EQUITY PLEDGE AGREEMENT (English Translation)
(English
Translation)
This
Equity Pledge Agreement (hereinafter this “Agreement”)
is
dated August 18, 2006, and is entered into in Xi’an, China between Hangson
Limited, a business company incorporated under the laws of the British Virgin
Islands, located at 0xx
Xxxxx,
Xxxxxx Xxxxxxxx, Xxxx Xxxx, Xxxxxxx, Xxxxxxx Xxxxxx Xxxxxxx (“Pledgee”),
and
each of the shareholders of Party B listed on the signature pages hereto
(collectively, the “Pledgors”),
and
Shaanxi Suo’ang Biological Science & Technology Co., Ltd., a company with
joint stock limited liability organized under the laws of the People’s Republic
of China (“Party
B”
or
“Shaanxi
Suo’ang”),
with
a registered address at 22F, Suite A, Zhengxin Building, No.5, Gaoxin 1st Road,
Xi’an Hi-tech Industries Development Zone, Xi’an, Shaanxi Province, People’x
Xxxxxxxx xx Xxxxx 000000.
RECITALS
1.
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The
Pledgee is a corporation incorporated under the laws of the British
Virgin
Islands that has technological expertise in both the production and
sale
of coal-polymer (“COPO”) resin products and also in clean coal and coal
water mixture energy technology and
products.
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2. |
The
Pledgors are each shareholders of Shaanxi Suo’ang. The Pledgors
collectively own over 50% of the outstanding equity interests of
Shaanxi
Suo’ang.
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3.
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Pledgee
and Shaanxi Suo’ang have executed a Consulting Services Agreement
(hereinafter “Consulting
Services Agreement”
or “Services
Agreement”)
concurrently herewith. Based on this agreement, Shaanxi Suo’ang shall pay
technical consulting and service fees (hereinafter the “Consulting
Services Fees”
or “Services
Fees”)
to Pledgee for offering technology consulting and related services.
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4.
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In
order to ensure that Shaanxi Suo’ang will perform its obligations under
the Consulting Services Agreement, and in order to provide an additional
mechanism for the Pledgee to enforce its rights to collect the Consulting
Services Fees from Shaanxi Suo’ang, the Pledgors agree to pledge all their
equity interest in Shaanxi Suo’ang as security for the performance of the
obligations of Shaanxi Suo’ang under the Consulting Services Agreement and
the payment of Consulting Services Fees under such agreement.
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NOW
THEREFORE,
the
Pledgee, Shaanxi Suo’ang and the Pledgors through mutual negotiations hereby
enter into this Agreement based upon the following terms:
1. Definitions
and Interpretation.
Unless
otherwise provided in this Agreement, the following terms shall have the
following meanings:
1.1 “Pledge”
refers
to the full content of Section 2 hereunder.
1.2 “Equity
Interest”
refers
to all the equity interest in Shaanxi Suo’ang legally held by the
Pledgors.
1.3 “Term
of Pledge”
refers
to the period provided for under Section 3.1 hereunder.
1.4 “Event
of Default”
refers
to any event in accordance with Section 7.1 hereunder.
1.5 “Notice
of Default”
refers
to the notice of default issued by the Pledgee in accordance with this
Agreement.
2.
Pledge.
The
Pledgors agree to pledge their equity interest in Shaanxi Suo’ang to the Pledgee
(“Pledged
Collateral”)
as a
security for the obligations of Shaanxi Suo’ang under the Consulting Services
Agreement. Pledge under this Agreement refers to the rights owned by the
Pledgee, who shall be entitled to a priority in receiving payment by the
evaluation or proceeds from the auction or sale of the equity interest pledged
by the Pledgors to the Pledgee.
3.
Term
of Pledge.
3.1
The
Pledge shall take effect as of the date when the Pledge of the equity interest
under this Agreement is recorded in the Register of Shareholder of Shaanxi
Suo’ang. The term of the Pledge shall last until two (2) years after the
obligations under the Consulting Services Agreement have been fulfilled.
3.2
During
the term of the Pledge, the Pledgee shall be entitled to vote, control, sell,
or
dispose of the pledged assets in accordance with this Agreement in the event
that Pledgors do not perform their obligation under the Consulting Services
Agreement and Shaanxi Suo’ang fails to pay the Consulting Services Fees in
accordance with the Consulting Services Agreement.
4. Physical
Possession of Documents.
4.1 During
the term of Pledge under this Agreement, the Pledgors shall deliver the physical
possession of their certificates representing shares of capital stock of Shaanxi
Suo’ang (“Share Certificates”) to the Pledgee within one (1) week as of the date
of conclusion of this Agreement.
4.2 The
Pledgee shall be entitled to collect any and all dividends for declared or
paid
in connection with the equity interest.
4.3 The
Pledge under this Agreement shall be recorded in the Register of Shareholders
of
Shaanxi Suo’ang. The Pledgor shall, within 10 days after the date of this
Agreement, process the registration procedures with Beijing Administration
for
Industry and Commerce concerning the Pledge.
5.
Representation
and Warranties of Pledgors.
5.1 The
Pledgors are the legal owners of the equity interest pledged.
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5.2 The
Pledgors have not pledged the equity interest to any other party, and or the
equity interest is not encumbered to any other person except for the Pledgee.
6.
Covenants
of Pledgors.
6.1 During
the effective term of this Agreement, the Pledgors promise to the Pledgee for
its benefit that the Pledgors shall:
6.1.1 Not
transfer or assign the equity interest, create or permit to create any pledges
which may have an adverse effect on the rights or benefits of the Pledgee
without prior written consent from the Pledgee.
6.1.2 Comply
with and implement laws and regulations with respect to the pledge of rights;
present to the Pledgee the notices, orders or suggestions with respect to the
Pledge issued or made by the competent authority within five (5) days upon
receiving such notices, orders or suggestions; and comply with such notices,
orders or suggestions; or object to the foregoing matters at the reasonable
request of the Pledgee or with consent from the Pledgee.
6.1.3 Timely
notify the Pledgee of any events or any received notices which may affect the
Pledgor’s equity interest or any part of its right, and any events or any
received notices which may change the Pledgor’s any warranty and obligation
under this Agreement or affect the Pledgor’s performance of its obligations
under this Agreement.
6.2 The
Pledgors agree that the Pledgee’s right to the Pledge obtained from this
Agreement shall not be suspended or inhibited by any legal procedure launched
by
the Pledgor or any successors of the Pledgor or any person authorized by the
Pledgor or any such other person.
6.3 The
Pledgors promise to the Pledgee that in order to protect or perfect the security
for the payment of the Services Fees, the Pledgors shall execute in good faith
and cause other parties who have interests in the Pledge to execute all the
title certificates, contracts, and perform actions and cause other parties
who
have interests to take action, as required by the Pledgee; and make access
to
exercise the rights and authorization vested in the Pledgee under this
Agreement.
6.4 The
Pledgors promise to the Pledgee that they will execute all amendment documents
(if applicable and necessary) in connection with any registration of the Pledge
or any transfer of the Share Certificates with the Pledgee or its designated
person (natural person or a legal entity), and provide the notice, order and
decision to the Pledgee as necessary, within a reasonable amount of time upon
request.
6.5 The
Pledgors promise to the Pledgee that they will comply with and perform all
the
guarantees, covenants, warranties, representations and conditions for the
benefits of the Pledgee. The Pledgors shall compensate all the losses suffered
by the Pledgee as a result of the Pledgors failing perform or fully perform
their guarantees, covenants, warranties, representations and
conditions.
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7. Events
Of Default.
7.1 The
following events shall be regarded as the events of default:
7.1.1 This
Agreement is deemed illegal by a governing authority in the PRC, or the Pledgor
is not capable of continuing to perform the obligations herein due to any reason
except force majeure;
7.1.2 Shaanxi
Suo’ang fails to make full payment of the Services Fees as scheduled under the
Service Agreement;
7.1.3 A
Pledgor
makes any materially false, inaccurate, incomplete or misleading representations
or warranties under Section 5 herein, and/or the Pledgor breaches any warranties
under Section 5 herein;
7.1.4 A
Pledgor
breaches the covenants under Section 6 herein;
7.1.5 A
Pledgor
breaches the term or condition herein;
7.1.6 A
Pledgor
waives the pledged equity interest or transfers or assigns the pledged equity
interest without prior written consent of the Pledgee;
7.1.7 Shaanxi
Suo’ang is incapable of repaying the general debt or other debt;
7.1.8 The
property of the Pledgor is adversely affected causing the Pledgee to believe
that the capability of the Pledgor to perform the obligations herein is
adversely affected;
7.1.9 The
successors or agents of the Shaanxi Suo’ang are only able to perform a portion
of or refuse to perform the payment obligations under the Service Agreement;
7.1.10 The
breach of the other terms by action or inaction under this agreement by the
Pledgor.
7.2 The
Pledgor shall immediately give a written notice to the Pledgee if the Pledgor
is
aware of or discovers that any event under Section 7.1 herein or any event
that
may result in the foregoing events has occurred or is likely to
occur.
7.3 Unless
the event of default under Section 7.1 herein has been solved to the Pledgee’s
satisfaction, the Pledgee, at any time when the event of default occurs or
thereafter, may give a written notice of default to the Pledgor and require
the
Pledgor to immediately make full payment of the outstanding Service Fees under
the Service Agreement and other payables or exercise other rights in accordance
with Section 8 herein.
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8. Exercise
of Remedies.
8.1 Authorized
Action by Secured Party.
The
Pledgors hereby irrevocably appoint Pledgee the attorney-in-fact of the Pledgors
for the purpose of carrying out the security provisions of this Agreement and
taking any action and executing any instrument that the Pledgee may deem
necessary or advisable to accomplish the purposes of this Agreement. If an
event
of default occurs, or is continuing, Pledgee shall have the right to exercise
the following rights and powers:
(a) Collect
by legal proceedings or otherwise and endorse and/or receive all payments,
proceeds and other sums and property now or hereafter payable on or on account
of the Pledged Collateral;
(b) Enter
into any extension, reorganization, deposit, merger, consolidation or other
agreement pertaining to, or deposit, surrender, accept, hold or apply other
property in exchange for the Pledged Collateral;
(c) Transfer
the Pledged Collateral to its own or its nominee’s name;
(d) Make
any
compromise or settlement, and take any action it deems advisable, with respect
to the Pledged Collateral;
(e) Notify
any obligor with respect to any Pledged Collateral to make payment directly
to
the Pledgee;
(f) All
rights of the Pledgors to exercise the voting and other consensual rights it
would otherwise be entitled to exercise without any action or the giving of
any
notice shall cease, and all such rights shall thereupon become vested in the
Pledgee;
(g) All
rights of the Pledgors to receive distributions with respect to the Pledged
Collateral which it would otherwise be authorized to receive and retain shall
cease and all such rights shall thereupon become vested in the Pledgee;
and
(h) The
Pledgors shall execute and deliver to the Pledgee appropriate instruments as
the
Pledgee may request in order to permit the Pledgee to exercise the voting and
other rights which it may be entitled to exercise and to receive all
distributions which it may be entitled to receive.
The
Pledgors hereby grant to Pledgee an exclusive, irrevocable power of attorney,
with full power and authority in the place and stead of the Pledgors to take
all
such action permitted under this Section
8.1.
Such
power of attorney shall be effective, automatically and without the necessity
of
any action (including any transfer of any Pledged Collateral) by any person,
upon the occurrence and continuance of an event of default. Pledgee shall not
have any duty to exercise any such right or to preserve the same and shall
not
be liable for any failure to do so or for any delay in doing so.
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8.2 Events
of default; Remedies.
Upon
the occurrence of an event of default, Pledgee may, without notice to or demand
on the Pledgors and in addition to all rights and remedies available to Pledgee,
at law, in equity or otherwise, do any of the following:
(a) Require
the Pledgors to immediately pay all outstanding unpaid amounts due under the
Consulting Services Agreement;
(b) Foreclose
or otherwise enforce Pledgee’s security interest in any manner permitted by law
or provided for in this Agreement;
(c) Sell
or
transfer the rights or otherwise dispose of any Pledged Collateral at one or
more public or private sales at Pledgee’s place of business or any other place
or places, whether or not such Pledged Collateral is present at the place of
sale, for cash or credit or future delivery, on such terms and in such manner
as
Pledgee may determine;
(d) Terminate
this Agreement pursuant to Section 11.
(e) Personally,
or by agents or attorneys, immediately take possession of the Pledged Collateral
or any part thereof, from the Pledgors or any other person who then has
possession of any part thereof with or without notice or process of
law;
(f) Demand,
xxx for, collect or receive any money or property at any time payable or
receivable in respect of the Pledged Collateral;
(g) Sell
or
otherwise liquidate, or direct the Pledgors to sell, assign, transfer or
otherwise liquidate the Pledged Collateral or any part thereof, and take
possession of the proceeds of any such sale or liquidation;
(h) Exercise
any and all rights as beneficial and legal owner of the Pledged Collateral,
including, without limitation, perfecting assignment of and exercising any
and
all voting, consensual and other rights and powers with respect to any Pledged
Collateral;
(i) Exercise
any and all rights as beneficial and legal owner of the Pledged Collateral,
including, without limitation, perfecting assignment of and exercising any
and
all voting, consensual and other rights and powers with respect to any Pledged
Collateral;
and
(j)
All
the rights and remedies of a secured party upon default under applicable
law.
8.3 The
Pledgee shall give a notice of default to the Pledgors when the Pledgee
exercises its remedies under this Agreement.
8.4 Subject
to Section 7.3, the Pledgee may exercise its remedies under this Agreement
at
any time after the Pledgee gives a notice of default in accordance with Section
7.3 or thereafter.
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8.5 The
Pledgee is entitled to priority in receiving payment by the evaluation or
proceeds from the auction or sale of whole or part of the equity interest
pledged herein in accordance with legal procedure until the unpaid Services
Fees
under the Services Agreement are repaid.
8.6 The
Pledgor shall not hinder the Pledgee from exercising its rights in accordance
with this Agreement and shall give necessary assistance so that the Pledgee
may
exercise its rights in full.
9.
Assignment.
9.1 The
Pledgors shall not donate or transfer rights and obligations herein without
prior consent from the Pledgee.
9.2 This
Agreement shall be binding upon each of the Pledgors and his, her or its
successors and be binding on the Pledgee and his each successor and
assignee.
9.3 The
Pledgee may transfer or assign his all or any rights and obligations under
the
Service Agreement to any individual specified by it (natural person or legal
entity) at any time. In this case, the assignee shall enjoy and undertake the
same rights and obligations herein of the Pledgee as if the assignee is a party
hereto. When the Pledgee transfers or assigns the rights and obligations under
the Service Agreement, and such transfer shall only be subject to a written
notice serviced to Pledgors, and at the request of the Pledgee, the Pledgors
shall execute the relevant agreements and/or documents with respect to such
transfer or assignment.
9.4 In
the
event of a change in control of the Pledgee resulting in the transfer or
assignment of this agreement, the successor parties to the pledge shall execute
a new pledge contract.
10.
Effectiveness
and Term.
The
agreement is effective as of the date first set forth above and from the date
when the pledge is recorded on the Register of Shareholders of Shaanxi Suo’ang.
This Agreement will replace any and all previous Equity Pledge Agreements
entered by and among the Parties upon its effectiveness.
11.
Termination.
This
Agreement shall not be terminated until the service fees under the Consulting
Services Agreement are paid off and the Pledgors will not undertake any further
obligations under the Service Agreement, and the Pledgee shall cancel or
terminate this Agreement within reasonable time as soon as
practicable.
12. Formalities,
Fees and Other Charges.
12.1 The
Pledgors shall be responsible for all the fees and actual expenses in relation
to this Agreement including but not limited to legal fees, cost of production,
stamp tax and any other taxes and charges. If the Pledgee pays the relevant
taxes in accordance with applicable law, the Pledgors shall fully indemnify
the
Pledgee such taxes paid by the Pledgee.
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12.2 The
Pledgors shall be responsible for all the fees (including but not limited to
any
taxes, formalities fees, management fees, litigation fees, attorney’s fees, and
various insurance premiums in connection with disposition of Pledge) incurred
by
the Pledgors for the reason that the Pledgors fail to pay any payable taxes,
fees or charges for other reasons which cause the Pledgee to recourse by any
means or ways.
13. Force
Majeure.
13.1 “Force
Majeure,” shall include but not be limited to acts of governments, acts of
nature, fire, explosion, typhoon, flood, earthquake, tide, lightning, war,
refers to any unforeseen events beyond the party’s reasonable control and cannot
be prevented with reasonable care. However, any shortage of credit, capital
or
finance shall not be regarded as an event beyond a Party’s reasonable control.
The affected party by Force Majeure shall notify the other party of such event
resulting in exemption promptly.
13.2 In
the
event that the affected party is delayed in or prevented from performing its
obligations under this Agreement by Force Majeure, only within the scope of
such
delay or prevention, the affected party will not be responsible for any damage
by reason of such a failure or delay of performance. The affected party shall
take appropriate means to minimize or remove the effects of Force Majeure and
attempt to resume performance of the obligations delayed or prevented by the
event of Force Majeure. After occurrence of an event of Force Majeure, when
such
event or condition ceases to exist, both parties agree to resume the performance
of this Agreement with their best efforts.
14.
Confidentiality.
The
parties of this agreement acknowledge and make sure that all the oral and
written materials exchanged relating to this contract are confidential. All
the
parties have to keep them confidential and can not disclose them to any other
third party without other parties’ prior written approval, unless: (a) the
public know and will know the materials (not because of the disclosure by any
contractual party); (b) the disclosed materials are required by laws or stock
exchange rules; or (c) materials relating to this transaction are disclosed
to
parties’ legal consultants or financial advisors, however, who have to keep them
confidential as well. Disclosure of confidential information by Employees or
hired institutions of the parties is deemed as the act by the parties,
therefore, subjecting them to liability.
15. Dispute
Resolution.
15.1 This
Agreement shall be governed by and construed in accordance with the PRC
law.
15.2 The
parties shall strive to settle any dispute arising from the interpretation
or
performance, or in connection with this Agreement through friendly consultation.
In case no settlement can be reached through consultation, each party can submit
such matter to China International Economic and Trade Arbitration Commission
(“CIETAC”) for arbitration. The arbitration shall follow the current rules of
CIETAC, and the arbitration proceedings shall be conducted in Chinese and shall
take place in Beijing. Any resulting arbitration award shall be final and
binding upon the parties.
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16. Notices.
Any
notice which is given by the parties hereto for the purpose of performing the
rights and obligations hereunder shall be in writing. Where such notice is
delivered personally, the time of notice is the time when such notice actually
reaches the addressee; where such notice is transmitted by facsimile, the notice
time is the time when such notice is transmitted. If such notice does not reach
the addressee on business date or reaches the addressee after the business
time,
the next business day following such day is the date of notice. The delivery
place is the address first written above of the parties hereto or the address
advised in writing including via facsimile from time to time.
17. Entire
Contract.
All
Parties agree that this Agreement constitute the entire agreement of the Parties
with respect to the subject matter therein upon its effectiveness and supersedes
and replaces all prior oral and/or written agreements and understandings
relating to this Agreement.
18. Severability.
Any
provision of this Agreement which is invalid or unenforceable because of
inconsistent with the relevant laws shall, as to that jurisdiction, be
ineffective to the extent of such invalidity or unenforceability, without
affecting in any way the remaining provisions hereof.
19. Appendices.
The
appendices to this Agreement are entire and integral part of this
Agreement.
20. Amendment
or Supplement.
20.1 Parties
may amend and supply this Agreement with a written agreement, provided that
such
amendment shall be duly executed and signed by the Pledgee, Shaanxi Suo’ang, and
holders of a majority of the shares of Shaanxi Suo’ang held by the Pledgors, and
such amendment shall thereupon become a part of this Agreement and shall have
the same legal effect as this Agreement.
20.2 This
agreement and any amendments, modification, supplements, additions or changes
hereto shall be in writing and come into effect upon being executed and sealed
by the parties hereto.
21. Copies
of the Agreement.
This
Agreement may be executed in two or more counterparts, which together shall
constitute a single agreement. This Agreement and any documents relating to
it
may be executed and transmitted to any other Party by facsimile, which facsimile
shall be deemed to be, and utilized in all respects as, an original, wet-inked
document and with the same legal effect as an original.
[SIGNATURE
PAGE FOLLOWS]
9
SIGNATURE
PAGE
IN
WITNESS WHEREOF
each
party hereto has caused this Equity Pledge Agreement duly executed by itself
or
a duly authorized representative on its behalf as of the date first written
above.
PLEDGEE: | HANGSON LIMITED | |
|
|
|
By: | /s/ Baowen Ren | |
Name: Baowen Ren |
||
Title: President |
PARTY B: |
SHAANXI
SUO’ANG BIOLOGICAL SCIENCE &
TECHNOLOGY
CO., LTD.
|
|
|
|
|
By: | /s/ Baowen Ren | |
Name: Baowen Ren |
||
Title: President |
[SIGNATURE
PAGE CONTINUES ON THE FOLLOWING PAGE]
10
PLEDGORS
SIGNATURE PAGE
PLEDGORS:
SHAREHOLDERS
OF PARTY B:
/s/
Shaanxi Hangzhong Lanchao Garment Group Co., Ltd.
By:
Shaanxi
Hangzhong Lanchao Garment Group Co., Ltd.
(PRC
ID
Card No.: 6123002000570)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned by
Shaanxi
Hangzhong Lanchao Garment Group Co., Ltd.: RMB16,000,000
(22.86%)
/s/
Baowen Ren
By:
Baowen
Ren
(PRC
ID
Card No.: 612301700515001)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned by
Baowen
Ren:
RMB15,150,000 (21.64%)
/s/
Fuxiu Qu
By:
Fuxiu
Qu
(PRC
ID
Card No.: 612301440413042)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned
by
Fuxiu
Qu:
RMB780,000 (1.11%)
/s/
Yuan Lei
By:
Yuan
Lei
(PRC
ID
Card No.: 612301600209062)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned by
Yuan
Lei:
RMB750,000 (1.07%)
/s/
Shanqing Yong
By:
Shanqing Yong
(PRC
ID
Card No.: 612323570512001)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned by
Shanqing
Yong:
RMB750,000 (1.07%)
11
/s/
Xxxx Xxxx
By:
Xxxx
Xxxx
(PRC
ID
Card No.: 612321651228003)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned by
Xxxx
Xxxx:
RMB7,720,000 (11.03%)
/s/
Wenxia Ren
By:
Wenxia
Ren
(PRC
ID
Card No.: 612323640824222)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned by
Wenxia
Ren:
RMB650,00 (0.93%)
/s/
Xxxxxxxxx Xxx
By:
Xxxxxxxxx
Xxx
(PRC
ID
Card No.: 612301410820041)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned by
Xxxxxxxxx
Xxx:
RMB6,620,000 (9.46%)
/s/
Xxxx Xxxxx
By:
Xxxx
Xxxxx
(PRC
ID
Card No.: 612301197110190520)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned by
Xxxx
Xxxxx:
RMB600,000 (0.86%)
/s/
Xx
Xxxx
By:
Xx
Xxxx
(PRC
ID
Card No.: 612301196510270429)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned by
Xx
Xxxx:
RMB550,000 (0.79%)
/s/
Xxxxxx Xxxx
By:
Xxxxxx
Xxxx
(PRC
ID
Card No.: 612321691226023)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned by
Xxxxxx
Xxxx:
RMB450,000 (0.64%)
12
/s/
Xxxxxx Xxxxx
By:
Xxxxxx
Xxxxx
(PRC
ID
Card No.: 000000000000000)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned
by
Xxxxxx
Xxxxx:
RMB11,480,000 (16.40%)
/s/
Xxxxxx Xxx
By:
Xxxxxx
Xxx
(PRC
ID
Card No.: 612301780220091)
Shares
of
Shaanxi Suo’ang Biological Science & Technology Co., Ltd. owned by
Xxxxxx
Xxx:
RMB8,500,000 (12.14%)
13