Document:

China Construction Bank	Exhibit 10.9

 

RMB
Credit Line Loan Agreement

 

Agreement
No.: H TZ442000000C N ED 201900005

 

Borrower
(Party A): United Time Technology Co., Ltd.

 

Address:
7/F, Block A, Building 5, Software Industry Base, Nanshan District, Shenzhen City

 

Postal
Code: 518000

 

Legal
Representative (Person in Charge): Bao Minfei

 

Fax:/

 

Tel:
0755-86512180

 

Lender
(Party B): Shenzhen Branch of China Construction Bank Corporation

 

Address:
Block A, Rongchao Business Center, No.6003 Yitian Road, Futian District, Shenzhen City

 

Postal
Code: 518026

 

Person
in Charge: Wang Ye

 

Fax:
0755-23828111

 

Tel:
0755-23828888

 

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China
Construction Bank

 

In
view of daily capital turnover and purchase of raw materials, Party A applies to Party B for line loan, and Party B agrees
to provide credit line loan to Party A. According to relevant laws, regulations and rules, Party A and Party B hereby enter into
this agreement (the “Agreement”) through consultation for mutual compliance.

 

Article
1 Credit Line

 

The
credit line provided by Party B to Party A is RMB 15,000,000 (in words: Fifteen Million Yuan).

 

The
term "Credit Line" as used in this Agreement refers to the limit of the principal balance of the working capital loan
provided by Party B to Party A within the valid period of credit line agreed in this Agreement. Party A can recycle the credit
line during the validity period of it. Party A can apply for loan continuously provided that the outstanding principal balance
of the loan under this Agreement of Party A does not exceed the credit line regardless of the load times and the amount of each
loan, however, the sum of the loan amount applied by Party A and the outstanding principal balance of the loan under this Agreement
shall not exceed the credit line.

 

Article
2 Purpose of Loan and Source of Repayment

 

Party
A shall use the loan for daily production and operation turnover.

 

For
the specific purposes of the loan and the source of repayment under this Agreement, please refer to Annex 1 "Basic Information
of the Loan".

 

Article
3 Valid Period of Credit Line

 

The
effective period of the credit line is from April 23, 2019 to April 9, 2020 (hereinafter referred to as "valid period
of credit line"). For a single loan occurring during the valid period of credit line, the expiration date of the performance
period is not subject to the limitation of whether the valid period of credit line expires, however, unless otherwise agreed by
Party B, the expiration date of the performance period of a single loan shall not exceed 6 months after the expiration date of
the valid period of credit line.

 

The
undisbursed credit line will automatically become invalid upon the valid period of credit line expires.

 

Single
loan term refers to the period from the withdrawal date of single loan to the agreed repayment date.

 

Loan
disbursement refers to the behavior of Party B to release the loan to the loan issuing account according to the application of
Party A and the agreement of this Agreement.

 

Article
4 Use of Credit Line

 

I.
During the valid period of credit line, Party A can apply for loans one by one as needed, and both parties shall go through corresponding
procedures. The amount, interest rate, term and purpose of each loan shall be subject to the contents of the withdrawal notice
of the credit line loan.

 

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China Construction Bank

 

II.
If the Guarantee performs the guarantee liabilities under the guarantee Agreement, Party B shall deduct the principal of the credit
line correspondingly according to the principal amount of the guarantee liabilities already performed by the Guarantee.

 

III.
For each application of Party A, its amount shall not be less than /, and its period shall not be shorter than / day or longer
than 12 months.

 

Article
5 Loan Interest Rate, Penalty Interest Rate, Interest-Bearing and Interest Settlement

 

I.
Loan Interest Rate

 

The
loan interest rate of a single loan under this Agreement is the annual interest rate, and which is the following type /:

 

(I)
Fixed interest rate, i.e./%, which will remain unchanged during the loan term;

 

(II)
Fixed interest rate, i.e. the benchmark interest rate on the value date blank (optional "floating up" or "floating
down") /%, which will remain unchanged during the loan term;

 

(III)
Fixed interest rate, i.e. the LPR interest rate blank (optional "plus" or "minus") / base point
(1 basis point = 0.01%, accurate to 0.01 basis point), which will remain unchanged during the loan term;

 

(IV)
Floating interest rate, i.e. the benchmark interest rate on the value date blank  (select "floating up" or "floating
down") /%, and which is adjusted once every/month from the value date to the date when the principal and interest
of this loan are fully paid off according to the benchmark interest rate on the date of interest rate adjustment and the above-mentioned
floating up / down ratio. The interest rate adjustment date is the corresponding date of the value date in the current month of
adjustment. If there is no corresponding date of the value date in the current month, the last day of the current month shall
be the interest rate adjustment date;

 

(V)
Floating interest rate, i.e. the LPR interest rate blank  (optional "plus" or "minus") / base
point (1 basis point = 0.01%, accurate to 0.01 basis point), and which is adjusted once every/month from the value date
to the date when the principal and interest of this loan are fully paid off according to the LPR interest rate of the working
day before the interest rate adjustment date and the above-mentioned plus/minus basis points. The interest rate adjustment date
is the corresponding date of the value date in the current month of adjustment. If there is no corresponding date of the value
date in the current month, the last day of the current month is the interest rate adjustment date.

 

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China Construction Bank

 

II.
Penalty Interest Rate

 

The
penalty interest rate for a single loan under this Agreement shall be determined in accordance with the following provisions:

 

(I)
If Party A fails to use the loan for the purpose of the Agreement, the penalty interest rate shall be 100% higher than the loan
interest rate, if the loan interest rate is adjusted in accordance with the first paragraph of this article, the penalty interest
rate shall be adjusted in accordance with the adjusted loan interest rate and the above-mentioned floating-up range.

 

(II)
The penalty interest rate for overdue loans under this Agreement shall be 50% higher than the loan interest rate. If the
loan interest rate is adjusted in accordance with the first paragraph of this article, the penalty interest rate shall be adjusted
in accordance with the adjusted loan interest rate and the above-mentioned floating-up range.

 

(III)
For loans that are overdue and misappropriated at the same time, the penalty interest and compound interest shall be calculated
based on the more serious one.

 

III.
In the case of a single loan disbursement, both parties may separately agree on the loan interest rate and penalty interest rate
of the loan in the loan withdrawal notice, or choose to apply the loan interest rate and penalty interest rate agreed in this
Agreement, and Party B has the right to refuse to issue the loan on condition that both parties are unable to reach an agreement.

 

IV.
If the loan interest rate or penalty interest rate stipulated in this Article is inconsistent with the agreement on the loan withdrawal
notice, the agreement on the loan withdrawal notice shall prevail.

 

V.
The value date mentioned in this article refers to the date when a single loan is transferred to the loan issuing account (hereinafter
referred to as the "loan issuing account") as stipulated in Article 8 of this Agreement.

 

VI.
The benchmark interest rate and LPR interest rate are explained as follows:

 

(I)
The benchmark interest rate mentioned in this article refers to the loan interest rate of the same grade published and
implemented by the People's Bank of China in the same period; If the People's Bank of China no longer publishes the loan
interest rate of the same grade in the same period, the LPR interest rate will be applied.

 

(II)
The LPR interest rate under this Agreement shall be determined according to the following item blank  :

 

1.
LPR interest rate refers to the one-year RMB loan prime rate of China Construction Bank Co., Ltd. on the working day before the
effective date of this Agreement (CCB LPR) ; thereafter, when the loan interest rate is adjusted according to the aforesaid agreement,
LPR interest rate refers to the one-year RMB loan prime rate of China Construction Bank Co., Ltd. on the working day prior to
the adjustment date.

 

2.
LPR interest rate refers to the one-year RMB loan prime rate of China Construction Bank Co., Ltd. (CCB LPR) on the working day
before the value date of a single loan, thereafter, when the loan interest rate is adjusted according to the aforesaid agreement,
LPR interest rate refers to the one-year RMB loan prime rate of China Construction Bank Co., Ltd. on the working day prior to
the adjustment date.

 

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China Construction Bank 

 

3.
LPR interest rate refers to the one-year RMB loan prime rate published by the National Inter-Bank Funding Center on the working
day before the effective date of this Agreement (market LPR); thereafter, when the loan interest rate is adjusted according to
the aforesaid agreement, LPR interest rate refers to the one-year RMB loan prime rate published by the National Inter-Bank Funding
Center on the working day prior to the adjustment date.

 

4.
LPR interest rate refers to the one-year RMB loan prime rate announced by the National Inter-Bank Funding Center on the working
day before the value date of a single loan (market LPR) ;thereafter, when the loan interest rate is adjusted according to the
aforesaid agreement, LPR interest rate refers to the one-year RMB loan prime rate published by the National Inter-Bank Funding
Center on the working day prior to the adjustment date.

 

VII.
The loan interest shall be calculated from the date when the loan is transferred to the loan issuing account. The loan bears interest
on a daily basis, and the daily interest rate = annual interest rate/360. If Party A fails to pay interest according to the expiry
date for interest agreed in this Agreement, the compound interest shall be calculated and collected from the next day.

 

VIII.
Interest Settlement

 

(I)
For loans with fixed interest rate, the interest shall be calculated at the agreed interest rate at the time of interest settlement.
For loans with floating interest rate, interest shall be calculated according to the interest rate determined in the current period
of each floating period; If there are multiple interest rate fluctuations in a single interest settlement period, the interest
in each floating period shall be calculated first, and the interest in that interest settlement period shall be calculated by
summing up the interest in each floating period on the expiry date for interest.

 

(II)
The interest of the loan under this Agreement shall be settled in the following method of item 1:

 

1.
The interest shall be settled on a monthly basis, and the settlement date for interest shall be fixed as the 20th day of each
month;

 

2.
The interest shall be settled quarterly, and the expiry date for interest shall be fixed as the 20th day of the month at the end
of each quarter;

 

3.
/

 

Article
6 Commitment Fee of the Loan Line

 

Party
A shall, within / working days after the signing of this Agreement, pay Party B the commitment fee of the loan line /
( in words: ).

 

Article
7 Issuance and Payment of Loans

 

1.
Application for the disbursement of credit line loan

 

Party
A shall submit the disbursing application for the credit line loan to Party B in advance at the time of disbursing the credit
line loan. If the single loan exceeds / Yuan, Party A shall submit the disbursing application for the credit line loan
/ working days in advance. Party B shall decide whether to issue the loan to Party A within / working days after
receiving the disbursing application for the credit line loan submitted by Party A.

 

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China Construction Bank

 

II.
Preconditions for Issuing Loans

 

Unless
Party B waives in whole or in part, Party B is obliged to issue the loan only if all the following preconditions are continuously
met:

 

1.
Party A has completed the approval, registration, delivery, insurance and other legal procedures related to the loan under this
Agreement;

 

2.
If there is any guarantee in this Agreement, the guarantee meeting the requirements of Party B have come into effect and continue
to be valid;

 

3.
Party A has opened an account for withdrawal and repayment as required by Party B;

 

4.
Party B has received the disbursing application for the credit line loan from Party A , and which has examined and approved by
Party B;

 

5.
If the Agreement stipulates that Party A shall pay the commitment fee of the loan line to Party B, Party A has already paid the
commitment fee of the loan line to Party B in full and on time in accordance with the Agreement;

 

6.
Party A has not committed any breach of Agreement as agreed in this Agreement;

 

7.
There is no circumstance that may endanger the creditor's rights of Party B stipulated in this Agreement;

 

8.
Laws and regulations, rules or authorities do not prohibit or restrict Party B from issuing loans under this Agreement;

 

9.
The financial indicators of Party A continue to meet the requirements of Annex 2 "Financial Indicator
Constraints";

 

10.
Party A has submitted relevant materials before the loan issuance in accordance with this Agreement;

 

11.
The materials provided by Party A to Party B is legal, true, complete, accurate and effective, and meets other requirements put
forward by Party B;

 

12.
Other preconditions:

 

/

 

III.
Materials to be provided by Party A

 

Party
A and Party B choose to apply the following item (I) [optional (I) or (II)] on the materials provided by Party A:

 

(I)

 

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China Construction Bank

 

1.
Provided that only the following conditions (1) are met:

 

(1)
The disbursement amount of a single loan is more than RMB 10 million and any planned external payment amount under this
disbursement is more than RMB 10 million;

 

(2)
/

 

Party
A shall provide Party B with the following materials no later than / working days before the disbursement of a single loan:

 

(1)
The loan redeposit certificate and the payment and settlement certificate signed by Party A ;

 

(2)
Transaction data (including but not limited to written or electronic documents such as goods, labor services, capital Agreements
and/or invoices that can prove the definite purpose of the loan funds);

 

/

 

As
well as other materials required by Party B to be provided by Party A (including but not limited to the business license, power
of attorney, articles of association, resolution of general meeting or board of directors and other materials of the transaction
object of Party A)

 

2.
In addition to the conditions stipulated in item 1 above, or if Party B considers that Party A can make independent payment as
stipulated in item 5 of this article after reviewing the above materials provided by Party A, Party A shall provide the following
materials to Party B at least / working day before the disbursement of a single loan:

 

(1)
The fund allocation corresponding to the loan to be issued (see Annex 3 for the format of the disbursement schedule);

 

(2)
The loan redeposit certificate signed and sealed by Party A;

 

/

 

As
well as other materials required by Party B to be provided by Party A (including but not limited to the business license, power
of attorney, articles of association, resolution of general meeting or board of directors and other materials of the transaction
object of Party A ).

 

(II)

 

Regardless
of the loan disbursement amount of a single loan, Party A shall provide Party B with the following materials no later than 5 working
days before the disbursement of a single loan:

 

(1)
The loan redeposit certificate and the payment and settlement certificate signed by Party A;

 

(2)
Transaction data (including but not limited to written or electronic documents such as goods, labor services, capital Agreements
and/or invoices that can prove the definite purpose of the loan funds);

 

/

 

As
well as other materials required by Party B to be provided by Party A (including but not limited to the business license, power
of attorney, articles of association, resolution of general meeting or board of directors and other materials of the transaction
object of Party A ).

 

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China Construction Bank 

 

IV.
Entrust Party B to Pay

 

1.
Application of entrusting Party B to pay

 

As
long as the single loan disbursement meets the following conditions of (1), Party B shall be entrusted for payment, i.e.
Party A irrevocably entrusts Party B to pay the loan funds to the transaction object of Party A. Party A shall not pay the above
loan funds to the transaction object or any other third party.

 

(1)
The disbursement amount of a single loan is more than 10 million Yuan and any planned external payment amount under this
disbursement is more than 10 million Yuan, and Party B, after reviewing the materials provided by Party A, believes that
it is in line with the clear characteristics of the payment object;

 

(2)
Regardless of the loan disbursement amount of a single loan, it shall be paid by Party B as entrusted;

 

(3)
/

 

2.
In case of entrusting Party B to pay, Party B shall transfer the loan funds to the loan issuing account, and then pay the loan
funds directly to the account of Party A's transaction object from the loan issuing account. Party A shall not dispose the loan
funds in any form (including but not limited to transfer and withdrawal).

 

3.
Party B shall conduct formal review on the payment amount, payment time, payment object, payment method and handling account according
to the materials provided by Party A. Party B shall pay the loan funds to the transaction object of Party A after completing the
formal review of the above payment elements and believing which meet the requirements of Party B. Once the loan funds enter the
account of the transaction object provided by Party A, it shall be deemed that Party B has fulfilled the entrusted payment obligation.
Party A shall check whether the payment was successful within 1 working day after the payment date, and notify Party B immediately
if it is unsuccessful. Party A shall ensure that its transaction object is consistent with the specific purpose of the loan and
transaction information.

 

4.
The formal review of the above payment elements by Party B does not mean that Party B confirms the authenticity and legal compliance
of the transaction, nor does it mean that Party B is involved in any dispute between Party A and its transaction object or other
third parties, or that Party B needs to bear any responsibility and obligation of Party A. Party A shall compensate all losses
suffered by Party B as a result of entrusted payment.

 

5.
If the loan fund fails to be paid successfully or fails to be paid to the account of Party A's transaction object in time due
to the reasons not caused by Party B, such as incomplete, untrue, inaccurate information provided by Party A, non-conforming to
the specific purpose of the loan, conflict between the information, etc., it shall be handled as follows:

 

(1)
Party A shall bear all the consequences arising therefrom, including but not limited to all losses caused by the failure to successfully
pay the loan funds or the failure to timely pay the loan funds to the account of Party A's transaction object. Party B shall not
bear any responsibility, and Party A shall compensate Party B for all losses incurred therefrom;

 

(2)
For this part of loan funds, Party A shall not dispose of it in any form (including but not limited to transfer and withdrawal);

 

(3)
Party A shall perform the duties of re-provisioning and correcting the information in accordance with the requirements of Party
B within five working days;

 

/

 

Party
B has the right to recover this part of the loan funds in advance on condition that Party A violates any of the above agreements.

 

6.
Party A shall bear all risks, responsibilities, and losses incurred in the failure to pay the loan funds, such as failure, error,
and delay due to Party B's fault, and Party B shall not bear any responsibility. Party A shall compensate Party B for all losses
incurred therefrom.

 

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V.
Party A Pays Independently

 

If
the disbursement of a single loan does not conform to the entrusted payment of Party B as mentioned in Item 1, paragraph 4 of
this Article, Party A may take the initiative to pay, i.e. Party A shall pay to its transaction object independently after Party
B distributes the loan funds to the loan issuing account according to the withdrawal application of Party A. Party A shall ensure
that its transaction object is consistent with the specific purpose of the loan and transaction information.

 

VI.
No matter whether Party B is entrusted to pay or Party A pays independently, it is deemed that Party B has fulfilled the loan
obligation upon the loan funds are transferred into the loan issuing account. Party A shall ensure that the loan issuing account
is in normal status (including but not limited to not being frozen by the competent authority, etc.). After the loan funds transferred
into the loan issuing account, Party A shall bear all the risks, responsibilities and losses caused by the freezing and deduction
by the competent authorities. Party A shall compensate Party B for all losses incurred therefrom.

 

VII.
Change of Payment Method

 

Party
B has the right to change the payment method of loan funds under any of the following conditions, including but not limited to
adjusting the applicable circumstances of entrusted payment (e.g. adjusting the amount standard of entrusted payment), changing
the payment method of the disbursement of single loan, etc.:

 

1.
Party A breaches any of the provisions of this Agreement;

 

2.
Any circumstance that may endanger the creditor's rights of Party B stipulated in this Agreement occurs;

 

3.
Other circumstances where Party B considers it necessary to change the payment method of the loan funds.

 

Party
A shall perform the obligation of re-submission of materials in accordance with the provisions of this Agreement and the requirements
of Party B on condition that Party B changes the payment method.

 

Article
8 Use and Supervision of the Account 

 

I.
Loan Issuing Account

 

The
loan issuing account under this Agreement shall be determined according to the following methods of item 1:

 

1.
Party A shall, within 5 working days from the effective date of this Agreement and before the first loan issuing, open a special
loan issuing account with Party B, which is specially used for the issuance and payment of all loans under this Agreement.

 

2.
Other accounts opened by Party A in Party B (account number:/).

 

II.
Account for Recoupment Funds

 

1.
Party A shall open an account for recouping funds with Party B or take the existing account (account No.: 44201002700052517141)
already opened with Party B as the account for recouping funds within / working days from the effective date of this Agreement.

 

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2.
Party A shall summarize and report the fund in and out of the account for recoup funds to Party B on quarterly (select
"monthly" or "quarterly") basis. Party A shall, at the latest within initial 10 working days of each
period, summarize and report the fund in and out of the account for recoup funds in the previous period to Party B.

 

3.
Party B has the right to manage the fund in and out of the recoup funds in the account. Specifically, the account for recoup funds
shall meet the following requirements of item / :

 

(1)
Average stock of funds in the account:

 

/

 

(2)
The transfer time of recoup funds:

 

/

 

(3)
Proportion of Party A's overall sales receipts transferred to the account:

 

/

 

(4)
Single limit for external payment of funds in the account:

 

/

 

(5)
Single-day limit for external payment of funds in the account:

 

/

 

(6)
Restrictions on related online banking for this account:

 

/

 

(7)
The external payment of funds in the account shall be subject to the consent of Party B;

 

(8)
The account shall be used exclusively for the collection and repayment of the loan under the Agreement and shall not be used for
other purposes;

 

(9)
/

 

(10)
Other requirements proposed by Party B;

 

(11)
It shall be implemented in accordance with the relevant agreement on the account management agreement separately signed by Party
A and Party B.

 

Article
9 Repayment

 

I.
Repayment Principles

 

The
repayment of Party A under this Agreement shall be repaid in accordance with the following principles:

 

Party
B has the right to use Party A's repayment first to repay all expenses that shall be borne by Party A and paid by Party B in advance
as well as the expenses for Party B to realize the creditor's rights stipulated in this Agreement, the remaining amount shall
be repaid in accordance with the principle of paying interest first and then the principal, and the principle of matching principal
repayments. However, for the loan whose principal is overdue for more than 90 days and whose interest is overdue for more than
90 days, or the loan which is otherwise stipulated by laws, regulations or rules, after repayment of the above expenses, the repayment
of Party A shall be made on the principle of repay the principal first and then the interest.

 

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II.
Interest Payment

 

Party
A shall pay the interest due to Party B on the expiry date for interest. The first interest payment date is the first expiry date
for interest after the issuance of loan. At the last repayment, interest shall be settled along with the principal.

 

III.
Principal Repayment Plan

 

Party
A shall repay the loan principal according to the principal repayment plan listed in the credit line loan withdrawal notice.

 

IV.
Repayment Method

 

Party
A shall, prior to the repayment date stipulated in this Agreement, reserve the amount payable in the current period on the account
for recoup funds or other account opened by Party B and transfer the amount to repay the loan by itself (Party B also has the
right to transfer funds from the account to repay the loan), or transfer funds from other accounts to repay loans on the repayment
date agreed in this Agreement.

 

V.
Early Repayment

 

In
case of early repayment of Party A, it shall submit a written application to Party B 30 working days in advance, and Party
A may repay part or all of the principal in advance with the consent of Party B.

 

If
Party A repays the principal in advance, the interest shall be calculated according to the actual days of use and the loan interest
rate determined in Article 5 of this Agreement.

 

If
Party B agrees that Party A may repay the principal in advance, Party B shall have the right to collect compensation from Party
A, and the amount of compensation shall be determined according to the following standards of item 1:

 

1.
Compensation amount = principal amount prepaid x number of months prepaid x 3‰. If it is less than one month, it shall
be calculated as one month;

 

2.
/

 

If
Party A repays part of the loan principal in installments, the repayment shall be made in the reverse order of the repayment plan.
After prepayment, the loan that has not been repaid shall still be executed according to the loan interest rate agreed in this
Agreement.

 

Article
10 Rights and Obligations of Party A

 

I.
Rights of Party A

 

(I)
The right to apply to Party B for disbursement of the loan as agreed in the Agreement;

 

(II)
The right to use the loan for the purposes agreed in this Agreement;

 

(III)
The right to require Party B to keep confidential of the relevant financial information provided by Party A and the business secrets
in production and operation, unless otherwise provided by laws, regulations and rules, otherwise required by the competent authorities,
or otherwise agreed by both parties;

 

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(IV)
The right to refuse Party B and its staff to ask for bribes, and the right to report the above-mentioned acts or Party B's violations
of relevant national laws and regulations such as credit interest rates and service charges to relevant authorities.

 

II.
Obligations of Party A

 

(I)
Withdraw and pay off the principal and interest of the loan in full according to the Agreement, and bear all expenses agreed in
the Agreement;

 

(II)
Provide various financial and accounting information, production and operation status information and other materials in accordance
with the requirements of Party B, including but not limited to providing Party B with the balance sheet at the end of the previous
quarter and the income statement as of the end of the previous quarter (public institutions shall provide the statement of income
and expenditure) within / working days before the first month of each quarter. At the end of the year, the Party A shall
timely provide the cash flow statement of the year, and ensure that the information provided is legal, true, complete, accurate
and effective, and shall not provide false materials or conceal important business and financial facts;

 

(III)
Party A shall notify Party B in writing within 3 working days after the occurrence of any major adverse event affecting its solvency
or any other circumstance endangering Party B's creditor's rights, or any change in the name, legal representative (person in
charge), domicile, business scope, registered capital or articles of association of the company (enterprise) and other business
registration matters, and attach relevant materials after the change;

 

(IV)
Party A shall use the loan according to the purposes agreed in this Agreement without misappropriation, and shall not use the
bank loans to engage in illegal or illegal transactions or use the loan for investment in fixed assets, equity and other investments;
shall not use the loan for fields and purposes prohibited by the State from production and operation, and shall not replace the
liabilities arising from Party A's investment in fixed assets, equity and other investments. It shall cooperate with and accept
Party B's inspection and supervision of its production, operation and financial activities, as well as the use and payment of
loans under this Agreement, and shall cooperate with and accept the relevant requirements of post-loan management of Party B,
and Party A shall not to withdraw funds, transfer assets or use related party transactions to evade debts to Party B; not to use
the false Agreement with related parties to discount or pledge the creditor's rights such as notes receivable and accounts receivable
without actual trade background to obtain bank funds or credit; Party A shall pay the loan funds as agreed in this Agreement,
and shall not circumvent Party B's entrusted payment by means such as rounding to zero;

 

(V)
Party A shall abide by the relevant national regulations on environmental protection in case of that Party A uses the loan under
this Agreement for production and manufacturing;

 

(VI)
Before paying off the loan principal and interest of Party B, Party A shall not use the assets formed by the loan under this Agreement
to provide guarantee to the third party without the consent of Party B;

 

(VII)
In the case that Party A is a group customer, Party A shall timely report to Party B the related transactions with more than 10%
of the net asset of Party A, including: (1) the association relationships among transaction parties; (2) the item and nature of
the transaction; (3) the amount or corresponding proportion of the transaction; (4) pricing policy (including transactions involving
no amount or only nominal amount);

 

(VIII)
Party A shall obtain the written consent of Party B before carrying out major issues such as merger, division, equity transfer,
foreign investment and substantial increase in debt financing. However, the written consent of Party B shall not affect Party
B's right to take the relief measures agreed in this Agreement when Party B believes that the above-mentioned acts may endanger
the safety of Party B's creditor's rights in the future;

 

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(IX)
In case of Party A pays independently, Party A shall summarize and report the use and payment of the loan to Party B on a monthly
basis. Party A shall, at the latest within the first / working days of each month, summarize and report to Party B the
use and payment of the loan in the previous month, and submit a list of the actual use of the loan until the payment of the loan
is completed. See Annex 4 for the format of summary report.

 

Article
11 Rights and Obligations of Party B

 

I.
Party B has the right to require Party A to repay the principal, interest and expenses of the loan on schedule, to manage and
control the payment of loan funds, to dynamically monitor the overall cash flow of Party A, to recover the loan in advance according
to fund withdrawal of Party A, to exercise other rights stipulated in this Agreement, and to require Party A to perform other
obligations under this Agreement;

 

II.
Party B has the right to participate in the large-denomination financing (that is, the financing with a total amount of more
than RMB /75 Yuan or the equivalent foreign currency), asset sale, merger, division, shareholding system
transformation, liquidation of the property of Party A, to maintain the creditor's rights of Party B. The specific
participation method is the following item blank:

 

1.
Party A shall obtain the written consent of Party B when carrying out the above activities;

 

2.
Party B arranges large-denomination financing for Party A;

 

3.
The asset selling price and object of Party A shall comply with the following provisions:

 

/

 

4.
/

 

5.
Other actions that Party B believes should be taken.

 

III.
Issue loans in accordance with the provisions of this Agreement, except for the delay or failure caused by Party A or other reasons
not attributable to Party B;

 

IV.
Keep confidential of the relevant financial information provided by Party A and the business secrets in production and operation,
unless otherwise provided by laws, regulations and rules, otherwise required by the competent authorities, or otherwise agreed
by both parties;

 

V.
Party B shall not offer bribes to Party A or its staff, or ask for or accept bribes from Party A or its staff;

 

VI.
Party B shall not act dishonestly or damage the legitimate interests of Party A.

 

Article
12 Liability for Breach of Agreement and Remedial Measures for Endangering the Rights of Party B as a Creditor

 

I.
Breach of Agreement and Liability for Breach of Agreement by Party B

 

(I)
If Party B fails to issue loans as agreed in this Agreement without justifiable reasons, Party A may demand Party B to continue
to issue loans as agreed in this Agreement;

 

(II)
If Party B violates the prohibitive provisions of national laws and regulations and collects interest and fees that should not
be collected from Party A, Party A has the right to require Party B to refund them.

 

II.
Breach of Agreement of Party A

 

(I)
Party A violates any articles in this Agreement or any legal obligation;

 

(II)
Party A expressly indicates or indicates by its behavior that it will not perform any obligation under this Agreement.

 

    Page 13 of 21

     

    

 

China Construction Bank

 

III.
Circumstances that May Endanger the Rights of Party B as a Creditor

 

(I)
Under any of the following circumstances that Party B considers may endanger the rights as a creditor under this Agreement: Party
A has trusteeship (takeover), leasing, shareholding system transformation, reduction of registered capital, investment, joint
venture, merger, acquisition and reorganization, separation, equity transfer, substantial increase of debt financing, (to be)
applied for suspension of business for rectification, application for dissolution, cancellation, and (to be) applied for bankruptcy,
change of controlling shareholder / actual controlling person, transfer of major assets, suspension of production and closure,
high fines imposed by the competent authorities, cancellation of registration and revocation of business license, involving major
legal disputes, serious difficulties in production and operation or deterioration of financial status, decline of credit status,
failure of legal representative or main person in charge to perform their duties normally;

 

(II)
Under any of the following circumstances that Party B considers may endanger the security of the rights as a creditor under this
Agreement: Party A fails to perform other debts due (including debts due to subsidiaries at all levels of China Construction Bank
or other third parties), transfer property at low price and free of charge, reduce or relieve the debts of the third party, delay
in exercising the creditor's rights or other rights, or provide guarantee for the third party; the financial indicators of Party
A fail to meet the requirements of Annex 2 "Financial Indicator Requirements”; abnormal fluctuation of funds in any
account of Party A (including but not limited to the account for recouping funds and other monitoring account of Party B); Party
A has a major cross-default event; the weak profitability of primary business of Party A; abnormal use of loan funds;

 

(III)
Party A's shareholders abuse the independent status of the company's legal person or shareholder's limited liability to evade
debts, and Party B believes that it may endanger the security of creditor's rights under this Agreement;

 

(IV)
Fails to continuously meet any preconditions for loan issuance as agreed in this Agreement;

 

(V)
In case of any of the following circumstances of the guarantor, Party B believes that it may endanger the security of the rights
as a creditor under this Agreement:

 

1.
The breaching of any article of the guarantee Agreement, or any false, error or omission in the statement and guarantee;

 

2.
The Occurrence of the following circumstances: contracting, trusteeship (takeover), leasing, shareholding system transformation,
reduction of registered capital, investment, joint venture, merger, merger, acquisition and reorganization, separation, joint
venture, equity transfer, substantial increase of debt financing, (to be) applied for suspension of business for rectification,
application for dissolution, cancellation, and (to be) applied for bankruptcy, change of controlling shareholder / actual controller
or transfer of major assets, transfer property at a low price or free of charge, reduce or relieve debts of third parties, or
delay in exercising creditor's rights or other rights, suspension of production and closure, high fines imposed by the competent
authorities, cancellation of registration and revocation of business license, involving major legal disputes, serious difficulties
in production and operation or deterioration of financial status, decline of credit status, failure of legal representative or
main person in charge to perform their duties normally, which may affect the guarantor's ability to undertake the guarantee;

 

3.
Other circumstances where the ability to guarantee is lost or may be lost;

 

(VI)
In case of any of the following circumstances in mortgage or pledge, Party B believes that it may endanger the security of creditor's
rights under this Agreement:

 

1.
The mortgaged property or pledged property is damaged, lost or reduced in value due to the acts of a third party, expropriation,
confiscation, requisition, free recovery, demolition, changes in market conditions or any other reasons;

 

    Page 14 of 21

     

    

 

China Construction Bank

 

2.
The mortgaged property or the pledged property is sealed up, detained, frozen, deducted, retained or auctioned, supervised by
the administrative organ, or the ownership of which is in dispute;

 

3.
The mortgagor or pledgor violates any article of the mortgage Agreement or the pledge Agreement, or there is any false, error
or omission in the statement and guarantee;

 

4.
Other circumstances that may endanger the realization of the mortgage or pledge of Party B;

 

(VII)
The guarantee is not established, not effective, invalid, revoked or canceled, the Guarantee breaches the Agreement or explicitly
indicates or through its actions indicating that it will not perform its guarantee liabilities, or the Guarantee loses the guarantee
ability in part or in whole, the value of the guaranty decreases and other circumstances, and Party B believes that which may
endanger the security of creditor's rights under this Agreement; or

 

(VIII)
Other circumstances that Party B considers may endanger the security of the creditor's rights under this Agreement.

 

IV.
Relief Measures of Party B

 

In
case of any of the circumstances contemplated in the second or third paragraphs of this Article, Party B has the right to exercise
one or more of the following rights:

 

(I)
Suspend the issuance of loans;

 

(II)
Supplement the conditions of loan issuance and payment;

 

(III)
Change the loan payment method in accordance with the Agreement;

 

(IV)
Declare the immediate maturity of the loan, and require Party A to immediately repay the principal, interest and expenses of all
matured and unmatured debts under this Agreement;

 

(V)
Adjust, cancel or terminate the credit line accordingly, or adjust the valid period of credit line.

 

(VI)
In case of Party A fails to use the loan for the agreed purpose, for the part misappropriated by Party A, Party B has the right
to charge interest and compound interest according to the penalty interest rate and the interest settlement method agreed in this
Agreement from the date when the loan is not used according to the agreed purpose to the date when all the principal and interest
are paid off;

 

(VII)
In case of the loan is overdue, for the loan principal and interest that Party A fails to pay off on time (including the loan
principal and interest declared by Party B to be fully or partially due in advance), Party B has the right to calculate and collect
the interest and compound interest according to the penalty interest rate and the interest settlement method agreed in this Agreement
from the overdue date to the date when the principal and interest are fully paid off. Overdue loan refers to Party A's failure
to repay the loan on time or exceed the agreed time limit for repayment of principal in installments.

 

Before
the loan becomes due, Party B shall have the right to calculate and collect compound interest on the interest that Party A fails
to repay on time according to the loan interest rate and interest settlement method agreed in this Agreement;

 

(VIII)
Other remedies, including but not limited to:

 

1.
Transfer and collect the corresponding amount in RMB or other currencies from the account opened by Party A in China
Construction Bank system without prior notice to Party A;

 

2.
Exercise guarantee rights;

 

3.
Require Party A to provide new guarantee that meet the requirements of Party B for all debts under this Agreement;

 

    Page 15 of 21

     

    

 

China Construction Bank

 

4.
Refuse Party A to dispose of the corresponding amount of deposit in the account (including but not limited to the account for
recoup funds) opened by Party A in China Construction Bank System;

 

5.
Terminate this Agreement.

 

Article
13 Other Provisions

 

I.
Expenses Responsibility

 

1.
Expenses incurred due to Party A's breach of any agreement in this Agreement (including but not limited to the actual legal fees,
arbitration fees, property preservation fees, travel expenses, execution fee evaluation fees, auction fees, notarization fees,
service fees, announcement fees, attorney fees and other expenses incurred by Party B due to Party A's breach of Agreement) shall
be borne by Party A;

 

2.
For other expenses, Party A and Party B agree as follows: /

 

II.
Use of Party A's Information

 

Party
A agrees that Party B may inquire Party A's credit status from the credit database established with the approval of The People's
Bank of China and the competent credit investigation department or relevant units and departments, and agrees that Party B may
provide Party A's information to the credit database established with the approval of The People's Bank of China and the competent
department of credit investigation. Party A also agrees that Party B may reasonably use and disclose Party A's information for
business needs.

 

III.
Announcement for Collection

 

Party
B shall have the right to inform the relevant departments or units of Party A's default on the principal and interest of the loan
or other cases of breach of Agreement, and shall have the right to make a public announcement through the news media for collection.

 

IV.
Evidence Validity of Party B's Records

 

Unless
there is reliable and definite evidence to the contrary, Party B's internal accounting records about the principal, interest,
expenses and repayment records, the documents and vouchers produced or retained by Party B in the process of Party A's withdrawal,
repayment, payment of interest and other business, as well as the records and vouchers of Party B's collection of loans, shall
constitute the confirmation evidence effectively proving the creditor's rights relationship between Party A and Party B. Party
A shall not raise any objection just on the ground that the above records, documents and vouchers are made or retained by Party
B unilaterally.

 

V.
Reservation of Rights

 

The
rights of Party B hereunder shall not affect or exclude any other rights granted by laws, regulations and other Agreements. Any
tolerance, grace period, preferential treatment, or delay regarding the performance of any rights hereunder shall be deemed neither
as waive of the rights and interests hereunder nor as the consent or acceptance for any behaviors violating this Agreement. Such
tolerance, grace period, preferential treatment, or delay regarding the performance of any rights hereunder shall neither restrict,
prevent or hinder continuous performance of the rights or performance of other rights nor cause the Party B to assume any rights
and obligations, arising thereof, for the Party A .

 

VI.
In addition to the debts under this Agreement, if Party A has other debts due to Party B, Party B has the right to transfer and
collect the RMB or other currency in the account opened by Party A in China Construction Bank system, and which shall be first
used to pay off any debts due, and Party A agrees not to raise any objection hereof.

 

VII.
In case of any change in Party A's communication address or contact information, Party A shall immediately notify Party B in writing,
and Party A shall bear the loss caused by failure to notify in time.

 

VIII.
Transfer and Collection of Payables

 

Party
B has the right to transfer the corresponding amount in RMB or other currencies from the account opened by Party A in China Construction
Bank System for all the payables of Party A under this Agreement, without prior notice to Party A. Party A is obliged to assist
Party B in handling the procedures of foreign exchange settlement and sale or foreign exchange trading, and the exchange rate
risk shall be borne by Party A.

 

    Page 16 of 21

     

    

 

China Construction Bank

 

IX.
Dispute Resolution

 

Any
dispute arising from the performance of this Agreement can be settled through negotiation. If negotiation fails, it shall be settled
as the following methods of item 1:

 

1.
File a lawsuit with the People's Court of the place where Party B is domiciled.

 

2.
Submit to the Arbitration Commission (place of arbitration is /), and conduct arbitration in accordance with the arbitration rules
in force at the time of applying for arbitration. The arbitration award is final and binding on both parties.

 

During
the litigation or arbitration, the provisions of this Agreement that do not involve the disputes shall still be performed.

 

X.
Conditions for the Agreement Entry into Force

 

This
Agreement shall enter into force after being signed and stamped by the legal representative (person in charge) or authorized agent
of Party A and the person in charge or authorized agent of Party B.

 

The
annexes, disbursing application for the credit line loan, credit line loan withdrawal notice, various types of vouchers and other
legal documents forming the relationship between creditor's rights and debts under the Agreement shall be an integral part of
the Agreement and have the same legal effect as the Agreement.

 

XI.
This Agreement is made in septuplicate.

 

XII.
Other Matters

 

(I)
All outstanding debts (including principal and interest, various expenses, and so on) of Party A under the RMB Credit Line
Loan Agreement (No.J2017Z30406) signed with Party B on November 15, 2017, shall occupy the credit line stipulated in the first
paragraph of Article 1 of this Agreement.

 

(II)
Relevant VAT Agreements

 

1.
Unless otherwise agreed by the parties, the price and non price expenses under this Agreement shall be the price including VAT.

 

2.
Invoice

 

2.1
Party B shall issue invoices in accordance with Item (1) below:

 

(1)
If Party A requires to issue invoice, Party B shall issue value-added tax invoice of the current payment amount according to law
after receiving the payment from Party A.

 

(2)
Other agreements:/

 

2.2
Invoicing information provided by Party A

 

Company
Name (Full Name): United Time Technology Co., Ltd.

 

Taxpayer
Identification No.: 914403006766520412

 

Bank
Account: 755914819410602

 

Bank:
Shenzhen Science Park Sub-branch of China Merchants Bank

 

Address:
F2.64D-403, Tianzhan Building, Tian’an Chegongmiao Industrial Zone, Xiangmi Lake, Futian District, Shenzhen City

 

Tel:
0755-86512198

 

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China Construction Bank 

 

2.3
If there is any need to invalidate the invoice or issue a credit note, Party A shall provide timely assistance as required by
Party B. If the invoice cannot be voided or the credit note cannot be issued attribute to Party A, Party A shall compensate Party
B for all losses, including but not limited to taxes, additional taxes, penalties, and late fees.

 

3.
If Party A is an overseas agency of the People's Republic of China, and the price and extra-price charges under this Agreement
are subject to tax incentives and require tax filing for the purposes of laws, regulations, rules or relevant regulations of relevant
authorities, Party A shall timely provide Party B with sufficient and accurate VAT tax preference filing information as required
by Party B, so as to assist Party B in completing tax filing and other works.

 

(III)
Agreed Terms of Service

 

Party
A and Party B have agreed on the address for service and legal consequences of various notices, agreements, and documents related
to this Agreement:

 

1.
Address for service

 

(1)
The effective address for service affirmed by Party A:

 

7
/ F, Block A, Building 5, Software Industry Base, Nanshan District, Shenzhen City

 

(2)
The effective address for service affirmed by Party B:

 

Block
A, Rongchao Business Center, No.6003 Yitian Road, Futian District, Shenzhen City

 

2.
Application of address for service

 

The
addresses above for service are applicable to the delivery of various kinds of notices, agreements and documents relevant to the
Agreement, including but not limited to the delivery of various kinds of notices, agreements during Agreement performance period,
delivery of relevant documents during dispute and the delivery of relevant documents and legal documents in first trial, second
trial and executive procedure and other procedures after the dispute's entering arbitration and civil procedure.

 

3.
Change of address

 

(1)
If Party A needs to change the address for service, it shall notify Party B in writing 30 working days in advance, and the written
notice shall be delivered to the address for service of Party B;

 

(2)
If Party B needs to change the address for service, it shall notify Party A in writing.

 

(3)
If one party changes its address in arbitration or civil litigation, the party shall also perform the obligation of written notice
to the arbitration institution and the court.

 

(4)
After one party performs the obligation of sending the notice of change of address according to the above agreement, the address
for service after change will be the effective address for service; otherwise the previously confirmed address for service shall
still be the effective address for service.

 

4.
Legal consequences

 

(1)
If the notice, agreement, legal document and other documents are not actually received by the party due to the address for service
provided or confirmed by either party is inaccurate, the notice obligation is not fulfilled in time in the above manner after
the change of address for service, the party or its designated receiver refuses to receive, and so on, in case of service by post,
the date of return of documents shall be deemed as the date of service; in case of direct service, the date on which the addresser
records the information on the service receipt on the spot shall be deemed as the date of service.

 

(2)
For the above-mentioned address for service, the arbitration institution and the court can directly mail the service, even if
the parties fail to receive the documents mailed by the arbitration institution and the court, due to the above agreement, it
shall also be deemed as service.

 

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China Construction Bank

 

(IV)
The loan interest rate under this Agreement is the interval interest rate, which is determined between the reduction of LPR interest
rate by 38.5 basis points (1 basis point equals to 0.01%, accurate to 0.01 basis point) and the increase of LPR interest rate
by 350 basis points (1 basis point equals to 0.01%, accurate to 0.01 basis point), the specific interest rate of a single withdrawal
shall be subject to the corresponding loan withdrawal notice, and shall be adjusted once every 12 months from the date of withdrawal
to the date of full repayment of principal and interest according to the LPR interest rate of the working day before the interest
rate adjustment date and the corresponding up / down floating proportion. The interest rate adjustment date is the corresponding
date of the withdrawal date in the current month of adjustment. If there is no corresponding date of the withdrawal date in the
current month, the last day of the current month is the interest rate adjustment date. The withdrawal date mentioned in this item
refers to the date when the loan issued each time is transferred to the loan issuing account agreed by Party A and Party B on
condition that Party A applies for the disbursement of loan. (5) Repayment method: interest shall be paid on a monthly basis,
and the principal and interest of the loan shall be settled in one time when due.

 

Article
14 Declaration Clause

 

I.
Party A clearly understands the business scope and authority of Party B.

 

II.
Party A has read all the terms and conditions hereof. As requested by the Party A, the Party B has made explanations for the corresponding
terms and conditions hereof. The Party A has full information and understanding regarding the implication of the terms and conditions
hereof and the corresponding legal consequence.

 

III.
Party A’s signing and performance of its obligations under this Agreement are in accordance with laws, administrative regulations,
rules and Party A's articles of association or internal organization documents, and have been approved by competent internal organization
of the company and /or by the competent state authorities.

 

IV.
Party A’s production and operation are legal and compliant;

 

V.
Party A has the ability to continue operations and has a legitimate source of repayment;

 

VI.
Party A promises that all loans under this Agreement are based on the real needs of the specific purpose of the loan and do not
exceed its actual needs.

 

VII.
Party A and its controlling shareholders have good credit status and have no significant bad records.

 

VIII.
Party B has the right to entrust other branches of China Construction Bank to issue loans under this Agreement and exercise and
perform Party B’s rights and obligations under this Agreement, Party A has no objection to hereof.

 

IX.
Party A declares that at the time of conclusion of this Agreement, it and its important related parties do not have any behavior
or situation in violation of environmental and social risk management laws, regulations and rules, and promise to strengthen the
environmental and social risk management of itself and its important related parties after the conclusion of this Agreement, and
strictly abide by the laws, regulations and rules related to environmental and social risk management, put an end to the hazards
and related risks to the environment and society in the construction, production and business activities (including but not limited
to environmental and social issues related to energy consumption, pollution, land, health, safety, resettlement, ecological protection,
energy conservation and emission reduction, climate change, and so on). Party A acknowledges that Party B has the right to supervise
the environmental and social risk management of Party A and request Party A to submit the environmental and social risk report.
If the above statement of Party A is false or the above commitment is not fulfilled, or Party A may cause environmental and social
risks, Party B has the right to stop granting credit to Party A (including but not limited to refusal to issue loans, provide
financing, issue letter of guarantee or letters of credit or bank acceptance bill, etc.),or to declare that the principal and
interest of creditor's rights (including but not limited to loans, financing, advances that have been or may occur, etc.) are
due in advance, or to take other remedies as agreed in this Agreement or permitted by law.

 

Party
A (Official Seal): United Time Technology Co., Ltd. (Seal Affixed)

 

Legal
Representative (Person in Charge) or Authorized Agent (Signature): /s/ Minfei Bao

  

April
23, 2019

 

Party
B (Official Seal): Shenzhen Branch of China Construction Bank Corporation (Seal Affixed)

 

Person
in Charge or Authorized Agent (Signature): /s/ Ye Wang

 

 

April
23, 2019

 

This
page contains no text (Seal)

    Page 19 of 21

     

    

 

China Construction Bank

 

Annex
1:

 

Basic
Information of the Loan

 

1.
Specific purposes of the loan under the Agreement:

 

    Used
for daily capital turnover, purchasing raw materials, etc.

 

    Party
A shall not change the specific purpose of the loan without the written consent of Party B.

 

2.
The repayment source of the loan under the Agreement:

 

Operating
income, etc.

 

Party
A shall ensure that the source of the repayment is real and legal, and the repayment cash flow is stable and sufficient.

 

3.
Others:

 

/

 

/

 

Annex
2:

 

Financial
Indicator Requirements

 

The
financial indicators of Party A shall continue to meet the following restrictions:

 

The
ratio of liabilities to assets shall not be higher than 75%.

 

/

 

/

 

/

 

/

 

After
notifying Party A within 5 working days in advance, Party B has the right to modify the above restrictions.

 

    Page 20 of 21

     

    

 

China Construction Bank

 

Annex
3

 

Fund
Allocation

 

	Agreement
    No.	 
	Withdrawal
    Date	 
	No.	Planned
    Purpose	Anticipated
    Payment Amount	Anticipated
    Payee (if any)	Comments
	1	 	 	 	 
	2	 	 	 	 
	...	 	 	 	 
	Total	RMB
    _______ ten thousand Chinese Yuan (in words: _________)
	Name
    of Borrower (Seal):
	 	 	 	 	 	 

Annex
4

 

Summary
of Independent Payment

 

	Agreement
    No.	 
	Date
    of Submission	 
	No.	Actual
    Use	Payee	Amount	Supporting
    Materials	Planned
    or not
	1	 	 	 	 	 
	2	 	 	 	 	 
	 	 	 	 	 	 
	Total	RMB
    _______ ten thousand Chinese Yuan (in words: _________)
	Name
of Borrower (Seal):

	Conclusion
    of Internal Review	Account
    Manager (Signature):
	Person
    in charge of Issuance and Payment Review (Signature):
	 	 	 	 	 	 	 

 

 

Page
21 of 21Exhibit
10.10

 

Agreement
No.: 001202018K00152

UTime
200

 

 

  

Credit
Agreement

 

 

 

 

 

 

 

Shenzhen
Rural Commercial Bank

 

     

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Parties
to the Agreement:

Credit
Grantor (Lender): Longhua Sub-branch of Shenzhen Rural Commercial Bank

Legal
Representative/Person in Charge: Liu Yachun

Address:
No.1003, Minzhi Avenue, Longhua District, Shenzhen City Tel: 28192182

 

Credit
Applicant (Borrower): United Time Technology Co., Ltd.

ID
Card No.:

Legal
Representative/Person in Charge: Minfei Bao

 

Guarantor:
Minfei Bao

ID
Card No.: 510402197304140958

 

Legal
Representative/Person in Charge:

 

(Note:
It is unnecessary for natural persons to fill in the item “Legal Representative/Person in Charge”, and it is unnecessary
for non-natural persons to fill in the item “ID Card No.”)

 

The
Credit Grantor, Credit Applicant and Guarantor reach this Agreement through full negotiation on the basis of equality and voluntariness
in accordance with the relevant laws and regulations of the People's Republic of China and the provisions of the relevant interest
rate documents of the People's Bank of China for adherence.

 

This
Credit Agreement is made in triplicate, with the Credit Grantor holding two copies, the Credit Applicant, the Guarantee and the
Mortgage (Pledge) Registration Authority each holding one copy, and the Agreement number is 001202018K00152, which
has the same legal effect.

 

Terms
of Credit

 

Article
1 Credit Line

 

The
Credit Grantor shall provide the Credit Applicant with a credit line of (in words) Two Million Yuan only (in figures) RMB
2,000,000.00.

 

The
credit period is 36 months, which shall be from August 9, 2018 to August 8, 2021.

 

Article
2 The credit line under this Agreement can be used for the first of the following businesses (multiple choices are
available):

 

1.
Loans;

 

2.
Discount of Commercial Acceptance Bill;

 

3.
Discount of Bank Acceptance Bill;

 

4.
Acceptance of Bank Acceptance Bill;

 

5.
Issuing of Letter of Guarantee;

 

6.
Others----

 

Article
3 The Credit Applicant agrees to use the following account opened in Shenzhen Rural Commercial Bank as the account for credit
use (such as entering the item of expenditure in the accounts of goods), payment, withdrawal of funds and settlement of arrears
under this Agreement: the account name is United Time Technology Co., Ltd., and the account number is 000263231318.

 

Article
4 This credit line shall be used in the following 1 method:

 

 

1.
Revolving             2. Non-revolving              3. Agreed Separately.

 

Article
5 The repayment date of the business under this credit line shall be the 21st day of each month. If there is no
such date in the month, the last day of the month shall be the repayment date, and the last repayment date shall be the maturity
date of the loan. If otherwise agreed, the specific agreement shall prevail.

 

Article
6 The first payment method shall be selected for the credit funds under this Agreement. For the specific agreement
of each payment method, please refer to Article 21 of the Agreement.

 

1.
Independent Payment 2. Entrusted Payment 3. Independent Payment + Entrusted Payment 4. Agreed Separately.

 

     1

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
7 The annual rate of the occupancy fee for the Agreement quota is 0.00%, which shall be charged by using the fourth method
in Article 19 of the Agreement.

 

Article
8 The guarantee of this Agreement shall be in the following second or fourth methods (multiple choices are available):

 

1.
Credit method, Credit Applicant does not need to provide guarantees;

 

 2.
Minfei Bao shall be the Guarantor for the arrears owed by the Credit Applicant under this Agreement, and shall provide
the guarantee of joint and several liability for the maximum amount;

 

 3.
--- shall provide a mortgage guarantee for the maximum amount for the arrears owed by the Credit Applicant under this Agreement
with his legally owned and disposable ---- (property);

 

 4.
Minfei Bao shall provide a pledge guarantee for the maximum amount for the arrears owed by the Credit Applicant under this Agreement
with his legally owned and disposable property (rights) in the List of Pledged Property;

 

 5.
Other guarantee methods---.

 

Article
9 Loans within the Credit Line (hereinafter referred to as “Loans”)

 

1.
The loan interest rate within this credit line shall be calculated by fixed interest rate. Please refer to Article 11 and
Article 17 of this Agreement for details.

 

2.
The purpose of the loan: refer to Article 11 of this Agreement for details.

 

3.
Repayment method: refer to Article 11 of this Agreement for details.

 

Notes:
the actual amount, starting date, maturity date, interest rate and interest payment date of the loan shall be subject to the Loan
Receipt.

 

Article
10 Disputes that cannot be settled through negotiation between the parties concerned shall be settled by using the first
of the following methods.

 

1.
To bring a lawsuit to the people's court where the Credit Grantor is located;

 

2.
To apply to the ---- Arbitration Commission for arbitration, the Commission shall make a final decision in accordance with
the arbitration rules in force at that time, and the findings shall be binding for each party.

 

Article
11 Special terms and conditions agreed upon by the parties. In case of any inconsistency between other clauses of this Agreement
and this clause, this clause shall prevail.

 

1.
The non-revolving credit line is 2 million Yuan only, which is valid for 3 years, and for which, 30% of the equity of the Credit
Applicant held by Bao Minfei shall be pledged as security, and Bao Minfei shall provide an guarantee for joint and several liability,
and have the pledge registered, so that the credit line can be established. Under the credit line, a sub-credit line shall be
established. sub-credit line I: a non-revolving credit line of 2 million yuan, with a valid period of 3 years, and a fixed monthly
interest rate of 7.2‰. The Interest shall be paid on a monthly basis, and the principal shall be repaid at a fixed rate
of 2% of the original amount, also on a monthly basis, with the balance fully repaid on the due date. The non-revolving credit
line shall be used for working capital turnover.

 

2.
(1) The amount of no less than RMB 1.2 million of the monthly operating income of Credit Applicant or associated person shall
be placed in the supervised account of the Credit Grantor; other payments may be made only after the monthly principal and interest
are paid off: (2) The Credit Applicant can only make payments after the Credit Grantor signs a wage payment agreement. All the
above conditions must be met, otherwise the Credit Grantor shall have the right to raise the loan interest rate by 50% from the
date of payment or have the right to recover the payment in advance.

 

Article
12 All Debts under this Agreement (collectively referred to as "Arrears" in this Agreement)

All
debts under this Agreement refer to all the money owed by the Credit Applicant to the Credit Grantor, including loan principal,
interest, penalty interest, compound interest, liquidated damages, damages, quota occupation fees, necessary expenses (including
but not limited to lawyer's fees, legal fees, arbitration fees, enforcement fees, assessment fees, notarial fees, etc.) for the
realization of Credit Grantor's rights and security rights under this Agreement and relevant expenses paid on behalf of the Credit
Applicant.

 

Terms
of Credit Line 

 

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    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
13 The credit line refers to the maximum limit provided by the Credit Grantor to the Credit Applicant after comprehensive
evaluation of the credit, financial status, operation and management of the Credit Applicant, including local and foreign currency
loans, trading finance, discount, letter of guarantee and other businesses.

 

Article
14 The sum of all credit balances under this credit line shall not exceed the credit line at any time, the credit balance
of a single type of business shall not exceed the specific agreement on the maximum credit line for this type of business, and
the sum of the accumulated use line of non-revolving credit line shall not exceed the maximum limit of non-revolving credit line.

 

Article
15 Credit period refers to the effective period of the credit line provided by the Credit Grantor to the Credit Applicant.
The Credit Applicant shall use the credit line provided by the Credit Grantor within the current period. The maturity date of
a single credit shall not exceed the termination date of the credit period. After the expiration of the credit period, the credit
line shall be terminated automatically.

 

Article
16 If the Credit Applicant needs to use the credit line, it must apply one by one and provide relevant information as requested
by the Credit Grantor. After the approval of the Credit Grantor, a Loan Receipt shall be signed with Credit Grantor, and
the Credit Grantor shall go through the procedures of entering an item of expenditure in the accounts.

 

Article
17 Loan Interest Rate, Interest Rate Adjustment and Interest Settlement under Credit Line

 

(1)
The loan under the credit line shall bear interest according to the interest-bearing method stipulated by the People's Bank of
China, and the benchmark interest rate for loans with the same term published by the People's Bank of China on the date of issuance
shall be taken as the benchmark interest rate. The Credit Grantor shall have the right to decide the conversion method of the
daily interest rate.

 

(2)
The interest in this Agreement can be calculated by using fixed interest rate or floating interest rate: when the fixed loan interest
rate is adopted, the interest shall be paid according to the fixed interest rate agreed in Article 9 of this Agreement; when the
floating loan interest rate is adopted, the loan interest rate = loan benchmark interest rate x loan interest rate floating coefficient,
and the specific loan interest rate floating coefficient shall be agreed in Article 9 of this Agreement. The loan shall be settled
on the day before the interest payment date agreed in this Agreement.

 

(3)
After the signing of this Agreement, the Credit Grantor shall have the right to make corresponding adjustments to the loan benchmark
interest rate and interest rate floating coefficient according to the regulations of the People's Bank of China, the changes in
the interbank interest rate level in the place where the Credit Grantor is located and the agreements in this Agreement. Such
adjustments have been acknowledged by Credit Applicant and each Guarantor, thus it's unnecessary to notify in advance. The loan
benchmark interest rate shall be adjusted quarterly and will be adjusted at the end of each quarter on the 21st
of the quarter-end month.

 

(4)
If the Credit Applicant fails to repay the loan on schedule, the overdue principal shall be charged interest at the overdue loan
interest rate from the date of overdue, and the overdue loan interest rate shall be 50% higher than the current implemented loan
interest rate. For the interest that the Credit Applicant fails to pay on schedule, 50% of compound interest will be charged on
the current loan interest rate level from the date of overdue payment.

 

(5)
If the Credit Applicant fails to use the loan for the purpose agreed in this Agreement, the Credit Grantor shall have the right
to collect interest at the penalty interest rate of misappropriated loans from the date when the loan is not used for the agreed
purpose. The penalty interest rate of misappropriated loans shall be 100% higher than the current loan interest rate. If the loan
is misappropriated and overdue at the same time, the penalty interest will be calculated based on the higher one.

 

Article
18 Early Repayment

 

If
the Credit Applicant want to repay in advance, it shall apply to the Credit Grantor in writing thirty days in advance to
obtain the consent of the Credit Grantor. The prepaid principal and interest of the loan shall be paid off before the prepayment.
The Grantor has the right to require the Credit Applicant to pay an additional interest of not more than three months as liquidated
damages for the early repayment according to the amount of prepayment principal and the loan interest rate at the time of such
early repayment.

 

For
the loan principal repaid in advance, the interest will be postponed to the next interest payment date, and the principal and
interest repaid in each period will be recalculated according to the remaining loan principal and the number of remaining repayment
periods in the repayment method agreed in this Agreement.

 

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	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
19 The Credit Grantor shall have the right to collect the quota occupation fee from the Credit Applicant in the following four
ways:

 

1.
It shall be collected in one lump sum when opening an account, and the credit line occupation fee = credit line x days of the
credit period x annual rate/360;

 

2.
Calculated on a daily basis, it shall be charged monthly (repayment date) from Credit Applicant, and the daily credit line occupation
fee - unused credit line on the current day x annual rate/360;

 

3.
The credit line occupation fee shall be calculated according to the accumulated unused total credit line at the credit termination
date: the credit line occupation fee = the sum of the daily unused credit line during the credit period x annual rate/360;

 

4.
To be agreed separately.

 

Article
20 If the credit line is used for non-loan businesses, the specific business agreements which may be signed separately.

 

Terms
of Payment

 

Article
21 Agreement on Payment Methods

 

1.
Independent payment means that the Credit Applicant shall independently pay the transaction object of the Credit Applicant that
meets the purposes agreed in this Agreement after the Credit Grantor distributes the credit funds to the account of Credit Applicant
according to the withdrawal application of the Credit Applicant. If this payment method is adopted, the Credit Applicant shall
provide the Credit Grantor with materials explaining the flow of credit funds such as the Fund Allocation Plan, and report the
payment of funds to the Credit Grantor regularly (at least quarterly) after payment. The Credit Grantor may check whether the
payment of credit funds conforms to the purpose agreed in this Agreement through account analysis, voucher inspection or on-site
investigation.

 

2.
Entrusted payment means that the Credit Grantor shall pay the credit funds of the Credit Applicant to the transaction object that
meets the purposes agreed in this Agreement through the account of Credit Applicant according to the withdrawal application and
payment entrustment of the Credit Applicant. If this payment method is adopted, the Credit Applicant shall submit the payment
entrustment (specifying the specific purpose, payment object, payment amount and other information) and the corresponding business
Agreement and other supporting materials when applying for withdrawal from the Credit Grantor, and the payment shall only be made
after the Credit Grantor conducts formal examination and confirmation (Note: the examination and confirmation do not constitute
the obligation of the Credit Grantor). If the materials provided by the Credit Applicant are incomplete, incorrect, false or inconsistent
with the purposes agreed in the Agreement, the Credit Grantor shall have the right to refuse to perform relevant withdrawal and
payment instructions or require the Credit Applicant to supplement and rectify.

 

3.
Independent Payment + Entrusted Payment. If this payment method is adopted, the requirements for entrusted payment and
independent payment are the same as above.

 

Article
22 The Credit Applicant shall not evade the supervision of the Credit Grantor through online banking, transferring service
of transfer cheque, breaking up the whole into parts, etc. The Credit Grantor shall have the right to pre-control the account
of the Credit Applicant (the control amount shall not exceed the total credit amount), and restrict his/her payment behavior and
exchange function of non-counter channels such as online banking and mobile banking.

 

Article
23 If the Credit Applicant is a legal person or any other organization, and affixes a seal consistent with the reserved seal of
the credit lending account on the application and entrustment related to Loan Receipt, withdrawal and payment, the legal effect
of this seal shall be equivalent to the signature and official seal of the Legal Representative/Person in Charge of the Credit
Applicant, and it shall be recognized by all parties to this Agreement.

 

Article
24 The Credit Grantor shall have the right to unilaterally change the payment method according to the provisions of the People's
Bank of China, China Banking Regulatory Commission and other regulatory agencies as well as the credit status of the Credit Applicant.
If the Credit Applicant needs to change the payment method, it must submit a written application to the Credit Grantor and obtain
the written consent of the Credit Grantor.

 

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	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
25 Special Arrangement on Payment

 

If
the Credit Applicant withdraws or instructs the transaction object to transfer all or part of the credit funds to other accounts
of the Credit Applicant or other third-party accounts unrelated to the transaction without authorization, or if the credit funds
are returned to the account of the Credit Applicant for any reason after payment and used without the written consent of the Credit
Grantor, it shall be deemed that the Credit Applicant has diverted the credit funds under this Agreement for other purposes and
has breached the Agreement.

 

Terms
of Maximum Guarantee

 

Article
26 Agreement on Guarantee

 

(1)
The Credit Grantor is the Secured Party, and its security rights shall include mortgage, pledge and other security rights. The
Guarantor, Mortgagor, Pledgor and other guarantee providers shall be collectively referred to as the Guarantor, and the mortgaged
property, pledge and other guaranties and rights shall be collectively referred to as the Guaranty. For details of the guarantee,
please refer to Article 8 in this Agreement and the List of Guaranty attached to this Agreement.

 

(2)
Scope of guarantee: please refer to Article 12 of this Agreement for details of all debts under this Agreement.

 

(3)
Period of guarantee: if the method of guarantee is adopted, the period of guarantee shall be two years from the effective date
of this Agreement to the maturity date of it; if the methods of mortgage, pledge or others are adopted, the period of guarantee
shall be from the effective date of this Agreement to the repayment of all debts under this Agreement.

 

(4)
The guarantee under this Agreement shall be independent, valid, irrevocable and unconditional, and the guarantee liabilities of
Guarantor shall not be reduced or exempted due to the following circumstances.

 

		1).	Fraud,
reorganization, suspension of business, bankruptcy or change or loss of civil capacity of the Credit Applicant or other guarantors;

 

		2).	If
the Credit Applicant or other guarantors violate the Agreement, the Credit Grantor takes sanction measures for breach of agreement;

 

		3).	If
the Credit Applicant and the Credit Grantor reach a reforming, reorganization or settlement agreement on the debts under this
Agreement;

 

		4).	If
this Agreement is partially or completely invalid for any reason.

 

		5)	If
there are multiple guarantees under this Agreement, each guarantor shall independently bear joint and several guarantee liabilities
for all arrears under this Agreement. If the Credit Applicant breaches the Agreement, the Credit Grantor shall have the right
to directly require each guarantor to immediately perform the guarantee liabilities individually or jointly. The Credit Grantor
shall have the right to waive, change or relieve the guarantee liabilities of one guarantor, and the other guarantors shall still
perform the guarantee liabilities according to the agreement in this Agreement.

 

		6)	If
it is necessary to handle the formalities on mortgage registration, pledge registration or other guarantee registration and notarization
in accordance with law, the Guarantor shall handle it in a timely manner according to the requirements of the Credit Grantor,
and the relevant expenses shall be borne by the Guarantee. On the date of completing registration, the original documents of Property
Right Certificate of Mortgaged Property or Certificate of Use, Pledged Property, Certificate of Rights, other real right guarantee
certificates on guaranties and registration certificate shall be possessed and kept by the Credit Grantor.

 

		7)	In
case of major changes or influences in the Guarantee or the Guaranty, or other circumstances that may affect the guarantee ability,
the Credit Grantor shall have the right to require the Credit Applicant or Guarantor to separately provide full guarantee and
cooperate in handling relevant formalities on assessment, registration, etc. If the Guaranty is damaged, lost or otherwise damaging
the creditor's rights of the Credit Grantor due to the fault of the Guarantor, the Guarantor shall bear joint and several liabilities
for the losses caused to the Credit Grantor regardless of the cause of the infringement and the infringer.

 

		8)	During
the performance of the Credit Agreement, it is unnecessary for the Credit Grantor and the Credit Applicant to obtain the consent
of the Guarantor for any change in the Loan Agreement except for the renewal of the credit or the increase of the loan principal,
and the Guarantor shall not be exempted from liabilities due to the change in the Credit Agreement.

 

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    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

		9)	The
Guarantor confirms that no matter what method the Credit Applicant and the Credit Grantor adopt to enter an item of expenditure
in the accounts, the amount, term and repayment method of credit funds including loans that do not exceed the credit line shall
be determined by the Credit Applicant and the Credit Grantor, and the Guarantor shall know all about this and have no objection.

 

		10)	If
the Credit Applicant fails to pay off the arrears on time and claims the guarantee right, resulting in the guaranties being sealed
up or detained by the people's court according to law, the Credit Grantor shall have the right to collect the natural income separated
from the guaranties and the legal income collected by the Guarantor on guaranties.

 

		11)	Without
the written consent of the Credit Grantor, the Guarantee shall not dispose of the Guaranty in any form such as transfer, division,
re-mortgage, debt repayment, etc. or set restrictions that hinder the Credit Grantor from exercising the guarantee right.

 

		12)	After
all the arrears under this Agreement are returned, the Real Right Guarantee Certificate, Pledged Property and Property Insurance
Policy kept by the Credit Grantor shall be returned to the Guarantor, and the Guarantee shall be assisted in handling the formalities
for cancellation of guarantee registration. If the ownership of the same Guaranty is more than two (inclusive), the Credit Grantor
shall be deemed to have fulfilled the obligation of return to all parties concerned if it returns the Real Right Guarantee Certificate,
Pledged Property and Property Insurance Policy to one of them.

 

Article
27 Other Arrangements on Assurance and Guarantee

 

1.
Even if there is a Credit Applicant or a third party who can provide assurance or material guarantee for the debts of the Credit
Applicant under this Agreement, the Credit Grantor shall still have the right of recourse to the Guarantor in advance without
exercising other guarantee rights in advance.

 

 2.
If the Guarantor fails to assume the guarantee liabilities as agreed in this Agreement, the Credit Grantor shall have the right
to deduct the money from the accounts opened by the Guarantor in all business agencies of Shenzhen Rural Commercial Bank until
all the arrears under this Agreement are paid off.

 

Article
28 Other Agreements on Mortgage Guarantee

 

1.
The Mortgagor shall obtain the written consent of the Credit Grantor before leasing the mortgaged property or pricing the mortgaged
property for investment.

 

2.
During the mortgage period, the mortgaged property shall be kept by the Mortgagor or its entrusted agent, who shall be responsible
for repairing and maintaining the mortgaged property and ensuring that the mortgaged property is in good condition, and shall
be subject to inspection by the Credit Grantor at any time.

 

Article
29 Other Agreements on Pledge Guarantee

 

1.
During the duration of the Agreement, if any loss occurs to the pledged property due to force majeure, the Credit Grantor shall
not be liable for any compensation.

 

2.
If the pledged property is a right, and if laws and regulations require that the pledge act be recorded in the certificate of
right, the pledge act shall be recorded.

 

Article
30 Realization of Real Right Guarantee (including Mortgage Right, Pledge Right, etc.)

 

If
the Credit Applicant or Guarantor breaches the Agreement, the Credit Grantor shall have the right to dispose of the guaranty in
accordance with the law in the manner deemed appropriate by the Credit Grantor and shall have priority in compensation. The Guarantor
shall assist the Credit Grantor to handle all necessary formalities as required by the Credit Grantor, and the disposition methods
include but are not limited to:

 

1.
The Credit Grantor directly discounts the guaranty, or auctions or sells the guaranty;

 

2.
Dispose the guaranty according to legal procedures.

  

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	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
31 If the Guarantor fails to fully perform the guarantee obligations agreed in this Agreement, the Guarantor shall not recover
or claim rights from the Credit Applicant, and the right of recourse obtained by the Guarantor according to law after fully performing
the guarantee liabilities shall not be superior to the right of recourse of the Credit Grantor for arrears under other agreements.

 

Article
32 Insurance

 

(1)
If required by the Credit Grantor, the Guarantor shall, before using the credit line, handle the insurance of the guaranty according
to the types of insurance, period of insurance, insured amount and qualification of Insurer required by the Credit Grantor, and
the original insurance policy shall be handed over to the Credit Grantor for safekeeping.

 

(2)
The insurance compensation shall give priority to the repayment of the arrears under this Agreement, the Guarantor shall irrevocably
authorize the Credit Grantor to receive the insurance compensation on its behalf and to have priority in repaying the secured
creditor's rights. The Credit Grantor shall have the right to dispose of the guaranty in accordance with the provisions of the
Property Law of the People's Republic of China and the Guarantee Law of the People's Republic of China for the insufficient
part, and the excess part shall be returned to the Beneficiary in the next order by the Credit Grantor.

 

(3)
The Guarantor shall ensure to pay the insurance premium on time and shall not cancel the insurance during the period of guarantee.
If the Credit Applicant fails to pay off the arrears during the credit period or at the expiration of the insurance period, and
if the insurance is interrupted or not renewed, the Credit Applicant shall have the right (but no obligation) to handle the insurance
on its behalf. All relevant expenses shall be paid by the Guarantor, and the Credit Applicant shall be jointly and severally liable
for repayment. The losses caused by the interruption of the insurance shall be assumed by the Guarantor.

 

Special
Representations and Warranties

 

Article
33 Special Representations and Warranties of the Credit Applicant and the Guarantor (hereinafter collectively referred to as the
"Declarant")

 

1.
The Declarant shall have the complete capacity for civil rights and civil conducts that will not affect the legal effect of this
Agreement.

 

2.
The Declarant promises to abide by the principle of good faith. All information provided by the Declarant to the Credit Grantor
before and after the granting of credit shall be true, accurate, complete, legal and effective, and shall not contain any major
errors or omissions that are inconsistent with the facts.

 

3.
The Declarant has been fully authorized or approved by the superior department or the unit's competent decision-making body to
sign this Agreement, and this Agreement shall have legal and effective binding force on the Declarant from the date of signing.

 

4.
The signing of this Agreement is the true intention of the Declarant, and there is no fraud or coercion.

 

5.
During the effective period of this Agreement, if any major event that affects the performance of its obligations under this Agreement
or may adversely affect the Declarant and its main property occurred or is planned to be carried out on the Declarant, the Declarant
shall immediately notify the Credit Grantor in writing and provide relevant explanatory materials, meanwhile, it shall actively
implement the guarantee measures for repayment of the arrears under this Agreement according to the requirements of the Credit
Grantor. Major events that may have adverse effects include:

 

a.
The alteration or modification of the shareholding structure, industrial and commercial registration, business scope and articles
of association of the Company, or the contracting, leasing, shareholding system reform, joint venture, merger (consolidation),
division, equity restructuring, joint venture, alteration of property right or adjustment of the business mode by cooperating
with foreign investors, etc.;

 

b.
The Declarant or its main management personnel (such as legal representatives, directors, financial officers and so on) are
involved in party (government) discipline investigation, major economic disputes, litigation, arbitration or criminal,
administrative punishment, seizure, detention or other disputes;

 

 c.
The Declarant is revoked with business license, dissolved, closed down, suspended, declared bankrupt, unemployed, dead (including
declared dead), or missing (including declared missing);

 

d.
The Declarant or its controlling shareholders and actual controllers have suffered heavy losses or deficits;

 

e.
The related party transactions accounting for more than 10% of the net assets of the Credit Applicant occur;

 

f.
The ownership disputes occur over guaranty, other major properties and settlement accounts, or the preservation measures are taken;

 

g.
Other major matters that may affect its solvency or guarantee ability, or circumstances that endanger the safety of the creditor's
rights of Credit Grantor.

 

6.
The signing of this Agreement or the performance of its obligations under this Agreement by the Declarant shall not violate any
other agreements entered into by the Declarant, nor shall it have any conflicts in laws and commercial interests with other agreements
entered into by the Declarant.

 

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    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

7.
The purpose of credit granting shall comply with laws, regulations and national policies. Credit Applicant shall not change the
purpose of the loan or use the loan for other purposes without authorization, and shall not use the loan for purposes prohibited
by laws and regulations such as investment in securities and equity.

 

8.
The laws and regulations of the state shall be strictly abode by to carry out production and business, and the formalities for
the annual inspection and annual review shall be handled on time.

 

9.
Any creditor's rights that have expired shall not be given up, and the existing main property and creditor's rights shall not
be disposed free of charge or in other inappropriate ways.

 

10.
The Guarantor shall have legal, complete and undisputed ownership or disposition of the guaranty, and the guaranty shall not be
used to provide guarantee for any third party before this Agreement.

 

11.
The Declarant shall not transfer any rights and obligations under this Agreement without the written consent of the Credit Grantor.

 

12.
During the credit granting period, the post-shipment inspection conducted by the Credit Grantor for the Declarant or guaranty
shall be unconditionally accepted, and all necessary materials including but not limited to financial statements, bank account
settlement statement, and tax payment vouchers shall be provided as required by the Credit Grantor.

 

Terms
of Rights and Obligations 

 

Article
34 The Credit Applicant shall enjoy the following rights

 

1.
Have the right to require the Credit Grantor to provide loans or other credits under the credit line according to the conditions
agreed in this Agreement;

 

2.
Have the right to use loans or other credits under the credit line as agreed in this Agreement;

 

3.
Have the right to require the Credit Grantor to keep confidential the production, operation, property, account and other information
provided by the Credit Applicant, except as otherwise agreed by laws, regulations and this Agreement.

 

Article
35 The Credit Applicant shall undertake the following obligations

 

1. Repay
the arrears in full and on time as agreed in this Agreement and the Loan Receipt; if the repayment date is the day of "T",
the Credit Applicant shall deposit sufficient funds to pay the arrears (up to the day of "T") into the account agreed
in this Agreement before the end of the counter business of the Credit Grantor on the day of "T-1", and shall irrevocably
authorize the Credit Grantor to directly deduct the arrears from the account; if the funds in the account are not sufficient for
the payment of the arrears, the Credit Grantor shall have the right to deduct the arrears from any other accounts opened by the
Credit Applicant in all business institutions of Shenzhen Rural Commercial Bank, and have the right to control the funds in the
relevant accounts, and the control amount shall be limited to the total amount of arrears; if the deducted amount is inconsistent
with the currency of this Agreement, the deducted amount shall be calculated according to the applicable exchange rate of the
corresponding currency announced by the Credit Grantor on the deduction date;

 

2.
Provide the documents and materials required by the Credit Grantor, as well as all the deposit banks, account numbers and deposits
and loan balances, to ensure the normal status of the loan issuing and repayment accounts (including not being sealed up and frozen)
and cooperate with the investigation, review and inspection of the Credit Grantor;

 

3.
Use the credit line according to the purpose agreed in this Agreement;

 

4.
Accept the inspection and supervision of the Credit Grantor on the use of its credit line and relevant production, operation and
financial activities, and provide the Credit Grantor with the financial statements at the end of the previous quarter and other
materials required by the Credit Grantor before the end of the first month of each quarter;

 

5.
The Credit Applicant shall notify the Credit Grantor in writing and obtain the consent of the Credit Grantor before implementing
the following acts:

 

a.
Apply for credit or loans from financial institutions other than the Credit Grantor.

 

b.
Provide any form of guarantee for third parties.

 

c.
Acts listed in Item a of Paragraph 5 of Article 33 in this Agreement.

 

6.
Assume the expenses incurred in credit evaluation, mortgage (pledge) evaluation, notarization and so on related to this Agreement.

 

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	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
36 The Credit Grantor shall enjoy the following rights

 

1.
If the material provided by the Credit Applicant does not meet the requirements of the Credit Grantor or the credit granting item
lags behind the progress of the use of credit funds, the Credit Grantor shall have the right to refuse the application for the
use of credit line and the payment entrustment of the Credit Applicant;

 

2.
Have the right to require the Credit Applicant to repay the arrears on schedule, and have the right to decide the deduction sequence
of various arrears;

 

3.
Have the right to require and supervise the Credit Applicant to use the credit line according to this Agreement or each specific
Agreement;

 

4.
Have the right to carry out post-shipment inspection on the Credit Applicant, Guarantor and Guaranty, and have the right to require
the Credit Applicant and Guarantor to eliminate any adverse effects on the performance of the obligations under this Agreement;

 

5.
The Credit Grantor may recover the loan and other credits in advance according to the withdrawal of funds from the Credit Applicant.

 

6.
If the Credit Applicant and the Guarantor fail to perform the stipulations and obligations of this Agreement, the Credit Grantor
shall have the right to impose the sanctions agreed in this Agreement.

 

Article
37 The Credit Grantor shall undertake the following obligations

 

1.
Provide credit to the Credit Applicant within the credit line according to the stipulations of this Agreement, each specific Agreement
and receipt for a loan;

 

2.
Have to keep confidential the assets, production, operation and finance of the Credit Applicant and the Guarantor, except for
the use of the Credit Grantor due to relevant business needs and otherwise provided by laws and regulations.

 

Article
38 The Guarantor shall enjoy the following rights

 

1.
Know the arrears under this Agreement and the repayment of the Credit Applicant from the Credit Grantor.

 

2.
Have the right to require the Credit Grantor to keep confidential the production, operation, property, account and other information
provided by the Guarantor, except as otherwise agreed by laws, regulations and this Agreement.

 

3.
Have the right of recourse according to law after fully performing the guarantee responsibilities and obligations under this Agreement.

 

Terms
of Default

 

Article
39 If the Credit Applicant or Guarantor fails to perform any agreement in this Agreement, or if the "special representations
and warranties" made by the Credit Applicant or Guarantor are false or faulty or are not performed, it shall be deemed as
a breach of Agreement and the Credit Applicant or Guarantor shall bear the liability for breach of Agreement according to law.

 

Article
40 Without the written consent of the Credit Grantor, the Credit Applicant and the Guarantor shall not terminate this Agreement
for any reason including but not limited to the breach of Agreement by either party to the Agreement.

 

Article
41 Under the following circumstances, the Credit Grantor shall have the right to suspend or terminate the Agreement, announce
the early maturity of all loans already issued, and stop issuing the loans not yet issued. The Credit Applicant shall immediately
repay the loans already issued, other credits and other arrears as required by the Credit Grantor, and the Guarantor shall immediately
perform the guarantee liabilities as required by the Credit Grantor:

 

1.
The credit status of the Credit Applicant decreases or the credit record deteriorates;

 

2.
The Credit Applicant or Guarantor fails to perform the special terms agreed in the Article 11 of this Agreement;

 

3.
Part of the Agreement is invalid or violates laws and regulations for any reason;

 

4.
The credit granting behavior under this Agreement does not conform to the provisions of the new laws and regulations due to legislative
changes;

 

5.
Changes in national laws and regulations or local government policies (including the financial management policies of the People's
Bank of China, China Banking Regulatory Commission and other regulatory agencies), leading to changes in the credit policy of
the Credit Grantor or violations of relevant policies and regulations in this Agreement.

 

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	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
42 If the Credit Applicant and the Guarantor breach the Agreement, the Credit Grantor shall have the right to impose the following
sanctions respectively or simultaneously. The Credit Applicant and the Guarantor have no objection to this:

 

1.
Require the Credit Applicant and the Guarantor to correct the acts breaching the Agreement or increase the guarantee measures
for repayment of arrears under this Agreement;

 

2.
Reject any application for the use of credit line by the Credit Applicant;

 

3.
Demand the Credit Applicant to repay or repay in advance the loans, arrears and other credits;

 

4.
Directly deduct the deposits of the Credit Applicant or Guarantor in any account opened by all business institutions of Shenzhen
Rural Commercial Bank to pay off the arrears of the Credit Applicant, which shall not constitute an obligation;

 

5.
Have the right to demand the Guarantor to perform the guarantee liabilities and pay off all the arrears under this Agreement on
behalf of it or in advance;

 

6.
Have the right to charge liquidated damages not exceeding 10% of the amount of the loan that the Credit Applicant fails to pay
and use as agreed;

 

7.
Suspend/terminate the execution of the Agreement or unilaterally terminate the Agreement;

 

8.
Have the right to implement credit sanctions in accordance with relevant regulations of the People's Bank of China;

 

9.
Collect by carrying out legal procedures in accordance with the law.

 

Article
43 In case of any of the following circumstances, the Credit Grantor shall have the right to immediately bring a lawsuit or arbitration
to collect the loan and other arrears:

 

1.
The Credit Applicant fails to repay the loan principal and interest in full and on time as agreed in this Agreement;

 

2.
The Credit Applicant or Guarantor provides false loan application materials or post-shipment inspection materials to the Credit
Grantor;

 

3.
The Credit Applicant fails to use the loan for the purpose agreed in this Agreement or fails to make payment according to the
agreed payment method;

  

4.
The Credit Applicant or Guarantor breaches the Agreement and fails to correct, repay or assume the guarantee liabilities as required
by the Credit Grantor;

 

5.
The Credit Applicant or Guarantor breaches the Agreement and the Credit Grantor believes that it damages its legitimate rights
and interests.

 

Article
44 During the performance of this Agreement, the Credit Grantor's consent to bear, extend a time limit or postpone the performance
of any breach of Agreement by the Credit Applicant or Guarantor, or the postponing of the execution of the rights and interests
or that the Credit Grantor shall enjoy under this Agreement shall not affect, damage or restrict the rights and interests that
the Credit Grantor shall enjoy in accordance with the law or under this Agreement, nor shall it be regarded as the permission
or recognition of the Credit Grantor for any breach of Agreement, or the Credit Grantor's waiver of the right to take actions
against the existing or future breach of Agreement.

 

Other
Terms

 

Article
45 Requirements for the Credit Grantor, Credit Applicant and Guarantor on the Notice Related to this Agreement.

 

1.
The Credit Grantor's notice or request to the Credit Applicant and Guarantor may be delivered by personal delivery, letter, media
(including the Credit Grantor's website, the same below), e-mail, short message, telephone, fax, etc. If the letter is sent by
registered mail or express delivery, it shall be deemed to have been delivered three days after it is sent; if delivered by hand,
the receipt of the recipient shall be deemed to have been served, and if the recipient refuses to accept it, it shall be deemed
to have been served on the date of rejection.

 

2.
The notice or request of the Credit Applicant and each guarantor to the Credit Grantor shall be made in writing and shall not
be deemed to have been delivered until the Credit Grantor actually signs for it.

 

3.
The address of the Credit Grantor shall be subject to the stipulations in this Agreement, and any change shall be announced in
the media. If the Credit Applicant or Guarantor is a non-natural person, the correspondence address shall be subject to the address
recorded on the legal registration certificate; if it is a natural person, the address or ID card address recorded in the information
provided by the such natural person to the Credit Grantor shall prevail; if there is any change, the Credit Grantor shall be notified
in writing.

 

     10

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Article
46 The following documents or annexes (if any) shall be an integral part of this Agreement and shall have the same legal effect.

 

1.
The specific Business Agreement, Loan Receipt, Guaranty List, Letter of Declaration, Letter of Undertaking and so on under this
Agreement;

 

2.
Written Supplementary Agreement/Agreement reached by the parties on the matters not covered and changes in this Agreement;

 

3.
All kinds of applications and power of attorney submitted by the Credit Applicant and the Guarantor to the Credit Grantor and
confirmed and approved by the Credit Grantor.

 

Article
47 The signing, interpretation and matters not covered in this Agreement shall be governed by the laws of the People's Republic
of China. Any dispute in the performance of the Agreement shall be settled by the parties through negotiation. If the parties
fail to reach an agreement through negotiation, the dispute shall be settled in the manner agreed in Article 10 of this Agreement.
During the period that the dispute fails to be unresolved, the parties shall continue to perform other clauses stipulated in the
Agreement, except for matters in dispute.

 

Article
48 Supplementary Provisions

 

(1)
Entry into Force and Invalidation of the Agreement

 

This
Agreement shall come into force after the personnel of each party with the right of signing have signed it (if the party concerned
is a legal person or other organization, its official seal or special seal for Agreement shall be affixed) and the guarantee procedures
agreed in Article 8 of this Agreement have been handled, and it shall be automatically invalid until the arrears under this Agreement
are paid off.

  

(2)
Agreement Modification

 

1.
If either party needs to change the terms of this Agreement, it must obtain the written consent of the other party unless otherwise
agreed in this Agreement.

 

2.
The Credit Grantor may transfer its rights under this Agreement to other parties without obtaining the consent of the Credit Applicant
or each guarantor. The Credit Grantor shall notify the Credit Applicant and each guarantor of the transfer of rights, and the
notice may be made in writing, in the form of a public announcement in the media, or in other forms. If the Credit Grantor needs
to change the guarantee registration for the transfer of rights, the Guarantor shall cooperate.

 

3.
If the Credit Applicant intends to transfer the debts under this Agreement to a third party, it shall obtain the written consent
of the Credit Grantor and each guarantor, and this Agreement shall continue to be valid until the Transferee and the Credit Grantor
re-sign the Agreement.

 

(3)
The Credit Applicant and the Guarantor irrevocably authorize the Credit Grantor to provide their identity information, loan information
and other credit information to the People's Bank of China and other credit rating agencies approved by the government. All consequences
arising from the use of the above-mentioned information by the above-mentioned institutions for any use or purpose or from the
provision of the above-mentioned information to the outside persons shall be handled by the above-mentioned institutions through
their own negotiation and have nothing to do with the Credit Grantor.

 

(4)
If there is no definite evidence to the contrary, both the Credit Applicant and the Guarantor shall recognize the arrears, repayment
records or vouchers provided by the Credit Grantor, and shall not raise any objection for the above records and vouchers unilaterally
produced by the Credit Grantor.

 

     11

     

    

 

	Shenzhen
    Rural Commercial Bank	Innovating
    Finance, and Serving Community

 

Important
Note:

 

All
terms of this Agreement have been fully negotiated by the parties. The Credit Grantor (hereinafter referred to as "the Bank")
has drawn the other parties concerned to read all the terms and conditions and paid special attention to the terms and conditions
regarding the exemption or limitation of the Bank's responsibilities, the certain rights unilaterally possessed by the Bank, the
increase of the responsibilities of the other parties concerned or the terms limiting the rights of the other parties concerned,
and has made a full and accurate understanding of them. The Bank has made corresponding explanations on the terms of this Agreement
at the request of other parties concerned, and the parties to the Agreement have the same understanding of the terms of this Agreement.

 

	Signature
    and Seal Column of the Parties: 
	Credit
    Grantor (Lender): Longhua Sub-branch of Shenzhen Rural Commercial Bank (Seal Affixed)

	Legal
    Representative/Person in Charge:	/s/
    Liu Yachun	 

 

	Credit
    Applicant (Borrower): United Time Technology Co., Ltd. (Seal Affixed)

	Legal
    Representative/Person in Charge:	/s/
    Minfei Bao	 

 

	Guarantor:
    United Time Technology Co., Ltd. (Seal Affixed)

	Legal
    Representative/Person in Charge:	/s/
    Minfei Bao	 

  

	August 1, 2018
	Agreement Version No.: Credit Agreement First Edition in 2016 Valid Date: July 2016 
	 	Registrant:
    Fujiao Hou

 

 

 12

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