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Exhibit 4.21
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SHAREHOLDER’S PROXY AGREEMENT
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This Agreement is made and entered into by the Parties below on December 9, 2019 in Beijing.
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1.                        Beijing Zhong Zhi Shi Zheng Data Information Technology Co., Ltd. (“Beijing Zhong Zhi Shi Zheng”) Registered Address: Room 208A, 2nd Floor, Building No. 14, South District of No. 46 Zhongguancun South Street, Haidian District, Beijing.
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2.                        Beijing Zhong Zhi Information Technology Academy (“Beijing Zhong Zhi”) Registered Address: Room 1208, 12th Floor, Building No. 2, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing
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3.                        Jianning Dai (the “Shareholder”)
PRC ID No.: [REDACTED]
Address: Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing
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WHEREAS
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1.                        The Shareholder is the current shareholder of Beijing Zhong Zhi, holding 56% of the equity interests in Beijing Zhong Zhi; and
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2.                       The Shareholder intends to appoint Beijing Zhong Zhi Shi Zheng to act as its proxy to exercise its voting rights in Beijing Zhong Zhi, and Beijing Zhong Zhi Shi Zheng intends to accept such appointment.
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The Parties through friendly negotiations hereby agree as follows:
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Article 1   Proxy
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1.1                 The Shareholder hereby irrevocably appoints Beijing Zhong Zhi Shi Zheng, to act as proxy for the Shareholder to exercise its respective rights described below (the “Proxy Rights”) which the Shareholder is entitled to as shareholder of Beijing Zhong Zhi under the Articles of Association of Beijing Zhong Zhi then in effect:
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(1)                   to represent the Shareholder to attend meetings of shareholders (“Shareholders Meetings”) of Beijing Zhong Zhi;
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(2)                   to represent the Shareholder to vote on all matters to be discussed and resolved at the Shareholders Meeting;
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(3)                   to propose to convene interim Shareholders Meetings;
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(4)                   other shareholders’ voting rights under the Articles of Association of Beijing Zhong Zhi (including any other shareholders’ voting rights provided in the amendments to such Articles of Association, if any).
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1.2                 The Shareholder shall recognize any legal consequence arising out of exercising the aforesaid Proxy Rights by Beijing Zhong Zhi Shi Zheng and shall bear corresponding responsibilities therefor.
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1.3                 The Shareholder hereby confirms that Beijing Zhong Zhi Shi Zheng can exercise the aforesaid Proxy Rights without seeking the opinions of the Shareholders. Beijing Zhong Zhi Shi Zheng shall notify the Shareholder in a timely manner of any resolution, or any proposal to hold interim Shareholders Meetings, after such resolution or proposal is made.
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Article 2   Rights to Know
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2.1                 In order to exercise the Proxy Rights hereunder, Beijing Zhong Zhi Shi Zheng is entitled to inspect all relevant information about the operations, businesses, customers, finances, employees and the like of Beijing Zhong Zhi, and refer to any relevant materials and documents of Beijing Zhong Zhi and Beijing Zhong Zhi shall render its full cooperation.
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Article 3   Exercise of the Proxy Rights
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3.1                 The Shareholder shall recognize that Beijing Zhong Zhi Shi Zheng may re-appoint, when necessary, specific person(s) in itself, to act as proxy for Beijing Zhong Zhi Shi Zheng to exercise any or all of its Proxy Rights within the scope of Article 1 and the Shareholder shall agree to bear all corresponding legal responsibilities.
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3.2                 The Shareholder shall render full assistance to Beijing Zhong Zhi Shi Zheng in exercising its Proxy Rights, including the timely signing of resolutions of the Shareholders Meetings or other relevant legal documents of Beijing Zhong Zhi when necessary (e.g. upon the request of government departments to submit documents for examination and approval, registration and reference).
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3.3                 If, at any time during the term of this Agreement and for any reason, the Proxy Rights hereunder cannot be granted or exercised (except for breach of this Agreement by the Shareholder or Beijing Zhong Zhi), the Parties shall forthwith seek a substitute similar to this Agreement, and sign, when necessary, a supplemental agreement to amend or modify the terms and conditions herein in order to ensure the continuing performance of this Agreement.
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Article 4   Exemption and Compensation
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4.1                 The Parties hereby confirm that Beijing Zhong Zhi Shi Zheng shall not be required to bear any responsibility for, or make any compensation, financially or otherwise, to the other Parties or any third party, with respect to the exercise of the Proxy Rights under this Agreement.
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4.2                 The Shareholder and Beijing Zhong Zhi hereby agree to indemnify Beijing Zhong Zhi Shi Zheng for, and hold it harmless against, all losses suffered or likely to be suffered from exercising the Proxy Rights, including but not limited to any loss resulting from any litigation, collection, arbitration, claim or administrative investigation or punishment by governmental agency brought by any third party. However, losses due to intentional or serious misconduct of Beijing Zhong Zhi Shi Zheng shall not be compensated.
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Article 5   Representations and Warranties
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5.1                 The Shareholder hereby represents and warrants as follows:
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5.1.1       It is a PRC citizen with full capacity for civil conduct, and has full and independent legal status and capacity to sign, deliver and perform this Agreement. It can become a party as the subject of litigation independently.
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5.1.2     It has full power to sign and deliver this Agreement and all other documents related to the transactions described herein and to be signed by such party and it has full power to complete the transactions described in this Agreement. This Agreement shall be binding upon, and may be enforced against, such Party in accordance with the terms and conditions hereunder.
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5.1.3       It is a legal shareholder of Beijing Zhong Zhi at the time this Agreement comes into force. Other than the rights defined under this Agreement, the equity pledge agreement entered into by the Shareholder and Beijing Zhong Zhi Shi Zheng, and the exclusive call option agreement entered into by the Shareholder, Beijing Zhong Zhi Shi Zheng and Beijing Zhong Zhi, no third-party rights exist in the Proxy Rights. Under this Agreement, Beijing Zhong Zhi Shi Zheng may fully and completely exercise such Proxy Rights in accordance with the Articles of Association of Beijing Zhong Zhi then in effect.
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5.2                 Beijing Zhong Zhi Shi Zheng and Beijing Zhong Zhi hereby respectively represent and warrant as follows:
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5.2.1       Each party is a company with limited liability duly organized and validly existing under the laws where it is registered, with the qualification of independent legal person and fully independent legal status, and is legally competent to execute, deliver and undertake this Agreement. It can become a party as the subject of litigation independently.
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5.2.2       Each party has full power and authorization to sign and deliver this Agreement and all other documents related to the transactions described herein and to be signed by such party; and each party has full power and authorization to complete the transactions described in this Agreement.
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5.3                 Beijing Zhong Zhi hereby declares and warrants as follows:
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5.3.1       The Shareholders are all the legal shareholders registered in Beijing Zhong Zhi when this Agreement comes into force. Under this Agreement, Beijing Zhong Zhi Shi Zheng can fully and completely exercise its Proxy Rights in accordance with the Articles of Association of Beijing Zhong Zhi then in effect.
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Article 6   Term of this Agreement
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6.1                 This Agreement shall come into force upon due execution on the date first written above. Unless it is agreed in writing by the parties herein to terminate in advance, the term of this Agreement shall be extended indefinitely, provided that the Shareholder remains a shareholder of Beijing Zhong Zhi.
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6.2                 If the Shareholder transfers all its equity interest in Beijing Zhong Zhi with prior consent of Beijing Zhong Zhi Shi Zheng, such party shall no longer be a party herein, but the obligations and undertakings of the other parties herein shall not be affected.
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Article 7   Notice
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7.1                 Any notice or other communication sent by any Party shall be written in Chinese, and sent by mail or facsimile transmission to the addresses of the other Parties set forth below or to other designated addresses previously notified by any such other Party. If any Party changes its address, it shall notify the other Parties of such change in a timely and effective manner. The dates on which such notices are deemed to have been effectively given shall be determined as follows:
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(A)                 Notices given by personal delivery shall be deemed effectively given on the date of personal delivery;
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(B)                 Notices sent by registered airmail (postage prepaid) shall be deemed effectively given on the seventh (7th) day after the date on which they were mailed (as indicated by the postmark), or notices sent by a courier recognized by the Parties shall be deemed effectively given on the third (3rd) day after they were sent to such courier service agency; and
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(C)                 Notices sent by facsimile transmission shall be deemed effectively given on the first (1st) business day following the date of transmission, as indicated on the document.
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Beijing Zhong Zhi Shi Zheng Data Information Technology Co., Ltd.
Address: Room 208A, 2nd Floor, Building No. 14, South District of No. 46 Zhongguancun South Street, Haidian District, Beijing
Fax: [REDACTED]
Tel: [REDACTED]
Attention: Yu Huang
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Beijing Zhong Zhi Information Technology Academy
Address: Room 1208, 12th Floor, Building No. 2, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing
Fax: [REDACTED]
Tel: [REDACTED]
Attention: Yu Huang
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Jianning Dai
Address: Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing
Fax: [REDACTED]
Tel: [REDACTED]
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Article 8   Breach and Liabilities
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8.1                 The parties herein hereby agree and confirm that if one party (“Breaching Party”) materially breaches any of the agreed terms and conditions under this Agreement, or materially fails to perform any of its obligations herein, such Breaching Party shall be deemed to have breached this Agreement (“Breach”), any of the other non-breaching parties (“Non-Breaching Parties”) is entitled to request the Breaching Party to redress or take remedial measures within a reasonable time period. If the Breaching Party, within a reasonable time period or within thirty (30) days upon receiving the written notice from any Non-Breaching Party requesting redress, but fails to redress or take remedial measures, then (1) Beijing Zhong Zhi Shi Zheng shall be entitled to terminate this Agreement and claim damages from the Breaching Party should the Shareholder or Beijing Zhong Zhi breach this Agreement; (2) the Non-Breaching Parties shall be entitled to claim damages but not be entitled to terminate or abrogate this Agreement or the proxy herein should Beijing Zhong Zhi Shi Zheng breach this Agreement.
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8.2                 Notwithstanding the other provisions herein, the validity of this Article shall not be affected by the suspension or termination of this Agreement.
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Article 9   Miscellaneous
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9.1                 This Agreement is made in Chinese with three (3) original copies in total, each Party to hold one.
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9.2                 The Laws of the People’s Republic of China shall govern the conclusion, effectiveness, performance, amendment, interpretation and termination of this Agreement. The Laws of the People’s Republic of China referred to herein does not include the laws of Taiwan, the Hong Kong Special Administration Region or the Macau Special Administration Region.
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9.3                 Any dispute arising hereof or other relevant disputes shall be settled through negotiations. If such dispute cannot be settled within thirty (30) days after the negotiations start, it shall be submitted to the China International Economic and Trade Arbitration Commission and arbitrated in Beijing
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in accordance with the arbitration rules of such arbitration commission. The arbitration award shall be accepted as final and binding upon the Parties.
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9.4                 Any rights, power or remedy of the parties under any term and conditions herein shall not deprive such parties of any other rights, power or remedy under the laws and this Agreement. A party’s exercise of its rights, power and remedy shall not affect the exercise of its other rights, powers and remedies.
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9.5                 One party’s failure to exercise or delay in exercising any of its rights, powers or remedies (“Rights of Such Party”) under this Agreement or laws shall not lead to the waiver of the Rights of Such Party. Any individual or partial waiver of the Rights of Such Party shall not deprive such party’s rights in exercising in other ways of the Rights of Such Party or exercise other rights of such party.
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9.6                 The title of each article is for reference and shall under no circumstance be used for, or affect, the interpretation of the terms and conditions hereunder.
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9.7                 Any of the terms and conditions hereunder can be severed and independent from the others. If one or more of such terms and conditions shall be invalid, illegal, or unenforceable, the validity, legality and enforceability of the remaining terms and conditions hereunder shall not be in any way affected or impaired.
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9.8                 Any amendment and supplement to this Agreement shall be made in writing, and come into force upon proper signature by the parties herein.
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9.9                 Without the prior written consent of the other parties herein, any party shall not transfer any of its rights and/or obligations hereunder to any third party.
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9.10          This Agreement shall be binding upon each party’s legal successors and transferees permitted by the other parties as if they were a contracting party to this Agreement.
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[Signature Page to Shareholder’s Proxy Agreement]
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	Beijing Zhong Zhi Shi Zheng Data Information Technology Co., Ltd. (Seal)

	Legal representative or authorized agent 
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	(Signature):
	/s/ Yu Huang
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	Beijing Zhong Zhi Information Technology Academy (Seal)

	Legal representative or authorized agent 
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	(Signature):
	/s/ Yu Huang
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	Jianning Dai

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	Signature:
	/s/ Jianning Dai
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Exhibit 4.22
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OPERATING AGREEMENT
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This Agreement is made and entered into by the Parties below on December 9, 2019 in Beijing.
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Party A: Beijing Zhong Zhi Shi Zheng Data Information Technology Co., Ltd.
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Registered Address: Room 208A, 2nd Floor, Building No. 14, South District of No. 46 Zhongguancun South Street, Haidian District, Beijing
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Party B: Beijing Zhong Zhi Information Technology Academy
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Registered Address: Room 1208, 12th Floor, Building No. 2, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing
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Party C: Jianning Dai
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Address: Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing
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WHEREAS:
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1.                   Party A is a wholly foreign owned enterprise established in People’s Republic of China (“China”);
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2.                  Party B is a collective ownership (stock cooperative) enterprise registered in China, with the approval of Beijing Administration of Industry and Commerce to engage in engineering and technology research; technology development, technology transfer, technology consultation, technology service, organization of cultural and artistic exchange activities (excluding performances);
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3.                   Party A and Party B have established a business relationship through an Exclusive Technical Consultancy and Services Agreement;
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4.                   Pursuant to the Exclusive Technical Consultancy and Services Agreement between Party A and Party B, Party B shall pay Party A certain specified amounts, which have not yet been paid by Party B, while Party B’s daily operations have a material effect on the ability of Party B to pay such remuneration to Party A;
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5.                   Party C is a shareholder of Party B, holding 56% equity interests in Party B;
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6.                   Party A, Party B and Party C hereby agree to further identify matters in relation to the operation of Party B’s business pursuant to this Agreement.
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NOW, THEREFORE, the Parties hereof through negotiation agree as follows:
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1.                   When Party B enters into a business contract or agreement with any third party (“Third Party”) and is in line with the relevant terms and conditions hereunder, Party A hereby agrees that it shall sign, with such Third Party upon its request, a written agreement to be the performance guarantor of Party B by furnishing complete guaranty for Party B’s performance under such contract or agreement in order to ensure the normal operation of Party B’s business. As counter security, Party B hereby agrees that it shall mortgage to Party A its accounts receivable and all of its assets.
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2.                   In accordance with the provisions of Article 1 and in order to guarantee the performance of all business agreements, including the Exclusive Technical Consultancy and Services Agreement, between Party A and Party B, and the disbursement of all accounts payable by Party B to Party A under the Exclusive Technical Consultancy and Services Agreement, Party B and its shareholder Party C, hereby agrees that Party B, without the prior written consent of Party A or its designee, shall not engage in any transaction that may materially affect the assets, obligations, rights and operations of Party B, including but not limited to the following:
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2.1            borrowing money or undertaking any obligation from any Third Party;
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2.2            selling to or acquiring from any Third Party any assets or rights, including but not limited to any intellectual property rights;
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2.3            providing security with the title of its assets or intellectual property rights for the benefit of any Third Party; and
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2.4            Transferring rights and obligations herein to any Third Party.
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3.                   In order to guarantee the performance of all business agreements, including the Exclusive Technical Consultancy and Services Agreement, between Party A and Party B, and the payment of all accounts payable by Party B to Party A under the Exclusive Technical Consultancy and Services Agreement, Party B and its shareholder, Party C, hereby agree to accept (1) company policies and instructions provided by Party A from time to time on the employment and termination of working staff, daily operations and management, and financial management systems and other similar policies; and (2) annual budget of Party B shall be reviewed and approved by Party A. The scope of the review includes but not limited to profit forecast, working capital, pricing strategy and payment policy. Operating costs of Party B shall not exceed the annual budget approved by Party A.
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4.                   Party B and its shareholder, Party C, hereby agree that Party B and Party C shall appoint the persons designated by Party A to be the directors of Party B, and senior management personnel employed by, and as designated by, Party A to be the general manager, chief financial officer and other senior management personnel of Party B. If the aforesaid directors or senior management personnel designated by Party A leave Party A, regardless of whether they resign or are dismissed by Party A, such persons shall lose the qualification of being in charge of any post of Party B.
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Under such circumstances, Party B and Party C shall appoint other senior management personnel designated by Party A to assume such posts.
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5.                   Party C hereby agrees that they shall, concurrently with the execution this Agreement, execute a corresponding Shareholders’ Proxy Agreement under which Party C shall authorize and entrust Party A or a person designated by Party A to exercise any and all shareholders’ rights of Party C to vote pursuant to provisions of laws and Party B’s Articles of Association.
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6.                   Party B and its shareholder, Party C, hereby agree and confirm that, apart from the agreed provisions in Article 1 herein, if Party B is in need of any other guaranty for Party B’s performance or security for borrowing to finance its working capital, it shall first seek guaranty or security from Party A. Under such circumstances, Party A is entitled to decide whether to furnish proper guaranty or security for Party B based on Party A’s own judgment. If Party A decides not to furnish such guaranty or security for Party B, it shall notify Party B in writing in time, and thereafter, Party B can seek guaranty or security from any Third Party. Party A hereby agrees and confirms that in the event of serious losses in Party B’s business and operations, Party A is obliged to provide appropriate financial support or other forms of financial assistance at reasonable request of Party B. The specific form and plan of assistance shall be determined by negotiation between Party A and Party B according to the specific at-then circumstances of Party B.
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7.                   In case of the termination or expiry of any agreement between Party A and Party B, Party A is entitled, but not obligated, to terminate all agreements between Party A and Party B, including but not limited to the Exclusive Technical Consultancy and Services Agreement.
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8.                   Amendments and supplements to this Agreement shall be made in writing. Such amendments and supplements properly signed by the Parties shall constitute an integral part of this Agreement with the same validity.
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9.                   This Agreement shall be governed by and interpreted in accordance with the PRC law. The PRC law referred to herein does not include the laws of Taiwan, the Hong Kong Special Administration Region or the Macau Special Administration Region.
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10.            Dispute Settlement
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Any dispute arising from the interpretation of or the performance of the terms and conditions hereunder shall be settled through bona fide negotiations. If such dispute cannot be so settled, it may be submitted by any Party to the China International Economic and Trade Arbitration Commission and arbitrated in Beijing, China pursuant to the current arbitration rules. The language for arbitration will be Chinese. The arbitration award shall be accepted as final and binding upon the Parties.
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11.            Notice
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Any notice or other communication sent by any Party shall be written in Chinese, and sent by mail or facsimile transmission to the addresses of the other Parties set forth below or to other designated addresses previously notified by any such other Party. If any Party changes its address, it shall notify the other Parties of such change in a timely and effective manner. The dates on which such notices are deemed to have been effectively given shall be determined as follows:
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(A)            Notices given by personal delivery shall be deemed effectively given on the date of personal delivery;
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(B)            Notices sent by registered airmail (postage prepaid) shall be deemed effectively given on the seventh (7th) day after the date on which they were mailed (as indicated by the postmark), or notices sent by a courier recognized by the Parties shall be deemed effectively given on the third (3rd) day after they were sent to such courier service agency; and
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(C)            Notices sent by facsimile transmission shall be deemed effectively given on the first (1st) business day following the date of transmission, as indicated on the document.
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Party A: Beijing Zhong Zhi Shi Zheng Data Information Technology Co., Ltd.
Address: Room 208A, 2nd Floor, Building No. 14, South District of No. 46 Zhongguancun South Street, Haidian District, Beijing
Fax: [REDACTED]
Tel: [REDACTED]
Attention: Yu Huang
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Party B: Beijing Zhong Zhi Information Technology Academy
Address: Room 1208, 12th Floor, Building 2, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing
Fax: [REDACTED]
Tel: [REDACTED]
Attention: Yu Huang
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Party C: Jianning Dai
Address: Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing
Fax: [REDACTED]
Tel: [REDACTED]
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12.            This Agreement shall come into force upon signature by authorized representatives of the Parties hereof on the date contained at the beginning. This Agreement shall remain valid for ten (10) years unless it is terminated in advance pursuant to the terms and conditions hereunder. Party B and Party C hereby agree that the term of this Agreement, upon Party A’s confirmation before termination, can be extended to a date designated in Party A’s written confirmation.
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13.            This Agreement shall be terminated on the expiry date unless validity of the terms and conditions concerned herein is extended. During the term, Party B and Party C shall not terminate this
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Agreement. Notwithstanding the above, Party A can terminate this Agreement at any time by notifying Party B and Party C in writing thirty (30) days in advance.
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14.            This Agreement shall be binding upon each Party’s successors and transferees permitted under this Agreement in the same effect as if they were contracting parties to this Agreement.
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[Signature Page to Operating Agreement]
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	Party A (Seal): Beijing Zhong Zhi Shi Zheng Data Information Technology Co., Ltd.

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	Legal representative or authorized agent
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	(Signature):
	/s/ Yu Huang
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	Party B (Seal): Beijing Zhong Zhi Information Technology Academy

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	Legal representative or authorized agent
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	(Signature):
	/s/ Yu Huang
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	Party C: Jianning Dai

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	Signature:
	/s/ Jianning Dai
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