Document:

Unassociated Document

    Exhibit
10.4

    Guarantee
Contract for No.: 4403402912009110028

    

    

    

    

    

    

    China
Development Bank Co., Ltd.

    RMB
Capital

    

    Guarantee
Contract

    

    

    

    

    

    

    Guarantor:
Song Yi

    Lender:
China Development Bank Co., Ltd.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Guarantor:
Song Yi

    Address:
707F,Buliding 9,Xiangxie Garden, Nongyuanlu, Futian District,
Shezhen

    ID No.:
422426195803290012

    Post
Code:
518000

    Tel:
0755-26553158

    Fax:
0755-26634369

    

    Lender:
China Development Bank Co., Ltd.

    Add:
No.29 Fu Cheng Men Wai Dajie, Xicheng District, Beijing, China

     

    Legal
Representative: Chen Yuan

    Postal
Code: 100037

    
      Operation
Branch: China Development Bank Co., Ltd., Shenzhen Branch

    

     

    Branch
Address: 12-15/F,Citic Building,No.1093
Shennanzhonglu,Shenzhen,China

    Branch
Manager: Yu Xiaoping

    Postal
Code: 518031

    Attn:
Deng Yonghong

    Tel:
0755-25987775

    Fax:
0755-25988280

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    To ensure
that the Borrower (“Shenzhen Diguang Electronics Co., Ltd.”) fulfills its loan
contract No. 4403402912009110028 signed with the Lender (hereinafter referred to
as the “Main Contract”), the Guarantor is willing to provide the guarantee to
the Lender. The Guarantor and the Lender have reached an agreement to conclude
this Contract.

    

    1.
Definition

    

    Except
for the other stipulation of this Contract, the terms relating to the definition
in this Contract are the same as the Main Contract.

    

    2. Scope
of Guarantee

    

    Under the
Main Contract, the Borrower borrows RMB30 million that is thirty million Yuan
for one year , that is from the draw down date to the first anniversary of such
date.

    

    The scope
of guarantee includes all principal, interest, default interest, compensation,
liquidated damages, damage awards and costs to gain the right of mortgage of the
borrowed amount as stipulated in the Main Contract (include but not limited to
the litigation or arbitration fees, property preservation fee or evidence
preservation fee, enforcement fee, evaluation fee, auction fee, appraisal fee,
lawyer fee, travel fee and investigation-evidence collection fees,
etc.).

    

    With the
repayment of principal amount borrowed in the Main Contract, the principal
amount secured under this Contract reduces correspondingly.

    

    3. Forms
of Guarantee

    

    The
Guarantor will provide the unlimited and joint obligation guarantee to the
Lender as specified under the scope of guarantee in this Contract with all his
personal properties (including the property that belongs to the Guarantor in all
the personal and husband-wife joint properties).

    

    No matter
whether or not the Borrower provides the material guarantee for the Main
Contract, if the Borrower fails to repay the loan under the guarantee scope of
this Contract, the Lender has the right to directly demand the Guarantor to
undertake the guarantee responsibility, and the Guarantor should make the
settlement within 5 days after receiving the written notice for fulfilling the
guarantee responsibility.

    

    4.
Guarantee Period

    

    The
guarantee period of this Contract is two years starting from the expiry date of
the fulfillment period of each liability under the Main Contract.

    

    5.
Representations and Warranties given by Guarantor

    

    (A) The
Guarantor is a citizen of P.R.China and has entire civil ability at the time
when this Contract is executed.

    

    (B) For
the Guarantor, there is neither the personal liability nor any influence on the
litigation or arbitration for the status of his personal property.

    

    (C) The
Guarantor has the full right and power to sign this Contract and to make the
transactions under this Contract. This Contract is effectively signed by the
Guarantor.

    

    (D) All
documents and materials provided by the Guarantor to the Lender are true,
accurate and complete.

    

    (E) The
financial status of the Guarantor is sufficient to ensure that he is able to
fulfill the guarantee responsibility.

    

    (F) The
Guarantor is willing to undertake the joint guarantee responsibility with all
his owned properties.

     

    (G) The
Guarantor agrees to provide a list showing all his personal properties (Annex 1)
to the Lender. If the Lender thinks it necessary, an evaluation of the listed
properties can be made with the evaluation fee to be undertaken by the
Guarantor.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (H) The
Guarantor undertakes to own the entire ownership (or disposition) of the listed
properties. If the Lender thinks that it is necessary, an insurance policy can
be made to part of its properties or the mortgage or pledge implementation (if
the mortgage or pledge is made, the mortgage or pledge contract should be
separately signed) is carried out, and the Guarantor undertakes to coordinate in
going through the relevant registration formalities.

    

    (I) The
Guarantor ensures that he will unconditionally undertake the joint
responsibility guarantee and be committed to give up all the
defenses.

    

    The above
representations and warranties are effective within the effective term of this
Contract.

    

    6.
Obligations of the Guarantor 

    

    (A)
Starting from the execution date of this Contract, the Guarantor is not allowed
to dispose his property at his discretion (including but not limited to the
mortgage, pledge, transfer and give-off, etc.) unless the written approval is
obtained from the Lender. 

    

    (B)
Starting from the execution date of this Contract, if the Guarantor intends to
rent his property for long term or make the modification to the fixed mortgage
or pledge, etc., the permission should be obtained in advance from the Lender.
It will be void for the Guarantor’s above act without the Lender’s
permission.

    

    (C) The
Guarantor will deliver the other materials on time, which are required by the
Lender.

    

    (D) The
Guarantor should continue to comply with and fulfill all the relevant
obligations and responsibilities in connection with and as the shareholders of
the Company.

    

    (E) If
any incidents which affect or may affect the fulfillment of any obligation from
the Guarantor under this Contract happen, the Guarantor should notify the Lender
timely.

    

    (F)
Before the termination of the guarantee responsibility under this Contract, it
is not allowed for the Guarantor to provide guarantee to any third party unless
written approval is obtained from the Lender.

    

    (G) After
the execution of this Contract, the Guarantor should not increase its debt
liability ( or to be sufficient to affect the guarantee ability under this
Contract) unless written approval is obtained from the Lender.

    

    (H) The
Guarantor should not sign any document that may be harmful to the Lender’s
interests or is engaged in any act that may be harmful to the Lender’s
interests.

    

    (I)
Before the termination of the guarantee responsibility under this Contract, if
the Guarantor intends to change his nationality or apply for the permanent right
of abode to the other country (except the obtained right), it should be agreed
by the Lender and be handled after the discussion with the Lender for the
relevant matters.

    

    (J) If
some material changes take place at the domicile or the working unit, etc. of
the Guarantor, the Lender should be notified in writing 10 days in advance, with
the relevant documents to be provided to the Lender for record.

    

    (K) The
Guarantor will undertake all the expenses that occur in the process of the
execution and fulfillment of this Contract.

    

    7.
Liability for breach of contract

    

    If the
Guarantor breaches this Contract stipulations or it is proved that his
representations or warranties in Clause 5 of this Contract is incorrect or
misleading, which causes the Lender in loss, then, the Guarantor should make the
compensation for all.

    

    8.
Modification and Transfer of Contract

    

    (A)
Except for the other stipulations made in this Contract, any modification of
this Contract must be discussed by the Guarantor and the Lender with the written
agreement to be reached.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (B) If
the Lender legally transfers the creditor's rights under the Main Contract, the
Guarantor will continue to undertake the joint guarantee responsibility
guaranteed in the scope of this Contract.

    

    (C) If
the Lender allows the Borrower to transfer the debts under the Main Contract,
the written approval should be obtained from the Guarantor, and the Guarantor
will not undertake the guarantee responsibility any more for the transferred
debts that are not agreed by the Guarantor.

    

    (D) In
the course of the guarantee, when there are some changes ( except for the
interest rate of the loan under the Main Contract to be adjusted as per the
People’s Bank of China ) for the interest rate of the loan and the loan amount
to be made by the Lender and the Borrower, which are not agreed by the
Guarantor, if it is for reducing the debts of the Borrower, the Guarantor will
still undertake the guarantee responsibility for the modified contract; if it is
for increasing the debts of the Borrower, the Guarantor will not undertake the
guarantee responsibility any more for the increased part.

    

    If the
Lender and the Borrower make some changes for the fulfillment term of the
repayment plan stipulated under the Main Contract without the written approval
from the Guarantor, the same guarantee term will be the term stipulated in the
original contract or the term as regulated by law.

    

    The
Lender and the Borrower agreed to modify the contents of the Main Contract,
which are not actually carried out, and in this case, the Guarantor will still
undertake the guarantee responsibility.

    

    (E) In
the event that the Lender and the Borrower agree to modify the draw plan
stipulated in the Main Contract, the Guarantor will still undertake the
guarantee responsibility.

    

    9.
Settlement of Disputes

    

    In the
process of fulfilling this Contract, the disputes between the Guarantor and the
Lender should be settled on two party’s consensus; if no agreement can be
reached, the disputes can be resolved through litigation to the People's Court
where the bank branch of the Lender is located.

    
13.
Others

    

    (A) Any
other matters not expressly stated herein shall be resolved through the
Guarantor and the Lender’s consultation, or be dealt with according to the
national laws and regulations.

    

    (B) There
are three copies of the original contract, one of which belongs to the
Guarantor, the Lender and the Borrower, and three copies of
counterparts.

    

    14.
Effectiveness of Contract

    

    This
Contract is effective from the date to be signed and sealed by the Guarantor and
the Lender. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    Guarantor:
(Signature)

    ID No.:
422426195803290012

    

    

    

    Date:

    

    

    Lender:            (sealed
with Contract Stamp)

    

    

    Legal
representative: (signature)

    

    (Or
Authorized Agent)

    

    

    

    Date:

    

    Signed
Venue: Shenzhen Branch, China Development Bank Co., Ltd.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Annex
1

     

    
      List of
Properties of the Guarantor

    

     

    
      	
              Order

            	
              Description

            	
              Title
      No

            	
              Location

            	
              Legal

              Owner

            	
              Amount

              (RMB)

            
	
              1

            	
              Automobile

            	
              BJT418

              (Guangdong)

            	
              Car
      Park,  Block A Galaxy

              Century,
      Futian District,

              Shenzhen,
      China

            	
              Song
      Yi

            	
              961,000

            
	
              2

            	
              Properties

            	 
      	
              4th
      Floor, Block 21,Ba Gua

              Ning,
      Futian District,

              Shenzhen,
      China

            	
              Song
      Yi

            	
              1,083,000

            
	
              3

            	
              Common
      stock

            	
              Sino
      Olympics

              Industrial
      Ltd

              (80%
      stake)

            	
              SINO  OLYMPICS

            	
              Song
      YiUnassociated Document

    
      Exhibit
10.5

      Guarantee
Contract for No.: 4403402912009110028

      

      

      

      

      

      

      China
Development Bank Co., Ltd.

      RMB
Capital

      

      Guarantee
Contract

      

      

      

      

      

      

      Guarantor:
Song Hong

      Lender:
China Development Bank Co., Ltd.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Guarantor:
Song Hong

      Address:
No. 12 Fuxinglu, Yangfangdian, Haidian District, Beijing

      ID No.:
110108196302145010

      Post
Code: 518000

      Tel:
0755-26553580

      Fax:
0755-26634369

      

      Lender:
China Development Bank Co., Ltd.

      Add:
No.29 Fu Cheng Men Wai Dajie, Xicheng District, Beijing, China

       

      Legal
Representative: Chen Yuan

      Postal
Code: 100037

      
        Operation
Branch: China Development Bank Co., Ltd., Shenzhen Branch

      

       

      Branch
Address: 12-15/F,Citic Building,No.1093
Shennanzhonglu,Shenzhen,China

      Branch
Manager: Yu Xiaoping

      Postal
Code: 518031

      Attn:
Deng Yonghong

      Tel:
0755-25987775

      Fax:
0755-25988280

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      To ensure
that the Borrower (“Shenzhen Diguang Electronics Co., Ltd.”) fulfills its loan
contract No. 4403402912009110028 signed with the Lender (hereinafter referred to
as the “Main Contract”), the Guarantor is willing to provide the guarantee to
the Lender. The Guarantor and the Lender have reached an agreement to conclude
this Contract.

      

      1.
Definition

      

      Except
for the other stipulation of this Contract, the terms relating to the definition
in this Contract are the same as the Main Contract.

      

      2. Scope
of Guarantee

      

      Under the
Main Contract, the Borrower borrows RMB30 million that is thirty million Yuan
for one year , that is from the draw down date to the first anniversary of such
date.

      

      The scope
of guarantee includes all principal, interest, default interest, compensation,
liquidated damages, damage awards and costs to gain the right of mortgage of the
borrowed amount as stipulated in the Main Contract (include but not limited to
the litigation or arbitration fees, property preservation fee or evidence
preservation fee, enforcement fee, evaluation fee, auction fee, appraisal fee,
lawyer fee, travel fee and investigation-evidence collection fees,
etc.).

      

      With the
repayment of principal amount borrowed in the Main Contract, the principal
amount secured under this Contract reduces correspondingly.

      

      3. Forms
of Guarantee

      

      The
Guarantor will provide the unlimited and joint obligation guarantee to the
Lender as specified under the scope of guarantee in this Contract with all his
personal properties (including the property that belongs to the Guarantor in all
the personal and husband-wife joint properties).

      

      No matter
whether or not the Borrower provides the material guarantee for the Main
Contract, if the Borrower fails to repay the loan under the guarantee scope of
this Contract, the Lender has the right to directly demand the Guarantor to
undertake the guarantee responsibility, and the Guarantor should make the
settlement within 5 days after receiving the written notice for fulfilling the
guarantee responsibility.

      

      4.
Guarantee Period

      

      The
guarantee period of this Contract is two years starting from the expiry date of
the fulfillment period of each liability under the Main Contract.

      

      5.
Representations and Warranties given by Guarantor

      

      (A) The
Guarantor is a citizen of P.R.China and has entire civil ability at the time
when this Contract is executed.

      

      (B) For
the Guarantor, there is neither the personal liability nor any influence on the
litigation or arbitration for the status of his personal property.

      

      (C) The
Guarantor has the full right and power to sign this Contract and to make the
transactions under this Contract.  This Contract is effectively signed
by the Guarantor.

      

      (D) All
documents and materials provided by the Guarantor to the Lender are true,
accurate and complete.

      

      (E) The
financial status of the Guarantor is sufficient to ensure that he is able to
fulfill the guarantee responsibility.

      

      (F) The
Guarantor is willing to undertake the joint guarantee responsibility with all
his owned properties.

       

      (G) The
Guarantor agrees to provide a list showing all his personal properties (Annex 1)
to the Lender. If the Lender thinks it necessary, an evaluation of the listed
properties can be made with the evaluation fee to be undertaken by the
Guarantor.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      (H) The
Guarantor undertakes to own the entire ownership (or disposition) of the listed
properties. If the Lender thinks that it is necessary, an insurance policy can
be made to part of its properties or the mortgage or pledge implementation (if
the mortgage or pledge is made, the mortgage or pledge contract should be
separately signed) is carried out, and the Guarantor undertakes to coordinate in
going through the relevant registration formalities.

      

      (I) The
Guarantor ensures that he will unconditionally undertake the joint
responsibility guarantee and be committed to give up all the
defenses.

      

      The above
representations and warranties are effective within the effective term of this
Contract.

      

      6.
Obligations of the Guarantor 

      

      (A)
Starting from the execution date of this Contract, the Guarantor is not allowed
to dispose his property at his discretion (including but not limited to the
mortgage, pledge, transfer and give-off, etc.) unless written approval is
obtained from the Lender. 

      

      (B)
Starting from the execution date of this Contract, if the Guarantor intends to
rent his property for long term or make the modification to the fixed mortgage
or pledge, etc., the permission should be obtained in advance from the Lender.
It will be void for the Guarantor’s above act without the Lender’s
permission.

      

      (C) The
Guarantor will deliver the other materials on time, which are required by the
Lender.

      

      (D) The
Guarantor should continue to comply with and fulfill all the relevant
obligations and responsibilities in connection with and as the shareholders of
the Company.

      

      (E) If
any incidents which affect or may affect the fulfillment of any obligation from
the Guarantor under this Contract happen, the Guarantor should notify the Lender
timely.

      

      (F)
Before the termination of the guarantee responsibility under this Contract, it
is not allowed for the Guarantor to provide guarantee to any third party unless
written approval is obtained from the Lender.

      

      (G) After
the execution of this Contract, the Guarantor should not increase its debt
liability ( or to be sufficient to affect the guarantee ability under this
Contract) unless written approval is obtained from the Lender.

      

      (H) The
Guarantor should not sign any document that may be harmful to the Lender’s
interests or is engaged in any act that may be harmful to the Lender’s
interests.

      

      (I)
Before the termination of the guarantee responsibility under this Contract, if
the Guarantor intends to change his nationality or apply for the permanent right
of abode to the other country (except the obtained right), it should be agreed
by the Lender and be handled after the discussion with the Lender for the
relevant matters.

      

      (J) If
some material changes take place at the domicile or the working unit, etc. of
the Guarantor, the Lender should be notified in writing 10 days in advance, with
the relevant documents to be provided to the Lender for record.

      

      (K) The
Guarantor will undertake all the expenses that occur in the process of the
execution and fulfillment of this Contract.

      

      7.
Liability for breach of contract

      

      If the
Guarantor breaches this Contract stipulations or it is proved that his
representations or warranties in Clause 5 of this Contract is incorrect or
misleading, which causes the Lender in loss, then, the Guarantor should make the
compensation for all.

      

      8.
Modification and Transfer of Contract

      

      (A)
Except for the other stipulations made in this Contract, any modification of
this Contract must be discussed by the Guarantor and the Lender with the written
agreement to be reached.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      (B) If
the Lender legally transfers the creditor's rights under the Main Contract, the
Guarantor will continue to undertake the joint guarantee responsibility
guaranteed in the scope of this Contract.

      

      (C) If
the Lender allows the Borrower to transfer the debts under the Main Contract,
the written approval should be obtained from the Guarantor, and the Guarantor
will not undertake the guarantee responsibility any more for the transferred
debts that are not agreed by the Guarantor.

      

      (D) In
the course of the guarantee, when there are some changes ( except for the
interest rate of the loan under the Main Contract to be adjusted as per the
People’s Bank of China ) for the interest rate of the loan and the loan amount
to be made by the Lender and the Borrower, which are not agreed by the
Guarantor, if it is for reducing the debts of the Borrower, the Guarantor will
still undertake the guarantee responsibility for the modified contract; if it is
for increasing the debts of the Borrower, the Guarantor will not undertake the
guarantee responsibility for the increased part.

      

      If the
Lender and the Borrower make some changes for the fulfillment term of the
repayment plan stipulated under the Main Contract without the written approval
from the Guarantor, the same guarantee term will be the term stipulated in the
original contract or the term as regulated by law.

      

      The
Lender and the Borrower agreed to modify the contents of the Main Contract,
which are not actually carried out, and in this case, the Guarantor will still
undertake the guarantee responsibility.

      

      (E) In
the event that the Lender and the Borrower agree to modify the draw plan
stipulated in the Main Contract, the Guarantor will still undertake the
guarantee responsibility.

      

      9.
Settlement of Disputes

      

      In the
process of fulfilling this Contract, the disputes between the Guarantor and the
Lender should be settled on two party’s consensus; if no agreement can be
reached, the disputes can be resolved through litigation to the People's Court
where the bank branch of the Lender is located.

      
13.
Others

      

      (A) Any
other matters not expressly stated herein shall be resolved through the
Guarantor and the Lender’s consultation, or be dealt with according to the
national laws and regulations.

      

      (B) There
are three copies of the original contract, one of which belongs to the
Guarantor, the Lender and the Borrower, and three copies of
counterparts.

      

      14.
Effectiveness of Contract

      

      This
Contract is effective from the date to be signed and sealed by the Guarantor and
the Lender. 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
Guarantor:
(Signature)

      ID No.:
110108196302145010

      

      

      

      

      Date:

      

      

      Lender:            (sealed
with Contract Stamp)

      

      

      Legal
representative: (signature)

      

      (Or
Authorized Agent)

      

      

      

      Date:

      

      

      

      

      Signed
Venue: Shenzhen Branch, China Development Bank Co., Ltd.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Annex
1

      List of
Properties of the Guarantor

      

      
        	
                Order

              	
                Description

              	
                Title
      No

              	
                Location

              	
                Legal

                Owner

              	
                Amount

                (RMB)

              
	
                1

              	
                Automobile

              	
                B2H539

                (Guangdong)

              	
                Car
      Park,  Block A Galaxy

                Century,
      Futian District,

                Shenzhen,
      China

              	
                Song
      Hong

              	
                320,000

              
	
                2

              	
                Properties

              	 
      	
                No,12,
      Fu Xing Road, Yang

                Fang
      Dian, Hai Ding District,

                Beijing,
      China

              	
                Song
      Hong

              	
                1,245,000

              
	
                3

              	
                Common
      stock

              	
                Sino
      Olympics

                Industrial
      Ltd

                (20%
      stake)

              	
                SINO  OLYMPICS

              	
                Song
      Hong

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