority and power to exercise the rights in a manner it considers appropriate within the scope of the foregoing authorization. I undertake to accept the obligations or responsibilities arising out of the exercise of such rights by the Agent.
		

		
			 
		

		
			This proxy letter shall become effective upon my execution, and shall remain effective during the effective term of the Fourth Amended and Restated Exclusive Option Agreement.
		

		
			 
		

		
			This letter is hereby issued.
		

		
			 
		

		
			 
		

			
					
						Sun Qin

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Date:       , 2019

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			Irrevocable Proxy Letter (II)
		

		
			 
		

		
			Pursuant to the Fourth Amended and Restated Exclusive Option Agreement executed among Hangzhou Weimi Network Technology Co., Ltd, Hangzhou Aimi Network Technology Co., Ltd and me dated     , 2019, I hereby issue this proxy letter.
		

		
			 
		

		
			I hereby irrevocably delegate and authorize          (ID No.            ) (the “Agent”)  as my agent, with full authority and power to (1) prepare and execute the Equity Transfer Agreement (as defined in Fourth Amended and Restated Exclusive Option Agreement); (2) prepare and execute all necessary documents relating to the transfer of the Optioned Interest (as defined in Fourth Amended and Restated Exclusive Option Agreement); (3) fulfill all approval and registration procedures relating to the transfer of the Optioned Interest.
		

		
			 
		

		
			I hereby agree and acknowledge that the Agent has full authority and power to exercise the rights in a manner it considers appropriate within the scope of the foregoing authorization. I undertake to accept the obligations or responsibilities arising out of the exercise of such rights by the Agent.
		

		
			 
		

		
			This proxy letter shall become effective upon my execution, and shall remain effective during the effective term of the Fourth Amended and Restated Exclusive Option Agreement.
		

		
			 
		

		
			This letter is hereby issued.
		

		
			 
		

		
			 
		

			
					
						Chen Lei

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Date:       , 2019

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