Document:

EX-10.14

 Exhibit 10.14 

Shareholders’ Voting Rights Proxy Agreement 

The Shareholders’ Voting Rights Proxy Agreement (hereinafter referred to as the “Agreement”) is entered into by the following parties on
26 September 2019: 
  

	1.	 Certain shareholders of Nanjing Xingmu Biotechnology Co., Ltd. (hereinafter referred to as
“Parties A”) 

 Chao GUO 

ID number: *********** 

Residential address: *********** 

Zhongshu ZHAI 
 ID number:
*********** 
 Residential address: *********** 
  

	2.	 Nanjing Xinmu Information Technology Co., Ltd. (hereinafter referred to as “Party B”)

 Registered address: No. 10-396, Fenghuang Street, Jiangpu Street, Pukou
District, Nanjing 
 Legal representative: Chao GUO 
  

	3.	 Nanjing Xingmu Biotechnology Co., Ltd. (hereinafter referred to as the “Company”)

 Registered address: Room 201, Building 6 (Yuetalou), 18 Fenghua Road, Yuhua Economic Development Zone, Nanjing 

Legal representative: Chao GUO 
 (the above
parties are hereinafter individually referred to as a “Party” and collectively as the “Parties”) 
 Whereas: 

 

	1.	 Parties A are the current registered shareholders of the Company and collectively hold 85.5% of the
Company’s equity; their contributions to the Company’s Registered Capital and shareholding percentage as at the date of execution of the Agreement are set out in Annex I. 

 

	2.	 Parties A signed the Equity Pledge Agreement on the above equity with Party B on the same day as the signing of
the Agreement; 

  

	3.	 Parties A intend to entrust individuals designated by Party B to exercise all the shareholders’ voting
rights they enjoy in the Company (including shareholders’ voting rights formed by any form of capital increase during the validity period of the Agreement). Party B intends to designate individuals to accept such entrustment;

  
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 The Parties hereby agree as follows through friendly negotiation: 

Article 1 Entrustment of Voting Rights 
  

	1.1	 Parties A hereby irrevocably undertake that they shall execute a power of attorney with the same content and
format as set forth in Annex II upon signing the Agreement and authorize the designee of Party B (hereinafter referred to as the “Trustee”) to exercise, on their behalf, all rights of Parties A entitled as the Shareholders of
the Company based on the trustee’s own will and discretion under the then-effective articles of association of the Company as follows (hereinafter referred to as the “Entrusted Rights”): 

 

	 	(1)	 to act as the proxy of Parties A to propose to convene and attend the shareholders’ meeting according to
the articles of association of the Company; 

  

	 	(2)	 to act as the proxy of Parties A to exercise voting rights on all matters requiring discussion and resolution
at the shareholders’ meeting, including but not limited to the appointment and election of directors of the Company and other senior management to be appointed or removed by the Shareholders; 

 

	 	(3)	 other shareholders’ voting rights under the articles of association of the Company (including any other
shareholders’ voting rights stipulated in the articles of association as amended); 

  

	 	(4)	 Other voting rights entitled to Shareholders stipulated by the PRC laws and regulations (including amendments,
changes, additions and re-enactment, regardless of their effective date before or after the conclusion of the Agreement). 

The above authorization and entrustment are based on the premise that the Trustee is a Chinese citizen and Party B agrees to the above
authorization and entrustment. If and only if Party B informs Parties A in writing of the replacement of the Trustee, Parties A shall immediately designate the other Chinese citizen designated by Party B at the time to exercise the above Entrusted
Rights; the new authorization and entrustment replacing the original one once made, each of Parties A shall separately sign a power of attorney with the newly designated personnel of Party B with the same content and format as set forth in Annex
II of the Agreement; and Parties A may not revoke their entrustment and authorization to the Trustee. 
  

	1.2	 Party B shall procure the Trustee to perform the fiduciary obligations legally and diligently within the
authorized scope specified in the Agreement; Parties A shall acknowledge and assume responsibilities for any legal consequences arising from the Trustee’s exercise of the Entrusted Rights. 

 

	1.3	 Parties A hereby agree that the Trustee is not required to seek opinion from Parties A prior to the exercise of
the Entrusted Rights. However, the Trustee shall notify Parties A immediately of any resolution or proposal on convening an extraordinary shareholders’ meeting after such resolution or proposal is made. The Trustee shall provide the relevant
minutes of the meeting and the text of the resolution to the Shareholders after the relevant shareholders’ meeting is held or the relevant shareholders’ resolution is made. 

Article 2 Right to Information 
  

	2.1	 For the purpose of exercising the Entrusted Rights in the Agreement, the Trustee is entitled to learn about any
information in relation to the Company’s operation, business, customers, finance, and employees, and inspect related materials. The Company shall, and Parties A shall procure the Company to, use all its best endeavors to cooperate.

  
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 Article 3 Exercise of Entrusted Rights 

 

	3.1	 Parties A shall offer full assistances to the Trustee with regard to the exercise of the Entrusted Rights,
including, as necessary, timely execution of shareholders’ resolution and other related legal documents adopted by the Trustee, such as documents to meet the requirement of governmental approvals, registration or filings. 

 

	3.2	 If at any time within the term of the Agreement, the grant or exercise of Entrusted Rights is impossible for
whatever cause (excluding the breach of Agreement by the Shareholders or the Company), the Parties shall seek a similar alternative solution, and if necessary, enter into supplementary agreement to amend or adjust the terms and conditions of the
Agreement to assure the realization of the purpose of the Agreement. 

 Article 4 Liability Exemption and Indemnity

  

	4.1	 The Parties hereby acknowledge that Party B shall not be required to be liable to or compensate any other Party
or any third party financially or otherwise for the exercise of the Entrusted Rights under the Agreement by its designated individuals. 

  

	4.2	 Parties A and the Company agree to indemnify and hold Party B harmless against all losses incurred or possibly
incurred as a result of the exercise of the Entrust Rights by the designated Trustee, including but not limited to losses resulted from litigations, demands, arbitrations, claims against Party B by any third party or from administrative
investigation, penalties, provided that such losses are not caused by the Trustee’s willful default or gross negligence. 

Article 5 Representations and Warranties 
  

	5.1	 Each of Parties A hereby represents and warrants as follows: 

 

	 	(1)	 If it is a Chinese citizen or limited liability company, it shall have full capacity for civil conduct and
civil rights, have the independent legal status and have obtained appropriate authorization to execute, deliver and perform the Agreement, and may act as the subject of litigation independently. If it is another organization, it shall have obtained
appropriate authorization to execute, deliver and perform the Agreement, and may act as the subject of litigation independently; 

  

	 	(2)	 It has full internal powers and authorizations for the signing and delivery of the Agreement and all other
documents relating to the transactions referred to in the Agreement that it will sign, and it has full power and authority to complete the transactions described in the Agreement. This Agreement is legally and properly signed and delivered. This
Agreement constitutes a legal and binding obligation on it and may be enforceable against it under the terms of the Agreement; 

  
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	 	(3)	 It is a registered legal shareholder of the Company at the time of entry into force of the Agreement. Except
for the rights set out in the Agreement and the “Equity Pledge Agreement” (including revisions, additions or restatements from time to time) and “Exclusive Call Option Agreement” (including revisions, additions or restatements
from time to time) signed by Parties A, the Company and Party B, the Entrusted rights are free of any third party right. According to the Agreement, the Trustee may completely and fully exercise the Entrusted Rights in accordance with the
then-effective articles of associations of the Company; 

  

	 	(4)	 The execution and performance of the Agreement do not violate or conflict with all applicable laws in force,
any agreement to which they are Parties or which binds on their assets, any court judgement, any arbitration award, or any decision of administrative authorities. 

 

	5.2	 Party B and the Company hereby separately represents and warrants as follows: 

 

	 	(1)	 It is a limited liability company duly incorporated and legally existing under the law of the place of
registration. It has an independent legal personality and has the complete and independent legal status and legal capacity to execute, deliver and perform the Agreement, and may act as the subject of litigation independently. 

 

	 	(2)	 It has full internal corporate powers and authorization for the signing and delivery of the Agreement and all
other documents relating to the transactions referred to in the Agreement that it will sign, and it has full power and authority to complete the transactions described in the Agreement. 

 

	 	(3)	 It guarantees that the Trustee will fully and timely comply with and perform the provisions made to the Trustee
under the Agreement as if the Trustee was a Party to the Agreement. 

  

	5.3	 The Company further represents and warrants that Parties A are the registered legal shareholders of the Company
at the time of entry into force of the Agreement. Except for the rights set out in the Agreement and the Equity Pledge Agreement (including revisions, additions or restatements from time to time) and Exclusive Call Option Agreement (including
revisions, additions or restatements from time to time) signed by Parties A, the Company and Party B, the Entrusted rights are free of any third party right. According to the Agreement, the Trustee may completely and fully exercise the Entrusted
Rights in accordance with the then-effective articles of associations of the Company. 

 Article 6 Duration of the
Agreement 
  

	6.1	 This Agreement shall become effective on the date of formal signing by all Parties; unless the Parties agree in
writing to terminate in advance or the Agreement is terminated in advance according to the provisions of Article 9.1 herein, the Agreement shall continue to be valid. 

 

	6.2	 If any of Parties A transfer all its equity interest in the Company with the prior consent of Party B, it shall
cease to be a Party of the Agreement, while the obligations and undertakings of the other shareholders under the Agreement shall not be adversely affected. Each Shareholder who is permitted to transfer its equity shall procure and ensure that its
assignee continues to perform the obligations of Parties A under the Agreement. 

  
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 Article 7 Notice 

 

	7.1	 Any notice, request, claim and other correspondence required by the Agreement or made under the Agreement shall
be delivered to the Parties in writing. 

  

	7.2	 Any notice hereunder shall be sent to the following addresses (unless changes of address are notified in
writing) by personal delivery, facsimile or registered mail. It shall be deemed as served on the date of receipt recorded on the receipt of the registered mail if posted by registered mail; it shall be deemed as served on the date of transmission if
delivered in person or transmitted by facsimile. If it is transmitted by facsimile, the original shall be sent to the following addresses by registered mail or personal delivery. 

Party B: Nanjing Xinmu Information Technology Co., Ltd. 

Address: No. 10-396, Fenghuang Street, Jiangpu Street, Pukou District, Nanjing 

Tel: *********** 
 Email:
*********** 
 Recipient: Chao GUO 

Party A: Chao GUO 

Address: 
 Fax: 

Tel: *********** 
 Email:
*********** 
 Party A: Zhongshu ZHAI 

Address: 
 Fax: 

Tel: *********** 
 Email:
*********** 
 Company: Nanjing Xingmu Biotechnology Co., Ltd. 

Address: Room 201, Building 6 (Yuetalou), 18 Fenghua Road, Yuhua Economic Development Zone, Nanjing 

Tel: *********** 
 Email:
***********
 Recipient: Chao GUO 

  
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 Article 8 Confidentiality Obligations 

 

	8.1	 During the validity of the Agreement and after termination of the Agreement, the Parties shall keep the other
Parties’ trade secrets, proprietary information, customer information and all other information of a confidential nature of any other Party (hereinafter referred to as “Confidential Information”) obtained during the entering
into and performance of the Agreement strictly confidential. The Party receiving the Confidential Information shall not disclose the Confidential Information to any other third party except for the prior written consent of the Party disclosing the
Confidential Information or disclosure as required by the relevant laws and regulations as well as the rules of the listing exchange where the affiliate of a Party is listed. The Party receiving the Confidential Information shall not use or
indirectly use the Confidential Information, except for the purpose of performing the Agreement. 

  

	8.2	 The following information is not confidential: 

 

	 	(1)	 any information previously known by the Party receiving the information through legal means as proved by
documentary evidence; 

  

	 	(2)	 information that enters the public domain not due to the fault of the Party receiving the information; or

  

	 	(3)	 any information lawfully acquired by the Party receiving the information through other sources after its
receipt of such information. 

  

	8.3	 The Party receiving the information may disclose Confidential Information to its employees and agents concerned
or professionals it hired; nevertheless, the Party receiving the information shall ensure that the above persons comply with the terms and conditions of the Agreement, and shall assume any liability arising from the violation of the relevant terms
and conditions of the Agreement by the above persons. 

  

	8.4	 Notwithstanding any other provisions of the Agreement, the validity of the provisions of this Article shall not
be affected by the termination of the Agreement. 

 Article 9 Default Liability 

 

	9.1	 The Parties agree and confirm that if any Party (hereinafter referred to as “the Defaulting
Party”) materially violates any of the provisions of the Agreement or substantially fails or delays to perform any of the obligations under the Agreement, it shall constitute the breach of contract under the Agreement
(“Default”) and other non-defaulting Parties (hereinafter referred to as “the Non-defaulting Parties”) shall have the right to require
the Defaulting Party to correct or take remedial measures within a reasonable period of time. If the Defaulting Party fails to correct or take remedial measures within a reasonable period of time or within ten (10) days after the other Party
has notified the Defaulting Party in writing of correction request: 

  

	 	(1)	 If any of Parties A or the Company is the Defaulting Party, Party B shall have the right to terminate the
Agreement and request the Defaulting Party to pay for damages; 

  

	 	(2)	 If Party B is the Defaulting Party, the Non-defaulting Parties shall
have the right to request Party B to pay for damages; unless otherwise stipulated by law or agreed by the Parties, it shall have no right to terminate or cancel the Agreement in any circumstances. 

  
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	9.2	 Notwithstanding any other provisions of the Agreement, the validity of this Article shall not be affected by
the suspension or termination of the Agreement. 

 Article 10 Miscellaneous 

 

	10.1	 This Agreement is written in Chinese and executed in multiple counterparts, with one (1) to be retained by
each Party hereto. The rest is used to go through relevant procedures, and each original contract has the same legal effect. 

  

	10.2	 The conclusion, effectiveness, performance, modification, interpretation and termination of the Agreement shall
be governed by the PRC law. 

  

	10.3	 Any disputes arising under the Agreement and relating to the Agreement shall be settled through negotiation
between the Parties. If the Parties cannot reach a consensus within thirty (30) days after the dispute arises, the dispute may be submitted by any Party to the Nanjing Arbitration Commission for arbitration according to the effective
arbitration rules for the time being. The arbitration place is Nanjing and the language used in the arbitration is Chinese. The arbitral award is the final decision and equally binding on the Parties to the Agreement. 

 

	10.4	 Any rights, powers, and remedies entitled to the Parties by the terms of the Agreement shall not exclude any
other rights, powers, and remedies entitled to the Parties by the law and other terms of the Agreement and any Party’s execution of rights, powers and remedies shall not exclude the execution of other rights, powers and remedies entitled to
such Party. 

  

	10.5	 The failure or delay to exercise any rights, powers and remedies (hereinafter referred to as “Such
Rights”) under the Agreement or entitled by the law shall not result in the waiver of Such Rights. The waiver of any and part of Such Rights shall not preclude such Party from exercising Such Rights in other ways and exercising other Such
Rights. 

  

	10.6	 The Annexes set forth in the Agreement are an integral part of the Agreement and shall have the same legal
effect as the provisions of the main body of the Agreement. 

  

	10.7	 The headings of each section in the Agreement are for reference only. Such headings shall not be used for or
affect the interpretation of the provisions of the Agreement under any circumstances. 

  

	10.8	 Each term of the Agreement may be severable and independent of each other term. If any one or more of the terms
of the Agreement becomes invalid, illegal or unenforceable at any time, the validity, legality and enforceability of the other terms of the Agreement shall not be affected thereby. 

 

	10.9	 Any amendments or additions to the Agreement must be made in writing and shall be effective only after duly
signed by all the Parties. 

  

	10.10	 Without the prior written consent of Party B, other Parties shall not transfer any of its rights and/or
obligations under the Agreement to any third party. Parties A and the Company hereby agree that Party B shall have the right to transfer any of its rights and/or obligations hereunder to any third party after notifying Parties A and the Company in
writing. 

  

	10.11	 This Agreement shall be binding on the legal successors of the Parties. 

[The remainder of this page is intentionally left blank] 

  
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 [Signature Page of Shareholders’ Voting Rights Proxy Agreement] 

IN WITNESS WHEREOF, the Agreement is signed by the Parties hereunder on the first above written date hereof. 

 

			
	Nanjing Xinmu Information Technology Co., Ltd.
	(Seal)
	
	/s/ Seal of Nanjing Xinmu Information Technology Co., Ltd.
		
	Signature:	 	 /s/ Chao GUO

	Name:	 	Chao GUO
	Title:	 	General Manager
	
	Nanjing Xingmu Biotechnology Co., Ltd.
	(Seal)
	
	/s/ Seal of Nanjing Xingmu Biotechnology Co., Ltd.
		
	Signature:	 	 /s/ Chao GUO 

	Name:	 	Chao GUO
	Title:	 	General Manager

			
		
	Chao GUO: (Signature)	 	 /s/ Chao GUO

			
		
	Zhongshu ZHAI: (Signature)	 	 /s/ Zhongshu ZHAI

 Annex I: 

General Information of the Company 

Company name: Nanjing Xingmu Biotechnology Co., Ltd. 
 Ownership
structure: 
  

									
	 Names of shareholders
	  	Contribution in the
Company Registered
Capital (RMB)	 	  	Shareholding
percentage	 
	 Chao GUO
	  	 	2,500,000	 	  	 	42.75	% 
	 Zhongshu ZHAI
	  	 	2,500,000	 	  	 	42.75	% 
	 Guangcheng (Shanghai) Information Technology Co., Ltd.
	  	 	847,950	 	  	 	14.50	% 
		  	  
	  
	 	  	  
	  
	 
	 Total
	  	 	5,847,950	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

 Annex II: 

Power of Attorney 
 This
Power of Attorney (hereinafter referred to as the “Power of Attorney”) was signed by [name of shareholder] (address:                 , ID number:
                    ) on                      and
issued to                      (address:
                    , ID number:
                    ) (hereinafter referred to as the “Trustee”). 

I, [                    ], hereby confer a
full power of attorney on the Trustee and authorize the Trustee to exercise my following rights entitled as the shareholder of Nanjing Xingmu Biotechnology Co., Ltd. (hereinafter referred to as the “Company”) as my proxy based on
the Trustee’s own will and discretion: 
  

	 	(1)	 to act as my proxy to propose to convene and attend the shareholders’ meeting according to the articles of
association of the Company; 

  

	 	(2)	 to act as my proxy to exercise the voting right on all matters requiring discussion and resolution at the
shareholders’ meeting, including but not limited to the appointment and election of directors of the Company and other senior management to be appointed or removed by Parties A; 

 

	 	(3)	 to act as my proxy to exercise other shareholders’ voting rights under the articles of association of the
Company (including any other shareholders’ voting rights stipulated in the articles of association as amended). 

  

	 	(4)	 Other voting rights entitled to Shareholders stipulated by the PRC laws and regulations (including amendments,
changes, additions and re-enactment, regardless of their effective date before or after issuance of this Power of Attorney). 

I hereby irrevocably acknowledge that unless [Party B] (the “Party B”) issues me an order requesting for the replacement of
the Trustee, the validity period of this Power of Attorney shall be extended to the date of expiry or before early termination of the “Shareholders’ Voting Rights Proxy Agreement” (including any modification or restatement) signed by
Party B, the Company and Parties A on [                    ]. 

I hereby make this authorization. 
  

			
	Name: [Name of shareholder]
		
	Signature:	 	
                     
                                        

		
	Date:EX-10.15

 Exhibit 10.15 

Equity Pledge Agreement 
 This Equity
Pledge Agreement (hereinafter referred to as the “Agreement”) was executed by and among the following parties on 26 September 2019: 
  

	1.	 Certain shareholders of Nanjing Xingmu Biotechnology Co., Ltd. (hereinafter referred to as the
“Pledgors”) 

 Chao GUO 

ID number: *********** 

Residential address: *********** 

Zhongshu ZHAI 
 ID number:
*********** 
 Residential address: ***********g 
  

	2.	 Nanjing Xinmu Information Technology Co., Ltd. (hereinafter referred to as the
“Pledgee”) 

 Registered address: No. 10-396, Fenghuang
Street, Jiangpu Street, Pukou District, Nanjing 
 Legal representative: Chao GUO 

 

	3.	 Nanjing Xingmu Biotechnology Co., Ltd. (hereinafter referred to as the “Company”)

 Registered address: Room 201, Building 6 (Yuetalou), 18 Fenghua Road, Yuhua Economic Development Zone, Nanjing 

Legal representative: Chao GUO 
 (In the
Agreement, the aforesaid respective parties are individually referred to as a “Party” and collectively as the “Parties”.) 

Whereas: 
  

	(1)	 The Pledgors are registered shareholders of the Company and collectively hold 85.5% equity in the Company. As
of the date of the Agreement, each of Chao GUO and Zhongshu ZHAI holds 42.75% equity in the Company. For details of the shareholding structure of the Company, please refer to Annex I. 

 

	(2)	 According to the Exclusive Call Option Agreement (including the agreement and any amendment thereto or
restatement thereof, hereinafter referred to as the “Call Option Agreement”) executed by the Parties to the Agreement on the date hereof, the Pledgors shall, where permitted by PRC Law and as required by the Pledgee, transfer all or
part of their equity held in the Company to the Pledgee and/or any other entities or individuals designated by it. 

	(3)	 According to the Loan Agreement (including the agreement and any amendment thereto or restatement
thereof, hereinafter referred to as the “Loan Agreement”) executed by the Pledgors and the Pledgee on the date hereof, the Pledgee agrees to provide loans to the Pledgors in accordance with the terms and conditions of the Loan
Agreement. 

  

	(4)	 Pursuant to the Shareholders’ Voting Rights Proxy Agreement (including the agreement
and any amendment thereto or restatement thereof, hereinafter referred to as the “Voting Rights Proxy Agreement”) executed by the Parties to the Agreement on the date hereof, the Pledgors have irrevocably and fully authorized the
person appointed by the Pledgee to exercise on their behalf all of their shareholder’s voting rights in the Company. 

  

	(5)	 According to the Exclusive Technical Consulting and Service Agreement (including the agreement and any
amendment thereto or restatement thereof, hereinafter referred to as the “Consulting and Service Agreement”) executed between the Company and the Pledgee on the date hereof, the Company has exclusively engaged the Pledgee to provide
relevant technical support and consultation services for it and agreed to pay corresponding service fees to the Pledgee for such services. 

  

	(6)	 According to the Intellectual Property License Agreement (including the agreement and any amendment
thereto or restatement thereof, hereinafter referred to as the “Intellectual Property License Agreement”) executed between the Company and the Pledgee on the date hereof, the Pledgee has granted the Company (including the Pledgee)
an exclusive licence to use the intellectual property rights of the Pledgee, and the Company shall pay the Pledgee the corresponding licensing fees for such license. 

 

	(7)	 As security for performance of the Contract Obligations (as defined below) and repayment of the Guaranteed
Liabilities (as defined below) by the Pledgors and the Company, the Pledgors agree to pledge all of their equity of the Company to the Pledgee and grant the Pledgee the right of payment on first priority. 

Therefore, the Parties, upon negotiation, arrive at the following agreement: 

Article 1 Definitions 

1.1    Save as otherwise interpreted pursuant to the context, the following terms shall have the following meanings in the Agreement: 

 

			
	“Contract Obligations”:	  	shall mean all contract obligations of the Pledgors and/or the Company under Loan Agreement, Consultation and Service Agreement, Intellectual Property License Agreement, Call Option Agreement and Voting Rights Proxy Agreement and
the Agreement (and any amendment thereto or restatement thereof).

			
	“Guaranteed Liabilities”:	  	shall include all service fees and interest that the Pledgee shall receive under the Transaction Agreements (as defined below) and loan repayment and interest payment by the Pledgors to the Pledgee; all direct and indirect losses
of foreseeable profits suffered due to any Event of Default(as defined below) of the Pledgors and/or the Company; all expenses incurred to the Pledgee for forcing the Pledgors and/or the Company to perform their Contract Obligations, as well as
general expenses for the exercise of the pledge (including but not limited to attorney fees, arbitration fees, assessment and auction fees for the pledged equity).
		
	“Transaction Agreements”:	  	shall mean the Loan Agreement, Call Option Agreement, Voting Rights Proxy Agreement, Consulting and Service Agreement and Intellectual Property License Agreement.
		
	 “Event
 of
Default”:
	  	shall mean the Pledgors’ and/or the Company’s violation of any Contract Obligations under the Loan Agreement, Call Option Agreement, Voting Rights Proxy Agreement, Consulting and Service Agreement, Intellectual Property
License Agreement, and/or the Agreement (and any amendment thereto or restatement thereof).
		
	 “Pledged

Equity”:
	  	shall mean all of the equity of the Company that is legally owned by the Pledgors at the time when the Agreement takes effect and will be pledged to the Pledgee according to the provisions of the Agreement as security for the
performance of Contract Obligations by the Pledgors (see Annex I for the specific pledged equity of the Pledgors), and the increased capital contribution/equity and share dividend as described in Articles 2.6 and 2.7 hereof.
		
	“Pledge”:	  	shall mean the right entitled to the Pledgee to be repaid in priority with proceeds from discounts, auctions or realization of the equity pledged by the Pledgor to the Pledgee.
		
	“PRC Law”:	  	shall mean the then-effective laws, administrative regulations, administrative rules, local regulations, judicial interpretations and other binding regulatory documents of the People’s Republic of China (excluding Hong Kong
Special Administrative Region, Macau Special Administrative Region and Taiwan for the purpose of the Agreement).

  

	1.2	 The references to any PRC Law herein shall be deemed (1) simultaneously to include the references to the
amendments, changes, supplements and re-enactment of such PRC Law, irrespective of whether they take effect before or after the execution of the Agreement, and (2) simultaneously to include the references
to other decisions, notices and regulations enacted in accordance therewith or effective as a result thereof. 

	1.3	 Except as otherwise stated in the context herein, all references to an article, clause, item or paragraph
herein shall refer to the corresponding part of the Agreement. 

 Article 2 Equity Pledge 

 

	2.1	 The Pledgors agree to pledge all equity legally owned by them and at their disposal to the Pledgee as security
for performance of the Contract Obligations and payment of the Guaranteed Liabilities by the Pledgors according to the Agreement. 

  

	2.2	 The Pledgors shall, register the equity pledge hereunder with the administration for industry and commerce with
jurisdiction over the Company within ten working days after the execution of the Agreement or on other dates agreed by the Parties. The pledge rights hereunder shall be established upon registration of the pledge with the administration for industry
and commerce. 

  

	2.3	 The Company shall, and the Pledgors shall cause the Company to record the Pledge of the Pledged Equity as
specified in the Agreement on the share register, and agree to submit the only share register to the Pledgee for safekeeping. In addition, the Company shall not set up any other share register. 

 

	2.4	 During the valid term of the Agreement, except for the willful misconduct or gross negligence of the Pledgee
which has direct causation with the reduction in value of the Pledged Equity, the Pledgee shall not be liable in any way, nor shall the Pledgors have any right to claim in any way or propose any demands on the Pledgee, in respect of the said
reduction in value of the Pledged Equity. 

  

	2.5	 In case of any Event of Default, the Pledgee shall have the right to dispose of the Pledged Equity in the way
set out in Article 4 hereof. 

  

	2.6	 With the prior consent of the Pledgee, the Pledgors may increase their capital contribution to the Company,
transfer or accept the transfer of any equity of the Company. 

  

	2.7	 With the prior consent of the Pledgee, the Pledgors may be able to receive dividends, share profits or receive
other profit distributions from the Pledged Equity. The Pledgors agree that during the existence of the Equity Pledge, the Pledgee shall have the right to receive any dividends or share profits from the Pledged Equity. The Company shall pay the
partial amount to the bank account designated by the Pledgee. 

	2.8	 The additional equity acquired by the Pledgors under Article 2.6 or 2.7, that is, further capital contribution
made by the Pledgors to the registered capital of the Company due to capital increase to the Company, acceptance of equity transfer, or distribution of dividends by the Company or any other reason, shall also be part of the Pledged Equity. The
Company shall, and the Pledgors shall cause the Company to record change to the Equity Pledge on the Company’s share register on the date of change to the Pledged Equity (including but not limited to capital increase), and complete the
registration of change to the Equity Pledge with the administration for industry and commerce within 15 days after the change. 

  

	2.9	 To the extent not violating provision of Article 2.4 above, in case of any possibility of obvious reduction in
value of the Pledged Equity which is sufficient to jeopardize the Pledgee’s rights, the Pledgee may at any time auction or realize the Pledged Equity on behalf of the Pledgors, and discuss with the Pledgors to use the proceeds from such auction
or realization as early repayment of the Guaranteed Liabilities, or may escrow such proceeds with the local notary institution where the Pledgee is domiciled (any resulting fees shall be borne by the Pledgee). In addition, as requested by the
Pledgee, the Pledgors should provide other property as security. 

 Article 3 Release of Pledge 

 

	3.1	 Upon full and complete performance of all the Contract Obligations and upon the full repayment of all the
Guaranteed Liabilities by the Pledgors and the Company, or upon termination or invalidation of the Transaction Agreements, or upon termination of Contract Obligations due to legal reasons, the Pledgee shall, at the request of the Pledgors, release
the Equity Pledge under the Agreement, and shall cooperate with the Pledgors to go through the formalities to cancel registration of the Equity Pledge at the administration for industry and commerce. The reasonable fees incurred in connection with
such release shall be borne by Pledgee. 

 Article 4 Disposal of the Pledged Equity 

 

	4.1	 The Parties hereby agree that, in case of any Event of Default, the Pledgee shall have the right to exercise,
upon giving a written notice to the Pledgors, all of the remedial rights and powers enjoyed by it under PRC Law, Transaction Agreements and the terms hereof, including (but not limited to) being repaid in priority with proceeds from auctions or
realisation of the Pledged Equity. The Pledgee shall not be liable for any loss resulting from its legal and reasonable exercise of such rights and powers. 

  

	4.2	 The Pledgee shall have the right to designate in writing its solicitors or other agents to exercise on its
behalf any and all rights and powers set out above, to which the Pledgors shall not raise an objection. 

  

	4.3	 For the reasonable costs incurred to the Pledgee in connection with its exercise of any or all rights and
powers set out above, the Pledgee shall have the right to deduct the costs actually incurred from the proceeds acquired from the exercise of the rights and powers. 

	4.4	 The proceeds that the Pledgee acquires from the exercise of its rights and powers shall be used in the
following order: 

 First, to pay any cost incurred in connection with the disposal of the Pledged Equity and the
Pledgee’s exercise of its rights and powers (including remuneration paid to its solicitors and agents); 
 Second, to pay any taxes and
levies payable for the disposal of the Pledged Equity; and 
 Third, to repay the Pledgee for the Guaranteed Liabilities; 

In case of any balance after payment of the above amounts, the Pledgee shall return it to the Pledgors or other persons entitled thereto
according to the relevant laws and rules or escrow it with the local notary institution where the Pledgee is domiciled (any resulting fees shall be borne by the Pledgee). 
  

	4.5	 The Pledgee shall have the option to exercise, simultaneously or successively, any of the breach remedies
entitled to it. The Pledgee shall not be obliged to exercise any other breach remedies before exercise of the right to the auction or realisation of the Pledged Equity hereunder. 

Article 5 Fees and Costs 
  

	5.1	 All costs actually incurred in connection with the establishment of the Equity Pledge hereunder, including (but
not limited to) stamp duties, any other taxes and all legal fees, shall be borne by the Parties respectively as required by law. 

Article 6 Continuity and No Waiver 
  

	6.1	 The Equity Pledge hereunder is a continuous guarantee, with its validity to continue until the full performance
of the Contract Obligations, the termination or invalidation of the Transaction Agreements, the termination of Contract Obligations due to legal reasons or the full repayment of the Guaranteed Liabilities (whichever is earlier). Neither exemption or
grace period granted by Pledgee to the Pledgors in respect of any breach of contract, nor delay by the Pledgee in exercising any of its rights under the Transaction Agreements and the Agreement shall affect the rights of the Pledgee under the
Agreement, relevant PRC Law and the Transaction Agreements, the rights of the Pledgee to demand at any time thereafter the strict performance of the Transaction Agreements and the Agreement by the Pledgors or the rights entitled to the Pledgee due
to subsequent breach of the Transaction Agreements and/or the Agreement by the Pledgors. 

 Article 7 Representations
and Warranties of the Pledgors and the Company 
  

	7.1	 Each of the Pledgors and the Company hereby jointly and severally represent and warrant to the Pledgee as
follows: 

  

	 	(1)	 If they are Chinese citizens or limited liability companies, they have full capacity for civil conduct and
civil rights, have independent legal status, are duly authorized to execute, deliver and perform the Agreement and may act as the subject of litigation independently. If they are other organizations, they are duly authorized to execute, deliver and
perform the Agreement and may act as the subject of litigation independently. 

	 	(2)	 All reports, documents and information concerning the Pledgors, the Pledged Equity and all matters as required
by the Agreement which are provided by the Pledgors and the Company to the Pledgee before the Agreement comes into effect are true and correct in all material aspects at the time when the Agreement comes into effect. 

 

	 	(3)	 All reports, documents and information concerning the Pledgors, the Pledged Equity and all matters as required
by the Agreement which are provided by the Pledgors and the Company to the Pledgee after the Agreement comes into effect are true and correct in all material aspects at the time when they are provided. 

 

	 	(4)	 At the time when the Agreement comes into effect, the Pledgors are the legal owners of the Pledged Equity,
without any existing dispute concerning the ownership of the Pledged Equity. The Pledgors have the right to dispose of the Pledged Equity or any part thereof. 

 

	 	(5)	 Except for the security rights on the Pledged Equity hereunder, the rights set under the Transaction Agreements
and those disclosed in writing by the Pledgers to the Pledgee, there is no other security rights, third party interest or any other restrictions set on the Pledged Equity. The Pledgors have not transferred or disposed of any Pledged Equity
otherwise. 

  

	 	(6)	 The Pledged Equity is capable of being pledged or transferred according to the laws, and the Pledgors have the
full right and power to pledge the Pledged Equity to the Pledgee according to the Agreement. 

  

	 	(7)	 This Agreement constitutes the legal, valid and binding obligations on the Pledgors and the Company when it is
duly executed by the Pledgors and the Company. 

  

	 	(8)	 Except for the right of first refusal with the same conditions and other rights enjoyed by shareholders of the
Company in accordance with the law and the Articles of Association, any consent, permission, waiver or authorization by any third person, or any approval, permission or exemption by any government authority, or any registration (except for
registrations required by Article 2.2) or filing formalities (if required by laws) with any government authority to be obtained in respect of the execution and performance hereof and the Equity Pledge hereunder have already been handled or obtained,
and will be fully effective during the valid term of the Agreement. 

  

	 	(9)	 The execution and performance of the Agreement by the Pledgors and the Company are not in violation of or
conflict with any laws in force applicable to them, any agreement to which they are a party or which has binding effect on their assets, any court judgment, any arbitration award, or any decision of administrative authorities. 

	 	(10)	 The pledge hereunder constitutes the security rights of first order in priority on the Pledged Equity.

  

	 	(11)	 All taxes and fees payable in connection with acquisition of the Pledged Equity have already been paid in full
by the Pledgors and/or the Company. 

  

	 	(12)	 There is no pending or, to the knowledge of the Pledgors or the Company, threatened litigation, arbitrations,
other legal proceedings or demand by any court or any arbitral tribunal against the Pledged Equity, the Pledgors or their property, or the Company or its assets, nor is there any pending or, to the knowledge of the Pledgors or the Company,
threatened administrative procedures, other legal proceedings or demand by any government authority or any administrative authority against the Pledged Equity, the Pledgors or their property, or the Company or its assets, which is of material or
detrimental effect on the economic status of the Pledgors or the Company or the Pledgors’ capability to perform the obligations hereunder and the Guaranteed Liabilities. (13)The Pledgors and the Company hereby warrant to the Pledgee that the
above representations and warranties will remain true and correct at the time of execution of the Agreement, and will be fully complied with. 

Article 8 Undertakings by the Pledgors and the Company 
  

	8.1	 Each of the Pledgors and the Company hereby undertake to the Pledgee as follows: 

 

	 	(1)	 Without prior written consent of the Pledgee, the Pledgors shall not establish or permit to establish any new
pledge or any other security rights or third party rights on the Pledged Equity, and any pledge or any other security rights established or third party rights on all or part of the Pledged Equity without prior written consent of the Pledgee shall be
invalid. 

  

	 	(2)	 Except for the transfer of the Pledged Equity to the Pledgee or the individual designated by the Pledgee
pursuant to the Exclusive Call Option Agreement (including its amendments, supplements or restatements from time to time) executed by the Pledgors and the Pledgee on the same day as the Agreement, without prior written notice to the Pledgee and
having the Pledgee’s prior written consent, the Pledgors shall not transfer or otherwise dispose of all or part of the Pledged Equity, and any attempt or actual transfer or otherwise disposal of the Pledged Equity by the Pledgors shall be null
and void. With written consent of the Pledgee, the proceeds from transfer or otherwise disposal of the Pledged Equity by the Pledgors shall be first used to repay to the Pledgee in advance the Guaranteed Liabilities or escrow the same to the third
party as agreed with the Pledgee. 

	 	(3)	 In case of any litigation, arbitration or other legal proceedings or demand which may affect detrimentally the
interest or the Pledged Equity of the Pledgors or the Pledgee under the Transaction Agreements and hereunder, the Pledgors undertake to notify the Pledgee thereof in writing as soon as possible and promptly and shall take, at the reasonable request
of the Pledgee, all necessary measures to ensure the pledge interest of the Pledgee in the Pledged Equity, except for disputes, litigations, arbitrations between the Pledgors and the Pledgee. 

 

	 	(4)	 The Pledgors and the Company shall not carry on or permit any act or action which may affect detrimentally the
interest or the Pledged Equity of the Pledgee under the Transaction Agreements and hereunder. Each of the Pledgors shall waive the right of first refusal when the Pledgee realizes the pledge rights, except for disputes, litigations, arbitrations
between the Pledgors and the Pledgee. 

  

	 	(5)	 The Pledgors and the Company guarantee that they shall, at the reasonable request of the Pledgee, take all
necessary measures and execute all necessary documents (including but not limited to supplementary agreement hereof) to ensure the pledge interest of the Pledgee in the Pledged Equity and the legal and contractual exercise and realization of the
rights thereof. 

  

	 	(6)	 In case of transfer of any Pledged Equity caused by the legal and contractual exercise of the right to the
pledge hereunder, the Pledgors and the Company guarantee that they will take all necessary measures to realize such transfer. 

  

	 	(7)	 The Pledgors and the Company shall ensure that the convening procedures and voting methods and contents of the
Company’s shareholders’ meeting or Board meeting (if any) held for the purpose of the conclusion of the Agreement and establishment and exercise of the pledge rights are in compliance with laws, administrative rules or the Articles of
Association. 

  

	 	(8)	 Unless with the prior written consent of the Pledgee, the Pledgors shall have no right to transfer any rights
and obligations thereof under the Agreement. 

	 	(9)	 Subject to the restrictions in Article 8.1 (2) of the Agreement, the Pledgors and the Company shall guarantee
the representations and warranties made by the Pledgors to the Pledgee in Article 7 will remain true and correct at any time and under any circumstance before the Contract Obligations are fully performed or the Guaranteed Liabilities are fully
repaid, and will be fully complied with; 

  

	 	(10)	 If the Pledgors fail to perform the representations and warranties made by them to the Pledgee in Article 7.1
(8) and Article 7.1 (9) at any time due to the promulgation or change of any PRC Law, regulations or rules, or changes in the interpretation or application of such laws, regulations or rules, or changes in the relevant registration procedures, the
Pledgors agree to perform in accordance with the provisions of Article 9.1 hereof; 

  

	 	(11)	 The Pledgors agree, upon the occurrence of a breach of contract, to immediately and unconditionally gift any
shared profit, bonus, dividend and other distributable profit that they obtain from the Company during the term of the Agreement (after deducting relevant taxes) to the Pledgee or the entity/individual designated by the Pledgee;

  

	 	(12)	 In the event of a breach of contract, if the Company is required to be dissolved or liquidated as per
compulsory provisions of applicable laws, any interest distributed to the Pledgors (after deducting relevant taxes) according to law upon completion of legal dissolution or liquidation of the Company shall be gifted to the Pledgee or the
entity/individual designated by the Pledgee to the extent not in violation of the PRC Law.. 

 Article 9 Change of
Circumstances 
  

	9.1	 As supplement and subject to compliance with other terms of the Transaction Agreements and the Agreement, if at
any time the promulgation or change of any PRC Law, regulations or rules, or change in interpretation or application of such laws, regulations and rules, or the change of the relevant registration procedures enables the Pledgee to believe that it
will be illegal or in conflict with such laws, regulations or rules to further maintain the effectiveness of the Agreement and/or dispose of the Pledged Equity in the way provided herein, the Pledgors shall, at the written direction of the Pledgee
and in accordance with the reasonable request of the Pledgee, promptly take any action and/or execute any agreement or other document, in order to: 

  

	 	(1)	 keep the Agreement effective; 

 

	 	(2)	 facilitate the disposal of the Pledged Equity in the way provided herein; and/or 

 

	 	(3)	 maintain or realize the guarantee established or intentionally established hereunder. 

 Article 10 Effectiveness and Term of This Agreement 

 

	10.1	 This Agreement shall become effective upon due execution by all the Parties. 

 

	10.2	 The Pledgors shall register the Equity Pledge under the Agreement with the administration for industry and
commerce with jurisdiction over the Company, and provide the Pledgee with the registration certificate of the Equity Pledge in a form satisfactory to the Pledgee. The Pledgee shall give full cooperation. 

 

	10.3	 This Agreement shall have its valid term until the full performance of the Contract Obligations, the
termination or invalidation of the Transaction Agreements, the termination of Contract Obligations due to legal reasons or the full repayment of the Guaranteed Liabilities (whichever is earlier), unless the Parties agree otherwise.

 Article 11 Notice 
  

	11.1	 Any notice, request, demand and other correspondences required by the Agreement or made in accordance with the
Agreement shall be delivered in writing to the relevant Party. 

  

	11.2	 Any notice hereunder shall be sent to the following addresses (unless changes are notified in writing) by
personal delivery, facsimile or registered mail. It shall be deemed as served on the date of receipt recorded on the receipt of the registered mail if posted by registered mail; it shall be deemed as served on the date of transmission if delivered
in person or transmitted by facsimile. If it is transmitted by facsimile, the original shall be sent to the following addresses by registered mail or personal delivery. 

Pledgee: Nanjing Xinmu Information Technology Co., Ltd. 

Address: No. 10-396, Fenghuang Street, Jiangpu Street, Pukou District, Nanjing 

Tel: *********** 
 Email:
*********** 
 Recipient: Chao GUO 

Pledgor: Chao GUO 

Address: 
 Fax: 

Tel: *********** 
 Email:
*********** 

 Pledgor: Zhongshu ZHAI 

Address: 
 Fax: 

Tel: *********** 
 Email:
*********** 
 Company: Nanjing Xingmu Biotechnology Co., Ltd. 

Address: Room 201, Building 6 (Yuetalou), 18 Fenghua Road, Yuhua Economic Development Zone, Nanjing 

Tel: *********** 
 Email:
*********** 
 Recipient: Chao GUO 

Article 12 Miscellaneous 
  

	12.1	 The Pledgors and the Company agree that the Pledgee may, upon notice to the Pledgors and the Company, transfer
its rights and/or obligations hereunder to any third party; and that without prior written consent of the Pledgee, neither the Pledgors nor the Company may transfer their respective rights, obligations or liabilities hereunder to any third party.
Successors or permitted assignees (if any) of the Pledgors and the Company shall continue to perform the obligations of the Pledgors and the Company under the Agreement. 

 

	12.2	 This Agreement is written in Chinese and executed in counterparts, with one (1) to be retained by each
Party hereto, one (1) to be used for registration of the pledge with the relevant administration for industry and commerce, and the rest to be used for relevant procedures. All counterparts shall have the same legal effect.

  

	12.3	 The conclusion, effectiveness, performance, revision, interpretation and termination of the Agreement shall be
governed by the PRC Law. 

  

	12.4	 Any dispute arising out of and in connection with the Agreement shall be resolved through negotiation among the
Parties. In case the Parties fail to reach an agreement within thirty (30) days after the dispute arises, such dispute shall be submitted to Nanjing Arbitration Commission for arbitration in Nanjing in accordance with such Commission’s
arbitration rules in effect at the time. The language used in arbitration shall be Chinese and the arbitration award shall be final and equally binding on the Parties hereto. 

	12.5	 None of the rights, powers or remedies granted to any Party by any provision herein shall preclude any other
rights, powers or remedies available to such Party at law and under the other provisions of the Agreement. In addition, a Party’s exercise of any of its rights, powers and remedies shall not exclude such Party from exercising any of its other
rights, powers and remedies. 

  

	12.6	 No failure or delay by any Party in exercising any rights, powers and remedies available to it hereunder or at
law (“Such Rights”) shall result in a waiver of Such Rights, nor shall the waiver of any single or part of Such Rights shall exclude such Party from exercising Such Rights in any other way and exercising other Such Rights.

  

	12.7	 The Annexes set forth in this contract is an integral part of it and shall have the same legal effect as the
provisions of the main body of it. 

  

	12.8	 The headings of the provisions herein are for reference only, and in no event shall such headings be used for
or affect the interpretation of the provisions hereof. 

  

	12.9	 Each provision contained herein shall be severable and independent from each of the other provisions. If any
one or more provisions herein become(s) invalid, illegal or unenforceable at any time, the validity, legality and enforceability of the remaining provisions herein shall not be affected as a result thereof. 

 

	12.10	 Any amendments or supplements to the Agreement shall be made in writing and take effect only when properly
signed by the Parties to the Agreement. 

  

	12.11	 This Agreement shall be binding on the legal successors of the Parties. 

[The remainder of this page is intentionally left blank] 

 [Signature Page of Equity Pledge Agreement] 

IN WITNESS WHEREOF, the Agreement is signed by the Parties on the first above written date and place hereof. 

 

			
	Nanjing Xinmu Information Technology Co., Ltd. (Seal)
	
	/s/ Seal of Nanjing Xinmu Information Technology Co., Ltd.
		
	Signature:	 	 /s/ Chao
GUO                            

	Name:	 	Chao GUO
	Title:	 	General Manager
	
	Nanjing Xingmu Biotechnology Co., Ltd. (Seal)
	
	/s/ Seal of Nanjing Xingmu Biotechnology Co., Ltd.
		
	Signature:	 	 /s/ Chao GUO
                                    

	Name:	 	Chao GUO
	Title:	 	General Manager
		
	Chao GUO	 	 /s/ Chao GUO

			
		
	Zhongshu ZHAI	 	 /s/ Zhongshu
ZHAI                

 Annex I : 

General Information of the Company 

Company name: Nanjing Xingmu Biotechnology Co., Ltd. 
 Ownership
structure: 
  

									
	 Names of shareholders
	  	Contribution in the
Company’s
Registered Capital
(RMB)	 	  	Shareholding
percentage	 
	 Chao GUO
	  	 	2,500,000	 	  	 	42.75	% 
	 Zhongshu ZHAI
	  	 	2,500,000	 	  	 	42.75	% 
	 GuangCheng (Shanghai) Information Technology Co., Ltd.
	  	 	847,950	 	  	 	14.50	% 
		  	  
	  
	 	  	  
	  
	 
	 Total
	  	 	5,847,950	 	  	 	100.00	%

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