Dragon Acquisition Corporation - Exhibit 10.12 - Filed by newsfilecorp.com






Exhibit 10.12 

(English Translation) 

Share Purchase Agreement 

Party A: Qingdao Longhai Investment Group 
Legal
Representative: Zhang Weiqing 

  Domicile: No. 73, Donghai eastern Road, Laoshan, Qingdao 

Party B: Qingdao Longhai Luqiao Co., Ltd 
Legal
Representative: Tian Weijiang 

  Domicile: Longquan Town, Jimo, Qingdao 

Party C: Gao Xuling 

  ID No.: 370226591228221 

Party D: Qingdao Oumei Real Estate Development Co., Ltd

Legal Representative: Zhang Weiqing 

  Domicile: No. 1431, Aolan Road, Jimo, Qingdao 

Whereas: Weifang Longhai Industry Co., Ltd. Is a limited
liability company (hereinafter “the company”) invested by Party A, Party B and
Party C. Its registered capital is 40 million RMB. Party A’s contribution to the
registered capital of the company is 20,000,000Yuan, representing a 50% of the
shares. Party B’s contribution to the registered capital of the company is
18,000,000Yuan, representing a 45% of the shares. Party C’s contribution to the
registered capital of the company is 2,000,000Yuan, representing a 5% of the
shares. 

After friendly discussion, all parties agreed that Party A,
Party B and Party C will assign its own 100% of the shares amount equivalent to
30,000,000 Yuan RMB in foreign exchange to Party D. All Parties sign an
agreement as follows: 

	1. 	
      Proportion and Price of the Purchased
  Shares

	 	 
		
      Party A will sell its own 50% of the shares of Weifang
      Longhai Industry Co., Ltd. equivalent to 15,000,000 Yuan RMB in foreign
      exchange to Party D.

	 	 
		
      Party B will sell its own 45% of the shares of Weifang
      Longhai Industry Co., Ltd. equivalent to 13,500,000 Yuan RMB in foreign
      exchange to Party D.

	 	 
		
      Party C will sell its own 5% of the shares of Weifang
      Longhai Industry Co., Ltd. equivalent to 1,500,000 Yuan RMB in foreign
      exchange to Party D.

	 	 
	2. 	
      Payment Term

	 	 
		
      In 90 days from the date of this contract has signed,
      Party D shall pay Party A, Party B and Party C the full purchase price in
      a lump sum.








	3. 	
      Right and Responsibilities of Two
Parties

	 	 
		
      Party D shall pay the total purchase price to Party A,
      Party B and Party C in a lump sum as stipulated in this agreement. Should
      Party D fail to pay off the amount, it will be liable for the
      responsibilities for breach of the contract.

	 	 
		
      After the full payment of the purchase price from Party
      D, Party A, Party B and Party C shall assist Party D in dealing with all
      the changing registration procedures in AIC, Tax and Foreign Exchange
      Bureau and other administrative departments.

	 	 
	4. 	
      Breach of contract

	 	 
		
      If Party D fails to pay the purchase price according to
      the term prescribed in the article 3 of this agreement, Party D should pay
      1/10000 of the purchase price as punishment every delay of one month to
      Party A, Party B and Party C. Party A, Party B and Party C are entitled to
      terminate the agreement and ask for the payment of damage except for the
      punishment when a delay of 6 months occurs.

	 	 
	5. 	
      Dispute Settlement

	 	 
		
      In the event of any dispute relating to this agreement,
      the parties shall attempt in the first instance to resolve such dispute
      through friendly discussion. If the event such dispute is not resolved
      through discussion, the dispute shall be submitted to Qingdao Arbitration
      Committee according to its rules of procedure. The arbitral award is final
      and binding to both parties.

	 	 
	6. 	
      Effective Conditions of the agreement

	 	 
		
      After formal sign and seal by all parties, the agreement
      comes to effect as long as the approval authority approves. The agreement
      has six copies. Each party holds one, the other will be submitted for
      approval.



Party A: Qingdao Longhai Investment Group 

  Legal Representative: Zhang Weiqing 

Party B: Qingdao Longhai Luqiao Co., Ltd 

  Legal Representative: Tian Weijiang 

Party C: Gao Xuling 

  ID No.: 370226591228221 

Party D: Qingdao Oumei Real Estate Development Co., Ltd


  Legal Representative: Zhang Weiqing 

27th, Aug, 2008