Document:

Exhibit 10.5

 

 

 

 

SHARES
PLEDGE AGREEMENT

 

BY
AND AMONG

 

CHUANGXIANG
NETWORK TECHNOLOGY (SHENZHEN) LIMITED

 

 

AND

 

 

JIYING
LI

 

HUIBIN
SU

 

CHAORAN
ZHANG

 

 

 

 

April
20, 2017

 

 

 

 

 

    

     

    

 

SHARES
PLEDGE AGREEMENT

(Translation
Copy)

 

THIS
SHARES PLEDGE AGREEMENT (this “Agreement”), is entered into as of the 20th day of April, 2017
in Shenzhen, the Peoples Republic of China (the PRC)

 

By
and among

 

Party
A: Chuangxiang Network Technology (Shenzhen) Limited

Entity
Registration Number: 440300MA5DAEP93

Registered
Address: Room 201, Building A, 1 Qianwan Road 1, Qianhai Deep Harbor Cooperation Zone (sharing offices with Shenzhen Qianhai Commerce
Secretary Limited)

Legal
Representative: Jiyin Li

 

Party
B: Jiyin Li

(China)
Citizen ID Number: 410203198712131555

Address:
No. 12 Building 5, Dirun Road 2, Jinshui District, Zhenzhou City, China

 

Party
C: Huibin Su

(China)
Citizen ID Number: 440781198001200210

Address:
Room 503, Huanyuan Street 5, Haizhu District, Guangzhou City, China

 

Party
D: Chaoran Zhang

(China)
Citizen ID Number: 440112197809270019

Address:
Room 503, Huajin Road 72, Tianhe District, Guangzhou City, China

 

(Party
A, Party B, Party C and Party D individually being referred to as a Party and collectively the Parties).

 

WHEREAS

 

		1.	Party
                                         A is a validly registered wholly foreign owned entity in the People’s Republic
                                         of China (“P.R. China” or “China”) , duly incorporated and in
                                         a good standing;

 

    	 	1	 

     

    

 

		2.	Shenzhen
                                         Chuangxiang Network Technology Limited (the “Company”) is a validly registered
                                         limited liability company under PRC law, duly incorporated and in good standing;

 

		3.	Party
                                         B, Party C and Party D are the total shareholders (collectively, the “Shareholders”)
                                         of the Company, holding 60%, 20% and 20% of issued and outstanding shares of Company,
                                         respectively, representing 100% equity interest of the Company in aggregate;

 

		4.	Party
                                         A and the Company entered into an Exclusive Technology Consulting Service Agreement on
                                         April 20, 2017;

 

		5.	Party
                                         A, the Shareholders and the Company entered into a Business Operation Management Agreement
                                         on April 20, 2017;

 

		6.	Party
                                         A, the Shareholders and the Company entered into an Exclusive Purchase Option Agreement
                                         on April 20, 2017;

 

		7.	To
                                         ensure the performance of the Exclusive Technology Consulting Service Agreement, the
                                         Business Operation Management Agreement and the Exclusive Purchase Option Agreement and
                                         Party A’s legal rights and interests thereunder, the Shareholders (hereinafter,
                                         the “Pledgors”) agree to pledge all their shares of the Company to Party
                                         A (hereinafter, the “Pledgee”) as a security interest of the agreements set
                                         forth herein above.

 

NOW,
THEREFORE, in consideration of the premises, the mutual covenants and agreements herein contained, and other good and valuable
consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the parties hereto, intending to be bound,
do hereby agree as follows:

 

 

ARTICLE
1: DEFINITIONS

 

Unless
otherwise provided in this Agreement, the following terms shall have the following meanings:

 

		1.1	Pledge
                                         means the full content of Article 2 hereunder.

 

		1.2	Shares
                                         means the shares in the Company respectively held by the Pledgors including the rights
                                         and benefits underlying to be realized at any time.

 

		1.3	The
                                         Agreements mean the Exclusive Technology Consulting Service Agreement, the Business Operation
                                         Management Agreement and the Exclusive Purchase Option Agreement.

 

    	 	2	 

     

    

 

		1.4	Event
                                         of Default means any event in accordance with Article 7 hereunder.

 

		1.5	Notice
                                         of Default means the notice of default issued by the Pledgee in accordance with this
                                         Agreement.

 

ARTICLE
2: PLEDGE

 

		2.1	The
                                         Pledgors assign, convey to the Pledgee, for its benefit, a pledge over and security interest
                                         in all of their respective shares in the Company to secure all and any rights and privileges
                                         that the Pledgee is entitled to under each of the Agreements.

 

		2.2	In
                                         order to avoid any indoubtness, despite of the disappearance of party of the Secured
                                         Indebtedness, the Pledgors assign, convey to the Pledgee, for its benefit, a pledge over
                                         and security interest in all of their respective Shares in Kewen Dangdang as a security
                                         of the remaining part of the Secured Indebtedness in accordance with the provisions of
                                         this Agreement.

 

		2.3	The
                                         scope of the security interest under this Agreement including all payables of any fees
                                         (including legal fee), expenses, losses, interests, indemnification, liquidated damages,
                                         compensation incurred by the Pledgors and/or the Company to the Pledgee in connection
                                         with each of the Agreement of the Pledgors and the obligations of the Company and the
                                         Pledgors in default of each of the Agreement in full or in part by any cause.

 

		2.4	Except
                                         prior written consent of the Pledgee, the Pledge and the Pledgors shall not be released
                                         until the Company and the Pledgors have completed fulfilled their obligations under each
                                         of the Agreements and such fulfilled has been confirmed by the Pledgee in written. Within
                                         the effective period of this Agreement, in case that the Pledgee exercise the Option
                                         and therefore obtains all or part of the shares, the relative Pledge over that part of
                                         Share disappear in proportion as of the execution date of the Shares transfer and the
                                         shares pledged by the Pledgors reduce in the same proportion.

 

    	 	3	 

     

    

 

ARTICLE
3: THE EFFECTIVENESS AND TERM OF PLEDGE

 

		3.1	The
                                         effectiveness of this Agreement

 

This
Agreement shall become valid upon the execution by the respective duly authorized representatives of the Parties and take effect
upon the registration of the Pledge on the shareholder book of the Company. The Pledge set forth in this Agreement shall take
effect upon the registration with the relevant Industry and Commerce Bureau of PRC or other applicable regulatory authority.

 

		3.2	During
                                         the term of the Pledge, the Pledgee is entitled to exercise the rights under the Pledge
                                         if the Pledgors and/or the Company fails to perform or fulfill their obligations under
                                         the Business Operation Management Agreement and the Exclusive Purchase Option Agreement.

 

		3.3	The
                                         Pledgee can terminate this Agreement by a written notice at least 30 days in advance
                                         of the termination.

 

ARTICLE
4: POSSESSION AND PERFECTION OF PLEDGE DOCUMENTS

 

		4.1	Each
                                         Pledgor shall deliver as security to the Pledgees within 15 business days of the execution
                                         of this Agreement or on an earlier date agreed by all parties, the original copy of all
                                         certificates representing the pledged shares owned by such Pledgor and proof of registration
                                         of the Pledge on the shareholder book of the Company. Each Pledgor shall promptly register
                                         the Pledge with relevant regulatory authority as required by the applicable China laws
                                         and regulations.

 

		4.2	In
                                         the event that there is a change in the Pledge or to the security interest created hereunder
                                         requiring a change of the registration of the Pledge, the Pledgors and the Company shall
                                         complete such registration within 5 business days of the occurrence of such event and
                                         delivery the documents evidencing such registration to the Pledgee.

 

		4.3	During
                                         the term of the Agreement, the Pledgors shall instruction the Company not to pay any
                                         dividends, distribution bonuses, or any other payments which they would otherwise be
                                         authorized to receive and retain as shareholders; if the Pledgors have received any dividends,
                                         distribution bonuses, or any other payments which they would otherwise be authorized
                                         to receive and retain as shareholders; they shall instruction the Company to transfer
                                         the proceeds (in cash value of any distribution) to the bank account designated by the
                                         Pledgee and the Pledgors are not allowed to accept any such distribution without the
                                         written consent of Party A.

 

		4.4	During
                                         the term of this Agreement, any increased equity interest due to the subscription of
                                         increased registered capital of the Company (the “New Shares”) by each Pledgor
                                         shall be automatically be added into the Pledge and such Pledgor shall complete the relevant
                                         registration of the Pledge in the New Shares with the regulatory authority. If such Pledgor
                                         cannot complete the registration promptly as set forth in this paragraph, the Pledgee
                                         shall be entitled to exercise or cause to be exercised the same, the Pledge immediately
                                         in accordance with Section 8 of this Agreement.

 

    	 	4	 

     

    

 

ARTICLE
5: REPRESENTATIONS AND WARRANTIES OF THE PLEDGORS

 

Each
Pledgor hereby represents and warrants to the Pledgee, for the benefit of the Pledgee, and to confirm that the Pledgor’s
reliance on such representations and warranties to enter into and perform its obligations under this Agreement, as follows:

 

		5.1	Each
                                         Pledgor has legal title to the Pledged Collateral of such Pledgor. Each Pledgor has all
                                         power, statutory and otherwise, to execute and deliver this Agreement, to perform their
                                         obligations hereunder and to subject the Collateral Shares to the security interest created
                                         hereby.

 

		5.2	At
                                         any time during the period from the execution of this Agreement to the Pledgee exercises
                                         the rights hereunder pursuant to Article 2.4 of this Agreement, there will be no legal
                                         and valid intervene or other third party’s claim when the Pledges exercises or
                                         causes it exercised the same, Pledge granted by this Agreement.

 

		5.3	The
                                         Pledgee has the right to exercise the Pledge in compliance with the relevant China law
                                         and regulation and as set forth in this Agreement.

 

		5.4	The
                                         Pledgor has all appropriate civil rights, powers and capabilities, to execute and deliver
                                         this Agreement, to perform their obligations hereunder.

 

		5.5	The
                                         pledged shares are not subject to any right entitlement, obligations, securities interest,
                                         or otherwise granted to any third party (including but not limited to pledge).

 

		5.6	No
                                         Pledge pledged by each Pledgor is subject to any pending civil, regulatory or criminal
                                         litigation or regulatory proceedings or arbitration, and will not be subject to any foregoing
                                         civil, regulatory or criminal litigation or regulatory proceedings or arbitration.

 

		5.7	No
                                         Pledge pledged by each Pledgor is subject to any unpaid tax payable, expense payable
                                         or any pending legal proceedings.

 

		5.8	Each
                                         Pledgor confirms the terms of this Agreement accurately reflects its true intention and
                                         agrees to the legal binding effect of this Agreement.

 

    	 	5	 

     

    

 

ARTICLE
6: COVENANTS AND UNDERTAKINGS OF THE PLEDGORS

 

		6.1	Each
                                         Pledgor hereby covenants, that during the term of this Agreement, such Pledgors shall:

 

		6.1.1	not
                                         transfer the pledged shares, or grant or allow to grant any third party any lien, securities
                                         interests or other rights on the pledged shares unless consented by the Pledgee in writing
                                         except for the transfer of the pledged shares to a designed party by the Pledgee.

 

		6.1.2	comply
                                         with the relevant law and regulation of PRC and notify the Pledgee within 5 business
                                         days of the receipt of any notice, order or guidance from the relevant regulatory authority
                                         and respond in accordance with the reasonable instructions given by Party A.

 

		6.1.3	promptly
                                         notify the Pledgee of occurrence of any event or receipt of any notice that may substantially
                                         change the obligations of such Pledgor under this Agreement or materially adversely affect
                                         the performance of such Pledgor under this Agreement and act in accordance with the reasonable
                                         instructions given by the Pledgee.

 

		6.2	Each
                                         Pledgor agrees and warrants that there will be no restrictions, intervene or interruption
                                         in any form by such Pledgor, or the estate of such Pledgor, or the assignee of such Pledgor
                                         when the Pledgee exercises or claims Pledge hereunder.

 

		6.3	Each
                                         Pledgor consents to the Pledgee that, to the extent necessary to ensure the perfections
                                         of the Pledge and the performance of the obligations of such Pledgor and/or the Company
                                         under this Agreement, it will amend the articles of incorporation and/or bylaws of the
                                         Company; execute or cause to execute any certificate, agreement and/or instrument with
                                         any party to act under the Pledgee’s instructions to provide convenience for the
                                         Pledgee to exercise its rights; execute documents with the Pledgee or its designed party
                                         to transfer the pledged shares; and deliver the appropriate document evidencing the Pledgee’s
                                         security interest in the Pledge within a reasonable period.

 

		6.4	Each
                                         Pledgor confirms to the Pledgee that such Pledgor shall comply with and execute all the
                                         representations, warranties, agreements and covenants contained herein for the interest
                                         of the Pledgee. Such Pledgor agrees to indemnify any damage, loss caused by its default
                                         of its representations, warranties, agreements and covenants herein.

 

    	 	6	 

     

    

 

ARTICLE
7: EVENT OF DEFAULT

 

		7.1	The
                                         occurrence of any one or more of the following events shall constitute an event of default
                                         (an “Event of Default”) under this Agreement:

 

		7.1.1	Failure
                                         to perform its obligation under any Agreement by the Company, the Pledgors or their successors
                                         or assignees.

 

		7.1.2	The
                                         Pledgors make any material misleading or fraudulent representations and warranties in
                                         Article 5 of this Agreement, or covenants in Articles 6 of this Agreement being or becoming
                                         materially inaccurate, and/or the Pledgors are in violation of any warranties or covenants
                                         under Article 5 or Article 6 herein, as the case may be.

 

		7.1.3	The
                                         Pledgors violate any terms and conditions herein;

 

		7.1.4	The
                                         Pledgors abandon or transfer its pledged shares without the prior written consent of
                                         the Pledgee except in accordance with the terms set forth in Article 6.1.1;

 

		7.1.5	The
                                         Pledgors’ any external loan, security, compensation, covenants or any other compensation
                                         liabilities (1) are required to be repaid or performed prior to the scheduled due date;
                                         or (2) are due but can not be repaid or performed as scheduled and thereby cause the
                                         Pledgee to deem that the Pledgors’ capacity to perform the obligations herein has
                                         been impacted;

 

		7.1.6	The
                                         Pledgors are incapable of repaying general debts or other debts which impacts the rights
                                         and interests of the Pledgee;

 

		7.1.7	This
                                         Agreement is illegal for the reason of the promulgation of the related laws or the Pledgors'
                                         incapability of continuing to perform the obligations herein;

 

		7.1.8	Any
                                         approval, permits, licenses or authorization from the competent authority of the government
                                         needed to perform this Agreement or validate this Agreement are withdrawn, suspended,
                                         invalidated or materially amended;

 

		7.1.9	The
                                         properties of the Pledgors are adversely changed and cause the Pledgee to deem that the
                                         capability of the Pledgors of performing the obligations herein has been impacted;

 

		7.1.10	Other
                                         circumstances whereby the Pledgors are incapable of exercising the right to dispose of
                                         the Pledge in accordance with the related laws.

 

    	 	7	 

     

    

 

		7.2	The
                                         Pledgors shall give written notice to the Pledgee if the Pledgors are aware of or find
                                         that any event under Article 7.1 herein or any events that may result in the foregoing
                                         events have happened.

 

		7.3	Unless
                                         the event of default under Article 7.1 herein has been solved to the Pledgee's satisfaction,
                                         the Pledgee, at any time when the event of default happens or thereafter, may give written
                                         notice of default to the Pledgors and require the Pledgors to immediately dispose of
                                         the Pledge in accordance with the applicable laws of PRC. If the Pledgors or the Company
                                         have not corrected the default or make necessary remedy, the Pledgee can exercise the
                                         right of the Pledge in accordance with Article 8 of this Agreement.

 

ARTICLE
8: EXERCISE OF THE RIGHT OF THE PLEDGE

 

		8.1	Except
                                         for the written consent of the Pledgee, the Pledgors shall not transfer the pledged shares
                                         before the complete fulfillment of their respective obligations under this Agreement;

 

		8.2	The
                                         Pledgee shall give notice of default to the Pledgors when the Pledgee exercises the right
                                         of Pledge in accordance with Article 7.3 of this Agreement.

 

		8.3	Subject
                                         to Article 7.3, the Pledgee may exercise the right to dispose of the right of Pledge
                                         at any time when the Pledgee give notice of default in accordance with Article 7.3 or
                                         thereafter.

 

		8.4	The
                                         Pledgee is entitled to transfer or assign full or a portion of the pledged shares herein
                                         in accordance with legal procedure or compensated with a priority during the auction
                                         or sale of the pledged shares.

 

		8.5	The
                                         Pledgors shall not hinder the Pledgee from disposing of the Pledge in accordance with
                                         this Agreement and shall give necessary assistance so that the Pledgee can realize the
                                         Pledge.

 

ARTICLE
9: TRANSFER OR ASSIGNMENT

 

		9.1	The
                                         Pledgors shall not transfer their rights and obligations herein to a third party without
                                         prior written consent from the Pledgee.

 

		9.2	This
                                         Agreement shall be effective and binding upon the successors of each of the Pledgors
                                         and the Pledgee and the assignees as designated by the Pledgee.

 

    	 	8	 

     

    

 

		9.3	The
                                         Pledgee can transfer any or assign all or part of its rights and interests under the
                                         Agreements to any designated third party. The Transferee is entitled to the equal rights
                                         and interests as the Pledgee on the pledged shares transferred. The Pledgors shall execute
                                         the transfer agreement and/or other document at the request of the Pledgee.

 

		9.4	After
                                         the Pledgee is changed for the reason of the transfer or assignment, the parties to the
                                         changed Pledge shall execute the pledge agreement and the Pledgors shall be responsible
                                         for related registration (with applicable regulatory authority).

 

ARTICLE
10: FEES AND OTHER EXPENDITURE

 

		10.1	Each
Party will bear its own fees and other expenditure in relation to this Agreement including but not limited to legal fees, costs,
stamp tax and any other taxes and charges.

 

 

ARTICLE
11. FORCE MAJEURE

 

		11.1	Force
Majeure means any of the events beyond the reasonable control of one party, and even under the attention of the affected party,
any of the events is still unavoidable, including but not limited to, acts of government, the forces of nature, fire, explosion,
geographic variation, storms, floods, earthquakes, tidal, lightning or war. However, the insufficient credit, fund or financing
shall not be considered as events beyond the reasonable control of one party. The affected party shall promptly notify the other
party the occurrence of the force majeure.

 

		11.2	If
the performance of either Party’s obligation under this Agreement is delayed, prevented, restricted, or interfered with
by reason of force majeure as set forth in Article 11.1 herein, the Party so affected shall be excused from such performance to
the extent of such delay, prevention, restriction or interference. The Party so affected shall use reasonable efforts to reduce
or eliminate the impact of force majeure and perform the delayed or interfered obligations. Once force majeure is eliminated,
the Parties agree to use respective best efforts to per this Agreement.

 

		11.3	The
Parties shall bear the respective loss and damages caused by force majeure.

 

    	 	9	 

     

    

 

ARTICLE
12: GOVERNING LAW AND DISPUTE SETTLEMENT

 

		12.1	The
                                         execution, validity, interpretation, performance and the dispute resolution of this Agreement
                                         shall be governed by the laws of PRC (for the purpose of this Agreement, the laws of
                                         PRC limits to the laws of the main land China and excludes the laws of Hong Kong, Macau
                                         or Taiwan).

 

		12.2	Any
                                         disputes arising from or relating to this Agreement shall be resolved through consultation
                                         by the Parties. In case of a failure to reach an agreement through consultations within
                                         thirty (30) days, each Party can submit the disputes to the China International Economics
                                         & Trade Arbitration Commission Huanan Branch for arbitration in accordance with its
                                         Arbitration Rules in effect at the time of the arbitration. The arbitration shall be
                                         held in Shenzhen. The arbitral award shall be final and binding upon the Parties.

 

ARTICLE
13: NOTICE

 

Unless
otherwise designated by the other Party, any notices of other correspondences among the Parties in connection with the performance
of this Agreement shall be delivered in person, by personal delivery, certified mail, pre-stamped mail, express mall or facsimile
to the following correspondence addresses:

 

 

	Party A 	Chuangxiang Network Technology (Shenzhen) Limited
	Address	Room 201, Building A, 1 Qianwan Road 1, Qianhai Deep Harbor Cooperation Zone

(sharing offices with Shenzhen Qianhai Commerce Secretary Limited)
	Facsimile: 	 
	Telephone	 
	Attention	 
	 	 
	 	 
	Party B	Jiyin Li
	Address	 
	Facsimile:	 
	Telephone	 
	Attention 	 

 

    	 	10	 

     

    

 

	Party C	Huibin Su
	Address	 
	Facsimile	 
	Telephone	 
	Attention 	 
	 	 
	 	 
	Party D	Chaoran Zhang
	Address	 
	Facsimile	 
	Telephone	 
	Attention	 

 

ARTICLE
14: CONFIDENTIALITY

 

No
party to this Agreement shall publicize, divulge or disclose any information regarding this Agreement, the transaction under this
Agreement, unless that (1) disclosure is required by applicable laws or rules of any stock exchange; (2) information has been
made publicly known without the default of any party; (3) disclosure is made to its shareholder, legal counsel, accountant financial
advisor or other professional; or (4) the other party gives a written consent in advance.

 

ARTICLE
15: EXHIBITS

 

Exhibits
to this Agreement constitute a valid part of this Agreement and shall be included for its integrity.

 

ARTICLE
16: WAIVER

 

The
failure or delay of a Party to exercise any rights, power or privilege under this Agreement shall not be treated as a waiver of
its rights. Any exercise of any right, power or privilege in part or in full as set forth in this Agreement shall not be traded
as the exclusion to other right, power or privilege. The rights and remedies in the event of the default set forth in this Agreement
do not exclude any rights, remedies or power granted by as applicable laws of PRC.

 

    	 	11	 

     

    

 

ARTICLE
17: MISCELLENOUS

 

		17.1	This
                                         Agreement and any amendments, modification, supplements, additions or changes hereto
                                         shall be in writing and come into effect upon being executed and sealed by the Pledgors
                                         and the Pledgee hereto.

 

		17.2	This
                                         Agreement sets forth the fair and reasonable agreements among the Parties based on equal
                                         and value consideration. If any article of this Agreement is not valid or cannot be fulfilled
                                         due to conflict with any law of PRC, it does not impact the effectiveness and the force
                                         of other articles of this Agreement.

 

		17.3	The
                                         Shareholders represent that in the event there is a change of the Shareholder or its
                                         ownership in share of the Company due to any reason (including but not limited to bankruptcy,
                                         divorce, death, etc.), this Agreement is legally binding to the Shareholder’s inherits
                                         or transferees and subject any shares held by the inherits or the transferees which shall
                                         be treated as the successor party to this Agreement.

 

		17.4	This
                                         Agreement shall be executed in five (5) copies. Each has the same legal effect with one
                                         (1) copy for the registration with the applicable regulatory authority.

 

[THE
REMAINDER OF THIS PAGE IS ITENTIONALLY LEFT BLANK]

 

    	 	12	 

     

    

[EXECUTION
PAGE]

 

SIGNED
and SEALED by

For
and on behalf of

Party
A: Chuangxiang Network Technology (Shenzhen) Limited

Legal
Representative: Jiyin Li

 

SIGNED
by

Party
B: Jiyin Li

 

SIGNED
by

Party
C: Huibin Su

 

SIGNED
by

Party
D: Chaoran Zhang

 

    	 	13	 

     

    

 

Exhibits:

 

		1.	Shareholder
                                         List of the Company;

		2.	Proof
                                         of Capital Contribution of Shareholders

 

    	 	14	 

     

    

 

Shenzhen
Chuangxiang Network Technology Limited

Shareholder
List

As
the date of _____, 2017

 

	Name of Shareholder	 	ID Number	 	Capital Contribution	 	Amount of registered capital (RMB)	 	Amount of capital contribution (RMB)	 	% of capital contribution	 	Certificate number of the capital contribution	 	Note
	Jiyin Li	 	410203198712131555	 	cash	 	3 Million	 	3 Million	 	60%	 	001	 	Pledged to Chuangxiang Network Technology (Shenzhen) Limited on __, 2017
	Huibin Su	 	440781198001200210	 	cash	 	3 Million	 	3 Million	 	20%	 	002	 	Pledged to Chuangxiang Network Technology (Shenzhen) Limited on __, 2017
	Chaoran Zhang	 	440112197809270019	 	cash	 	3 Million	 	3 Million	 	20%	 	003	 	Pledged to Chuangxiang Network Technology (Shenzhen) Limited on __, 2017

 

Sealed
by the company: Shenzhen Chuangxiang Network Technology Limited

Legal
Representation: /s/ Jiyin Li

Date:
April 20, 2017

 

    SL-1

     

    

 

Shenzhen
Chuangxiang Network Technology Limited

Certificate
of Capital Contribution

 

(Number:
0001)

 

Shenzhen
Chuangxiang Network Technology Limited (the “Company”) was incorporated on August 14, 2015 and was validly registered
with Shenzhen Market Supervision Bureau (registration number 44030034988710X5). It is current registered capital is RMB 5 million.

 

Jiyin
Li, a shareholder of the Company (PRC ID number: 410203198712131555) has agreed to contribute the capital of RMB 3 million representing
60% of the Company’s registered capital and injected the fund in accordance with the articles of incorporation of the Company.
The Company hereby issues this certificate certifying his capital contribution.

 

 

Sealed
by

 

Shenzhen
Chuangxiang Network Technology Limited

April
20, 2017

 

    SL-2

     

    

 

Shenzhen
Chuangxiang Network Technology Limited

Certificate
of Capital Contribution

 

(Number:
0002)

 

Shenzhen
Chuangxiang Network Technology Limited (the “Company”) was incorporated on August 14, 2015 and was validly registered
with Shenzhen Market Supervision Bureau (registration number 44030034988710X5). It is current registered capital is RMB 5 million.

 

Huibin
Su, a shareholder of the Company (PRC ID number: 440781198001200210) has agreed to contribute the capital of RMB 1 million representing
20% of the Company’s registered capital and injected the fund in accordance with the articles of incorporation of the Company.
The Company hereby issues this certificate certifying his capital contribution.

 

 

Sealed
by

 

Shenzhen
Chuangxiang Network Technology Limited

April
20, 2017

 

    SL-3

     

    

 

Shenzhen
Chuangxiang Network Technology Limited

Certificate
of Capital Contribution

 

(Number:
0003)

 

Shenzhen
Chuangxiang Network Technology Limited (the “Company”) was incorporated on August 14, 2015 and was validly registered
with Shenzhen Market Supervision Bureau (registration number 44030034988710X5). It is current registered capital is RMB 5 million.

 

Chaoran
Zhang, a shareholder of the Company (PRC ID number: 440112197809270019) has agreed to contribute the capital of RMB 1 million
representing 20% of the Company’s registered capital and injected the fund in accordance with the articles of incorporation
of the Company. The Company hereby issues this certificate certifying his capital contribution.

 

 

Sealed
by

 

Shenzhen
Chuangxiang Network Technology Limited

April
20, 2017

 

 

SL-4Exhibit 10.6

 

Intellectual Property Rights Licensing
Contract

 

(Translation)

 

Party A (licensor) : Shenzhen
Chuangxiang Network Technology Limited 

 

Address: room 201, building A, no.1 qianwan
road, qianhai shenzhen-hong kong cooperation zone, Shenzhen (entering Shenzhen qianhai commercial secretary co., LTD.

 

Legal representative: Jiyin Li.

 

Party B (licensee) : Chuangxiang
Network Technology (Shenzhen) Co., LTD.

 

Address: room 201, building A, no.1 qianwan
road, qianhai shenzhen-hong kong cooperation zone, Shenzhen (entering Shenzhen qianhai commercial secretary co., LTD.

 

Legal representative: Jiyin Li.

 

Part One The General

 

Party A and party B
in line with the voluntary, equality, fairness, honesty and credit principle, authorized by party A to party B to use its own intellectual
property matters, based on fully friendly consultation, conclude the following contract, to be kept together.

 

Article 1 Licensing

 

Party A shall grant
Party B the right to use the trademark, works and other rights through a package of authorization, and the specific authorization
content shall be stipulated in other parts of this contract.

 

Article 2 Time Limit

 

1. The
term of this contract is 10 years, from April 20, 2017 to April 20, 2027. Both parties may terminate or renew the contract in advance
according to the contract.

 

    1

     

    

 

2. Party
B tend to renew the contract ,need to submit the contract to party A in writing within 2 months prior to the expiration of this
contract. Party A agrees to sign a renewal contract with party B.

 

Part Two Trademark License

 

Article 3 Trademark used for licensing

 

The trademark party
A authorizes party B to use is the registered trademark of which party A have exclusive right when the contract becomes effective.
(please refer to the attachment for detailed information of trademark logo and scope of use)

 

Article 4 Scope of permission to use

 

(1) Party A authorizes party B to use the
trademark of the territory scope is unlimited.

 

 (2) At the same time, party
B shall limit the use of the trademark to the goods or services approved by party A's registered trademark.

 

Article 5 Supervision and filing

 

(1) Party A shall have the right to supervise
the quality of products and service which use the authorized trademark by licensee. Party B shall guarantee the quality of goods
and service of the registered trademark.

 

 (2) Party B shall indicate
the name of party B and the origin of the goods on the goods, service sites or carriers that use the registered trademark of party
A.

 

 (3) Party A shall be responsible
for filing the trademark license within the scope of this contract to the trademark office.

 

    2

     

    

 

Article 6 The nature of the license

 

 (1) Party A authorizes party
B to use the registered trademark for ordinary license, while party B cannot authorize other units or individuals to use the registered
trademark.

 

 (2) Party A shall have the
right or authorize other third party to use the registered trademark covered by this contract in the same place and manner as party
B.

 

Article 7 The rights and obligations of
both parties

 

 (1) During the term of this
contract, party A shall ensure the validity of the registered trademark and the renewal of the registered trademark in time.

 

 (2) Party A shall not arbitrarily
change the words, graphics, letters, numbers, three-dimensional marks and color combinations of party A's registered trademark;
Party B shall not use the trademark without the range of goods or services approved by the registered trademark.

 

If party A finds that
party B has violated the provisions of this paragraph and does not correct the time limit specified by party A, party A shall have
the right to revoke the license of the corresponding trademark.

 

 (3) Party A shall have the
right to supervise and inspect the products and services of party B using the registered trademark, and party B shall actively
cooperate with party A; If party A finds that party B's products or services are inferior in quality and does not correct within
the time limit specified by party A, party A shall have the right to revoke the license of the corresponding trademark.

 

 (4) Party B's goods or services
in the process of using party A's trademark, cause violation for consumers or other third parties, liability shall be borne by
party B. If party A take responsibility on compensation, party B should make compensation for party A's loss.

 

 (5) Party B shall not in any
way to make, use, or in the same or similar category register with party A registered trademark or chartered logo identical or
similar trademarks, otherwise party A has the right to cancel the corresponding trademark licensing.

 

    3

     

    

 

 (6) In the process of party
B in the use of a registered trademark, due to the reason of party B by administrative organs shall be investigated for legal responsibility,
all liability shall be borne by party B, if party A therefore was fined by the administrative organs, party B shall bear the liability
of economic and other losses of party A for compensation.

 

Part Three copyright licenses

 

Article 8 Licensed work

 

When the contract comes
into effect, party A authorizes party B to use the computer software works and other works that it enjoys copyright. (please refer
to the appendix of the contract for specific works)

 

Article 9 Scope and method of authorization
to use

 

 (1) Party A authorizes party
B to use the geographical scope of party A's works is unlimited.

 

(2) Party B shall copy the works of party
A as is, in the territory authorized to use and reproduce the original copy of party A's works in the premises of party B. In addition,
party B shall not use party A's works in other ways. The other copyright rights of party A for its work items (i.e., the law of
the People's Republic of China copyright law stipulated in article 10 of the rights other than copy rights), party B if needs to
use, separately authorized by party A is necessary.

 

Article 10 The nature of the license

 

 (1) Party A authorizes party
B to use its works for general permission, while party B cannot authorize other units or individuals to use the works of party
A.

 

 (2) Party A shall have the
right to use, or authorize any third party other than party B, to use the works of party A as mentioned in this contract in the
same manner as party B.

 

    4

     

    

 

 (3) Party B shall not engage
in the following behaviors without the written consent of party A:

 

1. To provide, sell, lend, lease, transfer
or provide part of the license, transfer or other means of use by the licensed software to a third party;

 

2. Permission for all or part of the translation
software, decomposition, reverse compile, disassemble, reverse engineering, or other attempts to everywhere from licensed software
source code, or on the basis of the licensed software written or developing derivative software, derivatives or other software;

 

3. Limit, destroy or bypass the encryption
attachments attached to the license software or other restrictive measures provided by party A to ensure proper use of the licensed
software;

 

4. To use the licensed software for
other purposes other than party B's internal use, including but not limited to providing data processing services,
application services, business sharing or other software sharing arrangements to third parties;

 

5. To remove, conceal or change the
marks of the licensed software copyright or trademark on the licensed software.

 

Article 11 The rights and obligations of
both parties

 

(1)
Party B shall not distort or tamper with the works of party A in the process of the original copy of party A's works.

 

(2)
Party B shall not use works similar to or similar to party A's works.

 

(3) Party B shall not use the works
or similar works of party A's as trademarks or apply for trademark registration to any trademark office in any country or
region.

 

Party B shall use the authorization of
party A in accordance with the law, party A's work may not be used for illegal, vulgar, obscene, and violation of social morality
of the service, product, packaging or decoration, as a result of party B's violation use caused by administrative organs, all liability
shall be borne by party B, if therefore cause the economic loss and other losses of party A, party B shall compensate party A for
the loss.

 

    5

     

    

 

(3)
Party B that apply party A's work to production, product packaging, product sales, advertising, products and advertising samples
which should be sent to party A for examination, can be implemented with written consent of party A.

 

(4)
Party B shall not publish party A's work in books or newspapers, party A using party A's work in place of business or marketing
used in the brochure should be with party A's written consent prior to implementation.

 

(5)
If party B tend to use party A's work performed, the venue is limited within the party B's premises, the performance may not be
made into video recordings of foreign sales, gifts, or as an adjunct to foreign tying, free.

 

(6)
Party B if tend to use party A's work and/or video recording products, these products can only be used in the premises of party
B, the products shall not foreign sales, gifts, or as an adjunct to foreign tying, free.

 

(7)
In the process of using party A's works, party B shall mark the words "authorized by party A".

 

(8)
Party A shall ensure that the works authorized to party B are protected by law.

 

(9)
If party B violates the obligations stipulated in this article, party A shall have the right to revoke the license and shall have
the right to hold party B liable for breach of contract.

 

Part Three Other license

 

Article 12 Other license

 

Upon the entry into
force of this contract, if party B still needs the license other than the aforementioned provisions, party A shall, in accordance
with the actual circumstances, give permission in writing.

 

    6

     

    

 

Part Four Liability for breach of contract

 

Article 13 If one party fails to perform
or incomplete performance of any obligations under this contract, the other party shall have the right to inform its correction,
it should correct within 10 days after notification .If the correction is overdue, the observant party has the right to terminate
the contract.

 

Article 14 If party B's fault causes infringement
or other economic losses to the third party, party B shall be liable for compensation. If party A is paid to the outside party,
party A may claim compensation from party B.

 

Article 15 After the termination of this
contract, party B shall immediately cease to use the registered trademark, franchise logo, work, trade secret, trade number and
other party A's authorized party b to use the project.

 

Article 16 After the termination of this
contract, in addition to reception of party A, party B shall according to party A all calls to replace the business license to
use the characteristic of the internal and external configuration design, decoration, decoration, color, layout, facilities, equipment,
or removal of a registered trademark, charter marks and other related to this contract the authorized the use of any identity,
works.

 

Part six The force majeure

 

Article 17 Any party due to force majeure
and its own no-fault fails to fulfill the obligation of this contract in whole or in part will not be regarded as a default, but
should take the necessary remedial measures under the conditions allow, in order to reduce the loss caused by force majeure. In
case of force majeure, the party shall inform the other party of the event in writing as soon as possible, and within a reasonable
time of appearance of event, submit an instruction about unable to perform or part cannot perform the contract and the reason for
the moratorium to other party.

 

Part seven Other conventions

 

Article 18 The invalidity of part of this
contract shall not affect the validity of other provisions and this contract.

 

    7

     

    

 

Article 19 All disputes arising out of
this contract shall be settled by the parties through negotiation. If no settlement can be reached through negotiation, either
party may bring a lawsuit to the local court of party a.

 

Article 20 This contract shall be made
in two originals, with one held by each party and have the same legal effect.The contract come into force upon signature or seal
of both parties.

 

(The following is the contract signing page,
no text)

 

Annex I: the registered trademark party
A enjoys exclusive right.

 

Appendix 2: works party A enjoys the copyright.

 

SIGNED
and SEALED by

For
and on behalf of

Party A: Chuangxiang Network Technology
(Shenzhen) Limited

Legal
Representative: Jiyin Li

 

SIGNED
and SEALED by

For
and on behalf of

Party B: Shenzhen Chuangxiang Network
Technology Limited

Legal
Representative: Jiyin Li

 

    8

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