Document:

Exhibit 10.9

 

Contract No: (320382017)
Rural Commercial Bank Loan [2017]No.1108001

 

Revolving Working Capital Loan Contract

 

Borrower: Jiangsu
Baikang Biological Pharmaceutical Co., Ltd 

Lender: Jiangsu
Pizhou Rural Commercial Bank Co., Ltd

 

November 8, 2017

 

     

     

    

 

Revolving Working Capital Loan Contract

 

Contract No: (320382017)
Rural Commercial Bank Loan [2017]No.1108001

 

For the purpose set
forth in Section 2.1 of this contract, the borrower hereby applies to the lender for a loan. The lender has agreed to make the
loan to the borrower. The borrower and the lender hereby enter into this contract through friendly consultations according to the
Contract Law, the General Provisions for Loans and other applicable laws and regulations, setting forth respective rights and obligations.

 

Section 1 Type
of loan 

 

1.1 The loan hereunder
is a revolving working capital loan.

 

Section 2 Purpose
of loan 

 

2.1 The purpose of the
loan hereunder is to meet the borrower’s needs for working capital in production and business operations, as set forth in
the certificate of indebtedness.

 

2.2 Without the prior
written consent of the lender, the borrower may not change the purpose of loan set forth herein and the certificate of indebtedness
for any reasons.

 

Section 3 Limit
and term of revolving loan 

 

3.2 The period during
which the borrower may use the aforesaid revolving loan shall commence from the effective date of this contract and end on October
20, 2019. During this period, the borrower may use the aforesaid loan limit in a revolving manner, provided that the loan balance
at any time during such period may not exceed such loan limit.

 

3.3 The term of loan
for each drawdown by the borrower shall commerce from the date of actual drawdown by the borrower and expire on the agreed date
of repayment, as set forth in the certificate of indebtedness, provided that the repayment date of any drawdown may not be later
than the expiration date of the period of loan limit use set forth in Section 3.2.

 

    	 	1	 

     

    

 

Section 4 Loan
interest rate and interest accrual 

 

4.1 Interest shall accrue
on the loan hereunder on a daily basis from the actual drawdown date for the actual number of days of loan utilization (daily interest
rate =annual interest rate/360), with interest to be settled on a monthly (monthly/quarter)basis and on the 20th
day of each month (20th day of each month/20th day of the last month of each quarter) or the immediately
following banking day if the interest settlement date is not a banking day. The interest accrued on the loan shall be fully repaid
along with principal repayment upon the maturity of the loan.

 

4.2 The loan interest
rate hereunder shall be determined in the following manner 4.2.3:

 

4.2.1 Fixed interest
rate with annual interest rate of __%, which will remain unchanged during the term of this contract.

 

4.2.2 The interest rate
hereunder is determined to be __% (above/below) the base interest rate of the corresponding class published by the People’s
Bank of China. The contractual interest rate shall be adjusted on a period-by-period basis, with ___(year/half a year/quarter/month)
as a period. The date for determination of interest rate of the first period shall be the effective date of this contract, and
the lender will determine the interest rate of the first period based on the base interest rate of the corresponding class published
by the People’s Bank of China on the effective date of the loan contract and the extent of fluctuation agreed upon by both
parties, i.e., the annual interest rate of ___%. The date for determination of interest rate of the second period and each subsequent
period shall be the date corresponding to the effective date hereof, and the lender will determine the interest rate of the current
period based on the base interest rate of the corresponding class published by the People’s Bank of China on the date corresponding
to the effective date of the loan contract and the extent of fluctuation agreed upon by both parties, provided that if the month
of adjustment has no day corresponding to the effective date hereof, the last day of such month shall be the corresponding day.

 

In case of drawdown
in installments, regardless of the number of withdrawals in a period, the current interest rate determined on the effective date
hereof or the corresponding date shall apply and shall be adjusted on the day of the next period corresponding to the effective
date hereof.

 

4.2.3 Others: subject
to the interest rate indicated in the certificate of indebtedness. 

 

    	 	2	 

     

    

 

4.3 In case of any change
made by the People’s Bank of China to the interest rate or interest rate determination process, the applicable rules of the
People’s Bank of China shall govern.

 

4.4 Penalty interest

 

4.4.1 If the borrower
fails to repay the loan principal and interest hereunder when due (including the amount declared due and repayable immediately),
interest shall be charged at the penalty interest rate on overdue loan on the overdue portion from the due date until repayment
of the principal and interest in full.

 

The penalty interest
rate on overdue loan shall be the loan interest rate set forth in this Section 4.2 plus 30%.

 

4.4.2 If the borrower
fails to use the loan for the purpose set forth herein, interest shall be charged at the penalty interest rate on misappropriated
loan on the overdue portion from the date of misappropriation until repayment of the principal and interest in full.

 

The penalty interest
rate on misappropriated loan shall be the loan interest rate set forth in this Section 4.2 plus 50%.

 

4.4.3 Interest shall
be charged at the penalty interest rate on misappropriated loan if the loan is both overdue and misappropriated.

 

4.4.4 Compound interest
shall be charged on the interest that the borrower fails to pay when due at the loan interest rate set forth in Section 4.2 during
the term of loan and using the interest settlement process set forth in Section 4.1, and thereafter at the penalty interest rate
set forth in this section instead when the loan becomes overdue.

 

4.4.5 For accrual of
penalty interest and compound interest, in case of any adjustment to the loan interest rate set forth herein, the penalty interest
and compound interest shall be calculated on a period-by-period basis as of date of adjustment.

 

Section 5. Conditions
for drawdown 

 

5.1 The borrower shall
meet the following conditions in order to withdraw the loan proceeds:

 

5.1.1. This contract
and its annexes shall have taken effect.

 

    	 	3	 

     

    

 

5.1.2 The borrower shall
have provided the guarantee as required by the lender, the guarantee contract shall have taken effect and completed the statutory
approval, registration or filing formalities.

 

5.1.3 The borrower shall
have provided the lender with the borrower’s documents, instruments, specimen seal, personnel list and specimen signature
in connection with execution and performance of this contract and have completed the related vouchers;

 

5.1.4 The borrower shall
have opened accounts required for performance of this contract as required by the lender.

 

5.1.5 The borrower shall
have submitted a written drawdown application to the lender along with related certificate of purpose of loan and completed the
related drawdown formalities 7 banking days prior to drawdown.

 

5.1.6 The self-owned
funds as required by the lender shall have been made available in full.

 

	5.1.7 Other conditions
for drawdown as specified in laws and agreed upon by both parties:	 

	 	 
	 	 

 

5.2 If any of the aforesaid
conditions for drawdown is not met, the lender has the right to reject the drawdown application of the borrower, except that the
lender agrees to disburse the loan.

 

Section 6 Drawdown

 

6.1 For each drawdown,
the borrower shall submit a drawdown application to the lender at least ___banking days in advance and complete the corresponding
certificate of indebtedness.

 

6.2 Any drawdown application,
once submitted, may not be revoked without the prior written consent of the lender.

 

6.3 Account into which
the funds withdrawn by the borrower shall be deposited (single choice)

 

þSettlement
account opened by the borrower, account name: Jiangsu Baikang Biological Pharmaceutical Co., Ltd, account No: 320382170120100033587.

 

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 ̈Dedicated loan
disbursement account, account name_____________________, account No:_________________________________________________________.

 

6.4 During the loan
release, if any of the following events occurs with respect to the borrower, the lender shall consult with the borrower to make
additional conditions for loan disbursement in writing as integral part of this contract or cease to release the loan proceeds:

 

6.4.1 Decreased credit
standing;

 

6.4.2 Failure to pay
the loan proceeds according to the provisions of the contract.

 

6.4.3 Insufficient profitability
of primary line of business;

 

6.4.4 Abnormal use of
loan proceeds;

 

6.4.5 Attempt to circumvent
authorized disbursement by the lender by means of breaking down the loan into parts in violation of the provisions hereof.

 

Section 7 Disbursement
of loan proceeds 

 

7.1 Any single loan
exceeding RMB 3 million shall be disbursed by the lender upon request. Method for disbursement of other loan proceeds to
be adopted (single choice)

 

þDisbursement
by the lender upon request: the lender will disburse the loan via the borrower’s account to the counterparty of the borrower
that meets the purpose set forth herein after satisfactory review according to the drawdown application and payment request of
the borrower. Where Section 6.3 hereof provides that the withdrawn amount shall be deposited into the dedicated loan disbursement
account, the disbursement upon request shall be handled through this account. 

 

 ̈Disbursement
by the borrower: After the lender disburses the loan proceeds into the borrower’s account according to the borrower’s
drawdown application, the borrower will disburse the same to its counterparty that meets the purpose set forth herein at its sole
discretion. Where Section 6.3 hereof provides that the withdrawn amount shall be deposited into the dedicated loan disbursement
account, the autonomous disbursement shall be handled through this account.

 

The lender may also
determine the corresponding disbursement process according to the reality of each drawdown of the borrower, and so indicate on
the written drawdown application of the borrower. If the disbursement process indicated on the drawdown application is inconsistent
with that set forth herein, the former shall prevail.

 

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7.2 Where the disbursement
is to be made by the lender upon request, the borrower shall submit the related transaction documents to the lender 7 banking
days prior to the date of request for disbursement; Where the disbursement is to be made by the borrower itself, the borrower shall
summarize and report on the disbursement of loan proceeds in writing within ___ days of the end of each  ̈quarter/ ̈month.

 

7.3 During the loan
disbursement, if any of the following events occurs with respect to the borrower, the lender shall consult with the borrower to
make additional conditions for drawdown in writing as integral part of this contract or cease to disburse the loan proceeds:

 

7.3.1 Decreased credit
standing;

 

7.3.2 Failure to pay
the loan proceeds according to the provisions of the contract.

 

7.3.3 Insufficient profitability
of primary line of business;

 

7.3.4 Abnormal use of
loan proceeds;

 

7.3.5 Attempt to circumvent
authorized disbursement by the lender by means of breaking down the loan into parts in violation of the provisions hereof.

 

Section 8 Repayment

 

8.1 The source of funding
for the borrower’s repayment of the loan principal and interest hereunder include but not limited to:

 

A. The operating
income of the borrower. 

 

B. Repayment by the
guarantor on behalf of the borrower or realization of the assets of the borrower. 

 

8.2 The borrower shall
repay the loan strictly according to the due date and amount indicated on the certificate of indebtedness, provided that the due
date shall be the immediately following banking day if the due date is not a banking day.

 

The borrower shall file
a written request to the lender 15 banking days prior to the maturity of the applicable loan if it intends to change the aforesaid
repayment schedule, which change shall be subject mutual confirmation by both parties in writing.

 

    	 	6	 

     

    

 

8.3 Except as otherwise
agreed upon by both parties, if the borrower becomes delinquent in both loan principal and interest, the lender has the right to
determine the sequence of principal repayment or interest payment; in case of installment repayment, if there exist multiple due
loans or overdue loans hereunder, the lender has the right to determine the sequence of settlement of a certain repayment by the
borrower.

 

Where there exist multiple matured loan
contracts between the borrower and the lender, the lender has the right to determine the sequence of contracts to be performed
by the borrower for each repayment.

 

8.4. Except as otherwise
agreed upon by both parties, the borrower may make prepayment by giving a written notice to the lender 15 banking days in
advance. If there exist multiple loans, the lender has the right to determine the sequence of repayment for the amount to be prepaid.

 

The lender has the right
to charge compensation at a rate of _______ with respect to the prepaid portion.

 

8.5 The borrower shall
make repayment in the following manner _______.

 

8.5.1 The borrower shall
deposit sufficient funds into the following repayment account for repayment 1 banking day prior to the maturity of each
tranche of principal and interest, from which the lender has the right to deduct the amount at its sole discretion at the maturity
date of each tranche of principal and interest.

 

Account name: Jiangsu Baikang Biological
Pharmaceutical Co., Ltd, 

 

Account No: 320382170120100033587. 

 

8.5.2 Other repayment
processes agreed upon by both parties:_________________.

 

Section 9 Guarantee

 

9.1 The form of guarantee
for the debts hereunder is (single choice):

 

 ̈This contract
is the principal contract under the _________contract executed by and between the guarantor _____________ and the lender (contract
No._________), whereby the guarantor shall provide the guarantee.

 

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þThis
contract is the principal contract under the _Maximum-amount Mortgage contract executed by and between the guarantor Jiangsu
Baikang Biological Pharmaceutical Co., Ltd and the lender (contract No. (320382017) Rural Commercial Bank Maximum Mortgage
[2017]No.1108003); in addition, Li Jinguo, Tang Fangshi, Yan Zongping and Cui Dehua will provide joint liability
guarantee and execute the corresponding guarantee contract. Wherein: the amount of debt corresponding to such _________guarantee
contract is outside the scope of the principal debt under the aforesaid maximum-amount guarantee contract, while the remaining
debt amount is within the scope of its principal debt. 

 

 ̈(Other forms
of guarantee)________________________.

 

9.2 If the borrower
or the guarantor incurs any event that the lender deems likely to affect adversely its ability to perform the contract, or the
guarantee contract becomes invalid, is revoked or terminated, or the borrower or the guarantor suffers deteriorating financial
condition or becomes involved in any significant legal action or arbitration or otherwise encounters any other event that might
adversely effect its ability to perform the contract, or the guarantor defaults under the guarantee contract or any other contract
between it and the lender, or the collateral depreciates, is destroyed, lost or judicially attached, resulting in impairment or
loss of the guaranteed value, the lender has the right to require the borrower, and the borrower has the obligation to provide
a new guarantee or replace the guarantor or otherwise in order to guarantee the debts hereunder.

 

Section 10 Insurance
(this is a selective term, under which the choice is ___: 1. applicable; 2. not applicable) 

 

10.1 The borrower shall
procure insurance for the real estate, equipment and risks during construction, cargo transport and business operations in connection
with the trade hereunder from an insurance company acceptable to the lender against such risks as required by the lender and in
an amount of no less than the loan principal.

 

10.2 The borrower shall
deliver the original of the insurance policy to the lender within ___ days of the effective date of this contract. The lender may
not interrupt the insurance coverage for any reasons prior to the full repayment of the loan principal, interest and fees hereunder,
otherwise the lender has to the right to renew or procure the insurance coverage on behalf of the borrower at the sole costs of
the borrower. The borrower shall be liable for any and all losses incurred to the lender due to interruption of insurance coverage.

 

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10.3 The borrower shall
notify the lender in writing of any insured accident within 3 days of the date when it knows or should know the occurrence of such
accident and promptly claim against the insurer according to the applicable provisions of the insurance policy; the borrower shall
be liable for the losses incurred to the lender due to its failure to notify in time or promptly make claims or perform its obligations
under the insurance policy.

 

10.4 Except as otherwise
agreed upon herein, the insurance indemnities shall be first applied towards repayment of the loan principal and interest and other
fees payable hereunder.

 

Section 11 Representations
and warranties 

 

11.1 The borrower hereby
represents as follows:

 

11.1.1 It is duly incorporated
and validly existing according to law and has the full authority, right and power to execute and perform this contract;

 

11.1.2 Execution and
performance of this contract is the expression of its true intention and it has obtained lawful and valid authorizations according
to its charter or other internal management documents and the execution and performance of this contract will not violate any agreement,
contract and other legal instruments binding upon it; it has acquired or will acquire any and all related approvals, permits, filings
or registrations required for execution and performance of this contract

 

11.1.3 Any and all documents,
financial statements, vouchers and other data provided by it to the lender hereunder are true, complete, accurate and valid;

 

11.1.4 The transaction
background of the business that the borrower applies to the lender for conduct is true and lawful and has not been used for money
laundering or any other illegal purposes.

 

11.1.5 It has not hidden
from the lender any event that might adversely affect its or guarantor’s financial condition and performance capabilities.

 

11.1.6 Other representations
of the borrower:______________________.

 

    	 	9	 

     

    

 

11.2 The borrower hereby
warrants as follows:

 

11.2.1 It will submit
its financial statements (including but not limited to annual, quarterly and monthly statements) and other true, complete and valid
materials to the lender on a regular basis and in a timely manner as required by the lender;

 

11.2.2 If the borrower
has or will execute any counter-guarantee agreement or similar agreement with the guarantor of this contract with respect to its
guarantee obligations, such agreement will not impair any of the lender’s rights hereunder;

 

11.2.3 It will subject
itself to the loan disbursement management, post-loan management and related inspections by the lender.

 

11.2.4 If any event
occurs that might adversely affect the financial conditions and performance capabilities of the borrower or the guarantor, including
but not limited to any form of spinoff, consolidation, joint operation, joint venture with foreign investor, cooperation, contract
operation, reorganization, restructuring, IPO plan or any other change of business practices, reduced registered capital, transfer
of significant assets or equities, assumption of significant liabilities, substantial increase in debt financing or imposition
of new and significant liabilities on collaterals, attachment of collaterals, dissolution, revocation, bankruptcy petition by or
against it or involvement in any significant lawsuit or arbitration case or operational difficulties or deterioration of financial
condition or any default event of the borrower under any other contract, the borrower shall promptly notify the lender and obtain
the prior consent of the lender.

 

11.2.5 The debts of
the borrower to the lender shall be settled in priority to the borrowings of the borrower from its shareholders and in a manner
no less favorable than the similar debts that the borrower has to its other creditors;

 

11.2.6 Where the after-tax
net profits in any related accounting year are zero or negative or otherwise insufficient to cover the accumulated losses from
the previous accounting years, or the pre-tax profits are not applied towards repayment of the principal, interest and fees repayable
by the borrower within such accounting year or are insufficient to repay the next tranche of principal, interest and fees, the
borrower may not distribute any dividends or bonus to its shareholders in any manner or form.

 

    	 	10	 

     

    

 

11.2.7 The borrower
may not dispose of its assets in any manner that reduces its debt service capabilities. The borrower undertakes that the total
amount of its external guarantees will not be more than ____times its net assets and the total amount of external guarantees and
the amount of individual guarantee will not exceed the limit specified in its articles of association.

 

11.2.8 The borrower
agrees that the following account (account name: Jiangsu Baikang Biological Pharmaceutical Co., Ltd, account No: 320382170120100033587)
will be its collection account and it will provide the lender with the information on receipt and expenditure of funds into
and from the account in a timely manner. It further agrees that the lender may consult and execute an account management agreement
with the borrower based on the credit standing and financing performance of the borrower, setting forth the management of the receipt
and expenditure of funds into and from the designated account.

 

11.2.9 It will accept
the monitoring of the aforesaid settlement account, the dedicated loan disbursement account and the collection account by the lender
and provide sufficient assistance and cooperation.

 

11.2.10 Other warranties
of the borrower:__________________________________.

 

Section 12 Disclosure
of related-party transactions inside the group to which the borrower belongs (this is a selective term, under which the choice
is ____: 1. applicable; 2. not applicable).

 

12.1 The borrower is
a group customer as determined by the lender according to the Guidelines to Commercial Banks on Business Risk Management Concerning
Credit Extension to Group Customers. The borrower shall promptly report to the lender on any related-party transaction involving
more than 10% of its net assets, including the relations between counterparties, item and nature of transaction, amount of transaction
or corresponding percentage and pricing policy (including transactions without amount or with nominal amount only).

 

    	 	11	 

     

    

 

12.2 The lender has
the right to cease to disburse to the borrower any unused loan proceeds at its sole discretion and recover the loan principal and
interest in part or in full in advance if the borrower seeks discounting or pledge with the bank with any creditor’s right
without actual trade background such as notes receivable and accounts receivable by using any falsified contract with related party,
with a view to defaulting the bank of funds or credit extension; conducts any significant merger, acquisition or reorganization
or otherwise that the lender believes might adversely affect the security of loan; intentionally evades bank’s creditor’s
right through related-party transaction; or otherwise falls into any category specified in Article 18 of the Guidelines to Commercial
Banks on Business Risk Management Concerning Credit Extension to Group Customers.

 

Section 13 Default
event and treatment 

 

13.1 Any of the following
events shall constitute or be deemed a default event of the borrower hereunder:

 

13.1.1 The borrower
fails to perform its payment and settlement obligations to the lender pursuant to the provisions hereof;

 

13.1.2 The borrower
fails to use the loan proceeds acquired by it for the purpose set forth herein pursuant to the provisions hereof;

 

13.1.3 Any representation
made by the borrower herein proves untrue or the borrower violates any of its warranties made herein.

 

13.1.4 Any event set
forth in Section 11.2.4 hereof occurs, which the lender believes might adversely affect the financial condition or performance
capabilities of the borrower or the guarantor, while the borrower fails to provide a new guarantee or replace the guarantor pursuant
to the provisions hereof;

 

13.1.5 The borrower
violates any other provisions of this contract regarding the rights and obligations of parties;

 

13.1.6 The borrower
incurs any default event under any other contract between it and the lender;

 

13.1.7 The guarantor
violates any provisions of the guarantee contract or incurs any default event under any other contract between it and the lender
or another organization of the lender;

 

13.1.8 The borrower
ceases to conduct business or is dissolved, deregistered or becomes bankrupt;

 

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13.1.9 Any of agreed
financial indicators is exceeded;

 

13.1.10 Any event of
significant cross default occurs;

 

13.1.11 Failure to pay
the loan proceeds in such manner as specified herein;

 

13.1.12 Any information
contained in the loan application proves untrue.

 

13.2 In case of any
default event specified in Section 13.1 hereof, the lender has the right to take one or several or all of the following measures
depending upon the specific circumstances:

 

13.2.1 Require the borrower
and the guarantor to cure their default within a specified period;

 

13.2.2 Reduce, suspend
or terminate the credit limit to the borrower in full or in part;

 

13.2.3 Suspend or cease
to accept any service request of the borrower hereunder or under any other contract between the borrower and the lender in part
or in full, including but not limited to drawdown application; suspend or cease to issue and deal with the undisbursed loan or
outstanding trade financing in part or in full.

 

13.2.4 Declare the outstanding
principal and interest of the loan/trade financing and other payables hereunder or under any other contract between the borrower
and the lender immediately due and payable in part or in full;

 

13.2.5 Terminate or
rescind this contract and terminate or rescind any other contract between the borrower and the lender in part or in full;

 

13.2.6 Require the borrower
to compensate for the losses incurred to the lender due to its default;

 

13.2.7 Subject only
to prior or ex-post notice, deduct the amount in the account opened by the borrower with another organization of the lender in
order to satisfy the debts of the borrower to the lender hereunder in part or in full. The undue amounts in such account shall
be deemed immediately due and payable. In case the currency of the account is different from the lender’s invoicing currency,
the outstanding amount shall be converted at the listed exchange rate of exchange settlement applicable to the lender at the time
of deduction;

 

    	 	13	 

     

    

 

13.2.8 Exercise the
security interest;

 

13.2.9 Require the guarantor
to assume warranty liabilities;

 

13.2.10 Such other measures
as the lender deems necessary and possible.

 

Section 14 Reservation
of rights 

 

14.1 Failure of either
party to exercise any or all of its rights hereunder or to require the other party to perform and assume any or all of its obligations
and liabilities shall not constitute waiver of such right or exemption o such obligations or liabilities.

 

14.2 Any indulgence,
grace or delayed exercise of any rights hereunder granted by either party to the other party shall not affect any of its rights
that it enjoys hereunder and according to laws and regulations, nor shall the same be deemed wavier of such right.

 

Section 15 Modification,
amendment and termination 

 

15.1 This contract may
be modified or amended in writing with the mutual consent of both parties, and any such modification or amendment hereto shall
constitute integral part of this contract.

 

15.2 Except as otherwise
specified herein or agreed upon by parties hereto, this contract may not terminate prior to full performance of any and all respective
rights and obligations hereunder.

 

15.3 Except as otherwise
specified herein or agreed upon by parties hereto, the invalidity of any term of this contract shall not affect the legal effect
of any other term hereof.

 

Section 16. Governing
law and dispute resolution 

 

16.1 This contract shall
be governed by and construed according to the laws of the People’s Republic of China.

 

16.2 Upon execution
of this contract, any and all disputes arising out of execution and performance of this contract or in connection with this contract
may be resolved by both parties through consultations, failing which either party may resolve the dispute in the following manner
16.2.3:

 

16.2.1 Submit to _____________Arbitration
Commission for arbitration.

 

16.2.2. Sue to the people’s
court having competent jurisdiction over the lender or another organization of the lender exercising rights and performing obligations
hereunder and under individual agreements.

 

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16.2.3 Sue to the people’s
court having competent jurisdiction according to law.

 

16.3 During the dispute
resolution, if such dispute does not affect the performance of other terms of this contract, such other terms hereof shall continue
in full force and effect.

 

Section 17 Costs
and expenses 

 

17.1 Except as otherwise
specified in laws or agreed upon by both parties, the costs and expenses incurred as a result of execution, performance and dispute
resolution of this contract (including but not limited to attorney’s fee) shall be borne by the borrower.

 

Section 18 Annexes

 

18.1 The following annexes
and other annexes confirmed by both parties shall constitute integral part of this contract and bear the same legal effect as this
contract.

 

18.1.1 Drawdown application;

 

18.1.2 Payment order;

 

	18.1.3Other annexes	 

	 	 
	 	 

 

Section 19 Miscellaneous

 

19.1 The borrower shall
not transfer or assign any of its rights or obligations hereunder to any third party without the prior written consent of the lender.

 

19.2 If the lender needs
to engage another organization of the lender to perform its rights and obligations hereunder due to operational needs or allocate
the loan business hereunder to another organization of the lender for takeover and management, the borrower hereby accepts such
arrangement. Such other organization of the lender authorized by the lender or such other organization of the lender undertaking
the loan business hereunder has the right to exercise any and all of the lender’s rights hereunder and sue to the court,
submit to the arbitral authority for arbitration or apply for specific performance in the name of such organization with respect
to any dispute hereunder.

 

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19.3 Without prejudice
to any other provisions hereof, this contract shall inure to the benefits of and bind upon both parties and respective successors
and assigns arising according to law.

 

19.4 Except as otherwise
specified herein, both parties designate respective addresses indicated herein as respective addresses for notice and contact and
undertake to notify the other party in writing promptly of any change to such address, otherwise any communication sent shall be
deemed duly served within a certain reasonable period.

 

19.5 The transaction
contemplated hereunder shall be conducted based on respective independent interests. If other parties to the transaction constitute
affiliates or associates of the lender according to the applicable laws, regulations and regulatory requirements, all parties shall
not seek to utilize such affiliated relationship to influence the fairness of transaction.

 

19.6 The section headings
and business designations contained herein are for ease of reference only and shall be ignored in the interpretation of terms and
rights and obligations of parties hereto.

 

Section 20 Execution

 

20.1 This contract shall
take effect upon being signed and sealed by the legal representatives (CEO) of both parties or their authorized signatories with
respective corporate seals.

 

20.2 This contract is
made in 3 copies, 1 copy for each party and each copy bearing the same legal effect.

 

Section 21 Special
statement 

 

21.1 The lender
has reminded the borrower to fully and accurately understand all printed terms of this contract, and made explanations as required
by the borrower upon the request of the borrower. Both parties hereto have the same understanding of the meanings of all terms
of this contract. 

 

	Borrower	 	Lender
	 	 	 
	Borrower: 	(corporate seal)
    	 	Lender:	(corporate seal)
    
	Jiangsu
    Baikang Biological 

    Pharmaceutical Co., Ltd(seal)	 	Jiangsu
    Pizhou Rural Commercial 

    Bank Co., Ltd (seal)
	 	 	 
	Legal representative (CEO):  (signature/seal)
    	 	CEO:
    	(signature/seal)
	 	 	 	 
	 	 	Handler: 	 	(signature/seal)
    
	 	 	 
	ID No:
    320382196811282551     	 	 
	Postal
    address: Tiefu Town Industrial Park 	 	 
	Tel:
    13605222333 	 	 

 

	Date of signing: November 8, 2017	Place of signing: Tiefu Branch  

 

    	 	16Exhibit 10.10

 

Contract No: (320382017) Rural Commercial
Bank Maximum Mortgage

 

[2017]No.1108003

 

Maximum-amount Mortgage Contract

 

Debtor: Jiangsu Baikang Biological Pharmaceutical
Co., Ltd 

 

Mortgagor:    1.      Jiangsu Baikang Biological
Pharmaceutical Co., Ltd

 

2. _________________________________________

 

3. _________________________________________

 

Mortgagee: Jiangsu Pizhou Rural Commercial
Bank Co., Ltd 

 

November 8, 2017

 

     

     

    

 

Maximum-amount Mortgage
Contract

 

Contract No: (320382017)
Rural Commercial Bank Maximum Mortgage

 

[2017]No.1108003

 

Debtor(full name): Jiangsu Baikang Biological
Pharmaceutical Co., Ltd 

 

Mortgagor (full name):     (1). Jiangsu
Baikang Biological Pharmaceutical Co., Ltd

 

(2). _________________________________________

 

Mortgagee(full name): Jiangsu Pizhou
Rural Commercial Bank Co., Ltd 

 

To ensure the effective
performance of the Revolving Working Capital Loan Contract executed by and between (full name)Jiangsu Baikang Biological Pharmaceutical
Co., Ltd_(hereinafter “debtor”) and the mortgagee (contract No.: (320382017) Rural Commercial Bank Loan [2017]No.1108003)
(hereinafter “principal contract”), the mortgagor has received and reviewed the principal contract guaranteed and is
willing to provide mortgage guarantee for the debts formed by the debtor to the mortgagee according to the principal contract.
According to the Contract Law, the Guarantee Law and the Property Law of the People’s Republic of China and other applicable
laws and regulations, all parties hereby enter into this contract through consultations, intending to be bound hereby.

 

Section 1. Term of principal
creditor’s right guaranteed and its maximum amount

 

1. The mortgagor is
willing to provide guarantee for the maximum principal balance of equivalent to RMB (in words) three million nine hundred thousand
Yuan actually resulting from various businesses handled by the debtor with the mortgagee from November 8, 2017 to October
20, 2019. Foreign-currency transactions shall be converted at the selling price on the date of occurrence of transaction. The
aforesaid period shall only refer to the period during which the debts occur, excluding the maturity date of the debts. The aforesaid
various businesses specifically include (tick where appropriate):

 

þ
RMB/foreign-currency loans  ̈ LC issuance finance  ̈
export-oriented packing loan  ̈ discounting of
bank/commercial acceptance bill  ̈ import bill advance  ̈
bank guarantee  ̈ acceptance of bank acceptance bill  ̈
export bill purchase

 

Other businesses:_____________________________________________________

 

    - 1 - 

     

    

 

2. During the period
and within the maximum balance set forth herein, the debtor may apply for revolving use of the aforesaid bank credit. The commencement
date, expiration date, interest rate and amount of each business shall be as specified in the certificate of indebtedness or related
voucher of creditor’s right under the principal contract.

 

3. During the period
and within the maximum balance set forth herein, the mortgagee may issue the loan set forth herein and provide other bank credits
or permit the debtor to repeatedly use the credit funds or other bank credit in a revolving manner without handling the guarantee
formalities on a transaction -by-transaction basis.

 

4. The mortgagor shall
assume guarantee liabilities for any debts resulting from any business incurred during the period and within the maximum balance
set forth herein, regardless of the currency.

Section 2 Scope of mortgage
guarantee

 

The scope of mortgage
guarantee includes all debt principal, interest, overdue interest, compound interest, penalty interest, liquidated damages incurred
by the debtor with the mortgagee pursuant to the principal contract, the loss of earnable interest and damages resulting from early
loan recovery by the mortgagee under the principal contract, the costs and expenses incurred by the mortgagee to realize its creditor’s
right (including but not limited to legal costs, execution costs, collateral custodian fee, disposal cost, transfer fee, attorney’s
fee and travel expenses) and other costs and expenses payable.

 

The mortgagor is willing
to assume guarantee liabilities for the portion actually in excess of the maximum balance due to the exchange rate change.

 

Section 3 Collateral

 

1. The
mortgagor agrees to use the following properties machinery and equipment (as detailed in the list of collaterals No.:
0320383017720171108004) as the collateral and the aforesaid list of collaterals shall constitute integral part of this
contract.

 

2. The aforesaid
collaterals are tentatively priced at RMB (amount in words) six million five hundred eighty two thousand three hundred
twenty one Yuan forty three Fen, the ultimate value of which is subject to the net income from the actual disposal of the
collaterals when the mortgage is realized.

 

    - 2 - 

     

    

 

Section 4 Mortgagor’s
covenants

 

1. The mortgagor has
the full and undisputed ownership or right to dispose of the collaterals.

 

2. The collaterals can
be circulated or transferred according to law.

 

3. The collaterals have
not been attached, detained, supervised or otherwise.

 

4. The mortgagor has
not concealed any information about overdue taxes, project payments or any other amounts in arrears under the collaterals, the
lease of the collaterals and the hidden defects in the collaterals.

 

5. The mortgagor has
obtained the consent from the co-owner of the collaterals or government authorities to the mortgage hereunder.

 

6. The collaterals are
free of any other circumstances that adversely affect the realization of mortgage by the mortgagee.

 

7. The mortgagor agrees
that the mortgage rate of the collaterals is within __% of the provisional price of the aforesaid collaterals.

 

8. The mortgagor shall
proactively understand the business performance of the debtor under the principal contract and the occurrence and performance of
various businesses under the contract. The principal contract, certificate of indebtedness or related voucher of creditor’s
right with respect to various business incurred hereunder will no longer be served upon the mortgagor.

 

9. The mortgagor has
the obligation to supervise the principal contract debtor to use the loan proceeds for the purpose set forth in the principal contract
and repay the principal and interest within the period set forth in the principal contract. This contract will not become invalid
by reason of the principal contract debtor’s use of loan proceeds in violation of the principal contract.

 

10. The mortgagor agrees
that upon the expiration of the debt performance period under any principal contract, if the debts to the mortgagee remain unpaid,
the mortgagee has the right to auction or sell the collaterals in part or in full at discount and receive compensation in the first
place out of the proceeds therefrom and apply the remaining proceeds towards early repayment of the unexpired debts guaranteed
hereby or deposit the same with a third party agreed upon by the mortgagor and the mortgagee. The signature or seal of the mortgagor
on this contract shall be deemed the mutual consent of the mortgagor and the mortgagee to disposal of the collaterals and prioritized
compensation, without further consultations.

 

    - 3 - 

     

    

 

Section 5 Effect of
mortgage

 

The effect of mortgage
shall extend to the appurtenances, accessory rights, right of subrogation, attachments, mixtures, processed things and fruits to
and from the collaterals, among others.

 

Section 6. Custody of
collaterals

 

1. The collaterals hereunder
shall be kept in the custody of the mortgagor and the mortgagor has the obligation to properly manage the collaterals. The mortgagee
has the right to supervise and check the management of the collaterals.

 

2. During the term of
this contract, without the prior written consent of the mortgagee, the mortgagor may not gift, transfer, lease, sell or otherwise
dispose of the collaterals. The proceeds from transfer, leasing or sale of the collaterals by the mortgagor with the prior written
consent of the mortgagee shall be applied towards early repayment of the debts of the debtor under the principal contract guaranteed
or be deposited with a third party agreed upon by the mortgagor and the mortgagee.

 

3. During the term of
this contract, if any of collaterals are destroyed, lost or expropriated, the mortgagor shall take immediate and effective measures
to prevent further losses while notifying the mortgagee promptly. The insurance indemnities, indemnities and compensation received
by the mortgagor as a result thereof shall be first applied towards repayment of the debts under the principal contract.

 

4. If the collaterals
decrease in value during the term of this contract, the mortgagee has the right to require the mortgagor to restore the value of
the collaterals or provide another guarantee to the satisfaction of the mortgagee; If the mortgagor refuses to do so, the mortgagee
has the right to declare the debts under the principal contract immediately due and repayable and to require the debtor to perform
its debts or exercise the mortgage in advance.

 

    - 4 - 

     

    

 

Section 7 Insurance
of collaterals

 

1. The mortgagor shall
procure sufficient insurance for the collaterals as required by the mortgagee, naming the mortgagee the primary beneficiary.

 

2. The mortgagor shall
deliver the original of the insurance policy for the collaterals into the custody of the mortgagee.

 

3. During the term of
this contract, the mortgagor may not interrupt or revoke the insurance policy for any reasons. If the mortgagor interrupts the
insurance coverage during the existence of mortgage, the mortgagee has the right to procure the insurance coverage on behalf of
the mortgagor at the sole costs of the mortgagor. The mortgagee has the right to directly deduct the aforesaid costs from any account
of the mortgagor.

 

4. In case of any insured
accident involving the collaterals, the insurance indemnities shall be first applied towards repayment of the debts and related
fees under the principal contract.

 

Section 8 Mortgage registration

 

The mortgagor shall
complete the mortgage registration formalities with the competent registration authority within 5 days of execution of this contract
and deliver the original copy of the certificate of encumbrances on the collaterals, the mortgage registration document and certificate
of encumbrances into the mortgagee’s custody.

 

Section 9 Realization
of mortgage

 

1. Should the debtor
or the mortgagor violate any of its obligations under the principal contract or this contract, the mortgagee has the right to declare
all debts guaranteed by this contract immediately due and repayable and exercise the mortgage according to law, while the remaining
loan commitment under the principal contract will no longer be valid.

 

2. Upon the expiration
of the debt performance period under any principal contract, if the debts to the mortgagee remain unpaid, the mortgagee has the
right to auction or sell the collaterals at discount according to law and receive compensation in the first place out of the proceeds
therefrom and apply the remaining proceeds towards early repayment of the unexpired debts guaranteed hereby or deposit the same
with a third party agreed upon by the mortgagor and the mortgagee. The aforesaid “expiration” includes the circumstance
where the mortgagee declares any debts under the principal contract immediately due and repayable according to the provisions of
the national laws and regulations or the principal contract. If the mortgagor interferes with the efforts of the mortgagee to dispose
of the collaterals, the mortgagee will directly apply to the people’s court for auction or realization of the collaterals.

 

    - 5 - 

     

    

 

3. Where there are more
than two mortgagors, the mortgagee has the right to dispose of the collaterals of any one or each mortgagor while exercising the
mortgage.

 

Section 10 Liabilities
for default

 

1. Upon execution of
this contract, the mortgagee and the mortgagor shall perform respective obligations hereunder, and either party that fails to do
so or otherwise defaults shall assume liabilities for default and compensate the other party for any and all losses so incurred.

 

2. In any of the following
cases, the mortgagor shall compensate the mortgagee for any and all losses so incurred:

 

(1) The mortgagor conceals
any fact that the collaterals are co-owned, disputed with respect to ownership, judicially attached, regulated or attached, leased,
have payable taxes in arrears or have any hidden defects.

 

(2) The mortgagor disposes
of the collaterals without the prior written consent of the mortgagee.

 

(3) The mortgagor otherwise
violates any of provisions of this contract or acts in any manner that adversely affects the realization of mortgage by the mortgagee.

 

Section 11 Costs and
expenses

 

Any and all related
costs and expenses incurred hereunder (including but not limited to notarization fee, insurance cost, verification cost, appraisal
cost, auction fee, registration fee, transfer fee, custody fee, escrow expense and legal costs) shall be borne by the borrower.

 

Section 12 Dispute resolution

 

Any dispute arising
out of performance of this contract may be resolved by both parties through friendly consultations or the following manner (1):

 

    - 6 - 

     

    

 

1. Litigation. To be
governed by the people’s court having competent jurisdiction over the place of the mortgagee.

 

2. Arbitration. Submit
to _______________(full name of arbitral authority) for arbitration according to its arbitration rules then in effect.

 

During the period of
legal action or arbitration, all terms of this contract shall continue in full force and effect except for those under dispute.

 

Section 13 Miscellaneous

	 
	 

 

Section 14 Execution

 

This contract will take
effect upon being signed and sealed by both parties. Where required to be registered according to law, the mortgage shall become
valid upon registration.

 

Section 15 Any notice
or communication given by the mortgagee to the debtor/mortgagor with respect to this contract shall be given to the address for
notice as indicated herein. If the debtor/mortgagor changes its address for notice, it shall promptly notify the mortgagee in writing,
otherwise any notice given by the creditor shall be deemed duly served after a certain reasonable period.

 

Section 16. This contract
is made in four copies, one copy for each party and one copy for respective registration authority, each copy bearing the same
legal effect.

 

Section 17 Special statement

 

    - 7 - 

     

    

 

The mortgagee has reminded
the mortgagor to fully and accurately understand all printed terms of this contract, and made explanations as required by the mortgagor.
All parties have the same understanding of the meanings of all terms of this contract.

 

	Mortgagee	 	Debtor
	Mortgagee:	(corporate seal)	 	 
	CEO:	(signature/seal)	 	

  
	 	 	 	Li jinguo
	 	 	Legal representative (CEO):	
	 	 	(signature/seal)
	Or authorized agent:	(signature/seal)	 	Or authorized agent:	(signature/seal)
	 	 	ID No: 320382196811282551
	 	Jiangsu Pizhou Rural Commercial Bank Co., Ltd(seal)	 	Postal address:
	Zhang Jun	 	Tel: 13605222333

  

	Mortgagor (1)	 	Mortgagor (2)
	 	 	 
	Mortgagor:	(corporate seal)	 	Mortgagor:	(corporate seal)
	 	 	 	 	 
	Jiangsu Baikang Biological 

	 	
	Pharmaceutical Co.,
Ltd(seal)	 	Legal representative (CEO): 
	Li jinguo	 	(signature/seal)
			 	
	Legal representative 	 	 	Or authorized agent:	(signature/seal)

 

	 	 	

                                             ID No:

                                             Postal address:

                                             Tel:  
	
	Tel: 13605222333	 	 	 

  

	 	 	Date of signing: November 8, 2017
	 	 	Place of signing:	 

 

    - 8 -

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