Document:

EX-10.15

 Exhibit 10.15 

Plant Lease Contract 
 Lessor: Meikolong
(Shanghai) Shop Equipment Industry Co., Ltd. 
 Lessee 1: SES (Shanghai) Co., Ltd. 

Lessee 2: Shanghai Jiading Industrial Zone Management Committee 

August 2018 
 [seal: special seal for contract of
Meikolong (Shanghai) Shop Equipment Industry Co., Ltd.] 
 [seal: SES (Shanghai) Co., Ltd.] 

[seal: Shanghai Jiading Industrial Zone Management Committee] 

[cross-page seal: SES (Shanghai) Co., Ltd.] 
 [cross-page seal:
Meikolong (Shanghai) illegible] 

 [hw:] Q18-208 

Plant Lease Contract 
 This Plant Lease Contract
was jointly signed in Jiading District, Shanghai, China on August 28, 2018 by: 
 Lessor (“Party A”): Meikolong
(Shanghai) Shop Equipment Industry Co., Ltd. 
 Lessee 1 (“Party B”): SES (Shanghai) Co., Ltd. 

Lessee 2 (“Party C”): Shanghai Jiading Industrial Zone Management Committee 

In this Contract, Party A, Party B and Party C are collectively referred to as the “Parties” and individually as a “Party”, while Party B
and Party C are collectively referred to as the “Lessees”. 
 Whereas, Party B is a company related to new energy vehicles and automobile
intelligence industry, one of the four key industries in Jiading District, which is in line with the industrial development orientation of Jiading District. The arrival of Party B will promote the development of the related industries in Jiading
Industrial Zone, enhance the industrial level of Jiading Industrial Zone, and play a demonstration and driving role in the development of China’s new energy battery industry. Party B is willing to rent the plant of Party A located at
No. 1688, Yecheng Road, Jiading District, Shanghai (the “Target Plant “), and Party C is willing to share the rent and provide other supporting services for Party B as a co-lessee. Therefore,
this Contract is entered into by and among the parties through mutual agreement on the lease of the Target Plant. 
  

	1.	 Plant lease 

  

	1.1	 Location of Target Plant 

The Target Plant is located in the north of No. 1688, Yecheng Road, Jiading District, Shanghai. 

  
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 1.2 Description of Target Plant 

1.2.1 The plant that Party B, the actual user, intends to lease is on the first floor of the south half of Plant No.1 owned by Party A, which has a gross floor
area of 12,155.99 square meters and is located in the north of No. 1688, Yecheng Road, Jiading District, Shanghai. (The real estate ownership certificate of the Plant No.1 is “Hu Fang Di Jia Zi (2008) No. 027417”.
Please refer to Appendix 1 of this Contract for the real estate ownership certificate). According to the record of the real estate ownership certificate, the area of Plant No.1 is 12,155.99 square meters. The area leased by Party B is the first
floor of the south half of Plant No.1 (the second floor near the south is not in the construction plan, and it is built by Party A for its own use), which is half of the whole plant, or 6,078 square meters. The basic information about the location
of the plant leased by Party B is as follows: 
 The leasing area covered by the Target Plant shall reach the middle column of the large plant building in
the north. The entire south door of the workshop should be used as an emergency exit only. The entrance and exit of the leased area is No. 1699 Fuhai Road (shared with Shanghai Jiading International Freight Company). The main road of the plant
is a public channel. Party B shall ensure that the main road is safe and smooth, and shall not occupy or pile up items on the road and affect the use of others. Party A agrees that Party B may open another gate on Zhaoxian Road in the east, provided
that Party B shall bear the specific application and approval procedures and construction costs, and Party A shall provide materials required by Party B. After the application for opening the gate is approved by the traffic authorities, Party A
shall be responsible for clearing the goods and debris accumulated at the exit and entrance of Zhaoxian Road at the site and removing the corresponding barriers (excluding the drainage pump) for Party B’s construction, and Party C shall
cooperate with Party B to complete the gate opening within the scope of planning permission (In addition, Party A agrees that after Party B completes the new gate opening, the two small doors around the southeast gate of the plant shall be closed,
and Party B shall open another passage for the forklift truck in the south of the plant and in the west of the east elevator shaft for Party A). There is an embedded oil tank reserved by Party A for its own use on the north side of the southeast
gate of the plant. Party B shall cooperate with Party A in the safety protection management of the area, and any open flame is strictly prohibited. Considering the Target Plant and the actual use area around it, the Parties agree that the leased
area is 6,000 square meters. The area plan of the Target Plant is detailed in Appendix 2. 

  
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 1.2.2 Party A, as the sole owner of or the person with the right to lease the Target Plant, shall establish
the lease relationship with Party B and Party C, and deliver sealed copies of written materials such as the certificate of title and power of attorney to Party B and Party C when signing this Contract, which shall be kept by Party B and Party C upon
verification with the originals of Party A. 
 1.2.3 Party A shall ensure that Party B and Party C have exclusive right of use during the lease term, and
that no third party will exercise or claim to exercise the right of possession, right of lease, right of use and all other rights affecting Party B’s lease and use of the Target Plant. 

1.3 Lease purpose 
 1.3.1 Party B undertakes to use the
Target Plant as the production and office premise of Party B. Party B or the project company invested by Party B shall obtain the business license and pass the environmental impact assessment for the Target Plant in accordance with the law, and
ensure that the production and business activities are legal and in compliance with the environmental protection, fire protection and safety standards of Shanghai. When Party B applies for the relevant certificates, licenses or handle the account
opening procedures, Party A shall actively provide assistance, including but not limited to providing relevant certification materials for Party B. 
 1.3.2
Without the prior written consent of Party A, Party B shall not change the lease purpose, or use the Target Plant for other activities beyond the business scope registered in its business license. If certain business is not within the business scope
of Party B when it is conducted, but Party B promptly changes its business scope and is not punished by the authorities, Party B shall not be deemed to have breached this provision. 

  
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 1.3.3 Without the prior written consent of Party A, Party B and Party C shall not sublet or sublease part or
all of the Target Plant, and shall not assign the rights and obligations under this Contract to any third party or exchange the Target Plant with the plant leased by others. 

1.3.4 If Party B and Party C’s violation of Article 1.3 hereof results in punishment by relevant authorities or damage to the legitimate rights and
interests of others, Party B and Party C shall bear the corresponding liabilities. If Party A suffers any loss as a result, Party A shall have the right to claim compensation from Party B and Party C and get indemnified with the deposit. 

2. Structure, facilities and decoration of the plant 

2.1 Structure of Target Plant 
 The structure and basic
condition of the Target Plant are shown in Appendix 2, Floor Plan and Condition Sheet of the Plant. 
 2.2 Facilities of Target Plant 

2.2.1 The Target Plant is equipped with corresponding auxiliary facilities, including: 

(1) tap water joint 
 (2)
drainpipe joint 
 (3) Fire pipes and fire hydrants around the plant 

(4) Public toilet 
 2.2.2 Party B shall be
responsible for the connection between the Target Plant and the above public facilities and supporting infrastructure facilities and the access of the relevant services at the expenses of Party B, while the operation related to the power expansion
shall be carried out according to Article 2.3.6. 

  
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 2.2.3 Party B shall pay the water and electricity charges for the use of the plant, public facilities and
supporting infrastructure facilities. (The water and electricity charges shall be collected by Party A from Party B and paid on its behalf according to the reading of the meter installed in Party B’s use area.) 

2.2.4 Party A shall repair the roof of the Target Plant before delivery. The repair standard is to repair the holes in the roof with the original thermal
insulation cotton (filling the roof with thermal insulation cotton from bottom to top and fixing it with steel wire), and lay Baosteel 0.6 hot zinc color steel belt. Party A shall conduct a rainstorm test for leakage at the time of delivery. 

2.3 Decoration 
 2.3.1 The lessees shall be responsible
for the internal decoration of the plant. If necessary for the production, the lessees can change and divide the plant without affecting the safety of the structure. The lessees shall first submit a written internal modification plan to Party A. The
interior decoration and modification plan shall meet the requirements of safety, fire protection, environmental protection, sanitation and epidemic prevention and shall be implemented only with the written consent of Party A. 

2.3.2 The lessees shall comply with the laws and regulations of the State and Shanghai concerning construction, fire prevention, environmental protection,
health and epidemic prevention when carrying out the alteration, separation and decoration works. The production and domestic sewage of Party B shall be discharged into the sewage pipe and is strictly prohibited to be discharged into the rainwater
pipe. Under any circumstance, if the lessees’ decoration and modification do not meet the requirements of fire protection and environmental protection or the relevant authorities impose rectification requirements, the lessees shall make
rectification according to the requirements until the acceptance conditions of fire protection and environmental protection are met. Otherwise, Party A has the right to terminate the contract with the lessees without any liability. If the relevant
authorities impose penalties on Party A because the lessees’ decoration, alteration or transformation results in hidden safety hazards of the plant or violation of laws and regulations, Party A shall have the right to request the lessees to
compensate for the actual losses suffered by Party A. 

  
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 2.3.3 The expenses for alteration, separation, decoration and rectification shall be solely borne by the
lessees, who shall also bear all the expenses and legal liabilities arising from the application for approval by the competent government department. During the lease term, the lessees shall bear all the responsibilities and expenses arising from
any rectification required by the government for the decoration of the premises. If the lessees change the decoration of the plant during the lease term, they shall restore it to original condition when the plant is returned (except for the parts
that Party A has agreed to retain in writing or the parts that have been approved by Party A during decoration and cannot be restored) . If the lessees need to open doors and windows on the plant facade, it can only be implemented with written
consent of Party A. 
 2.3.4 Before the decoration, the lessees and the decoration service provider hired by the lessees shall sign the decoration
management agreement with Party A and pay the decoration management deposit, which is RMB 50,000, to prevent the damage to Party A’s facilities and environment caused by the lessees and the decoration service provider hired by the
lessees incidentally during the decoration process. If the lessees or the decoration service provider hired by the lessees damages Party A’s facilities and environment during the decoration, Party A has the right to deduct such losses from the
decoration deposit. If the deposit for decoration is insufficient to cover Party A’s losses, the lessees responsible for decoration and decoration service provider they hire shall be liable for compensation. 

2.3.5 During the lease term, Party B shall have the right to place its company nameplate and logo on the plant and at the entrance of the plant, provided that
the placement scheme shall be subject to written consent of Party A before construction. Party B shall install and maintain such logos or advertisements at its own expense and shall purchase insurance. In case of any safety accident related to the
logos or advertisements installed or placed by Party B, Party B shall bear all the civil liabilities. If Party A suffers any loss due to the installation and placement of the logos or advertisements, Party A shall have the right to demand Party B to
compensate Party A for the actual loss. 

  
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 2.3.6 For the avoidance of doubt, the parties confirm that Party C shall be specifically responsible for and
bear the relevant expenses for the first decoration after delivery. Party C shall carry out simple decoration of the Target Plant according to the production and office needs of Party B. The decoration plan shall be approved by Party B in advance,
including: The east, west and south walls shall be sealed with national-standard, thermal-insulation, rock wool color steel plate, and the north wall shall be sealed with color steel plate and undergo fire protection treatment (it shall be able to
withstand fire for 3 hours). All the windows (including window frames) should be replaced with energy-saving double-layer glass windows. The floor shall adopt epoxy floor (with ground self-leveling after decoration). The plant shall be equipped with
(2000KVA) consumption power supply and 150KVA fire backup power supply (or other backup power meeting the fire protection requirements) and independent meters. With the consent of Party C, Party B may choose to construct an independent power
distribution room and bear the relevant expenses. The initial decoration shall be completed within 2 months of the delivery of the Target Plant. 

3. Delivery and acceptance 
 At the request of Party B and
Party C, Party A shall deliver the plant and the related facilities hereunder to Party B and Party C for use on September 1, 2018 (the “Delivery Date”). On the Delivery Date, the parties shall jointly handle the handover procedures,
and the lease term of the plant shall be counted from the Delivery Date. The procedural acceptance of the Target Plant by the lessees shall not release Party A from any liability for the inherent defects of the plant and the related facilities. 

4. Lease term and renewal 
 4.1 Lease term 

The lease term shall be 5 years, starting from September 1, 2018 and ending on August 31, 2023. 

  
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 4.2 Renewal 

To renew this Contract and the lease term, Party B shall give a written notice to Party A at least 90 days prior to the expiration of the lease term. If Party
A agrees to renew the lease and reaches agreement with Party B on the rent in the renewed lease term and other related matters, the parties shall sign the renewal contract. If the parties cannot reach agreement on renewal, this Contract shall be
terminated upon the expiry of the lease term. 
 5. Rent, property management fee, deposit and payment method 

5.1 Rent 
 To support the business development of Party B,
Party C, Shanghai Jiading Industrial Zone Management Committee, shall pay the rent of the Target Plant for the first two years (i.e., from September 1, 2018 to August 31, 2020). From the third year of the lease term (i.e., from
September 1, 2020), the rent of the Target Plant shall be paid by Party B. The rent for the third year shall be calculated based on the following standard: daily rent: RMB 1.697/square meter (tax exclusive), annual rent (tax exclusive): 6,000m2 X RMB1.697/day X 365 days = RMB 3,716,430. During the remaining lease period, the annual rent shall be calculated at an annual increase rate of 3% based on the third year’s rent standard.

 5.2 Property management fee 
 The property management
fee for the Target Plant during the lease term shall be borne by Party B, SES (Shanghai) Co., Ltd. The property management fee is RMB 0.16/square meter/day (tax exclusive). The total daily property management fee shall be 6,000m2 X RMB 0.16 = RMB 960. 
 The property management services shall include public greening management
in the industrial park, public road cleaning and leakage repair of the plant, etc. The property management fee shall remain unchanged during the five-year lease term. 

  
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 5.3 Deposit 

5.3.1 Party B shall pay a deposit of RMB One Million Seven Hundred and Fifty-Two Thousand only
(¥1,752,000) to Party A within 20 days after the signing of this Contract and before the delivery of the Target Plant by Party A to Party B (The deposit can be paid by the parent company of Party B to the affiliated company
of Party A in Hong Kong in US dollars. The bank and account number of the deposit are shown in Appendix 3). If Party B fails to pay the deposit in full as agreed, Party A has the right to terminate the contract or delay the delivery of the plant
to Party B without any liability. If any breach of contract by the lessees causes losses to Party A, Party A has the right to deduct the amount payable by the lessees from the lease deposit or get compensated for the losses incurred thereby. If the
deposit is insufficient to cover the actual losses of Party A, Party B shall pay the shortfall within 10 working days upon receipt of Party A’s written notice. For each overdue day, Party B shall pay liquidated damages to Party A at the rate of
0.5% of the deposit to be made up per day. 
 5.3.2 Party A shall issue a receipt to Party B after receiving the deposit. Upon the termination of the lease,
if Party B does not have any outstanding rent, property management fee, water and electricity fee, and does not have any violation such as causing damage to the premises and failing to make compensation, the deposit shall be returned to Party B in
full without interest within 10 working days after Party B returns the Target Plant and Party A accepts the plant after inspection and completes the relevant handover procedures. Party A shall assign special personnel to actively cooperate in the
acceptance and handover, and shall complete the acceptance and handover no later than 15 working days after Party B returns the Target Plant. 
 5.4
Payment method 
 5.4.1 The rent shall be paid by the principle of paying before leasing. The rent for the first two years shall be paid by Party C
annually, that is, twelve months is a rent payment period. Party C shall pay the rent for the first twelve-month period on the date of delivery, and the rent for the second year shall be paid before August 25, 2019. From the third year onwards,
the rent shall be paid by Party B semi-annually, that is, six months is a rent payment period, to Party A five days before the beginning of each rent payment period. 

  
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 5.4.2 The property management fee shall be paid on the principle of paying before using. Party B shall pay
the property management fee semi-annually, that is, six months is a payment period. The property management fee for the first six-month period shall be paid by Party B before the end of October 2018. The
subsequent property management fees shall be paid to Party A five days before the beginning of each payment period. 
 5.4.3 If the Lessee fails to pay the
rent and other amounts in accordance with sections 5.1, 5.2 and 5.3, the Lessee shall pay Party A, in addition to the actual usage fee calculated based on the rent (plant rent + plant property management fee), a penalty of 0.5% of the payment due
for each day delayed, and Party A shall have the right to deduct the penalty from the deposit. The rent and deposit that the Lessee pays to Party A under the Contract shall be settled in RMB by bank transfer. Party A’s bank account number is
shown in Annex 3. 
 5.4.4 Water and electricity charges (water charges include sewage charges) shall be paid by the principle of using before paying and be
settled monthly according to government pricing. Party B shall transfer water and electricity charges to Party A’s designated bank account monthly within five (5) working days after receiving the payment notice issued by Party A. If Party
B fails to pay the water and electricity charges in accordance with the Contract, it shall pay a penalty of 0.5% of the water and electricity charges payable per day of delay to Party A in addition to the water and electricity charges. Party A shall
have the right to deduct the penalty from the deposit. 
 5.4.5 The parties agree that the Lessee’s rent, property management fee and deposit hereunder
are exclusive of tax and that water and electricity charges are inclusive of tax (the sewage charges are exclusive of tax). In case any adjustment in national laws, regulations and rules and related tax regulation documents or any change in Party
A’s tax calculation method results in a change in the VAT rate and thus an increase in the tax payable, the rent, property management fee, water and electricity charges and other expenses that the Lessee shall pay Party A shall remain unchanged
except that the increase in the VAT and other taxes payable due to the change in the national tax rate shall be borne by the Lessee. 

  
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 5.4.6 Within 5 days after receiving the payments of rent, property management fee, water and electricity
charges and other amounts, Party A shall issue the official rent/property management fee/water and electricity charges invoice recognized by the tax authorities to Party B. 

6. Maintenance and internal hygiene of Target Plant 

6.1 Maintenance 
 6.1.1 During the lease, Party A shall
carry out daily maintenance of the plant as per the status at delivery and bear relevant expenses. Party B shall be responsible for the maintenance of the internal facilities and ancillary facilities of the plant and the changes and decoration it
carries out in accordance with section 2.3, and shall keep the plant in good condition. If the rainwater pipes and sewers of the plant are blocked due to Party B’s reasons, Party B shall be responsible for dredging. 

6.1.2 If the entire or part of the plant is damaged not due to Party B’s fault and the plant fails meet the leasing purpose as stipulated in the
Contract, Party A shall repair and restore the Target Plant to the condition that can be used by Party B within 15 working days after receiving Party B’s notice. If Party A is unable to repair within the above-mentioned period, Party B shall
have the right to repair by itself or designate others to repair provided that the repair plan shall be approved in writing by Party A in advance, and the expenses incurred thereby shall be borne by Party A. Party A shall make a clear reply of
denial or consent on the repair plan submitted by Party B within three (3) working days, and Party A shall not refuse Party B’s repair plan without just cause. Or Party B may repair by itself or designate others to repair, and the expenses
incurred thereby shall be paid by Party A in accordance with third-party contracts, related payment bills, bank payment bills, etc., or be deducted by Party B from the payables to Party A. 

  
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 6.1.3 The renovation and decoration of the plant by the Lessee shall not be subject to the section 6.1.2.

 6.1.4 If for reasons not attributable to Party A (including but not limited to weather, Party B’s fault, duration, etc.), Party A is unable to
complete the repair work within 15 working days, section 6.1.2 shall not apply. In case of special emergency maintenance items, Party A shall repair within 24 hours; otherwise, Party B has the right to repair by itself or designate others to repair,
and the expenses incurred thereby shall be borne by Party A in accordance with third-party contracts or bills or may be deducted by Party B from the payables to Party A (except water and electricity repairs in the plant and damages caused by Party
B). 
 6.2 Fire safety and hygiene of leased areas 

6.2.1 During the lease, Party B shall strictly abide by the Fire Protection Regulations of the People’s Republic of China, Shanghai Fire Protection
Regulations and other laws, regulations and rules, actively cooperate with Party A in fire protection, and shall not use firefighting facilities for other purposes. Otherwise, all resulting economic and legal liabilities shall be borne by Party B.

 6.2.2 Party B shall be fully responsible for the fire safety in the leased property in accordance with relevant regulations of the fire department. If
necessary, Party A has the right to inspect and supervise Party B’s fire protection, and Party B shall cooperate in a timely manner. 
 6.2.3 Party B
shall pay attention to safety when using the leased property. Party B shall not place flammable, explosive, toxic and other dangerous substances in the plant. If Party B fails to comply with the regulations and operates in violation of regulations,
causing an accident, the resulting damages and legal liabilities shall be solely borne or compensated for by Party B. 

  
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 6.2.4 Party B shall be responsible for the environmental sanitation, cleanliness, garbage collection and
transportation, septic tank desilting, and others inside and outside the leased areas of the plant. Party A has the right to urge and assist Party B to make every effort in fire protection, safety and hygiene, etc. 

7. Confidentiality 
 Each party shall be obliged to keep
confidential and proprietary business and technical information it obtains from the other party. During the term and after the expiration of the Contract, except for the purpose of correctly and legally exercising the rights under the Contract,
neither party shall disclose any business or technical information of the other party to any third party, or use business or technical information about the other party for any other purpose. 

8. Force majeure 
 If a party is unable to perform any of
its obligations under the Contract due to any event beyond its control, such as wars, serious fires, floods, typhoons, earthquakes or other force majeure events, the performance period of the party that is unable to perform such obligations
hereunder will be extended for the time equal to the duration of the event. The party unable to perform its obligations shall notify the other party via phone, email or fax as soon as possible after the occurrence of the force majeure event, and
shall provide the other party via registered mail with the certificate confirming the occurrence of the event issued by competent authorities. If the force majeure event continues for more than 60 days, the other party will have the right to
terminate the Contract at any time subject to a written notice given 15 working days in advance. In the event of force majeure, the parties shall work together and actively cooperate to minimize losses. 

  
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 9. Contract Termination and Cancellation 

9.1 Contract Termination 
 9.1.1 In the event that the
lease term expires and Party B does not renew the lease, this contract shall be automatically terminated. 
 9.1.2 In the event that the lease term expires
and Party B does not renew the lease, Party B shall return the factory building intact (except for normal wear and tear) to Party A on the termination date of this contract and guarantee that the factory building is in an intact and leasable state
and has been inspected and accepted by Party A. At the same time, Party B shall also complete the cancellation or change of address procedures for industry and commerce of the business license with the factory building as the registration address.
Prior to handing over the factory building, Party B shall provide Party A with a list of the decorations of the factory building to be removed as well as the furniture and equipment to be left in the factory building by Party B. Party A and Party B
shall negotiate and decide together whether to eventually remove or retain aforementioned facilities. In the event that Party B fails to hand over the factory building or complete the cancellation or change of address procedures for industry and
commerce of the business license by the aforementioned deadline, for each day overdue, Party B shall pay Party A for a usage fee for the overdue hand-over and occupation of the factory building, equivalent to twice the rent and the property
management fee at that time. At the same time, Party B shall also bear all other costs incurred during the occupation of the factory building; in the event that it causes other losses of Party A, Party B shall also bear indemnification liabilities.
Party B shall have the right to deduct the breach penalties from the security deposit paid by Party B. 
 9.1.3 In the event that Party B fails to hand over
the factory building to Party A on the lease expiration date or the early termination date of this contract or it fails to remove the decorations and facilities in the factory according to the list outlined in 9.1.2, after seven days from the lease
expiration date or the early termination date of this contract, Party A shall have the right to consider that Party B has abandoned the ownership of all moveable properties and immovable properties in the factory building, including 

  
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 decorations, furniture, and goods, and Party A shall have the right to open and replace the door locks of
the factory building, remove the items in the factory building, including but not limited to furniture, equipment, devices, and other additions, from the factory building, and empty and recover the factory building. Party A shall bear no liability
for damages incurred thereby and losses of Party B. Regarding the items left in the factory building by Party B, Party A shall have the right to collect storage fees for these items from Party B and shall have the right to sell, transfer, abandon,
or dispose of these items by any means deemed appropriate by Party A and use the proceeds from the disposal (if any) to offset any amount owed by Party B to Party A and indemnify Party A for losses incurred and to be incurred for the reasons
stipulated in this paragraph. However, under no circumstance shall Party A be obligated to pay or indemnify Party B for these items. 
 9.2 Contract
Cancellation 
 9.2.1 In the event that during the lease term either party decides to cancel the contract before the expiration of the lease term, it
shall notify the other party in writing at least 12 months in advance or pay for an amount equivalent to 12 months’ rent in lieu of the notice. In the event that Party A chooses to pay for the amount in lieu of the notice 12 months in advance
in accordance with Article 9.2.1, it shall return the security deposit and the rent collected for the period, in which Party B has not actually used the factory building. In the event that Party B chooses to pay for the amount in lieu of the notice
12 months in advance in accordance with Article 9.2.1, it may choose to use the security deposit and the rent collected for the period, in which Party B has not actually used the factory building, to offset the payment in lieu of the notice. The
cancellation as agreed in this paragraph shall not be considered to exempt Party B from its obligations to restore the factory building to its original state. 

9.2.2 In the event that Party B proposes the early cancellation of the contract for its own reasons, Party A shall bear no liability for compensating or
indemnifying Party B for any decoration value; in the event that Party B fails to perform its obligations as agreed in 9.2.1 and 9.2.2 of this contract, Party A shall have the right to use the security deposit and/or decorations of Party B to offset
the rent, payment in lieu of the notice, breach penalties, or other losses; Party A shall also have the right to place a lien on the equipment and other assets of Party B in the leased factory building. 

  
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 9.2.3 All parties have agreed that under one of the following circumstances, this contract shall be
terminated, and none of the parties shall bear any liability: 
 (1) The right to use the land occupied by the factory building is revoked
early in accordance with laws; 
 (2) The factory building is expropriated in accordance with laws due to public interest or urban
construction requirements; 
 (3) The factory building is lost or severely damaged due to no fault of either party to this contract and as a
result is rendered unusable and cannot be repaired within 90 days. 
 Under the aforementioned circumstances, Party B shall have the right to receive the
indemnifications that it should receive to add decorations, modifications, and facilities, compensations for business suspension and production suspension, and costs for relocation and resettlement; the specific amount shall be subject to the amount
determined by the demolition and relocation assessment report issued by the government and the demolition and relocation agreement or the amount negotiated and determined by all parties and the government. 

9.2.4 Under one of the following circumstances, either party shall have the right to unilaterally cancel this contract via a written notice, unless otherwise
agreed in this contract: 
 (1) One party materially breaches any provision of this contract and fails to remedy such breach within 30 days
upon receipt of the notice from the other party; 
 (2) One party enters bankruptcy, settlement, dissolution, and other similar procedures.

 9.2.5 In case of one of the following circumstances of Party B, Party A shall have the right to unilaterally cancel the contract and require Party B to
bear breach liabilities: 
 (1) Party B is 30 days overdue to pay rent or property management fees; 

(2) Party B is 30 days overdue to pay water or electricity bills; 

(3) Party B is 30 days overdue to pay the security deposit in full; 

  
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 (4) Without written approval of Party A, Party B transfers or sublease a portion or the
entirety of the lease object to a third party; 
 (5) Without written approval of Party A, Party B modifies or damages the main structure of
the factory building; 
 (6) Party B fails to use the factory building according to the purpose agreed in Article 1.3 of this contract; 

(7) Party B engages in illegal and criminal activities; 

(8) Party B is liquidated or goes bankrupt; 

(9) Party B encounters a large-scale strike, which causes actual losses to Party A. 

9.2.6 In case of one of the following circumstances of Party A, Party B shall have the right to unilaterally cancel the contract and require Party A to bear
breach liabilities: 
 (1) Party A provides false statements or conceals the truth when signing this contract or fails to truthfully disclose
potential ownership defects of the factory building to Party B, which may have impact on the signing of this contract by Party B. 
 (2)
During the lease term, the factory area is entirely seized due to reasons attributable to Party A, and Party A fails to properly resolve such issue within a reasonable period upon notice from Party B. 

(3) In the event that it fails to pass the environmental assessment conducted by the government by August 31, 2019 or even though Party B
carries out the design and construction in accordance with firefighting requirements, it still fails to pass the firefighting acceptance inspection by the end of January 2019, and as a result the purpose of the contract for Party B to lease the
subject factory building cannot be achieved and eventually Party B is forced to cease leasing the subject factory building from Party A, Article 9 and Article 10 of this contract shall be inapplicable. Party A shall deduct and retain all the rent,
property management fees, and security deposit of the lease already paid by the lessee; this contract shall be terminated thereafter, and none of the parties shall bear liabilities. 

  
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 10. Breach of Liabilities 

10.1 During the lease term, in the event that Party A fails to perform repair and maintenance responsibilities agreed in this contract on time and as a result
the factory building is destroyed or lost, which causes property damage or personal injuries of Party B and/or a third party, Party A shall bear indemnification liabilities. 

10.2 In case of breach of this contract due to faults of Party B, which results in the exercise of the right to cancel this contract unilaterally by Party A,
Party A may not return all the rent and lease security deposit already paid by the lessee prior to the cancellation of this contract, and at the same time shall require Party B to pay for a breach penalty equivalent to 12 months’ rent (the rent
for the factory building + property management fees for the factory building); moreover, Party A shall bear no indemnification liability for any decoration value of Party B. At the same time, Party A shall retain the right to claim for losses
incurred by Party A against Party B due to the breach of contract by Party B prior to the cancellation of this contract in accordance with other provisions of this contract and/or laws and regulations. 

10.3 In case of breach of this contract due to faults of Party A, which results in the exercise of the right to cancel this contract unilaterally by Party B,
all the rent already paid by the lessee for the period, in which the lease has not actually used the factory building, prior to the cancellation of this contract by Party B as well as the lease security deposit shall be returned, and at the same
time Party B shall require Party A to pay for a breach penalty equivalent to 12 months’ rent (the rent for the factory building + property management fees for the factory building). At the same time, Party B shall retain the right to claim for
losses incurred by Party B against Party A due to the breach of contract by Party A prior to the cancellation of this contract in accordance with other provisions of this contract and/or laws and regulations. 

10.4 In the event that the lessee renovates the property or add auxiliary facilities without written approval of Party A or exceeding the scope and
requirements of the written approval of Party A, Party A may require the lessee to restore the property to its original state and the indemnification for losses. 

10.5 Unless otherwise agreed in this contract, in the event that one party fails to perform any or a portion of the obligation under this contract, it shall
bear the actual loss incurred thereby to the other party. In the event that the breach is caused by faults attributable to both parties, each party shall bear liabilities according to the degree of its respective fault. 

  
 18/22 

 11. Miscellaneous Provisions 

11.1 Party B shall repair, maintain, update, replace, and clean equipment and facilities installed by Party B in the factory building at its own expense during
the lease term, and Party B shall bear all costs incurred thereby. 
 11.2 Party B shall complete on its own the application and approval procedures for the
operation, design, and renovation involving planning, environmental protection, health, water, electricity, gas, communication, and firefighting as stipulated by the State, and Party B shall bear relevant costs incurred by the approval. In the event
that Party B has to modify the firefighting facilities of Party A, written approval of Party A shall be acquired, and Party B shall bear the costs incurred thereby. 

11.3 Business practices of Party B may not damage relationships with neighbors; in the event that its business practices violate laws, ordinances, or relevant
regulations of regulatory authorities of the government or jeopardize Party A and a third party, Party A shall have the right to order Party B to make rectification, repair, or cease operation, and Party B shall bear the losses incurred thereby
(including penalties imposed by government authorities for the practices of Party B). In the event that Party B fails to make rectification or repair within a reasonable period designated by Party A, Party A shall have the right to make
rectification or repair on its behalf; however, Party B shall bear all costs for the rectification or repair. 
 11.4 During the performance of the
contract, Party B shall bear on its own the debts owed to a third party incurred during its business activities as well as other civil liabilities. In the event that Party A incurs financial losses thereby, Party B shall bear indemnification
liabilities. 
 11.5 All notices or communications sent between the parties to this contract shall be sent in writing according to the correspondence
addresses or fax numbers as agreed in the Appendix 4 to the contract. In the event that the contact method of one party changes, it shall send a written notice to the other party as soon as possible, and provide the new contact method in the notice.

  
 19/22 

 11.6 Regarding any notice or communication, if delivered directly, it shall be considered that it is
received at the time of delivery; in case of fax, it shall be considered that it is received once it is sent; however, there shall be a subsequent written confirmation by the recipient; in case of domestic or international express mail, it shall be
considered that it is received on the third day it is mailed; in case of registered mail, it shall be considered that it is received after the fifth day it is mailed. 

11.7 Once Party B takes over the property, any notice to Party B shall be considered with absolute certainty to have been received by Party B if it is clearly
addressed Party B as the recipient and is delivered to the property, and it shall be considered that Party B receives it on the next business day. 
 12.
Other Special Agreement 
 During the lease term, in the event that the makeshift house and the shed to the east of the factory building are demolished
by the government, Party B shall cooperate unconditionally and shall have no right to receive any indemnification. 
 13. Governing Law and Dispute
Resolution 
 This contract shall be governed and interpreted by the laws of the People’s Republic of China. In case of disputes arising from or
related to the contract, both parties shall negotiate to resolve the disputes. In the event that negotiation is unsuccessful, a lawsuit may be filed at a people’s court at the location of the lease property. The losing party of the case shall
bear all costs incurred by the litigation, including but not limited to reasonable attorney fees, litigation costs, evidence preservation fees, transportation costs, and accommodation costs. 

14. Contract Effectiveness and Commitment 
 14.1 Any
revision or amendment to this contract and its appendices shall only become effective once a written agreement is concluded by three parties and is signed or affixed contract special seals by legal representatives or authorized representatives. 

  
 20/22 

 14.2 Any appendix to this contract shall be an inseparable part of this contract and shall be equally
legally binding as this contract. In case of inconsistency or conflict between this contract and relevant content of an appendix or attachment to this contract, the agreement in the appendix or attachment shall prevail. 

14.3 In the event that certain provisions of this contract are invalid, the effectiveness of other provisions may not be impacted. Both parties shall
negotiate and determined a new provision, which is allowed by laws of China and is closest to the original purpose of the corresponding provision. Matters that are not addressed in this contract shall be negotiated and decided by both parties in
accordance with relevant stipulations of the laws of the People’s Republic of China. 
 14.4 Party B shall have the right to set up a new subsidiary or
affiliate and use the subject factory building as the registered address of its subsidiary or affiliate; under such circumstance, the subsidiary or affiliate shall be automatically added to this contract as an affiliated party of Party B, and shall
jointly bear the original rights and obligations of Party B under this contract with Party B. Party A shall cooperate with Party B to complete the registration of the subsidiary or Party B may subsequently change the registered address to the
address of the subject factory building on its own, including but not limited to a simple version of the lease contract signed separately by Party A and its subsidiary for the purpose of completing the registration for industry and commerce. 

15. Sales and Mortgage 
 15.1 Party A has hereby notified
Party B and Party C that a mortgage is set up for the subject property. However, Party A has committed that during the lease term, in the event that the mortgage is realized under any circumstance and as a result Party B cannot continue to lease the
subject factory building according to the same conditions agreed in this contract, Party B shall have the right to claim breach liabilities against Party A according to the same conditions outlined in Article 9.2.1 of this contract. 

  
 21/22 

 15.2 All parties have hereby expressly agreed: during the lease term, Party A shall have the right to sell
or mortgage the subject factory building with complete independence, and shall have the right to sell the subject factory building to a third party or dispose of the subject factory building at a discounted price or as a sell-off or by any other means based on the negotiation with the mortgagee with complete independence; Party B and Party C have hereby expressly committed that: Party B and Party C shall irrevocably and
unconditionally give up any right of first refusal that they acquire, regarding the subject factory building sold, mortgaged, or disposed of by any other means by Party A according to the aforementioned stipulation. However, before the sale or
mortgage, Party A shall notify Party B and Party C in writing at least one month in advance. 
 16. Miscellaneous 

16.1 The original of this contract shall be made in one set of six copies. The three parties shall each retain two copies. 

16.2 This contract shall become effective once the legal representatives or legal representatives of the three parties sign and affix seals. 

Party A (Seal): Meikolong (Shanghai) Shop Equipment Industry Co., Ltd. 

[seal:] Meikolong (Shanghai) Shop Equipment Industry Co., Ltd. Contract Special Seal 

Representative: [signature]             Date: [hw:] 08/28/2018 

Party B (Seal): SolidEnergy Systems (Shanghai) Co., Ltd. 

[seal:] SolidEnergy Systems (Shanghai) Co., Ltd. 

Representative: [signature]             Date: [hw:] 10/08/2018 

Party C (Seal): Shanghai Jiading Industrial Zone Management Committee 

[seal:] Shanghai Jiading Industrial Zone Management Committee 

Representative: [signature]             Date: 

  
 22/22 

					
	Shanghai Certificate of Real Estate Ownership	  	  
 In accordance with the Law of
Land Administration of the People’s Republic of China, the Law of Real Estate Administration of the People’s Republic of China, Shanghai Regulations for Real Estate Registration and other relevant laws and regulations, to protect the
legitimate rights and interests of the owner of land-use rights and the house owner, registration is hereby granted and this certificate is given to such owner for the land, house and other appurtenances
listed in this his/her registration application after due examination and verification.
  

This certificate is the proof of the ownership rights to the real estate on State-owned land lot.

 
 Shanghai Housing and Land Resources Administration Bureau

 
 [seal:] Shanghai Housing and Land Resources Administration
Bureau

	Hu Fang Di Jia Zi (2008) No. 027417
	

	  	

    
	Registration Date: December 18, 2008
	

 

 
 Owner Mei Ko Long (Shanghai) Shop Equipment Industry Co., Ltd. House and land location No. 1688, Yecheng Road, Jiading District Land
status Source of use rights Assignment Usage Industry Land parcel number Parcel 3/3, Neighborhood 119, Jiading Industrial Zone, Jiading District Land parcel area 61,198.0 Tenure of use Total area 61,198.0 Where Solely used area 61,198.0 Apportioned
area House status Building number See registration information for details Room number or location See registration information for details Construction area 33,602.89 Type See registration information for details Usage See registration information
for details Number of floors See registration information for details Date of completion See registration information for details Filling Authority: Real Estate Registration Office of Jiading District, Shanghai [seal:] Real Estate Registration
Office of Jiading District, Shanghai Unit of area: square meter 

			
	Appendix 1	  	Shanghai Real Estate Registration Information

  
 

 
 Appendix 1 Shanghai Real Estate Registration Information Ownership information Owner: Mei Ko Long (Shanghai) Shop Equipment Industry
Co., Ltd. Co-owner and co-ownership status: House location: No. 1688, Yecheng Road, Jiading District Acceptance date: December 12, 2008 Approval date: December 18, 2008 Cancellation date: Ownership certificate or proof number: Jia 2008027417
Remarks: Where, for the land area of 20,030 m2, the tenure of use is from November 5, 2002 to November 4, 2052; for the land area of 17,811 m2, the tenure of use is from September 26, 2001 to September 25, 2051; for the land area of 23,357 m2, the
tenure of use is from June 20, 2000 to June 19, 2050. Building number Location Construction area Underground construction area Number of floors House type House structure Source of ownership Completion date No. 1688 – Building 1 Whole building
12,155.99 0.00 1 Factory Steel reinforced concrete Newly-built 2005 No. 1688 – Building 2 Whole building 5,733.14 0.00 1 Factory Steel reinforced concrete Newly-built 2005 No. 1688 – Building 3 Whole building 15,188.45 0.00 2 Factory Steel
reinforced concrete Newly-built 2006 No. 1688 – Building 5 Whole building 525.31 0.00 2 Factory Steel reinforced concrete Newly-built 2008 Notes: On July 6, 2009, the mortgage of the whole building of No. 1688 – Building 1 is deregistered
(200925606916) On July 6, 2009, the mortgage of the whole building of No. 1688 – Building 2 is deregistered (200925606916) Land status Land parcel number: Parcel 3/3, Neighborhood 119, Jiading Industrial Zone, Jiading District Tenure of use:
Source of use rights: Assignment Planned usage: Industry Shared area: 61,198 Total area: 61,198 Information on other rights: Type of right: Certificated mortgage Amount of creditor’s rights: 0 yuan House location: No. 1688, Yecheng Road,
Jiading District Ownership certificate or proof number: Jia 200813021927 Owner of other rights: Shanghai Jiading Sub-branch of Bank of Communications Co., Ltd. Setting date: Ending date: Acceptance date: December 12, 2008 Approval date: December 18,
2008 Cancellation date: July 6, 2009 Cancellation certificate number: 200925606916 Cancellation reason: Remarks: The land area is 61,198 m2. The maximum limit of creditor’s rights is 38,500,000 yuan. The generation period of creditor’s
rights is from June 16, 2006 to June 15, 2009. Building number Location Construction area Underground construction area Number of floors House type House structure Source of ownership Completion date No. 1688 Whole building 0.00 0.00 1 Factory Steel
reinforced concrete Buying and selling 2005 [seal:] Special Seal for Inquiry of Real Estate Registration Information of Jiading District [handwritten:] March 15, 2017 

 

 
 Land Parcel Map District (county): Jiading District Neighborhood: Jiading Industrial Zone Neighborhood number: Neighborhood 119 Land
parcel number: 3/3 [handwritten:] Leased area of SES Mei Ko Long (Shanghai) Shop Equipment Industry Co., Ltd. Mei Ko Long (Shanghai) Shop Equipment Industry Co., Ltd. Shanghai Housing and Land Resources Administration Bureau December 11, 2008

 Appendix 2 
  
 

 
 Appendix 2 Map of Factory Area Leased from Mei Ko Long 

 Appendix 2 

Map of the Current Status of the Delivered Factory 
  

 
 Appendix 2 Map of the Current Status of the Delivered FactoryEX-10.16

 Exhibit 10.16 

Plant Lease Contract 
 Lessor: Meikolong
(Shanghai) Shop Equipment Industry Co., Ltd. 
 Lessee: SES (Shanghai) New Energy Technology Co., Ltd. 

September 2021 

 [hw:] Q21-235 

Plant Lease Contract 
 This Plant Lease Contract
was jointly signed in Jiading District, Shanghai, China on August 28, 2021 by: 
 Lessor (“Party A”): Meikolong
(Shanghai) Shop Equipment Industry Co., Ltd. 
 Lessee (“Party B”): SES (Shanghai) New Energy Technology Co., Ltd. 

Whereas Party A and Party B (former name: SES (Shanghai) Co., Ltd.) entered into a Plant Lease Contract (hereinafter referred to as the “Original
Contract”) with Shanghai Jiading Industrial Zone Management Committee in August 2018, stipulating that Party B shall lease the first floor of the south half, which covers an area of 6,000 m2,
of Party A’s Plant No.1, which has a building area of 12,155.99 m2, located in the north of No. 1688, Yecheng Road, Jiading District, Shanghai from September 1, 2018. Now Party B is
willing to lease the other north half of the plant, which covers an area of 6,078 m2 (hereinafter referred to as the “Target Plant”), and the sites located in the north and east of the
Plant No.1 with an area of about 2,000 m2. Now the parties have agreed on the renewal of the Original Contract upon expiration and on the lease of the Target Plant and the sites, and signed this
Contract. 
 1. Plant lease 
 1.1 Location of Target Plant 

The Target Plant is located in the north of No. 1688, Yecheng Road, Jiading District, Shanghai. 

1.2 Special explanations on renewal of leased plant area of Original Contract 

The lease of the plant area under the Original Contract, or the area of 6,000 m2 which is the first floor
of the south half of the 12,155.99 m2 Plant No.1, will expire on August 31, 2023. Now Party A and Party B decide to renew the lease upon expiration by three (3) years, i.e. from
September 1, 2023 to August 31, 2026. For the purpose of the renewal, the description of Target Plant, structure and facilities of the plant, rent, property management fee, and deposit shall be governed by the Original Contract, and the
other matters shall be governed by this Contract. 
  

  
 1 

 1.3 Description of the additional leased Target Plant and sites 

1.3.1 The real estate leased by Party B is the north half of the Plant No.1 with a building area of 12,155.99
m2 owned by Party A (the area is recorded in the Certificate of House Ownership (Hu Fang Di Jia Zi (2008) No. 027417), as detailed in Appendix 1 attached hereto) located at
No. 1688, Yecheng Road, Jiading District, Shanghai, and the sites with an area of about 2,000 m2 located in the north and east of the plant. 

With an area of 6,078 m2, the north half of the Plant No.1 extends to the middle column of the plant in
the south and includes the power distribution room in the east of the plant. The gate and the guard room on Fuhai Road in the north of the plant shall be exclusively used and managed by Party B. Party B shall return the right to use the gate at 1581
Zhaoxian Road in the east of Party A’s plant before November 30, 2021 and remove the brand logo. The main road of the plant is a public channel. Party B shall ensure that the main road is safe and smooth, and shall not occupy or pile up
items on the road and affect the use of others.. The floor plan of the leased plant and site areas is detailed in Appendix 2. Party B confirms that it has measured the area of the leased areas before signing the Contract and has no objection. 

1.3.2 Party A, as the sole owner of or the person with the right to lease the Target Plant, shall establish the lease relationship with Party B, and deliver
sealed copies of written materials such as the certificate of title and power of attorney to Party B when signing this Contract, which shall be kept by Party B after verification with the originals of Party A. 

1.3.3 Party A shall ensure that it has the full right to use the Target Plant and there is no seizure or mortgage, that Party B has exclusive right of use
during the lease term, and that no third party will exercise or claim to exercise the right of possession, right of lease, right of use and all other rights affecting Party B’s lease and use of the Target Plant. 

 

  
 2 

 1.4 Lease purpose 

1.4.1 Party B undertakes to use the Target Plant as the production and office premise of Party B. Party B or the project company invested by Party B shall
obtain the business license and pass the environmental impact assessment for the Target Plant in accordance with the law, and ensure that the production and business activities are legal and in compliance with the environmental protection, fire
protection and safety standards of Shanghai. When Party B applies for the relevant certificates, licenses or handle the account opening procedures, Party A shall actively provide assistance, including but not limited to providing relevant
certification materials for Party B. 
 1.4.2 Without the prior written consent of Party A, Party B shall not change the lease purpose, or use the Target
Plant for other activities beyond the business scope registered in its business license. If certain business is not within the business scope of Party B when it is conducted, but Party B promptly changes its business scope and is not punished by the
authorities, Party B shall not be deemed to have breached this provision. 
 1.4.3 Without the prior written consent of Party A, Party B shall not sublet or
sublease part or all of the Target Plant, and shall not assign the rights and obligations under this Contract to any third party or exchange the Target Plant with the plant leased by others. 

1.4.4 If Party B’s violation of Article 1.4 hereof results in punishment by relevant authorities or damage to the legitimate rights and interests of
others, Party B shall bear the corresponding liabilities. If Party A suffers any loss as a result, Party A shall have the right to claim compensation from Party B and get indemnified with the deposit. 

2. Structure, facilities and decoration of the plant 
 2.1
Structure of Target Plant 
 The structure and basic condition of the Target Plant are shown in Appendix 2, Floor Plan and Condition Sheet of the Plant. 

 

  
 3 

 2.2 Facilities of Target Plant 

2.2.1 The Target Plant is equipped with corresponding auxiliary facilities, including: 

(1) tap water joint 
 (2)
drainpipe joint 
 (3) 500KV high voltage connection 

(4) Fire pipes and fire hydrants around the plant 

(5) Public toilet 
 2.2.2 Party B shall be
responsible for the connection between the Target Plant and the above public facilities and supporting infrastructure facilities and the access of the relevant services at the expenses of Party B, while the operation related to the power expansion
shall be carried out according to Article 2.3.6. 
 2.2.3 Party B shall pay the water and electricity charges for the use of the plant, public facilities and
supporting infrastructure facilities. (The water and electricity charges shall be collected by Party A from Party B and paid on its behalf according to the reading of the meter installed in Party B’s use area.) 

2.2.4 Party A shall inspect the roof of the Target Plant before delivery. Party A shall conduct a rainstorm test for leakage together with Party B at the time
of delivery. 
 2.3 Decoration 
 2.3.1 Party B shall be
responsible for the internal decoration of the plant. If necessary for the production, Party B can change and divide the plant without affecting the safety of the structure. Party B shall first submit a written internal modification plan to Party A.
The interior decoration and modification plan shall meet the requirements of safety, fire protection, environmental protection, sanitation and epidemic prevention and shall be implemented only with the written consent of Party A. 

2.3.2 Party B shall comply with the laws and regulations of the State and Shanghai concerning construction, fire prevention, environmental protection, health
and epidemic prevention when carrying out the alteration, separation and decoration works. The production and domestic sewage of Party B shall be discharged into the sewage pipe and is strictly prohibited to be discharged into the rainwater pipe.
Under any circumstance, if Party B’s decoration and modification do not meet the requirements of fire protection and environmental protection or the relevant authorities impose rectification requirements, Party B shall make rectification
according to the requirements until the acceptance conditions of fire protection and environmental protection are met. Otherwise, Party A has the right to terminate the contract with Party B without any liability. If the relevant authorities impose
penalties on Party A because Party B’s decoration, alteration or transformation results in hidden safety hazards of the plant or violation of laws and regulations, Party A shall have the right to request Party B to compensate for the actual
losses suffered by Party A. 

  
 4 

 2.3.3 The expenses for alteration, separation, decoration and rectification shall be solely borne by Party
B, who shall also bear all the expenses and legal liabilities arising from the application for approval by the competent government department. During the lease term, Party B shall bear all the responsibilities and expenses arising from any
rectification required by the government for the decoration of the premises. If Party B changes the decoration of the plant during the lease term, Party B shall restore it to original condition when the plant is returned (except for the parts that
Party A has agreed to retain in writing or the parts that have been approved by Party A during decoration and cannot be restored) . If Party B needs to open doors and windows on the plant facade, it can only be implemented with written consent of
Party A. 
 2.3.4 Before the decoration, Party B and the decoration service provider hired by Party B shall sign the decoration management agreement with
Party A to prevent the damage to Party A’s facilities and environment caused by Party B and the decoration service provider hired by Party B incidentally during the decoration process. If Party B or the decoration service provider hired by
Party B damages Party A’s facilities and environment during the decoration, Party A has the right to deduct such losses from the contract deposit. If the deposit is insufficient to cover Party A’s losses, Party B responsible for decoration
and the decoration service provider it hires shall be liable for compensation.     
 2.3.5 During the lease term, Party B shall have the
right to place its company nameplate and logo on the plant and at the entrance of the plant, provided that the placement scheme shall be subject to written consent of Party A before construction. Party B shall install and maintain such logos or
advertisements at its own expense and shall purchase insurance. In case of any safety accident related to the logos or advertisements installed or placed by Party B, Party B shall bear all the civil liabilities. If Party A suffers any loss due to
the installation and placement of the logos or advertisements, Party A shall have the right to demand Party B to compensate Party A for the actual loss. 

  
 5 

 2.3.6 If Party B needs to increase the power supply capacity, Party A shall assist Party B to go through the
application procedures, and the expenses shall be borne by Party B. 
 3. Delivery and acceptance 

At the request of Party B, Party A shall deliver the plant and the related facilities hereunder to Party B for use on September 1, 2021 (the
“Delivery Date”). On the Delivery Date, the parties shall jointly handle the handover procedures, and the lease term of the plant shall be counted from the Delivery Date. The procedural acceptance of the Target Plant by Party B shall not
release Party A from any liability for the inherent defects of the plant and the related facilities. 
 4. Lease term and renewal 

4.1 Lease term 
 The lease term shall be 5 years, starting from
September 1, 2021 and ending on August 31, 2026. Party A shall offer Party B a three-month rent-free period, starting from September 1, 2021 and ending on November 30, 2021. 

4.2 Renewal 
 To renew this Contract and the lease term, Party B
shall give a written notice to Party A at least 90 days prior to the expiration of the lease term. If Party A agrees to renew the lease and reaches agreement with Party B on the rent in the renewed lease term and other related matters, the parties
shall sign the renewal contract. If the parties cannot reach agreement on renewal, this Contract shall be terminated upon the expiry of the lease term. 

  
 6 

 5. Rent, property management fee, deposit and payment method 

5.1 Rent 
 The rent of the 6,078 m2 plant area for the first year shall be calculated as follows: The daily rent per square meter is RMB 1.748 excluding tax, and the annual rent, excluding tax, is 6,078 m2 x RMB 1.748/day x 365 days = RMB 3,877,885. From the second year, the annual rent increases by 3% over the rent of the previous year. 

The rent of the 2,000 m2 site in the north and east of the plant for the first year shall be calculated as
follows: The daily rent per square meter is RMB 0.5 excluding tax, and the annual rent, excluding tax, is 2,000 m2 x RMB 0.5/day x 365 days = RMB 365,000. From the second year, the annual
rent increases by 3% over the rent of the previous year. 
 5.2 Property management fee 

The property management fee for the Target Plant and sites during the lease term shall be borne by Party B. The property management fee is RMB 0.16/square
meter/day (tax exclusive). The total daily property management fee shall be 8.078m2 X RMB 0.16 = RMB1,292.48. 

The property management services shall include public greening management in the industrial park, public road cleaning, leakage repair of the plant, septic
tank desilting, etc. The property management fee shall remain unchanged during the five-year lease term. 

  
 7 

 5.3 Deposit 

5.3.1 Party B shall pay a deposit of RMB Two Million One Hundred Twenty-one Thousand Four Hundred and Forty-two only (¥2,121,442) to Party A within 20 days after the signing of this Contract and before the delivery of the Target Plant by Party A to Party B (The deposit can be paid by the
parent company of Party B to the affiliated company of Party A in Hong Kong in US dollars. When the deposit can be paid from Party B’s domestic RMB account, the affiliated company of Party A in Hong Kong will return the deposit in US dollars to
the original account. The bank and account number of the deposit are shown in Appendix 3). If Party B fails to pay the deposit in full as agreed, Party A has the right to terminate the contract or delay the delivery of the plant to Party B
without any liability. If any breach of contract by Party B causes losses to Party A, Party A has the right to deduct the amount payable by Party B from the lease deposit or get compensated for the losses incurred thereby. If the deposit is
insufficient to cover the actual losses of Party A, Party B shall pay the shortfall within 10 working days upon receipt of Party A’s written notice. For each overdue day, Party B shall pay liquidated damages to Party A at the rate of 0.5% of
the deposit to be made up per day. 
 5.3.2 Party A shall issue a receipt to Party B after receiving the deposit. Upon the termination of the lease, if Party
B does not have any outstanding rent, property management fee, water and electricity fee, and does not have any violation such as causing damage to the premises and failing to make compensation, the deposit shall be returned to Party B in full
without interest within 10 working days after Party B returns the Target Plant and Party A accepts the plant after inspection and completes the relevant handover procedures. Party A shall assign special personnel to actively cooperate in the
acceptance and handover, and shall complete the acceptance and handover no later than 15 working days after Party B returns the Target Plant. 
 5.4 Payment
method 
 5.4.1 The rent shall be paid on the principle of paying before leasing. The rent shall be paid semi-annually, that is, six months is a rent payment
period. Party B shall pay the rent for the first six-month period on the date of delivery, and the subsequent rent shall be paid to Party A five days before the beginning of each rent payment period. 

  
 8 

 5.4.2 The property management fee shall be paid on the principle of paying before using. Party B shall pay
the property management fee semi-annually, that is, six months is a payment period. The property management fee for the first six-month period shall be paid on the date of delivery, and the subsequent property
management fee shall be paid to Party A five days before the beginning of each payment period. 
 5.4.3 If Party B fails to pay the rent and other amounts in
accordance with the sections 5.1, 5.2 and 5.3, Party B shall pay Party A, in addition to paying the actual usage fee calculated based on the rent (plant rent + plant property management fee), a penalty of 0.5% of the payment due for each day
delayed, and Party A shall have the right to deduct the penalty from the deposit. The rent and deposit that Party B pays to Party A under the Contract shall be settled in RMB by bank transfer. Party A’s bank account number is shown in Annex 3.

 5.4.4 Water and electricity charges (water charges include sewage charges) shall be paid on the principle of using before paying and be settled monthly
according to government pricing. Party B shall transfer water and electricity charges to Party A’s designated bank account monthly within five (5) working days after receipt of the payment notice issued by Party A. If Party B fails to pay
the water and electricity charges in accordance with the Contract, it shall pay a penalty of 0.5% of the water and electricity charges payable per day in addition to the water and electricity charges. Party A shall have the right to deduct the
penalty from the deposit. 
 5.4.5 Both parties agree that the lessee’s rent, property management fee and deposit are exclusive of tax and that water
and electricity charges are inclusive of tax (the sewage charges are exclusive of tax). In case any adjustment in national laws, regulations and rules and related tax regulation documents or any change in Party A’s tax calculation method
results in a change in the VAT rate and thus an increase in the tax payable, the rent, property management fee, water and electricity charges and other expenses that Party B shall pay Party A shall remain unchanged except that the increase in the
VAT and other taxes payable due to the change in the national tax rate shall be borne by the lessee. 

  
 9 

 5.4.6 Within 5 days after receiving the payments of rent, property management fee, water and electricity
charges and other amounts, Party A shall issue the official rent/property management fee/water and electricity charges invoice recognized by the tax authorities to Party B, and the tax shall be borne by Party B. 

6. Maintenance and internal hygiene of Target Plant 
 6.1
Maintenance 
 6.1.1 During the lease, Party A shall carry out daily maintenance of the plant as per the status at delivery and bear relevant expenses. Party
B shall be responsible for the maintenance of the internal facilities and ancillary facilities of the plant and the changes and decoration it carries out in accordance with section 2.3, and shall keep the plant in good condition. If the rainwater
pipes and sewers of the plant are blocked due to Party B’s reasons, Party B shall be responsible for dredging. 
 6.1.2 If the entire or part of the
plant is damaged not due to Party B’s fault and the plant fails meet the leasing purpose as stipulated in the Contract, Party A shall repair and restore the Target Plant to the condition that can be used by Party B within 15 working days after
receiving Party B’s notice. If Party A is unable to repair within the above-mentioned period, Party B shall have the right to repair by itself or designate others to repair provided that the repair plan shall be approved in writing by Party A
in advance, and the expenses incurred thereby shall be borne by Party A. party A shall make a clear reply of denial or consent on the repair plan submitted by Party B within three (3) working days, and Party A shall not refuse Party B’s
repair plan without just cause. Or Party B may repair by itself or designate others to repair, and the expenses incurred thereby shall be paid by Party A in accordance with third-party contracts, related payment bills, bank payment bills, etc., or
be deducted by Party B from the payables to Party A. 
 6.1.3 The renovation and decoration of the plant by Party B shall not be subject to the section
6.1.2. 
 6.1.4 If for reasons not attributable to Party A (including but not limited to weather, Party B’s fault, duration, etc.), Party A is unable to
complete the repair work within 15 working days, section 6.1.2 shall not apply. In case of special emergency maintenance items, Party A shall repair within 24 hours; otherwise, Party B has the right to repair by itself or designate others to repair,
and the expenses incurred thereby shall be borne by Party A in accordance with third-party contracts or bills or may be deducted by Party B from the payables to Party A (except water and electricity repairs in the plant and damages caused by Party
B). 

  
 10 

 6.2 Fire safety and hygiene of leased areas 

6.2.1 During the lease, Party B shall strictly abide by the Fire Protection Regulations of the People’s Republic of China, Shanghai Fire Protection
Regulations and other laws, regulations and rules, actively cooperate with Party A in fire protection, and shall not use firefighting facilities for other purposes. Otherwise, all resulting economic and legal liabilities shall be borne by Party B.

 6.2.2 Party B shall be fully responsible for the fire safety in the leased property in accordance with relevant regulations of the fire department. If
necessary, Party A has the right to inspect and supervise Party B’s fire protection, and Party B shall cooperate in a timely manner. 
 6.2.3 Party B
shall pay attention to safety when using the leased property. Party B shall not place flammable, explosive, toxic and other dangerous substances in the plant. If Party B fails to comply with the regulations and operates in violation of regulations,
causing an accident, the resulting damages and legal liabilities shall be solely borne by Party B. 
 6.2.4 Party B shall be responsible for the
environmental sanitation, cleanliness, garbage collection and transportation inside and outside the leased areas of the plant. Party A has the right to urge and assist Party B to make every effort in fire protection, safety and hygiene, etc. 

6.3 Insurance: During the lease, Party A shall purchase property and other necessary insurances for the leased house. Party B shall purchase property and other
necessary insurances for the decorations, facilities and equipment added by Party B in the leased house. If Party A or Party B or both of them fail to purchase the above-mentioned insurances, all compensations and liabilities arising therefrom shall
be borne by them respectively. 

  
 11 

 7. Confidentiality 

Each party shall be obliged to keep confidential and proprietary business and technical information it obtains from the other party. During the term and after
the expiration of the Contract, except for the purpose of correctly and legally exercising the rights under the Contract, neither party shall disclose any business or technical information about the other party to any third party, or use business or
technical information of the other party for any other purpose. 
 8. Force majeure 

If a party is unable to perform any of its obligations under the Contract due to any event beyond its control, such as wars, serious fires, floods, typhoons,
earthquakes or other force majeure events, the performance period of the party that is unable to perform such obligations hereunder will be extended for the time equal to the duration of the event. The party unable to perform its obligations shall
notify the other party via phone, email, or fax as soon as possible after the occurrence of the force majeure event, and shall provide the other party via registered mail with the certificate confirming the occurrence of the event issued by
competent authorities. If the force majeure event continues for more than 60 days, the other party will have the right to terminate the Contract at any time subject to a written notice given 15 working days in advance. In the event of force majeure,
the parties shall work together and actively cooperate to minimize losses. 

  
 12 

 9. Termination and cancellation of the contract 

9.1 Termination of contract 
 9.1.1 When the lease term expires
and Party B does not renew the lease, the Contract shall be automatically terminated. 
 9.1.2 In the event that the lease term expires and Party B does not
renew the lease, Party B shall return the plant in its entirety (except for normal wear and tear) to Party A on the termination date of the Contract, and ensure that the plant is in good condition and leasable, under Party B’s inspection and
acceptance. At the same time, Party B shall also complete the industrial and commercial cancellation or relocation procedures for the business license with the plant as the registered address. Before handing over the plant, Party B shall provide
Party A with a list of the decoration in the plant to be demolished, and the furniture and equipment left by Party B in the plant. After mutual negotiation between Party A and Party B, it is determined whether to remove or retain the above
facilities. If Party B fails to return the plant within the above agreed time limit or fails to complete the industrial and commercial cancellation or relocation procedures for the business license, Party B shall pay Party A double the rent and
property management fee at that time for the delayed delivery of the occupied plant for each overdue day. At the same time, Party B shall also bear all other expenses incurred during the period of occupying the plant, and shall also be liable for
compensation if other losses are caused to Party A. Party A has the right to deduct the liquidated damages from the deposit paid by Party B. 
 9.1.3 Party B
fails to return the plant to Party A on the date of expiry of the lease term or the date of early termination of the Contract, or fails to dismantle the decoration and facilities in the plant according to the list listed in 9.1.2. Party A has the
right to regard Party B as giving up the ownership of all movable or immovable properties in the plant including decoration, furniture, goods and so on seven days after the expiration of the lease term or the date of early termination of the
Contract, and Party A has the right to open the door lock of the plant and replace the door lock, move the items in the plant, including but not limited to furniture, fixtures, equipment and other additions, out of the plant, and vacate the plant
for recovery. 

  
 13 

 Party A shall not be responsible for any damages or losses to Party B caused thereby. For those objects left
by Party B in the plant, Party A has the right to charge Party B storage fees for such objects, and has the right to sell, transfer, discard or dispose of such objects in any other way in accordance with methods Party A deems appropriate. The
disposition proceeds, if any, shall be used to repay any sums owed by Party B to Party A, and to compensate Party A for the losses incurred and to be incurred due to the reasons stipulated in this paragraph. However, under any circumstances, Party A
will have no obligation to pay or repay any amount to Party B for such objects. 
 9.2 Cancellation of the Contract 

9.2.1 During the lease term, if either party decides to cancel the contract in advance before the lease term expires, it shall notify the other party in
writing at least 12 months in advance or pay a notice fee equivalent to 12 months’ rent. If Party A chooses to pay the notice fee in accordance with the Article 9.2.1 instead of giving written notice 12 months in advance, it shall refund the
deposit and the rent received but not actually used by Party B. If Party B chooses to pay the notice fee in accordance with the Article 9.2.1 instead of written notice 12 months in advance, it can choose to use the deposit and the rent received by
Party A but not actually used by Party B to offset the notice fee. The cancellation of this agreement does not mean that Party B is exempted from the obligation to restore the leased plant to its original state. 

9.2.2 If Party B proposes to terminate the Contract in advance due to its own reasons, Party A shall not be liable for compensation or indemnity of any
decoration value to Party B, and Party B shall pay Party A rent for the three-month rent-free period in addition to fulfilling the obligations agreed in 9.2.1. If Party B fails to perform its obligations as stipulated in 9.2.1 and 9.2.2 of the
Contract, Party A shall have the right to use the deposit and/or Party B’s decorations, etc., to offset the rent, notice fee, liquidated damages, or other losses; Party A also has the right to exercise a lien on the equipment and other assets
in the plant leased by Party B. 

  
 14 

 9.2.3 Both parties agree that in any of the following circumstances, the Contract shall be terminated, and
Party A shall refund Party B’s deposit and the rent and property management fees for the period paid but not used, while both parties shall not be liable for each other’s breach of contract: 

(1) The land use right within the scope occupied by the plant is withdrawn in advance according to law; 

(2) The plant is requisitioned in accordance with the law due to social public interests or urban construction needs; 

(3) The plant is lost or seriously damaged not due to fault of either party in the Contract, so that it cannot be used and cannot be repaired within 90 days.

 In cases (1) and (2) above, Party B shall have the right to obtain compensation due for additional decoration, renovation, facilities, etc., as well
as compensation for suspension of production and business, relocation and resettlement expenses, etc. The specific amount is subject to the amount due to Party B determined in the government demolition assessment report and the demolition agreement
and other documents, or the amount determined through negotiation between the parties and the government, separately, shall prevail. 
 9.2.4 In any of the
following situations, either party has the right to notify the other party in writing to cancel the Contract immediately and unilaterally, except as otherwise stipulated in the Contract: 

(1) One party has seriously violated any provision of the Contract, and has not corrected the breach within 30 days after receiving the notice from the other
party; 
 (2) One party enters into bankruptcy, liquidation, dissolution and other similar procedures. 

9.2.5 If Party B has one of the following acts, Party A has the right to unilaterally terminate the Contract, and require Party B to bear the responsibility
for breach of contract 
 (1) Party B fails to pay rent and property management fees 30 days overdue; 

(2) Party B fails to pay water and electricity bills 30 days overdue; 

(3) Party B fails to make up the deposit 30 days overdue; 
 (4)
Party B, without written consent from Party A, sublet or sublease part or all of the subject matter of the lease to a third party; 

  
 15 

 (5) Party B, without written consent from Party A, alters and destroys the main structure of the plant
without authorization; 
 (6) Party B fails to use the plant for the purpose as stipulated in Article 1.3 of the Contract; 

(7) Party B engages in illegal and criminal activities; 
 (8)
Party B is liquidated or bankrupt; 
 (9) Party B has a large-scale employee strike event, and it causes actual losses to Party A. 

9.2.6 If Party A commits one of the following acts, Party B has the right to unilaterally cancel the Contract, and require Party A to bear the responsibility
for breach of contract: 
 (1) Party A made a false statement or concealed the true situation when signing the Contract, and failed to truthfully disclose to
Party B the possible ownership defects of the subject plant, etc., which may affect Party B’s signing of the Contract. 
 (2) During the lease period,
the plant area is sealed up as a whole due to Party A’s reasons, and Party A cannot properly resolve such unfavorable situations within a reasonable period of time after Party B’s urging. 

(3) Party A overdue delivery of the target plant and space for more than 15 days, and Party A still fails to deliver within 15 days after Party B’s
urging. 
 (4) Party A fails to perform the maintenance and conservation responsibilities as stipulated in the Contract in a timely manner, causing damage or
loss of the plant, resulting in the failure of Party B to achieve the purpose of using the leased plant. 
 10. Liability for breach of contract 

10.1 During the lease period, Party A fails to perform the maintenance and conservation responsibilities as stipulated in the Contract in a timely manner,
causing damage or loss of the plant, resulting in property loss or personal injury to Party B or/and a third party, Party A shall be liable for compensation. 

  
 16 

 10.2 In the event that Party A unilaterally exercises the right to cancel the Contract due to Party B’s
fault that violates the provisions of the Contract, all rents and rental deposits paid by the lessee before Party A cancels the Contract shall not be refunded, in the meanwhile, Party B is required to pay the liquidated damages with amount
equivalent to 12-month rent (plant rent + plant property management fee), and Party A shall not be liable for compensation of any decoration value of Party B. At the same time, Party A reserves the right to
recourse to Party B for losses suffered by Party A due to Party B’s breach of contract before cancellation of the Contract in accordance with other articles of the Contract and/or legal provisions. 

10.3 In the event of Party B unilaterally exercising the right to cancel the Contract due to Party A’s fault that violates the provisions of the Contract,
all rents and rental deposits paid by the lessee before Party B cancels the Contract but not actually used shall be refunded, in the meanwhile, Party A is required to pay the liquidated damages equivalent to
12-month rent (plant rent + plant property management fee). At the same time, Party B reserves the right to recourse to Party A for losses suffered by Party B due to Party A’s breach of contract before
cancellation of the Contract in accordance with other articles of the Contract and/or legal provisions. 
 10.4 If Party B fails to obtain written consent
from Party A, or exceeds the scope and requests of the written consent from Party A, to renovate the house or add auxiliary facilities, Party A may request Party B to restore the house to its original state and compensate for the loss. 

10.5 Unless otherwise agreed in the Contract, if one party fails to perform any or part of its obligations under the Contract, it shall bear the actual losses
caused to other parties. If the breach of contract is caused by the fault of both parties, both parties shall be liable according to the extent of their respective faults. 

  
 17 

 11. Other Terms 

11.1 Party B shall maintain, conserve, update, replace and clean the equipment and facilities installed by Party B in the plant at its own expense during the
lease period. All expenses arising therefrom shall be borne by Party B. 
 11.2 Party B shall handle the planning, environmental protection, sanitation,
water, electricity, gas, communication, fire protection and other nationally stipulated application and approval procedures related to operation, design, and decoration. Party B shall bear relevant expenses arising from application and approval. If
Party B needs to change the fire protection facilities of Party A, it must be approved in writing by Party A, and the expenses incurred shall be borne by Party B. 

11.3 Party B’s business behavior shall not damage the adjacent relationship. If its business behavior violates laws, decrees or the relevant regulations
of the competent government department, or constitutes a hindrance to Party A and third parties, Party A has the right to order Party B to rectify, repair or stop business; the resulting losses, including the penalties imposed by the government for
Party B’s behavior, shall be borne by Party B. If Party B fails to rectify or repair within a reasonable period specified by Party A, Party A has the right to rectify or repair on its behalf, but the cost for rectification or maintenance shall
be borne by Party B. 
 11.4 During performance of the Contract, Party B shall bear the debts and other civil liabilities arising from third parties in
business activities of Party B. If Party A suffers economic losses as a result, Party B shall be liable for compensation. 
 11.5 Any notice or communication
between the parties to the Contract shall be in writing to the contact address or facsimile as agreed in attachment 4 of the Contract. If one party’s contact information changes, it shall notify the other party in writing as soon as possible,
and inform the new contact information in the notice. 

  
 18 

 11.6 For any notice or communication, if delivered by direct delivery, it shall be deemed received upon
delivery, or by facsimile, shall be deemed received upon sent, subject to subsequent written confirmation from the recipient; if mailed by domestic or international courier, then it shall be deemed to have been delivered on the third day after it is
sent out; and if it is sent out by registered mail, it shall be deemed to have been received five days after it is mailed. 
 11.7 After Party B takes over
the house, any notice given to Party B, if it states that Party B is the recipient and is left at the House, will be deemed to have been delivered to Party B with great certainty, and it will be deemed that Party B will receive the notice on the
next working day. 
 12. Other special agreement 
 During the
lease term, if the simple house on the east side and the greenhouse on the north side of the subject plant are demolished due to dismantlement of illegal building by the government, Party B shall cooperate unconditionally, and shall not be entitled
to any compensation. 
 13. Governing Law and Dispute Resolution 

The Contract is governed by the laws of the People’s Republic of China and should be construed accordingly. In the event of any dispute arising out of or
in connection with the Contract, both parties shall resolve it through negotiation. If the negotiation fails, a lawsuit may be submitted to the People’s Court where the leased property is located. The losing party in this case shall bear all
expenses arising from the litigation, including but not limited to reasonable attorney fees, litigation fees, preservation fees, transportation fees, and accommodation fees. 

14. Validity and commitment of the Contract 
 14.1 Any revisions
and amendments to the Contract and its attachments will only take effect after a written agreement signed by both parties, and signed by the legal representatives or authorized representatives and sealed with the official seal or the special
contract seal. 

  
 19 

 14.2 Any attachments to the Contract are an integral part of the Contract, and have the same legal effect as
the Contract. In the event of any inconsistency or conflict between the Contract and the attachments or attached sheets to the Contract, the attachments or attached sheets shall prevail. 

14.3 If some articles of the Contract are invalid, it shall not affect the validity of the remaining articles. The parties shall mutually negotiate and confirm
a new clause that is permitted by Chinese law and that is closest to the original purpose of the corresponding articles. Matters not covered in the Contract shall be decided through consultation between the two parties in accordance with relevant
provisions in the laws of the People’s Republic of China. 
 14.4 Party B has the right to establish new subsidiaries or affiliates, and use the subject
plant as registered address of the Subsidiaries or Affiliates. In this case, the Subsidiaries or Affiliates will automatically join the Contract as related parties of Party B, and jointly undertake the rights and obligations originally attributable
to Party B under the Contract. Party A shall cooperate with Party B to complete the registration for subsidiaries, or that Party B subsequently changes the registered address to the address of the subject plant by itself, including but not limited
to signing a simplified version of the lease contract with Party B and its subsidiaries, separately, for the purpose of industrial and commercial registration. 

15. Sale and mortgage 
 15.1 Party A hereby informs Party B that
the subject house is not mortgaged. If mortgage occurs during the lease period, Party A shall immediately notify Party B in writing; Party A undertakes that during the lease period, if under any circumstances due to realization of the mortgage
right, Party B cannot continue to lease the subject plant under the same conditions as agreed in the Contract, Party B shall have the right to claim liability for breach of contract against Party A in accordance with the same conditions as in
Article 9.2.1 of the Contract. 

  
 20 

 15.2 Both parties hereby expressly agree that: during the lease period, Party A has the right to sell the
subject plant, mortgage the subject plant completely and independently, and has the right to sell the subject plant to a third party, or agree with the mortgagee to dispose the subject plant at discount or sale or other means completely and
independently. Party B hereby expressly undertakes that: Party B irrevocably and unconditionally waives any right of first refusal obtained in respect of Party A’s sale, mortgage and other disposal of the subject plant in accordance with the
aforementioned provisions. However, Party A shall notify Party B in writing at least one month in advance before proceeding with the sale and mortgage. 

16. Others 
 16.1 The Contract is made in sextuplicate. Each side
has three copies. 
 16.2 The Contract takes effect after being signed and sealed by the legal representatives or authorized representatives of both parties.

 Party A (seal): MEI KO LONG (Shanghai) Shop Equipment Industry Co., Ltd. 

[seal:] [bilingual:] MEI KO LONG (SHANGHAI) SHOP EQUIPMENT INDUSTRY CO., LTD. 

 Contract Seal 
 Representative:
[signature]        Date: [hw:] September 13, 2021 
 Party B (seal): SES (Shanghai) New
Energy Technology Co., Ltd. 
 [seal:] SES (Shanghai) New Energy Technology Co., Ltd. 

Representative: [signature]        Date: [hw:] September 17, 2021 

  
 21 

 [hw:] Attachment I 

Shanghai Real Estate Registration Information 

(Status of Entitlement: Current Situation) 
  

																					
	Property information	  	 	Right holder:	 	  	MEI KO LONG (Shanghai) Shop Equipment Industry Co., Ltd.	  
	  	
	  	 

	Co-owners
and
co-ownership:	 
 
 	  			  	
	  	 
	The property
is located at:	 
 	  	No. 1688 Yecheng Road, Jiading District, Shanghai	  
	  	
	Acceptance date:	  
	  	December 12, 2008	  	Approval date:	  	December 18, 2008	  	 	Cancellation date:	 	  	                    
	Title certificate or identification No.:	  
	  	JIA2008027417	  		  		  				  	
	Note:	  
	  	Among them, the period of use for the land area of 20,030 square meters is from November 5, 2002 to November 4, 2052, the period of use for the land area of 17,811 square meters is from September 26, 2001
to September 25, 2051, and the period of use for the land area of 23,357 square meters is from June 20, 2000 to June 19, 2050.
	Building No.	  	 	Site	 	  	Floor area	  	Among them,
the
underground
floor area	  	Story	  	Building
type	  	Building
structure	  	 
	Source of
property right	 
 	  	Completion
date
	Building 1, No. 1688	  	 
	Whole
building	 
 	  	12155.99	  	0.00	  	1	  	Plant	  	Steel and
concrete	  	 	New building	 	  	2005
	Building 2, No. 1688	  	 
	Whole
building	 
 	  	5733.14	  	0.00	  	1	  	Plant	  	Steel and
concrete	  	 	New building	 	  	2005
	Building 3, No. 1688	  	 
	Whole
building	 
 	  	15188.45	  	0.00	  	1	  	Plant	  	Steel and
concrete	  	 	New building	 	  	2006
	Building 5, No. 1688	  	 
	Whole
building	 
 	  	525.31	  	0.00	  	2	  	Plant	  	Steel and
concrete	  	 	New building	 	  	2008
	Mark:	  
	  	On July 6, 2009, the mortgage of the house, the whole building of building No. 1 of No. 1688, was registered (200925606916) as cancellation On July 6, 2009, the mortgage of the house, the whole
building of building No. 2 of No. 1688, was registered (200925606916) as cancellation

																			
	Land profile	  	                        	  	Land No.:	  	 Mound 3/3, 119 Neighborhood, Jiading

Industrial Zone, Jiading District
	  	Period of use:
	  		  	Source of usage right:	  	Grant	  	Planned use:	  	Industrial
	  		  	Common area:	  	61198	  	Total area:	  	61198

  

																	
	Other information	  	Type of right:	  	Certificate mortgage	  	Amount of creditor’s rights:	  	0
	  	The property is located at:	  	No. 1688 Yecheng Road, Jiading District	  	Title certificate or identification No.:	  	JIA200813021927
	  	other rights holder:	  	Bank of Communications Co., Ltd. Shanghai Jiading Sub-branch
	  	Set date:	  		  	End date:	  	
	  	Acceptance date:	  	December 12, 2008	  	Approval date:	  	December 18, 2008	  	Cancellation date:	  	July 6, 2009
	  	Cancellation No.:	  	200925606916	  	Reason for cancellation:	  	
	  	Note:	  	The land area is 61,198 square meters, the maximum amount of creditor’s rights is RMB 38.5 million yuan, and the period of creditor’s rights is from June 16, 2006 to June 15, 2009.
	Building No.	  	Site	  	Floor area	  	 Among

them, the underground floor area
	  	Story	  	 Building

type
	  	Building structure	  	 Source of property

right
	  	Completion date
	Building 2, No. 1688	  	Whole building	  	0.00	  	0.00	  	1	  	Plant	  	Steel and concrete	  	Transaction	  	2005
	Building 1, No. 1688	  	Whole building	  	0.00	  	0.00	  	1	  	Plant	  	Steel and concrete	  	Transaction	  	2005
	Mark:	  	 On July 6, 2009, the mortgage of the house, the whole building of building No. 1 of No. 1688, was registered
(200925606916) as cancellation
 On July 6, 2009, the mortgage of the house, the whole building of building No. 2 of No. 1688, was
registered (200925606916) as cancellation

 Print date: September 3, 2021 9:47 AM 

									
	 [bilingual:] Shanghai Certificate of Real Estate Ownership

 
 Shanghai Real Estate JIA
(2008) No. 027417
  
	 		  	 [bilingual:] In accordance with the Law of Land Administration of the People’s Republic of China, the Law of Urban Real
Estate Administration of the People’s Republic of China and Shanghai Regulations for Real Estate Registration and other relevant laws and regulations, to protect the legitimate rights and interests of the owner of
land-use rights and the house owner, registration is hereby granted and this certificate is given to such owner for the land, house and other appurtenances listed in this his/her registration application after
due examination and verification.
  
 This certificate is the proof of the ownership
rights to the real estate on State-owned land out.
  
 [seal:] Shanghai Housing and Land
Resources Administration Bureau Shanghai Housing and Land Resources Administration Bureau

	 [barcode:]
  

Registration date: December 18, 2008      
  

[barcode:]
	 	 [illegible]
  

CHINA
  

Chinese tax stamp
	 	 Five Yuan
  

[picture]
  

[seal]
	 	            

															
	Right holder	  	MEI KO LONG (Shanghai) Shop Equipment Industry Co., Ltd.	  		  	Building profile	  	Building No.	  	See registration information for details
	The property is located at	  	No. 1688 Yecheng Road, Jiading District, Shanghai	  		  	Room number or site	  	See registration information for details
	Land profile	  	Source of usage right	  	Grant	  		  	Floor area	  	33602.89
	  	Use	  	Industrial	  		  	Type	  	See registration information for details
	  	Land No.	  	Mound 3/3, 119 Neighborhood, Jiading Industrial Zone, Jiading District	  		  	Use	  	See registration information for details
	  	Parcel (Mound) area	  	61198	  		  	Story	  	See registration information for details
	  	Period of use	  		  		  	Completion date	  	See registration information for details
	  	Total area	  	61198.0	  	
	  	Among them	  	Exclusive use area	  	61198.0	  		  	 Entity filling the certificate:

Jiading District Real Estate Registry
 [seal:] Shanghai City
Jiading District Real Estate Registry

	  	Apportioned area	  		  		  		  		  	

 Area unit: square meter 

 

 
 Parcel Map District (county): Jiading District Street: Jiading Industrial Zone Neighborhood No.: 119 Neighborhood Parcel number: 3/3 MEI
KO LONG (Shanghai) Shop Equipment Industry Co., Ltd.MEI KO LONG (Shanghai) Shop Equipment Industry Co., Ltd Shanghai Housing and Land Resources Administration BureauDecember 11, 2008 

  
  

 
 Area Map of the Plant Leased by SES in Phase II Attachment II Fu Hai Road Space Square meter Plant Leased by
SES in Phase II Square meter Plant Leased by SES in Phase I Public passage Produced by Autodesk Educational Edition Product Simple shed Public passage Produced by Autodesk Educational Edition Product Produced by Autodesk Educational Edition Product

 The current situation of the plant leased by SES in phase II 

Attachment II

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}]]