Pugui Travel · Co-Creation Convention

This Convention is a binding agreement between Pugui Travel ("the Platform") and supporters participating in Old-House Co-Creation Projects ("Co-Creators" or "Keepers"). The core principle is "de-financialization" — what Co-Creators receive are consumption rights (exclusive stay rights + eco-points), not financial returns, equity, or guarantees of any kind. This Convention is established in accordance with the Civil Code of the People's Republic of China, the Law of the People's Republic of China on the Protection of Consumer Rights and Interests, the E-Commerce Law of the People's Republic of China, and other applicable laws and regulations.

2.1 Consumption Pre-sale: Co-Creators pre-pay consumption value in exchange for future stay rights and eco-points at a designated resort. This is a consumption contract, NOT an investment, loan, or equity subscription. 2.2 Stay Rights: The right to stay at designated room types for free during the agreed period. Stay rights may not be transferred separately, are non-redeemable for cash, and are non-refundable (except as provided in Article 5); where a Co-Creator transfers the benefit share under Article 5.3, the corresponding stay rights transfer together with it. 2.3 Eco-Points: Consumption-subsidy points awarded to promote rural community spending and ecological activity, calculated on the project's overall operational activity level (non-revenue indicators such as community spending activity, ecological event participation, and member visit and experience frequency) and the Co-Creator's benefit share. Points can be used for room discounts, workshop bookings, dining and local rural produce, etc. at any Pugui property. Points are not linked to project net profit, return on investment or any operating revenue, carry no monetary, securities or investment-return character, cannot be withdrawn or redeemed for cash, have no cash buy-back channel whatsoever, and are non-transferable. Point awards relate solely to the non-revenue activity indicators described above and the benefit share proportion, and the calculation method is published in advance as a fixed formula; points may only be used to offset the price of goods or services provided by the Platform, and are not convertible into cash and generate no financial return whatsoever. 2.4 Benefit Share: The percentage of consumption rights a Co-Creator holds in a given project, determined at the time of participation, used to calculate monthly eco-point awards and annual free stay days. This percentage is solely a proportion of consumption entitlements and does not constitute equity, securities, fund units, partnership interests or any financial product; the Co-Creator does not thereby obtain management rights or voting rights in the project, nor participate in project profit distribution. The project's external description of entitlements is governed by the stay days and consumption amount set out in this Convention. This percentage may not be used to raise funds from the public, for public promotion, or as a selling point to solicit others to participate. 2.5 Skill Swap: Professional skills (design, development, photography, operations, etc.) exchanged for equivalent consumption value and benefit share. Skill value is assessed through mutual agreement between the Platform and the Co-Creator.

3.1 Consumption Pre-sale Participation: Co-Creator pays a lump sum (CNY) to acquire benefit share in the project. The participation amount range is explained to prospective Co-Creators on a one-to-one basis before the agreement is signed. 3.2 Skill Swap Participation: Co-Creator submits a professional skills proposal. After Platform assessment, the equivalent benefit share is determined. No cash payment is involved; a Skill Swap Agreement must be signed. 3.3 Process: (a) Receive a one-to-one project introduction from the Platform and choose a participation type → (b) Submit interest → (c) Platform conducts alignment interview → (d) Both parties confirm benefit share and sign electronic agreement → (e) Co-Creator pays (Consumption Pre-sale) or submits skills proposal (Skill Swap) → (f) Rights take effect.

4.1 Stay Rights: Co-Creators enjoy annual free stay days proportional to their benefit share. Stays can be split across multiple visits with minimum 7 days advance booking. Rights are valid during the project's operational period, commencing when the project enters "In Operation" status. 4.2 Eco-Points: Awarded monthly by the Platform based on the project's overall operational activity level (non-revenue indicators such as community spending activity, ecological event participation, and member visit and experience frequency), calculated automatically in proportion to the Co-Creator's benefit share. The basis and criteria for award are published in advance and are not linked to project net profit or operating revenue. Points are credited within 5 business days of the following month. Valid for 36 months from issuance; unused points are not convertible into cash upon expiry. Points are personal to the Co-Creator and do not transfer automatically with the benefit share; after a transfer, points accruing to the transferee from the date the registration is completed shall be determined anew by the Platform on the basis of the remaining term. 4.3 Honorary Keeper Status: Pugui Club membership card upgrades to limited-edition "Honorary Keeper" design with exclusive service access. 4.4 Right to Information: Co-Creators have the right to view monthly operational data (ecological event sessions and attendance, member visit and experience frequency, point award details, and confirmation that pre-payments are used for the agreed purposes) via the Keeper Dashboard, published by the 5th of each month.

5.1 Cooling-off Period and Seven-day No-reason Refund: Within 7 calendar days of payment, Co-Creators may withdraw without cause, unless, at the time of entering into this Convention, the Co-Creator had already obtained the same goods or services from the Platform or another business operator. The Platform will refund 100 percent of the paid amount within 15 business days of receiving the request. Where the Platform offers a term more favourable to the Co-Creator in respect of no-reason refunds, that term shall prevail. This paragraph is without prejudice to any other rights the Co-Creator enjoys under law. 5.2 Pre-operation Exit: If the project fails to reach "In Operation" status within 12 months of the Co-Creator's participation, the Co-Creator may withdraw. The Platform will refund 100% of the paid amount, less the market-value equivalent of any used stay days. 5.3 Post-operation Exit: After the project enters "In Operation" status, a Co-Creator may transfer the benefit share to a third party, and may not carry out a mark-up transfer by way of public listing, matching, bidding or solicitation to unspecified persons; the Co-Creator shall complete the transferee real-name registration and change-of-name formalities as required by the Platform. The Platform shall respond within 7 business days of receiving the application and may not refuse or attach unreasonable conditions except on justified grounds such as verifying the transferee identity or preventing transfer to a party without capacity to perform, and the review criteria shall be published in writing in advance. A transfer becomes effective against the Platform when the Co-Creator or the transferee notifies the Platform in writing of the transfer; if the Platform fails to reply within 7 business days, it shall be deemed to have consented and shall cooperate in completing the change-of-name formalities. The Platform neither provides nor recognises any public listing, matching, bidding, nominee holding or brokerage channel for transfers; conduct that evades this Article by mark-up resale, split transfer or nominee holding shall be governed by Article 6.5. What this Article prohibits is mark-up transfer by way of public listing, matching, bidding or solicitation to unspecified persons; for a private transfer lawfully conducted between Co-Creators, the Platform may not refuse to complete the change of name merely on the ground that a reasonable premium exists. Where a Co-Creator exits due to a breach by the Platform, the Co-Creator is entitled to a pro-rata refund based on the remaining operational period. Apart from these circumstances, an exit under Article 9, and circumstances where the law permits rescission of the contract, a Co-Creator who voluntarily exits may not demand buyback or refund from the Platform, and earned eco-points are non-refundable. 5.4 Platform Termination: In case of force majeure or Platform-caused project termination, the Platform will refund a pro-rata portion based on remaining operational period and settle outstanding points.

6.1 Participation under this Convention constitutes a consumption activity, NOT an investment, financing, or financial activity regulated under the Securities Law of the People's Republic of China or the Law of the People's Republic of China on Banking Regulation and Supervision. 6.2 Co-Creators should fully understand that eco-points are a consumption-subsidy entitlement; the number awarded fluctuates with the overall operational activity level of the project, and the possibility of zero or below-expected awards exists. The Platform makes no commitment or guarantee regarding minimum point awards. Points carry no investment-return character, and Co-Creators should not make participation decisions based on expectations about the number or value of points. 6.3 The market value of stay rights may fluctuate due to market conditions, project performance, and other factors. The Platform does not guarantee the market value of stay rights. 6.4 The Platform strongly advises: participate rationally based on your financial situation. Pre-sale payments should come from discretionary funds, not borrowed money. 6.5 The Platform prohibits any form of benefit-share speculation, rights scalping or similar conduct that disrupts the project, including but not limited to mark-up transfer by way of public listing, matching, bidding or solicitation to unspecified persons, split transfer, and nominee holding or brokerage intended to evade the transfer procedure under Article 5.3; a transfer carried out under the procedure set out in Article 5.3 does not fall within this prohibition. Where the Platform identifies a suspected violation, it will notify the Co-Creator in writing and grant no fewer than 7 days to explain and remedy. If the violation is verified, serious, and remains uncorrected after two written warnings, the Platform may terminate the participation and the consumption contract relationship of the Co-Creator under this Convention. Any such determination shall be made in writing, stating the specific facts, the provisions of this Convention relied upon and the supporting evidence; a Co-Creator who disagrees may submit a written objection and pursue resolution in accordance with law. Any refund after termination shall be calculated on the same basis as Article 5.4, namely the unused portion of the pre-payment refunded pro-rata based on the remaining operational period; the Platform may claim compensation for actual losses caused by the violation, and may deduct the consideration corresponding to stay rights already used and eco-points already issued. This clause does not affect the rights of the Co-Creator under law to rescind the contract or to request a refund of the pre-payment. The Platform shall not, under this clause, confiscate the entire consideration already paid by the Co-Creator.

The Platform will collect, use, and protect Co-Creator personal information in accordance with the Pugui Travel Privacy Policy. Co-Creator rights data (benefit share, points, stay records) is stored encrypted and will not be disclosed to third parties without authorization. Monthly operational data will be published to all Co-Creators with personally identifiable information redacted.

This Convention is governed by the laws of the People's Republic of China. Any dispute arising from or in connection with this Convention shall first be resolved through friendly negotiation; if negotiation fails, either party may bring a lawsuit before a competent people's court in accordance with law, and the parties may also agree in writing on the court with jurisdiction. Where the Platform agrees with the Co-Creator on the court with jurisdiction, the Platform shall draw the Co-Creator's attention to it in a prominent manner and shall explain it.

This Convention takes effect upon publication. The Platform may revise this Convention in accordance with changes in laws and regulations or business needs. Where a revision involves substantive matters such as the principal rights and obligations of Co-Creators, fees or the content of services, the Platform shall publish the revision on the Platform website no fewer than 30 days in advance and notify Co-Creators in a prominent manner; a Co-Creator who does not agree may exit without liability during that period, and the Platform shall refund the corresponding pre-payment pro-rata on the basis of the remaining operational period over the entire operational period. No revision may diminish the rights a Co-Creator already enjoys under this Convention or under law; the Platform may not unilaterally change the substantive content of this Convention without the express consent of the Co-Creator, nor treat the Co-Creator's continued participation as consent to the revision.