EX-10.14 5 ex10-14.htm

Exhibit 10.14

Supplementary Agreement to the Equity Transfer Agreement

Transferors (hereinafter referred to as “Party A”):

Shareholder |  | ID No./ Passport No.
Xu Huajian |  | ***
Cai Jiancong |  | ***
Xie Huiyan |  | ***
Xu Pingyi |  | ***
Xiong Haoyu |  | ***
Mo Lingping |  | ***
Yao Yasong |  | ***
WangYunmei |  | ***
Zhu Yibing |  | ***
Yuan Bowen |  | ***
Liu Yuntao |  | ***
Zhong Zisheng |  | ***
Zhong Xiaohong |  | ***
Zhu Yiyong |  | ***
Dai Zhuoran |  | ***
Yuan Chen Peter |  | ***

Transferee (hereinafter referred to as “Party B”): Lobo Holdings Ltd, a incorporated in accordance with the laws of Hong Kong Special Administrative Region, People’s Republic of China;

Whereas:

| 1. | Jiangsu Luobei Electric Vehicle Co., Ltd. (hereinafter referred to as “Target Company”) was established in Wuxi City, Jiangsu Province on November 29, 2021, and now has registered capital of RMB 10 million.
| 2. | On March 14, 2022, Patty B has signed the Equity Transfer Agreement of Jiangsu Luobei Electric Vehicle Co., Ltd. with each party to Party A,

Upon mutual consensus, the patties hereto reach the following supplementary agreement m connection with transfer of the equity in the Target Company:

I. As the shareholder of the Target Company, Party A shall pay up the contributions to the Target Company before May 31, 2022.

II. Patty A shall hold l00% of equity in the Target Company, and shall have subscribed contributions of RMB l0 million. Party A respectively transfers its all equity held in the Target Company (hereinafter referred to as the “Target Equity”) to Patty B in consideration of the corresponding subscribed contribution as the equity transfer price (hereinafter referred to as the “equity transfer price”) as follows:

Party A |  | Subscribed Contributions (RMB’0,000) |  | Contribution Percentage (%) |  | Equity Transfer Price (RMB’0,000)
Xu Huajian |  | 463 |  | 46.3 |  | 463
Cai Jiancong |  | 100 |  | 10 |  | 100
Xie Huiyan |  | 100 |  | 10 |  | 100
Xu Pingyi |  | 115.8 |  | 11.58 |  | 115.8
XiongHaoyu |  | 49.9 |  | 4.99 |  | 49.9
Mo Lingping |  | 35 |  | 3.5 |  | 35
Yao Yasong |  | 35 |  | 3.5 |  | 35
WangYunmei |  | 30.4 |  | 3.04 |  | 30.4
Zhu Yibing |  | 10.5 |  | 1.05 |  | 10.5
Yuan Bowen |  | 10 |  | 1 |  | 10
Liu Yuntao |  | 5.2 |  | 0.52 |  | 5.2
Zhong Zisheng |  | 5.2 |  | 0.52 |  | 5.2
Zhong Xiaohong |  | 5 |  | 0.5 |  | 5
Zhu Yiyong |  | 5 |  | 0.5 |  | 5
Dai Zhuoran (Hong Kong Resident) |  | 20 |  | 2 |  | 20
Yuan Chen Peter (US Citizen) |  | 10 |  | 1 |  | 10
Total |  | 1000 |  | 100.00 |  | 1000

III. Party B shall pay the equity transfer price to Patty A within 12 months from the date. When the Target Equity has been filed registered with the administration for industry and commerce.

IV. The parties hereto shall file transfer of the Target Equity with the competent company registration department within 30 business days after execution of the Agreement.

V. The Agreement shall come into force after Party A and Patty B affix signature and seal hereon.

[The remainder of this page is the signature page]

[The remainder of this page is intentionally left blank and is the signature page to the Supplementary Agreement to the Equity Transfer Agreement]

Transferors:

/s/ Xu Huajian |  | /s/ Cai Jiancong
X u Huajian |  | Cai Jiancong
/s/ Xie Huiyan |  | /s/ Xiong Haoyu
X ie Huiyan |  | Xiong Haoyu
/s/ Mo Lingping |  | /s/ Yao Yasong
M o Lingping |  | Yao Yasong
/s/ Wang Yunmei |  | /s/ Zhu Yibing
W ang Yunmei |  | Zhu Yibing
/s/ Yuan Bowen |  | /s/ Liu Yuntao
Y uan Bowen |  | Liu Yuntao
/s/ Zhong Zisheng |  | /s/ Zhong Xiahong
Z hong Zisheng |  | Zhong Xiahong
/s/ Zhu Yiyong |  | /s/ Xu Pingyi
Z hu Yiyong |  | Xu Pingyi
/s/ Dai Zhuoran |  | /s/ Yuagh Chen Peter
D ai Zhuoran |  | Yuagh Chen Peter

Transferee: Lobo Holdings Ltd

(Seal) For and on behalf of

LOBO HOLDIGNS LIMITED

Authorized Representative: Xu Huajian |  | (Signature)

Authorized Signature(s)

Date of Signature: March 18, 2023