Document:

Exhibit 10.3

 

STOCK PURCHASE AND BUSINESS SALE AGREEMENT

 

THIS STOCK PURCHASE AND BUSINESS
SALE AGREEMENT (this “Agreement”), dated as of December 31, 2015, is entered into by and

 

AMONG:

 

Kirin International Holding, Inc.,
a corporation formed under the laws of the State of Nevada with its principal office at 1528
Brookhollow Drive, Suite 100, Santa Ana, California 92705, and is publicly traded on the OTC Markets under the symbol KIRI (the
“Seller”),

 

AND

 

Kirin Global Enterprises Inc.,
a corporation formed under the laws of the State of California with its principal office at 1528 Brookhollow Drive, Suite 100,
Santa Ana, California 92705, and is held solely by Mr. Jianfeng Guo (the “Purchaser”).

 

AND

 

Jasper Lake Holdings Limited,
a limited liability company formed under the laws of the British Virgin Islands with its principal office at P.O. Box 957, Offshore
Incorporations Centre, Road Town, Tortola, British Virgin Islands (the “Lender”)

 

(Collectively referred to as the “Parties”
and each individually a “Party”)

 

RECITALS

 

WHEREAS,
the Seller owns 100% of the issued and outstanding ordinary shares (the “Shares”) of Kirin China Holding
Ltd., a limited liability company duly incorporated in the British Virgin Islands (the “Company”), with
Shares valued at Fifty Million One Hundred Forty-One Thousand Nine Hundred and Twenty Three U.S. Dollars (U.S.$50,141,923.00)
as of September 30, 2015 (based on the total stockholders’ equity of the Company as of September 30, 2015), and Seller desires
to sell the Shares and all of its interest in the Company to the Purchaser.

 

WHEREAS,the
Seller desires to sell and the Purchaser desires to buy the Shares and all of Seller’s interest in the Company, and both
the Seller and Purchaser desire to set forth the terms and conditions governing the purchase and sale of the Shares.

 

WHEREAS, the
Seller issued to the Lender a certain 8% convertible promissory note dated December 19, 2015 in the principal amount of One Hundred
Fifty Million U.S. Dollars (U.S. $150,000,000.00) (the “Note”) as part of certain acquisition consummated on December
19, 2015 by the Seller.

 

WHEREAS,
the Lender desires to finance the Purchaser Fifty Eight Million Seven Hundred and Ninety Thousand U.S. Dollars (U.S.$58,790,000.00)
being the price for the purchase of the Company (the “Purchase Price”), and both the Lender and Purchaser desire to
set forth the terms and conditions governing the loan in connection with the purchase and sale of the Shares.

 

     

     

    

 

Accordingly, the
parties hereto agree as follows:

 

1.      Purchase
and Sale of Shares. 

 

(a)       Agreement
to Sell and Purchase the Shares. In consideration of, and in express reliance upon, the representations and warranties of
the Seller and the Purchaser in this Agreement, the Seller hereby agrees to irrevocably transfer and convey the Shares to the
Purchaser, and the Purchaser hereby agrees to pay the Purchase Price for the Shares at the Closing (as defined below).

 

(b)       Financing
by the Lender. The Lender hereby agrees to lend to the Buyer an amount equivalent to the Purchase Price by reducing Seller’s
financial obligations under the Note by the Purchase Price.

 

(c)       Closing.
Subject to the terms and conditions of this Agreement, the closing of the transactions contemplated in this Agreement (the “Closing”)
shall take place at Szaferman Lakind Blumstein & Blader, P.C. on December 31, 2015 at 10am (the “Closing Date”),
or at such time and location to be mutually agreed upon by the parties.

 

2.      Closing.

 

(a)       Transfer
of Shares. At the Closing, Seller shall deliver to Purchaser certificate or certificates representing the Shares, duly endorsed to Purchaser or as directed by Purchaser, which delivery shall vest Purchaser with good and marketable
title to all of the issued and outstanding shares of capital stock of the Company, free and clear of all liens and encumbrances.

 

(b)       Payment
of Purchase Price. At the Closing, Lender shall reduce the Note issued by the Seller by an amount equivalent to the Purchase
Price.

 

3.      Representations
and Warranties of Seller. Seller represents and warrants to the Purchaser as of the date hereof as follows:

 

(a)       Corporate
Authorization; Enforceability. The execution, delivery and performance by Seller of this Agreement are within the corporate
powers and have been, duly authorized by all necessary corporate action on the part of Seller. This Agreement has been duly executed
and delivered by Seller and constitutes the valid and binding agreement of Seller, enforceable against Seller in accordance with
its terms, except to the extent that its enforceability may be subject to applicable bankruptcy, insolvency, reorganization, moratorium
and similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles.

 

(b)       Governmental
Authorization. The execution, delivery and performance by Seller of this Agreement requires no consent, approval, Order, authorization
or action by or in respect of, or filing with, any governmental authority.

 

    	 	2	 

     

    

 

(c)       Non-Contravention;
Consents. The execution, delivery and performance by Seller of this Agreement and the consummation of the transactions contemplated
hereby do not (i) violate the articles of incorporation or bylaws of Seller or (ii) violate any applicable Law or Order.

 

4.      Representations
and Warranties of Purchaser. Purchaser represents and warrants to Seller as of the date hereof as follows:

 

(a)       Enforceability.
The execution, delivery and performance by Purchaser of this Agreement are within Purchaser’s powers. This Agreement has
been duly executed and delivered by Purchaser and constitutes the valid and binding agreement of Purchaser, enforceable against
Purchaser in accordance with its terms, except to the extent that its enforceability may be subject to applicable bankruptcy, insolvency,
reorganization, moratorium and similar laws affecting the enforcement of creditors' rights generally and by general equitable principles.

 

(b)       Governmental
Authorization. The execution, delivery and performance by Purchaser of this Agreement require no consent, approval, Order,
authorization or action by or in respect of, or filing with, any governmental authority.

 

(c)       Non-Contravention;
Consents. The execution, delivery and performance by Purchaser of this Agreement, and the consummation of the transactions
contemplated hereby do not violate any applicable Law or Order.

 

(d)       Purchase
for Investment. Purchaser are financially able to bear the economic risks of acquiring an interest in the Company and the
other transactions contemplated hereby, and have no need for liquidity in this investment. Purchaser have such knowledge and experience
in financial and business matters in general, and with respect to businesses of a nature similar to the business of the Company,
so as to be capable of evaluating the merits and risks of, and making an informed business decision with regard to, the acquisition
of the Shares. Purchaser are acquiring the Shares solely for their own account and not with a view to or for resale in connection
with any distribution or public offering thereof, within the meaning of any applicable securities laws and regulations, unless
such distribution or offering is registered under the Securities Act of 1933, as amended (the “Securities Act”),
or an exemption from such registration is available. Purchaser have (i) received all the information they have deemed necessary
to make an informed investment decision with respect to the acquisition of the Shares, (ii) had an opportunity to make such investigation
as they have desired pertaining to the Company and the acquisition of an interest therein, and to verify the information which
is, and has been, made available to them and (iii) had the opportunity to ask questions of Seller concerning the Company. Purchaser
has received no public solicitation or advertisement with respect to the offer or sale of the Shares. Purchaser realizes that
the Shares are “restricted securities” as that term is defined in Rule 144 promulgated by the Securities and Exchange
Commission under the Securities Act, the resale of the Shares is restricted by federal and state securities laws and, accordingly,
the Shares must be held indefinitely unless their resale is subsequently registered under the Securities Act or an exemption from
such registration is available for their resale. Purchaser understand that any resale of the Shares by them must be registered
under the Securities Act (and any applicable state securities law) or be effected in circumstances that, in the opinion of counsel
for the Company at the time, create an exemption or otherwise do not require registration under the Securities Act (or applicable
state securities laws). Purchaser acknowledges and consents that certificates now or hereafter issued for the Shares will bear
a legend substantially as follows:

  

THE SECURITIES EVIDENCED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
QUALIFIED UNDER ANY APPLICABLE STATE SECURITIES LAWS (THE “STATE ACTS”), HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY
NOT BE SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO A REGISTRATION STATEMENT UNDER THE SECURITIES ACT
AND QUALIFICATION UNDER THE STATE ACTS OR PURSUANT TO EXEMPTIONS FROM SUCH REGISTRATION OR QUALIFICATION REQUIREMENTS (INCLUDING,
IN THE CASE OF THE SECURITIES ACT, THE EXEMPTIONS AFFORDED BY SECTION 4(2) OF THE SECURITIES ACT AND RULE 144 THEREUNDER). AS A
PRECONDITION TO ANY SUCH TRANSFER, THE ISSUER OF THESE SECURITIES SHALL BE FURNISHED WITH AN OPINION OF COUNSEL OPINING AS TO THE
AVAILABILITY OF EXEMPTIONS FROM SUCH REGISTRATION AND QUALIFICATION AND/OR SUCH OTHER EVIDENCE AS MAY BE SATISFACTORY THERETO THAT
ANY SUCH TRANSFER WILL NOT VIOLATE THE SECURITIES LAWS.

 

    	 	3	 

     

    

 

Purchaser understand
that the Shares are being sold to them pursuant to the exemption from registration contained in Section 4(2) of the Securities
Act and that Seller is relying upon the representations made herein as one of the bases for claiming the Section 4(2) exemption.

 

(e)       Liabilities.
Following the Closing, to the best knowledge of the Seller, there will be no debts, liabilities or obligations relating to the
Company or its business or activities, whether before or after the Closing, and there are no outstanding guaranties, performance
or payment bonds, letters of credit or other contingent contractual obligations that have been undertaken by Seller directly or
indirectly in relation to the Company or its business and that may survive the Closing.

 

(f)       Title
to Shares. At Closing, Purchaser will have good and marketable title to the Shares, which at the Closing will be, free and
clear of all options, warrants, pledges, claims, liens and encumbrances, and any restrictions or limitations prohibiting or restricting
transfer to the Purchaser, except for restrictions on transfer as contemplated by applicable securities laws.

 

(g)       Capitalization.
As of the date hereof, Seller owns the Shares, which shares represent 100% of the authorized, issued and outstanding capital stock
of the Company. The Shares are duly authorized, validly issued, fully-paid, non-assessable and free and clear of any liens.

 

    	 	4	 

     

    

 

5.      Indemnification
and Release.

 

(a)       Indemnification.
Purchaser covenants and agrees to indemnify, defend, protect and hold harmless Seller, and its officers, directors, employees,
stockholders, agents, representatives and Affiliates (collectively, together with Seller, the “Seller Indemnified Parties”)
at all times from and after the date of this Agreement from and against all losses, liabilities, damages, claims, actions, suits,
proceedings, demands, assessments, adjustments, costs and expenses (including specifically, but without limitation, reasonable
attorneys’ fees and expenses of investigation), whether or not involving a third party claim and regardless of any negligence
of any Seller Indemnified Party (collectively, “Losses”), incurred by any Seller Indemnified Party as a result
of or arising from (i) any breach of the representations and warranties of Purchaser set forth herein or in certificates delivered
in connection herewith, (ii) any breach or nonfulfillment of any covenant or agreement on the part of Purchaser under this Agreement,
(iii) any debt, liability or obligation of the Company, whether incurred or arising prior to the date hereof or after, (iv) the
conduct and operations of the business of the Company whether before or after the Closing Date, or (v) claims asserted against
the Company whether arising before or after the Closing Date and whether in connection with the transactions contemplated hereunder
or otherwise.

 

(b)       Third
Party Claims.

 

(i)         If
any claim or liability (a “Third-Party Claim”) should be asserted against any of the Seller Indemnified Parties (the
“Indemnitee”) by a third party after the Closing for which Purchaser has an indemnification obligation under
the terms of Section 5(a), then the Indemnitee shall notify Purchaser (the “Indemnitor”) within 20 days after
the Third-Party Claim is asserted by a third party (said notification being referred to as a “Claim Notice”) and give
the Indemnitor a reasonable opportunity to take part in any examination of the books and records of the Indemnitee relating to
such Third-Party Claim and to assume the defense of such Third-Party Claim and in connection therewith and to conduct any proceedings
or negotiations relating thereto and necessary or appropriate to defend the Indemnitee and/or settle the Third-Party Claim. The
expenses (including reasonable attorneys’ fees) of all negotiations, proceedings, contests, lawsuits or settlements with
respect to any Third-Party Claim shall be borne by the Indemnitor. If the Indemnitor agrees to assume the defense of any Third-Party
Claim in writing within 20 days after the Claim Notice of such Third-Party Claim has been delivered, through counsel reasonably
satisfactory to Indemnitee, then the Indemnitor shall be entitled to control the conduct of such defense, and shall be responsible
for any expenses of the Indemnitee in connection with the defense of such Third-Party Claim so long as the Indemnitor continues
such defense until the final resolution of such Third-Party Claim. The Indemnitor shall be responsible for paying all settlements
made or judgments entered with respect to any Third-Party Claim the defense of which has been assumed by the Indemnitor. Except
as provided in subsection (ii) below, both the Indemnitor and the Indemnitee must approve any settlement of a Third-Party Claim.
A failure by the Indemnitee to timely give the Claim Notice shall not excuse Indemnitor from any indemnification liability except
only to the extent that the Indemnitor is materially and adversely prejudiced by such failure.

 

(ii)        If the
Indemnitor shall not agree to assume the defense of any Third-Party Claim in writing within 20 days after the Claim Notice of such
Third-Party Claim has been delivered, or shall fail to continue such defense until the final resolution of such Third-Party Claim,
then the Indemnitee may defend against such Third-Party Claim in such manner as it may deem appropriate and the Indemnitee may
settle such Third-Party Claim, in its sole discretion, on such terms as it may deem appropriate. The Indemnitor shall promptly
reimburse the Indemnitee for the amount of all settlement payments and expenses, legal and otherwise, incurred by the Indemnitee
in connection with the defense or settlement of such Third-Party Claim. If no settlement of such Third-Party Claim is made, then
the Indemnitor shall satisfy any judgment rendered with respect to such Third-Party Claim before the Indemnitee is required to
do so, and pay all expenses, legal or otherwise, incurred by the Indemnitee in the defense against such Third-Party Claim.

 

    	 	5	 

     

    

 

(c)       Non-Third-Party
Claims. Upon discovery of any claim for which Purchaser have an indemnification obligation under the terms of this Section
5 which does not involve a claim by a third party against the Indemnitee, the Indemnitee shall give prompt notice to Purchaser
of such claim and, in any case, shall give Purchaser such notice within 30 days of such discovery. A failure by Indemnitee to timely
give the foregoing notice to Purchaser shall not excuse Purchaser from any indemnification liability except to the extent that
Purchaser is materially and adversely prejudiced by such failure.

 

(d)       Release.
Purchaser, on behalf of itself and its Related Parties as defined below, hereby release and forever discharge Seller and its individual,
joint or mutual, past and present representatives, Affiliates, officers, directors, employees, agents, attorneys, stockholders,
controlling persons, subsidiaries, successors and assigns (individually, a “Releasee” and collectively, “Releasees”)
from any and all claims, demands, proceedings, causes of action, orders, obligations, contracts, agreements, debts and liabilities
whatsoever, whether known or unknown, suspected or unsuspected, both at law and in equity, which Purchaser or any of its Related
Parties now have or have ever had against any Releasee. Purchaser hereby irrevocably covenant to refrain from, directly or indirectly,
asserting any claim or demand, or commencing, instituting or causing to be commenced, any proceeding of any kind against any Releasee,
based upon any matter released hereby. “Related Parties” shall mean, with respect to Purchaser, (i) any Person that
directly or indirectly controls, is directly or indirectly controlled by, or is directly or indirectly under common control with
Purchaser, (ii) any Person in which Purchaser hold a Material Interest or (iii) any Person with respect to which any Purchaser
serves as a general partner or a trustee (or in a similar capacity). For purposes of this definition, “Material Interest”
shall mean direct or indirect beneficial ownership (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended)
of voting securities or other voting interests representing at least ten percent (10%) of the outstanding voting power of a Person
or equity securities or other equity interests representing at least ten percent (10%) of the outstanding equity securities or
equity interests in a Person.

 

6.      Definitions.
As used in this Agreement the following terms shall have the following respective meanings:

 

(a)       “Affiliate”
shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control
with the first Person. For the purposes of this definition, “Control,” when used with respect to any Person, means
the possession, directly or indirectly, of the power to (i) vote 10% or more of the securities having ordinary voting power for
the election of directors (or comparable positions) of such Person or (ii) direct or cause the direction of the management and
policies of such Person, whether through the ownership of voting securities, by contract or otherwise, and the terms “Controlling”
and “Controlled” have meanings correlative to the foregoing;

 

    	 	6	 

     

    

 

(b)       “Closing”
shall have the meaning set forth in the Preamble;

 

(c)      
 “Company” shall have the meaning set forth in the Preamble;

 

(d)       “Governmental
Authority” shall mean any domestic or foreign governmental or regulatory authority;

 

(e)      
 “Indemnitee” shall have the meaning set forth in the Preamble;

 

(f)      
 “Indemnitor” shall have the meaning set forth in the Preamble;

 

(g)       “Law”
shall mean any federal, state or local statute, law, rule, regulation, ordinance, code, Permit, license, policy or rule of common
law;

 

(h)       “Lien”
shall mean, with respect to any property or asset, any mortgage, lien, pledge, charge, security interest, encumbrance or other
adverse claim of any kind in respect of such property or asset. For purposes of this Agreement, a Person will be deemed to own,
subject to a Lien, any property or asset which it has acquired or holds subject to the interest of a vendor or lessor under any
conditional sale agreement, capital lease or other title retention agreement relating to such property or asset;

 

(i)         “Losses”
shall have the meaning set forth in the Preamble;

 

(j)         “Order”
shall mean any judgment, injunction, judicial or administrative order or decree;

 

(k)        “Permit”
shall mean any government or regulatory license, authorization, permit, franchise, consent or approval;

 

(l)         “Person”
shall mean an individual, corporation, partnership, limited liability company, association, trust or other entity or organization,
including a government or political subdivision or an agency or instrumentality thereof;

 

(m)       “Purchaser”
shall have the meaning set forth in the Preamble;

 

(n)        “Releasees”
shall have the meaning set forth in Section 5(d);

 

(o)        “Securities
Act” shall have the meaning set forth in the Preamble;

 

(p)        “Seller”
shall have the meaning set forth in the Preamble.

 

7.      Miscellaneous.

 

(a)       Counterparts.
This Agreement may be signed in any number of counterparts, each of which will be deemed an original but all of which together
shall constitute one and the same instrument.

 

    	 	7	 

     

    

 

(b)       Amendments
and Waivers.

 

(i)        Any provision
of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of
an amendment, by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is to be effective.

 

(ii)       No failure
or delay by any party in exercising any right, power or privilege hereunder will operate as a waiver thereof nor will any single
or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.
The rights and remedies herein provided will be cumulative and not exclusive of any rights or remedies provided by Law.

 

(c)       Successors
and Assigns. The provisions of this Agreement will be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns; provided that no party may assign, delegate or otherwise transfer (including by operation
of Law) any of its rights or obligations under this Agreement without the consent of each other party hereto.

 

(d)       No
Third Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their permitted successors and
assigns and nothing herein expressed or implied will give or be construed to give to any Person, other than the parties hereto,
those referenced in Section 5 above, and such permitted successors and assigns, any legal or equitable rights hereunder.

 

(e)       Governing
Law. This Agreement will be governed by, and construed in accordance with, the internal substantive law of the State of New
York.

 

(f)        Headings.
The headings in this Agreement are for convenience of reference only and will not control or affect the meaning or construction
of any provisions hereof.

 

(g)       Entire
Agreement. This Agreement constitutes the entire agreement among the parties with respect to the subject matter of this Agreement.
This Agreement supersedes all prior agreements and understandings, both oral and written, between the parties with respect to the
subject matter hereof of this Agreement.

 

(h)       Severability.
If any provision of this Agreement or the application of any such provision to any Person or circumstance is held invalid, illegal
or unenforceable in any respect by a court of competent jurisdiction, the remainder of the provisions of this Agreement (or the
application of such provision in other jurisdictions or to Persons or circumstances other than those to which it was held invalid,
illegal or unenforceable) will in no way be affected, impaired or invalidated, and to the extent permitted by applicable Law, any
such provision will be restricted in applicability or reformed to the minimum extent required for such provision to be enforceable.
This provision will be interpreted and enforced to give effect to the original written intent of the parties prior to the determination
of such invalidity or unenforceability.

 

    	 	8	 

     

    

 

[REMAINDER
OF PAGE LEFT BLANK INTENTIONALLY]

 

    	 	9	 

     

    

 

[SIGNATURE PAGE TO STOCK PURCHASE
AGREEMENT]

 

IN WITNESS WHEREOF,
this Agreement has been duly executed and delivered by the parties hereto as of the date first written above.

 

	 	KIRIN
    INTERNATIONAL HOLDING, INC. 
	 	 	 
	 	By:	/s/
    Xiangyao Liu
	 	 	Name: Xiangyao Liu
	 	 	Title: Chief Executive Officer

  

	 	KIRIN GLOBAL ENTERPRISES, INC.
	 	 	 
	 	By:	/s/
    Jianfeng Guo
	 	 	Name: Jianfeng Guo
	 	 	Title: Chief Executive Officer

 

	 	JASPER LAKE HOLDINGS LIMITED.
	 	 	 
	 	By:	/s/
    Xiangyao Liu
	 	 	Name: Xiangyao Liu
	 	 	Title: DirectorExhibit
10.4

 

STOCK
PURCHASE AND BUSINESS SALE AGREEMENT

 

THIS
STOCK PURCHASE AND BUSINESS SALE AGREEMENT (this “Agreement”), dated as of December 31, 2015, is entered into
by and

 

AMONG:

 

Kirin
International Holding, Inc., a corporation formed under the laws of the State of Nevada with its principal
office at 1528 Brookhollow Drive, Suite 100, Santa Ana, California 92705, and is publicly traded on the OTC Markets under
the symbol KIRI (the “Seller”),

  

AND

 

Kirin
Global Enterprises Inc., a corporation formed under the laws of the State of California with its principal office at 1528
Brookhollow Drive, Suite 100, Santa Ana, California 92705, and is held solely by Mr. Jianfeng Guo (the “Purchaser”).

 

(Collectively
referred to as the “Parties” and each individually a “Party”)

  

RECITALS

 

WHEREAS,
the Seller owns 100% of the issued and outstanding membership interest (the “Membership Interests”) of Kirin
Hopkins Real Estate Group LLC., a limited liability company duly incorporated under the laws of the State of California (the
“Company”), with Membership Interests valued at a net loss of Two Hundred Twenty-Five Thousand Seven Hundred
Sixty-One U.S. Dollars (U.S.$-225,761.00) as of September 30, 2015 (based on the total stockholders’ equity of the Company
as of September 30, 2015), and Seller desires to sell the Membership Interests and all of its interest in the Company to the Purchaser.

 

WHEREAS,
the Seller desires to sell and the Purchaser desires to buy the Membership Interests and all of Seller’s interest in
the Company, and both the Seller and Purchaser desire to set forth the terms and conditions governing the purchase and sale of
the Membership Interests.

 

Accordingly,
the parties hereto agree as follows:

 

1.            Purchase
and Sale of Membership Interests.

 

(a)        Agreement
to Sell and Purchase the Membership Interests. In consideration of, and in express reliance upon, the representations and
warranties of the Seller and the Purchaser in this Agreement, the Seller hereby agrees to irrevocably transfer and convey the
Membership Interests to the Purchaser, and the Purchaser hereby agrees to pay an aggregate purchase price of One U.S. Dollar (US$1.00)
in cash (the “Purchase Price”), for the Membership Interests at the Closing (as defined below).

 

(b)        Closing.
Subject to the terms and conditions of this Agreement, the closing of the transactions contemplated in this Agreement (the “Closing”)
shall take place at Szaferman Lakind Blumstein & Blader, P.C. on December 31, 2015 at 10am (the “Closing Date”),
or at such time and location to be mutually agreed upon by the parties.

 

    	 		 

     

    

 

2.           Closing.

 

(a)        Transfer
of Membership Interests. At the Closing, Seller shall deliver to Purchaser certificate or certificates representing the Membership
Interests, duly endorsed to Purchaser or as directed by Purchaser, which delivery shall vest Purchaser with good and marketable
title to all of the issued and outstanding shares of capital stock of the Company, free and clear of all liens and encumbrances.

 

(b)        Payment
of Purchase Price. At the Closing, Purchaser shall pay to the Seller the Purchase Price in cash.

 

3.            Representations
and Warranties of Seller. Seller represents and warrants to the Purchaser as of the date hereof as follows:

 

(a)        Corporate
Authorization; Enforceability. The execution, delivery and performance by Seller of this Agreement are within the corporate
powers and have been, duly authorized by all necessary corporate action on the part of Seller. This Agreement has been duly executed
and delivered by Seller and constitutes the valid and binding agreement of Seller, enforceable against Seller in accordance with
its terms, except to the extent that its enforceability may be subject to applicable bankruptcy, insolvency, reorganization, moratorium
and similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles.

 

(b)        Governmental
Authorization. The execution, delivery and performance by Seller of this Agreement requires no consent, approval, Order, authorization
or action by or in respect of, or filing with, any governmental authority.

 

(c)        Non-Contravention;
Consents. The execution, delivery and performance by Seller of this Agreement and the consummation of the transactions contemplated
hereby do not (i) violate the articles of incorporation or bylaws of Seller or (ii) violate any applicable Law or Order.

 

4.            Representations
and Warranties of Purchaser. Purchaser represents and warrants to Seller as of the date hereof as follows:

 

(a)        Enforceability.
The execution, delivery and performance by Purchaser of this Agreement are within Purchaser’s powers. This Agreement has
been duly executed and delivered by Purchaser and constitutes the valid and binding agreement of Purchaser, enforceable against
Purchaser in accordance with its terms, except to the extent that its enforceability may be subject to applicable bankruptcy,
insolvency, reorganization, moratorium and similar laws affecting the enforcement of creditors' rights generally and by general
equitable principles.

 

(b)        Governmental
Authorization. The execution, delivery and performance by Purchaser of this Agreement require no consent, approval, Order,
authorization or action by or in respect of, or filing with, any governmental authority.

 

    - 2 -

     

    

 

(c)        Non-Contravention;
Consents. The execution, delivery and performance by Purchaser of this Agreement, and the consummation of the transactions
contemplated hereby do not violate any applicable Law or Order.

 

(d)        Purchase
for Investment. Purchaser are financially able to bear the economic risks of acquiring an interest in the Company and the
other transactions contemplated hereby, and have no need for liquidity in this investment. Purchaser have such knowledge and experience
in financial and business matters in general, and with respect to businesses of a nature similar to the business of the Company,
so as to be capable of evaluating the merits and risks of, and making an informed business decision with regard to, the acquisition
of the Membership Interests. Purchaser are acquiring the Membership Interests solely for their own account and not with a view
to or for resale in connection with any distribution or public offering thereof, within the meaning of any applicable securities
laws and regulations, unless such distribution or offering is registered under the Securities Act of 1933, as amended (the “Securities
Act”), or an exemption from such registration is available. Purchaser have (i) received all the information they have
deemed necessary to make an informed investment decision with respect to the acquisition of the Membership Interests, (ii) had
an opportunity to make such investigation as they have desired pertaining to the Company and the acquisition of an interest therein,
and to verify the information which is, and has been, made available to them and (iii) had the opportunity to ask questions of
Seller concerning the Company. Purchaser has received no public solicitation or advertisement with respect to the offer or sale
of the Membership Interests. Purchaser realizes that the Membership Interests are “restricted securities” as that
term is defined in Rule 144 promulgated by the Securities and Exchange Commission under the Securities Act, the resale of the
Membership Interests is restricted by federal and state securities laws and, accordingly, the Membership Interests must be held
indefinitely unless their resale is subsequently registered under the Securities Act or an exemption from such registration is
available for their resale. Purchaser understand that any resale of the Membership Interests by them must be registered under
the Securities Act (and any applicable state securities law) or be effected in circumstances that, in the opinion of counsel for
the Company at the time, create an exemption or otherwise do not require registration under the Securities Act (or applicable
state securities laws). Purchaser acknowledges and consents that certificates now or hereafter issued for the Membership Interests
will bear a legend substantially as follows:

 

THE
SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR QUALIFIED UNDER ANY APPLICABLE STATE SECURITIES LAWS (THE “STATE ACTS”), HAVE BEEN ACQUIRED FOR INVESTMENT
AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO A REGISTRATION STATEMENT UNDER THE SECURITIES
ACT AND QUALIFICATION UNDER THE STATE ACTS OR PURSUANT TO EXEMPTIONS FROM SUCH REGISTRATION OR QUALIFICATION REQUIREMENTS (INCLUDING,
IN THE CASE OF THE SECURITIES ACT, THE EXEMPTIONS AFFORDED BY SECTION 4(2) OF THE SECURITIES ACT AND RULE 144 THEREUNDER). AS
A PRECONDITION TO ANY SUCH TRANSFER, THE ISSUER OF THESE SECURITIES SHALL BE FURNISHED WITH AN OPINION OF COUNSEL OPINING AS TO
THE AVAILABILITY OF EXEMPTIONS FROM SUCH REGISTRATION AND QUALIFICATION AND/OR SUCH OTHER EVIDENCE AS MAY BE SATISFACTORY THERETO
THAT ANY SUCH TRANSFER WILL NOT VIOLATE THE SECURITIES LAWS.

 

    - 3 -

     

    

  

Purchaser
understand that the Membership Interests are being sold to them pursuant to the exemption from registration contained in Section
4(2) of the Securities Act and that Seller is relying upon the representations made herein as one of the bases for claiming the
Section 4(2) exemption.

 

(e)        Liabilities.
Following the Closing, to the best knowledge of the Seller, there will be no debts, liabilities or obligations relating to the
Company or its business or activities, whether before or after the Closing, and there are no outstanding guaranties, performance
or payment bonds, letters of credit or other contingent contractual obligations that have been undertaken by Seller directly or
indirectly in relation to the Company or its business and that may survive the Closing.

 

(f)        Title
to Membership Interests. At Closing, Purchaser will have good and marketable title to the Membership Interests, which at the
Closing will be, free and clear of all options, warrants, pledges, claims, liens and encumbrances, and any restrictions or limitations
prohibiting or restricting transfer to the Purchaser, except for restrictions on transfer as contemplated by applicable securities
laws.

 

(g)        Capitalization.
As of the date hereof, Seller owns the Membership Interests, which shares represent 100% of the authorized, issued and outstanding
capital stock of the Company. The Membership Interests are duly authorized, validly issued, fully-paid, non-assessable and free
and clear of any liens.

 

5.            Indemnification
and Release.

 

(a)        Indemnification.
Purchaser covenants and agrees to indemnify, defend, protect and hold harmless Seller, and its officers, directors, employees,
stockholders, agents, representatives and Affiliates (collectively, together with Seller, the “Seller Indemnified Parties”)
at all times from and after the date of this Agreement from and against all losses, liabilities, damages, claims, actions, suits,
proceedings, demands, assessments, adjustments, costs and expenses (including specifically, but without limitation, reasonable
attorneys’ fees and expenses of investigation), whether or not involving a third party claim and regardless of any negligence
of any Seller Indemnified Party (collectively, “Losses”), incurred by any Seller Indemnified Party as a result
of or arising from (i) any breach of the representations and warranties of Purchaser set forth herein or in certificates delivered
in connection herewith, (ii) any breach or nonfulfillment of any covenant or agreement on the part of Purchaser under this Agreement,
(iii) any debt, liability or obligation of the Company, whether incurred or arising prior to the date hereof or after, (iv) the
conduct and operations of the business of the Company whether before or after the Closing Date, or (v) claims asserted against
the Company whether arising before or after the Closing Date and whether in connection with the transactions contemplated hereunder
or otherwise.

 

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(b)        Third
Party Claims.

 

(i)        If
any claim or liability (a “Third-Party Claim”) should be asserted against any of the Seller Indemnified Parties
(the “Indemnitee”) by a third party after the Closing for which Purchaser has an indemnification obligation
under the terms of Section 5(a), then the Indemnitee shall notify Purchaser (the “Indemnitor”) within 20 days
after the Third-Party Claim is asserted by a third party (said notification being referred to as a “Claim Notice”)
and give the Indemnitor a reasonable opportunity to take part in any examination of the books and records of the Indemnitee relating
to such Third-Party Claim and to assume the defense of such Third-Party Claim and in connection therewith and to conduct any proceedings
or negotiations relating thereto and necessary or appropriate to defend the Indemnitee and/or settle the Third-Party Claim. The
expenses (including reasonable attorneys’ fees) of all negotiations, proceedings, contests, lawsuits or settlements with
respect to any Third-Party Claim shall be borne by the Indemnitor. If the Indemnitor agrees to assume the defense of any Third-Party
Claim in writing within 20 days after the Claim Notice of such Third-Party Claim has been delivered, through counsel reasonably
satisfactory to Indemnitee, then the Indemnitor shall be entitled to control the conduct of such defense, and shall be responsible
for any expenses of the Indemnitee in connection with the defense of such Third-Party Claim so long as the Indemnitor continues
such defense until the final resolution of such Third-Party Claim. The Indemnitor shall be responsible for paying all settlements
made or judgments entered with respect to any Third-Party Claim the defense of which has been assumed by the Indemnitor. Except
as provided in subsection (ii) below, both the Indemnitor and the Indemnitee must approve any settlement of a Third-Party Claim.
A failure by the Indemnitee to timely give the Claim Notice shall not excuse Indemnitor from any indemnification liability except
only to the extent that the Indemnitor is materially and adversely prejudiced by such failure.

 

(ii)        If
the Indemnitor shall not agree to assume the defense of any Third-Party Claim in writing within 20 days after the Claim Notice
of such Third-Party Claim has been delivered, or shall fail to continue such defense until the final resolution of such Third-Party
Claim, then the Indemnitee may defend against such Third-Party Claim in such manner as it may deem appropriate and the Indemnitee
may settle such Third-Party Claim, in its sole discretion, on such terms as it may deem appropriate. The Indemnitor shall promptly
reimburse the Indemnitee for the amount of all settlement payments and expenses, legal and otherwise, incurred by the Indemnitee
in connection with the defense or settlement of such Third-Party Claim. If no settlement of such Third-Party Claim is made, then
the Indemnitor shall satisfy any judgment rendered with respect to such Third-Party Claim before the Indemnitee is required to
do so, and pay all expenses, legal or otherwise, incurred by the Indemnitee in the defense against such Third-Party Claim.

 

(c)        Non-Third-Party
Claims. Upon discovery of any claim for which Purchaser have an indemnification obligation under the terms of this Section
5 which does not involve a claim by a third party against the Indemnitee, the Indemnitee shall give prompt notice to Purchaser
of such claim and, in any case, shall give Purchaser such notice within 30 days of such discovery. A failure by Indemnitee to
timely give the foregoing notice to Purchaser shall not excuse Purchaser from any indemnification liability except to the extent
that Purchaser is materially and adversely prejudiced by such failure.

 

    - 5 -

     

    

  

(d)        Release.
Purchaser, on behalf of itself and its Related Parties as defined below, hereby release and forever discharge Seller and its individual,
joint or mutual, past and present representatives, Affiliates, officers, directors, employees, agents, attorneys, stockholders,
controlling persons, subsidiaries, successors and assigns (individually, a “Releasee” and collectively, “Releasees”)
from any and all claims, demands, proceedings, causes of action, orders, obligations, contracts, agreements, debts and liabilities
whatsoever, whether known or unknown, suspected or unsuspected, both at law and in equity, which Purchaser or any of its Related
Parties now have or have ever had against any Releasee. Purchaser hereby irrevocably covenant to refrain from, directly or indirectly,
asserting any claim or demand, or commencing, instituting or causing to be commenced, any proceeding of any kind against any Releasee,
based upon any matter released hereby. “Related Parties” shall mean, with respect to Purchaser, (i) any Person
that directly or indirectly controls, is directly or indirectly controlled by, or is directly or indirectly under common control
with Purchaser, (ii) any Person in which Purchaser hold a Material Interest or (iii) any Person with respect to which any Purchaser
serves as a general partner or a trustee (or in a similar capacity). For purposes of this definition, “Material Interest”
shall mean direct or indirect beneficial ownership (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended)
of voting securities or other voting interests representing at least ten percent (10%) of the outstanding voting power of a Person
or equity securities or other equity interests representing at least ten percent (10%) of the outstanding equity securities or
equity interests in a Person.

 

6.           Definitions.
As used in this Agreement the following terms shall have the following respective meanings:

 

(a)        “Affiliate”
shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control
with the first Person. For the purposes of this definition, “Control,” when used with respect to any Person,
means the possession, directly or indirectly, of the power to (i) vote 10% or more of the securities having ordinary voting power
for the election of directors (or comparable positions) of such Person or (ii) direct or cause the direction of the management
and policies of such Person, whether through the ownership of voting securities, by contract or otherwise, and the terms “Controlling”
and “Controlled” have meanings correlative to the foregoing;

 

(b)        “Closing”
shall have the meaning set forth in the Preamble;

 

(c)        “Company”
shall have the meaning set forth in the Preamble;

 

(d)        “Governmental
Authority” shall mean any domestic or foreign governmental or regulatory authority;

 

(e)        “Indemnitee”
shall have the meaning set forth in the Preamble;

 

(f)        “Indemnitor”
shall have the meaning set forth in the Preamble;

 

(g)        “Law”
shall mean any federal, state or local statute, law, rule, regulation, ordinance, code, Permit, license, policy or rule of common
law;

 

(h)        “Lien”
shall mean, with respect to any property or asset, any mortgage, lien, pledge, charge, security interest, encumbrance or other
adverse claim of any kind in respect of such property or asset. For purposes of this Agreement, a Person will be deemed to own,
subject to a Lien, any property or asset which it has acquired or holds subject to the interest of a vendor or lessor under any
conditional sale agreement, capital lease or other title retention agreement relating to such property or asset;

 

    - 6 -

     

    

  

(i)        “Losses”
shall have the meaning set forth in the Preamble;

 

(j)        “Order”
shall mean any judgment, injunction, judicial or administrative order or decree;

 

(k)        “Permit”
shall mean any government or regulatory license, authorization, permit, franchise, consent or approval;

 

(l)        “Person”
shall mean an individual, corporation, partnership, limited liability company, association, trust or other entity or organization,
including a government or political subdivision or an agency or instrumentality thereof;

 

(m)        “Purchaser”
shall have the meaning set forth in the Preamble;

 

(n)        “Releasees”
shall have the meaning set forth in Section 5(d);

 

(o)        “Securities
Act” shall have the meaning set forth in the Preamble;

 

(p)        “Seller”
shall have the meaning set forth in the Preamble.

 

7.            Miscellaneous.

 

(a)        Counterparts.
This Agreement may be signed in any number of counterparts, each of which will be deemed an original but all of which together
shall constitute one and the same instrument.

 

(b)        Amendments
and Waivers.

 

(i)        Any
provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in
the case of an amendment, by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is
to be effective.

 

(ii)        No
failure or delay by any party in exercising any right, power or privilege hereunder will operate as a waiver thereof nor will
any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power
or privilege. The rights and remedies herein provided will be cumulative and not exclusive of any rights or remedies provided
by Law.

 

(c)        Successors
and Assigns. The provisions of this Agreement will be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns; provided that no party may assign, delegate or otherwise transfer (including by operation
of Law) any of its rights or obligations under this Agreement without the consent of each other party hereto.

 

    - 7 -

     

    

 

(d)        No
Third Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their permitted successors and
assigns and nothing herein expressed or implied will give or be construed to give to any Person, other than the parties hereto,
those referenced in Section 5 above, and such permitted successors and assigns, any legal or equitable rights hereunder.

 

(e)        Governing
Law. This Agreement will be governed by, and construed in accordance with, the internal substantive law of the State of New
York.

 

(f)        Headings.
The headings in this Agreement are for convenience of reference only and will not control or affect the meaning or construction
of any provisions hereof.

 

(g)        Entire
Agreement. This Agreement constitutes the entire agreement among the parties with respect to the subject matter of this Agreement.
This Agreement supersedes all prior agreements and understandings, both oral and written, between the parties with respect to
the subject matter hereof of this Agreement.

 

(h)        Severability.
If any provision of this Agreement or the application of any such provision to any Person or circumstance is held invalid, illegal
or unenforceable in any respect by a court of competent jurisdiction, the remainder of the provisions of this Agreement (or the
application of such provision in other jurisdictions or to Persons or circumstances other than those to which it was held invalid,
illegal or unenforceable) will in no way be affected, impaired or invalidated, and to the extent permitted by applicable Law,
any such provision will be restricted in applicability or reformed to the minimum extent required for such provision to be enforceable.
This provision will be interpreted and enforced to give effect to the original written intent of the parties prior to the determination
of such invalidity or unenforceability.

 

[REMAINDER
OF PAGE LEFT BLANK INTENTIONALLY]

 

    - 8 -

     

    

  

[SIGNATURE
PAGE TO STOCK PURCHASE AGREEMENT]

 

IN
WITNESS WHEREOF, this Agreement has been duly executed and delivered by the parties hereto as of the date first written above.

 

	 	KIRIN
    INTERNATIONAL HOLDING, INC.
	 	 	 
	 	By:	/s/
    Xiangyao Liu
	 	 	Name:
    Xiangyao Liu
	 	 	Title:
      Chief Executive Officer
	 	 	 
	 	KIRIN
    GLOBAL ENTERPRISES, INC.
	 	 	 
	 	By:
    	/s/
    Jianfeng Guo
	 	 	Name:
    Jianfeng Guo
		 	Title:
      Chief Executive Officer

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