China TMK Battery Systems Inc.: Exhibit 10.23 - Prepared by TNT
   Filings Inc.






Exhibit 10.23 

(English Translation) 

Realty Lease Contract  

 

	The Lessor (Party A): 	Shenzhen Yijiayang Industrial Co.,
      Ltd. 
	Address: 	Sanlian, Baoan district, Shenzhen
    
	  	  
	  	  
	  	  
	The Lessee (Party B): 	Shenzhen TMK Power Industries
      Ltd. 
	Address: 	SanJun Industrial Park, HuaWang Road,
      Dalang, 
	  	Longhua Town, Shenzhen, 518109,
      China 






This realty lease contract is entered into by and between Party
A and Party B based on “China Contract Law”, “China Real Estate Administrative
Law”, “Shenzhen Special Economic Zone House Leasing Act” and their implementing
regulations. In consideration of the mutual covenants and agreements herein
contained, it is agreed by and between the lessor and the lessee as follows:


Article 1 Party A leases the whole plant building (total
four floors) and accompanied employee dorm (total five floors) located at
YiJiaYa Industry Park, HuaWang Road, Dalang, Longhua Town, Shenzhen (hereafter
referred to as “leased realty”) to Party B. The total area of the leased realty
is 9600m2. 

Article 2 The leasing price is 130,000RMB. Party B shall
make the full payment for whole year at the year beginning, otherwise Party A
hold the right to terminate the contract without approval from Party B. If Party
B is willing to make one payment for the full-year, Party A shall offer the
discount that the one-year full payment is only 1,300,00RMB. 

Article 3 Party B shall make the 2009 one-year full
payment of 1,300,000RMB before January 5th, 2009, 2010 one-year full
payment of 1,300,000RMB before January 5th, 2010, 2011 one-year full
payment of 1,300,000RMB before January 5th, 2011. 

Article 4 If Party B does not make the annual payment on
time, Party A is entitled to terminate water and electricity without liability
to any costs incurred. In such case, Party A also holds the right to terminate
the lease contract and apply for lawsuit at the Shenzhen Baoan Court without
liability to the arising losses and lawsuit fees which shall be born by Party B.


Article 5 The lease term is from January 1st,
2009 to December 31st, 2011. The above term shall not cover beyond
the land use period, otherwise, the period beyond the expiry of the land use
period shall be deemed as invalid. Any losses arising from the excessive period
shall be handled by the parties’ agreement; if no such agreement exists, the
said losses shall be born by Party A. 

Article 6 The leased realty is used to produce Nickel
Metal Hydride (“Ni-MH”) batteries. Party B shall fully coordinate with Party A
to apply for fire permission and property certificate. Should Party B wish to
change the above use of the leased realty, it shall attain written permission of
Party A in advance. Prior to change, Party B shall also apply to the property
administration department for change the use. 

Article 7 Party A shall deliver the leased realty to
Party B and go through the transfer process by January 25th, 2009.
Should Party A fails to deliver the leased realty to Party B on time, Party B
has the right to request to extend the validity period of the contract
accordingly. 

Article 8 When handing over the leased realty, both
parties shall confirm its conditions and its ancillary facilities and
appliances, and attach a list to the contract. 

Article 9 Party A may acquire 300,000RMB as a deposit
after both parties signing the lease contract. Party A shall provide a receipt
to Party B upon receiving a rent deposit from Party B. 

Only under all of the following
circumstances shall Party A refund the deposit to Party B: 

1. at the time when this contract
expires, water, electricity and lease payment have been paid off. 




2. at the time when the leased realty
is restored to original conditions and Party A has accepted the restoration.
Reasonable natural wear and tear is permitted. 

Under the following circumstances, Party A will not refund the
deposit to Party B: 

1. at the time when this contract
expires, the water and electricity expense, contract breach penalty,
compensation has not been paid off. 

2. at the time when this contract
expires, the leased realty is not returned back to the Party A. 

Article 10 During the lease period, Party B shall pay
the water and electricity expenses, sanitation fees, property management fees,
tax fee related to realty lease contract and other fees arising from the use of
property. 

Article 11 Party A shall ensure that the property, its
ancillary facilities and appliances meet the requirements of the lease, and
shall guarantee that the security system in place comply with all relevant laws
and regulations. Party A does not hold the liability to any losses of Party B
arising from natural disasters. 

Article 12 Party B shall use the leased realty and
ancillary facilities property appropriately. No illegal act is allowed in the
leased realty. Party A shall not interrupt Party B for the normal and reasonable
use of the leased realty. 

Article 13 Party B shall bear operation and maintenance
costs of the elevator (weight 3 tons) installed by Party A and ensure the
elevator to operate in good state at the time when this contract expires. Party
A shall install 315KVA transmission. 

Article 14 If due to Party B’s improper or unreasonable
use, there is any damage or failure of the leased realty and its ancillary
facilities, Party B shall promptly notify Party A and repair on its own cost or
make compensation to Party A. If Party B refuses to carry out the repair work or
to compensate, Party A could repair it by registry by registration office in
advance and the maintenance fees shall be born by Party B. 

Article 15 During the lease term, Party A and Party B
shall sign a separate written agreement in case of any reconstruction, extension
or decoration of the leased realty by any party. 

If such case, extension or decoration is subject to the
approval of related administration, such approval shall be attained in advance.


Article 16 Party B is not allowed to sublease part or
all of the leased realty to third party. However, with Party A’s written
consents, Party B could register the sublease to the registration office, and
the sublease term shall not exceed the term of this contract. 

Article 17 During the lease term, Party A may transfer
part or all of the leased realty. In such case, Party A shall inform Party B, in
writing, one month in advance. In case the leased realty has to be transferred,
Party A shall inform the transferee to continue to perform this contract. 

Article 18 During the lease term, the contract will be
discharged or modified under the following circumstances: 

1. due to force majeure, the contract
could not be carried out; 

2. due to government requisition,
purchase, withdrawal or demolishment; 

3. due to the mutual agreement of both
parties. 




Article 19 Should Party B perform any of the following
acts, Party A has the right to require compensation from Party B, to not refund
the lease deposit, and to require Party B to pay liquidated damage. 

1. delays rent payment for more than 30
days (one month); 

2. delays payment of fees equal to or
greater than 130,000RMB; 

3. conducts illegal activities in the
leased realty that harm the public or others; 

4. changes the structure or the use of
the property without permission; 

5. fails to perform the duty under
Article 14 of this contract, and does not carry out the repair work or pay the
maintenance fee , resulting in serious damage to the leased realty; 

6. decorates the leased realty without
the permission of Party A and the relevant administrative departments; 

7. sublets the leased realty to a third
party without the permission of Party A. 

Party B shall be responsible for damages or breach of contract,
and besides, under the above circumstances, Party A has the right to terminate
the contract or modify the terms and conditions. 

In case term 1 and 2 abovementioned be breached, Party A has
the right to cut off water and electricity in addition to require Party B to
bear losses and penalties. 

Article 20 Party B shall move out of the leased realty
and return it to Party A within ten days after the termination of this contract.
Party B shall ensure that the leased realty and its ancillary facilities and
appliances are in good state (except for normal wear and tear.) At the same
time, Party B shall settle down all the payments of fees and go through all
transfer processes. Should Party B delay moving out or returning the leased
realty, Party A has the right to reprocess the leased realty and charge double
rent. 

Article 21 Should Party B wish to continue leasing the
realty after the expiration of the contract, it shall propose to renew the
contract two months before the expiration date. Party B has priority to lease
the realty under the same conditions. When both parties agree to the renewal of
the contract, a new lease contract shall be signed and registered at the
registration office. 

Article 22 Both parties shall abide to all terms listed
in this contract. Any party who breaches the contract shall be liable for it.


Article 23 Any issue that has not been clarified in the
contract shall be set forth in attachments which will act as part of this
contract and have the same effect after signed by both parties. In case Party A
and Party B have agreed to modify the contract during the lease term, the
modified contract shall have the same effect as this contract. 

Article 24 Any disputes arising from this contract shall
be settled through negotiation. If no settlement is reached through negotiation,
either party could apply for the registration office for intermediation; if
intermediation fails, either party could apply for arbitration at People’s
court. 

Article 25 The contract shall come into force after it
is signed by both parties. Party A and Party B shall register and record the
contract at the registration office within 10 days after consigned by both
parties. 

Article 26 The contract written in Chinese version
prevails. 




Article 27 Four copies of the contract shall be
produced, two for Party A and the other two for Party B. 

	Party A (Seal): 	Shenzhen Yijiayang Industrial Co.,
      Ltd. 
	Legal representative: 	  
	Telephone: 	  
	Bank Account No.: 	  
	  	  
	  	  
	  	  
	  	  
	Party B (Seal): 	Shenzhen TMK Power Industries
      Ltd. 
	Legal representative: 	Wu, Henian 
	Telephone: 	0755-28109908 
	Bank Account No.: 	  


Contract signing date: December
16th, 2008