Document:

EX-10.31

 Exhibit 10.31 

Confidential 
 To Shanghai Tong Gou Information Technology Co.,
Ltd., 
 Company address: Room 302, 3/F, Tianyaoqiao Road, Xuhui District, Shanghai, China 

Addressee: Li Wei 
 Date: November 15, 2018

 Dear Sir / Madam, 
 Bank credit granting (Letter of
credit granting No.: CN11095026159-181011) 
 On the basis of the recent discussions with you, the Bank hereby confirms that it agrees to grant you
the following non-committed bank credits (the “Credit Granting”) in accordance with the specific terms and conditions as set out in the letter of credit granting, after the following guarantees and
preconditions have been completed in a satisfactory manner to us. 
 Although there may be any contrary provisions in this letter, the Credit Granting
provided by the Bank is subject to the following conditions: 
  

	 	•	 	 The Bank reserves the right to unilaterally suspend or cancel any unused Credit Granting or to decide whether
to allow the use of any unused Credit Granting; 

  

	 	•	 	 The Bank reserves the right to re-examine the Credit Granting at any
time, at least once a year; and 

  

	 	•	 	 The Bank reserves the right to request immediate repayment of the relevant loans, including the right to
request immediate cash guarantees for expected liabilities and contingent liabilities. 

 The Credit Granting (if any) that you have
used before signing the letter of credit granting are deemed to be Credit Granting under the letter of credit granting and are subject to the relevant provisions of this letter and are guaranteed by the guarantees mentioned in this letter. 

This letter of credit granting consists of the main body of the letter, special credit granting terms, comprehensive credit granting terms and relevant
appendices (if any). 

  
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 Borrower: Shanghai Tong Gou Information Technology Co., Ltd. 

Lender: HSBC Bank (China) Co., Ltd., Shanghai Branch 
 Debtors:
the Borrower and each person (the “guarantor”) who provides any guarantee (the “guarantee”) in the “guarantee” paragraph 

Credit Granting / Amount: Import Credit Granting of not more than RMB 10,000,000, including: 

(a) A post-shipment buyer’s loan credit granting of not more than RMB 10,000,000 for payment to an approved supplier in connection with credit sales or
for payment of documents under documentary collection. 
 Financing documents: this letter of credit granting and each document (“guarantee
document”) containing the guarantee. 
 Guarantee: As a guarantee, in addition to the guarantees (if any) required under the relevant special terms on
the Credit Granting, the Bank must also hold: 
 (1) The deposit pledge provided by Shanghai Tong Gou Information Technology Co., Ltd.; 

(2) The warranty issued by Wang Ying and Zeng Qingchun; 
 (3)
The warranty issued by ECMOHO (Hong Kong) Limited and Shanghai ECMOHO Health Biotechnology Co., Ltd.; 
 (4) Pledge of accounts receivable provided by
Shanghai Tong Gou Information Technology Co., Ltd. 
 The Borrower confirms that it has not owed any debts under the subrogation claim of any foreigner due
to performance of any warranties or guarantees provided by the foreigner for the debts that the Borrower has owed to a Chinese domestic creditor (the “Subrogation Debt”). The Borrower undertakes that in the event of any Subrogation Debt,
it will immediately notify the Lender and will not use the Credit Granting or conduct or continue any new transactions warranted or guaranteed by foreigners (except as otherwise permitted by the relevant foreign exchange administration) before the
irrevocable full settlement of the Subrogation Debt. 
 Preconditions: Before the Borrower uses any Credit Granting, the Lender should have received the
documents and certificates listed below and the form and substance thereof are satisfactory to the Lender: 
 (1) the copy of all government approvals and
supporting documents relating to the status of the Borrower that are certified to be identical to the original. 
 (2) The original of the Borrower’s
internal authorization document or a copy that is proved to be the same as the original, the document is approved in accordance with the Borrower’s articles of association and relevant laws or (authorized by others) the Credit Granting under
the letter of credit granting and authorizes a or a number of specific persons to sign and/or submit the letter of credit granting and other documents and notices related to the Credit Granting under the letter. 

(3) one or more guarantees are provided for the Credit Granting; 

  
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 (a) the original of the guarantee documents duly signed by the parties; 

(b) the copy of all government approvals and supporting documents relating to the status of the guarantor that are certified to be identical to the original;

 (c) an original copy of the guarantor’s internal authorization document or a copy certified to be identical to the original, which is approved in
strict accordance with its organizational documents and relevant laws or (authorized by others) to provide guarantee and one or more specific person are authorized to sign and/or submit the guarantee documents and other relevant documents and
notices; 
 (d) Proof for the guarantee which has been properly created and improved, if applicable; and 

(e) If the guarantee is an individual warranty, the original personal net asset statement issued by the warrantor and (if required by the Lender) the
corresponding asset certification materials of the warrantor. 
 (4) Legal opinions issued by the relevant qualified lawyers accepted by the Lender on the
relevant matters of the financing documents, if applicable. 
 (5) If the place of establishment of a guarantor is different from the jurisdiction region of
the guarantee document to which it is a party, the guarantor has specified the service agent to the Lender’s acceptance which is appointed for the service of the judicial proceedings of the people’s court of the said jurisdiction region,
and the certificate of such appointment. 
 (6) The Borrower has opened a loan issuance account at the Lender. 

(7) other documents or materials required to be submitted by the Borrower before using the credit in the special credit granting terms of certain types of
credit granting. 
 (8) other documents or materials that the Lender may reasonably require in connection with the letter of credit granting or the credit
granted under it. 
 Statement: The Borrower makes the following representations and warranties to the Lender: 

(1) The Borrower or any of its subsidiaries and any director, manager, employee, agent or affiliated person thereof does not serve as or owned or controlled by
the following persons: (a) the target or subject of sanctions (“Sanctions”) enforced or exercised by the Office of Foreign Assets Control of the US Treasury, the US State Department, the UN Security Council, the European Union, the UK
Treasury, the Hong Kong Monetary Authority, or the relevant Chinese authorities, or (b) a country or region that is located, established or residing in a country or region that is the target or subject of Sanctions or whose government is the
target or subject of Sanctions, currently including but not limited to the Crimea region, Cuba, Iran, North Korea, Sudan and Syria; 

  
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 (2) The Borrower does not know and does not take any actions that may directly or indirectly lead to
violations of any applicable anti-bribery laws (including but not limited to the UK Anti-Bribery Act of 2010 (the “UK Anti-Bribery Act”) and the US Foreign Corrupt Practices Act of 1977 (the “FCPA”)) and to its knowledge, that
any director, officer, agent, employee or manager of the Borrower or its subsidiaries or other persons acting on behalf of the Borrower or its subsidiaries does not know or take any such action; and 

(3) The business practice of the Borrower and (as far as it knows) its affiliates is in line with the UK Anti-Bribery Act, FCPA and other similar laws,
regulations or provisions; they have developed and maintained policies and systems to ensure that their business operations will continue this compliance, and such policies and systems are reasonably expected to ensure such compliance. 

Commitment: The Borrower shall keep the following commitments during the period in which the Borrower may use the credit granted and as long as there is any
outstanding payment under the letter of credit granting: 
 (1) Without prejudice to any guarantee or other priority (if any) enjoyed by the Lender, the
Borrower shall ensure that the credit granted under this letter is at least equal to all current and future unguaranteed borrowings of the Borrower. 
 (2)
Without the prior written consent of the Lender, the Borrower shall not establish or attempt to establish or permit any collateral, floating guarantee, charge, pledge, lien or other prioritized rights on all or any part of its existing or future
assets, or permit any liens or other prioritized rights to be generated on such assets (except for liens that are created in accordance with the law in the course of normal transactions). 

(3) The Borrower shall immediately submit the audited or (if there is no audited semi-annual financial statements at that time) unaudited semi-annual
financial statements and audited annual financial statements of the debtor which are prepared by a qualified accountant to the Lender upon completion. The semi-annual financial statements must be submitted to the Lender at the latest within 90 days
after the end of the half-year financial year, while the annual financial statements must be submitted to the Lender within 120 days after the end of the financial year. 

(4) The Borrower shall, upon request, provide the Lender with other information on the financial or operating status of the Borrower that is reasonably
required by the Lender. 
 (5) The Borrower shall not directly or indirectly use the credit funds for the following purposes, nor shall it directly or
indirectly lend, pay or otherwise supply the credit funds to any subsidiary, joint venture partner or other persons for the following purposes, (a) funding the actions or business of any person who is the target or subject of the Sanctions or
the business with such person, or funding any action conducted in the country or region which is the target or subject of the Sanctions or whose government is the target or subject of the Sanctions at that time, or (b) in any other way, causing
any person (including any person participating in the Credit Granting, whether as an underwriter, intermediary, investor or any other party) to breach the Sanctions. 

  
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 (6) The Borrower shall ensure that no part of the credit funds is directly or indirectly used for payments
that may result in a breach of any applicable anti-bribery laws. 
 (7) The Borrower shall comply with all other commitments (if any) in the special credit
granting terms. 
 (8) The Borrower shall promptly report to the Lender the information of intra-group related party transactions whose total amount reaches
10% of its net assets at that time, and provide details required for the Lender to understand and satisfy the relationship between the Borrower and the counterparty to the relevant contract as well as the nature, transaction volume, size and pricing
mechanism of the intra-group related party transactions. 
 (9) The Borrower shall abide by the borrower’s commitments listed in Article 21 of the
Interim Administrative Measures for Working Capital Loans promulgated by the China Banking Regulatory Commission on February 12, 2010. 
 (10) The
Borrower shall open a fund withdrawal account at the Lender, or (in case of a fund withdrawal account opened at a bank other than the Lender), upon request, provide the Lender with the fund inflows and outflows of the account. 

(11) In order to ensure and monitor the Borrower’s solvency, according to Article 31 of the Interim Administrative Measures for Working Capital Loans
promulgated by the China Banking Regulatory Commission on February 12, 2010, the Borrower shall, within six months after the use of the credit granted, collect 35% of its sales proceeds through the account opened at the Lender, thus
facilitating the Lender to monitor the withdrawal of funds. 
 Governing law: This letter of credit granting is governed by and interpreted in accordance
with Chinese laws. 
 Jurisdiction: The Borrower agrees to accept the jurisdiction of the people’s court at the place where the Lender’s principal
place of business is located. The Lender has the right to sue the Borrower in the people’s court in any other jurisdiction for this letter. 
 Place of
performance of the contract: The place where the letter of credit granting is performed is the location of the principal place of business of the Lender. 

Address and service: The Borrower confirms that the address listed herein or otherwise kept with the Lender for the purpose of the communication, or the
address of the Borrower or its service agent (if applicable) shall be the address of receiving the notice or document (including documents sent by a court or arbitration institution or in connection with a lawsuit or arbitration) hereunder or
related to the letter of credit granting or Credit Granting. In the case of any borrower, any such notice or document sent to or retained at or returned from the designated address above will be deemed to have been served on the borrower. 

Without prejudice to the Bank’s relevant rights under any other documents, the Bank may disclose any information that you provide or is related to you to
any member of the HSBC Group, the assignee or potential assignee of any partial credit granted, any supplier of the Bank or any creditor of you on a confidential basis. 

This credit granting offer is valid until the end of business on February 12, 2019. You may accept this credit granting offer during the above period. In
the event of no information of acceptance from you in the said period, the credit granting offer will be deemed invalid (unless otherwise agreed by the Bank). 

  
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 You are kindly requested to appoint your authorized signatory to sign a copy of this letter and return it to
the Bank to show your understanding and compliance with the terms and conditions of the letter of credit granting. 
 By signing a copy of this letter and
returning it to the Bank, you are deemed to have accepted that the credit granted under this letter is a non-committed credit, and any content under this letter, including any terms relating to preconditions,
representations and warranties, commitments or breach of contract (if any), will not prejudice the Bank’s right to suspend or cancel any unused credit, to disallow the use of any unused credit or to pursue any credit under the terms of this
letter at any time. 
 The Bank looks forward to establishing mutually beneficial and lasting business relationships with you. 

Best 
 Regards! 

HSBC Bank (China) Co., Ltd. Shanghai Branch 
 /s/ Fan Xiaodan 

Position: Business Director of Industry, Commerce and Finance Services 

Authorized Signatory: Fan Xiaodan 
 Accept the above letter of
credit granting 
 Shanghai Tonggou Information Science & Technology Co., Ltd. 

Shanghai Tonggou Information Science & Technology Co., Ltd. (seal) 

Wang Wei (seal) 
 Authorized Signatory: 

(Official Seal): 
 Shanghai Tonggou Information Science &
Technology Co., Ltd. (seal) 
 Date: 

  
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 Special credit granting terms 

Import credit granting 
 Purpose 

This credit granting may only be used to meet the Borrower’s needs for working capital, including the purchase of goods, raw materials and production
materials and other needs for working capital recognized by the Lender. 
 Service conditions for credit granted 

1. The currency used for credit granting is RMB or any other currency agreed by the Lender. 

2. Credit granted for post-shipment buyer’s loan (also known as unsecured import loan) relating to credit sales or for the payment of documents under
documentary collection will be used for the payment by the Lender to the approved supplier which is subject to the decision and alternation independently by the Lender from time to time. 

The service term of each credit granted under the Credit Granting will be not more than 90 days. 

The Borrower shall submit an service application for credit granting that is satisfactory to the Lender in both form and content, and provide the documents on
relevant transactions, including but not limited to copies of invoices, sales contracts, purchase orders and other trade documents, immediately upon submission of such application or upon request by the Lender independently, no matter prior to or
after the use of the credit granted. 
 The Borrower makes the following representations and warranties to the Lender that it has obtained the import or
export licenses applicable to and required for each underlying transaction and that in all material respects it will comply with the domestic and foreign laws and regulations of all jurisdictions relating to its operations, the documents it requires
to be issued by the Lender and the items covered by such documents (including, if applicable, the transportation and financing of relevant goods). 

Interest 
 The applicable interest rate for each
credit granting in RMB under the credit granting for the post-shipment buyer’s loan related to credit sales or used to pay documents under the documentary collection is 122% of the applicable benchmark loan interest rate issued by the
People’s Bank of China. During the service term of the credit granted, if the said interest rate changes, the applicable interest rate for the credit granting will remain unchanged. 

Expenses 
 The Borrower shall pay the Lender the
following expenses: 
 Expenses for handling import documents: 0.125%. 

Default interest 
 The Borrower shall pay a default
interest on the loan in RMB under the above-mentioned credit granting or the amount of the overdue payment (including the unpaid amount requested by the Lender) under overseas payment on behalf of others, from the payment date stipulated (including
the date) to the actual payment date (including a date before or after the judgment), at the following interest rate: 150% of the applicable interest rate for the credit granting as set out above. 

  
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 General credit granting terms 

1. Description 
 The following terms apply to the credit
granted by HSBC Bank (China) Co., Ltd. (operating through any one or more branches and sub-branches) (the “Bank”) to the Borrower and constitute an integral part of the letter of credit granting that
is applicable to the Borrower as amended from time to time (including special credit granting terms and appendices (if any), the “Letter of Credit Granting”). 

In the event that the terms and conditions are inconsistent with the rest of the Letter of Credit Granting, the other part of the Letter of Credit Granting
will prevail in the case of credit granting under the Letter of Credit Granting. 
 If the appendix to the Letter of Credit Granting (if any) is
inconsistent with the rest of the Letter of Credit Granting, the appendix shall prevail. 
 If the main text of the Letter of Credit Granting is
inconsistent with the special credit granting terms of a certain credit granting, the latter shall prevail in respect of such credit granting (but without prejudice to the Bank’s rights to unilaterally suspend or cancel any unused credit, to
disallow the use of any unused credit or to pursue any credit granted under the terms of the Letter of Credit Granting at any time). 
 2. Definition and
interpretation 
 2.1 Definition 
 For the purpose of the
terms and conditions and the Letter of Credit Granting, 
 The term “loan” refers to the loan or lending issued or will be issued under the credit
granting or the (as the case may be) unpaid principal balance of the loan or lending at that time. 
 The term “fixing date” means for a
calculation period: 
 (a) in the case of EURIBOR, the fixing date will be the first two TARGET days on the first day of the period; 

(b) In the case of HIBOR, the fixing date will be the first day of the period; 

(c) in the case of LIBOR, the fixing date will be the first two London working days on the first day of the period. 

In any case, if the above information differs from the market practices of the relevant interbank market, the fixing date will be determined by the Lender in
accordance with the market practice of the relevant interbank market (if the offer is usually given by leading banks in the relevant interbank market on several different dates, the fixing date will be the last day among these dates). 

The term “EURIBOR” refers to any of the following interest rates quoted at 11:00 am on the fixing date for the period in which the period for use of
the EUR and the credit granted and for use of the fund, if applicable, is the same for the purpose of a certain credit granting or (if applicable) use of funds: 

(a) the applicable interest rate on the screen; or 
 (b) (in case
of no applicable interest rate on the screen for the calculation period of use of the credit granted or (if applicable) use of the fund) the computative interest rate on the screen for use of the credit granted or (if applicable) use of the fund, or
the interest rate quoted by the Lender which is applicable in the relevant interbank market for the fund in EUR that may be borrowed in the relevant period (assuming that the Lender is required to accept a reasonable market amount of deposits in EUR
provided by the another bank for the relevant period); or 

  
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 (c) (in case of no applicable interest rate on the screen for the currency of use of the credit granted or
(if applicable) use of the fund) the interest rate quoted by the Lender which is applicable in the relevant interbank market for the fund in EUR that may be borrowed in the relevant period (assuming that the Lender is required to accept a reasonable
market amount of deposits in EUR provided by the another bank for the relevant period); 
 If any such interest rate is below zero, EURIBOR will be treated
as zero. 
 The term “working day” refers to the day when the Bank is generally opened for business in China. 

The term “HIBOR” refers to any of the following interest rates quoted at 11:00 am on the fixing date for the period in which the period for use of
the HKD and the credit granted and for use of the fund, if applicable, is the same for the purpose of a certain credit granting or (if applicable) use of funds: 

(a) the applicable interest rate on the screen; or 
 (b) (in case
of no applicable interest rate on the screen for the calculation period of use of the credit granted or (if applicable) use of the fund) the computative interest rate on the screen for use of the credit granted or (if applicable) use of the fund, or
the interest rate quoted by the Lender which is applicable in the relevant interbank market for the fund in HKD that may be borrowed in the relevant period (assuming that the Lender is required to accept a reasonable market amount of deposits in HKD
provided by the another bank for the relevant period); or 
 (c) (in case of no applicable interest rate on the screen for the currency of use of the credit
granted or (if applicable) use of the fund) the interest rate quoted by the Lender which is applicable in the relevant interbank market for the fund in HKD that may be borrowed in the relevant period (assuming that the Lender is required to accept a
reasonable market amount of deposits in HKD provided by the another bank for the relevant period); 
 If any such interest rate is below zero, HIBOR will be
treated as zero. 
 The term “HSBC Group” refers to HSBC Holdings plc, its subsidiaries, related companies, associated institutions and
organizations and branches thereof: members of or institutions under HSBC Group should give interpretations accordingly. 
 The term “calculation
period” refers to the period of calculation of the benchmark loan interest rate issued by the People’s Bank of China, SHIBOR, EURIBOR, HIBOR or LIBOR, which is set out in the special credit granting terms on use of the credit granted or
(if applicable) on use of the fund, in terms of use of a certain credit granted or (if applicable) use of funds. 
 The term “overseas entities”
refers to individuals holding a foreign passport (other than a Chinese passport) or other entities established outside China. 
 The term “interest
period” refers to each period determined under these terms and conditions for the calculation of interest on credit granting. 
 The term
“LIBOR” refers to any of the following interest rates quoted at 11:00 am on the fixing date for the period in which the period for use of the USD and the credit granted and for use of the fund, if applicable, is the same for the purpose of
a certain credit granting or (if applicable) use of funds: 
 (a) the applicable interest rate on the screen; or 

(b) (in case of no applicable interest rate on the screen for the calculation period of use of the credit granted or (if applicable) use of the fund) the
computative interest rate on the screen for use of the credit granted or (if applicable) use of the fund, or the interest rate quoted by the Lender which is applicable in the relevant interbank market for the fund in USD that may be borrowed in the
relevant period (assuming that the Lender is required to accept a reasonable market amount of deposits in USD provided by the another bank for the relevant period); or 

  
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 (c) (in case of no applicable interest rate on the screen for the currency of use of the credit granted or
(if applicable) use of the fund) the interest rate quoted by the Lender which is applicable in the relevant interbank market for the fund in USD that may be borrowed in the relevant period (assuming that the Lender is required to accept a reasonable
market amount of deposits in USD provided by the another bank for the relevant period); 
 If any such interest rate is below zero, LIBOR will be treated as
zero. 
 The term “London working day” refers to the day on which commercial banks are generally opened for business (including interbank lending)
in London (except Saturday and Sunday). 
 The term “interest rate on the screen” refers to: 

(a) In the case of EURIBOR, the Euro Interbank Offered Rate for the relevant period which is displayed on the EURIBOR01 page of the Thomson Reuters screen (or
any replacement Thomson Reuters page which displays relevant interest rate) or is displayed on another appropriate information service page that publishes the relevant interest rate in place of Thomson Reuters from time to time (unrevised,
recalculated or republished by the administrator), under the management by the European Money Markets Institute (or any other person responsible for managing the interest rate). If the page or service upon agreement no longer provides services, the
Lender may, after consultation with the Borrower, designate other pages or services that display the relevant interest rate; 
 (b) in the case of HIBOR,
the Hong Kong Interbank Offered Rate for the relevant period which is displayed on the HKABHIBOR page of the Reuters screen (or any replacement Reuters page which displays the relevant interest rate) or is displayed on another appropriate
information service page that publishes the relevant interest rate in place of Reuters from time to time. If the page or service upon agreement no longer provides services, the Lender may, after consultation with the Borrower, designate other pages
or services that display the relevant interest rate; and 
 (c) In the case of LIBOR, the relevant currencies and the London Interbank Offered Rate for the
relevant period which is displayed on the LIBOR01 or LIBOR02 page of the Thomson Reuters screen (or any replacement Thomson Reuters page which displays relevant interest rate) or is displayed on another appropriate information service page that
publishes the relevant interest rate in place of Thomson Reuters from time to time, under the management by the ICE Benchmark Administration Limited (or any other person responsible for managing the interest rate). If the page or service upon
agreement no longer provides services, the Lender may, after consultation with the Borrower, designate other pages or services that display the relevant interest rate. 

The term “entities” refers to individuals, enterprises, companies, legal persons or unincorporated entities. 

The term “SHIBOR” refers to the Shanghai Interbank Offered Rate. 

The term “use of credit granted” refers to loans, overdrafts or other withdrawals or uses of credit granted, or extensions or renewals thereof. 

The term “day of using credit granted” refers to the date on which the credit granted is used. 

The term “application for use of credit granted” refers to an application or a request for use of credit granted. 

  
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 The term “standard trade terms” refers to the standard trade terms of the Bank (as amended from
time to time). The Borrower may obtain, read and print standard trade terms on this website www.gbm.hsbc.com/gtrfsll or obtain standard trade terms from its account manager. The “client” mentioned in the standard trade terms refers to the
Borrower. 
 The term “TARGET2” refers to the Trans-European Automated Real-time Gross Settlement Express Transfer that was put into use on
November 19, 2007 on the basis of a single sharing platform. 
 The term “TARGET day” refers to the date on which TARGET2 provides payment
and settlement in EUR. 
 The term “overdraft” refers to the overdraft issued or to be issued under the overdraft credit granting or (as the case
may be) the outstanding principal balance of the overdraft at that time. 
 The term “computative interest rate on the screen” refers to the
interest rate calculated on the straight-line basis between the following two items (adjusted to the same decimal place of the two relevant interest rate on the screen) in terms of the EURIBOR, HIBOR or LIBOR for the use of a certain credit granted
or (if applicable) use of the fund: 
 (a) the applicable interest rate on the screen for a period shortening than the maximum period (with an applicable
interest rate on the screen for that period) for the calculation period of use of the credit granted or (if applicable) use of the fund; and 
 (b) the
applicable interest rate on the screen for a period beyond the minimum period (with an applicable interest rate on the screen for that period) for the calculation period of use of the credit granted or (if applicable) use of the fund, which will
subject to the quotation at 11 am on the fixing date in the currency concerned. 
 The term “foreign exchange rate” refers to the exchange rate
used in the relevant foreign exchange markets and determined by the Bank at that time when one currency is exchanged for another currency at the relevant time. The decision of the Bank is final and binding on the Borrower. 

The term “relevant interbank market” refers to the Chinese interbank market (in terms of the benchmark loan interest rate issued by the
People’s Bank of China, SHIBOR or Renminbi), the European interbank market (in terms of EURIBOR or EUR), the Hong Kong interbank market (in terms of HIBOR or HKD) or the London interbank market (in terms of LIBOR or USD). 

The term “Central Bank” refers to the People’s Bank of China (including its successor). 

The term “benchmark loan interest rate issued by the People’s Bank of China” refers to 

(a) the RMB benchmark lending rate over the same period with the credit granting for the use of a certain credit granted (except for the use of overdraft
credits) issued by the Central Bank that is valid on the date of using the credit granted; and (b) the one-year RMB benchmark lending rate for the daily overdraft balance or the balance of the use of
funds on a certain date issued by the Central Bank that is valid on that date. 
 The term “China” refers to the People’s Republic of China,
excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan for the purpose of the terms and conditions and the Letter of Credit Granting. 

The term “fund interruption cost” refers to the difference of Item (a) less Item (b) below (if any): 

  
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 (a) the interest that is presumed to be repayable and should have been received by the Bank on the last day
of the interest period for a loan repaid in advance, during the period from the date of receipt of the loan to the last day of the current interest period of the loan; 

(b) the gains that can be obtained the Lender for issuing a sum equal to the amount of the loan repaid in advance to the relevant interbank market, during the
period from the first working day after the date of receipt of the loan to the last day of the above interest period. 
 2.2 Interpretation 

(a) Any reference to the agreement or document refers to the agreement or document as amended, transferred, supplemented, renewed or re-stated from time to time. 
 (b) Any reference to the laws and regulations refer to the provisions as amended or re-enacted from time to time, including any alternative provisions. 
 (c) The word in the singular form includes its
plural form, and vice versa. 
 (d) The amount in currency B equivalent to the amount in currency A shall, at any time, be calculated at the purchase price
in currency A published by the Bank. 
 (e) The terms and conditions of the special credit granting of a certain credit granting under a credit granting
period (if applicable) shall only apply to such credit under the credit period (if applicable). 
 (f) If there are two or more Borrowers: 

(i) The “Borrower” should make explanation accordingly; 

(ii) The Letter of Credit Granting is binding upon each Borrower, even if the Letter of Credit Granting is unbinding upon any other Borrower or any other
person to whom it should be binding upon; 
 (iii) If all or part of the terms of the Letter of Credit Granting is unenforceable to any Borrower at any time
for any reason (including any Borrower’s failure to sign the Letter of Credit Granting), the letter of credit is still binding upon other Borrowers and executable as if the letter of credit is only made by such other Borrowers; 

(iv) The Bank may deal with any matter separately with any Borrower, including dissolving the Borrower’s liability at any degree without affecting the
liability of any other Borrower; and 
 (v) Any Borrower does not enjoy the rights or relief to which other Borrower is entitled. 

3 Calculation and payment of interest and other expenses 

3.1 The accrued interest or other fees paid periodically under all credit granting shall be calculated and collected by day according to the actual days on a
basis of 360 days a year, but the interest on the amount in GBP or HKD shall be calculated by day according to the actual days on a basis of 360 days a year. 

  
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 3.2 The Lender and the Borrower may separately agree on the interest rate for any credit granting, use of
any credit granting and any period. The interest rate shall be set out in the relevant application for use of credit granting or (if applicable) renewal notice, interest letter, amendment letter or other documents of the similar effect. 

3.3 If any reference interest rate (e.g. LIBOR) used in the Letter of Credit Granting is less than zero, for the purposes of this Letter of Credit Granting,
the interest rate shall be deemed as zero. 
 3.4 (a) The Borrower shall pay the interest arising from the use of the credit at the last day of each
interest period for use of each credit under a credit granting. The interest period for use of each credit is equivalent to the initial period for use of the credit, or the duration in the special credit terms separately agreed by the Borrower and
the Bank or in the application for use of credit granting for use of such credit. The interest period for use of credit granting begins from the date of using the credit granting or the last day of its previous interest period of used credit. 

(b) Notwithstanding the paragraph (a) above, if a used credit is repaid or should be repaid in full, repaid in advance or otherwise paid off in full, or
declared to be immediately and fully due and payable by the Bank, the current interest period for use of the credit shall end on the day when the credit is repaid or repaid in advance or paid off or should be paid (as published by the Bank). 

(c) Notwithstanding the paragraph (a) above, the Borrower and the Bank may separately agree on the interest payment arrangements for the credit granting
in the special credit terms of a certain credit granting. 
 3.5 The Borrower shall pay the default interest under the Letter of Credit Granting immediately
upon request by the Lender. 
 3.6 The compound interest is calculated based on the unpaid interest (including overdue payments, excess payments or default
interest on misappropriated funds) together with the default interest on overdue payments, excess payments or default interest on misappropriated funds for calculating, but should be due and payable immediately at any time. 

3.7 If a loan is fully or partially paid off before its maturity date (no matter whether the loan expires early, the Bank exercises its right to repay any
credit under the Letter of Credit Granting or the Borrower voluntarily repays the loan in advance), the Borrower should pay the cost of interruption of the funds to the Bank. 

4 Issuance of loan, use of credit granting and repayment 

4.1 Each credit or all credits under the Letter of Credit Granting are circulating credits. Any money used under such credit may be borrowed again in
accordance with the terms of the Letter of Credit Granting, and any credit that have been used and repaid may be reused on the first working day following the repayment in accordance with the terms of the Letter of Credit Granting. 

4.2 As for the trade credit, if the relevant transaction does not meet the Bank’s operational requirements for such credit, the Bank may refuse to allow
the withdrawals under the trade credit at its discretion. 
 4.3 The Bank may, at its discretion, allow the Borrower to use the credit in a currency
different from the currency contained under the Letter of Credit Granting. 
 4.4 The application for use of credit granting is irrevocable and will,
together with the Letter of Credit Granting, form an agreement with respect to the credit once it is accepted by the Bank. If the application for use of credit granting is inconsistent with the Letter of Credit Granting, as for the use of credit in
the application for use of credit granting, the application for use of credit granting shall prevail. 

  
 13 

 4.5 The Borrower shall repay or pay off the used credit on the relevant maturity date, unless otherwise
agreed in the relevant special credit terms. 
 4.6 The Borrower shall not pay off any credit in advance. Except as otherwise agreed in the relevant special
credit terms. 
 4.7 The minimum amount of approved advance repayment for some loans is RMB 1,000,000 or other amount agreed by the Bank. 

5 Purpose 
 The Borrower shall use the funds provided by
the Bank under the Letter of Credit Granting in strict accordance with the purposes listed in the Letter of Credit Granting and abide by the provisions of the Chinese laws and regulations regarding the use of credited funds. The Borrower shall not
use the credited funds for any purpose prohibited by relevant Chinese laws and regulations, including but not limited to the use of credited funds for investment of share capital equity nature, or the use of credited funds for speculative operations
in the securities market, futures markets, real estate market and other similar fields. 
 6 Market interference / increase in costs 

In case of any change in any applicable law or regulation (or its interpretation) or the financial market in China, or as required by any regulatory
agency/government department (whether or not it has legal effect), the Bank believes that the above factors cause the provision and maintenance of credit or increase in the cost of financing for credit, the changes in basis for calculation of
spreads, deviations from the floating range of RMB interest rates allowed by Chinese laws or regulations (or their interpretation), and/or the decrease in net gains obtained by the Bank from credits as stated in this Letter of Credit Granting, the
Bank reserves the right to re-determine any spreads, fees, other charges as stated in the Letter of Credit and the applicable term of benchmark interest rate for the central bank loan (if there is a RMB loan).
The Bank may, at its discretion, charge a re-determined interest or expense after notifying the Borrower before reaching an agreement on the re-determined spread, fees,
other charges or applicable benchmark interest rate. If the above-mentioned changes in laws and regulations or the requirements of any regulatory agency/government department are retroactive, for the added costs and/or reduced net gains of the Bank
during the retrospective period, the Borrower should compensate the Bank within fifteen working days after the written notice. Unless the Bank’s compensation requirements conflict with the relevant Chinese laws and regulations or the
requirements of the regulatory body/government department, the written notice issued by the Bank regarding such compensation requirements shall be the definitive evidence of the compensation payable by the Borrower to the Bank. 

7 Guarantee added 
 If, in fact, or from the perspective
of the Bank, if the Borrower or other Guarantor reduces the value of the guarantee provided for the credit under the Letter of Credit Granting, the Bank may require the Borrower to add a guarantee in the form and the substance satisfactory to the
Bank. 
 The “guarantee” mentioned in this article includes both the guarantee of the object and the guarantee of the person. “Reduction of
the value of the guarantee” includes the value not limited to the reduction of the absolute value of the collateral due to the decline in the market price of the collateral, the unfavorable change of the Guarantor’s credit status, and the
decrease in value of reduction of guarantee limit or any form of cash guarantee amount or assessed value of the collateral due to fluctuations in exchange rate after conversion of the credit currency. 

8 Issuance of loan fund 
 8.1 Unless otherwise specified
in the special credit terms, the issuance of funds under the credit is subject to this clause. 

  
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 8.2 The issuance of credited funds under each working capital credit exceeding the payment limit as
specified in the special credit terms of the credit shall be subject to “the Bank’s entrusted payment”. The Borrower confirms that the Bank may, from time to time, re-examine and amend the
payment limit for “Bank’s entrusted payment”. 
 Under the Bank’s entrusted payment method, if the Bank receives the following documents
three working days before the date of the proposed credit use, and the Bank confirms that the relevant transaction price is due and payable and meets the purposes agreed by the Letter of Credit Granting after reviewing the relevant transaction
materials, the Bank will, on the date of the proposed credit use, pay the credited funds to the loan issuance account and the credited fund to the Borrower’s counterparty according to the Borrower’s payment instruction on the same day.

 (a) the original application for use of credit for proposed credit use; 

(b) a copy of the transaction data as need by the payment supported by the credited funds, which is the same as the original; and 

(c) the original of the entrusted payment instruction instructing the Bank to pay the credited funds to the relevant third-party counterparty. 

If the Borrower’s self-payment method is adopted, after receiving the Borrower’s application for use of credit granting, the Bank will release the
relevant credited funds to the Borrower’s loan issuance account: the Borrower can then pay the credited funds to the third party by itself. The Borrower shall confirm the use of all credited funds independently paid by the Borrower to the Bank
on a quarterly basis in the form and content satisfactory to the Bank, and provide the evidence and supporting documents related to the above use at the request of the Bank. 

8.3 In respect of the Bank’s entrusted payment, the Borrower hereby promises the following to the Bank: 

(a) The Borrower, as the payment obligor under the relevant transaction, shall assume overall responsibility for the appropriateness and/or correctness of each
payment made under the Bank’s entrusted payment method. The Bank’s review of the transaction data and act of payment does not relieve or mitigate the Borrower’s liability. 

(b) The Borrower shall not direct the Bank to pay any credited funds to the Borrower’s account of the same name in another bank, unless the
Borrower’s payment must be made through the account of the same name in another bank and the Borrower must provide the documents satisfactory to the Bank to ensure the use of credited funds paid to the accounts of the same name in another bank
is in compliance with the regulations. 
 (c) The Borrower shall not split a large sum of money into several parts for the purpose of evading the
Bank’s entrusted payment. 
 9 Fees, taxes and deduction authorization 

9.1 The Bank and the Borrower shall pay the stamp duty payable on the credit respectively. 

9.2 All fees (including but not limited to attorneys’ fees and excluding stamp duty) incurred by the Bank at the request of the Borrower for the
modification and reorganization of credit or exercise of the Bank’s rights shall be fully compensated by the Borrower. 
 9.3 All principal, interest,
expenses and other expenditures shall be paid in full by the Borrower and the Borrower shall not deduct any tax payment, taxes, tax revenue, customs duties for any payable by the Borrower or withhold the payment of any nature. 

9.4 The Bank may, at any time, offset any due debts owed by the Borrower to the Bank (including but not limited to the principal, interest and other expenses
and payments due and payable under the Letter of Credit Granting or in connection with the Letter of Credit Granting) against any due or undue debts owed by the Bank to the Borrower, regardless of whether the payment place, bookkeeping bank or
currency type of the above debts is identical. With respect to the above offset, the Borrower needs not to issue further instructions or the Bank needs not to notify the Borrower in advance; therefore, the Bank does not assume any responsibility to
the Borrower. If the currency types of the above debts are different, the (related) Borrower authorizes the Bank to exchange any debt for the purpose of the above-mentioned offset and according to the foreign exchange rate in its usual business.

  
 15 

 10 Standard terms of trade 

The Letter of Credit Granting and any request for trade services under the Letter of Credit Granting will include the standard terms of trade, as if the
standard terms of trade have been fully included in the Letter of Credit Granting or request. Borrower: 
 (a) confirm that it has read and understood the
standard terms of trade; and 
 (b) agree that the Letter of Credit Granting and any request on trade services under the Letter of Credit Granting will
include standard terms of trade, which shall apply to the requested trade services. 
 11 Transfer 

The Bank is entitled to transfer all or any part of its rights and/or obligations in the Letter of Credit Granting or in connection with the Letter of Credit
Granting to any person after making written notice to the Borrower(without the consent of the Borrower). 
 12 Related-party transactions 

Article 83 of the Banking Ordinance in Hong Kong and the Administrative Measures of the China Banking Regulatory Commission for Related-party Transactions
between Commercial Banks and their Insiders or Shareholders (the “Administrative Measures”) have provided the restrictions on the release of loans made by the Bank to the persons related to the Bank’s directors or employees or with
the nature of related transaction. When confirming the Letter of Credit Granting, the Borrower shall, in accordance with Article 83, inform the Bank whether the Borrower has any form of relationship with The Hong Kong and Shanghai Banking
Corporation Limited or any of the directors or employees of the bank or whether the Borrower is a “related party” as defined by the CBRC’s Administrative Measures for Related-party Transactions. If the Borrower fails to make the above
notice, the Bank will assume that the Borrower has no such relationship. If the Borrower has the above relationship after confirming the Letter of Credit Granting, the Borrower shall immediately inform the Bank in writing. 

13 Compliance action 
 The Borrower knows and agrees: 

(a) the Bank and other members of the HSBC Group are required to comply with the laws and regulations of multiple jurisdictions and the requirements of public
transit agencies operated in multiple jurisdictions, including laws, regulations and requirements related to the matters as follows: (i) prevent money laundering, terrorist financing, corruption, tax evasion and provision of financing and other
services to persons or entities that may be subject to economic or trade sanctions; or (ii) investigate, prosecute or exercise rights as a result of any person violating any laws and regulations; 

(b) The Bank may take and may instruct other members of HSBC Group to take actions that the Bank fully and independently considers appropriate
(“Compliance Actions”) to prevent or investigate criminal acts or potential violations of the sanctions regime, or the Bank may comply with relevant laws, regulations, sanctions regime, international guidelines, relevant procedures of HSBC
Group and/or directives of public, regulatory or industry bodies related to any member of HSBC Group. These compliance actions include: intercepting and investigating any payment, communication or instruction; and further inquiring whether the
individual or entity is bound by the sanctions regime; and 

  
 16 

 (c) Any loss (including direct or indirect losses, or loss of revenue, data or benefits) or delays
undertaken or incurred by any party, in whole or in part, by (i) any action taken by the Bank, or the Bank’s delay in the performance or non-performance of any of the Bank’s obligations under
this Letter of Credit Granting, or (ii) any act taken by the Bank or any member of HSBC Group according to the compliance action, the Bank or any member of HSBC Group will not bear any liability to the Borrower. 

  
 17 

 Pledge Registration Agreement on Accounts Receivable 

The Agreement was signed by the Parties on November 19, 2018: 

(A) Pledgor: Shanghai Tong Gou Information Technology Co., Ltd. (hereinafter referred to as “Pledgor”) and 

(B) Pledgee: Shanghai Branch of HSBC Bank (China) Company Limited (hereinafter referred to as “the PPledgee”). 

About: the Pledge Agreement on Accounts Receivable signed by the Pledgor and the Pledgee on November 19, 2018 (hereinafter referred to as the
“Pledge Agreement”) 
  

	1.	 The terms defined in the Pledge Agreement shall have the same meaning as used in the Agreement, except as
otherwise defined herein. 

  

	2.	 The Pledgor agrees and confirms: 

 

	 	(a)	 For any and all accounts receivable pledged to the Pledgee under the Pledge Agreement, the Pledgor authorizes
the Pledgee to register the pledge under the Pledge Agreement in accordance with applicable laws and regulations. 

  

	 	(b)	 If the accounts receivable pledged by the Pledgor to the Pledgee under the Pledge Agreement is the
Pledgor’s total of existing and future accounts receivable for any account debtor or any assets, the Pledgor authorizes the Pledgee to register the pledge of all accounts receivable within the scope permitted by applicable laws and regulations
in a manner as the Pledgee deems appropriate. 

  

	 	(c)	 At the request of the Pledgee, the Pledgor shall sign the pledge or transfer notice of the debtor of the
accounts receivable for the pledge or transfer of the relevant receivables, and procure the debtor of the accounts receivable to cooperate in and confirm the relevant transfer, pledge and/or registration. 

 

	3.	 For the purposes of the above registration, the Pledgor irrevocably authorizes the Pledgee:

  

	 	(a)	 The pledge registration is extended during the pledge period and before the registration period expires (When
the maximum registration period allowed by the registration authority is shorter than the pledge period): 

  

	 	(b)	 When the name of the Pledger’s company name and the information of the Pledger recorded in the other
registration system are changed, the information on the Pledger in the pledge registration will be changed. For this purpose, the Pledgor shall promptly notify the Pledgee of the relevant changes and submit relevant supporting documents;

  

	 	(c)	 Upload the contents of the Agreement to the registration system as required by the registration authority.

  

	4.	 The pledge made by the Pledgor according to the Pledge Agreement is an exclusive pledge, while the Pledgor
shall not transfer or pledge the relevant accounts receivable to any third party other than the Pledgee. 

  

	5.	 The Agreement shall be governed by Chinese law. 

 

	6.	 The Agreement is an integral part of and supplement to the Pledge Agreement. The matters not covered in the
Agreement shall be subject to the Pledge Agreement. 

 Signed by the Pledgor: 

Pledgor: Shanghai Tong Gou Information Technology Co., Ltd. 
  

					
	
Signature of authorized signatory:

Special Seal for the Finance of

Shanghai Tong Gou Information Technology Co., Ltd. (Seal)

Wang Wei (Seal)
	  	Signature of authorized signatory:	  	
Corporate seal

Shanghai Tong Gou Information Technology Co., Ltd. (Seal)

	 Name:

/s/ Wang Wei
	  	Name

 Signed by the Pledgee: 
 Pledgee:
Shanghai Branch of HSBC Bank (China) Company Limited 
  

			
	Signature of authorized signatory:	  	Signature of authorized signatory:
	
/s/ Fan Xiaodan
	  	 
	Name	  	Name
	Fan Xiaodan	  	 

 To: HSBC Bank (China) Co., Ltd. Shanghai Branch 

Personal Letter of Guarantee (Single Beneficiary) 
  

	1.	 Definition 

  

	1.1.	 Definition 

“Bank” refers to HSBC Bank (China) Company Limited and its successors and transferees, including any of its branches. 

“Bank credit” refers to the credit or other credits provided or continuously provided by the Bank for the client or (as required by the client).

 “Client” refers to all or any one or more persons whose names and addresses are listed in the appendix. 

“Period of determining the creditor’s rights” refers to the period from the date of signing of the Letter of Guarantee to the date of one
(1) calendar month after the Bank receives a valid notice of termination. 
 “Default interest” refers to the interest calculated according
to the interest rate specified by the Bank (or the interest rate same as the default interest rate on the guaranteed amount assumed by the client in case of no specified interest rate); if such interest fails to be paid on time as specified by the
Bank, the compound interest must be collected monthly. 
 “Foreign exchange rate” refers to the exchange rate used in the relevant foreign
exchange markets and determined by the Bank at that time when one currency is exchanged for another currency at the relevant time. The decision of the Bank is final and binding on the Guarantor. 

“Guaranteed amount” refers to (i) all contractual monetary obligations in any currency incurred by the client and owed to the Bank at any time
during the period of determining the creditor’s rights; whether such debts are owed payment under the Bank credit, amount related to the Bank credit, payment owed either separately or jointly with any other person, or actual, contingent,
current or future owed payment in any capacity (including in the capacity of the principal debtor or the Guarantor), and (ii) all interest (including interest penalty, if any) arising on such debts (before the claim or judgment and after the
claim or judgment); In order to avoid ambiguity, all debts owed by the client to the Bank at the beginning of the period of determining the creditor’s rights are parts of the guaranteed amount and are guaranteed under the Letter of Guarantee.

 “Guarantor” refers to all or any one or more persons whose names and addresses are listed in the appendix. 

“Debt ceiling” refers to the amount of debt ceiling stated in the appendix; if the currency of any guaranteed amount is different from that of the
debt ceiling, and the amount expressed in the currency of the debt ceiling equivalent to the guaranteed amount calculated according to the foreign exchange rate applicable at that time increases after the occurrence of guaranteed amount, the debt
ceiling shall increase by the same amount of the guaranteed amount. 
 “Persons” include individuals, firms, companies, legal persons and groups
without legal personality. 
 “China” refers to the People’s Republic of China, excluding Hong Kong SAR, Macao SAR and Taiwan Region for the
purposes of the Letter of Guarantee. 
 “Notice of termination” refers to the notice of termination issued according to Article 3.1. 

 

	1.2.	 Interpretation 

  

	(a)	 In the case of two or more clients, the guaranteed amount shall include all payments and debts owed by the
person either separately or jointly with any other person, and the “client” shall be explained accordingly. 

  

	(b)	 In case of two or more Guarantors: 

 

	 	(i)	 The “Guarantor” shall be explained accordingly; 

 

	 	(ii)	 The obligations of the Guarantor under the Letter of Guarantee shall be joint and several;

  

	 	(iii)	 The Letter of Guarantee may be deemed as a separate guarantee issued by each Guarantor in respect of the
guaranteed amount; 

  

	 	(iv)	 The Letter of Guarantee is binding upon each Guarantor, even if it is not binding upon any other Guarantor or
any other person whom it should be binding upon; 

  
 1 

	 	(v)	 If all or part of the terms of the Letter of Guarantee is unenforceable to any Guarantor at any time for any
reason (including due to the failure of any Guarantor to sign the Letter of Guarantee), the Letter of Guarantee shall be still binding upon other Guarantors and executable as if the Letter of Guarantee is only made by such other Guarantors;

  

	 	(vi)	 The Bank may deal with any matter separately with any Guarantor, including dissolving the Guarantor’s
liability at any degree without affecting the liability of any other Guarantor; and 

  

	 	(vii)	 Any Guarantor shall not enjoy the rights or relief of other Guarantors. 

 

	(c)	 Any agreement or document refers to the agreement or document as amended, transferred, supplemented, renewed or
re-stated. A certain legal provision refers to a provision which is amended or re-enacted and includes any subordinate provision. 

 

	2.	 Guarantee 

  

	2.1.	 The Guarantor and the client shall assume several liabilities for the guaranteed amount, and guarantee that the
guaranteed amount will be paid immediately to the Bank upon request, provided that the total amount paid by the Guarantor under the Letter of Guarantee does not exceed the debt ceiling under any circumstance. 

For the avoidance of doubt, the Guarantor’s warranty obligations under the Letter of Guarantee cover the guaranteed amount owed to any
branch of the Bank. 
  

	2.2.	 The Guarantor shall pay the default interest on the guaranteed amount from the date on which the Bank requests
the Guarantor to pay the guaranteed amount until the Bank receives the full guaranteed amount. During this period, no matter whether a litigation or other circumstance of restricting the payment of the Guarantor occurs, the default interest shall be
continuously calculated. 

  

	2.3.	 The Guarantor shall fully compensate the Bank for all expenses (including the attorney fee) incurred in the
execution of the Letter of Guarantee. 

  

	2.4.	 To avoid ambiguity, the Guarantor’s liability under Articles 2.2 and 2.3 shall not be limited to the debt
ceiling. 

  

	2.5.	 A certificate of debts signed by any appropriately authorized staff of the Bank shall, in the absence of any
obvious error, be a final proof of the unpaid guaranteed amount for the Guarantor. 

  

	2.6.	 Under the Letter of Guarantee, the warranty period for any guaranteed amount shall be two years from the
maturity date of the portion as defined in Item (i) of the guaranteed amount. 

  

	3.	 Continuity and additional warranty 

 

	3.1.	 The Guarantor may notify the Bank of the termination of the Letter of Guarantee (“termination”) in
writing at least one calendar month prior to the proposed termination date. The Letter of Guarantee is a continuing guarantee and provides guarantee for all guaranteed amount until the expiration of one calendar month after the Bank receives the
notice of termination. The Guarantor agrees that the Letter of Guarantee and the period of determining the creditor’s rights will not terminate under any other circumstances (including but not limited to any of the circumstances described in
Article 6 below) except as provided in this Article 3. In the event that the Letter of Guarantee or the period of determining the creditor’s rights will be terminated in accordance with the law, the Guarantor shall be deemed to have re-signed the Letter of Guarantee with the Bank immediately upon termination and issue it, and shall indemnify the Bank for all costs, penalties, damages and other losses arising from such termination.

  

	3.2.	 Notwithstanding the notice of termination, the Letter of Guarantee shall continue to be valid for the actual,
contingent or onerous guaranteed amount of the client or the guaranteed amount of the client to be onerous before the termination (together with interest and other payments payable in respect of such guaranteed amount after the termination), and the
Guarantor guarantees that the guaranteed amount (together with interest and other payments payable in respect of such guaranteed amount after the termination) shall be paid to the Bank upon request, whether the request is made before, at the end of,
or after the termination. 

  

	3.3.	 The notice of termination may not be sent within the shortest period as listed in the appendix hereto,
otherwise it shall be deemed to be invalid. In case that the shortest period is not filled in the appendix, this Article 3.3 shall not be applicable. 

  
 2 

	3.4.	 In the case of two or more Guarantors, the Bank may deem the notice of termination not issued by the entire
Guarantors to be only used for terminating the liability of the Guarantor who issues such notice of termination, without affecting or terminating the liabilities of other Guarantors, and the Letter of Guarantee shall continue to be binding on such
other Guarantors as if it were made solely by such other Guarantors. 

  

	3.5.	 The Letter of Guarantee is an additional guarantee based on any other warranties, mortgages, pledges or other
guarantees held by the Bank, and is not subject to or affected by any such other warranties, mortgages, pledges or other guarantees. Where the Guarantor has provided the Bank with any other guarantee with respect to the guaranteed amount, the limit
of the guarantee liability of the Guarantor for the guaranteed amount to the Bank shall be the sum of the “debt ceiling” under all such guarantees (including the Letter of Guarantee), unless otherwise expressly provided in the appendix.

  

	3.6.	 The Letter of Guarantee shall be not affected by any other warranties, mortgages, pledges or other guarantees
held by the Bank, and may be performed, regardless of the existence or waiver of any such other warranties, mortgages, pledges or other guarantees. The Bank has no obligation to execute any other warranties, mortgages, pledges or guarantees (whether
they are provided by the client, Guarantor or any other person), exercise any rights or require the client or any other person to make payment, prior to the execution of the warranty hereunder. 

 

	4.	 Payment 

  

	4.1.	 The Guarantor shall pay the Bank as required by the Bank, and shall not have any kind of offset, counterclaim,
withholding or condition. However, if the Guarantor is required by law to make such a withholding, the amount payable of the Guarantor needs to be increased, so that the amount actually received by the Bank is equivalent to the Bank’s amount
receivable when the above-mentioned withholding is not required to be made. 

  

	4.2.	 The currency of the payment made by the Guarantor to the Bank shall be the same as the currency used for the
relevant guaranteed amount, or if the Bank agrees in writing, the Guarantor may pay in another currency. If the payment is made in another currency, such currency shall be exchanged at the foreign exchange rate. 

 

	4.3.	 No payment hereunder paid to the Bank in accordance with any judgment, court order or for other reason may
relieve the Guarantor’s liability for payment, unless and until the Bank has received all the payables in the currency specified herein, and when any such payment is made, resulting in the insufficient amount due to the exchange of the currency
stipulated in such liability at the exchange rate, the Guarantor shall bear the amount of such shortfall. 

  

	4.4.	 Any amount related to the guaranteed amount paid to the Bank may be used to pay off the guaranteed amount, or
it may be credited to the account determined by the Bank (including the temporary account). 

  

	4.5.	 In case of any relevant guaranteed amount paid to the Bank to be returned, or any payment, guarantee or other
disposals to be invalid, revoked or returned, due to any law relating to insolvency, bankruptcy or liquidation or for any other reasons, and any exemption, dissolution or arrangement made by the Bank based on such payment, guarantee or other
disposals, the Guarantor’s liability hereunder shall continue or be resumed, as if such payment, exemption, dissolution or arrangement had never happened. This article shall remain in force after the termination or expiration of the Letter of
Guarantee. 

  

	5.	 Offset 

The Bank may use any credit balance on any account of the Guarantor in the Bank to pay off the guaranteed amount at any time without notice,
regardless of whether the place of payment, bookkeeping bank or currency is the same thereof. For this purpose, the Bank may use the credit balance of such an account at a foreign exchange rate to purchase other currencies that may be required to be
used for paying off the guaranteed amount. 
  

	6.	 Waiver of defense 

The Guarantor hereby approve and agree to the following content, and agree that various obligations hereunder shall not be released, weakened,
damaged, reduced or adversely affected by any of the following content, and that it may waive any legal or other right (including but not limited to the right to be notified) which may be separately owned, and which is caused by or related to any of
the following content: 

  
 3 

	 	(a)	 Any amendment or change to the clauses on the bank credit, or any extension or renewal of the bank credit;

  

	 	(b)	 Any adjustment, grace, extension, grace period, waiver, consent or compromise which may be granted or given by
the Bank to the client, the Guarantor or any other person who is obligated to pay any or all of the guaranteed amount; 

  

	 	(c)	 Any warranties or guarantees at any time that are in connection with all or any part of the guaranteed amount
or that are used to warrant or guarantee the payment for all or any part of the guaranteed amount are discharged, changed, subordinated or lost; 

  

	 	(d)	 The Bank or any other person fails to perform the obligation of prudence and reasonable care, when preserving,
protecting, executing, selling or otherwise disposing of all or any part of any guarantee; 

  

	 	(e)	 In the case of two or more Guarantors, the Bank (i) does not claim to other Guarantors for its rights
hereunder or (ii) waives such rights; 

  

	 	(f)	 The client is reorganized or merged by any other person or reorganizes or merges with any other person;

  

	 	(g)	 Any terms of the letter of credit, loan contract and/or similar financing documents relating to the guaranteed
amount are invalid or unenforceable; 

  

	 	(h)	 The Bank suspends or cancels any bank credit to the client, or does not allow the client to use any bank
credit, or asks the client to repay the guaranteed amount or any other payment immediately or in advance; 

  

	 	(i)	 Bankruptcy or similar procedure of the client, Guarantor or any other person; or 

 

	 	(j)	 In case of no this article, any other act or omission of any part of the Guarantor’s obligations hereunder
may be exempted. 

  

	7.	 The Guarantor as the principal debtor 

The Guarantor’s liability hereunder shall not be relieved or otherwise affected, due to any agreement or arrangement made by and between
the Bank and the client or any other person, or any legal restriction which relieves the Guarantor’s liability to any extent in case of no this clause, no legal capacity, legal incapacity or any other actions, omissions or circumstances. The
Guarantor’s warranty obligations hereunder shall still cover any guaranteed amount that may not be recoverable from the client for any such reason, and the Guarantor shall fully compensate the Bank for such guaranteed amount immediately upon
the request of the Bank, and simultaneously pay the payable default interest as specified in Article 2.2. 
  

	8.	 Subordinate 

  

	8.1.	 Before the Bank receives the full guaranteed amount, the Guarantor may not exercise any subrogation right,
right of compensation, right of set-off or counterclaim right against the client, or exercise any participation right of any guarantee held by the Bank for the guaranteed amount, or unless the Bank proposes
such request, the creditor’s right may not be proved in the bankruptcy or liquidation of the client. The Guarantor shall enable any payment recovered through the exercise of any such rights to be held by the Bank’s benefit trust, and shall
pay such payment to the Bank immediately upon receipt of such payment. 

  

	8.2.	 The Guarantor has not accepted any guarantee from the client, and the Guarantor agrees it will not accept any
guarantee from the client before the Bank receives the full guaranteed amount. Any guarantee accepted by the Guarantor in violation of this clause shall be held by the Bank’s benefit trust as a guarantee of the guaranteed amount, and all
payments related to such guarantee received at any time must be paid to the Bank immediately upon receipt. 

  

	9.	 No waiver 

Any failure to exercise or delay in exercising any right or remedy hereunder shall not be deemed a waiver of such right or remedy, and any
separately or part exercise of any right or remedy shall not prejudice any further exercise or otherwise exercise of such right or remedy or the exercise of any other rights or remedies. 

  
 4 

	10.	 Consent 

The Guarantor agrees that the Bank may disclose the information about the Guarantor (including details of all or any transactions or dealings
between the Guarantor and the Bank) to the following persons and/or obtain such information from the following persons for the purposes deemed reasonable and appropriate by the Bank: 

 

	 	(a)	 Any agent, contractor or third party service provider (whether within or outside China) that provides the Bank
with services including administrative, telecommunications, computer, payment, program processing or other banking-related services; 

  

	 	(b)	 Credit counseling service institution; 

 

	 	(c)	 Any person to whom the Bank is obligated to make disclosure in accordance with any applicable law, regulation
or judicial procedure; 

  

	 	(d)	 Any company subordinate to HSBC Group, namely, HSBC Holdings plc and all its affiliated companies and
subsidiaries at all levels (including any of their agents or 

  

	 	(e)	 Any actual or potential participant or sub-participant of the
guaranteed amount (or any part thereof). 

 If such information includes personal or other information of the Guarantor,
any third party or individual, the Guarantor shall confirm and warrant that it has agreed and obtained the consent of such third party or individual, agreeing to provide such information for the Bank for such purposes and to disclose the same to
persons mentioned in this article. The Guarantor will bear and compensate the bank for all costs, fines, damages and other losses caused by the Guarantor’s violation of any provision of this article. 

 

	11.	 Transfer 

The Guarantor may not transfer or assign any of its rights or obligations hereunder. The Bank may transfer all or any part of rights of the
Bank hereunder to the person who accepts the transferred all or any part of the guaranteed amount. 
  

	12.	 Severability 

Where any clause hereof is or become illegal, invalid or unenforceable in any aspect in any judicial district, the legality, validity and
enforceability of other clauses hereof in such judicial district and the legality, validity and enforceability of such clause and other clauses in other judicial district shall not be affected or impaired thereby. 

 

	13.	 Governing laws and jurisdiction 

 

	13.1.	 The Letter of Guarantee shall be governed by Chinese laws. 

 

	13.2.	 The Guarantor agrees to submit the jurisdiction of the Chinese court where the main place of the Bank’s
branch indicated on the first page is located. No provision in Article 13.2 restricts the Bank’s right to file a lawsuit against the Guarantor with any other court with appropriate jurisdiction in respect of the Letter of Guarantee.

  

	14.	 Address and service 

The Guarantor confirms that the address listed herein or otherwise kept in in the Bank for the purpose of the communication, or the address of
the Guarantor or its service agent (if applicable) shall be the address of receiving the notice or document (including documents sent by a court or arbitration institution or in connection with a lawsuit or arbitration) hereunder or related to the
Letter of Guarantee. For the Guarantor, any notice or document sent to, retained in or returned from the above-mentioned designated address, or the domicile or place of residence of the Guarantor will be deemed to have been served on the Guarantor.

  

	15.	 Signature 

The Letter of Guarantee has been executed by the Guarantor on the date set out in the appendix. 

  
 5 

 Appendix 

Details of the client 
  

			
	Name	  	Address
	 	 
	Shanghai Tonggou Information Science & Technology Co., Ltd.	  	Room 302, 3/F, No.1000 Tianyaoqiao Road, Xuhui District, Shanghai, China

 Details of the Guarantor 
  

			
	Name	  	Address
	 	 
	 Wang Ying

 
	  	 ***

 

	 	 
	Name	  	Address
	 	 
	Zeng Qingchun	  	***

 Amount of the debt ceiling: 
  

	
	CNY11,000,000

 Minimum period 
  

	
	XX month(s) from the execution date of the Letter of Guarantee.

 Execution date of the Letter of Guarantee 
  

	
	November 19, 2018

  
 6 

 Signed by the Guarantor: 

Guarantor: Wang Ying 
  

	
	
Signature
  

/s/Wang Ying

	 
	
Identity certification type and No.
  

ID card No. ***

 Guarantor: Zeng Qingchun 
  

	
	 Signature

/s/Zeng Qingchun
  

	
Identity certification type and No.
 ID card No. ***

  
 7 

					
		 		  	 (Cross Border Approach)

 

	 To:
  
	 	 HSBC BANK (CHINA) COMPANY LIMITED SHANGHAI BRANCH

 
	  	(Name of Bank)
		 	27/F, HSBC BUILDING, SHANGHAI IFC, 8 CENTURY AVENUE, PUDONG, SHANGHAI, CHINA	  	  

(Address of Bank’s Office)

 LETTER OF GUARANTEE (Limited Amount) 
  

	1.	 Definitions 

“Bank” means the Bank named above or any person who is entitled at any future date to exercise all or any of the Bank’s
rights under this Guarantee; 
 “Banking Facilities” means such facilities as the Bank may make or continue to make
available to the Customer or to any other person at the request of the Customer at any branch or office of the Bank and whether now or in the future; 

“Customer” means all or any one or more persons whose names and addresses are specified in the Schedule; 

“Default Interest” means interest charged at the rate of 6% per annum over the Bank’s best lending rate or such
other rate as the Bank may notify the Guarantor from time to time, compounded monthly if not paid on the dates specified by the Bank; 

“Exchange Rate” means the rate for converting one currency into another currency which the Bank determines to be prevailing in
the relevant foreign exchange market at the relevant time, such determination to be conclusive and binding on the Guarantor; 

“Guaranteed Monies” means (i) all monies, obligations and liabilities in any currency whenever and however due, owing or
incurred, whether with or without the Guarantor’s knowledge or consent and due, owing or incurred by the Customer to the Bank at any branch or office at any time, whether separately or jointly with any other person, actually or contingently
whether presently or in future in any capacity including as principal or as surety; (ii) interest (both before and after any demand or judgment), to the date on which the Bank receives payment, at the rates payable by the Customer or which
would have been payable but for any circumstance which restricts or prohibits payment; (iii) any amount due under the indemnity in Clauses 9 and 16.03 below; and (iv) all costs, expenses and fees incurred or charged by the Bank in
enforcing this Guarantee on a full indemnity basis; 
 “Guarantor” means all or any persons whose names and addresses are
specified in the Schedule together with their executors, administrators, successors and assigns; 
 “Maximum Liability”
means (i) the Specified Sum; (ii) Default Interest on that sum; and (iii) expenses of the Bank in enforcing this Guarantee on a full indemnity basis; where a liability for Guaranteed Monies is incurred in a currency different from the
currency in which the Maximum Liability is stated and the equivalent of that liability in the currency in which the Maximum Liability is stated, calculated at the Exchange Rate, has increased since it was incurred, that increase shall be added to
the Maximum Liability; 
 “person” includes an individual, firm, company, corporation and an unincorporated body of persons;

 “Process Agent” means the person, if any, whose name and address are specified in the Schedule; and 

“Specified Sum” means the sum specified as such in the Schedule. 

 

	2.	 Interpretation 

 

	 	2.01	 Where there are two or more persons comprised in the expression “the Customer” the Guaranteed Monies
shall include all monies and liabilities due owing or incurred to the Bank by such persons whether solely or jointly with one or more of the others or any other person(s) and the expression “the Customer” will be construed accordingly.

  
 Page 1/10 

	 	2.02	 Where the persons comprised in the expression “the Customer” are carrying on business in partnership
under a firm name or are trustees of a trust the Guaranteed Monies (notwithstanding any change in the composition of that partnership) shall include the monies and liabilities which shall at any time be due owing or incurred to the Bank by the
person(s) from time to time carrying on the partnership business under that name or under any name in succession thereto and includes those due from all persons from time to time being trustees of that trust and the expression “the
Customer” shall be construed accordingly. 

  

	 	2.03	 Where there are two or more persons comprised in the expression “the Guarantor” the obligations of
each such person as Guarantor under this Guarantee shall be joint and several. 

  

	3.	 Guarantee 

  

	 	3.01	 In consideration of the Banking Facilities, the Guarantor guarantees to pay the Guaranteed Monies to the Bank
on demand. 

  

	 	3.02	 The liability of the Guarantor under this Guarantee shall not exceed the Maximum Liability.

  

	 	3.03	 The Guarantor shall, subject to Clause 3.02, pay Default Interest (to the extent that it is not paid by the
Customer) on the Guaranteed Monies from the date of demand by the Bank on the Guarantor until the Bank receives payment of the whole of the Guaranteed Monies (both before and after any demand or judgment or any circumstances which restrict payment
by the Customer). 

  

	 	3.04	 A certificate of balance signed by any duly authorised officer of the Bank shall be conclusive evidence against
the Guarantor of the amount of the Guaranteed Monies owing at any time. 

  

	 	3.05	 The Bank shall be entitled to retain this Guarantee and any security it has in respect of the Guaranteed Monies
until it is satisfied that any repayment of the Guaranteed Monies will not be avoided whether as a preference or otherwise. 

  

	4.	 Continuing and Additional Security 

 

	 	4.01	 This Guarantee is a continuing security and shall secure the whole of the Guaranteed Monies until one calendar
month after receipt by the Bank of notice in writing by the Guarantor or a liquidator, receiver or personal representative of the Guarantor (in the event of the death of the Guarantor) to terminate it. In the case of the Guarantor’s death, this
Guarantee shall remain binding as a continuing guarantee on that Guarantor’s heirs, executors, successors or administrators until the expiry of notice given in accordance with this Clause. Nevertheless and despite the giving of such notice,
this Guarantee shall continue to apply to the Guaranteed Monies in respect of which the Customer is or becomes actually or contingently liable up to such termination and the Guarantor guarantees to pay such Guaranteed Monies to the Bank on demand
whether that demand is made before, at the time of or after such termination. 

  

	 	4.02	 Where there is more than one person comprised in the expression the “Guarantor”, any notice under
Clause 4.01 above may be given by any one of the persons comprising the Guarantor. The Bank will treat any such notice as terminating that Guarantor’s liability to the extent provided in Clause 4.01 without affecting or terminating the
obligations or liability of any other person comprising the Guarantor and this Guarantee shall continue to bind those persons as a continuing guarantee. 

  

	 	4.03	 This Guarantee is in addition to, shall not be affected by and may be enforced despite the existence of any
other guarantee or security held by the Bank. 

  

	 	4.04	 Where there is more than one person comprised in the expression “the Guarantor”, if for any reason
this Guarantee is not or ceases to be binding on any Guarantor, it shall subject to Clause 3.01 remain binding as a continuing security on the remaining person(s) comprising the Guarantor. 

 

	 	4.05	 The obligations of the Guarantor under this Guarantee shall not be affected by any of the following:

  

	 	(i)	 any part payment of the Guaranteed Monies by the Customer or any other person; 

 

	 	(ii)	 any change in the name or constitution of the Customer, the Guarantor or the Bank; 

 

	 	(iii)	 any merger, amalgamation, reconstruction or reorganisation affecting the Customer, the Guarantor or the Bank;

  

	 	(iv)	 the death, mental incapacity, bankruptcy, insolvency, liquidation or administration of the Customer or the
Guarantor; and 

  

			
	LETTER OF GUARANTEE (Limited Amount)	  	Page 2/10

	 	(v)	 any other act, omission, event or circumstance which but for this provision would discharge any Guarantor from
liability under this Guarantee. 

  

	5.	 Customer’s Accounts 

The Bank may, at any time and despite the termination of this Guarantee, continue any existing account and open any new account in the name of
the Customer and no subsequent transactions, receipts or payments involving such new accounts shall affect the liability of the Guarantor. 
  

	6.	 Payments 

  

	 	6.01	 Payments by the Guarantor shall be made to the Bank as specified by the Bank without any set-off, counterclaim,
withholding or condition of any kind except that, if the Guarantor is compelled by law to make such withholding, the sum payable by the Guarantor shall be increased so that the amount actually received by the Bank is the amount it would have
received if there had been no withholding. 

  

	 	6.02	 Payment by the Guarantor to the Bank shall be in the currency of the relevant liability or, if the Bank so
agrees in writing, in a different currency, in which case the conversion to that different currency shall be made at the Exchange Rate. The Bank shall not be liable to the Guarantor for any loss resulting from any fluctuation in the Exchange Rate.

  

	 	6.03	 No payment to the Bank under this Guarantee pursuant to any judgment, court order or otherwise shall discharge
the obligation of the Guarantor in respect of which it was made unless and until payment in full has been received in the currency in which it is payable under this Guarantee and, to the extent that the amount of any such payment shall, on actual
conversion into such currency, at the Exchange Rate, fall short of the amount of the obligation, expressed in that currency, the Guarantor shall be liable for the shortfall. 

 

	 	6.04	 Any monies paid to the Bank in respect of the Guaranteed Monies may be applied in or towards satisfaction of
the same in such manner as determined by the Bank or placed to the credit of such account (including a suspense or impersonal account) and for so long as the Bank may determine pending the application from time to time of such monies in or towards
the discharge of the Guaranteed Monies. 

  

	 	6.05	 If any monies paid to the Bank in respect of the Guaranteed Monies are required to be repaid by virtue of any
law relating to insolvency, bankruptcy or liquidation or for any other reason, the Bank shall be entitled to enforce this Guarantee as if such monies had not been paid. 

 

	7.	 Set-off 

The Bank may, at any time and without notice, apply any credit balance to which the Guarantor is entitled on any account with the Bank in or
towards satisfaction of the Guaranteed Monies. For this purpose, the Bank is authorised to purchase, at the Exchange Rate, such other currencies as may be necessary to effect such application with the monies standing to the credit of such account.

  

	8.	 Lien 

The Bank is authorised to exercise a lien over all property of the Guarantor coming into the possession or control of the Bank, for custody or
any other reason and whether or not in the ordinary course of banking business, with power for the Bank to sell such property to satisfy the Guaranteed Monies. 
  

	9.	 Guarantor as Principal Debtor 

As a separate obligation, the Guarantor shall be liable as a principal debtor including, but not limited to, where any liability or obligation
of the Customer for any of the Guaranteed Monies is or becomes unlawful, irrecoverable, invalid or unenforceable for any reason including by reason of any legal limitation, disability or incapacity or any other act, omission or circumstance which,
but for this provision, would discharge the Guarantor to any extent. Any Guaranteed Monies which may not be recoverable from the Customer for any reason whatsoever shall be recoverable by the Bank from the Guarantor as principal debtor by way of
indemnity under this separate obligation, on demand, together with Default Interest thereon in accordance with Clause 3.03 above. 

  

			
	LETTER OF GUARANTEE (Limited Amount)	  	Page 3/10

	10.	 Variation of Terms and Release of Security 

The Bank may at any time and without affecting or discharging this Guarantee or the obligations of the Guarantor: 

 

	 	(i)	 extend, increase, renew, replace or otherwise vary any of the Banking Facilities; 

 

	 	(ii)	 vary, exchange, abstain from perfecting or release any other security or guarantee held or to be held by the
Bank as security for the Guaranteed Monies; 

  

	 	(iii)	 give time for payment or accept any composition from and make any arrangement with the Customer or any other
person; 

  

	 	(iv)	 release any Guarantor from that Guarantor’s obligation under this Guarantee or otherwise and give any time
for payment, accept any composition from or make any arrangement with any Guarantor; 

  

	 	(v)	 make demand under this Guarantee and enforce all or any of the Guarantor’s obligation under this Guarantee
without having enforced or sought to enforce any rights or remedies which the Bank may have in respect of the Guaranteed Monies against the Customer, any other surety or in relation to any other security; or 

 

	 	(vi)	 do or omit to do any thing which but for this provision would discharge any Guarantor from liability under this
Guarantee. 

  

	11.	 Guarantor as Trustee 

 

	 	11.01	 The Guarantor shall not, until the whole of the Guaranteed Monies have been received by the Bank (and even
though the Maximum Liability of the Guarantor may be limited), exercise any right of subrogation, indemnity, set-off or counterclaim against the Customer or any other Guarantor or person or any right to participate in any security the Bank has in
respect of the Guaranteed Monies or, unless required by the Bank to do so, to prove in the bankruptcy or liquidation of the Customer or any other Guarantor. The Guarantor shall hold any amount recovered, as a result of the exercise of any of such
right, on trust for the Bank and shall pay the same to the Bank immediately on receipt. 

  

	 	11.02	 The Guarantor has not taken any security from the Customer or any other Guarantor and agrees not to do so until
the Bank has received the whole of the Guaranteed Monies. Any security taken by the Guarantor in breach of this provision shall be held in trust for the Bank as security for the Guaranteed Monies and all monies at any time received in respect
thereof shall be paid to the Bank immediately on receipt. 

  

	12.	 Negligence in Realisations 

This Guarantee shall not be affected as security for the Guaranteed Monies by any neglect by the Bank, or by any agent or receiver appointed by
the Bank, in connection with the realisation of any other security (whether by way of mortgage guarantee or otherwise) which the Bank may hold now, or at any time in the future, for the Guaranteed Monies. 

 

	13.	 No Waiver 

No act or omission by the Bank pursuant to this Guarantee shall affect its rights, powers and remedies hereunder or any further or other
exercise of such rights, powers or remedies. 
  

	14.	 Assignment 

The Guarantor may not assign or transfer any of its rights or obligations hereunder. The Bank may assign any of its rights hereunder to a
person in whose favour it has made an assignment of all or any of the Banking Facilities. 
  

	15.	 Communications 

Any notice, demand or other communication under this Guarantee shall be in writing addressed to the Guarantor at its registered office address
or at the last address registered with the Bank and if addressed to the Bank at its office specified in the Schedule or such other address as the Bank may notify to the Guarantor for this purpose and may be delivered personally, by leaving it at
such address, by post, facsimile transmission or telex and shall be deemed to have been delivered to the Guarantor at the time of personal delivery or on leaving it at such address if sent by post at the time it would, in the ordinary course of
post, be delivered, if sent by facsimile transmission or telex on the date of despatch, and to the Bank on the day of actual receipt. 

  

			
	LETTER OF GUARANTEE (Limited Amount)	  	Page 4/10

	16.	 Debt Collection and Disclosure of Information 

 

	 	16.01	 The Bank may employ debt collecting agent(s) to collect any sum due under this Guarantee.

  

	 	16.02	 Without prejudicing the rights of the Bank under any other agreement with the Guarantor, the Guarantor consents
to the Bank, for such purposes as the Bank may consider reasonably appropriate, disclosing and/or obtaining information about the Guarantor (including details of all or any transactions or dealings between the Guarantor and the Bank) and this
Guarantee, both within and outside the Hong Kong Special Administrative Region, to or from (as the case may be): 

  

	 	(i)	 any agent, contractor or third party service provider which provides services to the Bank in relation to the
operation of its business (including without limitation administrative, telecommunications, computer, payment or processing services); 

  

	 	(ii)	 credit reference agencies; 

 

	 	(iii)	 any person to whom the Bank proposes to sell, assign or transfer, or has sold, assigned or transferred, all or
any of its rights in relation to this Guarantee or the Banking Facilities; 

  

	 	(iv)	 any company within the HSBC Group, being HSBC Holdings plc and its associated and subsidiary companies from
time to time or any of its or their agents; or 

  

	 	(v)	 any other person, if required or permitted by applicable laws, regulations, regulators’ or other
authorities’ guidelines or judicial process to do so. 

  

	 	16.03	 If any information disclosed by the Guarantor to the Bank includes information of any third party, the
Guarantor confirms and warrants that it has obtained the consent of such third party to the provision of such information to the Bank for such purposes and for disclosure to such persons as referred to in Clause 16.02. The Guarantor agrees to
indemnify and hold the Bank harmless from all costs, penalties, damages and other losses incurred as a result of the Guarantor’s breach of this Clause 16.03. 

 

	17.	 Severability 

Each of the provisions of this Guarantee is severable and distinct from the others and, if one or more of such provisions is or becomes
illegal, invalid or unenforceable, the remaining provisions shall not be affected in any way. 
  

	18.	 Governing Law and Jurisdiction 

 

	 	18.01	 This Guarantee is governed by and shall be construed in accordance with the laws of the Hong Kong Special
Administrative Region (“Hong Kong”). 

  

	 	18.02	 The Guarantor submits to the non-exclusive jurisdiction of the Hong Kong courts but this Guarantee may be
enforced in the courts of any competent jurisdiction. 

  

	 	18.03	 No person other than the Bank and the Guarantor will have any right under the Contracts (Rights of Third
Parties) Ordinance to enforce or enjoy the benefit of any of the provisions of this Guarantee. 

  

	19.	 Governing Version 

A Chinese translation of this Guarantee shall be provided to the Guarantor upon request. The English version is the governing version and shall
prevail whenever there is any discrepancy between the English version and the Chinese version. 
  

	20.	 Process Agent 

If a Process Agent is specified in the Schedule, service of any legal process on the Process Agent shall constitute service on the Guarantor.

  

	21.	 Headings 

In this Guarantee the headings are for guidance only and shall not affect the meaning of any clause. 

 

	22.	 Execution 

IN WITNESS WHEREOF this Guarantee has been executed and delivered by the Guarantor as a deed on 19 Nov 2018. 

  

			
	LETTER OF GUARANTEE (Limited Amount)	  	Page 5/10

 Schedule 
  

			
	 Details of Customer
  

	1.	  	 Name (in Block Letters): SHANGHAI TONGGOU INFORMATION
SCIENCE & TECHNOLOGY CO., LTD
 Address:
 ROOM 302, 3/F,
1000 TIANYAOQIAO ROAD, XUHUI, SHANGHAI, CHINA
  

	2.	  	 Name (in Block Letters):

Address:
  

	3.	  	 Name (in Block Letters):

Address:
  

	4.	  	 Name (in Block
Letters):
 Address:
  

	
	 Details of Guarantor
  

	1.	  	 Name (in Block Letters): ECMOHO (HONG KONG)
LIMITED
 Address:  FLAT/RM 9 4/F BEVERLEY COMMERCIAL CENTRE 87-105 CHATHAM ROAD SOUTH TSIM SHA TSUI KL
HK

		 
		  	 Identification Document Type and Number:

Name of Process Agent:
 Address of Process Agent:

 

	2.  	  	 Name (in Block Letters):

Address:

		 
		  	 Identification Document Type and Number:

Name of Process Agent:
 Address of Process Agent:

 

	3.	  	 Name (in Block Letters):

Address:

		 
		  	 Identification Document Type and Number:

Name of Process Agent:
 Address of Process Agent:

 

	4.	  	 Name (in Block Letters):

Address:

		 
		  	 Identification Document Type and Number:

Name of Process Agent:
 Address of Process Agent:

 

	
	 Specified Sum (in relation to the definition of Maximum Liability)

 

	 	  	Amount: CNY11,000,000
	  
 Address of Bank’s Office (for the purpose of
Clause 15 only)
  

	 	  	27/F, HSBC BUILDING, SHANGHAI IFC, 8 CENTURY AVENUE, PUDONG, SHANGHAI, CHINA

  

			
	LETTER OF GUARANTEE (Limited Amount)	  	Page 6/10

			
	 Execution by Limited Company

 
 A. Executed under the Seal
of the Guarantor in the presence of the following Director(s) and/or Secretary
  

	Name of Guarantor:	  	 
	 Signature of Director/Secretary

/s/ Zeng Qingchun
	  	 Signature of Director/Secretary

Ecmoho (Hong Kong) Limited (seal)
  

	 Full Name (in Block Letters)

ZENG QINGCHUN
  
	  	 Full Name (in Block Letters)

 

	 Address

990 Yongfeng Street Donglian County, Tongling, Anhui, China
  
	  	Address
	 Identification Document Type and Number

PRC ID ***
  
	  	Identification Document Type and Number
	 Duly Authorised by a Board Resolution Dated

2018.11.19.
  
	  	Duly Authorised by a Board Resolution Dated
		
	 Witnessed by:
  
	  	
	 Signature of
Witness
  
	  	Signature of Witness
	 Full Name (in Block Letters)

 
	  	Full Name (in Block Letters)
	 Office

 
	  	Office
	 Identification Document Type and Number

 
	  	Identification Document Type and Number
	    	  	
	Name of Guarantor:	  	 
	 Signature of Director/Secretary

 
	  	Signature of Director/Secretary
	 Full Name (in Block Letters)

 
	  	Full Name (in Block Letters)
	 Address

 
	  	Address
	 Identification Document Type and Number

 
	  	Identification Document Type and Number
	 Duly Authorised by a Board Resolution Dated

 
	  	Duly Authorised by a Board Resolution Dated
		
	 Witnessed by:
  
	  	
	 Signature of Witness

 
	  	 Signature of Witness

 
  

	 Full Name (in Block Letters)

 
	  	Full Name (in Block Letters)
	 Office

 
	  	Office
	 Identification
Document Type and Number
  
	  	Identification Document Type and Number

  

			
	LETTER OF GUARANTEE (Limited Amount)	  	Page 7/10

			
	Name of Guarantor:
	 Signature of Director/Secretary

 
	  	 Signature of Director/Secretary

 
  

	 Full Name (in Block Letters)

 
	  	Full Name (in Block Letters)
	 Address

 
	  	Address
	 Identification Document Type and Number

 
	  	Identification Document Type and Number
	 Duly Authorised by a Board Resolution Dated

 
	  	Duly Authorised by a Board Resolution Dated
		
	 Witnessed by:
  
	  	
	 Signature of
Witness
  
	  	Signature of Witness
	 Full Name (in Block Letters)

 
	  	Full Name (in Block Letters)
	 Office

 
	  	Office
	 Identification Document Type and Number

 
	  	Identification Document Type and Number
	    	  	
	Name of Guarantor:	  	 
	 Signature of Director/Secretary

 
	  	 Signature of Director/Secretary

 
  

	 Full Name (in Block Letters)

 
	  	Full Name (in Block Letters)
	 Address

 
	  	Address
	 Identification Document Type and Number

 
	  	Identification Document Type and Number
	 Duly Authorised by a Board Resolution Dated

 
	  	Duly Authorised by a Board Resolution Dated
		
	 Witnessed by:
  
	  	
	 Signature of
Witness
  
	  	Signature of Witness
	 Full Name (in Block Letters)

 
	  	Full Name (in Block Letters)
	 Office

 
	  	Office
	 Identification Document Type and Number
	  	Identification Document Type and Number

  

			
	LETTER OF GUARANTEE (Limited Amount)	  	Page 8/10

			
	 B. Executed as a deed and signed by the following Director(s) and, if
applicable, Secretary on behalf of the Guarantor:
  

	Name of Guarantor:	  	 
	Signature of Director/Secretary	  	 Signature of
Director/Secretary
  

	Full Name (in Block Letters)	  	 Full Name (in Block
Letters)
  

	Address	  	 Address

 

	Identification Document Type and Number	  	 Identification
Document Type and Number
  

	Duly Authorised by a Board Resolution Dated	  	 Duly Authorised by a
Board Resolution Dated
  

		
	 Witnessed by:
  
	  	
	Signature of Witness	  	 Signature of
Witness
  

	Full Name (in Block Letters)	  	 Full Name (in Block
Letters)
  

	Office	  	 Office

 

	Identification Document Type and Number	  	 Identification
Document Type and Number
  

		
	 Name of Guarantor:
  
	  	
	Signature of Director/Secretary	  	 Signature of
Director/Secretary
  

	Full Name (in Block Letters)	  	 Full Name (in Block
Letters)
  

	Address	  	 Address

 

	Identification Document Type and Number	  	 Identification
Document Type and Number
  

	Duly Authorised by a Board Resolution Dated	  	 Duly Authorised by a
Board Resolution Dated
  

		
	 Witnessed by:
  
	  	
	Signature of Witness	  	 Signature of
Witness
  

	Full Name (in Block Letters)	  	 Full Name (in Block
Letters)
  

	Office	  	 Office

 

	Identification Document Type and Number	  	 Identification
Document Type and Number
  

  

			
	LETTER OF GUARANTEE (Limited Amount)	  	Page 9/10

			
	Name of Guarantor:	  	 
	Signature of Director/Secretary	  	 Signature of
Director/Secretary
  

	Full Name (in Block Letters)	  	 Full Name (in Block
Letters)
  

	Address	  	 Address

 

	Identification Document Type and Number	  	 Identification
Document Type and Number
  

	Duly Authorised by a Board Resolution Dated	  	 Duly Authorised by a
Board Resolution Dated
  

		
	 Witnessed by:
  
	  	
	Signature of Witness	  	 Signature of
Witness
  

	Full Name (in Block Letters)	  	 Full Name (in Block
Letters)
  

	Office	  	 Office

 

	Identification Document Type and Number	  	 Identification
Document Type and Number
  

	    	  	
	Name of Guarantor:	  	 
	Signature of Director/Secretary	  	 Signature of
Director/Secretary
  

	Full Name (in Block Letters)	  	 Full Name (in Block
Letters)
  

	Address	  	 Address

 

	Identification Document Type and Number	  	 Identification
Document Type and Number
  

	Duly Authorised by a Board Resolution Dated	  	 Duly Authorised by a
Board Resolution Dated
  

		
	 Witnessed by:
  
	  	
	Signature of Witness	  	 Signature of
Witness
  

	Full Name (in Block Letters)	  	 Full Name (in Block
Letters)
  

	Office	  	 Office

 

	Identification Document Type and Number	  	 Identification
Document Type and Number
  

  

			
	LETTER OF GUARANTEE (Limited Amount)	  	Page 10/10

 To: HSBC Bank (China) Co., Ltd. Shanghai Branch 

Pledge Agreement on Accounts Receivable 
 1.
    Definition 
 1.1. Definition 
 The
“Bank” means HSBC Bank (China) Company Limited and its successors and assigns, including any of its branches; 
 “Bank credit granting”
means the loan or other credit provided or continuously provided by the Bank to the Client or (as required by the Client) other persons; 

“Customer” means the person whose name and address are listed in Appendix 1; 

“Determining period of claim” means the period during which the claims are specified in Appendix 1. The period of determination of such claims may
be extended upon the consent of the Pledgor. For the avoidance of doubt, in the event of an event or situation as specified in Article 5.1 of the Agreement, the Bank may, at its discretion, shorten the period during which the claim is determined;

 “Debtor of accounts receivable” means a person, listed in Appendix 1, whose name corresponds to the accounts receivable that may bear the
payment obligations, or any person whose name is not included in Appendix 1 is likely to bear the payment obligation for the accounts receivable; 

“Foreign exchange rate” refers to the exchange rate used by the Bank in the relevant foreign exchange market when the currency is exchanged for
another currency at a certain time. The Bank’s decision is final and binding upon the Pledger. 
 “Maximum debt” means the maximum amount of
debt as stated in Appendix 1; 
 “Persons” include individuals, trade names, companies, legal persons and groups without legal person status; 

“Pledgor” means the person whose name and address are listed in Appendix 1; 

For the purposes of the Agreement, “China” means the People’s Republic of China excluding the Hong Kong Special Administrative Region, the
Macao Special Administrative Region and Taiwan; 
 “Receipt Account” refers to the accounts opened by the Pledgor at the Bank or specified by the
Bank from time to time (whether in the name of the Pledgor or in the name of the Bank), with all accounts receivable deposited in accordance with Article 4.1(b); 

“Accounts Receivable” refer to the accounts receivable listed in the description of accounts receivable in Appendix 1, i.e. the Pledgor’s
rights of the debtor of accounts receivable that may be generated due to the underlying transaction or under the underlying transaction, including the rights or benefits corresponding to the money debt of the debtor of the accounts receivable
(whether existing or existing, or actual or contingent): 
 “Guaranteed debts” refer to (i) all contractual monetary obligations in any
currency incurred by the client and owed to the Bank at any time during the period of determining the creditor’s rights; whether such debts are owed payment under the Bank credit granting, or the amount related to the Bank credit granting,
payment owed either separately or jointly with any other person, or actual, contingent, current or future owed payment in any capacity (including in the capacity of the principal debtor or the Guarantor), and (ii) all interest (including
interest penalty, if any) arising on such debts (before the claim or judgment and after the claim or judgment); in order to avoid ambiguity, all debts owed by the client to the Bank at the beginning of the period of determining the creditor’s
rights are parts of the guaranteed amount and are guaranteed under the Letter of Guarantee. 
 “Basic Transaction” means a contract, invoice or
transaction, as contained in the description of accounts receivable in Appendix 1, that may incur the accounts receivable due to it or under its terms, or if it is not included in the description, it means (to the extent permitted by law) any
contract or transaction that may incur accounts receivable due to it or under its terms. 
 1.2. Interpretation 

  
 Page 1/10 

 Any agreement or document refers to the agreement or document as amended, transferred,
revised, renewed or re-stated. A certain legal provision refers to a provision which is amended or re-enacted and includes any subordinate provision. 

 

	2.	 Pledge 

  

	2.1.	 The Pledgor, as the creditor and owner of the accounts receivable, agrees to pledge the accounts receivable to
the Bank in the form of the first-order pledge as a guarantee for repaying the guaranteed debt. The pledge established under the Agreement is the maximum pledge, and the guaranteed debt guaranteed by it is to the extent of the maximum debt.

 For the avoidance of doubt, the pledge established under the Agreement covers the guaranteed debt owed to any branch of
the Bank. 
  

	2.2.	 The Pledgor shall fully compensate for all expenditures (including attorneys’ fees) incurred by the Bank
for the performance of the Agreement. 

  

	2.3.	 For the Pledger, a certificate of arrears signed by any officially authorized staff of the Bank shall, in the
absence of any apparent error, be a final evidence of the amount of the outstanding guaranteed debt. 

  

	2.4.	 In order to protect the interests of the Bank in respect of the guaranteed debt, the Bank is entitled to
maintain the guarantees under the Agreement during the period when the Bank proves to the Pledgor that it is appropriate. 

  

	3.	 Continuous and additional guarantees 

The pledge under the Agreement is a guarantee that is added to any other warranties, mortgages, pledges or other guarantees held by the Bank
and is not subject to or affected by any such other warranties, mortgages, pledges or other warranties, moreover, the pledge under the Agreement may be enforced regardless of the existence or waiver of any such other warranties, mortgages, pledges
or other warranties. The Bank has no obligation to perform any other warranties, mortgages, pledges or guarantees (whether provided by the Client, Pledgor or any other person) before the execution of the pledge under the Agreement, exercises any
rights or requires the Client or any other person to make a payment. 
  

	4.	 Commitment 

  

	4.1.	 The Pledgor commits that: 

 

	 	(a)	 it is the sole creditor and owner of the receivables and there are no guarantees, interests, encumbrances,
claims or other benefits on the accounts receivable (other than those arising from the Agreement) 

  

	 	(b)	 it will recover the accounts receivable in the normal course of business and cash them, and immediately deposit
such proceeds into the collection account upon receipt of any receivables, and ensure that the relevant debtors of the accounts receivable pay the proceeds of the accounts receivable to the collection account until the Pledgor or Bank issues a
notice in accordance with Article 4.1(d); 

  

	 	(c)	 shall not withdraw, transfer, pledge, limit by encumbrance, transfer or otherwise dispose of or deal with any
part of the money in the collection account or any interest thereon; 

  

	 	(d)	 At the request of the Bank at any time, in accordance with the format set out in Appendix 2 (or other format
required by the Bank from time to time), the notice of the pledge of accounts receivable is issued to the relevant debtor of the accounts receivable, provided that this article does not prevent that the Bank, in the name of the Bank or ( pursuant to
the powers conferred by Article 7.1), or in the name of the Pledgor’s agent, issue the pledge notice of accounts receivable under the Agreement to the relevant debtor of the accounts receivable or any other person as it deems appropriate, in
the form it thinks fit, (the Pledgor hereby authorizes the Bank to issue such notice); 

  

	 	(e)	 shall not transfer, pledge, discount, limit by encumbrance, transfer or otherwise dispose of or deal with any
part of the accounts receivable or any interest thereon, or waive or modify any of its interests in such money (except for the payment, receipt and acceptance of such money, except as required by the Bank’s written instructions;

  
 Page 2/10 

	 	(f)	 shall not engage in any act or omission that may prejudice the validity of the Agreement or the pledge under
the Agreement or the rights, interests or powers of the Bank under the Agreement; 

  

	 	(g)	 perform the obligations under the basic transaction with due diligence as soon as possible; take all
reasonable, prudent and necessary measures to ensure that other participants in the basic transaction properly perform the obligations under the basic transaction; and develop and maintain all procedures required or appropriate for the enforcement
of basic transaction or maintenance or protection of the Pledgor’s interest under the basic transaction; 

  

	 	(h)	 notify the Bank of the default of the Pledgor and/or other parties to the basic transaction under the basic
transaction, any disputes, defenses, counterclaims or offsets filed by the debtor of the accounts receivable with respect to the basic transaction or related to any account receivable, and any legal proceedings for the application, implementation or
enforcement of accounts receivable; 

  

	 	(i)	 comply with all information protection, privacy and similar laws applicable to the debtor of accounts
receivable and in formation of accounts receivable, and take appropriate and reasonable action under these laws to assist and facilitate the Bank’s use, processing and transmission of such information; 

 

	 	(j)	 The Pledge Registration Agreement on Accounts Receivable (hereinafter referred to as the “Registration
Agreement”) shall be signed in accordance with the content and format required by the Bank, and the Bank giving the authorization shall, according to the Agreement and the Registration Agreement, pledge and register the accounts receivable in
the pledge registration and publicity system of accounts receivable of the Credit Reference Center, the People’s Bank of China and the relevant registration shall be the registration of first order; and 

 

	 	(k)	 If the Pledgor’s relevant information such as the legal registration name, registered address,
registration number, legal representative or name of the person responsible changes, the Bank shall be notified in writing immediately after such change occurs. 

 

	4.2.	 Notwithstanding the provisions of the Agreement, the Pledgor shall still perform all of its obligations under
the basic transaction and the Bank shall not be liable for any obligations or responsibility arising out of the Agreement or any reason arising therefrom. 

  

	5.	 Enforcement of guarantee 

 

	5.1.	 If: 

  

	 	(a)	 The Client fails to repay any due guaranteed debt (including the debt after expedited expiration);

  

	 	(b)	 The Pledgor violates any term of the Agreement; 

 

	 	(c)	 The Pledgor is unable to or acknowledges that it is unable to repay the debt due, or has gone through the
insolvency, bankruptcy, liquidation or similar legal proceedings against it; or 

  

	 	(d)	 Where the legal proceedings against accounts receivable or other assets of the Pledgor are applied, performed
or enforced, 

 the Bank has the right to perform the Agreement in accordance with any applicable law and without prejudice
to the above general provisions, the Bank: 
  

	 	(A)	 may receive accounts receivable or enforce payment of accounts receivable; 

 

	 	(B)	 may negotiate or reach a compromise with the debtor of accounts receivable; 

 

	 	(C)	 may institute any legal proceedings under or in connection with the basic transaction or accounts receivable;
and/or 

  

	 	(D)	 without making a request, giving notice, initiate legal proceedings or take any other action against the
Pledgor, it may retain all or any part of the accounts receivable for its own benefit at any time it deems appropriate, in any manner it deems appropriate, the accounts receivable or the use of all or any part of the accounts receivable for the
settlement of the guaranteed debts without any restrictions or claims, and the Bank is not responsible for any losses caused by any of the above actions. 

  
 Page 3/10 

	5.2.	 If the currency type of the accounts receivable differs from the currency of the guaranteed debt, the Pledgor
here irrevocably authorizes the Bank and/or any person designated by the Bank to directly receive the accounts receivable without obtaining the consent of the Pledgor. Converted into a currency of guaranteed debt at the foreign exchange rate for the
purpose of repaying the guaranteed debt and sign any documents required for the purpose of such redemption or to take any action for the purpose of such redemption on behalf of the Pledgor. 

 

	6.	 Waiver of defense 

The Pledgor hereby approves and agrees to the following contents and agrees that its obligations under the Agreement shall not be dissolved,
weakened, damaged, reduced or adversely affected by any of the following, and shall waive any legal or other rights (including but not limited to the right to be notified) that may be caused by any of the following or be related to any of the
following: 
  

	 	(a)	 Any amendment or change to the clauses on the bank credit, or any extension or renewal of the bank credit;

  

	 	(b)	 any adjustment, grace, extension, grace period, waiver, consent or compromise given by the Bank to the Client,
Pledgor, debtor of accounts receivable or any other person who is obligated to pay any or all of the guaranteed debts; 

  

	 	(c)	 any warranty or guarantee at any time relating to all or any part of the guaranteed debts or used to secure or
guarantee the payment of all or any part of the guaranteed debts are discharged, exchanged, subordinated or lost; 

  

	 	(d)	 The Bank or any other person fails to perform the obligation of prudence and reasonable care, when preserving,
protecting, executing, selling or otherwise disposing of all or any part of any guarantee; 

  

	 	(e)	 the client or Pledgor is reorganized, combined or merged by any other person or reorganized, combined or merged
with any other person; 

  

	 	(f)	 any terms of the Letter of Credit Granting, loan contract and/or similar financing documents relating to the
guaranteed debt are invalid or unenforceable: or 

  

	 	(g)	 In case of no article, any action or non-action may exempt the
Pledgor’s obligations under any part of the Agreement. 

  

	7.	 Power of Attorney; Further Commitment 

 

	7.1.	 The Pledgor here irrevocably appoints the Bank as its true and legal agent (with full agency power), in the
name of the Pledgor and on behalf of the Pledgor, to conclude or sign all rights certificates, agreements or documents, perform its obligations under the Agreement for the Pledgor (including but not limited to the issuance of notices relating to the
Agreement) or enable the Bank to enjoy all the benefits of the Agreement and its rights and powers granted hereof and the Bank deems appropriate, and in the name of the Pledgor and on behalf of the Pledgor, take all actions and matters perform its
obligations under the Agreement for the Pledgor (including but not limited to the issuance of notices relating to the Agreement) or enable the Bank to enjoy all the benefits of the Agreement and its rights and powers granted hereof and the Bank
deems appropriate. The Pledgor agrees and confirms all acts performed by the Bank in its capacity as an agent when exercising or claiming to exercise the powers conferred on it by this article. 

 

	7.2.	 Where the Bank considers that it benefits the Bank to exercise the powers and rights conferred by the
Agreement, the Pledgor shall sign the relevant documents and make relevant acts at the request of the Bank. 

  

	8.	 Payment 

  

	8.1.	 Any amount paid to the Bank for the guaranteed debts may be used to settle the guaranteed debt or credited to
the account (including the suspense account) determined by the Bank. 

  

	8.2.	 If any payment of the relevant guaranteed debts to the Bank should be returned or any payment, guarantee or
other disposal becomes invalid, should be revoked or returned due to any law relating to insolvency, bankruptcy or liquidation or for any other reason, but the Bank makes any exemption, discharge or arrangement in whole or in part based on such
payment, guarantee or other disposal, the Pledgor’s liability under the Agreement shall continue or be restored as if such payment, exemptions, discharge or arrangements have never occurred. 

  
 Page 4/10 

	9.	 Subordinate 

  

	9.1.	 Before the Bank receives the full guarantee debts, the Pledgor shall not exercise any right of subrogation,
indemnity, set-off or counter-claims against the Client, or exercise any right to participate in any guarantee of the guaranteed debt held by the Bank; or, unless the Bank requires to do so, the
creditor’s rights may not be proved in the course of bankruptcy or liquidation of the client. The Pledgor shall hold any money recovered from the exercise of any such rights for the Bank’s benefit trust and shall pay the money to the Bank
immediately upon receipt of the money. 

  

	9.2.	 The Pledgor has not yet accepted any guarantee from the client and the Pledgor agrees to accept any guarantee
from the client before the Bank receives the full guaranteed debt. Any guarantee accepted by the Pledgor in violation of the article shall be held for the Bank’s benefit trust as a security for the guaranteed debt and all payments received in
respect of such guarantee at any time must be paid to the Bank immediately upon receipt. 

 9.3. Article 9 applies only the case when the
Pledgor and the Client are not the same person. 
  

	10.	 No waiver 

Any failure to exercise or delay in exercising any of the rights or remedies under the Agreement shall not be deemed a waiver of such right or
remedy, and any exercise of any right or remedy, alone or in part, shall not prejudice any further exercise of that right or remedy or exercise of other means or impede the exercise of any other right or remedy. 

 

	11.	 Consent 

The Pledgor agrees that the Bank may disclose to the following persons for the purposes deemed reasonable and appropriate by the Bank and/or
obtain information about the Pledgor from the following persons (including details of all or any transactions or dealings between the Pledgor and the Bank): 
  

	 	(a)	 Any agent, contractor or third party service provider (whether within or outside China) that provides the Bank
with services including administrative, telecommunications, computer, payment, program processing or other banking-related services; 

  

	 	(b)	 Credit counseling service institution; 

 

	 	(c)	 any person to whom the Bank is obliged to disclose it under any applicable law, regulation or judicial
procedure; and 

  

	 	(d)	 any actual or potential participant or sub-participant of the
guaranteed debt (or any part thereof). 

 If such information includes personal or other information of any third party or
individual, the Pledgor confirms and warrants that it has obtained the consent of such third party or individual and agrees to provide such information to the Bank for such purposes and disclose such information to the persons mentioned in the
article. The Pledgor will bear and compensate the Bank for all costs, fines, damages and other losses caused by the Pledgor’s violation of any provision of the article. 
  

	12.	 Transfer 

The Pledgor shall not assign or transfer any of its rights or obligations under the Agreement. The Bank may transfer the Bank’s all or
part of rights under the Agreement to persons who have accepted the all or any part of bank credit granting and/or guaranteed debts. 
  

	13.	 Severability 

If any provision of the Agreement is or is not legal, invalid or unenforceable in any jurisdiction, the legality, validity and enforceability
of the other terms of the Agreement in that jurisdiction and such terms and other terms of other jurisdictions should not be affected or impaired therein. 

  
 Page 5/10 

	14.	 Governing laws and jurisdiction 

 

	14.1.	 The Agreement shall be governed by Chinese law. 

 

	14.2.	 The parties to the Agreement agree to submit the jurisdiction of the Chinese court at the place where the main
business place of the Bank Branch indicated on the first page. Article 14.2 will not restrict the Bank’s right to sue against the Pledgor to any other court with competent jurisdiction with respect to the pledge under the Agreement.

  

	15.	 Address and service 

The Pledgor confirms that the address listed in the Agreement or otherwise retained by the Bank for the purposes of communication, or (if
applicable), the address of its delivery agent is the receipt of notice or document under the Agreement or in connection with the Agreement (including documents sent by the court or arbitral authority relating to litigation or arbitration). For the
Pledgor, any notice or document sent to or retained at the above-mentioned designated address, the Pledgor’s registered address, or returned from the above-mentioned designated address or the Pledgor’s registered address will be deemed to
have been served. 
  

	16.	 Signature 

The Agreement has been signed on the date set out in Appendix 1. 

  
 Page 6/10 

 Signed by the Pledgor: 

Pledgor: Shanghai Tong Gou Information Technology Co., Ltd. (seal) 
  

					
	 Signature of authorized signatory:
  

Special Seal for the Finance of
Shanghai Tong Gou Information
Technology Co., Ltd. (Seal)

Wang Wei (seal)
	  	Signature of authorized signatory:	  	Corporate seal
	 Name
 Wang Wei
	  	Name
	 Identity certification type and No.
 ID card
No. ***
	  	Identity certification type and No.

 Signed by the Bank: 
 Bank:
Shanghai Branch of HSBC Bank (China) Company Limited 
  

			
	Signature of authorized signatory:	  	Signature of authorized signatory:
		
	Name: /s/ Fan Xiaodan	  	Name

  
 Page 7/10 

 Appendix 1 

Details of the client 
  

			
	 Name

Shanghai Tong Gou Information Technology Co., Ltd.
	  	 Address

Room 302, 3/F, No. 1000 Tianyaoqiao Road, Xuhui District, Shanghai, China

 The Pledgor’s details 
  

			
	 Name

Shanghai Tong Gou Information Technology Co., Ltd.
	  	 Address

Room 302, 3/F, No. 1000 Tianyaoqiao Road, Xuhui District, Shanghai, China

 The date of signing the Agreement 
  

	
	November 19, 2018

 Determination period of claim 
  

	
	From November 15, 2018 to November 14, 2023

 Maximum debt 
  

	
	RMB 21,000,000.00

 Description of accounts receivable (pledged property) (please select the applicable party) 

 

					
	
☑
	  	 (1)
	 	The Pledgor’s existing and future accounts receivable for each debtor of accounts receivables as follows.
	 		 
	
☐
	  	 (2)
	 	Under the contract between the Pledgor and each debtor of accounts receivables as follows (the details of such contracts are listed next to the names of the debtors of
such accounts receivables) (including any modifications), the Pledgor’s all existing and future accounts receivables for such debtors of accounts receivable.
	 		 
	
☐
	  	 (3)
	 	Under the invoices issued by the Pledgor listed in the following invoice list or in connection with such invoices, the Pledgor‘s present and future accounts
receivable for each debtor of the accounts receivable.
	 		 
	
☐
	  	 (4)
	 	All the Pledgor’s all existing and future accounts receivables.
	 		 
	
☐
	  	 (5)
	 	All existing and future receivables that are generated by the Pledgor from time to time due to the use, operation, sale, supply, lease, license, transfer or other means of
disposal of the following underlying assets.
	 		 
	
☐
	  	 (6)
	 	Others (please describe herein):

  
 Page 8/10 

 Details of debtor of accounts receivable and the contract (if Items (1), (2) or (3) is selected in the
above description of the accounts receivable, please fill in the name and address of debtor of accounts receivable; if Item (2) is selected in in the above description of the accounts receivable, please fill in the name and date/number of the
contract) 
  

			
	 Name of debtor of accounts
receivable
 Zhejiang Youji Supply Chain Management Co., Ltd.
	  	Name of the contract
	 	 
	 Address of debtor of accounts
receivable
 Room 701, Building 2, No.11, Keyuan Road, Wuyang Street, Deqing County, Huzhou City, Zhejiang Province
	  	Date/No. of contract signed

 Invoice list (if select (3) in the above description of accounts receivable, please fill in) 

 

									
	Invoice number	  	Debtor of accounts receivable	  	Billing date	  	Goods or services	  	Amount
	 	 		 	 
	 	  	 	  	 	  	 	  	 
	 	 		 	 
	 	  	 	  	 	  	 	  	 
	 	 		 	 
	 	  	 	  	 	  	 	  	 

 Underlying assets (if select (5) in the above description of accounts receivable, please describe the relevant assets,
such as the address of the real estate or the name/category of the goods) 

 

     

  
 Page 9/10 

 Appendix 2 

Pledge notice on accounts receivable (format) 

To: Zhejiang Youji Supply Chain Management Co., Ltd. 
 [Pledge
Agreement on Accounts Receivable] (“Agreement”) signed on November 19, 2018 
 We hereby notify you of our rights to you, including the
rights or interests (“Accounts Receivable”) related to your monetary debts (whether existing or future, or actual or contingent), have been pledged by the Agreement to Shanghai Branch of HSBC Bank (China) Company Limited (“the
Bank”): (please select the applicable one) 
  

	☑	 Any contract or transaction between you and us. 

 

	☐	 The date between you and us is (including any modifications). 

 

	☐	 The invoice issued by our company listed in the invoice list attached to this notice. 

Based on the Agreement, you must pay all the amounts under accounts receivable or due amount and amount to be due but payable to the following account in the
Bank or other account indicated by the Bank, or the person indicated by the Bank in the manner indicated by the Bank. 
  

					
	Account Name: Shanghai Tong Gou Information Technology Co., Ltd.	  	Bank: Shanghai Branch of HSBC Bank (China) Company Limited	  	Account number: ***

 Without the prior written consent of the Bank, we may not revoke or change the above authorizations and instructions. 

Please sign a copy attached to this notice and return it to the Bank to confirm receipt of this notice. By signing a copy of this notice, you acknowledge that
you have not received a notice from the third party that you have any interest in the accounts receivable, or that the legal process for accounts receivable has been applied for, implemented or enforced, and you agree to The Bank will be notified in
writing of any such notice in the future. . 
  

			
	 Signed by the Pledgor

Special Seal for the Finance of Shanghai Tong Gou Information
Technology Co., Ltd. (Seal)

Shanghai Tong Gou Information Technology Co., Ltd. (Seal)

Wang Wei (Seal)
	  	Pledgor name: Shanghai Tong Gou Information Technology Co., Ltd.,
	  	Date: 11/19/2018

 To: HSBC Bank (China) Company Limited Shanghai Branch 

We confirm, agree and accept the above. 
  

			
	 Recipient signing
 
                            
	  	Recipient Name: Zhejiang Youji Supply Chain Management Co., Ltd.
	  	date

  
 Page 10/10 

 To: HSBC Bank (China) Co., Ltd. Shanghai Branch 

Deposit Pledge 
 1. For the purpose hereof: 

“Designated account” refers to the account opened by us at the HSBC Bank (China) Co., Ltd. Shanghai Branch (the “Bank”), with details set
out in the appendix hereto. 
 “Foreign exchange rate” refers to the exchange rate used in the relevant foreign exchange markets and determined by
the Bank when one currency is exchanged for another currency at the relevant time. The decision of the Bank is final and binding on us. 
 “Protection
and indemnity obligations” refer to, concerning relevant bank document, all debts and costs of any nature which may be incurred to the Bank due to the Bank’s issue, acceptance and performance or promise of payment of relevant bank
document, may be borne or suffered by the Bank or occur and are related to the Bank’s issue, acceptance and performance or promise of payment of relevant bank document, or are aroused due to the Bank’s issue, acceptance and performance or
promise of payment of relevant bank document in any way, as well as obligations for our arrears for the Bank occurring in any way under any agreement, protection and indemnity, commitment or document as related to or due to the Bank’s issue,
acceptance and performance or promise of payment of relevant bank document. 
 “Loan obligations” refer to, concerning a sum of loan, (1) all
obligations to be fulfilled by us for the Bank under or relating to the relevant loan, or agreement, protection and indemnity, commitment or document, no matter whether existing, upcoming, actual or contingent, and (2) interests of such
obligations (including default interests, if any), no matter before or after be required or judged by the Bank. For the avoidance of ambiguity, loan obligations include (when applicable) obligations to be fulfilled by us for the Bank in the
situation where we exercise the right recourse relating to any discount business at the Bank. 
 “Persons” include individuals, firms, companies,
legal persons and groups without legal personality. 
 “China”, for the purpose of the Agreement, refers to areas of the People’s Republic of
China other than the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan. “Relevant bank document” refers to: 

(a) any L/G, guarantee, protection and indemnity, L/C or standby L/C issued or to be issued by the Bank, or any other commitment or debt burden; or 

(b) any bank acceptance bill accepted or to be accepted by the Bank, with details of such documents set out in the appendix hereto. 

“Relevant loan” refers to: 
 (a) any loan, provision,
discount or other financing provided or to be provided by the Bank for us or as required by us, with details set out in the appendix; or 
 (b) any loan,
provision, discount or other financing provided or to be provided by the Bank for us or as required by us for the purpose of financing, payment or fulfillment of protection and indemnity obligation. 

“Relevant transaction” refers to relevant bank document or relevant loan. 

“Guaranteed obligations” refer to protection and indemnity obligations and/or loan obligations. 

Any agreement or document refers to the agreement or document as amended, transferred, revised, renewed or re-stated.
A certain legal provision refers to a provision which is amended or re-enacted and includes any subordinate provision. 

  
 1 

	2.	 We hereby unconditionally and irrevocably agree to fulfill the guaranteed obligations relating to each relevant
transaction for the Bank, and authorize the Bank to immediately debit a sum of monies from the designated account, such as monies specified in the appendix, as a sum of deposits for the guaranteed obligations (the “Deposits”).

  

	3.	 The Deposits bear no interests. 

 

	4.	 The Bank is entitled to hold each sum of Deposits and deposit them into any account in the name of the Bank or
designated or maintained by the Bank. We agree to pledge the Deposits to the Bank as the guarantee for relevant guaranteed obligations. Each pledge over the Deposits hereunder (the “Pledge”) is an irrevocable and continuous guarantee, and
shall be continuously and fully effective before we have fully and finally fulfilled any and all relevant guaranteed obligations in a way satisfactory to the Bank. If the currency of the Deposits is different from that of the guaranteed obligations
and the percentage of the Deposits in the guaranteed obligations declines due to a change in the foreign exchange rate, we will unconditionally agree to add the deposits (such deposits constitute a part of the “Deposits” defined hereunder)
as required by the Bank, so that the percentage of the Deposits (including such added deposits) in the guaranteed obligations remains unchanged at the time of calculation by the foreign exchange rate applicable at that time. 

 

	5.	 We hereby irrevocably agree and authorize the Bank to directly deduct any deposits at any time for the
fulfillment of relevant guaranteed obligations, with no need to notify us in advance. If the currency of the Deposits is different from that of the guaranteed obligations, we hereby irrevocably authorize the Bank and/or any person designated by the
Bank to directly convert the Deposits into the currency of the guaranteed obligations by the foreign exchange rate at any proper time as deemed by the Bank and/or the person, with no need to otherwise obtain our consent, in order to immediately
fulfill the guaranteed obligations (no matter whether mature or not) or credit them into an account determined by the Bank (including temporary account), and sign any document on behalf of us or take any necessary action for the purpose of such
conversion. If the Bank cancels the pledge over the Deposits in whole or in part at its own discretion, the Bank will be entitled to pay relevant Deposits by cash, transfer (to the designated account or any other account determined by the Bank)
and/or any other payment instrument. We agree that the partial cancellation of any pledge will not affect or impair the legitimacy, effectiveness or enforceability of the pledge over the remaining Deposits or any other pledge in any respect.

  

	6.	 A certificate of debts signed by any appropriately authorized employee of the Bank shall, in the absence of any
obvious error, be a final proof of the unpaid amount of the guaranteed obligation for us. 

  

	7.	 The pledge hereunder is a guarantee other than any other warranty, mortgage, pledge or guarantee (no matter
whether provided by the debtor of the guaranteed obligations) held by the Bank, and is not restricted or affected by such other warranty, mortgage, pledge or guarantee. No matter whether such other warranty, mortgage, pledge or guarantee exists or
is waived or changed, our guarantee responsibilities hereunder will not be changed or be exempted from and the pledge hereunder will be still enforceable. The Bank may execute the pledge hereunder, or any other warranty or guarantee (no matter
whether provided by the debtor of the guaranteed obligations), exercise any rights or require us or any other person to make a payment. 

  

	8.	 We hereby approve and agree to the following contents, and agree that the pledge under the Document shall not
be released, weakened, damaged, reduced or adversely affected by any of the following contents, and waive any legal or other right (including but not limited to the right to be notified) which may be separately owned, and which is caused by or
related to any of the following contents: 

  

	(a)	 Any modification or change of the relevant transactions, or any renewal, or extension of the relevant
transactions: 

  

	(b)	 Any adjustment, grace, extension, grace period, waiver, consent or compromise that may be granted or given to
us or to any other person who is obligated to make payment to any or all the guaranteed obligations: 

  

	(c)	 cancellation, waiver, exchange, subordination or loss of any warranty or guarantee in connection with all or
any part of the guaranteed obligations or used to warrant or guarantee the payment for all or any part of the guaranteed obligations at any time; 

  
 2 

	(d)	 the Bank or any other person failing to fulfill the obligation of prudence or reasonable care, when preserving,
protecting, executing, selling or otherwise disposing of all or any part of any guarantee; 

  

	(e)	 our reorganization, consolidation or merger by or with any other person; 

 

	(f)	 Invalidity or unenforceability of any terms or agreements of the relevant transactions; or

  

	(g)	 in case of no this article, probable exemption from any other act or omission of any part of our obligations
hereunder. 

  

	9.	 Any failure to exercise or delay in exercising any right or remedy hereunder shall not be deemed as a waiver of
such right or remedy, and any separate or partial exercise of any right or remedy shall not prejudice any further exercise or otherwise exercise of such right or remedy or the exercise of any other rights or remedies. Any content hereof shall not
restrict or damage rights obtained by the Bank according to any other agreement or document concluded by and between the Bank and us. 

  

	10.	 Without the prior written consent of the Bank, we will not transfer any of our rights or obligations hereunder.
The Bank may transfer all or any of its rights relating to the pledge hereunder to any person accepting all or any of its rights and rights of claim under the relevant transaction. 

 

	11.	 Where any clause or pledge hereof is or becomes illegal, invalid or unenforceable in any aspect in any judicial
district, the legality, validity and enforceability of other clauses or other pledges hereof in such judicial district and the legality, validity and enforceability of such clause and other clauses or such pledge or other pledges in other judicial
district shall not be affected or impaired thereby. 

  

	12.	 The Document is governed by Chinese laws. We agree about the judicial jurisdiction of the Chinese court where
the main place of the branch of HSBC Bank (China) Company Limited indicated on the first page is located. Any provision of this Article 12 does not restrict the Bank’s right to institute legal proceedings against us concerning any pledge
hereunder to any other court with proper jurisdiction. 

  

	13.	 The Document is signed at the date specified in the appendix hereto. Each pledge hereunder will take effect as
of the date when the Bank receives the Document signed by us and debits relevant Deposits from the designated account. 

 Note: Only
one appendix can be selected as per proper situation, and other appendixes must be deleted. 

  
 3 

 Appendix 

(Applicable to the relevant loan provided or to be provided by the following bank, excluding the discount of bank acceptance bills) 

 

			
	Relevant loan
	Type of relevant loan:	  	
☐   Post-shipment buyer’s loan used for paying for bills under the documentary L/C (also
known as the import loan relating to the documentary L/C)
  

Ö   Post-shipment buyer’s loan (also known as
unsecured import loan) related to credit sales or used to pay bills under documentary collection
  

☐   Before-shipment buyer’s loan (also known as before-shipment procurement loan)

 
 ☐   Post-shipment
buyer’s loan - trade facilitation and service loan
  

☐   Overseas payment for others

 
 ☐   Before-shipment
seller’s loan - manufacturer’s loan
  

☐   Before-shipment seller’s loan - packing loan

 
 ☐   Others (please
specify: )

	Application date:	  	June 14, 2019
	Amount:	  	CNY 9,409,369.37
	Maturity date/term (if any):	  	 
	Remarks:	  	(Please supplement remarks as per relevant application, if necessary)

  

			
	Designated account	  	715-058202-011

	Amount of Deposits	  	CNY 2,822,810.81
	 Signing date of the
Document
	  	June 14, 2019

  
 4 

 Signed by: Shanghai Tong Gou Information Science & Technology Co., Ltd. 

 

					
	 Signature of authorized signatory:

 
 /s/ Wang Wei

 
 Special Seal for the Finance of Shanghai Tong Gou
Information Science & Technology Co., Ltd. (Seal)
	  	Signature of authorized signatory:	  	
Corporate seal
  

  

	Name	  	Name
	 Identity certification type and No.
	  	 Identity certification type and
No.

  
 5 

 To: HSBC Bank (China) Co., Ltd. Shanghai Branch 

Deposit Pledge 
 1.     Under the Document:

 “Designated account” refers to the account opened by us at the HSBC Bank (China) Co., Ltd. Shanghai Branch (the “Bank”), with details
set out in the appendix hereto. 
 “Foreign exchange rate” refers to the exchange rate used in the relevant foreign exchange markets and
determined by the Bank when one currency is exchanged for another currency at the relevant time. The decision of the Bank is final and binding on us. 

“Protection and indemnity obligations” refer to, concerning relevant bank document, all debts and costs of any nature which may be incurred to the
Bank due to the Bank’s issue, acceptance and performance or promise of payment of relevant bank document, may be borne or suffered by the Bank or occur and are related to the Bank’s issue, acceptance and performance or promise of payment
of relevant bank document, or are aroused due to the Bank’s issue, acceptance and performance or promise of payment of relevant bank document in any way, as well as obligations for our arrears for the Bank occurring in any way under any
agreement, protection and indemnity, commitment or document as related to or due to the Bank’s issue, acceptance and performance or promise of payment of relevant bank document. 

“Loan obligations” refer to, concerning a sum of loan, (1) all obligations to be fulfilled by us for the Bank under or relating to the relevant
loan, or agreement, protection and indemnity, commitment or document, no matter whether existing, upcoming, actual or contingent, and (2) interests of such obligations (including default interests, if any), no matter before or after be required
or judged by the Bank. For the avoidance of ambiguity, loan obligations include (when applicable) obligations to be fulfilled by us for the Bank in the situation where we exercise the right recourse relating to any discount business at the Bank.

 “Persons” include individuals, firms, companies, legal persons and groups without legal personality. 

“China”, for the purpose of the Agreement, refers to areas of the People’s Republic of China other than the Hong Kong Special Administrative
Region, the Macao Special Administrative Region and Taiwan. “Relevant bank documents” refer to: 
  

	(a)	 any L/G, guarantee, protection and indemnity, L/C or standby L/C issued or to be issued by the Bank, or any
other commitment or debt burden; or 

  

	(b)	 any bank acceptance bill accepted or to be accepted by the Bank, with details of such documents set out in the
appendix hereto. 

 “Relevant loan” refers to: 
  

	(a)	 any loan, provision, discount or other financing provided or to be provided by the Bank for us or as required
by us, with details set out in the appendix; or 

  

	(b)	 any loan, provision, discount or other financing provided or to be provided by the Bank for us or as required
by us for the purpose of financing, payment or fulfillment of protection and indemnity obligation. 

 “Relevant transaction”
refers to relevant bank document or relevant loan. 
 “Guaranteed obligations” refer to protection and indemnity obligations and/or loan
obligations. 
 Any agreement or document refers to the agreement or document as amended, transferred, revised, renewed or
re-stated. A certain legal provision refers to a provision which is amended or re-enacted and includes any subordinate provision. 

  
 1 

	2.	 We hereby unconditionally and irrevocably agree to fulfill the guaranteed obligations relating to each relevant
transaction for the Bank, and authorize the Bank to immediately debit a sum of monies from the designated account, such as monies specified in the appendix, as a sum of deposits for the guaranteed obligations (the “Deposits”).

  

	3.	 The Deposits bear no interests. 

 

	4.	 The Bank is entitled to hold each sum of Deposits and deposit them into any account in the name of the Bank or
designated or maintained by the Bank. We agree to pledge the Deposits to the Bank as the guarantee for relevant guaranteed obligations. Each pledge over the Deposits hereunder (the “Pledge”) is an irrevocable and continuous guarantee, and
shall be continuously and fully effective before we have fully and finally fulfilled any and all relevant guaranteed obligations in a way satisfactory to the Bank. If the currency of the Deposits is different from that of the guaranteed obligations
and the percentage of the Deposits in the guaranteed obligations declines due to a change in the foreign exchange rate, we will unconditionally agree to add the deposits (such deposits constitute a part of the “Deposits” defined hereunder)
as required by the Bank, so that the percentage of the Deposits (including such added deposits) in the guaranteed obligations remains unchanged at the time of calculation by the foreign exchange rate applicable at that time. 

 

	5.	 We hereby irrevocably agree and authorize the Bank to directly deduct any deposits at any time for the
fulfillment of relevant guaranteed obligations, with no need to notify us in advance. If the currency of the Deposits is different from that of the guaranteed obligations, we hereby irrevocably authorize the Bank and/or any person designated by the
Bank to directly convert the Deposits into the currency of the guaranteed obligations by the foreign exchange rate at any proper time as deemed by the Bank and/or the person, with no need to otherwise obtain our consent, in order to immediately
fulfill the guaranteed obligations (no matter whether mature or not) or credit them into an account determined by the Bank (including temporary account), and sign any document on behalf of us or take any necessary action for the purpose of such
conversion. If the Bank cancels the pledge over the Deposits in whole or in part at its own discretion, the Bank will be entitled to pay relevant Deposits by cash, transfer (to the designated account or any other account determined by the Bank)
and/or any other payment instrument. We agree that the partial cancellation of any pledge will not affect or impair the legitimacy, effectiveness or enforceability of the pledge over the remaining Deposits or any other pledge in any respect.

  

	6.	 A certificate of debts signed by any appropriately authorized employee of the Bank shall, in the absence of any
obvious error, be a final proof of the unpaid amount of the guaranteed obligation for us. 

  

	7.	 The pledge hereunder is a guarantee other than any other warranty, mortgage, pledge or guarantee (no matter
whether provided by the debtor of the guaranteed obligations) held by the Bank, and is not restricted or affected by such other warranty, mortgage, pledge or guarantee. No matter whether such other warranty, mortgage, pledge or guarantee exists or
is waived or changed, our guarantee responsibilities hereunder will not be changed or be exempted from and the pledge hereunder will be still enforceable. The Bank may execute the pledge hereunder, or any other warranty or guarantee (no matter
whether provided by the debtor of the guaranteed obligations), exercise any rights or require us or any other person to make a payment. 

  

	8.	 We hereby approve and agree to the following contents, and agree that the pledge under the Document shall not
be released, weakened, damaged, reduced or adversely affected by any of the following contents, and waive any legal or other right (including but not limited to the right to be notified) which may be separately owned, and which is caused by or
related to any of the following contents: 

  

	(a)	 Any modification or change of the relevant transactions, or any renewal, or extension of the relevant
transactions: 

  

	(b)	 Any adjustment, grace, extension, grace period, waiver, consent or compromise that may be granted or given to
us or to any other person who is obligated to make payment to any or all the guaranteed obligations: 

  
 2 

	(c)	 cancellation, waiver, exchange, subordination or loss of any warranty or guarantee in connection with all or
any part of the guaranteed obligations or used to warrant or guarantee the payment for all or any part of the guaranteed obligations at any time; 

  

	(d)	 the Bank or any other person failing to fulfill the obligation of prudence or reasonable care, when preserving,
protecting, executing, selling or otherwise disposing of all or any part of any guarantee; 

  

	(e)	 our reorganization, consolidation or merger by or with any other person; 

 

	(f)	 Invalidity or unenforceability of any terms or agreements of the relevant transactions; or

  

	(g)	 in case of no this article, probable exemption from any other act or omission of any part of our obligations
hereunder. 

  

	9.	 Any failure to exercise or delay in exercising any right or remedy hereunder shall not be deemed as a waiver of
such right or remedy, and any separate or partial exercise of any right or remedy shall not prejudice any further exercise or otherwise exercise of such right or remedy or the exercise of any other rights or remedies. Any content hereof shall not
restrict or damage rights obtained by the Bank according to any other agreement or document concluded by and between the Bank and us. 

  

	10.	 Without the prior written consent of the Bank, we will not transfer any of our rights or obligations hereunder.
The Bank may transfer all or any of its rights relating to the pledge hereunder to any person accepting all or any of its rights and rights of claim under the relevant transaction. 

 

	11.	 Where any clause or pledge hereof is or becomes illegal, invalid or unenforceable in any aspect in any judicial
district, the legality, validity and enforceability of other clauses or other pledges hereof in such judicial district and the legality, validity and enforceability of such clause and other clauses or such pledge or other pledges in other judicial
district shall not be affected or impaired thereby. 

  

	12.	 The Document is governed by Chinese laws. We agree about the judicial jurisdiction of the Chinese court where
the main place of the branch of HSBC Bank (China) Company Limited indicated on the first page is located. Any provision of this Article 12 does not restrict the Bank’s right to institute legal proceedings against us concerning any pledge
hereunder to any other court with proper jurisdiction. 

  

	13.	 The Document is signed at the date specified in the appendix hereto. Each pledge hereunder will take effect as
of the date when the Bank receives the Document signed by us and debits relevant Deposits from the designated account. 

  
 3 

 Appendix 

(Applicable to the relevant loan provided or to be provided by the following bank, excluding the discount of bank acceptance bills) 

 

			
	Relevant loan
	Type of relevant loan:	  	
☐   Post-shipment buyer’s loan used for paying for bills under the documentary L/C (also
known as the import loan relating to the documentary L/C)
  

Ö   Post-shipment buyer’s loan (also known as
unsecured import loan) related to credit sales or used to pay bills under documentary collection
  

☐   Before-shipment buyer’s loan (also known as before-shipment procurement loan)

 
 ☐   Post-shipment
buyer’s loan - trade facilitation and service loan
  

☐   Overseas payment for others

 
 ☐   Before-shipment
seller’s loan - manufacturer’s loan
  

☐   Before-shipment seller’s loan - packing loan

 
 ☐   Others (please
specify: )
  

	Application date:	  	Monday, May 6, 2019
	Amount:	  	5,541,933.25
	Maturity date/term (if any):	  	 
	Remarks:	  	(Please supplement remarks as per relevant application, if necessary)

  

			
	 Designated account
	  	715-058202-011

	 Amount of Deposits
	  	CNY1,662,579.98
	 Signing date of the
Document
	  	May 6, 2019

  
 4 

 Signed by: Shanghai Tong Gou Information Science & Technology Co., Ltd. 

 

					
	 Signature of authorized signatory:

 
 /s/ Wang Wei

 
 Special Seal for the Finance of Shanghai Tong Gou
Information Science & Technology Co., Ltd. (Seal)
	  	Signature of authorized signatory:	  	
Corporate seal
  

  

	 Name

Wang Wei
	  	Name
	 Identity certification type and No.

ID card No. ***
	  	Identity certification type and No.

  
 5 

 To: HSBC Bank (China) Co., Ltd. Shanghai Branch 

Deposit Pledge 
 1. For the purpose hereof: 

“Designated account” refers to the account opened by us at the HSBC Bank (China) Co., Ltd. Shanghai Branch (the “Bank”), with details set
out in the appendix hereto. 
 “Foreign exchange rate” refers to the exchange rate used in the relevant foreign exchange markets and determined by
the Bank when one currency is exchanged for another currency at the relevant time. The decision of the Bank is final and binding on us. 
 “Protection
and indemnity obligations” refer to, concerning relevant bank document, all debts and costs of any nature which may be incurred to the Bank due to the Bank’s issue, acceptance and performance or promise of payment of relevant bank
document, may be borne or suffered by the Bank or occur and are related to the Bank’s issue, acceptance and performance or promise of payment of relevant bank document, or are aroused due to the Bank’s issue, acceptance and performance or
promise of payment of relevant bank document in any way, as well as obligations for our arrears for the Bank occurring in any way under any agreement, protection and indemnity, commitment or document as related to or due to the Bank’s issue,
acceptance and performance or promise of payment of relevant bank document. 
 “Loan obligations” refer to, concerning a sum of loan, (1) all
obligations to be fulfilled by us for the Bank under or relating to the relevant loan, or agreement, protection and indemnity, commitment or document, no matter whether existing, upcoming, actual or contingent, and (2) interests of such
obligations (including default interests, if any), no matter before or after be required or judged by the Bank. For the avoidance of ambiguity, loan obligations include (when applicable) obligations to be fulfilled by us for the Bank in the
situation where we exercise the right recourse relating to any discount business at the Bank. 
 “Persons” include individuals, firms, companies,
legal persons and groups without legal personality. 
 “China”, for the purpose of the Agreement, refers to areas of the People’s Republic of
China other than the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan. 
 “Relevant bank documents”
refer to: 
  

	(a)	 any L/G, guarantee, protection and indemnity, L/C or standby L/C issued or to be issued by the Bank, or any
other commitment or debt burden; or 

  

	(b)	 any bank acceptance bill accepted or to be accepted by the Bank, with details of such documents set out in the
appendix hereto. 

 “Relevant loan” refers to: 
  

	(a)	 any loan, provision, discount or other financing provided or to be provided by the Bank for us or as required
by us, with details set out in the appendix; or 

  

	(b)	 any loan, provision, discount or other financing provided or to be provided by the Bank for us or as required
by us for the purpose of financing, payment or fulfillment of protection and indemnity obligation. 

 “Relevant transaction”
refers to relevant bank document or relevant loan. 
 “Guaranteed obligations” refer to protection and indemnity obligations and/or loan
obligations. 
 Any agreement or document refers to the agreement or document as amended, transferred, revised, renewed or
re-stated. A certain legal provision refers to a provision which is amended or re-enacted and includes any subordinate provision. 

  
 1 

	2.	 We hereby unconditionally and irrevocably agree to fulfill the guaranteed obligations relating to each relevant
transaction for the Bank, and authorize the Bank to immediately debit a sum of monies from the designated account, such as monies specified in the appendix, as a sum of deposits for the guaranteed obligations (the “Deposits”).

  

	3.	 The Deposits bear no interests. 

 

	4.	 The Bank is entitled to hold each sum of Deposits and deposit them into any account in the name of the Bank or
designated or maintained by the Bank. We agree to pledge the Deposits to the Bank as the guarantee for relevant guaranteed obligations. Each pledge over the Deposits hereunder (the “Pledge”) is an irrevocable and continuous guarantee, and
shall be continuously and fully effective before we have fully and finally fulfilled any and all relevant guaranteed obligations in a way satisfactory to the Bank. If the currency of the Deposits is different from that of the guaranteed obligations
and the percentage of the Deposits in the guaranteed obligations declines due to a change in the foreign exchange rate, we will unconditionally agree to add the deposits (such deposits constitute a part of the “Deposits” defined hereunder)
as required by the Bank, so that the percentage of the Deposits (including such added deposits) in the guaranteed obligations remains unchanged at the time of calculation by the foreign exchange rate applicable at that time. 

 

	5.	 We hereby irrevocably agree and authorize the Bank to directly deduct any deposits at any time for the
fulfillment of relevant guaranteed obligations, with no need to notify us in advance. If the currency of the Deposits is different from that of the guaranteed obligations, we hereby irrevocably authorize the Bank and/or any person designated by the
Bank to directly convert the Deposits into the currency of the guaranteed obligations by the foreign exchange rate at any proper time as deemed by the Bank and/or the person, with no need to otherwise obtain our consent, in order to immediately
fulfill the guaranteed obligations (no matter whether mature or not) or credit them into an account determined by the Bank (including temporary account), and sign any document on behalf of us or take any necessary action for the purpose of such
conversion. If the Bank cancels the pledge over the Deposits in whole or in part at its own discretion, the Bank will be entitled to pay relevant Deposits by cash, transfer (to the designated account or any other account determined by the Bank)
and/or any other payment instrument. We agree that the partial cancellation of any pledge will not affect or impair the legitimacy, effectiveness or enforceability of the pledge over the remaining Deposits or any other pledge in any respect.

  

	6.	 A certificate of debts signed by any appropriately authorized employee of the Bank shall, in the absence of any
obvious error, be a final proof of the unpaid amount of the guaranteed obligation for us. 

  

	7.	 The pledge hereunder is a guarantee other than any other warranty, mortgage, pledge or guarantee (no matter
whether provided by the debtor of the guaranteed obligations) held by the Bank, and is not restricted or affected by such other warranty, mortgage, pledge or guarantee. No matter whether such other warranty, mortgage, pledge or guarantee exists or
is waived or changed, our guarantee responsibilities hereunder will not be changed or be exempted from and the pledge hereunder will be still enforceable. The Bank may execute the pledge hereunder, or any other warranty or guarantee (no matter
whether provided by the debtor of the guaranteed obligations), exercise any rights or require us or any other person to make a payment. 

  

	8.	 We hereby approve and agree to the following contents, and agree that the pledge under the Document shall not
be released, weakened, damaged, reduced or adversely affected by any of the following contents, and waive any legal or other right (including but not limited to the right to be notified) which may be separately owned, and which is caused by or
related to any of the following contents: 

  

	(a)	 Any modification or change of the relevant transactions, or any renewal, or extension of the relevant
transactions: 

  

	(b)	 Any adjustment, grace, extension, grace period, waiver, consent or compromise that may be granted or given to
us or to any other person who is obligated to make payment to any or all the guaranteed obligations: 

  

	(c)	 cancellation, waiver, exchange, subordination or loss of any warranty or guarantee in connection with all or
any part of the guaranteed obligations or used to warrant or guarantee the payment for all or any part of the guaranteed obligations at any time; 

  
 2 

	(d)	 the Bank or any other person failing to fulfill the obligation of prudence or reasonable care, when preserving,
protecting, executing, selling or otherwise disposing of all or any part of any guarantee; 

  

	(e)	 our reorganization, consolidation or merger by or with any other person; 

 

	(f)	 Invalidity or unenforceability of any terms or agreements of the relevant transactions; or

  

	(g)	 in case of no this article, probable exemption from any other act or omission of any part of our obligations
hereunder. 

  

	9.	 Any failure to exercise or delay in exercising any right or remedy hereunder shall not be deemed as a waiver of
such right or remedy, and any separate or partial exercise of any right or remedy shall not prejudice any further exercise or otherwise exercise of such right or remedy or the exercise of any other rights or remedies. Any content hereof shall not
restrict or damage rights obtained by the Bank according to any other agreement or document concluded by and between the Bank and us. 

  

	10.	 Without the prior written consent of the Bank, we will not transfer any of our rights or obligations hereunder.
The Bank may transfer all or any of its rights relating to the pledge hereunder to any person accepting all or any of its rights and rights of claim under the relevant transaction. 

 

	11.	 Where any clause or pledge hereof is or becomes illegal, invalid or unenforceable in any aspect in any judicial
district, the legality, validity and enforceability of other clauses or other pledges hereof in such judicial district and the legality, validity and enforceability of such clause and other clauses or such pledge or other pledges in other judicial
district shall not be affected or impaired thereby. 

  

	12.	 The Document is governed by Chinese laws. We agree about the judicial jurisdiction of the Chinese court where
the main place of the branch of HSBC Bank (China) Company Limited indicated on the first page is located. Any provision of this Article 12 does not restrict the Bank’s right to institute legal proceedings against us concerning any pledge
hereunder to any other court with proper jurisdiction. 

  

	13.	 The Document is signed at the date specified in the appendix hereto. Each pledge hereunder will take effect as
of the date when the Bank receives the Document signed by us and debits relevant Deposits from the designated account. 

  
 3 

 Appendix 

(Applicable to the relevant loan provided or to be provided by the following bank, excluding the discount of bank acceptance bills) 

 

			
	Relevant loan
	Type of relevant loan:	  	
☐   Post-shipment buyer’s loan used for paying for bills under the documentary L/C (also
known as the import loan relating to the documentary L/C)
  

Ö   Post-shipment buyer’s loan (also known as
unsecured import loan) related to credit sales or used to pay bills under documentary collection
  

☐   Before-shipment buyer’s loan (also known as before-shipment procurement loan)

 
 ☐   Post-shipment
buyer’s loan - trade facilitation and service loan
  

☐   Overseas payment for others

 
 ☐   Before-shipment
seller’s loan - manufacturer’s loan
  

☐   Before-shipment seller’s loan - packing loan

 
 ☐   Others (please
specify: )
  

	 Application date:

 
	  	 April 24,
2019
  

	 Amount:
  
	  	 4,458,066.75

 

	 Maturity date/term (if any):

 
	  	 
	 Remarks:
  
	  	 (Please supplement
remarks as per relevant application, if necessary)
  

  

			
	 Designated account

 
	  	 715-058202-011
  

	 Amount of Deposits

 
	  	 CNY1,337,420.03

 

	 Signing date of the Document

 
	  	 April 24,
2019
  

  
 4 

 Signed by: Shanghai Tong Gou Information Science & Technology Co., Ltd. 

 

					
	 Signature of authorized signatory:

 
 /s/ Wang Wei

 
 Special Seal for the Finance of Shanghai Tong Gou
Information Science & Technology Co., Ltd. (Seal)
	  	Signature of authorized signatory:	  	
Corporate seal
  

  

	 Name

Wang Wei
	  	Name
	 Identity certification type and No.

ID card No. ***
	  	Identity certification type and No.

  
 5 

 To: HSBC Bank (China) Co., Ltd. Shanghai Branch 

Deposit Pledge 
 1. For the purpose hereof: 

“Designated account” refers to the account opened by us at the HSBC Bank (China) Co., Ltd. Shanghai Branch (the “Bank”), with details set
out in the appendix hereto. 
 “Foreign exchange rate” refers to the exchange rate used in the relevant foreign exchange markets and determined by
the Bank when one currency is exchanged for another currency at the relevant time. The decision of the Bank is final and binding on us. 
 “Protection
and indemnity obligations” refer to, concerning relevant bank document, all debts and costs of any nature which may be incurred to the Bank due to the Bank’s issue, acceptance and performance or promise of payment of relevant bank
document, may be borne or suffered by the Bank or occur and are related to the Bank’s issue, acceptance and performance or promise of payment of relevant bank document, or are aroused due to the Bank’s issue, acceptance and performance or
promise of payment of relevant bank document in any way, as well as obligations for our arrears for the Bank occurring in any way under any agreement, protection and indemnity, commitment or document as related to or due to the Bank’s issue,
acceptance and performance or promise of payment of relevant bank document. 
 “Loan obligations” refer to, concerning a sum of loan, (1) all
obligations to be fulfilled by us for the Bank under or relating to the relevant loan, or agreement, protection and indemnity, commitment or document, no matter whether existing, upcoming, actual or contingent, and (2) interests of such
obligations (including default interests, if any), no matter before or after be required or judged by the Bank. For the avoidance of ambiguity, loan obligations include (when applicable) obligations to be fulfilled by us for the Bank in the
situation where we exercise the right recourse relating to any discount business at the Bank. 
 “Persons” include individuals, firms, companies,
legal persons and groups without legal personality. 
 “China” refers to the People’s Republic of China, excluding the Hong Kong Special
Administrative Region, the Macao Special Administrative Region and Taiwan for the purpose of the Document, 
 “Relevant bank documents” refer to:

  

	(a)	 any L/G, guarantee, protection and indemnity, L/C or standby L/C issued or to be issued by the Bank, or any
other commitment or debt burden; or 

  

	(b)	 any bank acceptance bill accepted or to be accepted by the Bank, with details of such documents set out in the
appendix hereto. 

 “Relevant loan” refers to: 
  

	(a)	 any loan, provision, discount or other financing provided or to be provided by the Bank for us or as required
by us, with details set out in the appendix; or 

  

	(b)	 any loan, provision, discount or other financing provided or to be provided by the Bank for us or as required
by us for the purpose of financing, payment or fulfillment of protection and indemnity obligation. 

 “Relevant transaction”
refers to relevant bank document or relevant loan. 
 “Guaranteed obligations” refer to protection and indemnity obligations and/or loan
obligations. 
 Any agreement or document refers to the agreement or document as amended, transferred, revised, renewed or
re-stated. A certain legal provision refers to a provision which is amended or re-enacted and includes any subordinate provision. 

  
 1 

	2.	 We hereby unconditionally and irrevocably agree to fulfill the guaranteed obligations relating to each relevant
transaction for the Bank, and authorize the Bank to immediately debit a sum of monies from the designated account, such as monies specified in the appendix, as a sum of deposits for the guaranteed obligations (the “Deposits”).

  

	3.	 The Deposits bear no interests. 

 

	4.	 The Bank is entitled to hold each sum of Deposits and deposit them into any account in the name of the Bank or
designated or maintained by the Bank. We agree to pledge the Deposits to the Bank as the guarantee for relevant guaranteed obligations. Each pledge over the Deposits hereunder (the “Pledge”) is an irrevocable and continuous guarantee, and
shall be continuously and fully effective before we have fully and finally fulfilled any and all relevant guaranteed obligations in a way satisfactory to the Bank. If the currency of the Deposits is different from that of the guaranteed obligations
and the percentage of the Deposits in the guaranteed obligations declines due to a change in the foreign exchange rate, we will unconditionally agree to add the deposits (such deposits constitute a part of the “Deposits” defined hereunder)
as required by the Bank, so that the percentage of the Deposits (including such added deposits) in the guaranteed obligations remains unchanged at the time of calculation by the foreign exchange rate applicable at that time. 

 

	5.	 We hereby irrevocably agree and authorize the Bank to directly deduct any deposits at any time for the
fulfillment of relevant guaranteed obligations, with no need to notify us in advance. If the currency of the Deposits is different from that of the guaranteed obligations, we hereby irrevocably authorize the Bank and/or any person designated by the
Bank to directly convert the Deposits into the currency of the guaranteed obligations by the foreign exchange rate, with no need to otherwise obtain our consent, in order to immediately fulfill the guaranteed obligations, and sign any document on
behalf of us or take any necessary action for the purpose of such conversion. If the Bank cancels the pledge over the Deposits in whole or in part at its own discretion, the Bank will be entitled to pay relevant Deposits by cash, transfer (to the
designated account or any other account determined by the Bank) and/or any other payment instrument. We agree that the partial cancellation of any pledge will not affect or impair the legitimacy, effectiveness or enforceability of the pledge over
the remaining Deposits or any other pledge in any respect. 

  

	6.	 A certificate of debts signed by any appropriately authorized employee of the Bank shall, in the absence of any
obvious error, be a final proof of the unpaid amount of the guaranteed obligation for us. 

  

	7.	 The pledge under the Document is an additional guarantee based on any other warranties, mortgages, pledges or
other guarantees held by the Bank and free from the restriction or impact of any such other warranties, mortgages. Any pledge under the Document may be enforced regardless of whether any such other warranties, mortgages, pledges or other guarantees
exist or are waived. The Bank has no obligation to execute any other warranties or guarantees (whether they are provided by us or any other person), exercise any rights or require us or any other person to make payment, prior to the execution of the
pledge under the Document. 

  

	8.	 We hereby approve and agree to the following content, and agree that the pledge under the Document shall not be
released, weakened, damaged, reduced or adversely affected by any of the following content, and that it may waive any legal or other right (including but not limited to the right to be notified) which may be separately owned, and which is caused by
or related to any of the following content: 

  

	(a)	 Any modification or change of the relevant transactions, or any renewal, or extension of the relevant
transactions: 

  

	(b)	 Any adjustment, grace, extension, grace period, waiver, consent or compromise that may be granted or given to
us or to any other person who is obligated to make payment to any or all the guaranteed obligations: 

  

	(c)	 Any warranties or guarantees at any time that are in connection with all or any part of the guaranteed
obligations or that are used to warrant or guarantee the payment for all or any part of the guaranteed obligations are discharged, exchanged, subordinated or lost; 

 

	(d)	 the Bank or any other person failing to fulfill the obligation of prudence or reasonable care, when preserving,
protecting, executing, selling or otherwise disposing of all or any part of any guarantee; 

  
 2 

	(e)	 our reorganization, consolidation or merger by or with any other person; 

 

	(f)	 Invalidity or unenforceability of any terms or agreements of the relevant transactions; or

  

	(g)	 in case of no this article, probable exemption from any other act or omission of any part of our obligations
hereunder. 

  

	9.	 Any failure to exercise or delay in exercising any right or remedy hereunder shall not be deemed as a waiver of
such right or remedy, and any separate or partial exercise of any right or remedy shall not prejudice any further exercise or otherwise exercise of such right or remedy or the exercise of any other rights or remedies. Any content hereof shall not
restrict or damage rights obtained by the Bank according to any other agreement or document concluded by and between the Bank and us. 

  

	10.	 Without the prior written consent of the Bank, we will not transfer any of our rights or obligations hereunder.
The Bank may transfer all or any of its rights relating to the pledge hereunder to any person accepting all or any of its rights and rights of claim under the relevant transaction. 

 

	11.	 Where any clause or pledge hereof is or becomes illegal, invalid or unenforceable in any aspect in any judicial
district, the legality, validity and enforceability of other clauses or other pledges hereof in such judicial district and the legality, validity and enforceability of such clause and other clauses or such pledge or other pledges in other judicial
district shall not be affected or impaired thereby. 

  

	12.	 The Document is governed by Chinese laws. We agree about the judicial jurisdiction of the Chinese court where
the main place of the branch of HSBC Bank (China) Company Limited indicated on the first page is located. Any provision of this Article 12 does not restrict the Bank’s right to institute legal proceedings against us concerning any pledge
hereunder to any other court with proper jurisdiction. 

  

	13.	 The Document is signed at the date specified in the appendix hereto. Each pledge hereunder will take effect as
of the date when the Bank receives the Document signed by us and debits relevant Deposits from the designated account. 

  
 3 

 Appendix 

(Applicable to the relevant loan provided or to be provided by the following bank, excluding the discount of bank acceptance bills) 

 

			
	 Relevant
loan

	 Type of relevant loan:
	  	
☐   Post-shipment buyer’s loan used for paying for bills under the documentary L/C (also
known as the import loan relating to the documentary L/C)
  

☐   Post-shipment buyer’s loan (also known as unsecured import loan) related to credit
sales or used to pay bills under documentary collection
  

☐   Before-shipment buyer’s loan (also known as before-shipment procurement loan)

 

Ö   Post-shipment buyer’s loan - trade
facilitation and service loan
  

☐   Overseas payment for others

 
 ☐   Before-shipment
seller’s loan - manufacturer’s loan
  

☐   Before-shipment seller’s loan - packing loan

 
 ☐   Others (please
specify: )
  

	 Application date:

 
	  	 1/23/2019

 

	 Amount:

 
	  	 ¥
10,000,000.00
  

	 Maturity date/term (if any):

 
	  	 
	 Remarks:

 
	  	 (Please supplement
remarks as per relevant application, if necessary)
  

  

			
	 Designated account

 
	  	 715-058202-011
  

	 Amount of Deposits

 
	  	
¥3,000,000.00
  

	 Signing date of the Document

 
	  	 1/23/2019

 

  
 4 

 Signed by: Shanghai Tong Gou Information Science & Technology Co., Ltd. 

 

					
	 Signature of authorized signatory:

 
 /s/ Wang Wei

 
 Special Seal for the Finance of Shanghai Tong Gou
Information Science & Technology Co., Ltd. (Seal)
	  	Signature of authorized signatory:	  	
Corporate seal
  

Shanghai Tong
 Gou Information
Science &
 Technology Co., Ltd.

(Seal)
  

	 Name
  
	  	 Name

	Identity certification type and No.	  	Identity certification type and No.

  
 5EX-10.32

 Exhibit 10.32 

Contract No.: 1809-069382502-01 

 
 

 
 Comprehensive Credit Line Contract 

Contract version number: FB201701 (applicable for companies) 

 The Contract was signed by the following parties on September 25, 2018 in Pudong New Area, Shanghai:

 Applicant: Shanghai Tonggou Information Technology Co., Ltd. 

Domicile (Address): Room 302, 3/F, 1000 Tianyaoqiao Road, Xuhui District, Shanghai
                 
 Legal representative/person in charge: Wang Wei
                                         
                                    

Tel.: ***
                                         
                                         
                                         
                  
 Fax:
                                         
                                         
                                         
                          

Bank: Fubon Bank Co., Ltd., Shanghai Century Avenue Sub-branch (hereinafter referred to as the “Bank”) 

Domicile (Address): 1/F, Block A, 1168 Century Avenue, Pudong New Area, Shanghai
                 
 Legal representative/person in charge: Su Hang
                                         
                                        

Tel.: ***
                                         
                                         
                                         
                      
 Fax:
                                         
                                         
                                         
                              

  

			
	Contract version No.: FB201701 (company)	  	Page 1/40

 Part I General 

Chapter I General Terms 
 Article 1
Contract basis 
 1.1 Whereas, the Applicant applies to the Bank for comprehensive credit line, according to the Law of the People’s Republic of
China on Commercial Banks, the Contract Law of the People’s Republic of China and other laws, regulations and rules, the Parties agree as follows upon negotiations on the basis of equality, voluntariness and integrity. 

Article 2 Amount of the credit line and term 
 2.1 Amount:
the amount of the comprehensive credit line that the Bank agrees to provide to the Applicant hereunder is detailed in Article 25.1. When the credit hereunder involves multiple currencies, the amount of the comprehensive credit line is the total
amount of foreign currencies. 
 2.2 The comprehensive credit line can be applied to multi-currency credits. Where the Applicant applies for credit in more
than one currency at the same time, the exchange rate of currencies other than RMB is determined by the Bank itself according to its internal credit exchange rate policies. When the application is made one by one, the Bank determines whether it
exceeds the comprehensive credit line. 
 2.3 The balance of each credit business within the comprehensive credit line may not exceed the amount stipulated
in Article 25.1, whether it is in RMB or other currencies determined after calculating the exchange rate according to the Bank’s internal credit exchange rate policies. 

2.4 The Applicant must apply for quota use to the Bank within the term of the total amount of the comprehensive credit line and the Bank will refuse such
application made by the Applicant beyond the due date. For details of the term of the total amount of the comprehensive credit line, please refer to Article 25.2. 

The Applicant is fully aware and agrees that: 
 1) If
the Applicant applies for the accounts receivable financing amount, the term of the credit limit will be subject to the letter of consent on pledging accounts receivable claims issued by the Bank, subject to the term of the comprehensive credit line
as stipulated in Article 25.2. 
 2) If the Applicant applies for factoring, the term of the credit limit will be subject to the letter of consent on
factoring issued by the Bank, subject to the term of the comprehensive credit line as stipulated in Article 25.2. 
 Article 3 Business type 

3.1 Business types of the comprehensive credit line include: 
 1)
Fixed assets-backed loan business; 
 2) working capital-backed loan business; 

3) accounts receivable financing business (refers to the Applicant’s application for financing from the Bank with the commercial invoice corresponding to
the accounts receivable based on the pledge of its own or third-party’s accounts receivable); 
 4) invoice payable financing business (refers to the
Applicant’s application for trade financing from the Bank with the corresponding commercial invoice upon purchase); 
 5) invoice receivable financing
business (refers to the Applicant’s application for trade financing from the Bank with the corresponding commercial invoice upon sales); 
 6) factoring
business (including recourse factoring, non-recourse factoring, etc.); 

  

			
	Contract version No.: FB201701 (company)	  	Page 2/40

 7) import and export business (including but not limited to the issue of international letter of credit, the
issue of an international letter of credit by correspondent banks, issue of a back-to-back international letter of credit, the import documentary bills under the letter
of credit, the import documentary bills under the collection, export documentary bills under the letter of credit, export documentary bills under the collection, packaged loans, overseas payment, guaranteed delivery, etc.); 

8) domestic letter of credit business (including but not limited to the issue of domestic letter of credit, the issue of a domestic letter of credit by
correspondent banks, issue of a back-to-back domestic letter of credit, the documentary bills under the domestic letter of credit, the documentary bills under the
domestic letter of credit, payment on an agent basis at home, packaged loans under domestic letter of credit, etc.); 
 9) bill business (including but not
limited to discounting of bank acceptance bills, discounting of commercial acceptance bills, factoring of trade tickets, issue of bank acceptance bills, etc.); 

10) bank guarantee business (including but not limited to opening a letter of guarantee, opening a standby letter of credit, etc.); 

11) financial derivatives business (including but not limited to spot foreign exchange, forward foreign exchange, foreign exchange options, foreign exchange
swaps, interest rate swaps, etc.). 
 3.2 The specific credit line is divided into a revolving credit facility and a
non-revolving credit line according to whether it can be revolved. 
 The revolving credit line refers to the
revolving amount provided by the Bank to the Applicant. As long as the Applicant’s balance of outstanding credit business including the amount of contingent debt) does not exceed the amount of the credit line, the Applicant can revolve the
amount of the credit line. 
 Non-revolving credit line refers to the application made by the Applicant for handling
one or more credit line business to the extent that the accumulative amount of the credit business (including the amount of contingent debt) does not exceed the amount of the credit line. The Applicant must not revolve this type of credit line. 

Article 4 Facility use 
 4.1 The purpose of the specific
credit line under the comprehensive credit line, the amount, the currency, the revolving method, the longest period for use of the single business, and the use of the joint control will be the Bank Credit Notice issued by Fubon Bank to the Applicant
from time to time (see the attachment for the format). 
 The Applicant is fully aware and agrees that: 

1) If the Applicant applies for the accounts receivable financing amount, regardless of how the contract and the Bank Credit Notice agree, the specific
business conditions (including but not limited to the single buyer’s quota, transfer, the trading conditions, etc.) under the quota shall be subject to the Notice on Pledge of the Accounts Receivable Claim issued by the Bank. 

2) If the Applicant applies for factoring limit, regardless of how the contract and the Bank Credit Notice agree, the specific business conditions
(including but not limited to the granted quota of single buyer, risk-taking percentage, percentage of price disbursed, the trading conditions, etc.) under the quota shall be subject to the Notice on Factoring Business issued by the Bank. 

3) If the Applicant applies for the amount of the derivative business, regardless of how the contract and the Bank Credit Notice agree, the specific amount
calculated by the Bank based on the derivative risk is only used as a reference for the Bank’s internal approved transaction amount, and cannot be used to identify the amount of the claims or the guaranteed amount. The maximum amount under the
financial derivative amount is based on the cumulative amount of the transaction amount stated in the transaction confirmation document for the individual transaction between the Applicant and the Bank. 

4.2 Specific business contracts and business applications 

  

			
	Contract version No.: FB201701 (company)	  	Page 3/40

 1) If the Applicant applies for the following credit business, it shall sign the corresponding specific
business contract and related documents with the Bank, including but not limited to the following specific business contracts: 
  

			
	 Business
	  	 Specific business contracts

	Accounts receivable financing business	  	Accounts Receivable Financing Agreement
		
	Factoring business	  	Factoring Agreement
		
	Opening of the Domestic Letters of Credit and the International Letters of Credit by the Correspondent Banks	  	Business Contract on Opening of the Letters of Credit by the Correspondent Banks
		
	Bank Acceptance Bills	  	Acceptance Agreement on Bank Acceptance Bills
		
	Bank Acceptance Bills Discounting	  	Bank Acceptance Bills Discounting Contract
		
	Commercial Acceptance Bills Discounting	  	Commercial Acceptance Bills Discounting Contract
		
	Commercial Note Factoring and Discounting Business	  	Contract on Factoring and Discounting of Commercial Acceptance Bills Drawer
		
	Financial Derivatives Business	  	Financial Transaction Master Agreement, Derivative Product Risk Disclosure, Derivatives Trader Authorization Letter

 2) The Applicant shall promptly sign the reply letter to the Bank Credit Notice issued by from the Bank to the Applicant from
time to time and apply to the Bank for the specific credit line as required by the Bank Credit Notice and the credit policy of the Bank. 
 3) To use the
specific credit line, the Applicant need to apply in advance by submitting the relevant business application to the Bank and it can use the same after it is approved by the Bank. 

4.3 The above specific business contracts, agreements and related business applications, Bank Credit Notices and corresponding transaction vouchers or
confirmation documents issued by Bank are collectively referred to as “specific contracts”. Each specific contract is an integral part hereof and bears the same legal effect as the Contract. 

4.4 Each credit provided by the Bank hereunder is independent. The specific contract submitted by the Applicant for the credit shall constitute the final
agreement and independent contract between the Applicant and the Bank on the terms and conditions of the credit together with the terms hereof. However, if the business application is inconsistent with other transaction vouchers or confirmation
documents issued by the Bank, the Parties agree that other transaction vouchers or confirmation documents issued by the Bank shall prevail. 
 4.5
Conditions precedent: Unless otherwise agreed in the Bank Credit Notice, each use of the credit line by the Applicant must meet the conditions precedent to the credit line use below and be to the satisfaction of the Bank. 

1) The Contract and the guarantee document have been legally valid and the Applicant has signed the Bank Credit Notice and delivered it to the
Bank. 
 2) The Applicant has obtained sufficient authorization and approval from the board of directors or any other competent authority
required to sign and perform the Contract, and reserves the corporate documents, documents, seals, relevant personnel list and signature samples related to the signing of the Contract and duly fills in the relevant documents. 

3) The Applicant has opened an account with the business outlets of Fubon Bank as required by the Bank to complete the business hereunder. 

a) If the Applicant applies for a fixed asset loan quota, the Applicant shall open or designate a fixed asset loan account for the issuance and
payment of the loan as required by the Bank; For a project financing loan, it shall re-open or re-designate a project income account as required by the Bank. All project
income will be included into the account, and the funds in the account will be paid according to the agreed conditions and methods. 

  

			
	Contract version No.: FB201701 (company)	  	Page 4/40

 b) To apply for working capital loans, the Applicant shall as required by the Bank, 1. open
or designate loan special accounts for the issuance and use of loans; 2. if the RMB general settlement account is used, in principle, the entrusted payment method will be applied; and 3. specify a special fund withdrawal account. 

4) The Applicant has submitted the relevant business application and the supporting documents relevant to the quota use as required by the
Bank. 
 5) The relevant security right or similar priority has been legally established and effective (if any). 

6) The Applicant or the Guarantor has completed the insurance procedures (if any) as required by the Bank. The Applicant shall insure the
relevant collateral according to the amount, time limit and insurance type required by the Bank and the insurance policy shall indicate the Bank as the first beneficiary. The insurance period may not be shorter than that as required by the Bank. If
the insurance period insured by the Applicant is shorter than that as required by the Bank, when the Applicant’s single credit expiration date exceeds or may exceed the insurance period, the Applicant shall make up the insurance period as
required by the Bank; otherwise, the Bank will have the right to decide whether to grant the credit to the Applicant. 
 7) The Applicant has
paid in full the fees (if any) as agreed in the Contract. 
 8) The Applicant has satisfied all conditions as agreed in the Contract. 

9) The Applicant has completed the legal procedures (if any) such as government license, approval, registration, filing, and delivery related
to the credit granted under the Contract in accordance with the relevant laws and regulations. 
 10) Comply with the Bank’s and
regulator’s requirements for payment control (if any), including but not limited to Article 4.8. 
 11) Other pre-lending conditions as agreed in the Bank Credit Notice. 
 12 The Applicant has obtained the government
license, approval, registration, filing, etc. required for using the loan hereunder for the fixed asset investment, including but not limited to planning approval, project review, land use approval, environmental impact assessment, etc., if any.

 13) Other conditions put forward by the Bank or other documents, projects or evidence required by the Bank. 

The establishment of the above conditions does not mean that the Bank is obliged to provide credit when the above conditions are met. However, if the above
conditions are not met, the Bank has the right to refuse the Applicant’s application for the credit line. 
 4.6 Before or during the quota use, if
the national macro-control policy changes, or the banking regulator requests the Bank to control the credit scale or the credit investment destination, or other reasons not attributable to the Bank make inability for the Bank to let the Applicant
use the quota, the Bank has the right to suspend or terminate the use of the amount, recover the principal and interest of all the loans already issued, and terminate the Contract to which, the Applicant has no objection and it agrees to exempt the
Bank’s liability. 
 4.7 The signing of the Contract between the Applicant and the Bank does not constitute the Bank’s commitment on
granting credit line to the Applicant. For the specific credit business under the Contract, the Applicant shall submit a written application to the Bank in advance (or other forms of application approved by the Bank), and the Bank has the right to
follow the internal and external actual conditions (including but not limited to external regulatory requirements, the satisfaction of the credit granting conditions of the Applicant, internal credit policies of the Bank, approval opinions,
liquidity of funds, etc.) to review and judge whether or not to grant credit to the Applicant, and has the right to review the use of credit by the Applicant per year or from time to time. If the Bank believes that it is necessary to adjust or is
not suitable to continue to grant the credit line to the Applicant, the Bank has the right to adjust the comprehensive credit line and its specific period, and/or cancel all unused credits without prior notice to the Applicant. 

  

			
	Contract version No.: FB201701 (company)	  	Page 5/40

 4.8 The Applicant shall comply with the following payment control agreement as required by the Bank: 

1) The payment review documents submitted by the Applicant to the Bank are as follows: 

 

			
	 Terms of payment
	  	 Document

	Entrusted payment	  	The applicant submits to the Bank, 1) payment settlement vouchers; 2) corresponding transaction data for the payment; 3) proof of the availability and use of the principal and/or own funds (if required); 4) proof of progress of the
project (if required); 5) other documents that the Bank may require.
		
	Self payment	  	The Applicant submits to the Bank, 1) payment settlement vouchers; 2) corresponding transaction data for the payment; 3) proof of the availability and use of the principal and/or own funds (if required); 4) proof of progress of the
project (if required); 5) list of planned/actual payment; and 6) other documents that the Bank may require.

 2) Entrusted payment means the Bank pays the loan money, on basis of the Applicant’ drawdown request and
payment instruction, to the Applicant’s counterparty that satisfies the purposes of loan specified in contracts. Self payment means the Bank pays the loan money, on basis of the Applicant’ drawdown request and payment instruction, to the
Applicant’s account and the Applicant makes payment to the counterparty that satisfies the purposes of loan specified in contracts. 

3) Refer to the Bank Credit Notice for the terms of payment between the Applicant and the Bank for the specific credit line. When the
Applicant makes payment to others by using the loan provided by the Bank, the Bank has the right to review on a case-by-case basis and decide whether to pay externally
and what terms of payment will be adopted. If the terms of payment in the business application accepted by the Bank is inconsistent with the Bank Credit Notice, the business application accepted by the Bank shall prevail. 

4) In the event that the bank of deposit of the counterparty of the Applicant is subject to any refund, making the Bank unable to pay the
financing funds to its counterparty in time according to the Applicant’s payment entrustment, the Bank will not bear any responsibility, and the repayment obligations of the Applicant already incurred hereunder will not be affected. For the
amount returned by the Applicant’s Counterparty’s bank of deposit, the Applicant will authorize the Bank to freeze it. 

5) Notwithstanding the above, the Bank has the right to adjust the terms of payment of any credit in accordance with laws, regulations or
regulatory requirements under any of the following cases, and has the right to regard the following event as default event: 
 a) The
Applicant violates the Contract and circumvents the Bank’s entrusted payment requirements by breaking up the whole into parts; 

b) the credit status of the Applicant or the profitability of the main business decreases; 

c) the use of financing funds is abnormal; 

d) The Applicant has not provided the records and information on the use of financing funds in a timely manner as required by the Bank;

 e) the Applicant pays the financing funds in violation hereof; 

f) repeat financing. 
 In order to
avoid ambiguity, this ruling does not affect the Bank’s rights under other terms hereof. 
 Article 5 Interest rate and interest 

5.1 Calculation and adjustment of interest rates 
 The
interest rate and the methods to adjust the interest rate for the credit business under the Contract shall be subject to each business application accepted by the Bank. 

5.1.1 Calculation and adjustment of RMB credit interest rate are as follows: 

1) Floating interest rate: The Applicant and the Bank agree that the Renminbi annual interest rate is the Renminbi loan benchmark interest
rate set by the People’s Bank of China, plus or less a certain percentage as agreed. The future floating ratio is adjusted according to the Bank’s capital status. The credit interest rate shall be subject to the approval of the relevant
business application accepted by the Bank. If the People’s Bank of China adjusts the benchmark interest rate, the credit interest rate will be adjusted accordingly from the date of interest rate adjustment, without further notice to the
Applicant. Unless the Applicant and the Bank otherwise agree, for the short-term ( within one year (included) withdrawal, the interest rate adjustment date is the first day of the month next to the effective date of the interest rate adjustment
announced by the People’s Bank of China; for the medium and long-term (more than one year (excluded)) withdrawal, the interest rate adjustment date is January 1 of the following year when the interest rate adjustment announced by the
People’s Bank of China takes effective. 

  

			
	Contract version No.: FB201701 (company)	  	Page 6/40

 2) Fixed interest rate: the Applicant and the Bank agree that the Renminbi annual
interest rate shall be subject to the credit business application accepted by the Bank. Each credit rate is not affected by the adjustment of the benchmark interest rate that may occur during the single credit period. 

3) Relative interest rate: The Applicant and the Bank agree that the Renminbi annual interest rate is the Renminbi loan benchmark interest
rate set by the People’s Bank of China, plus or less a certain percentage as agreed. The interest rate for the credit business under the Contract shall be subject to each business application accepted by the Bank. The interest rate on the date
of issuance of the credit is “agreed interest rate”, and the adjustment of interest rate within the period of use of each credit depends on the Bank’s capital status, but the minimum is not lower than the agreed interest rate at the
time of use; If the People’s Bank of China adjusts the benchmark interest rate, the credit interest rate will be adjusted accordingly from the date of interest rate adjustment, without further notice to the Applicant. If the People’s Bank
of China adjusts the benchmark interest rate, making the interest rate lower than the agreed interest rate, and the credit interest rate is not adjusted with the adjustment of the benchmark interest rate of the People’s Bank of China. Unless
the Applicant and the Bank otherwise agree, for the short-term (within one year (included)) withdrawal, the interest rate adjustment date is the first day of the month next to the effective date of the interest rate adjustment announced by the
People’s Bank of China; for the medium and long-term withdrawal, the interest rate adjustment date is January 1 of the following year when the interest rate adjustment announced by the People’s Bank of China takes effective. 

5.1.2 Calculation and adjustment of foreign currency credit interest rate are as follows: the Applicant and the Bank agree that the interest rate for the
credit business under the Contract shall be subject to each business application accepted by the Bank and subject to adjustment depending on the Bank’s fund position. 

5.1.3 For the interest rate adjustments made in accordance with Articles 5.1 and 26.3, the Parties do not need to sign an agreement or other written
documents separately, and neither party is required to notify the other party or obtain the consent thereof, nor is it necessary to notify the Guarantor or obtain its consent. 

5.2 Interest collection 
 5.2.1 Credit interest payment methods
under the Contract are as follows and subject to the Bank Credit Notice specifically: 
  

			
	Installments on a monthly basis	  	The Applicant shall pay the current interest of each credit on the 21st day of each calendar day according to the actual number of days, and pay the Bank the interest that has occurred but not yet paid for each credit on the due
date thereof.
		
	Installments on a quarterly basis	  	The Applicant shall pay the current interest of each credit on the 21st day of the last month of each calendar quarter according to the actual number of days, and pay the Bank the interest that has occurred but not yet paid for each
credit on the due date thereof.
		
	Payment upon expiration	  	The Applicant shall pay the interest of each credit on the due date thereof to the Bank.
		
	Based on specific contract	  	Calculated according to the interest accrual method of each specific contract.
		
	Direct deduction when use	  	The Bank has the right to deduct the interest payable by the Applicant directly from the credit applied.

  

			
	Contract version No.: FB201701 (company)	  	Page 7/40

 5.3 Penalty interest rate 

The penalty interest rate will apply from the date of repatriation, advances or misappropriation. The RMB portion shall be calculated at the interest rate
agreed upon for the credit, plus 50% and the foreign currency portion, the interest rate agreed upon for the credit, plus 3%. If the Applicant does not agree to the interest rate with the Bank when using the credit, the RMB portion will be
calculated according to the penalty interest rate of one thousandth of the daily amount of the actual advance, and the foreign currency portion, 0.026% unless otherwise agreed in the specific contract. The Bank reserves the right to compound
interest on interest that has not been repaid or paid. If the Bank or the People’s Bank of China stipulates to adjust the above interest rate, the Bank reserves the right to adjust the above interest rate. 

Article 6 Expenses 
 6.1 The Applicant shall bear the
relevant expenses under the Contract in accordance with the relevant provisions on the fees and the provisions of the Bank. Other bank fees and other charges uncovered will be implemented by reference to the Bank’s standard rate. The Applicant
confirms that the Bank’s charging standards are clearly known. 
 The Applicant is fully aware and agrees that: 

1) If the Applicant applies for the accounts receivable financing amount, no matter how the Bank Credit Notice agrees, the invoicing fees therefor will be
subject to the letter of consent on pledging accounts receivable claims issued by the Bank. 
 2) If the Applicant applies for factoring amount, no
matter how the Bank Credit Notice agrees on the fees sharing, the invoicing management fees thereunder will be subject to the letter of consent on factoring issued by the Bank. 

6.2 The agreement on fees in the Bank Credit Notice is only for reference. The specific fee is based on the business application and the standard rate
published by the Bank. If the agreement in the business application is inconsistent with the standard fee rate published by the Bank, the business application accepted by the Bank shall prevail. 

6.3 Except for the taxes and fees to be borne by the Bank as stipulated by laws and regulations, any other taxes and expenses under the Contract shall be
borne by the Applicant. 
 6.4 The Applicant agrees and authorizes the Bank to deduct the relevant fees directly from any account opened by the
Applicant in Fubon Bank and the Bank retains the right of recourse against the Applicant for the insufficiency. 
 Article 7 Guarantee 

7.1 The forms of guarantee acceptable to the Bank under the Contract include, but are not limited to, pledges, mortgages, guarantees and other forms of
guarantees recognized by the Bank. 
 7.2 Guarantee corresponding to the specific credit line hereunder is set forth in the Bank Credit Notice. 

7.3 The Guarantor provides guarantee for the credit line of the Applicant under the Contract, and signs the corresponding guarantee documents and other
documents required by the Bank. The guarantee extends to the credit principal, interest (including penalty interest, compound interest) under the Contract, and the liquidated damages and compensation payable by the Applicant to the Bank and all
fees, expenses and losses incurred by the Bank to realize its claims. 
 7.4 Before the debts hereunder are fully settled, if the Bank believes that the
collateral needs to be insured or the insurance procedures shall be maintained, the Applicant shall actively urge the Guarantor to pay the insurance premium in time and take all measures to maintain the renewal and validity of the insurance at any
time and provide the payment certificate of the insurance premium to the Bank. Where the Guarantor fails to perform the above procedures in a timely manner, the Bank has the right to take such measures as it deems necessary to maintain the renewal
and validity of the insurance and confirm the rights and interests of the Bank with all costs incurred being borne by the Guarantor. If the Guarantor refuses to or cannot pay the fees, the Applicant agrees that the Bank may immediately deduct the
aforesaid amount from any account opened by the Applicant in any business outlet of Fubon Bank and retain the right of recourse with respect to any insufficiency. 

  

			
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 Article 8 Repayment 

8.1 Repayment method: there are four forms of repayment in the Contract: 
  

			
	Payment of interest on schedule and repayment of principal on maturity	  	The principal is repaid in one lump sum on the expiration date of the credit on an individual basis. Please refer to the Bank Credit Notice for the interest payment method.
		
		  	If the provisions in the business application accepted by the Bank are inconsistent with the Bank Credit Notice, the business application accepted by the Bank shall prevail.
		
	Matching the principal repayment	  	The Applicant’s loan principal will be evenly repaid in installments. The principal repayment date and the interest payment date fall on 21st day in each month, on which, the Applicant pays the principal and interest of the
first loan. The Applicant pays the remaining principal and interest on the maturity date of the loan.
		
	Average capital plus interest	  	The Applicant’s loan principal and interest will be evenly repaid in installments. The principal repayment date and the interest payment date fall on 21st day in each month, on which, the Applicant pays the principal and
interest of the first loan. The Applicant pays the remaining principal and interest on the maturity date of the loan.
		
	Repayment of principal and interest according to the repayment plan	  	Please refer to the Bank Credit Notice for details of the repayment schedule. If the provisions in the business application accepted by the Bank are inconsistent with the Bank Credit Notice, the business application accepted by the
Bank shall prevail.

 8.2 The specific repayment amount and date will be subject to the confirmation documents issued by the Bank to the Applicant.
The Applicant shall deposit the principal, interest and other amounts payable in the current period in the repayment account contained in the business application one working day before the repayment date. The Bank has the right to actively
deduct the amount on the repayment date, or ask the Applicant to cooperate with the relevant transfer procedures. 
 8.3 At the expiration of each
credit, the Applicant shall pay the debt on time; otherwise it will be treated as a credit overdue or advance payment. 
 8.4 The exchange rates among
various currencies will be affected by market fluctuations and the laws of the currency issue countries. When the repayment is made in a currency different from the credit currency, there may be fluctuations in the repayment amount at the foreign
exchange purchases in the future. The risk will be borne by the Applicant and the Bank will not be liable for the losses incurred by the Applicant. 
 8.5
If the currency in the repayment account is inconsistent with the actual currency, the deduction will be made on the basis of the exchange rate applicable to the Bank on the deduction date, and the relevant risks and losses will be borne by the
Applicant. 
 8.6 Unless otherwise agreed by the parties, the Applicant shall pay off the Bank’s claims in the following order: 1. the cost of
realizing the claims and security rights; 2. damages and compensation; 3. liquidated damages; 4. compound interest and penalty interest; 5. expenses; 6. interest; 7. principal; 8. other payables, but the Bank has the right to change the
above-mentioned settlement order. 
 8.7 Special agreements on repayment for specific credit line are set forth in the Bank Credit Notice. If the provisions
in the business application accepted by the Bank are inconsistent with the Bank Credit Notice, the business application accepted by the Bank shall prevail. 

8.8 Advance repayment: If the Applicant needs to repay in advance, it must notify the Bank in writing 15 working days in advance, and obtain the Bank’s
consent before repayment. Liquidated damages for repayment in advance are stipulated by the Bank Credit Notice. The Applicant shall repay the debt in accordance with Article 8.6, and the interest already charged according to the original agreement
will not be refunded. If the repayment is made in advance and in part, the principal and interest will be re-determined based on the remaining principal from the date of partial repayment. 

  

			
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 8.9 Repayment reservation: the Applicant applying for repayment must access to online banking services. With
the consent of the Bank, the Applicant shall submit an application for repayment at least seven natural days in advance. The Applicant will remit the repayment principal and interest into the repayment account on three natural days before the
scheduled repayment date. Where an Applicant applies for repayment reservation, such applications are irrevocable once being made. The Bank has the right to automatically deduct the repayment principal and interest from the repayment account on the
reserved repayment date according to the Applicant’s appointment repayment request. If there is not enough funds in the repayment account, the repayment application fails. If the repayment is made in advance and in part, the principal and
interest will be re-determined based on the remaining principal from the date of partial repayment. 
 Article 9
The Applicant’s guarantee and commitment 
 The Applicant guarantees and undertakes that: 

9.1 The Applicant has been legally established as a legal person in accordance with or validly existing under the relevant laws and it has the right to sign
the Contract and fulfill its obligations under the Contract according to the laws of its place of establishment. 
 9.2 The Applicant signs the Contract
without violating any laws, regulations and rules on environmental protection, energy conservation and emission reduction, pollution reduction, land and resources management, safe production, etc., and has obtained all the environmental permits
required by it; and promises to strictly comply with such laws, regulations and rules, and comply with environmental permit conditions after signing the Contract. 

9.3 The Applicant has obtained the legal and effective authorization and approval of the board of directors or any other authorities required to sign and
perform the Contract in accordance with its articles of association or other internal management documents. The signing of the Contract is the true meaning of the Applicant and will not result in a breach of (i) the agreement or commitment
signed by it with any third party; or (ii) any law or regulation to which it applies; or (iii) its articles of association. 
 9.4 The Applicant
does not have any procedures, such as litigation, arbitration, enforcement, appeal, reconsideration, and other events or circumstances that may have a material adverse effect on the Applicant or the Applicant’s main property or on the
performance of the Contract. The Applicant’s important assets do not involve any enforcement, seizure, attachment, freezing, lien, or regulatory measures, and there are no circumstances that may lead to such measures. If so, the Applicant shall
immediately notify the Bank. 
 9.5 The Applicant has obtained or will obtain all relevant approvals, permits, filings or registrations required for the
signing and performance of the Contract, including but not limited to the approval of the State Administration of Foreign Exchange and its branches. 
 9.6
The Applicant has obtained the government license, approval, registration, filing, etc. required for using the loan hereunder for the fixed asset investment, including but not limited to planning approval, project review, land use approval,
environmental impact assessment, etc., if any. 
 9.7 Loan projects and their loan matters are in compliance with laws and regulations. Working capital
loans will not be used for investment in fixed assets, equity, etc., and will not be used in areas and uses prohibited by the state for production and operation. The Applicant promises not to misappropriate the working capital loan and will accept
the inspection and supervision in accordance with the Contract. 
 9.8 The Applicant shall provide financial statements, all account opening accounts and
deposit and loan balances and other relevant information required by the Bank within the time limit required by the Bank, ensure that documents, statements, materials and information (including the Guarantor’s documents, statements, materials
and information) provided during the signing and performance of the Contract are true, complete, objective, accurate, legal and valid, and do not contain any false records, misleading statements or major omissions. The financial statements are
prepared in strict accordance with PRC GAAP. The Applicant further undertakes to agree to provide the financial information or other materials with respect to the Applicant and its subsidiaries, related parties and the Guarantor audited by the
auditors from time to time as required by the Bank, and immediately notify the Bank when the business characteristics and scope of the Applicant and its subsidiaries and related parties and the Guarantor change. The Applicant ensures that it
continues to meet the financial indexes of the Bank. 
 For the purpose hereof, with respect to the Applicant, related parties are defined as follows: if
one party controls, jointly controls or exerts significant influence on the other party, and two or more parties are under the control, joint control or significant influence of the other party. For the purpose hereof, control means that one party
has the right to decide the financial and business policies of the other party, and can benefit from the other party’s business activities. Joint control refers to the common control over an economic activity in accordance with the contract and
it exists only when the important financial and operational decisions related to the economic activity require the unanimous consent of the investors sharing control. Significant influence refers to the power to participate in decision-making on the
financial and operating policies of an enterprise, but it cannot control or jointly control the formulation of these policies with other parties. 

  

			
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 9.9 The Applicant will strictly abide by the terms of the Contract and fulfill corresponding obligations and
commitments. 
 9.10 Any guarantee provided by the Applicant or the Guarantor will be fully effective upon completion of the improvement procedures and
there is no dispute of ownership and no guarantee may be cancelled without the consent of the Bank. 
 9.11 The background based on which the Applicant
applies to the Bank for handling business is real and legal and it will not be used for money laundering and other illegal purposes. 
 9.12 The Applicant
does not conceal any event that may affect the financial status and performance ability of the Applicant and the Guarantor. 
 9.13 The Applicant and any of
its shareholders and related parties did not involve any liquidation, bankruptcy, reorganization, merger, division, reorganization, dissolution, capital reduction or similar legal proceedings, nor did it result in any circumstances that may lead to
such legal proceedings. 
 9.14 If the Applicant has or will sign the counter guarantee agreement or similar agreements with the Guarantor hereto with
respect to the guarantee obligations, the agreement will not damage any rights of the Bank under the Contract. 
 9.15 In addition to the above warranties
and commitments, the Applicant further warrants and promises as follows: 
 1) If the Applicant applies for the fixed assets loan amount, the Applicant
guarantees and promises that: a. the capital in the same proportion as the loan is fully available; b. the actual progress of the loan matches the invested amount; c. the Applicant will not evade the entrusted payment method by breaking up the whole
into parts; d. under self payment, the Applicant submits the “planned/actual payment list” to the Bank at least quarterly after the loan is issued; e. in the event of project financing loans, in principle, the Applicant’s own funds
must be used in the same proportion as the loan or the Applicant’s own funds are used up before using the loan. 
 2) If the Applicant applies for the
working capital loan amount, the Applicant guarantees and promises that: a. the Applicant will not evade the entrusted payment method by breaking up the whole into parts; b. under self payment, the Applicant submits the “planned/actual payment
list” to the Bank at least quarterly after the loan is issued. 
 3) If the Applicant applies for the opening of import letter of credit, domestic
letter of credit, guaranteed delivery, import bill, export bill, opening letter of guarantee/standby letter of credit, overseas payment and other credit extension business, the Applicant’s guarantee and commitment must also comply with the
relevant provisions of the special terms of the credit business in Chapter II. 
 4) If the Guarantor is an overseas institution or individual (the
“overseas guarantor”), the Applicant guarantees and promises that: a. it always meets the qualifications for foreign-invested enterprises to handle the foreign-invested domestic loan business, and the total foreign debts do not exceed its
bets during the entire period from the date of signing the Contract to the date when the Applicant repays principal and interest. The Bank’s review of the Applicant’s conditions and bet difference does not exempt the Applicant from the
above warranty obligations; b. to increase new external debt (including but not limited to short-term foreign debt, medium- and long-term foreign debt or new foreign-invested domestic loan business), the Applicant shall obtain the previous consent
of the Bank in writing; c. if the Applicant is subject to equity transfer, change of total investment or registered capital, the change of shareholders or the shareholding structure or the change of business scope, etc., it shall obtain the written
consent of the Bank in advance, and may not affect its obligations and responsibilities under the foreign-invested domestic loan business, nor will it cause it to no longer have the qualifications for the foreign-invested domestic loan business or
make the Applicant’s guarantee performance amount exceeds the allowable registration amount when credit provided by the Bank expires; d. after the overseas guarantor fulfills the guarantee obligations, the Applicant shall promptly handle the
foreign debt registration in accordance with the relevant regulations and the requirements of the Bank and within the time limit required thereby. If the foreign exchange administration imposes punishment as the outstanding principal balance of the
external debt exceeds the sum of the previous year’s unaudited net assets and the external debts, it shall promptly accept punishment; The Applicant shall promptly perform the repayment obligation to the overseas guarantor, and all the
guarantees with respect to the Applicant and the overseas guarantor shall be handled by the parties themselves and may not be involved with the Bank; e. the outstanding principal of the external liabilities formed by the foreign-invested domestic
loan business may not exceed the sum of the unaudited net assets of the previous year and its own external debts; f. provide information as required by the Bank (including but not limited to the unaudited net assets of the Applicant in the previous
year, the current amount of foreign debts available, the amount of foreign-invested domestic loans with domestic financial institutions, debt defaults, and foreign debt registration and settlement, the outstanding principal of external liabilities
arising from foreign-invested domestic loans) and guarantee the truthfulness, completeness, validity and follow-up update of the information and data provided; g. if the Applicant breaches in terms of
guarantee under any foreign-invested domestic loan business after the Contract is signed, the Applicant shall promptly notify the Bank and further promises that the Applicant may not make application hereunder unless the Applicant has paid off all
external liabilities under the foreign-invested domestic loans in which the guarantee has been performed and it has been approved by the State Administration of Foreign Exchange or its authorized branches. 

  

			
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 5) The Applicant agrees to handle the matters uncovered in the Contract and the related documents according
to laws and regulations, the Bank’s related provisions and business practice. 
 Article 10 The Applicant’s rights and obligations 

10.1 The Applicant shall use the loan and/or other credits in accordance with the terms and/or promises hereunder. 

10.2 The Applicant shall accept the Bank’s loan payment management, post-loan management and related inspections and supervision, and provide sufficient
assistance and cooperation. 
 10.3 If the Applicant or the Guarantor is subject to any changes in business license, articles of association, business
scope, registered capital, or legal representative, the Applicant shall notify the Bank in writing and provide the latest relevant materials within ten natural days from the date of the change. 

10.4 In the event of any circumstances that may affect the Applicant’s or the Guarantor’s financial position and ability to perform, including but
not limited to mergers, divisions, capital reductions, equity transfers, foreign investments, substantial increases in debt financing, transfer of material assets and claims, and others that may adversely affect the Applicant’s solvency, the
Bank’s consent must be obtained in advance. 
 10.5 If the Applicant knows that the Guarantor has or may have the following circumstances, the
Applicant shall immediately notify the Bank and actively cooperate with the Bank to implement the safeguard measures for the safe repayment of the principal and interest of the loan and other credits and all related expenses under the Contract: 

1) it incurs difficulty in operations, significant financial loss, loss of assets or other financial crisis; 

2) it is subject to business stoppage, liquidation, business stoppage for internal rectification, or its business license is revoked or canceled or
application for or being filed for bankruptcy, dissolution and other circumstances; 
 3) its controlling shareholders and other affiliates suffer from
major financial crisis in terms of operation or finance, affecting its normal functioning; 
 4) there are significant related party transactions between it
and its controlling shareholders and other affiliates, affecting its normal operation; 
 5) in the event of any litigation, arbitration or criminal or
administrative penalty that has a material adverse effect on its operation or property status; 
 6) it carries out any changes in business methods such as
joint venture, cooperation, contracting management, recombination, and restructuring; 
 7) its property or collateral is seized, attached or supervised, or
a new guarantee is created on the collateral; 
 8) its shareholders, directors and current senior officers are suspected of major cases or economic
disputes; 

  

			
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 9) the Applicant breaches other contracts; 

10) it is divorce, disappears or dead when the Guarantor is a natural person; 

11) other circumstances that are materially unfavorable to its operations, financial condition or solvency. 

10.6 The Applicant shall repay the principal and interest and related expenses in the same currency as the loan and other credits in full and on time
according to the Contract; or deposit the aforementioned funds into the designated account in advance as required by the Bank, and may not withdraw, transfer, pledge or otherwise dispose or create any claims on the funds. 

10.7 Any payment made or amount payable by the Applicant to the Bank shall not be deducted from taxes and other fees of any nature. If tax and other expenses
are deducted in accordance with laws and regulations, the Applicant shall make up. 
 10.8 The Applicant agrees to make compensation in full for any
disputes, controversies, claims, expenses, losses, expenses and other payments incurred by the Bank in connection with the provision of credit or any services. 

10.9 The Applicant may not omit to make management and recover the claims fall due or disposes of claims or properties for free or other improper ways. 

10.10 If the Applicant belongs to a group client defined in Article 12.2, it shall timely report the related party transactions involving more than 10% of the
net profit to the Bank, including but not limited to the related party relationship of parties, items, nature, trading amount and corresponding proportion as well as pricing policies (including the transactions without amount or with only a symbolic
amount). 
 10.11 The Applicant may not transfer, assign, update or dispose of any of its rights and/or obligations under the Contract or any interest in
connection with such rights and obligations without the written consent of the Bank. 
 10.12 If the Bank needs to make external payment before the
following business expires, including providing the Applicant with bank guarantees, issuing international letters of credit and domestic letters of credit, entrusting correspondent banks to open international letters of credit and domestic letters
of credit, opening bank acceptance bills, guaranteed delivery, and opening back-to-back international letter of credit and domestic letter of credit, overseas payment,
domestic payment, etc. or due to the beneficiary’s call to the Bank, the Applicant shall deposit sufficient amount or deposit for the Bank to make external payment, and the Bank also has the right to debit the Applicant’s foreign currency
or RMB account in the Bank as the backup payment; and the Applicant agrees to create pledge guarantee on the margin account for guaranteeing its debts due to the Bank and immediately issues a written pledge confirmation to the Bank after depositing
each pledge. Pledge guarantee extends to the debt principal, interest and the expenses incurred by the Bank to realize its claims under the business. The account is only for the Applicant to deposit its cash deposit. Once the money is included into
the deposit account and pledge to the Bank by the Applicant in writing, it is deemed as a specialized deposit and constitutes the pledge property. The pledge will take effect from the date of being included into the deposit account and be deemed to
be delivered to the Bank in an indirect possession and shall be held and controlled by the Bank on behalf of the Applicant. The Applicant may not use the funds in the deposit account without the consent of the Bank. If the provision or deposit is
insufficient for the Bank to make external payment, the Applicant is obliged to pay off the above payment. 
 10.13 other rights and obligations as agreed
hereunder. 
 Article 11 The Bank’s rights and obligations 

11.1 The Bank has the right to review and determine whether to grant a single credit to the Applicant, and to review the use of the credit by the Applicant
each year or from time to time. If the Bank believes that it is necessary to adjust or is not suitable to continue to grant the credit line to the Applicant, the Bank has the right to adjust the comprehensive credit line and its specific period,
and/or cancel unused credits in full or in part or declare that all or part of the Applicant’s credit under the Contract expire immediately without prior notice to the Applicant. 

11.2 The Bank has the right to request the Applicant to provide information related to the credit line, and to investigate the legality, authenticity,
completeness and validity of the information and documents provided by the Applicant. The Bank also has the right to investigate the Applicant’s credit standing. 

  

			
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 11.3 The Applicant agrees that the Bank has the right to disclose any of its information to: 1) any
intended transferee of the Contract or the party entitled to the rights hereunder; 2) the Bank’s offices, branches and other necessary entities; 3) any government, financial, taxation, regulatory and other administrative agencies or judicial
organs; 4) those who provide external professional services to the Bank, including but not limited to lawyers, auditors, etc. 
 11.4 The Bank has the
right to get to know the Applicant’s production, operation and financial activities. 
 11.5 The Bank is entitled to check the use of the loan and/or
other credit lines, the Guarantor’s credit status or the collateral status. 
 11.6 If the Guarantor provides mortgage or pledge, the Bank has the
right to request an assessment agency approved by it to evaluate the value of the pledge. If the value of the collateral (pledge) has dropped significantly and it is no longer sufficient as a guarantee for contractual debts, the Bank has the right
to require the Applicant to return part of the credit or provide other guarantees approved by the Bank. 
 11.7 The Bank has the right to adjust the
credit line according to the exchange rate change, require the Applicant to provide other guarantees or immediately repay the excess. 
 11.8 The Bank
is entitled to require the Applicant to repay in full and on time the principal and interest of the loan and other loans extended under the Contract. The Bank is entitled to make deductions from any account opened by the Applicant in any business
outlet of Fubon Bank, to repay the debts owed by the Applicant in the Contract. 
 11.9 For working capital loans, the Applicant agrees that the Bank has
the right to recover the loan in advance according to the withdrawal of the Applicant’s funds. 
 11.10 If the Bank provides the Applicant with bank
guarantees, issue bank acceptance bills, guaranteed delivery, issue international letters of credit and domestic letters of credit, entrust correspondent banks to open international letters of credit and domestic letters of credit, open back-to-back international letter of credit and domestic letter of credit and other credit lines, the Bank has the right to pay the amount claimed immediately upon receipt of
the demand/claim/payment request, without asking or obtaining the Applicant’s additional consent and the Bank is not obliged to investigate and verify the facts involved in the demand/claim/payment request. 

11.11 The Bank is entitled to transfer the rights and obligations under the Contract and the relevant guarantee documents at any time according to the law and
without the consent of the Applicant, and take such means as it deems appropriate, including but not limited to fax, post, personal service, announcement in the public media, etc., to notify the Applicant of the transfer. The Applicant shall
continue assuming liability to the Bank and its rights transferee and beneficiary in accordance with the Contract. Notwithstanding such assignments, the Contract and related documents will continue to be valid for the Applicant and the Applicant
agrees to continue to be bound by such documents. The Bank has the right to provide a copy of the Contract and any information hereunder to any entity/person who intends or has entered into any type of transfer intent with the Bank. 

11.12 The Bank is entitled to request the Applicant to explain significant and abnormal funds inflows and outflows and supervise the account involved. 

11.13 other rights and obligations as agreed hereunder. 

Article 12 Event of default 
 12.1 Any of the following
matters is considered an event of default under the Contract: 
 1) The Applicant fails to repay in full and on time the principal and interest of the
loan and other expenses under the Contract. 
 2) The Applicant has not used the loan or other credit for the agreed purposes and according to the agreed
terms of payment. 
 3) The Applicant has not obtained the written consent of the Bank to transfer the debt. 

4) The materials provided by the Applicant to the Bank (including but not limited to financial statements, vouchers, basic contracts, etc.) or factual
statement are false or incomplete or contrary to the facts or conceal any important truth. 
 5) The Applicant refuses to, hinders from or fails to
cooperate with the Bank’s supervision and check of the credit use, the Guarantor’s credit status or the collateral status. 
 6) The Applicant and
its related parties breach the Contract or any other contract or agreement signed with any business outlet of Fubon Bank or any other contract or agreement signed with a third party (including but not limited to other financial institutions). 

  

			
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 7) If the Applicant applies for the fixed assets loan amount, the Bank will determine that the
Applicant’s net assets are negative or loss for two consecutive years based on the Applicant’s latest audited annual financial report. 
 8) The
Applicant has not paid any debts under any contract that are due or declared expired before the due date. 
 9) The Applicant fails to accept the bill
issued by it to any other person when it falls due or the guarantee provided to any other person is required to be performed. 
 10) The Applicant’s
business scope or business operations have undergone major changes. 
 11) The Applicant is subject to insolvency, business stoppage, liquidation or its
business license is revoked or canceled or application for or being filed for bankruptcy, dissolution and other circumstances. 
 12) If the credit status
of the Applicant declines, or there is any material adverse event on the management, operation, assets, financial status or solvency, or it breaks through the index constraints or other financial agreements stipulated herein, and it fails to notify
the Bank immediately or fails to make improvement within the period as required by the Bank. 
 13) The Applicant omits to make management and recover the
claims fall due or disposes of claims or properties for free or other improper ways. 
 14) Any guarantee provided by the Applicant or the Guarantor is no
longer valid or the title is disputed or becomes unenforceable or the Bank believes that the value of any such guarantee is substantially depreciated. 

15) The Guarantor violates the guarantee contract, or breaches other contracts entered with any business outlets of Fubon Bank. 

16) The Applicant involves or may be involved in major economic disputes, litigation, arbitration, supervision by the court and other competent authorities or
its accounts or assets are seized, attached, frozen, deducted or enforced, or is investigated or punished by the judiciary or tax, industry and commerce or other authorities according to the law, which may or may have affected the performance of its
obligations under the Contract. 
 17) The Applicant’s shareholders, directors, major individual investors or key officers abnormally change, are
missing or investigated or restricted by the judicial authorities according to the law or the controlling shareholder’s credit status or operating conditions are abnormal, which may or may have affected the performance of their obligations
under the Contract. 
 18) There are significant and abnormal capital inflows and outflows in the designated funds withdrawal account and the Applicant
cannot provide explanatory materials approved by the Bank. 
 19) The Guarantor (natural person) has no capacity for civil conduct, disappears or is dead
without heir, beneficiary, property supervisor (administrator) or guardian, or his heir, beneficiary, property supervisor (administrator) or guardian refuses to perform the Contract; the Guarantor (legal person) enters or may enter into the
suspension, liquidation, dissolution, revocation, bankruptcy, merger, reorganization, separation or major litigation, arbitration or administrative procedures, which can affect its ability to guarantee. 

20) The Applicant or the Guarantor violates other interim/post loan conditions in the Bank Credit Notice. 

21) The Applicant violates Article 4.8. 
 22) The Applicant
breaches any agreements made in specific contracts. 
 23) Without the consent of the Bank, the Applicant disposes of the assets for the fixed assets
investment project or uses the loan under the Contract to establish a guarantee for a third party or allow the existence of the foregoing guarantee. 
 24)
The Guarantor under the Contract has any of the above circumstances or violates the relevant provisions of the Contract or the guarantee contract. 

  

			
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 25) To the Bank’s reasonable judgment, there have been other events that may substantially damage the
Bank’s interests under the Contract and have a material adverse effect on the continued performance of the business, which include but not limited to major changes in the market related to the business handling, foreign exchange supervision,
other nations’ political situation, financial situation or other force majeure events or significant adverse changes in the performance of other parties involved in the business handling. 

  

			
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 12.2 In addition to the event of default as stipulated in Article 12.1, if the Applicant is a group
customer identified by the Bank, the following matters are further regarded as the event of default under the Contract: 
 1) The Applicant provides
false materials or conceals important operating or financial information. 
 2) The original purpose of the loan changes without the consent of the Bank or
the Applicant uses the loan or uses the bank credit to engage in illegal transactions. 
 3) The Applicant uses false contracts with the related parties,
conducts bank discount or pledge to cash funds or credit with the notes receivable, account receivable or other claims with no real trade background. 
 4)
The Applicant refuses to accept the Bank’s supervision and inspection of its use of credit funds and related operating and financial activities. 
 5)
The Applicant is subject to significant mergers, acquisitions and restructurings, etc., which the Bank believes may affect credit security. 
 6) The
Applicant intends to evade the Bank’s claims through related party transactions. 
 7) Other major breaches identified by the Bank. 

A group customer refers to a corporate legal person customer that has one of the following conditions: a) directly or indirectly controlling other
corporate legal persons on the equity or controlled by other corporate legal persons; b) jointly controlled by a third-party corporate legal person; c) directly or indirectly controlling other corporate legal persons in terms of major business
decisions or business management or controlled by other corporate legal persons; d) directly controlled or indirectly controlled by its major individual investors, key officers, and family members closely related to the foregoing (including direct
family relationships within three generations and the kinship within the second generation), among which, the key officers include chairman, legal representative, executive director and general manager; e) there are other associations, that the Bank
deems necessary to conduct credit management as a group customer. 
 Article 13 Treatment in the event of breach 

13.1 When an event of breach occurs, the Bank has the right to take any or several of the following measures: 

1) Requesting the Applicant and the Guarantor to correct breach within a specified period. 

2) Reducing or canceling the credit line under the Contract, or stopping the use of the remaining credit line. 

3) Adjusting RMB credit execution interest rate under the Contract to 45% plus the strike rate on the adjustment date and applying it immediately;
adjusting foreign currency credit execution interest rate under the Contract to 3% plus the strike rate on the adjustment date and applying it immediately. After the Bank makes a decision to raise the interest rate, it shall notify the Applicant in
writing within five working days. 
 4) Terminating or removing the Contract or terminating or removing other contracts entered into by and between
the Applicant and the Bank in whole or in part. 
 5) Requiring the Applicant to provide a full deposit pledge for the payment of bank acceptance
bills, letters of guarantee, standby letter of credit, letter of credit, guaranteed delivery, overseas payment and other credit business that do not fall due. If the Applicant does not provide, penalty interest will incur as agreed in Article 5.3
from the date when the Bank makes payment on its behalf. 
 6) Requiring the Applicant to provide a separate guarantee, mortgage, pledge or other
guarantees approved by the Bank. 
 7) The loan principal and/or interest that the Applicant fails to pay on time is regarded as overdue loan, for
which, penalty interest will incur according to Article 5.3 from the date of delay. 
 8) Declaring that all or part of the Applicant’s credit
under the Contract expire immediately and requiring the Applicant to immediately repay part or all of the loan principal, interest and expenses, and from the date of the breach of contract, all interest and principal that have been issued will be
subject to interest at the interest rate specified in Article 5.3 until the Applicant has paid off all debts. 

  

			
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 9) The Bank directly makes deductions from any account opened by the Applicant in any business outlet of
Fubon Bank, to offset the debts owed by the Applicant in the Contract without notifying the Applicant in advance. The outstanding amount in the account will be deemed falling due in advance. If the currency in the transfer account is inconsistent
with the actual currency, the deduction will be made on the basis of the exchange rate applicable to the Bank on the deduction date, and the relevant risks and losses will be borne by the Applicant. 

10) Disposing of the collateral or pledge, paying off the principal and interest of the loan, or recovering the joint liability of the Guarantor according
to the law, or recovering from the party providing other guarantees. 
 11) Requiring the Applicant to compensate the Bank for the losses caused by
its breach of contract. 
 12) Taking other remedies permitted by the laws and regulations and the Contract. 

13.2 Under the above circumstances, the Applicant assumes all losses caused to the Bank due to breach of contract. In the event of any of the above cases,
the expenses incurred in collecting the principal and interest of the loan, including but not limited to the announcement fee, the service fee, the appraisal fee, the lawyer’s fee, the legal fee, the arbitration fee, the travel expenses, the
property preservation fee, etc., will be assumed by the Applicant. 
 13.3 Where the Bank claims subrogation right against the debtor of the
Applicant according to the law, or requests the court to revoke the Applicant’s waiver of its due debt or transfer of the property without compensation, and at an unreasonably low price, the Applicant shall provide all necessary cooperation and
assistance as required by the Bank, with all expenses incurred by the Bank being borne by the Applicant. 
 Article 14 Effectiveness, modification
and revocation 
 14.1 The Contract will enter into force after the legal representatives (persons in charge) or authorized agents of the Parties sign
the same and affix their official seals hereon. 
 14.2 Where the Bank cannot perform the Contract or cannot perform the same as agreed due to changes in
laws and regulatory regulations or the requirements of the regulatory departments, the Bank has the right to terminate or change the performance of the Contract in accordance with the changes of the laws and regulatory regulations or the
requirements of the regulatory departments. In the event that it thereby terminates or changes the Contract, which makes the Bank cannot perform or perform as agreed, the Bank will be exempted from liabilities. 

14.3 Any changes in the terms of the Contract and other matters uncovered will be made through friendly negotiation in writing and changes or modifications
constitute an integral part hereof. The modification or supplementary agreement will have the same legal force as the Contract. 
 Article 15
Miscellaneous 
 15.1 Rights reserved 
 The Bank’s
tolerance, grace or delay in enforcing or failure to enforce some or all of the rights or benefits of the Bank in the Contract with respect to any breach of contract or delay of the Applicant, will not damage, affect or limit the Bank’s rights
and benefits as a creditor under the Contract and relevant laws, or may not be deemed as a license or endorsement by the Bank of any breach of the Contract, nor shall it be deemed as the Bank’s waiver of the rights to take actions for the
existing or future default or exemption from the Applicant’s obligations and responsibilities. 

  

			
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 15.2 If and in the event that the Contract becomes void, or invalid in law in part for whatever reason, the
Applicant shall assume all the liabilities owed to the Bank under the Contract. In the event of the above cases, the Bank has the right to terminate the Contract and immediately recover all debts owed by the Bank under the Contract from the
Applicant. 
 15.3 The address filled in by the Applicant in the Contract is the confirmed mailing address and the address for service of the legal
instruments. If there is any change, the Applicant shall notify the Bank in writing within ten natural days after the change with the postal cost incurred being borne by the Applicant. The original address is still considered valid until the Bank
receives the Applicant’s notice of change. If the Bank’s address changes, it only needs to be announced at the business premises or through other channels. 

The notices and requirements related to the Contract between the Bank and the Applicant shall be sent by registered mail, EMS or other written forms agreed by
them. Any communication or document made or delivered by the Bank to the Applicant under the Contract or for the Contract shall be deemed to be validly served in the following circumstances: 

a) If delivered by hand, at the time of delivery by hand; 
 b) If
sent by letter, on the second (2) natural day for the same city, the fifth (5) natural day for different cities after the envelope marked with such address is mailed with postage prepaid; 

c) If sent by e-mail or other electronic means of communication, at the time of receipt in a clearly visible form;

 d) If transmitted by telex or fax, at the time of completion of the transmission and receipt of the correct number or fax report; 

e) In the case of notification of transfer or collection by making an announcement in public media or other means, it shall be deemed to have been served to
the other party on the date of the announcement. 
 The Applicant agrees that the Bank entrusts a courier to send notices, documents or other written
documents relating to the Contract. If there is any loss or delay in the process of sending, the Bank will not bear any responsibility. However, the Bank will actively cooperate with the Applicant and take remedial measures to minimize risks and
economic losses. 
 15.4 If any provision hereof is deemed illegal, invalid or unenforceable in any aspect at any time, other provisions hereof will
still be valid, and the legality, validity and enforceability thereof may not be affected or impaired. 
 15.5 If the Bank transfers the claims hereunder,
the Contract continues to apply to the Applicant and the assignee. 
 15.6 During the term of the Contract, if the Bank completes the change of company name
in accordance with the relevant procedures stipulated by laws and regulations, it will not affect all rights and obligations of the Bank under the Contract. The Bank agrees to make an announcement on the business outlets and/or the official website
after the name change is completed. The Bank’s completion of the aforementioned announcement is deemed to have completed its notification obligation to the Applicant. Except with the consent of the Bank, the Applicant has no right to require
the Bank to issue any other form of notice for the change of company name. 
 15.7 Where, from the date of signing the Contract to the debt satisfaction
under the Contract, the Applicant irrevocably authorizes the Bank to handle various credit business for the Applicant, it can check the Applicant’s credit information via the financial credit information base and other credit reporting agencies
legally established and use the credit information. The Bank shall not disclose the Applicant’s credit information to any person without the consent of the Applicant in writing, except in the following cases: (1) disclosure made to any
court, judging agency, regulatory body, government agency that has jurisdiction and regulatory power over the Bank; (2) otherwise made as required by laws and regulations. Where the Bank enters, inquires or uses the Applicant’s information
beyond the above-mentioned scope of use, all the consequences and legal liabilities arising therefrom will be borne by the Bank. The Applicant agrees that the Bank can report the Applicant’s credit information to the financial credit
information base and other credit reporting agencies legally established. The Applicant is fully aware of and understands all contents of the above-mentioned terms on authorization and grants authorizations to the Bank on this basis. 

  

			
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 15.8 The valid vouchers supporting the Bank’s claims under the Contract shall be subject to the
accounting vouchers issued and recorded by the Bank in accordance with its own business regulations. 
 15.9 Without prejudice to other agreements under the
Contract, the Contract is binding upon the Parties and their respective successors and assignees. 
 15.10 The headings of the clauses and sub-clauses of this Contract are inserted for convenience only and shall not affect the meaning and interpretation of any clause hereof. 

15.11 If the Bank needs to entrust other business outlets of Fubon Bank to fulfill the rights and obligations under the Contract due to business needs, or to
transfer its business hereunder to other business outlets of Fubon Bank and the Applicant acknowledges the same. Other business outlets of Fubon Bank authorized by the Bank, or other business outlets of Fubon Bank undertaking the business hereunder
have the right to exercise all the rights under the Contract and file a lawsuit or apply for enforcement to the court in connection with the disputes hereunder in the name of the foregoing business outlets. 

15.12 The Applicant agrees that the Bank will entrust a third party with the accompanying business (including but not limited to debt collection and other
items) related to the Contract, and that the Bank will provide relevant information and materials of the Applicant under the Contract to the above third party for handling the entrustment. 

Article 16 Applicable laws and disputes resolution 

16.1 The Contract is governed by the laws of the People’s Republic of China (excluding Hong Kong Special Administrative Region, Macao Special
Administrative Region and Taiwan region). If a dispute arises between the parties to the Contract in the performance of the Contract, it may be settled through negotiation, failing which, either party may file a lawsuit in the people’s court
with jurisdiction where the Contract is signed or the defendant is located. If other forums are selected, it may be determined in the supplementary clause. During the negotiation and arbitration, the clauses in the Contract not involving the
disputes shall still be fulfilled. 
 Chapter II Particular Conditions of Partial Credit Business 

Article 17 Special clauses under the business of import letter of credit 

17.1 For the purpose hereof, the so-called issue of import letter of credit refers to the act of the issuing bank, at
the application of the applicant (hereinafter referred to as the “applicant” in this clause), to issue to exporter (beneficiary) conditional written payment commitment for the payment against a letter of credit within the prescribed time
limit. 
 17.2 The Applicant agrees that the issuing bank will handle all matters under the letter of credit in accordance with the latest version of the
International Chamber of Commerce’s Uniform Customs and Practice for Documentary Credits, and assume the obligations and responsibilities arising therefrom. 

17.3 The opening of and modification of the letters of credit 

1) If the issuing bank accepts the application from the applicant for issue of a L/C, the L/C shall be issued according to the application submitted by the
applicant, and the final content shall be subject to that set out in the L/C issued by the issuing bank. 
 2) The issuing bank’s request against the
applicant to submit documents or documents related to the opening of the letter of credit, such as trade contracts, etc. will not be construed as obligatory to open a letter of credit in accordance with such documents. 

3) If the applicant needs to amend the letter of credit, it shall submit an application for amendment of the letter of credit to the issuing bank. The
Applicant agrees that the issuing bank will handle matters with respect to the amendment to the letter of credit in accordance with the foregoing Uniform Customs and Practice for Documentary Credits, and assumes the obligations and responsibilities
arising therefrom. Once issued, the Application for Modification of the Letter of Credit will immediately be binding upon the applicant. However, all changes under the letter of credit will not take effect until the beneficiary and the confirming
bank (if any) accept it. If the amendment of the letter of credit involves increasing the amount thereof, deposit or other guarantees shall be provided as required by the issuing bank. 

4) The issuing bank has independent judgment on the modification of the letter of credit. It has the right to refuse to accept the application for
modification submitted by the applicant, and also has the right to make suggestions on the contents of the amendment. If the amendment of the letter of credit involves the amount, currency, interest rate, time limit, etc., and the issuing bank
considers that the obligations of the Guarantor are aggravated, the issuing bank has the right to request the Applicant to increase the deposit or other guarantees, and/or require the Applicant to obtain the written consent of the Guarantor.
Otherwise, the issuing bank has the right to refuse to accept the Applicant’s application for modification. 

  

			
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 5) The modification of the letter of credit does not change the Applicant’s other rights and
obligations in the Contract. 
 6) The Applicant shall pay to the issuing bank all the expenses incurred due to the opening and modification of the letter
of credit (including the relevant bank fees that the foreign beneficiary refuses to bear) as agreed. Unless otherwise agreed by the Parties, the relevant fees shall be based on the billing standards of the issuing bank. 

17.4 External payments under a letter of credit 
 1) During the
validity period of the letter of credit, upon receipt of the notice from the issuing bank, the Applicant shall notify the issuing bank of the handling of the documents within the time specified in the notice. Otherwise, the Applicant will be deemed
to have no refusal to pay the letter of credit and agree that the issuing bank makes external payment/accepts the letter of credit/commits to make payment. 

2) Where the Applicant shall notify the issuing bank of accepting the documents within the time specified in the notice and the issuing bank agrees with the
same, the issuing bank makes external payment/accepts the letter of credit/commits to make payment. The Applicant shall deposit the monies for payment as agreed in the application for opening. 

3) If the Applicant informs the issuing bank of accepting the letter of credit, but the issuing bank disagrees, the issuing bank has the right to decide
whether to refuse to pay according to whether the documents and letter of credit are in conformity; if the Applicant agrees to provide the issuing bank with sufficient deposit or other payment guarantees, the issuing bank has the right to waive the
right to dishonor or to retain the right to dishonor as the case may be. 
 4) In each letter of credit business under the Contract, the Applicant shall
ensure that the relevant payment or acceptance procedures are handled when the issuing bank determines that the documents and the letter of credit are in conformity. 

If the payment or acceptance is refused due to the inconsistency of the documents and the letter of credit, the Applicant shall return the full set of
documents to the issuing bank in writing within the time limit specified in the issuing bank’s notice, and attach the reasons for dishonor in written form. The issuing bank will determine whether to dishonor according to the international
practice. The Applicant acknowledges that the issuing bank has the independent right to determine the reasons for dishonoring the letter of credit, and is entitled to bind the Applicant and the Guarantor accordingly. If the issuing bank believes
that the reason for the refusal of the Applicant is not established or the Applicant has not returned the full set of documents or exceeds the time limit specified in the notice, the issuing bank has the right to independently decide to make
external payment or accept the letter of credit, in which case, the Applicant still bears the obligation to make payment against the letter of credit and the corresponding interest and expenses to the issuing bank. At the same time, if the reason
for the refusal of the issuing bank is determined by the remitting bank or the negotiating bank, the Applicant will assume all the responsibilities and bear the corresponding amounts and interest as well as other items including but not limited to
legal fees, attorney fees, etc. 
 5) Regardless of whether the letter of credit can be dishonored under the Contract, the Applicant shall, at the latest
payment date, transfer the amount payable under the letter of credit to the settlement account opened by the Applicant in the issuing bank for the purpose of repaying the Applicant’s debts under the Contract. Otherwise, the issuing bank has the
right to deduct any amount from any of the Applicant’s accounts for payment of any money and fees under the letter of credit and to notify the Applicant. If the Applicant’s account balance is insufficient and the issuing bank advances the
funds, the issuing bank has the right to charge the Applicants the penalty interest in accordance with Article 5.3 from the date of advance payment. 
 6)
If the provision deposited by the Applicant is insufficient and the issuing bank makes advance payment, Once the payables are paid, it constitutes the debts of the Applicant to the issuing bank under the Contract, and the Applicant shall promptly
pay off the debts. 
 17.5 Supplementary commitments 
 1)
After the letter of credit is issued, if the import and export trade contract amends in relation to the letter of credit, the Applicant shall immediately notify the issuing bank in writing. 

  

			
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 2) After the issuing bank makes advance payment or accepts or honors the letter of credit, the issuing bank
is entitled to dispose of the full set of documents/goods under the letter of credit or other security interests or property rights and interests to which it may be entitled in accordance with any applicable laws or regulations. If the right to
dispose of the full set of documents/goods under the letter of credit belongs to the Applicant in accordance with the applicable laws, regulations or the judgment of the court or arbitration institution with jurisdiction, the Applicant agrees to
unconditionally transfer such right to Party B to the maximum extent permitted by applicable laws and acknowledge all of the issuing bank’s acts and omissions regarding the disposal of the documents/goods. If the right to dispose of the full
set of documents/goods under the letter of credit belongs to the issuing bank in accordance with the applicable laws, regulations or the judgment of the court or arbitration institution with jurisdiction, the issuing bank will reserve such right
until the Applicant redeems the documents or repays the funds advanced by the issuing bank in full. 
 3) For forward bills confirmed or deferred
payments accepted by the issuing bank, the Applicant will not request the issuing bank to stop payment for any reason, and within the scope permitted by laws and regulations, it will waive its right to for any reason apply for freezing or file a
lawsuit with the court requesting for stopping payment under the letter of credit. 
 4) The risk of loss, delay, error, damage, etc. in the process of
postal, telecommunications transmission or other transmission of business correspondence and documents under the letter of credit and the risk arising from the use of third party services by the issuing bank will be borne by the Applicant. 

5) The issuing bank has the right to select the advising bank and the negotiating bank of the letter of credit and other banks to handle the relevant business
according to the needs of the work. 
 6) Before the Applicant has paid the full amount of the letter of credit, the title to the documents under thereunder
and/or the ownership of the goods represented by the documents belong to the issuing bank. The full amount of the above-mentioned letter of credit includes price for goods of the letter of credit (including the increase as a result of amendment to
the letter of credit and/or the increase in foreign overflow), interest, and bank fees (including fees rejected by foreign beneficiaries or bank) 
 as well
as the foreign exchange and RMB funds (including related legal fees, attorney fees, etc.) required for compensating the issuing bank for the letter of credit (including relevant legal fees, attorney fees, etc.). 

7) The Applicant agrees to bear the expenses related to the Contract and its letter of credit, unconditionally repay the issuing bank’s advance payment
and any other monies and expenses under the letter of credit of the Contract, and bear all losses incurred by the issuing bank, including but not limited to advances in principal and interest, liquidated damages, damages and other related expenses.

 8) The letter of credit opened by the issuing bank is independent of any trade contract relationship. The Applicant is responsible for the authenticity
and validity of the basic trade contracts and documents concerning the letter of credit and contents thereof. If there is any dispute or fraud in the trade contract involved in the letter of credit, the Applicant will resolve it on its own, and may
not make any claims or requirements against the issuing bank in any way. 
 9) If the application for the issuance shall be completed in English, the
Applicant shall bear the responsibility for the translational ambiguity arising from the Applicant’s completion in Chinese and/or the responsibilities and consequences arising from the unclear handwriting or ambiguous meaning. 

10) Check is required in time after receiving the copy of the letter of credit and the revised version issued by the issuing bank. If there is any
discrepancy, the issuing bank shall be contacted within two working days after receiving the copy. If not notified, it is considered correct. 
 11) The
Applicant will comply with any applicable foreign exchange regulations and will promptly obtain or procure others to obtain any necessary import and export licenses or other licenses, and will compensate the issuing bank if it does not obtain such
import or export license or other licenses or if there is any defect thereon or if there is no import or export license or other licenses. The Applicant warrants that no shipment or other transaction will be made in respect of any import L/C in
violation of the regulations of the People’s Republic of China or any other applicable countries. 

  

			
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 12) Before the Applicant pays the issuing bank the amount of each import letter of credit and all debts,
commissions, fees and interest related thereto, and before it satisfies all obligations to the issuing bank with respect to the import letter of credit and its related goods, the issuing bank may (but not necessarily) give instructions for the
shipment, destination and delivery of any such goods as deemed appropriate by the issuing bank, as in the case of the Applicant, and directly reach arrangements (including changes or performance of any contract) as deemed appropriate by the issuing
bank with the seller or the shipper or other person. The issuing bank is not liable for any loss arising from any such instructions or arrangements. Any direct intervention by the issuing bank will not affect the Applicant’s obligations to the
issuing bank, and the Applicant shall reimburse the issuing bank for all payments made for any of the above interventions. 
 13) The import letter of
credit referred to in the Contract includes any import letter of credit with an increase in the amount, extension or other modifications. 
 Article 18
Special clauses under the business of guaranteed delivery 
 18.1 The term “guaranteed delivery” as used in the Contract refers to the case
that the applicant for the guaranteed delivery (hereinafter referred to as “the Applicant” in this clause) applies to the issuing bank (accepting bank) for going through the formalities for picking up the goods with the shipping company by
producing the guaranteed delivery document signed by the accepting bank, since the arrival of the goods at the port of destination under the import letter of credit is earlier than the arrival of delivery document at the issuing bank. 

18.2 The Applicant undertakes to be responsible for the authenticity and validity of the original bill of lading and other relevant documents, notes,
applications and their contents corresponding to the guaranteed delivery documents under the Contract, and assumes all responsibility arising therefrom. 

18.3 The Applicant undertakes not to create any form of guarantee on the goods to be picked up without the written consent of the accepting bank. 

18.4 The Applicant undertakes to, upon receipt of the relevant documents, regardless of whether it is in full conformity with the relevant letters of credit
or contracts and the bills and documents under the letter of credit, make payment or acceptance immediately as requested by the accepting bank, and will never propose to refuse to pay or accept for any reason (including but not limited to
discrepancies or fraud). After the accepting bank issues a payment notice, if the Applicant fails to make a payment or acceptance as required by the accepting bank, the accepting bank has the right to deduct directly from the Applicant’s
account and make payment on time. Once the Applicant applies to the accepting bank for issuing a guaranteed delivery document, it means a waiver of the right to refuse to pay due to discrepancies. 

18.5 The Applicant shall, within fifteen days after receiving the original bill of lading, exchange for the original of the guaranteed delivery document under
the Contract with the carrier and return it to the accepting bank. Otherwise, the accepting bank has the right to collect handling charges on the Applicant according to the provisions. 

18.6 The Applicant undertakes not to refuse to pay the letter of credit or to make other claims against the accepting bank on the grounds that the goods do
not conform to the bill of lading or any trade dispute with the exporter. 
 18.7 When the carrier of the bill of lading and its agent or the right assignee
under the Contract claims against the accepting bank as agreed in the guaranteed delivery document, the accepting bank will perform the guarantee liability according to the guaranteed delivery document, and may specifically make payment in any of
the following ways: 
 1) making deductions directly or via the accepting bank from any account opened by the Applicant in any business outlet of Fubon Bank
and notifying the Applicant; 
 2) When the amount of funds in the Applicant’s account is insufficient, the accepting bank will notify the Applicant of
making up the difference; 
 3) making payment by the accepting bank through the realization of counter-guarantee rights; 

4) Advance payment by the accepting bank, and recourse against the Applicant and the counter-guarantor. The monies will ultimately assumed by the Applicant.

 18.8 In the performance of the obligation to deliver the goods under the Contract to the carrier and its agents or rights assignees, the receiving bank
may make external payments without the prior consent of the Applicant, and will only be responsible for the formal examination of supporting documents. It is not liable for the basic contract disputes involved, nor is it affected by any thereof, and
is not liable for the authenticity of the relevant claim documents. 

  

			
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 18.9 If the accepting bank needs to advance payment for the performance of its guaranteed delivery document
under the Contract, it has the right to charge the Applicant interest on the advance payment from the date of advance payment, and recover from the Applicant or through the realization of the counter-guarantee right the capital and interest,
liquidated damages, damages and all other related expenses. 
 18.10 The Applicant guarantees to compensate for any losses incurred to the accepting bank
due to the issuance of the guaranteed delivery document under the Contract, including but not limited to the advance payment, interest and other expenses (including but not limited to legal fees, application execution fees, attorney fees, travel
expenses and other expenses to realize claims, etc.) payable for the guaranteed delivery. 
 Article 19 Special clauses under the business of import bill
advance 
 19.1 For the purpose hereof, the term “import bill advance” means a kind of trade financing operations which the applicant for bill
advance (hereinafter referred to as “Applicant” in this clause) applies for financing to the accepting bank when it requests for foreign currency payments due to trade needs, and requires the accepting bank to make external payment first
and the Applicant repays the principal, interest and related expenses to the accepting bank on the maturity date, including but not limited to the import bill advance under the letter of credit, the import bill advance under the collection and the
foreign exchange bills under the outward remittance. 
 19.2 If the accepting bank accepts the application from the Applicant for the import bill advance
business, it shall deduct the bank fee and other related expenses payable by the beneficiary (if any) and then make payment according to the currency and amount agreed in the application for import bill advance accepted by the accepting bank to the
account designated by the remitting bank. 
 19.3 The Applicant has the right to request the accepting bank to make timely payment in accordance with the
Contract after signing the Contract and related documents and accepting the approval of the accepting bank. However, the Applicant must repay the principal and interest and the other expenses and losses that the Applicant should bear in strict
accordance with the agreed time limit. 
 19.4 If the Applicant applies for bill payment to pay the amount of the letter of credit/handling the letter of
credit and therefore pays deposit under the letter of credit to the accepting bank, the remaining part is automatically transferred to the deposit for the import bill advance. 

19.5 After the accepting bank’s external payment (ie, payment of consideration), the Applicant agrees that the full set of documents/goods under the
import business corresponding to the import bill advance business is fully vested in the accepting bank, which may retain such rights until the Applicant fully repays the trade financing provided by the accepting bank. 

If the right to dispose of the full set of documents/goods under the import bill advance belongs to the Applicant in accordance with the applicable laws,
regulations or the judgment of the court or arbitration institution with jurisdiction, the Applicant agrees to unconditionally transfer such right to the accepting bank to the maximum extent permitted by applicable laws and acknowledge all of the
accepting bank’s acts and omissions regarding the disposal of the documents/goods. 
 19.6 For the Applicant’s application to the accepting bank
for holding documents/goods, and repayment to the accepting bank’s financing with sales proceeds, the Applicant only acts as the trustee of the accepting bank, including but not limited to the custody of relevant documents, and handling of the
storage, custody, transportation, processing, sales and insurance of the goods under the documents, as well as depositing the money into the account designated by the accepting bank. Therefore, the Applicant promises that the proceeds from the sales
of the business under the import bill advance will be used first to repay the principal and other fees and charges of the Applicant at the receiving bank, and the Applicant may not postpone the payment or otherwise dispose of the goods in non-currency manner or below the market price, nor sell them to any person against whom the Applicant is not entitled to claim compensation. In addition, the Applicant shall not pledge/collateralize the goods
indicated on the documents to the other person or subject the goods to any lien before the financing principal and interest and the expenses are paid off. 

19.7 As entrusted by the accepting bank, at the request thereof, the Applicant shall submit details of the goods including any accounts, sales income or the
sales contract related thereto to the accepting bank; the accepting bank shall have the right to inspect the goods at any time or re-occupy the same. In addition, when the Applicant sells the goods to a third
party, it shall indicate to the third party the identity of the trustee as the accepting bank, and also notify the accepting bank when entering into the contract for processing the goods with any third party. 

  

			
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 19.8 Except those to be assumed by the accepting bank as required by laws and regulations, all expenses
incurred in connection with the goods during the custody of the Applicant (including but not limited to insurance, warehousing, transportation, terminal charges, etc.) shall be borne by the Applicant, who undertakes to insure all possible risks of
the goods at the market price thereof, list the accepting bank as the primary beneficiary on the original of the insurance policy. If the insured goods are damaged, the accepting bank is entitled to directly claim from the insurance company. 

19.9 Before the full repayment of principal and interest as well as expenses, upon request by the accepting bank, the Applicant shall sign the relevant
documents or perform the relevant procedures deemed necessary by the accepting bank to confirm the accepting bank’s ownership of the goods represented by the above-mentioned documents. The accepting bank has the right to dispose of the relevant
documents and goods in such manner as it deems necessary, and if the proceeds are insufficient to settle the financing principal and interest, the Applicant shall otherwise raise funds in this regard. 

19.10 If the Applicant expressly indicates inability to repay or the accepting bank believes with definite evidence that the Applicant is unable to repay the
financing principal and interest and expenses as agreed, the accepting bank has the right to dispose of the relevant goods or related documents and use the proceeds to settle the debts owed by the Applicant. When the above proceeds are insufficient
to pay off all debts, the accepting bank still has recourse to the Applicant. 
 19.11 All records, contents, endorsements, etc. of the relevant documents
and the possession and control of the documents by the accepting bank under the import bill advance shall not be regarded as any form of reduction or exemption of the debts owed by the Applicant to the accepting bank, compensation or other forms of
reduction thereof. The Applicant undertakes not to claim any compensation, recourse or other rights against the accepting bank for the foregoing reasons. 

Article 20 Special clauses under the business of export bill advance 

20.1 For the purpose hereof, the export bill advance refers to an act of financing by paying for the goods by the accepting bank to the Applicant before the
issuing bank or the importer makes payment, after the Applicant submits the letter of credit and/or relevant documents to the accepting bank upon goods delivery, including but not limited to the export bill advance under the letter of credit and the
export bill advance under the collection. 
 20.2 Once the fund under the export bill advance hereunder is issued by the accepting bank, it constitutes the
debts of the Applicant to the accepting bank. The Applicant agrees to transfer the accounts receivable arising from the corresponding export sales contract to the accepting bank. If the accounts receivable are insufficient to repay the accepting
bank’s principal, interest and all other losses of the export bill under the Contract, the Applicant agrees and authorizes the accepting bank to deduct the corresponding fund from the remittance from the foreign importer (buyer). The funds
shall be used preferentially to repay the principal and interest, fees and all other losses of the accepting bank under the Contract; Moreover, it promises to raise sufficient funds for the repayment of the principal, interest and all other losses
of the export bills under the Contract; otherwise, the accepting bank has the right to pursue and recover from the Applicant and directly deduct the corresponding amount from the foreign currency account or any other account with the accepting bank
for repayment of the above amount. 
 20.3 The Applicant shall make sure that there is sufficient funds in the account opened with the accepting bank before
the maturity date of the export bill under the Contract, and the accepting bank shall have the right to make deduction from the account. Where the Applicant fails to repay in full debts that fall due to the accepting bank on time, the accepting bank
has the right to deduct directly from any of the Applicant’s accounts. If the Applicant fails to pay the amount due, the accepting bank has the right to exercise the security right or to take other measures to realize its claims. 

20.4 Prior to the satisfaction of the principal and interest and other expenses hereof, the accepting bank has the right to directly use the proceeds received
under the export bill without the consent of the Applicant to repay the principal and interest and other expenses of the export bill until all the debts have been settled. 

20.5 If the accepting bank accepts the Applicant’s application for export bills, it shall, in the currency and amount specified by the Application for
the Export Bill Advance as accepted by it, pay to the Applicant or the payee designated thereby after deducting the Applicant’s interest, post and telecommunications charges, bank charges (including foreign bank fees) and other related expenses
in advance. 

  

			
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 20.6 If the accepting bank simultaneously handles the packaged loan business with the export bill advance
under the letter of credit, the Applicant agrees that the loan borrowed for the export bill will be used by the accepting bank first in the order set forth in Article 8.6 to charge against the loan principal, interest and expenses provided by the
Applicant for the packaged loan business and the balance will be paid to the Applicant. 
 20.7 The Applicant agrees that the accepting bank has the right
to automatically use the corresponding amount to repay the debt of the Applicant’s export bill after receiving the proceeds from the export bill, without notifying the Applicant. 

20.8 Applicant’s confirmation 
 1) Once the Applicant
delivers the documents to the accepting bank and the accepting bank pays the money to the Applicant, the accepting bank will be entitled to dispose of the full set of documents/goods under the L/C/collection or other security interests or property
rights and interests to which it may be entitled in accordance with any applicable laws. The accepting bank shall retain such rights and interests until its claims are fully satisfied. When the accepting bank is unable to obtain compensation for
various reasons, it has the full right to make an absolute auction, resale and sale of the goods under the documents delivered by the Applicant, and to be compensated by using the proceeds on a priority basis. 

2) As for any export bill advance subject to nonconformity between documents and certificates, the accepting bank shall have the right to request the advance
repayment by the Applicant under documentary bills and other remedial measures as specified in the Contract, when the recovery of receivables in relation to the exported goods are affected by any factor. 

20.9 If the accepting bank requires the Applicant to insure short-term export credit insurance with its approved insurance company (the “insurer”),
the Applicant shall abide by the following agreement: 
 1) If the Applicant changes the terms of payment of the import and export sales contract, the
payment term and other contents as agreed in the Contract, it must obtain the prior written consent of the insurer. After obtaining the written consent of the insurer, the Applicant is obliged to submit the revised contract and the written approval
document of the insurer to the accepting bank for retention. 
 2) The Applicant must report all the exports within the scope of the corresponding insurance
policy to the insurer in full according to the reporting method and format prescribed by the insurer, and pay the insurance premium in time and in full. At the same time, the Applicant is obliged to entrust all the above-mentioned declared export
settlement services to the accepting bank for settlement. 
 3) The Applicant is obliged to fully perform the obligations under the insurance contract. if
there is an insured event under the insurance, the Applicant must promptly notify and claim in accordance with the insurance contract, and submit the Probable Loss Notice, Claims Application and the related claim documents to the insurer. At the
same time, the relevant documents will be copied to the accepting bank. If the accepting bank deems it necessary, the Applicant is obliged to authorize the accepting bank to make a claim on its behalf. 

4) The Applicant will fully fulfill its obligations under the above insurance policy and other relevant legal documents, and the breach of contract under the
above-mentioned legal documents will not occur. Otherwise, it will be treated as the default of the Applicant under the Contract. 
 20.10 The
Applicant’s supplementary commitment 
 1) Whiling submitting a business application to the accepting bank, the Applicant shall provide the accepting
bank with a full set of commercial documents according to the Uniform Customs and Practice for Documentary Credits, the International Chamber of Commerce Publication No. 600, the Uniform Rules for Collection, International Chamber of Commerce
Publication No. 522 and the corresponding revised versions, supplementary documents and international practices. The accepting bank will send the documents as required. 

2) The Applicant undertakes to abide by the Uniform Customs and Practice for Documentary Credits No. 600, the Uniform Customs Collection No. 522 and
the administrative provisions of the accepting bank regarding export bills. 
 3) There is no relationship between the Applicant and the importer. 

4) The Applicant shall provide a timely explanation of the sales of the goods under the export as required by the accepting bank. 

  

			
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 5) The Applicant shall inform the accepting bank in writing of any serious difficulty in the sales of the
goods under the export in a timely manner. 
 6) The Applicant undertakes to assume all responsibility arising from any discrepancies or other problems in
the documents submitted by the accepting bank. Whether the document discrepancies raised by the issuing bank or other banks are established, the Applicant agrees to the result of the accepting bank, and the Applicant will assume the resulting risks.

 7) Upon receipt of the bill, the accepting bank has the right to process the document as it sees fit. The accepting bank has the right to recourse to the
Applicant if the payer fails to pay the full amount of the letter of credit/collection note to the negotiating bank for whatever reasons in a timely manner. 

8) The fees and losses suffered by the accepting bank due to the receipt of the repayment of the issuing bank or the reimbursing bank or any measures taken to
preserve the goods shall be borne by the Applicant. 
 9) All matters concerning the export bills not covered are handled in accordance with the relevant
provisions of the accepting bank. 
 10) The Applicant obtains the acceptance bill under the usance letter of credit in a legal, good faith and honest
manner. 
 11) The Applicant is responsible for the authenticity, validity, accuracy and completeness of the documents or letters of credit provided by it,
and the bank disclaims any responsibility for verification. 
 12) The Applicant assumes all responsibilities for the legitimacy of underlying transactions
on the bill. 
 20.11 In addition to the circumstances stipulated in the Contract, the following circumstances also constitute or are deemed as the
Applicant’s breach of contract: 
 1) The foreign bank or payer refuses to pay, delays the payment or makes any deduction due to discrepancies in the
documents or any other reasons; 
 2) The foreign bank or payer refuses to pay, delays the payment or makes any deduction due to the turmoil in the place
where the issuing bank or the payer is located, the outbreak of war, the financial crisis, the bankruptcy of the issuing bank or the payer, and the event of force majeure; 

3) The foreign bank or payer refuses to pay, delays the payment or makes any deduction due to any loss or delay, failure in telecommunications or other
reasons during the delivery of the documents; 
 4) the bill accepting bank is considered by the accepting bank unable to fulfill payment obligations in
view of its deteriorated financial position; 
 5) the bill accepting bank is or probably is dissolved, revoked, closed down or declared bankrupted; 

6) the bill accepting bank is subject to freezing of funds or injunction of dishonor as declared by court; 

7) the bill accepting bank fails to make payment on time since it is frozen or stopped by court or prevented by other property preservation measures; 

8) the bill accepting bank has its major property damaged, attached, seized, frozen, confiscated, auctioned or disposed or requisitioned; 

9) the bill accepting bank is considered by the accepting bank to be affected by any major litigation or arbitration in which it is involved, as to its
performance of payment obligation; 
 10) the bill accepting bank is unable to make corresponding exchange payment due to the foreign exchange control in
its country; 
 11) the bill accepting bank is probably affected by other events in its country as to the accepting bank’s payment ability, as the
accepting bank believes. 
 Article 21 Special clauses under the business of domestic letter of credit 

21.1 For the purpose hereof, the domestic letter of credit refers to a commitment of the issuing bank to make payment against the letter of credit at the
application of the Applicant. 
 21.2 Opening and modification of the domestic letter of credit 

1) If the Applicant applies for the opening of the letter of credit, it shall fill in an application, the letter of commitment of the Applicant and submit the
relevant purchase and sale contract. The matters recorded in the application and the letter of commitment shall be complete and clear, and signed and sealed by the Applicant. The signature and seal shall be consistent with those reserved by the
bank. 

  

			
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 2) The domestic letter of credit business that needs to be reported to the relevant administrative
department of the country for approval must be approved in accordance with the relevant provisions. 
 3) If the issuing bank accepts the application from
the Applicant for issue of a L/C, the L/C shall be issued according to the application and letter of commitment submitted by the Applicant, and the final content shall be subject to that set out in the L/C issued by the issuing bank. 

4) The issuing bank’s request against the applicant to submit documents or documents related to the opening of the letter of credit, such as trade
contracts, etc. will not be construed as obligatory to open a letter of credit in accordance with such documents. 
 5) If the Applicant needs to amend the
letter of credit, it shall submit an application and the letter of commitment for amendment of the letter of credit and issue a written certificate proving the benefiary’s consent to the said amendment to the issuing bank. The Applicant agrees
that the issuing bank may deal with the modification under the said letter of credit in accordance with the Measures for the Settlement of Domestic Letter of Credit and assumes obligations and responsibilities arising therefrom. Once issued, the
Application for Modification of the Letter of Credit will immediately be binding upon the applicant. However, all changes under the letter of credit will not take effect until the beneficiary and the confirming bank (if any) accept it. 

6) The issuing bank has independent judgment on the modification of the letter of credit. It has the right to refuse to accept the application for
modification submitted by the applicant, and also has the right to make suggestions on the contents of the amendment. If the amendment of the letter of credit involves the amount, currency, handling charges, time limit, etc., and the issuing bank
considers that the obligations of the Guarantor are aggravated, the issuing bank has the right to request the Applicant to increase the deposit or other guarantees, and/or require the Applicant to obtain the written consent of the Guarantor.
Otherwise, the issuing bank has the right to refuse to accept the Applicant’s application for modification. 
 7) The modification of the letter of
credit does not change the Applicant’s other rights and obligations in the Contract. 
 8) The Applicant shall pay to the issuing bank all the expenses
incurred due to the opening and modification of the letter of credit (including the relevant bank fees that the beneficiary refuses to bear) as agreed. Unless otherwise agreed by the Parties, the relevant fees shall be based on the billing standards
of the issuing bank. 
 21.3 External payments under a domestic letter of credit 

1) During the validity period of the letter of credit, upon receipt of the notice from the issuing bank, the Applicant shall notify the issuing bank of the
handling of the documents within the time specified in the notice. Otherwise, the Applicant will be deemed to have no refusal to pay the documents and agree that the issuing bank makes an external payment/commits to make payment. 

2) Where the Applicant shall notify the issuing bank of accepting the documents within the time specified in the notice and the issuing bank agrees with the
same, the issuing bank makes external payment/commits to make payment. The Applicant shall deposit the monies for payment as agreed. 
 3) If the Applicant
informs the issuing bank of accepting the documents, but the issuing bank disagrees, the issuing bank has the right to decide whether to refuse to pay according to whether the documents are in conformity; if the Applicant agrees to provide the
issuing bank with sufficient deposit or other payment guarantees, the issuing bank has the right to waive the right to dishonor or to retain the right to dishonor as the case may be. 

4) In each letter of credit business under the Contract, the Applicant shall ensure that the relevant payment procedures are handled when the issuing bank
determines that the documents are in conformity. If the payment is refused due to the inconsistency of the documents and the letter of credit, the Applicant shall return the full set of documents to the issuing bank in writing within the time limit
specified in the issuing bank’s notice, and attach the reasons for dishonor in written form. The issuing bank will determine whether to dishonor according to the Measures for Settlement of Domestic Letter of Credit or its updates as at the
issue date of the letter of credit. The Applicant acknowledges that the issuing bank has the independent right to determine the reasons for dishonoring the letter of credit, and is entitled to bind the Applicant and the Guarantor accordingly. If the
issuing bank believes that the reason for the refusal of the Applicant is not established or the Applicant has not returned the full set of documents or exceeds the time limit specified in the notice, the issuing bank has the right to independently
decide to make external payment, in which case, the Applicant still bears the obligation to make payment against the letter of credit and the corresponding interest and expenses to the issuing bank. At the same time, if the reason for the refusal of
the issuing bank is determined by the remitting bank or the negotiating bank, the Applicant will assume all the responsibilities and bear the corresponding amounts and interest as well as other items including but not limited to legal fees, attorney
fees, etc. 

  

			
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 5) Regardless of whether the letter of credit can be dishonored under the Contract, the Applicant shall, at
the latest payment date, transfer the amount payable under the letter of credit to the settlement account opened by the Applicant in the issuing bank for the purpose of repaying the Applicant’s debts under the Contract. Otherwise, the issuing
bank has the right to deduct any amount from any of the Applicant’s accounts for payment of any money and fees under the letter of credit and to notify the Applicant. If the Applicant’s account balance is insufficient and the issuing bank
advances the funds, the issuing bank has the right to charge the Applicants the penalty interest in accordance with Article 5.3 from the date of advance payment. 

6) If the provision deposited by the Applicant is insufficient and the issuing bank makes advance payment, Once the payables are paid, it constitutes the
debts of the Applicant to the issuing bank under the Contract, and the Applicant shall promptly pay off the debts. 
 21.4 Buyer’s financing rules
under domestic letter of credit 
 1) For the purpose of this clause, the buyer’s financing business under domestic letters of credit includes
buyer’s negotiation and domestic payment business under domestic letters of credit. 
 2) Conditions precedent: 

(a) The Applicant shall satisfy the conditions precedent as stated in the Contract before applying to the accepting bank for handling the buyer’s
financing business; 
 (b) It is shall declared in the letter of credit that the Measures for Settlement of Domestic Letter of Credit issued by the
People’s Bank of China or a current valid updated version thereof on the issuance date of such L/C apply and the form and substance of the L/C shall be confirmed by the accepting bank. 

3) Application: the Applicant needs to submit an application for the buyer’s negotiation/payment under domestic letter of credit for each application
(the “buyer’s financing demands”). 
 4) Terms of payment: 

(a) Subject to the satisfaction of the conditions precedent to financing, if the accepting bank accepts the application from the Applicant for the buyer’s
financing, it shall deduct the bank fee and other related expenses payable by the beneficiary (if any) from the amount as agreed in the application for the buyer’s negotiation/payment under the domestic letter of credit accepted by it and then
make payment to the negotiating bank or beneficiary. 
 (b) The term of financing and other relevant specific matters shall be subject to the application.

 (c) Under the domestic payment service, the accepting bank has the right to choose the agent bank. 

5) Applicant’s confirmation: 
 (a) If the Applicant applies
for financing to pay the letter of credit/handling the letter of credit and therefore pays deposit under the letter of credit to the accepting bank, the remaining part is automatically transferred to the deposit for the financing business. 

(b) The accepting bank will be entitled to dispose of the full set of documents/goods under the buyer’s financing demands or other security interests or
property rights and interests to which it may be entitled in accordance with any applicable laws or regulations. If the right to dispose of the full set of documents/goods under the buyer’s financing demands belongs to the Applicant in
accordance with the applicable laws, regulations or the judgment of the court or arbitration institution with jurisdiction, the Applicant agrees to unconditionally transfer such right to the accepting bank to the maximum extent permitted by
applicable laws and acknowledge all of the accepting bank’s acts and omissions regarding the disposal of the documents/goods. If the right to dispose of the full set of documents/goods under the buyer’s financing demands/payment business
belongs to the accepting bank in accordance with the applicable laws, regulations or the judgment of the court or arbitration institution with jurisdiction, the accepting bank will reserve such right until the Applicant repays the funds financed by
the accepting bank in full. 

  

			
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 (c) For the Applicant’s application to the accepting bank for holding documents/goods, and repayment to
the accepting bank’s financing/payment with sales proceeds, the Applicant only acts as the trustee of the accepting bank, including but not limited to the custody of relevant documents, and handling of the storage, custody, transportation,
processing, sales and insurance of the goods under the documents, as well as depositing the money into the account designated by the accepting bank. The Applicant shall indicate this identity to a third party when selling goods thereto. 

(d) All expenses incurred in connection with the goods during the custody of the Applicant (including but not limited to insurance, warehousing,
transportation, terminal charges, etc.) shall be borne by the Applicant unless otherwise stipulated in laws and regulations, who undertakes to insure all possible risks of the goods at the market price thereof, list the accepting bank as the primary
beneficiary on the original of the insurance policy and submit it to the accepting bank for custody purpose. If the insured goods are damaged, the accepting bank is entitled to directly claim from the insurer. 

(e) Without the permission of the accepting bank, the Applicant may not process the goods by way of permitting deferred payment or any non-monetary method or selling them at a rate below market price. The Applicant does not mortgage or pledge the goods to any other person, or create or allow any creation of lien on them. At the request of the
accepting bank, the Applicant shall submit details of the goods including any accounts, sales income or the sales contract related thereto to the accepting bank; the accepting bank shall have the right to inspect the goods at any time or re-occupy the same. 
 6) Supplementary commitment: the Applicant undertakes that proceeds from the sales of goods under
domestic letter of credit will be first used to repay the Applicant’s financing to the accepting bank. 
 21.5 Seller’s negotiation rules under
domestic letters of credit 
 1) Conditions precedent: 
 (a)
The Applicant shall satisfy the conditions precedent as stated in the Contract before applying to the accepting bank for handling the seller’s negotiation business; 

(b) It is shall declared in the letter of credit that the Measures for Settlement of Domestic Letter of Credit issued by the People’s Bank of China or a
current valid updated version thereof on the issuance date of such L/C apply and the form and substance of the L/C shall be confirmed by the accepting bank. 

2) Application: after the Contract takes effect, the Applicant needs to submit an application for the seller’s negotiation under domestic letter of
credit for each application (the “seller’s negotiation demands”). 
 3) Payment: if the accepting bank accepts the application from the
Applicant for the seller’s negotiation under domestic letters of credit, it shall deduct the interest, postage, bank fee and other related expenses (if any) from the amount as agreed in the application for the seller’s negotiation under
the domestic letters of credit accepted by it and then make payment to the Applicant or the payee designated thereby. 
 4) The Applicant agrees that the
accepting bank has the right to automatically use the corresponding amount to repay the debt of the Applicant after receiving the proceeds from the negotiation, without notifying the Applicant. 

5) Interest and expenses: in order to handle the transaction, the Applicant agrees to pay interest and expenses to the accepting bank, subject to the
application for the seller’s negotiation demands under the domestic letter of credit. 
 6) Applicant’s confirmation: 

(a) Once the Applicant delivers the documents to the accepting bank and the accepting bank pays the money to the Applicant, the accepting bank will be entitled
to dispose of the full set of documents/goods under the domestic letter of credit or other security interests or property rights and interests to which it may be entitled in accordance with any applicable laws and regulations. The accepting bank
shall retain such rights and interests until its claims are fully satisfied. When the accepting bank is unable to obtain compensation for various reasons, it has the full right to make an absolute auction, resale and sale of the goods under the
documents delivered by the Applicant, and to be compensated by using the proceeds on a priority basis. 

  

			
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 (b) As for the seller’s negotiation subject to nonconformity between documents and certificates, the
accepting bank shall have the right to request the advance repayment by the Applicant under domestic letter of credit and other remedial measures as specified in the Contract, when the recovery of receivables in relation to the exported goods are
affected by any factor. 
 (c) If any refusal of payment, deferred payment or deduction from the payer of L/C results from any unconformity in the
documents, any loss of documents in the mail delivery, delayed delivery, telecommunications default, or any other reasons not caused by the accepting bank, the accepting bank may press for payment of principal and interest, expenses of and on funds
or the insufficiency or all losses. The accepting bank shall also be entitled to dispose of the documents and the goods under the seller’s negotiation under domestic letters of credit by itself at its discretion, compensated from the proceeds
and press for payment against the Applicant for the insufficiency. 
 7) Supplementary commitment: 

(a) The Applicant shall provide a timely explanation of the sales of the seller’s goods under the domestic letters of credit as required by the accepting
bank. 
 (b) The Applicant shall inform the accepting bank in writing of any serious difficulty in the sales of the goods under the domestic letters of
credit in a timely manner; 
 (c) The accepting bank has the right to determine the amount, method and time limit, and to collect interest from the
Applicant according to the interest calculation method stipulated by the negotiating bank; 
 (d) The Applicant undertakes to assume all responsibility
arising from any discrepancies or other problems in the documents submitted by the accepting bank. Whether the document discrepancies raised by the issuing bank or other banks are established, the Applicant agrees to the result of the accepting
bank, and the Applicant will assume the resulting risks; 
 (e) The fees and losses suffered by the accepting bank due to the receipt of the repayment of
the issuing bank or any measures taken to preserve the goods shall be borne by the Applicant; 
 (f) All matters concerning the seller’s negotiation
not covered are handled in accordance with the relevant provisions of the accepting bank; 
 (g) If the accepting bank simultaneously handles the
seller’s negotiation demands under the domestic letters of credit together with packaged loan business, the Applicant agrees that the loan borrowed for the seller’s negotiation will be used by the accepting bank first in the order set
forth in Article 8.6 to charge against the loan principal, interest and expenses provided by the Applicant for the packaged loan business and the balance will be paid to the Applicant. 

Article 22 Special clauses under the business of letter of guarantee/standby letter of credit 

22.1 Opening and modification of the letters of guarantee/standby letters of credit 

1) If the bank accepts the Applicant’s application for opening a letter of guarantee/standby letter of credit, the letter of guarantee/standby letter of
credit shall be issued as agreed by both parties. 
 2) The letter of guarantee/standby letter of credit to be issued by the bank shall refer to the
application submitted by the Applicant to the bank and the final content shall be subject to that set out in the letter of guarantee/standby letter of credit. 

3) The Applicant shall provide a margin guarantee when applying for the opening of the letter of guarantee/standby letter of credit. If the bank accepts the
Applicant’s application, the Applicant agrees that the bank has the right to transfer the corresponding margin into the margin account from the agreed margin debit account in accordance with the agreed margin ratio (margin = maximum amount
applied * margin ratio). If the currency of the letter of guarantee/standby letter of credit does not match that of the margin, the Applicant agrees that the bank may convert it according to the exchange rate applicable to the bank. Modification of
the letters of guarantee/standby letters of credit 
 Where additional margin is required due to the increase in the amount, this paragraph will apply. 

4) If the Applicant needs to amend the letter of guarantee/standby letter of credit, it shall submit a written application for amendment to the bank. 

5) If the amendment of the letter of guarantee/standby letter of credit involves the amount, currency, interest rate, time limit or others that the bank deems
necessary to increase the guarantee, the bank has the right to request the Applicant to increase the margin and/or require the Applicant to obtain the written consent of the Guarantor. Otherwise, the bank has the right to refuse to accept the
Applicant’s application for modification. 

  

			
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 6) The modification of the letter of guarantee/standby letter of credit does not change the Applicant’s
other rights and obligations in the Contract. 
 22.2 The Applicant agrees that in the period of validity of the letter of guarantee/standby letter of
credit, if the claim under the letter of guarantee/standby letter of credit occurs, and the beneficiary’s claim file meets the letter of guarantee/standby letter of credit after being reviewed by the bank, the bank has the right to make payment
by using the provision directly made by the Applicant. If the provision deposited by the Applicant is insufficient and the bank makes advance payment, once the amount claimed is paid, it constitutes the debts of the Applicant to the bank under the
Contract. The Applicant will assume interest penalty as agreed in Article 5.3. 
 22.3 Supplementary commitments 

1) Any commitments made by the bank in the relevant documents of the letter of guarantee/standby letter of credit, any restrictions on the rights, and any
expenses incurred shall be made at the request of the Applicant, and therefore any losses suffered by the bank shall be assumed by the Applicant. The bank has the right to directly deduct from any of the accounts opened by the Applicant in each
business outlet of Fubon Bank, without prior notice to the Applicant. 
 2) If the letter of guarantee/standby letter of credit is entrusted to other
banks, the Applicant agrees to bear all risks and responsibilities of the bank for the transfer under the transfer of the letter of guarantee/standby letter of credit. 

3) The Applicant shall immediately notify the bank of any circumstances affecting the bank’s guarantee liability, such as the basic contract on which the
letter of guarantee/standby letter of credit is based, the execution, modification, alteration or termination of the underlying transaction. 
 4) The
Applicant shall cooperate with the bank to handle the relevant procedures at the time of performance under external guarantees. 
 5) During the validity
period of the letter of guarantee/standby letter of credit, if the claim thereunder occurs, the bank may exercise absolute and final discretion to and independently decide whether to make payment or refuse to pay the beneficiary’s claim,
without obtaining the written or verbal consent of the Applicant, and without considering whether to cite the Applicant’s defense against the beneficiary or other claimants under the basic contract. Moreover, the bank has the right to directly
make payment by using the provision or margin deposited by the Applicant in accordance with the business application. The bank is exempted from the truth, accuracy and validity of the claim file submitted by the beneficiary under the letter of
guarantee/standby letter of credit. 
 6) If the provision deposited by the Applicant is insufficient and the bank makes advance payment, once the amounts
demanded are paid, it constitutes the debts of the Applicant to the bank and the Applicant shall promptly pay off the debts. 
 7) The Applicant shall
cooperate with the bank to handle the relevant procedures at the time of performance under external guarantees, and compensate the bank for losses caused by the inability to obtain the approval of the foreign exchange administration in a timely
manner. The risk of loss, delay, error, damage, etc. in the process of postal, telecommunications transmission or other transmission of business correspondence and documents under the letter of guarantee and the standby letter of credit and the risk
arising from the use of third party services by the bank will be borne by the Applicant. 
 8) The Applicant shall use the limit under the letter of
guarantee/standby letter of credit in accordance with the purposes stipulated in the Contract. The funds under the letter of guarantee/letter of credit issued will not be directly or indirectly through any three parties transferred back for domestic
use in the form of borrowing, equity investment or securities investment. 
 9) If the letter of guarantee/standby letter of credit has no express lapse
date, is governed by foreign laws or practices, or has no express guarantee amount, etc., the Applicant agrees to compensate for all risks, liabilities and losses that may be caused to the bank. 

  

			
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 Article 23 Special clauses under the business of overseas agent payment 

23.1 Overseas agent payment means the business that the bank entrusts an overseas agent bank to pay the corresponding amount to the designated payee for the
payables, and promises to repay the principal, interest, tax and related expenses paid by the agent bank in full and on time. The Applicant agrees that the claim-debt relationship between the Applicant and the bank is constituted when the overseas
agent payment makes payment as entrusted by the bank. 
 23.2 The fees charged by the correspondent agent bank for the overseas payment service will be
charged separately according to the agent bank’s charging standard. 
 23.3 The accepting bank has the right to choose the agent bank. 

23.4 If the Applicant fails to repay the principal, tax and related expenses of the agent bank in full and in time, the bank has the right to charge the
penalty interest in accordance with Article 5.3 for the above principal and interest, taxes and related expenses. 
 23.5 Matters not covered by this
clause refer to Article 19 on import bill advance. 
 Article 24 Right to sell 

24.1 In the event of any event of default as described in Article 12 of the General Provisions of Chapter I, or where the bank considers it appropriate after
considering the achievable value of any or all of the goods or documents referred to in the Contract, the bank may, at its sole discretion, consider to sell or otherwise dispose of such goods or documents in a suitable manner, without making any
payment or notifying any person, regardless of whether the Applicant’s contingent liabilities or other liabilities to the bank actually expire or not, except expressly prohibited by applicable laws. The bank or any of its agents will not be
liable for any loss that may occur in the exercise of the above right to sell or dispose and the bank will not be held liable for any action or omission by any broker, auction house or other persons employed for any such sale or disposal. 

24.2 Any proceeds of sale or disposal, after payment of all expenses and other expenses related thereto and any previous claims, will be used to pay the
amount owed by the Applicant at the time or to become owed to the bank. The certificate duly signed by any two authorized officers of the bank with respect to the exercisable right to sell or dispose is the final proof of the fact that any goods or
documents may be transferred to any buyer or other person. The Applicant shall compensate the bank for any claims that the buyer or other person may have against the bank for any defects in the ownership of the goods or documents by the Applicant.

 (Where the special terms of the credit business in Chapter II are inconsistent with the general provisions of Chapter I, Chapter II will prevail.) 

  

			
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 Part II Special Terms 

Article 25 Amount of the comprehensive credit line and term 

25.1 The comprehensive credit line provided by the bank to the Applicant under the Contract is equivalent to (currency) RMB (in figures) 5,000,000 (in words:
RMB Five Million Only). 
 25.2 The term of the total credit line hereunder is from September 17, 2018 to September 30, 2021. 

Article 26 Miscellaneous 
 26.1 Specific credit line and
conditions hereunder are subject to the Bank Credit Notice (No.069382502-01). 
 26.2 Alternative clauses 

☑ None. 
 ☐ As regards to any credit contract, loan
contract or similar agreement originally signed by the Applicant and the bank before the effective date hereof (including any supplements, amendments, changes and additions to it from time to time, the “original credit contract”), the
Contract serves to renew and change the original credit contract and will replace it as of the effective date hereof. 
 However, if the specific business
under the original credit contract still has an outstanding balance, it shall be deemed to occupy the amount of comprehensive credit under the Contract. 

☐ As regards to any contract (No.XX) signed by the Applicant and the bank (including any supplements, amendments, changes and additions to it from time
to time, the “original credit contract”), the Contract serves to renew and change the original credit contract and will replace it as of the effective date hereof. However, if the specific business under the original credit contract still
has an outstanding balance, it shall be deemed to occupy the total amount of comprehensive credit under the Contract. 
 26.3 Notwithstanding Articles
5.1.1 and 5.1.2, when the Applicant applies for the fixed asset loan business, and major changes take place, including but not limited to market interest rate fluctuations and other market changes, regulatory indicators adjustment, and changes in
industry conditions, changes in laws and regulations, changes in the country’s currency and/or credit policies, and changes in the project needing funds, the Bank has the right to notify the Applicant from time to time of adjusting the credit
interest rate. If the Applicant disagrees with the adjustment, it shall, within ten working days after the bank issues the interest rate adjustment notice, send a written notice of disapproval to the bank, and all the credits it has used expires in
advance on the day next to the date when the bank receives the foregoing written notice (hereinafter referred to as “early due date”), in which case, the Applicant shall pay all debts to the bank before the early due date. Within ten
working days from the date of the issuance of the interest rate adjustment notice by the bank, the interest on the credit used by the Applicant will be calculated according to the interest rate before the bank’s adjustment; from the day next to
the expiration of the said ten working days, according to the bank’s adjusted interest rate. If the bank does not receive the Applicant’s notice on disagreement with the adjustment of interest rate within ten working days after the
interest rate adjustment notice, the Applicant will be deemed to have agreed to the adjustment. 
  

			
	26.4	 	 
	 	 	 
	 	 	 

  

			
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 (The remainder of this page is intentionally left blank) 

Signature Page 
 The parties hereby
confirm that, at the time of signing the Contract, the bank has explained in details all the terms (especially the part in black bold), which are fully discussed by both parties. The Applicant has no doubt about the terms of the Contract and has an
exact and unambiguous understanding of the legal meaning of the parties’ rights and obligations, limitations on liability or exemption or authorization clauses. 

Applicant (official seal): Shanghai Tonggou Information Technology Co., Ltd. (seal)  

Legal representative or authorized agent (signature and seal): Wang Wei (seal) 

Bank (signature and seal): Fubon Bank(China) Co., Ltd., Shanghai Century Avenue Sub-Branch (seal) 

Legal representative or authorized agent (signature and seal): Su Hang (seal) 

Signed in: Pudong New District, Shanghai 
  

					
		 	Guaranteed by	  	 Wang Jing (seal)

Niu Xiaoting (seal)

		 	Guaranteed on	  	9/25/2018

  

			
	Contract version No.: FB201701 (company)	  	Page 35/40

 Appendix: 

Bank Credit Notice of Fubon Bank (Format) 

Numbering: 
 Dear , 

Based on the application materials provided by you to us, we agree to grant you a non-commitment credit line equal to
the (currency) (amount), as shown in the table below. This bank credit notice is an integral part of the comprehensive credit line contract (No.XX, including any supplements, amendments, changes and additions to it from time to time). If this notice
is inconsistent with the comprehensive credit line contract, the former shall prevail. 
  

							
	Sub-limit I:
				
	Name:	  		  		  	
				
	Purpose:	  		  		  	
				
	Currency and amount:	  		  		  	
		
	Revolving or not:	  	☐ Revolving ☐ Non-revolving
		
	Maximum term for each credit:	  	No later than.
		
	Guaranteed by:	  	 1.  The promissory guarantee equivalent to ___ provided by ___ .

 
 2.  Joint liability guarantee
provided by ___ (the maximum guarantee contract/joint guarantee/letter of guarantee).
  

3.  ___ deposit pledge guarantee provided based on the risk factor of our financial derivative
products.
  
 4.  ___ deposit pledge
guarantee/overseas deposit pledge guarantee/Hong Kong deposit pledge/financial products pledge guarantee in an amount of ___ provided by .
  

5.  the standby letter of credit in an amount of ___ issued by the financial institution approved by
us.
  
 6.  pledge guarantee for
accounts receivable that is established by ___ for the benefit of us on the accounts receivable claims.
  

7.  pledge guarantee for accounts receivable that is established by ___ for the benefit of us on the rent
receivable claims.
  
 8.  the bank
acceptance bill / commercial acceptance bill pledge guarantee in an amount of ___ provided by ___.
  

9.  The following collateral guarantees.

				
	 	  	 No.
	  	 Type
	  	 Location

		  		  		  	
		  		  		  	

  

			
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	Terms of payment:	  	 ☐ To be reviewed on an individual basis. The entrusted payment standard is handled in accordance with our provisions.

 
 ☐ Loan funds will be paid by using the entrusted payment.

 
 ☐ The loan funds individually exceeding 5% of the total investment amount of the
project or in an amount of RMB 5 million (or the equivalent in foreign currency) shall be paid by the entrusted payment method. Other loan funds will be self-paid.
  

☐
Others:                                        
                    
  

☐ Not applicable
  

	Annual interest rate:	  	 1. For Renminbi quotas:
  

☐ Floating interest rate: (up/down) or (plus/minus) % based on the applicable XX-year benchmark loan interest
rate announced by the People’s Bank of China on the withdrawal date. If the above interest rate is inconsistent with the application, the final interest rate in the application accepted by us will govern. If the People’s Bank of China
adjusts the benchmark interest rate, the credit interest rate will be adjusted accordingly from the date of interest rate adjustment (as defined below), without further notice to you.

 
 Interest rate adjustment date: Unless you and the Bank otherwise agree, for the
short-term ( within one year (included) withdrawal, the interest rate adjustment date is the first day of the month next to the effective date of the interest rate adjustment announced by the People’s Bank of China; for the medium and long-term
(more than one year (excluded)), the interest rate adjustment date is January 1 of the following year when the interest rate adjustment announced by the People’s Bank of China takes effective.

 
 ☐ Fixed interest rate: (up/down) or (plus/minus) % based on the applicable XX-year benchmark loan interest rate announced by the People’s Bank of China on the withdrawal date unless we agree to make adjustment. If the above interest rate is inconsistent with the application, the final
interest rate in the application accepted by us will govern; provided however that, the interest rate set forth in the application may not be lower than the abovementioned rate. Each credit rate is not affected by the adjustment of the benchmark
interest rate that may occur during the single credit period.
  
 ☐ Relatively
floating interest rate: not lower than (up/down) or (plus/minus) % based on the applicable XX-year benchmark loan interest rate announced by the People’s Bank of China on the withdrawal date and the final
interest rate in the application accepted by us will govern. If the People’s Bank of China adjusts the benchmark interest rate, the credit interest rate will be adjusted accordingly from the date of interest rate adjustment (as defined below),
without further notice to you. However, if the People’s Bank of China adjusts the benchmark interest rate, making the interest rate lower than the agreed interest rate, the agreed interest rate will remain unchanged regardless of changes in the
benchmark interest rate of the People’s Bank of China.
  
 Interest rate adjustment
date: Unless you and the Bank otherwise agree, for the short-term ( within one year (included) withdrawal, the interest rate adjustment date is the first day of the month next to the effective date of the interest rate adjustment announced by the
People’s Bank of China; for the medium and long-term (more than one year (excluded)), the interest rate adjustment date is January 1 of the following year when the interest rate adjustment announced by the People’s Bank of China takes
effective.

  

			
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		  		  	 ☐ To be determined based on the specific contract
  

☐ Not applicable
  

2. For foreign currency quotas:
  

☐ the annual interest rate may not be lower than the interest rate on the withdrawal date (term and interest rate type) plus/minus % (tax included/tax
excluded)/the bank’s foreign currency loan interest rate. The final interest rate is subject to the application accepted by the bank.
  

☐ Not applicable
  

	Interest-bearing methods:	  	☐ Renminbi	  	 ☐ On a monthly basis ☐ On a quarterly basis ☐ Upon expiration ☐ Based on specific contract

 
 ☐ Direct deduction when use ☐ Others:

  

			
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		  		  	 ☐ Not applicable
  

(For definitions, see Section 5.2.1 of the comprehensive credit line contract)

 

		  	☐ Foreign currency	  	 ☐ Upon expiration ☐ Direct deduction when use ☐ Others:    

 
 ☐ Not applicable

 
 (For definitions, see Section 5.2.1 of the comprehensive credit line contract)

 

	Repayment	  	 1. Ways to make repayment:
  

☐ the principal will be repaid upon expiration with the interest paid on schedule, subject to the interest-bearing methods described in the sub-limit;
  
 ☐ Matching the principal
repayment;
  
 ☐ Average capital plus interest;

 
 ☐ Subject to the following repayment scheme, with the interest-bearing method
being listed in the “interest-bearing method”

						
	 	  	 	  	 	  	 Repayment date
	  	
Principal to be repaid
(currency and amount)
	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
		  		  	 ☐ Not applicable
  

Regardless of which of the above repayment methods is selected, you are required to repay the full principal and interest on the expiration date of the single
credit.
  
 2. Advance repayment: If you need to repay in advance, you must notify us in
writing 15 working days in advance, and obtain our consent before repayment. You should pay liquidated damages at XX% of the amount repaid in advance at the same time.
  

3. Repayment reservation: ☐ Not applicable. ☐ Applicable, the Applicant shall pay liquidated damages at XX% of the amount repaid in advance on the
repayment date.
  

	Expenses:	  	 1) Fee (for reference): .
  

The final rate is based on the fees stated in the application/accounts receivable pledge agreement/ factoring agreement accepted by the bank.

 
 2) Other bank fees and other charges uncovered will be implemented by reference to our
announced rate.
  

	Other pre-lending conditions:	  		  		  		  	
	Other interim/post loan conditions:	  		  		  		  	

 1. The outstanding total balance (whether current or future, and whether actual or contingent) under the Bank Credit Notice
shall not exceed (currency) (amount) _________ . 
 2. At any time, the outstanding total balance under sub-limit XX and sub-limit XX (whether current or
future, and whether actual or contingent) under the Bank Credit Notice shall not exceed (currency) (amount) _________ . 
 3. At any time, the outstanding
total balance under sub-limit XX and sub-limit XX under the Bank Credit Notice (No.XX) sent by us to XX (whether current or future, and whether actual or contingent) under the Bank Credit Notice shall not exceed (currency) (amount) _________ . 

  

			
	Contract version No.: FB201701 (company)	  	Page 39/40

 4. At any time, the outstanding total balance under sub-limit XX (whether current or future, and whether
actual or contingent) under the Bank Credit Notice shall not exceed (currency) (amount) _________ . 
 Compliance control: 

You are kindly advised to complete the relevant legal documents and procedures within six months since XX. Otherwise, we have the right to ask you to update
your credit standing for re-examination before the quota is used. TOC 
 The notice is made in XX and you shall
promptly sign the reply letter together with this notice and serve them on us. The credit extension business as set out herein can be applied from the date of delivery of this notice to us. Please note that the relevant legal documents and the
relevant procedures shall be completed and the loan conditions, be improved, and the application for specific credit shall be made to us according to the comprehensive credit contract and this notice. If the provisions in the application accepted by
us are inconsistent with the notice, the business application accepted by us shall prevail. 
 The notice is used as a change to the Bank Credit Notice
(No.XX) and will replace the original content. 
 Fubon Bank Co., Ltd.     

Date 
  

 
 Reply to the Bank Credit Notice

 To: Fubon Bank Co., Ltd.     

The Company has received the Bank Credit Notice (No.XX) sent by you. The Company confirms that it knows the credit line granted to the Company and agrees to
accept the above credit conditions. The Company will complete legal documents and the relevant procedures and improve the loan conditions as required by you before using the credit and make an application for specific credit according to the
comprehensive credit contract and this notice. 
 Company (common seal): 

Legal representative or authorized agent (signature and seal): 

Date:             Date 

  

			
	Contract version No.: FB201701 (company)	  	Page 40/40

 Wang Ying 

Contract No.: 1809-069382502-01-G1 

 
 

 
 Maximum Guarantee Contract 

Contract version number: FB201603 (Corporate) 

 This Contract, dated September 25, 2018, was made and entered into by and between by the following
parties: 
 Guarantor: Wang Ying 
 Domicile (Address): Room 302,
3/F, 1000 Tianyaoqiao Road, Xuhui District, Shanghai 
 Tel.: 61132270    Fax: ____________________ 

(For an institution) Legal representative/person in charge: ______________ 

(For a natural person) Certificate Type: __________ Certificate Number: _______________ 

Creditor: Fubon Bank (China) Co., Ltd. Shanghai Century Avenue Branch 

Domicile (Address): 1168 Century Avenue, Pudong New Area, Shanghai 

Legal representative/person in charge: Su Hang 
 Tel.: 021-20619888    Fax:____________________ 

  

			
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 In order to ensure the smooth performance of the main contract (hereinafter referred to as the main
contract) stipulated in Article 13, and ensure the realization of the creditor’s rights, the guarantor is willing to provide the maximum joint and several liability guarantee for the realization of a series of the creditor’s rights under
the main contract. The parties, intending to be legally bound hereby, entered into this Contract upon consensus through negotiation in accordance with relevant laws, regulations and rules. 

Part I General Terms 
 Article 1 The
secured main creditor’s right 
 1.1 The main creditor’s right secured hereunder is each creditor’s right under the main contract. The
specific type, amounts, term, interest rate, and debt performance period of each single business under the main contract shall be determined by the creditor and the debtor in the specific business under the main contract. 

1.2 The maximum principal amount of the creditor’s right secured by guarantee by the guarantor hereunder is set forth in Article 14 hereof. The
maximum principal amount of the creditor’s right only refers to the ceiling of the principal balance of the secured debt (as defined in Article 2.1). Given that the principal of the secured debt does not exceed the said ceiling, the guarantor
agrees to assume joint and several liability guarantee for all payables within the scope of guarantee stated in Article 2 hereof. The guarantor shall not claim no guarantee liability solely on account of the fact that the total amount of all
payables within the scope of guarantee referred to in Article 2 hereof exceeds the maximum principal amount of the creditor’s rights as specified in Article 14 hereof. 

Article 2 Scope of Guarantee 
 2.1 The guarantor’s
guarantee covers any debts payable by the debtor to the creditor at any time now or in the future under the main contract, including but not limited to the principal, interest, compound interest, penalty interest, liquidated damages, damages, and
other amounts payable by the debtor to the creditor (including but not limited to related handling fees, miscellaneous fees and other expenses), the expenses incurred by the creditor for realization of the creditor’s rights (including but not
limited to litigation fees, arbitration fees, security fees, enforcement fees, attorney’s fees, evaluation fees, auction fees, notary fees, announcement fees, service fees, etc.) and other losses (hereinafter referred to as the “secured
debt”). 
 2.2 The single creditor’s right incurred during the determination period (as defined in Article 13) of the main creditor’s
right, even if its expiry date exceeds the determination period of the main creditor’s right, or the contingent creditor’s right incurred during the determination period of the main creditor’s right, even if the time of its conversion
into the actual creditor’s right exceeds the determination period of the main creditor’s right, fall within the scope of guarantee hereunder. 

2.3 The guarantor agrees that in the event of an increase in the principal, interest, penalty interest, and compound interest payable by the debtor as a
result of the creditor’s adjustment of the interest rate, interest accrual or settlement method according to the contract or the changes in the national interest rate policy, or the change in the principal amount of the debt actually payable
due to changes in exchange rate, the increase shall also fall within the scope of guarantee. 
 Article 3 Mode of Guarantee 

3.1 The guarantee under this contract is joint and several liability guarantee. If there is more than one guarantor under the main contract, each guarantor
shall bear joint and several liability for the creditor with respect to the entire secured debt. In case of any event of default under the main contract on the part of the debtor, the creditor shall have the right to directly request any guarantor
to assume the guarantee liability within the scope of guarantee. 
 3.2 Where the creditor declares earlier maturity of the debtor’s debt according
to the main contract, the guarantor shall assume the guarantee liability ahead of time. 

  

			
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 3.3 The guarantor acknowledges that if the debtor fails to perform its debts as agreed in the main
contract, regardless of whether the creditor has any other security interest (including but not limited to guarantee, mortgage, pledge, letter of guarantee and other forms of security) in the creditor’s rights under the main contract, the
creditor shall have the right to require the guarantor to assume the guarantee liability within the scope of guarantee as stipulated herein, without first exercising the other security interest. The guarantor hereby expressly waives the defense
against the claim of first exercising the real security provided by the debtor. If the creditor waives its security interest over the collateral (including the collateral provided by the debtor) or other guarantors, the Guarantor shall still assume
full liability for guarantee as stipulated herein. 
 3.4 The guarantee established herein, as a continuing guarantee for the debtor’s repayment
and performance of all the obligations under the main contract, shall not be released by reason of partial payment or repayment of the secured debt, in which case the guarantor shall still assume guarantee liability for the outstanding debt within
the scope of guarantee according to this Contract. 
 Article 4 Guarantee Period 

4.1 The guarantee period is two years from the date on which each fund raised under the main contract expires, the date on which the creditor advances the
payment, the maturity date of the bill or the similar debt performance deadline (collectively referred to as the “debt performance deadline”). 

4.2 Where the main contract stipulates repayment in installments, the Guarantor shall bear the guarantee liability for the repayment obligation in each
installment under the main contract respectively. The guarantee period shall be from the expiration of the debt performance deadline of each installment until two years after the expiration of the debt performance deadline of the last installment.

 4.3 “Maturity” and “expiration” referred to herein include the case where the creditor declares earlier maturity. Where the creditor
declares earlier maturity of the main creditor’s right, the date of earlier maturity announced by the creditor shall be the expiry date of the debt performance deadline. 

4.4 The guarantor agrees that if the creditor and the debtor reach an agreement on extension of the debt performance deadline, the guarantee period shall
terminate two years after the expiry date of each new debt performance deadline specified in the extension agreement. 
 Article 5 Performance of
Guarantee Liability 
 5.1 Provided that the creditor submits to the Guarantor a debt collection notice stating the guarantee contract number and the
amount of the main debt, the Guarantor shall immediately perform the liquidation obligation upon receipt of the notice. 
 5.2 Where the Guarantor shall
perform the guarantee liability hereunder, the creditor shall have the right to deduct any amount from any account opened by the Guarantor with any business office of Fubon Bank (China) Co., Ltd. for liquidation of the debts due, without giving
notice to the Guarantor. Even if all or part of the aforesaid amount has been deposited for a fixed period of time, or it requires a certain period of notice, and the fixed period or notice period has not expired or such notice has not been issued,
the above rights of the creditor shall not be restricted or affected in any way, and the creditor is not required to assume any liability or make any compensation to the Guarantor for deducting such undue amount. Unless otherwise agreed by the
parties, the creditor shall have the right to determine the liquidation order with the proceeds from deduction. If the currency of the proceeds from deduction is inconsistent with that of the amount to be liquidated, it shall be converted at the
exchange rate applicable to the creditor on the same day of deduction, and the exchange rate risk shall be borne by the Guarantor. When the creditor deems it necessary, the Guarantor shall execute all documents and take all actions as necessary to
authorize the creditor to deal with the claim and recourse of all due creditor’s right of the Guarantor; and execute all documents and take all actions as necessary to create a pledge in the proceeds therefrom for the creditor. 

5.3 The main creditor’s right shall be determined upon the occurrence of any of the following: 

(1) the determination period of the main creditor’s right expires; 

(2) Any event of default set forth herein occurs and the creditor decides to determine the creditor’s right; 

  

			
	Contract version number: FB201603 (Corporate)	  	Page 3 of 11

 (3) The creditor declares earlier maturity of the entire secured debt according to the main contract or
applicable laws; 
 (4) Other circumstances where the secured debt shall be determined as prescribed by law. 

Any and all secured debts that are outstanding at the time of determination of the main creditor’s right, regardless of whether the performance deadline
of such debt has expired or is conditional, shall fall within the scope of the main creditor’s right. At the time of determination of the main creditor’s right, any and all amounts set forth in Article 2, regardless of whether or not they
have occurred then, shall fall within the scope of the main creditor’s right. 
 5.4 While exercising its rights hereunder in accordance with law, the
creditor shall not be liable for any loss incurred thereby to the Guarantor, unless such loss is attributed to its intentional or gross negligence. 
 5.5
The creditor shall have the right to confirm the liquidation order according to the main contract with respect to the proceeds from the creditor’s execution of the guarantee after payment of the execution fee in priority. 

Article 6 Representations and Covenants 
 6.1 The
Guarantor represents as follows: 
 (1) If the Guarantor is an institution (meaning a legal person or an unincorporated organization, referred to as
“institution” herein), the Guarantor is duly registered and existing, and has the full capacity for civil right and civil conduct required to execute and deliver this Contract; if the Guarantor is a natural person, the Guarantor has the
full capacity for civil right and civil conduct required to execute and deliver this Contract. 
 (2) The Guarantor has carefully read and fully understood
the content of this Contract, the execution and performance of this Contract is based on the Guarantor’s manifestation of genuine intention; the execution and performance of this Contract will neither contravene the laws and regulations
governing the Guarantor, nor violate any agreement, contract, and other legal documents binding upon the Guarantor. 
 (3) This Contract constitutes a
legal, valid and legally binding obligation of the Guarantor. The guarantee set up hereunder is unconditional and is not subject to any other priority. 

(4) If the Guarantor is an institution, the Guarantor has obtained legal and valid authorization in accordance with its articles of association or other
internal management documents; the Guarantor has obtained or will obtain all relevant approvals, permits, filings or registrations required for execution and performance of this Contract. 

(5) All documents, financial statements, vouchers and other materials submitted by the guarantor to the creditor hereunder are true, complete, accurate and
valid. 
 (6) The guarantor undertakes to submit any documents and materials required at any time at the request of the creditor. The guarantor undertakes
that all documents and materials submitted to the creditor are accurate, true, complete and valid, and the documents submitted in photocopies are consistent with the original. 

(7) The guarantor has not concealed from the creditor any event that may affect its financial condition and ability to perform the contract. In the event of
any circumstances that may affect the guarantor’s financial condition and ability to perform the contract, including but not limited to transfer of major assets or equity transfer, incurring significant liabilities, and involvement in major
litigation or arbitration cases, or loss of civil capacity, etc, the guarantor shall notify the creditor on the date of occurrence or on the date when being aware that it will occur. 

(8) Where the debt under the main contract is not fully settled after the guarantor’s performance of the guarantee liability, the guarantor covenants
that its claim (including pre-exercise) of the right of subrogation or recourse against the debtor or any other guarantor shall not harm the creditor’s interests in any way and agrees that the liquidation
of the debt under the main contract takes precedence over the realization of the guarantor’s right of subrogation or recourse. 

  

			
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 (9) The guarantor covenants to supervise the use of the debt by the debtor, and the guarantor accepts and
cooperates with the creditor in the verification of its qualification, capacity for performing vicarious liability, credit standing and investment. 
 (10)
The guarantor is willing to assume the guarantee liability with all the property owned. Before the settlement of the secured debt, the guarantor covenants not to provide guarantee to any third party without the written consent of the creditor. If
the guarantor’s property then is not sufficient to cover the guarantee liability, the guarantor undertakes to continue to be liable for liquidation of the insufficiency. 

(11) The guarantor is not involved in any economic, civil, criminal, administrative proceedings, or similar arbitral proceedings that may have a material
adverse effect on it, nor does it have any circumstances that could lead to its involvement in such proceedings or similar arbitral proceedings. 
 (12) No
important assets of the guarantor is subject to any enforcement, seizure, detention, freezing, lien, or regulatory measures, or is under any circumstances that may lead to such measures. 

6.2 If the guarantor is an institution, the guarantor further covenants as follows: 

(1) None of the guarantor and any of its shareholders and affiliates has been involved in any liquidation, bankruptcy, reorganization, consolidation (merger),
spinoff, restructuring, dissolution, capital reduction or similar legal proceedings, and no circumstances that may lead to such legal proceedings has occurred to them. 

(2) Submit the financial statements (including but not limited to annual reports, semi-annual reports, quarterly reports and monthly statements) and other
relevant materials to the creditor on a regular or timely basis as required by the creditor. 
 (3) If the guarantor has entered into or will enter into a
counter-guarantee agreement or similar agreement with the debtor with respect to its guarantee obligations hereunder, such agreement will not prejudice any rights of the creditor hereunder. 

(4) The guarantor cannot undergo merger, spinoff, capital reduction, equity transfer, foreign investment, substantial increase in debt financing, transfer of
major assets and claims, and other matters that may adversely affect the guarantor’s guarantee ability unless the prior consent of the creditor is obtained. 

(5) Under any of the following circumstances, the guarantor shall promptly notify the creditor: 

a) any change in the articles of association, business scope, registered capital, and legal representative; 

b) changing the business mode by carrying out any form of joint operation, establishing joint venture with, cooperating with foreign investors,
contracting, restructuring, institutional shift, planned listing or otherwise; 
 c) being involved in a major litigation or arbitration, or
having the property or collateral being seized, detained or regulated, or creating a new security interest in the collateral; 
 d)
discontinuation of business, dissolution, liquidation, suspension of business for rectification, being revoked, being revoked of business license, and (being filed) filing for bankruptcy; 

e) Any of its shareholders, directors and current officers is suspected of being involved in major cases or economic disputes; 

f) an event of default under any other contract; 

g) running into trouble in operation and deterioration of financial condition. 

6.3 If the guarantor is a natural person, the guarantor represents and covenants as follows: 

  

			
	Contract version number: FB201603 (Corporate)	  	Page 5 of 11

 (1) The guarantor accepts the creditor’s supervision and inspection of the financial status of the
guarantor, and assists and cooperates with the creditor in this regard. The guarantor shall submit the credit reference documents, including but not limited to individual income tax return, deposit certificate, personal credit report, etc., as
required by the creditor. 
 (2) The guarantor has not concealed from the creditor the significant liabilities that have been borne as at the date of
execution of this Contract. 
 (3) This Contract is not terminated or adversely affected by the guarantor’s death. The guarantor voluntarily assumes
the liability for satisfaction with the entire estate. The guarantor’s estate administrator and inheritor are fully bound by the guarantee contract. 

(4) Before fulfillment of the debt under the main contract, the guarantor shall not maliciously transfer or damage the personal property. 

6.4 The guarantor’s representations and undertakings above shall remain true and correct until full settlement of the secured debt, and the guarantor
will submit further documentation as required by the creditor from time to time. 
 Article 7 Event of Default and Handling 

7.1 Any of the following matters shall constitute an event of default event on the part of the guarantor hereunder: 

(1) The guarantor fails to (or expressly indicates or indicates by act it will not) duly perform the guarantee liability on time and in full
as stipulated herein ; 
 (2) Any document, information provided by the guarantor or any of the representations, statements, or
covenants made by it is untrue, inaccurate, incomplete, illegal or invalid, or is false, fraudulent, contains material omission, material concealment or misleading information; 

(3) Occurrence of any circumstance that may affect the guarantor’s financial status and ability to perform the contract , including but
not limited to the transfer of major assets or equity, undertaking material liabilities, involvement in major litigation or arbitration or enforcement cases, and material adverse changes in financial condition, generation of unfavorable credit
records, loss of civil capacity, disputes or incidents involving changes in marriage, support/dependency/foster relationship relationships, or division of community property; 

(4) If the guarantor is an institution, the guarantor terminates business or dissolves, is revoked or goes bankrupt; 

(5) If the guarantor is a natural person, the guarantor is deceased, declared deceased, missing or declared missing, or becomes a person
with limited capacity for civil conduct or a person without civil capacity; 
 (6) The guarantor becomes unemployed, undergoes
business changes, is subject to administrative, criminal enforcement measures, punishment or other criminal sanctions; 
 (7) This
Contract is made invalid or is revoked for reasons attributable to the guarantor; 
 (8) other events or acts that have or may have a
material adverse effect on the main creditor’s right or security interest on the part of the guarantor; 
 (9) violation of other
provisions herein or occurrence of any other event that will affect its rights hereunder as the creditor considers on the part of the guarantor. 

7.2 Upon occurrence of any event of default set forth in the preceding paragraph, the creditor shall have the right to take the following measures
separately or simultaneously depending on the circumstances: 
 (1) require the guarantor to correct its breach of contract within a
time limit and fulfill the guarantee liability in a timely manner; 

  

			
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 (2) suspend or terminate the acceptance of the business application under other contracts
between the guarantor and the creditor or other business offices of Fubon Bank (China) Co., Ltd. in whole or in part; suspend or terminate the issuance and processing of the loans that have not yet been issued, and trade financing that has not yet
been processed in whole or in part; 
 (3) Declare immediate maturity of the outstanding credit principal and interest and other
payables under other contracts between the guarantor and the creditors or other business offices of Fubon Bank (China) Co., Ltd. in whole or in part, and require the debtor to repay the debts owed; 

(4) terminate or rescind other contracts between the guarantor and the creditor in whole or in part; 

(5) require the guarantor to compensate for any and all direct and indirect losses caused to the creditor by its breach of contract;

 (6) Take the deduction measures specified in Article 5.2 hereof; 

(7) Determine the main creditor’s right as stipulated in Article 5.3 and require the guarantor to perform the guarantee liability
hereunder; 
 (8) require the guarantor to provide other guarantees recognized by the creditor; 

(9) Other measures as the creditor deems necessary. 

Article 8 Relationship with the Main Contract 
 8.1 The
rights and interests of the creditor hereunder shall not be affected in any way by any grace, extension granted by the creditor to the debtor, any revision, modification or substitution made by the creditor and the debtor to any terms of the main
contract or the specific contracts or other business documents under the main contract (including but not limited to the change of the terms concerning type, amount, currency, term, interest rate, exchange rate, use, repayment method, rights and
obligations of the credit business). If any of the above circumstances occurs, it shall be deemed that the guarantor’s prior consent has been obtained. The guarantor shall assume the guarantee liability for the secured debt after the change,
and the guarantor shall not be released from its guarantee liability, without further consent from the guarantor. Where the main contract provides for issuance of a letter of credit, a letter of guarantee or a standby letter of credit by the
creditor to the debtor, the creditor and the debtor may modify the letter of credit, letter of guarantee or standby letter of credit under the main contract without obtaining the consent of the guarantor or otherwise giving notice to the guarantor.
Such modification is deemed to have been approved by the guarantor beforehand and shall not mitigate or release the guarantor from the guarantee liability. However, where the creditor and the debtor agree upon extension of the valid term of the
credit line under the main contract or increase of the amount of the credit line under the main contract without the consent of the guarantor, the guarantor shall only assume the guarantee liability for the debt under the main contract before the
change in accordance with this Contract. If the creditor adjusts the fee or rate and the interest accrual method according to the terms of the financing documents or the changes in the national interest rate policy, resulting in an increase in the
interest and expenses payable by the debtor, the increase shall also fall within the scope of guarantee on the part of the guarantor. 
 8.2 The
guarantee of this Contract is an unconditional and irrevocable guarantee, and shall not be affected by any agreement or document signed between the debtor and any unit, shall not be affected by any contract, agreement, guarantee, tacit agreement,
dispute or controversy between the debtor and the creditor or between the guarantor and the debtor, and shall not change due to the merger, spinoff, reorganization into joint stock company, capital increase/decrease, joint venture, association,
renaming, bankruptcy, insolvency, loss of business qualification, change of the organization’s articles of association on the part of the debtor. 

Article 9 Reservation of Rights 
 9.1 If a party fails to
exercise some or all of its rights hereunder, or fails to require the other party to perform and assume some or all of its obligations and responsibilities, it shall not constitute the party’s waiver of such rights or exemption of such
obligations and responsibilities. 

  

			
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 9.2 Any grace, extension or moratorium on the rights hereunder granted by one party to the other party shall
not affect any of its rights under this Contract and laws and regulations, nor shall it be deemed a waiver of such rights. 
 Article 10 Governing Law
and Dispute Resolution 
 10.1 This Contract is governed by the laws of the People’s Republic of China (excluding Hong Kong Special Administrative
Region, Macao Special Administrative Region and Taiwan). 
 10.2 Any dispute concerning this Contract shall be subject to the jurisdiction of the competent
people’s court as stipulated in the main contract. Any other forum selected may be agreed upon in the supplementary provisions. For the duration of the dispute, the parties hereto shall continue to perform the terms not in dispute. If either
party files a lawsuit in the court with respect to any dispute, the litigation cost, the reasonable attorney’s fee incurred by the other party and other expenses arising from the proceedings (including but not limited to property preservation
fee, travel expenses, notarization fee, translation fee, evaluation and auction fees, execution fee, etc.) shall be borne by the defaulting party. 

Article 11 Entry into Force, Modification and Rescission of the Contract 

11.1 This Contract shall enter into force upon signing by the guarantor and the creditor. 

11.2 This Contract may be modified or revised in writing as agreed upon by the parties. Any modification or revision shall constitute an integral part of this
Contract. 
 11.3 Except as otherwise provided by laws and regulations or otherwise agreed by the parties, this Contract may not be terminated until all the
rights and obligations hereunder have been fulfilled. 
 Article 12 Miscellaneous 

12.1 The headings of the clauses and sub-clauses of this Contract are inserted for convenience only and shall not
affect the meaning and interpretation of any clause hereof. 
 12.2 The valid certificate of the creditor’s right hereunder shall be subject to the
accounting voucher issued and kept by the creditor in accordance with its own business regulations. 
 12.3 Notice 

The address of the guarantor set forth herein is the confirmed mailing address and the address for service of legal instruments. In case of any change, the
guarantor shall notify the creditor in writing within ten natural days after the change, with the postal cost incurred borne by the guarantor. The original address shall be still deemed valid before the creditor receives the notice of change from
the guarantor. If the address of the creditor changes, the creditor only needs to make an announcement at the premises or through other means. 
 Any
notices and requests concerning this Contract between the creditor and the guarantor shall be sent by registered mail, EMS or made in any other written form as agreed by the parties. Any communication or document made or delivered by the creditor to
this guarantor under this contract or for the purpose of this contract shall be deemed to have been served under the following circumstances: 
 a) If
delivered by hand, at the time of delivery by hand; 
 b) If sent by letter, on the second (2) natural day for the same city, the fifth
(5) natural day for different cities after the envelope marked with such address is mailed with postage prepaid; 

  

			
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 c) If sent by e-mail or other electronic means of communication, at
the time of receipt in a clearly visible form; 
 d) If transmitted by telex or fax, at the time of completion of the transmission and receipt of the
correct number or fax report; 
 e) In the case of notification of transfer or collection by making an announcement in public media or other means, it shall
be deemed to have been served to the other party on the date of the announcement. 
 The guarantor agrees that the creditor may entrust the courier
agency to send notices, receipts or other written documents relating to this Contract. In case of any loss or delay in the process of sending, the creditor shall take no responsibility. The creditor undertakes actively cooperate with the guarantor
and take remedy measures to minimize risks and economic losses. 
 12.4 The guarantor acknowledges that the creditor may entrust another business office
of Fubon Bank (China) Co., Ltd. to fulfill the rights and obligations hereunder, or put the business hereunder under the management of another business office of Fubon Bank (China) Co., Ltd. as required. The other business office of Fubon Bank
(China) Co., Ltd. authorized by the creditor, or the other business office of Fubon Bank (China) Co., Ltd. that undertakes the business hereunder shall have the right to exercise all the rights hereunder and have the right to file a lawsuit in or
apply for enforcement to the court in the name of the business office with respect to the dispute hereunder. 
 12.5 The guarantor may not transfer any
rights and obligations hereunder to a third party without the written consent of the creditor. Where the creditor assigns the creditor’s right under the main contract to a third party in whole or in part and notifies the guarantor (without
otherwise obtaining the consent or approval of the guarantor), the guarantor agrees that the creditor shall transfer the security right set hereunder at the same time, and the guarantor shall assume the guarantee liability to the assignee within the
scope of guarantee stipulated herein, and agree to take any action or sign any document to cooperate with the creditor to complete the said assignment. The guarantor shall continue to assume responsibility for the creditor and its assignee and
beneficiary in accordance with this Contract. 
 12.6 Except for the expenses to be borne by the creditor as explicitly stipulated by laws and regulations,
any expenses hereunder shall be borne by the guarantor. 
 12.7 Without prejudice to other terms herein, if the guarantor is an institution, this Contract
shall be legally binding on the parties and their respective legal successors and assignees. 
 12.8 If a clause or a portion of a clause hereof is invalid
now or will become invalid in the future, the invalid clause or invalid portion shall not affect the validity of this Contract and other clauses of this Contract or other contents of such clause. 

12.9 During the period from the date of execution of the main contract until the settlement of the debt under the main contract, the guarantor irrevocably
authorizes the creditor to inquire the guarantor’s credit information with the financial credit information basic database and other duly established credit reference agencies and use such credit information while the guarantor assumes the
guarantee liability to the creditor in handling various credit businesses for the debtor. Without the written consent of the guarantor, the creditor may not disclose the guarantor’s credit information to any person except in the following
cases: (1) Disclosure to any court, tribunal, regulatory agency, or government agency that has jurisdiction and regulatory power over the creditor; (2) Other disclosures as required by laws and regulations. If the creditor enters, inquires
or uses the guarantor’s information beyond the above-mentioned purposes of use, the creditor shall bear any and all the consequences and legal liabilities arising therefrom. The guarantor agrees that the creditor may submit the guarantor’s
credit information to the financial credit information basic database and other duly established credit reference agencies. The guarantor is fully aware of and understands the entire contents of the foregoing authorization terms and authorizes the
creditor on this basis. 
 12.10 The guarantor shall notarize this Contract when the creditor deems it necessary. Such notarization shall be enforceable
and the guarantor undertakes that the guarantor is willing to accept enforcement in accordance with law in the event of non-performance or partial non-performance of
obligations on the part of the debtor or the guarantor. 

  

			
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 12.11 The guarantor shall compensate the creditor for any and all losses and expenses incurred as a
result of the guarantor’s failure to perform its obligations and covenants hereunder. 
 12.12 The guarantor agrees that the creditor may entrust a
third party to handle the accompanying business (including but not limited to debt collection and other matters) related to this Contract in accordance with laws and regulations, and the guarantor agrees that the creditor may submit the relevant
information and materials of the guarantor hereunder to the third party for handle the matters entrusted. 
 12.13 This Contract is made in duplicate, with
each party holding one copy, which have the same legal effect. 
 Part II Special Terms 

Article 13 Main Contract 
 The main contract refers to the
comprehensive credit line contract, No.: 1809-069382502-01, concluded by and between the creditor and the debtor Shanghai Tong Gou Information Technology Co., Ltd. (including any revisions, amendments,
modifications and supplementations made thereto from time to time). Principal’s claims will be determined between September 17, 2018 and September 30, 2021. 

Article 14 Maximum Principal Amount of the Creditor’s Right 

The maximum principal amount of the creditor’s right secured hereunder (i.e., the ceiling which the balance of the principal of the secured debt may not
exceed) is equivalent to (currency) RMB (amount) five million Yuan only. 
 Article 15 Other Matters as Agreed upon by the Parties 

15.1 ☐ The guarantor agrees to include the unsettled debt of the debtor (including other institutions of the creditor) under the ____________ No.
____________ concluded by and between the debtor and the creditor (including any revisions, amendments, modifications and supplementations made thereto from time to time) in the scope of the maximum amount guarantee of this Contract. 

 

			
		
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 (Signature page to follow) 

Signature Page 
 The parties hereby
acknowledge that at the time of signing this Contract, the creditor has elaborated on all the terms (especially those in bold font) and, through thorough discussion by the parties, the guarantor has no doubt about all the terms of this Contract and
has acquired an accurate and correct understanding of the legal meanings of the terms concerning the relevant rights and obligations of the parties hereto and limitation of liability or exemption or authorization. 

Guarantor: 
 [If the guarantee is an institution] 

Legal representative or authorized agent (Signature/Seal): 
 [If
the guarantee is a natural person] 
 The Guarantor or authorized agent (Signature/Seal): /s/ Wang Ying 

Official seal: 
 Creditor: 

Legal representative or authorized agent (signature and seal): 

Seal: 
 Fubon Bank (China) Co., Ltd. Shanghai Century Avenue
Branch (Seal) 
  

					
		  	Guaranteed by	  	Wang Jing (seal)
			
		  	Guaranteed on	  	9/25/2018

  

			
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 Contract No.: 1809-069382502-01-G2 
  
 

 
 Maximum Guarantee Contract 

Contract version number: FB201603 (Corporate) 

 This Contract, dated September 25, 2018, was made and entered into by and between by the following
parties: 
 Guarantor: Zeng Qingchun 
 Domicile (Address): Room
302, 3/F, 1000 Tianyaoqiao Road, Xuhui District, Shanghai 
 Tel.: 61132270    Fax: ____________________ 

(For an institution) Legal representative/person in charge: _______________ 

(For a natural person) Certificate Type: ___________ Certificate Number: _______________ 

Creditor: Fubon Bank (China) Co., Ltd. Shanghai Century Avenue Branch 

Domicile (Address): 1/F, Block A, 1168 Century Avenue, Pudong New Area, Shanghai 

Legal representative/person in charge: Su Hang 
 Tel.: 021-20619888    Fax:____________________ 

  

			
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 In order to ensure the smooth performance of the main contract (hereinafter referred to as the main
contract) stipulated in Article 13, and ensure the realization of the creditor’s rights, the guarantor is willing to provide the maximum joint and several liability guarantee for the realization of a series of the creditor’s rights under
the main contract. The parties, intending to be legally bound hereby, entered into this Contract upon consensus through negotiation in accordance with relevant laws, regulations and rules. 

Part I General Terms 
 Article 1 The
secured main creditor’s right 
 1.1 The main creditor’s right secured hereunder is each creditor’s right under the main contract. The
specific type, amounts, term, interest rate, and debt performance period of each single business under the main contract shall be determined by the creditor and the debtor in the specific business under the main contract. 

1.2 The maximum principal amount of the creditor’s right secured by guarantee by the guarantor hereunder is set forth in Article 14 hereof. The
maximum principal amount of the creditor’s right only refers to the ceiling of the principal balance of the secured debt (as defined in Article 2.1). Given that the principal of the secured debt does not exceed the said ceiling, the guarantor
agrees to assume joint and several liability guarantee for all payables within the scope of guarantee stated in Article 2 hereof. The guarantor shall not claim no guarantee liability solely on account of the fact that the total amount of all
payables within the scope of guarantee referred to in Article 2 hereof exceeds the maximum principal amount of the creditor’s rights as specified in Article 14 hereof. 

Article 2 Scope of Guarantee 
 2.1 The guarantor’s
guarantee covers any debts payable by the debtor to the creditor at any time now or in the future under the main contract, including but not limited to the principal, interest, compound interest, penalty interest, liquidated damages, damages, and
other amounts payable by the debtor to the creditor (including but not limited to related handling fees, miscellaneous fees and other expenses), the expenses incurred by the creditor for realization of the creditor’s rights (including but not
limited to litigation fees, arbitration fees, security fees, enforcement fees, attorney’s fees, evaluation fees, auction fees, notary fees, announcement fees, service fees, etc.) and other losses (hereinafter referred to as the “secured
debt”). 
 2.2 The single creditor’s right incurred during the determination period (as defined in Article 13) of the main creditor’s
right, even if its expiry date exceeds the determination period of the main creditor’s right, or the contingent creditor’s right incurred during the determination period of the main creditor’s right, even if the time of its conversion
into the actual creditor’s right exceeds the determination period of the main creditor’s right, fall within the scope of guarantee hereunder. 

2.3 The guarantor agrees that in the event of an increase in the principal, interest, penalty interest, and compound interest payable by the debtor as a
result of the creditor’s adjustment of the interest rate, interest accrual or settlement method according to the contract or the changes in the national interest rate policy, or the change in the principal amount of the debt actually payable
due to changes in exchange rate, the increase shall also fall within the scope of guarantee. 
 Article 3 Mode of Guarantee 

3.1 The guarantee under this contract is joint and several liability guarantee. If there is more than one guarantor under the main contract, each guarantor
shall bear joint and several liability for the creditor with respect to the entire secured debt. In case of any event of default under the main contract on the part of the debtor, the creditor shall have the right to directly request any guarantor
to assume the guarantee liability within the scope of guarantee. 
 3.2 Where the creditor declares earlier maturity of the debtor’s debt according
to the main contract, the guarantor shall assume the guarantee liability ahead of time. 

  

			
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 3.3 The guarantor acknowledges that if the debtor fails to perform its debts as agreed in the main
contract, regardless of whether the creditor has any other security interest (including but not limited to guarantee, mortgage, pledge, letter of guarantee and other forms of security) in the creditor’s rights under the main contract, the
creditor shall have the right to require the guarantor to assume the guarantee liability within the scope of guarantee as stipulated herein, without first exercising the other security interest. The guarantor hereby expressly waives the defense
against the claim of first exercising the real security provided by the debtor. If the creditor waives its security interest over the collateral (including the collateral provided by the debtor) or other guarantors, the Guarantor shall still assume
full liability for guarantee as stipulated herein. 
 3.4 The guarantee established herein, as a continuing guarantee for the debtor’s repayment
and performance of all the obligations under the main contract, shall not be released by reason of partial payment or repayment of the secured debt, in which case the guarantor shall still assume guarantee liability for the outstanding debt within
the scope of guarantee according to this Contract. 
 Article 4 Guarantee Period 

4.1 The guarantee period is two years from the date on which each fund raised under the main contract expires, the date on which the creditor advances the
payment, the maturity date of the bill or the similar debt performance deadline (collectively referred to as the “debt performance deadline”). 

4.2 Where the main contract stipulates repayment in installments, the Guarantor shall bear the guarantee liability for the repayment obligation in each
installment under the main contract respectively. The guarantee period shall be from the expiration of the debt performance deadline of each installment until two years after the expiration of the debt performance deadline of the last installment.

 4.3 “Maturity” and “expiration” referred to herein include the case where the creditor declares earlier maturity. Where the creditor
declares earlier maturity of the main creditor’s right, the date of earlier maturity announced by the creditor shall be the expiry date of the debt performance deadline. 

4.4 The guarantor agrees that if the creditor and the debtor reach an agreement on extension of the debt performance deadline, the guarantee period shall
terminate two years after the expiry date of each new debt performance deadline specified in the extension agreement. 
 Article 5 Performance of
Guarantee Liability 
 5.1 Provided that the creditor submits to the Guarantor a debt collection notice stating the guarantee contract number and the
amount of the main debt, the Guarantor shall immediately perform the liquidation obligation upon receipt of the notice. 
 5.2 Where the Guarantor shall
perform the guarantee liability hereunder, the creditor shall have the right to deduct any amount from any account opened by the Guarantor with any business office of Fubon Bank (China) Co., Ltd. for liquidation of the debts due, without giving
notice to the Guarantor. Even if all or part of the aforesaid amount has been deposited for a fixed period of time, or it requires a certain period of notice, and the fixed period or notice period has not expired or such notice has not been issued,
the above rights of the creditor shall not be restricted or affected in any way, and the creditor is not required to assume any liability or make any compensation to the Guarantor for deducting such undue amount. Unless otherwise agreed by the
parties, the creditor shall have the right to determine the liquidation order with the proceeds from deduction. If the currency of the proceeds from deduction is inconsistent with that of the amount to be liquidated, it shall be converted at the
exchange rate applicable to the creditor on the same day of deduction, and the exchange rate risk shall be borne by the Guarantor. When the creditor deems it necessary, the Guarantor shall execute all documents and take all actions as necessary to
authorize the creditor to deal with the claim and recourse of all due creditor’s right of the Guarantor; and execute all documents and take all actions as necessary to create a pledge in the proceeds therefrom for the creditor. 

5.3 The main creditor’s right shall be determined upon the occurrence of any of the following: 

(1) the determination period of the main creditor’s right expires; 

(2) Any event of default set forth herein occurs and the creditor decides to determine the creditor’s right; 

  

			
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 (3) The creditor declares earlier maturity of the entire secured debt according to the main contract or
applicable laws; 
 (4) Other circumstances where the secured debt shall be determined as prescribed by law. 

Any and all secured debts that are outstanding at the time of determination of the main creditor’s right, regardless of whether the performance deadline
of such debt has expired or is conditional, shall fall within the scope of the main creditor’s right. At the time of determination of the main creditor’s right, any and all amounts set forth in Article 2, regardless of whether or not they
have occurred then, shall fall within the scope of the main creditor’s right. 
 5.4 While exercising its rights hereunder in accordance with law, the
creditor shall not be liable for any loss incurred thereby to the Guarantor, unless such loss is attributed to its intentional or gross negligence. 
 5.5
The creditor shall have the right to confirm the liquidation order according to the main contract with respect to the proceeds from the creditor’s execution of the guarantee after payment of the execution fee in priority. 

Article 6 Representations and Covenants 
 6.1 The
Guarantor represents as follows: 
 (1) If the Guarantor is an institution (meaning a legal person or an unincorporated organization, referred to as
“institution” herein), the Guarantor is duly registered and existing, and has the full capacity for civil right and civil conduct required to execute and deliver this Contract; if the Guarantor is a natural person, the Guarantor has the
full capacity for civil right and civil conduct required to execute and deliver this Contract. 
 (2) The Guarantor has carefully read and fully understood
the content of this Contract, the execution and performance of this Contract is based on the Guarantor’s manifestation of genuine intention; the execution and performance of this Contract will neither contravene the laws and regulations
governing the Guarantor, nor violate any agreement, contract, and other legal documents binding upon the Guarantor. 
 (3) This Contract constitutes a
legal, valid and legally binding obligation of the Guarantor. The guarantee set up hereunder is unconditional and is not subject to any other priority. 

(4) If the Guarantor is an institution, the Guarantor has obtained legal and valid authorization in accordance with its articles of association or other
internal management documents; the Guarantor has obtained or will obtain all relevant approvals, permits, filings or registrations required for execution and performance of this Contract. 

(5) All documents, financial statements, vouchers and other materials submitted by the guarantor to the creditor hereunder are true, complete, accurate and
valid. 
 (6) The guarantor undertakes to submit any documents and materials required at any time at the request of the creditor. The guarantor undertakes
that all documents and materials submitted to the creditor are accurate, true, complete and valid, and the documents submitted in photocopies are consistent with the original. 

(7) The guarantor has not concealed from the creditor any event that may affect its financial condition and ability to perform the contract. In the event of
any circumstances that may affect the guarantor’s financial condition and ability to perform the contract, including but not limited to transfer of major assets or equity transfer, incurring significant liabilities, and involvement in major
litigation or arbitration cases, or loss of civil capacity, etc, the guarantor shall notify the creditor on the date of occurrence or on the date when being aware that it will occur. 

(8) Where the debt under the main contract is not fully settled after the guarantor’s performance of the guarantee liability, the guarantor covenants
that its claim (including pre-exercise) of the right of subrogation or recourse against the debtor or any other guarantor shall not harm the creditor’s interests in any way and agrees that the liquidation
of the debt under the main contract takes precedence over the realization of the guarantor’s right of subrogation or recourse. 

  

			
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 (9) The guarantor covenants to supervise the use of the debt by the debtor, and the guarantor accepts and
cooperates with the creditor in the verification of its qualification, capacity for performing vicarious liability, credit standing and investment. 
 (10)
The guarantor is willing to assume the guarantee liability with all the property owned. Before the settlement of the secured debt, the guarantor covenants not to provide guarantee to any third party without the written consent of the creditor. If
the guarantor’s property then is not sufficient to cover the guarantee liability, the guarantor undertakes to continue to be liable for liquidation of the insufficiency. 

(11) The guarantor is not involved in any economic, civil, criminal, administrative proceedings, or similar arbitral proceedings that may have a material
adverse effect on it, nor does it have any circumstances that could lead to its involvement in such proceedings or similar arbitral proceedings. 
 (12) No
important assets of the guarantor is subject to any enforcement, seizure, detention, freezing, lien, or regulatory measures, or is under any circumstances that may lead to such measures. 

6.2 If the guarantor is an institution, the guarantor further covenants as follows: 

(1) None of the guarantor and any of its shareholders and affiliates has been involved in any liquidation, bankruptcy, reorganization, consolidation (merger),
spinoff, restructuring, dissolution, capital reduction or similar legal proceedings, and no circumstances that may lead to such legal proceedings has occurred to them. 

(2) Submit the financial statements (including but not limited to annual reports, semi-annual reports, quarterly reports and monthly statements) and other
relevant materials to the creditor on a regular or timely basis as required by the creditor. 
 (3) If the guarantor has entered into or will enter into a
counter-guarantee agreement or similar agreement with the debtor with respect to its guarantee obligations hereunder, such agreement will not prejudice any rights of the creditor hereunder. 

(4) The guarantor cannot undergo merger, spinoff, capital reduction, equity transfer, foreign investment, substantial increase in debt financing, transfer of
major assets and claims, and other matters that may adversely affect the guarantor’s guarantee ability unless the prior consent of the creditor is obtained. 

(5) Under any of the following circumstances, the guarantor shall promptly notify the creditor: 

a) any change in the articles of association, business scope, registered capital, and legal representative; 

b) changing the business mode by carrying out any form of joint operation, establishing joint venture with, cooperating with foreign investors, contracting,
restructuring, institutional shift, planned listing or otherwise; 
 c) being involved in a major litigation or arbitration, or having the property or
collateral being seized, detained or regulated, or creating a new security interest in the collateral; 
 d) discontinuation of business, dissolution,
liquidation, suspension of business for rectification, being revoked, being revoked of business license, and (being filed) filing for bankruptcy; 
 e) Any
of its shareholders, directors and current officers is suspected of being involved in major cases or economic disputes; 
 f) an event of default under any
other contract; 
 g) running into trouble in operation and deterioration of financial condition. 

  

			
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 6.3 If the guarantor is a natural person, the guarantor represents and covenants as follows: 

(1) The guarantor accepts the creditor’s supervision and inspection of the financial status of the guarantor, and assists and cooperates with the creditor
in this regard. The guarantor shall submit the credit reference documents, including but not limited to individual income tax return, deposit certificate, personal credit report, etc., as required by the creditor. 

(2) The guarantor has not concealed from the creditor the significant liabilities that have been borne as at the date of execution of this Contract. 

(3) This Contract is not terminated or adversely affected by the guarantor’s death. The guarantor voluntarily assumes the liability for satisfaction with
the entire estate. The guarantor’s estate administrator and inheritor are fully bound by the guarantee contract. 
 (4) Before fulfillment of the debt
under the main contract, the guarantor shall not maliciously transfer or damage the personal property. 
 6.4 The guarantor’s representations and
undertakings above shall remain true and correct until full settlement of the secured debt, and the guarantor will submit further documentation as required by the creditor from time to time. 

Article 7 Event of Default and Handling 
 7.1 Any of
the following matters shall constitute an event of default event on the part of the guarantor hereunder: 
 (1) The guarantor fails to (or expressly
indicates or indicates by act it will not) duly perform the guarantee liability on time and in full as stipulated herein ; 
 (2) Any document,
information provided by the guarantor or any of the representations, statements, or covenants made by it is untrue, inaccurate, incomplete, illegal or invalid, or is false, fraudulent, contains material omission, material concealment or misleading
information; 
 (3) Occurrence of any circumstance that may affect the guarantor’s financial status and ability to perform the contract ,
including but not limited to the transfer of major assets or equity, undertaking material liabilities, involvement in major litigation or arbitration or enforcement cases, and material adverse changes in financial condition, generation of
unfavorable credit records, loss of civil capacity, disputes or incidents involving changes in marriage, support/dependency/foster relationship relationships, or division of community property; 

(4) If the guarantor is an institution, the guarantor terminates business or dissolves, is revoked or goes bankrupt; 

(5) If the guarantor is a natural person, the guarantor is deceased, declared deceased, missing or declared missing, or becomes a person with limited
capacity for civil conduct or a person without civil capacity; 
 (6) The guarantor becomes unemployed, undergoes business changes, is subject to
administrative, criminal enforcement measures, punishment or other criminal sanctions; 
 (7) This Contract is made invalid or is revoked for reasons
attributable to the guarantor; 
 (8) other events or acts that have or may have a material adverse effect on the main creditor’s right or
security interest on the part of the guarantor; 
 (9) violation of other provisions herein or occurrence of any other event that will affect its
rights hereunder as the creditor considers on the part of the guarantor. 
 7.2 Upon occurrence of any event of default set forth in the preceding
paragraph, the creditor shall have the right to take the following measures separately or simultaneously depending on the circumstances: 
 (1)
require the guarantor to correct its breach of contract within a time limit and fulfill the guarantee liability in a timely manner; 

  

			
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 (2) suspend or terminate the acceptance of the business application under other contracts between the
guarantor and the creditor or other business offices of Fubon Bank (China) Co., Ltd. in whole or in part; suspend or terminate the issuance and processing of the loans that have not yet been issued, and trade financing that has not yet been
processed in whole or in part; 
 (3) Declare immediate maturity of the outstanding credit principal and interest and other payables under other
contracts between the guarantor and the creditors or other business offices of Fubon Bank (China) Co., Ltd. in whole or in part, and require the debtor to repay the debts owed; 

(4) terminate or rescind other contracts between the guarantor and the creditor in whole or in part; 

(5) require the guarantor to compensate for any and all direct and indirect losses caused to the creditor by its breach of contract; 

(6) Take the deduction measures specified in Article 5.2 hereof; 

(7) Determine the main creditor’s right as stipulated in Article 5.3 and require the guarantor to perform the guarantee liability hereunder; 

(8) require the guarantor to provide other guarantees recognized by the creditor; 

(9) Other measures as the creditor deems necessary. 

Article 8 Relationship with the Main Contract 
 8.1 The
rights and interests of the creditor hereunder shall not be affected in any way by any grace, extension granted by the creditor to the debtor, any revision, modification or substitution made by the creditor and the debtor to any terms of the main
contract or the specific contracts or other business documents under the main contract (including but not limited to the change of the terms concerning type, amount, currency, term, interest rate, exchange rate, use, repayment method, rights and
obligations of the credit business). If any of the above circumstances occurs, it shall be deemed that the guarantor’s prior consent has been obtained. The guarantor shall assume the guarantee liability for the secured debt after the change,
and the guarantor shall not be released from its guarantee liability, without further consent from the guarantor. Where the main contract provides for issuance of a letter of credit, a letter of guarantee or a standby letter of credit by the
creditor to the debtor, the creditor and the debtor may modify the letter of credit, letter of guarantee or standby letter of credit under the main contract without obtaining the consent of the guarantor or otherwise giving notice to the guarantor.
Such modification is deemed to have been approved by the guarantor beforehand and shall not mitigate or release the guarantor from the guarantee liability. However, where the creditor and the debtor agree upon extension of the valid term of the
credit line under the main contract or increase of the amount of the credit line under the main contract without the consent of the guarantor, the guarantor shall only assume the guarantee liability for the debt under the main contract before the
change in accordance with this Contract. If the creditor adjusts the fee or rate and the interest accrual method according to the terms of the financing documents or the changes in the national interest rate policy, resulting in an increase in the
interest and expenses payable by the debtor, the increase shall also fall within the scope of guarantee on the part of the guarantor. 
 8.2 The
guarantee of this Contract is an unconditional and irrevocable guarantee, and shall not be affected by any agreement or document signed between the debtor and any unit, shall not be affected by any contract, agreement, guarantee, tacit agreement,
dispute or controversy between the debtor and the creditor or between the guarantor and the debtor, and shall not change due to the merger, spinoff, reorganization into joint stock company, capital increase/decrease, joint venture, association,
renaming, bankruptcy, insolvency, loss of business qualification, change of the organization’s articles of association on the part of the debtor. 

Article 9 Reservation of Rights 
 9.1 If a party fails to
exercise some or all of its rights hereunder, or fails to require the other party to perform and assume some or all of its obligations and responsibilities, it shall not constitute the party’s waiver of such rights or exemption of such
obligations and responsibilities. 

  

			
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 9.2 Any grace, extension or moratorium on the rights hereunder granted by one party to the other party shall
not affect any of its rights under this Contract and laws and regulations, nor shall it be deemed a waiver of such rights. 
 Article 10 Governing Law
and Dispute Resolution 
 10.1 This Contract is governed by the laws of the People’s Republic of China (excluding Hong Kong Special Administrative
Region, Macao Special Administrative Region and Taiwan). 
 10.2 Any dispute concerning this Contract shall be subject to the jurisdiction of the competent
people’s court as stipulated in the main contract. Any other forum selected may be agreed upon in the supplementary provisions. For the duration of the dispute, the parties hereto shall continue to perform the terms not in dispute. If either
party files a lawsuit in the court with respect to any dispute, the litigation cost, the reasonable attorney’s fee incurred by the other party and other expenses arising from the proceedings (including but not limited to property preservation
fee, travel expenses, notarization fee, translation fee, evaluation and auction fees, execution fee, etc.) shall be borne by the defaulting party. 

Article 11 Entry into Force, Modification and Rescission of the Contract 

11.1 This Contract shall enter into force upon signing by the guarantor and the creditor. 

11.2 This Contract may be modified or revised in writing as agreed upon by the parties. Any modification or revision shall constitute an integral part of this
Contract. 
 11.3 Except as otherwise provided by laws and regulations or otherwise agreed by the parties, this Contract may not be terminated until all the
rights and obligations hereunder have been fulfilled. 
 Article 12 Miscellaneous 

12.1 The headings of the clauses and sub-clauses of this Contract are inserted for convenience only and shall not
affect the meaning and interpretation of any clause hereof. 
 12.2 The valid certificate of the creditor’s right hereunder shall be subject to the
accounting voucher issued and kept by the creditor in accordance with its own business regulations. 
 12.3 Notice 

The address of the guarantor set forth herein is the confirmed mailing address and the address for service of legal instruments. In case of any change, the
guarantor shall notify the creditor in writing within ten natural days after the change, with the postal cost incurred borne by the guarantor. The original address shall be still deemed valid before the creditor receives the notice of change from
the guarantor. If the address of the creditor changes, the creditor only needs to make an announcement at the premises or through other means. 
 Any
notices and requests concerning this Contract between the creditor and the guarantor shall be sent by registered mail, EMS or made in any other written form as agreed by the parties. Any communication or document made or delivered by the creditor to
this guarantor under this contract or for the purpose of this contract shall be deemed to have been served under the following circumstances: 
 a) If
delivered by hand, at the time of delivery by hand; 
 b) If sent by letter, on the second (2) natural day for the same city, the fifth
(5) natural day for different cities after the envelope marked with such address is mailed with postage prepaid; 

  

			
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 c) If sent by e-mail or other electronic means of communication, at
the time of receipt in a clearly visible form; 
 d) If transmitted by telex or fax, at the time of completion of the transmission and receipt of the
correct number or fax report; 
 e) In the case of notification of transfer or collection by making an announcement in public media or other means, it shall
be deemed to have been served to the other party on the date of the announcement. 
 The guarantor agrees that the creditor may entrust the courier
agency to send notices, receipts or other written documents relating to this Contract. In case of any loss or delay in the process of sending, the creditor shall take no responsibility. The creditor undertakes actively cooperate with the guarantor
and take remedy measures to minimize risks and economic losses. 
 12.4 The guarantor acknowledges that the creditor may entrust another business office
of Fubon Bank (China) Co., Ltd. to fulfill the rights and obligations hereunder, or put the business hereunder under the management of another business office of Fubon Bank (China) Co., Ltd. as required. The other business office of Fubon Bank
(China) Co., Ltd. authorized by the creditor, or the other business office of Fubon Bank (China) Co., Ltd. that undertakes the business hereunder shall have the right to exercise all the rights hereunder and have the right to file a lawsuit in or
apply for enforcement to the court in the name of the business office with respect to the dispute hereunder. 
 12.5 The guarantor may not transfer any
rights and obligations hereunder to a third party without the written consent of the creditor. Where the creditor assigns the creditor’s right under the main contract to a third party in whole or in part and notifies the guarantor (without
otherwise obtaining the consent or approval of the guarantor), the guarantor agrees that the creditor shall transfer the security right set hereunder at the same time, and the guarantor shall assume the guarantee liability to the assignee within the
scope of guarantee stipulated herein, and agree to take any action or sign any document to cooperate with the creditor to complete the said assignment. The guarantor shall continue to assume responsibility for the creditor and its assignee and
beneficiary in accordance with this Contract. 
 12.6 Except for the expenses to be borne by the creditor as explicitly stipulated by laws and regulations,
any expenses hereunder shall be borne by the guarantor. 
 12.7 Without prejudice to other terms herein, if the guarantor is an institution, this Contract
shall be legally binding on the parties and their respective legal successors and assignees. 
 12.8 If a clause or a portion of a clause hereof is invalid
now or will become invalid in the future, the invalid clause or invalid portion shall not affect the validity of this Contract and other clauses of this Contract or other contents of such clause. 

12.9 During the period from the date of execution of the main contract until the settlement of the debt under the main contract, the guarantor irrevocably
authorizes the creditor to inquire the guarantor’s credit information with the financial credit information basic database and other duly established credit reference agencies and use such credit information while the guarantor assumes the
guarantee liability to the creditor in handling various credit businesses for the debtor. Without the written consent of the guarantor, the creditor may not disclose the guarantor’s credit information to any person except in the following
cases: (1) Disclosure to any court, tribunal, regulatory agency, or government agency that has jurisdiction and regulatory power over the creditor; (2) Other disclosures as required by laws and regulations. If the creditor enters, inquires
or uses the guarantor’s information beyond the above-mentioned purposes of use, the creditor shall bear any and all the consequences and legal liabilities arising therefrom. The guarantor agrees that the creditor may submit the guarantor’s
credit information to the financial credit information basic database and other duly established credit reference agencies. The guarantor is fully aware of and understands the entire contents of the foregoing authorization terms and authorizes the
creditor on this basis. 
 12.10 The guarantor shall notarize this Contract when the creditor deems it necessary. Such notarization shall be enforceable
and the guarantor undertakes that the guarantor is willing to accept enforcement in accordance with law in the event of non-performance or partial non-performance of
obligations on the part of the debtor or the guarantor. 

  

			
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 12.11 The guarantor shall compensate the creditor for any and all losses and expenses incurred as a
result of the guarantor’s failure to perform its obligations and covenants hereunder. 
 12.12 The guarantor agrees that the creditor may entrust a
third party to handle the accompanying business (including but not limited to debt collection and other matters) related to this Contract in accordance with laws and regulations, and the guarantor agrees that the creditor may submit the relevant
information and materials of the guarantor hereunder to the third party for handle the matters entrusted. 
 12.13 This Contract is made in duplicate, with
each party holding one copy, which have the same legal effect. 
 Part II Special Terms 

Article 13 Main Contract 
 The main contract refers to the
comprehensive credit line contract, No.: 1809-069382502-01, concluded by and between the creditor and the debtor Shanghai Tong Gou Information Technology Co., Ltd. (including any revisions, amendments,
modifications and supplementations made thereto from time to time). Principal’s claims will be determined between September 17, 2018 and September 30, 2021. 

Article 14 Maximum Principal Amount of the Creditor’s Right 

The maximum principal amount of the creditor’s right secured hereunder (i.e., the ceiling which the balance of the principal of the secured debt may not
exceed) is equivalent to (currency) RMB (amount) five million Yuan only. 
 Article 15 Other Matters as Agreed upon by the Parties 

15.1 ☐ The guarantor agrees to include the unsettled debt of the debtor (including other institutions of the creditor) under the ____________ No.
____________concluded by and between the debtor and the creditor (including any revisions, amendments, modifications and supplementations made thereto from time to time) in the scope of the maximum amount guarantee of this Contract. 

 

			
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 (Signature page to follow) 

Signature Page 
 The parties hereby
acknowledge that at the time of signing this Contract, the creditor has elaborated on all the terms (especially those in bold font) and, through thorough discussion by the parties, the guarantor has no doubt about all the terms of this Contract and
has acquired an accurate and correct understanding of the legal meanings of the terms concerning the relevant rights and obligations of the parties hereto and limitation of liability or exemption or authorization. 

Guarantor: 
 [If the guarantee is an institution] 

Legal representative or authorized agent (Signature/Seal): 

Official seal: 
 [If the guarantee is a natural person] 

The Guarantor or authorized agent 
 (Signature/Seal): /s/ Zeng
Qingchun 
 Creditor: 
 Legal representative or
authorized agent (signature and seal): 
 Seal: 
 Fubon Bank
(China) Co., Ltd. Shanghai Century Avenue Branch (seal) 
  

					
		 	Guaranteed by	  	 Wang Jing
 (seal)

			
		 	Guaranteed on	  	9/25/2018

  

			
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 ECMOHO 

Contract No.:
1809-069382502-01-G3 
  

 
 Maximum Guarantee Contract 

Contract version number: FB201603 (Corporate) 

 This Contract, dated September 25, 2018, was made and entered into by and between by the following
parties: 
 Guarantor: Shanghai ECMOHO Health Biotechnology Co., Ltd. 

Domicile (Address): Room 302, 3/F, 1000 Tianyaoqiao Road, Xuhui District, Shanghai 

Tel.: 61132270    Fax: ____________________ 

(For an institution) Legal representative/person in charge: Wang Ying ___ 

(For a natural person) Certificate Type: ___________ Certificate Number: _______________ 

Creditor: Fubon Bank (China) Co., Ltd. Shanghai Century Avenue Branch 

Domicile (Address): 1168 Century Avenue, Pudong New Area, Shanghai 

Legal representative/person in charge: Su Hang 
 Tel.: 021-20619888    Fax:____________________ 

  

			
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 In order to ensure the smooth performance of the main contract (hereinafter referred to as the main
contract) stipulated in Article 13, and ensure the realization of the creditor’s rights, the guarantor is willing to provide the maximum joint and several liability guarantee for the realization of a series of the creditor’s rights under
the main contract. The parties, intending to be legally bound hereby, entered into this Contract upon consensus through negotiation in accordance with relevant laws, regulations and rules. 

Part I General Terms 
 Article 1 The
secured main creditor’s right 
 1.1 The main creditor’s right secured hereunder is each creditor’s right under the main contract. The
specific type, amounts, term, interest rate, and debt performance period of each single business under the main contract shall be determined by the creditor and the debtor in the specific business under the main contract. 

1.2 The maximum principal amount of the creditor’s right secured by guarantee by the guarantor hereunder is set forth in Article 14 hereof. The
maximum principal amount of the creditor’s right only refers to the ceiling of the principal balance of the secured debt (as defined in Article 2.1). Given that the principal of the secured debt does not exceed the said ceiling, the guarantor
agrees to assume joint and several liability guarantee for all payables within the scope of guarantee stated in Article 2 hereof. The guarantor shall not claim no guarantee liability solely on account of the fact that the total amount of all
payables within the scope of guarantee referred to in Article 2 hereof exceeds the maximum principal amount of the creditor’s rights as specified in Article 14 hereof. 

Article 2 Scope of Guarantee 
 2.1 The guarantor’s
guarantee covers any debts payable by the debtor to the creditor at any time now or in the future under the main contract, including but not limited to the principal, interest, compound interest, penalty interest, liquidated damages, damages, and
other amounts payable by the debtor to the creditor (including but not limited to related handling fees, miscellaneous fees and other expenses), the expenses incurred by the creditor for realization of the creditor’s rights (including but not
limited to litigation fees, arbitration fees, security fees, enforcement fees, attorney’s fees, evaluation fees, auction fees, notary fees, announcement fees, service fees, etc.) and other losses (hereinafter referred to as the “secured
debt”). 
 2.2 The single creditor’s right incurred during the determination period (as defined in Article 13) of the main creditor’s
right, even if its expiry date exceeds the determination period of the main creditor’s right, or the contingent creditor’s right incurred during the determination period of the main creditor’s right, even if the time of its conversion
into the actual creditor’s right exceeds the determination period of the main creditor’s right, fall within the scope of guarantee hereunder. 

2.3 The guarantor agrees that in the event of an increase in the principal, interest, penalty interest, and compound interest payable by the debtor as a
result of the creditor’s adjustment of the interest rate, interest accrual or settlement method according to the contract or the changes in the national interest rate policy, or the change in the principal amount of the debt actually payable
due to changes in exchange rate, the increase shall also fall within the scope of guarantee. 
 Article 3 Mode of Guarantee 

3.1 The guarantee under this contract is joint and several liability guarantee. If there is more than one guarantor under the main contract, each guarantor
shall bear joint and several liability for the creditor with respect to the entire secured debt. In case of any event of default under the main contract on the part of the debtor, the creditor shall have the right to directly request any guarantor
to assume the guarantee liability within the scope of guarantee. 
 3.2 Where the creditor declares earlier maturity of the debtor’s debt according
to the main contract, the guarantor shall assume the guarantee liability ahead of time. 

  

			
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 3.3 The guarantor acknowledges that if the debtor fails to perform its debts as agreed in the main
contract, regardless of whether the creditor has any other security interest (including but not limited to guarantee, mortgage, pledge, letter of guarantee and other forms of security) in the creditor’s rights under the main contract, the
creditor shall have the right to require the guarantor to assume the guarantee liability within the scope of guarantee as stipulated herein, without first exercising the other security interest. The guarantor hereby expressly waives the defense
against the claim of first exercising the real security provided by the debtor. If the creditor waives its security interest over the collateral (including the collateral provided by the debtor) or other guarantors, the Guarantor shall still assume
full liability for guarantee as stipulated herein. 
 3.4 The guarantee established herein, as a continuing guarantee for the debtor’s repayment
and performance of all the obligations under the main contract, shall not be released by reason of partial payment or repayment of the secured debt, in which case the guarantor shall still assume guarantee liability for the outstanding debt within
the scope of guarantee according to this Contract. 
 Article 4 Guarantee Period 

4.1 The guarantee period is two years from the date on which each fund raised under the main contract expires, the date on which the creditor advances the
payment, the maturity date of the bill or the similar debt performance deadline (collectively referred to as the “debt performance deadline”). 

4.2 Where the main contract stipulates repayment in installments, the Guarantor shall bear the guarantee liability for the repayment obligation in each
installment under the main contract respectively. The guarantee period shall be from the expiration of the debt performance deadline of each installment until two years after the expiration of the debt performance deadline of the last installment.

 4.3 “Maturity” and “expiration” referred to herein include the case where the creditor declares earlier maturity. Where the creditor
declares earlier maturity of the main creditor’s right, the date of earlier maturity announced by the creditor shall be the expiry date of the debt performance deadline. 

4.4 The guarantor agrees that if the creditor and the debtor reach an agreement on extension of the debt performance deadline, the guarantee period shall
terminate two years after the expiry date of each new debt performance deadline specified in the extension agreement. 
 Article 5 Performance of
Guarantee Liability 
 5.1 Provided that the creditor submits to the Guarantor a debt collection notice stating the guarantee contract number and the
amount of the main debt, the Guarantor shall immediately perform the liquidation obligation upon receipt of the notice. 
 5.2 Where the Guarantor shall
perform the guarantee liability hereunder, the creditor shall have the right to deduct any amount from any account opened by the Guarantor with any business office of Fubon Bank (China) Co., Ltd. for liquidation of the debts due, without giving
notice to the Guarantor. Even if all or part of the aforesaid amount has been deposited for a fixed period of time, or it requires a certain period of notice, and the fixed period or notice period has not expired or such notice has not been issued,
the above rights of the creditor shall not be restricted or affected in any way, and the creditor is not required to assume any liability or make any compensation to the Guarantor for deducting such undue amount. Unless otherwise agreed by the
parties, the creditor shall have the right to determine the liquidation order with the proceeds from deduction. If the currency of the proceeds from deduction is inconsistent with that of the amount to be liquidated, it shall be converted at the
exchange rate applicable to the creditor on the same day of deduction, and the exchange rate risk shall be borne by the Guarantor. When the creditor deems it necessary, the Guarantor shall execute all documents and take all actions as necessary to
authorize the creditor to deal with the claim and recourse of all due creditor’s right of the Guarantor; and execute all documents and take all actions as necessary to create a pledge in the proceeds therefrom for the creditor. 

5.3 The main creditor’s right shall be determined upon the occurrence of any of the following: 

(1) the determination period of the main creditor’s right expires; 

(2) Any event of default set forth herein occurs and the creditor decides to determine the creditor’s right; 

  

			
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 (3) The creditor declares earlier maturity of the entire secured debt according to the main contract or
applicable laws; 
 (4) Other circumstances where the secured debt shall be determined as prescribed by law. 

Any and all secured debts that are outstanding at the time of determination of the main creditor’s right, regardless of whether the performance deadline
of such debt has expired or is conditional, shall fall within the scope of the main creditor’s right. At the time of determination of the main creditor’s right, any and all amounts set forth in Article 2, regardless of whether or not they
have occurred then, shall fall within the scope of the main creditor’s right. 
 5.4 While exercising its rights hereunder in accordance with law, the
creditor shall not be liable for any loss incurred thereby to the Guarantor, unless such loss is attributed to its intentional or gross negligence. 
 5.5
The creditor shall have the right to confirm the liquidation order according to the main contract with respect to the proceeds from the creditor’s execution of the guarantee after payment of the execution fee in priority. 

Article 6 Representations and Covenants 
 6.1 The
Guarantor represents as follows: 
 (1) If the Guarantor is an institution (meaning a legal person or an unincorporated organization, referred to as
“institution” herein), the Guarantor is duly registered and existing, and has the full capacity for civil right and civil conduct required to execute and deliver this Contract; if the Guarantor is a natural person, the Guarantor has the
full capacity for civil right and civil conduct required to execute and deliver this Contract. 
 (2) The Guarantor has carefully read and fully understood
the content of this Contract, the execution and performance of this Contract is based on the Guarantor’s manifestation of genuine intention; the execution and performance of this Contract will neither contravene the laws and regulations
governing the Guarantor, nor violate any agreement, contract, and other legal documents binding upon the Guarantor. 
 (3) This Contract constitutes a
legal, valid and legally binding obligation of the Guarantor. The guarantee set up hereunder is unconditional and is not subject to any other priority. 

(4) If the Guarantor is an institution, the Guarantor has obtained legal and valid authorization in accordance with its articles of association or other
internal management documents; the Guarantor has obtained or will obtain all relevant approvals, permits, filings or registrations required for execution and performance of this Contract. 

(5) All documents, financial statements, vouchers and other materials submitted by the guarantor to the creditor hereunder are true, complete, accurate and
valid. 
 (6) The guarantor undertakes to submit any documents and materials required at any time at the request of the creditor. The guarantor undertakes
that all documents and materials submitted to the creditor are accurate, true, complete and valid, and the documents submitted in photocopies are consistent with the original. 

(7) The guarantor has not concealed from the creditor any event that may affect its financial condition and ability to perform the contract. In the event of
any circumstances that may affect the guarantor’s financial condition and ability to perform the contract, including but not limited to transfer of major assets or equity transfer, incurring significant liabilities, and involvement in major
litigation or arbitration cases, or loss of civil capacity, etc, the guarantor shall notify the creditor on the date of occurrence or on the date when being aware that it will occur. 

(8) Where the debt under the main contract is not fully settled after the guarantor’s performance of the guarantee liability, the guarantor covenants
that its claim (including pre-exercise) of the right of subrogation or recourse against the debtor or any other guarantor shall not harm the creditor’s interests in any way and agrees that the liquidation
of the debt under the main contract takes precedence over the realization of the guarantor’s right of subrogation or recourse. 

  

			
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 (9) The guarantor covenants to supervise the use of the debt by the debtor, and the guarantor accepts and
cooperates with the creditor in the verification of its qualification, capacity for performing vicarious liability, credit standing and investment. 
 (10)
The guarantor is willing to assume the guarantee liability with all the property owned. Before the settlement of the secured debt, the guarantor covenants not to provide guarantee to any third party without the written consent of the creditor. If
the guarantor’s property then is not sufficient to cover the guarantee liability, the guarantor undertakes to continue to be liable for liquidation of the insufficiency. 

(11) The guarantor is not involved in any economic, civil, criminal, administrative proceedings, or similar arbitral proceedings that may have a material
adverse effect on it, nor does it have any circumstances that could lead to its involvement in such proceedings or similar arbitral proceedings. 
 (12) No
important assets of the guarantor is subject to any enforcement, seizure, detention, freezing, lien, or regulatory measures, or is under any circumstances that may lead to such measures. 

6.2 If the guarantor is an institution, the guarantor further covenants as follows: 

(1) None of the guarantor and any of its shareholders and affiliates has been involved in any liquidation, bankruptcy, reorganization, consolidation (merger),
spinoff, restructuring, dissolution, capital reduction or similar legal proceedings, and no circumstances that may lead to such legal proceedings has occurred to them. 

(2) Submit the financial statements (including but not limited to annual reports, semi-annual reports, quarterly reports and monthly statements) and other
relevant materials to the creditor on a regular or timely basis as required by the creditor. 
 (3) If the guarantor has entered into or will enter into a
counter-guarantee agreement or similar agreement with the debtor with respect to its guarantee obligations hereunder, such agreement will not prejudice any rights of the creditor hereunder. 

(4) The guarantor cannot undergo merger, spinoff, capital reduction, equity transfer, foreign investment, substantial increase in debt financing, transfer of
major assets and claims, and other matters that may adversely affect the guarantor’s guarantee ability unless the prior consent of the creditor is obtained. 

(5) Under any of the following circumstances, the guarantor shall promptly notify the creditor: 

a) any change in the articles of association, business scope, registered capital, and legal representative; 

b) changing the business mode by carrying out any form of joint operation, establishing joint venture with, cooperating with foreign investors, contracting,
restructuring, institutional shift, planned listing or otherwise; 
 c) being involved in a major litigation or arbitration, or having the property or
collateral being seized, detained or regulated, or creating a new security interest in the collateral; 
 d) discontinuation of business, dissolution,
liquidation, suspension of business for rectification, being revoked, being revoked of business license, and (being filed)filing for bankruptcy; 
 e) Any
of its shareholders, directors and current officers is suspected of being involved in major cases or economic disputes; 
 f) an event of default under any
other contract; 
 g) running into trouble in operation and deterioration of financial condition. 

  

			
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 6.3 If the guarantor is a natural person, the guarantor represents and covenants as follows: 

(1) The guarantor accepts the creditor’s supervision and inspection of the financial status of the guarantor, and assists and cooperates with the creditor
in this regard. The guarantor shall submit the credit reference documents, including but not limited to individual income tax return, deposit certificate, personal credit report, etc., as required by the creditor. 

(2) The guarantor has not concealed from the creditor the significant liabilities that have been borne as at the date of execution of this Contract. 

(3) This Contract is not terminated or adversely affected by the guarantor’s death. The guarantor voluntarily assumes the liability for satisfaction with
the entire estate. The guarantor’s estate administrator and inheritor are fully bound by the guarantee contract. 
 (4) Before fulfillment of the debt
under the main contract, the guarantor shall not maliciously transfer or damage the personal property. 
 6.4 The guarantor’s representations and
undertakings above shall remain true and correct until full settlement of the secured debt, and the guarantor will submit further documentation as required by the creditor from time to time. 

Article 7 Event of Default and Handling 
 7.1 Any of
the following matters shall constitute an event of default event on the part of the guarantor hereunder: 
 (1) The guarantor fails to(or expressly
indicates or indicates by act it will not) duly perform the guarantee liability on time and in full as stipulated herein; 
 (2) Any document,
information provided by the guarantor or any of the representations, statements, or covenants made by it is untrue, inaccurate, incomplete, illegal or invalid, or is false, fraudulent, contains material omission, material concealment or misleading
information; 
 (3) Occurrence of any circumstance that may affect the guarantor’s financial status and ability to perform the contract ,
including but not limited to the transfer of major assets or equity, undertaking material liabilities, involvement in major litigation or arbitration or enforcement cases, and material adverse changes in financial condition, generation of
unfavorable credit records, loss of civil capacity, disputes or incidents involving changes in marriage, support/dependency/foster relationship relationships, or division of community property; 

(4) If the guarantor is an institution, the guarantor terminates business or dissolves, is revoked or goes bankrupt; 

(5) If the guarantor is a natural person, the guarantor is deceased, declared deceased, missing or declared missing, or becomes a person with limited
capacity for civil conduct or a person without civil capacity; 
 (6) The guarantor becomes unemployed, undergoes business changes, is subject to
administrative, criminal enforcement measures, punishment or other criminal sanctions; 
 (7) This Contract is made invalid or is revoked for reasons
attributable to the guarantor; 
 (8) other events or acts that have or may have a material adverse effect on the main creditor’s right or
security interest on the part of the guarantor; 
 (9) violation of other provisions herein or occurrence of any other event that will affect its
rights hereunder as the creditor considers on the part of the guarantor. 
 7.2 Upon occurrence of any event of default set forth in the preceding
paragraph, the creditor shall have the right to take the following measures separately or simultaneously depending on the circumstances: 
 (1)
require the guarantor to correct its breach of contract within a time limit and fulfill the guarantee liability in a timely manner; 

  

			
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 (2) suspend or terminate the acceptance of the business application under other contracts between the
guarantor and the creditor or other business offices of Fubon Bank (China) Co., Ltd. in whole or in part; suspend or terminate the issuance and processing of the loans that have not yet been issued, and trade financing that has not yet been
processed in whole or in part; 
 (3) Declare immediate maturity of the outstanding credit principal and interest and other payables under other
contracts between the guarantor and the creditors or other business offices of Fubon Bank (China) Co., Ltd. in whole or in part, and require the debtor to repay the debts owed; 

(4) terminate or rescind other contracts between the guarantor and the creditor in whole or in part; 

(5) require the guarantor to compensate for any and all direct and indirect losses caused to the creditor by its breach of contract; 

(6) Take the deduction measures specified in Article 5.2 hereof; 

(7) Determine the main creditor’s right as stipulated in Article 5.3 and require the guarantor to perform the guarantee liability hereunder; 

(8) require the guarantor to provide other guarantees recognized by the creditor; 

(9) Other measures as the creditor deems necessary. 

Article 8 Relationship with the Main Contract 
 8.1 The
rights and interests of the creditor hereunder shall not be affected in any way by any grace, extension granted by the creditor to the debtor, any revision, modification or substitution made by the creditor and the debtor to any terms of the main
contract or the specific contracts or other business documents under the main contract (including but not limited to the change of the terms concerning type, amount, currency, term, interest rate, exchange rate, use, repayment method, rights and
obligations of the credit business). If any of the above circumstances occurs, it shall be deemed that the guarantor’s prior consent has been obtained. The guarantor shall assume the guarantee liability for the secured debt after the change,
and the guarantor shall not be released from its guarantee liability, without further consent from the guarantor. Where the main contract provides for issuance of a letter of credit, a letter of guarantee or a standby letter of credit by the
creditor to the debtor, the creditor and the debtor may modify the letter of credit, letter of guarantee or standby letter of credit under the main contract without obtaining the consent of the guarantor or otherwise giving notice to the guarantor.
Such modification is deemed to have been approved by the guarantor beforehand and shall not mitigate or release the guarantor from the guarantee liability. However, where the creditor and the debtor agree upon extension of the valid term of the
credit line under the main contract or increase of the amount of the credit line under the main contract without the consent of the guarantor, the guarantor shall only assume the guarantee liability for the debt under the main contract before the
change in accordance with this Contract. If the creditor adjusts the fee or rate and the interest accrual method according to the terms of the financing documents or the changes in the national interest rate policy, resulting in an increase in the
interest and expenses payable by the debtor, the increase shall also fall within the scope of guarantee on the part of the guarantor. 
 8.2 The
guarantee of this Contract is an unconditional and irrevocable guarantee, and shall not be affected by any agreement or document signed between the debtor and any unit, shall not be affected by any contract, agreement, guarantee, tacit agreement,
dispute or controversy between the debtor and the creditor or between the guarantor and the debtor, and shall not change due to the merger, spinoff, reorganization into joint stock company, capital increase/decrease, joint venture, association,
renaming, bankruptcy, insolvency, loss of business qualification, change of the organization’s articles of association on the part of the debtor. 

Article 9 Reservation of Rights 
 9.1 If a party fails to
exercise some or all of its rights hereunder, or fails to require the other party to perform and assume some or all of its obligations and responsibilities, it shall not constitute the party’s waiver of such rights or exemption of such
obligations and responsibilities. 

  

			
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 9.2 Any grace, extension or moratorium on the rights hereunder granted by one party to the other party shall
not affect any of its rights under this Contract and laws and regulations, nor shall it be deemed a waiver of such rights. 
 Article 10 Governing Law
and Dispute Resolution 
 10.1 This Contract is governed by the laws of the People’s Republic of China (excluding Hong Kong Special Administrative
Region, Macao Special Administrative Region and Taiwan). 
 10.2 Any dispute concerning this Contract shall be subject to the jurisdiction of the competent
people’s court as stipulated in the main contract. Any other forum selected may be agreed upon in the supplementary provisions. For the duration of the dispute, the parties hereto shall continue to perform the terms not in dispute. If either
party files a lawsuit in the court with respect to any dispute, the litigation cost, the reasonable attorney’s fee incurred by the other party and other expenses arising from the proceedings (including but not limited to property preservation
fee, travel expenses, notarization fee, translation fee, evaluation and auction fees, execution fee, etc.) shall be borne by the defaulting party. 

Article 11 Entry into Force, Modification and Rescission of the Contract 

11.1 This Contract shall enter into force upon signing by the guarantor and the creditor. 

11.2 This Contract may be modified or revised in writing as agreed upon by the parties. Any modification or revision shall constitute an integral part of this
Contract. 
 11.3 Except as otherwise provided by laws and regulations or otherwise agreed by the parties, this Contract may not be terminated until all the
rights and obligations hereunder have been fulfilled. 
 Article 12 Miscellaneous 

12.1 The headings of the clauses and sub-clauses of this Contract are inserted for convenience only and shall not
affect the meaning and interpretation of any clause hereof. 
 12.2 The valid certificate of the creditor’s right hereunder shall be subject to the
accounting voucher issued and kept by the creditor in accordance with its own business regulations. 
 12.3 Notice 

The address of the guarantor set forth herein is the confirmed mailing address and the address for service of legal instruments. In case of any change, the
guarantor shall notify the creditor in writing within ten natural days after the change, with the postal cost incurred borne by the guarantor. The original address shall be still deemed valid before the creditor receives the notice of change from
the guarantor. If the address of the creditor changes, the creditor only needs to make an announcement at the premises or through other means. 
 Any
notices and requests concerning this Contract between the creditor and the guarantor shall be sent by registered mail, EMS or made in any other written form as agreed by the parties. Any communication or document made or delivered by the creditor to
this guarantor under this contract or for the purpose of this contract shall be deemed to have been served under the following circumstances: 
 a) If
delivered by hand, at the time of delivery by hand; 
 b) If sent by letter, on the second (2) natural day for the same city, the fifth
(5) natural day for different cities after the envelope marked with such address is mailed with postage prepaid; 

  

			
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 c) If sent by e-mail or other electronic means of communication, at
the time of receipt in a clearly visible form; 
 d) If transmitted by telex or fax, at the time of completion of the transmission and receipt of the
correct number or fax report; 
 e) In the case of notification of transfer or collection by making an announcement in public media or other means, it shall
be deemed to have been served to the other party on the date of the announcement. 
 The guarantor agrees that the creditor may entrust the courier
agency to send notices, receipts or other written documents relating to this Contract. In case of any loss or delay in the process of sending, the creditor shall take no responsibility. The creditor undertakes actively cooperate with the guarantor
and take remedy measures to minimize risks and economic losses. 
 12.4 The guarantor acknowledges that the creditor may entrust another business office
of Fubon Bank (China) Co., Ltd. to fulfill the rights and obligations hereunder, or put the business hereunder under the management of another business office of Fubon Bank (China) Co., Ltd. as required. The other business office of Fubon Bank
(China) Co., Ltd. authorized by the creditor, or the other business office of Fubon Bank (China) Co., Ltd. that undertakes the business hereunder shall have the right to exercise all the rights hereunder and have the right to file a lawsuit in or
apply for enforcement to the court in the name of the business office with respect to the dispute hereunder. 
 12.5 The guarantor may not transfer any
rights and obligations hereunder to a third party without the written consent of the creditor. Where the creditor assigns the creditor’s right under the main contract to a third party in whole or in part and notifies the guarantor (without
otherwise obtaining the consent or approval of the guarantor), the guarantor agrees that the creditor shall transfer the security right set hereunder at the same time, and the guarantor shall assume the guarantee liability to the assignee within the
scope of guarantee stipulated herein, and agree to take any action or sign any document to cooperate with the creditor to complete the said assignment. The guarantor shall continue to assume responsibility for the creditor and its assignee and
beneficiary in accordance with this Contract. 
 12.6 Except for the expenses to be borne by the creditor as explicitly stipulated by laws and regulations,
any expenses hereunder shall be borne by the guarantor. 
 12.7 Without prejudice to other terms herein, if the guarantor is an institution, this Contract
shall be legally binding on the parties and their respective legal successors and assignees. 
 12.8 If a clause or a portion of a clause hereof is invalid
now or will become invalid in the future, the invalid clause or invalid portion shall not affect the validity of this Contract and other clauses of this Contract or other contents of such clause. 

12.9 During the period from the date of execution of the main contract until the settlement of the debt under the main contract, the guarantor irrevocably
authorizes the creditor to inquire the guarantor’s credit information with the financial credit information basic database and other duly established credit reference agencies and use such credit information while the guarantor assumes the
guarantee liability to the creditor in handling various credit businesses for the debtor. Without the written consent of the guarantor, the creditor may not disclose the guarantor’s credit information to any person except in the following
cases: (1) Disclosure to any court, tribunal, regulatory agency, or government agency that has jurisdiction and regulatory power over the creditor; (2) Other disclosures as required by laws and regulations. If the creditor enters, inquires
or uses the guarantor’s information beyond the above-mentioned purposes of use, the creditor shall bear any and all the consequences and legal liabilities arising therefrom. The guarantor agrees that the creditor may submit the guarantor’s
credit information to the financial credit information basic database and other duly established credit reference agencies. The guarantor is fully aware of and understands the entire contents of the foregoing authorization terms and authorizes the
creditor on this basis. 
 12.10 The guarantor shall notarize this Contract when the creditor deems it necessary. Such notarization shall be enforceable
and the guarantor undertakes that the guarantor is willing to accept enforcement in accordance with law in the event of non-performance or partial non-performance of
obligations on the part of the debtor or the guarantor. 

  

			
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 12.11 The guarantor shall compensate the creditor for any and all losses and expenses incurred as a
result of the guarantor’s failure to perform its obligations and covenants hereunder. 
 12.12 The guarantor agrees that the creditor may entrust a
third party to handle the accompanying business (including but not limited to debt collection and other matters) related to this Contract in accordance with laws and regulations, and the guarantor agrees that the creditor may submit the relevant
information and materials of the guarantor hereunder to the third party for handle the matters entrusted. 
 12.13 This Contract is made in duplicate, with
each party holding one copy, which have the same legal effect. 
 Part II Special Terms 

Article 13 Main Contract 
 The main contract refers to the
comprehensive credit line contract, No.: 1809-069382502-01, concluded by and between the creditor and the debtor Shanghai Tong Gou Information Technology Co., Ltd. (including any revisions, amendments,
modifications and supplementations made thereto from time to time). Principal’s claims will be determined between September 17, 2018 and September 30, 2021. 

Article 14 Maximum Principal Amount of the Creditor’s Right 

The maximum principal amount of the creditor’s right secured hereunder (i.e., the ceiling which the balance of the principal of the secured debt may not
exceed) is equivalent to (currency) RMB (amount) five million Yuan only. 
 Article 15 Other Matters as Agreed upon by the Parties 

15.1 ☐ The guarantor agrees to include the unsettled debt of the debtor (including other institutions of the creditor) under the ____________ No.
____________ concluded by and between the debtor and the creditor (including any revisions, amendments, modifications and supplementations made thereto from time to time) in the scope of the maximum amount guarantee of this Contract. 

 

			
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 (Signature page to follow) 

Signature Page 
 The parties hereby
acknowledge that at the time of signing this Contract, the creditor has elaborated on all the terms (especially those in bold font) and, through thorough discussion by the parties, the guarantor has no doubt about all the terms of this Contract and
has acquired an accurate and correct understanding of the legal meanings of the terms concerning the relevant rights and obligations of the parties hereto and limitation of liability or exemption or authorization. 

Guarantor: 
 [If the guarantee is an institution] 

Legal representative or authorized agent (Signature/Seal):    (Signature/Seal): Wang Ying (seal) 

Official seal: Shanghai ECMOHO Health Biotechnology Co., Ltd. (seal) 

[If the guarantee is a natural person] 
 The Guarantor or
authorized agent 
 Creditor: 
 Legal representative or
authorized agent (signature and seal): Su Hang (seal) 
 Seal: 

Fubon Bank (China) Co., Ltd. Shanghai Century Avenue Branch (seal) 

 

			
	Guaranteed by	 	Wang Jing (seal), Niu Xiaoting (seal)
	Guaranteed on	 	9/25/2018

  

			
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