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Exhibit 10.1

Summary of Settlement and Release Agreement

Party A: The Bankruptcy Receiver of Fuxin Guangya Flat Glass
Co., Ltd (the Bankruptcy Receiver) Party B: Fuxin Xianheng Float Glass
Co., Ltd.(Funxian Xianheng)

In 2004, Fuxin Guangya Flat Glass Co., Ltd (Guangya)
defaulted in debts for $240 million after it shut down its operation. Then the
court froze Guangyas assets. On July 21, 2004, Fuxin municipal government
decided that Guangya should lease (its manufacturing equipment (the Leased
Equipment)) to Fuxin Hengrui Technology Co. Ltd. (Fuxin Hengrui). On August
25, 2004, Guangya entered into a lease agreement with Fuxin Hengrui with respect
to Guangyas manufacturing equipment (the 2004 Lease).

Guangya filed for bankruptcy in 2007, and the Bankruptcy
Receiver was appointed to assume the jurisdiction of Guangyas assets for the
purpose of the bankruptcy proceeding. As part of the restructuring, on September
15, 2007 the Bankruptcy Receiver terminated the 2004 Lease with Fuxin Hengrui,
and subsequently entered into a new leasing agreement with Fuxin Xianheng with
respect to the Leased Equipment (the 2007 Lease).

In April 2010, the Bankruptcy Receiver decided to conduct sales
of the Leased Equipments, to satisfy certain third party secured debts with the
Leased Equipment as collateral.

The Bankruptcy Receiver therefore terminated the 2007 Lease
with Fuxin Xianheng and the two foregoing parties decided to enter into a
settlement and release agreement (this Agreement). NOW, THEREFORE, in
consideration of the foregoing, and of the mutual representations, warranties,
covenants, and agreements herein contained, the parties hereto agree as follows:

1 According to the 2007 Lease, the following sets forth
Guangyas liabilities in the event of termination: (1) Guangya should compensate
Fuxin Xianheng for its investment loss in the amount as follow:

|Fuxin Xianhengs the total investment amount
      of
|-----------------------------------------------------
|Investment loss=                                     
|                                                     

Fuxin Xianheng invested totally in amount of RMB 40,434,145.32
during the term of lease. The lease period is 12 years. The remaining lease
period is 6 years.

|RMB 40,434,145.32
|-----------------
|Investment loss= 
|12               

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(2) Guangya should compensate Party for its loss of income:

Between October, 2005 and February, 2010, the total profits
from 300t/d product line were the following:

|Period | Profit after tax (RMB)
|------ | ----------------------
|2005   | 902,778.25            
|2006   | 15,262,619.05         
|2007   | 64,314.91             
|2008   | 22,807,274.65         
|2009   | -7,452,236.53         
|2010   | -1,241,927.99         
|Total  | 30,342,822.34         

|RMB 30,342,822.34
|-----------------
|Loss of Income = 
|6                

According to the 2007 Lease, Guangya should pay Fuxin Xianheng
in amount of RMB 50,559,894.99, equal to the sum of the investment loss and loss
of income.

|2 | Termination of the 2007 Lease                   
|- | ------------------------------------------------
|  |                                                 
|  | The 2007 Lease was terminated on April 30,
2010.
|  |                                                 
|3 | Settlement                                      

The Bankruptcy Receiver should pay Fuxin Hengrui the following
scaled amount (the Settlement Payment), in exchange, Fuxin Hengrui should
release any obligations or liabilities incurred to the Bankruptcy Receiver under
the 2007 Leases. The Settlement Payment should be paid when the proceeds of the
sales of equipments becomes available and after such proceed being applied to
satisfy security interest with higher priority, in following amount:

- if the proceeds of the sales of equipments is RMB 54,310,000, Fuxin
  Xianheng will be entitled to RMB18,000,000;
- if the proceeds of the sales of equipments is RMB RMB62,700,000
  or higher, Fuxin Xianheng will be entitled to RMB26,390,000;

4           
Miscellaneous

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|(3) | Fuxin Hengrui has the right of priority to purchase in
      the sales of the Leased Equipments.                                                                                                                                
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                 
|(4) | If the Leased Equipments are purchased by a third party,
      Fuxin Hengrui is obligated to buy the portion of the Lease Equipments
      inseparable from Fuxin Hengruis assets from the third party at the sold
      price.
|    |                                                                                                                                                                                                                                 
|(5) | If the Leased Equipments are not sold, then the parities
      should enter an amendment to set forth the term of settlement of the 2007
      Lease.                                                                           

This agreement shall be signed in four copies. The Bankruptcy
Receiver and Fuxin Hengrui should each have one copy, the State Assets
Administration Committee should have one, and Fuxin City intermediate People`s
Court should have one.

Party A: /s/ The Bankruptcy Receiver of Fuxin Guangya Flat
Glass Co., Ltd.The Bankruptcy Receiver of Fuxin Guangya Flat Glass Co.,
Ltd

Party B: /s/ Fuxin Xianheng Float Glass Co., Ltd.
Fuxin Xianheng Float Glass Co., Ltd.

June 9, 2010

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