Document:

Exhibit 10.2

 

PSl3C (2018) ZH08002

 

Small Business Working Capital Loan Contract

Contract No.: 44008995100 218101007

 

POSTAL SAVINGS BANK OF CHINA

 

Dear Customer: In order
to safeguard your rights and interests before signing the contract, please read every paragraph of the contract carefully (especially
with bold headline or boldface text terms), pay attention to this contract that involves quantity and quality, price or cost, term
and method of performance, safety precautions and risk warnings, after-sales service, civil liability and other provisions. If
you have any questions or uncertainties, please consult the lending bank, or consult your lawyer and other professional. If you
have any business consultation or complaints, please call Postal Savings Bank of China’s customer service hotline at 95580.

 

According to relevant
national laws and regulations, the parties listed in the special terms of this contract have reached an agreement through negotiation.
This contract is entered by the parties (the information of the contracting party is in Part II Article 1 of this contract) in
accordance with the law on an equal and voluntary basis. All contract terms are the true expression of the intention of the parties.

 

Part I General Terms

 

Article 1 For parties
to the contract, see Part II Article 1 of this contract.

 

Article 2 For the nature
of the contract, see Part II Article 2 of this contract.

 

Article 3 The currency
and amount of the loan is set forth in Part II Article 3 of this contract.

 

Article 4 The purpose
of the loan is set forth in Part II Article 4 of this contract.

 

Article 5 The term of
the loan is set forth in Part II Article 5 of this contract. The specific term of an individual loan shall be subject to the provisions
of the Receipt of Loan of Credit Extension of Postal of Savings Bank of China for Small Business. The term of an individual
loan shall start from the date when the loan funds reach the designated account of the borrower and end on the date when all the
principal and final interest provided in this contract are paid off. If the drawdown is made in multiple times, the maturity date
of each drawdown shall not exceed the last maturity date of the loan.

 

Article 6 Interest rate,
penalty interest rate, calculation of interest and settlement of interest

 

6.1 The interest rate
of the loan is shown in Part II Article 6 of this contract.

 

6.2 Penalty interest rate

 

6.2.1 The lender shall
have the right to calculate and collect the interest at the daily interest penalty rate for the loan principal that the borrower
fails to repay on the date stipulated in the contract (including the announced early maturity). For the interest that cannot be
paid on time, the penalty interest rate shall be calculated and collected at a compound interest rate. Penalty interest rate is
the loan interest rate plus 50%.

 

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6.2.2 For the loan that
the borrower fails to use for the purpose provided in the contract, the lender shall have the right to calculate and collect the
interest at the daily interest penalty rate. For the interest that cannot be paid on time, the penalty interest rate shall be calculated
and collected at the compound interest rate. Penalty interest rate is the loan interest rate plus 100%.

 

For the loan that the
borrower fails to use for the purposed provided in the contract and fails to repay on the date agreed in the contract (including
the announced early maturity), the higher penalty interest rate as agreed above shall apply. If the loan interest rate is adjusted
in accordance with the contract, the penalty interest rate shall also change correspondingly after the adjustment of the interest
rate, and the cycle of change shall be consistent with the cycle of interest rate change.

 

6.3 Interests calculation

 

Interest on the loan shall
be calculated from the date when an individual loan is disbursed to the borrower’s account. The interest calculation method
of the loan under this contract varies according to the repayment method, which is divided into daily interest, monthly interest
and quarterly interest. Interest on a daily basis is the smallest unit of interest. The daily interest rate = monthly interest
rate /30= annual interest rate /360. Monthly interest is the smallest unit of interest calculated on a monthly basis. Monthly interest
= annual rate / 12. Quarterly interest is the smallest unit of interest calculated on a quarterly basis. Quarterly interest = annual
rate / 4.

 

6.4 Interest settlement

 

6.4.1 The loan hereunder
shall pay interest on a monthly (quarterly) basis starting from the disbursement date, and the interest settlement date shall be
the 20th day of each month (quarter). The interest settlement date shall be the repayment date. If the interest settlement date
is not a working day, the repayment shall still be made on the interest settlement date. If the borrower’s repayment account
is insufficient to pay the current loan principal and interest, the repayment can be postponed to the next bank working day. If
the borrower still has not paid the principal and interest of the current loan on the first extended bank working day, it shall
determine the overdue situation according to the original interest settlement date. When the loan is due, the interest should be
settled with the principal.

 

6.4.2 After the interest
settlement date, the lender shall have the right to calculate and collect compound interest on the outstanding interest according
to the interest settlement method and overdue penalty interest rate agreed herein.

 

Article 7 Prerequisites
for loan disbursement

 

Unless waived in whole
or in part by the lender, the lender shall be obliged to disburse the loan only if the following prerequisites are consistently
met:

 

7.1 The borrower has completed
the formalities for approval, registration, delivery, insurance and other procedures related to the loan hereunder;

 

7.2 If the contract is
provided with collateral, the security interest on the collateral as required by the lender has become effective and remains valid;

 

7.3 The borrower does
not have any breach of contract or any events which may endanger the creditor’s rights of the lender as agreed herein;

 

7.4 Laws, regulations
and rules do not prohibit or restrict the lender from disbursing loans hereunder;

 

7.5 There are no events
that the lender believes may affect the borrower’s credit capacity and the safety of the loan, including but not limited
to the overdue debts of the borrower in any financial institution or major litigation cases;

 

7.6 Other requirement
of disbursement stipulated by laws, regulations and the contract have been met.

 

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Article 8 The method of
loan disbursement and payment is provided in Part II Article 7 of this contract.

 

Article 9 When applying
for the use of loan, the borrower shall submit the Letter of Loan Disbursement of Credit Line for Small Business / Application
for Disbursement of Loan for Small Business. After the examination and approval of the lender, the lender shall disburse the loan
accordingly. The amount, term, purpose, interest rate and repayment method of the loan shall be determined in accordance with
the provisions of this contract and the Receipt of Loan of Credit Extension of Postal of Savings Bank of China for Small Business
(the “Receipt” hereafter). The Receipt is an integral part of this contract.

 

Article 10 Method of payment

 

10.1 The payment of the
loan under this contract may be made in the following two ways:

 

10.1.1 Entrusted payment
by the lender. The borrower shall submit relevant transaction materials in a manner and within a time limit as required by the
lender and shall cooperate with the lender to make affirmation records of relevant details as required.

 

10.1.2 Discretionary payment
by the borrower. The borrower shall regularly summarize and report the payment of loan funds, and the lender shall have the right
to verify whether the loan payment conforms to the agreed purpose through account analysis, voucher inspection or on-site investigation.
If the borrower adopts the method of discretionary payment, it shall submit the list of actual payment within 15 days after the
loan is granted. If the borrower fails to submit the “payment list” in accordance with the agreed format and time,
the lender shall have the right to hold the borrower liable for breach of contract in accordance with this contract.

 

10.2 Entrusted payment
shall be made by the lender in the following circumstances:

 

10.2.1 A new credit business
relationship with the borrower is established and the borrower’s credit status is normal;

 

10.2.2 If the identity
of payee is certain and the individual payment is more than RMB 5 million yuan (excluding RMB 5 million yuan), the discretionary
payment method shall be adopted;

 

10.2.3 Other circumstances
determined by the lender.

 

Article 11 The borrower
authorizes the lender to remit the loan to the loan account, the interest of the loan is calculated from actual disbursement date,
and the loan account is shown in Part II Article 8 of this contract. The consent of the lender shall be obtained if the borrower
changes the account, and the new account shall be opened with the lender.

 

Article 12 Repayment

 

12.1 Repayment method
is set forth in Part II Article 9 of this contract. The repayment schedule generated according to this contract in the lender's
computer system is an effective part of this contract and has the same legal effect as this contract.

 

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12.2 Repayment agreement

 

The borrower shall
deposit the current payable amount in full into the designated repayment account before 16:00 on the repayment date agreed herein,
and the lender shall deduct the amount on the interest settlement date. Please refer to Part II Article 10 of this contract
for repayment account information.

 

If the account provided
by the borrower is frozen, deducted, changed or the balance is insufficient, and the lender is unable to deduct the principal and
interest in full amount, the borrower shall promptly provide the lender with a new repayment account or make up the difference
of the account, so that the lender can deduct the principal and interest of the loan in full amount on time. Under the above circumstances,
if the lender fails to collect the principal and interest receivable in full due to the borrower, the borrower is responsible for
breach of contract.

 

12.3 For prepayments,
see Part II Article 11 of this contract. If the borrower applies for prepayments, the borrower shall submit a written application
to the lender 5 working days in advance. After the approval of the lender, the borrower may return part of the principal or settle
the loan in advance. For partial prepayments, the minimum amount of application is 10,000 yuan, and the amount of prepayments must
be multiple of 100 yuan.

 

12.3.1 For the loan with
installment repayment method, if the borrower applies to repay all the loan in advance, the lender shall calculate and collect
the loan interest according to the actual number of days from the last repayment date to the prepayment date of the remaining principal
of the loan. If the borrower applies for prepayment of part of the loan, the lender shall first deduct the principal and interest
of the period in which the borrower applies for from the amount of applied prepayment, and then apply the remaining amount of repayment
application for prepayment of the loan principal.

 

12.3.2 After the partial
prepayment, the borrower shall repay the principal and interest of the loan in accordance with the amount of repayment for each
period determined according to the remaining principal amount of the loan, the remaining term and the current interest rate of
the loan.

 

Article 13 For term adjustment,
see Part II Article 12 of this contract.

 

13.1 In principle, the
borrower’s application of extension for the repayment should be submitted 30 working days before the loan due date. Upon
the approval of the lender, both parties shall go through relevant procedures and the extension period shall not exceed the original
term of the loan. When the original term of the loan plus the extension term reaches the new term level of interest rate, the interest
rate of the loan shall be calculated and collected according to the new term level of interest rate from the date of extension.
The paid interest is no longer adjusted.

 

13.2 If the borrower applies
to accelerate the loan, it shall submit a written claim to the lender to accelerate the loan five (5) working days prior to the
due date of the loan. After the examination and approval of the lender, both parties shall go through relevant procedures. When
the term of contract is accelerated, the repayment plan shall be recomputed according to the original loan interest rate, the loan
term after the acceleration and the remaining loan principal.

 

13.3 If the borrower applies
for an adjustment of the loan term, it shall first repay the principal and interest of the loan in arrears (if any) and the loan
principal and interest for the whole period of the period covered by the adjustment.

 

Article 14 The form of
security under this contract is set forth in Part II Article 13 of this contract.

 

Article 15 In the event
of any change in the security hereunder to the detriment of the creditor’s right of the lender, the borrower shall, upon
notice of the lender, provide another security that meet the requirement of the lender.

 

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Article 16 Rights and
obligations of the lender

 

16.1 The lender shall
disburse the loan in accordance with this contract and the relevant contracts and texts, except for the delay caused by the borrower
or other reasons not attributable to the lender;

 

16.2 The lender shall
have the right to require the borrower to repay the principal and interest of the loan and reimburse various fees associated with
creditor's right, exercise other rights stipulated in this contract and require the borrower to perform other obligations hereunder;

 

16.3 Regarding payables
due under this contract, the related contract and documents, the borrower hereby irrevocable authorize the lender to collect the
principal and interest, insurance premium, liquidated damages and compensation directly from the borrower’s accounts with
the Postal Savings Bank of China and its branches without obtaining further consent from the borrower, and any outstanding balance
in such accounts are all deemed as due immediately. If the currency of the cash in the account is different from the currency of
the loan, the lender shall have the right to convert it into the currency of the loan according to the listed foreign exchange
price of the day for repayment of the loan. If the lender withholds the borrower's fixed deposit before maturity and needs to withdraw
all of it in advance, the interest shall be calculated and paid at the rate of current deposit published on the day of drawdown.
If part of the deposit needs to be withdrawn in advance, the interest will be calculated and paid at the current deposit rate published
on the day of drawdown, and the interest will be calculated and paid at the time of maturity at the rate of fixed deposit on the
date of account opening. The borrower shall be liable for any loss of interest arising from the withholding. In addition, the lender
has the right to inquire into the above-mentioned accounts and to check the use of the borrower's funds at any time;

 

16.4 The lender shall
have the right to impose sanctions against the borrower for evading the supervision of the lender, defaulting on the principal
and interest of the loan or other breach of contract, and shall have the right to notify the relevant authorities, make collection
announcements through the media, and provide relevant information of the borrower to collection agencies for collection purposes;

 

16.5 The lender shall
have the right to understand and inquire about the operation, credit standing, use of the loan and the performance of the loan
contract of the borrower and the guarantor, and shall require the borrower to provide financial statements and other relevant information
periodically.

 

Article 17 Rights and
obligations of the borrower

 

17.1 The borrower has
the right to ask the lender to issue the loan as agreed herein and to use the loan for the purposes agreed herein;

 

17.2 The borrower shall
have the right to require the lender to keep confidential with the relevant financial materials and business secrets provided by
the borrower, except as otherwise provided by laws, regulations and rules, as otherwise required by the competent authority or
as otherwise agreed by both parties;

 

17.3 The borrower shall
repay the principal and interest of the loan under this contract on schedule in accordance with the provisions of this contract,
the Receipt and other relevant contracts and documents;

 

17.4 The borrower promise
to open the account in the Postal Savings Bank of China as the main account of collecting and settlement in accordance with the
Interim Measures for The Management of Working Capital Loans to ensure that the proportion of settlement is not lower than the
proportion of lender’s loans out of all borrower’s loans, the borrower agrees to accept the lender’s supervision
on the inflow and outflow of the borrower’s funds;

 

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17.5 Before the borrower
pays off all principal, interest and expenses hereunder, the borrower shall, as required by the lender, periodically or randomly
submit the authentic financial statements, all bank accounts, deposit and loan balances and cooperate with the lender to carry
out credit asset inspection activities periodically or randomly as required by the lender;

 

17.6 The borrower shall
not, without the consent of the lender in writing, provide guarantee for the debts of others before paying off all principal, interest
and expenses hereunder, shall not lend funds to others, and shall not give priority to the repayment of private lending funds;

 

17.7 The borrower shall
use the loan for the purposes agreed herein and shall not wrongfully occupy, misappropriate or engage in illegal or illegal transactions
with bank loans. It shall cooperate with lender and assist with the lender's inspection and supervision of its operational, financial
activities and loan usage under this contract. It shall not withdraw funds, transfer assets or use affiliated transactions to evade
debts to the lender. It shall not use false contracts with related parties to obtain bank funds or credit extension such as using
notes receivable and accounts receivable as pledge with no real trade background.

 

17.8 In case of any of
the following circumstances, the borrower shall promptly notify the lender in writing:

 

17.8.1 Change of domicile,
communication address, business scope, legal representative and other business registration items;

 

17.8.2 Any event, including
but not limited to major economic disputes, bankruptcy and deterioration of financial status, that threatens its normal operation
or has a material adverse impact on its fulfilment of repayment obligations hereunder;

 

17.8.3 Business suspension,
dissolution, suspension for rectification, revocation of business license or cancellation of business;

 

17.8.4 Other major events
that may affect the borrower's solvency.

 

In case of any of the
circumstances listed in Section 17.8.1, the lender shall be notified in writing within 15 days from the date of the change. In
case of any other circumstances, the lender shall be notified in writing on the date of such circumstances.

 

If the borrower amends
its bylaws, it shall obtain the consent of the lender. If the borrower changes the bylaws without the consent of the lender, the
modified part shall not have legal effect on the lender.

 

17.9 Where the transfer
of the borrower's operational assets involves more than 30% of the borrower's total assets, it shall be reported to the lender
for prior written consent.

 

17.10 The borrower shall
not enter into any contract or document detrimental to the interests of the lender or engage in any activity that prejudice the
interests of the lender;

 

17.11 During the loan
repayment period, the borrower shall not pay dividends to shareholders/investors, etc., and the shareholder shall not misappropriate
or withdraw funds in any way during the business period, which will affect the normal operation of the borrower;

 

17.12 In the event of
or about to occur any event which would materially and adversely affect the financial condition of the guarantor or its ability
to perform its guarantee obligations, the borrower shall promptly provide a new guarantee approved by the lender;

 

17.13 If the value of
the pledge under this contract is reduced and in turn affect the security of the loan, the borrower shall make up the security
within the time limit required by the lender, and the guarantor and the lender shall sign a valid security contract according to
law;

 

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17.14 The borrower will
strengthen environmental and social risk management, continuously improve the internal management system of environmental and social
risks, and ensure its compliance with the requirements of laws and regulations. Where there may be significant environmental and
social risks involved, the borrower will report to the lender in writing in a timely manner and voluntarily accept the supervision
of the lender.

 

Article 18 Default of
lender

 

The occurrence of one
or more of the following events shall constitute an event of default of the lender:

 

18.1 If the lender fails
to provide the loan to the borrower in accordance with the provisions hereof without any valid reason for fulfilling the obligations
hereunder and meeting the loan conditions;

 

18.2 Stop issuing or call
back the loan in advance without any good reason as stipulated in this contract;

 

18.3 Interest is not calculated
and collected in accordance with the relevant provisions of the People's Bank of China on interest rates.

 

The borrower shall have
the right to require the lender to cure the breach of contract within a specified period of time. Where losses have been caused
to the borrower, the borrower shall have the right to demand compensation from the lender for such losses.

 

Article 19 Default of
borrower

 

An event of default of
the borrower is the occurrence of one or more of the following circumstances:

 

19.1 The borrower fails
to pay the outstanding debts related to the lender at maturity, including but not limited to the principal, interest and other
expenses agreed in the contract and related contracts, documents and other expenses;

 

19.2 The borrower fails
to use the loan funds for the purposes specified in this contract or other relevant contracts or documents signed with the lender;

 

19.3 The borrower has
not fully performed its obligations under this contract or other relevant contracts, documents or expenditure items signed with
the lender or has not fully complied with the contractual provisions and has not taken remedial measures satisfactory to the lender
upon receipt of written notice from the lender;

 

19.4 The borrower, as
a party, does not repay or indicates that it will not repay any debt under a loan contract or other contract with the lender or
a third party;

 

19.5 According to the
reasonable judgment of the lender, there are any other events that may endanger or damage the rights and interests of the lender
under this contract, such as obvious deterioration of the capacity of being guarantor under this contract, major changes in the
market conditions or national policies related to the operation of the borrower, adverse effects on the operation of the borrower
and so on;

 

19.6 Failure to comply
with the commitments;

 

19.7 Exceeding the agreed
financial indicators;

 

19.8 Other circumstances
that the lender considers to be sufficient to affect the realization of the creditor's right.

 

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Article 20 Where the
borrower breaches the contract, the lender shall have the right to adjust, reduce, suspend or terminate the loan disbursement hereunder
according to the significance of the events and shall have the right to take some or all of the following measures:

 

20.1 Declare the foreclosure,
in whole or in part, of the outstanding principal and interest of loans/trade finance and other payables under this contract and
other contracts between the borrower and the lender;

 

20.2 Exercise of guarantee
rights;

 

20.3 Stop loan disbursement;

 

20.4 Unilaterally terminate
the contract;

 

20.5 Require the borrower
to correct the default within a time limit;

 

20.6 Require the borrower
to pay 1% of the contract amount as liquidated damages. If the liquidated damages are insufficient to compensate the lender's losses,
the borrower shall continue to bear the liability for compensation;

 

20.7 Require the borrower
to bear all reasonable expenses (including but not limited to legal costs and attorney's fees) incurred by the lender for the realization
of the creditor's right;

 

20.8 The borrower is required
to provide or pursue guarantor in the form of, but not limited to, guarantee, mortgage and pledge;

 

20.9 Take other measures
in accordance with relevant laws and this contract to safeguard its rights and interests hereunder.

 

Article 21 Expenses

 

21.1 The registration
fee of real estate mortgage that may be generated during the execution of this contract shall be borne by the lender, and the appraisal
fee of real estate shall be borne by the borrower as the principal. If there are other mandatory provisions in laws, regulations
and other normative legal documents, such requirements shall apply. Other expenses incurred in the execution and performance of
this contract shall be borne by each party in accordance with the requirements of laws, regulations, administrative rules and other
formal documents.

 

21.2 All expenses actually
incurred by the lender to realize the creditor's right (including but not limited to litigation expenses, lawyers' fees, notarization
fees and execution fees) shall be borne by the borrower. The lender shall have the right to claim repayment from the borrower and
the guarantor at any time for the expenses paid in advance to protect its own interests. Interest on the expenses paid in advance
shall be calculated based on the interests of deposits and collected from the date of advance payment.

 

Article 22 The validity
of the evidence recorded by the lender

 

Unless there is a reliable
and adverse evidence, relevant records, such as the principal, interest, fees, repayment history, other internal accounting records,
documents of borrower’s loan, repayment, interest paid occurred in the process of the business, records of collection, are
all effective evidence of loan relations between the parties. The borrower shall not raise any objection merely because the above-mentioned
records, entries, documents and vouchers are made or retained by the lender unilaterally.

 

Article 23 Rights reserved

 

The rights of the lender
under this contract shall not affect or exclude any rights of the lender under laws, regulations and other contracts. Any delay
or default behavior with allowance, forgiveness, preferential or delay the exercise of any right under this contract does not constitute
a waiver of rights under this contract, or any approval for any violation of this contract, does not limit, restrain and obstruct
the right to continue to exercise of any other right, and does not create to any obligations and responsibilities on the lender.

 

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Article 24 Except for
the debts under this contract, if the borrower has other debts in maturity owed to the lender, the lender shall be entitled to
collect from any account opened by the borrower with any branch of Postal Savings Bank of China in first priority. The borrower
should actively cooperate with, and the lender shall promptly notify the borrower after the collection.

 

Article 25 The borrower
agrees to accept such methods of collection as telephone calls, SMS reminders and collection letters from the lender, and shall
be responsible for the authenticity of the reserved telephone number and mailing address. The recipient of the reserved telephone
number shall be deemed to be the borrower. After the borrower changes its telephone number and mailing address, it shall notify
the lender before the interest settlement date of the current period. Otherwise, the borrower shall bear the adverse consequences
arising therefrom. Other collection methods such as phone calls and short messages have the same legal effect as collection letters.

 

Article 26 Notice

 

26.1 Except as otherwise
agreed in this contract, all notices, requests, requirements under this contract and other information shall be in written form,
and send to address, fax, or E-mail recorded in the special terms of this contract. Both parties shall be responsible for the authenticity
of the address, fax number, E-mail, and confirm its validity.

 

26.2 The parties hereto
agree that any written materials delivered by hand shall be deemed to have been delivered upon signature of the recipient (if the
recipient refuses to accept the materials, it shall be deemed to have been delivered on the date of refusal). If it is sent by
postal or express mail, it shall be deemed to have been delivered within 7 days from the date of record in the original postmark,
no matter if the recipient actually signs for it. If it is sent by fax or E-mail, the date on which the sender successfully sends
it shall be deemed to have been delivered, no matter if the recipient has actually received it. Where a public announcement is
made in the media, the date of the announcement shall be deemed as the date of service. However, all documents sent by the borrower
to the lender shall be signed (including received by hand) by the lender before being deemed to have been delivered.

 

26.3 Either party hereto
shall promptly notify the other party if it intends to change its mailing address, fax number or E-mail address. The original contact
information of the other party shall be deemed to be the effective contact information of the other party until the other party
receives the change of contact information via agreed means under this contract.

 

26.4 The mailing address,
fax number or E-mail number provided herein and the alteration procedure thereof shall apply to all the procedures under this contract,
including the judicial procedure for arbitration or litigation in case of any dispute arising out of this contract. The parties
to this contract (including the people's court accepting the dispute and the arbitration institution) shall have the right to deliver
and serve legal documents according to the mailing address, fax number or E-mail number provided herein.

 

Article 27 Notarization

 

If required by the lender,
the borrower shall cooperate with the lender to perform compulsory notarization of this contract. If the borrower fails to perform
its obligations hereunder after compulsory notarization, the lender may apply to the competent people's court for compulsory execution
according to law.

 

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Article 28 This contract
shall be governed and interpreted by the laws of the People's Republic of China (except Hong Kong, Macao and Taiwan).

 

Article 29 For dispute
resolution, see Part II Article 14 of this contract.

 

Article 30 For special
provisions, see Part II Article 15 of this contract.

 

Article 31 Copies of the
contract are stipulated in Part II Article 16 of this contract.

 

Article 32 Validation,
alteration and termination of a contract

 

32.1 This contract shall
come into force after it is signed by the legal representative (person in charge) or authorized agent of the borrower and the person
in charge or an authorized agent of the lender and affixed with official seal (or special seal for contracts).

 

32.2 After this contract
comes into force, neither party shall arbitrarily modify or terminate this contract. Unless otherwise agreed herein, if the contract
needs to be modified or cancelled, it shall be modified or cancelled in writing upon mutual agreement by both parties. If the borrower
requests to change or terminate the contract in advance, it shall notify the lender in writing one month in advance.

 

Part II Special Terms

 

Lender: Postal Savings
Bank of China Co., Ltd. Shenzhen Luohu District Branch

Address: Floor 2, Postal
Building, No.3040, Shennan East Road, Luohu District, Shenzhen

Telephone: **********______Fax:
**********

Person in charge: Hong
Chen

 

Borrower: Shenzhen
Yangang Mingzhu Freight Industry Co., Ltd.

Address: Floor 6, Building
1, No.1111, Shayan Road, Yantian District, Shenzhen

Telephone: **********
_____Fax: __________

Legal representative/person
in charge: Jinlong Yang

 

Article 2 Section 2.2
should apply to this contract:

 

2.1 Individual contract,
at the time of execution of this contract, shall not be subordinate to any other credit extension contract signed by the borrower
and the lender.

 

2.2 Individual contract
under Small Business Credit Line Contract No. 44008995100118101007 signed by the borrower, Shenzhen Yangang Mingzhu Freight
Industry Co., Ltd., and the lender, Postal Savings Bank of China Co., Ltd. Luohu District Branch.

 

Article 3 The currency
of this loan is RMB, the principal amount of which is (in words) Nine Million Yuan Only, (in figures) ¥9000000.00
(in case of inconsistency of words and figures, the words shall prevail, the same below).

 

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Article 4 The purpose
of the loan under this contract is to pay transportation expenses.

 

Article 5 The term of
the loan under this contract shall be determined with Section 5.1 below:

 

5.l the maximum term of
the individual loan under this contract shall not exceed 24 months.

 

5.2 the term of the loan
is / month, from / year / month / day to / year / month / day.

 

Article 6 Interest rate
of loan

 

6.1 The loan interest
rate of the contract shall be determined in accordance with Section 6.1.1  below:

 

6.1.1 The lender shall
set the rate on a case-by-case basis, and the specific interest rate shall be subject to the provisions of the Receipt.

 

6.1.2 The benchmark interest
rate is the lending rate of the same grade announced by the People's Bank of China for the same period, floating by /  %
/  (up/down).

 

6.1.3 Fixed interest rate,
annual interest rate is /  %, the loan interest rate remains unchanged within the term of the loan.

 

6.2 Before drawdown, if
the benchmark interest rate is adjusted and applied to the loan hereunder, the new benchmark interest rate shall be applied and
the loan interest rate shall be redetermined according to the agreed floating rate ratio. If the benchmark interest rate is adjusted
after the drawdown, the loan interest rate shall be determined in accordance with Section 6.2.1 below:

 

6.2.1 If the period from
the date of drawdown to the date of repayment is less than one year (inclusive), the interest rate of this contract shall be calculated
without subsection; if the term is more than one year, the new interest rate shall be determined and implemented in accordance
with the benchmark interest rate after the adjustment and the agreed floating rate ratio starting from January 1 of the following
year.

 

6.2.2 There shall be no
adjustment within the term of the loan.

 

Article 7 The loan hereunder
may be used by the borrower in accordance with Section 7.1 below:

 

7.1 For recurring use,
the borrower may repeatedly use the loan within the valid period of the credit line, and the total amount of the loan may not exceed
the amount agreed in this contract. The borrower shall withdraw the amount of the loan within 15 days after the approval of the
lender.

 

7.2 For non-recurring
use, the borrower may withdraw the loan in various times within the validity period of the credit line, and the total amount of
the loan shall not exceed the amount agreed in this contract. The borrower shall draw the amount within 15 days after the approval
of the lender.

 

7.3 The borrower shall
withdraw the whole amount of loan in once on / year / month / day.

 

7.4 The borrower shall
make drawdown in various times according to the following time periods:

 

	Withdrawal time	Withdrawal amounts
	/	/
	/	/
	/	/

 

    11

     

    

 

Article 8 The borrower
authorizes the lender to transfer the loan into the following account, and the interest of the loan shall be counted from the actual
disbursement date:

 

Name of lender: Shenzhen
Yangang Mingzhu Freight Industry Co., Ltd.

Account number: **********

Bank: Postal Savings
Bank of China Shenzhen Shayan Branch

If the borrower modifies
the account, it shall be done with the lender, and the modified account shall be opened with the lender.

 

Article 9 Upon consensus
through negotiation, the borrower shall repay the principal and interest of the loan in the way as provided under Section 9.5:

 

9.1 Using / (monthly/quarterly)
equal loan repayments method.

 

9.2 Paying interest /
(monthly/quarterly), lump-sum repayment for principal when due.

 

9.3 Equal loan repayments
by tranches, with a grace period of / month.

 

9.4 Bullet repayment scheme.

 

9.5 Fixed periodic interest
settlement, paying principal according to the repayment plan.

 

9.6 Fixed periodic interest
settlement, paying principal arbitrarily.

 

Article 10 Repayment account

 

Repayment account name:
Shenzhen Yangang Mingzhu Freight Industry Co., Ltd.

Repayment account number:
**********

Bank: Postal Savings
Bank of China Shenzhen Shayan Branch

 

Article 11 In question
of whether the loan under this contract can be prepaid, Section 11.1 below shall be applicable:

 

11.1 The borrower may
apply for prepayment after timely repayment of the principal and interest of / terms of repayments, without paying prepayments
compensation.

 

11.2 Prepayments are not
allowed.

 

Article 12 Term adjustment

 

12.1 The term of loan
under this contract is non-extendable (extendable / non-extendable).

 

12.2 The term of loan
under this contract is not allowed to be shortened (allowed to be shortened / not allowed to be shortened).

 

Article
13 The form of guarantee under this contract includes (optional for reelection according to the actual situation):

 

n
This contract is the main contract of The Maximum
Mortgage Contract of Small Business coded 4408995100418101007 and signed by the mortgagors, Jinlong Yang and Jinhua
Yang, and the lender.

 

☐
This contract is the main contract of the Maximum Pledge Contract of Small Business coded /         and
signed by the pledgor          /           
and the lender

 

n
This contract is the main contract of The Maximum Guarantee Contract of Small Business coded 4408995100618101007 and signed
by the guarantors, Jinlong Yang and Jinhua Yang, and the lender.

 

n
Mortgage is secured by mortgagors, Jinlong Yang and Jinhua Yang.

 

☐ Pledge
is secured by pledgor            /           
.

 

n
Guarantee is secured by guarantors, Jinlong Yang and Jinhua Yang.

 

●
Other security methods: .

 

    12

     

    

 

Article 14 Any dispute
arising from the performance of this contract shall be settled by both parties through negotiation or mediation. If no agreement
can be reached through negotiation or mediation, it shall be settled in way as determined in Section 14.2 below:

 

14.1 Bring a lawsuit to
the People's Court with jurisdiction in the place where the lender domicile.

 

14.2 Apply to Shenzhen
arbitration commission for arbitration in accordance with its arbitration rules in effect. The arbitration award shall be final
and binding upon both parties.

 

During the period of litigation
or arbitration, provisions of this contract that do not involve dispute shall still be performed

 

Article 15 Special provisions.
The borrower and the borrower agree as follows:

 

The repayment plan
is to pay interest on a monthly basis. The principal shall be paid with RMB 300,000 every quarter, and the balance shall be settled
in one time when due.

 

Article 16 Copies of the
contract

 

This contract is made
in triplicate, one for the borrower and two for the lender,       /       ,
each of which has the same legal effect.

 

    13

     

    

 

(The following is the
signature and seal page, no text)

 

Borrower's declaration:
the lender has reminded us with the relevant terms of this contract (especially the terms in boldface) in accordance with the law,
and has explained the concept, content and legal effect of the relevant terms at our request. We have known and understood the
above terms.

 

Lender (signature)

Postal Savings
Bank of China Co., Ltd. Shenzhen Luohu District Branch [Corporate Seal Affixed Here]

 

Responsible person or
authorized agent

/s/ Yudong Jie

 

October 27, 2018

 

Borrower (signature)

Shenzhen Yangang Mingzhu
Freight Industry Co., Ltd. [Corporate Seal Affixed Here]

 

Legal representative/person
in charge or authorized agent

/s/ Jinlong Yang

 

October 24, 2018

 

 

14Exhibit
10.3

 

Comprehensive
Credit Agreement

 

ZHUJIANG
RURAL BANK

 

IMPORTANT
NOTE

 

In
order to safeguard your interests, please read the following notes carefully before signing this contract:

 

I.
You have the necessary legal knowledge related to the loan and guarantee.

 

II.
You have read and understood all the terms of this contract and have given full attention to the contents to your rights and obligations.

 

III.
You have ensured that the relevant certificates and materials submitted are authentic, lawful, and valid.

 

IV.
You have confirmed that you have the right to sign this contract.

 

V.
All terms hereof are true expressions of the will of both parties.

 

VI.
Please use a pen to fill in the information required

 

     

     

    

 

Comprehensive
Credit Agreement

 

No.:
0200001201900252

 

Party
A (Borrower): Shenzhen Yangang Mingzhu Freight Industry Co., Ltd.

 

Address:
Zone A, 27th Floor, Yantian Industry Service Center, No. 3018, Shayan Road, Shajiao Street, Yantian District, Shenzhen

 

Zip
code: 518000

Legal
representative/person in charge: Jinlong Yang

Contacts:

Telephone
no.: Fax No.:

Party
B (Lender): Shenzhen Pingshan Zhujiang Rural Bank Co., Ltd.

 

Address:
32nd Floor, 33rd Floor And 165-166 Shops, Block H, Phase 1, Liuhe Commercial Plaza, Pingshan Street, Pingshan District, Shenzhen.

Zip:
518000

Legal
representative/person in charge: Bin Wu

Contact:
Kaiwen Zhu

Telephone
number: 13824370755

Fax
No.:

 

In
accordance with the contract law of the People's Republic of China and other relevant laws and regulations, and on the basis of
the principles of voluntariness, equality, mutual benefit and good faith, Party A and Party B have reached an agreement to conclude
this contract through negotiation.

 

Article
1 Comprehensive credit line and application scope

 

1.1
Within the validity period agreed herein, Party B shall provide Party A with the maximum comprehensive credit line in the currency
RMB and the amount (in words): Three Million Yuan Only. In the specific business, Party A may use other currencies
than the currency stated above. If other currencies are used, the foreign exchange selling price published by Party B on the date
of specific business occurrence shall be used to convert into currency herein determined.

 

1.2
The comprehensive credit line under this contract may be used for the purpose including but not limited to: loan, bill acceptance,
letter of credit issuance, guarantee for delivery of goods, packing loan, import and export bill of exchange, import agent payment,
letter of guarantee and so on. The specific business mode of credit grant shall be subject to the specific business contract signed
by both parties.

 

1.3
If the comprehensive credit line under this contract is used for bill acceptance, letter of credit issuance and other businesses
and the deposit amount is supplemented by the borrower before the business expires, it shall be regarded as a new issuance of
the same credit line, and the borrower may continue to use the released credit line. In such case, if the total amount of comprehensive
credit line provided by Party B to Party A within the effective period hereof exceeds the maximum amount agreed in paragraph 1.1,
this article shall prevail.

 

    2

     

    

 

Article
2 Comprehensive credit grant period

 

2.1
The effective term of the comprehensive credit line stipulated in Article 1 of this contract is: from May 6, 2019 to May 5,
2020.

 

2.2
Party B shall have the right to review the use of the comprehensive credit line hereunder at any time, and shall have the right
to adjust the above credit period. The starting date and expiration date of each business transaction under the credit grant term
shall be subject to the corresponding documents such as individual contract and receipt of loan.

 

2.3,
Party A shall apply for the use of credit within comprehensive credit period and the date of each specific business contract shall
not exceed the deadline of term of comprehensive credit grant (i.e. the loan disbursement date or the date Party A accepts the
draft/ issue a letter of credit/ issue a letter of guarantee/ issue a guarantee of delivery are not later than the deadline of
this credit grant). If Party B amends the term of comprehensive credit grant, the above-mentioned deadline shall be amended accordingly.
The term of use of each line of funds shall not be restricted by whether the term of comprehensive credit grant expires and shall
be in accordance with the specific business contract.

 

Article
3 Use of comprehensive credit line

 

3.1
Within the credit grant period and comprehensive credit line agreed herein, Party A may use the credit line in one or several
times. Party A shall submit a written application to Party B five (5) working days in advance. After the examination and
approval of Party B, both parties shall sign a separate specific contract or agreement or submit an application, undertaking or
declaration approved by Party B.

 

3.2
The balance of the credit line used by Party A (that is, the total amount of principal not yet paid off at any point of time)
shall not exceed the comprehensive credit line at any time during the period of comprehensive credit grant. Within the period
of comprehensive credit grant, Party A may apply for the use of settled credit line again, and the unused amount within the period
of comprehensive credit grant will be automatically cancelled after the expiration of the period.

 

3.3
Fees payable by Party B for bills, letter of guarantees, international trade financing and other services under this contract;
the interest rate and exchanged that required to be determined under the loan and import and export trade, shall all be specifically
defined in individual business contract.

 

3.4
This contract shall not obligate Party B to issue credit line to Party A, and Party B shall have the right to adjust the amount
of comprehensive credit line hereunder. Party B shall only perform the loan obligation in accordance with the specific business
contract when it is signed by Party A and Party B hereunder. If the specific business contract signed by Party A and Party B under
this contract is inconsistent with this contract, the specific business contract shall prevail.

 

Article
4 Transfer of credit grant

 

4.1
With the written consent of Party B, Party A may transfer the credit line of this contract to a third party, and the specific
object and amount of credit transfer are:

4.1.1
/  (transferee), amount: (equivalent) /  (currency) /  (in words);

4.1.2
/ (transferee), amount: (equivalent) /  (currency) /  (in words);

4.1.3
/ (transferee), amount: (equivalent) /  (currency) /  (in words);

4.1.4.
/ 

4.2
Party A shall be jointly liable for the principal, interest, penalty, compound interest and expense of realizing all debts (including
contingent debts) incurred under the above credit grant, and the guarantee period shall from the effective date of the specific
credit grant contract under the transfer of credit grant to two years after its expiration date.

 

    3

     

    

 

Article
5 Rights and obligations of Party A

 

5.1
Party A has the right to apply to Party B for using the credit line within the term of comprehensive credit grant agreed herein.

 

5.2
Party A warrants that it is a legal entity registered and validly existing in accordance with the law, has the right to dispose
of the property under its management, has the right to operate the business related to the use of loan under this contract and
its specific business contracts, and has the right to sign and perform this contract and its specific business contracts. Party
A ensures that the performance of this contract and its specific business contracts have been approved by the superior competent
department or the board of directors, board of shareholders and other competent institutions, and all necessary authorization
has been obtained.

 

5.3
Party A warrants that the execution and performance of this contract and its specific business contracts will not be in violation
of any provisions or agreements binding on Party A and its assets, including but not limited to the violation of any security
agreement signed by Party A and others or any security commitment issued by Party A to others.

 

5.4
During the performance of this contract and its specific business contract, Party A shall, as required by Party B, cooperate with
the inspection and provide the following information timely including but not limited to:

 

5.4.1
Business license and the proof of annual inspection, certificate of organization code, proof of identification of legal representative
and the necessary personal information, members of the board of directors and major person in charge, financial director, permit
of operation, qualified tax registration certificate after the annual inspection performed by tax department, copies of certificate
of tax payment issued by tax authority as requested by Party B and the loan note;

 

5.4.2
All banks, account number and status of credit grant;

 

5.4.3
The audited balance sheet, income statement, statement changes in equity, sales volume, cash flow statement, foot notes and explanations
as required by Party B;

 

5.4.4
Operation plans, statistic statements, project budgets and final accounts;

 

5.4.5
All external (including any institution of Party B) guarantees;

 

5.4.6
Information of all affiliated enterprises and related relationships, and related transactions that have occurred or will occur,
accounting for more than 10% (including) of Party A's net assets, and mutual guarantee among group;

 

5.4.7
Litigation, arbitration, administrative punishment, debt disputes with others, and cases of senior management personnel being
investigated for criminal prosecution.

 

5.5
Party A shall give a written notice to Party B within 30 days prior to the occurrence of the following events, and shall fulfill
the obligation of paying off the debts hereunder as agreed by Party B in writing, or provide a new guarantee as agreed by Party
B in writing that it will not engage the following activities before paying off all the debts hereunder. These matters including
but not limited to contracting, leasing, trust, asset restructuring, debt restructuring, equity restructuring, joint operation,
merger and acquisition, reducing its registered capital, applying for dissolution (or cancel), applying for reorganization, bankruptcy
application, issuing bonds, borrowing funds from a third party and other financing behavior that substantial increase the debt.

 

5.6
Party A shall notify Party B in writing within three days after its declaration to suspend business for rectification, to wind
up, to dissolve (cancel), reorganization, bankruptcy and other changes in its own structure and legal status or any other circumstances
that may endanger its normal operation or the security of Party B's rights of debts, and take full and effective measures to preserve
Party B's rights of debts.

 

    4

     

    

 

5.7
Party A shall not enter into any contract with any third party that is harmful to Party B's rights and interests under this contract
and specific business contracts.

 

5.8
If Party A changes its legal representative, address, name or other senior management personnel, it shall notify Party B in writing
within seven days after the change.

 

5.9
Party A shall repay the capital principal and interest of the specific business incurred hereunder on time and pay the expenses
payable on time.

 

5.10
If Party A uses the credit line for financing international trade (including packaged loans, financing for import and export trade,
issuance of letter of credit, letter of guarantee, discount of bills, acceptance of bills, etc.), Party A warrants that it shall
conduct business in strict accordance with the Uniform Customs and Practice for Documentary Credits (latest version), the Uniform
Rules for Collection (URC522) and other relevant international practices, and shall not damage the reputation and interests of
Party B due to any commercial disputes.

 

5.11
When Party A is part of group, it shall provide to Party B with the relevant group company related information, including but
not limited to name, legal representative, actual controllers, registered address, registered capital, the main business, equity
structure, senior management, financial condition, material assets condition, guarantee and important lawsuit of other members
of group. And shall timely report to Party B in writing of its net assets of more than ten percent (including) related party transactions,
including but not limited to the relationship, nature of transaction, amount of transaction or relevant proportion and pricing
policy.

 

5.12
Party A warrants that all documents and materials provided to Party B are true, accurate, legal and valid.

 

5.13
Party A warrants that the energy conservation and emission reduction of the project supported by the loan funds hereunder shall
comply with national laws and regulations and regulations of regulatory authorities. If Party A fails to fulfill its commitment
or the risk of energy consumption or pollution, Party B may take the following measures: to terminate the contract; to accelerate
the repayment of loans under this contract; to announce the early maturity of the loan under this contract. When Party B takes
the above-mentioned measures, Party A agrees that Party B shall exercise the relevant guarantee rights in advance.

 

5.14
If Party A uses real property as collateral, it shall promptly inform Party B when it knows the information that the mortgaged
property will be removed. If Party A fails to inform Party B in time and the collateral is lost, Party B shall have the right
to stop making new loans or request for prepayment of existing loans.

 

Article
6 Rights and obligations of Party B

 

6.1
Party B has the right to request Party A to provide documents related to credit grant.

 

6.2
Party B shall have the right to instruct its branches to grant credit to Party A as agreed herein.

 

6.3
If Party A uses the credit line and signs a specific business contract, Party B shall have the right to check the specific business
conditions at any time and urge Party A to use the credit funds according to the purposes provided in the contract.

 

6.4
Party B shall have the right to ask Party A to repay the principal and interest of the credit grant on schedule.

 

6.5
Party B shall promptly accept Party A's application for using the credit line.

 

    5

     

    

 

6.6
Party B shall keep confidential of information and information related to its debts, finance, production and operation provided
by Party A, unless otherwise provided by laws and regulations.

 

6.7
During the validity period of this contract, Party B shall promptly announce the change of address when it changes its domicile.

 

Article
7 Special provisions on credit grant and affiliated transactions of group clients

 

7.1
Group customers refer to enterprises and institutions with the following characteristics:

 

7.1.1
Directly or indirectly controlling or being controlled by other enterprises or institutions in equity or business;

 

7.1.2
Jointly controlled by third party enterprises and institutions;

 

7.1.3
Major investors, key management personnel or close family members (including direct relatives within three generations and collateral
relatives within two generations) jointly controls directly or indirectly;

 

7.1.4
If there is any other relationship that may not transfer assets or profits in accordance with the fair price principle, it shall
be regarded as a group customer for credit grant.

 

7.2
To group clients, Party A should report to Party B of related party transaction with more than 10% of net assets involved within
10 days from the date of transaction. Report shall include the relationship of parties, transaction type and the nature of the
transaction, amount of transaction or relevant proportion and pricing policies (including transaction with no amount or transaction
with only a symbolic amount).

 

Article
8 To recover the loan in advance

 

During
the performance of this contract, if Party A is under any of the following circumstances, Party B shall have the right to stop
issuing the remaining credit line and require Party A to pay off the used credit line in advance:

 

8.1
Party A provides false materials or conceals important business financial facts;

 

8.2
Party A changes the use of financing funds without Party B's consent or engage in illegal or illegal transactions with financing
funds;

 

8.3
Any change of the security hereunder to the detriment of Party B's rights of debts, including but not limited to the damage, loss
or value reduction of the collateral or pledge, or any breach of any obligation by the guarantor in the security contract, and
failures of provision of new security as required by Party B;

 

8.4
During the validity period of this contract, Party A expressly states or indicates by its own conduct that it is unable or fails
to perform its obligations in accordance with the provisions of this contract or specific business contracts;

 

8.5
Party A transfers property, withdraws funds surreptitiously, evades debts or has other behaviors that damage the rights and interests
of Party B;

 

8.6
Party A fails to fulfill its commitment in Article 5 hereof or fails to fulfill its obligations hereunder or in specific business
contracts;

 

8.7
Party A refuses to accept Party B's supervision and inspection of its use of credit funds and related business activities;

 

8.8
Party A uses the false contract with the related parties or uses notes receivable, accounts receivables and other assets with
no real trade background to claim the discounting of bills or pledge or to obtain financing from Party B;

 

    6

     

    

 

8.9
Party A intends to evade or cancel Party B's claims through related party transactions;

 

8.10
There are any changes of operation mode, corporate structure, legal status of Party A, including but not limited to contracting,
leasing, trust, asset restructuring, debt restructuring, shareholding reform, jointly operation, merger and acquisition, split,
transfer of property, joint venture (cooperative), reducing its registered capital or applying for suspending business for rectification,
applying for reorganization, applying dissolution and applying for bankruptcy, or performing the obligation of settling debts
of specific business contract under this contract or providing the new guarantee approved by Party B without Party B's written
consent;

 

8.11
There is a serious crisis in the overall credit, business and financial status of Party A's group customers, which poses a major
threat to the security of Party B's loans;

 

8.12
The deterioration of Party A's business and financial situation, inability to pay off maturing debts, or major economic litigation
or arbitration or other legal disputes, seriously affects and threatens the realization of Party B's claims;

 

8.13
Party A suspends its business, dissolve, wind up, has its business certificate revoked or cancelled;

 

8.14
Party A's breach of any other obligation under this contract, or the guarantor's breach of any obligation under this contract,
which Party B considers to be sufficient to affect the realization of its creditor's right.

 

Article
9 Validity, alteration and termination of the contract

 

9.1
This contract shall come into force upon being signed by both parties. Party B shall not be obliged to allow Party A to use any
credit line until Party A and the guarantor have entered into the security contract and completed the procedures stipulated in
the security contract as required by Party B and have taken effect/the mortgage has been established/the pledge has been established.

 

9.2
Neither party shall amend this contract without authorization after it comes into force. If it is necessary to make any change,
both parties shall reach a written agreement on such change. This contract shall remain valid until the agreement is reached.

 

9.3
Upon the entry into force of this contract, neither party shall terminate this contract in advance unless otherwise agreed herein.
If it is necessary to terminate this contract, both parties shall reach a written agreement.

 

Article
10 Liability for breach of contract

 

After
this contract comes into force, both parties shall perform their obligations under this contract. Any party's failure or incomplete
performance of this contract shall constitute a breach of contract and such party shall be liable for breach of contract in accordance
with the provisions of law and this contract. When Party A breaches the contract, Party B shall have the right to take the following
measures:

 

10.1
Immediately stop Party A from using the credit granted hereunder;

 

10.2
Stop the payment of unused credit line under this contract and specific business contracts, and withdraw some or all of the issued
credit lines before the payment;

 

10.3
Deduct from Party A's account the principal, interest, compound interest, penalty interest and other ancillary expenses payable
by Party A at maturity. If the currency in Party A's account is inconsistent with the currency of its debt, Party B shall have
the right to convert it into the currency of its debt at the exchange rate of the day so as to realize Party B's creditor's rights.

 

    7

     

    

 

10.4
Party A shall indemnify Party B for any other losses caused by Party A’s fault.

 

Article
11 Dispute resolution

 

All
disputes between Party A and Party B arising from this contract or specific business contract shall be settled through negotiation.
If no agreement can be reached through negotiation, either party may settle the disputes in the way as determined in A below:

 

A.
Bring a lawsuit to the competent people's court in the place where Party B is located;

 

B.
Submit / to the arbitration commission for arbitration.

 

Article
12 Supplementary provisions

 

12.1
During the term hereof, if Party A fails to notify Party B in writing of any change in Party A's name, legal representative and
domicile, all documents sent to Party A by Party B according to such information as name, legal representative and domicile before
the change shall be deemed to have been successfully delivered.

 

12.2
Party A shall bear all expenses related to registration, insurance, notarization, appraisal, appraisal, transportation and storage
of pledged property hereunder. If it is paid by Party B, Party B shall have the right to deduct it directly from Party A's account.

 

12.3
Each specific contract and annex signed by Party A and Party B in accordance with this contract including the application of letter
of credit, amendment application of letter of credit, letter of commitment, application of guarantee for export, statements of
declaration are all part of this contract, and overall form into a contract. If the specific loan contract is inconsistent with
the contents of its debt acknowledge, the debt acknowledge shall prevail.

 

12.4
This contract is made in duplicate, with one held by Party A and one held by Party B, share the same legal
effect.

 

Article
13 Other provisions

 

                         /                                    

 

    8

     

    

 

(signature
page, no text)

 

Party
A (seal)

Shenzhen
Yangang Mingzhu Freight Industry Co., Ltd [Corporate Seal Affixed Here]

 

Signature
of Party A's legal representative (or authorized representative):

/s/
Jinlong Yang

 

Date:
April 29, 2019

 

Party
B (seal):

Shenzhen
Pingshan Zhujiang Rural Bank [Corporate Seal Affixed Here]

 

Signature
of Party B’s legal representative (or authorized representative):

/s/
Bin Wu

 

Date:
April 29, 2019

 

Place
of signing: Shenzhen

 

 

9

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