Document:

Exhibit 10.20

 

Spousal Consent

 

I, Jianping Cheng (ID number: 51011119680403353X), am the legal
spouse of Yuanfen YANG (ID number: 510107197408210928) (“My Spouse”). I hereby unconditionally and irrevocably agree
My Spouse to sign the following documents (the “Transaction Documents”) on September 6, 2018, and agree to dispose
of the equity interest in Chengdu Puyi Bohui Information Technology Co., Ltd. (the “Company”) held by and registered
under the name of My Spouse in accordance with the provisions of the following documents:

 

		(1)	The Equity Pledge Agreement entered into by My Spouse, Puyi Enterprises Management Consulting Co., Ltd. (“WFOE”),
the Company, and other related party;

 

		(2)	The Exclusive Option Agreement entered into by My Spouse, WFOE, the Company, and other related party; and

 

		(3)	The Power of Attorney executed by My Spouse authorizing WFOE to enjoy and exercise his/her rights and obligations raising from
the shareholding of equity interests in the Company.

 

I hereby confirm that I am not entitled to any right with respect
to the equity interest in the Company, and undertake not to raise any claim on the equity interest in the Company. I further confirm
that My Spouse’s performance of the Transaction Documents and further modification or termination of the Transaction Documents
will not require my separate authorization or consent.

 

I hereby undertake to sign all necessary documents and take
all necessary actions to ensure the Transaction Documents (as amended from time to time) to be properly performed.

 

I hereby agree and undertake that if I obtain any equity interest
in the Company for any reason, I shall be bound by the Transaction Documents (as amended from time to time) and abide by the obligations
of the shareholders of the Company under the Transaction Documents (as amended from time to time), and for such purpose, once requested
by WFOE or its appointed third party, I shall sign a series of written documents with substantially the same form and content as
the Transaction Documents (as amended from time to time).

 

	By:	/s/ Jianping Cheng	 	By:	/s/ Jianhua Feng
	 	 	 	 	 
	Signatory: Jianping Cheng	 	Witness: Jianhua Feng
	Date: September 6, 2018	 	Date: September 6, 2018

 

Strictly ConfidentialExhibit 10.21

 

Power
of Attorney

 

I,
Haifeng Yu, a Chinese citizen with Chinese Identification Card No.: 410103197407181353, and a holder of 99.06% of the entire registered
capital in Chengdu Puyi Bohui Information Technology Co., Ltd., (the “Company”) (the “My Shareholding”),
hereby irrevocably authorize Puyi Enterprises Management Consulting Co., Ltd. (the “WFOE”) to exercise the following
rights relating to My Shareholding during the term of this Power of Attorney:

 

	1.	The
                                         WFOE is hereby authorized to act on behalf of myself as my exclusive agent and attorney
                                         with respect to all matters concerning My Shareholding, including without limitation
                                         to: 1) attend shareholders' meetings of the Company; 2) exercise all the shareholder's
                                         rights and shareholder's voting rights I am entitled to under the laws of China and the
                                         Company’s Articles of Association, including but not limited to the sale or transfer
                                         or pledge or disposition of My Shareholding in part or in whole; and 3) designate and
                                         appoint on behalf of myself the legal representative, the executive director and/or director,
                                         supervisor, the chief executive officer and other senior management members of the Company.
	 	 
	2.	Without
                                         limiting the generality of the powers granted hereunder, the WFOE shall have the power
                                         and authority under this Power of Attorney to execute the Transfer Contracts stipulated
                                         in Exclusive Option Agreement, to which I am required to be a party, on behalf of myself,
                                         and to effect the terms of the Share Pledge Agreement and Exclusive Option Agreement,
                                         both dated the date hereof, to which I am a party.
	 	 
	3.	All
                                         the actions associated with My Shareholding conducted by the WFOE shall be deemed as
                                         my own actions, and all the documents related to My Shareholding executed by the WFOE
                                         shall be deemed to be executed by me. I hereby acknowledge and ratify those actions and/or
                                         documents by the WFOE.
	 	 
	4.	The
                                         WFOE is entitled to re-authorize or assign its rights related to the aforesaid matters
                                         to any other person or entity at its own discretion and without giving prior notice to
                                         me or obtaining my consent.

 

This
Power of Attorney is coupled with an interest and shall be irrevocable and continuously valid from the date of execution of this
Power of Attorney, so long as I am a shareholder of the Company.

 

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

 

This
Power of Attorney is written in Chinese and English; in case there is any conflict between the Chinese version and the English
version, the Chinese version shall prevail.

 

	By:	/s/ Haifeng Yu	 	By:	/s/ Jianhua Feng
	 	 	 	 	 
	Signatory: Haifeng Yu	 	Witness: Jianhua Feng
	Date: September 6, 2018	 	Date: September 6, 2018

 

 

 

Strictly ConfidentialExhibit 10.22

 

Power
of Attorney

 

I, Yuanfen Yang, a Chinese citizen with Chinese Identification Card No.: 510107197408210928, and a holder of 0.96%
of the entire registered capital in Chengdu Puyi Bohui Information Technology Co., Ltd., (the “Company”) (the “My
Shareholding”), hereby irrevocably authorize Puyi Enterprises Management Consulting Co., Ltd. (the “WFOE”) to
exercise the following rights relating to My Shareholding during the term of this Power of Attorney:

 

	1.	The WFOE is hereby authorized to act on behalf of myself as my exclusive
agent and attorney with respect to all matters concerning My Shareholding, including without limitation to: 1) attend shareholders'
meetings of the Company; 2) exercise all the shareholder's rights and shareholder's voting rights I am entitled to under the laws
of China and the Company’s Articles of Association, including but not limited to the sale or transfer or pledge or disposition
of My Shareholding in part or in whole; and 3) designate and appoint on behalf of myself the legal representative, the executive
director and/or director, supervisor, the chief executive officer and other senior management members of the Company.
	 	 
	2.	Without limiting the generality of the powers granted hereunder, the WFOE
shall have the power and authority under this Power of Attorney to execute the Transfer Contracts stipulated in Exclusive Option
Agreement, to which I am required to be a party, on behalf of myself, and to effect the terms of the Share Pledge Agreement and
Exclusive Option Agreement, both dated the date hereof, to which I am a party.
	 	 
	3.	All the actions associated with My Shareholding conducted by the WFOE shall
be deemed as my own actions, and all the documents related to My Shareholding executed by the WFOE shall be deemed to be executed
by me. I hereby acknowledge and ratify those actions and/or documents by the WFOE.
	 	 
	4.	The WFOE is entitled to re-authorize or assign its rights related to the aforesaid matters to any
other person or entity at its own discretion and without giving prior notice to me or obtaining my consent.

 

This Power of Attorney
is coupled with an interest and shall be irrevocable and continuously valid from the date of execution of this Power of Attorney,
so long as I am a shareholder of the Company.

 

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

  

This Power of Attorney is written in Chinese
and English; in case there is any conflict between the Chinese version and the English version, the Chinese version shall prevail.

 

	By:	/s/ Yuanfen Yang	 	By:	/s/ Jianhua Feng
	 	 	 	 	 
	Signatory: Yuanfen Yang	 	Witness: Jianhua Feng
	Date: September 6, 2018	 	Date: September 6, 2018

 

Strictly ConfidentialExhibit 10.23

 

Chengdu Puyi Bohui Information Technology Co., Ltd.

Equity Entrustment Agreement

 

This Equity Entrustment
Agreement (hereinafter referred to as “this Agreement”) is entered into between the following parties in [name of city]
of the People’s Republic of China (hereinafter referred to as “China”) on  [date]:

 

Party A (Dormant Shareholder): [Name],
[Chinese] natural person, with ID Card No./Passport No.:[                  ];

 

Party B (Registered Shareholder):
Yu Haifeng, with ID card No.: 410103197407181353.

 

Whereas,

 

Chengdu
Puyi Bohui Information Technology Co., Ltd. (hereinafter referred to as the “Company”), (unified
social credit code: 91510100594666757E), is a limited liability company legally established and existing under the Chinese law
with RMB 600 million registered capital.

 

Party A, as the Company’s
Dormant Shareholder, beneficially holds [  ]% of the Company’s equity, and Party B, as a Registered Shareholder of the Company
according to its current industrial and commercial registration, beneficially holds 48% of the Company’s equity interests,
and is currently registered as holding a total of 99.04% of the Company’s equity interests. Party A has previously entrusted
Party B to hold the Company’s equity interests beneficially owned by Party A as mentioned above on its behalf (hereinafter
referred to as “Onshore Entrusted Shares”), pursuant to an entrustment relationship established between Party A and
Party B (hereinafter referred to as “Entrustment Relationship”) on [MM] [DD], [YY].

 

Whereas, in order to
acknowledge in writing the entrustment relationship between the two parties and ownership of the entrusted equity , Party A and
Party B, entered into the following agreement through friendly consultation in accordance with the applicable laws and regulations,
and in the spirit of equality and mutual benefit and in good faith.

 

	1.	Entrusted Rights

 

	1.1.	In order to clarify the ownership of the entrusted equity, Party A and Party B herein acknowledge
that Party A entrusts Party B to act as an attorney-in-fact to hold the Onshore Entrusted Shares on behalf of Party A. Party A
shall only be entitled to the rights to dispose of the Onshore Entrusted Shares and to receive distributions on or from such Onshore
Entrusted Shares, and Party B shall have the right to exercise shareholder’s rights and interests of the Onshore Entrusted
Shares at its discretion, except the right to dispose of such shares and to receive distributions on or from such Onshore Entrusted
Shares.

 

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Equity Entrustment Agreement
 

    

 

	1.2.	According to this Agreement, the rights and interests (“Nominee Shareholder’s Rights
and Interests”) entrusted by Party A to Party B to exercise on its behalf at its discretion include:

 

		(1)	Registering as the Registered Shareloder of the Company with the local Industry and Commerce Bureau;
	 	 	 

		(2)	Attending and participating in corresponding activities as the Company’s shareholder;
	 	 	 

		(3)	Engaging in the Company’s operation management as the Company’s shareholder;
	 	 	 

		(4)	Attending shareholder meetings and exercising the voting rights;
	 	 	 

		(5)	Appointment and removal of directors;
	 	 	 

		(6)	Other rights the shareholder shall exert pursuant to PRC laws and regulations and the Company’s
Article of Associations, except the right to dispose of and to receive distributions on or from such Onshore Entrusted Shares.

 

	1.3.	Party A shall be no longer entitled to rights and interests as Registered Shareholder except for
the rights to dispose of any Entrusted Shares as aforementioned in Article 1.2.
	 	 

	1.4.	Notwithstanding the foregoing provisions in Article 1.2 and 1.3, under the circumstances of establishing
and reorganizing corporate structure solely for the purpose of public listing, Party A shall authorize Party B to act on its behalf
as its attoney-in-fact to sign and executue relevant agreements (including but not limited to equity pledge agreement, exclusive
equity purchase agreement and power of attorney) and to dispose of the equity according to the such agreements.
	 	 

	1.5.	Equity entrustment relationship can be interpreted as similar legal concepts such as Dormant Shareholders
and Dormant agents, subject to the relevant provisions of the Judicial Interpretation (3) in the Company Law promulgated
by the Supreme People’s Court.

 

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    Chengdu Puyi Bohui Information Technology Co., Ltd.
Equity Entrustment Agreement
 

    

 

	2.	Offshore Entrustment
	 	 

	2.1.	During the term of the equity entrustment, when the Compay
is qualified for overseas listing, if Party A or any third party designated by it beneficially holds equity interests in the Company’s
offshore company which will serve as the listing entity (“Offshore Entrusted Shares”) corresponding to the Entrusted
Shares, Party A shall entrust Party B to hold such Offshore Entrusted Shares on its behalf through a company established in the
British Virgin Islands (“BVI Company”).
	 	 

	2.2.	Party B, as the de facto controller of the BVI Company,
which is the Registered Shareholder of the Offshore Entrusted Shares, shall has the discretion to exercise Shareholders’
rights and interests as the Registered Shareholder of the Offshore Entrusted shares, in accordance with the provisions in Article
1.2, except the right to dispose of and to receive distributions on or from such Onshore Entrusted Shares. Party A shall be only
entitled to the rights to dispose of Offshore Entrusted Shares and to receive distribution from such Offshore Entrusted Shares.
	 	 

	3.	Party A’s Rights and Obligations
	 	 

	3.1.	Party A, as the de facto owner of the Onshore Entrusted
Shares and Offshore Entrusted Shares (if any) (jointly known as “entrusted shares”), shall have the right to obtain
the proceeds from the investment and to dispose of the the Entrusted Shares. Party B shall only enjoy the rights and interets
as the Registered Shareholer of the Entrusted Shares, but not be entitled to any shareholder’s rights to receive the distribution
from or to dispose of any Entrusted Shares (including but not limited to transfer, pledge, and deliver of the shareholder’s
equity) which is obtained through capital contribution.
	 	 

	3.2.	During the term of the euqity entrustment, Party A has
the right to transfer the relevant shareholder’s equity to itself or any third party designed by itself, and Party B and
the Company shall agree to the transfer unconditionally and fully cooperate to faciliate the procedures of registration for changes.
However, if the Company is qualified for listing, it shall be executed according to Article 2 herein.
	 	 

	3.3.	Party A, as the de facto controller of the entrusted equity,
has the right to supervise and correct Party B’s improper trustee behavior according to this Agreement, but Party A shall
not arbitrarily interfere in Party B’s normal activities within the scope of the entrusted rights.
	 	 

	3.4.	Party A is obliged to remit the subscription payment for
the Entrusted Shares into the Company’s account on time, in accordance with the Articles of Association of the Company.

 

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Equity Entrustment Agreement
 

    

 

	4.	Party B’s Rights and Obligations
	 	 

	4.1.	Party B has the right to put its name on the Company’s
business registration information according to Party A’s entrustment.
	 	 

	4.2.	As the Company’s Registered Shareholder and the de
facto controller of the BVI company, Party B promises that the Entrusted Shares it holds shall be bound by this Agreement. But
Party B shall not need to obtain Party A’s consent for the exercise of voting rights in the process of participating in
the businss operation and management of the Company as a shareholder.
	 	 

	4.3.	Party B promises that it will transfer future distributions
on or from the Entrusted Shares (including but not limited to cash dividends, bonuses or any other kind of distribution) to Party
A
	 	 

	4.4.	When Party A requests Party B to return the Entrusted Shares
when conditions permit, or Party A requires Party B to dispose of all its Offshore Entrusted Shares, Party B shall full cooperate
to assist Party A to complete all procedures of registration for changes.

		 	 

	5.	Term of Entrustment
	 	 

 This entrustment shall be valid from the date on which Party A and Party B established the entrustment relationship, which was [MM] [DD], [YY] and expire on the date of any following events, whichever comes first: the Parties hereto agree that Party B transfers the Entrusted Shares bac and completes the procedures of registration for change with the Industry and Commercial Bureau, or Party A required Party B to dispose of all its Offshore Entrusted Shares.

 

	6.	Confidentiality

 

 Both Party A and Party B shall be obliged to keep confidential the contents of this Agreement and any business information of the other party related to communications, execution and performance hereof , unless there is clear evidence showing that such information is publicly known or authorized in writing by the other party. Any party that causes losses to the other party for violating such obligation shall compensate the other party for the corresponding losses.

 

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    Chengdu Puyi Bohui Information Technology Co., Ltd.
Equity Entrustment Agreement
 

    

 

	7.	Governing Laws and Dispute Resolution

 

	7.1.	The conclusion, validity, interpretation, performance,
modification and termination of this Agreement and the resolution of disputes shall be governed by and construed in accordance
with the relevant laws and regulations of the People’s Republic of China.
	 	 

	7.2.	The Parties hereto shall first resolve any dispute arising
from or related to the Agreement through friendly negotiation. If the dispute remains unresolved within 30 days after the other
party issues a written notice requesting a settlement, such dispute shall be submited for arbitration to the China Nansha International
Arbitration Center in Nansha, Guangzhou, in accordancew with applicable arbitration rules. The language used for arbitration will
be Chinese and the arbitral ruling shall be final and binding on the Parties hereto.
	 	 

	7.3.	If there is any dispute arising from the interpretation
and fulfillmentof this Agreement or there is any dispute under arbitration, apart from the disputed matters, the parties to this
Agreement shall continue to exercise their other respective rights and perform their other respective obligations under this Agreement.

		 	 

	8.	Miscellaneous
	 	 

	8.1.	This Agreement is made in duplicate, with each party holding
one with the equal legal force.
	 	 

	8.2.	Any changes or additions to this Agreement are subject
to the written consent of the Parties hereto. For matters uncovered herein, the Parties hereto shall sign a supplementary agreement
after further mutual negotation.
	 	 

	8.3.	The signing of this Agreement constitutes the written acknowledgement
of the agreement between Party A and Party B on the formation of the entrustment relationship and the ownership of the Entrusted
Shares. The date of signing this Agreement does not affect the effectiveness of the entrustment relationship.

 

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Equity Entrustment Agreement
 

    

 

(The remainder of this page is intentionally
left blank as the signing page of Equity Entrust Agreement for Chengdu Puyi Bohui Information Technology Co., Ltd.)

 

Date:

 

	Party A:	 	Party B:
	 	 	 
	 	 	 
	 	 	Yu Haifeng

 

 

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