Document:

Exhibit 10.4

 

Equity Disposal Agreement

 

This equity disposal agreement (hereinafter referred
to as “this Agreement”) is signed by and between the following parties (hereinafter referred to as “the parties”)
in Beijing, China on February 5, 2021)

 

Party A: 

Beijing Fengyuan Zhihui Education
Technology Co., Ltd.

Address: Room 515, 5th Floor, No. 5 Haiying
Road, Fengtai District, Beijing

 

Party B:

Yulong Yi, ID No. [*]

Address: Jizhang Village, Gaocun Town,
Yiyang County,Henan Province

 

Ru Zhang, ID No. [*]

Address: Cuidiwan Building 25, Door 1,
1402, 15 Street,Nanchang Road,Jianxi District, Luoyang City,Henan Province

 

Shaowei Peng, ID No. [*]

Address: Siling Village,Lianzhuang Town,Yiyang
County, Henan Province

 

Boyu Zhu, ID No. [*]

Address:Luyuan Building 12,#3,
602, Manda Road,Manzhouli City, Neimenggu Province

 

Junwei Cao, ID No. [*]

Address: Shuizhai Village 1, Shuizhai
Town, Yichuan County, Henan Province

 

Zhenlei Li, ID No.410327198901225311

Address: Yanligou Village 59, Gaocun
Town, Yiyang County, Henan Province

 

Xiangle Sun, ID No. [*]

Address: Sun Village #3, Minggao Town,
Yichuan County, Henan Province

 

Wanwu Kang, ID No. [*]

Address: Gou Village #2, Limiao Zhen,
Nanzhang County, Hubei Province

 

Fengying Yu, ID No. [*]

Address: Tucheng Village, Liusumu Town,
Liangcheng County, Wulanchabumu City, Neimenggu Province

 

     

     

    

 

 

Zhe Wang, ID No. [*]

Address: Weiyi Road #3 Yard, Building
2, 39, Jinshui District, Zhengzhou City

 

Yue Wang, ID No. [*]

Address: Xingfu Street 75, Chongwen District,
Beijing

 

Party C: 

Beijing Zhuoxun Century Culture
Communication Co., Ltd.(“Zhuoxun Culture”)

Address: Room 513, 5th Floor,
No. 5 Haiying Road, Fengtai District, Beijing

 

Whereas

 

1. Party A is a wholly foreign-owned
enterprise registered and existing in the People’s Republic of China

 

2. Party C is a limited liability company
incorporated in China

 

3. Party B is the shareholder of Zhuoxun
Culture (collectively referred to as the “authorized party”), of which Yulong Yi holds 53% equity, Ru Zhang holds 11% equity,
Shaowei Peng holds 5% equity, Boyu Zhu holds 5% equity, Junwei Cao holds 5% equity, Zhenlei Li holds 5% equity, Xiangle Sun holds 5% equity,
Wanwu Kang holds 4% equity, Fengying Yu holds 3% equity, Zhe Wang holds 2.5% equity and Yue Wang holds 1.5% equity.

 

4. Party A and Party B have signed a
equity pledge agreement, under which Party B guarantees Zhuoxun Culture to perform its obligations under the exclusive consultation and
service agreement signed with Party A. In order to ensure the security of the mortgage, and in consideration of the technical support
provided by Party A to Zhuoxun Culture and the good cooperative relationship between the parties, the parties have reached the following
agreement.

 

1. Granting Options

 

1.1 Grant

 

The parties to this agreement agree that,
from the effective date of this agreement, unless it has been disclosed to Party A and with the prior explicit written permission of Party
A, Party A shall have the exclusive option, in accordance with the provisions of this agreement, and Party A or the third party designated
by Party A shall at any time purchase all or part of the equity held by the authorized party in Zhuoxun Culture at the lowest price permitted
by the laws and regulations of the People’s Republic of China at the time of exercise. Party B agrees that, as a shareholder of
Party C, if Party B legally obtains dividends, dividends or surplus property from Party C before the equity of Party C held by Party B
is transferred to Party A, Party B shall, on the premise of complying with Chinese laws and after paying taxes required by Chinese laws,
immediately pay all such income to Party A

 

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The parties to this agreement agree that,
from the effective date of this agreement, unless it has been disclosed to Party A and with the prior written permission of Party A, Party
A has the exclusive option to purchase all or part of the assets held by Zhuoxun Culture at any time by Party A or its designated third
party at the lowest price permitted by the laws and regulations of the people’s Republic of China at the time of exercise.

 

Party A shall be granted the above option
after this agreement is signed by all parties and becomes effective, and the authorization shall be irrevocably or unchangeable during
the term of this Agreement (including any extension period according to Article 1.2 below).

 

1.2 Validation

 

This agreement is signed by the parties
and becomes effective on the first date as it appears hereof. This Agreement shall be valid for ten years from the effective date of this
agreement. Before the expiration of this agreement, if Party A requests, all parties shall extend the term of this agreement according
to Party A’s request and sign another equity disposal agreement or continue to perform this agreement according to Party A’s
request.

 

2. Exercise of options and Delivery

 

2.1 Exercise Time

 

2.1.1 The authorized party agrees that,
subject to the laws and regulations of the people’s Republic of China, Party A may exercise part or all of the options under this
agreement at any time after this agreement is signed and takes effect.

 

2.1.2 The authorized party agrees that
there is no limit on the number of times party A exercises its rights, unless it has acquired and held all the equity and assets of Zhuoxun
Culture.

 

2.1.3 The authorized party agrees that
Party A may appoint a third party as its representative to exercise the right of choice, but Party A shall notify the authorized party
in writing in advance when exercising the right

 

2.2 Disposal Exercise Price

 

The authorized party agrees that when
Party A exercises the right, all the exercise price obtained by the authorized party shall be presented to Zhuoxun Culture free of charge,
or be transferred from the authorized party to Zhuoxun Culture by other ways agreed by Party A in writing.

 

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2.3 Transfer Possession

 

The authorized party agrees that the
option under this agreement can be transferred in part or in whole by Party A to a third party without prior consent of the authorized
party. The third party shall be regarded as a party to this agreement, and the Contractor shall exercise the option according to the conditions
of this Agreement and undertake the rights and obligations of Party A under this agreement.

 

2.4 Notice

 

If Party A exercises the right, it shall
notify the authorized party in writing ten working days prior the delivery date (as defined below), and the notice shall specify the following
terms:

 

2.4.1 The effective delivery date of
the equity or assets after the exercise of the option (hereinafter referred to as the “delivery date”);

 

2.4.2 The name of the holder of the equity
or assets that should be registered after the exercise of the option;

 

2.4.3 The number and proportion of shares
purchased from the authorized person, or the details and quantity of assets

 

2.4.4 Exercise price and payment method;

 

2.4.5 Power of attorney (if the third
party designated by Party A exercises the power on behalf of Party A).

 

The parties agree that Party A may at
any time appoint a third party to exercise the right of option, register the equity or assets in the name of such third party.

 

2.5 Equity Transfer

 

Each time Party A exercises the option,
within 10 working days from the date of receiving the exercise notice issued by Party A in accordance with Article 2.4 of this Agreement

 

(1) The authorized party shall instruct
Zhuoxun Culture to hold a shareholders’ meeting in time. At the meeting, the resolution of shareholders’ meeting approving
the authorized party to transfer the equity to Party A and / or the third party designated by it shall be passed;

 

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(2) The authorized party shall sign a
transfer agreement with Party A (or, if applicable, the third party designated by it) which is consistent in substance with the equity
transfer agreement listed in Annex 1 of this agreement;

 

(3) Party B shall sign all other required
contracts, agreements or documents, obtain all required government approval and consent, and take all necessary actions to transfer the
effective ownership of the Purchased Equity to Party A and / or its designated third party without any security interest, Party A and
(or) the third party designated by Party A shall become the registered owner of the Purchased Equity, and submit to Party A or the third
party designated by Party A the latest business license, articles of association and other relevant documents issued or registered by
relevant Chinese authorities. Such documents shall reflect the changes of equity, directors and legal representatives of Zhuoxun Culture.

 

2.6 Asset
Transfer

 

Each time Party A exercises the option,
within 10 working days from the date of receiving the exercise notice issued by Party A in accordance with Article 2.4 of this Agreement:

 

(1) Zhuoxun Culture shall timely hold
(Executive) board meeting or shareholders’ meeting in accordance with its articles of association. At the meeting, Zhuoxun Culture
shall pass a resolution approving the transfer of assets to Party A and / or the third party designated by Zhuoxun Culture

 

(2) Zhuoxun Culture shall sign the transfer
agreement with Party A (or the third party designated by it if applicable) for the transfer of relevant assets;

 

(4) Zhuoxun
Culture shall sign all other required contracts, agreements or documents, obtain all required government approval and consent, and take
all necessary actions to transfer the effective ownership of the purchased assets to Party A and / or its designated third party without
any security interest, And make Party A and / or the third party designated by Party A become the registered purchaser of the purchased
assets (if applicable)

 

3. Statement
and Commitment

 

The authorized party represents and warrants
as follows:

 

3.1.1 Have complete right and authorization
to sign and perform this Agreement;

 

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3.1.2 The performance of this Agreement
and the obligations under this Agreement does not violate the binding laws, regulations and other agreements, and does not require the
approval or authorization of government departments;

3.1.3 There is no litigation, arbitration
or other judicial or administrative proceedings pending or likely to substantially affect the performance of this Agreement;

 

3.1.4 It has disclosed to Party A all
situations that may adversely affect the performance of this Agreement;

 

3.1.5 It has not been declared bankrupt
and its financial position is sound

 

3.1.6 The equity of Zhuoxun Culture is
free from any pledge, guarantee, liability and other third party’s rights and liabilities, and is free from recourse by the third
party, except for the equity pledge agreement signed by Party A and Party B

 

3.1.7 It will not set any pledge, liabilities
and other third party’s rights and burdens on its equity of Zhuoxun Culture, and will not dispose of its equity to Party A or other
persons other than the third party designated by Party A by means of transfer, gift, pledge or any other means

 

3.1.8 The right of choice granted to
Party A shall be exclusive, and the authorized party shall not grant the right of choice or similar rights to any person other than Party
A or its designated third party in any other way

 

3.1.9 During the term of this agreement,
the business of Zhuoxun Culture complies with the laws, regulations, regulations and other management regulations and guidelines issued
by the competent government departments, and there is no violation of any of the above regulations, which will have a significant adverse
impact on the business or assets of the company;

 

3.1.10 Maintain the existence of Zhuoxun
Culture in accordance with good financial and commercial standards and practices. Prudently and effectively conduct its business and conduct
its affairs, and use its best efforts to ensure that Zhuoxun Culture continues to operate with the necessary permits, licenses and approvals,
and that such permits, licenses and approvals will not be cancelled, withdrawn or declared invalid;

 

3.1.11 At the request of Party A, provide
all the operation and financial information of Zhuoxun Culture.

 

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3.1.12 Before Party A (or the third party
designated by Party A) exercises the right of option and obtains all equity or assets of Zhuoxun Culture, Zhuoxun Culture shall not do
any of the following unless it obtains the written consent of Party A (or the third party designated by Party A)

 

(a) Sell,
transfer, mortgage or otherwise dispose of any asset, business or income, or allow to set up any other security interest on it (except
those arising in the normal or ordinary course of business or disclosed to Party A with Party A’s prior explicit written consent);
and;

 

(b) Enter
into a transaction that will materially and adversely affect its assets, liabilities, operations, equity and other legitimate rights (except
those arising in the course of normal or daily business or disclosed to Party A with Party A’s prior explicit written consent);

 

(c) To
distribute dividends and bonus to shareholders in any form;

 

(d) Incurs,
inherits, guarantees or permits the existence of any debt, but (I) arises in the normal or ordinary course of business and not by way
of borrowing money( II) except for debts that have been disclosed to Party A and have been expressly agreed in writing by Party
A in advance;

 

(e) Enter
into any material contract, except in the normal course of business (for the purposes of this paragraph, if the value of a contract exceeds
RMB 1 million, it shall be regarded as a material contract);

 

(f) To
increase or decrease the registered capital of Zhuoxun Culture through the resolution of the shareholders’ meeting, or to change
the structure of the registered capital separately;

 

(g)Supplement, change or modify the articles
of association of Zhuoxun Culture in any form

 

(h) To
merge or associate with any person, or to acquire or invest in any person

 

3.1.13 Before Party A (or the third party
designated by Party A) exercises the right of option to acquire all equity or assets of Zhuoxun Culture, Party B shall not jointly or
unilaterally carry out the following acts unless Party A (or the third party designated by Party A) expressly agrees in writing:

 

(a) Supplement,
change or modify the articles of association of Zhuoxun Culture in any form, and such supplement, change or modification will substantially
and adversely affect the assets, liabilities, operation, equity and other legal rights of Zhuoxun Culture (except for the case of capital
increase in the same proportion to meet the legal requirements), or may affect this Agreement and Party A, Party B and Effective performance
of other agreements signed by Zhuoxun Culture;

 

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(b) Zhuoxun
Culture to enter into a transaction that will substantially and adversely affect Zhuoxun Culture’s assets, liabilities, operations,
equity and other legal rights (except those arising in the normal or daily business process or which have been disclosed to Party A and
obtained Party A’s explicit written consent in advance); and;

 

(c) To
urge the shareholders’ meeting of Zhuoxun Culture to pass the resolution of dividend distribution;

 

(d) Sell,
transfer, mortgage or otherwise dispose of the legal or beneficial interest of any equity of Zhuoxun Culture at any time since the effective
date of this contract, or allow to set any other security interest on it;

 

(e) Urge
the board of shareholders of Zhuoxun Culture to approve the sale, transfer, mortgage or other disposal of the legal or beneficial interests
of any equity, or allow the establishment of any other security interests on it;

 

(f) Urge
the board of shareholders of Zhuoxun Culture to approve the merger or association of Zhuoxun Culture with any person, or the acquisition
or investment of any person, or any other form of restructuring;

 

(g) Self-Liquidating,
liquidation or dissolution of Zhuoxun Culture

 

3.1.14 Before Party A (or its designated
third party) exercises the right of option to acquire all equity or assets of Zhuoxun Culture, Party B undertakes that:

 

(a) Immediately
notify Party A in writing of any litigation, arbitration or administrative proceedings that have occurred or may occur with respect to
the equity owned by Party A, or any circumstance that may have any adverse effect on such equity;

 

(b) Urge
the shareholders’ meeting of Zhuoxun Culture to examine and approve the transfer of the Purchased Equity specified in this agreement,
urge Zhuoxun Culture to amend its articles of association to reflect the transfer of equity from Party B to Party A and / or its designated
third party, and other changes described in this agreement, and immediately apply to the competent authorities in China for approval (if
such approval is required by law) and change registration, Urge Zhuoxun Culture to approve the appointment of Party A and / or the third
party designated by Party A as the new director and new legal representative through the resolution of the shareholders’ meeting;

 

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(c) In
order to maintain its legal and effective ownership of the equity, sign all necessary or appropriate documents, take all necessary or
appropriate actions and make all necessary or appropriate complaints or make all necessary and appropriate defenses against all claims

 

(d) Upon
Party A’s request at any time, Party A shall transfer its equity unconditionally and immediately to the third party designated by
Party A at any time, and give up its preemptive right to another existing shareholder for the above equity transfer;

 

(e) Strictly
abide by the provisions of this contract and other contracts jointly or separately signed by Party B and Party A, earnestly perform the
obligations under such contracts, and do not do any act / omission that may affect the validity and enforceability of such contracts.

 

3.2 Commitment

 

The authorized party undertakes to Party
A that the authorized party shall bear all expenses arising from the equity transfer and go through all necessary procedures for Party
A and / or its designated third party to become a shareholder of Zhuoxun Culture. The procedures include, but are not limited to, assisting
Party A to obtain necessary approval from government departments for equity transfer, submitting equity transfer agreement, resolutions
of shareholders’ meeting and other documents to relevant industrial and commercial administration departments, and amending articles
of association, register of shareholders and other articles of Association documents

 

3.3 Party
B hereby represents and warrants to party a jointly and severally on the date of signing this contract and each delivery date as follows:

 

(1) It
has the power and ability to enter into and deliver this contract and any equity transfer agreement (each referred to as the “transfer
agreement”) to which it is a party for each transfer of the Purchased Equity under this contract, and to perform its obligations
under this contract and any transfer agreement. Once signed, this contract and each assignment agreement to which it is a party will constitute
legal, valid and binding obligations, and can be enforced in accordance with its terms;

 

(2) Neither
the signing and delivery of this contract or any assignment agreement nor the performance of its obligations under this contract or any
assignment agreement will: (I) result in violation of any relevant Chinese laws and regulations(II) conflict with its articles
of association or other organizational documents(III) result in a breach of any contract or instrument to which it is a party or
by which it is bound(IV) result in a breach of any conditions relating to the grant and / or continued validity of any license
or approval granted to it; Or (V) causes any license or approval granted to it to be suspended or revoked or subject to conditions;

 

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(3) Party
B shall have good and marketable ownership of all equity of Zhuoxun Culture. Party B does not have any security interest in the above
equity;

 

(4) Zhuoxun
Culture has no outstanding debts, except (I) debts incurred in the normal course of its business, and (II) debts disclosed to Party A
and with the prior explicit written consent of Party A;

 

(5) Zhuoxun
Culture complies with all laws and regulations applicable to the acquisition of equity and assets;

 

(6) At
present, there are no ongoing or pending litigation, arbitration or administrative procedures related to the equity and assets of Zhuoxun
Culture or Zhuoxun Culture.

 

3.4 Zhuoxun
Culture represents and warrants as follows:

 

3.4.1 It has complete right and authorization
to sign and in compliance with this agreement

 

3.4.2 The implementation of this Agreement
and its obligations under its terms does not violate the binding laws, regulations and other agreements, and does not require the approval
or authorization of government departments

 

3.4.3 There is no litigation, arbitration
or other judicial or administrative proceedings pending or likely to substantially affect the performance of this Agreement;

 

3.4.4 Party B has disclosed to Party
A all situations that may adversely affect the performance of this agreement

 

3.4.5 It has not been declared bankrupt
and its maintained sound healthy financial condition

 

3.4.6 Except for those disclosed to Party
A, there is no pledge, guarantee, liability or other third party’s burden on the assets of Zhuoxun Culture, and it is free from
recourse of the third party, except for the equity pledge agreement signed by Party A and Party B

 

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3.4.7 Without Party A’s prior written
consent, it will not set any pledge, mortgage, liability and other third party’s rights and burdens on the assets it holds, and
will not dispose of the assets it holds to any person other than Party A or the third party designated by Party A by means of transfer,
gift, mortgage, pledge or any other means

 

3.4.8 The right of option granted to
Party A shall be exclusive, and Zhuoxun Culture shall not grant the right of option or similar rights in any other way to any person other
than Party A or its designated third party;

 

3.4.9 During the term of this agreement,
the business of Zhuoxun Culture complies with the laws, regulations, regulations and other management regulations and guidelines issued
by the competent government departments, and there is no violation of any of the above regulations, which will have a significant adverse
impact on the business or assets of the company

 

3.4.10 Maintain the existence of Zhuoxun
Culture in accordance with good financial and commercial standards and practices. Prudently and effectively conduct its business and conduct
its affairs, and use its best efforts to ensure that Zhuoxun Culture continues to operate with the necessary permits, licenses and approvals,
and that such permits, licenses and approvals will not be cancelled, withdrawn or declared invalid;

 

3.4.11 At the request of Party A, provide
all the operation and financial information of Zhuoxun Culture

 

3.4.12 Take all reasonable and necessary
measures to manage Zhuoxun Culture business and strive to maintain and increase the value of Zhuoxun Culture assets

4. Taxation

 

The taxes generated by each party during
the exercise of this Agreement shall be borne by each party

 

5. Breach
Agreement

 

5.1 If Party B or Party C violates this
agreement or any of its representations and guarantees in this agreement, Party A may notify the defaulting party in writing, requiring
it to correct the breach within ten days after receiving the notice, take corresponding measures to effectively and timely avoid the occurrence
of damage, and continue to perform this agreement. In case of any damage, the breaching party shall compensate Party A so that Party A
can obtain all the rights and interests it deserves when performing the contract.

 

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5.2 If Party B or Party C fails to correct
the breach within ten days after receiving the notice in accordance with the above-mentioned 5.1, Party A has the right to require the
breaching party to compensate Party A for any expenses, liabilities or losses (including but not limited to the interest paid or lost
by Party A due to the breach of contract and the attorney’s fees). Meanwhile, Party A has the right to implement the equity transfer
agreement attached to this agreement to transfer the equity held by Party B to Party A and / or the third party designated by Party A

 

6. Jurisdiction
and Disputes

 

6.1 Jurisdiction
Law

 

The laws of the people’s Republic
of China shall be applicable to this agreement, including but not limited to the completion, performance, validity and interpretation
of this agreement.

 

6.2 Friendly
Negotiation

 

In case of any dispute arising from the
interpretation or performance of this agreement, the parties shall settle the dispute through friendly negotiation or mediation by an
intermediate third party. If the dispute cannot be settled by the above-mentioned means, it shall be submitted to the arbitration authority
for settlement within 30 days from the date of the above-mentioned relevant discussion

 

6.3 Arbitration

 

Any dispute arising from this Agreement
shall be submitted to China International Economic and Trade Arbitration Commission (Beijing) for arbitration in accordance with its arbitration
rules. The place of arbitration shall be Beijing. The arbitration award shall be final and binding on all parties.

 

7. Confidential

 

7.1 Confidential
Information

 

The contents of this Agreement and its
attachments shall be kept confidential. The parties shall not disclose any information of this agreement to any third party (except with
the prior written consent of the parties). This clause shall survive the termination of this agreement.

 

7.2 Exceptions

 

If confidential information should be
disclosed in accordance with laws, court decisions, arbitration awards and decisions or requirements of government authorities, securities
regulatory authorities, stock exchanges and stock exchange institutions, the disclosure of such information shall not be deemed as a violation
of Article 7.1 above

 

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8. Others

 

8.1 Completion
of the Agreement

 

The parties hereby confirm that this
agreement is a fair and reasonable agreement reached by the parties on the basis of equality and mutual benefit. This Agreement constitutes
all the parties to the agreement on the subject matter involved in the agreement. If any previous discussions, negotiations and agreements
are inconsistent with this agreement, this Agreement shall prevail. This Agreement shall be amended by the parties in writing. The annex
to this agreement is an integral part of this Agreement and has the same effect as this Agreement

 

8.2 Notice

 

8.2.1 All notices given by the parties
to this Agreement for the performance of their rights and obligations under this Agreement shall be made in writing and sent by hand delivery,
registered mail, prepaid mail, recognized courier service, or fax to the following addresses of the party or parties concerned:

 

Party A:

Beijing Fengyuan Zhihui Education
Technology Co., Ltd.

Address: Room 515, 5th Floor,
No. 5 Haiying Road, Fengtai District, Beijing

Fax:

Phone:138-3888-4833

Recipient: Ru Zhang

 

Party B:

Yulong Yi,

Phone: [*]

Address: Jizhang Village,Gaocun Town,
Yiyang County, Henan Province

Recipient: Yulong Yi

 

Ru Zhang,

Phone: [*]

Address: Cuidiwan Building 25,Door 1,
15 Street, Nanchang Road,Jianxi District, Luoyang City, Henan Province

Recipient: Ru Zhang

 

Shaowei Peng,

Phone: [*]

Address: Siling Village,Lianzhuang Town,
Yiyang County, Henan Province

Recipient: Shaowei Peng

 

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Boyu Zhu,

Phone: [*]

Address: Huayuan Building 12,#3, Room
602, Manda Road, Manzhouli City, Neimenggu Province

Recipient: Boyu Zhu

 

Junwei Cao,

Phone: [*]

Address: Shuizhai Village 1, Shuizhai
Town, Yichuan County, Henan Province.

Recipient: Junwei Cao

 

Zhenlei Li,

Phone: [*]

Address: Yanligou Village 59,Gaocun Town,
Yiyang County, Henan Province

Recipient: Zhenlei Li

 

Xiangle Sun,

Phone: [*]

Address: Sun Village 3, Minggao Town,
Yichuan County, Henan Province

Recipient: Xiangle Sun

 

Wanwu Kang,

Phone: [*]Address: Goucun #2, Limiao
Town, Nanzhang County, Hubei Province

Recipient: Wanwu Kang

 

Fengying Yu,

Phone: [*]

Address: Tucheng Village, Liusumu Town,
Liangcheng County, Wulanchabu City, Neimenggu Province

Recipient: Fengying Yu

 

Zhe Wang,

Phone: [*]

Address: Weiyi Road #3 Yard, Building
2, 39, Jinshui District, Zhengzhou City

Recipient: Zhe Wang

 

Yue Wang,

Phone: [*]

Address: Xingfu Street 75, Chongwen District,
Beijing

Recipient: Yue Wang

 

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Party C: 

Beijing Zhuoxun Century Culture Communication Co., Ltd

Address: Room 513, 5th Floor, No. 5 Haiying Road, Fengtai District, Beijing 

Fax: [    ]

Phone: 010-6372-1372

Recipient: Boyu Zhu

 

8.2.2 A notice or letter shall be deemed
to have been served under the following circumstances

 

8.2.2.1 If the fax is delivered by fax,
the date record on the fax shall prevail. However, if the fax is delivered later than 5 pm or on a non working day in the place of delivery,
the next working day of the date record on the fax shall be the date of delivery;

 

8.2.2.2 If it is delivered by hand (including
express mail), the date of receipt shall prevail;

 

8.2.2.3 If it is delivered by registered
mail, the 15th day after the date on the receipt of the registered mail shall prevail.

 

8.2.3 Restrictions

 

This Agreement shall be binding on all
parties

 

8.3 Language

 

This agreement is made in thirteen
copies, written in Chinese, with each party holding one copy

 

8.4 Days
and Working days

 

“Day” referred to in this
Agreement shall be the date on the calendar; The “working days” referred to in this Agreement are from Monday to Friday

 

8.5 Headings

 

The headings of this Agreement are for
convenience only and shall not be used for the interpretation of this agreement

 

8.6 Supplementary

 

The obligations, promises and liabilities
of the authorized party to Party A under this Agreement are separate and joint, and the authorized parties shall bear joint and several
liabilities. As far as Party A is concerned, the default of any one of the authorized parties will automatically constitute the default
of the authorized party

 

8.7 Pending
Issues

For matters not specified in this agreement,
the parties shall settle them through negotiation in accordance with the laws of the people’s Republic of China

 

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Signature Page Only

 

Party A: Beijing Fengyuan Zhihui Education Technology
Co., Ltd.

 

Authorized Representative:

 

[company’s seal]

 

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Signature Page Only

 

	Party B:	 	 
	 	 	 
	Yulong Yi	 	Ru Zhang
	 	 	 
	/s/ Yulong Yi	 	/s/ Ru Zhang
	 	 	 
	Shaowei Peng	 	Boyu Zhu
	 	 	 
	/s/ Shaowei Peng	 	/s/ Boyu Zhu
	 	 	 
	Junwei Cao	 	Zhenlei Li
	 	 	 
	/s/ Junwei Cao	 	/s/ Zhenlei Li
	 	 	 
	Xiangle Sun	 	Wanwu Kang
	 	 	 
	/s/ Xiangle Sun	 	/s/ Wanwu Kang
	 	 	 
	Fengying Yu	 	Zhe Wang
	 	 	 
	/s/ Fengying Yu	 	/s/ Zhe Wang
	 	 	 
	Yue Wang	 	 
	 	 	 
	/s/ Yue Wang	 	 

 

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Signature Page Only

 

Party C: Beijing Zhuoxun Century Culture Communication
Co., Ltd.

 

Authorized Representative:

 

[company’s seal]

 

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Attachment 1: Equity Transfer Agreement

 

Equity Transfer Agreement

 

This equity transfer agreement (hereinafter referred
to as “this Agreement”) is signed by and between the following parties in Beijing on the day of [    ]

 

Party A: Beijing Fengyuan Zhihui Education Technology
Co., Ltd.

 

Address: Room 515, 5th Floor, No. 5 Haiying Road,
Fengtai District, Beijing

 

Party B:

 

Yulong Yi, ID No. [*]

Address: Jizhang Village, Gaocun Town,
Yiyang County, Henan Province

 

Ru Zhang, ID No. [*]

Address: Cuidiwan Building 1 1402, 15
Street, Nanchang Road, Jianxi District, Luoyang City, Henan Province

 

Shaowei Peng, ID No. [*]

Address: Siling Village, Lianzhuang Town,
Yiyang County, Henan Province

 

Boyu Zhu, ID No.15210219930117122X

Address: Huayuan Building 12, #3, Room
602, Manda Road, Manzhouli City, Neimenggu Province

 

Junwei Cao, ID No. [*]

Address: Shuizhai Village #1, Shuizhai
Town, Yichuan County, Henan Province

 

Zhenlei Li, ID No. [*]

Address: Yanligou Village 59, Gaocun
Town, Yiyang County, Henan Province

 

Xiangle Sun, ID No. [*]

Address: Sun Village #3, Minggao Town,
Yichuan County, Henan Province

 

Wanwu Kang, ID No. [*]

Address: Gou Village #2, Limiao Town.
Nanzhang County, Hubei Province

 

Fengying Yu, ID No. [*]

Address: Tucheng Village, Liusumu Town,
Liangcheng County, Wulanchabu City, Neimenggu Province

 

    19

     

    

 

Zhe Wang, ID No. [*]Address: Weiyi Road
#3 Yard, Building 2, 39,Jinshui District,Zhengzhou City

 

Yue Wang, ID No. [*]

Address: Xingfu Street 75, Chongwen Road,Beijing

 

Party C:

Beijing Zhuoxun Century Culture Communication
Co., Ltd.

( hereinafter referred to as “Zhuoxun Culture”)

Address: Room 513, 5th Floor, No. 5 Haiying Road,
Fengtai District, Beijing

 

In this contract, Party A, Party B and Party C
are hereinafter referred to as “party” and collectively as “parties”.

 

As

 

1. Party A is a wholly foreign-owned enterprise
registered and existing in the people’s Republic of China (hereinafter referred to as “China”);

 

2. Party C is a wholly domestic company registered
in Beijing, China. At present, Party B holds 100% equity of Party C (hereinafter referred to as “relevant equity”); and

 

3. Party B is willing to transfer part or
all of Party C’s equity to Party A and / or its designated third party when Party A and / or its designated third party
exercise its option in accordance with the relevant provisions of the equity disposal agreement signed by Party A and Party A on
[    ] and Party A and / or its designated third party agree to transfer the equity (hereinafter referred to as
“equity transfer”).

 

Accordingly, the two parties have reached the
following agreement through consultation:

 

1. Equity Transfer

 

1.1 Party B agrees to transfer the
relevant equity to Party A. among Party B, Yulong Yi transfers 53% equity; among Party B, Ru Zhang transfers 11% equity; among Party B,
Shaowei Peng transfers 5% equity; among Party B, Boyu Zhu transfers 5% equity; among Party B, Junwei Cao transfers 5% equity; among Party
B, Zhenlei Li transfers 5% equity; among Party B, Xiangle Sun transfers 5% equity; among Party B, Wanwu Kang transfers 4% equity; among
Party B, Fengying Yu transfers 3% equity; among Party B, Zhe Wang transfers 2.5% equity; among Party B, Yue Wang transfers 1.5% equity.
Party A agrees to accept such transfer. After the transfer, Party A holds 100% of the equity of Party C.

 

    20

     

    

 

 

1.2 As consideration for equity transfer,
Party A shall pay RMB to Yulong Yi of Party B___ Yuan, to Ru Zhang of Party B____ Yuan, to Shaowei Peng of Party B____ Yuan,to Boyu Zhu
of Party B____ Yuan, to Junwei Cao of Party B____ Yuan, to Zhenlei Li of Party B____ Yuan, to Xiangle Sun of Party B____ Yuan, to Wanwu
Kang of Party B____ Yuan,t o Fengying Yu of Party B____ Yuan, to Zhe Wang of Party B____ Yuan,to Yue Wang of Party B____ Yuan, in accordance
with Article 2.

 

1.3 Party B agrees to the equity transfer
under this article, and is willing and will urge other shareholders of Party C (except Party B) to sign necessary documents including
the resolution of the shareholders’ meeting and the letter of giving up preemptive purchase of relevant equity, and assist in handling
other necessary procedures for equity transfer

 

1.4 Party B and Party C shall be jointly
and separately responsible for taking all necessary actions, including but not limited to signing this agreement, passing resolutions
of the shareholders’ meeting, amendments to the articles of association, etc., to realize the transfer of equity from Party B to
Party A, And shall be responsible for completing all government approval or industrial and commercial registration and filing procedures
within 10 working days from the date Party A issues the notice of exercise in accordance with the provisions of the equity disposal agreement,
so as to make Party A the registered owner of such equity.

 

2. Equity Transfer Payment

 

2.1 Party
A shall pay RMB to Yulong Yi ___ Yuan, to Ru Zhang____ Yuan, to Shaowei Peng ____ Yuan, to Boyu Zhu ___ Yuan, to Junwei Cao ____ Yuan,
to Zhenlei Li ____ Yuan, to Xiangle Sun____ Yuan, to Wanwu Kang ____ Yuan, to Fengying Yu ____ Yuan, to Zhe Wang ____ Yuan, to Yue Wang
____ Yuan within 5 working days after signing this agreement.

 

2.2 Party
B shall issue appropriate receipt to Party A within 5 working days after receiving each payment mentioned in Article 2.1.

 

3. Proclamation and Commitment

 

3.1 Each
party hereby represents and warrants as follows:

 

(a) The party is a legally established
and existing company or an individual with full capacity for civil conduct, and has complete power and ability to sign and perform this
Agreement and other documents related to this agreement required to achieve the purpose of this Agreement;

 

    21

     

    

 

(b) Such
party has taken or will take all necessary actions to properly and effectively authorize the signing, delivery and performance of this
Agreement and all other documents related to the transactions under this agreement, and such signing, delivery and performance does not
violate any relevant laws, regulations and government regulations, and does not infringe the legitimate rights and interests of any third
party

 

3.2 Party B and Party C jointly and
separately declare and guarantee to Party A as follows:

 

(a) Party B currently legally and
effectively holds 100% of the equity of Party C. Party B’s acquisition and holding of the equity does not violate any laws and regulations
or government decisions, nor does it violate the interests and rights of any third party;

 

(b) Party C is a limited liability
company duly established and validly existing in accordance with the laws of China, which has complete rights and behavioral capabilities,
has the right to own, dispose and operate its assets and business, and to carry out its business which is currently in progress or planned.
Party C has obtained all the licenses, qualification certificates or other governmental departments’ approval, approval, filing
or registration procedures for all the business described in its business license;

 

(c) Party C has not violated any relevant
laws and regulations or government regulations since its establishment;

 

(d)There is no security interest or
any other third party rights in the equity of Party C held by Party B, unless otherwise agreed by both parties

 

(e) This
party has not omitted to provide Party A with any documents or information about Party C or its business that may affect its decision
to enter into this Agreement;

 

(f)Prior to the completion of the
equity transfer, such party will not authorize or cause to be issued or promised to issue new equity in addition to the equity already
issued on the date of signing this agreement by any act or omission, and will not change the registered capital or shareholder structure
of Party C in any form

 

4. Validation

 

This agreement is signed and effective
on the date first above written.

 

    22

     

    

 

5. Disputes

 

In case of any dispute between the
parties on the interpretation and performance of the terms under this agreement, the parties shall negotiate in good faith to resolve
the dispute. If both parties fail to reach an agreement on the settlement of the dispute within 30 days after one party’s request
for the settlement of the dispute through negotiation, either party may submit the dispute to China International Economic and Trade Arbitration
Commission for arbitration in accordance with its current arbitration rules. The place of arbitration shall be Beijing; The language of
arbitration shall be Chinese. The arbitration award shall be final and binding on both parties.

 

6. Validity

 

The validity, interpretation and enforcement
of this Agreement shall be governed by the laws of China.

 

7. Amendment, Supplementary

 

The parties shall amend and supplement
the agreement by written agreement. The Amendment Agreement and supplementary agreement on this agreement properly signed by all parties
are an integral part of this Agreement and have the same legal effect as this agreement.

 

8. The divisibility of protocol

If any provision of this agreement
is invalid or unenforceable due to inconsistency with the relevant law, it shall be void or unenforceable only within the relevant legal
jurisdiction and shall not affect the legal effect of other provisions of this agreement

 

9. Agreement Attachment

 

Any annex to this agreement is an
integral part of this Agreement and has the same legal effect as this agreement.

 

10. Others

 

10.1 This agreement is made in Chinese
in thirteen copies, one for each party.

 

10.2 If Party A designates any third
party to exercise the option, Party A and / or the third party designated by Party A shall, as the case may be, refer to Party A in this
equity transfer agreement

 

No Content

 

    23

     

    

 

Signature Page Only

 

Party A: Beijing Fengyuan Zhihui Education Technology
Co., Ltd.

 

Authorized Representative:

 

[    ]

 

    24

     

    

 

Signature Page Only

 

	Party B:	 	 
	 	 	 
	Yulong Yi	 	Ru Zhang
	 	 	 
	 	 	 
	 	 	 
	Shaowei Peng	 	Boyu Zhu
	 	 	 
	 	 	 
	 	 	 
	Junwei Cao	 	Zhenlei Li
	 	 	 
	 	 	 
	 	 	 
	Xiangle Sun	 	Wanwu Kang
	 	 	 
	 	 	 
	 	 	 
	Fengying Yu	 	Zhe Wang
	 	 	 
	 	 	 
	 	 	 
	Yue Wang	 	 
	 	 	 
	 	 	 

 

Signature Page Only

 

    25

     

    

 

Party C

 

Beijing Zhuoxun Century Culture Communication
Co., Ltd.

 

Authorized Representative:

 

[    ]

 

 

26Exhibit
10.5

 

Equity
Pledge Agreement

 

This
equity pledge agreement (hereinafter referred to as the “Agreement”) was signed by the following parties (hereinafter referred
to as the “Parties to the Agreement”) on February 5, 2021 in Beijing, China:

 

Party
A: Beijing Fengyuan Zhihui Education Technology Co., Ltd (refer herein as “Fengyuan Zhihui”)

Address:
Room 515, 5th Floor, No. 5 Haiying Road, Fengtai District, Beijing

 

Party
B:

 

Yulong
Yi, ID No. [*]

Address:
Jizhang Village, Gaocun Town, Yiyang County,Henan Province

 

Ru
Zhang, ID No. [*]

Address:
Cuidiwan Building 25, Door 1, 1402, 15 Street,Nanchang Road,Jianxi District, Luoyang City,Henan Province

 

Shaowei
Peng, ID No. [*]

Address:
Siling Village,Lianzhuang Town,Yiyang County, Henan Province

 

Boyu
Zhu, ID No. [*]

Address:
Luyuan Building 12,#3, 602, Manda Road,Manzhouli City, Neimenggu Province

 

Junwei
Cao, ID No. [*]

Address:
Shuizhai Village 1, Shuizhai Town, Yichuan County, Henan Province

 

Zhenlei
Li, ID No. [*]

Address:
Yanligou Village 59, Gaocun Town, Yiyang County, Henan Province

 

Xiangle
Sun, ID No. [*]

Address:
Sun Village #3, Minggao Town, Yichuan County, Henan Province

 

Wanwu
Kang, ID No. [*]

Address:
Gou Village #2, Limiao Zhen, Nanzhang County, Hubei Province

 

Fengying
Yu, ID No. [*]

Address:
Tucheng Village, Liusumu Town, Liangcheng County, Wulanchabumu City, Neimenggu Province

 

Zhe
Wang, ID No. [*]

Address:
Weiyi Road #3 Yard, Building 2, 39, Jinshui District, Zhengzhou City

 

Yue
Wang, ID No. [*]

Address:
Xingfu Street 75, Chongwen District, Beijing

 

     

     

    

 

As

 

1. Party
A is a foreign-invested enterprise that is legally established and validly existing in the territory of the People’s Republic of China

 

2. Beijing
Zhuoxun Century Culture Communication Co., Ltd. (“Zhuoxun Culture”) is a limited liability company incorporated in China

 

3.
 Parties to Party B are shareholders of Zhuoxun Culture (“Pledgors”), of which Yulong
Yi holds 53% of the equity, Ru Zhang holds 11% of the equity, Shaowei Peng holds 5% of the equity, Boyu Zhu holds 5% of the equity, Junwei
Cao holds 5% of the equity, Zhenlei Li holds 5% of the equity, Xiangle Sun holds 5% of the equity, Wanwu Kang holds 4% of the equity,
Fengying Yu holds 3% of the equity, Zhe Wang holds 2.5% of the equity and Yue Wang holds 1.5% of the equity.

 

4. Party
A, Party B and Zhuoxun Culture signed an exclusive consultation and service agreement, equity disposal agreement, and business operation
agreement on February 5, 2021;

 

5. In
order to ensure that Party A normally collects the service fees under the exclusive consultation and service agreement from Zhuoxun Culture,
which is owned by Party B, as well as the performance of the equity disposal agreement and business operation agreement, the pledgors
shall separately and jointly use the entire equity of Zhuoxun Culture owned by the pledgors as the pledge guarantee of the aforementioned
agreement, and Party A is the pledgee.

 

According
to this, the parties to the agreement have reached the following agreement through friendly consultations and based on the principle
of equality and mutual benefit to comply with:

 

1.
Definition

 

Unless
otherwise specified in this agreement, the following terms shall be interpreted as defined below:

 

1.1 Pledge:
Refers to all the contents listed in Article 2 of this agreement

 

1.2 Equity:
Indicate the 100% equity in Zhuoxun Culture jointly and legally held by the pledger and all current and future rights and interests based
on such equity

 

    2

     

    

 

1.3 Agreements:
Exclusive consultation and service agreements, equity disposal agreements, and business operation agreements signed by the Party A, Zhuoxun
Culture and other related parties on February 5, 2021.

 

1.4 Event
of Default: Refers to any of the circumstances listed in Article 7 of this Agreement.

 

1.5 Notice
of breach of contract: A notice issued by the nail party in accordance with this agreement announcing an event of breach of contract

 

2.
Pledge

 

2.1 The
pledger pledged all its equity in Zhuoxun Culture to Party A as a guarantee for Party A’s rights and interests under each agreement.

 

2.2 The
scope of the guarantee for the equity pledge under this agreement is all the expenses (including legal expenses), expenses and losses
to be borne and interest that Zhuoxun Culture and/or the pledger shall pay to Party A under each agreement , liquidated damages, damages,
costs for the realization of the creditor’s rights, and the responsibilities that Zhuoxun Culture and the pledgor shall bear to
Party A when all or part of the agreements are invalidated for any reason

 

2.3 The
pledge under this agreement is the right of the nail party to enjoy the priority to be paid for the price obtained by discounting, auctioning,
and selling the equity pledged by the pledger to Party A.

 

2.4 Unless
Party A otherwise expressly agrees in writing after this agreement comes into force, this will only be done after Zhuoxun Culture and
the pledger have properly performed all their obligations and responsibilities under each agreement and approved by Party A in writing.
The pledge under the agreement can be released. If Zhuoxun Culture or the pledgor fails to fully perform all or any part of its obligations
or responsibilities under the agreement when the time limit specified in each agreement expires, Party A still enjoys the pledge rights
specified in this agreement until the above-mentioned related obligations and responsibilities have been fully fulfilled in a manner
that is reasonably satisfactory to Party A

 

3.
Effect

 

3.1 This
Equity pledge agreement shall be established as of the date when the parties sign and stamp, and shall take effect from the date when
the pledge of equity is recorded in the register of shareholders

 

3.2 During
the pledge process, if Zhuoxun Culture fails to pay the service fee in accordance with the exclusive consultation and service agreement,
or fails to perform other terms under these agreements or any terms under the business operation agreement or equity disposal agreement,
after reasonable notice, Party A has the right to exercise the right of pledge in accordance with the provisions of this agreement

 

    3

     

    

 

4.
Possession and custody of pledge certificates

 

4.1 The
pledger shall deliver its equity capital contribution certificate (original) in Zhuoxun Culture to Party A for safekeeping within ten
working days from the date of signing this agreement or an earlier time agreed by all parties, and send it to Party A. Submit the proof
that the pledge under this agreement has been properly registered on the shareholder register, go through all the approval, registration
and filing procedures required by the laws and regulations of the People’s Republic of China, and submit the equity pledge registration
documents completed in the industrial and commercial registration authority

 

4.2 If
the pledge record changes and the change record are required in accordance with the law, Party A and Party B shall make the corresponding
change record within five working days from the date of the record change, and submit the relevant change registration documents.

 

4.3 During
the equity pledge period, the pledger shall instruct Zhuoxun Culture not to distribute any dividends, bonuses, or adopt any profit distribution
plan; if the pledger shall obtain any other property except dividends, bonuses or other profit distribution plans for the pledge of equity
the pledgor shall instruct Zhuoxun Culture to remit the relevant (realized) funds directly to the bank account designated by Party A
according to Party A’s request. Without Party A’s prior written consent, the pledgor shall not use it.

 

4.4 During
the equity pledge period, if the pledger subscribes for Zhuoxun Culture’s new registered capital or transfers Zhuoxun Culture’s
equity held by other pledgers (the “new equity”), this part of the newly added equity will automatically become under this
agreement the pledger shall complete the procedures required to set up the pledge with the newly added equity within 10 working days
after obtaining the newly added equity. If the pledgor fails to complete the relevant procedures in accordance with the foregoing provisions,
Party A has the right to immediately realize the pledge rights in accordance with the provisions of Article 8 of this agreement

 

    4

     

    

 

5.
Pledgor’s declaration and guarantee

 

The
pledgor made the following statements and guarantees to Party A when signing this agreement, and confirmed that Party A relied on these
statements and guarantees to sign and perform this agreement:

 

5.1 The
pledger legally holds the equity under this agreement and has the right to provide a pledge guarantee to Party A with such equity

 

5.2 From
the date of signing of this agreement to the period when Party A enjoys the pledge in accordance with the provisions of item 2.4 of this
agreement, at any time, once Party A exercises Party A’s rights or realizes the pledge in accordance with the essential pledge
agreement, there shall be no Any other party’s legal claims or legitimate interference

 

5.3 Party
A has the right to exercise the pledge rights in the manner prescribed by laws, regulations and this agreement.

 

5.4 It
has signed this agreement and performed its obligations under this agreement, has obtained all necessary company authorizations and does
not violate any applicable laws and regulations, and the authorized representative signatory of this agreement has been legally and effectively
authorized

 

5.5 The
equity held by the pledger does not have any other rights burdens or any form of third party security rights (including but not limited
to pledges)

 

5.6 There
is no ongoing civil, administrative or criminal litigation, administrative penalty or arbitration related to equity, and there is no
civil, administrative or criminal litigation, administrative penalty or arbitration that will occur

 

5.7 There
are no due but unpaid taxes, fees or legal procedures or procedures that should be completed but not completed related to equity

 

5.8 Each
clause of this agreement is the expression of its true meaning and is legally binding.

 

6.
Pledgor’s Commitment

 

6.1 During
the duration of this agreement, the pledgor promises to Party A that the pledgor will:

 

6.1.1
Except for the transfer of equity to Party A or a person designated by Party A at the request of Party A, the equity shall not be transferred
without Party A’s prior written consent, and shall not establish or allow any other rights such as pledge that may affect Party A’s rights
and interests Burden or any form of third party security interest

 

    5

     

    

 

6.1.2
Comply with and implement all relevant applicable laws and regulations, and upon receipt of notices, instructions or suggestions issued
or formulated by relevant competent authorities regarding pledge rights, present the aforementioned notices, instructions or suggestions
to Party A within five working days, and Act in accordance with Party A’s reasonable instructions;

 

6.1.3
Any event or notice received that may affect the rights of the pledger’s equity or any part thereof, and may change any of the
pledger’s obligations in this agreement, or to the pledger’s performance of the pledge in this agreement Any event that may
have an impact on the obligation or relevant notifications received shall notify Party A in a timely manner, and act in accordance with
Party A’s reasonable instructions

 

6.2
The pledgor agrees that Party A’s exercise of Party A’s rights in accordance with the terms of this agreement shall not be
interrupted or hindered by the pledgor or the pledgor’s successor or assignee or any other person

 

6.3
The pledgor guarantees to Party A that in order to protect or improve the guarantee for the pledger and/or Zhuoxun Culture’s obligations
under this agreement, the pledgor will make all necessary changes to Zhuoxun Culture’s articles of association (such as (Applicable),
honestly sign and urge other parties interested in the pledge to sign all the rights certificates, contracts, and/or perform and urge
other interested parties to perform the actions required by Party A, And to provide convenience for Party A to exercise the pledge right,
sign all relevant equity certificate change documents with Party A or any third party designated by it, and provide Party A with all
relevant pledge documents that it considers necessary within a reasonable period.

 

6.4
The pledgor guarantees to Party A that, for the benefit of Party A, the pledgor will abide by and perform all guarantees, promises, agreements
and statements. If the pledgor fails to perform or does not fully perform its guarantees, promises, agreements and statements, the pledgor
shall compensate Party A for all losses suffered thereby.

 

    6

     

    

 

7.
Breach Matters

 

7.1
The following matters are regarded as breach of contract

 

7.1.1
Zhuoxun Culture, or its successors or assigns fail to pay any amounts due under each agreement in full and on time, or the pledger or
its successors or assigns fail to perform its business operation agreement or equity disposal Obligations of agreements, exclusive consultations
and service agreements;

 

7.1.2
Any statement, guarantee, or promise made by the pledgor in Article 5 and Article 6 of this agreement is substantially misleading or
wrong, and/or the pledger violates Article 5, Article 6 of the agreement, guarantee, or committed to;

 

7.1.3
The pledgor seriously violated any clause of this agreement;

 

7.1.4
Except as stipulated in 6.1.1 of this agreement, the pledger abandons the pledged equity or transfers the pledged equity without obtaining
the written consent of Party A

 

7.1.5
Any external borrowing, guarantee, compensation, promise or other debt repayment responsibilities of the pledgor itself are required
to be repaid or performed in advance due to breach of contract or have expired but cannot be repaid or performed as scheduled, so that
Party A has reason to believe that the pledgor has performed this agreement The ability of the obligations under the item has been affected,
and the interests of Party A are further affected;

 

7.1.6
The pledger is unable to repay general debts or other debts, and further affect the interests of Party A

 

7.1.7
The promulgation of relevant laws makes this agreement unlawful or the pledgor cannot continue to perform its obligations under this
agreement;

 

7.1.8
If this agreement can be executed or made legal or effective, any government department’s consent, permission, approval or authorization
is withdrawn, suspended, invalidated or substantially modified

 

7.1.9
Due to adverse changes in the property owned by the pledgor, Party A believes that the ability of the pledgor to perform its obligations
under this agreement has been affected

 

7.1.10
According to relevant laws and regulations, Party A cannot exercise the right of disposition pledge.

 

7.2
If it is known or discovered that any of the matters mentioned in Article 7.1 above or events that may lead to the above matters have
occurred, the pledgor shall immediately notify Party A in writing.

 

7.3
Unless the breaches listed in paragraph 7.1 of this article have been satisfactorily resolved to the satisfaction of Party A, Party A
may issue a written notice of breach to the pledgor at any time after the occurrence of the pledgor’s breach of contract. , Require
the pledgor to immediately pay the arrears and other payables under each agreement, or promptly perform the equity disposal agreement
and business operation agreement. If the pledgor or Zhuoxun Culture fails to correct its breach of contract or take necessary remedies
within ten days from the date of issuing such written notice, Party A shall have the right to exercise the right of pledge in accordance
with Article 8 of this agreement.

 

    7

     

    

 

8.
Exercise of pledge

 

8.1
Before the expenses and obligations under each agreement are fully fulfilled, the pledger shall not transfer the equity without the written
consent of Party A.

 

8.2
When Party A exercises the right of pledge, it shall issue a notice of breach of contract to the pledgor in accordance with Article 7.3
of this agreement

 

8.3
Subject to the provisions of Article 7.3, Party A may exercise the pledge right at any time after issuing a notice of breach of contract
in accordance with Article 7.3

 

8.4
Party A has the right to discount all or part of the equity under this agreement in accordance with legal procedures, or receive priority
compensation from the auction or sale of the equity, until the unpaid service fees and all other payables under each agreement are offset
Completion, and the equity disposal agreement and business operation agreement are all fulfilled

 

8.5
When Party A exercises the pledge rights in accordance with this agreement, the pledgor shall not set up obstacles, and shall provide
necessary assistance to enable Party A to realize its pledge rights.

 

9.
Transfer

 

9.1
Unless Party A expressly agrees in writing in advance, the pledgor has no right to transfer any of its rights and/or obligations under
this agreement to a third party.

 

9.2
This agreement is binding on the pledgor and its successors, and is valid for Party A and its successors or assigns.

 

9.3
Party A may at any time transfer all or any of its rights and obligations under each agreement to any third party designated by it. In
this case, the transferee shall enjoy and bear the rights and obligations of Party A under this agreement. The rights and obligations
assumed. When Party A transfers the rights and obligations under each agreement, at the request of Party A, the pledgor shall sign relevant
agreements and/or documents for the transfer

 

9.4
After the pledgee is changed due to the transfer, both parties to the new pledge shall sign a pledge agreement again and the pledger
shall be responsible for all relevant registration procedures

 

    8

     

    

 

10.
Handling fees and other fees

 

10.1
All costs and actual expenses related to this agreement, including but not limited to legal fees, cost, stamp duty, and any other taxes,
expenses, etc. shall be borne by each party

 

11. Force
Majeure

 

11.1
When the performance of this agreement is delayed or obstructed due to any “force majeure event”, the party affected by the
force majeure does not need to bear any responsibility under this agreement only for this part of the delayed or obstructed performance.
“Force majeure event” refers to any event that is beyond the reasonable control of a party and is still unavoidable under the
reasonable attention of the affected party, including but not limited to government actions, natural forces, fires, explosions, and geography.
Change, storm, flooding, earthquake, tide, lightning or war. However, insufficient credit, funds or financing shall not be regarded as
matters beyond the reasonable control of one party. A party seeking to be exempted from performance under this agreement or under any
clause of this agreement affected by the “force majeure event” shall notify the other party of the exemption of liability as
soon as possible and inform it of the steps to be taken to complete the performance.

 

11.2
The party affected by force majeure does not need to bear any responsibilities under this agreement, but only if the affected party does
its best to perform the agreement, the party seeking exemption from liability can be able to perform this responsibility The exemption
is limited to the part of the performance that is delayed or hindered. Once the reasons for such exemption of liability are corrected
or remedied, the parties agree to use their best efforts to resume performance under this agreement

 

12.
Application of law and dispute resolution

 

12.1
The signing, validity, performance and interpretation of this agreement, as well as the settlement of disputes, are governed by the laws
of the People’s Republic of China and interpreted in accordance with the laws of the People’s Republic of China

 

12.2
When the parties to this agreement have a dispute over the interpretation and performance of the terms under this agreement, the parties
shall resolve the dispute through negotiation in good faith. If the negotiation fails, either party can submit the relevant dispute to
the China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules.
The place of arbitration shall be Beijing, and the language of arbitration shall be Chinese. The arbitration award shall be final and
binding on all parties

 

12.3
Except for matters in dispute between the parties, the parties shall continue to perform their respective obligations in accordance with
the provisions of this agreement in good faith.

 

    9

     

    

 

13. Notice

 

The
notices issued by the parties to this agreement to perform their rights and obligations under this agreement shall be made in writing
and sent in the form of personal delivery, registered mail, postage prepaid mail, approved courier service, or graphic fax To the party
concerned or the following address of each party

 

Party
A: Beijing Fengyuan Zhihui Education Technology Co., Ltd (refer herein as Fengyuan Zhihui)

Address:
Room 515, 5th Floor, No. 5 Haiying Road, Fengtai District, Beijing

Recipient:
Ru Zhang

 

Party
B:

 

Yulong
Yi,

Phone:
[*]

Address:
Jizhang Village, Gaocun Town, Yiyang County, Henan Province

 

Ru
Zhang,

Phone:
[*]

Address:
Cuidiwan Building 25,Door 1, 15 Street, Nanchang Road,Jianxi District, Luoyang City, Henan Province

 

Shaowei
Peng,

Phone:
[*]

Address:
Siling Village, Lianzhuang Town, Yiyang County, Henan Province

 

Boyu
Zhu,

Phone:
[*]

Address:
Huayuan Building 12,#3, Room 602, Manda Road, Manzhouli City, Neimenggu Province

 

Junwei
Cao,

Phone:
[*]

Address:
Shuizhai Village 1, Shuizhai Town, Yichuan County, Henan Province

 

Zhenlei
Li

Phone:
[*]

Address:
Yanligou Village 59,Gaocun Town, Yiyang County, Henan Province

 

    10

     

    

 

Xiangle
Sun

Phone:
[*]

Address:
Sun Village 3, Minggao Town, Yichuan County, Henan Province

 

Wanwu
Kang,

Phone:
[*]

Address:
Goucun #2, Limiao Town, Nanzhang County, Hubei Province

 

Fengying
Yu,

Phone:
[*]

Address:
Tucheng Village, Liusumu Town, Liangcheng County, Wulanchabu City, Neimenggu Province

 

Zhe
Wang

Phone:
[*]

Address:
Weiyi Road #3 Yard, Building 2, 39, Jinshui District, Zhengzhou City

 

Yue
Wang,

Phone:
[*]

Address:
Xingfu Street 75, Chongwen District, Beijing

 

14.
Attachment

 

The
attachments listed in this agreement are an integral part of this agreement.

 

15.
Waiver

 

When
Party A fails to exercise or delays the exercise of any rights, remedies, powers or privileges under this agreement, it shall not be
regarded as a waiver of such rights, remedies, powers or privileges. Or any single or partial exercise of privileges does not preclude
Party A from exercising any other rights, remedies, powers or privileges. The rights, remedies, powers and privileges stipulated in this
agreement are cumulative and do not exclude the application of any rights, remedies, powers and privileges provided by any law.

 

16.
Others

 

16.1
Any modification, supplement or change of this agreement must be in written form and become effective after being signed and sealed by
all parties

 

16.2
The parties hereby confirm that this agreement is a fair and reasonable agreement reached by the parties on the basis of equality and
mutual benefit. If any clause under this agreement is invalid or unenforceable due to inconsistency with the relevant law, the clause
shall only be invalid or unenforceable within the jurisdiction of the relevant law, and shall not affect the legal validity of other
provisions of this agreement

 

16.3
This agreement is written in Chinese, twelve originals, and each party holds one copy.

 

    11

     

    

 

Signature
Page Only

 

Party
A: Beijing Fengyuan Zhihui Education Technology Co., Ltd

 

Authorized
Representative:

 

[company’s
seal]

 

 

    12

     

    

 

Signature
Page Only

 

	Party B:	 	 
	 	 	 
	Yulong Yi	 	Ru Zhang
	 	 	 
	/s/ Yulong Yi	 	/s/ Ru Zhang
	 	 	 
	Shaowei Peng	 	Boyu Zhu
	 	 	 
	/s/ Shaowei Peng	 	/s/ Boyu Zhu
	 	 	 
	Junwei Cao	 	Zhenlei Li
	 	 	 
	/s/ Junwei Cao	 	/s/ Zhenlei Li
	 	 	 
	Xiangle Sun	 	Wanwu Kang
	 	 	 
	/s/ Xiangle Sun	 	/s/ Wanwu Kang
	 	 	 
	Fengying Yu	 	Zhe Wang
	 	 	 
	/s/ Fengying Yu	 	/s/ Zhe Wang
	 	 	 
	Yue Wang	 	 
	 	 	 
	/s/ Yue Wang	 	 

 

    13

     

    

 

Attachments:

 

		1.	Zhuoxun
Culture Shareholder’s list

 

		2.	Beijing
Zhuoxun Century Culture Communication Co., Ltd capital contribution

 

 

14

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