Document:

Exhibit
10.5

 

English
Translation

Supplement
to the equity transfer agreement

 

This
supplementary agreement was signed by the following parties in Shenzhen, China on December 18, 2020:

 

Party
A: Qianhai Daxing Huashang (Shenzhen) Industrial Co., Ltd.

Address:
13th Floor, Block 1, Building B, Wisdom Plaza, Nanshan District, Shenzhen

Legal
representative: Lin Yumin

 

Party
B:

Party
B 1: Li Yuwen

identity
number:

Residence:

 

Party
B 2: Zuo Zhipeng

identity
number:

Residence:

The
aforementioned Party B 1 and Party B 2 are collectively referred to as “Party B”.

 

Party
C: Dongguan Xixingdao Technology Co., Ltd. (referred to as the “target company”)

Address:
Room 301, No. 88, Jiefang Road, Humen, Humen Town, Dongguan City, Guangdong Province

Legal
representative: Li Yuwen

 

Party
D: Fortune Valley Treasures, Inc.

Address:
13th Floor, Block 1, Building B, Wisdom Plaza, Nanshan District, Shenzhen

Authorized
Director: Lin Yumin

 

The
parties signed the “Equity Transfer Agreement” on December 18, 2020. In order to further protect the legitimate
rights and interests of all parties to successfully realize the purpose of the “Equity Transfer Agreement”, all parties
concerned about the issue of shares stipulated in the “Equity Transfer Agreement” , Reached the following supplementary
agreement:

 

    	 

    	 

    

 

Article
1 Issuance of stocks

 

1.
The parties agree that within 30 working days after the completion of the settlement of this transaction, Party D will
issue to Party B or its designated related parties an amount of stock corresponding to the transaction consideration. The parties
agree that on the basis of the cumulative net profit of RMB 4 million committed from January 1, 2020 to December 31, 2020, D will
issue shares to Party B or its designated related parties. The specific calculation standards for the amount of shares issued
are as follows :

 

Amount of shares issued (rounded) = RMB 4
million × 15 times ÷ the average of the sum of the closing prices of the stocks in the 30 working days before the
date of stock issuance ÷ he mid-price calculation of US dollar against RMB. The exchange rate is calculated
based on the central parity/intermediate rate of USD against RMB announced on its official website by the State
Administration of Foreign Exchange on the day of stock issuance.)

 

2.
The parties agree that the issuance of stocks shall be carried out in accordance with the above agreed standards, and Party D
shall sign relevant issuance agreements with Party B or its designated related parties. Party D shall issue the shares in proportion
to Party B’s equity in the target company.

 

3.
After Party D issues stocks in accordance with the provisions of this supplementary agreement, the stocks will be kept in the
custody account. If the target company completes the performance commitment target stipulated in Article 2.5.2 (2) of the Equity
Transfer Agreement, Party D shall release the above-mentioned escrow account within 30 days from the date when the performance
commitment target is completed and audited and confirmed by the accounting firm. If the target company fails to complete
the performance commitment target stipulated in the “Equity Transfer Agreement,” Party D shall have the right to recover
the stocks valued corresponding to the unfulfilled performance part free of charge. The specific calculation standard for the
recovered shares is: the amount of recovered shares = the amount of issued shares × (1-the actual amount of performance
completed / RMB 4 million).

 

Article
2 Exemption for performance growth targets

 

With
regard to Party B’s performance commitment target that the target company’s net profit in each fiscal year from fiscal
year 2022 to fiscal year 2025 should increase by no less than 10% over the annual net profit achieved in the previous fiscal year,
all parties agreed to be exempted .

 

Article
3 Other

 

1.
This supplementary agreement will take effect on the day when it is signed by the authorized representatives of Party A, Party
C, and Party D and affixed with the official seal and signed by Party B.

 

2.
After this supplementary agreement becomes effective, it will become an integral part of the “Equity Transfer Agreement”
and has the same legal effect as the “Equity Transfer Agreement”. Except for the clauses expressly modified in this
agreement, the rest of the “Equity Transfer Agreement” shall remain fully valid. If there is any inconsistency between
this agreement and the “Equity Transfer Agreement”, this supplementary agreement shall prevail, and if not mentioned
in this supplementary agreement, the “Equity Transfer Agreement” shall prevail.

 

    	 

    	 

    

 

3.
This supplementary agreement is written in Chinese in five copies, and each party holds one copy, which has the same legal effect.

 

(The
following has no text, it is a signed page)

 

(The
following has no text, it is the signing page of “Supplementary Agreement to Equity Transfer Agreement”)

 

Party
A: Qianhai Daxing Huashang (Shenzhen) Industrial Co., Ltd. (seal)

 

Signature
of legal representative or its authorized representative:

 

Party
B (signature):

 

Party
B (signature):

 

Party
C: Dongguan Xixingdao Technology Co., Ltd. (seal)

 

Signature
of legal representative or its authorized representative:

 

Party D: Fortune Valley Treasures,
Inc. (seal)

 

Signature
of authorized director:

 

Date
of Signing: December 18, 2020Exhibit
10.6

 

English
Translation

Supplement
to the Equity Transfer Agreement

 

This
agreement was signed in Hong Kong by the following parties on the day of 2021:

 

Party
A: Daxing Huashang (Hong Kong) Investment Co., Ltd.

Authorized
Director: Lin Yumin

 

Party
B: ANGEL INTERNATIONAL INVESTMENT HOLDINGS LIMITED

Authorized
Director: Kin Lam

 

Party
C: Valley Holdings Limited (referred to as the “Target Company”)

Authorized
Director: Kin Lam

 

Party
D: FORTUNE VALLEY TREASURES, INC.

Authorized
Director: Lin Yumin

 

Given:

 

1.
Party A is a company registered and validly existing in Hong Kong and a wholly-owned subsidiary of Party D.

 

2.
The Target Company is a commercial company incorporated in Hong Kong. As of the signing date of this agreement, the registered
capital of the Target Company is HK$1,000,000. Valley Foods Holdings (Guangzhou) Co. Ltd. is a joint stock limited company incorporated
in China, mainly engaged in food wholesale, additives, and other businesses. The Target Company holds 88.4367% of its equity.
Valley Foods Holdings (Guangzhou) Co. Ltd. and its subsidiaries Guangzhou Asia-Pacific Food Technology Co., Ltd., Guangzhou Tianhui
Trading Co., Ltd., and Guangzhou Zhongshitian Internet of Things Service Co., Ltd. are collectively referred to as the “subsidiaries”
of the Target Company. (Please refer to the companies’ names in the Chinese version of the agreement).

 

3.
As of the signing date of this agreement, Party B is the original shareholder holding 70% of the shares of the Target Company;
the shareholder holding the remaining 30% of the shares of the Target Company is Xinyi Holdings Global Limited.

 

4.
Parties A, B, C, and D signed the “Equity Transfer Agreement” on January 6, 2020, and Party B agreed to transfer 70%
of the shares of the Target Company it held to Party A in accordance with the terms of this agreement. Party A agreed to acquire
such shares in accordance with the provisions of this agreement, including the delivery of Party C’s shares to Party B as
consideration for the transfer of the equity of the Target Company.

 

    	 

    	 

    

 

In
accordance with relevant laws and regulations, parties A, B, C, and D have reached the following supplementary agreement on the
transfer of 70% of the shares of the Target Company held by Party B to Party A through friendly negotiation and the principle
of equality and mutual benefits:

 

1.
The Target Company and Party B promise that the net profit of the target company and its subsidiaries in the 2020 annual audited
consolidated statement shall not be less than HK$3 million.

 

On
the basis of the above-mentioned commitment to the net profit of the consolidated statement, the parties agreed to calculate the
valuation of the Target Company’s 70% equity at 12 million U.S. dollars. If the Target Company and its subsidiaries’
audited consolidated statement net profit for 2020 is more than HK$5 million, the parties agree to calculate the valuation of
the Target Company’s 70% equity at US$14 million. If it is less than HK$3 million, the parties will sign a supplementary
agreement regarding the consideration of the transaction.

 

2.
Looking at the operations as of December 31, 2020, Valley Holdings’ net profit in the consolidated statement for the year
of 2020 will show a loss, and the parties will sign a supplementary agreement on the consideration of the transaction.

 

3.
In view of the above situation, after friendly negotiation and discussion of, all parties agreed that the total valuation of Valley
Holdings was set at 15 million U.S. dollars, that is, the parties agreed to calculate the valuation of the target company’s
70% equity at 10.5 million U.S. dollars.

 

4.
Other. Matters not mention in this agreement shall be implemented in accordance with the “Equity Transfer Agreement”
signed by A, B, C, and D; matters of which the provisions in this agreement are inconsistent with those in the “Equity Transfer
Agreement”, shall be implemented in accordance with the provisions of this agreement; Matters not discussed either in this
agreement or the “Equity Transfer Agreement” shall be negotiated and determined by the parties to the agreement in
accordance with the principle of friendly negotiation.

 

(The
following has no text, it is a signed page)

 

    	 

    	 

    

 

(This
page has no text, it is the signing page of “Supplementary Agreement to Equity Transfer Agreement”)

  

Party
A: Daxing Huashang (Hong Kong) Investment Co., Ltd.

Signature
of authorized director:

 

Party
B: ANGEL INTERNATIONAL INVESTMENT HOLDINGS LIMITED

Signature
of authorized director:

 

Party
C: Benefit Group Co., Ltd.

Signature
of authorized director:

 

Party
D: FORTUNE VALLEY TREASURES, INC.

Signature
of authorized director:

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