<SEC-DOCUMENT>0001213900-25-088774.txt : 20250918
<SEC-HEADER>0001213900-25-088774.hdr.sgml : 20250918
<ACCEPTANCE-DATETIME>20250918080017
ACCESSION NUMBER:		0001213900-25-088774
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250918
FILED AS OF DATE:		20250918
DATE AS OF CHANGE:		20250918

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Maase Inc.
		CENTRAL INDEX KEY:			0001750264
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38813
		FILM NUMBER:		251321794

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		12F, BLOCK B, LONGHU XICHENG TIANJIE
		STREET 2:		NO. 399 HUAZHAOBI XISHUN STREET, JINNIU
		CITY:			CHENGDU SICHUAN PROVINCE, PRC
		PROVINCE COUNTRY:   	F4
		BUSINESS PHONE:		86-020-28381666

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		12F, BLOCK B, LONGHU XICHENG TIANJIE
		STREET 2:		NO. 399 HUAZHAOBI XISHUN STREET, JINNIU
		CITY:			CHENGDU SICHUAN PROVINCE, PRC
		PROVINCE COUNTRY:   	F4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Highest Performances Holdings Inc.
		DATE OF NAME CHANGE:	20240313

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUYI, INC.
		DATE OF NAME CHANGE:	20180815
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea0257527-6k_maase.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER<BR>
PURSUANT TO RULE 13a-16 OR&nbsp;15d-16 OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of September 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number&nbsp;001-38813</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Maase Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>12F, Block B, Longhu Xicheng Tianjie<BR>
No. 399 Huazhaobi Xishun Street, Jinniu District, Chengdu<BR>
Sichuan Province, People&rsquo;s Republic of China<BR>
Tel: +86-028-86762596</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form&nbsp;20-F &#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Form&nbsp;40-F &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>INFORMATION CONTAINED IN THIS FORM 6-K REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Share transfer of Puyi Holdings (Hong Kong)
Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 12, 2025, Puyi Group Limited (&ldquo;Puyi
Group&rdquo; or the &ldquo;Seller&rdquo;), a subsidiary of Maase Inc. (&ldquo;the Company&rdquo;), a business company incorporated under
the laws of the British Virgin Islands, has entered into a Shares Sales and Purchases Agreement (the &ldquo;Agreement&rdquo;) with Echoes
Group Ltd (&ldquo;Echoes Group&rdquo; or the &ldquo;Buyer&rdquo;), a third-party business company incorporated under the laws of the British
Virgin Islands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the terms of the Agreement, Puyi Group
shall transfer 100% of the equity interests in its wholly-owned subsidiary, Puyi Holdings (Hong Kong) Limited (&ldquo;Puyi HK&rdquo;), a
business company incorporated under the laws of Hong Kong, as well as all equity interests in subsidiaries directly or contractually controlled
by Puyi HK. This transaction is a cash transaction with a total consideration of RMB70,000,000 and does not constitute a related party
transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This transaction has been approved by the Company&rsquo;s
board of directors and is expected to be completed by the end of September 2025. Upon completion of the transaction, the Company will
cease all fund product distribution operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing description of the Agreement does
not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as
Exhibit 10.1 to this Current Report on Form 6-K and is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit <BR>
Number</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 91%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
Description</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea025752701ex10-1_maase.htm">Shares Sales and Purchases Agreement dated September 12, 2025, by and between Echoes Group Ltd and Puyi Group Limited</A></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange&nbsp;Act&nbsp;of&nbsp;1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maase Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: September 18, 2025</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Zhou Min</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 62%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zhou Min</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice-Chairperson of the Board, <BR>
Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea025752701ex10-1_maase.htm
<DESCRIPTION>SHARES SALES AND PURCHASES AGREEMENT DATED SEPTEMBER 12, 2025, BY AND BETWEEN ECHOES GROUP LTD AND PUYI GROUP LIMITED
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 4.5in"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 4.5in">EXECUTION COPY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Shares Sales and Purchases Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">BY AND AMONG</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ECHOES GROUP LTD,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AND</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">PUYI GROUP LIMITED.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">DATED AS OF SEPTEMBER 12, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>TABLE OF CONTENTS</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="padding-bottom: 1.5pt; width: 12%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 80%; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 8%; text-align: center"><FONT STYLE="font-size: 10pt"><I>PAGE</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-transform: uppercase; font-weight: bold">RECITALS</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">2</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-transform: uppercase; font-weight: bold">Article 1 Definitions and Interpretation</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">2</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 1.1.</TD>
    <TD STYLE="font-weight: bold">Definitions.</TD>
    <TD STYLE="text-align: center; font-weight: bold">2</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 1.2.</TD>
    <TD STYLE="font-weight: bold"><I>Interpretation</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">6</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-transform: uppercase; font-weight: bold">Article 2 Share Transfer</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">7</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 2.1.</TD>
    <TD STYLE="font-weight: bold"><I>Share Transfer.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">7</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 2.2.</TD>
    <TD STYLE="font-weight: bold"><I>Deliver of Securities and Payment of Consideration.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">7</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 2.3.</TD>
    <TD STYLE="font-weight: bold"><I>Closing</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">7</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-transform: uppercase; font-weight: bold">Article 3 Representations and Warranties of the Buyer</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 3.1.</TD>
    <TD STYLE="font-weight: bold"><I>Existence and Power</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 3.2.</TD>
    <TD STYLE="font-weight: bold"><I>Authorization; Due Execution</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 3.3.</TD>
    <TD STYLE="font-weight: bold"><I>No Conflicts</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 3.4.</TD>
    <TD STYLE="font-weight: bold"><I>Bankruptcy</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 3.5.</TD>
    <TD STYLE="font-weight: bold"><I>Brokers<FONT STYLE="font-family: Times New Roman, Times, Serif">&rsquo;</FONT> Fees.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 3.6.</TD>
    <TD STYLE="font-weight: bold"><I>Independent Investigation</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-transform: uppercase; font-weight: bold">Article 4 Representations and Warranties of the Seller</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.1.</TD>
    <TD STYLE="font-weight: bold"><I>Existence and Power</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.2.</TD>
    <TD STYLE="font-weight: bold"><I>Authorization; Due Execution</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.3.</TD>
    <TD STYLE="font-weight: bold"><I>No Conflicts</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">11</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.4.</TD>
    <TD STYLE="font-weight: bold"><I>Capitalization.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">11</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.5.</TD>
    <TD STYLE="font-weight: bold"><I>Subsidiaries</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">11</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.6.</TD>
    <TD STYLE="font-weight: bold"><I>Compliance with Laws</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">12</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.7.</TD>
    <TD STYLE="font-weight: bold"><I>Governmental Approvals</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">12</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.8.</TD>
    <TD STYLE="font-weight: bold"><I>Financial Matters.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">12</TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; width: 12%">Section 4.9.</TD>
    <TD STYLE="font-weight: bold; width: 80%"><I>Operations</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold; width: 8%">12</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.10.</TD>
    <TD STYLE="font-weight: bold"><I>Absence of Certain Changes</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.11.</TD>
    <TD STYLE="font-weight: bold"><I>Litigation</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.12.</TD>
    <TD STYLE="font-weight: bold"><I>Bankruptcy</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.13.</TD>
    <TD STYLE="font-weight: bold"><I>Brokers<FONT STYLE="font-family: Times New Roman, Times, Serif">&rsquo;</FONT> Fees.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.14.</TD>
    <TD STYLE="font-weight: bold"><I>No Target Co. Material Adverse Effect</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 4.15.</TD>
    <TD STYLE="font-weight: bold"><I>Independent Investigation</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-transform: uppercase; font-weight: bold">Article 5 Conditions</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 5.1.</TD>
    <TD STYLE="font-weight: bold"><I>Conditions to the Obligation of the Seller and the Buyer to Consummate Closing</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 5.2.</TD>
    <TD STYLE="font-weight: bold"><I>Other Conditions to the Obligation of the Seller to Consummate the Closing</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 5.3.</TD>
    <TD STYLE="font-weight: bold"><I>Other Conditions to the Obligation of the Buyer to Consummate the Closing</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">15</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-transform: uppercase; font-weight: bold">Article 6 Covenants</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 6.1.</TD>
    <TD STYLE="font-weight: bold"><I>Conduct of Business Pending the Closing</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 6.2.</TD>
    <TD STYLE="font-weight: bold"><I>Notification</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 6.3.</TD>
    <TD STYLE="font-weight: bold"><I>Required Consents; Communications with Governmental Authorities.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 6.4.</TD>
    <TD STYLE="font-weight: bold"><I>Confidentiality</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">17</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 6.5.</TD>
    <TD STYLE="font-weight: bold"><I>Further Assurances</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">17</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 6.6.</TD>
    <TD STYLE="font-weight: bold"><I>Public Announcements.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 6.7.</TD>
    <TD STYLE="font-weight: bold"><I>Tax</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-transform: uppercase; font-weight: bold">Article 7 Indemnification</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 7.1.</TD>
    <TD STYLE="font-weight: bold"><I>Survival.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 7.2.</TD>
    <TD STYLE="font-weight: bold"><I>Indemnification by the Buyer</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">19</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 7.3.</TD>
    <TD STYLE="font-weight: bold"><I>Limits on Indemnification by the Buyer</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">19</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 7.4.</TD>
    <TD STYLE="font-weight: bold"><I>Indemnification by the Seller</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">20</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 7.5.</TD>
    <TD STYLE="font-weight: bold"><I>Limits on Indemnification by the Seller</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">20</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 7.6.</TD>
    <TD STYLE="font-weight: bold"><I>Mitigation.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">21</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 7.7.</TD>
    <TD STYLE="font-weight: bold"><I>Sole Remedy; Specific Performance</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">21</TD></TR>
</TABLE>

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    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; width: 12%">Section 7.8.</TD>
    <TD STYLE="font-weight: bold; width: 80%"><I>Third Party Claims.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold; width: 8%">21</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-transform: uppercase; font-weight: bold">Article 8 Termination</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">22</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 8.1.</TD>
    <TD STYLE="font-weight: bold"><I>Termination Rights</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">22</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 8.2.</TD>
    <TD STYLE="font-weight: bold"><I>Effects</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">22</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-transform: uppercase; font-weight: bold">Article 9 Miscellaneous</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">23</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.1.</TD>
    <TD STYLE="font-weight: bold"><I>Entire Agreement</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">23</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.2.</TD>
    <TD STYLE="font-weight: bold"><I>Notices</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">23</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.3.</TD>
    <TD STYLE="font-weight: bold"><I>Amendment; Waiver</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">24</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.4.</TD>
    <TD STYLE="font-weight: bold"><I>Severability</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">24</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.5.</TD>
    <TD STYLE="font-weight: bold"><I>Non-assignment</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">25</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.6.</TD>
    <TD STYLE="font-weight: bold"><I>Governing Law.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">25</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.7.</TD>
    <TD STYLE="font-weight: bold"><I>Dispute Resolution.</I></TD>
    <TD STYLE="text-align: center; font-weight: bold">25</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.8.</TD>
    <TD STYLE="font-weight: bold"><I>Performance Pending Dispute Resolution</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">25</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.9.</TD>
    <TD STYLE="font-weight: bold"><I>Specific Performance</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">26</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.10.</TD>
    <TD STYLE="font-weight: bold"><I>Counterparts</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">26</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.11.</TD>
    <TD STYLE="font-weight: bold"><I>Third-Party Beneficiaries</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">26</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Section 9.12.</TD>
    <TD STYLE="font-weight: bold"><I>Expenses</I>.</TD>
    <TD STYLE="text-align: center; font-weight: bold">26</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-transform: uppercase; font-weight: bold">EXHIBIT A INSTRUMENT OF TRANSFER</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">29</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Shares Sales and Purchases Agreement This <B>Shares
Sales and Purchases Agreement</B> (as may be amended, restated, supplemented or varied in accordance with the terms herein, this &ldquo;<B>Agreement</B>&rdquo;)
is entered into and effective as of SEPTEMBER 12, 2025, by and among:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22pt"></TD><TD></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Echoes Group Ltd, an exempted company with limited liability duly incorporated under the laws of the British Virgin Islands (the &ldquo;<B>Buyer</B>&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58pt; text-indent: -22pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Puyi Group Limited, a business company duly incorporated under the laws of the British Virgin Islands (the &ldquo;<B>Seller</B>&rdquo;)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58pt; text-indent: -22pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">Puyi Holdings (Hong Kong) Limited, a business company duly incorporated under the laws of Hong Kong (&ldquo;<B>Target Co.</B>&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58pt; text-indent: -22pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#26222;&#30410;&#20225;&#19994;&#31649;&#29702;&#21672;&#35810;&#26377;&#38480;&#20844;&#21496;</FONT>Puyi
Enterprises Management Consultant Co., Limited, a company duly incorporated under the laws of China(<FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>Puyi
Enterprises</B>&rdquo;), wholly owned subsidiary of the <B>Target Co.</B>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58pt; text-indent: -22pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(5)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#25104;&#37117;&#30410;&#24935;&#36890;&#20449;&#24687;&#25216;&#26415;&#26377;&#38480;&#20844;&#21496;</FONT>
Chengdu Yihuitong Information Technology Co., Ltd., a company duly incorporated under the laws of China (the &ldquo;<B>Yihuitong</B>&rdquo;),
wholly owned subsidiary of <B>Puyi Enterprises</B>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58pt; text-indent: -22pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(6)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#25104;&#37117;&#26222;&#30410;&#21338;&#27719;&#20449;&#24687;&#25216;&#26415;&#26377;&#38480;&#20844;&#21496;</FONT>Chengdu
Puyi Bohui Information Technology Co., Ltd., a company duly incorporated under the laws of China (the &ldquo;<B>Bohui</B>&rdquo;),through
contractual agreements controlled by <B>Puyi Enterprises</B>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58pt; text-indent: -22pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(7)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#21271;&#20140;&#27867;&#32852;&#25237;&#36164;&#26377;&#38480;&#20844;&#21496;</FONT>
Beijin Fanlian Investment Co., Ltd., a company duly incorporated under the laws of China (the &ldquo;<B>Fanlian</B>&rdquo;), wholly owned
subsidiary of <B>Bohui</B>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58pt; text-indent: -22pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(8)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#27867;&#21326;&#26222;&#30410;&#22522;&#37329;&#38144;&#21806;&#26377;&#38480;&#20844;&#21496;</FONT>
Fanhua Puyi Fund Sales Co., Ltd. a company duly incorporated under the laws of China (the &ldquo;Fund Sales&rdquo;), 84.5911% equity shares
owned <B>Bohui </B>and 15.4089% equity shares owned by <B>Fanlian</B>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58pt; text-indent: -22pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(9)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#24191;&#19996;&#26222;&#30410;&#21672;&#35810;&#31649;&#29702;&#26377;&#38480;&#20844;&#21496;</FONT>
Guangdong Puyi Consulting Management Co., Ltd., a company duly incorporated under the laws of China (the &ldquo;<B>Puyi Asset</B>&rdquo;),
wholly owned subsidiary of <B>Bohui</B>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58pt; text-indent: -22pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(10)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#37325;&#24198;&#38155;&#27589;&#20225;&#19994;&#31649;&#29702;&#21672;&#35810;&#26377;&#38480;&#20844;&#21496;</FONT>Chongqing
Fengyi Enterprises Management Consultant Co., Limited., a company duly incorporated under the laws of China (the &ldquo;<B>Fengyi</B>&rdquo;),
wholly owned subsidiary of <B>Bohui</B>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58pt; text-indent: -22pt">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each of the parties to this Agreement is referred
to herein individually as a &ldquo;<B>Party</B>&rdquo; and collectively as the &ldquo;<B>Parties</B>&rdquo;.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">RECITALS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, as of the
date of this Agreement, the Seller owns 10,000 ordinary shares of Target Co. with par value of HK$1.0 per share (such shares, the &ldquo;<B>Sale
Shares</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Seller
desires to sell, transfer and deliver all of the Sale Shares to the Buyer for a cash consideration of RMB70.0 million (the &ldquo;<B>Consideration</B>&rdquo;)
in exchange for the Sale Shares, pursuant to the terms and subject to the conditions set forth in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Parties
desire to make certain representations, warranties, covenants and agreements in connection with this Agreement and the transactions contemplated
hereby and to prescribe certain conditions with respect to the consummation of the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW THEREFORE</B>, in consideration
of the premises set forth above and the Parties&rsquo; respective representations, warranties, covenants and agreements contained in this
Agreement, as well as other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties
agree as follows:</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">Article
1</FONT><BR>
Definitions and Interpretation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 1.1. Definitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the purposes of this Agreement,
in addition to the words and expressions defined elsewhere in this Agreement, the following terms shall have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Affiliate</B>&rdquo;
means, (a) with respect to any Person that is a natural person, (i) any other Person that is directly or indirectly Controlled by such
Person, (ii) such Person&rsquo;s spouse, lineal descendant (whether natural or adopted), brother, sister, or parent, and/or (iii) any
estate, trust or partnership that is established by or for the benefit of such Person or any Person described in (ii), in each case, that
is directly or indirectly Controlled by such Person, and (b) with respect to any Person that is not a natural person, any other Person
that is directly or indirectly Controlling, Controlled by or under common Control with such Person. For the avoidance of doubt, any Buyer
Group Company shall not be deemed to be an Affiliate of any Target Co. Group Company, and any Target Co. Group Company shall not be deemed
to be an Affiliate of any Buyer Group Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Applicable Law</B>&rdquo;
means any transnational, foreign or domestic federal, provincial, state or local law, statute, ordinance, treaty, constitution, regulation,
rule, code, Order, authoritative interpretation or other requirement or rule of law, including common law, as may be applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Approvals</B>&rdquo;
means any license, consent, authorization, order, confirmation, qualification, permission, certificate, approval, authorization, record-filing,
registration, permit, waiver and/or exemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Business Day</B>&rdquo;
means a day, other than Saturday, Sunday or any other day on which commercial banks in Hong Kong, the PRC, the British Virgin Islands,
are authorized or required by Applicable Laws to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Buyer Group Companies</B>&rdquo; means
the Buyer and its Subsidiaries from time to time, and each a &ldquo;<B>Buyer Group Company</B>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Buyer Material Adverse
Effect</B>&rdquo; means any event, circumstance, development, change or effect that, individually or in the aggregate, has or would reasonably
be expected to have a material adverse effect on (a) the business, properties, assets, Liabilities, operations, results of operations
or financial condition of the Buyer Group Companies, taken as a whole, or (b) the authority or ability of the Buyer to perform its obligations
under this Agreement or any of the Transaction Agreements; <I>provided</I>, <I>however</I>, that for purposes of clause (a) above, in
no event shall any of the following exceptions, alone or in combination with the other enumerated exceptions below, be deemed to constitute,
a Buyer Material Adverse Effect: (i) any effect resulting from compliance with the terms and conditions of, or from the announcement of
the transactions contemplated by this Agreement and/or any Transaction Agreement, (ii) any effect that results from changes affecting
the industries in which the Buyer or the Buyer Group Companies operate generally, (iii) any effect that results from changes affecting
general worldwide economic conditions, <I>provided</I> that any such changes in (ii) and (iii) do not disproportionately affect the Buyer
Group Companies, taken as a whole, in any material respect relative to other similarly situated participants in the industry in which
they operate, with comparable business volume and similar development stage, (iv) any pandemic, earthquake, typhoon, tornado or other
natural disaster or similar force majeure event, or (v) any failure to meet any internal or public projections, forecasts or guidance,
<I>provided</I> that the underlying causes that lead to any failure to meet any internal or public projections, forecasts or guidance
as set forth in (v) are not included under this clause (v).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Target Co. Group
Companies</B>&rdquo; means Target Co. and its directly owned Subsidiaries and contractual agreement controlled Subsidiaries, from time
to time, and immediately prior the Closing, and each a &ldquo;<B>Target Co. Group Company</B>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Target Co. Material
Adverse Effect</B>&rdquo; means any event, circumstance, development, change or effect that, individually or in the aggregate, has or
would reasonably be expected to have a material adverse effect on (a) the business, properties, assets, Liabilities, operations, results
of operations or financial condition of the Target Co. Group Companies, taken as a whole, or (b) the authority or ability of Target Co.
to perform its obligations under this Agreement or any of the Transaction Agreements; <I>provided</I>, <I>however</I>, that for purposes
of clause (a) above, in no event shall any of the following exceptions, alone or in combination with the other enumerated exceptions below,
be deemed to constitute, a Target Co. Material Adverse Effect: (i) any effect resulting from compliance with the terms and conditions
of, or from the announcement of the transactions contemplated by this Agreement and/or any Transaction Agreement, (ii) any effect that
results from changes affecting the industries in which Target Co. or the Target Co. Group Companies operate generally, (iii) any effect
that results from changes affecting general worldwide economic conditions, <I>provided</I> that any such changes in (ii) and (iii) do
not disproportionately affect the Target Co. Group Companies, taken as a whole, in any material respect relative to other similarly situated
participants in the industry, in which they operate with comparable business volume and similar development stage, (iv) any pandemic,
earthquake, typhoon, tornado or other natural disaster or similar force majeure event, or (v) any failure to meet any internal or public
projections, forecasts or guidance, <I>provided</I> that the underlying causes that lead to any failure to meet any internal or public
projections, forecasts or guidance as set forth in (v) are not included under this clause (v).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Control</B>&rdquo;
means, as to any Person, the power to direct or cause the direction of the management and policies of such Person, whether through the
ownership of voting securities, by contract or otherwise. The terms &ldquo;<B>Controlled by</B>&rdquo;, &ldquo;<B>Controlled</B>&rdquo;
and &ldquo;<B>Controlling</B>&rdquo; shall have correlative meanings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Fundamental Buyer
Representations</B>&rdquo; means the representations and warranties by Buyer in Section 3.1, Section 3.2, Section 3.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Fundamental Seller
Representations</B>&rdquo; means the representations and warranties by the Seller in Section 4.2, Section 4.3, Section 4.4, Section 4.5,
Section 4.13 and Section 4.15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Governmental Authority</B>&rdquo;
means any international, transnational, national, domestic or foreign, federal, state, prefecture, regional or local government, department,
division or subdivision, governmental, regulatory or administrative agency, administration, board, authority, commission, instrumentality
or other body, self-regulatory organization or any court, tribunal or other judicial or arbitral body, or any governing body of a stock
exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Hong Kong</B>&rdquo;
means the Hong Kong Special Administrative Region of the PRC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>HK$</B>&rdquo; or &ldquo;<B>HKD</B>&rdquo;
means the Hong Kong dollar, the lawful currency of the Hong Kong Special Administrative Region of the PRC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Indemnifying Party</B>&rdquo;
means the Buyer pursuant to Section 7.2, and the Seller pursuant to Section 7.4, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Intellectual Property</B>&rdquo;
means any intellectual property or similar proprietary rights, including all trademarks, service marks, business or trade names, trading
goodwill, Internet domain names, social media identifiers or accounts, designs (whether registered or unregistered), patents, copyrights,
database rights, confidential information, trade secrets, know-how and all registrations and applications for registration of any of the
foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Knowledge</B>&rdquo;
shall mean, with respect to any Person, the actual knowledge of such Person, and that knowledge which should have been acquired by such
Person after making such due inquiry and exercising such due diligence as a prudent business person would have made or exercised in the
management of his or her business affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Liability</B>&rdquo;
means any liability or obligation of any kind or description, whether accrued, contingent, absolute, determined, determinable, known,
unknown or otherwise, and whether presently in existence as of the date of this Agreement or arising hereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Lien</B>&rdquo;
means any charge, debenture, lien, mortgage, security interest, pledge deposit, encumbrance, assignment, hypothecation, title retention,
right of pre-emption, assignment, deed of trust, other security agreement or arrangement or other type of preferential arrangement having
similar effect, any voting proxy, power of attorney, voting trust arrangement, interest, exclusive license of Intellectual Property, right
of first refusal or any adverse claim as to title, possession or use and all other rights or interests exercisable by, or claims by, third
parties, irrespective of whether such Lien arises under any agreement or other instrument, operation of law or by means of a judgment,
order or decree of any Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Order</B>&rdquo;
means any order, writ, judgment, injunction, decree, stipulation, ruling, decision, verdict, determination or award made, issued or entered
by or with any Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Organizational Documents</B>&rdquo;
means, with respect to any Person (other than an individual), (a) the memorandum, certificate of incorporation, articles of association
or any other similar documents adopted or filed in connection with the creation, formation or organization of such Person and (b) the
by-laws, voting agreements and similar documents, instruments or agreements relating to the organization or governance of such Person,
in each case, as amended, supplemented or restated from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Person</B>&rdquo;
means any individual, partnership, corporation, company, limited liability company, firm, association, joint-stock company, trust, joint
venture, unincorporated organization, institution, trust or agency, Governmental Authority or other entity of any kind, whether or not
having a separate legal personality.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>PRC</B>&rdquo; means
the People&rsquo;s Republic of China, excluding, for purposes of this Agreement, Hong Kong, Taiwan and Macau Special Administrative Region
of the PRC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Proceeding</B>&rdquo;
means any claim, demand, suit, litigation, arbitration, proceeding, audit or investigation brought by or before any Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>SAMR</B>&rdquo;
means the State Administration for Market Regulation of the PRC and its local branches.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>SEC Documents</B>&rdquo;
means, collectively, all statements, reports, schedules, forms and other documents required to be filed or furnished by the Buyer or the
Seller (as the case may be) to or with the SEC pursuant to the listing rules and regulations from time to time, together with all exhibits
included therein and financial statements, notes and schedules thereto and documents incorporated by reference therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>SEC</B>&rdquo; means
the U.S. Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Securities Act</B>&rdquo;
means the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Subsidiary</B>&rdquo;
of a Person means any other Person that is Controlled by the first-mentioned Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Tax Return</B>&rdquo;
means any return, declaration, report, claim for refund, information return or statement or other document required to be filed with respect
to tax, including any schedule or attachment thereto, and including any amendment thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Transaction Documents</B>&rdquo;
means this Agreement, any instrument of transfer substantially in the form of <I>Exhibit A,</I> and any other agreement, document or instrument
entered into or delivered in connection with the transactions contemplated hereby or thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>&yen;</B>&rdquo; or &ldquo;<B>RMB</B>&rdquo;
means the renminbi, the lawful currency of the PRC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 1.2. <I>Interpretation</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement shall be construed
according to its fair language. The rule of construction to the effect that ambiguities are to be resolved against the drafting party
shall not be employed in interpreting this Agreement. For the purposes of this Agreement, the words &ldquo;hereof&rdquo;, &ldquo;herein&rdquo;
and &ldquo;hereunder&rdquo; and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular
provision of this Agreement. The captions herein are included for convenience of reference only and shall be ignored in the construction
or interpretation hereof. References to Articles, Sections, Exhibits and Schedules are to Articles, Sections, Exhibits and Schedules of
this Agreement unless otherwise specified. All Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated in
and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any Exhibit or Schedule but not otherwise
defined therein shall have the meaning as defined in this Agreement. Any singular term in this Agreement shall be deemed to include the
plural, and any plural term the singular. Whenever the words &ldquo;include&rdquo;, &ldquo;includes&rdquo; or &ldquo;including&rdquo;
are used in this Agreement, they shall be deemed to be followed by the words &ldquo;without limitation&rdquo;, whether or not they are
in fact followed by those words or words of like import. &ldquo;Writing&rdquo;, &ldquo;written&rdquo; and comparable terms refer to printing,
typing and other means of reproducing words (including email and other electronic media) in a visible form. References to any agreement
or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof
and thereof. References to any law include all rules and regulations promulgated thereunder and as amended, modified or supplemented from
time to time. References to any Person include the successors and permitted assigns of that Person. References from or through any date
mean, unless otherwise specified, from and including or through and including, respectively, and any time of day is a reference to China
Standard Time (unless otherwise specified), and if the date on or by which something must be done is not a Business Day, that thing must
be done on or by the Business Day immediately following such day.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">Article
2</FONT><BR>
Share Transfer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 2.1. <I>Share Transfer.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 29.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">Subject to the terms and
conditions hereof, the Seller agree to sell, transfer and deliver to the Buyer, at the Closing, all of the Sale Shares, free and clear
of all Liens and together with all rights attached or accruing to them at the Closing Date (as defined below), and the Buyer agrees purchase
the Sale Shares by a cash <B>Consideration</B> of RMB70.0 million (such transaction, the &ldquo;<B>Share Transfer</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 2.2. <I>Deliver of Securities and Payment
of Consideration.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: .5in">(a) <FONT STYLE="font-family: Times New Roman, Times, Serif">T</FONT>he
Buyer shall prepay 15% of the Total Consideration to bank account of the Seller or designated by the Seller on or prior to September 30,
2025 before the share transferred and the remaining of Total Consideration Price according to on or prior to September 30, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: .5in">(b) The
Seller shall, by executing and delivering share transfer forms evidencing the transfer, deliver to the Buyer the Securities on or immediately
when the Buyer made the prepayment prior to September 30, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 2.3. <I>Closing</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 29.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">The closing of the Share
Transfer (the &ldquo;Closing&rdquo;, and the date on which the Closing occurs, the &ldquo;Closing Date&rdquo;) shall take place via the
remote exchange of documents and signatures on a date as soon as possible but in any event no later than the fifth (5th) Business Day
after the satisfaction or valid waiver by the relevant Party of each of the conditions set forth in Section 5.1, Section 5.2 and Section
5.3 (except for the conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver of those
conditions at the Closing), or at such other time and place as collectively agreed by the Buyer and the Sellers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) At
the Closing, the Buyer shall deliver or cause to be delivered to the Sellers:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i) <FONT STYLE="font-family: Times New Roman, Times, Serif">T</FONT>he
Buyer shall prepay 15% of the Total Consideration to bank account of the Seller or designated by the Seller</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii) a
scanned copy of the board of directors&rsquo; resolutions of the Buyer, approving and consenting to, among other things, the execution,
delivery and performance of this Agreement and any other Transaction Document to which the Buyer is a party, and the transactions contemplated
hereby and thereby;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii) a
certificate executed by a duly authorized officer of the Buyer, certifying to the fulfillment of the conditions specified in Section 5.1
and Section 5.2;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv) to
the extent not previously delivered, such documents, instruments and items required to be delivered in connection with the fulfillment
of the conditions specified in Section 5.1 and Section 5.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) At
the Closing, the Sellers shall deliver or cause to be delivered to the Buyer:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i) a
certified true copy of the register of members of Target Co., reflecting the Buyer&rsquo;s ownership of the Sale Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii) a
scanned copy of the resignation letters duly executed by such director(s) of Target Co. nominated by the Sellers, the original copy of
which shall be delivered to Target Co.&rsquo;s registered agent within five (5) Business Days following the Closing Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii) a
scanned copy of the instrument of transfer evidencing the transfer of the Sale Shares to the Buyer, substantially in the form of <I>Exhibit
A</I>, duly executed by the Sellers, the original copy of which shall be delivered to Target Co.&rsquo;s registered agent within five
(5) Business Days following the Closing Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv) a
scanned copy of the directors&rsquo; resolutions of the Sellers, approving and consenting to, among other things, the execution, delivery
and performance of this Agreement and any other Transaction Document to which the Sellers is a party, and the transactions contemplated
hereby and thereby;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v) a
certificate executed by a duly authorized officer of the Sellers, certifying to the fulfillment of the conditions specified in Section
5.1 and Section 5.3; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vi) to
the extent not previously delivered, such documents, instruments and items required to be delivered in connection with the fulfillment
of the conditions specified in Section 5.1 and Section 5.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(c) At
the Closing, the Sellers shall, and shall cause the relevant Target Co. Group Companies to, deliver (or cause to be delivered) to the
Buyer (i) all chops and seals of the Target Co. Group Companies, including all company chops, financial chops, contract chops and other
chops and seals (if any), (ii) all books, accounts records, tax files, tax reports and any other similar documents of the Target Co. Group
Companies, (iii) all documents necessary to change the bank mandates of the Target Co. Group Companies in such manner as the Buyer requires
and all online banking u-keys of the Target Co. Group Companies, and (iv) all licenses, Permits, physical assets and contracts of the
Target Co. Group Companies.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">Article
3</FONT><BR>
Representations and Warranties of the Buyer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Buyer hereby represents
and warrants, as of the date hereof and as of the Closing Date, that each of the following statements is true and correct:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 3.1. <I>Existence and Power</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Buyer is an entity duly
organized or incorporated, validly existing and in good standing (to the extent such concept is applicable) under the laws of its jurisdiction
of organization or incorporation and has full right, power and authority to execute and deliver this Agreement and each other Transaction
Document to which it is or will be a party, to perform fully its obligations hereunder and thereunder and to consummate the transactions
contemplated hereby and thereby. The Buyer has the requisite corporate power and authorization to own, lease and operate its properties
and to carry on its business as now being conducted, except which have not had and would not constitute a Buyer Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 3.2. <I>Authorization; Due Execution</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The execution, delivery and
performance by the Buyer of this Agreement and each other Transaction Document to which it is or will be a party and the consummation
of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Buyer. The Buyer
has duly executed and delivered this Agreement and each other Transaction Document to which it is a party, and this Agreement and each
such other Transaction Document constitutes a legal, valid and binding obligation of the Buyer enforceable against it in accordance with
its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 3.3. <I>No Conflicts</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The execution, delivery and
performance by the Buyer of this Agreement and each other Transaction Document to which it is or will be a party and the consummation
of the transactions contemplated hereby and thereby do not and will not (with or without the giving of notice, the lapse of time or both)
conflict with or result in a violation or breach of, or default under, (a) the Organizational Documents of the Buyer; (b) any Applicable
Laws to which the Buyer or any of its properties or assets is subject; (c) any contract, agreement or other instrument applicable to the
Buyer or any of its properties or assets, except, in the case of clauses (a) and (b) above, to the extent that such conflict, violation,
breach or default, individually or in the aggregate, has not impaired or delayed, and will not impair or delay, the ability of the Buyer
to perform its obligations under this Agreement or any other Transaction Document to which it is a party or to consummate the transactions
contemplated hereby or thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 3.4. <I>Bankruptcy</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Buyer is not the subject
of any insolvency or liquidation Proceeding or any reorganization in any jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 3.5. <I>Brokers&rsquo;
Fees.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There is no investment banker,
broker, finder or other intermediary which has been retained by or is authorized to act on behalf of the Buyer or any of its Subsidiaries
who would be entitled to any fee or commission in connection with the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 3.6. <I>Independent Investigation</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Buyer has conducted its
own independent investigation, review and analysis of the business, operations, assets, liabilities, results of operations, financial
condition and prospects of the Seller and the Target Co. Group Companies, which investigation, review and analysis was done by the Buyer
and its Affiliates and representatives. In entering into this Agreement, the Buyer acknowledges that the Seller and its representatives
have not made any representations, warranties, estimates or projections, and it has not relied on any representations, warranties, estimates
or projections of the Seller or its representatives, other than the representations and warranties of the Seller set forth in <U>ARTICLE
4</U>.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">Article
4</FONT><BR>
Representations and Warranties of the Seller</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Seller hereby represents
and warrants, as of the date hereof and as of the Closing Date, that each of the following statements is true and correct:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 4.1. <I>Existence and Power</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the Seller and the
Target Co. Group Companies is an entity duly organized or incorporated, validly existing and in good standing (to the extent such concept
is applicable) under the laws of its jurisdiction of organization or incorporation and has full right, power and authority to execute
and deliver this Agreement and each other Transaction Document to which it is or will be a party, to perform fully its obligations hereunder
and thereunder and to consummate the transactions contemplated hereby and thereby. Each Target Co. Group Companies has the requisite corporate
power and authorization to own, lease and operate its properties and to carry on its business as now being conducted, except which have
not had and would not constitute a Target Co. Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 4.2. <I>Authorization; Due Execution</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The execution, delivery and
performance by each of the Seller and the Target Co. Group Companies of this Agreement and each other Transaction Document to which it
is or will be a party and the consummation of the transactions contemplated hereby and thereby have been duly authorized by all necessary
action on the part of it. Each of the Seller and the Target Co. Group Companies has duly executed and delivered this Agreement and each
other Transaction Document to which it is a party, and this Agreement and each such other Transaction Document constitutes a legal, valid
and binding obligation of it against it in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 4.3. <I>No Conflicts</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The execution, delivery and
performance by each of the Seller and the Target Co. Group Companies of this Agreement and each other Transaction Document to which it
is or will be a party and the consummation of the transactions contemplated hereby and thereby do not and will not (with or without the
giving of notice, the lapse of time or both) conflict with or result in a violation or breach of, or default under, (a) its the Organizational
Documents; (b) any Applicable Law to which it or any of its properties or assets is subject; (c) any contract, agreement or other instrument
applicable to it or any of its properties or assets, except, in the case of clauses (a) and (b) above, to the extent that such conflict,
violation, breach or default, individually or in the aggregate, has not impaired or delayed, and will not impair or delay, the ability
of it to perform its obligations under this Agreement or any other Transaction Document to which it is a party or to consummate the transactions
contemplated hereby or thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 4.4. <I>Capitalization.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) As
of immediately prior to the Closing, the authorized share capital of the Target Co. consists of HKD10,000 divided into 10,000 ordinary
shares of HKD1.0 par value each, all of which are issued and outstanding. All of the issued and outstanding shares of the Target Co. are
duly authorized, validly issued, fully paid and non-assessable and owned by the Seller as of immediately prior to the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) Except
as otherwise set forth above in this Section 4.5, there are no outstanding (i) shares of capital stock or voting securities of Target
Co., (ii) securities of Target Co. (whether debt or equity) convertible into or exchangeable for shares of capital stock or voting securities
of Target Co., or (iii) preemptive or other outstanding rights, options, warrants, conversion rights, &ldquo;phantom&rdquo; stock rights,
stock appreciation rights, redemption rights, repurchase rights, agreements, arrangements, calls, commitments or rights of any kind that
obligate Target Co. to issue or sell any shares of capital stock or other securities of Target Co. or any securities or obligations convertible
or exchangeable into or exercisable for, or giving any Person a right to subscribe for or acquire, any securities of Target Co., and no
securities or obligations evidencing such rights are authorized, issued or outstanding, or (iv) obligations of Target Co. to repurchase,
redeem or otherwise acquire any capital stock or equity interests of Target Co..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(c) Immediately
after the Closing, the Buyer shall own the Sale Shares, which shall represent 100% of Target Co.&rsquo;s then total issued and outstanding
shares, on an as-converted and fully-diluted basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 4.5. <I>Subsidiaries</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Subsidiary of Target
Co. has been duly organized, is validly existing and in good standing (to the extent such concept is applicable) under the laws of its
jurisdiction of organization or incorporation, and has the requisite corporate power and authorization to own, lease and operate its properties
and to carry on its business as now being conducted, except which have not had and would not constitute a Target Co. Material Adverse
Effect. Each Target Co. Group Company is duly qualified or licensed to do business in each jurisdiction in which the property owned, leased
or operated by it or the nature of the business conducted by it makes such qualification or licensing necessary, except where the failure
to be so qualified or licensed would not, individually or in the aggregate, reasonably be expected to have a Target Co. Material Adverse
Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 4.6. <I>Compliance with Laws</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The business of Target Co.
and its Subsidiaries is being conducted, and has been conducted at any time during the three (3) years prior to the date hereof, in all
material respects in accordance with their respective Applicable Laws and other requirements of all Governmental Authorities having jurisdiction
over or otherwise applicable to each of Target Co. and its Subsidiaries except as would not, individually or in the aggregate, result
in a Target Co. Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 4.7. <I>Governmental
Approvals</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The execution, delivery and
performance by the Seller and Target Co. of this Agreement and any other Transaction Document to which it is or will be a party and the
consummation of the transactions contemplated hereby and thereby do not and will not require any Approval issued or granted by, negative
clearance from, or expiration or early termination of any waiting period imposed by, any Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 4.8. <I>Financial Matters.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) The
financial statements of Target Co. Group Companies for the years ended June 30, 2024 and 2025 (collectively, the &ldquo;<B>Financial Statements</B>&rdquo;)
are attached to Section 4.9 of the Disclosure Letter, and present fairly and accurately the financial condition of Target Co. Group Companies
as of the dates therein indicated and the results of operations for the period or periods therein specified, all in accordance with US
GAAP on a consistent basis throughout the periods therein specified (except as otherwise noted therein). The information set forth in
the Financial Statements is true and accurate in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) Except
as disclosed in the Financial Statements, none of Target Co. Group Companies is a guarantor or indemnitor of any indebtedness of any other
person or entity, nor any Target Co. Group Company has any indebtedness or liability (contingent or otherwise) that it has directly or
indirectly created, incurred, assumed, or guaranteed, or with respect to which such Target Co. Group Company has otherwise become directly
or indirectly liable, in each case, except any indebtedness or liability incurred since March 31, 2025 in the ordinary course of business
consistent with past practices and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 4.9. <I>Operations</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Target Co. Group Companies
have good and marketable title to all real property and other properties owned by them that is material to the business of Target Co.
Group Companies taken as a whole, in each case free and clear of all Liens, except for Liens that do not materially affect the value of
such property and do not materially interfere with the use made and proposed to be made of such property by Target Co. Group Companies.
Any real property and facilities held under lease by Target Co. Group Companies that are material to the business of Target Co. Group
Companies are held by Target Co. Group Companies under valid, subsisting and enforceable leases with which Target Co. Group Companies
are in compliance in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 4.10. <I>Absence
of Certain Changes</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since July 1, 2025, (a) the
Target Co. Group Companies has not altered its method of accounting, and (b) Target Co. has not declared or made any dividend or distribution
of cash or other property to its shareholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital
stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 4.11. <I>Litigation</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the date hereof, there
is no Proceeding of any nature pending, or, to the Seller&rsquo;s Knowledge, threatened, in writing against Target Co. or any of its Subsidiaries,
or, to the Seller&rsquo;s Knowledge, any of their respective directors or officers in their capacities as such, which would, individually
or in the aggregate, have a Target Co. Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 4.12. <I>Bankruptcy</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Target Co. is not the subject
of any insolvency or liquidation Proceeding or any reorganization in any jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 4.13. <I>Brokers&rsquo; Fees.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There is no investment banker,
broker, finder or other intermediary which has been retained by or is authorized to act on behalf of the Target Co. or any of its Subsidiaries
who would be entitled to any fee or commission in connection with the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 4.14. <I>No Target Co. Material Adverse
Effect</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There has been no event, occurrence, development
or state of circumstances that has had, has or would reasonably be expected to, individually or aggregately, result in a Target Co. Material
Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 4.15. <I>Independent Investigation</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Seller has conducted its
own independent investigation, review and analysis of the business, operations, assets, liabilities, results of operations, financial
condition and prospects of the Buyer Group Companies, which investigation, review and analysis was done by the Seller and its Affiliates
and representatives. In entering into this Agreement, the Seller acknowledges that the Buyer and its representatives have not made any
representations, warranties, estimates or projections, and it has not relied on any representations, warranties, estimates or projections
of the Buyer or its representatives, other than the representations and warranties of the Buyer set forth in <U>ARTICLE 3</U>.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">Article
5</FONT><BR>
Conditions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 5.1. <I>Conditions to the Obligation
of the Seller and the Buyer to Consummate Closing</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As to each of the Seller and
the Buyer, its obligations to consummate the Closing are subject to the satisfaction or waiver by it of the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) no
Applicable Law shall have been adopted, promulgated or enforced by any Governmental Authority, and no temporary restraining Order, preliminary
or permanent injunction or other Order issued by any Governmental Authority of competent jurisdiction (an &ldquo;<B>Injunction</B>&rdquo;)
shall be in effect, having the effect of making the transactions contemplated hereby illegal or otherwise prohibiting the consummation
of the transactions contemplated hereby; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) no
Proceeding initiated by any Governmental Authority seeking an Injunction having the effect of making the transactions contemplated hereby
illegal or otherwise prohibiting the consummation of the transactions contemplated hereby shall be pending.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 5.2. <I>Other Conditions to the Obligation
of the Seller to Consummate the Closing</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition to the conditions specified in Section
5.1 above, the Seller&rsquo;s obligation to consummate the Closing is also subject to the fulfillment, on or prior to the Closing, of
each of the following conditions (any or all of which may be waived by the Seller, in its sole discretion, in whole or in part to the
extent permitted by Applicable Laws):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: .5in">(a) each
of the parties to the Transaction Documents, other than the Seller, shall have executed and delivered such Transaction Documents to the
Seller;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) the
representations and warranties set forth in Article 3 shall be true and correct in all material respects (other than the Fundamental Buyer
Representations, which shall be true and correct in all respects) on and as of the date hereof and the Closing Date as if made on the
Closing Date with reference to facts and circumstances then existing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(c) the
Buyer shall have performed and complied with, in all material respects, all agreements, obligations and conditions contained in this Agreement
that are required to be performed or complied with by it on or before the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(d) the
Buyer and its relevant Subsidiaries (if applicable) shall have obtained all relevant corporate and other Approvals and consents required
to be obtained by them, including Approvals from any Governmental Authority, directors, creditors and third parties (if applicable) necessary
for consummation of the transactions contemplated by this Agreement and any other Transaction Document, and the same shall not have been
withdrawn or amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: .5in">(e) there
shall have been no Buyer Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(f) the
conditions to consummate the closing of the Share Transfer shall have been satisfied or waived by the relevant parties; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(g) the
Buyer shall have delivered to the Seller a compliance certificate, dated the Closing Date and signed by an authorized representative of
the Buyer, certifying that the conditions specified in Section 5.2 have been fulfilled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 5.3. <I>Other Conditions to the Obligation
of the Buyer to Consummate the Closing</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the conditions
specified in Section 5.1 above, the Buyer&rsquo;s obligation to consummate the Closing is also subject to the fulfillment, on or prior
to the Closing, of each of the following conditions (any or all of which may be waived by the Buyer, in its sole discretion, in whole
or in part to the extent permitted by Applicable Laws):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) each
of the parties to the Transaction Documents, other than the Buyer, shall have executed and delivered such Transaction Documents to the
Buyer;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) the
representations and warranties set forth in Article 4 shall be true and correct in all material respects (other than the Fundamental Seller
Representations, which shall be true and correct in all respects) on and as of the date hereof and the Closing Date as if made on the
Closing Date with reference to facts and circumstances then existing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(c) the
Seller shall have performed and complied with, in all material respects, all agreements, obligations and conditions contained in this
Agreement that are required to be performed or complied with by it on or before the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(d) the
Seller and Target Co. Group Companies shall have obtained all relevant corporate and other Approvals and consents required to be obtained
by them, including Approvals from any Governmental Authority, directors, creditors and third parties (if applicable) necessary for consummation
of the transactions contemplated by this Agreement and any other Transaction Document, and the same shall not have been withdrawn or amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(e) there
shall have been no Target Co. Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(f) the
conditions to consummate the closing of the Share Transfer shall have been satisfied or waived by the relevant parties; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(g) the
Seller shall have delivered to the Buyer a compliance certificate, dated the Closing Date and signed by an authorized representative of
the Seller, certifying that the conditions specified in Section 5.3 have been fulfilled.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase"></FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">Article
6</FONT><BR>
Covenants</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 6.1. <I>Conduct of Business Pending
the Closing</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the period commencing
from the date of this Agreement up to the earlier of (x) the Closing Date, and (y) the termination of this Agreement in accordance with
Article 8 (the &ldquo;<B>Relevant Period</B>&rdquo;), Target Co. Group Companies shall use their commercially reasonable efforts to continue
to engage in business in the ordinary and normal course, consistent with past practice. During the Relevant Period, except as consented
to in writing by the Seller, the Buyer shall not (i) declare or make any dividend or distribution of cash or other property to its shareholders
or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock, or (b) issue any equity securities
to any officer, director, employee or Affiliate of the Buyer and its Subsidiaries, except pursuant to existing stock option plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 6.2. <I>Notification</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Target Co. and the Seller
shall notify the Buyer, and the Buyer shall notify each of Target Co. and the Seller, promptly upon becoming aware of (A) any material
adverse change in the business, operations, assets or financial condition of Target Co. Group Companies or the Buyer Group Companies,
(B) any material breach of any major contract or material default under any material commitment or arrangement to which any Target Co.
Group Company or any Buyer Group Company is a party, (C) any litigation, arbitration, administrative or other proceeding concerning or
affecting any Target Co. Group Company or any Buyer Group Company which is current, threatened or pending and is or would reasonably be
expected to be material to the Target Co. Group Companies taken as a whole or the Buyer Group Companies taken as a whole, (D) any event,
circumstance or matter which has had or is reasonably likely to have a Target Co. Material Adverse Effect or Buyer Material Adverse Effect,
as the case may be, and/or (E) any event, circumstance or matter which has caused or is reasonably likely to cause any breach of any representation,
warranty, covenant or agreement in respect of Target Co. / the Seller or the Buyer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 6.3. <I>Required Consents; Communications
with Governmental Authorities.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) Subject
to the terms and conditions of this Agreement, each Party shall use its reasonable best efforts to take, or cause to be taken, all actions
and to do, or cause to be done, all things necessary or desirable under Applicable Laws to consummate the transactions contemplated by
this Agreement and any other Transaction Document, including (i) determining whether any approval, consent, registration, permit, authorization,
other confirmation, waiver or other action from or by any Governmental Authority or counterparty to any contract of such Party is necessary
or advisable in connection with the consummation of the transactions contemplated by this Agreement or any other Transaction Document
(collectively, &ldquo;<B>Required Consents</B>&rdquo;); (ii) taking any actions in respect of, giving any notice to and preparing and
making any filings with, any Governmental Authority or other third party in respect of any Required Consent as promptly as practicable
following the date hereof and furnishing all information or other documentation required in connection with such action, notice or filing;
and (iii) taking such further steps as may be required to timely obtain and maintain each Required Consent, including by using reasonable
best efforts to obtain the early termination of any applicable waiting period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) To
the extent permitted by Applicable Laws or any relevant Governmental Authority, and subject to all applicable privileges, including the
attorney-client privilege, each Party shall (i) give to the other Parties prompt notice upon obtaining knowledge of the making or commencement
of any request, inquiry or Proceeding by or before any Governmental Authority with respect to the transactions contemplated hereby or
by any other Transaction Document; (ii) keep the other Parties informed as to the status of any such request, inquiry or Proceeding; and
(iii) promptly inform the other Parties of any communication to or from any Governmental Authority regarding the transactions contemplated
hereby or by any other Transaction Document. Each Party shall consult and cooperate with, and consider in good faith the views of, the
other Parties (to the extent practicable) throughout any defense of the transactions contemplated by this Agreement and any other Transaction
Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 6.4. <I>Confidentiality</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Party (the &ldquo;<B>Recipient</B>&rdquo;)
shall keep confidential, shall cause its Affiliates, and its and their respective counsels, financial advisors, auditors and other authorized
representatives, including, without limitation, their agents, employees, officers, and directors (collectively, the &ldquo;<B>Representatives</B>&rdquo;)
to keep confidential, the existence of the Transaction Documents and the transactions contemplated under the Transaction Documents, the
negotiations relating to any Transaction Document, and the terms and conditions hereof and of any other Transaction Document, and any
non-public information relating to any other Party and its Representatives (collectively, the &ldquo;<B>Confidential Information</B>&rdquo;)
except as such other Parties agree in writing otherwise; provided that the Recipient may disclose any Confidential Information (i) to
the extent that such disclosure is required by Applicable Laws and/or the rules of any stock exchange, and so long as, where such disclosure
is to a Governmental Authority or stock exchange, such Party shall use all reasonable efforts to obtain confidential treatment of the
Confidential Information so disclosed, to the extent permissible under the Applicable Laws and/or the rules of any stock exchange, or
(ii) to its professional advisors participating in the negotiation and implementation of the Transaction Documents so long as each such
professional advisor to whom the Confidential Information is so disclosed agree to keep such Confidential Information confidential, or
(iii) to its Representatives as necessary to the performance of its obligations in connection with any Transaction Document, in each case
so long as each such Person to whom the Confidential Information is so disclosed agrees to keep such Confidential Information confidential.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 6.5. <I>Further Assurances</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Parties shall take all
reasonable actions and provide all such reasonable assurances as may be required to consummate the transactions contemplated by this Agreement
and any other Transaction Document, and each Party shall provide such further documents or instruments reasonably required by any other
Party or desirable to effect the purposes of this Agreement and any other Transaction Document and to carry out their respective provisions.
For the avoidance of doubt, nothing in this Section 6.5 shall be construed to be obligated to waive the relevant conditions precedent
to its obligations to consummate the Closing, which shall be determined by each of the relevant Parties at its sole discretion and not
be subject to this Section 6.5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 6.6. <I>Public Announcements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Parties will, to the extent
permitted by Applicable Laws, consult with each other before issuance, and provide each other with the opportunity to review, comment
on, and use all reasonable efforts to agree on, any press release or other public disclosure with respect to this Agreement and the other
Transaction Documents and the transactions contemplated hereby and thereby, and will not (to the extent practicable) issue any such press
release or make any such public disclosure prior to such consultation and agreement, except that disclosure made by a Party without having
reached such agreement despite consultation shall be permissible if the substance and timing of the disclosure are necessary to comply
with the Applicable Laws or an applicable securities exchange rules and regulations, provided that the disclosing Party shall, to the
extent permitted by Applicable Laws or the applicable securities exchange rules and regulations and if reasonably practicable, inform
the other Parties of the disclosure to be made pursuant to such requirements prior to the disclosure. Subject to Applicable Laws, the
Parties shall use all reasonable efforts to promptly provide or cause to be promptly provided information and documents as requested by
the NASDAQ, the SEC, the CSRC or any other competent Governmental Authority or that are necessary or advisable to comply with the Applicable
Laws and the rules and regulations of any applicable securities exchange and permit consummation of the transactions contemplated hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 6.7. <I>Tax</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All transfer, documentary,
sales, use, stamp, registration, value added, and other such tax and fees (including any penalties and interest) incurred by and imposed
on a Party in connection with this Agreement shall be borne and paid by such Party when due. Each Party shall, if applicable, at its own
expense, timely file any Tax Return or other document with respect to such tax or fees.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">Article
7</FONT><BR>
Indemnification</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 7.1. <I>Survival.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) The
Fundamental Seller Representations and the Fundamental Buyer Representations shall survive indefinitely or until the latest date permitted
by Applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) All
representations and warranties contained in this Agreement other than the Fundamental Seller Representations and the Fundamental Buyer
Representations, shall survive the Closing until eighteen (18) months following the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(c) Notwithstanding
the foregoing clauses (a) and (b), any breach of any representation, warranty, covenant or agreement in respect of which indemnity may
be sought under this Agreement shall survive the time at which it would otherwise terminate pursuant to the clauses (a) and (b) above,
if notice of the inaccuracy or breach thereof giving rise to such right of indemnity shall have been given to the party against whom such
indemnity may be sought prior to such time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(d) Nothing
contained in this Agreement shall limit or exclude any liability for fraud or willful misrepresentation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7.2. <I>Indemnification
by the Buyer</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following the Closing, the
Buyer shall indemnify and hold harmless the Seller and its Affiliates and their respective officers, directors, employees, agents, successors
and assigns (each, a &ldquo;<B>Seller Indemnified Party</B>&rdquo;) for and against any and all Liabilities, losses, damages, claims,
costs and expenses, interest, awards, judgments and penalties (including reasonable and documented attorneys&rsquo; and consultants&rsquo;
fees and expenses) (each, a &ldquo;<B>Loss</B>&rdquo;) suffered or incurred by them (including any action brought or otherwise initiated
by any of them), arising out of or resulting from:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) any
breach or violation of, or inaccuracy in, any representation or warranty made by the Buyer under this Agreement or any claim by any third
party alleging, constituting or involving such a breach, violation or inaccuracy; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) any
breach or violation of, or failure to perform, any covenants or agreements made by or on behalf of, or to be performed by, the Buyer under
this Agreement or any claim by any third party alleging, constituting or involving such a breach, violation or failure to perform.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 7.3. <I>Limits on Indemnification by
the Buyer</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) The
Buyer shall not be liable to the Seller Indemnified Parties for indemnification under &lrm;Section 7.2 until the aggregate amount of all
Losses in respect of indemnification under Section 7.2 exceeds $3.0 million (the &ldquo;<B>Buyer Deductible</B>&rdquo;), in which event
the Buyer shall only be required to pay or be liable for Losses in excess of the Buyer Deductible. With respect to any claim as to which
a Seller Indemnified Party may be entitled to indemnification under Section 7.2, the Buyer shall not be liable for any individual or series
of related Losses which do not exceed $3.0 million (which Losses shall not be counted toward the Buyer Deductible).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) In
no event shall the Buyer be liable to any Seller Indemnified Party for any punitive, incidental, consequential, special, or indirect damages,
including loss of future revenue or income, loss of business reputation or opportunity relating to the breach or alleged breach of this
Agreement, or diminution of value or any damages based on any type of multiple.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(c) The
maximum aggregate liability of the Buyer to the Seller Indemnified Parties with respect to all indemnification claims pursuant to this
Section 7.2 shall not exceed $30.0 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(d) Payments
by the Buyer pursuant to Section 7.2 in respect of any Loss shall be limited to the amount of any liability or damage that remains after
deducting therefrom any insurance proceeds and any indemnity, contribution or other similar payment received or reasonably expected to
be received by the Seller Indemnified Parties in respect of any such claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(e) Payments
by the Buyer pursuant to Section 7.2 in respect of any Loss shall be reduced by an amount equal to any tax benefit realized or reasonably
expected to be realized as a result of such Loss by the relevant Seller Indemnified Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 7.4. <I>Indemnification by the Seller</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following the Closing, the
Seller shall indemnify and hold harmless the Buyer and its Affiliates and their respective officers, directors, employees, agents, successors
and assigns (each, a &ldquo;<B>Buyer Indemnified Party</B>&rdquo;; the Buyer Indemnified Parties together with the Seller Indemnified
Parties, collectively, the &ldquo;<B>Indemnified Parties</B>&rdquo;, and each, an &ldquo;<B>Indemnified Party</B>&rdquo;), for and against
any and all Losses actually suffered or incurred by them (including any action brought or otherwise initiated by any of them), arising
out of or resulting from:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) any
breach or violation of, or inaccuracy in, any representation or warranty made by the Seller under this Agreement or any claim by any third
party alleging, constituting or involving such a breach, violation or inaccuracy; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) any
breach or violation of, or failure to perform, any covenants or agreements made by or on behalf of, or to be performed by, the Seller
under this Agreement or any claim by any third party alleging, constituting or involving such a breach, violation or failure to perform.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7.5. <I>Limits
on Indemnification by the Seller</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) The
Seller shall not be liable to the Buyer Indemnified Parties for indemnification under &lrm;Section 7.4 until the aggregate amount of all
Losses in respect of indemnification under &lrm;Section 7.4 exceeds $3.0 million (the &ldquo;<B>Seller Deductible</B>&rdquo;), in which
event the Seller shall only be required to pay or be liable for Losses in excess of the Sellers Deductible. With respect to any claim
as to which a Buyer Indemnified Party may be entitled to indemnification under Section 7.4, the Seller shall not be liable for any individual
or series of related Losses which do not exceed $3.0 million (which Losses shall not be counted toward the Seller Deductible).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) In
no event shall the Seller be liable to any Buyer Indemnified Party for any punitive, incidental, consequential, special, or indirect damages,
including loss of future revenue or income, loss of business reputation or opportunity relating to the breach or alleged breach of this
Agreement, or diminution of value or any damages based on any type of multiple.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(c) The
maximum aggregate liability of the Seller to the Buyer Indemnified Parties with respect to all indemnification claims pursuant to this
Section 7.4 shall not exceed $30.0million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(d) Payments
by the Seller pursuant to Section 7.4 in respect of any Loss shall be limited to the amount of any liability or damage that remains after
deducting therefrom any insurance proceeds and any indemnity, contribution or other similar payment received or reasonably expected to
be received by the Buyer Indemnified Parties in respect of any such claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(e) Payments
by the Seller pursuant to Section 7.4 in respect of any Loss shall be reduced by an amount equal to any tax benefit realized or reasonably
expected to be realized as a result of such Loss by the relevant Buyer Indemnified Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7.6. <I>Mitigation.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Buyer, and the Seller
shall take, and cause each applicable Indemnified Party to take, all reasonable steps to mitigate any Loss upon becoming aware of any
event or circumstance that would be reasonably expected to, or does, give rise thereto, including incurring costs only to the minimum
extent necessary to remedy the breach that gives rise to such Loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7.7. <I>Sole Remedy;
Specific Performance</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding any other
provision contained herein, the remedies contained in this Article 7 shall be the sole and exclusive monetary remedy of the Indemnified
Parties for any claim arising out of or resulting from this Agreement, except that no limitation or exceptions with respect to the obligations
or liabilities on any Party provided hereunder (including, without limitation, the limitations set forth in Section 7.3(a) and Section
7.5) shall apply to the extent that such Losses arise or are increased as the consequence of any fraud or willful misrepresentation by
the Buyer or the Seller. Nothing in this Article 7 or elsewhere in this Agreement shall affect any Party&rsquo;s rights to specific performance
or other equitable or non-monetary remedies with respect to the covenants and agreements in this Agreement or that are to be performed
at or after the Closing; <I>provided</I> that for the avoidance of doubt, except in the case of fraud, nothing contained herein shall
permit any party to rescind this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 7.8. <I>Third Party Claims.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) If
any third party shall notify an Indemnified Party in writing with respect to any matter involving a claim by such third party (a &ldquo;<B>Third
Party Claim</B>&rdquo;) and such Indemnified Party believes such claim would give rise to a claim for indemnification against the Indemnifying
Party under this Article 7, then the Indemnified Party shall promptly (i) notify the Indemnifying Party thereof in writing and (ii) transmit
to the Indemnifying Party a written notice (&ldquo;<B>Claim Notice</B>&rdquo;) describing in reasonable detail, to the extent reasonably
practicable, the nature of the Third Party Claim, a copy of all papers served with respect to such claim (if any), and the basis of the
Indemnified Party&rsquo;s request for indemnification under this Agreement. The failure to so notify the Indemnifying Party shall not
relieve the Indemnifying Party of its obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) Upon receipt of a Claim
Notice with respect to a Third Party Claim, the Indemnifying Party shall have the right to assume the defense of any Third Party Claim
by, within thirty (30) days of receipt of the Claim Notice, notifying the Indemnified Party in writing that the Indemnifying Party elects
to assume the defense of such Third Party Claim, and upon delivery of such notice by the Indemnifying Party, the Indemnifying Party shall
have the right to control and settle the proceeding, <I>provided</I> that, (i) any such settlement or compromise shall be permitted hereunder
only with the written consent of the Indemnified Party which consent shall not be unreasonably withheld or delayed, and (ii) and the
Indemnifying Party shall keep the Indemnified Party reasonably informed of the progress of such defense on a regular basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(c) If
requested by the Indemnifying Party, the Indemnified Party shall, at the sole cost and expense of the Indemnifying Party, cooperate with
the Indemnifying Party and its counsel in contesting any Third Party Claim which the Indemnifying Party elects to contest, including the
making of any related counterclaim against the person asserting the Third Party Claim or any cross complaint against any person. The Indemnified
Party shall have the right to receive copies of all pleadings, notices and communications with respect to any Third Party Claim for which
indemnity is sought under this Agreement, other than any privileged communications between the Indemnifying Party and its counsel, and
shall be entitled, at its sole cost and expense, to retain separate co-counsel and participate in, but not control, any defense or settlement
(except for its consent required under Section 7.8(b) above) of any Third Party Claim assumed by the Indemnifying Party pursuant to Section
7.8(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(d) In the event of a Third
Party Claim for which the Indemnifying Party elects not to assume the defense or fails to make such an election within thirty (30) days
of the Claim Notice, the Indemnified Party may, at its option, defend, settle, compromise or pay such action or claim at the expense
of the Indemnifying Party; <I>provided</I> that, any such settlement or compromise shall be permitted hereunder only with the written
consent of the Indemnifying Party, which consent shall not be unreasonably withheld or delayed.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">Article
8</FONT><BR>
Termination</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 8.1. <I>Termination Rights</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement may be terminated
at any time prior to the Closing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) by
the mutual written consent of the Buyer or the Seller;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) by
the Buyer or the Seller, if the Closing has not occurred by the Long Stop Date, <I>provided</I> that any such Party whose breach of any
provision of this Agreement would give rise to the failure of the Closing to have been occurred by the Long Stop Date shall not have the
right to terminate this Agreement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(c) by
the Buyer or the Seller in the event that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i) there
shall be any Applicable Law that makes consummation of the transactions contemplated by this Agreement illegal or otherwise prohibited;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii) any
Governmental Authority shall have issued an Order restraining or enjoining the transactions contemplated by this Agreement, and such Order
shall have become final and non-appealable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 8.2. <I>Effects</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If this Agreement is terminated
as provided under this Section 8.1, this Agreement will be of no further force or effect upon termination; <I>provided</I> that (i) the
termination will not relieve any Party from any liability for any antecedent breach of this Agreement, and (ii) Section 6.4, Section 6.6,
Section 6.7, Article 7, Section 8.2, Section 9.2, Section 9.6, &lrm;Section 9.7, Section 9.8, &lrm;Section 9.9 and Section 9.12 shall
survive the termination of this Agreement.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase"></FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: normal; text-transform: uppercase">Article
9</FONT><BR>
Miscellaneous</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 9.1. <I>Entire Agreement</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement and other Transaction
Documents constitute the entire agreement between the Parties with respect to the subject matter hereof and thereof and supersede and
cancel all prior agreements, understandings, representations and warranties, both oral and written, between the Parties with respect thereto,
and there are no agreements, undertakings, representations or warranties of any of the Parties with respect to the transactions contemplated
hereby and thereby other than those set forth herein or therein or made hereunder or thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 9.2. <I>Notices</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any notices, requests, claims,
demands and other communications under this Agreement shall be in writing and shall be given or made (and shall be deemed to have been
duly given or made upon receipt) by delivery in person, by next-day or second-day courier service, or by electronic mail to the respective
Parties at the following addresses:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">if to the Buyer:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Address: 30C, Building 1, Lijingguoji, No.1006 Chuangyeyi Road,
Boan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">District, Shenzhen, Guangdong Province, China</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">E-mail: echoesgrouopLtd@163.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: Ms. Kristina MUKHACHOVA</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">if to the Seller:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">Address: 12F, Block B, Longhu Xicheng
Tianjie No. 399 Huazhaobi Xishun Street, Jinniu District, Chengdu Sichuan Province, PRC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">E-mail: yangyuanfen@puyiwm.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">Attention: Ms. Yuanfen Yang</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Where a notice is sent by
delivery in person, such notice shall be deemed received upon the delivery. Where a notice is sent by next-day or second-day courier service,
such notice shall be deemed received by properly addressing, pre-paying and sending by next-day or second-day service through an internationally-recognized
courier a letter containing the notice, with a written confirmation of delivery, at the earlier of (i) delivery (or when delivery is refused)
and (ii) expiration of three (3) Business Days after the letter containing the same is sent as aforesaid. Where a notice is sent by electronic
mail, such notice shall be deemed received by properly addressing, with a written confirmation of delivery, and on the day the same is
sent as aforesaid, if such day is a Business Day and if sent during normal business hours of the recipient, otherwise the next Business
Day. Notwithstanding the foregoing, to the extent a &ldquo;with a copy to&rdquo; address is designated, notice must also be given to such
address in the manner above for such notice, request, consent or other communication hereunder to be effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Party shall notify each
other Party of any change to its name, appropriate addressee, address or e-mail address for the purposes of this &lrm;Section 9.2 by delivering
a notice in accordance with the terms of this &lrm;Section 9.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 9.3. <I>Amendment; Waiver</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement may be amended
only by a written instrument executed by each of the Parties. References herein to this Agreement shall include any amendment or renewal
hereof. Any Party may waive any right of such Party under this Agreement by an instrument signed in writing by such Party. Except as specifically
provided herein, the failure or delay of any Party to enforce at any time any of the provisions of this Agreement shall in no way be construed
to be a waiver of any such provision or to affect the validity of this Agreement or any part hereof or the right of any Party thereafter
to enforce each such provision. No waiver of any breach of, or non-compliance with, this Agreement shall be deemed a waiver of any other
or subsequent breach or non-compliance. Except as specifically provided herein, all remedies, either under this Agreement or under Applicable
Laws or otherwise afforded, shall be cumulative and not alternative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 9.4. <I>Severability</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Every provision of this Agreement
is intended to be severable. If any term or provision hereof is declared or held illegal or invalid, in whole or in part, for any reason
whatsoever, such illegality or invalidity shall not affect the validity or enforceability of the remainder of the Agreement, and such
provision shall be deemed amended or modified only to the extent necessary to cure such illegality or invalidity. Upon such determination
of illegality or invalidity, the Parties shall negotiate in good faith to amend this Agreement to effect the original intent of the Parties.
The invalidity or unenforceability of any provision of this Agreement in any jurisdiction shall not affect the validity or enforceability
of the remainder of this Agreement in that jurisdiction or the validity or enforceability of this Agreement, including that provision,
in any other competent jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 9.5. <I>Non-assignment</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The provisions of this Agreement
shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns; <I>provided</I> that
neither this Agreement nor any right, remedy or Liability arising hereunder or by reason hereof may be assigned, delegated or otherwise
transferred by any Party to any Person without the prior written consent of each other Party, except to any Affiliate (in which case such
Party and its applicable Affiliate shall each be jointly and severally liable for their respective obligations) of such Party. Any assignment
in violation of this Section 9.5 shall be null and void and of no effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 9.6. <I>Governing Law.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement shall be governed
by and construed in accordance with the laws of Hong Kong, without regard to its principles of conflicts of laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 9.7. <I>Dispute Resolution.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(a) Any
dispute arising out of or in connection with this Agreement, including any question regarding its existence, validity or termination,
shall be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under
the HKIAC Administered Arbitration Rules (the &ldquo;<B>HKIAC Rules</B>&rdquo;) in force when the notice of arbitration is submitted in
accordance with the HKIAC Rules. The HKIAC Rules are deemed to be incorporated by reference to this clause. The tribunal shall be comprised
of three (3) arbitrators. The claimant and respondent shall each nominate one (1) arbitrator and the third, who shall serve as president
of the tribunal, shall be nominated by the Party-nominated arbitrators. The arbitration shall be conducted in English. Each Party irrevocably
and unconditionally consents to such arbitration as the sole and exclusive method of resolving any dispute arising out of or in connection
with this Agreement, including any question regarding its existence, validity or termination, other than any proceedings to seek the remedies
of specific performance as contemplated by &lrm;&lrm;Section 9.9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: .5in">(b) The
award of the arbitral tribunal shall be final and binding on the Parties. The Parties agree that they will not have recourse to any judicial
proceedings, in any jurisdiction whatsoever, for the purpose of seeking appeal, annulment, setting aside, modification or any diminution
or impairment of its terms or effect insofar as such exclusion can validly be made. Judgment upon any award rendered may be entered in
any court having jurisdiction thereof, or application may be made to such court for a judicial acceptance of the award, injunction and
an Order of enforcement, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 9.8. <I>Performance Pending Dispute
Resolution</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise terminated in accordance with
the terms hereof, this Agreement and the rights and obligations of the Parties hereunder shall remain in full force and effect during
the pendency of any proceeding under &lrm;&lrm;Section 9.7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 9.9. <I>Specific Performance</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Parties acknowledge and
agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and
that, prior to the termination of this Agreement in accordance with &lrm;&lrm;&lrm;&lrm;Section 9.7, each Party shall be entitled to specific
performance of the terms hereof. It is accordingly agreed that prior to such termination, each Party shall be entitled to an injunction
or injunctions to prevent such breaches of this Agreement and to enforce specifically (without proof of actual damages or harm, and not
subject to any requirement for the securing or posting of any bond in connection therewith) such terms and provisions of this Agreement,
this being in addition to any other remedy to which each Party is entitled at law or in equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 9.10. <I>Counterparts</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement may be executed
in any number of counterparts and by the Parties on separate counterparts, each of which shall be an original but all of which together
shall constitute one and the same instrument. A &ldquo;PDF&rdquo; signature shall be considered due execution and shall be binding upon
the signatory thereto with the same force and effect as if the signature were an original.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 9.11. <I>Third-Party
Beneficiaries</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as otherwise expressly
set forth in this Agreement, there are no third-party beneficiaries of this Agreement and nothing in this Agreement, express or implied,
is intended to confer on any third party any rights, remedies or obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 9.12. <I>Expenses</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as otherwise expressly
set forth in this Agreement, each Party shall bear the taxes, costs and expenses incurred by it in connection with negotiating this Agreement
and any other Transaction Document and in preparing and implementing this Agreement, any other Transaction Document and the transactions
contemplated hereby and thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Remainder of Page Intentionally Left Blank]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>, the Parties have executed
this Agreement as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>Echoes Group Ltd</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 32%">Kristina MUKHACHOVA</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>director</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Exhibits to Shares Sales
and Purchases Agreement]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>, the Parties have executed
this Agreement as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>Puyi Group Limited </B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 32%">Min Zhou</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>director</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Exhibits to Shares Sales
and Purchases Agreement]<B>&nbsp;</B></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>EXHIBIT A<BR>
INSTRUMENT OF TRANSFER</B></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Exhibits to Shares Sales and Purchases Agreement</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">29</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

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