Document:

EX-4.12

 Exhibit 4.12 

Exclusive Service Agreement 

between 

Shanghai Jinpai E-Commerce Co., Ltd. 

and 
 Shanghai
Antuo Old Vehicle Broker Co., Ltd. 
 August 31, 2015 
  

 This Exclusive Services Agreement (this “Agreement”) is made and entered into by and between the
following two parties as of the August 31,, 2015 in Shanghai, The People’s Republic of China ( “PRC”). 
 SHANGHAI ANTUO OLD VEHICLE
BROKER CO., LTD. (“Shanghai Antuo”), a limited liability company organized and existing under the laws of the PRC, with its legal address at Seat E3-9, Building 15, 2907 Zhongshan North Road, Putuo
District, Shanghai, PRC; and 
 SHANGHAI JINPAI E-COMMERCE CO., LTD. (the “WFOE”), a wholly foreign-owned
enterprise organized and existing under the laws of the PRC, with its legal address at Room 602, 6/F, No.38 Yinglun Road, Shanghai Pilot Free Trade Zone, Shanghai, PRC. 

RECITALS 
 WHEREAS, Shanghai Antuo has received
relevant Governmental Approvals to engage in Business Operation (as defined below) in the PRC; 
 WHEREAS, Shanghai Antuo wishes to enter into an Exclusive
Services Agreement with the WFOE, whereby it will provide it with various supporting services in respect of technology and operation; 
 WHEREAS, subject to
the terms and conditions of this Agreement, the WFOE agrees to provide exclusively to Shanghai Antuo with technical and operational Supporting Services (as defined below) in relation to the Business Operation of Shanghai Antuo; 

Moreover, at the same time of execution of this Agreement, the shareholders of Shanghai Antuo shall pledge all of the equity interests held by her in Shanghai
Antuo to WFOE and enter into an equity pledge agreement as security for its performance of this Agreement. The shareholders of Shanghai Antuo shall enter into an Exclusive Equity Option Agreement with WFOE, whereby the shareholders of Shanghai Antuo
may grant to WFOE an exclusive equity transfer option to enable WFOE to purchase the equity interests of Shanghai Antuo on an exclusive basis. 
 NOW,
THEREFORE, in consideration of the above premises and the undertakings and agreements of the Parties, the Parties agree as follows: 

ARTICLE 1 DEFINITIONS 
  

	1.1	 Unless otherwise defined in this Agreement, the following terms whenever used in this Agreement shall have the
meanings set forth below: 

  

	 	(a)	 “Affiliate” means any Person that directly or indirectly owns or exercises control of any other
Person, or in which such Person directly or indirectly owns or exercises control of other Person or otherwise directly or indirectly is under common ownership or control with any other Person. 

	 	(b)	 “Business Plan” means the annual business plan and forecast prepared by Shanghai Antuo under
the guidance of the WFOE. 

  

	 	(c)	 Calculation, including financial budget, capital investment, disposal and borrowing plans and revenue and
expenditure forecast relating to Business Operation. 

  

	 	(d)	 “Confidential Information” means all technologies, know-how,
processes, software, proprietary data, trade secrets, industry practices, methods, specifications, designs and other proprietary information, as well as the terms of this Agreement and other confidential business and technical information disclosed
by the WFOE to Shanghai Antuo in accordance with the terms of this Agreement or other documents. 

  

	 	(e)	 “Agreement” means this Exclusive Service Agreement, as the same may be amended, supplemented
or otherwise modified from time to time, including its Annexes. 

  

	 	(f)	 “Control” means the power to designate or appoint the management of a Company. The terms
“Controlling” and “Controlled” shall have meanings correlative to the foregoing. 

  

	 	(g)	 “Party” means either the WFOE or Shanghai Antuo and “Parties” means both of the WFOE
and Shanghai Antuo. 

  

	 	(h)	 “Person” means individual, corporation, joint venture, enterprise, partnership, trust,
unincorporated association, limited liability company, government or any department or agency thereof or any other entity. 

  

	 	(i)	 “Revenue” means all revenue generated from the operation of the Business conducted by Shanghai Antuo,
including without limitation (i) the revenue obtained by Shanghai Antuo in accordance with the relevant agreement entered into between Shanghai Antuo or its affiliate and a third party, and (ii) the service revenue obtained by Shanghai
Antuo from relevant derivative products (if any). 

  

	 	(j)	 “Service Fees” shall have the meaning set forth in Section 3.1 of this Agreement.

  

	 	(k)	 “Supporting Services” means the customer support, technical support, operational support and
all other services to be provided by the WFOE to Shanghai Antuo under this Agreement in relation to the operation of the Business, as more fully described in Annex I hereto. 

	 	(l)	 “Business Operation” means the services or operations that Shanghai Antuo currently provides or will
provide in the future, including but not limited to (i) the used-car advertisement release, consulting and other operations conducted on the website www.ttpai.cn, and (ii) business operation
relating to the foregoing business. 

  

	 	(m)	 “Expenses” means the expenses incurred by Shanghai Antuo in connection with the Business
Operation, including without limitation, employee remuneration, office expenses, rent, etc. 

  

	 	(n)	 “Quarter” means a period of three (3) months commencing with 1 January, 1 April,
1 July and 1 October of each year on the Gregorian calendar. 

 ARTICLE 2 EXCLUSIVE SUPPORTING SERVICES AND
BUSINESS OPERATION 
  

	2.1	 Exclusive Support of Services 

In order to facilitate Shanghai Antuo to carry out the Business Operation, Shanghai Antuo agrees to engage the WFOE as its exclusive technical
and operational consultancy, who will provide Shanghai Antuo with the Supporting Services described in Annex I hereto on an exclusive basis; and Shanghai Antuo agrees to accept all the Supporting Services provided by the WFOE. The Parties agree to
amend and update Annex I hereto from time to time in writing to indicate all areas, scope and duration of the Supporting Services to be provided to Shanghai Antuo. The WFOE shall be the exclusive supplier to Shanghai Antuo for providing the
Supporting Services, whether through contractual arrangements or other forms of cooperation. Without the written consent of the WFOE, Shanghai Antuo shall not engage any third party in any form to provide the same or similar services provided by the
WFOE hereunder. 
  

	2.2	 Collection revenue 

In the event that the WFOE and Shanghai Antuo jointly make a decision that WFOE shall collect all or part of the revenue, Shanghai Antuo shall
issue invoices (“invoices”) for the business operations it is engaged in and send the invoices to the WFOE; provided that the WFOE and Shanghai Antuo jointly make such decision that the WFOE shall collect the revenue on behalf of
Shanghai Antuo, Shanghai Antuo shall issue invoices based on the actual revenues so collected by WFOE. 
  

	2.3	 Changes in PRC Laws 

If, after the Effective Date, any central or local governmental authority of the PRC amends the provisions of any central or local PRC law,
regulation, decree or provision, including the amendment, supplement or repeal of existing law, regulation, decree or provision, or the citation of a different interpretation or method of implementation of existing law, regulation, decree or
provision (each, a “Amendment”), or promulgates a new law, regulation, decree or provision (each, a “New Provision”), the provisions shall apply as follows: 

	 	(a)	 If the Amendments or New Provisions are more favorable to a Party than (and the other Party is not seriously
and adversely affected by) such relevant laws, regulations, rules or provisions in effect as of the Effective Date, the Parties shall promptly apply to the relevant authorities (if necessary) to obtain the benefit of such amendments or new
provisions. The Parties shall make their best efforts to cause such application to be approved. 

  

	 	(b)	 If the economic interests of the WFOE under this Agreement are, directly or indirectly, seriously and adversely
affected due to amendments or new provisions, this Agreement shall continue to be implemented in accordance with its original terms. If the adverse effect of the economic interests of the WFOE cannot be resolved in accordance with this Agreement,
upon WFOE’s notification to Shanghai Antuo, the Parties shall promptly consult with each other to make all necessary amendments to this Agreement to maintain the economic interests of the WFOE under this Agreement. 

 

	2.4	 Exclusive Equity Option 

Shanghai Antuo hereby grants to the WFOE an irrevocable and exclusive option to purchase from Shanghai Antuo, at its sole discretion, any or
all of the assets of Shanghai Antuo, to the extent permitted under the PRC laws and regulations, at the lowest purchase price permitted by the PRC laws. In this case, the Parties shall enter into a separate assets transfer agreement, specifying the
terms and conditions of the transfer of the assets. 
 ARTICLE 3 SERVICE FEES 

 

	3.1	 Service Fees 

In consideration of the Supporting Services provided by the WFOE, Shanghai Antuo shall pay to the WFOE a service fee (the “Service
Fees”) on a quarterly basis throughout the entire term of this Agreement, the amount of the Service Fees shall be verified and determined by the Parties based on the actual services provided, however, that the aggregate amount of the Service
Fees shall be equal to income minus expenses. In the event that the WFOE collects revenue for Shanghai Antuo as set forth in Section 2.2, it shall deduct the Service Fees from the revenue it collects on behalf of Shanghai Antuo and pay the
remaining revenue to Shanghai Antuo on a quarterly basis. 
 If the Parties fail to reach an unanimous agreement on the Service Fees for the
quarter within thirty days after such quarter ends, the Service Fees for such quarter shall be subject to the amount verified and determined by the WFOE. 

	3.2	 Payment 

  

	 	(a)	 Unless the full amount of the Service Fees is deducted by the WFOE from revenue, Shanghai Antuo shall pay the
Service Fees to the WFOE within forty days after the end of the relevant quarter. Such payment shall be made to the account of the WFOE via bank transfer. The Parties agree that the WFOE may amend the above payment instructions from time to time and
must notify Shanghai Antuo in writing of each such amendment. 

  

	 	(b)	 If the WFOE collects revenue, it shall pay the remaining amount as provided in Section 3.1 above to
Shanghai Antuo after deducting the Service Fees within forty days after the end of the relevant quarter. The payment shall be made to the account of Shanghai Antuo by way of bank transfer. The Parties agree that Shanghai Antuo may amend the above
payment instructions from time to time and must notify the WFOE in writing of each such amendment. 

  

	3.3	 Financial Statements 

Shanghai Antuo shall establish and implement the accounting system and prepare financial statements (“PRC Financial Statements”) in
accordance with the relevant laws, regulations, accounting systems and accounting standards of PRC. If the WFOE and Shanghai Antuo consider necessary, they may prepare separate financial statements according to IFRS or US GAAP. Shanghai Antuo
shall submit Shanghai Antuo’s PRC Financial Statements and other reports, which allows the WFOE to check the amount of the revenue collected and the amount of the services fees payable by Shanghai Antuo to the WFOE under Section 3.1 above,
within 21 days after the end of each calendar month to the WFOE. The WFOE has the right to audit all financial statements and other relevant information of Shanghai Antuo at any working time, provided that it shall give Shanghai Antuo a reasonable
prior notice to such audit. 
 ARTICLE 4 RESPONSIBILITIES OF THE PARTIES 

 

	4.1	 Responsibilities of Shanghai Antuo: 

In addition to those responsibilities set out in other articles of this Agreement, Shanghai Antuo shall have the following responsibilities:

  

	 	(a)	 not accept the same or similar Supporting Services provided by any Third Party without the prior written
consent from the WFOE, ; 

  

	 	(b)	 Accept all the Supporting Services provided by the WFOE and all reasonable suggestions in relation thereto;

	 	(c)	 Prepare the Business Plan with the assistance of the WFOE, ; 

 

	 	(d)	 Conduct the Business Operation with the assistance of the WFOE; 

 

	 	(e)	 Provide the WFOE with any technical or other materials as the WFOE may consider necessary and allow the WFOE to
have access to such facilities as the WFOE considers necessary or useful to the Supporting Services provided herein; 

  

	 	(f)	 Establish and maintain a separate unit of account for the Business Operation; 

 

	 	(g)	 Provide invoices issued for its Business Operation on a monthly basis within five working days of the end of
each calendar month., if the WFOE collects revenue in accordance with Section 2.2, 

  

	 	(h)	 Conduct the Business Operation and operation of other business of the Company in strict accordance with the
Business Plan and the mutual decisions of the WFOE and Shanghai Antuo; 

  

	 	(i)	 If Shanghai Antuo wishes to enter into a material cotract with any third party, it shall obtain the written
consent of the WFOE prior to the execution of such material cotract; material cotract means cooperation, transfer of equity, financing or any other contracts, agreements, covenants or undertakings, written or oral, with any third party that may
affect the interests of the WFOE herein or may result in the decision of the WFOE to make any change in or early termination of this Agreement. 

  

	 	(j)	 Conduct the Business Operation in an effective, prudent and legal manner in order to achieve maximum earnings;

  

	 	(k)	 Assist the WFOE and provide full cooperation to the WFOE in all matters necessary for it to effectively perform
its duties and obligations under this Agreement; 

  

	 	(l)	 Report to the WFOE all contacts with relevant administrative authorities of industry and commerce and promptly
provide the WFOE with copies of all documents, permits, consents and authorizations obtained from the relevant administrative authorities of industry and commerce; 

 

	 	(m)	 For sake of the Supporting Services, assist the WFOE in conducting, establishing and maintaining relations with
other relevant departments, agencies and other entities of the PRC government, provincial and local governments, and in obtaining all permits, licenses, consents and authorizations required for the above work; 

	 	(n)	 Assist the WFOE in obtaining the exemption from import duties and import taxes on all assets, materials and
supplies required for the provision of the Services by the WFOE; 

  

	 	(o)	 Assist the WFOE in purchasing equipment, materials, supplies, labors and other services in PRC to meet the
requirements of the WFOE at competitive prices; 

  

	 	(p)	 Conduct operations and carry out all procedures necessary in respect of the operation of the PRC in accordance
with all relevant laws and regulations of PRC; 

  

	 	(q)	 Provide the WFOE with copies of relevant laws, regulations, decrees and rules of the PRC and other relevant
documents required by the WFOE; 

  

	 	(r)	 Maintain the accuracy and validity of each of the representations and warranties given by Shanghai Antuo under
the provisions of Article 5 of this Agreement during the Term of this Agreement; 

  

	 	(s)	 Maintain and promptly renew all rights, licenses and authorizations necessary for Shanghai Antuo to carry out
the Business Operation contemplated by this Agreement to maintain the validity and full legal effect of such rights, licenses and authorizations; 

  

	 	(t)	 Strictly perform its obligations under this Agreement and any of the other Related Agreements to which it is a
party; 

  

	 	(u)	 The board of directors of Shanghai Antuo shall be nominated by the board of WFOE to shareholders of Shanghai
Antuo and appointed by the meeting of shareholders of Shanghai Antuo based on such nomination; and 

  

	 	(v)	 The senior management personnel of Shanghai Antuo (including but not limited to the General Manager, the CFO
and the Operating Director) shall be nominated by the Board of WFOE to the Board of Shanghai Antuo and appointed by the Board of Shanghai Antuo in accordance with such nomination. 

 

	4.2	 RESPONSIBILITIES OF THE WFOE 

In addition to other responsibilities set forth in this Agreement, the WFOE shall also bear the following responsibilities: 

 

	 	(a)	 Provide supporting services to Shanghai Antuo in an effective manner and respond to requests from Shanghai
Antuo for advice and assistance in a timely and conscientious manner; 

	 	(b)	 Assist Shanghai Antuo in preparing business plans of Shanghai Antuo in relation to the operation of the
Business; 

  

	 	(c)	 Assist Shanghai Antuo in the conduct of theBusiness Operation; 

 

	 	(d)	 Provide competent personnel to Shanghai Antuo for the Business Operation; 

 

	 	(e)	 Collect revenues in respect of the operation of the Business in accordance with Section 2.2; and

  

	 	(f)	 Strictly perform its obligations under this Agreement and any other related Agreements to which it is a party.

 ARTICLE 5 REPRESENTATIONS AND WARRANTIES 
  

	5.1	 REPRESENTATIONS AND WARRANTIES OF Shanghai Antuo 

Shanghai Antuo represents and warrants to and agrees with the WFOE as follows: 

 

	 	(a)	 Shanghai Antuo is a limited liability company duly organized and validly existing under the PRC laws;

  

	 	(b)	 Shanghai Antuo has full corporate power to execute and deliver this Agreement and to fully perform its
obligations hereunder. Upon execution, this Agreement shall constitute legal, valid and binding obligations of Shanghai Antuo and is enforceable against Shanghai Antuo in accordance with its terms; 

 

	 	(c)	 Shanghai Antuo holds any and all governmental permits, licenses, authorizations, approvals and facilities
required for the operation of the Business during the term of this Agreement and Shanghai Antuo shall ensure that all the above governmental permits, licenses, authorizations and approvals will continue to be valid and legally effective throughout
the entire term of this Agreement. Shanghai Antuo represents and warrants that no other governmental permits, licenses, authorizations or interconnection agreements are required for its operation of the Business during the term of this Agreement and
that in the event that any and all governmental permits, licenses, authorizations and approvals required for its operation of the Business during the term of this Agreement are required to be changed and/or supplemented due to the change in the
relevant regulations, Shanghai Antuo shall make such changes and/or supplements within the shortest possible time. 

  

	 	(d)	 Shanghai Antuo is, has been and will continue to be, in compliance with all applicable PRC laws and regulations
and is not aware of any violation of PRC laws or regulations or of any circumstance that prohibits Shanghai Antuo from performing its obligations under this Agreement; 

	 	(e)	 Neither the execution of this Agreement nor the performance by Shanghai Antuo of its obligations hereunder will
conflict with, violate or breach (i) any provision of the business license or articles of association of Shanghai Antuo, (ii) any law, by-law, ordinance, authorization or approval of any governmental
agency or agency applicable to Shanghai Antuo or (iii) Any provisions of any Agreement to which Shanghai Antuo or any of its Affiliates is a party or person; 

 

	 	(f)	 There are no pending or, to the knowledge of Shanghai Antuo, threatened litigation, arbitration, legal,
administrative or otherwise proceedings or governmental investigation against Shanghai Antuo or any of its Affiliates relating to the granting of the licenses and permits of Shanghai Antuo or the subject matter of this Agreement, or that could
affect in any way the ability of WFOE or Shanghai Antuo to enter into or perform this Agreement or the ability of Shanghai Antuo to conduct the Business during the term of this Agreement; and 

 

	 	(g)	 All documents, statements and materials in the possession of Shanghai Antuo or any of its Affiliates in
connection with the transactions contemplated hereby have been disclosed to the WFOE, and no document previously provided by Shanghai Antuo or any of its Affiliates to the WFOE contains any untrue statement of material fact or omits to state any
material fact necessary to make the statements contained in this Agreement not misleading. 

  

	5.2	 Representations and Warranties of WFOE 

独资企业向上海谨务作出如下陈述和保证并与上海谨务协定如下:
 
 The WFOE represents and warrants to Shanghai Antuo and agrees with Shanghai Antuo as follows: 

 

	 	(a)	 The WFOE is a wholly foreign-owned enterprise, duly organized and validly existing under the laws of the PRC;

  

	 	(b)	 The WFOE has full corporate power required to execute and deliver this Agreement and perform its obligations
hereunder. Upon execution, this Agreement shall constitute legal, valid and binding obligations of the WFOE, and is enforceable against it in accordance with its terms; 

Neither the execution of this Agreement nor the performance by the WFOE of its obligations hereunder will conflict with, violate or breach:
(i) any provisions of the business license or articles of association of the WFOE; (ii) any law, by-law, regulation, authorization or approval of any governmental agency or agency applicable to the
WFOE or (iii) Any provision of contracts and agreements to which the WFOE is a party or a subject; 

	 	(c)	 There are no pending or, to the knowledge of the WFOE, threatened litigation, arbitration, legal,
administrative or other proceedings or governmental investigation against the WFOE with respect to the subject matter of this Agreement or that could affect in any way the ability of the WFOE to enter into or perform this Agreement; and

  

	 	(d)	 All documents, statements and materials in the possession of the WFOE from any Governmental Authority in
connection with the transactions contemplated hereby have been disclosed to Shanghai Antuo and no document previously provided by the WFOE to Shanghai Antuo contains any untrue statement of material fact or omits to state any material fact necessary
to make the statements contained in this Agreement not misleading. 

 ARTICLE 6 TERM AND TERMINATION 

 

	6.1	 TERM 

This Agreement shall become effective on the date when it is signed or stamped by the legal representatives or authorized representatives of
the Parties (the “Effective Date”) and shall continue for a term of ten years. At the expiration of each ten-year period, this Agreement may be automatically renewed for further ten years,
unless the Parties agree that this Agreement is not to be extended. 
  

	6.2	 TERMINATION 

  

	 	6.2.1	 If a Party becomes bankrupt and is the subject of proceedings for liquidation or dissolution, or ceases to
carry on business or are unable to pay its debts which becomes due, and such condition or event is continuing, the WFOE may terminate this Agreement by giving no less than five days’ written notice of termination. 

 

	 	6.2.2	 Except for conditions provided in Article 6.2.1, the WFOE shall be entitled to terminate this Agreement
unilaterally if any of the following circumstances or events occurs: 

  

	 	(a)	 The performance of this Agreement becomes commercially impracticable in any material respect due to any order,
action, regulation, interference or intervention of any government or any agency thereof. 

  

	 	(b)	 Shanghai Antuo has been prevented from performing its obligations for a period of six consecutive months or
more as a result of a Force Majeure Event (as defined in Article 9 below); 

	 	(c)	 All or a material portion of the assets or property of Shanghai Antuo necessary for Shanghai Antuo to perform
this Agreement is seized, banned, expropriated or subject to material governmental restrictions not in existence on the date hereof; 

  

	 	(d)	 Shanghai Antuo fails to perform any of its material obligations under this Agreement and fails to correct that
breach within 30 days after the WFOE has provided Shanghai Antuo with a written notice specifying in detail how Shanghai Antuo is in breach of this Agreement; or 

 

	 	(e)	 Aware of any untrue or misrepresentation in the representations and warranties made by Shanghai Antuo under
this Article 5.1 or any breach by Shanghai Antuo of any covenant, undertaking or agreement under this Agreement. 

  

	 	6.2.3	 The Parties agree and acknowledge that in no circumstance shall Shanghai Antuo require termination of this
Agreement for any reason. 

  

	7	 RIGHT TO TERMINATE 

Any such termination shall not affect the performance of the liability and indemnity provisions set forth in this Section 9.2. 

 

	8	 EFFECT OF TERMINATION 

Early termination or expiration of this Agreement for any reason shall not exempt either Party from its obligation to make all payments
hereunder that become due on or prior to the date of termination or expiration of this Agreement (including, without limitation, any service fees and reimbursable expenses specified herein), nor shall it exempt either Party from its obligation of
compensation or warranty hereunder, nor shall it exempt either Party from any liabilities for breach before the termination of this Agreement. In addition, in the event of any early termination of this Agreement, Shanghai Antuo shall pay to the WFOE
all cost arising directly or indirectly from any reasonable and necessary activities undertaken by WFOE for the purposes of orderly termination of ongoing services, as well as for the demobilization and reallocation of the human and capital
resources devoted to such services. 

 ARTICLE 7 CONFIDENTIALITY AND INTELLECTUAL PROPERTY 

 

	7.1	 CONFIDENTIALITY 

Shanghai Antuo and its Personnel shall use all confidential materialss only for the benefit of Shanghai Antuo and for the purposes stated
hereunder. Shanghai Antuo shall be responsible for keeping all confidential materials that may be divulged or made available by the WFOE and, unless otherwise provided in this Agreement, Shanghai Antuo shall not disclose or divulge any such
confidential materials to any third party without the express written authorization of the WFOE. 
  

	7.2	 CONFIDENTIALITY MEASURES 

Both Parties shall take all necessary confidentiality measures and precautions to safeguard the confidentiality of Confidential Information.
The confidentiality measures and precautions shall be consistent with the measures and precautions the Parties take respectively to protect their own respective sensitive information. In any event, the measures and precautions shall be at least the
standards that a reasonable business entity would adopt to protect its own highly confidential information and trade secrets. 
  

	7.3	 PERMITTED DISCLOSURES 

The Confidential Information received by a Party subject to this Article shall be disclosed only to such employees, officers and directors of
the WFOE who need to know such information in their work for the implementation of this Agreement. In such case, the Party to whom the information is given shall take all reasonable precautions, including executing confidentiality agreement with
each of the above employees or insertingconfidentiality clauses in labor contract, to prevent each of the above employee from using confidential materials for their personal benefit and to disclose any confidential materials to any third party
without authorization. 
  

	7.4	 DISCLOSURE TO GOVERNMENTAL AUTHORITIES 

Notwithstanding the foregoing, to the extent necessary to obtain any governmental approvals for either Party’s operation of its business,
the Parties may disclose the Confidential Information to government personnel, as well as to its external or internal lawyers, accountants, consultants and advisors who need to know such information for such Party’s professional assistance.
However, Confidential Information so disclosed shall be marked “Confidential” and such government personnel and outside sources shall be required to undertake to abide by the confidentiality terms of this Agreement. Both Parties may also
disclose Confidential Information if required by applicable law, stock exchange rules or regulations or judicial orders. Prior to any disclosure under this Section 7.4, the disclosing Party shall, as the case may be and in accordance with any
practicable confidentiality arrangements, give the other Party prior notice of such disclosure. 

	7.5	 Exceptions 

Nothing in this Section 7 shall prevent any party from using or disclosing any Confidential Information which: (i) is already known
to the receiving party at the time of its disclosure; (ii) lawfully obtained from a third party without any breach of confidentiality agreement; (iii) becomes publicly available through no wrongful act of the receiving party; or
(iv) is independently developed by the receiving party without any use, directly or indirectly, of the Confidential Information. 
  

	7.6	 Compensation 

The Parties agree that in the event of any breach of this Section 7, the Party whose Confidential Information is disclosed (“Ignorant
Party”) will suffer irreparable harm and that any monetary compensation that may be available to the Ignorant Party would be an inadequate remedy. Therefore, it is agreed that the ignorant Party shall be entitled to other rights and
remedies available under laws or this Agreement. 
  

	7.7	 Intellectual Property Rights 

The WFOE shall have exclusive and proprietary rights and interests in and shall have the right to use without compensation all rights,
ownership, interests and intellectual properties arising out of or created by the WFOE and/or Shanghai Antuo in connection with the performance of this Agreement, including but not limited to copyrights, patents, patent applications, software,
technical secrets, trade secrets and others. 
 For the purpose of operating the business of the Company, the WFOE agrees that Shanghai Antuo
will register some Intellectual Property Rights designated by the WFOE under the name of Shanghai Antuo. However, upon request by the WFOE, Shanghai Antuo shall transfer to the WFOE the aforementioned Intellectual Property Rights registered in the
name of Shanghai Antuo free of charge or at the lowest price permitted by law and Shanghai Antuo shall execute all appropriate documents, take all appropriate actions, submit all filings and/or applications, render all appropriate assistance and do
all other acts deemed necessary by the WFOE in its sole discretion for the purpose of vesting any ownership, right and ownership of such Intellectual Property Rights in the WFOE and/or perfecting the protections of such Intellectual Property Rights
in the WFOE. The WFOE shall have the right to use any Intellectual Property Rights registered in the name of Shanghai Antuo free of charge. 
  

	7.8	 Survival 

The provisions of this Section 7 shall survive any termination or expiration of this Agreement. Upon any such expiration or termination,
any Receiving Party shall return all Confidential Information to the Disclosing Party, or if unable to do so, destroy all Confidential Information with the consent of the Disclosing Party and cease to use the Confidential Information for any
purpose. 

 ARTICLE 8 COMPLIANCE WITH LAWS, APPLICABLE LAWS AND SETTLEMENT OF DISPUTES 

 

	8.1	 Applicable Laws 

The effectiveness, interpretation, performance of this Agreement and the dispute resolution shall be governed by the laws of the People’s
Republic of China. 
  

	8.2	 Settlement of Disputes 

Any disputes arising from the performance of this agreement or in connection with this agreement shall be resolved through both parties’
consultation. If the dispute cannot be settled within 30 days, either party may submit the dispute to Shanghai Sub-Commission of China International Economic and Trade Arbitration Commission in Beijing. There
shall be three (3) arbitrators appointed according to the rules of China International Economic and Trade Arbitration.The arbitral award is final and binding upon any of the Parties. During the period when a dispute is being resolved, except
for the matters in dispute, the Parties shall continue to perform the other terms of this Agreement. 
 ARTICLE 9 FORCE MAJEURE,
RELATIONSHIP, LIABILITY AND INDEMNIFICATION 
  

	9.1	 Force Majeure 

 

	 	9.1.1	 The term Force Majeure refers to any unforeseeable event beyond the reasonable control of any party , including
without limitation earthquakes, typhoons, floods, fires and other natural disasters, war, riot and similar military action, civil commotion and strikes, slowdowns, embargoes, requisitions, injunctions or other restraints or actions by governmental
authorities (except for such acts or restrictions of governmental authorities which have administrative authority over Shanghai Antuo or any of its affiliates, if Shanghai Antuo is the obstructed party), or otherwise due to any reason that prevents
the performance of this Agreement (a “Force Majeure Event”), which directly renders a Party unable to perform all or part of its obligations under this Agreement (the “Obstructed Party”), it shall not be deemed a breach of this
Agreement, as long as all of the following conditions are met: 

  

	 	(a)	 Shutdown, obstacles or delay encountered by the Obstructed Party in performing its obligations under this
Agreement resulting directly from Force Majeure Event; 

  

	 	(b)	 The Obstructed Party has used its best efforts to perform its obligations hereunder and reduce the losses
suffered to the other Party due to the Event of Force Majeure; and 

	 	(c)	 When an Event of Force Majeure occurs, the Obstructed Party shall immediately notify the other Party and
provide written information concerning the event including a statement stating the reasons for the delay or partial performance of this Agreement within 15 days of the occurrence of the Force Majeure Event. 

 

	 	9.1.2	 In case of an Event of Force Majeure, the Parties shall, in accordance with the impact of the event on the
performance of this Agreement, decide whether to amend this Agreement and whether to partially or wholly exempt the Obstructed Party from its obligations under this Agreement. 

 

	9.2	 LIABILITY AND INDEMNITY 

(a) It is expressly understood that the WFOE makes no warranty to Shanghai Antuo regarding the performance of the Services or any assets or the
suitability of any assets for any particular use. The WFOE expressly disclaims all warranties, including but not limited to the implied warranties of merchantability and fitness for a particular purpose. 

(b) Shanghai Antuo agrees to indemnify the WFOE against any and all liabilities, obligations, losses, damages, penalties, judgments, lawsuits
and attorney’s fees, costs and expenses suffered, incurred or alleged against it arising out of or in connection with (i) any untrue or misrepresentation in the representations and warranties made by Shanghai Antuo under Article 5.1; or
(ii) any breach of any warranties, undertakings or agreements under this Agreement. 
 (c) Without prejudice to Sections 9.2 (a) and 9.2
(b) of this Agreement, either Party shall be liable to the other Party in respect of any loss, costs, claims, injuries, liabilities or expenses in connection with or arising out of any negligence or omission of the Parties in performing its
obligations under this Agreement but shall only be limited to the amount of the actual direct damage or loss whatsoever and shall not include loss of profit or indirect loss. 

ARTICLE 10 SURVIVAL 
  

	10.1	 Any obligations to make payments arising under this Agreement which is accrued or become due prior to the
expiration or early termination of this Agreement, shall survive the expiration or early termination of this Agreement. 

  

	10.2	 The provisions of Sections 6.4, 7, 8, 9.2 and this Section 10 of this Agreement shall survive any
termination of this Agreement. 

 ARTICLE 11 NOTICES 

Notices or other communications required to be given by either Party in accordance with this Agreement shall be written in Chinese and sent by personal
delivery, internationally recognized courier service or facsimile transmission to the address of the other Party set forth below or as otherwise designated address notified by the other Party from time to time. The dates on which notices shall be
deemed to have been effectively given shall be determined as follows: 
  

	(a)	 Notices given by personal delivery shall be deemed to have been effectively given on the date of personal
delivery; 

  

	(b)	 Notices given by an internationally recognized courier service shall be deemed effectively given on the third
day after the date of delivery to the relevant courier service; and 

  

	(c)	 Notices given by facsimile transmission shall be deemed effectively given on the first day that banks in the
PRC are generally open for business in the PRC after the date of transmission as shown on the transmission confirmation slip of the relevant document. 

Shanghai Antuo: 
 Shanghai Antuo Old Vehicle Broker Co.,
Ltd. 
 Address: Room 1301, Zhihui Plaza, No. 488 Wuning South Road, Shanghai,,PRC 

Postal Code: 200042 
 Attention: Jessica Chen 

WFOE: 
 Shanghai Jinpai
E-Commerce Co., Ltd. 
 Address: Room 1301, Zhihui Plaza, No. 488 Wuning South Road, Shanghai, ,PRC 

Postal Code: 200042 
 Attention: Jessica Chen 

ARTICLE 12 MISCELLANEOUS 
  

	12.1	 Severability 

If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced in compliance with any Law or governmental
policy, all other terms and provisions of this Agreement shall remain in effect for so long as the economic or legal substance of the transactions contemplated is not hereby affected and any Party is not adversely affected in any manner. Upon such
determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in
an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated. 

	12.2	 Expenses 

Without prejudice to any other provisions of this Agreement to the contrary, each Party shall pay its own expenses and advances in connection
with this Agreement; provided, however, that, in the event of any intentional or deliberate breach of this Agreement by either Party, the breaching Party shall compensate the non-breaching Party for all
expenses and advances in connection with this Agreement. Each Party shall pay any taxes that may be levied on the other Party, arising from, or in connection with, the transactions contemplated by this Agreement. 

 

	12.3	 Waiver 

No waiver of any provision of this Agreement shall be effective unless set forth in an instrument in writing signed by the Party granting the
waiver. No failure or delay by a Party in exercising any right, power or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or remedy under this Agreement preclude any further
exercise thereof or the exercise of any other right, power or remedy. Without limiting the foregoing, no waiver by either Party of any breach by the other Party of any provision hereof shall be deemed a waiver of any subsequent breach of that or any
other provision hereof. 
  

	12.4	 Assignment 

Neither this Agreement nor any of the rights, interests, or obligations hereunder may be assigned by any Party in whole or in part without the
prior written consent of the other Party, and any such attempted assignment without such consent shall be null and void. 
  

	12.5	 Successors and Assigns 

This Agreement shall be binding on the Parties, their successors and assigns. 

 

	12.6	 Entire Agreement 

This Agreement constitutes the entire and only agreement between the Parties with respect to the subject matter hereof, and supersedes all
prior agreements, contracts, understandings and communications between the Parties, either orally or in writing, with respect to the subject matter of this Agreement. 

	12.7	 Survival 

Without prejudice to Article 10, the provisions of this Agreement (including without limitation the warranties set forth in Article 5) that
have not been fully performed on the date of this Agreement shall remain in full force and effect after the date hereof. 
  

	12.8	 Further Assurance 

Each Party agrees to promptly execute such documents and take such further actions as may be reasonably necessary or desirable for the carrying
out or performing of the provisions and purposes of this Agreement. 
  

	12.9	 Amendment 

This Agreement shall not be amended, modified or supplemented except by an instrument in writing signed by the Parties. 

 

	12.10	 Counterparts 

This Agreement may be executed in one or more counterparts, all of which, taken together, shall be considered one and the same Agreement and
shall become effective when one or more counterparts have been signed by each Party and delivered to the other Party, it being understood that all Parties need not sign the same counterpart. This Agreement is made in two (2) counterparts in Chinese
language with the same legal effect. Each Party shall hold one counterpart. Each Party may make any duplicate copies as needed. 

 IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first written above.

 Party A: Shanghai Jinpai E-Commerce Co., Ltd.(Seal) 

Authorized Representative: Wang Weiwei 
 Signature:/Wang Weiwei/

 Party B: Shanghai Antuo Old Vehicle Broker Co., Ltd. (Seal) 

Authorized Representative: Wang Weiwei 
 Signature:/Wang Weiwei/

 Annex I 

List Of Supporting Services 
  

	1	 Services Relating to Daily Operation 

The WFOE warrants that it will keep Shanghai Antuo informed of current international developments and advanced experience relating to the
Business Operation of Shanghai Antuo and provide advice on major strategic decisions involved in the business development of Shanghai Antuo during the term of this Agreement, including without limitation assisting Shanghai Antuo in the following
aspects: 
  

	 	(a)	 Formulate relevant business plans and requirements based on international development trend and domestic market
needs, provide relevant management support to Shanghai Antuo; 

  

	 	(b)	 Conduct market research and formulate business promotion and development plans; 

 

	 	(c)	 Select and recommend business partners to Shanghai Antuo; 

 

	 	(d)	 Plan and operate the advertising business of Shanghai Antuo; 

 

	 	(e)	 Provide necessary financial support to Shanghai Antuo, including but not limited to account reconciliation and
collection services; 

  

	 	(f)	 Select qualified staff members for employment by Shanghai Antuo; and 

 

	 	(g)	 Provide other services as may be reasonably requested by Shanghai Antuo. 

 

	2	 Training 

In addition to the services set forth above, the WFOE shall also provide necessary business training for suitable promotion, management,
editing and marketing personnel of Shanghai Antuo to ensure the sound operation of Shanghai Antuo. Specific training programs will be determined by the Parties separately. 
  

	3	 Financial Support 

The WFOE shall assist Shanghai Antuo in arranging necessary financing to enable Shanghai Antuo to conduct its Business Operation. The amount of
financing required and the method of providing such financing shall be determined jointly by the WFOE and Shanghai Antuo. 
  

	4	 Equipment Asset Support; 

Upon consultation and agreement between the WFOE and Shanghai Antuo, the WFOE may lend its own or leased business equipment or other relevant
assets to Shanghai Antuo for the conduct of the Business. The specific terms and methods for the secondment shall be determined jointly by the WFOE and Shanghai Antuo. 

	5	 Personnel Support 

Based on the actual needs of the Business Operation of Shanghai Antuo, the WFOE shall select appropriate technical, management and other
necessary personnel to assist Shanghai Antuo in carrying out the Business Operation.EX-4.13

 Exhibit 4.13 

 
  

Loan Agreement 
  

 
 between

 Beijing Cheerbright Technologies Co., Ltd. 

and 
 Long Quan 

February 19, 2021 

 CONTENTS 
  

							
			
	1.	 	 DEFINITIONS AND INTERPRETATIONS
	  	 	3	 
			
	2.	 	 LOAN
	  	 	4	 
			
	3.	 	 CONDITIONS PRECEDENT
	  	 	6	 
			
	4.	 	 REPRESENTATIONS AND WARRANTIES
	  	 	6	 
			
	5.	 	 UNDERTAKINGS
	  	 	8	 
			
	6.	 	 ENFORCEMENT
	  	 	10	 
			
	7.	 	 CONFIDENTIALITY
	  	 	11	 
			
	8.	 	 DISPUTE RESOLUTION
	  	 	12	 
			
	9.	 	 INDEMNITY
	  	 	12	 
			
	10.	 	 MISCELLANEOUS
	  	 	12	 

  

			
	Loan Agreement	  	- 2 -

 THIS LOAN AGREEMENT (this “Agreement”) is entered into on February 19, 2021 in
Beijing, People’s Republic of China (“PRC”) 
 by and between 

 

	(1)	 Beijing Cheerbright Technologies Co., Ltd., a wholly foreign owned
enterprise duly incorporated and validly existing under the law of the PRC, with its registered address at Room 1010, F/10, Tower B, No. 3, Danling Street, Haidian District, Beijing 100080, China (“Party A”);

 and 
  

	(2)	 Long Quan, a PRC citizen, holder of identification card number ******, whose residential
address is at ****** (“Party B”). 

 (Above-mentioned parties are solely referred as a
“Party”, and collectively as the “Parties”) 
 Recitals 

 

	A.	 Party B acquired the equity interest of a PRC domestically funded limited company named Beijing Autohome
Information Technology Co., Ltd. (the “Company”) in Beijing, PRC, jointly with the other shareholder (i.e. Lei Haiyun), and holds 50% of the equity interest of the Company (“Equity
Interests”); 

  

	B.	 Now, Party A has provided Party B with a loan to be used for the purposes of acquiring the equity interest of
the Company in accordance with this Agreement. In accordance with the terms and conditions of this Agreement, Party A agrees to provide an interest-free loan in the amount of RMB5,000,000 (the “Loan”). 

NOW, THEREFORE, the parties agree as follows: 

1. DEFINITIONS AND INTERPRETATIONS 
  

	1.1	 Definitions. Unless otherwise provided in this Agreement, the following terms shall have the meanings
set forth below: 

 Designated Party means a third party as designated by Party A; 

Event of Default means an event as described in Article 2.3; 

Equity Option Agreement means the Equity Option Agreement to be entered into by and among Party A, Party B and the Company
dated on February 19, 2021; 

  

			
	Loan Agreement	  	- 3 -

 Equity Pledge Agreement means the Equity Interest Pledge Agreement to be entered into
by and between Party A, Party B dated on February 19, 2021 , 2021; 
 Power of Attorney means an irrevocable Power of
Attorney issued by Party B conferring all his rights as a shareholder of the Company to Party A or the Designated Party dated on February 19, 2021; 

Repayment Notice means a written notice from Party A to Party B for purposes of the repayment of the Loan. 

 

	1.2	 Interpretations. All headings used are for reference purposes only and do not affect the meaning or
interpretation of any provision. Any reference to an Article is to an article of this Agreement. The use of the plural shall include the use of the singular, and vice versa. Unless otherwise indicated, a reference to a day, month or year is to a
calendar day, month or year. The use of the masculine shall include the use of the feminine, and vice versa. 

 2. LOAN

  

	2.1	 Amount. Party A has provided to Party B, and Party B has received from Party A, the Loan. The
Loan shall be interest free. 

  

	2.2	 Term. The term of the Loan shall continue indefinitely until such time as Party B receives a Repayment
Notice and fully repays the Loan, or an Event of Default occurs unless Party A has sent a notice indicating otherwise within 15 calendar days after it is aware of such event. 

 

	2.3	 Event of Default. For purposes of this Agreement, an Event of Default is deemed to have occurred
if any of the following were to apply to Party B: 

  

	 	2.3.1	 a proceeding is commenced against him under any applicable bankruptcy, insolvency, reorganization, court
mediation, or other similar law; 

  

	 	2.3.2	 he makes or attempts to make any fraudulent use or any unauthorized transfer of the Loan or the Equity
Interests; 

  

	 	2.3.3	 he dies or his capacity to perform civil acts is lost or limited; 

 

	 	2.3.4	 he is charged with a criminal offense; 

 

	 	2.3.5	 any third party institutes a court action against him claiming over RMB 50,000; 

  

			
	Loan Agreement	  	- 4 -

	 	2.3.6	 Party B breaches any of its covenants or other obligations under this Agreement, and such breach has not been
remedied within 15 calendar days after receiving Party A’s written notice requiring remedy; 

  

	 	2.3.7	 the representations and warranties made by Party B prove to be false or misleading in any material respect;

  

	 	2.3.8	 any indebtedness, guarantee or other obligation of Party B, whether pursuant to a contract or otherwise,
(i) is accelerated as a result of a default thereunder and is required to be repaid or performed prior to the scheduled date; or (ii) has become due and is not repaid or performed as scheduled and thereby causes Party A to regard Party
B’s capacity to perform the obligations specified herein as having been adversely affected; 

  

	 	2.3.9	 Party B is incapable of repaying his debts as they become due; 

 

	 	2.3.10	 the Agreement is illegal as a result of any applicable laws or Party B is restricted from continuing to perform
its obligations as specified herein; 

  

	 	2.3.11	 any approval, permits, licenses or authorization from any applicable governmental entity (and registration or
filing procedure) required for the Company to provide value added telecommunications services in respect of its information services business via the Internet in the PRC are withdrawn, suspended, invalidated or materially amended;

  

	 	2.3.12	 any approval, permits, licenses or authorization from any applicable government authority required to perform
this Agreement or make this Agreement enforceable, legal and valid are withdrawn, suspended, invalidated or materially amended; 

  

	 	2.3.13	 any property owned by Party B is altered or damaged and thereby causes Party A to deem that the capability of
Party B to perform the obligations stated herein have been adversely affected; or 

  

	 	2.3.14	 Party B defaults under either of the Equity Pledge Agreement or the Equity Option Agreement.

  

	2.4	 Repayment Date. Unless otherwise agreed by Party A in writing, the Loan borrowed by Party B, any portion
of the Loan and any other payment in arrears, if applicable, under this Agreement shall become due and payable five Business Days after Party A gives written notice to Party B demanding repayment in accordance with Article 6.1 (Repayment Date).
Without Party A’s express prior written consent, the Loan shall not be repaid and shall continue indefinitely until the Repayment Date. 

  

			
	Loan Agreement	  	- 5 -

	2.5	 Form of Repayment. Unless agreed by the Parties in writing, the Loan may only be repaid in the form
specified in Article 6. 

  

	2.6	 Purpose of Loan. Party B has accepted the Loan provided by Party A and hereby agrees and covenants that
the Loan shall be used only to acquire the equity interest of the Company. Without Party A’s prior written consent, Party B shall not use the Loan for any other purpose, or sell, assign, transfer, pledge or otherwise dispose of any legal rights
or benefits in connection with, or create any security interest over, the Equity Interest to any third party. 

 3.
CONDITIONS PRECEDENT 
 Drawdown of the Loan by Party B shall, unless specifically waived by Party A in writing, be conditional upon the fulfillment of
all of the following conditions precedent: 
  

	3.1	 Representations and Warranties. All the representations and warranties provided by Party B in
Article 4.2 are true, complete and correct, and shall remain true, complete and correct on the date of such drawdown, as if they are provided on such date. 

  

	3.2	 No Breach. Party B shall not have breached any of his undertakings provided in Article 5, and no
event which may affect the performance of Party B’s obligations hereunder shall have occurred or be likely to occur. 

4. REPRESENTATIONS AND WARRANTIES 
  

	4.1	 Party A’s Representations and Warranties. Party A represents and warrants as follows:

  

	 	4.1.1	 it is a company incorporated and validly existing under the laws of PRC; 

 

	 	4.1.2	 it has the power to enter into and perform this Agreement, and its execution and performance of this Agreement
is in compliance with the business scope of Party A and the provisions of its articles of association or other constituent documents;  

  

	 	4.1.3	 the execution and performance of this Agreement by it will not result in a breach of any laws, regulations,
authorizations, or agreement to which it is subject; and 

  

	 	4.1.4	 this Agreement shall constitute its legal, valid, and binding obligations, and is to be enforceable against it.

  

			
	Loan Agreement	  	- 6 -

	4.2	 Party B’s Representations and Warranties. Party B represents and warrants as follows:

  

	 	4.2.1	 he has and shall maintain the full power and authority to enter into this Agreement and to perform his
obligations hereunder; 

  

	 	4.2.2	 the execution and performance of this Agreement by himself will not result in a breach of any laws,
regulations, authorizations, or agreement to which he is subject; 

  

	 	4.2.3	 this Agreement shall constitute his legal, valid, and binding obligations, and is to be enforceable against
himself; 

  

	 	4.2.4	 there are no civil, criminal or administrative, claims, actions, suits, investigations or proceedings pending
or threatened against him which, based on his knowledge, would materially and adversely affect this Agreement and the performance thereof; 

  

	 	4.2.5	 there is no provision of any agreement, enforceable judgment or order of any court binding on him or affecting
his property, which would in any way prevent or materially adversely affect his execution or performance of this Agreement; 

  

	 	4.2.6	 the execution and performance of this Agreement and the realization of Party A’s rights hereunder will not
violate any mortgage right, contract, judgment, decree or law that is binding upon him or his assets; 

  

	 	4.2.7	 with the exception of the Equity Pledge Agreement, the Equity Option Agreement and the Power of Attorney, he
has not: (a) created any pledge, charge or any other security over any of the Equity Interests; (b) offered to transfer any of the Equity Interests to any third party; (c) issued an undertaking to any third party regarding any offer
to purchase any of the Equity Interests; or (d) entered into any agreement to transfer any of the Equity Interests to any third party; and 

  

	 	4.2.8	 no dispute, action, arbitration, administrative procedure or other legal proceeding (potential or actual)
regarding himself and/or any of the Equity Interests in existence or pending. 

  

			
	Loan Agreement	  	- 7 -

 5. UNDERTAKINGS 

 

	5.1	 Party B’s Undertakings relating to the Company. Party B undertakes to
vote his total interest in the Company and to take all other necessary actions to ensure that the Company: 

  

	 	5.1.1	 will obtain or complete all the necessary governmental approvals, authorizations, licenses, registrations and
filing procedures to own its assets and to engage in the businesses specified in the operational scope of its business license; 

  

	 	5.1.2	 will not supplement, change, or modify in any way its articles of association or other constituent documents,
increase or reduce its registered capital, or alter its shareholding structure without the prior written consent of Party A; 

  

	 	5.1.3	 will not sell, transfer, mortgage, pledge, grant any option rights or otherwise dispose of any asset, business
or legal or beneficial interest, or permit the creation of any other security interest over the same without the prior written consent of Party A; 

  

	 	5.1.4	 will not incur, inherit, warrant or permit the existence of any Loan without the prior written consent of Party
A; 

  

	 	5.1.5	 will not enter into any contracts or extend any loan or credit to any party or provide any guarantee or assume
any obligation of any party without the prior written consent of Party A; 

  

	 	5.1.6	 will provide all information relating to its operations and financial affairs to Party A upon the request of
Party A; 

  

	 	5.1.7	 will not merge, consolidate with any third party, or acquire or invest in any third party, without the prior
written consent of Party A; 

  

	 	5.1.8	 will notify Party A immediately should any legal action, arbitration or administrative procedure relating to
its assets, operations or income arises or is likely to arise; 

  

	 	5.1.9	 will execute all necessary or appropriate agreements, take all necessary or appropriate actions and make all
necessary or appropriate defenses for the purpose of maintaining all rights and proprietary interests in respect of its assets; 

  

	 	5.1.10	 will not pay dividends or distributions of any kind to its shareholders without the prior written consent of
Party A; 

  

	 	5.1.11	 will strictly observe all of the provisions under this Agreement, the Equity Pledge Agreement, the Equity
Option Agreement and the Power of Attorney and shall not cause any act or omission to take place which may impair the validity and enforceability of those documents; and 

  

			
	Loan Agreement	  	- 8 -

	 	5.1.12	 will promptly notify Party A in writing of the occurrence of any event which may materially affect its assets,
obligations, rights or operations. 

  

	5.2	 Undertakings of Party B. Party B further undertakes as follows: 

 

	 	5.2.1	 he will not sell, transfer, mortgage, pledge, grant any option rights or otherwise dispose of any of the Equity
Interests, or permit the creation of any other security interest in the Company without the prior written consent of Party A; 

  

	 	5.2.2	 he will ensure that the shareholders’ meeting of the Company shall not approve any sale, transfer, pledge
or other disposal of the Equity Interests, or permit the creation of any other security interest over the same without the prior written consent of Party A; 

  

	 	5.2.3	 he will ensure that the shareholders’ meeting of the Company shall decide on any matter only with the
prior written instruction of Party A; 

  

	 	5.2.4	 he will notify Party A immediately if and when any legal action, arbitration, or administrative procedure
relating to the Equity Interests arises or is likely to arise; 

  

	 	5.2.5	 he will enter into all necessary or appropriate agreements, take all necessary or appropriate actions, file all
necessary or appropriate and make all necessary or appropriate defenses for the purpose of maintaining ownership of the Equity Interests at the instruction of Party A; 

 

	 	5.2.6	 he will not cause any actions and/or omissions which may materially and adversely affect the assets, operations
or liability of the Company without the prior written consent of Party A; 

  

	 	5.2.7	 he will, upon the request of Party A, appoint any person nominated by Party A as a director of the Company;

  

	 	5.2.8	 in the event that the Party A or the Designated Party purchases the Equity Interests pursuant to the Equity
Option Agreement, he shall apply the proceeds therefrom to repay the Loan to Party A; 

  

	 	5.2.9	 he will promptly notify Party A in writing of the occurrence of any event which may materially affect his
assets, obligations, rights or operations; 

  

	 	5.2.10	 he shall issue the Power of Attorney simultaneously when entering into this Agreement; 

  

			
	Loan Agreement	  	- 9 -

	 	5.2.11	 the Equity Option Agreement shall be validly executed, pursuant to which Party B shall grant Party A or the
Designated Party with an exclusive option to purchase the Equity Interests, to the extent permitted under PRC law; 

  

	 	5.2.12	 the Equity Pledge Agreement, the Equity Option Agreement, and the Power of Attorney shall be in full effect and
free of default, and all relevant filing or registrations procedures, approvals, and governmental proceedings shall have been obtained or completed; 

  

	 	5.2.13	 he will strictly observe all the provisions and perform all of his obligations under this Agreement, the Equity
Pledge Agreement and the Equity Option Agreement, causing no actions nor failing to take any actions that may impair the validity or enforceability of this Agreement, the Equity Pledge Agreement or the Equity Option Agreement; 

 

	 	5.2.14	 he shall maintain as strictly confidential the existence and provisions of this Agreement, as well as any
correspondence, resolutions, ancillary agreements and any other documentation associated herewith; and 

  

	 	5.2.15	 he will not be entitled to any dividend or profit distribution of the Company and will not request or receive
any of the same without the prior written consent of Party A. If such dividends or other distributions are distributed to him from the Company, he will immediately and unconditionally pay or transfer to Party A any such dividends or other
distributions in whatsoever form obtained from the Company as a shareholder of the Company at the time such payables arise, after having deducted and paid any and all relevant taxes and expenses applicable as a result of his receipt of such
dividends or other distributions. 

 6. ENFORCEMENT 

 

	6.1	 Repayment of Loan. 

 

	 	6.1.1	 Upon the occurrence of either an Event of Default or a decision by Party A, in its sole discretion, to demand
repayment of the Loan or any portion of the Loan, Party A may at its discretion issue a notice (Repayment Notice) to Party B requiring repayment of the Loan or any portion of the Loan and any other payment in arrears under this Agreement.

  

	 	6.1.2	 Party B shall repay the Loan by transferring the Equity Interest to Party A or the Designated Party, as
directed by Party A, by signing and delivering an agreement for the transfer of the Equity Interest satisfactory to the Party A from the form to the substance. 

  

			
	Loan Agreement	  	- 10 -

	 	6.1.3	 If Party B fails to comply with its repayment obligations under this Agreement, late payment interest shall be
assessed at the rate of 0.3% per day upon the outstanding amount of the Loan and shall be payable from the Repayment Date until the date on which the total amount of the overdue loan, overdue interest and other monies payable to Party A are fully
settled. 

  

	6.2	 Notification. Party B shall immediately notify Party A in writing of the occurrence of any event set
forth in Article 2.3 or any circumstance which may lead to the occurrence of any such event as soon as Party B knows or is aware of such event or circumstance. 

7. CONFIDENTIALITY 
  

	7.1	 Confidentiality Obligations. The parties shall protect and maintain the confidentiality of all
information relating to or arisen from this Agreement, or made available under this Agreement to a party or any associate thereof (the “Confidential Information”). Without the prior written consent of the other party, no party shall
disclose any Confidential Information to any third party unless the disclosure is required by law or by enforceable orders of the court or related government departments. Under such circumstances, the party required to disclose the Confidential
Information shall notify the other party immediately, take all possible measures to minimize the disclosure, and notify the persons to whom information is being disclosed of the confidentiality obligation. Notwithstanding anything to the contrary
above, Party A shall have the full right to disclose any Confidential Information to its shareholders, affiliates or professional advisors. 

  

	7.2	 Obligations upon Termination. Upon termination of this Agreement, either party shall, at the request of
the other party, return any document, material, database, equipment, or software containing the Confidential Information to the other party. If, for any reason, such document, material, database, equipment, or software cannot be returned, either
party shall destroy all the Confidential Information belonging to the other party and delete such Confidential Information from any memory devices. No party shall be permitted to continue using the Confidential Information in any way after the
termination of this Agreement. 

  

	7.3	 No Time Limit. There is no time limit to the confidentiality obligations stipulated in this Article,
which obligations will survive the termination of this Agreement unless the Confidential Information is disclosed to the public for reasons not due to the breach of this Agreement by any party. 

  

			
	Loan Agreement	  	- 11 -

 8. DISPUTE RESOLUTION 

 

	8.1	 Governing Law. This Agreement shall be governed by the laws of the PRC. 

 

	8.2	 Consultation and Mediation. If any dispute arises in connection with this Agreement, the parties shall
attempt in the first instance to resolve such dispute through friendly consultation or mediation. 

  

	8.3	 Arbitration. Any dispute, controversy or claim arising out of or in connection with this Agreement shall
be submitted to the China International Economic and Trade Arbitration Commission (the “CIETAC”) for arbitration, which shall be conducted in accordance with the CIETAC’s rules in effect at the time of
applying for arbitration. The place of arbitration shall be Beijing. The language of the arbitration shall be Chinese. The tribunal shall consist of 3 arbitrators. The arbitral award is final and binding upon the parties. The cost of
arbitration shall be allocated as determined by the arbitrators. 

 9. INDEMNITY 

Party A agrees to indemnify and hold harmless Party B for any damages, fines or penalties solely incurred in his capacity as a shareholder or any other
positions (including, without limitation, those of legal representative and director) directly as a result of the establishment of the Company and the operation of the Company’s business in contravention of PRC law; provided, however, that in
no instance will Party A provide such indemnification if Party B has engaged in fraud or willful misconduct or has breached or is in breach of this Agreement. 

10. MISCELLANEOUS 
  

	10.1	 Notices. All notices or other communications sent by either party shall be written in English or
Chinese, and delivered in person, by mail or telecopy, to the other party at the following addresses. The date at which the communication shall be deemed to be duly given or made shall be confirmed as follows: (a) for notices delivered in
person, the date of delivery shall be deemed as having been duly given or made; (b) for notices delivered by mail, the 10th day of the delivery date of air certified mail with postage prepaid
(as shown on stamp) or the 4th day of the delivery date to an internationally certified delivery institution shall be deemed as having been duly given or made; and (c) for notices by
telecopy, the receipt date showed on the delivery confirming paper of the relevant document shall be deemed as having been duly given or made. 

  

			
	 Party A:
	  	 Beijing Cheerbright Technologies Co., Ltd.

	 Address:
	  	 Room 1010, F/10, Tower B, No. 3, Danling Street,

		  	 Haidian District, Beijing 100080, China

  

			
	Loan Agreement	  	- 12 -

			
	 Tel:
	  	 +8610-59857001

	 Attn:
	  	 Sun Shufeng

	  
 Party B:
	  	 Long Quan

	 Address:
	  	 ******

	 Tel:
	  	 ******

	 Attn:
	  	 Long Quan

  

	10.2	 Entire Agreement. This Agreement, the Exclusive Technology Consulting and Services Agreement, the Equity
Pledge Agreement, the Equity Option Agreement, and the Power of Attorney from Party B to Party A in favor of Party A shall constitute the entire agreement among the parties in respect of the subject matter hereof and shall supersede any previous
discussions, negotiations and agreements related thereto. 

  

	10.3	 Amendment. Without the prior written consent of Party A, Party B shall not amend this Agreement. If
required by law, the parties shall obtain all requisite approvals from the relevant authorities to give effect to the amendment. 

  

	10.4	 No Waiver. Unless otherwise agreed upon by the parties in writing, any failure or delay on the part of
either party to exercise any right, authority or privilege under this Agreement, or under any other agreement relating hereto, shall not operate as a waiver thereof; nor shall any single or partial exercise of any right, authority or privilege
preclude any other future exercise thereof. 

  

	10.5	 Severability. The provisions of this agreement are severable from each other. The invalidity of any
provision of this agreement shall not affect the validity or enforceability of any other provision of this agreement. 

  

	10.6	 Successors. This Agreement shall be valid and binding on the parties, their successors and permitted
assigns. 

  

	10.7	 Assignment. Party A may transfer or assign any or all of its rights and obligations under this Agreement
to any of its designated parties (natural person or legal entity) at any time. In such circumstances, the transferee or assignee shall enjoy and undertake the same rights and obligations herein of Party A as if the transferee or assignee is Party A
hereunder. When Party A transfers or assigns the rights and obligations under this Agreement, at the request of Party A, Party B shall execute the relevant agreements and/or documents with respect to such transfer or assignment. Party B shall not
assign any of its rights or obligations hereunder without the prior written consent of the Party A. 

  

	10.8	 Effectiveness. This Agreement shall be effective upon its signing by all the parties or
their respective authorized representative and shall be deemed terminated as of the date when the Loan has been repaid in full. 

  

			
	Loan Agreement	  	- 13 -

	10.9	 Language and Counterparts. This Agreement is prepared in 2 sets of originals both in English and
Chinese. Each party shall hold 1 set. Chinese articles shall prevail over English articles in case of any inconsistency. 

[The space below has been intentionally left blank.] 
  

  

			
	Loan Agreement	  	- 14 -

 IN WITNESS WHEREOF, each of the parties hereto has duly executed or has caused this Agreement to be
duly executed in its name and on its behalf by the officer or representative duly authorized, on the day and year first above written. 
 Party A:
Beijing Cheerbright Technologies Co., Ltd. 
  

	
	 February 19, 2021
  

	 /s/ Sun Shufeng

	Authorized Representative: Sun Shufeng

 Company Seal 

  

			
	Loan Agreement	  	 

 IN WITNESS WHEREOF, each of the parties hereto has duly executed or has caused this Agreement to be
duly executed in its name and on its behalf by the officer or representative duly authorized, on the day and year first above written. 
 Party B: Long
Quan 
  

	
	 /s/ Long Quan

  

			
	Loan Agreement

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