Loan Agreement
Exhibit 4.120
Contract No. :ABC(2012)1003-1
13010120150000397
Borrower : Shijie Kaiyuan Auto Trading Co., Ltd.
Lender : Agricultural Bank of China, Shijiazhuang North City Branch
Signing Date : February15, 2015
Loan Amount : RMB100,000,000
Length of maturity : February15, 2015 to February14, 2016
Use of Loan : Vehicle Purchase
Loan Interest : 6.72%
Debt Note: Debt note is one of the part of the contract, not specified in the contract or records do not match the loan amount, date of draft, repayment date stated on the debt note, the loan documents shall prevail.
There are two Debt Note of the contract:
| 1. | Date of Draft : February 16, 2015 |
Draft Amount: RMB80,000,000
| 2. | Date of Draft : February 25, 2015 |
Draft Amount: RMB20,000,000
Withdrawal Amount : RMB100,000,000
Payment Method : The interest should be repaid by monthly. The principal shall be fully repaid at the maturity date of the loan.
Repayment Date : February14, 2016
Loan Guarantee : Guaranty of Mortgage Guaranty of Guarantee,
- Hebei Ruiliang Trading Co., Ltd entered into The Maximum Pledge Contract with the lender, with the contract no.13100220150014859.
- WEIXING entered into The Maximum Mortgage Contract with the lender, with the contract no.13100120150017907.
