Exhibit 10.23

                            Equipment Lease Agreement

This Agreement is made and entered into on February  (2?),  2005 in Tai'an City,
People's Republic of China (hereinafter  referred to as "China"), by and between
the following parties:
Lessor:  Shandong Shengda Technology Co., Ltd (hereinafter referred to as "Party
A")
Legal address: North Tip of the Economy & Trade Corridor,  Xintai City. Shandong
Province
Legal representative: Chen Xiangzhi

Lessee:  Shandong Bangsheng Chemical Co., Ltd (hereinafter referred to as "Party
B")
Legal address: No. 342, Lingshan Street, Tai'an City
Legal representative: Xu Xiqing

WHEREAS:
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(1)  Party A is a company limited duly organized,  validly  existing and in good
     standing under the laws of the P.R.C;
(2)  Party B is a company duly organized,  validly existing and in good standing
     as a wholly foreign funded enterprise under the laws of the P.R.C;
(3)  Party B intends  to lease the  Equipment  owned by Party A from Party A for
     its industrial  production  and operation,  and Party A agrees to lease the
     relevant Equipment to Party B.

After friendly negotiation, in light of Party B's intention of leasing Equipment
owned  by  Party A  referred  to in  Article  1 of this  Agreement  (hereinafter
referred to as "the Leased  Equipment"),  the parties enter into an agreement as
follows:

Article 1   Name and Quantity of the Leased Equipment

For the detailed  information of the Leased Equipment,  see Attachment 1 of this
Agreement  for the  Evaluation  Report for the  Leased  Equipment  of  Shangdong
Shengda  Technology Co., Ltd issued by Tai'an  Zhongcheng  Limited Liability CPA
Firm on November 9, 2005.

Article 2   Lease Term

1.   The lease term is three years from the  effective  date of this  Agreement.
     Both  parties  irrevocably  agree that,  after the  expiration  date of the
     leasing  term,  Party B has the right to choose to extend the leasing  term
     for 3 more years,  within which the renting fee shall be  determined by the




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     two  parties  according  to the Rental  Evaluation  Report  provided  by an
     independent  certified  public  accountants'  firm  entrusted  by  the  two
     parties. However, the renting fee during the extended leasing term shall be
     maximumly 5% higher than that during the previous 3-year leasing term.
2.   Be that as it may otherwise  stipulated,  the two parties irrevocably agree
     that  Party B has the  right  to  terminate  this  Agreement  at any  time;
     however,  Party B  should  notify  Party A in  writing  with a  three-month
     advanced notice.

Article 3   Rental, Time and Mode of Rental Payment

1.   According to Attachment 1 of this Agreement, the parties hereby agree that,
     the rental under this Agreement is RMB one million six hundred and nineteen
     thousand  and two hundred  (1,619,200)  yuan per year.  If the actual lease
     term is less than one year,  Party B shall  pay the  rental  proportionally
     according to the actual lease term to Party A.
2.   The rental shall be transferred to the account  appointed by Party A within
     the  first  ten days of each  quarter  starting  from the  year  when  this
     Agreement comes into effect.

Article 4   Rights and Obligations of Party A

1.   Party A warrants handing over all the Leased Equipment to Party B that have
     not been delivered at the time and place according to this  Agreement,  and
     that the Leased  Equipment  are in good  condition  and can be used for the
     purposes agreed in the Agreement for the lease term.
2.   During the lease  term,  without  the consent of Party B, Party A shall not
     impede Party B from normally  using the Leased  Equipment by  transferring,
     sub*leasing,  mortgaging,  or other  harmful  ways.  If  Party B gives  its
     consent  to  Party A to  transfer  the  leased  equipment,  Party B has the
     priority to purchase under same conditions.
3.   Party A has the right to collect the appointed rental from Party B.

Article 5   Rights and Obligations of Party B

1.   Party B  warrants  paying  the  rental  to Party A in  accordance  with the
     appointed mode of payment and time limit.
2.   Party B warrants  using the Equipment in the  appointed  manner and for the
     appointed purposes. If there is no appointed usage of the Equipment,  Party
     B  warrants  using  the  Equipment  in  accordance  with the  nature of the
     equipment.
3.   During the lease  term,  Party B is  responsible  for the daily  repair and
     maintenance of the Leased Equipment, and the costs thereof.
4.   Party B warrants properly taking care of and using the Equipment.



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5.   Without having to get  permission  from Party A, Party B can improve or add
     other things to the Leased Equipment.
6.   During the lease term, all the proceedings  obtained from being  possessive
     or using the Leased Equipment shall belong to Party B.
7.   When the lease term  expires,  Party B shall  return all the  Equipment  to
     Party A.
8.   During the lease term, Party B has the right to sublease the Equipment to a
     third party  according to its actual needs,  whereas it shall warrants that
     such third party will abide by this Agreement and strictly  perform all the
     obligations on the part of Party B under this Agreement.
9.   Party  A  hereby  irrevocably   authorizes  Party  B  with  the  rights  of
     determining  to purchase  the  Equipment  on its own during the lease term.
     When  determining the purchase price of the Leased  Equipment,  the parties
     shall jointly appoint an impartial a certified public  accountants' firm to
     evaluate the market price of the Leased  Equipment.  The evaluation  result
     shall be the purchase price of the Leased Equipment.

Article 6   Amendment and Termination of the Agreement

1.   Amendments to this Agreement shall be made by both parties in written form,
     and  come  into  effect  after  being  signed  and  sealed  by   authorized
     representatives from both parties.
2.   Party B has the right to  terminate  this  Agreement  at any  time,  but it
     should inform Party A of the intention of terminating  this Agreement three
     months in advance.

Article 7   Liabilities for Breach of Contract

1.   If Party B fails or delays to pay the  rental  without  any  justification,
     Party A can request the rental be paid in a reasonable  period of time.  If
     Party B does not pay the rental after the time limit, Party A has the right
     to collect the fine for breach of contract  from Party B amounting to three
     per ten thousand of the unpaid amount per day.
2.   If Party A assigns this Agreement  without  consulting Party B, Party B has
     the right to demand Party A to bear all the reasonable  responsibilities to
     restitute  the  leased  equipment  to  the  original  condition  and  /  or
     compensate Party B for its losses resulting from this.
3.   Each party shall  compensate  the other for the losses  resulting  from its
     failure to perform or breach any article of this Agreement.

Article 8   Settlement of Disputes

All the disputes  arising out of or related to this Agreement shall be submitted
to Beijing-based China International  Economic and Trade Arbitration  Committee,



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and be arbitrated  by the rules  effective at the time of the  arbitration.  The
arbitration award shall be final and shall have binding effect on both parties.

Article 9   Exception Clause

If the  Equipment  are  partly or totally  destroyed  or lost as a result of the
events that cannot be  attributed to Party B, Party B can demand for a deduction
of, or  exemption  of the  rental.  If the  purpose of the  Agreement  cannot be
realized as the Equipment are partly or totally  destroyed or lost,  Party B can
terminate  the  Agreement,  and do not  need to  bear  the  liabilities  induced
thereof.

Article 10   Miscellaneous

1.   For  anything  that is not  covered  in this  Agreement,  according  to the
     relevant  provisions of the Contract Law of PRC, the parties can enter into
     a supplemental  agreement  after friendly  negotiations.  The  supplemental
     agreement  shall be an  integral  part of this  Agreement  and has the same
     legal effect as this Agreement.
2.   This Agreement shall become  effective after being signed and sealed by the
     authorized representatives from both parties.
3.   This  Agreement is made in duplicate.  Each party shall keep one copy which
     has the same legal effect.


IN WITNESS  WHEREOF,  the  undersigned  have  hereunto  set their  hands to this
Agreement in Tai'an City, PRC as of the day and year first above written.











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                                 Signature Page

                             (no text on this page)


Shandong Shengda Technology Co., Ltd
Legal representative: /s/ Chen Xiangzhi
                     (signature)


Shandong Bangsheng Chemical Co., Ltd
Legal representative:   /s/  Xu Xiqing
                      (signature)





















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