Document:

Series B-1 Share Purchase Agreement

 Exhibit 4.6 

SHARE PURCHASE AGREEMENT 

by and among 

CHINA KANGHUI HOLDINGS 

CHANGZHOU KANGHUI MEDICAL INNOVATION CO., LTD. 

BEIJING LIBEIER BIOLOGY ENGINEERING RESEARCH INSTITUTE CO., LTD. 

GUARANTORS 

and 

INVESTORS 

dated as of April 21, 2009 

 TABLE OF CONTENTS 

 

					
	 	  	 	  	Page No.
			
	1.	  	DEFINITIONS	  	1
			
	2.	  	PURCHASE AND SALE OF SHARES	  	3
			
	3.	  	REPRESENTATIONS AND WARRANTIES OF WARRANTORS	  	5
			
	4.	  	REPRESENTATIONS AND WARRANTIES OF INVESTORS	  	15
			
	5.	  	CONFIDENTIALITY	  	16
			
	6.	  	CONDITIONS TO INVESTORS’ OBLIGATIONS AT CLOSING	  	17
			
	7.	  	CONDITIONS TO COMPANY’S OBLIGATIONS AT CLOSING	  	18
			
	8.	  	COVENANTS OF WARRANTORS	  	18
			
	9.	  	MISCELLANEOUS	  	20

  

			
	SCHEDULE A	 	GUARANTORS
		
	SCHEDULE B	 	DISCLOSURE SCHEDULES
		
	SCHEDULE C	 	CAPITALIZATION TABLE
		
	SCHEDULE D	 	ESOP
		
	EXHIBIT A	 	RESTATED MEMORANDUM AND ARTICLES
		
	EXHIBIT B	 	RESTATED INVESTORS’ RIGHTS AGREEMENT
		
	EXHIBIT C	 	SERIES B PREFERRED SHARE RESTRICTION AGREEMENT
		
	EXHIBIT D	 	SERIES B PREFERRED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT
		
	EXHIBIT E	 	MANAGEMENT RIGHTS LETTER

 SHARE PURCHASE AGREEMENT 

THIS SHARE PURCHASE AGREEMENT (this “Agreement”) is made as of April 21, 2009 by and among China Kanghui Holdings,
an exempt company organized and existing under the Laws of the Cayman Islands (the “Company”); Changzhou Kanghui Medical Innovation Co., Ltd., a wholly foreign owned enterprise organized and existing under the Laws of the PRC
(“Changzhou Kanghui”); Beijing Libeier Biology Engineering Research Institute Co., Ltd., a wholly foreign owned enterprise organized and existing under the Laws of the PRC (“Beijing Libeier”, together with Changzhou
Kanghui, collectively, the “Domestic Entities”, each, a “Domestic Entity”); each of the parties set forth in Schedule A (each a “Guarantor”, and collectively, “Guarantors”);
and VIVO Ventures Fund VI, L.P. and Vivo Ventures VI Affiliates Fund, L.P. (each an “Investor”, collectively, the “Investors”). 

RECITALS 

WHEREAS, the Company is the sole legal and beneficial owner of all the equity interest in the registered capital of each of Changzhou
Kanghui and Beijing Libeier. Each of Changzhou Kanghui and Beijing Libeier is engaged in the business of manufacturing and sales of medical devices and artificial organs (the “Principal Business”); WHEREAS, the Investors seek to
invest in the Company and to purchase the Series B-1 Shares (as defined below) of the Company, and the Company desires to issue the Series B-1 Shares to the Investors on terms and conditions set forth herein. 

AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises set forth herein and for other good and valuable
consideration, the sufficiency and adequacy of which is hereby acknowledged, the parties hereto hereby agree as follows: 

1. Definitions. For purposes of this Agreement, the following terms shall have the following meanings: 

“Affiliate” means, with respect to a Person, any other Person that, directly or indirectly, controls, is
controlled by or is under common control with such Person. For purposes of this Agreement, “control” means, when used with respect to any Person, power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise, and the terms “affiliated,” “controlling” and “controlled” have meanings correlative to
the foregoing. 
 “Balance Sheet Date” means December 31, 2008. 

“Company Group” means the Company, the Domestic Entities and their respective Subsidiaries from time to time.

 “Contract” means a contract, agreement, understanding, indenture, note, bond, loan, instrument,
lease, mortgage, franchise, license, commitment, purchase order, purchasing arrangement and other legally binding arrangement, whether written, oral, express or implied. 
  

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 “Governmental or Regulatory Authority” means any nation or
government or any province or state or any other political subdivision thereof, or any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any
government authority, agency, department, board, commission or instrumentality or any political subdivision thereof, any court, tribunal or arbitrator, and any self-regulatory organization. 

“Historical Financial Statements” means, collectively, (i) the audited balance sheet of Changzhou Kanghui as
of December 31, 2006 and December 31, 2007 as well as the audited income statement and cash flow statement of Changzhou Kanghui for each year ended December 31, 2006 and December 31, 2007; the unaudited balance sheet of Changzhou
Kanghui as of December 31, 2008 as well as the unaudited income statement and cash flow statement of Changzhou Kanghui for the year ended December 31, 2008; and (ii) the unaudited balance sheet of Beijing Libeier as of
December 31, 2008 as well as the unaudited income statement and cash flow statement of Beijing Libeier for the year ended December 31, 2008, in each case prepared in accordance with the PRC GAAP. 

“Intellectual Property” means any and all (i) patents, patent applications (including the right to file such
application), and all reissues, reexaminations, continuations, continuations-in-part, divisions, and patent term adjustments thereof, (ii) inventions (whether patentable or not), discoveries, improvements, concepts, innovations and industrial
models, (iii) registered and unregistered copyrights, copyright registrations and applications, author’s rights and works of authorship (including artwork of any kind and software of all types in whatever medium, inclusive of computer
programs, source code, object code and executable code, and related documentation), (iv) URLs, websites, web pages and any part thereof, (v) technical information, proprietary information, know-how, trade secrets, drawings, designs, design
protocols, specifications for parts and devices, quality assurance and control procedures, design tools, manuals, research data concerning historic and current research and development efforts, including the results of successful and unsuccessful
designs, databases and proprietary data, (vi) proprietary processes, technology, engineering, formulae, algorithms and operational procedures, and any applications and registrations therefor (including the right to file such applications and
registrations), (vii) trade names, trade dress, trademarks, domain names, and service marks, and registrations and applications therefor (including the right to file such applications and registrations), and (viii) the goodwill of the
business symbolized or represented by the foregoing, customer lists and other proprietary information and common-law rights. 

“Law” means any constitutional provision, statute or other law, rule, regulation, official policy or
interpretation of any Governmental or Regulatory Authority. 
 “Material Adverse Event” means any
change, event or effect that (a) is or could be materially adverse to the business, operations, assets, liabilities, condition (financial or otherwise) or results of operations, or prospects of any of the Company, the Domestic Entities, or
their Subsidiaries individually or taken as a whole or (b) is or could materially impair the validity or enforceability of this Agreement against any Warrantor or (c) is or could materially adversely affect any Warrantor’s ability to
perform its respective obligations under this Agreement, any Transaction Document or in connection with the transactions contemplated hereunder or thereunder. 
  

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 “Order” means any injunction, judgment, decree, order, ruling,
assessment or writ of any Governmental or Regulatory Authority. 
 “Person” means any natural person,
limited liability company, joint stock company, joint venture, partnership, enterprise, trust, unincorporated organization or any other entity or organization. 

“PRC” means the People’s Republic of China but solely for the purposes of this Agreement and the other
Transaction Documents excluding the Hong Kong Special Administrative Region, Macau Special Administrative Region and the island of Taiwan. 

“PRC GAAP” means generally accepted accounting principles in the PRC applied on a consistent basis. 

“Related Party” means each member or stockholder of the Company or of any member of the Company Group, each
Affiliate of the Company or of any member of the Company Group, and each member of the immediate family of each of the foregoing that is an individual. 

“Restated Memorandum and Articles” means the Amended and Restated Memorandum and Articles of Association of the
Company in substantially the form attached hereto as Exhibit A. 
 “Senior Manager” means, with
respect to any member of the Company Group, the chief executive officer of such company and any member of management reporting directly to the board of directors or chief executive officer of such company. 

“Subsidiary” means, with respect to any Person, any other Person directly or indirectly controlled by such
Person. 
 “Transaction Documents” means this Agreement, the Restated Memorandum and Articles, the
Restated Investors’ Rights Agreement, the Series B Preferred Right of First Refusal and Co-Sale Agreement, the Series B Preferred Share Restriction Agreement and the Management Rights Letter. 

2. Purchase and Sale of Shares 

2.1 Purchase and Sale of Series B-1 Shares. Subject to the terms and conditions of this Agreement, at the Closing, the Company
agrees to sell and issue to the Investors, and the Investors agree to purchase, in aggregate, 182,493 Company’s voting Series B-1 convertible redeemable participating preferred shares, par value US$0.01 per share, (“Series B-1
Shares”), for the aggregate consideration of US$2,000,000 (the “Purchase Price”). The original issue price per Series B-1 Share (the “Series B-1 Original Issue Price”) shall be US$10.9594, as adjusted for
any share dividends, combinations, splits, recapitalizations and the like. 
 2.2 Closing 

(A) The consummation of the purchase and sale of the Series B-1 Shares pursuant to Section 2.1 (the
“Closing”) shall take place as soon as practicable after all conditions to the Closing under Sections 6 and 7 hereof have been waived or satisfied, remotely via the exchange of documents and signatures, or at such other time, on
such other date and at such other location as is agreed by the parties in writing. 
  

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 (B) At the Closing, the Company shall cause the Company’s share register to be
updated to reflect the Series B-1 Shares purchased by the Investors and, as soon as possible thereafter, shall deliver to the Investors a certified copy of such updated share register together with certificates evidencing the Series B-1 Shares.

 (C) At the Closing, the Investors shall deliver to the Company the Purchase Price by wire transfer of immediately
available U.S. dollar funds to the bank account designated in writing by the Company at least five (5) business days prior to the Closing. 

2.3 Series B-2 Financing. 

(A) The parties hereto acknowledge that the Company anticipates a round of equity financing following the Closing through the
issuance of the Company’s voting Series B-2 convertible redeemable participating preferred shares, par value US$0.01 per share, (“Series B-2 Shares”) (the “Series B-2 Financing”). The aggregate consideration
for the Series B-2 Financing shall not be less than US$5,000,000 or greater than US$10,000,000 (which shall include the US$2,000,000 the Company has the right to require the Investors to invest under Section 2.3(B) below), unless otherwise
agreed by the Investors. The Series B-2 Financing shall be led by an independent institutional investor (the “Series B-2 Lead Investor”), which shall not be affiliated or associated with any member of the Company Group or its
existing or former stockholders, directors or Senior Managers, however, any affiliate of any existing preferred shareholder which is affiliated on the ground of common control and makes decision independently, shall not be subject to the foregoing
restriction and will be treated as an independent investor. The Series B-2 Financing shall be completed within one year following the Closing (the “Series B-2 Financing Period”). The issue price per Series B-2 Share (the
“Series B-2 Issue Price”) shall be reasonably and mutually determined by the Company and the Series B-2 Lead Investor with price and terms determined on an arm-length transaction basis. The investment amount of the Series B-2 Lead
Investor in the Series B-2 Financing shall not be less than US$2,000,000. Other than the provisions in connection with or in relation to the Series B-2 Issue Price, the Series B-2 Shares shall be entitled to the rights, powers and privileges
applicable to the Series B Preferred Shares. 
 (B) The Company shall have the right, during the Series B-2 Financing
Period, to require the Investors to purchase a certain number of Series B-2 Shares in the amount of US$2,000,000 upon the closing of the Series B-2 Financing, at the Series B-2 Issue Price, provided that the Company shall give prior notice in
writing to the Investors of no less than twenty (20) business days of the closing of the Series B-2 Financing. 
 (C)
In case that the Series B-2 Issue Price is higher than the Series B-1 Original Issue Price and the Investors fail to purchase the Series B-2 Shares in accordance with Section 2.3(B) above, the Series B-1 Conversion Price (as defined in the
Annex to the Restated Memorandum and Articles) shall be automatically adjusted upward to a price (calculated to the nearest one hundredth of a cent) determined in accordance with the following formula: 

ACP = ICP x A / B 
  

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 For purpose of the foregoing formula, the following definitions shall apply: (1) ACP
shall mean the Series B-1 Conversion Price immediately after such adjustment; (2) ICP shall mean the Series B-1 Conversion Price immediately prior to such adjustment; (3) A shall mean the Series B-2 Issue Price; and (4) B shall mean
the Series B-1 Original Issue Price. 
 (D) In case that the Series B-2 Issue Price is lower than the Series B-1 Original
Issue Price, (i) if the Investors purchase the Series B-2 Shares in accordance with Section 2.3(B) above, the Series B-1 Conversion Price shall be automatically adjusted downward pursuant to Article 6.4(E)(a) of the Annex to the Restated
Memorandum and Articles, or (ii) if the Investors fail to purchase the Series B-2 Shares in accordance with Section 2.3(B) above, the Series B-1 Conversion Price shall not be adjusted notwithstanding the provisions in Article 6.4(E)(a) of
the Annex to the Restated Memorandum. 
 3. Representations and Warranties of Warrantors. Each of the Guarantors, the
Company and the Domestic Entities (each, a “Warrantor”) hereby jointly and severally represents and warrants to the Investors as follows, subject to such exceptions as may be set forth in the Disclosure Schedules attached to this
Agreement as Schedule B (the “Disclosure Schedules”). Subject to the Disclosure Schedules, the representations and warranties made by the Warrantors in this Section 3 shall be true and correct as of the date of this
Agreement and shall remain true and correct as of the Closing, except for representations and warranties made expressly as of another date, which representations and warranties shall be true and correct on and as of such date. 

3.1 Organization, Good Standing and Qualification. The Company is duly organized, validly existing and in good standing
under the Laws of the Cayman Islands. Each Domestic Entity is duly organized, validly existing and in good standing under the Laws of the PRC. Each member of the Company Group has all requisite corporate power and authority to own, lease and operate
its properties and to carry on its business as now conducted and as proposed to be conducted and is duly qualified to transact business and is in good standing in each jurisdiction in which it conducts business, except where the failure to so
qualify would not be a Material Adverse Event. 
 3.2 Capitalization 

(A) Company 

(1) The authorized capital of the Company as of the Closing shall have consisted of: 

(a) 95,894,030 common shares, par value US$0.01 per share (“Common Shares”), of which 5,771,440 shares are duly and
validly issued, fully paid, nonassessable, and outstanding and were issued in accordance with all applicable Laws, and 1,743,072 of which are reserved for issuance pursuant to (i) the employees’ stock option plans of the Company that have
been approved by the board of directors of the Company (the “Board”) and are attached to this Agreement as Schedule D, and (ii) any employees’ stock option plan of the Company to be subsequently approved by the
Board with the affirmative vote of the Series B Director (as defined in the Restated Memorandum and Articles) (the “ESOP”). 
  

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 (b) 4,105,970 preferred shares, par value US$0.01 per share, 1,317,316 of which are issued
and outstanding, and designated as the Company’s voting Series A convertible redeemable participating preferred shares (“Series A Shares”), 2,606,161 of which are issued and outstanding, and designated as the Company’s
voting Series B convertible redeemable participating preferred shares (“Series B Shares”, together with the Series B-1 Shares, the “Series B Preferred Shares”), and 182,493 of which are designated as Series B-1
Shares and will be sold to the Investors pursuant to the terms of this Agreement. None of the Series B-1 Shares is issued and outstanding immediately prior to the Closing. The rights, privileges, preferences and restrictions of Series A Shares,
Series B Shares and Series B-1 Shares at the Closing are as stated in the Restated Memorandum and Articles. 
 The
Capitalization Table attached hereto as Schedule C sets forth the complete and accurate capitalization of the Company both immediately prior to the Closing and as it shall exist immediately following the Closing. 

(2) Except as set forth above, except for certain rights provided in this Agreement or any of the Transaction Documents or the ESOP,
there are no outstanding options, securities, warrants, rights (including conversion or preemptive rights and rights of first refusal), proxy or shareholders agreements, or agreements of any kind for the purchase or acquisition from the Company of
any of its securities. The Company is not a party or subject to any agreement that affects or relates to the voting or giving of written consents with respect to any security of the Company. 

(3) The Common Shares available for future issuance under the ESOP shall be sufficient to meet the Company’s equity incentive needs
for at least the twelve (12) month period following the Closing. 
 (B) Domestic Entities 

(1) The registered capital of Changzhou Kanghui is RMB66,000,000, fully paid as of the date hereof. The Company is the sole record and
beneficial owner of the registered capital of Changzhou Kanghui. 
 (2) The registered capital of Beijing Libeier is RMB600,000,
fully paid as of the date hereof. The Company is the sole record and beneficial owner of the registered capital of Beijing Libeier. 

(3) There are no outstanding options, warrants, rights (including conversion or preemptive rights and rights of first refusal),
subscriptions, or other rights, proxy or stockholders agreements or contracts of any kind, either directly or indirectly, entitling the holder thereof to purchase or otherwise acquire or to compel any Domestic Entity to increase or decrease its
registered capital. 
 3.3 Subsidiaries. Except as disclosed in Schedule 3.3 of the Disclosure Schedules,
no member of the Company Group has any other Subsidiaries, or is a participant in any joint venture, partnership or other similar arrangement, or otherwise owns (directly or indirectly) any share or interest in any other Person.  

 

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 3.4 Corporate Power and Authorization. Each Warrantor has all requisite power and
authority to execute and deliver the Transaction Documents to which it is a party and to carry out and perform its obligations thereunder. All action on the part of each Warrantor (and, as applicable, its officers, directors and shareholders)
necessary for the authorization, execution and delivery of the Transaction Documents to which it is a party, the performance of all obligations of each Warrantor thereunder, and the authorization, issuance (or reservation for issuance), sale and
delivery by the Company of the Series B-1 Shares being sold hereunder has been taken or will be taken prior to the Closing. The Transaction Documents to which each Warrantor is a party have been duly executed and delivered by such Warrantor and
constitute valid and legally binding obligations of such Warrantor, enforceable against such Warrantor in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other Laws of
general application affecting enforcement of creditors’ rights generally, and (ii) as limited by Laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. 

3.5 Valid Issuance of the Series B-1 Shares. The Series B-1 Shares that are being purchased by the Investors under this Agreement,
when issued, sold and delivered in accordance with the terms of this Agreement for the consideration expressed in this Agreement will be duly and validly issued, fully paid, and non-assessable, and will be free of preemptive rights, rights of first
refusal, and restrictions on transfer other than restrictions on transfer under the Transaction Documents. 
 3.6 Books and
Records. The material files, documents, instruments, papers, books and records relating to the business, operations, conditions (financial or other), results of operations, and assets and properties of the Company Group, each as supplied to the
Investors, are true, correct, complete and current in all material respects and have been maintained in accordance with sound business practices, including the maintenance of an adequate system of internal controls. A copy of the true and correct
member register of the Company as in effect immediately prior to the Closing is attached as Schedule 3.6 of the Disclosure Schedules. 

3.7 Financial Condition 

(A) There are no debts, liabilities, claims or other obligations owed by or against any member of the Company Group, whether
accrued, absolute, contingent or otherwise and whether due or to become due, other than liabilities set forth in the Historical Financial Statements and other than liabilities incurred in the ordinary course of business subsequent to the Balance
Sheet Date which, in the collective aggregate, do not exceed US$250,000 (or the equivalent thereof in another currency). No member of the Company Group is a guarantor of, or has provided security for, any indebtedness of any Person. 

(B) Schedule 3.7 of the Disclosure Schedules sets forth the Historical Financial Statements, which are true and complete in
all material respects. 
 (C) The Historical Financial Statements are true and correct in all material respects and a
fair and accurate representation of the financial position of the relevant member of the Company Group as of the dates presented and the results of operations and changes in its financial position for the periods then ended, have been prepared in
accordance with the books and records of such member of the Company Group, and have been prepared in accordance with PRC GAAP applied on a consistent basis throughout the periods involved, subject to normal year-end adjustments. The Company does not
have any account and has not engaged in any transaction that would affect the Historical Financial Statements if they were prepared on a consolidated basis for the Company Group, except for standard normalization. 

 

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 (D) All of the accounts receivable and notes receivable owing to the Company Group,
including without limitation all accounts receivable and notes receivable set forth on the Historical Financial Statements, constitute valid and enforceable claims, and are good and collectible in the ordinary course of business, net of any reserves
shown on the Historical Financial Statements (which reserves are adequate and were calculated on a basis consistent with PRC GAAP), and no further goods or services are required to be provided in order to complete the sales and to entitle the
Company Group to collect in full. There are no material contingent or asserted claims, refusals to pay, or other rights of set-off with respect to the Company Group to the actual knowledge of Guarantors. 

3.8 Changes in Condition. Except as specifically contemplated by the Transaction Documents, since the Balance Sheet Date each
member of the Company Group has operated its business and its assets in the ordinary course consistent with past practice, and furthermore: 

(A) None of the members of the Company Group has entered into any transaction that was not in the ordinary course of business.

 (B) There has been no Material Adverse Event (individually or when separate events are taken together) with respect to
any member of the Company Group or the Company Group taken as a whole. 
 (C) None of the members of the Company Group
has incurred any obligation or liability except obligations or liabilities incurred in the ordinary course of business that do not exceed US$100,000 individually (or the equivalent thereof in another currency) or US$250,000 (or the equivalent
thereof in another currency) in the collective aggregate. 
 (D) There has been no resignation or termination of
employment of any Senior Manager of any member of the Company Group, and to Guarantors’ actual knowledge, there is no impending resignation or termination of employment of any Senior Manager of any member of the Company Group. 

(E) There has been no labor dispute involving any member of the Company Group or any of its respective employees and, to
Guarantors’ actual knowledge, none is pending or threatened. 
 (F) There has been no material change in any
compensation arrangement or agreement with any employee of any member of the Company Group. 
 (G) There have been no
loans or guarantees made by any member of the Company Group to or for the benefit of any Person, other than travel advances and other advances made to employees in the ordinary course of business. 

(H) There has been no waiver by any member of the Company Group of a material right or debt owing to such member. 

 

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 (I) No member of the Company Group has purchased, acquired, sold, leased, granted a
security interest in, pledged, mortgaged, created a lien in, or otherwise transferred a material portion of any material asset, whether tangible or intangible, other than the sale of inventory in the ordinary course of business and other than the
creation of liens for taxes not yet due or payable. 
 (J) There has been no material change to a Material Contract (as
defined below), no member of the Company Group has entered or terminated a Material Contract, and there has been no change to the charter document of any member of the Company Group. 

(K) There has been no declaration, setting aside or payment or other distribution in respect of any of the share capital of any
member of the Company Group, or any direct or indirect redemption, purchase or other acquisition of any such share capital by any member of the Company Group. 

(L) No member of the Company Group has incurred any indebtedness for money borrowed. 

(M) There has been no agreement or commitment by any member of the Company Group to do any of the things described in this
Section 3.8. 
 3.9 Litigation. Except as set forth in Schedule 3.9 of the Disclosure Schedules, there is no
action, proceeding, or investigation or legal, administrative, arbitral or other method of settling disputes or disagreement against any member of the Company Group, or any Warrantor in connection with his or her relationship with the Company Group,
or, to the knowledge of Guarantors, against any employee, officer or director of any member of the Company Group in connection with their relationship with the Company Group, pending or, to Guarantors’ knowledge, threatened, or any basis
therefor to Guarantors’ knowledge, including but not limited to any action, proceeding or investigation that questions the validity of the Transaction Documents, the right of any Warrantor to enter into the Transaction Documents to which such
Warrantor is a party, the right of any Warrantor to consummate the transactions contemplated by such Transaction Documents, or that would result, either individually or in the aggregate, in any Material Adverse Event. There is no Order in effect
against any member of the Company Group. There is no action, suit, proceeding, or investigation by any member of the Company Group currently pending or which any of them presently intends to initiate. 

3.10 Title to Properties; Liens and Encumbrances. Each member of the Company Group solely owns or leases all properties and assets
necessary to conduct its business and operations as presently conducted and proposed to be conducted. Each member of the Company Group has good and marketable title to all its properties and assets, both real, personal and intangible, including
without limitation all properties and assets set forth on the Historical Financial Statements, and has good title to all its leasehold interests, in each case not being subject to any mortgage, pledge, lien, security interest, conditional sales
agreement, encumbrance, or charge, other than: (a) liens for current taxes not yet due and payable and (b) liens and encumbrances which do not materially detract from the value of the property or materially impair the operations of such
company. With respect to leased properties and assets, each member of the Company Group is in compliance in all material respects with all applicable leases. All properties and assets of each member of the Company Group are in a good state of repair
and in good working condition other than any normal wear and tear. None of the assets of any member of the Company Group is a state-owned asset, and inasmuch, none of the assets of any member of the Company Group is required by applicable Law to
undergo any form of valuation procedure prior to the consummation of the transactions contemplated by the Transaction Documents. 
  

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 3.11 Proprietary Rights 

(A) Each member of the Company Group owns or otherwise has the right or license to use all Intellectual Property material to do its
business or prospects. Except as set forth in Schedule 3.11(A) of the Disclosure Schedules, no claims are currently being asserted against any member of the Company Group, nor is any member of the Company Group aware of any threatened claim
or demand, by any other Person (i) challenging or questioning the Company Group’s validity, enforceability, ownership or use of any of the Intellectual Property owned or used by the Company Group or the validity or effectiveness of any
license or similar agreement with respect thereto or (ii) alleging any interference, infringement, misappropriation or unfair competition or trade practices. 

(B) Schedule 3.11(B) of the Disclosure Schedules sets forth a complete list of all registered or applied for patents,
copyrights or trademarks of each member of the Company Group. 
 (C) Each member of the Company Group has taken
reasonable steps and measures to establish and preserve ownership of or right to use all Intellectual Property material to the operation of its business or prospects. Each member of the Company Group has taken reasonable steps to register, protect,
maintain, and safeguard the Intellectual Property material to its business or prospects, including any Intellectual Property for which improper or unauthorized disclosure would impair its value or validity, and has had executed appropriate
nondisclosure and confidentiality agreements and made all appropriate filings, registrations and payments of fees in connection with the foregoing. To the knowledge of Guarantors, there is no infringement or misappropriation by any other Person of
any Intellectual Property of any member of the Company Group. 
 (D) Each member of the Company Group owns all rights in
and to any and all Intellectual Property used or planned to be used by such member of the Company Group, or covering or embodied in any past, current or planned activity, service or product of such member of the Company Group, which Intellectual
Property was made, developed, conceived, created or written by any consultant retained, or any employee employed, by such member of the Company Group. No former or current employee, and no former or current consultant, of any member of the Company
Group has any rights in any Intellectual Property made, developed, conceived, created or written by the aforesaid employee or consultant during the period of his or her retention by such member of the Company Group which can be asserted against such
member of the Company Group. 
 (E) No Intellectual Property owned by any member of the Company Group and material to the
operation of its business or prospects is the subject of any security interest, lien, license or other Contract granting rights therein to any other Person. The Company Group has not (i) transferred or assigned, (ii) granted an exclusive
license to or (iii) provided or licensed in source code form, any material Intellectual Property owned by any member of the Company Group to any Person. 
  

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 3.12 Tax Matters 

(A) No member of the Company Group has ever been, nor will become, as a result of the transactions contemplated herein, a
“passive foreign investment company” (“PFIC”) or a “controlled foreign corporation” (“CFC”), in each case, as defined in the Internal Revenue Code of 1986, as amended (the
“Code”). No member of the Company Group anticipates that it will become a PFIC or CFC for the current taxable year or any future taxable year. 

(B) Each member of the Company Group is treated as a corporation for U.S. federal income tax purposes. 

(C) The provisions for taxes as shown on each balance sheet included in the Historical Financial Statements are sufficient in all
material respects for the payment of all accrued and unpaid applicable taxes of each member of the Company Group as of the date of each such balance sheet, whether or not assessed or disputed as of the date of each such balance sheet. There have
been no extraordinary examinations or audits of any tax returns or reports by any applicable Governmental Authority. Each member of the Company Group has filed or caused to be filed on a timely basis all tax returns that are or were required to be
filed (to the extent applicable), and have paid, or made provision for the payment of, all taxes that have become due, except where the failure to make such payment would not, individually or in the aggregate, reasonably be expected to result in a
Material Adverse Event. There are in effect no waivers of applicable statutes of limitations with respect to taxes for any year. 

(D) No member of the Company Group or, solely by virtue of their status as shareholders of any member of the Company Group, none
of the shareholders of any member of the Company Group, has personal liability under local Law for the debts and claims of the relevant member of the Company Group. There has been no communication from any tax authority relating to or affecting the
tax classification of any member of the Company Group. 
 3.13 Material Contracts 

(A) For purposes hereof, “Material Contract” means each Contract (other than the Transaction Documents) to which a
member of the Company Group is a party or otherwise bound that (i) involves payments (or a series of payments), contingent or otherwise, of US$100,000 (or the equivalent thereof in another currency) or more individually or US$250,000 (or the
equivalent thereof in another currency) or more in the aggregate, in cash, property or services, (ii) is with a Governmental or Regulatory Authority, (iii) limits or restricts any member of the Company Group’s ability to compete or
otherwise conduct its business in any manner, time or place, or that contains any exclusivity provision, (iv) grants a power of attorney, agency or similar authority, (v) relates to indebtedness for money borrowed, provides for an
extension of credit, provides for any guaranty, or provides for a “keep well” or other agreement to maintain any financial statement condition of another Person, (vi) relates to Intellectual Property, other than
“shrink-wrap” or “off-the-shelf” commercially available software, (vii) is with an Affiliate of any member of the Company Group or any Related Party, (viii) is a lease on real or personal property, (ix) is an
insurance policy, (x) is outside the ordinary course of business that involves payments (or a series of payments) of US$10,000 (or the equivalent thereof in another currency) or more individually or US$50,000 (or the equivalent thereof in
another currency) or more in the aggregate, in cash, property or services, or (xi) is otherwise material to any member of the Company Group or is a Contract on which any member of the Company Group is substantially dependent. 

 

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 (B) A true, fully-executed copy of each Material Contract (and a written summary of
each non-written Material Contract) has been delivered to the Investors. Each Material Contract is a valid and binding agreement of the member of the Company Group that is a party thereto, the performance of which does not and will not violate any
applicable Law or Order, and is in full force and effect, and such member of the Company Group has duly performed all of its obligations under each Material Contract to the extent that such obligations to perform have accrued, and no breach or
default, alleged breach or alleged default, or event which would (with the passage of time, notice or both) constitute a breach or default thereunder by such member of the Company Group or, to the knowledge of Guarantors, any other party or obligor
with respect thereto, has occurred, or as a result of this Agreement or performance hereof will occur, except for such breach or default that would not result in a Material Adverse Event. No member of the Company Group has given notice (whether or
not written) that it intends to terminate a Material Contract or that any other party thereto has breached, violated or defaulted under any Material Contract. No member of the Company Group has received any notice (whether or not written) that
(i) it has breached, violated or defaulted under any Material Contract or (ii) any other party thereto intends to terminate such Material Contract. 

3.14 Compliance with Laws and Other Instruments. 

(A) Each member of the Company Group is, and at all times has been, in compliance in all material respects with all Laws and Orders
that are applicable to it or to the conduct or operation of its business or the ownership or use of any of its assets. 
 (B)
No event has occurred or circumstance exists that (with or without notice or lapse of time) (i) may constitute or result in a violation by any member of the Company Group of, or a failure on the part of such member of the Company Group to
comply with, any Law or Order, except for such violation or failure that would not result in a Material Adverse Event or (ii) may give rise to any obligation on the part of any member of the Company Group to undertake, or to bear all or any
portion of the cost of, any remedial action of any nature. 
 (C) None of the members of the Company Group has received
any notice or other communication (whether oral or written) from any Governmental or Regulatory Authority regarding (i) any actual, alleged, possible, or potential violation of, or failure to comply with, any Law or Order or (ii) any
actual, alleged, possible, or potential obligation on the part of such member of the Company Group to undertake, or to bear all or any portion of the cost of, any remedial action of any nature. 

(D) None of the members of the Company Group nor any director, officer, agent, employee, or any other Person associated with or
acting for or on behalf of such member of the Company Group, has directly or indirectly (i) made any contribution, gift, bribe, rebate, payoff, influence payment, kickback, or other payment to any entity, private or public, regardless of form,
whether in money, property, or services (w) to obtain favorable treatment in securing business, (x) to pay for favorable treatment for business secured, (y) to obtain special concessions or for special concessions already obtained,
for or in respect of such member of the Company Group, or (z) in violation of any Law; or (ii) established or maintained any fund or asset that has not been recorded in the books and records of such member of the Company Group. 

 

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 (E) None of the members of the Company Group is in violation of its Memorandum or
Articles of Association or equivalent constitutive documents as in effect. 
 (F) The execution, delivery, and
performance of the Transaction Documents by Guarantors and by any members of the Company Group do not and will not (i) result in any violation of, be in conflict with, require a consent under, or constitute a default under, with or without the
passage of time or the giving of notice or otherwise, (w) any provision of the Memorandum or Articles of Association or equivalent constitutive documents of any member of the Company Group as in effect at the Closing, (x) any provision of
any Order to which any member of the Company Group is a party or by which it is bound, (y) any of the Material Contracts, or (z) any Law applicable to any member of the Company Group; (ii) accelerate or constitute an event entitling
the holder of any indebtedness of any member of the Company Group to accelerate the maturity of any such indebtedness or to increase the rate of interest presently in effect with respect to such indebtedness; (iii) cause any member of the
Company Group to be in default of its obligations under any indebtedness agreement; or (iv) result in the creation of any encumbrance upon any of the properties or assets of any member of the Company Group. 

(G) Each of the Guarantors has obtained valid approval from the State Administration of Foreign Exchange of the PRC (the
“SAFE”) on his or her shareholding in the Company and the Guarantors have completed amendment registration of such SAFE approval in connection with the financing contemplated under the legal documents entered into with the holders
of Series A Shares, as evidenced by the approval documents set forth in Schedule 3.14(G) of the Disclosure Schedules. 

3.15 Employee Matters. All Senior Managers and all of the other employees of each of the members of the Company Group are devoting
their full professional time to the Company Group. To the knowledge of Guarantors, no employee of any member of the Company Group is in violation of any Order, or any provision of any Contract, relating to such employee's relationship with the
Company Group. For purposes hereof, “Benefit Plan” means any plan, Contract or other arrangement, formal or informal, whether oral or written, providing any benefit to any present or former officer, director or employee, or
dependent or beneficiary thereof, including any employment agreement or profit sharing, deferred compensation, stock option performance stock, employee stock purchase, bonus, severance, retirement, health or insurance plan. Except as required by
applicable Law or except as set forth in Schedule 3.15 of the Disclosure Schedule, no member of the Company Group has any Benefit Plans. To the knowledge of Guarantors, no officer, Senior Manager or key employee, or any group of employees,
intends to terminate their employment with the Company Group, and no member of the Company Group has a present intention to terminate the employment of any of the foregoing. No employee of the Company Group is owed any back wages or other
compensation for services rendered except as set forth on the Historical Financial Statements. There is no labor strike, labor slow down, labor claim, labor dispute or labor union organization activities pending or, to the actual knowledge of
Guarantors, threatened between any member of the Company Group and its employees. Each member of the Company Group has complied in all material respects with all applicable Laws related to employment and related to the Benefit Plans. 

 

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 3.16 Transactions with Affiliates. (i) All Contracts (other than the Transaction
Documents and the transactions contemplated herein and therein) to or by which any member of the Company Group, on the one hand, and any Related Party, on the other hand, are or have been a party or otherwise bound or affected are set forth on
Schedule 3.16 of the Disclosure Schedule, (ii) all such Contracts were made on terms and conditions as favorable to such member of the Company Group as would have been obtainable by it at the time in a comparable arm’s-length
transaction with an unrelated party; and (iii) to the knowledge of Guarantors, no Related Party has any direct or indirect ownership in any firm or corporation with which any member of the Company Group has a business relationship, or any firm
or corporation that competes with any member of the Company Group, except for ownership of less than 1% of any class or other equity of publicly traded companies. There are no claims that any Guarantor has or may claim to have against the Company or
any Domestic Entity. 
 3.17 Governmental Consents. No consent, approval, Order, or authorization of, or registration,
qualification, designation, declaration, or filing with, any Governmental or Regulatory Authority on the part of Warrantor will be required in connection with the execution, delivery and performance of the Transaction Documents and the consummation
of the transactions contemplated thereby which has not already been secured or effected or will be secured or effected prior to the Closing. 

3.18 Permits. Each member of the Company Group has all material franchises, permits, licenses, approvals, authorizations and any
similar governmental authority necessary for the conduct of its business as now being conducted (the “Material Licenses”), and the Company Group can obtain, without undue burden or expense, all Material Licenses for the conduct of
its business as proposed to be conducted. The Material Licenses are, and will remain, in full force and effect for not less than six months after the Closing. The consummation of the transactions contemplated under the Transaction Documents will not
result in the termination or revocation of any of the Material Licenses. To Guarantors’ knowledge, none of the members of the Company Group is in default in any material respect under any of its Material Licenses and has not received any
written notice relating to the suspension, revocation or modification of any such Material Licenses. 
 3.19 Entire
Business. There are no material facilities, services, assets or properties shared with any other Person, which are used in connection with the business of the Company Group. 

3.20 Exempt Offering. Subject in part to the truth and accuracy of the Investors’ representations set forth in Section 4
of this Agreement, the offer, sale and issuance of the Series B-1 Shares, are exempt from the registration requirements of all applicable securities Laws, and neither the Company nor any authorized agent acting on its behalf will take any action
that would cause the loss of such exemption. Except for the registration rights set forth in the Restated Investors’ Rights Agreement (as defined below), none of the members of the Company Group has granted any registration rights to any other
Person with respect to sales of any of its securities in the United States or elsewhere. 
 3.21 Insurance. Each member
of the Company Group has procured and maintain in effect policies of insurance with respect to its properties and business of the kinds and in the amounts not less than those customarily obtained by companies of similar size and in a similar line of
business. 
  

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 3.22 Business Plan. All of the facts contained in the business plan and the budget
for the year 2009 delivered to the Investors (the “Business Plan”) are true and correct in all material respects, and the Company believes that there is a reasonable basis for all of the assumptions and projections contained in the
Business Plan. 
 3.23 Full Disclosure. No representation or warranty of any Warrantor set forth in this Agreement nor
any written information furnished by or on behalf of the Warrantor to the Investors in connection with the transactions contemplated by this Agreement or any of the Transaction Documents contains any untrue statement of material fact, or omits to
state a fact necessary to make the statements contained therein, in light of the circumstances in which they were made, not misleading in any material respect. Each Warrantor has fully provided the Investors with all the information that the
Investors have reasonably requested for deciding whether to purchase the Series B-1 Shares. 
 4. Representations and
Warranties of Investors. Each Investor represents and warrants to the Company that: 
 4.1 Organization, Good Standing
and Qualification. It is duly organized, validly existing and in good standing under the Laws of the respective jurisdiction in which it is incorporated. 

4.2 Corporate Power and Authorization. It has all requisite power and authority to execute and deliver the Transaction Documents
to which it is a party and to carry out and perform its obligations thereunder. The Transaction Documents to which the Investor is a party have been duly executed and delivered by the Investor and constitute valid and legally binding obligations of
the Investor, enforceable against the Investor in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other Laws of general application affecting enforcement of creditors'
rights generally, and (ii) as limited by Laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. 

4.3 Purchase Entirely for Own Account. This Agreement is made with the Investor in reliance upon its representation to the
Company, which by its execution of this Agreement it hereby confirms, that the Series B-1 Shares to be received by it hereunder will be acquired for investment for its own account, not as a nominee or agent, and not with a view to the resale or
distribution of any part thereof, and that it has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, the Investor further represents that it does not have any Contract
with any Person to sell, transfer or grant participations to any Person, with respect to any Series B-1 Share. 
 4.4
Investment Experience. The Investor is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in
financial or business matters that it is capable of evaluating the merits and risks of the investment in the Series B-1 Shares. 

4.5 Status of Investor. The Investor is (i) purchasing the Series B-1 Shares in compliance with Regulation D under the
Securities Act of 1933, as amended (the “Act”) and in accordance with any applicable securities Laws of any state of the United States or any other jurisdiction and (ii) an “accredited investor” within the meaning of
Securities and Exchange Commission (“SEC”) Rule 501 of Regulation D, as presently in effect, under the Act. 
  

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 4.6 Restricted Securities. The Investor understands that the Series B-1 Shares it is
purchasing are characterized as “restricted securities” under U.S. federal securities Laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such Laws and applicable
regulations such securities may be resold without registration under the Act only in certain limited circumstances. In this connection, the Investor represents that it is familiar with SEC Rule 144, as presently in effect, and understands the resale
limitations imposed thereby and by the Act. 
 4.7 Legends. It is understood that the certificates evidencing the Series
B-1 Shares shall bear the following legend: 
 “THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR A VALID EXEMPTION THEREFROM.” 

5. Confidentiality 

5.1 Disclosure of Terms. The terms and conditions of the Transaction Documents (collectively, the “Financing
Terms”), including their existence, shall be considered confidential information and shall not be disclosed by any of the parties hereto to any other Person except in accordance with the provisions set forth below. 

5.2 Permitted Disclosures. Notwithstanding the foregoing, (i) each member of the Company Group and the Investors, as
appropriate, may disclose any of the Financing Terms to its current or bona fide prospective investors, employees, investment bankers, lenders, accountants and attorneys, in each case only where such Persons are under appropriate nondisclosure
obligations; and (ii) each Investor may disclose any of the Financing Terms to its fund manager and the employees thereof so long as such Persons are under appropriate nondisclosure obligations. 

5.3 Legally Compelled Disclosure. In the event that any party hereto is requested or becomes legally compelled (including without
limitation, pursuant to securities Laws) to disclose the existence or content of any of the Financing Terms hereof in contravention of the provisions of this Section 5, such party (the “Disclosing Party”) shall promptly provide
the other parties hereto with written notice of that fact so that such other parties may seek a protective Order, confidential treatment or other appropriate remedy. In such event, the Disclosing Party shall furnish only that portion of the
information that is legally required and shall exercise reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information to the extent reasonably requested by the other parties hereto. 

5.4 Other Exceptions. Notwithstanding any other provision of this Section 5, the confidentiality obligations of the parties
shall not apply to: (a) information which a restricted party learns from a third party having the right to make the disclosure, provided the restricted party complies with any restrictions imposed by the third party; (b) information which
is in the restricted party’s possession prior to the time of disclosure by the protected party and not acquired by the restricted party under a confidentiality obligation; (c) information which enters the public domain without breach of
confidentiality by the restricted party; or (d) disclosures to a party’s accountants and attorneys so long as they agree to keep such disclosures confidential. 
  

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 5.5 Other Information. The provisions of this Section 5 shall be in addition to,
and not in substitution for, the provisions of any separate nondisclosure agreement executed by any of the parties hereto with respect to the transactions contemplated hereby. 

6. Conditions to Investors’ Obligations at Closing. The obligations of the Investors under Section 2 of this Agreement
are subject to the fulfillment or waiver by the Investors on or before the Closing of each of the following conditions: 
 6.1
Representations and Warranties. The representations and warranties of the Warrantors contained in Section 3 shall be true and accurate on and as of the Closing with the same effect as though such representations and warranties had been
made on and as of the date of such Closing. Each Warrantor shall have delivered a certificate dated as of the Closing to the Investors, in form and substance reasonably satisfactory to the Investors, certifying to such effect. 

6.2 Performance. Each Warrantor shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by it or him on or before the Closing. Each Warrantor shall have delivered a certificate dated as of the Closing to the Investors, in form and substance reasonably satisfactory to the
Investors, certifying to such effect. 
 6.3 Approvals and Consents. All authorizations, approvals, consents or permits
of any competent Governmental or Regulatory Authority or of any third party that are required to be obtained by any Warrantor before the Closing in connection with the consummation of the transactions contemplated by this Agreement shall have been
duly obtained and effective as of the Closing. 
 6.4 Proceedings and Documents. All corporate, legal and other
proceedings taken by each Warrantor in connection with the transactions contemplated at the Closing and all documents incident thereto shall be reasonably satisfactory in form and substance to the Investors, and the Investors shall have received all
such counterpart original and certified or other copies of such documents as it may reasonably request. 
 6.5 Restated
Memorandum and Articles. The Company shall have duly adopted the Restated Memorandum and Articles by all necessary corporate action of the board of directors and shareholders of the Company, and shall have filed the Restated Memorandum and
Articles with the Registrar of Companies of the Cayman Islands. 
 6.6 Due Diligence. The Investors shall have completed
all business, technical, legal and financial due diligence investigation of the Company Group to their reasonable satisfaction. 
  

 17 

 6.7 Approval of Investment. The investment committee or the general partner of the
Investors shall have approved the transactions contemplated hereunder. 
 6.8 Additional Transaction Documents. An
Amended and Restated Investors’ Rights Agreement (the “Restated Investors’ Rights Agreement”) substantially in the form attached hereto as Exhibit B, a Series B Preferred Share Restriction Agreement (the
“Series B Preferred Share Restriction Agreement”) substantially in the form attached hereto as Exhibit C, a Series B Preferred Right of First Refusal and Co-Sale Agreement (the “Series B Preferred Right of First
Refusal and Co-Sale Agreement”) substantially in the form attached hereto as Exhibit D, a Management Rights Letter (the “Management Rights Letter”) substantially in the form of attached hereto as Exhibit E,
shall have been duly executed and delivered by the parties thereto to the Investors, and each such agreement shall be in full force and effect. 

6.9 Compliance Certificate. The Company shall have delivered to the Investors a certificate dated as of the Closing, signed by the
Chief Executive Officer of the Company, in form and substance reasonably satisfactory to the Investors, certifying that the conditions set forth in this Section 6 have been satisfied and also attaching thereto (i) the certified Restated
Memorandum and Articles as then in effect, (ii) copies of all resolutions approved by the shareholders and board of directors of the members of the Company Group related to the transactions contemplated hereby, and (iii) a good standing
certificate with respect to the Company issued by the applicable authority in the Cayman Islands. 
 6.10 Legal Opinions.
The Investors shall have received from Conyers Dill & Pearman, Cayman Islands counsel for the Company and Fangda Partners, PRC counsel for the Company, written opinions dated and delivered as of the date of the Closing, in form and
substance satisfactory to the Investors. 
 7. Conditions to Company’s Obligations at Closing. The obligations of
the Company under Section 2 are subject to the fulfillment or waiver by the Company on or before the Closing of each of the following conditions by the Investors: 

7.1 Representations and Warranties. The representations and warranties of each Investor contained in Section 4 shall be true
and accurate on and as of the Closing with the same effect as though such representations and warranties had been made on and as of the date of such Closing. 

7.2 Approvals and Consents. All authorizations, approvals, consents or permits of any competent Governmental or Regulatory
Authority or of any third party that are required to be obtained by the Investors before the Closing in connection with the consummation of the transactions contemplated by this Agreement shall have been duly obtained and effective as of the
Closing. 
 8. Covenants of Warrantors. Each Warrantor hereby jointly and severally covenants to the Investors as
follows: 
 8.1 Use of Proceeds. The proceeds from the sale of the Series B-1 Shares hereunder shall be used for the
growth and expansion capital, capital expenditure and general working capital needs related to the Company Group. For the avoidance of doubt, in no event shall the proceeds or any part thereof be applied or used to repurchase, redeem or cancel any
securities junior to the Series B-1 Shares, or to make the payments to any shareholder, director, Senior Manager or officer of any member of the Company Group unless in connection with a bona fide arms-length transaction duly approved by the Board,
which shall include the affirmative vote of the Series B Director. 
  

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 8.2 Business of Company Group. The business of the Company Group shall be restricted
to the carrying on of the Principal Business. 
 8.3 SAFE Registration. Each of the Warrantors (as applicable) shall use
its/his best endeavors to fully comply with all requirements and obligations of the PRC Governmental or Regulatory Authorities with respect to the Guarantors’ shareholding in the Company on a continuing basis. Without limiting the generality of
the preceding sentence, the Warrantors (as applicable) shall use their best endeavors to file for amendment registration and receive approvals from the Changzhou Branch of the SAFE within three (3) months after the Closing in relation to the
transactions contemplated hereunder. If the compliance with such time limit proves to be abnormally difficult due to the registration practice implemented by the Changzhou Branch of the SAFE, the Board will review the regulatory framework and its
impact every two (2) months after the expiry of the aforesaid three (3) month period to ensure the Warrantors’ immediate attendance to such registration requirement. 

8.4 Employee Incentive Plan. Options granted under the ESOP shall vest as follows: twenty-five percent (25%) of the shares
vest one (1) year following the vesting commencement date, with the remaining seventy-five percent (75%) monthly vesting in thirty-six (36) equal installments over the next three (3) years. No stock plan, stock purchase, stock
option or other agreement or understanding between the Company and any holder of any equity securities or rights to purchase equity securities of the Company shall provide for acceleration or other changes in the vesting provisions or other terms of
such agreement or understanding as the result of termination of employment (whether actual or constructive), except that in the event of a merger, consolidation, sale of all or substantially all of the assets of the Company or any other transaction,
as a result of which the then existing shareholders of the Company will cease to own a majority of the voting securities of the Company upon occurrence of such event, should an employee be terminated without cause within one (1) year after such
event, the Board (with the consent from the Series B Director) may decide to grant one (1) year acceleration to such terminated employee. Notwithstanding the foregoing, the parties agree that the outstanding options of the Company on the date
of this Agreement as disclosed to the Investors shall vest and be exercised according to the existing terms and conditions of such options. 

8.5 Patent Transfer. Each of Mr. Jiang Yikang and Mr. Jiang Decheng shall, and each of the other Warrantors shall
procure that each of Mr. Jiang Yikang and Mr. Jiang Decheng, duly transfer all patents and patent applications currently held under his own name to Changzhou Kanghui as soon as practicable without any consideration to the extent permitted
by PRC law. 
 8.6 Board of Domestic Entity. Each Warrantors shall cause the board of directors of each Domestic Entity
to be composed in the same manner as provided in the Restated Memorandum and Articles as soon as practicable. 
  

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 8.7 Minority Shareholders. The Company and the Guarantors shall use their best
endeavors to procure that Shen Jiankai

 and Shi Wenmei 

 join the Restated Investors’ Rights Agreement, the Series B Preferred Share Restriction Agreement and the Series B Preferred Right of First Refusal and Co-Sale Right Agreement based on the terms and conditions
thereof or to otherwise solve the disputes with them in connection with the issue of Series B-1 Shares, in each case to the satisfaction of the holders of the Series B Preferred Shares, as soon as practicable, but in no event later than six
(6) months after the Closing. 
 9. Miscellaneous 

9.1 Survival of Warranties. The warranties and representations of Guarantors and the Investors contained in this Agreement shall
survive the execution and delivery of this Agreement and shall remain effective for a period of three years from the date of the Closing. Such warranties and representations shall in no way be affected by any investigation of the subject matter
thereof made by or on behalf of the Investors or Guarantors. 
 9.2 Governing Law. This Agreement shall be governed by
and construed under the Laws of the State of New York, without giving effect to the principles of conflicts of law thereunder. 

9.3 Indemnity. The Company, the Domestic Entities, and Guarantors shall, severally and jointly, indemnify the Investors for any
action, cost, damage, disbursement, expense, liability, loss, deficiency, diminution in value, obligation, penalty or settlement of any kind or nature, including reasonable advisor’s fees and other reasonable expenses of investigation and
defence of any of the foregoing, actually incurred by the Investors directly as a result of any breach or violation of any representation or warranty or any covenant made by the Company, any Domestic Entity, or any other Warrantor contained herein.

 9.4 Dispute Resolution 

(A) Any dispute, controversy or claim arising out of or relating to this Agreement, or the interpretation, breach, termination or
validity hereof, shall first be subject to resolution through consultation of the parties to such dispute, controversy or claim. Such consultation shall begin within seven (7) days after one party hereto has delivered to the other party hereto
a written request for such consultation. If within thirty (30) days following the commencement of such consultation the dispute cannot be resolved, the dispute shall be submitted to arbitration upon the request of either party with notice to
the other. 
 (B) The arbitration shall be conducted in Hong Kong under the auspices of the Hong Kong International
Arbitration Centre (the “Centre”). There shall be a single arbitrator. If the parties do not agree to appoint an arbitrator who has consented to participate within thirty (30) days after a notice of arbitration, the relevant
appointment shall be made by the Secretary General of the Centre. 
 (C) The arbitration proceedings shall be conducted
in English. The arbitration tribunal shall apply the Arbitration Rules of the United Nations Commission on International Trade Law, as in effect at the time of the arbitration. However, if such rules are in conflict with the provisions of this
Section 9.4, including the provisions concerning the appointment of arbitrators, the provisions of this Section 9.4 shall prevail. 
  

 20 

 (D) The arbitrator shall decide any dispute submitted by the parties to the
arbitration strictly in accordance with the substantive Law of the State of New York and shall not apply any other substantive Law. 

(E) Each party to arbitration hereunder shall cooperate with the other in making full disclosure of and providing complete access
to all information and documents requested by the other in connection with such arbitration proceedings, subject only to any confidentiality obligations binding on such party. 

(F) The award of the arbitration tribunal shall be final and binding upon the disputing parties, and the prevailing party may
apply to a court of competent jurisdiction for enforcement of such award. 
 (G) Either party shall be entitled to seek
preliminary injunctive relief, if possible, from any court of competent jurisdiction pending the constitution of the arbitral tribunal. 

9.5 Expenses. The Company shall bear its own costs in connection with this Agreement. The Company shall also reimburse the
Investors for the reasonable costs and expenses, up to US$60,000, incurred by the Investors in connection with the due diligence investigations of the Company Group, and the preparation, negotiation, execution, delivery and performance of this
Agreement and other Transaction Documents and the transactions contemplated hereby and thereby, provided that (i) the Closing has taken place pursuant to this Agreement, or (ii) the Closing fails to take place due to default by any of the
Warrantors. The Company shall have no obligation to reimburse the Investors for any costs and expenses in the event that the Closing fails to take place due to default of the Investors. 

9.6 Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the
benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any
rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. Each Investor shall have the right to transfer the rights and obligations hereunder to any of its Affiliates without
the consent of other parties thereto. 
 9.7 Counterparts. This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Any counterpart or other signature delivered by facsimile shall be deemed for all purposes as being good and valid execution and
delivery of this Agreement by that party. 
 9.8 Headings. The headings used in this Agreement are used for convenience
only and are not to be considered in construing or interpreting this Agreement. 
 9.9 Notices. Any notice required or
permitted pursuant to this Agreement shall be given in writing and shall be given either personally or by sending it by next-day or second-day courier service, fax, electronic mail or similar means to the address as shown below the signature of such
party on the signature page of this Agreement (or at such other address as such party may designate by 15 days’ advance written notice to the other parties to this Agreement given in accordance with this Section). Where a notice is sent by
next-day or second-day courier service, service of the notice shall be deemed to be effected by properly addressing, pre-paying and sending by next-day or second-day service through an internationally-recognized courier a letter containing the
notice, with a confirmation of delivery, and to have been effected at the expiration of two days after the letter containing the same is sent as aforesaid. Where a notice is sent by fax or electronic mail, service of the notice shall be deemed to be
effected by properly addressing, and sending such notice through a transmitting organization, with a written confirmation of delivery, and to have been effected on the day the same is sent as aforesaid. 

 

 21 

 9.10 Finder’s Fee. Each of Guarantors represents and warrants, jointly and
severally, to the Investors that it neither is nor will be obligated for any finders’ fee or commission in connection with the transaction contemplated hereunder. Each Investor represents and warrants to Guarantors that it neither is nor will
be obligated for any finders’ fee or commission in connection with the transaction contemplated hereunder. The Investors agree to indemnify and to hold harmless Guarantors from any liability for any commission or compensation in the nature of a
finders’ fee (and the costs and expenses of defending against such liability or asserted liability) for which it or any of its officers, partners, employees or representatives is responsible in connection with the transaction contemplated
hereunder. Guarantors jointly and severally agree to indemnify and hold harmless any Investor from any liability for any commission or compensation in the nature of a finders’ fee (and the costs and expenses of defending against such liability
or asserted liability) for which any Warrantor or any of its officers, employees or representatives is responsible in connection with the transactions contemplated hereunder. 

9.11 Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be
waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the parties hereto. 

9.12 Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be valid, legal,
and enforceable under all applicable Laws. If, however, any provision of this Agreement shall be invalid, illegal, or unenforceable under any such applicable Law in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform
to the minimum requirements of such Law, or, if for any reason it is not deemed so modified, it shall be invalid, illegal, or unenforceable only to the extent of such invalidity, illegality, or limitation on enforceability without affecting the
remaining provisions of this Agreement, or the validity, legality, or enforceability of such provision in any other jurisdiction. 

9.13 Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement among the parties with
respect to the subject matter of this Agreement. Any prior or contemporaneous agreement, discussion, understanding or correspondence among the parties (including any prior representations or warranties given by the parties) regarding the subject
matter of this Agreement is superseded by this Agreement. 
 9.14 Further Assurances. From and after the date hereof, the
parties hereto shall execute and deliver such instruments, documents or other writings, and shall take such further actions, as may be reasonably necessary or desirable to carry out and to effectuate fully the intent and purpose of this Agreement.

  

 22 

 9.15 Rights Cumulative. Each and all of the various rights, powers and remedies of a
party hereto will be considered to be cumulative with and in addition to any other rights, powers and remedies which such party may have at Law or in equity in the event of the breach of any of the terms of this Agreement. The exercise or partial
exercise of any right, power or remedy will neither constitute the exclusive election thereof nor the waiver of any other right, power or remedy available to such party. 

9.16 Interpretation. Unless a provision hereof expressly provides otherwise: (i) the term “or” is not exclusive;
(ii) words in the singular include the plural, and words in the plural include the singular; (iii) the terms “herein,” “hereof,” and other similar words refer to this Agreement as a whole and not to any particular
section, subsection, paragraph, clause, or other subdivision; (iv) the term “including” will be deemed to be followed by “, but not limited to,”; (v) the masculine, feminine, and neuter genders will each be deemed to
include the others; (vi) the terms “shall,” “will,” and “agrees” are mandatory, and the term “may” is permissive; (vii) the term “day” means “calendar day”, and (viii) all
references to dollars are to currency of the United States of America. 
 9.17 No Waiver. Failure to insist upon strict
compliance with any of the terms, covenants, or conditions hereof will not be deemed a waiver of such term, covenant, or condition, nor will any waiver or relinquishment of, or failure to insist upon strict compliance with, any right, power or
remedy power hereunder at any one or more times be deemed a waiver or relinquishment of such right, power or remedy at any other time or times. 

9.18 No Presumption. The parties acknowledge that any applicable Law that would require interpretation of any claimed ambiguities
in this Agreement against the party that drafted it has no application and is expressly waived. If any claim is made by a party relating to any conflict, omission or ambiguity in the provisions of this Agreement, no presumption or burden of proof or
persuasion will be implied because this Agreement was prepared by or at the request of any party or its counsel. 
 9.19
Specific Performance. Each of the parties hereto recognizes and acknowledges that a breach by it of any covenants or agreements contained in this Agreement will cause the other party to sustain damage for which it would not have an adequate
remedy at Law for money damages, and therefore each of the parties hereto agrees that in the event of any such breach the aggrieved party shall be entitled to the remedy of specific performance of such covenants and agreements and injunctive and
other equitable relief in addition to any other remedy to which it may be entitled, at Law or in equity. 
 9.20
Termination. This Agreement may be terminated by the Investors on or after April 30, 2009, by written notice to the Company, if the Closing has not occurred on or prior to such date. Such termination under this Section 9.20 shall be
without prejudice to any claims for damages or other remedies that the parties may have under this Agreement or applicable Law. 

[The remainder of this page has been intentionally left blank.] 

 

 23 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

					
	Company:
	
	CHINA KANGHUI HOLDINGS
		
	By:	 	 /s/ JIANG YIKANG

		 	Name:	 	  

		 	Capacity:	 	  

	
	Contact Address:
		 	No. 1-8, Tianshan Road
		 	Xinbei District, Changzhou City
		 	Jiangsu Province
		 	P.R. China

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

					
	Domestic Entities:
	
	

	
	Contact Address:
		 	No. 1-8, Tianshan Road
		 	Xinbei District, Changzhou City
		 	Jiangsu Province,
		 	P.R. China
	
	 BEIJING LIBEIER BIOLOGY ENGINEERING RESEARCH INSTITUTE CO., LTD.

 

		
	By:	 	  

		 	Name:	 	  

		 	Capacity:	 	  

	
	Contact Address:
		 	Room 804B, No.4 of Building
		 	Wanliuyicheng,
		 	No. 11 on Changchunqiao Road,
		 	Haidian District, Beijing, P.R. China

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

					
	Domestic Entities:
	
	 CHANGZHOU KANGHUI MEDICAL INNOVATION CO., LTD.

 

		
	By:	 	  

		 	Name:	 	  

		 	Capacity:	 	  

	
	Contact Address:
		 	No. 1-8, Tianshan Road
		 	Xinbei District, Changzhou City
		 	Jiangsu Province
		 	P.R. China
	
	

	
	Contact Address:
		 	Room 804B, No.4 of Building
		 	Wanliuyicheng,
		 	No. 11 on Changchunqiao Road,
		 	Haidian District, Beijing, P.R. China

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	Guarantors:
		
	By:	 	 /s/ JIANG YIKANG

		 	JIANG YIKANG 

	
	Contact Address:
		 	Room 501, Unit Jia
		 	Block 9
		 	Huaide Yuan, Zhonglou District
		 	Changzhou, Jiangsu
		 	P.R. China
		
	By:	 	 /s/ ZHAO GANG

		 	ZHAO GANG 

	
	Contact Address:
		 	No. 59-3, Dongxiatang
		 	Changzhou, Jiangsu
		 	P.R. China
		
	By:	 	 /s/ JIANG HUIYING

		 	JIANG HUIYING 

	
	Contact Address:
		 	Room 501, Unit Jia
		 	Block 9
		 	Huaide Yuan, Zhonglou District
		 	Changzhou, Jiangsu
		 	P.R. China
		
	By:	 	 /s/ JIANG ZHENYU

		 	JIANG ZHENYU

	
	Contact Address:
		 	Room 501, Unit Jia
		 	Block 9
		 	Huaide Yuan, Zhonglou District
		 	Changzhou, Jiangsu
		 	P.R. China

			
	By:	 	 /s/ DU JUN

		 	DU JUN 

	
	Contact Address:
		 	No. 1 Lao Jie Street
		 	Jinfeng Zhen, Zhangjia Gang
		 	Jiangsu, P.R. China
		
	By:	 	 /s/ DU TINGTING

		 	DU TINGTING 

	
	Contact Address:
		 	No. 3 Yizheng Road
		 	Zhenjiang, Jiangsu
		 	P.R. China
		
	By:	 	 /s/ YANG XIAOHUI

		 	YANG XIAOHUI 

	
	Contact Address:
		 	No. 125 Longhutang East Street
		 	Xinbei District, Changzhou
		 	Jiangsu, P.R. China
		
	By:	 	 /s/ WANG JINGBO

		 	WANG JINGBO
	
	Contact Address:
		 	APT BLK 286C
		 	TOH GUAN Road #13-24
		 	Singapore

			
	By:	 	 /s/ DU JUN

		 	DU JUN 

	
	Contact Address:
		 	No. 1 Lao Jie Street
		 	Jinfeng Zhen, Zhangjia Gang
		 	Jiangsu, P.R. China
		
	By:	 	 /s/ DU TINGTING

		 	DU TINGTING 

	
	Contact Address:
		 	No. 3 Yizheng Road
		 	Zhenjiang, Jiangsu
		 	P.R. China
		
	By:	 	 /s/ YANG XIAOHUI

		 	YANG XIAOHUI 

	
	Contact Address:
		 	No. 125 Longhutang East Street
		 	Xinbei District, Changzhou
		 	Jiangsu, P.R. China
		
	By:	 	 /s/ WANG JINGBO

		 	WANG JINGBO
	
	Contact Address:
		 	APT BLK 286C
		 	TOH GUAN Road #13-24
		 	Singapore

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	Investors:
	
	VIVO VENTURES FUND VI, L.P.
		
	By:	 	 /s/ Frank Kung

		 	Name: Frank Kung
		 	Capacity: Managing Member,
		 	Vivo Ventures VI, LLC
		 	General Partner of Vivo Ventures Fund VI, L.P.
	
	Contact Address:
		 	575 High Street, Suite 201
		 	Palo Alto, CA 94301
		 	(650) 688-0818 Phone
		 	(650) 688-0815 Fax
	
	VIVO VENTURES VI AFFILIATES FUND, L.P.
		
	By:	 	 /s/ Frank Kung

		 	Name: Frank Kung
		 	Capacity: Managing Member,
		 	Vivo Ventures VI, LLC
		 	General Partner of Vivo Ventures VI Affiliates Fund, L.P.
	
	Contact Address:
		 	575 High Street, Suite 201
		 	Palo Alto, CA 94301
		 	(650) 688-0818 Phone
		 	(650) 688-0815 Fax

 SCHEDULE A 

GUARANTORS 
  

					
	 Name
	  	 Nationality
	  	 ID/Passport Number

			
	 Jiang Yikang 

	  	Chinese	  	320404195308020011
			
	 Zhao Gang 

	  	Chinese	  	320402590225041
			
	 Jiang Huiying 

	  	Chinese	  	320404195702170026
			
	 Jiang Zhenyu 

	  	Chinese	  	320404198202253435
			
	 Du Jun 

	  	Chinese	  	320521195711222352
			
	 Du Tingting 

	  	Chinese	  	320582198312162328
			
	 Yang Xiaohui 

	  	Chinese	  	320421193811046208
			
	 Wang Jingbo
	  	Singaporean	  	S7284180H

 SCHEDULE B 

DISCLOSURE SCHEDULES 

 SCHEDULE C CAPITALIZATION TABLE 

Part A 

Immediately Prior to Closing: 
  

						
	 Shareholders
	  	Shares	  	Percentage	 
	 Common Shares:
	  		  		
	 Jiang Yikang 

	  	600,000	  	5.2605	% 
	 Shen Jiankai 

	  	200,000	  	1.7535	% 
	 Zhao Gang 

	  	542,074	  	4.7526	% 
	 Shi Wenmei 

	  	520,000	  	4.5591	% 
	 Jiang Huiying 

	  	333,396	  	2.9230	% 
	 Jiang Zhenyu 

	  	400,000	  	3.5070	% 
	 Du Jun 

	  	200,000	  	1.7535	% 
	 Du Tingting 

	  	200,000	  	1.7535	% 
	 Yang Xiaohui 

	  	533,591	  	4.6782	% 
	 Wang Jingbo
	  	60,000	  	0.5260	% 
	 ESOP
	  	1,710,868	  	15	% 
	 IDG Accel Fund:
	  	923,743	  	8.0989	% 
	 IDG-Accel China Growth Fund L.P.
	  	711,929	  	6.2418	% 
	 IDG-Accel China Growth Fund-A L.P.
	  	145,490	  	1.2756	% 
	 IDG-Accel China Investors L.P.
	  	66,324	  	0.5815	% 
	 TDF Capital:
	  	554,246	  	4.8593	% 
	 TDF Capital China II, LP
	  	532,409	  	4.6679	% 
	 TDF Capital Advisors, LP
	  	21,837	  	0.1915	% 
	 SIG China Investments One, Ltd.
	  	476,934	  	4.1815	% 
	 CDH Venture Capital Limited
	  	227,456	  	1.9942	% 
	 Series A Shares:
	  		  		
	 IDG Accel Fund:
	  	823,322	  	7.2185	% 
	 IDG-Accel China Growth Fund L.P.
	  	634,534	  	5.5633	% 
	 IDG-Accel China Growth Fund-A L.P.
	  	129,673	  	1.1369	% 
	 IDG-Accel China Investors L.P.
	  	59,115	  	0.5183	% 
	 TDF Capital:
	  	493,994	  	4.3311	% 
	 TDF Capital China II, LP
	  	474,530	  	4.1604	% 
	 TDF Capital Advisors, LP
	  	19,464	  	0.1707	% 
	 Series B Shares:
	  		  		
	 SIG China Investments One, Ltd.
	  	1,340,311	  	11.7512	% 
	 IDG Accel Fund:
	  	376,523	  	3.3012	% 
	 IDG-Accel China Growth Fund L.P.
	  	290,186	  	2.5442	% 
	 IDG-Accel China Growth Fund-A L.P.
	  	59,303	  	0.5199	% 
	 IDG-Accel China Investors L.P.
	  	27,034	  	0.2370	% 

						
	 TDF Capital:
	  	225,914	  	1.9807	% 
	 TDF Capital China II, LP
	  	217,013	  	1.9027	% 
	 TDF Capital Advisors, LP
	  	8,901	  	0.0780	% 
	 CDH Venture Capital Limited
	  	663,413	  	5.8165	% 
	 Total:
	  	11,405,785	  	100.0000	% 

 Part B 

Immediately Following Closing: 
  

								
	 Shareholders
	  	Shares	  	Amount	  	Series B-1
Closing	 
	 Common Shares:
	  		  		  		
	 Jiang Yikang 

	  	600,000	  		  	5.1633	% 
	 Shen Jiankai 

	  	200,000	  		  	1.7211	% 
	 Zhao Gang 

	  	542,074	  		  	4.6648	% 
	 Shi Wenmei 

	  	520,000	  		  	4.4749	% 
	 Jiang Huiying 

	  	333,396	  		  	2.8690	% 
	 Jiang Zhenyu 

	  	400,000	  		  	3.4422	% 
	 Du Jun 

	  	200,000	  		  	1.7211	% 
	 Du Tingting 

	  	200,000	  		  	1.7211	% 
	 Yang Xiaohui 

	  	533,591	  		  	4.5918	% 
	 Wang Jingbo
	  	60,000	  		  	0.5163	% 
	 ESOP
	  	1,743,072	  		  	15.0000	% 
	 IDG Accel Fund:
	  	923,743	  		  	7.9493	% 
	 IDG-Accel China Growth Fund L.P.
	  	711,929	  		  	6.1265	% 
	 IDG-Accel China Growth Fund-A L.P.
	  	145,490	  		  	1.2520	% 
	 IDG-Accel China Investors L.P.
	  	66,324	  		  	0.5708	% 
	 TDF Capital:
	  	554,246	  		  	4.7696	% 
	 TDF Capital China II, LP
	  	532,409	  		  	4.5817	% 
	 TDF Capital Advisors, LP
	  	21,837	  		  	0.1879	% 
	 SIG China Investments One, Ltd.
	  	476,934	  		  	4.1043	% 
	 CDH Venture Capital Limited
	  	227,456	  		  	1.9574	% 
	 Series A Shares:
	  		  		  		
	 IDG Accel Fund:
	  	823,322	  		  	7.0851	% 
	 IDG-Accel China Growth Fund L.P.
	  	634,534	  		  	5.4605	% 
	 IDG-Accel China Growth Fund-A L.P.
	  	129,673	  		  	1.1159	% 
	 IDG-Accel China Investors L.P.
	  	59,115	  		  	0.5087	% 
	 TDF Capital:
	  	493,994	  		  	4.2511	% 
	 TDF Capital China II, LP
	  	474,530	  		  	4.0836	% 
	 TDF Capital Advisors, LP
	  	19,464	  		  	0.1675	% 
	 Series B Shares:
	  		  		  		
	 SIG China Investments One, Ltd.
	  	1,340,311	  		  	11.5340	% 
	 IDG Accel Fund:
	  	376,523	  		  	3.2402	% 
	 IDG-Accel China Growth Fund L.P.
	  	290,186	  		  	2.4972	% 
	 IDG-Accel China Growth Fund-A L.P.
	  	59,303	  		  	0.5103	% 
	 IDG-Accel China Investors L.P.
	  	27,034	  		  	0.2326	% 

								
	 TDF Capital:
	  	225,914	  		  	1.9441	% 
	 TDF Capital China II, LP
	  	217,013	  		  	1.8675	% 
	 TDF Capital Advisors, LP
	  	8,901	  		  	0.0766	% 
	 CDH Venture Capital Limited
	  	663,413	  		  	5.7090	% 
	 Series B-1 Shares:
	  		  		  		
	 VIVO Ventures
	  	182,493	  	2,000,000	  	1.5704	% 
	 VIVO Ventures Fund Vi, L.P.
	  	181,167	  	1,985,455	  	1.5590	% 
	 Vivo Ventures VI Affiliates Fund, L.P.
	  	1,326	  	14,545	  	0.0114	% 
	 Total:
	  	11,620,482	  	2,000,000	  	100.0000	% 

 SCHEDULE D 

ESOP 

(See Exhibit 10.1) 

 EXHIBIT A 

RESTATED MOMORANDUM AND ARTICLES 

(See Exhibit 3.1) 

 EXHIBIT B 

RESTATED INVESTORS’ RIGHTS AGREEMENT 

(See Exhibit 4.7) 

 EXHIBIT C 

SERIES B PREFERRED SHARE RESTRICTION AGREEMENT 

(See Exhibit 4.9) 

 EXHIBIT D 

SERIES B PREFERRED RIGHT OF FIRST REFUSAL 

AND CO-SALE AGREEMENT 

(See Exhibit 4.8) 

 EXHIBIT E 

MANAGEMENT RIGHTS LETTER 

                    , 2009

 VIVO Ventures Fund VI L,P. 

VIVO Ventures VI Affiliates Fund, L.P. 
 575
High Street, Suite 201, Palo Alto, CA 94301 
  

	Re:	Management Rights 

 Gentlemen:

 This letter will confirm our agreement that pursuant to and effective as of your purchase of Series B-I Shares of China
Kanghui Holdings (the “Company”) pursuant to the Share Purchase Agreement dated as of April 21, 2009 among the parties thereof (the “Share Purchase Agreement”), VIVO Ventures Fund VI, L.P. and Vivo Ventures VI
Affiliates Fund, L.P. (collectively, the “Investors”) shall be entitled to the following contractual management rights, in addition to any rights to non-public financial information, inspection rights and other rights specifically
provided to the Investors in the Transaction Documents (as defined in the Share Purchase Agreement: 
 The Investors shall be
entitled to consult with and advise management of the Company on significant business issues, including management’s proposed annual operating plans, and management will meet with the Investors regularly during each year at the Company’s
facilities at mutually agreeable times for such consultation and advice and to review progress in achieving said plans. 
 The
Investors may examine the books and records of the Company and inspect its facilities and may request information at reasonable times and intervals concerning the general status of the Company’s financial condition and operations, provided that
access to highly confidential proprietary information and facilities need not be provided. 
 If the investors are not
represented on the Company’s Board of Directors, the Company shall (1) invite the observer appointed by the Investors according to the Restated Memorandum and Articles (as defined in the Share Purchase Agreement) and to attend all meetings
of its Board of Directors (and all committees thereof) in a nonvoting observer capacity, and (ii) give a representative of the Investors copies of al notices, minutes, consents and other material that the Company provides to its directors,
except that the representative may be excluded from access to any material or meeting or portion thereof if the Company believes, upon advice of counsel, that such exclusion is reasonably necessary to preserve the attorney- client privilege, to
protect highly confidential proprietary information or for other similar reasons. Upon reasonable notice and at a scheduled meeting of the Board or such other time, if any, as the Board may determine in its sole discretion, such representative may
address the Board of Directors with respect to the Investors’ concerns regarding significant business issues facing the Company. 
  

 1 

 The aforementioned rights are intended to satisfy the requirement of management rights for
purposes of qualifying the Investors’ ownership of stock in the Company as a “venture capita] investment” for purposes of the Department of Labor “plan asset” regulations, 29 C.F.R. §2510.3-101, and in the event the
aforementioned rights are not satisfactory for such purpose, the Company and the Investor shall reasonably cooperate in good faith to agree upon mutually satisfactory management rights that satisfy such regulations. 

The rights described herein shall terminate and be of no further force or effect upon (a) the consummation of the sale of the
Company’s securities in connection with a firm- commitment underwritten initial public offering of the Common Shares of the Company on the New York Stock Exchange, the Nasdaq Stock Market’s National Market System, the Main Board of the
Hong Kong Stock Exchange or any other exchange of the recognized international reputation and standing duly approved by the Company’s Board of Directors; or (b) the consummation of a merger or consolidation of the Company that is effected
(1) for independent business reasons unrelated to extinguishing such rights and (ii) for purposes other than (A) the reincorporation of the Company in a different jurisdiction or (B) the formation of a holding company that will
be owned exclusively by the Company’s stockholders and will hold all of the outstanding shares of capital stock of the Company’s successor. 

 

			
	Very truly yours,
	
	CHINA KANGHUI HOLDINGS
		
	By:	 	 /s/ JIANG YIKANG

	Title:	 	Director

  

			
	AGREED AND ACCEPTED:
	
	VIVO VENTURES FUND VI, L.P.
		
	By:	 	  

	Title:	 	Authorized Signatory
	
	Vivo VENTURES VI AFFILIATES FUND, L.P.
		
	By:	 	  

	Title:	 	Authorized Signatory

  

 2 

 The aforementioned rights are intended to satisfy the requirement of management rights for
purposes of qualifying the Investors’ ownership of stock in the Company as a “venture capita] investment” for purposes of the Department of Labor “plan asset” regulations, 29 C.F.R. §2510.3-101, and in the event the
aforementioned rights are not satisfactory for such purpose, the Company and the Investor shall reasonably cooperate in good faith to agree upon mutually satisfactory management rights that satisfy such regulations. 

The rights described herein shall terminate and be of no further force or effect upon (a) the consummation of the sale of the
Company’s securities in connection with a firm- commitment underwritten initial public offering of the Common Shares of the Company on the New York Stock Exchange, the Nasdaq Stock Market’s National Market System, the Main Board of the
Hong Kong Stock Exchange or any other exchange of the recognized international reputation and standing duly approved by the Company’s Board of Directors; or (b) the consummation of a merger or consolidation of the Company that is effected
(1) for independent business reasons unrelated to extinguishing such rights and (ii) for purposes other than (A) the reincorporation of the Company in a different jurisdiction or (B) the formation of a holding company that will
be owned exclusively by the Company’s stockholders and will hold all of the outstanding shares of capital stock of the Company’s successor. 

 

			
	Very truly yours,
	
	CHINA KANGHUI HOLDINGS
		
	By:	 	  

	Title:	 	Director

  

			
	AGREED AND ACCEPTED:
	
	VIVO VENTURES FUND VI, L.P.
		
	By:	 	
 

	Title:	 	Authorized Signatory
	
	Vivo VENTURES VI AFFILIATES FUND, L.P.
		
	By:	 	
 

	Title:	 	Authorized Signatory

  

 2Amended and Restated Investors' Rights Agreement

 Exhibit 4.7 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

by and among 

CHINA KANGHUI HOLDINGS 

EXISTING SHAREHOLDERS 

and 

SERIES B-1 INVESTORS 

dated as of April 21, 2009 

 TABLE OF CONTENTS 

 

					
	 	  	 	  	Page No.
			
	1.	  	INTERPRETATION	  	1
			
	2.	  	DEMAND REGISTRATION	  	5
			
	3.	  	PIGGYBACK REGISTRATIONS	  	7
			
	4.	  	PROCEDURES	  	8
			
	5.	  	INDEMNIFICATION	  	10
			
	6.	  	ADDITIONAL UNDERTAKINGS	  	12
			
	7.	  	BOARD OF DIRECTORS AND ESOP	  	14
			
	8.	  	INFORMATION AND INSPECTION RIGHTS	  	16
			
	9.	  	MISCELLANEOUS	  	19

 SCHEDULE A EXISTING SHAREHOLDERS

 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”) is made as of April 21, 2009, by and
among China Kanghui Holdings, an exempt company organized and existing under the Laws of the Cayman Islands (the “Company”); each of the parties set forth in Schedule A (each an “Existing Shareholder”, and
collectively the “Existing Shareholders”); and VIVO Ventures Fund VI, L.P. and Vivo Ventures VI Affiliates Fund, L.P. (collectively, the “Series B-1 Investors”). 

RECITALS 

WHEREAS, the Company, certain Existing Shareholders and the Series B-1 Investors are parties to that certain Share Purchase Agreement
dated April 21, 2009 (the “Series B-1 Share Purchase Agreement”); 
 WHEREAS, the Existing Shareholders
and the Company are parties to that certain Amended and Restated Investors’ Rights Agreement, dated as of January 3, 2008 (the “Prior Agreement”), which provides the Existing Shareholders with certain rights; 

WHEREAS, the Company and the Existing Shareholders wish to provide further inducement to the Series B-1 Investors to purchase the Series
B-1 Shares (as defined below) by amending and restating the Prior Agreement to include the Series B-1 Investors and to amend and restate the rights and obligations set forth therein, in each case as set forth herein; 

WHEREAS, it is a condition precedent under the Series B-1 Share Purchase Agreement that this Agreement shall be entered into and the
parties hereto desire to enter into this Agreement on the terms and conditions set forth herein. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises set forth herein and for other good and valuable
consideration, the sufficiency and adequacy of which is hereby acknowledged, the parties hereto hereby agree as follows: 

1. Interpretation 

1.1 Definitions. For purposes of this Agreement, the following terms shall have the following meanings: 

“Affiliate” means, with respect to a Person, any other Person that, directly or indirectly, controls, is
controlled by or is under common control with such Person. For purposes of this Agreement, “control” means, when used with respect to any Person, power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise, and the terms “affiliated,” “controlling” and “controlled” have meanings correlative to
the foregoing. 
 “Applicable Securities Law” means (i) with respect to any offering of securities
in the U.S., or any other act or omission within that jurisdiction, the securities Law of the U.S., including the Exchange Act and the Securities Act, and any applicable Law of any State of the U.S., and (ii) with respect to any offering of
securities in any jurisdiction other than the U.S., or any related act or omission in that jurisdiction, the applicable Laws of that jurisdiction. 
  

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 “Board” means the board of directors of the Company. 

“Commission” means (i) with respect to any offering of securities in the U.S., the Securities and Exchange
Commission or any other federal agency at the time administering the Securities Act, and (ii) with respect to any offering of securities in a jurisdiction other than the U.S., the regulatory body of the jurisdiction with authority to supervise
and regulate the sale of securities in that jurisdiction. 
 “Common Shares” means the Company’s
common shares, par value US$0.01 per share. 
 “Common Shares Equivalents” means warrants, options and
rights exercisable for Common Shares and securities convertible or exchangeable for Common Shares. 
 “Company
Group” means the Company, the Domestic Entities and their respective Subsidiaries from time to time. 

“Director” means a director of the Company. 

“Domestic Entities” means Changzhou Kanghui Medical Innovation Co., Ltd., a wholly foreign owned enterprise
organized and existing under the Laws of the PRC, and Beijing Libeier Biology Engineering Research Institute Co., Ltd., a wholly foreign owned enterprise organized and existing under the Laws of the PRC, collectively, and each, a
“Domestic Entity”. 
 “Equity Securities” means any Common Shares or Common
Shares Equivalents or other securities of the Company. 
 “Exchange Act” means the U.S. Securities
Exchange Act of 1934, as amended. 
 “Form F-3” means Form F-3 promulgated by the SEC under the
Securities Act or any successor form or substantially similar form then in effect. 
 “Form S-3” means
Form S-3 promulgated by the SEC under the Securities Act or any successor form or substantially similar form then in effect. 

“Governmental or Regulatory Authority” means any nation or government or any province or state or any
other political subdivision thereof, or any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any government authority, agency, department, board,
commission or instrumentality or any political subdivision thereof, any court, tribunal or arbitrator, and any self-regulatory organization. 

“Holders” means the holders of Registrable Securities and their permitted transferees. 

“IDG Entities” means IDG-Accel China Growth Fund L.P., IDG-Accel China Growth Fund-A L.P., and IDG-Accel China
Investors L.P., collectively. 
  

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 “Initiating Holders” means, with respect to a request duly made
under Section 2.1 or Section 2.2 to Register any Registrable Securities, the Holders initiating such request. 

“IPO” means the first firm-commitment underwritten initial public offering of the Common Shares of the Company
pursuant to a Registration Statement that is filed with and declared effective by either the SEC under the Securities Act or another Governmental or Regulatory Authority for a Registration in a jurisdiction other than the U.S. 

“Law” means any constitutional provision, statute or other law, rule, regulation, official policy or
interpretation of any Governmental or Regulatory Authority. 
 “Person” means any natural person,
limited liability company, joint stock company, joint venture, partnership, enterprise, trust, unincorporated organization or any other entity or organization. 

“Preferred Shares” means the Series A Shares and the Series B Preferred Shares. 

“Preferred Shareholders” means the Series A Shareholders and the Series B Preferred Shareholders. 

“Qualified IPO” means an IPO that values the Company at no less than US$350 million immediately prior to the IPO
and that results in aggregate proceeds to the Company of US$70 million, net of Selling Expenses. 

“Registration” means a registration effected by preparing and filing a Registration Statement and the declaration
or ordering of the effectiveness of that Registration Statement; and the terms “Register” and “Registered” have meanings correlative to the foregoing. 

“Registrable Securities” means (i) the Common Shares acquired or to be acquired by the Preferred
Shareholders, (ii) the Common Shares issuable or issued upon conversion of the Preferred Shares, and (iii) any Common Shares of the Company issued as (or issuable upon the conversion, exchange or exercise of any Common Share Equivalent
issued as) a dividend or other distribution with respect to, or in exchange for, or in replacement of, the shares referenced in (ii), excluding in all cases, however, any Registrable Securities sold by a Person in a transaction other than an
assignment pursuant to Section 9.3. 
 “Registration Statement” means a registration statement
prepared on Form F-1, F-2, F-3, S-1, S-2 or S-3 under the Securities Act, or on any comparable form in connection with registration in a jurisdiction other than the U.S. 

“SEC” means the Securities and Exchange Commission of the U.S. 

“Securities Act” means the U.S. Securities Act of 1933, as amended. 

“Selling Expenses” means, with respect to the issue or sale of any securities, any expenses payable directly or
indirectly by the Company and any underwriting, brokerage or similar commissions, compensation, discounts or concessions paid or allowed by the Company in connection with such issue or sale. 

 

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 “Series A Shares” means the Company’s voting Series A
convertible redeemable participating preferred shares, par value US$0.01 per share. 
 “Series A
Shareholders” means the holders of Series A Shares. 
 “Series B Preferred Shares” means
Series B Shares and Series B-1 Shares. 
 “Series B Preferred Shareholders” means the holders of Series
B Preferred Shares. 
 “Series B Shares” means the Company’s voting Series B convertible redeemable
participating preferred shares, par value US$0.01 per share. 
 “Series B-1 Shares” means the
Company’s voting Series B-1 convertible redeemable participating preferred shares, par value US$0.01 per share. 

“SIG” means SIG China Investments One, Ltd. 

“Subsidiary” means, with respect to any Person, any other Person directly or indirectly controlled by such
Person. 
 “TDF Entities” means TDF Capital China II, LP, and TDF Capital Advisors, LP, collectively.

 “U.S.” means the United States of America. 

“U.S. GAAP” means generally accepted accounting principles in the U.S. applied on a consistent basis. 

1.2 Jurisdiction. The terms of this Agreement are drafted primarily in contemplation of securities offerings in the U.S. The
parties recognize, however, the possibility that securities may be qualified or registered in a jurisdiction other than the U.S. for offering to the public or that the Company might effect an offering in the U.S. in the form of American Depositary
Receipts (“ADRs”) or American Depositary Shares (“ADSs”). Accordingly: 
 (A) It is
their intention that, whenever this Agreement refers to a Law, form, process or institution of the U.S. but the parties wish to effectuate qualification or registration in a different jurisdiction, reference in this Agreement to the Laws or
institutions of the U.S. shall be read as referring, mutatis mutandis, to the comparable Laws or institutions of the jurisdiction in question; and 

(B) It is agreed that the Company will not undertake any listing of ADRs, ADSs or any other security derivative of the
Company’s Common Shares unless arrangements have been made reasonably satisfactory to a majority in interest of the Holders of then outstanding Registrable Securities to ensure that the spirit and intent of this Agreement will be realized and
that the Company is committed to take such actions as are necessary such that the Holders will enjoy rights corresponding to the rights hereunder to sell their Registrable Securities in a public offering in the U.S. as if the Company had listed
Common Shares in lieu of such derivative securities. 
  

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 2. Demand Registration 

2.1 Registration Other Than on Form F-3 or Form S-3. Subject to the terms of this Agreement, at any time or from time to time after
the date six (6) months following an IPO, Holders holding twenty-five percent (25%) or more in voting power of the Registrable Securities then held by the Preferred Shareholders may request the Company in writing to effect the Registration
of Registrable Securities and/or ADSs. Upon receipt of such a request, the Company shall (a) promptly give written notice of the proposed Registration to all other Holders and (b) as soon as practicable, cause the Registrable Securities
and/or ADSs specified in the request, together with any Registrable Securities and/or ADSs of any Holder who requests in writing to join such Registration within fifteen (15) days after the Company’s delivery of written notice, to be
Registered and/or qualified for sale and distribution in such jurisdictions as the Initiating Holders may reasonably request. The Company shall not be obligated to take any action to effect any Registration pursuant to this Section 2.1 after
the Company has effected three (3) Registrations pursuant to this Section 2.1 (with ADSs and their underlying Common Shares constituting a single registration); provided that if the sale of all of the Registrable Securities sought
to be included pursuant to this Section 2.1 is not consummated for any reason other than due to the action or inaction of the Holders including Registrable Securities in such Registration, such Registration shall not be deemed to constitute one
of the Registration rights granted pursuant to this Section 2.1. 
 2.2 Registration on Form F-3 or Form S-3.
Subject to the terms of this Agreement, at any time after an IPO, Holders may request in writing that the Company file a Registration Statement on Form F-3 or Form S-3 (or any successor form to Form F-3 or Form S-3, or any comparable form for
Registration in a jurisdiction other than the U.S.), so long as the Company is entitled to use such form, for a public offering of all or part of the Registrable Securities. Upon receipt of such a request the Company shall (i) promptly give
written notice of the proposed Registration to all other Holders and (ii) as soon as practicable, and in any event within sixty (60) days of the receipt of such request, cause the Registrable Securities specified in the request, together
with any Registrable Securities of any Holder who requests in writing to join such Registration within fifteen (15) days after the Company’s delivery of written notice, to be Registered and qualified for sale and distribution in such
jurisdictions as the Initiating Holders may reasonably request. The Holders may at any time, and from time to time, require the Company to effect the Registration of Registrable Securities under this Section 2.2. However, the Company shall not
be required to effect more than two Registrations pursuant to this Section 2.2 in any 12 month period; provided that if the sale of all of the Registrable Securities sought to be included pursuant to this Section 2.2 is not
consummated for any reason other than due to the action or inaction of the Holders including Registrable Securities in such Registration, such Registration shall not be deemed to constitute a Registration for purposes of this sentence. 

2.3 Right of Deferral 

(A) The Company shall not be obligated to Register or qualify Registrable Securities pursuant to this Section 2: 

(1) in any jurisdiction in which the Company would be required to execute a general consent to service of process in effecting such
Registration or qualification, unless the Company is already subject to service of process in such jurisdiction; 
  

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 (2) if, within ten days of the receipt of any request of the Holders to Register any
Registrable Securities under Section 2.1 or Section 2.2, the Company gives notice to the Initiating Holders of its bona fide intention to effect the filing for its own account of a Registration Statement within sixty (60) days of
receipt of that request (other than a registration of securities in a transaction under Rule 145 of the Securities Act or an offering solely to employees), provided that the Company is actively employing in good faith all reasonable efforts to cause
that Registration Statement to become effective; or 
 (3) within six (6) months immediately following the effective date
of any Registration Statement pertaining to the securities of the Company (other than a registration of securities in a transaction (a) under Rule 145 of the Securities Act (or comparable provision under the Laws of another jurisdiction, as
applicable) or (b) with respect to a Company benefit plan or under Form S-8 or Form F-8 or similar or successor registration statement). 

(B) If, after receiving a request from Holders pursuant to Section 2.1 or Section 2.2, the Company furnishes to the
Holders a certificate signed by the Chief Executive Officer of the Company stating that, in the good faith judgment of the Board of the Company, it would be materially detrimental to the Company or its shareholders for a Registration Statement to be
filed in the near future, the Company’s obligation to use its commercially reasonable efforts to file a Registration Statement shall be deferred for a period not to exceed ninety (90) days from the receipt of any request duly submitted by
Holders under Section 2.1 or Section 2.2 to Register Registrable Securities; provided that the Company shall not exercise the right contained in this Section 2.3(B) more than once in any twelve (12) month period. 

2.4 Underwritten Offerings. If, in connection with a request to Register Registrable Securities and/or ADSs (and underlying Common
Shares) under Section 2.1 or Section 2.2, the Initiating Holders seek to distribute such Registrable Securities and/or ADSs in an underwriting, they shall so advise the Company as a part of the request, and the Company shall include such
information in the written notice to the other Holders described in Sections 2.1 and 2.2. In such event, the right of any Holder to include its Registrable Securities and/or ADSs in such Registration shall be conditioned upon such Holder’s
participation in such underwriting and the inclusion of such Holder’s Registrable Securities and/or ADSs in the underwriting (unless otherwise mutually agreed by Initiating Holders representing a majority in voting power of the Registrable
Securities held by the Initiating Holders) to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or
underwriters selected for such underwriting by the Company (which underwriter or underwriters shall be reasonably acceptable to Initiating Holders representing a majority in voting power of the Registrable Securities held by the Initiating Holders).
Notwithstanding any other provision of this Agreement, if the managing underwriter advises the Company that marketing factors (including the aggregate number of securities requested to be Registered and the general condition of the market) require a
limitation of the number of Equity Securities to be underwritten, the underwriters may exclude from the underwriting up to seventy percent (70%) of the Registrable Securities and/or ADSs requested to be Registered if so justified but only after
excluding all other Equity Securities from the underwriting. If a limitation of the number of Registrable Securities and/or ADSs is required pursuant to this Section 2.4, the number of Registrable Securities and/or ADSs that may be included in
the underwriting by selling Holders shall be allocated among such Holders, in proportion, as nearly as practicable, to the respective amounts of Registrable Securities and/or ADSs which the Holders would otherwise be entitled to include in the
Registration. Any Registrable Securities and/or ADSs excluded or withdrawn from such underwriting shall be withdrawn from the Registration. 
  

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 3. Piggyback Registrations 

3.1 Registration of the Company’s Securities. Subject to Section 3.3, if the Company proposes to Register for its own
account any of its Equity Securities in connection with the public offering of such securities, the Company shall promptly give each Holder written notice of such Registration and, upon the written request of any Holder given within twenty
(20) days after delivery of such notice, the Company shall use its reasonable best efforts to include in such Registration all Registrable Securities and/or ADSs thereby requested by such Holder.  

3.2 Right to Terminate Registration. The Company shall have the right to terminate or withdraw any Registration initiated by it
under Section 3.1 prior to the effectiveness of such Registration, whether or not any Holder has elected to participate therein. The expenses of such withdrawn Registration shall be borne by the Company in accordance with Section 4.3. 

 3.3 Underwriting Requirements 

(A) In connection with any offering involving an underwriting of the Company’s Equity Securities or ADSs (and underlying
Common Shares), the Company shall not be required to Register the Registrable Securities and/or ADSs of a Holder under this Section 3 unless such Holder’s Registrable Securities and/or ADSs are included in the underwriting and such Holder
enters into an underwriting agreement in customary form with the underwriters selected by the Company and setting forth such terms for the underwriting as have been agreed upon between the Company and the underwriters. In the event the underwriters
advise Holders seeking Registration of Registrable Securities and/or ADSs pursuant to this Section 3 in writing that market factors (including the aggregate number of Registrable Securities requested to be Registered and the general condition
of the market) require a limitation of the number of Equity Securities to be underwritten, the underwriters may exclude from the Registration up to seventy percent (70%) of the Registrable Securities and/or ADSs requested to be Registered and
underwriting if so justified but only after excluding all other Equity Securities (except for securities to be offered by the Company) from the Registration and underwriting. 

(B) If a limitation of the number of Registrable Securities is required pursuant to paragraph (A), the number of Registrable
Securities that may be included in the Registration and underwriting by selling Holders shall be allocated among such Holders in proportion, as nearly as practicable, to the respective amounts of Registrable Securities which the Holders would
otherwise be entitled to include in the Registration. 
 (C) If any Holder disapproves of the terms of any underwriting,
the Holder may elect to withdraw therefrom by written notice to the Company and the underwriters delivered at least seven (7) days prior to the effective date of the Registration Statement. Any Registrable Securities excluded or withdrawn from
the underwriting shall be withdrawn from the Registration. 
  

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 3.4 Exempt Transactions. The Company shall have no obligation to
Register any Registrable Securities under this Section 3 in connection with a Registration by the Company (i) relating solely to the sale of securities to participants in a Company stock plan, (ii) relating to a corporate
reorganization, (iii) relating to transactions under Rule 145 of the Securities Act (or comparable provision under the Laws of another jurisdiction, as applicable) or with respect to a Company benefit plan or under Form S-8 or Form F-8 or
similar or successor registration statement, or (iv) on any form that does not include substantially the same information as would be required to be included in a Registration Statement covering the sale of the Registrable Securities.  

 4. Procedures 

4.1 Registration Procedures and Obligations. Whenever required under this Agreement to effect the Registration of any Registrable
Securities held by the Holders, the Company shall, as expeditiously as possible:  
 (A) Prepare and file with the
SEC a Registration Statement with respect to those Registrable Securities and use its reasonable best efforts to cause that Registration Statement to become effective, and, upon the request of the Holders holding a majority of the Registrable
Securities Registered thereunder, keep the Registration Statement effective for up to one hundred and twenty (120) days or, if earlier, until the distribution thereunder has been completed; provided that (i) such period shall be extended
for a period of time equal to the period any Holder refrains from selling any Registrable Securities in such Registration at the written request of the underwriters(s) for such Registration and (ii) in the case of any Registration of
Registrable Securities on Form S-3, Form F-3 or a comparable form in a jurisdiction other than the U.S. that are intended to be offered on a continuous or delayed basis, such 120 day period shall be extended, if necessary, to keep the Registration
Statement or such comparable form, as the case may be, effective until all such Registrable Securities are sold; 
 (B)
Prepare and file with the SEC amendments and supplements to that Registration Statement and the prospectus used in connection with the Registration Statement as may be necessary to comply with the provisions of Applicable Securities Law with
respect to the disposition of all securities covered by the Registration Statement; 
 (C) Furnish to the Holders the
number of copies of a prospectus, including a preliminary prospectus, required by Applicable Securities Law, and any other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them;

 (D) Use its reasonable best efforts to Register and qualify the securities covered by the Registration Statement under
the securities Laws of any jurisdiction, as reasonably requested by the Holders, provided that the Company shall not be required to qualify to do business or file a general consent to service of process in any such jurisdictions, and
provided further that in the event any jurisdiction in which the securities shall be qualified imposes a non-waivable requirement that expenses incurred in connection with the qualification of the securities be borne by selling shareholders,
those expenses shall be payable pro rata by selling shareholders; 
  

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 (E) In the event of any underwritten public offering, enter into and perform its
obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of the offering; 

(F) Notify each Holder of Registrable Securities covered by the Registration Statement at any time when a prospectus relating
thereto is required to be delivered under Applicable Securities Law or of the happening of any event as a result of which any prospectus included in the Registration Statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; 

(G) Provide a transfer agent and registrar for all Registrable Securities Registered pursuant to the Registration Statement and,
where applicable, a CUSIP number for all those Registrable Securities, in each case not later than the effective date of the Registration; 

(H) Furnish, at the request of any Holder requesting Registration of Registrable Securities pursuant to this Agreement, on the
date that such Registrable Securities are delivered for sale in connection with a Registration pursuant to this Agreement, (i) an opinion, dated the date of the sale, of the counsel representing the Company for the purposes of the Registration,
in form and substance as is customarily given to underwriters in an underwritten public offering; and (ii) a comfort letter dated the date of the sale, from the independent certified public accountants of the Company, in form and substance as
is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters; and 

(I) Take all reasonable action necessary to list the Registrable Securities on the primary exchange upon which the Company’s
securities are then traded or in connection with any IPO, the primary exchange upon which the Company’s securities will be traded. 

4.2 Information From Holder. It shall be a condition precedent to the obligations of the Company to take any action
pursuant to this Agreement with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of
disposition of such securities as shall be required to effect the Registration of such Holder’s Registrable Securities. 

4.3 Expenses of Registration. All expenses, other than Selling Expenses with respect to Registrable Securities of the Holders
included within the Registration (which shall be borne by the respective holders thereof), incurred in connection with Registrations, filings or qualifications pursuant to this Agreement, including (without limitation) all Registration, filing and
qualification fees, printers’ and accounting fees, fees and disbursements of counsel for the Company, fees charged by depositary agent, share registrar and transfer agent, and reasonable fees and disbursements for the Holders that have included
Registrable Securities in the Registration, shall be borne by the Company. 
  

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 4.4 Delay of Registration. No Holder shall have any right to obtain or seek an
injunction restraining or otherwise delaying any Registration as the result of any controversy that may arise with respect to the interpretation or implementation of this Agreement. 

5. Indemnification 

5.1 Company Indemnity 

(A) To the maximum extent permitted by Law, the Company will indemnify and hold harmless each Holder, such Holder’s officers,
directors, shareholders, legal counsel and accountants, any underwriter (as defined in the Securities Act) for such Holder and each Person, if any, who controls (as defined in the Securities Act) such Holder or underwriter against any losses,
claims, damages or liabilities (joint or several) to which they may become subject under Laws which are applicable to the Company and relate to action or inaction required of the Company in connection with any Registration, qualification, or
compliance, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (each a “Violation”): (i) any untrue
statement or alleged untrue statement of a material fact contained in such Registration Statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged
omission to state in the Registration Statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, a material fact required to be stated therein or necessary to make the statements
therein not misleading, or (iii) any violation or alleged violation by the Company of Applicable Securities Laws, or any rule or regulation promulgated under Applicable Securities Laws. The Company will reimburse each such Holder, underwriter
or controlling Person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action. 

(B) The indemnity agreement contained in this Section 5.1 shall not apply to amounts paid in settlement of any such loss,
claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld or delayed), nor shall the Company be liable in any such case for any such loss, claim, damage,
liability or action to the extent that it arises out of or is based upon a Violation that occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such Registration by any such Holder,
underwriter or controlling Person. 
 5.2 Holder Indemnity 

(A) To the maximum extent permitted by Law, each selling Holder will indemnify and hold harmless the Company, its directors,
officers, legal counsel and accountants, any underwriter, any other Holder selling securities in connection with such Registration and each Person, if any, who controls (within the meaning of the Securities Act) the Company, such underwriter or
other Holder, against any losses, claims, damages or liabilities (joint or several) to which any of the foregoing Persons may become subject, under Applicable Securities Laws, or any rule or regulation promulgated under Applicable Securities Laws,
insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity
with written information furnished by such Holder expressly for use in connection with such Registration; and each such Holder will reimburse any Person intended to be indemnified pursuant to this Section 5.2, for any legal or other expenses
reasonably incurred by such Person in connection with investigating or defending any such loss, claim, damage, liability or action. No Holder’s liability under this Section 5.2 shall exceed the net proceeds (less underwriting discounts and
selling commissions) received by such Holder from the offering of securities made in connection with that Registration; provided, however, such limitation shall not apply in the case of willful fraud by such Holder. 

 

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 (B) The indemnity contained in this Section 5.2 shall not apply to amounts paid
in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder (which consent shall not be unreasonably withheld or delayed). 

5.3 Notice of Indemnification Claim. Promptly after receipt by an indemnified party under Section 5.1 or Section 5.2 of
notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under Section 5.1 or Section 5.2, deliver to the
indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to
assume the defense thereof with counsel mutually satisfactory to the indemnifying parties. An indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one
separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests
between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if prejudicial to its
ability to defend such action, shall relieve such indemnifying party, to the extent so prejudiced, of any liability to the indemnified party under this Section 5, but the omission to deliver written notice to the indemnifying party will not
relieve it of any liability that it may have to any indemnified party otherwise than under this Section 5.  

5.4 Contribution. If any indemnification provided for in Section 5.1 or Section 5.2 is held by a court of competent
jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage or expense referred to herein, the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount
paid or payable by such indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party, on the one hand, and of the indemnified party, on
the other, in connection with the statements or omissions that resulted in such loss, liability, claim, damage or expense, as well as any other relevant equitable considerations; provided that no contribution by any Holder, when combined with any
amounts paid by such Holder pursuant to Section 5.2, shall exceed the net proceeds (less underwriting discounts and selling commissions) from the offering received by such Holder, except in the case of willful fraud by such Holder. The relative
fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information
supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. 

 

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 5.5 Underwriting Agreement. To the extent that the provisions on indemnification and
contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 

5.6 Survival. The obligations of the Company and Holders under this Section 5 shall survive the completion of any offering of
Registrable Securities in a Registration Statement under this Agreement, and otherwise. 
 6. Additional Undertakings 

 6.1 Reports under the Exchange Act. With a view to making available to the Holders the benefits of Rule 144 promulgated
under the Securities Act and any comparable provision of any Applicable Securities Law that may at any time permit an Holder to sell securities of the Company to the public without Registration or pursuant to a Registration on Form F-3 or Form S-3
as applicable (or any successor form, or any comparable form for Registration in a jurisdiction other than the U.S.), the Company agrees to:  

(A) make and keep public information available, as those terms are understood and defined in Rule 144 (or comparable provision
under Applicable Securities Laws in any jurisdiction where the Company’s securities are listed), at all times following ninety (90) days after the effective date of an IPO; 

(B) file with the SEC in a timely manner all reports and other documents required of the Company under all Applicable Securities
Laws; and 
 (C) at any time following ninety (90) days after the effective date of the IPO, promptly furnish to any
Holder holding Registrable Securities, upon request (i) a written statement by the Company that it has complied with the reporting requirements of all Applicable Securities Laws at any time after it has become subject to such reporting
requirements or, at any time after so qualified, that it qualifies as a registrant whose securities may be resold pursuant to Form F-3 or Form S-3 as applicable (or any successor form, or any form comparable thereto under Applicable Securities Laws
of any jurisdiction where the Company’s securities are listed), (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents as may be filed by the Company with the SEC, and (iii) such
other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC, that permits the selling of any such securities without Registration or pursuant to such form. 

6.2 Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without the
prior written consent of the Holders of a majority in voting power of the Registrable Securities, enter into any agreement with any holder or prospective holder of any Equity Securities of the Company that would allow such holder or prospective
holder (a) to include such securities in any Registration filed under Section 2 or 3, unless under the terms of such agreement such holder or prospective holder may include such Equity Securities in any such Registration only to the extent
that the inclusion of such securities will not reduce the amount of the Registrable Securities of the Holders that are included, or (b) to demand Registration of their securities. 

 

 12 

 6.3 “Market Stand-Off” Agreement. Each Holder agrees that it will not,
without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the Company’s IPO and ending on the date specified by the Company and the managing underwriter (such
period not to exceed l80 days) (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose
of, directly or indirectly, any shares of Equity Securities (whether then owned or thereafter acquired) or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of
ownership of the Equity Securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Equity Securities or such other securities, in cash or otherwise, but only if each officer, director,
and holder of more than one percent (1%) of the fully-diluted, as-converted share capital of the Company is similarly restricted. The underwriters in connection with the Company’s IPO are intended third party beneficiaries of this
Section 6.3 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to the
Registrable Securities of each Holder (and the shares or securities of every other Person subject to the foregoing restriction) until the end of such period. 

6.4 Termination of Registration Rights. The registration rights set forth in Section 2 and Section 3 of this Agreement
shall terminate on the date that is two (2) years from the date of closing of a Qualified IPO. 
 6.5 Exercise of
Preferred Shares. Notwithstanding anything to the contrary provided in this Agreement, the Company shall have no obligation to Register Registrable Securities which, if constituting Common Share Equivalents, have not been exercised, converted or
exchanged, as applicable, for Common Shares. 
 6.6 IPO Directed Shares. To the extent permitted by applicable Laws and
SEC policies, if the Company’s IPO is consummated after one year from the closing of the issue and subscription of the first Series B Shares, the Company shall use reasonable best efforts to cause the managing underwriter of the IPO to
designate five percent (5%) of the Company’s offered Equity Securities or ADSs (and underlying Common Shares) in the IPO which shall be allocated to the Series B Preferred Shareholders pro rata in accordance with their respective number of
Series B Shares or Series B-1 Shares, as the case may be. 
  

 13 

 7. Board of Directors and ESOP 

7.1 Board Representation. 

(A) The Company’s Amended and Restated Memorandum and Articles of Association (the “Memorandum and Articles”)
shall provide that the Board shall consist of not more than seven (7) Directors, which number shall not be changed except pursuant to an amendment to the Memorandum and Articles. For so long as any IDG Entity holds any Series A Share, the IDG
Entities shall be entitled to nominate and appoint a Director from time to time to occupy one (1) seat of the Board (the “IDG Director”), to remove such Director occupying such position and to fill any vacancy caused by the
resignation, death or removal of such Director occupying such position. For so long as any TDF Entity holds any Series A Share, the TDF Entities shall be entitled to nominate and appoint a Director from time to time to occupy one (1) seat of
the Board (together with the IDG Director, collectively, the “Series A Directors”, each a “Series A Director”), to remove such Director occupying such position and to fill any vacancy caused by the resignation,
death or removal of such Director occupying such position. For so long as any Series B Preferred Share remains outstanding, SIG (or its successor or permitted assign) shall be entitled to nominate and appoint a Director from time to time to occupy
one (1) seat of the Board (the “Series B Director”), to remove such Director occupying such position and to fill any vacancy caused by the resignation, death or removal of such Director occupying such position. The holders of a
majority in voting power of the Common Shares, voting as a class and to the exclusion of any other series or class of shares, shall be entitled to elect Directors from time to time to occupy four (4) seats of the Board (the “Common
Directors”), to remove any Directors occupying such positions and to fill any vacancy caused by the resignation, death or removal of Directors occupying such positions. Each of the Series B Preferred Shareholder (other than SIG) shall be
entitled to respectively appoint and remove one (1) observer (the “Observer”) to attend all meetings of the Board and all committees thereof (whether in person, telephonic or otherwise) in a non-voting observer capacity, and
each Observer shall be entitled to receive copies of all information and materials provided to the voting Directors at the same time and in the same manner. 

(B) The parties hereto shall cause the board of directors of each Domestic Entity to be composed in the same manner as provided in
Section 7.1(A). The parties hereto shall cause their nominees on the board of directors of any Domestic Entity to vote in the manner determined by the Board and shall cause any director who fails to vote in such manner to be removed. The
Company shall take all steps as are necessary to cause the provisions with respect to the governance of the Company to apply mutatis mutandis to the governance of each member of the Company Group. 

7.2 Committees of Board 

(A) The Board shall establish a compensation committee (the “Compensation Committee”) to manage the compensation
affairs of the Company Group, including implementing salary and equity guidelines for the Company Group, approving compensation packages, severance agreements and employment agreements for all senior managers (at the level of vice president or
above) as well as administering employee equity incentive plans of the Company Group. The Compensation Committee shall consist of three (3) Directors, including one (1) Common Director, one (1) Series A Director, and one
(1) Series B Director. At any meeting of the Compensation Committee, all the members of the Compensation Committee shall form a quorum. All acts of the Compensation Committee shall require the unanimous approval of all the members of the
Compensation Committee. 
 (B) The Board shall also establish an audit committee (the “Audit Committee”)
to assist the Board in providing an independent review of the financials of the Company Group, effectiveness of the financial reporting process, the internal control system of the Company Group and other auditing functions as the Board thinks fit.
The Audit Committee shall consist of three (3) Directors, including one (1) Common Director, one (1) Series A Director and one (1) Series B Director. At any meeting of the Audit Committee, all the members of the Compensation
Committee shall form a quorum. All acts of the Audit Committee shall require the unanimous approval of all the members of the Audit Committee. 
  

 14 

 7.3 Expenses, Indemnification and D&O Liability Insurance. Subject to the
Memorandum and Articles, the Company shall reimburse the Directors for all reasonable expenses relating to all Board activities, including, without limitation, travel, hotel and other expenses or fees properly incurred in relation to attending the
Board meetings or meetings of any committee. Subject to the Memorandum and Articles, the Company shall reimburse the Observers for all travel, hotel and other expenses properly incurred by them in fulfilling their duties in connection with the
matters that the Company entrusts to such Observers, subject to the prior written agreement of the reimbursement terms and conditions between the Company and such Observers. The Company shall indemnify the Directors to the fullest extent permissible
under applicable Laws, and shall cause its successor or any purchaser of all or substantially all of its assets to assume such obligation with respect to indemnification of the Directors. For as long as any representative of the Series A
Shareholders and the Series B Preferred Shareholders remains on the Board, if commercially reasonable and upon the request of the Board, the Company shall obtain and maintain adequate liability insurance for the Company’s Directors and officers
with a carrier and in an amount reasonably satisfactory to the Board. 
 7.4 Employee Incentive Plan. The parties hereto
acknowledge and agree that up to 1,743,072 Common Shares are reserved for issuance pursuant to (i) the employees’ stock option plans of the Company, which have been approved by the Board and are attached to the Series B-1 Share Purchase
Agreement, and (ii) any employees’ stock option plan of the Company to be subsequently approved by the Board with the affirmative vote of the Series B Director (the “ESOP”). Options granted under the ESOP shall vest as
follows: twenty-five percent (25%) of the shares vest one (1) year following the vesting commencement date, with the remaining seventy-five percent (75%) monthly vesting in thirty-six (36) equal installments over the next three
(3) years. No stock plan, stock purchase, stock option or other agreement or understanding between the Company and any holder of any equity securities or rights to purchase equity securities of the Company shall provide for acceleration or
other changes in the vesting provisions or other terms of such agreement or understanding as the result of termination of employment (whether actual or constructive), except that in the event of a merger, consolidation, sale of all or substantially
all of the assets of the Company or any other transaction, as a result of which the then existing shareholders of the Company will cease to own a majority of the voting securities of the Company upon occurrence of such event, should an employee be
terminated without cause within one (1) year after such event, the Board (with the consent from the Series B Director) may decide to grant one (1) year acceleration to such terminated employee. The Compensation Committee shall be
authorized to administer any employee incentive plan of the Company (including the ESOP) and allocate and grant options under such employee incentive plan. Notwithstanding the foregoing, the parties hereto agree that the outstanding options of the
Company on the date of this Agreement as disclosed to the Series B Preferred Shareholders in writing shall vest and be exercised according to the existing terms and conditions of such options. 

 

 15 

 8. Information and Inspection Rights 

8.1 Delivery of Financial Statements and other Information. The Company shall deliver to each Holder of more than fifteen thousand
(15,000) Preferred Shares, as adjusted for any share split, share dividend, combination, recapitalization or similar transaction (a “Major Holder”): 

(A) as soon as practicable, but in any event within ninety (90) days after the end of each fiscal year of the Company,
consolidated and consolidating income statements and statements of cash flows for the Company and the Company Group for such fiscal year and consolidated and consolidating balance sheets for the Company and the Company Group as of the end of the
fiscal year, all prepared in accordance with U.S. GAAP consistently applied in accordance with prior practice, and audited and certified by an accounting firm agreed by the holders of at least forty-eight percent (48%) of the Series B Preferred
Shares (including SIG for so long as it holds any Series B Preferred Shares) and the Company and retained by the Company being one of the "Big-4" international accounting firms, together with a management report including a comparison of financial
results with the applicable budget, all prepared in English; 
 (B) as soon as practicable, but in any event within
thirty (30) days after the end of each fiscal quarter of the Company, consolidated and consolidating unaudited income statements and statements of cash flows for such fiscal quarter and consolidated and consolidating unaudited balance sheets
for the Company and the Company Group as of the end of such fiscal quarter, all prepared in accordance with U.S. GAAP consistently applied in accordance with prior practice, and certified by the chief financial officer of the Company, together with
a management report including a comparison of financial results with the applicable budget, all prepared in English; 
 (C)
as soon as practicable, but in any event within fifteen (15) days of the end of each month, consolidated and consolidating unaudited income statements and statements of cash flows for such month and consolidated and consolidating unaudited
balance sheets for the Company and the Company Group as of the end of such month, all prepared in accordance with U.S. GAAP consistently applied in accordance with prior practice, and certified by the chief financial officer of the Company, together
with a management report including a comparison of financial results with the applicable budget, all prepared in English; 

(D) as soon as practicable, but in any event at least thirty (30) days prior to the end of each fiscal year, a budget and
business plan for the succeeding fiscal year for the Company and the Company Group, setting forth for each quarter during such succeeding fiscal year projected revenues, profits and operating expenses, and certified by the chief financial officer of
the Company; 
 (E) copies of any reports filed by the Company with any relevant securities exchange, regulatory
authority or governmental agency, copies of any such reports or documents, provided that such reports or other documents are not available to the public; 

(F) copies of all other documents or other information sent to any Person in such Person’s capacity as a shareholder of the
Company, and notice of any material liabilities incurred by or threatened against, and any material lawsuit or other material claim filed or threatened against, the Company or any member of the Company Group; and 

 

 16 

 (G) as soon as practicable, but in any event within fifteen (15) days after the
end of each quarter, an up-to-date capitalization table, certified by the Chief Executive Officer of the Company. 
 8.2
Inspection and Management Meetings. The Company shall permit each Major Holder, at such Major Holder’s expense, to visit and inspect any of the properties and examine the books of account and records of the Company or any member of the
Company Group and discuss the affairs, finances and accounts of such companies with the directors, officers, employees, accountants, legal counsel and investment bankers of such companies, all at such reasonable times as may be requested by the
Major Holder. The Company shall cause each member of the Company Group to permit each Major Holder to attend its monthly management meetings.  

8.3 Termination of Information and Inspection Covenants. The covenants set forth in Sections 8.1 and 8.2 shall terminate as to
Major Holders and be of no further force or effect upon the closing of a Qualified IPO. 
 8.4 Governmental/Securities
Filings. For three (3) years after the time when the Company becomes subject to the filing requirements of the Exchange Act or any other organized securities exchange, as long as a Major Holder continues to hold any Preferred Shares, the
Company will deliver to such Major Holder copies of, or provide a link on its public website to, any quarterly, annual, extraordinary, or other reports filed by the Company with the SEC or any other relevant securities exchange, regulatory authority
or government agency, and copies of any annual reports to the members or other materials delivered to any other shareholder.  

8.5 U.S. Tax Matters. 

(A) For purposes of this Section 8.5: 

“U.S. Investor” means (a) any Preferred Shareholder that is a United States person and (b) any
Preferred Shareholder that is an entity treated as a foreign partnership for U.S. federal income tax purposes, one or more of the owners of which are United States persons; and 

“United States person” means any person described in Section 7701(a)(30) of the Internal Revenue Code of
1986, as amended (the “Code”). 
 (B) Classification for U.S. Tax Purposes. The Company
and each of its Subsidiaries will not take any action inconsistent with the treatment of the Company as a corporation for U.S. federal income tax purposes and will not elect to be treated as an entity other than corporation for U.S. federal income
tax purposes. The Company and each of its Subsidiaries shall, if requested by a U.S. Investor, cooperate in determining whether it would be desirable, reasonable and appropriate for the Company and/or any Subsidiary to elect to be classified as a
partnership or branch for U.S. federal income tax purposes and, if so, to take all reasonable steps to cause any such elections to be made. 

(C) Passive Foreign Investment Company. The Company will use, and will cause each Subsidiary to use,
commercially reasonable efforts to avoid classification as a “passive foreign investment company” (a “PFIC”), as defined by the Code, for the current year or any subsequent year. The Company agrees to make available to any
U.S. Investor upon request, the books and records of the Company and its Subsidiaries, and to provide information to such U.S. Investor pertinent to the Company’s or any Subsidiary’s status or potential status as a PFIC. Upon a
determination by the Company, any U.S. Investor or any taxing authority that the Company or any Subsidiary has been or is likely to become a PFIC, the Company will provide such U.S. Investor with all information reasonably available to the Company
or any of its Subsidiaries to permit such U.S. Investor to (i) accurately prepare all tax returns and comply with any reporting requirements as a result of such determination and (ii) make any election (including, without limitation, a
“qualified electing fund” election under Section 1295 of the Code), with respect to the Company or any of its direct or indirect subsidiaries, and comply with any reporting or other requirements incident to such election. If a
determination is made by the Company, any U.S. Investor or any taxing authority that the Company is a PFIC for a particular year, then for such year and for each year thereafter, the Company will also provide each known U.S. Investor with a
completed “PFIC Annual Information Statement” as required by Treasury Regulation Section 1.1295-1(g) and otherwise comply with applicable Treasury Regulation requirements. The Company will promptly notify the U.S. Investors of any
assertion by the Internal Revenue Service that the Company or any of its Subsidiaries is or is likely to become a PFIC. 
  

 17 

 (D) Controlled Foreign Corporation. The Company shall: (a) furnish
to each U.S. Investor upon its reasonable request, on a timely basis, and at the Company’s expense, all information necessary to satisfy the U.S. income tax return filing requirements of such U.S. Investor (and each “United States
shareholder” of the Company as defined by Section 951(b) of the Code that owns a direct or indirect interest in such U.S. Investor (a “U.S. Shareholder”) arising from its investment in the Company and relating to the
Company’s classification as a “controlled foreign corporation” (a “CFC”) as defined by the Code; and (b) use commercially reasonable efforts to avoid generating for any taxable year in which the Company is a CFC,
amounts includible in the income of a U.S. Investor or U.S. Shareholder pursuant to Section 951 of the Code. If the Company ceases to be a CFC at any time, the Company will provide prompt written notice to known U.S. Investors if at any time
thereafter the Company becomes aware that it or any Subsidiary has become a CFC. Upon written request of a U.S. Investor from time to time, subject to obtaining the consent of its shareholders to release such information, the Company will promptly
provide in writing such information in its possession concerning its shareholders and, to the Company’s actual knowledge, the direct and indirect interest holders in each shareholder sufficient for such U.S. Investor to determine whether the
Company is a CFC. 
 (E) Compliance. The Company will comply and will cause its Subsidiaries to comply with
all record-keeping, reporting, and other requests necessary for the Company and its Subsidiaries to allow any U.S. Investor to comply with any applicable U.S. federal income tax Law. The Company will also provide any known U.S. Investor with any
information reasonably requested to allow such U.S. Investor to comply with any applicable U.S. federal income tax Law, including but not limited to information relating to the transfer of any equity interests of the Company (or any Subsidiary) and
the issuance or redemption by the Company (or any Subsidiary) of any equity interests. 
 8.6 Post-Qualified IPO Obligations.
For three (3) years following a Qualified IPO, the Company shall deliver to each Major Holder copies of, where applicable, the Company and Company Group’ Annual Reports to shareholders and quarterly and interim reports to shareholders
and all other filings with the SEC or any other regulatory agency, securities exchange or governmental agency promptly after such documents are filed. 
  

 18 

 9. Miscellaneous 

9.1 Governing Law. This Agreement shall be governed by and construed under the Laws of the State of New York, without giving effect
to the principles of conflicts of law thereunder. 
 9.2 Dispute Resolution 

(A) Any dispute, controversy or claim arising out of or relating to this Agreement, or the interpretation, breach, termination or
validity hereof, shall first be subject to resolution through consultation of the parties to such dispute, controversy or claim. Such consultation shall begin within seven (7) days after one party hereto has delivered to the other party hereto
a written request for such consultation. If within thirty (30) days following the commencement of such consultation the dispute cannot be resolved, the dispute shall be submitted to arbitration upon the request of either party with notice to
the other. 
 (B) The arbitration shall be conducted in Hong Kong under the auspices of the Hong Kong International
Arbitration Centre (the “Centre”). There shall be a single arbitrator. If the parties do not agree to appoint an arbitrator who has consented to participate within thirty (30) days after a notice of arbitration, the relevant
appointment shall be made by the Secretary General of the Centre. 
 (C) The arbitration proceedings shall be conducted
in English. The arbitration tribunal shall apply the Arbitration Rules of the United Nations Commission on International Trade Law, as in effect at the time of the arbitration. However, if such rules are in conflict with the provisions of this
Section 9.2, including the provisions concerning the appointment of arbitrators, the provisions of this Section 9.2 shall prevail. 

(D) The arbitrator shall decide any dispute submitted by the parties to the arbitration strictly in accordance with the
substantive Law of the State of New York and shall not apply any other substantive Law. 
 (E) Each party to arbitration
hereunder shall cooperate with the other in making full disclosure of and providing complete access to all information and documents requested by the other in connection with such arbitration proceedings, subject only to any confidentiality
obligations binding on such party. 
 (F) The award of the arbitration tribunal shall be final and binding upon the
disputing parties, and the prevailing party may apply to a court of competent jurisdiction for enforcement of such award. 

(G) Either party shall be entitled to seek preliminary injunctive relief, if possible, from any court of competent jurisdiction
pending the constitution of the arbitral tribunal. 
 9.3 Successors and Assigns. Except as otherwise provided herein,
the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the
parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. The rights of any Holder hereunder are only assignable
(i) by such Holder to any other Holder, (ii) to an Affiliate of such Holder, or (iii) to an assignee or transferee who acquires Equity Securities held by such Holder, and each such assignee shall execute a joinder agreement and become
a party to this Agreement as a Holder. This Agreement and the rights and obligations of any party hereunder shall not otherwise be assigned without written consent of the other parties. 

 

 19 

 9.4 Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. Any counterpart or other signature delivered by facsimile shall be deemed for all purposes as being good and valid execution and delivery of
this Agreement by that party.  
 9.5 Headings. The headings used in this Agreement are used for convenience only
and are not to be considered in construing or interpreting this Agreement.  
 9.6 Notices. Any notice required or
permitted pursuant to this Agreement shall be given in writing and shall be given either personally or by sending it by next-day or second-day courier service, fax, electronic mail or similar means to the address as shown below the signature of such
party on the signature page of this Agreement (or at such other address as such party may designate by 15 days’ advance written notice to the other parties to this Agreement given in accordance with this Section). Where a notice is sent by
next-day or second-day courier service, service of the notice shall be deemed to be effected by properly addressing, pre-paying and sending by next-day or second-day service through an internationally-recognized courier a letter containing the
notice, with a confirmation of delivery, and to have been effected at the expiration of two days after the letter containing the same is sent as aforesaid. Where a notice is sent by fax or electronic mail, service of the notice shall be deemed to be
effected by properly addressing, and sending such notice through a transmitting organization, with a written confirmation of delivery, and to have been effected on the day the same is sent as aforesaid. 

9.7 Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be
waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of (a) the Company, (b) the holders of a majority of the issued and outstanding Common Shares that are parties
to this Agreement, (c) the holders of at least two-thirds (2/3) of the issued and outstanding Series A Shares, and (d) the holders of at least a majority of the issued and outstanding Series B Preferred Shares; provided that if any
modification, change, discharge or termination adversely affects any right, privilege or power specifically provided herein for the Series B-1 Investors, it cannot be made without first obtaining the consent from the Series B Investors, unless such
modification, change, discharge or termination affects all holders of Series B Shares in the same fashion. 
 9.8
Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be valid, legal, and enforceable under all applicable Laws. If, however, any provision of this Agreement shall be invalid, illegal, or
unenforceable under any such applicable Law in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such Law, or, if for any reason it is not deemed so modified, it shall be invalid,
illegal, or unenforceable only to the extent of such invalidity, illegality, or limitation on enforceability without affecting the remaining provisions of this Agreement, or the validity, legality, or enforceability of such provision in any other
jurisdiction. 
  

 20 

 9.9 Entire Agreement. This Agreement and the documents referred to herein constitute
the entire agreement among the parties with respect to the subject matter of this Agreement. Any prior or contemporaneous agreement, discussion, understanding or correspondence among the parties (including any prior representations or warranties
given by the parties) regarding the subject matter of this Agreement, including without limitation the Prior Agreement, is superseded by this Agreement. 

9.10 Further Assurances. From and after the date hereof, the parties hereto shall execute and deliver such instruments, documents
or other writings, and shall take such further actions, as may be reasonably necessary or desirable to carry out and to effectuate fully the intent and purpose of this Agreement. 

9.11 Rights Cumulative. Each and all of the various rights, powers and remedies of a party hereto will be considered to be
cumulative with and in addition to any other rights, powers and remedies which such party may have at Law or in equity in the event of the breach of any of the terms of this Agreement. The exercise or partial exercise of any right, power or remedy
will neither constitute the exclusive election thereof nor the waiver of any other right, power or remedy available to such party. 

9.12 Interpretation. Unless a provision hereof expressly provides otherwise: (i) the term “or” is not exclusive;
(ii) words in the singular include the plural, and words in the plural include the singular; (iii) the terms “herein,” “hereof,” and other similar words refer to this Agreement as a whole and not to any particular
section, subsection, paragraph, clause, or other subdivision; (iv) the term “including” will be deemed to be followed by “, but not limited to,”; (v) the masculine, feminine, and neuter genders will each be deemed to
include the others; (vi) the terms “shall,” “will,” and “agrees” are mandatory, and the term “may” is permissive; (vii) the term “day” means “calendar day”, and (viii) all
references to dollars are to currency of the U.S. 
 9.13 No Waiver. Failure to insist upon strict compliance with any of
the terms, covenants, or conditions hereof will not be deemed a waiver of such term, covenant, or condition, nor will any waiver or relinquishment of, or failure to insist upon strict compliance with, any right, power or remedy power hereunder at
any one or more times be deemed a waiver or relinquishment of such right, power or remedy at any other time or times. 
 9.14
No Presumption. The parties acknowledge that any applicable Law that would require interpretation of any claimed ambiguities in this Agreement against the party that drafted it has no application and is expressly waived. If any claim is made by
a party relating to any conflict, omission or ambiguity in the provisions of this Agreement, no presumption or burden of proof or persuasion will be implied because this Agreement was prepared by or at the request of any party or its counsel.

  

 21 

 9.15 Specific Performance. Each of the parties hereto recognizes and acknowledges
that a breach by it of any covenants or agreements contained in this Agreement will cause the other party to sustain damage for which it would not have an adequate remedy at Law for money damages, and therefore each of the parties hereto agrees that
in the event of any such breach the aggrieved party shall be entitled to the remedy of specific performance of such covenants and agreements and injunctive and other equitable relief in addition to any other remedy to which it may be entitled, at
Law or in equity. 
 [The remainder of this page has been intentionally left blank.] 

 

 22 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	Company:
	
	CHINA KANGHUT HOLDINGS
		
	By:	 	 /S/ JIANG YIKANG

	
	Contact Address:
		 	No. 1-8, Tianshan Road
		 	Xinbei District, Changzhou City
		 	Jiangsu Province
		 	P.R. China

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	Existing Shareholders:
		
	By:	 	 /s/ JIANG YIKANG

		 	JIANG YIKANG 

	
	Contact Address:
		 	Room 501, Unit Jia
		 	Block 9
		 	Huaide Yuan, Zhonglou District
		 	Changzhou, Jiangsu
		 	P.R. China
		
	By:	 	 /s/ ZHAO GANG

		 	ZHAO GANG 

	
	Contact Address:
		 	No. 59-3, Dongxiatang
		 	Changzhou, Jiangsu
		 	P.R. China
		
	By:	 	 /s/ JIANG HUIYING

		 	JIANG HUIYING 

	
	Contact Address:
		 	Room 501, Unit Jia
		 	Block 9
		 	Huaide Yuan, Zhonglou District
		 	Changzhou, Jiangsu
		 	P.R. China
		
	By:	 	 /s/ JIANG ZHENYU

		 	JIANG ZHENYU 

	
	Contact Address:
		 	Room 501, Unit Jia
		 	Block 9
		 	Huaide Yuan, Zhonglou District
		 	Changzhou, Jiangsu
		 	P.R. China

			
	By:	 	 /s/ DU JUN

		 	DU JUN 

	
	Contact Address:
		 	No. 1 Lao Jie Street
		 	Jinfeng Zhen, Zhangjia Gang
		 	Jiangsu, P.R. China
		
	By:	 	 /s/ DU TINGTING

		 	DU TINGTING 

	
	Contact Address:
		 	No. 3 Yizheng Road
		 	Zhenjiang, Jiangsu
		 	P.R. China
		
	By:	 	 /s/ YANG XIAOHUI

		 	YANG XIAOHUI 

	
	Contact Address:
		 	No. 125 Longhutang East Street
		 	Xinbei District, Changzhou
		 	Jiangsu, P.R. China
		
	By:	 	 /s/ WANG JINGBO

		 	WANG JINGBO
	
	Contact Address:
		 	APT BLK 286C
		 	TOH GUAN ROAD #13-24
		 	Singapore

			
	By:	 	 /s/ DU JUN

		 	DU JUN 

	
	Contact Address:
		 	No. 1 Lao Jie Street
		 	Jinfeng Zhen, Zhangjia Gang
		 	Jiangsu, P.R. China
		
	By:	 	 /s/ DU TINGTING

		 	DU TINGTING 

	
	Contact Address:
		 	No. 3 Yizheng Road
		 	Zhenjiang, Jiangsu
		 	P.R. China
		
	By:	 	 /s/ YANG XIAOHUI

		 	YANG XIAOHUI 

	
	Contact Address:
		 	No. 125 Longhutang East Street
		 	Xinbei District, Changzhou
		 	Jiangsu, P.R. China
		
	By:	 	 /s/ WANG JINGBO

		 	WANG JINGBO
	
	Contact Address:
		 	APT BLK 286C
		 	TOH GUAN ROAD #13-24
		 	Singapore

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

					
	in the capacity of Existing Shareholders:
	
	IDG-ACCEL CHINA GROWTH FUND L.P.
		
	By:	 	 /s/ Chi Sing Ho

		 	Name:	 	 Chi Sing Ho

		 	Capacity:	 	 Authorized Signatory

	
	Contact Address:
		 	c/o IDG VC Management Ltd.
		 	10/F Effectual Building
		 	16 Hennessy Road
		 	Wanchai, Hong Kong
	
	IDG-ACCEL CHINA GROWTH FUND-A L.P.
		
	By:	 	 /s/ Chi Sing Ho

		 	Name:	 	 Chi Sing Ho

		 	Capacity:	 	 Authorized Signatory

	
	Contact Address:
		 	c/o IDG VC Management Ltd.
		 	10/F Effectual Building
		 	16 Hennessy Road
		 	Wanchai, Hong Kong
	
	IDG-ACCEL CHINA INVESTORS L.P.
		
	By:	 	 /s/ Chi Sing Ho

		 	Name:	 	 Chi Sing Ho

		 	Capacity:	 	 Authorized Signatory

	
	Contact Address:
		 	c/o IDG VC Management Ltd.
		 	10/F Effectual Building
		 	16 Hennessy Road
		 	Wanchai, Hong Kong

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

					
	in the capacity of Existing Shareholders:
	
	TDF CAPITAL CHINA II, LP
		
	By:	 	 /s/ Tina Ju

		 	Name:	 	 Tina Ju

		 	Capacity:	 	 Authorized Signatory

	
	Contact Address:
		 	c/o TDF Capital LLC
		 	Unit 2101, BEA Finance Tower
		 	66 Hua Yuan Shi Qiao Road
		 	Shanghai 200120, PRC
	
	TDF CAPITAL ADVISORS, LP
		
	By:	 	 /s/ Tina Ju

		 	Name:	 	 Tina Ju

		 	Capacity:	 	 Authorized Signatory

	
	Contact Address:
		 		 	c/o TDF Capital LLC
		 		 	Unit 2101, BEA Finance Tower
		 		 	66 Hua Yuan Shi Qiao Road
		 		 	Shanghai 200120, PRC

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

					
	in the capacity of Existing Shareholders:
	
	SIG China Investments One, Ltd.
		
	By:	 	
 

		 	Name:	 	  

		 	Capacity:	 	  

	
	Contact Address:
		 	Suite 1504,
		 	Corporate Avenue
		 	222 Hu Bin Road,
		 	Shanghai 200021

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

					
	in the capacity of Existing Shareholders:
	
	CDH Venture Capital Limited
		
	By:	 	
 

		 	Name:	 	  

		 	Capacity:	 	  

	
	Contact Address:
		 	2601, 26F, Lippo Centre Tower Two,
		 	89 Queensway
		 	Hong Kong

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	Investors:
	
	VIVO VENTURES FUND VI, L.P.
		
	By:	 	 /s/ Frank Kung

		 	Name: Frank Kung
		 	Capacity: Management Member,
		 	Vivo Ventures VI, LLC
		 	General Partner of Vivo Ventures
		 	Fund VI, L.P.
	
	Contact Address:
		 	575 High Street, Suite 201
		 	Palo Alto, CA 94301
		 	(650) 688-0818 Phone
		 	(650) 688-0815 Fax
	
	VIVO VENTURES VI AFFILIATES FUND L.P.
		
	By:	 	 /s/ Frank Kung

		 	Name: Frank Kung
		 	Capacity: Management Member,
		 	Vivo Ventures VI, LLC
		 	General Partner of Vivo Ventures VI
		 	Affiliates Fund, L.P.
	
	Contact Address:
		 	575 High Street, Suite 201
		 	Palo Alto, CA 94301
		 	(650) 688-0818 Phone
		 	(650) 688-0815 Fax

 SCHEDULE A 

EXISTING SHAREHOLDERS 

Jiang Yikang 

 
 Zhao Gang 

 
 Jiang Huiying 

 
 Jiang Zhenyu 

 
 Du Jun 

 
 Du Tingting 

 
 Yang Xiaohui 

 
 Wang Jingbo 

IDG-Accel China Growth Fund L.P. 
 IDG-Accel
China Growth Fund-A L.P. 
 IDG-Accel China Investors L.P. 

TDF Capital China II, L.P. 
 TDF Capital
Advisors, L.P. 
 SIG China Investments One, Ltd. 

CDH Venture Capital Limited

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]