Document:

Exhibit 10.3

The Assets
Income Right Transfer and Repurchase Contract

 

Contract No.:22B1191800318001

 

Party A: Dongguan Trust
Co., Ltd (represents the “Dongguan Trust·Taixin-Kingold Jewelry Assembled Fund Trust Plan”)

 

Legal representative:
Huang Xiaowen

 

Adress:No.2 Building,
Innovation Park, High-Tech Industrial Development Zone Of Songshan, Dongguan City. Zip code:523808

 

Contact person: Liu
Xiaomeng

 

	 	Tel:     18565638063           	E-Mail:  liuxm@dgxt.com              

 

Party B: Wuhan Kingold
Jewelry Co., Ltd

 

License number: 914201007414027360

Legal representative:
Zhihong Jia

Address: No. 15 (special),
Huangpu Science Park, Jiang’an District Zip code: 430023

Contact person:Hu Qiao

 

	 	Tel:   13317109760   	E-Mail:     445747508@qq.com                    

 

Whereas:

 

Party A is the trustee
of “Dongguan Trust·Taixin-Kingold Jewelry Assembled Fund Trust Plan” (hereinafter referred to as the “Trust
Plan”), and party A purchases the Assets Income Right of Au9999 standard gold (no less than 4 tons)from Shanghai Gold Exchange(“SGE”)
held by Party B with trust fund of the Trust Plan. And Party B shall repurchase the above Assets Income Right by the time price
according to the agreement of both parties.

 

According to The Contract
Law of the People’s Republic of China and other laws and regulations, based on the principles of good faith and justice and
through friendly consultation, both sides reach this contract to comply regarding the transfer and repurchase of the Object Assets
Income Right.

  

    			 

     

    

 

Article 1 Transfer
Object

 

1       The
transfer object under this contract is the Assets Income Right of no less than 4 tons of Au9999 standard gold from Shanghai
Gold Exchange held by Party B.

 

2       Assets
Income Right shall include:

 

(1) The income
gained by object assets disposal;

 

(2) Other income
generated by the object assets.

 

Article 2 Transfer
Price and Payment

 

1       Both
parties agree that the transfer price of the Object Assets Income Right is no less than RMB 10 million yuan and is no more than
RMB 1000 million yuan.

 

2       The
transfer price shall be paid by the trust fund under Trust Plan and the actual amount shall be subject to the amount of raised
trust fund in every period of Trust Plan. On receiving every transfer payment, Party B shall submit payment confirmation to Party
A.

 

3       Party
A agrees to pay transfer price in lump sum or in installments after the establishment of Trust Plan and the guarantee, which is
promised by Party B, is implemented.

 

Account name:  Wuhan
Kingold Jewelry Co., Ltd 

 

Account number: 630202248

 

Bank:  China Minsheng
Bank, Wuhan branch, Binjiang sub-branch 

 

Party A shall be deemed
to perform duty after paying the transfer price to the above account of Party B. If any change occurs on the above account, party
B shall give written notice to Party A on the date of change, otherwise any responsibilities arising from that shall be taken by
Party B.

 

4       After
the date that Party A signed this contract and pays the first transfer payment, Party A obtains all the Object Assets Income Right
since this date. Since this delivery date, Party B shall deposit all interests and other earnings of Object Assets in the special
trust account in 2 work days.

 

Article 3 Assets
Income Right Repurchase

 

1       After
transferring the Assets Income Right to Party A, Party B promises to repurchase the Assets Income Right in the agreed period since
the establishment of trust plan. After Party B completed the payment, Party B shall be deemed to complete the repurchase of the
Assets Income Right, and the Assets Income Right is owned by Party B.

 

    			 

     

    

 

2       Repurchase
payment price consists two parts: Base repurchase price and repurchase premium

 

(1) base
repurchase price: Base repurchase price equals the transfer price stipulated in article 2 of this contract.

 

Party B shall pay off
all base repurchase price to Party A in 18 months since the establishment of the Trust Plan. And on completion of base repurchase
price payment, Party B shall settle the unsettled payable repurchase premium. If Party B needs to pay base repurchase price in
advance, it shall deliver written application to Party A, and shall implement it with agreement of Party A.

 

(2) repurchase
premium: Before the settlement of base repurchase price, party b shall pay repurchase premium, repurchase premium is
calculated according to the following items:

 

�The
first premium: Party B should pay a first premium, 1.5 % of the transfer price, to the trust plan. The first premium= unsettled
base repurchase price

 

‚Duration
premium: Party B shall pay current duration premium according to the annual rate of repurchase premium in the chart agreed below
before 21st (included) of every month and the last base repurchase price due date.

 

	starting date	annual rate of repurchase

 premium
	due date of the first transfer price	  11  %

 

Calculation formula
is as below:

 

current duration premium=
unsettled base repurchase price×days in this accounting period×annual rate of repurchase premium/360

 

Days in this accounting
period refers to the days from 21st of previous month to the 20th (included) of current month. And days in
last accounting period refers to the days from 21st of previous month to the day (not included) of the settlement of
all base repurchase prices.

 

Repurchase premium due
date and repurchase due date should not be moved backward when meet with statutory holiday. Party b shall transfer money to the
special account in the nearest workday.

 

If party b does not
transfer payment within due date, the penalty shall be counted from repurchase premium due date or repurchase due date and in accordance
with the articles stipulated in this contract.

 

3       Party
b shall pay the repurchase price by transferring money to the special account appointed by Party A(Account Name: Dongguan
Trust Co., Ltd (Taixinkingold), Account Number: 8114801412800237721, Bank: China Citic Bank, Dongguan Branch Business
Department)

 

    			 

     

    

 

4       When
Party B is paying the repurchase price, all interests and other earnings produced by Object Assets that has been transferred to
special account shall be deduction to the repurchase price.

 

Article 4 Trust
Protection Fund

 

1       According
to relevant stipulations in Measures for the Administration of Protection funds in the Trust Industry, Party B shall subscribe
trust protection funds at the price of 1% of base repurchase price. Every time when Party A pays the transfer amount, it will send
trust protection fund subscription notice and confirm the subscription amount to Party B. Party B shall transfer subscription amount
to the special account Party A designated within 10days since Party A pays transfer amount, and Party A shall subscribe the protection
fund on its behalf.

 

2       When
Party B partially pays base repurchase amount, Party A shall return pro rata protection fund subscription money within 10 business
days. When Party B entirely pays base repurchase amount, Party A shall return all remaining protection fund subscription money
and its earnings within 10 business days

 

3       If
Party B’s subscription amount is overdue, Party B shall pay overdue fine at 0.05% of subscription amount per day since the
date of overdue.

 

4       If
Party B fails to pay repurchase amount timely, Party A shall be entitled to settle with the subscription money and its earnings
in protection fund returned by Party B.

 

Article 5 Documents
Submission

 

Party B shall submit
necessary documents and materials in accordance with Party A’s requirements, including but not limited to original pieces
or copies of relevant materials on object assets owned by Party B, including but not limited to journal account of capital, value
added tax invoice, delivery note, list of outgoing items. The documents and materials that Party B submits to Party A are all deemed
as effective attachment to this contract.

 

Article 6 tax payment

 

The taxes produced in
the process of the exercise of rights or obligations under the contract shall be paid by each party respectively

 

    			 

     

    

 

Article 7 Representations
and Warranties of Party B

 

Follows are the representation
and warranties of Party B:

 

1       After
this contract is signed, it will constitute the legal, valid and binding obligation to it.

 

2       Party
B is the entire, effective and legal owner of the object assets, and is entitled to transfer the assets income right of the object
assets to Party A. Party A shall not meet any legal or actual impediment.

 

3       Party
B guarantees that there are no any other priority rights or third part rights except for additional articles in this contract.

 

4       After
this contract is signed, without Party A’s written permission, Party B shall not dispose object assets in any form, and there
shall be no priory right and other third party power on the object assets in any form.

 

5       Relevant
materials offered by Kingold Jewelry to Party A are true, effective, complete and there is no material omission or concealment.

 

6       The
transfer and repurchase of assets income right are equipped with necessary authorization and permission, and are within Party B’s
authority and are obedient with relevant laws.

 

Article 8 Representations
and Warranties of Party A

 

Follows are the representation
and warranties of Party A

 

1       An
enterprise as a legal person, which forms legally according to the Law of the PRC and validly exists, and guarantees that it operates
legally

 

2       It
is complied with relevant trust stipulations to purchase assets income right by trust fund and the purchase is nit obedient with
compulsory stipulations in laws and administrations.

 

3       Relevant
materials offered Party B are true, effective, and complete and there is no material omission or concealment.

 

4       After
this contract is signed, it will constitute the legal, valid and binding obligation to it.

 

5       To
pay the transfer price to Party B according to this contract.

 

Article 9 Contract
Entry into Force

 

1       The
Contract should come into effect since being signed (or stamped) by the legal representatives/responsible persons of both parties
and stamped with the corresponding official seal (or special seal for contract).

 

    			 

     

    

 

2       The
Contract should be terminated if the trust plan fails to establish or party b’s promised guarantees are not implemented in
60days since the date that the contract is signed.

 

Article 10 Special
Agreement

 

1       After
coming into force of this contract, Party A is empowered to learn about Party B’s management, financial activities, major
transactions, and Party A is not entitled to intervene Party B’s management.

 

2       After
this contract becomes effective, if one of the following credit risks happens, Party B shall inform Party A in written form within
five business days after knowing this situation. Effects, possible effects on Party B , and remedial measures which has taken or
are going to take, deadline of remedy and expected effects should be listed carefully in the written notice.

 

(1) The operating
status of Party B deteriorates.

 

(2) Party B has
lost the business reputation.

 

(3) Significant
suit or arbitration cases happen which affect or may affect interests of Party B and make the operating status of Party B
deteriorate.

 

(4) Events happen
in Party B, which may have material adverse effect on Party B’s business, capital and property status.

 

(5) Other items
that have material adverse influences on Party B when it performs this contract’s obligation.

 

Article 11 Notification

 

1       Unless
there are other provisions in the contract, otherwise, all notices between the two parties under the terms of the contract shall
be in written form, which can be delivered by people, registered letters, express mail service, and fax can be as an auxiliary
way, however, it must have a supplementary delivery according to the agreed ways in the contract.

 

2       The
notices delivered by registered letter (postage paid) are effective delivery on the third day after they are delivered (as indicated
by the postmark). The notices issued by express mail service (postage paid) are effective delivery in the being delivered (as indicated
by the postmark).

 

3       The
delivery and notification articles in this contract and dispute settlement articles are independent articles, not involved in the
effectiveness of the whole contract or other articles in the contract.

 

    			 

     

    

 

Article 12 Confidentiality

 

Each party should maintain
confidentiality about this contract and matters related with this contract. If there are no written permissions of the other party,
any matters related with this contract cannot be disclosed to a third party, except the disclosures because of following reasons:

 

1       Party
A performs the obligation of disclosing information ruled by the laws and regulations or trust documents and discloses information
to clients and beneficiaries.

 

2       Disclose
information to auditors, lawyers and other working staff, who are authorized in the normal business, with the precondition that
these people should perform the obligation of maintaining confidentiality to the information related with this contract in their
work.

 

3       The
data and documents can be gained publicly or the disclosure of this data is required by laws and regulations.

 

4       Disclosing
information to court, arbitration institution, or the disclosure related with this contract is required by the disclosure procedures
before lawsuit or the similar procedures, or the law procedure requires information to be disclosed.

 

5       According
to the requirement of financial regulator, Party A discloses information to the financial regulator.

 

Rules of this article
are still valid after the termination of contract.

 

Article 13 Force
Majeure

 

1       The
force majeure referred in this contract, means earthquake, flood, war, governmental behaviors and other events which cannot be
foreseen, whose results can’t be prevented or avoided reasonably.

 

2       If
one party of this contract cannot perform this contract completely or partly, this party shall inform the other party within 5
business days after the happening of the force majeure; And offer the detail situation of the event within 15 business days and
the documentations offered by the relevant competent authorities, functional departments, or notary public which proves that this
contract cannot be performed completely or partly.

 

    			 

     

    

 

3       If
one party cannot perform this contract completely or partly because of force majeure, this party is not responsible for breaking
the contract, but this party shall take the necessary and proper measures to relieve losses which may bring to the other party.

 

4       If
force majeure happens, both parties shall decide in negotiation on the change or termination of this contract by the judging the
influence on execution this contract.

 

Article 14 Amendment
and Supplement to the Contract

 

1       The
agreed content in this contract can be changed after negotiating of two parties.

 

2       On
the matters not being specified in this contract, two parties can sign supplement to the contract.

 

3       The
contents which have changed in this contract or supplement contract have the same legal effect with this contract. If there are
conflicts between the content after the change or supplement contract and this contract, the content after the change or supplement
contract prevails.

 

Article 15 Default
Liability

 

1       Any
party that breaches the contract or its representations and warranties shall bear the corresponding liability for breach of contract
and compensate for all the loss of the observant party because of its default.

 

2       If
Party A does not make transfer payment to Party B as agreed in contract, Party B is entitled to end the contract and Party B shall
not transfer assets income right to Party A, and shall return the paid transfer payment as Party A required.

 

3       Party
A is entitled to charge default fines on Party B if Party B fails to make repurchase payment premium or base repurchase payment
in time as this contract agreed; Default fine is 0.5‰ of overdue repurchase price per day.

 

4       If
any default below occurs, Party A shall end this contract and require that Party B should make repurchase payment in advance and
claim compensation from guarantor or dispose guarantees.

 

(1) Party B delays
or fails to make the repurchase payment;

 

(2) Party B fails
to offer guarantee as agreed in this contract or relevant guarantee contract is not performed.

 

(3) Party B fails
to fulfill its commitment to Party A or breach relevant agreement signed with Party A.

 

    			 

     

    

 

(4) Situations
happens that Party A is well grounded to regard it may influence Party B’s assets income right repurchase.

 

Article 16 Dispute
Resolution

 

All disputes arising
from this contract shall be settled through friendly negotiation. In case no settlement can be reached through negotiation, they
shall bring proceedings to the local People's Courts with the jurisdiction where Party A is located.

 

Article 17 Others

 

1       In
case any article of this contract is invalid for any reason, the invalidity of this article does affect the validity of other articles
of this contract, so both parties shall continue to execute the other articles of this contract.

 

2       Party
A has reminds Party B appropriately on articles about its liability exemptions or limitations; and has detailed explanation on
articles that Party B requested. Both parties show consensus on the understanding of this contract.

 

3       The
contract is in quadruplicate. Party A holds two copies while Party B holds one copy, and relevant administration holds one copy.
All copies are with equal legal effect.

 

Article 18 Miscellaneous

 

1       In
the duration of this trust plan, when gold price (closing price of Au9999 in afternoon hours in Shanghai Gold Exchange in last
transaction day) changes and it causes the pledge rate to be higher than [0.85],it is hit alarming line. And Party B shall pay
cash in corresponding amount to the pledgee within 3 working days so that the pledge rate will decrease to [0.75]. When gold price
(closing price of Au9999 in afternoon hours in Shanghai Gold Exchange in last transaction day) changes and it causes the pledge
rate to be higher than [0.90], it is hit close position. In this situation, if Party B does not supplement corresponding gold or
cash to make the pledge rate to decrease to 70%, Party A has right to dispose directly the pledged gold, Party B shall cooperate
to do corresponding work.

 

2       Party
B commits that it or a third party it appointed shall offer guarantee for Party A and guarantee the obligations of Party B under
this contract, such as repurchase payment and etc. 

 

    			 

     

    

 

	Guarantees	Name Of Guarantee

 contracts	Contract Number
	Wuhan Kingold Jewelry Co., 

Ltd	Pledge Contract	22B1491800318001
	Wuhan Kingold Industrial 

Group Co., Ltd	Guaranty Contract	22B1391800318001
	Jia Zhihong	Guaranty Contract	22A1391800318002

 

3       Notarization: (1) Party
A and Party B confirm that, after signing the Contract, both parties will transact compulsory notarization of the Contract
and relevant fees would be borne by Party B(2) Party B hereby commits that if it fails to fulfill or incompletely fulfills
any of its obligations under the Contract, it is willing to receive judiciary compulsory execution, without any judicial
proceeding. Party A can directly apply for compulsory execution to people’s court with jurisdiction. Party B waives
right of defense for such application.(3) This Article has priority to the Article Dispute Resolution in this
contract. 

 

4       Property
insurance for object assets: (1) After signing this contract, the two parties should purchase property insurance for object assets
at People’s Insurance Company of China for the quality and weight. All the insurance costs produced in insurance shall be
borne by Party B. Where Party B violates the provisions of the contract, Party A shall have the right to apply for compulsory enforcement
to the People’s Court with jurisdiction for directly disposing the pledged object. 

 

(The reminder of this
page is intentionally left blank)

 

    			 

     

    

 

 

Party A: Dongguan
Trust Co.,Ltd (Official Seal)

 

Legal representative
or authorized agent:

 

Party B: Wuhan
Kingold Jewelry Co., Ltd. (Official Seal)

 

Legal representative
or authorized agent:

 

	 	Signing date:	Contract signed inExhibit
10.4

 

Contract
No.:2018-jh-01

 

Loan Contract by and between AVIC Capital

Investment Management (Shenzhen) Co., Ltd and

Wuhan Kingold Jewelry Inc

 

Date

 

    	 	1	 

     

    

 

Table of
Contents

 

	Article I Definition	3
	Article II Loan Amount	5
	Article III Intended Use of Loan and Supervision	5
	Article IV Loan Term	5
	Article V Interest Rate, Arrangement Fee, Interest Accrual, Interest Settlement, Interest Payment and Default Interest	5
	Article VI Loan Issuance	7
	Article VII Repayment	8
	Article VIII Loan guarantee	9
	Article IX Party A’s Rights and Obligations, Statement and Promise	10
	Article X Party B’s Rights and Obligations, Statement and Promise	11
	Article XI Default Responsibility	15
	Article XII Contract Alteration and Termination	18
	Article XIII Applicable Laws and Dispute Solution	19
	Article XIV Notification and Delivery	19
	Article XV Other Issues	21

 

    	 	2	 

     

    

 

Loan Contract

 

The Loaner (Party A): AVIC Capital Investment
Management (Shenzhen) Co., Ltd

Residence: Room 201, Building A, 1# First
Qianwan Road, Qianhai Hong Kong - Shenzhen Cooperation Zone, Shenzhen City

Business Address: 3906# Times Square Excellence,
Futian Centre, Shenzhen City

Post Code: 518017

Legal Representative: Cai Mingsheng

 

The Borrower (Party B): Wuhan Kingold Jewelry
Inc.

Residence: 15# Huangpu Science and Technology
Park, Jiang’an District, Wuhan City

Post Code: 430023

Legal Representative (Responsible Person):
Jia Zhihong

Fax: 027-65694977

Telephone: 027-65694977

 

Whereas:

 

Party A is a limited
liability company validly existing and established under the laws, and Party B is an incorporated company validly existing and
established under the laws; both parties hereto conclude and sign the Contract for mutual compliance and execution through negotiation
according to relevant laws and regulations.

 

Article I Definition

 

Unless otherwise specified
in the Contract or explained in the context, the terms and definitions in the Contract should have the same implications as those
in other documents concerned.

 

1.1 The Contract: it
refers to the Loan Contract (Contract No.: 2018-jh-01) concluded and signed between Party A and Party B as well as any valid
revision and supplementation concerned.

 

    	 	3	 

     

    

 

1.2 Loan issuance date:
It refers to 6th September 2018. Party A issued a 290 million RMB loan to Party B in 7th September 2016 and
as agreed in Contract No.:2016-jh-01 between Party A and Party B, signed in 30th August 2016, Party B shall repay the principal
and unpaid interest. When loan contract numbered 2016-jh-01 is expired, Party A shall not withdraw the loan principal, and this
amount shall be deemed as loan issuance under this contract.

 

1.4 Interest settlement
date: it refers to March 15, June 15, September 15, December 15 of each civil year and the loan expiry date. The interest settlement
date should not be postponed.

 

1.5 Interest payment
date: it refers to each interest settlement date, and in case the interest settlement date is a non-working day, the interest payment
date should be postponed to the next working day.

 

1.6 Month: for each
loan, it refers to the loan month calculated from the loan issuance date or the date corresponding to the monthly loan issuance
date (including the current date; if no corresponding date in this month, it refers to the last day of current month) to the date
corresponding to the loan issuance date of the next month (including the current date; if no corresponding date in this month,
it refers to the last day of current month). The specific start date should be consistent with the date indicated in the Loan
Receipt corresponding to the loan.

 

1.7 Year: for each
loan, it refers to a loan year when the loan is issued for twelve months since the loan issuance.

 

1.8 Pledgor: it refers
to Wuhan Kingold Jewelry Co., Ltd

 

1.9 Gold pledge contract:
it refers to the Gold Pledge Contract (Contract No.:2018-jh-02 ) concluded and signed between Party A and the pledgor.

 

1.10 Chattel mortgage
contract: it refers to the Chattel mortgage contract (Contract No.:2018-jh-03 ) concluded and signed between Party A and the pledgor.

 

1.11 Yuan: it refers
to RMB.

 

    	 	4	 

     

    

 

1.12 China: it refers
to the People’s Republic of China (excluding Hong Kong Special Administrative Region, Macao Special Administrative Region
and Taiwan Region).

 

Article II Loan Amount

 

The total amount of
the loan under the Contract is RMB TWO HUNDRED AND NINETY MILLION ONLY (¥290,000,000.00).

 

Article III Intended Use of Loan and
Supervision

 

3.1 The loan under
the Contract should be used for supplementing the circulating fund of Party B.

 

Party B should strictly
utilize the loan under the Contract as specified, and should not change the intended use of the loan without obtaining the written
consent from Party A in advance. Moreover, Party B should not utilize the loan for fixed asset investment, equity investment, securities
investment, land banking, real estate development, etc., or for other projects violating national laws & regulations and policies.

 

Article IV Loan Term

 

4.1 corresponding loan
term should be EIGHTEEN months since 6th September 2018.

 

4.2 In case of any
condition agreed in the Contract, Party A has the right to announce the accelerated expiry of all or part of the loans.

 

Article V Interest Rate, Arrangement
Fee, Interest Accrual, Interest Settlement, Interest Payment and Default Interest

 

5.1 Borrowing rate

 

The borrowing rate
under the Contract is the annual interest rate, namely 10%/year.

 

    	 	5	 

     

    

 

5.2 Arrangement fee

 

The arrangement fee
under the Contract is 3% of the total amount of the loan, and should be paid by Party B to Party A within one month since the initial
loan issuance date.

 

5.3 Interest accrual

 

The loan interest should
be calculated since the loan issuance date according to the actual amount and the actual loan days. The interest of the loan under
the Contract should be daily calculated: daily interest rate = monthly interest rate/30 = annual interest rate/360. Daily interest
payable of Party B = current loan balance x [7.5%]/360.

 

5.4 Interest settlement

 

The loan interest for
the period from the loan issuance date (including) or the previous interest settlement date (including) to current interest settlement
date (excluding) should be calculated on the corresponding interest settlement date under the Contract, and the last interest settlement
date of the loan under the Contract should be the principal repayment date of the loan under the Contract, and both the principal
and the interests accrued should be paid off on that day.

 

5.5 Interest payment

 

Party B should pay
the corresponding loan interest as scheduled at a full amount on each interest payment date. In case of installment loan issuance,
the corresponding interest should be independently calculated and paid for each loan as follows:

 

The interest payable
of Party B on each interest payment date in the first year of the loan issuance = ∑ daily loan balance during the period from
the loan issuance date (including) or the previous interest settlement date (including) to current interest settlement date (excluding)
×[10]%/360; The interest payable of Party B on each interest payment date in the second year of the loan issuance = ∑
daily loan balance during the period from the loan issuance date (including) or the previous interest settlement date (including)
to current interest settlement date (excluding) ×[10]%/360

 

    	 	6	 

     

    

 

5.6 Default interest

 

(1) In case Party B
fails to utilize the loan as agreed, for the part of the loan, not utilized as agreed in the Contract, the interests accrued should
be collected at double original interest rate since the date of loan utilization change.

 

(2) In case Party B
fails to repay the loan as scheduled, for the unpaid loan, the interests accrued should be daily collected at the interest rate
of 1‰. In case the interests accrued are not paid as scheduled, the compound interests should be collected according to
above default interest rate.

 

(3) The original interest
rate refers to the applicable interest rate before the loan expiry date (including the accelerated expiry date or the extended
expiry date).

 

(4) In case the loan
is overdue and is not utilized as agreed in the Contract, the higher default interest rate should be taken to calculate the interests
accrued.

 

Article VI Loan Issuance

 

6.1 Only when the following
conditions can be met and when loan contract numbered 2016-jh-01 is expired, Party A has the obligation not to withdraw the loan
principal, and it shall be deemed as issuance of loan under this contract:

 

(1) Party B and other
parties concerned should have provided their necessary and legally valid internal and/or external approval and authorization documents
for relevant issues according to validly existing laws & regulations, articles of incorporation or other organization documents;

 

(2) Such transaction
documents as the Contract, the Gold Pledge Contract and the Guaranty Contract should have been signed and come into
effect;

 

(3) The notarial procedure
for the compulsory execution of the Contract, the Gold Pledge Contract and the Guaranty Contract should have been
completely handled;

 

(4) The pledge registration
procedure should have been completely handled, and the pledged gold should have been sealed and stored in the safe deposit box
of a local bank in Wuhan;

 

    	 	7	 

     

    

 

(5) All pledged objects
should have been insured to the People’s Insurance Company of China (PICC), and PICC should have issued the insurance contract
in which Party A is the first beneficiary;

 

(6) As of the loan
issuance date, any statement and guarantee made by Party B should be truthful, accurate and valid, and the financial condition
of Party B should be basically as the same as that at the contract signing, without any significant adverse change;

 

(7) As of the loan
issuance date, the loan issued by Party A to Party B according to the Contract should not violate any laws & regulations or
any stipulation of the supervision department;

 

(8) The business condition
of Party B (including but not limited to the financial condition) should not have any substantial change which may bring significant
adverse influence on the transactions under the Contract;

 

(9) The loan under
the Contract should not be prohibited or restricted by any law, regulation, rule or other normative document, or any supervision
organization;

 

(10) Other conditions
required by Party A.

 

6.2 Party A should,
within [three] days after all preconditions specified in Article 6.1 are met (except that one or more preconditions are clearly
exempted by Party A), issue the loan to the following account of Party B:

Deposit Bank:

Bank Account:

Account Name: Wuhan
Kingold Jewelry Inc.

 

Article VII Repayment

 

7.1 Repayment principle

 

Any repayment from
Party B under the Contract should be firstly for the interest accrued and then for the principal, but Party A has the right to
use the repayment from Party B to pay various expenses that should be borne by Party B but is paid by Party A therefor and the
expense for realizing the creditor’s right of Party A.

 

    	 	8	 

     

    

 

In case the repayment
from Party B is not enough to settle the due payable for Party A under the Contract (including but not limited to loan principal,
interest, default interest, compound interest, default penalty, damage compensation, expense for realizing the creditor’s
rights of Party A and other accrual expenses), Party A has the right to determine the repayment sequence of loan principal, interest,
etc.

 

7.2 Principal and interest
repayment

 

Party B should pay
the due interest to Party A on each interest payment date as agreed in Article 5.4 of the Contract, and the last interest payment
date should be the principal repayment date of the loan under the Contract, and the principal and the interests accrued should
be paid off on that day.

 

7.3 Prepayment

 

(1) Party B may, after
each loan is issued for twelve months, request for the prepayment of the loan concerned, but must apply to Party A in a written
form at least [sixty] days in advance.

 

(2) The interest rate
agreed in the Contract should not be changed, regardless of the prepayment of Party B.

 

(3) The interest for
the prepayment of Party B should be collected as agreed in the Contract. In case the loan term in current month is less than thirty
days, the interest accrued should be also calculated according to thirty days; in case the loan term in current month is more than
thirty days (including), the interest accrued should be calculated according to the actual borrowing days.

 

(4) In case of prepayment,
Party B must once pay off the loan principal and interest.

 

Article VIII Loan guarantee

 

8.1 Party B should
provide the following guarantees for all debts under the Contract (including but not limited to loan principal, interest, default
interest, compound interest, default penalty, damage compensation, all expenses for the realization of the creditor’s rights
of the lender and other expenses payable):

 

    	 	9	 

     

    

 

(1) Pledge: Party B
should provide legally owned gold with the content not less than 99.99% as the pledge guarantee to Party A. Please refer to the
Gold Pledge Contract for the specific information.

 

(2) Guarantee: the
actual controller — Jia Zhihong of Party B should provide guarantee for all debts under the Contract. Please refer to the
Guaranty Contract for the specific information.

 

Article IX Party A’s Rights
and Obligations, Statement and Promise

 

9.1 Party A’s
rights

 

(1) Party A has the
right to collect loan principal and other funds incurred from Party B;

 

(2) Party A has the
right to request Party B to provide the latest financial statement audited by an accounting firm and all information regarding
the loan under the Contract;

 

(3) Party A has the
right to know the production & operation and financial activities of Party B;

 

(4) Party A has the
right to report Party B’s default behaviors, including avoidance of Party A’s supervision, principal and interest arrears
and other default behaviors, to relevant department or unit;

 

(5) Party A has the
right to personally implement the after-loan management for the loan issued thereby or employ the third party to do the same, including
but not limited to the acquaintance and the field inspection of Party B’s production & operation and financial activities,
loan utilization, funds or other matters agreed in the Loan Contract;

 

(6) In case Party B
fails to repay the loan principal and interest as scheduled at a full amount, Party A or the third party employed thereby has the
right to take collection actions (including but not limited to short message, email, telephone, etc.), and all expenses incurred
by the collection, including but not limited to express fee, counsel fee, travel expense, etc., should be borne by Party B;

 

    	 	10	 

     

    

 

(7) In case the condition
specified in Article XI of the Contract occurs and Party A believes that the creditor’s rights thereof under the Contract
may be endangered or Party B violates the Contract, Party A has the right to announce the immediate expiry of all loans under the
Contract and request Party B to immediately repay all outstanding principals and interests;

 

(8) Other rights that
Party A should entitle according to laws & regulations and the Contract.

 

9.2 Party A’s
obligations

 

(1) Party A should
issue the loans as agreed in the Contract, except the delay caused by Party B or other reasons not attributed to Party A;

 

(2) Party A should
have the confidentiality responsibility for relevant financial information and production & operation business secrets provided
by Party B, except that such information should be disclosed as required by laws & regulations and the supervision department
or the administrative department, or is disclosed to the intermediary organ employed thereby.

 

9.3 Party A’s
statement and promise

 

Party A states and
promises as follows:

 

(1) Party A is a limited
liability company validly existing and established under laws, and has the subject qualification for signing the Contract;

 

(2) Party A signs and
performs the Contract for the truthful intentions thereof, and has obtained all necessary legal authorizations, and completely
handled all legal procedures for signing and performing the Contract;

 

(3) Party A will issue
the loan to Party B as agreed, and the contract signing and performance will not violate any obligation under the Loan Contract.

 

Article X Party B’s Rights and
Obligations, Statement and Promise

 

10.1 Party B’s
rights

 

(1) Party B has the
right to withdraw and utilize the loan according to the loan term and the intended use agreed in the Contract;

 

    	 	11	 

     

    

 

(2) Party B has the
right to request Party A to bear the confidentiality responsibility for relevant financial information and business secrets regarding
production & operation, except that such information should be disclosed according to laws & regulations, rules and the
Contract.

 

10.2 Party B’s
obligation

 

(1) Party B should
withdraw the loans as agreed in the Contract;

 

(2) Party B should,
as required by Party A, provide relevant financial accounting information and production & operation information to Party A,
including but not limited to balance sheet, profit and loss statement, cash flow statement, loan utilization, and should be responsible
for the authenticity, legality, completeness and validity of the information provided thereby;

 

(3) Party B should
utilize the loans as agreed in the Contract, and should not occupy or embezzle for other purposes or utilize for the projects violating
national laws & regulations and policies;

 

(4) Party B should
positively cooperate for and conscientiously accept the inspection and supervision from Party A or the third party employed thereby,
upon the production & operation and financial activities and the utilization of the loans under the Contract;

 

(5) Party B should
pay the loan principal and interest and other payables as agreed in the Contract;

 

(6) Party B should
bear the expenses of relevant insurance under the Contract;

 

(7) Party B and the
investors thereof should not secretly withdraw the funds or transfer assets to avoid the debts owed to Party A;

 

(8) In case of transferring
all or part of the debts under the Contract to the third party, Party B should obtain the corresponding consent from Party A in
advance;

 

(9) In case of changing
name, legal representative (responsible person), residence, business scope, registered capital, etc. within the contract term,
Party B should inform Party A in a written form within ten days after occurrence;

 

    	 	12	 

     

    

 

(10) In case of involving
in insurance acceptance, rent, shareholding reform, joint operation, consolidation, merge, separation, joint venture, capital reduction,
stock right transfer, major assets transfer and other behaviors which are sufficient to influence the realization of the creditor’s
rights of Party A within the contract term, Party B should inform Party A in a written form at least thirty days in advance and
obtain the corresponding consent, and should pay off and guarantee the debts under the Contract; or else, the above behaviors should
not be allowed before all debts are paid off for Party A;

 

(11) In case
Party B suffers from business suspension, bankruptcy, dismission, rectification, business license cancellation or revoking,
etc. within the contract term, the Contract should be deemed to be expired. Party B should inform Party A in a written form
within three days after occurrence and immediately repay the loan principal and interest;

 

(12) In case Party
B involves in the events that may threaten the normal operation thereof or bring significant adverse influence on the performance
of the repayment obligation under the Contract, including but not limited to major economic dispute, litigation, financial condition
deterioration, production & operation difficulty, bankruptcy, dismission, business suspension for rectification, business license
cancellation or revoking, etc. within the contract term, Party B should inform Party A in a written form within three days after
occurrence, and should pay off and guarantee the debts under the Contract as required by Party A;

 

(13) Party B should
guarantee various guarantors (if any) to cooperate with Party A for concluding and signing various guaranty contracts (if any)
and handle relevant notarization and registration procedures, etc;

 

(14) In case any guarantor
under the Contract involves in production suspension, business suspension, registration cancellation, business license revoking,
bankruptcy, etc., or completely or partially loses the guarantee capability for the loan concerned, Party B should timely provide
other guarantees accepted by Party A;

 

(15) Within the contract
term, Party B should not provide dividends to the shareholders;

 

    	 	13	 

     

    

 

(16) Party B should
bear all responsibilities for the losses caused thereby to Party A.

 

10.3 Party B’s
statement and promise

 

Party B states and
promises to Party A as follows, and Party A issues the loans under the Contract according to such statement and promise:

 

(1) Party B is a validly
existing legal entity registered under the laws and the regulations of the People’s Republic of China. As of the loan issuance
date, Party B is continuously under normal operation state, without any existing or reasonably predicted factors probably influencing
the continuous and normal operation thereof within the contract term;

 

(2) Party B signs and
performs the Contract for the truthful intentions thereof, and has obtained all necessary legal authorizations; the above authorizations
and the contract signing and performance behaviors under the authorizations should not violate articles of incorporation or other
organization documents or any binding laws, regulations, rules and other normative documents, judicial decision, contract, promise
or arrangement; the procedure for signing and performing the Contract should have been completely handled and is legally valid;

 

(3) All documents,
information, statements, vouchers, etc. provided thereby to Party A under the Contract should be truthful, accurate, complete and
legally valid, without any misleading statement, false record or significant omission;

 

(4) Party B should
not conceal any existing or probably existing conditions probably enabling Party A to disagree the loan issuance under the Contract,
including but not limited to:

 

1) Significant discipline
violation, law violation or claimed compensation concerning Party B or the main responsible persons thereof;

 

2) The default events
under the contract concluded and signed with any other creditor;

 

3) Such dispute events
as litigation and arbitration;

 

    	 	14	 

     

    

 

4) The debts borne
thereby and the guarantees provided thereby;

 

5) Other conditions
probably influencing the financial condition and the debt paying ability.

 

(5) Party B should
agree Party A to check the credit status thereof from People's Bank of China, the credit database approved to be established by
the competent department for credit investigation, relevant unit and department, or reasonably utilize and disclose the information
for business needs;

 

(6) The legal documents
corresponding to the existing financing and/or guarantee (if any) should exclude any article which restricts Party B for re-financing
and/or providing guarantee, or which may influence the performance of Party B’s obligations under the Contract.

 

In case of contract
modification, supplementation or alteration, Party B should be deemed to repeatedly make the above statement and promise.

 

Article XI Default Responsibility

 

11.1 Default

 

(1) In case of any
one of the following conditions, Party B should be deemed to violate the Contract:

 

1) Party B fails to
provide truthful, complete and valid financial accounting information, production & operation information and other relevant
information as required by Party A, or conceals the information probably influencing the debt paying ability thereof;

 

2) Party B fails to
utilize the loans as agreed by both parties, or refuses or obstructs Party A or the third party employed thereby to supervise and
inspect the loan utilization;

 

3) Party B fails to
repay the loan principal or any interest or other payables (if any);

 

4) Party B transfers
assets or secretly withdraws the capitals to evade debts;

 

    	 	15	 

     

    

 

5) Party B suffers
from business deterioration and financial condition deterioration, cannot pay off the due debts, involves in or will involve in
major litigation or arbitration procedure or other legal dispute, bears any other debts, etc., and Party A believes that the above
events may influence or have influenced or damaged the rights and interests thereof under the Contract;

 

6) Party B involves
in contracting, rent, consolidation, merge, joint venture, separation, joint operation, shareholding reform, registered capital
reduction, or has other behaviors for business pattern change or business mechanism transform, and Party A believes that the above
events or behaviors may influence or have influenced or damaged the rights and interests thereof under the Contract;

 

7) Party B changes
legal representative/controlling shareholder/actual controller, or cannot normally perform the duty thereof or involves in major
economic dispute or suffers from financial condition deterioration, compulsory measure, right limitation or unavailable contact,
etc.;

 

8) Any other debt borne
thereby has influenced or may influence Party A upon the obligation performance thereof under the Contract;

 

9) Without the consent
from Party A, Party B provides dividends to the shareholders within the contract term;

 

10) Party B involves
in such legal procedures as trusteeship, take-over, rectification, reconciliation, reorganization, bankruptcy or dismission, or
the business license thereof is forcedly revoked by relevant authority, or Party B is ordered by relevant authority to be suspended,
closed, cancelled or dismissed;

 

11) In case the enterprise
and/or the guarantor affiliated to Party B, the associated party or the actual controller are/is believed by Party A to be under
significant adverse situation, or have/has any violation behavior against any project cooperation with Party A, the associated
party or other third party of Party A, or against any contract signed thereby, Party A has the right to take the remedy measure
for the breach of contract as agreed in Article 11.2 of the Contract; in case of severe default, Party A has the right to announce
the termination of all project cooperation with Party B;

 

12) Party B violates
other articles of the Contact or involves in other events that, in Party A’s opinion, influence the realization of the creditor’s
rights thereof;

 

    	 	16	 

     

    

 

(2) In case the pledgor
involves in any one of the following conditions, Party A believes that such condition may influence the guarantee capability of
the pledgor and requests the pledgor to eliminate the adverse effect caused thereby, but the pledgor and Party B fail to cooperate,
or Party B refuses to provide the new guarantee accepted by Party A and/or other remedial measures, Party B should be deemed to
violate the Contract:

 

1) When signing the
Gold Pledge Contract, the pledgor conceals the equity disposal of the pledge from Party A, including but not limited to
pledge rent & selling, the pledgor’s behaviors for transfer of usufruct & management right and long-term rent collection,
pledge hypothecation & mortgage, etc.;

 

2) The third party
causes the damage, loss or devaluation of the pledge, but the pledgor fails to provide the damage compensation as agreed in the
Gold Pledge Contract;

 

3) The pledgor’s
behavior is sufficient to devaluate the pledge, and Party A requests the pledgor to stop such behavior and recover the pledge or
provide the corresponding guarantee, but the pledgor refuses or fails to implement as required by Party A;

 

4) Without the written
consent from Party A, the pledgor disposes the pledge through donation, transfer, rent, repeated mortgage, migration or other modes,
or sets other rights upon the pledge;

 

5) Although the pledgor
is agreed by Party A to dispose the pledge, but the revenue obtained from the pledge disposal is not disposed according to the
Gold Pledge Contract;

 

6) The pledge damage,
loss or devaluation is sufficient to influence the debt settlement under the Contract, and the pledgor fails to timely recover
the pledge value or provide other guarantees accepted by Party A or supplement the corresponding cash as agreed in Article 11 of
the Gold Pledge Contract;

 

7) The pledgor’s
other default behaviors specified in the Gold Pledge Contract.

 

    	 	17	 

     

    

 

11.2 Remedy measure
for breach of contract

 

In case of any default
event mentioned above, Party A has the right to take one or more following measures:

 

(1) Stop issuing loans
granted to Party B

 

(2) Announce the immediate
expiry of the loan, beforehand collect all loan issued thereby, request Party B to immediately pay off the loan principle, interest
and other relevant funds under the Contract;

 

(3) Collect the default
penalty from Party B at [20]% of the loan principal;

 

(4) Perform the guarantee
right;

 

(5) Terminate the Contract
and various guaranty contracts (if any);

 

(6) Other measures
specified in laws & regulations, the Contract and the accessory contract;

 

Where Party A realizes
the creditor’s rights under the Contract through litigation due to Party B’s default behavior, Party B should bear
the reasonable expenses (including but not limited to legal fare, reasonable counsel fee, etc.) for Party A to realize the creditor’s
rights thereof.

 

11.3 Special agreement

 

Within [thirty] days
since the signing of the Loan Contract, in case Party B fails to perform relevant obligations under the Contract without a warrant,
Party B should pay RMB [THREE MILLION ONLY] as the default penalty once for all to Party A. Meanwhile, Party A has the right to
unilaterally terminate the Contract.

 

Article XII Contract Alteration and
Termination

 

Unless otherwise specified
in the Contract, after the Contract comes into effect, any party should not unilaterally alter or terminate the Contract. Any contract
modification or alteration must be agreed by both parties through negotiation, and the corresponding written agreement should be
provided.

 

    	 	18	 

     

    

 

Article XIII Applicable Laws and Dispute
Solution

 

13.1 In case of any
dispute caused by the Contract or pertinent to the Contract, the parties concerned should solve such dispute through negotiation
or conciliation; if failed, both parties should submit the dispute to the jurisdictional people’s court at the place where
Party A is located.

 

13.2 The establishment,
interpretation, performance and dispute solution of the Contract are all applicable to existing laws, administrative regulations
and rules in China.

 

13.3 During dispute
solution, the articles of the Contract, not involved in the dispute, should be continuously executed, and both parties should not
refuse to perform any obligation under the Contract on the excuse of dispute solution.

 

Article XIV Notification and Delivery

 

14.1 All notices, documents,
information, etc. sent or provided by both parties during contract performance should be delivered according to the contact information
listed in Article 14.2 of the Contract. In case one party changes the contact information, the party concerned should inform the
other party in a written form (fax or EMS should be valid) within three days since the change of the contact information; or else,
when the party not changing the contact information informs the other party in a written form — fax or EMS according to
the contact information indicated in the Contract, relevant information should be deemed to be delivered.

 

14.2 Contact information
of the two parties is as follows:

 

Party A: AVIC Capital
Investment Management (Shenzhen) Co., Ltd

Contact Address: 3906#
Times Square Excellence, Futian Centre, Shenzhen City

Post Code: 518017

Contact Person: Liang
Xinyue

Telephone: +8613823212812

Fax:

Email: lillian.liang@aviccapital.com

 

    	 	19	 

     

    

 

Party B: Wuhan Kingold
Jewelry Inc.

Contact Address: 15#
Huangpu Science and Technology Park, Jiang’an District, Wuhan City

Post Code: 430023

Contact Person: Hu
Qiao

Telephone: 027-65694977

Fax: 027-65694977

Email: webmaster@kingold.com.cn

 

14.3 The notification
should be deemed to be delivered to the informed party on the following date:

 

(1) The notification
sent by a specially-assigned person should be deemed to be effectively delivered on the delivery date;

 

(2) The notification
sent as a registered letter should be deemed to be effectively delivered on the third day after mailing (postmark as the voucher);

 

(3) The notification
sent by fax should be deemed to be effectively delivered when the fax machine generates the corresponding confirmation for successful
transmission;

 

(4) The notification
sent by EMS should be deemed to be effectively delivered on the second day after mailing (postmark as the voucher);

 

(5) The notification
sent by email should be deemed to be effectively delivered on the date when the successful transmission information is displayed
in the mail system of the sender.

 

    	 	20	 

     

    

 

Article XV Other Issues

 

15.1 Any supplemental
agreement concluded and signed between both parties for the issues not mentioned in the Contract should be made as the annex of
the Contract and should have equal legal effect.

 

15.2 The Loan Receipt
under the Contract and relevant documents confirmed by both parties should be deemed as an integral part of the Contract.

 

15.3 Party B should
have read all articles of the Contract, completely known and comprehensively understood the implications of the articles of the
Contract and the corresponding legal consequence. As required by Party B, Party A should have interpreted the corresponding articles
of the Contract.

 

15.4 During contract
performance, in case Party A fails to perform or timely perform any right under the Contract, Party A should not be deemed to waive
this right and such behavior should not influence the performance of other rights of Party A or the performance of any obligation
of Party B under the Contract. All right waivers should be made in a written form.

 

15.5 The statements
and the promises mentioned in the Contract should be separated from and independent of each other. Unless otherwise specified clearly
or agreed by both parties in a written form, any statement or promise should not be expressed or restricted on the excuse of any
opposite implication probably included in any other article of the Contract. In case an article or a part of an article of the
Contract is or will be invalid, such invalid article or invalid part should not influence the Contract and the validity of the
other articles or the other contents of the articles therein.

 

15.6 Any violation
against any statement or promise clearly indicated and agreed in the Contract should be deemed as a default behavior.

 

15.7 Both parties hereto
should prepare and sign or guarantee to prepare and sign the further actions, behaviors, events and documents needed for executing
the articles of the Contract in order to fully achieve the expected purpose of the Contract.

 

    	 	21	 

     

    

 

15.8 Any title for
an article of the Contract is only for convenient reading, and should not be deemed as a part of the Contract in any case or as
the restriction to the article concerned.

 

15.9 The Contract should
be deemed as a complete document concluded and signed by both parties for the issues concerned. The Contract and any annex of the
Contract should be deemed to compose all agreements concluded between both parties. In case of any inconsistency between the Contract
and the letter of intent previously signed by the parties or any other legal document or any written or oral agreement, the Contract
should prevail.

 

15.10 The Contract
should come into effect since being signed (or stamped) by the legal representatives/responsible persons of both parties and stamped
with the corresponding official seal (or special seal for contract), and should be terminated on the date when the loan principal,
interest, default interest, default penalty and other payables (if any) are paid off.

 

15.11 The Contract
is made into [six] parts with equal legal effect. Party A holds [three copies], Party B holds [two] copies, and the rest copies
are used for handling mortgage (pledge) procedure, etc.

 

When signing the Contract,
the parties concerned should have read and understood all articles of the Contract, without any objection, and should have accurately
understood the legal relation between both parties and the legal implications of the articles regarding rights, obligations and
responsibilities. Any party should not propose any objection upon any article of the Contract on the excuse of serious misunderstanding,
obvious unfairness, etc.

 

(The reminder of this page is intentionally
left blank)

 

    	 	22	 

     

    

 

(This is the signature page of the Loan
Contract (Contract No.: “”), no text)

 

	Party A: AVIC Capital Investment Management (Shenzhen) Co., Ltd	Party B: Wuhan Kingold Jewelry Inc.

 

	(Official Seal/Special Seal for Contract)	(Official Seal/Special Seal for Contract)
	 	 
	Legal Representative or Authorized Representative:	Legal Representative or Authorized Representative:
	 	 
	(Signature/Seal)	(Signature/Seal)

 

Date of Contract Signing: 5th
September 2018

 

Place of Contract Signing: Wuhan Hubei

 

    	 	23

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00289-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00289-of-00352.parquet"}]]