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Summary of Loan Agreement Entered into by and between Shenzhen BAK Battery Co., Ltd.
 (the Company) and Shenzhen Eastern Branch, Agricultural Bank of China (the Creditor)
 dated January 11, 2011

Main contents

| | Contract number: 81010120110000034;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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| | Loan principal: RMB 50 million;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
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| | Loan term: from January 11, 2011 to January 11, 2012;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
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| | Floating interest rate: Interest rate of loan shall be equal to the benchmark rate announced by the Peoples Bank of China, and be adjusted every 3 months;                                                                                                                                                                                                                                                                                                                                                                                                                                          
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| | Purpose of the loan is to provide working capital for loan payment of the Company;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
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| | Advanced repayment of loan needs to be approved by the Creditor;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
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| | Breach of contract penalties: correct the breach of contract in time limit; suspension of loan unprovided; release loan agreement, demand prepayment of loan principal and interest before maturity; imposition of punitive interest
incurred due to delayed loan; imposition of punitive interest for embezzlement of loan; imposition of plural interest for unpaid interest; withdraw from any accounts of the Company the loan principal, interest and other fees; compensation for the
Creditors expenses incurred due to demanding the loan principal and interest in case of litigation, etc.



Headlines of the articles omitted:

- Termination and explanation
- Undertaking of the Company
- Loan arrangement
- Interest clearing of the loan
- Payment of the loan
- Rights and obligation
- Interest penalty of loan
- Guarantee of the loan agreement
- Disputation settlement
- Validity
- Text

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