Document:

Exhibit 10.7

 

Working Capital Loan Contract

 

Reference No. : 2019nianzhenzhongyinbujiezi
No.0051

 

Party A: Icon Energy System (Shenzhen)
Co., Ltd.

Business License: 91440300565741383D

Legal Representative: Dangyu Pan

Address: 4/f, Building A East, Jinmeiwei
Industrial Park, High Technology Park, Shangkeng Community, Guanlan Street, Baoan District, Shenzhen

Postal code: 518000

Deposit A/C and Financial Institutions:
Bank of China, Pinghu Sub-branch, Shenzhen, *

Telephone: * ; Facsimile: *

 

Party B: Bank of China, Buji Sub-branch.

Legal Representative: ZHENG XIAOCHUAN

Address: 108, Buji Road, Buji Town, Longgang
District, Shenzhen; Postal code: 518000

Telephone: * ; Facsimile: *

 

The borrower and lender conclude the contract
for the loan of party A to Party B through equal consultation.

This contract is the affiliated specific
credit contract under the “Comprehensive Credit Line Contract” (Reference No.: 2018zhenzhongyinebuxiezi No. 00030),
which is signed by Icon Energy System (Shenzhen) Co., Ltd. and Bank of China, Buji Sub-branch.

 

Clause 1 Amount

Party B agrees to provide the following
loan:

Currency in: RMB

Amount: ten millions only

RMB 10,000,000.00

 

Clause 2 Period of the loan

The period of the loan is 12 months starting
from the first withdrawal date in part or in whole.

It is Party A’s obligation to withdraw
funds on the date as agreed. Any late withdrawal will not result in delay/extension of repayment.

 

Clause 3 Use of loan

Purpose of loan: Purchase of raw materials

Party A is prohibited from changing the
use of loan without Party B’s written approval. The restrictions include but are not limited to changing the use of loan
to fixed assets or equity investments, as well as production activities prohibited by the central governments.

 

Clause 4 lending rate and interest calculations

1. Lending rate is floating rate, which
is reset every 6 months starting from the first withdrawal date. The rate resetting date is the first day of each floating period.

For each withdrawal in installments:

■ RMB floating rate

 

     

     

    

 

A. First withdrawal (during the first floating
period) interest rate is the six-month benchmark lending interest rate, set by Interbank rates, plus 91;

B. On the interest resetting date, the
new interest rate is the spot one-year lending interest rate, benchmarked by Interbank rates, plus 91 on all outstanding loan amounts.

2. Interest calculation

Interest is calculated starting from the
actual withdrawal date on the actual amount of money withdrawn and the number of days outstanding.

Interest calculation formula: Interest
= Principal × actual number of days × daily rate.

Daily rate calculation is: daily rate =
APR / 360.

3. The method of interest settlement

Interest settlement takes place on the
20th of each month, the 21st is the interest payment date.

If the final loan principal payment date
is different from the interest payment date, the borrower should pay off all interest on the principal payment date.

4. Penalty interest

(1) For the loan overdue or violated use
the loan purpose, penalty interest rate will apply to the loan amount that is overdue or misappropriated from the date of overdue
or misappropriation until the principal and interest are paid off.

On both overdue and misappropriation of
loans, a higher penalty interest rate shall be charged.

(2) If the borrower does not pay interest
and/or penalty interest by the interest payment date, the interest is calculated based on Clause 3 and 4.

(3) Penalty rate

■ The penalty interest rate on floating-rate
loans

According to the floating period and the
method of floating as agreed in Clause 1, the penalty interest rate of the overdue loan shall be the agreed interest rate plus
50%, and the penalty interest rate of the misappropriated loan shall be the agreed interest rate plus 50%;

 

Clause 5 Withdrawal Conditions

Withdrawal must meet the following conditions:

1. This contract and its attachments have
become effective.

2. Party A has provided guarantees requested
by Party B, and the guarantee contract has become effective and has accomplished legal procedures of approval and registration.

3. Party A has provided Party B with loan
documents, seals, personnel list, specimen signature, and complete the relevant evidence.

4. Party A has opened the account for fulfilling
this contract requested by Party B.

5. Party A should submit written withdrawal
application, documentary proof for using of loans and complete the relevant formalities for withdrawal before 5 banking days.

6. Party A has submitted resolution books
and power of attorney signed by the board or other authorities to Party B.

Withdrawal can be refused by Party B if
Party A has not met the above conditions, but agreed by Party B.

 

Clause 6 Date and method of withdrawal

1. All loans should be withdrawn in 30
days from 19th Jun 2019.

2. Party B has the right to refuse the
withdrawal application of unused loan which is over the date of withdrawal.

 

     

     

    

 

Clause 7 Payment of the loan

1. The account

The loan should be granted and paid through
the account opened by Party A:

Account Name: Icon Energy System (Shenzhen)
Co., Ltd.

Account number: *

2. The way of payment

(1) The way of payment should be in accordance
with laws and regulations, regulatory requirements and the contract. The way of single payment of the Loan should be approved in
written withdrawal application. Party B has the right to change the way of payment or stop providing the loan if the way of payment
in the application doesn’t meet the requirement.

(3) Borrower makes the payment on its own.

(4) The change of payment. The way of payment
should be changed when the payment, credit rating or other conditions of Party A has changed after submitting withdrawal application.
Party A should provide the written change application, should resubmit the withdrawal application and documentary proof for using
of loans if the sum, payment object or the use of loans has changed.

3. The specific requirements of entrusted
payment

(1) Entrusted payment. Party B pay to the
specified account directly which is written in this contract, including the name of account, account number and the sum of payment.

(2) To provide the transaction information.
Party A should provide the account of loans, the account information of counterparty and relevant documents when entrusted payment.
All document provided to Party B should be true, integral and effective, or Party B does not assume any responsibility for failed
transaction, and occurred repayment obligations do not be affected.

(3) Party B’s obligations under the
entrusted payment

A. Party B pay to the specified account
after examination and approval of Party A’s commission books and other related transaction information when entrusted payment.

B. If Party B found that the proof materials
and other related trading purposes material provided by Party A does not comply with this contract or the presence of other defects,
Party B has the right to require Party A to supplement, replace, description or re-submit the relevant materials. Before these
materials are submitted, Party B has the right to refuse the issuance and payment of the relevant amounts.

C. Party B will assume no responsibility
and the generated obligations of Party A will be not affected if Party B cannot pay the loan to the counterparty in time in accordance
with payment order of Party A because of the refund by opening bank of the counterparty. Party A hereby authorizes Party B to freeze
the fund returned by opening bank of the counterparty. In this case, Party A shall resubmit the payment order and use proven materials
and other related transaction materials.

(4) Party A shall not piecemeal way to
circumvent the trustee to pay Party B.

5. Party B has right to redefine the terms
of payment and loan disbursement or stop the loan if the following situations occurred:

(1) Party A violates the contract to circumvent
entrusted payment of Party B by piecemeal way.

(2) Party A's credit status drops or main
business profitability is not good.

(3) The use of loan is abnormal.

(4) Party A fails to provide the records
and information of the loan requested by Party B timely.

(5) Party A contravenes this section to
use the loan.

 

     

     

    

 

Clause 8 Repayment

1. Party A shall specify the following
account as capital recovery account and provide the information of this account. Party B has the right to ask Party A to explain
inflows and outflows of large-sum and abnormal capital, as well as monitor capital recovery account.

Account Name: Icon Energy System (Shenzhen)
Co., Ltd.

Account number: *

2. Except otherwise agreed, on the expiry
date, Party A must repay all the loans under this contract.

If Party A wants to change the plan of
repayment, a written application confirmed in writing by both parties jointly should be submitted in 10 banking days before the
loans maturity.

3. Unless otherwise agreed, Party A has
the right to decide repayment order of the principal or interest. If there are several expiring loans or overdue loans which are
repaid in installment way under this contract, Party B has the right to decide the liquidation sequence of a repayment. Party B
has the right to decide the priority of the repayment order if multiple contracts expire at the same time.

4. Unless otherwise agreed, Party A can
repay in advance, but Party A should notice Party B in written 15 banking days advance. The amount of the first advance payment
used to repay the final maturity of the loan, in reverse order to repay the loans.

5. Party A must deposit funds in the following
account three banking days advance of every expiring principle with interest. Party B has the right to take the funds from the
account on the expiry date.

Account Name: Icon Energy System (Shenzhen)
Co., Ltd.

Account number: *

 

Clause 9 Guarantee

1.       To
ensure that borrowing under this agreement is repaid, the guarantees shall be adopted by guarantees and Party B.

2.       Under
certain circumstance, Party B believes that will affect the capacity for fulfilling the contract of Party A or Guarantor, or Guarantee
Contracts are invalid, revoked or dissolved, or the financial position of Party A/Guarantor deteriorate or Party A/Guarantor involved
in litigation issues, or other factors which might affect its repayment ability, or guarantors were found default in other contracts
with Party B, or devaluation, dismiss or damage of collaterals which might cause the value of the collaterals slaked or losses,
Party B reserves the right to request Party A and Party A has the obligation to add or replace the guarantor.

 

Clause 10 Statement and Commitment

1.       Party
A’s statement:

1)       Party
A is legally register and exist with full capacity for civil rights and civil conduct;

2)       Signing
and performing the contract is the true will of Party A, Party A has been granted all legal and valid authorizations before signing
the contract. The contract does not form a default for other contracts signed and performed by Party A and other legal documents.
It is Party A’s responsibility to complete all required approvals, registrations, permits and filings.

3)       All
document and information, financial statement, certificates and other materials provided by Party A to Party B are true, complete,
accurate and effective.

4)       All
the transactions mentioned by Party A for apply specific credit line should be real and not for illegal purposes such as: money
laundry.

5)       No
hidden events regarding Party A and guarantor’s financial and repayment abilities.

 

     

     

    

 

6)       Party
A and the loan project reach the national environmental standards, not in the list of the enterprises which have problems of energy
consumption and pollution, don’t have the risk of energy consumption and pollution.

2.       Party
A’s commitment:

1)       Party
A shall submit the financial statements and other relevant information regularly, including but not limited to annual, quarterly
and monthly financial reports.

2)       Any
counter-guarantee agreement between the guarantors and Party A will not affect the Party B’s underlying rights under this
contract.

3)       Cooperated
in Party B’s exam and inspection on the utilization of the loan as well as Party A’s financials and operations.

4)       Under
circumstances Party A or Guarantor’s capability of performing the contract might be affected, Party A should notify Party
B in written in time. Those circumstances included but not limited to merger, division, decrease of capital, equity transfer, investment,
a substantial increase of debt financing, a major asset and credit assignment.

Party A should notify Party B in time,
when the following things occurred:

A. changes of articles of association,
the scope of business, registered capital and legal representative of Party A or Guarantor.

B. Any form of management mode change,
including joint operation, invest and cooperate with foreigners, contract management, reorganization, restructuring, listing plan.

C. Party A is involved in major litigation
or arbitration, or property or collateral is seized, detained or regulated, or set new guarantee in collateral.

D. Out of business, dissolution, liquidation,
suspend business for rectification, cancellation, revocation of the business license or (be) filed for bankruptcy.

E. Shareholders, directors and senior management
personnel suspected of serious cases or economic disputes.

F. Default events in other contracts.

G. Operating difficulties and financial
situation has deteriorated.

(5) The repayment to Party B prior to shareholders,
and is comparable to other creditors of the same kind debts.

Party A is prohibited to repay the loan
to shareholders before paying off the principal and interests under the contract.

(6) If Party A fails to pay principal,
interests and fees on time in the fiscal year, any form of dividends is forbidden.

(7) Party A cannot dispose of assets to
reduce its debt paying ability and promises the total amount of external guarantee is not 1 time higher than its net assets, and
the total amount of external guarantee and the amount of single guarantee shall not exceed the limitation set by the articles of
association.

(8) Except the use agreed in this contract
or agreed by Party B, Party A is prohibited to transfer the loans to other accounts or related accounts.

Party A should provide documentary proof
when the loan is transferred to other accounts or related accounts.

(9) Party B has the right to call the loan
advanced according to the situation of capital return of Party A.

 

Clause 11 Disclosure of the affiliated
transaction inside Party A 's group

Party A is a Group customer confirmed by
Party B according to the "Commercial Bank Group guidelines for customer credit risk management business"(hereinafter
referred to as “guideline”). During the credit period, Party A shall promptly report to Party B about more than 10%
of net assets associated with the transaction, including but not limited to: the parties to the transaction of the association;
trading program and nature of the transaction; the amount of the transaction or the corresponding ratio; pricing policies (including
no amount or only nominal amounts of transactions).

 

     

     

    

 

Under any of the following circumstances,
Party B shall have the right to unilaterally decide to suspend the unused loan and recover part or all of the principal and interest
of the loan in advance: use the false contracts which are signed with affiliated parties to discount or pledge at bank and to obtain
bank funds or credit with notes receivable and accounts receivable without actual trade background; the occurrence of major mergers,
acquisitions and reorganization which are considered by Party B may affect the loan safety; evasion or discarding of bank debts
on purpose through affiliated transactions; other circumstances stipulated in article eighteenth of "guidelines".

 

Clause 12 Breach of Covenants

Each of the following events and issues
constitute Party A in the event of default under the contract:

1.       Party
A did not perform the repayment obligation under this contract;

2.       Party
A has not used the credit funds according to agreed purposes, or has not paid the loan by agreed way in this contract;

3.       Party
A’s statements in this contract are untrue or in violation with commitments made by Party A in this contract.

4.       Under
the circumstance defined in 2.(4) of Clause 10, Party A refused to provide additional guarantee or replacement of a new guarantor.

5.       Deterioration
of credit, or profitability, debt paying ability, operating ability, cash flow and other financial indicators of Party A deteriorate,
breaking the contract index constraint agreed or other financial covenants.

6.       Party
A breaches other contracts signed with Party B or other affiliated institutions of Bank of China.

7.       Guarantors
breach contracts, or have default events with Party B or other affiliated institutions of Bank of China.

8.       The
termination of business or dissolution, revocation or bankruptcy of Party A.

9.       Party
A is or may be involved in major economic disputes, litigation, arbitration, or its assets were seized, detained or enforced, or
investigated or punished by the judicial organ or taxation, industry and commerce administrative organs in accordance with the
law, has been or may affect its ability to fulfill the obligations under this contract.

10.     Abnormal
change, missing, legal restriction of personal liberty and investigation by judicial authorities of Party A’s major individual
investors, key management personnel, which have been or may affect Party A to fulfill the obligations under this contract.

11.     Party
B finds the problems which may affect the borrower or guarantor's financial situation and performance capabilities when reviewing
Party A’s financial condition and performance capabilities every year (every year from the effective date of the contract);

12.     Party
A cannot provide materials to Party B to explain large and abnormal capital inflow and outflow in the account.

13.     Party
A is in violation with other rights and obligations agreed in this contract.

 

When any of the above situations occurred,
Party B will perform the following in separate or all at the same time according to the specific situation:

1)       Require
Party A or Guarantor to rectify defaults within a definite time.

2)       Reduce
completely or partly, pause or terminate Party A’s Credit limit.

 

     

     

    

 

3)       Pause
or terminate completely or partly Party A’s business applications in this contract or in other contracts between Party A
and Party B specific credit line under this contract. Pause or terminate completely or partly, or cancel or stop offering, paying
and settling the unissued loans and unsettled trade financing.

4)       Announce
the immediate expiration on all or part of the outstanding loans, principle and interest of trade financing and other accounts
payable under this contract or other contracts between Party A and Party B.

5)       Terminate
or release this contract, terminate or release contracts between Party A and Party B completely or partly.

6)       Require
compensation from Party A on the losses caused by Party A to Party B.

7)       Deduct
the fund from Party A’s deposit accounts to pay off the debts to Party B under this contract. All the undue funds in the
accounts were considered as acceleration of maturity. If the currency in deposit account is different from the currency of Party
B’s loans, the exchange rate on the date of the hold in custody will be applied.

8)       Real
rights of pledge will be executed.

9)       Require
Guarantors assume liability of guaranty.

10)     Other
necessary or probable procedures on Party B’s concern.

 

Clause 13 Rights reserved

One party does not perform part or all
of the rights under this contract, nor does not require the other party to perform, undertake part or all of the obligations and
responsibilities, which does not mean the abdication of the right or exemption of the obligation and responsibility.

Any tolerance, extension or delay from
one party to another party for exercising of rights under this contract does not affect the rights one party enjoys according to
this contract and laws and regulations, and does not mean the abdication of the right.

 

Clause 14 Changes, Modification, Termination

Upon negotiation and agreed by both parties,
this contract can be changed and modified by written. Any of the changes and modifications should form the inseparable part of
this contract.

 

Unless otherwise provided for in any law
or regulation or stipulated between the parties, this contract would not be terminated prior to all the rights and obligations
are fulfilled.

 

Unless otherwise provided for in any law
or regulation or stipulated between the parties, the invalidation of single terms under this contract should not affect the validation
of other terms under this contract.

 

Clause 15 Applicable Law and Resolution
for Dispute

1. This contract is applicable to the laws
of People’s Republic of China.

During the performance of this contract
or in connection with all disputes relating to this contract, the two parties settled through friendly consultations. If negotiation
cannot reach agreement, both parties can apply to the people's court of Shenzhen.

 

Clause 16 Attachments

The Appendix hereof and the other appendix
confirmed by both parties shall form an integral part of this contract, and shall be of legally equal effect with this contract.

1.       Withdrawal
application;

 

     

     

    

 

Clause 17 Other terms and conditions

1.       Without
Party B’s written approval, Party A is not allowed to transfer the rights and obligations under this contract to the 3rd
Parties.

2.       Party
A should give the consent that Party B might somehow authorize other affiliated institution of Bank of China to perform the obligation.
The performing party entitles all the rights and obligations under this contract, the performing party reserves the rights to appeal
a resolution of dispute if necessary.

3.       The
contract has equivalent restrictions to the successors or inherits of both parties.

4.       Unless
otherwise agreed, the domicile addresses stated in this contract are for corresponding use; both parties should notify each other
in writing about any changes of its domicile addresses.

5.       The
transactions under the contract based on independent interests. According to relevant laws, regulations and regulatory requirements,
other parties of the transaction constitutes a connected party or associated persons, any party shall not seek to use this relationship
to affect the fair of transaction.

6.       The
title and name of business in this contract is only for business purposes, will not be used for interpretation of the contract
terms, the rights and obligations.

7.       In
accordance with the provisions of the relevant laws and regulations, supervision, Party B has the right to provide the information
of this contract and other relevant information to the credit system of the people's Bank of China and other legally established
credit information database, for organizations or individuals who have the appropriate qualifications to query and use.

8.       If
the drawdown date or the repayment date is in legal holidays, then it is delayed to the first working day after the holidays.

9.       If
required by the governing institutions, Party B might not be able to perform the obligations agreed in this contract, Party B has
the right to stop or change the contract or its clauses, and Party B is exempted from punishment under this circumstance.

 

Clause 18 Effective of the contract

This contract enters into force upon the
date when it is signed or sealed and affixed with official seals by the legal representatives or entrusted agents of Party A and
Party B.

This contract is signed in quadruplicate,
each party holds two copies, which have the equal legal effect.

 

/s/ [Stamp of Party A]

Signature

 

/s/ [Stamp of Party B]

SignatureExhibit 10.8

 

Rev. 201704

 

WORKING CAPITAL LOAN CONTRACT

 

BANK OF JIANGSU

 

     

     

    

 

TO MY DEAR CUSTOMERS

 

Dear Customers,

 

According to relevant provisions of China
Banking Regulatory Commission and Bank of Jiangsu Co., Ltd., Bank of Jiangsu Co., Ltd. prohibits its employees from conducting
the following conducts:

 

1. borrowing money from customers;

 

2. providing guarantee, authentication
or matchmaking for private lending;

 

3. taking a part-time job in an enterprise;

 

4. borrowing transitional funds from customer
accounts or using personal account to transfer transitional funds to customers;

 

5. keeping cards, passbooks and passwords
on behalf of customers;

 

6. accepting or soliciting improper benefits.

 

In order to protect your rights and interests,
Bank of Jiangsu Co., Ltd. hereby solemnly reminds you as follows:

 

The conducts mentioned above are expressly
prohibited by Bank of Jiangsu Co., Ltd. Any such conduct engaged in by an employee of Bank of Jiangsu Co., Ltd. for any reason
shall be deemed as an individual conduct but shall not represent the will of Bank of Jiangsu Co., Ltd. Please keep in mind.

 

Meanwhile, Bank of Jiangsu Co., Ltd. requests
the Borrower to make supervision on the employees of Bank of Jiangsu Co., Ltd. If any employee of Bank of Jiangsu Co., Ltd. is
found with the situations mentioned above, the Borrower may report to us by the special email jsyhjcs@126.com or calling the inspection
office (Tel. 025-58587112) of Bank of Jiangsu Co., Ltd. Bank of Jiangsu Co., Ltd. shall keep it strictly confidential.

 

Bank of Jiangsu shall not charge any fees
other than the charging items publicly announced by our Bank to the outside. Bank of Jiangsu shall not cooperate with any intermediary
in violation of regulations. In addition, any fees and security deposits of any kind charged by any other institution from any
person shall have nothing to do with Bank of Jiangsu Co., Ltd. Any and all legal consequences and liabilities arising therefrom
shall have nothing to do with Bank of Jiangsu Co., Ltd.

 

Bank of Jiangsu Co., Ltd.

 

Bank of Jiangsu Co.,Ltd. Shenzhen Branch
(Special Seal for Loan Contract Uses Only)

 

I (our Company) confirms that we have already
learned of and carefully read all contents of the TO MY DEAR CUSTOMERS, understand and accept the risks reminded by your
Bank. We will actively assist your Bank and supervise the conducts of your employees.

 

Signature/Seal of Customer

 

Icon Energy System (Shenzhen) Co., Ltd.
(Seal)

 

Pan Dangyu (Seal)

 

     

     

    

 

Working Capital Loan Contract

 

Contract No.: JK162619000053

 

Borrower: Icon Energy System (Shenzhen)
Co., Ltd.

 

Address: Room 201, No. 4, Guanqing Road,
Luhu Community, Guanhu Street, Longhua District, Shenzhen City

 

Lender: Bank of Jiangsu Co.,Ltd. Shenzhen
Branch

 

Address: 19-20/F, Nepstar Drugstore
Building, No. 2, Lanxiang First Street, Zhongxin Road, Nanshan District, Shenzhen City

 

In accordance with the relevant national
laws and regulations, both parties make and enter into this Contract upon consensus through consultation and are willing to abide
by all terms and conditions of this Contract.

 

Article 1 Loan contents

 

I. Loan amount: (currency) RMB (in
words) ten million Yuan only.

 

II. Loan term: from May 24, 2019 to
March 23, 2020.

 

III. Loan interest rate

 

1. The interest rate for RMB loan shall
be the following B:

 

A. The loan hereunder implements a fixed
interest rate. The executed annual interest rate shall be      /    % and the interest rate shall remain unchanged during the valid
term of this Contract;

 

B. The loan hereunder implements a floating
interest rate and the interest rate shall be 40% higher (higher/lower) than the benchmark interest rate 4.35%
for RMB loans issued by the People's Bank during the same period or be      /     (plus/minus)       /       BP (1 BP equals to 0.01
percentage point). The executed annual interest rate shall be 6.09%. The interest rate hereunder shall be adjusted by month
(month/quarter/half year/year) with the adjustment of the benchmark interest rate for RMB loans issued by the People's Bank during
the same period and such adjustment shall be made on the first day of each month.

 

2. The interest rate for foreign exchange
loans shall be the following        /     :

 

A. The loan hereunder implements a fixed
interest rate. The interest rate shall be      /    (in words) months      /     (LIBOR/HIBOR/SIBOR)+        /     %. The executed annual
interest rate shall be        /     % and the interest rate shall remain unchanged during the valid term of this Contract;

 

B. The loan hereunder implements a floating
interest rate and the interest rate shall be be        /       (in words) months        /       (LIBOR/HIBOR/SIBOR)+        /      %. The interest
rate hereunder shall be adjusted by        /       and such adjustment shall be made on        /     .

 

3. Interest calculation

 

The interest shall be calculated according
to the actual date of withdrawal by the Borrower and according to the actual amount withdrawn and the days of occupation of the
loan.

 

Formula for calculation of interest: interest
= principal ×actual number of days × daily interest rate.

 

The base for calculation of daily interest
rate shall be 360 days a year. The conversion formula is: daily interest rate = annual interest rate /360.

 

IV. Loan purpose shall be payment for
purchase (payment for)

 

V. Loan note

 

The loan note is the Borrower's loan voucher
under this Contract and an effective part of this Contract. It shall have the same legal effect as this Contract. if the amount,
date of payment, due date and interest rate of the Borrower's loan hereunder or other loan contents is different from that recorded
in the loan note, that recorded in the loan note shall prevail.

 

Article 2 Settlement of loan interest

 

1. The interest shall be calculated from
the date of the actual payment of the loan according to the actual amount paid and the actual loan term. The interest shall be
settled by month (month/quarter) and the expiry date for interest shall be the 20th day of each month (month/last
month of each quarter).

 

     

     

    

 

If the last repayment date of the principal
is not an expiry date for interest, the unpaid interest shall be paid with repayment of principal.

 

2. The Borrower shall pay interest on each
expiry date for interest. The Lender may deduct interest directly from the account opened by the Borrower with Bank of Jiangsu.
If the Borrower fails pay interest timely, the Lender shall have the right to charge compound interest form the unpaid interest.

 

Article 3 Default interest and compound
interest

 

If the loan hereunder is overdue or is
not used for the purpose agreed herein, interest and compound interest shall be calculated and collected according to the method
of the following B:

 

A. If the Borrower fails to repay in full
and on time the loan at maturity (including acceleration of maturity) where a fixed interest rate is executed, the Lender shall
have the right to charge a default interest according to / % plus the loan interest rate hereunder from the date of overdue;
if the Borrower fails to use the loan for the purpose agreed herein, the Lender shall have the right to charge a default interest
according to       /     % plus the loan interest rate hereunder from the date of misappropriation.

 

Compound interest shall be calculated and
collected for the interest (including default interest) paid by the Borrower after the deadline. Compound interest shall be calculated
and collected at the default interest rate after the loan is overdue.

 

B. If the Borrower fails to repay in full
and on time the loan at maturity (including acceleration of maturity) where a floating interest rate is executed, the Lender shall
have the right to charge a default interest according to 50% plus the floating interest rate executed in the current period
from the date of overdue; if the Borrower fails to use the loan for the purpose agreed herein, the Lender shall have the right
to charge a default interest according to 100% plus the floating interest rate executed in the current period from the date
of misappropriation.

 

Compound interest shall be calculated and
collected for the interest (including default interest) paid by the Borrower after the deadline. Compound interest shall be calculated
and collected at the default interest rate after the loan is overdue.

 

Article 4 Conditions for withdrawal

 

1. The Borrower may not withdraw the loan
until the following conditions are satisfied upon the effectiveness of this Contract (except as otherwise exempted by the Lender):

 

(1) The Borrower has opened relevant RMB
or/and foreign exchange accounts with the Lender or any branch of the Lender;

 

(2) The Borrower has provided the Lender
with the legal documents of proving the legitimacy of the Borrower, including but not limited to the business license passing the
latest annual inspection, approval certificate, joint venture or cooperation contract, and articles of association, etc.;

 

(3) The Borrower has submitted the Application
for Withdrawal and the Power of Attorney for Entrusted Payment to the Lender.

 

(4) The guarantee contract, and/or mortgage
contract and pledge contract in connection with the loan hereunder have become effective;

 

(5) All the procedures in connection with
this Contract and required by the Lender, including but not limited to approval, registration, filing, insurance, notarization
and witness, have been handled and completed;

 

(6) The Borrower has provided the Lender
with the capital verification report proving that the registered capital of the Borrower had been paid according to law;

 

(7) According to the provisions of the
Borrower's internal authorization system, the Borrower has provided the Lender with the resolution and authorization letter that
the Borrower's board of directors and/or the shareholders' meeting (shareholders' general meeting) and other competent authorities
had agreed the loan hereunder;

 

(8) The Borrower has provided the Lender
with the materials of proving the purpose of the loan hereunder;

 

(9) The Borrower has provided the Lender
with a loan note affixed with the valid seal of the Borrower;

 

(10) The Borrower has provided the Lender
with the loan cards (certificates) of the Borrower and the guarantor;

 

(11) Where the Lender thinks necessary,
the Borrower shall handle notarization with the force of enforcement for the loan contract, the guarantee contract and the mortgage
(pledge) contract;

 

     

     

    

 

(12) The Borrower or the guarantor has
paid all the relevant expenses payable hereunder; and

 

(13) Other conditions for withdrawal agreed
by both parties: blank below                                                                                               

 

 

 

 

Article 5 Withdrawal plan

 

1. When the preconditions for withdrawal
are all satisfied, the Borrower may withdraw the loan in a lump sum (in a lump sum/by installments). The withdrawal plan
is as follows:

 

Unit (ten thousand Yuan, ten thousand US
dollars or other) : ten thousand Yuan

 

	Withdrawal
	Period	 	Date of withdrawal	 	Amount withdrawn
	First period	 	May 24, 2019	 	1000
	Second period	 	 	 	 
	Third period	 	 	 	 

 

(Any table attached hereto where there
is insufficient space to fill shall be an integral part of this Contract.)

 

2. The Lender shall have the right to reject
the Borrower's application for withdrawal of the part not withdrawn and used within the time limit given above.

 

Article 6 Payment mode

 

I. The loan under this Contract shall be
paid according to the method of the following 1:

 

1. Entrusted payment. The Lender shall,
according to the Borrower's application for withdrawal and payment entrustment, pay the loan funds through the Borrower's account
to the Borrower's transaction object that meets the purpose stipulated herein.

 

2. Independent payment. The Lender shall,
according to the Borrower's application for withdrawal and payment entrustment, pay the loan funds to the Borrower's account before
the Borrower independently pays its transaction object that meets the purpose stipulated herein according to the plan determined
by the Borrower upon application. The Borrower shall submit a payment list to the Lender at the end of each quarter. The contents
of each payment list shall include but not be limited to name of the transaction object, amount and time of payment, and payment
causes, etc.

 

3. Partial entrusted payment Where a single
amount of the loan funds exceeds RMB / Yuan (if the amount is less than or equals to RMB ten million Yuan, the foreign exchange
loan shall be converted into the foreign exchange purchase price issued by the Borrower on the date of entrusted payment), the
single amount shall be paid under entrusted payment, and the remaining shall be paid under independent payment.

 

II. If the Borrower falls under any of
the following circumstances, the Lender shall have the right to supplement the loan payment conditions through consultation with
the Borrower; where consultation fails, the Lender shall have the right to stop the payment of the loan funds or ask the Borrower
to prepay the loan having been released;

 

1. Its credit status is declined;

 

2. The profitability of its main business
is not strong and breaks through the agreed financial indicators;

 

3. It fails to pay the loan funds according
to the stipulations of this Contract;

 

4. It violates this Contract and avoids
the entrusted payment by the Lender by means of breaking up the whole into parts;

 

     

     

    

 

 

5. It fails to comply with its commitments;

 

6. Other circumstances in violation of
this Contract.

 

Article 7 Repayment

 

I. The sources of repayment of the Borrower
include but are not limited to operating revenues.

 

II. Except as otherwise agreed by both
parties, the Borrower shall repay the loan hereunder according to the following repayment plan:

 

Unit (ten thousand Yuan, ten thousand US
dollars or other) : ten thousand Yuan

 

	Repayment
	Period	 	Date of repayment	 	Amount of repayment
	First period	 	Mar. 23, 2020	 	1000
	Second period	 	 	 	 
	Third period	 	 	 	 

 

(Any table attached hereto where there
is insufficient space to fill shall be an integral part of this Contract.)

 

III. If the date of repayment given above
is not a banking day, it shall be postponed to the next banking day. If the Borrower requires extending the payment term, it shall
submit a written application to the Lender one month in advance. Upon approval by the Lender, the payment term may be extended.

 

IV. If the Borrower desires to make repayment
in advance, it shall obtain the Lender's consent, implement the interest rate determined for the original term and pay    /   of
the amount repaid in advance as the fee.

 

V. The Borrower irrevocably authorizes
the Lender to deduct all the loan principal and interest due or due in advance from the account opened by the Borrower with any
system of Bank of Jiangsu. Where foreign exchange is deducted, it shall be converted at the foreign exchange purchase price issued
by the Lender on the date of deduction.

 

VI. The Buyer shall make repayment according
to the method of the following    / :

 

1. The Borrower shall open a special repayment
reserve account for the loan hereunder with the Lender. During the duration of the loan, the Borrower shall deposit the funds
recovered from the loan into this account and ensure that the balance in the account not less than (currency)    /  
(in words)    /   at any time. This account shall be subject to the Lender's supervision
and cannot be used for settlement. The Lender shall have the right to deduct and repay the loan principal and interest directly
from this account. If the balance in this account is insufficient, the Lender shall have the right to make deduction directly
from the Borrower's any account opened with any system of Bank of Jiangsu or claim from the Borrower or the guarantor.

 

2. The Borrower shall open a unit settlement
account with the Lender and deposit the cash flows of its routine revenues to this account according to the proportion of its total
credit amount granted by the Lender out of its total credit amount granted by all financial institutions. The balance in the account
not less than (currency)    /   (in words)  /   at any time. The Borrower shall deposit in this account a sufficient
amount for repaying the current loan principal and interest due prior to each date of repayment. The Borrower authorizes the Lender
to deduct and repay the loan principal and interest directly from this account.

 

Article 8 Representations and warranties
of the Borrower

 

1. The subject qualifications of the Borrower
comply with the requirements of relevant laws, administrative regulations and normative documents;

 

2. The Borrower has been fully authorized
to sign this Contract and other relevant documents and has the ability to perform and fulfill its responsibilities;

 

     

     

    

 

 

3. The signing and performance of the contract
and other relevant documents By the borrower shall not conflict with or violate any laws, regulations and normative documents,
nor constitute a breach of this Contract;

 

4. The Borrower currently has no pending
litigation, arbitration or administrative punishment, and no litigation, arbitration or administrative punishment filed against
its assets or earnings as known by the Borrower;

 

5. The Borrower shall cooperate with the
Lender to carry out loan payment management, post-loan management and relevant inspection;

 

6. The financial statements provided by
the Borrower give a true view on the financial conditions of the Borrower;

 

7. The Borrower that the application materials
provided by the Borrower to the Lender are true, lawful and valid, and there is no material omission or misleading;

 

8. The materials about the Borrower, the
guarantor, the mortgagor, the pledgor, the mortgaged (pledged) property and project in this Contract and the guarantee contract
are true, complete and accurate, and there is no omission of any important facts;

 

9. The Borrower irrevocably authorizes
Bank of Jiangsu Co.,Ltd. to inquire the Borrower's all kinds of information by various means from the date of signature of this
Contract to the date of termination of business hereunder. These means may include but not be limited to state administrative departments,
government departments, business management organizations, social third-party data platforms and network media. The Borrower is
aware of the possible legal consequences arising from the provision of such non-public information;

 

10. The Borrower has fully known the business
scope, authorizations and privileges of the Lender; the Borrower has read all the terms and conditions of this Contract and the
Lender has made explanation on relevant clauses of this Contract at the Borrower's request; the Borrower has complete and full
understanding of the meanings and corresponding legal consequences of the terms and conditions of this Contract; and the signature
of this Contract by the Borrower is the representation of the Borrower's true meaning.

 

Article 9 Rights and obligations of the
Borrower

 

I. Rights of the Borrower

 

1. The Borrower has the right to withdraw
and use the loan according to the stipulations of this Contract;

 

2. It has the right to transfer its debt
hereunder to a third party after obtaining the Lender's written consent.

 

II. Obligations of the Borrower

 

1. It shall truthfully provide the documents
and materials required by the Lender (including the account number of all bank accounts, balances of deposits and loans, use of
loan, conditions of assets, production and business activities, internal management and other true information);

 

2. It shall provide the financial statements
of the previous month before the 20th day of each month, and provide the Lender with the audited financial statements within 120
days after each fiscal year. It shall timely provide the Lender with the changes of itself;

 

3. It shall accept and cooperate with the
Lender to carry out survey, supervision and inspection on its use of credit funds, and its production, operation and financial
activities;

 

4. It shall open a settlement account with
Bank of Jiangsu Shenzhen Branch (Sub-branch), and handle domestic and foreign settlement, exchange settlement and sales, and other
intermediary business with the Lender or any branch of the Lender not lower than the proportion of the loan hereunder out of the
total loan balance in other financial institutions;

 

5. It shall use the loan according to the
purpose and means agreed herein;

 

6. It shall repay the loan principal and
interest on time and in full according to the stipulations of this Contract;

 

7. Prior to external investment, substantial
increase of debt financing, merger, division, equity transfer, asset transfer and other major events, it shall notify the Lender
in writing in advance and obtain the Lender's written consent, and implement guarantee measures for repayment of the loan principal
and interest and other relevant expenses hereunder;

 

8. The Lender shall be timely notified
if the Borrower or the guarantor has any significant adverse event affecting its solvency/security capability;

 

9. The total amount guaranteed for the
liabilities of a third party shall not exceed / times the net assets of the Borrower;

 

     

     

    

 

 

10. If the Borrower is a group customer,
it shall give a written report to the Lender within 10 days as of the date of occurrence of an affiliated transaction with the
target amount exceeding 10% of the Borrower's net assets. The contents of the report shall include but not be limited to the relations
between the transaction parties, the transaction project and nature, the transaction amount or proportion and the pricing basis
(including the transaction without an amount or with a symbolic amount only).

 

11. It shall ensure to cover insurance
for the loan-related property according to the requirements of the Lender and define the Lender as the beneficiary of the insurance
interest;

 

12. If this Contract is made enforceable
through notarization by a notary organ, the Borrower agrees to be enforced by the people's court and waives the right of defense.

 

Article 10 Rights and obligations of the
Lender

 

I. Rights of the Lender

 

1. The Lender has the right to ask the
Borrower to provide materials in connection with the loan hereunder;

 

2. It has the right to ask the Borrower
to repay the loan principal and interest on schedule or in advance;

 

3. It has the right to understand the Borrower's
production and operation, financial activities, business activities and repayment plan, and it has the right to extract or copy
from the Borrower's accounting books, business records and other relevant materials;

 

4. It has the right to supervise the Borrower
to use the loan according to the purpose and means agreed herein;

 

5. It has the right to deduct the loan
principal and interest due or due in advance and other relevant expenses from the Borrower's account;

 

6. If the Borrower fails to perform or
violates its various obligations agreed herein, the Lender shall have the right to change the loan payment mode, stop payment of
the loan not withdrawn by the Borrower and/or ask the borrower to repay the loan in advance and announce acceleration of maturity
of all the loan hereunder according to the stipulations of this Contract;

 

7. The Lender has the right to take back
the loan in advance according to the capital return of the Borrower;

 

8. If the Borrower has any such major events
as transfer of property right, institutional change, decrease of registered capital or transfer of creditor's right and debt, the
Lender shall have the right to ask the Borrower to repay the loan principal and interest hereunder in advance and pay all other
relevant expenses, or ask the Borrower to transfer its all debts hereunder to a transferee accepted by the Lender, or ask the Borrower
to provide other guarantee measures accepted by the Lender.

 

II. Obligations of the Lender

 

1. The Lender shall release the loan to
the Borrower according to the conditions specified in this Contract;

 

2. The Lender shall keep confidential the
financial conditions, and production and operation conditions of the Borrower, except as otherwise prescribed by laws, administrative
regulations and normative documents.

 

Article 11 Default events

 

I. During the valid term of this Contract,
any one of the following circumstances shall constitute a default event:

 

1. The Borrower fails to perform the representations,
warranties and obligations set forth in Article 8 and Article 9 hereof, including failure to pay the loan principal and interest
and other expenses payable hereunder on the date of maturity;

 

2. The Borrower fails to fully and promptly
perform its any obligations specified in this Contract and other relevant documents. If the Borrower's aforesaid behavior can be
corrected but the Borrower fails to correct it to the extent satisfied by the Lender within 20 days after the Lender sends a written
notice of correction;

 

3. The Borrower voluntarily or compulsively
goes out of business, winds up, reorganizes, dissolves or goes into bankruptcy;

 

4. The Borrower provides false materials
or conceals important business financial facts;

 

5. The Borrower breaks through the financial
indicators stipulated in Article 17 of this Contract;

 

6. The Borrower suffers from financial
loss or deterioration of financial conditions, which may affect the loan safety, or the Borrower intentionally evades or cancels
the creditor's rights of the Bank;

 

     

     

    

 

 

7. The Borrower's loan project plan is
canceled or cannot be implemented;

 

8. The Borrower fraudulently obtains funds
or credit from the Lender or other bank by use of a false contract with an affiliated party;

 

9. The Borrower engages in or suspected
of carrying out illegal business activities;

 

10. The Borrower goes into division, combination,
major merger, acquisition or reorganization;

 

11. The Borrower violates any other contract
signed with the Lender or a third party, or there is any dispute arising from such contract, thereby causing or likely to cause
litigation or arbitration;

 

12. The controlling shareholder of the
Borrower transfers its shares held in the Borrower, or the controlling shareholder, actual controller, legal representative or
other senior management person has major events, including but not limited to engaging in or suspected of conducting illegal activities,
or subject to litigation, arbitration or administrative punishment, going worse of its financial conditions, declaration of bankruptcy
or dissolution, and so on;

 

13. The guarantor has breach of contract,
including but not limited to provision of false materials by the guarantor, the guarantor's violation of other contract signed
with the Lender or a third party, litigation or arbitration caused due to any dispute arising from such contract, forced or active
suspension of business, major business failure, engaging in or suspected of conducting illegal activities, evasion or cancellation
of creditor's rights of the Bank, merger and/or acquisition or reorganization, or other situations which may reduce its guarantee
capability;

 

14. An event of default occurs under other
loan contract or guarantee contract made and entered into by and between the Borrower and the Lender;

 

15. Other circumstances which endanger
or may endanger the Lender's loan safety.

 

II. If the Borrower has any breach of contract,
the Lender shall take one or more of the following methods according to the nature and extent of the default event:

 

1. to require the Borrower to correct the
default event within a time limit and take remedial measures;

 

2. to change the payment mode of the loan
not withdrawn hereunder;

 

3. to stop the Borrower from continuing
to withdraw funds, cancel the amount of the loan not withdrawn, announce acceleration of maturity of the loan principal and interest
hereunder, and take back the loan immediately;

 

4. to announce acceleration of maturity
of the principal and interest of all the loans under other loan contracts made and entered into by and between the Borrower and
the Lender, and take back all the loans immediately;

 

5. to freeze the Borrower's deposits in
part or in all, make deduction from the Borrower's deposit account to repay the loan principal and interest and pay relevant expenses
hereunder; the Borrower agrees and authorizes the Lender to purchase foreign exchange to repay the principal and interest of the
foreign exchange loan;

 

6. to demand the guarantor's liability
for guarantee or dispose the mortgaged (pledged) property;

 

7. to bring a lawsuit in a court to claim
the loan principal and interest, expenses and other losses from the Borrower and the guarantor through judicial proceedings;

 

8. If this Contract is made enforceable
through notarization by a notary organ, the Lender may apply to the people's court for enforcement.

 

Article 20 Expenses

 

1. The expenses incurred in connection
with the execution of this Contract, including but not limited to the expenses of credit investigation, notarization, testimony
and registration, shall be borne by the parties respectively in accordance with laws or agreements;

 

2. The expenses of the Lender for urging
the Borrower to repay the loan principal and interest after the Borrower fails to repay the loan principal and interest on time,
including but not limited to announcement fee, service fee, appraisal fee, attorney fee, legal cost, traveling expenses, evaluation
fee, auction fee, property preservation fee and enforcement cost, shall be borne by the Borrower.

 

Article 13 Debt transfer

 

1. Without the Lender's written consent,
the Borrower shall not transfer its any rights and obligations under this Contract to any third party.

 

     

     

    

 

 

2. If the Borrower transfers its any rights
and obligations under this Contract to a third party upon the Lender's written consent, the third party shall unconditionally abide
by all the terms and conditions of this Contract.

 

Article 14 Change and cancellation of contract,
and exercising of rights

 

1. This Contract may be changed or canceled
in written form upon consensus through consultation.

 

2. During the valid period of this Contract,
the Lender’s tolerance or grace imposed on or the Lender’s delay in the exercising of its any right hereunder for the
Borrower’s breach or delay shall not damage, impact or restrict all the other rights enjoyable by the Lender as a creditor
in accordance with this Contract and relevant laws, administrative regulations and normative documents, and shall not be deemed
as the Lender’s permit or acceptance of any breach of this Contract nor be deemed as a waiver of such right by the Lender
to take actions for the Borrower's current or future breach of contract;

 

3. If any provision of this Contract becomes
invalid or partially invalid for any reason, the Borrower shall continue to perform the responsibility of repayment. In the event
of any such circumstance, the Lender shall have the right to terminate this Contract and may immediately claim the loan principal
and interest hereunder and other relevant expenses from the Borrower;

 

4. In case of any change of the Borrower's
domicile, mailing address, telephone number, business scope and legal representative, the Lender shall ensure to notify the Lender
in written form within 10 days after the change of relevant items. If the Borrower fails to perform the obligation of notification
mentioned above, the relevant notices and documents sent by the Lender to the original mailing address of the Borrower shall be
deemed as being served to the Borrower;

 

5. Any and all notices and documents between
both parties hereto and in connection with the execution of this Contract shall be given in written form.

 

Article 15 The Borrower agrees that the
creditor's right hereunder is made enforceable through notarization of this Contract. In the event that the Borrower fails to perform
all or part of its obligations specified herein, the Lender may apply to the competent people's court for enforcement.

 

Article 16 Applicable laws and dispute
settlement

 

The formation, validity, interpretation,
execution and settlement of disputes in respect of this Contract shall be governed by the relevant laws of the People's Republic
of China. In case of any dispute during the execution of this Contract, the dispute shall be settled by both parties through consultation
or mediation; where consultation or mediation fails, the dispute may be settled according to the method specified in the following
B:

 

A. to file a lawsuit in the people's court
at the location where the Lender is located;

 

B. to apply to Shenzhen Arbitration
Commission for arbitration.

 

Article 17 Other matters agreed by both
parties:

 

1. The loan under this Contract is the
specific credit within the credit line in the Maximum Comprehensive Credit Contract of No. SX162618000785, to which
this Contract is an effective annex.

 

2. The loan interest and other expenses,
other than the loan principal hereunder, shall be tax inclusive.

 

3. Agreement on the Borrower's financial
indicators: blank below

 

4. Blank below                                                                                                                                                                                                     

                                                                                                                                                                                                                              

 

Matters not provided herein shall be interpreted
or handled in accordance with relevant laws, administrative regulations and normative documents, and relevant stipulations of Bank
of Jiangsu.

 

Article 18 Validity and invalidity of contract

 

1. This Contract shall come into force
when it is signed by the legal representatives or authorized representatives of both parties and affixed with the official seals
of both parties.

 

2. This Contract shall become null and
void when the Borrower has paid all the loan principal and interest hereunder and all other expenses.

 

Article 19 This Contract is made out in
three originals, for the Lender, the Borrower and the Lender, / / each holding one, which shall be equally authentic.

 

     

     

    

 

 

	Borrower (Official Seal):	Lender (Official Seal):
	 	 
	Icon Energy System (Shenzhen)	Bank of Jiangsu Co., Ltd. Shenzhen Branch Co., Ltd. (Seal)
	 	(Special Seal for Loan Contract Uses Only)
	 	 
	Legal Representative or	Legal Representative or
	Authorized Representative (Signature/Seal):	Authorized Representative (Signature/Seal):
	 	 
	 	Pan Dangyu (Seal)

 

Date of Signature: April 30, 2019

 

	Signatory
	 	 

 

     

     

    

 

 

Letter of Confirmation of Service Address

 

Bank of Jiangsu Co.,Ltd.:

 

As
þI (our Company)
/ ̈debtor     /  
applied to your Bank for a credit, I (our Company) and your Bank made and entered into the Working Capital Loan Contract
of No. JK162619000053. In order to ensure the service of your Bank's notices and the court's relevant litigation documents
prior to full repayment of the credit, I (our Company) hereby confirm as follows:

 

1. The address given in the following table
is our effective service address:

 

	Address	 	Room 201, No. 4, Guanqing Road, Luhu Community, Guanhu Street, Longhua District, Shenzhen City	 	Zip Code	 	518000

 

2. I (our Company) hereby designate the
following persons as the recipients (i.e., designated recipient) of your Bank's notices and the court's litigation documents, including:
(1) I, my relatives, the property management personnel of the community and office building where the above service address is
located, shall be applicable to the situations where the person served is an individual; (2) our Company, and shareholders and
staff of our Company, the property management personnel and security guards of the community and office building where the above
service address is located, shall be applicable to the situations where the person served is a unit.

 

3. Scope of application of the service
address and designated recipient mentioned in the preceding paragraph: applicable to the service of the notices prescribed in laws
and specified in the contracts, agreements, warranties, letters of commitment and other documents between your Bank and I (our
Company), applicable to the service of the litigation documents in the first instance, second instance, executive and special procedures
of civil procedures after your Bank institutes legal proceedings against I (our Company).

 

4. Notification procedures for change of
service address or designated recipient: if the service address or designated recipient given above is changed, I (our Company)
shall, 10 working days prior to such change, notify your Bank in writing and give your Bank a new Letter of Confirmation of
Service Address.

 

5. Agreement on legal consequences: if
your Bank's notice or the court's litigation document fails to be actually received because the aforesaid service address I (our
Company) provided or confirmed is not correct, or I (our Company) failed to timely notify your Bank and the court according to
the aforesaid procedures after the change of the aforesaid service address, or I (our Company) or the designated recipient refuses
to sign for any reason, if sent by post, it shall be deemed as having been served as of the date when your Bank's notice or the
court's litigation document is sent back; if sent by direct service, your Bank's notice shall be deemed as having been served as
of the date when it s marked by the staff of your Bank, and the court's litigation document shall be deemed as having been served
as of the date when it is marked on the receipt of service of the court by the server of the court.

 

This Letter of Confirmation is an annex
to the Contract above mentioned. If the service mode agreed in the above-mentioned Contract is different from that confirmed in
this Letter of Confirmation, that given in this Letter of Confirmation shall prevail. If the Contract above mentioned is applicable
to arbitration, this Letter of Confirmation shall also apply to the service of arbitration documents.

 

	Issued by an individual	Signature:
	 	 
	 	Date:

 

	Issued by an entity	Seal: Icon Energy System (Shenzhen) Co., Ltd. (Seal)
	 	 
	 	Signature/Seal of Legal Representative or Authorized Representative:
	 	 
	 	Apr. 30, 2019
	 	 
	 	Pan Dangyu (Seal)

 

In case of any service quality problem,
please dial the supervision number: *.

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