Renminbi
      Loan Contract

    


    (Loanee)
      Party A: Changxing Chisen Electric Co., Ltd.

    Address:
      Jingyi Road, Changxing Economic Development Zone

    Legal
      Representative: Xu Kecheng 

    Tel:
      6267588

    Zip
      Code:
      313100

    


    Loaner
      (Party B): China Construction Bank Corporation Changxing Branch

    Address:
      Huaicheng Road, Changxing 

    Chief
      Person: Chen Shuo

    Tel:
      6024028

    Zip
      Code:
      313100

    


    WHEREAS, 

    


    Party
      A
      applies to Party B for a loan and Party B agrees such loan to Party A, and
      in
      accordance with the relevant laws and regulations and after friendly
      consultation, both parties hereby agree to enter into this Contract to evidence
      the aforesaid.

    


    NOW
      IT IS agreed
      as
      follows: 

    


    
      	Article 1	
              Loan
                Amount 

            


    

    


    The
      loan
      amount under this Contract shall be seventeen
      million Yuan Renminbi.
      

    


    
      	Article 2	
              Loan
                Purpose 

            


    

    


    Party
      A
      shall use the loan to purchase raw
      materials,
      and may
      not change such loan purpose without the written consent of the loaner.


    


    
      	Article 3	
              Loan
                Period

            


    

    


    The
      loan
      period under this Contract shall be one
      year
      commencing from January
      11, 2008
      and
      ending on December
      20, 2008.

    


    
      	Article 4	
              Loan
                Rate, Penalty Rate, Interest Charge and Interest Settlement
                

            


    

    


    
      	
              (1)

            	
              The
                loan rate under this Contract shall be annual interest rate of
                8.217%
                that keeps constant within the loan period.


            


    


    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    


    
      	
              (2)

            	
              Provided
                that Party A fails to use the loan according to the purpose of this
                Contract, the penalty rate shall be 100%
                raised loan rate. 

            


    

    
      	
              (3)

            	
              The
                penalty rate on overdue repayment shall be 50%
                raised loan rate.

            


    

    
      	
              (4)

            	
              The
                interest date herein shall refer to the date of first offering of
                loan to
                the account designated by Party A.

            


    

    
      	
              (5)

            	
              The
                loan interest shall start since the date on which the loan is transferred
                to the account designated by Party A. The loan shall be calculated
                interest per day, daily interest = annual interest date/360. Provided
                that
                Party A fails to pay the interest according to the expiry date of
                interest, double interest will be collected since the pursuing date
                thereof. 

            


    

    
      	
              (6)

            	
              The
                interest under this Contract shall be settled by month, the expiry
                date
                for interest shall be the 20th
                day of each month.

            


    

    


    
      	Article 5	
              Offer
                and Use of Loan

            


    

    


    
      	
              (1)

            	
              Premises

            


    

    On
      the
      premises that the following conditions are satisfied one after another, Party
      B
      shall be amenable to offer the loan thereto except its waiver in whole or in
      part,

    


    
      	 	
              1)

            	
              Party
                A has completed all approvals, registrations, deliveries, insurance
                and
                other legal procedures in connection with the loan under this
                Contract;

            


    

    
      	 	
              2)

            	
              The
                guarantee, if any under this Contract, has taken effect and continue
                to be
                effective;

            


    

    
      	 	
              3)

            	
              Party
                A has opened the account to draw and repay money pursuant
                hereto;

            


    

    
      	 	
              4)

            	
              Party
                A has no any one of breach of this Contract or any situation possibly
                to
                damage Party B’s creditor’s right as have been specified herein.
                

            


    

    


    
      	(2)	
              Use
                of fund 

            


    

    The
      loan
      under this Contract shall be offered in full and at one time.

    


    
      	Article 6	
              Repayment
                

            


    

    


    
      	(1)	
              Principal
                of repayment 

            


    

    Party
      B
      shall be entitled to use Party A’s repayment to repay the expenses that should
      be paid by Party A but has been paid by Party B in advance and the balance
      shall
      be recovered in accordance with the principle firstly interest, then principal,
      settlement of interest with pricipal.

    
      	(2)	
              Interest
                

            


    

    Party
      A
      shall pay Party B the expired interest at the expiry date for interest. The
      first date to pay interest shall be the first expiry date for interest after
      the
      offer of loan.

    
      	(3)	
              Principal
                recovery plan 

            


    

    The
      principal shall be paid off in full at the expiry date. 


    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    


    
      	(4)	
              Recovery
                method

            


    

    By
      automatic transfer to Party B’s account, also, Party B shall be entitled to
      transfer the fund from Party A’s account.

    
      	(5)	
              Advance
                repayment 

            


    

    In
      the
      event of advance repayment, Party A shall submit a written application to Party
      B 30
      working
      days in advance and may repay, in whole or in part, the principal after Party
      B’s approval thereof.

    


    
      	Article 7	
              Party
                A’s Right and Obligation 

            


    

    


    
      	(1)	
              Rights

            


    

    Party
      A
      shall be entitled 

    
      	 	
              1)

            	
              to
                require Party A to offer the loan pursuant to this
                Contract;

            


    

    
      	 	
              2)

            	
              to
                use the loan pursuant to this
                Contract;

            


    

    
      	 	
              3)

            	
              to
                apply to Party B for an extension of loan subject to the condition
                set
                forth thereby;

            


    

    
      	 	
              4)

            	
              to
                require Party B to keep Party A’s financial information and business
                secrete in confidence, unless there is otherwise requirement in
                law;

            


    

    
      	 	
              5)

            	
              to
                refuse Party B and its employee’s act of asking for
                bribes.

            


    

    


    
      	(2)	
              Obligations

            


    

    Party
      A
      shall 

    
      	 	
              1)

            	
              to
                draw the loan and repay the principal and interest thereof pursuant
                to
                this Contract and undertake the fees incurred
                thereby;

            


    

    
      	 	
              2)

            	
              to
                produce financial and accounting data and situation relating to production
                and operation;

            


    

    
      	 	
              3)

            	
              to
                use the loan according to the purpose specified herein, not to
                misappropriate the loan to illegal
                trading;

            


    

    
      	 	
              4)

            	
              not
                to use the assets formed by the loan under this Contract as guarantee
                for
                the third person without the consent of Party B before full repayment
                of
                the principal and interest of the
                loan.

            


    

    


    
      	Article 8	
              Party
                B’s Right and Obligation 

            


    

    


    (1) Party
      B
      shall be entitled to require Party A to repay the principal, interest and fees
      on time, exercise other rights as have been specified herein and require Party
      A
      to perform the obligations thereof under this Contract;

    (2) Party
      B
      shall offer the loan pursuant to this Contract, exclusive of the delay as a
      result of Party A’s mistake or other reasons unattributable to Party
      B;

    (3) Party
      B
      shall keep Party A’s financial information and business secrete in confidence,
      unless there is otherwise requirement in law;

    (4) Party
      B
      may not acquire or require bribes from Party A or the employees
      thereof;

    (5) Party
      B
      may not engage any act untruthful or harmful to Party A’s lawful
      interest.


    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    


    
      	Article 9	
              Liability
                for Breach of Contract 

            


    

    


    
      	
              (1)

            	
              Party
                B’s breach of contract 

            


    

    
      	 	
              1)

            	
              Provided
                that Party B fails to offer the loan without good cause, Party A
                may
                require Party B to offer the loan pursuant to this
                Contract;

            


    

    
      	 	
              2)

            	
              Provided
                that Party B, in violation of the law or regulation, charges on Party
                A
                the interests and fees that shall not be collected, Party A shall
                be
                entitled to require the return thereof by Party
                B.

            


    

    


    (2)
      Party
      A’s breach of contract 

    
      	 	
              1)

            	
              Party
                A violates any provision set forth herein or any legal
                liability;

            


    

    
      	 	
              2)

            	
              Party
                A, expressly or by act, make clear not to perform any one of the
                obligations set forth herein.

            


    

    


    
      	Article 10	
              Miscellaneous
                

            


    

    


    (1)
      Dispute Resolution

    1)
      Any
      dispute arising from or in connection with the performance of this Contract
      shall preferable be settled through friendly consultation. If no settlement
      can
      be reached through such consultation, any party may refer such dispute to the
      court of the place in which Party B is located. 

    


    (2) Effectiveness
      

    This
      Contract shall come into effect since being signed and sealed by both
      parties.

    


    (3) Counterpart

    This
      Contract shall be executed in three
      copies,
      each of which shall be equally authentic. 

    


    
      	Article 11	
              Statement
                

            


    

    


    (1) Party
      A
      is clearly aware of Party B’s business scope and authorization limit.


    (2) Party
      A
      has read all provision of this Contract. Upon Party A’s request, Party B has
      made construction of relevant provision set forth herein and Party A has known
      well and fully understands the meanings of the provisions and relevant legal
      consequence. 

    (3) Party
      A’s
      signing on and performance of the obligations set forth in this Contract comply
      with the law, administrative rule, regulation and Party A’s articles of
      association or international file and have been approved by internal authority
      department and/or national competent department. 


    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    


    Party
      A:
      Changxing Chisen Electric Co., Ltd. (seal)

    Legal
      representative: /s/ Xu Kecheng (signature)

    Date:
      January 11, 2008

    


    Party
      B:
      China Construction Bank Corporation Changxing Branch (seal)

    Authorized
      representative: /s/ Wang Wei (signature)

    Date:
      January 11, 2008