Document:

Exhibit 10.7

 

Confidential

 

CALL OPTION AGREEMENT

 

AMONG

 

RONGHUA LIU

 

QIANG CHEN

 

QIANHAI ASIA TIMES (SHENZHEN) INTERNATIONAL
FINANCIAL

SERVICES CO., LTD.

 

HUAYA CONSULTANT (SHENZHEN) CO., LTD.

 

9lh October, 2018

 

     

     

    

 

CALL OPTION AGREEMENT

 

This CALL OPTION AGREEMENT (this “AGREEMENT”)
is entered into in Shenzhen of the People’s Republic of China (“China” or the “PRC”) as of 9th
October, 2018 by and among the following Parties:

 

(1) Ronghua Liu

ADDRESS: No.16, 12 Team, Datang Village, Dali
Town, Beiliu, Guangxi Province, China

ID Number: 450681199012101418

 

(2) Qiang Chen

ADDRESS: Room 601, Unit 1, Building 9, Chengshi Shangu, Nanshan
District, Shenzhen City, Guangdong Province, China

ID Number:320503197010060537

 

(3) Qianhai Asia Times (Shenzhen) International
Financial Services Co., Ltd. (“ASIATIMES”)

 

REGISTERED ADDRESS: Room 3902A, Building 5,
Dachong International Center, No.39 Tong Gu Road, Yuehai Street, Nanshan district, Shen Zhen, China

 

(4) HUAYA CONSULTANT (SHENZHEN) CO., LTD. (“HUAYA”)

 

REGISTERED ADDRESS: Room 3902, Building 5,
Dachong International Center, No.39 Tong Gu Road, Yuehai Street, Nanshan district, Shen Zhen, China

 

( Ronghua Liu, Qiang Chen hereinafter shall
be individually referred to as a “PERSONAL SHAREHOLDER” and collectively, the “PERSONAL SHAREHOLDERS”.
The Personal Shareholders and ASIA TIMES hereinafter individually referred to as a “SHAREHOLDER” and collectively,
the “SHAREHOLDERS”. The Shareholders, HUAYA and the companies which was holding by ASIA TIMES hereinafter shall be
individually referred to as a “PARTY” and collectively referred to as the “PARTIES”.)

 

WHEREAS

 

(l) As of the date of this Agreement, Ronghua
Liu and Qiang Chen are the enrolled shareholders of ASIA TIMES, legally holding all the equity in ASIA TIMES, of which Ronghua
Liu holding 98.5% interest, Qiang Chen holding 1.5% interest.

 

     

     

    

 

(2) The Shareholders intend to transfer to HUAYA, and
HUAYA is willing to accept, all their respective equity interest in the Target Companies (as defined below), to the
extent not violating PRC Law.

 

(3) In order to conduct the above equity transfer,
the Shareholders agree to jointly grant HUAYA an irrevocable call option for equity transfer (hereinafter the “CALL
OPTION”), under which and to the extent permitted by PRC Law, the Shareholders shall on demand of HUAYA transfer
the Option Equity (as defined below) to HUAYA and/or any other entity or individual designated by it in accordance
with the provisions contained herein.

 

(4)ASIA TIMES intends to transfer
to HUAYA all of its assets and liabilities to the extent not violating PRC Law. In order to conduct the above asset
transfer, ASIA TIMES agrees to grant HUAYA an irrevocable call option for assets (hereinafter the “ASSET
CALL OPTION”), under which and to the extent as permitted by PRC Law, ASIA TIMES shall on demand of HUAYA
transfer the assets and liabilities to HUAYA and/or any other entity or individual designated by it in accordance
with the provisions contained herein.

 

THEREFORE, the Parties hereby have reached
the following agreement upon mutual consultations:

 

ARTICLE 1 - DEFINITION

 

1.1 Except as otherwise construed in the context,
the following terms in this Agreement shall be interpreted to have the following meanings:

 

“PRC LAW” shall mean the then valid
laws, administrative regulations, administrative rules, local regulations, judicial interpretations and other binding regulatory
documents of the People’s Republic of China.

 

“OPTION EQUITY” shall mean, in
respect of each of the Shareholders, all of the equity interest held thereby in the Target Company Registered Capital (as defined
below).

 

“TARGET COMPANY” shall mean, to
PERSONAL SHAREHOULDERS, ASIA TIMES; and to ASIA TIMES, any and all of the companies which was held by it (exclusive
of Qianhai ASIA TIMES (Shenzhen) International Fund Management Company (“Fund Company”)).

 

“TARGET COMPANY REGISTERED CAPITAL”
shall mean the registered capital of ASIA TIMES as of the execution date of this Agreement, i.e., RMB50, 000,000,
and the registered capital of each Target Company which was holding by ASIA TIMES, which shall include any expanded registered
capital as the result of any capital increase within the term of this Agreement.

 

     

     

    

 

“TRANSFERRED EQUITY” shall mean
the equity of Target Company which HUAYA has the right to require the Shareholders to transfer to it or its designated
entity or individual when HUAYA exercises its Call Option (hereinafter the “EXERCISE OF OPTION”) in
accordance with Article 3.2 herein, the amount of which may be all or part of the Option Equity and the details of which shall
be determined by HUAYA at its sole discretion in accordance with the then valid PRC Law and from its commercial
consideration.

 

“TRANSFER PRICE” shall mean all
the consideration that HUAYA or its designated entity or individual is required to pay to the Shareholders in order
to obtain the Transferred Equity upon each Exercise of Option. In spite of any provision herein, in case of HUAYA exercising
the call option in its sole discretion upon the occurrence of the situation in which such call option exercise become feasible
under the relevant laws in PRC, any additional consideration paid other than the $1.00 which may be required under the laws of
China to effect such purchase to comply with such legal formalities shall be either cancelled or returned to the company immediately
with no additional compensation to the owners. The shareholders hereby acknowledge the purpose of such provisions and hereby agrees
and authorizes the company to take any and all actions to effect such transaction and agrees irrevocably to execute any and all
documents and instruments and authorize HUAYA and its designated entity or individual to sign on his or her behalf
and hereby gives the HUAYA and its designated entity or individual a proxy to execute and deliver such documents
and instruments to effect the purpose of this provision and hereby waives any defense or claim of causes of action to challenge
or defeat this provision.If there exists any regulatory provision with respect to Transfer Price under the then PRC Law, HUAYA
or its designated entity or individual shall be entitled to determine the lowest price permitted by PRC Law as the Transfer
Price.

 

“BUSINESS PERMITS” shall mean any
approvals, permits, filings, registrations etc. which ASIA TIMES is required to have for legally and validly operating
its commercial consulting business and all such other businesses, including but not limited to the Business License of the Cooperate
Legal Person, the Tax Registration Certificate, the Permit for commercial consulting business and such other relevant licenses
and permits as required by the then PRC Law.

 

“TARGET COMPANY ASSETS” shall mean,
in respect of any Target Company, all the tangible and intangible assets which such Target Company owns or has the right to use
during the term of this Agreement, including but not limited to any immoveable and moveable assets, and such intellectual property
rights as trademarks, copyrights, patents, proprietary know-how, domain names and software use rights.

 

“THE EXCLUSIVE SERVICE AGREEMENT”
shall mean the Exclusive Service Agreement entered into among each Target Company and HUAYA dated 9th October,
2018.

 

     

     

    

 

“MATERIAL AGREEMENT” shall mean
an agreement to which any Target Company is a party and which has a material impact on the businesses or assets of the Target Company,
including but not limited to the Exclusive Service Agreement among the Target Company and HUAYA, and other agreements
regarding the Target Company’s commercial consulting business.

 

1.2 The references to any PRC Law herein shall be deemed

 

(1) to include the references to the amendments,
changes, supplements and reenactments of such law, irrespective of whether they take effect before or after the formation of this
Agreement; and

 

(2) to include the references to other decisions,
notices or regulations enacted in accordance therewith or effective as a result thereof.

 

1.3 Except as otherwise stated in the context herein, all references
to an Article, clause, item or paragraph shall refer to the relevant part of this Agreement.

 

ARTICLE 2 -GRANT OF CALL OPTION

 

The Parties agree that the Shareholders exclusively
grant HUAYA hereby irrevocably and without any additional conditions with a Call Option, under which HUAYA
shall have the right to require the Shareholders to transfer the Option Equity to HUAYA or its designated entity
or individual in such method as set out herein and as permitted by PRC Law. HUAYA also agrees to accept such Call
Option.

 

In case of HUAYA exercising the
call option in its sole discretion upon the occurrence of the situation in which such call option exercise become feasible under
the relevant laws in PRC, any additional consideration paid other than the $1.00 which may be required under the laws of China
to effect such purchase to comply with such legal formalities shall be either cancelled or returned to the company immediately
with no additional compensation to the ASIA TIMES and Shareholders. ASIA TIMES and Shareholders hereby
acknowledge the purpose of such provisions and hereby agrees and authorizes the company to take any and all actions to effect such
transaction and agrees irrevocably to execute any and all documents and instruments and authorize the company’s relevant
officers to sign on his or her behalf and hereby gives the company and any of its relevant officers a proxy to execute and deliver
such documents and instruments to effect the purpose of this provision and hereby waives any defense or claim of causes of action
to challenge or defeat this provision.

 

     

     

    

 

ARTICLE 3 - METHOD OF EXERCISE OF OPTION

 

3.1 To the extent permitted by PRC Law, HUAYA
shall have the sole discretion to determine the specific time, method and times of its Exercise of Option.

 

3.2 If the then PRC Law permits HUAYA
and/or other entity or individual designated by it to hold all the equity interest of Target Company, then HUAYA
shall have the right to elect to exercise all of its Call Option at once, where HUAYA and/or other entity or individual
designated by it shall accept all the Option Equity from the Shareholders at once;

if the then PRC Law permits HUAYA
and/or other entity or individual designated by it to hold only part of the equity in Target Company, HUAYA shall
have the right to determine the amount of the Transferred Equity within the extent not exceeding the upper limit of shareholding
ratio set out by the then PRC Law (hereinafter the “SHAREHOLDING LIMIT”), where HUAYA and/or other entity
or individual designated by it shall accept such amount of the Transferred Equity from the Shareholders. In the latter case, HUAYA
shall have the right to exercise its Call Option at multiple times in line with the gradual deregulation of PRC Law on the permitted
Shareholding Limit, with a view to ultimately acquiring all the Option Equity.

 

3.3 At each Exercise of Option by HUAYA,
each of the Shareholders shall transfer their respective equity in the Target Company to HUAYA and/or other entity
or individual designated by it respectively in accordance with the amount required in the Exercise Notice stipulated in Article
3.5. HUAYA and other entity or individual designated by it shall pay the Transfer Price to each of the Shareholders
who has transferred the Transferred Equity for the Transferred Equity accepted in each Exercise of Option. HUAYA
shall have the right to elect to pay the purchase price by settlement of certain credits held by it or its affiliates to the shareholders.

 

3.4 In each Exercise of Option, HUAYA
may accept the Transferred Equity by itself or designate any third party to accept all or part of the Transferred Equity.

 

3.5 On deciding each Exercise of Option, HUAYA
shall issue to the Shareholders a notice for exercising the Call Option (hereinafter the “EXERCISE NOTICE”, the form
of which is set out as Appendix I hereto). The Shareholders shall, upon receipt of the Exercise Notice, forthwith transfer all
the Transferred Equity in accordance with the Exercise Notice to HUAYA and/or other entity or individual designated
by HUAYA in such method as described in Article 3.3 herein.

 

3.6 The Shareholders hereby severally undertake
and guarantee that once HUAYA issues the Exercise Notice in respect to the specific Transferred Equity of the
Target Company held by it:

 

     

     

    

 

(l) it shall immediately hold or request to
hold a shareholders’ meeting of the Target Company and adopt a resolution through the shareholders’ meeting, and take
all other necessary actions to agree to the transfer of all the Call Option to HUAYA and/or other entity or individual
designated by it at the Transfer Price and waive the possible preemption;

 

(2)it shall immediately enter into an equity
transfer agreement with HUAYA and/or other entity or individual designated by it for transfer of all the Transferred
Equity to HUAYA and/or other entity or individual designated by it at the Transfer Price; and

 

(3) it shall provide HUAYA with
necessary support (including providing and executing all the relevant legal documents, processing all the procedures for government
approvals and registrations and bearing all the relevant obligations) in accordance with the requirements of HUAYA
and of the laws and regulations, in order that HUAYA and/or other entity or individual designated by it may take
all the Transferred Equity free from any legal defect.

 

3.7 At the meantime of this Agreement, the
Shareholders shall respectively enter into a power of attorney (hereinafter the “POWER OF ATTORNEY”, the form of which
is set out as Appendix II hereto), authorizing in writing any person designated by HUAYA to, on behalf of such Shareholder,
to enter into any and all of the legal documents in accordance with this Agreement so as to ensure that HUAYA and/or
other entity or individual designated by it take all the Transferred Equity free from any legal defect. Such Power of Attorney
shall be delivered for custody by HUAYA and HUAYA may, at any time if necessary, require the Shareholders
to enter into multiple copies of the Power of Attorney respectively and deliver the same to the relevant government department.

 

ARTICLE 4 - ASSET CALL OPTION

 

ASIA TIMES and the Personal
Shareholders hereby further undertake to grant HUAYA irrevocably an option to purchase assets within the term
of this Agreement: to the extent not violating the mandatory requirements under PRC Law, ASIA TIMES will transfer
all of its assets and liabilities to HUAYA and/or other entity or individual designated by it when required by HUAYA.

 

In case of the HUAYA exercising
the Asset Call Option in its sole discretion upon the occurrence of the situation in which such call option exercise become feasible
under the relevant laws in PRC, any additional consideration paid other than the $1.00 which may be required under the laws of
China to effect such purchase to comply with such legal formalities shall be either cancelled or returned to the company immediately
with no additional compensation to the ASIA TIMES and Shareholders. ASIA TIMES and Shareholders hereby
acknowledge the purpose of such provisions and hereby agrees and authorizes the company to take any and all actions to effect such
transaction and agrees irrevocably to execute any and all documents and instruments and authorize the company’s relevant
officers to sign on his or her behalf and hereby gives the company and any of its relevant officers a proxy to execute and deliver
such documents and instruments to effect the purpose of this provision and hereby waives any defense or claim of causes of action
to challenge or defeat this provision.

 

     

     

    

 

ARTICLE 5 - REPRESENTATIONS AND WARRANTIES

 

5.1 Each of the Shareholders hereby severally
represents and warrants in respect to itself and the Target Company in which he holds equity as follows:

 

5.1.1 Each of the Personal Shareholders is
a PRC citizen with full capacity, with full and independent legal status and legal capacity to execute, deliver and perform this
Agreement, and may act independently as a litigant party. Each of the Personal Shareholders has full power and authorization to
execute and deliver this Agreement and all the other documents to be entered into by it in relation to the transaction referred
to herein, and it has the full power and authorization to complete the transaction referred to herein.

 

5.1.2 This Agreement is executed and delivered
by Personal Shareholders legally and properly. This Agreement constitutes the legal and binding obligations on Personal Shareholders
and is enforceable on it in accordance with its terms and conditions. The Personal Shareholders are the enrolled legal owner of
the Option Equity as of the effective date of this Agreement, and except the rights created by this Agreement, the Shareholders’
Voting Rights Proxy Agreement entered into by Personal Shareholders, HUAYA and their respective Target Company dated
9th October, 2018 (the “PROXY AGREEMENT”), the Equity Pledge Agreement entered into by it,
HUAYA, the Target Company dated 9th October, 2018 (the “EQUITY PLEDGE AGREEMENT”),
there is no lien, pledge, claim and other encumbrances and third party rights on the Option Equity. In accordance with this Agreement,
HUAYA and/or other entity or individual designated by it may, after the Exercise of Option, obtain the proper title
to the Transferred Equity free from any lien, pledge, claim and other encumbrances and third party rights.

 

5.1.3 Target Company shall obtain complete
Business Permits as necessary for its operations upon this Agreement taking effect, and Target Company shall have sufficient rights
and qualifications to operate within PRC the businesses of commercial consulting and other business relating to its current business
structure. Target Company has conducted its business legally since its establishment and has not incurred any cases which violate
or may violate the regulations and requirements set forth by the departments of commerce and industry, tax, culture, news, quality
technology supervision, labor and social security and other governmental departments or any disputes in respect of breach of contract.

 

     

     

    

 

5.2 ASIA TIMES hereby represents
and warrants in respect to itself and the Target Company in which it holds equity as follows:

 

5.2.1 ASIA TIMES is a limited
liability company operation duly registered and validly existing under PRC Law, with independent status as a legal person; ASIA
TIMES has full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may
act independently as a subject of actions.

 

5.2.2 ASIA TIMES has full power
and authorization to execute and deliver this Agreement and all the other documents to be entered into by it in relation to the
transaction referred to herein, and it has the full power and authorization to complete the transaction referred to herein.

 

5.2.3 This Agreement is executed and delivered
by ASIA TIMES legally and properly. This Agreement constitutes legal and binding obligations on it.

 

5.2.4 ASIA TIMES is the enrolled
legal shareholder of the Option Equity when this Agreement comes into effect, except the rights created by this Agreement, the
Proxy Agreement, the Equity Pledge Agreement, there is no lien, pledge, claim and other encumbrances and third party rights on
the Option Equity. In accordance with this Agreement, HUAYA and/or other entity or individual designated by it may,
upon the Exercise of Option, obtain the proper title to the Transferred Equity free from any lien, pledge, claim and other encumbrances
and third party rights.

 

5.2.5 Target Company shall obtain complete
Business Permits as necessary for its operations upon this Agreement taking effect, and Target Company shall have sufficient rights
and qualifications to operate within PRC the businesses of commercial consulting and other business relating to its current business
structure. Target Company has conducted its business legally since its establishment and has not incurred any cases which violate
or may violate the regulations and requirements set forth by the departments of commerce and industry, tax, culture, quality technology
supervision, labor and social security and other governmental departments or any disputes in respect of breach of contract.

 

The remaining shareholders of the Target Companies
in which ASIA TIMES holds equity have given written approvals regarding the content of this Agreement and have irrevocably undertaken,
upon the Exercise of Option by ASIA TIMES of Option Equity in accordance with this Agreement, to respectively waive
possible rights of preemption and offer necessary assistance.

 

5.3 HUAYA hereby represents and warrants as follows:

 

5.3.1 HUAYA is a company with
limited liability properly registered and legally existing under PRC Law, with an independent status as a legal person. HUAYA
has full and independent legal status and legal capacity to execute, deliver and perform this Agreement and may act independently
as a subject of actions.

 

     

     

    

 

5.3.2 HUAYA has full power and
authorization to execute and deliver this Agreement and all the other documents to be entered into by it in relation to the transaction
referred to herein, and it has the full power and authorization to complete the transaction referred to herein.

 

ARTICLE 6 - UNDERTAKINGS BY THE SHAREHOLDERS

 

6.1 The Shareholders hereby individually undertake
within the term of this Agreement that it must take all necessary measures to ensure that Target Company is able to obtain all
the Business Permits necessary for its business in a timely manner and all the Business Permits remain in effect at any time.

 

6.2 The Shareholders hereby individually undertake
within the term of this Agreement that without the prior written consent by HUAYA,

 

6.2.1 no Shareholders shall transfer or otherwise
dispose of any Option Equity or create any encumbrance or other third party rights on any Option Equity;

 

6.2.2 it shall not increase or decrease the
Target Company Registered Capital or cast affirmative vote regarding the aforesaid increase or decrease in registered capital;

 

6.2.3 it shall not dispose of or cause the
management of Target Company to dispose of any of the Target Company Assets (except as occurs during the arm’s length operations);

 

6.2.4 it shall not terminate or cause the management
of Target Company to terminate any Material Agreements entered into by Target Company, or enter into any other Material Agreements
in conflict with the existing Material Agreements;

 

6.2.5 it shall not individually or collectively
cause each Target Company to conduct any transactions that may substantively affect the asset, liability, business operation, equity
structure, equity of a third party and other legal rights (except those occurring during the arm’s length operations or daily
operation, or having been disclosed to and approved by HUAYA in writing);

 

6.2.6 it shall not appoint or cancel or replace
any executive directors or members of board of directors (if any), supervisors or any other management personnel of Target Company
to be appointed or dismissed by the Shareholders;

 

6.2.7 it shall not announce the distribution
of or in practice release any distributable profit, dividend or share profit or cast affirmative votes regarding the aforesaid
distribution or release;

 

     

     

    

 

6.2.8 it shall ensure that Target Company shall
validly exist and prevent it from being terminated, liquidated or dissolved;

 

6.2.9 it shall not amend the Articles of Association
of Target Company or cast affirmative votes regarding such amendment;

 

6.2.10 it shall ensure that Target Company
shall not lend or borrow any money, or provide guarantee or engage in security activities in any other forms, or bear any substantial
obligations other than on the arm’s length basis; and

 

6.3 The Shareholders hereby individually undertake
that it must make all its efforts during the term of this Agreement to develop the business of Target Company, and ensure that
the operations of Target Company are legal and in compliance with the regulations and that it shall not engage in any actions or
omissions which might harm the Target Company Assets or its credit standing or affect the validity of the Business Permits of Target
Company.

 

6.4 Without limiting the generality of Article
6.3 above, considering the fact that each Shareholder of each Target Company sets aside all the equity interest held thereby in
each Target Company as security to secure the performance by each Target Company of the obligations under the Exclusive Service
Agreement, the performance of such Shareholder of the obligations under the Proxy Agreement, the Shareholder undertakes to, within
the term of this Agreement, make full and due performance of any and all of the obligations on the part thereof under the Proxy
Agreement, and to procure the full and due performance of each Target Company of any and all of its obligations under the Exclusive
Service Agreement and warrants that no adverse impact on exercising the rights under this Agreement by HUAYA will
be incurred due to the breach by the Shareholder of the Proxy Agreement or the breach of the Target Company of the Exclusive Service
Agreement.

 

6.5 ASIA TIMES undertakes that,
before HUAYA Exercise of Option and acquire all equity of ASIA TIMES, ASIA TIMES shall not do the following:

 

6.5.1 Sell, transfer, mortgage or dispose by
other way any assets, business, revenue or other legal rights of its own or any Target Company, or permit creating any encumbrance
or other third party’s interest on such assets, business, revenue or other legal rights (except as occurs during the arm’s
length or operations or daily operation, or as is disclosed to HUAYA and approved by HUAYA in writing);

 

6.5.2 conduct any transactions that may substantively
affect the asset, liability, business operation, equity structure, equity of a third party and other legal rights (except those
occurring during the arm’s length operations or daily operation, or having been disclosed to HUAYA and approved
by HUAYA in writing);

 

     

     

    

 

6.5.3 release any dividend or share profit
to the Personal Shareholders or cause the Target Company to do so in any form.

 

ARTICLE 7 - CONFIDENTIALITY

 

7.1 Notwithstanding the termination of this
Agreement, the Shareholders shall be obligated to keep in confidence the following information (hereinafter collectively the “CONFIDENTIAL
INFORMATION”): (i) information on the execution, performance and the contents of this Agreement; (ii) the commercial secret,
proprietary information and customer information in relation to HUAYA known to or received by it as the result of
execution and performance of this Agreement; and (iii) the commercial secrets, proprietary information and customer information
in relation to Target Company known to or received by it as the shareholder of Target Company. The Shareholders may use such Confidential
Information only for the purpose of performing its obligations under this Agreement. No Shareholders shall disclose the above Confidential
Information to any third parties without the written consent from HUAYA, or they shall bear the default liability
and indemnify the losses.

 

7.2 Upon termination of this Agreement, both
Shareholders shall, upon demand by HUAYA, return, destroy or otherwise dispose of all the documents, materials or
software containing the Confidential Information and suspend using such Confidential Information.

 

7.3 Notwithstanding any other provisions herein,
the validity of this Article shall not be affected by the suspension or termination of this Agreement.

 

ARTICLE 8 - TERM OF AGREEMENT

 

8.1 This Agreement shall take effect as of
the date of formal execution by the Parties. For each Shareholder, this Agreement shall terminate in respect to such Shareholder
when all the Option Equity of all the Target Company held by him is legally transferred under the name of HUAYA and/or
other entity or individual designated by it in accordance with the provisions of this Agreement.

 

8.2 After termination of this Agreement in
respect to such Shareholder according to Article 8.1 above, this Agreement continues to be fully valid in respect to other Shareholders.

 

ARTICLE 9 - NOTICE

 

9.1 Any notice, request, demand and other correspondences
made as required by or in accordance with this Agreement shall be made in writing and delivered to the relevant Party.

 

     

     

    

 

9.2 The abovementioned notice or other correspondences
shall be deemed to have been delivered when it is transmitted if transmitted by facsimile or telex; it shall be deemed to have
been delivered when it is delivered if delivered in person; it shall be deemed to have been delivered five (5) days after posting
the same if posted by mail.

 

ARTICLE 10 - LIABILITY FOR BREACH OF CONTRACT

 

10.1 The Parties agree and confirm that, if
any party (hereinafter the “DEFAULTING PARTY”) breaches substantially any of the provisions herein or omits substantially
to perform any of the obligations hereunder, or fails substantially to perform any of the obligations under this Agreement, such
a breach or omission shall constitute a default under this Agreement (hereinafter a “DEFAULT”), then non-defaulting
Party shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable
period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within
ten (10) days of non-defaulting Party’s notifying the Defaulting Party in writing and requiring it to rectify the Default,
then non-defaulting Party shall have the right at its own discretion to select any of the following remedial measures:

(1) to terminate this Agreement and require
the Defaulting Party to indemnify it for all the damage; or

(2) mandatory performance of the obligations
of the Defaulting Party hereunder and require the Defaulting Party to indemnify it for all the damage.

 

10.2 Without limiting the generality of Article
10.1, any breach of the Proxy Agreement, the Equity Pledge Agreement shall be deemed as having constituted the breach by such Shareholder
of this Agreement; and any breach by Target Company of any provision in the Exclusive Service Agreement, if attributable to the
failure of any Shareholder to perform the obligations thereof under Article 6.4 hereof, shall be deemed as having constituted the
breach by such Shareholder of this Agreement.

 

10.3 The Parties agree and confirm that in
no circumstances shall the Shareholders request the termination of this Agreement for any reason, except otherwise stipulated by
law or this Agreement.

 

10.4 Notwithstanding any other provisions herein,
the validity of this Article shall stand disregarding the suspension or termination of this Agreement.

 

ARTICLE 11 - MISCELLANEOUS

 

11.1 This Agreement shall be prepared in the
Chinese language in four (4) original copies, with each involved Party holding one (1) copy hereof.

 

     

     

    

 

11.2 The formation, validity, execution, amendment,
interpretation and termination of this Agreement shall be subject to PRC Law.

 

11.3 Any disputes arising hereunder and in
connection herewith shall be settled through consultations among the Parties, and if the Parties cannot reach an agreement regarding
such disputes within thirty (30) days of their occurrence, such disputes shall be submitted to Shenzhen Court of International
Arbitration in accordance with the arbitration rules of such Commission in Shenzhen, and the arbitration award shall be final and
binding on all Parties.

 

11.4 Any rights, powers and remedies empowered
to any Party by any provisions herein shall not preclude any other rights, powers and remedies enjoyed by such Party in accordance
with laws and other provisions under this Agreement, and the exercise of its rights, powers and remedies by a Party shall not preclude
its exercise of its other rights, powers and remedies by such Party.

 

11.5 Any failure or delay by a Party in exercising
any of its rights, powers and remedies hereunder or in accordance with laws (hereinafter the “PARTY’S RIGHTS”)
shall not lead to a waiver of such rights, and the waiver of any single or partial exercise of the Party’s Rights shall not
preclude such Party from exercising such rights in any other way and exercising the remaining part of the Party’s Rights.

 

11.6 The titles of the Articles contained herein
shall be for reference only, and in no circumstances shall such titles be used in or affect the interpretation of the provisions
hereof.

 

11.7 Each provision contained herein shall
be severable and independent from each of other provisions, and if at any time any one or more articles herein become invalid,
illegal or unenforceable, the validity, legality or enforceability of the remaining provisions herein shall not be affected as
a result thereof

 

11.8 Upon execution, this Agreement shall substitute
any other legal documents previously executed by the Parties on the same subject.

 

11.9 Any amendments or supplements to
this Agreement shall be made in writing and shall take effect only when properly signed by the Parties to this Agreement.
Notwithstanding the preceding sentence, considering that the rights and obligations of each of the Shareholders hereunder are
independent and severable from each other, in case the amendment or supplement to this Agreement is intended to have impact
upon one of the Shareholders, such amendment or supplement requires the approval of such Shareholder only and it is not
required to obtain the approval from the other ones of the Shareholders (to the extent the amendment or supplement do not
have impact upon such other Shareholders).

 

     

     

    

 

11.10 Without prior written consent by HUAYA,
the Shareholders shall not transfer to any third party any of its right and/or obligation under this Agreement, HUAYA
shall have the right to transfer to any third party designated by it any of its right and/or obligation under this Agreement
after notice to the Shareholders.

 

11.11 This Agreement shall be binding on the legal successors of
the Parties.

 

Notwithstanding any provision to the contrary
in this Agreement, in case of the event stipulated under Article 6.2.10, the relevant Shareholder shall, upon request by HUAYA,,
procure that such new commercial consulting company should be included as a Target Company defined hereunder and that the all
the equity interest held by such Shareholder in such new commercial consulting company shall become the Option Equity defined hereunder,
by signing the acknowledgement letter in substantially the form attached hereto as Appendix III. Considering that the rights and
obligations of each of the Shareholders hereunder are independent and severable from each other, the arrangement procuring that
the equity interest in such new commercial consulting company becoming the Option Equity will have no impact on the rights or obligations
of the other Shareholders, the above arrangement requires written confirmation of HUAYA and the relevant Shareholder
only. The other Shareholders hereto hereby grant irrevocable and unconditional waiver in respect to such arrangement, and further
acknowledge that the relevant Shareholder should not be obligated to obtain approval from them when he or it make the equity interest
held by him or it Option Equity.

 

[The remainder of this page is left blank]

 

     

     

    

 

(EXECUTION PAGE)

 

IN WITNESS HEREOF, the following Parties have
caused this Call Option Agreement to be executed as of the date and in the place first here above mentioned.

 

	Ronghua Liu	 
	Signature by:	/s/ Ronghua Liu	 
	 	 	 
	Qiang Chen	 	 
	Signature by:	/s/ Qiang Chen	 
	 	 	 
	HUAYA CONSULTANT (SHENZHEN) CO., LTD. (Company chop)	 
	 	 	 
	Signed by:	/s/
    Qiang Chen	 
	Name:	Qiang Chen	 
	Position:	Authorized Representative	 
	 	 	 
	QIANHAI   ASIA
    TIMES (SHENZHEN) INTERNATIONAL FINANCIAL SERVICES CO., LTD (Company chop)	 
	 	 	 
	Signed by:	/s/ Qiang Chen	 
	Name:	Qiang Chen	 
	Position:	Authorized RepresentativeExhibit 10.8

 

CONFIDENTIAL

 

SHAREHOLDERS’ VOTING RIGHTS PROXY AGREEMENT

 

AMONG

 

RONGHUA LIU

 

QIANG CHEN

 

QIANHAI ASIA TIMES (SHENZHEN) INTERNATIONAL
FINANCIAL SERVICES CO., LTD.

 

AND

 

HUAYA CONSULTANT (SHENZHEN) CO., LTD.

 

9th October, 2018

 

    	 	 	1

     

    

 

SHAREHOLDERS’ VOTING RIGHTS PROXY
AGREEMENT

 

This SHAREHOLDERS’ VOTING RIGHTS PROXY
AGREEMENT (this “AGREEMENT”) is entered into as of 9th October, 2018 by and among the following
Parties:

 

(1) Ronghua Liu

ADDRESS: No. 16, 12 Team, Datang Village, Dali
Town, Beiliu, Guangxi Province, China

ID Number: 450681199012101418

 

(2) Qiang Chen

ADDRESS: Room 601, Unit 1, Building 9, Chengshi Shangu, Nanshan
District, Shenzhen City, Guangdong Province, China

ID Number:320503197010060537

 

(3) QIANHAI ASIA TIMES (SHENZHEN) INTERNATIONAL
FINANCE SERVICE CO., LTD. ( “ASIA TIMES”)

 

REGISTERED ADDRESS: Room 3902A, Building 5,
Dachong International Center, No.39 Tong Gu Road, Yuehai Street, Nanshan district, Shen Zhen, China

 

(4) HUAYA CONSULTANT (SHENZHEN) CO., LTD. (HUAYA)

 

REGISTERED ADDRESS: Room 3902, Building 5,
Dachong International Center, No.39 Tong Gu Road, Yuehai Street, Nanshan district, Shen Zhen, China

 

(The above parties shall hereinafter be individually
referred to as a “PARTY” and collectively, “PARTIES”. Ronghua Liu, Qiang Chen shall hereinafter be individually
referred to as a “PERSONAL SHAREHOLDER” and collectively, “PERSONAL SHAREHOLDERS”, Personal Shareholders
and ASIA TIMES shall hereinafter be individually referred to as a “SHAREHOLDER” and collectively, “SHAREHOLDERS”.)

 

WHEREAS:

 

1. As of the date of this Agreement, Ronghua
Liu, Qiang Chen are the enrolled shareholders of ASIA TIMES, legally holding all the equity in ASIA TIMES, of which Ronghua Liu
holding 98.5% interest, Qiang Chen holding 1.5%.

 

    	 	 	2

     

    

 

2. The Shareholders intend to severally entrust
the individual designated by HUAYA with the exercises of their voting rights in Target Company (as defined below)
while HUAYA is willing to designate such an individual.

 

The Parties hereby have reached the following agreement upon friendly
consultations:

 

ARTICLE 1 VOTING RIGHTS ENTRUSTMENT

 

1.1 Under this Agreement, “TARGET COMPANY”
shall mean, to Ronghua Liu, Qiang Chen , ASIA TIMES; and to ASIA TIMES, any and all of the companies held by ASIA TIMES (exclusive
of Qianhai ASIA TIMES (Shenzhen) International Fund Management Company (“Fund Company”)).

 

1.2 The Shareholders hereby irrevocably undertake
to respectively sign the Entrustment Letter after execution of the Agreement to respectively entrust the personnel designated by
HUAYA CONSULTANT (SHENZHEN) CO., LTD. then (“TRUSTEES”) to exercise the following rights enjoyed by them as shareholders
of Target Company in accordance with the then effective articles of association of Target Company (collectively, the “ENTRUSTED
RIGHTS”):

 

(1) Proposing to convene and attending shareholders’
meetings of Target Company as proxy of the Shareholders according to the articles of association of Target Company;

 

(2) Exercising voting rights as proxy of the
Shareholders, on issues discussed and resolved by the shareholders’ meeting of Target Company, including but not limited
to the appointment and election for the directors, general manager and other senior management personnel of Target Company.

 

The above authorization and entrustment is
granted subject to the status of trustees as PRC citizens and the approval by HUAYA. Upon and only upon written notice of dismissing
and replacing Trustee(s) given by HUAYA to the Shareholders, the Shareholders shall promptly entrust another PRC
citizen then designated by HUAYA to exercise the above Entrusted Rights, and once new entrustment is made, the original
entrustment shall be replaced; the Shareholders shall not cancel the authorization and entrustment of the Trustee(s) otherwise.

 

1.3 The Trustees shall perform the entrusted
obligation within the scope of entrustment in due care and prudence and in compliance with laws; the Shareholders acknowledge and
assume relevant liabilities for any legal consequences of the Trustees’ exercise of the foregoing Entrusted Rights.

 

1.4 The Shareholders hereby acknowledge that
the Trustees are not required to seek advice from the Shareholders prior to their respective exercise of the foregoing Entrusted
Rights. However, the Trustees shall inform the Shareholders in a timely manner of any resolution or proposal on convening interim
shareholders’ meeting after such resolution or proposal is made.

 

    	 	 	3

     

    

 

ARTICLE 2 RIGHT TO INFORMATION

 

2.1 For the purpose of exercising the Entrusted
Rights under this Agreement, the Trustees are entitled to know the information with regard to Target Company’s operation,
business, clients, finance, staff, etc., and shall have access to relevant materials of Target Company. Target Company shall adequately
cooperate with the Trustees in this regard.

 

ARTICLE 3 EXERCISE OF ENTRUSTED RIGHTS

 

3.1 The Shareholders will provide adequate
assistance to the exercise of the Entrusted Rights by the Trustees, including execution of the resolutions of the shareholders’
meeting of Target Company or other pertinent legal documents made by the Trustee when necessary (e.g., when it is necessary for
examination and approval of or registration or filing with governmental departments).

 

3.2 If at any time during the term of this
Agreement, the entrustment or exercise of the Entrusted Rights under this Agreement is unenforceable for any reason except for
default of any Shareholder or Target Company, the Parties shall immediately seek a most similar substitute for the unenforceable
provision and, if necessary, enter into supplementary agreement to amend or adjust the provisions herein, in order to ensure the
realization of the purpose of this Agreement.

 

ARTICLE 4 EXEMPTION AND COMPENSATION

 

4.1 The Parties acknowledge that HUAYA
shall not be requested to be liable for or compensate (monetary or otherwise) other Parties or any third party due to exercise
of Entrusted Rights by the Trustees designated by HUAYA under this Agreement.

 

4.2 Target Company and the Shareholders agree
to compensate HUAYA for and hold it harmless against all losses incurred or likely to be incurred by it due to exercise
of the Entrusted Rights by the Trustees designated by HUAYA, including without
limitation any loss resulting from any litigation, demand arbitration or claim initiated or raised by any third party against
it or from administrative investigation or penalty of governmental authorities.

 

However, the Shareholders and Target Company
will not compensate for losses incurred due to willful misconduct or gross negligence of HUAYA.

 

    	 	 	4

     

    

 

ARTICLE 5 REPRESENTATIONS AND WARRANTIES

 

5.1 Each of the Personal Shareholders hereby
severally and jointly represents and warrants that:

 

5.1.1 Each of the Personal Shareholders is
a PRC citizen with full capacity and with full and independent legal status and legal capacity to execute, deliver and perform
this Agreement, and may act independently as a subject of actions.

 

5.1.2 Each of the Personal Shareholders has
full right and authorization to execute and deliver this Agreement and other documents that are related to the transaction referred
to herein and to be executed by them. They have full right and authorization with respect to consummate the transaction referred
to herein.

 

5.1.3 This Agreement shall be executed and
delivered by the Personal Shareholders lawfully and properly. This Agreement constitutes the legal and binding obligations on them
and is enforceable on them in accordance with its terms and conditions hereof.

 

5.1.4 The Personal Shareholders are enrolled
and legal shareholders of Target Company as of the effective date of this Agreement, and except the rights created by this Agreement,
the Call Option Agreement entered into by HUAYA, Target Companies and them on 9th October, 2018 (the “CALL
OPTION AGREEMENT”), as well as the Equity Pledge Agreement entered into by HUAYA and Target Company and them
on 9th October, 2018, (the “EQUITY PLEDGE AGREEMENT”), there exists no third party right on
the Entrusted Rights. Pursuant to this Agreement, the Trustees may fully and sufficiently exercise the Entrusted Rights in accordance
with the then effective articles of association of Target Company.

 

5.1.5 Considering the fact that according to
Equity Pledge Agreement, considering the fact that Personal Shareholders will set aside all the equity interest held thereby in
relevant Target Company as security to secure the performance by them of their obligations under the Call Option Agreement entered
into between them respectively and HUAYA as of 9th October, 2018, Personal Shareholders
undertake to make full and due performance of the obligations under Call Option Agreement during the valid term of this Agreement,
and they will not be in conflict with any stipulation under Call Option Agreement, which are likely to have impact on the exercise
of his Entrusted Rights the Trustees under this Agreement.

 

5.1.6 Considering the facts that the Target
Company entered into the Exclusive Agreement (the “EXCLUSIVE SERVICE AGREEMENT”) on 9th October,
2018 with HUAYA, the Call Option Agreement with HUAYA and the Shareholders on 9th October,
2018, and that the Shareholders of Target Company will set aside all equity interest held thereby in Target Company as security
to secure the performance of the contractual obligations under the above two agreements by Target Company, the Personal Shareholders
undertake to, during the valid term of this Agreement, procure the full and due performance of Target Company of any and all its
obligations under the Service Agreement, the Call Option Agreement, and warrant that no adverse impact on the exercise of the Entrusted
Rights hereunder by the Trustees will be incurred due to the breach of the Exclusive Service Agreement, Call Option Agreement by
Target Company.

 

    	 	 	5

     

    

 

5.2 HUAYA (excluding the person
designated by it) hereby represents and warrants that:

 

5.2.1 it is a company with limited liability
properly registered and legally existing under PRC laws, with an independent corporate legal person status, and with full and independent
legal status and legal capacity to execute, deliver and perform this Agreement and may act independently as a subject of actions;
and

 

5.2.2 it has the full corporate power and authority
to execute and deliver this Agreement and all the other documents to be entered into by it in relation to the transaction contemplated
hereunder, and has the full power and authority to consummate such transaction.

 

5.3 Target Company other than ASIA TIMES
hereby in respect of themselves respectively represents and warrants that:

 

5.3.1 it is a company with limited liability
properly registered and legally existing under PRC laws, with an independent legal person status, and with full and independent
legal status and legal capacity to execute, deliver and perform this Agreement and may act independently as a subject of actions;
and

 

5.3.2 it has the full corporate power and authority
to execute and deliver this Agreement and all the other documents to be entered into by it in relation to the transaction contemplated
hereunder, and has the full power and authority to consummate such transaction.

 

5.3.3 the Shareholders are enrolled shareholders
as of the effective date of this Agreement, legally holding the equity interest in it. Except rights created by this Agreement,
the Equity Pledge Agreement and the Call Option Agreement, there exists no third party right on the Entrusted Rights. Pursuant
to this Agreement, the Trustees may fully and sufficiently exercise the Entrusted Rights in accordance with the then effective
articles of association of Target Company.

 

5.3.4 Considering the fact that the Shareholders
of Target Company will set aside all the equity interest held thereby in Target Company as security to secure the performance of
the contractual obligations by Target Company under the Exclusive Service Agreement and the Call Option Agreement, Target Company
undertakes to, during the valid term of this Agreement, make full and due performance of any and all obligations under the Exclusive
Service Agreement, the Call Option Agreement, and warrant that no adverse impact on the exercise of the Entrusted Rights hereunder
by the Trustees will be incurred due to the breach of the Exclusive Service Agreement, the Call Option Agreement by Target Company.

 

    	 	 	6

     

    

 

5.4 ASIA TIMES hereby in respect of itself represents
and warrants that:

 

5.4.1 it is a company with limited liability
properly registered and legally existing under PRC laws, with an independent legal person status, and with full and independent
legal status and legal capacity to execute, deliver and perform this Agreement and may act independently as a subject of actions;
and

 

5.4.2 it has the full corporate power and authority
to execute and deliver this Agreement and all the other documents to be entered into by it in relation to the transaction contemplated
hereunder, and has the full power and authority to consummate such transaction.

 

5.4.3 As of the effective date of this Agreement,
Ronghua Liu, Qiang Chen are enrolled shareholders, legally holding the equity interest in ASIA TIMES. Except rights created by
this Agreement, the Equity Pledge Agreement and the Call Option Agreement, in respect of ASIA TIMES, there exists no third party
right on the Entrusted Rights. Pursuant to this Agreement, the Trustees may fully and sufficiently exercise the Entrusted Rights
according to the then effective articles of association of ASIA TIMES.

 

5.4.4 As of the effective date of this Agreement
and in respect of Target Company in which it holds equity interest, it is enrolled shareholder. Except rights created by this Agreement,
the Call Option Agreement and the Equity Pledge Agreement, there exists no third party right on the Entrusted Rights. Pursuant
to this Agreement, the Trustees may fully and sufficiently exercise the Entrusted Rights according to the then effective articles
of association of Target Company.

 

5.4.5 Considering the fact that according to
the Equity Pledge Agreement, it shall set aside all equity interest held thereby in relevant Target Company as security to secure
the performance of its obligations under the Call Option Agreement. ASIA TIMES undertakes to make full and due performance
of the Call Option Agreement during the valid term of this Agreement and that it will not be in conflict with any term under the
Call Option Agreement, which may have impact on the exercise of the Entrusted Rights by the Trustees under this Agreement.

 

    	 	 	7

     

    

 

5.4.6 Considering the fact that according to
the Equity Pledge Agreement, that Shareholders of Target Company will set aside all the equity interest held thereby in Target
Company as security to secure the performance of the contractual obligations by Target Company under the Exclusive Service Agreement,
Call Option Agreement, ASIA TIMES undertakes to, during the valid term of this Agreement, procure the full and due
performance of any and all obligations under the Exclusive Service Agreement and Call Option Agreement by the Target Company in
which it holds equity interest, and warrants that no adverse impact on the exercise of the Entrusted Rights hereunder by the Trustees
will be incurred due to breaching the Exclusive Service Agreement, or Call Option Agreement by Target Company.

 

ARTICLE 6 TERM OF AGREEMENT

 

6.1 This Agreement takes effect from the date
of due execution of all the Parties hereto, with the valid term of twenty (20) years, unless terminated in advance by written agreement
of all the Parties or according to Article 8.1 of this Agreement. This Agreement shall automatically renew for another one (1)
year when the term (whether original or extended, if applicable) of this Agreement is due, unless HUAYA gives a thirty-day
notice in writing to the other Parties of the cancellation of such renewal.

 

6.2 In case that a Shareholder transfers all
of the equity interest held by it in Target Company with prior consent of HUAYA, such Shareholder shall no longer be a Party to
this Agreement whilst the obligations and commitments of the other Parties under this Agreement shall not be adversely affected
thereby.

 

ARTICLE 7 NOTICE

 

7.1 Any notice, request, demand and other correspondences
made as required by or in accordance with this Agreement shall be made in writing and delivered to the relevant Party.

 

7.2 The abovementioned notice or other correspondences
shall be deemed to have been delivered when (i) it is transmitted if transmitted by facsimile or telex, or (ii) it is delivered
if delivered in person, or (iii) when five (5) days have elapsed after posting the same if posted by mail.

 

ARTICLE 8 DEFAULT LIABILITY

 

8.1 The Parties agree and confirm that, if
any of the Parties (the “DEFAULTING PARTY”) breaches substantially any of the provisions herein or fails substantially
to perform any of the obligations hereunder, such a breach or failure shall constitute a default under this Agreement (a “DEFAULT”).
In such event any of the other Parties without default (a “NON-DEFAULTING PARTY”) who incurs losses arising from such
a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable
period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within
ten (10) days of a Non-defaulting Party’s notifying the Defaulting Party in writing and requiring it to rectify the Default,
then the relevant Non-defaulting Party shall be entitled to choose at its discretion to (1) terminate this Agreement and require
the Defaulting Party to indemnify all damages, or (2) require specific performance by the Defaulting Party of this Agreement and
indemnification against all damages.

 

    	 	 	8

     

    

 

8.2 Without limiting the generality of Article
8.1 above, any breach by any Shareholder of the Call Option Agreement or Equity Pledge Agreement shall be deemed as having constituted
the breach by such Shareholder of this Agreement; any breach by Target Company of the Exclusive Service Agreement or Call Option
Agreement shall be deemed as having constituted the breach by Target Company of this Agreement.

 

8.3 The Parties agree and confirm, the Shareholders
or Target Company shall not request the termination of this Agreement for whatsoever reason and under whatsoever circumstance,
except otherwise stipulated by laws or this Agreement.

 

8.4 Notwithstanding any other provisions herein,
the validity of this Article shall not be affected by the suspension or termination of this Agreement.

 

ARTICLE 9 MISCELLANEOUS

 

9.1 This Agreement shall be prepared in Chinese
language in four (4) original copies, with each involved Party holding one (1) hereof.

 

9.2 The conclusion, validity, execution, amendment, interpretation
and termination of this Agreement shall be governed by laws of the PRC.

 

9.3
Any disputes arising from and in connection with this Agreement shall be settled through consultations among the Parties involved,
and if the Parties involved fail to reach an agreement regarding such a dispute within thirty (30) days of its occurrence, such
dispute shall be submitted to Shenzhen Court of International Arbitration in accordance with the arbitration rules of such commission,
and the arbitration award shall be final and binding on all the Parties involved.

 

9.4 Any rights, powers and remedies empowered
to any Party by any provisions herein shall not preclude any other rights, powers and remedies enjoyed by such Party in accordance
with laws and other provisions under this Agreement, and a Party’s exercise of any of its rights, powers and remedies shall
not preclude its exercise of other rights, powers and remedies of it.

 

9.5 Any failure or delay by a Party in exercising
any of its rights, powers and remedies hereunder or in accordance with laws (the “PARTY’S RIGHTS”) shall not
lead to a waiver of such rights, and the waiver of any single or partial exercise of the Party’s Rights shall not preclude
such Party from exercising such rights in any other way or exercising the remaining part of the Party’s Rights.

 

    	 	 	9

     

    

 

9.6 The titles of the Articles contained herein are for reference
only, and in no circumstances shall such titles be used for or affect the interpretation of the provisions.

 

9.7 Each provision contained herein shall be
severable and independent from each of other provisions. If at any time any one or more articles herein become invalid, illegal
or unenforceable, the validity, legality or enforceability of the remaining provisions herein shall not be affected thereby.

 

9.8 Upon execution, this Agreement shall replace
any other previous legal documents entered into by relevant Parties on the same subject matter.

 

9.9 Any amendments or supplements to this Agreement
shall be made in writing and shall take effect only when properly signed by the Parties to this Agreement. Notwithstanding the
preceding sentence, considering that the rights and obligations of each Target Company and its Shareholders are independent and
severable from each other, in case that the amendment or supplement to this Agreement is intended to have impact upon one of the
Target Companies and its Shareholders, such amendment or supplement requires only the approval of HUAYA, the Target Company and
its Shareholder while no consent is necessary from the other Target Companies and their Shareholders (to the extent that the amendment
or supplement does not have impact upon such other Shareholders).

 

9.10 In respect of the Shareholder and Target
Company, they shall not assign any of their rights and/or transfer any of their obligations hereunder to any third parties without
prior written consent from HUAYA; HUAYA shall have the right to assign any of its rights and/or transfer any of its
obligations hereunder to any third parties designated by it after giving notice to the Shareholders.

 

9.11 This Agreement shall be binding on the legal successors of
the Parties.

 

9.12 The rights and obligations of Target Companies
are severable and independent, performance of this Agreement by any Shareholder and any Target Company shall not affect the performance
by the other Shareholders and other Target Companies.

 

    	 	 	10

     

    

 

9.13 Notwithstanding any provision to the contrary
in this Agreement, new companies other than the Target Companies and their shareholder(s) can be included as one party to this
Agreement by signing the Acknowledgement Letter in the form of Appendix to this Agreement. The new companies shall enjoy the same
rights and assume the same obligations as other Target Companies; the shareholder(s) of the new companies shall enjoy the same
rights and assume obligations as the other Shareholders hereunder. Since the rights and obligations of the Target Company and its
Shareholder(s) under the Agreement are severable and independent, the participation of the new target companies and their shareholders
will not affect the rights and obligations of the original Target Company and its Shareholders, the participation of the new target
companies only requires confirmation of HUAYA by signing. Each of the Target Companies hereby irrevocably and unconditionally
agrees to the participation of the new companies and their shareholders, and further confirms that the shareholder(s) of any new
target company can entrust the Trustees to exercise the voting rights according to the terms of this Agreement not necessarily
with consent of the original Target Companies or their relevant Shareholder(s).

 

[The remainder of this page is left blank]

 

    	 	 	11

     

    

 

IN WITNESS HEREOF, the following Parties have
caused this Shareholders’ Voting Rights Proxy Agreement to be executed as of the date first here above mentioned.

 

	Ronghua Liu 	 	 
	Signature by: 	/s/ Ronghua
    Liu 	 
	 	 	 
	Qiang Chen 	 	 
	Signature by:	 /s/ Qiang Chen 	 
	 	 	 
	HUAYA CONSULTANT
    (SHENZHEN) CO., LTD. Company chop	 
		 
	Signed by:	/s/ Qiang Chen 	 
	Name:	Qiang Chen	 
	Position:	Authorized Representative	 
	 	 	 
	QIANHAI   ASIA
    TIMES (SHENZHEN) INTERNATIONAL FINANCIAL SERVICES CO., LTD (Company     chop)	 
	 	 	 
	Signed by:	/s/
    Qiang Chen 	 
	Name:	Qiang Chen	 
	Position:	Authorized Representative	 

 

    	 	 	12

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