Document:

Exhibit 10.5

 

Loan Agreement

 

This loan agreement (hereinafter
referred to as “this agreement”) is signed by the following two parties in Changzhou, Jiangsu Province on November
8, 2019:

 

		Party A:	Changzhou Jiekai New Energy Technology Co., Ltd. (hereinafter
referred to as the “lender”), a wholly foreign-owned company established and validly existing under the laws of
China, with its address at Room A507, Science and Technology Industry Building, Jiangsu Research Institute, Dalian University
of Technology, Changzhou Science and Education Town, No. 18, Changwu Central Road, Wujin District, Changzhou;

 

		Party B:	Jiangsu Baozhe Electric Technologies, Co., Ltd. (hereinafter
referred to as the “borrower”), a limited liability company established and validly existing under the laws of
China, with its address at Room A508, Science and Technology Industry Building, Jiangsu Research Institute, Dalian University
of Technology, Changzhou Science and Education Town, No. 18, Changwu Central Road, Wujin District, Changzhou.

 

Party A and Party
B are hereinafter separately referred to as the “party” and collectively referred to as the “parties”.

 

Whereas:

 

		1.	On the date of signing this agreement, the lender and the
borrower signed agreements such as the Exclusive Management Consulting and Technical Service Agreement, the Proxy Agreement,
the Exclusive Call Option Agreement and the Equity Pledge Agreement.

 

		2.	In order to ensure the performance of the above agreements, the lender agrees to provide loan support
to the borrower in accordance with this agreement.

 

     

     

    

 

Both parties hereby
reach the following terms and conditions through friendly negotiations in order to abide by this agreement:

 

		1.	Loan

 

		1.1	The lender agrees to provide the borrower with RMB loans of different amounts (hereinafter referred
to as the “loan”) in one or several installments according to the borrower’s needs at an annual interest rate
of 24%. The term of each loan shall be 20 years, which can be extended with the written consent of both parties. During the loan
term or the extended loan term, the borrower shall not repay the loan earlier without the written consent of the lender. In case
of any of the following circumstances, the borrower shall immediately repay the loan earlier upon the written request of the lender:

 

		1.1.1	Expiry of 30 days after the borrower receives the written notice on repayment from the lender;

 

		1.1.2	The borrower goes bankrupt or goes out of business;

 

		1.1.3	The borrower is engaged in criminal acts or is involved in criminal activities;

 

		1.1.4	Any third party claims more than RMB 2 million from the borrower; or

 

		1.1.5	The lender determines to exercise its exclusive right to purchase in accordance with the Exclusive
Call Option Agreement.

 

		1.2	The lender agrees to remit the loan to the account number designated by the borrower within 20
days after receiving the written notice from the borrower that the borrower needs to use the loan, provided that all the preconditions
specified in Article 2 of this agreement are met. The borrower shall issue the confirmation of receipt to the lender on the day
of receiving the above payment.

 

		2.	Preconditions for the loan

 

The lender
shall be obliged to provide the loan to the borrower in accordance with Clause 1.1 after all of the following conditions have been
met or abandoned in writing by the lender.

 

		2.1	The lender has received a notice of withdrawal duly signed by the borrower on time in accordance
with Clause 1.2.

 

		2.2	The representations and warranties made by the borrower under Clause 3.2 are true, complete, correct
and not misleading.

 

    2

     

    

 

		2.3	The borrower has not breached any of its commitments made in Article 4 of this agreement, and no
event has occurred or is expected to occur which may affect the performance of the obligations of the borrower under this agreement.

 

		3.	Representations and warranties

 

		3.1	Between the date of signing this agreement and the termination of this agreement, the lender makes
the following representations and guarantees to the borrower:

 

		3.1.1	The lender is a company established and validly existing under the laws of China;

 

		3.1.2	The lender has the right to sign and perform this agreement. The signing and performance of this
agreement by the lender comply with the provisions of the lender’s business scope and the articles of association or other
organizational documents of the lender, and the lender has obtained all necessary and appropriate approvals and authorizations
for the signing and performance of this agreement; and

 

		3.1.3	Once signed, this agreement constitutes a legal, valid and legally enforceable obligation of the
lender.

 

		3.2	Between the date of signing this agreement and the termination of this agreement, the borrower
makes the following representations and guarantees:

 

		3.2.1	The borrower is a company established and validly existing under the laws of China;

 

		3.2.2	The borrower has the right to sign and perform this agreement. The signing and performance of this
agreement by the lender comply with the provisions of the lender’s business scope and the articles of association or other
organizational documents of the lender, and the lender has obtained all necessary and appropriate approvals and authorizations
for the signing and performance of this agreement;

 

    3

     

    

 

		3.2.3	Once signed, this agreement constitutes a legal, valid and legally enforceable obligation of the
borrower; and

 

		3.2.4	There is no dispute, lawsuit, arbitration, administrative procedure or any other legal procedure
related to the borrower, and there is no potential dispute, lawsuit, arbitration, administrative procedure or any other legal procedure
related to the borrower either.

 

		4.	Commitments of the borrower

 

		4.1	The borrower irrevocably undertakes that:

 

		4.1.1	It shall, on the date of signing this agreement, sign with the lender an Exclusive Management
Consulting and Technical Service Agreement, according to which the lender will provide technical services and management consulting
services to the borrower as the exclusive service provider;

 

		4.1.2	The borrower shall, on the date of signing this agreement, cause its shareholders to sign with
the lender an Exclusive Call Option Agreement, according to which the shareholders of the borrower shall irrevocably grant
the lender an exclusive right to purchase the equity of the borrower held by such shareholders under the agreed conditions;

 

		4.1.3	The borrower shall, on the date of signing this agreement, cause its shareholders to sign with
the lender the Proxy Agreement, according to which the shareholders of the borrower shall irrevocably authorize all their
rights in the borrower to the lender or a legal person or natural person designated by the lender to exercise on behalf of them;

 

		4.1.4	The borrower shall, on the date of signing this agreement, cause its shareholders to sign with
the lender the Equity Pledge Agreement and complete the registration of equity pledge in time. According to the agreement,
the shareholders of the borrower agree to pledge all the equities in the borrower held by them to the lender;

 

		4.1.5	The borrower shall strictly abide by the provisions in this agreement, the Proxy Agreement,
the Equity Pledge Agreement, and the Exclusive Call Option Agreement, and perform the obligations under this agreement,
the Proxy Agreement, the Equity Pledge Agreement, and the Exclusive Call Option Agreement, and shall not conduct
any action/inaction that is sufficient to affect the validity and enforceability of such agreements;

 

    4

     

    

 

		4.1.6	The borrower shall, at the request of the lender (or its designated party), sign business cooperation
contracts/agreements with the lender (or its designated party) at any time, and ensure the strict performance of such contracts/agreements;

 

		4.1.7	The borrower shall, at the request of the lender, provide the lender with all information about
its operation and financial status;

 

		4.1.8	The borrower shall complete all government approvals, authorizations, licenses, registrations and
filings required by laws to engage in the businesses within the scope of its business license and to own its assets. The borrower
shall provide the lender with a full set of copies of industrial and commercial registration documents, business license copies
and articles of association of the borrower, and shall not change the original businesses of the borrower without the prior written
permission of the lender;

 

		4.1.9	The borrower shall immediately inform the lender of any lawsuit, arbitration or administrative
proceedings that have occurred or may occur in connection with the borrower;

 

		4.1.10	Without the prior written consent of the lender, the borrower shall not conduct any action and/or
inaction which may have any material influence on the assets, businesses and responsibilities of the borrower.

 

		5.	Liabilities for breach of the contract

 

		5.1	Where either party is in violation of the provision in this Agreement which results in inability
to perform the whole or part of this agreement, such party shall bear the liabilities for breach of the contract and make compensation
to the other party for the losses arising therefrom (including the litigation costs and lawyer’s fees arising therefrom);
where both parties are in violation of the contract, they shall bear their respective liabilities according to the actual situation.

 

    5

     

    

 

		5.2	Where the borrower fails to fulfill the repayment obligation within the deadline specified in this
agreement, it shall pay the overdue interest of 0.05% of the unpaid amount every day until the date when the borrower repays all
the loan principal, overdue interest and other funds.

 

		6.	Governing law and settlement of disputes

 

		6.1	The formulation, validity, interpretation, performance, modification and termination of this agreement
and the settlement of disputes shall be governed by the laws of China.

 

		6.2	Any dispute arising from the interpretation and performance of this agreement shall be settled
by both parties through friendly negotiations. Where any dispute is still not settled within 30 days after one party has sent a
written notice to the other party requesting settlement through negotiations, either party may submit the dispute to China International
Economic and Trade Arbitration Commission for arbitration in accordance with its prevailing arbitration rules. The arbitration
shall be held in Changzhou and the language shall be Chinese. The arbitration award shall be final and binding on both parties.

 

		6.3	To the extent permitted by laws, each party agrees and authorizes the above arbitration institution
to make an award of compensation with Party C’s shares or assets, to issue an injunction (if necessary for business or compulsory
transfer of assets) or to make a judgment to liquidate Party C.

 

		6.4	To the extent permitted by laws, during the period to establish the arbitral tribunal or where
appropriate, the parties agree and authorize the competent court to issue interim measures to support the conduct of the arbitration.

 

		6.5	In case of any dispute arising from the interpretation and performance of this agreement or when
any dispute is under arbitration, both parties shall continue to exercise their other rights and perform their other obligations
under this agreement except for the matters in dispute.

 

		7.	Others

 

		7.1	This agreement shall come into force from the date of signing by both parties and shall be valid
until both parties have fulfilled their respective obligations under this agreement.

 

    6

     

    

 

		7.2	This agreement is made in two sets, and the lender and the borrower shall hold one set respectively,
which shall have the same legal effect.

 

		7.3	Both parties to this agreement may amend and supplement this agreement through a written agreement.
The amendment agreement and/or supplementary agreement of both parties to this agreement shall be an integral part of this agreement
and shall have the same legal effect as this agreement.

 

		7.4	Where one or more provisions of this agreement are held to be invalid, illegal or unenforceable
in any respect under any law or regulation, the validity, legality or enforceability of the remaining provisions of this agreement
shall not be affected or impaired in any way. Both parties shall carry out negotiations in good faith to replace those invalid,
illegal or unenforceable provisions with provisions permitted by law and expected by both parties to be effective to the maximum
extent, and the economic effects of such effective provisions shall be as similar as possible to those of the invalid, illegal
or unenforceable provisions.

 

		7.5	Any attachment (if any) to this agreement shall be an integral part of this agreement and shall
have the same legal effect as this agreement.

 

[The rest
of this page is intentionally left blank]

 

    7

     

    

 

In witness whereof, the
parties have caused their authorized representatives to sign this Loan Agreement on the date written above first, which
shall come into force immediately and be abided by.

 

		Party A:	Changzhou Jiekai New Energy Technology Co., Ltd. (Official
Seal)

 

	Signature:	 	  
	Name:	 
	Position:	 

 

		Party B:	Jiangsu Baozhe Electric Technologies Co., Ltd. (Official
Seal)

 

	Signature:	 	 
	Name:	 
	Position:	 

 

 

8Exhibit
10.6

 

Form
of Spousal Consent Letter

 

I,
the undersigned,                                  (ID
Card No.:                                        ),
am the legal spouse of                                 (ID
Card No.:                                       
), hereinafter referred to as “my spouse”). I hereby unconditionally and irrevocably agree that my spouse signs
the following documents (hereinafter referred to as the “transaction documents”) on November 8, 2019, and agree to
dispose of the equity in Jiangsu Baozhe Electric Technologies Co., Ltd. held by my spouse and registered in his/her name in accordance
with the provisions in the following documents:

 

		(1)	The
                                         Equity Pledge Agreement;

 

		(2)	The
                                         Exclusive Call Option Agreement;

 

		(3)	The
                                         Proxy Agreement

 

I
promise not to make any claim on the equity in Jiangsu Baozhe Electric Technologies Co., Ltd. held by my spouse. I further confirm
that my spouse’s performance of the transaction documents and the further modification or termination of the transaction
documents do not require my further authorization or consent.

 

I
promise to sign all necessary documents and take all necessary actions to ensure the proper performance of the transaction documents
(as amended from time to time).

 

I
agree and promise that if, for any reason, I acquire any equity in Jiangsu Baozhe Electric Technologies Co., Ltd. held by my spouse,
I shall be bound by the transaction documents (as amended from time to time) and comply with my obligations as a shareholder of
Jiangsu Baozhe Electric Technologies Co., Ltd. under the transaction documents (as amended from time to time), and for this purpose,
once requested by Jiangsu Baozhe Electric Technologies Co., Ltd., I shall sign a series of written documents in any form and content
substantially the same as those of the transaction documents (as amended from time to time).

 

	 	
	 	 
	 	 
	 	Date:                             , 2019

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}]]