Document:

YY_Ex4_58

		
			Exhibit 4.58
		

		
			Shareholder Voting Rights Proxy Agreement
		

		
			This Shareholder Voting Rights Proxy Agreement (this “Agreement”) dated July 31, 2019, is signed by and among:
		

		
			 
		

		
			 
		

			
					
						Party A:

					
					
						Jianqiang Hu (the “Shareholder”)

				
	
					
						ID Card number:

					
					
						*

				
	
					
						 

					
					
						 

				
	
					
						Party B:

					
					
						Guangzhou Wangxing Information Technology Co., Ltd. (the “WFOE”)

				
	
					
						Address:

					
					
						X1301-E6803(JM), Building 1, No. 106 Fengze East Road, Nansha District, Guangzhou, China

				
	
					
						Legal Representative:

					
					
						Jianqiang Hu

				
	
					
						 

					
					
						 

				
	
					
						Party C:

					
					
						Chengdu Luota Internet Technology Co., Ltd. (the “Company”)

				
	
					
						Address:

					
					
						1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China

				
	
					
						Legal Representative:

					
					
						Qunhua Ding

				

		
			 
		

		
			Party A, Party B and Party C respectively referred to as a “Party”, collectively referred to as “Parties”.
		

		
			WHEREAS:
		

		
			1.           The Shareholder is the present shareholder of the Company, which holds 99% equity of the Company;
		

		
			2.           The Shareholders intend to severally entrust the individual designated by WFOE with the exercise of their voting rights in the Company and WFOE is willing to designate such individual to accept such entrustment.
		

		
			THEREFORE, the Parties, after friendly consultations, hereby agree as follows:
		

		
			Article 1 Voting Right Entrustment
		

		
			1.1          The Shareholder hereby irrevocably undertakes to sign a power of attorney in the form and substance as set forth in Annex 1 after execution of this Agreement to entrust the individual designated by WFOE (hereinafter, the “Entrusted Person”) to exercise on their respective behalf the following rights they, as the shareholder of the Company, are entitled to under the then effective articles of association of the Company (collectively, the “Entrusted Rights”):
		

		
			(1)          Proposing to convene and attending shareholders’ meetings of the Company as the representative of the Shareholder according to the articles of association of the Company;
		

		
			(2)          On behalf of the Shareholder, exercising voting rights on all the issues needing to be discussed and resolved by the shareholders’ meetings of the Company, including but not limited to the appointment of the Company’s directors and other officers needing to be appointed and removed by shareholders;
		

		
			
		

		
			

		 

		

		
			(3)          Other voting rights of shareholder as provided by the laws and regulations of PRC (including their amendments, changes, additions and re-enactments, regardless of the time of their effectiveness before or after the execution of this Agreement);
		

		
			(4)          Exercise other shareholder voting rights as specified in the articles of association of the Company (including any other shareholder voting rights as specified in the amended articles of association).
		

		
			The above authorization and entrustment are granted subject to the status of the Entrusted Person as a PRC citizen and the approval by WFOE. Upon and only upon written notice of dismissing and replacing the Entrusted Person (s) given by WFOE to the Shareholder, the Shareholder shall promptly entrust another PRC citizen then designated by WFOE to exercise the above Entrusted Rights, and once new entrustment is made, the original entrustment shall be replaced. The Shareholder shall not cancel the authorization and entrustment for the Entrusted Person (s) otherwise.
		

		
			1.2         The Entrusted Person shall perform the fiduciary obligations within the scope of authorization with due care and diligence and in compliance with laws. The Shareholder acknowledges and assumes relevant liabilities for any legal consequences of the Entrusted Person’s exercise of the foregoing Entrusted Rights.
		

		
			1.3         The Shareholder hereby acknowledges that the Entrusted Person is not required to seek advice from the Shareholder prior to the exercise of the foregoing Entrusted Rights. However, the Entrusted Person shall inform the Shareholder in a timely manner of any resolution or any proposal on convening interim shareholders’ meeting after such resolution or proposal is made.
		

		
			Article 2 Right to Information
		

		
			2.1         For the purpose of exercising the Entrusted Rights hereunder, the Entrusted Person is entitled to know the information with regard to the Company’s operation, business, customers, finance, staff, etc., and shall have access to the relevant materials of the Company. The Company shall adequately cooperate with the Entrusted Person in this regard.
		

		
			Article 3 Exercise of Entrusted Rights
		

		
			3.1         The Shareholder will provide adequate assistance to the exercise of the Entrusted Rights by the Entrusted Person, including timely execution of the resolutions of the shareholders’ meeting of the Company adopted by the Entrusted Person or other related legal documents when necessary (e.g., when it is necessary for examination and approval of or registration or filing with governmental departments).
		

		
			
		

		
			

		 

		

		
			3.2         If at any time during the term of this Agreement, the grant or exercise of the Entrusted Rights hereunder is unenforceable for any reason (except for default of Shareholder or the Company), the Parties shall immediately seek a most similar substitute for the unenforceable provision and, if necessary, enter into a supplementary agreement to amend or adjust the provisions herein, in order to ensure the realization of the purpose of this Agreement.
		

		
			Article 4 Exemption and Compensation
		

		
			4.1          Pursuant to the Section 4.2, the Parties acknowledge that WFOE shall not be requested to be liable to or compensate (monetary or otherwise) other Parties or any third party due to exercise of the Entrusted Rights hereunder by the individuals designated by it.
		

		
			4.2         The Shareholder and the Company agree to indemnify and hold harmless WFOE from and against all losses incurred or likely to be incurred by it due to exercise of the Entrusted Rights by the Entrusted Person designated by WFOE, including without limitation, any loss resulting from any litigation, demand, arbitration or claim initiated or raised by any third party against it or from administrative investigation or penalty of governmental authorities (collectively, the “Losses”), PROVIDED THAT the above indemnity in respect of any Losses shall not be available to WFOE to the extent that such Losses have been caused by the willful default or gross negligence on the part of the Entrusted Person.
		

		
			Article 5 Representations and Warranties
		

		
			5.1         The Shareholder hereby represents and warrants that:
		

		
			5.1.1      It is a Chinese citizen with full capacity. It has the full and independent legal status and legal capacity to, and has been duly authorized to, execute, deliver and perform this Agreement. It may sue or be sued as an independent party.
		

		
			5.1.2      It has the full power and authority to execute and deliver this Agreement and all other documents relating to the transaction contemplated hereby and to be executed by it. It also has the full power and authority to consummate the transaction contemplated hereby. This Agreement, when duly executed and delivered, shall constitute a legal, valid and binding obligation enforceable against it in accordance with the terms of this Agreement.
		

		
			5.1.3      It is the recorded legal shareholder of the Company as of the effective date of this Agreement, and except for the rights under this Agreement, the Equity Pledge Agreement, the Exclusive Option Agreement and the Exclusive Assets Purchase Agreement entered into among the Shareholder, the Company and WFOE, the Entrusted Rights are free of any third-party right. Pursuant to this Agreement, the Entrusted Person may fully and sufficiently exercise the Entrusted Rights in accordance with the then effective articles of association of the Company.
		

		
			5.2.         Each of WFOE and the Company hereby represents and warrants that:
		

		
			
		

		
			

		 

		

		
			5.2.1       It is a limited liability company duly organized and validly existing under the PRC Law with an independent legal personality. It has the full and independent legal status and legal capacity to execute, deliver and perform this Agreement and may sue or be sued as an independent party.
		

		
			5.2.2       It has the full corporate power and authority to execute and deliver this Agreement and all other documents relating to the transaction contemplated hereby and to be executed by it. It also has the full power and authority to consummate the transaction contemplated hereby.
		

		
			5.3         The Company further represents and warrants that:
		

		
			5.3.1      The Shareholder is the recorded legal shareholder of the Company as of the effective date of this Agreement, and except for the rights under this Agreement, the Equity Pledge Agreement, the Exclusive Option Agreement and the Exclusive Assets Purchase Agreement entered into among the Shareholder, the Company and WFOE, the Entrusted Rights are free of any third-party right. Pursuant to this Agreement, the Entrusted Person may fully and sufficiently exercise the Entrusted Rights in accordance with the then effective articles of association of the Company.
		

		
			Article 6 Term
		

		
			6.1         Subject to the provisions of Articles 6.2 and 6.3 hereof, this Agreement shall become effective as of the date of the due execution by the Parties. Unless prematurely terminated by the Parties in writing or pursuant to Article 9.1 hereof, this Agreement shall remain in force.
		

		
			6.2         The Company or WFOE, within three months before expiry of its duration, shall handle the examination, approval and registration procedures concerning the extension of duration. If the Company or WFOE, upon expiry of its duration, fails to handle the examination, approval and registration procedures concerning the extension thereof, this Agreement shall be terminated.
		

		
			6.3         In case that the Shareholder transfers all of the equity interest held by it in the Company with WFOE’s prior consent, such Shareholder shall cease to be a party to this Agreement. If the Shareholder transfers all or parts of the equity interest held by it in the Company with WFOE’s prior consent, the Shareholder warrants that it shall obtain the written confirmation from the transferee, which agrees to inherit and fulfill all the responsibilities, obligations and commitments of such existing Shareholder under this Agreement.
		

		
			Article 7 Notices
		

		
			7.1         Any notice, request, demand and other communications required to be made or given under or pursuant to this Agreement shall be in writing and served on the relevant Party.
		

		
			
		

		
			

		 

		

		
			7.2         The above notices or other communications shall be deemed duly given or served: if sent by fax or telex, immediately upon transmission; if delivered in person, at the time of delivery; if posted by mail, five (5) days after posting.
		

		
			7.3         For the purpose of notice, all the notices, communications or other documents delivered to the parties of this Agreement shall be delivered to the following address or facsimile number of relevant Party:
		

		
			If send to the Company:
		

		
			Address: 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu 
		

		
			Telephone: 
		

		
			Attention: Qunhua Ding
		

		
			If send to WFOE:
		

		
			Address: 24/F, Building B-1, North Block of Wanda Plaza, No. 79 Wanbo Er Road, Nancun Town, Panyu District, Guangzhou, 
		

		
			Telephone:
		

		
			Attention: Jianqiang Hu
		

		
			If send to the Shareholder:
		

		
			Address: ****** 
		

		
			Telephone: 
		

		
			Attention: ******
		

		
			Article 8 Confidentiality
		

		
			8.1         Regardless of whether this Agreement is terminated or not, each Party shall keep strictly confidential all the business secrets, proprietary information, customer information and other information of a confidential nature about the other Parties known by it during the execution and performance of this Agreement (collectively, the “Confidential Information”). The receiving Party shall not disclose any Confidential Information to any third party except with the prior written consent of the disclosing Party or in accordance with relevant laws or regulations or under requirements of the place where its affiliate is listed on a stock exchange. The receiving Party shall not use or indirectly use any Confidential Information other than for performing this Agreement.
		

		
			8.2         The following information shall not be deemed part of the Confidential Information: 
		

		
			(a)          any information already known by the receiving Party by legal means prior to disclosure, which is substantiated in writing; 
		

		
			
		

		
			

		 

		

		
			(b)    any information being part of public knowledge through no fault of the receiving Party; or
		

		
			(c)    any information rightfully received by the receiving Party from other sources after disclosure. 
		

		
			8.3         The receiving Party may disclose the Confidential Information to its relevant employees, agents or engaged professionals, but the receiving Party shall guarantee that they are in compliance with the relevant terms and conditions of this Agreement and assume any responsibility arising from any breach thereof by them. 
		

		
			8.4         Notwithstanding any other provision herein, the validity of this Article shall survive the termination of this Agreement. 
		

		
			Article 9 Defaulting Liability
		

		
			9.1         The Parties agree and acknowledge that, if any of the Parties (the “Defaulting Party”) materially breaches any provision herein or materially fails to perform or delays performance of any of the obligations hereunder, such breach, failure or delay shall constitute a default under this Agreement (a “Default”). In such event, any of the other Parties without default (the “Non-defaulting Party”) shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of the Non-defaulting Party notifying the Defaulting Party in writing and requiring the Default to be rectified, then:
		

		
			9.1.1       if the Shareholder or the Company is the Defaulting Party, WFOE shall be entitled to terminate this Agreement and require the Defaulting Party to indemnify all damages;
		

		
			9.1.2      if WFOE is the Defaulting Party, the Non-defaulting Party shall be entitled to require the Defaulting Party to indemnify all damages, but the Non-defaulting Party shall not be entitled to any rights to terminate or cancel this Agreement in any situation unless otherwise provided by the mandatory provisions of the laws.
		

		
			9.2         Notwithstanding any other provision herein, the validity of this Article shall survive the suspension or termination of this Agreement.
		

		
			Article 10 Miscellaneous
		

		
			10.1       This Agreement is written in Chinese and executed in three (3) originals, with one (1) original to be retained by each Party hereto.
		

		
			10.2       The formation, validity and interpretation of, resolution of disputes in connection with, this Agreement, shall be governed by PRC Law.
		

		
			
		

		
			

		 

		

		
			10.3       Any dispute arising hereunder and in connection herewith shall be resolved through consultations among the Parties, and if the Parties fail to reach a mutual agreement within thirty (30) days of its occurrence, any Party may submit such dispute to Guangzhou Arbitration Commission for arbitration in accordance with its arbitration rules in effect at the time of applying for arbitration. The number of arbitrators should be one. If within 20 (20) days after the issuance of the notice of arbitration by any party to this Agreement, the parties refuse the designation of the arbitrator who has agreed to participate in the arbitration, Guangzhou Arbitration Commission shall appoint an arbitrator separately. The seat of arbitration shall be Guangzhou and the language used in arbitration proceedings shall be Chinese. The arbitral award shall be final and binding on the Parties.
		

		
			10.4       During dispute resolution, the Parties shall continue to exercise the rights of this Agreement and perform the terms of this Agreement other than those relating to disputes.
		

		
			10.5       Any right, power or remedy conferred on any Party by any provision of this Agreement shall not be exclusive of any other right, power or remedy available to it at law and under the other provisions of this Agreement, and the exercise by such Party of any of its rights, powers and remedies shall not preclude the exercise of any other rights, powers and remedies it may have.
		

		
			10.6       No failure or delay by a Party in exercising any of its rights, powers and remedies available to it hereunder or at law (hereinafter, the “Party’s Rights”) shall operate as a waiver thereof, nor shall the waiver of any single or partial exercise of the Party’s Rights shall preclude such Party from exercising such rights in any other way and exercising the remaining part of the Party’s Rights.
		

		
			10.7       The headings contained herein shall be for reference only, and in no circumstances shall such headings be used in or affect the interpretation of the provisions hereof.
		

		
			10.8       Each provision contained herein shall be severable and independent from each of other provisions, and if at any time any one or more provisions herein become invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions herein shall not be affected as a result thereof.
		

		
			10.9       Any amendment or supplement hereto shall be made in writing and shall become effective only upon due execution by the Parties hereto.
		

		
			10.10     Without WFOE’s prior written consent, any other Party shall not transfer any of its rights and/or obligations hereunder to any third party. The Shareholder and the Company hereby agree that WFOE is entitled to transfer any of its rights and/or obligations hereunder to any third party upon written notice thereof to the other Parties.
		

		
			10.11     This Agreement shall be binding on the legal assignees, successors or heirs of the Parties.
		

		
			
		

		
			

		 

		

		
			10.12     After the execution of this Agreement, if any government agency of PRC makes amendments to any of the laws, regulations, decrees or provisions of China, including amendments, additions or repeal of existing laws, regulations, decrees or regulations, or cites a different interpretation or a different implementation to any of the existing laws, regulations, decrees or regulations (respectively referred to as a “Modification”), or a new law, regulation, decree or regulation (respectively referred to as a “New Provision”), or any government agency proposes requirements or opinions that may have an impact to the performance of this Agreement, the following shall apply:
		

		
			(a)          if the Modification or New Provision is more favorable to the WFOE than the relevant laws, regulations, decrees or regulations that are effective as of the effective date of this Agreement, the parties shall promptly apply to the relevant institutions (if required) for the benefits of these Modification or New Provision. The parties should use their best efforts to get the application approved.
		

		
			(b)          if, due to the Modification or New Provision, the interests of the WFOE under this Agreement are seriously and adversely affected directly or indirectly, after the WFOE notifies the other parties, the parties shall promptly negotiate on the basis of the principle of good faith, and make all necessary modifications and adjustments to the terms or performance of this Agreement, in order to maximize the original commercial intentions of the parties under this Agreement and to maintain the interests of WFOE in this Agreement.
		

		
			(c)          if the requirements of any government agency may have a material adverse effect on the performance of this Agreement in accordance with the terms and conditions of this Agreement, the Shareholder and the Company shall use their best reasonable efforts to communicate with the relevant government agency in order to make this Agreement could be performed pursuant to the original terms and conditions, and the WFOE shall provide necessary assistance in such communication. If such communication is unavailable, all parties shall make timely negotiating on the basis of the principle of good faith, make all necessary modifications and reasonable adjustments to the terms or performance of this Agreement, in order to maximize the original commercial intentions of the parties under this Agreement and to maintain the interests of WFOE in this Agreement.
		

		
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			IN WITNESS WHEREOF , the Parties hereto have caused this Agreement to be executed as of the date first above written.
		

		
			 
		

			
					
						Party A:

					
					
						  

					
					
						Jianqiang Hu

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						  

					
					
						/s/ Jianqiang Hu

				
	
					
						 

					
					
						 

				
	
					
						Party B:

					
					
						  

					
					
						Guangzhou Wangxing Information Technology Co., Ltd.

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						  

					
					
						/s/ Jianqiang Hu

				
	
					
						Name:

					
					
						  

					
					
						Jianqiang Hu

				
	
					
						Title:

					
					
						  

					
					
						Legal Representative

				

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Party C:

					
					
						  

					
					
						Chengdu Luota Internet Technology Co., Ltd.

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						  

					
					
						/s/ Qunhua Ding

				
	
					
						Name:

					
					
						  

					
					
						Qunhua Ding

				
	
					
						Title:

					
					
						  

					
					
						Legal Representative

				

		
			 
		

		
			
		

		
			

		 

		

		
			Annex 1:
		

		
			Power of Attorney
		

		
			
		

		
			

		 

		

		
			Shareholder Voting Rights Proxy Agreement
		

		
			This Shareholder Voting Rights Proxy Agreement (this “Agreement”) dated July 31, 2019, is signed by and among:
		

		
			 
		

			
					
						Party A:

					
					
						Qunhua Ding (the “Shareholder”)

				
	
					
						ID Card number:

					
					
						*

				
	
					
						 

				
	
					
						Party B:

					
					
						Guangzhou Wangxing Information Technology Co., Ltd. (the “WFOE”)

				
	
					
						Address:

					
					
						X1301-E6803(JM), Building 1, No. 106 Fengze East Road, Nansha District, Guangzhou, China

				
	
					
						Legal Representative:

					
					
						Jianqiang Hu

				
	
					
						 

				
	
					
						Party C:

					
					
						Chengdu Luota Internet Technology Co., Ltd. (the “Company”)

				
	
					
						Address:

					
					
						1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China

				
	
					
						Legal Representative:

					
					
						Qunhua Ding

				

		
			 
		

		
			Party A, Party B and Party C respectively referred to as a “Party”, collectively referred to as “Parties”.
		

		
			WHEREAS:
		

		
			1.           The Shareholder is the present shareholder of the Company, which holds 1% equity of the Company;
		

		
			2.           The Shareholders intend to severally entrust the individual designated by WFOE with the exercise of their voting rights in the Company and WFOE is willing to designate such individual to accept such entrustment.
		

		
			THEREFORE, the Parties, after friendly consultations, hereby agree as follows:
		

		
			Article 1 Voting Right Entrustment
		

		
			1.1         The Shareholder hereby irrevocably undertakes to sign a power of attorney in the form and substance as set forth in Annex 1 after execution of this Agreement to entrust the individual designated by WFOE (hereinafter, the “Entrusted Person”) to exercise on their respective behalf the following rights they, as the shareholder of the Company, are entitled to under the then effective articles of association of the Company (collectively, the “Entrusted Rights”):
		

		
			(1)          Proposing to convene and attending shareholders’ meetings of the Company as the representative of the Shareholder according to the articles of association of the Company;
		

		
			(2)          On behalf of the Shareholder, exercising voting rights on all the issues needing to be discussed and resolved by the shareholders’ meetings of the Company, including but not limited to the appointment of the Company’s directors and other officers needing to be appointed and removed by shareholders;
		

		
			
		

		
			

		 

		

		
			(3)          Other voting rights of shareholder as provided by the laws and regulations of PRC (including their amendments, changes, additions and re-enactments, regardless of the time of their effectiveness before or after the execution of this Agreement);
		

		
			(4)          Exercise other shareholder voting rights as specified in the articles of association of the Company (including any other shareholder voting rights as specified in the amended articles of association).
		

		
			The above authorization and entrustment are granted subject to the status of the Entrusted Person as a PRC citizen and the approval by WFOE. Upon and only upon written notice of dismissing and replacing the Entrusted Person (s) given by WFOE to the Shareholder, the Shareholder shall promptly entrust another PRC citizen then designated by WFOE to exercise the above Entrusted Rights, and once new entrustment is made, the original entrustment shall be replaced. The Shareholder shall not cancel the authorization and entrustment for the Entrusted Person (s) otherwise.
		

		
			1.2         The Entrusted Person shall perform the fiduciary obligations within the scope of authorization with due care and diligence and in compliance with laws. The Shareholder acknowledges and assumes relevant liabilities for any legal consequences of the Entrusted Person’s exercise of the foregoing Entrusted Rights.
		

		
			1.3         The Shareholder hereby acknowledges that the Entrusted Person is not required to seek advice from the Shareholder prior to the exercise of the foregoing Entrusted Rights. However, the Entrusted Person shall inform the Shareholder in a timely manner of any resolution or any proposal on convening interim shareholders’ meeting after such resolution or proposal is made.
		

		
			Article 2 Right to Information
		

		
			2.1         For the purpose of exercising the Entrusted Rights hereunder, the Entrusted Person is entitled to know the information with regard to the Company’s operation, business, customers, finance, staff, etc., and shall have access to the relevant materials of the Company. The Company shall adequately cooperate with the Entrusted Person in this regard.
		

		
			Article 3 Exercise of Entrusted Rights
		

		
			3.1         The Shareholder will provide adequate assistance to the exercise of the Entrusted Rights by the Entrusted Person, including timely execution of the resolutions of the shareholders’ meeting of the Company adopted by the Entrusted Person or other related legal documents when necessary (e.g., when it is necessary for examination and approval of or registration or filing with governmental departments).
		

		
			
		

		
			

		 

		

		
			3.2         If at any time during the term of this Agreement, the grant or exercise of the Entrusted Rights hereunder is unenforceable for any reason (except for default of Shareholder or the Company), the Parties shall immediately seek a most similar substitute for the unenforceable provision and, if necessary, enter into a supplementary agreement to amend or adjust the provisions herein, in order to ensure the realization of the purpose of this Agreement.
		

		
			Article 4 Exemption and Compensation
		

		
			4.1         Pursuant to the Section 4.2, the Parties acknowledge that WFOE shall not be requested to be liable to or compensate (monetary or otherwise) other Parties or any third party due to exercise of the Entrusted Rights hereunder by the individuals designated by it.
		

		
			4.2         The Shareholder and the Company agree to indemnify and hold harmless WFOE from and against all losses incurred or likely to be incurred by it due to exercise of the Entrusted Rights by the Entrusted Person designated by WFOE, including without limitation, any loss resulting from any litigation, demand, arbitration or claim initiated or raised by any third party against it or from administrative investigation or penalty of governmental authorities (collectively, the “Losses”), PROVIDED THAT the above indemnity in respect of any Losses shall not be available to WFOE to the extent that such Losses have been caused by the willful default or gross negligence on the part of the Entrusted Person.
		

		
			Article 5 Representations and Warranties
		

		
			5.1         The Shareholder hereby represents and warrants that:
		

		
			5.1.1      It is a Chinese citizen with full capacity. It has the full and independent legal status and legal capacity to, and has been duly authorized to, execute, deliver and perform this Agreement. It may sue or be sued as an independent party.
		

		
			5.1.2      It has the full power and authority to execute and deliver this Agreement and all other documents relating to the transaction contemplated hereby and to be executed by it. It also has the full power and authority to consummate the transaction contemplated hereby. This Agreement, when duly executed and delivered, shall constitute a legal, valid and binding obligation enforceable against it in accordance with the terms of this Agreement.
		

		
			5.1.3      It is the recorded legal shareholder of the Company as of the effective date of this Agreement, and except for the rights under this Agreement, the Equity Pledge Agreement, the Exclusive Option Agreement and the Exclusive Assets Purchase Agreement entered into among the Shareholder, the Company and WFOE, the Entrusted Rights are free of any third-party right. Pursuant to this Agreement, the Entrusted Person may fully and sufficiently exercise the Entrusted Rights in accordance with the then effective articles of association of the Company.
		

		
			5.2.        Each of WFOE and the Company hereby represents and warrants that:
		

		
			
		

		
			

		 

		

		
			5.2.1       It is a limited liability company duly organized and validly existing under the PRC Law with an independent legal personality. It has the full and independent legal status and legal capacity to execute, deliver and perform this Agreement and may sue or be sued as an independent party.
		

		
			5.2.2      It has the full corporate power and authority to execute and deliver this Agreement and all other documents relating to the transaction contemplated hereby and to be executed by it. It also has the full power and authority to consummate the transaction contemplated hereby.
		

		
			5.3         The Company further represents and warrants that:
		

		
			5.3.1      The Shareholder is the recorded legal shareholder of the Company as of the effective date of this Agreement, and except for the rights under this Agreement, the Equity Pledge Agreement, the Exclusive Option Agreement and the Exclusive Assets Purchase Agreement entered into among the Shareholder, the Company and WFOE, the Entrusted Rights are free of any third-party right. Pursuant to this Agreement, the Entrusted Person may fully and sufficiently exercise the Entrusted Rights in accordance with the then effective articles of association of the Company.
		

		
			Article 6 Term
		

		
			6.1         Subject to the provisions of Articles 6.2 and 6.3 hereof, this Agreement shall become effective as of the date of the due execution by the Parties. Unless prematurely terminated by the Parties in writing or pursuant to Article 9.1 hereof, this Agreement shall remain in force.
		

		
			6.2         The Company or WFOE, within three months before expiry of its duration, shall handle the examination, approval and registration procedures concerning the extension of duration. If the Company or WFOE, upon expiry of its duration, fails to handle the examination, approval and registration procedures concerning the extension thereof, this Agreement shall be terminated.
		

		
			6.3         In case that the Shareholder transfers all of the equity interest held by it in the Company with WFOE’s prior consent, such Shareholder shall cease to be a party to this Agreement. If the Shareholder transfers all or parts of the equity interest held by it in the Company with WFOE’s prior consent, the Shareholder warrants that it shall obtain the written confirmation from the transferee, which agrees to inherit and fulfill all the responsibilities, obligations and commitments of such existing Shareholder under this Agreement.
		

		
			Article 7 Notices
		

		
			7.1         Any notice, request, demand and other communications required to be made or given under or pursuant to this Agreement shall be in writing and served on the relevant Party.
		

		
			
		

		
			

		 

		

		
			7.2         The above notices or other communications shall be deemed duly given or served: if sent by fax or telex, immediately upon transmission; if delivered in person, at the time of delivery; if posted by mail, five (5) days after posting.
		

		
			7.3         For the purpose of notice, all the notices, communications or other documents delivered to the parties of this Agreement shall be delivered to the following address or facsimile number of relevant Party:
		

		
			If send to the Company:
		

		
			Address: 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu 
		

		
			Telephone: Attention: 
		

		
			Qunhua Ding
		

		
			If send to WFOE:
		

		
			Address: 24/F, Building B-1, North Block of Wanda Plaza, No. 79 Wanbo Er Road, Nancun Town, Panyu District, Guangzhou, 
		

		
			Telephone: 
		

		
			Attention: Jianqiang Hu
		

		
			If send to the Shareholder:
		

		
			Address: ******
		

		
			Telephone: 
		

		
			Attention: ******
		

		
			Article 8 Confidentiality
		

		
			8.1         Regardless of whether this Agreement is terminated or not, each Party shall keep strictly confidential all the business secrets, proprietary information, customer information and other information of a confidential nature about the other Parties known by it during the execution and performance of this Agreement (collectively, the “Confidential Information”). The receiving Party shall not disclose any Confidential Information to any third party except with the prior written consent of the disclosing Party or in accordance with relevant laws or regulations or under requirements of the place where its affiliate is listed on a stock exchange. The receiving Party shall not use or indirectly use any Confidential Information other than for performing this Agreement.
		

		
			8.2         The following information shall not be deemed part of the Confidential Information:
		

		
			(a)    any information already known by the receiving Party by legal means prior to disclosure, which is substantiated in writing;
		

		
			
		

		
			

		 

		

		
			(b)    any information being part of public knowledge through no fault of the receiving Party; or
		

		
			(c)    any information rightfully received by the receiving Party from other sources after disclosure.
		

		
			8.3         The receiving Party may disclose the Confidential Information to its relevant employees, agents or engaged professionals, but the receiving Party shall guarantee that they are in compliance with the relevant terms and conditions of this Agreement and assume any responsibility arising from any breach thereof by them.
		

		
			8.4         Notwithstanding any other provision herein, the validity of this Article shall survive the termination of this Agreement.
		

		
			Article 9 Defaulting Liability
		

		
			9.1         The Parties agree and acknowledge that, if any of the Parties (the “Defaulting Party”) materially breaches any provision herein or materially fails to perform or delays performance of any of the obligations hereunder, such breach, failure or delay shall constitute a default under this Agreement (a “Default”). In such event, any of the other Parties without default (the “Non-defaulting Party”) shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of the Non-defaulting Party notifying the Defaulting Party in writing and requiring the Default to be rectified, then:
		

		
			9.1.1       if the Shareholder or the Company is the Defaulting Party, WFOE shall be entitled to terminate this Agreement and require the Defaulting Party to indemnify all damages;
		

		
			9.1.2      if WFOE is the Defaulting Party, the Non-defaulting Party shall be entitled to require the Defaulting Party to indemnify all damages, but the Non-defaulting Party shall not be entitled to any rights to terminate or cancel this Agreement in any situation unless otherwise provided by the mandatory provisions of the laws.
		

		
			9.2         Notwithstanding any other provision herein, the validity of this Article shall survive the suspension or termination of this Agreement.
		

		
			Article 10 Miscellaneous
		

		
			10.1       This Agreement is written in Chinese and executed in three (3) originals, with one (1) original to be retained by each Party hereto.
		

		
			10.2       The formation, validity and interpretation of, resolution of disputes in connection with, this Agreement, shall be governed by PRC Law.
		

		
			
		

		
			

		 

		

		
			10.3       Any dispute arising hereunder and in connection herewith shall be resolved through consultations among the Parties, and if the Parties fail to reach a mutual agreement within thirty (30) days of its occurrence, any Party may submit such dispute to Guangzhou Arbitration Commission for arbitration in accordance with its arbitration rules in effect at the time of applying for arbitration. The number of arbitrators should be one. If within 20 (20) days after the issuance of the notice of arbitration by any party to this Agreement, the parties refuse the designation of the arbitrator who has agreed to participate in the arbitration, Guangzhou Arbitration Commission shall appoint an arbitrator separately. The seat of arbitration shall be Guangzhou and the language used in arbitration proceedings shall be Chinese. The arbitral award shall be final and binding on the Parties.
		

		
			10.4       During dispute resolution, the Parties shall continue to exercise the rights of this Agreement and perform the terms of this Agreement other than those relating to disputes.
		

		
			10.5       Any right, power or remedy conferred on any Party by any provision of this Agreement shall not be exclusive of any other right, power or remedy available to it at law and under the other provisions of this Agreement, and the exercise by such Party of any of its rights, powers and remedies shall not preclude the exercise of any other rights, powers and remedies it may have.
		

		
			10.6       No failure or delay by a Party in exercising any of its rights, powers and remedies available to it hereunder or at law (hereinafter, the “Party’s Rights”) shall operate as a waiver thereof, nor shall the waiver of any single or partial exercise of the Party’s Rights shall preclude such Party from exercising such rights in any other way and exercising the remaining part of the Party’s Rights.
		

		
			10.7       The headings contained herein shall be for reference only, and in no circumstances shall such headings be used in or affect the interpretation of the provisions hereof.
		

		
			10.8       Each provision contained herein shall be severable and independent from each of other provisions, and if at any time any one or more provisions herein become invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions herein shall not be affected as a result thereof.
		

		
			10.9       Any amendment or supplement hereto shall be made in writing and shall become effective only upon due execution by the Parties hereto.
		

		
			10.10     Without WFOE’s prior written consent, any other Party shall not transfer any of its rights and/or obligations hereunder to any third party. The Shareholder and the Company hereby agree that WFOE is entitled to transfer any of its rights and/or obligations hereunder to any third party upon written notice thereof to the other Parties.
		

		
			10.11     This Agreement shall be binding on the legal assignees, successors or heirs of the Parties.
		

		
			
		

		
			

		 

		

		
			10.12     After the execution of this Agreement, if any government agency of PRC makes amendments to any of the laws, regulations, decrees or provisions of China, including amendments, additions or repeal of existing laws, regulations, decrees or regulations, or cites a different interpretation or a different implementation to any of the existing laws, regulations, decrees or regulations (respectively referred to as a “Modification”), or a new law, regulation, decree or regulation (respectively referred to as a “New Provision”), or any government agency proposes requirements or opinions that may have an impact to the performance of this Agreement, the following shall apply:
		

		
			(a)          if the Modification or New Provision is more favorable to the WFOE than the relevant laws, regulations, decrees or regulations that are effective as of the effective date of this Agreement, the parties shall promptly apply to the relevant institutions (if required) for the benefits of these Modification or New Provision. The parties should use their best efforts to get the application approved.
		

		
			(b)          if, due to the Modification or New Provision, the interests of the WFOE under this Agreement are seriously and adversely affected directly or indirectly, after the WFOE notifies the other parties, the parties shall promptly negotiate on the basis of the principle of good faith, and make all necessary modifications and adjustments to the terms or performance of this Agreement, in order to maximize the original commercial intentions of the parties under this Agreement and to maintain the interests of WFOE in this Agreement.
		

		
			(c)          if the requirements of any government agency may have a material adverse effect on the performance of this Agreement in accordance with the terms and conditions of this Agreement, the Shareholder and the Company shall use their best reasonable efforts to communicate with the relevant government agency in order to make this Agreement could be performed pursuant to the original terms and conditions, and the WFOE shall provide necessary assistance in such communication. If such communication is unavailable, all parties shall make timely negotiating on the basis of the principle of good faith, make all necessary modifications and reasonable adjustments to the terms or performance of this Agreement, in order to maximize the original commercial intentions of the parties under this Agreement and to maintain the interests of WFOE in this Agreement.
		

		
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			IN WITNESS WHEREOF , the Parties hereto have caused this Agreement to be executed as of the date first above written.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Party A:

					
					
						  

					
					
						Qunhua Ding

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						  

					
					
						/s/ Qunhua Ding

				
	
					
						 

					
					
						 

				
	
					
						Party B:

					
					
						  

					
					
						Guangzhou Wangxing Information Technology Co., Ltd.

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						  

					
					
						/s/ Jianqiang Hu

				
	
					
						Name:

					
					
						  

					
					
						Jianqiang Hu

				
	
					
						Title:

					
					
						  

					
					
						Legal Representative

				

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Party C:

					
					
						  

					
					
						Chengdu Luota Internet Technology Co., Ltd.

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						  

					
					
						/s/ Qunhua Ding

				
	
					
						Name:

					
					
						  

					
					
						Qunhua Ding

				
	
					
						Title:

					
					
						  

					
					
						Legal Representative

				

		
			 
		

		
			
		

		
			

		 

		

		
			Annex 1:
		

		
			Power of AttorneyYY_Ex4_59

		
			Exhibit 4.59
		

		
			 
		

		
			Equity Interest Pledge Agreement
		

		
			 
		

		
			This Equity Interest Pledge Agreement (this “ Agreement ”), dated July 31, 2019, is made in Guangzhou, the People’s Republic of China (the “ PRC ”), by and between:
		

		
			 
		

		
			A.    Jianqiang Hu, an individual with PRC nationality, ID Card number * (the “ Pledgor ”);
		

		
			 
		

		
			B.     Guangzhou Wangxing Information Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at X1301-E6803(JM), Building 1, No. 106 Fengze East Road, Nansha District, Guangzhou, China (the “ Beneficiary ”); and
		

		
			 
		

		
			C.     Chengdu Jiyue Internet Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China (the “ Domestic Company ”).
		

		
			 
		

		
			Pledgor, Beneficiary and Domestic Company shall be hereinafter individually referred to as a “Party”; collectively, the “Parties”.
		

		
			 
		

		
			PREAMBLE
		

		
			 
		

		
			The Domestic Company is a company specified in providing network technology, computer technology development, technical services; software development; electronic products, communication equipment, industrial automation control equipment technology development; technology intermediary services; electronic information technology services; animation design; power technology services; information system integration services; information technology consulting Services; data processing and storage services; sales: recreational equipment and entertainment supplies, cultural supplies (excluding books, newspapers, audiovisual products and electronic publications), electronic products, luggage, trinkets, small gifts (excluding licensed items), electrical equipment, arts and crafts (except ivory and its products), software, textiles and knitwear, clothing, stationery; ticketing agents; human resources agencies services (without relevant administrative permits, no business activities are allowed); organizing artistic exchange activities; literary and artistic creation; radio and television program production (without relevant administrative licenses, no business activities are allowed); value-added telecommunications business operations (without relevant administrative licenses, no business activities are allowed) (collectively, the “ Business ”). The Pledgor holds 99% of the equity interest in the registered capital of the Domestic Company.
		

		
			 
		

		
			The Parties have entered into a series of other main agreements related to this Agreement, as attached hereto as Exhibit 1 (the “ Main Agreements ”).
		

		
			 
		

		
			The Pledgor agrees to pledge all of the rights, titles and interest (“ Rights and Interests ”) vested in its equity interests in the Domestic Company, which represents 99% of the registered capital of the Domestic Company, to the Beneficiary as security for the performance of the payment obligations under the Main
		

		
			
		

		
			

		 

		

		
			 
		

		
			Agreements, and further agrees to enter into this Agreement, to secure all its obligation under the Main Agreements to the Beneficiary.
		

		
			 
		

		
			NOW, THEREFORE, the Parties agree as follows through negotiations:
		

		
			 
		

		
			1.           DEFINITIONS AND INTERPRETATIONS
		

		
			 
		

		
			1.1         Definitions. Unless otherwise provided, in this Agreement:
		

		
			 
		

		
			Business has the meaning assigned to it in the Preamble.
		

		
			 
		

		
			China means the People’s Republic of China.
		

		
			 
		

		
			Dispute has the meaning assigned to it in Section 15.2.
		

		
			 
		

		
			Encumbrance means any mortgage, charge, pledge, lien, assign, hypothecation, security interest, retention of title, option, preemptive right, right of first refusal, constraint, third party right or interest, any type of favorable arrangement (including transfer or retention of title that has similar effect), any type of other security agreement, arrangement, burden of right or dissent, or any agreement that sets forth above burden of right.
		

		
			 
		

		
			Event of Default has the meaning assigned to it in Section 5.
		

		
			 
		

		
			Exclusive Assets Purchase Agreement means the Exclusive Assets Purchase Agreement entered into on the same day of this Agreement by and between the Beneficiary, Domestic Company and Pledgor, according to which the Domestic Company agrees to grant an exclusive purchase right of purchasing its assets to the Beneficiary.
		

		
			 
		

		
			Exclusive Option Agreement means the Exclusive Option Agreement entered into on the same day of this Agreement by and between the Pledgor, Domestic Company and Beneficiary, according to which the Pledgor agrees to grant an exclusive option of purchasing its pledged equity right to the Beneficiary.
		

		
			 
		

		
			Governmental Approval means all license, permit, approval, ratification, consent, waiver or registration required or issued by PRC government authorities.
		

		
			 
		

		
			Notice of Default has the meaning assigned to it in Section 5.1.
		

		
			 
		

		
			Debt has the meaning assigned to it in Section 2.2.
		

		
			 
		

		
			Main Agreements has the meaning assigned to it in the Preamble, including the Exclusive Assets Purchase Agreement, the Exclusive Option Agreement, the Exclusive Business Cooperation Agreement and the Power of Attorney, as attached hereto as Exhibit 1.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			Pledge has the meaning assigned to it in Section 2.1.
		

		
			 
		

		
			Rights and Interests of Pledge has the meaning assigned to it in Section 2.1.
		

		
			 
		

		
			RMB means Renminbi, the official currency of PRC.
		

		
			 
		

		
			Term has the meaning assigned to it in Section 3.1.
		

		
			 
		

		
			1.2          Headings. All headings in this Agreement are for convenience only and shall not affect the interpretation of this Agreement.
		

		
			 
		

		
			1.3          Interpretations. Unless otherwise provided, below words, expressions and references shall have the following meanings:
		

		
			 
		

		
			(a)When referring to the terms and exhibits of this Agreement, it shall also include such terms and exhibits as amended from time to time.
		

		
			 
		

		
			(b)When referring to this Agreement or other agreement or document, it shall also include the modifications, remarks or supplements to this Agreement or other agreement or document from time to time.
		

		
			 
		

		
			(c)When referring to any law or statutory provision, it shall also include any revision, extension, combination or replacement related to such law or provision, and any law or provision that revise, extend, combine or replace the first law or provision, and also include orders, ordinances, instructions or other subordinate legislation promulgated in accordance with relevant law or provisions.
		

		
			 
		

		
			(d)Singular form shall also include plural form and vice versa.
		

		
			 
		

		
			(e)Person include individual, proprietorship, partnership, joint venture, company, joint-stock company, unincorporated organization, state and government organs, and its assignee, transferee or successor.
		

		
			 
		

		
			(f)Include and especially are special terms for description or emphasis purposes only, and shall not limit any provision in any way.
		

		
			 
		

		
			(g)This Agreement is drafted jointly by the Parties. No narrow interpretation rule shall be applied to any Party.
		

		
			 
		

		
			2.            RIGHTS AND INTERESTS OF PLEDGE
		

		
			 
		

		
			2.1          The Pledgor hereby pledges any and all equity interests and rights, titles and interests of pledgee, as well as any right attached thereto (collectively, the “ Rights and Interests of Pledge ”) of the Domestic Company owned by it now and acquired in the future to the Beneficiary and its successor as
		

		
			
		

		
			

		 

		

		
			 
		

		
			security for the Pledgor’s repayment and performance of the Pledgor’s debt and obligations (the “ Pledge ”).
		

		
			 
		

		
			2.2           This Agreement and the Pledge provided herein are to secure: (a) the obligations of the Pledgor and Domestic Company under the Main Agreement (collectively, the “ Debt ”); (b) all direct, indirect, consequential and foreseeable loss incurred by the Beneficiary and its successor due to any Event of Default on the part of the Pledgor and/or Domestic Company. The amount of such loss shall be calculated based on, among others, reasonable business plan and profit forecast of the Beneficiary and its successor, and the cooperation reward payable by Domestic Company under the Exclusive Business Cooperation Agreement; (c) disbursement by the Beneficiary and its successor on realizing their right of pledgee obtained under this Agreement; and (d) other obligations that the Pledgor assumes under this Agreement.
		

		
			 
		

		
			2.3           The effectiveness of the security: (a) the effectiveness of the security provided under this Agreement shall not be affected by any modification or changes to any of the Main Agreements, and the security provided under this Agreement remains effective for all obligations of the Pledgor and Domestic Company under such modified Main Agreements; (b) the invalidation, repeal or cancellation of the Main Agreements shall not affect the effectiveness of this Agreement. If any of the Main Agreements becomes null or invalid, or is repealed or cancelled, or the Pledgor and/or Domestic Company fails to perform its obligation, the Beneficiary is entitled to realize the right of pledge in line with this Agreement forthwith.
		

		
			 
		

		
			3.             PLEDGE TERM
		

		
			 
		

		
			3.1           This Pledge becomes effective immediately after the equity interests pledged hereunder is recorded on the share register of the Domestic Company, and remains valid until the Pledgor and Domestic Company fully performed their obligations under this Agreement and the Main Agreements, or the Beneficiary realize all of its right of pledge provided under this Agreement (the “ Term ”).
		

		
			 
		

		
			3.2           Within fifteen (15) working days upon the execution of this Agreement, the Pledgor and Domestic Company shall record the equity interests pledge on the share register of the Company, and register the Pledge with the State Administration for Industry and Commerce (or Guangzhou local industry and commerce administration authority).
		

		
			 
		

		
			4.             PERFECTION OF THE PLEDGE
		

		
			 
		

		
			4.1          Upon request of the Beneficiary, the Pledgor hereby undertakes to sign all certificates, agreements, covenants, undertakings or notices, and procure other Parties or individuals to sign all certificates, agreements, covenants, undertakings or notices requested by the Beneficiary, to facilitate the perfection or exercise of the Beneficiary’s rights provided in this Agreement.
		

		
			 
		

		
			4.2           Upon the execution of this Agreement, the Pledgor shall sign and deliver its capital contribution certificate (the “ Capital Contribution Certificate ”) in the form provided in the Exhibit 2 of this Agreement, and the share register of the Domestic Company (the “ Share Register ”) in the form provided in the Exhibit 3 of this Agreement. The Beneficiary shall remain the custodian of such documents throughout the whole Term of this Agreement.
		

		
			
		

		
			

		 

		

		
			 
		

		
			4.3          Within three (3) working days upon the completion of the registration of the Pledge, the Pledgor and Beneficiary shall notarize the Pledge under this Agreement with competent notary public.
		

		
			 
		

		
			4.4          The Pledgor, Domestic Company and WFOE shall register the Pledge within fifteen working days upon the execution of this Agreement.
		

		
			 
		

		
			5.            THE ENFORCEMENT OF THE PLEDGE
		

		
			 
		

		
			5.1          If the Pledgor finds any Event of Default, the Pledgor shall forthwith notify the Beneficiary in writing. Upon the occurrence of any Event of Default, or any time thereafter, the Beneficiary is entitled to deliver written notice of default (the “Notice of Default”) to the Pledgor. The Notice of Default may require the Pledgor pay to the Beneficiary due and payable amounts and other due payment obligations immediately. For the purpose of this Agreement, “Event of Default” shall mean one or more of following situations:
		

		
			 
		

		
			(a)The Pledgor or Domestic Company breaches any provision of the Main Agreements or this Agreement, including but not limited to the Main Agreements, and representations, warranties and undertakings in this Agreement;
		

		
			 
		

		
			(b)The Main Agreements are invalidated, repealed cancelled or terminated;
		

		
			 
		

		
			(c)The pledgor abandons the pledged equity or transfers or otherwise disposes of Rights and Interests of Pledge without the written consent of the beneficiary;
		

		
			 
		

		
			(d)The Domestic Company suspends its operation, is liquidated or wind-up, or is ordered to suspend its operation, to be liquidated or wind-up;
		

		
			 
		

		
			(e)The Pledgor is involved in any disputes, litigations, arbitrations or administrative proceedings or any other legal proceedings related to the Rights and Interests of Pledge, which is considered by the Beneficiary or its successor to be possible to create adverse effect on the performance of the Pledgor’s obligations under this Agreement; and other events provided by law.
		

		
			 
		

		
			5.2         After the delivery of Notice of Default in accordance with this Agreement, the Beneficiary or its authorized agent may decide, at its sole discretion, to exercise any of below rights, remedies and powers, without further notify the Pledgor:
		

		
			 
		

		
			(a)Subject to the terms and conditions of this Agreement, obtain all rights, titles and interests of the Rights and Interests of Pledge, and terminates all rights of the Pledgor related to such rights and interests or equity interest; or, when the law provides that the Beneficiary is not allowed to hold all or any of the Rights and Interests of Pledge, transfer the Rights and Interests of Pledge to a third party designated by the Beneficiary to remedy the non-performance of the main obligation of the Pledgor.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			(b)At its own discretion, exercise all power of voting, rights of the artificial person and other rights in the general meeting of the Domestic Company or other meetings which may affect the Rights and Interests of Pledge and equity interest, where all such rights of the Pledgor related to the Rights and Interests of Pledge and equity interest shall be suspended;
		

		
			 
		

		
			(c)At its own discretion, exercise all rights of conversion, sales, transfer, subscription, and other rights, powers, privileges or options, where all such rights of the Pledgor related to the Rights and Interests of Pledge and equity interest shall be suspended;
		

		
			 
		

		
			(d)Receive from the Pledgor all proceeds generated from the Rights and Interests of Pledge and equity interest, including dividends, interests or any other sums, where all such rights of the Pledgor related to the Rights and Interests of Pledge and equity interest shall be suspended;
		

		
			 
		

		
			(e)Sell, grant the right of purchase, assign, deliver, transfer or dispose in any other way the entire or any portion of the Rights and Interests of Pledge and equity interest, through public or internal sales, without publishing advertisements or notifying the intention, time and venue of the sales, and without sending performance requests to the other Party;
		

		
			 
		

		
			(f)Sell, grant the right of purchase, assign, deliver, transfer or dispose in any other way the entire or any portion of the Rights and Interests of Pledge and equity interest, through public or internal sales, in exchange of cash, sales on credit, other assets or other consideration or terms or conditions solely decided by the Beneficiary upon the delivery or future deliveries;
		

		
			 
		

		
			(g)Exercise any power granted to the Pledgor by any law, agreement, contract or articles of associations of the Domestic Company, where the Pledgor shall suspend its exercise of such power;
		

		
			 
		

		
			(h)To exercise the powers granted by this Agreement, conduct any action that is necessary, contingent or auxiliary to the exercise of such powers;
		

		
			 
		

		
			(i)Exercise all powers of vote, consent and other powers of the ownership related to the Rights and Interests of Pledge and equity interest, including all powers required for replacing the directors of the Domestic Company; and
		

		
			 
		

		
			(j)Subject to applicable laws, perform all actions required to exercise, perform and enforce the Pledge provided under this Agreement.
		

		
			 
		

		
			5.3          The rights and remedies provided above are rights and remedies in addition to all rights and remedies that the Beneficiary can obtain in accordance with applicable law. Under this Section 5, the rights and remedies provided above are only sample instances of the rights, remedies and powers enjoyed by the Beneficiary, and shall not be understood as limiting the rights, remedies and powers actually enjoyed by the Beneficiary in any way.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			5.4          Upon the request of the Beneficiary, execute all necessary documents required to dispose the Rights and Interests of Pledge or equity interest in accordance with the terms and conditions of this Agreement, and take other measures required to dispose the Rights and Interests of Pledge or equity interest.
		

		
			 
		

		
			6.            DISBURSEMENTS AND COSTS
		

		
			 
		

		
			6.1         All actual disbursements related to the grant and enforcement of the Pledge provided in this Agreement, including stamp tax, other tax and legal fees, shall be borne by the respective Party.
		

		
			 
		

		
			7.            POWER OF VOTING
		

		
			 
		

		
			7.1           Power of Voting
		

		
			 
		

		
			(a)During the Term of this Agreement, no power of voting shall be vested in, or exercised by, the Pledgor.
		

		
			 
		

		
			(b)The Pledgor hereby authorizes the Beneficiary, during the Term of this Agreement, to exercise the right of voting in each general meeting of the Domestic Company, whether such general meeting is ordinary or special. The Pledgor hereby authorizes the Beneficiary to exercise all documents required for the Beneficiary to exercise the Pledgor’s right of voting and other rights as the shareholder of the Domestic Company, and take all such measures required for the Beneficiary to exercise the Pledgor’s right of voting and other rights as the shareholder of the Domestic Company. The Pledgor shall immediately notify the Beneficiary in writing upon the Pledgor’s receipt of any notice of general meeting in accordance with the articles of association of the Domestic Company.
		

		
			 
		

		
			8.            REPRESENTATIONS AND WARRANTIES
		

		
			 
		

		
			8.1           Reliance Confirmation. The Pledgor hereby confirms that the Beneficiary entered in to this Agreement entirely relying on the representations and warranties made under this Section 8.
		

		
			 
		

		
			8.2           Representations and Warranties. The Pledgor represents and warrants to the Beneficiary as follows:
		

		
			 
		

		
			(a)The Pledgor is competent in executing and performing this Agreement. The Pledgor has obtained all necessary and appropriate approvals and authorizations require for the execution and performance of this Agreement.
		

		
			 
		

		
			(b)This Agreement constitutes legal and binding and enforceable obligations of the Pledgor in line with its terms and provisions.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			(c)To the best knowledge of the Pledgor, unless otherwise disclosed in writing to the other Parties by the Pledgor, the Pledgor is currently not involved in any disputes, litigations, arbitrations, administrative litigations or any other legal proceedings.
		

		
			 
		

		
			(d)Except for debts arising from the ordinary business of the Domestic Company and the debts already disclosed to, and approved in writing by, the Beneficiary, the Domestic Company has no other outstanding debts;
		

		
			 
		

		
			(e)Except for the Rights and Interests of Pledge pledged to the Beneficiary and the exclusive option granted to the Beneficiary under the Exclusive Option Agreement, the Pledgor has not pledge, assign or by any other means transfer the Rights and Interests of Pledge to any third party;
		

		
			 
		

		
			(f)During the Term of this Agreement, except for the exclusive purchase right granted to the Beneficiary under the Exclusive Assets Purchase Agreement, the Pledgor has used and will use its best endeavor to ensure that the Domestic Company has not charged, pledged or in any other way disposed the assets of the Domestic Company, and will not charge, pledge or in any other way dispose such assets, unless within the ordinary course of business;
		

		
			 
		

		
			(g)The Pledgor is the sole legitimate and registered owner of the equity interest of the Rights and Interests of Pledge.
		

		
			 
		

		
			(h)The Pledgor has good and marketable title over the Rights and Interests of Pledge with no lien or other security interests, except for the Rights and Interests of Pledge pledged to the Beneficiary under this Agreement, and the exclusive purchase right granted to the Beneficiary under the Exclusive Option Agreement.
		

		
			 
		

		
			(i)The pledge, assign or delivery of the Rights and Interests of Pledge in accordance with this Agreement will create valid absolute priority lien and absolute priority perfect security interest to guarantee the repayment of the Debt.
		

		
			 
		

		
			8.3          Repeated Application. After the execution of this Agreement, the representations and warranties provided in Section 8.2 of this Agreement shall be continuously valid. Such representations and warranties shall be deemed as true and valid representations and warranties throughout the Term of this Agreement.
		

		
			 
		

		
			9.            AFFIRMATIVE COVENANTS
		

		
			 
		

		
			9.1          During the Term of this Agreement, the Pledgor irrevocably undertakes as follows:
		

		
			 
		

		
			(a)The Pledgor shall comply with the provisions of this Agreement and perform other obligations under the Main Agreements, and shall not make any action or omission that may affect the existence or enforceability of this Agreement or any other Main Agreements;
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			(b)With regard to all claims other than the enforcement of this Agreement and the Exclusive Option Agreement, the Pledgor shall execute all necessary or appropriate documents, file all necessary or appropriate proceedings, make, or authorize the Beneficiary or its designated Persons upon the Beneficiary’s request to make, all necessary or appropriate defense, and take any and all other necessary appropriate measures, to ensure the ownership in the Rights and Interests of Pledge of the Pledgor;
		

		
			 
		

		
			(c)The Pledgor shall immediately notify the Beneficiary of any litigation, arbitration, administrative proceedings related to the Domestic Company or its equity interest;
		

		
			 
		

		
			(d)The Pledgor shall immediately notify the Beneficiary of any event which may possibly affect any portion of the Rights and Interests of Pledge enjoyed by the Beneficiary, or may possibly affect the obligation or security provided under this Agreement or other Main Agreements;
		

		
			 
		

		
			(e)The Pledgor shall not make any action or omission that may affect the operation and assets value of the Domestic Company during the Pledgor’s ordinary operation of the entire business of the Domestic Company;
		

		
			 
		

		
			(f)The Pledgor shall provide relevant documents regarding the operation and financial conditions of the Domestic Company upon the Beneficiary’s request;
		

		
			 
		

		
			(g)If required by the Beneficiary, the Pledgor shall purchase and retain insurances for the assets and business of the Domestic Company with the insurance companies qualified by the Beneficiary. The amount and type of insurances shall be consistent with those purchased by the companies of the same class;
		

		
			 
		

		
			(h)The Pledgor shall not distribute dividends to shareholders in any way without prior written consent of the Beneficiary. However, upon the request of the Beneficiary, the Pledgor shall immediately distribute all distributable profit to the shareholders, after which such shareholders shall pay or transfer such distribution to the Beneficiary or companies designated by the Beneficiary unconditionally; and
		

		
			 
		

		
			(i)In accordance with the request of the Beneficiary and subject to the laws of China, appoint any Person designated by the Beneficiary to be the legal representative, director or senior officers of the Domestic Company.
		

		
			 
		

		
			10.         NEGATIVE COVENANTS
		

		
			 
		

		
			10.1        The Pledgor irrevocably undertakes not to:
		

		
			 
		

		
			(a)In any way, whether directly or indirectly, sell, contract to sell, transfer, charge or dispose the Rights and Interests of Pledge, or set security interest against the Rights and Interests of
		

		
			
		

		
			

		 

		

		
			 
		

		
			Pledge, except for selling or transferring to the Beneficiary or its designated Person in line with this Agreement or the Exclusive Option Agreement;
		

		
			 
		

		
			(b)Procure the general meeting or board of directors to approve any sales, contract to sale, transfer, charge or disposal of the Rights and Interests of Pledge, or set any security interest against the Rights and Interests of Pledge, without prior written consent of the Beneficiary, except for selling or transferring to the Beneficiary or its designated Person in line with this Agreement or the Exclusive Option Agreement;
		

		
			 
		

		
			(c)Without prior written consent of the Beneficiary, or outside the ordinary course of business, procure the general meeting or board of directors to approve any sales, contract to sale, transfer, charge or disposal of the assets of the Domestic Company, except for selling or transferring to the Beneficiary or its designated Person in line with this Agreement or the Exclusive Assets Purchase Agreement;
		

		
			 
		

		
			(d)Without prior written consent of the Beneficiary, procure the supplement, change or revision of the articles of association and bylaws, increment or decrement of registered capital, or change the share structure, of the Domestic Company;
		

		
			 
		

		
			(e)Without prior written consent of the Beneficiary, assume, succeed, guarantee or accept any debt, except for (i) debts arising from ordinary or daily operation, which are not in the form of a loan; (ii) debts disclosed to and approved in writing by the Beneficiary;
		

		
			 
		

		
			(f)Without prior written consent of the Beneficiary, procure the Domestic Company to execute any material contract, except for those executed in the ordinary course of business;
		

		
			 
		

		
			(g)Without prior written consent of the Beneficiary, procure the Domestic Company to extend any loan or facility to any Person, except for those extended in the ordinary course of business;
		

		
			 
		

		
			(h)Without prior written consent of the Beneficiary, procure the Domestic Company to be merged with or acquired by any Person, or acquire or invest in any Person.
		

		
			 
		

		
			10.2       The Pledgor agrees that the rights obtained by the Beneficiary under this Agreement shall not be interrupted or impaired by any legal proceedings initiated by the Pledgor, its successors or its representatives.
		

		
			 
		

		
			11.         CHANGE OF CIRCUMSTANCES
		

		
			 
		

		
			11.1        As a supplement to the terms of this Agreement and not to conflict with the terms of this Agreement, anytime when China promulgates a law or makes any changes to a law, or the interpretation or application of such laws, or changes the procedures of relevant registration, thereby makes the Beneficiary consider the continuous effectiveness of this Agreement and/or disposing Rights and Interests of Pledge in accordance with this Agreement illegal or conflict with such laws, upon and in
		

		
			
		

		
			

		 

		

		
			 
		

		
			accordance with written instructions of the Beneficiary, the Pledgor shall immediately take measures and/or execute any agreements or other documents, to:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			Ensure the effectiveness of this Agreements;

		
			 
		

		
			(b)Assist in disposing the Rights and Interests of Pledge in accordance with this Agreement; and/or
		

		
			 
		

		
			(c)Retain or realize the purpose of this Agreement, or retain or realize the security interest created under this Agreement.
		

		
			 
		

		
			12.         NOTICE
		

		
			 
		

		
			12.1       All the notices and other communications pursuant to this Agreement shall be delivered to the following address of each Party in person, by registered mail, prepaid post, or commercial courier services, or facsimile. Each notice shall be confirmed with a respective email. Delivery shall be deemed to have occurred:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			Notices given in person, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of receipt, refusal or returned for any reason at the address specified for notices.

		
			 
		

			
	
			
				 (b)
			

			
	
			
			Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).

		
			 
		

		
			12.2        All the notices and other communications required by or sent pursuant to this Agreement shall be delivered to the following address or facsimile number of relevant Party by telegraph, facsimile or post:
		

		
			 
		

		
			(a)If send to the Pledgor:
		

		
			 
		

		
			Address: ******
		

		
			Telephone: ******
		

		
			Attention: ******
		

		
			 
		

		
			(b)If send to the Beneficiary:
		

		
			 
		

		
			Address: 29/F, Building B-1, North Block of Wanda Plaza, No. 79 Wanbo Er Road, Nancun Town, Panyu District, Guangzhou,
		

		
			Telephone: 
		

		
			Attention: Jianqiang Hu
		

		
			 
		

		
			(c)If send to the Domestic Company:
		

		
			
		

		
			

		 

		

		
			 
		

		
			Address: 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu
		

		
			Telephone:
		

		
			Attention: Qunhua Ding
		

		
			 
		

		
			13.          TRANSFER OF AGREEMENT
		

		
			 
		

		
			13.1        Unless with the prior written consent of the Beneficiary, the Pledgor has no right to grant or transfer any of its rights and obligations hereunder.
		

		
			 
		

		
			13.2        This Agreement shall be binding upon the Pledgor and its successors and assigns permitted by the Beneficiary, and inure to the benefit of the Pledgee and its successors and assigns.
		

		
			 
		

		
			13.3        If the Beneficiary is restructured for whatever reason, upon the request of the Beneficiary, the Pledgor shall enter into a new agreement containing the content substantially same to the terms and conditions of this Agreement with the restructured Beneficiary.
		

		
			 
		

		
			14.         CONFIDENTIALITY
		

		
			 
		

		
			14.1        Each Party recognizes and confirms this Agreement, the content of this Agreement, and any and all oral and written information exchanged among them for the preparation and performance of this Agreement shall be deemed as confidential information. Each Party shall hold in confidence all such confidential information, and without the written consent from the other Parties, should not disclose any confidential information to any third party, provided that, confidential information shall not include information that (a) is or becomes available to the public other than as a result of disclosure by the receiving Party in violation of this Contract, or (b) any information which must be disclosed pursuant to laws and regulations, stock trading rules, or as required by order or decree of governmental authorities or courts; or (c) any information disclosed by either Party to its shareholders, investors, legal or financial advisors in relation to the transactions contemplated herein, who are bound by confidentiality obligation similar to this provision. Any disclosure of confidential information by the professionals or institutions engaged by either Party shall be deemed as the disclosure by such Party, and such Party shall be held liable for breach.
		

		
			 
		

		
			14.2        This Section 14 shall survive the termination of this Agreement and remain in effect for two (2) years of such termination.
		

		
			 
		

		
			15.          APPLICABLE LAWS AND DISPUTE RESOLUTION
		

		
			 
		

		
			15.1        Applicable Laws. This Agreement, including its validity, rights and obligations of the Parties hereunder, shall be governed by and construed in accordance with the laws of the PRC.
		

		
			 
		

		
			15.2        Dispute Resolution. The Parties will firstly attempt in good faith to resolve any and all disputes arising out of or relating to this Agreement, including disputes related to the existence, validity, interpretation or termination (the “ Dispute ”), through friendly consultations. If a Dispute is not resolved
		

		
			
		

		
			

		 

		

		
			 
		

		
			through friendly consultations within thirty (30) days from the date a Party gives the other Party written notice of the Dispute, then each Party may submit the dispute to Guangzhou Arbitration Commission for arbitration in accordance with then effective arbitration rules. The number of arbitrators shall be one. If the Parties reject the assignment of arbitrator within twenty (20) days after any Party gives the notice of arbitration, Guangzhou Arbitration Commission shall assign another arbitrator. The arbitration shall be conducted in Guangzhou in Chinese. The award of the arbitration tribunal shall be final and binding upon the Parties.
		

		
			 
		

		
			16.          AMENDMENT AND WAIVER
		

		
			 
		

		
			16.1         Amendment. Any amendment to this Agreement shall be made in writing, and only takes effect after the execution by all Parties hereunder. The amendments and supplements duly executed by all the Parties constitute an integral part of this Agreement, and have the same legal effectiveness as this Agreement.
		

		
			 
		

		
			16.2         No Implied Waivers. To protect the rights and interests of the Beneficiary, when necessary, the Beneficiary may exercise the rights under this Agreement at any time, as such rights are in addition to any right provided by law to the Beneficiary. Unless expressly waived in writing by the Beneficiary, the rights of the Beneficiary shall not be waived. Any delay in exercising its rights by the Beneficiary shall not constitute the waiver of such right.
		

		
			 
		

		
			17.          MISCELLANEOUS PROVISIONS
		

		
			 
		

		
			17.1         Liability of Default. If the Pledgor breaches any provision of this Agreement, the Pledgor constitutes a default. The Beneficiary is then entitled to require the Obligor to assume consequences in accordance with this Agreement, including realizing the Pledge under this Agreement. Any breaching Party shall indemnify the other Parties for all direct economic losses arising from its default.
		

		
			 
		

		
			17.2         Further Assurances. On a legitimate and feasible basis, the Parties hereto agree to use all usable rights or powers and through reasonable endeavor to execute all necessary documents and do all such other things to ensure the completely, timely compliance and performance of the provisions and principles of this Agreement.
		

		
			 
		

		
			17.3         Entire Agreement. This Agreement and other Main Agreements constitute the entire agreement reached among the Parties relating to the Pledge hereof, and supersedes in their entirety all prior written and oral agreements and understandings among the Parties relating to the subject matter hereof. The exhibits are incorporated into this Agreement through reference and constitute an integral part of this Agreement.
		

		
			 
		

		
			17.4          Termination. This Agreement shall enter into its effectiveness upon execution. The Beneficiary is entitled to terminate this Agreement at its own discretion.
		

		
			 
		

		
			17.5         Severability and Replacement. If any single or multiple provisions hereof are judged invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality
		

		
			
		

		
			

		 

		

		
			 
		

		
			and enforceability of the remaining provisions of this Agreement shall not be affected in any aspect. The Parties shall in good faith, endeavor to use valid provisions to the extent allowed by laws and reflecting the intensions of all the Parties, to replace those invalid, illegal or unenforceable provisions, provided that, the economic effects achieved by such valid provisions shall be similar to the economic effects achieved by those invalid, illegal or unenforceable provisions.
		

		
			 
		

		
			17.6         Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any Party whose signature appears thereon, and all of which together shall constitute one and the same instrument. Counterparts delivered through email attachments or facsimile photocopies shall be deemed as effective deliveries.
		

		
			 
		

		
			17.7         Language. This Agreement is executed in the Chinese language.
		

		
			 
		

		
			(The remainder of this page left blank intentionally)
		

		
			 
		

		
			IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the date first above written.
		

		
			 
		

		
			PLEDGOR:
		

		
			 
		

		
			Signatory: /s/ Jianqiang Hu
		

		
			 
		

		
			Name: Jianqiang Hu
		

		
			 
		

		
			BENEFICIARY: Guangzhou Wangxing Information Technology Co., Ltd.
		

		
			 
		

		
			Signatory: /s/ Jianqiang Hu
		

		
			 
		

		
			Name: Jianqiang Hu
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			DOMESTIC COMPANY: Chengdu Jiyue Internet Technology Co., Ltd.
		

		
			 
		

		
			Signatory: /s/ Qunhua Ding
		

		
			 
		

		
			Name: Qunhua Ding
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 1
		

		
			 
		

		
			 Main Agreements
		

		
			 
		

		
			 
		

			
					
						Name of Agreement

					
					
						Parties

				
	
					
						Exclusive Assets Purchase Agreement

					
					
						Pledgor, Beneficiary and Domestic Company

				
	
					
						Exclusive Option Agreement

					
					
						Pledgor, Beneficiary and Domestic Company

				
	
					
						Exclusive Business Cooperation Agreement

					
					
						Domestic Company and Beneficiary

				
	
					
						Power of Attorney

					
					
						Pledgor

				
	
					
						Voting Proxy Agreement

					
					
						Pledgor, Beneficiary and Domestic Company

				

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 2
		

		
			 
		

		
			Capital Contribution Certificate
		

		
			of the Domestic Company
		

		
			 
		

		
			It is hereby certified that Jianqiang Hu (ID Card number:*) holds 99% equity interest of Chengdu Jiyue Internet Technology Co., Ltd., and such 99% equity interest has been pledged to the Beneficiary.
		

		
			 
		

		
			Signatory: /s/ Qunhua Ding
		

		
			 
		

		
			Name: Qunhua Ding
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			(Seal of Chengdu Jiyue Internet Technology Co., Ltd.)
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 3
		

		
			 
		

		
			Share Register
		

		
			of the Domestic Company
		

		
			 
		

		
			1.    Jianqiang Hu (ID Card number: *) holds 99% equity interest of Chengdu Jiyue Internet Technology Co., Ltd., and such 99% equity interest has been pledged to the Beneficiary.
		

		
			 
		

		
			2.    Qunhua Ding (ID Card number: *) holds 1% equity interest of Chengdu Jiyue Internet Technology Co., Ltd., and such 1% equity interest has been pledged to the Beneficiary.
		

		
			 
		

		
			Signatory: /s/ Qunhua Ding
		

		
			 
		

		
			Name: Qunhua Ding
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			(Seal of Chengdu Jiyue Internet Technology Co., Ltd.)
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			Equity Interest Pledge Agreement
		

		
			 
		

		
			This Equity Interest Pledge Agreement (this “ Agreement ”), dated July 31, 2019, is made in Guangzhou, the People’s Republic of China (the “ PRC ”), by and between:
		

		
			 
		

		
			A.    Qunhua Ding, an individual with PRC nationality, ID Card number * (the “ Pledgor ”);
		

		
			 
		

		
			B.    Guangzhou Wangxing Information Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at X1301-E6803(JM), Building 1, No. 106 Fengze East Road, Nansha District, Guangzhou, China (the “ Beneficiary ”); and
		

		
			 
		

		
			C.     Chengdu Jiyue Internet Technology Co., Ltd., a validly existing limited liability company duly incorporated under the PRC laws, with its registered address at 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu, China (the “ Domestic Company ”).
		

		
			 
		

		
			Pledgor, Beneficiary and Domestic Company shall be hereinafter individually referred to as a “Party”; collectively, the “Parties”.
		

		
			 
		

		
			PREAMBLE
		

		
			 
		

		
			The Domestic Company is a company specified in providing network technology, computer technology development, technical services; software development; electronic products, communication equipment, industrial automation control equipment technology development; technology intermediary services; electronic information technology services; animation design; power technology services; information system integration services; information technology consulting Services; data processing and storage services; sales: recreational equipment and entertainment supplies, cultural supplies (excluding books, newspapers, audiovisual products and electronic publications), electronic products, luggage, trinkets, small gifts (excluding licensed items), electrical equipment, arts and crafts (except ivory and its products), software, textiles and knitwear, clothing, stationery; ticketing agents; human resources agencies services (without relevant administrative permits, no business activities are allowed); organizing artistic exchange activities; literary and artistic creation; radio and television program production (without relevant administrative licenses, no business activities are allowed); value-added telecommunications business operations (without relevant administrative licenses, no business activities are allowed) (collectively, the “ Business ”). The Pledgor holds 1% of the equity interest in the registered capital of the Domestic Company.
		

		
			 
		

		
			The Parties have entered into a series of other main agreements related to this Agreement, as attached hereto as Exhibit 1 (the “ Main Agreements ”).
		

		
			 
		

		
			The Pledgor agrees to pledge all of the rights, titles and interest (“ Rights and Interests ”) vested in its equity interests in the Domestic Company, which represents 1% of the registered capital of the Domestic Company, to the Beneficiary as security for the performance of the payment obligations under the Main
		

		
			
		

		
			

		 

		

		
			 
		

		
			Agreements, and further agrees to enter into this Agreement, to secure all its obligation under the Main Agreements to the Beneficiary.
		

		
			 
		

		
			NOW, THEREFORE, the Parties agree as follows through negotiations:
		

		
			 
		

		
			1.           DEFINITIONS AND INTERPRETATIONS
		

		
			 
		

		
			1.1         Definitions. Unless otherwise provided, in this Agreement:
		

		
			 
		

		
			Business has the meaning assigned to it in the Preamble.
		

		
			 
		

		
			China means the People’s Republic of China.
		

		
			 
		

		
			Dispute has the meaning assigned to it in Section 15.2.
		

		
			 
		

		
			Encumbrance means any mortgage, charge, pledge, lien, assign, hypothecation, security interest, retention of title, option, preemptive right, right of first refusal, constraint, third party right or interest, any type of favorable arrangement (including transfer or retention of title that has similar effect), any type of other security agreement, arrangement, burden of right or dissent, or any agreement that sets forth above burden of right.
		

		
			 
		

		
			Event of Default has the meaning assigned to it in Section 5.
		

		
			 
		

		
			Exclusive Assets Purchase Agreement means the Exclusive Assets Purchase Agreement entered into on the same day of this Agreement by and between the Beneficiary, Domestic Company and Pledgor, according to which the Domestic Company agrees to grant an exclusive purchase right of purchasing its assets to the Beneficiary.
		

		
			 
		

		
			Exclusive Option Agreement means the Exclusive Option Agreement entered into on the same day of this Agreement by and between the Pledgor, Domestic Company and Beneficiary, according to which the Pledgor agrees to grant an exclusive option of purchasing its pledged equity right to the Beneficiary.
		

		
			 
		

		
			Governmental Approval means all license, permit, approval, ratification, consent, waiver or registration required or issued by PRC government authorities.
		

		
			 
		

		
			Notice of Default has the meaning assigned to it in Section 5.1.
		

		
			 
		

		
			Debt has the meaning assigned to it in Section 2.2.
		

		
			 
		

		
			Main Agreements has the meaning assigned to it in the Preamble, including the Exclusive Assets Purchase Agreement, the Exclusive Option Agreement, the Exclusive Business Cooperation Agreement and the Power of Attorney, as attached hereto as Exhibit 1.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			Pledge has the meaning assigned to it in Section 2.1.
		

		
			 
		

		
			Rights and Interests of Pledge has the meaning assigned to it in Section 2.1.
		

		
			 
		

		
			RMB means Renminbi, the official currency of PRC.
		

		
			 
		

		
			Term has the meaning assigned to it in Section 3.1.
		

		
			 
		

		
			1.2          Headings. All headings in this Agreement are for convenience only and shall not affect the interpretation of this Agreement.
		

		
			 
		

		
			1.3          Interpretations. Unless otherwise provided, below words, expressions and references shall have the following meanings:
		

		
			 
		

		
			(h)When referring to the terms and exhibits of this Agreement, it shall also include such terms and exhibits as amended from time to time.
		

		
			 
		

		
			(i)When referring to this Agreement or other agreement or document, it shall also include the modifications, remarks or supplements to this Agreement or other agreement or document from time to time.
		

		
			 
		

		
			(j)When referring to any law or statutory provision, it shall also include any revision, extension, combination or replacement related to such law or provision, and any law or provision that revise, extend, combine or replace the first law or provision, and also include orders, ordinances, instructions or other subordinate legislation promulgated in accordance with relevant law or provisions.
		

		
			 
		

		
			(k)Singular form shall also include plural form and vice versa.
		

		
			 
		

		
			(l)Person include individual, proprietorship, partnership, joint venture, company, joint-stock company, unincorporated organization, state and government organs, and its assignee, transferee or successor.
		

		
			 
		

		
			(m)Include and especially are special terms for description or emphasis purposes only, and shall not limit any provision in any way.
		

		
			 
		

		
			(n)This Agreement is drafted jointly by the Parties. No narrow interpretation rule shall be applied to any Party.
		

		
			 
		

		
			2.            RIGHTS AND INTERESTS OF PLEDGE
		

		
			 
		

		
			2.1          The Pledgor hereby pledges any and all equity interests and rights, titles and interests of pledgee, as well as any right attached thereto (collectively, the “ Rights and Interests of Pledge ”) of the Domestic Company owned by it now and acquired in the future to the Beneficiary and its successor as
		

		
			
		

		
			

		 

		

		
			 
		

		
			security for the Pledgor’s repayment and performance of the Pledgor’s debt and obligations (the “ Pledge ”).
		

		
			 
		

		
			2.2           This Agreement and the Pledge provided herein are to secure: (a) the obligations of the Pledgor and Domestic Company under the Main Agreement (collectively, the “ Debt ”); (b) all direct, indirect, consequential and foreseeable loss incurred by the Beneficiary and its successor due to any Event of Default on the part of the Pledgor and/or Domestic Company. The amount of such loss shall be calculated based on, among others, reasonable business plan and profit forecast of the Beneficiary and its successor, and the cooperation reward payable by Domestic Company under the Exclusive Business Cooperation Agreement; (c) disbursement by the Beneficiary and its successor on realizing their right of pledgee obtained under this Agreement; and (d) other obligations that the Pledgor assumes under this Agreement.
		

		
			 
		

		
			2.3           The effectiveness of the security: (a) the effectiveness of the security provided under this Agreement shall not be affected by any modification or changes to any of the Main Agreements, and the security provided under this Agreement remains effective for all obligations of the Pledgor and Domestic Company under such modified Main Agreements; (b) the invalidation, repeal or cancellation of the Main Agreements shall not affect the effectiveness of this Agreement. If any of the Main Agreements becomes null or invalid, or is repealed or cancelled, or the Pledgor and/or Domestic Company fails to perform its obligation, the Beneficiary is entitled to realize the right of pledge in line with this Agreement forthwith.
		

		
			 
		

		
			3.             PLEDGE TERM
		

		
			 
		

		
			3.1           This Pledge becomes effective immediately after the equity interests pledged hereunder is recorded on the share register of the Domestic Company, and remains valid until the Pledgor and Domestic Company fully performed their obligations under this Agreement and the Main Agreements, or the Beneficiary realize all of its right of pledge provided under this Agreement (the “ Term ”).
		

		
			 
		

		
			3.2           Within fifteen (15) working days upon the execution of this Agreement, the Pledgor and Domestic Company shall record the equity interests pledge on the share register of the Company, and register the Pledge with the State Administration for Industry and Commerce (or Guangzhou local industry and commerce administration authority).
		

		
			 
		

		
			4.             PERFECTION OF THE PLEDGE
		

		
			 
		

		
			4.1          Upon request of the Beneficiary, the Pledgor hereby undertakes to sign all certificates, agreements, covenants, undertakings or notices, and procure other Parties or individuals to sign all certificates, agreements, covenants, undertakings or notices requested by the Beneficiary, to facilitate the perfection or exercise of the Beneficiary’s rights provided in this Agreement.
		

		
			 
		

		
			4.2           Upon the execution of this Agreement, the Pledgor shall sign and deliver its capital contribution certificate (the “ Capital Contribution Certificate ”) in the form provided in the Exhibit 2 of this Agreement, and the share register of the Domestic Company (the “ Share Register ”) in the form provided in the Exhibit 3 of this Agreement. The Beneficiary shall remain the custodian of such documents throughout the whole Term of this Agreement.
		

		
			
		

		
			

		 

		

		
			 
		

		
			4.3          Within three (3) working days upon the completion of the registration of the Pledge, the Pledgor and Beneficiary shall notarize the Pledge under this Agreement with competent notary public.
		

		
			 
		

		
			4.4          The Pledgor, Domestic Company and WFOE shall register the Pledge within fifteen working days upon the execution of this Agreement.
		

		
			 
		

		
			5.            THE ENFORCEMENT OF THE PLEDGE
		

		
			 
		

		
			5.1          If the Pledgor finds any Event of Default, the Pledgor shall forthwith notify the Beneficiary in writing. Upon the occurrence of any Event of Default, or any time thereafter, the Beneficiary is entitled to deliver written notice of default (the “Notice of Default”) to the Pledgor. The Notice of Default may require the Pledgor pay to the Beneficiary due and payable amounts and other due payment obligations immediately. For the purpose of this Agreement, “Event of Default” shall mean one or more of following situations:
		

		
			 
		

		
			(f)The Pledgor or Domestic Company breaches any provision of the Main Agreements or this Agreement, including but not limited to the Main Agreements, and representations, warranties and undertakings in this Agreement;
		

		
			 
		

		
			(g)The Main Agreements are invalidated, repealed cancelled or terminated;
		

		
			 
		

		
			(h)The pledgor abandons the pledged equity or transfers or otherwise disposes of Rights and Interests of Pledge without the written consent of the beneficiary;
		

		
			 
		

		
			(i)The Domestic Company suspends its operation, is liquidated or wind-up, or is ordered to suspend its operation, to be liquidated or wind-up;
		

		
			 
		

		
			(j)The Pledgor is involved in any disputes, litigations, arbitrations or administrative proceedings or any other legal proceedings related to the Rights and Interests of Pledge, which is considered by the Beneficiary or its successor to be possible to create adverse effect on the performance of the Pledgor’s obligations under this Agreement; and other events provided by law.
		

		
			 
		

		
			5.2         After the delivery of Notice of Default in accordance with this Agreement, the Beneficiary or its authorized agent may decide, at its sole discretion, to exercise any of below rights, remedies and powers, without further notify the Pledgor:
		

		
			 
		

		
			(k)Subject to the terms and conditions of this Agreement, obtain all rights, titles and interests of the Rights and Interests of Pledge, and terminates all rights of the Pledgor related to such rights and interests or equity interest; or, when the law provides that the Beneficiary is not allowed to hold all or any of the Rights and Interests of Pledge, transfer the Rights and Interests of Pledge to a third party designated by the Beneficiary to remedy the non-performance of the main obligation of the Pledgor.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			(l)At its own discretion, exercise all power of voting, rights of the artificial person and other rights in the general meeting of the Domestic Company or other meetings which may affect the Rights and Interests of Pledge and equity interest, where all such rights of the Pledgor related to the Rights and Interests of Pledge and equity interest shall be suspended;
		

		
			 
		

		
			(m)At its own discretion, exercise all rights of conversion, sales, transfer, subscription, and other rights, powers, privileges or options, where all such rights of the Pledgor related to the Rights and Interests of Pledge and equity interest shall be suspended;
		

		
			 
		

		
			(n)Receive from the Pledgor all proceeds generated from the Rights and Interests of Pledge and equity interest, including dividends, interests or any other sums, where all such rights of the Pledgor related to the Rights and Interests of Pledge and equity interest shall be suspended;
		

		
			 
		

		
			(o)Sell, grant the right of purchase, assign, deliver, transfer or dispose in any other way the entire or any portion of the Rights and Interests of Pledge and equity interest, through public or internal sales, without publishing advertisements or notifying the intention, time and venue of the sales, and without sending performance requests to the other Party;
		

		
			 
		

		
			(p)Sell, grant the right of purchase, assign, deliver, transfer or dispose in any other way the entire or any portion of the Rights and Interests of Pledge and equity interest, through public or internal sales, in exchange of cash, sales on credit, other assets or other consideration or terms or conditions solely decided by the Beneficiary upon the delivery or future deliveries;
		

		
			 
		

		
			(q)Exercise any power granted to the Pledgor by any law, agreement, contract or articles of associations of the Domestic Company, where the Pledgor shall suspend its exercise of such power;
		

		
			 
		

		
			(r)To exercise the powers granted by this Agreement, conduct any action that is necessary, contingent or auxiliary to the exercise of such powers;
		

		
			 
		

		
			(s)Exercise all powers of vote, consent and other powers of the ownership related to the Rights and Interests of Pledge and equity interest, including all powers required for replacing the directors of the Domestic Company; and
		

		
			 
		

		
			(t)Subject to applicable laws, perform all actions required to exercise, perform and enforce the Pledge provided under this Agreement.
		

		
			 
		

		
			5.3          The rights and remedies provided above are rights and remedies in addition to all rights and remedies that the Beneficiary can obtain in accordance with applicable law. Under this Section 5, the rights and remedies provided above are only sample instances of the rights, remedies and powers enjoyed by the Beneficiary, and shall not be understood as limiting the rights, remedies and powers actually enjoyed by the Beneficiary in any way.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			5.4          Upon the request of the Beneficiary, execute all necessary documents required to dispose the Rights and Interests of Pledge or equity interest in accordance with the terms and conditions of this Agreement, and take other measures required to dispose the Rights and Interests of Pledge or equity interest.
		

		
			 
		

		
			6.            DISBURSEMENTS AND COSTS
		

		
			 
		

		
			6.1         All actual disbursements related to the grant and enforcement of the Pledge provided in this Agreement, including stamp tax, other tax and legal fees, shall be borne by the respective Party.
		

		
			 
		

		
			7.            POWER OF VOTING
		

		
			 
		

		
			7.1          Power of Voting
		

		
			 
		

		
			(c)During the Term of this Agreement, no power of voting shall be vested in, or exercised by, the Pledgor.
		

		
			 
		

		
			(d)The Pledgor hereby authorizes the Beneficiary, during the Term of this Agreement, to exercise the right of voting in each general meeting of the Domestic Company, whether such general meeting is ordinary or special. The Pledgor hereby authorizes the Beneficiary to exercise all documents required for the Beneficiary to exercise the Pledgor’s right of voting and other rights as the shareholder of the Domestic Company, and take all such measures required for the Beneficiary to exercise the Pledgor’s right of voting and other rights as the shareholder of the Domestic Company. The Pledgor shall immediately notify the Beneficiary in writing upon the Pledgor’s receipt of any notice of general meeting in accordance with the articles of association of the Domestic Company.
		

		
			 
		

		
			8.            REPRESENTATIONS AND WARRANTIES
		

		
			 
		

		
			8.1          Reliance Confirmation. The Pledgor hereby confirms that the Beneficiary entered in to this Agreement entirely relying on the representations and warranties made under this Section 8.
		

		
			 
		

		
			8.2          Representations and Warranties. The Pledgor represents and warrants to the Beneficiary as follows:
		

		
			 
		

		
			(j)The Pledgor is competent in executing and performing this Agreement. The Pledgor has obtained all necessary and appropriate approvals and authorizations require for the execution and performance of this Agreement.
		

		
			 
		

		
			(k)This Agreement constitutes legal and binding and enforceable obligations of the Pledgor in line with its terms and provisions.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			(l)To the best knowledge of the Pledgor, unless otherwise disclosed in writing to the other Parties by the Pledgor, the Pledgor is currently not involved in any disputes, litigations, arbitrations, administrative litigations or any other legal proceedings.
		

		
			 
		

		
			(m)Except for debts arising from the ordinary business of the Domestic Company and the debts already disclosed to, and approved in writing by, the Beneficiary, the Domestic Company has no other outstanding debts;
		

		
			 
		

		
			(n)Except for the Rights and Interests of Pledge pledged to the Beneficiary and the exclusive option granted to the Beneficiary under the Exclusive Option Agreement, the Pledgor has not pledge, assign or by any other means transfer the Rights and Interests of Pledge to any third party;
		

		
			 
		

		
			(o)During the Term of this Agreement, except for the exclusive purchase right granted to the Beneficiary under the Exclusive Assets Purchase Agreement, the Pledgor has used and will use its best endeavor to ensure that the Domestic Company has not charged, pledged or in any other way disposed the assets of the Domestic Company, and will not charge, pledge or in any other way dispose such assets, unless within the ordinary course of business;
		

		
			 
		

		
			(p)The Pledgor is the sole legitimate and registered owner of the equity interest of the Rights and Interests of Pledge.
		

		
			 
		

		
			(q)The Pledgor has good and marketable title over the Rights and Interests of Pledge with no lien or other security interests, except for the Rights and Interests of Pledge pledged to the Beneficiary under this Agreement, and the exclusive purchase right granted to the Beneficiary under the Exclusive Option Agreement.
		

		
			 
		

		
			(r)The pledge, assign or delivery of the Rights and Interests of Pledge in accordance with this Agreement will create valid absolute priority lien and absolute priority perfect security interest to guarantee the repayment of the Debt.
		

		
			 
		

		
			8.3           Repeated Application. After the execution of this Agreement, the representations and warranties provided in Section 8.2 of this Agreement shall be continuously valid. Such representations and warranties shall be deemed as true and valid representations and warranties throughout the Term of this Agreement.
		

		
			 
		

		
			9.            AFFIRMATIVE COVENANTS
		

		
			 
		

		
			9.1          During the Term of this Agreement, the Pledgor irrevocably undertakes as follows:
		

		
			 
		

		
			(j)The Pledgor shall comply with the provisions of this Agreement and perform other obligations under the Main Agreements, and shall not make any action or omission that may affect the existence or enforceability of this Agreement or any other Main Agreements;
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			(k)With regard to all claims other than the enforcement of this Agreement and the Exclusive Option Agreement, the Pledgor shall execute all necessary or appropriate documents, file all necessary or appropriate proceedings, make, or authorize the Beneficiary or its designated Persons upon the Beneficiary’s request to make, all necessary or appropriate defense, and take any and all other necessary appropriate measures, to ensure the ownership in the Rights and Interests of Pledge of the Pledgor;
		

		
			 
		

		
			(l)The Pledgor shall immediately notify the Beneficiary of any litigation, arbitration, administrative proceedings related to the Domestic Company or its equity interest;
		

		
			 
		

		
			(m)The Pledgor shall immediately notify the Beneficiary of any event which may possibly affect any portion of the Rights and Interests of Pledge enjoyed by the Beneficiary, or may possibly affect the obligation or security provided under this Agreement or other Main Agreements;
		

		
			 
		

		
			(n)The Pledgor shall not make any action or omission that may affect the operation and assets value of the Domestic Company during the Pledgor’s ordinary operation of the entire business of the Domestic Company;
		

		
			 
		

		
			(o)The Pledgor shall provide relevant documents regarding the operation and financial conditions of the Domestic Company upon the Beneficiary’s request;
		

		
			 
		

		
			(p)If required by the Beneficiary, the Pledgor shall purchase and retain insurances for the assets and business of the Domestic Company with the insurance companies qualified by the Beneficiary. The amount and type of insurances shall be consistent with those purchased by the companies of the same class;
		

		
			 
		

		
			(q)The Pledgor shall not distribute dividends to shareholders in any way without prior written consent of the Beneficiary. However, upon the request of the Beneficiary, the Pledgor shall immediately distribute all distributable profit to the shareholders, after which such shareholders shall pay or transfer such distribution to the Beneficiary or companies designated by the Beneficiary unconditionally; and
		

		
			 
		

		
			(r)In accordance with the request of the Beneficiary and subject to the laws of China, appoint any Person designated by the Beneficiary to be the legal representative, director or senior officers of the Domestic Company.
		

		
			 
		

		
			10.         NEGATIVE COVENANTS
		

		
			 
		

		
			10.1        The Pledgor irrevocably undertakes not to:
		

		
			 
		

		
			(i)In any way, whether directly or indirectly, sell, contract to sell, transfer, charge or dispose the Rights and Interests of Pledge, or set security interest against the Rights and Interests of
		

		
			
		

		
			

		 

		

		
			 
		

		
			Pledge, except for selling or transferring to the Beneficiary or its designated Person in line with this Agreement or the Exclusive Option Agreement;
		

		
			 
		

		
			(j)Procure the general meeting or board of directors to approve any sales, contract to sale, transfer, charge or disposal of the Rights and Interests of Pledge, or set any security interest against the Rights and Interests of Pledge, without prior written consent of the Beneficiary, except for selling or transferring to the Beneficiary or its designated Person in line with this Agreement or the Exclusive Option Agreement;
		

		
			 
		

		
			(k)Without prior written consent of the Beneficiary, or outside the ordinary course of business, procure the general meeting or board of directors to approve any sales, contract to sale, transfer, charge or disposal of the assets of the Domestic Company, except for selling or transferring to the Beneficiary or its designated Person in line with this Agreement or the Exclusive Assets Purchase Agreement;
		

		
			 
		

		
			(l)Without prior written consent of the Beneficiary, procure the supplement, change or revision of the articles of association and bylaws, increment or decrement of registered capital, or change the share structure, of the Domestic Company;
		

		
			 
		

		
			(m)Without prior written consent of the Beneficiary, assume, succeed, guarantee or accept any debt, except for (i) debts arising from ordinary or daily operation, which are not in the form of a loan; (ii) debts disclosed to and approved in writing by the Beneficiary;
		

		
			 
		

		
			(n)Without prior written consent of the Beneficiary, procure the Domestic Company to execute any material contract, except for those executed in the ordinary course of business;
		

		
			 
		

		
			(o)Without prior written consent of the Beneficiary, procure the Domestic Company to extend any loan or facility to any Person, except for those extended in the ordinary course of business;
		

		
			 
		

		
			(p)Without prior written consent of the Beneficiary, procure the Domestic Company to be merged with or acquired by any Person, or acquire or invest in any Person.
		

		
			 
		

		
			10.2       The Pledgor agrees that the rights obtained by the Beneficiary under this Agreement shall not be interrupted or impaired by any legal proceedings initiated by the Pledgor, its successors or its representatives.
		

		
			 
		

		
			11.         CHANGE OF CIRCUMSTANCES
		

		
			 
		

		
			11.1        As a supplement to the terms of this Agreement and not to conflict with the terms of this Agreement, anytime when China promulgates a law or makes any changes to a law, or the interpretation or application of such laws, or changes the procedures of relevant registration, thereby makes the Beneficiary consider the continuous effectiveness of this Agreement and/or disposing Rights and Interests of Pledge in accordance with this Agreement illegal or conflict with such laws, upon and in
		

		
			
		

		
			

		 

		

		
			 
		

		
			accordance with written instructions of the Beneficiary, the Pledgor shall immediately take measures and/or execute any agreements or other documents, to:
		

		
			 
		

		
			(d)Ensure the effectiveness of this Agreements;
		

		
			 
		

		
			(e)Assist in disposing the Rights and Interests of Pledge in accordance with this Agreement; and/or
		

		
			 
		

		
			(f)Retain or realize the purpose of this Agreement, or retain or realize the security interest created under this Agreement.
		

		
			 
		

		
			12.         NOTICE
		

		
			 
		

		
			12.1       All the notices and other communications pursuant to this Agreement shall be delivered to the following address of each Party in person, by registered mail, prepaid post, or commercial courier services, or facsimile. Each notice shall be confirmed with a respective email. Delivery shall be deemed to have occurred:
		

		
			 
		

		
			(a)Notices given in person, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of receipt, refusal or returned for any reason at the address specified for notices.
		

		
			 
		

		
			(b)Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).
		

		
			 
		

		
			12.2        All the notices and other communications required by or sent pursuant to this Agreement shall be delivered to the following address or facsimile number of relevant Party by telegraph, facsimile or post:
		

		
			 
		

		
			(a)If send to the Pledgor:
		

		
			 
		

		
			Address: ******
		

		
			Telephone:
		

		
			Attention: ******
		

		
			 
		

		
			(b)If send to the Beneficiary:
		

		
			 
		

		
			Address: 29/F, Building B-1, North Block of Wanda Plaza, No. 79 Wanbo Er Road, Nancun Town, Panyu District, Guangzhou,
		

		
			Telephone:
		

		
			Attention: Jianqiang Hu
		

		
			 
		

		
			(c)If send to the Domestic Company:
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			Address: 1/F, No. 38&40 Zhonghe Shang Street, High-tech District, Chengdu
		

		
			Telephone:
		

		
			Attention: Qunhua Ding
		

		
			 
		

		
			13.           TRANSFER OF AGREEMENT
		

		
			 
		

		
			13.1         Unless with the prior written consent of the Beneficiary, the Pledgor has no right to grant or transfer any of its rights and obligations hereunder.
		

		
			 
		

		
			13.2         This Agreement shall be binding upon the Pledgor and its successors and assigns permitted by the Beneficiary, and inure to the benefit of the Pledgee and its successors and assigns.
		

		
			 
		

		
			13.3         If the Beneficiary is restructured for whatever reason, upon the request of the Beneficiary, the Pledgor shall enter into a new agreement containing the content substantially same to the terms and conditions of this Agreement with the restructured Beneficiary.
		

		
			 
		

		
			14.          CONFIDENTIALITY
		

		
			 
		

		
			14.1          Each Party recognizes and confirms this Agreement, the content of this Agreement, and any and all oral and written information exchanged among them for the preparation and performance of this Agreement shall be deemed as confidential information. Each Party shall hold in confidence all such confidential information, and without the written consent from the other Parties, should not disclose any confidential information to any third party, provided that, confidential information shall not include information that (a) is or becomes available to the public other than as a result of disclosure by the receiving Party in violation of this Contract, or (b) any information which must be disclosed pursuant to laws and regulations, stock trading rules, or as required by order or decree of governmental authorities or courts; or (c) any information disclosed by either Party to its shareholders, investors, legal or financial advisors in relation to the transactions contemplated herein, who are bound by confidentiality obligation similar to this provision. Any disclosure of confidential information by the professionals or institutions engaged by either Party shall be deemed as the disclosure by such Party, and such Party shall be held liable for breach.
		

		
			 
		

		
			14.2         This Section 14 shall survive the termination of this Agreement and remain in effect for two (2) years of such termination.
		

		
			 
		

		
			15.          APPLICABLE LAWS AND DISPUTE RESOLUTION
		

		
			 
		

		
			15.1        Applicable Laws. This Agreement, including its validity, rights and obligations of the Parties hereunder, shall be governed by and construed in accordance with the laws of the PRC.
		

		
			 
		

		
			15.2        Dispute Resolution. The Parties will firstly attempt in good faith to resolve any and all disputes arising out of or relating to this Agreement, including disputes related to the existence, validity, interpretation or termination (the “ Dispute ”), through friendly consultations. If a Dispute is not resolved through friendly consultations within thirty (30) days from the date a Party gives the other Party written
		

		
			
		

		
			

		 

		

		
			 
		

		
			notice of the Dispute, then each Party may submit the dispute to Guangzhou Arbitration Commission for arbitration in accordance with then effective arbitration rules. The number of arbitrators shall be one. If the Parties reject the assignment of arbitrator within twenty (20) days after any Party gives the notice of arbitration, Guangzhou Arbitration Commission shall assign another arbitrator. The arbitration shall be conducted in Guangzhou in Chinese. The award of the arbitration tribunal shall be final and binding upon the Parties.
		

		
			 
		

		
			16.          AMENDMENT AND WAIVER
		

		
			 
		

		
			16.1         Amendment. Any amendment to this Agreement shall be made in writing, and only takes effect after the execution by all Parties hereunder. The amendments and supplements duly executed by all the Parties constitute an integral part of this Agreement, and have the same legal effectiveness as this Agreement.
		

		
			 
		

		
			16.2         No Implied Waivers. To protect the rights and interests of the Beneficiary, when necessary, the Beneficiary may exercise the rights under this Agreement at any time, as such rights are in addition to any right provided by law to the Beneficiary. Unless expressly waived in writing by the Beneficiary, the rights of the Beneficiary shall not be waived. Any delay in exercising its rights by the Beneficiary shall not constitute the waiver of such right.
		

		
			 
		

		
			17.          MISCELLANEOUS PROVISIONS
		

		
			 
		

		
			17.1         Liability of Default. If the Pledgor breaches any provision of this Agreement, the Pledgor constitutes a default. The Beneficiary is then entitled to require the Obligor to assume consequences in accordance with this Agreement, including realizing the Pledge under this Agreement. Any breaching Party shall indemnify the other Parties for all direct economic losses arising from its default.
		

		
			 
		

		
			17.2         Further Assurances. On a legitimate and feasible basis, the Parties hereto agree to use all usable rights or powers and through reasonable endeavor to execute all necessary documents and do all such other things to ensure the completely, timely compliance and performance of the provisions and principles of this Agreement.
		

		
			 
		

		
			17.3         Entire Agreement. This Agreement and other Main Agreements constitute the entire agreement reached among the Parties relating to the Pledge hereof, and supersedes in their entirety all prior written and oral agreements and understandings among the Parties relating to the subject matter hereof. The exhibits are incorporated into this Agreement through reference and constitute an integral part of this Agreement.
		

		
			 
		

		
			17.4          Termination. This Agreement shall enter into its effectiveness upon execution. The Beneficiary is entitled to terminate this Agreement at its own discretion.
		

		
			 
		

		
			17.5         Severability and Replacement. If any single or multiple provisions hereof are judged invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected in any aspect. The
		

		
			
		

		
			

		 

		

		
			 
		

		
			Parties shall in good faith, endeavor to use valid provisions to the extent allowed by laws and reflecting the intensions of all the Parties, to replace those invalid, illegal or unenforceable provisions, provided that, the economic effects achieved by such valid provisions shall be similar to the economic effects achieved by those invalid, illegal or unenforceable provisions.
		

		
			 
		

		
			17.6         Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any Party whose signature appears thereon, and all of which together shall constitute one and the same instrument. Counterparts delivered through email attachments or facsimile photocopies shall be deemed as effective deliveries.
		

		
			 
		

		
			17.7         Language. This Agreement is executed in the Chinese language.
		

		
			 
		

		
			(The remainder of this page left blank intentionally)
		

		
			 
		

		
			IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the date first above written.
		

		
			 
		

		
			PLEDGOR:
		

		
			 
		

		
			Signatory: /s/ Qunhua Ding
		

		
			 
		

		
			Name: Qunhua Ding
		

		
			 
		

		
			BENEFICIARY: Guangzhou Wangxing Information Technology Co., Ltd.
		

		
			 
		

		
			Signatory: /s/ Jianqiang Hu
		

		
			 
		

		
			Name: Jianqiang Hu
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			DOMESTIC COMPANY: Chengdu Jiyue Internet Technology Co., Ltd.
		

		
			 
		

		
			Signatory: /s/ Qunhua Ding
		

		
			 
		

		
			Name: Qunhua Ding
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 1
		

		
			 
		

		
			 Main Agreements
		

		
			 
		

		
			 
		

			
					
						Name of Agreement

					
					
						Parties

				
	
					
						Exclusive Assets Purchase Agreement

					
					
						Pledgor, Beneficiary and Domestic Company

				
	
					
						Exclusive Option Agreement

					
					
						Pledgor, Beneficiary and Domestic Company

				
	
					
						Exclusive Business Cooperation Agreement

					
					
						Domestic Company and Beneficiary

				
	
					
						Power of Attorney

					
					
						Pledgor

				
	
					
						Voting Proxy Agreement

					
					
						Pledgor, Beneficiary and Domestic Company

				

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 2
		

		
			 
		

		
			Capital Contribution Certificate
		

		
			of the Domestic Company
		

		
			 
		

		
			It is hereby certified that Qunhua Ding (ID Card number:*) holds 1% equity interest of Chengdu Jiyue Internet Technology Co., Ltd., and such 1% equity interest has been pledged to the Beneficiary.
		

		
			 
		

		
			Signatory: /s/ Qunhua Ding
		

		
			 
		

		
			Name: Qunhua Ding
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			(Seal of Chengdu Jiyue Internet Technology Co., Ltd.)
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT 3
		

		
			 
		

		
			Share Register
		

		
			of the Domestic Company
		

		
			 
		

		
			1.    Jianqiang Hu (ID Card number: *) holds 99% equity interest of Chengdu Jiyue Internet Technology Co., Ltd., and such 99% equity interest has been pledged to the Beneficiary.
		

		
			 
		

		
			2.    Qunhua Ding (ID Card number: *) holds 1% equity interest of Chengdu Jiyue Internet Technology Co., Ltd., and such 1% equity interest has been pledged to the Beneficiary.
		

		
			 
		

		
			Signatory: /s/ Qunhua Ding
		

		
			 
		

		
			Name: Qunhua Ding
		

		
			 
		

		
			Title: Legal Representative
		

		
			 
		

		
			(Seal of Chengdu Jiyue Internet Technology Co., Ltd.)

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