English Translation of the Termination Agreement of the Investment Agreement, dated July 2, 2021, by and among Hongyi Industry Group Co., Ltd., Sichuan Jinkailong Automobile Leasing Co., Ltd. and its shareholders
Exhibit 10.42
Termination Agreement of Investment Agreement
Party A (Investor): Hongyi Industry Group Co., Ltd.
Address: No. 16, Building 1, No.9, Gaoshengqiao, Wuhou District, Chengdu City
Legal representative: Liu Zhihong
Contact number: 13880757266
Party B 1 (Shareholder 1 of target company):
Name: Hunan Ruixi Financial Leasing Co., Ltd.
Address: No. 723, Building 3A, Jinke Times Center, Xiangyang Road, Changsha Economic and Technological Development Zone
Legal representative: Li Xianglong
Contact number: 0731-85576087
Party B 2 (Shareholder 2 of target company):
| Name: Chen Xiaoliang | ID Card No.: 330727198705232217 |
| Address: No. 135, Xichan Village, Renchuan Town, Pan’an County, Zhejiang Province | Contact number: 15828082558 |
Party B 3 (Shareholder 3 of target company):
| Name: Yang Xi | ID Card No.: 522426198609164722 |
| Address: No. 31, Group 13, Fangbei Village, Nanquan Town, Shifang City, Sichuan Province | Contact number: 13730811113 |
Party B 4 (Shareholder 4 of target company): Chengdu Simushi Technology Co., Ltd.
Address: No. 1, Floor 1-3, Building 1, No.8, Lushan Avenue 2nd Segment, Wan’an Town, Tianfu New Area, Chengdu City, Sichuan Province
| Designated representative: Huang Kai | Contact number: 15682033337 |
Party C (Dormant shareholder of target company):
| Name: He Yiqiang | ID Card No.: 510682198606094755 |
| Address: No. 31, Group 13, Fangbei Village, Nanquan Town, Shifang City, Sichuan Province | Contact number: 13730811113 |
Party D (Target company): Sichuan Jinkailong Automobile Leasing Co., Ltd.
Address: No. 192, Floor 1, Unit 1, Building 5, No.192, Yongquan Jinquan Street, Wenjiang District, Chengdu City
Legal representative: Chen Xiaoliang
[Party A, Party B, Party C and Party D are collectively known as “above parties”, Party A, Party B and Party C are collectively known as “Investor and shareholder of target company (including dormant shareholder)”, and Party D is individually known as “target company”]
Whereas the above parties signed the Investment Agreement in Wuhou District, Chengdu City on July 4, 2020, they conclude the following terms on the matter of termination of the Investment Agreement for joint abidance through consensus according to the provision of Contract Law of the People’s Republic of China and relevant laws and regulations, as well as the principles of equality, voluntariness, mutual understanding and mutual accommodation:
Article 1: Through consensus, the investor and shareholder of target company (including dormant shareholder) agree to terminate the Investment Agreement on June 24, 2021, which takes effect from the date of signing the Agreement.
Article 2: Since January 2020, due to a large-scale COVID-19 outbreak in the country, each industry was seriously impacted, and the large-scale epidemic disease had a significant impact on the market environment and management direction of the target company (Sichuan Jinkailong Automobile Leasing Co., Ltd.) as a force majeure. Therefore, according to the change of market situation and significant adjustment and change of business strategy of target company, the investor and shareholder of target company (including dormant shareholder) reach a consensus through friendly negotiation.
Article 3: Regarding the termination of Investment Agreement, the investor, shareholder of target company (including dormant shareholder) and target company will not assume any creditor’s right and debt or responsibility for breach of contract (including but not limited to the investment, payment, overdue fine, liquidated damage, compensation and other creditor’s rights and debts) due to termination of the Agreement during duration of Investment Agreement and in advance.
Article 4: After the Investment Agreement is terminated, the rights and obligations of all parties agreed in original Investment Agreement shall also be cancelled. But the confidentiality terms shall not be cancelled upon termination of the Agreement, or else, the default party shall assume the responsibility for breach of contract.
Article 5: The Agreement shall take effect upon being signed and sealed by the above parties, and the Agreement shall be in septuplicate, above parties holding one copy with equal legal force.
(This is a page for signature, no text below)
Party A (Investor): Hongyi Industry Group Co., Ltd. (Official seal)
Legal representative or its authorized representative (Signature): (company seal)
Party B 1 (Shareholder 1 of target company): Hunan Ruixi Financial Leasing Co., Ltd. (Official seal)
Legal representative or its authorized representative (Signature): (company seal)
Party B 2 (Shareholder 2 of target company): Chen Xiaoliang
Signature and fingerprint: /s/ Chen Xiaoliang (fingerprint)
Party B 3 (Shareholder 3 of target company): Yang Xi
Signature and fingerprint: /s/ Yang Xi (fingerprint)
Party B 4 (Shareholder 4 of target company): Chengdu Simushi Technology Co., Ltd. (Official seal)
Legal representative or its authorized representative (Signature): (company seal)
Party C (Dormant shareholder of target company): He Yiqiang
Signature and fingerprint: He Yiqiang (fingerprint)
Party D (Target company): Sichuan Jinkailong Automobile Leasing Co., Ltd. (Official seal)
Legal representative or its authorized representative (Signature): (company seal)
Sign in Chengdu on July 2, 2021
