Document:

Stock Purchase Agreement dated August 10, 2004

 Exhibit 10.9 
  
 Execution Copy 
  
 STOCK PURCHASE AGREEMENT 
  

  
 DATED AS OF AUGUST 10, 2004 
  
  
 between 
  

  
 Beaver Developments Limited 
  
 Tong Ren Ltd. 
  
 Tecsun Ltd. 
  
 Masterful Solutions Inc. 
  
 Sesame Seed Group
Limited 
  
 Standard International Holdings Ltd.

  
  
 as Sellers 
  
  
 and 
  
  
 Watchdata Technologies Ltd. 
  

 
 as Purchaser 

 THIS STOCK PURCHASE AGREEMENT (this “Agreement”), dated as of August 10, 2004, is made
by and between (i) Beaver Developments Limited, Tong Ren Ltd., Tecsun Ltd., Masterful Solutions Inc., Sesame Seed Group Limited and Standard International Holdings Ltd. (each a “Seller” and collectively the
“Sellers”)) and (ii) Watchdata Technologies Ltd. (the “Purchaser”). 
  
 RECITALS 
  
 WHEREAS the Sellers collectively own 100% of the issued and outstanding shares of capital stock (the “Shares”) of Strategic Triumph Limited, a company organized under the laws of the British Virgin Islands (the
“Company”); and 
  
 WHEREAS the Sellers desire to
sell the Shares to the Purchaser, and the Purchaser desires to purchase the Shares from the Sellers, against issuance of ordinary shares of the Purchaser in an offshore transaction in reliance on Regulation S under the U.S. Securities Act of 1933
(“Regulation S”). 
  
 NOW, THEREFORE, in
consideration of the mutual covenants, agreements, representations and warranties herein contained, the parties hereto agree as follows: 
  
 ARTICLE I 
 PURCHASE AND SALE OF THE SHARES

  
 SECTION 1.01. Purchase and Sale of the Shares. Subject
to the terms and conditions of this Agreement, at the Closing (as defined below), each Seller shall sell and transfer all of its right, title and ownership in, to and of the Shares to the Purchaser, and the Purchaser shall purchase and accept such
transfer of the Shares from each Seller. 
  
 SECTION 1.02.
Issuance of Shares by the Purchaser as Consideration. In consideration for the transfer of the Shares by each Seller, the Purchaser shall issue, pursuant to an offshore transaction in reliance on Regulation S, to each Seller the following
number of the Purchaser’s fully paid and non-assessable ordinary shares (the “Listco Shares”): 
  
 (i) Beaver Developments Limited: 10,302,000 Listco Shares; 
  
 (ii) Tong Ren Ltd.: 9,120,840 Listco Shares; 
  
 (iii) Tecsun Ltd.: 6,766,658 Listco Shares; 
  
 (iv) Masterful Solutions Inc.: 3,090,909 Listco Shares; 
  
 (v) Sesame Seed Group Limited: 2,515,486 Listco Shares; and 
  
 (vi) Standard International Holdings Ltd.: 2,204,106 Listco Shares. 
  
 The aggregate number of Listco Shares issued to the Sellers shall be 33,999,999. 

 ARTICLE II 
 CLOSING 
  
 SECTION 2.01.
Closing. The closing of the transfer and delivery of all documents and instruments necessary to consummate the transactions contemplated by this Agreement (the “Closing”) shall be held at such other place as the Purchaser and
the Sellers may agree at 10:00 a.m. on the Business Day upon which all the conditions to Closing set forth in Article III have been met or waived or such other date as the Purchaser and the Sellers may agree in writing (the date of the Closing being
herein referred to as the “Closing Date”). For purposes of this section, “Business Day” means any day other than a Saturday, Sunday or any other day on which banks located in jurisdiction in which any Seller, the
Purchaser or the Company is incorporated are authorized to close. 
  
 SECTION 2.02. Actions at Closing. The following actions shall take place at or prior to the Closing Date: 
  
 (a) The Purchaser’s title to and interest in the Shares shall be properly recorded, and the Purchaser shall be registered in the Company’s share
register as the sole owner of 100% of the Shares. 
  
 (b) The
Listco Shares shall be validly and duly issued to the Sellers and, except for the one ordinary share of the Purchaser that was taken by Mapcal Limited on July 22, 2004, shall represent 100% of the issued and outstanding ordinary shares of the
Purchaser. Each Seller’s title to and interest in its Listco Shares shall be properly recorded, and each Seller shall be registered in the Purchaser’s share register as the owner of such Seller’s Listco Shares. 
  
 ARTICLE III 
 CONDITIONS PRECEDENT 
  
 SECTION 3.01. Conditions to Each Party’s Obligations. The respective obligations of each party to effect the transactions contemplated by this Agreement shall be subject to the satisfaction of the
following conditions: 
  
 (a) The representations and warranties
of the other parties set forth in Article IV shall be true and correct in all material respects as of the Closing Date. 
  
 (b) There shall not be in effect any law or order or judgment of any governmental authority of competent jurisdiction restraining, enjoining or otherwise
preventing consummation of the transactions contemplated by this Agreement. 
  
 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES 
  
 SECTION 4.01. Representations and Warranties of Each Seller. Each Seller represents to the Purchaser that:

  

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 (a) Due Organization. Such seller is duly organized, validly existing and is in good standing
under the laws of its organization, with full power and authority to sell the Shares owned by such Seller. 
  
 (b) Authority Relative to this Agreement. This Agreement has been duly and validly authorized, executed and delivered by such Seller, and
constitutes the legal, valid and binding obligation of such Seller, enforceable against such Seller in accordance with its terms. 
  
 (c) No consents. No consent, approval, authorization or order of, or filing with, any governmental authority is required to be obtained or made by
such Seller for the execution and delivery of this Agreement, nor for the carrying out of any of the transactions contemplated herein, except for any such consent, approval, authorization or order of, or filing with, any governmental authority that
has been heretofore obtained or made. 
  
 (d) Absence of
Conflict. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated herein by such Seller do not conflict with or result in a breach or violation of any of the terms or provisions of, or
constitute a default (or an event which with the giving of notice or the passage of time or both would constitute a default) or require any consent which has not been obtained under any contract, instrument, agreement, license or permit to which
such Seller is a party or by which it or its properties or assets may be bound, or violate or conflict with any provision of any constituent document of such Seller or any statute, rule, regulation or order applicable to such Seller or any of its
properties. 
  
 (e) Title to the Shares; No Encumbrance.
Such Seller has, and immediately prior to the Closing Date will have, good and valid title to the Shares to be transferred by it hereunder, free and clear of all liens, encumbrances, equities or claims. Upon delivery of the Shares to be transferred
by it hereunder and payment therefor pursuant to this Agreement, good and valid title to such Shares, free and clear of all liens, encumbrances, equities or claims, will pass to the Purchaser. The Shares transferred by all of the Sellers to the
Purchaser hereunder constitute 100% of the issued and outstanding shares of capital stock of the Company. There are no outstanding securities convertible into or exchangeable for, or warrants, rights or options to purchase from the Company, or
obligations of the Company to issue, the Shares or any other class of capital stock of the Company. 
  
 (f) Subsidiaries. The Company owns 100% of the equity interest in both Beijing Watch Data System Co., Ltd. (“Beijing Watchdata”)
and Watchdata Technologies Pte. Ltd. (“Singapore Watchdata”). There are no outstanding securities convertible into or exchangeable for, or warrants, rights or options to purchase from Beijing Watchdata or Singapore Watchdata (as
applicable), or obligations of Beijing Watchdata or Singapore Watchdata (as applicable) to issue, any class of capital stock of Beijing Watchdata or Singapore Watchdata (as applicable). Beijing Watchdata owns 49% of the equity interest in Beijing
Watch Smart Technologies Ltd. 
  
 (g) No Operations. The
Company has not conducted any business or engaged in any operations since the date of its incorporation, other than owning the shares of Beijing Watch Data System Co., Ltd. and Watchdata Technologies Pte. Ltd. 
  

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 (h) No Material Adverse Change. Since December 31, 2003, there has not been any material adverse
change in or affecting the general affairs, business prospects, management, financial position, shareholders’ equity or results of operations of the Company and its subsidiaries. 
  
 SECTION 4.02. Representations and Warranties of the Purchaser. The Purchaser represents to each Seller that:

  
 (a) Due Organization. The Purchaser is duly organized,
validly existing and is in good standing under the laws of Cayman Islands, with full power and authority to purchase and acquire the Shares and to issue the Consideration Shares. 
  
 (b) Authority Relative to this Agreement. This Agreement has been duly and validly authorized, executed and delivered
by the Purchaser, and constitutes the legal, valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms. 
  
 (c) No consents. No consent, approval, authorization or order of, or filing with, any governmental authority is required to be obtained or made by
the Purchaser for the execution and delivery of this Agreement, nor for the carrying out of any of the transactions contemplated herein, except for any such consent, approval, authorization or order of, or filing with, any governmental authority
that has been heretofore obtained or made. 
  
 (d) Absence of
Conflict. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated herein by the Purchaser do not conflict with or result in a breach or violation of any of the terms or provisions of, or
constitute a default (or an event which with the giving of notice or the passage of time or both would constitute a default) or require any consent which has not been obtained under any contract, instrument, agreement license or permit to which the
Purchaser is a party or by which it or its properties or assets may be bound, or violate or conflict with any provision of any constituent document of the Purchaser or any statute, rule, regulation or order applicable to the Purchaser or any of its
properties. 
  
 (e) Validity of Listco Shares. At Closing,
the Listco Shares shall be validly and duly issued, fully paid and non-assessable. Except for the one ordinary share of the Purchaser that was taken by Mapcal Limited on July 22, 2004, the Listco Shares shall represent 100% of the issued and
outstanding ordinary shares of the Purchaser. 
  
 ARTICLE V

 COVENANTS 
  
 Subject to the terms and conditions of this Agreement, each party hereby covenants and agrees as follows: 
  
 SECTION 5.01. Closing. Each party shall use reasonable best efforts
to cause the satisfaction of the conditions precedent to Closing as promptly as possible. 
  

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 SECTION 5.02. Notification. Each party shall promptly notify the other parties of any litigation,
arbitration or administrative proceeding pending or, to such party’s knowledge, threatened against such party which challenges or, if adversely determined, could materially affect the transactions contemplated hereby. 
  
 SECTION 5.03. No Inconsistent Action. No party shall take any action
that is materially inconsistent with its obligations under this Agreement. 
  
 SECTION 5.04. Filings. As promptly as practicable after the execution of this Agreement, each party shall use its reasonable efforts to obtain, and to co-operate with the other parties in obtaining, any
approvals and consents required by applicable law, and to take all reasonable actions to avoid the entry of any order or decree by any governmental authority prohibiting the consummation of the transactions contemplated hereby and shall furnish to
the other parties all such information in its possession as may be necessary for the completion of the notifications to be filed by the other parties. 
  
 SECTION 5.05. Additional Matters and Further Assurances. (a) Each Seller agrees to use all commercially reasonable efforts to take, or cause to be
taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable laws in order to sell and convey to the Purchaser, and to record the Purchaser’s title to and interest in, the Shares sold by such
Seller hereunder, including using all commercially reasonable efforts to obtain all necessary waivers, consents and approvals. 
  
 (b) The Purchaser agrees to use all commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things
necessary, proper or advisable under applicable laws in order to issue to each Seller, and to record each Seller’s title to and interest in, such Seller’s Listco Shares, including using all commercially reasonable efforts to obtain all
necessary waivers, consents and approvals. 
  
 ARTICLE VI

 TERMINATION 
  
 SECTION 6.01. Termination of Agreement. This Agreement may be terminated and the transactions contemplated hereby may be abandoned at any time
prior to the Closing: 
  
 (a) by mutual written agreement of the
Sellers and the Purchaser; or 
  
 (b) by either the Sellers or the
Purchaser if any of the conditions set forth in Article III shall have become incapable of fulfillment or cure and shall not have been waived by such party, provided that such party is not then in breach of this Agreement. 
  
 SECTION 6.02. Procedure and Effect of Termination. (a) If this
Agreement is terminated under Section 6.01, written notice thereof shall forthwith be given to the other parties, and this Agreement shall terminate and the transactions contemplated hereby shall be abandoned without further action by any party.

  
 (b) If this Agreement is terminated as provided herein, then:

  

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 (i) each party shall, upon request, return all documents, work papers and other material
of any other party relating to the transactions contemplated hereby, whether obtained before or after the execution hereof, to the party furnishing the same; and 
  
 (ii) each party shall be released from future performance and no party shall have any liability or further
obligation to any other party resulting from such termination. 
  
 The provisions
of this Section 6.02 shall survive the termination of this Agreement. 
  
 ARTICLE VII 
 MISCELLANEOUS 
  
 SECTION 7.01. Survival of Representations, Warranties and Agreements. The representations and warranties of each of the Sellers and the Purchaser
in this Agreement shall survive the Closing Date. 
  
 SECTION
7.02. Assignment. No party shall convey, assign or otherwise transfer any of its rights or obligations under this Agreement without the prior express written consent of each other party. This Agreement shall be binding upon and shall inure to
the benefit of the parties hereto and their respective permitted assigns. 
  
 SECTION 7.03. Amendment; Waiver; Remedies. This Agreement may be modified or amended only by a written agreement signed by each of the Sellers and the Purchaser. A waiver of any default, breach or
non-compliance under this Agreement is not effective unless in writing and signed by the party to be bound by the waiver. No waiver shall be inferred from or implied by any failure to act or delay in acting by a party in respect of any default,
breach or non-observance or by anything done or omitted to be done by the other party. The waiver by a party of any default, breach or non-compliance under this Agreement shall not operate as a waiver of such party’s rights under this Agreement
in respect of any continuing or subsequent default, breach or non-observance (whether of the same or any other nature). Upon any default by the Purchaser, on one hand, or by the Sellers, on the other hand, the Sellers or the Purchaser, as the case
may be, may proceed to protect their respective rights by appropriate proceedings, whether for the specific performance of any covenant or agreement contained in this Agreement or to enforce any and all other legal rights. 
  
 SECTION 7.04. Entire Agreement. This Agreement contains the entire
agreement between the parties pertaining to the subject matter hereof and supersedes all prior agreements and understandings relating to the subject matter hereof. 
  
 SECTION 7.05. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original
but all of which together shall constitute a single instrument. 
  
 SECTION 7.06. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York. 
  

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 SECTION 7.07. Severability. In the event that any provision of this Agreement shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby as long as the remaining provisions do not materially alter the relations among the parties.

  
 SECTION 7.08. Expenses. Each party shall bear its own
expenses incurred in connection with the negotiation, preparation, execution and closing of this Agreement and the transaction provided for hereby. 
  

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 IN WITNESS HEREOF, the parties have caused this Stock Purchase Agreement to be duly executed as of the
date first written above. 
  

			
	 Beaver Developments Limited

		
	 By:
	 	 /s/ TSANG WING MING TONY

	 Name:
	 	 TSANG WING MING TONY

	 Title:
	 	 DIRECTOR

	
	 Tong Ren Ltd.

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Tecsun Ltd.

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Masterful Solutions Inc.

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Sesame Seed Group Limited

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Standard International Holdings Ltd.

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Watchdata Technologies Ltd.

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 

 IN WITNESS HEREOF, the parties have caused this Stock Purchase Agreement to be duly executed as of the
date first written above. 
  

			
	 Beaver Development Limited

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Tong Ren Ltd.

		
	 By:
	 	 /s/ Wang Youjun

	 Name:
	 	 Wang Youjun

	 Title:
	 	 Chairman

	
	 Tecsun Ltd.

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Masterful Solutions Inc.

		
	 By:
	 	 /s/ Wang Youjun

	 Name:
	 	 Wang Youjun

	 Title:
	 	 Director

	
	 Sesame Seed Group Limited

		
	 By:
	 	 /s/ Ke Lin

	 Name:
	 	 Ke Lin

	 Title:
	 	 President

	
	 Standard International Holdings Ltd.

		
	 By:
	 	 /s/ Ke Lin

	 Name:
	 	 Ke Lin

	 Title:
	 	 Director

	
	 Watchdata Technologies Ltd.

		
	 By:
	 	 /s/ Wang Youjun

	 Name:
	 	 Wang Youjun

	 Title:
	 	 Chairman

 IN WITNESS HEREOF, the parties have caused this Stock Purchase Agreement to be duly executed as of the
date first written above. 
  

			
	 Beaver Development Limited
  

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Tong Ren Ltd.
  

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Tecsun Ltd.
  

		
	 By:
	 	 /s/ Liu Junfeng

	 Name:
	 	 Liu Junfeng

	 Title:
	 	 Chairman

	
	 Masterful Solutions Inc.
  

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Sesame Seed Group Limited
  

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Standard International Holdings Ltd.
  

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 Watchdata Technologies Ltd.
  

		
	 By:
	 	  

	 Name:
	 	 
	 Title:Equity Interest Transfer Agreement dated June 9, 2004

 Exhibit 10.10 
  
 Equity Interest Transfer Agreement 
  
 THIS AGREEMENT (hereinafter “Agreement”) is made this 9th day of June, 2004 by and between the following parties: 
  

			
	 Party A:
	  	Sesame Seed Group Limited, a limited liability company organized and existing under the laws of the British Virgin Islands; whose address is Offshore Incorporations Center, Road Town,
Tortola, British Virgin Islands, and the authorized representative is Kelin [Name in Chinese], the president of the company, with the nationality of PRC.
		
	 Party B:
	  	Beijing Tecsun Century Investment Co., Ltd. [Company name in Chinese], a limited liability company organized and existing under the laws of PRC; whose address is Xinggu Economic Development
District, Pinggu County, Beijing [Address in Chinese], and the legal representative is Liu junfeng [Name in Chinese], the board Chairman of the company, with the nationality of PRC.
		
	 Party C:
	  	Tianjin Tongren (TEDA) Software Technology Co., Ltd. [Company name in Chinese], a limited liability company organized and existing under the laws of PRC; whose address is E Tower, 9 Block,
5th Floor, Construction Square, No. 76, Dongting Lake Road, Economic Development Area, Tianjin [Address in Chinese],
and the legal representative is Wang youjun [Name in Chinese], the board Chairman of the company, with the nationality of PRC.
		
	 Party D:
	  	Standard International Holding Ltd., a limited liability company organized and existing under the laws of the British Virgin Islands; whose address is Columbus Centre Building, Wickhams Cay,
Road Town, Offshore Incorporations Center, Road Town, Tortola, British Virgin Islands, and the authorized representative is Kelin [Name in Chinese], the director of the company, with the nationality of PRC.

  

 1 

			
	 Party E:
	  	Beaver Developments Ltd., a limited liability company organized and existing under the laws of the British Virgin Islands; whose address is Offshore Incorporations Center, Road Town, British
Virgin Islands, and the authorized representative is Zeng yongming [Name in Chinese], the Director of the company, with the nationality of HongKong, PRC.
		
	 Party F:
	  	Strategic Triumph Limited, a limited liability company organized and existing under the laws of the British Virgin Islands; whose address is Offshore Incorporations Limited, P.O. Box 957,
Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands, and the authorized representative is Kelin [Name in Chinese], the Director of the company, with the nationality of PRC.

  
 Party A, Party B,
Party C, Party D and Party E are referred to hereinafter collectively as the “Sellers”, and Party F is referred to as the “Purchaser”, and the Sellers and Purchaser are referred to hereinafter collectively as the
“Parties”. 
  
 WHEREAS 
  

	1.	Beijing Watch Data System Co., Ltd. (“BWDS”) is a Chinese-Foreign Equity Joint Venture legally established organized and validly existing under the PRC Laws. The total
investment of BWDS is US$2,174,891 and the registered capital of BWDS is US$2,174,891. 

  

	2.	The Sellers own one hundred percent (100%) of the equity interest of BWDS (“Interest”), with which, 

  

	(1)	Party A owns eight point fourteen percent (8.14%) of the Interest; 

  

	(2)	Party B owns eighty-nine percent (21.89%) of the Interest; 

  

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	(3)	Party C owns twenty-nine point fifty-one percent (29.51%) of the Interest; 

  

	(4)	Party D owns seven point thirteen percent (7.13%) of the Interest; and 

  

	(5)	Party E owns thirty-three point thirty-three percent (33.33%) of the Interest. 

  

	3.	The Sellers agree to sale and Purchaser agrees to purchase the Interest (“Transfer of Interest”); 

  
 NOW, THEREFORE, the Parties, after friendly discussion, agree to the
following terms and conditions: 
  
 ARTICLE 1 
  
 Transfer of Interest 
  

	1.1	Subject to the terms and conditions of this Agreement, the Sellers agree to transfer the Interest to Purchaser and Purchaser agrees to purchase the Interest from the Sellers, and
thus reform the BWDS from a Chinese-Foreign Equity Joint Ventures into a wholly Foreign Owned Enterprises. 

  

	1.2	Each of the Sellers hereby agrees to give up in writing its pre-emption rights with respect to the Transfer of Interest. 

  
 ARTICLE 2 
  
 Purchase Price and Payment 
  

	2.1	 With reference to the valuation report provided by [Company name in Chinese] on 24th May, 2004, the Parties agree that the total purchase price of the Interest shall be a sum of US$ which is equivalent to RMB 20,000,000 Yuan. The 

  

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exchange rate between US Dollars and RMB shall be that promulgated by the People’s Bank of China at the date such purchase price is paid.

  

	2.2	Purchaser shall pay the purchase price within 30 days after this Agreement becomes effective in accordance with the following: 

  

	 	(1)	pay in USD equivalent to RMB 1,628,000 Yuan to the account designated by Party A; 

  

	 	(2)	pay in USD equivalent to RMB 4,378,000 Yuan to the account designated by Party B 

  

	 	(3)	pay in USD equivalent to RMB 5,902,000 Yuan to the account designated by Party C; 

  

	 	(4)	pay in USD equivalent to RMB 1,426,000 Yuan to the account designated by Party D; 

  

	 	(5)	pay in USD equivalent to RMB 6,666,000 Yuan to the account designated by Party E. 

  

	2.3	Each of the Parties shall bear its own tax liabilities under any applicable law. 

  
 ARTICLE 3 
  
 Representations and Warranties 
  

	3.1	For the purpose of this Agreement, each of the Sellers and Purchaser hereby respectively but not jointly represents and warrants that, 

  

	(1)	it has been duly established and is validly existing under the laws of its jurisdiction of establishment; 

  

 4 

	(2)	it possesses full power and authority to enter into this Agreement and to perform its obligations hereunder; 

  

	(3)	the execution, delivery and performance of this Agreement will not violate any applicable laws and regulations, or its charter or by-laws; 

  

	(4)	its representative, whose signature is affixed hereto, has been duly authorized to sign this Agreement on its behalf, a true copy of which has been delivered to each other party
hereto on or before the date of this Agreement. 

  

	(5)	upon due authorization, execution and delivery by the other Parties hereto, this Agreement shall constitute its legal, valid, binding and enforceable obligations in accordance with
its terms and conditions; 

  

	(6)	its representations and warranties made herein are true, accurate and complete as of the date hereof and shall remain true, accurate and complete as of Transfer Date;

  

	(7)	except as otherwise expressly provided in this Agreement, it shall not take or allow any action, or make or allow any omission, at any time prior to the Transfer Date that would
result in any of its representations, warranties or covenants set forth in this Agreement being materially inaccurate or untrue or that would constitute a material breach thereof as of the Transfer Date. It shall promptly notify each other party in
writing of any matter of development of which it becomes aware and which constitutes a breach of or is inconsistent with any of its representations, warranties and covenants set forth in this Agreement. 

  

	3.2	For the purpose of this Agreement and the Purchaser’s benefit, each of the Sellers hereby further represents and warrants to Purchaser that, 

  

	(1)	all the procedures required for the Transfer of Interest under the Articles of Association of BWSD have been duly fulfilled, including the approval of the board of the BWSD;

  

 5 

	(2)	it holds, and will hold at all times prior to the Transfer Date, its equity interests in the registered capital, free and clear of any encumbrances, debts or claims of any third
party, 

  

	(3)	except as in accordance with the terms and conditions hereunder it shall not, prior to the Transfer Date, transfer or give up any of its interests in the registered capital of BWDS.

  
 ARTICLE 4 
  
 Closing  
  

	4.1	Upon the execution of this Agreement, all Parties shall promptly notice BWSD of the Transfer of Interest, handle together the procedures for the Transfer of Interest under this
Agreement, and complete the registration of the Interest under the name of Purchaser within fifteen (15) days after obtaining the approval required for the effectiveness of this Agreement under Article 5 hereof. 

  

	4.2	From the date of completion of transfer (“Transfer Date”), Purchaser shall be entitled to all of the rights and benefits of Interest, and accordingly Sellers shall not be
entitled to any rights and benefits of Interest from such date. 

  

	4.3	Each Party agrees that Purchaser shall effect relevant modifications to BWSD’s Articles of Association after completion of the Transfer of Interest, and Purchaser shall abide
by the modified Articles of Association, undertake the relevant obligations and be entitled to the rights and benefits of shareholder. 

  

 6 

 ARTICLE 5 
  
 Effectiveness, Modification and Termination 
  

	5.1	This Agreement shall become effective, upon completion of the following conditions: 

  

	(1)	this Agreement has been duly signed by the authorized representative of each of the Parties; 

  

	(2)	Transfer of Interest has been approved by the Ministry of Commerce or its authorized local branch. 

  

	5.2	Any modification or termination shall become effective only upon the written agreement between the Parties and necessary approval from competent authority. 

 

	5.3	This Agreement shall be terminated upon the completion of the Transfer of Interest and payment of the purchase price. 

  
 ARTICLE 6 
  
 Applicable Law and Settlement of Disputes 
  

	6.1	This Agreement shall be governed by and construed in accordance with the laws of PRC. 

  

	6.2	 Any dispute arising from or in relation to this Agreement between the Parties shall be settled through friendly consultations. If no mutually acceptable settlement
is reached within sixty (60) days after the first consultation, then any Party shall have the right to submit such dispute to the China International Economic and Trade Arbitration Commission (“CIETAC”) for settlement through arbitration.
Arbitration shall be conducted in accordance with the Arbitration Rules of CIETAC in force at the time of such submission for arbitration, and the place of arbitration shall be Beijing, China. There shall be three (3) arbitrators; the Sellers shall
jointly appoint one (1) arbitrator and Purchaser shall appoint one (1) arbitrator. The third arbitrator shall be appointed by CIETAC and shall serve as the Chairman of the tribunal. All 

  

 7 

	 	 
proceedings in any such arbitration shall be conducted in Chinese. The arbitral award shall be final and binding upon the parties.

  
 ARTICLE 7 
  
 Liability of Breach 
  

	7.1	If any Party commits a breach of this Agreement, such party shall indemnify the other Parties for direct losses suffered and reasonable fees occurred in relation to the dispute
settlement. 

  

	7.2	The termination of this Agreement shall not effect the rights of the Parties for indemnity of losses, unless otherwise agreed in writing by the Parties. 

  
 ARTICLE 8 
  
 Miscellaneous  
  

	8.1	This Agreement and its attachments, if any, constitute an entire agreement, and shall have the same legal effect. This Agreement is written and signed with both English and Chinese.
The English and Chinese language versions shall have the same legal effect. 

  

	8.2	If any of the provisions of this Agreement after execution is decided to be invalid or not enforceable by a competent court, the effect of the other provisions of this Agreement
shall not be affected and remain in full force. 

  

	8.3	This Agreement shall be executed in eight (8) originals. Each of the Parties shall keep one original and the remainder originals shall be used for relevant approval and filing
purposes. Each original shall have the same legal effect. 

  

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	Party A: Sesame Seed Group Limited	 	 
		
	Authorized Representative: /s/ Kelin (Signature)	 	 
		
	Name: Kelin [Name in Chinese]	 	Title: President
		
	 Party B: Beijing Tecsun Century Investment Co., Ltd.
  
         [Company name in Chinese]
	 	 
		
	Authorized Representative: /s/ Liujunfeng (Signature)	 	 
		
	Name: Liujunfeng [Name in Chinese]	 	Title: Board Chairman
		
	 [Company Seal]
  
 Party C: Tianjin (TEDA) Tongren Software Technology Co., Ltd.
  
         [Company name in Chinese]
	 	 
		
	Authorized Representative: /s/ Wang Youjun (Signature)	 	 
		
	Name: Wang Youjun [Name in Chinese]	 	Title: Board Chairman
		
	 [Company Seal]
  
 Party D: Standard International Holding Ltd.
	 	 
		
	Authorized Representative: /s/ Kelin (Signature)	 	 
		
	Name: Kelin [Name in Chinese]	 	Title: Director

  

 9 

			
	Party E: Beaver Developments Ltd.	 	 
		
	Authorized Representative: /s/ Zeng Yongming (Signature)	 	 
		
	Name: Zeng Yongming [Name in Chinese]	 	Title: Director
		
	Party F: Strategic Triumph Limited	 	 
		
	Authorized Representative: /s/ Kelin (Signature)	 	 
		
	Name: Kelin [Name in Chinese]	 	Title: Director

  

 10

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