Document:

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

Loan
Contract

 

Contract
No.: DZJK20160318-001

Signing
Date: March 18, 2016

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

Contents

 

Article
1 Definition and Explanation

Article
2 Loan

Article
3 Preconditions of Drawing

Article
4 Drawing

Article
5 Interest Rate, Interest and Expenses

Article
6 Repayment

Article
7 Prepayment

Article
8 Statement and Guarantee

Article
9 Commitment

Article
10 Breach and Remedy for Breach

Article
11 Execution, Change and Dissolution

Article
12 Dispute Resolution

Article
13 Miscellaneous

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

Lender:
Sheng Ying Xin (Beijing) Management Consulting Co., Ltd. (hereinafter referred to as “Party A”)

Office
Site: Unit 13-14, Room 1-1501, 1# Building, No. 1 East Third Ring Middle Road, Chaoyang District, Beijing

Legal
Representative (or Person in Charge): Lin Jianxin

 

Borrower:
Xiamen Jingsu Trade Co., Ltd. (hereinafter referred to as “Party B”)

Office
Site: P49, 5F, No. 22 Dongpu Road, Siming District, Xiamen

Legal
Representative (or Person in Charge): Xu Qingcong

 

For
the purpose stated in Article 2.1 of this contract, Party B proposes application for loan to Party A. Both parties, based on equality
and consensus, hereby conclude and agree to subject to this contract. Party A agrees to provide fixed-term loan, totally RMB 20,000,000
Yuan (In Words: RMB Twenty Million Yuan Only), to Party B under clauses listed in this contract.

 

Article
1 Definition and Explanation

 

1.1
In this contract, the connotations of the following terms are as below:

 

A.
Interest payment date: Party B pays interests in corresponding interest period to Party A within the interest period.

 

B.
Interest period: the period from the drawing date to any time within the maturity date when Party B repays account receivable
at lump sum or by installment, and pays interests of account receivable. Where the interest repayment date is not banking day,
it will be postponed to the next banking day.

 

C.
Execution date of contract: March 18, 2016

 

D.
Drawing day: the date when the borrower actually draws loan under this contract.

 

E.
Expiry date of contract: Sep. 17, 2016

 

F.
Banking day: the business day of banks in the People’s Republic of China (excluding Saturday or Sunday).

 

1.2
Explanations

 

A.
The contents and titles in this contract are only for the convenience of reference, and do not affect explanation of any clause
in this contract.

 

B.
“Change” contains modification, supplementation, replacement and updating.

 

C.
Where the drawing, repaying and interest payment day is not on banking days, it will be postponed to the next banking day.

 

D.
Any contracting party of this contract contains its inheritor and transferee.

 

Article
2 Loan

 

2.1
The loan amount under this contract shall be RMB 20,000,000 Yuan (In Words: RMB Twenty Million Yuan Only). The loan is a fixed-term
loan, and will be used by Party B for its daily operation and market expansion.

 

2.2
The loan term under this Contract shall be 184 days from the actual drawing date.

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

Article
3 Preconditions of Drawing

 

3.1
The following preconditions must be satisfied before Party B draws the loan. Otherwise, Party A has no obligation to issue any
sum to Party B.

 

A.
This contract has been signed officially;

 

B.
Party B commits no default agreed in or with regard to this contract;

 

C.
Other preconditions for drawing proposed by Party A have been satisfied; and

 

D.
This sum of loan has finally passed internal review procedure through various investigations and reviews carried out by Party
A.

 

Article
4 Drawing

 

4.1
Party B will draw the full amount of loan under this contract at lump sum or by several times after this contract takes effect.

 

4.2
After drawing procedures are handled by Party B, Party A shall transfer the loan sum to designated account of Party B in accordance
with the drawing date confirmed in this contract and corresponding application. The specific information is as follows:

 

Opening
Bank: Bank of Communications Xiamen Branch

Account
Name: Xiamen Jingsu Trade Co., Ltd.

Account
No.: 3520 0066 1011 5111 20159

 

Article
5 Interest Rate, Interest and Expenses

 

5.1
The interest rate of loan under this contract shall be confirmed according to the following A method:

 

A.
Fixed loan interest rate with annual rate of 14%;

 

B.
Fixed loan interest rate with annual rate of 16%;

 

C.
Fixed loan interest rate with annual rate of 18%;

 

5.2
The interest of loan under this contract shall be settled according to interest period. Party B must guarantee to transfer the
interests of corresponding interest period to and arrive the designated account of Party A on interest date. The specific information
is as follows:

 

Opening
Bank: Agricultural Bank of China Beijing Shijingshan Sub-branch

Account
Name: Sheng Ying Xin (Beijing) Management Consulting Co., Ltd.

Account
No.: 11-032201040007599

 

The
calculation method of interests shall be: principal × loan interest rate × days of every interest period / 360.

 

5.3
Party B shall pay interests of the interest period to Party A on every interest payment day. At maturity, the principal and interests
of the loan shall be fully paid.

 

5.4
Expenses with regard to this contract generated by requirements of laws and regulations shall be undertaken by Party B.

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

Article
6 Repayment

 

6.1
Party B selects to repay the principal of loan under this contract according to the following B method:

 

A.
Repay at lump sum on the expiry date of the contract;

 

B.
Repay at lump sum or by several times in any time within the expiry date of the contract;

 

6.2
Party B shall transfer full amount of interests payable and principal in current perm to the account designated by Party A, and
guarantee the amount arrives on the repayment day and interest payment day.

 

6.3
Where the amount transferred by Party B to designated account of Party A is insufficient to pay the due account payable under
this contract, Party A has the right to claim for unpaid amount from Party B.

 

Article
7 Prepayment

 

7.1
After the loan is issued, Party B can repay full amount or part of principal and interests of loan in advance. The prepaid principal
shall be no smaller than RMB 5 Million, and Party B shall notify Party A ten (10) banking days prior to the date of prepayment.

 

7.2
For prepayment, Party B shall pay off the due interests of account payable simultaneously as of the prepayment date.

 

Article
8 Statement and Guarantee

 

8.1
Party B shall make the following statements and guarantee to Party A:

 

A.
Party A is registered and incorporated in accordance with laws of the People’s Republic of China, and legally carries out
operating activities within the scope of business license;

 

B.
Party B is capable to perform rights and obligations under this contract;

 

C.
The signing and implementation of this Contract will not violate or collide with laws and administrative provisions that Party
B must comply with; the implementation of this contract will not make Party B violate other contract, incorporation files and
bylaws it should abide by;

 

D.
All materials provided by Party B to Party A should be authentic, accurate, and complete without any disguise;

 

E.
Party B should guarantee no repeated loan for the same project under this contract;

 

F.
Party B shall submit one report to Party A every half a year to introduce operating situations, project progress and fund use
of the Company; where Party B fails to open a bank account in local branch where Party A locates, Party B shall provide the fund
withdrawal account opened in other banks, and regularly provide information of fund transactions and relevant certificates;

 

G.
Xiamen Jingsu Trade Co., Ltd. will provide 100% equity guarantee.

 

Article
9 Commitment

 

9.1
Party B shall make the following commitments to Party A before obligations under this contract are completely performed:

 

A.
Party B will pay full amount of principal and interests and other account payable agreed in this Contract in time;

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

B.
The debts under this Contract are equal with other debts of Party B with the same level, unless otherwise regulated by any applicable
laws;

 

C.
Party B shall provide financial statements and other materials showing solvency of Party B including all bank accounts, account
No., and balance in time as required by Party A, and actively cooperate with supervision and inspection no loan use carried out
by Party A;

 

D.
In case of financial status deterioration or other circumstances endangering loan safety, Party B shall notify Party A immediately,
and adopt effective measures to guarantee timely repayment of loan principal and interests;

 

E.
In case of any behavior which greatly affects solvency or changes operating mode of Party B (including but not limited shareholding
reform, contracting, lease, combination, separation, joint operation and foreign joint venture or cooperation), or changes in
scope of business and registered capital or equity, Party B shall notify Party A at least 30 days in advance and gain approval
of Party A. Where aforesaid behaviors may generate adverse impact on creditor’s rights of Party A, Party B shall adopt effective
remedy measures so that the loan under this contract can be repaid as scheduled;

 

F.
Party B shall immediately return principal and interests of loan in case of shutdown, dissolution, business suspension or business
license cancellation;

 

G.
Party B shall notify Party A in case of change in bylaws, legal representative, scope of business, communication address and other
significant matters;

 

H.
Party B shall notify Party A in time when involving or possibly involving serious economic disputes or litigation, arbitration
or other litigation or arbitration which may harm substantially or possibly rights under this contract.

 

9.2
Party A shall make the following commitments to Party B:

 

A.
Party A shall issue loan in time pursuant to this contract;

 

B.
Party B shall notify Party B about amount of due interest or principal and calculation basis five banking days prior to every
repayment day and interest payment day;

 

C.
Party B shall keep confidential the unclosed information in relevant documents, financial statements and other relevant data submitted
by Party B when performing obligations under this Contract, unless otherwise regulated by laws and regulations.

 

Article
10 Breach and Remedy for Breach

 

10.1
In case of the following circumstances, where Party A believes it is possible to remedy, Party B must adopt remedy measures satisfied
by Party A within regulated period of Party A. Otherwise, Party A has the right to stop issuing any unissued loan, announce acceleration
of maturity, and recover the issued full or part of loan in advance; and has the right to claim from the guarantor till the contract
is terminated:

 

A.
Party B fails to perform obligations under this contract or violates statements, guarantee and commitments made under this contract;

 

B.
Party B fails to repay any matured debts (including those announced acceleration of maturity), or Party B fails to perform or
violates any obligations or documents with regard to debts, guarantee or other obligations, or which may affect performance of
obligations under this contract;

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

C.
Party B suffers from any serious adverse changes, which may affect the ability to perform various obligations under this contract.

 

10.2
Where Party B fails to repay as scheduled upon maturity of loan (including those announced acceleration of maturity), additional
20% interests based on original interest rate from the overdue day shall be charged.

 

10.3
For interests that Party B fails to pay as scheduled during the loan term, the compound interest shall be charged according to
the interest rate agreed in this contract; for overdue debt, the compound interest shall be calculated according to the interest
rate confirmed in Article 11.2.

 

10.4
In case of one of the following cases, Party B shall undertake the additional expenses and losses caused hereby to Party A, provide
remedy measures in time according to requirements of Party A, and provide authentic and true data separately;

 

A.
Party B fails to provide financial statements and other data according to requirements of Party A, or fails to cooperate with
supervision and inspection on loan use carried out by Party A;

 

B.
The contents of documents, financial statements and other data provided to Party A are unauthentic;

 

C.
Party B fails to issue relevant notice according to agreements of this Contract, or the content of notice is inconsistent with
the fact.

 

Article
11 Execution, Change and Dissolution

 

11.1
This contract takes effect from the signing date of both contracting parties and terminates when all accounts payable are paid
off.

 

11.2
Any change of this Contract shall be made by both parties in writing through consensus. The agreement on change is one part of
this contract and of equal legal validity with this Contract. Before the agreement on change takes effect, this Contract is still
valid.

 

11.3
Invalidity or unenforceability of any clause of this contract will neither affect validity and enforceability of other clauses
nor affect validity of the entire contract.

 

11.4
The change and termination of this contract will not affect the rights of each contracting party to claim for losses. The termination
of this contract will not affect validity of clauses regarding dispute resolution in this contract.

 

Article
12 Dispute Resolution

 

12.1
The laws of the People’s Republic of China are applicable to conclusion, validity, explanation, performance and dispute
resolution. During contract performance, all controversies and disputes caused by or with regard to this contract shall be solved
by relevant parties through consultation. If consultation fails, the dispute can be submitted to the arbitration center, and solved
by arbitration where Party A locates (arbitration place). The arbitration award is final, and binding upon both parties.

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

Article
13 Miscellaneous

 

13.1
Party A’s failing to or partly exerting, or delaying to exert any right under this contract should neither be deemed as
waiver or change of the right or any other rights, nor affect further performance of the right or any other rights.

 

13.2
Without written agreements of Party A, Party B shall not transfer full or part of rights and obligations under this Contract.
Where Party A transfers the creditor’s rights under this Contract to a third party, it shall notify Party B in time.

 

13.3
All notices made based on this contract shall be delivered to the other party in writing.

 

13.4
The original of this Contract shall be prepared in Chinese and made in duplicate. Party A and Party B shall hold one copy each
with equal legal validity.

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

(This
page is intentionally left blank for signature)

 

Party
A: Sheng Ying Xin (Beijing) Management Consulting Co., Ltd. (Official Seal)

 

	Legal
    Representative (Authorized Agent): 		(Signature
or Seal)

 

Signing
Date: March 18, 2016

 

Party
B: Xiamen Jingsu Trade Co., Ltd. (Official Seal)

 

	Legal
    Representative (Authorized Agent): 		(Signature
or Seal)

 

Signing
Date: March 18, 2016

 

Signing
Place: Xiamen

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

	Appendix
    1	Contract
No. DZJK20160318-001 

 

Loan
Receipt (IOU)

 

The
borrower hereby borrowed RMB five million yuan (RMB 5,000,000 yuan) from Sheng Yingxin (Beijing) Management Consulting Co., Ltd.
for the period from March 18, 2016 to September 17, 2016.

 

The
borrower (seal): Xiamen Jingsu Trade Co., Ltd.

 

The
legal representative (seal):

March
24th, 2016

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

	Appendix
    2 	Contract
    No. DZJK20160318-001 

 

Loan
Receipt (IOU)

 

The
borrower hereby borrowed RMB five million yuan (RMB 5,000,000 yuan) from Sheng Yingxin (Beijing) Management Consulting Co., Ltd.
for the period from March 18 , 2016 to September 17 , 2016.

 

The
borrower (seal): Xiamen Jingsu Trade Co., Ltd.

 

The
legal representative (seal):

March
28th, 2016

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

	Appendix
    3 	Contract
    No. DZJK20160318-001 

 

Loan
Receipt (IOU)

 

The
borrower hereby borrowed RMB five million yuan (RMB 5,000,000 yuan) from Sheng Yingxin (Beijing) Management Consulting Co., Ltd.
for the period from March 18, 2016 to September 17, 2016.

 

The
borrower (seal): Xiamen Jingsu Trade Co., Ltd.

 

The
legal representative (seal):

March
31st, 2016

 

    	 	 	 

    	 	 	 

    

 

Sheng
Ying Xin (Beijing) Management Consulting Co., Ltd.

 

 

	Appendix
    4 	Contract
    No. DZJK20160318-001 

 

Loan
Receipt (IOU)

 

The
borrower hereby borrowed RMB three million yuan (RMB 3,000,000 yuan) from Sheng Yingxin (Beijing) Management Consulting Co., Ltd.
for the period from March 18 , 2016 to September 17 , 2016.

 

The
borrower (seal): Xiamen Jingsu Trade Co., Ltd.

 

The
legal representative (seal):

April
14th, 2016Sheng
Yingxin (Beijing) Management Consulting Co., Ltd. 

 

 

Appendix
5

 

Agreement
on Loan Term Extension

 

Lender:
Sheng Yingxin (Beijing) Management Consulting Co., Ltd. (hereinafter referred to as “Party A”)

Office
Site: Unit 13-14, Room 1-1501, 1# Building, No. 1 East Third Ring Middle Road, Chaoyang District, Beijing

Legal
Representative (or Person in Charge): Lin Jianxin

 

Borrower:
Xiamen Jingsu Trade Co., Ltd. (hereinafter referred to as “Party B”)

Office
Site: P49, 5F, No. 22 Dongpu Road, Siming District, Xiamen

Legal
Representative (or Person in Charge): Xu Qingcong

 

Whereas
Party B signed a contract (Contract No.: DZJK2Q160318-001) on March 18, 2016 to borrow RMB 20,000,000.00 Yuan (In Words: RMB Twenty
Million Yuan Only) from Party A as required by Party B’s daily operation and market expansion. Party A has actually issued
RMB 18,000,000.00 Yuan (In Words: RMB Eighteen Million Yuan Only) to Party B as of September 17, 2016. The value date (actual
drawing date) is from March 18, 2016 to September 17, 2016. The actual loan term is 184 days and annual interest rate is 14%.
The total amount of interests incurred is RMB 1200111.11 Yuan (In Words: RMB One Million Two Hundred Thousand One Hundred and
Eleven Point One One Yuan Only).

 

On
Sep. 18, 2016, as required by business development, Party B needs to extend the loan term for the principal, RMB 18,000,000.00
Yuan (In Words: RMB Eighteen Million Yuan Only). Thus, both parties hereby sign this agreement to extend the due day of the loan
to March 17, 2017. The extended loan term is 181 days, and annual interest rate is 14%. The total amount of interests incurred
is RMB 1267000 Yuan (In Words: One Million Two Hundred and Eighty Seven Thousand Yuan Only).

 

As
of Sep. 17, 2016, the total amount of principal and interests is 19,200,111.11 Yuan. Party B has paid the interests from March
18, 2016 to June 30, 2016, totally RMB 647,111.11 Yuan, to Party A. In order to better clarify responsibilities of both parties,
Party A and Party B have reached consensus on loan term extension, and hereby sign this contract.

 

Article
1 Loan Amount and Extended Term

 

1.1
The loan amount is till RMB 18,000,000.00 Yuan without any change.

 

1.2
The loan term is extended for another 181 days, from September 18, 2016 to March 17, 2017.

 

    	 		 

     

    

 

Sheng
Yingxin (Beijing) Management Consulting Co., Ltd.

 

 

1.3
The annual interest rate of loan under this agreement is fixed rate of 14%, consistent with that in the original contract (Contract
No.: DZJK20160318-001). The interest of loan is totally RMB 1,267,000.00Yuan.

 

The
calculation method of interests is consistent with the original contract (Contract No.: DZJK20150610). The loan interest is totally
RMB 1,267,000.00Yuan.

 

1.4
Within 20 workdays after the extension agreement is signed, Party B shall pay interests during July 1, 2016 to Sep. 17, 2016,
totally 553000.00 Yuan to Party A.

 

1.5
In the event that Party B repays the loan in advance within the loan term, the interest shall be counted according to monthly
interest on a daily basis. If Party B delays to repay the loan again, Party B is willing to pay 5% of total loan amount as compensation
and 10% of the same as liquidated damages to Party A, and undertake all expenses paid to realize creditor’s rights (including
lawyer fee) as well as relevant legal liabilities.

 

Article
2 Way of Repayment

 

2.1
On the maturity day, Party B shall actively repay principal and interests at lump sum to Party A in accordance with this agreement.
After the repayment is received, Party B shall return the original receipt and original of this agreement to Party A.

 

Article
3 Compulsory Execution Clauses and Time of Repayment

 

3.1
Through deliberation, Party A and Party B mutually confirm to endow compulsory execution effect to this agreement after both parties
agreed with and signed this agreement.

 

3.2
The maturity date of this loan shall be March 17, 2017. Within 15 workdays upon expiration, where Party B fails to repay the loan
as scheduled, Party A has the right to apply for compulsory execution of the unpaid sum to the People’s Court of Chaoyang
District according to this contract. Party B is willing to accept the compulsory execution from the people’s court.

 

Article
4 Dispute Resolution

 

4.1
The disputes incurred during contract performance process shall be solved by both parties through friendly consultation. If consultation
or conciliation fails, either party can file a law suit to the People’s Court of Chaoyang District, Beijing.

 

Article
5 Miscellaneous

 

5.1
After extension, the rights, obligations and relevant matters of both parties still follow the original loan contract (Contract
No.: DZJK20160318-001).

 

5.2
The unaccomplished matters in this agreement shall be implemented in accordance with the Contract Law of the People’s
Republic of China and relevant laws and regulations.

 

5.3
This Contract takes effect from the signing and sealing date of both parties. This contract is made in duplicate, one copy each
for both parties and the guarantor with equal legal validities.

 

    	 		 

     

    

 

Sheng
Yingxin (Beijing) Management Consulting Co., Ltd.

 

 

(This
page is intentionally left blank for signature)

 

Party
A: Sheng Yingxin (Beijing) Management Consulting Co., Ltd. (Official Seal)

 

	Legal
    Representative (Authorized Agent):		(Signature or Seal)

 

Signing
Date: Sep. 17, 2016

 

Party
B: Xiamen Jingsu Trade Co., Ltd. (Official Seal)

 

	Legal
    Representative (Authorized Agent):		(Signature or Seal)

 

Signing
Date: Sep. 17, 2016

 

Signing
Place: Beijing

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