Document:

EX-10.29

 Exhibit 10.29 

Loan Agreement 
 This Loan
Agreement (the “Agreement”) is entered into by and between the following Parties on February 8, 2018 in Beijing, People’s Republic of China (the “PRC”): 

(1) Tencent Music (Beijing) Co., Ltd. (the “Lender”), a wholly foreign-owned enterprise incorporated and existing under
the laws of the PRC, with its registered address at Room 303, 3rd Floor of 101, -2nd to 8th Floor, No.7 Building, East Tianchen Road, Chaoyang District, Beijing; 

(2) Yang Qihu (the “Borrower”), a Chinese citizen with Identification No.
[                    ]. 
 The Lender
and the Borrower shall hereinafter be referred to as a “Party” respectively and as the “Parties” collectively. 

Whereas: 
  

	1.	As of the date of this Agreement, the Borrower holds 50% equity interests in Xizang Qiming Music Co., Ltd. (the “Borrower’s Company”). All the existing and future equity rights and interests the
Borrower holds in the Borrower’s Company are referred to as the “Borrower’s Equity Interest”; 

  

	2.	The Lender agrees to provide a loan RMB 5 million to the Borrower for the purposes as specified in this Agreement. 

Upon friendly negotiation, the Parties have reached the following agreements for their mutual compliance: 

 

	1	Loan 

  
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	 	1.1	The Lender agrees to provide a loan of RMB 5 million to the Borrower in accordance with the terms hereof (the “Loan”). During the term of this Agreement, the Lender shall provide to the Lender the
respective amounts within one (1) month upon receipt of the notice by the Borrower requesting the provision of all or part of the Loan. The Loan shall be a long-term loan. During the term of the Loan, if any of the following events occurs, the
Lender shall repay the Loan immediately in advance: 

  

	 	1.1.1	30 days have passed upon the Borrower’s receipt of the written notice by the Lender requesting the repayment of the Loan; 

  

	 	1.1.2	The Borrower dies or becomes a person without capacity or with limited capacity for civil acts; 

  

	 	1.1.3	The Borrower is no longer the shareholder of the Borrower’s Company or its affiliates, or resigns from the Lender, the Borrower’s Company or its affiliates, regardless of the reasons thereof;

  

	 	1.1.4	The Borrower commits a crime or is involved in a crime; 

  

	 	1.1.5	According to the applicable PRC laws, the foreigners may invest controlling shareholding or wholly in the existing major business of the Borrower’s Company and the relevant authorities in PRC begin to approve such
business, and also the Lender decides to exercise its right of exclusive option in accordance with the Exclusive Option Agreement (together with its amendments from time to time, the “Exclusive Option Agreement”) to which it is a
party. 

  
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	 	1.2	The Loan by the Lender under this Agreement only applies to the Borrower himself or herself, not his or her successors or assignees. 

 

	 	1.3	The Borrower agrees to accept the aforesaid loan provided by the Lender, and hereby agrees and warranties to use the Loan to pay for its investment or increase in the registered capital of the Borrower’s Company or
the working capital of the Borrower’s Company. Unless with prior written consent of the Lender, the Borrower will not use the Loan for any other purpose. 

  

	 	1.4	The Lender and the Borrower hereby agree and confirm that the Borrower may repay the loan only by the following methods as required by the Lender: according to the Lender’s right to purchase the Borrower’s
Equity Interest under the Exclusive Option Agreement, transfer all the equity interest in the Borrower’s Company to the Lender or any person (legal person or individual) as designated by the Lender, and use any proceeds obtained through the
transfer of equity interests in the Borrower’s Company (to the extent as permitted) to repay the Loan in accordance with this Agreement to the Lender in the method as designated by the Lender. 

 

	 	1.5	The Lender and the Borrower hereby agree and confirm that, to the extent as permitted by the applicable laws, the Lender shall be entitled to, but not be obliged to, purchase or designate any person (legal person or
individual) to purchase all or part of the Borrower’s Equity Interest at any time, at a price as specified in the Exclusive Option Agreement. 

  
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	 	1.6	The Borrower also warranties to execute an irrevocable voting trust agreement (together with its amendments from time to time, the “Voting Trust Agreement”), which authorizes the Lender or a legal
person or an individual as designated by the Lender to exercise all his or her rights as a shareholder in the Borrower’s Company. 

  

	 	1.7	The Loan under this Agreement will be deemed as an interest-free loan if the price to transfer the Borrower’s Equity Interest from the Borrower to the Lender or any person as designated by the Lender is equal to or
less than the amount of the Loan under this Agreement. However, if such transfer price exceeds the amount of the Loan under this Agreement, the exceeding amount will be deemed as the interest upon the Loan under this Agreement and repaid to the
Lender from the Borrower. 

  

	2	Representations and Warranties 

  

	 	2.1	The Lender represents and warrants to the Borrower that from the date of this Agreement until termination hereof: 

  

	 	2.1.1	It is a company duly incorporated and validly existing under the PRC laws; 

  

	 	2.1.2	it has the power to execute and perform this Agreement. Its execution and performance of this Agreement are in compliance with its business scope, articles of association or other organizational documents, and it has
received all approvals and authorities necessary and appropriate to execute and perform this Agreement; and 

  
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	 	2.1.3	This Agreement, once executed, becomes legal, valid and enforceable obligations upon the Lender. 

  

	 	2.2	The Borrower represents and warrants that from the date of this Agreement until termination hereof: 

  

	 	2.2.1	he or she has the power to execute and perform this Agreement, and has received all approvals and authorities necessary and appropriate to execute and perform this Agreement; 

 

	 	2.2.2	This Agreement, once executed, becomes legal, valid and enforceable obligations upon the Borrower; and 

  

	 	2.2.3	There is no existing or potential dispute, suit, arbitration, administrative proceeding or any other legal proceeding in which the Borrower is involved. 

 

	3	Covenants from the Borrower 

  

	 	3.1	The Borrower covenants in his or her capacity of the shareholder of the Borrower’s Company that during the term of this Agreement he or she will procure the Borrower’s Company: 

 

	 	3.1.1	to strictly comply with the provisions of the Exclusive Option Agreement and the exclusive technical service agreement (together with its amendments from time to time, the “Exclusive Technical Service
Agreement”) to which it is a party, and to refrain from any action/omission that may affect the effectiveness and enforceability thereof; 

  
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	 	3.1.2	to execute any contract or agreement regarding the business cooperation with the Lender (or any party as designated by the Lender) upon the request of the Lender (or any party as designated by the Lender), and to ensure
the strict performance of such contract agreement; 

  

	 	3.1.3	to provide to the Lender any and all information regarding its operations and financial conditions upon the request of the Lender; 

  

	 	3.1.4	to immediately notify the Lender of any actual or potential litigation, arbitration or administrative proceeding regarding its assets, business and income; 

 

	 	3.1.5	to appoint any person as nominated by the Lender to its board upon the request of the Lender. 

  

	 	3.2	The Borrower covenants during the term of this Agreement: 

  

	 	3.2.1	to procure at his or her best efforts the Borrower’s Company to conduct its major business, the specific scope of which shall be subject to the business license; 

 

	 	3.2.2	to strictly comply with the provisions of this Agreement, the Voting Trust Agreement, the Equity Interest Pledge Agreement (together with is amendments from time to time, the “Equity Interest Pledge
Agreement”) and the Exclusive Option Agreement to which he or she is a party, perform the obligations thereunder, and to refrain from any action/omission that may affect the effectiveness and enforceability thereof; 

  
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	 	3.2.3	except as provided under the Equity Interest Pledge Agreement, not to sell, transfer, pledge or otherwise dispose any legal or beneficial interest of the Borrower’s Equity Interest, or allow creation of any other
security interests thereupon; 

  

	 	3.2.4	to procure the shareholders and/or the board of directors of the Borrower’s Company not to approve any sale, transfer, pledge or otherwise disposal of any legal or beneficial interest of the Borrower’s Equity
Interest, or creation of any other security interests thereupon without prior written consent from the Lender, except to the Lender or its designated person; 

  

	 	3.2.5	to procure the shareholders and/or the board of the directors of the Borrower’s Company not to approve its merger or association with, or acquisition of or investment in any person without prior written consent
from the Lender; 

  

	 	3.2.6	to immediately notify the Lender of any actual or potential litigation, arbitration or administrative proceeding regarding the Borrower’s Equity Interest; 

 

	 	3.2.7	to execute any document, conduct any action, and make any claim or defense, necessary or appropriate to maintain his or her ownership of the Borrower’s Equity Interest; 

 

	 	3.2.8	not to make any act and/or omission which may affect any asset, business or liability of the Borrower’s Company without prior written consent from the Lender; 

  
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	 	3.2.9	to appoint any person as nominated by the Lender to the board of the Borrower’s Company upon the request of the Lender; 

  

	 	3.2.10	to the extent as permitted under the PRC laws and upon the request of the Lender at any time, to transfer unconditionally and immediately the Borrower’s Equity Interest to the Lender or any person as designated by
it, and procure any other shareholder of the Borrower’s Company to waive the right of first refusal regarding such transfer of equity interest under this Section; 

 

	 	3.2.11	to the extent permitted under the PRC laws and upon the request of the Lender at any time, to procure any other shareholder of the Borrower’s Company to transfer unconditionally and immediately all the equity
interests owned by such shareholder to the Lender or any person as designated by it, and the Borrower hereby waives his or her right of first refusal regarding such transfer of equity interest under this Section; 

 

	 	3.2.12	if the Lender purchases the Borrower’s Equity Interest from the Borrower pursuant to the Exclusive Option Agreement, to use the price of such purchase to repay the Loan to the Lender on priority; and

  

	 	3.2.13	not to supplement, revise or amend its articles of association in any way, increase or decrease its registered capital, or change its shareholding structure in any way without prior written consent from the Lender.

  
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	4	Default Liabilities 

  

	 	4.1	In the event that the Borrower materially breaches any provision under this Agreement, the Lender is entitled to terminate this Agreement and claim damages from the Borrower; this Section 4.1 shall not preclude any
other rights entitled to the Lender as provided under this Agreement. 

  

	 	4.2	The Borrower may not terminate or cancel this Agreement in any event unless otherwise provided under the laws. 

  

	 	4.3	If the Borrower fails to repay the Loan pursuant to the terms under this Agreement, he or she will be liable for a penalty interest accrued upon the amount due and payable at a daily interest rate of 1‱ until the Loan as well as any penalty interest and any other amount accrued thereupon are fully repaid by the Borrower. 

 

	5	Notices 

  

	 	5.1	All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by
facsimile transmission to the designated address of such party as listed below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which notices shall be deemed to have been
effectively delivered shall be determined as follows: 

  
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	 	5.1.1	Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively delivered upon the delivery. 

 

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

 

	 	5.2	For the purpose of notification, the addresses of the Parties are as follows: 

 The Lender:
Tencent Music (Beijing) Co., Ltd. 
 Address: Mail Center, 7th Floor, China Technology Exchange Building, No.66 West Road, North
4th Ring Road, Haidian District, Beijing 
 Attention: Zhao Xiang 

Tel: [                    ] 

The Borrower: Yang Qihu 

Address: Mail Center, 7th Floor, China Technology Exchange Building, No.66 West Road, North 4th Ring Road, Haidian District, Beijing

 Tel: [                    ]

  

	 	5.3	Each Party may at any time change its address for notices by delivering a notice to the other Party in accordance with this Section. 

 

	6	Confidentiality 

 The Parties acknowledge and confirm that the terms of this Agreement
and any oral or written information exchanged among the Parties in connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall keep all such confidential information confidential, and
shall not, without prior written consent of the other Party, disclose any confidential information to any third parties, except for information: (a) that is or will be available to the public (other than through the unauthorized disclosure to
the public by the Party receiving confidential information); (b) that is required to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) that
is disclosed by any Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, legal counsels or financial advisors
shall be bound by the confidentiality obligations similar to the terms set forth in this Section. Disclosure of any confidential information by the shareholders, directors, employees or entities engaged by any Party shall be deemed as disclosure of
such confidential information by such Party, which Party shall be held liable for breach of contract. 

  
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	7	Governing Law and Disputes Resolution 

  

	 	7.1	The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the resolution of any disputes hereunder shall be governed by the PRC laws. 

 

	 	7.2	Any disputes arising in connection with the implementation and performance of this Agreement shall be settled through friendly consultations among the Parties, and where such disputes are still unsolved within thirty
(30) days upon issuance of the written notice by one Party to the other Party for consultations, such disputes shall be submitted by either Party to the China International Economic and Trade Arbitration Commission for arbitration in accordance
with its then effective arbitration rules. The arbitration shall take place in Beijing. The arbitration award shall be final and binding upon all the Parties. 

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

  

	8	Miscellaneous 

  

	 	8.1	This Agreement shall be effective as of the date of its execution and expire until the Parties have performed their respective obligations under this Agreement. 

 

	 	8.2	This Agreement is written in Chinese in two (2) originals, with each of the Lender and the Borrower holding one original. 

  

	 	8.3	The Parties may amend and supplement this Agreement in writing. Any amendment and/or supplement to this Agreement by the Parties is an integral part of and has the same effect with this Agreement. 

 

	 	8.4	In the event that one or several 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 of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable 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. 

  
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	 	8.5	The attachments to this Agreement (if any) is an integral part of and has the same effect with this Agreement. 

  

	 	8.6	Any obligation that occurs or becomes due under this Agreement prior to the expiry of this Agreement or early termination shall survive the expiration or early termination of this Agreement. The provisions under
Section 4, Section 6, Section 7 and this Section 8.6 shall survive the termination of this Agreement. 

  
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 IN WITNESS HEREOF, the Parties have caused this Loan Agreement to be executed by their respective
authorized representative on the date first above written. 
  

			
	 The Lender: Tencent Music (Beijing) Co., Ltd. 

 

			
	 /s/ Seal of Tencent Music (Beijing) Co.,
Ltd.

			
		
	Signature:	 	 /s/ Hu Min

	
	Name: Hu Min

			
	
	Title: Legal Representative
	
	The Borrower: Yang Qihu

			
		
	Signature:	 	 /s/ Yang QihuEX-10.30

 Exhibit 10.30 

Equity Interest Pledge Agreement 

By and among 

Shareholders Listed in Schedule A 

Tencent Music (Beijing) Co., Ltd. 

And 
 Guangzhou Kugou
Computer Technology Co., Ltd. 
 Regarding 

Guangzhou Kugou Computer Technology Co., Ltd. 

March 26, 2018 

 EQUITY INTEREST PLEDGE AGREEMENT 

This Equity Interest Pledge Agreement (this “Agreement”) is entered into on March 26, 2018 by and among: 

 

	1.	All shareholders listed in Schedule A. Please refer to Schedule A for detailed information of each shareholder. 

(Each shareholder listed in Schedule A shall be hereinafter referred to as a “Pledgor” respectively, and as the
“Pledgors” collectively.) 
  

	2.	Tencent Music (Beijing) Co., Ltd. (hereinafter referred to as the “Pledgee”) 

Registered Address: Room 303, 3rd Floor of 101, -2nd to 8th Floor, No.7 Building, East Tianchen Road, Chaoyang District, Beijing. 

Legal Representative: Hu Min 
  

	3.	Guangzhou Kugou Computer Technology Co., Ltd. (hereinafter referred to as the “Company”) 

Registered Address: Room 1301, Building 2, No. 16 Keyun Road, Tianhe District, Guangzhou. 

Legal Representative: Hu Min 
 (In this
Agreement, each of the Pledgors, the Pledgee and the Company shall be referred to as a “Party” respectively, and as the “Parties” collectively.) 

WHEREAS: 
  

	(1)	The Pledgors are registered shareholders on record of the Company as of the execution date of this Agreement, aggregately holding 100% of the equity interests in the Company (hereinafter the “Company
Equities”). Upon the execution date of this Agreement, the Pledgors’ capital contributions to the registered capital of the Company and proportions of shareholding are set out in Schedule A hereto. 

 

	(2)	The Parties herein have executed an Exclusive Option Agreement on July 12, 2016 (hereinafter the “Exclusive Option Agreement”), pursuant to which the Pledgors shall, to the extent permitted
by the PRC Laws, transfer all or partial Company Equities held by the Pledgors to the Pledgee and/or any other entity or individual designated by the Pledgee in accordance with the Pledgee’s request. 

 

	(3)	The Parties herein have executed a Voting Trust Agreement on July 12, 2016 (hereinafter the “Voting Trust Agreement”), pursuant to which the Pledgors shall irrevocably entrust its full rights and
authorities to the person designated by the Pledgee on the occasion to exercise all the shareholder voting power granted to the Pledgors in the Company. 

  
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	(4)	The Company and the Pledgee have executed an Exclusive Technical Service Agreement on July 12, 2016 (hereinafter the “Service Agreement”), pursuant to which the Company exclusively employs the
Pledgee to provide relevant technical services, and agrees to pay the corresponding service fees to the Pledgee for such technical services. 

  

	(5)	Mr. Xie Guomin, Mr. Chen Xiaotao and the Pledgee have executed a Loan Agreement (hereinafter the “Loan Agreement”) on April 21, 2014, pursuant to which the Pledgee has provided a loan of
RMB128,800,000 to Mr. Xie Guomin and Mr. Chen Xiaotao; Mr. Chen Xiaotao, Mr. Qiu Zhongwei and the Pledgee have executed a Transfer and Offset of Creditor’s Rights Agreement on March 20, 2017, pursuant to which
Mr. Qiu Zhongwei inherits all of Mr. Chen Xiaotao’s rights and obligations under the Loan Agreement (Mr. Qiu Zhongwei and Mr. Xie Guomin, collectively as the “borrowers”). 

 

	(6)	As security for the performance of the Contractual Obligations (as defined hereunder) and for the full payment of the Secured Indebtedness, the Pledgors agree to pledge all their equity interests held by them in the
Company in favor of the Pledgee, and grant the Pledgee the most prioritized pledge right, with the Company’s consent on such equity pledge arrangement. 

THEREFORE, upon mutual discussion, the Parties agree as follows: 
  

	1	Definitions 

  

	 	1.1	Unless otherwise defined by the context, the following terms shall have the following meanings in this Agreement: 

 

			
	 Contractual
 Obligations
	  	shall refer to (i) for the Pledgors excluding the borrowers, all the contractual obligations under the Exclusive Option Agreement, the Voting Trust Agreement and this Agreement; (ii) for the borrowers, all the contractual
obligations under the Exclusive Option Agreement, Voting Trust Agreement and this Agreement; (iii) for the Company, all the contractual obligations under the Exclusive Option Agreement, Voting Trust Agreement, Service Agreement and this
Agreement.

  
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	Secured Indebtedness	  	shall refer to the Company’s obligation to pay the service fees under the Service Agreement and other obligations, the borrowers’ obligations of repayment, and all the direct, indirect and derivative losses and losses
of anticipated profits, suffered by the Pledgee, incurred as a result of any Event of Default (as defined hereunder) by the Pledgors and/or the Company. The amount of such loss shall be calculated in accordance with, without limitation, the
reasonable business plan and profit forecast of the Pledgee, the service fees payable by the Company to the Pledgee under the Service Agreement, the principal payable by the borrowers under the Loan Agreement, and all expenses occurred in connection
with enforcement by the Pledgee of the Pledgor’s and/or the Company’s Contract Obligations.
		
	Transaction Agreement	  	shall refer to the Exclusive Option Agreement, the Voting Trust Agreement, the Service Agreement and the Loan Agreement.
		
	 Event of
 Default
	  	shall refer to any breach to any contractual obligations under the Exclusive Option Agreement by the Pledgors excluding the borrowers, any borrower’s breach to any contractual obligations under the Exclusive Option
Agreement, the Voting Trust Agreement, the Loan Agreement and/or this Agreement, and the Company’s breach to any contractual obligations under the Exclusive Option Agreement, the Voting Trust Agreement, the Service Agreement and/or this
Agreement.
		
	 Pledged
 Equity
	  	shall refer to all Company Equities legally held by the Pledgors upon the effective date of this Agreement (the specific equity interest pledged by each Pledgor is set out in Schedule A in this Agreement), the increased capital
contribution and dividend under Clauses 2.6 and 2.7 herein, and other equity interest in the Company held by the Pledgors by any others means.
		
	PRC Laws	  	shall refer to the then effective laws, administrative regulations, administrative rules, local regulations, judicial interpretations and other binding regulatory documents of the People’s Republic of China (for the purpose
of this Agreement, excluding Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan).

  

	 	1.2	In this Agreement, any reference to any PRC Laws shall be deemed to include (1) a reference to such PRC Laws as modified, amended, supplemented or reenacted, effective before or after the date of this Agreement;
and (2) a reference to any other decision, circular or rule made pursuant to such PRC Laws or effective as a result of such PRC Laws. 

  

	 	1.3	Unless otherwise stated in the context of this Agreement, a reference to a provision, clause, section or paragraph shall refer to a corresponding provision, clause, section or paragraph of this Agreement.

  
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	2	Equity Pledge 

  

	 	2.1	The Pledgors hereby agree to pledge, in accordance with the terms of this Agreement, their lawfully owned and disposable equity interests in favor of the Pledgee as the security for the repayment of the Secured
Indebtedness. The Company hereby agrees that Pledgors pledge the Pledged Equities in favor of the Pledgee in accordance with the terms of this Agreement. 

  

	 	2.2	The Pledgors undertake to record the share pledge arrangements (“Share Pledge”) in the register of shareholders on the effective date of this Agreement. The Pledgors further undertake to make the best
efforts and take all necessary actions to apply with the competent industrial and commercial authority for the registration of the Pledged Equity under this Agreement within ten (10) business days after the execution date of this Agreement. The
Pledgors and the Pledgee shall, pursuant to PRC Laws and all requirements of relevant industrial and commercial authorities, submit all necessary documents and deal with all necessary procedures, ensuring that the pledge right can be registered as
soon as possible after the application submission, and deliver the original copy of the registration certificate (including without limitation the pledge registration notification) to the Pledgee; the relevant fees shall be borne by the Company.

  

	 	2.3	During the term of this Agreement, the Pledgee shall not be liable in whatsoever manner for any decrease in the value of the Pledged Equities and the Pledgors are not entitled to seek any form of recourse or make any
request, unless such decrease is caused by the Pledgors’ intention or gross negligence having direct causation to the result. 

  

	 	2.4	Subject to Section 2.3 above, if the Pledged Equities could experience material impairment which is capable to prejudice the rights of the Pledgee, the Pledgee may at any time auction or sell the Pledged Equities
on behalf of the Pledgors and may, as agreed with the Pledgors, apply the proceeds from such auction or sale towards accelerated repayment of the Secured Indebtedness, or deposit such proceeds with a notary public at the place where the Pledgee is
located (any costs thereby incurred shall be entirely borne by the Pledgee). 

  

	 	2.5	Upon occurrence of any Event of Default, the Pledgee shall be entitled to dispose of the Pledged Equities in such manner as prescribed in Article 4 of this Agreement. 

  
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	 	2.6	The Pledgors shall not increase the capital of the Company without prior consent of the Pledgee. The amount of capital added to the Company’s registered capital because of the Pledgors’ contribution shall be
deemed as the Pledged Equities. The Pledgors undertake to record the equity pledge for the increased amount of registered capital under this Clause 2.6 in the register of shareholders within ten (10) business days after the capital increase, to
apply with the competent industrial and commercial authority for the registration, and to deliver the original copy of the registration certificate (including without limitation to the pledge registration notification) to the Pledgee; the relevant
fees shall be borne by the Company. 

  

	 	2.7	During the term of pledge, the Pledgors are entitled to receive proceeds (including without limitation any dividend, profit and other income) generated by the Pledged Equities. The Pledgors shall not receive any
dividend or bonus in respect of the Pledged Equities without prior consent of the Pledgee. The Pledgors’ dividend or bonus obtained from the Pledged Equities shall be deposited in the bank account designated by the Pledgee, being administrated
by the Pledgee, and shall be used for the repayment for the Secured Indebtedness. 

  

	 	2.8	Upon occurrence of any Event of Default, the Pledgee shall be entitled to dispose of any Pledgor’s any pledged Equities in the manner as prescribed in this Agreement. 

 

	3	Release of Pledge 

  

	 	3.1	After full and complete performance of all the Contractual Obligations and full repayment of all the Secured Indebtedness by the Pledgors and the Company, the Pledgee shall, at the request of the Pledgors, release the
equity pledge under this Agreement and cooperate with the Pledgors to deregister the equity pledge recorded in the register of shareholders and to deregister the pledge with the competent industrial and commercial authority. Reasonable costs thereby
incurred shall be borne by the Pledgee. 

  

	4	Disposal of Pledged Equities 

  

	 	4.1	The Parties hereby agree that upon occurrence of any Event of Default, the Pledgee shall be entitled to exercise all rights and power to claim remedies available under the PRC Laws, the Transaction Agreements and this
Agreement with written notice to the Pledgors, including without limitation the right to auction or sell the Pledged Equities and to be indemnified in priority with the proceeds thereof. The Pledgee shall not be held liable for any losses from its
lawful and reasonable exercise of such rights and power. 

  
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	 	4.2	The Pledgee shall be entitled to appoint in writing its legal advisor or any other agent to exercise any and all of its foregoing rights and power, to which the Pledgors shall not raise any objection and shall provide
necessary assistance. 

  

	 	4.3	The Pledgee shall be entitled to deduct all reasonable costs actually incurred in connection with its exercise of any or all of its aforesaid rights and power from the proceeds obtained from such exercise of rights and
power. 

  

	 	4.4	The proceeds obtained from the exercise by the Pledgee of its rights and power shall be applied in the following order of precedence: 

 

	 	(i)	payment of all costs arising out of the disposal of the Pledged Equities and the exercise by the Pledgee of its rights and power (including fees paid to its legal advisor and agent); 

 

	 	(ii)	payment of the taxes payable in connection with the disposal of the Pledged Equities; and 

  

	 	(iii)	repayment of the Secured Indebtedness to the Pledgee; 

 Any balance after the deduction of the
aforesaid payments shall either be returned by the Pledgee to the Pledgors or any other person who is entitled to such balance under relevant laws and regulations, or be deposited with a notary public at the place where the Pledgee is located (any
costs thereby incurred shall be entirely borne by the Pledgee). 
  

	 	4.5	The Pledgee shall have the option to exercise concurrently or successively any of the remedies available to it; the Pledgee shall not be required to exhaust all other remedies available to it prior to auction or sale of
the Pledged Equities under this Agreement. 

  

	5	Fees and Expenses 

  

	 	5.1	All costs and expenses actually incurred in connection with the creation of the equity pledge under this Agreement, including without limitation the stamp duty, any other taxes and all legal fees, shall be borne by the
Company. 

  
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	6	Continuity and No Waiver 

  

	 	6.1	The Pledged Equities shall be continuous security and shall remain valid until full performance of the Contractual Obligations or full repayment of the Secured Indebtedness. No waiver or grace period granted by the
Pledgee to the Pledgors in respect of any breach or any delay by the Pledgee in exercising any of its rights under the Transaction Agreements and this Agreement shall affect the rights available to the Pledgee under this Agreement, applicable PRC
Laws and the Transaction Agreements to demand at any time thereafter strict performance by the Pledgors of the Transaction Agreements and this Agreement, or any of the rights available to the Pledgee arising from any subsequent breach by the
Pledgors of the Transaction Agreements and/or this Agreement. 

  

	7	Representations and Warranties of the Pledgors 

 Excluding the circumstances as disclosed
in Schedule A, each Pledgor hereby respectively and not jointly represent and warrant to the Pledgee that: 
  

	 	7.1	If the Pledgor is a natural person, he is a Chinese citizen with full civil capacity, and has legal rights and capacity to execute this Agreement and bears legal obligations under this Agreement. If the Pledgor is not a
natural person, it is a legal entity duely incorporated under PRC Laws with legal rights and capacity to execute this Agreement and bears legal obligations under this Agreement. 

 

	 	7.2	As of the effective date of this Agreement, the Pledgor is the only lawful owner of the Pledged Equities free from any existing dispute in relation to the ownership thereof. Other than the security interests created on
the Pledged Equities under this Agreement and the rights created under the Transaction Agreements, the Pledgor has the right to dispose of the Pledged Equities or any part thereof. 

 

	 	7.3	Other than the security interests created on the Pledged Equities under this Agreement and the rights created under the Transaction Agreements, the Pledged Equities are free from any other security interests or third
party rights and interests and any other restriction. 

  

	 	7.4	The Pledged Equities can be lawfully pledged and transferred, and the Pledgor has full rights and power to pledge the Pledged Equities to the Pledgee in accordance with the terms of this Agreement. 

 

	 	7.5	This agreement, once properly signed by the Pledgor, constitutes legal, valid and binding obligations to the Pledgor. 

  
 7 

	 	7.6	As necessary to the execution and performance of this Agreement and the equity pledge under this Agreement, any consent, permission, waiver or authorization by any third party or any approval, license or exemption by
any governmental body or registration or filing formalities (if required by law) with any governmental body have been obtained or handled (except for the required approval and registration (including without limitation the review and approval from
State Administration of Radio and Television and change registration with industrial and commercial authorities) with the governmental authority of the shares that Tang Liang inherits from Ding Jizhong and Shenzhen Lvying Venture Capital Co., Ltd.
respectively, the changed registered capital and share ownership structure under the SPA executed by and between Linzhi Lichuang Information Technology Co., Ltd. and the Company, the shares that Qiu Zhongwei inherits from Chen Xiaotao, and except
for that the pledge registration with the industrial and commercial authority will be processed as soon as possible in reasonably available time after the execution of this Agreement), and will remain in full force during the term of this Agreement.

  

	 	7.7	The execution and performance of this Agreement by the Pledgor do not violate or conflict with any law applicable to the Pledgor in effect, any agreement to which the Pledgor is a party or by which its assets are bound,
any court judgment, any arbitral award, or any decision of any administrative authority. 

  

	 	7.8	The pledge under this Agreement constitutes a first ranking security interest on the Pledged Equities held by the Pledgor. 

  

	 	7.9	All taxes and fees payable in connection with obtaining the Pledged Equities have been paid in full in accordance with the laws by the Pledgor. 

 

	 	7.10	There are no pending or, to the knowledge of the Pledgor, threatened suits, arbitrations, or other legal proceedings or claims before any court or arbitral tribunal, or administrative proceedings, or other legal
proceedings or claims before any governmental body or administrative authority against the Pledged Equities, the Pledgor or their properties , which will have a material or adverse effect on the economic conditions of the Pledgor or the
Pledgor’s ability to perform its obligations and security liability under this Agreement. 

  

	 	7.11	The Pledgor hereby warrants to the Pledgee that the representations and warranties made above will remain true and correct and will be fully complied with under all circumstances until full performance of the
Contractual Obligations or the full repayment of the Secured Indebtedness. 

  
 8 

	8	Representations and Warranties of the Company 

 The Company hereby represents and
warrants to the Pledgee that: 
  

	 	8.1	The Company is a limited liability company duly registered and lawfully existing under PRC Laws with independent legal personality, and has full and independent legal status and capacity to execute and deliver this
Agreement and may sue or be sued as an independent party. 

  

	 	8.2	All reports, documents and information provided by it to the Pledgee prior to or upon the effectiveness of this Agreement with respect to matters pertaining to the Pledged Equity or required by this Agreement are true
and correct in all material respects as of the effectiveness of this Agreement. 

  

	 	8.3	All reports, documents and information provided by it to the Pledgee after the effectiveness of this Agreement with respect to matters pertaining to the Pledged Equity or required by this Agreement are true and valid in
all material respects as of the effectiveness of this Agreement. 

  

	 	8.4	This agreement, once properly signed by the Company, constitutes legal, valid and binding obligations to the Company. 

  

	 	8.5	It has full internal corporate power and authority to execute and deliver this Agreement and all other documents to be executed by it in connection with the transactions contemplated hereunder as well as full power and
authority to consummate the transactions contemplated hereunder; 

  

	 	8.6	There are no pending or, to the knowledge of the Company, threatened suits, arbitrations, or other legal proceedings or claims before any court or arbitral tribunal, or administrative proceedings, or other legal
proceedings or claims before any governmental body or administrative authority against the Pledged Equities, the Company or its assets, which will have a material or adverse effect on the economic conditions of the Company or the Pledgor’s
ability to perform its obligations and security liability under this Agreement. 

  

	 	8.7	The Company hereby agrees to be jointly liable to the Pledgee for the representations and warranties made by each Pledgor under Article 7 hereunder. 

 

	 	8.8	The Company hereby warrants to the Pledgee that the foregoing representations and warranties will remain true and correct and fully complied with under all circumstances at any time prior to full performance of the
Contractual Obligations or full repayment of the Secured Indebtedness. 

  
 9 

	9	Undertakings by the Pledgors 

 The Pledgors each respectively and not jointly undertake
to the Pledgee that: 
  

	 	9.1	Without prior written consent of the Pledgee, the Pledgors will not create or permit to be created any new pledge or any other security interest on the Pledged Equity and any pledge or other security interest created on
all or any part of the Pledged Equity without prior written consent of the Pledgee shall be null and void. 

  

	 	9.2	Without prior written notice to and prior written consent from the Pledgee, the Pledgors will not assign the Pledged Equity and all purported assignment of the Pledged Equity by the Pledgors shall be null and void. The
proceeds received by the Pledgors from the assignment of the Pledged Equity shall be first applied towards full repayment to the Pledgee of the Secured Indebtedness or shall be deposited with a third party as agreed with the Pledgee.

  

	 	9.3	Should there arise any suit, arbitration or other claims which are likely to have an adverse effect on the Pledgors’ or the Pledgee’s interest under the Transaction Agreements and this Agreement or on the
Pledged Equity, the Pledgors undertake that they will notify the Pledgee in writing of the same as promptly as possible without delay and will, in accordance with the reasonable request of the Pledgee, take all necessary measures to ensure the
Pledgee’s rights and interests of pledge in and to the Pledged Equity. 

  

	 	9.4	The Pledgors undertake to complete the registration procedure to extend the Company’s business period in three (3) months before the expiry of the Company’s business period, in order to maintain the
validity of this Agreement. 

  

	 	9.5	The Pledgors will not do or permit to be done any act or action likely to have an adverse effect on the interest of the Pledgee under the Transaction Agreements and this Agreement or on the Pledged Equity. The Pledgors
waive their preferential right of purchase if and when the Pledgee realizes its rights of pledge. 

  

	 	9.6	The Pledgors will, in accordance with the reasonable request of the Pledgee, take all steps and execute all documents (including without limitation any supplement hereto) necessary to ensure the Pledgee’s rights
and interests of pledge in and to the Pledged Equity as well as the exercise and realization by the Pledgee of such rights and interests. 

  

	 	9.7	Should the exercise of the rights of pledge hereunder result in an assignment of any Pledged Equity, the Pledgors undertake that they will take all measures to enable the realization of such assignment.

  
 10 

	10	Undertakings by the Company 

  

	 	10.1	The Company will use every effort to assist with the obtaining of any consents, permissions, waivers, authorizations of any third party or any approval, license or exemption from any governmental body or the completion
of any registration or filing formalities with any governmental body (if required by law), requisite in each case for the execution and performance of this Agreement and the creation of the Equity Pledge hereunder, and will maintain the same in full
force and effect during the term hereof. 

  

	 	10.2	Without prior written consent of the Pledgee, the Company will not assist or permit the Pledgors to create any new pledge or any other security interest on the Pledged Equity. 

 

	 	10.3	Without prior written consent of the Pledgee, the Company will not assist or permit the Pledgors to assign the Pledged Equity. 

  

	 	10.4	Should there arise any suit, arbitration or other claims which are likely to have an adverse effect on the Company, the Pledged Equities or the Pledgee’s interest under the Transaction Agreements and this
Agreement, the Company undertakes that it will notify the Pledge in writing of the same as promptly as possible without delay and will, in accordance with the reasonable request of the Pledgee, take all necessary measures to ensure the
Pledgee’s pledge rights and interests in and to the Pledged Equity. 

  

	 	10.5	The Company undertakes to complete the registration procedure to extend its business period in three (3) months before the expiry of its business period, in order to maintain the validity of this Agreement.

  

	 	10.6	The Company will not do or permit to be done any act or action likely to have an adverse effect on the interest of the Pledgee under the Transaction Agreements and this Agreement or on the Pledged Equity.

  

	 	10.7	The Pledgors will during the first month of each calendar quarter submit to the Pledgee the financial statements of the Company for the preceding calendar quarter, including without limitation the balance sheet, the
income statement and the cash flow statement. 

  

	 	10.8	The Company will, in accordance with the reasonable request of the Pledgee, take all steps and execute all documents (including without limitation any supplement hereto) necessary to ensure the Pledgee’s rights and
interests of pledge in and to the Pledged Equity as well as the exercise and realization by the Pledgee of such rights and interests. 

  
 11 

	 	10.9	Should the exercise of the rights of pledge hereunder result in an assignment of any Pledged Equity, the Company undertakes that it will take all measures to enable the realization of such assignment. 

 

	11	Fundamental Changes of Circumstances 

  

	 	11.1	As a supplementary agreement and without contravening other provisions of the Transaction Agreements and this Agreement, if, at any time, in the opinion of the Pledgee, as a result of any promulgation of or amendment to
any PRC Laws, regulations or rules, or of any change in the interpretation or application of such laws, regulations or rules, or of any change in relevant registration procedures, the maintaining of the validity of this Agreement and/or the disposal
of the Pledged Equity in the manner prescribed hereunder becomes illegal or contravenes such laws, regulations or rules, the Pledgors and the Company shall, on the Pledgee’s written instruction and in accordance with its reasonable request,
immediately take any actions and/or execute any agreements or other documents so as to: 

  

	 	(i)	maintain the validity of this Agreement; 

  

	 	(ii)	facilitate the disposal of the Pledged Equity in the manner prescribed hereunder; and/or 

  

	 	(iii)	maintain or realize the security created or purported to be created hereunder. 

  

	12	Effectiveness and Term of Agreement 

  

	 	12.1	This Agreement is valid once signed properly by all Parties. This Agreement is the final version agreement which the Parties have reached upon in respect of the equity pledge and relevant issues; this Agreement shall
fully replace any and all of previous consultation, negotiation or discussion which all Parties have reached upon, and any and all of letters of intent, memorandums, agreements or other documents (including without limitation the Equity Interest
Pledge Agreement executed by and among the Company, the Pledgee and some Pledgors on July 12, 2016) which all Parties have reached upon and agreed. If there is any conflict, contravention or inconsistence in such consultation, negotiation,
discussion results, such letters of intent, memorandum, agreements or other documents against this Agreement, this Agreement shall prevail. All Parties shall, bearing the principle of good faith, make all efforts to assist in having such equity
pledge registered in the competent industrial and commercial authority in a short period. For this purpose, the Company shall apply for the registration with the competent industrial and commercial authority in reasonable time. 

  
 12 

 The Pledgors shall deliver to the Pledgee for custody the capital contribution certificate for
the Equity Interest and the shareholders’ register containing the Pledge on the effective date of this Agreement. Upon the effectiveness of this Agreement, the Pledgors shall, at the Pledgee’s request, provide the pledge registration
certificate issued by the competent industrial and commercial authority to the Pledgee in a form satisfactory to the Pledgee. The Pledgee will keep these documents in its custody during the whole pledge period prescribed in this Agreement. 

 

	 	12.2	The term of this Agreement shall end when the Contractual Obligations is performed in full or when the Secured Indebtedness is repaid in full. 

 

	 	12.3	To avoid ambiguity, each Pledgor is not jointly liable to any obligation or liability of other Pledgor or the Company. 

  

	13	Notice 

  

	 	13.1	Any notice, request, demand and other correspondences required by or made pursuant to this Agreement shall be made in writing and delivered to the relevant Party. 

 

	 	13.2	Aforesaid notice or other correspondences shall be deemed delivered when it is transmitted if transmitted by fax or telex; or upon delivery, if delivered in person; or five (5) days after posting, if delivered by
mail; or upon the signature of the recipient, if delivered by courier service. But if the notice is returned due to the recipient’s fault or the recipient’s refusal to sign, the notice is deemed delivered on the date when the notice is
returned. 

  

	14	Miscellaneous 

  

	 	14.1	The Pledgors and the Company agree that the Pledgee may, immediately upon notice to the Pledgors and the Company, assign its rights and/or obligations hereunder to any third party; and that without prior written consent
of the Pledgee, neither the Pledgors nor the Company may assign their respective rights, obligations or liabilities hereunder to any third party. The successors or permitted assignees (if any) of the Pledgors and the Company shall be obligated to
continue to perform the Pledgors’ and the Company’s respective obligations hereunder. 

  
 13 

	 	14.2	The sum of the Secured Indebtedness determined by the Pledgee in its discretion in connection with its exercise of its rights of pledge with respect to the Pledged Equity in accordance with the terms hereof shall
constitute the conclusive evidence for the Secured Indebtedness hereunder. 

  

	 	14.3	This Agreement is made in Chinese in sixteen (16) originals, with each Party holding one (1) copy. With the special consensus of all Parties, the digital version of the executed copy of this Agreement saved as
the form of PDF, as exchanged among all Parties, is deemed an original copy. 

  

	 	14.4	The entry into, effectiveness, performance, modification, interpretation and termination of this Agreement shall be governed by PRC Laws. 

 

	 	14.5	Dispute Resolution 

  

	 	(1)	Any dispute, argument or claim (hereinafter the “disputes”) arising out of or in connection with of this Agreement or breach, termination or invalidity of this Agreement shall be settled by both Parties
of the disputes through consultations. The Party raising the claim shall promptly inform the other Party that disputes have arisen and illustrate the nature of the dispute via a notice with date. In the absence of an agreement being reached by the
Parties within thirty (30) days after the dispute notice, the dispute may be brought by any Party the dispute before the China International Economic and Trade Arbitration Commission (hereinafter “CIETAC”) to be arbitrated in
Beijing pursuant to CIETAC’s effective arbitration rules upon the submission of the dispute and this Clause 14.5. The arbitration award shall be final and binding on the Parties to the dispute. 

 

	 	(2)	The arbitral tribunal shall consist of three (3) arbitrators. Each Party to the dispute has the right to respectively appoint one (1) arbitrator, and the third (3rd) arbitrator shall be jointly appointed
by both Parties to the dispute. If the Parties to the dispute cannot reach agreement on the appointment of the third (3rd) arbitrator, such arbitrator shall be appointed by the director of the Arbitration Commission. The third arbitrator shall
be the chief arbitrator of the arbitral tribunal. 

  

	 	(3)	When making an arbitral award, the arbitrator shall take into account the intention of hereto determined by this agreement the Parties. 

 

	 	(4)	The arbitral award made by the arbitral tribunal pursuant to this Clause 14.5 shall be made in writing and shall be final and binding upon both Parties to the dispute. Both Parties to the dispute should do their best to
enable any of such arbitral awards to be implemented in time and provide any necessary assistance to the implementation. 

  
 14 

	 	(5)	The aforesaid provisions of this Clause 14.5 shall not prevent the concerned Parties from applying for any prior protection or injunction for any reason, including without limitation the subsequent enforcement of the
arbitral award. 

  

	 	14.6	No right, power or remedy empowered to any Party by any provision of this Agreement shall preclude any other right, power or remedy enjoyed by such Party in accordance with law or any other provisions hereof and no
exercise by a Party of any of its rights, powers and remedies shall preclude its exercise of its other rights, powers and remedies. 

  

	 	14.7	No failure or delay by a Party in exercising any right, power or remedy under this Agreement or laws (hereinafter the “Party’s Rights”) shall result in a waiver of such right, and no single or
partial waiver by a Party of the Party’s Rights shall preclude such Party from exercising such rights in any other way or exercising the remaining part of the Party’s Rights. The Parties shall, via negotiation in good faith, endeavor to
replace those invalid, illegal or unenforceable provisions with provisions that permitted by laws and effective to the most extent that the Parties expect, while such effective provisions and those invalid, illegal or unenforceable provisions shall
be alike as much as possible in the economic effects. 

  

	 	14.8	The section headings herein are inserted for convenience of reference only and shall in no event be used in or affect the interpretation of the provisions hereof. 

 

	 	14.9	Each provision contained herein shall be severable and independent of any other provisions hereof, and if at any time any one or more provisions hereof become invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions hereof shall not be affected thereby. 

  

	 	14.10	Any amendments or supplements to this Agreement shall be made in writing and except where the Pledgee assigns its rights hereunder in accordance with Clause 14.1, such amendments or supplements shall take effect only
when properly signed by the Parties hereto. 

  

	 	14.11	This Agreement shall be binding upon the legal successors of the Parties. 

  
 15 

	 	14.12	Concurrently with the execution of this Agreement, the Pledgors shall each execute a power of attorney (hereinafter the “POA”), entrusting the nominee or any person designated by the Pledgee to execute
on its behalf in accordance with this Agreement any and all of legal documents as may be required in order for the Pledgee to exercise its rights hereunder. Such POA shall be submitted to the Pledgee for custody and may be presented by the Pledgee
to relevant governmental authorities whenever necessary. 

 [The remainder of this page is intentionally left blank]

  
 16 

 Schedule A 

Basic information of the Company 
  

			
	Company Name:	  	Guangzhou Kugou Computer Technology Co., Ltd.
		
	Registered Address:	  	Room 1301, Building 2, No. 16 Keyun Road, Tianhe District, Guangzhou
		
	Registered Capital:	  	RMB 68,000,892 Yuan
		
	Legal Representative:	  	Xie Zhenyu
		
	Shareholding Structure:	  	

  

													
	 #
	  	 Shareholder’s Name
	  	Identification No./
Registration No.	  	Registered
Capital	 	  	Shareholding
Percentage	 
	1	  	Xie Zhenyu	  	[            ]	  	 	4,480,350	 	  	 	6.59	% 
	2	  	Hu Huan	  	[            ]	  	 	800,000	 	  	 	1.18	% 
	3	  	Xu Hanjie	  	[            ]	  	 	375,000	 	  	 	0.55	% 
	4	  	 Hangzhou Yong Xuan Yong Ming Capital Investment Partnership (Limited Partnership)
	  	913301005832240649	  	 	500,000	 	  	 	0.74	% 
	5	  	Kashi Tianshan Red Sea Venture Capital Co., Ltd.	  	91653100MA7755T28L	  	 	2,000,000	 	  	 	2.94	% 
	6	  	Shenzhen Litong Industry Investment Fund Co., Ltd.	  	91440300075839388T	  	 	4,603,261	 	  	 	6.77	% 
	7	  	Dong Jianming	  	[            ]	  	 	1,004,950	 	  	 	1.48	% 
	8	  	Gao Yaping	  	[            ]	  	 	750,000	 	  	 	1.10	% 
	9	  	Guangzhou Lekong Investment Partnership (Limited Partnership)	  	91440101591540905J	  	 	735,880	 	  	 	1.08	% 
	10	  	Xie Guomin	  	[            ]	  	 	6,792,571	 	  	 	9.99	% 
	11	  	Qiu Zhongwei	  	[            ]	  	 	6,792,571	 	  	 	9.99	% 
	12	  	Tang Liang	  	[            ]	  	 	1,853,820	 	  	 	2.73	% 
	13	  	Linzhi Lichuang Information Technology Co., Ltd.	  	91540400MA6T10ME4F	  	 	37,312,489	 	  	 	54.87	% 
		  		  	  
	  	  
	  
	 	  	  
	  
	 
	 Total
	  	/	  	 	68,000,892	 	  	 	100.00	% 
		  		  	  
	  	  
	  
	 	  	  
	  
	 

 IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date on the venue first above
written. 
  

	
	Xie Zhenyu
	Signature: /s/ Xie Zhenyu
	
	Hu Huan
	Signature: /s/ Hu Huan
	
	Xu Hanjie
	Signature: /s/ Xu Hanjie
	
	Hangzhou Yong Xuan Yong Ming Capital Investment Partnership (Limited Partnership)
	/s/ Seal of Hangzhou Yong Xuan Yong Ming Capital Investment Partnership (Limited Partnership)
	
	Kashi Tianshan Red Sea Venture Capital Co., Ltd.
	/s/ Seal of Kashi Tianshan Red Sea Venture Capital Co., Ltd.
	
	Shenzhen Litong Industry Investment Fund Co., Ltd.
	/s/ Seal of Shenzhen Litong Industry Investment Fund Co., Ltd.
	
	Dong Jianming
	Signature: /s/ Dong Jianming 
	
	Gao Yaping
	 Signature: /s/ Gao Yaping 

	
	Xie Guomin
	 Signature: /s/ Xie Guomin

	
	Qiu Zhongwei
	 Signature: /s/ Qiu Zhongwei 

	
	Tang Liang
	Signature: /s/ Tang Liang
	
	Linzhi Lichuang Information Technology Co., Ltd.
	/s/ Seal of Linzhi Lichuang Information Technology Co., Ltd.
	
	Tencent Music (Beijing) Co., Ltd.
	/s/ Seal of Tencent Music (Beijing) Co., Ltd.
	
	Guangzhou Kugou Computer Technology Co., Ltd.
	/s/ Seal of Guangzhou Kugou Computer Technology Co., Ltd.

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