Document:

EX-4.24

 Exhibit 4.24 

 
  

Loan Agreement 
  

 
 Between

 Beijing Cheerbright Technologies Co., Ltd. 

and 
 Lei Haiyun

 MARCH 25, 2017 

 TABLE OF CONTENTS 

 

							
	 ARTICLE
	  	PAGE	 
			
	1.	 	 DEFINITIONS AND INTERPRETATIONS
	  	 	4	 
			
	2.	 	 LOAN
	  	 	5	 
			
	3	 	 CONDITIONS PRECEDENT
	  	 	8	 
			
	4.	 	 REPRESENTATIONS AND WARRANTIES
	  	 	9	 
			
	5.	 	 UNDERTAKINGS
	  	 	11	 
			
	6	 	 ENFORCEMENT
	  	 	16	 
			
	7	 	 CONFIDENTIALITY
	  	 	17	 
			
	8	 	 DISPUTE RESOLUTION
	  	 	18	 
			
	9	 	 Indemnity
	  	 	19	 
			
	10	 	 MISCELLANEOUS
	  	 	19	 

  
  

					
	Loan Agreement	  	- 2 -	  	

 THIS LOAN AGREEMENT (Agreement) is entered into on March 25, 2017 in Beijing, People’s
Republic of China (PRC) 
 by and between 
  

	(1)	Beijing Cheerbright Technologies Co., Ltd., a wholly foreign owned enterprise duly incorporated and validly existing under the law of the PRC, with its registered address at 1010, Tower B,
No. 3, Danling Street, Haidian District, Beijing 100080, China (Party A); 

 and 

 

	(2)	Lei Haiyun, a PRC citizen, holder of identification card number ******************, whose residential address is at Room 202, No. 32, 1800 Dongfang Road, Pudong District, Shanghai (Party B).

 Recitals 
  

	A.	Party B acquired the equity interest of a PRC domestically funded limited company named Beijing Autohome Information Technology Co., Ltd. Company) in Beijing, PRC, jointly with the other shareholder (i.e.
Lu Min), and holds 50% of the equity interest of the Company (Equity Interests); 

  
  

					
	Loan Agreement	  	- 3 -	  	

	B.	Now, Party A has provided Party B with a loan to be used for the purposes of acquiring the equity interest of the Company in accordance with this Agreement. In accordance with the terms and conditions of this Agreement,
Party A agrees to provide an interest-free loan in the amount of RMB5,000,000 (Loan). 

 NOW, THEREFORE, the parties agree as
follows: 
 1. 

DEFINITIONS AND INTERPRETATIONS 
  

	1.1	Definitions. Unless otherwise provided in this Agreement, the following terms shall have the meanings set forth below: 

 

			
	Designated Party	  	means a third party as designated by Party A;
		
	Event of Default	  	means an event as described in Article 2.3;
		
	Equity Option Agreement	  	means the Equity Option Agreement to be entered into by and among Party A, Party B and the Company dated on March 25, 2017;
		
	Equity Pledge Agreement	  	means the Equity Interest Pledge Agreement to be entered into by and between Party A, Party B dated on March 25, 2017;
		
	Power of Attorney	  	means an irrevocable Power of Attorney issued by Party B conferring all his rights as a shareholder of the Company to Party A or the Designated Party dated on March 25,
2017;

  
  

					
	Loan Agreement	  	- 4 -	  	

			
		
	Repayment Notice 	  	means a written notice from Party A to Party B for purposes of the repayment of the Loan.

  

	1.2	Interpretations. All headings used are for reference purposes only and do not affect the meaning or interpretation of any provision. Any reference to an Article is to an article of this Agreement. The use of the
plural shall include the use of the singular, and vice versa. Unless otherwise indicated, a reference to a day, month or year is to a calendar day, month or year. The use of the masculine shall include the use of the feminine, and vice versa.

 2. 

LOAN 
  

	2.1	Amount. Party A has provided to Party B, and Party B has received from Party A, the Loan. The Loan shall be interest free. 

 

	2.2	Term. The term of the Loan shall continue indefinitely until such time as Party B receives a Repayment Notice and fully repays the Loan, or an Event of Default occurs unless Party A has sent a notice indicating
otherwise within 15 calendar days after it is aware of such event. 

  

	2.3	Event of Default. For purposes of this Agreement, an Event of Default is deemed to have occurred if any of the following were to apply to Party B: 

 

	 	2.3.1	a proceeding is commenced against him under any applicable bankruptcy, insolvency, reorganization, court mediation, or other similar law; 

 

	 	2.3.2	he makes or attempts to make any fraudulent use or any unauthorized transfer of the Loan or the Equity Interests; 

  
  

					
	Loan Agreement	  	- 5 -	  	

	 	2.3.3	he dies or his capacity to perform civil acts is lost or limited; 

  

	 	2.3.4	he is charged with a criminal offense; 

  

	 	2.3.5	any third party institutes a court action against him claiming over RMB 50,000; 

  

	 	2.3.6	Party B breaches any of its covenants or other obligations under this Agreement, and such breach has not been remedied within 15 calendar days after receiving Party A’s written notice requiring remedy;

  

	 	2.3.7	the representations and warranties made by Party B prove to be false or misleading in any material respect; 

  

	 	2.3.8	any indebtedness, guarantee or other obligation of Party B, whether pursuant to a contract or otherwise, (i) is accelerated as a result of a default thereunder and is required to be repaid or performed prior to the
scheduled date; or (ii) has become due and is not repaid or performed as scheduled and thereby causes Party A to regard Party B’s capacity to perform the obligations specified herein as having been adversely affected; 

 

	 	2.3.9	Party B is incapable of repaying his debts as they become due; 

  

	 	2.3.10	the Agreement is illegal as a result of any applicable laws or Party B is restricted from continuing to perform its obligations as specified herein; 

  
  

					
	Loan Agreement	  	- 6 -	  	

	 	2.3.11	any approval, permits, licenses or authorization from any applicable governmental entity (and registration or filing procedure) required for the Company to provide value added telecommunications services in respect of
its information services business via the Internet in the PRC are withdrawn, suspended, invalidated or materially amended; 

  

	 	2.3.12	any approval, permits, licenses or authorization from any applicable government authority required to perform this Agreement or make this Agreement enforceable, legal and valid are withdrawn, suspended, invalidated or
materially amended; 

  

	 	2.3.13	any property owned by Party B is altered or damaged and thereby causes Party A to deem that the capability of Party B to perform the obligations stated herein have been adversely affected; or 

 

	 	2.3.14	Party B defaults under either of the Equity Pledge Agreement or the Equity Option Agreement. 

  

	2.4	Repayment Date. Unless otherwise agreed by Party A in writing, the Loan borrowed by Party B, any portion of the Loan and any other payment in arrears, if applicable, under this Agreement shall become due and
payable five Business Days after Party A gives written notice to Party B demanding repayment in accordance with Article 6.1 (Repayment Date). Without Party A’s express prior written consent, the Loan shall not be repaid and shall continue
indefinitely until the Repayment Date. 

  

	2.5	Form of Repayment. Unless agreed by the Parties in writing, the Loan may only be repaid in the form specified in Article 6. 

  
  

					
	Loan Agreement	  	- 7 -	  	

	2.6	Purpose of Loan. Party B has accepted the Loan provided by Party A and hereby agrees and covenants that the Loan shall be used only to acquire the equity interest of the Company. Without Party A’s prior
written consent, Party B shall not use the Loan for any other purpose, or sell, assign, transfer, pledge or otherwise dispose of any legal rights or benefits in connection with, or create any security interest over, the Equity Interest to any third
party. 

 3 

CONDITIONS PRECEDENT 
 Drawdown of the Loan
by Party B shall, unless specifically waived by Party A in writing, be conditional upon the fulfillment of all of the following conditions precedent: 
  

	3.1	Representations and Warranties. All the representations and warranties provided by Party B in Article 4.2 are true, complete and correct, and shall remain true, complete and correct on the date of such
drawdown, as if they are provided on such date. 

  

	3.2	No Breach. Party B shall not have breached any of his undertakings provided in Article 5, and no event which may affect the performance of Party B’s obligations hereunder shall have occurred or be
likely to occur. 

  
  

					
	Loan Agreement	  	- 8 -	  	

 4. 

REPRESENTATIONS AND WARRANTIES 
  

	4.1	Party A’s Representations and Warranties. Party A represents and warrants as follows: 

  

	 	4.1.1	it is a company incorporated and validly existing under the laws of PRC; 

  

	 	4.1.2	it has the power to enter into and perform this Agreement, and its execution and performance of this Agreement is in compliance with the business scope of Party A and the provisions of its articles of association or
other constituent documents;  

  

	 	4.1.3	the execution and performance of this Agreement by it will not result in a breach of any laws, regulations, authorizations, or agreement to which it is subject; and 

 

	 	4.1.4	this Agreement shall constitute its legal, valid, and binding obligations, and is to be enforceable against it. 

  

	4.2	Party B’s Representations and Warranties. Party B represents and warrants as follows: 

  

	 	4.2.1	he has and shall maintain the full power and authority to enter into this Agreement and to perform his obligations hereunder; 

  

	 	4.2.2	the execution and performance of this Agreement by himself will not result in a breach of any laws, regulations, authorizations, or agreement to which he is subject; 

 

	 	4.2.3	this Agreement shall constitute his legal, valid, and binding obligations, and is to be enforceable against himself; 

  
  

					
	Loan Agreement	  	- 9 -	  	

	 	4.2.4	there are no civil, criminal or administrative, claims, actions, suits, investigations or proceedings pending or threatened against him which, based on his knowledge, would materially and adversely affect this Agreement
and the performance thereof; 

  

	 	4.2.5	there is no provision of any agreement, enforceable judgment or order of any court binding on him or affecting his property, which would in any way prevent or materially adversely affect his execution or performance of
this Agreement; 

  

	 	4.2.6	the execution and performance of this Agreement and the realization of Party A’s rights hereunder will not violate any mortgage right, contract, judgment, decree or law that is binding upon him or his assets;

  

	 	4.2.7	with the exception of the Equity Pledge Agreement, the Equity Option Agreement and the Power of Attorney, he has not: (a) created any pledge, charge or any other security over any of the Equity Interests;
(b) offered to transfer any of the Equity Interests to any third party; (c) issued an undertaking to any third party regarding any offer to purchase any of the Equity Interests; or (d) entered into any agreement to transfer any of the
Equity Interests to any third party; and 

  

	 	4.2.8	no dispute, action, arbitration, administrative procedure or other legal proceeding (potential or actual) regarding himself and/or any of the Equity Interests in existence or pending. 

  
  

					
	Loan Agreement	  	- 10 -	  	

 5. 

UNDERTAKINGS 
  

	5.1	Party B’s Undertakings relating to the Company. Party B undertakes to vote his total interest in the Company and to take all other necessary actions to ensure that the Company:

  

	 	5.1.1	will obtain or complete all the necessary governmental approvals, authorizations, licenses, registrations and filing procedures to own its assets and to engage in the businesses specified in the operational scope of its
business license; 

  

	 	5.1.2	will not supplement, change, or modify in any way its articles of association or other constituent documents, increase or reduce its registered capital, or alter its shareholding structure without the prior written
consent of Party A; 

  

	 	5.1.3	will not sell, transfer, mortgage, pledge, grant any option rights or otherwise dispose of any asset, business or legal or beneficial interest, or permit the creation of any other security interest over the same without
the prior written consent of Party A; 

  

	 	5.1.4	will not incur, inherit, warrant or permit the existence of any Loan without the prior written consent of Party A; 

  
  

					
	Loan Agreement	  	- 11 -	  	

	 	5.1.5	will not enter into any contracts or extend any loan or credit to any party or provide any guarantee or assume any obligation of any party without the prior written consent of Party A; 

 

	 	5.1.6	will provide all information relating to its operations and financial affairs to Party A upon the request of Party A; 

  

	 	5.1.7	will not merge, consolidate with any third party, or acquire or invest in any third party, without the prior written consent of Party A; 

 

	 	5.1.8	will notify Party A immediately should any legal action, arbitration or administrative procedure relating to its assets, operations or income arises or is likely to arise; 

 

	 	5.1.9	will execute all necessary or appropriate agreements, take all necessary or appropriate actions and make all necessary or appropriate defenses for the purpose of maintaining all rights and proprietary interests in
respect of its assets; 

  

	 	5.1.10	will not pay dividends or distributions of any kind to its shareholders without the prior written consent of Party A; 

  

	 	5.1.11	will strictly observe all of the provisions under this Agreement, the Equity Pledge Agreement, the Equity Option Agreement and the Power of Attorney and shall not cause any act or omission to take place which may impair
the validity and enforceability of those documents; and 

  
  

					
	Loan Agreement	  	- 12 -	  	

	 	5.1.12	will promptly notify Party A in writing of the occurrence of any event which may materially affect its assets, obligations, rights or operations. 

 

	5.2	Undertakings of Party B. Party B further undertakes as follows: 

  

	 	5.2.1	he will not sell, transfer, mortgage, pledge, grant any option rights or otherwise dispose of any of the Equity Interests, or permit the creation of any other security interest in the Company without the prior written
consent of Party A; 

  

	 	5.2.2	he will ensure that the shareholders’ meeting of the Company shall not approve any sale, transfer, pledge or other disposal of the Equity Interests, or permit the creation of any other security interest over the
same without the prior written consent of Party A; 

  

	 	5.2.3	he will ensure that the shareholders’ meeting of the Company shall decide on any matter only with the prior written instruction of Party A; 

 

	 	5.2.4	he will notify Party A immediately if and when any legal action, arbitration, or administrative procedure relating to the Equity Interests arises or is likely to arise; 

 

	 	5.2.5	he will enter into all necessary or appropriate agreements, take all necessary or appropriate actions, file all necessary or appropriate and make all necessary or appropriate defenses for the purpose of maintaining
ownership of the Equity Interests at the instruction of Party A; 

  
  

					
	Loan Agreement	  	- 13 -	  	

	 	5.2.6	he will not cause any actions and/or omissions which may materially and adversely affect the assets, operations or liability of the Company without the prior written consent of Party A; 

 

	 	5.2.7	he will, upon the request of Party A, appoint any person nominated by Party A as a director of the Company; 

  

	 	5.2.8	in the event that the Party A or the Designated Party purchases the Equity Interests pursuant to the Equity Option Agreement, he shall apply the proceeds therefrom to repay the Loan to Party A; 

 

	 	5.2.9	he will promptly notify Party A in writing of the occurrence of any event which may materially affect his assets, obligations, rights or operations; 

 

	 	5.2.10	he shall issue the Power of Attorney simultaneously when entering into this Agreement; 

  

	 	5.2.11	the Equity Option Agreement shall be validly executed, pursuant to which Party B shall grant Party A or the Designated Party with an exclusive option to purchase the Equity Interests, to the extent permitted under PRC
law; 

  
  

					
	Loan Agreement	  	- 14 -	  	

	 	5.2.12	the Equity Pledge Agreement, the Equity Option Agreement, and the Power of Attorney shall be in full effect and free of default, and all relevant filing or registrations procedures, approvals, and governmental
proceedings shall have been obtained or completed; 

  

	 	5.2.13	he will strictly observe all the provisions and perform all of his obligations under this Agreement, the Equity Pledge Agreement and the Equity Option Agreement, causing no actions nor failing to take any actions that
may impair the validity or enforceability of this Agreement, the Equity Pledge Agreement or the Equity Option Agreement; 

  

	 	5.2.14	he shall maintain as strictly confidential the existence and provisions of this Agreement, as well as any correspondence, resolutions, ancillary agreements and any other documentation associated herewith; and

  

	 	5.2.15	he will not be entitled to any dividend or profit distribution of the Company and will not request or receive any of the same without the prior written consent of Party A. If such dividends or other distributions are
distributed to him from the Company, he will immediately and unconditionally pay or transfer to Party A any such dividends or other distributions in whatsoever form obtained from the Company as a shareholder of the Company at the time such payables
arise, after having deducted and paid any and all relevant taxes and expenses applicable as a result of his receipt of such dividends or other distributions. 

  
  

					
	Loan Agreement	  	- 15 -	  	

 6  

ENFORCEMENT 
  

	6.1	Repayment of Loan. 

  

	 	6.1.1	Upon the occurrence of either an Event of Default or a decision by Party A, in its sole discretion, to demand repayment of the Loan or any portion of the Loan, Party A may at its discretion issue a notice (Repayment
Notice) to Party B requiring repayment of the Loan or any portion of the Loan and any other payment in arrears under this Agreement. 

  

	 	6.1.2	Party B shall repay the Loan by transferring the Equity Interest to Party A or the Designated Party, as directed by Party A, by signing and delivering an agreement for the transfer of the Equity Interest satisfactory to
the Party A from the form to the substance. 

  

	 	6.1.3	If Party B fails to comply with its repayment obligations under this Agreement, late payment interest shall be assessed at the rate of 0.3% per day upon the outstanding amount of the Loan and shall be payable from the
Repayment Date until the date on which the total amount of the overdue loan, overdue interest and other monies payable to Party A are fully settled. 

  

	6.2	Notification. Party B shall immediately notify Party A in writing of the occurrence of any event set forth in Article 2.3 or any circumstance which may lead to the occurrence of any such event as soon as Party B
knows or is aware of such event or circumstance. 

  
  

					
	Loan Agreement	  	- 16 -	  	

 7 

CONFIDENTIALITY 
  

	7.1	Confidentiality Obligations. The parties shall protect and maintain the confidentiality of all information relating to or arisen from this Agreement, or made available under this Agreement to a party or any
associate thereof (Confidential Information). Without the prior written consent of the other party, no party shall disclose any Confidential Information to any third party unless the disclosure is required by law or by enforceable orders of
the court or related government departments. Under such circumstances, the party required to disclose the Confidential Information shall notify the other party immediately, take all possible measures to minimize the disclosure, and notify the
persons to whom information is being disclosed of the confidentiality obligation. Notwithstanding anything to the contrary above, Party A shall have the full right to disclose any Confidential Information to its shareholders, affiliates or
professional advisors. 

  

	7.2	Obligations upon Termination. Upon termination of this Agreement, either party shall, at the request of the other party, return any document, material, database, equipment, or software containing the Confidential
Information to the other party. If, for any reason, such document, material, database, equipment, or software cannot be returned, either party shall destroy all the Confidential Information belonging to the other party and delete such Confidential
Information from any memory devices. No party shall be permitted to continue using the Confidential Information in any way after the termination of this Agreement. 

  
  

					
	Loan Agreement	  	- 17 -	  	

	7.3	No Time Limit. There is no time limit to the confidentiality obligations stipulated in this Article, which obligations will survive the termination of this Agreement unless the Confidential Information is
disclosed to the public for reasons not due to the breach of this Agreement by any party. 

 8 

DISPUTE RESOLUTION 
  

	8.1	Governing Law. This Agreement shall be governed by the laws of the PRC. 

  

	8.2	Consultation and Mediation. If any dispute arises in connection with this Agreement, the parties shall attempt in the first instance to resolve such dispute through friendly consultation or mediation.

  

	8.3	Arbitration. Any dispute, controversy or claim arising out of or in connection with this Agreement shall be submitted to the China International Economic and Trade Arbitration Commission (CIETAC) for
arbitration, which shall be conducted in accordance with the CIETAC’s rules in effect at the time of applying for arbitration. The place of arbitration shall be Beijing. The language of the arbitration shall be Chinese. The tribunal
shall consist of 3 arbitrators. The arbitral award is final and binding upon the parties. The cost of arbitration shall be allocated as determined by the arbitrators. 

  
  

					
	Loan Agreement	  	- 18 -	  	

 9 

INDEMNITY 
 Party A agrees to indemnify and
hold harmless Party B for any damages, fines or penalties solely incurred in his capacity as a shareholder or any other positions (including, without limitation, those of legal representative and director) directly as a result of the establishment
of the Company and the operation of the Company’s business in contravention of PRC law; provided, however, that in no instance will Party A provide such indemnification if Party B has engaged in fraud or willful misconduct or has breached or is
in breach of this Agreement. 
 10 

MISCELLANEOUS 
  

	10.1	Notices. All notices or other communications sent by either party shall be written in English or Chinese, and delivered in person, by mail or telecopy, to the other party at the following addresses. The
date at which the communication shall be deemed to be duly given or made shall be confirmed as follows: (a) for notices delivered in person, the date of delivery shall be deemed as having been duly given or made; (b) for notices delivered
by mail, the 10th day of the delivery date of air certified mail with postage prepaid (as shown on stamp) or the 4th day of the delivery date
to an internationally certified delivery institution shall be deemed as having been duly given or made; and (c) for notices by telecopy, the receipt date showed on the delivery confirming paper of the relevant document shall be deemed as having
been duly given or made. 

  
  

					
	Loan Agreement	  	- 19 -	  	

 
					
	Party A	  	:	  	Beijing Cheerbright Technologies Co., Ltd.
	Address	  	:	  	1010, Tower B, No. 3, Danling Street, Haidian District, Beijing 100080, China
	Tel	  	:	  	86-10-59857001
	Attn	  	:	  	Lu Min
			
	Party B	  	:	  	Lei Haiyun
	Address	  	:	  	Room 202, No. 32, 1800 Dongfang Road, Pudong District, Shanghai
	Tel	  	:	  	+*************
	Attn	  	:	  	Lei Haiyun

  

	10.2	Entire Agreement. This Agreement, the Exclusive Technical Consulting and Services Agreement, the Equity Pledge Agreement, the Equity Option Agreement, and the Power of Attorney from Party B to Party A in favor of
Party A shall constitute the entire agreement among the parties in respect of the subject matter hereof and shall supersede any previous discussions, negotiations and agreements related thereto. 

  
  

					
	Loan Agreement	  	- 20 -	  	

	10.3	Amendment. Without the prior written consent of Party A, Party B shall not amend this Agreement. If required by law, the parties shall obtain all requisite approvals from the relevant authorities to give effect
to the amendment. 

  

	10.4	No Waiver. Unless otherwise agreed upon by the parties in writing, any failure or delay on the part of either party to exercise any right, authority or privilege under this Agreement, or under any other agreement
relating hereto, shall not operate as a waiver thereof; nor shall any single or partial exercise of any right, authority or privilege preclude any other future exercise thereof. 

 

	10.5	Severability. The provisions of this agreement are severable from each other. The invalidity of any provision of this agreement shall not affect the validity or enforceability of any other provision of this
agreement. 

  

	10.6	Successors. This Agreement shall be valid and binding on the parties, their successors and permitted assigns. 

  

	10.7	Assignment. Party A may transfer or assign any or all of its rights and obligations under this Agreement to any of its designated parties (natural person or legal entity) at any time. In such circumstances, the
transferee or assignee shall enjoy and undertake the same rights and obligations herein of Party A as if the transferee or assignee is Party A hereunder. When Party A transfers or assigns the rights and obligations under this Agreement, at the
request of Party A, Party B shall execute the relevant agreements and/or documents with respect to such transfer or assignment. Party B shall not assign any of its rights or obligations hereunder without the prior written consent of the Party A.

  
  

					
	Loan Agreement	  	- 21 -	  	

	10.8	Effectiveness: This Agreement shall be effective upon its signing by all the parties or their respective authorized representative and shall be deemed terminated as of the date when the Loan has been repaid in
full. 

  

	10.9	Language and Counterparts. This Agreement is prepared in 2 sets of originals both in English and Chinese. Each party shall hold 1 set. Chinese articles shall prevail over English articles in case of any
inconsistency. 

 [The space below has been intentionally left blank.] 

  
  

					
	Loan Agreement	  	- 22 -	  	

 IN WITNESS WHEREOF, each of the parties hereto has duly executed or has caused this Agreement to be duly
executed in its name and on its behalf by the officer or representative duly authorized, on the day and year first above written. 
  

			
	Party A: Beijing Cheerbright Technologies Co., Ltd.
	
	 /s/ Lu Min

	Name:	 	/Lu Min/
	Title:	 	Legal Representative

  

	
	Party B: Lei Haiyun
	
	 /s/ Lei Haiyun

  
  

					
	Loan AgreementEX-4.25

 Exhibit 4.25 

 
  

Loan Agreement 
  

 
 Between

 Beijing Cheerbright Technologies Co., Ltd. 

and 
 Lu Min 

SEPTEMBER 30, 2016 

 TABLE OF CONTENTS 

 

							
	 ARTICLE
	  	PAGE	 
			
	1.	  	DEFINITIONS AND INTERPRETATIONS	  	 	4	 
			
	2.	  	LOAN	  	 	5	 
			
	3	  	CONDITIONS PRECEDENT	  	 	8	 
			
	4.	  	REPRESENTATIONS AND WARRANTIES	  	 	9	 
			
	5.	  	UNDERTAKINGS	  	 	11	 
			
	6	  	ENFORCEMENT	  	 	16	 
			
	7	  	CONFIDENTIALITY	  	 	17	 
			
	8	  	DISPUTE RESOLUTION	  	 	18	 
			
	9	  	Indemnity	  	 	19	 
			
	10	  	MISCELLANEOUS	  	 	20	 

  
  

					
	Loan Agreement	  	- 2 -	  	

 THIS LOAN AGREEMENT (Agreement) is entered into on September 30, 2016 in Beijing, People’s
Republic of China (PRC) 
 by and between 
  

	(1)	Beijing Cheerbright Technologies Co., Ltd., a wholly foreign owned enterprise duly incorporated and validly existing under the law of the PRC, with its registered address at 1010, Tower B,
No. 3, Danling Street, Haidian District, Beijing 100080, China (Party A); 

 and 

 

	(2)	Lu Min, a PRC citizen, holder of identification card number ******************, whose residential address is at Room 901, No. 6, Dehua Street, Xingang West Road, Haizhu District, Guangzhou.;

 Recitals 
  

	A.	Party B acquired the equity interest of a PRC domestically funded limited company named Guangzhou You Che You Jia Advertising Co., Ltd. (Company) in Guangzhou, PRC, jointly with the other shareholder (i.e.
Lei Haiyun), and holds 50% of the equity interest of the Company (Equity Interests); 

  
  

					
	Loan Agreement	  	- 3 -	  	

	B.	Now, Party A has provided Party B with a loan to be used for the purposes of acquiring the equity interest of the Company in accordance with this Agreement. In accordance with the terms and conditions of this Agreement,
Party A agrees to provide an interest-free loan in the amount of RMB500,000 (Loan). 

 NOW, THEREFORE, the parties agree as
follows: 
 1. DEFINITIONS AND INTERPRETATIONS 
  

	1.1	Definitions. Unless otherwise provided in this Agreement, the following terms shall have the meanings set forth below: 

 

			
	Designated Party	  	means a third party as designated by Party A;
		
	Event of Default	  	means an event as described in Article 2.3;
		
	Equity Option Agreement	  	means the Equity Option Agreement to be entered into by and among Party A, Party B and the Company dated on September 30, 2016;
		
	Equity Pledge Agreement	  	means the Equity Interest Pledge Agreement to be entered into by and between Party A, Party B dated on September 30, 2016;
		
	Power of Attorney	  	means an irrevocable Power of Attorney issued by Party B conferring all his rights as a shareholder of the Company to Party A or the Designated Party dated on September 30, 2016;

  
  

					
	Loan Agreement	  	- 4 -	  	

 
			
		
	Repayment Notice	  	means a written notice from Party A to Party B for purposes of the repayment of the Loan.

  

	1.2	Interpretations. All headings used are for reference purposes only and do not affect the meaning or interpretation of any provision. Any reference to an Article is to an article of this Agreement. The use
of the plural shall include the use of the singular, and vice versa. Unless otherwise indicated, a reference to a day, month or year is to a calendar day, month or year. The use of the masculine shall include the use of the feminine, and vice versa.

 2. LOAN 
  

	2.1	Amount. Party A has provided to Party B, and Party B has received from Party A, the Loan. The Loan shall be interest free. 

 

	2.2	Term. The term of the Loan shall continue indefinitely until such time as Party B receives a Repayment Notice and fully repays the Loan, or an Event of Default occurs unless Party A has sent a notice indicating
otherwise within 15 calendar days after it is aware of such event. 

  

	2.3	Event of Default. For purposes of this Agreement, an Event of Default is deemed to have occurred if any of the following were to apply to Party B: 

 

	 	2.3.1	a proceeding is commenced against him under any applicable bankruptcy, insolvency, reorganization, court mediation, or other similar law; 

 

	 	2.3.2	he makes or attempts to make any fraudulent use or any unauthorized transfer of the Loan or the Equity Interests; 

  
  

					
	Loan Agreement	  	- 5 -	  	

	 	2.3.3	he dies or his capacity to perform civil acts is lost or limited; 

  

	 	2.3.4	he is charged with a criminal offense; 

  

	 	2.3.5	any third party institutes a court action against him claiming over RMB 50,000; 

  

	 	2.3.6	Party B breaches any of its covenants or other obligations under this Agreement, and such breach has not been remedied within 15 calendar days after receiving Party A’s written notice requiring remedy;

  

	 	2.3.7	the representations and warranties made by Party B prove to be false or misleading in any material respect; 

  

	 	2.3.8	any indebtedness, guarantee or other obligation of Party B, whether pursuant to a contract or otherwise, (i) is accelerated as a result of a default thereunder and is required to be repaid or performed prior to the
scheduled date; or (ii) has become due and is not repaid or performed as scheduled and thereby causes Party A to regard Party B’s capacity to perform the obligations specified herein as having been adversely affected; 

 

	 	2.3.9	Party B is incapable of repaying his debts as they become due; 

  

	 	2.3.10	the Agreement is illegal as a result of any applicable laws or Party B is restricted from continuing to perform its obligations as specified herein; 

  
  

					
	Loan Agreement	  	- 6 -	  	

	 	2.3.11	any approval, permits, licenses or authorization from any applicable governmental entity (and registration or filing procedure) required for the Company to provide value added telecommunications services in respect of
its information services business via the Internet in the PRC are withdrawn, suspended, invalidated or materially amended; 

  

	 	2.3.12	any approval, permits, licenses or authorization from any applicable government authority required to perform this Agreement or make this Agreement enforceable, legal and valid are withdrawn, suspended, invalidated or
materially amended; 

  

	 	2.3.13	any property owned by Party B is altered or damaged and thereby causes Party A to deem that the capability of Party B to perform the obligations stated herein have been adversely affected; or 

 

	 	2.3.14	Party B defaults under either of the Equity Pledge Agreement or the Equity Option Agreement. 

  

	2.4	Repayment Date. Unless otherwise agreed by Party A in writing, the Loan borrowed by Party B, any portion of the Loan and any other payment in arrears, if applicable, under this Agreement shall become due and
payable five Business Days after Party A gives written notice to Party B demanding repayment in accordance with Article 6.1 (Repayment Date). Without Party A’s express prior written consent, the Loan shall not be repaid and shall continue
indefinitely until the Repayment Date. 

  
  

					
	Loan Agreement	  	- 7 -	  	

	2.5	Form of Repayment. Unless agreed by the Parties in writing, the Loan may only be repaid in the form specified in Article 6. 

  

	2.6	Purpose of Loan. Party B has accepted the Loan provided by Party A and hereby agrees and covenants that the Loan shall be used only to acquire the equity interest of the Company. Without Party A’s prior
written consent, Party B shall not use the Loan for any other purpose, or sell, assign, transfer, pledge or otherwise dispose of any legal rights or benefits in connection with, or create any security interest over, the Equity Interest to any third
party. 

 3 CONDITIONS PRECEDENT 

Drawdown of the Loan by Party B shall, unless specifically waived by Party A in writing, be conditional upon the fulfillment of all of the following
conditions precedent: 
  

	3.1	Representations and Warranties. All the representations and warranties provided by Party B in Article 4.2 are true, complete and correct, and shall remain true, complete and correct on the date of such
drawdown, as if they are provided on such date. 

  

	3.2	No Breach. Party B shall not have breached any of his undertakings provided in Article 5, and no event which may affect the performance of Party B’s obligations hereunder shall have occurred or be
likely to occur. 

  
  

					
	Loan Agreement	  	- 8 -	  	

 4. REPRESENTATIONS AND WARRANTIES 

 

	4.1	Party A’s Representations and Warranties. Party A represents and warrants as follows: 

  

	 	4.1.1	it is a company incorporated and validly existing under the laws of PRC; 

  

	 	4.1.2	it has the power to enter into and perform this Agreement, and its execution and performance of this Agreement is in compliance with the business scope of Party A and the provisions of its articles of association or
other constituent documents;  

  

	 	4.1.3	the execution and performance of this Agreement by it will not result in a breach of any laws, regulations, authorizations, or agreement to which it is subject; and 

 

	 	4.1.4	this Agreement shall constitute its legal, valid, and binding obligations, and is to be enforceable against it. 

  

	4.2	Party B’s Representations and Warranties. Party B represents and warrants as follows: 

  

	 	4.2.1	he has and shall maintain the full power and authority to enter into this Agreement and to perform his obligations hereunder; 

  

	 	4.2.2	the execution and performance of this Agreement by himself will not result in a breach of any laws, regulations, authorizations, or agreement to which he is subject; 

  
  

					
	Loan Agreement	  	- 9 -	  	

	 	4.2.3	this Agreement shall constitute his legal, valid, and binding obligations, and is to be enforceable against himself; 

  

	 	4.2.4	there are no civil, criminal or administrative, claims, actions, suits, investigations or proceedings pending or threatened against him which, based on his knowledge, would materially and adversely affect this Agreement
and the performance thereof; 

  

	 	4.2.5	there is no provision of any agreement, enforceable judgment or order of any court binding on him or affecting his property, which would in any way prevent or materially adversely affect his execution or performance of
this Agreement; 

  

	 	4.2.6	the execution and performance of this Agreement and the realization of Party A’s rights hereunder will not violate any mortgage right, contract, judgment, decree or law that is binding upon him or his assets;

  

	 	4.2.7	with the exception of the Equity Pledge Agreement, the Equity Option Agreement and the Power of Attorney, he has not: (a) created any pledge, charge or any other security over any of the Equity Interests;
(b) offered to transfer any of the Equity Interests to any third party; (c) issued an undertaking to any third party regarding any offer to purchase any of the Equity Interests; or (d) entered into any agreement to transfer any of the
Equity Interests to any third party; and 

  
  

					
	Loan Agreement	  	- 10 -	  	

	 	4.2.8	no dispute, action, arbitration, administrative procedure or other legal proceeding (potential or actual) regarding himself and/or any of the Equity Interests in existence or pending. 

5. UNDERTAKINGS 
  

	5.1	Party B’s Undertakings relating to the Company. Party B undertakes to vote his total interest in the Company and to take all other necessary actions to ensure that
the Company: 

  

	 	5.1.1	will obtain or complete all the necessary governmental approvals, authorizations, licenses, registrations and filing procedures to own its assets and to engage in the businesses specified in the operational scope of its
business license; 

  

	 	5.1.2	will not supplement, change, or modify in any way its articles of association or other constituent documents, increase or reduce its registered capital, or alter its shareholding structure without the prior written
consent of Party A; 

  

	 	5.1.3	will not sell, transfer, mortgage, pledge, grant any option rights or otherwise dispose of any asset, business or legal or beneficial interest, or permit the creation of any other security interest over the same without
the prior written consent of Party A; 

  
  

					
	Loan Agreement	  	- 11 -	  	

	 	5.1.4	will not incur, inherit, warrant or permit the existence of any Loan without the prior written consent of Party A; 

  

	 	5.1.5	will not enter into any contracts or extend any loan or credit to any party or provide any guarantee or assume any obligation of any party without the prior written consent of Party A; 

 

	 	5.1.6	will provide all information relating to its operations and financial affairs to Party A upon the request of Party A; 

  

	 	5.1.7	will not merge, consolidate with any third party, or acquire or invest in any third party, without the prior written consent of Party A; 

 

	 	5.1.8	will notify Party A immediately should any legal action, arbitration or administrative procedure relating to its assets, operations or income arises or is likely to arise; 

 

	 	5.1.9	will execute all necessary or appropriate agreements, take all necessary or appropriate actions and make all necessary or appropriate defenses for the purpose of maintaining all rights and proprietary interests in
respect of its assets; 

  

	 	5.1.10	will not pay dividends or distributions of any kind to its shareholders without the prior written consent of Party A; 

  
  

					
	Loan Agreement	  	- 12 -	  	

	 	5.1.11	will strictly observe all of the provisions under this Agreement, the Equity Pledge Agreement, the Equity Option Agreement and the Power of Attorney and shall not cause any act or omission to take place which may impair
the validity and enforceability of those documents; and 

  

	 	5.1.12	will promptly notify Party A in writing of the occurrence of any event which may materially affect its assets, obligations, rights or operations. 

 

	5.2	Undertakings of Party B. Party B further undertakes as follows: 

  

	 	5.2.1	he will not sell, transfer, mortgage, pledge, grant any option rights or otherwise dispose of any of the Equity Interests, or permit the creation of any other security interest in the Company without the prior written
consent of Party A; 

  

	 	5.2.2	he will ensure that the shareholders’ meeting of the Company shall not approve any sale, transfer, pledge or other disposal of the Equity Interests, or permit the creation of any other security interest over the
same without the prior written consent of Party A; 

  

	 	5.2.3	he will ensure that the shareholders’ meeting of the Company shall decide on any matter only with the prior written instruction of Party A; 

 

	 	5.2.4	he will notify Party A immediately if and when any legal action, arbitration, or administrative procedure relating to the Equity Interests arises or is likely to arise; 

  
  

					
	Loan Agreement	  	- 13 -	  	

	 	5.2.5	he will enter into all necessary or appropriate agreements, take all necessary or appropriate actions, file all necessary or appropriate and make all necessary or appropriate defenses for the purpose of maintaining
ownership of the Equity Interests at the instruction of Party A; 

  

	 	5.2.6	he will not cause any actions and/or omissions which may materially and adversely affect the assets, operations or liability of the Company without the prior written consent of Party A; 

 

	 	5.2.7	he will, upon the request of Party A, appoint any person nominated by Party A as a director of the Company; 

  

	 	5.2.8	in the event that the Party A or the Designated Party purchases the Equity Interests pursuant to the Equity Option Agreement, he shall apply the proceeds therefrom to repay the Loan to Party A; 

 

	 	5.2.9	he will promptly notify Party A in writing of the occurrence of any event which may materially affect his assets, obligations, rights or operations; 

 

	 	5.2.10	he shall issue the Power of Attorney simultaneously when entering into this Agreement; 

  
  

					
	Loan Agreement	  	- 14 -	  	

	 	5.2.11	the Equity Option Agreement shall be validly executed, pursuant to which Party B shall grant Party A or the Designated Party with an exclusive option to purchase the Equity Interests, to the extent permitted under PRC
law; 

  

	 	5.2.12	the Equity Pledge Agreement, the Equity Option Agreement, and the Power of Attorney shall be in full effect and free of default, and all relevant filing or registrations procedures, approvals, and governmental
proceedings shall have been obtained or completed; 

  

	 	5.2.13	he will strictly observe all the provisions and perform all of his obligations under this Agreement, the Equity Pledge Agreement and the Equity Option Agreement, causing no actions nor failing to take any actions that
may impair the validity or enforceability of this Agreement, the Equity Pledge Agreement or the Equity Option Agreement; 

  

	 	5.2.14	he shall maintain as strictly confidential the existence and provisions of this Agreement, as well as any correspondence, resolutions, ancillary agreements and any other documentation associated herewith; and

  

	 	5.2.15	he will not be entitled to any dividend or profit distribution of the Company and will not request or receive any of the same without the prior written consent of Party A. If such dividends or other distributions are
distributed to him from the Company, he will immediately and unconditionally pay or transfer to Party A any such dividends or other distributions in whatsoever form obtained from the Company as a shareholder of the Company at the time such payables
arise, after having deducted and paid any and all relevant taxes and expenses applicable as a result of his receipt of such dividends or other distributions. 

  
  

					
	Loan Agreement	  	- 15 -	  	

 6 ENFORCEMENT 

 

	6.1	Repayment of Loan. 

  

	 	6.1.1	Upon the occurrence of either an Event of Default or a decision by Party A, in its sole discretion, to demand repayment of the Loan or any portion of the Loan, Party A may at its discretion issue a notice (Repayment
Notice) to Party B requiring repayment of the Loan or any portion of the Loan and any other payment in arrears under this Agreement. 

  

	 	6.1.2	Party B shall repay the Loan by transferring the Equity Interest to Party A or the Designated Party, as directed by Party A, by signing and delivering an agreement for the transfer of the Equity Interest satisfactory to
the Party A from the form to the substance. 

  

	 	6.1.3	If Party B fails to comply with its repayment obligations under this Agreement, late payment interest shall be assessed at the rate of 0.3% per day upon the outstanding amount of the Loan and shall be payable from the
Repayment Date until the date on which the total amount of the overdue loan, overdue interest and other monies payable to Party A are fully settled. 

  
  

					
	Loan Agreement	  	- 16 -	  	

	 	6.2	Notification. Party B shall immediately notify Party A in writing of the occurrence of any event set forth in Article 2.3 or any circumstance which may lead to the occurrence of any such event as soon as Party B
knows or is aware of such event or circumstance. 

 7 CONFIDENTIALITY 

 

	7.1	Confidentiality Obligations. The parties shall protect and maintain the confidentiality of all information relating to or arisen from this Agreement, or made available under this Agreement to a party or any
associate thereof (Confidential Information). Without the prior written consent of the other party, no party shall disclose any Confidential Information to any third party unless the disclosure is required by law or by enforceable orders of
the court or related government departments. Under such circumstances, the party required to disclose the Confidential Information shall notify the other party immediately, take all possible measures to minimize the disclosure, and notify the
persons to whom information is being disclosed of the confidentiality obligation. Notwithstanding anything to the contrary above, Party A shall have the full right to disclose any Confidential Information to its shareholders, affiliates or
professional advisors. 

  
  

					
	Loan Agreement	  	- 17 -	  	

	7.2	Obligations upon Termination. Upon termination of this Agreement, either party shall, at the request of the other party, return any document, material, database, equipment, or software containing the Confidential
Information to the other party. If, for any reason, such document, material, database, equipment, or software cannot be returned, either party shall destroy all the Confidential Information belonging to the other party and delete such Confidential
Information from any memory devices. No party shall be permitted to continue using the Confidential Information in any way after the termination of this Agreement. 

 

	7.3	No Time Limit. There is no time limit to the confidentiality obligations stipulated in this Article, which obligations will survive the termination of this Agreement unless the Confidential Information is
disclosed to the public for reasons not due to the breach of this Agreement by any party. 

 8 DISPUTE RESOLUTION

  

	8.1	Governing Law. This Agreement shall be governed by the laws of the PRC. 

  

	8.2	Consultation and Mediation. If any dispute arises in connection with this Agreement, the parties shall attempt in the first instance to resolve such dispute through friendly consultation or mediation.

  
  

					
	Loan Agreement	  	- 18 -	  	

	8.3	Arbitration. Any dispute, controversy or claim arising out of or in connection with this Agreement shall be submitted to the China International Economic and Trade Arbitration Commission (CIETAC) for
arbitration, which shall be conducted in accordance with the CIETAC’s rules in effect at the time of applying for arbitration. The place of arbitration shall be Beijing. The language of the arbitration shall be Chinese. The tribunal
shall consist of 3 arbitrators. The arbitral award is final and binding upon the parties. The cost of arbitration shall be allocated as determined by the arbitrators. 

9 INDEMNITY 
 Party A agrees to
indemnify and hold harmless Party B for any damages, fines or penalties solely incurred in his capacity as a shareholder or any other positions (including, without limitation, those of legal representative and director) directly as a result of the
establishment of the Company and the operation of the Company’s business in contravention of PRC law; provided, however, that in no instance will Party A provide such indemnification if Party B has engaged in fraud or willful misconduct or has
breached or is in breach of this Agreement. 

  
  

					
	Loan Agreement	  	- 19 -	  	

 10 MISCELLANEOUS 

 

	10.1	Notices. All notices or other communications sent by either party shall be written in English or Chinese, and delivered in person, by mail or telecopy, to the other party at the following addresses. The date at
which the communication shall be deemed to be duly given or made shall be confirmed as follows: (a) for notices delivered in person, the date of delivery shall be deemed as having been duly given or made; (b) for notices delivered by mail,
the 10th day of the delivery date of air certified mail with postage prepaid (as shown on stamp) or the 4th day of the delivery date to an
internationally certified delivery institution shall be deemed as having been duly given or made; and (c) for notices by telecopy, the receipt date showed on the delivery confirming paper of the relevant document shall be deemed as having been
duly given or made. 

  

					
	Party A	 	:	    	Beijing Cheerbright Technologies Co., Ltd.
	Address	 	:	    	1010, Tower B, No. 3, Danling Street, Haidian District, Beijing 100080, China
	Tel	 	:	    	86-10-59857001
	Attn	 	:	    	Lu Min
			
	Party B	 	:	    	Lu Min
	Address	 	:	    	Room 901, No. 6, Dehua Street, Xingang West Road, Haizhu District, Guangzhou
	Tel	 	:	    	+*************
	Attn	 	:	    	Lu Min

  

	10.2	Entire Agreement. This Agreement, the Exclusive Technical Consulting and Services Agreement, the Equity Pledge Agreement, the Equity Option Agreement, and the Power of Attorney from Party B to Party A in favor of
Party A shall constitute the entire agreement among the parties in respect of the subject matter hereof and shall supersede any previous discussions, negotiations and agreements related thereto. 

  
  

					
	Loan Agreement	  	- 20 -	  	

	10.3	Amendment. Without the prior written consent of Party A, Party B shall not amend this Agreement. If required by law, the parties shall obtain all requisite approvals from the relevant authorities to give effect
to the amendment. 

  

	10.4	No Waiver. Unless otherwise agreed upon by the parties in writing, any failure or delay on the part of either party to exercise any right, authority or privilege under this Agreement, or under any other agreement
relating hereto, shall not operate as a waiver thereof; nor shall any single or partial exercise of any right, authority or privilege preclude any other future exercise thereof. 

 

	10.5	Severability. The provisions of this agreement are severable from each other. The invalidity of any provision of this agreement shall not affect the validity or enforceability of any other provision of this
agreement. 

  

	10.6	Successors. This Agreement shall be valid and binding on the parties, their successors and permitted assigns. 

  
  

					
	Loan Agreement	  	- 21 -	  	

	10.7	Assignment. Party A may transfer or assign any or all of its rights and obligations under this Agreement to any of its designated parties (natural person or legal entity) at any time. In such circumstances, the
transferee or assignee shall enjoy and undertake the same rights and obligations herein of Party A as if the transferee or assignee is Party A hereunder. When Party A transfers or assigns the rights and obligations under this Agreement, at the
request of Party A, Party B shall execute the relevant agreements and/or documents with respect to such transfer or assignment. Party B shall not assign any of its rights or obligations hereunder without the prior written consent of the Party A.

  

	10.8	Effectiveness: This Agreement shall be effective upon its signing by all the parties or their respective authorized representative and shall be deemed terminated as of the date when the Loan has been repaid in
full. 

  

	10.9	Language and Counterparts. This Agreement is prepared in 2 sets of originals both in English and Chinese. Each party shall hold 1 set. Chinese articles shall prevail over English articles in case of any
inconsistency. 

 [The space below has been intentionally left blank.] 

  
  

					
	Loan Agreement	  	- 22 -	  	

 IN WITNESS WHEREOF, each of the parties hereto has duly executed or has caused this Agreement to be duly
executed in its name and on its behalf by the officer or representative duly authorized, on the day and year first above written. 
  

			
	Party A: Beijing Cheerbright Technologies Co., Ltd.
	
	 /s/ Lu Min

	Name:	 	/Lu Min/
	Title:	 	Legal Representative

  

			
	Party B: Lu Min
	
	 /s/ Lu Min

  
  

					
	Loan Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00269-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00269-of-00352.parquet"}]]