EXHIBIT
10.12


 


[English Translation]


 


LOAN AGREEMENT


 


This loan agreement (this “Agreement”), dated
as of September 22, 2009, is entered into by the following parties in
Shenzhen, Guangdong:


 


Party A:                                                   Yi Li, male, citizen of the People’s
Republic of China, ID No.: 440301196906023818


 


Address:               24-504, Duqian Village, Futian
District, Shenzhen, Guangdong


 


Party B:                                                     Shenzhen Trony Science and Technology
Development Co., Ltd., a limited liability company duly established and validly
existing under the laws of the People’s Republic of China


 


Address:               East 5/F, East 8/F, Bldg 2,
Guangxian Estate, Bagua 3rd road, Futian District, Shenzhen


 


WHEREAS, Party B has applied to Party A for a loan
facility to meet the requirements of capital turnover on June 2006, and
based on an oral agreement between the parties, Party A has agreed to make and
already made such loan to Party B.


 


NOW, THEREFORE, in order to standardize the form of
agreement and define the rights and obligations of the parties, Party A and
Party B agree to enter into this agreement through consultation in accordance
with the relevant laws and regulations:


 


1.                                      Amount of Loan: Renminbi Thirty Six
Million Nine Hundred and Fourteen Thousand Yuan (RMB36,914,000).


 


2.                                      Term of Loan: no fixed term, i.e., Party
B shall repay the loan as requested by Party A from time to time.


 


3.                                      No interest shall accrue on the loan.
Party B is not required to provide any form of guarantee.


 


4.                                      Party B shall guarantee that it will
repay the principal of the loan in a timely manner upon request of repayment by
Party A. To the extent allowed by capital turnover, Party B may make
prepayments to Party A.


 


5.                                      Any matter not addressed herein shall be
separately resolved by Party A and Party B through friendly consultation.


 

















 


6.                                      The formulation, validity,
interpretation, performance and dispute resolution of this Agreement shall be
governed by the laws of the People’s Republic of China.


 


7.                                      Any dispute arising out of or in
connection with this Agreement shall be settled by the parties through friendly
consultation. If no settlement can be reached through such consultation or one
party is unwilling to settle such dispute through consultation, either party
may submit such dispute to a court of competent jurisdiction for resolution.


 


8.                                      This Agreement shall become effective on
July 1, 2006.


 


9.                                      This Agreement shall be written in
Chinese in two (2) copies with each of the parties holding one
(1) copy, and the two copies shall have equal validity.


 


(END OF TEXT)


 

















 


(SIGNATURE PAGE WITH NO
TEXT)


 


 


Party A: Yi Li


 


(By):


 


 


Party B: Shenzhen Trony Science and Technology
Development Co., Ltd. (Corporate Seal)


 


(By) Legal/Authorized
Representative: