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| 1. | Scope of guarantee |
|----|--------------------|

| 2. | Method of guarantee |
|----|---------------------|

| 3. | Period of guarantee |
|----|---------------------|

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| 4. | Amendment of master contract |
|----|------------------------------|

| (1) | The Guarantor is an independent legal entity, has all necessary legal capacities and is able to fulfill lender’s rights and undertake liabilities under this Contract on its own. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The Guarantor is entitled to execute this Contract and completes all authorization and approvals necessary for executing this Contract and fulfilling its lender’s rights under this Contract. All the terms of this Contract are the authenticity declaration of will of the Guarantor and binding upon the Guarantor. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The Guarantor promises to comply with laws. The execution and performance of this Contract is neither inconsistent with laws (including laws, regulations, rules, local regulations and judicial interpretation), articles of association, documents of relevant organs, judgments and rulings that the Guarantor must comply with nor in conflict with any contract or agreement executed by the Guarantor or any other lender’s right undertaken by the Guarantor. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | The Guarantor guarantees that all of its financial statements (if any) comply with the laws of the People’s Republic of China (excluding Hong Kong, Macao and Taiwan), are authenticity and complete, and fairly represent the financial status of the Guarantor, and that all information and documents involved in this Contract are authenticity, effective, accurate and complete with no omission. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | The Guarantor promises to complete filing, registration or other procedures necessary for the effectiveness and performance of this Contract and pay relevant taxes and expenses. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Since the issuance of the latest audited financial statement, no substantial adverse change has happened to the operation status or financial status of the Guarantor. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | The Guarantor has disclosed to the Lender facts and status that the Guarantor knows or should know and are necessary for the Lender to determine whether to grant financing under the master contract. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (8) | On the date of the execution of this Contract and during the performance of this Contract, the Guarantor has not defaulted and will not default any wage, medical or disability allowance, pension or compensation. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (9) | The Guarantor suffers from no situation or fact which causes or may cause substantial adverse influence to the ability of the Guarantor to fulfill contract. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1. | Commitment of the Guarantor |
|----|-----------------------------|

| (1) | The Guarantor promises that without obtaining the written consent of the Lender, the Guarantor will not engage in any of the following activities: |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The Guarantor promises that when any of the following events occurs, the Guarantor will, on the date of the occurrence, inform the Lender of such event, and within five banking days as of the date of the occurrence, send the original of the said notice (if the Guarantor is a natural person, the notice shall be signed; otherwise, it shall be sealed) to the Lender: |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The Guarantor promises that during the execution and performance of this Contract, the Guarantor will provide relevant financial information or income certificate from time to time upon the requirement of the Lender. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Where the Lender issues letter of credit, bank guarantee or standby letter of credit for the benefit of the Borrower in accordance with the master contract, the Guarantor promises that when the Borrower fails to supplement (or supplement in advance) the guarantee money in full according to relevant requirements, the Guarantor shall bear joint and several liability to supplement the guarantee money. The supplement of guarantee money by the Guarantor shall not relieve the Guarantor of the guarantee liability of the Guarantor under this Contract. Any losses (including interest losses) occurred to the Guarantor when it supplements the guarantee money shall be borne by the Guarantor itself. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | The Guarantor confirms that before the Borrower pays off all the debts under the master contract to the Lender, the Guarantor may not exercise recourse or any related right against the Borrower. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (6) | Where the Borrower repays all or part of its debts in advance or the Borrower only pays debts to the Lender, but such repayment in advance or solely is revoked, the Guarantor shall continue to undertake joint and several liabilities. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Agreement on deduction |
|----|------------------------|

|   | (1) | Where the Guarantor fails to pay any debts due or shall supplement the guarantee money fully, the Lender may directly deduct from any accounts of the Guarantor in Shanghai Pudong Development Bank. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Unless otherwise provided by relevant authorities, the money deducted shall be used to repay debts according to the following order of preference: (a) due expenses payable by the Guarantor and the Borrower; (b) interest due; and (c) principal due. Where several lender’s rights are due and unpaid, the order of preference shall be determined by the Lender. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Where the currency of money deducted is not the currency of repayment, the Lender is entitled to settle/purchase exchange according to the exchange rate determined by itself. The risks in connection with exchange rate shall be undertaken by the Guarantor. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Certificate of lender’s rights |
|----|--------------------------------------|

| 4. | Notices and service |
|----|---------------------|

|   | (1) | Any notice under this Contract shall be sent to the address mentioned in the page of signature until and unless such address is changed through written notice. Any notice sent to the said address will be deemed as received on the following date: if by letter, the seventh banking day after delivery; if by hand, the date of receipt; if by fax or email, the date when the fax or email is delivered. However, all notices, requirements or communication sent or delivered to the Lender will be deemed as received when such notices, requirements or communication are received by the Lender. All notices or requirements sent to the Lender by fax or email must be confirmed by delivering the original (if the Guarantor is a natural person, it shall sign the original, otherwise, it shall be sealed) to the Lender by hand or postal. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | The Guarantor agrees that any summons or notice will be deemed as received as long as they are delivered to the domicile stated in the page of signature herein. No change of such domicile is valid unless the Guarantor informs the Lender in writing in advance. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Effectiveness, amendment and termination |
|----|------------------------------------------|

| (1) | This Contract enters into effect after being sealed by the Guarantor and the Lender and signed or sealed by the legal representative/principal or authorized representative of both parties (if the Guarantor is a natural person, this Contract shall be only signed by the natural person) and terminates when all the lender’s rights guaranteed under this Contract are settled. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | This Contract is independent of the master contract. Its validity is not affected even if the master contract is invalid or revoked. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------|

| (3) | After this Contract enters into effect, no party is allowed to amend or terminate this Contract in advance without the consent of the other party. Both parties may conclude written agreement through negotiation to amend or terminate this Agreement. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1. | Events of breach |
|----|------------------|

| (1) | Any statement, acknowledgement or guarantee of the Guarantor under this Contract or any notice, authorization, approval, consent, certificate or any other document made under this Contract or in connection with this Contract is inaccurate or misleading, or confirmed to be inaccurate or misleading, or verified to be invalid or have been revoked; |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (2) | The Guarantor breaches of any item under Article 4 herein; |
|-----|------------------------------------------------------------|

| (3) | The Guarantor winds up, stops production, is under restructuring, liquidation, receivership or trusteeship, is dissolved or bankrupt, or has its business license revoked or cancelled; |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | The Guarantor is dead or declared dead; |
|-----|-----------------------------------------|

| (5) | The Guarantor transfers or tries to transfer assets by excuse of change of marital relationship; |
|-----|--------------------------------------------------------------------------------------------------|

| (6) | The financial status of the Guarantor worsens, or its operation is in great difficulty, or any event or circumstance adverse to its operation, financial status or repayment ability occurs; |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | The Guarantor or its controlling shareholder, actual controller or connected person is involved in major lawsuit or arbitration, or any of their major assets are seized, closed down, frozen or enforced compulsorily or suffers from any other measure with equivalent effect, or its legal representative, director, supervisor or officer is involved in lawsuit, arbitration or any other compulsory measure so that the repayment ability of the Guarantor is affected adversely; or |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (8) | The Guarantor breaches of this Contract in any other way so that the normal performance of this Contract is affected, or engages in any other activity damaging the legitimate interest of the Lender. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Disposal |
|----|----------|

| 1. | Governing law |
|----|---------------|

| 2. | Settlement of dispute |
|----|-----------------------|

| 3. | Miscellaneous |
|----|---------------|

| (1) | Where there is any inadequacy herein, both parties may negotiate to supplement in Article 7 herein or otherwise conclude written agreement as appendix to this Contract. Any appendix to this Contract (refer to Article 7 of this Contract) is an integral part of this Contract and has the same legal effect with this Contract. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Unless otherwise stated in this Contract, the terms and expressions under this Contract have the same meaning with those under the master contract. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| 1. | The master contract guaranteed by this Contract [corresponding to the Whereas clause herein] |
|----|----------------------------------------------------------------------------------------------|

| (1) | The master contract is  concluded by the Borrower and the Lender on   or a series of contracts from March 31, 2011 to March 31, 2014. The Lender under this Contract is Shanghai Pudong Development Bank Huzhou Sub-branch under the master contract. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The Borrower under the master contract is Zhejiang Chisen Electric Co., Ltd. whose domicile is Changxing. |
|-----|-----------------------------------------------------------------------------------------------------------|

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| 2. | The principal lender’s rights guaranteed by this Contract [corresponding to Article 1 herein] |
|----|-----------------------------------------------------------------------------------------------------|

| 3. | Settlement for breach [corresponding to Paragraph 2 of Article 5 herein] |
|----|--------------------------------------------------------------------------|

| 4. | The appendices to this Contract include: [corresponding to Item 1 of Paragraph 3 of Article 6 herein] |
|----|-------------------------------------------------------------------------------------------------------|

| (1)    | .      |
|--------|--------|
|   |   |
| (2)    | .      |
|   |   |
| (3)    | .      |
|   |   |
| (4)    | .      |
|   |   |
| (5)    | .      |

| 5. | Other matters agreed upon by both parties [corresponding to Item 1 of Paragraph 3 of Article 6 herein] |
|----|--------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|
|   |   |
|   |   |
|   |   |

| 6. | This Contract is in duplicate. The Guarantor and the Lender each hold one copy. Each copy has the same legal effect. |
|----|----------------------------------------------------------------------------------------------------------------------|

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| The Guarantor:                 | The Lender:                                      |
|--------------------------------|--------------------------------------------------|
| Zhejiang Changxing Chisen      | Special Seal for Corporate Banking of Shanghai   |
| Xingguangyuan Co., Ltd. (seal) | Pudong Development Bank Huzhou Sub-branch (seal) |

|                                  |   |
|---------------------------------------|--------|
| (The above applies to natural person) |

| Domicile:  | Principal Place of Business: |
|------------|------------------------------|
| Post Code: | Post Code:                   |
| Tel:       | Tel:                         |
| Fax:       | Fax:                         |
| Email:     | Email:                       |
| Contact:   | Contact:                     |

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|   | Promisor: |
|--------|-----------|
|   | Dated:    |

|   | 1. | Copy of I.D. card |
|--------|----|-------------------|

|   | 2. | Copy of marriage certificate |
|--------|----|------------------------------|

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