Document:

EX-4.13

 Exhibit 4.13 

SHARE SUBSCRIPTION AGREEMENT 
 This SHARE
SUBSCRIPTION AGREEMENT (this “Agreement”) is made and entered into on July 22, 2020 by and among: 
  

	1.	 Q&K International Group Limited, an exempted company incorporated under the laws of the Cayman Islands (the
“Company”); and 

  

	2.	 Great Alliance Co-living Limited, a limited liability company duly
incorporated and validly existing under the laws of the British Virgin Islands (the “Subscriber”). 

 Each of the parties
to this Agreement is referred to herein individually as a “Party” and collectively as the “Parties”. 

RECITALS 
  

	A.	 On July 22, 2020, Chengdu Liwu Apartment Management Limited (the “Assets Buyer”,
成都黎武公寓管理有限公司 in Chinese), an Affiliate of the Company, entered into an Asset Purchase Agreement (the “APA”,
《资产转让协议》 in Chinese) with four Affiliates of the Subscriber, namely, Beijing Lianyou Life Technology Limited
(北京联优生活科技有限公司 in Chinese), Beijing Lianyou Life Property Management Limited
(北京联优生活物业管理有限公司 in Chinese), Beijing Lianyou Life Smart Property Management Limited
(北京联优生活智选物业管理有限公司 in Chinese) and Beijing Meiliwu Asset Management Limited
(北京美丽屋资产管理有限公司 in Chinese) (the said four Affiliates are referred to hereinafter collectively as the “Assets Sellers”).

  

	B.	 Pursuant to the APA, the Assets Buyer agrees to acquire from the Asset Sellers and the Assets Sellers agrees to
sell to the Assets Buyer a series of apartment-renal-related assets (the “Target Assets”) including but not limited to 72,181 apartment rental units (“Target Units”). Pursuant to the APA, all debts and liabilities
arising out of Target Assets as of Asset Closing Date (“Asset Closing Liabilities”) are to be assumed by the Assets Buyer. 

  

	C.	 As a reward for the Subscriber’s assistance in procuring the Assets Sellers’ fulfillment of their
Obligations under the APA and all the Ancillary Documents thereto, the Company intends to issue to the Subscriber, and the Subscriber intends to subscribe for, a number of Class A Ordinary Shares of the Company (the “Issuance of Reward
Shares”). 

 NOW, THEREFORE, in consideration of the foregoing recitals, the mutual promises
hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties intending to be legally bound hereto hereby agree as follows: 

 

	1.	 Definitions. 

  

	1.1	 Unless otherwise provided herein, any capitalized terms shall have the respective meanings ascribed to or as
referenced for them in Exhibit A. 

  

	1.2	 Unless a provision hereof expressly provides otherwise: (i) the term “or” is not exclusive;
(ii) the terms “herein,” “hereof,” and other similar words refer to this Agreement as a whole and not to any particular section, subsection, paragraph, clause, or other subdivision; (iii) the masculine, feminine, and
neuter genders will each be deemed to include the others; (iv) the definitions of terms are equally applicable both to the singular and plural forms of such terms; (v) references to an agreement or other document are to it as amended,
supplemented, restated and otherwise modified from time to time and to any successor document (whether or not already so stated); (vi) references to a Person are references to such Person’s successors and permitted assigns (whether or not
already so stated); (vii) references to dollars or to “US$” are to currency of the U.S.; (viii) references to “U.S.” or “United States” are to the United States of America; and (ix) whenever the words
“include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” 

 

	2.	 Issuance of Reward Shares. 

 

	2.1	 Number of the Reward Shares to be Issued. The Parties hereby acknowledge and agree that, subject to the
terms and conditions hereof, the Company shall sell and issue to the Subscriber and/or the entities as designated by the Subscriber in writing (the “Designated Entities”) an aggregate number of Class A Ordinary Shares (the
“Reward Shares”) that shall be calculated in accordance with the formula below, at a price of US$0.00001 per share (the “Purchase Price Per Share”): 

Number of Reward Shares = (USD 101,000,000 (the “Reward Value”) - Asset Closing Liabilities) ÷ Average closing price of
ADS of ninety (90) days prior to the execution of the APA (the “Average ADS Price”) * 30, 
 For the purpose of this
Agreement, the Parties hereby acknowledge and agree that, the Asset Closing Liabilities is estimated to be USD 35,000,000 as of the APA Closing Date (the “Estimated Asset Closing Liabilities”), which shall be subject to any
subsequent adjustment as mutually confirmed by the Assets Buyer and the Assets Sellers based on audit and verification as of the APA Closing Date (the “Adjusted Asset Closing Liabilities”). 

  
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	2.2	 Adjustment of Number of Issuable Reward Shares to be Issued. The Parties hereby acknowledge and agree
that, in the event the Adjusted Asset Closing Liabilities is in excess of the Estimated Asset Closing Liabilities, such surplus shall be directly deducted from the Reward Value, and as a result of that, the number of Reward Shares issubale to the
Subscriber pursuant to Section 2.1 shall be automatically adjusted. Subject to the terms and conditions set forth in this Agreement, the Company agrees to issue and allot to the Subscriber, and the Subscriber agrees to subscribe and pay for the
aggregate number of Reward Shares as set forth on Schedule I attached hereto, at an aggregate purchase price which shall be calculated in accordance with the formula below (the “Aggregate Purchase Price”): 

Aggregate Purchase Price = Purchase Price Per Share * Number of Reward Shares. 

 

	2.3	 Payment of Purchase Price. Subject to the terms and conditions hereof and in consideration of the
Issuance of Reward Shares as set forth above, the Subscriber hereby agrees to pay the Aggregate Purchase Price. 

  

	2.4	 Fulfillment by the Company of its Obligations. The Parties mutually agree that, the Subscriber is
entitled to receive and hold all or any part of the Reward Shares through the Designated Entities. The Subscriber shall instruct the Company to issue and allot the Reward Shares pursuant to the allocation indicated by prior written notices
(“Designated Allocations”) no later than five (5) Business Days before the occurrence of each applicable Closing. For the avoidance of doubt, once the Company has issued and allotted the Reward Shares pursuant to the Designated
Allocations, the Company’s obligation of issuing and allotting shares hereunder shall be deemed as have been fulfilled. The Parties hereby acknowledge and agree that, in no event that shall the Company be responsible for performing any
contractual obligations to the Designated Entities. 

  

	3.	 Closings. 

  

	3.1	 Closings. The consummation of the sale and issuance of the Reward Shares pursuant to Section 2.2
shall take place, by three installments as set forth below, remotely via the exchange of documents and signatures as of the date hereof, among which: 

  

	 	(i)	 the Company shall sell and issue to the Subscriber (or its Designated Entities) the twenty percent (20%) of the
total Reward Shares no later than thirty 30 days after the conditions as set forth in Section 4.1(i) are fulfilled or waived by the Company (the “Initial Closing”); 

 

	 	(ii)	 the Company shall sell and issue to the Subscriber (or its Designated Entities) the fifty percent (50%) of the
total Reward Shares no later than thirty 30 days after the conditions as set forth in Section 4.1(ii) are fulfilled or waived by the Company (the “Second Closing”); and 

  
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	 	(iii)	 the Company shall issue and sell to the Subscriber (or its Designated Entities) the remaining thirty percent
(30%) of the total Reward Shares no later than thirty (30) days after the conditions as set forth in Section 4.1(iii) are fulfilled or waived by the Company (the “Third Closing”, together with the Initial Closing and the
Second Closing, each as a “Closing” and collectively as “Closings”, as the context may require) 

  

	3.2	 Deliveries by the Company at each Closing. At each Closing, the Company shall deliver (or cause to be
delivered) to the Subscriber: 

  

	 	(i)	 a copy of the share certificate in the name of the Subscriber (or its Designated Entities) representing the
proportion of Reward Shares issuable at such Closing, with the original duly executed share certificate delivered to the Subscriber within 10 Business Days after such Closing; and 

 

	 	(ii)	 a copy of the updated register of members of the Company, certified by the registered office provider of the
Company, reflecting the issuance to the Subscriber (or its Designated Entities) of the proportion of Reward Shares issuable at such Closing. 

  

	4.	 Conditions of the Company’s Obligations at the Closings. 

 

	(i)	 The obligations of the Company to consummate the Initial Closing are subject to the fulfillment or waive by the
Company in writing of each of the following conditions: 

  

	 	(a)	 The representations and warranties of the Subscriber set forth in Section 5 shall be true and
correct as of the Initial Closing; 

  

	 	(b)	 The Subscriber shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by it at or before the Initial Closing; and 

  

	 	(c)	 The APA and all of its Ancillary Document shall have been duly executed and delivered by all parties thereto.

  

	(ii)	 The obligations of the Company to consummate the Second Closing with respect to the Subscriber are subject to
the fulfillment or waive by the Company in writing of each of the following conditions: 

  

	 	(a)	 All of the percent conditions for Initial Closing as set forth in Section 4.1(i) are fulfilled or waived
by the Company; 

  

	 	(b)	 The representations and warranties of the Subscriber set forth in Section 5 shall be true and
correct as of the Second Closing; 

  
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	 	(c)	 The Subscriber shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by it at or before the Second Closing; and 

  

	 	(d)	 The Assets Sellers have altered (or caused to be altered) at least ninety percent (90%) of the bank account(s)
receiving rental income under the Apartment Rental Agreements to the bank account(s) designated by the Assets Buyer; 

  

	(iii)	 The obligations of the Company to consummate the Third Closing are subject to the fulfillment or waive by the
Company in writing of each of the following conditions: 

  

	 	(a)	 All of the percent conditions for Initial Closing and Second Closing are fulfilled or waived by the Company;

  

	 	(b)	 The representations and warranties of the Subscriber set forth in Section 5 shall be true and
correct as of the Third Closing; and 

  

	 	(c)	 The Subscriber shall have obtained any and all Approvals and waivers necessary for the consummation of the
transactions contemplated hereby, each of which shall be in full force and effect as of the Third Closing; and 

  

	 	(d)	 The Assets Sellers have altered (or caused to be altered) at least eighty percent (80%) of the lessees under
the Original Leases to the Assets Buyer or any entities designated by the Assets Buyer. 

  

	5.	 Representations and Warranties of the Company. The Company hereby represents and warrants to the
Subscriber that the following statements will be true and correct as of each Closing:  

  

	5.1	 Incorporation, Good Standing and Qualification. The Company is duly incorporated, validly
existing and in good standing under the Laws of the Cayman Islands and has all requisite power and authority to perform its obligations under this Agreement. The Company is not in, nor is it anticipated to enter into, liquidation, dissolution,
bankruptcy, insolvency or winding-up. 

  

	5.2	 Due Authorization. This Agreement has been duly executed and delivered by the Company and, when executed
and delivered, constitutes valid and legally binding obligations of the Company, enforceable against the Company in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other
Laws of general application affecting enforcement of creditors’ rights generally, and (ii) as limited by Laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. 

  
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	5.3	 Valid Issuance. The Reward Shares will be duly and validly issued, fully paid and non-assessable, free of any Liens. 

  

	5.4	 No Violation. Neither the execution nor delivery of this Agreement nor the full performance by the
Company of its obligations hereunder will violate any applicable Law to which the Company is subject or any Constitutional Documents of the Company. 

  

	6.	 Representations and Warranties of the Subscriber. The Subscriber hereby represents and warrants with
respect to itself to the Company that: 

  

	6.1	 Organization; Good Standing and Qualification. The Subscriber is duly organized, validly existing and in
good standing under the Laws of the place of its incorporation or establishment (to the extent the concept of good standing is applicable in such place). The Subscriber is not in, nor is it anticipated to enter into, liquidation, dissolution,
bankruptcy, insolvency or winding-up. 

  

	6.2	 Due Authorization. The Subscriber has the requisite power, authority and capacity to enter into this
Agreement and to perform its obligations hereunder. The execution, delivery and performance by the Subscriber of this Agreement have been duly authorized by all necessary corporate or other action on the part of the Subscriber. This Agreement
constitutes valid and legally binding obligations of the Subscriber, enforceable against the Subscriber in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other Laws of
general application affecting enforcement of creditors’ rights generally, and (ii) as limited by Laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. 

 

	6.3	 Consents and Approvals. No Approval is required to be obtained or made by or with respect to the
Subscriber in connection with the execution, delivery or performance of this Agreement, or the consummation of the transactions contemplated hereby, by the Subscriber. 

 

	6.4	 No Violation. Neither the execution nor delivery of this Agreement nor the full performance by the
Subscriber of its obligations hereunder violates any applicable Law to which the Subscriber is subject or any Constitutional Document of the Subscriber. 

  

	6.5	 US Securities Laws. (a) The Subscriber is purchasing the Reward Shares for investment for
its own account, not as a nominee or agent, and not with a view to, or for sale in connection with, any distribution within the meaning of the Securities Act. The Subscriber exercises sole investment discretion with full power to make the
acknowledgements, representations and agreements contained herein. The Subscriber (either alone or together with its advisors) has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits and
risks of its investment in the Reward Shares. The Subscriber has the ability to bear the economic risk of its investment in the Reward Shares, has adequate means of providing for its current and contingent needs, has no need for liquidity with
respect to its investment in the Reward Shares, and is able to sustain a substantial or complete loss of its investment in the Reward Shares. 

  
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	6.6	 Listed Shares. The Subscriber acknowledges that the Company’s shares are listed on The
NASDAQ Stock Market and the Company is therefore required to publish and make available publicly the Company SEC Documents which are necessary to enable the holders of the shares of the Company and the public to appraise the position of the Company
and its Subsidiaries. The Subscriber understands that no disclosure or offering document has been prepared in connection with the sale of the Reward Shares. The Subscriber will not hold the Company, or any of their respective affiliates responsible
for any misstatements in or omissions from any publicly available information concerning the Company including any Company SEC Documents. 

  

	6.7	 Due Diligence. The Subscriber acknowledges and agrees that it has (a) conducted its own
investigation with respect to the Reward Shares and the Company; (b) has had the opportunity to ask questions of and to receive answers from the Company and its Subsidiaries; (c) has had the opportunity to review all publicly available
records and filings and all other documents concerning the Company and/or the Subsidiaries that it considers necessary or appropriate in connection with the purchase of the Reward Shares; (d) has received all information that it believes is
necessary or appropriate in connection with its purchase of the Reward Shares; and (e) has consulted its own independent advisors or otherwise satisfied itself concerning, without limitation, the tax, legal, currency and other economic
considerations related to the investment in the Reward Shares, and has only relied on the advice of, or has only consulted with, such independent advisers. 

  

	7.	 Covenants 

  

	7.1	 Covenants by the Subscriber 

 

	 	(a)	 The Subscriber hereby understands, acknowledges and covenants that, as of the date of this Agreement and each
Closing, no action has been taken to permit an offering of the Reward Shares in any jurisdiction and the Subscriber will not offer or sell any of the Reward Shares in any jurisdiction or in any circumstances in which such offer or sale is not
authorized or to any person to whom it is unlawful to make such offer, sale or invitation except under circumstances that will result in compliance with any applicable laws and/or regulations; in particular, the Subscriber understands that the
Reward Shares, when issued, are not being registered under the Securities Act, are being offered and sold in a transaction that does not involve any public offering in the United States within the meaning of the Securities Act and is exempt from the
registration requirements of the Securities Act and are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act. 

  
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	 	(b)	 Lock-up Period. The Subscriber agrees and covenants that, it
shall not, and shall procure each Designated Entity who will receive its respective portion of the Reward Shares not to Dispose of the respective portion of the Reward Shares until the expiration of the
lock-up period (“Lock-up Period”) as set forth below: 

  

	 	(i)	 for 30% of total Reward Shares, the Lock-up Period shall expire on
June 30, 2021; 

  

	 	(ii)	 for up to 60% of total Reward Shares, the Lock-up Period shall expire
on June 30, 2022; and 

  

	 	(iii)	 for the remaining 40% of total Reward Shares, the Lock-up Period shall
expire on June 30, 2023. 

 For the avoidance of doubt, the Subscriber shall be entitled to, at its own discretion,
determine the allocation of Reward Shares released pursuant to the schedule set forth above among the Designated Entities. 
  

	7.2	 Registration Rights. The Company covenants and agrees as follows: 

 

	 	(a)	 Right to Piggyback. At any time after the expiration of the Lock-up
Period, if the Company proposes to register any of its common equity securities under the Securities Act (other than a registration statement on Form S-8 or a related or successor form relating solely to an
employee benefit plan or a registration on Form S-4 or a related or successor form relating solely to a transaction under SEC Rule 145), whether for its own account or for the account of one or more
stockholders of the Company, and the registration form to be used may be used for any registration of Registrable Reward Shares (a “Piggyback Registration”), the Company shall give prompt written notice (in any event within 10 days
after its receipt of notice of any exercise of other demand registration rights) to the Subscriber of its intention to effect such a registration and shall include in such registration all Registrable Reward Shares released pursuant to
Section 7.1(b) above (“Released Reward Shares”) with respect to which the Company has received written requests from the Subscriber for inclusion therein within 15 days after the receipt of the Company’s notice, provided
that, the Selling Expenses and a proportion part of the registration and filing fees, printing expenses (if required), fees of counsel and independent public accountants incurred by the Company in complying with the Piggyback Registration provided
hereunder shall be borne by the Subscriber. “Registrable Reward Shares” means all the Class A Ordinary Shares beneficially owned by the Subscriber, any of the Designated Entities or any of their respective Affiliates from time to time
(including, without limitation, any and all Class A Ordinary Shares issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in
exchange for, or in replacement of, such Class A Ordinary Shares); provided, however, that Registrable Reward Shares shall not include any securities that are or became tradeable without restriction as to volume pursuant to Securities Act Rule
144 or that are sold by a Person either pursuant to a Registration Statement or Rule 144. 

  
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	 	(b)	 Form S-3 or Form F-3
Registration. The Company shall use its best efforts to qualify for registration on Form S-3 or Form F-3 or any comparable or successor form promptly and to maintain
such qualification thereafter. If the Company is qualified to use Form S-3 or Form F-3, the Subscriber shall have a right to request in writing that the Company effect a
registration on either Form S-3 or Form F-3 and any related qualification or compliance with respect to all or a part of the Released Registrable Reward Shares.

  

	 	(c)	 The Subscriber may deliver a written request to the Company, stating the number of Released Registrable Reward
Shares requested to be registered, within thirty (30) days prior to the expiration of each Lock-up Period and at any time thereafter. Whenever required to effect the registration of any Released
Registrable Reward Shares under this Section 7.2, the Company shall, as expeditiously as possible, take all commercially reasonable efforts and actions to effect the registration of such Released Registrable Reward Shares, including but without
limitation, (i) prepare and file with the SEC a registration statement with respect to such Released Registrable Reward Shares and use its best efforts to cause such registration statement to become effective upon expiration of the respective Lock-up Period, and keep any such registration statement effective until the Subscriber (or any of the Designated Entities, as applicable) have completed the distribution described in the registration statement
relating thereto; (ii) prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the
Securities Act with respect to the disposition of all Released Registrable Reward Shares covered by such registration statement; (iii) take such further actions to cause all such Released Registrable Reward Shares covered by such registration
statement to be listed listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities issued by the Company are then listed; and (iv) promptly notify the
Subscriber of the progresses of such registration. 

  
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	 	(d)	 Rule 144 Reporting. With a view to making available to the Subscriber the benefits of certain rules and
regulations of the SEC which may permit the sale of the Registrable Reward Shares to the public without registration, the Company agrees to: 

  

	 	(i)	 make and keep public information available, as those terms are understood and defined in Rule 144 or any
similar or analogous rule promulgated under the Securities Act; 

  

	 	(ii)	 file with the SEC, in a timely manner, all reports and other documents required of the Company under the
Securities Act or the Exchange Act; 

  

	 	(iii)	 take such further action as the Subscriber may reasonably request, all to the extent required to enable the
Subscriber to be eligible to sell Registrable Reward Shares pursuant to Rule 144 (or any similar rule then in effect). 

  

	 	(e)	 Notwithstanding the foregoing, upon expiration of the applicable
Lock-up Period, at the election and request of the Subscriber, the Company shall provide all necessary cooperation and assistance so as to convert the Released Registrable Reward Shares into ADS of the Company
as expeditiously as possible. 

  

	 	(f)	 All expenses (other than Selling Expenses) incurred in connection with registrations, filings, or
qualifications pursuant to Section 7.2(b), including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company, shall be borne by and paid by the Company.

  

	8.	 Confidentiality. 

 

	 	(a)	 Each Party acknowledges and agrees that the following are confidential (“Confidential
Information”): this Agreement, the transactions contemplated herein, information regarding this Agreement, information regarding the Company, the Subscriber and their respective Affiliates, and information, materials and documents obtained
pursuant to this Agreement, with the exception that any of the foregoing which (i) is or becomes generally available to the public other than as a result of a disclosure in violation of this Agreement or other obligation of confidentiality,
(ii) was available on a non-confidential basis prior to its disclosure pursuant to this Agreement or the transactions contemplated hereunder, or (iii) becomes available on a non-confidential basis from a Person who is not prohibited from disclosing such information by a legal, contractual or fiduciary obligation. 

 

	 	(b)	 No disclosure of the Confidential Information is permitted except (i) to employees and/or business, legal
or financial advisors of the Company or the Subscriber as necessary to the performance of its obligations in connection herewith and with this Agreement so long as such Persons agree to maintain the confidentiality of the Confidential Information so
disclosed, (ii) as the parties hereto may mutually agree in writing (including the language on any disclosure), (iii) to any Governmental Authority to the extent reasonably required for the purposes of the tax affairs of the party, (iv) to
the extent advised by competent legal counsel that such disclosure is required by applicable Law (including but not limited to the rules or requirements of any stock exchange) or Governmental Authority, in which case the parties hereto shall, to the
extent allowed under the circumstances, in good faith attempt to agree on the content of the disclosure, and (v) that the Company, and/or the Subscriber may be required to file with the SEC such schedules and forms as may be required under
Section 13(d) of the 1934 Act or any other applicable Law, as applicable, which may need to contain as an exhibit thereto a copy of this Agreement. The covenants set forth in this Section 8 will survive any termination of this Agreement.

  
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	9.	 Termination of Agreement. 

 

	9.1	 Grounds for Termination. This Agreement may be terminated at any time prior to the Initial Closing:

  

	 	(a)	 by mutual written agreement of the Company and the Subscriber; 

 

	 	(b)	 by written notice from any party hereto if there shall be any applicable Law that makes consummation of the
transactions contemplated hereby illegal or otherwise prohibited; or 

  

	 	(c)	 by a written notice from any party hereto that is not in material breach of this Agreement to the party hereto
that is in material breach of its representations, warranties or obligations under this Agreement and such breach (if capable of remedy) is not remedied within twenty (20) Business Days after its receipt of a written notice from the other party
requesting the remedy of such breach. 

  

	9.2	 Effect of Termination. If this Agreement is terminated, this Agreement shall cease to have any further
effect, except that provisions of Section 8, Section 9.2, Section 10.1 and Section 10.2 shall survive such termination. 

  

	10.	 Governing Law and Dispute Resolution. 

 

	10.1	 Governing Law. This Agreement shall be governed by and construed exclusively in accordance with the law
of the State of New York, without regard to the conflicts of law rules of such state. 

  

	10.2	 Dispute Resolution. The Parties agree to negotiate in good faith to resolve any dispute between them
regarding this Agreement. If the negotiations do not resolve the dispute to the reasonable satisfaction of all Parties within thirty (30) days after the commencement of the negotiation, such dispute shall be referred to and finally settled by
arbitration at Hong Kong International Arbitration Centre (“HKIAC”). The arbitration shall be conducted in Hong Kong and shall be administered by the HKIAC in accordance with the HKIAC Administered Arbitration Rules in force at the
time of the commencement of the arbitration. The dispute shall be referred to an arbitration tribunal consisting of three (3) arbitrators appointed in accordance with the HKIAC Administered Arbitration Rules. The decision of the tribunal shall
be final and binding on the Parties, and the prevailing Party may apply to a court of competent jurisdiction for enforcement of such award. The costs and expenses of the arbitration, including the fees of the arbitral tribunal, shall be borne and
paid by the Parties in such proportions as the arbitral tribunal shall determine. The language of the arbitration shall be English. 

  
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	11.	 Miscellaneous 

 

	11.1	 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure
to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the Parties. This Agreement and the rights and obligations therein may not be assigned by any Party without the written consent of the other
Parties. 

  

	11.2	 Entire Agreement. This Agreement, including any schedules and exhibits hereto, constitutes the entire
understanding and agreement among the Parties with regard to the subjects of this Agreement. 

  

	11.3	 Amendments. Any term of this Agreement may be amended only with the written consent of the Parties.

  

	11.4	 Notice. All notices, requests, claims, demands and other communications hereunder shall be in writing
and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by an internationally recognized overnight courier service, by facsimile or registered or certified mail (postage prepaid, return
receipt requested) or by electronic mail to the respective Parties at the addresses specified on Schedule II hereto (or at such other address for a Party as shall be specified in a notice given in accordance with this
Section 11.4). Where a notice is sent by next-day or second-day courier service, service of the notice shall be deemed to be effected by properly addressing,
pre-paying and sending by next-day or second-day service through an internationally-recognized courier a letter containing the
notice, with a written confirmation of delivery, and to have been effected at the earlier of (i) delivery (or when delivery is refused) and (ii) expiration of two (2) Business Days after the letter containing the same is sent as
aforesaid. Where a notice is sent by facsimile or electronic mail, service of the notice shall be deemed to be effected by properly addressing, and sending such notice through a transmitting organization, with a written confirmation of delivery, and
to have been effected on the day the same is sent as aforesaid, if such day is a Business Day and if sent during normal business hours of the recipient, otherwise the next Business Day. 

 

	11.5	 Delays or Omissions; Waivers. Upon any breach or default of any other Party under this Agreement, no
delay or omission to exercise any right, power or remedy accruing to any Party shall impair any such right, power or remedy of such Party nor shall it or any waiver of any other breach or default theretofore or thereafter occurring be construed to
be a waiver of any such breach or default, or an acquiescence therein, or of any similar breach or default thereafter occurring. Any waiver by any Party of any condition or breach or default under this Agreement must be in writing and shall be
effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by Laws or otherwise afforded to any Party, shall be cumulative and not alternative. 

  
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	11.6	 Severability. If any provision of this Agreement is found to be invalid or unenforceable, then such
provision shall be construed, to the extent feasible, so as to render the provision enforceable and to provide for the consummation of the transactions contemplated hereby on substantially the same terms as originally set forth herein, and if no
feasible interpretation would save such provision, it shall be severed from the remainder of this Agreement, which shall remain in full force and effect unless the severed provision is essential to the rights or benefits intended by the Parties. In
such event, the Parties shall use reasonable best efforts to negotiate, in good faith, a substitute, valid and enforceable provision or agreement which most nearly effects the Parties’ intent in entering into this Agreement.

  

	11.7	 Interpretation; Titles and Subtitles. This Agreement shall be construed according to its fair language.
The rule of construction to the effect that ambiguities are to be resolved against the drafting Party shall not be employed in interpreting this Agreement. The titles of the sections and subsections of this Agreement are for convenience of reference
only and are not to be considered in construing this Agreement. Unless otherwise expressly provided herein, all references to sections, schedules and exhibits herein are to sections, schedules and exhibits of or to this Agreement.

  

	11.8	 Counterparts; Effectiveness. This Agreement may be executed in any number of counterparts, each of which
shall be an original, but all of which together shall constitute one instrument. This Agreement shall become effective when each Party shall have signed a counterpart. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 13 

 IN WITNESS WHEREOF, the Parties have caused their respective duly authorized representatives
to execute this Agreement on the date first above written. 
  

			
	Q&K International Group Limited
		
	By:	 	/s/ Chengcai Qu
	Name:
	 	
	Title:	 	Director
	[Chop:Q&K International Group Limited]

 IN WITNESS WHEREOF, the Parties have caused their respective duly authorized representatives
to execute this Agreement on the date first above written. 
  

			
	Great Alliance Co-living Limited
		
	By:	 	

	Name:
	 	
	Title:	 	Authorized Signatory

 EXHIBIT A DEFINITIONS 

“ADS” means American depositary shares, each representing thirty (30) Class A Ordinary Shares. 

“Affiliate” means, with respect to any Person, any other Person directly or indirectly Controlling, Controlled by, or under common Control
with such Person; provided that neither the Company nor any Subsidiary shall be considered an Affiliate of the Subscriber. 
 “Ancillary
Documents” means all corporate actions on the part of each Assets Seller necessary for the authorization, execution and delivery of the APA, including the shareholders’ and/or board resolution of such Assets Seller.  

“Apartment Rental Agreements” means the apartment rental agreements of Target Units between the Assets Sellers and their tenants. 

“Approval” means any approval, authorization, release, order, consent, license or permit required to be obtained from, or any registration,
qualification, designation, declaration, filing, notice, statement or other communication required to be filed with or delivered to, any Governmental Authority or any other Person. 

“APA Closing Date” has the meaning as ascribed to it in the APA, i.e. June 30, 2020. 

“Asset Closing Liabilities” means all liabilities arising out of Target Assets as of Asset Closing Date, including but not limited to pre-paid rent and unpaid due rent under Original Leases, pre-paid rent under Apartment Rental Agreements, rental deposit under Original Leases and Apartment Rental Agreements,
rental loan of current rental clients, liquidated damages, late fee, etc. 
 “Articles” means the Third Amended and Restated Memorandum and
Articles of Association of the Company, as adopted on September 30, 2019 and as in full force and effect immediately upon the closing of the Offering on November 7, 2019. 

“Business Day” means any day that is not a Saturday, Sunday, legal holiday or other day on which commercial banks are required or authorized
by Applicable Laws to be closed in the PRC, the United States, Hong Kong, the British Virgin Islands or the Cayman Islands. 
 “Constitutional
Document” means, with respect to a particular legal entity, the articles of incorporation, certificate of incorporation, formation or registration (including, if applicable, certificates of change of name), memorandum of association,
articles of association, bylaws, articles of organization, limited liability company agreement, trust deed, trust instrument, operating agreement, joint venture agreement, business license, or similar or other constitutive, governing, or charter
documents, or equivalent documents, of such entity. 
 “Class A Ordinary Shares” means the class a ordinary shares, par value
US$0.00001 per share, of the Company, with the rights and privileges as set forth in the Articles. 

 “Control” of a given Person means the power or authority, whether exercised or not, to
direct the business, management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; provided, that such power or authority shall conclusively be presumed to exist upon
possession of beneficial ownership or power to direct the vote of more than fifty percent (50%) of the votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control the composition of a majority of the
board of directors or equivalent governing body of such Person. The terms “Controlled” and “Controlling” have meanings correlative to the foregoing. 

“Dispose of” with respect to the Reward Shares, means lend, offer, pledge, hypothecate, hedge, sell, make any short sale of, loan, contract
to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Reward Share which it acquired by virtue of
the Reward Shares or (b) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the equity securities of the Company, whether any such transaction described in
clause (a) or (b) above is to be settled by delivery of the Reward Shares or such other securities, in cash or otherwise. 
 “Governmental
Authorities” means any nation, government, province, state, or any entity, authority or body exercising executive, legislative, judicial, regulatory, foreign exchange or administrative functions of or pertaining to government, including any
government authority, agency, department, board, commission or instrumentality of any government or any political subdivision thereof, court, tribunal, arbitrator, the governing body of any securities exchange, and self-regulatory
organization, in each case having competent jurisdiction (with each of such Governmental Authorities being referred to as a “Governmental Authority”). 

“Hong Kong” means the Hong Kong Special Administrative Region of the People’s Republic of China. 

“Law” means any law, rule, constitution, code, ordinance, statute, treaty, decree, regulation, common law, order, official policy, circular,
provision, administrative order, interpretation, injunction, judgment, ruling, assessment, writ or other legislative measure, in each case of any Governmental Authority. 

“Lien” means: 
  

	(a)	 any mortgage, charge, lien, pledge or other encumbrance securing any obligation of any Person;

  

	(b)	 any option, right to acquire, right of pre-emption, right of set-off or other arrangement under which money or claims to, or for the benefit of, any Person may be applied or set off so as to effect discharge of any sum owed or payable to any Person; or 

Share Subscription Agreement 

	(c)	 any equity, assignment, hypothecation, title retention, claim, restriction, power of sale or other type of
preferential arrangement the effect of which is to give a creditor in respect of indebtedness a preferential position in relation to any asset of a Person on any insolvency proceeding of that Person. 

“Original Leases” means the original leases of Target Units between the Assets Sellers and Target Units’ original lessor. 

“Person” means any individual, corporation, partnership, limited partnership, proprietorship, association, limited liability company, firm,
trust, estate or other enterprise or entity. 
 “PRC” means the People’s Republic of China and for purposes of this Agreement,
excludes Hong Kong, Macao Special Administrative Region and Taiwan. 
 “SEC” means the Securities and Exchange Commission. 

“Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

“Selling Expenses” means all underwriting discounts, selling commissions, and stock transfer taxes applicable to the sale of Registrable
Reward Shares, and fees and disbursements of counsel for the Subscriber. 
 “Subsidiary” means, with respect to any given Person, any other
Person that is Controlled directly or indirectly by such given Person. 
 Share Subscription Agreement 

 SCHEDULE I 

List of Entities Receiving the Reward Shares 
  

																							
	 Name of

Subscriber
	  	Class of
Reward
Shares	  	Aggregate
Number of
Reward Shares	 	  	Number of Reward
Shares to be Issued
on the First Closing	 	  	Number of Reward
Shares to be Issued
on the Second Closing	 	  	Number of Reward
Shares to be Issued
on the Third Closing	 	  	Aggregate
Purchase Price	 
	 Great Alliance Co-living Limited
	  	Class A
Ordinary
Shares	  	 	128,589,392	 	  	 	25,717,878	 	  	 	64,294,696	 	  	 	38,576,818	 	  	US$	1,285.89	 

 SCHEDULE II 

NOTICESEX-4.14

 Exhibit 4.14 

SHARE SUBSCRIPTION AGREEMENT 
 This SHARE
SUBSCRIPTION AGREEMENT (this “Agreement”) is made and entered into on July 22, 2020 by and among: 
  

	1.	 Q&K International Group Limited, an exempted company incorporated under the laws of the Cayman Islands (the
“Company”); and 

  

	2.	 Beautiful House Limited, a limited liability company duly incorporated and validly existing under the laws of
the British Virgin Islands (the “Subscriber”). 

 Each of the parties to this Agreement is referred to herein individually
as a “Party” and collectively as the “Parties”. 
 RECITALS 

 

	A.	 On July 22, 2020, Chengdu Liwu Apartment Management Limited (the “Assets Owner”,
成都黎武公寓管理有限公司 in Chinese), an Affiliate of the Company, entered into an Asset Purchase Agreement (the “APA”,
《资产转让协议》 in Chinese) and acquired a series of apartment-renal-related assets (the “Target Assets”) including but not limited to 72,181 apartment rental units (“Target
Units”) from certain assets sellers (“Assets Seller”). Pursuant to the APA, all debts and liabilities arising out of Target Assets as of APA Closing Date (“Asset Closing Liabilities”) are to be assumed by
the Assets Owner. 

  

	B.	 On July 22, 2020, the Assets Owner, entered into an Operation Service Agreement (the
“OSA”, 《承包运营协议》 in Chinese) with Beijing Yihongyue Property Brokerage Limited
(北京易鸿悦房地产经纪有限公司 in Chinese) (the “Operator”, an Affiliate of the Subscriber). Pursuant to the OSA, the Operator agrees to provide
contracted operating service for a term of eight (8) years (“Operation Term”) for (i) the Target Units and (ii) any new rental units subsequently acquired by the Operator on behalf of the Asset Owner after the
execution of OSA (“New Units”, together with Target Units as “Operating Units”). 

  

	C.	 Pursuant to the OSA, the Operator undertakes that the earnings before interest, taxes, depreciation, and
amortization (after deduction of value-added tax) generated from New Units (“Post-VAT EBITDA”) shall reach certain performance projection
(“Post-VAT EBITDA Projection”) as mutually agreed and confirmed by the Asset Owner and the Operator according to the OSA. 

	D.	 According to the OSA, as of the Assets Closing Date, some rental clients of Target Units have ceased their stay
at Target Units while their rental loans, which become due and payable, have not yet been fully repaid (“Departed Client Rental Loans”). Pursuant to the OSA, subject to terms and conditions of the APA, if Departed Client Rental
Loans is to be included in Asset Closing Liabilities as mutually confirmed by the Asset Owner and the Asset Sellers, then any principal of Departed Client Rental Loan due and payable in the first six (6) months of the Operation Term
(“Rental Loan Principal”) shall be advanced by the Operator on behalf of the Asset Owner (or its designated Affiliate(s)). 

  

	E.	 As a reward for the Subscriber’s assistance in procuring the Operator’s fulfillment of their
Obligations under the OSA and all the Ancillary Documents thereto, the Company intends to issue to the Subscriber, and the Subscriber intends to subscribe for, a number of Class A Ordinary Shares of the Company (the “Issuance of Reward
Shares”). 

 NOW, THEREFORE, in consideration of the foregoing recitals, the mutual promises hereinafter set forth,
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties intending to be legally bound hereto hereby agree as follows: 

 

	1.	 Definitions. 

  

	1.1	 Unless otherwise provided herein, any capitalized terms shall have the respective meanings ascribed to or as
referenced for them in Exhibit A. 

  

	1.2	 Unless a provision hereof expressly provides otherwise: (i) the term “or” is not exclusive;
(ii) the terms “herein,” “hereof,” and other similar words refer to this Agreement as a whole and not to any particular section, subsection, paragraph, clause, or other subdivision; (iii) the masculine, feminine, and
neuter genders will each be deemed to include the others; (iv) the definitions of terms are equally applicable both to the singular and plural forms of such terms; (v) references to an agreement or other document are to it as amended,
supplemented, restated and otherwise modified from time to time and to any successor document (whether or not already so stated); (vi) references to a Person are references to such Person’s successors and permitted assigns (whether or not
already so stated); (vii) references to dollars or to “US$” are to currency of the U.S.; (viii) references to “U.S.” or “United States” are to the United States of America; and (ix) whenever the words
“include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” 

 

	2.	 Issuance of Reward Shares. 

 

	2.1	 Number of the Reward Shares to be Issued. The Parties hereby acknowledge and agree that, subject to the
terms and conditions hereof, the Company shall sell and issue to the Subscriber up to 99,631,824 Class A Ordinary Shares (the “Reward Shares”) at a price of US$0.00001 per share (the “Purchase Price Per
Share”).  

  
 2 

	2.2	 Payment of Purchase Price. Subject to the terms and conditions hereof and in consideration of the
Issuance of Reward Shares as set forth above, the Subscriber hereby agrees to pay an aggregate purchase price which shall be calculated in accordance with the formula below (the “Aggregate Purchase Price”): 

Aggregate Purchase Price = Purchase Price Per Share * Number of Reward Shares 

 

	2.3	 Additional Shares. The Parties hereby acknowledge and agree that, subject to the terms and conditions
hereof, in addition to the Reward Shares issuable pursuant to Section 2.1, the Company shall, as a guarantee of the repayment of the Rental Loan Principal, additionally sell and issue to the Subscriber 11,476,782 Class A Ordinary Shares
(the “Additional Shares”) at the Purchase Price Per Share. 

  

	2.4	 Payment of Additional Price. Subject to the terms and conditions hereof and in consideration of the
issuance of Additional Shares as set forth above, the Subscriber hereby agrees to pay an aggregate price which shall be calculated in accordance with the formula below (the “Aggregate Additional Price”): Aggregate Additional Price =
Purchase Price Per Share * Number of Additional Shares 

  

	3.	 Closings. 

  

	3.1	 Closings. The Parties hereby acknowledge and agree that, the consummation of the sale and issuance of
the Reward Shares pursuant to Section 2.1 and the consummation of the sale and issuance of the Additional Shares pursuant to Section 2.3, shall take place, by multiple installments as set forth below, remotely via the exchange of documents
and signatures as of the date hereof, among which: 

  

	 	(i)	 For the first fiscal year of the Operation Term (the “First Fiscal Year”), the Company shall
sell and issue to the Subscriber forty percent (40%) of the total Reward Shares (i.e., 39,852,730 Class A Ordinary Shares) in four installments that divided and adjusted in accordance with Section 3.2 below, each installment of Reward
Shares shall be sold and issued by the Company at the end of each quarter of the First Fiscal Year, no later than ten (10) Business Days the conditions as set forth in Section 4.1(i) are fulfilled or waived by the Company (the
“First-year Closings”); 

  

	 	(ii)	 For the second fiscal year of the Operation Term (the “Second Fiscal Year”), the Company shall
sell and issue to the Subscriber sixty percent (60%) of the total Reward Shares (i.e., 59,779,094 Class A Ordinary Shares) in four installments that divided and adjusted in accordance with Section 3.2 below, each installment of the total
Reward Shares shall be sold and issued at the end of each quarter of the Second Fiscal Year, no later than ten (10) Business Days after the conditions as set forth in Section 4.1(ii) are fulfilled or waived by the Company (the
“Second-year Closings”). 

  
 3 

	 	(iii)	 For the closing of Additional Shares, the Company shall sell and issue to the Subscriber the total Additional
Shares no later than ten (10) Business Days after the conditions as set forth in Section 4.1(iii) are fulfilled or waived by the Company (the “Additional Shares Closing”, together with First-year Closings and Second-year
Closings, collectively as “Closings”, as the context may require). 

  

	3.2	 Allocation and Adjustment of the Reward Shares in Each Closing. 

 

	 	(a)	 The Company and the Subscriber mutually agree that, subject to the adjustments as set forth in subsection
3.2(b) below, the total Reward Shares for the First Fiscal Year and the Second Fiscal Year, respectively, shall be divided into four (4) equal installments, i.e., each ten percent (10%) of the total Reward Shares to be sold and issued at the
end of each quarter of the First Fiscal Year and each fifteen percent (15%) of the total Reward Shares to be sold and issued at the end of each quarter of the Second Fiscal Year (each, an “Original Quarterly Quota”).

  

	 	(b)	 The Company and the Subscriber further agree that, 

 

	 	(i)	 if the Operator fails to reach the Projection for any quarter(s) of the Operation Term (each, an
“Underperformed Quarter”), then the number of the Reward Shares to be issued for such Underperformed Quarter shall be reduced to a number equal to the product obtained by multiplying (i) the Original Quarterly Quota for such
Underperformed Quarter by (ii) a fraction the numerator of which is the Post-VAT EBITDA that has been reached during such Underperformed Quarter and the denominator of which is the Post-VAT EBITDA Projection for such Underperformed Quarter; 

  

	 	(ii)	 if the Post-VAT EBITDA that has been reached during the period from the
first day of the First Fiscal Year or the Second Fiscal Year (as applicable) to the last day of such Underperformed Quarter(s) (such period, the “Assessment Period”) is no less than the cumulative
Post-VAT EBITDA Projection for such Assessment Period, then the quarterly Post-VAT EBITDA Projection for each such Underperformed Quarter within the Assessment Period
shall be deemed as reached, and in which case, the Subscriber shall be entitled to such number of Reward Shares that equal to the product obtained by (x) the aggregate Original Quarterly Quotas for the Assessment Period minus (y) the
number of Reward Shares that has been issued to the Subscriber as of the end of such Assessment Period; and 

  
 4 

	 	(iii)	 at the end of each of the First Fiscal Year and the Second Fiscal Year, the Parties shall review the number of
Reward Shares that has been issued to the Subscriber during such fiscal year (“Issued Number”) and the number of Reward Shares to which the Subscriber is entitled for such fiscal year (“Entitled Number”). For purpose of
this Section 3.2, the “Entitled Number” shall be equal to the product obtained by multiplying (x) the total number of Reward Shares for the First Fiscal Year (or the Second Fiscal Year, as applicable) by (y) a
fraction, the numerator of which shall be the Post-VAT EBITDA that has been reached during the First Fiscal Year (or the Second Fiscal Year, as applicable) and the denominator of which shall be the Post-VAT EBITDA Projection for the First Fiscal Year (or the Second Fiscal Year, as applicable). If the difference between the Issued Number and the Entitled Number (the “Difference”) is greater
than zero, then the Company shall have the right to redeem from the Subscriber such number of Reward Shares that equal to the Difference at a per share price equal to the Purchase Price Per Share. If the Difference is less than zero, then the
Company shall issue and sell an additional number of Reward Shares that equal to the Difference within ten (10) Business Days after the Initial Release Date (as defined below). 

 

	 	(c)	 Notwithstanding the foregoing, in the event that the Operator and/or its Affliate(s) under the OSA has paid the
“Cash Difference (现金差额) ” (as defined in the OSA) with respect to any quarterly Post-VAT EBITDA Projection for any Underperformed Quarter pursuant to the OSA, then
the quarterly Post-VAT EBITDA Projection for such Underperformed Quarter shall be deemed as reached. 

  

	3.3	 Deliveries by the Company at each Closing. At each Closing, the Company shall deliver (or cause to be
delivered) to the Subscriber: 

  

	 	(i)	 a copy of the share certificate in the name of the Subscriber representing the proportion of Reward Shares or
the Additional Shares issuable at such Closing, with the original duly executed share certificate delivered to the Subscriber within ten (10) Business Days after such Closing; and 

 

	 	(ii)	 a copy of the updated register of members of the Company, certified by the registered office provider of the
Company, reflecting the issuance to the Subscriber of the proportion of Reward Shares or the Additional Shares issuable at such Closing. 

  

	4.	 Conditions of the Company’s Obligations at the Closings. 

 

	4.1	 The obligations of the Company to consummate the First-year Closing are subject to the fulfillment or waive by
the Company in writing of each of the following conditions: 

  

	 	(a)	 The representations and warranties set forth in Section 5 shall be true and correct as of each
First-year Closing; 

  
 5 

	 	(b)	 The Subscriber shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by it at or before each First-year Closing; 

  

	 	(c)	 The OSA and all of its Ancillary Document shall have been duly executed and delivered by all parties thereto;
and 

  

	 	(d)	 At least 50% of the Pre-tax Rental Income Projection and at least 50%
of the Pre-tax Other Income Projection, in each case as specified in the quarterly Post-VAT EBITDA Projection for the respective quarter of the First Fiscal Year shall
have been reached or deemed to be reached after the payment by the Operator or its Affliates(s) of the “Cash Difference (现金差额) ” (as defined in the OSA) in accordance with the OSA. 

 

	4.2	 The obligations of the Company to consummate the Second-year Closings are subject to the fulfillment or waive
by the Company in writing of each of the following conditions: 

  

	 	(a)	 All conditions for First-year Closings as set forth in Section 4.1(i) are fulfilled or waived by
the Company; 

  

	 	(b)	 The representations and warranties set forth in Section 5 shall be true and correct as of each
Second-year Closing; 

  

	 	(c)	 The Subscriber shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by it at or before each Second-year Closing; and 

  

	 	(d)	 At least 50% of the Pre-tax Rental Income Projection and at least 50%
of the Pre-tax Other Income Projection, in each case as specified in the quarterly Post-VAT EBITDA Projection for the respective quarter of the Second Fiscal Year shall
have been reached. 

  

	4.3	 The obligations of the Company to consummate the Additional Shares Closing are subject to the fulfillment or
waive by the Company in writing of each of the following conditions: 

  

	 	(a)	 The representations and warranties set forth in Section 5 shall be true and correct as of the
Additional Shares Closing; 

  

	 	(b)	 The Subscriber shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by it at or before Additional Shares Closing; and 

  

	 	(c)	 The Operator has agreed and undertakes to advance Rental Loan Principal on behalf of the Asset Owner in
accordance with the OSA and the payment schedules as agreed by the Assets Sellers, the Asset Owner and relevant creditors. 

  
 6 

	5.	 Representations and Warranties of the Company. The Company hereby represents and warrants to the
Subscriber that the following statements will be true and correct as of each Closing:  

  

	5.1	 Incorporation, Good Standing and Qualification. The Company is duly incorporated, validly
existing and in good standing under the Laws of the Cayman Islands and has all requisite power and authority to perform its obligations under this Agreement. The Company is not in, nor is it anticipated to enter into, liquidation, dissolution,
bankruptcy, insolvency or winding-up. 

  

	5.2	 Due Authorization. This Agreement has been duly executed and delivered by the Company and, when executed
and delivered, constitutes valid and legally binding obligations of the Company, enforceable against the Company in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other
Laws of general application affecting enforcement of creditors’ rights generally, and (ii) as limited by Laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. 

 

	5.3	 Valid Issuance. The Reward Shares and the Additional Shares will be duly and validly issued, fully paid
and non-assessable, free of any Liens. 

  

	5.4	 No Violation. Neither the execution nor delivery of this Agreement nor the full performance by the
Company of its obligations hereunder will violate any applicable Law to which the Company is subject or any Constitutional Documents of the Company. 

  

	6.	 Representations and Warranties of the Subscriber. The Subscriber hereby represents and warrants with
respect to itself to the Company that: 

  

	6.1	 Organization; Good Standing and Qualification. The Subscriber is duly organized, validly existing and in
good standing under the Laws of the place of its incorporation or establishment (to the extent the concept of good standing is applicable in such place). The Subscriber is not in, nor is it anticipated to enter into, liquidation, dissolution,
bankruptcy, insolvency or winding-up. 

  

	6.2	 Due Authorization. The Subscriber has the requisite power, authority and capacity to enter into this
Agreement and to perform its obligations hereunder. The execution, delivery and performance by the Subscriber of this Agreement have been duly authorized by all necessary corporate or other action on the part of the Subscriber. This Agreement
constitutes valid and legally binding obligations of the Subscriber, enforceable against the Subscriber in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other Laws of
general application affecting enforcement of creditors’ rights generally, and (ii) as limited by Laws relating to the availability of specific performance, injunctive relief, or other equitable remedies 

  
 7 

	6.3	 Consents and Approvals. No Approval is required to be obtained or made by or with respect to the
Subscriber in connection with the execution, delivery or performance of this Agreement, or the consummation of the transactions contemplated hereby, by the Subscriber. 

 

	6.4	 No Violation. Neither the execution nor delivery of this Agreement nor the full performance by the
Subscriber of its obligations hereunder violates any applicable Law to which the Subscriber is subject or any Constitutional Document of the Subscriber. 

  

	6.5	 US Securities Laws. (a) The Subscriber is purchasing the Reward Shares and/or the Additional
Shares for investment for its own account, not as a nominee or agent, and not with a view to, or for sale in connection with, any distribution within the meaning of the Securities Act. The Subscriber exercises sole investment discretion with full
power to make the acknowledgements, representations and agreements contained herein. The Subscriber (either alone or together with its advisors) has sufficient knowledge and experience in financial and business matters so as to be capable of
evaluating the merits and risks of its investment in the Reward Shares and/or the Additional Shares. The Subscriber has the ability to bear the economic risk of its investment in the Reward Shares and/or the Additional Shares, has adequate means of
providing for its current and contingent needs, has no need for liquidity with respect to its investment in the Reward Shares and/or the Additional Shares, and is able to sustain a substantial or complete loss of its investment in the Reward Shares
and/or the Additional Shares. 

  

	6.6	 Listed Shares. The Subscriber acknowledges that the Company’s shares are listed on The
NASDAQ Stock Market and the Company is therefore required to publish and make available publicly the Company SEC Documents which are necessary to enable the holders of the shares of the Company and the public to appraise the position of the Company
and its Subsidiaries. The Subscriber understands that no disclosure or offering document has been prepared in connection with the sale of the Reward Shares and/or the Additional Shares. The Subscriber will not hold the Company, or any of their
respective affiliates responsible for any misstatements in or omissions from any publicly available information concerning the Company including any Company SEC Documents. 

 

	6.7	 Due Diligence. The Subscriber acknowledges and agrees that it has (a) conducted its own
investigation with respect to the Reward Shares and/or the Additional Shares and the Company; (b) has had the opportunity to ask questions of and to receive answers from the Company and its Subsidiaries; (c) has had the opportunity to
review all publicly available records and filings and all other documents concerning the Company and/or the Subsidiaries that it considers necessary or appropriate in connection with the purchase of the Reward Shares and/or the Additional Shares;
(d) has received all information that it believes is necessary or appropriate in connection with its purchase of the Reward Shares and/or the Additional Shares; and (e) has consulted its own independent advisors or otherwise satisfied
itself concerning, without limitation, the tax, legal, currency and other economic considerations related to the investment in the Reward Shares and/or the Additional Shares, and has only relied on the advice of, or has only consulted with, such
independent advisers. 

  
 8 

	7.	 Covenants 

  

	7.1	 Covenants by the Subscriber 

 

	 	(a)	 The Subscriber hereby understands, acknowledges and covenants that, as of the date of this Agreement and each
Closing, no action has been taken to permit an offering of the Reward Shares and/or the Additional Shares in any jurisdiction and the Subscriber will not offer or sell any of the Reward Shares and/or the Additional Shares in any jurisdiction or in
any circumstances in which such offer or sale is not authorized or to any person to whom it is unlawful to make such offer, sale or invitation except under circumstances that will result in compliance with any applicable laws and/or regulations; in
particular, the Subscriber understands that the Reward Shares and/or the Additional Shares, when issued, are not being registered under the Securities Act, are being offered and sold in a transaction that does not involve any public offering in the
United States within the meaning of the Securities Act and is exempt from the registration requirements of the Securities Act and are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act.

  

	 	(b)	 Lock-up Period. 

The Subscriber agrees and covenants that, it shall not Dispose of the Reward Shares and the Additional Shares until the expiration of the lock-up period (“Lock-up Period”) as set forth below: 
  

	 	(i)	 for 30% of Reward Shares issued in each fiscal year, the Lock-up Period
shall expire on the day when Post-VAT EBITDA of such fiscal year is mutually confirmed and agreed by the Assets Owner and the Operator (“Initial Release Date”); 

 

	 	(ii)	 for up to 60% of Reward Shares in each fiscal year, the Lock-up Period
shall expire on first (1st) anniversary of the Initial Release Date; 

  

	 	(iii)	 for the remaining 40% of Reward Shares in each fiscal year, the Lock-up
Period shall expire on second (2nd) anniversary of the Initial Release Date; and 

  

	 	(iv)	 for the Additional Shares, the Lock-up Period shall expire on the last
day of the first six (6) months of the Operation Term. 

  
 9 

	 	(c)	 Put Right with respect to the Additional Shares. The Company and the Subscriber hereby mutually agree
that, upon expiration of the Lock-up Period for the Additional Shares, the Subscriber shall have the right to request the Company to redeem any or all part of the Additional Shares (“Subscriber’s
Put Right”). Such redemption shall be made on the following terms and conditions: 

  

	 	(i)	 The redemption price per share at which the Additional Shares are to be redeemed by the Company shall be equal
to the sum of (i) the Purchase Price Per Share, and (ii) the product obtained by dividing (x) the Rental Loan Principal by (y) the aggregate number of Addition Shares. 

 

	 	(ii)	 The Subscriber shall, if exercising the put right created hereby, deliver to the Company within twenty
(20) Business Days after the last day of the Lock-up Period for the Additional Shares (“Exercising Period”), a notice describing the number of Additional Shares requested to be redeemed
(“Redemption Notice”). 

  

	 	(iii)	 The Company shall, promptly upon receipt of the Redemption Notice from the Subscriber, pay to the Subscriber
the aggregate redemption price for the Additional Shares requested to be redeemed in cash or by other means acceptable to the Subscriber. 

  

	 	(iv)	 Upon receipt of full payment of the aggregate redemption price from the Company, the Subscriber shall surrender
to the Company the certificate or certificates representing the Additional Shares so redeemed. 

  

	 	(v)	 For the avoidance of doubt, the Rental Loan Principal owed by the Assets Owner to the Operator shall be deemed
as fully repaid at the earlier of: (i) the Subscriber elects not to exercise its Subscriber’s Put Right in writing or fails to deliver the Redemption Notice within the Exercising Period, or (ii) the completion of the redemption under
this subsection 7.1(c). 

  

	 	(vi)	 In the event that the Subscriber agrees to accept all or any part of the Additional Shares as repayment of the
Rental Loan Principal and any other amount advanced by the Operator on behalf of the Assets Owner (collectively, the “Advanced Amount”), but the then fair market value of the Additional Shares is less than the Advanced Amount, then
the Company shall issue and allot to the Subscriber an additional number of Class A Ordinary Shares (“Supplementary Shares”) that shall be calculated in accordance with the formula below at nil price: 

Number of Supplementary Shares = (OA – NP*OS)/NP, where 

“OA” means the amount of Advanced Amount that has not been repaid by the Assets Owner immediately prior to the issuance of
Supplementary Shares; 

  
 10 

 “NP” means the product obtained by dividing the lowest closing price of ADS of 30
days immediately prior to the issuance of Supplementary Shares by 30; 
 “OS” means the number of Additional Shares held by the
Subscriber immediately prior to the issuance of Supplementary Shares. 
  

	7.2	 Registration Rights. The Company covenants and agrees as follows: 

 

	 	(a)	 Right to Piggyback. At any time after the expiration of the Lock-up
Period, if the Company proposes to register any of its common equity securities under the Securities Act (other than a registration statement on Form S-8 or a related or successor form relating solely to an
employee benefit plan or a registration on Form S-4 or a related or successor form relating solely to a transaction under SEC Rule 145), whether for its own account or for the account of one or more
stockholders of the Company, and the registration form to be used may be used for any registration of Released Registrable Shares (a “Piggyback Registration”), the Company shall give prompt written notice (in any event within 10
days after its receipt of notice of any exercise of other demand registration rights) to the Subscriber of its intention to effect such a registration and shall include in such registration all Released Registrable Shares with respect to which the
Company has received written requests for inclusion therein within 15 days after the receipt of the Company’s notice, provided that, the Selling Expenses and a proportion part of the registration and filing fees, printing expenses (if
required), fees of counsel and independent public accountants incurred by the Company in complying with the Piggyback Registration provided hereunder shall be borne by the Subscriber. “Registrable Shares” means all the Class A
Ordinary Shares beneficially owned by the Subscriber or any of its Affiliates from time to time (including, without limitation, any and all Class A Ordinary Shares issued as (or issuable upon the conversion or exercise of any warrant, right or
other security which is issued as) a dividend or other distribution with respect to, or in exchange for, or in replacement of, such Class A Ordinary Shares); provided, however, that Registrable Shares shall not include any securities that are
or became tradeable without restriction as to volume pursuant to Securities Act Rule 144 or that are sold by a Person either pursuant to a Registration Statement or Rule 144. 

 

	 	(b)	 Form S-3 or Form F-3
Registration. The Company shall use its best efforts to qualify for registration on Form S-3 or Form F-3 or any comparable or successor form promptly and to maintain
such qualification thereafter. If the Company is qualified to use Form S-3 or Form F-3, the Subscriber shall have a right to request in writing that the Company effect a
registration on either Form S-3 or Form F-3 and any related qualification or compliance with respect to all or a part of the Released Registrable Shares owned by such
Subscriber. 

  
 11 

	 	(c)	 The Subscriber may deliver a written request to the Company, stating the number of Released Registrable Shares
requested to be registered, within thirty (30) days prior to the expiration of each Lock-up Period and at any time thereafter. Whenever required to effect the registration of any Released Registrable
Shares under this Section 7.2, the Company shall, as expeditiously as possible, take all commercially reasonable efforts and actions to effect the registration of such Released Registrable Shares, including but without limitation,
(i) prepare and file with the SEC a registration statement with respect to such Released Registrable Shares and use its best efforts to cause such registration statement to become effective upon expiration of the respective Lock-up Period, and keep any such registration statement effective until the Subscriber have completed the distribution described in the registration statement relating thereto; (ii) prepare and file with the
SEC such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all
Released Registrable Shares covered by such registration statement; (iii) take such further actions to cause all such Released Registrable Shares covered by such registration statement to be listed listed on a national securities exchange or
trading system and each securities exchange and trading system (if any) on which similar securities issued by the Company are then listed; and (iv) promptly notify the Subscriber of the progresses of such registration. 

 

	 	(d)	 Rule 144 Reporting. With a view to making available to the Subscriber the benefits of certain rules and
regulations of the SEC which may permit the sale of the Released Registrable Shares to the public without registration, the Company agrees to: 

  

	 	(i)	 make and keep public information available, as those terms are understood and defined in Rule 144 or any
similar or analogous rule promulgated under the Securities Act; 

  

	 	(ii)	 file with the SEC, in a timely manner, all reports and other documents required of the Company under the
Securities Act or the Exchange Act; 

  

	 	(iii)	 take such further action as the Subscriber may reasonably request, all to the extent required to enable such
Subscriber to be eligible to sell Released Registrable Shares pursuant to Rule 144 (or any similar rule then in effect). 

  

	 	(e)	 Notwithstanding the foregoing, upon expiration of the applicable
Lock-up Period, at the election and request of the Subscriber, the Company shall provide all necessary cooperation and assistance so as to convert the Released Registrable Reward Shares into ADS of the Company
as expeditiously as possible. 

  
 12 

	 	(f)	 All expenses (other than Selling Expenses) incurred in connection with registrations, filings, or
qualifications pursuant to Section 7.2(b), including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company, shall be borne by and paid by the Company.

  

	8.	 Confidentiality. 

 

	8.1	 Each Party acknowledges and agrees that the following are confidential (“Confidential
Information”): this Agreement, the transactions contemplated herein, information regarding this Agreement, information regarding the Company, the Subscriber and their respective Affiliates, and information, materials and documents obtained
pursuant to this Agreement, with the exception that any of the foregoing which (i) is or becomes generally available to the public other than as a result of a disclosure in violation of this Agreement or other obligation of confidentiality,
(ii) was available on a non-confidential basis prior to its disclosure pursuant to this Agreement or the transactions contemplated hereunder, or (iii) becomes available on a non-confidential basis from a Person who is not prohibited from disclosing such information by a legal, contractual or fiduciary obligation. 

 

	8.2	 No disclosure of the Confidential Information is permitted except (i) to employees and/or business, legal
or financial advisors of the Company or the Subscriber as necessary to the performance of its obligations in connection herewith and with this Agreement so long as such Persons agree to maintain the confidentiality of the Confidential Information so
disclosed, (ii) as the parties hereto may mutually agree in writing (including the language on any disclosure), (iii) to any Governmental Authority to the extent reasonably required for the purposes of the tax affairs of the party, (iv) to
the extent advised by competent legal counsel that such disclosure is required by applicable Law (including but not limited to the rules or requirements of any stock exchange) or Governmental Authority, in which case the parties hereto shall, to the
extent allowed under the circumstances, in good faith attempt to agree on the content of the disclosure, and (v) that the Company, and/or the Subscriber may be required to file with the SEC such schedules and forms as may be required under
Section 13(d) of the 1934 Act or any other applicable Law, as applicable, which may need to contain as an exhibit thereto a copy of this Agreement. The covenants set forth in this Section 8 will survive any termination of this Agreement.

  

	9.	 Termination of Agreement. 

 

	9.1	 Grounds for Termination. This Agreement may be terminated at any time prior to the earlier of
(i) the first installment of the First-year Closings, and (ii) the Additional Shares Closing: 

  

	 	(a)	 by mutual written agreement of the Company and the Subscriber; 

  
 13 

	 	(b)	 by written notice from any party hereto if there shall be any applicable Law that makes consummation of the
transactions contemplated hereby illegal or otherwise prohibited; or 

  

	 	(c)	 by a written notice from any party hereto that is not in material breach of this Agreement to the party hereto
that is in material breach of its representations, warranties or obligations under this Agreement and such breach (if capable of remedy) is not remedied within twenty (20) Business Days after its receipt of a written notice from the other party
requesting the remedy of such breach. 

  

	9.2	 Effect of Termination. If this Agreement is terminated, this Agreement shall cease to have any further
effect, except that provisions of Section 8, Section 9.2, Section 10.1 and Section 10.2 shall survive such termination. 

  

	10.	 Governing Law and Dispute Resolution. 

 

	10.1	 Governing Law. This Agreement shall be governed by and construed exclusively in accordance with the law of the
State of New York, without regard to the conflicts of law rules of such state. 

  

	10.2	 Dispute Resolution. The Parties agree to negotiate in good faith to resolve any dispute between them
regarding this Agreement. If the negotiations do not resolve the dispute to the reasonable satisfaction of all Parties within thirty (30) days after the commencement of the negotiation, such dispute shall be referred to and finally settled by
arbitration at Hong Kong International Arbitration Centre (“HKIAC”). The arbitration shall be conducted in Hong Kong and shall be administered by the HKIAC in accordance with the HKIAC Administered Arbitration Rules in force at the
time of the commencement of the arbitration. The dispute shall be referred to an arbitration tribunal consisting of three (3) arbitrators appointed in accordance with the HKIAC Administered Arbitration Rules. The decision of the tribunal shall be
final and binding on the Parties, and the prevailing Party may apply to a court of competent jurisdiction for enforcement of such award. The costs and expenses of the arbitration, including the fees of the arbitral tribunal, shall be borne and paid
by the Parties in such proportions as the arbitral tribunal shall determine. The language of the arbitration shall be English. 

  

	11.	 Miscellaneous 

 

	11.1	 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure
to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the Parties. This Agreement and the rights and obligations therein may not be assigned by any Party without the written consent of the other
Parties. 

  
 14 

	11.2	 Entire Agreement. This Agreement, including any schedules and exhibits hereto, constitutes the entire
understanding and agreement among the Parties with regard to the subjects of this Agreement. 

  

	11.3	 Amendments. Any term of this Agreement may be amended only with the written consent of the Parties.

  

	11.4	 Notice. All notices, requests, claims, demands and other communications hereunder shall be in writing
and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by an internationally recognized overnight courier service, by facsimile or registered or certified mail (postage prepaid, return
receipt requested) or by electronic mail to the respective Parties at the addresses specified on Schedule I hereto (or at such other address for a Party as shall be specified in a notice given in accordance with this
Section 11.4). Where a notice is sent by next-day or second-day courier service, service of the notice shall be deemed to be effected by properly addressing,
pre-paying and sending by next-day or second-day service through an internationally-recognized courier a letter containing the
notice, with a written confirmation of delivery, and to have been effected at the earlier of (i) delivery (or when delivery is refused) and (ii) expiration of two (2) Business Days after the letter containing the same is sent as
aforesaid. Where a notice is sent by facsimile or electronic mail, service of the notice shall be deemed to be effected by properly addressing, and sending such notice through a transmitting organization, with a written confirmation of delivery, and
to have been effected on the day the same is sent as aforesaid, if such day is a Business Day and if sent during normal business hours of the recipient, otherwise the next Business Day. 

 

	11.5	 Delays or Omissions; Waivers. Upon any breach or default of any other Party under this Agreement, no
delay or omission to exercise any right, power or remedy accruing to any Party shall impair any such right, power or remedy of such Party nor shall it or any waiver of any other breach or default theretofore or thereafter occurring be construed to
be a waiver of any such breach or default, or an acquiescence therein, or of any similar breach or default thereafter occurring. Any waiver by any Party of any condition or breach or default under this Agreement must be in writing and shall be
effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by Laws or otherwise afforded to any Party, shall be cumulative and not alternative. 

 

	11.6	 Severability. If any provision of this Agreement is found to be invalid or unenforceable, then such
provision shall be construed, to the extent feasible, so as to render the provision enforceable and to provide for the consummation of the transactions contemplated hereby on substantially the same terms as originally set forth herein, and if no
feasible interpretation would save such provision, it shall be severed from the remainder of this Agreement, which shall remain in full force and effect unless the severed provision is essential to the rights or benefits intended by the Parties. In
such event, the Parties shall use reasonable best efforts to negotiate, in good faith, a substitute, valid and enforceable provision or agreement which most nearly effects the Parties’ intent in entering into this Agreement.

  
 15 

	11.7	 Interpretation; Titles and Subtitles. This Agreement shall be construed according to its fair language.
The rule of construction to the effect that ambiguities are to be resolved against the drafting Party shall not be employed in interpreting this Agreement. The titles of the sections and subsections of this Agreement are for convenience of reference
only and are not to be considered in construing this Agreement. Unless otherwise expressly provided herein, all references to sections, schedules and exhibits herein are to sections, schedules and exhibits of or to this Agreement.

  

	11.8	 Counterparts; Effectiveness. This Agreement may be executed in any number of counterparts, each of which
shall be an original, but all of which together shall constitute one instrument. This Agreement shall become effective when each Party shall have signed a counterpart. 

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 16 

 IN WITNESS WHEREOF, the Parties have caused their respective duly authorized representatives
to execute this Agreement on the date first above written. 
  

			
	Q&K International Group Limited
		
	By:	 	/s/ Chengcai Qu
	Name:	 	
	Title:	 	Director
	[Chop:Q&K International Group Limited]

 IN WITNESS WHEREOF, the Parties have caused their respective duly authorized representatives
to execute this Agreement on the date first above written. 
  

			
	Beautiful House Limited
		
	By:	 	

	Name:	 	Han Guang 

	Title:	 	Authorized Signator

 EXHIBIT A DEFINITIONS 

“ADS” means American depositary shares, each representing thirty (30) Class A Ordinary Shares. 

“Affiliate” means, with respect to any Person, any other Person directly or indirectly Controlling, Controlled by, or under common Control
with such Person; provided that neither the Company nor any Subsidiary shall be considered an Affiliate of the Subscriber. 
 “Ancillary
Documents” means all corporate actions on the part of each Assets Seller necessary for the authorization, execution and delivery of the OSA, including the shareholders’ and/or board resolution of such Assets Seller. 

“Apartment Rental Agreements” means the apartment rental agreements of Target Units between the Assets Sellers and their tenants. 

“Approval” means any approval, authorization, release, order, consent, license or permit required to be obtained from, or any registration,
qualification, designation, declaration, filing, notice, statement or other communication required to be filed with or delivered to, any Governmental Authority or any other Person. 

“APA Closing Date” has the meaning as ascribed to it in the APA, i.e. June 30, 2020. 

“Asset Closing Liabilities” means all liabilities arising out of Target Assets as of APA Closing Date, including but not limited to pre-paid rent and unpaid due rent under Original Leases, pre-paid rent under Apartment Rental Agreements, rental deposit under Original Leases and Apartment Rental Agreements,
rental loan of current rental clients, liquidated damages, late fee, etc. 
 “Articles” means the Third Amended and Restated Memorandum and
Articles of Association of the Company, as adopted on September 30, 2019 and as in full force and effect immediately upon the closing of the Offering on November 7, 2019. 

“Business Day” means any day that is not a Saturday, Sunday, legal holiday or other day on which commercial banks are required or authorized
by Applicable Laws to be closed in the PRC, the United States, Hong Kong, the British Virgin Islands or the Cayman Islands. 
 “Constitutional
Document” means, with respect to a particular legal entity, the articles of incorporation, certificate of incorporation, formation or registration (including, if applicable, certificates of change of name), memorandum of association,
articles of association, bylaws, articles of organization, limited liability company agreement, trust deed, trust instrument, operating agreement, joint venture agreement, business license, or similar or other constitutive, governing, or charter
documents, or equivalent documents, of such entity. 
 “Class A Ordinary Shares” means the class a ordinary shares, par value
US$0.00001 per share, of the Company, with the rights and privileges as set forth in the Articles. 

 “Control” of a given Person means the power or authority, whether exercised or not, to
direct the business, management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; provided, that such power or authority shall conclusively be presumed to exist upon
possession of beneficial ownership or power to direct the vote of more than fifty percent (50%) of the votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control the composition of a majority of the
board of directors or equivalent governing body of such Person. The terms “Controlled” and “Controlling” have meanings correlative to the foregoing. 

“Dispose of” with respect to the Reward Shares, means lend, offer, pledge, hypothecate, hedge, sell, make any short sale of, loan, contract
to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Reward Share which it acquired by virtue of
the Reward Shares or (b) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the equity securities of the Company, whether any such transaction described in
clause (a) or (b) above is to be settled by delivery of the Reward Shares or such other securities, in cash or otherwise. 
 “Governmental
Authorities” means any nation, government, province, state, or any entity, authority or body exercising executive, legislative, judicial, regulatory, foreign exchange or administrative functions of or pertaining to government, including any
government authority, agency, department, board, commission or instrumentality of any government or any political subdivision thereof, court, tribunal, arbitrator, the governing body of any securities exchange, and self-regulatory organization, in
each case having competent jurisdiction (with each of such Governmental Authorities being referred to as a “Governmental Authority”). 

“Hong Kong” means the Hong Kong Special Administrative Region of the People’s Republic of China. 

“Law” means any law, rule, constitution, code, ordinance, statute, treaty, decree, regulation, common law, order, official policy, circular,
provision, administrative order, interpretation, injunction, judgment, ruling, assessment, writ or other legislative measure, in each case of any Governmental Authority. 

“Lien” means: 
  

	(a)	 any mortgage, charge, lien, pledge or other encumbrance securing any obligation of any Person;

  

	(b)	 any option, right to acquire, right of pre-emption, right of set-off or other arrangement under which money or claims to, or for the benefit of, any Person may be applied or set off so as to effect discharge of any sum owed or payable to any Person; or 

	(c)	 any equity, assignment, hypothecation, title retention, claim, restriction, power of sale or other type of
preferential arrangement the effect of which is to give a creditor in respect of indebtedness a preferential position in relation to any asset of a Person on any insolvency proceeding of that Person. 

“Original Leases” means the original leases of Target Units between the Assets Sellers and Target Units’ original lessor. 

“Person” means any individual, corporation, partnership, limited partnership, proprietorship, association, limited liability company,
firm, trust, estate or other enterprise or entity. 
 “PRC” means the People’s Republic of China and for purposes of this Agreement,
excludes Hong Kong, Macao Special Administrative Region and Taiwan. 
 “SEC” means the Securities and Exchange Commission. 

“Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

“Selling Expenses” means all underwriting discounts, selling commissions, and stock transfer taxes applicable to the sale of Registrable
Reward Shares, and fees and disbursements of counsel for the Subscriber. 
 “Subsidiary” means, with respect to any given Person, any other
Person that is Controlled directly or indirectly by such given Person. 

 SCHEDULE I NOTICES

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