股权投资条款清单（中英文版）
要点
公司、投资人及实际控制人拟定的最终协议等相关文件进一步约定，各方无需承担进一步拟定和执行最终协议的责任和义务。
TERM SHEET FOR PURCHASE OF EQUITY IN
股权投资条款清单
This Term Sheet summarizes the principal terms with respect to anticipated investments by the Investors (as defined hereunder) in (the “Company”) and is qualified in its entirety by the more detailed provisions to be set forth in the Definitive Agreements (as defined hereunder) which may be entered into by and between the Company, the Investors and the Actual Controller (as defined hereunder). The parties understand and acknowledge that, except for the sections captioned “Confidentiality”, “No Shop”, “Expenses”, and “Governing Law”, this Term Sheet is not legally binding and that failure to execute and deliver the Definitive Agreements shall impose no liability on the parties. This Term Sheet does not constitute either an offer to sell or an offer to purchase shares of the Company. THIS PREAMBLE IS AN INTEGRAL PART OF THIS TERM SHEET. This Term Sheet is executed by all parties as of the date of .
本投资条款清单概述了投资人（如下文定义）拟（简称“公司”）的主要条款。本条款完整及其详尽地说明将于公司、投资人及实际控制人（如下文定义）将要拟定的最终协议（如下文定义）等相关文件中进一步约定。各方了解并承认除标题为“保密”、“排他性”、“费用”和“适用法律”之外的其他条款不具有法律约束力。各方无需承担进一步拟定和执行最终协议的责任和义务。本条款清单不构成买卖公司股权的效力。该导言是本条款清单必不可少的一部分。本投资条款清单由各方于年月日签署。
The Company
公司
Investor 投资人and/or its affiliates
英飞尼迪创业投资中心（有限合伙）及/或其关联方
Actual Controller
实际控制人“Actual Controller” means any person or group of persons acting in concert that controls the Company, including .
“Person” includes individual and entity.
“Control” means the possession, directly or indirectly, of the power to cause the direction of the management or policies of the Company, by voting、contract or otherwise.
“实际控制人”指控制公司的任何人或一致行动人，包
括。
“人”包括自然人和实体。
“控制”指通过行使投票权，合同或以其它方式直接或间接的拥有指示或决定公司经营方向或公司的政策。
Existing Shareholders
现有股东“Existing Shareholders”means any individuals and entities who hold shares of the Company at the signing day of this term sheet, including:
Shareholders Register capital Proportions
“现有股东”指在本投资条款清单签署之日持有公司股权的自然人及企业，包括
股东出资额（人民币元）持股比例
Pre-money Evaluation
融资前估值RMB , based on times after tax net income of the Company for the fiscal year .
人民币元，即公司年度税后净利润
的倍
Investment Amounts
投资金额The Investors intend to invest RMB in the Company to purchase newly issued shares of the Company and will
hold %of the Company’s registered capital after completion of the Closing.
投资人有意向公司投资人民币元，其将持有交割完成后公司全部注册资本总额之%。
Pre-money and Post-money Capital Tables
公司融资前后股权变化
Pre-money
投资前
Post-money
投资后
% %
% %
% %
% % Total % %
总计
Target Closing Date
交割日The Closing Date is expected to take place within business days from the effective date of the Definitive Agreements. The Investors will wire transfer all of their investment sum to the newly opened capital-verification account of the Company.
交割预计将于最终协议生效之日起个工作日内进行，届时投资人向公司新开立的验资账户支付全部投资款项。
Qualified IPO
合格的首次公开发行“Qualified IPO” means the closing of a firm commitment underwritten public offering of common shares of the Company at Shanghai/Shenzhen Stock Exchange, the Main Board of the Hong Kong Stock Exchange, NYSE, NASDAQ or other internationally recognized stock exchanges, with the Company’s market capitalization at least RMB and funding size no less than RMB .
The Actual Controller and the Company undertake to use their best endeavors to achieve a Qualified IPO in any case
by , and to make the Company’s shares have reasonable liquidity after the Qualified IPO.
“合格的首次公开发行”指在上海/深圳证券交易所、香港证券交易所主板、NYSE、NASDAQ或其它得到国际认可的证券交易所进行的一次承销的公开招股，且公司的市场价值至少达到亿人民币，并且融资规模不少
于亿人民币。
实际控制人和公司承诺尽最大努力
在年月日前实现首次公开发行，并且在公开发行后保持公司股票足够的流动性。
Net Profit Guarantee
业绩承诺The Company undertakes and guarantees that its after tax net profit of financial year is not less than RMB , and its after tax net profit of financial year is not less than RMB .
The after tax net profit should be audited by an auditor permitted by the Investors in writing, and should not include extraordinary gains or losses.
公司承诺其年税后净利润不低于人民币万元，其年税后净利润不低于人民币万元。（分
别称为“”）
税后净利润须经投资人书面认可的会计师事务所进行审计，且应扣除非经常性损益。
Valuation Adjustment
估值调整If the Company fails to achieve its net profit guarantee in the year of , each of the Investors shall have the right to adjust its share proportion by requesting the Actual Controller to transfer shares voluntarily based on the following formula:
The Investor’s adjusted share proportion = (Net Profit Guarantee / actual after-tax net profit) * the Investor’s pre-adjusted share proportion
The after-tax net profit in the year of should be audited by an auditor permitted by the Investors in writing, and should not include extraordinary gains or losses.
If, however, the Actual Controller hasn’t conducted such share adjustment in previous year, if any, then it should compensate share adjustment in that year in prior, then based on such adjustment, should it continue to compensate the Investors with share adjustment in the following year.
如果年度公司未实现当年业绩承诺，则每一投资人的持股比例将按照如下公式进行调整，并通过实际控制人向每一投资人无偿转让股权的方式进行操作：
调整后的投资人持股比例=（年度业绩承诺
/ 年度实际税后净利润）*调整前投资人的持股比例
年度实际税后净利润为该年度公司经投资人书面认可的会计事务所审计且已扣除非经常性损益的税后净利润。
若实际控制人对每一投资人进行该年度股权补偿时其尚未实施对投资人的上一年度股权补偿（若有），则须按照上述公式计算先行计算上一年度的股权补偿数额，再在其基础上计算该年度的股权补偿数额。
Preferred Participation Right
优先参与权To the fullest extent of applicable laws, the Investors will have the right of first refusal to subscribe for future issuance of the shares by the Company prior to a Qualified IPO, pro rata in proportion to their respective shareholding in the Company, except the issuance regarding ESOP. For the avoidance of doubt, such right of first refusal will terminate upon, and shall not include, the Company’s Qualified IPO.
在适用法律允许的范围内，每一投资人有权按照其持有的公司股权的比例以第一顺序认购公司未来新发行的股权，但公司为实施员工股权激励计划而新增发
行股权的除外。本权利自公司发生合格的首次公开发行时终止。
Preemptive Right & Co-sale Right 优先购买权和共同出售权 Until occurrence of Qualified IPO, if any Existing Shareholder of the Company other than Investors intends to transfer any part or all of its equity in the Company to any third party, each Investor shall (i) have a preemptive right and
(ii) be entitled to co-sale its shareholding of the Company on a pro-rata
basis.
在合格的首次公开发行前，如果投资人以外的任何现有股东拟出售其持有的公
司全部或部分股权，每一位投资人均
(i) 有优先购买权和
(ii)有权按届时其持股比例共同出售其持有的公司股权。
Preferred Dividend Right 优先分红权 The Company may determine payment of dividends from time to time in accordance to the Articles of Association, each of Investors has a
preferred dividend right to receive dividend prior to any other shareholders on a pro-rata basis.
公司根据公司章程有权决定是否分红，每一投资者均有权按照其持股比例优先
于其他股东取得相应的分红。
Preferred
Disposition
Right
处置权 Each of the Investors has a preferred right to transfer, sell or dispose of all or parts of its equity in the Company at its sole discretion at any time. 每一投资人均有权在任何时间依其独立判断优先地向第三方转让、出售或处置
其持有的全部或部分公司股权。
Information
Rights
信息披露 Until occurrence of Qualified IPO, the Company shall deliver, and the Actual Controllers shall cause the Company to deliver, to each of the Investors
(i) annual audited financial statements by no later than 90 days
following the end of its fiscal year, audited by an accounting firm
reasonably acceptable to the Investors,
(ii) quarterly unaudited financial statements (including balance sheet,
income statement and statement of cash flow) within 45 days following
the end of each quarter;
(iii) an annual operating plan and budget at least 30 days prior to the
first day of the year covered by such plan and budget, and (iv) any other
report or information reasonably required. In addition, the Investors
shall also be entitled to customary inspection and visitation rights.
All the financial statements must be prepared in accordance to Chinese GAAP.
合格的首次公开发行之前，公司应向（或实际控制人应促使公司）投资人提供下列信息：
1、在会计年度结束之后的90天内提供年度财务审计报告，该中介机构应经投资人认可，并应考虑节约审计成本；
2、每季度结束后45天内提供季度资产负债表，利润表，现金流量表；
3、在下一财务年度开始前的30天内提供下年度预算报告和业务计划；
4、其它合理所需信息和报告。
此外，投资人也有资格进行例行检查及行使探访权。
所有的财务报告必须根据中国的通用会计准则准备。
Lock-up Period 锁定期Within months from occurrence of Qualified IPO at domestic stock exchange or within months from occurrence of Qualified IPO at NASDAQ or any other internationally recognized stock exchanges, or within any other Lock-up Period formulated by relevant stock exchange and agreed and undertook by the people hereinafter (together the “Lock-up Period”), none o f Actual Controllers and family members thereof may sell any part of its equity in the Company. After the end of the Lock-up Period, as long as any of the Investors remain holding no less than % equity in the Company, neither Actual Controllers nor the family member thereof may sell more than % of his/her entire equity in the Company within any calendar year and in the aggregate, more than % of his/her entire equity in the Company.
The Equity interest hold by the Investors will not subject to lock-up period clause in any form, each of the Investors has a right to sell all or any of its shareholding to any third party at its sole discretion.
自在国内证券市场发生合格的首次公开发行起个月内或在纳斯达克或上文中提及的其他证券交易所发生合格的首次公开发行起个月内（简称“锁定期”），或在相关证券市场规定并由下文中提及的人员同意且承诺的锁定期内，实际控制人、核心管理层及他们各自的家庭成员均不得出售公司的任何股权。在锁定期结束后，只要任何一位机构投资人仍然持有公司 %以上的股权，实际控制人、管理层及他们各自的家庭成员在任何一个年度不得出售超过其持有的公司股权的%，并且累计不得超过其持有的公司股权的 %。
投资人所持有的股权不受任何形式的锁定期限制，任一投资人均有权依其独立判断向第三方转让其持有的全部或部分公司股权。
Anti-dilution Right
反稀释权Provided that the Company issues any Equity Securities at a price lower than the price Investors paid, the price Investors paid should be adjusted so that the after-adjusted price of shares hold by the Investors equals to that of the Equity Securities newly issued to the third party. Such right should not be exercised in circumstances of issuances of shares regarding ESOP.
如果公司发行的任何权益证券的价格低于投资人支付的购买价格，每一位投资人均有权在全面稀释的基础上对持股价格进行调整，以使得调整后的价格等于向第三方发行的新的权益证券的价格。但是根据员工股权激励计划发行的股权不在此限。
Fully Diluted Basis
全面稀释原则“Fully Diluted Basis” means, in determining the number of shares of the Company’s capital stock deemed to be outstanding as of any date of determination, that such determination assumes the conversion, exercise, issuance or exchange, as the case may be, of all Equity Securities that are then outstanding and are convertible, exercisable or exchangeable for the Company’s capital stock.
“Equity Securities” mean all of the Company’s issued and outstanding securities and all rights to acquire such securities, including but not limited to all outstanding warrants, options (whether allocated or unallocated, promised or un-promised, vested or unvested), or any other right granted to any third party to receive securities of the Company or anti-dilution rights of existing shareholders.
“充分稀释基础” 是指：假设公司已发行的所有可转换、可行权、可交易的权益证券均被全部转换、行权或交易，并在此基础上计算出公司已发行的权益证券的数量。
“权益证券”是指，所有已发行并流通在外的股权以及所有获取此股权的权利，包括但不限于发行在外的期证、选择权（无论是已分配还是未分配，承诺还是未承诺的，兑现还是未兑现），或授予第三方取得此类证券，或现有股东享有的反稀释权。
Redemption Right
赎回权If any of the following events occurs, each of the Investors shall have a right to require Actual Controllers to repurchase all or part of its equity in the Company on a pro-rata basis at a redemption price:
i. the Company does not achieve the Net Profit Guarantee
of or ;
ii. the Company does not take place a Qualified IPO by ;
iii. Actual Controllers has material credit problems, particularly, there’re off-balance-sheet sales revenue and expenses.
The Buyback Price shall equal to the Investment Amounts previously paid by each of the Investors plus financing cost based on %IRR (inclusive of cash dividends paid by the Company to the Investor). i.e. If an Investor requires Actual Controllers to buy back its equity in the Company after N years following the closing, the Buyback Price shall equal to Investment Amount multiplied （1+12%）n..
Besides aforementioned Buyback right, each of the Investors shall also have a right to sell their equity to any interested buyers except competitors of the Company, including any strategic investors. If there is more than one such interested buyer, the Investors will sell their shares to buyers with the highest bidding price on the terms and conditions satisfactory to the Investors.
To avoid doubt, each of the Investors has the right to transfer, sell or dispose of all or parts of its equity in the Company at its sole discretion at any time.
若发生如下任一情形，则每一位投资人有权利按其持股比例要求实际控制人以回购价回购投资人持有的部分或全部公司股权：
i. 公司未能实现年或年的业绩承诺;
ii. 公司未能在前未能实现合格的首次公开发行;
iii. 公司现有股东出现重大个人诚信问题，尤其是公司出现投资人不知情的账外现金销售收支时。
回购价等于该投资人支付的投资额加上每年%的内部收益回报率（包括公司已经向该投资人支付的现金分红）。即，如投资人要求实际控制人于第n年届满后回购其股权，则
除上文中提到的回购权外，投资人亦有权向任何有兴趣的买方（公司的竞争对手除外）出让股权，包括任何战略投资者；在不止一个有兴趣的买方的情况下，这些股份将按照令投资人满意的条款和条件出售给出价最高的买方。
为避免疑问，每一投资人均有权依照其独立判断转让、出售或处置其持有的全部或部分公司股权。
Liquidation Preference
优先清算权In the event of the “Deemed Liquidation”, each Investor shall be paid, prior and in preference to any shareholders of the Company other than Investors, an amount equal to the Purchase Price (the “Investors’ Preference”)．
After payment of the Investor’s Preference in full, all amounts, if any, available for distribution shall be distributed pro rata to the all existing shareholders of the Company.
Deemed Liquidation includes
(i) liquidation, dissolution, bankruptcy or winding up of the Company, (ii) consolidation, merger or transfer of the Company’s equity as a result of which there is a change of control,
(iii) sale, transfer or other disposition of all, or substantially all, assets of the Company, and (iv) exclusive transfer of all, or substantially all, intellectual property of the Company.
在“视为清算”发生时，投资人有权先于公司的其他股东获得相当于投资额的金额（简称“投资人的优先权”）。
在全额支付投资人的优先权后，如果还有剩余，则剩余应按比例分配给公司的全体股东。
“视为清算”包括
(i) 公司清算、解散、破产或结业,
(ii) 导致公司控制权发生变化的整合、合并或公司股权转让,
(iii) 出售、转让或以其它方式处置公司全部或几乎全部的资产
(iv) 排他性的转让公司全部或几乎全部的知识产权。
Protective Provisions
保护性条款The Company shall be prohibited from taking any of the following actions unless previously approved by its Board of Directors with the consent of the director appointed by the Investor:
1. Modification to the articles of association of the Company;
2. Dissolution, liquidation, acquisition, merger and restructuring of the Company;
3. Change of business line, expansion into non-core businesses and outbound overseas investment;
4. Transfer of all, or substantially or, assets of the Company;
5. Sale, transfer, license (other than a non-exclusive license granted in the ordinary course of business consistent with past practice) or other disposition of intellectual property of the Company;
6. Establishment of joint ventures, partnerships or subsidiaries;
7. IPO affairs, including choice of timing, venue, price and underwriter;
8. Any security offering, including equity and debt securities, but excluding bank loans;
9. Investments over RMB ;
10. Borrowings from any third party beyond annual planning, guarantee or collateral for any third party, and any action outside of the ordinary course of business that may cause material contingent liability;
11. Dividend of the Company;
12. Management incentive plan under which part of the equity of the Company will be granted to the management by issuing new shares;
13. Change of auditor, audit policy of the Company or its parent company.
未经董事会和投资人任命的董事同意，公司不得采取下列任何一项行动：
(i) 公司章程的修改；
(ii) 公司的解散、清算、收购、兼并及重组；
(iii) 公司经营业务范围的改变，在非主营业务领域的扩张或任何境外投资；
(iv) 公司出售全部或几乎全部资产；
(v) 对公司知识产权进行出售、转让、许可或其它处置；
(vi) 成立任何合资企业、合伙制企业、子公司；
(vii) 公司上市，包括时间、价格、地点和承销商的选择；
(viii) 任何证券的发行 (包括但不限于股权和债权类证券)，不包括银行贷款；
(ix) 境内超过元人民币的投资；
(x) 在年度计划外向第三方申请或进行借贷，任何为第三方提供保证或资产担保，以及其它可能产生或有负债的行为；
(xi) 公司的分红决定；
(xii) 通过增发新股来实施的管理层及员工的股权激励方案；
(xiii) 负责公司审计的会计师事务所的变动、公司审计政策的变动。
ESOP
员工股权激励计划The Company will carry out ESOP after the closing, in the manner that the Actual Controller transfers his/her shares to related employees. ESOP may be carried out in any other manner with the Investors’ prior consent.
公司将在本轮投资完成后实施员工股权激励计划，该计划将以实际控制人向公司员工转让股权的方式进行实施。经投资人事先书面同意，公司可采用其它的方式实施员工股权激励计划
Board of Directors
董事会The Board of Directors will be consisted of directors. The Investor shall have the right to appoint Director.
公司董事会将由名董事组成。其中，投资人有权任
命 名董事会成员。
Non-competition 竞业禁止 The Company shall enter into Non-Competition Agreement with major
management personnel and key technical staff under which, none of them may, during his employment period with the Company, work for other
companies part-time or engage in or assist other person in any business
that is competitive to the Company’s businesses, or may, within two
years after termination of his employment with the Company, work for any
companies whose businesses are related to the Company’s businesses.
Without prior written consent, none of the existing shareholders of the Company, may directly or indirectly establish or participate in establishing any entity whose business is identical, related or competitive to the Company’s business 公司应与公司主要管理人员、核心技术人员签订《竞业禁止协议》，在任职期间内不得在其他企业兼职，不得从事或帮助他人从事与公司形成竞争关系的任何其它业务经营活动，在离开公司2年内不得在与公司经营业务相关的企业任职；未经投资人书面同意，公司原股东不得直接或间接设立或参与设立新的与公司业务相同、相关联、相竞争的其他经营实体。 Employment
Contracts
员工合同
The Company shall try its best efforts to ensure each of the Key Employees of the Company enter into an employment contract of non less than three years that includes non-competition, non-disclosure, invention ownership clauses acceptable to the Investor. 公司应尽力促使公司的每一位关键员工和公司签订至少三年的劳动合同，并且该合同中的竞业禁止、保密以及发明归属条款必须为投资人所接受。 Expenses
费用 All costs and expenses reasonably incurred to the Investor relating to (1) financial due diligence by third party consultant,
(2) legal due diligence by third party attorneys, and
(3) drafting and reviewing Definitive Agreements by external lawyers
(collectively referred to as “Expenses”), shall be borne by the Company
if the Loan is consummated. Such Expenses are capped at
RMB (or RMB if the Definitive Agreements
need to be drafted in bilingual versions) and any exceess over the cap
will be born by the Investor.
If this transaction is not consummated due to any of the following
reasons, the Company shall bear the Expenses within the above cap:
(1) the Company decides not to pursue this transaction; or
(2) the Investor decides to give up the transaction due to inaccurate
or misleading information that the Company or its Actual Controller has
provided to the Investor or material legal obstacle found during the due diligence process that will stop the Company from Qualified IPO. If this transaction failed for reasons other than those listed above, the Investor shall bear the Expenses.
如果投资顺利完成，公司应承担投资者需支出的全部合理费用和花费，这些花费和费用包括：
（1）第三方财务尽职调查的费用，
（2）第三方法律尽职调查的费用，及
（3）外部律师起草及审核最终协议的费用（以下统称“费用”），但总额不超过人民币万元（或者人民币万，如果最终协议需要双语版本），超额部分由投资人承担。
如本交易由于下列任何一项原因没有完成，则公司应在上述总额范围内承担所有费用：
（1）公司决定放弃本交易，或
（2）由于公司和实际控制人提供的信息不真实或具有误导性或者在尽职调查中发现阻碍公司上市的实质性法律障碍而导致投资者放弃此交易。如果非上述原因造成本交易失败，投资者应承担费用。
No-shop 排他性The Company agrees that for a period of days following the execution of this Term Sheet provided that such period may be extended for an additional 30 days with the mutual consent of the Company and the Investor (the “No Shop Period”), neither the Holding Company, the Actual Controller, or the Company nor any agent thereof, directly or indirectly, will solicit, consider, negotiate or otherwise discuss a possible merger, sale or other disposition of a material asset of the Company, or an investment in its capital stock with, or transfer any equity of the Company to any other party, without the prior written consent of the Investor.
在本投资条款清单签署后的天内（在公司和投资人均同意的情况下，可以延长天（简称“排他期间”）），控股公司、实际控制人、公司或其代理均不得在未获得投资人的书面同意前直接或间接地邀请、考虑或以其它方式谈论可能的合并、出售或以其它方式处置公司的重要资产或公司进行股权融资，也不得出售公司的任何股权。
Definitive Agreement
最终协议As a condition to Closing of the transaction, the parties shall negotiate and enter into mutually acceptable detailed definitive agreements (the “Definitive Agreements”) incorporating the terms of this Term Sheet and other terms and conditions including, without limitation, representations and warranties, conditions to closing and indemnities
and other terms and conditions which are prevalent in transactions of this nature or as may be agreed by the parties.
作为本交易交割的条件，各方应协商讨论互相可接受的最终详尽协议（简称“最终协议”），最终协议应合并本投资条款清单中所列条款和其它条款及条件，包括但不限于：声明与保证，交割条件和赔偿，以及其它此类股权投资交易中的普遍条款和条件，或被双方认可的条款和条件。
Confidential 保密Except as required under any applicable law or stock exchange rules, the parties shall not disclose or reveal to any person any information relating to the terms and conditions (and existence) of this Term Sheet, the Investor’ proposed t ransaction, or the negotiations between the parties. The parties are aware that any unauthorized disclosure of the above information may have an adverse effect on the proposed transaction.
有关投资的条款和细则（包括此条款清单说明、投资人的投资建议以及双方谈判记录）均属保密信息，各方不得向任何第三方透露，除非任何现行法律或证券交易所另有规定。各方应意识到，任何未经授权的信息透露都可能会给交易带来负面影响。
Governing Law 适用法律The laws of China shall govern this Term Sheet and will govern the Definitive Agreements. Any dispute arising in relation to this Term Sheet or the Definitive Agreements shall be submitted to the SIAC for arbitration for award.
本条款及最终协议适用于中华人民共和国法律。任何由本条款，或与本股权投资相关的法律文件引起的争议或索赔将由上海国际仲裁中心仲裁。
Language 语言This Term Sheet is written in both Chinese and English. In case of any conflicts, the Chinese version shall prevail.
本投资条款以中文和英文拟就，中文和英文表述不一致的情况下，以中文表述为准。
Signature Pages to Follow
签字页附后
Signature Page/签字页
英飞尼迪创业投资中心（有限合伙）By:
Title:
Date: