Common use of Factoring Facilities Clause in Contracts

Factoring Facilities. Pursuant to the terms and conditions of the Factoring Agreement, the Factoring Bank has agreed to provide recourse factoring facility of approximately RMB105,332,451.30 to the Company and the Company has agreed to transfer of the undue sums from the Lease Receivables I (i.e. RMB48,935,333), the Lease Receivables II (i.e. RMB57,551,700), the Lease Receivables III (i.e. RMB10,673,958), the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979) to the Factoring Bank for obtaining the Funds from the Factoring Bank. The Company intends to use the Funds as general working capital.

Factoring Facilities. Pursuant to the terms and conditions of the Factoring AgreementAgreement I, the Factoring Bank has agreed to provide recourse factoring facility of approximately RMB105,332,451.30 RMB58,272,659.9 to the Company and the Company has agreed to transfer of the undue sums from the Lease Receivables I (i.e. RMB48,935,333)RMB66,139,642) to the Factoring Bank for obtaining the Funds from the Factoring Bank. Pursuant to the terms and conditions of the Factoring Agreement II, the Factoring Bank has agreed to provide recourse factoring facility of approximately RMB58,271,282.4 to the Company and the Company has agreed to transfer of the undue sums from the Lease Receivables II (i.e. RMB57,551,700), the Lease Receivables III (i.e. RMB10,673,958), the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB66,138,192) to the Factoring Bank for obtaining the Funds from the Factoring Bank. The Company intends to use the Funds as general working capital.

Factoring Facilities. Pursuant to the terms and conditions of the Factoring Agreement, the Factoring Bank has agreed to provide recourse factoring facility of approximately RMB105,332,451.30 RMB114,023,902.2 to the Company and the Company has agreed to transfer of the undue sums from the Lease Receivables I (i.e. RMB48,935,333RMB35,074,116), the Lease Receivables II (i.e. RMB57,551,700RMB35,661,551), the Lease Receivables III (i.e. RMB10,673,958), RMB33,896,250) and the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB30,619,559) to the Factoring Bank for obtaining the Funds from the Factoring Bank. The Company intends to use the Funds as general working capital.

Factoring Facilities. Pursuant to the terms and conditions of the Factoring Agreement, the Factoring Bank has agreed to provide recourse factoring facility of approximately RMB105,332,451.30 RMB61,697,536 (the “Funds”) to the Company and the Company has agreed to transfer of the undue sums from the Lease Receivables I (i.e. RMB48,935,333RMB31,459,462), the Lease Receivables II (i.e. RMB57,551,700RMB15,722,370), and the Lease Receivables III (i.e. RMB10,673,958), the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB29,940,088) to the Factoring Bank for obtaining the Funds from the Factoring Bank. The Company intends to use the Funds as general working capital.

Factoring Facilities. Pursuant to the terms and conditions of the Factoring Agreement, the Factoring Bank has agreed to provide recourse factoring facility of approximately RMB105,332,451.30 RMB50,000,000 to the Company and the Company has agreed to transfer of the undue sums from the Lease Receivables I (i.e. RMB48,935,333RMB14,583,477), the Lease Receivables II (i.e. RMB57,551,700), RMB11,182,550) and the Lease Receivables III (i.e. RMB10,673,958), the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB39,972,778) to the Factoring Bank for obtaining the Funds from the Factoring Bank. The Company intends to use the Funds as general working capital.

Factoring Facilities. Pursuant to the terms and conditions of the Factoring Agreement, the Factoring Bank has agreed to provide recourse factoring facility of approximately RMB105,332,451.30 RMB131,850,000 to the Company and the Company has agreed to transfer of the undue sums from the Lease Receivables I (i.e. RMB48,935,333RMB30,413,245), the Lease Receivables II (i.e. RMB57,551,700RMB42,976,600), the Lease Receivables III (i.e. RMB10,673,958), RMB22,026,208) and the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB54,405,477) to the Factoring Bank for obtaining the Funds from the Factoring Bank. The Company intends to use the Funds as general working capital.