Document:

Exhibit 10.27

 

Maximum guarantee contract

 

(for natural person guarantor)

 

No.: fj1122020114

 

Guarantor: Liu Yongxu

 

Certificate No.: ******************

 

Certificate Type: ID card

 

Address: ***************************************

 

Zip Code: 350001

 

Tel: ***********

 

Fax: ***********

 

Creditor: Bank of China Limited Fuzhou
Jin’an Sub-branch

 

Legal Representative / Person in Charge:
Chen Yan

 

Address: Fusheng Qianlong international
annex building 1F-03, No.3 middle Changle Road, Wangzhuang Street, Jin’an District, Fuzhou City 

 

Zip Code: 350011

 

Tel: ***********

 

Fax: ***********

 

In order to guarantee the performance of the debts
under the main contract mentioned in Article 1 of this contract, the guarantor is willing to provide guarantee to the creditor. This contract
is signed by both parties through equal consultation. Unless otherwise agreed in this contract, the interpretation of words in this contract
shall be determined according to the main contract.

 

Article 1 Main Contract

 

The main contract is:

 

The credit line agreement (No. fj1122020113)
signed between the creditor and the debtor Shengfeng Logistics Group Co., Ltd. and the single agreements that have been and will
be signed according to the credit line agreement, as well as its amendments or supplements.

 

     

     

    

 

Article 2 Principal Creditor’s Rights and the
Period of Occurrence

 

Unless otherwise determined or agreed in accordance
with the law, the creditor’s rights actually occur under the main contract within the following periods, as well as the creditor’s rights
already occurred between the debtor and the creditor before the contract takes effect, constitute the main creditor’s rights of the contract:

 

From the effective date of the credit line agreement
mentioned in Article 1 of this contract to the expiration date of the service life of the credit line specified in the agreement and its
amendments or supplements.

 

Article 3 Maximum Amount of Secured Claims

 

1. The maximum principal balance of the creditor’s
rights guaranteed by this contract is:

 

Currency: RMB.

 

Amount: ¥100,000,000.00.

 

2. On the expiration date defined in Article 2
of this contract, the interest (including legal interest, agreed interest, compound interest and penalty interest), liquidated damages,
damages, expenses for realizing the creditor’s right (including but not limited to litigation expenses, lawyer’s fees, notarization fees,
etc.) incurred on the principal of the principal creditor’s right shall be calculated. The specific amount of the secured claim is determined
when it is paid off.

 

The sum of the amount of creditor’s rights determined
according to the above two terms is the maximum amount of creditor’s rights guaranteed by this contract.

 

Article 4 Guarantee Types

 

The guarantee type of this contract is Item 1
as follows:

 

1. Joint liability guarantee.

 

2. General guarantee.

 

Article 5 The Occurrence of Guarantee Liability

 

If the debtor fails to pay off the debts to the
creditor on any normal repayment date or prepayment date under the main contract, the creditor has the right to require the guarantor
to bear the guarantee liability.

 

The normal repayment date mentioned in the preceding
paragraph refers to the principal repayment date, interest payment date or the date when the debtor shall pay any money to the creditor
according to the contract. The prepayment date mentioned in the preceding paragraph refers to the prepayment date proposed by the debtor
with the consent of the creditor and the date when the creditor requests the debtor to recover the principal and interest of the creditor’s
right and / or any other money in advance in accordance with the contract.

 

If the principal debt is guaranteed by other things
besides this contract, it will not affect any right of the creditor and the exercise under this contract. The creditor has the right to
determine the order of exercise of each guarantee right. The guarantor shall undertake the guarantee liability according to this contract,
and shall not defend the creditor by the existence of other guarantees and the order of exercise.

 

    2

     

    

 

Article 6 Guarantee Period

 

The guarantee period under this contract shall
be two years from the date of expiration of the main creditor’s right period specified in Article 2 of this contract.

 

During the guarantee period, the creditor has
the right to require the guarantor to undertake the guaranteed liability for all or part of the principal creditor’s rights, in forms
of multiple or single claims.

 

Article 7 Limitation of Action of the Guaranteed
Liability

 

If the principal creditor’s right is not paid
off, in the case of joint and several liability guarantee, if the creditor requires the guarantor to undertake the guaranteed liability
before the expiration of the guarantee period specified in Article 6 of this contract, the guaranteed liability shall be calculated and
the limitation of action shall be applied from the date when the creditor requires the guarantor to undertake the guarantee liability.

 

In the case of general guarantee, if the creditor
brings a lawsuit or applies for arbitration against the debtor before the expiration of the guarantee period specified in Article 6 of
this contract, the guaranteed liability shall be counted and the limitation of action shall apply from the effective date of the judgment
or arbitration award.

 

Article 8 Relationship Between this Contract
and the Main Contract

 

If the main contract includes the Credit Line
Agreement / General Agreement on Credit Business, written consent of the guarantor is required to extend the credit line term / business
cooperation term. Without the guarantor’s consent or refusal, the guarantor shall only undertake the guaranteed liability for the
principal creditor’s rights that occur during the service life of the original credit line / business cooperation period within the maximum
amount of the guaranteed creditor’s rights specified in Article 3 of this contract, and the guarantee period shall still be the original
period.

 

    3

     

    

 

For the change of other contents or matters in
the credit line agreement / general agreement on credit business, the single agreements, and the single main contract, it is not necessary
to obtain the consent of the guarantor. The guarantor shall still bear the guarantee responsibility for the changed main contract within
the maximum amount of guaranteed creditor’s rights specified in Article 3 of this contract.

 

After the creditor and the guarantor reach an
agreement through consultation, they may change the maximum amount of the secured creditor’s right stipulated in Article 3 of this contract
in writing.

 

Article 9 Declaration and Commitment

 

The guarantor represents and undertakes as follows:

 

1. The guarantor has the capacity of civil rights
required to sign and perform the contract; The guarantor has the financial ability to perform the guarantee responsibilities under the
contract;

 

2. The guarantor fully understands the contents
of the main contract, and the signing and performance of this contract is based on the guarantor’s true intention;

 

3. The execution and performance of this contract
will not violate any contract, agreement or other legal document binding on the guarantor;

 

4. All documents and information provided by the
guarantor to the creditor are accurate, true, complete and effective;

 

5. The guarantor accepts the supervision and inspection
of its financial condition by the creditor, and is willing to provide assistance and cooperation;

 

6. The guarantor has not concealed any major liabilities
from the creditor that have been undertaken as of the date of signing the contract;

 

7. If any circumstance may affect the guarantor’s
financial condition and performance capability, including but not limited to property reduction, transfer, gift, debt bearing, major disease,
etc., or involving in major litigation or arbitration cases, the guarantor shall notify the creditor in time.

 

Article 10 Authorization of Personal Credit
Information

 

Guarantor authorization: in case of the following
circumstances related to the guarantor, the creditor may request the guarantor’s personal credit report through the basic personal credit
information database of the people’s Bank of China.

 

1. To review the personal credit application of
the guarantor;

 

    4

     

    

 

2. To examine and verify the guarantor’s application
for personal guarantee;

 

3. To conduct post-loan management of personal
credit or personal guarantee under the name of guarantor;

 

4. To inquire about the credit status of the guarantor
as the legal person or as an investor;

 

At the same time, the creditor is authorized to
submit the guarantor’s personal credit information to the basic personal credit information database of the people’s Bank of China.

 

Article 11 Breach of Contract 

 

Any of the following circumstances shall constitute
or be deemed as the guarantor’s breach of this contract:

 

1. Failure to perform the guarantee responsibility
in time as agreed in this contract;

 

2. The statement made in this contract is not
true or violates the commitments made in this contract;

 

3. The events mentioned in article 9.7 of the
contract seriously affect the financial status and performance ability of the guarantor;

 

4. Violation of other provisions on the rights
and obligations of the parties in this contract;

 

5. The guarantor breaches the contract with the
creditor or other institutions of Bank of China Limited.

 

In the event of the guarantor breaching the contract
as mentioned in the preceding paragraph, the creditor has the right to take the following measures respectively or at the same time according
to the specific circumstances:

 

1. Require the guarantor to correct his or her
breach of the contract within a time limit;

 

2. Reduce, suspend or terminate the credit line
to the guarantor in whole or in part;

 

3. Suspend or terminate the business application
of the guarantor for other contracts and loans and trade financing that have not yet been granted or handled in whole or in part;

 

4. Declare all or part of the principal and interest
of the outstanding loan / trade financing funds and other accounts payable of the guarantor under other contracts due immediately;

 

5. Terminate or rescind this contract or other
contracts between the guarantor and the creditor in whole or in part;

 

6. Ask the guarantor to compensate the creditor
for the loss caused by the breach of contract;

 

7. Deduct the money balance from the account opened
by the guarantor to pay off all or part of the debts to the creditor. The unexpired amount in the account shall be regarded as early maturity.
If the account currency is different from the creditor’s business valuation currency, it shall be converted according to the foreign exchange
rate applicable to the creditor at the time of deduction;

 

8. Other measures regarded necessary by the creditor.

 

    5

     

    

 

Article 12 Rights Reserved

 

If one party fails to exercise part or all of
its rights under this contract, or fails to require the other party to perform or assume part or all of its obligations and liabilities,
it shall not constitute a waiver of such rights or an exemption from such obligations and liabilities.

 

Any tolerance, extension or delay offered from
one party to the other in exercising its rights under this contract shall not affect any rights the first party owns under this contract,
laws and regulations, nor shall it be deemed as a waiver of such rights.

 

Article 13 Change, Modification and Termination
of the Contract

 

This contract can be changed or modified in written
form by both parties through negotiation. Any change or modification shall constitute an integral part of this contract.

 

Unless otherwise stipulated by laws and regulations,
or agreed by both parties, this contract shall not be terminated until all the rights and obligations under it have been fulfilled.

 

Unless otherwise stipulated by laws and regulations
or agreed by both parties, the invalidity of any provision of this contract shall not affect the legal effect of other provisions.

 

Article 14 Application of Law and Dispute Settlement

 

This contract shall be governed by the laws of
the people’s Republic of China.

 

All disputes arising from the performance of this
contract can be settled by both parties through negotiation. If the negotiation fails, both parties agree to adopt the same dispute settlement
method as agreed in the main contract.

 

During the dispute settlement period, if the dispute
does not affect the performance of other terms of the contract, the other terms shall continue to be performed.

 

Article 15 Appendix

 

The following attachments and other attachments
confirmed by both parties constitute an integral part of this contract and have the same legal effect as this contract.

 

1. Consent letter (if any).

 

    6

     

    

 

Article 16 Other Agreements

 

1. The guarantor shall not transfer any rights
and obligations under this contract to a third party without the creditor’s written consent.

 

2. If the creditor has to entrust other institutions
of Bank of China Limited to perform the rights and obligations under this contract due to business needs, the guarantor shall recognize
it. Other institutions of Bank of China Limited authorized by the creditor have the right to exercise all rights under this contract,
and have the right to bring a lawsuit to the court or submit to the arbitration institution for adjudication on the disputes under this
contract.

 

3. Without affecting other provisions of this
contract, this contract shall be legally binding on both parties and their respective successors and transferees.

 

4. Unless otherwise agreed, both parties shall
designate the place of residence specified in this contract as the contact address, and promise to notify the other party in written form
in time in case of any changes.

 

5. The title and business name in this contract
are only used for the convenience of reference, and shall not be used for the interpretation of the terms and the rights and obligations
of the parties.

 

Article 17 Effectiveness of the Contract

 

This contract shall come into force on the date
when it is signed by the guarantor and the creditor and is stamped with the official seal.

 

This contract is made in triplicate, one for each
party and one for the debtor. All three have the same legal effect.

 

Guarantor: Liu Yongxu

 

June 22, 2020

 

Creditor: Bank of China Limited Fuzhou Jin’an
Sub-branch

 

Authorized Signature: Zhang Changkai

 

June 22, 2020

 

 

    7Exhibit 10.28

 

Shengfeng Building Lease Contract

 

Party A (Lessor): Fuzhou Tianyu Shengfeng Industrial
Co., Ltd.

 

Party B (Lessee): Shengfeng Logistics Group Co.,
Ltd.

 

In accordance with the contract law of the People’s
Republic of China and relevant laws and regulations, Party A and Party B, on the basis of equality and voluntariness, enter into this
Agreement on the lease of the house by Party A to Party B and the lease of the house by Party B in order to clarify the rights and obligations
of both parties.

 

Article 1 The subject matter and its use

 

1. Party A will lease the 2312.96
square meter commercial office building on the 4th and 6th floors of Shengfeng Building, No. 478, Fuxin East Road, Gushan Town, Jin’an
District, Fuzhou City to Party B for office use. Without the written consent of Party A, Party B shall not change the use of the house.

 

Article 2 Lease period

 

1. The rental period: from
2020/11/1 (YYYY/MM/DD) to 2022/10/31 (YYYY/MM/DD).

 

2. Lease renewal: Party A will
continue to rent under the condition that the purpose of the house remains unchanged, and Party B will have priority of the rents under
the same conditions. However, if Party B needs to renew the lease upon the expiration of the lease term, it shall notify Party A in writing
two months before the expiration of the lease term, and both parties shall re-sign the lease contract.

 

Article 3 Decoration period

 

Party A agrees to give Party
B a / month(s) decoration period. The decoration period starts from / (YYYY/MM/DD) to / (YYYY/MM/DD), and no rent
will be charged during the decoration period. However, the water, electricity, property management and other expenses incurred during
the rent-free period shall be borne by Party B.

 

     

     

    

 

Article 4 Rent, property management fees,
water and electricity fees, performance bond and payment methods.

 

4.1 Rent (tax included): from
November 1, 2020 to October 31, 2022, the monthly rent is RMB115,648. Party B shall pay the rent of the current month by transfer before
the 10th of each month.

 

4.2 Property management fee:
the property management fee shall be paid according to the standard of RMB5 / square meter / month. The total property management fee
is RMB11,564/ month. Party B shall pay the property management fee of the current month by transfer before the 10th day of each month.

 

4.3 Water and electricity fees:
Party A shall collect the water and electricity charges from Party B according to the actual usage of Party B according to the collection
sheet, and the water and electricity charges of the public part shall be apportioned and calculated according to the rental area (including
sharing) of Party B. Party B shall pay the water and electricity charges to Party A by transfer before the 10th day of each month.

 

4.4 Parking fees: if Party
B applies for monthly car card, Party A will temporarily charge the parking fee of RMB100 / month / car.

 

4.5 Performance bond: Party
B shall pay a one-time deposit of RMB231,296 to Party A on the date of signing this contract as the guarantee for Party B to perform its
obligations and responsibilities under this agreement. Upon the expiration of this contract, after both parties have settled their claims
and debts, Party A shall return the deposit without interest within 7 working days when Party B has no breach of contract.

 

Article 5 Rights and Obligations of Party
A and Party B

 

5.1 Party A’s rights and obligations.

 

5.1.1 The rent and other related
fees shall be collected in accordance with the provisions of this contract.

 

5.1.2 Party A is responsible
for providing paid water and electricity for the normal use of the leased house.

 

5.1.3 To formulate
property management regulations, to supervise and inspect Party B’s use of leased houses, to stop Party B’s use of
leased houses in breach of contract, and conduct unified management and maintenance of related objects.

 

    -2-

     

    

 

5.1.4 Does not interfere with
or obstruct Party B’s legal business activities but has the right to stop Party B’s illegal or inconsistent business activities
as stipulated in this contract.

 

5.2 Party B’s rights and obligations

 

5.2.1 Collect rent and other
related fees according to the contract.

 

5.1.2 responsible for providing
water and electricity for normal use of the leased house with compensation.

 

5.1.3 to formulate
property management regulations, to supervise and inspect Party B’s use of the leased house, to stop Party B’s breach of
contract in using the leased house, and carry out unified management and maintenance of relevant objects.

 

5.1.4 Party A shall not interfere
or obstruct Party B’s legitimate business activities, but shall have the right to stop Party B’s illegal or non-conforming business activities.

 

5.2.3 Party B must strictly
abide by the property management regulations formulated by Party A or the property management agency entrusted by Party A. Without the
written consent of Party A, Party B shall not renovate or modify the structure of the leased property without authorization.

 

5.2.4 Party B’s decoration
plan shall be designed in strict accordance with the relevant national regulations and meet the national safety construction standards.
If it needs to be approved, Party B shall submit it to the relevant departments for approval, and the expenses shall be borne by Party
B. If Party A is needed to provide information, Party A shall provide assistance, and Party B’s decoration construction blueprints
shall be submitted to Party A before decoration construction.

 

5.2.5 During the lease period,
Party B shall apply for the business license and related licenses by itself in accordance with the regulations. Party A provide necessary
assistance and materials, and the expenses shall be borne by Party B.

 

5.2.6 Party B shall be responsible
for the proper use and maintenance of the leased property and accessories, and shall promptly eliminate all possible faults and dangers,
so as to avoid all possible hidden dangers.

 

5.2.7 In case of any damage
of the leased property and its ancillary facilities due to Party B’s fault or negligence such as improper or unreasonable use, Party B
shall be liable for compensation or maintenance. If Party B refuses to repair, Party A can repair on behalf of Party B, and the cost shall
be borne by Party B.

 

5.2.8 During the lease period,
Party B must strictly abide by the relevant provisions of the “Fire Control Regulations of the People’s Republic of China” and
the “Safety Production Law of the People’s Republic of China”, timely rectify and eliminate potential safety hazards, and actively
cooperate with Party A for fire protection. In the event of a security incident during the lease period, all economic and legal responsibilities
shall be borne by Party B and have nothing to do with Party A.

 

    -3-

     

    

 

5.2.9 If Party B no longer
uses Party A’s properties, it shall not damage the renovated parts and the structure of the house.

 

5.2.10 When the lease expires
or the contract is terminated early, the movable materials added by Party B in the leased property shall be removed by Party B within
15 working days. If the lease is overdue, it shall be deemed to have been given up by Party B and belong to Party A, and Party A shall
take back the leased property; All the materials in the leased property other than the movable materials purchased by Party B shall be
owned by Party A free of charge, and Party B shall transfer them to Party A in good condition within 15 working days.

 

5.2.11 Party B has the right
to independently carry out legitimate business activities in accordance with the provisions of this contract.

 

5.2.12 During the lease term,
Party B has no right to sublet part or all of its leased property to a third party.

 

5.2.13 Party B shall complete
the cancellation or change of address procedures of all licenses, approvals or permits with the leased place as the registered address
within 30 days after the termination of this contract. If it is overdue, the lessee shall pay liquidated damages at the rate of twice
the standard daily rent of the month before the termination of the contract for each overdue day.

 

Article 6 Liability for breach of contract

 

6.1 If Party B fails to pay
rent, utilities and other expenses in full and on time, for each day overdue, Party B shall pay Party A the penalty of 5‰ of the
total amount of overdue.

 

6.2 In case of any of the following
circumstances in the process of Party B’s performance of this contract, it is a fundamental breach of contract by Party B. in addition
to the losses caused to Party A, Party A shall have the right to terminate this contract (except article 6.2.5), and the performance bond
paid by Party B shall be used as liquidated damages to Party A, which shall not be returned. Party A shall recover the lease and recover
the arrears:

 

6.2.1 Pay rent, utilities,
and other expenses more than 30 days overdue.

 

6.2.2 Conduct business activities
illegally in violation of the provisions of this contract.

 

    -4-

     

    

 

6.2.3 Violation of clause 5.2.3
of this contract to alter the structure of the leased property without authorization or to renovate the leased property without the written
consent of Party A.

 

6.2.4 Violation of clause 5.2.4
of this contract, decoration construction drawings in violation of relevant national regulations, decoration without authorization.

 

6.2.5 Cancel this contract
in advance without authorization.

 

6.2.6 Party B fails to obtain
Party A’s agreement to change the lease use and unauthorized sublease.

 

6.2.7 In the event of force
majeure or unforeseeable and objective reasons of both parties, this contract cannot be continued, the contract shall be terminated in
advance, and the parties shall settle their claims and debts and shall not bear each other’s liability for breach of contract.

 

Article 7 Supplementary Provisions

 

7.1 For matters not covered
in this contract, both parties shall negotiate amicably, and a supplementary contract may be concluded.

 

7.2 Parties to fulfill this
contract dispute shall be settled through friendly consultations. If the negotiation fails, the dispute shall be submitted to the people’s
court where Party B is domiciled for arbitration.

 

7.3 This contract becomes effective
after both parties have signed and sealed and Party B has paid the performance bond in full as agreed in this contract.

 

7.4 The annex to this contract
has the same legal effect as the contract.

 

7.5 There are two copies of
this contract, each of which is held by Party A and Party B, with the same legal effect.

 

	Annex: 1. 	“Red Line Map of Lease Objects”
	             2.	“Safety Responsibility Agreement”

 

	Party A: Fuzhou Tianyu Shengfeng Industrial Co., Ltd.	 	Party B: Shengfeng Logistics Group Co., Ltd.

 

	Representative:	 	 	Representative:	 

 

	Phone:	 	 	Phone:	 

 

	Signing Date: 2020.10.16	 	 

 

    -5-

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