Exhibit 10.48
 
Agricultural Bank of China
Loan Certificate
 
Date: July 9, 2007
 
Applicant
 
Shenzhen BAK Battery Co., Ltd
 
ID card of the Applicant
 
73109958-5
             
Currency
 
RMB
 
Amount
 
20,000,000
             
Loan Term
 
From July 9, 2007 to January 25, 2010
     
Usage
 
Working Capital
     
Annual rate
 
6.237%
             
Reference Contract No.
 
81101200600001989
 
Reference Guaranty Contract No.
 
81901200600001462; 81902200600005528
             
Signature of Applicant
 
Stamp of Applicant
 
Signature of Agricultural Bank of China
 
Stamp of Agricultural Bank of China
                           
/s/ Xiangqian Li
           

The above loan has been approved to transfer to your account.
Lending Bank: (Stamp)

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