Document:

Exhibit 10.3

 

!!I t i c l r * * 1t - [;J } tx Exclusive Business Cooperation Agreement :;$ :  !R% it1tivJ,i5! . C f ":;$:#J,W. " ) 83 1Jr 2021 12 J= 1 15 B - t:Ei:r A li l Cfl $ "q:ilE " ) [ ¥ :l;Jll]rl' f :! - o This Exclusive Business Cooperation Agreement (this "Agreement") is made and entered into by and between the following parties on 15 / 12 / 2021 , in [Shenzhen], the People's Republic of China ("China" or the "PRC") . If - ' :n = “ iliJil:: Party A: Address: Z:n": “ t!! “ _il:: Party B: Address: *ff A;{ £ C :l;JII ) #tt1=Hll0fi'J :1; J i i nHM E E 1K i Hi i il l :f i JI: H 1K :f i JI = j f WJr ttUc . * i: p ,ei, A . B A4209A26 Dayourenzai (Shenzhen) Technology Co., Ltd. A4209A26 of Tower A.B, Xintian Century Business Center, west of  Shixia North 2nd Street, Shixia Community, Fubao Street, Futian District, Shenzhen ** - ¥ C :l;Jll ) ffi ,  ,#tt:f f  li0fi'J 1 :l;Ji lnHww l K - mH irm: xN 1 H I K IJ:tl “ il i* C 3604 - &15G Daheshou (Shenzhen) Information Technology Co., Ltd. Unit 3604 of Tower C, China Resources Land Building, Dachong  Community, Yuehai Street, Nanshan District, Shenzhen lfl:n Z:n • " - :n", m• " "o In this Agreement, each of Party A and Party B shall be hereinafter referred to as a "Party" individually, and as the "Parties" collectively. r: Whereas, 1 . If - I : n - * - t:E q:i O O ,ox ; f L a< J 1 1fi j !i t 11?: , tJlFi f M H ! † . “ .'a' *  c 5E 5l x ) : k a< J tt:: t 3 f , 2 t t t :;f t mt1 r foti :;f t i W a< J f l , n t 2 l o 5J i tm{; Party A is a  wholly foreign - owned  enterprise  established  in China,  and  has sufficient capacity, experience and resources for providing technical development, technical services and consultation in relation to the   Principal  Business   (as  defined below); 2.  Z : n - * - t: E q:i 00 hx.l l a< J P - J 0  E l , i: p 00 ii & Jf f $ fl !tii:Ji J /A${ *· tt::t,ttffmtt::tffi a<Jtt::t3f ,tt::tff ,tt* ,tt::tm I . tt• m m • · * . , , Utta<Jff l , C ffl/A - ffl ffl - M *), &tt::t lli Ƒ , "m . ttumtt#,ff l mtt#a<J3f£,ff l , s m . ff l , mm• m  ff l , = fi M  a<Jffiff o Z † & - t:E:;$: : x JU1 P - J ( f J ff 1ri J 0 1 1 111T t 2 1i ' #'ii . (J{] 111T 9 m ) - i9J it • " . “ . ff Party B  is  a  company established in  China with  exclusive  domestic  capital  and as  registered with the relevant PRC government authorities, is permitted to engage I fiH!Dtf!:j : Strictl y Confidential

    	 

    	 

    

in technology development, technology transfer, technical consultancy, technical services in the field of information technology and computer technology, network engineering, computer system integration, ticket agency, sale of electronic products, communication equipment, security equipment, and electronic commerce (no value - added telecommunication and financial business may be engaged), import and export of goods and technologies, cross - border e - commerce, development and sales of computer software and information system software, and sales of daily necessities, pet products, and kitchen and household goods, sales of class II medical devices . The businesses conducted by Party B currently and at any time during the term of this Agreement are collectively referred to as the "Principal Business" ; 3. 1i [B J 52: t1 J ff l ;t t ti# , A F3 . l D f? i f iJ t , - * 1£ # J W JiJ:l fa ] Z , 1 i l i i fJ " :J: : .:E *li#T T - M , † ;t t  ffl:J:: m . Z,1 J 4 1:j3 Jt m JE 1i *th•ix ?k (I{] tJ \ lJ m E'. 1 Et t o Party A is willing to provide Party B with technical development, technical support, management consultation and other related services on an exclusive basis in relation to the Principal Business during the term of this Agreement, utilizing its advantages in technology, team, and resources, 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 . E . 1:j31f z.., - ft. Now,  therefore,  through  mutual : discussion,  the  Parties  have  reached  the following agreements: 1. li*m Services Provided by Party A ra J 11 = 1 - 1 z 1 .1 t P * * . \ l tJJ , ix : * Ƒ 9k14 , z a JJ: t ff 1:J31i t E * tJJ , i m x flfi l *:rR: IPJ Z,t f mf A 0 0 !'r - Jtt # x t - f, itl ] l D ;ttfilit B *mi gs., † t2if † B r !;A pg : Party B hereby appoints Party A as Party B's exclusive services provider to provide Party B with comprehensive technical support, consulting services and other related services during the term of this Agreement, in accordance with the terms and conditions of this Agreement, including but not limited to the following : (1) i'f - aJ Z, 1if ffl 1:j31J1JH 15'"r!:tR::f1J (r - J.! † _:i:: g q,.:fJ" *B{]Hi#t Ƒ f't: Licensing  Party B  to use   the  technology   and  software  legally   owned  by Party A in relation to the Principal Business; (2) 7'J z_, 7J .:1: ff % - rfr mi (3{] :ri#:ilHf i.93t, ff tit, t{H? Ei J!JrJr, 1H f  tE I fJ # i ti J l Ƒ ti*Mb i *; Design,  development,  maintenance  and  updating  of  technologies necessary for Party B's Principal Business, and provision of related  technical consultation and technical services; 2 f.i'l &;)tftj: - Strictly Confidential

    	 

    	 

    

w > tta m  ff i  m&ffi*ftff l , a •  - •  !!t ; Design, installation, daily management, maintenance and updating of  network systems and related database; ( 4 ) GJJ t 9 - cA † .! l' f Jri :;f :x f Ƒ '. 'i lJ { hJll: Technical support and training for employees of Party B; 0> MGJJ*f i * tt;¥ : m1⁄4 m J¥ J • mc*oo m1B'r PJ j s '.11 :  M :$ J¥ J m:tmiff l 1 t :$tr ) : Assisting Party B in collection and research of technology and market infonnation (excluding market research business that wholly foreign owned enterprises are restricted from conducting under PRC law) ; (6) / 9 GJJ 1 { '.i t f!<&i : Providing business and management consultation for Party B ; c1 > J9 G m 1i m if t :t m T I t t Ƒ m , n1193 - : Providing marketing and promotional services for Party B ; (8) ff t z fl] IHi \ j} r F £ : Development and testing of new products ; (9) i&: , lliFl:lHR: tO Leasing of equipments or properties ; and ( 10) ?' £ ffi l i! W f t i f (t - J't l ;,5c , r , 1t h B 6 JJ 31 < T m : f B - Hl{J: t Er - 1 {mffl *R!t*o Other related services requested by Party B from time to time to the extent permitted under PRC law. 1.2 61 J t i E!31 J :tR:{J t B't l i j % - o 1 J , l= P 1 J e y H J E * 1 J B £ it - ith m S{ J ijf 1 H M f A 1f C i t i/ t t J E 1 J P I l?J - 6 1 J 1 E * #H,i 1. 3 Wi ! ¥ ] - ® ) / ' J G / J mm * J E m 9 3 - o G1J* - - . ir ff:l 1J*!fr. llii \ iiJg, a* iiw:JfoJ,  mt2is: •1 - i 1JE B' - Jnl1*M 1m • . 6/ J  m•m Mf f  ffi - 1 J  fflff W * ffl m , :fM ffWffi=1J * m • ffWffi 1 ! ¥ Jir - 11 = 9 - c 0 Party B agrees to accept all the services provided by Party A . The Parties agree that Party A may appoint or designate its affiliates or other qualified parties to provide Party B with the services under this Agreement (the parties designated by Party A may enter into certain agreements described in Section 1 . 3 with Party B) . Party B further agrees that unless with Party A's prior written consent, during the tenn of this Agreement, Party B shall not directly or indirectly accept the same or any similar services provided by any third party and shall not establish same or similar corporation relationships with any third party regarding the matters contemplated by this Agreement . 3 ,M , : :.z n Strictl y Confidential

    	 

    	 

    

1 . 3 f l f 8 t:JiHJtl J A Service Providing Methodology 1 . 3 .1 , Ef 3 z.i ,x; Z 1r fEJ t * r 11Hx P - J , t! E tJHJ t w %:' . , z.i JJ n r 12 ), Ef3 1 J 1Jll i  Ht l 1Jill - W  U m . ITT P - J$ , - A  - - fi l o Party A and Party B agree that during the term of this Agreement, where necessary, Party B may enter into further service agreements with Party A or any other party designated by Party A, which shall provide the specific contents, methods, personnel, and fees for the specific services . 1. 3.2 73 Jt “ ili Jm ff* t:JJ, ix, z.i xX 1r fEJ :e:, t! \ 1.ttHJt w JE: • z.. 1r a* #J, 1 J  Ef31Jffi%:'.Ht l 1f m *illMff l M - 4 - mFfrJffl m . Ef31Jff l i¥ J  4.mFmm z. , 1 J 1t m o To fulfill this Agreement, Party A and Party B agree that during the term of this Agreement, where necessary, Party B may enter into equipment or property lease agreements with Party A or any other party designated by Party A which shall permit Party B to use Party A's relevant equipment or property based on the business needs of Party B . ;f;X, t ffi I . 3 . 3 * z. , 1 J · W = !1 : Ef 3 1f r 1 "f - - r P J ti H IT T ti F {t!rt i i't - J 1 r a o o w mf t m . Ef=l1JeB . I z., 1J H1 tmJt † J'.: M19iFlO:ilv.*, 1t1fr - 7'9 rttf ftitITT wdl:df t 0 Jil l a t Ji :JHT u F * it - @ - [if ] ' x1  19 i F $ttli: Ef,j *' ;j,X;f Q * - 1!:J:illfff, j fl:' . 0 Party B hereby grants to Party A an irrevocable and exclusive option to purchase from Party B, at Party A's sole discretion, any or a 11 of the assets and business of Party B, to the extent permitted under PRC law, and at the lowest purchase price permitted by PRC law . The Parties shall then enter into a separate assets or business transfer agreement, specifying the terms and conditions of the transfer of the assets . 2. I i 1¥3 fk x H1 J 5:t The Calculation and Payment of the Service Fees 2 .1 :t f ]is : t1J , i x : x Y A IA J , Z. , 1J @ Ef11 J x { 1 IT T ff l $ f!,i ; 9 Ƒ i; - 1 J A i t :   The fees payable by Party B to Party A during the term of this Agreement  shall be calculated as follows: 2.1.1  x - 1]1s:tt1 - ix i; - Ef= l 1J m 1¥J M :% - , z.,1J@f!,i; lt c :t - t£,x;Z1 J :¥H r ' - J %:' . X ) ttm%Mo & c  :t - ,x;Z1 J Htl   M M  )xt t  m † m  f f •  m%mmm m . A E E rf1 t! H l2J , i; - !E l B - Ji l lifr l k o 1 J P I l2J , ff I J Z i 1 J t “ t liff l - iA 4 HHf ::tftj:: Strictly Confidential

    	 

    	 

    

® - . - W  A A @  t t  W%f t : A fll l m r - t - J'J . 1 - J 5 j t r l' . t>JtH**ln J q : it 15 E o In consideration for the services provided by Party A hereunder, Party B shall pay a service fee to Party A on annual basis (or at any time agreed by the Parties) . The service fees for each year (or for any other period agreed by the Parties) shall consist of a management fee and a fee for services provided, which shall be reasonably determined by Party A based on the following factors . Party A may provide separate confirmation letter and/or invoice to Party B to indicate the amount of service fees due for each service period ; or the amount of services fees may be as set forth in the relevant contracts separately executed by the Parties . o) mtr: r  l'.t> J fi1diJ1L&xf!J.t: Complexity and difficulty of the services provided by Party A; (2) Ef31 i !r e ff ! (t,J rJ,z 5JL l ffi - rRdiHt fll i * Ff r 1ffi Er - J B i fs J : Seniority of  and  time  consumed by the  employees  of  Party A  providing the services; C 3) A - 8' - J Ji _ f4q; 9 , m l E f D lm 11 1 ff i: Specific contents, scope and value of the services provided by  Party A; ( 4) t † fAJl flf[*Er - J rn#h 111ftr; Market price of the same type of services; ( 5 ) 7JEl' 0 2 /'t {7 L 0 Operation conditions of  Party B. 2.1.2 :!,lo :!l Ef31f IPJ Z.1Jtt , il it PI ti# BX Z. 1J t E j ! 1T tf x {tf : fm tt#7 f 2z † i · IP J Z.1JtlHt l i & , f= , Yluti #  ilft , i t E I , tEH'it.nm m 1fJjfim& m ffi a 1 J 5 j f f 3⁄4j ( t,J,f † *,&r[ii_] qi frJB}j a If Party A transfers or licenses technology to Party B, develops software or other technology as entrusted by Party B, or leases equipments or properties to Party B, the technology transfer price, license price, development fees or rent shall be determined by the Parties separately based on the actual situations and/or set forth in the relevant contracts separately executed by the Parties . 3. ff l i . Q f = ; & l Ƒ ** *' Intellectual Property Rights and Confidentiality Clauses 3 . I 1 “ .xJ..1i Jfi l fr * t,}1 - i J J1;f1f F:i. , gi J f F 'it . 1¥ J 1 f fii J - tD Pfri f oiHF;& % F( ffi{B T , a, $ a,tt#, # W* , mW R ) . n $ ,ffl - (t,Jffi 1 = Ef31. f sJ i iifUf tz , ;& f Ll tu .ti c a r:p oo r!Jtt tit i¥J m !E r,n o 5 M*X {if Strictly Confidential

    	 

    	 

    

. F mm* w * m a m . H f f o n  *& r . * . n @ AA #. * AA fi . AA $ffl® • . m m M . R  illffi * M H fi fi . ff M ® % M m - - n . w n m•F *  CBMff i ff i m m  fffiltr , r) o Party  A  shall  have  sole,  exclusive  and  complete  ownership,  rights  and interests in any and all intellectual properties or intangible assets arising out of or created or developed during the performance of this Agreement by both Parties, including but not limited to copyrights, patents, patent applications, software, technical secrets, trade secrets and others (to the extent not prohibited by the PRC laws) . Unless expressly authorized by Party A, Party B is not entitled to any rights or interests in any intellectual property rights of Party A which are used by Party A in providing the services pursuant to this Agreement . To ensure Party A's rights under this Section, where necessary, Party B shall execute all appropriate documents, take all appropriate actions, submit all filings and/or applications, render all appropriate assistance and otherwise conduct whatever is necessary as deemed by Party A at its sole discretion, for the purposes of vesting the ownership, right or interest of any such intellectual property rights and intangible assets in Party A, and/or perfecting the protections of any such intellectual property rights and intangible assets for Party A (including registering such intellectual property rights and intangible assets under Party A's name) . iv..& 11z JJtm m c J .2 xJ.. - J r 1 - l i, A & ff! - i,A _ - :$ : ·11J, i>! . , * 1m, i>! . P - J † J . J m 1 * r 11J, ff i  - f f D oo m *ff i  ox'J..H@Mffi m m iv.** · ®tr*ffl -- J r  o o g , ff l  f f m - = - H 1Iz i i ff {n J 1: rt f † ƒ ,  , , 'I t r JU { ,eJ i :$ 1 : ( a ) 0 A “ Ƒ !ii t  # j ; Ƒ ff1PJ 1* - - c mn rn1 {jlJ{a}fi!,z. - nti g 0 11.Ht) : (b) ; • 1 - Ŷ lH'is ff i r ! W 1tJJ \ l , mt t_ m ! , iliJ † J.ifj:Jf.f W f T  t r IB t ( t, J $ ff i Jif r m z.ffWffig: ffW - H  :;$ : m w * I$ , I , M az.ff i , W  fi*,m$ , I, * ffl W *, M* ii , 9 - l IM i,'ftJUtJ (t,J ¥1  t)J t.mn iJ< 1J tutl; m , * f i f f . * f f - H † :;$:t)} iX : }i!j i f . J : l{ f 0 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 of this Agreement are regarded as confidential informntion . 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 party, except for the infom 1 ation 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 6 ti \ ¥;3tft - Strictly Confidential

    	 

    	 

    

be disclosed by any Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, 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 shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach of this Agreement . 4. i& iiE Representations and Warranties 4. I l:f l / J μ5F - : , i£ f  i.i E f D 1J (m [ ] r : Party A hereby represents, warrants and covenants as follows: 4 . 1 . 1 f:f l n £ - c p l! l 11 : t i ,a - 11 : nx . J t J t ff j Z ¥ l¥ l :$ 7 iff i 1 2 i E : Ef 3 n m m% m  nffla m * m  ffWW% n  fflmm m% M  l¥ 1 $ ey,Y E c ) o Party A is a wholly foreign - owned enterprise legally established and validly existing in accordance with the laws of China ; Party A or the service providers designated by Party A will obtain all government permits and licenses necessary for providing the service under this Agreement (if required) before providing such services . 4.1.2  f:flnc.*:rw& ,  ati 0 fi79 , fij& ,  l¥ 1 . JtIWf - n TI & K - f t1iH 1 (n fr:f J :e : ,& :tltt t C i r m D tV, ,  3 c f 1 fD JBH r Jti : #J , i ) { . : f:13 n Jti : Ht l fi, 3 cM g f i J t il i & W m m 0 Party A has taken all necessary corporate actions, obtained all necessary authorizations as well as all consents and approvals from third parties and government agencies (if required) for the execution, delivery and performance of this Agreement . Party A's execution, delivery and performance of this Agreement do not violate any explicit requirements under any law or regulation. 4 . 1 . 3 :,$ : th · i X ti J J xt ,a - $ , $1JtAff Y..%0 , i ff ' - Hl - !. 1 * J t & Jti : t ) } i5! . z J R i x xt sl This  Agreement  constitutes  Party  A's legal, valid and binding  obligations, enforceable against it in  accordance with its terms. 4.2 z:, n *i£, 1¥i i E - f Ƒ 11<w t mr = Party B hereby represents, warrants and covenants as follows: 4 .2 .1. Z , 1f 11 < c p 0 0 $ f * † - $ :fff nx; :fL _ † _ l¥l 0 El , Z, Ji 1 t# - i mmM$ %MM 1⁄2$ m m,filOOo Party B is a company legally established and validly existing in  accordance with the laws of China  and has obtained and will maintain 7 f.lrif Xf.t/ = Strictl y Confidential

    	 

    	 

    

all permits and licenses for engaging in the Principal Business in a timely manner . 4.2.2.  1JB VI:x . ,  s<J1 t - J ff 79, !1t1fl - 1HJU1<J ;& . : # It z 1 - 1 J f Ƒ il& Jtf ff!Hl EfJ fa'J : lUlt ti C :; g : mi ) l ; J_ % : , x : M fo ff* 111 · iJ ; Ext * WEf J . x : M ftff # & o Party B has taken all necessary corporate actions, obtained all necessary authorizations as well as all consents and approvals from third parties and government agencies (if required) for the execution, delivery and performance of this Agreement . Party B's execution, delivery and performance of this Agreement do not violate any explicit requirements under any law or regulation. 4 . 2 . 3 . :$ : 111 • i> ( r2 J ,'1x;x t J t i t 1t , ff f, ff r>J 5R JJ : # 1 * tx M · i Z . 1 k i x t JtJi tiHAf f Ef J S * ( o This  Agreement   constitutes   Party B's legal,  valid    and binding obligations, and shall be enforceable against it in accordance with its  terms. s . t11 - i - M l Term of Agreement 5.1 *M•i.'K g A'( 7J1E A z. B '.' t f o i 1tffl - *i1J.i.'K † .xA'(7J U1¥J;K 1I B 1T} )• i m l W lt . ' * 111 ·  i, J : x A A 7 9 - + ( 3 0) 1¥ 0 i Ef l 1rt £ M @ mz.1W oo g* W M 1t.. * WEr - Jff Mtf®•ste M M ::::: + C 30 ) i ¥ o This Agreement shall become effective upon execution by the Parties . Unless earlier terminated in accordance with the provisions of this Agreement or other agreements separately executed between the Parties, the term of this Agreement shall be thirty ( 30 ) years . Unless agreed by Party A in writing before the expiration of the term that this Agreement shall terminate upon expiration of its term, the term of this Agreement shall automatically be extended for another thirty ( 30 ) years upon expiration date . 5 . 2 f r Ƒ * t * E 111 • i J 1 f t x M p; J • ff 1a J - 1 r EfJ JtJ I t v m z. m r . 1r@ & st Ji fi2 ft ,l!A , # fl. .fttj( tJ 1ft :1: gfffl fl xt !i E!'>Jttl:rtt:#%!5X.1! . l;J _ *  Wffll;J_fi l  1 f ff o  - 1 r m M  z.$ffi* 1 f f P J “ g $ n H t Yt , 9 1 * 1J t )J , i @ T it1 r t ' g Jt, )j @i m z.B t lt . 0   During the term of this Agreement,  each   Party shall   renew   its  operation  term prior to the expiration thereof and endeavor to obtain the approval of,  and complete registration with, the competent authorities for such renewal, so as to enable this Agreement to remain effective . This Agreement shall be terminated upon the expiration of the operation term of a Party if the application for the renewal of its operation term is not approved by the competent government authorities . 5.3 1:E:ttJJ•i  JJ:.z.J † , A' ( 7Jt£J t 3, 6, l 7 Ƒ :$ : 5 . * 3 r 1¥J fiJlD.>( * t fj o 8 :f.£· \ f X ftt : Strictly Confidential

    	 

    	 

    

The rights and obligations of the Parties under Sections 3, 6, 7 and this  Section 5.3 shall survive the termination of this Agreement. 6. ff l $W $i.:x.NHk: Governing Law and Resolution of Disputes 6.1 *1'1J• iR g{J tJ iL i}.t_jJ, Mff, Jffl. fr, f1i o q: i 00 ( t - J ¥t; ; t i 0 i t I; ) ., & qti,;x_ ( t - ]Nn}c ffl The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws of China . 6.2 [l falHt o Jni ff* f11• ix Tr Ƒ ;& !'81f f PJ $ix, :4: #.J, ix xJ..1I $ tr 5tJfirl1.lt J #.J · rfij tt - J 1 1 I 1 Ƒ 12) , 1 3¥ fi e " ti Ƒ * 7iJ t iff i c t tJ1 - r a m i fie , vr n 1 1 f P J - } j B a P T 4f *i>l $m mm *• . @ ff 8',Jfr r tH m IJfr r t&m;ii e o    1r r a ( t - J ff JM “ i! ! , 7 9 :tJi l O 1r r t&ij;i e t ! · B{ ] , x t xJ .. 1 J “ 1 i 15 R t J o In the event of any dispute with respect to the interpretation and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations . In the event the Parties fail to reach an agreement on the dispute, either Party may submit the relevant dispute to the South China International Economic and Trade Arbitration Commission for arbitration, in accordance with the arbitration rules of such arbitration commission effective at that time . The place of the hearing of the arbitration shall be Shenzhen . The arbitration award shall be final and binding on both Parties . 6 . 3 M fO J5 l f f :2$ : t}J > i x m 5 1: . 1 1 f P J $ i x E X ff foJ $ i,) ( I E I T :itt f f frp a t , $t.:x . Et - J $r_m Jr. x ) ' . 1 m I $fi l  f f 1t - e - E l a *ti}ix rJtF ff{ ] ftlrt - xl L * l a ff Elf£4#Ji - x rEt - J fmJl..*o Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement . 7. 3l :lfftl:JfHt Breach of  Agreement and Indemnification 7.1 G 1I 13 - ! t.t i:ti,& * #J• i5U:!'A r a<J ff fiiJ - "J JE'. , Q Q / f ]{ I ff , ::; f .7E RI f f ff * r w - JJ. . , z1Ia:21s = r ii tJ.J o     EJ31I 1f tx 1)t z JJ1 r iE Q1⁄4* * r 1.Ht tttL :ti Ƒ a EJ3 - JI z - JI tz tll "t5 ffi il!H o tt tR: te =r r 11: 1t@ a< 1 + c 10 ) 7( P - J c EJ31I * !'8 f ili ii :i:.1 Jj V:I) zjj•{Jj 5 td IE * 1rf11£1nlli, D!U Ej31f t9. † 1Ti'ieJE (1) it * . #  *Z1I $  fflWMffl: m *D Bti Ghft * ra< J * ' #  *Z $ ffl*Mffl"* !JJHiFJ. EJ31I - tE*i1l·W. r 1ffPJ;tt1ilitXllJ o 9 :f.£,W ] X {tj : Strictly Confidential

    	 

    	 

    

If  Party B  materially breaches  any  provision   under  this Agreement,  or  fails  to perform,   performs  incompletely   or  delays  to perform  any  obligation  under this Agreement,  it  shall  constitute a  breach under  this  Agreement  on  the part  of  Party B. Party  A  is  entitled to  require Patty  B  to  rectify  or  take  remedial measures. If  Party  B  fails  to  rectify  or  take remedial measures  within  ten  (  l  0) days  after  Party A  delivers  a  written notice  to  Party B  and  requires for  rectification (or within any other reasonable period required by  Party A),  Party A  is  entitled to,  at  its sole discretion, (1)  tenninate  this  Agreement  and require  Party B  to  compensate all  the  losses;  or  (2)  require  specific  performance  of  the  obligations  of  Party B under this  Agreement  and require Party B to compensate all the losses. This Section shall not prejudice any other rights of Party A under this  Agreement. 7 .2 i lf:Hd f t1⁄4!YE ,  Z Ji a ff Mt ) U1 J : f 1  lf l JJff i J t 1iXM * #J, i, )(_ 0 Unless otherwise required by the applicable laws, Party B shall not  unilaterally terminate this Agreement in any event. 7.3 mt ff  JJ ;j;lHtt t1H iPJ z 1f fNd;tt Er - J mt%· fofr f= 1: ƒ .I1X'31 J † !'r - J JJt t xt 1i Er - J W .  MP X *Wff i ffWff l  ,ff l . ffI1Xftff i @ EB z 1f1H tS - E!31f, ff 1:J31f ff{uJtw*, F t . t , :vt ffPXmff i Œ E! 31 f ffl* M P X f f Wf= 1 : " . o Party B shall indemnify Party A and hold Party A harmless from any losses, damages, obligations or expenses caused by any lawsuit, claims or other demands raised by any third party against Party A arising from or caused by the services provided by Party A to Party B pursuant this Agreement, except where such losses, damages, obligations or expenses arise from the gross negligence or willful misconduct of Party A . 8.  :;fQJtJi:jJ Force Majeurc 8.1 EB - f - !tl ! . i:sMt , iA1J< . J<.Jt, mtfr: J L $. ff W fil#f f 1 f  $MJ t $ - iL, *I Lt eyttjJ$# c "  eym,n") , Wf t * W - 1f ftff. mff  M ff* W , QJttn - 1f xt ffiffl }Jiff o fa * i}jll1'1]Ef:J - H@tfr.11P* fil “ & ¥i 5' - 1f 'N..lli - tSffiiim o. * ma,tx: r “ h - tSIDWJ;uFn+ n c 1s) 7(17'] r ¥i ;, - JJmf;tt PJtt * #  Wff i  ffi*fi l tt . mf f # ff . 1⁄2Rfi I!xitm j E R J m fr 8 1 mt !E l o In the case of any force majeure events ("Force Majeure") such as earthquakes, typhoons, floods, fires, flu, wars, riots, strikes or any other events that cannot be predicted and are unpreventable and unavoidable by the affected Party, which causes the failure of either Party to perform or completely perform this Agreement or perform this Agreement on time, the Party affected by such Force Majeure shall not be liable for this . However, the Party affected by such Force Majeure shall give the other Party VvTitten notices without any delay, and shall provide details and related documents 10 fJHt>C11f - Strictly Confidential

    	 

    	 

    

evidencing such event within 15 days after sending out such notice,  explaining the reasons for such failure of, partial or delay of performance. 8.2 E “ 5 *  P1mt J Et - J - 1 f * tR W - t J l; g Jfi l Ƒ - 1 J #111 ( t - JilE . ff l Hff . 1⁄2Cf f  fi l  Mf f *   X  1¥JMff o mmt J (t - J - 1f $  ili *  l¥ J  tJ. +  mh l¥J *' #a eytJttJ RfiM *Q Mh 1¥J - 1Ja PJmhWM aff *l¥J m * Bff * . 1f@ - 1fffifflfiffo If such Party claiming Force Majeure fails to notify the other Party and furnish it with proof pursuant to the above provision, such Party shall not be excused from the non - performance, incomplete performance or delay of performance of its obligations hereunder . The Party so affected by the event of Force Majeure shall use reasonable efforts to minimize the consequences of such Force Majeure and to promptly resume performance hereunder whenever the causes of such excuse are cured . Should the Party so affected by the event of Force Majeure fail to resume performance hereunder when the causes of such excuse are cured, such Party sha 11 be liable to the other Party . 8.3 fiJvt h at , xl1J$JLep1[ffi#J, , 3R:itJ&0 - 1JZNHR1 J , :ff ili - W*e . g * eytJth † *o In the event of Force Majeure, the Parties shall immediately consult with each other to find an equitable solution and shall use all reasonable endeavours to minimize the consequences of such Force Majeure . 9. im!m Notices 9.1 * tlJ, iJ r_m "F ::R 1¥1 l!x * tlJ, iX * l¥J ?Jr ff mi Ƒ l Ƒ J=.t1m3m {g fl im :ii 1f A j! . t t li l , H J W t f9 1 N , iff j t  iiM! l 9) - , 1t - ltE ! 1=g - f - H J 1 4 Ef J 1 J :ct 1f "FM hl. ® (t - ]Bffl "F1J:rtm JE: All notices and other communications required to be given pursuant to this Agreement or otherwise given in connection with this Agreement shall be delivered personally, or sent by registered mail, prepaid postage, a commercial courier service, facsimile transmission or email to the address of such Party set forth below . The dates on which notices shall be deemed to have been effectively given sha 11 be determined as follows : 9. 1. 1 im Ƒ Po :W: 1f A 3fil il i l¥ J , Y W - 1 £ " F Ju “ il i i:1 [ t t 45 [ , if ii - = f " F 3/Ll “ t!!J_[ [ z E L 79 f * E l ; Notices given by personal delivery shall be deemed effectively given on the date of receipt at the address set forth below, or the date on which such notices are placed at the address set forth below ; 11 f. lt:X1 - 1 f Strictl y Confidential

    	 

    	 

    

9.1.2  Jff i D D* 3⁄4 ·tJc nli , t t I B - :ex111Bf'A f 11 ili ( J{J , !i!t l ff hl - tti&,ffii& Wffi - ffi#zB,7'Jff * El, Notices given by courier service, registered mail or prepaid postage shall be deemed effectively given on the date of receipt, refusal or return for any reason at the address set forth below ; 9 .1.3 i m Ƒ * 3⁄4 f 1⁄2 A 1st il i () { ] , !J!lj IA J f Uf' 1⁄2 A pi j n x J}Jf 1⁄2 * Z 6 7'J W * B c @ nxB' - J** •  ffi A )oi m - 1'1⁄2 - =f 111B14 '& . t b Ef<:J , !i!t l f f 1st 1tt: - 1J4jJrn t1 E I B , , 1.r - tl:1 4 nxJJJ :sJt, (£ 24 /J,a t *i&i U Fif j lllBi4*•i!zEJU!ffi@l B' - J]UJH AH< : JM . - =f # *ZB 7 'Jff *itBo Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission to the Fax no . set forth below (as evidenced by an automatically generated confirmation of transmission) . Notices given by email shall be deemed effectively given on the date of successful transmission, provided that the sending Party has received a system message indicating successful transmission or has not received a system message within 24 hours indicating failure of delivery or return of email . 9.2 7'Jim D B' - J † s<J , X1 (1J “ t!! “ 1Um : For the purpose of notices, the addresses of the Parties are  as follows: E¥1J : *f f A E C :tJII ) fHif f 0 Party A:  Dayourenzai (Shenzhen) Technology Co., Ltd. “ m “ .11 : : :t J 1 1 r n :ffl i 8 3 l R f ffifij i1f E JI U l R 1: 1 Jl t = t! J lff i IJ r x ttt iff i 95 - qi ,l; \ A.B A4209A26 Address: A4209A26 of Tower A.B, Xintian Century Business Center, west of Shixia North 2nd Street, Shixia Community, Fubao Street, Futian District, Shenzhen tl!x:{ 4 A: Attn: - =f!bB14: Email: Zn : *it - ¥ C :tJll) {1 L ,f,l.ttf f i Party B: Daheshou (Shenzhen) Information Technology Co., Ltd. itE.iJ.I:: :tJllrnr - ?J LlJ [R  nHir@* :t “ lR$1fiJI!tl!::kJi c 3604 7G Address: Unit 3604 of Tower C, China Resources Land Building, Dachong Community, Yuehai Street, Nanshan District, Shenzhen tl!x: it A: $!M¥= Attn: 13703031550 Et!. - =f itm  f4: sam.l@dhssys.com  Email: sam.l@dhssys.com 12 Wl ' ;tftf : Strictl y Confidential

    	 

    	 

    

9 . 3 {f M · 1I D T t t * ;I; ] JI;'. a< J 1I j: t !lit ! B t ti; - J S - Jf il i il f Ƒ l * t:& : 4 ilfl 9; Ƒ a<:J “ tE. “ 1 t 0 Any Party may at any time change its address for notices by a notice  delivered to the other Party in accordance with the tenns  of this Section. 10.  i1}i5(1¥J U: Assignment 10. 1 z , :n: - r - 1 - tt * tJJ,t5l.J w r a<:J;t:Jf U !: j x. i l  m · : :n , M t : % 1iE fi j !:1 3 : n l¥ J 4 5 0 0 jE J • 0 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 Z - 1 I 1 £ !l:t fq l i@ : , i I: : K i J=IH t 3 3 AJHiHJ \ l 5 E , 1 J P T l;J , 1 .::: : 1I $ it * ra<:it t x . . *t r i l : n m z,:n il i OOilf l , # H W W  ilfilfflZ - :na<:Jfq!•o Party B agrees that unless expressly required by the applicable laws otherwise, Party A may assign its obligations and rights under this Agreement to any third party and in case of such assignment, Party A is only required to give written notice to Party B and does not need any consent from Party R for such assignment . 11. 111' i5l. l¥J 1t iuti: Scverability ** W aw - $ mfflff aaw:noo• • , * m  ff . * a<: i tl , t t m H t t @ « H  :nffi ff l o  :n@® M M  - . $ !; ), PJl;J, &  :nM M  B * fi « ® , e y  fia<: i . w a<: i ffi ? a<: i m @ge y !: j ® , fr1¥J m  m ?  a<: i m ff i o In the event that one or several of the provisions of this Agreement are held 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 negotiate 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. tl}i)!Jj<J1 t&, :t Jt Amendments and Supplements x * 1 t!J , i - 5 ( ft : “ 1 l¥J ff f 111 n , 11 !: j * ft > , 1 6 1 @ t? : & - : n tj, ff i 1 J .r t 1t il i o £ M 1 J - a< J 7 R * . 11], i5 ( l'811. i i;J , i - >! . ll l 1 ft > i;J , i5 ( * i;J , i5 ( a< J 1 1 $; $ 5 t , J{ff 1 = * i ttH5l./ff J l'8¥t1 f  fJ o 13 :j ; J (, 1 .f ;Xf4 Strictl y Confidential

    	 

    	 

    

Any amendment, change and supplement to this Agreement shall be made in writing by all of the Parties . Any amendment agreement and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral part of this Agreement, and shall have equal legal validity as this Agreement . 13. ftHf Successors * o o & OOmf f f t f r A *h, jf fJ 51 : a The terms of this Agreement shall be binding on the Parties hereto and their respective successors and permitted assigns, and shall be valid with respect to the Parties and each of their successors and permitted assigns . 14. l!f1 † "l Ƒ i1J* Language and Counterparts *ll i . - fil , z - fi l o * * U M  - . *  *o This Agreement is written in both Chinese and English language in two copies, each Party having one copy . In case of any conflicts between the Chinese version and the English Version, the Chinese version shall prevail . 14 tl?it X {i - Strictl y Confidential

    	 

    	 

    

ޥଡиࠕ ͧ ࢻݱٛ҄ڰকҾܪ޴ࣩі਽иݧநے૩ݺޫढ़঵гޯࢮ؞ЎԆ ՟ҀԢ੠мԮ࣏ݝ ͧ јމҔ؋ ͨ IN WITNESS WHEREOF. ͧ Ь e Parties have caused their authorized rcpresentativ 㠬 to execute Ь is Exclusive Business Cooperation Agreement ” ೲ fthc dat e fi r s t ab o ve wr ੡ en. לޥъ֧ 澤 ࡬ⴍ 澥 य۪ޥୡҷ՚ 䟣ݱ z  Party A: Da y DŽ ⭡ 'Cl17Jli (Sh e nzh e n ) T1 ଑ ೦ 9l i: > g y C o . , LJ d. ढ़؀ z   By:  ׷ գ t Name: ৉Ѹ s   Title: ▲ݱ z  Party B: ढ़؀ ͵ B y:  ׷գ z Name: ৉Ѹ ͵ Title: ל՟ە 澤 ࡬ⴍ 澥 Ҕ㔴य۪ ޥ ୡ ҷ՚ Daheshou (Shenzh ez;i) Information T ഋ ˖ hnology Co., Ltd. A’  .. . , i . J.. ͪ ⯼ з ’ ױӉ ՚ E 䛑ベ C) LI Zan Д 1 ࡄؓі਽ъ Le g a l Rep r e sen tat i veExhibit 10.4

 

J R ;tt}9 l ¥flt,} } i,J (. Equity Interest Pledge Agreement *JR cr "* "> r n - =f 2 m 1 12 15 Ba $$ A j3⁄4 . f 000 Crl $ " $ 00 " ) : ljilm i - T : This Exclusive Interest Pledge Agreement (this "Agreement") is executed by and among the following Parties as of 15 / 12 / 2021 , in Shenzhen, the People's Republic of China ("China" or the "PRC") : E!3n= ::k1rAa c :1J11> tt1f l!0ii.l er " ttA" > , - i>f:&mi$OO ¥ t i9:.1Ll o 1¥a 1¥ J 1' r 1 H!l l 0 ii. I , ttM:t:iht.rl : : I m J I I W i B 3 t K t i mm : 1=i Jlt “ lK 1 : i J l t=f!riffifJr it t citij 4 $ ,t , A . B A 4209 A 26 ; Party A : Dayourenzai (Shenzhen) Technology Co . , Ltd . (hereinafter the "Pledgee"), a wholly foreign - owned enterprise, organized and existing under the laws of the PRC, with its registered address at A 4209 A 26 of Tower A . B, Xintian Century Business Center, west of Shixia North 2 nd Street, Shixia Community, Fubao Street, Futian District, Shenzhen ; Z n 1: *ti - ¥ C $ 0 , filiiE%iiih: 442000199002165453) Party Bl:  LI Zanyu(a Chinese citizen with  Identification No.442000199002165453) z n 2: w c $000 , filiIE% = 4301s119s10329001x> c zn 1 - ,g - "il i A " ) Party B 2 : XIE Jing(a Chinese citizen with Identification No . 43078119870329001 X) (together with Party Bl, collectively as the "Pledgors", and each a "Pledgor") . ::k1r - =¥ C iJII) f ,1 ,  tt1f ll0ii.l pgn:   tm:l:.rl:: :IJilmWhlJlK - mtf!ri1I::kfllt “ lK$ IJ.i1.:ttl!::kJI c 3604 It!JG Party C:  Daheshou (Shenzhen) Information Technology Co., Ltd. Address: Unit 3604 of Tower C, China Resources Land Building, Dachong  Community, Yuehai Street, Nanshan District, Shenzhen a* $, .!9lttA,  ili A pgn r " - n", 1r " n"o In  this  Agreement, Pledgee,  each  of  the  Pledgors and Party C  shall be  hereinafter  referred to as a "Party" individually, and as the "Parties" collectively. - =f: Whereas: 1. ili A $000 a$001f ttM - 1Ll¥J1f 1r . a* a , 1 r it3⁄4 ' 1f pg n 100 % 1¥J J R , 1 pg n t t :lll i *A m 1 oo 73 JG (RMBl, 000 , 000 ) 0 pgn - *a $ : 1 Jllmtt : llli . 1 Ll ¥ ] 1 f l! 1 f 0 ii . l O pg n 1 f • a • ili A M Aa* r! ¥ J 4 #mm ! ¥ J ® i 2 ; tt ; The Pledgors are either citizens of China or limited partnerships validly registered in China, who as of the date hereof collectively hold 100 % of the equity interests of Party C , representing RM B 1 , 000 , 000 i n th e registered capita l of Party C . Party I W*)tftf: Strictly Confidential

    	 

    	 

    

C is a limited liability company registered in Shenzhen, China . Party C acknowledges the respective rights and obligations of the Pledgors and the Pledgee under this Agreement, and intends to provide any necessary assistance in registering the Pledge ; 2. J.9H)(A - * - t£1=f=t tt:JlJtl¥J5' i  H!ll. 1i:: o JfftttA1=Jp;j1J iT7J!ll.* * - f} c > : JfftttA1=JililfftA,p;j1 J  iT 7 * t t c   r>: ililfftA •7 ttlfftttAi¥J tt c r>: The Pledgee is a wholly foreign - owned enterprise registered in China . The Pledgee and Party C have executed an Exclusive Business Cooperation Agreement (as defined below) ; Party C, the Pledgee and the Pledgors have executed an Exclusive Option Agreement (as defined below) ; each of the Pledgors has executed a Power of Attorney (as defined below) in favor of the Pledgee ; 3. 7 filp;j1J ililfftA&fi * * - f} - ' * tt tt  ri¥J *' ililfftA am1Jl=f=tm 1¥J $ :& lfftttA p;j1J ililfft A&f i *  * - f} - ' * t t t t rl¥ J  *•ililfft 1'1f!{ijL To ensure that Party C and the Pledgors fully perform their obligations under the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement and the Power of Attorney, each of the Pledgors hereby pledges to the Pledgee all of the equity interest that such Pledgor holds in Party C as security for Party C's and such Pledgor's obligations under the Exclusive Business Cooperation Agreement, th e Exclusiv e Optio n Agreemen t an d th e Powe r of Attorney . 7Bfi a #l¥J . %1ifi>E H r iT* o To  perform the  provisions  of  the  Transaction  Documents  (as  defined below),  the  Parties have mutually agreed to execute this Agreement  upon the following terms. 1. >E Definitions * i5C i,m , rJ ƒ tl i! : Unless otherwise provided herein, the terms below shall have the following  meanmgs: 1. lffttt: mililfftAtlH@*11J,i,5( 2 rJfftttA1¥J1f! /fmtt, PmmittA $ 1¥J, ilimiA!.v:i mittAl¥Jmi tt , mi tt 1 ¥ J IJ ;: iJt,t c ftl ¥ Jtt 5 f U o Pledge : shall refer to the security interest granted by the Pledgors to the Pledgee pursuant to Section 2 of this Agreement, i . e . , the right of the Pledgee to be paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from th e auctio n or sal e of th e Equit y Interest . 1. 2 m i :& : milimi A † liui} - itf #  1¥Jp;j1 J 100%1¥ J  tt , f p;j1Jtt:JlJt *A ffi 100 niG, ,& * - f} - ¥! 1  1¥J - t£p;j1Jl¥J t'fi3 tttt o Equity Interest: shall refer to 100% equity interests in Party C currently 2 *.>C11f  Strictly Confidential

    	 

    	 

    

held by the Pledgors collectively, representing RMB 1,000,000 in the  registered capital of Party C, and all  of the equity interest hereafter legally acquired by the Pledgors in Party C. 1. 3 m ¥f l M i : m * i9J i t 3 1kt.fil ) l:' . 1¥ 1 M fa J o Term of the Pledge: shall refer to the term set forth in Section 3 of this Agreement. 1 . 4 3 t Jt 1 tf :: mr,,g : 1 J MlJCA . - f - 2012 : ¥ 12 J=J 15 B iT 1 ¥ JJ!k* 4 1 t i 9 fi 5 l C "J!k* 4 1 ti 9 Ji 5 C') ; iliMA, pg : 1 J M : &A - t - 2021 : ¥ 12 J= J 15 B i T 1 ¥ 1 J!k* W J : & 1 i> l c "J!k*W J : &i 9 J - W" ) ; f Ƒ il i M A - f - 2021 : ¥ 12 J=J 15 B 1 ¥ 1 : & rfr C " : & rt " ) , &xtlit r Jt 1 tf : l ¥ J{ffi 1 J f c& , f i,J ; fD / ]! o Transaction Documents : shall refer to the Exclusive Business Cooperation Agreement executed by and between Party C and the Pledgee on 15 / 12 / 2021 , (the "Exclusive Business Cooperation Agreement"), the Exclusive Option Agreement executed by and among Party C, the Pledgee and the Pledgors on 15 / 12 / 2021 , (the "Exclusive Option Agreement"), Power of Attorney executed on 15 / 12 / 2021 , by the Pledgor (the "Power of Attorney") and any modification, amendment and restatement to the aforementioned documents . 1.5 5 ( 4: :H i il i M A t f J!k * W J l X i9J - i5 l , : & rt ; f * Ƒ i> l tff i r ffi 1¥1ffi 5(4; pg:1Jtf * * i9J - W, *WJ :&i9J - W, l Ƒ * ,it tffi r rfi 1¥1 rfi 5 * l o Contract Obligations: shall refer to all the obligations of the Pledgors under the  Exclusive   Option   Agreement,   the  Power  of  Attorney   and  this Agreement; all the obligations of Party C under the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement and this  Agreement. 1 . 6 t! ! 1  *: m m : & A m 1: “ 1 y,,g 1f A l Ƒ 1 a 3t J t 1tf: r 1¥ 1 1 f fA J :i i t •#w a  l¥11⁄2 $ ' ,ff i  ff l eyffit t l¥1 - o • m 1¥1 •1¥ 1 m m - t - M:&A •1¥1 • t t • ffi ,pg:1Jtf * * i9J - W:rffir@ M1¥1m4•m,a3t J t ftf: r 1¥ 1 :i i g/,J g 1 & ffl * • ff l , & M : & A Y 9 5.¥. fM il i M A ;f Ƒ / pg :1J fr 5(9) - W l¥Jffi - fflo Secured Indebtedness : shall refer to all the direct, indirect and derivative losses and losses of anticipated profits, suffered by the Pledgee, incurred as a result of any Event of Default on the part of the Pledgors and/or Party C under the Transaction Documents . The amount of such losses shall be calculated based on such factors as the reasonable business plan and profit forecast of the Pledgee, the consulting and service fees payable to the Pledgee under the Exclusive Business Cooperation Agreement, damages and relevant fees under the Transaction Documents, all expenses occurred by the Pledgee in connection with enforcement of any Pledgor's and/or Party C's Contract Obligations and etc . 3 WJti4  Strictly Confidential

    	 

    	 

    

7. iit'tJlHtf:: m:;1s:11J,i,5<.ffi 71kJ=iJT Ll1f1PJ'tw o Event  of  Default:  shall refer  to  any  of  the  circumstances  set  forth in  Section  7 of this Agreement. 8. iit'tJ5m5;a: t M;ttAtlH@:;is:i1J - i5<. te s<J ;(Jiiit'tJ$1tf:s<J5m5;a o Notice of Default: shall refer to the notice issued by the Pledgee in  accordance with this Agreement declaring an Event of Default. 2. M;tt Pledge 1. 1 “ 1 M A ttjPJ:e: i M WIN: ;tt fffl:;is: i1J - i5l s<J t' - J JE 1 “ 1 M M ;ttA 1t79 J& ff jP J *  ff l  ff l  ffl*s<Jff l o  1fttjPJ:e:l “ JM A  fffl:;is : s< J  JE M W IN :; t t 1 “ 1 M M ; tt A o The Pledgors agree to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement . Party C hereby assents that the Pledgors pledge the Equity Interest to the Pledgee pursuant to this Agreement . 2.2   f:EMWWWiJ, F  J:fHt Y!fJil .11:,  M;ttA1f;tt410fXMWJN:;ttfoJTf=1:.  s<Jt t IN : o * M;ttA$ % ffijPJ:e:,l “ lM A ff i ffi M tt;tt *fflB"JJN: *ttol “ lMA MWIN:;ttW*ffls<JJN: *ttf:E l “ lM  A m  s< J  AMffi & -- M;ttAB" J  *(l )  AM;ttAs<JmJE   P .  M;tt A  ff,#ff l  ff l jP J  * ®  %Mfflffl † ffl*:   C2) tE t:fl OOY!W .11:s<Jmll , t:fl OOit ftif s<J1f:r.t .tlt ttlLl,  & 1k #  M *  M;tt A  M;ttAmJEs<JAo During the term of the Pledge, unless prohibited by the applicable laws and regulations, the Pledgee is entitled to receive dividends distributed on the Equity Interest . Without the prior written consent of the Pledgee, no Pledgor shall receive dividends distributed on the Equity Interest . Dividends received by any Pledgor(s) on Equity Interest after the deduction of individual income tax paid by such Pledgor(s) shall be, as required by the Pledgee, ( 1 ) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to making any other payment ; or ( 2 ) to the extent not prohibited by the applicable PRC laws, unconditionally donated to the Pledgee or any other person designated by the Pledgee in the manner permitted by the PRC laws . 2.3   tEM;ttA•% ffijPJ:e:s<J'tl15l r, l “ lMA1fJJJx 1  1f:tt H o l “ lM A  x& 0  mmwa 0 mm:;1s:t:p m  s<J1 “ 1m a • M  JN:;tt ,  1 f  79 .tl t U* - s< J MW i1 } , # m  s<Jl “ lM8b•MWf f o The Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee . Any additional equity interest obtained by any Pledgor as a result of such Pledgor's subscription of the increased registered capital of the Company shall also be deemed as Equity Interest, and the Parties shall enter into further equity pledge agreement for this 4 1¥. ' )t# Strictly Confidential

    	 

    	 

    

purpose and complete registration of the pledge of such additional equity  interest. 2. 4 Ƒ p; j 1JttHi ftW a<J ; tt · l t1JJl!J i¥ E ff - =f [;,J, M E>t MW,a p;j 1J - 1«1t %.51⁄4 M  E>tM W † ,iliMAMp;j1J - f«ft *  a<Jff W .@mffl M A   a< J  *Cl)HA M  Aa<JmJ E ? , M A  ff , #fflrffl* 4 Mfflffl*ffl4 ; E> t  C2) a ft W M  a<Jff i .   [;,J , f t W f t a< J 1 J # M - = f M A E> t M Am J E a< J A o In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to the Pledgors upon Party C's dissolution or liquidation shall, upon the request of the Pledgee, be ( 1 ) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment ; or ( 2 ) to the extent not prohibited by PRC laws, unconditionally donated to the Pledgee or any other person designated by the Pledgee in the manner permitted by the applicable PRC laws . 3. MW I! Ter m of the Pledge 3 .1 * M † * #J - i50y(F a< J M W 119: ill Ma ffl@ a< I J 1ffj ff ii& ff :E]!f}l f t ic. z B . M M M ffi 4Bff% *  ff i  a<Jffl*ffl 4Mffl% * oiliM A  p;j1J@C - ) † *#J - - zB® 3 I z B ,ffl*#J - a<JM ff ap;j1JJ19:* M ,#C=) † *#J - B - = - + 00) B fPJif † @a<JI[ffjffiJ&ffJJttJ1 $iiffic.*#J - i,)(:i:_mr a< J M o 7I . be 119 : M 1 ' I jff j f f . 1 J & p; j 1J 1tl!.Jl9: *@ * - Jm , t l E> t - f,H ¥ - p; j 1 I Jif r a I • ffn & f f e $ n * a<J m wa<J, & *#J - rmrM ffi a<JJ19: M c[;,J,rffl• "Irffjf f M ") • IrffjffiJ&ffe m  ,Iftf f M *  JE - :i:_m,ru[;,J,*#J - J E oiliM A  p;j1J @ a ftW - Ififfn&ffe m  a< J  :i m  *· • m a< J  ##be   ff i . *fil M a $M † $ fflf t o The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with the relevant administration for industry and commerce (the "AIC") . The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness has been fully paid . The Pledgors and Party C shall ( 1 ) register the Pledge in the shareholders' register of Party C within 3 business days following the execution of this Agreement, and ( 2 ) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within thirty ( 30 ) days following the execution of this Agreement . The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the " AIC Pledge Contract") . For matters not specified in the AIC Pledge Contract, the 5 :.t'Xf4 St rictl y  Confidential

    	 

    	 

    

Parties shall be bound by the provisions of this Agreement . The Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by the relevant PRC laws and regulations and the competent AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing . 3.2  m ¥f!A A i . jl o 1 “ m 1 AlD / !iJ Z p; j * 1 f J & ff - g - J l 4 !il x f1:I'! ! { l 4 , m A Jl4 * • ff m o During the Term of the Pledge, in the event any Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, the Pledgee shall have the right, but not the obligation , to exercise the Pledge in accordance with the provisions of this Agreement . 4. m JEiiEa<J tr Custody of Records for Equity Interest subject to the Pledge 1. {r* i, 5 ( Ji! a<Jm 11 ¥ AA i , 1 “ 1 mA 1 r* i 5 l iTZ . B - m] t t £ p ; j 1 fa<Jt t l “ lMfi l R tt m tt * M M m A Wom A 1 r * • i : $ ¥ f ! A A O O - B W @ #o During the Term of the Pledge set forth in this Agreement, the Pledgors shall deliver to the Pledgee's custody the capital contribution certificate for the Equity Interest and the shareholders' register containing the Pledge within one week from the execution of this Agreement . The Pledgee shall have custody of such documents during the entire Term of the Pledge set forth in this Agreement . s . tBmA*'1pg1fa< J *' 1  fil Representations and Warranties of the Pledgor and Party C 1 “ 1mA p;j1fM 1r* - z.B 1f &* fil = As of the execution date of this Agreement, each of the Pledgors and Party C hereby jointly and severally represent and warrant to the Pledgee that: 1. 1 “ 1mA m¥f!tt:tzlli - a<J - & JiJr Aam:tzA :tz!V - * i5l Ji! a<J1f * # iJ: m 11¥ tt:t z 0 The Pledgor is the sole legal and beneficial owner of the Equity Interest . The Pledgee shall have the right to dispose of and transfer the Equity Interest in accordance with the provisions set forth in this Agreement . 2. l “ l At Ƒ p;j1f¥.9A i:Sa<J h, f3 ht Ƒ :tz!V - iTt Ƒ f1* i5l, # 8 f f t £ * 5 l 4o * - - l “ l m A p; j 1 f - g - ,   RA - ha<J5l4, # AA M ffo Each of the Pledgor and Party C has the power, capacity and authority to execute and deliver this Agreement, and to perform it/his obligations under this Agreement . This Agreement constitutes the Pledgor ' s and Party C's legal , valid and binding obligations and shall be enforceable against them in accordance with the provisions thereof . 6 ffi')tftj: Strictly Confidential

    	 

    	 

    

fUffiJ H o Except for the Pledge, the Pledgor has not placed any security interest or  other encumbrance  on the Equity Interest. 5 .4 tl: l m 1 Al o p; j 1 J B 79 , 3( : 1 1 l O Jf l ff * i>O f 1 il&Jf - f filH 1 * ƒ = = 1 J £fJ f 5 J : e : liHtt fl c ; s= rm ) o The Pledgor and Party C have obtained any and all approvals and consents from the applicable government authorities and third parties (if required) for th e execution , delivery an d performance of thi s Agreement . 5.5 *  i - XffJ -- 3(:f'TlO./atfff.9:f  : (i) - @3&ii&1f1i'iJf'f*ffJ9=1  1ti¥;  (ii) -- '=iJp;J1J lidJt1m .IH9'::t1tJ:ffl1fkfu!il; (iii) - @3&ii&XR: - 1J dx - rXf'f - hffJffM f5Jd::t#,d XR: - 1J dx - rXf'f *hffJffM f5J ::z# ffJii ; 00 - @3&ii& ffM - 1J ffJffWilFmdmflffJ tl - f'lO(d) f'f ffJff1i'iJ 1k1lt; d(v) - @3& ff1i'iJ - 1J71 £fJff1i'i i J ,lf ey d  m f l q: i 1.1 : d I H d j ) f f :t J Ƒ 1 k 1tJ: o The execution, delivery and performance of this Agreement will not : (i) violate any relevant PRC laws ; (ii) conflict with Party C's articles of association or other constitutional documents ; (iii) result in any breach of or constitute any default under any contract or document to which it is a party or by which it is otherwise bound ; (iv) result in any violation of any condition for the grant and/or maintenance of any permit or approval granted to any Party ; or (v) cause any permit or approval granted to any Party to be suspended, cancelled or attached with additional conditions . 6. tl: I m 1 A p; J 1 J £f J ilk* Covenants of the Pledgor and Party C 1. a* i - x# MfsJ, tl:lm1Al Ƒ p;j1J f5JloJtJJ,J m1aA**: During the term of this Agreement, each of the Pledgors and Party C hereby jointly and severally covenant to the Pledgee : 1. Jflff 3 ( : :: Z 1 tJ : 1 . *t m 1 ; &A $ % iiif 5 J : t, tl : lm 1 A : f 1 iJ : m 1 WadJtffW $ 7 t, : fffltEm 1 wa dftilF#tEffW ffl*dX ffl 4 ffl ; p ; J 1 J : ffflf 5 J : td M *ffn ; The Pledgor shall not transfer the Equity Interest, place or permit the existence of any security interest or other encumbrance on the Equity Interest or any portion thereof, without the prior written consent of the Pledgee, except for the performance of the Transaction Documents ; Party C shall not assent to or assist in the aforesaid behaviors ; 6.1.2 tl: I m 1 A l Ƒ p;J1 J J † l:i l l1JtftArl f *m1 ffJfofrlf ffl 1ti¥¥ttJeffJtJil .  - lr * •m*•m1 a tl:l d ffJffW -- m+   d - . E(5)8 m 1 aAtl :l * - - m Ƈ dR .  f5] - * -- m Ƈ d - .d AAm1aAffJ *d  MaAf5J:t• *• mtl:l&x - rfifil* ƒ *; 7 l&'Xf1t - Strictly Confidential

    	 

    	 

    

The Pledgor and Party C shall comply with and carry out all requirements under applicable laws and regulations relating to pledge, and within five ( 5 ) days of receipt of any notice, order or recommendation issued or made by the competent authorities regarding the Pledge (if any), shall present the aforementioned notice, order or recommendation to the Pledgee, and shall comply with the aforementioned notice, order or recommendation or submit objections and representations with respect to the aforementioned matters upon the Pledgee's reasonable request or upon consent of the Pledgee ; 6.1.3 tB M A Din:1J $ tff fiifAJ JJoinJm ¥l1 JN;tJZ. C d;Kff f PJ$?t) 1¥] - ,: # d l¥ J .  &e y  xttBMAa* *dxttBMABfr;Ka * *ey l¥Jff W  fil,   1¥JffW - ,:# d  IIJl¥ J  9;a&Btji9;a)Pi;tll.A; Each of the Pledgors and Party C shall promptly notify the Pledgee of any event or notice received by it that may have an impact on the Equity Interest ( or any portion thereof,) as well as any event or notice received by it that may have an impact on any guarantees and obligations of the Pledgor under this Agreement or the performance of obligations of the Pledgor under this Agreement ; 6.1. 4 i n :1 J $ t E ; K g M lt@#ln w = : C 3 ) - t - J 3 1} :fJ} L .fi l *t 2 g M !¥]ff . * 1¥ ] 0 Party C shall complete the registration procedures for the extension of the operation term within three ( 3 ) months prior to the expiration of such term to maintain the validity of this Agreement . 6.2 tB mi A :l, M;tJZ.AfS(* - Jjj,i,5( ft 1ijl¥Jx,tM;tJZ.19fff l¥J;tJZ.liJ, $ iiJ  tBmAdtBmA1¥J•ff*,.ffiAdtBm A ffiAdffW; K A M llEF f l¥ J ltlrdW J o The Pledgors agree that the rights acquired by the Pledgee in accordance with this Agreement with respect to the Pledge shall not be interrupted or harmed by the Pledgors or any, successors, heirs or representatives of the Pledgor or any other persons through any legal proceedings . 6.3 t B N t A  rt J N t ;tll. A *iiE, *! P d:1r?t l * i,5(x, j i f * Ƒ f! ! *fl * 1¥ J 1. † *,tBmAff l - , # ; K ;tJZ.f f *  l¥ J  - A  - ;tJZ.Aff i  *l¥Jffiff1¥J;tJZ .  fi l , - fr # ; K  f f *   1¥ J  - ,:A&f r  ;tJZ.Aff i  *1¥Jf r  , # * - Nt;tJZ. A  ;tJZ . , tXl¥Jfr m:fJHI iJ, m;tJZ.Ad;Km;E 1¥JA( † ?&Al A) - Jifrff 1¥Jff *Nt¥l1JN;tJZ.ffiff;tJZ.1¥J #,#tE - ir M rtJNt;tJZ.Am: ;K ffl l¥J ff i f f l¥ J f f * ;tJZ . 1¥ J ,. Ƈ H ; E o To protect or perfect the security interest granted by this Agreement for the  Contract Obligations  and Secured Indebtedness, each  of  the  Pledgors hereby undertakes to execute in good faith and to cause other parties who have an interest in the Pledge to execute all certificates, agreements , deeds  and/or covenants required by the Pledgee. The Pledgors also undertakes 8 ltJt # Strictly Confidential

    	 

    	 

    

to perform and to cause other parties who have an interest in the Pledge to perform actions required by the Pledgee, to facilitate the exercise by the Pledgee of its rights and authority granted thereto by this Agreement, and to enter into all relevant documents regarding ownership of Equity Interest with the Pledgee or designee(s) of the Pledgee (natural persons/legal persons) . The Pledgors undertakes to provide the Pledgee within a reasonable time with all notices, the orders and decisions regarding the Pledge that are required by the Pledgee . 6. 4 1 “ 1 Jff i A r/:iJ Jff i ttJdiiiE , 1 “ 1 Jff i A J i , J! I f f :2fs : 11J , i,5 ( r_vff JiJ T Er - 1 *iiE, ffe , 11 J, , & #o l “ llffiA 8 ff 1⁄2 8 ff *fil,ffe , 11 J, , &*#, l “ llffiA $ Mffl ttA Er - J - Wffl o The Pledgors hereby undertakes to comply with and perform all guarantees, promises , agreements, representations and conditions under this Agreement . In the event of failure or partial performance of its guarantees, promises, agreements, representations and conditions, the Pledgors shall indemnify the Pledgee for all losses resulting therefrom . 7. i:fit $14 Event of Breach 1. r JLl li'.l'..m fffi'. t1:Jgi:fitlH4: The following circumstances shall be deemed an Event of Default : 7 .1.1 1 “ 1 Jff i Ax t 1: E 3'.t : x 1 4 & ! :2fs : 11J , i5 l J'. . r m Er - J 1 f {ii J 5t.. % H 9 i:f i & ;   Any Pledgor's any breach to any obligations under the Transaction  Documents and/or this Agreement. 7.1.2 pg 1J xt tE 3C: x 14 &!EX:;$: ijj, i5l  J'..m r H91f  {iiJ 5t.. %  Er - 1 i:fi & o  Party C's any breach to any obligations under the Transaction  Documents and/or this Agreement. 7 .2 tr a 9; 0 U!EX.bt: f :;$ : • 7 . 1 * JiJ T H91 f {ii J $ J'.. m E X "i:f f f l - @J&... t $ J'.. m H 9 li'.1 4 B   ' l “ llffiA pg1J$ 00% JffittAo Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7 . 1 , such Pledgor(s) and Party C shall immediately notify the Pledgee in writing accordingly . 7 . 3 F - 7 . 1 * rH 9 i : fit li' . { 4 tEJffitt A ri=D l “ llffiAfO/EXpg 7 J l “ l JJ< t 4 I E i : fi t ffj g OJ † H 9 =+ C 20 ) : J ( z . P - J B t JffittA JJ<fijJU 1 1 i, JffittA - tE J † H 91 f@ ,"i : ffri=Dl “ llffiA l “ l ffii : fi , JJ< ffi - 8 *ff{tJffitto Unless an Event of Default set forth in Section 7 . 1 has been successfully resolved to the Pledgee's satisfaction within twenty ( 20 ) days after the Pledgee and/or Party C delivers a notice to such Pledgor(s) requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to such Pledgor(s) in writing at any time thereafter , demanding the Pledgor to immediately exercise the Pledge in accordance with the 9 ffi - \ t)t# Strictly Confidential

    	 

    	 

    

provisions of Section 8 of this Agreement. 8. J.vi:&s<Jff Exercise of the Pledge 1. f E I.v i ; & Jd' ? ftJ t I.v i :tE J : l & %L l 13 1 , I.v i ; & A @ fP J il i I.v i A l “ FtHff i i i t" J jff i 9;r 1 o   The Pledgee shall issue a written Notice of Default to the Pledgors when it  exercises the Pledge. 2. !Ff 7.3 5k s<J i,m JE , I.v : i &A "i:iJ fE 8 .1 5k ili iit"J 3m 9;r1 z.J † s<Jff fi : iJl 31 faJ . mx t ffi : & fff t 7 ts<J : & % L l o Subject to the provisions of Section 7 . 3 , the Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 8 . 1 . 8 .1 5k 8 .3  I.v : i &A ff:& tE tHl.5 iliiit"J 3ffi 9;r1 J † , ff Jt ffl i:f:i00 ¥t1$, 3'.c: B #& * 5 k - W $ ffs<J1⁄2 $ i i m : t t . ff i f . vi & : &fifil d M , f . v i & : & m - % ffloffi : &Axt J t f f •: t t ® : & h ds<JffWff l ffo After the Pledgee issues a Notice of Default to the Pledgor(s) in accordance with Section 8 . 1 , the Pledgee may exercise any remedy measure under the applicable PRC laws, the Transaction Documents and this Agreement, including but not limited to being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from the auction or sale of the Equity Interest . The Pledgee shall not be liable for any loss incurred by its duly exercise of such rights and powers . 8.4 m:t:&Aff1tm:t:& 1ijs<Jtxr.m,m %x 11 *!.vi:tEJl&:&rro@ A<Jm• ®mm &fPJM:&A&ff *&ffl ffl † ffl*o - J'.ffiJ † ff •.M:ttA@ - 3'.c: iliMAd fflff ¥t1$,¥tmxt •r.m*  ff:& s<1Jt Ad (i:i]iliffiAmtE 0film m  .rn m zffw•  ffl1⁄2$rnilim:tAffeffl:tEi:f:i00¥t1 $ r r  ff i .iliMA @  q:i00¥t   1$f t - J'.ff i # M  f.vi:&Adffi:&AffiJ E  Ao The proceeds from the exercise of the Pledge by the Pledgee shall be used to  pay for the  taxes and expenses incurred as  a result of  disposing the  Equity Interest and  to  perform the  Contract Obligations and pay  the Secured Indebtedness to the Pledgee prior and in preference to any other payment . After the payment of the aforementioned amounts, the remaining balance shall be returned to the Pledgor(s) or any other person who have rights to such balance under applicable laws or be deposited to the local notary public office where such Pledgor(s) reside(s), with all expenses incurred being borne by the Pledgor(s) . To the extent not prohibited by the applicable PRC laws, the Pledgor(s) shall unconditionally donate the aforementioned proceeds to the Pledgee or any other person designated by th e Pledge e i n th e manne r permitted by th e PR C laws . 10 it)tflj: Strictly Confidential

    	 

    	 

    

* r t t , t t % tt . %ff ffi •mo The Pledgee may exercise any remedy measure available to it simultaneously or in any order . The Pledgee may exercise the priority right in compensation based on the monetary valuation that such Equity Interest is converted into or with the proceeds from the auction or sale of the Equity Interest under this Agreement, without being required to exercise any other remedy measure first . 8.6 ttA tt - trna:1r:ctm 1$9rp 1m1 - \ :JIA1r1t tt. ili A pe y :1 r x t li t 1 m i 111 Jr . t5 l o The Pledgee is entitled to designate an attorney or other representatives to exercise  the  Pledge  on  its  behalf,  and  the  Pledgors  or  Party  C  shall  not  raise  any objection to such exercise. 8 . 7 tt A 1:&P.¥ - *11J,i,5(. :f r ttat , il i AlDpg:1J$ r 16' !l) J,   tt A JJiil. tt o When the Pledgee disposes of the Pledge in accordance with this Agreement, the Pledgors and Party C shall provide the necessary assistance to enable the Pledgee to enforce the Pledge in accordance with this Agreement . 9. B i f. ] J1 i 13: Breach of Agreement 9.t ili Adpg:1J tiffi&* i5l r fffEJ - ' - J . d Jilff, 1⁄2Bffd MBff* r fffi'iJ - 4. dili Adpg:1J  O!A!:tl?5?.mi ) tE* i,5(.rB{Jffi ' - J O ttA  tt  5J<ili  Adpg:1J1r iE  d* 1rfJ{n1t o :tzot E tt A fti J il i Adpg:1Jbtil i  ffi3m9;o#m ili1 r iE  5}() † 8{]+ C 10) pg (d ttA 5J<B{J 1m - g - JI ir'3) ili Adm : 1 r O . ! . MW? £ mi )fil* 1 riE * *H J{n 1 t . 9 !tl ttA tt El ff tJc ( 1 ) Jt* i 5 l, # 5 J<ili Adpg : 1 J O 'tl? 5 ? . mi ) r $ 8 {] 1 YlW gf ; d ( 2 ) 5 J< 5 itMBffili Adpg : 1 J O tff? 5 ? . m i ) tE * i 5 l r 4 ,# 5 J<ili A pg : 1 JC ffl? 5 ? . mi ) r1⁄2 $ B{JfflWM o* AtE* rfffi'iJ o I f an y of th e Pledgors or Part y C materiall y breaches an y provision under this Agreement, or fails to perform, performs incompletely or delays to perform any obligation under this Agreement, it shall constitute a breach under this Agreement on the part of such Pledgor(s) or Party C (as the case may be) . The Pledgee is entitled to require such Pledgor(s) or Party C to rectify or take remedial measures . If within ten ( 10 ) days after the Pledgee delivers a written notice to such Pledgor(s) or Party C and requires for rectification ( or within any other reasonable period required by the Pledgee), such Pledgor(s) or Party C (as the case may be) fails to rectify or take remedial measures, the Pledgee is entitled to, at its sole discretion, ( 1 ) terminate this Agreement and require such Pledgor(s) or Party C (as the case may be) to compensate all the losses ; or ( 2 ) require specific performance of the obligations of such Pledgor(s) or Party C (as the case 11 tfl - lt>C 11f Strictly Confidential

    	 

    	 

    

may be) under this Agreement and require such Pledgor(s) or Party C (as the case may be) to compensate all the losses . This Section shall not prejudice an y other rights of th e Pledge e under thi s Agreement . 9 .2 F Y3 fir _m 5E, : “ L A Itfr † 1J tE 11fPJtlH5c.f.8 qf iii 1J ITff .rt † ..IG!ft *tlJ - i)lo The Pledgors or Party C shall not have any right to terminate this Agreement unilaterally in any event unless otherwise required by the applicable laws . · 10. iJ: Assignment 1. F Nit>lA$% fEJ , tfj ,&i Alllp;j1Jf.8:if - 1i iJ: † ..IGJt tE*tlJ - i5l:im  ""f a<Jt>l *U 5( 4 o Without the Pledgee's prior written consent, neither the Pledgors nor Party C shall assign or delegate its/his rights and obligations under this Agreement . 2. *tlJ - i5lxtllil9iA& 1f , ffeA C ' † .}6 ffemi¥flnit>la<J) tat ftif  a<J li/Jf.8 fir *n, #xt fir o This Agreement shall be binding on the Pledgors and his/her successors, heirs (including who inherited the Equity Interest) and permitted assigns, and shall be valid with respect to the Pledgee and each of his/her successors, heirs and permitted assigns . 3. Nit>lA "i:iJ tE1ffPJB1f t  tE3ca Jtftf: *tlJ - i>l a<JJiJrfir † ..IG{ffilit>l*U  5(4 li ffi5E A,tE # ""f.  iJ:A$$fir  ffeffi3caJt  # *tlJ - :im"""FNit>lA*fir ffeffl t>l 5(4, fEJ tlJ - 1J $$firlll11U - t$o At any time, the Pledgee may assign any and all of its rights and obligations under the Transaction Documents and this Agreement to its designee(s), in which case the assignees shall have the rights and obligations of the Pledgee under the Transaction Documents and this Agreement, as if it were the original party to the Transaction Documents and this Agreement . 4. lzsl liJiJT - @3& Nit>lA5ff Fo, $,&i1)(A :j(, 1:BNiAlll/ † ..IGp;j1J l=j  ffi  Ni1)(A  rr - fil   l=j*tlJ - - 3&  ffiNi¥fltlJ - ,#tEffi$  I  1T ff :EJ.fll*j ! 1T ic . 0 In the event of change of the Pledgee due to assignment, the Pledgors and/or Party C shall, at the request of the Pledgee, execute a new pledge agreement with the new pledgee on the same terms and conditions as this Agreement , and register the same with the competent AIC . 5. tfj Ni Alll p;j 1J$F ilt r * t1J - i5Ull 1J itiJ!k † ..IGj3⁄4 fE] {m fir* ti} •5E,'El.m3caJt#,8ff3caJt#:im""f 5(4,# j!ff1fM l;JJti O!A]tl} i)l a<J fir 'tilll ey _; flitl tAff 'ti{1= /:if - {1= 0 Ft[H@Ni1)(A 12 M X14 Strictly Confidential

    	 

    	 

    

mm , lliM A  mff M M  ftt t  ffi #  t t o The Pledgors and Party C shall strictly abide by the provisions of this Agreement and other contracts jointly or separately executed by the Parties hereto or any of them, including the Transaction Documents, perform the obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness and enforceability thereof . Any remaining rights of the Pledgors with respect to the Equity Interest pledged hereunder shall not be exercised by the Pledgors except in accordance with the written instructions of the Pledgee . 11. ll: Termination 1 1. 1 :t:E lli MAl Ƒ in 1JJt 5t, 1£ “ !!tr & f f 7 J=if r if i f 5( :% - 3 ¥ Ƒ WH 7 J=if r if f!!. - :% - ,MttA † fflWM A *.ag• - &r •  f f o o  . * M  ftt t M  , #  irlliMAbettffi:(:Epgj J  ft* ff l J=ifrf' F  fttt M !!i c (;).,&be:t:Eff l  I i  HrI &  emH 1 M ttWJ!!ico Upon the fulfillment of all Contract Obligations and the full payment of all Secured Indebtedness by the Pledgors and Party C, the Pledgee shall release the Pledge under this Agreement upon the Pledgors' request as soon as reasonably practicable and shall assist the Pledgor in de - registering the Pledge from the shareholders' register of Party C and with the competent PR C loca l administratio n for industr y an d commerce . 11 . 2 * i, 5 ( . ffi 9 , 13 , 14 ; f Ƒ *ff 1 i 1 . 2 1 Jl!JE : t : E* 11 H 5 l ll : if o The provisions under Sections 9 , 13 , 14 and 11 . 2 herein of this Agreement shall survive the expiration or termination of this Agreement . 12 .  - ¥ ,& ft!?. ffl Handling Fees and Other Expenses - t}] E i *  i,5( _ 1 I . m . & i H x, q: J ' † {1 3 r¥!W . J:l:l , I*•,   (;J.,&ff M  ft!? . - •m • Srnin1Jffefflo All fees and out of pocket expenses relating to this Agreement, including but not limited to legal  costs, costs of production, stamp tax and any other taxes and fees,  shall be borne by Party C. 13. W ff Confidentiality 1Jff e  l k  JE1 I * - * .(;).,& - - ff * W ffM Ƒ ffiM - WffiAo  1J † Mm1I  •  Wffi  A (;J. W,W:t:E*ffl - 1J OO a$, ffl ffMffi - affM Wfg ,  , , 1 t  Ju1t .  - ; ,  : (a)0AA “ l l t l l 1f1AJ1t , . ('It# rn wmAz. - 11m 0A• Ŷ >: *fflmm w m.& HJl!JlW , I&JffSl'l - ®4 ' WJ=iJra•aiz . ff1A J 1 t ,  . : (c)rnff1AJ - 1J • * m w• &*·•• - I - W M* - ••zmA, 13 lt)tflj: Strictly Confidential

    	 

    	 

    

® * - •• - I - $ M* - * - ffl Wfi ff o ff - *· •• - I - m a<JMW n a<JMW, . - ft< * tJ } i - 5 lff e 1 ! ! t/ ; J fi f f 0 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 the 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, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, 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 shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach of this Agreement . 14. ffl tf $i - 5 l a< J fH1c Governing Law and Resolution of Disputes 1 4 . 1 * tJ } i - 5 ( 8' - J i J .1 L j , J fiff , Ji i ff , f BJ( l O .11: 12). & $i - 5 l 8' - J f i ffl i : pffiJY ! o The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws of China . 2. !z9fifflO.lffl . ff*t»i - S l ® 1it1:a<Jf f  $i - 5l , *tJ}i - 5 ( @t t $timub t  ftJ} - 8' - J !;J.fi o * jffijitj}·· • ff - ey - · - m m mMa# a m . ff l a t a<J#a   1Jil!J!Ufcr8fu ¥ 0 1 c r 8 8' - J t f M “ i! ! ,¢.i : n :I J i l o 1 c raa R : , r nHi a< J , xt g/;J*jJO In the event of any dispute with respect to the interpretation and performance of this Agreement , the Parties shall first resolve the dispute through friendly negotiations . In the event the Parties fail to reach an agreement on the dispute, either Party may submit the relevant dispute to the South China International Economic and Trade Arbitration Commission for arbitration, in accordance with the arbitration rules of such arbitration commission effective at that time . The place of the hearing of the arbitration shall be Shenzhen . The arbitration award shall be final and binding on both Parties . 3. 129fu¥fflO Jm ff* ttJ, i,5( W 1it1:ff {PJ $i - 5l ff {PJ $i - 5l iE - tE:i!ff {cp 8 at, $ i - 5 la<J . Jln 7 ' , *t»i - 5 l 1 JJ@ ff{ 1 El tE*tJJ - i - 5 l : i : Jnra<J ft!! . ; ¥ tl# 14 f:i!llt>C11F  S t ri c tl y Confidential

    	 

    	 

    

J & fr EI 11 : * - i 5 l : i]r f 1 ¥ 1 jtfm .: x . * 0 Upon the occurrence of any disputes arising from the interpretation 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 . 15. ii Notices 1. * #}i,5( Jyj r 31< 1¥J : V= * - i,5( if !¥J Ji)T if ii 1; Ƒ lll jtfm im fg Ji'Z im ii A  Ji , :Ji'5Ill  , !ll  fiJHi, ·tRJiij!i*,  ftJt  it!.r!ll  f4!¥J1J:i \ :tt  7J rm “ t!1hlo •im if z!¥JBM r1J:i \ :M : All notices and other communications required to be given pursuant to this Agreement or otherwise given in connection with this Agreement shall be delivered personally, or sent by registered mail, prepaid postage, a commercial courier service, facsimile transmission or email to the address of such Party set forth below . The dates on which notices shall be deemed to have been effectively given shall be determined as follows : 15.1.1 im1;0:tio:W : AJ i ttil i !¥J , !J!L l 1£rJLl “ t!1:l:J! : t& . i i :I. T rJLl:tt!!:l:.tl:z . B ' 7'11 f z B; Notices given by personal delivery shall be deemed effectively given on the date of receipt at the address set forth below, or the date on which such notices are placed at the address set forth below 15.1.2 im1;0:tio:W: J:tJcJiij!i*, :Ii Ill , !ll ffiNttili 1¥1, !J!Ll!V - 11: r Jtl “ 1!1:l:J!: t&, ffi 45C ff f PJ@: ffi'.ilH4 z. B , 7'1 if :it B; Notices given by courier service, registered mail or prepaid postage shall be  deemed effectively given  on  the date of  receipt,  refusal  or  return for any reason at the address set forth below; 15.1.3  im1;0:tio:W:  !V.ft:Attili !¥J,  !JW !V. rAJ rJLlft:A lj  px;J}Jft  z.B 7'J  1f tis:BCJi'ZIV. † px;!¥J - ffiA7'1fil)oim :W: !V. r #ttili!¥ J , 1 1: tt# - 1Jt& ffi ffiAB tt#p x; J }J 1 £ 24 1 J" B 1 P' J *41c¥Ll * i t r!ll f4 * :i t i!@ I 1¥lffi fg   gl¥JM&r, !V.it!.r #px;J}J z.B7'11f :itBo Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission to the Fax no . set forth below (as evidenced by an automatically generated confirmation of transmission) . Notices given by email shall be deemed effectively given on the date of successful transmission, provided that the sending Party has received a system message indicating successful transmission or has not received a system message within 24 hours indicating failure of delivery or return of email . 1 s . 2 7' 1 i m 1 ; Ƒ 1¥ 1 E l 1¥1, 1J:1:tl2:1:.tl::tior: For the purpose of  notices, the addresses of the Parties are as follows: 15 Jt ftj: Strictly Confidential

    	 

    	 

    

:t;: Ai:E C #II) f4tt i0i † 'J mi A: Pledgee: Dayourenzai (Shenzhen) Technology Co., Ltd. “ fu!.tl:: :l;J I I rtH M 8 3 I R t i { H!ri1fti ' JIU I x :f t JJ l t = # J fil i fJr ti t i f * fi i:p ,t,, A.B A4209A26 Address: A4209A26  of  Tower A.B,  Xintian  Century   Business Center,  west of Shixia North 2nd Street, Shixia Community, Fubao Street,  Futian District, Shenzhen Attn: it - 1 - !II 1tf:: Email: * * LI Zanyu :l;Jilrn1¥JLUIR.!!J#i#Jm:f;: UIR$ I]li “ fu:f;:/I C 360 4 .JG 67J 1: Party B1 : !iB!.tl:: Address: Uni t 3604 of Towe r C , China Resources Lan d Building, Dachong Community , Yuehai Street , Nansha n District , Shenzhen it - 1 - m {tf:: sam.l@dhssys.com Email: 67J 2: i,M}g Party B2: XIE Jing !fu!.tl:: :l;Jilrnf¥JLU IR.!!J#i#Jm:f;:i1=Pf “ IR$ IJ1i!fu:f;:JI C 360 4 .JG Address: Unit 3604 of Tower C, China Resources  Land Building, Dachong Community, Yuehai Street, Nanshan District, Shenzhen it - 1 - !ll {tf:: charles.x@dhssys.com Email: p;j1J : :f;:if - ¥ C :l;Jil ) wL@,;f,J.t t l!0irJ Party C: Daheshou (Shenzhen) Information Technology Co., Ltd. “ fu!.tl:: #I I rnf¥ J L U I x .!!J#i#Jm:f;:i1=P U I x $ IJli!iB:f;:J I c 3604 . JG Address: Unit 3604 of Tower C, China Resources Land Building, Dachong Community, Yuehai Street, Nanshan  District, Shenzhen *IM* i&ftf:A: Attn: it - 1 - !l l {tf:: sam.l@dhssys.com Email: 1 5 .3 1 f { - 1 J i:i J :,is : i,m5:i: : 1¥ J 1 J M i lt - t j t {t h 1 t 1 J 'jj: _ ll i 3ffi . ? * ;ll   i m ? ; Ƒ l¥ J !t g !.tl: 0 c& j t i& Any Party may at any time change its address for   notices by a notice  delivered to the other Parties in accordance with the terms of this Section. 16.  ?tttltt Severability 16 WWJt11:j: Strictly Confidential

    	 

    	 

    

** W ffW - &d & ffl  ffW - d aew 1 r o o • • ' * d  e y  ff , * W tt,* ttdey ff t t  † affW1fO O dff l o  1r † Rt t  a&• . $ W ey & 1fAAffl •* - ® ' * d ey ff . w • m m *m ey - ® ' * d ff M m *ffl o In the event that one or several of the provisions of this Contract are held 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 Contract 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 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 . 17. ffl{tf: Attachments *  W M # . * W  ey * il l  $*o The attachments set forth herein shall be an integral part of this Agreement. 18. .fll{ i;& Effectiveness and Amendments 18.1  * i,5( El 1fiE z. B .1L *15J5(9} $Jl - ff16$l01!!  1J9} $ 1t16$Bt1L This Agreement shall become effective upon execution by the Parties, until the Contract Obligations have been fully performed and the Secured Indebtedness have been fully paid . 18.2  x1 *  W f t ll i fffii J 1 iT , 1 i: & 1 "ff, , 1 6 - 4f i - 1 f 001 f f1 = ll i o * i5 l f i: & 11J , i5 l lo 1 "ff , i5 l * i5 l H{ ] il l $ * t • M 1f Jl: *11J,i5ll5l• - ho Any amendment, change and supplement to this Agreement shall be made in writing by all of the Parties . Any amendment agreement and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral part of this Agreement, and shall have equal legal validity as this Agreement . 19.  i1f .fllltl* Language and Counterparts * W - filffl ffEo - . - Efil,M A,lliMA 1f - f . i • l o  * AA * AA*z . ff M - . AA* This Agreement is written in Chinese and English in five copies. Each of the  Pledgors, the Pledgee and Party C shall hold one copy respectively and the other 17 WWJt# Strictly Confidential

    	 

    	 

    

copy shall be used for registration. In  case  of  any  conflicts between  the  Chinese  version and the English Version, the Chinese version shall prevail. 2/ s Y : i J t # - J/ 1 :ff I/ , i f : 1 h £ a The Remainder of  this page is intentionally left blank 18 WX 14 Strictly Confidential

    	 

    	 

    

ޥଡиࠕ ͧ ՞ݱٛ҄ڰকҾܪ޴ࣩі਽иݧநے૩ݺޫढ़঵гޯ৐޴ઔ㝅Ԣ ੠وٴԮ࣏ݝ ͧ јމґ؋ ͨ IN WI 1NES S WHE RE OF , th e Partie s have cause d ࣒ ei r au th o rize d representatives to ex ഋ ᐍ e ࣒ is  Equity Interest Pledge Agreement as of  the date first  above written. ઔ޴ ъ E  Pledgee: ढ़ ؀ z   B y : ׷գ ͵ N am e:  ৉Ѹ ͵ Title: 㬜䛑؊ L I Z an yu ࡄؓі਽ъ Legal Representative

    	 

    	 

    

ޥଡиࠕ ͧ ՞ݱٛ҄ڰকҾܪ޴ࣩі਽иݧநے૩ݺޫढ़঵гޯ৐޴ઔ㝅Ԣ ੠мԮ࣏ݝ ͧ јމҔ؋ ͩ IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute ࣒ is Eq ⢞ ty Interest Pledge Agreement as of  the date first  above written. Ӟઔ ъ z  Pledgor: ▲ ݱ 11 㬜䛑؊ Pa rty Bl : L I Z an yu  ढ़؀ ͵ By: ▲ ݱ 2: અ杙 P a rt y Bl : XIE Jing

    	 

    	 

    

 . nB m * M  B M  •T * M i - 5U:t : e p 1:. , BI: H o IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Equity Interest Pledge Agreement as of the date first above written . ƒ pgn: :k,g -- = f (ll:IJII) ffi , - t t ll0irJ Party C:   Daheshou (Shenzhen) Information Technology Co., Ltd. Name: LI Zanyu IUHft : $f£ 1  *A Title: Legal Representative

    	 

    	 

    

llft1tf:: Attachments: 1. p;11 J 1 N * 4 s fl!h Shareholders' Register of Party C; 2. p;J 1J 1¥1 l “ tBHiE : The Capital Contribution Certificate for Party C; 3. Mt* ft11J,i5l: Exclusive Business Cooperation Agreement; 4. J * s 9!Z J ; & 111 , tJ l : Exclusive Option Agreement; 5. ;fX tt; o Power of Attorney.

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