Document:

Exhibit 4.11

 

BUSINESS COOPERATION AGREEMENT

 

This Business Cooperation
Agreement (the “Agreement”) is entered into in Shanghai as of ,

 

May 13 ,2015
by and among the following parties:

 

		(1)	Shanghai Zhongming Supply Chain Management Co., Ltd. (the “ Zhongming”),
a wholly foreign-owned enterprise registered in Shanghai, the People’s Republic of China (“China” or “PRC”),
under the laws of China;

 

		(2)	Shanghai Zhongmin Supply Chain Management Co., Ltd. (the “Zhongmin”), a
                                                           domestic company registered in Shanghai, China, under the laws of China; and

 

		(3)	Each of the persons listed under Schedule 1 (“Shareholder”)

 

(Each of the Zhongming,
Zhongmin and the Shareholder ,a “Party”, and collectively the “Parties”).

 

RECITALS

 

		(1)	WHEREAS, the Zhongming has entered into a Master Exclusive Service Agreement (the “Service
Agreement”) dated May 13 , 2015 with Zhongmin, pursuant to which the Zhongming is entitled to receive service
fees from Zhongmin; and

 

		(2)	WHEREAS, the Shareholders hold 100% equity interests in Zhongmin.

 

NOW, THEREFORE,
in consideration of the premises and the representations, warranties, covenants and agreements herein contained, and intending
to be legally bound hereby, the Parties hereby agree as follows:

 

AGREEMENT

 

		1.	Negative Covenants

 

To ensure that
Zhongmin perform its obligations under the Service Agreement and/or other agreements executed with the Zhongming, the Shareholders
and Zhongmin jointly and severally, agree and covenant that, without obtaining the Zhongming’s written consent, Zhongmin
shall not, and the Shareholders shall cause Zhongmin not to, engage in any transaction which may materially affect its asset, obligation,
right or operation, including but not limited to:

 

		(a)	any activities not within its normal business scope, or operating its business in a way that is
inconsistent with its past practice;

 

		(b)	merger, reorganization, establishing an associated entity with any third party, acquired, controlled
by any third party, or restructuring of its principal business or assets, or acquisition or investment in any other form;

 

		(c)	offering any loan to any third party, incurring any debt from any third party, or assuming any
debt other than in the ordinary course of business;

 

		(d)	engaging, changing or dismissing any director or any senior management officer;

 

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		(e)	selling to or acquiring from any third party, mortgaging, licensing or disposing of in other ways
tangible or intangible assets, other than in the ordinary course of business;

 

		(f)	incurring, inheriting, assuming any debt that are not incurred during the ordinary course of business,
using its assets to provide security or other forms of guarantees to any third party, or setting up any other encumbrances over
its assets;

 

		(g)	making any supplement, amendment or alternation to its articles of association and bylaws, increasing
or decreasing of its registered capital or changing the structure of its registered capital in other manners;

 

		(h)	making distribution of dividend, rights and interests in equity interests or shareholding interest
in whatever ways, provided that upon the Zhongming’s written request, Zhongmin shall immediately distribute part or all distributable
profits to its shareholder(s) who shall in turn immediately and unconditionally pay or transfer to the Zhongming any such distribution;

 

		(i)	executing any material contract, except the contracts executed in the ordinary course of business
(for purpose of this subsection, the Zhongming may define a material contract at its sole discretion);

 

		(j)	Selling, transferring, mortgaging or disposing of in any manner any legal or beneficial interest
in its business or revenues, or allowing the encumbrance thereon of any security interest;

 

		(k)	dissolution, conducting liquidation and distributing the residual assets; or

 

		(l)	Causing any of its branches or subsidiaries to engage in any of the foregoing or enter into any
contract, agreement or other legal documents which may lead to or result in any of the foregoing.

 

		2.	Business Operation and Personnel Arrangement

 

		2.1	Zhongmin and the Shareholders agree and covenant to the Zhongming that Zhongmin shall, and the
Shareholders shall cause Zhongmin to, i) accept suggestions raised by the Zhongming over the employee engagement and replacement,
daily operation, dividend distribution and financial management systems of Zhongmin, and Zhongmin shall strictly abide by and perform
accordingly; ii) maintain Zhongmin’s corporate existence in accordance with good financial and business standards and practices
by prudently and effectively operating its business and handling its affairs; iii) operate all of Zhongmin’s businesses during
the ordinary course of business to maintain the asset value of Zhongmin and refrain from any action/omission that may adversely
affect Zhongmin’s operating status and asset value; iv) provide the Zhongming with information on Zhongmin’s business
operations and financial condition at Zhongming’s request; v) if requested by the Zhongming, procure and maintain insurance
in respect of Zhongmin’s assets and business from an insurance carrier acceptable to the Zhongming, at an amount and type
of coverage typical for companies that operate similar businesses; vi) immediately notify the Zhongming of the occurrence or possible
occurrence of any litigation, arbitration or administrative proceedings relating to Zhongmin’s assets, business or revenue;
and vii) execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate
complaints or raise necessary and appropriate defenses against all claims so as to maintain the ownership by Zhongmin of all of
its assets; viii) give the Zhongming the custody of Zhongmin’s important licenses and seals, including but not limited to
business license, contract chop, finance chop and legal person chop; (ix) hold permits, licenses, authorizations, approvals that
are necessary for the operation of its business and shall ensure the continuing effectiveness of such permits, licenses, authorizations
and approvals during the term of this agreement; (x) timely notify the Zhongming of any situation that may have a material negative
impact on its business or operation, and do its best to avoid the occurrence of such situation, and take appropriate measures to
prevent further losses; and (xii) provide the Zhongming any technology or other information that the Zhongming think is important
for the performance of the service under this Agreement, and shall permit the Zhongming to use such technology and information.

 

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		2.2	The Shareholders further undertake that, during the term of this Agreement, (i) unless otherwise
agreed by the Zhongming in written form, the Shareholders will not directly or indirectly (by the Shareholders or by entrusting
any other natural person or legal entity) to engage in, own or acquire (as shareholder, partner, agent, employee or under any other
circumstances) any business that competes or might compete with the business of Zhongmin or its affiliated companies or to have
any interest in such business; (ii) none of the Shareholders’ actions or omissions will give rise to conflict of interest
between the Shareholders and the Zhongming (including but not limited to the shareholders of the Zhongming); and (iii) in the event
of any such conflict described in paragraph (ii), which shall be decided at the sole discretion of the Zhongming, the Shareholders
will take any action as instructed by the Zhongming to eliminate such conflict provided such action is compliant with PRC laws.

 

		2.3	The Shareholders shall only appoint persons designated by the Zhongming to be the directors of
Zhongmin in accordance with the procedures required by laws, regulations and relevant articles of association. Zhongmin shall cause
the persons designated by the Zhongming to be the general manager, chief financial officer and other senior management members
of Zhongmin.

 

		2.4	If any of the above directors or senior management members designated by the Zhongming resigns
from the relevant position or is dismissed at the request of the Zhongming, the Shareholders or Zhongmin, as the case may be, shall
dismiss such person from Zhongmin upon the Zhongming’s request, and shall appoint any other person designated by the Zhongming
to hold such position.

 

		2.5	Zhongmin together with its Shareholders hereby jointly and severally covenant to and agree with
the Zhongming that Zhongmin shall seek appropriate approval from the Zhongming prior to entering into any material contract in
accordance with relevant internal approval policy of Zhongmin.

 

		2.6	As part of the cooperation between the Parties, Zhongmin agrees to fund the Zhongming or its subsidiaries
in form of entrusted loan or interest-free loan, the details of which shall be set forth in written agreement.

 

		3.	Other Arrangements

 

Given (i) that
the business relationship between the Zhongming (together with its affiliates) and Zhongmin has been established through the Service
Agreement and (ii) that the daily business activities of Zhongmin will have a material impact on Zhongmin’s ability to pay
the payables to the Zhongming or its affiliates, the Shareholders agree that, unless required by the Zhongming:

 

		(a)	They shall not put forward, or vote in favor of, any shareholder resolution to, or otherwise request
Zhongmin to, distribute any profits, funds, assets or property to the Shareholders of Zhongmin; and

 

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		(b)	They shall not put forward, or vote in favor of, any shareholder resolution to, or otherwise request
Zhongmin to, issue any dividends or other distributions with respect to the equity interests of Zhongmin held by the Shareholders;
provided, however, if any dividends or other distributions are distributed to the Shareholders by Zhongmin, the Shareholders shall
immediately and unconditionally pay or transfer to the Zhongming any and all dividends or other distributions in whatsoever form
obtained from Zhongmin as shareholders of Zhongmin at the time such distributions arise, and the Shareholders shall bear any and
all taxes and fees with respect to such transfer of dividends and distributions to the Zhongming (including the taxes and fees
imposed on the Zhongming) in the event such dividends or distributions are paid to the Shareholders without the Zhongming’s
prior written consent.

 

		4.	Assignments

 

The Shareholders
and Zhongmin shall not assign their respective rights and obligations under this Agreement to any third party without the prior
written consent of the Zhongming. The Shareholders and Zhongmin hereby jointly agree that the Zhongming may assign its rights and
obligations under this Agreement as the Zhongming may decide at its sole discretion and such transfer shall only be subject to
a written notice sent to Zhongmin and the Shareholders.

 

Rights and
obligations under this Agreement shall be legally binding upon any assignees, successors, spouse, guardians and creditors of the
Parties hereof or any other person that may be entitled to assume rights and interests in the equity interests of Zhongmin, no
matter such assignment of obligations and rights is caused by takeover, restructuring, succession, assignment, death, incapacity,
bankruptcy, divorce or any other reason.

 

		5.	Entire Agreement and Amendment to Agreement

 

		5.1	This Agreement and all agreements and/or documents mentioned or included explicitly by this Agreement
constitute the complete agreement with respect to the subject matter of this Agreement and shall supersede any and all prior oral
agreements, contracts, understandings and communications made by the Parties with respect to the subject matter of this Agreement.

 

		5.2	Any modification of this Agreement shall be made in a written form and shall only become effective
upon execution by all Parties of this Agreement. Modifications and supplements to this Agreement duly executed by the Parties shall
be parts of this Agreement and shall have the same legal effect as this Agreement.

 

		5.3	In the event that The Stock Exchange of Hong Kong Limited or other supervision and administration
institution provides any comments to this Agreement, or upon any changes to the Rules Governing the Listing of Securities on The
Stock Exchange of Hong Kong Limited or relevant requirements where they relate to this Agreement, the Parties shall amend this
Agreement accordingly.

 

		6.	Governing Law

 

This Agreement shall be construed
in accordance with and governed by the laws of China.

 

		7.	Dispute Resolution

 

Any dispute or claim arising
out of or in connection with or relating to this Agreement shall be resolved by the Parties in good faith through negotiations.
In case no resolution can be reached by the Parties, such dispute shall be submitted to the Shanghai International Economic and
Trade Arbitration Commission for arbitration in accordance with its rules of arbitration in effect at the time of applying for
such arbitration and the place of arbitration shall be in Shanghai. The arbitral tribunal or the arbitrators shall have the authority
to award any remedy or relief in accordance with the terms of this Agreement and applicable PRC laws, including provisional and
permanent injunctive relief (such as injunctive relief with respect to the conduct of business or to compel the transfer of assets),
specific performance of any obligation created hereunder, remedies over the equity interests or land assets of Zhongmin and winding
up orders against Zhongmin. The arbitral award shall be final and binding upon all Parties.

 

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To the extent permitted under
applicable PRC laws, each of the Parties shall have the right to seek interim injunctive relief or other interim relief from a
court of competent jurisdiction in support of the arbitration when formation of the arbitral tribunal is pending or under appropriate
circumstances. For this purpose, the Parties agree that, to the extent not against applicable laws, the courts of Hong Kong, the
courts of the Cayman Islands, the courts of PRC and the courts of the places where the principal assets of Zhongmin are located,
shall all be deemed to have jurisdiction.

 

		8.	Indemnities and Remedies

 

		8.1	Either Party shall forthwith on demand indemnify the other Party against any claim, loss, liability
or damage (“Loss”) which such Party shall incur as a consequence of any breach by the other Party of this Agreement
provided that neither Party shall be liable to indemnify the other Party for any Loss to the extent that such Loss arises from
the willful misconduct, breach of applicable law, regulation or contractual obligation or from the material negligence of the other
Party or its directors, officers, employees, or agents.

 

		8.2	The Parties agree that this section shall remain survive
the termination or expiration of this Agreement.

 

		9.	Effective Date and Term

 

		9.1	This Agreement shall be signed and take effect as of the date first set forth above.

 

		9.2	This Agreement shall remain effective as long as Zhongmin exists unless terminated as provided
in Section 10.

 

		10.	Termination

 

		10.1	Neither of the Shareholders and Zhongmin shall have the right to terminate this Agreement. This
Agreement shall be terminated i) by the Zhongming at any time with thirty (30) days advance written notice to Zhongmin and the
Shareholders; or ii) upon the transfer of all the equity interests held by the Shareholders to the Zhongming and/or a third party
designated by the Zhongming pursuant to the Exclusive Option Agreement.

 

		11.	Notices

 

		11.1	Notices or other communications required to be given by any party pursuant to this Agreement shall
be written in English and Chinese and delivered personally or sent by registered mail or postage prepaid mail or by a recognized
courier service or by facsimile transmission to the address of each relevant party as specified by such party from time to time.
The date when a notice is deemed to be duly served shall be determined as follows: (a) a notice delivered personally is deemed
duly served upon delivery; (b) a notice sent by mail is deemed duly served on the tenth (10th) day after the date when the postage
prepaid registered airmail is posted (as evidenced by the postmark), or on the fourth (4th) day after the date when the notice
is delivered to an internationally-recognized courier service agency; and (c) a notice sent by facsimile transmission is deemed
duly served upon receipt as evidenced by the time shown in the transmission confirmation for the relevant documents.

 

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		12.	Severability

 

If any provision of this Agreement
is judged to be invalid or unenforceable because it is inconsistent with applicable laws, such invalidity or unenforceability shall
be only with respect to such laws, and the validity, legality and enforceability of the other provisions hereof shall not be affected.

 

		13.	Counterparts

 

This Agreement shall be executed
in eight originals by all Parties, with each of the Zhongming, the Shareholders, and Zhongmin holding one original. All originals
shall have the same legal effect. The Agreement may be executed in one or more counterparts.

 

		14.	Languages

 

Both English and Chinese language
versions of this Agreement shall have equal validity. In case of any discrepancy between the English version and the Chinese version,
the Chinese version shall prevail.

 

[Signature Pages Follow]

 

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IN WITNESS WHEREOF, the Parties have duly
executed this Agreement on the date appearing at the head hereof.

 

Shanghai Zhongming Supply Chain Management
Co.,Ltd.

Authorized Representative:

 

	Signature: 	/s/Shanghai Zhongming Supply Chain Management Co.,Ltd. 	 
	Seal: (Seal) 	 
	 	 
	Shanghai Zhongmin Supply Chain Management Co., Ltd.	 
	Authorized Representative: 	 
	 	 	 
	Signature: 	/s/Shanghai Zhongmin Supply Chain Management Co., Ltd.	 
	Seal: (Seal) 	 
	 	 
	Shanghai Zhongmin Investment and Development Co., Ltd.	 
	Authorized Representative: 	 
	 	 	 
	Signature: 	/s/Shanghai Zhongmin Investment and Development Co., Ltd.	 
	Seal: (Seal) 	 

 

     

     

    

 

Schedule
1

Shareholders

 

	No.	 	Name	 	ID / No.
	1.	 	
        Shanghai Zhongmin

        Investment and

        Development Co.,Ltd.Exhibit
4.12

 

EXCLUSIVE
OPTION AGREEMENT

 

This Exclusive Option
Agreement (this “Agreement”) is entered into in Shanghai as of  May 13, 2015 by and among the following
parties:

 

		(1)	Shanghai Zhongming Supply China Management Co., Ltd. (the “Zhongming”),
a wholly foreign-owned enterprise registered in Shanghai, the People’s Republic of China (“China” or “PRC”),
under the laws of China;

 

		(2)	Shanghai Zhongmin Supply Chain Management Co., Ltd. (“Zhongmin”), a domestic
company registered in Shanghai, China under the laws of China; and

 

		(3)	Company listed under Schedule 1 (“Shareholders”)

 

(Each of Zhongming, Zhongmin
and the Shareholder, a “Party”, and collectively the “Parties”).

 

RECITALS

 

		(A)	WHEREAS, the Shareholders hold 100% equity interests in Zhongmin;

 

		(B)	WHEREAS, the Zhongming and Zhongmin entered into a master exclusive service agreement dated
on  May 13 , 2015;

 

		(C)	WHEREAS, the Zhongming, Zhongmin and the Shareholders entered into a business cooperation
agreement dated  May 13 , 2015;

 

		(D)	WHEREAS, the Zhongming, Zhongmin and the Shareholders entered into an equity interests pledge
agreement on May 13 , 2015 (the "Equity Interests Pledge Agreement");

 

		(E)	WHEREAS, as the consideration for the Zhongming and its affiliates to provide Zhongmin with
services necessary for their business operation, the Zhongming has requested the Shareholders to grant the Zhongming an exclusive
option through this Agreement which can be exercised by the Zhongming or the Zhongming's designee, and the Shareholders have agreed
to grant such exclusive option to purchase all or part of the equity interests held by the Shareholders in Zhongmin.

 

		(F)	NOW, THEREFORE, in consideration of the premises and the representations, warranties, covenants
and agreements herein contained, and intending to be legally bound hereby, the Parties hereby agree as follows:

 

AGREEMENT 

 

		1.	Target Equity Interests

 

		1.1	Under the following circumstances, the Zhongming shall have the right to require the Shareholders
to transfer any and all of the equity interests of Zhongmin the Shareholders hold (the “Target Equity Interests”)
to the Zhongming and/or a third party designated by the Zhongming (the “Designee”), in whole or in part, subject
to the Zhongming’s specific requirements (the “Equity Interests Transfer Option”), and the Shareholders
shall transfer the Target Equity Interests to the Zhongming and/or its Designee in accordance with the Zhongming’s requirements,
except the Zhongming and/or its Designee, the Shareholders shall not grant the Equity Interests Transfer Option to any other third
parties.

 

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		1.1.1	Where the Zhongming and/or its Designee can legally own all or part of the Target Equity Interests
under the laws and administrative regulations of China; and

 

		1.1.2	Any other circumstances deemed as appropriate or necessary by the Zhongming in its sole discretion.

 

		1.2	Subject to the Provision 1.1 above, The Zhongming shall have the right to exercise its Equity Interests
Transfer Option and to acquire the Target Equity Interests in whole or in part without any limit at any time and from time to time.

 

		1.3	The Zhongming may designate its Designee to exercise its Equity Interests Transfer Option to acquire
the Target Equity Interests in whole or in part and the Shareholders shall not refuse and shall transfer the Target Equity Interests
in whole or in part to such Designee as requested by the Zhongming.

 

		1.4	Prior to the transfer of all the Target Equity Interests to the Zhongming or its Designee according
to this Agreement, the Shareholders shall not transfer the Target Equity Interests to any third party without the Zhongming’s
prior written consent.

 

		2.	Procedures

 

		2.1	In the event that the Zhongming decides to exercise the Equity Interests Transfer Option, it shall
send written notice to Zhongmin and the Shareholders which specifies the proportion of the Target Equity Interests to be acquired
and identifies the transferee (the “Equity Interests Purchase Notice”). Within seven days after the date of
Equity Interests Purchase Notice, the Shareholders shall execute and deliver to the Zhongming the Equity Interests Transfer Agreement
in the format set forth in Schedule 2 attached hereto.

 

		2.2	If the Zhongming decides to exercise the Equity Interests Transfer Option pursuant to Section 1.1
hereinabove, in accordance with the requirements of the Zhongming, Zhongmin and the Shareholders shall furnish all materials and
documents necessary for the registration of said equity interests transfer within seven days after the date of Equity Interests
Purchase Notice;

 

		2.3	If at the time of exercising the Equity Interests Transfer Option, more than one Shareholder hold
equity interests in Zhongmin, each Shareholder that transfers the Target Equity Interests and Zhongmin shall cause such other Shareholders
to provide their written consent to the transfer of the Target Equity Interests to the Zhongming and/or the Designee(s) and to
waive any preemptive right related thereto;

 

		2.4	The relevant Parties shall execute all necessary contracts, agreements or documents, obtain all
necessary government licenses and permits and take all necessary actions to transfer valid ownership of the Target Equity Interests
to the Zhongming and/or the Designee(s), unencumbered by any security interests, and cause the Zhongming and/or the Designee(s)
to become the registered owner(s) of the Target Equity Interests. For the purpose of this Section and this Agreement, “security
interests” shall include securities, mortgages, third party’s rights or interests, any stock options, acquisition right,
right of first refusal, right to offset, ownership retention or other security arrangements, but shall be deemed to exclude any
security interest created by this Agreement and the Share Pledge Agreement.

 

		3.	Transfer Price

 

		3.1	The total transfer price for the Target Equity Interests shall be the lowest price allowable under
PRC laws and administrative regulations at the time of said transfer (“Transfer Price”). Where there is no lowest
price under PRC laws and administrative regulations, the transfer price shall be the price determined by the Zhongming or the price
determined on the basis of the registered capital of Zhongmin. If the Target Equity Interests are transferred in installments,
the due transfer price for each installment shall be determined in accordance with the proportion of Target Equity Interests under
said transfer. The Shareholders shall transfer the Transfer Price and affiliated benefits to the Zhongming or the entity designated
by the Zhongming at nil consideration immediately after receiving the Transfer Price and affiliated benefits.

 

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		3.2	All the taxes, fees and expenses arising from the transfer of the Target Equity Interests shall
be borne by each Party respectively in accordance with the Laws of China.

 

		4.	Covenants

 

		4.1	Covenants of Zhongmin and the Shareholders

 

The Shareholders (as the shareholders
of Zhongmin) and Zhongmin hereby covenant as follows:

 

		4.1.1	Without the prior written consent of the Zhongming, they shall not in any manner supplement, change
or amend the articles of association and bylaws of Zhongmin, increase or decrease its registered capital, or change the structure
of its registered capital in other manners;

 

		4.1.2	They shall maintain Zhongmin’s corporate existence in accordance with good financial and
business standards and practices by prudently and effectively operating its business and handling its affairs;

 

		4.1.3	Without the prior written consent of the Zhongming, they shall not at any time following the date
hereof, sell, transfer, mortgage or dispose of in any manner any assets of Zhongmin (except in the ordinary course of business),
or legal or beneficial interest in the business or revenues of Zhongmin, or allow the encumbrance thereon of any security interest;

 

		4.1.4	Without the prior written consent of the Zhongming, they shall not incur, inherit, guarantee or
assume any debt, except for debts incurred in the ordinary course of business;

 

		4.1.5	They shall always operate all of Zhongmin’s businesses during the ordinary course of business
to maintain the asset value of Zhongmin and refrain from any action/omission that may adversely affect Zhongmin’s operating
status and asset value;

 

		4.1.6	Without the prior written consent of the Zhongming, they shall not cause Zhongmin to execute any
material contract, except the contracts executed in the ordinary course of business (for purpose of this subsection, the Zhongming
may define a material contract at its sole discretion);

 

		4.1.7	Without the prior written consent of the Zhongming, they shall not cause Zhongmin to provide any
person with any loan or credit, or provide any person with any guarantee or security in
any form, other than in the course of ordinary business;

 

		4.1.8	They shall provide the Zhongming with information on Zhongmin’s business operations and financial
condition at Zhongming’s request;

 

		4.1.9	If requested by the Zhongming, they shall procure and maintain insurance in respect of Zhongmin’s
assets and business from an insurance carrier acceptable to the Zhongming, at an amount and type of coverage typical for companies
that operate similar businesses;

 

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		4.1.10	Without the prior written consent of the Zhongming, they shall not cause or permit Zhongmin to
merge, consolidate with, acquire or invest in any person;

 

		4.1.11	They shall immediately notify the Zhongming of the occurrence or possible occurrence of any litigation,
arbitration or administrative proceedings relating to Zhongmin’s assets, business or revenue, and take all necessary measures
in accordance with the reasonable request of the Zhongming;

 

		4.1.12	To maintain the ownership by Zhongmin of all of its assets, they shall execute all necessary or
appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary
and appropriate defenses against all claims;

 

		4.1.13	Without the prior written consent of the Zhongming, they shall ensure that Zhongmin shall not in
any manner distribute dividends to its shareholder(s), provided that upon the Zhongming’s written request, Zhongmin shall
immediately distribute part or all distributable profits to its shareholder(s) who shall in turn immediately and unconditionally
pay or transfer to the Zhongming any such distribution;

 

		4.1.14	At the request of the Zhongming, they shall appoint any persons designated by the Zhongming as
the directors and/or executive director and senior executives of Zhongmin, or remove the directors and/or executive directors and
senior executives of Zhongmin from office;

 

		4.1.15	They shall cause the meeting of shareholders and the board of directors of Zhongmin to pass shareholders’
resolutions and board resolutions in accordance with the instruction of the Zhongming;

 

		4.1.16	Unless otherwise mandatorily required by PRC laws, Zhongmin shall not be dissolved or liquated
without prior written consent by the Zhongming.

 

		4.2	Covenants regarding equity interests in Zhongmin

 

Each Shareholder hereby covenants
as follows:

 

		4.2.1	Without the prior written consent of the Zhongming, the Shareholder shall not sell, transfer, mortgage
or dispose of in any other manner any legal or beneficial interest in the Target Equity Interests or allow the encumbrance thereon
of any security interest, except for the pledge placed on the Target Equity Interests in accordance with the Equity Interests Pledge
Agreement;

 

		4.2.2	The Shareholder shall cause the shareholders’ meeting and/or the board of directors and/or
the executive directors of Zhongmin not to approve the sale, transfer, mortgage or disposition in any other manner of any legal
or beneficial interest in the Target Equity Interests or allow the encumbrance thereon of any security interest, without the prior
written consent of the Zhongming, except for the pledge placed on the Target Equity Interests in accordance with the Equity Interests
Pledge Agreement;

 

		4.2.3	The Shareholder shall cause the shareholders’ meeting or the board of directors and/or the
executive directors of Zhongmin not to approve the merger or consolidation with any person, or the acquisition of or investment
in any person, without the prior written consent of the Zhongming;

 

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		4.2.4	The Shareholder shall immediately notify the Zhongming of the occurrence or possible occurrence
of any litigation, arbitration or administrative proceedings relating to the Target Equity Interests, and take all necessary measures
in accordance with the reasonable request of the Zhongming;

 

		4.2.5	At the request of the Zhongming at any time, the Shareholder shall promptly and unconditionally
cause the transfer of the Target Equity Interests to be approved and consummated as set forth in this Agreement;

 

		4.2.6	To the extent necessary to maintain the Shareholder's ownership in Zhongmin, the Shareholder shall
execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate
complaints or raise necessary and appropriate defenses against all claims;

 

		4.2.7	The Shareholders shall promptly donate any profit, interest, dividend or proceeds of liquidation
received from Zhongmin to the Zhongming or any other entity designated by the Zhongming to the extent permitted under applicable
PRC laws; and

 

		4.2.8	The Shareholder shall strictly abide by the provisions of this Agreement and other contracts jointly
or separately executed by and among the Shareholder, the Zhongming and Zhongmin, perform the obligations hereunder and thereunder,
and refrain from any action/omission that may affect the effectiveness and enforceability hereof and thereof. To the extent that
the Shareholder has any remaining rights with respect to the equity interests subject to this Agreement hereunder or under the
Equity Interests Pledge Agreement or under the proxy agreement and power of attorney granted in favor of the Zhongming, the Shareholder
shall not exercise such rights except in accordance with the written instructions of the Zhongming.

 

		5.	Representations and Warranties

 

The Shareholders
and Zhongmin hereby represent and warrant to the Zhongming, jointly and severally, on the date of execution of this Agreement and
each date of execution of Equity Interests Transfer Agreements, that:

 

		5.1	The Shareholders and Zhongmin have the authority to execute and deliver this Agreement and any
relevant Equity Interests Transfer Agreement concerning the Target Equity Interests to be transferred thereunder, and to perform
their obligations under this Agreement and any Equity Interests Transfer Agreements;

 

		5.2	The execution and delivery of this Agreement or any Equity Interests Transfer Agreements and the
performance of any obligations under this Agreement or any Equity Interests Transfer Agreements: (i) do not cause any violation
of any applicable laws of China; (ii) will not cause inconsistency with the articles of association, bylaws or other organizational
documents of Zhongmin; (iii) do not cause the violation of any contracts or instruments to which they are a party or which are
binding on them, or constitute any breach under any contracts or instruments to which they are a party or which are binding on
them; (iv) do not cause any violation of any condition for the grant and/or continued effectiveness of any licenses or permits
issued to any of them; and (v) do not cause the suspension or revocation of or imposition of additional conditions to any licenses
or permits issued to any of them;

 

		5.3	The Shareholders have good and merchantable title to the Target Equity Interests. Except for the
Equity Interests Pledge Agreement, the Shareholders have not placed any security interest on the Target Equity Interests;

 

    	 	5	 

     

    

 

		5.4	Zhongmin has good and merchantable title to all of its assets, and has not placed any security
interest on the aforementioned assets, except for encumbrance disclosed to the Zhongming for which Zhongming's written consent
has been obtained ;

 

		5.5	Zhongmin does not have any due outstanding debts, except for debts disclosed to the Zhongming for
which Zhongming’s written consent has been obtained; and

 

		5.6	There is no pending or potential litigation, arbitration or other legal or administrative proceeding
relating to the Target Equity Interests, assets of Zhongmin or Zhongmin.

 

		5.7	The Shareholders and Zhongmin have taken all necessary measures and executed all necessary documents
to ensure that, upon shareholder’s death, incapacity or other circumstance that may affect the shareholder’s rights
enjoyed by the Shareholders of the Zhongmin, any successor of the Shareholder shall be deemed as a party to this Agreement, and
shall assume and undertake all rights and obligations under the terms of this Agreement.

 

		6.	Taxes and Fees

 

Each Party shall pay any and
all transfer and registration tax, expenses and fees incurred thereby or levied thereon in accordance with the laws of China in
connection with the preparation and execution of this Agreement and the Equity Interests Transfer Agreement, as well as the consummation
of the transactions contemplated under this Agreement and the Equity Interests Transfer Agreement.

 

		7.	Confidentiality

 

The Parties
acknowledge that any oral or written information exchanged among them with respect to this Agreement is confidential information.
Each Party shall maintain the confidentiality of all such information, and without obtaining the written consent of other Parties,
it shall not disclose any relevant information to any third parties, except in the following circumstances: (a) such information
is or will be in the public domain (provided that this is not the result of a public disclosure by the receiving party); (b) information
disclosed as required by applicable laws or regulations or rules of any stock exchange; or (c) information required to be disclosed
by any Party to its legal counsel or financial advisor regarding the transaction contemplated hereunder, provided that such legal
counsel or financial advisor is also bound by confidentiality duties similar to the duties set out in this section. Disclosure
of any confidential information by the staff members or agency hired by any Party shall be deemed disclosure of such confidential
information by such Party, which Party shall be held liable for breach of this Agreement. This Section shall survive the termination
of this Agreement for any reason.

 

		8.	Assignment

 

		8.1	Zhongmin and the Shareholders shall not assign any of their respective rights or obligations under
this Agreement to any third party without the prior written consent of the Zhongming.

 

		8.2	Zhongmin and the Shareholders hereby agree that the Zhongming may assign its rights and obligations
under this Agreement as the Zhongming may decide at its sole discretion, and such assignment shall only be subject to a written
notice sent to Zhongmin and the Shareholders.

 

		9.	Entire Agreement and Amendment to Agreement

 

		9.1	This Agreement and all agreements and/or documents mentioned or included explicitly by this Agreement
constitute the complete agreement with respect to the subject matter of this Agreement and shall substitute any and all prior oral
agreements, contracts, understandings and communications made by the Parties with respect to the subject matter of this Agreement.

 

    	 	6	 

     

    

 

		9.2	Any modification of this Agreement shall be made in a written form and shall only become effective
upon execution by all Parties of this Agreement. Modifications and supplements to this Agreements duly executed by the Parties
shall be parts of this Agreement and shall have the same legal effect as this Agreement.

 

		9.3	In the event that The Stock Exchange of Hong Kong Limited or other supervision and administration
institution provides any comments to this Agreement, or upon any changes to the Rules Governing the Listing of Securities on The
Stock Exchange of Hong Kong Limited or relevant requirements where they relate to this Agreement, the Parties shall amend this
Agreement accordingly.

 

		9.4	In the event that at the time of the Target Equity Interests transfer, it is necessary to modify
the form of the “Equity Interests Transfer Agreement” set forth in Schedule 2 attached hereto pursuant to the then
effective PRC laws and administrative regulations, the Parties shall make such modifications in good faith in compliance with PRC
laws and administrative regulations.

 

		9.5	The Schedules are an integral part of this Agreement and have the same legal effects as the other
parts of the Agreement.

 

		10.	Governing Law

 

This Agreement shall be construed
in accordance with and governed by the laws of China.

 

		11.	Dispute Resolution

 

Any dispute or claim arising
out of or in connection with or relating to this Agreement shall be resolved by the Parties in good faith through negotiations.
In case no resolution can be reached by the Parties, such dispute shall be submitted to the Shanghai International Economic and
Trade Arbitration Commission for arbitration in accordance with its rules of arbitration in effect at the time of applying for
such arbitration and the place of arbitration shall be in Shanghai. The arbitral tribunal or the arbitrators shall have the authority
to award any remedy or relief in accordance with the terms of this Agreement and applicable PRC laws, including provisional and
permanent injunctive relief (such as injunctive relief with respect to the conduct of business or to compel the transfer of assets),
specific performance of any obligation created hereunder, remedies over the equity interests or land assets of Zhongmin and winding
up orders against Zhongmin. The arbitral award shall be final and binding upon all Parties.

 

To the extent permitted under
applicable PRC laws, each of the Parties shall have the right to seek interim injunctive relief or other interim relief from a
court of competent jurisdiction in support of the arbitration when formation of the arbitral tribunal is pending or under appropriate
circumstances. For this purpose, the Parties agree that, to the extent not against applicable laws, the courts of Hong Kong, the
courts of the Cayman Islands, the courts of PRC and the courts of the places where the principal assets of Zhongmin are located,
shall all be deemed to have jurisdiction.

 

		12.	Effective Date and Term

 

		12.1	This Agreement shall be signed and take effect as of the date first set forth above.

 

		12.2	This Agreement shall remain effective as long as Zhongmin exists unless terminated as provided
in Section 13.

 

    	 	7	 

     

    

 

		13.	Termination

 

Neither of
the Shareholders and Zhongmin shall have the right to terminate this Agreement. This Agreement shall be terminated i) by the Zhongming
at any time with thirty (30) days advance written notice to Zhongmin and the Shareholders; or ii) upon the transfer of all the
Target Equity Interests held by the Shareholders to the Zhongming and/or its Designee pursuant to this Agreement.

 

		14.	Indemnities and Remedies

 

		14.1	Either Party shall forthwith on demand indemnify the other Party against any claim, loss, liability
or damage (“Loss”) which such Party shall incur as a consequence of any breach by the other Party of this Agreement
provided that neither Party shall be liable to indemnify the other Party for any Loss to the extent that such Loss arises from
the willful misconduct, breach of applicable law, regulation or contractual obligation or from the material negligence of the other
Party or its directors, officers, employees, or agents.

 

		14.2	The Parties agree that this section shall survive the termination or expiration of this Agreement.

 

		15.	Notices

 

Notices or
other communications required to be given by any party pursuant to this Agreement shall be written in English and Chinese and delivered
personally or sent by registered mail or postage prepaid mail or by a recognized courier service or by facsimile transmission to
the address of each relevant party as specified by such party from time to time. The date when a notice is deemed to be duly served
shall be determined as follows: (a) a notice delivered personally is deemed duly served upon delivery; (b) a notice sent by mail
is deemed duly served on the tenth (10th) day after the date when the postage prepaid registered airmail is posted (as evidenced
by the postmark), or on the fourth (4th) day after the date when the notice is delivered to an internationally-recognized courier
service agency; and (c) a notice sent by facsimile transmission is deemed duly served upon receipt as evidenced by the time shown
in the transmission confirmation for the relevant documents.

 

		16.	Severability

 

If any provision
of this Agreement is judged to be invalid or unenforceable because it is inconsistent with applicable laws, such invalidity or
unenforceability shall be only with respect to such laws, and the validity, legality and enforceability of the other provisions
hereof shall not be affected.

 

		17.	Counterparts

 

This Agreement shall be executed
in eight originals by all Parties, with each Party holding one original. All originals shall have the same legal effect. The Agreement
may be executed in one or more counterparts.

 

		18.	Languages

 

Both Chinese and English versions
of this Agreement shall have equal validity. In case of any discrepancy between the English version and the Chinese version, the
Chinese version shall prevail.

 

[Signature Pages Follow]

 

    	 	8	 

     

    

 

IN WITNESS WHEREOF, the Parties have duly
executed this Agreement on the date appearing at the head hereof.

 

	Shanghai Zhongming Supply Chain Management Co.,Ltd.	 
	Authorized Representative: 	 
	 	 	 
	Signature: 	/s/Shanghai Zhongming Supply Chain Management Co.,Ltd. 	 
	Seal: (Seal) 	 
	 	 	 
	Shanghai Zhongmin Supply Chain Management Co., Ltd.	 
	Authorized Representative: 	 
	 	 	 
	Signature: 	/s/Shanghai Zhongmin Supply Chain Management Co., Ltd.	 
	Seal: (Seal) 	 
	 	 	 
	Shanghai Zhongmin Investment and Development Co., Ltd.	 
	Authorized Representative: 	 
	 	 	 
	Signature: 	/s/Shanghai Zhongmin Investment and Development Co., Ltd.	 
	Seal: (Seal) 	 

 

[Signature Page to Exclusive Option
Agreement]

 

     

     

    

 

SCHEDULE 1

 

Shareholders

 

	No.	 	Name	 	ID / No.
	1	 	Shanghai Zhongmin Investment and Development Co., Ltd.	 	 

 

     

     

    

 

SCHEDULE 2

 

Equity Interests Transfer
Agreement

 

This Equity Interests Transfer Agreement
(this “Agreement”) is entered into in Shanghai, China by:

 

Transferor:

 

Transferee:

 

NOW, the Parties agree as follows concerning
the equity interests transfer:

 

		1.	The Transferor agrees to transfer to the transferee [ ]% of Equity Interests of Shanghai Zhongmin
Supply Chain Management Co., Ltd. (the “Transferred Equity Interests”) held by the Transferor, and the Transferee
agrees to accept said equity interests.

 

		2.	The consideration of the above equity interests transfer is [ ] RMB. Within [ ] days upon receiving
the written notice of the Transferor’s completion of the industrial and commercial alteration registration of the Transferred
Equity Interests, the Transferee shall pay the aforesaid consideration.

 

		3.	The Transferor shall complete the industrial and commercial alteration registration within [ ]
days of the execution of this Agreement, register the Transferee as the shareholder of the Transferred Equity Interests, and shall
send written notice to the Transferee within [ ] days after the completion of the process.

 

		4.	After the closing of such equity interests transfer, the Transferor shall not have any rights or
obligations as a shareholder with regard to the Transferred Equity Interests, and the Transferee shall have such rights and obligations
as a shareholder of Shanghai Zhongmin Supply Chain Management Co. Ltd with regard to the Transferred Equity Interests.

 

		5.	Taxes incurred by the performance of this Agreement shall be borne by the Transferor and the Transferee
respectively in accordance with the laws and regulation of the People’s Republic of China. Where there is no such provision,
each party shall bear 50% thereof.

 

		6.	This agreement shall be governed by and construed in accordance with the laws of the People’s
Republic of China.

 

		7.	Any disputes arising out this Agreement shall first be resolved through friendly consultations
between the Parties. If no solution can be reached, the Party shall submit the dispute to the Shanghai International Economic and
Trade Arbitration Commission for resolution by arbitration under the arbitration rules in force when the application for arbitration
is submitted. The location of arbitration shall be Shanghai.

 

		8.	Any matter not covered by this Agreement may be determined by the Parties by way of signing supplementary
agreements.

 

		9.	This Agreement shall be effective from the signing day.

 

		10.	This Agreement is executed in four copies, with each party holding one copy. The other copies are
made for the purpose of going through business registration of such change.

 

     

     

    

 

	Transferor: 	 	 
	 	 	 
	Signature: 	 	 
	Date:	 	 
	 	 	 
	Transferee:	 	 
	 	 	 
	Signature: 	 	 
	Date:

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