Document:

Exhibit 10.15

 

English translation for convenience
purposes only

  

CHANG’AN INTERNATIONAL TRUST CO.,
LTD

 

Chang’an Trust—No. 2 Loan Assembled
Fund Trust Plan of Kingold Jewelry

 

Trust Loan Contract

 

March 2016

 

     

     

    

 

Chang’an Trust—No. 2 Loan Assembled
Fund Trust Plan of Kingold Jewelry

 

Trust Loan Contract

 

Trust Loan Contract
of Chang’an Trust—No. 2 Loan Assembled Fund Trust Plan of Kingold Jewelry (hereinafter referred to as “the Contract”)
is signed in [Xi’an] on [November 29, 2013] by:

 

Borrower: Wuhan Kingold Jewelry Co.,
Ltd. (hereinafter referred to as “Kingold Jewelry” or “Borrower”)

 

Legal representative: Jia Zhihong

 

Residence: Te 15, Huangpu Science &
Technology Garden, Jiangan District

 

Lender: Chang’an International
Trust Co., Ltd (hereinafter referred to as “Chang’an Trust” or “The Lender”) 

 

Legal representative: Gao Chengcheng

 

Residence: 23/F, 24/F, High-Tech International
Business Center, No. 33, Keji Road, Gaoxin District, Xi’an City

 

The Borrower and the Lender are hereinafter
called as “party” personally and “both parties” jointly.

 

Whereas:

 

1. Owing to demand for
supplementing working capital, the Borrower applies for trust loan to The Lender.

 

2. The Lender agrees
to issue trust loan to the Borrower with the trust capital under the Chang’an Trust—No. 2 Loan Assembled Fund Trust
Plan of Kingold Jewelry. 

 

The contract is made
in line with the Contract Law and other relevant laws and regulations to specify the rights and obligations of both parties after
reaching consensus through consultation.

 

Definitions and
Interpretation

 

1. In the Contract,
save where the context or text otherwise requires, the following words and expressions shall have the following meanings:

 

The Borrower:
refer to Wuhan Kingold Jewelry Co., Ltd. and its legal inheritor.

 

The Lender:
refer to Chang’an Trust and its legal inheritor.

 

Trust Loan:
refer to the loan issued to the Borrower with the trust capital under the Chang’an Trust—No. 2 Loan Assembled Fund
Trust Plan of Kingold Jewelry, including various loans issued one time or many times. Save it otherwise
requires, “loan” in the Contract has the same meaning with trust loan.

 

Repayment:
refer to the loan capital payment prescribed in the Contract.

 

Date of Repayment:
refer to the date of loan principal payment under the Contract.

 

     

     

    

 

Retention Agreement:
refer to “the retention agreement of capital trust for Chang’an Trust—No. 2 Loan Assembled Fund Trust Plan of
Kingold Jewelry.”, with the number: Trust Assembled Kingold Loan (2) 15240818, signed by the Lender, the Borrower, and with
China CITIC Bank, and any valid modification and supplementation.

 

Warrantor:
refers to Jia Zhihong and his spouse and the legal inheritor of aforementioned warrantor.

 

Guarantor:
refers to the joint name of pleador and warrantor.

  

Contract of Pledge:
refers to the Contract of Gold Pledge of Chang’an Trust—No. 2 Loan Assembled Fund Trust Plan of Kingold Jewelry, with
the number: Trust Assembled Kingold Pledge (2) 15240818, signed by The Lender and Pledgor, and
any valid modification and supplementation.

 

Contract of Guaranty:
refers to “the Contract of Guaranty of Chang’an Trust— No. 2 Loan Assembled Fund Trust Plan of Kingold Jewelry,
with the number: Trust Assembled Kingold Guaranty (2) 15240818, signed by The Lender and Pledgor, and any valid modification and
supplementation.

 

Safe Lease:
refers to the safe lease signed by the Lender and Wuhan Yanjiang Avenue branch of Industrial and Commercial Bank of China Ltd.

 

Transaction document:
refers to the general term of the Contract, Financial Regulatory Agreement, and Regulatory Agreement of Pledge of Movables, Contract
of Pledge and Contract of Guaranty and legal documents which prescribe the obligation or responsibility of the Borrower for performing
the agreement.

 

Trust Contract:
refers to the Trust Contract of Chang’an Trust—No. 2 Loan Assembled Fund Trust Plan of Kingold Jewelry signed by bailee
and bailor under the trust scheme, and any valid modification and supplementation.

 

Specification of
Trust Plan: refers to Specification of Trust Plan of Chang’an Trust—No. 2 Loan Assembled Fund Trust Plan of Kingold
Jewelry and any valid modification and supplementation.

 

Letter of Statement
of Subscription Risk: refer to Letter of Statement of Subscription Risk of Trust Plan of Chang’an Trust—No. 2 Loan
Assembled Fund Trust Plan of Kingold Jewelry and any valid modification and supplementation.

 

Trust Document:
refers to the general terms of Trust Contract, Specification of Trust Plan and Letter of Statement of Subscription Risk.

 

Trust Plan/Trust:
refers to Chang’an Trust—No. 2 Loan Assembled Fund Trust Plan of Kingold Jewelry

 

Date of Loan:
refers to the date of establishment of the trust plan or the starting date of each allocation specified on the certificate of indebtedness
of loan when making allocation for several times.

 

Expiration Date:
refers to the date since the date of each loan with 24 months at the expiration, and the date for the confirmation of notification
that the Lender announces the advanced expiration of loan.

 

Prepayment:
the Borrower prepays all or part of loan capitals before the repayment date prescribed in the Contract.

 

Date of prepayment:
refers to the date when the Borrower prepays all or part of loan capitals before the repayment date prescribed in the Contract.

 

Expiration:
means that the expiring date prescribed in the Contract is due or the Lender pronounces that the loan is due in advance.

 

RMB Loan Account:
refers to the bank account appointed by the Borrower, used for accepting the loan issued by The Lender.

 

     

     

    

 

Workday: refers
to any day except national holiday and public holiday.

 

CBRC: refers
to China Banking Regulatory Commission and its agencies.

 

Year: refers
to every calendar year.

 

Quarter: refers
to the natural quarter of calendar year, namely 1-3 as the first quarter, 4-6 as the second quarter, and 7-9 as the third quarter
and 10-12 as the fourth quarter.

 

Month: refers
to every calendar month.

 

RMB: lawful
money of the People’s Republic of China.

 

Yuan: refers
to monetary unit of RMB.

 

2. Words or abbreviation
not defined in the Contract have the same definitions with relevant words or abbreviation in Trust Contract or other trust documents.

 

3. Titles of terms and
attachment in the Contract are set solely used for the convenience of reference and are not deemed to be as the interpretation
of the term or attachment.

   

Article 1 Loan
Type 

 

The loan under the Contract
is loan of working capital.

 

Article 2 Currency
of Loan 

 

The currency of loan
under the Contract is RMB.

 

Article 3 Purpose
of Loan 

 

The Borrower shall use
the loan to supplement working capital. The Borrower is not allowed to change the purpose of loan without the written permission
of The Lender, including but not limited to, that the Borrower is not allowed to use the loan for investment of stock, futures,
financial derivative instrument, etc. or projects prohibited by any law, regulation, regulatory provision and national policy or
projects without approval granted and prohibit the project and purpose of loan investment.

 

Article 4 Amount
of Loan 

 

The amount of loan under
the Contract is Three Hundred Million Yuan (Capital), RMB 300, 000, 000.00 Yuan (small). The specific amount of loan shall follow
the amount specified on “the certificate of indebtedness of loan”. In case trust plan is issued or the allocation is
made partially, the amount of loan under the Contract shall follow the total amount of loan specified on “the certificate
of indebtedness of loan”.

 

Article 5 Life
of Loan 

 

5.1 The life of loan
under the Contract is 24 months, calculated since the date of loan.

 

     

     

    

 

5.2 Based on conditions
prescribed in the Contract, in case that the Borrower pronounces that the loan is due in advance, the date of confirmation of notification
which pronounces that the loan is due in advance is the expiring date of life of loan.

 

5.3 Where there any
inconsistency between the starting dates of life of loan under the Contract with “the certificate of indebtedness of loan”,
the latter shall prevail.

 

Article 6 Interest
Rate and Interest of Loan

 

6.1 The annual interest
rate of loan under the Contract is 13%.

 

6.2 The loan interest
is calculated since the date of loan.

 

6.3 The interest on
loan under the Contract is paid for two parts.

 

(1) The first part of
interest on loan is paid to the Lender within 5 workdays since the date of loan. The amount of the first part of loan interest
= loan amount *1.1%*365/360.

 

If the loan expires
in advance, the first part of interest loan received by the Lender will not be returned.

 

(2) The second part
of interest on loan is paid to the Lender within 5 workdays since 12 months after the expiring date of each loan and current loan.
The amount of the second part of loan interest = loan amount *1.1%*365/360.

 

If the loan expires
in advance, the second part of interest loan received by the Lender will not be returned.

 

(3) The third part of
interest on loan is calculated by day and settled by quarter, since the date of loan. The amount of the third part of loan interest
= loan amount *11.9%*actual days/360. “Actual days” mean the days between the date of loan (including this day) and
the expiration date of this loan (not including this day).

 

Since the date of loan,
the 20th of the last month of every natural quarter is the day of interest settlement. The Borrower shall pay The Lender
the interest on loan payable in current quarter within 1 workday after the day of interest settlement. Interest of current quarter:
the amount of the second part of loan interest = loan amount *11.9%*actual days of current quarter/360.

 

“Actual days of
current quarter” mean the days between the last date of loan (including this day) and the next date of loan (not including
this day). The first “actual days of current quarter” mean the days between the date of loan (including this day) and
the first interest settlement day (not including this day). The last “actual days of current quarter” mean the days
between the interest settlement day before the loan expiry day (including this day) and the loan expiry day (not including this
day).

 

The last interest settlement
day is the expiring date of loan. In case the Borrower repays part or all capitals of loan in advance, date of prepayment is the
last interest settlement day. The rest interest should be paid on the last interest settlement day and the interest is cleared
with the principal.

 

6.4 During the life
of loan, in case People’s Bank of China adjusts the benchmark interest rate of loan for the corresponding period, it shall
execute by [1] as follows.

 

(1) Continue to execute
interest rate prescribed in the Contract.

 

(2) Adjust the scope
based on the benchmark interest rate of loan of People’s Bank of China for the corresponding period and adjust the interest
rate prescribed in the Contract with the same scope.

 

(3) In case People’s
Bank of China improves the benchmark interest rate of loan for the corresponding period, improve the interest rate prescribed in
the Contract with the same scope. In case People’s Bank of China lowers the benchmark interest rate of loan for the corresponding
period, the interest rate prescribed in the Contract remains unchanged.

 

     

     

    

 

6.5 In case the loan
under the Contract is issued partially, the interest of each loan shall be charged in the abovementioned manner.

  

Article 7 Issue
of Loan 

 

7.1 Unless The Lender
gives up all or part of conditions, only after satisfying the following prerequisites for issuing a loan, The Lender is in duty
bound to issue a loan to the Borrower.

 

(1) The Contract has
been signed.

 

(2) The Borrower has
submitted the completed “Certificate of Indebtedness of Loan” according to the requirement of The Lender.

 

(3) Trust plan has been
established.

 

(4) Contract of Guaranty
has been signed.

 

(5) Contract of Pledge
has been signed and the gold pledge procedure has been taken.

 

(6) Notarial acts for
compulsory execution of the Contract and the abovementioned contracts have been transacted.

 

(7) Safe Lease has been
signed and taken effect.

 

(8) Retention Agreement
has been signed and taken effect.

 

(9) Property insurance
for the pledge has been obtained.

 

7.2 Arrangement for
Issue of Loan

 

After satisfying the
conditions for issuing a loan prescribed in the Contract, The Lender should transfer the capital of loan into the following RMB
loan account opened by the Borrower:

 

Account name: Wuhan
Kingold Jewelry Co., Ltd

 

Account number: 738131018260003815

 

Opening Bank: Wangjiadun
Branch of Wuhan CITIC Bank

 

7.3 Once the loan under
the Contract is transferred from the account of The Lender, it is deemed to that The Lender has fulfilled the obligation of issuing
the loan.

  

Article 8 Repayment
of Principal with Interest

 

8.1 Payment of Interest

 

The Borrower shall pay
the interest according to the agreement of Article 6 in the Contract.

 

8.2 As for repayment
of principal, the Borrower shall repay principal and interest on the loan expiration day together.

 

     

     

    

 

8.3 The Borrower shall
transfer the payment payable to the following account appointed by The Lender on the interest payment date and repayment date:

 

Account name: Chang’an
International Trust Co., Ltd

 

Account number: 8111501412000147566

 

Opening bank: Wuhan
CITIC Bank

 

8.4 The Lender is entitled
to firstly use the payment of the Borrower to pay off all expenses which should be undertaken by the Borrower but are paid by The
Lender for the Borrower prescribed in the Contract and expenses for The Lender achieving creditor’s right. The payment of
the Borrower is insufficient to pay off the payable amount of The Lender (including but not limited to loan principal, interest,
liquidated damages, compensation for damage, expense for achieving the creditor’s right and other expenses payable) under
the Contract. The Lender is entitled to decide which payment is preferentially applied to the sequence of refunding principal,
interest and other expenses.

 

8.5 Without written
consent of the Lender, the Borrower should not repay in advance.

 

8.6 According to conditions
agreed in the Contract, in case The Lender pronounces that the loan is due in advance, the Borrower shall repay all payable but
unpaid principal, interest and expenses on the date when the notification about acceleration of maturity
is established.

 

Article 9 Measures of
Guarantee and Credit Promotion

 

9.1 All debts under
the Contract, including but not limited to all principals, interest (including compound interest and default interest), liquidated
damages, compensation and other payment that the Borrower shall pay to The Lender are guaranteed by guarantor in the following
manners.

 

(1) In accordance with
Contract of Pledge of Trust Assembled Kingold Pledge (2) 15240818, Pledgor provides pledge guarantee
with the pledge it legally owns.

 

(2) In accordance with
Contract of Guaranty of Trust Assembled Kingold Guaranty (2) 15240818, Guarantor provides guarantee warranty with joint liability.

 

Article 10 Rights and
Obligations of Borrower

 

10.1 Rights of Borrower

 

(1) Entitled to require
The Lender to issue loan according to stipulations of the Contract;

 

(2) Entitled to use
the loan for the purpose agreed in the Contract;

 

(3) Entitled to require
The Lender to keep the relevant financial information and commercial secrets about production and management in confidentiality,
save where laws and regulations otherwise require.

 

10.2 Obligations of
Borrower

 

(1) During the term
of loan, it must provide balance sheet, profit and loss statement, cash flow statement and other required relevant data to The
Lender, within 15 days in the end of each financial year and take responsibility of the authenticity, completeness and validity
of the foregoing provided documents and data.

 

(2) Use the loan for
the purpose agreed in the Contract and cannot forcibly occupy and misappropriate it.

 

     

     

    

 

(3) Actively cooperate
and consciously accept the investigation and supervision of The Lender on its production and management, financial activity and
loan utilization under the Contract.

 

(4) Pay off principal
and interest of loan on schedule in accordance with stipulations of the Contract.

 

(5) The Borrower and
its investor are not allowed to secretly withdraw funds or transfer assets or evade debts to The Lender by connected transaction.

 

(6) In case the Borrower
makes new investment and financing, or provides warranty for others’ debt before paying off principal and interest of loan,
the Borrower shall notice the Lender in written form and secure the written consent of the Lender.

 

(7) During the period
of validity of the Contract, in case that the Borrower and Guarantor alter name, address and legal representative, they should
notice the Lender in writing within seven working days days since the date of alteration. Otherwise, relevant documents sent by
the Lender based on the original name, address and legal representative are deemed as delivered.

 

(8) In case the Guarantor
under the Contract suffers production halts, discontinuation of business, cancellation of registration, cancellation of business
license, bankruptcy, revocation and operating losses and partly or all loses the guarantee ability corresponding to the loan or
the value of mortgage and pledge as the guarantee of loan under the Contract reduces, damaged or lost or the guarantee is not established
validly, or the Guarantor is unauthorized to cancel the registration of pledge and transfer the pledge and takes other acts of
disposition which impact the performance of right of pledge, the Borrower shall promptly provide the Lender other recognized guarantee.
In case the Borrower fails to keep the commitment according to requirement of the Lender, the Lender is entitled to proclaim that
the loan is due in advance and the Borrower shall prepay all principal and interest of the loan based on requirements of the Lender
and provide indemnity to the Lender for the caused loss.

 

(9) During the duration
of contract, in case the Borrower or its related party, dominant stockholder and guarantor has consolidation, separation, alternation
of stock rights, increase and decrease of capital, joint stock, consortium, production halts, discontinuation of business, cancellation
of registration, cancellation of business license, revocation and forced application for bankruptcy, foreclosure and litigation,
arbitration, great dispute, serious difficulty in production and management, deterioration of financial condition, involvement
in illegal fund-raising, and the legal representative or person chiefly in charge and actual controller takes illegal actions,
the change of marital status, administrative penalty or criminal punishment, unfavorable change of financial condition, litigation,
arbitration and great dispute and the Lender considers what may bring adverse influence on the obligation of the Borrower of repayment
under the Contract, the Lender is entitled to request the Borrower to implement the settlement of debt, guarantee or other remedial
measures under the Contract and the Borrower shall prepay all principal and interest of the loan based on requirements of the Lender
and provide indemnity to the Lender for the caused loss. In case of the said circumstances, the Borrower shall notice the Lender
in writing within two days since the date of occurrence. Otherwise, the Lender is entitled to ask the Borrower to hold responsible
for breach of contract.

 

(10) The Borrower shall
bear expenses of evaluation, registration, notarization and lawyer service related to guarantee under the Contract.

 

Article 11 Rights
and Obligations of the Lender 

 

11. 1 Rights of the
Lender

 

(1) The Lender is entitled
to request the Borrower to repay the principal, interest and expenses of the loan on schedule, exercise other rights agreed in
the Contract and perform other obligations under the Contract.

 

(2) Collect loan principal,
interest, overdue interest, default interest, compound interest, liquidated damages and other payable expenses in accordance with
law or provisions of the Contract.

 

     

     

    

 

(3) The Lender is entitled
to understand the production and management, financial activity, construction of project for the loan and its operation of the
Borrower and request the Borrower to provide relevant information.

 

(4) The Lender is entitled
to investigate and supervise the usage of loan.

 

11.2 Obligations of
the Lender

 

(1) Issue the loan on
schedule based on the Contract, save the delay due to reason of the Borrower or other reasons not concerned about the Lender.

 

(2) Keep the financial
information provided by the Borrower and the commercial secret about production and management in confidentiality, save the laws
and regulations otherwise requires.

 

Article 12 Management
after Loan 

 

12.1 Within period of
loan, the Borrower has the obligation to coordinate with the Lender to make investigation on the usage of loan capital under the
Contract, including but not limited to that the Borrower shall provide the Lender relevant contract, agreement, payment document
and certificate of ownership.

 

12.2 The Lender is entitled
to investigate the performance, credit standing and business condition of the Borrower. The Borrower has the obligation to submit
relevant data based on requirements of the Lender.

 

Article 13 Items
of Notarization 

 

13.1 The Lender and
the Borrower shall transact notarization of document of obligation which endows the Contract with compulsory execution effect after
signature. The Borrower shall bear the expense arising from notarization.

 

13.2 The Lender and
the Borrower hereby confirm that the debtor-creditor relationship in the Contract is definite, without doubts on all agreed rights
and obligations for both parties. In case the Borrower fails to fulfill or inappropriately fulfills any obligation agreed in the
Contract, the Borrower is willing to receive compulsory execution, without any judicial proceeding. The Lender can directly apply
for compulsory execution to people’s court with right of jurisdiction in line with provisions of Civil Procedure. Meanwhile,
the Borrowers waives right of defense.

 

13.3 The agreement on
notarization of compulsory execution in the Article is prior to execution of Article, “dispute resolution” in the Contract.

 

Article 14 Statement
and Guarantee 

 

14.1 Statement and guarantee
of the Borrower are as follows:

 

(1) The Borrower is
a legally registered and validly existing business entity and is entitled to dispose property under its management, operate the
business related to purpose of loan under the Contract and sign and fulfill the Contract.

 

(2) The signing of the
Borrower on the Contract has achieved the approval or authorization of board of shareholders of Company or other competent authorities
and external competent authorities (if necessary); all responsibilities caused by the Borrower for having no right to sign the
Contract shall be undertaken by the Borrower, including but not limited to proving compensation for loss to the Lender in full
amount.

 

(3) There is no conflict
for the signing and fulfillment of the Borrower for the Contract with provisions (such as articles of association) which are binding
for the Borrower and assets and other agreement (including but not limited to investment and financing abroad, warranty provided
to others and/or itself).

 

     

     

    

 

(4) All documents and
information, including but not limited to transaction contract, agreement, relevantly financial statement, contract under the performance,
signed with other financing institutions and contract providing warranty to others and/or itself shall be true, correct, legal,
valid and complete.

 

(5) When signing the
Contract, no litigation, arbitration or criminal and administrative punishment which causes seriously adverse consequences on the
Borrower or main property of the Borrower take place and such litigation, arbitration or criminal and administrative punishment
will not take place during the execution of the Contract. If happens, the Borrower shall immediately notice the Lender based on
provision of the Contract.

 

(6) The Borrower possesses
sustainable operation ability and legal source of repayment.

 

(7) In case the Borrower
is in default on principal and interest of the loan or any other default, the Lender is entitled to notice related department or
unit and make collection by announcement via news media.

 

(8) The Borrower shall
operate legally, with sound credit standing, without poor credit record such as credit default and evasion and rejection of bank
debts.

 

(9) The Lender has the
right to provide the loan information of the Borrower to the national financial credit information basic data center according
to the credit management rules.

 

14. 2 Statement and
guarantee of the Lender are as follows:

 

(1) The Lender is a
legal trust company approved by China Banking Regulatory Commission and approved business contains the fiduciary activities including
events involved in the Contract. The Lender has full capacity for civil conduct as the non-bank financial institution in China.

 

(2) The Lender issues
trust loan to the Borrower with the trust capital under the trust plan and Chang’an Trust has legal right of disposition
of trust property.

 

Article 15 Responsibility
of Default 

 

15.1 Any party shall
take the responsibility of default by law if not performing or incompletely performing the obligations agreed in the Contract.

 

15.2 In case the Borrower
fails to pay interests under the Contract on schedule with full amount, the Lender is entitled to ask the Borrower to pay off in
deadline and charge the Borrower for overdue interest by the interest rate 50% above the loan interest rate under the Contract
as well as charge liquidated damages in the following way: amount of overdue interest *[0. 08] %/day*actual overdue days.

 

15.3 In case the Borrower
fails to pay the principal under the Contract on schedule with full amount, the Lender is entitled to ask the Borrower to pay off
in deadline and charge the Borrower for overdue interest by the interest rate 50% above the loan interest rate under the Contract
as well as charge liquidated damages in the following way: amount of overdue interest *[0. 08] %/day*actual overdue days.

 

15.4 In case the Borrower
fails to use the loan for the purpose agreed in the Contract, the Lender is entitled to pronounce the acceleration of maturity
of loan and withdraw all loans in advance as well as request the Borrower to pay the liquidated damage by 100% of appropriated
funds.

 

15.5 In case of the
following behaviors, the Lender is entitled to announce the acceleration of maturity of loan, stop issuing the funds which have
not been withdrew by the Borrower and withdraw all loans in advance. The Borrower shall pay all payable but unpaid principal, interest
and expenses under the Contract by the date determined in notice of the acceleration of maturity. The Borrower shall amend and
take remedial measures satisfied to the Lender within 5 days after receiving the notice of the Lender.

 

(1) Provide the Lender
with false or subreptitious balance sheet, profit and loss statement and other financial information, contract and agreement related
to the transaction, etc.

 

     

     

    

 

(2) Violate this Contract
by not notifying the Lender under the circumstances that it should notify the Lender, or not adopting payment, guarantee or other
remedial measures under this Contract;

 

(3) In case of the following
situations that the Lender holds it may endanger the safety of creditor’s right under the Contract: the Borrower fails to
fulfill other matured debts (including the matured debts to the Lender or the third party), assign property with low price and
without reward, abate debts of the third party, negligent in exercising creditor’s rights or other rights or proving warranty
for the third party;

 

(4) The important part
of or all properties are occupied by other creditor or taken over by the assigned consignee, recipient or similar personnel or
the properties are distrained or frozen, which may cause loss to the Lender;

 

(5) In case of alteration
on matters of industrial and commercial registration such as corporate shareholder, residence, contact address, business scope
and legal representative or significant investment abroad that may affect or threaten the achievement of creditor’s right
of the Lender;

 

(6) Involved in significant
economic dispute or deterioration of financial conditions which may affect or threaten the achievement of creditor’s right
of the Lender;

 

(7) Warranty has not
been established validly or cancelled arbitrarily, or the value of guarantees and pledge used for warranty has been or may be reduced,
or warrantor may lose qualification or ability of warranty.

 

(8) During the life
of loan set forth in the Contract, the Borrower defaults to any creditor;

 

(9) Any precondition
for issuing a loan agreed in the Contract has not been satisfied continuously.

 

(10) Any behavior or
situation which may threaten the achievement of creditor’s right of the Lender or cause loss.

 

15.6 In case the Borrower,
guarantor or the opposite side of transaction document violates the agreement of transaction document, the Lender is entitled to
pronounce the acceleration of maturity of the loan, stop issuing the funds which have not been withdrew by the Borrower and withdraw
all loans in advance. The Borrower shall pay all payable but unpaid principal, interest and expenses under the Contract by the
date determined in notice of the acceleration of maturity.

 

15.7 In case two and
above matters of default take place simultaneously, the foregoing funds can be applied repeatedly.

 

Article 16 Validation,
Alteration and Termination of Contract

 

16.1 The Contract shall
take effect since the date when the legal representatives or authorized representatives of both the Lender and the Borrower sign
or seal and stamp the official seal of unit or special seal for contract and terminate since the date when all loan principal,
interest, compound interest, default interest, liquidated damages and all payable expenses are paid off.

 

16.2 The Lender can
transfer all or part of creditor’s right of loan under the Contract to the third party after the validation of the Contract.
But the Borrower is not allowed to transfer its rights and obligations under the Contract to the third party without permission
of the Lender.

 

16.3 In case the trust
plan is invalid, the Contract is terminated automatically. Parties shall not take the responsibility of default, save the invalid
trust plan caused by the Borrower, in which case the Lender has the right to require the Borrower to pay damage. Damage = the loan
amount agreed under this Contract *0.08% * day*N.

 

N: the actual existing
days between the Contract signing day (including) and the day to pay for damage (not including).

 

     

     

    

 

Article 17 Ways
of Dispute Resolution 

 

17.1 Both parties shall
solve disputes arising from the process of contract performance by friendly negotiation. In case no settlement can be reached through
negotiation, the parties can prosecute to people’s court with right of jurisdiction in the domicile of the Lender or apply
for compulsory execution to people’s court with right of jurisdiction.

 

17.2 During negotiation
and litigation and the Borrower is applied to execute, for other terms without disputes under the Contract, the Lender and the
Borrower shall still execute.

 

17.3 Any dispute arising
from the signing and performance of the Contract and interpretation of terms under the Contract are subject to laws and regulations
of People’s Republic of China (for the purpose of the Contract, not including laws and regulations of Hong Kong, Macao Special
Administrative Region and Taiwan) and interpreted by these.

 

Article 18 Notification
and Delivery 

 

18.1 All notifications
of both parties are in written form and can be delivered by personal service, registered letter service and express mail service.
The fax can be auxiliary mode of service but shall be made supplementary service in the foregoing stipulated manner.

 

18.2 Save the Contract
otherwise requires, notification is deemed to be delivered to notified party on the following date.

 

(1) Personal service:
date stated in the signature form of notified party received by notifying party.

 

(2) Registered letter
service: the seventh day after the date when sending the receipt of registered letter at home possessed by notifying party

 

(3) Express mail service:
the third day after postmark date after sending the delivery certificate possessed by notifying party

 

(4) Fax: the first workday
after receiving the confirmation of successful delivery

 

18.3 Both parties agree
that their contact and communication method follow the following relevant information:

 

Contact information
of the Borrower is as follows:

 

Contract person: Qiao
Hu

 

Contract address: Te
15, Huangpu Science & Technology Garden, Wuhan City

 

Postal code: 430023

 

Telephone: 13317109760

 

Fax: 027-65694977

 

Contract information
of the Lender is as follows:

 

Contact person: Su Juxiong

 

     

     

    

 

Contact address: 23/F,
24/F, 35/F, 36/F, High-Tech International Business Center, No. 33, Keji Road, Gaoxin District, Xi’an City

 

Postal code: 710075

 

Telephone: 18164039168

 

Fax: 027-82713008

 

18.4 During the life
of loan, in case the contact address or contact information of one party changes, it shall notice the other party within seven
workdays since the date of change in writing. If failing to immediately notice the other party in case of any change, the notification
sent by one party to the other is deemed to be delivered.

 

Article Confidentiality

 

19.1 Both parties take
the confidentiality obligation for the Contract and events related to the Contract. One party is not allowed to disclose any event
related to the Contract to the third party without the written permission of the other party, save the following situations.

 

(1) The Lender fulfills
the obligation of information disclosure stipulated by laws and regulations or trust document and discloses to trustor and beneficiary.

 

(2) Disclose to staff
such as auditor and lawyer entrusted in business, with the premise that the staff must take confidentiality obligation for information
related to the Contract perceived from their work;

 

(3) Such information
and document may be obtained through public approach or the disclosure of such information is the requirement of laws and regulations;

 

(4) Disclosure related
to the Contract made to court or based on requirement of disclosure procedure or similar procedure before litigation or adopted
legal procedure;

 

(5) Disclosure made
by the Lender to the financial regulatory institution in accordance with the requirements of financial regulatory institution.

 

19.2 In any case, the
confidentiality obligation stipulated in this section shall be permanently and continuously valid.

 

Article 20 Force
Majeure 

 

20.1 Force majeure in
the Contract refers to any unforeseeable, unavoidable and insuperable objective circumstances, including but not limited to flood,
earthquake and other natural disasters, war, epidemic situation, disturbance, strike and act of government, etc.

 

20.2 In case one party
of the Contract fails to completely or partly fulfill the Contract due to force majeure, it shall notice the other party in writing
within 5 days since the occurrence of force majeure and provide the detailed information of events and documentary evidence that
relevant competent authority and functional department prove that the Contract cannot be fulfilled completely or partly within
15 days.

 

20.3 Any party shall
not take responsibility of default in case it fails to completely or partly fulfill the Contract due to force majeure but it shall
take all necessary and appropriate actions to minimize the losses caused to the other party.

 

20.4 In case of force
majeure, both parties shall make negotiation and determine to alter or terminate the Contract based on the influence of force majeure
on the fulfillment of the Contract.

 

     

     

    

 

Article 21 Term
of Reservation of Right 

 

Rights of the Lender
under the Contract do not impact and exclude any right shared by laws and regulations and other contract. Any tolerance, moratorium,
privilege implemented on any default or delay or delay in exercising any right under the Contract shall not deemed to be waive
of rights and interest under the Contract or permission or approval for any breach of contract, not limiting, preventing and hindering
the continuous exercise of the right or any other right, or leading the Lender to take the obligation and responsibility for the
Borrower.

 

Article 22 Supplementary
Provisions 

 

22.1 For unaccomplished
matters in the Contract, both parties shall reach a written agreement separately as the attachment of the Contract. Any attachment,
modification or supplementation of the Contract is indivisible component of the Contract, with the equal legal effect with the
Contract.

 

22.2 In case any term
of the Contract is invalid for any reason, the invalid term does not impact the effect of other terms of the Contract and both
parties shall continue to fulfill other terms, save the invalid term makes the purpose of the Contract unrealizable or causes practical
influence on fulfillment of other terms.

 

22.3 As for the date
when the Lender issues or receives funds under the Contract, in case of public holiday or legal holiday, postpone to next workday.

 

22.4 The Contract is
made in duplicate, with each for both parties. Submit one copy to Notarization Department of Wuhan City for filing. It is stored
by Chang’an Trust and each has equal legal effect.

 

22.5 The irrevocable
Certificate of Indebtedness of Loan submitted by the Borrower to the Lender is the loan certificate of the Contract, with equal
legal force with the Contract.

 

The Borrower has read
all terms of the Contract. At the request of the Borrower, the Lender has made corresponding stipulation about the Contract. The
Borrower has completely understood the meaning of contract terms and corresponding legal consequence. The Borrower is entitled
to sign the Contract.

 

(There is no body in
the following)

 

     

     

    

 

[This page is the signature page of the
Trust Contract of Chang’an Trust—No. 2 Assembled Funds Trust Plan of Kingold Jewelry Loan, with the number: trust assembled
Kingold loan 15240818, no body.]

 

The Borrower: Wuhan Kingold Jewelry Co.,
Ltd. (official seal or special seal for contract)

 

Legal representative or authorized representative
(sign or seal)

 

The Lender: Chang’an International
Trust Co., Ltd (official seal or special seal for contract)

 

Legal representative or authorized representative
(sign or seal)

 

Date of signature: March 9, 2016

 

Address of signature: Xi’an CityExhibit 10.16

 

No. 2016 280003240011

 

Loan Agreement of Circulating
Funds

 

Evergrowing Bank

Signing Location: Yantai,
China

 

     

     

    

 

Loan Agreement of Circulating Funds

 

	
        Important Notice to
        Borrower

        Please
        read the whole Agreement carefully, especially the provisions marked as DD.
        If you have any questions, please ask the Lender timely to explain.

 

Borrower (The Borrower):
_Wuhan Kingold Jewelry Co., Ltd

Legal Representative/
Principal: Zhihong Jia

Address: Te #15
Huangpu Technology Park, Jiang An District, Wuhan Postcode: 430023

Telephone: __027-65660346_____
Fax: 027-65660703

 

Lender
(The Lender): Evergrowing Bank Co., Ltd. _ Yantai Huanshan Road
Branch

Legal Representative/Principal:
__Shuyun Zhang

Address: _No. 116
Huanshan Road, Zhifu District, Yantai City  Postcode: 264000

Telephone: _0535-6621197_____________
Fax: 0535-6621197

 

Since the Borrower
applies for loan from the Lender, to specify the rights and obligations of both parties, the Borrower and the Lender reach consensus
through consultation and agree with following agreement.

 

Article 1 Loan

1.1 Currency: RMB.

1.2 The amount of loan
under the Agreement is: _ ONE HUNDRED MILLION.

1.3 This loan should
be used for Purchasing Gold only.

1.4 The life
of loan under the Agreement is from 3/24/2016 to 3/21/2018.

The life of loan is
from the date of issuing the first loan under this Agreement to the date when Borrower pays back the principal and interest under
the Agreement.

 

Article 2 Interest
Rate of Loan and Interest Settlement 

2.1 The interest rate
of loan under the Agreement uses the way in _2.1.1__ as follows:

2.1.1 Fixed rate, i.e.
__7_%. (Year) During the life of loan, it is unchangeable and will not adjust basing on national interest.

2.1.2 Floating interest
rate, i.e. ___/__ (choose “rising” or “lowering”) __/__% based on the benchmark interest rate
of value date. If the People’s Bank of China adjusts the benchmark interest rate during the loan term, following / 
is used as the interest rate adjustment date:

		(1)	The adjustment is made monthly, once per month.

		(2)	The adjustment is made quarterly, once per quarter.

		(3)	The adjustment is made every half year, once per half year.

		(4)	The adjustment is made every year, once per year.

If the People’s
Bank of China changes the benchmark interest rate into floating interest or calls the benchmark interest rate, the parties should
adjust the loan interest under mutual discussion, but the interest after the adjustment should be not lower than the interest before;
if after ___/__ month from the date when the People’s Bank of China adjusts the interest, the two parties have not
reached a consensus regarding the adjusted interest rate, the Lender has right to declare the acceleration of maturity regarding
the loan under this Agreement.

2.1.3            /               (foreign
currency) interest        /           ;

2.1.4            /            
.

2.2 Interest settlement

2.2.1 Daily interest
= monthly interest rate / 30, monthly interest rate = annual interest rate/12.

2.2.2 Normal interest
= agreed rate of interest under this agreement × loan amount × usage days been used. The usage days should start from
the lending day to the date of expiry.

2.2.3 The interest
settlement of loan under the Agreement is based on the following __SECOND__ way. When the loan expires, the principal and interest
should be repaid. The interest settlement date is the interest payment date.

		(1)	The interest is settled on the 20th day of last month of every season;

		(2)	The interest is settled on the 20th day of every month.

 

     

     

    

 

2.3 Default interest

2.3.1 If the Borrower
fails to use the loan in accordance with the agreed purposes, or the Borrower fails to repay the loan within the agreed deadline
and has not reached agreement on extension with the Lender (so it is overdue loan), the Lender has the right to get the default
interest for the misappropriated loan or overdue loan according to the default interest rate under this Agreement.

2.3.2 If the loan currency
is RMB, when the Borrower fails to repay the loan within the agreed deadline, the default interest rate will increase by 50% regarding
the overdue loan; when the Borrower fails to use the loan in accordance with the agreed purposes, the loan interest rate will increase
by 100% regarding the misappropriated loan. If the People’s Bank of China adjusted the benchmark interest rate, the floating
interest loan is overdue or misappropriated, the Lender has the right to adjust the default interest rate, and applies the new
default interest since the interest adjustment date of the People’s Bank of China. If the loan currency is foreign currency,
the default interest rate is: increase  /  basing on the agreed interest rate.

2.4 If the Borrower
repays or the Lender calls in loan in advance, the relevant interest will not be adjusted and the agreed interest rate still applies.

 

Article 3 Issuance,
Payment and Repayment of Loan

3.1 The Borrower can
draw the loan amount by several allocations, but the sum of all allocations does not exceed the amount provided by Article 1.
The drawing shall comply with following allocation plan:

	Drawing Date	Drawing Amount
	3/24/2016	ONE HUNDRED MILLION
	\	\

DD
3.2 The Lender is only obliged to loan when the following conditions
are met constantly:

		(1) 	The Borrower has completed all the relevant legal procedures including the government license,
approval, registration and other legal procedures required by the Borrower, and such legal procedures are continuously effective;

		(2) 	The guarantee agreement (if any) under this Agreement has taken effect and will be continuously
effective; if the guarantee agreement is pledge agreement and/or mortgage agreement, the guarantee right has been set and will
be continuously effective;

		(3) 	The Borrower’s operation and financial status does not have any substantial adverse changes;

		(4) 	The Borrower does not violate this Agreement;

		(5) 	The way of this loan payment is consistent with the Agreement; if the lender entrusted payment
is the payment way, the Lender agrees to pay;

		(6) 	If the loan is issued in foreign currency, the Borrower has already opened the relevant account
according to the management requirement of foreign exchange and provided the documents showing that the loan conforms the relevant
foreign exchange policy, including but not limited to, effective foreign exchange purpose documentary evidence, registration or
approval documents.

		(7) 	The Borrower has already opened the capital recovery account according to Article 3.9;

		(8) 	_______/___________________________________________________________.

3.3 The Borrower appointed
the account below as the loan account:

Account Name : Wuhan
Kingold Jewelry Co., Ltd. 

Account No.: 853528010122803329

Bank Name : Evergrowing
Bank. 

3.4 The actual date
of lending and the amount is subject to the Loan Certificate.

3.5 The Borrower shall
go through the drawing procedure at least three bank business days in advance, send the application to the Lender to meet the capital
payment need for the future / days, and clarify the way of payment (entrusted payment by the Lender or the direct payment
by the Borrower).

3.6 Entrusted payment
by the Lender is that after the loan is issued pursuant to this Agreement, the Lender pays the loan to the counterparty of the
Borrower who conforms to the agreed purposes of the Agreement, according to the entrusted payment power of attorney of the Borrower.

The lender entrusted
payment is used if any of the conditions below is met:

(1) The amount of one
payment is more than / (this amount is the limit of entrusted payment).

(2)          /         .

 

     

     

    

 

If the entrusted payment
of the Lender is the way of capital payment, the Borrower should send Loan Capital Payment Power of Attorney. The Lender reviews
the Credit Usage Application, Loan Capital Payment Power of Attorney, Loan Certificate and relevant payment transaction documents
(including but not limited commercial contract, invoices and goods receipts). If the application conforms with this Agreement and
the relevant payment transaction documents, the Lender will pay the loan capital to the counterparty of the Borrower according
to the agreed purposes of the Agreement. If the planned payment of the Borrower is not in compliance with the this Agreement, the
corresponding commerce agreement, proof materials or has any other default, the Lender has the right to refuse to pay and return
the payment power of attorney submitted by the Borrower.

If the Lender agrees
to pay, but since the information provided by the Borrower is wrong so it can’t be paid, or the payment is refunded, the
Borrower shall resubmit relevant certificate and documents with correct information before the deadline provided by the Lender.
The Lender does not bear the loss of the Borrower caused by the payment failure.

If the Lender pays
to the wrong party because the information provided by the Borrower is wrong, the Lender does not bear any responsibility to the
Borrower. The Borrower still needs to repay the principal and the interest for the part of wrong payment.

3.7 Direct payment
by the Borrower means, after the Lender pays the loan to the account of the Borrower according to this Agreement, the Borrower
directly pays to its counterparty according to the agreed purposes of the Agreement.

For loan amount payment
not exceeding / Yuan, and the Borrower and the Lender do not agree to adopt entrusted payment, the direct payment by the
Borrower will be used.

If direct payment is
used, the Lender has the right to examine if the loan payment conforms to the agreed purposes by ways such as account analysis,
certificate review, and on-site investigation. The Borrower shall cooperate with the Lender about the examination.

3.8 The Borrower shall
pay back according to the deadline in Article 1.4 and following plan. If the Loan Certificate states a deadline different with
this Agreement, the Loan Certificate prevails.

	Repayment Deadline	 	Repayment Amount
	3/21/2018	 	ONE HUNDRED MILLION

3.9 Loan capital recovery
account.

The Borrower shall
open specialized loan capital recovery account from the Lender (Account Name: / Account No.: /, Bank Name:
/), so the Lender can recover the loan capital. The capital recovery account is used to receive the relevant sales revenue
or planned repayment capital. If the relevant sales revenue are calculated in non-cash way, the Borrower shall insure that the
capital is allocated to the recovery account on time after receipt. In the meanwhile, the Borrower shall provide the loan capital
recovery account details to the Lender / (week/ month/ quarter).

DD
3.10 If the Lender receives loans in advance according to Article 8 of this Agreement, it deems that the loan deadline advances
accordingly. 

DD
3.11 If the Borrower prepays the loan, the Borrower shall send the application in writing 30 days in advance for consent by the
Lender. When the Borrower prepays the loan, the Lender has the right to charge the loan interest according to the Agreement in
the actual loan period, and charges the repayment procedure fee which is __/_ % of the prepaid capital. 

DD
3.12 The Borrower hereby irrevocably authorizes that when any of the situations under Article 8 or 9 happens, the Lender can withdraw
principal and interest from any account of the Borrower. The Borrower agrees to give up any right of defense.

 

DD
Article 4 Warrant 

The guaranty contracts
are as follow:

1) 2016 Chattel
Pledge No. 280003240011, Chattel Pledge Agreement, the way of warrant: Pledge, warrantor: Wuhan Kingold Jewelry
Co., Ltd.

2) 2016 Guaranty
No. 280003240011, Guaranty Agreement, the way of warrant: Guaranty, warrantor: Zhihong Jia. 

 

Article 5 Representations
and Warranties of the Borrower

5.1 The Borrower is
an independent civil subject set in accordance with the law, has all the necessary civil rights capability and civil action capability;
and has the ability to fulfill the obligations of the Agreement and take civil responsibility.

5.2 Signing and fulfilling
the Agreement is the Borrower’s true intention, and has gone through all the necessary approvals and authorization, and there
is no legal flaw.

5.3 The operation and
business of the Borrower is legal and in compliance. The Borrower has the ability of continuing operation, it has legal repayment
source, and it does not have material bad credit record. The management team of the Borrower has no bad record.

 

     

     

    

 

5.4 The circulating
fund loan matters are in compliance with the law.

5.5 The Borrower shall
provide complete, true and accurate, effective documents, statements, materials and information on time according to the Lender’s
requirement. The Borrower never hides any information that will give bad influence to its financial condition and ability of repayment.
There is no material adverse change to the Borrower’s financial condition since the date of the latest financial statement.

5.6 When signing the
Agreement, the Borrower is not a shareholder or “actual controller” under the Company Law of the guarantor, and has
no plan to be a shareholder or actual controller of the guarantor, or the guarantor has provided its shareholder resolution about
agreeing to provide guaranty to the Borrower.

DD
5.7 Before paying off all debt under the Agreement, the Borrower’s financial target should be controlled in :

(1) Asset-liability
ratio should not be higher than _/__%;

(2) Liquidity ratio
should not be lower than _/_%;

(3) Quick ratio should
not be lower than _/__%;

(4) The balance of
external guarantee should not be higher than _/_% of net assets;

(5) __/_______________________________________

5.8 The Borrower promises
that it will cooperate with the Lender regarding loan payment management, the post-loan management and relevant examination.

5.9 Before external
investment, material increase of debt financing, merge, split, equity transfer and other material matters, the Borrower should
get permission from the Lender first.

5.10 The Lender has
the right to call back the loan in advance according to the capital recovery situation of the Borrower.

5.11 The Borrower should
inform the Lender timely if any material disadvantage issues happened that would affect the ability of taking back the loan of
the Lender.

 

Article 6 The Rights
and Obligations of the Lender

6.1 The Lender has
right to call back the loan capital, interest (including default interest for expiration and misuse) according to the Agreement,
charge the fees payable by the Borrower, has right to call back the loan in advance according to the Borrower’s capital recovery
situation, and exercise other rights under the Agreement or under the law.

6.2 During the process
of exercising the Agreement, the Lender checks the documents provided by the Borrower. If the Lender cannot complete the entrusted
payment on time because the Borrower provided untrue, inaccurate or incomplete documents or the Borrower conducts the payment in
violation of this Agreement, the Lender shall not undertake any responsibilities.

6.3 If the lending
or the payment failed because of the frozen loan account or the payment account appointed by the Borrower or because of any other
reasons, the Lender shall not undertake any responsibilities.

 

Article 7 The Rights
and Obligations of the Borrower

7.1 The Borrower shall
repay the loan and interest under the Agreement according to the timing, amount and currency agreed in this Agreement.

The Borrower shall
allocate the sales revenue or planed repayment into the capital recovery account timely, and shall provide capital flow details
of the capital recovery account according to the Agreement’s requirement.

7.2 The Borrower shall
not divert the loan under the Agreement to other purposes, shall not use the loan to invest in fixed assets or equity, or areas
and uses for production and operation forbidden by the country.

The Borrower shall
pay the loan capital according to the Agreement, shall not avoid the lender entrusted payment by breaking the whole into the parts.
The loan capital payment shall comply with the Agreement rules if the borrower direct payment is adopted.

7.3 The Borrower shall
provide the record and materials regarding the loan amount usage to the Lender each / (week/month/quarter).

DD
7.4 The Borrower shall bear the expenses under the Agreement, including but not limited to the notary fee and the appraisal fee.

The Borrower shall
bear the loan capital clearing fee (including the lender entrusted payment and the borrower direct payment), and shall pay in full
the relevant fees on time according to the fee items, rates and timing required by the Lender. The payment may be processed through
People’s Bank payment system or the clearing system in the same city.

DD
7.5 The Borrower shall follow the Lender’s business regulations and operation customs related to the loan business, including
but not limited to cooperating with the Lender to manage the loan payment system and check the utilization of the loan and the
Borrower’s operation, and timely providing the Lender financial reports, loan payment usage record and materials, information
of affiliates and related party transactions, other documents and information, and guarantee that provided materials are all valid,
true and complete. 

 

     

     

    

 

DD
7.6 The Borrower shall notify the Lender for any of the following events at least 30 days in advance, and shall not act before
paying off all of the loan principal and interest under this Agreement or providing the payment schedule and guaranty approved
by the Lender: 

(1) Address material
assets or all or most of the materials assets by sale, gift, lease, lend, transfer, guarantee, pledge or other ways;

(2) There is or may
be material change to the operation system or ownership organization form, including but not limited to contracting, renting, joint
venture, corporation reform, share cooperation reform, enterprise sale, M&A, joint operation, split, setting subsidiary, ownership
transfer, capital decrease;

(3) There is other
situation of losing or has possibility of losing the ability to repay debt;

DD
7.7 The Borrower shall inform the Lender with a written notice at least 7 days in advance if any of the below situations happened
or might happen:

(1) The Borrower or
its affiliates modify its bylaws, change its industry and commerce registration matters such as articles of incorporation, enterprise
name, legal representative, domicile, mailing address or business scope or makes decisions with material effect to finance or personnel;

(2) The Borrower, its
affiliates or guarantor plans to file bankruptcy or may have been filed bankruptcy by the creditor;

(3) The Borrower or
its affiliates involve in major lawsuits, arbitrations, administrative measures, or the main property or guaranty under this Agreement
has been conducted property attachment or other enforcement measures, or, the safe and complete status of the main property or
guaranty under this Agreement is or may have been impacted or the value decreased or it is possible to decrease;

(4) The Borrower or
its affiliates provide guarantee for a third party so it causes major adverse implication to its economic status, financial status,
or the ability of performing the obligations under this Agreement;

(5) The Borrower or
its affiliates sign an agreement which has major implication to its operation and financial status;

(6) The Borrower, its
affiliates or guarantor stops production, closes business, dissolves, suspends business for rectification, is repealed or is revoked
business license;

(7) The Borrower or
its affiliates, the major investor individual of the Borrower or its affiliates, the legal representative (responsible person),
director or senior manager of the Borrower or its affiliates disappears, involves in violation of the laws and rules or the applicable
exchange rules or appears abnormal changes;

(8) The Borrower or
its affiliates have serious operational problems, its financial situation deteriorates, or any other events happened which have
negative impact on the Borrower or its affiliates’ operation, financial condition, the ability of repayment or the economic
status;

(9) Related party transaction
happens, and the transaction amount reaches to or beyond 10% of the latest audited net asset;

(10) Before paying
off the debts under the Agreement, the Borrower is or might become a shareholder of the guarantor or the “actual controller”
defined by the Company Law;

(11) The Borrower or
its affiliate breaks the laws and regulations, rules of supervision, national policy or industry standards and results in liability
accident or is exposed by media;

(12) The relationship
of controlling or being controlled between the Borrower and its affiliates changes;

(13) Any material negative
events that will impact the ability of loan repayment of the Borrower or its affiliates.

DD
7.8 When the guaranty under the Agreement changes and disadvantages the right of the Lender as a creditor, the Borrower should
timely provide other guaranty approved by the Lender according to the Lender’s requirement. 

“Change”
under this article includes but not limited to: the guarantor stops production, closes business, dissolves, suspends business for
rectification, business license is repealed or is revoked, file or is filed for bankruptcy; material change happens to the guarantor’s
operational or financial condition; the guarantor involves in significant lawsuit, arbitration, administrative measures, attachment
or other compulsory measures are conducted to its major asset; the value of collateral decreases or may decrease or is conducted
attachment or other compulsory measures; the sound condition of the collateral is affected or might be affected; the guarantor
or its legal representative (responsible person) or the major manager of the guarantor is involved in violation laws and rules
or the applicable exchange rules; the guarantor disappears or dies (or declaring death) if the guarantor is an individual; the
guarantor violates the Guaranty Agreement; the Guarantor and the Borrower have disputes; the Guarantor requires to dissolve the
Guaranty Agreement; the Guaranty Agreement is not effective, invalid or cancelled; the guaranty right is unset or invalid; other
events impact the safety of the Lender’s creditor’s right.

7.9 Open a loan capital
recovery account according to the Article 3.9 of this Agreement.

 

     

     

    

 

DD
Article 8 Call Back the Loan in advance 

If any of the situations
at bellow happens, the Lender has the right to stop paying the loan unused by the Borrower, unilaterally declare that the issued
loan principal under the Agreement is expired in advance, and require the Borrower to pay back all the loan principal and interest
immediately, and has the right to deduct capital directly from the Borrower’s any account. After the deduction, the Lender
shall inform the Borrower timely. If the Borrower can prove that the deducted capital is protected by law specially so it shall
not to be deducted, the Lender shall return the capital to the deducted account.

		(1)	The Borrower does not pay the interest on time;

		(2)	The Borrower provides untrue financial reports and materials;

		(3)	The Borrower misappropriates the loan;

		(4)	Any of the events in the Articles 7.6, 7.7 happened, and the Lender believes it will endanger the
loan safety;

		(5)	The Borrower’s financial index is out of range of the Article 5.6;

		(6)	The Lender believes that the Borrower should prepay the loan according to the the situation of
the Borrower’s capital recovery;

		(7)	The issuance of the loan under this Agreement by the Lender causes or may cause law violation because
of the changed supervision regulation;

		(8)	When the Borrower is performing other contracts with the Lender or with a third party, it has violation
or the debt may expire in advance or has been declared expired in advance;

		(9)	Other situations that might endanger the loan capital safety.

 

DD
Article 9 Defaults and Dispositions

9.1 If any following
matters happen to the Borrower, it is considered as default:

		(1)	Fails to repay the loan principal and interest on time in accordance with the Agreement;

		(2)	Violates the representations and warranties of the Article 5 in the Agreement;

		(3)	Violates the obligations of the Borrower under the Article 7 in the Agreement;

		(4)	Fails to use the loan amount in the agreed way, or avoid Lender entrusted payment in a way by breaking
up the whole into pieces;

		(5)	Fails to open the loan capital recovery account pursuant to the Agreement;

		(6)	Material cross-default happens;

		(7)	Violates other articles of this Agreement.

9.2 After default,
the Lender has the right to adopt one or more of measures as below:

		(1)	Corrects default with deadline;

		(2)	Adjusts the amount threshold of the loan capital entrusted payment or the payment way of the loan
capital;

		(3)	Stops withdrawal by the Borrower;

		(4)	Dissolves the loan agreement, and requires the Borrower to pay off expired or unexpired loan principal,
interest and other dues;

		(5)	Requires the Borrower to pay overdue default interest if the loan is overdue;

		(6)	Requires the Borrower to pay misappropriation default interest if the Borrower misappropriates
the loan;

		(7)	Deducts owed loan principal and interest from any account that the Borrower has at Evergrowing
Bank;

		(8)	Pursues the loan principal and interest by the legal ways, and all fees paid to claim the credit
(including but not limited to collecting fees, litigation fees, arbitration fees, property attachment fees, enforcement fees, attorney’s
fees, case fees, declaration fees, appraisal fees, audit fees and so on) shall be borne by the Borrower.

9.3 If the guarantor
(i.e. warrantor, mortgagor, pledgor) has any following situation, the Lender has the right to adopt the measures according to Article
9.2:

		(1)	The warrantor violates the Warrant Agreement, its credit status deteriorates, or other event happens
which decreases its warrant ability;

		(2)	The mortgagor violates the Mortgage Agreement, or breaks the mortgage, or the value of the mortgage
may decrease or has decreased substantially, or other event happens which harm the mortgage right of the Lender happen;

		(3)	The pledgor violates the Pledge Agreement, or the value of the pledge has decreased or may have
decreased, or the pledge right has to be realized before the loan is paid off, or other event happens which harms the pledge right
of the Lender.

 

     

     

    

 

DD
Article 10 Deduction Arrangement

10.1 The Borrower authorizes
that, if there is any due and payable loan principal, interest, default interest or other fess, the Lender has the right to deduct
the capital from the Borrower’s any account in Evergrowing Bank to pay it off. After the deduction, the Lender shall inform
the Borrower timely. If the Borrower can prove that the deducted capital is protected by law and it shall not be deducted, the
Lender shall return the capital to the related account.

10.2 After the deduction,
the Lender shall inform the Borrower about the related account, the contract number of the Loan Agreement, the document number
of the Loan Certificate, the deducted amount and the remaining debt balance.

10.3 If the deducted
amount is not enough to pay off all the debts of the Borrower, it shall be used to compensate for the due fees first. If the principal
and interest is overdue for less than 90 days, the balance shall be used to pay the interest or default interest due and then be
used to pay the principal due. If the principal and interest are overdue for more than 90 days, the balance shall be used to pay
the principal due, and then be used to pay the interest or default interest due.

10.4 If the currency
of deducted amount is different from the currency of the due amount, it shall be converted to the currency of due amount according
to foreign exchange rate on that day.

 

DD
Article 11 Notice

11.1 All of the contact
information that the Borrower fills out in this Agreement (including contact address, telephone number and fax number) is real
and effective. If any contact information is changed, the Borrower shall give written notice of the changed information to the
contact address that the Lender provides in this Agreement. Only after the Lender has actually received the notice of changed information
and has updated relevant records, can this information change comes into effect.

11.2 Until this Agreement
provides otherwise, any notice that Lender gives to the Borrower can be given by the following ways. The Lender has the right to
choose the approach of notice which it deems proper, and under any circumstance, the Lender does not bear responsibilities for
any transmission errors, omissions, or deferral happened in mails, faxes, telephones or any other contact systems. If the Lender
chooses several contact ways at the same time, the one that reaches the Borrower more quickly shall prevail.

(1) Announcement: the
service date is the day when the Lender announces on its websites, online bank, telephone bank or sales departments.

(2) Personal service:
the service date is the day when the Borrower signs the notice.

(3) Mail delivery (including
EMS, ordinary mail and registered mail) to the Borrower’s contact address that the Lender knows as the latest: the service
date is the third day after the mailing date (in the same city) or the fifth day after the mailing date (different city) (even
the mail may be returned).

(4) Faxes or other
electronic contact methods to the Borrower’s fax number or electronic contact address that the Lender knows as the latest:
the service date is the sending day.

 

DD
Article 12 Information Disclosure and Confidentiality

12.1 The Lender shall
take the responsibility of keeping confidential for the Borrower’s trade secrets and other information and materials which
are marked as confidential, except following situations:

(1) Information is
required to disclose according to laws and regulations or listing rules;

(2) Information that
is required to disclose by judicial departments or government departments;

(3) Information that
shall be disclosed to the external professional advisers of the Lender;

(4) Information that
the Borrower agrees or authorizes the Lender to disclose.

12.2 Under the following
circumstances, the Borrower agrees that Evergrowing Bank can use or disclose all the information and materials related to the Borrower,
including but not limited to the basic information, credit transaction information and other relevant information and materials.
The Borrower is willing to take responsibility for any results caused by it.

(1) For the following
purposes, disclose to or permit usage of such information and materials by outsourcing agencies, the third party service providers,
other financial agencies and other agencies or persons which Evergrowing Bank considers necessary, including but not limited to,
other branches of Evergrowing Bank or subsidiary companies owned or partially owned by Evergrowing Bank:  ̈ to conduct the
loan transactions or is related to loan transactions, such as promoting Evergrowing Bank’s loan, collecting dues of the Borrower,
and transfer of the creditor’s right;  ̈ to let the Lender offer or may offer new products, new services or further
services for the Borrower;  ̈ to better maintain, manage and improve client relationships.

(2) Provide such information
and materials to the China Credit Information Center and other credit information agencies or Credit Information Database established
with the approval of The People's Bank of China.

 

     

     

    

 

(3) Use or permit
a third party to use such information and materials on the basis of confidentiality for the purpose of business operation, management,
statistics, analyses, and risk control.

 

Article 13 Law Application
and Dispute Resolution

The Agreement applies
to PRC laws. The disputes of the Agreement shall be submitted to the local court at the Lender’s residence. During the period
of the dispute, the provisions without disputes shall continue to be fulfilled by both parties.

 

Article 14 Other
Provisions

DD
14.1 The Borrower agrees that the Lender can enquiry and keep the Borrower’s credit information for loan application and
post-loan management.

DD
14.2 The Lender doesn’t bear any responsibility for the failure to issue loans on schedule or handle payment if the failure
is caused by force majeure,
communication failure, network failure, or the malfunction of Lender’s system. However, the Lender shall inform the Borrower
in time.

14.3 Phrases referred
to in the Agreement including affiliate, related-party transaction and main investor individual have the same meaning with those
in Accounting Standards for Business Enterprises No. 36— Affiliate Disclosure (Finance and Accounting Department [2006] No.
3) and its later revised edition.

14.4 The Agreement’s
Loan Certificate, Loan Withdrawal Application Form, Loan Capital Payment Power of Attorney and relevant documents and materials
confirmed by both two parties are indispensable parts of the Agreement.

14.5 If the Borrower
avoids monitor of the Lender, defaults on principal and interest of the loan, maliciously evades repayment obligations for loans
and so on, the Lender has the right to report its behaviors to relevant departments and publicize them on news media.

14.6 The Agreement
comes into effect after the Borrower’s legal representative (person in charge) or authorized representative signs (or seals)
and affixes the official seal, and Lender’s person in charge or authorized representative also signs (or seals) and affixes
the official seal.

DD
14.7 When signing the Agreement, the Lender and the Borrower have clearly read and understood all the provisions of the Agreement.
Both parties have no doubt about all the provisions and interpretations of the Agreement and correctly understand the rights and
duties clauses, and the legal meaning of the limitation and waiver of liability clauses.

14.8 The
Agreement is made out in two copies. The Borrower holds one copy/copies. The Lender holds one copy/copies.
___ holds one copy/copies. __ holds one copy/copies. __ holds one copy/copies.

 

Article 15 Other
Matters

The appointed warning
line for the pledge rate of this loan is 85%, and the disposal line for the pledge rate is 95%. When the loan pledge rate reaches
the warning line, the Borrower shall be required to pay the loan or increase the relevant amount of gold and cash deposit before
the risk coverage reaches to the loan disposal line. The collateral addition shall ensure the pledge rate to reach 80%. Once the
loan pledge rate reaches the disposal line, the processing bank has right to begin the process to dispose the collateral without
informing the client.

(There is no text below
in this page)

 

	The Borrower has read all the provisions above. The Lender has made corresponding explanations as required by the Borrower. The Borrower has no dissent on all clauses.

 

     

     

    

 

	The Borrower (official seal)	 	The Lender (official seal)
	 	 	 
	Legal representative (person in charge) or authorized representative (signature or seal)	 	Person in charge or authorized representative (signature or seal)
	 	 	 
	Sign on 3/22/2016	 	Sign on 3/22/2016

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00258-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00258-of-00352.parquet"}]]