Document:

Exhibit 10.7

 

		SPD BANK	Working Capital Loan Contract

 

No.:
54012019280150

 

SPD
Bank

 

Working
Capital Loan Contract

 

	Seal:

                                                                           Seal:
	 	Guangdong
        CarHouse E-Commerce Technology Co., Ltd.

        Shanghai
        Pudong Development Bank Co., Ltd. Dongguan Branch

 

Contract
Version No.: SPDB201412

 

Working
Capital Loan Contract

 

	Borrower:	Guangdong
    CarHouse E-Commerce Technology Co., Ltd.
	Principal
    Business Address:	Building
    3, No. 16, No. 4 Keji Road, Songshan Lake Industrial Park, Dongguan City, Guangdong Province 
	Contact:	Jiang
    Haitao	Tel.:	***********
	 
	Lender:	Shanghai
    Pudong Development Bank Co., Ltd.	Dongguan
    	Branch
	Principal
    Business Address:	Building
    C, Shenghe Plaza, Nancheng District, Dongguan
	Contact:	Zhang
    Congfeng	Tel.:	***********
	 	 	 	 	 	 	 

Whereas:

 

In
need of the working capital requirements for the company, the borrower made a working capital loan application to the lender.
After examination, the lender agrees to make loans according to the terms and conditions herein. In order to clarify the rights
and obligations of both parties, this contract is hereby concluded for mutual compliance according to the relevant laws, regulations
and rules of the People’s Republic of China and by mutual agreement.

 

Meanwhile,
the borrower and the lender shall confirm the following paramount clauses. (√ for the selected ones, × for the unselected
ones.)

 

þ
This contract is signed as a subsidiary financing document of the No. 54052019280054 Financing Amount Agreement
(Hereafter referred to as the Financing Amount Agreement). The moment this contract becomes effective, all the clauses
herein shall be incorporated into the Financing Amount Agreement as an integral part thereof (If the borrower has
previously signed the Financing Amount Agreement, this item shall be selected and the Financing Amount
Agreement’s number shall be indicated);

 

☒ This
contact is an independent credit document between the borrower and the lender (If the borrower didn’t sign the Financing
Amount Agreement with the lender, this item shall be selected);

 

☒
The surety has known the purpose of the loan under this contract is to borrow for repaying. The name of the original
agreement is      /     , which was signed on      /
     and identified as No.:      /     (If the purpose of the
loan under this contract is to borrow for repaying, this item must be selected.).

 

     

     

    

 

		SPD BANK	Working Capital Loan Contract

 

Part
I Commercial Clauses

 

		1.	Loan
                                                                                                                                                                                                                                   Type: þ Short-term working capital loan ☒ Medium and long-term
                                                                                                                                                                                                                                   working capital loan

 

		2.	The
                                                                                                                                                                                                                                 amount of the loan under this contract is RMB (currency) Five Million yuan only (amount in words).

 

		3.	The
concrete purpose of the loan under this contract is to purchase raw materials.

 

		4.	The
                                         life of the loan under this contract is (√ for the selected ones, × for the
                                         unselected ones.)

 

☒
From     /     month     /     day     /
    year to     /      month     /
     day     /      year;

 

þ
1 year (or 12 months) since the date of the first
withdrawal.

 

The
actual withdrawal date and repayment date shall be subject to the date on the receipt for the loan (loan voucher). The last repayment
date shall not exceed the life of the loan agreed herein. The receipt for the loan (loan voucher) is an integral part of this
contract.

 

		5.	The
                                         loan interest rate under this contract is (√ for the selected ones, × for
                                         the unselected ones.)

 

þ (1)
Interest rate for a (Renminbi) loan (√ for the selected ones, × for the unselected ones.)

 

☒
1) Each loan under this contract shall be calculated according to the percentage (□rise □fall) of the benchmark annual
loan interest rate that is announced by the People’s Bank of China on the issuing date and is of the same grade as the life
of the loan agreed herein.

 

If
the People’s Bank of China adjusts the benchmark interest rate during the loan period, the interest rate of each loan under
this contract shall be adjusted (√ for the selected ones, × for the unselected ones.):

 

☒
on the interest settlement date: adjust the interest rate from the day after the settlement date;

 

☒
yearly: adjust the interest rate from January 1 every year since the date when the People’s Bank of China adjusts the
benchmark interest rate;

 

☒
quarterly: adjust the interest rate from (day) of the last month every year since the date when the people’s bank of
china adjusts the benchmark interest rate;

 

☒
monthly: adjust the interest rate from (day) every month since the date when the people’s bank of china adjusts the
benchmark interest rate;

 

☒
on the date when the People’s Bank of China adjusts the benchmark interest rate;

 

☒
fixed rate: make no adjustment;

 

☒
according to other agreements (on a particular day) ________________________.

 

þ 2)
Each loan under this contract shall be calculated according to the one-year (life of a loan) basic loan interest rate of SPD
Bank: þ+
☒ - (þ264 BPS ☒    / %) announced by the lender on the issuing date. (The basic loan
interest rate of SPD Bank announced by the lender is the annual interest rate, which can be checked on the official website:
www. spdb. com. cn.)

 

If
the lender adjusts the basic loan interest rate of SPD Bank during the loan period, the interest rate of each loan under this
contract shall be adjusted (√ for the selected ones, × for the unselected ones.):

 

☒
on the interest settlement date: adjust the interest rate from the day after the settlement date;

 

☒
yearly: adjust the interest rate from January 1 every year since the date when SPD Bank adjusts the basic loan interest
rate;

 

☒
quarterly: adjust the interest rate from     /      (day) of the last month of each quarter;

 

☒
monthly: adjust the interest rate from     /    (day) of each month;

 

☒
on the date when SPD Bank adjusts the basic loan interest rate;

 

☒
fixed rate: make no adjustment;

 

☒
according to other agreements (on a particular day):     /    .

 

    2

     

    

 

		SPD BANK	Working Capital Loan Contract

 

þ (2)
Foreign Currency Loan Interest Rate:

 

Each
loan under this contract shall be calculated according to the        /       
 (how many)       /       (year/month/week)’s (LIBOR/HIBOR/SIBOR)
rate of       /        plus       /      
 BPS.

 

Once
each loan under this contract is issued, the loan interest rate shall be adjusted in the following ways (√ for the selected
ones, × for the unselected ones.):

 

☒
Since the issuing date of each loan, the interest rate shall be adjusted once every (1/3/6/12) month(s) based on the latest
foreign currency interest rate on the corresponding date;

 

☒
fixed rate: make no adjustment;

 

		6.	The
                                         settlement method of the loan under this contract is (√ for the selected ones,
                                         × for the unselected ones.):

 

þ monthly
settlement: Interest will be settled on the 20th of each month.

 

☒
quarterly settlement: Interest will be settled on the 20th of the last month of each quarter.

 

☒
Other methods:                             /                               .

 

Each
payment under this contract belongs to the repayment of principal with interest.

 

		7.	The
                                         penalty rate under this contract is:

 

		(1)	The
                                         overdue penalty rate under this contract is 30% plus the loan execution rate applicable
                                         on the date when the penalty rate is calculated and collected.

 

		(2)	If
                                                                                                                                                                                                                                   the loan under this contract is used for other purposes that are not agreed herein, the misappropriation penalty rate of 50%
                                                                                                                                                                                                                                   plus the loan execution rate applicable on the date when the penalty rate is calculated and collected shall be
                                                                                                                                                                                                                                   executed.

 

		8.	The
                                         loan availability period under this contract is from June 10, 2019 to June
                                         11, 2019. Besides, the first withdrawal shall be made before June 11, 2019.

 

		9.	The
                                         withdrawal plan for the loan under this contract is as follows (√ for the selected
                                         ones, × for the unselected ones.):

 

☒
The withdrawal plan is shown in the table below:

 

	No.	Withdrawal
    Date (month, day, year)	Withdrawal
    Amount (in words)
	1	 	 
	2	 	 
	3	 	 
	4	 	 
	5	 	 
	6	 	 

 

þ
Other withdrawal plan agreement: One-time
withdrawal.

 

		10.	The
                                         repayment plan for the loan under this contract is as follows (√ for the selected
                                         ones, × for the unselected ones.):

 

☒
The repayment plan is shown in the table below:

 

	No.	Repayment
    Date (month, day, year)	Repayment
    Amount (in words)
	1	 	 
	2	 	 
	3	 	 
	4	 	 
	5	 	 
	6	 	 

 

    3

     

    

 

		SPD BANK	Working Capital Loan Contract

 

þ
Other repayment plan agreement: One-time withdrawal.

 

		11.	Liquidated
                                                                                                                                                                                                                                    damages for early repayment of the loan: 0% of the actual total early repayment of the loan or RMB (currency) Zero
                                                                                                                                                                                                                                    yuan only (in words).

 

		12.	The
                                         principal amount of the loan repaid in advance shall not less than RMB (currency)
                                         Zero yuan only (in words).

 

		13.	Account
                                         Open (Tick√to select one of the following modes for RMB loan; the foreign currency
                                         loan must be the special account mode; cross× the unselected ones.):

 

þ Non-special
Account Mode:

 

		(1)	The
                                         general settlement account opened by the borrower with the lender is:

 

Opening
Bank: Shanghai Pudong Development Bank Co., Ltd. Dongguan Branch

 

Account
Name: Guangdong CarHouse E-Commerce Technology Co., Ltd.

 

Account
No.: ***********

 

		(2)	The
                                         fund withdrawal account opened by the borrower with the lender is:

 

Opening
Bank: Shanghai Pudong Development Bank Co., Ltd. Dongguan Branch

 

Account
Name: Guangdong CarHouse E-Commerce Technology Co., Ltd.

 

Account
No.: ***********

 

☒
Special Account Mode:

 

		(1)	The
                                         working capital loan account opened by the borrower with the lender is:

 

Opening
Bank:                       /                                                                                                                    

 

Account
Name:                       /                                                                                                                    

 

Account
No.:                        /                                                                                                                    

 

		(2)	The
                                         general settlement account opened by the borrower with the lender is:

 

Opening
Bank:                       /                                                                                                                    

 

Account
Name:                       /                                                                                                                    

 

Account
No.:                       /                                                                                                                    

 

		(3)	The
                                         fund withdrawal account opened by the borrower with the lender is:

 

Opening
Bank:                       /                                                                                                                    

 

Account
Name:                       /                                                                                                                    

 

Account
No.:                       /                                                                                                                    

 

		14.	Entrusted
                                         Payment by the Lender: It applies to the loan that has a clear payment object and of
                                         which the single payment amount is over (currency and amount) RMB 10000000.00 yuan.

  

    4

     

    

 

		SPD BANK	Working Capital Loan Contract

 

		15.	The
                                         surety that gives security to the debts under this contract and the security contract
                                         shall include but are not limited to:

 

þ Surety: Jiang
Haitao, Zhong Lianhua  the Security Contract No.: [ZB5405201900000014]

 

☒
Mortgagor:            /        the
Mortgage Contract No.: [              /                 ]

 

☒
Pledgeor:             /       
the Pledge Contract No.: [          /                            ]

 

	 	☒
Other security: 	 
	 	 	 
	 	 	 

  

		16.	Settlement
                                         of Breach of Contract

 

Liquidated
Damages: equals to zero (in words) % of the principal amount of the loan or none.

	 	 	 

 

		17.	The
                                         annexes to this contract include:

 

		(1)	Withdrawal
                                         Application Form

 

		(2)	/
                                         	 
	 	 	 	 
		(3)	/
                                         	 
	 	 	 	 
		(4)	/
                                         	 
	 	 	 	 
		(5)	/
                                         	 

 

		18.	Other
                                         matters agreed by both parties.

 

                                                             None

 

 

 

 

  

		19.	This
                                                                                                                                                                                                                                    contract is made in duplicate, one for the borrower, and the other one for the lender. Each copy shall
                                                                                                                                                                                                                                    have the same legal effect.

 

(End
of Part I)

 

    5

     

    

 

		SPD BANK	Working Capital Loan Contract

 

Part
II General Clauses

 

Article
1: Loan

 

1. The
borrower irrevocably agree and confirm that: The lender shall be entitled to adjust or add the conditions for granting loans due
to the changes in laws, regulations and policies, or the restrictions of the government’s macro-monetary policy or financial
regulatory policy, or based on the market conditions, fund positions, financial costs, its own business needs, borrower’s
performance capacity or financial status, etc.; the lender shall also be entitled to suspend, reduce or cancel the loan and notify
the borrower meanwhile due to other material changes. 

 

2. The
loan under this contract shall only be used for the purposes agreed herein. The borrower shall not misappropriate or occupy this
loan to invest in fixed assets, equity, etc., or to engage in sectors and purposes where production or operation is prohibited
by the state or activities incompatible with the purpose of the working capital loan.

 

Article
2: Loan interest rate and interest calculation method

 

1. Unless
otherwise agreed herein, the loan interest under this contract shall be calculated and collected according to the actual withdrawal
amount and the number of days occupied since the date when the loan is issued by the lender. The number of days occupied includes
the first day and excludes and last day. Daily interest rate = monthly interest rate / 30, monthly interest rate = annual interest
rate / 12.

 

2. If
the borrower fails to repay the principal of the loan payable on the expiry date (the “expiry date” herein also refers
to the early expiry date announced by the lender), the lender shall be entitled to calculate and collect the overdue penalty interest
according to the overdue penalty interest rate agreed herein and the actual overdue days since the overdue date until the borrower
pays off the principal and interest.

 

3. If
the borrower uses the loan for other purposes that are not agreed herein, the lender shall be entitled to calculate and collect
the misappropriation penalty interest on the amount that is misappropriated according to the misappropriation penalty interest
rate agreed herein and the actual default days since the default date until the borrower pays off the principal and interest.

 

4. The
lender shall be entitled to calculate and collect the compound interest on the interest that isn’t paid on time according
to the overdue penalty interest rate agreed herein and the actual overdue days since the overdue date.

 

5. Interest
Rate Liberalization or Market Paralysis

 

(1) If
the loan interest rate under this contract is calculated according to percentage of the rise or fall of the benchmark annual loan
interest rate that is announced by the People’s Bank of China on the issuing date and is of the same grade as the life of
the loan agreed herein, and meanwhile the People’s Bank of China implements the policy of interest rate liberalization for
RMB loans, the borrower and the lender shall negotiate with each other to confirm the interest rate standard the moment the loan
under this contract is issued. If no agreement can be reached within five (5) banking days since the commencement of the negotiation,
the borrower shall pay off all the principal and interest within thirty (30) banking days from the date on which no agreement
is reached. (This item applied to RMB loans.)

 

(2) When
the loan under this contract is issued, if there is no applicable LIBOR / HTBOR / SIBOR rate on the quotation date of the relevant
interest period, the borrower and the lender shall negotiate with each other to confirm the alternative interest rate; if no agreement
can be reached within five (5) banking days since the commencement of the negotiation, the borrower shall pay off all the principal
and interest within thirty (30) banking days from the date on which no agreement is reached. (This item applied to foreign currency
loans.)

 

    6

     

    

 

		SPD BANK	Working Capital Loan Contract

 

Article
3: Withdrawal

 

1. The
borrower shall meet the following conditions before making the first withdrawal:

 

(1) To
submit the Withdrawal Application Form (See Annex 1 or Annex 2 to this contract for the format), or the Loan Voucher
that has been properly filled in or other relevant documents according to the time and method agreed herein;

 

(2) This
contract and the corresponding security contract (if any) has been signed and will maintain effective, and the security right
has been effectively established;

 

(3) To
submit the currently valid business license, articles of association, and the financial statements near the date of withdrawal
(including but not limited to the annual financial statement and current statement audited by a certified public accountant in
the previous year);

 

(4) To
submit the loan resolution made by the borrower’s board of directors / shareholders or other equivalent institutions, the
letter of authorization from the legal representative to the authorized representative and the original sample signature of the
authorized representative;

 

(5) The
borrower has opened relevant accounts with the leader according the leader’s requirements;

 

(6) The
borrower has fulfilled its obligations agreed herein and no breach of contract agreed herein has occurred;

 

(7) Other
documents or conditions required by the lender.

 

2. Except
for the first withdrawal, the borrower shall meet the following conditions before each withdrawal:

 

(1) To
submit the Withdrawal Application Form (See Annex 1 or Annex 2 to this contract for the format), or the Loan Voucher
that has been properly filled in or other relevant documents according to the time and method agreed herein;

 

(2) The
statement and guarantee made by the borrower herein will maintain effective;

 

(3) The
borrower has fulfilled its obligations agreed herein and no breach of contract agreed herein has occurred;

 

(4) Other
documents or conditions required by the lender.

 

3. Withdrawal

 

(1) The
borrower shall make withdraw the loan in one time or in installment according to the withdrawal plan agreed herein, and submit
to the lender the Withdrawal Application Form (See Annex 1 or Annex 2 to this contract for the format) within three (3)
banking days prior to the expiry date of each withdrawal and handle the withdrawal formalities;

 

(2) If
the borrower wants to postpone or adjust the withdrawal date, he or she shall obtain the consent from the lender within three
(3) banking days prior to the expiry date of the withdrawal, and the lender shall be entitled to require the borrower to pay it
the interest reversal arising therefrom (interest reversal= interest during deferred withdrawal period- current deposit interest
of the same period);

 

(3) If
the borrower wants to cancel all or part of the loan that hasn’t been withdrawn, he or she shall apply to the lender for
cancellation on a determined withdrawal date or within three (3) banking days prior to the expiry date of the withdrawal, and
the cancellation may be made only upon the consent of the lender;

 

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		SPD BANK	Working Capital Loan Contract

 

(4) If
the borrower fails to handle the withdrawal formalities on time or doesn’t apply to the leader to postpone the withdrawal
date, the lender shall be entitled to cancel the loan that hasn’t been withdrawn;

 

(5) The
lender shall be entitled to exempt one or several conditions above, which won’t affect any right that the borrower enjoys
under this contract.

 

Article
4: Account open and management

 

1. The
borrower shall have a general settlement account, a fund withdrawal account before signing this contract (refer to Part I herein)
and a special account for the working capital loan agreed by both parties (if any). The borrower agrees to have the lender’s
monitor on the aforementioned accounts.

 

2. If
there’s no a special account for the working capital loan, the general settlement account shall be used to check the issuing
and repayment of the loan capital applied by the borrower from the lender.

 

If
there’s a special account for the working capital loan, the special account for the working capital loan shall be used to
check the issuing and repayment of the loan capital applied by the borrower from the lender. The interest of the capital in the
account shall be calculated based on the current deposit interest. The borrower agrees that apart from the seal reserved by the
borrower, a working capital loan capital supervision seal from the lender shall also be reserved at the same time.

 

3. The
borrower has confirmed that the fund withdrawal account is the account of receipts and the repayment reserve account under this
contract. The income cash flow or the overall cash flow of the borrower shall enter the fund withdrawal account.

 

The
borrower guarantees that the balance of his or her repayment reserve account shall not be less than the amount of principal and
interest payable by the borrower in the current period within each repayment date and three (3) days prior to the repayment date.
The borrower agrees that within each repayment date and three (3) days prior to the repayment date, the lender shall be entitled
to restrict or refuse the external payment behavior that may cause the balance of the borrower’s repayment reserve account
to be less than the amount of principal and interest payable by the borrower in the current period, so as to ensure that the balance
of the borrower’s repayment reserve account is enough to repay the principal and interest payable by the borrower in the
current period.

 

The
lender shall be entitled to monitor the fund withdrawal account. In the event of an abnormal cash flow in the fund withdrawal
account, the lender shall be entitled to investigate the borrower for the causes and take corresponding measures.

 

Article
5: Payment and regulation

 

	1.	1.
                                         If borrower agrees, lender is entitled to manage and control payment of loan fund based
                                         on the purpose agreed herein by means of entrusted payments by the lender and/or independent
                                         payments by the borrower.

 

Entrusted
payments by the lender means that the lender shall pay the loan fund through the borrower's account to the borrower's transaction
object conforming to the purpose agreed herein according to the borrower's withdrawal application and payment authorization.

 

Independent
payments by the borrower refers to that after the lender issues the loan fund to the borrower's account according to the borrower's
withdrawal application, the borrower shall pay to the borrower's transaction object that conforms to the purpose stipulated in
the contract.

 

    8

     

    

 

		SPD BANK	Working Capital Loan Contract

 

	2.	The
                                         borrower agrees, if the borrower and the lender is a newly established credit business
                                         relationship and the borrower's credit status is general, or the payment object is clear
                                         and the single payment amount exceeds the amount agreed in this contract (see the first
                                         part of this contract), or under other circumstances determined by the lender, the lender's
                                         entrusted payment method shall be adopted.

 

If
the method of entrusted payment is adopted by the lender, the lender shall have the right to verify whether the payment objects
listed in the payment application provided by the borrower, and if the payment amount and other information are consistent with
the corresponding business contract and other supporting materials according to the loan purpose agreed in the loan contract.
The lender will pay the loan funds to the borrower's transaction object through the borrower's account after approval.

 

	3.	When
                                         the borrower applies to the lender for external payment of loan funds, it shall provide
                                         submit documentations that meet the requirements of the lender, including but not limited:

 

(1)
Documentations with a purpose of payment conforming to the purpose agreed herein;

 

(2)
Commercial contract and written documents that truly reflects the borrower's payment obligations. As for the fees that must be
paid without signing the contract, the charging policies and standards approved by the competent departments shall be provided;

 

(3)
Corresponding invoices and relevant receipts. If such documents cannot be obtained at the same time as the payment, the borrower
shall, after the completion of the payment, borrower shall promptly submit the corresponding invoice or receipt for the payment.

 

(4)
Legal and Valid Payment Voucher

 

(5)
Other documentation required by lender.

 

	4.	If
                                         no working capital special account has been opened, if a working capital special account
                                         is not opened, the borrower shall submit the loan letter to the lender three (3) days
                                         prior to the proposed withdrawal date (see annex 1 for the format). Meanwhile, it also
                                         puts forward whether to use the lender's entrusted payment or the borrower's independent
                                         payment. The borrower confirms that the lender has the right to check whether the relevant
                                         information of the borrower conforms to the payment conditions stipulated in this contract,
                                         and has the right to determine the payment method of the corresponding loan.

 

Where
it is necessary to open a special account for working capital loan and adopt the method of entrusted payment by the lender, borrower
shall submit to the lender an application for payment affixed with the seal reserved by the borrower of the working capital loan
special account (see annex 3 to this contract for the format) on three (3) business days prior to the date of payment. The lender
shall have the right to verify whether the relevant information of the borrower conforms to the payment clause stipulated in this
contract. If approved by the lender, it shall affix a seal of working capital loan fund supervision to the payment voucher and
make the payment to the external party. If the method of independent payment is adopted by the borrower, the borrower shall submit
an application for payment (see annex 3 of this contract for the format) and relevant materials to the lender three (3) business
days in advance. The lender shall have the right to verify whether the relevant information of the borrower conforms to the payment
clause stipulated in this contract. If approved by the lender, and the borrower shall fill in the payment voucher (the sum of
each payment voucher shall not exceed the amount entrusted by the lender as agreed herein). After verification, the lender shall
affix a regulatory seal of working capital loan funds on the summary payment voucher and transfer the corresponding funds to the
borrower's general settlement account.

 

	5.	If
                                         the method of independent payment is adopted by the borrower, the borrower shall summarize
                                         and report to the lender the independent payment status of the loan funds monthly. The
                                         lender is entitled to check whether the loan payment of the borrower in line with the
                                         agreed purpose and method of payment by means of account analysis, voucher inspection
                                         and on-site investigation.

 

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		SPD BANK	Working Capital Loan Contract

 

	6.	The
                                         borrower confirms that it shall pay to the lender the remittance fee arising from the
                                         payment of the loan funds. When the remittance fee occurs, the lender shall have the
                                         right to deduct the actual amount directly.

 

	7.	In
                                         the process of loan release and payment, in case of any following situations, the lender
                                         shall have the right to require the borrower to supplement the terms of withdrawal and
                                         payment, or change the payment method of the loan and stop the release and payment of
                                         the loan funds:

 

(1)
Decline in credit status;

 

(2)
The profitability of the main business is not uncompetitive;

 

(3)
Abnormal use of loan funds.

 

Article
6: Repayment

 

	1.	Borrower shall repay the principal and interest of the
loan and related expenses in full and on time according to the repayment plan agreed herein. 1. The borrower hereby irrevocably
authorizes the lender to take the initiative to deduct the aforesaid amount from its account with the lender at the maturity date
of the loan or to repay the creditor's right upon meeting the provisions hereof.

 

	2.	If the borrower repays the loan in advance, it shall
submit an application in writing to the borrower and obtain the written consent of the lender before the tenth (10) business day
before the expected repayment date. Without the prior written consent of the lender, the borrower shall still repay principal
and interest according to the time limit and interest rate stipulated in the contract. Repayment in advance agreed by the lender
shall be deemed to be due in advance.

 

Repayment
in advance agreed by the lender shall be deemed to be due in advance. Under this circumstance, the lender shall also have
the right to ask the borrower to pay a certain penalty as agreed herein (see part I of this contract).

 

If
the loan is repaid in advance, the interest should be calculated based on the actual borrowing days of the borrower and returned
together with the principal; the principal amount of the loan repaid in advance shall not be less than the limit stipulated in
the first part of this contract; and the principal returned shall be offset in the reverse order of the repayment schedule agreed
herein.

 

	3.	If the borrower fails to repay the loan on schedule
due to legitimate reasons, it shall apply tothe lender for loan renewal before the 30th (30th) business day of the repayment period
as agreed herein and prepare the necessary materials to go through the formalities of loan renewal. A written consent shall be
issued by guarantor, mortgagor and pledger if the loan under this contract is guaranteed by mortgage or pledge. The lender shall
have the right to renew it or not. If the borrower does not apply for renewal or the application for renewal is not approved by
the lender, the loan shall be transferred to the overdue loan from the next day after the maturity date.

 

	4.	The borrower shall not withdraw any of the loan funds
that have been repaid.

 

Article
7: Representations and warranties

 

The
borrower makes the following representations and warranties to the lender at the time of execution of this contract and shall
remain in force for the duration of this contract.

 

	1.	The
                                         borrower is an enterprise (business) legal person/other economic organizations with independent
                                         legal personality, complete financial system and repayment ability established in accordance
                                         with applicable laws, which have the right to conclude and perform this contract according
                                         to law.

 

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		SPD BANK	Working Capital Loan Contract

 

	2.	Borrower
                                         shall have the right to sign this contract and has completed all authorizations and approvals
                                         from the board of shareholders, the board of directors or other competent authorities
                                         for the endorsement of this contract and the performance of its obligations hereunder.
                                         The terms of this contract are the true expression of the borrower's will and are legally
                                         binding on the borrower.

 

	3.	The
                                         endorsement and performance of this contract shall neither violate any laws(the laws
                                         under this contract include the laws, regulations, local regulations, judicial interpretations,
                                         etc., which the borrower shall abide by, and the same hereinafter), adjudication made
                                         on the relevant documents by competent authorities that shall be bided by borrower, nor
                                         shall be inconsistent with the borrower's articles of association or any contractual
                                         agreements or other obligations entered into by the borrower.

 

	4.	The
                                         borrower shall ensure that all financial statements (if any) issued by it comply with
                                         the provisions of its applicable laws and that the statements faithfully, completely
                                         and fairly reflect the financial condition of the borrower.

 

	5.	In
                                         the signing and performance of this contract, borrower shall abide by the principle of
                                         honest and trustworthy, and ensure all materials, documents and information (including
                                         but not limited to business license, project approval document, feasibility study report,
                                         self-funded implementation certificate, financial statements, etc.) provided to the lender
                                         (including itself and the guarantor) are true, effective, accurate and complete without
                                         any concealment or omission.

 

	6.	The
                                         borrower warrants that it has completed the record, registration or other procedures
                                         required for the validity and lawful performance of this contract.

 

	7.	There
                                         has been no material adverse change in the financial position of the borrower since the
                                         issuance of the most recent audited financial statements.

 

	8.	The
                                         borrower shall strictly abide by laws and regulations in its business activities and
                                         carry out various businesses in strict accordance with the provisions of its business
                                         license or the business scope approved by law. The borrower shall go through the formalities
                                         of registration and annual inspection on schedule, produce and operate legally, have
                                         the capability of continuous operation and a legitimate income of repayment.

 

	9.	The
                                         borrower does not waive any claims due, nor dispose of existing principal property in
                                         a free or otherwise inappropriate manner.

 

	10.	The
                                         borrower has disclosed to the lender such facts and conditions as it knows or should
                                         know that are material to the lender's decision on whether to make the loan under this
                                         contract (including but not limited to the operating condition, financial condition,
                                         external guarantee, etc.)

 

	11.	The
                                         borrower warrants that it has good credit standing and no material adverse record.

 

	12.	The
                                         Borrower warrants that there are no other circumstances or events that cause or may have
                                         a material adverse effect on the borrower's ability to perform.

 

Article
8: Covenants

 

Borrower
and lender agree as follows:

 

1. The
borrower undertakes to operate the business in accordance with the law and use the loan for the purposes agreed herein and not
for other purposes. The borrower shall provide financial and accounting information including monthly and annual reports regularly
as required by the lender, and shall actively cooperate with the lender to supervise the use of loan funds and the operation of
the borrower. The lender may inspect and supervise the use of the loan in various ways at any time

 

2. The
borrower shall repay the principal and interest of the loan hereunder in accordance with the time, amount, currency and interest
rate stipulated in the contract, the application, and the certificate of borrowing (loan).

 

    11

     

    

 

		SPD BANK	Working Capital Loan Contract

 

3. The
borrower undertakes that if any event occurs or is about to occur that would have a material adverse effect on the financial condition
of the guarantor or its ability to perform its guarantee obligations, the borrower will promptly provide another new guarantee
approved by the lender in a timely manner.

 

4. The
borrower undertakes not taking the following actions without the written consent of the lender:

 

(1) Transfer
(including sale, gift, debt settlement, exchange, etc.), mortgage, pledge or otherwise dispose of all or most of its major assets;

 

(2) Contract,
joint venture, major foreign investment, shareholding reform, merger (merger), joint venture (cooperation), division, equity transfer,
substantial increase in debt financing, establishment of subsidiaries, property transfer, capital reduction, suspension of business,
dissolution, bankruptcy filing, restructuring or cancellation and other behaviors that may affect the borrower's ability to repay.

 

(3) Provide
a guarantee to a third party sufficient to materially and adversely affect its financial position or its ability to perform its
obligations under this contract;

 

(4) early
repay the other long-term debts that may have a material adverse impact on the borrower's ability to perform its obligations under
this contract;

 

(5) Sign
a contract/agreement that materially and adversely affects the ability of the borrower to perform its obligations under this contract
or undertake relevant obligations having such effect.

 

5. The
borrower undertakes that in the event of any of the following events, the borrower will immediately notify the lender on the date
of occurrence of the event and deliver the relevant original notices to the lender (affixed with official seal) within five (5)
banking days from the date of occurrence of the event:

 

(1) The
statements and warranties made by the borrower in this contract become untrue, inaccurate or invalid due to relevant events;

 

(2) The
borrower or its controlling shareholder, the actual controller or its associated persons are involved in litigation, arbitration
or the seizure, seizure, freezing, enforcement or other measures of the same effect have been taken against its assets, or its
legal representative/principal is involved in litigation, arbitration or other compulsory measures;

 

(3) The
borrower's legal representative or its authorized agent, the person in charge, the principal financial officer, the mailing address,
the enterprise name, the office space and other matters have changed;

 

(4) The
borrower has been applied for reforming by other creditors, gone bankrupt or withdrawn by a superior competent unit;

 

(5) The
occurrence of other material adverse events sufficient to affect the borrower's solvency.

 

6. The
borrower guarantees that do not violate the normal order of repayment by giving priority to the repayment of other borrowings
and not to enter into any contract or agreement now or in the future which would place the borrowings under this contract in a
subordinate position.

 

7. The
borrower shall repay and pay principal and interest under this contract in the same currency as it possible. If the borrower pays
the debt in a different currency, it shall, by itself or by authorizing the lender, repay the principal and interest owed in the
currency of the loan in accordance with the “Deduction Agreement” of this contract and bear the expenses thus incurred.
When the guarantor repays the debt on behalf of the borrower in different currencies, it shall prevail “Deduction Agreement”
agreed herein, and the expenses thus incurred shall be borne by the borrower.

 

    12

     

    

 

		SPD BANK	Working Capital Loan Contract

 

8. In
the event of specific circumstances or changes in the guarantee hereunder, the borrower shall, as required by the lender, promptly
provide other guarantees recognized by the lender. The specific circumstance or specific changes include but not limited to suspension
of business, dissolution, suspension of business for rectification, revocation or revocation of business license, application
for or revocation, bankruptcy, significant change in operation or financial condition of guarantor, property preservation measures
such as legal representatives, directors, supervisors and major business managers involved in major litigation or arbitration
cases, reduction or possible reduction of the value of collateral or seizure of collateral, etc., a breach of contract under the
guarantee contract and a demand to terminate the guarantee contract, etc.

 

9. The
lender shall have the right to conduct on-site or off-site due diligence on the borrower, and to conduct post-loan inspection
on the borrower's operating status, financial status, external guarantee status, use of borrowed funds and repayment status. The
borrower is obliged to actively cooperate with the lender in the loan payment management, post-loan management and relevant inspection.

 

10. The
lender shall have the right to recover the borrowed loan funds hereunder in advance according to the borrower's fund withdrawal.

 

11. Special
agreements concerning group customers (applicable to group customers).

 

If
the borrower of this contract is a group customer, the borrower hereby undertakes that:

 

(1)
The borrower shall promptly report the related transactions of more than 10% of the actual net assets of the recipient,
including: (1) The relationship of the parties to a transaction; (2) transaction items and transaction nature; (3) the
amount or proportion of the transaction; (4) pricing policies (including transactions with no or only nominal amounts). 

 

(2)
If the actual recipient has the following circumstances, the borrower shall be deemed to have breached the contract, and the lender
shall have the right to unilaterally decide to cancel the customer has not used the credit, and to recover part or all of the
credit has been used or to ask the customer to call up to 100% margin: (1) provide false materials or concealing important
business financial facts; (2) arbitrarily change the original use of credit, misappropriating credit or using bank credit to
engage in illegal transactions without the consent of the lender; (3) Take use of a false contract with a related party to
discount or pledge claims such as notes receivable and accounts receivable to the bank to obtain bank funds or credit; (4)
refuse to accept the supervision and inspection by the lender over the use of its credit funds and related business financial
activities; (5) In the case of major merger and acquisition and reorganization that may affect the credit security according
to the lender; (6) intentionally evade or invalidate bank claims through related transactions.

 

12. The
borrower agrees and irrevocably authorizes that: On the premise that the lender does not violate the administrative regulations
of credit investigation industry and the prohibitive provisions of relevant laws and regulations, in accordance with the collection
requirements of the basic database of financial credit information established by the state, shall be entitled to provide information
about all the contracts/agreements/commitments signed by the borrower and the lender, including the relevant information about
the performance information of all the above contracts/agreements/commitments, as well as the basic corporate information and
other information provided by the borrower to The basic database of financial credit information set up by the state for inquiries
and use by qualified units; in the meanwhile, the lender shall also have the right to access and use the credit information of
the borrower entered into the financial credit information base database established by the state. This authorization covers all
aspects of the lender's necessary business management of the business under this contract before and after the signing of this
contract, and the validity period will lapse with the actual termination of this contract. 

 

    13

     

    

 

		SPD BANK	Working Capital Loan Contract

 

13. The
borrower hereby confirms that it is fully understand and aware of the position of the lender against its employees taking advantage
of their positions to seek any form of benefit, and undertakes to avoid such situations in line with the principle of integrity
and fairness, not providing any form of improper benefits to the employees of the lender privately, such as kickbacks, gifts,
securities, valuables, various incentives, private expense compensation, private travel, high consumption entertainment, etc.

 

Article
9: Deduction agreement

 

1. The
borrower agrees that when any debt relating to the loan hereunder becomes due and payable, the lender shall have the right to
directly deduct the funds in the repayment reserve account opened by the borrower in Shanghai Pudong Development Bank Co., Ltd.
for the repayment of debts due. 

 

2. If
the funds in the repayment reserve account are insufficient to pay off the debt, the lender shall have the right to deduct funds
from any other account opened by the borrower at any branch of Shanghai Pudong Development Bank Co., Ltd. 

 

3. The
lender shall have the right to use the proceeds for the repayment of the loan principal interest or other expenses, and the payment
of the amount of the debt of the borrower shall be determined by the lender.

 

(1)
If the currency of the loan is RMB, the principal and interest of the loan shall be repaid after the foreign exchange settlement
is converted into RMB in accordance with the currency of the deduction and the purchase price of the mark of exchange for RMB
which is then published by the lender and applicable to the deduction.

 

(2)
If the borrowing currency is not RMB and the deduction currency is RMB, the principal and interest of the loan shall be repaid
after the foreign exchange purchase is converted into the currency of the loan directly in accordance with the selling price of
RMB and the applicable currency of the loan which is then published by the lender.

 

(3)
If loan currency and deduction currency are not RMB and inconsistent, the foreign exchange settlement shall be converted into
RMB in accordance with the currency of the deduction declared applicable by the lender at the time of deduction and the purchase
price of RMB conversion first, and then the foreign exchange purchase shall be converted into the borrowing currency according
to the purchase price of RMB and the borrowing currency published by the lender on the same day to pay off the principal and interest
of the loan.

 

Article
10: Proof of debt

 

The
lender shall, in accordance with its usual business practice, maintain accounts in its accounting books relating to the business
activities covered by this contract to prove the loan amount of the lender. The borrower acknowledges that the valid certificate
of the creditor's right of the loan under this contract shall be the accounting certificate or other valid certification materials
issued and recorded by the lender in accordance with its own business regulations.

 

Article
11: Notice and delivery

 

1. Any
notice sent by one party to the other party shall be sent to the address set forth herein until the other party notifies the other
party in written form to change the address. If sent to the aforementioned address, it shall be deemed to have been delivered
on the following date: In the case of a letter, it shall be the seventh (7) business day after the date of posting by registered
mail to the address set out in this contract; and if it is delivered specially, it shall be the date on which signed by the recipient.

 

    14

     

    

 

		SPD BANK	Working Capital Loan Contract

 

2. The
borrower agrees that in terms of summons and notices of any action brought against him, it shall be deemed to have been delivered
to the principal business address set forth herein. The above address change is not effective to the lender without prior notice.

 

Article
12: Default event and handling

 

	1.	Default
                                         event

 

In
case of any of the following circumstances, it shall constitute a default of the borrower against the lender:

 

(1) In
terms of any representations and warranties in this contract or in any notice, authorization, approval, consent, certificates
and other documents made pursuant to or in connection with this contract by the borrower, it is incorrect or misleading at the
time of making, or has been proved to be incorrect or misleading, or has been proved to be invalid or revoked or has no legal
effect.

 

(2) The
borrower has violated any of the “Other Matters Agreed Upon by the Parties” (if any) in Part I hereof or any of the
provisions in article 8 of Part II hereof.

 

(3) The
borrower has a major cross-default event, including but not limited to the borrower's breach of any other loan contract agreement
entered into by the borrower; or the borrower fails to pay its debts under any other loan contract agreement entered into by it.

 

(4) The
borrower's investors withdraw funds, transfer assets or transfer equity without authorization.

 

(5) The
guarantor has or will no longer have the guarantee ability corresponding to the loan, or violates the security documents signed
by the guarantor.

 

(6) In
case of closure, suspension of production, discontinuation of business, suspension business for rectification, reorganization,
liquidation, being taking-over or trusteeship, dissolution, revocation or cancellation of business license or bankruptcy of the
borrower.

 

(7) The
borrower or the surety encounters deteriorating financial status, operational difficulties, or affairs or situations that may
exert a negative effect on its normal operation, financial status or debt paying ability.

 

(8)
The borrower or its controlling shareholder, actual controller or related person gets involved in major litigation or arbitration,
or its major assets are seized, sealed up, frozen, or treated with other enforcement measures of the same effect. Or, the borrower’s
legal representative/person in charge, director, supervisor or senior management gets involved in litigation or arbitration or
other enforcement measures that may exert a negative effect on the borrower’s debt paying ability.

 

(9) Fail
to repay the principal and interest as scheduled or use the loan for the agreed purpose.

 

(10) Fail
to pay the loan funds in the agreed way.

 

(11) The
file information submitted for loan application is false or erroneous.

 

(12) Do
not comply with or exceed the relevant financial indicator restrictions agreed in this contract.

 

(13) The
fund balance in the repayment reserve account is lower than the principal and interest payable of the Borrower in the current
period within any principal and interest repayment date under this contract and three (3) days before that.

 

(14) The
fund flow in the general settlement account / fund withdrawal account is abnormal.

 

(15) The
borrower acts in violation of this contract, which is enough to hinder the normal performance of this contract or damages the
legitimate interests of the Lender.

 

    15

     

    

 

		SPD BANK	Working Capital Loan Contract

 

2. Default
handling

 

(1)
If one or more of the default conditions listed in the preceding clause occur, the mortgagee may take one or more of the following
measures according to the circumstances:

 

1 The
mortgagor is required to correct his behavior within a definite time.

 

2 Cancel
mortgagor’s unused loans, stop issuing and paying mortgagor’s unused loans.

 

3 Announce
all or part of the principal of the loan under this contract to expire immediately and in advance, and demand that some or all
of the loans be immediately repaid, the interest owed be settled, and the guarantor or mortgagor be immediately recoursed through
various forms.

 

4 Collect
penalty interest on overdue loans and misappropriated loans, and collect compound interest.

 

5 Deduct
from any account opened by the mortgagor in each branch of Shanghai Pudong Development Bank.

 

6 The
mortgagor is required to supplement the conditions for loans issuance and payment, or change the loan payment method.

 

7 The
mortgagor is required to provide other guarantees approved by the mortgagee.

 

8 Other
necessary measures required by law.

 

(2)
In addition to the above measures, the mortgagee may also require the mortgagor to bear the liability for breach of contract and
require the mortgagor to pay for the liquidated damage (for the calculation of the liquidated damage, see the first part of this
contract). If the liquidated damage fails to cover the losses suffered by the mortgagee, the mortgagor shall compensate the mortgagee
for all the losses suffered thereby.

 

(3)
If the mortgagor fails to repay the principal and interest in full and on time, the party shall also bear all the costs paid by
the mortgagee for realizing his claims and security rights, including but not limited to, collection fees, litigation costs, attorney
fees, travel expenses, and various other accrued expenses.

 

Article
13: Entry into force, alternation and termination

 

1. This
contract enters into force upon the signature (or seal) of the legal representative of the mortgagor or its authorized agent and
the official seal, as well as the signature (or seal) of the legal representative of the mortgagee (the principal) or its authorized
agent and the official seal (or special seal for contract signing), and will terminate after the settlement of all claims under
this contract.

 

2. After
this contract enters into force, neither party to the contract may change or terminate this contract arbitrarily. If this contract
needs to be changed or dissolved, both parties shall reach consensus and conclude a written agreement.

 

Article
14: Other Terms 

 

1. Definition

 

(1)
“All claims” under this contract refers to the principal of loans, interest, liquidated damages, and various expenses
incurred to realize the claims.

 

(2)
The term “interest” under this contract includes interest, default interest and compound interest.

 

(3)
The term “bank business day” under this contract refers to the usual business day when the mortgagee is open for business,
excluding Saturdays and Sundays (except for business operations due to adjustments because of holidays) or other statutory holidays.

 

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		SPD BANK	Working Capital Loan Contract

 

2. Applicable
law

 

Laws
of the People’s Republic of China (for the purpose of this contract, excluding the laws of Hong Kong, Macau Special Administrative
Region, and Taiwan) are applicable to this contract and this contract shall be interpreted in accordance with applicable laws.

 

3. Dispute
resolution

 

All
disputes concerning this contract shall be settled through friendly negotiation; if the negotiation fails, a lawsuit shall be
submitted the people’s court where the mortgagee’s domicile is located. During the dispute, both parties shall continue
to implement the terms not covered in the dispute.

 

4.
Miscellaneous

 

(1)
If the issues not covered in this contract need to be supplemented, both parties may agree and record in the first part of this
contract, or reach a separate written agreement as an attachment to this contract. The attachment to this contract (see the first
part of this contract) is an integral part of this contract and enjoys the same legal effect as the main body of this contract.

 

(2)
During the contract term, that mortgagee extends a time limit or delays in taking action on any default or other behavior of the
mortgagor shall neither damage, affect or limit all rights that the mortgagee enjoys as a creditor in accordance with the law
or this contract Nor can it be regarded as a Mortgagee's recognition of the Mortgagor's violation of this contract, nor can be
regarded as mortgagee waiving the right to take action against the mortgagor’s existing or future defaults.

 

(3)
That any clause of this contract becomes invalid will not affect the validity of other clauses in this contract. When this contract
is invalid for any reason, the mortgagor shall still bear the responsibility to repay all the debts owed to the mortgagee under
this contract. If the above situation occurs, the mortgagee is entitled to stop perform this contract immediately, and can immediately
recover all debts owed by the mortgagor under this contract from the mortgagor.

 

(4)
The mortgagee may assign all or part of its rights and/or obligations under this contract, and in this case, the assignee shall
be entitled to and/or assume same rights and/or obligations as a party to this contract. After receiving the notice from the mortgagee
about the credit assignment, the mortgagor shall be liable to the assignee as agreed in this contract.

 

(5)
Unless otherwise specified in this contract, the relevant terms and expressions in the attachments to this contract have the same
meaning as this contract.

 

(6)
The headings under this contract are for reference only and shall not be taken as the basis for the content under the headings.

 

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

 

    17

     

    

 

		SPD BANK	Working Capital Loan Contract

 

(This
page is the signature page and there is no text)

 

This
contract is signed by the mortgagor and mortgagee below on June 10, 2019. Both parties have explained and discussed all the terms
in detail before signing this contract. Both parties have no doubt about the terms of the contract, and they have a good knowledge
of the legal implications for both parties’ rights, obligations and limitations or exclusions.

 

	Mortgagor
    (official seal)	Mortgagee
    (official seal or specific seal for contract signing)
	/s/
    Guangdong CarHouse E-Commerce Technology Co., Ltd. [Corporate seal affixed here]	/s/
    Dongguan Branch of Shanghai Pudong Development Bank [Corporate seal affixed here]
	Legal
    representative or authorized agent (signature or seal)	Legal
    representative/principal or authorized agent(signature or seal)
	/s/
    Haitao Jiang	/s/
    Yiting Wang

  

    18

     

    

 

		SPD BANK	Working Capital Loan Contract

 

Chen
Bairong (sealed)

The
official seal is confirmed as valid (sealed).

Contract
number: 54011906102000121579

 

Attachment
1:

 

Withdrawal
Application Form Under Liquidity Loans Contact 

(Applicable
to opening a special account for liquidity loans)

 

No.:                               

 

Dongguan
Branch of Shanghai Pudong Development Bank,

 

Whereas
our company concluded Liquidity Loans Contract No.:54012019280150 (hereinafter referred to as “loans contract”)
with your bank on June 10, 2019. In accordance with the withdrawal plan as agreed in the contact, our company wants to withdraw
the first fund on June 11, 2019, namely RMB Five Million Yuan only (in words).

 

In
accordance with the stipulations in the loans contract, this fund should be paid to the general settlement account of the Mortgagor
in Shanghai Pudong Development Bank. Account name: Guangdong CarHouse E-Commerce Technology Co., Ltd., and account No.:******************.

 

Our
company hereby confirms that up to the date when the application form is submitted, there is no event or condition that constitutes
default event under the loans contract. Our company further confirms that all the commitments stipulated in the loans contract
have been followed while all the applicable preconditions stipulated in the contact have been met.

 

For
the fund to be withdrawn this time, our company hereby applies for paying the loans according to the second method below.

 

1.
Entrusted payment method of Mortgagor only:

 

	(1)	Our
                                         company has submitted the documents below as agreed in the loans contract to your bank:

 

	n	Commercial
                                         contract and written document that truthfully reflects Mortgagor’s obligation of
                                         payment and purpose of loan; 

 

	n	Corresponding
                                         invoice or receipt. If the Mortgagor fails to obtain the aforementioned invoice or receipt
                                         upon payment, the Mortgagor should submit the invoice or receipt in time after payment.

 

	n	Legal and effective payment instrument.
	 	 	 
	n	Other	                                    

 

	(2)	Your
                                         bank is expected to transfer the principal of loan according to the amount below to the
                                         account of the transaction object after verification as agreed in the loans contract
                                         on DD-MM-YYYY.

 

	No.	Amount
    	Account
    name	Bank
    	Account
    No.
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

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		SPD BANK	Working Capital Loan Contract

 

2.
Self payment method of Mortgagor only:

 

	(1)	Our
                                         company has submitted the documents below in accordance with the loans contract to your
                                         bank:

 

	n	Commercial
                                         contract and written document that truthfully reflects Mortgagor’s obligation of
                                         payment and purpose of loan; 

 

	n	Statement
                                         of payment details: Payment Schedule

 

	n	Other	                      

 

3.
Entrusted payment method plus self payment method:

 

	(1)	Amount of entrusted payment in the fund to be withdrawn
is:; Amount of self payment in the fund to be withdrawn is:

 

	(2)	Our
                                         company has submitted the documents below in accordance with the loans contract to your
                                         bank:

 

	n	Commercial
                                         contract and written document that truthfully reflects Mortgagor’s obligation of
                                         payment and purpose of loan; 

 

	n	Corresponding
                                         invoice or receipt. If the Mortgagor fails to obtain the aforementioned invoice or receipt
                                         upon payment, the Mortgagor should submit the invoice or receipt in time after payment.

 

	n	Legal
                                         and effective payment instrument.

 

	n	Statement
                                         of payment details:

 

	n	Other	           

 

	(3)	Your
                                         bank is expected to transfer the amount of entrusted payment in the principal of loan
                                         to the account of transaction object below after verification as agreed in the loans
                                         contract.

 

Payment
details are as follows:

 

	No.	Amount
    	Account
    name	Bank
    	Account
    No.
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

Our
company hereby confirms that the payment method adopted for the aforementioned loans shall be subject to the one verified and
confirmed by your bank, and that your bank is entitled to verify and adjust payment method as agreed in the loans contract.

 

The
above is our application. Your approval is highly appreciated.

 

Applicant:                                     (official
seal)

Legal
representative or its authorized agent:Jiang Haitao(sealed)

Guangdong
CarHouse E-Commerce Technology Co., Ltd.(sealed)

June
10, 2019

 

	Zhang
                                         Congfeng (Signature)
	Chen Bairong
    (sealed)

The
official seal is confirmed as valid (sealed)

 

    20

     

    

 

		SPD BANK	Working Capital Loan Contract

 

Attachment
2:

 

Withdrawal
Application Form Under Liquidity Loans Contact 

(Applicable
to opening a special account for liquidity loans)

 

No.:                  

 

XX
Branch of Shanghai Pudong Development Bank,

 

Whereas
our company concluded Liquidity Loans Contract No.:XXXX (hereinafter referred to as “loans contract”) with
your bank on DD-MM-YYYY. In accordance with the withdrawal plan as agreed in the contact, our company wants to withdraw the _________
fund on DD-MM-YYYY, namely _________ only (in words) in ___________ (currency).

 

In
accordance with the stipulations in the loans contract, this fund should be paid to the special account for liquidity loans in
Shanghai Pudong Development Bank. Account name: _____________, and account No.: ________________.

 

Our
company hereby confirms that up to the date when the application form is submitted, there is no event or condition that constitutes
default event under the loans contract. Our company further confirms that all the commitments stipulated in the loans contract
have been followed while all the applicable preconditions stipulated in the contact have been met.

 

The
above is our application. Your approval is highly appreciated.

 

Applicant:                     (official
seal)

Legal
representative or its authorized agent:                          

(signature
or seal)                          

DD-MM-YYYY

 

    21

     

    

 

		SPD BANK	Working Capital Loan Contract

 

Attachment
3:

 

Demand
Note

(Applicable
to opening a special account for liquidity loans)

 

No.:                              

 

XX
Branch of Shanghai Pudong Development Bank,

 

Whereas
our company concluded Liquidity Loans Contract No.:XXXX (hereinafter referred to as “loans contract”) with
your bank on DD-MM-YYYY. In accordance with the supervision regulations on payment of the fund in the special account for liquidity
loans in the aforementioned contract, our company hereby applies to your bank for paying with the fund in the special account
for liquidity loans via the _______ method below.

 

4.
Entrusted payment method of Mortgagor:

 

	(3)	Our
                                         company has submitted the documents below as agreed in the loans contract to your bank:

 

	n	Commercial
                                         contract and written document that truthfully reflects Mortgagor’s obligation of
                                         payment and purpose of loan; 

 

	n	Corresponding
                                         invoice or receipt. If the Mortgagor fails to obtain the aforementioned invoice or receipt
                                         upon payment, the Mortgagor should submit the invoice or receipt in time after payment.

 

	n	Legal
                                         and effective payment instrument.

 

	n	Other	           

 

	(4)	Your
                                         bank is expected to transfer the principal of loan according to the amount below to the
                                         account of the transaction object after verification as agreed in the loans contract
                                         on DD-MM-YYYY.

 

	No.	Amount
    	Account
    name	Bank
    	Account
    No.
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

5.
Self payment method of Mortgagor:

 

	(2)	Our
                                         company has submitted the documents below in accordance with the loans contract to your
                                         bank:

  

	n	Commercial
                                         contract and written document that truthfully reflects Mortgagor’s obligation of
                                         payment and purpose of loan; 

 

	n	Other	           

 

Payment
details are as follows:

 

	 	Payment
    items (purpose)	Amount

        (RMB
        ten thousand Yuan)
	Payment
    date
	1	 	 	 
	2	 	 	 
	3	 	 	 
	4	 	 	 
	5	 	 	 
	6	 	 	 
	Amount
    in total:	 

 

	(3)	Your
                                         bank is expected to transfer the principal of loan according to the amount above to our
                                         general settlement account after verification as agreed in the loans contract.

 

The
above is our application. Your approval is highly appreciated.

 

 22Exhibit 10.8

 

Corporate Loan Receipt of Bank of Dongguan

 

Quintuplicate

 

4

 

Contract No.: D. Y. (0100) 2018 N. D. G. L.
D. Zi, No.: 022230

 

Receipt No.: 2018010000046455 November 5,
2018

	Name
    of Borrower	Guangdong
    CarHouse E-Commerce Technology Co., Ltd.	Loan-granting
    Account No.:	 	The
    sheet is kept by the borrower after being sealed by the bank.
	Settlement
    Account No.	**********************
	Amount
    of Loan	RMB
    (In capital words): RMB Five Million Yuan Only	Amount
	 	 	 	¥	5	0	0	0	0	0	0
	Level
    of Interest Rate Term	Six
    months to one year (including)	Benchmark
    Interest Rate (%)	4.35	Range
    of upwards / downwards floating (%)	60	Interest
    Rate Enforceable (%)	6.96
	Type
    of Interest Rate	Fixed
    Interest Rate	Adjustment
    Ways of Interest Rate	/	Ways
    of Repayment	Method
    of One-time Repayment once due	Period
    of Repayment	One-time
    Repayment once due	Period
    of Interest Settlement	Settle
    on a monthly basis
	Usage	Pay
    for the goods	Term
    of Loan	From
    November 7, 2018 to November 8, 2019
	 

        It has
        been approved to grant the above-mentioned loan and it has been transferred into your company’s account.

         

        With
        best regards,

         

         

        Institution:
        

        

        Bank’s
        seal: Bank of Dongguan Dongguan Branch – Business Finished (21) – November 9, 2018 (seal)

	Main
    person in charge of operation: (signature)		Person in charge: (signature)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

    1

     

    

 

Working Capital Loan Contract

 

(Version 2015)

 

Bank of Dongguan

 

    2

     

    

  

Please Kindly Note that 

 

I. In order to safeguard your interests,
please read the following precautions carefully before signing the Contract:

 

1. You’ve
carefully read all the terms and the conditions of the contracts and known their meaning;

 

2. You’ve
ascertained that the relevant certificates and information provided to the bank are authentic, valid, complete and legal;

 

3. 
You’ve ascertained that you yourself have the right to sign the contract, and also known the right that you will enjoy and
the obligations which you should assume after the contract is signed;

 

4. You’ve
confirmedly known that you should the legal and economic liabilities correspondingly for your any fraudulent and illegal acts;

 

5. You
will sign and perform the contract lawfully on a voluntary basis in the principles of honesty and good faith; and

 

6. Please
fill in what you need to complete neatly with a blue, black or sign pen.

 

II. If there are any questions in the contract,
please consult wit Bank of Dongguan Co., Ltd before signing the contract.

 

    3

     

    

 

Party A (Borrower): See Article 18 of the
contract.

 

Party B (Lender): See Article 18 of the
contract.

 

The contract is entered into by and between
Party A and Party B through negotiations in accordance with relevant laws, regulations and laws of the People’s Republic
of China in the principles of fairness, willingness, honesty and good faith.

 

Article 1 Amount of Loan See Article
20 of the contract for more information.

 

Article 2 Term of Loan See Article
21 of the contract for more information.

 

Article 3 Usage of Loan See Article
22 of the contract for more information.

 

Article 4 Interest Rate See Article
23 of the contract for more information.

 

Article 5 Granting of Loan 

 

I. Request Date of Utilization See
Article 24 of the contract for more information.

 

II. Conditions Precedent to the Granting
of Loan

 

Unless otherwise waived by Part B, Party
B has the obligation to grant a loan as long as all the following precedent conditions are met:

 

1. Party
A has carried out all the formalities of approval, registration, insurance, delivery for the loan under the contract as well as
all other legal formalities in accordance with the provisions of relevant laws, regulations and rules;

 

2. If
there are any securities under the contract, the security which has been in compliance with Party B’s requirements has been
valid and continuously effect;

 

3. There
is not any of the defaults stipulated by the contract occurring in Party A;

 

4. There
is not any material adverse event occurring in Party A and / or the Guarantor which may be sufficient to affect the safety of loan;

 

5. No
laws, regulations or rules nor no competent authorities can prohibit and restrict Party B to grant the loan under the contract;

 

6. The
relevant account has been opened as stipulated by the contract; and

 

7. For
any other conditions required by Party B, see Article 25 of the contract for more information.

 

III. Payment of Loan Fund

 

1. The
ways for loan fund payment under the contract is divided into the payment by Party B under entrustment and the payment by Party
A independently.

 

The payment by Party B under entrustment
refers to that, in accordance with the request of utilization made by Party A and the payment under entrustment, Party B pays the
loan fund to Party A’s transaction object which is in compliance with the usage of loan, via the bank settlement account
opened by Party A at Party B (for more specific information on the account, see Article 26 of the contract).

 

The payment by Party A independently refers
to that, in accordance with the request of utilization made by Party A and the payment under entrustment, Party B pays the loan
fund directly to Party A’s bank settlement account via which Party A pays it independently to Party A’s transaction
object which is in compliance with the usage of loan.

 

    4

     

    

  

2. For
the determination of payment ways, see Article 27 of the Contract for more information.

 

3. Party
B has, in its own sole discretion, the right to determine the ways of payment for the loan fund under the contract in accordance
with the laws, the rules and regulations, regulatory systems and internal rules and regulations as well as the relevant data provided
by Party A; and also has the right to adjust the payment conditions of loan fund, for which Party A has no objections.

 

4. Party
A should be regarded to successfully utilize it immediately once the loan fund is transferred into Party A’s settlement account,
and Party A should perform its obligation of repayment under the contract. Party A should be liable for any consequences arising
from the enforcement measures taken by the competent authority, including but not limited to frozen account and deduction after
the loan fund is transferred into Party A’s settlement account. Moreover, Party A is still obliged to perform the repayment
obligation of the principal together with the interest and should compensate Party B with all the losses arising there-from.

 

5. For
payment by Party B under entrustment, Party A should provide the transaction data including the power of attorney for payment and
commercial contract as required by Party B, while Party B should be responsible for reviewing the above-mentioned data and carries
out the formalities of granting the loan for Party B after being reviewing. otherwise, Party B has the right to refuse the granting
of loan.

 

6. The
review made by Party B for the above-mentioned data does not mean that Party B has confirmed the authenticity of Party A’s
transaction as well as its legality and compliance nor mean that Party B is required to assume the obligations and liabilities
for Party A due to Party B’s intervention into Party A and its transaction counter party or any third party’s dispute
or demand. Party B will not assume any liabilities for Party B’s failure to complete the payment under entrustment in time
due to the inauthenticity, inaccuracy or incompleteness of data provided by Party A, and Party A’s obligation of repayment
incurred under the contract will not in any way be affected.

 

7. Refund
See Article 28 of the contract for more information.

 

8. Party
A should not dispose of the loan fund paid under entrustment in any ways (including but not limited to transfer or appropriation).
All the risks, liabilities and losses arising from the failure to pay, the error in paying or delay in paying the loan fund due
to Party B’s mistake, should be wholly assumed by Party A. In addition, all the losses incurred by Party B should be compensated
by Party A.

 

9. Party
A should not violate the provisions of the contract in avoiding the payment by Party B under entrustment in the way of breaking
the whole into parts.

 

10. For
the payment by Party A independently, Party A should provide the relevant data including commercial contract, proving the authenticity
of transaction background. If Party A fails to provide prior to the granting of the loan due to some objective reasons, Party A
should supplement the above-mentioned data within 30 days after the granting of the loan with the consent of Party B.

 

11. For
payment obligation of independent payment, see Article 29 of the contract for more information.

 

    5

     

    

  

12. If
Party A faces the decrease in its credit status, its main business profitability, the abnormality in usage of loan fund or any
other illegal acts or has any of new regulatory requirements promulgated by the banking regulatory authority, both parties should
supplement the conditions for granting the loan and payment through negotiations or Party B directly stop granting and paying the
loan fund.

 

Article 6 Repayment

 

I. Principle of Repayment

 

Any repayment made by Party A under the
contract should be, firstly, used to discharge all kinds of expenses which should be assumed by Party A and have been advanced
by Party B, as well as the expenses arising from the realization of Party B’s creditors and guaranteed rights; and the remaining
of the repayment should be firstly discharged in accordance with the principle of paying the interest prior to the principal hereof.

 

II. Payment of Interest

 

Party A should pay the due interest to
Party B at the settlement date of interest. The first payment date of interest should be the first settlement date of interest
after the loan is granted. The interest, together with the principal of the loan should be paid off after the loan is due.

 

III. Ways of Payment See Article 30 of
the contract for more information.

 

IV. Repayment Account

 

Party A authorizes Party B to deduct the
amount repayable from the settlement account (that is, the repayment account. For the repayment account, see Article 31 of the
contract for more specific information) opened by Party A at Party B’s system. If the account for deduction under entrustment
is an account opened in the name of third person other than Party A, the third person should issued a signed power of attorney,
authorizing Party B to deduct the amount repayable of Party A from the account. Party A should deposit the amount repayable in
full into the repayment account prior to each repayment date of interest and principal. If the repayment account is frozen or suspended
payment, Party A should carry out the formalities of repayment at the counter of Party B without delay.

 

V. Account of Fund Withdrawal

 

Party A should, at the request of Party
B, designate the account of fund withdrawal (for the account of fund withdrawal, see Article 32 of the contract for more specific
information), Party B should conduct regulatory control over the account and have the right to deduct the amount repayable directly
from Party A, and Party A should, at the request of Party B, provide the information on the flow into and out of the account of
fund withdrawal.

 

Article 7 Repayment in Advance 

 

I. When Party A repays the interest in
advance, Party A should inform Party B of it.

 

II. When Party A repays the principal in
advance, such repayment should be in compliance with the provisions of Article 33 of the contract, Party A can fully or partially
repay the principal and the interest of the loan with the consent of Party B.

 

    6

     

    

  

For the principal repaid by Party A in
advance, the interest should be calculated at the number of days for its actual usage and the interest rate as stipulated by the
contract.

 

III. If Party A repays the loan in advance,
Party A should carry out the formalities for repayment at the business counter or other channel designated by Party B.

 

Article 8 Extension of the loan

 

If Party A requires to extend the loan,
such Extension should meet the provisions as stipulated in Article 34 of the contract. If the loan is extended with the review
and consent of Party B, the loan under the contract may be extended correspondingly only after the parties sign the relevant Extension
contract provided that a written opinion to continually provide the security is obtained from the guarantor. As the continual of
the contract, the formalities of change for insurance and guarantee should be carried out correspondingly as the request of Party
B.

 

If Party A fails to apply for such Extension
or such Extension applied does not obtain the approval, its loan should be dealt with in accordance with the provisions for overdue
loan as of the following day of its due date.

 

Article 9 Guarantee of Loan See
Article 35 of the contract for more information.

 

Article10 Party A’s representations
and warranties

 

I. Party A represents as follows:

 

1. Party
A is a duly registered and lawfully existing company and has the full capacity for civil rights and the capacity for conduct required
to sign and perform the contract.

 

2. Signing
and performance of the contract is the expression of Party A’s true meaning and to have obtained the legal and effective
authorization required in accordance with the Articles of Association or any other internal management documents. Moreover, such
signing and performance thereof will not breach any agreements, contracts and other legal documents which may be binding upon Party
A. Party A has obtained or will obtain all the approvals, permits, filing or registration required to sign and perform the contract.

 

3. All
the documents, financial statements, vouchers and any other data provided by Party A to Party B under the contract are true, complete,
accurate and effective.

 

4. The
transaction background applied by Party A to conduct businesses is true and lawful but not for any illegal purposes including money
laundering.

 

5. Party
A does not conceal to Party B any matters which may affect its or the guarantor’s financial status or capacity to perform
the contract; and

 

6. For
any other matters represented by Party A, see Article 36 (1) of the contract for more information.

 

II. Party A warranties as follows:

 

1. To
submit to Party B its financial statements (including but not limited to annual statement, quarterly statement and monthly statement),
as well as any other relevant data on a regular basis or in time at the request of Party B, and the financial statement s true,
accurate, complete and effective;

 

    7

     

    

  

2. To
provide to Party B all the documents and data relating to the loan at the request of Party B, actively cooperate with and assist
Party B in performing the contract and using such credit loan, provide all the information on inspection, investigation and supervision
of production operation, fund and financial activities as they are (including the information before and after the loan); undertake
to cooperate with Party B in managing and paying the loan, post-loan inspection and relevant inspection and management works based
on the methods of China Banking Regulatory Commission (CBRC) (or any other statutory financial regulatory authority) concerning
management of loans; and provide the borrower with the true information on payment and transfer of the loan;

 

3. Party
A warranties to pay the loan fund according to the contract rather than avoid the payment by Party B under entrustment via the
ways incl. breaking the whole into parts. At the same time, Party A warranties to accept and actively cooperate with Party B in
managing and monitoring all kind of accounts as stipulated in the contract. When Party B finds any abnormal changes in the flow
of fund out of the above-mentioned accounts, Party B has the right to ask Party A to explain and Party A should warranty to provide
relevant written explanations within two (2) working days after Party B provides such requirements. If there is any abnormal conditions
in Party A’s fund withdrawal which may affect the source of repayment, Party B has the right to decide unilaterally whether
to take back the loan in advance.

 

4. Party
A warranties to provide the relevant accurate documents and data involving the loan fund at the request of Party B in time when
applying for the utilization according to the contract. If Party A breaks the contract in making the payment to its transaction
counter party or Party B suffers from any losses due to Party A’s failure to provide the above-mentioned data or the provision
of any false data, Party A should all the liabilities arising there-from and compensate Party B with such losses.

 

5. If
Party A has entered into or will enter into a counter guarantee agreement or similar agreement with the guarantor under the contract
in respect of the obligations warranted by it. The agreement will not prejudice any of Party B’s rights under the contract;

 

6. If
Party A changes its legal representative (person in charge), address or business address, Party A should inform Party B of such
change in written form in advance. If there are any other conditions occurring which may affect Party A or the guarantor’s
financial status and the capability to perform the contract, including but not limited to close down, suspension of business, dissolution,
revocation, (applied) application for bankruptcy, guaranty seized, major lawsuit involved or arbitration case or the person in
charge involved in any illegal criminal activities, or difficulties in its operation or becoming worse in financial status or Party
A may have any event of default under any other contract, Party A should inform Party B of that in written form immediately.

 

7. If
there are any conditions occurring that may affect Party A or the guarantor’s financial status and the capability to perform
the contract, including but not limited to any kinds of changes in any form such as merger (acquisition), joint operation, joint
venture, cooperation, contracting, leasing, reorganization, restructuring, mode of business including the plan for listing, decrease
in registered capital, equity transfer, shareholding reform; external investment, sales, donation, leasing, lending, transfer,
mortgage, pledge or otherwise disposal of major assets, whole or partial assets; undertake major liabilities, substantially increase
of debt financing, or new major liabilities created for the guaranty, Party A should obtain the approval from Party B in advance.

 

    8

     

    

  

8. Party
A warranties that its production operation as well as its relevant acts will comply with relevant provisions, including but not
limited to industry policies, fiscal taxation policies, market access, environmental assessment, energy-saving and emission reduction,
energy consumption and pollution control, resource utilization, land and urban planning as well as labor safety. If Party A breaches
one of the above-mentioned or there are any of the above-mentioned risks occurs, Party A agrees that Party B has the right to take
the measures including the suspension of granting the loan, taking back the loan in advance, disposal of / pledging of he property
in advance, Party A’s addition or consumption of energy or pollution;

 

9. The
order of Party A discharging Party B’s debt should be precedent over its loan from Party A’s shareholder and not lower
than the debts similar to other creditors;

 

10. Party
A should not dispose of its own assets by lowering its own capability to discharge the loan and undertakes that the total amount
guaranteed externally and the amount guaranteed separately should not exceed the limits as stipulated by its Articles of Association;

 

11. Party
A warranties to Party B that it will repay the principal of the loan together with the interest on schedule, and assume and pay
all the relevant expenses arising from the conclusion of the contract, performance of the contract and settle of the disputes,
including but not limited to notarization fee, assessment fee and counsel fee as well as the litigation costs, execution fees and
attorney’s fees arising from the realization of creditor’s rights; and

 

12. For
any other matters undertaken by Party A, see Article 36 (2) of the contract for more information.

 

Article 11 Default and Disposal

 

I. Expected Default and Disposal

 

If Party B has any conclusive evidences
proving that Party A has one of following conditions before granting the loan under the contract, Party B may stop performing the
contract:

 

1. Party
A’s business conditions has become seriously deteriorated;

 

2. Party
A has transferred its property or secretly withdrawn its fund to avoid its credits;

 

3. Party
A (including its legal representative) has lost its commercial reputation or is facing major lawsuit and / or arbitration;

 

4. Any
other conditions which have lost or may lose its capacity to perform its obligation of repayment.

 

If Party A fails to restore its capacity
to perform its obligation of repayment and also fails to provide Party B with any proper guarantee within 30 days after Party B
stops performing its obligation, Party B may terminate the contract.

 

II. Party A’s Event of Default
and Disposal

 

1. If
there is one of following matters, Party A should constitute or be regarded as Party A’s event of default under the contract.

 

    9

     

    

  

(1) Party
A fails to perform the payment and settlement obligation to Party B in accordance with the loan agreement;

 

(2) Party
A fails to use the obtained fund for the agreed purpose or the withdrawal of funs fails to meet the agreements;

 

(3) Party
A fails to the loan fund according to the contract or avoid the payment by Party B under entrustment via the ways of breaking the
whole into parts;

 

(4) Party
A breaches its representation and warranties;

 

(5) Even
if any condition occurred under the contract may, in the opinion of Party B, affect Party A or the guarantor’s financial
status or the capability to perform the obligations under the contract, but Party A fails to provide a new guarantee and replace
the guarantor as required ;

 

(6) Party
A and the guarantor have any event of default and other event of cross event under any other contract made by and between Party
B or other institution of Bank of Dongguan Co., Ltd.;

 

(7) Party
A fails to make any written statement on the abnormal change of fund flow in the relevant accounts under the contract within the
prescribed deadline;

 

(8) Party
A fails to provide any data and documents related to the loan and the loan fund as they are;

 

(9) Party
A terminates its business or the event of dissolution, revocation or bankruptcy occurs;

 

(10) 
other conditions including the conditions of Party A’s business has deteriorated seriously; Party A transfers its property,
or withdraw its fund to avoid its debts; Party A (including its legal representative) has lost its commercial reputation or is
facing major lawsuits or arbitration; has lost or may lose its capacity to perform the obligation of repayment;

 

(11) 
If the guarantor violates any provisions in the guarantee contract, Party B believes in its own discretion that such violation
is sufficient to endanger the realization of the creditor’s rights under the contract;

 

(12) 
Party A is punished by the relevant government departments due to its poor environmental and social risk management; Party A is
strongly questioned by the public and / or media for its poor environmental and social risk management; any other events of default
including the event of cross defaults as agreed by Party A and Party B in environmental and social risk management; and any reasonable
statements, guarantees and commitments made by Party A regarding environmental and social risk management have not been seriously
fulfilled; and

 

(13) 
other conditions which may, in the opinion of Party B, endanger the safety of other creditor’s rights.

 

2. In
the event that a breach of contract as stipulated in the preceding paragraph occurs, Party B has the right to take the following
measures separately or at the same time depending on the specific situation:

 

(1) To
change the ways of paying its loan fund;

 

(2) To
require Party A and the guarantor to correct their breach of contract within a time limit;

 

(3) To
wholly or partially adjust or reduce, suspend or terminate the limit of Party A’s granting credit;

 

    10

     

    

  

(4) To
wholly or partially suspend or terminate the acceptance of Party A’s application for such businesses including the utilization
under other contracts made by and between Party A and Party B; and to wholly or partially suspend or terminate issuing or carrying
out the formalities of granting credit which has not approved;

 

(5) To
announce the outstanding granting credit and other accounts payable under any other contract by and between Party A and Party B
wholly or partially due immediately;

 

(6) 
To terminate of business or dissolution, cancellation or bankruptcy of Party A ;

 

(7) To
ask Party A to compensate Party B for any losses caused by its breach of contract;

 

(8) 
Only with prior subsequent notice, Party A can deduct the amount from the account opened by Party A at Party B and other institution
of Bank of Dongguan Co., Ltd., in order to wholly or partially discharge Party A’s debts owed to Party B under the contract.
Any undue accounts should be considered to be due earlier. If the account currency is different from the valuation currency for
granting credit of the specific credit business under the contract, when the valuation currency for granting credit of the specific
credit business under the contract is the same currency as the account currency but falls into different currency, the valuation
currency of the specific credit business under the contract should be converted according to the spot exchange rate promulgated
by Party B at any time point of the day when the amount is deducted. When the valuation currency of the specific credit business
under the contract is a kind of foreign currency but the account currency is RMB, the valuation currency of the specific credit
business under the contract should be converted according to the selling price of spot exchange promulgated by Party B at any time
point of the day when the amount is deducted. When the valuation currency of the specific credit business under the contract is
RMB but the account currency is a kind of foreign currency, the valuation currency of the specific credit business under the contract
should be converted according to the buying price of spot exchange promulgated by Party B at any time point of the day when the
amount is deducted;

 

(9) To
exercise the right of guaranty;

 

(10) 
To ask the guarantor to assume the responsibility for guarantee;

 

(11) 
To adopt the stricter payment management means or methods than before; include it and its major associated parties into the key
monitoring scope of payment; list it into the backlist and submit it to the regulatory authority and the credit-granting organism;
and

 

(12) 
other measures taken which Party B thinks it necessary or possible.

 

III. If Party B is unable to perform the
contract to grant the loan due to any changes in national credit policies after Party B and Party A have entered into the contract,
Party B should not be regarded as a breach of contract.

 

Article 12 Reservation of Rights

 

During the performance of the contract,
if Party A delays performing its obligations under the contractual, or if Party B imposes any tolerance or grace on any breach
or delay of Party A, it should not impair, affect, or restrict all the rights which Party B should enjoy in accordance with the
contract and the laws, regulations and rules and Party B should be regarded to have permitted or given acquiescence for any default
acts nor to have waived the right to take any actions against Party A’s current or future breach of contract.

 

    11

     

    

  

Article 13 Information Protection and
Exceptions

 

I. Party B should properly take care of
Party A’s information, financial information and other relevant materials submitted by Party A in performing its obligations
under the contract, in order to ensure that it will not be illegally tampered with, abused, sold or used unless otherwise stipulated
by other laws, regulations and rules or disclosed by Party B to any third party in accordance with the contract.

 

II. Party B has the right to provide the
information on the contract and other relevant information to the People’s Bank of China Credit Information Basic Database
or any other legally established credit databases in accordance with the relevant laws, regulations and rules or to the regulatory
documents or the requirements of financial regulatory authorities, in order to be inquired and used by the appropriately qualified
institutions or the individuals. Party B also has the right to enquire about the relevant information on Party A through the People’s
Bank of China Credit Information Basic Database or any other legally established credit databases, for the purposes of the conclusion
and performance of the contract.

 

III. Party B may disclose to any potential
assignee or any other person who may make a contract with Party B the relevant information on Party A as Party B may think appropriate
for the contract.

 

Article 14 notarization

 

If any party to the contract asks for notarization,
the contract should be notarized at a notary office stipulated by the state, and the notarial fees should be borne by Party A.

 

both parties A and B agree and confirm
that, the contract will become an enforceable creditor’s right instrument once notarized by a notary office. When Party A
fails to pay off the principal and interest of the debt owed to Party B on schedule and any other expenses payable or breaches
the obligations under the contract, Party B has the right to apply for enforcement to the people’s court with jurisdiction,
and Party A agrees to accept the enforcement unconditionally, and renounces its right of defense.

 

Article 15 Party A and Party B undertake
that, in order to reach and / or perform the contract, its and its related director, senior executives, employees, agents or consultants
have never violated and will not violate any relevant laws, regulations and rules as well as the disciplinary inspection requirements
nor provide any payment or transfer of value directly or indirectly to any governmental official, other party to the contract,
any relevant third party and its associated persons, including director, supervisor, senior executives, employees, agents or consultants
of its associated party; and the payment or transfer of such value has a commercial bribery, accepts or has an acquiescence of
kickbacks or achieves some purpose in any other illegal or improper ways or has an influential effect, including but not limited
to monetary funds, tangible / intangible assets, services , employment, business opportunities, etc.

 

Party A and Party B confirm that, if a
party suffers from any damages due to other party’s violation of the foregoing provisions, the party should assume the corresponding
liabilities for its breach of contract. If such breach constitutes a crime, it will be transferred to the judicial authority.

 

    12

     

    

  

If Party A and its working staff find that
Party B’s working staff violates the regulations in carrying out the business and misleads the customer in the course of
business, holds back without permission or keeps such important information and items including the customers’ password and
bank card, ID card, handbook, real estate certificate and so on; receives from the customers and asks for any commercial briberies
including the rebates from any customer, intermediary fees, service fees and other property in private while acting for the customers
in managing wealth, funds and stock transactions in violation of the rules; asks the customers to provide any benefits or any conveniences
to their specific related persons, embezzles and misappropriates the customers’ funds, property and does any other acts to
violate the honest disciplines, Party A should promptly report or complain it to Party B. Party A can make feedback or complaints
to Party B through any of the following channels: (1) 24-hour service hotline: 40011- 96228; (2) email for online complaint: hzbgs@dongguanbank.cn;
and (3) address for letter complaint: Department of Supervision, Bank of Dongguan, No. 21 Tiyu Road, Dongguan City, Guangdong Province.

 

Article 16 Effectiveness of Contract,
Change, Cancellation and Termination 

 

I. The contract should take effect as of
the date when both parties sign or seal the contract respectively, till the principal of the creditor’s rights under the
contract, the interest, default interest, compound interest, compensations, the cost required to realize the creditor’s rights
and all other fees payable under the contract have been wholly discharged.

 

II. The invalidity or unenforceability
of any clause hereof will not affect the validity and enforceability of any other clauses nor impair the effectiveness of the entire
contract.

 

III. After the contract becomes effective,
neither Party A nor Party B can change or terminate the contract ahead of time without authorization.

 

The contract can be changed or amended
in written form with negotiations of both parties. Any change or amendment will constitute an integral part of the contract.

 

IV. The change and dissolution of the contract
will not affect the rights of both parties to claim damages, nor affect the effectiveness of the contract relating to the provisions
of dispute settlement.

 

Article 17 Special Prompts

 

Party B should take reasonable measures
to remind Party A of paying more attention to exception clauses or restriction clauses under the contract, and make full explanation
to the relevant clauses at the request of Party A. both Party A and Party B have no objection to the understanding of all the contents
of the contract.

 

【For any other clauses, see the printed
(completed) clauses for more information】

 

    13

     

    

 

The Printed (Completed) Clauses of Working
Capital Loan Contract

 

Contract No .: D. Y. (0100) 2018 N.
D. G. L. D. Zi, No. 022230

 

Article 18 The parties to the contract
are as follows:

 

Party A (borrower): Guangdong CarHouse
E-Commerce Technology Co., Ltd.

 

Address: Rm. 4801-4810, Taishang Building,
No. 11 Dongguan Avenue, Huolianshu Community, Dongcheng District, Dongguan City

 

Legal Representative / Person in charge:
Jiang Haitao Title: Legal representative

 

Business License No.: 91441900764929776P

 

Party B (Lender): ​​Bank
of Dongguan Co., Ltd. Zhongxinqu Branch

 

Address: 1F, Non-governmental Finance
Building, No. 111 Guantai Road, Nancheng District, Dongguan City 

 

Legal Representative / Person in charge:
Wu Xuefeng Title: Person in charge

 

Tel.: ******** Fax: ***********
Postal Code: 523000

 

Article 19 Place of Signing: Nancheng
District, Dongguan City

 

Article 20 Amount of Loan

 

Party B has, at the request of Party A,
agreed to grant the following loan to Party A: Currency: RMB; Amount: (in capital words) RMB Five million Yuan only (in
figures) ¥5, 000, 000. 00.

 

Article 21 Term of Loan

 

The period of loan will be valid from November
5, 2018 to November 4, 2019.

 

The information on actual term of loan,
date of granting loan, amount of loan and interest rate of loan should be subject to the contents recorded in the transfer and
deposit voucher of the loan under the contract (the receipt for the loan, the same below), to which Party A has no objection. The
contract may correspond to multiple receipts of the loan.

 

Article 22 Usage of Loan

 

The loan under the contract is used only
to pay for the goods.

 

The working capital loan under the contract
should not be used for investment in fixed assets and / or equity, etc. nor used for the fields and usages of production and operation
prohibited by the State. Party A should provide the information such as commercial contracts that can prove the usage of the loan.
Party A should not change the usage of the loan without the written consent of Party B.

 

Article 23 Interest Rate

 

I. Interest Rate of Loan

 

The interest rate of the loan under the
contract is the annual interest rate.

 

The conversion formula for the interest
rate of Hong Kong dollar and British pound: monthly interest rate = annual interest rate / 12, and daily interest rate = annual
interest rate / 365.

 

The conversion formula for the interest
rate of any other currency: monthly interest rate = annual interest rate / 12, and daily interest rate =annual interest rate /
360.

 

The interest rate of loan under the contract
is the 1st one of the following interest rates:

 

1.The fixed interest rate, that is, 6.96%,
the interest rate remains unchanged during the term of the loan;

 

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2. The adjustable interest rate, that is,
/ % (upwards/ downwards) floating on the basis of / (benchmark interest rate / LIBOR / HIBOR) , plus / minus /
base point (1 base point = 0.01%). When the benchmark interest rate / LIBOR / HIBOR changes, Party B may adjust the benchmark
interest rate of the same grade in the new same term as the original floating range, and the difference point according to the
provisions under the contract. Party B will not notify Party A and the guarantor of such adjustment separately. The first one
of the following methods is adopted to determine the adjustment method of interest rate for the loan:

 

(1) Adjustment of daily interest rate corresponding
to value date

 

The interest rate will be adjusted every
/ (1/3/6/12) months as of the value date. The date of interest rate adjustment is the date corresponding to the first date
of interest rate adjustment in the adjustment month. If there is not a date corresponding to the first date of interest rate adjustment
in the adjustment month, the last day of the adjustment month is the date of interest rate adjustment.

 

(2) Adjustment of fixed daily interest
rate

 

As of the value date, the first date of
interest rate adjustment will be determined as the / day of the first / month after the loan is granted, and the
interest rate will be adjusted every / (1/3/6/12) months after the first date of interest rate adjustment. The date of interest
rate adjustment is the date corresponding to the first date of interest rate adjustment in the adjustment month. If there is not
a date corresponding to the first date of interest rate adjustment in the adjustment month, the last day of the adjustment month
is the date of interest rate adjustment.

 

3. The floating interest rate, that is,
/ % (upwards/ downwards) floating on the basis of benchmark interest rate / LIBOR / HIBOR, plus / minus / base point
(1 base point = 0.01%), the interest rate of the loan will vary together with the change of benchmark interest rate. The date of
interest rate adjustment is referred to as the date of benchmark interest rate adjustment and Party B will not notify Party A and
the guarantor of it separately.

 

4. Others: / .

 

II. Default Interest

 

The default interest rate under the contract
is the annual interest rate.

 

1. If
Party A fails to use the loan according to the usages agreed under the contract, the default interest should be charged for the
part of the loan used in violation of the contract during the period of default at the applicable interest rate for the loan at
that time plus 100%.

 

2. If
Party A fails to repay the loan on schedule or perform the obligation of repayment under the contract, the default interest should
be charged for the overdue loan during the overdue period at the applicable interest rate for the loan at that time plus 50%.

 

3. If
Party A fails to use the loan in accordance with the usages agreed in the contract or does not repay the loan on schedule, it should
be punished severely.

 

    15

     

    

  

III. The so-called benchmark interest rate
under the contract refers to the interest rate of the loan with the same term promulgated by the People’s Bank of China on
the value date; thereafter, when the interest rate of loan or the default interest rate is adjusted in accordance with the foregoing
provisions of the contract, the benchmark interest rate is the interest rate of the loan with the same term promulgated by the
People’s Bank of China at the same day as the adjustment date; if the People’s Bank of China does not promulgate the
interest rate for the loan wit the same term any longer, the benchmark interest rate refers to the interest rate of the loan with
the same term publicly recognized by the interbank or promulgated by Party B on the date of interest rate adjustment, unless otherwise
agreed by both parties.

 

Libor refers to the London interbank offered
rate while Hibor refers to the Hong Kong interbank offered rate.

 

IV. The interest for the loan should be
calculated from the date when the loan is transferred to Party A’s account. The interest for the loan under the contract
should be calculated on a daily basis. If Party A is unable to pay the interest on schedule, the compound interest should be calculated
and collected from the following day on. For the interest that Party A does not pay on schedule (including the interest corresponding
to the principal of the loan wholly or partially due announced by Party B in advance, and the default interest, the compound interest
should be calculated from the overdue date to the date when all the amounts are fully discharged.

 

V. Settlement of Interest

 

1. When
the benchmark interest rate changes, Party B may adjust it according to the adjustment ways of interest rate agreed under the contract,
the new benchmark interest rate for the loan with the same term and the original floating range and will not inform Party A of
it any longer. If the interest rate of the loan is adjusted in the same interest period, the interest will not be calculated by
segments;

 

2. The
interest for the loan under the contract should be settled on a monthly basis and the date of interest settlement should be the
20th day of every month; and

 

3. For
the one-off repayment of principal and interest, the date of repayment of principal and interest should be the settlement date.

 

VI. If Party A violates any provision or
commitment under the contract, Party B has the right to adjust the floating range of interest rate for the loan as 100%
upwards floating of benchmark interest rate (of benchmark interest rate / LIBOR / HIBOR), plus / minus / base point
(1 base point = 0.01%). The floating range of adjusted interest rate will no longer be adjusted.

 

VII. During the validity period of the
contract, if the State implements the control over and intervention in the interest rate of loan, the method of benchmark interest
rate determination, the method of interest rate calculation and settlement and the floating range of interest rate, it is necessary
for Party B to adjust the above-mentioned provisions of the contract without further consent of Party A, that is, Party B can modify
the provisions of the contract concerning the interest rate in accordance with the latest national regulations promulgated by the
State.

 

VIII. The interest as stipulated in the
contract includes VAT, and the VAT rate is 6%.

 

Article 24 Application Date of Utilization

 

Party A’s first application date
of utilization must be no later than May 4, 2019; and its last application date of utilization must not later than November
4, 2020.

 

Article 25 In addition to meeting
the requirements as stipulated in Article 5 (2) hereof, it must be also meet the provisions as stipulated in current clause: .

 

    16

     

    

  

Article 26 Party B is entrusted
to pay the loan funds via the bank settlement account opened by Party A at Party B (account name: Guangdong CarHouse E-Commerce
Technology Co., Ltd. and account No.: **************).

 

Article 27 Determination of Payment
Method

 

I. If any of the following conditions is
met, the method of payment by Party B under entrustment should be adopted.

 

1. Where
the payment object is clear and the amount of single payment is more than RMB 10,000.00 (including);

 

2. Where
the payment object is clear and the amount of single payment exceeds 1 % of the loan amount (including) under the contract;

 

3. 
Payment of full amount under entrustment.

 

II. If any of the following conditions
is not met, the method of payment by Party A independently may be adopted with the consent of Party B.

 

Article 28 Refund

 

If the method of payment by Party B under
entrustment is adopted, and the refund occurs in the opening bank of Party A’s transaction counter party so that Party B
cannot successfully pay the loan fund in time at the entrustment of Party A, Party B will not assume any liabilities for that and
Party A’s obligation of repayment which has generated under the contract will not be affected any more. For the refunded
amount, Party A should resubmit the power of payment attorney and relevant documents within 1 bank working day after receiving
such refund notice.

 

Article 29 Reporting Obligations of
Independent Payment

 

If the payment by Party A makes independently
is adopted, the information on the payment of loan fund should be summarized and reported to Party B within / days (in the
end of current month / current quarter) after such independent payment is made and the relevant data documents, including but not
limited to bank statement and payment voucher, should be also submitted as required by Party B.

 

Article 30 Method of Repayment

 

If the loan under the contract is a medium-
and long-term loan, Party A should repay Party B’s loan by installments, at least once every six months.

 

1. The
above-mentioned loan should be repaid according to the 3rd one of the following methods:

 

(1) Repayment
method of equal principal and interest;

 

(2) Repayment
method of equal principal;

 

(3) One-time
repayment of principal and the payment of interest by installments on maturity; and

 

(4) One-time
repayment of principal and interest on maturity; and

 

(5) other
method of repayment: / .

 

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2. If the repayment method of equal principal
and interest, the repayment method of equal principal or one-time repayment of principal and the payment of interest by installments
on maturity is adopted, Party A should repay the principal and interest of the loan by installments on a monthly basis (monthly
/ quarterly / semi-annual / yearly) since the loan is granted. There are 12 installments for the loan and the 20th
day of every month (monthly / quarterly / semi-annual / yearly) is the repayment date. If the granting date does not correspond
to the repayment date, the amount at the first installment and the last installment should be calculated according to the number
of actual days.

 

If Party A needs to change the repayment
plan, Party A should apply it to Party B 30 bank working days prior to the date of interest settlement or the expiration of the
loan and such change of repayment plan should be confirmed by both parties in written form.

 

Article 31 Repayment Account

 

The information on the account of repayment
settlement as stipulated in Article 6 (4) is detailed as follows: Account name: Guangdong CarHouse E-Commerce Technology Co.,
Ltd. and account No.: ****************).

 

Article 32 Account of Fund Withdrawal

 

The information on the account of fund
withdrawal as stipulated in Article 6 (5) is detailed as follows: Account name: Guangdong CarHouse E-Commerce Technology Co.,
Ltd., account No.: **************** and opening bank: Bank of Dongguan).

 

Article 33 If Party A repays the
principal in advance, it must submit a written application to Party B 30 bank working days in advance.

 

Article 34 Loan Extension

 

If Party A requires the loan to be extended,
it should submit a written application to Party B 60 days before the loan under the contract is due.

 

Article 35 Loan Guarantee

 

I. For the debts owed by Party A to Party
B under the contract, Party A and Party B agree that the following guarantee method should be adopted for the loan: (1) Guarantee
Contract for Maximum Amount (Contract No.: D. Y. (0100) 2018 N. Z. G. B. Zi, No.: 027027 ); (2) Guarantee Contract for Maximum
Amount (Contract No.: D. Y. (0100) 2018 N. Z. G. B. Zi, No.: 027030 ); (3) Mortgage Contract for Maximum Amount (Contract
No.: D. Y. (0100) 2015 N. Z. G. D. Zi, No.: 023023) and (4) Mortgage Contract for Maximum Amount (Contract No.: D. Y.
(0100) 2015 N. Z. G. D. Zi, No.: 023021), as well as any other guarantee ways as stipulated in the relevant guarantee contracts.

 

II. If Party A or the guarantor has an
event which may, in the opinion of Party B, affect its ability to perform the contract, or the guarantee contract becomes invalid,
canceled or revoked, or the economic conditions of Party A or the guarantor becomes worse or Party A or the guarantor is involved
in a major lawsuit or arbitration, or its ability to perform the contract may be affected due to other reason, or the guarantor
has any default under the guarantee contract or any other contract signed with Party B, or the guaranteed property is depreciated,
damaged, lost or closed down, so as that the guaranteed value weakens or is lost, Party b has the right to ask and Party A has
the obligation to provide a new guarantee, replace the guarantor take back the loan in advance.

 

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Article 36. other Matters Represented
and Warrantied by Party A

 

In addition to the representations made
for the matters as stipulated in Article 10 (1) hereof, Party A should also make the representations as follows:

 

/_________________________________________________________________________ 

 

__________________________________________________________________________ 

 

In addition to the warranties made for
the matters as stipulated in Article 10 (2) hereof, Party A should also make the warranties as follows:

 

/_________________________________________________________________________ 

 

__________________________________________________________________________ 

 

☒ (This is an optional clause. If
applicable, tick √ in the □; if not applicable, tick X in the □ ) Party A represents and warrants that there
are no major lawsuits related to environmental and social risks; undertakes to comply with all the codes of conduct and performance
compliance in respect to environmental and social risks; undertakes to establish and perfect a sound internal management system
for the environmental and social risk; stipulates in details the responsibilities. Obligations and punishment measures for the
relevant responsible personnel; undertakes to establish and perfect an emergency response mechanism and take measures for environmental
and social risks ; undertake to set up special departments and / or designate specialized personnel to take the charge in environmental
and social risk matters; undertakes to cooperate with Party B or any third party recognized by it in assessing and inspecting the
borrower’ s environmental and social risks; undertakes to make appropriate response or take other necessary actions in face
of strong doubts about the performance of the public or other stakeholders in controlling environmental and social risks; undertakes
to urge any vital associated parties to strengthen management, thus preventing from the infection of environmental and social risks
of associated parties; and undertakes to perform any other matters which may, in the opinion of Party B, be associated with the
control of environmental and social risks.

 

Article 37 ☒ (This is an optional
clause. If applicable, tick √ in the □; if not applicable, tick X in the □) Party A should fully report to Party
B all relevant conditions immediately: all kinds of permits, approvals, and approvals related to environmental and social risks
during the process of construction, construction, operation and shutdown; the assessment and inspection made by the environmental
and social risks by the environmental and social risk regulatory authority or the institution recognized by it to Party A’s
environmental and social risks; supporting construction and operating conditions of environmental facilities; discharge and compliance
of pollutants; the safety and health of employees; major complaints and protests from neighboring communities against Party A;
major environmental and social claims; and any other major conditions that may, in the opinion of Party B, be associated with environmental
and social risks.

 

Article 38 ☒Disclosures for
the related transactions made within the group to which Party A is affiliated. (This is an optional clause. If applicable, tick
√ in the □; if not applicable, tick X in the □)

 

I. Party A falls into the group customers
recognized by Party B in accordance with the Guidelines of Commercial Banks for the Risk Management of Group Customer Credit-granting
Business. Party A should report to Party B the conditions of any related transaction that accounts for more than 10% of Party A’s
net assets, including but not limited to:

 

1. The
relationship between the parties to the transaction;

 

    19

     

    

  

2. The
transaction item and the nature of transaction;

 

3. The
amount of the transaction or the corresponding proportion; and

 

4. Pricing
policies (including transactions without amounts or only with a symbolic amount).

 

II. If Party A has one of the following
circumstances, Party B has the right to unilaterally decide to stop paying Party A the loan which has not been used yet, recover
the principal and interest of loan wholly or partially in advance and take other measures according to law:

 

1. To
provide any false materials or conceal important operating and financial facts;

 

2. To
change the original usage of the loan without the consent of Party B, misappropriate the loan or engage in illegal transactions
or illegal trading by making use of bank loans;

 

3. To
discount, pledge or cash out any bank fund or granting-credits by making use of false contracts with related parties or the creditor’s
rights including bills receivables and accounts receivable which have no real trading backgrounds;

 

4. To
refuse to accept Party B’s supervision and inspection to the usage conditions of its credit fund and relevant operating and
financial activities;

 

5. To
have any major merger, acquisition and / or reorganization, etc. which may, in the opinion of Party B, affect the safety of loan;

 

6. 
To intentionally evade the claims from the bank through related transactions; and

 

7. other
major defaults determined by Party B.

 

Article 39 Party A does not use
the funds received for the agreed purpose, and the conditions of fund withdrawal does not meet the agreement or the financial indicators
agreed by Party A:   /  .

 

Article 40 Applicable Law and Resolution
of Dispute

 

I. The conclusion of the contract, effectiveness,
interpretation, performance and dispute resolution should be applicable to the Laws of the People’s Republic of China.

 

II. Any dispute arising from the performance
of the contract should be firstly settled by Party A and Party B through negotiations; if such negotiation fails, it may be settled
through the 1st one of following methods:

 

1. To
file a lawsuit to the People’s Court where Party B is located or apply for enforcement;

 

2. To
file a lawsuit to the place where the contract is signed or apply for enforcement;

 

3. Through
the ways of arbitration, submit it to   /  (filled in with the name of the Arbitration Committee) for □public trial □
written trial; if a written trial is selected, the trial should be conducted by a sole arbitrator.

 

4.Others:   / ____________________________________________________________________

 

If the dispute does not affect the performance
of other terms and conditions under the contract during the period of dispute resolution, the other terms and conditions hereof
should be continually performed.

 

Article 41 Supplementary Rules

 

I. Following annexes and any other annexes
jointly confirmed by both parties will form an integral part of the contract and have the same legal effect as the contract:

 

1. Application
of Utilization \ Application of Credit-granting Limit;

 

2. Power
of Payment Attorney (if any);

 

3. Loan
receipts or vouches or other creditor’s rights and debt certificates; and

 

    20

     

    

  

4. /____________________________________________________________________

 

II. Party A hereby confirms that all the
documents including notices, instruments and letters issued by Party B, the judiciary or arbitration authority to Party A, including
but not limited to the instruments for the first instance, second instance, retrial, enforcement procedures and arbitration as
well as the letter sent by Party B to Party A for debt calls and / or the notice announcing that the loan is due ahead of time,
may be sent by registered mail, facsimile, by courier or in any other form of communication. The relevant documents should be sent
to the address as follows:

 

Party A’s address: Rm. 4801-4810,
Taishang Building, No. 11 Dongguan Avenue, Huolianshu Community, Dongcheng District, Dongguan City

 

Attention: Jiang Haitao Postal Code:
523000

 

Tel.: *********** Fax: /                                       

 

If there is any change in the above-mentioned
matters, the related party should notify Party B of it in written form within 5 days after such change. otherwise, the documents
including various kinds of notices and letters which are addressed to the above-mentioned address should be deemed to have been
served.

 

If Party A cannot receive the legal instruments
due to the inaccurate service address confirmed by Party A, or failure to inform Party B of the changed service address for confirmation
according to the procedures or the condition that Party A or its designated recipient refuses to sign and receive it, Party A should
solely assume any legal consequences arising from such ineffective service. If served by mail, the date on which the document is
returned should be deemed as the date of service; if it is served directly by a court or the arbitration authority, the date on
which the person states the situation on the service certificate should be deemed as the date of service; if the service is served
directly by Party B’s working personnel, the date when the relevant information on the recipient’s address are recorded
should be deemed as the date of service; and if sent by fax, the date indicated in the successful receipt should be deemed as the
date of service .

 

III. If Party B needs to entrust any other
institution of Bank of Dongguan Co., Ltd. to perform its rights and obligations under the contract due to business needs, or assign
the credit-granting business under the contract to any other institution of Bank of Dongguan Co., Ltd. to undertake and manage,
to which Party A expresses its consent. The other institution of Bank of Dongguan Co., Ltd. authorized by Party B, or the other
institutions of Bank of Dongguan Co., Ltd. that undertakes and manages the credit-granting business under the contract should have
the right to exercise all the rights under the contract, and also have the right to lodge a lawsuits to the court or submit an
arbitral award or apply for enforcement with respect to disputes under the contract in the name of the institution .

 

IV. The contract is made in duplicate,
one of which should be kept by Party A and Party B respectively, and / by the relevant registration department
for filing, and which will have the same legal effect.

 

    21

     

    

  

Article 42 other Provisions (if
the blank space is insufficient, additional pages may be added)

 

I. Party A should use the settlement
account opened at Party B as its major bank settlement account, so that the sales proceeds formed by Party B’s credit-granting
funds must be withdrawn to the account and be subject to Party B’s supervision; Party A should not make any external mortgages
(pledges) over its core assets including machinery equipment, inventory and the accounts receivables without the written consent
of Party B during the period when Party B is paid off. During the credit-granting period of Party B, the newly-increased credit-granting
conditions made by Party A in any other banks should not be superior to Party B. otherwise, Party A must pay back the loan to Party
B in advance.

 

II. Prepayment

 

(1) In
case of prepayment, the lender should be notified of it in written from 30 days in advance and the lender has the right to charge
the liquidated damages against the borrower or ☑ exempt the borrower from the liquidated damages due to prepayment.

 

(2) If
the lender charges the liquidated damages due to prepayment, the liquidated damages should be collected from the borrower in one
time in accordance with the monthly interest rate for the loan as stipulated in the contract. The formula for the liquidated damages
is: Liquidated damages = The amount of prepaid principal x the remaining repayment installment of the loan (calculated on a monthly
basis. If less than a month, it should be calculated as one-month standard) x the monthly interest rate for the loan under the
contract.

 

(3) After
Party A uses the credit-granting limit for the first time, Party B should carry out the settlement business if the limit reaches
the financing proportion within half a year. (Guangdong CarHouse E-Commerce Technology Co., Ltd. [Corporate seal affixed here])

 

(There are no texts below)

 

    22

     

    

  

(The page is used as signatory page)

 

Party A (signature and seal) [Corporate seal
affixed here]

 

Legal representative (person in charge)

 

Or authorized agent (signature or seal) /s/
Haitao Jiang

 

Guangdong CarHouse E-Commerce Technology Co.,
Ltd.(seal)

 

Party B(signature and seal) [Corporate seal
affixed here]

 

Legal representative (person in charge)

 

Or authorized agent (signature or seal) /s/Xuefeng
Wu

 

Bank of Dongguan Co., Ltd. Zhongxinqu Branch
(seal)

 

Date of Signing: November 5, 2018

 

/s/ Witnesses from Bank of Dongguan Co.,
Ltd. Central Branch

 

Complaint and Supervision hotline of Bank
of Dongguan Co., Ltd.: 40011 – 96228

 

 

23

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