Deed of Release



 Exhibit 10.26 
 English Translation for Reference Only 
 DEED OF RELEASE 
 Among 
 CAPITAL ALLY INVESTMENTS LIMITED

 (“Pledgor”) 
 and 
 PYPO DIGITAL COMPANY LIMITED 
 (“Beneficiary”) 
 Dated: 10th November, 2008 







 This DEED OF RELEASE (this
“Deed”) is made on [10th November, 2008] by and among the following parties: 
  

	(A).	CAPITAL ALLY INVESTMENTS LIMITED, a company incorporated under the Laws of the British Virgin Islands (BVI Company No. 1433966) (the “Pledgor”); and


  

	(B).	PYPO DIGITAL COMPANY LIMITED, an exempted company incorporated and existing under the Laws of the Cayman Islands (the “Beneficiary”).


 The Pledgor and the Beneficiary are each hereinafter referred to individually as a “Party”, and
collectively as the “Parties”. 
 RECITALS 
 WHEREAS, the Pledgor has entered into an Equity Pledge Agreement dated 10 March 2008 in favour of the Beneficiary (the “Equity
Pledge”). 
 WHEREAS, the Beneficiary wishes to discharge the Equity Pledge. 
 NOW THEREFORE, in consideration of the mutual promises hereinafter set forth, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 ARTICLE I. 
 RELEASE 
 The Beneficiary hereby
releases and discharges the Pledgor from all its obligations under the Equity Pledge and hereby irrevocably and unconditionally releases and discharges all security interests created by the Pledgor under the Equity Pledge. 
 ARTICLE II. 
 COUNTERPART 

 This Deed may be executed in counterparts each of which when executed and delivered shall constitute an original but all such counterparts
together shall constitute one and the same instrument. 
 ARTICLE III. 
 GOVERNING LAW AND SETTLEMENT OF DISPUTES 
 3.1 Governing Law. This
Deed, including the validity hereof and the rights and obligations of the Parties hereunder, shall be construed in accordance with and governed by the laws of Hong Kong. 
 3.2 Settlement of Disputes. The Parties agree that any legal action or proceeding arising out of or relating to this Deed may be brought in the courts of Hong Kong and irrevocably submit to the non-exclusive
jurisdiction of such courts. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

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 IN WITNESS WHEREOF, this Deed has been executed by the Parties and is intended to be and is hereby
delivered on the day and year first above written. 
 Beneficiary: 
  

							
	 EXECUTED AS A DEED by
 PYPO DIGITAL COMPANY LIMITED
	  	)	  	/s/ Kuo Zhang
	  	)	  	  
 Duly Authorised Signatory


	  	)	  	
	  	)	  	Name:	  	Kuo Zhang
	  		  		  	 
	  	)	  		  	
	  	)	  	Title:  	  	Director
		  		  		  	 
		  	)	  		  	

 in the presence of: 
  

					
	 /s/ Xudong Di
	  	 
	 Signature of Witness
	  		  	
		
	 Name:      Xudong
Di                                        
                                
	  	
			
	 Address:    No. 1, Naoshikuo Street, Xi Cheng
                   District,
Beijing                                       
     
	  		  	
			
	 Occupation:    Legal Counsel                              
                              
	  		  	
		  		  	

 [Signature Page of Deed of Release] 







 Pledgor: 
  

							
	 EXECUTED AS A DEED by
 CAPITAL ALLY INVESTMENTS LIMITED
	  	)	  	/s/ Kam Yuen
	  	)	  	  
 Duly Authorised Signatory


	  	)	  	
	  	)	  	Name:	  	Kam Yuen
	  		  		  	 
	  	)	  		  	
	  	)	  	Title:  	  	Director
		  		  		  	 
		  	)	  		  	

 in the presence of: 
  

					
	 /s/ Chu, Wan Shan Canness
	  		  	
	  
 Signature of Witness
	  		  	
			
	 Name:              Chu, Wan Shan
Canness                                        
    
	  		  	
			
	 Address:          48/F, Bank of China, 1 Garden

                          Rd., Central,
H.K.                                         
               
	  		  	
			
	 Occupation:     Accountant                               
                                 
	  		  	

 [Signature Page of Deed of Release]