Unassociated Document


     

    Property
Sale and Purchase Contract

    


    Party A:
Hainan Zhonghe Pharmaceutical Co., Ltd. (hereinafter referred as
“Party A”)

    


    Party B:
Hainan Real Estates Co., Ltd. (hereinafter referred as “Party B”)

    


    This
contract (hereinafter referred as “Contract”) is made by and between Parties in
consideration of the property and based on the mutual covenants contained
herein, whereby the both parties agree as follows:

    


    Article I
Through friendly negotiations, Party A desires to sell to Party B the blow
properties:

    


    1.1 The
property which is located at Standard Unit 1, No.3 US Industrial county,
Industrial Street, Haikou. The gross floor area of the property is 3,031 square
meters, the transfer price is RMB1018 Yuan per squatter meter, the total amount
is RMB3,085,558.00 Yuan.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    1.2 The
property which is located at Room 401, Unit 3, Building 1, Huaxia zhijia, Youmin
Middle Road, Chengdu City. The construction area of the house is 67.5 square
meters, the total amount is RMB 66,154.79 Yuan.

    


    1.3 The
property which is located at Building 9, Baishayuan, Wuxi Road, Haidian
district, Haikou City. The construction area of the house is 292 square meters,
the transfer price is RMB3500 Yuan per squatter meter, the total amount is
RMB1,022,000 Yuan.

    


    1.4 The
property which is located at Floor 2 and Floor4, Multifunctional Building,
Baishayuan, Wuxi Road, Haidian District, Haikou City. The construction area of
the house is 584.23 square meters, the transfer price is RMB3500 Yuan per
squatter meter, the total amount is RMB2,044,805.00 Yuan.

     

    Article
II Payment

    Party B
shall pay the total transfer amount completely within 90 days after the
signature of this Contract.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    Article
III This Contract will come into effect immediately after it is signed by both
parties, the property ownership rights will be regarded as being reserved by
Party B and Party A shall not hold the ownership thereafter. Meanwhile Party B
takes the historically remaining defects of the properties as acquiescence, and
agrees to handle the relevant procedures on its own account provided that Party
A assist actively in go through the formality till completion.

    


    Article
IV  Taxes and fees

    The
Transfer Price does not include taxes and fees incurred due to conveyancing
which thereby are at Party B’s expense.

    


    Article
V  Default Responsibility

    


    5.1 If
Party B fails to pay Party A the transfer amount specified in Article
II within fixed time, Party A may lay a interest equivalent to 0.05% of penalty
which is charged daily.

    


     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    5.2 If
Party A fails to actively assist Party B go through the formality and causes
failure in conducting Property Ownership Certificate and User right Transfer
certification, Party A must pay Party B a penalty equivalent to 5% of transfer
amount.

    


    Article
VI  This Contract takes effect on the date signed by both
parties.

    


    Article
VI  This Contract is in two copies for either party.

    


    The
Seller: Hainan Zhonghe Pharmaceutical Co., Ltd.

    


    Legal
representative (or Authorized agent) signature:

    


    The
Buyer:  Hainan Xike Real Estates Co., Ltd.

    


    Legal
representative (or Authorized agent) signature:

    


                       This
Contract is singed in Haikou City on October 6, 2008

     

    
      
        
        

      

      
        4