Document:

Exhibit 10.2

 

INDEMNIFICATION AGREEMENT

 

This
Indemnification Agreement (this “Agreement”) is entered into as of [*], 2022 by
and between U Power Limited, a Cayman Islands company (the “Company”), and the undersigned, a director and/or an
officer of the Company (“Indemnitee”), as applicable. 

 

RECITALS

 

The Board of Directors
of the Company (the “Board of Directors”) has determined that the inability to attract and retain highly competent
persons to serve the Company is detrimental to the best interests of the Company and its shareholders and that it is reasonable and necessary
for the Company to provide adequate protection to such persons against risks of claims and actions against them arising out of their services
to the corporation.

 

AGREEMENT

 

In consideration
of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

A. DEFINITIONS

 

The following terms shall have the meanings defined below:

 

Expenses
shall include, without limitation, damages, judgments, fines, penalties, settlements and costs, attorneys’ fees and disbursements
and costs of attachment or similar bond, investigations, and any other expenses paid or incurred in connection with investigating, defending,
being a witness in, participating in (including on appeal), or preparing for any of the foregoing in, any Proceeding.

 

Indemnifiable
Event means any event or occurrence that takes place either before or after the execution of this Agreement, related to the fact
that Indemnitee is or was a director or an officer of the Company, or is or was serving at the request of the Company as a director or
officer of another corporation, partnership, joint venture or other entity, or related to anything done or not done by Indemnitee in any
such capacity, including, but not limited to neglect, breach of duty, error, misstatement, misleading statement or omission.

 

Participant means a person
who is a party to, or witness or participant (including on appeal) in, a Proceeding.

 

Proceeding
means any threatened, pending, or completed action, suit, arbitration or proceeding, or any inquiry, hearing or investigation, whether
civil, criminal, administrative, investigative or other, including appeal, in which Indemnitee may be or may have been involved as a party
or otherwise by reason of an Indemnifiable Event.

 

B. AGREEMENT TO INDEMNIFY

 

1. General Agreement.
In the event Indemnitee was, is, or becomes a Participant in, or is threatened to be made a Participant in, a Proceeding, the Company
shall indemnify Indemnitee from and against any and all Expenses which Indemnitee incurs or becomes obligated to incur in connection with
such Proceeding, to the fullest extent permitted by applicable law.

 

2. Indemnification
of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful
on the merits in defense of any Proceeding or in defense of any claim, issue or matter in such Proceeding, the Company shall indemnify
Indemnitee against all Expenses incurred in connection with such Proceeding or such claim, issue or matter, as the case may be.

 

     

     

    

 

3. Partial Indemnification.
If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for a portion of Expenses, but not for
the total amount of Expenses, the Company shall indemnify Indemnitee for the portion of such Expenses to which Indemnitee is entitled.

 

4. No Employment
Rights. Nothing in this Agreement is intended to create in Indemnitee any right to continued employment with the Company.

  

5. Contribution.
If the indemnification provided in this Agreement is unavailable and may not be paid to Indemnitee for any reason other than those set
forth in Section B.4, then the Company shall contribute to the amount of Expenses paid in settlement actually and reasonably incurred
and paid or payable by Indemnitee in such proportion as is appropriate to reflect (i) the relative benefits received by the Company on
the one hand and by Indemnitee on the other hand from the transaction or events from which such Proceeding arose, and (ii) the relative
fault of the Company on the one hand and of Indemnitee on the other hand in connection with the events which resulted in such Expenses,
as well as any other relevant equitable considerations. The relative fault of the Company on the one hand and of Indemnitee on the other
hand shall be determined by reference to, among other things, the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent the circumstances resulting in such Expenses, judgments, fines or settlement amounts. The Company agrees
that it would not be just and equitable if contribution pursuant to this Section B.5 were determined by pro rata allocation or any other
method of allocation which does not take account of the foregoing equitable considerations.

 

C. INDEMNIFICATION PROCESS

 

1. Notice and
Cooperation by Indemnitee. Indemnitee shall, as a condition precedent to their right to be indemnified under this Agreement, give
the Company notice in writing as soon as practicable of any claim made against Indemnitee for which indemnification will or could be sought
under this Agreement, provided that the delay of Indemnitee to give notice hereunder shall not prejudice any of Indemnitee’s rights
hereunder, unless such delay results in the Company’s forfeiture of substantive rights or defenses. Notice to the Company shall
be given in accordance with Section F.7 below. If, at the time of receipt of such notice, the Company has directors’ and officers’
liability insurance policies in effect, the Company shall give prompt notice to its insurers of the Proceeding relating to the notice.
The Company shall thereafter take all necessary and desirable actions to cause such insurers to pay, on behalf of Indemnitee, all Expenses
payable as a result of such Proceeding. In addition, Indemnitee shall give the Company such information and cooperation as the Company
may reasonably request.

 

2. Indemnification Payment.

 

(a) Advancement
of Expenses. Indemnitee may submit a written request with reasonable particulars to the Company requesting that the Company advance
to Indemnitee all Expenses that may be reasonably incurred in advance by Indemnitee in connection with a Proceeding. The Company shall,
within 10 business days of receiving such a written request by Indemnitee, advance all requested Expenses to Indemnitee. Any excess of
the advanced Expenses over the actual Expenses will be repaid to the Company.

 

(b) Reimbursement
of Expenses. To the extent Indemnitee has not requested any advanced payment of Expenses from the Company, Indemnitee shall be entitled
to receive reimbursement for the Expenses incurred in connection with a Proceeding from the Company immediately after Indemnitee makes
a written request to the Company for reimbursement unless the Company refers the indemnification request to the Reviewing Party in compliance
with Section C.2(c) below.

 

(c) Determination
by the Reviewing Party. If the Company reasonably believes that it is not obligated under this Agreement to indemnify Indemnitee,
the Company shall, within 10 days after Indemnitee’s written request for an advancement or reimbursement of Expenses, notify Indemnitee
that the request for advancement of Expenses or reimbursement of Expenses will be submitted to the Reviewing Party (as hereinafter defined).
The Reviewing Party shall make a determination on the request within 30 days after Indemnitee’s written request for an advancement
or reimbursement of Expenses. Notwithstanding anything foregoing to the contrary, in the event the Reviewing Party informs the Company
that Indemnitee is not entitled to indemnification in connection with a Proceeding under this Agreement or applicable law, the Company
shall be entitled to be reimbursed by Indemnitee for all the Expenses previously advanced or otherwise paid to Indemnitee in connection
with such Proceeding; provided, however, that Indemnitee may bring a suit to enforce their indemnification right in accordance
with Section C.3 below.

 

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3. Suit to Enforce
Rights. Regardless of any action by the Reviewing Party, if Indemnitee has not received full indemnification within 30 days after
making a written demand in accordance with Section C.2 above or 50 days if the Company submits a request for advancement or reimbursement
to the Reviewing Party under Section C.2(c) above, Indemnitee shall have the right to enforce its indemnification rights under this Agreement
by commencing litigation in any court of competent jurisdiction seeking a determination by the court or challenging any determination
by the Reviewing Party or any aspect of this Agreement. Any determination by the Reviewing Party not challenged by Indemnitee and any
judgment entered by the court shall be binding on the Company and Indemnitee.

  

4. Assumption
of Defense. In the event the Company is obligated under this Agreement to advance or bear any Expenses for any Proceeding against
Indemnitee, the Company shall be entitled to assume the defense of such Proceeding, with counsel approved by Indemnitee, upon delivery
to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the
retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same Proceeding, unless (i) the employment of counsel by Indemnitee has been previously authorized
by the Company, (ii) Indemnitee shall have reasonably concluded, based on written advice of counsel, that there may be a conflict of interest
of such counsel retained by the Company between the Company and Indemnitee in the conduct of any such defense, or (iii) the Company ceases
or terminates the employment of such counsel with respect to the defense of such Proceeding, in any of which events the fees and expenses
of Indemnitee’s counsel shall be at the expense of the Company. At all times, Indemnitee shall have the right to employ counsel
in any Proceeding at Indemnitee’s expense.

 

5. Defense to
Indemnification, Burden of Proof and Presumptions. It shall be a defense to any action brought by Indemnitee against the Company to
enforce this Agreement that it is not permissible under this Agreement or applicable law for the Company to indemnify Indemnitee for the
amount claimed. In connection with any such action or any determination by the Reviewing Party or otherwise as to whether Indemnitee is
entitled to be indemnified under this Agreement, the burden of proving such a defense or determination shall be on the Company.

 

6. No Settlement
without Consent. Neither party to this Agreement shall settle any Proceeding in any manner that would impose any damage, loss, penalty
or limitation on Indemnitee without the other party’s written consent. Neither the Company nor Indemnitee shall unreasonably withhold
its consent to any proposed settlement.

 

7. Company Participation.
Subject to Section B.5, the Company shall not be liable to indemnify Indemnitee under this Agreement with regard to any judicial action
if the Company was not given a reasonable and timely opportunity, at its expense, to participate in the defense, conduct and/or settlement
of such action.

 

8. Reviewing Party.

 

(a) For purposes
of this Agreement, the Reviewing Party with respect to each indemnification request of Indemnitee that is referred by the Company pursuant
to Section C.2(c) above shall be (A) the Board of Directors by a majority vote of a quorum consisting of Disinterested Directors (as hereinafter
defined), or (B) if a quorum of the Board of Directors consisting of Disinterested Directors is not obtainable or, even if obtainable,
said Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be
delivered to Indemnitee. If the Reviewing Party determines that Indemnitee is entitled to indemnification, payment to Indemnitee shall
be made within 10 days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination
with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable
advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary to such determination. Any Independent Counsel or member of the Board of Directors shall
act reasonably and in good faith in making a determination under this Agreement of Indemnitee’s entitlement to indemnification.
Any reasonable costs or expenses (including reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating
with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s
entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is
sought by Indemnitee.

 

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(b) If the determination
of entitlement to indemnification is to be made by Independent Counsel, the Independent Counsel shall be selected as provided in this
Section C.8(b). The Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by
the Board of Directors, in which event the proceeding sentence shall apply), and Indemnitee shall give written notice to the Company advising
it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within
10 days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written
objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent
Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section C.8(d) of this Agreement,
and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person
so selected shall act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not
serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit.
If, within 20 days after submission by Indemnitee of a written request for indemnification, no Independent Counsel shall have been selected
and not objected to, either the Company or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which
shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as
Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect
to whom all objections are so resolved or the person so appointed shall act as Independent Counsel. The Company shall pay any and all
reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting under this Agreement,
and the Company shall pay all reasonable fees and expenses incident to the procedures of this Section C.8(b), regardless of the manner
in which such Independent Counsel was selected or appointed.

 

(c) In making
a determination with respect to entitlement to indemnification hereunder, the Reviewing Party shall presume that Indemnitee is entitled
to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with this Agreement, and
the Company shall have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity
of any determination contrary to that presumption. The termination of any Proceeding or of any claim, issue or matter therein, by judgment,
order, settlement (with or without court approval), conviction, or upon a plea of nolo contendere or its equivalent, shall not
(except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create
a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to
the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s
conduct was unlawful. For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s
action is based on the records or books of account of the Company and any other corporation, partnership, joint venture or other entity
of which Indemnitee is or was serving at the written request of the Company as a director, officer, employee, agent or fiduciary, including
financial statements, or on information supplied to Indemnitee by the officers and directors of the Company or such other corporation,
partnership, joint venture or other entity in the course of their duties, or on the advice of legal counsel for the Company or such other
corporation, partnership, joint venture or other entity or on information or records given or reports made to the Company or such other
corporation, partnership, joint venture or other entity by an independent certified public accountant or by an appraiser or other expert
selected with reasonable care by the Company or such other corporation, partnership, joint venture or other entity. In addition, the knowledge
and/or actions, or failure to act, of any director, officer, agent or employee of the Company or such other corporation, partnership,
joint venture or other entity shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.
The provisions of this Section C.8(c) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee
may be deemed to have met the applicable standard of conduct set forth in this Agreement.

 

(d) “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
is, nor in the past five years has been, retained to represent (i) the Company or Indemnitee in any matter material to either such party
(other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification
agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing,
the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s
rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above and to fully indemnify
such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement
pursuant hereto.

 

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D. DIRECTOR AND OFFICER LIABILITY INSURANCE

 

1. Good Faith
Determination. The Company shall from time to time make the good faith determination whether or not it is practicable for the Company
to obtain and maintain a policy or policies of insurance with reputable insurance companies providing the officers and directors of the
Company with coverage for losses incurred in connection with their services to the Company or to ensure the Company’s performance
of its indemnification obligations under this Agreement.

 

2. Coverage of
Indemnitee. To the extent the Company maintains an insurance policy or policies providing directors’ and officers’ liability
insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the
coverage available for any of the Company’s directors or officers.

 

3. No Obligation.
Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain any director and officer insurance policy if
the Company determines in good faith that such insurance is not reasonably available in the case that (i) premium costs for such insurance
are disproportionate to the amount of coverage provided, or (ii) the coverage provided by such insurance is limited by exclusions so as
to provide an insufficient benefit.

  

E. NON-EXCLUSIVITY; U.S. FEDERAL PREEMPTION; TERM

 

1. Non-Exclusivity.
The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled under the
Company’s current memorandum and articles of association, as may be amended from time to time, applicable law or any written agreement
between Indemnitee and the Company (including its subsidiaries and affiliates). The indemnification provided under this Agreement shall
continue to be available to Indemnitee for any action taken or not taken while serving in an indemnified capacity even though Indemnitee
may have ceased to serve in any such capacity at the time of any Proceeding.

 

2. U.S. Federal
Preemption. Notwithstanding the foregoing, both the Company and Indemnitee acknowledge that in certain instances, U.S. federal law
or public policy may override applicable law and prohibit the Company from indemnifying its directors and officers under this Agreement
or otherwise. Such instances include, but are not limited to, the prohibition by the U.S. Securities and Exchange Commission (the “SEC”)
on indemnification for liabilities arising under certain U.S. federal securities laws. Indemnitee understands and acknowledges that the
Company has undertaken or may be required in the future to undertake with the SEC an obligation to submit the question of indemnification
to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee.

 

3. Duration of
Agreement. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is an officer
and/or a director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise) and shall continue thereafter so long as Indemnitee shall be subject
to any Proceeding by reason of Indemnitee’s former or current capacity at the Company, whether or not Indemnitee is acting or serving
in any such capacity at the time any Expense is incurred for which indemnification can be provided under this Agreement. This Agreement
shall continue in effect regardless of whether Indemnitee continues to serve as an officer and/or a director of the Company or any other
enterprise at the Company’s request.

 

F. MISCELLANEOUS

 

1. Amendment
of this Agreement. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing by the
parties hereto. No waiver of any of the provisions of this Agreement shall operate as a waiver of any other provisions (whether or not
similar), nor shall such waiver constitute a continuing waiver. Except as specifically provided in this Agreement, no failure to exercise
or any delay in exercising any right or remedy shall constitute a waiver.

 

2. Subrogation.
In the event of payment to Indemnitee by the Company under this Agreement, the Company shall be subrogated to the extent of such payment
to all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to
secure such rights, including the execution of such documents necessary to enable the Company to bring suit to enforce such rights.

 

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3. Assignment;
Binding Effect. Neither this Agreement nor any of the rights or obligations hereunder may be assigned by either party hereto without
the prior written consent of the other party; except that the Company may, without such consent, assign all such rights and obligations
to a successor in interest to the Company which assumes all obligations of the Company under this Agreement. Notwithstanding the foregoing,
this Agreement shall be binding upon and inure to the benefit of and be enforceable by and against the parties hereto and the Company’s
successors (including any direct or indirect successor by purchase, merger, consolidation, or otherwise to all or substantially all of
the business and/or assets of the Company) and assigns, as well as Indemnitee’s spouses, heirs, and personal and legal representatives.

  

4. Severability
and Construction. Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to
do any act in violation of applicable law. The Company’s inability, pursuant to a court order, to perform its obligations under
this Agreement shall not constitute a breach of this Agreement. In addition, if any portion of this Agreement shall be held by a court
of competent jurisdiction to be invalid, void, or otherwise unenforceable, the remaining provisions shall remain enforceable to the fullest
extent permitted by applicable law. The parties hereto acknowledge that they each have opportunities to have their respective counsels
review this Agreement. Accordingly, this Agreement shall be deemed to be the product of both of the parties hereto, and no ambiguity shall
be construed in favor of or against either of the parties hereto.

 

5. Counterparts.
This Agreement may be executed in two counterparts, both of which taken together shall constitute one instrument.

 

6. Governing
Law. This agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed,
construed and interpreted in accordance with the laws of the State of New York, without giving effect to conflicts of law provisions thereof.

 

7. Notices.
All notices, demands, and other communications required or permitted under this Agreement shall be made in writing and shall be deemed
to have been duly given if delivered by hand, against receipt, or mailed via postage prepaid, certified or registered mail, return receipt
requested, and addressed to the Company at:

 

U Power Limited

Attention: Chief Executive Officer

 

and to Indemnitee at their address last
known to the Company.

 

8. Entire Agreement.
This Agreement constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, between
the parties with respect to the subject matter hereof.

 

(Signature page follows)

 

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IN WITNESS WHEREOF, the parties hereto execute this Agreement
as of the date first written above.

 

U Power Limited

 

	By: 	 	 
	Name:	Jia Li	 
	Title: 	Chief Executive Officer and 

Chairman of the Board of Directors	 

 

Indemnitee

 

Signature:

Name:

 

[Signature Page to Indemnification Agreement]

 

 

7/7Exhibit 10.9

 

Project Cooperation Agreement

 

Agreement Number:            
  

 

Party A: Quanzhou Xinao Transportation
Energy Development Co., Ltd.

 

Social credit code:

 

Party B: Shanghai Youxu New Energy Technology
Co., Ltd.

 

Social credit code: 91310115MA1HBK8P4X

 

After friendly negotiation,
Party A and Party B have reached an agreement on the promotion project of electric vehicle battery swapping mode in Quanzhou, and signed
this agreement .

 

Article 1. definition

 

1.1 Electric
vehicle battery replacement mode refers to the centralized storage, centralized charging and unified distribution of a large number
of batteries through centralized charging stations, and battery replacement services for electric vehicles or battery charging, logistics
deployment, and battery replacement services in the battery distribution station . In one.

 

1.2
The vehicle-electricity separation mode means that consumers no longer bundle the vehicle battery when purchasing a new energy vehicle,
but only purchase the vehicle body other than the vehicle battery or lease it back after sale. The vehicle battery part will be paid by
rent.

 

1.3
Party A : It is an operator of gas vehicle refueling (natural gas); sales, inspection and maintenance of gas facilities,
equipment and gas appliances; emergency refueling services; vehicle refueling business consulting and other businesses, and intends to
participate in electric vehicle replacement. Point mode of operation.

 

     

     

    

 

1.4 Party B: It is
the creator and promoter of the electric vehicle battery swap model, and provides integrated service providers such as battery swap technology
patents, battery swap information platforms, battery leasing, and battery swap car sales for the promotion of the EV battery swap model.

 

Article 2 Cooperation
Content

 

2.1
Construction and operation of swapping stations. The first batch of four swap stations in Quanzhou area ( Exhibition City Station, Station
2, Station 3, Station 4 ) will be invested, constructed and operated by Party B in advance . During the trial operation period, all income
will be owned by Party B, and the operating cost will be borne by Party B, and the staff will be paid by Party A. Provided by the party,
each station is equipped with 4 people, and the labor cost is borne by Party B , and each person is 6,000 yuan per month. The trial operation
period is 180 days from the date of trial operation. During the trial operation period, Party A may decide whether to purchase the swapping
station according to the operation of each station. During the trial operation period, the basic electricity fee shall be invested by
Party A first , and Party B shall pay Party A a security deposit of RMB 52,000 yuan per station ( ¥ 52,000
yuan /station ). Party B shall pay within 3 working days after receiving the official invoice issued by Party A.

 

2.1.1 If Party A decides to
acquire the swapping station, Party A shall rely on its service experience in the public travel industry and its advantages in terms of
policy guidance, land and power resources in Quanzhou to operate the swapping station. Party B is responsible for the information platform
for battery swap, technical support for battery swap, revolving battery and battery bank, etc. Both parties continue to perform this agreement.

 

2.1.2
If Party A fails to submit a written purchase notice within 180 days, Party B shall be responsible for the operation after the trial operation
period expires, and both parties shall cooperate in handling relevant transfer procedures. This Agreement shall be automatically terminated
upon the expiration of the trial operation period. Party B pays Party A the rental fee of the power station site according to the standard
of 12,000 yuan per station per month, and the rental fee of the box transformer is 8,000 yuan per
month . The rental fee (including the site and the box transformer ) is increased by 10 % every 3 years. 8 years from the date of expiry
of the trial operation period. The two parties shall sign the venue lease contract separately.

 

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2.2
Sales of battery-swapped vehicles . Party A relies on local social resources and coordinates local Dongfeng brand dealers to vigorously
promote the rental or sale of Dongfeng E70 battery-swapped electric vehicles.

 

2.3 Party A, as the sole partner
of Party B’s E70 power exchange operation service in Quanzhou , shall not intervene in the Quanzhou market in any form without Party A’s
consent.

 

Article 3. Construction
and operation of power station

 

3.1 Party A relies on the advantages
of policies and land, power resources, etc., selects the site reasonably, coordinates the power, and assists Party B to complete the construction
of four replacement stations matching Dongfeng E70 within three months from the date of signing the contract. Negotiated and adjusted
the construction plan on the release of E70 vehicles .

 

3.1.1 Party A shall provide
the floor plan of the construction site of the swapping station, as well as the power infrastructure parameters.

 

3.1.2 Party A shall fully consider
the power supply needs of urban new energy taxi and online car-hailing drivers , reasonably formulate a construction plan for the four
swap stations, and actively coordinate and handle construction planning, environmental protection and other procedures.

 

3.1.3 Party B shall , in accordance
with the construction plan formulated by Party A, promote the investment and construction of the replacement power station in an orderly
manner. Party A has the right to adjust the construction plan according to the sales volume and delivery schedule of Dongfeng E70, so
as to ensure that the battery replacement needs of Dongfeng E70 vehicles in Quanzhou area are met. .

 

3.2 Party B builds a power
exchange station for Party A , and provides support for power exchange equipment, power exchange information platform, and power exchange
technology.

 

3.2.1 Party B shall build the
swap station according to the site plan and power infrastructure parameters provided by Party A.

 

3.2.2 Party B shall provide
Party A with a power exchange information platform, and arrange technical personnel to train the staff of Party A’s power exchange station.

 

3.2.3 Party B is responsible
for providing revolving batteries for the power exchange station, and according to the actual operation of the power exchange station,
reasonably allocates the battery reserve quantity of each power exchange station.

 

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Article 4. Acquisition
of equipment for swapping stations

 

4.1 Scope of transfer:

 

Party B agrees to transfer
all the assets of the swap station listed in Annex 1 of this contract (hereinafter referred to as “swap station assets”) to
Party A, and deliver the original documents listed in Annex 2 and the test report of the equipment and facilities listed in Annex 2 together.
The certificates and qualifications listed in Annex 3 are all handled by Party A by themselves. If Party B needs to cooperate in the process,
Party B shall provide support.

 

4.2 Transfer price and payment method

 

4.2.1 For the transfer
price, the price of the power exchange equipment in the exhibition city shall be transferred to Party A at the price of RMB
2,560,000 yuan ( excluding revolving batteries ), and the remaining three power exchange stations, and the price of the power
exchange equipment not higher than RMB Two hundred and five hundred thousand yuan per block ( ¥ 2,500,000 per
block) ( excluding revolving batteries) will be transferred to Party A. Infrastructure, box transformers and cables are based on the
price assessed by a third-party assessment agency where the project is located, and both parties negotiate and confirm. During the
trial operation, In the case that Party A cannot provide the box change, the box change shall be invested by Party B, the ownership
shall be owned by Party B, and the account name shall be under the name of Party A.

 

4.2.2 Payment method, Party A shall pay 90% of the
total price within 30 days after receiving the special value-added tax invoice issued by Party B for the full amount of the transfer of
the power exchange station, and obtain the ownership of the power station, and reserve 10% as the guarantee money for the guarantee period.
1 year from the date of delivery of the equipment.

 

4.3 Handover of data, testing of equipment
and facilities

 

4.3.1 Party B shall deliver to Party A the original
documents listed in Annex 2 and the special report on equipment and facilities within 7 working days after receiving the agreed price
in this contract.

 

4.3.2. Party B shall cooperate with Party A to test
the equipment and facilities within 7 working days from the date of receipt of the purchase notice from Party A.

 

4.4 Handover of assets

 

4.4.1 Within 7 working days after completing the
data handover and equipment testing stipulated in Article 4 of this contract, Party A and Party B shall handle the transfer of the assets
of the swap station at one time . , and ensure that all equipment can be used normally without failure. During the handover, both parties
shall sign a written “Data Handover Checklist”, which are all annexes to this contract.

 

4.4.2 The sign of the completion of the asset handover
is: the signature of the “Assets Handover List”, and the date on the “Assets Handover List” is the handover date.

 

4.4.3 Before the transfer of assets, Party B shall
settle the water charges, electricity charges, taxes and all other payable fees arising from the operation and management of the power
station .

 

    4

     

    

 

4.5 Handover of management

 

4.5.1 Before the handover date, the main body responsible
for the operation of the swap station is still Party B. During this period, the failure of facilities and equipment, risks, liabilities
and liabilities of the swap station, including but not limited to safety accidents, personal injury and property damage, and any payment
to any third party, shall be borne by Party B and has nothing to do with Party A. Party B shall be responsible for compensation for any
loss suffered by Party A. Party B shall settle the amount owed before the handover date. From the handover date, the risk and responsibility
of the power station shall be borne by Party A.

 

4.5.2 From the handover date, the ownership of the
swap station assets and the management right of the swap station shall be enjoyed by Party A, and the personnel assigned by Party A shall
take over all the assets of the swap station and the operation and management of the swap station.

 

4.5.3 Both parties confirm the repurchase date,
sign a safety agreement, and determine the safety responsibilities and obligations of both parties. Before signing the safety agreement,
the safety responsibility shall be borne by Party B.

 

Article 5 Service fee
and settlement method after the acquisition of the swap station

 

5.1 Charging standard
for end users of battery swap station:

 

will be charged at the standard
of 0.25 yuan per kilometer , measured by the taxi odometer, the end user will pay the fee through the information platform of Party B,
and Party B will pay to the account designated by Party A according to the agreed settlement method. Party A’s designated collection account
is ;

 

Party A’s designated collection
account information is as follows:

 

Account :  
          

 

Account Bank:  
         

 

Account Name:  
               

 

5.1.2 In the charging standard,
0.05 yuan is the battery rental fee, and 0.20 yuan is the battery replacement fee ( including the basic electricity price).

 

5.1.3 If the basic electricity
fee or new energy electricity price is adjusted, the fee charged to the end user shall be adjusted separately by both parties.

 

5.2 Profit distribution

 

5.2.1 The charge for battery
replacement is calculated by the taxi odometer, and 0.05 yuan/km is the battery rental fee, which is owned by Party B.

 

the electricity fee receipt
issued by the local State Grid.) from the total electricity exchange revenue , 21% of the income belongs to Party B.

 

    5

     

    

 

5.3 Battery Configuration

 

5.3.1
The standard for the number of revolving batteries in the battery swap station is generally 25 per station. Party B will reasonably allocate
the number of batteries to meet the daily operation needs of the battery swap station according to the number of battery swap stations
and the number of Dongfeng E70 put in by Party A.

 

5.3.2 Party B shall purchase
more revolving batteries according to the requirements of Party A , and configure them to the power exchange station in excess of the
standard, so that the power exchange station can charge at low peak hours and reduce charging during peak hours, thereby reducing the
basic electricity price expenditure.

 

5.4 Income settlement

 

5.4.1 The settlement method
adopts the T+1 method, and Party B shall pay Party A the income attributable to Party A on the previous day on a daily basis.

 

5.4.2 Party B shall deliver
the statement of the previous month to Party A within three days after receiving the electricity bill, and Party A shall check it within
5 days after receiving it. If Party A has any objection to the statement, it shall raise it within 5 days after receiving the statement,
and Party B shall check with Party A within 5 days after receiving the notice of objection , otherwise it shall be deemed as an approval
of the objection. Party A and Party B shall adjust and pay according to the reconciliation results.

 

Party B’s designated collection
account information is as follows:

 

Designated
payment account:  

 

Account
Bank:  

 

Account
Name:  

 

6 The service of the
power exchange information platform (hereinafter referred to as the platform)

 

6.1 Party B provides a power
exchange information platform for Party A to use at the power exchange station and open all data. Party A shall operate in strict accordance
with the requirements of the power exchange information platform to provide power exchange services for Dongfeng E70 vehicles .

 

6.2 Charges for the power exchange
information platform: Party B provides the power exchange information platform for Party A to use for 2 years free of charge. After 2
years, the fee will be charged, and Party B promises to give Party A the most favorable price.

 

6.3 Party B is responsible
for the maintenance and upgrade of the power exchange information platform, and Party A shall actively cooperate.

 

6.4 Both Party A and Party
B have the right to use the data of the power exchange information platform and shall not disclose it to a third party without consent.

 

6.5 The driver of Dongfeng
E70 vehicle shall be a registered user of the platform . When accessing the online platform, Party A shall assist the user to complete
the necessary identity authentication and qualification authentication, and the relevant information of the user shall be shared by both
parties.

 

    6

     

    

 

Article 7 Confidentiality

 

Either party to the agreement
shall undertake the same confidentiality for the confidential information of the other party obtained under this agreement (including
but not limited to technical secrets, business secrets, management information, resources , basic information and business secrets of
the platform, etc.) and the confidential matters involved in this agreement. Without the permission of both parties to the agreement,
relevant information and materials shall not be disclosed to third parties without authorization (except for fulfilling the necessary
information disclosure obligations as required by law). The confidentiality obligations under this Agreement do not end with the termination
of this Agreement. If economic losses are caused to the other party due to the breach of this confidentiality obligation, the corresponding
losses shall be compensated .

 

Article 8 Party A’s Statement
and Commitment

 

8.1 Before the signing of this
contract and during the period from the signing date of this contract to the handover date, there is no situation in which all or any
assets of the power exchange station must be sold, transferred or leased to a third party or any part thereof, nor is it related or affected.
Swap station assets, or cause or may cause any lawsuits, claims, disputes or legal proceedings from third parties and/or original personnel;
after the handover date, there is no original personnel to Party B and its affiliates to make or claim any action, claim, dispute or legal
proceeding.

 

8.2 Party A guarantees that
the swap station assets stipulated in Article 1 of this contract do not have any mortgage, pledge, lien or other form of guarantee, and
will not be claimed by any third party. Seize or otherwise restrict any rights.

 

8.3 Party A warrants that the
details of the power station assets listed in the attachment are true, complete and accurate in all aspects; all documents and certificates
delivered to Party B are true, legal and valid.

 

8.4 Party A guarantees that
the battery swap station and its ancillary facilities specified in Article 1 of this contract are in compliance with the national and
industry construction and design specifications for battery swap stations, and meet and / or achieve the safety, environmental protection,
All mandatory standards and requirements that must be met in terms of technology, etc.

 

8.5 Strictly follow the obligations
stipulated in this contract and handle all the affairs stipulated in this contract.

 

Article 9 Party B’s Statement
and Commitment

 

9.1 Party B fully possesses
the right and capacity to sign and perform this contract .

 

9.2 After signing this contract
, Party B has been informed of the asset status of the battery swap station that Party A has disclosed to Party B before the signing of
this contract.

 

9.3 Party B has signed this
contract and has been informed of the necessary conditions and procedures required for the operation of the power exchange station .

 

9.4 Party B promises to pay
the transfer price and go through the handover procedures in accordance with the time agreed in this contract.

 

9.5 Strictly follow the obligations
stipulated in this contract and handle all the affairs stipulated in this contract.

 

    7

     

    

 

Article 10 Liability for
breach of contract

 

10.1 If either party violates
this agreement or makes it impossible to continue to perform this agreement , the breaching party shall compensate the observant
party for all actual losses, including but not limited to litigation fees, attorney fees, preservation fees, preservation insurance fees,
appraisal fees, and evaluation fees. , announcement fee, etc.

 

10.2 If during the performance
of this contract, due to changes in laws, regulations and policies, the relevant licenses and qualifications cannot be handled, Party
A and Party B shall first negotiate and adopt other methods to complete the acquisition of power station assets on the basis of this contract.
And sign a supplementary agreement; if it cannot be resolved by other means, the contract will be terminated, and both parties will not
be liable for breach of contract.

 

10.3 If Party B violates 2.3
of Article 2 Cooperation Contents of this Agreement , it shall compensate Party A for its economic losses, including but not limited to
investment, available benefits, litigation fees, attorney fees, etc.

 

10.4 If Party A fails to pay
within the time agreed in the contract, it shall pay 1 ‰ of the total overdue payment amount to Party B as a penalty every day;
if Party A overdue payment exceeds 30 days, Party B shall have the right to terminate the contract and request Party A Compensation for
corresponding losses.

 

10.5 If Party B fails to pay
within the time agreed in the contract, it shall pay 1 ‰ of the total overdue payment amount to Party B as a penalty every day;
if Party A overdue payment for more than 30 days, Party A has the right to terminate the contract and request Party B Compensation for
corresponding losses.

 

10.6 Party A determines the
repurchase and replacement of the power station according to the actual situation, and Party B shall not refuse or delay for any reason.
If Party B refuses or delays, Party A has the right to unilaterally terminate the contract and requires Party B to compensate Party A
for the breach of contract of 1 million yuan per station every year . The compensation period is 8 years.

 

10.7 If Party B fails to invest
in the construction of the first batch of replacement power stations in accordance with the construction plan , Party B shall pay Party
A 10,000 yuan for each day overdue . If overdue exceeds 30 days , Party A has the right to unilaterally terminate the contract and require
Party B to bear the corresponding liability for breach of contract .

 

Article 11 Dispute Resolution
and Force Majeure

 

11.1 In case of any disputes
related to the agreement arising from the performance of the agreement, both parties shall first try their best to resolve them through
consultation based on the principle of friendly negotiation. If the negotiation fails, both parties agree to submit the dispute to the
people’s court where Party A is located for settlement.

 

11.2 In case of any force majeure
event that is unforeseeable, uncontrollable or unavoidable by either party, either party or both parties cannot perform any of its contractual
obligations, such obligations shall be suspended when the force majeure event exists, and the performance period of the obligations shall
be automatically performed according to The suspension period is extended without penalty. The party or parties experiencing the force
majeure shall provide the other party with appropriate proof of the occurrence of the force majeure and its duration within ten (10)
days after the occurrence of the force majeure event, and shall use its best efforts to terminate the force majeure event to reduce
the loss or prevent the expansion of the loss.

 

    8

     

    

 

Article 12 Terms of Service

 

12.1 The contact information
and contact information of the parties at the end of this contract are applicable to the communication between the two parties, the service
of written documents and the service of legal documents during dispute resolution. If the contact information and contact information
at the end are wrong or the change is not notified and cannot be delivered directly , it will be deemed delivered on the 7th day after
delivery.

 

12.2 Change of delivery address

 

12.2.1 If you need to change
the delivery address , you should notify the other party in writing 3 working days in advance, and the written notice should be delivered
to the other party’s service address.

 

12.2.2 If a party changes its
address in a civil lawsuit or arbitration, the party shall also perform the obligation of written notification to the court or arbitration
institution.

 

12.2.3 After a party fulfills
the obligation of notification of change in accordance with the above stipulations, its changed delivery address shall be the valid delivery
address, otherwise its previously confirmed delivery address will still be the valid delivery address.

 

12.3 Legal consequences

 

12.3.1 Notices, agreements
and legal documents are caused due to the inaccurate delivery address provided or confirmed by any party, the failure to perform the notification
obligation in the aforesaid manner after the delivery address is changed, or the party or its designated recipient refuses to sign for
receipt, etc. If all kinds of documents are not actually received by the party, if they are delivered by mail, the date of delivery shall
be the date when the documents are returned; if they are delivered directly, the date shall be the date on which the sender records the
situation on the receipt of service on the spot. for the date of delivery.

 

12.3.2 For the above-mentioned
service address, the court and arbitration institution may directly deliver the document by mail. Even if the parties fail to receive
the document served by the court or arbitration institution by mail, it shall be deemed to have been delivered due to the above-mentioned
agreement.

 

    9

     

    

 

Article 13 Others

 

13.1 This Agreement is valid
for [ 8] years from the date of signing.

 

13.2 Without the written consent
of the other party, Party A and Party B shall not transfer all or part of their rights and obligations under this Agreement to any third
party.

 

13.3 If some clauses of this
agreement are invalid, revoked or terminated, the validity of other clauses will not be affected, and other clauses will remain valid.

 

13.4 This agreement will take
effect from the date when the legal representatives or authorized representatives of both parties sign and affix their official seals.

 

13.5 This Agreement is made
in four original copies, and each party holds two copies, all of which have the same legal effect.

 

Signing date: 2021.6.22

 

Party A (signature and seal): Quanzhou Xinao Transportation
Energy Development Co., Ltd.

 

Legal representative or authorized representative

 

contact details:

 

address:

 

Party B (signature and seal): Shanghai Youxu New
Energy Technology Co., Ltd.

 

Legal representative or authorized representative

 

contact details:

 

Address: 2nd Floor, Block A, No. 88, North Zhangjiabang
Road, Pudong New Area, Shanghai

 

    10

     

    

 

Memorandum of Agreement on Battery-swap Station
Cooperation Project

 

Party A: Quanzhou Xinao Transportation Energy
Development Co., Ltd.

Party B: Shanghai Youxu New Energy Technology
Youxu Company

 

This memorandum is dated Day17
MM12 2021 Year

 

Preface (in view of)

 

The two parties signed the
“Agreement on Battery-swap Station Cooperation Project” (hereinafter referred to as the “Project Agreement”) for the
project; both parties hope to record the current status of the project and other rights and obligations through the memorandum.

 

Based on the above facts, the
parties hereby agree as follows:

 

		1.	The commencement of the trial operation is subject to mutual agreement and written confirmation by both
parties.

 

		2.	Article 2.1.2 of the project agreement, regarding the compact substation leasing fee supplement: the two
sides communicate and negotiate with each other in light of the actual situation of the construction site, the compact substation of the
exhibition city station will be invested and constructed by Party A, and the compact substation leasing fee will be executed according
to Article 2.1.2 of the project agreement; the compact substation of the other three stations will be invested and constructed by Party
B, if Party A does not buy back, Party A will not charge the compact substation leasing fee of the three stations, and the rest of the
fee will be executed according to Article 2.1.2 of the project agreement. The rest of the fees shall be executed in accordance with Clause
2.1.2 of the Project Agreement.

 

		3.	Article 10.7 of the project agreement, supplementary on the issue of construction delay: the construction
plan is not completed on time, and the two parties have communicated and reached an agreement on the reasons for the delay, and Party
B can be exempted from the delay responsibility.

 

		A.	Amendment of the memorandum

 

Amendments to the memorandum
require written confirmation by both parties.

 

		B.	Effectiveness and Termination of this Memorandum

 

This memorandum is effective
when signed by both parties and will be terminated when the Cooperation Agreement on Battery-swap Station Project is terminated.

 

		C.	other

 

This memorandum is made in
duplicate, each party A and B shall hold one copy, and each copy has the same effect.

 

Party A:

Authorized Representative:

date:2021.12.17

 

Party B:

Authorized Representative:

date: 2021.12.17

 

    11

     

    

 

Supplementary Agreement for Cooperation on
Battery-swap Station Project

 

Party A: Quanzhou Xinao Transportation Energy Development Co.,
Ltd.

Social credit code: 913505025747422819

 

Party B: Shanghai Youxu New Energy Technology Co., Ltd.

Social credit code: 91310115MA1HBK8P4X

 

Given:

 

On June 28, 2021 , both parties
signed the “Battery-swap Station Project Cooperation Agreement” (Contract No.: C ON02712021060003 ) (hereinafter referred to
as the “original contract”), according to the content of the contract, Party B officially tested on January 15 , 2022 . Operate
the exhibition city swap station and the Donghai swap station.

 

On February 18, 2022, due to the
development and construction needs of the Fengze District Kechuang Business Center Plot Reconstruction Project, the Fengze District People’s
Government of Quanzhou City, in accordance with relevant laws and regulations and the “House Expropriation Compensation and Resettlement
for the Reconstruction Project in Donghai Houpu Area of Fengze District,” “Implementation Plan”, expropriate the Donghai
gas station at the site owned by Party A and expropriate compensation according to the law, and the government requisition includes the
Donghai power station project.

 

In order to ensure
the rights and interests of both parties, according to the Civil Code of the People’s Republic of China and other relevant laws, the two
parties shall allocate the amount and payment method for the expropriation of the Donghai Swap Station, the labor cost and electricity
fee of the Donghai Swap Station and the Exhibition City Swap Station, The construction of the Dongxing power exchange station and the
construction of the power exchange information platform shall be clarified, and this supplementary agreement shall be signed.

 

Clause I. payment for the expropriation of the Donghai
Swap Power Station

 

1. Both Party A and Party B confirm
that the Housing and Construction Bureau of Fengze District, Quanzhou City will collect compensation for the replacement equipment, box
transformers, civil works, etc. which amounts to RMB 3,188,500, the compensation will be paid by the Donghai Sub-district Office of the
People’s Government of Fengze District, Quanzhou City on (year) (month) to Party A.

 

2. Since Party A is mainly responsible
for connecting the corresponding matters in the process of expropriation and compensation, and has paid a certain amount of labor and
cost in the project, Party B voluntarily pays Party A RMB 298,000,000 in the compensation for the expropriation and relocation of the
Donghai Swap Power Station..

 

3. According to Article 2.1 of
the original contract, all income during the trial operation period shall be owned by Party B, and the operating costs shall be borne
by Party B. Among them, the staff shall be provided by Party A, and each station shall be equipped with 4 persons. The labor cost shall
be borne by Party B, amounting to RMB 6000 per person per month. During the trial operation period, the basic electricity fee shall be
paid by Party A in advance, and the basic electricity fee shall be settled on a monthly basis. Party B shall pay Party A the basic electricity
fee of the month in full within 3 working days after receiving the official invoice issued by Party A. After negotiation and agreement
between the two parties, the labor cost of each station shall be calculated assuming each station is equipped with 2 staff. During the
trial operation period, the Exhibition City and Dong Hai battery-swap stations have total labour costs of RMB 126000. As of the first
ten days of June, the total electricity bill is RMB 106,887.28, and Party B agrees to the calculation method and results of the above
charges (see the attachment for details).

 

4. In combination with the contents of Articles
2 and 3 of this agreement, both parties agree that after deducting the 298,000 yuan voluntarily paid by Party B, the labor cost advanced
by Party A of 126,000 yuan, and the electricity fee advanced by Party A of 106,887.28 yuan, the remaining compensation amounting to 2,657,612.72
yuan shall be paid to Party B.

 

    12

     

    

 

5. Payment method:

 

5.1 After this agreement takes
effect, Party B shall issue corresponding bills to apply for payment to Party A. Party A shall pay the compensation fee which is 1,500,000
yuan within 10 working days after receiving the bills issued by Party B;

 

5.2 After Party B completes the
construction of the Dongxing Power Station and meets the operating conditions after acceptance by both parties, Party A shall pay the
remaining compensation which is 1,157,612.72 yuan within 10 working days after receiving the bills issued by Party B.

 

5.3 Transfer to the bank account
designated by Party B by way of transfer:

 

Account name: Shanghai Youxu New
Energy Technology Co., Ltd.

 

Account Bank: Bank of Shanghai
Huangpu Sub-branch

 

Account opening number: 03004508296

 

6. Party B shall enter the construction
of Dongxing Power Station within 5 natural days from the date of receiving the first payment from Party A and complete the construction
and trial operation within 45 days.

 

7. Liability for breach of contract:

 

7.1 If Party A fails to pay at
the time agreed in the contract, it shall pay Party B a penalty of 1‰ of the total final payment amount for each overdue day.

 

7.2 If Party B fails to complete
the construction and trial operation within 45 natural days after receiving the first compensation payment of RMB 1,500,000 from Party
A, Party A shall have the right to postpone the payment of the remaining compensation for each overdue day. In addition, Party B shall
pay to Party A daily liquidated damages based on 1‰ of the final total payment amount, and Party A has the right to directly deduct
the liquidated damages from the remaining compensation.

 

Clause II. Construction of power exchange information
platform

 

1. Party B’s establishment of
a complete and stable power exchange information platform is a precondition for the repurchase, and it shall be delivered to Party A for
use during the repurchase.

 

2. The power exchange information
platform includes but is not limited to the station control platform, mobile APP, WeChat public account, etc., and realizes functions
such as scanning code for power exchange, online payment, site navigation, order inquiry, and background management.

 

3. If Party B fails to deliver
the power exchange information platform in time and affects Party A’s repurchase, Party B shall be responsible for it. Party B shall
pay Party A’s site rental fee according to the original contract terms from the end of the trial operation, and Party A can reserve
the right to repurchase.

 

Clause III. Other

 

1. This agreement will become
effective after it is signed by the legal representatives of Party A and Party B or their authorized representatives and stamped with
the official seal.

 

2. This agreement is made in
four original copies, each party A and B shall hold two copies, which have the same legal effect.

 

Party A: Quanzhou Xinao Transportation Energy Development Co., Ltd

 

Legal representative/authorization:

 

Date of signing: year month day

 

Party B: Shanghai Youxu New Energy Technology limited company

 

Legal representative/authorization:

 

Date of signing: 2022.8.10

 

    13

     

    

 

Appendix:

 

Exhibit City and Donghai Swap Power Station’s
specific cost details 

 

	serial number	site	project	time	Fee amount 

(yuan)	electricity consumption 

(kWh)	Remark
	1	Donghai Swap Station	Labor cost	January 15, 2022 - February 14, 2022	12000	 	 
	February 15, 2022 - March 14, 2022	12000	 	 
	March 15, 2022 - April 14, 2022	12000	 	 
	April 15, 2022 - May 14, 2022	12000	 	 
	May 15, 2022 - May 30, 2022	6000	 	 
	Subtotal	54000	 	 
	2	Donghai Swap Station	electricity bill	November 24, 2021 - November 30, 2022	744.45	741	 
	December 1, 2021 - December 31 , 2021	691.41	1108
	January 1, 2022 - January 31 , 2022	1579.45	2459
	February 1, 2022 - February 28 , 2022	3551.31	5878
	March 1, 2022 - March 31 , 2022	3015.75	4837
	April 1, 2022 - April 30 , 2022	1586.95	2525
	May 1, 2022 - May 22 , 2022	3771.89	6409
	May 23, 2022 - June 7, 2022	2003.38	 	 
	Subtotal	16944.59	23957	 
	3	Exhibition City Swap Station	Labor cost	January 15, 2022 - February 14, 2022	12000	 	 
	February 15, 2022 - March 14, 2022	12000	 	 
	March 15, 2022 - April 14, 2022	12000	 	 
	April 15, 2022 - May 14, 2022	12000	 	 
	May 15, 2022 - June 14, 2022	12000	 	 
	June 15, 2022 - July 14, 2022	12000	 	 
	Subtotal	72000	 	 
	4	Exhibition City Swap Station	electricity bill	July 19, 2021 - September 30, 2021	8352	14400	to the confirmation of electricity consumption by both parties
	October 1, 2021 - November 30, 2021	17017.2	29340
	December 1, 2021 - December 31, 2021	5975.78	16428
	January 1, 2022 - February 8, 2022	13650.12	27432
	February 9, 2022 - February 28, 2022	8904.47	16290
	March 1, 2022 - March 31, 2022	7662.31	15057
	April 1, 2022 - May 5 , 2022	7548.94	13902
	May 6, 2021 - June 5, 2022	20831.87	41646
	Subtotal	89942.69	174495	 
	Total Amount	232887.28	 	 

 

 

 

14

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