Document:

Exhibit
10.2

 

Equity
Interest Pledge Agreement

 

This
Exclusive Interest Pledge Agreement (this “Agreement”) is executed by and among the following Parties as of November
6, 2018 in Jiaxing, Zhejiang Province, the People’s Republic of China (“China” or the “PRC”):

 

	Party
    A:	Jiaxing
    Bangtong Electronic technology Co., Ltd. (嘉兴市邦同电子科技有限公司)(hereinafter
    the “Pledgee”), a wholly foreign-owned enterprise, organized and existing under the laws of the PRC, with its
    registered address at ***;

 

	Party
    B:	Xianyi
    Hao(郝显义) (hereinafter the “Pledgor”), a Chinese citizen with Identification No.: ***;

 

	Party
    C:	Shenzhen
    Bangtong Ecommerce Co., Ltd.(深圳市邦同电子商务有限公司),
    a limited liability company organized and existing under the laws of the PRC, with its registered address at ***.

 

In
this Agreement, each of the Pledgee, the Pledgor and Party C shall be hereinafter referred to as a “Party” individually,
and as the “Parties” collectively.

 

Whereas:

 

	1.	The
    Pledgor is a citizen of China who as of the date hereof holds 97.55% of the equity interests of Party C, representing RMB
    11,930,000 in the registered capital of Party C. Party C is a limited liability company registered in Shenzhen, China. Party
    C acknowledges the respective rights and obligations of the Pledgor and the Pledgee under this Agreement, and intends to provide
    any necessary assistance in registering the Pledge;

 

	2.	The
    Pledgee is a wholly foreign-owned enterprise registered in China. The Pledgee and Party C have executed an Exclusive Business
    Cooperation Agreement (as defined below); Party C, the Pledgee and the Pledgor have executed an Exclusive Option Agreement
    (as defined below); the Pledgor has executed a Power of Attorney (as defined below) in favor of the Pledgee; and the Pledgee
    and the Pledgor have executed a Loan Agreement (as defined below) as defined below);

 

	3.	To
    ensure that Party C and the Pledgor fully perform their obligations under the Exclusive Business Cooperation Agreement, the
    Exclusive Option Agreement, the Load Agreement and the Power of Attorney, the Pledgor hereby pledges to the Pledgee all of
    the equity interest that the Pledgor holds in Party C as security for Party C’s and the Pledgor’s obligations
    under the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement, the Loan Agreement and the Power of Attorney.

 

    	 

    	 

    

 

To
perform the provisions of the Transaction Documents (as defined below), the Parties have mutually agreed to execute this Agreement
upon the following terms.

 

	1.	Definitions

 

Unless
otherwise provided herein, the terms below shall have the following meanings:

 

	 	1.1	Pledge:
    shall refer to the security interest granted by the Pledgor to the Pledgee pursuant to Section 2 of this Agreement, i.e.,
    the right of the Pledgee to be paid in priority with the Equity Interest based on the monetary valuation that such Equity
    Interest is converted into or from the proceeds from the auction or sale of the Equity Interest.

 

	 	1.2	Equity
    Interest: shall refer to 97.55% equity interests in Party C currently held by the Pledgor, representing RMB11,930,000 in the
    registered capital of Party C, and all of the equity interest hereafter legally acquired by the Pledgor in Party C.

 

	 	1.3	Term
    of the Pledge: shall refer to the term set forth in Section 3 of this Agreement.

 

	 	1.4	Transaction
    Documents: shall refer to the Exclusive Business Cooperation Agreement executed by and between Party C and the Pledgee on
    November 6, 2018, (the “Exclusive Business Cooperation Agreement”),
    the Exclusive Option Agreement executed by and among Party C, the Pledgee and the Pledgor on November
    6, 2018, (the “Exclusive Option Agreement”), the Loan Agreement executed by and between the Pledgee and
    the Pledgor on November 6, 2018, (the “Loan Agreement”), Power of
    Attorney executed on November 6, 2018, by the Pledgor (the “Power of Attorney”)
    and any modification, amendment and restatement to the aforementioned documents.

 

	 	1.5	Contract
    Obligations: shall refer to all the obligations of the Pledgor under the Exclusive Option Agreement, the Power of Attorney,
    the Loan Agreement and this Agreement; all the obligations of Party C under the Exclusive Business Cooperation Agreement,
    the Exclusive Option Agreement and this Agreement.

 

	 	1.6	Secured
    Indebtedness: shall refer to all the direct, indirect and derivative losses and losses of anticipated profits, suffered by
    the Pledgee, incurred as a result of any Event of Default on the part of the Pledgor and/or Party C under the Transaction
    Documents. The amount of such losses shall be calculated based on such factors as the reasonable business plan and profit
    forecast of the Pledgee, the consulting and service fees payable to the Pledgee under the Exclusive Business Cooperation Agreement,
    damages and relevant fees under the Transaction Documents, all expenses occurred by the Pledgee in connection with enforcement
    of the Pledgor’s and/or Party C’s Contract Obligations and etc.

 

    	 

    	 

    

 

	 	1.7	Event
    of Default: shall refer to any of the circumstances set forth in Section 7 of this Agreement.
	 	 	 
	 	1.8	Notice of Default:
    shall refer to the notice issued by the Pledgee in accordance with this Agreement declaring an Event of Default.

 

	2.	Pledge

 

	 	2.1	The
    Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the
    Secured Indebtedness under this Agreement. Party C hereby assents that the Pledgor pledges the Equity Interest to the Pledgee
    pursuant to this Agreement.

 

	 	2.2	During
    the term of the Pledge, unless prohibited by the applicable laws and regulations, the Pledgee is entitled to receive dividends
    distributed on the Equity Interest. Without the prior written consent of the Pledgee, the Pledgor shall not receive dividends
    distributed on the Equity Interest. Dividends received by the Pledgor on Equity Interest after the deduction of individual
    income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised
    by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to making
    any other payment; or (2) to the extent not prohibited by the applicable PRC laws, unconditionally donated to the Pledgee
    or any other person designated by the Pledgee in the manner permitted by the PRC laws.

 

	 	2.3	The
    Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any additional equity
    interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the
    Company shall also be deemed as Equity Interest, and the Parties shall enter into further equity pledge agreement for this
    purpose and complete registration of the pledge of such additional equity interest.

 

	 	2.4	In
    the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to the Pledgor upon
    Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designated
    and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference
    to make any other payment; or (2) to the extent not prohibited by PRC laws, unconditionally donated to the Pledgee or any
    other person designated by the Pledgee in the manner permitted by the applicable PRC laws.

 

	3.	Term of the Pledge

 

	 	3.1	The
    Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with the
    relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract
    Obligations have been fully performed and all Secured Indebtedness has been fully paid. The Pledgor and Party C shall (1)
    register the Pledge in the shareholders’ register of Party C within 7 business days following the execution of this
    Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated
    herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration
    of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity
    interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information
    of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the
    Parties shall be bound by the provisions of this Agreement. The Pledgor and Party C shall submit all necessary documents and
    complete all necessary procedures, as required by the relevant PRC laws and regulations and the competent AIC, to ensure that
    the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing.

 

    	 

    	 

    

 

	 	3.2	During
    the Term of the Pledge, in the event the Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness,
    the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this
    Agreement.

 

	4.	Custody of Records for
    Equity Interest subject to the Pledge

 

	 	4.1	During
    the Term of the Pledge set forth in this Agreement, the Pledgor shall deliver to the Pledgee’s custody the capital contribution
    certificate for the Equity Interest and the shareholders’ register containing the Pledge within one week from the execution
    of this Agreement. The Pledgee shall have custody of such documents during the entire Term of the Pledge set forth in this
    Agreement.

 

	5.	Representations and Warranties
    of the Pledgor and Party C

 

As
of the execution date of this Agreement, the Pledgor and Party C hereby jointly and severally represent and warrant to the Pledgee
that:

 

	 	5.1	The
    Pledgor is the sole legal and beneficial owner of the Equity Interest. The Pledgee shall have the right to dispose of and
    transfer the Equity Interest in accordance with the provisions set forth in this Agreement.

 

	 	5.2	Each
    of the Pledgor and Party C has the power, capacity and authority to execute and deliver this Agreement, and to perform it/his
    obligations under this Agreement. This Agreement constitutes the Pledgor’s and Party C’s legal, valid and binding
    obligations and shall be enforceable against them in accordance with the provisions thereof.

 

	 	5.3	Except
    for the Pledge, the Pledgor has not placed any security interest or other encumbrance on the Equity Interest.

 

	 	5.4	The
    Pledgor and Party C have obtained any and all approvals and consents from the applicable government authorities and third
    parties (if required) for the execution, delivery and performance of this Agreement.

 

    	 

    	 

    

 

	 	5.5	The
    execution, delivery and performance of this Agreement will not: (i) violate any relevant PRC laws; (ii) conflict with Party
    C’s articles of association or other constitutional documents; (iii) result in any breach of or constitute any default
    under any contract or document to which it is a party or by which it is otherwise bound; (iv) result in any violation of any
    condition for the grant and/or maintenance of any permit or approval granted to any Party; or (v) cause any permit or approval
    granted to any Party to be suspended, cancelled or attached with additional conditions.

 

	6.	Covenants of the Pledgor
    and Party C

 

	 	6.1	During
    the term of this Agreement, the Pledgor and Party C hereby jointly and severally covenant to the Pledgee:

 

	 	6.1.1	The
    Pledgor shall not transfer the Equity Interest, place or permit the existence of any security interest or other encumbrance
    on the Equity Interest or any portion thereof, without the prior written consent of the Pledgee, except for the performance
    of the Transaction Documents; Party C shall not assent to or assist in the aforesaid behaviors;

 

	 	6.1.2	The
    Pledgor and Party C shall comply with and carry out all requirements under applicable laws and regulations relating to pledge,
    and within five (5) days of receipt of any notice, order or recommendation issued or made by the competent authorities regarding
    the Pledge (if any), shall present the aforementioned notice, order or recommendation to the Pledgee, and shall comply with
    the aforementioned notice, order or recommendation or submit objections and representations with respect to the aforementioned
    matters upon the Pledgee’s reasonable request or upon consent of the Pledgee;

 

	 	6.1.3	Each
    of the Pledgor and Party C shall promptly notify the Pledgee of any event or notice received by it that may have an impact
    on the Equity Interest (or any portion thereof,) as well as any event or notice received by it that may have an impact on
    any guarantees and obligations of the Pledgor under this Agreement or the performance of obligations of the Pledgor under
    this Agreement;

 

	 	6.1.4	Party
    C shall complete the registration procedures for the extension of the operation term within three (3) months prior to the
    expiration of such term to maintain the validity of this Agreement.

 

	 	6.2	The
        Pledgor agrees that the rights acquired by the Pledgee in accordance with this Agreement with respect to the Pledge shall
        not be interrupted or harmed by the Pledgor or any, successors, heirs or representatives of the Pledgor or any other persons
        through any legal proceedings.

        

 

    	 

    	 

    

 

	 	6.3	To
    protect or perfect the security interest granted by this Agreement for the Contract Obligations and Secured Indebtedness,
    the Pledgor hereby undertakes to execute in good faith and to cause other parties who have an interest in the Pledge to execute
    all certificates, agreements, deeds and/or covenants required by the Pledgee. The Pledgor also undertakes to perform and to
    cause other parties who have an interest in the Pledge to perform actions required by the Pledgee, to facilitate the exercise
    by the Pledgee of its rights and authority granted thereto by this Agreement, and to enter into all relevant documents regarding
    ownership of Equity Interest with the Pledgee or designee(s) of the Pledgee (natural persons/legal persons). The Pledgor undertakes
    to provide the Pledgee within a reasonable time with all notices, the orders and decisions regarding the Pledge that are required
    by the Pledgee.

 

	 	6.4	The
    Pledgor hereby undertakes to comply with and perform all guarantees, promises, agreements, representations and conditions
    under this Agreement. In the event of failure or partial performance of its guarantees, promises, agreements, representations
    and conditions, the Pledgor shall indemnify the Pledgee for all losses resulting therefrom.

 

	7.	Event of Breach

 

	 	7.1	The
    following circumstances shall be deemed an Event of Default:

 

	 	7.1.1	The
    Pledgor’s any breach to any obligations under the Transaction Documents and/or this Agreement.

 

	 	7.1.2	Party
    C’s any breach to any obligations under the Transaction Documents and/or this Agreement.

 

	 	7.2	Upon
    notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described
    in Section 7.1, the Pledgor and Party C shall immediately notify the Pledgee in writing accordingly.

 

	 	7.3	Unless
    an Event of Default set forth in Section 7.1 has been successfully resolved to the Pledgee’s satisfaction within twenty
    (20) days after the Pledgee and/or Party C delivers a notice to the Pledgor requesting ratification of such Event of Default,
    the Pledgee may issue a Notice of Default to the Pledgor in writing at any time thereafter, demanding the Pledgor to immediately
    exercise the Pledge in accordance with the provisions of Section 8 of this Agreement.

 

	8.	Exercise of the Pledge

 

	 	8.1	The
    Pledgee shall issue a written Notice of Default to the Pledgor when it exercises the Pledge.

 

	 	8.2	Subject
    to the provisions of Section 7.3, the Pledgee may exercise the right to enforce the Pledge at any time after the issuance
    of the Notice of Default in accordance with Section 8.1.

 

	 	8.3	After
    the Pledgee issues a Notice of Default to the Pledgor in accordance with Section 8.1, the Pledgee may exercise any remedy
    measure under the applicable PRC laws, the Transaction Documents and this Agreement, including but not limited to being paid
    in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the
    proceeds from the auction or sale of the Equity Interest. The Pledgee shall not be liable for any loss incurred by its duly
    exercise of such rights and powers.

 

    	 

    	 

    

 

	 	8.4	The
    proceeds from the exercise of the Pledge by the Pledgee shall be used to pay for the taxes and expenses incurred as a result
    of disposing the Equity Interest and to perform the Contract Obligations and pay the Secured Indebtedness to the Pledgee prior
    and in preference to any other payment. After the payment of the aforementioned amounts, the remaining balance shall be returned
    to the Pledgor or any other person who have rights to such balance under applicable laws or be deposited to the local notary
    public office where the Pledgor resides, with all expenses incurred being borne by the Pledgor. To the extent not prohibited
    by the applicable PRC laws, the Pledgor shall unconditionally donate the aforementioned proceeds to the Pledgee or any other
    person designated by the Pledgee in the manner permitted by the PRC laws.

 

	 	8.5	The
    Pledgee may exercise any remedy measure available to it simultaneously or in any order. The Pledgee may exercise the priority
    right in compensation based on the monetary valuation that such Equity Interest is converted into or with the proceeds from
    the auction or sale of the Equity Interest under this Agreement, without being required to exercise any other remedy measure
    first.

 

	 	8.6	The
    Pledgee is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf, and the Pledgor
    or Party C shall not raise any objection to such exercise.

 

	 	8.7	When
    the Pledgee disposes of the Pledge in accordance with this Agreement, the Pledgor and Party C shall provide the necessary
    assistance to enable the Pledgee to enforce the Pledge in accordance with this Agreement.

 

	9.	Breach of Agreement

 

	 	9.1	If
        the Pledgor or Party C materially breaches any provision under this Agreement, or fails to perform, performs incompletely
        or delays to perform any obligation under this Agreement, it shall constitute a breach under this Agreement on the part
        of the Pledgor or Party C (as the case may be). The Pledgee is entitled to require the Pledgor or Party C to rectify or
        take remedial measures. If within ten (10) days after the Pledgee delivers a written notice to the Pledgor or Party C
        and requires for rectification (or within any other reasonable period required by the Pledgee), the Pledgor or Party C
        (as the case may be) fails to rectify or take remedial measures, the Pledgee is entitled to, at its sole discretion, (1)
        terminate this Agreement and require the Pledgor or Party C (as the case may be) to compensate all the losses; or (2)
        require specific performance of the obligations of the Pledgor or Party C (as the case may be) under this Agreement and
        require the Pledgor or Party C (as the case may be) to compensate all the losses. This Section shall not prejudice any
        other rights of the Pledgee under this Agreement.

        

	 	 	 
	 	9.2	The Pledgor or Party
    C shall not have any right to terminate this Agreement unilaterally in any event unless otherwise required by the applicable
    laws.

 

    	 

    	 

    

 

	10.	Assignment

 

	 	10.1	Without
    the Pledgee’s prior written consent, neither the Pledgor nor Party C shall assign or delegate its/his rights and obligations
    under this Agreement.

 

	 	10.2	This
    Agreement shall be binding on the Pledgor and his/her successors, heirs (including who inherited the Equity Interest) and
    permitted assigns, and shall be valid with respect to the Pledgee and each of his/her successors, heirs and permitted assigns.

 

	 	10.3	At
    any time, the Pledgee may assign any and all of its rights and obligations under the Transaction Documents and this Agreement
    to its designee(s), in which case the assignees shall have the rights and obligations of the Pledgee under the Transaction
    Documents and this Agreement, as if it were the original party to the Transaction Documents and this Agreement.

 

	 	10.4	In
    the event of change of the Pledgee due to assignment, the Pledgor and/or Party C shall, at the request of the Pledgee, execute
    a new pledge agreement with the new pledgee on the same terms and conditions as this Agreement, and register the same with
    the competent AIC.

 

	 	10.5	The
    Pledgor and Party C shall strictly abide by the provisions of this Agreement and other contracts jointly or separately executed
    by the Parties hereto or any of them, including the Transaction Documents, perform the obligations hereunder and thereunder,
    and refrain from any action/omission that may affect the effectiveness and enforceability thereof. Any remaining rights of
    the Pledgor with respect to the Equity Interest pledged hereunder shall not be exercised by the Pledgor except in accordance
    with the written instructions of the Pledgee.

 

	11.	Termination

 

	 	11.1	Upon
        the fulfillment of all Contract Obligations and the full payment of all Secured Indebtedness by the Pledgor and Party
        C, the Pledgee shall release the Pledge under this Agreement upon the Pledgor’s request as soon as reasonably practicable
        and shall assist the Pledgor in de-registering the Pledge from the shareholders’ register of Party C and with the
        competent PRC local administration for industry and commerce.

         

	 	11.2	The
    provisions under Sections 9, 13, 14 and 11.2 herein of this Agreement shall survive the expiration or termination of this
    Agreement.

 

	12.	Handling Fees and Other
    Expenses

 

All
fees and out of pocket expenses relating to this Agreement, including but not limited to legal costs, costs of production, stamp
tax and any other taxes and fees, shall be borne by Party C.

 

    	 

    	 

    

 

	13.	Confidentiality

 

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

 

	14.	Governing Law and Resolution
    of Disputes

 

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

 

	 	14.2	In
    the event of any dispute with respect to the interpretation and performance of this Agreement, the Parties shall first resolve
    the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute, either Party
    may submit the relevant dispute to the Shenzhen Court of International Arbitration(Shenzhen Arbitration Commission) for arbitration,
    in accordance with the arbitration rules of such arbitration commission effective at that time. The place of the hearing of
    the arbitration shall be Shenzhen. The arbitration award shall be final and binding on both Parties.

 

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

 

	15.	Severability

 

In
the event that one or several of the provisions of this Contract are held to be invalid, illegal or unenforceable in any aspect
in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Contract
shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or
unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions
of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those
invalid, illegal or unenforceable provisions.

 

	16.	Attachments

 

The
attachments set forth herein shall be an integral part of this Agreement.

 

	17.	Effectiveness and Amendments

 

	 	17.1	This
    Agreement shall become effective upon execution by the Parties, until the Contract Obligations have been fully performed and
    the Secured Indebtedness have been fully paid.

 

	 	17.2	Any
    amendment, change and supplement to this Agreement shall be made in writing by all of the Parties. Any amendment agreement
    and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral
    part of this Agreement, and shall have equal legal validity as this Agreement.

 

	18.	Language and Counterparts

 

This
Agreement is written in English in four copies. The Pledgor, the Pledgee and Party C shall hold one copy respectively and the
other copy shall be used for registration.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Equity Interest Pledge Agreement as
of the date first above written.

 

	Pledgee: Jiaxing
    Bangtong Electronic technology Co., Ltd.
	 
	签字:	 
	By:	/s/
    Qi Wang	 
	Name:	Qi
    WANG	 
	Title:	Legal
    Representative	 
	 	 	 
	Pledgor: Xianyi HAO	 
	 	 	 
	签字:	 
	By:	/s/
    Xianyi Hao	 
	 	 	 
	Party C: Shenzhen Bangtong Ecommerce Co., Ltd.
	 	 	 
	By:	/s/
    Xianyi Hao	 
	Name:	Xianyi
    HAO	 
	Title:	Legal
    Representative	 

 

    	 

    	 

    

 

Attachments:

 

	1.	Shareholders’ Register
    of Party C;

 

	2.	The Capital Contribution
    Certificate for Party C;

 

	3.	Exclusive Business Cooperation
    Agreement;

 

	4.	Exclusive Option Agreement;

 

	5.	Loan Agreement

 

	6.	Power of Attorney.

 

    	 

    	 

    

 

Equity
Interest Pledge Agreement

 

This
Exclusive Interest Pledge Agreement (this “Agreement”) is executed by and among the following Parties as of November
6, 2018 in Jiaxing, Zhejiang Province, the People’s Republic of China (“China” or the “PRC”):

 

	Party
    A:	Jiaxing
    Bangtong Electronic technology Co., Ltd. (嘉兴市邦同电子科技有限公司)(hereinafter
    the “Pledgee”), a wholly foreign-owned enterprise, organized and existing under the laws of the PRC, with its
    registered address at ***;

 

	Party
    B:	Nan
    DING(丁楠) (hereinafter the “Pledgor”), a Chinese citizen with Identification No.: ***;

 

	Party
    C:	Shenzhen
    Bangtong Ecommerce Co., Ltd.(深圳市邦同电子商务有限公司),
    a limited liability company organized and existing under the laws of the PRC, with its registered address at ***.

 

In
this Agreement, each of the Pledgee, the Pledgor and Party C shall be hereinafter referred to as a “Party” individually,
and as the “Parties” collectively.

Whereas:

 

	1.	The
    Pledgor is a citizen of China who as of the date hereof holds 2.45% of the equity interests of Party C, representing RMB 300,000
    in the registered capital of Party C. Party C is a limited liability company registered in Shenzhen, China. Party C acknowledges
    the respective rights and obligations of the Pledgor and the Pledgee under this Agreement, and intends to provide any necessary
    assistance in registering the Pledge;

 

	2.	The
    Pledgee is a wholly foreign-owned enterprise registered in China. The Pledgee and Party C have executed an Exclusive Business
    Cooperation Agreement (as defined below); Party C, the Pledgee and the Pledgor have executed an Exclusive Option Agreement
    (as defined below); the Pledgor has executed a Power of Attorney (as defined below) in favor of the Pledgee; and the Pledgee
    and the Pledgor have executed a Loan Agreement (as defined below) as defined below);

 

	3.	To ensure
    that Party C and the Pledgor fully perform their obligations under the Exclusive Business Cooperation Agreement, the Exclusive
    Option Agreement, the Load Agreement and the Power of Attorney, the Pledgor hereby pledges to the Pledgee all of the equity
    interest that the Pledgor holds in Party C as security for Party C’s and the Pledgor’s obligations under the Exclusive
    Business Cooperation Agreement, the Exclusive Option Agreement, the Loan Agreement and the Power of Attorney.

 

    	 

    	 

    

 

To
perform the provisions of the Transaction Documents (as defined below), the Parties have mutually agreed to execute this Agreement
upon the following terms.

 

	1.	Definitions

 

Unless
otherwise provided herein, the terms below shall have the following meanings:

 

	 	1.1	Pledge:
    shall refer to the security interest granted by the Pledgor to the Pledgee pursuant to Section 2 of this Agreement, i.e.,
    the right of the Pledgee to be paid in priority with the Equity Interest based on the monetary valuation that such Equity
    Interest is converted into or from the proceeds from the auction or sale of the Equity Interest.

 

	 	1.2	Equity
    Interest: shall refer to 97.55% equity interests in Party C currently held by the Pledgor, representing RMB11,930,000 in the
    registered capital of Party C, and all of the equity interest hereafter legally acquired by the Pledgor in Party C.

 

	 	1.3	Term
    of the Pledge: shall refer to the term set forth in Section 3 of this Agreement.

 

	 	1.4	Transaction
    Documents: shall refer to the Exclusive Business Cooperation Agreement executed by and between Party C and the Pledgee on
    November 6, 2018, (the “Exclusive Business Cooperation Agreement”),
    the Exclusive Option Agreement executed by and among Party C, the Pledgee and the Pledgor on November
    6, 2018, (the “Exclusive Option Agreement”), the Loan Agreement executed by and between the Pledgee and
    the Pledgor on November 6, 2018, (the “Loan Agreement”), Power of
    Attorney executed on November 6, 2018, by the Pledgor (the “Power of Attorney”)
    and any modification, amendment and restatement to the aforementioned documents.

 

	 	1.5	Contract
    Obligations: shall refer to all the obligations of the Pledgor under the Exclusive Option Agreement, the Power of Attorney,
    the Loan Agreement and this Agreement; all the obligations of Party C under the Exclusive Business Cooperation Agreement,
    the Exclusive Option Agreement and this Agreement.

 

	 	1.6	Secured Indebtedness: shall refer to all the
    direct, indirect and derivative losses and losses of anticipated profits, suffered by the Pledgee, incurred as a result of
    any Event of Default on the part of the Pledgor and/or Party C under the Transaction Documents. The amount of such losses
    shall be calculated based on such factors as the reasonable business plan and profit forecast of the Pledgee, the consulting
    and service fees payable to the Pledgee under the Exclusive Business Cooperation Agreement, damages and relevant fees under
    the Transaction Documents, all expenses occurred by the Pledgee in connection with enforcement of the Pledgor’s and/or
    Party C’s Contract Obligations and etc.
	 	 	 
	 	1.7	Event
        of Default: shall refer to any of the circumstances set forth in Section 7 of this Agreement.

        

        

 

    	 

    	 

    

 

	 	1.8	Notice of Default: shall refer to the notice
    issued by the Pledgee in accordance with this Agreement declaring an Event of Default.

 

	2.	Pledge

 

	 	2.1	The
    Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the
    Secured Indebtedness under this Agreement. Party C hereby assents that the Pledgor pledges the Equity Interest to the
    Pledgee     pursuant to this Agreement.

 

	 	2.2	During
    the term of the Pledge, unless prohibited by the applicable laws and regulations, the Pledgee is entitled to receive dividends
    distributed on the Equity Interest. Without the prior written consent of the Pledgee, the Pledgor shall not receive dividends
    distributed on the Equity Interest. Dividends received by the Pledgor on Equity Interest after the deduction of individual
    income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised
    by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to making
    any other payment; or (2) to the extent not prohibited by the applicable PRC laws, unconditionally donated to the Pledgee
    or any other person designated by the Pledgee in the manner permitted by the PRC laws.

 

	 	2.3	The
    Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any additional equity
    interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the
    Company shall also be deemed as Equity Interest, and the Parties shall enter into further equity pledge agreement for this
    purpose and complete registration of the pledge of such additional equity interest.

 

	 	2.4	In
        the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to the Pledgor upon
        Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designated
        and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in
        preference to make any other payment; or (2) to the extent not prohibited by PRC laws, unconditionally donated to the
        Pledgee or any other person designated by the Pledgee in the manner permitted by the applicable PRC laws.

        

 

	3.	Term of the Pledge

 

	 	3.1	The
    Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with the
    relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract
    Obligations have been fully performed and all Secured Indebtedness has been fully paid. The Pledgor and Party C shall (1)
    register the Pledge in the shareholders’ register of Party C within 7 business days following the execution of this
    Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated
    herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration
    of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity
    interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information
    of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the
    Parties shall be bound by the provisions of this Agreement. The Pledgor and Party C shall submit all necessary documents and
    complete all necessary procedures, as required by the relevant PRC laws and regulations and the competent AIC, to ensure that
    the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing.

 

    	 

    	 

    

 

	 	3.2	During
    the Term of the Pledge, in the event the Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness,
    the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this
    Agreement.

 

	4.	Custody of Records for
    Equity Interest subject to the Pledge

 

	 	4.1	During
    the Term of the Pledge set forth in this Agreement, the Pledgor shall deliver to the Pledgee’s custody the capital contribution
    certificate for the Equity Interest and the shareholders’ register containing the Pledge within one week from the execution
    of this Agreement. The Pledgee shall have custody of such documents during the entire Term of the Pledge set forth in this
    Agreement.

 

	5.	Representations and Warranties
    of the Pledgor and Party C

 

As
of the execution date of this Agreement, the Pledgor and Party C hereby jointly and severally represent and warrant to the Pledgee
that:

 

	 	5.1	The
    Pledgor is the sole legal and beneficial owner of the Equity Interest. The Pledgee shall have the right to dispose of and
    transfer the Equity Interest in accordance with the provisions set forth in this Agreement.

 

	 	5.2	Each
    of the Pledgor and Party C has the power, capacity and authority to execute and deliver this Agreement, and to perform it/his
    obligations under this Agreement. This Agreement constitutes the Pledgor’s and Party C’s legal, valid and binding
    obligations and shall be enforceable against them in accordance with the provisions thereof.

 

	 	5.3	Except
    for the Pledge, the Pledgor has not placed any security interest or other encumbrance on the Equity Interest.

 

	 	5.4	The
        Pledgor and Party C have obtained any and all approvals and consents from the applicable government authorities and third
        parties (if required) for the execution, delivery and performance of this Agreement.

        

 

    	 

    	 

    

 

	 	5.5	The
    execution, delivery and performance of this Agreement will not: (i) violate any relevant PRC laws; (ii) conflict with Party
    C’s articles of association or other constitutional documents; (iii) result in any breach of or constitute any default
    under any contract or document to which it is a party or by which it is otherwise bound; (iv) result in any violation of any
    condition for the grant and/or maintenance of any permit or approval granted to any Party; or (v) cause any permit or approval
    granted to any Party to be suspended, cancelled or attached with additional conditions.

 

	6.	Covenants of the Pledgor
    and Party C

 

	 	6.1	During
    the term of this Agreement, the Pledgor and Party C hereby jointly and severally covenant to the Pledgee:

 

	 	6.1.1	The
    Pledgor shall not transfer the Equity Interest, place or permit the existence of any security interest or other encumbrance
    on the Equity Interest or any portion thereof, without the prior written consent of the Pledgee, except for the performance
    of the Transaction Documents; Party C shall not assent to or assist in the aforesaid behaviors;

 

	 	6.1.2	The
    Pledgor and Party C shall comply with and carry out all requirements under applicable laws and regulations relating to pledge,
    and within five (5) days of receipt of any notice, order or recommendation issued or made by the competent authorities regarding
    the Pledge (if any), shall present the aforementioned notice, order or recommendation to the Pledgee, and shall comply with
    the aforementioned notice, order or recommendation or submit objections and representations with respect to the aforementioned
    matters upon the Pledgee’s reasonable request or upon consent of the Pledgee;

 

	 	6.1.3	Each
    of the Pledgor and Party C shall promptly notify the Pledgee of any event or notice received by it that may have an impact
    on the Equity Interest (or any portion thereof,) as well as any event or notice received by it that may have an impact on
    any guarantees and obligations of the Pledgor under this Agreement or the performance of obligations of the Pledgor under
    this Agreement;

 

	 	6.1.4	Party
    C shall complete the registration procedures for the extension of the operation term within three (3) months prior to the
    expiration of such term to maintain the validity of this Agreement.

 

	 	6.2	The
        Pledgor agrees that the rights acquired by the Pledgee in accordance with this Agreement with respect to the Pledge shall
        not be interrupted or harmed by the Pledgor or any, successors, heirs or representatives of the Pledgor or any other persons
        through any legal proceedings.

        

	 	 	 
	 	6.3	To protect or perfect
    the security interest granted by this Agreement for the Contract Obligations and Secured Indebtedness, the Pledgor hereby
    undertakes to execute in good faith and to cause other parties who have an interest in the Pledge to execute all certificates,
    agreements, deeds and/or covenants required by the Pledgee. The Pledgor also undertakes to perform and to cause other parties
    who have an interest in the Pledge to perform actions required by the Pledgee, to facilitate the exercise by the Pledgee of
    its rights and authority granted thereto by this Agreement, and to enter into all relevant documents regarding ownership of
    Equity Interest with the Pledgee or designee(s) of the Pledgee (natural persons/legal persons). The Pledgor undertakes to
    provide the Pledgee within a reasonable time with all notices, the orders and decisions regarding the Pledge that are required
    by the Pledgee.

 

    	 

    	 

    

 

	 	6.4	The
    Pledgor hereby undertakes to comply with and perform all guarantees, promises, agreements, representations and conditions
    under this Agreement. In the event of failure or partial performance of its guarantees, promises, agreements, representations
    and conditions, the Pledgor shall indemnify the Pledgee for all losses resulting therefrom.

 

	7.	Event of Breach

 

	 	7.1	The
    following circumstances shall be deemed an Event of Default:

 

	 	7.1.1	The
    Pledgor’s any breach to any obligations under the Transaction Documents and/or this Agreement.

 

	 	7.1.2	Party
    C’s any breach to any obligations under the Transaction Documents and/or this Agreement.

 

	 	7.2	Upon
    notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described
    in Section 7.1, the Pledgor and Party C shall immediately notify the Pledgee in writing accordingly.

 

	 	7.3	Unless
    an Event of Default set forth in Section 7.1 has been successfully resolved to the Pledgee’s satisfaction within twenty
    (20) days after the Pledgee and/or Party C delivers a notice to the Pledgor requesting ratification of such Event of Default,
    the Pledgee may issue a Notice of Default to the Pledgor in writing at any time thereafter, demanding the Pledgor to immediately
    exercise the Pledge in accordance with the provisions of Section 8 of this Agreement.

 

	8.	Exercise of the Pledge

 

	 	8.1	The
    Pledgee shall issue a written Notice of Default to the Pledgor when it exercises the Pledge.

 

	 	8.2	Subject
    to the provisions of Section 7.3, the Pledgee may exercise the right to enforce the Pledge at any time after the issuance
    of the Notice of Default in accordance with Section 8.1.

 

	 	8.3	After
    the Pledgee issues a Notice of Default to the Pledgor in accordance with Section 8.1, the Pledgee may exercise any remedy
    measure under the applicable PRC laws, the Transaction Documents and this Agreement, including but not limited to being paid
    in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the
    proceeds from the auction or sale of the Equity Interest. The Pledgee shall not be liable for any loss incurred by its duly
    exercise of such rights and powers.

 

    	 

    	 

    

 

	 	8.4	The
    proceeds from the exercise of the Pledge by the Pledgee shall be used to pay for the taxes and expenses incurred as a result
    of disposing the Equity Interest and to perform the Contract Obligations and pay the Secured Indebtedness to the Pledgee prior
    and in preference to any other payment. After the payment of the aforementioned amounts, the remaining balance shall be returned
    to the Pledgor or any other person who have rights to such balance under applicable laws or be deposited to the local notary
    public office where the Pledgor resides, with all expenses incurred being borne by the Pledgor. To the extent not prohibited
    by the applicable PRC laws, the Pledgor shall unconditionally donate the aforementioned proceeds to the Pledgee or any other
    person designated by the Pledgee in the manner permitted by the PRC laws.

 

	 	8.5	The
    Pledgee may exercise any remedy measure available to it simultaneously or in any order. The Pledgee may exercise the priority
    right in compensation based on the monetary valuation that such Equity Interest is converted into or with the proceeds from
    the auction or sale of the Equity Interest under this Agreement, without being required to exercise any other remedy measure
    first.

 

	 	8.6	The
    Pledgee is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf, and the Pledgor
    or Party C shall not raise any objection to such exercise.

 

	 	8.7	When
    the Pledgee disposes of the Pledge in accordance with this Agreement, the Pledgor and Party C shall provide the necessary
    assistance to enable the Pledgee to enforce the Pledge in accordance with this Agreement.

 

	9.	Breach of Agreement

 

	 	9.1	If
        the Pledgor or Party C materially breaches any provision under this Agreement, or fails to perform, performs incompletely
        or delays to perform any obligation under this Agreement, it shall constitute a breach under this Agreement on the part
        of the Pledgor or Party C (as the case may be). The Pledgee is entitled to require the Pledgor or Party C to rectify or
        take remedial measures. If within ten (10) days after the Pledgee delivers a written notice to the Pledgor or Party C
        and requires for rectification (or within any other reasonable period required by the Pledgee), the Pledgor or Party C
        (as the case may be) fails to rectify or take remedial measures, the Pledgee is entitled to, at its sole discretion, (1)
        terminate this Agreement and require the Pledgor or Party C (as the case may be) to compensate all the losses; or (2)
        require specific performance of the obligations of the Pledgor or Party C (as the case may be) under this Agreement and
        require the Pledgor or Party C (as the case may be) to compensate all the losses. This Section shall not prejudice any
        other rights of the Pledgee under this Agreement.

        

	 	 	 
	 	9.2	The Pledgor or Party
    C shall not have any right to terminate this Agreement unilaterally in any event unless otherwise required by the applicable
    laws.

 

    	 

    	 

    

 

	10.	Assignment

 

	 	10.1	Without
    the Pledgee’s prior written consent, neither the Pledgor nor Party C shall assign or delegate its/his rights and obligations
    under this Agreement.

 

	 	10.2	This
    Agreement shall be binding on the Pledgor and his/her successors, heirs (including who inherited the Equity Interest) and
    permitted assigns, and shall be valid with respect to the Pledgee and each of his/her successors, heirs and permitted assigns.

 

	 	10.3	At any
    time, the Pledgee may assign any and all of its rights and obligations under the Transaction Documents and this Agreement
    to its designee(s), in which case the assignees shall have the rights and obligations of the Pledgee under the Transaction
    Documents and this Agreement, as if it were the original party to the Transaction Documents and this Agreement.

 

	 	10.4	In the
    event of change of the Pledgee due to assignment, the Pledgor and/or Party C shall, at the request of the Pledgee, execute
    a new pledge agreement with the new pledgee on the same terms and conditions as this Agreement, and register the same with
    the competent AIC.

 

	 	10.5	The
    Pledgor and Party C shall strictly abide by the provisions of this Agreement and other contracts jointly or separately executed
    by the Parties hereto or any of them, including the Transaction Documents, perform the obligations hereunder and thereunder,
    and refrain from any action/omission that may affect the effectiveness and enforceability thereof. Any remaining rights of
    the Pledgor with respect to the Equity Interest pledged hereunder shall not be exercised by the Pledgor except in accordance
    with the written instructions of the Pledgee.

 

	11.	Termination

 

	 	11.1	Upon
        the fulfillment of all Contract Obligations and the full payment of all Secured Indebtedness by the Pledgor and Party
        C, the Pledgee shall release the Pledge under this Agreement upon the Pledgor’s request as soon as reasonably practicable
        and shall assist the Pledgor in de-registering the Pledge from the shareholders’ register of Party C and with the
        competent PRC local administration for industry and commerce.

        

	 	 	 
	 	11.2	The provisions under
    Sections 9, 13, 14 and 11.2 herein of this Agreement shall survive the expiration or termination of this Agreement.

 

	12.	Handling Fees and Other
    Expenses

 

All
fees and out of pocket expenses relating to this Agreement, including but not limited to legal costs, costs of production, stamp
tax and any other taxes and fees, shall be borne by Party C.

 

    	 

    	 

    

 

	13.	Confidentiality

 

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

 

	14.	Governing Law and Resolution
    of Disputes

 

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

 

	 	14.2	In the
    event of any dispute with respect to the interpretation and performance of this Agreement, the Parties shall first resolve
    the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute, either Party
    may submit the relevant dispute to the Shenzhen Court of International Arbitration(Shenzhen Arbitration Commission) for arbitration,
    in accordance with the arbitration rules of such arbitration commission effective at that time. The place of the hearing of
    the arbitration shall be Shenzhen. The arbitration award shall be final and binding on both Parties.

 

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

 

	15.	Severability

 

In
the event that one or several of the provisions of this Contract are held to be invalid, illegal or unenforceable in any aspect
in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Contract
shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or
unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions
of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those
invalid, illegal or unenforceable provisions.

 

	16.	Attachments

 

The
attachments set forth herein shall be an integral part of this Agreement.

 

	17.	Effectiveness and Amendments

 

	 	17.1	This
    Agreement shall become effective upon execution by the Parties, until the Contract Obligations have been fully performed and
    the Secured Indebtedness have been fully paid.

 

	 	17.2	Any
    amendment, change and supplement to this Agreement shall be made in writing by all of the Parties. Any amendment agreement
    and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral
    part of this Agreement, and shall have equal legal validity as this Agreement.

 

	18.	Language and Counterparts

 

This
Agreement is written in English in four copies. The Pledgor, the Pledgee and Party C shall hold one copy respectively and the
other copy shall be used for registration.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Equity Interest Pledge Agreement as
of the date first above written.

 

	Pledgee: Jiaxing Bangtong Electronic technology Co., Ltd.
	 	 	 
	签字:	 
	By:	/s/
    Qi Wang	 
	Name:	Qi
    WANG	 
	Title:	Legal
    Representative	 
	 	 	 
	Pledgor: Nan DING	 
	 	 	 
	签字:	 
	By:	/s/
    Nan Ding	 
	 	 	 
	Party C: Shenzhen Bangtong Ecommerce Co., Ltd.
	 	 	 
	By:	/s/
    Xianyi Hao	 
	Name:

        Title:

        
	Xianyi
        HAO

        Legal
        Representative
	 

 

    	 

    	 

    

  

Attachments:

 

	1.	Shareholders’ Register
    of Party C;

 

	2.	The Capital Contribution
    Certificate for Party C;

 

	3.	Exclusive Business Cooperation
    Agreement;

 

	4.	Exclusive Option Agreement;

 

	5.	Loan Agreement

 

	6.	Power of Attorney.Exhibit
10.3

 

Power
of Attorney

 

Date:
November 6, 2018

 

I,
Xianyi HAO(郝显义) , a citizen of the People’s Republic of China (“China” or the “PRC”)
whose Identification Card No. is ***, and a holder of 97.55% of the registered capital of Shenzhen
Bangtong Ecommerce Co., Ltd.(深圳市邦同电子商务有限公司)(the
“Bangtong Ecommerce”) as of the date of this Power of Attorney, hereby irrevocably authorize and entrust Jiaxing
Bangtong Electronic technology Co., Ltd. (嘉兴市邦同电子科技有限公司)
(the “WFOE”) to exercise the following rights and handle the following matters
on my behalf relating to all equity interests held by me now and in the future in Bangtong Ecommerce (the “My Shareholding”),
during the term of this Power of Attorney:

 

The
WFOE is hereby authorized, as my sole and exclusive agent and attorney, to act on behalf of myself with respect to all rights
and matters concerning My Shareholding, including without limitation to: 1) convening and attending shareholders’ meetings
of Bangtong Ecommerce; 2) exercising all of the shareholder’s rights and shareholder’s voting rights that I am entitled
to under the laws of China and the articles of association of Bangtong Ecommerce; 3) handling the sale, transfer, pledge or disposition
of My Shareholding (in part or in whole), including without limitation executing all necessary equity transfer documents and other
documents for disposal of My Shareholding and fulfilling all necessary procedures; 4) representing myself in executing any resolutions
and minutes as a shareholder of Bangtong Ecommerce on my behalf; 5) nominating, electing, designating, appointing or removing
on behalf of myself the legal representative, directors, supervisors, general managers, chief executive officer and other senior
management members of Bangtong Ecommerce; and 6) approving the amendments to the company’s articles of association. Without
written consent by WFOE, I have no right to increase, decrease, transfer, pledge, or by any other manner to dispose or change
My Shareholding.

 

Without
limiting the generality of the powers granted hereunder, the WFOE shall have the power and authority to, on behalf of myself,
execute all and any supplementary agreements, ancillary documents, modifications, and/or amended and restated versions in relation
to the Exclusive Option Agreement, Equity Interest Pledge Agreement, Exclusive Business Cooperation Agreement and Loan Agreement
dated November 6, 2018, by and among WFOE, Bangtong Ecommerce and/or myself, and any documents and agreements I shall sign as
required in the aforesaid agreements (including without limitation the “Transfer Contract” for the transfer of the
“Optioned Interests” as described under the Exclusive Option Agreement), and perform the obligations under the aforesaid
documents and agreements.

 

All
the actions associated with My Shareholding conducted by the WFOE shall be deemed as my own actions, and all the documents related
to My Shareholding executed by the WFOE shall be deemed to be executed by me. I hereby acknowledge and ratify the actions taken
by the WFOE and the documents executed by the WFOE in relation to My Shareholding.

 

    	 

    	 

    

 

I
hereby agree that the WFOE has the right to re-authorize or assign one or multiple matters and its rights related to such matters
under this Power of Attorney to any other person or entity at its own discretion and without obtaining my prior consent. If required
by PRC laws, the WFOE shall designate a qualified PRC citizen to handle such matters and exercise such rights as set forth in
this Power of Attorney.

 

This
Power of Attorney takes effect as of the date hereof. During the period that I am a shareholder of Bangtong Ecommerce, this Power
of Attorney shall be irrevocable and continuously effective and valid from the date of execution of this Power of Attorney.

 

During
the term of this Power of Attorney, I hereby waive all the rights associated with My Shareholding, which have been authorized
to the WFOE through this Power of Attorney, and shall not exercise such rights by myself.

 

	 	By:	/s/
    Xianyi Hao
	 	Name:	Xianyi
    HAO

 

	Witness:	/s/
    Yuzhu Du	 
	Name:	Yuzhu
    DU (杜玉珠)	 

 

	Accepted
    by:	 
	 	 
	Jiaxing
Bangtong Electronic technology Co., Ltd.

 (嘉兴市邦同电子科技有限公司)	 

 

	By:	/s/
    Qi Wang	 
	Name:	Qi
    WANG	 
	Title:	Legal
    Representative	 

 

	Acknowledged
    by:	 
	 	 
	Shenzhen
Bangtong Ecommerce Co., Ltd.

(深圳市邦同电子商务有限公司)	 

 

	By:	/s/
                                         Xianyi Hao
	 
	Name:	Xianyi
    HAO	 
	Title:	Legal
    Representative	 

 

    	 

    	 

    

 

Power
of Attorney

 

Date:
November 6, 2018

 

I,
Nan DING(丁楠) , a citizen of the People’s Republic of China (“China” or the “PRC”)
whose Identification Card No. is ***, and a holder of 2.45% of the registered capital of Shenzhen
Bangtong Ecommerce Co., Ltd.(深圳市邦同电子商务有限公司)(the
“Bangtong Ecommerce”) as of the date of this Power of Attorney, hereby irrevocably authorize and entrust Jiaxing
Bangtong Electronic technology Co., Ltd. (嘉兴市邦同电子科技有限公司)
(the “WFOE”) to exercise the following rights and handle the following matters
on my behalf relating to all equity interests held by me now and in the future in Bangtong Ecommerce (the “My Shareholding”),
during the term of this Power of Attorney:

 

The
WFOE is hereby authorized, as my sole and exclusive agent and attorney, to act on behalf of myself with respect to all rights
and matters concerning My Shareholding, including without limitation to: 1) convening and attending shareholders’ meetings
of Bangtong Ecommerce; 2) exercising all of the shareholder’s rights and shareholder’s voting rights that I am entitled
to under the laws of China and the articles of association of Bangtong Ecommerce; 3) handling the sale, transfer, pledge or disposition
of My Shareholding (in part or in whole), including without limitation executing all necessary equity transfer documents and other
documents for disposal of My Shareholding and fulfilling all necessary procedures; 4) representing myself in executing any resolutions
and minutes as a shareholder of Bangtong Ecommerce on my behalf; 5) nominating, electing, designating, appointing or removing
on behalf of myself the legal representative, directors, supervisors, general managers, chief executive officer and other senior
management members of Bangtong Ecommerce; and 6) approving the amendments to the company’s articles of association. Without
written consent by WFOE, I have no right to increase, decrease, transfer, pledge, or by any other manner to dispose or change
My Shareholding.

 

Without
limiting the generality of the powers granted hereunder, the WFOE shall have the power and authority to, on behalf of myself,
execute all and any supplementary agreements, ancillary documents, modifications, and/or amended and restated versions in relation
to the Exclusive Option Agreement, Equity Interest Pledge Agreement, Exclusive Business Cooperation Agreement and Loan Agreement
dated November 6, 2018, by and among WFOE, Bangtong Ecommerce and/or myself, and any documents and agreements I shall sign as
required in the aforesaid agreements (including without limitation the “Transfer Contract” for the transfer of the
“Optioned Interests” as described under the Exclusive Option Agreement), and perform the obligations under the aforesaid
documents and agreements.

 

All
the actions associated with My Shareholding conducted by the WFOE shall be deemed as my own actions, and all the documents related
to My Shareholding executed by the WFOE shall be deemed to be executed by me. I hereby acknowledge and ratify the actions taken
by the WFOE and the documents executed by the WFOE in relation to My Shareholding.

 

I
hereby agree that the WFOE has the right to re-authorize or assign one or multiple matters and its rights related to such matters
under this Power of Attorney to any other person or entity at its own discretion and without obtaining my prior consent. If required
by PRC laws, the WFOE shall designate a qualified PRC citizen to handle such matters and exercise such rights as set forth in
this Power of Attorney.

 

    	 

    	 

    

 

This
Power of Attorney takes effect as of the date hereof. During the period that I am a shareholder of Bangtong Ecommerce, this Power
of Attorney shall be irrevocable and continuously effective and valid from the date of execution of this Power of Attorney.

 

During
the term of this Power of Attorney, I hereby waive all the rights associated with My Shareholding, which have been authorized
to the WFOE through this Power of Attorney, and shall not exercise such rights by myself.

 

	 	By:	/s/
    Nan Ding
	 	Name:	Nan
    DING

 

	Witness:	/s/
    Yuzhu Du	 
	Name:	Yuzhu
    DU (杜玉珠)	 

 

	Accepted
    by:	 
	 	 
	Jiaxing
    Bangtong Electronic technology Co., Ltd.

 (嘉兴市邦同电子科技有限公司)	 

 

	By:	/s/
    Qi Wang	 
	Name:	Qi
    WANG	 
	Title:	Legal
    Representative	 

 

	Acknowledged
    by:	 
	 	 
	Shenzhen
    Bangtong Ecommerce Co., Ltd.

(深圳市邦同电子商务有限公司)	 

 

	By:	/s/ Xianyi Hao	 
	Name:	Xianyi
    HAO	 
	Title:	Legal
    Representative

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}]]