Document:

EX-10.9

 Exhibit 10.9 

Cooperation Agreement 

Between 
 Jincheng Bank
Co., Ltd. 
 And 

Shanghai Cango Investment and Management Consultation Service Co., Ltd. 

Relating to the 

Outsourcing of Onsite Collection and Disposal Business 

 Cooperation Agreement 

This Agreement is signed by and between: 
  

	(1)	Jincheng Bank Co., Ltd., a joint-stock bank legally established and validly existing under the laws of the People’s Republic of China with its registered address at No.1669, Wenchang West Street, Jincheng City,
Shanxi Province (hereinafter referred to as “Party A”); 

  

	(2)	Shanghai Cango Investment and Management Consultation Service Co., Ltd., a limited liability company legally established and validly existing under the laws of the People‘s Republic of China with its registered
address at Room 418, Building 13, No.258 Juxun Village, Chengqiao Town, Chongming County, Shanghai (hereinafter referred to as “Party B”); 

hereinafter be referred to collectively as the “Parties” and individually as a “Party” or the “Other Party”. 

Whereas: 
  

	1.	Party A proposes to outsource the business of on-site collection and disposal of automobile loans or consumer loans being overdue that provided to its specified clients
(hereinafter referred to as the “on-site collection business”) to Party B, and authorizes Party B to perform on-site collection, disposal and other related
activities within the scope of authority; 

  

	2.	Party B is a professional company specializing in loan collection business and is competent to undertake and agrees to provide on-site collection and disposal referred to as
services to Party A. 

 Therefore, on the basis of equality, free will and good faith and through friendly consultation, the Parties agree to
enter into and be bound by this agreement in connection with the outsourcing services furnished by Party B to Party A (hereinafter the “Agreement”) as follows: 

 

	1.	Cooperation 

  

	1.1.	Party A agrees to, in the form of service outsourcing, designate Party B as the outsourcing service provider for the on-site collection business during the term of cooperation set
forth in Article 2 herein, who will be responsible for providing such collection and disposal services to Party A according to the Agreement. 

  

	1.2.	Neither Party shall use the title, name, trademark, logo and intellectual property of the Other Party and its affiliates or respective staffs in any advertising, publicizing, promotion or other marketing activities, nor
directly or indirectly claim that the products or services provided have been approved or recognized by the Other Party nor introduce the products or services of the Other Party into its own product or service portfolio without the prior written
consent of the other Party 

  

	1.3.	Except otherwise agreed in the Agreement, the Party is not entitled, now and in the future, to participate in any discussion or negotiation for the purpose of establishing any obligation or commitment for the Other
Party with any third party on behalf of the Other Party, nor is entitled to create any obligation or commitment for the Other Party on behalf of the Other Party. 

  
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	1.4.	Both Parties agree that any agreement in the Agreement and any actions taken by both Parties per the Agreement will not constitute, or be deemed to constitute partnership or joint venture relationship between both
Parties, and either Party is not entitled to restrain the Other Party in the name of partnership or joint venture relationship. 

  

	2.	Terms of Cooperation 

 Unless the Agreement is terminated in advance per Article 5 of the
Agreement, the validity of the Agreement is (12) months, starting from [January 1, 2018] until [December 31, 2018]. If both Parties are willing to continue the cooperation, both Parties shall reach a cooperation agreement no less than 30 days
before the expiration of this agreement. 
  

	3.	Contents of Cooperation 

 3.1 Business Scope 

 

	3.1.1	Services of on-site collection business provided by Party B to Party A shall not exceed the business scopes admitted by Party B’s business license and other relevant business
permits. 

  

	3.1.2	Party A authorizes Party B to conduct on-site collection and assets disposal imposed to the clients whose loans overdue for more than 15 natural days or highly possible to occur
severe overdue risk, including but not limit to loss of communication with the GPS tracking devices for more than 24 hours, the contact phone number is out of service or not available for a long period of time, any evidence showing that the customer
might be involved in prostitution, gambling or drug, or private lending (hereinafter referred to as the “customers in arrears”); authorizes Party B to conduct various actions for the purpose of collecting overdue amounts (including but not
limited to monthly installment in arrears, remaining principal, interests in arrears, penalty interest, collection costs and default fine) from customers in arrears per the range defined in contracts, as well as to reauthorize entrustment on demand
for the advantage of carrying out tasks. 

  

	3.1.3	Party A entrusts Party B to file lawsuits against customers in arrears to promote auto ownership transfer, confirm and realize creditor’s right; Party A entrusts Party B to respond to lawsuits involving Party A due
to relevant businesses. Party B shall apply to Party A for approval for all lawsuits to be implemented beforehand. Party B shall take records regarding the collected payments by means of lawsuits or relevant interests, together with the collected
payments stated in Article 3.1.2. 

  

	3.1.4	The service range of on-site collection business shall cover the regions that are already covered by Party B’s existing operations, i.e. throughout the territory of PRC,
excluding Hong Kong, Macau and Taiwan. 

  
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	3.1.5	Party B shall strictly follow the business procedures and criteria hereunder and conduct on-site collection business in accordance with Party B’s collection and disposal
procedures. 

  

	3.1.6	Both Parties shall designate their respective contact person, of whom the name and necessary ID information shall be provided within 3 business days to the Other Party immediately after the date of signing the
Agreement, as well as signature card with the authorized contact person’s signature pattern on it. Only the documents with the signature and seal of authorized contact person by the Party (including but not limited to all report documents and
business documents) shall be recognized by the Other Party, otherwise the documents without signatures of authorized contact person are invalid to the Other Party. 

 

	3.1.7	If the Party needs to change its authorized contact person, the Party shall inform the Other Party the name, necessary ID information, signature pattern and signature card of the new authorized contacting person and the
time to change in writing at least 5 business days ahead of such proposed change, as well as obtain the Other Party’s prior written consent, and the Other Party shall not reject such requirement unreasonably. With the prior written consent of
the Other Party, the change of authorized contact will take effect to both Parties from the date of change stated in the above written consent. 

3.2 Business Procedures 
  

	3.2.1	Party B shall conduce on-site collection towards the customers in arrears by means of phone calls as required by Party A. 

 

	3.2.2.	When the customers meet the criteria for overdue payment as set out in Article 3.1.2, Party B can conduct on-site collection or assets disposal based on actual situations by means
of, including but limited to, phone calls, SMS, post, in-person visits, company visits, relevant person visits, repossession of the car, enforcement of fully settlement, and disposal of the car for
liquidation. As for enforcement of settlement, prior approval from Party A shall be obtained. 

  

	3.2.3	To complete the on-site work, Party B may use phone, network communication tool, post, email and other auxiliary means to assist in the
on-site work and to contact customers, joint applicants, guarantors and emergency contact persons, etc. 

  

	3.2.4	Party B shall prepare a statement regarding the overdue payments of current month and corresponding handling method to Party A on the 5th day (which will be postponed
if it falls on a holiday) of each month. Party A may propose suggestions on the work based on actual situations. Party B shall make corresponding correction or change in subsequent work in a prompt manner according to Party A’s suggestions.

  

	3.2.5	Upon completion of on-site collection or disposal, Party B shall send the “On-site Collection or Disposal Settlement Report”,
archived pictures and other related materials gathered during the procedures of on-site collection to the Party A’s designated staff via electronic scanned copy or fax. 

  
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	3.2.6	Before the Party A makes payment, Party B shall submit to Party A the original copies of “On-site Collection or Disposal Settlement Report” for last month and other
materials gathered during the procedures of on-site collection. Party A will make payment based on above original copies. 

  

	3.2.7	During the term of the Agreement, Party B shall provide Party A with the “On-site Collection or Disposal Settlement Report” within the first five (5) business days
of each month after the month (inclusive) of signing of the Agreement. Contents of the “On-site Collection or Disposal Settlement Report” shall contain the number of
on-site collection tasks issued by Party A in the month before last (e.g. the report for January shall be prepared in March, and report for February shall be prepared in April) as well as the number of tasks
which have been confirmed as successful and which have been completed but confirmed as unsuccessful in the said tasks. Party A will make payment based on the report. 

 

	3.3	Business Criteria 

  

	3.3.1	Where the customer of Party A in Article 1 meets the overdue criteria set out in Article 3.1.2, Party B shall take pertinent actions. Any special cases or reasons shall be explained in the monthly “On-site Collection or Disposal Settlement Report”. 

  

	3.3.2	The number of on-site collection tasks conducted by Party B is calculated in “task”. A task of on-site collection or disposal
against the person in any collection “list” conducted by Party B shall be deemed as one task of on-site collection or disposal. Once the amounts from disposing of customers in arrears are credited
into Party A’s account and Party B submits to Party A the “Customer Settlement Report”, then Party B is deemed to have validly completed one task of on-site collection or disposal.

  

	4.	Services and Other Fees and Payment 

  

	4.1	Party A and Party B both confirm the service fee shall be collected by the following means: 

  

	 	(1)	Party B shall charge Party A the service fee as per [REDACTED]1% of the assets recovered through collection or disposal. 

 

	 	(2)	If customer assets are recovered within [REDACTED]2 days (inclusive) (from the date on which the payment becomes overdue for the first time after Party A issues the
instruction on vehicle repossession to the date on which the assets are recovered), extra service fee of [REDACTED]3 % of the monies recovered will be paid; if customer assets are recovered within
[REDACTED]4 days (inclusive), extra service fee of [REDACTED]5% of the assets recovered will be paid; if customer assets are recovered within
[REDACTED]6 days (inclusive), extra service fee of [REDACTED]7% of the assets recovered will be paid, and the asset recovery date shall be the
date on which the payment is credited into the account. 

  

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	 	(3)	If the asset recovery ratio exceeds [REDACTED]8% (inclusive), extra service fee of [REDACTED]9% of the monies
recovered will be paid; if the asset recovery ratio exceeds [REDACTED]10% (inclusive), extra service fee of [REDACTED]11% of the monies
recovered will be paid; if the asset recovery ratio exceeds [REDACTED]12% (inclusive), extra service fee of [REDACTED]13% of the monies
recovered will be paid. Asset recovery includes but is not limited to overdue monthly instalment payment, residual principal, overdue interest, penalty interest, collection related costs and default find etc. 

 

	 	(4)	If the recovery rate of Party A’s assets overdue for over [REDACTED]14 days (including losses of the current year) is lower than [REDACTED]15% (inclusive) on 31 December of the current year, extra service fee of [REDACTED]16% of the monies recovered for the current year will be
paid; if the rate is lower than [REDACTED]17% (inclusive), extra service fee of [REDACTED]18% of the monies recovered for the current year will
be paid; if the rate is lower than [REDACTED]19% (inclusive), extra service fee of [REDACTED]20% of the monies recovered for the current year
will be paid. Calculation formula: overdue rate = (residual principal of customers in arrears for over [REDACTED]21 days as at 31 December of the current year + loss value after settlement of
customer loans which have been collected as at 31 December of the current year / residual principal of all contracts as at 31 December of the current year. 

 

	 	(5)	Costs and expenses arising from the recovery and disposal of Party A’s assets completed by Party B include but not limited to: travel expenses, staff costs, parking expenses, maintenance expenses, insurance
expenses, transfer expenses, information expenses, system development expenses etc. are not relevant to Party A, and shall be borne by Party B. 

 

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	 	(6)	Lawsuit fees, property preservation fees and preservation deposit shall be borne by Party A. 

  

	 	(7)	In the case that additional collected income incurs after Party B had already collected the amount and settled with the customer, the service fees for the newly added portion shall be calculated based on the above
ratio. 

  

	 	(8)	If above service fee standard does not apply due to changes of market conditions during the term of the Agreement, both parties shall adjust the above service fee standard via negotiation and execution of supplementary
agreement. 

  

	 	(9)	Party B’s account to receive amount is as follows: 

 Account name: [REDACTED]22 
 Opening Bank: [REDACTED]23 

Account No.: [REDACTED]24 

 

	4.2	Party B shall provide Party A with the “On-site Collection or Disposal Settlement Report” within the first 5 business days of each month, and after both parties confirm
the details and monies are credited into the account, Party B shall also provide Party A with the “Customer Settlement Report” relating to the above “On-site Collection or Disposal Settlement
Report”, original copies of other materials collected during the process of on-site collection, and official special VAT invoices (tax rate of 6%), with detailed fees for each ticket, and Party A shall
make payment after confirmation based on the above materials. If the above invoices or other materials are false, Party B shall be liable for breach of the Agreement (pay default equal to
[REDACTED]25% of the service fees), and Party A has right to refuse payment of service fees. 

Information about the VAT invoices 

Name of Opening Bank, Account Opening Branch and Account No. of Party A: 

Name of Bank: [REDACTED]26 

Taxpayer’s registration number: [REDACTED]27 

Registered address: [REDACTED]28 

Contact Number: [REDACTED]29 

Account Opening Branch: [REDACTED]30 

Bank Account: [REDACTED]31 

 

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	5.	Rights and Obligations of Party A 

 5.1 Rights of Party A 

 

	5.1.1	Party A has rights to determine business volume of on-site collection, even to terminate granting new case based on Party B’s information security assurance, on-site collection effects and performance, etc.; 

  

	5.1.2	Party A has rights to learn from Party B the survey materials and disposal opinions about the on-site collection case, and has rights to ask Party B to provide materials related
to the on-site surveys; 

  

	5.1.3	Party A has rights to determine whether to recover customer’s vehicles according to specific circumstances, and Party B shall not recover customer’s vehicles without the prior consent of Party A;

  

	5.1.4	Party A has rights to check and monitor the progress and quality of the work of Party B at any time; 

  

	5.1.5	Party A has rights to conduct business audit on Party B on a regular or irregular basis, to ensure Party B provides on-site collection service to Party A effectively and legally
in accordance with the Agreement. The Audit consists of regular and irregular types. Regular audits are typically off-site audits with approaches including but not limited to auditing of statements, tracking
and random test on debtors of outsourced cases and follow-up of compliant cases. Irregular audits are typically on-site audits, mainly including auditing on
qualification for performing the Agreement, information security assurance and on-site agency operation. Party B shall cooperate with Party A on all auditing works; 

 

	5.1.6	As for instructions for on-site collection assigned by Party A to Party B involved in the Agreement, Party A may, during performance of the Agreement, issue to Party B a notice to
change the instructions based on business requirements and status of contract performance of Party B. However, before service of the notice, collection action that has been taken according to the previous instructions shall not be affected by the
instructions later. 

  

	5.1.7	Other rights stipulated in the Agreement. 

  

	5.2	Obligations of Party A 

  

	5.2.1	Party A shall represent the facts of the assigned cases to Party B in an objective and detailed way, and truthfully provide information related to the assigned cases in accordance with the Agreement. However, the scope
is only limited to those materials and information that are kept by Party A legally and can be provided to Party B legally; 

  
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	5.2.2	Party A shall pay Party B the service fees in time in accordance with the provisions in the Agreement; 

  

	5.2.3	Party A shall provide necessary assistance to Party B during the course of performance of services under the Agreement; 

  

	5.2.4	Party A shall provide timely and effective assistance to Party B regarding actions Party B needs to take for performance of the Agreement. 

 

	6.	Rights and Obligations of Party B 

  

	6.1	Rights of Party B 

  

	6.1.1	Party B has rights to receive the service fees in accordance with the provisions in the Agreement; 

  

	6.1.2	Party B has rights to learn about the cases from Party A, and ask Party A to provide necessary basic information for performance of the Agreement; 

 

	6.1.3	Party B has rights to ask Party A to make corrections in case Party A assigns other agents for the same service project at the same time without any justified reason; 

 

	6.1.4	Party B has rights to take on-site actions on late customers of Party A based on its own judgment without needing to notify Party A in advance, except for vehicle repossession;

  

	6.1.5	Party B has rights to advise Party A to take on-site actions such as vehicle repossession on specific customers based on its own judgment; 

 

	6.1.6	Other rights stipulated in the Agreement. 

  

	6.2	Obligations of Party B 

  

	6.2.1	Party B undertakes that at the time of execution of the Agreement, it has the subject qualifications and capabilities for performing the Agreement, and the qualifications and capabilities are valid during the term of
the Agreement and assignment period; 

  

	6.2.2	While performing the Agreement, Party B shall diligently undertake its obligations under the Agreement and safeguard Party A’s legitimate rights and interests in accordance with state laws and provisions herein.
Party B shall not conduct on-site collection as an agent beyond the scope of the assignment and responsibilities; or delay the agency task without due reasons, or rashly deal with the task, or cause loss of
evidence materials and disclosure of litigation strategies due to poor management, or cause losses to Party A due to negligence; 

  

	6.2.3	If Party B is involved in any event (including but not limited to change in Party B’s legal representative and business scope, decline in reputation, deterioration in financial conditions and other vicious events)
that has material adverse effect on its subject qualifications and capabilities for performing the Agreement and its fulfilment of obligations under the Agreement or puts its ordinary operation in jeopardy, Party B shall inform Party A within three
days after occurrence of such event; 

  
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	6.2.4	Party B shall reasonably arrange resources for effective provision of the services assigned by Party A. Party B shall also firmly protect the image of Party A and shall not take any act that affects the image of Party
A; 

  

	6.2.5	Regarding the assignment to Party B by Party A, Party B shall make no disclosure of information about debtors (including guarantors) to unrelated third parties; 

 

	6.2.6	Party B shall not further entrust the assignments to any third parties (apart from headquarters and branches) without the written consent from Party A. A written application to Party A is required in the event that
Party B needs to make re-assignments to any third parties. In the event that Party A approves Party B to make re-assignments to a third party in written form, Party B is
obliged to inform the third party that its obligations and responsibilities are not less than or inferior to the obligations and responsibilities of Party B under the Agreement. Moreover, Party B shall be responsible for the behaviour of the third
party involved in the re-assignments. 

  

	6.2.7	When engaging in the services specified in the Agreement, Party B shall clearly show its identity to the debtors (including guarantors) and other relevant personnel involved in the assigned cases and shall not
fraudulently use any other identities including Party A’s name. Besides, Party B shall not collect any other fees than the overdue monthly instalment payment, residual principal, overdue interest, penalty interest, collection related costs and
default fine in the name of Party A; 

  

	6.2.8	Without the written consent of Party A, Party B shall not discretionarily agree to reduce or exempt part of or all the outstanding auto loans or consumption loans (including but not limited to overdue monthly instalment
payment, residual principal, overdue interest, penalty interest, collection related costs and default fine); 

  

	6.2.9	During the term of the Agreement, Party B shall not refuse any cases assigned by Party A or engage in collusion with debtors or third parties (including but not limited to accepting benefits from debtors privately) to
conceal facts from Party A or in other way damage the interests of Party A; 

  

	6.2.10	Party B shall record the process of on-site collection and maintain such record for more than one year. A detail on-site collection record
shall be established. Historical on-site collection record shall not be deleted or amended; 

  

	6.2.11	Party B shall ensure the lawful and reasonable measures for on-site collection. No foul language and obscene, aggressive, provoking and threatening words are allowed anytime in
the fulfilment of the Agreement. No insulting, abusing or threatening words and manners are allowed in the reminder notice; 

  

	6.2.12	Party B shall enhance the management of on-site collection business to reduce or avoid complaints from customers and to protect the reputation of Party A and Party B. In the event
that complaints from customers occur, Party B shall actively cooperate with Party A to solve customer’s complaint based on the level and urgency of the complaint. 

 

	7.	Default and Termination 

  

	7.1	Party A shall pay the service charge in a timely manner and Party B is entitled to terminate the agency relationship by giving a written notice to Party A in the event that Party A fails to pay the service charge for
two consecutive instalments without an appropriate reason. 

  
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	7.2	Party B shall unconditionally bear the legal liability like elimination of impact, apology and compensation in the event that Party B is in breach of the obligations under the Agreement and its appendix or engages in
illegal activities and is even suspected of a criminal offence, which caused damage on reputation, persons and property of Party A and/or debtors (including guarantors) of the assigned case and/or any other third parties. Party A is entitled to
[REDACTED]32% of the damage amount as default fine and can opt to deduct the default fine from the service charge or require Party B to make separate payment if Party B bears the responsibility to
make compensation. 

  

	7.3	Party B shall compensate all losses to customers of Party A and/or Party A, solve the relevant disputes and eliminate the impact in the event that damage is caused to customers of Party A and/or Party A because of the
assignment by Party B to a third party (apart from headquarter and branches). 

  

	7.4	Unless stated otherwise in the Agreement, if either party breaches the terms under the Agreement, the default party shall compensate the other party for the direct loss because of the default. In the event that a
default occurs, the other party is obliged to take the necessary measures in a timely manner to minimize the damage. 

  

	7.5	The Agreement will be terminated in the situations below: 

  

	7.5.1	During the effective term of the Agreement, either party may at any time give the other party a written notice thirty (30) days in advance to terminate the Agreement. 

 

	7.5.2	In the event that either party violates the terms of the Agreement and fails to rectify in thirty (30) days after receiving the written notice regarding the default from the other party, the other party is entitled
to immediately terminate the Agreement by giving a written notice to the default party after the expiry of such 30-day period. 

 

	7.5.3	Either party is entitled to immediately terminate the Agreement by giving a written notice to the other party in the event that a party enters into a liquidation procedure (compulsory or voluntary liquidation) or
insolvency or files or is filed for bankruptcy or is prosecuted or involved in similar litigation of insolvency. 

  

	7.5.4	In the event that both parties agree to rescind the Agreement or replace the Agreement with other agreement after negotiation, the Agreement will be terminated as agreed in the new agreement. 

 

	7.5.5	Party A is entitled to refuse to pay the service charge and rescind the Agreement in the event that Party B violates Clause 6.2.11 or engages in other behaviours that affect the reputation of Party A. Party B shall bear
the responsibility of default ([REDACTED]33 times of the total service charge as default fine) and compensate Party A for its reputation and economic loss. 

 

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	8.	Notice 

  

	8.1	All notices and documents about the Agreement or fulfilment of the Agreement shall be in written format to be delivered by a courier or facsimiled to the address below. A written notice for any change in address or
facsimile number by either party shall be given to the other party ten (10) days in advance. If either party fails to give such notice, that party shall be liable for the consequence so caused. The contact information of both parties is as
follows: 

 To: Jincheng Bank Co., Ltd. 

Recipient: [    ] 

Address: No.1669 of Wenchang West Street, Jincheng City, Shanxi Province 

Postal code: 
 Fax number: 

Phone number: 
 Email address:

 To: Shanghai Cango Investment and Management Consultation Service Co., Ltd. 

Recipient: [    ] 

Address: 10/F, Building 3, YoYo Century Plaza, No. 428 of Yanggao South Road, Pudong New Area, Shanghai City 

Postal code: 
 Fax number: 

Phone number: 
 Email address:

  

	8.2	In the event that a document will be delivered via email, relevant document shall be signed by the authorized contact person in accordance with Article 3.1.6 and scanned and delivered as an attachment to an email.

  

	8.3	Unless to the contrary, the situations below will be deemed as effective delivery: 

  

	 	(1)	for delivery via fax or mail, it will be deemed as effective delivery when the sender receives a fax or mailing receipt from the recipient; 

 

	 	(2)	for delivery by a courier, it will be deemed as effective delivery when the notice is delivered to the address of the recipient. 

  

	8.4	Any change in the authorized contact person because of internal transfer, resignation or otherwise shall comply with Article 3.1.7. 

  
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	9.	Confidentiality 

  

	9.1	Both parties admit that in the course of fulfilling the Agreement, a party may obtain relevant information of the other party. Each party commits to the other party that the content of the Agreement and all relevant
information of the other party obtained from the other party in the course of fulfilling the Agreement shall be strictly confidential and shall only be disclosed to the employees, directors, representatives, legal counsels and other advisors of the
confidential information receiver, and it’s necessary for such people to know such information due to their respective responsibilities or positions, and disclosing such information is only limited to the purpose of completing the cooperation
hereunder. The information receiver fully agrees to obey the confidentiality obligation herein and commits and guarantees that via its action, neither the receiver nor the above-mentioned people who may receive the disclosed information from the
receiver will violate the confidentiality obligation herein. Without prior written consent from the information source, any information shall not be disclosed to any third party. Party B’s disclosure of Party A’s relevant information to
other people other than the above mentioned when performing on-site collection tasks shall not be deemed as Party B’s violation of its confidentiality obligation. 

 

	9.2	Each party shall make statements and guarantees to the other party that any information disclosure between both parties hereunder will not infringe any third party’s interests. If any third party’s interests
are infringed due to any party’s information disclosure, the information discloser shall be fully liable for any complaint and litigation related to privacy infringement by certain information disclosure or filed against information disclosure
based on other reasons, if such litigation brings any loss or damage to the other party, the information discloser shall compensate the other party to ensure the other party not to suffer from any loss. 

 

	10.	Entirety of Agreement 

 The terms of the Agreement constitutes the entirety of agreement
reached by both parties and will supersede all previous written or oral agreements, understandings and arrangements. Unless stated otherwise in the Agreement, any oral or written negotiation prior to the signature of the Agreement by both parties
shall not be deemed as any express or implied statement or guarantee. In the event that there is any outstanding issue not mentioned in the Agreement, both parties may reach an agreement in the form of appendix to the agreement or supplementary
agreement. The appendix to the Agreement and the supplementary agreement constitute an undivided section of the Agreement. In the event that there is any inconsistency between the Agreement and the appendix or supplementary agreement reached after
the signature of the Agreement, the appendix or supplementary agreement reached after the signature of the Agreement shall prevail. 
  

	11.	Applicable Laws and Solution of Disputes 

  

	11.1	The establishment, effectiveness, fulfilment and explanation of the Agreement and solution of disputes are governed by PRC laws. 

  

	11.2	Any disputes arising from the applicability, execution, effectiveness, default or termination of, or in connection with, the Agreement shall be settled through consultations between both parties. In case no settlement
can be reached through consultations, any party has rights to submit the disputes to the Jincheng Arbitration Commission for arbitration. 

  
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	12.	Force Majeure 

 Where the performance of the Agreement is directly affected or the
Agreement cannot be performed as per the specified conditions due to earthquake, typhoon, fire, war and any other unforeseeable, unpreventable and unavoidable events of Force Majeure, the party suffering from such Force Majeure shall immediately
notify the other and shall within fifteen (15) days after occurrence of the Force Majeure, provide a detailed description of such Force Majeure and the reason for the failure to perform, partially perform, or delay to perform the duties under
this Agreement. As for the extent to which the performance of this Agreement is being influenced, the parties shall negotiate to determine whether to terminate the Agreement, partially relieve such party’s obligations under this Agreement, or
delay the performance of the Agreement. Neither party shall propose request for a claim on the losses from the Force Majeure. Once the Force Majeure event ends, both Party A and Party B shall take action immediately to continue performing the
Agreement. No reduction or exemption of the payment obligation of Party A to Party B due to the force majeure events. 
  

	13.	Language and Title 

  

	13.1	The Agreement is in Chinese, and there is no other version in other languages. 

  

	13.2	The titles of the Agreement are provided for convenience only and shall not affect provisions of the Agreement. 

  

	14.	Establishment and Effectiveness 

  

	14.1	The Agreement shall enter into effect after execution by the authorized representative of both parties, and stamped with company seal or special seal for auto loan contract. 

 

	14.2	The Agreement is in quadruplicate and each party shall hold two. Each copy of the Agreement bears the same legal effect. 

[Below is intentionally left blank] 

  
 13 

			
	[Signing page]
	
	Party A: Jincheng Bank Co., Ltd.
		
	Authorized Signatory:	 	 /s/ Qinlin Jia

	
	Company Seal
	
	Date of Signature:

 Party B: Shanghai Cango Investment and Management
Consultation Service Co., Ltd. 
  

			
	Authorized Signatory:	 	 /s/ Xiaojun Zhang

	
	Company Seal
	
	Date of Signature:

  
 14EX-10.10

 Exhibit 10.10 

Automotive Financing 

Cooperation Agreement 

between 
 Shenzhen
Qianhai WeBank Co., Ltd. 
 and Shanghai Cango Investment and 

Management Consultation Service Co., Ltd. 

 Party A: Shenzhen Qianhai WeBank Co., Ltd. 

Domicile (address): Building #7 A, Keji Shengtaiyuan, No. 1819, Shahe West Road, Nanshan District, Shezhen 

Legal representative (person-in-charge): [REDACTED]1 
 Contact: [REDACTED]2 

Party: Shanghai Cango Investment and Management Consultation Service Co., Ltd. 

Domicile (address): Floor 10, Building #3 Liberty Century Plaza, No. 428 Yanggao South Road, Pudong New Area, Shanghai 

Legal representative (person-in-charge): [REDACTED]3 
 Contact: [REDACTED]4 

After friendly consultation, both parties reach below agreement to extend business cooperation on individual purchased automobile and/or automobile-related
products (services), which both parties shall abide by:     
 Article 1     Definition 

 

	1.1	Customer(s) refers to the natural person who apply Party A for loan for purchase of designated automobile and /or automobile-related products (services). 

 

	1.2	Automotive Financing Loan Agreement refers to the Automotive Financing Loan Agreement signed between the customer and Party A (the specific name is based on the version signed by the customer) and its supplementary
agreement and related attachment. 

  

	1.3	Electric Loan Certificate refers to the electric certificate that demonstrates the customer the key components of the loan including borrower, lender, loan amount, maturity, interest rate, repayment amount and payoff
date, collaterals amongst others. 

 Article 2    Cooperation Model 

Verified and referred by Party B, the customer apply Party A for loan to purchase designed new automobile and /or automobile-related products (services) and
Party B provides related supporting services. 
  
  

	1 	Confidential treatment requested 

	2 	Confidential treatment requested 

	3 	Confidential treatment requested 

	4 	Confidential treatment requested 

  
 1 

 Article 3    Terms of Agreement 

3.1 The terms of this agreement is two years, from April 1 2018 till April 1 2020. Neither party fails to receive written notice to terminate this
agreement before expiry of agreement, then this agreement will be automatically renewed for a year and can only be renewed for one time. 
 3.2 All
businesses before the disbursement date for single loan under this agreement within above period (inclusive) are applicable to this agreement. If the cooperation expires, the existing customers under this agreement are still applicable to the terms
of this agreement till all outstanding loan of the existing customers are cleared.     
 Article 4     Rights
and Responsibilities of Both Parties 
 4.1 Rights and Responsibilities of Party A 

4.1.1 Responsible for establishing risk management policies, including but not limited to credit policy, review and approval criteria and post-lending
management strategies. 
 4.1.2 Responsible for reviewing Party B’s management procedures and operation process related to businesses under this
cooperation agreement. 
 4.1.3 Responsible for loan approval, including but not limited to fraud risk screening, grant of credit judgment and loan purpose
reviewing. 
 4.1.4 Responsible for identifying partner financial institutions and disbursing loans to clients that are qualified for credit and meet the
conditions for disbursement, but excluding the failure of Party A or its partner financial institutions to disburse loans due to reasons such as law and regulations, regulatory policies, risk policy, credit threshold, system failure and client
abandoning. 
 4.1.5 Responsible for managing loans, including but not limited to post-lending monitoring and asset recovery. 

4.1.6 Responsible for reporting loan credit reference data to the Credit Reference Center of the People’s Bank of China as required. 

4.2 Rights and Responsibilities of Party B 
 4.2.1
Customer Services 
 (1) Responsible for referring customers to Party A and honestly describe Party A’s products and fee standards to such customers.

 (2) Assistant Party A to collect all information needed, including but not limited to customer basic information, job information, income information,
residential information, qualification and certification information, trading information (including trade counterpart and automobile purchase invoice), automobile information (including brand, automobile type, automobile series and VIN), auto
ownership registration information, automobile collateral registration information and other required materials for loan screening. 

  
 2 

 (3) Responsible for verifying truthfulness of deals and check all information collected to ensure the
truthfulness, completeness and validity of all information. 
 (4) Party B shall obtain clear authorization from any customer, should it fill in the loan
materials on behalf of the customer. 
 (5) For any customer that has been reviewed by Party A and deemed to a qualified customer for the loans, loans shall
be granted by Party A or Party A’s partner financial institutions with priority, and Party B is not allowed to grant such loans by itself or via other third parties without Party A’s acknowledgement. 

4.2.2 Automobile Services 
 (1) Responsible for helping Party A
check and assess vehicles and synchronize the checking and assessment results with Party A. 
 (2) Responsible for organizing and accompanying customers to
undergo automobile ownership registration. If the owner of the motor vehicle register certificate is not under such a customer, Party A’s prior written consent shall be obtained. 

(3) Responsible for helping Party A verify the automotive insurances bought by a customer, including but not limited to car loss insurance, robbery and theft
insurance or GPS product liability insurance and third party liability insurance, and the first beneficiary of the policy shall be Party A and/or a third party designated by Party A. Of which, the insurance amount of the car loss insurance, robbery
and theft insurance or GPS product liability insurance shall not be less than the loan amount, while the insurance amount of third party liability insurance shall be no less than RMB100,000, and the insurance period shall cover the loan period. 

(4) Responsible for undergoing the registration for security interest of automobile collateral or release such security interest, and undertake the losses of
Party A or Party A’s partner financial institution resulted from the defects of the collateral or Party B’s fault. If the secured party entrusts Party B or any third party institution designated by Party B to keep the automobile
registration certificate of security interest, Party B shall not return the certificate to the customer without Party A’s confirmation. 
 (5)
Responsible for daily management and monitoring of vehicles, including but not limited to installing GPS on vehicles, monitoring GPS data and sending GPS data per Party A’s requirements, if any abnormity is discovered, Party B shall report to
Party A in writing on the next day of the date of knowing or should have known such abnormity, and take risk management and asset preservation measures per Party A’s requirements. 

  
 3 

 4.2.3 Loan Management Services 

(1) Help Party A closely monitor risks of customers, if Party B discovers any abnormity of such a customer, it shall inform Party A within 5 calendar days and
take risk management and asset preservation measures per Party A’s requirements. 
 (2) Help Party A collect loans legally, including but not limited
to repayment reminder, arrears collection and lawsuit (arbitration). Party B’s collection manners shall be legal and rational, if the collection manners adopted by Party B are not consistent with Party A’s requirements, Party B shall
undertake the losses of Party A or Party A’s partner financial institutions resulted hereunder. 
 (3) Subject to the requirements and consignments of
Party A or Party A’s partner financial institutions, dispose of vehicles, exercise auto mortgage right and synchronize the information to Party A. Proceeds from collateral discount, sale and auction should be used to repay the principals,
interests, penalty interests and other related expenses of Party A or Party A’s partner financial institutions with priority, if the proceeds from collateral disposal are not enough to repay all loans, Party B still needs to help Party A
collect the loans and fulfill its subscription liability. 
 4.2.4 Asset Subscription Liabilities 

(1) Fulfill asset subscription liabilities in accordance with the convention set out in Article 7.1 in this Agreement. 

(2) When Party B and/or the affiliated companies of Party B make plans for issues that may have impact on the operation capability and collaborative business,
including but not limited to change of organization structure of the company, change of business operation model, change of product status, execution or change of agreement that may have impact on this cooperation agreement or interest of Party A,
Party B shall notify Party A in writing at least 15 working days before occurrence of the aforesaid issues. 
 (3) Upon occurrence of issues that may have
impact on Party B’s operation capability and collaborative business of Party B and/or the affiliated companies of Party B, including but not limited to material negative change of operation status, that may result in huge amount of fine by
competent authorities, material legal dispute, negative events (including lawsuit) involving the actual controller and key management among others, Party B shall notify Party A in writing at least 5 working days before occurrence of the aforesaid
issues. 
 (4) If Party B fails to provide sufficient fund for subscription, Party A shall have the right to terminate the granting of loan under this
agreement. 

  
 4 

 4.2.5 Other Rights and Liabilities 

(1) Party B acknowledges and warrants that Party B shall not execute any other loan agreement other than the Automotive Financing Loan Agreement with
customers, except for the written documents confirmed by Party A to be used for the registration of the security interest of automobile collateral or release such security interest, or release such security interest. In addition, any difference
between such documents and the Automotive Financing Loan Agreement shall be subject to the latter for the identification of liabilities of customers. In the event that Party B fails to fulfill the aforesaid convention, Party B shall assume all
the loss caused by Party B to Party A, its financial institution partners and customers, and Party A shall have the right accordingly to terminate unilaterally their cooperation under this agreement and/or require Party B immediately fulfill its
asset subscription liabilities unconditionally regarding the customers’ loans; 
 (2) Party B shall not collect any fee for assisting Party A in
providing loan services and if Party B fails to fulfill the aforesaid convention, Party B shall assume all the loss caused to Party A and the customers and Party A shall have the right accordingly to terminate unilaterally their cooperation under
this agreement. 
 4.3 Common Rights and Liabilities of Party A and Party B 

4.3.1 Joint consultation and cooperation model. If any adjustment shall be made during the terms of cooperation, the two parties shall consult with each other
in advance. 
 4.3.2 Jointly handle any dispute from customers and deliver documentary evidence relating to client among others 

4.3.3 Jointly improve channels and optimize functions among others 

4.3.4 Use logo in accordance with the way agreed by the two parties within the term of cooperation 

Article 5     Function and Management of Accounts 

5.1 Party B shall open an settlement account 1 at Party A with account no. of [REDACTED]5. The interest of
such deposit in settlement account 1 shall be calculated at the the most recent current deposit rate published by the People’s Bank of China and Party A shall pay interest calculated based on its interest settlement rule to Party B. The use of
such account shall include the following: 
 5.1.1 Receiving service fee: Receive service fee paid by Party A to Party B in accordance with the provisions
under Article 6.3 in this agreement; 
 5.1.2 Receiving account interest: Receive interests settled for settlement account 1 and settlement account 2; 

 
  

	5 	Confidential treatment requested 

  
 5 

 5.1.3 Receiving payment transferred from other accounts: Receive amount transferred from settlement account 2;

 5.1.4 Paying subscription amount: If the balance of the settlement account 2 is lower than the subscription amount of the relevant loan asset, then Party
A is authorized to deduct the subscription amount from this account. 
 5.2 Party B shall open the settlement account 2 at Party A with account no. of
[REDACTED]6. The fund in this account shall be monitored by Party A and Party B shall not transfer or withdraw freely. The interest of such deposit in settlement account 2 shall be calculated at
the the most recent current deposit rate published by the People’s Bank of China and Party A shall pay interest calculated based on its interest settlement rule to Party B and transfer the interest settled from the settlement account 2 to the
settlement account 1 regularly. The use of such account shall include the following: 
 5.2.1 Receiving service fee: Receive service fee paid by Party A to
Party B in accordance with the provisions under Article 6.3 in this agreement; 
 5.2.2 Depositing the subscripting fund: Party B shall deposit sufficient
fund in the account in accordance with provision under this agreement; 
 5.2.3 Paying subscription amount: When Party B fulfills its subscription liability
in accordance with provision under this agreement, Party A shall the right to deduct the subscription amount from this account. 
 Article
6.    Loan granting, interest rate collecting and fees sharing 
 6.1    Loan Granting 

Party A shall advance the loan to the account designated by the auto seller according to client’s entrust and subject to the provisions of the
“Automotive Financing Loan Agreement”, once the loan granting conditions under Automotive Financing Loan Agreement have been met. 

6.2    Interest Rate 
 6.2.1
Party A charges interest rate based on the fixed rate, the specific interest rate is subject to that presented to the customers. 
 6.2.2 In
case the customers fails to fully pay the principles or interests due on the due date then, Party A has right to collect default interest at rate of [[REDACTED]7]of agreed rate in accordance to
the provision in 6.2.1, the default interest is calculated based on amount and days of overdue. 
  

 

	6 	Confidential treatment requested 

	7 	Confidential treatment requested 

  
 6 

 6.3    Service Fees 

6.3.1 Party A shall pay the Service fee 1 in accordance to the below provisions as Party B provides the services such as partner dealers
expansion and customer acquisitions etc. for the cooperation business under this agreement: 
 [REDACTED]8 
 Party B is acknowledged and agreed that: Party A shall pay the Service fee 1 of the loan
to the settlement account of Party B at the next day of the date of loan granting; In case the client prepaid the loan between the date of granting to the second repayment date, Party B irrevocably authorizes Party A to directly deduct the fees from
the Service fee 1 to be paid to Party B after the date of settlement, and the amount of deduction should equal to Service fee 1 paid on the settled loan. 

6.3.2    Party A shall pay the Service fee 2 in accordance to the below provisions as Party B provides the customer
services for the cooperation business under this agreement:     

[REDACTED]9 

Party B is acknowledged and agreed that: Party A shall pay the Service fee 2 of the loan to the settlement account of Party B at the next day
of the date of loan granting; In case the client loan meets all conditions below, Party B irrevocably authorizes Party A to transfer the Service fee 2 of the loan to the settlement account 1 at 120 calendar days after the date of loan granting. 

 

	(i)	The pledged automobiles shall complete the security interest registration as required by Party A within 120 calendar days from the loan granting date; 

 

	(ii)	There is no breach behavior stipulated in the Automotive Financing Loan Agreement within 120 calendar days from the loan granting date. 

Party B acknowledges and agrees that if the customers’ loan is settled early within 120 calendar days from the loan granting date, Party A shall transfer
Service Fee 2 from Settlement Account 2 to Settlement Account 1 on the next day of the settlement day, and deduct the fine for the loan from Settlement Account 1 on the same day. The fine amount is equal to the amount of Service Fee 2 paid for the
settled loan. 
  
  

	8 	Confidential treatment requested 

	9 	Confidential treatment requested 

  
 7 

 6.3.3 In the event that Part B provides the collection, preservation, recovery, automobile disposal and
litigation services to Party A for cooperation business under this agreement, Part A shall pay Service Fee 3 per the following provisions: 
 [REDACTED]10 
 Party B acknowledges and agrees that Party A shall pay the monthly Service Fee 3 payable for each loan
to Settlement Account 2 on the next day of the repayment date, and transfer Service Fee 3 in Settlement Account 2 to Settlement Account 1 on the next day of the settlement day. If Party A has paid the expense resulted from collection, preservation,
recovery, automobile disposal and litigation, Party A shall have the right to deduct an amount equal to the amount of the expense paid by Part A, from Settlement Account 1 or Settlement Account 2 

6.3.4 As Party B provide the loan asset subscription service for the cooperation business under this agreement, Party A shall pay Service Fee 4 per the
following provision. 
 [REDACTED]11 

Party B acknowledges and agrees that Party A shall pay Service Fee 4 payable for the prior quarter to Settlement Account 1 at the beginning of the first month
of each quarter. If either Party A or Party B revises this agreement on the asset subscription and/or service fee payment methods, Party A shall have the right to adjust the payment standards for Service Fee 4, and sign a supplementary agreement
separately. 
 6.4 Invoice 
 Party B shall issue the special
invoices for value-added tax, based on the relevant period (take month as unit) and the paid-up service fee, and per the standards required by Party A, to Party A. The invoices shall be mailed to Party A
within the first 10 business days of the next month. 
 6.5 Other Expenses 

6.5.1 For other expenses occurred when carrying out the cooperation business under this agreement, both party shall bear their respective expenses. 

6.5.2 Party A shall bear the expense related to People’s Bank of China credit information and public security bureau inquiry credit information, and the
expense related to the leased data line between Party A and People’s Bank of China Credit Reference Center and the Ministry of Public Security. Party B shall bear the expense related to Party B’s access to other data source, and the
expense related to the leased data line between Party B and other data providers. 
 6.5.3 For the expense arising from the data sharing between both
parties, and the expense arising from the leasing of data lines from telecommunication operators for direct connection between systems, Party B shall bear the expense for the main lines, while Party A shall bear the expense for the standby lines.
Neither party shall charge the other party transaction fee or any other expense for system connection, except for the above expenses. 
  

 

	10 	Confidential treatment requested 

	11 	Confidential treatment requested 

  
 8 

 Article 7    Asset Subscription 

7.1 Asset Subscription 
 7.1.1 Both parties agree and
acknowledge that in case of any situations occurring to the loan as below, Party A has the right to declare the acceleration of maturity of such loans, and Party B shall unconditionally subscribe underlying loan assets and make subscription payment,
with the subscription amount paid by Party B no lower than the remaining principal, interest, penalty and other related expenses of the subscription asset: 

(1) Party B fails to provide Party A with photocopies of qualified materials as required by Party A in 30 natural days (inclusive) after the loan disbursement
date, such as the automobiles’s purchase voucher, valid certificate of automobile-related products (services), automobile registration certificates bearing the information of ownership registration, etc., Party B shall immediately pay the
subscription amount to Party A; 
 (2) Party B fails to provide Party A with photocopies of vehicle registration certificates bearing the security interest
registration information in 120 natural days (inclusive) in compliance with Party A’s requirement, Party B shall immediately pay the subscription amount to Party A; 

[REDACTED]12 

7.1.2 Party B acknowledges and agrees that the daily balance of the subscription amount at the settlement account 2 shall be no less than [REDACTED]13 
 If the balance of the subscription amount at the settlement account 2 is less than [[REDACTED]14], Party A is entitled to stop the disbursement of the additional loan under this agreement. 
 In the
event of holidays, Party B shall replenish the subscription fund the business day prior to the holiday to ensure the balance of the subscription fund meets the requirement of this agreement during the holiday. 

7.1.3 Applicable period: from the effective date of this agreement to three years after the expired date of the client’s obligation fulfillment period.

 7.1.4 Regardless of if there are any guarantors, the collaterals ( or cash deposit) provided by 3rd
parties (including Party B) and collateral provided by the customer, Party A has the right to request Party B to assume the asset subscription obligation first. 
  

 

	12 	Confidential treatment requested 

	13 	Confidential treatment requested 

	14 	Confidential treatment requested 

  
 9 

 7.1.5 In case that the variation between the vehicle purchase price and the vehicle price at the time of
application reaches up to 5% or is more than RMB2,000, Party A has the right to declare the acceleration of maturity of such loan and ask Party B to assume asset subscription obligations and to make subscription payment. 

7.1.6 In the event of any overdue or abnormal conditions at the customer’s side, Party B shall dispose the underlying automobiles under the authorization
of Party A or Party A and its partner financial institutions . On the date of receiving the disposed automobiles or repayment from the automobile disposal, Party B shall unconditionally subscribe underlying loan asset. 

7.1.7 If Party B informs Party A the failure to proceed with the security interest registration on the automobile collateral, Party A has the right to declare
the acceleration of maturity of such loan and ask Party B to assume asset subscription obligations and to make subscription payment. 
 7.1.8 Party B shall
provide Party A with qualified materials as required by Party A at agreed time and make sure the materials provided to Party A are true, complete and valid; or otherwise, Party A has the right to declare the acceleration of maturity of such loan and
ask Party B to assume asset subscription obligations and to make subscription payment. 
 7.1.9 In the event of any complaints relating to the
customers’ loan or any lawsuits or arbitrations relating to automotive sales and purchase at the customers’ side, Party A has the right to the acceleration of maturity of such loan and ask Party B to assume asset subscription obligations
and to make subscription payment. 
 7.1.10 Except for those set forth in Article 7.1.1, Article 7.1.4 – 7.1.9, if Party A or B deems it necessary to
require Party B to fulfil its asset subscription obligation during the loan period, Party B shall subscribe the underlying loan asset and make subscription payment at the agreed date. 

7.2 Matters related to the Security Interest on the Automobile 

7.2.1 Party B must assist Party A in handling the security interest registration and release of the pledged automobiles, in which Party A and/or 3rd Parties designated by Party A are secured parties. 
 7.2.2 As mandated by Party A, Party B shall dispose
the collaterals at discount, auction or sale, etc. The proceeds so raised will be used to repay the remaining principal, interest, penalty and other related expenses to Party A or its partner financial institutions in priority. 

  
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 Article 8    Data 

8.1 Data Sharing 
 8.1.1 Party A will provide Party B with
external credit reference data legally authorized by customers in accordance with the relevant laws and regulations for the purpose of verification by Party B for business cooperation. Save for credit reference by People’s Bank of China and
enquiry from public security bureau, Party B will provide Party A with credit reference data of other customers legally authorized by them. No credit reference data shall be disclosed to organizations other than the contracting parties of the
cooperation agreement, nor used for illegal purpose. 
 8.1.2 Party A and Party B shall share loan approval materials, risk investigation result, form of
agreements, loan and transaction information to the other party in the process. 
 8.1.3 Party B shall provide Party A with the information of Party B,
other affiliates and the connected entities controlled by the beneficial owner Party B (including but not limited to financial statement, auditor’s report, financial breakdown, taxation data, shareholding structure, financings, evidence for the
availability of financings and data of asset operation) on a regularly basis (at lease on quarterly basis) and guarantee the truthfulness, completeness and effectiveness of the information above for the purposing of allowing Party A to evaluate the
operation and the capability for asset acquisition of Party B on a timely manner. 
 8.1.4 For the purpose of engaging in further cooperation in automobile
financing by both parties, Party B shall provide Party A with the overall operation data of automobile financing of Party B and its affiliates on a monthly basis, including but not limited to business model, forms of products, borrowing amount,
balance of operation, delinquency data, change of organization structure and market channels, etc. 
 8.1.5 Party B shall provide Party A with the monthly
statement or breakdown of bank account for the principal (in RMB and foreign currency) of Party B. 
 8.2 Data Management 

8.2.1 To the extent allowed by the laws, the product data are stored in the host systems of both parties. Financial data stored and managed will be maintained
confidential and processed by both parties in accordance with the regulations and compliance requirement. Both parties shall adopt effective technology to safeguard the information security of clients and protect their rights. They shall also
prepare protection clause for information security and protection of client’s rights, incident protocol and obligation for compensation. In the event of the occurrence of incidents that have to be reported as required by the regulator or may
potentially cause systematic and regional information technology risk, one party shall immediately inform the other party with the impact of the incident, handling and rectification measures. 

8.2.2 Without the written consent from Party A, Party B shall make no unauthorized use of the People’s Bank of China credit reference data (including but
not limited to variables and rating of People’s Bank of China) enquired by Party A and the results achieved by Party A with various risk models and rules. Such data shall not be used for supporting other businesses of Party B and its
affiliates. 

  
 11 

 Article 9    General Regulations 

9.1 Off-Balance Sheet Assets 

In the event that Party A has the intention to sell or transfer the clients borrowings (the “Off-Balance Sheet
Assets”) under this agreement, Party B shall provide reasonable assistance and make arrangement, including but not limited to the execution of necessary documents/commitments/notice. 

9.2 Syndicated Loans 
 9.2.1 Party A is entitled to cooperation
with other financial institutions (the “partner financial institutions”) to jointly grant clients with loans under this agreement. Party B shall fulfill the obligations under this agreement with regard to the provision of loans jointly by
Party A and other financial institutions and shall raise no dispute for the reason that Party A is not the sole borrower. 
 9.2.2 For granting loans
jointly by Party A and other partner financial institutions to customers under this agreement, any lenders enjoys the same interests to that of Party A and Party B shall fulfill the obligation for asset acquisition in accordance with this agreement
made in this agreement to any lenders. Lenders are allowed to allocate their interests in their sole discretion and Party B shall not make that as a defense for the fulfillment of the obligation for asset acquisition. 

9.3 Confidentiality 
 9.3.1 Both parties shall maintain the
information of the other party received or made available, in any formats, regarding to the content below for the execution of this agreement (or the execution of any other agreements as required by this agreement) straightly confidential and shall
not disclose or make use of any information below to any third parties other than the regulators departments: 
 (1) this business cooperation; 

(2) the detail of negotiation of this business cooperation; 

(3) credit reference data, clients and transaction information provided for this business cooperation; 

(4) other businesses, financials and other materials of both parties, including future planning and objectives. 

  
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 9.3.2 Exceptions 

Notwithstanding the foregoing, the disclosure or use of business-related confidential materials is allowed via the method or scope described as below: 

(1) Disclosure or use as stipulated or required by regulators governing Party A or B; 

(2) Disclosure or use as required by any judicial, arbitrational or other similar proceedings relating to the execution of other agreements for the purpose of
fulfilling this agreement or under this agreement. 
 9.3.3 The confidentiality obligations, starting from the signing date of this agreement, shall not
terminate until such information becomes available to the public or permitted by the disclosing party, rather than subject to the termination of this agreement. 

Article 10    Default 
 10.1 Events

 The following circumstances (“Default Events” hereafter) shall constitute an event of default by a defaulting party: 

 

	 	(1)	The defaulting party violates any clause of this agreement which is not remediable or which the defaulting party failed to make remedies in 10 natural days after receiving the written notification from the other party
asking the defaulting party to make remedies; 

  

	 	(2)	The defaulting party violates any applicable laws and the violation of which will directly violate this agreement or result in losses to the non-defaulting Party;

  

	 	(3)	The defaulting party violates other contracts signed with Party A (including but not limited to credit agreements and loan agreements) and supplementary agreements. 

10.2 Default Notification 
 10.2.1 In the event of the occurrence
of the Default Events, the defaulting party shall notify the non-defaulting party as soon as practicable, but under any circumstances (except for force majeure) no later than 5 natural days after its awareness
of relevant Default Events. 
 10.2.2 After the occurrence of the Default Events and to the extent of not jeopardizing the
non-defaulting party’s right to claim for damages, the non-defaulting party may notify the defaulting party in writing its option to continue its fulfillment of
this agreement or to terminate the cooperation hereunder in 60 natural days after the earlier of receiving from the defaulting party the notice of default or being made aware of such Default Events. 

10.2.3 This agreement will terminate after the defaulting party receives the termination notice with regards to the cooperation hereunder. 

  
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 10.2.4 Default losses and compensation for damages 

(1) The non-defaulting party has the right to request the defaulting party to eliminate the impact of the default;

 (2) The non-defaulting party has the right to terminate the cooperation hereunder; 

(3) The defaulting party shall be liable for compensation to the non-defaulting party for all direct losses arising
from or as a result of the default event of the defaulting party; 
 (4) The defaulting party shall compensate for the losses suffered by the non-defaulting party as a result of the defaulting party’s malpractice (including but not limited to systematic mis-operation or
ill-operations) 
 Article 11    Termination of This Agreement 

11.1 In the event of any of the following circumstances, any party has the right to unilaterally terminate this agreement: 

(1) Regulators governing Party A (ie China Banking Regulatory Commission or People’s Bank of China and their branches) have made material changes over
their policies relative to the signing date of this agreement or request the termination of this agreement in writing; 
 (2) Government agencies or
regulators have stipulated any other applicable laws or regulations or conducted new explanations or modifications over prevailing applicable laws or regulations as a result of which, both parties are unable to conduct the cooperation or any party
is unable to acquire full interest under any material clause hereunder; 
 (3) Any material adverse changes in any party make it impossible to continue to
fulfill this agreement or cause material damage to both parties; 
 (4) With regard to Article 9 of this agreement, the party complying with the terms of
this agreement is entitled to terminate the cooperation under this agreement in the event of default. 
 11.2 This agreement will terminate upon its expiry
unless agreed otherwise in this agreement. 
 Article 12    Supplementary Articles 

12.1 Both Party A and Party B and Jincheng Bank Co., Ltd. enter into “Automotive Financing Cooperation Agreement Between Shenzhen Qianhai WeBank Co.,
Ltd and Jincheng Bank Co., Ltd. and Shanghai Cango Investment and Management Consultation Service Co., Ltd” with document number Weiyin (CGW-Jincheng, Cango) Hezi 2017 No.001. (the “Original
Cooperation Agreement”, containing all supplementary agreement signed under the Original Cooperation Agreement). The Original Cooperation Agreement will expire on March 31 2018 (inclusive), but the loan to existing customers still applies
to the Original Cooperation Agreement till all outstanding loan of the existing customers are cleared. 

  
 14 

 12.2 For the outstanding issues of this agreement (including cooperation on used car financing), both parties
will negotiate and enter into a separate agreement. 
 12.3 The annexes and supplemental agreements of this agreement constitute an integral part of this
agreement. 
 12.4 Any dispute arising between Party A and Party B during the implementation of this agreement shall be settled through negotiation between
the two parties. If the negotiation fails, either party may file a lawsuit with the people’s court of the place where the plaintiff is located. 
 12.5
The conclusion, interpretation and dispute settlement of this agreement are governed by the laws of the People’s Republic of China, and the rights of both parties are protected by the laws of the People’s Republic of China. 

12.6 This agreement shall be signed by the legal representatives or authorized agents of Party A and Party B at the signing date, and shall be effective after
signed (or affixed name seals) by the legal representatives or authorized agents of Party A and Party B, and affixed with official seals/ special seals for contracts. 

12.7 The original version of this agreement is in quadruplicate and all have the same effect. Each party holds two copies 

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Party A (seal): [seal] 
 Legal representative (principal) or
authorized agent (signature or seal): /s/ Min Gu 
 Date of signature: April 4, 2018 

Party B (seal): [seal] 
 Legal representative (principal) or
authorized agent (signature or seal): /s/ Xiaojun Zhang 
 Date of signature: April 4, 2018 

  
 16

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