Document:

Exhibit 10.4

  

Maximum Financing Contract

 

Huaxia Bank Co., Ltd.

 

    	 	 	 

     

    

 

Maximum Financing Contract

 

No.: SZ03 (R.Z.) 20160015

Party A:  Springpower Technology (Shenzhen) Co., Ltd.

 

Domicile:  Workshop Building A, Shunchao Industrial
Zone, Renmin Road, Danhu Community, Guanlan Street, Bao’an District, Shenzhen City

 

Zip Code:  51800

 

Tel.:  0755-89686802

 

Fax:  0755-89666819

 

Basic Account Opening Bank:  Bank of China Shenzhen
Branch

 

Account No.:  764057938815

 

Party B:  Huaxia Bank Co., Ltd. Shenzhen Great China
Sub-branch

 

Domicile:  East of First Floor, Great China International
Exchange Square, Futian District, Shenzhen

 

Zip Code:  518000

 

Legal Representative / Main Principal:  Xia Feng

 

Tel.:  0755-23997085

 

Fax:  0755-23997090

 

In accordance with relevant laws and regulations of China, Party
A and Party B make and enter into this Contract upon unanimity through consultation between both parties following the principle
of fairness.  

 

Article 1  Maximum Financing
Limit and Type

 

1.1.  Within the valid period of the maximum financing
limit agreed herein (hereinafter referred to as “the Valid Period of Limit”), the maximum financing limit Party A may
apply Party B for use is:  

 

Currency:  RMB

 

Amount (in words):  Thirty Million Yuan Only

 

(The amount of a foreign currency transaction shall be converted
according to the selling price of foreign exchange listed by Party B on the date when the transaction occurs.)

 

This Contract shall not constitute Party B’s inevitable
obligation of providing Party A with financing. Party B shall, under any circumstances, have the right to adjust the Valid Period
of Limit and the maximum financing limit under this Contract.  

 

1.2.  The financing form under the maximum financing
limit agreed herein shall include but not be limited to loan, acceptance of bill, discount of bill, trade financing, letter of
guarantee or other credit business types accepted by Party B.

 

1.3.  Within the Valid Period of Limit agreed herein,
the specific business type, amount, usage period and purpose of the financing limit used by Party A shall be subject to the specific
business contract under this Contract. Both parties shall handle relevant business according to the stipulations of the specific
business contract.

 

The specific business contract may be a contract or an agreement
signed by both parties, or other legal document submitted by Party A to Party B and accepted by Party B, for example, “application
for opening of a L/C”.

 

    	 	 	 

     

    

  

Article 2  Valid Period of
Limit

 

2.1.  The Valid Period of Limit agreed in Article
1 of this Contract shall be one year from June 1, 2016 to June 1, 2017.

 

2.2.  Party B has the right to review the use of the
maximum financing limit under this Contract and adjust the aforesaid Valid Period of Limit.

 

Article 3  Guarantee

 

3.1.  In order to ensure that the creditor’s
rights produced under this Contract are repaid, mortgage, pledge, suretyship, or other one or several guarantees permitted by law
may be adopted. The guarantee contract shall be made and entered into by and between the guarantor and Party B, separately.

 

3.2.  When Party A and Party B conclude a specific
business contract hereunder, Party B shall have the right to demand Party A to provide guarantee other than the guarantee specified
herein.

 

Article 4  Use of Maximum Financing
Limit

 

4.1.  Each time when Party A uses a financing limit,
Party A shall present a written application to Party B ten working days in advance, and Party B has the right to review. When Party
B agrees through review, both parties shall conclude and sign a specific business contract separately.

 

4.2.  Within the Valid Period of Limit, Party A may
reapply for use of the financing limit released by means of payment, and the financing limit unused within the Valid Period of
Limit shall be automatically lapsed upon expiration of the Valid Period.

 

4.3.  Party B must apply for use of the financing
limit within the Valid Period of Limit agreed in Article 2 herein. The date of signature of a specific business contract shall
not be later than the deadline of the Valid Period of Limit. The date of payment of each loan or the date of draft of acceptance
of bill/discount/ opening of L/C/ opening of letter of guarantee / issuance of a letter of guarantee for the release of goods shall
not be later than the deadline of this period.

 

If Party B adjusts or Party A and Party B agree to extend the
Valid Period of Limit upon unanimity through consultation between both parties, this deadline shall be the deadline after adjustment.
The service life of each maximum financed capital shall be subject to the stipulation of the specific business contract and the
expiry date of the performance period shall not be affected by the expiration of the Valid Period of Limit.

 

4.4.  The expenses which should be charged under bills,
letter of guarantee, international trade financing and other related business, the discount rate under discount of bills, and the
interest rate and exchange rate which should be determined in inward and outward documentary bills shall be agreed by Party A and
Party B in each specific business contract.

 

Article 5  Party A’s
Representations and Warranties

 

Party A hereby makes the following representations and warranties
to Party B:

 

5.1.  Party A is a legal entity duly established and
validly existing. Party A has the right to dispose the properties under its operation and management, do business for the purpose
related to that specified in this Contract and the specific business contract, and sign and execute this Contract and the specific
business contract.

 

5.2.  To sign and execute this Contract and the specific
business contract, Party A has obtained approvals from competent authorities, including superior competent department or the board
of directors of the company and has obtained all necessary authorizations.

 

    	 	 	 

     

    

 

5.3.  The signature and execution of this Contract
and the specific business contract by Party A does not violate the stipulations or provisions binding upon Party A and Party A’s
assets, including but not limited to any guarantee agreement between Party A and another party or the contents of guarantee commitments
made to another party.

 

5.4.  All documents and materials that Party A provides
Party B shall be genuine, accurate, legitimate and effective.

 

5.5.  Party A’s all behaviors and performances
in connection with environment and social risks shall comply with statutory and regulatory requirements, and there is no major
lawsuit connected with environment and social risks.

 

Article 6  Party A’s
Rights and Obligations

 

6.1.  During the execution period of this Contract
and a specific business contract thereof, Party A shall, according to Party B’s requirements, provide coordination in inspection
and timely provide, including but not limited to:

 

6.1.1.  business license, organization code certificate,
identity certification and necessary personal information of the legal representative, members and main principal of the board
of directors, list of financial officers, business operation permit, tax registration certificate of pass of the taxation departments’
annual inspection, photocopies of the tax payment proof materials of taxation departments provided according to the year required
by Party B, and loan certificate (card);

 

6.1.2.  all opening banks, account number, and deposit
and loan;  

 

6.1.3.  audited balance sheet, statement of profit
and loss, statement of changes of owner’s equity, sales conditions, statement of cash flow, financial statements and notes
and explanations;

 

6.1.4.  production management planning, statistics
statements, and engineering budget and settlement materials;  

 

6.1.5.  situations of all external guarantee (including
guarantee for Party B’s any institution);

 

6.1.6.  information of all affiliated enterprises
and affiliated relations, information of affiliated transaction accounting for over ten percent of Party A’s net assets which
have occurred and are going to occur, and information of mutual guarantee amongst group customers;

 

6.1.7.  information of lawsuit, arbitration, administrative
punishment and dispute over obligation with others, and criminal case, prosecution and punishment on members of the management.

 

6.2.  Use of a financing limit by Party A shall comply
with laws, this Contract and the specific business contract.

 

6.3.  Party A shall notify Party B in written form
thirty days prior to the following changes, including but not limited to contracting, lease, custody, reorganization of assets,
reconstruction of debts, transformation of equity system, joint operation, business combination (or merger), division, paid transfer
of property, joint investment (or cooperation), reduce of registered capital, or filing for winding-up, filing for dissolution
(or cancellation), filing for reorganization, mediation and bankruptcy, or change of self system or legal status. Party A shall
implement the liability of repayment of the debts under this Contract upon Party B’s written consent, or provide a new guarantee
accepted by Party B in written form, or Party A shall not conduct the foregoing activities prior to full repayment of all debts
under this Contract.

 

6.4.  Party A shall notify Party B of the following
changes in written form thirty days prior to occurrence of the changes that Party A is announced winding-up, is announced closed,
is announced dissolved (cancelled), is filed reorganization or bankruptcy, or changes self system and legal status. Meanwhile,
Party A shall take sufficient and effective actions to protect the creditor's rights of Party B.

 

6.5.  Where there is any situation which is sufficient
to endanger Party A’s normal operation or the safety of the creditor’s rights of Party B, Party A shall notify Party
B in writing within three days. Meanwhile, Party A shall take sufficient and effective actions to protect the creditor's rights
of Party B.

 

    	 	 	 

     

    

 

6.6.  Without Party B’s consent, Party A shall
not sell specific assets, prepay other long-term debts or provide a third party with extra guarantee for debts until Party A has
repaid Party B the principal and interest of the amount of the specific business under this Contract.

 

6.7.  Party A shall not conclude any contract with
any a third party which damages Party B’s rights and interests under this Contract and a specific business contract hereof.

 

6.8.  In the event that Party A’s legal representative,
domicile, name or middle and senior management personnel have any significant change, Party A shall notify Party B in writing within
seven days after this change.

 

6.9.  Party A shall repay on time the principal and
interest of the amount of the specific business under this Contract and pay the expenses payable on time.

 

6.10.  If Party A uses a financing limit to handle
international trade financing business (including packing loan, import and export bill purchase, opening of L/C, letter of guarantee,
discount of bill and acceptance of bill of exchange), Party A shall ensure: when the business is conducted, the Uniform Customs
and Practice for Documentary Credits (latest version) of the International Chamber of Commerce, the Uniform Rules for Collections
(URC522) and other related international practices prevailing when this Contract is signed shall be strictly observed. Party B’s
reputation and interest shall not be damaged due to any business dispute.

 

6.11  In the event that Party B realizes creditor’s
rights through lawsuit, arbitration or other means due to Party A’s violation of this Contract and a specific business contract
hereof, Party A shall bear the appraisal cost, evaluation cost, auction cost, legal cost, arbitration fee, notarization fee and
attorney fee paid by Party B therefore, and other reasonable expenses of Party B for realizing creditor’s rights.

 

6.12.  If Party A is a group customer, Party A shall:

 

6.12.1.  Provide Party B with relevant information
and materials of the group company, including but not limited to list of members of the group customer, legal representative, actual
controlled, registered address, registered capital, main business, equity structure, senior management personnel, financial status,
items of major assets, guarantees and important lawsuits, and so on.

 

6.12.2.  Timely report to Party B in written form
the affiliated transactions accounting for over ten percent of Party A’s net assets, including but not limited to affiliated
relations amongst transaction parties, transaction items, transaction nature, transaction amount or relevant proportions and pricing
policy of transaction.

 

6.13.  Party A shall strengthen management of environment
and social risks, and accept and coordinate Party B or a third party affirmed by Party B in supervision and inspection. At Party
B’s request, Party A shall submit an environment and social risk report to Party B timely.

 

Article 7  Party B’s
Rights and Obligations

 

7.1.  Party B is entitled to, according to relevant
management regulations and credit examination and approval procedures of Huaxia Bank, decide whether to conclude a specific business
contract with Party A and check and supervise the situations of the specific business at any time.

 

7.2.  If Party B agrees Party A to use a financing
limit, the specific business contract concluded shall be timely executed.

 

7.3.  Party B shall keep confidential the materials
and information about Party A’s debt, financial status, production and operation provided by Party A, except otherwise prescribed
by laws and regulations and regulatory policies.

 

Article 8  Management and Control
of Post-Credit Risks

 

8.1.  During the period when the maximum financed
capital hereunder is used, to meet the needs for control of Party B’s risks, Party A shall ensure and continue to meet the
requirements of the following financial indicators:

                  
/                                                                               
.

 

    	 	 	 

     

    

  

Where there is any stipulation in the specific business contract,
the contents specified in the specific business contract shall prevail.

 

8.2.  During the period when the maximum financed
capital hereunder is used, to meet the needs for control of Party B’s risks, Party A shall ensure and continue to make business
settlement according to the following stipulations:  

 

þ þ þ Party
B is the main settlement bank of Party A and Party A’s main settlement business shall be handled through Party A’s
account opened with Party B.

 

x x x Party
B is not the main settlement bank of Party A. Party A shall provide Party B with the bank statements of the main settlement account
or other relevant materials once every  /  month(s).  

 

x          
/                    .

 

Article 9  Prepayment

 

9.1.  During the execution process of this Contract,
Party B shall have the right to ask Party A to prepay the financing limit used by Party A under the following circumstances:

 

9.1.l.  Party A provides false information or holds
back important operational accounting facts;

 

9.1.2.  without Party B’s consent, Party A changes
the purpose of the financed capital or uses the financed capital for conducting any illegal or rule-breaking transaction;

 

9.1.3.  Party A violates any other contract or agreement
concluded with others, or Party A makes any commitment or warranty unilaterally, which constitutes serious breach of other debts;

 

9.1.4.  the guarantee capacity of the guarantor hereunder
becomes obviously insufficient, or the pledged or mortgaged property hereunder is expropriated or damaged or its value obviously
declines, and Party A is unable to provide a new guarantee according to Party B’s requirements;

 

9.1.5.  During the valid period of this Contract,
Party A expressly indicates or indicates by its acts that Party A is unable to or fails to perform its obligations specified in
this Contract or the specific business contract;

 

9.1.6.  Party A transfers its assets, withdraws funds,
evades debts or has any other behavior which damages Party B’s rights and interest;

 

9.1.7  Party A does not perform its commitments made
in Article 5 herein or does not perform the obligations agreed in this Contract or a specific business contract;

 

9.1.8.  Party A refuses Party B’s supervision
and examination on Party A’s use of the credit funds and relevant operation and financial activities;

 

9.1.9.  Party A uses a false contract with an affiliated
party to discount or pledge on the basis of bill receivable and accounts receivable without real trade background to illegally
withdraw Party B's financing;

 

9.1.10.  Party A evades Party B’s obligatory
right intentionally through affiliated transaction;

 

9.1.11.  Party A’s operating mode, self system
or legal status is changed, including but not limited to contracting, lease, custody, asset reorganization, debt reconstruction,
reform of shareholding system, joint operation, consolidation (merger), division, paid transfer of property, joint venture (cooperation),
reduce of registered capital, or applying for winding-up, applying for dissolution (or cancellation), applying for reforming, reconciliation
and bankruptcy. Party A has not obtained Party A’s written consent, hasn’t implemented the liability of repayment of
the debts under a specific business contract of this Contract or hasn’t provided a new guarantee accepted by Party B;

 

9.1.12.  There is any serious crisis of the overall
credit status, operating conditions and financial status of the group customer of Party A, which causes significant threat to the
safety of Party B’s loan;

 

    	 	 	 

     

    

  

9.1.13.  Party A is unable to or is likely unable
to repay the due debt because Party A sells, transfers or disposes by other means any material assets or Party A’s operation
and financial status becomes worse; or Party A is involved in any significant economic lawsuit or arbitration and other legal dispute,
or is involved in any significant administrative punishment, which serious affects and threatens the realization of the creditor’s
rights of Party B;

 

9.1.14.  Party A goes out of business, is dissolved,
stops business or is ordered to close, or its business license is revoked or cancelled;

 

9.1.15.  Party A violates any other obligation agreed
in this Contract, or the Guarantor hereunder violates any obligation agreed in the guarantee contract, that Party B thinks sufficient
to affect realization of its creditor’s rights;

 

9.1.16.  Party A causes a liability accident or a
significant environment and social risk incident due to violation of relevant laws, regulations, regulatory provisions or industrial
standards for food safety, work safety, environmental protection and management of environment and social risks, which has affected
or may affect the performance of obligations under this Contract or a specific business contract.

 

9.2.  If Party A applies for prepayment, Party A shall
present a written application to Party B ten working days in advance and make treatment according to the following methods upon
Party B’s written consent:

 

þ þ þ Party
B shall calculate and collect interest according to the number of days of actual occupation of the loan and the loan interest
rate agreed in the specific business contract under this Contract; 

 

x x x In
addition to the interest calculated and collected according to the number of days of actual occupation of the loan and the loan
interest rate agreed in the specific business contract under this Contract, Party B shall charge  / % of the
prepayment amount as compensation. However, the maximum compensation shall not exceed the result of: repayment amount ×
loan interest rate agreed in the specific business contract / 360 × number f days advanced. 

 

Article 10  Effectiveness,
Transfer and Change of Contract

 

10.1.  This Contract shall come into force as of the
date of signature of both parties. However, Party B shall have no obligation for allowing Party A to use any financing limit before
Party A and its guarantor conclude a guarantee contract according to Party B’s requirements and complete the procedures agreed
in the guarantee contract and the mortgage /pledge right becomes effective by law.

 

10.2.  As agreed by Party A, after effectiveness of
this Contract, Party B may transfer to a third party all or part of the debts under this Contract and the specific business contract.

 

10.3.  If Party A transfers to a third party all or
part of the debts under this Contract and the specific business contract after effectiveness of this Contract, Party A shall submit
to Party B the written documents that the guarantor agrees transfer of successive guarantee obligation or provide a new guarantee,
and obtain Party B’s written consent.

 

10.4.  Party A and Party B shall not change this Contract
without authorization after effectiveness of this Contract. Where necessary, Party A and Party B shall reach a written change agreement.

 

Article 11  Confidentiality

 

Party A or Party B shall bear the obligation of confidentiality
for the other party’s business secret, contractual clauses and other information related to interest acquired during the
signature and execution processes of this Contract, but shall not disclose the aforesaid information to a third party without the
other party’s consent, except otherwise prescribed by laws, regulations and regulatory policies.

 

Article 12  Governing Laws
and Dispute Settlement

 

12.1.  This Contract shall be governed by laws of
the People's Republic of China.

 

    	 	 	 

     

    

  

12.2.  Any and all disputes arising from the execution
of this Contract and/or a specific business contract shall be settled through consultation between Party A and Party B. Where consultation
fails, either party may make settlement according to the following method, except otherwise agreed in the specific business contract
for dispute settlement under this Contract:

 

þ þ þ To
bring a case to the local people’s court at the domicile of Party B;

 

x x x To
apply                   /                        
Arbitration Committee for arbitration.

 

Article 13  Notice and Service

 

During the valid period of this Contract, if Party A changes
its information first given in this Contract without notifying Party B in written form, including name of Party A’s legal
person, legal representative, domicile and telephone number, all documents that Party B sends to Party A according to Party A’s
information given in this Contract shall be deemed as having been served.

 

Article 14  Supplementary Provisions

 

14.1.  The specific business contracts made and entered
into by and between Party A and Party B for each specific maximum financing business on the basis of this Contract shall be a part
of this Contract and constitute an entire contract. in case of discrepancy between a specific business contract and this Contract,
the specific business contract shall prevail.

 

14.2.  Party A authorizes Party B to, in accordance
with relevant laws and regulations, or other regulatory documents or requirements of financial regulators, provide the relevant
information of the Contract and other relevant information for the credit information basic database of the People’s Bank
of China or other credit database established by law for the qualified institutions or individuals to search and use. Party A also
authorizes Party B to, for the purpose of the conclusion and performance of the Contract, search Party B’s relevant information
through the credit information basic database of the People’s Bank of China or other credit database established by law.

 

14.3.  If selection is made in □ under this
Contract, this clause shall apply if √ is ticked in □ but shall not apply if × is given in □.

 

14.4.  This Contract shall be provided for Party A
holding one original, Party B holding two originals and the Guarantor holding one original, which shall be equally authentic.

 

14.5.  Other provisions agreed by both parties:

 

14.6.  Party B has taken reasonable measures to remind
Party A to pay attention to the clauses of exempting or restricting Party B’s responsibilities and, according to Party A’s
requirements, has given full explanation of relevant clauses. Party A and Party B have no objection to the understanding of the
contents of all clauses of this Contract.  

 

(The remainder of this page is intentionally left blank.)

 

    	 	 	 

     

    

 

Page of signature (the remainder of this
page is intentionally left blank.)

 

Party A: (Seal)

Springpower Technology (Shenzhen) Co., Ltd. (Seal)

Legal Representative:

(Or Authorized Agent):        
(Signature)

June 23, 2016

 

Party B:         (Seal)

Huaxia Bank Co., Ltd. Shenzhen Great China Sub-branch (Seal)

Legal Representative / Main Principal:

(Or Authorized Agent)              (Signature
or Seal)

June 23, 2016Exhibit 10.4(a)

 

Personal Maximum Guarantee Contract

(2014) 

 

Huaxia Bank Co., Ltd.

 

    	 	 	 

     

    

 

Personal Maximum Guarantee Contract

 

No.:    SZ03 (G.B.) 20160015-15

 

Party A (Guarantor):   Yin Zhoutao

 

Domiciles:   Room 2402, Unit 3, Bldg. 3, Phase
II, Dongfang Qinyuan, 12th Zone, Longgang Central City, Longgang District, Shenzhen

 

Home Tel.:   0755-89686802

 

Zip Code:   518000

 

Work Unit:   Springpower Technology (Shenzhen)
Co., Ltd.

 

Company Tel.:   0755-89686802

 

Mobile:   13923469509

 

Party B (Creditor):   Huaxia Bank Co., Ltd. Shenzhen
Great China Sub-branch

 

Domicile:   East of First Floor, Great China
International Exchange Square, Futian District, Shenzhen

 

Zip Code:   518000

 

Legal Representative / Main Principal:   Xia
Feng

 

Tel.:   0755-23997085

 

Fax:   0755-23997090

 

In accordance with the Guarantee Law of the People's Republic
of China and other relevant laws and regulations, whereas Party B will have many creditor’s rights continuously with the
Debtor Springpower Technology (Shenzhen) Co., Ltd. (hereinafter referred to as “the Debtor of the Main Contract)
on the basis of the Main Contract during the period agreed herein, and Party A is willing to provide Party B with suretyship guaranty
for the aforesaid creditor’s rights (hereinafter referred to as “the Principal Creditor’s Rights”) to the
extent of the total amount of the creditor’s rights.

 

IN WITNESS WHEREOF, Party A and Party B make and enter into
this Contract upon unanimity through consultation.

 

Part 1

 

Chapter 1   Type, Maximum
Amount and Period of the Principal Creditor’s Rights Guaranteed

 

Article 1.   The Main Contract of this Contract
is selected as follows:

 

þ The Maximum
Financing Contract of SZ03 (R.Z.) 20160015 made and entered into by and between Party B and the Debtor of the Main Contract;
the contract and the specific business contract thereunder shall constitute the Main Contract of this Contract;

 

x                           /                           
continuously made and entered into by and between Party B and the Debtor of the Main Contract during the period of Principal Creditor’s
Rights specified in Article 3 herein shall constitute the Main Contract of this Contract.

 

Article 2.   The maximum amount of the creditor’s
rights guaranteed hereunder is: Currency RMB, amount (in words) Thirty Million Yuan Only (The amount of a foreign
currency transaction shall be converted according to the selling price of foreign exchange listed by Party B on the date when the
transaction occurs.).

 

    	 	 	 

     

    

 

Article 3.   The period of the principal credit’s
right guaranteed hereunder shall be from June 1, 2016 to June 1, 2017.

 

Chapter 2   Dispute Settlement

 

Article 4.   Any and all disputes arising from
the execution of this Contract between Party A and Party B shall be settled through consultation; where consultation fails, both
parties agree to settle the dispute according to the following method:

 

þ To bring
a case to the local people’s court at the domicile of Party B; 

 

x To apply            
/                Arbitration Committee for arbitration.

 

Article 5.   If the method selected above for
dispute settlement is different from the method for dispute settlement under the Main Contract, the method for dispute settlement
selected under the Main Contract shall be applied.

 

Chapter 3   Miscellaneous

 

Article 6.   Other provisions agreed by both
parties.

 

Article 7.   This Contract shall be provided
for Party A holding one original, Party B holding two originals and the Debtor holding one original, which shall be equally authentic.

 

Part 2

 

Chapter 1   Type, Maximum
Amount and Period of the Principal Creditor’s Rights Guaranteed

 

Article 8.   The business type of the Principal
Creditor’s Rights secured by Party A shall be the same as that agreed in the Main Contract.

 

Article 9.   The term “maximum amount of
creditor’s rights” referred to in Article 2 herein means the balance of the principal of the maximum Principal Creditor’s
Rights, specified as follows:

 

9.1.   The amount of all the outstanding principals
used by the Debtor of the Main Contract at any time (for example, if the business under the Main Contract is a business of letter
of credit, bank acceptance bill, letter of guarantee or letter of guarantee for the release of goods, this amount shall be the
accrued but unpaid business balance) shall not exceed the limit specified in the preceding paragraph. However, the Debtor of the
Main Contract may apply for recycling the principals paid to the extent of this limit.

 

9.2.   The maximum amount of creditor’s
rights shall be the maximum amount of the principals of the Principal Creditor’s Rights. If the principal does not exceed
this limit, Party A is willing to bear guarantee liability for all the accounts payable arising therefrom and within the scope
specified in Article 11, including interest, default interest and expenses.   

 

Article 10.   Provisions agreed in Article 3
herein shall have the following meanings:

 

10.1.   If the business specified in the Main
Contract is a loan business, the date of release of each loan shall not be later than the expiry date of this period.

 

10.2.   If the business specified in the Main
Contract is a business of acceptance of bill/discount/ opening of L/C/ opening of letter of guarantee (or letter of guarantee for
the release of goods), the date of draft of acceptance of bill/discount/ opening of L/C/ opening of letter of guarantee (or letter
of guarantee for the release of goods) shall not be later than the expiry date of this period.

 

10.3.   The expiry date of each creditor’s
right shall be subject to the date agreed in the specific business contract and shall not be affected by the expiration of this
period.

 

    	 	 	 

     

    

 

Chapter 2   Scope of Suretyship
Guaranty

 

Article 11.   The scope of suretyship guaranty
of Party A includes the principal, interest, default interest and compound interest of the creditor’s right under the Main
Contract, penalty, damages, appraisal cost, evaluation cost, auction cost, legal cost, arbitration fee, notarization fee and attorney
fee, and other expenses of Party B for realizing the claims.

 

Article 12.   All expenses except principal within
the scope specified in the preceding paragraph shall be included in the scope of guarantee liability bearable by Party A but shall
not be included in the maximum amount of creditor’s rights guaranteed hereunder.

 

Chapter 3   Determination
and Suretyship Modes of the Creditor’s Rights Guaranteed

 

Article 13.   The creditor’s rights guaranteed
under this Contract shall be determined under any one of the following circumstances:

 

13.1.   The period of the Principal Creditor’s
Rights specified in Article 3 of this Contract expires;

 

13.2.   The Creditor under the Main Contract
announces acceleration of all debts under the Main Contract by law or according to relevant stipulations of the Main Contract;
or

 

13.3.   Other circumstances for determining the
creditor’s rights guaranteed by law.

 

Article 14.   When a creditor’s right guaranteed
under this Contract is determined, the following shall become effective:

 

14.1.   When the creditor’s rights guaranteed
under this Contract are determined, the outstanding creditor’s rights under the Main Contract shall be included in the scope
of the creditor’s rights guaranteed no matter whether the performance period of the creditor’s rights has expired or
not or there is any other additional condition.

 

14.2.   When the creditor's rights guaranteed
under this Contract are determined, all funds other than the principals specified in Article 11 of this Contract shall be included
in the scope of the creditor’s rights guaranteed no matter whether the funds have been occurred or not.

 

Article 15.   Suretyship of joint and several
liability is adopted as the method of guarantee by Party A. From the date when the creditor’s rights guaranteed under this
Contract are determined to the date of full repayment of the creditor’s rights guaranteed, if the Debtor of the Main Contract
fails to perform the obligation of repayment of debts, Party B shall have the right to directly claim Party A for compensation
and Party A shall repay Party B relevant debts immediately.   

 

Article 16.   If, besides the guaranty method
agreed in this Contract, there is any other guarantee (including but not limited to the guarantee that the Debtor of the Main Contract
provides Party B), Party B shall have the right to firstly exercise the rights under this Contract and request Party A to bear
joint and several suretyship liability. Party A’s suretyship liability for Party B shall not be affected by any other guarantee.
Meanwhile, Party A’s suretyship liability may not be premised at Party B’s filing of any right claim against any other
guarantor or Party B’s execution of lawsuit / arbitration / enforcement. In the event that Party B waives or changes for
any reason the property security provided by the Debtor of the Main Contractor, or changes the security sequence, resulting in
loss or reduction of its priority to gain compensation under the property security mentioned above, Party A agrees that Party A’s
suretyship liability hereunder may not be exempted or reduced.

 

Article 17.   If Party A provides guarantee for
part creditor’s rights under the Main Contract, any compensation for the creditor’s rights under the Main Contract
shall not reduce or exempt Party A’s guarantee liability. Party A shall also bear guarantee liability for the outstanding
amount under the Main Contract to the extent of the amount guaranteed by Party A.

 

Article 18.   If the Debtor under the Main Contract
makes prepayment or changes the interest rate through consultation with Party B, Party A shall continue to bear guarantee liability
for Party B's creditor’s rights after change.

 

    	 	 	 

     

    

 

Chapter 4   Period of
Suretyship

 

Article 19.   The period of suretyship that Party
A bears suretyship liability shall be two years from the date determined according to the following method:

 

19.1.   If the expiry date of the performance
period of a debt is earlier than or equals to the date of determination of the creditor’s rights guaranteed, the period of
suretyship that Party A bears suretyship liability for the debt shall be from the date of determination of the creditor’s
rights guaranteed;

 

19.2.   If the expiry date of the performance
period of a debt is later than the date of determination of the creditor’s right guaranteed, the period of suretyship that
Party A bears suretyship liability for the debt shall be from the expiry date of the performance period of this debt.

 

Article 20.   The term “expiry date of
the performance period of a debt” indicated in the preceding paragraph includes the expiry date of the debt when the Debtor
of the Main Contract repays the debt by installments, and also includes the expiry date of acceleration announced by the Creditor
according to the stipulations of the Main Contract.

 

Article 21.   If the business under the Main
Contract is a business of letter of credit, bank acceptance bill, letter of guarantee or letter of guarantee for the release of
goods, the date of advancement shall be deemed as the expiry date of the performance period of the debt.

 

Chapter 5   Party A’s
Rights and Obligations

 

Article 22.   Party A is aware of and agrees
all terms and conditions of the Main Contract. Party A is willing to provide suretyship for the Debtor of the Main Contract and
perform the obligation of repayment on behalf according to the stipulations of this Contract.

 

Article 23.   During the execution period of
this Contract, Party A shall, according to Party B’s requirements, faithfully provide the certifications of his personal
career, incomes, expenditures, liabilities, guarantees and economic disputes with others.

 

Article 24.   Party A ensures that the personal
information and others’ relevant information (including the personal basic information, business information and other relevant
information of Party A and others that Party B cannot obtain from public channels) provided for Party B are genuine, accurate,
effective and complete, and Party A has obtained others’ consent.

 

Article 25.   In case of change of Party A’s
personal or family economic incomes, personal identity relations or legal status, or in case of Party A’s involvement in
litigation, arbitration or other events likely to affect Party A’s guarantee ability during the execution period of this
Contract, Party A shall notify Party B in writing within three days.

 

Article 26.   In case of change of Party A’s
name, domicile and contact method during the execution period of this Contract, Party A shall notify Party B in writing within
seven days.

 

Article 27.   Party A ensures not to provide
a third party with any other form of guarantee exceeding his guarantee ability during the valid period of this Contract.

 

Article 28.   When Party B and the Debtor of
the Main Contract concludes and signs a specific business contract (or agreement), Party A may not be notified.

 

Article 29.   If the loan under the Main Contract
is used for borrowing or repaying, Party A is willing to bear suretyship liability.

 

Chapter 6   Party B’s
Rights and Obligations

 

Article 30.   Party B has the right to ask Party
A to provide materials reflecting Party A’s credit situations at any time.   

 

    	 	 	 

     

    

 

Article 31.   If Party A does not perform his
liability under this Contract, Party B shall have the right to deduct principal, interest, default interest, compound interest
and other debts directly from Party A’s any account opened with any banking institution of Huaxia Bank Co., Ltd. (except
that deduction cannot be made in accordance with laws and regulations). If Party B makes deduction from a fixed deposit account
of Party A, interest shall be calculated according to the provisions for early withdrawal in the Regulations on Management of
Savings; after repayment of the loan principal and interest, the remaining balance shall be refunded to Party A. Loss of interest
arising therefrom shall be borne by Party A, and the difference after deduction shall be repaid by Party A. If the currency of
deduction is different from the currency under this Contract, translation shall be made according to the list price announced by
Party B on the date of deduction.

 

Article 32.   Party B has the obligation of keeping
confidential the information provided by Party A. Party B has the right to reserve for internal use the information provided by
Party A within the time limit prescribed by laws, regulations, regulatory provisions and competent authorities (Party B has the
right to destroy the information when this time limit expires); Party B has the right to provide the information provided by Party
A for credit institutions or provide Party A’s information according to laws and regulations, and compulsory orders of judicial
authorities; Party B has the right to disclose the information provided by Party A to Party B’s agent for the purpose of
execution of this Contract, and obtain commitment to confidentiality from the agent.   

 

Chapter 7 Liability for Breach of Contract

 

Article 33.   When this Contract becomes effective,
Party A and Party B shall perform the obligations specified in this Contract. Any party which fails to wholly or partly perform
its obligations specified herein shall undertake relevant liability for breach of contract and make compensation for losses caused
to the other party.

 

Chapter 8   Effectiveness
of Contract

 

Article 34.   This Contract shall enter into
force as of the date of signature of both parties.

 

Article 35.   The validity of this Contract shall
be independent of the Main Contract and may not be affected by the invalidity of the Main Contract. If the Main Contract is confirmed
as invalid, Party A shall assume joint and several suretyship liability for the debts arising from the Debtor’s return of
property or compensation for losses.

 

Chapter 9   Transfer,
Change and Cancellation of Contract

 

Article 36.   Party A or Party B shall not change
or cancel this Contract without permission after the effectiveness of this Contract.

 

Article 37.   Party B may transfer the Principal
Creditor’s Rights to a third person within the valid period of this Contract without obtaining Party A’s consent, but
Party B shall notify Party A, and Party A shall continue to bear joint and several suretyship liability within the original scope
of suretyship.

 

Article 38.   If the type of the Principal Creditor’s
Rights hereunder is L/C advanced payment, as acknowledged by Party A, when the L/C issuing applicant and Party B agree to change
the L/C and the amount under the L/C after change (including but not limited to interest, penalty, compensation and other relevant
expenses) does not exceed the maximum amount of creditor’s rights guaranteed hereunder. Regardless of the change of the L/C
amount and other clauses, the aforesaid change shall be deemed as having been agreed by Party A in advance. Meanwhile, this Guarantee
Contract shall remain effective and Party A shall continue to bear joint and several suretyship liability.   

 

Chapter 10   Supplementary
Provisions

 

Article 39.   If Party A does not notify Party
B in writing of the change of Party A’s name, domicile or contact way during the valid period of this Contract, Party B's
all documents sent to Party A according to the information given in this Contract shall be deemed as having been served.

 

Article 40.   If selection is made in □
under this Contract, this clause shall apply if √ is ticked in □ but shall not apply if × is given in □.

 

    	 	 	 

     

    

 

Article 41.   This Contract shall be provided
for Party A holding one original, Party B holding two originals and the Debtor holding one original, which shall be equally authentic.

 

Article 42.   Annex(es) to this Contract shall
be deemed as an integral part of this Contract and have the same equal legal force as this Contract.

 

(The remainder of this page is intentionally left blank.)

 

    	 	 	 

     

    

 

Page of signature (the remainder of this page is intentionally
left blank.)

 

Party A

 

(Or Authorized Agent):            
(Signature)

June 30, 2016

 

Party B:

Huaxia Bank Co., Ltd. Great China Sub-branch (Seal)

Legal Representative:

(Or Authorized Agent):            
(Signature)

June 30, 2016

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