Item 1.01 Entry into a Material Definitive Agreement.

As previously reported on a Current Report on Form 8-K that was filed with the Securities and Exchange Commission on November 21, 2019, AIlife International Investment Co., Ltd. ("AIlife," formerly known as "Ilife International Investment Co., Ltd."), a wholly-owned subsidiary of China United Insurance Service, Inc. (the "Company"), Cyun-Jhan Enterprise Co., Ltd. ("Cyun-Jhan"), and Jian-Zao International Industrial Co., Ltd. ("Jian-Zao" and, collectively with AIlife and Cyun-Jhan, the "Parties"), entered into a Joint Venture Agreement (the "JV Agreement") on November 15, 2019, pursuant to which the Parties jointly established, invested funds, human resources and technology into Uniwill Insurance Broker Co., Ltd. ( the "JV"), a currently wholly-owned subsidiary of AIlife, which, subject to obtaining the necessary regulatory approvals, would operate the life insurance and property insurance brokerage business.

On March 3, 2021, the Parties entered into an amendment to the JV Agreement (the "Amendment"), pursuant to which AIlife shall fulfill the paid-up capital obligation in the aggregate amount of NT$400 million (the "Total Cash Contribution") during a period of eight (8) years (the "Period") from November 15, 2019, the date of the JV Agreement, provided that the number of the registered sales agents of the JV exceeds 1,000 and the cumulative revenue of the JV reaches NT$8.7 billion (the "Revenue Threshold") within the Period. Subject to the terms of the Amendment and JV Agreement, in the event that the JV fails to reach the Revenue Threshold within the Period, AIlife shall only be obligated to make cash contributions through the Period to the JV in the aggregate amount (the "Total Adjusted Cash Contribution") calculated as follows:

The Total Adjusted Cash Contribution= (the actual cumulated revenue of the JV during the Period/ NT$8.7 billion)* NT$400 million.

The foregoing description of the Amendment is qualified by reference to the full text of the translation copy of the Amendment to the JV Agreement, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits



Exhibit
Number     Description
  10.1       A translation copy of the Amendment to the JV Agreement dated March 3,
           2021 by and among AIlife International Investment Co., Ltd. (formerly
           known as "Ilife International Investment Co., Ltd."), Cyun-Jhan
           Enterprise Co., Ltd. and Jian-Zao International Industrial Co., Ltd.

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