Document:

Exhibit 10.11

 

	
        Stamp: Chaoyang District, Local Taxation Bureau of Beijing

         Dedicated stamp for stamp duty No. 03

         Tax
paid: ¥1500

         Tax payment certificate No.: 0001725924

         Tax payment date: Mar. 4, 2014

  

Lease Contract

 

Lessor (Party A): Hongzhang Zhao

 

Lessee (Party B): Rider Sportsfashion Limited

 

In accordance with the regulations of “Contract
Law of the People’s Republic of China” and other relevant laws, and in reference to the Land Lease Contract and Supplementary
Agreement executed by the village committee of Liersi Village in Zhangjiawan Town, Tongzhou District, Beijing, and Li Zhixue, both
parties hereto, on the basis of principles of equality, voluntariness, and consensus, have reached the following agreement in respect
of Party B renting plants from Party A:

 

I. Subject of the contract 

 

The subject
referred to herein is located at the industrial zone in Liersi Village, Zhangjiawan Town, Tongzhou District, Beijing, which covers
8 mu(1 mu=666 m2),
including 2 industrial plants, 1 office building, 21 bungalows for living and auxiliary space. See the schedule attached for the
concrete locations and sizes.

 

II. Term of the lease

 

The term of the lease is three years (from July 1,
2014 to June 30, 2017)

 

III. Rent, mode of payment, and payment schedule:

 

1. The annual rent of the said plant is RMB 500,000
yuan, and the rent remains unchanged for three years.

 

2. The time of payment by Party B: in two installments
annually; payment is made to Party A before July 15 and January 15, respectively.

 

3. Mode of payment: Check

 

IV. Property management 

 

1. The factories, office buildings, and living quarters
leased by Party B from Party A shall be equipped with water, electricity, heating and other facilities. After the delivery, Party
B can make transformation as needed after it has been agreed by and filed with Party A, with the costs borne by Party B.

 

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2. The production and office equipment purchased by
Party B during the term of lease belong to Party B; Party B is entitled to dispose of the equipment upon the expiry of the lease,
provided that no damage is caused to the housing structure. Party B is responsible for the repair and restoration in case of damage.

 

3. If there is a change of intended use of the housing
or decoration and renovation during the term of the lease, Party B shall serve a prior notice to Party A for consent. The renovation
can only be implemented after Party A gives written confirmation. Upon the expiration of the lease, Party A may keep the decoration
part for free.

 

4. During the term of this lease, Party A will not
engage a property management company for management. Party B is responsible for the normal repair and maintenance of the subject
under this contract. The housing and facilities maintenance (such as housing leaks, cracks, deformation or settlement) not attributed
to Party B shall be borne by Party A. Party A shall provide active assistance and cooperation.

 

V. Rights and obligations of Party A:

 

1. Party A delivers the leased plant to Party B for
use on the date and based on standards stipulated herein.

 

2. Party A is entitled to charge rent pursuant to this
contract.

 

3. Party A is entitled to inspect the status of the
plant rented by Party B, who shall provide convenience for the inspection by Party A. In case of improper use by Party B, Party
A is entitled to make criticism and provide opinions for improvement.

 

4. Party A shall ensure that during the term of the
lease, the rented housing complies with the relevant laws and building codes and standards, and ensure the safety of building structure
of the subject herein under the condition of reasonable use.

 

5. Party A shall ensure that the ownership of the subject
belongs to Party A during the term of the lease.

 

6. Prior to the delivery of the subject, Party A is
obliged to cooperate with Party B in improving the necessary facilities for living and production, including electricity and water
supply facilities.

 

7. If this lease contract shall be terminated due to
the changes in land use rights (such as requisition by the state or relocation) during the term of the lease, the state and government
compensation for the buildings belongs to Party A, while the compensation for full economic losses of enterprises belongs to Party
B. Party A shall refund the rent to Party B on the basis of actual number of months of rental. If the lease contract is needed
to be terminated due to the change of land use rights before_________ (date), Party A shall, before Party B moving out of the rented
housing, additionally pay an amount equal to 30% of the annual rent to Party B as the compensation for equipment and facilities
investment and the compensation for suspension of operations.

 

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8. During the term of the lease, Party B is not allowed
to transform or change the purpose of the rented plant and the buildings attached thereto without the consent of Party A.

 

9. During the term of the lease, Party A is not allowed
to unilaterally terminate this contract and take back the said housing.

 

10. Party A must furnish to Party B the housing rental
invoice issued by the local taxation authority within 30 days upon receiving the rent.

 

VI. Rights and obligations of Party B 

 

1. Party B shall pay rent on time and assume stamp
duty attributed to Party B.

 

2. Party B shall bear the fees for water, electricity,
and heating, etc. on his own during the term of the lease.

 

3. Before moving into the rented housing, Party B shall
inspect the quality and safety of housing as well as the reasonableness and safety of supporting facilities.

 

4. Part B must engage in operations according to the
law and take measures against fire and theft. If Party A or the both parties hereto incur property loss due to Party B’s
reasons, Party B shall bear liability and provide corresponding compensation to Party A.

 

5. In order that the plant will be run in order during
the term of the lease, Party B shall carry out normal maintenance and repair of the plant.

 

6. Party B is entitled to sublet the rented plant or
seek co-tenant during the term of the lease, provided that it must be filed with Party A.

 

7. Party B shall not under any condition indicate,
either expressly or implicitly, to a third party that it has ownership or right of disposal of the rented subject, nor shall Party
B mortgage the rented subject. Should Party B get involved in disputes about debts or bankruptcy, Party B shall clearly state that
the rented subject is unrelated to the debts of Party B.

 

8. At the expiration of the lease, Party B has the
priority to renew the lease contract under the same conditions. The terms and conditions including the period of renewal, rent,
and mode of payment shall be confirmed by both parties through negotiation within three months before the expiration of the contract,
and the renewed lease contract will be signed separately.

 

9. Party B must give a three-month prior notice to
Party A if it needs to terminate this contract due to its own reasons during the term of the lease.

 

10. If Party B will not renew the lease upon the expiration
of the lease, Party B shall move all the articles and goods out of the rented subject within thirty days. Failure to move the goods
out within thirty days is deemed as a waiver of ownership by Party B, and Party A is entitled to dispose of the remainder goods.

 

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VII. Liability for breach of contract:

 

1. Party A shall, as from the date of execution of
the contract, deliver the workshops, offices, living areas, roads and related facilities (including supporting facilities required
by Party B) to Party B for use. The term of the lease commences only when the representatives of Party B have conducted the acceptance
inspection of all equipment and facilities. Party A is not liable if the delivery is overdue for 15 days. If it is overdue for
more than 15 days, Party A shall pay to Party B the liquidated damages amounting to 3‰ of the annual rent for each overdue
day.

 

2. If Party B fails to pay the rent timely, Party B
shall pay Party A the liquidated damages amounting to 1‰ of the annual rent for each overdue day.

 

3. Party A will be deemed to breach the contract if
he terminates the contract without consultation with Party B. The defaulting party shall pay the observant party the liquidated
damages amounting to 10% of the annual rent, and the observant party is entitled to terminate the contract.

 

VIII. Exemption conditions:

 

Neither party is liable to the other party if the loss
is caused to the plant by force, including flood, earthquake, and wars, etc.

 

IX. Dispute resolution:

 

1. Any disputes arising from the performance of the
contract by the parties hereto shall be settled through friendly negotiation. In case of failure of negotiation, either party may
file a lawsuit to the people’s court at the place where the real estate is located.

 

X. This contract is made out in duplicate, with each
party holding one copy with the same legal effect. The contract becomes effective on the date of execution by both parties hereto.

 

	 	/s/ Hongzhang Zhao	 	 	 
	Lessor:	
        Hongzhang Zhao
	 	Lessee: Rider Sportsfashion Limited (Seal)

	Date:	Feb. 25, 2014	 	Date:	Feb. 25, 2014

  

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Plan of the factory zone

 

Area: 3773.3 m2

 

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Supplementary Agreement

 

1. The land lease contract concluded between the village
committee of Liersi Village in Zhangjiawan Town, Tongzhou District, Beijing and Li Zhixue is assigned to a third party, Zhao Hongzhang
for development and use through mutual agreement. Zhao Hongzhang replaces Li Zhixue as the legal representative.

 

2. There is the land with an area of 2.4 under the
high-voltage power lines to the east of the land under this contract. On the condition of meeting the power needs, a piece of land
equivalent to 1.2 is for the development and use by Zhao Hongzhang. The clauses of the lease contract have the same effect as this
contract.

 

Party A: village committee of Liersi Village
in Zhangjiawan Town, Tongzhou District, Beijing

 

	Legal
    representative:	 	 

 

 

Stamp: village committee of Liersi Village in Zhangjiawan
Town, Tongzhou District, Beijing

 

	Party B:	/s/ Zhixue Li	
	 	Zhixue Li	 
	 	 	 
	Third party:	/s/ Hongzhang Zhao	 
	 	Hongzhang Zhao	 

 

 

Date:

 

 

6Exhibit 10.12

Lease Agreement

Lessor (Party A): Songxiang Zhou, 132822196408153538

Lessee (Party B): Rider Sportsfashion
Limited

This Agreement is made and entered into
by and between Party A and Party B in respect of Party B renting the property from Party A on the basis of equality, voluntariness
and consensus pursuant to the Contract Law of the People’s Republic of China and relevant laws and regulations:

I. Subject of the contract

1. The subject referred to herein is
located at Dadongguan Section, Changtan Road, Qigezhuang Village, Dachang Hui Autonomous Prefecture, covering an area of 7 mu
(1 mu = 666m2). It includes the five-story complex building of ​​5304.88 square meters in the north and the
auxiliary land of the dormitory of 30 meters long and 23 meters wide in the east. It is available for the use of Party B. See the
annex for the specific location and size.

2. The dormitory building in the east
covers an area of ​​about 669.60 square meters. It is currently being planned and the construction is not commenced
yet.

II. Lease period

1. The lease period is 10 years, from
November 30, 2016 to November 30, 2026. If it is not completed due to the reason of Party A, the beginning date is the date when
Party A completes the work and the property reaches the conditions for the settlement of Party B.

2. The second item of dormitory of 669.6
square meters under the contract is available for settlement in no later than June 2017, and the rent is calculated as from the
actual delivery date.

III. Rent, mode of payment, and date
of payment:

1. Annual rent

A. Dec. 2016 – Dec. 2019: RMB
​​0.36 per square meter per day according to the building area; the rent remains unchanged for three years.

B. Dec. 2019 – Dec. 2022: RMB
​​0.36 per square meter per day according to the building area; Party A and Party B may revise the rent upward or downward
by 3% per square meter per day according to the market situation through negotiation; the rent remains unchanged for three years.

C. Dec. 2022 – Dec. 2026: RMB
​​0.36 per square meter per day according to the building area; Party A and Party B may revise the rent upward or downward
by 3% per square meter per day based on the prior range according to the market situation through negotiation; the rent remains
unchanged for four years.

2. The rent is payable semiannually
on November 30 and June 30.

    	 		 

     

    

3. Mode of payment: settlement by check
or wire.

IV. Property management:

1. The property leased by Party A to
Party B should be equipped with water, electricity, heating and other facilities. If Party B needs to make transformation after
delivery, Party B needs to report for approval and file the scheme with Party A, with the costs borne by Party B.

2. The production and office supplies
purchased by Party B during the lease period shall be owned by Party B; after the expiry of the lease, Party B shall have the right
of disposal, save that Party B shall not damage the structure of the property. Party B shall be responsible for repairing and restoring
the property to the original condition in case of the damage.

3. If Party B changes the purpose of
the property and makes renovation during the lease period, Party B shall report it to Party A for approval and can only carry out
the renovation with the confirmation of Party A. After the expiration of the contract period, the decoration will be left to Party
A free of charge.

4. Party A does not place the management
under the property management company during the lease period. Party B is in charge of the maintenance and custody of the subject
matter during the normal scope. Party A is responsible for the maintenance of the premises and facilities (such as leakage, cracks,
deformation or settlement) not attributed to the reasons of Party B. Party A should offer active cooperation.

V. Rights and obligations of Party A:

1. Party A shall, according to the time
and standard stipulated in the contract, hand over the rented property to Party B for use.

2. Party A has the right to receive
rent according to the contract.

3. Party A has the right to inspect
the use of the property rented by Party B, and Party B shall cooperate with Party A in the inspection. For the improper use by
Party B, Party A shall have the right to make criticism and raise opinions for improvement.

4. During the lease period, Party A
shall guarantee that the leased property complies with the relevant legal codes and standards on building and, in the case of reasonable
use, ensure the safety of architectural structure of the subject matter.

5. Party A shall guarantee that the
ownership of the subject matter belongs to Party A during the lease period.

6. Prior to the delivery of the subject
matter for use, Party A is obliged to cooperate with Party B in improving necessary facilities for production and living such as
electricity and water.

7. If the changes in land use rights
(such as expropriation of land or relocation by the state) necessitate the termination of the lease contract during the lease period,
the state and the governmental compensation for buildings belongs to Party A, and the compensation for all economic losses for
the enterprise belongs to Party B. Party A shall return the rent to Party B according to the number of months for use. If change
of land use right necessitates the termination of the lease contract prior or __________, Party A shall pay an additional 30% of
annual rent as the equipment investment compensation and shutdown compensation for Party B before Party B moves out of the said
leased premises.

    	 	2	 

     

    

8. Party A shall not change the purpose
of the leased premises and the corresponding land during the lease period without the consent of Party B.

9. During the lease period, Party A
shall not terminate the contract and recover the room ahead of schedule without permission.

10. Party A must provide formal rent
invoice for Party B within 30 days upon receiving the rent each time, with taxes and fees borne by Party A.

11. Party A is responsible for handling
procedures for the examination and acceptance of firefighting facilities and environmental protection in production, with the relevant
costs borne by Party A.

VI. Rights and obligations of Party
B:

1. Party B shall pay the rent on time.

2. Party B solely bears the costs for
water, electricity, and heating, etc. during the lease period.

3. Party B should inspect the quality
and safety performance of the subject matter and the safety and soundness of the supporting facilities before moving into the premises.

4. Party B must engage in operations
according to the law and make precautions against fire and burglary. If Party A or both parties incurs property damage due to the
reasons of Party B, Party B bears the responsibility and indemnifies Party A against the corresponding loss.

5. In order to ensure the normal use
of the factory during the lease, Party B should maintain normal maintenance and repair of the plant.

6. Party B has the right to sublease
the property or look for co-rent or partners during the lease period, save that this must be filed with Party A for the record.

7. In any case, Party B shall not state
to a third party, expressly or implicitly, that Party B has the right of ownership or disposal over the subject matter rented,
nor mortgage the subject matter. In the event that Party B is involved in the disputes of creditor’s rights and debts or
goes bankrupt, Party B shall clearly state that the subject matter of the lease is not related to the creditor’s rights and
debts of Party B.

8. After the expiration of the lease
term, Party B shall have the right of priority in renewal under the same conditions. The terms such as lease term, rent and mode
of payment shall be negotiated and confirmed by both parties hereto within three months before the expiration of the contract,
and the lease contract is separately signed.

    	 	3	 

     

    

9. If, during the lease period, Party
B needs to terminate the contract in advance due to their own reasons, Party B must notify Party A three months in advance before
cancelling the contract.

10. If Party B does not renew the contract
at the expiry of the lease, Party B shall remove all items from the said property within thirty days. If the remaining goods are
not disposed of within thirty days, it is deemed that Party B waives the ownership and Party A has the right to make disposal.

VII. Liability for breach of contract:

1. Party A shall deliver the property,
roads and relevant supporting facilities (including the supporting facilities required by Party B) to Party B from the date of
signing of the contract, and the lease period starts from the date after the representative of Party B has examined and accepted
all equipment and facilities. Party A is not liable for breach of contract if it is overdue within 15 days. If it is overdue for
more than 15 days, Party A shall pay to Party B the liquidated damages amounting to 0.3% of the annual rent for each overdue day.

2. If Party B falls into arrears with
the rent, Party B shall pay to Party A the liquidated damages amounting to 0.1% of the annual rent for each overdue day.

3. Party A terminates the contract ahead
of schedule without consultation with Party B is deemed as the breach of the contract, and the defaulting party shall pay to the
observing party the liquidated damages amounting to 10% of the annual rent and the observing party shall have the right to terminate
the contract.

VIII. Liability exemption condition:

Neither party is held responsible to
the other party if the property is damaged due to the force majeure events such as floods, earthquakes, or war.

IX. Dispute resolution:

1. Any dispute arising from the performance
of this contract should be resolved by the two parties through friendly consultations. If the negotiation fails, either party may
take legal proceedings at the people’s court at the place where the real estate is located.

X. The original of this contract is
made out in duplicate. Each party holds one copy of the same legal effect which enters into force as from the date of signing by
both parties.

	Lessor:	 	Lessee: Rider Sportsfashion Limited
        (Seal)
	 	 	 
	/s/ Songxiang Zhou	 	Date: October 18, 2016
	Songxiang Zhou	 	 
	 	 	 
	Date: October 18, 2016	 	 

 

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