Document:

Exhibit 4.15

 

	(GF-2021-0201)	Contract No.: 20210625

 

Construction Agreement

 

(☐ Original ☐ Copy)

 

 

 

 

 

Supervised by Ministry of Housing and Urban-Rural
Development of the People’s Republic of China

 

State Administration for Industry and Commerce

 

     

     

    

 

Part I Contract Agreement

 

Client (Full Name): Jiangxi Universe Pharmaceuticals
Co., Ltd.

 

Contractor (Full Name): Jiangxi Chenyuan Construction
Project Co., Ltd.

 

In accordance with the Contract Law of the
People’s Republic of China, the Construction Law of the People’s Republic of China and the other relevant laws
and regulations of China, the parties hereto have entered into this agreement with regard to the construction of the project for Workshops
A, B, C and D and Office Building of Jiangxi Universe Pharmaceuticals Co., Ltd. under the principle of equality, voluntariness, fairness
and good faith as incarnated by the terms and conditions set out below:

 

I. Project Overview

 

1. Project Name: Workshops A, B, C and D and
Office Building of Jiangxi Universe Pharmaceuticals Co., Ltd.

 

2. Project Location: No. 265, Jingjiu Avenue,
Jinggangshan Economic and Technological Development Zone, Ji’an County

 

3. Project Initiation Approval Document No.: J.F.G.H.Z.
[2021] 38

 

4. Source of Funds: Self-raised by the enterprise

 

5. Project Content: All the work content of
relevant disciplines covered by the bill of quantities and construction drawings of Workshops A, B, C and D and Office Building of Jiangxi
Universe Pharmaceuticals Co., Ltd.

 

For a group project, a Schedule of the Construction
Projects Undertaken by the Contractor (Annex 1) shall be enclosed herewith.

 

6. Scope of Contracting for the Project:

 

All the work content of relevant disciplines
covered by the bill of quantities and construction drawings

 

II. Project Duration under Contract

 

Planned commencement date: August 8, 2021.
(Subject to the Commencement Order)

 

Planned completion date: August 7, 2023.
(Subject to the actual postponed construction period)

 

Total number of calendar days of project duration:
730 calendar days. In case of any inconsistency between the total number of calendar days of project duration and the number of days calculated
on the basis of the above planned commencement/completion date, the former shall prevail.

 

Note: The construction unit shall complete the
project with quality and quantity guaranteed within the project duration under the premise of ensuring construction safety.

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III. Quality Standard

 

The quality of the project shall meet the Pass
standard.

 

VI. Contract Price and Form of Contract Price

 

1. The contract price is:

 

(In words): SAY ONE HUNDRED AND SIXTY-FIVE
MILLION YUAN ONLY (¥ 165,000,000.00)

 

Including:

 

(1) Costs of safe and civilized construction:

 

(In words) SAY TWO MILLION YUAN ONLY (¥
2,000,000.00);

 

(2) Provisional estimate amount of materials and
engineering equipment:

 

(In words) ____________ (¥ _________);

 

(3) Provisional estimate amount of professional
projects:

 

(In words)  ____________(¥ _________);

 

(4) Provisional amount:

 

(In words)  ____________(¥ _________);

 

2. Form of contract price: Fixed comprehensive
unit price contract.

 

The actual settlement shall be made if the
final settlement audited price is within 180 million yuan. If the amount exceeds 180 million yuan, the settlement shall be made at 180
million yuan.

 

V. Project Manager

 

Contractor Project Manager: Yang Shucheng (Registration
Certificate No.: Gan 236141548064)

 

VI. Composition of Contract Documents

 

This Agreement, together with the following documents,
shall constitute the contract documents:

 

(1) Letter of Acceptance (if any);

 

(2) Letter of Tender and its appendices (if any);

 

(3) Special Conditions of Contract and attachments;

 

(4) General Conditions of Contract;

 

(5) Technical standards and requirements;

 

(6) Drawings;

 

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(7) The priced bill of quantities or budget;

 

(8) Other contract documents.

 

The documents related to the contract formed in
the process of the conclusion and performance of the contract shall form an integral part of the contract documents.

 

The above-mentioned contract documents include
the supplements and amendments made by the parties hereto to the contract documents. If the documents fall into the same category, the
latest signed ones shall prevail. Special Conditions of Contract and the attachments shall be signed or sealed by the parties to the contract.

 

VII. Undertakings

 

1. The Client undertakes to apply and obtain all
project approvals according to the laws and regulations, raise funds for project construction and pay contract price according to the
schedule and method agreed herein.

 

2. The Contractor undertakes to organize and complete
the construction of the project in accordance with the legal provisions and contract provisions, to ensure the quality and safety of the
project, not to transfer the project or subcontract it to/with others illegally, and to undertake the corresponding project maintenance
responsibilities during the defect liability period and warranty period.

 

3. If the Client and the Contractor sign the contract
through invitation of bid, both parties understand and undertake that they will not sign any other agreement on the same project that
deviates from the substantial content of the contract.

 

4. The Contractor shall use the money received
exclusively for the project of Workshops A, B, C and D and Office Building of Jiangxi Universe Pharmaceuticals Co., Ltd.

 

VIII. Meaning of Terms

 

Terms in this Agreement have the same meanings
as those given in Part II General Conditions of Contract.

 

IX. Time of Signing

 

The Contract is signed on June 25, 2021.

 

X. Place of Signing

 

The Contract is signed in Jiangxi Universe Pharmaceuticals
Co., Ltd.

 

XI. Supplementary Agreement

 

For matters not covered in the Contract, the parties
hereto shall enter into a supplementary agreement separately, which shall form an integral part of the Contract.

 

XII. Effectiveness of Contract

 

The Contract shall come into force after being
signed and sealed by the legal representatives of both parties.

 

XIII. Counterparts of Contract

 

The Contract shall be made in eight copies,
all of which shall have the same legal effect, with the Client holding four copies and the Contractor holding eleven copies.

 

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No text on this page

 

	
    Client: (company chop)

    

    [seal: Jiangxi Universe Pharmaceuticals Co., Ltd.]
	 	
    Contractor: (company chop)

    

    [seal: Jiangxi Chenyuan Construction Project Co.,
    Ltd.]

	 	 	 
	Legal Representative or Authorized Agent: (Signature)	 	Legal Representative or Authorized Agent: (Signature)
	 	 	 
	Organizational Code:	 	Organization Code:
	Address: No. 265, Jingjiu Avenue, Jinggangshan Economic and Technological Development Zone, Ji’an County	 	Address: Room 2204, Block C, China Resources Building, No. 5 Qinjiang Road, Zhanggong District, Ganzhou City
	Legal Representative: Lai Gang	 	Legal Representative: Li Wenhui
	Authorized Agent: Xiao Yun	 	Authorized Agent: Xie Yuhui
	Tel:	 	Tel: 0797-8231111
	Bank of Account: 	 	Bank of Account: 
	Account No.:	 	Account No.: 
	 	 	 
	Operator:	 	Operator:
	MM/DD/YYYY	 	MM/DD/YYYY

 

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Part II General Conditions of Contract

 

1. General Stipulations

 

1.1 Definitions

 

1.1.1 Contract

 

1.1.1.10 Other contract documents include: Supplementary
agreement to the Construction Contract, minutes of engineering meeting, design changes, work liaison sheet, drawing review records, etc.

 

1.1.2 Contract parties and other related parties

 

1.1.2.4 Supervisor:

 

Name: Jiangxi Zhongtian Construction Supervision
Consulting Co., Ltd.

 

Category and grade of qualification: Grade
A of housing construction;

 

Tel:    /              ;

 

Email:    /              ;

 

Correspondence address:    /              .

 

1.1.2.5 Designer:

 

Name: Jiujiang Construction Designing Institute;

 

Category and grade of qualification: Grade
A of architectural engineering design;

 

Tel: 0797-2195358;

 

Correspondence address: Zhongting Forest Mansion,
No. 16 Zanxian Road, Ganzhou City, Jiangxi Province.

 

1.2 Engineering and Equipment

 

1.2.1 Other sites as part of the construction
site shall include: construction site provided by the Client in accordance with the General Conditions.

 

1.2.3 Permanent land occupation shall include:
determined according to the design drawings.

 

1.2.4 Temporary land occupation shall include:
determined by both parties during the performance of the Contract.

 

1.3 Applicable Laws

 

Other normative documents applicable to the Contract:
Construction Law of the People’s Republic of China, Contract Law of the People’s Republic of China and other relevant
current laws and administrative regulations.

 

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1.4 Standards and specifications

 

1.4.1 Standards and specifications applicable
to the project include: standards and specifications specified in the design document, current relevant codes for construction, specifications
and project acceptance standards, current relevant atlas and current local standards of Jiangxi Province.

 

1.4.2 Name of foreign standards and specifications
provided by the Client:   /          ;

 

Number of copies of foreign standards and specifications
provided by the Client:   /          ;

 

Name of foreign standards and specifications
provided by the Client:   /          .

 

1.4.3 Special requirements of the Client for technical
standards and functional requirements of the project: None

 

1.5 Priority of Contract Documents

 

The contract documents are composed and prioritized
as per: Article 1.5 of General Conditions of Contract.

 

1.6 Drawings and Contractor’s Documents

 

1.6.1 Period for the provision of drawings by
the Client to the Contractor: 14 days prior to the commencement date;

 

1.6.2 Quantity of drawings provided by the Client
to the Contractor: One set;

 

1.6.3 Content of drawings to be provided by the
Client to the Contractor: All design drawings required for construction.

 

1.6.4 Contractor’s documents

 

Documents to be provided by the Contractor include:
Construction management plan, safe work method statement, construction schedule, etc.;

 

Quantity of documents provided by the Contractor:
Four copies;

 

Form of documents provided by the Contractor:
Paper documents;

 

Time limit for the Client to approve the Contractor’s
documents: /

 

1.6.5 Preparation of site drawings

 

Provisions on the preparation of site drawings:
Article 1.6 of General Conditions of Contract.

 

1.7 Contacts

 

1.7.1 The Client and the Contractor shall serve
to the other party within 2 days the written correspondence such as notice of approval, certifications, certificates, instructions,
directions, requirements, requests, consents, opinions, determinations and decisions relating to the Contract.

 

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1.7.2 Place of receipt of documents by the Client:
Project Department of the Client at the project location;

 

Recipient designated by the Client: Representative
of the Client.

 

Place of receipt of documents by the Contractor:
Project Department of the Contractor at the project location;

 

Recipient designated by the Contractor: Constructor
or other project leader authorized by the Contractor;

 

Place of receipt of documents by the Supervisor:
Project Department of the Supervisor at the project location;

 

Recipient designated by the Supervisor: Chief
Supervision Engineer or other persons in charge authorized by the Supervisor;

 

1.10 Traffic and Transportation

 

1.10.1 Right of access to the site

 

Provisions on the right of access to the site:
As per the General Conditions.

 

1.10.3 On-site traffic

 

Provisions on the boundary of off-site traffic
and on-site traffic: Determined according to the construction site.

 

Provisions on the Client’s provision of
free on-site roads and traffic facilities to the Contractor to meet the construction needs of the project: The Contractor shall build
and maintain the roads and traffic facilities on its own according to the construction progress and method statements and bear relevant
expenses. If the Contractor uses the on-site roads provided by the Client to meet the construction needs of the project, and the said
roads or traffic facilities are damaged due to the Contractor, the Contractor shall repair and bear all the costs as required by the Client.

 

1.10.4 Transportation of oversized parts and
overweight parts

 

Temporary retrofitting fee of roads and bridges required for the transportation of oversized or overweight parts
and other related costs shall be borne by the Contractor.

 

1.11 Intellectual Property Rights

 

1.11.1 Provisions on the ownership of the copyright
of the drawings provided by the Client to the Contractor, the technical specifications prepared by the Client or commissioned by the Client
for the implementation of the project and the documents reflecting the Client’s contract requirements or of other similar properties:
Article 1.11 of General Conditions of Contract.

 

Requirements for restrictions on the use of the
aforesaid documents provided by the Client: Drawings, technical data, technical parameters, etc. of the project shall not be disclosed
to the public without permission.

 

1.11.2 Provisions on the ownership of the copyright
of the documents prepared by the Contractor for the implementation of the project: As per the General Conditions.

 

Requirements for restrictions on the use of the
aforesaid documents provided by the Contractor: As per the General Conditions.

 

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1.11.4 Provisions on the way to bear the royalties
of patents, know-how and technical secrets adopted by the Contractor in the course of construction: As per the General Conditions.

 

1.13 Correction of Errors in the Bill of Quantities

 

Whether to adjust the contract price when there
is an error in the bill of quantities: The adjustment of the error in the preparation of the bill of quantities shall be made in accordance
with the relevant provisions of the Code of valuation with bill quantity of construction works (GB 50500-2013) and the calculation
specifications for relevant discipline engineering and the Measures for the Management of Construction Project Pricing in Jiangxi Province
in 2010.

 

Range of deviations in the project quantity for
which adjustment of the contract price is allowed: /

 

2. The Client

 

2.2 Representative of the Client

 

Representative of the Client:

 

Name: Xiao Yun;

 

ID No.: 362101195902082219;

 

Position: Chief Engineer;

 

Tel: 18270770652;

 

Email:             ;

 

Address: Jingjiu Avenue, Jinggangshan Economic
and Technological Development Zone, Ji’an County.

 

The scope of authorization of the Client to the
representative of the Client is as follows: To supervise and urge the supervision engineer to exercise his/her authority, coordinate
all aspects of the construction site, coordinate the project quality, progress and problems existing in safe and civilized construction,
approve the project quantity outside the contract, and review the project progress report.

 

2.4 Provision of Construction Site, Construction
Conditions and Basic Information

 

2.4.1 Provision of construction site

 

Requirements for the deadline for the Client to
hand over the construction site: Seven days before the commencement.

 

2.4.2 Provision of construction conditions

 

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The Client shall be responsible for providing
the conditions required for construction, including: Completion of all demolition and relocation within the site, and meeting the construction
needs such as water, electricity on site.

 

2.5 Proof of Source of Funds and Payment Guarantee

 

Requirements for the period of time for the Client
to provide proof of the source of funds: /.

 

Whether to provide payment guarantee: /.

 

Form of payment guarantee provided by the Client:
/.

 

3. The Contractor

 

3.1 General Obligations of the Contractor

 

(5) Content of as-built materials submitted by
the Contractor: Complete set of as-built drawings and electronic documents of as-built drawings.

 

Number of sets of as-built materials to be submitted
by the Contractor: Two sets.

 

Cost of as-built materials submitted by the Contractor:
Borne by the Contractor.

 

Handover time of as-built materials submitted
by the Contractor: Within 30 days after the completion and acceptance of the project.

 

Form of as-built materials submitted by the Contractor:
Written and electronic documents.

 

(6) Other obligations of the Contractor:

 

3.2 Project Manager

 

3.2.1 Project manager:

 

Name: Yang Shucheng;

 

ID No.: 360781198601180014;

 

Constructor Qualification Level: Level 2;

 

Constructor Registration Certificate No.: Gan
236141548064;

 

Constructor Practicing Seal No.: Gan 236141548064;

 

Production Safety Examination Certificate No.:
G.J.A. B (2014) 0061841;

 

Tel: 18979743087;

 

The scope of authority of the Contractor to the
Project Manager is as follows: To deal with all related affairs of the project.

 

Time requirement for the Project Manager at the
construction site every month: Not less than 20 days.

 

Liability for breach of contract if the Contractor
fails to submit the labor contract and the proof of social insurance payment for the Project Manager: Ordered to submit the labor contract
and make up the social insurance payment within a certain period of time.

 

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Liability for breach of contract if the Project
Manager leaves the construction site without approval: A penalty of 100 yuan for each day of absence.

 

3.2.3 Liability for breach of contract if the
Contractor replaces the Project Manager without authorization: If the original Project Manager can continue to perform his/her duties,
the Supervisor shall order the Contractor to cancel the replacement decision, and the Contractor shall bear liquidated damages of 10,000
yuan. If the original Project Manager is objectively unable to continue to perform his/her duties, the Client shall have the right to
request an audit to confirm the Project Manager replaced by the Contractor, and the Contractor shall bear liquidated damages of 10,000
yuan.

 

3.2.4 Liability for breach of contract if the
Contractor refuses to replace the Project Manager without good reasons: The Supervisor shall notify the Project Manager in writing
to stop work on the 29th day after the Contractor is notified of the second replacement and shall direct that the construction be temporarily
suspended. The suspension of construction caused by the Contractor shall be handled according to Article 7.8.2 of the General Conditions.

 

3.3 Contractor’s Personnel

 

3.3.1 Time limit for the Contractor to submit
the arrangement report to the project management agency and the construction site management personnel: As per the General Conditions.

 

3.3.3 Liability for breach of contract if the
Contractor refuses to replace the main construction management personnel without good reasons: The supervisor shall issue another notice
requesting the Contractor to replace the main construction management personnel within 3 days and assume the liability for breach of contract
in the amount of 5,000 yuan. If the Contractor still refuses to replace within 3 days after receiving the second notice, the Supervisor
shall notify the main construction management personnel in writing to stop the work and instruct the temporary suspension of construction.
The suspension of construction caused by the Contractor shall be handled according to Article 7.8.2 of the General Conditions.

 

3.3.4 Approval requirements for the main construction
management personnel of the Contractor to leave the construction site: Such personnel can leave the job only after prior report to
the Supervisor for approval and consent of the Client.

 

3.3.5 Liability for breach of contract if the
Contractor replaces the main construction management personnel without authorization: If the original management personnel can continue
to perform his/her duties, the Supervisor shall order the Contractor to cancel the replacement decision, and the Contractor shall bear
liquidated damages of 5,000 yuan. If the original management personnel is objectively unable to continue to perform his/her duties, the
Client shall have the right to request an audit to confirm the management personnel replaced by the Contractor, and the Contractor shall
bear liquidated damages of 10,000 yuan. The additional cost and delayed construction period as a result shall be borne by the Contractor.

 

Liability for breach of contract if the main management
personnel of the Contractor leave the construction site without approval: A penalty of 500 yuan for each day of absence.

 

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3.5 Subcontracting

 

3.5.1 General provisions of subcontracting

 

Subcontracting is prohibited for the following
works: /.

 

Scope of main structure, critical work: /.

 

3.5.2 Determination of subcontracting

 

Subcontracting is allowed for the discipline works:
/.

 

Other provisions concerning subcontracting: /.

 

3.5.4 Subcontract price

 

Provisions on payment of subcontract price:

 

3.6 Care of Project; Protection of Finished/Semi-finished
Products

 

Starting time for the Contractor to take care
of the project, materials and equipment related to the project: As per Article 3. 5. 6 of the General Conditions of Contract.

 

3.7 Performance Guarantee

 

Whether the Contractor provides performance guarantee:
Yes.

 

The form, amount and duration of performance guarantee
provided by the Contractor: 1. The performance guarantee for the project shall be 5% of the contract price, and shall be transferred
in full from the basic account of the bidder to the account designated by the Employer. 50% of the performance guarantee will be returned
without interest upon acceptance of 50% of the contract quantity, and the remaining 50% will be returned without interest after the completion
and acceptance of the project.

 

4. The Supervisor

 

4.1 General Provisions of the Supervisor

 

Supervision content of the Supervisor: See
the Supervision Contract.

 

Supervisory authority t of the Supervisor: See
the Supervision Contract.

 

Provisions on the provision of office and living
space of the Supervisor at the construction site and the cost to be borne: See the Supervision Contract.

 

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4.2 Supervisory Personnel

 

Chief Supervision Engineer:

 

Other provisions concerning the Supervisor: /.

 

Chief Supervision Engineer:

 

Name: Che Haokun;

 

Supervision Engineer License No.: 44014606;

 

Tel: 15112673372;

 

Email:  /         ;

 

Correspondence Address: /         
;

 

Other provisions concerning the Supervisor: /         
 .

 

4.4 Consensus or Decision

 

In the event that the Client and the Contractor
cannot reach an agreement through consultation, the Client authorizes the Supervisor to determine the following matters: /.

 

5. Project Quality

 

5.1 Quality Requirements

 

5.1.1 Special quality standards and requirements:
/.

 

Provisions on engineering awards: _____.

 

5.3 Inspection of Concealed Works

 

5.3.2 Provisions on the period for the Contractor
to notify the Supervisor in advance of the inspection of concealed works: As per the General Conditions.

 

In case of inability to carry out the inspection
on time, the Supervisor shall submit a written request for extension in advance. The maximum extension period shall not exceed: 48
hours.

 

6. Safe and Civilized Construction and Environmental
Protection

 

6.1 Safe and Civilized Construction

 

6.1.1 Provisions on the target of project production
safety and the corresponding matters: As per the relevant specifications.

 

6.1.4 Special provisions on security: As per
the General Conditions.

 

Provisions on the preparation of the construction
site public security management plan: Provide the construction site security management plan before the commencement.

 

6.1.5 Civilized construction

 

Requirements of the parties hereto for civilized
construction: As per the relevant national specifications.

 

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6.1.6 Provisions on the payment proportion and
payment period of safety and civilized construction fee: 60% of the project advance payment for safety protection and civilized construction
measures in the contract price shall be paid to the Contractor within 28 days after the contract is formally signed. When the payment
reaches 30%, the advance payment will be offset against the construction cost.

 

7. Project Duration and Progress

 

7.1 Construction Management Plan

 

7.1.1 Other elements to be included in the construction
management plan agreed by the parties hereto: As per the General Conditions.

 

7.1.2 Submission and modification of the construction
management plan

 

Provisions on the time limit for the contractor
to submit the detailed construction management plan: After signing the contract.

 

The time limit for the Client and the Supervisor
to confirm or propose modification suggestions after receiving the detailed construction management plan: Within seven days after receipt.

 

7.2 Construction Schedule

 

7.2.2 Revision of construction schedule

 

The time limit for the Client and the Supervisor
to confirm or propose modification suggestions after receiving the revised construction schedule: Within seven days after receipt.

 

7.3 Commencement of Construction

 

7.3.1 Preparation for commencement

 

The time limit for the Contractor to submit the
project commencement report: After the contract is signed and before the commencement of construction. Other preparatory work and
time limit to be completed by the Client: As per the General Conditions. Other preparatory work and time limit to be completed
by the Contractor: As per the General Conditions.

 

7.3.2 Commencement notice

 

If the Supervisor fails to issue the commencement
notice within 4 days as of the planned commencement date due to reasons attributable to the Client, the Contractor shall have the right
to request price adjustment or rescind the contract.

 

7.4 Measurement and Setting-Out

 

7.4.1 The time limit for the Client to provide
the Contractor with measurement datum mark, datum line, benchmark point and other written data through the Supervisor: After the contract
is signed and before the commencement of construction.

 

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7.5 Delay in Project Duration

 

7.5.1 Delay due to the Client

 

In other cases where the project duration is delayed
due to the Client: As per Article 7.5 of the General Conditions.

 

7.5.2 Delay due to the Contractor

 

The calculation of liquidated damages for late
completion due to the delay caused by the Contractor is as follows: Where the delay is caused by the Contractor (except force majeure)
and the schedule cannot be postponed, the increase in cost of catch-up measures as a result shall be borne by the Contractor; meanwhile,
the Contractor shall bear the liability for breach of contract and pay the Client liquidated damages of 500 yuan for each day the product
duration is delayed. The Client may deduct such liquidated damages from any amount payable to the Contractor and the payment of such liquidated
damages shall not relieve the Contractor of its obligation to complete the project and other obligations hereunder.

 

The maximum amount of liquidated damages for late
completion due to the delay caused by the Contractor: 2% of the contract price.

 

7.6 Adverse Physical Conditions

 

Other circumstances of adverse physical conditions
and relevant provisions: As per the General Conditions.

 

7.7 Extraordinarily Vicious Weather Conditions

 

The Client and the Contractor agree that the following
conditions shall be deemed as extraordinarily vicious weather conditions:

 

(1) Rainy days with daily rainfall greater
than 50mm for more than one day.

 

(2) Typhoon of Force 6 or above;

 

(3) Hail and heavy snow that cause damage to
the project, with daily snowfall of more than 10mm.

 

In the event of the above conditions, the Contractor
shall provide written certification materials issued by the meteorological department to the Client for determination within 10 days.

 

7.9. Reward for Early Completion

 

7.9.2 Reward for early completion: No reward
for early completion of this project.

 

8. Materials and Equipment

 

8.4 Custody and Use of Materials and Engineering
Equipment

 

8.4.1 Assumption of custody cost of the materials
and equipment supplied by the Client: As per the General Conditions.

 

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8.6 Samples

 

8.6.1 Sample submission and storage

 

Requirements for the type, name, specification
and quantity of samples of materials or construction equipment to be submitted by the Contractor: Determined in accordance with relevant
regulations.

 

8.8 Construction Equipment and Temporary Facilities

 

8.8.1 Construction equipment and temporary facilities
provided by the Contractor

 

Provisions on the assumption of expenses for the
construction of temporary facilities: As per the General Conditions.

 

9. Tests and Inspections

 

9.1 Test Equipment and Personnel

 

9.1.2 Test equipment

 

Test site to be configured at the construction
site: As per the General Conditions.

 

Test equipment to be equipped at the construction
site: As per the General Conditions.

 

Other test conditions required at the construction
site: As per the General Conditions.

 

9.4. On-site Process Test

 

Relevant provisions on the on-site process test:
As per the General Conditions.

 

10. Change

 

10.1 Scope of Change

 

Provisions on the scope of change: As per the
General Conditions.

 

10.4 Change of Estimate Price

 

10.4.1 Principle of change of estimate price

 

Provisions on the change of estimate price: Compared
with the average value of published information price in the urban area during the construction duration of steel bar and cement materials,
if the fluctuation range is within ±5% (including ±5%), the unit price will not be adjusted, and the risks and benefits
will be borne by the Contractor; if the fluctuation range is beyond ±5% (excluding ±5%), the part exceeding ±5% (excluding
±5%) shall be adjusted (the price difference of materials adjusted shall not take into account any other costs except for taxes),
and shall be examined and paid in a lump sum when the project is settled.

 

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10.5 Rationalization Proposals of the Contractor

 

The time limit for the Supervisor to review the
Contractor’s rationalization proposals: /.

 

The time limit for the Client to approve the Contractor’s
rationalization proposals: /.

 

The method and amount of the reward for the Contractor’s
rationalization proposals that reduces the contract price or increases the economic benefit of the project: /.

 

10.7 Provisional Estimate

 

Details of the provisional estimate of materials
and engineering equipment are shown in Annex 11: Schedule of Provisional Estimate Price.

 

10.7.1 Provisional estimate items subject to tender
by law

 

The confirmation and approval of provisional estimate
items subject to tender by law shall be determined in the / way.

 

10.7.2 Provisional estimate items not subject
to tender by law

 

The confirmation and approval of provisional estimate
items not subject to tender by law shall be determined in the / way.

 

The third way: The provisional estimate items
directly implemented by the Contractor

 

Provisions on the provisional estimate items directly
implemented by the Contractor: /.

 

10.8 Provisional Amount

 

Provisions of the parties hereto on the use of
provisional amount: .

 

11. Price Adjustments

 

11.1 Adjustments Caused by Market Price Fluctuations

 

Provisions on whether to adjust the contract price
due to market price fluctuations: /.

 

Adjustment of the contract price due to market
price fluctuations is carried out by using the / way:

 

The first way: Price adjustment using price indices.

 

Provisions on the weight of each adjustable factor,
constant value and variable value, and the basic price index and its source: _/;

 

The second way: Price adjustment using cost information.

 

(2) Provisions on benchmark price: /.

 

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Special conditions of Contract 1If the unit
price of materials specified by the Contractor in the priced bill of quantities or budget is lower than the benchmark price: When the
unit price of materials increases by more than /% based on the benchmark price during the performance of the Special conditions
of Contract, or when the unit price of materials decreases by more than /% based on the priced bill of quantities or budget, the
excess shall be adjusted accordingly.

 

2If the unit price of materials specified
by the Contractor in the priced bill of quantities or budget is greater than the benchmark price: When the unit price of materials decreases
by more than /% based on the benchmark price during the performance of the Special conditions of Contract, or when the unit price
of materials increases by more than /% based on the priced bill of quantities or budget, the excess shall be adjusted accordingly.

 

3If the unit price of materials specified
by the Contractor in the priced bill of quantities or budget is equal to the benchmark price: When the unit price of materials fluctuates
by more than ±/% based on the benchmark price during the performance of the Special conditions of Contract, the excess shall
be adjusted accordingly.

 

The third way: /.

 

12. Contract Price, Measurement and Payment

 

12.1 Form of Contract Price

 

1. Unit price contract.

 

Risk range included in the comprehensive unit
price: /.

 

Calculation method of risk cost: /.

 

Adjustment method of contract price beyond the
risk range: Compared with the average value of published information price in the urban area during the construction duration of steel
bar and cement materials, if the fluctuation range is within ±5% (including ±5%), the unit price will not be adjusted, and
the risks and benefits will be borne by the Contractor; if the fluctuation range is beyond ±5% (excluding ±5%), the part
exceeding ±5% (excluding ±5%) shall be adjusted (the price difference of materials adjusted shall not take into account
any other costs except for taxes), and shall be examined and paid in a lump sum when the project is settled.

 

2. Lump sum contract.

 

Risk range included in the lump sum price: /.

 

Calculation method of risk cost: /.

 

Adjustment method of contract price beyond the
risk range: /.

 

    18

     

    

 

3. Other price methods:

 

12.2 Advance Payment

 

12.2.1 Payment of advance payment

 

Payment proportion or amount of advance payment:
Within 28 days after the contract is formally signed, 40% of the contract price for safe and civilized construction shall be paid to
the Contractor in advance for the project.

 

Payment term of advance payment: Within 28
days after the contract is signed.

 

12.2.2 Guarantee of advance payment

 

The time limit for the Contractor to submit guarantee
of advance payment: _/.

 

The form of guarantee of advance payment:_/.

 

12.3 Measurement

 

12.3.1 Principle of measurement

 

Quantity calculation rules: The actual completed
quantity of work shall be calculated based on the relevant rules for quantity calculation according to the construction drawings, design
change notice and engineering visa, etc.

 

12.3.2 Measurement period

 

Provisions on the measurement period: /.

 

12.3.3 Measurement of unit price contract

 

Provisions on the measurement of unit price contract:
/.

 

12.3.4 Measurement of lump sum contract

 

Provisions on the measurement of lump sum contract:
/.

 

12.3.5 If the lump sum contract uses the payment
breakdown table to measure payment, whether the provisions in 12.3.4 [Measurement of lump sum contract] are applicable for measurement:
/.

 

12.3.6 Measurement of other forms of price contracts

 

Measurement methods and procedures for other forms
of price contracts: /.

 

12.4 Progress Payment of Project

 

12.4.1 Payment period

 

Provisions on the payment period: Payment shall
be made at 80% of the completed quantity of work every month. 85% of the project payment shall be paid off upon completion of the project,
95% of the project payment shall be paid off upon completion settlement, and the remaining 5% settlement price shall be used as the
project quality bond. The quality bond will be returned in a lump sum without interest one year after the completion and acceptance of
the project without quality problems.

 

    19

     

    

 

12.4.2 Preparation of progress payment request
form

 

Provisions on the preparation of progress payment
request form: Prepared according to the image progress.

 

12.4.3 Submission of progress payment request
form

 

(1) Provisions on the submission of progress payment
request form for unit price contract: Submitted made according to the image progress.

 

(2) Provisions on the submission of progress payment
request form for lump sum contract: /.

 

(3) Provisions on the submission of progress payment
request form for other forms of price contracts: ______.

 

12.4.4 Review and payment of progress payment

 

(1) The time limit for the Supervisor to review
and submit to the Client: 5 working days.

 

The time limit for the Client to complete the
approval and issue the progress payment certificate: 5 working days.

 

(2) The time limit for the Client to pay the progress
payment: /.

 

Calculation of liquidated damages for late payment
of progress payment by the Client: /.

 

12.4.6 Preparation of payment breakdown table

 

2. Preparation and approval of the payment breakdown
table for lump sum contract: /.

 

3. Preparation and approval of the payment dissolving
table of the total price of the unit price contract: /.

 

13. Acceptance and Trial Run of Project

 

13.1 Acceptance of divisional and sub-divisional
works

 

13.1.2 In case of inability to carry out the acceptance
on time, the Supervisor shall submit a written request for extension 24 hours in advance.

 

The maximum extension shall not exceed: 48
hours.

 

13.2 Completion Acceptance

 

13.2.2 Completion acceptance procedure

 

Provisions on the completion acceptance procedure:
As per the General Conditions.

 

Calculation of liquidated damages for the Client’s
failure to organize the completion acceptance and issue the project acceptance certificate as agreed herein: As per the General Conditions.

 

13.2.5 Handover and acceptance of all or part
of the project

 

The time limit for the Contractor to hand over
the project to the Client: As per the General Conditions.

 

Calculation of liquidated damages for the Client’s
failure to accept all or part of the project: As per the General Conditions.

 

    20

     

    

 

Calculation of liquidated damages for the Contractor’s
failure to hand over the project on time: As per the General Conditions.

 

13.3 Trial Run of Project

 

13.3.1 Trial run procedure

 

Content of trial run: /.

 

(1) The cost of single-machine no-load trial run
shall be borne by /;

 

(2) The cost of no-load linkage trial run shall
be borne by /.

 

13.3 Commissioning run test

 

Provisions on matters related to commissioning
run test: /.

 

13.6 Demobilization after completion

 

14.6.1 Demobilization after completion

 

The time limit for the Contractor to complete
the demobilization: As per the General Conditions.

 

14. Completion Settlement

 

14.1 Application for Completion Settlement

 

The time limit for the Contractor to submit the
completion settlement application form: Within 28 days after the project is completed, accepted and delivered.

 

Contents to be included in completion settlement
application form: Article 14.1 of General Conditions of Contract.

 

14.2 Completion Settlement Audit

 

The time limit for the Client to examine and approve
the completion settlement application form: Implemented as per the Contract and bidding documents. The time limit of payment for
the Client to complete the completion settlement: Implemented as per the Contract and bidding documents.

 

The methods and procedures for the review of the
objection to the completion settlement certificate: As per the General Conditions.

 

14.4 Final Settlement

 

14.4.1 Final settlement application form

 

The number of copies of final settlement application
form submitted by the Contractor: Four copies.

 

The time limit for the Contractor to submit the
final settlement application form: Within 28 days after the expiry of the defect liability period.

 

    21

     

    

 

14.4.2 Final settlement certificate and payment

 

(1) The time limit for the Client to complete the
approval of the final settlement application form and issue the final settlement certificate: Within 28 days after the receipt of
the application.

 

(2) The time limit for the Client to complete
the payment: Within 14 days after the issuance of the final settlement certificate.

 

15. Defect Liability Period and Warranty

 

15.2 Defect Liability Period

 

Specific period of defect liability: 12 months.

 

15.3 Quality Bond

 

Provisions on whether to withhold the quality
bond: Yes.

 

15.3.1 Ways for the Contractor to provide the
quality bond

 

The quality bond shall be provided in the /
way:

 

(1) Letter of guarantee of quality bond, with
a guarantee amount of: /_;

 

(2) /% of the project price;

 

(3) Other situation: /.

 

15.3.2 Retention of quality bond

 

The quality bond shall be retained in the second
way:

 

(1) Retained upon the project progress payment
made, in which case the calculation base of the quality bond shall not include the payment of advance payment, deduction and the amount
of price adjustment.

 

(2) Retained in a lump sum at the completion settlement
of the project;

 

(3) Other retention ways: /.

 

Supplementary provisions on the quality bond:
Returned without interest one year after the completion and acceptance of the project.

 

15.4 Warranty

 

15.4.1 Warranty liability

 

Warranty period: See the Project Quality Warranty.

 

15.4.3 Notice of repair

 

Reasonable time for the Contractor to receive
the notice of repair and arrive at the construction site: Within 48 hours.

 

16. Breach of Contract

 

16.1 Breach of Contract by the Client

 

16.1.1 Circumstances of breach by the Client

 

Other circumstances of breach of contract by the
Client: As per the General Conditions.

 

    22

     

    

 

16.1.2 Liability of the Client for breach of contract

 

Assumption of liability for breach of contract
by the Client and calculation method:

 

(1) Liability for breach of contract if the commencement
notice fails to be issued within 7 days prior to the scheduled commencement date due to reasons attributable to the Client: Article
16.1 of the General Conditions of Contract.

 

(2) Liability for breach of contract if the Client
fails to pay the contract price as agreed herein due to reasons attributable to the Client: Article 16.1 of the General Conditions
of Contract.

 

(3) Liability for breach of contract if the Client
carries out the cancelled work on its own or transfers it to others for implementation, which is in violation of the provisions in (2)
of 10.1 [Scope of Change]: Article 16.1 of the General Conditions of Contract.

 

(4) Liability for breach of contract if the specification,
quantity or quality of the materials and construction equipment provided by the Client does not conform to the contract, or if the delivery
date is delayed or the delivery place is changed due to the Client: Article 16.1 of the General Conditions of Contract.

 

(5) Liability for breach of contract if the construction
is suspended caused by the Client’s violation of the contract: Article 16.1 of the General Conditions of Contract.

 

(6) Liability for breach of contract if the Client
fails to issue instructions for resumption of work within the agreed period without good reasons, resulting in the Contractor’s
inability to resume work: Article 16.1 of the General Conditions of Contract.

 

(7) Others: _/.

 

16.1.3 Rescission of the contract due to breach
by the Client

 

If the Client still fails to rectify the breach
after the Contractor’s suspension of the construction for a period of / days as agreed in 16.1.1 [Circumstances of breach
by the Client] and thus the purpose of the contract cannot be achieved, the Contractor shall have the right to rescind the contract.

 

16.2 Breach of Contract by the Contractor

 

16.2.1 Circumstances of breach by the Contractor

 

Other circumstances of breach of contract by the
Contractor: As per the General Conditions.

 

16.2.2 Liability of the Contractor for breach
of contract

 

Assumption of liability for breach of contract
by the Contractor and calculation method: As per the General Conditions.

 

16.2.3 Rescission of the contract due to breach
by the Contractor

 

    23

     

    

 

Special provisions on the rescission of the contract
due to breach by the Contractor: No affiliation, contract transfer or unauthorized subcontracting is allowed, otherwise the Client
has the right to terminate the contract and confiscate the performance bond, the Contractor shall unconditionally withdraw from the site
within 10 days, and the completed qualified quantity of work will be settled at 70% of the price. Meanwhile, the Client will choose another
construction team to complete the remaining quantity, and the direct and indirect losses arising therefrom shall be borne by the original
Contractor.

 

Assumption of costs for the Client’s the
continued use of the Contractor’s materials, equipment and temporary works at the construction site, Contractor’s documents
and other documents prepared by or on behalf of the Contractor: As per the General Conditions.

 

17. Force Majeure

 

17.1 Confirmation of Force Majeure

 

Other circumstances deemed as force majeure in
addition to the force majeure events stipulated in the General Conditions of Contract: /.

 

17.4 Rescission of the Contract Due to Force Majeure

 

Upon
rescission of the contract, the Client shall complete the payment within / days  after
it is agreed or determined that the Client shall pay the amount.

 

18. Insurance

 

18.1 Project Insurance

 

Special provisions on the project insurance: As
per the General Conditions.

 

18.3 Other Insurance

 

Provisions on other insurance: /.

 

Whether the Contractor shall take out property
insurance for its construction equipment, etc.: As per the General Conditions.

 

18.7 Obligations of Notification

 

Provisions on notification obligation in case
of change of insurance contract: As per the General Conditions.

 

    24

     

    

 

19. Dispute Resolution

 

19.3 Dispute Review

 

Whether the parties agree to submit the project
dispute to the dispute review panel for decision: /.

 

19.3.1 Determination of the dispute review panel

 

Determination of the members of the dispute review
panel: /.

 

Time limit for selecting dispute reviewers: /.

 

Compensation for members of the dispute review
panel: /.

 

Provisions on other matters: /.

 

20.3.2 Decision of the dispute review panel

 

Provisions of the parties concerning this item:

 

19.4 Arbitration or Litigation

 

Disputes arising out of the contract and contract-related
matters shall be settled in accordance with (2) below:

 

(1) Apply to / arbitration commission for
arbitration;

 

(2) File a lawsuit with the people’s court in
the place where the project is located.

 

 

 

25Exhibit 4.16

 

No.: 

 

 

 

 

Working Capital
Loan Contract

 

Bank of Communications
Co., Ltd.

 

 

 

 

 

     

     

    

 

No.:

 

Working Capital Loan Contract

 

	
     

    Important Notice

    The borrower is requested to read the full
    text of this

 contract carefully, especially the provisions marked with ▲▲. 

Please ask the Lender to explain in time in case
    of any doubt.

 

In view of the Borrower’s application for working
capital loan line of credit from the Lender, and in order to clarify the rights and obligations of both parties, the Borrower and the
Lender hereby conclude this contract through negotiation.

 

Article 1 Definition

 

“Line of credit” refers to the maximum
amount of loan balance (under revolving line of credit) or total loan (under lump-sum line of credit) that the Lender may issue to the
Borrower according to the contract, and the line of credit can be revolving line of credit or lump-sum line of credit (only used once
or can be used several times) according to the contract.

 

“Revolving line of credit” means that
the Borrower can apply for using the line of credit several times as agreed in this contract to obtain the loan, but the loan balance
cannot exceed the agreed line of credit.

 

“Lump-sum line of credit” means that the
Borrower can apply for using the line of credit at one time or several times as agreed in this contract to obtain the loan, but the total
amount of loans withdrawn cumulatively cannot exceed the agreed line of credit.

 

“Loan balance” refers to the sum of the
loan principal amount obtained by the Borrower under this contract and not yet paid off.

 

    2

     

    

 

“Line of credit balance” refers to the
amount after deducting the loan balance (under the revolving line of credit) or the total loan (under the lump-sum line of credit) from
the line of credit.

 

“Credit period” refers to the period during
which the Lender grants the loan to the Borrower according to the Borrower’s application and the agreement in this contract, and which
belongs to the loan occurrence period rather than the loan term.

 

“Loan term” refers to the term of each
loan determined by both parties in the corresponding Application for Use of Loan Line of Credit of Bank of Communications (hereinafter
referred to as “Application for Use of Line of Credit”).

 

“Loan prime rate (LPR)” refers to the
loan prime rate released by the National Interbank Funding Center on the 20th day of each month (postponed in case of holidays).

 

“Bank working day” and “working day”
refer to the opening day of the bank’s corporate business in the place where the Lender is located, excluding legal holidays and rest
days (except for business due to holiday adjustment). If the loan date, repayment date, interest payment date, maturity date and other
obligation fulfillment dates meet non-bank working day, it shall be postponed to the next bank working day accordingly.

 

“Related parties” refer to the authorized
handler, agent, legal representative, person in charge, controlling shareholder or actual controller, beneficial owner and other related
parties directly or indirectly of the Borrower.

 

“Business related parties” refer to all
parties to the transaction under the basic transaction contract, other related entities other than the parties to the transaction, as
well as the parties to the transaction, authorized handlers, agents, legal representatives, persons in charge, controlling shareholders
or actual controllers, beneficial owners and other parties.

 

    3

     

    

 

Related parties, related party transactions, individual
major investors and other words have the same meanings as those in Accounting Standards for Business Enterprises No.36 - Related Party
Disclosure (CAI KUAI No.3 [2006]) and subsequent amendments to the standards.

 

Article 2 Use of Line of Credit

 

2.1 The Borrower should apply to the Lender at least
5 banking days in advance when it needs to use the line of credit. When applying, the Borrower should fill in the Application for Use
of Line of Credit, which can only be used after being examined and approved by the Lender.

 

▲▲ 2.2 Every use of the line of credit
is subject to all the following conditions:

 

(1) The loan balance (under the revolving line of
credit) or the total loan (under the lump-sum line of credit) does not exceed the line of credit;

 

(2) The applied loan amount does not exceed the
balance of the line of credit;

 

(3) The application date and loan date are within
the credit period;

 

(4) The loan term and maturity date of the loan
are in line with this contract;

 

(5) The guarantee contract under this contract (if
any) has come into force and continues to be valid. If the guarantee contract is a mortgage contract and/or pledge contract, the real
rights granted by way of security have been established and continue to be valid;

 

(6) The Borrower has completed the government permission,
approval, registration and other procedures that must be handled by law when applying for the loan, and the permission, approval or registration
continues to be valid;

 

(7) After the contract comes into effect, the Borrower’s
operating and financial conditions have no significant adverse changes;

 

(8) The application of the Borrower meets the requirements
of relevant rules and regulations of the Lender;

 

(9) The Borrower has not violated the contract;

 

    4

     

    

 

(10) The payment method of the loan is in accordance
with this contract. If the Lender is entrusted to pay, the Lender agrees to pay;

 

(11) In case of drawing foreign currency loans,
the Borrower has provided proof documents that the loans comply with relevant foreign exchange management policies, including but not
limited to valid foreign exchange purpose certificates or registration documents;

 

(12) The Borrower has designated a special fund
withdrawal account and signed an account management agreement as required by the Lender.

 

▲▲2.3 If the Lender agrees to grant
the loan, the final loan information shall be subject to the contents of the bank print column of the Application for Use of Line of Credit.
The Application for Use of Line of Credit is also used as the Loan Voucher.

 

▲▲2.4 If the currency of the Application
for Use of Line of Credit is inconsistent with the currency of the line of credit, only for the purpose of determining the line of credit
balance, it shall be converted according to the exchange rate published by Bank of Communications Co., Ltd. at the beginning of each day;
if there is no directly applicable exchange rate, it shall be converted by Bank of Communications Co., Ltd. according to the exchange
rate determined in a reasonable way.

 

▲▲2.5 After the Borrower becomes the
shareholder of the guarantor or the “actual controller” as defined in the Company Law, the Lender has the right to suspend or
cancel the unused loan line of credit of the Borrower before the guarantor provides the resolution on agreeing to provide guarantee for
the Borrower by its shareholders’ meeting (General Meeting of Shareholders) accepted by the Lender.

 

Article 3 Interest Rate, Interest Calculation and
Payment

 

3.1 Basic rules for determining the interest rate

 

3.1.1 The annual loan interest rate (simple interest)
under this contract is based on the loan prime rate (LPR) as the pricing benchmark, calculated according to the loan prime rate (LPR)
plus (minus) points (1 basis point is 0.01 percent, 1 percentage point is 100 basis points), and the interest rate shall be agreed by
both parties in the Application for Use of Line of Credit after negotiation every time the Borrower uses its line of credit.

 

    5

     

    

 

If both parties agree to apply the fixed interest
rate in the Application for Use of Line of Credit, and the specific value is recorded in the fixed interest rate value field, the specific
interest rate of each loan shall be subject to the value recorded in the fixed interest rate value field in the Application for Use of
Line of Credit. The specific value will be determined based on the specific value of the loan prime rate (LPR) applicable to the applicable
date of the pricing benchmark agreed in the Application for Use of Line of Credit (hereinafter referred to as “LPR value”) and
according to the value of plus (minus) points agreed in the Application for Use of Line of Credit. If the specific value is not recorded
in the fixed interest rate value field, the specific interest rate of each loan will be determined based on the LPR value applicable to
the applicable date of the pricing benchmark agreed in the Application for Use of Line of Credit and according to the plus (minus) point
value agreed in the Application for Use of Line of Credit.

 

If both parties agree to apply the floating interest
rate in the Application for Use of Line of Credit, the specific interest rate of each loan will be determined based on the LPR value applicable
to the applicable date of the pricing benchmark agreed in the Application for Use of Line of Credit, the value of the plus (minus) points,
the interest rate fluctuation rules, the interest rate fluctuation period, the unit of interest rate fluctuation period and the floating
start date of a specific date (if necessary) agreed in the Application for Use of Line of Credit.

 

3.1.2 If the currency is RMB, the daily interest
rate = interest rate/30, and the monthly interest rate = annual interest rate/12; If the currency is Hong Kong dollars, British pounds
and Australian dollars, the daily interest rate = annual interest rate/365; If the currency is USD, Euro, Japanese yen and other foreign
currencies accepted by the Lender, the daily interest rate = annual interest rate/360.

 

▲▲3.2 Loan interest rate

 

The loan interest rate for each loan is determined
based on the applicable LPR value of the “applicable date of the pricing benchmark” agreed in the corresponding Application
for Use of Line of Credit, and according to the plus (minus) point value agreed in the Application for Use of Line of Credit. Take the
“applicable date of the pricing benchmark” as the T-day, and the applicable LPR value on T-day is the last published loan prime
rate (LPR) value before T-day.

 

    6

     

    

 

3.3 Adjustment of the interest rate

 

3.3.1 If a fixed interest rate is recorded in the
Application for Use of Line of Credit, the recorded interest rate will be implemented for the loan within the loan term.

 

▲▲3.3.2 If a floating interest rate
is recorded in the Application for Use of Line of Credit, the loan interest rate adjustment date shall be determined according to the
interest rate fluctuation rules, interest rate fluctuation period, unit of interest rate fluctuation period and floating start date of
specific date (if necessary) agreed in the Application for Use of Line of Credit, and the adjusted interest rate shall apply from the
loan interest rate adjustment date.

 

3.3.2.1 If the loan prime rate (LPR) of the loan
market is adjusted during the loan period, the period of adjustment of the loan interest rate will be calculated from the “loan entry
date” or the “floating start date of the specific date” according to the “floating by loan entry date” or “floating
on specific starting date” selected in “interest rate fluctuation rules”. The blank column of interest rate floating cycle
shall be filled with the number of interest rate floating cycles, and the unit of interest rate floating cycle can be selected as daily
or monthly. If “1” is filled in the number of interest rate floating cycles and “daily” is selected as the floating
cycle unit, the adjustment date of loan prime rate (LPR) will be taken as the adjustment date of loan interest rate; If “3”
is filled in the number of interest rate floating cycles and “daily” is selected as the floating cycle unit, the loan interest
rate adjustment date will be the date every 3 days from the “loan entry date” or “floating start date of specific date”;
If “1” is filled in the number of interest rate floating cycles and “monthly” is selected as the floating cycle unit,
the loan interest rate adjustment date will be the date of every month from the “loan entry date” or “floating start date
of specific date”; If “3” is filled in the number of interest rate floating cycles and “monthly” is selected
as the floating cycle unit, the loan interest rate adjustment date will be every 3 months from the “loan entry date” or “floating
start date of specific date”, and so on.

 

    7

     

    

 

3.3.2.2 The loan interest rate on the loan interest
rate adjustment date is determined on the basis of the applicable LPR value on the loan interest rate adjustment date, and the value of
interest rate plus (minus) points remains unchanged (except for the value of plus (minus) points adjusted by both parties through consultation).
Take the “loan interest rate adjustment date” as the T-day, and the applicable LPR value on the T-day is the last published
loan prime rate (LPR) value before T-day.

 

▲▲3.3.3 If the loan prime rate (LPR)
is canceled or the corresponding publishing institution stops publishing according to the regulatory requirements, both parties shall
negotiate and adjust the loan interest rate separately, but the adjusted interest rate shall not be lower than the applicable interest
rate at that time; If the two parties still fail to reach an agreement on the adjusted interest rate after more than one month from the
date when the loan prime rate (LPR) is canceled or stopped publishing, the Lender has the right to declare the loan to expire in advance.

 

▲▲3.3.4 Both parties can adjust the
value of the plus (minus) points of the corresponding loan interest rate after consensus on each loan interest rate adjustment date.

 

3.4 If the loan currency is RMB, the penalty interest
rate of overdue loans will be increased by 50% according to the interest rate agreed in this contract, and the penalty interest rate of
misappropriated loans will be increased by 100% according to the interest rate agreed in this contract. In case of adjustment of loan
prime rate (LPR) for floating rate loans, the Lender has the right to adjust the applicable penalty interest rate for each loan accordingly,
and apply the new penalty interest rate from the adjustment date of loan interest rate agreed in the corresponding Application for Use
of Line of Credit.

 

3.5 Calculation of interest

 

3.5.1 Normal interest = interest rate agreed in
this contract × loan amount × occupied days.

 

    8

     

    

 

The occupied days are calculated from the loan date
(inclusive) to the expiration date (exclusive), which will be postponed when the expiration date is not a working day. The postponed period
will be counted as occupied days, and the interest will still be calculated according to the contract.

 

3.5.2 The penalty interest for overdue loans and
misappropriated loans is calculated according to the overdue or misappropriated amount and actual days (from the overdue or misappropriated
date (inclusive) to the date of repayment of principal and interest (exclusive)).

 

3.5.3 If the calculated interest/penalty interest
has a large number of decimal places, the Lender will keep two decimal places by rounding.

 

▲▲3.6 If the Borrower repays the loan
in advance or the Lender withdraws the loan in advance according to this contract, the corresponding interest rate grade will not be adjusted,
and the interest rate agreed in this contract will still be applied.

 

3.7 If the loan currency is foreign currency, the
determination of interest rate, adjustment of interest rate, penalty interest rate for overdue and misappropriated loans shall be subject
to the agreement in Article 17 of this contract.

 

Article 4 Payment of Loan

 

4.1 If the loan account designated by the Borrower
is a special loan issuance account opened at the Lender, the issuance and payment of the loan shall be handled through this account. This
account is only used for the issuance of loan funds and external payment, only for the sale of “Application for Settlement Business”
vouchers; It cannot be used for handling checks, bills of exchange, bank acceptance bills and other businesses, and cannot be used for
other settlements. When the Borrower pays for the loan fund allocation independently, it must be handled at the counter of the account
opening outlet. The deposit interest of this account is included in the Borrower’s repayment account.

 

4.2 When the Borrower withdraws the loan according
to this contract, it should specify the payment method (the Lender’s entrusted payment or the Borrower’s independent payment), and only
one payment method can be used for each withdrawal.

 

    9

     

    

 

4.3 The Lender’s entrusted payment means that the
Lender directly pays the loan funds to the Borrower’s counterparty that meets the purpose agreed in this contract through the Borrower’s
account after issuing the loan according to the Borrower’s entrusted payment power of attorney.

 

If the single payment amount exceeds the independent
payment line of credit or meets one of the conditions agreed in Article 19.3, the entrusted loan payment method shall be adopted.

 

In case of the Lender’s entrusted payment, the Borrower
shall submit to the Lender the Application for Use of Line of Credit, the corresponding entrusted payment power of attorney and other
information required by the Lender (including but not limited to business contracts, invoices, receipt documents and other transaction
information), and specify the amount of the loan to withdraw and the object and amount of payment, and the amount of the loan to withdraw
should be equal to the total amount to be paid.

 

▲▲If the payment to be made by the Borrower
does not conform to this contract or the corresponding commercial contract or has other defects, the Lender has the right to refuse the
payment and return the entrusted payment power of attorney submitted by the Borrower.

 

▲▲If the Lender agrees to pay, and if
it can’t be paid or it is refunded due to the wrong information provided by the Borrower, the Borrower must resubmit the relevant documents
and materials containing the correct information within the time line of credit specified by the Lender, and the Lender will not be responsible
for the delay or unsuccessful payment.

 

4.4 The Borrower’s independent payment means that
after the Lender grants the loan funds to the Borrower’s account according to the agreement in this contract, the Borrower pays the loan
funds to the Borrower’s counterparty that meets the purpose agreed in this contract.

 

If the Borrower’s independent payment is adopted,
the Borrower shall submit to the Lender the Application for Use of Line of Credit, instructions on the use of funds and other materials
required by the Lender. The Borrower shall summarize and report the payment of loan funds to the Lender on time. The Lender has the right
to check whether the payment of loan funds meets the agreed purpose by means of account analysis, voucher inspection, on-site investigation,
etc. The Borrower shall cooperate with the Lender’s verification.

 

    10

     

    

 

Article 5 Repayment of Loan

 

5.1 The Borrower shall repay the loan according
to the repayment date and amount recorded in the corresponding Application for Use of Line of Credit.

 

▲▲5.2 Without the written consent of
the Lender, the Borrower cannot repay the loan in advance.

 

▲▲5.3 The repayment arrangement of the
principal and interest agreed by the Borrower and the Lender in the Application for Use of Line of Credit is the real intention reached
by both parties on a voluntary basis after consultation. Under the repayment arrangement chosen by both parties, whether the principal
is repaid before the interest does not affect the Borrower’s repayment responsibility for the interest payable, and the Borrower shall
not argue against the repayment of the interest payable. Under any repayment arrangement, the Borrower shall bear the repayment responsibility
for all the principal and interest payable.

 

▲▲5.4 When the repayment of the Borrower
(including the repayment voluntarily repaid by the Borrower and deducted by the Lender according to this contract) cannot fully pay off
all the debts of the Borrower:

 

(1) It should be used to pay off the overdue expenses
first. If the principal and interest are overdue for less than 90 days, the balance after offsetting the expenses shall be used to offset
the overdue interest or penalty interest and compound interest, and then used to offset the overdue principal; If the principal or interest
is overdue for more than 90 days, the balance after offsetting the expenses shall be used to offset the overdue principal first, and then
used to offset the overdue interest or penalty interest and compound interest;

 

(2) If the Borrower has multiple debts (including
the debts of the Borrower to the Lender under other contracts), the Lender has the right to decide the repayment and offset order of each
debt of the Borrower by itself, as long as the offset order does not violate the mandatory provisions of laws, regulations, rules and
regulations as well as relevant regulatory requirements applicable to the Lender. The Lender shall inform the Borrower of the result of
debt repayment. Unless otherwise agreed by both parties to this article.

 

    11

     

    

 

 

Article 6 Statement and Guarantee of the Borrower

 

6.1 The Borrower is legally established and legally
exists; It has all necessary rights and capabilities, and it can perform the obligations of this contract in its own name and bear civil
liabilities.

 

6.2 Signing and performing this contract is the
true intention of the Borrower after all necessary consent, approval and authorization, and there is no any legal flaw.

 

6.3 The Borrower’s production and operation are
legal and compliant, with the ability of going concern, legal sources of repayment, no major environmental and social risks and no major
bad credit record. The senior management of the Borrower has no bad record.

 

6.4 All documents, statements, data and information
provided by the Borrower to the Lender during the signing and performance of this contract are true, accurate, complete and effective.
No information that may affect its financial status and repayment ability has been concealed from the Lender, and the financial status
of the Borrower has no significant adverse changes since the reporting date of the latest financial statements.

 

▲▲6.5 The Borrower, its related parties
and business related parties are not listed in the sanctions list issued by the United Nations and related countries, organizations and
institutions, or the enterprises or individuals listed in the risk list related to terrorism and anti-money laundering issued by Chinese
government departments or authorities; They are not located in countries and regions that are not sanctioned by the United Nations and
related countries, organizations and institutions.

 

▲▲6.6 The Borrower promises to abide
by the national anti-money laundering laws, regulations and relevant policies, not to engage in illegal activities such as assisting others
in money laundering, terrorist financing, tax evasion, evasion of bank debts, cash extraction, telecom fraud, illegal fund-raising, etc.,
actively cooperate with the Lender to carry out various anti-money laundering work such as customer identification, transaction record
keeping, due diligence on customer identity and transaction background, large and suspicious transaction reports, etc., and provide relevant
certification materials as required by the Lender.

 

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Article 7 Rights and Obligations of the Lender

 

7.1 The Lender has the right to recover the loan
principal and interest (including compound interest, penalty interest for overdue loans and misappropriation of loans, etc.) according
to this contract, collect the fees payable by the Borrower, decide to recover the loan in advance according to the Borrower’s fund withdrawal,
and exercise other rights stipulated by law or this contract.

 

▲▲7.2 During the performance of this
contract, the Lender only conducts formal review on the information provided by the Borrower. If the materials provided by the Borrower
are untrue, inaccurate or incomplete, or the Borrower violates the agreement of this contract to make payment, resulting in the Lender’s
failure to complete the entrusted payment in time, the Lender will not be liable.

 

▲▲7.3 The Lender shall issue the loan
and handle the payment according to this contract. If the Lender fails to issue the loan or make payment on time due to any of the following
reasons, the Lender will not be liable, but it will inform the Borrower in time: The loan account designated by the Borrower is frozen,
the payment object account is frozen, force majeure, communication or network failure, system failure of the Lender, etc. Unless otherwise
agreed in this contract.

 

Article 8 Obligations of the Borrower

 

8.1 The Borrower shall repay the loan principal
under this contract and pay the interest according to the time, amount, currency and interest rate recorded in this contract and the corresponding
Application for Use of Line of Credit.

 

The fund withdrawal account designated by the Borrower
is used to collect the corresponding sales revenue or planned repayment funds. If the corresponding sales revenue is settled in a non-cash
manner, the Borrower shall ensure that the money is promptly transferred to the fund withdrawal account after being received. The Borrower
shall provide the capital inflow and outflow of the capital withdrawal account as required by the Lender.

 

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8.2 The Borrower shall use the line of credit according
to the purpose agreed in this contract, and use the loan according to the purpose determined in the corresponding Application for Use
of Line of Credit, and shall not use the loan for other purposes, or use the loan for fixed assets investment, equity investment, fields
and purposes prohibited by the state from production and operation.

 

The Borrower shall use the loan funds as agreed,
and shall not avoid the Lender’s entrusted payment by breaking up the whole into parts; If the Borrower’s independent payment is adopted,
the Borrower shall use the loan within a reasonable time according to the requirements of the Lender’s supervisory authority, and the
payment of loan funds shall comply with this contract.

 

▲▲8.3 The Borrower shall bear the settlement
fees (if any) for the loan fund payment (including the Lender’s entrusted payment and the Borrower’s independent payment), and the specific
fees shall be implemented according to laws, regulations, rules, regulatory requirements and the Service Charges List of the Bank of Communications
effective at that time published by the Lender.

 

If the loan account is a special loan issuing account,
when the loan funds are paid (including the Lender’s entrusted payment and the Borrower’s independent payment), if the collection account
does not belong to the account opened in the Bank of Communications, the payment of the funds may be handled through the payment system
of the People’s Bank of China or the local exchange system.

 

If the loan account is not a special loan issuing
account, when the loan funds are paid (including the Lender’s entrusted payment and the Borrower’s independent payment), if the collection
account is an account of another bank in different places, all the payment of funds will be handled through the payment system of the
People’s Bank of China.

 

▲▲8.4 The Borrower shall cooperate with
the Lender to handle the loan payment and supervise and inspect the loan usage as well as the Borrower’s operation; It shall timely provide
the financial statements, loan fund usage records and materials, related party and related party transaction information, environmental
and social risk reports, other materials and information required by the Lender for post-loan risk management, and ensure that the documents,
materials and information provided are true, complete and accurate.

 

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▲▲8.5 In case of any of the following
events, the Borrower shall notify the Lender in writing at least 30 days in advance, and shall not take any action before paying off all
the loan principal and interest under this contract or providing the repayment scheme and guarantee approved by the Lender:

 

(1) The Borrower disposes of all or most assets
or important assets by selling, donating, leasing, lending, transfer, mortgage, pledge or otherwise;

 

(2) Significant changes have taken place in the
Borrower’s management system or property right organization form, including but not limited to the implementation of contract, lease,
joint venture, company system reform, joint-stock cooperation system reform, enterprise sale, merger (acquisition), joint venture (cooperation),
division, establishment of subsidiaries, equity transfer, property right transfer, capital reduction, etc.

 

(3) The Borrower’s foreign equity or increased debt
financing exceeds the agreed line of credit.

 

▲▲8.6 The Borrower shall notify the
Lender in writing within 7 days from the date when the following events happen or may happen:

 

(1) The Borrower or its related party modifies the
articles of association, changes the business registration items such as enterprise name, legal representative (person in charge), residence,
postal address or business scope, or makes decisions that have a significant impact on finance and personnel;

 

(2) The Borrower, its related party or guarantor
intends to apply for bankruptcy or may have been or has been applied for bankruptcy by creditors;

 

(3) The Borrower or its related party is involved
in major litigation, arbitration and administrative measures, or property preservation or other compulsory measures have been taken for
its main assets or collateral under this contract, or the safety and integrity of its main assets or collateral under this contract has
been or may be affected, or its value is reduced or may be reduced;

 

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(4) The Borrower or its related party provides a
guarantee for a third party, which has a significant adverse impact on its economic status, financial status or ability to perform its
obligations under this contract;

 

(5) The Borrower or its related party signs a contract
that has a significant impact on its operation and financial status;

 

(6) The Borrower pays off the unexpired debts in
advance or gives priority to paying off other due debts, adds any form of guarantee such as pledge for other existing debts, or makes
any arrangement or signs relevant documents with similar effect;

 

(7) The Borrower, its related party or guarantor
suspends production, closes down, dissolves or suspends business for rectification, is revoked or its business license is revoked;

 

(8) The Borrower or its related party, the individual
principal investor of the Borrower or its related party, the legal representative (person in charge), director or key management personnel
of the Borrower or its related party is missing, involved in violations of laws and regulations or in violation of applicable exchange
rules or has any abnormal changes;

 

(9) The Borrower or its related party has serious
difficulties in operation, or its financial situation deteriorates, or other events that have a negative impact on the operation, financial
situation, solvency or economic situation of the Borrower or its related parties occur;

 

(10) Related party transactions occur, and the monthly
transaction amount reaches or exceeds 10% of the recently audited net assets;

 

(11) Before paying off all debts under this contract,
the Borrower becomes or may become the shareholder or the “actual controller” as defined in the Company Law of the guarantor;

 

(12) The Borrower or its related party is exposed
by the media because of its violation of laws, regulations, regulatory requirements, national policies or industry standards, etc.;

 

(13) The Borrower or its related party has any safety
or environmental accident;

 

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(14) The controlling or controlled relationship
between the Borrower’s related party and the Borrower changes;

 

(15) The Borrower or its related party has any significant
equity change;

 

(16) The audit opinion issued by the external auditor
of the Borrower on its financial statements is not a standard unqualified opinion;

 

(17) The Borrower has been or may be investigated,
punished or taken other similar measures by the competent authority for violating laws, regulations and/or regulatory requirements;

 

(18) The Borrower or its related party or business
related party is included in the sanctions list issued by the United Nations and related countries, organizations and institutions, and
the list of risks related to terrorism and anti-money laundering issued by Chinese government departments or authorities; Or the country
and region where the Borrower or its related person or business related party is located is included in the list of countries and regions
sanctioned by the United Nations and related countries, organizations and institutions;

 

(19) Other major adverse events that affect the
solvency of the Borrower or its related party occur.

 

▲▲8.7 When the guarantee under this
contract changes to the detriment of the Lender’s creditor’s rights, the Borrower shall provide other guarantees recognized by the Lender
in a timely manner as required by the Lender.

 

The “change” mentioned in this paragraph
includes but is not limited to: merger, division, suspension of production, suspension of business, dissolution, suspension of business
for rectification, being revoked, revocation of business license, application or being applied for bankruptcy of the guarantor; Significant
changes have taken place in the operation or financial status of the guarantor; The guarantor involves major litigation, arbitration,
administrative measures, or property preservation or other compulsory measures have been taken for its main assets; The security and integrity
of the collateral is or may be affected; The value of collateral is reduced or may be reduced, or compulsory measures such as property
preservation such as seizure are taken; The guarantor or its legal representative (person in charge) or key management personnel is involved
in violation of laws and regulations or the applicable exchange rules; If the guarantor is an individual, the guarantor is missing or
dead (declared dead); The guarantor has breached the contract under the guarantee contract; Disputes between the guarantor and the Borrower
occur; The guarantor asks to cancel the guarantee contract; The guarantee contract is ineffective, invalid or revoked; The real rights
granted by way of security are not established or invalid; Or other events affecting the security of the Lender’s creditor’s rights occur,
etc.

 

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▲▲8.8 The Borrower promises that: from
the date of signing this contract until all the loan principal and interest and related expenses under this contract are paid off, the
financial indicators, external agency rating and production and operation qualifications/licenses of the Borrower always comply with the
contract, and if the production and operation qualifications/licenses need to be examined annually, they should pass the annual examination
on time.

 

8.9 The Borrower guarantees that the Borrower, the
Borrower’s employees and agents will not provide, give, ask for or accept material benefits in any form other than those stipulated in
this contract (including but not limited to cash, physical cards, travel, etc.) or other non-material benefits to the Lender or the Lender’s
employees in any form; The Borrower, the Borrower’s employees and agents will not directly or indirectly use the funds or services provided
by the Lender for activities related to corruption or bribery in any form; If the Borrower is aware of any violation of this article,
it should provide clues and relevant information to the Lender in a timely, truthful, complete and accurate manner, and cooperate with
relevant matters as required by the Lender.

 

▲▲ Article 9 Adjustment of the Line of
Credit, Premature Expiration of Loan and Risk Repricing

 

9.1 Any of the following events shall be regarded
as the “premature expiration event” of this contract:

 

(1) The Borrower fails to repay the loan principal
or pay interest as agreed in any Application for Use of Line of Credit under this contract;

 

(2) The statements and guarantees made by the Borrower
under this contract are untrue;

 

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(3) Any of the notifiable matters listed in Article
8.6 actually happens, which affects or may affect the security of the Lender’s creditor’s rights;

 

(4) The change of laws, regulations and regulatory
policies causes that the loan issuance by the Lender as agreed in this contract constitutes or may constitute violations of laws or regulations;

 

(5) When the Borrower performs other contracts with
the Lender or contracts with a third party, there is a breach of contract or the debt may or has been announced to be due in advance;

 

(6) The Borrower violates other agreements in this
contract.

 

9.2 When any “premature expiration event”
occurs, the Lender has the right to take one, several or all of the following measures:

 

(1) Reduce, suspend or cancel the line of credit
under this contract;

 

(2) Stop issuing loans that have not been drawn
by the Borrower;

 

(3) Stop handle the payment that the Borrower has
withdrawn but not yet used;

 

(4) Require the Borrower to negotiate with the Lender
for supplementary loan issuance and payment conditions within a time limit;

 

(5) Require the Borrower to change the payment method
as required by the Lender;

 

(6) Reprice the risk of loans as agreed in Article
9.3;

 

(7) Unilaterally declare that all the loan principal
issued under the contract is due in advance and require the Borrower to immediately repay all the loan principal due and settle the interest.

 

9.3 According to the production and operation situation
of the Borrower at the time of signing this contract, the interest rate agreed in this contract and its adjustment are determined by both
parties through negotiation. The Borrower agrees that in the event of any “premature expiration event”, the Lender has the right
to reprice the risk of the loan according to this article.

 

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9.3.1 Risk repricing includes negotiated repricing
and direct increase of the loan interest rate. The risk repricing method adopted in this contract is agreed by both parties in Article
21.

 

9.3.2 “Negotiated repricing” means that
the Lender has the right to ask the Borrower to negotiate with the Lender to increase the loan interest rate within a time limit, and
both parties determine the “repricing date” and the specific agreement on relevant interest rates by means of supplementary
agreement.

 

9.3.3 “Direct increase of the loan interest
rate” means that the Lender has the right to directly increase the loan interest rate according to this article and Article 21.

 

9.3.3.1 Since the “repricing date” notified
by the Lender to the Borrower in writing, the increased loan interest rate will be applied to all loans that the borrower has not repaid
as of the “repricing date”.

 

9.3.3.2 If the loan currency is RMB, on the basis
of the applicable LPR value on the “repricing date”, the loan interest rate after each loan increase shall be determined according
to the value of the plus (minus) points agreed in Article 21.

 

Take the “repricing date” as the T-day,
and the applicable LPR value on T-day is the last published loan prime rate (LPR) value before T-day.

 

9.3.3.3 If the loan currency is foreign currency,
the loan interest rate after the increase shall be determined according to Article 21.

 

9.3.4 After the Lender reprices the risk according
to the aforementioned agreement, the new interest rate will be implemented from the “repricing date”. On the basis of this interest
rate, it is still subject to the floating adjustment as agreed in Article 3 of this contract. If both parties agree to change the relevant
agreement through consultation, the agreement after the change shall prevail. In case of loans overdue (including the Borrower’s failure
to repay the loan on time or the Lender’s announcement of premature maturity) or misappropriation, the penalty interest rate for overdue
and misappropriation will be determined on the basis of the new interest rate (including the interest rate after floating adjustment as
agreed in this contract), and the interest rate for calculating compound interest will also be adjusted accordingly.

 

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9.3.5 The implementation of “risk repricing”
shall not be deemed or interpreted as the Lender waiving other rights stipulated by laws and regulations and agreed in this contract.
The Lender has the right to take other creditor’s rights protection measures according to laws and regulations and the contract, including
but not limited to the measures agreed in Article 9.2.

 

▲▲Article 10 Breach of Contract

 

10.1 If the Borrower fails to repay the loan principal
in full and on time, pay interest or use the loan according to the purpose agreed in this contract, the Lender will charge interest according
to the penalty interest rate of overdue loans or the penalty interest rate of misappropriated loans, and calculate compound interest on
the unpaid interest payable. If the penalty interest rate is adjusted according to the contract, the interest rate for calculating compound
interest will also be adjusted accordingly.

 

10.2 If the Borrower fails to repay the loan principal
and pay the interest in full and on time, it shall bear the urging fees, litigation fees (or arbitration fees), preservation fees, announcement
fees, execution fees, legal fees, travel expenses and other fees paid by the Lender to realize the creditor’s rights.

 

▲▲Article 11 Agreement on Deduction

 

11.1 When the Borrower authorizes and there is the
loan principal, interest, penalty interest, compound interest or other fees due and payable, the Lender has the right to deduct the funds
in any account opened by the Borrower in all branches of Bank of Communications Co., Ltd. for repayment.

 

11.2 After deduction, the Lender shall notify the
Borrower of the account number, contract number, number of Application for Use of Line of Credit, deduction amount and remaining debt
amount involved in deduction.

 

11.3 If the deduction proceeds are not enough to
pay off all the debts of the Borrower, the debts to be paid off and offset shall be determined according to this contract.

 

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11.4 If the currency of deduction proceeds is inconsistent
with that of the debt to be offset, it shall be converted into the amount of the debt to be offset according to the exchange rate published
by Bank of Communications Co., Ltd. at the time of deduction. If any foreign exchange settlement and sales or foreign exchange conversion
procedures need to be handled, the Borrower has the obligation to assist the Lender in handling the formalities as required by the Lender,
and the exchange rate risk shall be borne by the Borrower.

 

▲▲Article 12 Notice

 

12.1 The contact information (including postal address,
telephone number, fax number, etc.) filled in by the Borrower in this contract is true and valid. In case of any change of the contact
information, the Borrower shall immediately mail/send the change information in writing to the postal address filled in by the Lender
in this contract. Such information change will take effect after the Lender receives the notice of change.

 

12.2 Unless otherwise expressly agreed in this contract,
the Lender has the right to notice the Borrower in any of the following ways. The Lender has the right to choose the notice method it
deems appropriate, and does not need to be responsible for transmission errors, omissions or delays in postal, fax, telephone or any other
communication system. If the Lender chooses multiple notice methods at the same time, the one that arrives at the Borrower sooner shall
prevail. For the same matter, if the Lender sends more than one notice to the Borrower with different contents, unless otherwise specified
in the notice, the later notice shall prevail.

 

(1) For announcement, the date when the Lender issues
an announcement on its website, online banking, telephone banking or business outlets shall be regarded as the date of delivery;

 

(2) For delivery by special person, the date of
receipt by the Borrower shall be regarded as the date of delivery;

 

(3) For delivery by post (including express mail,
ordinary mail and registered mail) to the latest known address of the Borrower, the 3rd day (in the same place)/5th day (in different
places) after the date of mailing shall be regarded as the delivery date;

 

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(4) For fax, mobile phone short message or other
electronic communication methods to the latest known fax number of the Borrower, the mobile phone number or email address designated by
the Borrower to the Lender, the date of sending is regarded as the date of delivery. The aforementioned delivery means that the relevant
information enters the server terminal of the service provider without taking the actual display of the relevant information in the client
terminal as the standard.

 

12.3 The Borrower agrees that unless the Lender
receives a written notice from the Borrower about changing its postal address, the postal address filled in by the Borrower in this contract
is the address where the court will serve judicial documents and other written documents to the Borrower. The applicable scope of the
aforementioned service address includes, but is not limited to, civil litigation first instance, jurisdiction objection and reconsideration,
second instance, retrial, remand for retrial and execution procedures, etc. If the Borrower responds to the lawsuit and directly submits
the confirmation of the service address to the court, and if the confirmed address is inconsistent with the latest known postal address
of the Lender, the court has the right to serve according to the address on the confirmation of the service address.

 

During the settlement of this contract dispute,
the court may serve the judgment, ruling and conciliation statement to the Borrower in any of the following ways:

 

(1) For delivery by post (including express mail,
ordinary mail and registered mail), the date of receipt by the Borrower shall be regarded as the date of delivery;

 

(2) For delivery by special person, the date on
which the Borrower signs on the delivery receipt shall be regarded as the date of delivery.

 

If the court uses delivery by post (including express
mail, ordinary mail and registered mail), and if the Borrower fails to sign on the service receipt, or the postal address filled in by
the Borrower is inaccurate or actually changed, but the Lender does not receive the written notice from the Borrower about the change
of postal address, which leads to the rejection of the judgment, ruling and conciliation statement, the date when the statement is returned
shall be regarded as the date of delivery.

 

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If the court uses delivery by special person, and
if the Borrower fails to sign on the service receipt, the date on which the server records the situation on the service receipt on the
spot shall be regarded as the date of delivery.

 

Except for the judgment, ruling and conciliation
statement, the court has the right to make any notice to the Borrower by any means of communication agreed in Article 12.2. The court
has the right to choose the communication method it deems appropriate, and does not need to be responsible for transmission errors, omissions
or delays in postal, fax, telephone, telex or any other communication system. If the court chooses multiple modes of communication at
the same time, the one that arrives at the Borrower sooner shall prevail.

 

12.4 The agreement in this article belongs to the
independent dispute settlement clause in the contract. The invalidity, cancellation or termination of this contract will not affect the
validity of this clause.

 

▲▲Article 13 Information Disclosure and
Confidentiality

 

13.1 For the undisclosed information and materials
of the Borrower obtained and known during the signing and performance of this contract, the use of relevant information and materials
by the Lender (including but not limited to collection, storage, use, processing, transmission, provision, disclosure, etc.) shall not
violate laws, regulations and regulatory requirements; The Lender shall bear the responsibility of confidentiality according to law, and
shall not disclose such information and materials to a third party, except for the following situations:

 

(1) The disclosure is required by applicable laws
and regulations;

 

(2) The disclosure is required by judicial departments
or regulatory agencies according to law;

 

(3) When the Borrower fails to repay the loan principal
and/or pay interest in full and on time, the Lender needs to disclose to the Lender’s external professional consultant and allow the Lender’s
external professional consultant to use it on the basis of confidentiality in order to realize the claims under this contract;

 

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(4) Other acts are reasonably carried out to safeguard
public interests or legitimate rights and interests of the Borrower;

 

(5) The Borrower agrees or authorizes the Lender
to make disclosure.

 

13.2 The Borrower confirms to have signed the Power
of Attorney for Credit Information Inquiry and Provision. The Lender inquires, uses and saves the credit information of the Borrower within
the scope specified in the Power of Attorney.

 

13.3 In addition to the situations specified in
Articles 13.1 and 13.2 of this contract, the Borrower further agrees that Bank of Communications Co., Ltd. can use or disclose the Borrower’s
information and materials in the following situations, including but not limited to the Borrower’s basic information, credit transaction
information, bad information and other related information and materials, and is willing to bear all the consequences arising therefrom:

 

To disclose and allow business outsourcing institutions,
third-party service providers, other financial institutions and other institutions or individuals deemed necessary by the Lender, including
but not limited to other branches of Bank of Communications Co., Ltd., or wholly or partially owned subsidiaries of Bank of Communications
Co., Ltd., to use such information and materials on a confidential basis for the following purposes: 1 To carry out or be related
to bank credit business, such as promoting the credit business of Bank of Communications Co., Ltd., collecting the Borrower’s arrears,
transferring the creditor’s rights of bank credit business, etc.; 2 To provide or may provide new products or services or further
services for the Lender to the Borrower.

 

Whether Article 13.3 is applicable or not shall
be subject to the agreement of both parties in Article 24 of this contract.

 

Article 14 Applicable Law and Dispute Resolution

 

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This contract shall be governed by the laws of the
People’s Republic of China (excluding the laws of Hongkong, Macau and Taiwan for the purpose of this contract). Any dispute under this
contract shall be brought to the court with jurisdiction where the Lender is located unless otherwise agreed in this contract. During
the dispute, all parties should continue to perform the provisions that are not involved in the dispute.

 

Article 15 Entry into Force and Composition of Contract

 

15.1 This contract shall come into force after the
legal representative (person in charge) or authorized representative of the Borrower signs (or seals) with the official seal, and the
persons in charge or authorized representative of the Lender signs (or seals) with the special contract seal.

 

15.2 The Application for Use of Line of Credit signed
when using the line of credit under this contract and other relevant documents and materials are integral parts of this contract.

 

15.3 The Application for Use of Line of Credit is
a supplement to this contract. Unless otherwise agreed in the Application for Use of Line of Credit, the rights and obligations and related
matters between the Borrower and the Lender shall still be implemented according to the agreement of this contract.

 

Article 16 Specific Content of the Line of Credit

 

16.1
Currency of the line of credit: __________________; Amount in words: ____________________; It can be used in ☐RMB ☐_______
(foreign currency); The line of credit belongs to ☐revolving line of credit ☐lump-sum line of credit (can be used several
times) ☐lump-sum line of credit (only used once).

 

16.2 Purpose of the line of credit: ____________________________.

 

16.3 The term of credit is from ____________ (MM/DD/YYYY)
to ____________ (MM/DD/YYYY).

 

Article 17 Agreement on Interest Rate

 

If the loan currency is foreign currency, the relevant
agreements on the determination of interest rate, adjustment of interest rate and penalty interest rate for overdue and misappropriated
loans are as follows:

 

______________________________________________________________________

 

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Article 18 Account Agreement

 

18.1
The Borrower designates the following account as the loan account, and this account ☐is ☐is not a special loan issuing account
opened by the Borrower at the Lender. If both parties agree otherwise in the corresponding Application for Use of Line of Credit, the
agreement in the Application for Use of Line of Credit shall prevail.

 

Account Name:____________________________________________________

Account Number:__________________________________________________

Bank of Deposit:___________________________________________________

18.2 Designation of the Borrower:_____________________________________

(1) The repayment account is

Account Name:____________________________________________________

Account Number:__________________________________________________

Bank of Deposit:___________________________________________________

(2) The capital withdrawal account is:__________________________________

Account Name:____________________________________________________

Account Number:__________________________________________________

Bank of Deposit:___________________________________________________

 

Article 19 Specific Agreement on Loan Issuance,
Payment and Repayment

 

19.1
The term of each loan drawn under this contract shall not be longer than ______ ☐months ☐days, and the maturity date of all
loans shall not be later than ____________ (MM/DD/YYYY).

 

19.2 The independent payment line of credit under
this contract is RMB _______ ×10000 Yuan.

 

19.3 If one of the following conditions is met,
the method of the Lender’s entrusted payment shall be adopted:

________________________________________________________________________________________

                       ______________________________________________________________________________

 

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19.4 If the Borrower’s independent payment is adopted,
the Borrower shall report the payment of loan funds to the Lender within ___ days after the loan is issued.

 

Article 20 Financial Restrictions, External Agency
Rating and Production and Operation Qualification/License

 

20.1 The Borrower’s foreign investment line of credit
is RMB ______×10000 Yuan; The increase of debt financing line of credit is RMB ______×10000 Yuan.

 

20.2 Contract agreement on financial indicators
of the Borrower:

 

(1)_____________________________________________________________

(2) _____________________________________________________________

(3) _____________________________________________________________

 

20.3 Specific agreement on external agency rating:

 

(1)______________________________________________________________

(2) _____________________________________________________________

 

20.4 Specific agreement on the Borrower’s production
and operation qualification/license:

 

(1) _____________________________________________________________

(2) _____________________________________________________________

 

▲▲Article 21 Specific Agreement on Risk
Repricing

 

21.1 This contract adopts the following ____ risk
repricing method: (1) negotiated repricing; (2) raising the loan interest rate directly.

 

21.2 If the method of “raising the loan interest
rate directly” is adopted:

 

21.2.1
If the loan currency is RMB, the value of the interest rate plus (minus) points after the increase is: ☐no plus or minus point
☐plus ____ percentage points ☐minus ____ percentage points. Unless otherwise agreed in a loan, the value of the interest
rate plus (minus) points after the increase of the loan shall be subject to the records in the applicable application for use of line
of credit.

 

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21.2.2 If the loan currency is foreign currency,
the loan interest rate after the increase is: __________.

 

Article 22 Contact Information

 

The contact information of the Borrower to receive the notice
agreed in Article 12 includes:

 

Postal Address:____________________________________________________

Attn:____________________________________________________________

Postal Code:______________________________________________________

Tel.:_____________________________________________________________       

Mobile Phone:_____________________________________________________

Fax:_____________________________________________________________

Email:___________________________________________________________

 

Article 23 Copies of Contract

 

There are ____ originals of this contract, with
____ copies held by both parties and the guarantor (if any).

 

Article 24 Other Agreements

 

24.1
Both parties agree that this contract ☐is ☐is not applicable to Article 13.3.

_________________________________________________________________

_________________________________________________________________

_________________________________________________________________

_________________________________________________________________

 

Borrower:______________________________________________________________

 

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Legal Representative (Person in Charge): _____________________________________

Legal Address:__________________________________________________________

Lender: Bank of Communications Co., Ltd. __________ (Sub) Branch

Person in Charge:________________________________________________________

Postal Address:__________________________________________________________

 

	The Borrower has read through all the terms of the contract, and the Lender has made

 detailed explanations at the request of the Borrower. When signing the contract, the

 Borrower has no doubt or objection to all the contents, and understands the meaning and 

legal consequences of the terms of the contract, especially those marked with ▲▲.

 

(This page is for signatures of the Working Capital Loan Contract and
is intentionally left blank)

 

 

 

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