Document:

Beijing Feijie Power of Attorney

 Exhibit 10.23 
 Power of Attorney 
 We, Beijing Feijie Investment Co., Ltd., a Chinese company with Business License
No.: 110108010608315, and a holder of 100% of the entire registered capital in Beijing Dongdian Wuxian Technology Co., Ltd. (“Beijing Dongdian”) (“Our Shareholding”), hereby irrevocably authorize Beijing PYPO Technology Group
Company Limited (“WFOE”) (to exercise the following rights relating to Our Shareholding during the term of this Power of Attorney: 
 WFOE is hereby authorized to act on behalf of ourselves as our exclusive agent and attorney with respect to all matters concerning Our Shareholding, including without limitation to: 1) attend shareholder’s meetings of Beijing Dongdian;
2) exercise all the shareholder’s rights and shareholder’s voting rights we are entitled to under the laws of China and Articles of Association of Beijing Dongdian, including but not limited to the sale or transfer or pledge or disposition
of Our Shareholding in part or in whole; and 3) designate and appoint on behalf of ourselves the legal representative (chairperson), the director, the executive director, the supervisor, the chief executive officer and other senior management
members of Beijing Dongdian. 
 Without limiting the generality of the powers granted hereunder, WFOE shall have the power and authority
under this Power of Attorney to execute the Transfer Contracts stipulated in Exclusive Option Agreement, to which we are required to be a party, on behalf of ourselves, and to effect the terms of the Equity Interest Pledge Agreement and Exclusive
Option Agreement, both dated the date hereof, to which we are a party. 
 All the actions associated with Our Shareholding conducted by WFOE
shall be deemed as our own actions, and all the documents related to Our Shareholding executed by WFOE shall be deemed to be executed by us. We hereby acknowledge and ratify those actions and/or documents by WFOE. 
 WFOE is entitled to re-authorize or assign its rights related to the aforesaid matters to any other person or entity at its own discretion and without
giving prior notice to us or obtaining our consent. 
 This Power of Attorney is coupled with an interest and shall be irrevocable and
continuously valid from the date of execution of this Power of Attorney, so long as we are a shareholder of Beijing Dongdian. 
 During the
term of this Power of Attorney, we hereby waive all the rights associated with Our Shareholding, which have been authorized to WFOE through this Power of Attorney, and shall not exercise such rights by ourselves. 
 This Power of Attorney is written in Chinese and English; in case there is any conflict between the Chinese version and the English version, the Chinese
version shall prevail. 
  

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	 Beijing Feijie Investment Co.,
 Ltd. (Official Seal)

		
	 By:
	 	 /s/ Dongping Fei

	 Name:
	 	 Dongping Fei

	 Title:
	 	 Legal Representative

	 August 5, 2008

  

			
	 Witness:
	 	 /s/ Xuemei Wang

		
	 Name:
	 	 Xuemei Wang

	
	 August 5, 2008

  

 2Exclusive Business Cooperation Agreement

 Exhibit 10.25 
 Exclusive Business Cooperation Agreement 
 This Exclusive Business Cooperation Agreement (this
“Agreement”) is made and entered into by and between the following parties on July 28, 2008 in Beijing, the People’s Republic of China (“China” or the “PRC”). 
  

			
	Party A:	 	Beijing PYPO Technology Group Company Limited
	Address:	 	 South Wing of the Main Building, Building 15, Zhongli, Cuiwei
 Community, Wanshou Road, Haidian District, Beijing

		
	Party B:	 	Beijing Dongdian Wuxian Technology Co., Ltd.
	 Address:
	 	 Room 102, Floor 1, South Wing of the Main Building, Building 15,
 Zhongli, Cuiwei Community, Wanshou Road, Haidian District, Beijing.

 Each of Party A and Party B shall be hereinafter referred to as a “Party” respectively,
and as the “Parties” collectively. 
 Whereas, 
  

	1.	Party A is a wholly-foreign-owned enterprise established in China, and has the necessary resources to provide technical and consulting services; 

  

	2.	Party B is a company with exclusively domestic capital registered in China and may engage in E-Commerce business and other value added telecom business as approved by the relevant
governmental authorities in China. 

  

	3.	Party A is willing to provide Party B with technical support, consulting services and other commercial services on exclusive basis in relation to the Principal Business during the
term of this Agreement, utilizing its advantages in technology, human resources, and information, and Party B is willing to accept such services provided by Party A or Party A’s designee(s), each on the terms set forth herein.

 Now, therefore, through mutual discussion, the Parties have reached the following agreements: 
  

	1.	Services Provided by Party A 

  

	 	1.1	Party B hereby appoints Party A as Party B’s exclusive services provider to provide Party B with complete technical support, business support and related consulting services
during the term of this Agreement, in accordance with the terms and conditions of this Agreement, which may include all necessary services within the scope of the Principal Business as may be determined from time to time by Party A, such as but not
limited to technical services, business consultations, marketing consultancy, system integration, product research and development, and system maintenance. 

  

	 	1.2	 Party B agrees to accept all the consultations and services provided by Party A. Party B further agrees that unless with Party A’s prior written consent,
during the term of this Agreement, Party B shall not directly 

  

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or indirectly accept the same or any similar consultations and/or services provided by any third party and shall not establish similar corporation
relationship with any third party regarding the matters contemplated by this Agreement. Party A may appoint other parties, who may enter into certain agreements described in Section 1.3 with Party B, to provide Party B with the consultations
and/or services under this Agreement. 

  

	 	1.3	Service Providing Methodology 

  

	 	1.3.1	Party A and Party B agree that during the term of this Agreement, where necessary, Party B may enter into further technical service agreements or consulting service agreements with
Party A or any other party designated by Party A, which shall provide the specific contents, manner, personnel, and fees for the specific technical services and consulting services. 

  

	 	1.3.2	To fulfill this Agreement, Party A and Party B agree that during the term of this Agreement, where necessary, Party B may enter into agreements with Party A or any other party
designated by Party A which shall set forth that Party A or any other party designated by Party A provide services to Party B based on the needs of the business of Party B. 

  

	2.	The Calculation and Payment of the Service Fees 

  

	 	Both Parties agree that, with respect to the services provided by Party A to Party B under this Agreement, Party B shall pay an annual service fee to Party A in the equivalent
amount of certain percentage (the “Rate of Service”) of Party B’s audited total amount of operational income of such year. Both Parties will confirm in writing the specific Rate of Service and the methods of payment based on further
consultations following the execution of this Agreement. Upon the prior written consent by Party A, the Rate of Service may be adjusted pursuant to the operational needs of Party B and such adjustment shall be confirmed in writing by both Parties.

  

	3.	Intellectual Property Rights and Confidentiality Clauses 

  

	 	3.1	To the extent permitted under the PRC laws, Party A shall have exclusive and proprietary rights and interests in all rights, ownership, interests and intellectual properties arising
out of or created during the performance of this Agreement, including but not limited to copyrights, patents, patent applications, software, technical secrets, trade secrets and others. Party B shall execute all appropriate documents, take all
appropriate actions, submit all filings and/or applications, render all appropriate assistance and otherwise conduct whatever is necessary as deemed by Party A in its sole discretion for the purposes of vesting any ownership, right or interest of
any such intellectual property rights in Party A, and/or perfecting the protections for any such intellectual property rights in Party A. 

  

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	 	3.2	The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in connection with the preparation and
performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant
confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed
pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders, investors, legal counsels or financial
advisors regarding the transaction contemplated hereunder, provided that such shareholders, investors, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of
any confidential information by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of this Agreement. This Section shall survive the
termination of this Agreement for any reason. 

  

	 	3.3	The Parties agree that this Section shall survive changes to, and rescission or termination of, this Agreement. 

  

	4.	Representations and Warranties 

  

	 	4.1	Party A hereby represents and warrants as follows: 

  

	 	4.1.1	Party A is a wholly owned foreign enterprise legally registered and validly existing in accordance with the laws of China. 

  

	 	4.1.2	Party A has taken all necessary corporate actions, obtained all necessary authorization and the consent and approval from third parties and government agencies (if any) for the
execution and performance of this Agreement. Party A’s execution and performance of this Agreement do not violate any explicit requirements under any law or regulation binding on Party A. 

  

	 	4.1.3	This Agreement constitutes Party A’s legal, valid and binding obligations, enforceable in accordance with its terms. 

  

	 	4.2	Party B hereby represents and warrants as follows: 

  

	 	4.2.1	Party B is a company legally registered and validly existing in accordance with the laws of China and has obtained the relevant permit and license for engaging in the Principal
Business in a timely manner; 

  

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	 	4.2.2	Party B has taken all necessary corporate actions, obtained all necessary authorization and the consent and approval from third parties and government agencies (if any) for the
execution and performance of this Agreement. Party B’s execution and performance of this Agreement do not violate any explicit requirements under any law or regulation binding on Party A. 

  

	 	4.2.3	This Agreement constitutes Party B’s legal, valid and binding obligations, and shall be enforceable against it. 

  

	5.	Effectiveness and Term 

  

	 	5.1	This Agreement is executed on the date first above written and shall take effect as of such date. Unless earlier terminated in accordance with the provisions of this Agreement or
relevant agreements separately executed between the Parties, the term of this Agreement shall be 10 years. After the execution of this Agreement, both Parties shall review this Agreement every 3 months to determine whether to amend or supplement the
provisions in this Agreement based on the actual circumstances at that time. 

  

	 	5.2	The term of this Agreement may be extended if confirmed in writing by Party A prior to the expiration thereof. The extended term shall be determined by Party A, and Party B shall
accept such extended term unconditionally. 

  

	6.	Termination 

  

	 	6.1	Unless renewed in accordance with the relevant terms of this Agreement, this Agreement shall be terminated upon the date of expiration hereof. 

  

	 	6.2	During the term of this Agreement, unless Party A commits gross negligence, or a fraudulent act, against Party B, Party B shall not terminate this Agreement prior to its expiration
date. Nevertheless, Party A shall have the right to terminate this Agreement upon giving 30 days’ prior written notice to Party B at any time. 

  

	 	6.3	The rights and obligations of the Parties under Articles 3, 7 and 8 shall survive the termination of this Agreement. 

  

	7.	Governing Law and Resolution of Disputes 

  

	 	7.1	The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws of China.

  

	 	7.2	 In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly
negotiations. In the event the Parties fail to 

  

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reach an agreement on the dispute within 30 days after either Party’s request to the other Parties for resolution of the dispute through negotiations,
either Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted in Beijing, and the language used in
arbitration shall be Chinese. The arbitration award shall be final and binding on all Parties. 

  

	 	7.3	Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under
dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement. 

  

	8.	Indemnification 

  

	 	Party B shall indemnify and hold harmless Party A from any losses, injuries, obligations or expenses caused by any lawsuit, claims or other demands against Party A arising from or
caused by the consultations and services provided by Party A to Party B pursuant this Agreement, except where such losses, injuries, obligations or expenses arise from the gross negligence or willful misconduct of Party A. 

 

	9.	Notices 

  

	 	9.1	All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a
commercial courier service or by facsimile transmission to the address of such Party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on which notices shall be deemed to have been effectively given shall be
determined as follows: 

  

	 	9.1.1	Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of delivery or refusal at the address
specified for notices. 

  

	 	9.1.2	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). 

  

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

  

			
	Party A:	  	Beijing PYPO Technology Group Company Limited
	Address:	  	Floor 3, South of Chang’anxingrong Center, No.1, Naoshikou Avenue, Xicheng District, Beijing.

  

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	 Attn:
	  	Dongping Fei
	 Phone:
	  	+86-10-58325858
	 Facsimile:
	  	+86-10-58325705
		
	 Party B:
	  	Beijing Dongdian Wuxian Technology Co., Ltd.
	 Address:
	  	 Room 102, Floor 1, South Wing of the Main Building,
 Building 15, Zhongli, Cuiwei Community, Wanshou Road,
 Haidian District, Beijing

	 Attn.:
	  	Dongping Fei
	 Phone:
	  	+86-10-58325858
	 Facsimile:
	  	+86-10-58325705

  

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

  

	10.	Assignment 

  

	 	10.1	Without Party A’s prior written consent, Party B shall not assign its rights and obligations under this Agreement to any third party. 

  

	 	10.2	Party B agrees that Party A may assign its obligations and rights under this Agreement to any third party upon a prior written notice to Party B but without the consent of Party B.

  

	11.	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 aspect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective
provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, 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. 

  

	12.	Amendments and Supplements 

  

	 	Any amendments and supplements to this Agreement shall be in writing. The amendment agreements and supplementary agreements that have been signed by the Parties and that relate to
this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement. 

  

	13.	Language and Counterparts 

  

	 	This Agreement is written in both Chinese and English language in two copies, each Party having one copy with equal legal validity; in case there is any conflict between the Chinese
version and the English version, the Chinese version shall prevail. 

 The Remainder of this page is intentionally left blank

  

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 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Exclusive
Business Cooperation Agreement as of the date first above written. 
  

					
	 PartyA: Beijing PYPO Technology Group Company Limited (Official Seal)

	 By:
	 	 /s/ Kuo Zhang
	 	
	Name:	 	Kuo Zhang	 	
	Title:	 	Legal Representative	 	

  

					
	Party B: Beijing Dongdian Wuxian Technology Co., Ltd. (Official Seal)
	 By:
	 	 /s/ Dongping Fei
	 	
	Name:	 	Dongping Fei	 	
	Title:	 	Legal Representative	 	

  

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