Document:

Exhibit 10.20

 

Supplementary
Contract

No.:
[*]

Debtor
(Party A): Xiamen Pop Culture Co., Ltd.

Domicile:
Unit 836, No.5, Mucuo Road, Huli District, Xiamen

 

Creditor
(Party B): Xiamen International Bank Co., Ltd., Xiamen Branch

Domicile:
Unit 1A, 1B, 2A, 2B, Xingang Plaza, No.10 Hubin North Road, Siming District, Xiamen City

 

Guarantor
(Party C): Liya Wei

Domicile:
[*]

Name
and number of the certificate: ID Card No.: [*] 

 

Guarantor
(Party D): Zhuoqin Huang

Domicile:
[*]

Name
and number of the certificate: ID Card No.: [*]

 

On
October 30, 2018, Party A and Party B signed the Comprehensive Credit Line Contract (hereinafter referred to as the "Loan
Contract") numbered as the 0304201810290087. On the same date, Party B and Party C,Party B and Party D signed the Loan Contract
numbered 0304201810290087BZ-1, Guarantee Contract of 0304201810290087BZ-2 (hereinafter referred to as "Guarantee Contract")
respectively. On October 29, 2019, Party A, Party B, Party C and Party D signed the Supplementary Contract numbered 0304201808140070C-2
(hereinafter referred to as the "Supplementary Contract"). Now, due to the change of conditions, some clauses in the
Loan Contract need to be amended and supplemented. The parties hereby sign this supplementary contract:

 

		1.	Specific
                                            Supplementary or Amended Provisions

 

		1)	Article
                                            3.1.1 of the Loan Contract is amended as follows:

 

3.1.1
(Only the loan with uniform fixed interest rate within the limit period is applicable) The loan under the Contract adopts uniform fixed
interest rate, and the loan interest rate is 8.0% (annual interest rate) of fixed value without adjustment. If the loan currency
under the Contract is RMB, the fixed value shall be the one-year loan market quotation interest rate (LPR) published by the National
Interbank Funding Center at the close of business of Party B on the working day prior to the signing date of the Contract plus 4.15%.

 

     

     

    

 

		2.	Warranty
                                            Conditions

 

		1)	(Applicable
                                            to credit guarantee) The original guarantee conditions remain unchanged, and Party C and
                                            Party D shall continue to provide full liability joint and several credit guarantee for the
                                            loan under the Loan Contract and this supplementary contract.

 

This
supplementary contract is an integral part of the Loan Contract and the Guarantee Contract. Except for the clauses modified and supplemented
by this Supplementary Contract, all other clauses of the Loan Contract and the Guarantee Contract shall remain unchanged and their validity
shall not be affected.

 

This
supplementary contract shall come into force upon the date when the authorized signatories of all parties sign or seal it, affix official
seal and go through the corresponding legal procedures. The Contract shall be made in quintuplicate, with Party A holding one copy, Party
B holding two copies, Party C and Party D holding one copy respectively, all of which shall have the same legal effect.

 

	Party A:
    /s/ Xiamen Pop Culture Co., Ltd.	Party B:
    /s/ Xiamen International Bank Co., Ltd. Xiamen Branch
	Party C: /s/ Liya
    Wei               	Party D: /s/ Zhuoqin
    Huang 
	 	 
	Signature Date:
    October 28, 2020	 
	Signing place: Siming
    District, Xiamen City	 
	Witness: Peng Moumou,
    Li MouExhibit 10.21

 

Factoring Contract with Domestic Recourse

(For Online Factoring Application)

 

No.: [*]

Factor: Industrial Bank Co., Ltd., Xiamen
Branch (hereinafter referred to as “Party A”)

 

Domicile: Xingye Building, No.78 Hubin
North Road, Siming District, Xiamen City

 

Legal Representative/Responsible Person:
Pipa Hong

 

Factoring Applicant: Xiamen Pop Culture
Co., Ltd. (hereinafter referred to as “Party B”)

 

Domicile: Unit 836, No.5, Mucuo Road,
Huli District, Xiamen

 

Legal Representative/Responsible Person:
Zhuoqin Huang

 

Place of Signing: Siming District/County,
Xiamen

 

February 2020 Edition

 

Party B applies to Party A
for domestic factoring business due to the needs of production and operation, Party A agrees to provide Party B with the services under
the Contract. In order to clarify the responsibilities and abide by the credit, the two parties hereby reach the following agreement through
equal consultation in accordance with the relevant laws and regulations of the state:

 

Party A and Party B confirm
that the financing under the Contract belongs to the following (2) situation:

 

(1) The Contract is
a sub-contract of the _ (/) (i.e. The general contract) numbered as _ (/), the credit line is converted into RMB/, and the credit period
is from to. The financing amount is included in the credit line.

 

(2) This Contract is
an independent legal text signed by Party A and Party B.

 

Article 1 Definitions and
Interpretation

 

Unless otherwise agreed in
the Contract, the following terms shall have the following definitions and explanations:

 

1. Factor: the transferee
of accounts receivable, referred to as “Party A” in this Contract.

 

2. Factoring Applicant:
namely, the assignor of accounts receivable, which is the seller (or supplier, service provider, lessor) of the commercial contract. In
this contract, it refers to“Party B”.

 

3. Buyer: i.e.
The buyer (or debtor, service recipient, lessee, payer) of the commercial contract.

 

     

     

    

 

4. Business
Contract: the general name of the transaction contract, order or agreement signed by Party B and the Buyer, in which Party B
provides goods, services or leases to the Buyer and collects the price. For specific information, please refer to the attached List
of Business Contracts.

 

5. Accounts receivable:
refers to the monetary creditor’s rights and the proceeds arising from Party B’s provision of commodities, services or leasing of assets
on the basis of real transactions between the Buyer and the Seller under the Business Contract, but excluding the right to claim for payment
arising from bills or other negotiable securities.

 

The transfer of accounts
receivable under the Contract refers to the transfer of the accounts receivable and all rights and interests related to the accounts receivable.
Under any circumstances, the transfer of accounts receivable under the Contract shall not be interpreted as Party A assuming any obligations
or responsibilities under the Business Contract. Any obligations and responsibilities of Party B under the Business Contract shall still
be assumed by Party B.

 

6. Documents: refer
to various transaction documents indicating the creditor-debtor relationship between the Buyer and the Seller under the Commercial Contract
and conforming to the conditions for handling the factoring service hereunder based on the Commercial Contract between Party B and the
Buyer and for the purpose of performing such Commercial Contract, including but not limited to commercial contract, commercial invoice,
delivery certificate, goods inspection certificate, payment notice, Payment confirmations and other evidences of accounts receivable arising
from the performance of commercial contracts.

 

7. Commercial invoice:
the value-added tax invoice under the transaction for which the value-added tax invoice shall be provided. Transactions without VAT invoices
refer to other invoices that conform to laws and regulations, industry practices and trading habits of buyers and sellers.

 

8. Factoring financing:
refers to the financing provided by Party A to Party B before the maturity of accounts receivable within the net amount of accounts receivable
agreed to be transferred and approved by Party A according to the application of Party B. The financing methods refer to short-term financing
methods and other financing methods. Other financing methods include letters of credit, bank acceptance bills, etc.

 

9. Net Accounts Receivable:
refers to the net amount collected by Party B from the actual party in accordance with the Business Contract after deducting the advance
payment, paid payment, commission, cash discount, sales discount and service charges separately priced in accordance with the Business
Contract and subject to the conditions of service.

 

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10. Commercial dispute:
refers to the defense, counterclaim or set-off or similar actions (including but not limited to the defense caused by a third party’s
claim on the accounts receivable) raised by the Buyer of the Business Contract against the accounts receivable hereunder caused by disputes
between the Buyer of the Business Contract and Party B over goods, invoices, Party B’s performance of obligations under the Business Contract
or any other business contact-related matters. The commercial dispute shall be handled by the Buyer and the Seller. Party A shall not
participate in the settlement of the commercial dispute and shall not assume any responsibility for the settlement result.

 

11. Factoring business
with domestic right of recourse: refers to a series of comprehensive financial services such as accounts receivable account management,
accounts receivable financing, accounts receivable collection and so on provided by Party A for the transfer of accounts receivable generated
from the transaction between Party A and the buyer according to the application of Party B. Party A and Party B shall notify the Buyer
of the assignment of creditor’s rights of accounts receivable within the agreed time limit after signing the Contract.When the Buyer fails
to pay the accounts receivable due for any reason or the circumstances specified in Article 8 of the Contract occur, Party B shall unconditionally
repurchase the accounts receivable as specified in the Contract, and Party A has the right to recover from Party B.

 

12. Right of recourse:
It is divided into the right of recourse to Party B and the right of recourse to the buyer of the commercial contract.

 

The right of
recourse against Party B means that after Party A has financed the accounts receivable of Party B, in case of delay, refusal or
inability of payment by the Buyer under the Business Contract, Party B fails to transfer the payment to Party A in full amount in
time after receiving the payment from the Buyer under the Business Contract or other circumstances specified in the Contract, Party
A shall have the right to demand Party B to repay the overdue financing principal and financing interest of Party B Funds for
overdue interest, liquidated damages, damages and other related expenses. That is to say, no matter for what reason the accounts
receivable are not paid to Party A in time when they are due, Party A has complete and unconditional recourse to Party B.

 

The right of recourse
to the buyer of the commercial contract refers to the right of recourse of Party A, as the obligee, to the buyer when the buyer fails
to make full payment in time as agreed in the commercial contract after receiving the accounts receivable.

 

At any time, whether Party A
exercises one of the rights of recourse does not affect its exercise of the other right of recourse.

 

13. Repurchase of accounts receivable:
Party B shall repurchase the transferred accounts receivable from Party A under the circumstances specified in the Contract, and the rights
related to such accounts receivable shall be transferred back to Party B at the same time after Party B pays the repurchase amount to
Party A in full amount as specified in the Contract.

 

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14. Payment Collection Account:
An account designated by Party A for the collection and deposit of accounts receivable.

 

Account Name: Industrial Bank
Xiamen Pu Pu Culture Co Ltd. 1 Guarantee Account, Account Number: [*].

 

15. Due date of accounts receivable:
the payment date of the commercial contract, which refers to the specific date when the Buyer pays money to Party B according to the commercial
contract signed between Party B and the Buyer. If the commercial contract does not specify the payment date of accounts receivable, but
specifies the payment terms, the due date shall be the date promised by Party B and approved by Party A. For details, please refer to
the attached List of Commercial Contracts.

 

16. Grace period: the delay
period of the receivable due date (i.e. The payment date of the commercial contract) that Party A can tolerate. Party A and Party B agree
through negotiation that the grace period agreed in the Contract is [30] natural days from the due date of accounts receivable.

 

17. Financing Term: the period
from the date when Party A releases the financing funds to Party B to the expiration date of financing stipulated in this Contract. In
case of the circumstances specified in Article 8 of the Contract, Party A has the right to unilaterally announce the early expiration
of financing.

 

18. Overdue financing: refers
to that the factoring financing provided by Party A has not been paid off when the financing period specified in the Contract expires
(including the expiration in advance).

 

19. Domestic factoring fee:
refers to the factoring service fee charged by Party A to Party B for providing the factoring service agreed in the Contract.

 

20. Notice of transfer of accounts
receivable: refers to the act of Party A and Party B informing the buyer of the commercial contract of the fact of transfer of accounts
receivable.

 

21. “Working Day”
in the ContractRefers to the business day of the bank. In the course of the performance of the contract, if a certain withdrawal and repayment
day is a non-business day, it will be postponed to the next business day.

 

22. “Fixed interest rate”
means an interest rate that remains constant over the term of the financing.

 

23. “Floating interest
rate” refers to the interest rate that changes according to the period and range agreed by Party A and Party B during the financing
period.

 

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24. The “floating period”
refers to the change frequency of the financing interest rate agreed by both parties. Within a floating period, the financing interest
rate is calculated and determined by the pricing benchmark interest rate according to the pricing method stipulated in the contract, and
the financing interest rate remains unchanged in the floating period;Upon the expiry of one floating period and entering into the next
floating period, the financing interest rate shall be calculated and determined based on the pricing benchmark interest rate of the new
floating period in accordance with the contractual pricing method, and the financing interest rate shall remain unchanged during the floating
period.

 

25. “Pricing benchmark
interest rate” refers to the interest rate standard used to determine the financing interest rate of the Contract, including but
not limited to the quoted interest rates published in China or relevant countries, regions and markets, such as LPR, SHIBOR, LIBor, HIBOR,
SIBor and the RMB deposit benchmark interest rate of the Central Bank.

 

26. “LPR” means the
quoted interest rate of the loan market calculated and published by the National Interbank Funding Center authorized by the People’s Bank
of China. According to the common practice of the banking industry, both parties agree to determine the pricing benchmark interest rate
rule under the Contract as LPR on T-1 day, in which “T” is the day when the financing interest rate is determined, and “T-1”
is the previous working day of that day.

 

27. “SHIBOR” means
the Shanghai Interbank Offered Rate published by the National Interbank Funding Center and applicable on the current day.

 

28. “LIBor” means
the inter-bank lending rate in the London financial market, the currencies of which include US dollar, euro, Japanese yen, etc. According
to the common practice of the banking industry, both parties agree to determine the pricing benchmark interest rate rule under the Contract
as LIBor of T-2 Date, in which “T” refers to the date when the financing interest rate is determined, and “T-2” refers
to the first two working days of that date.

 

29. “HIBOR” means
the Hong Kong dollar interbank offered rate in the Hong Kong financial market, and the currency is only applicable to Hong Kong dollar.
According to the common practice of the banking industry, both parties agree to determine the pricing benchmark interest rate rule under
the Contract as HIBOR on T-2 day, where “T” is the day on which the financing interest rate is determined, and “T-2”
is the first two working days of that day.

 

30. “SIBor” means
the Singapore Interbank Offered Rate in Singapore Dollars only. According to the common practice of the banking industry, both parties
agree to determine the pricing benchmark interest rate rule under the Contract as SIBor on T-2 Date, where “T” is the date on
which the financing interest rate is determined, and “T-2” is the first two working days of that date.

 

31. “The benchmark interest
rate of RMB deposits of the People’s Bank of China” refers to the benchmark interest rate of RMB deposits published by the People’s
Bank of China and applicable on the current day.

 

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32. The currency and specific
value of LPR, SHIBOR, LIBor, H1BOR, SIBor and the benchmark interest rate of RMB deposit of the People’s Bank of China determined according
to the applicable pricing benchmark interest rate rules under the Contract shall be subject to the inquiry results of the core system
of Industrial Bank. The date of determining the financing interest rate can be the actual financing issuance date, the date of signing
the contract, the re-pricing date or the extension date.

 

“Financing interest rate”
refers to the interest rate executed under the Contract through negotiation by both parties, in accordance with the pricing benchmark
interest rate rules and the pricing formula of financing interest rate of the Contract, and on the basis of the applicable pricing benchmark
interest rate on the date when the financing interest rate of the Contract is determined, plus or minus the floating points.

 

Article 2 Amount of Accounts
Receivable

 

1. According to the commercial
contract signed between Party B and the Buyer (see the attached commercial contract list), Party A agrees to handle the factoring business
with recourse for Party B according to the agreement.

 

2. The net amount of accounts
receivable transferred hereunder is RMB (in words) One Thousand and Three Million yuan Only.

 

Article 3 Financing

 

Through negotiation, both parties
agree to adopt the following two methods for financing under the Contract:

 

1. Short-term financing

 

(1) Party A may, according to
the application of Party B, release the financing fund to Party B within the maximum limit of 80.000000% of the net accounts receivable,
and the financing amount is RMB (in words) ten million yuan only.

 

The financing term is from February
7, 2021 to September 30, 2021. If Party A sends a Financing Loan Notice to Party B, the date of loan extension shall be the
actual date of loan extension recorded in the Financing Loan Confirmation (confirmed by Party B’s electronic signature) corresponding
to the latest Financing Loan Notice. The maturity date of the financing shall be extended accordingly.

 

(2) Financing interest ratio

 

A. The pricing benchmark
interest rate shall be subject to Option (I) as follows:

 

(I) LPR one-year term
grade.

 

(II) SHIBOR/Duration
Grade.

 

(III) LIBor/Duration
Scales.

 

(IV) HIBOR/Duration
Level.

 

(V) SIBor/Duration
Scales.

 

(VI) The benchmark
interest rate/maturity grade of RMB deposits of the Central Bank.

 

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B. Pricing formula
of financing interest rate: financing interest rate = pricing benchmark interest rate + 1.15% or-/%

 

C. Financing interest
rate (annual interest rate, the same below) shall be implemented in accordance with the following (I) agreement:

 

(I) Fixed interest
rate. The interest rate is determined as per Option a below:

 

a. The interest rate
of the loan shall be determined according to the pricing benchmark interest rate of the actual issuing date and the pricing formula, and
the interest rate during the financing period shall remain unchanged.

 

b. According to the
benchmark pricing interest rate on the date of signing of the Contract and the fixed interest rate for financing as agreed in the pricing
formula, it is an annualized rate of L%. In case of any adjustment to the benchmark pricing interest rate on the date of actual payment,
the plus or minus point in the pricing formula shall be adjusted accordingly. The aforesaid annualized interest rate agreed in the Contract
shall remain unchanged.

 

(II) Floating interest
rate. The financing interest rate is determined according to the pricing benchmark interest rate and pricing formula on the actual issuance
date and re-pricing date, and the interest is calculated by stages. The re-pricing date will be executed in the following method ():

 

a. The floating period
is/ (month/quarter/half a year/year/other periods). The corresponding date of each cycle since the actual release date of financing is
the re-pricing date of the contract. If there is no corresponding date in the current month, the corresponding date is the last day of
the current month;

 

b. /.

 

During the financing
period, unless otherwise agreed in the contract, if the financing interest rate is adjusted in accordance with the contract, Party B will
not be notified.

 

(III) other interest
rate options:/.

 

D.
The pricing benchmark interest rate corresponding to the financing used under this Contract shall be determined on the date of actual
issuance of each financing (or re-pricing date, if any).

 

E. For the financing
granted under this Contract, in case that China or relevant countries/regions cancel the pricing benchmark interest rate under this Contract,
or the market does not publish the pricing benchmark interest rate, or the regulatory authorities require, Party A shall have the right
to follow the interest rate policy of China or relevant countries/regions in the same period, in accordance with the principle of fairness
and good faith, and with reference to industry practices, interest rates and other factors. Notify Party B after re-determining the financing
interest rate. If Party B has any objection, it shall consult with Party A. If the negotiation fails within five working days from the
date of Party A’s notice, Party A has the right to withdraw the financing in advance, and Party B shall immediately pay off the remaining
financing principal and interest. If Party A requires Party B to sign a supplementary agreement on relevant matters at that time or the
state and regulatory policies require Party B to sign a supplementary agreement, Party B shall cooperate.

 

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(3) Collection of financing
interest

 

The financing interest is calculated
on the basis of the financing amount according to the actual financing days, and the financing interest is calculated and collected by
the following [II] method through negotiation between both parties:

 

(I) As for the method
of advance collection, Party B irrevocably authorizes Party A to deduct the financing interest in advance from any account of Party B
directly according to the financing days agreed in the first paragraph of Article 3 from the time when the factoring financing fund is
paid to Party B’s account. When the method of advance collection is adopted, Party A and Party B shall refund the interest received in
advance according to the difference between the number of days of factoring financing agreed in the Contract and the actual number of
days of financing.

 

(II) On a monthly/quarterly
basis, the 21st day of each month (month/quarter end month) is the interest payment date. Party B shall pay the current factoring financing
interest to Party A on the interest payment date, and settle the remaining principal and interest when the factoring financing expires.

 

(III) Actual collection
means that the interest of the factoring facilities will be collected together when the factoring facilities are due (including those
due in advance). In case of actual collection, if the collection amount is insufficient to repay the factoring financing principal and
interest, Party A has the right to require Party B to make up the deficiency separately.

 

(IV) Other repayment
methods: /.

 

(4) The overdue interest rate
is 50% higher than the financing interest rate. For the interest not paid on time (including the interest before and after the maturity
of financing), Party A has the right to charge compound interest according to the overdue interest rate agreed in this Contract.

 

(5) Where Party B requests to
repay the financing principal and interest in advance with funds other than the transferred receivables, Party B shall obtain the written
consent of Party A within [15] working days in advance. Party A has the right to require Party B to pay [0] percent of the early repayment
of the financing amount as liquidated damages. After Party B pays off the financing principal and interest in advance, Party A shall transfer
the creditor’s rights of accounts receivable to the buyer of the commercial contract back to Party B.

 

2. Other financing methods:

 

Party A may, according to Party
B’s application, provide other financing methods to Party B within _% of the maximum net amount of accounts receivable, and the specific
financing method, time limit, interest and other expenses shall be calculated and collected according to the contents agreed in the financing
contract (hereinafter referred to as the “Financing Contract”) with the number of (hereinafter referred to as “/”)
separately signed by both parties.As far as the factoring financing business agreed in the Contract is concerned, the Contract, the Financing
Contract and relevant annexes are an integral whole, which constitutes the entire agreement of the factoring financing business between
Party A and Party B. In case of any conflict between the Financing Contract and the Contract, the Contract shall prevail. In case of no
agreement in the Contract, the contents agreed in the Financing Contract shall prevail.

 

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Article 4 Domestic Factoring
Fees

 

No matter which method is adopted
for the financing under the Contract, Party B shall pay the factoring commission to Party A, and Party A has the right to collect it when
the financing fund is released, and also has the right to directly deduct it when receiving the payment from the Buyer.

 

1. Factoring commission

 

The factoring handling
fee of the Contract shall be calculated and collected according to the third method as follows:

 

(I) Collected according
to/% of the amount of the commercial invoice of the accounts receivable.

 

(II) Based on/% of
the net accounts receivable.

 

(III) 0.25% of the
financing amount.

 

2. If Party A chooses to
collect the factoring service charge when releasing the financing fund, and if the short-term financing method is adopted, Party A
shall have the right to directly deduct the factoring service charge from any account of Party B at any time from the time when the
financing fund is released to Party B’s account. Under the short-term financing method, the financing fund provided by Party A to
Party B shall still be subject to the financing amount agreed in Article 3 of the Contract, and the financing fund provided by Party
A to Party B under other financing methods shall still be subject to the financing amount agreed in the specific financing contract
separately signed by both parties. Party B has no objection to this and agrees to accept this clause unconditionally.

 

3. From the date of signing
the Contract, the accounts receivable enjoyed by Party B to the Buyer of the Commercial Contract shall be transferred to Party A.

 

Article 5 Conditions Precedent
to the Disbursement of Finance

 

After Party B meets the following
prerequisites required by Party A, Party A shall release the financing agreed in Article 3 of the Contract to Party B:

 

1. Party B shall submit the
following legal documents to Party A, including but not limited to the articles of association, business license, capital verification
report and other company documents;Audited annual financial reports and statements or other financial documents that Party A deems necessary;If
there is mortgage/pledge, the mortgage/pledge registration procedures required by relevant laws and regulations have been properly handled,
and the originals of relevant ownership certificates and registration certificates have been handed over to Party A for collection and
deposit as required by Party A;Other documents and materials required by Party A.

 

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2. Party B shall submit to Party
A the documents and vouchers necessary for the transfer of the accounts receivable, the documents and vouchers of the ownership of the
rights attached to the accounts receivable, and documents and vouchers related to the transfer of ownership of goods, including but not
limited to the following:

 

(1) Application for
domestic factoring business with recourse;

 

(2) Commercial contracts
and commercial invoices;

 

(3) Proof that the
notice of account receivable transfer has reached the buyer of the commercial contract, including but not limited to the return receipt
of the Notice of Account Receivable Transfer, the notarized materials sent by the Notice of Account Receivable Transfer, or the mailing
documents signed and received by the buyer of the commercial contract, and other materials approved by Party A and in line with the industry
practice that can prove that the notice of account receivable transfer has reached the buyer;

 

(4) Materials indicating
that the seller has fulfilled its obligations under the commercial contract and has obtained the right to claim accounts receivable; and

 

(5) other materials
that need to be submitted.

 

3. There is no unresolved commercial
dispute between Party B and the Buyer.

 

4. Party B and the Buyer shall
not be unable to repay or pay due liabilities or other circumstances that endanger, damage or may endanger or damage their ability to
perform the Business Contract and/or this Contract, including but not limited to business suspension, suspension, revocation or revocation
of necessary licenses or licenses for their legal existence and/or operation, loss of legal personality, application for bankruptcy, acceptance
of bankruptcy application, Being declared bankrupt, entering liquidation procedures, involving major litigation or arbitration or administrative
penalties as the party being investigated, deteriorating financial situation, etc.

 

5. The accounts receivable under
the Business Contract have been properly registered for transfer according to the requirements of Party A.

 

6. Through the electronic channels
provided by Party A, it can be confirmed that Party B’s financing application instructions corresponding to the Contract have been approved
by Party A;

 

7. For the Financing Loan Notice
sent by Party A to Party B through electronic channels, Party B has fed back the Financing Loan Confirmation to Party A in the form of
electronic signature;

 

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8. Other conditions precedent
agreed in the financing contract or required by Party A.

 

Party A shall have the
right to unilaterally decide to reduce or waive part of the above conditions precedent, and Party B or the guarantor shall not use
such conditions as a defense for Party A. Party B hereby agrees that after the signing of the Contract, if Party B fails to meet any
of the conditions precedent agreed in the Contract, Party A shall have the right to terminate the Contract and Party B shall bear
the responsibilities or losses arising therefrom. Party A shall notify Party B of the termination of the Contract, and the Contract
shall become invalid as of the date when the termination notice is delivered to Party B in the manner agreed in the Contract. In
addition to the methods agreed in Article 16 of the Contract, the business application instructions returned or terminated by Party
A through its electronic channels shall be deemed as the notice of termination of the Contract delivered to Party B.

 

Article 6 Notice of Assignment
of Accounts Receivable

 

Party B shall notify the Buyer
of the commercial contract of the transfer of accounts receivable by using Party A and Party B as the joint notifying parties, and submit
the certification materials that the notice of transfer of accounts receivable has reached the Buyer of the commercial contract to Party
A for acceptance within 3 working days after signing the Contract.

 

Article 7 Collection of
Accounts Receivable

 

1. Payback Account

 

(1) The payment collection
account is exclusively used for receiving and depositing the accounts receivable paid by the Buyer under the Commercial Contract, and
Party B shall not require the Buyer to pay any payment under the Commercial Contract to any third party by other means than the payment
collection account.

 

(2) Party A and Party
B agree that the matters related to the payment collection account shall be implemented in accordance with the following [ (II)]:

 

(I) The collection
account is a settlement account opened in Party A in the name of Party B. Party A entrusts Party B as the collection agent of the accounts
receivable transferred hereunder, and Party B voluntarily delivers the account to Party A for closed management, and Party A monitors
the use of funds.

 

(II) The payment collection
account is the deposit account opened by Party B in Party A, which is opened in the name of Party A according to the regulations of Party
A and managed by Party A. The accounts receivable entered into the payment collection account shall be possessed by Party A, and shall
be specifically used as the goods pledge guarantee for the financing under the Contract.

 

(3) If the payment
collection account is a settlement account, Party A and Party B agree on the relevant matters as follows:

 

A. Party B irrevocably
authorizes Party A to deduct the funds in the account to pay off the factoring financing under the Contract at any time or transfer the
funds to other margin accounts designated by Party A to guarantee the payment of the factoring financing.

 

B. Without the consent
of Party A, Party B shall not deal with the account funds in any way, and shall not cancel, transfer or pledge to any third party.

 

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C. Party B agrees that
this payment-back account cannot withdraw cash, purchase commercial bills, or open external payment and universal deposit and withdrawal
business of online banking and telephone banking, and Party A has the right to take measures to restrict the fund transfer or external
payment function of this account.

 

D. If the payment collection
account is sealed up, frozen or deducted by the competent authority, Party B shall implement the following measures according to the requirements
of Party A: 1) Pay the amount equivalent to the sealed up, frozen or deducted amount (whichever is higher) to the account designated by
Party A; 2) Party A shall separately open a payment collection account to collect the accounts receivable, and ensure to inform the Buyer
of the account change, and the management of the newly opened payment collection account shall be carried out in accordance with this
Agreement; 3) Other measures that Party A requires Party B to take.

 

(4) If the payment collection
account is a deposit account, Party B shall provide a pledge guarantee for the repayment of the factoring financing agreed in the Contract
for the money in the payment collection account, and the money is deemed as a pledge and transferred to Party A for possession when it
enters the payment collection accounts, and the money received at any time in the payment collection accounts shall be deemed as a pledge.
Party A and Party B shall separately sign a deposit agreement to agree on the guarantee matters. Party B hereby irrevocably authorizes
Party A to deduct the deposit in the payment account at any time to pay off the factoring financing.

 

2. Establishment of Trust Relationship

 

(1) Immediately
after the signing of this Contract, a trust relationship shall be established between Party A and Party B, with Party A as the
trustor and beneficiary, and Party B as the trustee without remuneration. The purpose of this trust is to ensure the smooth recovery
of the creditor’s rights of the assigned accounts receivable accepted by Party A. Once Party B receives the accounts receivable paid
by cash or bills from the Buyer, the funds or bills will automatically become the property of Party A. Party B shall, on the same
Banking Day (not later than the second Banking Day) Party B shall transfer the relevant funds to the repayment account or the
account designated by Party A, or deliver the realized funds to Party A after the corresponding bills are endorsed and
transferred/cashed. Before the fund is transferred to Party A, or Party B delivers the realized fund to Party A after the bill is
endorsed/transferred/cashed, Party B shall temporarily hold the fund or bill as trustee entrusted by Party A, and Party B agrees and
authorizes Party A to directly deduct the corresponding amount from the relevant account of Party B.

 

(2) Before the trust property
is transferred to the account designated by Party A or Party A does not deduct the corresponding funds, Party B shall immediately notify
Party A and cooperate with Party A to actively realize the trust property rights when Party B is applied for bankruptcy, a third person
claims rights or affected by judicial compulsory measures.

 

(3) If Party B fails to fulfill
its duties as trustee and causes losses to the trust property, Party B shall assume full liability for compensation to Party A for the
loss amount. If Party B fails to transfer the trust property to Party A in time, Party A has the right to charge liquidated damages to
Party B for the unpaid amount at the overdue interest rate agreed in this Contract.

 

    12

     

    

 

(4) Other trust matters not
expressly stipulated in this Article shall be dealt with in accordance with the Trust Law of the People’s Republic of China.

 

3. Party A has the right to
check the accounts with Party B regularly according to its own needs. If Party B does not raise any objection within 7 working days after
receiving Party A’s statement of account, the statement of account shall be deemed to be correct.

 

4. The funds in the repayment
account shall be used to repay the financing. After the following payments and expenses are paid off, if there is still money left in
the repayment account, Party A shall transfer it to the account designated by Party B:

 

(1) The factoring principal
hereunder;

 

(2) Party A has not
obtained the paid financing interest (including overdue interest and compound interest);

 

(3) Party A fails to
obtain the domestic factoring fees as agreed in Article 4 of the Contract;

 

(4) The liquidated
damages and damages that Party A fails to pay as agreed in the Contract; and

 

(5) Relevant expenses
that Party A fails to pay under the specific financing contract.

 

Article 8 Repurchase and
Recourse

 

1. Party B shall assume the
repurchase responsibility for the creditor’s rights of accounts receivable that Party A fails to repay on time. In case of any of the
following circumstances, Party A has the right to issue a Notice of Repurchase of Accounts Receivable to Party B, requiring Party B to
immediately repurchase all the principal, interest and related expenses of the creditor’s rights of accounts receivable that have not
been repaid, or recourse against Party B according to law:

 

(1) Party B has commercial
disputes with the buyer of the commercial contract or the commercial contract and other information provided by Party B are false;

 

(2) Party A fails to
recover in full amount any of the transferred accounts receivable under the Commercial Contract due to the change of the financial condition
of the Buyer or any other reasons;

 

(3) The buyer of the
commercial contract has paid the amount of accounts receivable to Party B, but Party B has not transferred the full amount to Party A;

 

(4) Party B breaches
the specific financing contract or the first paragraph of Article 13 hereof; and

 

(5) The Factoring Contract
is invalid or part of its clauses are invalid for any reason.

 

2. After receiving the Notice
of Repurchase of Accounts Receivable from Party A, Party B shall repurchase the accounts receivable from Party A under the commercial
contract, and the repurchase amount shall be calculated as follows: Party A’s financing principal + unpaid financing interest (including
overdue interest and compound interest), liquidated damages (if any), damages (if any) + unpaid domestic factoring expenses +For the actual
recourse expenses incurred by Party A, the repurchase amount shall be subject to that specified in the Notice of Repurchase of Accounts
Receivable, and Party B waives any defense and objection.

 

    13

     

    

 

3. Party B shall pay the repurchase
amount to the designated account within the time specified in the Notice of Repurchase of Accounts Receivable. If Party B still fails
to pay the repurchase amount as required after the time limit, Party B irrevocably authorizes Party A to deduct the corresponding amount
from any account opened by Party B in all branches and subsidiaries of Party A and Industrial Bank.

 

4. Even if Party A does not
issue the Notice of Repurchase of Accounts Receivable, Party A has the right to unilaterally announce the early expiration of the factoring
financing under this Contract and directly exercise the right of recourse against Party B in case of the circumstances stipulated in Paragraph
1 of this Article, including but not limited to deducting any account funds opened by Party B in all branches and subsidiaries of Party
A and Industrial Bank, taking litigation, Recourse to Party B by arbitration and other legal means (the amount of recourse shall be the
same as the repurchase amount of Party B).

 

5. After Party B completes the
repurchase of accounts receivable or Party A’s recourse amount is fully repaid, Party A shall transfer the creditor’s rights of accounts
receivable to the buyer of the commercial contract back to Party B.

 

6. This article does not affect
the right of Party A as the right holder of the accounts receivable to claim the payment of the accounts receivable to the buyer of the
commercial contract.

 

Article 9 Guarantee

 

1. The following contracts are
the guarantee contracts for the financing hereunder:

 

(1) The Maximum Amount
Guarantee Contract (contract name) with serial number of Xingyin Xiaye Seven Bao Zi No. 20205008 the guarantee mode is guarantee,
and the guarantor is Huang Zhuoqin.

 

(2) MJHK20210204000222
Deposit Agreement (Applicable to the Collection of Accounts Receivable under Online Financing) (contract name) is guaranteed by pledge,
and the guarantor is Xiamen Pop Culture Co., Ltd.

 

2. Party A has the right not
to perform the obligations such as release and financing under the Contract until the guarantee contract under the Contract is signed
and takes effect/the guarantee procedures are completed.

 

Article 10 Warranties and
Commitments of Party B

 

1. Party B is a legal unit established
in the People’s Republic of China and has the right to sign and perform the Contract.

 

    14

     

    

 

2. Party B’s factoring business
under this Contract has been authorized by its board of directors or the corresponding supreme authority and does not violate the laws,
regulations, policies and articles of association applicable to Party B. If Party B signs this Contract in violation of the articles of
association and other internal regulations of the enterprise, Party B shall be responsible for all responsibilities, and Party A shall
have nothing to do with it.

 

3. Party B shall timely provide
Party A with all the relevant materials agreed in the Contract and required by Party A, and guarantee the validity, authenticity, accuracy
and completeness of the provided materials, without omitting any important facts; There is no fraud, intent or gross negligence of Party
A that causes Party A to make wrong or incomplete judgment on Party B and/or the buyer and/or the underlying transaction.

 

4. Party B’s assets are free
from any mortgage, pledge, lien and other debt burdens, as well as any unfinished litigation, arbitration and bankruptcy proceedings,
except as stated in the materials provided to Party A.

 

5. Party B does not conceal
any of the following events that have occurred or are about to occur and may cause Party A not to agree to provide the services hereunder:

 

(1) Major disciplinary
violations, violations of law or compensations related to Party B or Party B’s main leaders;

 

(2) pending litigation,
arbitration and bankruptcy cases;

 

(3) Events of default
under the contract between Party B and any other creditors; and

 

(4) Other circumstances
that may affect Party B’s financial status and solvency.

 

6. The accounts receivable transferred
herein shall meet the following conditions:

 

(1) The transaction
is true, legal and valid, and the accounts receivable are generated from the normal business transactions between the two parties and
belong to Party B;

 

(2) Party B has fully
and properly fulfilled its delivery, service and labor service under the Business Contract, and can provide corresponding certification
materials, and the legal, valid, binding and definite payment obligation of the Buyer under the Business Contract has been formed and
has not been fulfilled;

 

(3) The relationship
between creditor’s rights and debts under the transaction is clear, and Party B does not transfer it to any third party, nor does it set
any pledge or other priority for repayment for any third party;

 

(4) At any time, the
commercial contract is free from any fraud, dispute, defect or other commercial dispute;

 

(5) At any time, the
commercial contract does not allow the seller (Party B) and the buyer (payer) to offset the creditor’s rights, the installment payment
that damages the interests of Party A, and the return of goods if the sale fails;

 

(6) At any time, the
commercial contract is an assignable contract without any clause prohibiting or restricting its assignment;

 

(7) The accounts receivable
are not overdue when the Factoring Contract is signed;

 

(8) The seller has
not set any form of guarantee for the creditor’s rights applying for accounts receivable financing, and there is no right defect; and

 

(9) The account period
of accounts receivable shall generally not exceed 180 days (including), and the longest shall not exceed 360 days (including).

 

    15

     

    

 

7. Major property right
change and adjustment of operation method(Including but not limited to signing joint venture and cooperation contracts with foreign
businessmen and Hong Kong, Macao and Taiwan businessmen; canceling, closing down, suspending production, changing production;
separating, merging, merging, being merged; reorganizing, establishing or reforming into joint-stock companies; investing in
joint-stock companies or investment companies with fixed assets such as houses, machinery and equipment or intangible assets such as
trademarks, patents, proprietary technologies and land use rights. Transaction of property rights and management rights by means of
leasing, contracting, joint venture and trusteeship) Party B shall inform Party A in time. If the above matters are enough to affect
Party A’s rights and interests under the Contract, Party B shall obtain Party A’s written consent in advance.

 

8. The business activities under
the Business Contract shall be within the normal business scope of Party B.

 

9. The accounts receivable transferred
by Party B to Party A are transferable according to law and represent the real transaction background of goods sales/commercial services.

 

10. Prior to the signing of
the Contract, there shall be no commercial dispute or economic dispute between Party B and the Buyer of the Business Contract in connection
with the Contract or otherwise, and there shall be no debts or contingent liabilities of Party B as an actual unsettled debtor. And any
future events between the two parties shall not affect the performance of the relevant debts of this contract.

 

11. Party B unconditionally
transfers to Party A each receivable under the commercial contract related to the Contract, and the rights and interests related to the
creditor’s rights.

 

12. The transferred creditor’s
rights of accounts receivable are free from any right defects, and Party B has no right to dispose of them again after transferring them
to Party A, including but not limited to: Party B transfers the creditor’s rights of accounts receivable free of any (including those
stipulated or agreed) Restrictions: the accounts receivable are not and will not be transferred to any third party except Party A, and
the accounts receivable are not and will not be mortgaged, pledged or guaranteed in any other form, nor are they or will they be set as
trust property by any party other than Party A;Accounts receivable will not be subject to set-off, counterclaim, indemnity, set-off, lien
or other deduction.

 

13. The goods under the Business
Contract are not and will not be set up as mortgage, pledge or any other form of guarantee, nor will they be set up as the trust property
of any party other than Party A, nor will they be and will not be detained, seized or sealed up by any party, nor shall any other party
reserve the ownership of such goods in the contract with Party B.

 

    16

     

    

 

14. In case of the following
circumstances, Party B shall notify Party A within 5 days from the date of occurrence, and implement the guarantee measures for Party
A’s creditor’s rights under the Contract according to Party A’s requirements:

 

(1) The occurrence
of any event of default or an event likely to lead to a default;

 

(2) Any lawsuit or
arbitration related to Party B;

 

(3) Changes in equity
structure and reorganization of the company with the buyer of the commercial contract or any other third party;

 

(4) to enter into any
composition negotiations with other creditors; and

 

(5) Major changes or
changes in operation.

 

15. If the buyer of the commercial
contract has any relationship with Party B, it shall promptly and truthfully explain it to Party A. Such relationships include, but are
not limited to, affiliate relationships, controlling and controlled relationships, parent-subsidiary relationships, equity participation
and equity participation, or being a member of the same group, or being controlled or managed by the same company/person/management/group.

 

16. Party B guarantees to abide
by the laws, regulations, rules and regulations related to the services provided by Party A under the Contract, as well as the relevant
regulations or rules formulated by Party A.

 

17. After this Contract is signed,
Party B shall not make any change or rescission to the Business Contract without the written consent of Party A.

 

18. When Party A exercises the
right of recourse to the buyer of the commercial contract, Party B shall cooperate with Party A to provide all materials to prove the
creditor’s rights; When Party A deems it necessary, Party B is obliged to cooperate with Party A to take litigation and other legal compulsory
measures against the buyer of the commercial contract, and Party B shall bear the relevant expenses arising therefrom.

 

19. Party B agrees to bear
all the losses suffered by Party A as a result of Party A’s assignment of Party B’s accounts receivable to the debtor or a third
person whether or not within the validity period of this Contract.

 

20. Party B guarantees that
the account has not been and will not be sealed up, frozen or deducted by any competent authority.

 

21. Party B hereby irrevocably
promises that in case of any breach of obligations under this Contract, Party A may report the information of Party B’s breach of contract
and dishonesty to the People’s Bank of China and its established or approved credit investigation institutions and credit investigation
systems, or banking associations, banking supervisory institutions or other administrative/judicial/Supervisory departments and other
departments and their established or approved information management systems or news media shall submit and disclose them.

 

    17

     

    

 

At the same time, Party B irrevocably
authorizes relevant banking associations to share the information of Party B’s dishonesty among banking financial institutions and even
publicize it to the society in an appropriate way.

 

Party B knows that Party A has
the right to adopt various measures in accordance with this Contract, and knows that Party A has the right to take or Party A and other
banking financial institutions have the right to jointly take such joint disciplinary measures as reducing or stopping credit granting,
stopping opening new settlement accounts, and stopping new credit cards of legal representatives.

 

22. Party B hereby declares
and authorizes that Party A has the right to conduct necessary investigation on the credit status of Party B in accordance with national
laws, regulations and relevant policies, including inquiring Party B’s credit information from the basic database of financial credit
information established by the state, and according to the needs of the People’s Bank of China for credit investigation of construction
enterprises and individuals. The relevant credit information is submitted to the national financial credit information basic database,
which allows the relevant information to be legally queried within the authorized scope.

 

Party B hereby declares and
authorizes: Party A has the right to submit the information related to this Contract and other relevant information to the above-mentioned
departments, institutions and the information management systems established or approved by them according to the needs of relevant information
management work of administrative/judicial/supervision departments, banking regulatory institutions and banking associations, and hereby
allows the relevant information to be legally inquired.

 

23. Party B shall
recognize the legality and validity of all transaction information, record data, electronic contract and all relevant accounting
vouchers generated therefrom in the online financing system based on the electronic instructions submitted by Party B through
electronic signature;The above-mentioned transaction information, non-transaction data, electronic contract information generated
and stored by the online financing system, as well as the relevant paper documents, vouchers, records and other related information
made or retained by Party A, are recorded. Party B promises not to raise any objection because the above records, records, vouchers
and vouchers are made or retained by Party A unilaterally.

 

Article 11 Rights and Obligations
of Party A

 

1. Party A has the right to
require Party B to provide any bills and documents related to the accounts receivable at any time.

 

2. Party A shall enjoy all rights
related to the transferred accounts receivable, including but not limited to the right of collection, right of re-transfer, right of recourse,
right of defense and right of disposal of goods that may be rejected or returned by the buyer under the commercial contract.

 

    18

     

    

 

3. Party A has the right to
require Party B to buy back all the accounts receivable or exercise the right of recourse against Party B according to the Contract.

 

4. In case Party B breaches
the Contract, Party A shall have the right to deduct the corresponding amount from any account opened by Party B in all branches and subsidiaries
of Party A and Industrial Bank.

 

5. In case Party B
violates any of the obligations under the Contract, Party A shall have the right to report and disclose the information on Party B’s
breach of contract and dishonesty to the People’s Bank of China and its established or approved credit investigation institutions
and credit investigation systems, or banking associations, banking supervision institutions or other
administrative/judicial/supervisory departments and their established or approved information management systems or news media, and
take measures such as collection, litigation, Arbitration or apply to a notary public for the issuance of a certificate of execution
and other legal measures. At the same time, joint measures such as reducing or stopping credit granting, stopping opening new
settlement accounts and stopping new credit cards of legal representatives can be taken or jointly taken with other banking
financial institutions.

 

Article 12 Rights and Obligations
of Party B

 

1. Have the right to use the
Financing Funds in accordance with the Contract.

 

2. Assist Party A to complete
all formalities required for the services hereunder.

 

3. Party B shall pay the fees
agreed in the Contract on time.

 

4. Party B shall actively cooperate
with Party A to realize the transfer and collection of accounts receivable.

 

5. When Party A exercises the
right of recourse to the buyer of the commercial contract, Party B shall actively cooperate to promote the realization of Party A’s assigned
creditor’s rights.

 

6. Party B shall unconditionally
repurchase the transferred accounts receivable creditor’s rights in full according to Article VIII of the Contract.

 

7. Party B shall forward or
inform Party A of any documents and materials received by the Buyer related to the transferred accounts receivable and the information
about the commercial contract disputes within one working day from the date of receipt or information.

 

8. Cooperate with Party A to
provide relevant materials, inquire and handle transfer registration according to the relevant requirements of the registration of accounts
receivable of the competent authorities.

 

    19

     

    

 

Article 13 Liability for
Breach of Contract

 

1. Any of the following circumstances
shall constitute Party B’s breach of contract:

 

(1) Any guarantee and
commitment made by Party B in violation of Article 10 of the Contract;

 

(2) Party B violates
any of the obligations in Article 12 of the Contract;

 

(3) Party B violates
other provisions of the Contract;

 

(4) Overdue financing
due to no fault of Party A; and

 

(5) Party B’s other
bad behaviors such as overdue cash, advance payment and interest arrears in other credit business.

 

2. In case of any of the above
breaches, Party A shall have the right to take one or more of the following measures:

 

(1) To rectify the
breach of contract within a time limit;

 

(2) Stop issuing financing
funds or declare the financing to expire in advance;

 

(3) Rescission of the
contract;

 

(4) Require Party B
to repurchase the transferred creditor’s rights of accounts receivable;

 

(5) Deduct the outstanding
amount from any accounts opened by Party B in all branches and subsidiaries of Party A and Industrial Bank, including but not limited
to financing funds, financing interest, overdue interest, liquidated damages, damages, domestic factoring fees and other related expenses;

 

(6) To require Party
B to assume the liability for damages;

 

(7) to exercise or
enforce any rights under any guarantee relating to this Contract;

 

(8) Party A has the
right to report and disclose the information about Party B’s breach of contract and dishonesty to the People’s Bank of China and its established
or approved credit investigation agencies and credit investigation systems, or banking associations, banking supervision institutions
or other administrative/judicial/supervisory departments and their established or approved information management systems or news media.
At the same time, joint measures such as reducing or stopping credit granting, stopping opening new settlement accounts and stopping new
credit cards of legal representatives can be taken or jointly taken with other banking financial institutions to punish and safeguard
rights for dishonesty; and

 

(9) Other measures
stipulated by laws and regulations or agreed in the Contract or deemed appropriate by Party A.

 

3. Party A shall compensate
Party B for its direct economic loss if Party A fails to provide financing in accordance with the conditions precedent stipulated in the
Contract and causes losses to Party B. However, in any case, Party A shall not be liable for any foreseeable or unforeseeable indirect
losses incurred by Party B.

 

Article 14 Modification
and Termination of the Contract

 

1. Either party shall have
no right to amend this contract unilaterally without mutual consent of both parties.

 

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2. Party A may dissolve and
terminate the Contract in case of the following circumstances:

 

(1) There is a breach
of contract that may seriously affect the rights and interests of Party A;

 

(2) Both parties agree
to terminate the Contract;

 

(3) Major changes occur
in domestic laws, which have a significant impact on the factoring business under the Contract, so that it is difficult to continue to
perform; and

 

(4) Other circumstances
of force majeure.

 

Article 15 Application
of Law and Settlement of Dispute

 

1. The formation,
effectiveness, performance, dissolution, interpretation and dispute settlement of this Contract shall be governed by the laws of the
People’s Republic of China (for the purpose of this Contract, the laws of Hong Kong Special Administrative Region, Macao Special
Administrative Region and Taiwan Region are not included).

 

2. Any dispute arising from
this Contract shall be settled through friendly negotiation between Party A and Party B; In case no settlement can be reached through
friendly negotiation, both parties agree to settle the dispute in the second way as follows:

 

(I) To file a lawsuit
with the People’s Court in the place where Party A resides.

 

(II) To apply to Xiamen
Arbitration Commission for arbitration and to settle disputes by applying the arbitration rules of Xiamen Arbitration Commission in effect
at the time of arbitration. Within the scope permitted by the arbitration rules, both parties agree to choose the summary procedure for
the trial. The arbitration award shall be final and binding on the parties. The venue of the arbitration tribunal is Xiamen.

 

(III) Other means:/

 

3. During the dispute period,
the provisions of the contract that do not involve the dispute shall continue to be performed. Party B shall not refuse to perform any
of its obligations under the Contract on the ground of dispute settlement.

 

Article 16 Exchange of Documents,
Communications and Notices

 

1. Party B agrees and confirms
the following addresses as the notice items under the Contract and relevant legal documents such as litigation (arbitration) and notarization
in case of disputes(Including but not limited to all kinds of notices and documents of contracting parties; complaint (or application
for arbitration) and evidence, summons, notice of response, notice of proof, notice of hearing, order of payment and judgment (award)
served by court or arbitration tribunal)Lawsuit or arbitration hearing such as ruling, mediation letter, notice of execution, notice of
performance within a time limit, procedure for realizing security interest and legal documents at the stage of execution.

 

(1) Party B’s address:

 

Company name of
Party B: Xiamen Pop Culture Co., Ltd.

Address of Party
B: Room 102-23, Wanghai Road, Phase II, Software Park, Siming District, Xiamen City;

Postcode: 361000;
Tel: [*];

Contact person:
Rongdi Zhang.

 

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Name of designated
receiver (if any): /;

Address of income
agent: /;

Postcode: Dagger;Tel:
/.

 

(2) Party B agrees
and confirms that any of the following electronic communication addresses is also the effective address for service:

 

A. Fax reception, number:
/;

B. E-mail address:
/;

C. SMS, receiving number:
[*];

D. WeChat, WeChat number:
/;

E. QQ reception, number:
/.

 

2. The applicable period
of the service address stipulated in the first paragraph of this article includes the non-litigation stage and all stages such as
the first instance, the second instance, the retrial, the execution, the realization of the security real right procedure, the
supervision procedure and the compulsory execution notarization. In case of any change of the aforesaid address for service, Party B
shall notify Party A in advance in writing (during the litigation or arbitration, Party B shall also notify the arbitration tribunal
or the court in writing in advance, and notify the original notary office in writing if the compulsory notarization has been carried
out) to confirm the address for service and obtain the return receipt. If no notice is given in advance, it shall be deemed as no
change, and the corresponding legal consequences shall be borne by Party B itself, and the address for service agreed in the first
paragraph of this article shall still be deemed as the effective address for service.

 

3. Any document, communication,
notice or legal document, as long as it is sent to any address agreed in paragraph 1 of this article, shall be deemed to have been served
on the following dates (service on the designated agent shall be deemed to have been served on himself):

 

(1) By mail (including
express mail, ordinary mail and registered mail), the fifth working day after the date of mailing shall be regarded as the date of delivery;

 

(2) Fax, e-mail, mobile
phone short message, micro-mail, QQ or other electronic communication address, the date of sending is regarded as the date of delivery;
and

 

(3) In the case of
personal service, the date of receipt by the recipient shall be regarded as the date of service. If the addressee refuses to accept, the
server has the right to record the service process by taking photos and videos, and to retain the documents, which are also deemed to
be served.

 

    22

     

    

 

4. If the address provided or
confirmed by Party B is inaccurate or untrue, or Party B fails to notify the other Party And the arbitration institution, the people’s
court or the notary institution in time after the change of the address, Party B shall bear the corresponding legal consequences and be
deemed to have effectively served:

 

(1) If the document
is served by mail, the date on which the document is returned shall be regarded as the date of service;

 

(2) In the case of
personal service, the date on which the server records the circumstances on the receipt on the spot shall be the date of service; and

 

(3) In the case of
service by electronic means, the date of delivery shall be the date of delivery.

 

5. Party A’s address stated
in the Contract shall be the address for service. Where Party A sends the notice by means of announcement on its website, online bank,
telephone bank or business outlet, the date of announcement shall be regarded as the date of delivery. Under no circumstances shall Party
A be liable for any transmission error, omission or delay in the mail, fax, telephone or any other communication system.

 

6. The parties agree that the
official seal of the unit, the seal of the office, the special seal for finance, the special seal for contract, the seal for receiving
and dispatching, and the special stamp for credit business of Party A are all effective seals for notice or contact, service of legal
documents and correspondence of the parties. All staff members of Party B’s unit are authorized to sign for documents, communications
and notices.

 

7. This article is an independent
provision of the Contract, and shall not be affected by the validity of the Contract and other provisions of the Contract.

 

Article 17 Miscellaneous

 

1. Both parties agree that the
Contract is signed by electronic signature, and the electronic signature adopted by Party B during the use of online financing system
service function through Party A’s electronic channels (such as online banking) is a reliable electronic signature recognized by both
parties, and the adoption of such electronic signature has the same legal effect as Party B’s signature or seal.

 

2. The Contract shall come into
force on the date when Party B confirms its consent to the Contract in the form of electronic signature on the signing page of Party A’s
online financing system and submits the electronic instructions. The submission of the electronic order by Party B indicates that Party
B approves the legal effect of the Contract and the electronic order. After the Contract comes into effect, it does not constitute a definite
obligation for Party A to provide financing to Party B, and if Party A considers that the preconditions for financing release stipulated
in the Contract are not met after examination, the Contract shall be invalid from the date when Party A’s notice of termination of the
Contract is delivered to Party B as agreed by both parties.

 

3. During the effective period
of the Contract, any tolerance, grace or delay given by Party A to Party B and the Buyer in exercising the rights and interests or rights
under the Contract shall not damage, influence or limit all the rights and interests and rights that Party A shall enjoy in accordance
with relevant laws and regulations and the Contract, and shall not be deemed as Party A’s abandonment of the rights under the Contract
or affect any obligations of Party B hereunder.

 

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4. If at any time any provision
of this Contract is or becomes illegal, invalid or unenforceable in any respect, the legality, validity or enforceability of the other
provisions of this Contract shall not be affected or impaired in any way.

 

5. Party A has the right to
authorize or entrust other branches of Industrial Bank to perform the rights and obligations hereunder (including but not limited to entrusting
other branches of Industrial Bank to sign relevant contracts), or transfer the financing hereunder to Industrial Bank

Other branches undertake the
management, and Party A’s above-mentioned behavior does not need to obtain Party B’s consent separately.

 

6. The subheadings in this
Contract are inserted for convenience only and shall not be used for the interpretation of this Contract or any other purpose.

 

7. Appendices to the
Contract shall be integral parts of the Contract and have the same legal effect as the text of the Contract itself.

 

8. The Contract is kept in the
form of data message on the special service device set up by the factor for this purpose for future reference and safekeeping. Both parties
know and acknowledge that the contract in this form has legal effect. In case of any inconsistency between the contract contents printed
in paper and those in the form, the contract contents shown in the data message kept by Party A shall prevail.

 

Article 18 Notarization and
Voluntary Acceptance of Compulsory Enforcement

 

1. If any party hereto requires
notarization, the Contract shall be notarized by the notary public specified by the State.

 

2. The notarized contract has
the effect of enforcement. Where Party B fails to perform or improperly performs the debts, or Party A realizes the creditor’s rights
as stipulated in laws and regulations and this Contract, Party B agrees Party A to apply to the notary office for issuance of the enforcement
certificate with enforcement effect, and Party B voluntarily accepts the enforcement measures directly applied by Party A to the people’s
court with jurisdiction with the enforcement certificate, and knows the corresponding legal consequences. Party B promises not to raise
any objection or defense.

 

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3. All parties agree that
before the notary office issues the execution certificate, the notary office has the right to “exchange documents,
communication and notice” as agreed in the Contract“Clause”, Party B shall verify the facts of breach of contract
such as Party B’s non-performance or improper performance of debts by mail, telephone, fax, e-mail, mobile phone short message,
Wechat, QQ, personal service and interview. If the verification is made by means of telephone or interview, the interview or
telephone call shall be deemed to have been served at the end of the interview or telephone call;In case of verification by mail,
fax, e-mail, mobile phone short message, Wechat, QQ and personal delivery, the provisions of “document exchange, communication
and notice” in the Contract shall be implemented on the date of delivery.

 

4. If Party B has any objection
to the facts of breach of contract verified in the above paragraph, Party B shall submit written evidence and sufficient evidence to the
notary office within five working days from the date of service. If Party B fails to provide evidence on time or the public notary considers
that the evidence is insufficient to support its claim, it shall be deemed that Party B confirms the fact of non-performance or improper
performance of the debt and other related breach of contract, and agrees that the notary institution shall issue the implementation certificate
according to Party A’s application. Where the notarization institution has other provisions on the verification method and the proof period,
the provisions of the notarization institution shall prevail.

 

Article 19 Supplementary
Provision

 

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