Document:

EXHIBIT 4.32

 

Exclusive Purchase Agreement

 

This Exclusive Purchase Agreement (this
“Agreement”) is entered into on May 27, 2015 in Shanghai China between

 

Party A

 

Shanghai HJX Digital Technology Co., Ltd.

 

Domicile: No.55, Lane
1135, Jiasong Zhong Road, Huaxin Town, Qingpu District, Shanghai

 

Party B

 

Kuan Song

 

	ID Card No.:	 	410503198209212012
	Address:	 	Room 2202, Floor 5, Building 25, Ganlu Garden Nan Li, Chaoyang District, Beijing

 

Pan Zong

 

	ID Card No.	 	ID: 410901198605200020
	Address:	 	Room 9, Unit 1, Building 4, Yard 7, Kaizhou Road, Hualong District, Puyang City, Henan Province

 

Party C

 

Shanghai HJX Electronic Technology Co., Ltd. (the “HJX
Electronic”)

 

Domicile: Room 187,
Area E, First Floor, Building 1, No.1288, Huateng Road, Huaxin Town, Qingpu District, Shanghai

 

Party A, Party B and Party
C will each be referred to as “a Party” herein and collectively as “the Parties”.

 

Whereas

 

	(1)	Party B constitutes two shareholders of HJX Electronic, with Kuan Song holding 90% of its equity, and Pan Zong holding 10%;

 

	(2)	Party A and Party B have entered into a Loan Agreement dated May 27, 2015 (the “Loan Agreement”), pursuant to which Party A shall provide loans to Party B for Party B to acquire HJX Electronic’s equity and to increase HJX Electronic’s registered capital;

 

	(3)	Party A and Party C entered into an Exclusive Technical Service Agreement dated  May 27, 2015  (the “Service Agreement”), pursuant to which Party A shall provide to Party C technical services;

 

	(4)	Party A and Party B entered into an Equity Pledge Agreement dated May 27, 2015  (the “Pledge Agreement”), pursuant to which Party B shall pledge all its equity interest in Party C (including Party B’s equity interest in the capital increase of Party C) to Party A.

 

Therefore, in consideration of the foregoing premises
and the mutual promises set forth below, the Parties agree as follows:

 

	1.	Equity Purchase

 

	(1)	Party B hereby irrevocably grants to Party A the right to purchase at any time, or designate any third party to purchase, all or part of Party B’s equity interest in Party C, provided permitted under Chinese laws and regulations. Apart from Party A or any third party designated by Party A, no other person shall have the right to purchase such equity interest. Party C agrees to such grant by Party B to Party A. For the purpose of this Agreement, a “third party” or a “person” may be a natural person, company, partnership, enterprise, trust agency or other non-corporate entity.

 

	(2)	To the extent permitted under Chinese laws and regulations, Party A shall exercise such right to purchase the equity interest by written notice to Party B specifying the amount of equity to be purchased;

 

     

     

    

 

	(3)	Unless otherwise required under Chinese laws and regulations, the transaction price for the equity transfer hereunder shall be the lowest price permitted under Chinese law;

 

	(4)	All the money obtained by Party B from transfer of its interest in Party C hereunder shall be used to satisfy Party B’s payment obligations under the Loan Agreement.

 

	2.	Representations and Warranties

 

	(1)	Party B and Party C hereby warrants that, with respect to Party C,

 

	 	a.	without Party A’s prior written consent, they shall not supplement or amend its articles of association or rules of the company in any manner, nor shall they increase or decrease its registered capital or change its shareholding structure in any manner;

 

	 	b.	they will prudently and effectively maintain its business operations according to good financial and business standards;

 

	 	c.	without Party A’s prior written consent, they shall not transfer, mortgage or otherwise dispose of the lawful rights and interests to and in its assets or incomes, nor shall they encumber their assets and income in any way that would affect Party A’s security interest;

 

	 	d.	they shall not incur or succeed to any debts, nor shall they provide guarantee for or permit the existence of any debts, except those that are incurred during its normal business operation or agreed to or confirmed by Party A in advance;

 

	 	e.	without Party A’s prior written consent, they shall not enter into any material contract (exceeding RMB1,000,000 in value), unless it is necessary for the company’s normal business operation;

 

	 	f.	without Party A’s prior written consent, they shall not provide any loans or guarantee to any third party;

 

	 	g.	at Party A’s request, they shall provide Party A with all information regarding Party C’s business operation and financial condition;

 

	 	h.	they shall purchase insurance from insurance companies acceptable to Party A in such amounts and of such kinds as are customary in the region among companies doing similar business and having similar assets;

 

	 	i.	without Party A’s prior written consent, they shall not acquire or consolidate with any third party, nor shall they invest in any third party;

 

	 	j.	they shall promptly notify Party A of any pending or threatened lawsuit, arbitration or administrative dispute which involve Party C’s assets, business or incomes;

 

	 	k.	without Party A’s prior written consent, they shall not distribute any dividends to the shareholders in any manner, and, at Party A’s request, they shall promptly distribute all distributable dividends to the shareholders; and

 

	 	l.	at Party A’s request, they shall appoint, and appoint only, the directors of the company who are nominated by Party A;

 

	(2)	Party B undertakes that:

 

	 	a.	apart from relevant provisions in the Equity Interest Pledge Agreement between Party A and Party B, without Party A’s prior written consent, it shall not sell, transfer, mortgage or otherwise dispose of its lawfully acquired equity interests in Party C; nor shall it place encumbrances on such equity interest that would affect the security interests of Party A ;

 

	 	b.	in addition to complying with relevant provisions in the Equity Interest Pledge Agreement between Party A and Party B, it shall cause the directors appointed by it not to approve any sell, transfer, mortgage or otherwise disposal of its lawfully acquired equity interests in Party C, nor shall it place encumbrances on such equity interests that would affect the security interest of Party A;

 

     

     

    

 

	 	c.	it shall cause the Party C’s directors appointed by it not to approve any acquisition of, any consolidation with, or any investment in any third party without Party A’s prior written consent;

 

	 	d.	it shall promptly notify Party A of any pending or threatened lawsuit, arbitration or administrative dispute involving its equity interests in Party C;

 

	 	e.	it shall cause Party C’s directors appointed by it to vote for the equity transfer contemplated herein;

 

	 	f.	without Party A’s prior written consent, it shall prohibit from committing any act or omission that would materially affect Party C’s assets, business or liabilities;

 

	 	g.	it shall appoint, and appoint only, Party C’s directors that are nominated by Party A;

 

	 	h.	to the extent permitted by the laws of China, and at any time upon Party A’s request, it shall promptly and unconditionally transfer all of its equity interest in Party C to Party A or a third party designated by Party A , and cause Party C’s other shareholders to waive their rights of first refusal with respect to such transfer;

 

	 	i.	to the extent permitted by the laws of China, and at any time upon Party A’s request, it shall cause Party C’s shareholders to promptly and unconditionally transfer all of their equity interests in Party C to Party A or a third party designated by Party A, and waiver their rights of first refusal with respect to such transfer; and

 

	 	j.	it shall strictly comply with the provisions of this Agreement, the Equity Pledge Agreement and the Loan Agreement and effectively perform its obligations hereunder and thereunder, and shall be prohibited from committing any act or omission which may affect the validity or enforceability of the above agreements.

 

	3.	Taxes and Fees

 

The Parties shall pay, in accordance with
relevant Chinese laws, their respective equity transfer and registration taxes and other charges arising from their preparation
and execution of this Agreement and the Equity Transfer Agreement and the completion of the transactions contemplated herein and
therein.

 

	4.	Notice

 

Unless there is a written notice regarding
change of address, all notices relating to this Agreement shall be addressed in accordance with the following and delivered by
personal delivery, fax or registered mail. If notice is given through registered mail, the date on the confirmation slip shall
be deemed the date of delivery. If notice is given by personal delivery or via fax, the date of actual receipt shall be deemed
the date of delivery. In the case of delivery via fax, the original copy of the notice shall be sent to the following relevant
address by personal delivery or by registered mail.

 

Party A

 

Shanghai HJX Digital Technology Co., Ltd.

 

Domicile: No.55, Lane
1135, Jiasong Zhong Road, Huaxin Town, Qingpu District, Shanghai

 

Party B

 

	Kuan Song	 	 
	Address:	 	Room 2202, Floor 5, Building 25, Ganlu Garden Nan Li, Chaoyang District, Beijing
	 	 
	Pan Zong	 	 
	Address:	 	Room 9, Unit 1, Building 4, Yard 7, Kaizhou Road, Hualong District, Puyang City, Henan Province

 

Party C

 

Shanghai HJX Electronic Technology Co., Ltd.

 

     

     

    

 

Domicile: Room 187,
Area E, First Floor, Building 1, No.1288, Huateng Road, Huaxin Town, Qingpu District, Shanghai

 

	5.	Governing Law and Dispute Resolution

 

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

 

	(2)	Disputes in connection with or arising out of the performance
    of this Agreement shall first be resolved through consultation between the Parties. If a dispute cannot be
    resolved within 30 days after consultation begins, either Party may bring the dispute to the China International Economic and
    Trade Arbitration Commission in Beijing for arbitration under the auspices of three arbitrators designated in accordance with
    its rules. The arbitration award shall be final and binding upon the Parties.

	(3)	Except the matters in dispute, the Parties shall continue to perform other provisions hereof pending the resolution of the dispute.

 

	6.	Miscellaneous Provisions

 

	(1)	This Agreement shall be concluded after the signatures or seals of the Parties are affixed to it. The Parties agree that this Agreement will become effective as of the execution date. The term of this Agreement shall be ten years starting from the effective date. Unless Party A terminates this Agreement by written notice three months before the expiration of the term, this Agreement shall automatically be renewed for a term of another ten years.

 

	(2)	Any successor to a Party hereto shall assume the rights and obligations of such Party as if it were a Party to this Agreement.

 

	(3)	Any amendment or supplement hereto shall not be valid without a written agreement between the Parties.

 

	(4)	The invalidity of any part of this Agreement shall not affect the validity of any other part hereof.

 

	(5)	This Agreement is executed in Chinese in four equally valid original copies, with one for each of the Parties. The Parties may execute more counterparts if necessary.

 

	(6)	This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof, and supersedes all oral and written understandings and agreements between the Parties with respect to the subject matter prior to the effectiveness of this Agreement. This Agreement shall not be amended without the consent of Party B’s auditing committee or other independent institution of its board of directors.

 

[The remainder of this page is left intentionally
blank]

 

(This is the signature page,
which does not contain any part of the text of this Agreement)

 

Shanghai HJX Digital Technology Co., Ltd. (Corporate Seal)
(chopped) 

 

Legal Representative: /s/ Yang Dongjie
(signature)

 

/s/ Kuan Song (signature)

 

/s/ Pan Zong (signature)

 

Shanghai HJX Electronic Technology Co., Ltd. (Corporate Seal)
(chopped) 

 

Legal Representative: /s/ Yang DongjieEXHIBIT 4.33

 

Power of Attorney

 

This Power of Attorney is signed by the
following parties in Shanghai on May 27, 2015:

 

Principals

 

	Principal A:	Kuan Song

 

	ID Card No.:	410503198209212012

 

	Address:	Room 2202, Floor 5, Building 25, Ganlu Garden Nan Li, Chaoyang District, Beijing

 

	Principal B:	Pan Zong

 

	ID Card No.:	410901198605200020 

 

	Address:	Room 9, Unit 1, Building 4, Yard 7, Kaizhou Road, Hualong District, Puyang City, Henan Province

 

Agent 

 

	Agent:	Weiji Gao, Chinese citizen, ID card no.: 31010719730410463X 

 

Whereas:

 

	(1)	The Principals are shareholders of Shanghai HJX Electronic Technology Co., Ltd. (“HJX Electronic”) and Kuan Song and Pan Zong hold a 90% interest and a 10% interest in HJX Electronic respectively;

 

	(2)	Shanghai HJX Digital Technology Co., Ltd. (“HJX Digital”) and the Principals have entered into the Management and Operation Agreement and agree that persons designated by HJX Digital or another enterprise approved by HJX Digital will attend the shareholders’ meeting of HJX Electronic and exercise voting rights;

 

	(3)	The Agent is designated by HJX Digital or another enterprise approved by HJX Digital.

 

Now, therefore, Principal A hereby irrevocably
authorizes the Agent and Principal B hereby irrevocably authorizes the Agent to exercise all such voting rights as enjoyed by Principal
A and Principal B respectively in the shareholders’ meeting of HJX Electronic in accordance with laws and the articles of
association of HJX Electronic, including, but not limited to, the voting right with respect to the sale or transfer of all or any
equity interest held by the Principals in HJX Electronic and the designation and appointment of directors in the shareholders’
meeting of HJX Electronic, etc., as authorized representatives of the Principals.

 

This Power of Attorney is a “full
discretionary power of attorney”, that is, the Agent may exercise the shareholders’ rights on behalf of the Principals
at its own discretion and the Principals will not issue new instructions or requests to the Agent for the exercising of such shareholders’
rights in HJX Electronic, provided that the Agent shall exercise such shareholders’ rights on behalf of the Principals in
accordance with the company law of China and the articles of association of HJX Electronic.

 

This Power of Attorney is subject to the
condition that the Agent acts as a director or holds another position with HJX Digital or another enterprise approved by HJX Digital
and HJX Digital agrees to such authorization of power. This Power of Attorney shall be terminated automatically in the event that
the Agent no longer acts as a director or holds any position with HJX Digital or another enterprise approved by HJX Digital, or
HJX Digital or another enterprise approved by HJX Digital terminates its appointment of the Agent or otherwise designates another
person. The Principals will then otherwise authorize other person designated by HJX Digital or another enterprise approved by HJX
Digital to exercise all such shareholders’ voting rights as enjoyed by the Principals in the shareholders’ meeting
of HJX Electronic.

 

     

     

    

 

This Power of Attorney shall be concluded
after it is signed by the Principals and the Principals agree that this Power of Attorney shall take effect as of the execution
date. The Agent acknowledges the shareholders’ resolution made by the Principals before the date of this Power of Attorney
and the Principals shall be deemed to have complied with this Power of Attorney. Unless otherwise provided herein or the Management
and Operation Agreement between HJX Electronic and HJX Digital is early terminated, this Power of Attorney shall continue to be
valid for ten years from the date hereof. The term of this Power of Attorney shall be automatically extended for another ten years
except the Agent terminates this Power of Attorney in writing three months before its expiration.

 

The Principals hereof shall truthfully
keep their heirs informed of all contents with respect to this Power of Attorney and undertake that their heirs will succeed to
all obligations hereunder.

 

This Power of Attorney constitutes the
entire agreement between the parties with respect to the subject matter hereof and supersedes all prior understandings and agreements,
oral or written, between the parties with respect to the subject matter hereof. This Power of Attorney shall not be amended without
the consent of the auditing committee or other independent body of the board of directors of HJX Digital.

 

[Signature Page of the Power of Attorney]

 

/s/ Kuan Song (Signature)

 

/s/ Pan Zong (Signature)

 

Agent: /s/ Weiji Gao (Signature)

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