Document:

Exhibit 10.1

 

ReTo
Technology Development Co., Ltd.

 

And

 

Xiaoping
Li

 

Jing
Peng

 

About

 

Hainan
REIT Mingde Investment Holding Co., Ltd.

 

Equity
Purchase Agreement

 

December
27th, 2021

 

     

     

    

 

Equity Purchase
Agreement

 

This equity purchase agreement (hereinafter referred
to as “this agreement”) was signed by the following parties in Haikou, Hainan Province on December 27th, 2021 (hereinafter referred
to as “signing date”):

 

Party A (transferee): REIT Technology
Development Co., Ltd., unified social credit code: 91460100MAA90CUX78, registered address: 22nd Floor, Xinheng Building, 121-8 Binhai
Avenue, Haikou, Hainan Province, legal representative: Li Hengfang.

 

Party B: Xiaoping Li, ID number:
                   , address:
                   ; Tel:

 

Party C: Jing Peng, ID number:
                    , address:
                   
; Tel:

 

(Party B and Party C are collectively referred
to as the “Transferors”)

 

Party D: Hainan REIT Mingde Investment Holding
Co., Ltd., unified social credit code: 91460000MAA928LE45, registered address: Block C, 6th Floor, Changhai Business Building, 52-6
Middle Haixiu Road, Datong Street, Longhua District, Haikou, Hainan Province, legal representative: Xiaoping Li

 

Party E 1:

 

Hainan Yile IoT Technology Co., Ltd., unified
social credit code: 91460000395171479L, registered address: Block B, 3 / F, Changhai Business Building, No. 52-6, Middle Haixiu Road,
Longhua District, Haikou, Hainan Province, legal representative: Xiaoping Li;

 

Party E 2:

 

Yangpu Fangyuyuan United Logistics Co., Ltd
unified social credit code: 91460000MAA97P9QXH, registered address: Intersection of Huapu Road and Hengqi Road, Xinyingwan District, Yangpu
Economic Development Zone, Danzhou , Hainan Province, legal representative: Xiaoping Li;

 

(Party E (1) and (2) above are collectively referred
to as “subsidiaries”, and Party D and Party E (1) and (2) are collectively referred to as “Mingde Holding Group”)

 

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Whereas:

 

		1,	Hainan
REIT Mingde Investment Holding Co., Ltd. (hereinafter referred to as the “target company”) was established on September 16th,
2021, with a unified social credit code of 91460000MAA928LE45, registered capital of 10 million yuan, and registered address of Block
C, 6th Floor, Changhai Business Building, 52-6 Middle Haixiu Road, Datong Street, Longhua District, Haikou, Hainan Province. As of the
signing date, Party B and Party C are shareholders of the target company. Party B holds 99% equity of the target company and Party C
holds 1% equity of the target company.

 

		2,	When
this agreement is signed, the target company holds 100% of equity interest of Yangpu Fangyuyuan United Logistics Co., Ltd and 61.548%
of the equity interest of Hainan Yile IoT Technology Co., Ltd (“Yile IoT”). Yile IoT holds 90% of the equity interest of Hainan
Yile Internet of Vehicles Technology Research Institute Co., Ltd, 85% of the equity interest of Shanxi Global Travel Co., Ltd., 45% the
equity interest of Hainan Beiqi Yinjian Yile Smart Travel Technology Co., Ltd., which, in turn, holds 100% of the equity interest of
Beiqi Yinjian Yile (Haikou) Smart Travel Technology Co., Ltd.

 

According to the
provisions of the Civil Code of the People’s Republic of China and relevant laws and regulations, on the basis of equality, mutual benefit,
honesty and credit, the parties to the agreement have reached the following agreement on equity transfer for mutual compliance:

 

I. Definition

 

		1.1	Unless otherwise specified or the context otherwise requires,
the following words shall have the following meanings:

 

	Target Company	Hainan REIT Mingde Investment Holding Co., Ltd.
	Acquisition Target	
    100% of the equity interest of the target company
    held by Party B and Party C ;

    and the61.548% of the equity interest of Yile
    IoT and 100% of the equity interest of Fang Fangyuyuan held by the Target Company; And the 90% of the equity interest of Hainan Yile Internet
    of Vehicles Technology Research Institute Co., Ltd, the 85% of the equity interest of Shanxi Global Travel Co., Ltd. and the 45% of the
    equity interest of Hainan Beiqi Yinjian Yile Smart Travel Technology Co., Ltd. held by Yile IoT. ; and the 100% of the equity interest
    of Beiqi Yinjian Yile (Haikou) Smart Travel Technology Co., Ltd. held by Hainan Beiqi Yinjian Yile Smart Travel Technology Co., Ltd.

	Transaction Consideration	Refers to the consideration of Party A’s acquisition of the acquisition target determined by all parties through negotiation, but subject to the adjustment agreed in this agreement.
	Yile IoT	Refers to Hainan Yile IoT Technology Co., Ltd
	Fangyuyuan	Refers to Yangpu Fangyuyuan United Logistics Co., Ltd
	Debt	Refers to all kinds of debts that the target company should bear before the closing date, including but not limited to bank loans, external loans, external guarantees, various payables, government taxes and fees, criminal or administrative penalties, tort compensation and/or any other obligation to pay or return money (whether related to interest, principal or others) and/or not to pay money (such as providing goods or services, etc.) arising from legal or contractual relations, including existing debts and contingent debts.
	Force Majeure	Refers to the events that are unforeseeable or unpredictable due to earthquakes, typhoons, floods, fires, wars, epidemic situations, government compulsory actions, legal changes and other unavoidable consequences.
	CNY(RMB)	Unless otherwise specified in this agreement, the amount involved in this agreement refers to the legal currency of China, RMB.
	Settlement Day	The date when the registration of industrial and commercial change of equity transfer is completed and the target company obtains a new business license.

 

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II. Scope of Subject Matter of Transfer

 

		2.1	The parties agree that the scope of acquisition targets in
this agreement is: 100% of theequity of the target company, including 99% of the equity interest of the target company held by Party
B and 1% of the equity interest of the target company held by Party C; As well as 61.548% of the equity interest of Yile IoT and 100%
of the equity interest of Fangyuyuan held by the target company; And 90% of the equity interest of Hainan Yile Internet of Vehicles Technology
Research Institute Co., Ltd. held by Yile IoT, 85% of the equity interest of Shanxi Global Travel Co., Ltd., 45% of the equity interest
of Hainan Beiqi Yinjian Yile Smart Travel Technology Co., Ltd., and 100% of the equity interest of Beiqi Yinjian Yile (Haikou) Smart
Travel Technology Co., Ltd. held by Hainan Beiqi Yinjian Yile Smart Travel Technology Co., Ltd.

 

		2.2	All parties agree that Party B will transfer 99% of the equity
interest of the target company to Party A, and Party C will transfer 1% of the equity interest of the target company to Party A.

 

		2.3	After the signing of this agreement, Party B shall be responsible
for and urge the target company to go through the formalities of industrial and commercial and tax change registration for this equity
transfer, and the transferee shall fully cooperate with it. The change registration formalities shall be submitted and completed before
December 31, 2021 (the delay time due to the industrial and commercial registration department is not counted).

 

III. Equity Transfer Price and Payment

 

		3.1	All parties unanimously agree that the consideration of Party
A’s acquisition target is RMB 10 million (in words: RMB 10 million only) (“equity transfer consideration”).

 

See Annex I for
the balance sheet of Mingde Holding Group as of October 30, 2021.

 

		3.2	All parties agree that the consideration for equity transfer
should be paid to the Transferors in cash or cash equivalent agreed to by all parties within one month from the date of signing this agreement.
Among them, Party A shall pay 9.9 million yuan or cash equivalent to Party B; Pay 100,000 yuan or cash equivalent to Party C.

 

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		3.3	All parties confirm that the final purchase price under this
agreement is the price including tax, and the taxes and fees that should be borne by the Transferors in this transaction shall be borne
by the Transferors according to law; the taxes and fees borne by the transferee shall be borne by the transferee according to law.

 

		3.4	Party A promises that Party B will enter the board of directors
of the parent company of the affiliated group and serve as the executive vice president of the parent company of the affiliated group.
After the completion of this transaction, Party A will start to follow the compliance procedures of listed companies.

 

		3.5	If Party A fails to meet the commitment in Article 3.4, Party
B has the right to implement it according to Article 7.3 of this agreement.

 

IV.
Prerequisite

 

		4.1	The payment of the equity transfer price mentioned in Article
3.2 is based on the premise that the following conditions are met or abandoned:

 

		4.1.1	Party A’s authority has passed effective resolutions to approve
the signing, delivery and performance of this agreement and the related matters involved in the conversion of this agreement.

 

		4.1.2	The equity interest of the target company is not set with
any pledge, mortgage, guarantee, seizure, preservation and other third-party rights, or is recognized as a right restriction by the relevant
government departments, and there is no government expropriation, requisition, recovery, punishment, fines, etc.

 

		4.1.3	Party A has completed the financial and legal adjustment
before delivery, and confirmed that all delivery conditions have been met, and there is no significant adverse impact that may lead to
the failure of the transaction; Besides, the book status of the target company reflected in the pre-delivery audit report completed by
the financial department has been adjusted to a state recognized by Party A, unless otherwise agreed in writing by both parties.

 

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		4.1.4	Party B has handed over or is handing over all documents
of the target company to Party A, including but not limited to all seals, property rights certificates (if any), documents and materials,
accounting books, etc.

 

		4.1.5	The external investment and shareholding of Mingde Holding
Group (i.e. the shareholding mentioned in Clause 2 of this Agreement) has not changed.

 

		4.2	Party A may exempt all or part of the transaction conditions
mentioned in Article 4.1 of this agreement, except for the matters that cannot be exempted according to relevant laws. If Party A chooses
to give up any trading conditions, the trading conditions will automatically be transformed into the obligations of relevant parties
after delivery, unless otherwise agreed in writing by both parties.

 

V. Transition period

 

		5.1	The transition period is from the signing of this agreement
by both parties to the completion of registration of acquisition change. During the transition period, unless otherwise expressly agreed
in this agreement or with the prior written consent of Party A, Party B shall ensure that:

 

		5.1.1	Mingde Holding Group shall take all reasonable procedures
to maintain and protect its assets, and ensure that the asset value of the target company will not be significantly impaired;

 

		5.1.2	Party B, Mingde Holding Group and/or any of its related parties
do not take, approve or facilitate any actions or omissions that constitute or cause serious violations of the statements and guarantees
under this agreement;

 

		5.1.3	There is no fact or thing that may constitute a material
breach of any guarantee (whether it existed before the signing date of this agreement or occurred before the delivery after the signing
of this agreement);

 

		5.1.4	Unless Party A agrees in advance, the companies of Mingde
Holding Group will not announce the distribution, not pay or prepare to pay dividends or other profit distribution (if any);

 

		5.1.5	Unless Party A agrees in advance, Mingde Holding Group will
not increase or decrease capital or agree to increase or decrease capital or accept or provide loans, except for the purpose of performing
transactions under this agreement;

 

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		5.1.6	Except as agreed in this agreement, or in order to maintain
the related business transactions involved in normal business activities or because of the need of the target company to clear up the
creditor’s rights and debts, there is no related transaction between Mingde Holding Group and Party B and/or any of its related parties,
and there is no loan between Mingde Holding Group and its related parties. Nor does Mingde Holding Group provide any guarantee to Party
B or any of its related parties;

 

		5.1.7	Unless Party A agrees in advance, Mingde Holding Group shall
not sign or conduct any agreements, contracts, arrangements, transactions (whether legally binding or not) or make any promises, constraints
or similar arrangements, including but not limited to sign any contracts or make similar arrangements (or make bids or bids that may
lead to such contracts or obligations) concerning investment in fixed assets, capital commitments, capital expenditures, acquisitions,
transfers, investments, etc., unless these matters are beneficial to Mingde Holding Group or Party A;

 

		5.1.8	Unless Party A agrees in advance, Mingde Holding Group shall
not sign a loan or mortgage contract or guarantee contract with any entity, or make any arrangement of the same nature, unless such matters
are beneficial to the target company or Party A;

 

		5.1.9	Mingde Holding Group shall not acquire or sell any assets,
or agree to acquire or sell any assets, regardless of normal and customary business; Shall not set any right burden on assets, shares/equity;

 

		5.1.10	Except for the arrangements already agreed in this agreement,
Mingde Holding Group shall not engage in any activities that will reduce the assets and increase the liabilities of the target company
as of the closing date, or other activities that will increase the costs and expenses of the target company;

 

		5.1.11	Unless otherwise agreed in this agreement or reserved with
the consent of Party A, the bank account information of each company of Mingde Holding Group shall not be modified or the bank account
of the target company shall be opened/closed;

 

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		5.1.12	Each company of Mingde Holding Group, Party B or any of its
related parties shall not take any action inconsistent with the provisions of this agreement or the expected transaction results of this
agreement;

 

		5.1.13	Party A has the right to send management personnel and financial
personnel to enter the companies of Mingde Holding Group;

 

		5.1.14	Party A has the right to participate in the management of
the official seal of each company of Mingde Holding Group;

 

		5.1.15	Party A has the right to interview the employees of Mingde
Holding Group Company.

 

		5.2	If Party B violates the agreement of this article and causes
the net asset value of the target company to decrease on the closing date, Party A has the right to adjust the equity transfer price,
and Party A has the right to directly deduct the amount of the decrease in net asset value from the payables to Party B, and Party B
shall make up the shortfall.

 

		5.3	During the transition period, Party B shall be responsible
for the preparation of financial statements and tax returns of the companies of Mingde Holding Group before the handover date, and shall
provide the following information to Party A before 15th of each month:

 

		5.3.1	Monthly financial statements of companies of Mingde Holding
Group for the last month;

 

		5.3.2	The tax returns and tax payment vouchers (if any) of each
company of Mingde Holding Group for the last month.

 

 If Party A has doubts about the above information or has corresponding evidence, Party B shall provide relevant documents such as account books and records required by Party A within 3 working days after receiving the notice in advance, and Party A has the right to view and copy all relevant documents such as account books and records of various companies of Mingde Holding Group during normal working hours. And has the right to ask Party B to correct the treatment behaviors that do not conform to China’s accounting policies or may cause the target company to bear financial and tax risks.

 

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VI. Statements and Warranties

 

		6.1	The parties to this agreement promise and guarantee each other
as follows on the signing date and closing date of this agreement:

 

		6.1.1	Each party guarantees that it has complete legal qualification
to sign this agreement and perform all obligations stipulated in this agreement. After signing this agreement, it is legal, effective,
binding and enforceable for all parties, and all parties will implement this agreement in good faith;

 

		6.1.2	The signing and performance of this agreement by each party
does not violate any applicable laws, regulations, normative documents or the permission or approval of government agencies, nor does
it violate any binding organization documents or any contracts or agreements signed with any third party (or has obtained the consent
or approval of the third party or can coordinate matters);

 

		6.1.3	After this agreement is signed by all parties, it constitutes
a legal, effective and binding obligation for them; It will take all necessary actions to ensure the full implementation of the terms
of this agreement and avoid any behavior inconsistent with the terms of this agreement;

 

		6.1.4	Each party mutually guarantees that all materials provided
to the other party for the purpose of this transaction and confirmed by each party are true and complete in major respects, and promises
to keep confidential the business secrets of the other party, otherwise it will be liable for the related losses suffered by the other
party;

 

		6.1.5	The performance of this agreement by each party is a commercial
activity, and all the guarantees and commitments made under this agreement are continuous and irrevocable, and are not affected by any
disputes, legal procedures or other factors. The heirs and agents of each party to this agreement shall have continuous obligations and
responsibilities for the guarantees and commitments made by each party to this agreement and the obligations to be performed according
to this agreement;

 

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		6.1.6	From the date of signing the equity transfer agreement, Party
A will become the shareholder of the target company, and the voting rights, nomination rights, dividend distribution rights and surplus
property distribution rights enjoyed by Party B and Party C based on this part of equity, as well as the rights and related obligations
given to shareholders by other laws and articles of association, shall be enjoyed and undertaken by Party A.

 

		6.1.7	Guarantee that in the process of performing this agreement,
especially in meeting or realizing the preconditions, industrial and commercial changes and other delivery procedures, the parties should
fully negotiate with each other, cooperate closely and actively support each other, and provide all convenient conditions to facilitate
the completion of this equity transaction.

 

		6.2	Party A makes the following statements and guarantees to
Party B:

 

		6.2.1	Party A will handle or assist Party B to jointly handle matters
related to the transfer of the subject equity in accordance with the law and this agreement.

 

		6.2.2	Commit to pay equity transfer payment and start relevant
cooperation procedures on time according to this agreement.

 

		6.3	Party B makes the following statements and guarantees to
Party A:

 

		6.3.1	Party B has no false statement or misleading explanation
in any material aspect in this agreement or other relevant agreements, certificates or other documents;

 

		6.3.2	There is no undeclared (including declaration on behalf of
the company) and paid (including withholding) enterprise income tax or other taxes payable in any equity transfer or equity structure
change of the companies of Mingde Holding Group during the duration before the closing date;

 

		6.3.3	Before the closing date, the companies of Mingde Holding
Group have no other undisclosed or potential major violations of laws or regulations;

 

		6.3.4	Before the closing date, there are no claims, labor disputes
or other infringement or liability disputes put forward by any employees (including full-time employees and part-time employees who used
to work, whether or not a written labor contract has been signed) of various companies of Mingde Holding Group, and those who work in
various companies of Mingde Holding Group through labor dispatch and service outsourcing;

 

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		6.3.5	Before the closing date, there is no dispute with a third
party caused by any actions or omissions of Party B or companies of Mingde Holding Group that have not been disclosed to Party A;

 

		6.4	For the creditor’s rights and debts existing in the companies
of Mingde Holding Group before the closing date, or any liability for breach of contract caused by operation and management, and the
government punishment caused by improper operation, whether these debts, obligations and responsibilities are incurred before or after
the closing date, they should be borne by the companies of Mingde Holding Group, and those involving Party B’s liability shall be borne
by Party B.

 

		6.5	All the responsibilities arising from the underpayment or
unpaid social insurance and housing accumulation fund of employees of various companies of Mingde Holding Group shall be borne by Mingde
Holding Group.

 

		6.6	Party B further promises to Party A that during the service
period of not less than three years after the completion of this equity transaction, without Party A’s prior written consent, Party B
will not be directly or indirectly employed by any competitor (including but not limited to the directors and senior managers as competitors)
in its own name or as an agent; invest in competitors in any form (including but not limited to become the owner, shareholder, actual
controller of the competitor or otherwise own its rights and interests, except for holding the shares of listed companies that do not
exceed 5% of the total shares of listed companies purchased in the open capital market), or set up any company or other commercial organization
that competes with the main business of the target company (including its subsidiaries in which it holds shares and shares, the same
below);Conduct any business dealings with the competitor that are related to the main business of the target company or harm the interests
of the target company (including but not limited to becoming the business agent, supplier or distributor of the competitor); Provide
any form of business-related consultation or advice to competitors; Sign any agreement, make any similar commitment or take any other
similar arrangement that may restrict or damage the target company’s existing business; Soliciting business from customers, agents, suppliers
and/or independent contractors of the target company for the benefit of competitors of the target company, or instigate the customers,
agents, suppliers and/or independent contractors of the target company to terminate the cooperation with the target company. Party B
has the obligation to ensure that its family members (i.e. parents, siblings, spouses and children, the same below) and any entity directly
or indirectly controlled by the aforementioned personnel abide by the above provisions of this article.

 

		6.7	If the target company is required to pay the purchase price
of the 61.5480% of the equity interest of Yile IoT, Party B shall bear this part of the money.

 

VII.
Breach of Contract and Compensation

 

		7.1	If either party of this agreement violates the agreement
and causes losses to the observant party, the observant party has the right to ask the defaulting party to bear the liability for breach
of contract. If losses are caused to the observant party, the observant party has the right to ask the defaulting party to make compensation
according to the actual losses.

 

		7.2	If Party B fails to complete the registration or filing of
the change of the target company within the time specified in Article 2.3 of this agreement, or if Party A agrees to give Party B a grace
period but Party B still fails to complete it, Party A has the right to ask Party B to pay the overdue penalty according to one in ten
thousand of the total equity transfer price (up to 0.02% of the equity transfer amount) for each day overdue; if overdue for 20 working
days, Party A has the right to terminate this agreement. However, if Party B has submitted the application on schedule, Party B will
not be responsible for the delay caused by reasons beyond Party B’s control such as government approval or pandemic situation.

 

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		7.3	Where Party A fails to promise to perform its obligations
in accordance with clauses 3.2 and 3.4 of this agreement, or both parties fail to sign a supplementary agreement on this promise separately,
or Party A is granted a grace period but still fails to complete it, Party B has the right to ask Party A to pay the overdue penalty
according to one in ten thousand of the total equity transfer price (the maximum amount cannot exceed 0.02% of the equity transfer amount)
for each day overdue; after receiving the written notice of extension from Party B, if it is overdue for 20 working days, Party B has
the right to terminate this agreement.

 

		7.4	If Party B violates the agreement of the transitional period
in Article 5, resulting in the failure to meet the preconditions of the transaction or the impairment or possible impairment of the value
of the acquisition target, Party A has the right to adjust the equity transfer price or give Party B a grace period. If Party A finds
that the target company has major defects that affect this transaction during the transition period or that Party B’s behavior will cause
Party A or the target company after Party A’s acquisition to bear major risks, Party A has the right to unilaterally terminate this agreement,
and at the same time, ask Party B to compensate for the losses.

 

		7.5	The losses referred to in this agreement include, but are
not limited to, the compensation, liquidated damages and fines paid by the observant party to the third party due to the reasons of the
breaching party, as well as the investigation fees, attorney fees, audit fees, litigation fees, preservation fees, appraisal fees, notarial
fees, reasonable transportation fees, travel expenses, etc. paid for safeguarding its own legitimate rights and interests. And the due
diligence fee paid by Party A to the intermediary agency for acquiring the target company.

 

VIII.
Confidentiality

 

		8.1	The confidential information referred to in this agreement
refers to all oral or written information related to or having any connection with the business operation, business strategy, business
plan, investment plan, sales, customers, marketing, technology, research and development, finance or other matters of either party or
the target company as well as oral or written information related to the transaction structure, transaction mode and transaction price
related to this transaction, including but not limited to all reports, records and all copies (including electronic copies), duplicates,
etc.

 

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		8.2	The party receiving the confidential information (hereinafter
referred to as the “receiver”) shall keep the received information confidential, and shall not use the information for any
purpose other than the purpose of this agreement, and shall not disclose the information to any third party. Except for the following
situations:

 

		8.2.1	The information has been made public through no fault of
the receiver or its representative;

 

		8.2.2 	The information that the receiving party legitimately and
legally obtains from a third party, and the third party does not have the obligation of confidentiality or use restrictions when obtaining
the information;

 

		8.2.3 	Before receiving information from the disclosing party, the
receiving party has legally obtained relevant information.

 

		8.2.4 	The judicial organ or administrative organ requires disclosure.

 

		8.3	The receiving party may disclose confidential information
to directors, senior managers, lawyers or accountants and shareholders of the company who need to know relevant information for the purpose
agreed in this contract. And the receiving party shall ensure that such personnel are aware of and abide by the confidentiality obligations
mentioned in this clause.

 

IX. Taxes and Other Costs

 

Unless otherwise stipulated
in this agreement, all parties will fulfill their respective taxes related to this equity transfer according to the provisions of Chinese
laws, regulations and normative documents. In addition, the expenses incurred in the negotiation, preparation and performance of this
agreement shall also be borne by each party according to the relevant Chinese laws, regulations and normative documents.

 

Unless otherwise agreed,
the expenses and expenses for engaging an intermediary agency shall be borne and paid by the engaging party.

 

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X. Others

 

		10.1	Any notice under this agreement shall be sent in writing by
express delivery or e-mail to the following address or e-mail address of the recipient. A notice sent in this way shall be deemed to
have been received in the following cases:

 

		10.1.1 	If sent by e-mail, twelve (12) hours after sending;

 

		10.1.2 	If it is sent by registered mail or express delivery, three
(3) working days after posting.

 

Contact information
and address of Party A:

Contact: Hengfang
Li

Address: 22nd Floor,
Xinheng Building, Longhua District, Haikou, Hainan Province

Tel:

E-mail: lhf@reit.cc

 

Contact information
and address of Party B:

Contact: Xiaoping
Li

Tel:

Address: 22nd Floor,
Xinheng Building, Longhua District, Haikou, Hainan Province

Email address: lixp@icarplus.net

 

Contact information
and address of Party C:

Contact: Jing Peng

Tel:

Address: 22nd Floor,
Xinheng Building, Longhua District, Haikou, Hainan Province

Email: pengj@icarplus.net

 

Contact information
and address of Party D:

Contact: Xiaoping
Li

Tel:

Address: 22nd Floor,
Xinheng Building, Longhua District, Haikou, Hainan Province

Email: lixp@icarplu.net

 

Contact information
and address of Party E:

Party E 1:

Contact: Xiaoping
Li

Tel:

Address: 22nd Floor,
Xinheng Building, Longhua District, Haikou, Hainan Province

Email :lixp@icarplu.net

Party E 2:

 

Contact: Xiaoping
Li

Tel:

Address: 22nd Floor,
Xinheng Building, Longhua District, Haikou, Hainan Province

Email :lixp@icarplu.net

 

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All the notices sent
by each party to other parties on matters related to this contract through the above contact information shall be deemed as effective
delivery and notification to other parties, regardless of whether other parties actually check it. The above-mentioned mailing address
is also regarded as a valid judicial address.

 

If one party changes
its notice or mailing address, it shall notify the other party in writing within three days from the date of change; Otherwise, the non-notifying
party shall bear the related responsibilities caused thereby.

 

		10.2	Unless otherwise permitted by this agreement, modification,
change, abandonment, revocation or termination of this agreement and its terms must be signed by all parties in writing.

 

		10.3	If the letter of intent or other agreements related to this
share transfer signed before the effective date of this agreement conflicts with this agreement, Party A and Party B shall refer to the
important clauses in other agreements, reach an agreement, and sign a supplementary agreement separately. If the parties fail to reach
an agreement, the other agreements can be used as an important basis for litigation.

 

		10.4	If any clause of this agreement is deemed invalid or unenforceable,
the invalid or unenforceable part of these clauses shall lose its effectiveness and shall be deemed not to be included in this agreement,
but the remaining clauses of this agreement are still valid. In this case, each party shall make reasonable efforts to replace invalid
or unenforceable clauses with effective and enforceable alternative clauses. The effectiveness of the substitute clause should be as
close as possible to the original effectiveness of the invalid or unenforceable clause.

 

		10.5	When this agreement cannot be performed or cannot be performed
on time due to the influence of force majeure, the party that encounters the force majeure event mentioned above shall immediately notify
the other party, and shall provide the specific circumstances of the force majeure event and valid documents proving the reasons why
this agreement cannot be performed or partially cannot be performed, or the performance needs to be postponed within 15 days after the
occurrence of the event. According to the degree of influence of force majeure events on the performance of this agreement, the parties
shall negotiate whether to terminate this agreement, or partially perform or postpone the performance of this agreement. If this agreement
cannot be performed due to force majeure, the losses and expenses incurred therefrom shall be borne by each party.

 

		10.6	Each party agrees that, when handling the equity transfer
procedures of the target company, according to the requirements of the administrative department for industry and commerce, it is necessary
to sign another equity transfer agreement that meets its requirements, and all parties shall cooperate to sign it. In case of any conflict
between these agreements and the terms of this agreement, this agreement shall prevail.

 

		10.7	This Agreement shall be governed by and interpreted in accordance
with the laws of the People’s Republic of China.

 

		10.8	All disputes arising from or related to the interpretation
and performance of this agreement shall be settled by all parties through friendly negotiation. If negotiation fails, either party can
submit the dispute to the court where the target company is located for litigation.

 

		10.9	This agreement shall come into force as of the date when all
parties sign it.

 

		10.10	The signed text of this agreement is seven originals, one
for each party to the transaction, and the rest for approval by government departments, all of which have the same legal effect.

 

    15

     

    

 

(There is no text below this page, which is the signature
page of the Equity Purchase Agreement of Hainan REIT Mingde Investment Holding Co., Ltd.)

 

	Party A: REIT Technology Development Co., Ltd. (Seal)	 
	 	 
	Signature of legal representative: 	 /s/ Hengfang Li	 
	Date: December 27, 2021	 
	 	 
	Party B: Xiaoping
    Li	 
	 	 
	Signature: /s/ Xiaoping Li	 
	Date: December 27, 2021	 
	 	 
	Party C: Jing
    Peng	 
	 	 
	Signature: /s/ Jing Peng	 
	Date: December 27, 2021	 
	 	 
	Party D: Hainan REIT Mingde Investment Holding Co., Ltd. (Seal) 	 
	 	 
	Signature of legal
    representative: /s/ Xiaoping Li	 
	Date: December 27, 2021	 
	 	 
	Party E 1: Hainan Yile IoT Technology Co., Ltd. (Seal)	 
	 	 
	Signature of legal
    representative: /s/ Xiaoping Li	 
	Date: December 27, 2021	 
	 	 
	Party E 2: Yangpu Fangyuyuan United Logistics Co., Ltd. (Seal)	 
	 	 
	Signature of legal
    representative: /s/ Xiaoping Li	 
	Date: December 27, 2021	 

 

    16

     

    

 

Annex I

 

Balance Sheet of Each Company of Mingde Holding
Group As of

October 30th, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    17

     

    

 

Annex II

 

List of fixed assets to be retained when the
target company is handed over

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    18

     

    

 

Annex III 

 

List of existing bank accounts of companies
in Mingde Holding Group

 

	bank of deposit	bank account	currency	Account type
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    19

     

    

 

Annex IV

 

List of Target Company Handover Documents

 

I. Company Documents Related To The Target
Company

 

		1.	The shareholders’ meeting resolution of the target company
shareholders on agreeing to this transaction;

 

		2.	The legal documents listed in this agreement that both parties
should sign when handling the equity transfer;

 

		3.	The original resolution of the shareholders’ meeting of the
target company approved that (1) all seals of all bank accounts of the target company should be replaced by the written designated person
of the transferee after delivery, and (2) the amendment of the articles of association of the target company proposed by the transferee
will replace the existing articles of association of the target company after delivery.

 

		4.	Business license.

 

		5.	Original articles of association and other organizational
documents of the target company.

 

		6.	The resolutions of the board of directors and shareholders’
meeting of the company over the years.

 

		7.	The original resignation letter (effective on the closing
date) given by the director and manager of the target company in the form approved by the transferee, giving him/her notice of unconditional
resignation as the director and/or manager of the target company, which will take effect immediately and confirm that he/she has no claim
for the target company, unless otherwise provided in this agreement.

 

		8.	All other certificates, documents, account books, records
and seals of the target company shall include:

 

		a.	All seals, stamps/official seals;

 

		b.	All checkbooks, bank instructions and other documents and equipment used to use the bank account of the target
company;

 

		c.	Drawings related to target assets;

 

		d.	Original financial records of the target company (physical and electronic forms, including original vouchers,
accounting vouchers, general ledger and subsidiary ledger, accounting statements), original tax returns and all tax payment vouchers;

 

		e.	All audit reports, capital verification reports, tax verification reports (if any), evaluation reports (if
any) and other reports issued by third-party verification agencies of the target company;

 

		9.	Original of all contracts or agreements signed by the target
company;

 

		10.	Other documents necessary to complete this share conversion
and enable the transferee to acquire the ownership and control of the target company.

 

    20

     

    

 

II. The above documents shall include the following
documents of the target company in particular: 

 

	No.	Data Name	Remarks (unless otherwise specified, all are originals)
	1.	Original and duplicate of business license	 
	2.	Account opening permit, bank account opening information, institution credit code certificate.	 
	3.	Litigation, arbitration and related legal documents related to the company’s objectives	 
	4.	Articles of association and amendments to articles of association over the years	 
	5.	Resolutions of previous shareholders’ meeting	 
	6.	Notice of approval and registration of industrial and commercial change	 
	7.	Capital verification reports of previous contributions	 
	8.	Accounting vouchers of previous contributions	 
	9.	Audit reports of the past years (if any)	 
	10.	Original copies of all contracts of the target company	 
	11.	Official seal, special contract seal and corporate seal of the target company	 
	12.	The company’s reserved bank seal (including special financial seal and private seal)	 
	13.	Special Seal for Invoice of Target Company	 
	14.	Account number, opening bank and account nature of existing bank account	 
	15.	Bank contact, contact address and telephone number	 
	16.	Seal of bank account number (if any)	 
	17.	Bank receipt box card (if any)	 
	18.	Bank statement and balance reconciliation statement	 
	19.	Bank withholding tax power of attorney	 
	20.	Login information of tax declaration and Ukey, etc.	 
	21.	The taxes being implemented (including additional taxes and fees), tax (fee) rate, and reporting time of each tax.	 
	22.	Tax declaration forms and tax payment vouchers over the years	 
	23.	Income tax settlement declaration form, related business report, loss amount confirmation form and tax adjustment details over the years.	 
	24.	Various tax verification reports over the years (if any)	 
	25.	Invoice deduction stub	 
	26.	Contact person, address and telephone number of tax bureau	 
	27.	Invoice book	 
	28.	Invoice type and quantity verification table	 
	29.	Invoice number list, used invoice stub (attached to voucher), unused blank invoice	 
	30.	Tax control equipment	 
	31.	Login name and password of national enterprise credit information publicity system website	 
	32.	Accounting vouchers and original vouchers (from establishment to handover date)	 
	33.	Account balance sheet from the 1st of the month to the closing date of the handover date	 
	34.	General ledger and subsidiary ledger (from establishment to handover date)	 
	35.	Monthly accounting statements from the establishment of the target company to the handover date	 
	36.	Social insurance registration certificate	 
	37.	House lease contract	 

 

 

21Exhibit 10.1

    

     

      

     
      PROMISSORY NOTE

      

      

      Principal Amount: up to $2,000,000          As of December 31, 2021

      

      

      Sculptor Acquisition Corp I, a Cayman Islands exempted company  (“Maker”) promises to pay to the order of Sculptor Acquisition Sponsor I, a Cayman Islands limited liability company, or its
        registered assigns or successors in interest (“Payee”) the principal sum of Two Million Dollars ($2,000,000) or such lesser amount as shall have been advanced by Payee to Maker and shall remain unpaid under this Note on the maturity date in lawful
        money of the United States of America, on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the
        Payee may from time to time designate by written notice in accordance with the provisions of this Note.

       

      1.        

      Principal. The entire unpaid principal balance of this Note shall be repayable on the consummation of the Maker’s merger, share exchange, asset acquisition, share
        purchase, reorganization or similar business combination with one or more businesses or entities (a “Business Combination”). Payee understands that if a Business Combination is not consummated, this Note will not be repaid and all amounts owed
        hereunder will be forgiven except to the extent that the Maker has funds available to it outside of its trust account established in connection with its initial public offering.

       

      2.          

      Interest. No interest shall accrue on the unpaid principal balance of this Note.

      

      

      3.          

      Application of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including
        (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note.

       

      4.          

      Events of Default. The following shall constitute an event of default (“Event of Default”):

       

      (a)          

      Failure to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days following the date when due.

       

      (b)          

      Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable federal or state bankruptcy, insolvency, reorganization, rehabilitation
        or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or the
        making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

       

      (c)          

      Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary case under
        any applicable federal or state bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering
        the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days.

      

      

      
        
          

      

      
      

      

      5.          

      Remedies.

       

      (a)          

      Upon the occurrence of an Event of Default specified in Section 4(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately and payable,
        whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived,
        anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

       

      (b)          

      Upon the occurrence of an Event of Default specified in Sections 4(b) or 4(c) hereof, the unpaid principal balance of, and all other sums payable with regard to, this Note
        shall automatically and immediately become due and payable, in all cases without any action on the part of Payee.

       

      6.          

      Conversion. Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert up to the principal balance of this Note,
        at the option of the Payee, into warrants (“Warrants”) of the Maker at a price of $1.00 per Warrant, each Warrant being identical to the “private placement warrant” (as defined in Maker’s final prospectus in connection with its initial public
        offering (“IPO”)). As promptly after notice by Payee to Maker to convert the principal balance of this Note, which must be made at least 24 hours prior to the consummation of the Business Combination, as reasonably practicable and after Payee’s
        surrender of this Note, Maker shall have issued and delivered to Payee, without any charge to Payee, in book-entry form or a certificate or certificates (issued in the name(s) requested by Payee) for the number of Warrants of Maker issuable upon
        the conversion of this Note.

       

      7.          

      Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice of
        protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property,
        real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and
        Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

       

      8.          

      Unconditional Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note,
        and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by
        Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or
        sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.

       

      9.          

      Notices. Any notice called for hereunder shall be deemed properly given if (i)  sent by certified mail, return receipt requested, (ii) personally delivered, (iii)
        dispatched by any form of private or governmental express mail or delivery service providing receipted delivery, (iv) sent by telefacsimile or (v) sent by e-mail, to the following addresses or to such other address as either party may designate by
        notice in accordance with this Section:

       

      If to Maker:

      

      

      Sculptor Acquisition Corp I

      9 West 57th Street, 39th Floor

      New York, NY 10019

       

      If to Payee:

      

      

      Sculptor Acquisition Sponsor I

      9 West 57th Street, 39th Floor

      New York, NY 10019

      

      

      
        2

        
          

      

      

      

      Notice shall be deemed given on the earlier of (i) actual receipt by the receiving party, (ii) the date shown on a telefacsimile transmission confirmation, (iii) the date on
        which an e-mail transmission was received by the receiving party’s on-line access provider (iv) the date reflected on a signed delivery receipt, or (vi) two (2) Business Days following tender of delivery or dispatch by express mail or delivery
        service.

       

      10.          

      Construction. This Note shall be construed and enforced in accordance with the domestic, internal law, but not the law of conflict of laws, of the State of New York.

       

      11.          

      Severability. Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
        extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
        jurisdiction.

       

      12.          

      Trust Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”) in or to any
        distribution of or from the trust account established in which the proceeds of the IPO conducted by the Maker (including the deferred underwriters discounts and commissions) and the proceeds of the sale of the warrants issued in a private placement
        prior to the consummation of the IPO were deposited, as described in greater detail in the registration statement and prospectus filed with the Securities and Exchange Commission in connection with the IPO, and hereby agrees not to seek recourse,
        reimbursement, payment or satisfaction for any Claim against the trust account for any reason whatsoever.

       

      13.          

      Amendment; Waiver.  Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.

       

      14.          

      Assignment. No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without
        the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void.

      

      

      IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by its Chief Executive Officer as of the day and year first above written.

      

      

      [Remainder of Page Intentionally Left Blank]

      
        3

        
          

      

      	 	
              SCULPTOR ACQUISITION CORP I

            
	 	
               

            
	 	
              By: 

            	
              /s/ Steven Orbuch

            
	 	
              Name: 

            	
              Steven Orbuch

            
	 	
              Title: 

            	
              Chief Executive Officer

            

      

      

      

      

      	
              SCULPTOR ACQUISITION SPONSOR I

            	 	 
	
               

            	 	 
	
              By: 

            	
              /s/ Wayne Cohen

            	 	 	 
	
              Name: 

            	
              Wayne Cohen

            	 	 	 
	
              Title: 

            	
              Authorized Person

            	 	 	 

      

      

      

      

      
        [Signature Page to Promissory Note]

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