This Loan Agreement is made on 15 April, between TONG Kun Chi ("Lender") and LI Ting

Hei ("Borrower").

Recitals

WHEREAS, the parties hereby acknowledge the following:

(1) The Lender advanced a sum of $15,000 to the Borrower between 31 March 2024 and 1
April 2024.

(2) Upon request of the Borrower, the Lender agreed to advance a further sum of $25,000 to
the Borrower between 15 April 2024 and 17 April 2024.

(3) For the purposes of simplicity and clarity in this Agreement, the total loan outstanding,
amounting to $40,000, is deemed to have been advanced on 15 April 2024, which shall be the
subject matter of this Agreement.

NOW, THEREFORE, in consideration of the premises and mutual covenants contained

herein, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties agree as follows:

Terms and Conditions

1. Loan Amount:
The Lender has loaned the Borrower a total principal amount of HK$40,000 (Forty Thousand
Hong Kong Dollars), as outlined in the recitals.

2. Purpose of Loan:
The Borrower shall use the loan exclusively for repayment of his existing debts owed to third
parties.

3. Repayment Terms:
The Borrower agrees to repay the principal amount along with the interest under the
following schedule:
 Initial Repayments: Monthly payments of $1,000 for the first four months following the
disbursement of the loan amount, commencing from 15th May 2024.
 Subsequent Repayments: Monthly payments of $2,800 for the next fourteen months,
ending on 15th October 2025.
 Total Repayment Amount: The total amount repaid by the end of the loan term will be
$43,200, inclusive of principal and interest.
The Borrower shall make each instalment payment by the 15 th of each corresponding
month.

4. Interest Rate:
The effective annual interest rate for this loan is calculated to be approximately 8%,
reflecting the true cost of borrowing based on the specific repayment schedule.

5. Prepayment:
The Borrower may prepay the loan in full or in part at any time without penalty, with
prepayment applied first to outstanding interest, then to principal.
6. Late Payment:
In the event any payment due is more than 3 (three) days late, a late fee of HK$1000 will be
incurred for each month the payment remains in arrears.

7. Default:
The Lender may demand immediate payment of the entire remaining loan balance, including
accrued interest and fees, upon default by the Borrower. The Borrower defaults in the event
of any one of the following occurs:
(a) Non-Payment: The Borrower fails to make any payment of principal or interest on the
due date as specified in the Repayment Terms section and such failure continues for a
period of 14 days beyond the due date.
(b) Unpermitted borrowing: The Borrower borrows any new loans from any third parties
without the prior written consent of the Lender
(c) Cross-Default: The Borrower defaults under any other loan, extension of credit, or
financial obligation that might materially affect the Borrower’s ability to perform
obligations under this Agreement.

8. Governing Law:
This agreement is governed by the laws of Hong Kong.

9. Amendments:
Amendments to this agreement must be in writing and signed by both parties.

10. Assent:
The Borrower confirms his agreement to the above terms by replying to this message, ‘I
agree to this Loan Agreement” or other phrases to this effect.