Document:

Exhibit 4.50

 

	Equity
    Transfer Framework Agreement	
        

         

         

         

         

	 
	By
    and between
	 
	ChinaCache
    Xin Run Technology (Beijing) Co., Limited.
	 
	and
	 
	People.cn
    CO., LTD
	 
	In
    respect of
	 
	100%
    Equity of Beijing Shuoge Technology Co., Ltd.

 

 

 

    	 	1	 

     

    

  

This Agreement was entered into on December
29, 2017 and the place of performance of the Contract is Shunyi District, Beijing.

 

Party A: ChinaCache Xin Run Technology
(Beijing) Co., Limited., with its registered address at: Building 1 and Building 2, No.1 Zhuyuan 4th Street,
Shunyi District, Beijing (F/3, Building 1, Tianzhu Comprehensive Bonded Zone); legal representative: WANG Song.

 

Party B: People.cn CO., LTD, with
its registered address at: No. 234, Block B, No. 28, Xinjiekouwai Avenue, Xicheng District, Beijing; legal representative: YE Zhenzhen.

 

Party C: Beijing Shuoge Technology Co.,
Ltd., with its registered address at: Room 002, F/1, Building 2, Yard No. 8, Zhuyuan 3rd Street, Shunyi District,
Beijing (Tianzhu Comprehensive Bonded Zone); legal representative: YING Huiling.

 

Whereas:

 

1. On August 28, 2013,
Party A and Party B executed a “Framework Agreement for the Transfer of the Computer Room Building” and the “Agreement
on the Termination of the Framework Agreement for the Transfer of the Computer Room Building” on April 9, 2014. The “Framework
Agreement for the Transfer of the Computer Room Building” and the "Memorandum on the Transfer of the Computer Room Building"
were re-executed on April 10, 2014. The "Agreement on Payments" was executed on April 11, 2014, and the "Agreement
on Payments" was executed on January 26, 2015. Pursuant to the above-mentioned series of agreements, Party A would transfer
to Party B a to-be-constructed-and-developed computer room building (including equipment inside the building) and the corresponding
land use rights (hereinafter referred to as “real estate”) located at the A-05-1 plot of Tianzhu Comprehensive
Bonded Zone, Shunyi District, Beijing, while Party B agrees to purchase the said Computer Room Building. By the end of 2017, the
relevant assets of the Computer Room Building were being put into Party C and the parties concerned have not yet completed the
actual delivery of the entire property rights;

 

    	 	2	 

     

    

 

2. Party C is a wholly-owned
subsidiary with Party A holding 100% equity;

 

3. Party C has now obtained
the “House Ownership Certificate” and “State-owned Land Use Certificate” of Building 3 located at Yard
No. 8, Street 3, Tianzhuyuan, Shunyi District, Beijing, and enjoys all the rights and interests of the property and the corresponding
land. The property has a construction area of ​​10,247.94 square meters.

 

4. Party A and Party
B negotiate and agree: Party A will inject all the assets of the Computer Room Building involved in the Framework Agreement and
the Memorandum into Party C, and Party A will transfer Party C's 100% equity to Party B as the implementation of the Framework
Agreement of Party A and Party B in 2014.

 

The three parties have
agreed on the relevant issues and executed this Agreement as follows:

 

1. Determination
of Equity Transfer Price

 

The two parties confirmed
that the final equity transfer price is determined by the appraisal value specified in the Overall Equity Valuation Report of Party
C issued by ZhongHe Appraisal Co., Ltd. for the purpose of the transaction, and the price will become effective after being filed
with the State-owned Assets Supervision and Administration Department. Both parties confirmed that when the appraisal value exceeds
500 million yuan, the maximum transfer price will not exceed 500 million yuan.

 

    	 	3	 

     

    

  

2. Payment of Equity
Transfer Price 

 

2.1 If the final equity
transfer price is higher than 325 million yuan, pay as per the following time limits and conditions:

 

2.1.1 Payment of the
first equity transfer price: Party B has paid Party A an advance payment of 325 million yuan on the basis of the Framework Agreement
and the relevant prepayment agreements prior to the signing of this Agreement. The advance payment will, upon the effectiveness
of this Agreement, be automatically transferred to Party A as the payment of the first equity transfer price made by Party B; the
breakdown of the advance payment of 325 million yuan is as follows:

 

(1) On September 6,
2013, People.cn paid 75 million yuan in advance;

 

(2) On April 18, 2014,
People.cn paid 150 million yuan in advance; and

 

(3) On January 30, 2015,
People.cn paid 100 million yuan in advance.

 

2.1.2 Payment of the
second equity transfer price: Party B shall pay Party A the second equity transfer price within 3 business days after the assessment
report of this transaction filed with the Ministry of Finance and the approval of the Board of Directors of Party B. The second
equity transfer price shall be paid up to 85% of the total equity transfer price;

 

2.1.3 Payment of the
third equity transfer price: Party B shall pay the 10% of the equity transfer price prior to the closing date. The closing date
is the date on which Party A and Party B consummate the equity transfer in accordance with the formal Equity Transfer Agreement.

 

2.1.4 Payment of the
fourth equity transfer price: One year after the closing, if there is no major quality problem in the overall project and equipment
of the Computer Room Building, Party B shall pay the remaining 5% equity transfer price.

 

    	 	4	 

     

    

  

2.2 When the assessment
price is less than 325 million yuan, if both parties confirm the continuation of the transaction, Party A shall return the difference
to Party B within 30 days after the assessment report has been put into effect upon filing. If both parties fail to sign a formal
agreement on the transfer of equity within 30 days after the assessment report becomes effective, this transaction will be automatically
cancelled. Party A and Party B shall implement in accordance with Article 5.1 of the Agreement.

 

3. Rights and Obligations
of Each Party

 

3.1 Party A provides
a detailed list of the assets involved in this transaction as an annex to this Agreement.

 

3.2 Party A establishes
the mortgage security for Party B with the assets in the list agreed in Article 3.1 and cooperates with Party B to complete the
mortgage registration within a reasonable period of time at the request of Party B.

 

3.3 Party B shall pay
the funds in each period pursuant to the Agreement.

 

3.4 Party A and Party
C shall complete the legal procedures for injecting the assets in the list agreed in the Article 3.1 into Party C by September
30, 2018. Party A guarantees that the property rights of the Computer Room Building owned by Party C at that time are good title
and that the equipment assembly will be able to meet all the conditions for the normal operation of the Computer Room Building,
as well as promises that all the assets owned by Party C will not be mortgaged, pledged and encumbered by other third party rights
(except for the mortgage guarantee set up for Party B).

 

3.5 Both parties shall
execute the formal Equity Transfer Agreement on the basis of the equity transfer agreement model (see the Annex) within 5 working
days after the evaluation report is filed with the State-owned Assets Supervision and Administration Department and becomes effective.
The parties agree that, in accordance with the actual situation at the time of executing the agreement, the three parties may make
amendments to the Equity Transfer Agreement that do not affect the commercial nature and do not harm the interests of the parties.

 

    	 	5	 

     

    

  

4. Closing Time
and Closing Method

 

The specific time and
place of closing and issues related shall be determined by the two parties in the formal Equity Transfer Agreement.

 

5. Termination

 

5.1 If Party A and Party
B negotiate consensually that the transaction is terminated or an automatic termination as stipulated in Article 2.2 occurs, Party
A shall refund Party B's prepayments and pay fees for occupying the funds at 5% annual interest rate according to the actual occupying
period.

 

6. Overdue Liability

 

6.1 If Party B fails
to pay the funds in due time, Party B shall pay Party A the interest at the bank loan interest rate for the same period on the
first day of each extension starting from the due date of payment to the actual payment date.

 

6.2 If Party A fails
to complete the matters specified in Articles 2.2, 3.2 and 3.4 on time, Party A shall pay Party B the interest at the bank loan
interest rate for the same period on the first day of each extension based on the occupied amount and overdue time by Party A.
If two or more of the above breaches coexist, Party A will only bear the single default liability for the one with the longest
delay time. However, if Party B exercises relevant rights in accordance with Article 5.1, this Article does not apply and Party
A shall not bear the responsibility for breach of contract under this Article.

 

6.3 In addition to the
foregoing, if any party fails to perform the obligations under the Agreement on time, it shall bear the corresponding liability
for breach of contract, and the defaulting party shall compensate the actual losses suffered by the observing party.

 

    	 	6	 

     

    

  

7. Applicable Law
and Dispute Resolution

 

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

 

7.2 Any disputes or
discrepancy between the parties arising from this Agreement shall be resolved as far as possible in an amicable manner. Should
the parties fail to negotiate a settlement, either party may file a lawsuit with the court in the place where the contract is executed
for the dispute or discrepancy.

 

7.3 This contract was
signed in Chaoyang District, Beijing.

 

8. Miscellaneous

 

8.1 The original of
this Agreement is made in six copies and each party holds two copies. Each copy has the same legal validity.

 

8.2 This Agreement shall
be signed by the legal representatives or their authorized representatives of Party A, Party B and Party C, and be affixed with
an official seal respectively and shall be effective upon approval by the Board of Directors of Party B.

 

    	 	7	 

     

    

 

 

 

Party
A (official seal): Legal representative or authorized agent (signature)
Date: Party B (official seal): Legal representative or authorized agent (signature) Date: Party C (official seal): Legal representative
or authorized agent (signature) Date:

 

    	 	8Exhibit 4.51

 

Attachment 2

 

No. 2017SHLDAB10039

 

 

 

Loan Contract

 

 

 

    	 	 	1

     

    

 

Contents

 

	 	Article 1 Loan Purpose	3
	 	 
	Article 2 Loan Amount	4
	 	 
	Article 3 Loan Term	4
	 	 
	Article 4 Changes in Borrowing Rates, Interest-bearing and Interest Rates	4
	 	 
	Article 5 Withdrawals, Loan Payments	5
	 	 
	Article 6 Sources of Repayment Funds and Repayment Methods	9
	 	 
	Article 7 Guarantee	10
	 	 
	Article 8 Statement of the Borrower	11
	 	 
	Article 9 Commitment of the Borrower	13
	 	 
	Article 10 Default Events	14
	 	 
	Article 11 Breach of Contract	15
	 	 
	Article 12 Notices and Service	17
	 	 
	Article 13 Force Majeure	17
	 	 
	Article 14 Proof of Debt	18
	 	 
	Article 15 Entry into Force, Change, Rescission and Termination of the Contract	18
	 	 
	Article 16 Transfer and Information Disclosure	19
	 	 
	Article 17 Applicable Laws and Disputes Resolution 	19
	 	 
	Article 18 Supplementary Provisions	19
	 	 
	Article 19 Other Matters as Agreed by Both Parties	20

 

    	 	 	2

     

    

  

Loan Contract

 

Borrower: ChinaCache
Xin Run Technology (Beijing) Co., Limited

 

Lender: Shenyang Rural
Commercial Bank Co., Ltd. Shenhe Branch

 

Whereas:

 

The borrower irrevocably
applies for a loan from the lender and in order to ensure that the borrower and the lender fulfill their obligations in a comprehensive
and timely manner, this Contract is hereby concluded.

 

Part I Primary Terms

 

 ̈This
Contract is signed as an affiliated financing document for the “Financing Quota Agreement” with the serial number of
/. After the Contract comes into effect, all the terms of the Contract are incorporated into the Financing Quota Agreement
and become part of it (if the borrower has previously signed the Financing Quota Agreement with the lender, this item should be
selected and the Financing Quota Agreement number should be specified):

 

þThe
Contract is used as an independent credit document between the borrower and the lender (if the borrower and the lender have not
yet signed a credit facility agreement, this item should be selected).

 

 ̈The
loan under this Contract is used for refinancing, the name of the original Loan Contract is /, the No. is /, and
the time of execution is /. (If the loan is used for refinancing, this item must be selected).

 

Part II General Terms

 

Article 1 Loan Purpose

 

1. The purpose of the
loan under this Contract is: machines and cabinets purchase, power supply and auxiliary equipment.

 

2. Without the written
consent of the lender, the borrower may not change the use of the loan as determined in this Contract.

 

    	 	 	3

     

    

 

Article 2 Loan Amount

 

The amount of the loan
under this Contract is RMB 220 million (in figures), SAY TWO HUNDRED AND TWENTY MILLION ONLY, (if the amount in figures
and in words are inconsistent, the amount in words shall prevail, the same below).

 

Article 3 Loan Term

 

The term of the loan under
this Contract is 60 months from December 21, 2017 to December 20, 2022.

 

Article 4 Changes in
Borrowing Rates, Interest-bearing and Interest Rates

 

1. Interest of the borrowings
under this Contract shall be calculated on a daily basis based on the actual number of days borrowed from the date of actual withdrawal
(daily interest rate = annual interest rate / 360), and the monthly (monthly / quarterly) interest shall be settled on the
20th of each month (on the 20th of each month / 20th of the last month of the quarter). If the settlement date is a non-working
day of the bank, it will be postponed to the next working day of the bank. When the loan becomes due, the interests accrued therefrom
shall be paid with the principal.

 

2. Borrowing interest
rates under this Contract are determined in the following manner (2):

 

(1) Fixed rate with an
annual interest rate of /%, not adjusted during the Contract period;

 

(2) The interest rate
of the Contract is determined to float up (up/down) 30% on the basis of the benchmark interest rate of the People's
Bank of China. The Contract interest rate is subject to a one-year adjustment, with one year (year /half a year/quarter
/month) as a period. The time for determining the interest rate for the first period is the effective date of the Loan Contract.
The lender determines the interest rate of the first period according to the benchmark interest rate of the People's Bank of China
and the agreed floating rate between the two parties on the effective date of the Loan Contract, i.e., the annual interest rate
of 6.175 %. The time for the determination of the interest rate for the second and subsequent periods is the corresponding
date of the effective date of the Loan Contract. The lender determines the current interest rate according to the benchmark interest
rate of the People's Bank of China and the floating rate agreed by both parties on the corresponding day of the effective date
of the Loan Contract. If there is no date corresponding to the effective date of the Loan Contract in the month of adjustment,
the last day of the month will be the corresponding day.

 

    	 	 	4

     

    

 

Withdrawals in phases,
regardless of the number of withdrawals in one period, are executed at the current interest rate determined on the effective date
of the Loan Contract or the corresponding date and are adjusted at the same time on the corresponding date of the effective date
of the next period Loan Contract.

 

The corresponding date
of the effective date of the Loan Contract refers to the corresponding date after the expiration of the first effective date of
the Loan Contract. For example, the effective date of the Loan Contract is March 18 of a certain year, and the corresponding date
of the second period based on one month as one period is April 18 of that year; the corresponding date of the second period based
on one quarter as one period is June 18 of that year; the corresponding date of the second period based on half a year as one period
is September 18 of that year; the corresponding date of the second period based on one year as one period is March 18 of the following
year; and so on for the subsequent periods.

 

The lender shall inform
the borrower verbally or in writing within 30 days from the date of the interest rate change. However, the notification shall not
be construed as an obligation of the lender and whether the notification is delivered or not will not affect the execution.

 

3. In the event that the
People's Bank of China adjusts the interest rate or the interest rate determination method, it shall be handled in accordance with
the relevant regulations of the People's Bank of China.

 

Article 5 Withdrawals,
Loan Payments

 

1. Withdrawal conditions.
Borrowers applying for withdrawals must meet the following conditions:

 

(1) The borrower has the
qualification as the subject of the loan; its corresponding decision-making body or authorized agency has already agreed to take
a loan in accordance with the law, which has been approved by the relevant department if approval is needed;

 

(2) The borrower of the
project loan has fulfilled the legal management procedures of the project, including but not limited to obtaining the ratification,
approval or filing documents of the government authority, and obtaining legal documents regarding the environmental protection,
land, and planning; the project's working capital loans have been satisfied the conditions required by the relevant state agencies;

 

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(3) Loans for real estate
development projects have obtained relevant certificates of State-owned Land Use Rights Certificates, Planning Permits
for Construction Land Use, Planning Permits for Construction Projects, and Construction Permits for Construction
Projects; if sale or pre-sale is commenced, the Sales (Pre-sale) License is obtained; land transfer fees and related
expenses for the project in question have been paid in full;

 

(4) The source of project
capital is in compliance with the laws and regulations which is already in place in the same proportion (all/the same proportion)
as the loan; if the actual investment of the project exceeds the original investment amount, and the borrower supplements an additional
loan, the supplemented additional project capital by the borrower has been in place prior to the borrowing / (all/the same
proportion); the actual progress of the project matches the amount invested;

 

(5) The relevant guarantee
procedures required by the lender have been completed and the guarantee is legal and valid;

 

(6) The use of the loan
meets the requirements of laws and regulations and the stipulations of the Loan Contract and the Transaction Contract;

 

(7) The relevant commitments
made by the borrower at the time of signing the Contract are true and effective at each withdrawal, no material or substantial
adverse changes have occurred, and no other significant adverse circumstances that may affect the performance of the Contract have
occurred.

 

2. Withdrawal method.
Withdrawal of the borrowing adopts the following method (3):

 

(1) One-time withdrawal
takes the following method /:

 

		�	The withdrawal date is /;

 

		‚	The withdrawal period is from / to
/;

 

    	 	 	6

     

    

 

(2) If withdrawal is made
in several times, the withdrawal period is from / to /. The specific withdrawal plan is as follows:

 

		�	/ (month day, year), / yuan;

 

		‚	/ (month day, year), / yuan;

 

		ƒ	/ (month day, year), / yuan;

 

Others: /.

 

Among them, the withdrawal
amount by the drawer from / (month day, year) to / (month day, year) is not less than /.

 

If the borrower does not
follow the withdrawal procedures specified in the Contract for the withdrawal date, the withdrawal period or the withdrawal plan,
and does not apply for the postponement of withdrawal, the lender may request the borrower to complete the relevant formalities
within the specified time limit; The lender may cancel or partially cancel the non-withdrawal money at the end of the period, collect
the compensation amount according to / % of the cancellation amount, and may re-determine whether to issue loans and withdrawal
conditions, if the said formalities have not been completed. If the borrower fails to withdraw the loan with the minimum withdrawal
amount or above within the agreed time limit, the lender may request the borrower to withdraw the loan within the specified time
limit; if the borrower fails to withdraw the loan within the specified time limit, the lender may collect compensation according
to / % of the agreed minimum withdrawal limit and can re-determine whether to issue loans and withdrawal conditions.

 

(3) When the borrower
withdraws money, he should submit a written withdrawal notice to the lender 3 days in advance. If the borrower needs to
make adjustments to the withdrawal plan, he should apply to the lender 3 days in advance and make adjustments with the consent
of the lender.

 

3. Loan payment

 

(1) Trusted payment

 

		�	If the fixed assets loan is under one
of the following circumstances, the borrower entrusts the lender to pay the borrowings to the counterparty of the borrower who
meets the agreed purposes in this Contract and the Transaction Contract:

 

a. The single withdrawal
amount exceeds 5% of the total project investment and exceeds RMB 500,000 (inclusive);

 

    	 	 	7

     

    

 

b. The single withdrawal
amount exceeds 5 million yuan (including equivalent foreign currency);

 

c. Other circumstances
agreed upon by the parties:

 

None

 

		‚	The working capital loan under only one
of the following circumstances shall, in principle, adopt the lender's entrusted payment method:

 

a. The newly established
credit business relationship with the borrower and the borrower's credit status is of average level;

 

b. The payment target is
clear and the single payment amount is large;

 

c. Other circumstances identified
by the lender.

 

		ƒ	In
the case of entrusted payment, the borrower shall submit the Loan Payment Application to the lender 3 days in advance
and provide relevant information as required by the lender. After the lender reviews and confirms, the borrower directly pays
through the borrower's account to the borrower's counterparty. If the withdrawal application of the borrower does not meet the
conditions for withdrawal specified in the Contract, or if the payment entrustment application is inconsistent with the Contract,
the transaction information is incomplete or untrue, the lender may not issue the corresponding loan; thus, resulting the borrower
breaches the Contract or causes other losses to the counterparty, the lender does not undertake any responsibility;

 

		„	If
the project financing business adopts entrusted payment, the lender may, when necessary, jointly examine the equipment construction
or the progress of the project construction with the independent intermediary agency and the Contractor selected by the borrower
and/or the lender as well as make loan payment based on the issued and joint certificate which is in compliance with the agreement;

 

		...	If
the borrower applies for the suspension of the payment or withdrawing the payment entrustment, he shall submit it to the lender
in writing before the lender makes payment. After reviewed and confirmed by the lender, the borrower suspends the entrusted payment,
and the relevant loan can be recovered; during this period, the corresponding loan shall bear interest which is calculated pursuant
to the Contract. After the suspension of the entrusted payment, if the borrower applies for restoration of the payment entrustment,
it shall be handled in accordance with Article 5. 3.1.2 of this Contract;

 

    	 	 	8

     

    

 

		†	If
the borrower experiences circumstances such as a declining credit status, fails to pay the loan in accordance with the Contract,
the project schedule lags behind the progress of the use of the funds, and avoids the borrower's entrusted payment in an integrated
manner, the lender may negotiate with the borrower the conditions to supplement the issuance and payment of the loan, or stop
the issuance and payment of the loan;

 

		‡	The
payment entrustment cannot be attached with precedent conditions. If the borrower attaches a condition in the Loan Payment
Application, the attached conditions do not impose obligations on the lender. Unless otherwise agreed in writing by the parties,
the lender shall handle the entrusted payment, postponement of payment, withdrawal of payment, restoration of payment, etc. The
lender shall not be obliged to notify the payee.

 

(2) Autonomous payment

 

Except for the circumstances
stipulated in Article 5.3.1.1 or Article 5.3.1.2 of this Contract, after the loan is issued to the borrower's account, the borrower
may pay autonomously in accordance with the Contract. The borrower should inform the lender of the payment of the loan at the request
of the lender, and the lender can verify whether the loan payment meets the agreed purpose through account analysis, credential
inspection, and on-site investigation.

 

4. The loan credential is
an integral part of the Contract. When the loan amount, withdrawal amount, repayment amount, loan date, repayment date, and loan
interest rate recorded in this Contract are inconsistent with the loan credential record, the loan credential record shall prevail.

 

Article 6 Sources of
Repayment Funds and Repayment Methods

 

1. The funds for repaying
the loan principal and interest under the Contract by the borrower are from:

 

(1) Rental income from
the machines and cabinets;

 

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(2) Others.

 

2. Irrespective of any agreement
of any other Contract the borrower as a party thereto on the source of the borrower's repayment funds, the said agreement shall
not affect the performance of the borrower's repayment obligations under this Contract. Under no circumstances should the borrower
invoke Article 6.1 and refuse to perform its repayment obligations under this Contract.

 

3. The borrower shall pay
interest in full and on time according to the agreement of this Contract and shall repay the loan principal according to the following
term (2):

 

(1) If repaying the principal
at one time, the borrower shall repay all the principal of the loan on / (month day, year);

 

(2) If repaying the principal
on a split basis, the specific principal and date of repayment shall be as follows: see the attachment for details

 

		�	/
(month day, year), amount (in words) / (in ten thousand yuan), (in figures) / (in ten thousand yuan);

 

		‚	/
(month day, year), amount (in words) / (in ten thousand yuan), (in figures) / (in ten thousand yuan);

 

		ƒ	/
(month day, year), amount (in words) / (in ten thousand yuan), (in figures) / (in ten thousand yuan);

 

		„	/
(month day, year), amount (in words) / (in ten thousand yuan), (in figures) / (in ten thousand yuan);

 

(Additional pages may be added when the number
of periods is large)

 

4. The borrower shall
have enough interest and principal payable in the current period on the account opened by the lender on the settlement date as
agreed in the Contract or before the day for repaying the principal and authorize the lender to collect from the borrower's account
on the agreed settlement date or on the day for repaying the principal.

 

Article 7 Guarantee

 

1.
The guarantee method of the loan under this Contract is: R mortgage
□ pledge R guarantee

 

    	 	 	10

     

    

 

2. The borrower has the
obligation to actively assist the lender and make the lender and the guarantor sign a guarantee contract with respect to the guarantee
issues under this Contract.

 

The guarantor is the mortgagor: ChinaCache
Xin Run Technology (Beijing) Co., Ltd., guarantors: Wang Song, Kou Xiaohong. The No. of the guarantee contract is: Mortgage
Contract: DB2017SHLDAB10039, Guarantee Contract: DB2017SHLDBA10039.

 

3. If unfavorable changes
to the guarantee under this Contract affect the creditor’s rights of the lender, the lender shall inform the borrower to
provide or increase the guarantee for the lender’s satisfaction as required.

 

Article 8 Statement
of the Borrower

 

The borrower declares as
follows:

 

1. The borrower is a company
incorporated under the laws of China (excluding Hong Kong, Macau Special Administrative Regions and Taiwan: Same below), and has
the right to sign this Contract and any documents related to this Contract, and has taken any necessary corporate acts so that
this Contract and any documents related to this Contract are legal, valid, and enforceable;

 

2. The signing of this Contract
by the borrower and the fulfillment of its obligations under this Contract are not and will not be in violation of any other Contracts
or documents it has signed, the Article of Association, any applicable laws, regulations or administrative orders, the relevant
documents, judgments, and rulings of the competent authorities, as well as are not inconsistent with the obligations undertaken
by or arrangements made by the borrower;

 

3. The borrower and any
of its shareholders or affiliates have not been involved in any liquidation, bankruptcy, reorganization, merger, dissolution, closing
down, winding up or similar legal proceedings or merger, division or reorganization of any of its Clients, nor have there been
any circumstances that will possibly cause such legal proceedings;

 

    	 	 	11

     

    

 

4. The borrower has not
been involved in any economic, civil, criminal or administrative proceedings that may have a material and adverse effect on him/her,
nor have there been any circumstances that will possibly cause it to be involved in a legal proceeding or a similar arbitral proceeding;

 

5. The legal representative,
directors, supervisors and other senior management personnel of the borrower as well as any important assets of the borrower are
not involved in any enforcement, seizure, detention, freezing, liens, and/or supervisory measures, nor have there been any circumstances
that will possibly cause such measures;

 

6. The borrower guarantees
that all financial statements (if any) issued by it are in compliance with Chinese laws and regulations, and that the statements
reflect its financial status in a true, complete and fair manner: All materials, documents, information, etc. of itself and the
guarantor provided by the borrower to the lender in the course of signing and performing the Contract. are true, valid, accurate
and complete without any concealment or omission;

 

7. The borrower strictly
abide by the applicable laws and regulations in its business activities, strictly follow the borrower’s business licenses
or the business scope approved by the law for conducting business and complete the annual inspection procedures on time.

 

8. Before repaying the lender’s
related loans, the borrower does not waive any claims that are due and does not dispose of the existing major assets in an unpaid
or otherwise unsuitable manner.

 

9. The borrower confirms
that there are no and will not have circumstances, including but not limited to arrears of employee wages and medical treatment,
disability compensation, compensatory expenses and compensation on the signing date of this Contract and during the performance
period of this Contract.

 

10. The borrower has disclosed
to the lender the facts and circumstances it knows or should that will affect the lender's decision whether to grant the loan under
this Contract.

 

11. The borrower guarantees
that there are no other situations or events that have caused or may have a detrimental effect on its ability to perform.

 

    	 	 	12

     

    

 

Article 9 Undertakings
of the Borrower

 

1. The borrower shall strictly
abide by and perform the obligations under this Contract, including but not limited to:

 

(1) To withdraw and use
the loan according to the term and purpose agreed in this Contract;

 

(2) The borrower consciously
accepts the investigation, inquiry and supervision by the lender regarding the borrower's use of the loan under this Contract,
and actively cooperates with the lender in the investigation, inquiry and supervision of its production, operation and financial
conditions, and has the obligation to provide the relevant P&L statement, balance sheet, and other statements to the lender.

 

(3) The borrower warrants
to bear the related expenses under this Contract, including but not limited to the fees for notarization, appraisal, evaluation,
registration, lawyer service fees, etc.; for the collection letter or the collection document sent by the lender to or sent by
other means, the receipt shall be sent within 3 days upon the receipt.

 

2. Except as otherwise provided
in this Contract, the borrower shall handle, obtain and comply with all approvals, authorizations, registrations, permissions required
by applicable laws and regulations, and maintain its validity so that it can legally sign and perform the obligations under the
Contract and any documents related to this Contract; if required by the lender, the borrower shall issue relevant certificates
forthwith;

 

3. Within five (5) business
days from the date of learning that he is involved in any economic, civil, criminal, administrative proceedings or similar arbitral
proceedings that may have a detrimental effect on him, or that within five (5) business days from the date he is aware of any of
his important assets involving any enforcement, seizure, detention, freezing, liens, and/or supervisory measures, the lender shall
be notified in writing which shall explain in detail the impact of the measures and the remedial measures taken or planned;

 

4. From the date of signing
this Contract, before the loan under this Contract is fully repaid, without the written consent of the lender, the borrower will
not:

 

(1) perform liquidation,
reorganization, bankruptcy, being merged, mergers, divisions, restructuring, dissolutions, closing down, winding up or similar
legal proceedings;

 

(2) except as needed by
daily operations, sell, rent, grant, transfer or otherwise dispose of any of its important assets;

 

    	 	 	13

     

    

 

(3) have any change to the
ownership structure:

 

(4) execute any contract/agreement
that has a material adverse effect on the ability to perform the obligations under this Contract or assume the relevant obligations
that have such an effect.

 

5. The borrower shall notify
the lender at any time of any event that may affect its ability to perform its obligations under this Contract and any documents
related to this Contract.

 

6. When the guarantee under
this Contract meets a specific situation or a specific change occurs, the borrower shall, at the request of the lender, provide
other guarantees approved by the lender in a timely manner. Specific changes in this specific situation include, but are not limited
to, the guarantor’s suspension of production, winding up, dissolution, suspension for business rectification, revocation
or cancellation of business licenses, applying for or being applied for reorganization, bankruptcy, significant changes in operations
or financial conditions, involving in significant litigation or arbitration cases, legal representatives, directors, supervisors,
and major management personnel involved in the case, the value of the security being reduced or potentially being reduced or under
property preservation measures such as seizure, and breaches under the guarantee contract and requesting for the cancellation of
the guarantee contract;

 

7. At the request of the
lender, the borrower shall also handle the notarization with enforceability in the public notary office designated by the lender,
and the borrower shall bear the cost and voluntarily accept the enforcement;

 

Article 10 Default
Events

 

After the Contract comes
into effect, both the borrower and the lender must fulfill the obligations stipulated in this Contract. In any of the following
circumstances, it constitutes a default by the borrower against the lender, and it shall be liable for breach of Contract in accordance
with the law:

 

1. The borrower fails to
perform the principal and interest repayment obligation in accordance with this Contract;

 

    	 	 	14

     

    

 

2. Any statement, promise
made by the borrower in this Contract are inaccurate or misleading in any notice, authorization, approval, consent, certificate
or other document made in or in connection with this Contract, or has been proven to be inaccurate or misleading or with omission,
or proven to be invalid or withdrawn or without legal effect;

 

3. The borrower violates
any of the commitments in Article 9 of this Contract;

 

4. The borrower or the guarantor
ceases business, suspends production, winds up, suspends business for rectification, conducts liquidation, is taken over or managed,
is dissolved, business licenses of whom are revoked or cancelled or suffers bankruptcy;

 

5. The borrower or the guarantor’s
financial condition is deteriorating, suffers serious difficulties in its operations or an event or situation that has a material
adverse effect on its normal operations, financial status or solvency occurs;

 

6. The borrower, the guarantor
or its controlling shareholder, actual controller or its affiliates are involved in major lawsuits, arbitrations or their major
assets are seized, sealed up, frozen, enforced or suffer other measures taken to have the same effect, or its directors, supervisors
and senior management personnel are involved in litigation, arbitration or other enforcement measures which have a material adverse
effect on the solvency of the borrower;

 

7. The borrower did not
notify the lender in advance when the change of residence, communication address, business scope, legal representative, and other
business registration matters occur which cause the lender’s creditor’s rights to be seriously affected or threatened;

 

8. The borrower violates
any of the provisions of Article 6, Article 7, Article 8, and Article 9 of this Contract;

 

9. The borrower has other
behaviors that violate this Contract and are sufficient to prevent the normal performance of this Contract.

 

Article 11 Breach of
Contract

 

In the case of any of the
default events mentioned in Article 10 of this Contract, the lender shall have the right to take the following measures separately
or simultaneously:

 

1. Adjust the amount of
the loan under this Contract, or stop the borrower from continuing to use the available credit limit;

 

    	 	 	15

     

    

 

2. Declaring that all or
part of the loan under this Contract becomes due prematurely, and the borrower shall immediately and fully repay the principal
and interest;

 

3. The borrower is required
to add a pledge of deposit certificates and pledge of deposits in proportion to the amount of the loans.

 

4. Impose penalty interest
and compound interest on the loan, including:

 

(1) If the borrower repays
the principal and interest of the loan due under this Contract exceeding the time limit, the lender will add 30% (30% -
50%) of the interest rate to that agreed in the Contract as the penalty interest for the overdue loan and add 30% (30% -
50%) of the interest rate for the unpaid interest as agreed in the Contract;

 

(2) If the borrower fails
to use the loan for the purposes specified in this Contract, the lender will add 50% (50%-100%) of the interest rate to
that agreed in the Contract as the penalty interest on a daily basis against the borrower's breach of Contract and add 50%
(50%-100%) of the interest rate for the unpaid interest as agreed in the Contract;

 

If the borrower uses the
loans falling in the circumstances listed in 11.4(1) and 11.4(2) at the same time, the lender shall impose the heavier punishment
on the borrower only.

 

(3) During the loan period,
the interest that the borrower cannot pay on schedule shall be calculated as double interest according to the interest rate agreed
upon in this Contract. After the loan is overdue, the interest shall be calculated as double interest according to the rate agreed
in 11.4(1).

 

5. The exercise of the right
to set-off, the borrower hereby authorizes the lender, and the lender has the right to collect from the borrower’s account
opened in Shenyang Rural Commercial Bank Co., Ltd. and its affiliates (regardless of the currency) when the lender has any due
loan (including the premature expiration date as stipulated in the Article regarding the Breach of Contract) unrepaid to cover
the debts under this Contract. This authorization is irrevocable. If the exchange rate conversion is involved, the lender will
convert it according to the current exchange rate. The exchange rate risk will be borne by the borrower. Unless otherwise stipulated
by the state authority, the sequence of the proceeds deducted from the account for repaying the debts shall be determined by the
lender.

 

    	 	 	16

     

    

 

6. Proceed to the judiciary
for enforcement. Irrespective of whether the borrower's debt under this Contract becomes due, if any default event stipulated in
Article 10 of this Contract occurs, the lender may recover the claim by filing a lawsuit or applying for enforcement with the People's
Court with jurisdiction.

 

Article 12 Notices
and Service

 

1. The notice sent by one
party to the other party shall be sent to the address specified on the signature page of this Contract until one party changes
the address by written notice. Sending at the above address will be deemed as being served on the following dates: If it is a letter,
the seventh (7th) bank business day after the registered letter is sent to the main business address; if it is a special delivery,
it will be deemed as being served on the day accepted by the receiver; if by fax or e-mail, the date on which the fax or e-mail
was sent. However, all notices, requests or other communications sent or delivered to the lender must be deemed to have been
delivered when the lender actually received them. All notices and requests sent to the lender by fax or e-mail shall be confirmed
afterwards by submitting the original in person or by post to the lender.

 

2. If a party files a lawsuit
against the other party due to a dispute, the summons and notices sent will be deemed served only if they are sent to the address
specified on the signature page of this Contract. Changes to the above address and agents if not notified to the lender in writing
in advance, such changes will not be effective for the lender.

 

Article 13 Force Majeure

 

Force majeure refers to
unforeseen and unavoidable objective conditions that cannot be overcome, including but not limited to natural disasters, earthquakes,
typhoons, floods, fires, wars, riots, epidemics, government actions, strikes, suspension, blackouts, communication failures, network
system failure or malfunction, system failure, equipment failure. When a party encounters a situation of force majeure, it should
notify the other party as soon as possible after the occurrence of the situation. Both parties can jointly negotiate for solutions
to the problem, but the party that encountered the above matters needs not assume the liability for breach of contract.

 

Among them, due to changes
in the regulatory policies of the banking regulatory agencies, the lender's request for the borrower to repay loans in advance
and stop the issuance of new loans are regarded as an event of force majeure which the borrower should cooperate unconditionally.

 

    	 	 	17

     

    

 

Article 14 Proof of
Debt

 

1. The lender will maintain
a set of accounting records and vouchers relating to the business activities involved in this Contract and all accompanying documents
in its accounting books in accordance with its normal business operation criteria. Except for obvious errors, the borrower acknowledges
that the relevant accounting records and vouchers are valid evidence of the borrower's debt.

 

2. The Borrower hereby irrevocably
undertakes that in any legal proceedings or other proceedings arising out of or relating to this Contract, the accounting records
and vouchers issued by the lender in accordance with its normal business operations shall be deemed as a valid debt proof, except
that the accounting records and vouchers are obviously wrong.

 

Article 15 Entry into
Force, Change, Rescission and Termination of the Contract

 

1. This Contract is signed
(or sealed) by the borrower's legal representative or authorized agent and is affixed with an official seal, as well as signed
(or sealed) by the legal representative/person in charge or authorized agent of the lender and is affixed with an official seal
(or a contract seal) prior to its effectiveness. If there is a guarantee contract, this Contract will be effective after all the
guarantee contracts become effective; if there is no guarantee contract, this Contract will be effective when this Contract is
established. After the date of the settlement of the debts stipulated in the Contract or after the date of all the settlement of
the debts and the costs owed by the borrower to the lender under Contract (whichever comes first), this Contract shall become invalid.

 

2. If the borrower seeks
a loan extension, he shall submit a written application to the lender and the written consent of the guarantor agreeing to continue
the guarantee 30 days in advance before the expiry date of this Contract. After the lender has examined and approved, and signed
the extension agreement, the loan hereunder shall be extended accordingly; before the two parties sign the extension agreement,
the Loan Contract will continue to be performed.

 

3. After this Contract becomes
effective, except for the stipulations in this Contract, neither the borrower nor the lender can arbitrarily change or rescind
the Contract ahead of schedule without authorization. If it is really necessary to change or rescind this Contract, it shall be
negotiated between the borrower and the lender and reached a written agreement. Before the written agreement is reached, this Contract
will continue to be performed.

 

    	 	 	18

     

    

 

4. The invalidity, revocation
or unenforceability of any term of this Contract does not affect the validity of other terms of this Contract.

 

Article 16 Transfer
and Information Disclosure

 

1. The lender may transfer
all or part of its rights under this Contract to a third party, and in that case, the assignee shall have the same rights as the
borrower as if it were a party to this Contract, but without the consent of the lender, the borrower may not assign any of the
rights under this Contract to a third party.

 

2. The borrower agrees that,
in addition to the disclosure required by the transfer in the preceding paragraph, for any information related to this Contract,
the lender may also disclose them to its headquarter, branches, affiliates, and personnel employed by these institutions. The disclosure
made by the borrower according to the requirements of any laws and regulations as well as the requirements of the regulatory agencies
and government agencies or the judicial institutions also belongs to the permitted disclosure.

 

Article 17 Applicable
Laws and Disputes Resolution

 

1. This Contract is governed
by the laws of China (for the purpose of this Contract, excluding Hong Kong, Macao Special Administrative Regions, and Taiwan)
and interpreted accordingly.

 

2. For any disputes related
to this Contract, the People's Court where the lender is domiciled has non-exclusive jurisdiction.

 

3. In the event that the
lender realizes the creditor’s rights by way of litigation due to borrower’s breach of contract, the borrower agrees
to pay all the expenses incurred by the lender, including but not limited to: litigation fees, enforcement fees, attorney agency
fees, travel expenses, adjustment fees, as well as assessment fees, auction transfer fees, and inquiries collected by related departments.

 

Article 18 Supplementary
Provisions

 

1. For the purpose of this
Contract, the term of “law” referred to in this Contract shall refer to laws, regulations, rules, local regulations,
judicial interpretations and any other applicable provisions.

 

    	 	 	19

     

    

 

2. For the purpose of this
Contract, the terms of "Contract", "Master Contract" and other documents referred to in this Contract shall
include subsequent amendments, alterations or additions to these documents; parties referred to in this Contract include but are
not limited to the borrower and the lender as well as the subjects themselves and their subsequent legal successors or inheritors.

 

3. The term of “expiry”
or “due” referred to in this Contractt shall include the circumstances in which the lender announces the early maturity
of the loan.

 

4. The attachment to this
Contract is an integral part hereof and has the same legal effect as the main text of this Contract.

 

5. If the matters not covered
in this Contract are to be supplemented, both parties may agree and record it in Article 19 of this Contract. Alternatively, a
separate written agreement may be made as an attachment to this Contract.

 

6. This Contract is made
in 3 originals, with the lender holding 1, the borrower holding 1 and the real estate department holding 1 which
are equally authentic.

 

Article 19 Other Matters
as Agreed by Both Parties

 

1. If the borrower fails
to use the loan according to the purpose, withdraw the amount of the loan according to the agreed method or comply with the commitment,
or the information of the loan application document is false, etc., the borrower shall bear the corresponding liability for breach
of contract, and our bank has the right to recover the loan in advance.

 

2. After the issuance
of the loan, if the borrower returns the product due to unqualified equipment acceptance, the borrower needs to inform the lender
in a timely manner and the lender recovers the amount of the loan that has been granted under the equipment;

 

3. During the loan period,
if a person transfers or disposes of the purchased equipment, the borrower shall fully repay the equipment purchase loans to our
bank;

 

4. If the borrower evades
the supervision of funds, the borrower shall bear the corresponding liability for breach of contract, and our bank may announce
the early expiration of the loan and has the right to request repayment of loans or dispose of collateral in advance.

 

(No text below this page)

  

 

 

    	 	 	20

     

    

 

(This is a signature page, no text below)

 

This Contract was signed by the following parties
on December 21, 2017. The parties to this Contract confirm that at the time of signing the Contract, the parties have provided
detailed explanations and discussions on all the terms, the parties have no doubts on all terms of the Contract and have an accurate
and unambiguous understanding on the legal meaning of the terms regarding restrictions or exemptions on the rights, obligations,
and responsibilities of the parties hereto.

 

	
        Borrower (official seal):   
	 
	 	
        Lender (official seal or contract
seal):
	 

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

 

	Main business address: 	 	 	Main business address:	 
	Zip Code:	 	
        Zip Code:

	Phone: 64084466	 	Phone:13998117132
	Fax: 	 	Fax:
	Email: 	 	Email:
	Contact: WANG Song 	 	Contact: ZHAO Zhe

 

    	 	 	21

     

    

 

2017SHLDAB10039
Loan Contract Attachment -Repayment Schedule

 

Repayments are made on a split basis, and the
specific amount and date of repayment are as follows:

 

	Year	 	Date	 	Amount (in figures)	 	Amount (in words)
	2019	 	March 20	 	1000	 	TEN MILLION ONLY
	 	June 20	 	1000	 	TEN MILLION ONLY
	 	September 20	 	1000	 	TEN MILLION ONLY
	 	December 20	 	1000	 	TEN MILLION ONLY
	 	 	 	 	 	 	 
	2020	 	March 20	 	1500	 	FIFTEEN MILLION ONLY
	 	June 20	 	1500	 	FIFTEEN MILLION ONLY
	 	September 20	 	1500	 	FIFTEEN MILLION ONLY
	 	December 20	 	1500	 	FIFTEEN MILLION ONLY
	 	 	 	 	 	 	 
	2021	 	March 20	 	2000	 	TWENTY MILLION ONLY
	 	June 20	 	2000	 	TWENTY MILLION ONLY
	 	September 20	 	2000	 	TWENTY MILLION ONLY
	 	December 20	 	2000	 	TWENTY MILLION ONLY
	 	 	 	 	 	 	 
	2022	 	March 20	 	1000	 	TEN MILLION ONLY
	 	June 20	 	1000	 	TEN MILLION ONLY
	 	September 20	 	1000	 	TEN MILLION ONLY
	 	December 20	 	1000	 	TEN MILLION ONLY
	 	 	 	 	 	 	 
	Total 	 	 	 	22000	 	TWO HUNDRED AND TWENTY MILLION ONLY

 

 

 

    	 	 	22

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