Document:

best_Ex4_21

		
			Exhibit 4.21
		

		
			This is an English translation of the original Chinese text
		

		
			 
		

		
			Wei Chen
		

		
			Lili He
		

		
			BEST Logistics Technologies (China) Co., Ltd.
		

		
			AND
		

		
			Hangzhou Baisheng Investment Management Co., Ltd.
		

		
			 
		

		
			 
		

		
			 
		

		
			EQUITY PLEDGE AGREEMENT
		

		
			FOR
		

		
			HANGZHOU BAISHENG INVESTMENT 
		

		
			MANAGEMENT CO., LTD.
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			Oct  23, 2019
		

		
			 
		

		
			
		

		
			

		 

		

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			EQUITY PLEDGE AGREEMENT
		

		
			 
		

		
			This Equity Pledge Agreement (this “Agreement”) is entered into as of Oct  23, 2019  in Hangzhou, Zhejiang Province, the People’s Republic of China by and among the following Parties:
		

		
			 
		

			
	
			
				 1.
			

			
	
			
			Wei Chen
Address: 105 Wenhua Road, Changguo Sub-district, Dinghai District, Zhoushan, Zhejiang
ID No.:

			
	
			
				 2.
			

			
	
			
			Lili He
Address:  1 Weiye Road, Binjiang District, Hangzhou    
ID No.:

		
			(Wei Chen and Lili He shall hereinafter be referred to individually as a “Pledgor”, or collectively as the “Pledgors”);
		

			
	
			
				 3.
			

			
	
			
			BEST Logistics Technologies (China) Co., Ltd.   (the “Pledgee”)        Registered address: Room 2310,  23/F, 588 Jiangnan Avenue, Binjiang District, Hangzhou    Legal representative: Shao-Ning Johnny Chou

			
	
			
				 4.
			

			
	
			
			Hangzhou Baisheng  Investment Management Co., Ltd. (the “Company”)     Registered address: Room 525, Building No. 6, 1197 Bin’an Road, Binjiang District, Hangzhou
Legal representative: Wei Chen

		
			 
		

		
			 (In this Agreement, each of aforesaid parties shall be referred to individually as a “Party” or collectively as the “Parties”.)
		

		
			 
		

		
			WHEREAS:
		

		
			 
		

			
	
			
				 1.
			

			
	
			
			Pledgors are the registered shareholders of the Company and own all the equity of the Company in accordance with law (the “Company Equity”).  Their respective capital contributions to and ownership percentages in the Registered Capital of the Company as of the date hereof are set forth in Schedule 1.

		
			 
		

			
	
			
				 2.
			

			
	
			
			Pursuant to the Exclusive Call Option Agreement entered into by the Parties hereto and Best Logistics Technologies Limited  (a company established and existing pursuant to the laws of Cayman Islands, the “Cayman Company”) as of Oct  23, 2019 (the “Option Agreement”), the Pledgors shall, to the extent permitted by the PRC Laws, transfer at the Pledgee’s request all or part of their equity interest in the Company to the Pledgee and/or any other entities or individuals designated by the Pledgee.

		
			 
		

			
	
			
				 3.
			

			
	
			
			Pursuant to the Shareholders’ Voting Rights Proxy Agreement entered into by the Parties hereto and the Cayman Company as of Oct  23, 2019 (the “Voting Rights Proxy Agreement”), the Pledgors have irrevocably granted a general proxy to the then designee of the Pledgee as approved by the Cayman Company to exercise on behalf of the Pledgors all of their shareholder voting rights at the Company.

		
			 
		

			
	
			
				 4.
			

			
	
			
			Pursuant to the Exclusive Services Agreement entered into by the Company and the Pledgee as of Oct 23, 2019  (the “Services Agreement”), the Company shall on an exclusive basis engage the Pledgee to provide it with relevant technical services and agrees to pay corresponding service fees to the Pledgee for such technical services.

		
			 
		

			
	
			
				 5.
			

			
	
			
			Pursuant to the Loan Agreement entered into by the Pledgee, Wei Chen and Lili He on October 23, 2019 (the “Loan Agreement”), Wei Chen and Lili He acknowledge that the loan from the Pledgee shall be applied towards the purchase of equity interests in the Company and the capital increase of the Company.

		
			 
		

			
	
			
				 6.
			

			
	
			
			As collateral for the Pledgor’s performance of the Contractual Obligations (as defined below) and their satisfaction of the Secured Indebtedness (as defined below), the Pledgors have agreed to pledge with the Pledgee all of the Company Equity held by them and grant a first ranking pledge to the Pledgee, and the Company has agreed to such equity pledge arrangement.

		
			
		

		
			

		 

		

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			NOW, THEREFORE, upon mutual consultations, the Parties agree as follows:
		

		
			 
		

		
			Section 1           Definitions
		

		
			 
		

		
			1.1     Unless otherwise required by the context, the terms below shall have the following meanings under this Agreement:
		

		
			 
		

		
			“Contractual Obligations” means all contractual obligations of the Pledgors or the Company under the Transaction Documents.
		

		
			 
		

		
			“Secured Indebtedness” means all direct, indirect and derivative losses and loss of anticipatable benefits suffered by the Pledgee as a result of any Event of Default (as defined below) on the part of the Pledgors and/or the Company, the basis of the amount of which losses shall include without limitation reasonable business plans and profit forecasts of the Pledgee, service fees payable by the Pledgors under the Services Agreement, and all expenses incurred by the Pledgee in connection with the enforcement for the Pledgors’ and/or the Company’s performance of their Contractual Obligations; The amount of such losses shall, to the extent permitted by the PRC Laws, be determined by the Pledgee at its sole discretion, which determination shall be binding on the Pledgors.
		

		
			 
		

		
			“Transaction Documents” mean the Option Agreement, the Voting Rights Proxy Agreement, the Services Agreement and the Loan Agreements.
		

		
			 
		

		
			“Event of Default” means the breach by any Pledgor or the Company of any of its Contractual Obligations under the Transaction Documents;   any representations and warranties or other information provided by the Pledgors and the Company to the Pledgee under the Transaction Documents being or being found untrue or misleading in any material aspect; or any provision of the Transaction Documents becoming invalid or unenforceable due to changes in the PRC laws and regulations, promulgation of new PRC laws and regulations or any other reasons, with no alternative arrangement being reached by the Parties.
		

		
			 
		

		
			“Pledged Equity Interests” means all of the Company Equity lawfully owned by the Pledgors as of effectiveness of this Agreement to be pledged to the Pledgee in accordance the terms hereof (details on the respective Pledged Equity Interests of each Pledgor are set forth under Schedule 1) as security for the performance of the Contractual Obligations by the Pledgors and the Company, as well as the capital increases and dividends referenced in Sections 2.6 and 2.7 hereof.
		

		
			 
		

		
			“PRC Laws” means the laws, administrative regulations, administrative rules, local regulations, judicial interpretations and any other binding normative documents then in effect of the People’s Republic of China.
		

		
			 
		

		
			1.2                    In this Agreement, reference to any PRC Laws shall be deemed to also include (1) a reference to such PRC Laws as modified, amended, supplemented or reenacted, effective either before or after the date hereof; and (2) a reference to any other decisions, circulars or rules made in accordance therewith or effective as a result thereof.
		

		
			 
		

		
			1.3      Unless otherwise provided in the context hereunder, reference to all articles, sections, paragraphs and clauses means the corresponding articles, sections, paragraphs and clauses of this Agreement.
		

		
			 
		

		
			Section 2    Pledge of Equity Interests
		

		
			 
		

		
			2.1       As security for the satisfaction of the Secured Indebtedness, the Pledgors hereby agree to pledge to the Pledgee in accordance with this Agreement the Pledged Equity Interests, being equity interests, which are lawfully owned by them and which they have the right to dispose of. The Company hereby agrees to the pledging by the Pledgors of said Pledged Equity Interests to the Pledgee pursuant to this Agreement.
		

		
			 
		

		
			
		

		
			

		 

		

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			2.2     The Pledgors covenant to assume the responsibility of recording the equity interests pledge arrangement under this Agreement (the “Equity Interests Pledge”) in the shareholder register of the Company on the date hereof.  The Pledgors further covenant to use their best efforts and take all necessary measures to complete as soon as possible the pledge registration with the relevant administration of industry and commerce in connection with the Equity Interests Pledge hereunder.
		

		
			 
		

		
			2.3     During the term of this Agreement, the Pledgee shall not be held liable for any decrease in the value of the Pledged Equity Interests, and the Pledgors shall have no right to seek recourse in whatever form or make any demand against the Pledgee for such decrease, unless such decrease arises as a result of the Pledgee’s willful misconduct or of the Pledgee’s gross negligence which has a direct causal link with the result.
		

		
			 
		

		
			2.4     Subject to Section 2.3, if there is any likelihood of a manifest decrease in the value of the Pledged Equity Interests sufficient to prejudice the rights of the Pledgee, the Pledgee may at any time dispose of the Pledged Equity Interest on behalf of the Pledgors through an auction or sale and will, depending on the agreement with the Pledgors, either apply such auction or sale proceeds towards early repayment of the Secured Indebtedness or deposit such proceeds with the notary office at the Pledgee’s location( with all expenses arising from such deposit to be assumed by the Pledgors). In addition, at the request of the Pledgee, the Pledgors shall also provide other assets as security for the Secured Indebtedness.
		

		
			 
		

		
			2.5     Upon the occurrence of any Event of Default, the Pledgee shall have the right to dispose of the Pledged Equity Interests by means of the methods specified under Section 4 hereof.
		

		
			 
		

		
			2.6     The Pledgors may effect a capital increase of the Company solely upon prior  consent of the Pledgee.  Any increase in its capital contribution to the registered capital of the Company as a result of a capital increase of the Company shall also constitute part of the Pledged Equity Interests and relevant equity pledge registration procedures shall be handled as soon as possible.
		

		
			 
		

		
			2.7      The Pledgors may receive any dividend or bonus in respect of the Pledged Equity Interests  solely upon prior written consent of the Pledgee. Any dividend or bonus received by the Pledgors in respect of the Pledged Equity Interests shall be deposited into an account designated by the Pledgee, shall be subject to the supervision of the Pledgee and shall first be applied towards repayment of the Secured Indebtedness.
		

		
			 
		

		
			2.8     Upon the occurrence of any Event of Default, the Pledgee shall have the right to dispose of any Pledged Equity Interest of any Pledgor pursuant to the provisions of this Agreement.
		

		
			 
		

		
			Section 3    Release of Pledge
		

		
			 
		

		
			3.1     Upon full and complete performance of all Contractual Obligations and repayment of all Secured Indebtedness by the Pledgors and the Company, the Pledgee shall, at the request of the Pledgors, release the Equity Interests Pledge hereunder as soon as reasonably practical, and shall cooperate with the Pledgors to deregister the Equity Interests Pledge in the shareholder register of the Company and deregister the pledge with the relevant administration of industry and commerce; reasonable expenses incurred in connection with such release of the Equity Interests Pledge shall be assumed by the Pledgee.
		

		
			 
		

		
			Section 4    Disposal of the Pledged Equity Interests
		

		
			 
		

		
			4.1     The Parties hereby agree that upon the occurrence of any Event of Default the Pledgee shall have the right to exercise, upon written notice to the Pledgors, all default remedy rights and powers available to it under the PRC Laws, the Transaction Documents and this Agreement, including without limitation:
		

		
			 
		

		
			4.1.1        To the extent permitted by the PRC Laws, at the Pledgee’s request, the Pledgors shall transfer,  without prejudice to the Option Agreement, all or part of the Pledged Equity Interests held by the Pledgors in the Company to the Pledgee and/or any other entities or individuals designated by it  at the price specified under the Option Agreement;
		

		
			 
		

		
			
		

		
			

		 

		

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			4.1.2        Without prejudice to the Transaction Documents, the Pledged Equity Interests shall be disposed of through an auction or discount sale, and the disposal proceeds shall be applied on a priority basis in favour of the Pledgee;
		

		
			 
		

		
			4.1.3        Subject to compliance with the PRC Laws, the Pledged Equity Interests shall be disposed of by means of such other method as may be agreed upon by the Pledgors and the Pledgee.
		

		
			 
		

		
			The Pledgee shall not be held liable for any losses arising from its reasonable exercise of its such rights or powers.
		

		
			 
		

		
			4.2     The Pledgee shall have the right to appoint in writing an attorney or any other agent who shall exercise on its behalf any and all of its aforesaid rights and powers; and the Pledgors or the Company shall raise no objection thereto.
		

		
			 
		

		
			4.3     The Pledgee shall have the right to truthfully deduct any reasonable expenses incurred by it in connection with the exercise of any or all aforesaid rights and powers from the proceeds received as a result of its exercise of the rights and powers.
		

		
			 
		

		
			4.4     The proceeds received by the Pledgee as a result of its exercise of its rights and powers shall be applied in the following order:
		

		
			 
		

			
	
			
				 1.
			

			
	
			
			to pay all expenses incurred in connection with the disposal of the Pledged Equity Interests and the Pledgee’s  exercise of its rights and powers (including the fees of the attorney and agent(s) of the Pledgee);

		
			 
		

			
	
			
				 2.
			

			
	
			
			to pay all taxes payable due to the disposal of the Pledged Equity Interests; and

		
			 
		

			
	
			
				 3.
			

			
	
			
			to repay the Secured Indebtedness to the Pledgee.

		
			 
		

		
			Any balance after the above deductions shall be returned by the Pledgee to the Pledgors or any other person entitled to it in accordance with relevant laws and regulations, or shall be deposited with the notary office at the Pledgee’s location( with all expenses incurred as a result of such deposit to be assumed by the Pledgee).
		

		
			 
		

		
			4.5     The Pledgee may at its option exercise any of its default remedy rights and powers either concurrently or successively; the Pledgee shall not be required to pursue other default remedies before it exercises the right to auction or sell the Pledged Equity Interest.
		

		
			 
		

		
			Section 5    Costs and Expenses
		

		
			 
		

		
			5.1           All actual costs in connection with the creation of the Equity Interests Pledge under this Agreement, including without limitation stamp duties, any other taxes and all legal fees, shall be borne by each Party respectively.
		

		
			 
		

		
			Section 6    Continuing Guaranty; No Waiver
		

		
			 
		

		
			6.1           The Equity Interests Pledge created under this Agreement shall constitute a continuing security and shall remain valid until the Contractual Obligations are fully performed or the Secured Indebtedness is fully satisfied. No waiver or grace period granted by the Pledgee with respect to a breach and no delay of Pledgee in exercising any of its rights under the Transaction Documents or this Agreement shall affect any right of the Pledgee to require, under this Agreement, the PRC Laws or the Transaction Documents, strict performance on the part of the Pledgors of the Transaction Documents or this Agreement  at any time thereafter, or any right available to the Pledgee as a result of the Pledgors’ subsequent   breach of the Transaction Documents and/or this Agreement.
		

		
			
		

		
			

		 

		

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			Section 7    Representations and Warranties of Pledgors
		

		
			 
		

		
			The Pledgors each represent and warrant to the Pledgee that:
		

		
			 
		

		
			7.1                 The Pledgors are PRC citizens with full capacity or limited liability companies duly registered and validly existing under the PRC Laws with independent legal personality,  and have legal rights and powers to enter into this Agreement and bear legal obligations thereunder.
		

		
			 
		

		
			7.2                 All reports, documents and information provided by the Pledgors to the Pledgee prior to the effective date hereof regarding the Pledgors and all matters prescribed under this Agreement are in all material aspects true,  accurate and complete as of the effective date hereof.
		

		
			 
		

		
			7.3                 All reports, documents and information provided by the Pledgors to the Pledgee subsequent to the effective date hereof regarding the Pledgors and all matters prescribed under this Agreement are in all material aspects true,  accurate and complete when they are provided.
		

		
			 
		

		
			7.4                 As of the effective date hereof, the Pledgors are the sole and legal owner of the Pledged Equity Interests, and there are no currently existing dispute on the ownership of the Pledged Equity Interests. The Pledgors have the right to dispose of any and all of such Pledged Equity Interests.
		

		
			 
		

		
			7.5                 Other than the security interests created hereunder and the rights created under the Transaction Documents, the Pledged Equity Interest has no other security interests or third party interests or any other restrictions.
		

		
			 
		

		
			7.6                 The Pledged Equity Interests may be lawfully pledged and transferred, and the Pledgors have full rights and powers to pledge the Pledged Equity Interests to the Pledgee in accordance herewith.
		

		
			 
		

		
			7.7                 This Agreement, once duly executed by the Pledgors, will constitutes their legal, valid and binding obligations .
		

		
			 
		

		
			7.8                 All consents, permissions, waivers, authorizations from any third party or any approvals, licenses, waivers from or registrations or filings with any government authority (if required in accordance with laws) necessary for the execution and performance of this Agreement and the Equity Interests Pledge hereunder have been obtained or  completed (except the pledge registration with the administration of industry and commerce, which will be handled as soon as reasonably possible following the execution of this Agreement) and will remain fully valid during the term of this Agreement.
		

		
			 
		

		
			7.9                 The Pledgors’ execution and performance of this Agreement does not violate or contravene  any applicable laws,  any agreements to which they are a party or which are binding upon their assets, any court judgments, any rulings of arbitration agencies, or any decisions of any administrative authorities.
		

		
			 
		

		
			7.10          The pledge hereunder shall constitute the first ranking security interest upon the Pledged Equity Interests.
		

		
			 
		

		
			7.11          All taxes and costs payable for the acquisition of the Pledged Equity Interests have been fully paid by the Pledgors.
		

		
			 
		

		
			7.12          There are no suits, legal proceedings or claims pending or, to the Pledgors’ knowledge, threatened against the Pledgors or their assets or the Pledged Equity Interests, either before any court or arbitration tribunal, or before any government departments or administrative authorities, which may have a material or adverse effect on the Pledgors’ economic conditions or their ability to perform the obligations under this Agreement or the guaranty obligations.
		

		
			 
		

		
			7.13          The Pledgors hereby warrant to the Pledgee that above representations and warranties will remain true, accurate and complete and will be fully complied with at any time and under any circumstances until all Contractual Obligations are fully performed or the Secured Indebtedness are fully repaid.
		

		
			
		

		
			

		 

		

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			Section 8    Representations and Warranties of the Company
		

		
			 
		

		
			The Company represents and warrants to the Pledgee as follows:
		

		
			 
		

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

		
			 
		

		
			8.2     All reports, documents and information provided by the Company to the Pledgee prior to the effective date hereof regarding the Pledged Equity Interests and all matters prescribed under this Agreement are in all material aspects true,  accurate and complete as of the effective date hereof.
		

		
			 
		

		
			8.3     All reports, documents and information provided subsequent to the effective date hereof by the Company to the Pledgee regarding the Pledged Equity Interests and all matters prescribed under this Agreement are in all material aspects true,  accurate and complete when they are provided.
		

		
			 
		

		
			8.4     This Agreement, once duly executed by the Company, will constitute its legal, valid and binding obligations.
		

		
			 
		

		
			8.5     It has full internal corporate power and authority to execute and deliver this Agreement and all other documents to be entered into by it in connection with the transactions contemplated hereunder, and has full power and authority to consummate the transaction contemplated hereunder.
		

		
			 
		

		
			8.6      There are no suits, legal proceedings or claims pending or, to the Company’s knowledge, threatened against the Pledged Equity Interests, the Company or its assets, either before any court or arbitration tribunal, or before any government departments or administrative authorities, which may have a material or adverse effect on the Company’s  economic conditions or the Pledgors’ ability to perform the obligations under this Agreement or their guaranty obligations.
		

		
			 
		

		
			8.7     The Company agrees to be held severally and jointly liable to the Pledgee for the representations and warranties made by the Pledgors under Sections 7.4, 7.5, 7.6, 7.8 and 7.10 of this Agreement.
		

		
			 
		

		
			8.8     The Company warrants to the Pledgee that above representations and warranties will remain true, accurate and complete and will be fully complied with at any time and under any circumstances until all Contractual Obligations are fully performed or the Secured Indebtedness are fully repaid.
		

		
			 
		

		
			Section 9    Covenants of the Pledgors
		

		
			 
		

		
			The Pledgors each covenant to the Pledgee as follows:
		

		
			 
		

		
			9.1     Unless otherwise specified under the Option Agreement, without the Pledgee’s  prior written consent, the Pledgors will not create or permit to be created any new pledge or any other security interests upon the Pledged Security Interests, and any pledge or security interests upon all or part of the Pledged Security Interests created without the Pledgee’s prior written consent shall be null and void.
		

		
			 
		

		
			9.2     Without prior written notice to and prior written consent from the Pledgee, the Pledgors may not sell, transfer or dispose of the Pledged Equity Interests and any purported sale, transfer or disposal by the Pledgors of the Pledged Equity Interests shall be null and void. The proceeds from the sale, transfer or disposal by the Pledgors of the Pledged Equity Interests shall first be applied towards repaying the Secured Indebtedness to the Pledgee or shall be deposited with a third party agreed upon with the Pledgee.
		

		
			 
		

		
			9.3     If  there occurs any lawsuit, arbitration or claim that may have an adverse effect on the interests of the Pledgors or the Pledgee under the Transaction Documents and this Agreement or on the Pledged Equity Interests, the Pledgors warrant that they shall notify the Pledgee in writing as expeditiously as possible  and in a  timely manner and shall, at the reasonable request of the Pledgee, take all measures necessary to ensure the pledgee rights and interests of the Pledgee to and in the Pledged Equity Interests.
		

		
			 
		

		
			9.4     The Pledgors covenant to complete all registration procedures necessary to extend the business term of the Company within three months prior to the expiry of the Company’s business term such that this Agreement will remain effective.
		

		
			
		

		
			

		 

		

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			9.5     The Pledgors may not do or permit to be done any acts or actions likely to have an adverse effect on the interests of the Pledgee under the Transaction Documents and this Agreement or on the Pledged Equity Interests. The Pledgors will waive their rights of first purchase in the event the Pledgee realizes the pledge.
		

		
			 
		

		
			9.6     The Pledgors warrant that they will take at the Pledgee’s reasonable request all measures and execute all documents (including without limitation any supplementary agreements hereto) necessary to ensure the pledgee rights and interests of the Pledgee on the Pledged Equity Interests and the exercise and realization of such rights.
		

		
			 
		

		
			9.7     If any transfer of the Pledged Equity Interests arises out of the exercise of the pledge hereunder, the Pledgors warrant that they will take all measures to effect such transfer.
		

		
			 
		

		
			9.8     The Pledgors shall ensure that the convening procedures, voting methods and contents of the shareholders’ meetings and the board meetings of the Company convened for the purpose of the execution of this Agreement, the creation of the pledge and the exercise of the pledgee rights will not breach any laws, administrative regulations, the articles of association of the Company or the Transaction Documents.
		

		
			 
		

		
			Section 10    Covenants of the Company
		

		
			 
		

		
			10.1    If any consents, permissions, waivers, authorizations from any third party or any approvals, licenses, waivers from or registrations or filings with any government authority (if required in accordance with laws) are necessary for the execution and performance of this Agreement and the Equity Interests Pledge hereunder, the Company will use its best efforts to assist in obtaining the same and maintaining their full validity during the term of this Agreement.
		

		
			 
		

		
			10.2    Without the Pledgee’s prior written consent, the Company will not assist or permit the Pledgors to create any new pledge or any other security interests upon the Pledged Security Interests.
		

		
			 
		

		
			10.3     Without the Pledgee’s prior written consent, the Company will not assist or permit the Pledgors to transfer the Pledged Equity Interests.
		

		
			 
		

		
			10.4     If  there occurs any lawsuit, arbitration or claim that may have an adverse effect on Company, the Pledged Equity Interests, or the Pledgee’s interests under the Transaction Documents and this Agreement, the Company warrants that it shall notify the Pledgee in writing as expeditiously as possible  and in a  timely manner and shall, at the reasonable request of the Pledgee, take all measures necessary to ensure the pledgee rights and interests of the Pledgee to and in the Pledged Equity Interests
		

		
			 
		

		
			10.5    The Company covenants to complete all registration procedures necessary to extend its business term within three months prior to the expiry of such term, so that this Agreement will remain effective.
		

		
			 
		

		
			10.6     The Company may not do or permit to be done any acts or actions likely to have an adverse effect on the interests of the Pledgee under the Transaction Documents and this Agreement or on the Pledged Equity Interests.
		

		
			 
		

		
			10.7     The Pledgors will within the first month of each calendar quarter provide the Pledgee with the quarterly financial statements of the Company of the preceding quarter, including without limitation the balance sheet, the income statement and the cash flow statement.
		

		
			 
		

		
			10.8     The Company warrants that it will take at the Pledgee’s reasonable request all measures and execute all documents (including without limitation any supplementary agreements hereto) necessary to ensure the pledgee rights and interests of the Pledgee on the Pledged Equity Interests and the exercise and realization of such rights
		

		
			 
		

		
			10.9     If any transfer of the Pledged Equity Interests arises out of the exercise of the pledge hereunder, the Company warrant to take all measures to effect such transfer.
		

		
			
		

		
			

		 

		

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			Section 11    Change of Circumstances
		

		
			 
		

		
			11.1     To the extent not inconsistent with the Transaction Documents and the other provisions of this Agreement, if, at any time, due to  an enactment of or changes to any PRC Laws, regulations or rules, or changes to any interpretation or application of such laws, regulations or rules, or changes to applicable registration procedures,  maintaining the effectiveness of this Agreement and/or disposing of the Pledged Equity Interests by means of the methods specified under this Agreement becomes, in the opinion of the Pledgee, illegal or conflicts with such laws, regulations or rules, then  the Pledgors and the Company shall on the written instruction of the Pledgee immediately take any action and/or execute any agreement or other document in accordance with the reasonable requirements of the Pledgee so as to:
		

		
			 
		

		
			(1)   maintain the effectiveness of this Agreement;
		

		
			 
		

		
			(2)   dispose of the Pledged Equity Interests by means of the methods specified under this Agreement; and/or
		

		
			 
		

		
			(3)   maintain or realize the security created or intended to be created under this Agreement.
		

		
			 
		

		
			Section 12     Effectiveness and Term of this Agreement
		

		
			 
		

		
			12.1     This Agreement shall take effect on the date when it is duly executed by the Parties. The Pledgors shall, acting in good faith,  exert every effort to register such Equity Interests Pledge with the competent administration of industry and commerce within the shortest period of time. In furtherance of the foregoing, the Pledgors shall apply to the competent administration of industry and commerce for the registration within three (3) business days of the execution of this Agreement, provided that, if , due to a reason not attributable to the Pledgors, such application fails to be accepted and processed in a timely manner,  they shall not be deemed in breach. After this Agreement takes effect, the Pledgors shall, as required by the Pledgee,  provide the Pledgee with the pledge registration certification issued by the administration of industry and commerce in a form satisfactory to the Pledgee.
		

		
			 
		

		
			12.2     The term of this Agreement shall last until all Contractual Obligations have been fully performed or the Secured Indebtedness has been fully satisfied.
		

		
			 
		

		
			Section    13 Notice
		

		
			 
		

		
			13.1     Any notice, request, demand and other correspondences required by or made in accordance with this Agreement shall be served on the relevant Party(ies) in writing.
		

		
			 
		

		
			13.2     The above notices or other correspondences shall be deemed given upon transmission, if sent by facsimile, or upon delivery, if delivered in person, or on the fifth (5) day after posting, if sent by mail.
		

		
			 
		

		
			Section 14    Miscellaneous
		

		
			 
		

		
			14.1     The Pledgors and the Company agree that the Pledgee may transfer its rights and/or obligations under this Agreement to any third party immediately upon notice to the Pledgors and the Company;  nevertheless, without the Pledgee’s prior written consent, none of the Pledgors or the Company may transfer their rights, obligations or liabilities hereunder to any third party. The successors or permitted assignees (if any) of the Pledgors and the Company shall continue to perform the respective obligations of the Pledgors and the Company under this Agreement.
		

		
			 
		

		
			14.2     The amount of the Secured Indebtedness determined by the Pledgee at its sole discretion in connection with its exercise of its pledgee rights to the Pledged Equity Interests in accordance with the provisions hereunder shall be the conclusive evidence as to the Secured Indebtedness under this Agreement.
		

		
			 
		

		
			14.3     This Agreement is made in Chinese in four originals, with each Party hereto holding one copy.
		

		
			 
		

		
			14.4     The execution, validity, performance, amendment, interpretation and termination of this Agreement shall all be governed by the PRC Laws.
		

		
			 
		

		
			
		

		
			

		 

		

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			14.5     Any dispute arising from or in connection with Agreement shall be resolved by the Parties through consultations. If the Parties fail to reach an agreement within thirty (30) days after its occurrence, such dispute shall be brought before the competent people’s court of Hangzhou for adjudication.
		

		
			 
		

		
			14.6     No rights, powers and remedies granted to any Party by any provision herein shall preclude any other rights, powers and remedies such Party is entitled to in accordance with laws and other provisions of this Agreement; and no exercise by a Party of its rights, powers and remedies shall preclude its exercise of any other rights, powers and remedies it is entitled to.
		

		
			 
		

		
			14.7     No failure or delay by a Party to exercise any of its rights, powers and remedies under this Agreement or the laws (the “Party Rights”) shall operate as a waiver of such Party Rights, nor shall any single or partial exercise of any Party Rights preclude any further exercise of such Party Rights or any exercise of any other Party Rights.
		

		
			 
		

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

		
			 
		

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

		
			 
		

		
			14.10   Any amendments or supplements to this Agreement shall be made in writing. Except where the Pledgee transfers its rights hereunder in accordance with Section 14.1 hereof, the amendments or supplements to this Agreement shall become effective only upon their being duly executed by the Parties hereto
		

		
			 
		

		
			14.11   This Agreement shall be binding upon the lawful successors of each Party.
		

		
			 
		

		
			14.12   Concurrently with the execution of this Agreement, each of the Pledgors shall sign a power of attorney (the “Power of Attorney”) authorizing any person designated by the Pledgee to execute on behalf of such Pledgor in accordance with this Agreement any and all legal instruments necessary for the exercise by the Pledgee of its rights hereunder. Such Powers of Attorney shall be kept by the Pledgee and may whenever necessary be delivered by the Pledgee to relevant government authorities.
		

		
			 
		

		
			14.13   Upon execution , this Agreement shall supersede any other legal documents previously executed by the Parties with respect to the same subject matter hereof. The Parties agree that if,  in accordance with the then-current requirements of the registration authority, an equity pledge agreement in form and substance of a different kind  must be entered into for the purpose of registering the pledge hereunder with the registration authority, such agreement shall not be deemed as any substitute of or amendment to this Agreement. In the event of any conflict or contradiction between said agreement and this Agreement, this Agreement shall govern and control.
		

		
			 
		

		
			[The remainder of this page is intentionally left blank]
		

		
			 
		

		
			
		

		
			

		 

		

			10

		

		

		
			 [Signature Page]
		

		
			 
		

		
			IN WITNESS WHEREOF, the Parties have executed this Agreement on the date and at the place first above written.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Wei Chen

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature: 

					
					
						/s/ Wei Chen

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Lili He

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Lili He

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						BEST Logistics Technologies (China) Co., Ltd.

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						(Seal)

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Authorized Signatory:

					
					
						/s/ Shao-Ning Johnny Chou

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Hangzhou Baisheng Investment Management Co., Ltd.

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						(Seal)

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

			11

		

		

		
			Schedule I
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Company basic information

				
	
					
						 

				
	
					
						Company Name:

					
					
						 

					
					
						Hangzhou Baisheng Investment Management Co., Ltd.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Registered Address:

					
					
						 

					
					
						Room 525, Building No. 6, 1197 Bin’an Road, Binjiang District, Hangzhou

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Registered Capital:

					
					
						 

					
					
						RMB100,000

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Legal Representative:

					
					
						 

					
					
						Wei Chen

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Shareholding Structure:

					
					
						 

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Wei Chen

					
					
						    

					
					
						RMB50,000

					
					
						    

					
					
						50 

					
					
						%  

					
					
						Cash

					
					
						 

				
	
					
						Lili He

					
					
						 

					
					
						RMB50,000

					
					
						 

					
					
						50 

					
					
						%  

					
					
						Cash

					
					
						 

				
	
					
						Total

					
					
						 

					
					
						RMB100,000

					
					
						 

					
					
						100 

					
					
						%  

					
					
						 

					
					
						 

				

		
			 
		

		 

		

			12best_Ex4_22

		
			Exhibit 4.22
		

		
			 
		

		
			This is an English translation of the original Chinese text
		

		
			Wei Chen
		

		
			Lili He
		

		
			Best Inc.
		

		
			BEST Logistics Technologies (China) Co., Ltd.
		

		
			AND
		

		
			Hangzhou Baisheng  Investment Management Co., Ltd.
		

		
			 
		

		
			SHAREHOLDERS’ VOTING RIGHTS PROXY AGREEMENT
		

		
			FOR
		

		
			HANGZHOU BAISHENG INVESTMENT MANAGEMENT CO., LTD.
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			Oct  23, 2019
		

		
			
		

		
			

		 

		

			1

		

		

		
			SHAREHOLDERS’ VOTING RIGHTS PROXY AGREEMENT
		

		
			This Shareholders’ Voting Rights Proxy Agreement (this “Agreement”) is entered into as of Oct 23, 2019  in Hangzhou, Zhejiang Province, the People’s Republic of China (the “PRC”) by and among the following Parties:
		

			
	
			
				 1.
			

			
	
			
			Wei Chen

		
			Address: 105 Wenhua Road, Changguo Sub-district, Dinghai District, Zhoushan, Zhejiang
ID No.: 
		

			
	
			
				 2.
			

			
	
			
			Lili He

		
			Address:  1 Weiye Road, Binjiang District, Hangzhou
		

		
			ID No.: 
		

		
			(Wei Chen and Lili He shall hereinafter be referred to individually as a “Shareholder”, or collectively as the “Shareholders”);
		

			
	
			
				 3.
			

			
	
			
			BEST Inc. (the “Cayman Company”)

		
			Registered address: the offices of Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands
		

			
	
			
				 4.
			

			
	
			
			BEST Logistics Technologies (China) Co., Ltd. (the “WFOE”)

		
			Registered address: Room 2310, 23/F, 588 Jiangnan Avenue, Binjiang District, Hangzhou
		

		
			Legal representative: Shao-Ning Johnny Chou
		

			
	
			
				 5.
			

			
	
			
			Hangzhou Baisheng Investment Management Co., Ltd. (the “Company”)

		
			Registered address: Room 525, Building No. 6, 1197 Bin’an Road, Binjiang District, Hangzhou
		

		
			Legal representative: Wei Chen
		

		
			(In this Agreement, each aforesaid party is referred to individually as a “Party” or collectively as the “Parties”.)
		

		
			Whereas:
		

		
			1.     The Shareholders are the existing shareholders of the Company, holding 100% equity interest in the Company;
		

		
			2.     The Shareholders each intend to entrust an individual(s) designated by the WFOE and approved by the Cayman Company to exercise on their behalf their voting rights at the Company, and the WFOE has agreed to designate such individual(s) to accept such entrustment.
		

		
			NOW, THEREFORE, upon friendly consultations, the Parties hereby agree as follows:
		

		
			Section 1 Voting Rights Proxy
		

		
			1.1   Each Shareholder hereby irrevocably undertakes to execute a power of attorney in the form and substance of Schedule I hereto upon entry into this Agreement, and each Shareholder shall empower an individual(s) then designated by the WFOE and approved by the Cayman Company (the “Proxy”), to exercise on behalf of such Shareholder in a manner consented to by the Cayman Company the following rights such Shareholder shall be entitled to in its capacity as a shareholder of the Company in accordance with then effective articles of association of the Company (collectively the “Proxy Rights”):
		

		
			(1)   to propose the convening of, and attend, as Proxy of the Shareholder, the shareholders’ meetings of the Company in accordance with the articles of association of the Company;
		

		
			(2)   to exercise voting rights on behalf of each Shareholder in respect of all matters to be deliberated and resolved upon by the shareholders’ meetings, including but not limited to the following: (a) to designate and elect the Company’s directors and other senior management to be appointed and removed by the shareholders, (b) to propose and resolve upon the dissolution or liquidation of the Company in accordance with the procedures specified by the Company’s articles of association, (c) to dispose of or transfer the Company’s assets, or transfer on behalf of each Shareholder all or part of its equity interest in the Company;
		

		
			
		

		
			

		 

		

			2

		

		

		
			 
		

		
			(3)   to exercise other shareholder voting rights under the articles of association of the Company (including any such other shareholder voting rights as may be prescribed by amendments thereto).
		

		
			The foregoing grant of powers and entrustment is conditional upon the Proxy being a PRC citizen and the WFOE and the Cayman Company consenting to such grant of powers and entrustment. With the Cayman Company’s consent, the WFOE shall have the right to replace the aforesaid Proxy at any time. If and only if the WFOE has given the Shareholders a written notice requesting  to remove and replace the Proxy, the Shareholders shall immediately appoint such other PRC citizen as designated by the WFOE and approved by the Cayman Company to exercise the aforesaid Proxy Rights; and once made, such new grant of powers and entrustment shall immediately supersede the original authorization and entrustment. Except in accordance with the foregoing, the authorization and entrustment granted to the Proxy shall not be revoked by the Shareholders.
		

		
			1.2   The Proxy shall act with care and diligence and lawfully fulfil the entrusted obligations with the scope of the authorization hereunder; the Shareholders shall each accept, and bear legal liabilities for, any legal consequences arising from the Proxy’s exercise of aforesaid Proxy Rights.
		

		
			1.3   The Shareholders hereby confirm that the Proxy shall not be required to solicit the opinions of the Shareholders before it exercises the aforesaid Proxy Rights, provided that the Proxy shall keep the Shareholders timely informed if any resolution has been adopted or any proposal to convene an extraordinary shareholders’ meeting has been made.
		

		
			Section 2 Information Right
		

		
			2.1   For the purpose of exercising its Proxy Rights hereunder, the Proxy shall have the right to obtain knowledge of all information pertaining to the Company’s operations, businesses, customers, finances, employees, etc. and to inspect relevant materials of the Company; the Company shall provide full cooperation in this regard.
		

		
			Section 3 Exercise of Proxy Rights
		

		
			3.1   The Shareholders shall provide full assistance to the Proxy in connection with its exercise of its Proxy Rights, including, where necessary (e.g., when it is necessary to meet government approval, registration and record-related filing requirements ), timely execution of the shareholders’ meeting resolutions or other relevant legal documents adopted by the Proxy.
		

		
			3.2   If at any time during the term hereof, it becomes impossible to achieve the grant or exercise of the Proxy Rights hereunder for any reason (other than due to a breach by the Shareholders or the Company), the Parties shall immediately seek an alternative solution closest to the unachievable provisions and shall, as necessary, enter into a supplementary agreement to amend or modify the provisions hereof such that the purpose of this Agreement may continue to be achieved.
		

		
			3.3   If, upon the exercise by the Proxy of the Proxy Rights, the Company is dissolved, or any Shareholder transfers all or part of its equity interest in the Company, and if any Shareholder has received from such liquidation or equity transfer aggregate proceeds in excess of its capital contribution to the Company or has received from the Company any profits, bonuses, dividends or other distributions of whatever form, then to the extent not contrary to PRC laws, such Shareholder agrees to waive the excessive amount (relative to its capital contribution) and any such profits, bonuses, dividends or distributions (net of tax and fees) , and the WFOE and/or the Cayman Company shall be entitled to receive the same. Such Shareholders shall direct the relevant transferee or the Company to wire such proceeds to the bank account then designated by the WFOE or the Cayman Company.
		

		
			
		

		
			

		 

		

			3

		

		

		
			Section 4 Disclaimer and Indemnity
		

		
			4.1   The Parties acknowledge that the WFOE and the Cayman Company shall in no event be held liable to the other Parties or any third party or to provide any indemnity, economic or otherwise, for the exercise by the individual(s) designated or approved by them of the Proxy Rights hereunder.
		

		
			4.2   The Shareholders and the Company agree to indemnify and hold the WFOE and the Cayman Company harmless against any and all losses suffered or likely to be suffered by them as a result of the exercise of the Proxy Rights by the Proxy designated or approved by the WFOE or the Cayman Company, including, without limitation, any losses arising out of any suit, recourse, arbitration or claims brought by any third party against them or of any administrative investigation or sanction of any government authorities, except where such losses have arisen out of the willful misconduct or gross negligence of the Proxy.
		

		
			Section 5 Representations and Warranties
		

		
			5.1   The Shareholders and the Company hereby respectively represent and warrant as follows:
		

		
			5.1.1 They are either a PRC citizen with full capacity or a limited liability company duly registered and validly existing under the PRC laws with independent corporate legal personality; they have full and independent legal status and legal capacity and have been duly authorized to execute, deliver and perform this Agreement, and may sue and be sued as an independent party.
		

		
			5.1.2 They have full power and authority to execute and deliver this Agreement and all the other documents to be entered into by them in connection with the transaction contemplated hereunder, as well as to consummate the transaction hereunder. This Agreement has been duly and lawfully executed and delivered by them and shall constitute their legal and binding obligations, enforceable against them in accordance with the provisions hereof.
		

		
			5.1.3 The Shareholders are the lawfully registered shareholders of Company as of the effective date hereof, except the rights created by this Agreement, the Equity Pledge Agreement executed by and among the Shareholders, the Company and the WFOE as of the date hereof, and the Exclusive Option Agreement executed by and among the Shareholders, the Company, the WFOE and the Cayman Company as of the date hereof, the Proxy Rights are free and clear of any third party rights. Pursuant to this Agreement, the Proxy may exercise the Proxy Rights completely and fully in accordance with the then effective articles of association of the Company.
		

		
			5.2   The Cayman Company and the WFOE hereby respectively represent and warrant as follows:
		

		
			5.2.1 They are either a company duly registered and validly existing under the laws of the Cayman Islands or a limited liability company duly registered and validly existing under the PRC laws, with an independent corporate legal personality; they have full and independent legal status and legal capacity to execute, deliver and perform this Agreement and may sue or be sued as an independent party.
		

		
			5.2.2 They have full internal power and authority to execute and deliver this Agreement and all the other documents in connection with the transaction contemplated hereunder, which are to be entered into by them, and have full power and authority to consummate the transaction hereunder.
		

		
			Section 6 Term of Agreement
		

		
			6.1   This Agreement shall become effective on the date when it is duly executed by the Parties hereto, and shall remain valid so long as the Shareholders are the Company’s shareholders, until and unless it is terminated early by the WFOE or the Cayman Company in accordance with Section 9.1 hereof.
		

		
			
		

		
			

		 

		

			4

		

		

		
			Section 7 Notice
		

		
			7.1   Any notice, request, demand and other correspondences required hereby or made hereunder shall be served in writing on the relevant Party.
		

		
			7.2   The above notices or other correspondences shall be deemed given (i) upon transmission, if sent by facsimile, or (ii) upon delivery to the recipient if delivered in person, or (iii) on the fifth (5) day after posting, if sent by mail.
		

		
			Section 8 Confidentiality
		

		
			8.1   Notwithstanding the termination of this Agreement, the Parties shall maintain in strict confidence the business secrets, proprietary information, customer information and any other information of a confidential nature of the other Parties coming into its knowledge during the conclusion and performance of this Agreement (collectively, “Confidential Information”). Except with prior written consent from the Party disclosing the Confidential Information or to the extent required to disclose to a third party by relevant laws or regulations or by the requirements of the listing venue of an affiliate, no Party receiving the Confidential Information shall disclose any Confidential Information to any third party; the Party receiving the Confidential Information shall not use, directly or indirectly, any Confidential Information other than for the purpose of performing this Agreement.
		

		
			8.2   The following information shall not constitute Confidential Information:
		

		
			(a)    any information which, as shown by written evidence, has previously been known to the receiving Party by lawful means;
		

		
			(b)    any information which enters the public domain other than as a result of the receiving Party’s fault; or
		

		
			(c)    any information lawfully acquired by the receiving Party from another source subsequent to its receipt thereof hereunder.
		

		
			8.3   A recipient Party may disclose the Confidential Information to its relevant employees, or agents to the professionals engaged by it, provided that such recipeint Party shall ensure that such persons shall comply with relevant terms and conditions of this Agreement and that it shall assume any liability arising out of any breach by such persons thereof.
		

		
			8.4   Notwithstanding any other provisions herein, the validity of this Section shall not be affected by the suspension or termination of this Agreement.
		

		
			Section 9 Liability for Default
		

		
			9.1   The Parties agree and acknowledge that if any Party (the “Defaulting Party”) materially breaches any provision hereof, or materially fails to perform or delays in performing any obligation hereunder, such breach, failure or delay shall constitute a default hereunder (the “Default”) and any of the non-defaulting Parties (the “Non-Defaulting Party”) shall have the right to demand the Defaulting Party to cure such Default or take remedial measures within a reasonable period of time. If the Defaulting Party fails to cure such Default or take remedial measures within such reasonable period of time or within ten (10) days upon receipt of the written notice from the Non-Defaulting Party requesting it to cure such Default, then:
		

		
			9.1.1 If any Shareholder or the Company is the Defaulting Party, the WFOE or the Cayman Company shall be entitled to terminate this Agreement and demand the Defaulting Party to indemnify for damage;
		

		
			9.1.2 If the WFOE or the Cayman Company is the Defaulting Party, the Non-Defaulting Party shall be entitled to demand the Defaulting Party to indemnify for damage, provided that unless otherwise stipulated by laws, the Non-Defaulting Party shall in no event be entitled to terminate or rescind this Agreement.
		

		
			
		

		
			

		 

		

			5

		

		

		
			9.2   Notwithstanding any other provisions hereof, this Section shall survive the suspension or termination of this Agreement.
		

		
			Section 10 Miscellaneous
		

		
			10.1  This Agreement is made in Chinese in five (5) originals with each Party retaining one (1) copy hereof.
		

		
			10.2  The execution, effectiveness, performance, amendment, interpretation and termination of this Agreement shall be governed by the PRC laws.
		

		
			10.3  Any disputes arising under or in connection with this Agreement shall be resolved by the Parties through consultations. If the Parties fail to reach an agreement within thirty (30) days after its occurrence, such dispute shall be brought before the competent people’s court of Hangzhou for adjudication.
		

		
			10.4  No rights, powers and remedies granted to any Party by any provision herein shall not preclude any other rights, powers and remedies such Party is entitled to in accordance with laws and other provisions of this Agreement, and no exercise by a Party of its rights, powers and remedies shall preclude its exercise of any other rights, powers and remedies it is entitled to.
		

		
			10.5  No failure or delay by a Party to exercise any of its rights, powers and remedies under this Agreement or the laws (the “Party Rights”) shall operate as a waiver of such Party Rights, nor shall any single or partial exercise of any Party Rights preclude any further exercise of such Party Rights or any exercise of any other Party Rights.
		

		
			10.6  The headings of the sections herein are for reference only, and in no circumstances shall such headings be used in or affect the interpretation of the provisions hereof.
		

		
			10.7  Each provision contained herein shall be severable and independent from other provisions. If at any time any one or more provisions herein become invalid, illegal or unenforceable, the validity, legality or enforceability of all other provisions herein shall not be affected thereby.
		

		
			10.8  Upon execution, this Agreement shall supersede any other legal documents previously executed by relevant parties with respect to the same subject matter hereof, including, without limitation, the Amended and Restated Shareholders’ Voting Rights Proxy Agreement dated February 15, 2015 by and among the Shareholders, the WFOE and the Company , which shall terminate on the execution date of this Agreement.
		

		
			10.9  Any amendments or supplements to this Agreement shall be in writing and shall become effective after duly executed by the Parties hereto.
		

		
			10.10 No Party shall assign any of its rights and/or obligations hereunder to any third parties without prior written consent from other Parties.
		

		
			10.11 This Agreement shall be binding on the lawful assignees or successors of the Parties.
		

		
			[The remainder of this page is intentionally left blank]
		

		
			
		

		
			

		 

		

			6

		

		

		
			[Signature Page]
		

		
			IN WITNESS HEREOF, the Parties have duly executed this Agreement on the date and at the place first above written.
		

			
					
						Wei Chen

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature: 

					
					
						/s/ Wei Chen

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Lili He

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature: 

					
					
						/s/ Lili He

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Best Inc.

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						(Seal)

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						BEST Logistics Technologies (China) Co., Ltd

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						(Seal)

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Authorized Signatory:  

					
					
						/s/ Shao-Ning Johnny Chou

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Hangzhou Baisheng Investment Management Co., Ltd.

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						(Seal)

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

			7

		

		

		
			Schedule I
		

		
			Power of Attorney
		

		
			This Power of Attorney (the “Power of Attorney”), executed by [name of company shareholder] (domicile: [], ID No./Registration No.  []) on [date], is issued to and in favor of [] (domicile: [], ID No. []) (the “Proxy”).
		

		
			I/We, [name of individual/company], hereby grant to the Proxy a general proxy authorizing the Proxy to exercise, as my/our proxy and on my/our behalf, the following rights I/we are entitled to exercise in my/our capacity as a shareholder of Hangzhou Baisheng Investment Management Co., Ltd. (the “Company”):
		

		
			(1)      to propose the convening of, and attend, the shareholders’ meetings as my/our proxy in accordance with the articles of association of the Company;
		

		
			(2)      to exercise voting rights as my/our Proxy in respect of all matters to be deliberated and resolved upon by the shareholders’ meetings, including but not limited to the following: (a) to designate and elect the Company’s directors and other senior management to be appointed and removed by the shareholders, (b) to propose and resolve upon the dissolution or liquidation of the Company in accordance with the procedures specified by the Company’s articles of association, (c) to dispose of or transfer the Company’s assets, or transfer on behalf of each Shareholder all or part of its equity interest in the Company;
		

		
			(3)       to exercise other shareholder voting rights under the articles of association of the Company (including any such other shareholder voting rights as may be prescribed by amendments thereto).
		

		
			I/We hereby irrevocably confirm that unless BEST Logistics Technologies (China) Co., Ltd. (the “WFOE”),  has served on me/us a written instruction to replace the Proxy upon consent of BEST Inc. (a company established and existing pursuant to the laws of Cayman Islands) (the “Cayman Company”), this Power of Attorney shall remain valid until the expiry or early termination of the Shareholders’ Voting Rights Proxy Agreement dated __________, 2019  by and among the Cayman Company, the WFOE, the Company and the shareholders of the Company.
		

			
					
						 

					
					
						Name:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By(signature/seal):

					
					
						 

				
	
					
						 

					
					
						Date:

				

		
			 
		

		 

		

			8

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