Document:

Exhibit 10.4(b)

 

Personal Maximum Guarantee Contract

(2014)

 

Huaxia Bank Co., Ltd.

 

    	 	 	 

     

    

 

Personal Maximum Guarantee Contract

 

No.:   SZ03 (G.B.) 20160015-14

 

Party A (Guarantor):   Pan Dangyu

 

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, 2016Exhibit 10.4(c)

 

Maximum Guarantee Contract

 

Huaxia Bank Co., Ltd.

 

    	 	 	 

     

    

 

Maximum Guarantee Contract

 

No.:  SZ03 (G.B.) 20160015-13

 

Party A (Guarantor):  Icon Energy System (Shenzhen)
Co., Ltd.  

 

Domicile:  Block A,4/F, Jinmeiwei Industrial Park,
Guanlan Hi-tech Industrial Park, Shangkeng Community, Guanlan Town, Baoan District, Shenzhen

 

Zip Code:  51800

 

Legal Representative:  Pan Dangyu

 

Tel.:  0755-89686802

 

Fax:  0755-89686802

 

Basic Account Opening Bank:  Bank of China Shenzhen
Branch

 

Account No.:  764057938939

 

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 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.

 

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

 

1.1.  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 1.4 herein shall constitute the Main Contract of this Contract.

 

x Party A agrees
to provide guarantee for the existing creditor’s rights between the Debtor and Party B prior to effectiveness of the maximum
guarantee. In other words, Party A agrees to transfer the creditor’s rights under the     /   of
No.     /   to the scope of the creditor’s rights guaranteed under this Contract.

 

    	 	 	 

     

    

 

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

 

1.3.  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.).

 

The term “maximum amount of creditor’s rights”
means the balance of the financing limit of the maximum principal creditor’s rights (hereinafter referred to as “the
Financed Balance”, specifically as follows:

 

1.3.1.  The amount of the outstanding Financed Balanced
used by the Debtor of the Main Contract at any time shall not exceed the limit specified in the preceding paragraph. However, the
Debtor of the Main Contract may apply for recycling the financing limit paid to the extend of this limit;

 

1.3.2.  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 2, including interest, default interest and expenses.  

 

1.4.  The period of the principal credit’s right
guaranteed hereunder shall be from June 1, 2016 to June 1, 2017. The stipulations of this article have the following meanings:

 

1.4..  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;

 

1.4.2.  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;

 

1.4.3.  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.

 

Article 2  Scope of Suretyship
Guaranty

 

2.1.  The scope of suretyship guaranty of Party A
includes the principal, interest, overdue interest, default interest and compound interest of the Principal Creditor’s Rights,
penalty, damages, exchange loss (loss arising from change of exchange rate), and appraisal cost, evaluation cost, auction cost,
legal cost, arbitration fee, notarization fee and attorney fee, and other reasonable expenses of Party B for realizing creditor’s
rights, and other expenses payable by the Debtor of the Main Contract.

 

2.2.  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.

 

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

 

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

 

3.1.1.  the period of the creditor’s right specified
in Article 1.4 of this Contract expires;

 

3.1.2.  it is impossible to occur a new creditor’s
right;

 

3.1.3.  the Debtor of the Main Contract and Party
A are announced bankruptcy or cancelled;

 

    	 	 	 

     

    

 

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

 

3.1.5.  other circumstances for determining the creditor’s
rights guaranteed by law.

 

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

 

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

 

3.2.2.  When the creditor’s right guaranteed
under this Contract is determined, all funds other than principals specified in Article 2 of this Contract shall be included in
the scope of the creditor’s right guaranteed no matter whether the funds have been occurred or not.

 

3.3.  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.  

 

3.4.  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. Party
A shall not be exempted or reduced from the liability of suretyship guaranty by an excuse of other guarantees. 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
other 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 othersecurity mentioned above, Party A agrees that Party A’s suretyship liability
hereunder may not be exempted or reduced.

 

3.5.  If Party A provides guarantee for part creditor’s
rights under the Main Contract, any compensation for the principal creditor’s rights 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 4  Period of Suretyship

 

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

 

4.1.1.  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;

 

4.1.2.  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.

 

4.2.  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.

 

    	 	 	 

     

    

 

4.3.  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.

 

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, has the qualifications for guarantors prescribed by law and the ability of repayment on behalf of others. Party
A is willing to bear and perform suretyship liability to the extent of the assets Party A possesses or has the right to dispose.

 

5.2.  For the purpose of signature of this Contract,
Party A has obtained approval from competent authorities prescribed by law and stipulated in the company’s articles of association,
including the superior competent department of Party A or the board of directors, shareholders' meeting or shareholders’
general meeting of Party A’s company, and has obtained all necessary authorizations.

 

5.3.  The signature and execution of this Contract
by Party A does not violate the stipulations or provisions binding upon Party A and Party A’s assets, nor violate any guarantee
agreement and other agreement between Party A and another party, as well as any other documents, agreements and commitments binding
upon Party A.

 

5.4.  If Party A is a listed company or a branch controlled
by a listed company, Party A warrants performing the obligation of information disclosure of the guaranty items timely in accordance
with the Securities Law, the Share Listing Rules of Stock Exchange, and the requirements of other relevant laws, rules and regulations.

 

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

 

5.6.  Party A is aware of and agrees all terms and
conditions of the Main Contract and understands the operating conditions and financial status of the Debtor of the Main Contract,
the actual purpose of the financed capital and the trade background of financing. Party A acknowledges the genuine and legitimacy
of the Main Contract and is willing to provide suretyship for the Debtor of the Main Contract. Party A warrants that Party A shall
perform joint and several obligation of repayment pursuant to this Contract.

 

5.7.  Where the Main Contract under this Contract
is a Bank Acceptance Agreement, Party A shall ensure that any and all note and non-note dispute between the Debtor of the Main
Contract and the bearer, endorser or other parties of the acceptance bill will not affect Party A to bear suretyship liability
for Party B according to the stipulations of this Contract.

 

5.. 8 If the principal creditor’s rights guaranteed under
this Contract are the international trade financing that Party B provides the Debtor of the Main Contract, Party A shall accept
and recognize relevant international common practice of the related business.

 

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

 

Article 6  Party A’s
Rights and Obligations

 

6.1.  During the valid period of this Contract, Party
A shall perform suretyship liability hereunder unconditionally within five working days after receiving Party B’s notice
under any one of the following circumstances:

 

6.1.1.  The performance period of a debt under the
principal creditor’s rights expires and Party B is not paid;

 

6.1.2.  A debt under the Main Contract is due in advanced
in accordance with laws or the Main Contract, and Party B is not paid;

 

    	 	 	 

     

    

 

6.1.3.  Party A or the Debtor of the Main Contract
is filed reorganization or bankruptcy, suspends its business for rectification, is announced closed or is announced dissolved (cancelled);  

 

6.1.4.  Party A has any other event which has endangered
or damaged or may endanger or damage Party B’s rights and interests; or

 

6.1.5.  Other circumstances that Party A shall perform
suretyship liability as prescribed by laws and regulations or stipulated by the Main Contract or this Contract.

 

6.2.  Party A shall continue to perform suretyship
liability under this Contract without obtaining Party A’s consent under any one of the following circumstances:

 

6.2.1.  Party B and the Debtor of the Main Contract
reach an agreement on change of the Main Contract and such change does not increase the Debtor’s debts;

 

6.2.2.  Under international and domestic trade financing,
Party B and the Debtor of the Main Contract changes the L/C or letter of guarantee in connection with the Main Contract, and such
change does not increases the Debtor’s obligation of payment under the L/C or letter of guarantee; or

 

6.2.3.  Party B transfers the principal creditor’s
rights.

 

6.3.  During the valid period of this Contract, Party
A shall, according to Party B’s requirements, provide balance sheet, statement of incomes, statement of cash flows and other
financial statements, and accept Party B’s inspection and supervision on Party A’s production and operation activities
and financial status.

 

6.4.  Party A shall notify Party B in written form
and implement all suretyship liabilities under this Contract thirty days prior to the following changes during the valid period
of this Contract, 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.

 

6.. 5 During the valid period of this Contract, Party A shall
notify Party B in written form thirty days prior to the following changes when it is announced winding-up, is announced closed,
is announced dissolved (cancelled), is filed reorganization or bankruptcy, or changes self system and legal status, or has any
other change which is enough to endanger Party A’s normal operation and lose the guarantee ability.

 

6.6.  If Party A changes Party A’s address,
name or legal representative, Party A shall notify Party B in written form within seven days after such change.

 

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

 

6.8 Party A shall sign in timely various notices posted or served
by other means by Party B.

 

6.9.  In case of any one of the following circumstances
occurring to the purchaser’s financing under a L/C, an import L/C and import bill advance/ import refinance businesses, Party
A shall have the obligation of incontestable guaranty of suretyship. Party A shall not, for any payment obligation under the letter
of credit specified by the judicial authority or the administrative authority, issue stop payment order or restraining order, or
take measures to seal, detain and freeze relevant property of the letter of credit or take other similar measures to present exemption
or defense:

 

6.9.1.  The person designated or authorized by Party
B has favorably paid according to Party B’s order;

 

    	 	 	 

     

    

 

6.9.2.  Party B or the person designated or authorized
by Party B has favorably issued a due payment confirmation for the loan under the domestic letter of credit or has favorably accepted
the documents under the import letter of credit;

 

6.9.3.  The confirming bank of the L/C has favorably
performed the obligation of payment;

 

6.9.4.  The negotiation bank of the L/C has favorably
made negotiation.  

 

6.10.  Under shipping guarantee, endorsement of bill
of lading and authorized withdrawal, Party A shall not present exemption or defense because the Debtor of the Main Contract refuses
payment of the relevant L/C.

 

Article 7  Party B’s
Rights and Obligations

 

7.1.  Party B is entitled to demand Party A at any
time to provide the financial reports, financial statements or other data reflecting Party A’s operation conditions and credit
status.

 

7.2.  If Party A does not perform its liability hereunder
according to the stipulations of this Contract, Party B shall have the right to deduct Party A’s accounts payable directly
from an account opened by Party A with any banking institution of Huaxia Bank and Party B shall notify Party A timely. If the account
currency is different from the currency of the principal creditor’s rights when Party B makes deduction from Party A’s
account, translation shall be made according to the foreign exchange rate issued by Party B on the date of deduction. Should RMB
be translated into a foreign currency, translation shall be made according to the selling price of the foreign currency; should
a foreign currency be translated into RMB, translation shall be made according to the buying price of the foreign currency.

 

7.3.  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 8  Liability for Breach
of Contract

 

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 or violates its representations, warranties and commitments made hereunder shall undertake relevant liabilities for breach
of contract and make compensation for losses caused to the other party.

 

Article 9  Effectiveness of
Contract

 

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

 

9.2.  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.

 

Article 10  Transfer, Change
and Cancellation of Contract

 

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

 

10.2.  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, and Party A shall
continue to bear joint and several suretyship liability within the original scope of suretyship.

 

10.3.  Without Party B’s written consent, Party
A shall not transfer all or part of its rights or obligations under this Contract.

 

    	 	 	 

     

    

 

 

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 applies to the laws of the People's
Republic of China.

 

12.2.  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.

 

12.3.  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 under the Main Contract
shall prevail.

 

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.  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.

 

14.2.  Other provisions agreed by both parties:

 

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 Debtor holding one original, which shall be equally authentic.

 

14.5.  Annexes of this Contract shall be deemed as
an integral part of this Contract and have the same equal legal force as this Contract.

 

14.6.  Party B has take 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)

 

Icon Energy System (Shenzhen) Co., Ltd. (Seal)

 

Legal Representative:

 

(Or Authorized Agent):        
(Signature)

 

June 30, 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 30, 2016

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