Document:

EX-10.5

 Exhibit 10.5 
  

 
  

Beijing ForU Duoduo Information Technology Co., Ltd. 

Shan Dandan, Wang Hongxin, Suzhou Zhongding No. 4 Venture 

Capital Center (Limited Partnership) 

and 
 Nanjing ForU
Online Electronic Commerce Co., Ltd. 
 Exclusive Option Agreement 

 
  

 
 April 1, 2021 

 Exclusive Option Agreement 

This Exclusive Option Agreement (“Agreement”) is executed by and among the following Parties on April 1, 2021: 

 

	(1)	 Beijing ForU Duoduo Information Technology Co., Ltd. (the “WFOE”), a wholly foreign-owned
company duly incorporated and validly existing under the laws of the People’s Republic of China, with its registered address at 428B, 4th floor, No.31 Fuchengmenwai Street, Xicheng District, Beijing; 

 

	(2)	 Shan Dandan, a Chinese citizen, her ID number being ******************; 

 

	(3)	 Wang Hongxin, a Chinese citizen, his ID number being ******************; 

 

	(4)	 Suzhou Zhongding No. 4 Venture Capital Center (Limited Partnership), a limited partnership duly
incorporated and valid existing under the law of the People’s Republic of China, with its registered address at Room 207, Building 14, Dongshahu Equity Investment Center, No. 183 Suhong East Road, Suzhou Industrial Park and Zhu Yingchun as
its representative of the executive partner (together with Shan Dandan and Wang Hongxin, the “Existing Shareholders” and each a “Existing Shareholder”); 

 

	(5)	 Nanjing ForU Online Electronic Commerce Co., Ltd. (the “Company”), with its registered address
at 2nd floor, Zone B, Building 1, Guorui building, No. 359 Jiangdong Middle Road, Jianye District, Nanjing. 

 (In
this Agreement, the above parties are individually referred to as a “Party” and collectively referred to as the “Parties”.) 

Whereas, 
  

	1.	 The Existing Shareholders are registered shareholders of the Company and hold all equity interests of
the Company according to law, their respective capital contribution and shareholding ratio in the Company as of the date hereof are as shown in Annex I hereto. 

 

	2.	 The Company and the Existing Shareholders agree to grant an irrevocable and exclusive option to the
WFOE, according to which, the WFOE has the right to purchase all or part of the Company’s equity interests and/or all or part of the Company’s assets and businesses from the Existing Shareholders to the extent permitted by PRC laws.

	3.	 Simultaneously with the execution of this Agreement, the WFOE and the Company entered into an Exclusive
Consulting and Service Agreement (as may be amended from time to time, the “Exclusive Service Agreement”), and the WFOE, the Existing Shareholders and the Company entered into an Equity Interest Pledge Agreement (as may be amended
from time to time, the “Equity Interest Pledge Agreement”) and a Shareholders Voting Proxy Agreement (as may be amended from time to time, the “Shareholders Voting Proxy Agreement”). 

Now therefore, upon mutual discussion and negotiation, the Parties have reached the following agreement: 

 

	1	 Grant of Option 

 

	 	1.1	 The Existing shareholders and the Company hereby irrevocably and unconditionally grant the WFOE an
irrevocable and exclusive right (“Option”) to (a) require the Existing Shareholders to transfer to the WFOE and/or any one or more persons (each, a “Designee”) designated by the WFOE all or part of their
current or future equity in the Company (the “Equity”); or (b) require the Company to transfer to the WFOE and/or any other entity or individual designated by the WFOE all or part of its current or future assets
(“Assets”) and businesses (“Businesses”), to the extent permitted by PRC laws with the methods and steps determined by the WFOE and in the manner prescribed herein at one or multiple times at any time. The WFOE also
agrees to accept the Option. 

  

	 	1.2	 Except for the WFOE and its Designee(s), no third person shall have the Option or other rights in
connection with the Equity, Assets or Businesses. The term “Equity” used herein refers to all shareholder’s rights granted by PRC laws and the Company’s articles of association to the Existing Shareholders due to their
shareholder’s qualifications, including but not limited to the right to earnings of the Company, the right to make major decisions, the right to select managers, etc. The term “Assets” used herein refers to the assets that are
directly or indirectly owned or controlled by the Company from time to time in connection with the Company’s business operations, including current assets, interest in external investment, fixed assets, intangible assets (including but not
limited to patented and unpatented technology), deferred assets, the acquirable interests under all contracts concluded and any other benefits obtainable by the Company, including assets directly or indirectly owned or controlled by the
Company’s branches and offices from time to time. The term “Businesses” used herein refers to all businesses carried out by the Company from time to time. The term “Person” as used in the present section and elsewhere herein
shall refer to any individual, corporation, joint venture, partnership, enterprise, trust or unincorporated organization. For the avoidance of doubt, the Option to purchase the Equity as set forth in Section 1.1 (a) above and the right to
purchase the Company’s Assets and Businesses as set forth in Section 1.1 (b) are not mutually exclusive. If it considers appropriate, the WFOE may exercise such rights at the same time, that is to say, the WFOE may acquire Assets and
Businesses while it is transferred the Equity; the rights to purchase stipulated herein are the sole option of the WFOE, which does not mean that the WFOE has an obligation or commitment to acquire Equity and/or Assets and Businesses. For the
further avoidance of doubt, the WFOE may exercise any of its rights hereunder, including the Option, at any time after this Agreement takes effect. To the fullest extent permitted by PRC laws, in case any Existing Shareholder dies or loses his civil
capacity, the WFOE shall be entitled to exercise its rights hereunder, including the Option, against the Existing Shareholder or his legal heir or agent in accordance with the provisions of this Agreement. 

	2	 Ways to exercise the Option 

 

	 	2.1	 Under the conditions permitted by PRC laws, the WFOE has absolute discretion to decide when, how and how
many times to exercise its Option. If, according to PRC laws then in effect, the WFOE and/or its Designee(s) is allowed to hold all of the Company’s Equity or Assets and Businesses, the WFOE has the right to exercise its Option at one time or
in installments, so that the WFOE and/or its Designee(s) may be transferred all Equity and/or Assets and Businesses from the Existing Shareholders or the Company at one time or in installments; if, according to PRC laws then in effect, the WFOE
and/or its Designee(s) is only allowed to hold part of the Company’s Equity or Assets and Businesses, the WFOE has the right to determine the amount of Equity and/or Assets and Businesses to be transferred within the scope not exceeding the
upper limit proportion (“Ceiling”) stipulated by PRC laws then in effect, and the WFOE and/or its Designee(s) may be transferred Equity and/or Assets and Businesses from the Existing Shareholders or the Company in such amount. In
the latter case, the WFOE has the right to, with the gradual release of the Ceiling permitted by PRC laws, exercise its purchase rights in stages, so as to finally obtain all the Equity and/or Assets and Businesses. Upon each exercise, the WFOE has
the right to decide the amount of Equity, Assets and Businesses to be transferred by the Existing Shareholders and/or the Company to the WFOE and/or its Designee(s) during the exercise, according to which the Existing Shareholders and the Company
shall respectively transfer Equity, Assets and Businesses to the WFOE and/or its Designee(s). Upon each exercise, the WFOE may be transferred the Equity by itself, or by a third party designated in whole or in part. After each exercise, the WFOE
shall issue a notice of exercise of the Option to the Existing Shareholders and the Company (the “Exercise Notice”, the format of which is shown in Annex II hereto). Upon receipt of an Exercise Notice, the Existing Shareholders and
the Company shall immediately transfer all the Equity, Assets and Businesses specified in the Exercise Notice to the WFOE and/or its Designee(s) in the manner described in Section 2 hereof pursuant to the Exercise Notice. 

 

	 	2.2	 The Existing Shareholders and the Company hereby severally and jointly warrant and covenant that once
the WFOE issues an Exercise Notice: 

  

	 	(1)	 It shall immediately convene a shareholders’ meeting and meetings of its board of directors, and
thereon pass resolutions including the waiver of the right of first refusal, and take all other necessary actions, approving the transfer of the Equity, Assets and Businesses specified in the Exercise Notice to the WFOE and/or its Designee(s) at the
price (the “Transfer Price”) determined in accordance with Section 3 hereof; 

  

	 	(2)	 It shall immediately sign an equity transfer agreement or an asset transfer agreement with the WFOE
and/or its Designee(s), and transfer the Equity, Assets and Businesses specified in the Exercise Notice to the WFOE and/or its Designee(s) at the Transfer Price; and 

	 	(3)	 the relevant Parties shall execute all other necessary contracts, agreements or documents (including but
not limited to amendments to the Company’s articles of association), obtain all necessary government licenses, permits, registrations or filings (including but not limited to alteration to the Company’s business license, transfer of
property right, modification of IPR registration, etc.), take all necessary actions to transfer valid ownership of the Equity, Assets and Businesses purchased to the WFOE and/or its Designee(s), free from any security interests and other unfavorable
claims, and cause the WFOE and/or its Designee(s) to become the registered owner(s) thereof, so that the WFOE and/or its Designee(s) may obtain all the transferred Equity, Assets and Businesses specified in the Exercise Notice without legal defects.
For the purpose of this section and this Agreement, “security interests” shall include securities, mortgages, third party’s rights or interests, any stock options, acquisition right, right of first refusal, right to offset,
ownership retention or other security arrangements, but shall be deemed to exclude any security interest created by this Agreement and the Equity Pledge Agreement. 

 

	 	2.3	 Concurrently with the execution of this Agreement, the Existing Shareholders and the Company shall
respectively sign a power of attorney (“Power of Attorney”, the format of which is shown in Annex III hereto), entrusting any person designated by them in writing to sign any and all necessary legal documents on their behalf or on
its behalf in accordance with this Agreement, so as to ensure that the WFOE and/or its Designee(s) acquire all the transferred Equity without legal defects. Such Powers of Attorney shall be kept by the WFOE, and if necessary, the WFOE may require
the Existing Shareholders and the Company to sign multiple copies of their respective Power of Attorney at any time, and may submit such Powers of Attorney to relevant government departments. 

 

	3.	 Transfer Price 

 

	 	3.1	 Whenever the WFOE exercises the Option, the entire Transfer Price to be paid by the WFOE and/or its
Designee(s) to the Existing Shareholders and the Company shall be the lowest price allowed by PRC laws at the time of exercise. The Existing Shareholders and the Company hereby irrevocably agree that: if the applicable law then requires that the
Transfer Price of the Company’s Equity must be based on the appraised value thereof, and (1) the appraised value is higher than the amount corresponding to the Company’s registered capital, the Existing Shareholders and the Company
will waive the part of the appraised value that is higher than the amount corresponding to the Company’s registered capital in a legitimate manner, or return the difference to the WFOE and/or its Designee(s) in a legitimate manner after the
receipt thereof; or (2) the appraised value is lower than the amount corresponding to the Company’s registered capital, the Parties agree to take the appraised value as the Transfer Price. 

	 	3.2	 The Existing Shareholders and the Company hereby irrevocably agree that, upon receipt of such Transfer
Price from the WFOE and/or its Designee(s), it shall return the price to the WFOE and/or any other entity or individual designated by the WFOE within ten (10) working days in a manner consistent with the law. 

 

	4.	 Representations and Warranties 

 

	 	4.1	 The Existing Shareholders hereby represent and warrant as follows, and such representations and
warranties shall remain valid, as if made at the time of the transfer of Equity, Assets and Businesses. 

  

	 	4.1.1	 Each Existing Shareholder is a Chinese natural person and/or enterprise with full capacity; it has full
and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may independently act as a subject of litigation. 

  

	 	4.1.2	 The Company is a limited liability company duly incorporated and validly existing under the laws of the
People’s Republic of China, with independent legal personality; it has full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may independently act as a subject of litigation.

  

	 	4.1.3	 It has full power and authority to execute and deliver this Agreement and all other documents to be
executed by it in connection with the transaction contemplated by this Agreement, and has full power and authority to consummate the transactions contemplated hereunder and to perform its obligations under this Agreement and any other transfer
agreement. 

  

	 	4.1.4	 This Agreement has been duly and properly executed and delivered by the Existing Shareholders. This
Agreement shall constitute a legal and binding obligation on it and is enforceable against it pursuant to the terms hereof. 

	 	4.1.5	 Each Existing shareholder is a legal owner of record of the Company when this Agreement comes into
effect, and has complete and merchantable ownership of its Equity in the Company. Except for the rights created by this Agreement, the Equity Pledge Agreement signed with the Company and the WFOE, and Shareholders Voting Proxy Agreement signed with
the WFOE and the Company, there is no lien, pledge, right of claim or other security interests and third party rights on the Equity, Assets and Businesses. According to this Agreement, the WFOE and/or its Designee(s) will acquire good title to the
Equity, Assets and Businesses free of lien, pledge, right of claim or other security interests and third party rights after the exercise of the Option. 

  

	 	4.1.6	 Neither the execution and delivery of this Agreement or any transfer agreement nor the performance of
the obligations hereunder or thereunder will: (i) cause any violation of any applicable laws; (ii) be inconsistent with the articles of association or other organizational documents of the Company; (iii) cause the violation of any
contracts or instruments to which they are a party or by which they are bound, or constitute any breach under any contracts or instruments to which they are a party or by which they are bound; (iv) cause any violation of any condition for the
grant and/or continued effectiveness of any licenses or permits issued to either of them; or (v) cause the suspension or revocation of or imposition of additional conditions to any licenses or permits issued to either of them.

  

	 	4.1.7	 The Company has complied with all applicable laws and regulations applicable to asset acquisitions, and
there is no pending or threatened litigation, arbitration or administrative proceedings relating to the Equity, Assets or Businesses of the Company or the Company. 

 

	 	4.2	 The Company hereby represents and warrants as follows: 

 

	 	4.2.1	 The Company is a limited liability company duly incorporated and validly existing under the laws of the
People’s Republic of China, with independent legal personality. The Company has full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may independently act as a subject of litigation.

	 	4.2.2	 The Company has full corporate power and authority to execute and deliver this Agreement and all other
documents to be executed by it in relation to the transaction contemplated hereby, and has full corporate power and authority to consummate the transactions contemplated hereunder. 

 

	 	4.2.3	 This Agreement has been duly and properly executed and delivered by the Company. This Agreement
constitutes a legal and binding obligation on it. 

  

	 	4.2.4	 Each Existing shareholder is a legal owner of record of the Company when this Agreement comes into
effect, and has complete and merchantable ownership of its Equity in the Company. The Company has good and merchantable title to all its Assets and Businesses. According to this Agreement, the WFOE and/or its Designee(s) will acquire good title to
the Equity, Assets and Businesses transferred free of lien, pledge, right of claim or other security interests and third party rights after the exercise of the Option. 

 

	 	4.2.5	 The Company has complete business licenses required for its operations when this Agreement comes into
effect, and has full rights and qualifications to carry out its business in China. Since its establishment, the Company has been operating according to law, and there has been no actual or possible violation of the regulations and requirements of
industry and commerce, taxation, culture, quality and technology supervision, labor and social security, and other government departments, and no dispute over breach of contract. 

	 	4.2.6	 Neither the execution and delivery of this Agreement or any transfer agreement nor the performance of
the obligations hereunder or thereunder will: (i) cause any violation of any applicable laws; (ii) be inconsistent with the articles of association or other organizational documents of the Company; (iii) cause the violation of any
contracts or instruments to which they are a party or by which they are bound, or constitute any breach under any contracts or instruments to which they are a party or by which they are bound; (iv) cause any violation of any condition for the
grant and/or continued effectiveness of any licenses or permits issued to either of them; or (v) cause the suspension or revocation of or imposition of additional conditions to any licenses or permits issued to either of them.

  

	 	4.2.7	 The Company has no outstanding debts, except for (i) debts incurred in the ordinary course of
business; and (ii) debts disclosed to the WFOE for which the WFOE’s written consent has been obtained; if the Company is dissolved or liquidated as required by PRC laws, it shall sell all its Assets to the WFOE or the Designee(s) to the
extent permitted by PRC laws at the lowest price permitted by PRC laws. The Company shall exempt the WFOE or its Designee(s) from any payment obligation arising therefrom to the extent permitted by appliable PRC laws then in effect; or any proceeds
from the transaction shall be paid to the WFOE or its Designee(s) as part of the service fees under the exclusive service agreement to the extent permitted by appliable PRC laws then in effect; 

 

	 	4.2.8	 The Company has complied with all applicable laws and regulations applicable to asset acquisitions, and
there is no pending or threatened litigation, arbitration or administrative proceedings relating to the Equity, Assets or Businesses of the Company or the Company. 

 

	5.	 Covenants of Existing Shareholders 

The Existing Shareholders hereby covenant as follows: 
  

	 	5.1	 During the validity period of this Agreement, they must take all necessary measures to enable the
Company to promptly obtain all business licenses required for its business operations and to keep all such licenses valid at all times. 

  

	 	5.2	 During the validity period of this Agreement, without the prior written consent of the WFOE:

  

	 	5.2.1	 No Existing Shareholder may transfer or otherwise dispose of any Equity, Assets or Businesses, or create
any security interests or other third-party rights thereon; 

	 	5.2.2	 They may not increase or decrease the Company’s registered capital or otherwise change the
Company’s structure of registered capital; 

  

	 	5.2.3	 They may not sell, transfer, mortgage or otherwise dispose of or procure the Company’s management
to sell, transfer, mortgage or otherwise dispose of the legitimate or beneficial interests in any asset, business or income of the Company, or allow the creation of any security interest or other encumbrance thereon (except those that occur in the
ordinary course of business); 

  

	 	5.2.4	 They may not execute or terminate or procure the management of the Company to execute or terminate any
major agreement signed by the Company, or execute any other agreement that conflicts with the existing major agreements; 

  

	 	5.2.5	 They may not individually or jointly procure the Company to enter into transactions that may materially
affect the Company’s assets, responsibilities, business operations, shareholding structure, equity held in third parties and other legitimate rights (except those that occur in the ordinary course of business); 

 

	 	5.2.6	 They may not appoint or remove any director, supervisor or other managers of the Company who shall be
appointed or removed by the Existing Shareholders; 

  

	 	5.2.7	 They may not declare the distribution or actually distribute any distributable profits, bonus or
dividends, or vote for the foregoing declaration or distribution; 

  

	 	5.2.8	 They shall guarantee the valid existence of the Company and prevent the Company from termination,
liquidation or dissolution; 

  

	 	5.2.9	 They may not substantially modify the Company’s articles of association in any form; and

  

	 	5.2.10	 They shall keep the Company from giving or borrowing loans, or from providing guarantees or giving other
forms of security, or from undertaking any substantive obligations beyond the ordinary course of business. 

	 	5.3	 During the validity period of this Agreement, they must do their utmost to develop the Company’s
business and guarantee legitimate and compliant operations of the Company. They will have no act or omission that may damage the Company’s assets or goodwill or affect the validity of the Company’s business license, and will procure the
Company to perform its obligations under the Exclusive Service Agreement signed as of the date hereof. If the Existing Shareholders have any outstanding rights to the Equity under this Agreement or under the Equity Pledge Agreement signed by the
Parties hereunder or under the Shareholders Voting Proxy Agreement granted to the WFOE as the beneficiary, unless otherwise instructed by the WFOE in writing, neither of the Existing shareholders may exercise such rights. 

 

	 	5.4	 If the WFOE exercises the Option to purchase Assets and Businesses, after the WFOE or its Designee(s)
are transferred all or part of the Company’s Assets and Businesses and start the operations thereof, the Company and its affiliates may no longer engage in any way in businesses which are the same with or similar to those involved in the
Businesses or Assets transferred and/or which would compete with the aforementioned businesses. 

  

	 	5.5	 They shall immediately notify the WFOE of the occurrence or possible occurrence of any litigation,
arbitration or administrative proceedings relating to the Company’s Equity, Assets, Businesses or income; to maintain the Company’s ownership of all its Assets, they shall execute all necessary or appropriate documents, take all necessary
or appropriate actions and file all necessary or appropriate appeals or make necessary and appropriate defenses to all claims. 

  

	 	5.6	 At the request of the WFOE, they shall provide the WFOE with all materials about the Company’s
operations and financial status. 

  

	 	5.7	 The Existing Shareholders shall procure the Company’s shareholders meeting or board of directors to
vote for the transfer of the Equity and/or Assets and Businesses purchased as specified in this Agreement and to take any and all other actions that the WFOE may require. 

	 	5.8	 At the request of the WFOE at any time, the Existing Shareholders shall immediately and unconditionally
transfer their Equity in the Company to the WFOE and/or the Designee(s) pursuant to the Option hereunder. 

  

	6.	 Covenants of the Company 

 

	 	6.1	 If the execution and performance of this Agreement and the granting of the Option hereunder require the
consent, permission, waiver, authorization of any third party, or approval, permission, release from, or registration or filing with any government agency (if required by law), the Company shall satisfy such conditions. 

 

	 	6.2	 During the validity period of this Agreement, without the prior written consent of the WFOE:

  

	 	6.2.1	 The Company will not assist or allow the Existing Shareholders to transfer or otherwise dispose of any
Equity, Assets or Businesses, or create any security interests or other third-party rights thereon; 

  

	 	6.2.2	 The Company may not increase or decrease the Company’s registered capital or otherwise change the
Company’s structure of registered capital; 

  

	 	6.2.3	 The Company may not sell, transfer, mortgage or otherwise dispose of or procure the Company’s
management to sell, transfer, mortgage or otherwise dispose of the legitimate or beneficial interests in any asset, business or income of the Company, or allow the creation of any security interest or other encumbrance thereon (except those that
occur in the ordinary course of business); 

  

	 	6.2.4	 The Company may not execute or terminate or procure its management to execute or terminate any major
agreement signed by the Company, or execute any other agreement that conflicts with the existing major agreements; 

  

	 	6.2.5	 The Company may not individually or jointly procure the Company to enter into transactions that may
materially affect the Company’s assets, responsibilities, business operations, shareholding structure, equity held in third parties and other legitimate rights (except those that occur in the ordinary course of business); 

	 	6.2.6	 The Company may not appoint or remove any director, supervisor or other managers of the Company who
shall be appointed or removed by the Existing Shareholders; 

  

	 	6.2.7	 It may not declare the distribution or actually distribute any distributable profits, bonus or
dividends, or vote for the foregoing declaration or distribution; 

  

	 	6.2.8	 It shall guarantee the valid existence of the Company and prevent the Company from termination,
liquidation or dissolution; 

  

	 	6.2.9	 It may not substantially modify the Company’s articles of association in any form; and

  

	 	6.2.10	 It shall keep the Company from giving or borrowing loans, or from providing guarantees or giving other
forms of security, or from undertaking any substantive obligations beyond the ordinary course of business. 

  

	 	6.3	 The Company may not carry out or allow any behavior or action that may have a material adverse effect on
the WFOE’s interest hereunder, including but not limited to: selling, transferring, mortgaging or otherwise disposing of any of its own Assets, Businesses, Income or other legal rights, or allowing any security interests or other third-party
rights to be imposed on such Assets, Businesses, income, or other legal rights (except those arising in the ordinary course of business). 

  

	 	6.4	 If the WFOE exercises the Option to purchase Assets and Businesses, after the WFOE or its Designee(s)
are transferred all or part of the Company’s Assets and Businesses and start the operations thereof, the Company and its affiliates may no longer engage in any way in businesses which are the same with or similar to those involved in the
Businesses or Assets transferred and/or which would compete with the aforementioned businesses. 

  

	 	6.5	 At the request of the WFOE, it shall provide the WFOE with all materials about the Company’s
operations and financial status. 

	 	6.6	 If the WFOE exercises the Option to purchase Assets and Businesses, after the WFOE or its Designee(s)
are transferred all or part of the Company’s Assets and Businesses and start the operations thereof, the Company and its affiliates may no longer engage in any way in businesses which are the same with or similar to those involved in the
Businesses or Assets transferred and/or which would compete with the aforementioned businesses. 

  

	 	6.7	 It shall immediately notify the WFOE of the occurrence or possible occurrence of any litigation,
arbitration or administrative proceedings relating to the Company’s Equity, Assets, Businesses or income; to maintain the Company’s ownership of all its Assets, it shall execute all necessary or appropriate documents, take all necessary or
appropriate actions and file all necessary or appropriate appeals or make necessary and appropriate defenses to all claims. 

  

	 	6.8	 At the request of the WFOE at any time, the Company shall immediately and unconditionally transfer its
Assets and Businesses to the WFOE and/or the Designee(s) pursuant to the Option hereunder. 

  

	7.	 Confidentiality 

 

	 	7.1	 Irrespective of whether this Agreement has been terminated, each of the Parties shall maintain in strict
confidence the following information: 

  

	 	(1)	 The execution and performance of this Agreement and the content of this Agreement; 

 

	 	(2)	 The trade secrets, proprietary information and customer information about the WFOE coming into its knowledge
during the entry into and performance of this Agreement; and 

  

	 	(3)	 The Company’s trade secrets, proprietary information, and customer information (hereinafter collectively
referred to as the “Confidential Information”) that it learns or receives as a shareholder of the Company. 

Each Party may use such Confidential Information only for the purpose of fulfilling its obligations hereunder. Without the written permission
of the other Party, no Party may disclose the above-mentioned Confidential Information to any third party, or it shall bear the liability for breach of contract and compensate for the losses of the other Party. 

	 	7.2	 After the termination of this Agreement, each Party shall return, destroy or otherwise deal with all
documents, materials or software containing Confidential Information, and stop using such Confidential Information, at the request of the other Party. 

  

	 	7.3	 Notwithstanding any other provisions hereof, the validity of this section shall not be affected by any
dissolution or termination of this Agreement. 

  

	8.	 Term 

This Agreement will take effect upon official signature by the Parties, and shall remain effective until all Equity and/or Assets and
Businesses have been transferred to the WFOE and/or the Designee(s) in accordance with the provisions of this Agreement. 
  

	9.	 Notice 

All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by
registered mail, prepaid postage, a commercial courier service or facsimile transmission to the address of such Party set forth below. The dates on which notices shall be deemed to have been effectively given shall be determined as follows: 

Notices given by personal delivery, courier service, registered mail or prepaid postage shall be deemed effectively given on the date of
delivery. 
 Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced
by an automatically generated confirmation of transmission). 
 For the purpose of notices, the addresses of the Parties are as follows:

 Beijing ForU Duoduo Information Technology Co., Ltd. 

Address: Room 306, 3rd floor, Zone B, Building 1, Guorui Building, No. 359 Jiangdong Middle Road, Jianye District, Nanjing 

Recipient: Shan Dandan 
 Email:
****************** 

 Shan Dandan 

Address: Room 306, 3rd floor, Zone B, Building 1, Guorui Building, No. 359 Jiangdong Middle Road, Jianye District, Nanjing 

Email: ****************** 
 Wang
Hongxin 
 Address: Room 306, 3rd floor, Zone B, Guorui Building, No. 359 Jiangdong Middle Road, Jianye District, Nanjing 

Email: ****************** 

Suzhou Zhongding No. 4 Venture Capital Center (Limited Partnership) 

Address: Block C, 7th floor, East Hope Building, No. 1777 Century Avenue, Shanghai 

Recipient: Huang Xun 
 Tel:
****************** 
 Email: ****************** 

Nanjing ForU Online Electronic Commerce Co., Ltd. 

Address: Room 306, 3rd floor, Zone B, Building 1, Guorui Building, No. 359 Jiangdong Middle Road, Jianye District, Nanjing 

Recipient: Shan Dandan 
 Email:
****************** 
 Any Party may at any time change its address for notices by a notice delivered to the other Parties in accordance with
the terms hereof. 
  

	10.	 Default Liabilities 

 

	 	10.1	 The Parties agree and acknowledge that, if any Party (hereinafter the “Defaulting
Party”) conducts any material breach of any term of this Agreement, or materially fails to perform any of its obligations hereunder, such breach or failure shall constitute a default under this Agreement (hereinafter a
“Default”), then any non-defaulting Party shall be entitled to demand the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party
fails to rectify such Default or take remedial measures within such reasonable period or within 15 days following the written notice issued by the non-defaulting Party and the rectification requirement, the non-defaulting Party shall be entitled to decide to, at its discretion: 

	 	(1)	 Require the Defaulting Party to indemnify all the damages; or 

 

	 	(2)	 Require the specific performance of the obligations of the Defaulting Party under this Agreement, and require
the Defaulting Party to indemnify all damages. 

  

	 	10.2	 The Parties agree and confirm that, unless otherwise provided by law or this Agreement, under no
circumstance may the Existing Shareholders and the Company require the termination or dissolution of this Agreement for any reason. 

  

	 	10.3	 Notwithstanding any other provisions hereof, the validity of this section shall not be affected by any
dissolution or termination of this Agreement. 

  

	11.	 Miscellaneous 

 

	 	11.1	 This Agreement is written in Chinese in duplicate, and an electronic executed copy of this Agreement
shall have the same legal effect as the original executed copy. 

  

	 	11.2	 The execution, effectiveness, performance, amendment, construction and termination of this Agreement
shall be governed by the laws of the PRC. 

  

	 	11.3	 Any dispute arising out of or in connection with this Agreement shall be settled by the Parties through
consultations and shall, in the absence of an agreement being reached by the Parties within 30 days of its occurrence, be brought before the China International Economic and Trade Arbitration Commission for arbitration in Beijing according to its
current arbitration rules, and the arbitration award shall be final and binding on the Parties. 

	 	11.4	 No right, power or remedy empowered to any Party by any provision of this Agreement shall preclude any
other right, power or remedy enjoyed by such Party in accordance with law or any other provisions hereof and no exercise by a Party of any of its rights, powers and remedies shall preclude its exercise of its other rights, powers and remedies.

  

	 	11.5	 No failure or delay by a Party in exercising any right, power or remedy under this Agreement or laws
(“Party’s Rights”) shall result in a waiver of such rights; and no single or partial waiver by a Party of the Party’s Rights shall preclude such Party from exercising such rights in any other way or exercising the
remaining part of the Party’s Rights. 

  

	 	11.6	 The section headings herein are inserted for convenience of reference only and shall in no event be used
in or affect the interpretation of the provisions hereof. 

  

	 	11.7	 Each provision contained herein shall be severable and independent of any other provisions hereof, and
if at any time any one or more provisions hereof become invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not be affected thereby. 

 

	 	11.8	 Once executed, this Agreement shall replace any prior legal instrument between the Parties relating to
the subject matter hereof. Any amendment or supplement to this Agreement shall be made in writing and shall take effect only when properly signed by the Parties hereto. 

 

	 	11.9	 Neither Party may assign any of its rights or obligations hereunder to any third party without the
written consent of the other Party. 

  

	 	11.10	 This Agreement shall be binding on the legal successors of the Parties. 

 

	 	11.11	 Each Party shall pay any and all taxes and dues incurred thereby or levied thereon in accordance with
PRC laws in connection with the preparation and execution of this Agreement and each Asset/Equity/Business transfer agreement as well as the consummation of the transactions contemplated hereunder and thereunder. 

[No text below] 

 (No text on this page, this being a signature page to the Exclusive Option Agreement) 

IN WITNESS WHEREOF, the Parties have caused this Exclusive Option Agreement to be executed at the place and as of the date first above written. 

Beijing ForU Duoduo Information Technology Co., Ltd. 

(seal) 
 Authorized signatory:   /s/ Shan
Dandan                  

 (No text on this page, this being a signature page to the Exclusive Option Agreement) 

IN WITNESS WHEREOF, the Parties have caused this Exclusive Option Agreement to be executed at the place and as of the date first above written. 

Shan Dandan 
 By:   /s/ Shan Dandan
                 

 (No text on this page, this being a signature page to the Exclusive Option Agreement) 

IN WITNESS WHEREOF, the Parties have caused this Exclusive Option Agreement to be executed at the place and as of the date first above written. 

Wang Hongxin 
 By:   /s/ Wang Hongxin
                 

 (No text on this page, this being a signature page to the Exclusive Option Agreement) 

IN WITNESS WHEREOF, the Parties have caused this Exclusive Option Agreement to be executed at the place and as of the date first above written. 

Suzhou Zhongding No. 4 Venture Capital Center (Limited Partnership) 

(seal) 
 Authorized signatory:   /s/ Zhu
Yingchun                  

 (No text on this page, this being a signature page to the Exclusive Option Agreement) 

IN WITNESS WHEREOF, the Parties have caused this Exclusive Option Agreement to be executed at the place and as of the date first above written. 

Nanjing ForU Online Electronic Commerce Co., Ltd. 
 (seal)

 Authorized signatory:   /s/ Shan Dandan
                 

 Annex I: 

Company Profile 
 Company Name: Nanjing
ForU Online Electronic Commerce Co., Ltd. 
 Registered address: 2nd floor, Zone B, Building 1, Guorui building, No. 359 Jiangdong Middle Road, Jianye
District, Nanjing 
 Registered capital: 75 million (RMB) 

Legal representative: Shan Dandan 
 Ownership structure: 

 

											
	 No.
	  	 Name of shareholder
	  	Capital contribution
(RMB 10,000)	 	  	Ratio of
contributions	 
	1	  	Shan Dandan	  	 	6344.76	 	  	 	84.60	% 
	2	  	Wang Hongxin	  	 	30.24	 	  	 	0.40	% 
	3	  	Suzhou Zhongding No. 4 Venture Capital Center (Limited Partnership )	  	 	1,125.00	 	  	 	15.00	% 
		  		  	  
	  
	 	  	  
	  
	 
	 Total
	  	 	7,500.00	 	  	 	100.00	% 
		  		  	  
	  
	 	  	  
	  
	 

 Annex II: 

Format of Exercise Notice 

(I) 
 To: [Name of Existing
Shareholder] 
 Whereas, we entered into an Exclusive Option Agreement (“Exclusive Option Agreement”) with you and Nanjing ForU Online
Electronic Commerce Co., Ltd. (hereinafter referred to as the “Company”) on ______, according to which, to the extent permitted by PRC laws and regulations, you shall transfer your Equity in the Company to us and/or any third party
designated by us as required. 
 Therefore, we hereby send you this Notice as follows: 

We hereby request the exercise of the option under the Exclusive Option Agreement. That is to say, we/ ________ designated by us will be
transferred____% of the Company’s Equity held by you (hereinafter referred to as the “Equity Transferred”). Please transfer all the Equity Transferred to us /______ in accordance with the terms of the Exclusive Option Agreement
immediately after receiving this Notice. 
 Sincerely yours, 
  

	
	Beijing ForU Duoduo Information Technology Co., Ltd.
	
	(seal)
	
	Authorized signatory:____________

					
		 		 	  

                Date:

 Format of Exercise Notice 

(II) 
 To: Nanjing ForU Online
Electronic Commerce Co., Ltd. 
 Whereas, we entered into an Exclusive Option Agreement (“Exclusive Option Agreement”) with you, Shan
Dandan and other shareholders on ______, according to which, to the extent permitted by PRC laws and regulations, you shall transfer your Assets and Businesses to us and/or any third party designated by us as required. 

Therefore, we hereby send you this Notice as follows: 

We hereby request the exercise of the option under the Exclusive Option Agreement. That is to say, we/ ________ designated by us will be
transferred the following Assets and Businesses: ______________ (hereinafter referred to as the “Assets and Businesses Transferred”). Please transfer all the Assets and Businesses Transferred to us /______ in accordance with the
terms of the Exclusive Option Agreement immediately after receiving this Notice. 
 Sincerely yours, 

 

	
	Beijing ForU Duoduo Information Technology Co., Ltd.
	
	(seal)
	
	Authorized signatory:____________

  

					
		 		 	                Date:

 Annex III: 

Power of Attorney 

(I) 
 I/the
partnership/the Company, [name of Existing Shareholder], hereby irrevocably entrust [                ] (ID number:
[                ]) to execute, as my proxy and on my behalf, the agreement between me and Beijing ForU Duoduo Information Technology Co., Ltd. concerning the transfer
of Equity in Nanjing ForU Online Electronic Commerce Co., Ltd. and other relevant legal documents, and to handle all related procedures such as industrial and commercial registration. I confirm that, once executed, such equity transfer agreement and
other relevant legal documents shall be legally binding upon me. 
  

	
	[Name of Existing Shareholder] (signature/seal)
	
	Authorized signatory:____________

					
			
		 		 	                Date:

 Power of Attorney 

(II) 
 By virtue of
the attached resolutions of the shareholders’ meeting and the board of directors, the company, Nanjing ForU Online Electronic Commerce Co., Ltd., hereby irrevocably entrust
[                ] (ID number: [                ]) to execute, as its proxy and on its
behalf, the agreements between the company and Beijing ForU Duoduo Information Technology Co., Ltd. concerning the transfer of our Assets and Businesses and other relevant legal documents, and to handle all related procedures such as industrial and
commercial registration. According to the attached resolutions of the shareholders’ meeting and the board of directors, the company confirms that, once executed, such Asset and Business transfer agreements and other relevant legal documents
shall be legally binding upon it. 
  

	
	Nanjing ForU Online Electronic Commerce Co., Ltd.
	
	(seal)

  

					
			
		 		 	                Date:EX-10.6

 Exhibit 10.6 

Exclusive Consulting and Service Agreement 

This Exclusive Consulting and Service Agreement (“Agreement”) is made and entered into by the following parties on April 1, 2021: 

Beijing ForU Duoduo Information Technology Co., Ltd. (“Party A”) 

Registered address: 428B, 4th floor, No.31 Fuchengmenwai Street, Xicheng District, Beijing. 

Nanjing ForU Online Electronic Commerce Co., Ltd. (“Party B”) 

Registered address: 2nd floor, Zone B, Building 1, Guorui building, No. 359 Jiangdong Middle Road, Jianye District, Nanjing. 

Whereas, 
  

	1.	 Party A is a wholly foreign-owned enterprise established in Tianjin of the People’s Republic of China
(hereinafter referred to as “PRC”, for the purpose of this Agreement, excluding Hong Kong, Macau and Taiwan), which owns computer technology and necessary resource for computer software development, production, and sales of
self-produced products, and has experience in providing professional technical and consulting services; 

  

	2.	 Party B is a domestic limited liability company registered in Nanjing, Jiangsu Province, China;

  

	3.	 Party A shall be the provider of technical and consulting services to Party B, and Party B hereby agrees to
accept such technical and consulting services; 

 Therefore, after friendly consultations between both Parties on the
principle of equality and mutual benefit, the Parties hereby agree as follows: 
  

	1.	 Technical and consulting services; and exclusive and sole rights and interests 

 

	 	1.1	 During the term of this Agreement, Party A agrees to provide Party B with relevant consulting and services as
an exclusive consulting and service provider under the terms of this Agreement (Details see Annex 1). 

  
 1 

	 	1.2	 Party B agrees to accept the consulting and services provided by Party A, and shall provide appropriate
cooperation for Party A to complete the aforementioned work, including but not limited to providing relevant data, the required technical requirements, instructions, etc. Party B further agrees that, during the term of this Agreement, unless with
Party A’s prior written consent, during the term of this Agreement, Party B will not accept the technical or consulting services provided by any third party on the above-mentioned matters hereunder, nor shall it be licensed or assigned from any
third party services identical or similar to such technical and consulting services, unless with the prior written permission of Party A. 

  

	 	1.3	 Party A shall be the sole and exclusive owner of all rights, title and interests and intellectual property
rights arising from the performance of this Agreement, including, but not limited to, any copyright, patent, know-how, trade secret and otherwise, whether developed by Party A, or by Party B based on Party
A’s intellectual property or by Party A based on Party B’s intellectual property, for which Party B may not claim against Party A. It is acknowledged that, this section shall survive the alteration, dissolution or termination of the
Agreement. 

  

	 	1.4	 Party B promises that, if it intends to conduct any business cooperation with any other company, the prior
written consent of Party A shall be obtained, and under the same conditions, Party A or its affiliates have the priority to cooperate. Party A has the right to independently decide/appoint any third party (including but not limited to Party A’s
affiliate) to provide Party B with the technical or consulting services hereunder. For the avoidance of doubt, both parties hereby confirm that Party A may provide similar services to any third party within or outside China to the extent permitted
by relevant laws, regarding which Party B shall not raise any objection. 

  

	2.	 Obligations of the Parties 

 

	 	2.1	 Obligations of Party A 

Party A agrees that, within the term of this Agreement, Party A or any other party designated by it will promptly provide Party B with
technical and consulting services in accordance with the terms of this Agreement. 
  

	 	2.2	 Obligations of Party B 

 

	 	2.2.1	 Party B agrees to determine and timely pay Party A the fees for the technical and consulting services
(hereinafter referred to as “Service Fees”) hereunder based on the methods set forth in Annex 2. 

  
 2 

	 	2.2.2	 Party B shall appropriately and reasonably accept and use the technical and consulting services provided by
Party A. 

  

	 	2.2.3	 Upon the occurrence of any event that affects Party B’s normal operations, Party B shall notify Party A in
a timely manner. 

  

	 	2.2.4	 Party B hereby grants Party A or any person authorized by Party A access to its premise or other facilities
within a reasonable time. 

  

	 	2.2.5	 Party B shall not take, and shall procure that no other third party take, any action that may adversely affect
the ownership or intellectual property rights of the services provided by Party A hereunder. 

  

	 	2.2.6	 Party B shall be responsible for obtaining all relevant approvals and permits (if required) from the relevant
government for Party A’s performance of its obligations hereunder. 

  

	 	2.2.7	 Party B shall prepare financial statements acceptable to Party A in accordance with the requirements of laws
and commercial practices. 

  

	 	2.2.8	 Party B shall provide Party A with its quarterly financial statements (audited and certified by an independent
certified public accountant approved by Party A), documents, accounts, records, data, etc. within 5 business days after the end of each quarter, so that Party A may audit Party B’s accounts and determine the amount of Service Fees.

  

	 	2.2.9	 Upon notification by Party A five (5) working days in advance, Party B shall allow Party A and/or its
designated auditor to audit Party B’s relevant accounts and records and copy the required part thereof at Party B’s principal place of business, so as to verify the accuracy of Party B’s income and statements. 

 

	 	2.2.10	 In addition to Service Fees, Party B shall bear and indemnify Party A for all reasonable expenses, advance
payments and out-of-pocket expenses in any form paid or incurred by Party A when performing or providing services. 

  
 3 

	3.	 Representations and Warranties 

 

	 	3.1	 Party A hereby represents and warrants as follows: 

 

	 	3.1.1	 Party A is a company duly registered and validly existing under the laws of the PRC; 

 

	 	3.1.2	 Party A’s execution and performance of this Agreement is within the scope of its corporate power and
business operations; Party A has taken necessary corporate actions and given appropriate authorization and has obtained the consent and approval from third parties and government agencies, and will not violate the restrictions of laws binding or
having an impact on it; 

  

	 	3.1.3	 The Agreement shall constitute Party A’s legitimate and valid obligations once it is executed, and shall
be enforceable against it. 

  

	 	3.2	 Party B hereby represents and warrants as follows: 

 

	 	3.2.1	 Party B is a company duly registered and validly existing under the laws of the PRC. 

 

	 	3.2.2	 Party B’s execution and performance of this Agreement is within the scope of its corporate power and
business operations; Party B has taken necessary corporate actions and given appropriate authorization and has obtained the consent and approval from third parties and government agencies, and will not violate the restrictions of laws binding or
having an impact on it. 

  

	 	3.2.3	 The Agreement shall constitute Party B’s legitimate and valid obligations once it is executed, and shall
be enforceable against it. 

  

	 	3.2.4	 The provision of services by Party A and Party B’s acceptance of such services require no consent or
approval from or registration with any government department or agency. 

  
 4 

	4.	 Confidentiality Clause and Others 

 

	 	4.1	 Party B agrees to maintain the confidentiality of any oral or written materials and information (hereinafter
referred to as “Confidential Information”) of Party A that Party B learns or has access to due to its acceptance of Party A’s exclusive technical and consulting services, and shall take various security measures designed to
maintain such confidentiality; without the prior written consent of Party A, Party B shall not disclose, give or transfer such Confidential Information to any third party. Upon the termination of this Agreement, Party B shall return to Party A any
document, material or software that contains such Confidential Information at Party A’s request, or shall destroy the same on his own and shall delete any Confidential Information from the relevant memory devices and may no longer use such
Confidential Information. Party B shall take necessary measures to disclose the Confidential Information only to its employees, agents or professional consultants on a
need-to-know basis and procure such employees, agents or professional consultants to abide by confidentiality obligations no less strictive than those set forth herein.
The failure of such persons or institutions engaged by Party to abide by any confidentiality obligations hereunder shall be deemed as Party B’s breach of such confidentiality obligations. 

 

	 	4.2	 The restrictions above are not applicable to: 

 

	 	4.2.1	 any information that has become generally available to the public at the time of disclosure;

  

	 	4.2.2	 any information that comes into public domain through no fault of Party B after the disclosure;

  

	 	4.2.3	 any information that can be proved by Party B to have been acquired before the disclosure, and which has not
been acquired directly or indirectly from Party A, Party A’s affiliates, shareholders or ultimate shareholders; 

  

	 	4.2.4	 any information that Party B is obliged to disclose to relevant government departments, stock exchange
institutions, etc., in accordance with legal requirements, or that is disclosed by Party B to its direct legal advisors and financial advisors due to normal business needs, provided that Party B shall procure such legal Consultants and financial
advisers to abide by the confidentiality obligations hereunder. 

  

	 	4.3	 Party B may not directly or indirectly carry out business beyond the scope permitted by its business license
and relevant business permits, nor may it carry out any business beyond the scope permitted by Party A in writing. 

  
 5 

	 	4.3	 It is acknowledged that, this section shall survive the alteration, dissolution or termination of the
Agreement. 

  

	5.	 Default 

  

	 	5.1	 If either Party is in breach of any provisions herein or fails to perform its obligations hereunder, such
breach or failure shall constitute a default under this Agreement. In such event, Party A may issue a written notice to Party B, requesting Party B to promptly rectify the default, take timely and effective measures to eliminate the consequences of
such default and compensate Party A for the losses suffered therefrom in accordance with applicable laws and the provisions of this Agreement. 

  

	 	5.2	 Upon occurrence of any default by Party B, if Party A, based on reasonable and objective judgment, believes
that such default has caused it impossible or unfair for Party A to perform its corresponding obligations hereunder, then Party A may notify the Party B in writing that it will suspend its performance of obligations hereunder, until Party B has
stopped its default, taken effective measures to eliminate the effect thus caused, and indemnified Party A any losses suffered therefrom in accordance with applicable laws and the provisions hereof. 

 

	 	5.3	 No waiver of rights in respect of any default hereunder shall be valid unless it is made in writing. No failure
to exercise or delay in exercising any right or remedy by any party under this Agreement shall operate as a waiver thereof, nor shall any partial exercise of any right or remedy preclude the exercise of any other right or remedy.

  

	 	5.4	 Party B shall fully indemnify and hold harmless Party A from and against any loss, damage, obligation and
expense arising out of any litigation, claim or other demand against Party A resulting from the content of the technical and consulting services requested by Party B. 

 

	 	5.5	 Party A’s losses to be indemnified by Party B as mentioned in this section shall include all direct
economic losses, any foreseeable and reasonable indirect economic losses and related expenses arising therefrom, including but not limited to attorney’s fees, legal costs, arbitration fees and travel expenses. 

  
 6 

	 	5.6	 Party B recognizes and agrees that, any violation of its obligations hereunder may cause irreparable damage to
Party A for which indemnification made by Party B according to law and/or this Agreement may not be sufficient. Therefore, upon the occurrence of any such violation or potential violation, in addition to the remedies provided in this Agreement and
applicable laws, Party A has the right to require Party B to continue to perform its obligations hereunder. 

  

	 	5.7	 If Party B fails to pay the Service Fees to Party A on schedule as stipulated in this Agreement, Party A shall
have the right to collect from Party B liquidated damages equivalent to 0.1% of the outstanding Service Fees per day. The above-mentioned liquidated damages shall be calculated from the due date to the actual payment date. 

 

	 	5.8	 If Party B materially violates or fails to perform any of its covenants, obligations or undertakings made
hereunder, or the representations and warranties made are seriously inaccurate, Party A has the right to terminate this Agreement and/or require Party B to compensate for its losses; this Section 5.7 shall not preclude any other right available
to Party A under this Agreement and in accordance with applicable laws. 

  

	 	5.9	 The validity of this section shall not be affected by the termination or dissolution of this Agreement.

  

	6.	 Effectiveness and Term 

 

	 	6.1	 This Agreement shall become effective as of the date when it is signed by both parties, and unless terminated
early in accordance with the terms of this Agreement or the relevant agreement entered into by and between the parties, this Agreement shall remain valid for a period of ten years. 

 

	 	6.2	 This Agreement will be automatically extended for additional successive terms of 10 years, unless Party A gives
Party B its written objection to the extension three months prior to the expiration of this Agreement. 

  

	7.	 Amendment and Termination 

 

	 	7.1	 Any amendment of this Agreement shall come into force only after a written agreement is signed by both Parties.
Otherwise, no amendment in respect of this Agreement shall bind the parties hereto. Unless it is renewed in accordance with the relevant terms, this Agreement will terminate on the expiry date. 

  
 7 

	 	7.2	 During the term of this Agreement, under no circumstance may Party B terminate this Agreement in advance. This
Agreement shall be terminated under any of the following circumstances: (i) all equity of Party B has been transferred to Party A in accordance with the Exclusive Option Agreement entered into by and among Party A, Party B and the
existing shareholders of Party B; (ii) Party A terminates this Agreement at any time by sending a written notice to Party B 30 days in advance. If Party A dissolves this Agreement in advance for reasons of Party B, Party B shall compensate
Party A for all its losses caused thereby, and shall pay relevant Service Fees for the services completed. 

  

	 	7.3	 After the termination of this Agreement, the rights and obligations of both parties under Sections 1.3, 4, 5
and 8 of this Agreement will continue to be valid. 

  

	 	7.4	 No amendment or dissolution of this Agreement shall affect the rights of the parties to claim for damages.
Except when it may be exempted from liability according to law, the party that is held responsible shall compensate the other party for all losses and damages thus caused by such amendment or termination. 

 

	 	7.5	 The early termination of this Agreement for any reason shall not exempt any party from all payment obligations
(including but not limited to Service Fees) hereunder that become due before the termination date of this Agreement, nor from any default liability that occurs before the termination of this Agreement. The Service Fees payable incurred before the
termination of this Agreement shall be paid to Party A within fifteen (15) working days from the termination date of this Agreement. 

  

	8.	 Settlement of Disputes 

 

	 	8.1	 Any dispute between the parties arising from the interpretation or performance of the terms hereof shall be
solved through friendly negotiations. If both parties fail to resolve the dispute within sixty (60) days after either party receives a notification from the other party requesting the initiation of negotiations, or within a longer period agreed
upon by both parties at that time, either party may submit the dispute to the China International Economic and Trade Arbitration Commission Arbitration for arbitration in accordance with its then effective arbitration rules. The place of arbitration
shall be Beijing and the arbitration shall be conducted in Chinese. The award rendered therein shall be final and binding upon both parties. The validity of this section shall not be affected by the termination or dissolution of this Agreement.

  
 8 

	 	8.2	 Except for the matters under dispute, the parties to this Agreement shall continue to perform their respective
obligations hereunder in accordance with the terms of this Agreement in good faith. 

  

	9.	 Further Assurance 

The parties agree to promptly execute documents that are reasonably required for or are conducive to the implementation of the provisions and
purposes of this Agreement and to take further actions that are reasonably required for or are conducive to the implementation of the provisions and purposes of this Agreement, including but not limited to contacting with relevant government
agencies. 
  

	10.	 Force Majeure 

 

	 	10.1	 “Force Majeure” shall refer to any event beyond the reasonable control of either party and
cannot be avoided by the party affected thereby with reasonable care, including but not limited government action, act of God, fire, explosion, storm, flood, earthquake, tide, lightning or war. However, any shortage of credit, capital or finance
shall not be deemed as an event beyond the reasonable control of one party. The party seeking to be exempted from performance hereunder due to Force Majeure shall promptly send a notice to the other party, informing of the exemption and the steps to
be taken to accomplish the performance. 

  

	 	10.2	 When the performance of this Agreement is delayed or impeded by the aforementioned Force Majeure, the party
affected by such Force Majeure shall not be liable in any way under this Agreement to the extent of such delay or impedance. The party affected shall take appropriate measures to mitigate or eliminate the impact of such Force Majeure and shall
attempt to resume the performance of obligations delayed or impeded by such Force Majeure. As soon as the force majeure event is eliminated, the parties agree to use their best efforts to resume the performance of this Agreement.

  
 9 

	11.	 Notice 

  

	 	11.1	 Notices given by either party for the exercise and performance of its rights and obligations hereunder shall be
in writing, and shall be sent to the following address by personal delivery, registered mail, mail with prepaid postage or recognized express mail or facsimile. 

For the purpose of notices, the addresses of the Parties are as follows: 

Beijing ForU Duoduo Information Technology Co., Ltd. 
  

	 	Address:	 Room 306, 3rd floor, Zone B, Building 1, Guorui Building, No. 359 Jiangdong Middle Road, Jianye District,
Nanjing 

  

	 	Recipient:	 Shan Dandan 

Nanjing ForU Online Electronic Commerce Co., Ltd. 
  

	 	Address:	 Room 306, 3rd floor, Zone B, Building 1, Guorui Building, No. 359 Jiangdong Middle Road, Jianye District,
Nanjing 

  

	 	Recipient:	 Shan Dandan 

Any party may at any time change its address for notices by a notice delivered to the other Party in accordance with the terms hereof. 

 

	 	11.2	 Notices and letters shall be deemed to have been served: 

 

	 	11.2.1	 on the date recorded if delivered by fax, or if the fax is delivered after 5 pm or on a non-working day in the place of delivery, on the working day following the date recorded; 

11.2.2 on the date of receipt if delivered by personal delivery (including express mail); 

11.2.3 on the 15th day after the date recorded on the receipt, if delivered by registered
mail. 
  

	12.	 Assignment 

Party B may not assign its rights and obligations hereunder to any third party, unless Party A’s prior written consent is obtained. Party
A may assign its rights and obligations hereunder to any third party without Party B’s consent, provided that Party B shall be notified of such assignment. 

  
 10 

	13.	 Severability 

In the event that any provision of this Agreement is invalid or unenforceable due to inconsistency with law, such provision shall only be
invalid or unenforceable to the extent of the jurisdiction of such law, and shall not affect the legal validity of the remaining provisions of this Agreement. 
  

	14.	 Amendments and Supplements 

Any amendments and supplements to this Agreement shall be in writing. The amendments and supplementary agreements duly executed by the parties
in respect of this Agreement shall be an integral part of this Agreement and shall have the same legal effect as this Agreement 
  

	15.	 Waiver 

Unless otherwise provided in this Agreement, no failure to exercise or delay in exercising any right, power or remedy by any party under this
Agreement shall operate as a waiver thereof. No single or partial exercise of any right, power or remedy provided under this Agreement shall preclude the exercise of any other right, power or remedy. 

 

	16.	 Governing Law 

The execution, effectiveness, performance, interpretation and dispute resolution of this Agreement shall be governed by and construed in
accordance with the laws of the People’s Republic of China. 
  

	17.	 Miscellaneous 

 

	17.1	 This Agreement is made in duplicate, both having the same legal effect. 

IN WITNESS WHEREOF, the parties have caused this Agreement to be signed by their duly authorized representatives on the date first written above. 

(No text below, it being the signature page to the Agreement) 

  
 11 

 (No text on this page, this being a signature page to the Exclusive Consulting and Service Agreement) 

Party A: Beijing ForU Duoduo Information Technology Co., Ltd. (seal) 
  

			
	Authorized signatory:	 	 /s/ Shan Dandan 

 Party B: Nanjing ForU Online Electronic Commerce Co., Ltd. (seal) 

 

			
	Authorized signatory:	 	 /s/ Shan Dandan 

 Annex 1 

Contents of technical and consulting service content list 
  

			
	 Service category
	  	 Service content

		
	Computer technology	  	Technical development, technical consultation, technical services and technical transfer in terms of computer technology
		
	Computer software	  	Computer software development, production, and sales of self-produced products
		
	Economic information consulting	  	Provision of consulting services about economic information
		
	Enterprise management consulting	  	Corporate daily management consulting and related tax law consulting, formulating financial management and review systems, investment and financing consulting, labor and personnel consulting, etc.
		
	Graphic design	  	Graphic design and production (except advertisements)

 Annex 2 

Calculation and Payment Method of Service Fees 

During the term of this Agreement, the Service Fees payable by Party B to Party A for the services provided by Party A as described in Annex 1 shall be
denominated in RMB and calculated according to the following formula: 
 Service fees = Party B’s income - turnover taxes - Party B’s total costs
- legally required statutory accumulation fund of Party B -Party B’s retained profits 
 In which: 

 

	 	•	 	 Party B’S income refers to the income that Party B receives from a third party in the normal
course of business; 

  

	 	•	 	 Turnover taxes include but are not limited to business tax, value-added tax, urban maintenance and construction
tax and education surcharge; 

  

	 	•	 	 Party B’s total costs include all costs and expenses, such as the cost of selling goods and the operating
costs incurred by Party B in conducting business; and 

  

	 	•	 	 Party B’S retained profits shall be zero, unless Party A otherwise agrees in writing the
amount of retained profits. 

 During the term of this Agreement, Party A has the right to adjust the above Service Fees at its own
discretion without the consent of Party B. 
 Party B shall provide Party A with its management statements and operating data of the previous quarter
(specifying Party B’s income in the previous quarter), as well as written breakdown of Service Fees for the technical and consulting services provided in the previous quarter, within the first 5 business days of each quarter. Party A shall
confirm to Party B in writing whether the breakdown is correct or not within 10 business days after the receipt thereof. If it fails to confirm on schedule, Party B shall be deemed to have confirmed the correctness of the breakdown provided by Party
A. Party B shall pay the Service Fees to the account designated by Party A within 10 business days after receiving a written confirmation from Party A. Both parties agree that, Party A may change such payment instructions by giving notice to Party B
from time to time.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]