Document:

Exhibit 10.5

 

Text Encoding: CMBC-HT031 (GS2007)

 

Comprehensive Credit Granting Contract

 

(Applicable to corporate credit granting)

 

No.: GSXZ 2015 SHJZBZEZ No. 008

 

SHENZHEN HIGHPOWER TECHNOLOGY CO., LTD.
(Seal)

 

CHINA MINSHENG BANKING CORP., LTD. SHENZHEN
BRANCH (Seal)

 

CHINA MINSHENG BANKING CORP., LTD.

 

     

     

    

 

Comprehensive Credit Granting Contract

 

Credit Receiver: SHENZHEN HIGHPOWER TECHNOLOGY
CO., LTD. ((hereinafter referred to as Party A)

 

Address: Bldg. 1, No. 68, Xinsha Road,
Pinghu Street, Longgang District, Shenzhen

 

P. C.:

 

Legal Representative / Main Principal:
Pan Dangyu

 

Tel.:

 

Fax:

 

Opening Bank:

 

Account No.:

 

Credit Grantor: CHINA MINSHENG BANKING
CORP., LTD. SHENZHEN BRANCH (hereinafter referred to as Party B)

 

Address: Minsheng Bank Building, Xinzhou
No. 11 Street, Futian District, Shenzhen City

 

P. C.: 518048

 

Legal Representative / Main Principal:
Ou Yangyong

 

Tel.:

 

Fax:

 

In accordance with the Contract Law,
the Law on Commercial Banks and other relevant laws and regulations, Party A and Party B make and enter into this Contract
upon consensus through consultation on the principles of faithfulness, credit, equality and willingness. Both Parties shall commonly
observe this Contract.

 

Chapter 1 Credit Line and Category

 

Article 1 During the valid credit period
specified in this Contract, the highest credit line Party A may apply Party B for use is (in words) twenty million Yuan
only, adopting RMB as the currency.

 

The line under this Contract shall:

 

 ̈
be used by Party A;

 

 ̈
be used by Party A and its subordinate wholly-owned or holding companies (hereinafter referred to as its subsidiary companies).
Refer to annex 1 for the list of subsidiary companies which can use the comprehensive credit line;

 

Credit line hereunder means the net amount
after deducting the deposit. In other words, the equal financing used after Party A or a third party other than Party A pays the
deposit (or pledge of deposit) may not occupy the said line.

 

Article 2 The highest credit line hereunder
shall be used for the following credit category:

 

RMB business:

 

x
(1) loan; 

 

þ
(2) bank acceptance;

 

x
(3) Discount of draft;

 

þ
(4) bank guarantee;

 

x
(5) Others: 

 

     

     

    

 

 

Trade financing business:

 

x
(1) foreign currency loan; 

 

x(2)
bank guarantee;

 

x
(3) Outward documentary bill; 

 

x
(4) Discount of bill;

 

x
(5) Acceptance of draft;

 

x
(6) Opening of L/C;

 

x
(7) Others: ____________

 

Other business: _________________

 

Chapter 2 Credit Term

 

Article 3 The effective term of the highest
credit line specified in Article 1 herein shall be one year, from July 16, 2015 to July 16, 2016.

 

Article 4 Party B is entitled to examine
the use of the credit line hereunder at any time. In case of any event of default as specified in Chapter 7 herein, Party B shall
have the right to adjust the credit term.

 

Chapter 3 Guarantee 

 

Article 5 In order to ensure repayment
of the creditor’s rights produced herein, the following one or several guarantees are adopted:

 

x
The Mortgagor _________________ and Party B (i.e. the Mortgagee) conclude a Maximum Guarantee Contract of No. _________________;

 

x
The Mortgagor _________________ and Party B (i.e. the Mortgagee) conclude a Maximum Guarantee Contract of No. _________________;

 

x
The Pledgor _________________ and Party B (i.e. the Pledgee) conclude a Maximum Guarantee Contract of No. _____________;

 

x
Party A shall provide maximum guarantee for the credit line used by the subsidiary company listed in the annex. 

 

þ
Others: Springpower Technology (Shenzhen) Co., Ltd. and Party B conclude a Maximum Guarantee Contract of 2015
SHJZBZEZ No. 008-1

 

the Guarantor Huizhou Highpower Technology
Co., Ltd. and Party B conclude a Maximum Guarantee Contract of 2015 SHJZBZEZ No. 008-2;

 

The Guarantor Pan Dangyu and Party B
conclude a Maximum Guarantee Contract of 2015 SHJZBZEZ No. 008-3; 

 

Article 6 When Party A and Party B concludes
a specific business contract hereunder, Party B has the right to demand Party A to provide any security other than that specified
in Article 5 herein.

 

Article 4 Use of Credit Line

 

Article 7 Within the credit term and highest
credit line specified herein, Party A may use the credit line once or several times. If Party B complies with the stipulations
of this Contract through review, Party B shall conclude a relevant specific credit granting business contract or agreement with
Party A (hereinafter referred to as the specific business contract).

 

Article 8 The accumulative balance of all
the credit lines used by Party A (the accumulative amount of principals used and not repaid) shall not exceed the highest credit
line at any time within the credit term.During the credit term, Party A may apply for reusing the credit line that Party A has
repaid. The credit line not used during the credit term shall be cancelled automatically when the credit term expires.

 

     

     

    

  

If Party A fails to perform its obligations
under this Contract or under the specific business contract, Party B shall have the right to stop Party A continuously using the
remaining credit line.

 

Article 9 Party A must use credit lines
within the credit term specified in Article 3 herein. The date of use of a credit line shall not be later than the deadline of
the credit term (if the business type specified in the specific business contract is loan/import and export bill purchase, the
date of release of each loan shall not be later than the deadline; if the business type specified in the Main Contract is acceptance
of bill/discount/ opening of L/C/ opening of letter of guarantee (or letter of guarantee for the release of goods), the date of
draft of acceptance of bill/discount/ opening of L/C/ opening of letter of guarantee (or letter of guarantee for the release of
goods) shall not be later than the deadline). In case of adjustment of the credit term, the deadline shall be the deadline after
this adjustment. The use term of each credit line shall accord with the specific business contract.

 

Article 10 When this Contract becomes effective,
Party A may not use any line hereunder until it meets the following preconditions simultaneously, or Party B shall have the right
to refuse conclusion of a specific business contract with Party A.

 

10.1 Party A has provided documents according
to Party B’s requirements, including but not limited to: Party A’s business license, organization code certificate
and tax registration certificate which are qualified through annual inspection; Party A’s current effective articles of association;
identity certificate and a photocopy of the OD card of the Company's legal representative;

 

10.2 Guarantee-related documents as the
credit guarantee hereunder are effective, and the mortgage right/pledge right has been established;

 

10.3 Party A has never conducted any event
of default, or Party A has conducted any event of default but the default has been solved satisfying Party B or has been exempted
by Party B;

 

10.4 Party A’s commitments given
in Chapter 5 herein have been kept prior to the date of withdrawal;

 

10.5 Party A’s financial conditions
when the credit line is applied for use are basically the same as those when this Contract is signed, and there is no material
adverse change;

 

Article 11 The expenses which should be
charged under bills, letter of guarantee, international trade financing and other related business, the discount rate under discount
of bills, and the interest rate and exchange rate which should be determined in inward and outward documentary bills shall be agreed
by Party A and Party B in each specific business contract.

 

Article 12 In case of any discrepancy between
this Contract and the specific business contract made and entered into by and between Party A and Party B, the specific business
contract shall prevail.

 

Chapter 5 Party A’s Commitments

 

Article 13 Party A’s use of the credit
line shall comply with the provisions of laws and the stipulations of this Contract and the specific business contract, and Party
B is entitled to check the situations of the specific business at any time.

 

Article 14 During the credit use period
(from the date of signature of this Contract to the date when Party B’s all creditor’s rights are compensated), Party
A shall report true financial statements and all relevant information concerning the opening bank, account number and deposit and
loan balances according to Party B’s requirements.

 

Article 15 If providing security for any
other’s debts, Party A shall notify Party B in advance, and the performance of the specific business contract made and entered
into with Party B shall not be affected.

 

Article 16 During the credit use period,
Party A shall notify Party B 30 days in advance if Party A conducts activity of asset reorganization by means of merger, acquisition,
consolidation and division, or any activity changing its operation right in any form, such as contracting and lease, or any activity
changing its organization and operation method, or any activity for selling, transferring or disposing its any material asset or
equipment in other forms and making major investment. Party A shall repay Party B’s creditor’s rights in advance or
implement the responsibility of repaying creditor’s rights according to Party B’s requirements.

 

     

     

    

  

Article 17 In case of any event which endangers
Party A’s normal operation or constitutes any major threat to performance of the obligation of repayment hereunder (including
but not limited to the events specified in sub-clause 10.3 herein), Party A shall notify Party B immediately in written form.

 

Article 18 In case of change of the domicile
or business site of the legal person of Party A, or increase or decrease of Party A’s registered capital, or change of Party
A’s legal representative and other senior management personnel, Party A shall notify Party B within seven days after occurrence
of the change.

 

Article 19 Party A shall repay on time
the principal and interests of the funds of the specific business under the credit line and pay on time the expenses payable.

 

Article 20 If Party A uses international
trade financing credit line (including packing loan, import and export bill purchase, opening of L/C, letter of guarantee, discount
of bill and acceptance of bill of exchange), Party A shall ensure:

 

1. the settled amount of the import and
export business conducted through Party B during the credit period shall not be less than RMB _________________ Yuan, of which
the settled amount of the export business shall not be less than RMB _________________ Yuan;

 

2. When the business is conducted, the
latest Uniform Customs and Practice for Documentary Credits, the Uniform Rules for Collections and other related
international practices prevailing when this Contract is signed shall be strictly observed. Party B’s reputation and interest
shall not be damaged due to any business dispute.

 

Chapter 6 Party B’s Commitments

 

Article 21 If Party A’s application
for use of a credit line complies with the stipulations of this Contract, Party B shall approve and perform the application timely
according to the specific business contract signed.

 

Article 22 Party B shall not make adjustment
of the credit term and the highest credit line bad for Party A, unless otherwise specified in Chapter 7 of this Contract.

 

Chapter 7 Adjustment of Credit Line and
Acceleration

 

Article 23 Under the following circumstances
during the performance period of this Contract, Party B is entitled to adjust or cancel a credit line, and demand Party A to prepay
all the borrowings having been withdrawn by Party A under this Contract:

 

23.1 Party A’s operating status is
worsen or Party A has any major operational difficulty;

 

23.2 there is any major change of the market
related to Party A’s operation;

 

23.3 there is any major adjustment of relevant
national policies;

 

23.4 Party A violates any other contract
or agreement concluded with others, or Party A makes any commitment or warranty unilaterally, which constitutes breach of other
debts or other debts have been or may be announced acceleration by other creditor;

 

23.5 the guarantee capacity of the guarantor
hereunder becomes obviously insufficient, or the guarantor violates the guarantee contract, or the guarantor violates any obligation
specified in the commitments given by the guarantor, or the pledged or mortgaged property hereunder is damaged or its value is
obviously decreased, and Party A fails to provide a new guarantee required according to Party B’s requirements;

 

23.6 during the valid period of this Contract,
Party A expressly indicates or indicates by acts that Party A is unable to or fails to perform its obligations specified in this
Contract, the specific business contract or Party A’s commitments;

 

23.7 Party A provides Party B with any
balance sheet, statement of profits and losses and other important materials which contain false information or conceal important
facts, or Party A refuses Party B’s supervision on Party A’s use of the credit line and relevant production, operation
and financial activities;

 

23.8 Party A transfers its assets, withdraws
funds, evades debts or has any other behavior which damages Party B’s rights and interest;

 

     

     

    

  

23.9 there is any major change of Party
A’s financial conditions, or Party A is involved in litigation, arbitration, administrative punishment or other judicial
administrative proceedings, which may have adverse impact for Party A on the execution of this Contract;

 

23.10 there are any other circumstances
under which Party A loses or may lose its ability to perform obligations;

 

23.11 Party A violates its any commitment
given in Chapter 5 herein or fails to perform its obligations under this Contract or the specific business contract.

 

Article 8 Effectiveness of Contract 

 

Article 24 This Contract shall become effective
when both Parties’ legal representatives/main principals or authorized agents sign or seal and both Parties affix their official
seals/special contract seals.

 

Chapter 9 Dispute Settlement

 

Article 25 Any and all disputes between
Party A and Party B arising from and in connection with the execution of this Contract and/or the specific business contract shall
be governed by the court at the location where Party B is located, except that there are additional stipulations in the specific
business contract for governing of disputes under this Contract.

 

Chapter 10 Supplementary Provisions

 

Article 26 All the specific business contracts
concluded between Party A or its subsidiary companies listed in Annex 1 of this Contract and Party B for each specific credit granting
business on the basis of this Contract shall be deemed as an integral part of this Contract and constitute this Contract as a whole.

 

Article 27 The Contract has been
made out in three originals for Party A, Party B and the guarantor each holding one, which shall be equally authentic.

 

Article 28 When this Contract is signed,
Party B has explained and interpreted in details all the terms and conditions of this Contract to Party A, and both Parties have
no objection to the terms and conditions of this Contract. Both Parties have accurate understanding of the legal meaning of their
corresponding rights and obligations, limitation of responsibilities or disclaimers. 

 

Article 29 Other provisions agreed by both
Parties

 

The credit category under this Contract
includes: bank acceptance bills, with the single deposit ratio not lower than 30% and the maximum term not exceeding 6 months (the
maximum term for bank acceptance bill is 12 months); financing letter of guarantee, with the single deposit ratio not lower than
50%. Shupeng Technology (Shenzhen) Co., Ltd., Huizhou Highpower Technology Co., Ltd. and Party A’s legal representative
Pan Dangyu shall provide joint liability for Party A’s warranty guarantee for Party B’s debts under this Contract.

 

Article 30 The credit lines granted to
Party A and/or its subsidiary companies in accordance with the Comprehensive Credit Granting Contract or any other contract
(“Original Credit Granting Contract”) prior to the signature of this Contract may be performed continuously according
to the Original Credit Granting Contract and the relevant specific business contract. However, the outstanding credit line under
the Original Credit Granting Contract shall be included in the highest credit line specified in Article 1 herein for calculation
and management.

 

Article 31 Both Parties agree and authorize
Party B irrevocably to report relevant information to the financial credit information database established by the State. Such
information shall include the name, registered address and other related information of this institution, the transaction records,
credit information and bad information (including failure to perform obligations of this Contract, the institution’s performance
of obligations and enforcement ruled or judged by the people’s court, and other relevant bad information prescribed by laws
and regulations) generated during business activities and performance activities of this institution under this Contract. 

 

This Contract is signed by Party A and
Party B in Shenzhen.

 

     

     

    

  

Party A: SHENZHEN HIGHPOWER TECHNOLOGY
CO., LTD. (Seal) (Seal)

 

Legal Representative / Main Principal:
Pan Dangyu (Signature)

 

	(Or Authorized Agent)	(Signature or Seal)
	 	 
	Date: 	 

 

Party B: CHINA MINSHENG BANKING CORP.,
LTD. SHENZHEN BRANCH (Seal) (Seal)

 

Legal Representative / Main Principal:

 

	(Or Authorized Agent)	(Signature or Seal)
	 	 
	Date:  	 

 

Annex:

 

List of subsidiary companies agreed by
the Credit Receiver (Party A) for using the lines under the Comprehensive Credit Granting Contract:

 

	1. Full name of the Company: 
	Address: 
	Legal Representative: 
	P. C.:            Tel.:             Fax:  
	Opening Bank:                Account No.: 
	2. Full name of the Company: 
	Address: 
	Legal Representative: 
	P. C.:             Tel.:             Fax:  
	Opening Bank:                 Account No.: 
	3. Full name of the Company: 
	Address: 
	Legal Representative: 
	P. C.:             Tel.:             Fax: 
	Opening Bank:                 Account No.: 

 

     

     

    

  

	4. Full name of the Company: 
	Address: 
	Legal Representative: 
	P. C.:             Tel.:             Fax: 
	Opening Bank:                 Account No.: 
	5. Full name of the Company: 
	Address: 
	Legal Representative: 
	P. C.:             Tel.:             Fax: 
	Opening Bank:                 Account No.: 

 

Note: the Credit Receiver shall affix its
official seal on this page. Where there is any control of the line for use by a subsidiary company, a limit may be indicated or
another page may be made for format explanation.Exhibit 10.5(a)

 

Text Encoding: CMBC-HT041 (GS2007)

 

Maximum
Guarantee Contract

 

(Applicable where the guarantor is a unit)

 

No.: GGBZ 2015 SHJZBZEZ No. 008-1

 

Shupeng Technology (Shenzhen) Co.,wd
Ltd. (Seal)

 

CHINA MINSHENG BANKING CORP., LTD. SHENZHEN
BRANCH (Seal)

 

CHINA MINSHENG BANKING CORP., LTD.

 

     

     

    

 

Maximum Guarantee Contract

 

Guarantor: Shupeng Technology (Shenzhen)
Co., Ltd. (hereinafter referred to as Party A)

 

Address: Workshop Building A, Shunchao
Industrial Zone, Renmin Road, Danhu Community, Guanlan Street, Bao’an District, Shenzhen City

 

P. C.:

 

Legal Representative / Main Principal:
Pan Dangyu

 

Tel.:

 

Fax:

 

Opening Bank:

 

Account No.:

 

Creditor: CHINA MINSHENG BANKING CORP.,
LTD. SHENZHEN BRANCH (hereinafter referred to as Party B)

 

Address: Minsheng Bank Building, Xinzhou
No. 11 Street, Futian District, Shenzhen City

 

P. C.: 518048

 

Legal Representative / Main Principal:
Ou Yangyong

 

Tel.:

 

Fax:

 

In order to ensure the performance of the
Main Contract made and entered into by and between Party B and SHENZHEN HIGHPOWER TECHNOLOGY CO., LTD. (hereinafter referred
to as “Debtor of the Main Contract”), Party A is willing to provide maximum guarantee for all/par of the debts under
the Main Contract. IN WITNESS WHEREOF, Party A and Party B conclude and sign this Contract through friendly consultation in accordance
with relevant national laws and regulations.

 

Chapter 1 Category of the Principal Creditor’s
Right Guaranteed and Maximum Amount of Debts 

 

Article 1 The Main Contract of this Contract
is selected as follows:

 

þ
The Comprehensive Credit Granting Contract of 2015 SHJZBZEZ No. 008 made and entered into by and between Party
B and the Debtor of the Main Contract, this Contract, and the specific business contracts, applications IOU, and certificates of
creditor’s rights or electronic data under this Contract shall constitute the Main Contract of this Contract;

 

x
All of            continuously made and entered into by and between
Party B and the Debtor of the Main Contract during the period of the principal creditor’s right specified in Article 3 herein
shall constitute the Main Contract of this Contract. The amount of all the outstanding principals used by the Debtor of this Contract
at any time shall not exceed the limit specified in Article 2 herein. However, within this limit, the Debtor of the Main Contract
may apply for recycling the limit of all the outstanding principals.

 

Article 2 The maximum amount of debts guaranteed
by Party A is: (currency) RMB, (amount in words): twenty million Yuan only.

 

The maximum amount of debts is the maximum
limit for balance of principals, defined as follows:

 

The maximum limit for balance of principals
is the maximum limit for principals of principal creditor’s rights only. If the principal does not exceed the said limit,
Party A is willing to undertake joint guarantee liability for all the accounts payable within the scope specified in Article 6
of this Contract.

 

Chapter 2 Period of the Principal Creditor’s
Right Guaranteed 

 

Article 3 The period of the principal credit’s
right guaranteed under this Contract shall be from July 16, 2015 to July 16, 2016. The stipulations of this article
have the following meanings:

 

     

     

    

 

3.1 If the business specified in the Main
Contract is a loan business, the date of release of each loan shall not be later than the expiry date of this period.

 

3.2 If the business specified in the Main
Contract is a business of acceptance of bill/discount/ opening of L/C/ opening of letter of guarantee (or letter of guarantee for
the release of goods), the date of draft of acceptance of bill/discount/ opening of L/C/ opening of letter of guarantee (or letter
of guarantee for the release of goods) shall not be later than the expiry date of this period.

 

Chapter 3 Guarantee Method 

 

Article 4 Joint liability guarantee is
adopted as the method of guarantee by Party A.

 

Article 5 Besides the guarantee method
specified in this Contract, if there is any other guarantee under the Main Contract (including the Debtor of the Main Contract
provides mortgage/pledge guarantee for Party B to the extent of the Debtor’s own property), Party A’s guarantee liability
undertaken for Party B shall not be affected by any other guarantee nor be exempted or reduced arising therefrom. Party B is entitled
to select to exercise the guarantee right under this Contract first and Party A waives the prior right of defense of any other
guarantee. If Party B’s priority to gain compensation from the said mortgage right/pledge right is lost or reduced due to
Party B’s waiver of the mortgage right/pledge right for the property of the Debtor of the Main Contract for any reason or
due to Party B’s change of the sequence or contents of the mortgage right/pledge right, as promised by Party A, Party A’s
guarantee liability undertaken for Party B shall not be exempted or reduced.

 

Chapter 4 Scope of Guarantee

 

Article 6 Party A’s guarantee scope:
the maximum principal of the principal creditor’s rights specified in Article 2 of this Contract and other accounts payable
(including but not limited to interest, default interest, compound interest, penalty, damages, expenses for realizing creditor’s
rights and guarantee right (including but not limited to legal cost, attorney fee and business traveling expenses), and all other
reasonable expenses payable). Other accounts payable specified in the said scope shall be included in the scope of guarantee liability
undertaken by Party A but shall not be included in the maximum limit for balance of principals guaranteed under this Contract.

 

Article 7 The funds (including the funds
Party B obtains from exercising the right specified in sub-clause 12.2 of this Contract) that Party A pays Party B for the purpose
for performing Party A’s responsibility under this Contract shall be paid according to the following order: (1) Party B’s
expenses for realizing creditor’s rights and guarantee right; (2) damages; (3) penalty; (4) compound interest; (5) default
interest; (6) interest; (7) principal. Party B is entitled to change the said order.

 

Chapter 5 Determination of the Creditor’s
Right Guaranteed 

 

Article 8 The creditor’s right guaranteed
under this Contract shall be determined under any one of the following circumstances:

 

8.1 the period of the principal creditor’s
right specified in Article 3 of this Contract expires;

 

8.2 the Main Creditor announces acceleration
of all debts under the Main Contract by law or according to relevant stipulations of the Main Contract;

 

8.3 other circumstances for determining
the creditor’s right guaranteed prescribed by law.

 

Article 9 When the creditor’s right
guaranteed under this Contract is determined, the following shall become effective:

 

9.1 When the creditor’s right guaranteed
under this Contract is determined, the outstanding creditor’s right under the Main Contract shall be included in the scope
of the creditor’s right guaranteed no matter whether the performance period of the creditor’s right has expired or
not or there is any other additional condition.

 

9.2 When the creditor’s right guaranteed
under this Contract is determined, all funds other than principals specified in Article 6 of this Contract shall be included in
the scope of the creditor’s right guaranteed no matter whether the funds have been occurred or not;

 

9.3 From the date when the creditor’s
right guaranteed under this Contract is determined to the date of full repayment of the creditor’s right guaranteed, if the
Debtor of the Main Contract fails to perform the obligation of repayment of debts, Party B shall have the right to directly claim
Party A for compensation and Party A shall repay Party B relevant debts immediately.

 

     

     

    

 

Chapter 6 Guarantee Period 

 

Article 10 The guarantee period of the
guarantee liability undertaken by Party A shall be two years and the date of start shall be determined according to the following
method:

 

10.1 If the expiry date of the performance
period of a debt under the Main Contract is early than or equals to the date of determination of the creditor’s right guaranteed,
the guarantee period of the guarantee liability undertaken by Party A for the debt shall start from the date of determination of
the creditor’s right guaranteed;

 

10.2 If the expiry date of the performance
period of a debt under the Main Contract is later than the date of determination of the creditor’s right guaranteed, the
guarantee period of the guarantee liability undertaken by Party A for the debt shall start from the expiry date of the performance
period of this debt;

 

10.3 The term “expiry date of the
performance period of a debt” indicated in the preceding paragraph includes the expiry date of the debt when the Debtor of
the Main Contract repays the debt by installments and also includes the expiry date of acceleration announced by the Creditor according
to the stipulations of the Main Contract;

 

10.4 If the business under the Main Contract
is a business of letter of credit, bank acceptance bill, letter of guarantee or letter of guarantee for the release of goods, the
date of external payment shall be deemed as the expiry date of the performance period of the debt.

 

Chapter 7 Both Parties’ Rights
and Obligations 

 

Article 11 Rights and obligations of Party
A

 

11.1 Party A is a legal person duly established
and validly existing, has the capacity for civil rights and the capacity for civil conducts for signing and executing this Contract,
and has obtained all necessary licenses, approvals, registration and files required for signature of this Contract;

 

11.2 All the internal authorization formalities
required for Party A for signing this Contract have been completely handled and become fully effective. Party A’s signature
of this Contract and performance of its obligations under this Contract shall not conflict with the current articles of association
and the internal rules and regulations, or any other contract, agreement and document binding upon Party A.

 

11.3 Party A shall ensure the authenticity,
legitimacy and effectiveness of the documents that Party A provides Party B for demonstrating Party A’s legal identity and
its ability for performing the guarantee liability under this Contract;

 

11.4 When the creditor’s right guaranteed
under this Contract is determined, if the Debtor of the Main Contract fails to perform the debt prior to the expiry date of the
performance period of the debt, Party A shall have the obligation to make payment to Party b immediately on the date of receiving
of Party B’s written notice;

 

11.5 When giving guarantee under this Guarantee
Contract, Party A is not involved in any litigation or arbitration which may be sufficient to affect its ability for undertaking
the guarantee liability under this Contract;

 

11.6 Party A shall not bear the guarantee
liability under the Guarantee Contract when the Debtor of the Main Contract has repaid all the debts under the Main Contract on
schedule;

 

11.7 During the guarantee period, Party
B may transfer to a third party the creditor’s right under the Main Contract without obtaining Party A’s consent, and
Party A shall continue to undertake guarantee liability;

 

11.8 If the Debtor of the Main Contract
and Party B changes the Main Contract through signing an agreement, Party A’s consent may not be obtained if such change
does not increase the Debtor’s debts. However, if such change extends the term or increases the amount of principle of the
principal creditor’s right guaranteed by Party A or allows transfer of debts by the Debtor of the Main Contract, Party A’s
consent shall be obtained. Party A commits to undertake guarantee liability according to the Main Contract after change;

 

     

     

    

 

11.9 During the valid period of this Contract,
Party B shall be notified thirty days in advance where there is any change of Party A’s operation mechanism, registered capital,
equity, or Party A sells, transfers or disposes by any other means its material assets. Party B shall be notified within seven
days if Party A's address, name or legal representative is changed;

 

11.10 If Party A provides guarantee for
any other third party during the valid period of this Contract, Party B’s rights and interests shall not be damaged.

 

11.11 Loans under the Main Contract may
be used for borrowing for repaying. Party A is willing to undertake guarantee liability.

 

11.12 If the Debtor of the Main Contract
changes the purpose of the funds at random, Party A shall undertake guarantee liability for the debts under the Main Contract and
the default interest and penalty arising from misappropriation of funds.

 

Article 12 Rights and obligations of Party
B

 

12.1 Party B is entitled to demand Party
A at any time to provide the financial reports, financial statements or other data reflecting Party A’s operation conditions
and credit status;

 

12.2 If Party B demands Party a to undertake
guarantee liability according to the stipulations of this Contract, Party A authorizes Party B to deduct relevant funds directly
from the account opened with the bank institutions of China Minsheng Banking designated by Party A. With respect to the part insufficient
for deduction, Party B is entitled to make deduction from any other account opened by Party A with the bank institutions of China
Minsheng Banking or demand Party A to make repayment. Party B shall not bear any responsibility for losses on interest and any
other losses caused to Party A arising from Party B’s behavior of deduction;

 

12.3 Party A may not be notified when Party
B and the Debtor of the Main Contract sign a specific business contract (or agreement) on a specific credit granting business under
the Main Contract.

 

Chapter 8 Liabilities for Breach of Contract

 

Article 13 When this Contract becomes effective,
Party A and Party B shall perform the obligations specified in this Contract. Any party which fails to wholly or partly perform
its obligations specified herein shall undertake relevant liabilities for breach of contract and make compensation for losses caused
to the other party.

 

Chapter 9 Contract Effectiveness, Change
and Termination

 

Article 14 This Contract shall become effective
when both Parties’ legal representatives/main principals or authorized agents sign or seal and both Parties affix their official
seals/special contract seals.

 

Article 15 When the Contract comes into
force, Party A and Party B shall not change or cancel the Contract in advance at random. Should the Contract be changed or cancelled,
a written agreement shall be reached and concluded upon unanimity through consultation.

 

Chapter 10 Dispute Settlement

 

Article 16 Any and all disputes between
Party A and Party B arising from and in connection with the execution of this Contract shall be settled through consultation between
both Parties. Where consultation fails, the dispute shall be governed by the people’s court at the location where Party B
is located.

 

Chapter 11 Supplementary Provisions

 

Article 17 Notice and service

 

17.1 Any and all notices or written communications
that one party sends to the other party under this Contract, including (but not limited to) any and all written documents or notices
which must be sent under this Contract, shall be sent by registered post, fax, special delivery or other means to the address of
the other party given on the first page of this Contract;

 

     

     

    

 

17.2 If sent by registered post, the forth
day after the said document or notice is posted shall be deemed as the date of service and receiving; if sent by fax, the date
indicated in the receipt of being sent successfully shall be deemed as the date of service and receiving; if sent by special delivery,
the date when the special person sends the said document or notice to the address of the addressee shall be deemed as the date
of service and receiving. In case of change of any contact information, the related party shall notify the other party in writing
of the contact information changed within seven days after such change. Then, the notices, documents or applications specified
herein shall be sent according to the contact information after the change.

 

Article 18 The validity of this Contract
shall be independent of this Contract and may not be affected by the invalidity of the Main Contract.

 

Article 19 Other provisions agreed by both
Parties

 

Article 20 This Contract has been made
out in three originals, for Party A, Party B and the related party each holding one, which shall be equally authentic.

 

Article 21 When this Contract is signed,
Party B has explained and interpreted in details all the terms and conditions of this Contract to Party A, and both Parties have
no objection to the terms and conditions of this Contract. Both Parties have accurate understanding of the legal meaning of their
corresponding rights and obligations, limitation of responsibilities or disclaimers. 

 

Article 22 Both Parties agree and authorize
Party B irrevocably to report relevant information to the financial credit information database established by the State. Such
information shall include the name, registered address and other related information of this institution, the transaction records,
credit information and bad information (including failure to perform obligations of this Contract, the institution’s performance
of obligations and enforcement ruled or judged by the people’s court, and other relevant bad information prescribed by laws
and regulations) generated during business activities and performance activities of this institution under this Contract.

 

This Contract is signed by Party A and
Party B in Shenzhen.

 

Party A: Shupeng Technology (Shenzhen)
Co.,wd Ltd. (Seal) (Seal)

 

Legal Representative / Main Principal:
Pan Dangyu (Seal)

 

Date:

 

Party B: CHINA MINSHENG BANKING CORP.,
LTD. SHENZHEN BRANCH (Seal) (Seal)

 

Legal Representative / Main Principal:
Ou Yangyong (Signature) 

 

	(Or Authorized Agent)	(Signature or Seal)

 

Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}]]