Document:

Exhibit 10.9

 

No.:    

 

SPD BANK

 

Financing Quota Agreement

 

Contract Version No.: SPDB201512 

 

     

     

    

 

	SPD BANK	 	Financing Quota Agreement

 

Financing Quota Agreement

 

Company: Huizhou Highpower Technology Co.,
Ltd. (hereinafter referred to as the “customer”)

Main business address: Xinhu Industrial
Development Zone, Ma’an Town, Huicheng District, Huizhou City

Contact: Pan Dangyu Tel.: *

 

Bank: Shanghai Pudong Development Bank
Co., Ltd. Huizhou Branch (hereinafter referred to as the “financing bank”)

Main business address: Floors I and II,
Dewei Plaza, No. 4, Jiangbei Yunshan West Road, Huicheng District, Huizhou City

Contact: Huang Wei Tel.: *

 

In principle of equality and mutual benefit,
both parties concerned herein have reached the following agreement through friendly consensus on the basis of equality and free
will in accordance with relevant laws and regulations:

 

Part I General Conditions and Terms

1. Agreement Any documents signed
by the customer and the financing bank within the quota use term, including quota change agreement (refer to Annex I for the format)
and the affiliated financing document, are components hereof and shall be read together with this agreement.

2. Quota For the purpose of this
agreement, quota use term refers to the quota use term listed in the financing quota table (the second part of this agreement)
or the quota use term recorded in any valid quota change agreement signed by the financing bank, whichever is signed later shall
prevail. The customer shall apply for using the financing quota to the financing bank within the quota use term. In the event that
the customer puts forward the application beyond the quota use term, no matter whether the financial quota has been used up, the
financing bank may refuse.

3. Quota Change Where this condition
and term are not in line with the financing quota table, the financing quota table (including the change to the financing quota
table made by the customer and the financing bank in the quota change agreement from time to time) shall prevail. Where any affiliated
financing document signed by the customer and the financing bank within the quota use term is inconsistent with the regulations
hereof, the business involved in the affiliated financing document shall be subject to the regulations in the affiliated financing
document.

Despite of the aforesaid regulations, the
financing bank still has the right to, when it deems necessary, for the need to ensure the safety of its creditor’s right,
notify the customer of the advance expiry of the financing under any affiliated financing document. In case of notification of
advance expiry of financing, the customer shall repay the financing amount immediately; for the L/C, L/G/ SLC and bank acceptance
opened by the financing bank according to the customer’s application, the customer shall immediately make up for the margin
to 100%.

4. Financing In accordance with
the regulations of this agreement and any affiliated financing document, within the financing quota and its term, the customer
may provide credit financing (collectively referred to as financing herein) for the financing bank according to the agreements.
The financing category specifically applicable shall be subject to the regulation of the financing quota table. The commitments
of the financing quota by the financing bank hereunder are divided into revocable commitments and irrevocable commitments. In case
of meeting the preconditions agreed herein for quota use and other preconditions on the specific business agreed upon by both parties,
the financing bank shall fulfill the commitments hereunder.

 

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	SPD BANK	 	Financing Quota Agreement

 

5. Affiliated Financing Documents
For the purpose of this agreement, affiliated financing documents refer to documents signed by the customer, including but not
limited to:

(1) In terms of loan, referring to the
working capital loan contract, fixed asset loan contract and any other loan documents that may be signed with the customer;

(2) In terms of notes discounted, referring
to the discounted bill business agreement and any other documents that may be signed by the customer;

(3) In terms of guaranteed discount of
trade acceptance, referring to the trade acceptance guaranteed discount agreement and any other documents that may be signed by
the customer;

(4) In terms of factorage financing, referring
to the factorage financing agreement and any other documents that may be signed by the customer;

(5) In terms of outward documentary bill
under L/C (including domestic L/C), collection of documentary bill, referring to business agreement of outward documentary bill
under L/C and collection of outward documentary bill and any other documents that may be signed by the customer;

(6) In terms of inward documentary bill
under L/C (including domestic L/C), referring to the inward documentary bill business agreement and any other documents that may
be signed by the customer;

(7) In terms of packing loan, referring
to the packing loan business agreement and any other documents that may be signed by the customer;

(8) In terms of opening a L/C, referring
to L/C opening business agreement and any other documents that may be signed by the customer;

(9) In terms of opening a L/G/ SLC, referring
to L/G/ SLC opening business agreement;

(10) In terms of opening bank acceptance,
referring to the bank acceptance opening business agreement and any other documents that may be signed by the customer;

(11) Other financing documents signed by
and between the customer and the financing bank.

With regard to the relevant financing quota
use application put forward by the customer, in case of meeting the agreements hereof and the requirements of the financing bank,
the financing bank will issue the financing amount to the customer in accordance with this agreement and affiliated financing documents
and/or issue commitments according to the customer’s requirements. However, the customer shall not revoke or change the financing
application/agreement that it has proposed. Otherwise, the customer shall pay the financing bank the cost, expenses and losses
caused to the financing bank by its revocation or change of the application/ agreement.

6. Document Submission The customer
guarantees to submit the following documents to the financing bank or meet the corresponding conditions before signing this agreement
or based on the financing bank’s requirements:

(1) Copies of the company’s latest
company’s articles of association, business license;

(2) The resolution of the Board of Directors
to authorize the customer to sign this agreement and relevant affiliated financing documents;

(3) The customer’s power of attorney
to the authorized representative and the signature sample of the authorized agent;

(4) All affiliated financing documents
legally signed by the customer according to the financing bank’s requirements;

(5) Other documents and/or conditions required
by the financing bank.

7. Preconditions for Quota Use

The customer shall meet the following preconditions
before using the quota:

(1) The customer’s production operation
activity is normal; the financial status is good; there has been no serious deterioration in operation status in the past 3 years;

(2) Default events recorded in the financing
quota agreement have not occurred to the customer;

 

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	SPD BANK	 	Financing Quota Agreement

 

(3) If the business hereunder is guaranteed,
the corresponding guarantee document has been signed and taken effect, necessary mortgage/ pledge registration formalities have
been duly handled, and the guarantee right has been set up before the financing bank conducts the specific business;

(4) The customer puts forward a specific
quota use plan; the elements and conditions for specific business application meet the relevant regulations and rules of the financing
bank and the requirements of credit approval; meet the handling conditions of the specific financing business;

(5) The customer has provided the conditions
of its production, operation, financial activities and statement materials and promises to provide on schedule and accept the supervision
and examination of the financing bank within the term of validity of this agreement;

(6) The quota amount to be used does not
exceed the remaining balance of the quota;

(7) The customer’s specific business
application is proposed within the quota use term, and the designated loan day or the day on which the financing bank is required
to open a L/C, L/G/ SLC, bank acceptance bill and other business implementation date are business days of the financing bank;

(8) Other preconditions required by the
financing bank (if any, refer to “Other Matters Agreed” in the second part).

8. Occupied Financing Quota It refers
to the sum of the financing amount issued by the financing bank to the customer in accordance with this agreement and affiliated
financing documents and the amount involved in the commitments issued to the external as per the customer’s requirements,
but shall deduct the amount that has been paid by the customer or the customer’s guarantor to the financing bank in form
of cash pledge (including margin, etc.) unless otherwise agreed upon by both parties.

9. Circulation For the circular
financing quota, after the customer has fulfilled the obligations under this agreement and its affiliated financing documents (including
repaying the relevant financing amount, making up to 100% margin, the financing bank’s being dissolved the external payment
liability), the financing quota occupied by the amount involved in the obligations already fulfilled shall be restored. The customer
may continue to apply for using the financing quota to the financing bank within the quota use term in accordance with the regulations
hereof. Once the noncircular financing quota is occupied, unless the financing bank agrees, it shall not be restored. Unless otherwise
provided herein, the financing bank has the right to review the customer condition and guaranty condition every year. If passing
the financing bank’s review, the customer may continue to use the financing quota in the next year; if failing the financing
bank’s review, the financing bank has the right to cancel the financing quota at the beginning of the next year. Except that
the valid affiliated financing documents are free from influence, the financing quota not used and to be returned in the future
shall not be reused.

10. Guarantee If the financing quota
hereunder is guaranteed, the additional precondition for the customer’s application for financing in accordance with this
agreement is that the guarantee document has been signed and taken effect. If the financing quota table has requirements for the
margin proportion of opening a L/C, L/G/ SLC, or bank acceptance bill, the precondition for the customer to apply for opening a
L/C, L/G/ SLC, or bank acceptance bill is that the margin at such proportion has been fully paid. If the customer applies for changing
the financing quota, causing the financing quota to increase, the customer shall add guarantee or urge the guarantor to confirm
change and add guarantee. If the financing quota may continue to be used in the next year through the financing bank’s review,
the customer shall ensure the continuous validity of relevant guarantee according to the financing bank’s requirements.

11. Taxes Unless the laws require
the customer to deduct relevant taxes when repaying the financing amount, the customer’s repayment hereunder shall be fully
paid and shall not be deducted. If the customer must deduct relevant taxes in accordance with the regulations of the laws, the
customer shall, within fifteen (15) days after making relevant deduction, issue the duty-paid proof to the financing bank; meanwhile,
the customer shall pay the financing bank the additional amount, making that the amount received by the financing bank be equal
to the amount that the financing bank shall receiver before any deduction.

 

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	SPD BANK	 	Financing Quota Agreement

 

12. Representations and Warranties The
customer makes the following representations and warranties, and such representations and warranties shall be deemed to be repeatedly
made by the customer and valid all the time when the financing bank provides financing for the customer in accordance with the
provisions of this agreement and the affiliated financing documents.

(1) The customer is an enterprise (business
division) legal person or other economic organization which is established in accordance with its applicable laws, has the legal
person qualification, complete financial system and solvency, has the right to conclude and fulfill this agreement in accordance
with the laws, has the right to sign this agreement and any documents related to this agreement and has adopted any necessary company
behaviors to have this agreement and any documents related hereto legally and effectively executed and may be enforceable;

(2) The customer’s signature of this
agreement and fulfillment of its obligations hereunder do not and will not violate any other contracts or documents already signed
by it, company articles of association, any applicable laws, regulations or administrative orders, relevant files, judgments or
rulings of authorities, and do not conflict with any other obligations or arrangements assumed by the customer;

(3) The customer and any of its shareholders,
related companies do not involve in any liquidation, bankruptcy, rectification, being merged, merger, division, restructuring,
dissolution, closedown, suspension of business or similar legal procedures and has no circumstances that may cause to involve in
such legal procedures;

(4) The customer has not been involved
in any economic, civil, criminal or administrative litigation procedures or similar arbitration procedures that may have a significant
adverse influence on it and has no circumstances that may cause it to be involved in such litigation procedures or similar arbitration
procedures;

(5) The customer’s legal representative,
Director, Supervisor or other senior management and any important assets of the customer do not involve in any enforcement, seizure,
detection, freezing, retention, supervisions measures and have no circumstances that may cause to involve in such measures;

(6) The customer guarantees that all financial
statements (if any) that it issues met the regulations of its applicable laws and the statements are true, complete and fairly
reflect its financial status; all of its own materials, documents and those of the guarantor and information provided by the customer
to the financing bank are true, valid, accurate, complete and subject to no concealment or omission during the process where this
agreement is signed and performed;

(7) The customer strictly abides by the
laws and regulations that it applies in business activities, conducts businesses in strict accordance with the business scope specified
in the customer’s business license or verified according to law and handle registration annual inspection procedure as scheduled;

(8) The customer has disclosed the facts
and status that it has been or shall be aware of (including but not limited to business status, financial status, external guarantee
condition, etc.), important to the financing bank’s decision on whether to give the credit hereunder;

(9) The customer’s internal management
documents related to environmental and social risks conform to the requirements of laws and regulations and have been feasibly
executed;

(10) The customer ensures that no other
conditions or facts that cause or may cause a major adverse influence on the customer’s fulfillment capacity exist.

13. Promised Matters The customer
makes the following commitments and such commitments shall be deemed to be repeatedly made valid all the time when the financing
bank provides the financing amount to the customer every time in accordance with the stipulations of this agreement and affiliated
financing documents.

 

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	SPD BANK	 	Financing Quota Agreement

 

(1) The customer shall strictly abide by
and fulfill the obligations of this agreement and its affiliated financing agreement;

(2) Unless otherwise provided in this agreement
or affiliated financing documents, the customer shall repay the financing amount or advance payment or make up 100% of the margin
as required by the financing bank on schedule in accordance with the regulations of this agreement and affiliated financing documents;
the customer shall handle, obtain and abide by all verification, authorization, registration and permit required in laws and regulations
that it applies and maintain their validity so that it can legally sign and fulfill the obligations hereunder and under any documents
concerning this agreement; if the financing bank requires, the customer shall immediately issue relevant certificates;

(3) Within five (5) financing bank’s
business days from the day of being aware of its involvement in any economic, civil, criminal or administrative litigation procedure
or similar arbitration procedures that may have a major adverse impact on it, or within five (5) financing bank’s business
days from the day of being aware of any of its important assets’ involvement in any enforced execution, seizure, detention,
freezing, retention or supervisory measures, the financing bank shall be notified in written form and the influence constituted
and remedy measures already adopted or to be adopted shall be explained in detail;

(4) Without the financing bank’s
written consent, the customer shall not provide a third party with guarantee enough to generate a major adverse impact on its financial
status or its fulfillment of the obligations hereunder;

(5) Without the financing bank’s
written consent, the customer shall not liquidate other long-term debts in advance and such liquidation may have a significant
bad influence on the customer’s capacity to fulfill the obligations hereunder;

(6) From the day of signing this agreement,
before the debts under this agreement and its affiliated financing documents have been liquidated, without the financing bank’s
written consent, the customer shall not:

�
Liquidate, rectify, go bankrupt, be merged, separate, restructure, dissolve, close, stop business or go through similar legal
procedures; 

‚
Except for daily operation need, sell, let, give as gift, transfer or dispose of any of its important assets by any other
forms; 

ƒ
Any change occurs to the equity structure; 

„
Sign contracts/ agreements that have a significant adverse influence on the customer’s fulfillment of the obligations
hereunder or assume relevant obligations that have such influence. 

(7) When specific circumstances or specific
changes occur to the guarantee hereunder, the customer shall promptly provide other guarantees recognized by the financing bank
as required by the financing bank. Such specific circumstances or specific changes including but not limited to guarantor’s
stoppage of production, suspension of business, dissolution, suspension of business for rectification, being revoked or withdrawn
the business license, application for or being applied for rectification, bankruptcy, major changes in business or financial status,
major litigation or arbitration cases, legal representative /person in charge litigation, arbitration or other mandatory measures,
reduction or possible reduction of the value of the guaranty or the guaranty’s being adopted seizure and other property security
measures, violations under the guarantee contract, requirement for dissolving the guarantee contract and so on;

(8) As required by the financing bank,
the customer shall also handle notarization with enforceability force with the notary organ recognized by the financing bank; the
customer voluntarily accepts such enforcement;

(9) The customer shall notify the financing
bank of any event that may affect its fulfillment of this agreement and obligations under any documents related to this agreement;

(10) Specially agreed matters concerning
the group customers (the group customers apply).

If the customer herein is a group customer,
the customer hereby promises:

 

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	SPD BANK	 	Financing Quota Agreement

 

�
The customer shall promptly report the conditions of the related transaction with the net asset of more than 10% to the
actual trustee, including: a. the related relationship of the transaction parties; b. transaction project and transaction
nature; c. transaction amount or corresponding proportion; d. pricing policy (including transactions without amount but
symbolic amount).

‚
Where the following circumstances occur to the actual trustee, the customer shall be deemed to have breached this
agreement, and the financing bank has the right to unilaterally decide to cancel the credit that has not been used by the
customer, and take back a part or all of used credit or require the customer to add to 100% margin: a. providing false
materials or concealing important business and financing facts; b. arbitrarily changing the original credit purpose without
the consent of the financing bank, embezzling the credit or using the bank credit to engage in illegal and improper
transactions; c. using the false contract with the related party to discount or pledge the documents receivable, accounts
receivable and other creditor’s rights without actual trading background in the bank in order to hedge bank funds or
credit; d. refusing to accept the financing bank’s supervision and examination on the use of its credit fund and
relevant business and financial activities; e. having major merger, acquisition and restructuring and other conditions, which
the financing bank regards they may affect the credit safety; f. deliberately evading bank loans through related
transactions.

(11) Specially warranted, promised and
agreed matters concerning green credit and loan (applicable to the customers whose construction, production, business activities
of nuclear power station, large-scale hydropower station, water conservancy project, resource excavation project may seriously
change the original status of environment and whose bad environmental and social consequences generated are hard to be eliminated,
and the customers whose construction, production, business activities of petroleum processing, coking and nuclear fuel processing,
chemical raw materials and chemical manufacturing will generate bad environmental and social consequences but easy to be eliminated
through slow release measures):

� The
customer states and warrants management environment and social risks, including: a. internal management documents related to environmental
and social risks meet the requirements of laws and regulations and shall be practically executed; b. there is no litigation case
involving in environmental and social risks;

‚ The customer promises to accept the financing bank’s supervision and strengthen environmental and social risk
management, including: a. promising that all behaviors and performances related to environmental and social risks are
compliant; b. promising to establish and improve the internal management system on environmental and social risks, and having
specified the responsibility, obligation and punishment measures of the customer’s relevant responsible personnel; c.
promising to establish and improve the emergency mechanism and measures to environmental and social accidents; d. promising
to set up a special department and/or designate special personnel to be responsible for environmental and social risks; e.
promising to cooperate with the financing bank or the third party it recognizes to evaluate and examine customer’s
environmental and social risks; f. promising to properly respond or adopt other necessary actions to strong doubts of the
public or other interested parties about the customer’s control performance of environmental and social risks; g.
promising to urge the customer’s vital related party to enhance management and prevent the related
party’s environmental and social risks from infecting the customer; h. promising to fulfill other matters that the
financing bank deems related to the control of environmental and social risks;

ƒ
The customer promises that it shall promptly and fully report to the financing bank when the following conditions occur:
a. all kinds of licenses, approval and verification conditions related to environmental and social risks during the commencement,
construction, operation and stoppage processes; b. evaluation and examination on the customer’s environmental and social
risks conducted by the environmental and social risk regulatory institution or the institution it recognizes; c. supporting construction
and operation of environmental facilities; d. pollutant discharge and compliance conditions; e. employees’ safety and health
conditions; f. adjacent communities’ significant complaint and protest about and against the customer; g. significant environmental
and social claims; h. other significant conditions related to environmental and social risks in the financing bank’s opinion;

 

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	SPD BANK	 	Financing Quota Agreement

 

 „
Where the following circumstances
occur to the customer and the actual creditor, the customer shall be deemed to have default events hereunder: a. the customer’s
representations, warranties and commitments on environmental and social risks have not been carefully fulfilled; b. the customer
suffers punishment from the relevant government department due to poor management of environmental and social risks; c. the customer
suffers the public’s and/or the media’s strong doubt due to poor management of environmental and social management;
d. other default events on environmental and social risks agreed upon by this institution and the customer, including cross default
events;

In the event that the customer has the
aforesaid default events, the financing bank has the right to unilaterally decide: a. to revoke the credit commitments already
made; b. to suspend the allocation of loan until the customer has adopted remedy measures satisfying this institution; c. to take
back the allocated loan in advance; d. to exercise the relevant mortgage and pledge right and other punishment measures when the
loan cannot be repaid; e. other punishment measures agreed upon by the financing bank and the customer;

(12) The customer /guarantor agrees
and irrevocably authorizes: the financing bank, at the premise of not violating the Credit Industry Management Regulations and
prohibitive regulations of relevant laws and regulations, in accordance with the collection requirements of financing credit information
basic database set up by the state, has the right to provide the information of all contracts/ agreements/ commitments signed by
the customer/guarantor and the financing bank, including the relevant condition of the fulfillment information of all aforesaid
contracts/agreements/commitments, and the enterprise basic information and other information provided by the customer/ guarantor
for the financial credit information basic database set up by the state for query and use of the unit with query qualification;
meantime, the financing bank also has the right to query and use the credit information of the customer/ guarantor that has been
already input in the financing credit basic database set up the state. Such authorized matter covers all links of necessary business
management conducted by the financing bank for the business hereunder before and after the signature of this agreement. The term
of validity shall be invalid along with the actual termination of this agreement; 

(13) The customer hereby confirms that
it has fully understood and been aware of the financing bank’s opposing position to its employees’ use their position
to seek for any forms of interests and promises to avoid such circumstances in principle of integrity and fairness, not to provide
any forms of discounts, gift money, priced securities, precious articles, various rewards, private fee compensation, personal tourism,
high consumption entertainment and other illegal interests for the financing bank’s employees.

14. Expenses and Expenditures The
customer shall assume relevant expenses, taxes and dues in accordance with the laws and regulations and the agreements hereof.

15. Penalty Interest Overdue penalty
interest and embezzled penalty interest of the financing amount hereunder and their calculation and collection rules shall be agreed
upon by both parties in the financing quota table or the affiliated financing documents after negotiation.

16. Exchange Rate Conversion Upon
calculation of any quota occupancy, if the financing currency is inconsistent with the financing quota currency, the financing
bank has the right to convert at the relevant exchange rate determined at free will. If the total financing quota already occupied
hereunder is caused by changes in exchange rate to exceed the aforesaid maximum financing quota at any time, the financing bank
has the right to require the customer to immediately repay the excess amount. If the customer’s repayment (including authorized
repayment) currency is inconsistent with the financing currency, the financing bank has the right to repay by purchased foreign
exchange at the relevant exchange rate determined at free will. And the exchange rate risk shall be assumed by the customer by
itself.

 

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	SPD BANK	 	Financing Quota Agreement

 

17. Authorized Repayment and Offsetting
The customer hereby authorizes the financing bank to have the right to represent the customer to directly use the funds in any
account opened by the customer in Shanghai Pudong Development Bank Co., Ltd. (no matter what the currency is) to repay any due
debts of the customer to the financing bank that have not been repaid no matter whether such debts belong to the debts under this
agreement or the affiliated financing documents hereof. This authorization is irrevocable. In case of involving in exchange rate
conversion, the financing bank shall convert at the exchange rate determined by the financing bank at free will. And the exchange
rate risk shall be assumed by the customer.

18. Debt Certificate The financing
bank will keep a set of accounts and vouchers related to the business activities involved in this agreement and all affiliated
financing documents in its accounts in accordance with its consistent business operation rules. Except for obvious errors, the
customer acknowledges that the records in such relevant accounts and vouchers or other valid evidentiary materials are valid basis
of customer debts.

19. Transfer The customer shall
not transfer any rights or obligations hereunder. The financing bank may transfer its rights or obligations hereunder to any third
party and may disclose any information related to this agreement, including any information provided by the customer or the customer’s
guarantor to the financing bank for the purpose of this agreement.

20. Information Disclosure The customer
agrees: in addition to the disclosure allowed in Article 19, for any information related to this agreement, the financing bank
may also disclose to its headquarters, brand institutions, related institutions and the personnel hired by these institutions.
At the same time, disclosure made by the financing bank based on the requirements in any laws and regulations and the requirements
of the supervision department, government institution or judiciary institution is also allowed.

21. Breach of Contract Where the
customer violates any representation, warranty hereof or such representation or warranty is certified to be incorrect, untrue,
or missed or misleading or have been violated, and/or the customer violates or does not fulfill any promised matter herein and/or
the customer violates any regulation of this agreement or any affiliated financing document hereunder, and or the customer has
any circumstance that may affect the safety of the financing bank’s loan, and/ or the guarantor violates the regulation of
any guarantee document, all constitute the customer’s default events of this agreement and affiliated financing documents.
In addition to requiring the customer to compensate all losses including the attorney’s fee, the financing bank may also
have the right (but no obligation) to adopt the following measures separately or at the same time:

(1) Adjust or cancel the financing quota
hereunder;

(2) Announce all or a part of the debts
under any affiliated financing document hereof to expire in advance, and /or terminate this agreement and all or a part of the
affiliated financing documents, and require the customer to immediately return all or a part of the financing principal or interest.
For the bills already accepted or L/C, L/G/ SLC opened by the financing bank within the quota use term, the financing bank may
require the customer to add margin amount, or transfer the customer’s deposit or the deposit in the settlement account to
its margin account for external payment or the margin of the advance payment that may occur to the customer in the future; if the
financing bank already had advance payment, the financing bank has the right to require the customer to immediately repay the advance
payment;

(3) Interest shall be calculated according
to the penalty interest rate agreed herein or the penalty interest rate agreed in the affiliated financing document; and compound
interest shall be calculated and collected to the payable and unpaid interest;

(4) Deduct the customer’s deposit
in any account in the financing bank in accordance with the regulation in Article 17 hereof.

 

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22. Applicable Law and Judiciary Jurisdiction
This agreement is applicable to and governed by the laws of the People’s Republic of China (for the purpose of this agreement,
excluding the laws of Hong Kong, Macau Special Administrative Zones and Taiwan Region). Any dispute related to this agreement may
be settled through friendly negotiation; if negotiation fails, a lawsuit shall be filed with the People’s Court in the locality
of the financing bank. During the dispute period, the parties shall still continue fulfilling the terms not involving the dispute.

23. Litigation Delivery Place The customer
confirms that in case of a jurisdiction occurring hereunder, court summons, notices and other judiciary instruments sent to it
during the litigation process shall be deemed to have been delivered as long as they are sent to the address listed in the front
of this agreement. Any change of the aforesaid address shall not be effective to the financing bank unless they are notified to
the financing bank in advance.

24. Notice Notices sent by one party
concerned herein to the other party shall be sent to the address listed in the front of this agreement until the other party changes
the address in a written notice. As long as sent according to the aforesaid address, they are deemed to have delivered on the following
date: in case of letters, the seventh (7th) financing bank’s business day after registered and sent; in case of
delivery through a special trip, the day of signature by the recipient; in case of fax or email, the day of sending the fax or
email. However, all notices, requirements or other correspondences sent or delivered to the financing bank shall be deemed to have
been delivered upon the actual receipt of the financing bank. The originals (affixed the common seal) of all notices and requirements
sent to the financing bank by fax or email shall be confirmed in form of face-to-face delivery or mailing afterwards.

25. Severability of Terms Invalidity,
unlawfulness or unenforceability of any term of this agreement or any affiliated financing documents shall not have an influence
on the validity, legitimacy and enforceability of the other terms of this agreement or any affiliated financing documents.

26. Grace Within the term of validity
of this agreement, the financing bank’s grace or delay in taking action against any breach of contract or other behaviors
of the customer shall not damage, affect or limit all rights or interests that shall be enjoyed by the financing bank as the creditor
in accordance with the laws or this agreement, nor shall it be regarded as the financing bank’s recognition of the customer’s
violations of this agreement and nor shall it be deemed as the financing bank’s waiver of the right to take action against
defaults.

27. Relationship between Prior Credit
and this Agreement Unless otherwise agreed upon by both parties, if the customer and the financing bank have signed a credit
agreement originally, from the day on which this agreement enters into force, where there is a balance not liquidated in the specific
business under this credit agreement, it shall be included in this agreement automatically and directly occupy the credit quota
hereunder. The customer promises that it shall obtain the confirmation of the guarantor under the original credit agreement to
continue to assume the guarantee liability for the debt hereunder according to the requirements of the financing bank.

28. Entry into Force This agreement
shall enter into force after the customer’s legal representative or authorized agent signs (or seals) and affixes the common
seal, and the financing bank’s legal representative /person in charge or authorized agent signs (or seals) or affixes the
common seal (or the special seal for contract). Unless the financing bank cancels the entire financing quota and the customer shall
no longer have any financing or debt balance to the financing bank under this agreement and all affiliated financing documents,
this agreement shall be valid all the time.

(the End of Part I)

 

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	SPD BANK	 	Financing Quota Agreement

 

Part II Commercial Terms and Conditions
(Financing Quota Table)

 

	Customer name: HUIZHOU HIGHPOWER TECHNOLOGY CO., LTD.
	Description on Financing Quota 
	Financing quota amount (currency)	RMB twenty million Yuan 	
        Quota user term

        (mm/dd/yyyy)
	From April 11, 2019 to April 10, 2020
	Quota circulation method 	 ̈ Recyclable  ̈ Unrecyclable  ̈ Other _________ 
	Quota nature 	 ̈ Revocable commitment  ̈ Irrevocable commitment 
	The guarantors providing guarantee for the debts hereunder and guarantee contracts include but are not limited to: 
	Guarantor 	Pan Dangyu, Boke Energy System (Shenzhen) Co., Ltd.	Guarantee method 	 ̈Mortgage;  ̈Pledge; þ warrant
	Guarantor	Shenzhen City Haopeng Technology Co., Ltd. 	Guarantee method	 ̈Mortgage;  ̈Pledge; þ Warrant
	Guarantor	Shupeng Technology (Shenzhen) Co., Ltd. 	Guarantee method	 ̈Mortgage;  ̈Pledge; þ Warrant
	Proportion of margin for different business categories 	 ̈Guaranteed discount ___%;  ̈open a L/C ___%;  ̈ open a silver ticket ___%;  ̈ open a L/G/ SLC ___%;  ̈other _________________

 

Specific Applicable Financing Categories
and Quota Conditions (please tick applicable financing categories and cross X for unselected ones)

 

	 	 	Applicable

financing 

category 	 	Quota 

(amount, 

currency)	 	Interest rate/ 

rate	 	The longest 

term of a 

single 

business 	 	Remark 
	 ̈	 	Loan 	 	 	 	 	 	 	 	 
	 	 	 ̈Working capital loan 	 	 	 	 	 	 	 	 
	 	 	 ̈Fixed asset loan 	 	 	 	 	 	 	 	 
	þ	 	Trading financing 	 	 	 	 	 	 	 	 
	 	 	þOpen a bank acceptance bill 	 	 	 	 	 	 	 	 
	 	 	 ̈Commercial ticket discount (including agreed interest payment method)	 	 	 	 	 	 	 	 
	 	 	 ̈Silver ticket discount 	 	 	 	 	 	 	 	 
	 	 	 ̈Commercial ticket guaranteed discount (the customer is the acceptor)	 	 	 	 	 	 	 	 
	 	 	 ̈Factorage financing 	 	 	 	 	 	 	 	 
	 	 	 ̈Open a L/C (including buyer’s usance)	 	 	 	 	 	 	 	 
	 	 	 ̈Inward documentary bill (under L/C/inward collection in advance)	 	 	 	 	 	 	 	 
	 	 	 ̈Outward documentary bill under L/C	 	 	 	 	 	 	 	 
	 	 	 ̈Outward documentary bill under collection in advance	 	 	 	 	 	 	 	 
	 	 	 ̈Packing loan 	 	 	 	 	 	 	 	 
	 	 	 ̈Open a L/G /SLC	 	 	 	 	 	 	 	 
	 	 	 ̈Outward remittance advance 	 	 	 	 	 	 	 	 
	 	 	 ̈Import guaranteed payment 	 	 	 	 	 	 	 	 
	 	 	 ̈Domestic L/C buyer financing 	 	 	 	 	 	 	 	 
	 ̈	 	 ̈Other 	 	 	 	 	 	 	 	 

 

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	SPD BANK	 	Financing Quota Agreement

 

Other agreed matters:

 

None.

 

 

 

 

 

 

 

 

 

 

Special notes:

(1) The sum of the financing quota actually
occupied by the applicable financing categories shall not exceed the maximum financing quota at any time. For the financing quota
of some applicable financing category, if the customer hopes to separately apply and not to mix it with other applicable financing
categories, it shall separately indicate the quota of such applicable financing category.

(2) If the mortgagor or the pledgor is the
customer, the guarantor shall be filled in “in person” or the customer’s personal name.

(3) RMB interest rate is annual interest rate.
The floating period shall be indicated for the floating interest rate; a single amount or ratio may be filled in the rate.

This agreement is made in ___ copies, wherein
the customer holds __, the financing bank holds ___, and ___ holds ___, bearing the same legal force.

(There is no text below this page)

 

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	SPD BANK	 	Financing Quota Agreement

 

(This page is signature page without text)

This agreement has been signed by both
parties on _________________. The customer confirms that when signing this agreement, both parties have explained and discussed
all terms and conditions in detail, both parties have had no doubt about all terms and conditions hereof and have had accurate
and correct understanding of the legal meanings of the terms and conditions on restriction or exemption of the relevant rights,
obligations and responsibilities of the parties concerned herein.

 

	Customer (common seal) 	 	Financing bank (common seal or special seal for contract)
	Legal representative or authorized agent (signature or seal)	 	Legal representative /person in charge or authorized agent (signature or seal)

 

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	SPD BANK	 	Financing Quota Agreement

 

Annex I:

Quota Change Agreement (Format)

No.: _____________

 

	Customer name	 	Financing bank	Shanghai Pudong Development Bank Co., Ltd. ___ 
	In accordance with the Financing Quota Agreement numbered ___________ signed by the customer and the financing bank, both parties reach a consensus on changing the matters concerning the financing quota conferred by the financing bank to the customer. Both parties confirm that this change agreement is an integral part of the Financing Quota Agreement. Except the regulations in this change agreement, all other terms and conditions of the Financing Quota Agreement shall not be changed and continue to be valid. 
	Main change matters	 ̈Financing quota amount  ̈Quota use term  ̈Financing category  ̈Guarantee method  ̈Other ____________________
	The customer and the financing bank confirm that the financing quota table changed is as follows: 
	Financing quota amount (currency)	 	
        Quota user term

        (mm/dd/yyyy)
	 
	Quota circulation method 	 ̈ Recyclable  ̈ Unrecyclable  ̈Other _________ 
	Quota nature 	 ̈ Revocable commitment  ̈Irrevocable commitment 
	The guarantors providing guarantee for the debts hereunder and guarantee contracts include but are not limited to: 
	Guarantor 	 	Guarantee method 	 ̈Mortgage;  ̈Pledge;  ̈ Warrant
	Guarantor	 	Guarantee method	 ̈Mortgage;  ̈Pledge;  ̈ Warrant
	Guarantor	 	Guarantee method	 ̈Mortgage;  ̈Pledge;  ̈ Warrant
	Proportion of margin for different business categories 	 ̈ Guaranteed discount ___%;  ̈ open a L/C ___%;  ̈ open a silver ticket ___%;  ̈ open a L/G/ SLC ___%;  ̈other _________________

 

Specific Applicable Financing Categories
and Quota Conditions (please tick applicable financing categories and cross X for unselected ones)

 

	 	 	Applicable
    

    financing 

    category 	 	Quota
    

    (amount, 

    currency)	 	Interest
    rate/ 

    rate	 	The
    longest 

    term of a 

    single 

    business 	 	Remark
    
	 ̈	 	Loan 	 	 	 	 	 	 	 	 
	 	 	Working capital
loan 	 	 	 	 	 	 	 	 
	 	 	 ̈Fixed asset loan 	 	 	 	 	 	 	 	 
	 ̈	 	Trading financing 	 	 	 	 	 	 	 	 

	 	 	 ̈Open a bank acceptance bill 	 	 	 	 	 	 	 	 
	 	 	 ̈Commercial ticket discount (including agreed interest payment method)	 	 	 	 	 	 	 	 
	 	 	 ̈Silver ticket discount 	 	 	 	 	 	 	 	 
	 	 	 ̈Commercial ticket guaranteed discount (the customer is the acceptor)	 	 	 	 	 	 	 	 
	 	 	 ̈Factorage financing 	 	 	 	 	 	 	 	 
	 	 	 ̈Open a L/C (including buyer’s usance)	 	 	 	 	 	 	 	 
	 	 	 ̈Inward documentary bill (under L/C/inward collection in advance)	 	 	 	 	 	 	 	 
	 	 	 ̈Outward documentary bill under L/C	 	 	 	 	 	 	 	 
	 	 	 ̈Outward documentary bill under collection in advance	 	 	 	 	 	 	 	 
	 	 	 ̈Packing loan 	 	 	 	 	 	 	 	 
	 	 	 ̈Open a L/G /SLC	 	 	 	 	 	 	 	 
	 	 	 ̈Outward remittance advance 	 	 	 	 	 	 	 	 
	 	 	 ̈Import guaranteed payment 	 	 	 	 	 	 	 	 
	 	 	 ̈Domestic L/C buyer financing 	 	 	 	 	 	 	 	 
	 ̈	 	 ̈Other 	 	 	 	 	 	 	 	 

 

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	SPD BANK	 	Financing Quota Agreement

 

Other agreed matters:

 

 

 

 

 

This agreement is made in ___ copies, wherein
the customer holds __, the financing bank holds ___, and each guarantor (if any) holds ___, bearing the same legal force.

 

	Customer signature column	Guarantor’s signature column
	
        Customer (common seal):

        Legal representative or authorized agent
        (signature or seal):

        

         

        mm/dd/yyyy
	
        I, the guarantor hereby confirms: to have
        been aware of the aforesaid change matters. I, the guarantor, shall assume guarantee liability for the principal creditor’s
        right after changed. Hereby confirm!

        Guarantor (common seal):

        Legal representative or authorized agent
        (signature or seal):

        mm/dd/yyyy

 

Signature column of the financing bank

 

Financing bank (common seal or special
seal for contract):

Legal representative/ person in charge
or authorized agent (signature or seal):

Date: mm/dd/yyyy

 

    	 	Page 14Exhibit 10.9(a)

 

No.:

 

SPD BANK

 

Maximum Warranty Contract

 

Contract version number: SPDB201203

 

     

     

    

 

	 	SPD BANK	Maximum Warranty Contract	 

  

Maximum Warranty Contract

 

Creditor: Shanghai Pudong Development
Bank Co., Ltd. Huizhou Branch

	Warrantor:	Icon
Energy System (Shenzhen) Co., Ltd.	 
	 	 	 	 

 

Whereas:

In order to ensure that the debtor can
comprehensively and promptly fulfill the obligations under the master contract and guarantee the realization of the creditor’s
rights, the aforesaid warrantor (hereinafter collectively referred to as the “warrantor”) voluntarily assumes the guarantee
liability according to this contract and conclude agreements as follows.

 

Article 1 Warranty Liability

 

1.1 Warranty Method 

The warranty method hereunder is joint
and several liability warranty.

The warrantor confirms that when the debtor
fails to fulfill its debts according to the agreements hereof, no matter whether the creditor owns other guarantee rights (including
but not limited to warranty, mortgage, pledge and other guarantee methods) to the creditor’s rights under the master contract,
the creditor shall have the right to first require any warrantor hereunder to assume warranty liability within the warranty scope
agreed herein without first requiring other guarantors to fulfill guarantee liability.

1.2 Warranty Scope 

In addition to the principal creditor’s
right mentioned herein, the warranty scope hereunder also covers interests (interests referred to herein include interests, penalty
interests and compound interests), liquidated damages, damage compensation, handling fee and other fees generated from signature
and fulfillment of this contract and fees generated by the creditor from realizing the guarantee rights and creditor’s rights
(including but not limited to litigation fee, attorney’s fee, travel fee, etc.), and deposit needing to be made up by the
debtor as required by the creditor based on the master contract.

1.3 Warranty Period 

The warranty period is calculated separately
at each creditor’s right by the creditor to the debtor, two years from the day of expiry of the fulfillment term of each
creditor’s right contract debt to the day of expiry of the debt fulfillment term agreed in the creditor’s right contract.

The warrantor assumes warranty liability
for the repayment obligation fulfilled by installment under a single contract within the occurrence period of the creditor’s
right. The warranty period is two years from the day of expiry of the fulfillment term of each period of debt to the day of expiry
of the last repayment term under the single contract.

“Due”, “expiry”
referred to herein include the circumstance of advance expiry of the principal creditor’s right as announced by the creditor.

If the principal creditor’s right
announced to be due in advance is all or a part of the creditor’s rights within the period of determining the creditor’s
rights, the advance due day announced shall be the due day of all or a part of the creditor’s rights, and the determination
period of the creditor’s rights shall be due at the same time. The creditor announces any claims put forward by the creditor
to authorities in an indictment or application or other documents.

Where the creditor and the debtor reach
an extension agreement on the fulfillment term of the principal debt, the warranty period shall be two years after the day of expiry
of the debt fulfillment term re-agreed in the extension agreement.

 

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	 	SPD BANK	Maximum Warranty Contract	 

 

1.4 Mater Contract Change 

The warrantor hereby confirms that in the
event that any grace given by the creditor to the debtor or modification or change of any terms and conditions of the master contract
conducted by the creditor and the debtor and other circumstances have not aggregated the warrantor’s liability, without the
consent of the warrantor, the creditor’s rights and interests hereunder will not be affected by such change. The warrantor’s
guarantee liability shall be exempted hence.

Despite of the aforesaid regulations,
if the creditor provides the debtor with the business of opening L/C, L/G or SLC, any modification conducted by the creditor or
the debtor to the master contract (including the opened L/C, L/G or SLC) does not need the warrantor’s consent or separate
notice to the warrantor. Such modification is deemed to have obtained the prior consent of the warrantor. The warrantor’s
guarantee liability shall not be exempted hence. 

 

Article 2 Representations and Warranties

 

2.1 Warrantor’s Representations
and Warranties 

The warrantor makes the following representations
and warranties to the creditor:

(1) It is a civil entity with full capacity
for civil rights and civil conducts, has the right to sign this contract and has obtained all authorization and approval required
for signing this contract and fulfilling its obligations hereunder.

(2) The signature and fulfillment of this
contract does not violate the laws, articles of association, authorities’ relevant documents, judgments and rulings that
shall be complied with, nor does it violate any contracts, agreements already signed or any other obligations assumed by the warrantor.

(3) All materials and information it provides
meet the relevant legal regulations that shall be applicable and are true, valid, accurate and complete without any concealment.

(4) The financial materials it provides
shall be true and complete and fairly reflect the warrantor’s financial status. Since the latest audited financial statement
was issued, no major adverse changes have occurred to the warrantor’s business status and financial status.

(5) It will complete record, registration
or other formalities needed for completing this contract.

(6) No conditions or events that have or
may have a significant bad impact on the warrantor’s capacity to fulfill the contract exist.

 

Article 3 Agreed Matters

 

3.1 Warrantor’s Commitments

(1) The warrantor promises not to take
the following actions before obtaining the written consent of the creditor:

a. Transfer (including sell, give as a
gift, offset debts, exchange, etc.), mortgage, pledge or dispose of all or a majority of its major assets by other forms;

b. Major changes occur to the operation
mechanism or property right organization forms, including but not limited to restructuring, equity transfer, merger (or acquisition),
division and capital reduction, etc.;

c. Conduct or apply for conducting bankruptcy,
rectification, dissolution, suspension of business, or being revoked by its superior competent department or abnormal stoppage
of business;

d. Sign contracts/agreements that have
a significant bad impact on the warrantor’s ability to fulfill the obligations hereunder or assume relevant obligations that
have such impact.

(2) The warrantor promises that it shall
immediately notify the creditor within five (5) bank business days after the occurrence of the following events:

 

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	 	SPD BANK	Maximum Warranty Contract	 

 

a. Relevant events that have occurred cause
the representations and warranties made by the warrantor herein to become untrue, inaccurate or incomplete or violate legal regulations
or become invalid;

b. The warrantor or its controlling shareholder,
actual controller or its related person, legal representative involves in litigation, arbitration or its assets are detained, closed
down, frozen, enforced or adopted other measures with the same force;

c. The warrantor’s legal representative
or its authorized agent, person in charge, main financial director, correspondence address, enterprise name, office venue and other
matters are changed, or the warrantor changes its domicile, habitual residence, changes the working unit, leaves the residing city
for a long term, changes its name or has adverse changes in the income level;

d. Being applied by other creditors for
rectification, bankruptcy or revoked by the superior competent unit.

(3) The warrantor promises to cooperate
to provide corresponding financing materials based on the creditor’s requirements in the signature and fulfillment course
of this contract.

(4) The warrantor promises that when the
debtor fails to make up for the margin (including making up in advance) according to the creditor’s requirements under the
master contract, the warrantor shall assume joint and several liability of making up for the margin (such margin will be similarly
regarded as pledge guarantee for the principal creditor’s rights without separate signature of margin pledge agreement).
The warrantor’s compensation for the margin does not exempt it from its warranty liability that shall be assumed according
to this contract. Any losses (including interest losses) incurred from the warrantor’s fulfillment of the liability to make
up for the margin according to this contract shall be voluntarily assumed by the warrantor.

(5) The warrantor confirms that the warrantor
shall not exercise the right of recourse and relevant rights (including but not limited offsetting by any debts that it owes the
debtor) enjoyed due to assumption of guarantee liability hereunder before all creditor’s rights under the master contract
have been liquidated.

(6) In the event that the debtor repays
all or a part of the debts in advance or the debtor liquidates several creditor’s rights, the warrantor shall continue to
assume warranty liability for the creditor’s rights to the debtor which are formed after such advance repayment or several
liquidation.

3.2 Deduction Agreements

(1) When the warrantor has due payable
debts or margin that shall be made up for, the creditor has the right to directly deduct the funds in any account opened by the
warrantor in Shanghai Pudong Development Bank Co., Ltd. for liquidating the due payable debts or making up for the margin. 

(2) The creditor has the right to choose
to use the proceeds to liquidate the principal, interests or other fees. At the same time, in the event that many creditor’s
rights are due and unpaid, the creditor shall decide the order of liquidating the creditor’s rights.

3.3 Exchange rate conversion 

When exchange rate conversion is involved
hereunder, conversion shall be conducted at the foreign exchange price determined by the creditor. The relevant exchange rate risks
and losses shall be assumed by the warrantor. 

3.4 Creditor’s Right Certificate

The valid voucher of the creditor’s
right guaranteed by the warrantor shall be subject to the accounting voucher or other valid evidentiary materials issued or recorded
by the creditor according to its own business regulations.

 

3.5 Notice and Delivery 

(1) Notices sent by one party concerned
herein to the other shall be sent to the address listed in the signature page hereof until the other party notifies to change such
address in written form. As long as sent to the aforesaid address, they shall be deemed to be delivered on the following dates:
if letters, the seventh (7th) bank business day after registered and sent to the address listed in the signature page
hereof; if delivery by a special trip, the day of receipt by the recipient.

 

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	 	SPD BANK	Maximum Warranty Contract	 

 

(2) The warrantor agrees that court summons
and notices sent with regard to its proposal of any litigation are deemed to be delivered as long as sent to the address listed
in the signature page hereof. Change of the aforesaid address does not take effect to the creditor without prior written notice
to the creditor.

 

Article 4 Default Events and Treatment

 

4.1 Default Events 

In case of one of the following cases,
it shall constitute the warrantor’s default to the creditor:

(1) Any representations or warranties made
by the warrantor herein are untrue, inaccurate, misleading, invalid or have been violated.

(2) The warrantor violates any matters
agreed in Article 3 hereof or other obligations agreed herein.

(3) The warrantor stops business, stops
production, suspends business, rectifies, adjusts, comes to deadlock, is liquidated, is taken over or trusted, dissolves, its business
license is revoked or it is cancelled or goes bankrupt.

(4) Where the warrantor’s financial
status deteriorates, serious difficulties occur to business, or events or conditions that have a bad influence on its normal business,
financial status or solvency.

(5) The warrantor or its controlling shareholder,
actual controller or its related person, legal representative involves in major litigation, arbitration or its major assets are
detained, closed down, frozen, enforced or adopted other measures with the same force, causing a bad influence on the warrantor’s
solvency.

(6) If the warrantor is a natural person,
dead or announced to be dead, or transferring assets or trying to transfer assets under the guise of marriage.

(7) Other circumstances that may cause
or have caused a significant influence on the warrantor’s ability hereunder to fulfill the contract according to the creditor’s
reasonable judgment.

4.2 Default Treatment 

In the event that any aforesaid default
events or legal provisions occur, the creditor may exercise guarantee rights hereunder. The creditor has the right to announce
that the principal creditor’s rights and /or the creditor’s right determination period is due in advance, and/or require
the warrantor to assume warranty liability according to law or make up for the deposit based on the agreements hereof.

 

Article 5 Other Terms and Conditions

 

5.1 Applicable Law

This contract is applicable to and interpreted
according to the laws of the People’s Republic of China (for the purpose hereof, excluding the laws of Hong Kong and Macau
Special Administrative Zones and Taiwan Region herein).

5.2 Dispute Settlement 

All disputes related to this contract may
be settled through friendly negotiation; if negotiation fails, file a lawsuit with the people’s court in the creditor’s
domicile. During the dispute period, the parties shall still continue to fulfill the terms and conditions not involving in the
dispute.

5.3 Entry into Force, Change and Dissolution

(1) This contract shall enter into force
after the warrantor’s legal representative or authorized agent signs (or seals) or affixes the common seal, and the creditor’s
legal representative /person in charge or authorized agent signs (or seals) and affixes the common seal (or special seal for contract)
and terminate until all creditor’s rights guaranteed hereunder have been liquidated (if the warrantor is a natural person,
only signature is needed; if the warrantor is an overseas company, the authorized signatory’s signature is needed only).

 

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	 	SPD BANK	Maximum Warranty Contract	 

 

(2) The validity of this contract is independent
from that of the master contract and shall not be invalid or revoked along with the invalidity or revocation of the master contract.
Invalidity, revocation or unenforceability of any terms and conditions hereof shall not affect the validity and enforceability
of other contract terms and conditions.

(3) After this contract takes effect, either
party concerned herein shall not arbitrarily change or dissolve this contract in advance. If this contract needs to be changed
or dissolved, both parties concerned herein shall reach a consensus and conclude a written agreement.

5.4 Miscellaneous 

(1) For the purpose of this contract, when
“laws” are mentioned herein, they shall refer to laws, regulations, rules, local regulations, judiciary interpretation
and any other applicable stipulations.

(2) For the purpose of this contract, “contract”,
“master contract” and other documents mentioned herein shall include subsequent modifications, changes or supplements
to such documents; the entities mentioned herein include but are not limited to the warrantor, creditor, debtor and so on, including
such entities and their subsequent legal inheritors or successors.

(3) For the purpose of this contract, “financing”
mentioned herein refers to accommodation of funds or credit support provided by the bank to the debtor through various bank businesses
including but not limited to loan, opening of bank acceptance bill, L/G, L/C, SLC, etc.

(4) Annexes hereto are integral parts of
this contract and bear the same legal force as the text of this contract.

(5) If matters not covered herein need
to be supplemented, both parties may agree upon and record in Article 6 of this contract and a written agreement may be separately
reached as an annex to this contract.

(6) Unless otherwise specially noted herein,
the relevant wording and representations herein have the same meanings of the master contract.

 

Article 6 Element Clauses

 

6.1 The Master Contract Guaranteed by
this Contract: 

A series of contracts signed by the debtor
and the creditor for handling various financing businesses in accordance with Article 6.3 hereof, and the (contract name and number)
Financing Quota Agreement numbered: BE2019041100000704 signed by and between the debtor and the creditor

6.2 Debtor under the Master Contract:

Huizhou Highpower Technology Co., Ltd..

6.3 Guaranteed Principal Creditor’s
Rights: 

The guaranteed principal creditor’s
rights hereunder are the creditor’s rights incurred by the creditor from the handling of various financing businesses with
the debtor from May 13, 2019 to May 13, 2020 (the aforesaid period is the determination period of the maximum guarantee creditor’s
right, namely, “creditor’s right determination period”), and prior creditor’s rights (if any) agreed
upon by both parties. The balance of the aforesaid principal creditor’s rights shall not exceed the amount equivalent to
RMB (currency) twenty million Yuan only within the creditor’s right determination period.

6.4 Text 

The text of this contract is made in duplicate
with the creditor holding one and the warrantor holding one, bearing the same legal force.

6.5 Other Matters Agreed upon by both
Parties (if any)

None

 

 

 

 

 

 

(There is no text below this page)

 

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	 	SPD BANK	Maximum Warranty Contract	 

 

(This page is signature page without
text)

This contract is signed by the following
parties. The warrantor confirms that when signing this contract, the parties have explained and discussed all terms and conditions
in detail, the parties have had no doubt about all terms and conditions hereof and have had accurate and correct understanding
of the legal meanings of the terms and conditions hereof on restriction or exemption of the relevant rights, obligations and responsibilities
of the parties concerned herein.

 

	Creditor (common seal or special seal for contract):	 	 
	Legal
        representative/ person in charge or authorized agent (signature or seal):

         

         

        Date
        of signature: mm/dd/yyyy
	 	Main
        business address:

        Floors
        1 and 2, Dewei Plaza, No. 4, Jiangbei

        Yunshan
        West Road, Huicheng District, Huizhou City

        Postal
        code: 516000

        Tel.:*

 

	Warrantor (common seal):	 	 
	Legal
        representative/ in person or authorized agent (signature or seal):

         

         

         

        Identity
        certificate type/ number (a natural person warrantor needs to fill in):

         

        Date
        of signature: mm/dd/yyyy
	 	Domicile:

         

        Postal
        code:

        Tel.:

        Fax:

        Email:

        Contact:

 

	Warrantor (common seal):	 	 
	Legal
        representative/ in person or authorized agent (signature or seal):

         

         

         

        Identity
        certificate type/ number (a natural person warrantor needs to fill in):

         

        Date
        of signature: mm/dd/yyyy
	 	Domicile:

         

        Postal
        code:

        Tel.:

        Fax:

        Email:

        Contact:

 

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	 	SPD BANK	Maximum Warranty Contract	 

 

Attachment: the format of the Letter of
Commitment that the spouse agrees to dispose of common properties (it applies when the warrantor is a natural person):

 

Letter of Commitment to Agree to Execute
Common Properties

No.:

To: Shanghai Pudong Development Bank Co.,
Ltd. ___________,

I, _____________ (ID card No.: ____________________),
now am the legal spouse of the warrantor _______________. For the signature and fulfillment of the Maximum Warranty Contract (No.:
____________), I hereby make the following commitment:

I have been fully aware of _____________’s
signature of the aforesaid Maximum Warranty Contract, and I agree to the signature and fulfillment of such warranty contract
and agree that the creditor has the right to dispose of common properties when the warrantor assumes warranty guarantee liability
on the basis of the Maximum Warranty Contract based on this agreements hereof.

 

	 	Acceptor (signature): 
	 	__________________________ 
	 	Date: 

Annexes:

A copy of the ID card.

A copy of the marriage certificate.

 

    	 	Page 7

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