Document:

yubo_ex104.htm

  EXHIBIT 10.4
  
 CERTAIN PERSONALLY IDENTIFIABLE INFORMATION CONTAINED
 IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED.
  
 Equity Pledge Agreement
  
 This Equity Pledge Agreement (this “Agreement”) has been executed by and among the following parties on September 11, 2020 in Beijing:
  
 Party A: Yubo International Biotech (Chengdu) Limited. (the “Pledgee”)
  
 Registered Address: 1201, 12 / F, unit 1, building 2, 368 Tianfu Second Street, Chengdu hi tech Zone
  
 Party B 1: Wang Jun
  
 Chinese Identification Card No.: [************]
  
 Party B 2: Wang Yang
  
 Chinese Identification Card No.: [************]
  
 Party B 3: Beijing Zhenxigu Medical Research Center (L.P.)
  
 Registered Address: Room 301, Building 23, No. 31, Xishiku Avenue, Xicheng District, Beijing
  
 Party B 4: Beijing Borong Hongtai Asset Management Center (L.P.)
  
 Registered Address: Room 601-273, No. 99, Yanmi Road, Xitian Gezhuang Town, Miyun District, Beijing
  
 Party B 5: Platinum Health Management (Tianjin) Center (L.P.)
  
 Registered Address: 217-43, Xinzhuang Economic Service Center, No. 818, Jingu Road, Xinzhuang Creative Industry Park, Xinzhuang Town, Jinnan District, Tianjin
  
 (Party B 1, Party B 2, Party B 3, Party B 4 and Party B 5 are collectively referred to as “Party B” or the “Pledgors”.)
  
 Party C: Platinum International Biotechnology (Beijing) Co., Ltd. 
  
 Registered Address: Room 108, Building 6, No. 31, Xishiku Avenue, Xicheng District, Beijing
  
 In this Agreement, each of Pledgee, Pledgors and Party C shall be referred to as a “Party” respectively, and they shall be collectively referred to as the “Parties”. 
  
 	 
	
	

	 

  
 WHEREAS:
  
 	 1.
	 Pledgors collectively own 100% of the equity interest in Party C;

	  
	  

	 2.
	 Party C acknowledges the respective rights and obligations of the Pledgors and the Pledgee under this Agreement and agrees to provide any necessary assistance in registering the Pledge Right as defined below;

	  
	  

	 3.
	 To ensure that Party C and the Pledgors fully perform their obligations under the Transaction Documents (as defined below), the Pledgors hereby pledge to the Pledgee all of the equity interest they hold in Party C as pledge guarantee for Party C's and the Pledgors' performance of the Transaction Documents. 

	  
	  

	 1.
	 Definitions

	  
	  

	  
	 Unless otherwise provided herein, the following terms shall have the following meanings:

	  
	  

	 1.1 
	 “Pledge Right” means the guarantee interest granted by the Pledgors to the Pledgee in accordance with Article 2 of this Agreement, i.e., the right of the Pledgee to be compensated in a preferential way with the proceeds from the conversion, auction or sale of the Equity Interest. 

	  
	  

	 1.2 
	 “Equity Interest” means all of the equity interest in Party C lawfully held now and acquired hereafter by the Pledgors. 

	  
	  

	 1.3
	 “Term of Pledge” means the term set forth in Article 3 hereof. 

	  
	  

	 1.4
	 “Transaction Documents” shall mean the Exclusive Consulting Service Agreement executed by and between Party C and the Pledgee on September 11, 2020 (the “Consulting Service Agreement”), the Exclusive Option Agreement executed by and among Party C, the Pledgee and the Pledgors on September 11, 2020 (the “Exclusive Option Agreement”), and Entrustment Agreement executed on September 11, 2020 with the Pledgors (the “Entrustment Agreement”) and any modification, amendment and restatement to the aforementioned documents. 

	  
	  

	 1.5
	 “Secured Indebtedness” means all direct, indirect and derivative losses and losses of foreseeable profits suffered by the Pledgee as a result of any Event of Default of the Pledgors and/or Party C or invalidity, cancellation or rescission of any Transaction Document. The basis for the amounts of such losses shall include, but not be limited to, the reasonable business plans and profit forecasts of the Pledgee, the service fees payable by Party C under the Consulting Service Agreement, all expenses incurred by the Pledgee in connection with its enforcement of the Pledgors' and/or Party C's obligations hereunder. 

  
 	 
	
	 EQUITY PLEDGE AGREEMENT
 - 2 -

	 

    
 	 1.6
	 “Event of Default” means any of the circumstances set forth in Article 7 hereof. 

	  
	  

	 1.7 
	 “Notice of Default” means the notice given by the Pledgee in accordance with this Agreement declaring an Event of Default. 

	  
	  

	 2. 
	 Pledge

	  
	  

	 2.1 
	 The Pledgors hereby pledge their 100% Equity Interest in Party C by them to the Pledgee by means of first priority pledge as guarantee for the repayment of the Secured Indebtedness. For the avoidance of doubt, the pledged property shall be all of the equity interest in Party C held by the Pledgors, representing RMB 10,000,000.00 of registered capital. 

	  
	  

	 2.2 
	 If any of the following events (each an “Event of Settlement”) occurs, the value of the Secured Indebtedness shall be determined based on the total amount of the Secured Indebtedness that are due, outstanding and payable to the Pledgee immediately prior to or on the date of occurrence of the Event of Settlement (the “Determined Indebtedness”):

  
 	  
	 (a) 
	 The Consulting Service Agreement expires or is terminated in accordance with the relevant provisions thereunder;

	  
	  
	  

	  
	 (b) 
	 The occurrence and failure to resolve an Event of Default set forth in Article 7 hereof, as a result of which the Pledgee gives a Notice of Default to the relevant Pledgor(s) in accordance with Article 7.3;

	  
	  
	  

	  
	 (c) 
	 Upon due inquiry, the Pledgee reasonably determines that the Pledgors and/or Party C is insolvent or could potentially be made insolvent; or

	  
	  
	  

	  
	 (d) 
	 Any other event that requires the determination of the Secured Indebtedness in accordance with the relevant laws of the PRC. 

   
 	 2.3 
	 For the avoidance of doubt, the date on which an Event of Settlement occurs shall be the settlement date (the “Settlement Date”). The Pledgee shall have the right, at its option, to realize the Pledge Right in accordance with Article 8 on or after the Settlement Date. 

	  
	  

	 2.4 
	 During the Term of Pledge (as defined below), the Pledgee is entitled to receive any dividends or other distributable benefits with respect to the Equity Interest. Without the Pledgee's prior written consent, the Pledgors shall not receive dividends distributed on the Equity Interest. 

	  
	  

	 2.5 
	 The Pledgors may subscribe for capital increase in Party C with the prior written consent of the Pledgee. Any equity interest obtained by the Pledgors as a result of any capital increase in Party C by them shall also be deemed as Equity Interest. 

  
 	 
	
	 EQUITY PLEDGE AGREEMENT
 - 3 -

	 

  
 	 3. 
	 Term of Pledge

	  
	  

	 3.1 
	 The Pledge shall become effective as of the date on which it is registered with the market supervision and administration authority (the “Registration Authority”) in the locality of Party C, and the term of the Pledge (the “Term of Pledge”) shall terminate until the obligation secured by the Pledge has been fully repaid or performed. The Parties agree that after the execution of this Agreement, they shall use their best efforts to submit an application for the creation and registration of pledge to the Registration Authority in accordance with the Measures for the Registration of Equity Pledge with the Administrative Authorities for Industry and Commerce, at the earliest date of the procedures prescribed by the Registration Authority. 

	  
	  

	 3.2 
	 During the Term of Pledge, in the event Party C fails to perform its obligations in accordance with the Transaction Documents, the Pledgee shall have the right, but not the obligation, to dispose of the Pledge in accordance with the provisions of this Agreement. 

	  
	  

	 3.3
	 The Pledgors and Party C shall promptly record the pledge of the Equity Interest contemplated herein in the shareholders' register of Party C upon the execution of this Agreement. 

	  
	  

	 4. 
	 Custody of Equity Interest Records subject to the Pledge

	  
	  

	 4.1 
	 During the Term of Pledge set forth in this Agreement, the Pledgors shall deliver to the Pledgee's custody the original of investment certificate and the original of shareholders' register recording the Pledge (and other documents reasonably requested by the Pledgee, including, without limitation, the Pledge Registration Notice issued by the market supervision and administration authority) as soon as possible from the date on which the Pledge is registered and created. The Pledgee shall have custody of such documents during the entire Term of Pledge set forth in this Agreement. 

	  
	  

	 4.2 
	 During the Term of Pledge, the Pledgee shall be entitled to collect dividends generated by the Equity Interest. 

	  
	  

	 5.
	 Representations and Warranties of Each Pledgor and Party C

	  
	  

	  
	 The Pledgors hereby represent and warrant to the Pledgee as follows:

	  
	  

	 5.1 
	 The Pledgors are the sole legal and beneficial owners of the Equity Interest and shall have lawful, good and full ownership of the Equity Interest, unless subject to the agreements otherwise executed by and between the Pledgors and the Pledgee. 

	  
	  

	 5.2 
	 The Pledgors shall have the right to dispose of and transfer the Equity Interest in accordance with the provisions of this Agreement. 

	  
	  

	 5.3 
	 Except for the Pledge Right, the Pledgors have created no security interest or other encumbrance on the Equity Interest, and the ownership of the Equity Interest is not disputed, or subject to attachment or other legal proceedings, or similar threatened action, in which the Equity Interest may be used for pledge and transfer in accordance with applicable laws. 

   
 	 
	
	 EQUITY PLEDGE AGREEMENT
 - 4 -

	 

  
 	 5.4 
	 The Pledgors' execution of this Agreement and exercise of their rights hereunder or performance of their obligations hereunder will not violate any laws or regulations, any agreements or contracts to which the Pledgors are a party, or any covenants made by the Pledgors to any third party. 

	  
	  

	 5.5 
	 All documents, information, statements and certificates provided by the Pledgors to the Pledgee are accurate, true, complete and valid. 

	  
	  

	 5.6 
	 The Pledgors hereby warrant to the Pledgee that the above mentioned representations and warranties shall remain true and correct and be fully complied with under any circumstances at any time prior to the full performance of the obligations hereunder or the full repayment of the Secured Indebtedness. 

	  
	  

	  
	 Party C represents and warrants to the Pledgee as follows:

	  
	  

	 5.7 
	 Party C is a limited liability company registered, incorporated and lawfully existing under the laws of the PRC with independent legal person status; it has full and independent civil and legal capacity to execute, deliver and perform this Agreement. 

	  
	  

	 5.8 
	 Upon due execution of this Agreement by Party C, the legal and valid obligations binding on Party A is hereby constituted. 

	  
	  

	 5.9 
	 Party C has full internal right and authority to execute and deliver this Agreement and all other documents relating to the transactions contemplated hereby, and has full right and authority to consummate the transactions contemplated hereby. 

	  
	  

	 5.10 
	 There is no material security interest or other encumbrance on the assets owned by Party C, which may affect the rights and interests of the Pledgee in the Equity Interest. 

	  
	  

	 5.11 
	 There are no pending or, to the knowledge of Party C, threatened litigation, arbitration or other legal proceedings before any court or arbitral tribunal with respect to the Equity Interest, Party C or its assets, nor are there pending or, to the knowledge of Party C, threatened administrative procedures or penalty before any governmental or administrative authority with respect to the Equity Interest, Party C or its assets, which will have material or adverse effect on the economic condition of Party C or the Pledgors' ability to perform their obligations and guarantee liability hereunder. 

	  
	  

	 5.12
	 Party C hereby agrees to bear joint and several liability to the Pledgee for all or any of the Pledgors made hereunder. 

	  
	  

	 5.13
	 Party C hereby warrants to the Pledgee that the foregoing representations and warranties will remain true and correct and be fully complied with under any circumstances at any time prior to full performance of the obligations hereof or full satisfaction of the Secured Indebtedness. 

   
 	 
	
	 EQUITY PLEDGE AGREEMENT
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 	 6. 
	 Covenants and Further Agreements of the Pledgors and Party C

	  
	  

	  
	 The Pledgors covenant and further agree as follows:

	  
	  

	 6.1 
	 During the validity term of this Agreement, the Pledgors hereby covenant to the Pledgee that:

   
 	  
	 6.1.1
	 Except for the performance of the Exclusive Option Agreement executed by the Pledgors, the Pledgee and Party C on September 11, 2020, without the prior written consent of the Pledgee, the Pledgors shall not transfer, or agree to others' transfer of, all or any part of the Equity Interest, create or permit to be created any security interest or other encumbrance which may affect the rights and interests of the Pledgee in the Equity Interest;

	  
	  
	  

	  
	 6.1.2 
	 The Pledgors shall comply with all laws and regulations applicable to the pledge of rights, show any notice, order or recommendation issued or prepared by relevant competent authorities (or any other relevant authority) in connection with the Pledge Right to the Pledgee within five (5) days after the receipt of the same, and comply with such notice, order or recommendation, or make objections and representations with respect to such matters as reasonably requested by the Pledgee or upon approval of the Pledgee;

	  
	  
	  

	  
	 6.1.3
	 The Pledgors shall promptly notify the Pledgee of any event or notice received by the Pledgors which may have effect on the Pledgee's rights in the Equity Interest or any portion thereof, together with any event or notice received by the Pledgors which may have effect on any warranty and other obligations of the Pledgors arising out of this Agreement. 

   
 	 6.2 
	 The Pledgors agree that the Pledge Right acquired by the Pledgee in accordance with this Agreement shall not be suspended or prejudiced by the Pledgors or any of their successors or representatives or any other person through legal proceedings. 

	  
	  

	 6.3 
	 To protect or perfect the security interest granted hereby, including the payment of the consulting and services fees under the Consulting Service Agreement and the performance of the Transaction Documents, the Pledgors hereby covenant to execute in good faith and cause other parties who have interest in the Pledge Right to execute all certificates, agreements, deeds and/or covenants requested by the Pledgee. The Pledgors further covenant to take and cause other parties who have interest in the Pledge Right to take actions requested by the Pledgee, facilitate the exercise by the Pledgee of the rights and authority granted by this Agreement, and enter into all relevant documents regarding the ownership of the Equity Interest with the Pledgee or its designees (natural persons/legal persons). The Pledgors covenant to provide the Pledgee with all notices, orders and decisions requested by the Pledgee in connection with the Pledge Right within a reasonable period. 

   
 	 
	  

	 EQUITY PLEDGE AGREEMENT
 - 6 -

	 

  
 	 6.4 
	 The Pledgors hereby covenant to the Pledgee that they will comply with and perform all warranties, covenants, agreements, representations and conditions hereunder. In the event of failure or failure of full performance of their warranties, covenants, agreements, representations and conditions, the Pledgors shall indemnify the Pledgee for all losses caused thereby. 

	  
	  

	 6.5 
	 If any compulsory measures are imposed on the Equity Interest pledged hereunder by court or other governmental authorities due to any reason, the Pledgors shall use all endeavors, including, without limitation, provision of other warranties to the court or adoption of other measures, to release such compulsory measures taken by court or other authorities with respect to the Equity Interest. 

	  
	  

	 6.6 
	 Without the prior written consent of the Pledgee, the Pledgors and/or Party C shall not (or assist others to) increase, decrease or transfer the registered capital of Party C (or amount of capital contribution to Party C) or create any encumbrance thereon (including the Equity Interest). 

	  
	  

	 6.7 
	 Unless the Pledgee gives prior written instructions to the contrary, the Pledgors and/or Party C agree that if all or any part of the equities are transferred between the Pledgors and any third party (the “Equity Transferee”) in violation of this Agreement, the Pledgors and/or Party C shall ensure that the Equity Transferee shall unconditionally acknowledge the Pledge Right and complete necessary pledge change registration formalities (including, without limitation, execution of relevant documents) to procure the existence of the Pledge Right. 

	  
	  

	  
	 Party C covenants and further agrees as follows:

	  
	  

	 6.8 
	 If the execution and performance hereof and the Equity Pledge hereunder require consent, permit, waiver or authorization of any third party or approval, permit or exemption of any governmental authority or completion of registration or filing formalities with any governmental authority (if required by law), Party C will endeavor to assist in obtaining and keeping them fully valid during the validity term hereof. 

	  
	  

	 6.9 
	 Without the prior written consent of the Pledgee, Party C shall not assist or permit the Pledgors to create any new pledge or grant any other security interest on the Equity Interest, nor shall it assist or permit the Pledgors to transfer the Equity Interest. 

	  
	  

	 6.10 
	 Without the prior written consent of the Pledgee, Party C shall not transfer its assets, create or permit to be created any security interest or other encumbrance on its assets which may affect the rights and interests of the Pledgee in the Equity Interest. 

   
 	 
	
	 EQUITY PLEDGE AGREEMENT
 - 7 -

	 

  
 	 6.11 
	 If there is any lawsuit, arbitration or other claims likely to have adverse effect on Party C, the Equity Interest or the interests of the Pledgee under the Transaction Documents and this Agreement, Party C warrants that it will notify the Pledgee in writing as soon as possible without delay and take all necessary measures as reasonably requested by the Pledgee to ensure the Pledgee's pledge interests in the Equity Interest. 

	  
	  

	 6.12 
	 Party C will not do or permit any act or action likely to have adverse effect on the interests of the Pledgee under the Transaction Documents and this Agreement. 

	  
	  

	 6.13
	 Party C warrants that it will take all necessary measures and execute all necessary documents as reasonably requested by the Pledgee to ensure the Pledgee's pledge interests in the Equity Interest together with the exercise and realization by the Pledgee of such interests. 

	  
	  

	 6.14 
	 If the exercise of the Pledge Right hereunder results in the transfer of any Equity Interest, Party C warrants that it will take all measures to complete such transfer. 

	  
	  

	 7. 
	 Event of Breach

	  
	  

	 7.1 
	 Any violation by either Party hereto of any of its obligations hereunder shall be deemed as an Event of Default. 

	  
	  

	 7.2 
	 Upon knowledge or discovery of any circumstance set forth in Article 7.1 or the occurrence of any event that may lead to such circumstance, the Pledgors shall promptly notify the Pledgee in writing accordingly. 

	  
	  

	 7.3 
	 Unless an Event of Default set forth in this Article 7.1 has been successfully resolved to the Pledgee within thirty (30) days after the date of notice from the Pledgee, the Pledgee may give a Notice of Default to the Pledgors when an Event of Default occurs or at any time after the occurrence of an Event of Default, requesting the Pledgor to exercise of the Pledge Right in accordance with the provisions of Article 8 of this Agreement. 

	  
	  

	 8. 
	 Exercise of Pledge Right

	  
	  

	 8.1 
	 The Pledgee shall issue a Notice of Default to the Pledgors when it exercises the Pledge Right. 

	  
	  

	 8.2 
	 Subject to the provisions of Article 7.3, the Pledgee may exercise the right to enforce the Pledge Right at any time after the issuance of the Notice of Default in accordance with Article 8.1. Once the Pledgee elects to enforce the Pledge Right, the Pledgors shall have no rights or interests in the Equity Interest. 

   
 	 
	
	 EQUITY PLEDGE AGREEMENT
 - 8 -

	 

  
 	 8.3 
	 In the event of default, to the extent permitted, and in accordance with applicable laws, the Pledgee has the right to dispose of the pledged Equity Interest in accordance with law. After all the monies received by the Pledgee from the exercise of the Pledge Right are satisfied for paying off the Secured Indebtedness, the remaining amount shall be paid to the Pledgors or the persons entitled to it (without any interest accrued thereon). 

	  
	  

	 8.4 
	 The Pledgee is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf, and Pledgors or Party C shall not raise any objectionto such exercise. 

	  
	  

	 8.5 
	 When the Pledgee disposes of the Pledge Right in accordance with this Agreement, the Pledgors and Party C shall provide necessary assistance so that the Pledgee can enforce the Pledge Right in accordance with this Agreement. 

	  
	  

	 8.6 
	 All out-of-pocket expenses, taxes and all legal costs relating to the creation of the Pledge and the realization of the Pledgee's rights hereunder shall be borne by the Pledgors, except for those borne by the Pledgee in accordance with laws. 

	  
	  

	 9. 
	 Assignment

	  
	  

	 9.1 
	 Without the prior written consent of the Pledgee, the Pledgors shall not assign or delegate their rights and obligations under this Agreement. 

	  
	  

	 9.2 
	 This Agreement shall be binding on the Pledgors and his/her successors and permitted assigns, and shall be valid with respect to the Pledgee and each of his/her successors and assigns. 

	  
	  

	 9.3 
	 At any time, the Pledgee may assign any and all of its rights and obligations under the Transaction Documents to its designee(s) (natural/legal persons), in which case the assigns shall have the rights and obligations of the Pledgee hereunder, as if they were the original Party hereto. When the Pledgee assigns the rights and obligations under the Transaction Documents, upon request by the Pledgee, the Pledgors shall execute relevant agreements or other documents in connection with such assignment. 

	  
	  

	 9.4 
	 In the event of change of the Pledgee due to assignment, upon request by the Pledgee, the Pledgors shall enter into a new pledge agreement with the new pledgee on the same terms and conditions as those of this Agreement. 

	  
	  

	 9.5 
	 The Pledgors shall strictly comply with the provisions of this Agreement and other contracts or agreements jointly or severally executed by the Parties hereto or any of them, including the Exclusive Option Agreement and the Entrustment Agreement to authorize the Pledgee, perform the obligations hereunder and thereunder and refrain from any act/omission that may affect the validity and enforceability hereof and thereof. The Pledgors shall not exercise any remaining rights in the Equity Interest pledged hereunder unless in accordance with the written instructions given by the Pledgee. 

   
 	 
	
	 EQUITY PLEDGE AGREEMENT
 - 9 -

	 

  
 	 10. 
	 Termination

	  
	  

	  
	 Upon the full fulfillment of the rights and obligations under the Transaction Documents, this Agreement shall terminate and the Pledgee shall cancel or terminate this Agreement as soon as reasonably practicable. 

	  
	  

	 11. 
	 Handling Fees and Other Expenses

	  
	  

	  
	 All fees and out of pocket expenses relating to this Agreement, including but not limited to attorneys' fee, costs of production, stamp duty and any other taxes and fees, shall be borne by Party C. If the Pledgee is required to bear relevant taxes and fees by applicable laws, the Pledgors shall cause Party C to fully reimburse all taxes and fees already paid by the Pledgee. 

	  
	  

	 12. 
	 Confidentiality

	  
	  

	  
	 The Parties acknowledge that any oral or written information exchanged in connection with this Agreement shall be considered as Confidential Information. Each Party shall keep all such information confidential and shall not disclose any relevant information to any third party without the written consent of the other Parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party's disclosure to the public); (b) is required to be disclosed in accordance with applicable laws or rules or provisions of any stock exchange; or (c) is required to be disclosed by any Party to its shareholders, directors, employees, counsels or financial advisors in connection with the transactions contemplated hereby, provided, however, that such shareholders, directors, employees, counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this article. If the staff or agencies engaged by any Party disclose any confidential information, such Party shall be deemed to have disclosed such confidential information and shall bear legal liability for breach of this Agreement. This article shall survive the termination of this Agreement for any reason. 

	  
	  

	 13. 
	 Governing Law and Resolution of Disputes

	  
	  

	 13.1 
	 The execution, effectiveness, interpretation and performance of this Agreement and resolution of disputes hereunder shall be governed by the formally promulgated and publicly available laws of the PRC. Any matters not covered by formally promulgated and publicly available laws of the PRC shall be governed by international legal principles and practices. 

	  
	  

	 13.2
	 Any dispute arising from the interpretation and performance of the provisions of this Agreement shall be resolved by the Parties through consultation in good faith. If the Parties fail to agree upon the resolution of a dispute within thirty (30) days after any Party's request to resolve such dispute through consultation, any Party may submit the dispute to the China International Economic and Trade Arbitration Commission for arbitration in accordance with the Commission's arbitration rules then in effect. The arbitration shall be conducted in Beijing and conducted in the Chinese language. The arbitration award shall be final and binding on both Parties. 

   
 	 
	
	 EQUITY PLEDGE AGREEMENT
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 	 13.3 
	 Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement. 

	  
	  

	 14. 
	 Notices

	  
	  

	 14.1 
	 All notices and other communications required or permitted to be given in accordance with this Agreement shall be personally delivered or sent by registered mail, postage prepaid, commercial courier service, facsimile or email to the address of such Party set forth below. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

   
 	  
	 14.1.1 
	 Notices given by personal delivery, courier service or registered mail, postage prepaid, shall be deemed effectively given on the date of delivery or refusal at the mailing address specified for notices. 

	  
	  
	  

	  
	 14.1.2 
	 Notices given by facsimile or email shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission). 

   
 	 14.2
	 For the purpose of notices, the addresses of the Parties are as follows:

	  
	  

	  
	 Party A:

	  
	 Address: [************]

	  
	 Attn: Wang Yanxin

	  
	 E-mail: [************]

	  
	 Phone: [************]

	  
	  

	  
	 Party B:

	  
	 Address: [************]

	  
	 Attn: Wang Yanxin

	  
	 E-mail: [************]

	  
	 Phone: [************]

	  
	  

	  
	 Party C: 

	  
	 Address: [************]

	  
	 Attn: Wang Yanxin

	  
	 E-mail: [************]

	  
	 Phone: [************]

	  
	  

	 14.3 
	 Any Party may change its mailing address for notices at any time by giving a notice to the other Parties in accordance with this article. 

   
 	 
	
	 EQUITY PLEDGE AGREEMENT
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 	 15. 
	 Severability

	  
	  

	  
	 If one or more of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions hereof shall not be affected or compromised in any respect. The Parties shall strive through consultation in good faith to replace such invalid, illegal or unenforceable provisions with valid provisions to the greatest extent permitted by laws and expected by the Parties, and the economic effect of such valid provisions shall be as close as possible to the economic effect of such invalid, illegal or unenforceable provisions. 

	  
	  

	 16. 
	 Effectiveness

	  
	  

	 16.1 
	 Any amendment, modification and supplement to this Agreement shall be made in writing and become effective after the Parties affix their signatures or seals and complete governmental registration procedures, if applicable. 

	  
	  

	 16.2 
	 This Agreement is written in the Chinese language in eight (8) counterparts. Each of the Pledgors, the Pledgee and Party C shall hold one (1) copy. One (1) copy shall be submitted to the Registration Authority. Each counterpart of this Agreement shall have the same force and effect. 

  
 [The remainder of this page is intentionally left blank]
  
 	 
	
	 EQUITY PLEDGE AGREEMENT
 - 12 -

	 

  
 IN WITNESS WHEREOF, the Parties have executed this Equity Pledge Agreement as of the date first above written. 
  
 Party A: Yubo International Biotech (Chengdu) Limited. (Seal)
  
 By: 
  
 Name: Wang Jun
  
 Title: Legal Representative
  
 	 
	
	

	 

  
 IN WHEREOF, the Parties have executed this Equity Pledge Agreement as of the date first above. 
  
 Party B:
  
 Wang Jun
  
 By:
   
 Wang Yang
  
 By:
  
 Beijing Zhenxigu Medical Research Center (L.P.) (Seal)
  
 By:
  
 Name: Yulin Cao
  
 Title: Authorized Representative
  
 Beijing Borong Hongtai Asset Management Center (L.P.) (Seal)
  
 By:
  
 Name: Liu Lina
  
 Title: Authorized Representative
  
 	 
	
	

	 

  
 Platinum Health Management (Tianjin) Centre (L.P.) (Seal)
  
 By:
  
 Name: Jin Jin
  
 Title: Authorized Representative
  
 IN WITNESS WHEREOF, the Parties have executed this Equity Pledge Agreement as of the date first above written. 
  
 Party C: Yubo International Biotechn (Beijing) Limited. (Seal)
  
 By:
  
 Name: Jun Wang
  
 Title: Legal Representativeyubo_ex105.htm

EXHIBIT 10.5
  
 CERTAIN PERSONALLY IDENTIFIABLE INFORMATION CONTAINED 
 IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED.
  
 Exclusive Option Agreement
  
  
 This Exclusive Option Agreement (this "Agreement") is executed by and among the following Parties on September 11, 2020 in Beijing, PRC:
  
 Party A: Yobo International Biotech (Chengdu) Limited
  
 Registered Address: 1201, 12 / F, unit 1, building 2, 368 Tianfu Second Street, Chengdu hi tech Zone
  
 Party B 1: Wang Jun
  
 Chinese Identification Card No.: [************]
  
 Party B 2: Wang Yang
  
 Chinese Identification Card No.: [************]
  
 Party B 3: Beijing Zhenxigu Medical Research Center (L.P.)
  
 Registered Address: Room 301, Building 23, No. 31, Xishiku Avenue, Xicheng District, Beijing
  
 Party B 4: Beijing Borong Hongtai Asset Management Center (L.P.)
  
 Registered Address: Room 601-273, No. 99, Yanmi Road, Xitian Gezhuang Town, Miyun District, Beijing
  
 Party B 5: Platinum Health Management (Tianjin) Center (L.P.)
  
 Registered Address: 217-43, Xinzhuang Economic Service Center, No. 818, Jingu Road, Xinzhuang Town, Jinnan District, Tianjin
  
 (Party B 1, Party B 2, Party B 3, Party B 4 and Party B 5 are collectively referred to as "Party B".)
  
 Party C: Yubo International Biotech (Beijing) Limited 
  
 Registered Address: Room 108, Building 6, No. 31, Xishiku Avenue, Xicheng District, Beijing
  
  
 EXCLUSIVE OPTION AGREEMENT
 	  

	
	

	 

  
 WHEREAS:
  
 Party B collectively holds 100% of the equity interest in Party C; and Party B intends to collectively grant to Party A an irrevocable and exclusive option to purchase all the equity interests in Party C. 
  
 Now therefore, upon mutual discussion and negotiation, the Parties have reached the following agreement:
  
 	 1.
	 Sale and Purchase of Equity Interest

	  
	  

	 1.1
	 Option Granted

	  
	  

	  
	 Party B hereby irrevocably grants to Party A an irrevocable and exclusive option to purchase, or designate one or more persons (each, a "Designee") to purchase the equity interests in Party C then held by Party B once or at multiple times at any time in part or in whole at Party A's sole and absolute discretion to the extent permitted by PRC laws, at the price described in Section 1.3 herein (such option being the "Equity Interest Purchase Option"). Except for Party A and the Designee(s), no other third Person shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity interests of Party B. Party C hereby agrees to the grant by Party B of the Equity Interest Purchase Option to Party A. The "person" referred to in this section and this Agreement shall mean individuals, companies, joint ventures, partnerships, enterprises, trusts or unincorporated organizations. 

	  
	  

	 1.2 
	 Steps for Exercise

	  
	  

	  
	 Party A's exercise of the Equity Interest Purchase Option shall be subject to the provisions of the laws and regulations of PRC. Party A may exercise the Equity Interest Purchase Option by issuing a written notice to Party B (the "Equity Interest Purchase Option Notice"), specifying: (a) Party A's decision to exercise the Equity Interest Purchase Option; (b) the portion of equity interests to be purchased from Party B (the "Optioned Interests"); and (c) the date for purchasing the Optioned Interests and/or the date for transfer of the Optioned Interests. Party A and/or the Designee(s) shall have all the rights to the Optioned Interests as set forth in the Equity Interest Purchase Option Notice(s), including, without limitation, the voting rights, information rights, dividend rights and liquidation and distribution rights. Party B and Party C shall take all necessary actions to ensure completion of the relevant industrial and commercial change registration as soon as practicable. 

	  
	  

	 1.3     
	 Equity Interest Purchase Price and Payment

	  
	  

	  
	 Unless such appraisal is required by the laws of PRC at the time when Party A exercises the Equity Interest Purchase Option, the purchase price of the Optioned Interests (the "Equity Interest Purchase Price") shall be the lowest price allowed by the applicable laws. After all necessary tax withholdings of the Equity Interest Purchase Price have been made in accordance with the laws of PRC, the Equity Interest Purchase Price shall be paid by Party A to the account designated by Party B within seven (7) days after the Optioned Interests are duly registered under the name of Party A. 

	  
	  

	 1.4   
	 Transfer of Optioned Interests

	  
	  

	  
	 When Party A exercises the Equity Interest Purchase Option each time,

   
 	  
	 1.4.1
	 Party B shall cause Party C to promptly convene a shareholders' meeting, at which a resolution shall be adopted approving Party B's transfer of the Optioned Interests to Party A and/or the Designee(s);

  
  
 EXCLUSIVE OPTION AGREEMENT
 	 
	
	

	 

    
 	  
	 1.4.2  
	 Party B shall execute a share transfer contract with respect to each transfer with Party A and/or each Designee (whichever is applicable), in accordance with the provisions of this Agreement and the Equity Interest Purchase Option Notice regarding the Optioned Interests;

	  
	  
	  

	  
	 1.4.3
	 The relevant Parties shall execute all other necessary contracts, agreements or documents (including, without limitation, amendment to the articles of association), obtain all necessary governmental licenses and permits (including, without limitation, business license) and take all necessary actions to transfer valid ownership of the Optioned Interests to Party A and/or the Designee(s), free and clear of any security interests and other encumbrances, and cause Party A and/or the Designee(s) to become the registered owner(s) of the Optioned Interests. For the purpose of this Section and this Agreement, "security interests" shall include security, mortgages, third party's rights or interests, any stock options, acquisition right, right of first refusal, right to offset, ownership retention or other security arrangements; however, for the avoidance of doubt, "security interests" shall not include any security interest created by this Agreement, Party B's Equity Pledge Agreement and Party B's Entrustment Agreement. "Party B's Equity Pledge Agreement" as used in this Section and this Agreement shall refer to the Equity Pledge Agreement ("Equity Pledge Agreement", see Appendix I hereto) executed by and among Party A, Party B and Party C on the date hereof, as well as any modification, amendment and restatement thereto. "Party B's Entrustment Agreement" as used in this Section and this Agreement shall refer to the Entrustment Agreement executed by Party B to authorize Party A on the date hereof ("Entrustment Agreement", see Appendix II hereto) as well as any modification, amendment and restatement thereto. 

   
 	 2. 
	 Covenants

	  
	  

	 2.1 
	 Covenants Relating to Party C

	  
	  

	  
	 Party B (as the shareholders of Party C) and Party C hereby covenant as follows:

                  
 	  
	 2.1.1
	 Without the prior written consent of Party A, they shall not in any manner supplement, change or amend the articles of association and bylaws of Party C, increase or decrease its registered capital or change its structure of registered capital in other manners;

	  
	  
	  

	  
	 2.1.2
	 They shall maintain Party C's corporate existence in accordance with good financial and business standards and practices by prudently and effectively conducting its business and transacting its affairs and Party C shall (and Party B shall cause Party C to) perform its obligations under the Exclusive Consulting Service Agreement (as defined in Appendix I hereto);

	  
	  
	  

	  
	 2.1.3

 Without the prior written consent of Party A, they shall not at any time following the date hereof, sell, transfer, mortgage or dispose of in any manner any assets of Party C or legal or beneficial interest in the business or revenues of Party C of more than RMB500,000, or allow the encumbrance thereon of any Security Interests;
  
  
 EXCLUSIVE OPTION AGREEMENT
 	 

 	
	

	 

     
 	  
	 2.1.4  
	 Without the prior written consent of Party A, they shall not incur, inherit, guarantee or permit the existence of any debt, except for (i) debt incurred in the ordinary course of business; and (ii) debts disclosed to and approved by Party A's written consent;

	  
	  
	  

	  
	 2.1.5
	 They shall always conduct all the business of Party C in the ordinary course of business to maintain the asset value of Party C and refrain from any act/omission that may affect Party C's operating status and asset value;

	  
	  
	  

	  
	 2.1.6
	 Without the prior written consent of Party A, Party C shall (and Party B shall cause Party C to) not enter into any major contract, except the contracts in the ordinary course of business (for purpose of this subsection, a contract shall be deemed a major contract if its value exceeds RMB500,000);

	  
	  
	  

	  
	 2.1.7 
	 Without the prior written consent of Party A, Party C shall (and Party B shall cause Party C to) not to provide any Person with loan or credit or any form of security;

	  
	  
	  

	  
	 2.1.8
	 They shall provide Party A with information on Party C's business operations and financial condition at Party A's request;

	  
	  
	  

	  
	 2.1.9
	 If requested by Party A, they shall procure and maintain insurance on assets and business of Party C, at an amount and type of coverage typical for companies that operate similar businesses, with an insurance company acceptable to Party A;

	  
	  
	  

	  
	 2.1.10 
	 Without the prior written consent of Party A, Party C shall (and Party B shall cause Party C to) not merge or consolidate with any Person, acquire or invest in any Person, or sell its assets with value of more than RMB500,000;

	  
	  
	  

	  
	 2.1.11
	 They shall promptly notify Party A of any litigation, arbitration or administrative proceedings initiated or threatened in relation to Party C's assets, business or income;

	  
	  
	  

	  
	 2.1.12
	 To retain Party C's title to all of its assets, they shall execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or make necessary and appropriate defenses against all claims;

	  
	  
	  

	  
	 2.1.13 
	 Without the prior written consent of Party A, Party C shall (and Party B shall ensure that Party C shall) not distribute dividends to its shareholders in any form; provided, however, that Party C shall promptly distribute all distributable profits to its shareholders upon written request by Party A;

	  
	  
	  

	  
	 2.1.14
	 Unless mandatorily required by the laws of PRC, without the written consent of Party A, Party C (and Party B shall ensure that Party C) shall not be dissolved or liquidated; and

	  
	  
	  

	  
	 2.1.15
	 Upon request by Party A, they shall appoint any Person designated by Party A as the director of Party C and/or remove the incumbent director of Party C. 

   
   
 EXCLUSIVE OPTION AGREEMENT
 	 
	
	

	 

   
 	 2.2
	 Covenants of Party B

	  
	  

	  
	 Party B hereby covenants that:

  
 	  
	 2.2.1
	 Without the prior written consent of Party A, it shall not sell, transfer, mortgage or dispose of in any other manner any lawful or beneficial interest in its equity interests in Party C or permit the encumbrance thereon of any Security Interests, other than the pledge placed on these equity interests in accordance with Party B's Equity Pledge Agreement and Party B's Entrustment Agreement;

	  
	  
	  

	  
	 2.2.2
	 If Party B receives any proceeds, profit distribution or dividends from Party C, to the extent permitted by the laws of the PRC, it shall promptly pay or transfer such proceeds, profit distribution or dividends to Party A or the party designated by Party A for the benefit of Party C as the service fee payable by Party C to Party A under the Exclusive Consulting Service Agreement;

	  
	  
	  

	  
	 2.2.3 
	 It shall cause the shareholders' meeting and/or the board of directors of Party C not to approve the sale, transfer, mortgage or other disposition of any lawful or beneficial interest in its equity interests in Party C or permit the encumbrance thereon of any Security Interests, without the prior written consent of Party A, other than the pledge placed on these equity interests in accordance with Party B's Equity Pledge Agreement and Party B's Entrustment Agreement;

	  
	  
	  

	  
	 2.2.4
	 It shall cause the shareholders' meeting and/or the board of directors of Party C not to approve merger or consolidation with any Person or acquisition of or investment in any Person, without the prior written consent of Party A;

	  
	  
	  

	  
	 2.2.5 
	 It shall promptly notify Party A of any litigation, arbitration or administrative proceedings initiated or threatened in relation to its equity interest in Party C;

	  
	  
	  

	  
	 2.2.6
	 It shall cause the shareholders' meeting and/or the board of directors of Party C to approve the transfer of the Optioned Interests hereunder and take any and all other actions that Party A may request;

	  
	  
	  

	  
	 2.2.7
	 To retain its ownership of its equity interest in Party C, it shall execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or make necessary and appropriate defenses against all claims;

	  
	  
	  

	  
	 2.2.8
	 Upon request by Party A, it shall appoint any Person designated by Party A as the director or the executive director of Party C;

	  
	  
	  

	  
	 2.2.9 
	 Upon request by Party A at any time, it shall promptly and unconditionally transfer its equity interest in Party C to the Designee (s) of Party A based on the Equity Call Option hereunder, and Party B hereby waives the right of first refusal, if any, with respect to the equity transfer by the other shareholders of Party C; and

	  
	  
	  

	  
	 2.2.10
	 It shall strictly abide by the provisions of this Agreement and other contracts or agreements jointly or separately executed by and among Party B, Party C and Party A, perform its obligations hereunder and thereunder and refrain from any act/omission that may affect the validity and enforceability thereof. If Party B has any remaining rights with respect to the equity interest under this Agreement or the Equity Interest Pledge Agreement among the Parties hereto or under the Entrustment Agreement (as defined in Appendix 1 hereto) granted in favor of Party A, Party B shall not exercise such rights, unless according to the written instructions given by Party A. 

  
  
 EXCLUSIVE OPTION AGREEMENT
 	 
	
	

	 

  
 	 3. 
	 Representations and Warranties

	  
	  

	  
	 Party B and Party C hereby represent and warrant to Party A, jointly and severally, as of the date of this Agreement and each date of transfer of the Optioned Interests, that:

	  
	  

	 3.1
	 They have the authority to authorize the execution and delivery of this Agreement and any equity interest transfer contracts or agreements to which they are parties relating to the Optioned Interests to be transferred thereunder (each, a "Transfer Contract"), and to perform their obligations under this Agreement and any Transfer Contracts. Party B and Party C agree to enter into Transfer Contracts consistent with the terms of this Agreement upon Party A's exercise of the Equity Interest Purchase Option. This Agreement and the Transfer Contracts to which they are parties constitute or will constitute their legal, valid and binding obligations and shall be enforceable against them in accordance with the provisions thereof;

	  
	  

	 3.2 
	 The execution and delivery of this Agreement or any Transfer Contracts and the obligations under this Agreement or any Transfer Contracts shall not: (i) cause any violation of any laws of PRC applicable to them; (ii) be inconsistent with the articles of association, bylaws or other organizational documents of Party C; (iii) cause any breach of any contracts or instruments to which they are a party or which are binding on them, or constitute any breach under any contracts or instruments to which they are a party or which are binding on them; (iv) cause any violation of any condition for the grant and/or continued effectiveness of any licenses or permits issued to either of them; or (v) cause the suspension or revocation of or imposition of additional conditions to any licenses or permits issued to either of them;

	  
	  

	 3.3
	 Party B has a good and merchantable title to the equity interests in Party C he holds. Except for Party B's Equity Pledge Agreement and Party B's Entrustment Agreement, Party B has not placed any security interest on such equity interests;

	  
	  

	 3.4 
	 Party C has a good and merchantable title to, and has not placed any security interest on, all of its assets;

	  
	  

	 3.5 
	 Party C does not have any outstanding debts, except for (i) debt incurred in the ordinary course of business; and (ii) debts disclosed to and approved by Party A in writing. 

	  
	  

	 3.6
	 If Party C is required to be liquidated or dissolved under PRC laws, it shall sell all of its assets to Party A or other qualified person designated by Party A to the extent permitted by the laws of PRC, at the lowest price permitted by the laws of PRC. Party C waives Party A or any qualified person designated by Party A from any payment obligation arising thereof, to the extent permitted by the then effective laws of PRC; or any earnings from such transaction shall be paid to Party A or a qualified person designated by Party A as part of the Services Fees under the Exclusive Consulting Service Agreement to the extent permitted by the then effective laws of PRC;

	  
	  

	 3.7
	 Party C has complied with all laws and regulations of PRC applicable to asset acquisitions; and

	  
	  

	 3.8 
	 There are no pending or threatened litigation, arbitration or administrative proceedings relating to the equity interests of Party B in Party C, assets of Party C, or Party C. 

   
  
 EXCLUSIVE OPTION AGREEMENT
 	 
	
	

	 

  
 	 4. 
	 Effective Date and Term

	  
	  

	  
	 This Agreement shall become effective upon the date hereof, and remain effective until all equity interests held by Party B in Party C have been transferred or assigned to Party A and/or any other person designated by Party A in accordance with this Agreement. 

	  
	  

	 5.
	 Governing Law and Resolution of Disputes

	  
	  

	 5.1
	 Governing Law

	  
	  

	  
	 The execution, effectiveness, construction, performance, amendment and terminationof this Agreement and the resolution of disputes hereunder shall be governed by the formally promulgated and publicly available laws of PRC. Any matters not covered by formally promulgated and publicly available laws of the PRC shall be governed by international legal principles and practices. 

	  
	  

	 5.2
	 Methods of Resolution of Disputes

	  
	  

	  
	 Any dispute arising from the construction and performance of this Agreement shall be first resolved by the Parties through friendly consultation. If the Parties fail to agree upon the resolution of a dispute within 30 days after any Party requests the other Parties to resolve such dispute through consultation, any Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with the Commission's arbitration rules then in effect. The arbitration shall be conducted in Beijing and conducted in the Chinese language. The arbitration award shall be final and binding on all Parties. 

   
  
 EXCLUSIVE OPTION AGREEMENT
 	 
	
	

	 

  
 	 6. 
	 Taxes and Expenses

	  
	  

	  
	 Each Party shall pay any and all transfer and registration taxes, costs and expenses incurred by it or levied on it in connection with the preparation and execution of this Agreement and the relevant transfer contract and consummation of the transactions contemplated under this Agreement and the relevant transfer contract in accordance with the laws of PRC. 

	  
	  

	 7.
	 Notices

	  
	  

	 7.1 
	 All notices and other communications required or permitted to be given in accordance with this Agreement shall be personally delivered or sent by registered mail, postage prepaid, commercial courier service, facsimile or email to the address of such Party set forth below. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

   
 All notices and other communications required or permitted to be given in accordance with this Agreement shall be personally delivered or sent by registered mail, postage prepaid, commercial courier service, facsimile or email to the address of such Party set forth below. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:
   
 	  
	 7.1.1 
	 Notices given by personal delivery, courier service or registered mail, postage prepaid, shall be deemed effectively given on the date of delivery or refusal at the mailing address specified for notices. 

	  
	  
	  

	  
	 7.1.2
	 Notices given by facsimile or email shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission). 

   
 	 7.2   
	 For the purpose of notices, the addresses of the Parties are as follows:

	  
	  

	  
	 Party A:
 Address: [************]
 Attn: Wang Yanxin
 E-mail: [************]
 Phone: [************]

	  
	  

	  
	 Party B:
 Address: [************]
 Attn: Wang Yanxin
 E-mail: [************]
 Phone: 1[************] 

	  
	  

	  
	 Party C: 
 Address: [************]
 Attn: Wang Yanxin
 E-mail: [************]
 Phone: [************] 

	  
	  

	 7.3 
	 Any Party may change its mailing address for notices at any time by giving a notice to the other Parties in accordance with this article. 

  
  
 EXCLUSIVE OPTION AGREEMENT
 	 
	
	

	 

  
 	 8. 
	 Confidentiality

	  
	  

	  
	 The Parties acknowledge that any oral or written information exchanged in connection with this Agreement shall be considered as confidential information. Each Party shall keep all such information confidential and shall not disclose any relevant information to any third party without the written consent of the other Parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party's disclosure to the public); (b) is required to be disclosed in accordance with applicable laws or rules or provisions of any stock exchange; or (c) is required to be disclosed by any Party to its shareholders, directors, employees, counsels or financial advisors in connection with the transactions contemplated hereby, provided, however, that such shareholders, directors, employees, counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this article. If the staff or agencies engaged by any Party disclose any confidential information, such Party shall be deemed to have disclosed such confidential information and shall bear legal liability for breach of this Agreement. This article shall survive the termination of this Agreement for any reason. 

	  
	  

	 9.
	 Further Warranties

	  
	  

	  
	 The Parties agree to promptly execute documents that are reasonably required for or are conducive to the implementation of the provisions and purposes of this Agreement and take further actions that are reasonably required for or are conducive to the implementation of the provisions and purposes of this Agreement. 

	  
	  

	 10.
	 Miscellaneous

	  
	  

	 10.1
	 Amendment, change and supplement

	  
	  

	  
	 The Agreement may not be amended, changed or supplemented except by an agreement in writing signed by all the Parties. 

	  
	  

	 10.2  
	 Entire agreement

	  
	  

	  
	 Except for the amendments, supplements or changes in writing executed after the execution of this Agreement, this Agreement shall constitute the entire agreement of the Parties hereto with respect to the subject matter hereof and shall supersede all prior oral and written consultations, representations and contracts reached with respect to the subject matter of this Agreement. The attachments set forth herein shall be an integral part of this Agreement. 

	  
	  

	 10.3
	 Headings

	  
	  

	  
	 The headings of this Agreement are for convenience only, and shall not be used to interpret, explain or otherwise affect the meanings of the provisions of this Agreement. 

  
  
 EXCLUSIVE OPTION AGREEMENT 
 	 
	
	

	 

  
 	 10.4
	 Language

	  
	  

	  
	 This Agreement is written in the Chinese language in seven (7) counterparts with each of Party A, each Person of Party B and Party C holding one (1) counterpart. They shall have the same legal effect. 

	  
	  

	 10.5  
	 Severability

	  
	  

	  
	 If one or more of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions hereof shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal orunenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

	  
	  

	 10.6    
	 Successors

	  
	  

	  
	 This Agreement shall be binding on the respective successors of the Parties and the permitted assigns of such Parties. 

	  
	  

	 10.7
	 Survival

  
 	  
	 10.7.1 
	 Any obligations that occur or that are due as a result of this Agreement upon the expiration or early termination of this Agreement shall survive the expiration or early termination thereof. 

	  
	  
	  

	  
	 10.7.2
	 The provisions of Articles 5, 8 and this Section 10.7 shall survive the termination of this Agreement. 

            
 	 10.8 
	 Waiver

	  
	  

	  
	 Any Party may waive the terms and conditions of this Agreement, provided, however, that such waiver must be made in writing and signed by the Parties. No waiver by any Party under particular circumstances with respect to a breach by the other Parties shall operate as a waiver by such Party with respect to similar breach under other circumstances. 

  
  
 EXCLUSIVE OPTION AGREEMENT
 	 
	
	

	 

  
 IN WITNESS WHEREOF, the Parties have executed this Exclusive Option Agreement as of the date first above written. 
  
 Party A: Yubo International Biotech (Chengdu) Limited (Seal)
  
 By:
  
 Name: Wang Jun
  
 Title: Legal Representative
   
  
 Signature Page to Exclusive Option Agreement
 	 
	
	

	 

  
 IN WITNESS WHEREOF, the Parties have executed this Exclusive Option Agreement as of the date first abovewritten. 
  
 Party B:
  
 Wang Jun
 By:
  
 Wang Yang
 By:
  
 Beijing Zhenxigu Medical Research Center (L.P.) (Seal)
 By:
 Name: Yulin Cao
 Title: Authorized Representative
  
 Beijing Borong Hongtai Asset Management Center (L.P.) (Seal)
 By:
 Name: Liu Lina
 Title: Authorized Representative
  
 Platinum Health Management (Tianjin) Centre (L.P.) (Seal)
 By:
 Name: Jin Jin
 Title: Authorized Representative
  
  
 Signature Page to Exclusive Option Agreement
 	 
	
	

	 

  
 IN WITNESS WHEREOF, the Parties have executed this Exclusive Option Agreement as of the date first above written. 
  
 Party C: Yubo International Biotech (Beijing) Limited (Seal)
 By:
 Name: Jun Wang
 Title: Legal Representative
  
  
 Signature Page to Exclusive Option Agreement
 	 
	
	

	 

  
 Appendix I
  
 Equity Pledge Agreement
  
  
 To EXCLUSIVE OPTION AGREEMENT
 	 
	
	

	 

  
 Appendix II
  
 Entrustment Agreement
  
  
 To EXCLUSIVE OPTION AGREEMENT

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