**Exhibit 10.3**

**Summary of Loan Agreement****entered into by and between Shenzhen BAK Battery Co., Ltd. and****Shenzhen Eastern Branch, Agricultural Bank of China dated****November 15, 200****6.**

**Summary of the main articles**

| • | Contract   number:   NO.81101200600001925                                                                                                                                                                                                                                                                                                       |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Loan Principal: RMB 16 million;                                                                                                                                                                                                                                                                                                                 |
| • | Loan term: from November 15, 2006 to May 14, 2007;                                                                                                                                                                                                                                                                                              |
| • | Interest rate: fixed rate of 5.58%;                                                                                                                                                                                                                                                                                                             |
|   | •                                                                                                                                                                                                                                                                                                                                          | Penalty interest rate for delayed repayment: 5.58% plus 50% *5.58%; |
|   | •                                                                                                                                                                                                                                                                                                                                          | Penalty interest rate for embezzlement of loan proceeds: 5.58% * 2; |
| • | Purpose of the loan is to provide working capital for the Company;                                                                                                                                                                                                                                                                              |
| • | Advanced repayment of loan needs to be approved by the Lender;                                                                                                                                                                                                                                                                                  |
| • | Breach of contract penalties: suspension of loan un-provided, demand prepayment of loan principal and interest before   maturity; imposition of punitive   interest; compensation for   the Lender’s expenses incurred due to the Company’s breach of contract such   as lawyer’s fee, travel   cost in case of litigation, etc. |

**Summary of the articles omitted**

| • | Types of the   loan                              |
|--------|--------------------------------------------------|
| • | Clearing of   the loan interest                  |
| • | Condition   precedent to the drawing of the loan |
| • | Rights and   obligations of the borrower         |
| • | Rights and   obligations of the lender           |
| • | Guarantee of   the loan                          |
| • | Dispute   settlement                             |
| • | Miscellaneous                                    |
| • | Validity                                         |
| • | Notes                                            |
|   |                                             |
|        |