Document:

EX-4.40

 Exhibit 4.40 

Exclusive Technical Service and Business Consulting Agreement 

Zhejiang Mengxiang Consulting Services Co., Ltd. 
 And 

Qingtian Overseas Chinese International School 
 Zhejiang Lishui
Mengxiang Education Development Co., Ltd. 
 April 20, 2022 

  
 1 

 Table of Contents 

 

					
	 ARTICLE I. DEFINITION AND
INTERPRETATION
	  	 	3	 
		
	 ARTICLE II. EXCLUSIVE TECHNICAL
SERVICES
	  	 	4	 
		
	 ARTICLE III. EXCLUSIVE MANAGEMENT
AND CONSULTING SERVICES
	  	 	5	 
		
	 ARTICLE IV. AUTHORIZATION
	  	 	7	 
		
	 ARTICLE V. SERVICE FEES
	  	 	7	 
		
	 ARTICLE VI. INTELLECTUAL PROPERTY
RIGHTS
	  	 	10	 
		
	 ARTICLE VII. REPRESENTATIONS AND
WARRANTIES
	  	 	10	 
		
	 ARTICLE IIX. CONFIDENTIALITY
	  	 	11	 
		
	 ARTICLE IX. LIABILITY FOR BREACH
OF CONTRACT
	  	 	12	 
		
	 ARTICLE X. GOVERNING LAW AND
DISPUTE RESOLUTION
	  	 	13	 
		
	 ARTICLE XI. CHANGE OF
CIRCUMSTANCES
	  	 	14	 
		
	 ARTICLE XII. SEVERABILITY
	  	 	15	 
		
	 ARTICLE XIII. TERM
	  	 	15	 
		
	 ARTICLE XIV. AMENDMENT
	  	 	16	 
		
	 ARTICLE XV. FORCE MAJEURE
	  	 	16	 
		
	 ARTICLE XVI. MISCELLANEOUS
	  	 	17	 

  
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 This Exclusive Technical Service and Business Consulting Agreement (hereinafter referred to “this
Agreement”) was entered into by the following Parties on April 20, 2022: 
 Party
A:Zhejiang Mengxiang Consulting Services Co., Ltd., a wholly foreign-owned enterprise legally incorporated and existing under
the laws of PRC; Unified Social Credit Code: 91331100MA2E0B7832; Address: Room 102, 1F, No.227 Dayang North Road, Baiyun Street, Liandu District, Lishui City, Zhejiang Province, (hereinafter referred to as “Party A”) . 

Party B: Domestic Affiliates, means Zhejiang Lishui Mengxiang Education Development Co., Ltd. and the schools of the restricted education held by Zhejiang
Lishui Mengxiang Education Development Co., Ltd., that is, Qingtian Overseas Chinese International School (aforesaid civil subject referred to herein as “Party B”) . 

Each of the above parties is referred to as a “Party” and all parties are collectively referred to as the “Parties”. 

Whereas: 
 1. Party A is a wholly foreign-owned enterprise
registered and established in accordance with PRC laws. 
 2. Party A agrees to provide Party B with technical services, management support services and
consulting services, which are necessary to conduct the private educational activities, including but not limited to the development, design, maintenance, and update of educational software, educational websites, and web pages; the design of school
curricula and profession, the compilation and selection and/or recommendation of the school textbooks, the recruitment and training support of teachers and other staff, student recruitment support, public relations maintenance, market research and
development, management and marketing consultancy and relevant services, and Party B agrees to accept the services provided by Party A. 
 The Parties have
entered into this Agreement through friendly negotiations in order to clarify the rights and obligations of both Parties and shall be bound hereby. 

  
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 Article I. Definition and Interpretation 

“Listing Company” means Lixiang Education Holding Co., Ltd., a limited liability company incorporated under the laws of the Cayman Islands on
September 6, 2018. 
 “Lishui Mengxiang” means Zhejiang Lishui Mengxiang Education Development Co., Ltd., a limited liability company
incorporated under the laws of PRC on August 17, 2001. 
 “Lishui Mengxiang’s Shareholders” means Ms. Ye Fen, Ms. Ye
Fang and Ms. Ye Hong. 
 “Business” means all services and businesses provided or operated by Party B from time to time in accordance
with the licenses it has obtained, including but not limited to private education activities. 
 “China / PRC” means the People’s
Republic of PRC (for the purposes of this Agreement only, excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan). 

“Effective Date of this Agreement” means, this Agreement shall become effective on August 31, 2021 upon execution by the Parties. 

Article II. Exclusive Technical Services 
 1. During
the term of this Agreement, Party A agrees to provide Party B with technical support and related technical services as the technical service provider of Party B, as permitted by PRC laws and in accordance with the terms and conditions of this
Agreement, which includes but not limited to: 
 a) design, develop, update and maintain educational software to be used on computers and mobile devices for
Party B; 
 b) design, develop, update and maintain the webpages and websites required for its educational activities for Party B; 

c) design, develop, update and maintain the management information system required for its educational activities for Party B; 

d) provide Party B with additional technical support for its educational activities; 

e) provide Party B with regular or irregular technical consulting services (including but not limited to providing feasibility studies, technical forecasts,
special technical surveys, analytical evaluation reports); 

  
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 f) provide technical training for Party B’s personnel; 

g) employ relevant technical personnel to provide Party B with onsite technical guidance depending on Party B’s need. 

h) provide services for Party B in the application of copyrights, trademarks, domain names, patents and other intellectual property rights; 

i) other technical services reasonably requested by Party B. 

2. Party B appoints Party A to exclusively provide technical development, support, and related technical services, and Party B further agrees that Party B
shall not appoint or accept any third party to provide all or part of the technical development, support, and services with respect to the above business during the period of validity of this Agreement without Party A’s prior written consent.

 3. Party B shall promptly provide Party A with the plans and arrangements for the required technical development, support or technical services. 

Article III. Exclusive Management and Consulting Services 

1. During the term of this Agreement, Party A shall have the right to provide exclusive management and consulting services to Party B in accordance with the
terms and conditions of this Agreement, including but not limited to: 
 a) provide Party B with design services of school specialties and courses; 

b) provide Party B with textbook compilation, selection and/or recommendation services; 

c) provide Party B with support and services in terms of teachers, staff recruitment, training; 

d) provide enrollment services and support for Party B, including but not limited to planning enrollment standards, scope and methods, formulating and
designing enrollment brochures and advertisements; 
 e) provide Party B with public relations maintenance services, including but not limited to assisting
Party B in maintaining good relations with government departments and media departments; 

  
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 f) formulate long-term strategic development plans and formulate annual work plans for Party B; 

g) provide Party B with management models, business plans and market development plans; 

h) formulate a financial management system, and recommend and optimize the annual financial budgets for Party B; 

i) provide Party B with advice on school internal institutional setup and internal management system design, etc.; 

j) provide Party B with special management and consulting training for administrative personnel, and improve management level for Party B’s
administrative personnel; 
 k) conduct special market research and investigation entrusted by Party B, and feedback market information and business
development recommendations; 
 l) formulate a regional and national student source market development plan for Party B; 

m) assist Party B to establish a modern online—offline combining marketing network; 

n) assist Party B to establish an education management network and improve the management of business operations; 

o) provide management and consulting services for Party B’s daily operations, finances, investments, assets, liabilities, human resources, and internal
informatization; 
 p) according to Party B’s funding requirements, assist Party B in finding legal and suitable financing channels; 

q) assist Party B in the negotiation of business cooperation, and provide suggestions for signing and fulfilling relevant agreements; and 

r) provide other services reasonably requested by Party B. 
 2.
Party B shall exclusively appoint Party A to provide management and consulting services, and Party B further agrees that Party B shall not accept or appoint any third party to provide the management and consultation services with respect to the
above aspects during the term of this Agreement without Party A’s prior written consent. 

  
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 Article IV. Authorization 

1. In order to enable Party A to provide relevant services more efficiently, Party B irrevocably appoints Party A (and any of its trustees or sub-trustees) as its agent during the term of this Agreement, and Party A may represent Party B and in the name of Party B or otherwise (as determined by the agent): 

a) sign relevant documents with third parties (including but not limited to suppliers and customers); 

b) handle any matters that Party B is obligated to handle but have not handled under this Agreement; and 

c) sign all necessary documents and handle all necessary matters so that Party A can fully exercise all or any of the rights granted by this Agreement. 

2. Depending on the needs of Party A, Party B promises to issue an independent Power of Attorney to Party A with respect to any matter at any time at the
request of Party A. 
 3. Party B agrees to ratify and confirm any matter handled or intended by Party A as its agent in accordance with the terms of
appointment of this Article. 
 Article V. Service Fees 

1. Party A provides exclusive technical services and business and consulting services to Party B. Party A shall calculate the service fees receivable from
Party B based on its own and Party B’s financial status, confirm the consideration for Party A’s provision of technical services and business and consulting services (Collectively referred to as the “Service Fees” ) and
charge from Party B. Party B shall pay the Service Fees to Party A according to the agreement between the two parties. 

  
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 2. For the Service Fees that Qingtian Overseas Chinese International School shall pay to Party A
respectively, the Service Fees shall be calculated and confirmed according to the following floating standards: after deducting the necessary costs and expenses required for the business operation of Schools in accordance with the provisions of the
PRC laws (the primary calculation results related to necessary costs and expenses shall be put forward by Party B and shall be finally confirmed and determined by Party A), and the tax, the make-up for
previous year’s loss (if required by applicable law), allocation of statutory school development fund (if required by applicable law) and other expenses that must be withdrawn according to PRC regulations, the Service Fees shall be withdrawn
from the balance of the School and paid for the services provided hereunder to Party A, but Party A has the right to adjust the amount of Service Fees according to the specific conditions of the service provided to Schools, the operating status of
schools and the development needs of schools which, however, shall not exceed the previously agreed limits and shall abide by other regulations of the applicable school. 

3. For the Service Fees that Lishui Mengxiang shall pay to Party A, the Service Fees shall be calculated and confirmed according to the following floating
standards: after deducting the necessary costs and expenses required for the business operation of the company in accordance with the provisions of the PRC laws (the primary calculation results related to necessary costs and expenses shall be put
forward by Party B and shall be finally confirmed and determined by Party A), and the tax, the make-up for previous year’s loss (if required by applicable law), the statutory reserve fund (if required by
applicable law),etc., the Service Fees shall be withdrawn from the profits of the company and paid for the services provided hereunder to Party A, but Party A has the right to adjust the amount of Service Fees according to the specific conditions of
the service provided to the company, the operating status of the company, and the development needs of the company, which, however, shall not exceed the previously agreed limits. 

4. The Service Fees can be paid before or after that Party A provides the required technical services and management and consulting services. In order to
meet Party B’s operating debt payment requirements, Party A agrees that Party B will use the funds after paying the operating debts to pay the service fees, and the shortfall part may be suspended. Such suspension of payments shall not be
deemed as Party B’s default and shall not be subject to overdue interest. At the same time, in order to meet the normal development of Party B’s daily business activities, Party B may, with the consent of Party A, pay the Service Fees
only by cash exceeding the basic cash demand, and the shortfall part may be suspended within the limit agreed by Party A. Such suspension of payments shall not be deemed as Party B’s default and shall not be subject to overdue interest. 

  
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 5. Party A may provide Party B with a written statement of the corresponding service fees based on the
service provision under this Agreement. Party B shall pay such service fees to Party A’s designated account within ten (10) days after receiving the written statement. Party B shall record the confirmation of the service fees through the
resolution of the board of directors/council. 
 6. Although the total amount of Service Fees is calculated, confirmed and paid in the above-mentioned
method, Party B shall, upon written notice of Party A, prepay the Service Fees to Party A within ten (10) business days after Party A’s notice. The amount of prepaid Service Fees shall be considered and deducted accordingly when both Party
A and Party B calculate, confirm and make payment. 
 7. In addition to the Service Fees, Party B shall bear and compensate Party A for all reasonable
expenses, advance payments and out-of-pocket expenses (hereinafter referred to as the “Expenses”) of any form paid or incurred by Party A in the performing or
providing services. 
 8. Party B shall pay Service Fees and reimbursable expenses to Party A in accordance with this Agreement and supplementary documents
executed from time to time. Party A shall issue the invoice of relevant Service Fees and all expenses incurred in relevant period to Party B on time. Party B shall pay the amount indicated on the invoice within 7 days after the receipt of the
invoice. All bank charges incurred in connection with the payment shall be borne by Party B. All payments shall be made by remittance or otherwise recognized by the Parties into the bank account designated by Party A. The Parties agree that Party A
may change such payment instructions from time to time by notifying to Party B. 
 9. Party B shall pay interest on any overdue payments for the Service
Fees and Expenses specified in this Agreement. The interest rate shall be the RMB short-term loan interest rate announced by the People’s Bank of China on the date of actual payment. 

10. Each Party shall bear the taxes and fees that legally shall be paid for the signing and performance of this Agreement. If requested by Party A, Party
B shall endeavor to assist Party A in obtaining the treatment of income tax exemption for all or part of the Service Fees under this Agreement. 

  
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 Article VI. Intellectual Property Rights 

1. Except as otherwise provided by PRC laws and regulations, Party A provides to Party B: the technology, compiled materials, and intellectual property rights
developed during the process of providing research and development services, technical support and technical services, and the intellectual property rights of all research and development results and any rights derived therefrom obtained by Party A
related to the performance of this Agreement and/or other contracts entered into with other parties shall be exclusively owned by Party A. Such rights include, but are not limited to, patent application rights, proprietary technology ownership,
copyrights or other intellectual property rights of software, technical documentation and technical materials, works of art or other works, the right to license others to use such intellectual property rights or the right to transfer such
intellectual property, etc. 
 Article VII. Representations and Warranties 

1. Party A represents and warrants to Party B as follows: 
 a)
Party A is a legally established and validly existing company that has the ability to bear civil liability externally; 
 b) Party A has the right to sign
and perform this Agreement. It has obtained all necessary and appropriate approvals and authorizations for the signing and performance of this Agreement, and has obtained all government approvals, qualifications, licenses, etc. required to
engage in relevant business in accordance with applicable laws; 
 c) This Agreement shall be legally valid and binding on Party A at the effective date of
this Agreement and may be enforced in accordance with the terms of this Agreement in accordance with the laws; 
 d) Party A’s signing and performance
of this Agreement does not violate any PRC laws and regulations, court decisions or arbitral awards, any administrative decision, approval, permission, or any other agreement under which it is a party or that is binding on it, and will not
result in the suspension, revocation, confiscation or no renewal upon expiration of any approval, license of the government department applicable to it; 

e) There is no litigation, arbitration or other judicial or administrative procedures that will affect Party A’s performance of its obligations under
this Agreement, and which have occurred and not yet been settled, and which, to the best of its knowledge, are threatened to be commenced by any person. 

  
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 2. Party B represents and warrants to Party A as follows: 

a) Party B is a legally established and validly existing limited liability company and / or non-state public
institution legal person with the ability to bear civil liability externally; 
 b) Party B has the right to sign and perform this Agreement. It has
obtained all necessary and appropriate approvals and authorizations for the signing and performance of this Agreement, and has obtained all government approvals, qualifications, permits, etc. required to engage in relevant business in accordance
with applicable laws; 
 c) This Agreement shall be legally valid and binding on Party B as of the effective date of this Agreement, and may be enforced in
accordance with the provisions of this Agreement in accordance with the laws; 
 d) Party B’s signing and performance of this Agreement does not
violate any PRC laws and regulations, court decisions or arbitral awards, any administrative decision, approval, permission or any other agreement under which it is a party or that is binding on it, and will not result in the suspension, revocation,
confiscation or no renewal upon expiration of any approval, license of the government department applicable to it; 
 e) There is no litigation, arbitration
or other judicial or administrative procedures that will affect Party B’s performance of its obligations under this Agreement, and which have occurred and not yet been settled, and which, to the best of its knowledge, are threatened to be
commenced by any person; 
 f) Party B has disclosed to Party A all contracts, government approvals, licenses or other documents to which it is a party or
that is binding on it or its assets or business that may have a material adverse effect on its ability to fully perform its obligations under this Agreement, and there is no misrepresentation or omission of any material facts in any documents
previously provided by Party B to the other Party; 
 g) Party B shall pay the Service Fees to Party A in full and on time in accordance with the provisions
of this Agreement; 
 h) Party B shall maintain the continued validity of the licenses and qualifications related to Party B’s business during the
service period; and actively cooperate with Party A to provide services and accept Party A’s reasonable opinions and suggestions on Party B’s business. 

  
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 Article IIX. Confidentiality 

1. Party B agrees to use all reasonable confidentiality measures to keep the confidential materials and information of Party A confidential (hereinafter
referred to as “Confidential Information”) that Party B knows about or has access to, due to the providing of the exclusive technical support and technical services by Party A. Without the prior written consent of Party A, Party B
shall not disclose, give or transfer such Confidential Information to any third party. Upon termination of this Agreement, Party B shall return any documents, materials or software containing Confidential Information to Party A in accordance
with Party A’s request, or destroy them, and remove any Confidential Information from all relevant memory devices, and shall not continue to use such Confidential Information. 

2. The Parties hereby acknowledge and determine that any oral or written information exchanged between them in relation to this Agreement is
confidential. Both Parties shall keep all such information confidential and shall not disclose any relevant information to any third party without the prior written consent of the other Party, except in the following cases: 

a) The public is aware of or will be aware of such information (not due to the disclosure to the public by one of the recipients without permission); 

b) Information required to be disclosed pursuant to applicable laws or rules or regulations of Stock Exchange; or 

c) Information required to be disclosed by any Party to its legal or financial advisor for the transactions described in this Agreement, and such legal or
financial advisor shall comply with the confidentiality obligations similar to this Article. 
 3. The leak of confidential information by the staff or
agencies hired by any Party shall be deemed the leak by such Party, which Party shall be liable for breach of contract in accordance with this Agreement. 

4. The Parties agree that Article IIX of this Agreement will continue to be effective irrespective of whether this Agreement is invalid, altered,
terminated, discharged or not operational. 

  
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 Article IX. Liability for Breach of Contract 

1. Any Party who violates the provisions of this Agreement and makes all or part of this Agreement unenforceable, shall be liable for breach of contract and
shall compensate the other Party for the losses caused thereby (including the arbitration fees and attorney fees caused thereby). If both Parties breach this Agreement, each shall bear the corresponding responsibility according to the actual
situations. 
 Article X. Governing Law and Dispute Resolution 

1. Change of Law 
 At any time after the effective date of this
Agreement, with respect to the enactment or revision of any PRC laws, regulations or rules, or due to changes in the interpretation or application of such laws, regulations or rules, the following provisions shall apply: 

a) If the above changes or new rules are more favorable to any Party than the relevant laws, regulations, decrees or regulations in effect on the
effective date of this Agreement (and the other Party is not seriously adversely affected), the Parties shall timely modify the Agreements to obtain the benefits arising from such changes or new regulations; or the Parties shall apply in time for
the benefits of such changes or new regulations, and the Parties shall use their best efforts to obtain the approval of the application; and 
 b) If, due
to the above changes or new regulations, the economic interests of either Party under this Agreement are directly or indirectly adversely affected, this Agreement shall continue to be executed in accordance with the original terms. Each Party
shall use all legal means to obtain an exemption from compliance with the change or regulations. If the adverse effects on the economic interests of any Party cannot be resolved in accordance with the provisions of this Agreement, after the
affected Party notifies the other Party, the Parties shall promptly negotiate and make all necessary modifications to this Agreements to maintain the economic interests of the affected Party under this Agreement. 

2. The PRC laws shall apply to the conclusion, validity, interpretation, performance, modification and termination of this Agreement and the resolution of
disputes. 
 3. Any conflict, dispute or claim arising out of or in connection with the performance, interpretation, breach of contract, termination or
validity of this Agreement or this Agreement shall be settled through friendly negotiation. The negotiation shall begin immediately after a written request for negotiation with specific statement of the dispute or claim has been sent to the
other Party. 

  
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 4. If the dispute cannot be resolved within thirty (30) days after the delivery of the above notice,
either Party has the right to submit the dispute to arbitration for settlement. The Parties agree to submit the dispute to China International Economic and Trade Arbitration Commission in Beijing for arbitration in accordance with the
arbitration rules in force at that time. The arbitral award is final and binding on both parties. The arbitration committee shall have the right to rule that Party A shall be compensated or indemnified for the loss caused to Party A by Party
B’s breach of contract by Party B’s equity interest, property interest or other assets or issue an injunction against such breach (if required for business operation or compulsory transfer of assets), or that Party B be dissolved or
liquidated. After the effectiveness of the arbitration award, any Party shall have the right to apply to a court with competent jurisdiction for enforcement of such award. 

5. Upon the request of a party to the dispute, a court of competent jurisdiction shall have the power to grant interim relief to support the conduct of the
arbitration before the lawful constitution of the arbitral tribunal or in appropriate circumstances, such as through the detention or freezing of judgments or rulings on the equity interests, property interests or other assets held by the breaching
party. In addition to the courts of China, the courts of Cayman Islands, the court where the main assets of the Listing Company are located, and the court where the main assets of Party B are located shall also be deemed to have jurisdiction for the
above purposes. 
 6. During the arbitration period, other than obligations related to the disputes submitted to the arbitration, both Parties to this
Agreement shall continue to perform their other obligations under this Agreement. 
 Article XI. Change of Circumstances 

1. If at any time, due to the enactment or revision of any PRC laws, regulations or rules, or due to changes in the interpretation or application of such laws,
regulations or rules, or due to changes in the registration procedures, which makes Party A believe that the validity and performance of this Agreement becomes illegal or contrary to such laws, regulations or rules, Party B shall immediately,
following the written instructions of Party A, take any action and/or sign any agreement or other documents in accordance with the requirements of Party A, to: 

  
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 (a) keep this Agreement valid; and/or 

(b) fulfill the intent and purpose of this Agreement by ways prescribed under this Agreement or by other means. 

Article XII. Severability 
 1. If any one or more of the
provisions of this Agreement are held to be invalid, illegal or unenforceable in any way under any law or regulation, the validity, legality or enforceability of the other provisions of this Agreement shall not be thereby subject to any influence or
damage. All Parties shall, through good faith consultations, seek to replace those invalid, illegal or unenforceable provisions with valid provisions to the greatest extent expected by the Parties and within the permission of the law, and the
economic effects such effective provisions produce shall be similar to those invalid, illegal or unenforceable regulations. 
 Article XIII. Term

 1. This Agreement shall become effective on August 31, 2021 upon execution by the Parties. 

2. This Agreement shall automatically terminate when Party A and/or other entities designated by the Listing Company have fully exercised their options to
purchase all the (direct and indirect) equities held by Lishui Mengxiang’s Shareholders in Party B in accordance with the Exclusive Call Option Agreement entered into on the date of this Agreement with Party B and Lishui Mengxiang’s
Shareholders. Party A may terminate this Agreement unilaterally after notice in thirty (30) days advance. Unless otherwise required by laws, in any case, Party B has no right to terminate or discharge this Agreement unilaterally. 

2. In order to maintain the validity of this Agreement, the Parties shall complete procedures for examination, approval and registration of extension of the
term of operation within three (3) months prior to the expiration of their respective term of operation. 

  
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 3. For the avoidance of doubt, according to the Exclusive Call Option Agreement, if the PRC laws and
regulations permit Party A and/or other foreign or overseas entities designated by the Listing Company to directly hold part or all of the equity and/or the sponsor’s equity interest of Party B, and conduct restricted/prohibited business such
as private education business through Party B, Party A shall issue a notice of equity purchase within the fastest possible time, and the equity purchasers shall purchase the amount of (direct and indirect) equities from Lishui Mengxiang’s
Shareholders not lower than the maximum amount of equity permitted to be held by Party A and/or other foreign or overseas entities designated by the Listing Company in the Party B under the laws of PRC at that time. This Agreement shall
automatically terminate when the equity purchasers have fully exercised their options to purchase all the (direct and indirect) equities held by Lishui Mengxiang’s Shareholders in Party B in accordance with the Exclusive Call Option Agreement.

 Article XIV. Amendment 
 1. Upon mutual agreement
between the Parties and approval by Party A’ s shareholders (or shareholders’ meeting), the Parties may modify or supplement this Agreement and take all necessary steps and actions, and bear the corresponding expenses, so that any
modification or supplement can be legal and effective. 
 2. If National Association of Securities Dealers Automated Quotation (hereinafter referred to as
“NASDAQ”), American Stock Exchange or other regulatory authorities make any amendments to this Agreement, or listing rules or related requirements of NASDAQ produce any changes related to this Agreement, the Parties shall revise
this Agreement accordingly. 

  
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 Article XV. Force Majeure 

1. If the responsibilities of both parties under this Agreement are not fulfilled due to the event of force majeure, the liability under this Agreement will be
waived within the scope of force majeure. For the purposes of this Agreement, force majeure events include only natural disasters, storms, tornadoes and other weather conditions, strikes, closures/shutdowns or other industry issues, wars,
riots, conspiracy, enemy acts, terrorist acts or criminal organizations acts, blockades, serious illnesses or plagues, earthquakes or other crustal movements, floods and other natural disasters, bomb explosions or other explosions, fires, accidents,
or government actions that result in failure to comply with this Agreement. 
 2. In the event of a force majeure event, the Party affected by the force
majeure event shall endeavor to reduce and remove the effects of the force majeure event and assume the responsibility of performing the delayed and blocked obligations under the Agreement. If the force majeure event is resolved, the Parties agree
to continue to perform as much as possible. 
 3. In the event of a force majeure event that may result in delays, prevention or threats to delay or prevent
the performance of this Agreement, the relevant Parties concerned shall promptly notify the other Party in writing and provide all relevant information. 

Article XVI. Miscellaneous 
 1. To the extent permitted by
the PRC Laws, Party A is entitled to designate another Person (such as the foreign-invested enterprise established by the Listing Company in the PRC) acknowledged by the Listing Company to execute and perform an agreement with the other Parties
hereto whose terms and conditions shall be the same as or similar to the terms and conditions of the Contractual Agreements, and the other Parties hereto shall provide unconditional cooperation and support. This Agreement shall automatically
terminate from the effective date of such agreement. 
 2. Party B shall not transfer its rights and obligations under this Agreement to any third party
without Party A’s prior written consent. Party B hereby agrees that Party A may, to the extent permitted by PRC laws, transfer its rights and obligations under this Agreement to other third parties as it may require. Party A is only
required to give written notice to Party B at the time of the transfer and no further consent from Party B shall be obtained for such transfer. 

  
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 3. After effectiveness of this Agreement, this Agreement shall supersede the Exclusive Technical Service and
Business Consulting Agreement entered into by the Parties on October 13, 2018, the Supplemental Agreement of the Exclusive Technical Service and Business Consulting Agreement entered into by the Parties on November 29, 2018 and the
Supplemental Agreement of the Exclusive Technical Service and Business Consulting Agreement II entered into by the Parties on March 29, 2019. 
 4.
This Agreement is drafted in Chinese and in three counterparts, each of which shall be held by each Party to this agreement and has the same legal effect. If there is any inconsistency or conflict between the English translated version and the
Chinese version, the Chinese version shall prevail. 
 (Signature Pages Follow) 

  
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 (This page is the signature page of the Exclusive Technical Service and Business Consulting Agreement, and
is left blank intentionally.) 
  

	
	Qingtian Overseas Chinese International School (seal)
	
	Signature of legal representative/authorized representative:
	
	/s/
	  

	
	Zhejiang Lishui Mengxiang Education Development Co., Ltd. (seal)
	
	Signature of legal representative/authorized representative:
	
	/s/
	  

	
	Zhejiang Mengxiang Consulting Service Co., Ltd. (seal)
	
	Signature of legal representative/authorized representative:
	
	/s/
	  

  
 19EX-4.41

 Exhibit 4.41 

Exclusive Call Option Agreement 
 Zhejiang
Mengxiang Consulting Services Co., Ltd. 
 And 
 Ye Fen 

Ye Fang 
 Ye Hong 

And 
 Qingtian Overseas Chinese International School 

Zhejiang Lishui Mengxiang Education Development Co., Ltd. 

April 20, 2022 

  
 1 

 Table of Contents 

 

					
	 Article I. Definition and Interpretation
	  	 	4	 
		
	 Article II. Equity Transfer of Domestic Affiliates
	  	 	5	 
		
	 Article III. Covenants
	  	 	8	 
		
	 Article IV. Representations and Warranties of Lishui Mengxiang’s Shareholders
	  	 	11	 
		
	 Article V. Representations and Warranties of Domestic Affiliates
	  	 	13	 
		
	 Article VI. Representations and Warrants of WFOE
	  	 	14	 
		
	 Article VII. Damage Liability and Remedy Measures
	  	 	15	 
		
	 Article IIX. Term
	  	 	15	 
		
	 Article IX. Confidentiality
	  	 	16	 
		
	 Article X. Force Majeure
	  	 	17	 
		
	 Article XI. Changed Circumstances
	  	 	17	 
		
	 Article XII. Miscellaneous
	  	 	18	 

  
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 This Exclusive Call Option Agreement (hereinafter referred to as “this Agreement”) was
entered into by the following parties on April 20, 2022: 
 Party A: Zhejiang Mengxiang Consulting Services Co., Ltd., a wholly foreign-owned
enterprise legally incorporated and existing under the laws of PRC; Unified Social Credit Code: 91331100MA2E0B7832; Address: Room 102, 1F, No.227 Dayang North Road, Baiyun Street, Liandu District, Lishui City, Zhejiang Province (hereinafter referred
to as the “WFOE”). 
 Party B: Ye Fen, a Chinese natural person; ID card number: ********************; Address: ******************** 

Party C: Ye Fang, a Chinese natural person; ID card number: ********************;
Address:********************. 

Party D: Ye Hong, a Chinese natural person; ID card number:********************; Address: ********************. 

(The above Party B to D are collectively referred to as “Lishui Mengxiang’s Shareholders”.) 

Party E: “Domestic Affiliates” means Zhejiang Lishui Mengxiang Education Development Co., Ltd. and the schools of the restricted education
held by Zhejiang Lishui Mengxiang Education Development Co., Ltd., that is, Qingtian Overseas Chinese International School (one or all of the aforementioned civil entities are referred to as “Domestic Affiliates”). 

(WFOE, Lishui Mengxiang’s Shareholders and Domestic Affiliates, are collectively referred to as the “Parties”, or individually referred
to as a “Party”. 
 WHEREAS: 

1. Lishui Mengxiang’s Shareholders directly and/or indirectly hold the relevant equity of Domestic Affiliates, including (a) Lishui
Mengxiang’s Shareholders hold 100% equity of Lishui Mengxiang; (b) Lishui Mengxiang holds 100% sponsor’s equity interest of Qingtian Overseas Chinese International School. 

2. Lishui Mengxiang’s Shareholders intend to grant WFOE or its designated purchaser an irrevocable exclusive call option right to purchase all or
part of the equity directly or indirectly held by Lishui Mengxiang’s Shareholders from time to time in Domestic Affiliates (hereinafter the “Equity Purchase Rights”), and WFOE intends to accept such Equity Purchase Right
granted by Lishui Mengxiang’s Shareholders. 

  
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 Therefore, after friendly negotiation, the Parties agree on the exclusive call option as follows: 

Article I. Definition and Interpretation 
 Unless
otherwise stated or required, the following terms shall have the following meanings when used in this Agreement: 
 “Listing Company” means
Lixiang Education Holding Co., Ltd., a limited liability company incorporated under the laws of the Cayman Islands on September 6, 2018. 

“Lishui Mengxiang” means Zhejiang Lishui Mengxiang Education Development Co., Ltd, a limited liability company incorporated under the laws of
PRC on August 17, 2001. 
 “Equity Pledge Agreement” means the Equity Pledge Agreement executed simultaneously with this Agreement
among Lishui Mengxiang’s Shareholders, WFOE and Lishui Mengxiang, to guarantee the contractual obligations of Domestic Affiliates and Lishui Mengxiang’s Shareholders under the Contractual Agreements. 

“Proxy Agreement for School’s Sponsor and Council Members” means the Proxy Agreement for School’s Sponsor and Council members
entered into among School’s Sponsor and the Council Members appointed by the School’s Sponsor when signing this Agreement. 
 “Contractual
Agreements” means the following agreements signed by two or all parties among Lishui Mengxiang’s shareholders, Domestic Affiliates, and WFOE, including: the Business Cooperation Agreement, the Exclusive Technical Service and Business
Consulting Agreement, the Exclusive Call Option Agreement, the Proxy Agreement for Shareholders, the Power of Attorney for Shareholders, the Proxy Agreement for School’s Sponsor and Council Members, the Powers of Attorney for School’s
Sponsor, the Power of Attorney for School Council Members, the Equity Pledge Agreement, the Loan Agreement, including the amendments to the above agreements, and other agreements, contracts or legal documents signed or issued from time to time by
one or more Parties to ensure the fulfillment of the above agreements and signed or recognized by WFOE in writing.
 “China / PRC” means
the People’s Republic of China (for the purposes of this Agreement, excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan). 

  
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 “Assets” means all tangible and intangible assets directly or indirectly owned by Domestic
Affiliates, including but not limited to all fixed assets, current assets, capital interests of foreign investment, intellectual property, and all available benefits under all contracts and other benefits that should be obtained by Domestic
Affiliates. 
 “Effective Date of this Agreement” means this Agreement shall become effective on August 31, 2021 upon execution by the
Parties. 
 Article II. Equity Transfer of Domestic Affiliates 

1. Grant rights 
 Pursuant to the terms and conditions
stipulated in this Agreement, Lishui Mengxiang’s Shareholders irrevocably grant WFOE or its designated purchaser the exclusive call option right in relation to the equity of Domestic Affiliates. WFOE or its designated purchaser
(hereinafter the “Domestic Affiliates Equity Purchaser”, such Domestic Affiliates Equity Purchaser may be one or more parties) has the right to decide in its sole discretion, in accordance with the terms and conditions of this
Agreement, to purchases all or part of the equities directly and/or indirectly held by Lishui Mengxiang’s Shareholders, from time to time, in Domestic Affiliates by one or multiple times, and pays the minimum price permitted by PRC laws and
regulations (the “Domestic Affiliates Equity Purchase Price”) to Lishui Mengxiang’s Shareholders and/or their designated entities. The shareholders and / or the school’s sponsor recorded in the articles of association
of Domestic Affiliates and Schools through the conformation letter to confirm the waiver of their respective pre-emptive rights to the above-mentioned Domestic Affiliates equity transfer in accordance with the
provisions of the PRC laws and regulations and the articles of association of the company and schools, and irrevocably agree that Lishui Mengxiang’s Shareholders transfer the equity of Domestic Affiliates directly and/or indirectly held by them
to Domestic Affiliates Equity Purchaser. 

  
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 2. Exercise procedure 

In the case that the PRC laws and regulations allow Domestic Affiliates Equity Purchaser to hold all or part of the equity held by Lishui Mengxiang’s
Shareholders in Domestic Affiliates, WFOE may, at any time during the term of this Agreement, issue a notice to Lishui Mengxiang’s Shareholders or Domestic Affiliates (the “Domestic Affiliates Equity Transfer Notice”), which
states that the equity shares of Domestic Affiliates purchased from Lishui Mengxiang’s Shareholders (the “Purchased Domestic Affiliates Equities”) and the identities of Domestic Affiliates Equity Purchaser, to exercise the
right to purchase the equities of Domestic Affiliates. 
 Each time exercising the right to purchase the equities of Domestic Affiliates, Domestic
Affiliates Equity Purchaser may, at its discretion, determine the proportion of the purchased equities of Domestic Affiliates purchased from Lishui Mengxiang’s Shareholders, but in the case that PRC laws and regulations permit other foreign or
overseas entities designated by WFOE and/or the Listing Company to directly hold part or all of the equity and/or sponsor’s equity of Domestic Affiliates, and to engage in restricted/prohibited business such as private education through
Domestic Affiliates, WFOE shall issue Domestic Affiliates Equity Transfer Notice as soon as practical, and the amount of equities of Domestic Affiliates purchased by Domestic Affiliates Equity Purchaser from Lishui Mengxiang’s Shareholders
shall not be lower than the maximum limit permitted by PRC laws in relation to the equity of Domestic Affiliates held by other foreign or overseas entities designated by WFOE and/or the Listing Company. 

3. Equity transfer of Domestic Affiliates 
 Each time
the right to purchase the equity of Domestic Affiliates is exercised: 
 a) Lishui Mengxiang’s Shareholders and the direct equity holders of
Domestic Affiliates shall sign an equity transfer agreement and other necessary legal documents for the equity transfer of Domestic Affiliates with Domestic Affiliates Equity Purchaser in accordance with the provisions of this Agreement and Domestic
Affiliates Equity Transfer Notice; 
 b) Lishui Mengxiang’s Shareholders and the direct equity holders of Domestic Affiliates shall prompt
Domestic Affiliates to conduct financial liquidation in a timely manner in order to handle the legal procedures for the equity transfer of Domestic Affiliates (if applicable); 

c) Lishui Mengxiang’s Shareholders and the direct equity holders of Domestic Affiliates shall prompt Domestic Affiliates to convene the
shareholders’ meeting/school council meeting, and approve the resolutions on the equity transfer of Domestic Affiliates and the revision of the articles of association of Domestic Affiliates; 

  
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 d) Lishui Mengxiang’s Shareholders and the direct equity holders of Domestic Affiliates shall
prompt Domestic Affiliates to promptly amend the articles of association of the schools and companies to reflect the equity transfer of Domestic Affiliates; 

e) Lishui Mengxiang’s Shareholders and the direct equity holders of Domestic Affiliates shall prompt Domestic Affiliates to apply to the competent
authorities of industry and commerce, education, civil affairs departments and other government authorities for legal procedures of the approvals, registrations related to the equity transfer of Domestic Affiliates; 

f) Lishui Mengxiang’s Shareholders and the direct equity holders of Domestic Affiliates shall sign all further documents reasonably required by
Domestic Affiliates Equity Purchaser at any time and take all further actions to make Domestic Affiliates Equity Purchaser become the legal owner of the equity of Domestic Affiliates without any encumbrances and other unfavorable claims and
interests. 
 g) Domestic Affiliates shall sign all further documents reasonably required by Domestic Affiliates Equity Purchaser at any time and take
all further actions to make Domestic Affiliates Equity Purchaser become the legal owner of the equity of Domestic Affiliates without any encumbrances and other unfavorable claims and equities. 

4. Payment 
 Domestic Affiliates Equity Purchaser
shall pay the equity purchase price to Lishui Mengxiang’s Shareholders and/or the direct holders of Domestic Affiliates in cash within seven (7) days from the date of the satisfaction of the following conditions or at other time designated
by WFOE: 
 a) Domestic Affiliates Equity Purchaser receives all necessary or appropriate certifying documents of approvals and the completion of
registrations relating to the assignment of the equities of Domestic Affiliates; 
 b) All ownership documents (if any) relating to the transferred
equities of Domestic Affiliates have been delivered to Domestic Affiliates Equity Purchaser; 
 c) When transferring the equities of Domestic
Affiliates to Domestic Affiliates Equity Purchaser, all taxes and fees payable for the equity transfer of Domestic Affiliates shall be paid within the statutory time limit for payment and have paid by Lishui Mengxiang’s Shareholders and/or the
direct equity holders of Domestic Affiliates, except where the laws and regulations clearly stipulate that Domestic Affiliates Equity Purchaser shall bear; and 

  
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 d) All approvals, registrations and/or filings required for Domestic Affiliates Equity Purchaser to
nominate a person to serve as a director/council member and/or legal representative of Domestic Affiliates have been completed. 
 Article III. Covenants

 1. Covenants of Lishui Mengxiang’s Shareholders 

From the effective date of this Agreement, Lishui Mengxiang’s Shareholders covenant the following to WFOE: 

a) without the prior written consent of WFOE, the equities of Domestic Affiliates directly and/or indirectly held by it shall not be sold, transferred,
assigned or otherwise disposed of; not set any encumbrances on the equities of Domestic Affiliates directly and/or indirectly held by it at any time from the effective date of this Agreement; 

b) without the prior written consent of WFOE, not increase or decrease the registered capital of Domestic Affiliates and capital contribution by sponsor,
or agree to increase or decrease the aforementioned registered capital and capital contribution by sponsor; 
 c) without the prior written consent of
WFOE, not agree to or procure the separation of Domestic Affiliates or merge with other entities;
 d) without the prior written consent of WFOE, not
dispose or procure the management of Domestic Affiliates to dispose of any assets of Domestic Affiliates, except that Domestic Affiliates may prove that the relevant asset disposal is necessary for their daily business operations, the value of the
assets involved in the individual transaction does not exceed RMB 100,000, and the total amount does not exceed RMB 300,000 within one year; 

e) without the prior written consent of WFOE, not terminate or procure the management of Domestic Affiliates to terminate any material agreement entered
into by Domestic Affiliates, or enter into any other agreement that conflicts with the existing material agreements. The aforementioned “material agreements” refer to a single agreement with a total amount of more than RMB 100,000, a
series of agreements with a total amount of more than RMB 300,000 within one year, or the Contractual Agreements and/or any agreements similar in nature or content to Contractual Agreements; 

  
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 f) without the prior written consent of WFOE, not procure Domestic Affiliates to enter into
transactions that may materially affect the assets, liabilities, business operations, equity structure and other legal rights of Domestic Affiliates (excluding the transaction produced in the normal or daily business processes of Domestic Affiliates
and the amount of such single transaction does not exceed RMB 100,000 and the total amount does not exceed RMB 300,000 within one year, or has been disclosed to WFOE and for which the written consent of WFOE has been obtained); 

g) without the prior written consent of WFOE, not procure or agree Domestic Affiliates to announce the distribution of or actually distribute any
distributable profits and/or reasonable return, or to agree to the foregoing distribution; 
 h) without the prior written consent of WFOE, not procure or
agree Domestic Affiliates to amend their articles of association; 
 i) without the prior written consent of WFOE, not lend or borrow of loans by
Domestic Affiliates, or to provide guarantees or other forms of security, or to assume any material obligations outside of normal business activities; the aforementioned “material obligations” refer to any obligation under which any
Domestic Affiliates are required to pay more than RMB 100,000, or to pay the total amount more than RMB 300,000 within one year, or that restricts and/or obstructs Domestic Affiliates from fulfilling their obligations under the Contractual
Agreements, or restricts and/or prohibits the financial and business operations of Domestic Affiliates, or that may cause changes in the equity structure of Domestic Affiliates; 

j) do their best efforts to procure Domestic Affiliates to develop their business and guarantee the legal and compliance operations, and will not carry
out any actions or omissions that may damage the assets, goodwill or affect the validity of business licenses of Domestic Affiliates. 
 k) before
transferring the equities of Domestic Affiliates to Domestic Affiliates Equity Purchaser, all the documents necessary for owning and maintaining the equities of Domestic Affiliates shall be signed without affecting the Proxy Agreement for
Shareholders and the Proxy Agreement for School’s Sponsor and Council Members; 
 l) in relation to the equity transfer of Domestic Affiliates to
Domestic Affiliates Equity Purchaser, Lishui Mengxiang’s Shareholders and/or the direct holders of the equities of Domestic Affiliates shall sign all the required documents and take all necessary actions; 

m) if fulfillment of Domestic Affiliates’ obligations under this Agreement needs Lishui Mengxiang’s Shareholders take any action as the equity
holder of Domestic Affiliates, Lishui Mengxiang’s Shareholders shall take all actions to cooperate with Domestic Affiliates in fulfilling the obligations stipulated in this Agreement; 

n) within the authority as a direct and/or indirect shareholder of Domestic Affiliates, without prejudice to Contractual Agreements, procure the
directors/council members appointed by them to exercise all their rights in Domestic Affiliates in accordance with the provisions of this Agreement, so that Domestic Affiliates may fulfill their obligations set out in this Agreement; if any
director/council member fails to exercise his rights as stated above, such director/council member shall be immediately removed; 

  
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 o) price compensation: Lishui Mengxiang’s Shareholders irrevocably promise that if WFOE or its
designated Domestic Affiliates Equity Purchaser purchases all or part of the equities directly or indirectly held by Lishui Mengxiang’s Shareholders in Domestic Affiliates with consideration exceeding RMB 0 Yuan (capital: RMB Zero Yuan), the
difference shall be compensated fully by Lishui Mengxiang’s Shareholders to WFOE or its designated entity. 
 2. Covenants of Domestic
Affiliates 
 From the effective date of this Agreement, Domestic Affiliates covenant the following to WFOE: 

a) without the prior written consent of WFOE, from the date of signing this Agreement, it will not sell, transfer, license or otherwise dispose of any assets,
or allow any encumbrances on any assets at any time, except Domestic Affiliates may prove that the disposal of related assets or the encumbrance of assets are necessary for the daily business operations and the value of the assets involved in the
individual transaction does not exceed RMB 100,000 and does not exceed RMB 300,000 within one year; 
 b) not distribute profits and/or reasonable return to
company shareholders and/or school’s sponsor in a direct or indirect manner; 
 c) operate the business of Domestic Affiliates in accordance with the
Contractual Agreements and the instructions of WFOE; 
 d) in order to maintain the ownership of the assets of Domestic Affiliates and to validate the
transactions specified in this Agreement and Contractual Agreements, all required or appropriate documents are signed from time to time; 
 e) without the
prior written consent of WFOE, the articles of association of Domestic Affiliates shall not be supplemented, altered or modified in any form, except as otherwise provided in Contractual Agreements; 

f) maintaining the continued operation of Domestic Affiliates in accordance with good financial and commercial standards and practices, and conducting their
business and handling related matters with care and efficiency; 
 g) without the prior written consent of WFOE, not pass or approve any resolutions
concerning Domestic Affiliates conducting other business, changing shareholders and/or school’s sponsor, liquidating or dissolving Domestic Affiliates; 

  
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 h) except for the cases arising from the ordinary course of business and the total amount of an individual
transaction does not exceed RMB 100,000 and does not exceed RMB 300,000 within one year, or the debts have been disclosed to WFOE and obtained its written consent, no debt will be generated, assumed or guaranteed; 

i) without the prior written consent of WFOE, no lending or guarantee for any third party will be provided to any person (including any shareholder of
Domestic Affiliates and/or school’s sponsor); 
 j) allow WFOE, Listing Company and/or its designated auditors, with reasonable notice, to audit the
relevant accounting books and records of Domestic Affiliates and their subsidiaries and units at the main office of Domestic Affiliates, and to copy the required books and records to verify the income amount and the accuracy of the statements for
any period. For this purpose, Domestic Affiliates agree to provide relevant information and materials concerning the operations, business, customers, finances, employees, etc. of Domestic Affiliates and their subsidiaries and units, and agree
the Listing Company to disclose such information and materials required by the securities regulation of the place in which it intends to be listed; 
 k)
have an insurance that is of the insurance company recognized by WFOE and whose types of coverage insured and amount are the same as that Domestic Affiliates operating similar business in the same area and other enterprises or units possessing
similar property or assets will invest; 
 l) without the prior written consent of WFOE, not merge or unite with anyone; 

m) without the prior written consent of WFOE, not acquire or invest in anyone; 

n) timely notify WFOE of any litigation, arbitration, administrative investigation or conduct that may substantially affect the assets, business or income of
Domestic Affiliates; 
 o) at the request of Domestic Affiliates Equity Purchaser, pledge or mortgage assets (as applicable) to WFOE at any time, and for
the purpose of setting and making such pledges or mortgages valid, sign all necessary documents and take all usual actions required for necessary registrations; and 

p) not conduct or allow to conduct any behaviors or actions that may adversely affect the interests of WFOE under this Agreement. 

Article IV. Representations and Warranties of Lishui Mengxiang’s Shareholders 

Lishui Mengxiang’s Shareholders represent and warrant the following to WFOE: 

  
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 a) Lishui Mengxiang’s Shareholders are all individual shareholders, who are the natural persons of the
capacity for civil right and full capacity for civil conduct, and have full and independent legal status and legal capacity to sign, deliver and perform this Agreement, and can independently act as a litigation party; 

b) all reports, documents and information provided by Lishui Mengxiang’s Shareholders to WFOE prior to and after the effective date of this Agreement,
relating to the equity of Domestic Affiliates and all matters required by this Agreement are true, accurate and complete in all material aspects at the time of entry into force of this Agreement, without any falsehood, omission or serious
misleading; 
 c) the debt situation of Lishui Mengxiang’s Shareholders disclosed to WFOE was true, complete and accurate;

d) except for the encumbrances/restriction of Domestic Affiliates and the rights restrictions imposed on the equity of Domestic Affiliates due to Contractual
Agreements that have been disclosed to WFOE, there is no other encumbrances /limitations of the equity of Domestic Affiliates directly and/or indirectly held by Lishui Mengxiang’s Shareholders; 

e) this Agreement has been duly signed by Lishui Mengxiang’s Shareholders and constitutes a legal, valid and binding obligation to Lishui
Mengxiang’s Shareholders from the effective date of this Agreement; 
 f) it has full internal power and authority to enter into and deliver this
Agreement and all other documents it shall sign relating to the transactions described in this Agreement, and have full power and authority to complete the transactions described in this Agreement; 

g) except that has been disclosed to WFOE, there is no litigation, legal process or request in any court or arbitral tribunal to Lishui Mengxiang’s
Shareholders or their assets that are pending or may constitute threats as far as known to Lishui Mengxiang’s Shareholders, and there is no litigation, legal process or request in any governmental institution or administrative agency to Lishui
Mengxiang’s Shareholders or their assets that are pending or may constitute threats known to Lishui Mengxiang’s Shareholders, which may have an adverse effect on the economic status of Lishui Mengxiang’s Shareholders or their
abilities to perform their obligations under this Agreement; 
 h) the signing and performance of this Agreement will not violate the currently valid laws,
regulations or rules applicable to it, will not violate any court judgment or arbitral award, any administrative agency’s decision, approval, permission or any other agreement that it is a party and has binding effect on the equity of its
subsidiaries and unit or sponsor’s equity interest or other assets held by it, and will not result in any suspension, revocation, confiscation or failure to renew after expiration of the applicable approval and license of the government
departments. 

  
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 Article V. Representations and Warranties of Domestic Affiliates 

Domestic Affiliates severally and not jointly represent and warrant the following to WFOE: 

a) Domestic Affiliates are companies that are properly registered as limited company and / or non-state public
institution legally existing under the laws of PRC and have complete and independent legal personality; they have full and independent legal status and legal capacity to sign, deliver and perform this Agreement, and can independently act as a
litigation party;
 b) all reports, documents and information provided by Domestic Affiliates to WFOE prior to and after the effective date of this
Agreement, relating to the equity and all matters required by this Agreement shall be true, accurate and complete in all material aspects at the time of the entry into force of this Agreement, without any falsehoods, omissions or serious misleading;

 c) the debt situation of Domestic Affiliates disclosed by it to WFOE is true, complete and accurate; 

d) except for the rights restrictions set on the equity of Domestic Affiliates due to Contractual Agreements, there are no other encumbrances or rights
restrictions on the assets and other rights held by Domestic Affiliates; 
 e) this Agreement shall be duly signed by Domestic Affiliates and constitute a
legal, valid and binding obligation to Domestic Affiliates from the effective date of this Agreement; 
 f) it has full internal power and authority of
Domestic Affiliates to enter into and deliver this Agreement and all other documents it shall sign relating to the transactions described in this Agreement, and have full power and authority to complete the transactions described in this Agreement;

 g) except that has been disclosed to WFOE, there is no litigation, legal process or request in any court or arbitral tribunal to Domestic Affiliates or
its assets that are pending or may constitute threats as far as known to Domestic Affiliates, and there is no litigation, legal process or request in any governmental institution or administrative agency to Domestic Affiliates or its assets that are
pending or may constitute threats known to Domestic Affiliates, which may have an adverse effect on the economic status of Domestic Affiliates or their abilities to perform their obligations under this Agreement; 

  
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 h) the signing and performance of this Agreement will not violate the currently valid laws, regulations or
rules applicable to it, will not violate any court judgment or arbitral award, any administrative agency’s decision, approval, permission or any other agreement that it is a party and has binding effect on the assets held by it, and will
not result in any suspension, revocation, confiscation or failure to renew after expiration of the applicable approval and license of the government departments. 

Article VI. Representations and Warrants of WFOE 
 WFOE
represents and warrants the following to Lishui Mengxiang’s Shareholders and Domestic Affiliates: 
 a) WFOE is a wholly foreign-owned enterprise that
is properly registered and legally existing under the laws of PRC and has independent legal personality. It has full and independent legal status and legal capacity to sign, deliver and perform this Agreement, and can independently act as a
litigation party; 
 b) this Agreement shall be duly signed by WFOE and constitute a legal, valid and binding obligation to WFOE from the effective date of
this Agreement; 
 c) it has full internal power and authority of WFOE to enter into and deliver this Agreement and all other documents it shall sign
relating to the transactions described in this Agreement, and have full power and authorization to complete the transactions described in this Agreement; 

d) there is no litigation, legal process or request in any court or arbitral tribunal to WFOE or its assets that are pending or may constitute threats as far
as known to WFOE, and there is no litigation, legal process or request in any governmental institution or administrative agency to WFOE or its assets that are pending or may constitute threats known to WFOE, which may have an adverse effect on the
economic status of WFOE or its abilities to perform its obligations under this Agreement; 
 e) the signing and performance of this Agreement will not
violate the currently valid laws, regulations or rules applicable to it, will not violate any court judgment or arbitral award, any administrative agency’s decision, approval, permission or any other agreement that it is a party and has
binding effect on the assets held by it, and will not result in any suspension, revocation, confiscation or failure to renew after expiration of the applicable approval and license of the government departments. 

  
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 Article VII. Damage Liability and Remedy Measures 

1. Enforcement 
 The parties unanimously agree that WFOE shall
have the right to submit the relevant breach of Lishui Mengxiang’s Shareholders or Domestic Affiliates to the arbitral institution for ruling and request enforcement. Both Lishui Mengxiang’s Shareholders and Domestic Affiliates have
acknowledged and agreed that violations of this Agreement will cause irreparable damage to WFOE, and monetary damages cannot compensate for the loss of WFOE.

2. No right of recourse to Domestic Affiliates 
 If Lishui
Mengxiang’s Shareholders violate this Agreement which results in certain actions taken by Domestic Affiliates or occurred, and such actions of Domestic Affiliates cause WFOE to exercise any of its rights under this Agreement or claim for
damage, Lishui Mengxiang’s Shareholders shall have no right to seek for compensation from Domestic Affiliates for the losses suffered thereby. 

Article IIX. Term 
 1. This Agreement shall become
effective on August 31, 2021 upon execution by the Parties. 
 2. This Agreement shall remain in force during the period of operation of Domestic
Affiliates and the period of renewal according to the provisions of PRC laws, and shall be automatically terminated once WFOE and/or the civil entity designated by Listing Company have purchased all equities of Domestic Affiliates directly or
indirectly held by Lishui Mengxiang’s Shareholders. WFOE may terminate this Agreement unilaterally after thirty (30) days notice. Unless otherwise stipulated by laws, in any case, neither Lishui Mengxiang’s Shareholders nor Domestic
Affiliates shall have the right to terminate or dissolve this Agreement unilaterally. 

  
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 3. In order to avoid any doubt, according to this Agreement, if PRC laws and regulations permit WFOE and/or
other foreign or overseas entities designated by Listing Company to directly hold part or all of the equities and/or the sponsor’s equity interest of Domestic Affiliates, and conduct private education and other restricted or prohibited business
through Domestic Affiliates, WFOE shall issue Domestic Affiliates Equity Transfer Notice as soon as practical, and the amount of (direct or indirect) equities of Domestic Affiliates purchased by Domestic Affiliates Equity Purchaser from Lishui
Mengxiang’s Shareholders shall not be lower than the maximum limit permitted by PRC laws in relation to the equity of Domestic Affiliates held by WFOE and/or other foreign or overseas entities designated by the Listing Company. This Agreement
shall automatically terminate when Domestic Affiliates Equity Purchaser have purchased all equities of Domestic Affiliates directly or indirectly held by Lishui Mengxiang’s Shareholders. 

Article IX. Confidentiality 
 1. The Parties acknowledge
and determine that any oral or written information exchanged with respect to this Agreement is confidential. All parties shall keep all such information confidential and shall not disclose any relevant information to any third party without the
prior written consent of other parties, except in the following cases: 
 a) The public is aware of or will be aware of such information (not disclosed to
the public by the recipients without permission); 
 b) Information required to be disclosed in accordance with the applicable laws and regulations, the
rules and regulations of stock exchange, or the requirements of the regulatory authority; or 
 c) Information required to be disclosed by any party to
its legal or financial adviser for the transactions described in this Agreement, and the legal or financial adviser is also subject to confidentiality obligations similar to these terms. 

2. The leak of confidential information by the staff or the institution it employs shall be deemed to be the leak of confidential information of such Party,
and such Party shall be liable for breach in accordance with this Agreement. 

  
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 3. The Parties agree that Article IX of this Agreement will continue to be effective irrespective of
whether this Agreement is invalid, altered, dissolved, terminated or not operational. 
 Article X. Force Majeure 

1. If the liability of the Parties under this Agreement shall not be fulfilled due to the event of force majeure, and the liabilities under this Agreement will
be waived within the scope of force majeure. For the purposes of this Agreement, force majeure events include only natural disasters, storms, tornadoes and other weather conditions, strikes, closures/shutdowns or other industry issues, wars,
riots, conspiracy, enemy acts, terrorist acts or violent acts of criminal organizations, blockades, serious illnesses or plagues, earthquakes or other crustal movements, floods and other natural disasters, bomb explosions or other explosions, fires,
accidents, or government actions that result in failure to comply with this Agreement. 
 2. In the event of a force majeure event, the Party affected by
the force majeure event shall endeavor to reduce and remove the effects of the force majeure event and assume the responsibility of performing the delayed and blocked obligations under the Agreement. After the event of force majeure is lifted,
the Parties agree to continue to perform this Agreement as far as possible. 
 3. In the event of a force majeure event that may result in delays,
prevention or threats to delay or prevent the performance of this Agreement, the relevant Parties shall notify the other Parties in writing and provide all relevant information. 

Article XI. Changed Circumstances 
 1. As supplement and
without contravention of other terms of Contractual Agreements, if at any time, due to the enactment or revision of any PRC laws, regulations or rules, or due to the amendment of the interpretation or application of such laws, regulations or rules,
or due to changes in the registration process, that WFOE believes that the maintenance of this Agreement in force and/or the acceptance of the right to purchase equity of Domestic Affiliates granted by Lishui Mengxiang’s Shareholder in the
manner stipulated in this Agreement become illegal or violate such laws, rules and regulations, Lishui Mengxiang’s Shareholders and Domestic Affiliates shall immediately, in accordance with WFOE’s written instructions and the
reasonable requirements of WFOE, take the action and/or sign any agreement or other document, in order to: 

  
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 a) keep this Agreement valid; 

b) exercise the right to purchase equities of Domestic Affiliates in the manner prescribed in this Agreement; and/or 

c) fulfill the intent and purpose of this Agreement by the way prescribed in this Agreement or by other means. 

Article XII. Miscellaneous 
 1. To the extent permitted by
the PRC Laws, WFOE is entitled to designate another subject (in the case of a foreign-invested enterprise established by the Listing Company in the PRC) acknowledged by the Listing Company to execute and perform an agreement with the other Parties
hereto whose terms and conditions shall be the same as or similar to the terms and conditions of the Contractual Agreements, and the other Parties hereto shall provide unconditional cooperation and support; This Agreement shall automatically
terminate from the effective date of such agreement. 
 2. Lishui Mengxiang’s Shareholders and Domestic Affiliates agree that WFOE can transfer its
rights and obligations under this Agreement to its designated party after WFOE’s written notice to Lishui Mengxiang’s Shareholders and Domestic Affiliates; but without the prior written consent of WFOE, Lishui Mengxiang’s Shareholders
or Domestic Affiliates may not transfer their rights, obligations or liabilities under this Agreement to any third party. The successor or permitted assignee of Lishui Mengxiang’s Shareholders and Domestic Affiliates (if any) shall
continue to perform all the obligations of Lishui Mengxiang’s Shareholders and Domestic Affiliates under this Agreement. 
 3. The conclusion,
validity, interpretation, performance, modification and termination of this Agreement and the resolution of disputes shall be in accordance with PRC laws. 

  
 18 

 4. Any dispute or claim arising out of or in connection with this Agreement or the performance,
interpretation, breach, termination or validity of this Agreement shall be settled through friendly negotiation. The negotiation shall begin after the written negotiation request for a specific statement of the dispute or claim has been sent to
the other Party. 
 5. If the dispute cannot be resolved within thirty (30) days of the delivery of the above notice, any party shall have the right to
submit the dispute to arbitration for settlement. The parties agree to submit the dispute to the China International Economic and Trade Arbitration Commission in Beijing for an arbitral award in accordance with the arbitration rules in
force at that time. The arbitral award is final and is legally binding on all parties. The arbitration commission is entitled to award or compensate WFOE for the losses caused by the other parties’ breach of this Agreement in respect of
sponsor’s equity interest, property interest or other assets of Domestic Affiliates, or to issue corresponding injunctions (for the need of conducting business or compulsory transfer of assets), or adjudication of the dissolution and
liquidation of Domestic Affiliates. After the arbitration award takes effect, either Party has the right to apply to the court with jurisdiction to enforce such an arbitration award. 

6. Upon the request of a party to the dispute, a court of competent jurisdiction shall have the power to grant interim relief to support the conduct of the
arbitration before the lawful constitution of the arbitral tribunal or in appropriate circumstances, such as through the detention or freezing of judgments or rulings on the sponsor’s equity interest, property interests or other assets held by
the breaching party. In addition to the courts of China, the courts of Cayman Islands, the court where the main assets of the Listing Company are located, and the court where the main assets of Domestic Affiliates are located shall also be deemed to
have jurisdiction for the above purposes. 
 7. During the arbitration period, in addition to the disputes submitted to the arbitration, the Parties to this
Agreement shall continue to perform their other obligations under this Agreement. 
 8. Any rights, powers and remedies given to the Parties under any
provision of this Agreement shall not exclude any other rights, powers or remedies that the Party may have in accordance with the law and other terms of this Agreement. The exercise of one party of its rights, powers and remedies shall not exclude
the exercise of other rights, powers and remedies available to such Party. 

  
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 9. A Party’s failure to exercise or delay of the exercise of any of its rights, powers and remedies
under this Agreement or the laws will not result in the waiver of the Rights of Such Party, and any single or partial waiver of the Rights of Such Party does not exclude the Party’s exercise of the Rights of Such Party in other ways and the
exercise of other Rights of Such Party. 
 10. The headings of each article of this agreement are for index purposes only and in no event shall such
headings be used or affect the interpretation of the provisions of this Agreement. 
 11. Each of the terms of this Agreement may be divided and independent
of each other term. If at any time any one or more of the terms of this Agreement become invalid, illegal or unenforceable, the validity, legality and enforceability of other provisions of this Agreement shall not affected. 

12. Revision of this Agreement 
 a) Through negotiations
among the Parties and approved by the shareholder (or shareholders’ meeting) of WFOE, the Parties may modify or supplement this Agreement and take all necessary steps and actions, and bear the corresponding expenses, so that any modification or
supplement can be legal and valid. 
 b) If National Association of Securities Dealers Automated Quotation (hereinafter referred to as
“NASDAQ”), American Stock Exchange or other regulatory authorities make any amendments to this Agreement, or listing rules or relevant requirements of HKEX produce any changes related to this Agreement, the Parties shall revise this
Agreement accordingly. 
 13. After effectiveness of this Agreement, this Agreement shall supersede the Exclusive Call Option Agreement entered into by the
Parties on October 13, 2018 and the Supplemental Agreement of the Exclusive Call Option Agreement entered into by the Parties on November 29, 2018. 

14. This agreement is drafted in Chinese language in six counterparts, each of which shall be held each Party to this Agreement and has the same legal effect.
If there is any inconsistency or conflict between the English translated version and the Chinese version, the Chinese version shall prevail. 

  
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 (Signature Page Follows) 

  
 21 

 (This page is the Signature Page one (1) of the Exclusive Call Option Agreement, and is left blank
intentionally.) 
  
  

	
	Qingtian Overseas Chinese International SchoolSchool (seal)
	
	Signature of legal representative/authorized representative:
	
	 /s/

  
  
  

	
	Zhejiang Lishui Mengxiang Education Development Co., Ltd. (seal)
	
	Signature of legal representative/authorized representative:
	
	 /s/

  

  
 22 

 (This page is the Signature Page two (2) of the Exclusive Call Option Agreement, and is left blank
intentionally.) 
  
  

	
	Zhejiang Mengxiang Consulting Service Co., Ltd. (seal)
	
	Signature of legal representative/authorized representative:
	
	 /s/

	
	Ye Fen
	
	 /s/

  
  
  

	
	Ye Fang
	
	 /s/

  
  
  

	
	Ye Hong
	
	 /s/

  

  
 23

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