Exhibit 10.33

                                   Translation

                  Personal Guaranty Contract of Maximum Amount

        No. Shen Shangyin (Shuibei) Shouxin Gebao Zi (2005) A110020500006

Creditor:  Shuibei Division, Shenzhen Commercial Bank
Address: 2028, Wenjin Bei Rd, Shenzhen

Guarantor: Li Xiangqian
I.D number: 620105196808081078
Address: Dormitory Building, BAK Company, Kuichong Town, Longgang, Shenzhen
Post Code: 518119       Telephone: 0755-89770003

The  Creditor  and  the  Guarantor  have  reached  the  following  agreement  in
accordance  with the  Guarantee  Law of  People's  Republic  of China  and other
relevant laws and regulations:

                               Article I. Guaranty

1.1  Shenzhen BAK Battery Co., Ltd.  (hereinafter  referred to as "Obligor") and
     the  Creditor  have  entered  into  the  Comprehensive   Credit  Facilities
     Agreement  (reference  no.:  Shen  Shangyin  (Shuibei)  Shouxin  Zi  (2005)
     A11002050006,  hereinafter referred to as "Master Agreement"). As requested
     by the  Obligor,  the  Guarantor  undertakes  to provide  guaranty  for the
     indebtedness  of the  Obligor  under the  Master  Agreement  based upon all
     personal assets, interests and rights, current and future income etc. which
     are  independently  owned or jointly owned by the  Guarantor.  The guaranty
     shall cover all of the loan principal,  interest,  penalty interest, breach
     of contract  compensation,  damages,  undertaking fee, advances paid by the
     Creditor  and all the  expenses  such as  litigation  cost,  lawyer's  fee,
     notification  cost and public  notice  cost etc.  which is  incurred to the
     Creditor in realizing  its  creditor's  right.  The maximum loan  principal
     shall be RMB 50 million yuan.



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1.2  The guaranty  under this Contract  shall be guaranty with joint and several
     liability.

1.3  The  guaranty  period is from the  effective  date of this  Contract to two
     years  after the expiry of the term of the Master  Agreement  and  relevant
     agreement entered into under the Master Agreement.

1.4  The guaranty  under this  Contract is  independent.  In case that any third
     party provide  guaranty to the Creditor,  the Guarantor  shall  continue to
     assume the full  obligation of guaranty for all  indebtedness  as stated in
     clause 1.1 of this Contract.

1.5  This Contract is  irrevocable.  This Contract shall remain valid in case of
     invalidity  of the Master  Agreement  or relevant  agreements  entered into
     under the Master  Agreement.  This Contract  shall not be influenced by any
     documentation  or agreement  entered into by the Obligor and any party, and
     shall not be influenced by the misuse of the credit facilities, insolvency,
     bankruptcy,   loss  of  legal  person  status,  amendment  of  articles  of
     association, cease of business operation,  acquisition, division and merger
     etc.  of the  Obligor,  nor  any  change  of the  profession,  position  or
     financial capacity of the Guarantor.

          Article II. Undertakings and Representations of the Guarantor

2.1  The  Guarantor  has read the Master  Agreement  carefully  and  accepts all
     clauses of the Master Agreement.  The relevant  agreements  entered into by
     the  Creditor  and the Obligor  under the Master  Agreement do not need the
     confirmation of the Guarantor.

2.2  The  Creditor is entitled to examine  the  Guarantor's  financial  capacity
     during the term of this  Contract and the  Guarantor  shall give  necessary
     assistance.



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2.3  The Guarantor  undertakes  that the Guarantor  shall continue to assume the
     obligation of guaranty in case of the amendment of the Master  Agreement by
     the Creditor and the Obligor and such  amendment  does not need the consent
     of the  Guarantor.  Without  prejudice to the above,  the  Guarantor  shall
     assume the  obligation  of guaranty for the  indebtedness  under the Master
     Agreement before the amendment if such amendment increases the indebtedness
     of the Obligor and such amendment has not been approved by the Guarantor in
     writing.

                      Article III. Performance of Guaranty

3.1  In case of  default  by the  Obligor  upon the expiry of the term under the
     Master  Agreement  (or  expiry  date  as  declared  by the  Creditor),  the
     Guarantor  shall  unconditionally  pay the relevant  amount to the Creditor
     after the  Creditor  has  notified  the  Guarantor in writing to do so. Any
     statement signed by the authorized representative of the Creditor which can
     prove the default of the Obligor (unless  otherwise  proved to be obviously
     wrong) shall be deemed as the  notification  of the Creditor  demanding the
     Guarantor to pay the relevant amount.

3.2  The Guarantor irrevocably  authorizes the Creditor to transfer directly any
     defaulting  amount of money from the bank  account of the  Guarantor to the
     account of Creditor.  The Creditor shall notify the Guarantor in writing of
     such  transfer  and is  entitled  to demand  the  Guarantor  to pay for the
     unsettled indebtedness.

                 Article IV. Other Issues Agreed by Both Parties

N/A

                             Article V Miscellaneous

5.1  This  Contract is the  subsidiary  agreement  and an  integral  part to the
     Master Agreement  (reference no.: Shen Shangyin (Shuibei) Shouxin Zi (2005)
     A11002050006).



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5.2  Any dispute  arising from this Contract  shall be submitted to the People's
     Court of the place of the  Creditor  and the laws of  People's  Republic of
     China shall be the governing law.

5.3  This Contract shall come into effect once it is signed by the Guarantor and
     the legal  representative/authorized  representative  of the  Creditor  and
     stamped with the company chop of the Guarantor.

5.4  This Contract has four originals,  the Creditor shall retain two originals,
     the Obligor  shall retain one original and the  Guarantor  shall retain one
     original.

Guarantor (Signature):_______________
Date: 19 April 2005
Venue: Shenzhen

Creditor (Company Chop):____________
Legal Representative/Authorized Representative:___________
Date: 20 April 2005
Venue: Shenzhen