Document:

Exhibit 10.2

 

COMPREHENSIVE CREDIT LINE CONTRACT

Contract No.: Pingyin (Shenzhen) Zongzi A250201805140001

 

Party A (Line Grantor): PINGAN BANK CO., LTD.
SHENZHEN BRANCH 

Address: NO1099 Shennan Road, Shenzhen

Legal Representative (Principal): Zhiqun Yang

Tel.: 23480023

 

Party B (Line Applicant): SHENZHEN HIGHPOWER
TECHNOLOGY CO., LTD.

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

Legal Representative: Dangyu Pan

Tel.:26300469

 

Whereas Party B applies Party A for a comprehensive
credit line, in accordance with the Contract Law and other relevant laws and regulations, Party A and Party B hereby make
and enter into this Contract upon consensus through consultation.

 

Article 1 Credit Line and Category

 

		1.1	Amount of comprehensive credit line: Party A agrees to grant to Party B a comprehensive credit line
of (Currency) RMB (in figures) 70,000,000.00 Yuan (in words) seventy million Yuan only. This line is applicable
to multiple-currency credit. The exchange rate of currencies other than RMB shall be converted according to the foreign exchange
rate published by Party A when the specific business occurs.

 

		1.2	The period of the comprehensive credit line follows the following (1):

 

		(1)	From May 15th 2018 to May 14th 2019.

 

		(2)	     
                                         Year(s)         month(s), calculated from
                                         the date when the Contract comes into force.

 

During the credit period, the credit line (√)
can be recycled ( ) cannot be recycled, but the sum of the balances of all the credit categories within the credit line shall not
exceed the amount of the comprehensive credit line. When the credit period expires, the unused balance shall become automatically
invalid.

 

Credit period means the occurrence period
of the specific credit under a line (i.e. the period for determining the debt). The start date of the specific credit under the
line must be included in the credit period and the termination date of the specific credit may exceed the credit period. The start
date and termination date of the specific credit shall accord with the specific credit business contract.

 

		1.3	The credit granting method of this credit line shall include but not be limited to:

 

Loan bank lending, bill acceptance and discount,
overdraft, factoring, security, loan commitment and opening of L/C.

 

		1.4	The category/credit granting method, amount, interest rate, tariff and term of the specific credit
under the line shall accord with the single credit contract and IOU or other credit vouchers.

 

    	 	 	 

     

    

 

		1.5	Transfer of credit under the line

 

Party B agrees to transfer the credit line to
the following a third party to use (in other words, the following object may use the credit line), and Party B shall undertake
the joint guarantee liability for the principal, interest, default interest and compound interest of all the debts (including contingent
debts) under the line, and the expense for realizing the creditor’s rights (including but not limited to legal cost, attorney
fee, notary fee and execution fee), and other losses and expenses caused to Party A due to the debtor’s breach of contract.
The guarantee period shall be from the date of effectiveness of the specific credit contract to two years after the expiration
of the debt performance term specified in the credit contract (including acceleration of maturity of debt).

 

The specific credit-transferred object and amount are as follows:

 

( )                                    
(the transferee), amount: (converted into)        (currency) (in words) ;

( )                                    
(the transferee), amount: (converted into)       (currency) (in words) ;

( )                                    
(the transferee), amount: (converted into)       (currency) (in words) ;

 

Article 2 Use of Credit Line

 

2.1 Signature of this Contract by and between Party A and Party
B shallnot constitute Party A’s credit commitment to Party B. Party B shall present a written application to Party A for
each specific credit business under the line, and Party A shall have the right to make its own decision on whether to grant to
Party B a single credit under the line. If Party A agrees to grant the single credit through examination, Party A and Party B shall
make and enter into a single credit contract additionally according to the business nature.

 

2.2 Preconditions for use of the credit line:

 

(1) Party B has handled the legal procedures (if any) for government
license, approval, registration and delivery for the credit under this Contract according to relevant laws and regulations;

 

(2) The related security contract is effective (if any);

 

(3) Party B has paid off all the expenses related to this Contract
(if any);

 

(4) Party B meets the credit conditions specified herein;

 

(5) There is no adverse change to the business and financial conditions
of Party B and the guarantor (if any);

 

(6) There is no adverse change to Party B’s repayment willingness
and the guarantee willingness of the guarantor (if any);

 

(7) Party B has no breach of this Contract.

 

2.3 Party A has the right to adjust the amount of the credit line
or ask Party B to add guaranty where there is any change of the exchange rate.

 

2.4 Party A has the right to supervise the use of the credit line
and the orientation of the credit funds, and Party B shall provide coordination.

 

2.5 If, prior to or during the use of the credit line, Party A’s
regulatory department requests Party A to control the credit scale or orientation due to change of national macro-control policies,
or Party A is unable to grant to Party B to use the credit line for causes not attributable to Party A, Party A shall have the
right to suspend or terminate the use of this credit line and cancel this Contract, for which Party B shall have no objection.

 

    	 	 	 

     

    

 

Article 3 Repayment

 

3.1 Party B shall open an account in Party A and deposit the amount
repayable to this account prior to the specified date of repayment.

 

3.2 Party B shall perform the debt on time when each single credit
within the line expires, or the related credit shall be deemed overdue or advances shall be made.

 

3.3 Party B hereby irrevocably authorizes Party A to deduct the
principal and interest of the due credit and related expenses from any and all accounts opened by Party B in any banking branch
of Pingan Bank.

 

Article 4 Party B’s Representations and Warranties

 

4.1 Party B is a company with good reputation duly established and
validly existing within the jurisdiction of the location where it is located. Party B has all corporate rights and has obtained
the government license and approval for conducting its current business.

 

4.2 Party B has completed all the authorizations and approvals necessary
for the signature of this Contract. This Contract is the presentation of Party B’s true meaning and may not result in violation
of any agreement or commitment concluded with any a third party. When this Contract is concluded and signed, Party B has not violate
any law, regulation and rule for environmental protection, energy conservation and emission reduction, and pollution reduction,
and Party B promises to strictly abide by such laws, regulations and rules after the conclusion of this Contract.

 

4.3 Party B is not involved in any litigation, arbitration execution,
appeal and reconsideration procedure and other incident or case which may have major adverse impact on the execution of this Contract,
unless otherwise Party B notified Party A in wiring prior to the conclusion of this Contract.

 

4.4 Party B shall, within the time limit requested by Party A, provide
its financial statements, number of all opening accounts, loan balance and other relevant materials requested by Party A. Party
B shall ensure the genuine, completeness and objectivity of all the documents and materials provided, which shall have no false
record, misleading representation or material misstatement. The financial statements shall be prepared strictly in accordance with
the Accounting Standards of China.

 

Article 5 Party B’s Rights and Obligations

 

5.1 Party B shall open an account in Party A and handle deposit,
settlement and other related services firstly in Party A.

 

    	 	 	 

     

    

 

5.2 If Party B is a customer group, it shall give a written report
to Party A within ten days after the date of affiliated transaction of over 10% of net assets. The report contents shall include
the affiliated relation between the transaction parties, transaction item and nature, transaction amount or relevant proportion,
and the pricing policy (including no-money involved transaction or only symbolic-money involved transaction).

 

A customer group as mentioned herein shall mean an enterprise or
public institution legal person who has the following features:

 

(1) It directly or indirectly controls or is directly or indirectly
controlled by another enterprise or public institution legal person in respect of stock right or management;

 

(2) It is jointly controlled by a third party enterprise or public
institution legal person;

 

(3) Its principal individual investor, key manager or a close family
member (including lineal blood relationship within three generations and collateral blood relationship within two generations)
commonly directly or indirectly controls;

 

(4) It has other affiliated relationship and may transfer the assets
and profits not on the basis of fair price, which should be deemed as credit management by a customer group.

 

5.3 If Party B has any one of the following circumstances, it shall
notify Party A thirty days in advance. If Party A thinks it will cause significant impact on the performance of the Contract, Party
B shall obtain Party A’s written consent in advance:

 

(1) material change to Party B’s operating system, equity
structure, property organizational form and primary business, including but not limited to implementation of contracting, lease,
joint operation, reform of shareholding system, merger, acquisition, joint venture (cooperation), division, establishment of a
subsidiary, trusteeship (takeover), sales of enterprise, transfer of property rights and reduction of capital, etc.;

 

(2) disposal of important assets, of which the value exceeds 10%
of the net assets, by selling, gifting, lending, transferring, mortgaging (pledging) or other means;

 

(3) its dividends exceed 30% of the net profits after tax of the
current year or exceed 20% of the total undistributed profits;

 

(4) it adds external investment of over 20% of its net assets after
the credit line becomes valid;

 

(5) it changes the debt clauses with other bank and pay off other
long-term debt in advance;

 

(6) Party B repays its shareholder debt;

 

(7) it applies other bank for a credit line, or provides a third
party with security, or reduces or exempts a third party’s debt, with the debt amount concerned exceeding 20% of its net
assets.

 

5.4 Party B shall notify Party A within seven working days as of
the date of occurrence or possible occurrence of the following matters, and Party A shall have the right to decide whether to request
Party B to add guaranty or directly take back all the loans as the case may be:

 

(1) Party B or the guarantor’s business or financial status
is worsened, or there is significant financial loss, loss of assets (including but not limited to loss of assets caused due to
external guarantee) or other financial crisis;

 

(2) Party B encounters administrative punishment or criminal sanction
or is involved in any significant legal dispute due to its illegal business behavior;

 

(3) Party B, its shareholder or de facto controlling person, or
the legal representative or key manager of the guarantor is involved in an important case, or its main asset goes under property
preservation or other compulsory measures, or encounters administrative punishment or criminal sanction, or there is any other
incident which causes Party B impossible to perform its duties normally;

 

    	 	 	 

     

    

 

(4) Party B or the guarantor provides a third party with guarantee,
causing significant adverse impact on its financial condition or on the performance of its obligations under this Contract;

 

(5) Party B or the guarantor has the following changes, such as
division, consolidation, major merger, acquisition and reconstruction, disposal of major assets, reduction of capital, winding-up,
cease of business for rectification, liquidation, reorganization, being revoked, being dissolved, bankruptcy, or its business license
is revoked;

 

(6) there is obvious reduction or loss of the guaranty value, or
dispute about the ownership of the guaranty; or the guaranty is sealed up, detained, frozen, deducted, detained or sold by auction;
or

 

(7) any other important event or default event which may affect
the business activities of Party B or the guarantor and the loan safety of Party A.

 

5.5 If Party B changes its domicile, mailing address, telephone
number, business scope, legal representative or other relevant items, it shall notify Party A in writing within seven working days
after the change. In the event that Party B fails to perform the said notification obligation, the notices and documents given
by Party A according to the original mailing address shall be deemed to have been served.

 

5.6 Party B shall keep reasonable financial ratios within the service
life of the credit line.

 

(     ) The financial indicators shall reach
the following standard within the service life of the credit line:                                 

 

(     ) 5.7 If Party B handles YIDAITONG business,
Party B shall abide by the following stipulations:

 

(1) Party B shall open settlement accounts in Party A. Party B shall
open payment collection accounts for such three pledge loans as export tax rebates, warehouse warrants and accounts receivable,
and authorize Party A to deduct money directly from these accounts for repayment of this credit.

 

(2) When the loan is released, Party B shall open in Party A and
use the corporate Internet banking product.

 

(3) Party B promises to give propriety to handle in Party A the
increase of mortgage/pledge financing, if any.

 

Article 6 Party A’s Rights and Obligations

 

6.1 From the second year after the effectiveness of a over one-year
(excluding one-year) line, Party A shall have the right to evaluate the business and financial conditions of Party B and the guarantor
(if any) and the progress of the specific project according to the credit conditions specified in the Contract when the credit
line becomes valid, and adjust the credit line, term and interest rate according to the evaluation result.

 

Where there is any mortgaged (pledged) property, Party A shall have
the right to ask for valuating the mortgaged (pledged) property by an appraisal agency accepted by Party A each year. If the value
of the mortgaged (pledged) property is declined obviously and is not enough for guaranteeing the debt under the Main Contract,
Party A shall have the right to ask Party B to repay part of the loan or provide other guarantee measures accepted by Party A.

 

6.2 Party A has the right to ask Party B to provide materials related
to the credit line, enter Party B’s business site, investigate, review and check the use of the credit line and the assets,
financial and business conditions of Party B, for which Party B shall provide coordination. Party A also has the right to supervise
Party B to use the loan for the purpose specified herein.

 

    	 	 	 

     

    

 

6.3 Party A shall bear confidentiality obligation for the materials
provided by Party B, except otherwise prescribed by laws and regulations, or specified by a regulatory authority or by both Parties,
or non-confidential information provided by Party B.

 

Article 7 Breach of Contract

 

7.1 Any one of the following cases shall be deemed as a default
event referred to herein:

 

(1) There is overdue interest, overdue repayment or advance
of the credit hereunder, or the credit funds are used not for the purpose specified by both Parties;

 

(2) Party B violates some of its representations, warranties
and commitments;

 

(3) Party B violates some of its obligations performable hereunder;

 

(4) Party B conceals some genuine important information;

 

(5) Party B or the guarantor evades bank claims through affiliated
transactions or by other means;

 

(6) Party B or the guarantor has any one of the following
behaviors, being negligent in managing and claiming the creditor’s rights due, or disposing and transferring its main properties
free of charge, or at unreasonable low price or by other improper means, or escaping debts;

 

(7) Party B illegally get funds or credit from Party A or
other banks by using a false contract and arrangement with a third party, including but not limited to pledge or discount of the
notes receivable and other claims without actual trading background.

 

(8) Party B or the guarantor violates any other contract (including
but not limited to credit contract, loan contract and guarantee contract) signed with Party A or other banks or any securities
with the nature of debt it issued;

 

(9) Party B’s guarantor violates the guarantee contract
(including but not limited to guarantee contract, mortgage contract and pledge contract) or has any breach of the guarantee contract,
or the guarantee contract has not taken effect, is invalid or is cancelled; or there is obvious reduction or loss of the guaranty
value, or dispute about the ownership of the guaranty, or the guaranty is sealed up, detained, frozen, deducted, detained or sold
by auction;

 

(10) There is any case which should be notified under sub-clauses
5.3 and 5.4 herein that Party A thinks effective on the safety of its creditor’s rights; or

 

(11) The business term of Party B or the guarantor expires
within the credit line period, and Party B or the guarantor fails to handle the procedures for renewal.

 

7.2 In case of any one of these default events listed in the preceding
clause, Party A shall have the right to take the following actions:

 

(1) To adjust, cancel or terminate the comprehensive credit
line hereunder, or to adjust the period and amount of the credit line;

 

(2) To announce immediate maturity of all or part of the credit
under this line; to ask Party B to repay part or all the credit principal, interest and expenses immediately, and pay default interest
for the total credit principal released at the default interest rate from the date of occurrence of the default event until Party
B pays off the total credit principal;

 

Expenses shall include but not be limited to the attorney fee, legal
cost, arbitration fee, traveling expenses, announcement cost, service fee, execution fee, transfer fee and other relevant expenses
of Party A for realizing its creditor’s rights.

 

    	 	 	 

     

    

 

(3) To ask Party B to pay in full the cash deposit for paying
undue acceptance, L/G, L/C or other credit business;

 

(4) To ask Party B to provide new guarantee measures accepted
by Party A;

 

(5) To make deduction directly from the account of Party B’s
guarantor to repay all the debts under this Contract and the specific business contract (including the debts Party A requests for
prepayment), without obtaining Party B’s consent in advance;

 

 (6) To exercise the guarantee right, ask the guarantor to
perform guarantee liability, or realize creditor’s rights through disposal of the mortgaged property and/or pledged property;

 

 (7) Party A claims Party B’s debtor for the right of
subrogation or appeal to the court to revoke Party B’s waiving of the creditor’s right due or Party B's transfer of
property free of charge or at an obviously unreasonable low price. Party B shall provide all necessary coordination and assistance
according to Party A’s requirements, and all the costs and expenses caused to Party A arising therefrom shall be borne by
Party B;

 

(8) Other remedial measures prescribed by laws and regulations and
specified in the Contract.

 

Article 8 Other Provisions

 

1.
Starting from the seventh month after the line of credit is activated, it is necessary to reduce the amount of credit exposure
by 1 million yuan per month.2.During the period of credit granted by Party A, Party B and the guarantor shall not make profit
distribution.3. The amount undertake / coverage the business of pingyin (shenzhen)zongziA250201701030001

 

Article 9 Supplementary Provisions

 

9.1 (    ) Both Parties agree to handle compulsory
enforcement notarization for this Contract.

 

If Party B fails to completely pr partly perform the obligations
specified herein when compulsory enforcement notarization is handled by both Parties for this Contract, Party A shall have the
right to apply the original notary public for an enforcement certificate, and apply the competent people’s court (the people’s
court at the location where the person subject to enforcement lives or where the property of the person subject to enforcement
is located) for enforcement holding the original notarial certificate and the enforcement certificate.

 

(√) No compulsory enforcement notarization shall be
handled for this Contract.

 

9.2 The application for single credit, credit contract, IOU
and credit vouchers related hereto, other relevant documents and materials confirmed by both Parties, and the commitment letter
and declaration issued by Party B unilaterally to Party A shall be deemed as an integral part of this Contract and shall have the
same equal legal force as this Contract.

 

9.3 Party B authorizes Party A to inquire Party B’s credit
standing including information about social insurance from the credit information database of the People’s Bank of China,
the credit database established upon approval by the competent credit investigation authorities, or relevant institutions, departments
and individuals. The credit report acquired through inquiry may be used only within the scope prescribed by the interim measures
for administration of credit information database issued by the People’s Bank of China and other relevant laws and regulations.
As agreed by Party B, Party A may provide Party B’s credit information for the credit information database of the People’s
Bank of China and the credit database established upon approval by the competent credit investigation authorities.

 

    	 	 	 

     

    

 

9.4 Please confirm the options with √ in the brackets before
the selected items.

 

9.5 Any and all disputes arising from the execution of the Contract
shall be settled by both Parties through consultation. Where consultation fails, the following (2) shall be adopted for
dispute settlement:

 

(1) To apply                                     
for arbitration in accordance with the current arbitration rules of the commission. The award of the arbitration shall be final
and binding upon both Parties.

 

(2) To initiate a lawsuit in the people’s
court at the location where Party A is located;

 

(3) To initiate a lawsuit in the people's court.

 

9.6 This Contract shall be governed by the laws of the People's
Republic of China.

 

9.7 This Contract shall come into force upon the signature of all
the parties hereto (signed or sealed by the authorized signatories and affixed with official seal). If Party B does not use the
line within three months as of the date of effectiveness of this Contract, Party A shall have the right to cancel this Contract
unilaterally.

 

9.8 This Contract shall be made out in 3 originals for Party
A holding two and Party B, (     ) the guarantor and (     ) the registration authority
each holding one.

 

Party B hereby represents that it has fully understood all the terms
and conditions of this Contract (especially the bold fonts), and the clauses of the related guarantee contract and other relevant
documents and has taken independent legal consultation (where necessary).

 

Party A (Seal): PINGAN BANK CO., LTD.SHENZHEN BRANCH:

 

Legal Representative (Principal) or Authorized Agent (Signature):

 

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

 

Legal Representative or Authorized Agent: /s/Exhibit 10.2(a)

 

MAXIMUM GUARANTEE CONTRACT

Contract No.: Pingyin (Shenzhen) Zongzi A250201805140001
(Ebao001)

 

Party A (Creditor): PINGAN BANK CO., LTD. SHENZHEN
BRANCH 

Address: NO1099 Shennan Zhonglu Road, Shenzhen

Tel.: 23480023               Fax: __________

Principal: Zhiqun Yang              Position: President

        

Party B (Guarantor): SPRINGPOWER TECHNOLOGY (SHENZHEN)
COMPANY LIMITED

Certificate Type *: Certificate No. *:

(The contents expressed with “*” may
not be written if Party B is an unit)

Address: Building A, Chaoshun Industrial Zone,
Renmin Road, Guanlan

	Tel.:                                                 	Fax:                                         
	Legal Representative**:Dangyu Pan 	Position **: President

 

(The contents expressed with “**”
may not be written if Party B is an individual)

 

Whereas Party B is willing to act as the Guarantor
of Party A and provide Party A with maximum joint liability guarantee in order to ensure the execution of the contract between
Party A and SHENZHEN HIGHPOWER TECHNOLOGY CO., LTD. (hereinafter referred to as the Debtor), IN WITNESS WHEREOF, Party A
and Party B hereby agree to conclude and sign this Contract upon consensus through consultation between both Parties. Both Parties
shall abide by the following terms and conditions.

 

Article 1 Guarantee and Guarantee Liability

 

1.1 Scope of guarantee

 

The scope of guarantee hereunder is as follows
(expressed with “√” in front of the option):

 

(√) The principal, interest, compound
interest and default interest of all the debts (including contingent debts), and the expenses for realizing the creditor’s
rights which shall be borne by the Debtor under the Comprehensive Credit Line Contract of Pingyin (Shenzhen) Zongzi A250201805140001
(hereinafter referred to as “the Main Contract”). The maximum principal (balance) of the debts shall be (converted
into) RMB (currency) (in words) seventy million Yuan only.

 

( ) (Converted into) (currency) (in words) of
the principal of all the debts (including contingent debts) (converted into) (currency) (in words) , and the corresponding interest,
compound interest and default interest, and the expenses for realizing the creditor’s rights which shall be borne by the
Debtor under the Contract of PY No. (hereinafter referred to as “the Main Contract”). Party A shall have the right
to ask Party B to bear guarantee liability for the debt balance within the aforesaid scope of guarantee as long as the debts under
the Main Contract are not fully repaid. 

 

( ) Performance of the debts under all the credit
line contracts and specific credit business contracts (hereinafter referred to as “the Main Contract”) concluded and
signed by and between the Debtor and Party A dated from YYYY MM DD to YYYY MM DD. The date of signature of the Main Contract shall
be within this period and the execution period of the Main Contract is not limited to this period. The scope of Party B’s
maximum guarantee shall include the principal, interest, compound interest and default interest of all the debts (including contingent
debts), and the expenses for realizing the creditor’s rights which shall be borne by the Debtor under the Main Contract.
The maximum principal (balance) of the said debts shall be (converted into) (currency) (in words) .

 

    	 	 	 

     

    

 

( ) The principal of the debts not fully repaid
by the Debtor (converted into) (currency) (in words) , and the interest, compound interest and default interest thereof, and the
expenses for realizing the creditor’s rights under the Contract of PY No. (hereinafter referred to as “the Main Contract”).

 

(     )

 

Interest, default interest and compound interest
shall be calculated according to the stipulations of the Main Contract until the debts are fully repaid. The expenses for realizing
the creditor’s rights shall include but not be limited to announcement cost, delivery fee, appraisal fee, attorney fee, legal
cost, traveling expenses, evaluation fee, auction fee, property preservation cost and enforcement fee. 

 

The exchange rate of currencies other than RMB
shall be converted according to the foreign exchange rate published by Party A when the specific business occurs.

 

1.2 Guarantee period of this Contract:

 

(√) The guarantee period hereunder shall
be from the date of effectiveness of this Contract to two years after the expiration of the debt performance term specified in
the Main Contract. The guarantee period of each specific credit business shall be calculated separately. In case of extension of
any specific credit, the guarantee period shall be extended to two years after the expiration of the extended term.

 

(    ) The guarantee period hereunder
shall be from the date of release of the loan under the Main Contract to the date when handles and completes the procedures for
real estate mortgage registration taking Party A as the mortgagee and the relevant ownership certificates are submitted to Party
A.

 

(    ) The guarantee period hereunder
shall be from the date of effectiveness of this Contract to                                                

 

(   
)

 

If Party A transfers its creditor’s rights
to a third person by law during the guarantee period, Party B hereby agrees to bear guarantee liability within the original scope
of guarantee.

 

1.3 If the Debtor transfers its credit line
granted by Party A to a third party to use, Party B hereby agrees to bear guarantee liability for the transferred part according
to the stipulations of this Contract. The specific credit-transferred object and amount are as follows:

 

1.                                         
(the transferee), amount: (converted into)              (currency)
(in words) ;

2.                                         
(the transferee), amount: (converted into)             (currency)
(in words) ;

3.                                         
(the transferee), amount: (converted into)             (currency)
(in words) ;

4. 

 

1.4 Party B shall bear guarantee liability
hereunder independently. Party A shall have the priority to ask Party B to bear guarantee liability no matter whether there is
any security or guarantee provided by the guarantor (including the debtor of the Main Contract). If Party A waives the guarantee
right for the guaranteed property (including the guaranteed property provided by the Debtor) or for other guarantors, Party B shall
also take full guarantee liability according to the stipulations of this Contract. 

 

    	 	 	 

     

    

 

1.5 This Contract is an irrevocable contract.

 

1.6 The validity of this Contract is independent
from the Main Contract. In case of invalidity of the Main Contract or any clause of the Main Contract, this Contract shall remain
in force.

  

Article 2 Performance of Guarantee Liability

 

2.1 If the Debtor fails to perform any matured
debt (including matured in advance, same below) under the Main Contract, Party B ensures to repay the debt unconditionally after
the receiving of a written payment notice from Party A. Any document about the Debtor’s failure to perform any matured debt
given by Party A shall be deemed as a written payment notice that Party A asks Party B to make payment.

 

2.2 Party B hereby irrevocably authorizes Party
A to deduct the principal and interest of the Debtor’s matured debt and related expenses directly from any and all accounts
opened by Party B in any banking branch of Pingan Bank. Party A shall notify Party B in writing after this deduction and shall
have the right to continuously claim Party B for the insufficient part. If the amount deducted is not enough to repay all the
matured debts and the Debtor delays for less than 90 days (including 90 days), the repayment priority of principal and interest
is as follows: (1) expenses; (2) interest (including default interest and compound interest); (3) principal. If the Debtor delays
for more than 90 days, the repayment priority of the principal and interest of the advance payment is as follows: (1) expenses;
(2) principal; (3) interest (including default interest and compound interest).

 

Article 3 Guarantor’s Warranties and
Commitments

 

3.1 Party B has completed all the authorizations
and approvals necessary for the signature of this Contract. This Contract is the presentation of Party B’s true meaning and
may not result in violation of any agreement or commitment concluded with any a third party. When this Contract is concluded and
signed, Party B has not violate any law, regulation and rule for environmental protection, energy conservation and emission reduction,
and pollution reduction, and Party B promises to strictly abide by such laws, regulations and rules after the conclusion of this
Contract.

 

3.2 Party B is not involved in any litigation,
arbitration, execution, appeal and reconsideration procedure and other incident or case which may have major adverse impact on
the execution of this Contract, unless otherwise Party B notified Party A in wiring prior to the conclusion of this Contract.

 

3.3 The following provisions are applicable if
Party B is a legal person:

 

3.3.1 Party B is a company with good reputation
duly established and validly existing within the jurisdiction of the location where it is located. Party B has all corporate rights
and has obtained the government license and approval for conducting its current business.

 

3.3.2 Party B shall, within the time limit requested
by Party A, provide its financial statements, number of all opening accounts, loan balance and other relevant materials requested
by Party A. Party B shall ensure the genuine, completeness and objectivity of all the documents and materials provided, which shall
have no false record, misleading representation or material misstatement. The financial statements shall be prepared strictly in
accordance with the Accounting Standards of China.

 

    	 	 	 

     

    

 

3.4 The following provisions are applicable if
Party B is an individual:

 

3.4.1 Party B has provided his personal and family
incomes and properties, and other relevant materials required by Party A, and Party B warrants the genuine, completeness and accuracy
of the documents and materials that Party B has provided.

 

3.4.2 Party B warrants coordinating Party A to
supervise and inspect the incomes and credit conditions of Party B. If Party A thinks the loan guarantee conditions worsened during
the execution period of this Contract, Party B shall provide other guarantee measures accepted by Party A.

 

Article 4 Guarantor’s Rights and Obligations

 

4.1 Party B shall have the right to ask Party
A to bear confidentiality obligation for the materials provided by Party B, except otherwise prescribed by laws and regulations,
or specified by a regulatory authority or by both Parties, or non-confidential information provided by Party B.

 

4.2 Party B has carefully read the Main Contract
and confirmed all the clauses of the Main Contract. Party B may not confirm the single credit contract or IOU or other credit business
voucher under the Main Contract which does not exceed the specification of the Main Contract. 

 

Party A and the Debtor may not obtain Party
B’s consent for change of the Main Contract. Party B shall continuously bear joint guarantee liability for the Main Contract
after change. However, if the principal of the debit is increased and the loan term is extended without Party B’s written
consent, Party B shall continuously bear guarantee liability according to the amount and term originally specified in the Main
Contract. 

 

4.3 Party B shall accept and ensure to coordinate
Party A to supervise and inspection Party B’s management situations and guarantee capacity. Party B shall allow Party A to
enter Party B’s business site for inspecting Party B’s assets, financial status and management situations.

 

4.4 ( ) In case of transfer of major property
rights, system change or transfer of claims and debts occurring to Party B, Party B shall notify Party A of the relevant issues
in advance and obtain Party A’s written consent prior to such change.

 

( ) If Party B has any one of the following circumstances,
it shall notify Party A thirty days in advance. If Party A thinks it will cause significant impact on the performance of the Contract,
Party B shall obtain Party A’s written consent in advance:

 

(1) material change to Party B’s operating
system, equity structure, property organizational form and primary business, including but not limited to implementation of contracting,
lease, joint operation, reform of shareholding system, merger, acquisition, joint venture (cooperation), division, establishment
of a subsidiary, trusteeship (takeover), sales of enterprise, transfer of property rights and reduction of capital, etc.;

 

(2) disposal of important assets, of which the
value exceeds 10% of the net assets, by selling, gifting, lending, transferring, mortgaging (pledging) or other means;

 

(3) its dividends exceed 30% of the net profits
after tax of the current year or exceed 20% of the total undistributed profits;

 

(4) it adds external investment of over 20% of
its net assets after the Contract becomes valid;

 

(5) it changes the debt clauses with other bank
and pay off other long-term debt in advance;

 

(6) Party B repays its shareholder debt; or

 

    	 	 	 

     

    

 

(7) it applies other bank for a credit line, or
provides a third party with security, or reduces or exempts a third party’s debt, with the debt amount concerned exceeding
20% of its net assets.

 

4.5 Party B shall notify Party A within seven
working days as of the date of occurrence or possible occurrence of the following matters, and Party A shall have the right to
decide whether to request Party B and the Debtor to add guaranty or directly take back all the loans as the case may be:

 

(1) business or financial status is worsened;

 

(2) Party B is highly fined by a competent authority
or is involved in major legal dispute;

 

(3) Party B, its shareholder, its legal representative
or key manager is involved in an important case, or Party B’s main asset goes under property preservation or other compulsory
measures; or there is any other incident which causes Party B’s legal representative or key manager impossible to perform
his duties normally;

 

(4) Party B provides a third party with guarantee,
causing significant adverse impact on its financial condition or on the performance of its obligations under this Contract;

 

(5) Party B goes into winding-up, ceasing of its
operation for reorganization, dissolution, closedown or bankruptcy, or its business license is revoked;

 

(6) its economic conditions become bad, such as
unemployment, unit bankruptcy, or major loss of personal property, major adverse change of personal physical health, divorce with
spouse, and other matters which may affect Party B’s capacity to perform this Contract; or

 

(7) any other important event or default event
which may affect the business activities of Party B and the loan safety of Party A.

 

4.6 If Party B changes its domicile, mailing address,
telephone number, business scope, legal representative (work unit) or other relevant items, it shall notify Party A in writing
within seven working days after the change. In the event that Party B fails to perform the said notification obligation, the notices
and documents given by Party A according to the original mailing address shall be deemed to have been served.

 

4.7 ( ) Party B shall keep reasonable financial
ratios within the loan term.

 

( ) The financial indicators shall reach the following
standard within the loan term:

  

Article 5 Breach of Contract

 

5.1 Any one of the following cases shall be
deemed as a default event referred to herein:

 

(1) Party B fails to perform the compensative
liability on time and in full;

 

(2) Party B violates some of its warranties and
commitments or has any other behavior not performing the obligations hereunder;

 

(3) Party B transfers its property or draws out
capital;

 

(4) Party B has breach of contract under other
contracts signed and concluded with Party A or any other banks; or

 

(5) there is any major adverse change of Party
B’s business and financial status.

 

5.2 In case of any one of these default events
listed in the preceding clause, Party A shall have the right to take the following actions:

 

(1) To ask Party B to perform the compensative
liability immediately;

 

(2) To ask Party B to provide new guarantee measures
accepted by Party A;

 

    	 	 	 

     

    

 

(3) Party A claims Party B’s debtor for
the right of subrogation or appeal to the court to revoke Party B’s waiving of the creditor’s right due or Party B's
transfer of property free of charge or at an obviously unreasonable low price. Party B shall provide all necessary coordination
and assistance according to Party A’s requirements, and all the costs and expenses caused to Party A arising therefrom shall
be borne by Party B; or

 

(3) Other remedial measures prescribed by laws
and regulations.

 

Article 6 Other Provisions

 

( ) The Bank Enterprise Guarantee Business
Cooperation Agreement (hereinafter referred to as the Agreement) concluded and signed by and between Party A and Party B is
a fundamental legal document for standardizing the relation of rights and obligations between both Parties. In case of any discrepancy
between this Contract and the Agreement, the Agreement shall prevail.

 

During the period of credit,
Party B shall not make profit distribution.

 

Chapter 7 Supplementary Provisions

 

7.1 ( ) Both Parties agree to handle compulsory
enforcement notarization for this Contract.

 

If Party B fails to completely or partly perform
the obligations specified herein when compulsory enforcement notarization is handled by both Parties for this Contract, Party A
shall have the right to apply the original notary public for an enforcement certificate, and apply the competent people’s
court (the people’s court at the location where the person subject to enforcement lives or where the property of the person
subject to enforcement is located) for enforcement holding the original notarial certificate and the enforcement certificate.

 

(√) No compulsory enforcement notarization
shall be handled for this Contract.

 

7.2 Party B authorizes Party A to inquire Party
B’s credit standing including information about social insurance from the credit information database of the People’s
Bank of China, the credit database established upon approval by the competent credit investigation authorities, or relevant institutions,
departments and individuals. The credit report acquired through inquiry may be used only within the scope prescribed by the interim
measures for administration of credit information database issued by the People’s Bank of China and other relevant laws and
regulations. As agreed by Party B, Party A may provide Party B’s credit information for the credit information database of
the People’s Bank of China and the credit database established upon approval by the competent credit investigation authorities.

 

7.3 Please confirm the options with √ in
the brackets before the selected items.

 

7.4 Any and all disputes arising from the execution
of the Contract shall be settled by both Parties through consultation. Where consultation fails, the following (2) shall
be adopted for dispute settlement:

 

(1) To apply                    
/               for arbitration in accordance with the
current arbitration rules of the commission. The award of the arbitration shall be final and binding upon both Parties.

 

(2) To initiate a lawsuit in the people’s
court at the location where Party A is located;

 

(3) To initiate a lawsuit in the people's court
of             /           .

 

7.5 This Contract shall be governed by the laws
of the People's Republic of China.

 

7.6 This Contract shall come into force upon the
signature of all the parties hereto (if one party is a natural person, the Contract shall be signed by the party; if one party
is a legal person or other organization, the Contract shall be signed or sealed by the authorized signatory and affixed with the
official seal).

 

    	 	 	 

     

    

 

7.7 This Contract shall be made out in three
originals for Party A holding two and Party B, ( ) the Debtor and ( ) the registration authority each holding one.

 

Unit Seal of Party A:

Signature of Legal Representative or Authorized
Agent:

  

Seal of Party B (if an unit):

Signature of Legal Representative or Authorized
Agent:

 

Signature of Party B (if an individual) In person:

or Authorized Agent:

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