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Laws and regulations

1. Legality (legitimacy) of private lending relations between investors and borrowers

According to Article 196 of the Contract Law, “the loan contract is a contract whereby the debtor borrows from the lender, returns the loan and pays interest.” The Contract Law allows the borrowing relationship between normal persons and other ordinary civil entities; it also allows the lender to recover the principal and interest in accordance with the law when due (it expires).

2. The legitimacy of the intermediary matchmaking services between the borrower and the lender provided by Sheng Loan Website platform.

According to the provisions of Chapter 23 of the Contract Law on “intermediate contracts”, in particular the “intermediate contract” as stipulated in Article 424 is that the intermediation contract is for the mediator to report to the client the opportunity to conclude a contract or to provide a media service for the conclusion of the contract, the contract for which the client pays the remuneration. Legally established as intermediary service organization, Sheng Loan Website provides a clear legal basis for private lending and intermediation services for lenders and borrowers.

3. The legitimacy of the loan proceeds obtained by the investors through the platform of Sheng Loan Website

According to Article 26 of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases: Where the agreed interest rate between the lender and the borrower does not exceed 24% of the annual interest rate, and the lender requests the borrower to pay interest at the agreed interest rate, the people's court shall support the request. The loan project's income from the Sheng Loan Website does not exceed 24% of annual interest rate, which is legal interest income and protected by law.

4. the legality and validity of electronic contracts

According to the Contract Law and the Electronic Signature Law, parties may conclude contracts in the form of contracts, letters and data messages (including telegrams, telexes, faxes, electronic data exchanges and e-mails),and by signing in electronic form, with an electronic signature such as a data message attached to identify the signatory and indicating that he/she approves the content, the parties may not negate the law effectiveness simply because the contract uses electronic signatures or data messages. The Contract Law stipulates that an electronic contract has the same legal effect as a printed contract