EQUITY PLEDGE AGREEMENT Regarding [BEIJING YOUYUE HUDONG INFORMATION SCIENCE CO., LTD.]

Exhibit 4.60

EQUITY PLEDGE AGREEMENT

Regarding

[BEIJING YOUYUE HUDONG INFORMATION SCIENCE CO., LTD.]

By and among

[TAO LU]

[▇▇▇ ▇▇▇▇]

AND OTHERS

And

[BEIJING MIYUAN INFORMATION TECHNOLOGY CO., LTD.]

December 1, 2015

EQUITY PLEDGE AGREEMENT

This EQUITY PLEDGE AGREEMENT (this “Agreement”) is made on December 1, 2015 in [Beijing], the People’s Republic of China (“China” or “PRC”) by and among the following parties:

(1)             [ Tao LU ]

(2)             [ ▇▇▇ ▇▇▇▇ ]

(3)             [ ▇▇ ▇▇▇▇▇  ]

{The above individuals are hereinafter collectively referred to as the “Pledgors”, and individually as a “Pledgor”.)

(4)             [BEIJING MIYUAN INFORMATION TECHNOLOGY CO., LTD.] (the “Pledgee”)

Registered address: South of 04-00 & 01, ▇▇▇, ▇▇.▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇

Legal Representative:[ ▇▇▇▇▇▇ ▇▇▇▇▇ ]

(For the purpose of this Agreement, the above parties are hereinafter individually referred to as a “Party” and collectively as the “Parties”.)

WHEREAS:

(1)                                 The Pledgors are the registered shareholders of [Beijing Youyue Hudong Information Science Co., Ltd.] (registered address: [Building 2, ▇▇.▇▇ ▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ (No.22678, Fuhuaqi, National Advertising Industry Park)]; legal representative: [Tao LU]) (the “Company”), and legally hold all the equity interests in the Company (the “Equity Interests”)

(2)                                 Pursuant to the exclusive purchase option agreement entered into by and among the Pledgors, the Pledgee and the Company on December 1, 2015 (the “Purchase Option Agreement”), to the extent as allowed under the PRC laws, the Pledgors shall, upon request of the Pledgee, transfer to the Pledgee or any other entity or individual designated by the Pledgee all or part of the Equity Interests held by the Pledgors in the Company.

(3)                                 Pursuant to the shareholders’ voting rights entrustment agreement entered into by and among the Pledgee, the Company and the Pledgors on December 1, 2015 (the “Voting Rights Entrustment Agreement”), the Pledgors have entrusted the individual designated by the Pledgee with full authority to represent the Pledgors to exercise all of their voting rights enjoyed by the Pledgors as the shareholders of the Company.

(4)                                 Pursuant to an exclusive technology license and services agreement entered into by and between the Pledgee and the Company on December 1, 2015 (the “Services Agreement”), the Company has exclusively engaged the Pledgee to provide relevant consulting, technology support and other services to it and will pay the relevant fees for such license and services to the Pledgee.

(5)                                 In order to secure the performance of the Contractual Obligations (as defined below) and the repayment of the Secured Indebtedness (as defined below) by the Pledgors and the Company, the Pledgors agree to pledge all of their Equity Interests in the Company to the Pledgee and grant the Pledgee the first priority right of repayment.

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NOW, THEREFORE, upon friendly negotiations, the Parties hereby agree as follows:

ARTICLE I. DEFINITIONS

1.1                                        Unless otherwise provided according to the context, in this Agreement, the following terms shall have the meanings given below:

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1.2          Reference to any PRC Laws hereunder shall be deemed to include:

(1)            any amendments, changes, extensions and reenactment pertaining to such PRC Laws, whether the effective dates of which are prior to or after the date of this Agreement; and

(2)            any other decisions, notices and regulations promulgated in accordance with or taking effect as a result of such PRC Laws.

1.3                                           Unless otherwise provided in the context hereof, references to the articles and clauses in this Agreement shall mean the corresponding articles and clauses of this Agreement.

ARTICLE II. EQUITY PLEDGE

2.1             The Pledgors hereby agree to pledge the Pledges they legally own and have right to dispose of to the Pledgee in accordance with this Agreement, so as to secure the performance of the Contractual Obligations and the repayment of the Secured Indebtedness.

2.2             The Pledgors warrant that they shall record the equity pledge arrangement (the “Equity Pledge”) hereunder in the shareholder register of the Company on the execution date of this Agreement, provide the Pledgee with proof of the aforesaid records and the original of their capital contribution certificates in a form satisfactory to the Pledgee, and shall use their best endeavors to register such Equity Pledge with the industry and commerce registration authority in accordance with Article 2.3.

2.3             The Pledgors covenant that they will, within ten (10) working days after the execution of this Agreement, procure and cooperate with the Company to submit the application to the relevant industry and commerce registration authority for the pledge registration in relation to the Equity Pledge (the “Equity Pledge Registration”), and shall complete the Equity Pledge Registration within reasonable period of time to the extent as allowed under the relevant laws and policies.

2.4             In the event of any possible obvious decrease in the value of the Pledges, which is sufficient to detriment the rights of the Pledgee, the Pledgee may, at any time, require the Pledgors to provide additional security.  In the event that the Pledgors refuse to or are not able to provide such addition security, the Pledgee may represent the Pledgors to auction or sell off the Pledges, and to reach an agreement with the Pledgors to use the proceeds from the auction or sale for prepayment of the Secured Indebtedness or deliver the proceeds to a notary public at the place of the Pledgee for escrow (all expenses arising therefrom shall be borne by the Pledgors).

2.5             Where any Default Event occurs, the Pledgee shall be entitled to dispose of the Pledges in accordance with Article IV hereof.

2.6             Without prior consent of the Pledgee, the Pledgors shall not increase or reduce the registered capital of the Company.  The increased capital contribution due to the capital increase by the Pledgors shall be within the scope of the Pledges.

2.7             The Pledgee shall be entitled to receive the Pledgors’ equity dividends or dividends arising from the Pledges.

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ARTICLE III. RELEASE OF PLEDGE

3.                                            After the Pledgors and the Company sufficiently and fully perform all of their Contractual Obligations and pay off all the Secured Indebtedness, the Pledgee shall, upon the request of the Pledgors, release the pledge hereunder and cooperate with the Pledgors to de-register the Equity Pledge Registration made by the administrative authority of industry and commerce.  The reasonable expenses for release of the pledge shall be borne by the Pledgors.

ARTICLE IV. DISPOSAL OF THE PLEDGES

4.1                                        If the Pledgors know or shall know any Default Event occurred or any situations which may trigger any Default Event, the Pledgors shall immediately notify the Pledgee in writing.

4.2                                        The Pledgors and the Pledgee hereby agree that, in the event of any Default Event, the Pledgee shall, upon serving written notice to the Pledgors, have the right to exercise all rights and powers of remedies it is entitled to under PRC Laws, the Transaction Agreements and this Agreement, including but not limited to being repaid with first priority with the proceeds from the conversion of money with the Pledge, auction or sale of the Pledges or other manners. The Pledgee shall not be liable for any loss incurred due to its reasonable exercise of such rights and powers.

4.3                                        The Pledgee shall be entitled to appoint its lawyer or other representative in writing to exercise any and all of the above rights and powers, and the Pledgors shall not raise any objection to such arrangement.

4.4                                        All the reasonable expenses incurred by the Pledgee arising out of its exercise of any or all of the above rights and powers shall be borne by the Pledgors, and the Pledgee shall be entitled to deduct such actual expenses from the payment it obtains from its exercise of such rights and powers.

4.5                                        The payment the Pledgee obtains from its exercise of its rights and powers shall be used in the following orders:

Firstly, to pay all the expenses arising from the disposal of the Pledges and the Pledgee’s exercise of its rights and powers (including but not limited to court fees, legal fees and commissions to the agent);

Secondly, to pay taxes payable due to the disposal of the Pledges; and

Thirdly, to repay the Secured Indebtedness to the Pledgee.

In case there is any remaining amount after the above payments, the Pledgee shall return the remaining amount to the Pledgors or any other person who is entitled to such remaining amount according to laws and regulations, or deliver such remaining amount to a notary public at the place of the Pledgee for escrow (all expenses arising therefrom shall be borne by the Pledgors).

4.6                                        The Pledgee shall be entitled to elect to exercise any of its remedies simultaneously or successively.  The Pledgee shall not be obliged to exercise any other remedy prior to the exercise of the auction or sale of the Pledges hereunder.

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ARTICLE V. COST AND EXPENSES

5.                                            All actual expenses in relation to the creation of the Equity Pledge hereunder, including (but not limited to) stamp duty, any other taxes and all legal fees, shall be borne by the Pledgors.

ARTICLE VI. SUSTAINABILITY AND NO WAIVER

6.                                            The Equity Pledge created hereunder shall be a continuous security, the validity of which shall remain until the Contractual Obligations have been fully performed and the Secured Indebtedness has been fully repaid.  Any waiver or grace granted by the Pledgee to any default by the Pledgors or any delay of the Pledgee in exercising any of its rights under the Transaction Agreements or this Agreement shall not affect the Pledgee’s right under this Agreement and the relevant PRC Laws and the Transaction Agreements to request the Pledgors to strictly perform the Transaction Agreements and this Agreement at any time in the future, or any rights the Pledgee is entitled to due to any future violation of the Transaction Agreements and/or this Agreement by the Pledgors.

ARTICLE VII. REPRESENTATIONS AND WARRANTIES

The Pledgors hereby represent and warrant to the Pledgee as follows:

7.1                  The Pledgors are Chinese citizens with full civil capacity, full and independent legal status and legal capacity and duly authorization to execute, deliver and perform this Agreement, and may act as an eligible party to litigation independently.

7.2                  The Pledgors have the full power and authorization to execute and deliver this Agreement and all other documents relevant to the contemplated transaction hereunder to be executed by them, and to consummate the contemplated transaction hereunder. Resolutions to approve the Equity Pledge by the Pledgors pursuant to this Agreement have been adopted by the shareholders of the Company in accordance with the articles of association of the Company.

7.3                  All reports, documents and information with respect to the Pledgors and all the matters required by this Agreement, provided by the Pledgors to the Pledgee prior to the effectiveness of this Agreement, are true, accurate and effective in all material aspects as of the effective date of this Agreement.

7.4                  All reports, documents and information with respect to the Pledgors and all the matters required by this Agreement, provided by the Pledgors to the Pledgee after the effectiveness of this Agreement, are true, accurate and valid in all material aspects upon providing of such information.

7.5                  Upon effectiveness of this Agreement, the Pledgors are the sole legal owner of the Pledges, who have the right to dispose of the Pledges and any part thereof, and there is no existing dispute regarding the title of the Pledges.

7.6                  Except for the encumbrances created on the Pledges hereunder and the rights created under the Transaction Agreements, there is no any other encumbrance or third party right on the Pledges.

7.7                  The Pledges can be pledged and transferred according to law, and the Pledgors have the sufficient right and power to pledge the Pledges to the Pledgee in accordance with this Agreement.

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7.8                  Once duly executed by the Pledgors, this Agreement shall constitute legal, valid and binding obligations on the Pledgors.

7.9                  Any third party consent, permit, waiver, authorization or any governmental approval, permit, exemption or registration or filing procedures with any government authorities (if legally required) (excluding the Equity Pledge Registration procedures), which is required for the execution and performance of this Agreement and the Equity Pledge hereunder, has been obtained or completed, and will remain in full effect during the term of this Agreement.

7.10           The execution and performance of this Agreement by the Pledgors do not violate or conflict with any laws applicable to the Pledgors, any agreement to which the Pledgor is a party or binding upon the Pledgor’s assets, any court decision, any arbitration award or decision by any administrative authority.

7.11           The Equity Pledge hereunder shall constitute the first priority encumbrance on the Pledges.

7.12           There is no pending or, to the knowledge of the Pledgors, expected lawsuit, legal proceeding or claim against the Pledgors, its assets or the Pledges before any court or arbitral tribunal, nor is there any pending or, to the knowledge of the Pledgors, any expected lawsuit, legal proceeding or claim against the Pledgors, its assets or the Pledges before any government or administrative authority, which will have material or adverse impact on the economic conditions of the Pledgors or their capability to perform their obligations and the security liability hereunder

7.13           The Pledgors hereby warrant to the Pledgee that, under any circumstances prior to the full performance of the Contractual Obligations or the full repayment of the Secured Indebtedness, the above representations and warranties shall be true and accurate and shall be fully complied with.

ARTICLE VIII. COVENANTS OF THE PLEDGORS

The Pledgors hereby covenant to the Pledgee as follows:

8.1                  In order to realize the purposes of this Agreement, the Pledgors shall submit the application to the relevant industry and commerce registration authority for the Equity Pledge Registration in accordance with Article 2.3, and complete the Equity Pledge Registration within reasonable period of time to the extent as allowed under the relevant laws and policies and any other formalities required by laws and regulations for realization of the arrangement hereunder.

8.2                  Without prior written consent of the Pledgee, the Pledgors shall not create or allow to be created any new pledge or any other encumbrance on the Pledges.  Any pledge or other encumbrance created on all or part of the Pledges without prior written consent of the Pledgee shall be invalid.

8.3                  Without prior written notice to and prior written consent of the Pledgee, the Pledgors shall not transfer the Pledges and all contemplated transfer by the Pledgors shall be invalid.  The proceeds received by the Pledgors from such transfer shall be used for prepayment of the Secured Indebtedness or delivered to a third party agreed with the Pledgee for escrow.

8.4                  Where any lawsuit, arbitration or other claim occurs, which may have adverse effect on the Pledgors, the Pledgee’s interests under the Transaction Agreements or this Agreement or the Pledges, the Pledgors covenant that they shall promptly notify the Pledgee in writing as soon as practical and, upon reasonable request from the Pledgee, take all necessary measures to ensure the pledge interests of the Pledgee in the Pledges.

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8.5                  The Pledgors shall not use the Pledge to take or allow to be taken by others any conduct or event which may violate laws or this Agreement.

8.6                  The Pledgors further agree that, the rights acquired by the Pledgees hereunder shall not be interrupted or impaired by the Pledgors, any successor or representative of the Pledgors, or any other persons through legal proceedings.

8.7                  The Pledgors shall not take or allow to be taken any conduct or act which may have adverse effect on the Pledgee’s interests under the Transaction Agreements and this Agreement or the Pledges.

8.8                  The Pledgors hereby covenant to comply with and perform any guarantees, covenants, agreements, representations or conditions under the Transaction Agreements and this Agreement. If the Pledgors do not perform or fully perform such guarantees, covenants, agreements, representations or conditions, the Peldgors shall indemnify all the losses suffered therefrom by the Peldgee.

8.9                  The Pledgors covenant and will covenant to drive the other interested Parties, upon reasonable request from the Pledgee, to take all necessary measures to execute all necessary documents (including but not limited to supplementary agreements to this Agreement, any certificate of rights and contracts) and to facilitate the exercise of the rights and authorities granted to the Pledgee hereunder, so as to ensure the pledge right and interests of the Pledgee in the Pledges and the exercise and realization of such right.

8.10           In the event of any transfer of any Pledges as a result of the exercise of the pledge right hereunder, the Pledgors shall take all necessary measures to realize such transfer.

ARTICLE IX. CHANGE OF SITUATIONS

9.              As a supplement which shall not conflict with other provisions of the Transaction Agreements and/or this Agreement, if at any time the Pledgee believes the validity of this Agreement and/or the disposal of the Pledges in accordance with this Agreement becomes illegal or incompliant with such PRC Laws due to promulgation of any new PRC Laws or any change of the existing PRC Laws or construction or application thereof, or due to changes to the relevant registration procedures, the Pledgors shall, according to written instruction and upon reasonable request from the Pledgee, promptly take any measures and/or execute any agreement or other documents, so as to:

(1)                 maintain the validity of this Agreement;

(2)                 realize the disposal of the Pledges in accordance with this Agreement; and/or;

(3)                 maintain or realize the intent of this Agreement or the security created hereunder.

ARTICLE X. EFFECTIVENESS AND TERM OF THIS AGREEMENT

10.1                                This Agreement shall come into effect upon satisfaction of all the following conditions:

(1)             this Agreement has been duly executed by the Parties;

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(2)             the Equity Pledge hereunder has been recorded in the shareholder register of the Company according to law.

The Pledgors shall provide the evidence of the registration of such Equity Pledge in the said shareholder register to the Pledgee in the form to the satisfaction of the Pledgee.

10.2                                This Agreement shall remain in effect until the full performance of the Contractual Obligations and the full repayment of the Secured Indebtedness.

ARTICLE XI. NOTICE

11.1                                 All notices, requests, demands and other correspondences required by or in accordance with this Agreement shall be delivered to the relevant Party in writing.

11.2                                 The above notices or other correspondences shall be deemed to be properly delivered upon sending when delivered through fax or telegraph, upon delivered in person when personally delivered, or at the fifth (5th) day of mailing if sent by mail

ARTICLE XII. MISCELLANEOUS

12.1                                 Without the consent of the Pledgors and after serving notice to the Pledgors, the Pledgee may transfer any of its rights and/or obligations hereunder to any third party.  Without prior written consent of the Pledgee, the Pledgors shall not transfer any of its rights, obligations or liabilities hereunder to any third party.  The successor of the Pledgors or the approved transferee (if any) shall continue to perform the Pledgors’ obligations hereunder.

12.2                                 This Agreement shall be signed in Chinese, with seven [  ] originals.  The Parties shall retain one (1) original of this Agreement.  This Agreement can be signed in more originals for the purpose of registration and filing (if necessary).

12.3                                 The conclusion, validity, performance, amendment, interpretation and termination of this Agreement shall be governed by the laws of the People’s Republic of China.

12.4                                 Any dispute arising out of or relating to this Agreement shall be settled by the disputing Parties through consultation. In case the disputing Parties fail to reach an agreement within thirty (30) days of the dispute, such dispute may be submitted by any Party to the [  ] arbitration commission for arbitration by three arbitrators designated in accordance with the arbitration rules of such arbitration committee then in effect.  The arbitration award shall be final and binding upon the disputing Parties.

12.5                                 Any right, power and remedy granted to a Party under any provision of this Agreement shall not preclude any other right, power or remedy such Party is entitled to under any laws or regulations or any other provision of this Agreement.  The exercise of its right, power and remedy by a Party shall not preclude the exercise of any other right, power and remedy that such Party is entitled to.

12.6                                 Any Party’s failure or delay in exercising any of its right, power and remedy (“Such Rights”) under this Agreement or laws shall not result in a waiver of Such Rights, nor shall any single or partial waiver of any Such Right preclude any exercise of Such Right in other manner or the exercise of any other Such Rights by such Party.

12.7                                 The headings in this Agreement shall be for reference purpose only and shall not be used for or affect the construction of the Agreement in any event.

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12.8                                 Each provision of this Agreement shall be severable and independent of each of the other provision.  In the event that one or several provisions of this Agreement become invalid, illegal or unenforceable at any time, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected.

12.9                                 Any amendment or supplement to this Agreement shall be made in writing, and except that the Pledgee transfers its rights hereunder in accordance with Article 12.1, any amendment or supplement to this Agreement shall take effect after being duly executed by the Parties.

12.10                          Subject to Article 12.1 above, this Agreement shall be binding upon the legal successor of the Parties.

12.11                          Upon execution of this Agreement, the Pledgors shall execute a power of attorney (as set forth in Exhibit I attached hereto, the “Power of Attorney”), authorizing any person appointed by the Pledgee (the “Authorized Person”) to represent the Pledgors to execute any and all legal documents required for the exercise of the Pledgee’s rights hereunder according to this Agreement.  Such Power of Attorney shall be kept in the Pledgee’s custody, and where necessary, the Pledgee may submit such Power of Attorney to the relevant government authorities at any time.  Only when the Pledgee delivers written notice to the Pledgors requesting replacement of the Authorized Person, shall the Pledgors promptly revoke the authorization to the existing Authorized Person and authorize the Authorized Person otherwise appointed by the Pledgee to represent the Pledgors to execute any and all legal documents required for the exercise of the Pledgee’s rights hereunder according to this Agreement, and the new Power of Attorney, once executed, shall supersede the original Power of Attorney; except for the above circumstance, the Pledgors shall not revoke the Power of Attorney made to the Authorized Person.

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[Signature Page of the Equity Pledge Agreement]

IN WITNESS WHEREOF, this Equity Pledge Agreement has been duly executed by the Parties as of the date and at the place first above written.

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Exhibit I:

Form of Power of Attorney

I,                 , hereby irrevocably authorize [             ] to act as my authorized representative to execute all the necessary or useful legal documents relating to the exercise of the rights of [            ] under the Equity Pledge Agreement entered by the other relevant Parties and me, and to handle all the procedures of the industry and commerce registration relating to the equity pledge.

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