On 28 January 2022, Fiscal Year Financial (Shenzhen) Co., Ltd. entered into a new direct leasing transaction with Guizhou Qinghui Construction Machinery Co., Ltd. (the Lessee), pursuant to which the Company would purchase the Lease Assets from the Supplier at an aggregate purchase price of RMB 3,000,000 and the Company would lease the Lease Assets to the Lessee for a term of 24 months in return for lease payment. The Lease Assets purchased under the Sale and Purchase Agreement shall be leased by the Company to the Lessee for a term of 24 months commencing from the payment of the second installment of the purchase price by the Company to the Supplier under the Sale and Purchase Agreement. The Lease Agreement shall be conditional upon the signing of the Sale and Purchase Agreement, the taking effect of the guarantee agreements and the security agreement referred to in the Lease Agreement, the receipt of the security deposit by the Company from the Lessee and the receipt of the original insurance policy of the Lease Assets by the Company.

The lease payment under the Lease Agreement shall be paid by the Lessee on a monthly basis over the 24 months term in the amount of RMB 112,035 per installment, totaling RMB 2,688,840. The lease payment has been agreed after arm's length negotiations between the Company and the Lessee with reference to the purchase costs of the Lease Assets by the Company, the creditability of the Lessee and the prevailing market interest rate for finance leases. A security deposit of RMB 120,000 is payable by the Lessee under the Lease Agreement within 10 business days after the signing of the Lease Agreement.