Document:

EQUITY
INTEREST PLEDGE AGREEMENT

    

    This
Equity Interest Pledge Agreement (hereinafter referred to as “Agreement”) is entered into
by and between the following Parties effective in Weifang, Shandong Province,
People’s Republic of China (hereinafter referred to as the “PRC”) as of February 1,
2011.

    

    
      	
              Pledgee:

            	
              Beijing Binhai Yintai
      Technology Co., Ltd., a wholly
      foreign-owned enterprise duly established and validly existing under the
      laws of the PRC.

            

    

    Registered Address: Room 2006, Floor 20, Qingyun
Dangdai Plaza, Building 9
of Mantingfangyuan Community, Qingyunli, Haidian District, Beijing,
PRC.

    

    
      	
              Pledgor:

            	
              (1)
      YANG
      Chunbin, a citizen of
      the PRC.

            

    

    ID No.
370703196303303016

    Address: Haiwang Street, Yangzi Community,
Coastal Economic
Zone, Weifang,
Shandong Province,
PRC

     

     (2) SUN Tongjiang, a citizen
of the PRC.

    PRC
Passport No. 370206196901121652

    Address:
Haiwang Street, Yangzi Community, Coastal Economic Zone, Weifang, Shandong
Province, PRC

    

    (3) LIU Shangxue, a citizen of
the PRC.

    ID No.
370703195303183056

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

     

    (4) CUI Xiusheng, a citizen of
the PRC.

    ID No.
370703196209223036

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

     

    (5) LU Junyou, a citizen of
the PRC.

    ID No.
370703195507083030

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (6) WANG Yunyu, a citizen of
the PRC.

    ID No.
370703195208153019

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (7) MU Zuolei, a citizen of
the PRC.

    ID No.
370703197410270058

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (8) MU Sisheng, a citizen of
the PRC.

    ID No.
370703195606183053

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (9) HOU Junhua, a citizen of
the PRC.

    ID No.
370703196712244133

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (10) CUI Huabei, a citizen of
the PRC.

    ID No.
370703196206143014

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (11) XU Xiuzhi, a citizen of
the PRC.

    ID No.
370703196104020881

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (12) XU Dayong, a citizen of
the PRC.

    ID No.
37070319630813301X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (13) WANG Bintang, a citizen
of the PRC.

    ID No.
370703195708043019

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (14) LIU Zhixia, a citizen of
the PRC.

    ID No.
370703196411143048

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (15) CUI Tongjing, a citizen
of the PRC.

    ID No.
370703196201203030

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

     

    
      
        
        

      

      
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    (16) XU Shigang, a citizen of
the PRC.

    ID No.
370703197212180051

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (17) CUI Tonglin, a citizen of
the PRC.

    ID No.
370703195508253011

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (18) XU Jieguo, a citizen of
the PRC.

    ID No.
370703195503163519

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (19) WANG Chuanqiang, a
citizen of the PRC.

    ID No.
370703197009282280

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (20) SUN Zhipeng, a citizen of
the PRC.

    ID No.
37070319630207301X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (21) SHEN Zhaofa, a citizen of
the PRC.

    ID No.
37070319710211351X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (22) LU Junping, a citizen of
the PRC.

    ID No.
370703196406193139

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (23) XU Jiechang, a citizen of
the PRC.

    ID No.
370703196304253575

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (24) ZHU Yuanhong, a citizen
of the PRC.

    ID No.
370728196808232871

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

     

    
      
        
        

      

      
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    (25) ZHU Jiuquan, a citizen of
the PRC.

    ID No.
370703197208020012

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (26) LIN Chunhui, a citizen of
the PRC.

    ID No.
37070319730618001X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (27) CUI Zhuande, a citizen of
the PRC.

    ID No.
37070319650312301X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (28) WANG Xinhua, a citizen of
the PRC.

    ID No.
370703196903083010

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (29) ZHU Linsheng, a citizen
of the PRC.

    ID No.
32052119661129701X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (30) WU Jincai, a citizen of
the PRC.

    ID No.
37070319640820302X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (31) YANG Xiaoyang, a citizen
of the PRC.

    ID No.
370703199001070329

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (32) YANG Chunxiang, a citizen
of the PRC.

    ID No.
370703197303280015

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (33) ZHU Xiaolei, a citizen of
the PRC.

    ID No.
110105198404023639

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

     

    
      
        
        

      

      
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    (the
thirty-three persons aforementioned are collectively referred to as “Pledgor”)

    

    WHEREAS, Plegdee is a wholly foreign-owned
enterprise duly established and validly existing in Beijing under the laws of
the PRC. With the approval of relevant PRC authorities, it is permitted to
engage in research and development of application software, computer system
integration, technical consulting and service, training, technology transfer,
sale of products developed by the company itself. Pledgee and Shandong Haiwang
Chemical Stock Co., Ltd., entered into an Exclusive Technical and Consulting
Service Agreement effective as of February 1, 2011 (hereinafter referred to as
“Service
Agreement”).

    

    WHEREAS, Pledgor is citizen of the PRC and collectively holds a 100% equity
interest in Shandong Haiwang Chemical Stock Co.,
Ltd., which is a joint stock company duly established and validly existing under the laws of the
PRC.

    

    WHEREAS, in order to ensure that Pledgee collects
the Consulting Service Fee (as such term is defined in the Service
Agreement) from Shandong Haiwang Chemical Stock Co., Ltd., Pledgor is willing to
pledge all of its equity interest in Shandong Haiwang Chemical Stock Co., Ltd.
as security.

    

    NOW THEREFORE, intending to be
bound hereby and for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Parties hereto agree as
follows:

    

    ARTICLE I

    

    DEFINITIONS

    

    Unless it is otherwise stipulated, for
the purpose of this Agreement, the following terms shall have the following
meanings:

    

    
      	
              1.1

            	
              Pledge shall have the meaning assigned
      to it in Article II of this
      Agreement.

            

    

    

    
      	
              1.2 

            	
              Equity Interest
      shall mean the 100%
      equity interest in Shandong Haiwang Chemical Stock
      Co., Ltd., collectively held by
      Pledgee.

            

    

    

    
      	
              1.3

            	
              Rate of
      Pledge shall mean the
      ratio between the value of the Pledge under this Agreement and the Consulting Service Fee under
      the Service Agreement.

            

    

    

    
      	
              1.4

            	
              Term of Pledge
      shall mean the period
      provided for in
      Article
      3.2.

            

    

    

    
      	
              1.5 

            	
              Service
      Agreement shall mean
      the Exclusive Technical and Consulting Service Agreement entered into by and between
      Shandong Haiwang Chemical Stock Co.,
      Ltd. and Pledgee effective as of
      February 1, 2011.

            

    

    

    
      	
              1.6 

            	
              Event of
      Default shall
      have the meaning
      assigned to it in Article VII.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              1.7 

            	
              Notice of
      Default shall mean
      the notice of default issued by Pledgee in accordance with this
      Agreement.

            

    

    

    ARTICLE II

    

    PLEDGE

    

    
      	
              2.1

            	
              Pledgor pledges the Equity
      Interest in
      Shandong Haiwang
      Chemical Stock Co., Ltd. as security for the payment of the
      Consulting Service Fee payable to Pledgee under the Service
      Agreement.

            

    

    

    
      	
              2.2

            	
              Pledgee, by virtue of the Pledge, shall
      be entitled to have priority in receiving any payment or proceeds from the auction or sale
      of the Equity Interest pledged by Pledgor to
    Pledgee.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    ARTICLE III

    

    RATE OF PLEDGE AND TERM OF
PLEDGE

    

    
      	
              3.1

            	
              The Rate of
      Pledge:

            

    

    

    The Rate of Pledge shall be 100% under
this Agreement.

    

    
      	
              3.2

            	
              The Term of
      Pledge:

            

    

    

    
      	
               
      

            	
              3.2.1

            	
              The Pledge shall take effect as of the date that the
      Pledge is recorded in the register of shareholders of Shandong Haiwang Chemical Stock Co.,
      Ltd. and shall remain effective
      so long as this Agreement remains in
effect.

            

    

    

    
      	
               
      

            	
              3.2.2

            	
              During the term of Pledge, Pledgee
      shall be entitled to
      foreclose on the Pledge in accordance with this Agreement in the event
      Shandong Haiwang
      Chemical Stock Co., Ltd. fails to pay the Consulting
      Service Fee in accordance with the Service
    Agreement.

            

    

    

    ARTICLE IV

    

    PHYSICAL POSSESSION OF PLEDGE
DOCUMENTS

    

    
      	
              4.1

            	
              During the term of the Pledge, Pledgee
      shall be entitled to possess the contribution certificate of the Equity
      Interest (the “Contribution
      Certificate”) and the register of shareholders
      of Shandong Haiwang Chemical Stock
      Co., Ltd. Pledgor shall deliver the
      Contribution
      Certificate and the register of shareholders hereunder to Pledgee within
      one week after the date of this
  Agreement.

            

    

    

    
      	
              4.2

            	
              Pledgee shall be entitled to
      collect any dividends from the Equity Interest during the term of the
      Pledge.

            

    

    

    ARTICLE V

    

    REPRESENTATIONS AND WARRANTIES OF
PLEDGOR

    

    
      	
              5.1

            	
              Pledgor is the legal owner of the
      Equity Interest.

            

    

    

    
      	
              5.2

            	
              At any time Pledgee exercises its
      right under this Agreement, it shall be free from any
      interference.

            

    

    

    
      	
              5.3

            	
              Pledgee has the right to exercise
      or transfer the Pledge in accordance with this
      Agreement.

            

    

    

    
      	
              5.4

            	
              Pledgor shall not pledge or
      encumber the Equity Interest to any other person except for
      Pledgee.

            

    

     

    
      
        
        

      

      
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    ARTICLE VI

    

    COVENANTS OF PLEDGOR

    

    
      	
              6.1

            	
              During the term of this Agreement,
      Pledgor covenants to Pledgee as
follows:

            

    

    

    
      	
               
      

            	
              6.1.1

            	
              Except
      for the transfer of the Equity Interest in accordance with the Exclusive
      Equity Interest Purchase Agreement entered into by and among Pledgor,
      Pledgee and Shandong Haiwang Chemical Stock Co., Ltd., the Pledgor shall
      not transfer or assign the Equity Interest or create or permit to be
      created any pledge which may have an adverse affect on the rights or
      benefits of Pledgee without prior written consent from
      Pledgee.

            

    

    

    
      	
               
      

            	
              6.1.2

            	
              Pledgor shall comply with all laws and
      regulations with respect to the right of Pledge, present
      Pledgee any notices,
      orders or suggestions relating to the Pledge issued or made by a relevant
      authority after receiving such notices, orders or suggestions and comply
      with such notices, orders or suggestions or object to the foregoing
      matters at the reasonable request of Pledgee or with the written consent
      of Pledgee.

            

    

    

    
      	
               
      

            	
              6.1.3

            	
              Pledgor shall timely notify
      Pledgee of any events
      or the receipt of any notice which may affect the Equity Interest or any
      part of its right, which may change any of Pledgor’s covenants and obligations under this Agreement or
      which may affect Pledgor’s performance of its
      obligations under this
      Agreement.

            

    

    

    
      	
              6.2

            	
              Pledgor agrees that Pledgee’s right to exercise the Pledge
      shall not be suspended or hampered through any legal procedure instituted
      by Pledgor, any
      successors of Pledgor
      or any person authorized by Pledgor.

            

    

    

    
      	
              6.3

            	
              Pledgor warrants to execute in good faith
      and cause other parties who may have any interest in the Pledge to execute
      all title certificates, contracts or other documents, and/or perform
      and cause other
      parties who have interests to take action as required by
      Pledgee and provide access
      to exercise the rights and authorization vested in Pledgee under this Agreement, and execute
      all the documents with respect to the Equity Interest and promptly provide all the notices, orders
      and decisions related to the Equity Interest and deemed necessary by
      Pledgee to Pledgee within a reasonable time.

            

    

    

    
      	
              6.4

            	
              Pledgor
      warrants that it will comply
      with and perform all the guarantees, covenants, agreements,
      representations and
      conditions hereunder for the benefit of Pledgee. Pledgor shall compensate Pledgee
      for all losses suffered in
      the event that Pledgor does not fully perform its
      guarantees, covenants, agreements, representations or conditions hereunder
      and causes any damage
      to Pledgee.

            

    

    

    
      
        
        

      

      
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    ARTICLE VII

    

    EVENTS OF DEFAULT

    

    
      
        	
                7.1

              	
                The occurrence of any of the
      events listed below shall be deemed as an Event of
      Default:

              

      

    

    

    
      	
               
      

            	
              7.1.1

            	
              Failure by Shandong Haiwang Chemical Stock
      Co., Ltd. to make full payment of the
      Consulting Service Fee, as provided under the Service
      Agreement.

            

    

    

    
      	
               
      

            	
              7.1.2

            	
              Pledgor makes any material
      misleading or fraudulent representations or warranties under Article 5
      herein.

            

    

    

    
      	
               
      

            	
              7.1.3

            	
              Pledgor violates any of the
      covenants under Article 6
herein.

            

    

    

    
      	
               
      

            	
              7.1.4

            	
              Pledgor violates any of the terms
      or conditions hereof.

            

    

    

    
      	
               
      

            	
              7.1.5

            	
              Pledgor waives the pledged Equity
      Interest or transfers or assigns the pledged Equity Interest without the
      prior written consent of Pledgee, except as provided in Article 6.1.1 in
      this Agreement.

            

    

    

    
      	
               
      

            	
              7.1.6

            	
              Any loan, security, compensation,
      covenant or other
      compensation liability of Pledgor (i) is required to be paid or performed
      in advance because of an event of default; or (ii) is due but cannot be
      paid or performed, which makes Pledgee reasonably believe
      Pledgor’s capability of performing under
      this Agreement has been
      affected.

            

    

    

    
      	
               
      

            	
              7.1.7

            	
              Pledgor is incapable of paying its
      general debt or other debt.

            

    

    

    
      	
               
      

            	
              7.1.8

            	
              The promulgation of relevant laws
      makes the performance of this Agreement illegal or makes Pledgor unable to
      perform its obligations under this
  Agreement.

            

    

    

    
      	
               
      

            	
              7.1.9

            	
              The withdrawal, suspension, invalidation
      or material revision of any approval, permit or authorization from the
      relevant authorities needed to perform or validate this
      Agreement.

            

    

    

    
      	
            	
              7.1.10

            	
              Any adverse change in the property
      of Pledgor that causes Pledgee to reasonably believe that Pledgor may be unable
      to perform its obligations
hereunder.

            

    

    

    
      	
            	
              7.1.11

            	
              The inability or refusal by any
      successor or assignee of Shandong Haiwang Chemical Stock
      Co., Ltd. to pay the amounts due under the
      Service Agreement.

            

    

    

    
      	
            	
              7.1.12

            	
              The occurrence of any other
      circumstances whereby
      Pledgee becomes incapable of exercising its right to foreclose on the
      Pledge.

            

    

    

    
      
        	
                7.2

              	
                Pledgor must immediately notify
      Pledgee in writing if Pledgor knows or is aware of any event stipulated in
      Article 7.1 or events that may reasonably lead to any event stipulated in Article
      7.1.

              

      

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      
        	
                7.3

              	
                Unless the event of default
      stipulated in Article
      7.1 has been remedied
      to Pledgee’s sole and absolute satisfaction,
      Pledgee may (i) give a written notice of default to Pledgor and require
      Pledgor to immediately make full payment of the outstanding
      Consulting Service
      Fee under the Service
      Agreement and other payables or (ii) foreclose on the Pledge in accordance
      with Article 8 herein.

              

      

    

    

    ARTICLE VIII

    

    EXERCISE OF THE RIGHT OF THE
PLEDGE

    

    
      	
              8.1

            	
              Prior to full payment of the
      Consulting Service
      Fee under the Service Agreement, Pledgor shall not transfer or assign the
      Equity Interest without prior written approval from Pledgee.

            

    

    

    
      	
              8.2

            	
              Pledgee shall give Notice of Default to
      Pledgor when Pledgee exercises its right to foreclose
      on the Pledge.

            

    

    

    
      	
              8.3

            	
              Subject to Article 7.3 herein,
      Pledgee may exercise the right to
      foreclose on the Pledge at any time following written Notice of
      Default.

            

    

    

    
      	
              8.4

            	
              Pledgee is entitled to priority receipt
      of any payment or proceeds from the auction or sale of all or part of
      the Equity Interest
      pledged herein in accordance with applicable law until the outstanding
      Consulting Service Fee and all other payables under the Service Agreement
      are fully repaid.

            

    

    

    
      	
              8.5

            	
              Pledgor shall not hinder Pledgee from foreclosing on the Pledge in
      accordance with this
      Agreement and shall give necessary assistance so that Pledgee may effectively realize the value
      of the Pledge.

            

    

    

    ARTICLE IX

    

    TRANSFER OR
ASSIGNMENT

    

    
      	
              9.1

            	
              Pledgor shall not grant or
      transfer its rights or obligations hereunder without prior written consent from Pledgee.

            

    

    

    
      	
              9.2

            	
              This Agreement shall be binding
      upon and inure to the benefit of Pledgor and the successors of Pledgor.

            

    

    

    
      	
              9.3

            	
              Pledgee may transfer or assign all or any
      rights and obligations under the Service Agreement to any person (natural
      person or legal
      entity) at any time.  Any assignee shall enjoy and undertake the
      same rights and obligations herein of Pledgee as if the assignee is a party
      hereto.  To the extent Pledgee transfers or assigns its rights
      and obligations under the Service Agreement, at the request of
      Pledgee, Pledgor shall execute the relevant
      agreements and/or documents with respect to such transfer or
      assignment.

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	
              9.4

            	
              Upon Pledgee’s transfer or assignment, the new
      parties to the Pledge shall re-execute a Pledge
      contract.

            

    

    

    ARTICLE X

    

    TERMINATION

    

    
      	
              10.1

            	
              This
      Agreement shall expire on the date that is twenty years following the date
      hereof, and this Agreement may be extended prior to termination upon
      written agreement executed by each
Party.

            

    

     

    ARTICLE XI

    

    FORMALITIES FEES AND OTHER EXPENSES

    

    
      	
              11.1

            	
              Pledgor shall be responsible for
      all fees and actual expenditures in relation to this Agreement, including,
      but not limited to, legal fees, costs of production, stamp tax and any
      other taxes and charges.  If Pledgee pays the relevant taxes in
      accordance with the
      laws, Pledgor shall fully reimburse Pledgee for any such taxes it
      pays.

            

    

    

    
      	
              11.2

            	
              Pledgor shall be responsible for
      all fees, including, but not limited to, any taxes, formalities fees,
      management fees, litigation fees, attorney’s fees, and various insurance premiums in connection
      with disposition of the Pledge, incurred by Pledgor as a result of the
      failure of Pledgor to pay any payable taxes, fees or charges in accordance
      with this Agreement, or as a result of the fact that Pledgee has recourse
      to any foregoing taxes, charges or
      fees by any means or for any other
  reasons.

            

    

    

    ARTICLE XII

    

    FORCE MAJEURE

    

    
      	
              12.1

            	
              If the fulfillment of this
      Agreement is delayed or blocked due to a Force Majeure Event (as defined
      below), the Party affected by such a Force Majeure Event shall be free
      from any obligation to the extent of such delay or holdback. As used
      herein, the term “Force Majeure Event” shall mean any event which is out
      of the control of either Party, and which is unavoidable or insurmountable
      even if the Party affected by such event paid reasonable attention to it.
      A Force Majeure Event shall include, but not be limited to, government
      actions, natural disaster, fire, explosion, typhoons, floods, earthquakes,
      tide, lightning or war. However, any lack of credit, assets or financing
      shall not be deemed as a Force Majeure Event. The Party claiming the
      occurrence of a Force Majeure Event shall inform the other Party and
      provide the other Party with the steps of fulfilling the obligations of
      this Agreement.

            

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    
    

    
      	
              12.2

            	
              The
      Party affected by such a
      Force Majeure Event shall be free from any obligation under this
      Agreement to the extent it
      is delayed or impeded provided that the Party affected by such
      a Force Majeure Event
      has made reasonable endeavors to perform the Agreement. Upon
      termination of the Force Majeure Event, the Parties agree to use
      reasonable best efforts to complete the transactions contemplated by this
      Agreement.

            

    

    

    ARTICLE XIII

    

    DISPUTE SETTLEMENT

    

    
      	
              13.1

            	
              This
      Agreement shall be governed by and construed in all respects in accordance
      with the laws of the PRC.

            

    

    

    
      	
              13.2

            	
              The
      Parties shall strive to settle any dispute arising from the interpretation
      or performance, or in connection with this Agreement through mutual
      agreement and negotiation.  In case no settlement can be reached
      through consultation, each Party may submit such matter to the China
      International Economic and Trade Arbitration Committee for arbitration.
      The arbitration shall be held in Beijing. The arbitration proceedings
      shall be conducted in Chinese. The arbitration award shall be final and
      binding upon the Parties.  The arbitration award may be
      submitted to any court with jurisdiction for
  enforcement.

            

    

    

    ARTICLE XIV

    

    NOTICES

    

    
      	
              14.1

            	
              Any
      notice which is given by the Parties for the purpose of performing the
      rights and obligations hereunder shall be in writing. Where such notice is
      delivered personally, the time of notice shall be the time when such
      notice actually reaches the addressee. Where such notice is transmitted by
      telex or facsimile, the notice time shall be the time when such notice is
      transmitted. If such notice does not reach the addressee on a business
      date or reaches the addressee after the business time, the date of notice
      shall be the next business day. The delivery place shall be the address
      first written above for each Party hereto or any other address provided to
      the other Parties in writing from time to time. Written method includes
      fax and telefax.

            

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    ARTICLE XV

    

    APPENDIX

    

    
      
        	
                15.1

              	
                The Appendix of this Agreement as
      attached hereto is part of this Agreement.

              

      

    

    

    ARTICLE XVI

    

    EFFECTIVENESS

    

    
      	
              16.1

            	
              This Agreement and any amendments,
      supplements and modifications shall be in writing and come into effect
      upon execution by the Parties
hereto.

            

    

    

    
      	
              16.2

            	
              This Agreement is executed both in
      Chinese and English in one or more original or facsimile counterparts. The
      Chinese version will prevail in the event of any inconsistency between the
      English and any Chinese translations
  thereof.

            

    

     

    [Remainder
of Page Left Intentionally Blank – Signature Page Follows]

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    [Equity
Interest Pledge Agreement – Signature Page]

     

    IN WITNESS WHEREOF, the
Parties have executed this Agreement on the date first above
written.

        

    
      
        
          
            
              	
                      Pledgee:

                    
	
                      Beijing
      Binhai Yintai Technology Co., Ltd.

                    
	
                      By:

                    	/s/
      Yang Chunbin
	
                      Name:

                    	Yang
      Chunbin
	
                      Its:

                    	Legal
      Representative

            

          

        

      

    

    

    Pledgor:

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                
                                                                                  
                                                                                    
                                                                                      
                                                                                        
                                                                                          
                                                                                            
                                                                                              
                                                                                                
                                                                                                  
                                                                                                    
                                                                                                      
                                                                                                        
                                                                                                          
                                                                                                            
                                                                                                              
                                                                                                                
                                                                                                                  
                                                                                                                    
                                                                                                                      
                                                                                                                        
                                                                                                                          
                                                                                                                            
                                                                                                                              
                                                                                                                                
                                                                                                                                  
                                                                                                                                    
                                                                                                                                      
                                                                                                                                        
                                                                                                                                          
                                                                                                                                            
                                                                                                                                              
                                                                                                                                                
                                                                                                                                                  
                                                                                                                                                    
                                                                                                                                                      	
                                                                                                                                                              (1)YANG
      Chunbin

                                                                                                                                                            	/s/
      Yang Chunbin
	 	 
	
                                                                                                                                                              (2)SUN
      Tongjiang

                                                                                                                                                            	/s/
      Sun Tongjiang
	 	 
	
                                                                                                                                                              (3)LIU
      Shangxue

                                                                                                                                                            	/s/
      Liu Shangxue
	 	 
	
                                                                                                                                                              (4)CUI
      Xiusheng

                                                                                                                                                            	/s/
      Cui Xiusheng  
	 	 
	
                                                                                                                                                              (5)LU
      Junyou

                                                                                                                                                            	/s/
      Lu Junyou  
	 	 
	
                                                                                                                                                              (6)WANG
      Yunyu

                                                                                                                                                            	/s/
      Wang Yunyu  
	 	 
	
                                                                                                                                                              (7)MU
      Zuolei

                                                                                                                                                            	/s/
      Mu Zuolei
	 	 
	
                                                                                                                                                              (8)MU
      Sisheng

                                                                                                                                                            	/s/
      Mu Sisheng 
	 	 
	
                                                                                                                                                              (9)HOU
      Junhua

                                                                                                                                                            	/s/ Hou
      Junhua   
	 	 
	
                                                                                                                                                              (10)CUI
      Huabei

                                                                                                                                                            	/s/ Cui Huabei  
	 	 
	
                                                                                                                                                              (11)XU
      Xiuzhi

                                                                                                                                                            	/s/
      Xu Xiuzhi  
	 	 
	
                                                                                                                                                              (12)XU
      Dayong

                                                                                                                                                            	/s/
      Xu Dayong  
	 	 
	
                                                                                                                                                              (13)WANG
      Bintang    

                                                                                                                                                            	/s/
      Wang Bintang  
	 	 
	
                                                                                                                                                              (14)LIU
      Zhixia

                                                                                                                                                            	/s/
      Liu Zhixia 

                                                                                                                                                    

                                                                                                                                                  

                                                                                                                                                

                                                                                                                                              

                                                                                                                                            

                                                                                                                                          

                                                                                                                                           

                                                                                                                                          
                                                                                                                                            
                                                                                                                                              
                                                                                                                                              

                                                                                                                                            

                                                                                                                                            
                                                                                                                                              14

                                                                                                                                              
                                                                                                                                                

                                                                                                                                              

                                                                                                                                            

                                                                                                                                            
                                                                                                                                              
                                                                                                                                              

                                                                                                                                            

                                                                                                                                          

                                                                                                                                        

                                                                                                                                      

                                                                                                                                    

                                                                                                                                  

                                                                                                                                

                                                                                                                              

                                                                                                                            

                                                                                                                          

                                                                                                                        

                                                                                                                      

                                                                                                                    

                                                                                                                  

                                                                                                                

                                                                                                              

                                                                                                            

                                                                                                          

                                                                                                        

                                                                                                      

                                                                                                    

                                                                                                  

                                                                                                

                                                                                              

                                                                                            

                                                                                          

                                                                                        

                                                                                      

                                                                                    

                                                                                  

                                                                                

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
          
            	
                    (15)CUI
      Tongjing

                  	/s/
      Cui Tongjing
	 	 
	
                    (16)XU
      Shigang

                  	/s/
      Xu Shigang  
	 	 
	
                    (17)CUI
      Tonglin

                  	/s/ Cui Tonglin  
	 	 
	
                    (18)XU
      Jieguo

                  	/s/
      Xu Jieguo  
	 	 
	
                    (19)WANG
      Chuanqiang    

                  	/s/
      Wang Chuanqiang  
	 	 
	
                    (20)SUN
      Zhipeng

                  	/s/
      Sun Zhipeng  
	 	 
	
                    (21)SHEN
      Zhaofa

                  	/s/
      Shen Zhaofa  
	 	 
	
                    (22)LU
      Junping

                  	/s/
      Lu Junping  
	 	 
	
                    (23)XU
      Jiechang

                  	/s/ Xu Jiechang  
	 	 
	
                    (24)Zhu
      Yuanhong

                  	/s/
      Zhu Yuanhong  
	 	 
	
                    (25)ZHU
      Jiuquan

                  	/s/
      Zhu Jiuquan  
	 	 
	
                    (26)LIN
      Chunhui

                  	/s/ Lin Chunhui  
	 	 
	
                    (27)CUI
      Zhuande

                  	/s/ Cui Zhuande  
	 	 
	
                    (28)WANG
      Xinhua

                  	/s/
      Wang Xinhua  
	 	 
	
                    (29)ZHU
      Linsheng

                  	/s/
      Zhu Linsheng  
	 	 
	
                    (30)  WU
      Jincai

                  	/s/
      Wu Jincai  
	 	 
	
                    (31)YANG
      Xiaoyang

                  	/s/
      Yang Xiaoyang 
	 	 
	
                    (32)YANG
      Chunxiang

                  	/s/
      Yang Chunxiang  
	 	 
	
                    (33)ZHU
      Xiaolei

                  	/s/
      Zhu Xiaolei  

          

        

      

    

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    APPENDIX

    

    
      	
              1.

            	
              The
      register of the shareholders of Shandong Haiwang Chemical Stock Co.,
      Ltd.

            

    

    

    
      	
              2.

            	
              The
      Contribution Certificate of Shandong Haiwang Chemical Stock Co.,
      Ltd.

            

    

    

    
      	
              3.

            	
              The
      Exclusive Technical and Consulting Service Agreement by and between
      Beijing Binhai Yintai Technology Co., Ltd. and Shandong Haiwang Chemical
      Stock Co., Ltd.EXCLUSIVE
EQUITY INTEREST PURCHASE AGREEMENT

     

    
    

    This
Exclusive Equity Interest Purchase Agreement (hereinafter referred to
as “Agreement”) is
entered into by and among the following parties effective in Weifang, Shandong
Province, People’s Republic of China (hereinafter referred to as the “PRC”) as of February 1,
2011.

    

    
      	
              Party
      A:

            	
              Beijing Binhai Yintai
      Technology Co., Ltd., a wholly foreign-owned
      enterprise duly established and validly existing under the laws of the
      PRC.

            

    

    Registered Address: Room 2006, Floor 20, Qingyun Dangdai
Plaza, Building 9 of Mantingfangyuan Community, Qingyunli, Haidian District,
Beijing, PRC.

    

    
      	
              Party
      B:

            	
              (1)
      YANG
      Chunbin, a citizen of
      the PRC.

            

    

    ID No.
370703196303303016

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

     

    (2) SUN Tongjiang, a citizen
of the PRC.

    PRC
Passport No. 370206196901121652

    Address:
Haiwang Street, Yangzi Community, Coastal Economic Zone, Weifang, Shandong
Province, PRC

    

    (3) LIU Shangxue, a citizen of
the PRC.

    ID No.
370703195303183056

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

     

    (4) CUI Xiusheng, a citizen of
the PRC.

    ID No.
370703196209223036

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

     

    (5) LU Junyou, a citizen of
the PRC.

    ID No.
370703195507083030

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (6) WANG Yunyu, a citizen of
the PRC.

    ID No.
370703195208153019

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province,
PRC

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (7) MU Zuolei, a citizen of
the PRC.

    ID No.
370703197410270058

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (8) MU Sisheng, a citizen of
the PRC.

    ID No.
370703195606183053

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province,
PRC

      

    (9) HOU Junhua, a citizen of
the PRC.

    ID No.
370703196712244133

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (10) CUI Huabei, a citizen of
the PRC.

    ID No.
370703196206143014

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (11) XU Xiuzhi, a citizen of
the PRC.

    ID No.
370703196104020881

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (12) XU Dayong, a citizen of
the PRC.

    ID No.
37070319630813301X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (13) WANG Bintang, a citizen
of the PRC.

    ID No.
370703195708043019

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (14) LIU Zhixia, a citizen of
the PRC.

    ID No.
370703196411143048

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province,
PRC

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    (15) CUI Tongjing, a citizen
of the PRC.

    ID No.
370703196201203030

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (16) XU Shigang, a citizen of
the PRC.

    ID No.
370703197212180051

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (17) CUI Tonglin, a citizen of
the PRC.

    ID No.
370703195508253011

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (18) XU Jieguo, a citizen of
the PRC.

    ID No.
370703195503163519

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (19) WANG Chuanqiang, a
citizen of the PRC.

    ID No.
370703197009282280

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (20) Sun Zhipeng, a citizen of
the PRC.

    ID No.
37070319630207301X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (21) SHEN Zhaofa, a citizen of
the PRC.

    ID No.
37070319710211351X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (22) LU Junping, a citizen of
the PRC.

    ID No.
370703196406193139

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (23) XU Jiechang, a citizen of
the PRC.

    ID No.
370703196304253575

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province,
PRC

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    (24) ZHU Yuanhong, a citizen
of the PRC.

    ID No.
370728196808232871

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (25) ZHU Jiuquan, a citizen of
the PRC.

    ID No.
370703197208020012

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (26) LIN Chunhui, a citizen of
the PRC.

    ID No.
37070319730618001X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (27) CUI Zhuande, a citizen of
the PRC.

    ID No.
37070319650312301X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (28) WANG Xinhua, a citizen of
the PRC.

    ID No.
370703196903083010

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (29) ZHU Linsheng, a citizen
of the PRC.

    ID No.
32052119661129701X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (30) WU Jincai, a citizen of
the PRC.

    ID No.
37070319640820302X

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (31) YANG Xiaoyang, a citizen
of the PRC.

    ID No.
370703199001070329

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province,
PRC

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (32) YANG Chunxiang, a citizen
of the PRC.

    ID No.
370703197303280015

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (32) ZHU Xiaolei, a citizen of
the PRC.

    ID No.
110105198404023639

    Address: Haiwang Street, Yangzi
Community, Coastal Economic Zone, Weifang, Shandong Province, PRC

    

    (The
thirty-three persons aforementioned are collectively referred to as “Party B”)

    

    
      	
              Party
      C:

            	
              Shandong Haiwang Chemical Stock
      Co., Ltd., a joint stock company duly established and
      validly existing under the laws of the
      PRC.

            

    

    Registered Address: Haiwang
Street, Yangzi Community, Coastal Economic Zone, Weifang, Shandong Province,
PRC。

    

    WHEREAS, Party B currently holds a 100% equity interest in Party C
(the “Equity
Interest”);

    

    WHEREAS, Party C and Party A have entered into an Exclusive
Technical Consulting and Service Agreement and other
agreements.

    

    NOW, THEREFORE, intending to
be bound hereby and for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Parties hereto agree as
follows:

    

    ARTICLE
I

    

    TRANSFER
OF EQUITY INTEREST

    

    
      	
              1.1

            	
              Grant
      of Purchase Right

            

    

    

    Party B
hereby irrevocably grants Party A the exclusive right to purchase or designate
one or more persons (hereinafter referred to as “Specified Person”) to
purchase all or any portion of the Equity Interest from Party B, subject to
compliance with legal restrictions under applicable PRC laws (hereinafter
referred to as “Purchase
Right”). Party B shall not sell or transfer all or any portion of the
Equity Interest to any party other than Party A and/or the Specified Person.
Party C hereby acknowledges that Party B may grant the Purchase Right to Party
A, and the other shareholders of Party C have already agreed to waive any rights
to acquire the Equity Interest of Party C from Party B and such shareholders
have executed the Announcement Letter to waive their pre-emptive rights (attached
as Appendices).  As used in
this Agreement, the term “person” refers to an
individual, corporation, joint enterprise, partnership, enterprise, trust or
non-corporation organization.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    
      	
              1.2

            	
              Steps
      for Exercise of the Purchase Right

            

    

    

    Compliance
with PRC laws and regulations are conditions precedent to exercise of the
Purchase Right by Party A. To the extent Party A wishes to exercise the Purchase
Right, it shall issue a written notice (hereinafter referred to as “Purchase Notice”) to Party B,
and the Purchase Notice shall state: (a) that Party A intends to exercise the
Purchase Right; (b) the percentage of the Equity Interest to be purchased
therewith; and (c) the effective date or transfer date.

    

    
      	
              1.3

            	
              Consideration
      for the Equity Interest

            

    

    

    The
transfer fee (hereinafter referred to as “Transfer Fee”) payable by
Party A shall be equal to the value of the net assets of Party C on December 31,
2010, as determined by the assets evaluation institution retained by Party
A.

    

    
      	
              1.4

            	
              Transfer
      of the Equity Interest

            

    

    

    Each time
Party A exercises the Purchase Right:

    

    
      	
               
      

            	
              1.4.1

            	
              Party
      B shall ensure that Party C timely convenes a shareholders’ meeting at
      which the shareholders of Party C shall pass resolutions providing that
      Party B may transfer the Equity Interest to Party A or the Specified
      Person.

            

    

    

    
      	
               
      

            	
              1.4.2

            	
              Party
      B and Party A (or, if applicable, Specified Person) shall enter into an
      equity transfer contract relating to the Equity Interest pursuant to this
      Agreement and the Purchase Notice (hereinafter referred to as “Equity Transfer
      Contract”).

            

    

    

    
      	
               
      

            	
              1.4.3

            	
              The
      Parties shall execute all other necessary agreements or documents, obtain
      all necessary government approvals and consents, and take all necessary
      actions to legally transfer the ownership of the Equity Interest to Party
      A or the Specified Person and ensure that Party A or the Specified Person
      will be the registered owner of the Equity Interest.  The Equity
      Interest shall be free from any Security Interest (as defined
      below).  For the purpose of this Agreement, the term “Security Interest”
      shall include any guarantee, mortgage, third party right or interest,
      purchase right, preemption right, offset right, ownership withholding
      right or other security arrangement, but shall exclude any security
      interest granted pursuant to this Agreement or the Equity Interest Pledge
      Agreement entered into by and between Party A and Party B effective as of
      February 1, 2011 (hereinafter referred to as “Equity Interest Pledge
      Agreement”).  Pursuant to the Equity
      Interest Pledge Agreement, Party B shall pledge all the equity
      possessed by Party B in Party C to Party A as guaranty of the fees payable
      pursuant to the Exclusive Technical and Consulting Service Agreement
      entered into by and between Party C and Party A effective as of February
      1, 2011 (hereinafter referred to as “Exclusive Technical and
      Consulting Service
Agreement”).

            

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    
      	
              1.5

            	
              Payment
      for the Equity Interest

            

    

    

    
      	
               
      

            	
              1.5.1

            	
              Party
      A shall pay the Transfer Fee to Party B in accordance with the terms
      of Article 1.3.

            

    

     

    ARTICLE
II

    

    COVENANTS
RELATING TO THE EQUITY INTEREST

    

    
      	
              2.1

            	
              Covenants
      of Party C

            

    

    

    
      	
               
      

            	
              2.1.1

            	
              Without
      the written consent of Party A, Party C shall not supplement, amend or
      modify any provisions of the constitutional documents of Party C and will
      not otherwise increase or reduce its registered capital or change its
      equity structure in any way.

            

    

    

    
      	
               
      

            	
              2.1.2

            	
              Party
      C shall remain in good standing, and prudently and efficiently operate its
      business and corporate affairs in accordance with commercial standards and
      practice.

            

    

    

    
      	
               
      

            	
              2.1.3

            	
              Without
      the prior written consent of Party A, Party C shall not sell, transfer,
      mortgage or dispose of any of its assets, business or beneficial rights,
      or allow the creation of any Security Interest or other encumbrance upon
      its assets.

            

    

    

    
      	
               
      

            	
              2.1.4

            	
              Without
      the prior written consent of Party A, Party C shall not incur or guaranty
      any debt, or permit the existence of any debt, other than (i) debt that is
      incurred during the course of normal business operations (excluding
      business loans) and (ii) debt that has been previously disclosed to Party
      A and to which Party A has provided prior written
  consent.

            

    

    

    
      	
               
      

            	
              2.1.5

            	
              Party
      C shall operate in the normal course of business to maintain the value of
      its assets and shall not take any action which shall materially adversely
      influence its business operations or the value of its
    assets.

            

    

    

    
      	
               
      

            	
              2.1.6

            	
              Without
      the prior written consent of Party A, Party C shall not enter into any
      material agreement outside the normal course of business.  For
      the purposes of this Agreement, an agreement involving an amount in excess
      of RMB100, 000 shall be deemed a material
  agreement.

            

    

    

    
      	
               
      

            	
              2.1.7

            	
              Without
      the prior written consent of Party A, Party C shall not provide any loans
      or credit to any third party.

            

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              2.1.8

            	
              At
      the request of Party A, Party C shall provide Party A with any and all
      materials relating to the business operation and financial status of Party
      C.

            

    

    

    
      	
            	
              2.1.9

            	
              Party
      C shall purchase business insurance from an insurance company acceptable
      to Party A and shall maintain such insurance. The amount and kind of such
      insurance shall be similar to insurance carried by other companies which
      operate similar businesses and possess similar assets in the same
      geographic area.

            

    

    

    
      	  	
              2.1.10

            	
              Without
      the prior written consent of Party A, Party C shall not merge with, make
      an investment in, combine with or purchase the equity or substantially all
      the assets of any other entity.

            

    

    

    
      	 	
              2.1.11

            	
              Party
      C shall inform Party A of any actual or threatened litigation,
      arbitration, or administrative procedures relating to the assets, business
      and beneficial rights of Party C.

            

    

    

    
      	
            	
              2.1.12

            	
              In
      order to maintain Party C’s ownership of all its assets, Party C shall
      execute all necessary or proper documents, take all necessary or proper
      actions, substitute all necessary or proper claims, and make all necessary
      or proper answer to all compensation
claims.

            

    

    

    
      	
            	
              2.1.13

            	
              Without
      the prior written consent of Party A, Party C shall not grant any dividend
      to its shareholders. However, once requested by Party A, Party C shall
      immediately distribute all distributable profits to its
      shareholders.

            

    

    

    
      	
              2.2

            	
              Covenants
      of Party B

            

    

    

    
      	
               
      

            	
              2.2.1

            	
              Without
      the prior written consent of Party A, Party B shall not sell, transfer,
      mortgage or dispose of any right or interest relating to the Equity
      Interest, or allow any creation of any other Security Interest or
      encumbrance on the Equity Interest (excluding the security interest under
      this Agreement and the Equity Interest Pledge
  Agreement).

            

    

    

    
      	
               
      

            	
              2.2.2

            	
              Party
      B shall use its best efforts to prevent the other shareholders of Party C,
      if any, from adopting resolutions relating to the sale, transfer,
      mortgage, disposal of any rights or interests relating to the Equity
      Interest, or allowing any creation of any other Security Interest or
      encumbrance on the Equity Interest without the prior written consent of
      Party A (excluding the security interest under this Agreement and the
      Equity Interest Pledge Agreement).

            

    

    

    
      	
               
      

            	
              2.2.3

            	
              Party
      B shall use its reasonable best efforts to prevent the other shareholders
      of Party C, if any, from approving resolutions relating to Party C’s
      merger with, combination with, purchase of, or investment in any other
      entity without the prior written consent of Party
  A.

            

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              2.2.4

            	
              Party
      B shall inform Party A immediately of any actual or threatened litigation,
      arbitration, or administrative procedure relating to the Equity
      Interest.

            

    

    

    
      	
               
      

            	
              2.2.5

            	
              Party
      B shall use its reasonable best efforts to ensure that the other
      shareholders of Party C, if any, approve the transfer of the Equity
      Interest as set out in this
Agreement.

            

    

    

    
      	
               
      

            	
              2.2.6

            	
              In
      order to keep the ownership of the Equity Interest, Party B shall execute
      all necessary or proper documents, take all necessary or proper actions,
      substitute all necessary or proper claims, and make all necessary or
      proper responses to all compensation
claims.

            

    

    

    
      	
               
      

            	
              2.2.7

            	
              Upon
      the request of Party A from time to time, Party B shall immediately
      transfer the Equity Interest to Party A or the Specified Person pursuant
      to the terms of this Agreement.

            

    

    

    
      	
               
      

            	
              2.2.8

            	
              Party
      B shall strictly comply with this Agreement and any other agreements which
      may be entered into by and among Party B, Party C, and Party A
      collectively or separately, and shall perform its obligations under this
      Agreement, and shall not take any actions which shall affect the validity
      and enforceability of this
Agreement.

            

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    ARTICLE
III

    

    REPRESENTATIONS
AND WARRANTIES

    

    
      	
              3.1

            	
              Party
      B and Party C, jointly and severally, make the following representations
      to Party A on the date of this Agreement and the date of each Equity
      Transfer Contract:

            

    

     

    
      	
               
      

            	
              3.1.1

            	
              Each
      such party has the power to enter into and deliver this Agreement and the
      Equity Transfer Contract to be executed by it for each transfer of the
      Equity Interest, and each such Party has the power and capacity to perform
      its obligations under this Agreement and the Equity Transfer
      Contract.  Upon the execution of this Agreement and the Equity
      Transfer Contract, such documents shall constitute valid and legally
      binding documents and may be enforceable in accordance
      therewith.

            

    

     

    
      	
               
      

            	
              3.1.2

            	
              Neither
      the execution and delivery of this Agreement or any Equity Transfer
      Contract, nor performance of the obligations under this Agreement or any
      Equity Transfer Contract will: (i) violate any applicable PRC law; (ii)
      conflict with such Party’s Articles of Association or other organizational
      documents; (iii) breach any contract or document which such Party is a
      party to or which is binding upon such Party; (iv) violate any acquired
      permit, approval or any valid qualification; or (v) result in the
      termination or revocation or additional conditions to the acquired permit
      approval or qualification.

            

    

     

    
      	
               
      

            	
              3.1.3

            	
              Party
      C maintains full and transferable ownership of all of its
      assets.  Except for the pledge incurred by this Agreement and
      the pledge of the Equity Interest incurred by the Equity Interests Pledge
      Agreement, there is no other pledge and/or mortgage on the Equity
      Interest.

            

    

     

    
      	
               
      

            	
              3.1.4

            	
              Party C has no outstanding debt
      except for (i) debts, which were incurred during the ordinary course of business; and
      (ii) debt that has been previously disclosed to Party A and to which Party
      A has provided written
consent.

            

    

     

    
      	
               
      

            	
              3.1.5

            	
              Party
      C is in compliance with all applicable laws and regulations. There is no
      actual, pending or potential litigation, arbitration, or administrative
      procedures relating to the Equity Interest, the assets of Party C or other
      matters relating to Party C.

            

    

     

    ARTICLE
IV

    

    EFFECTIVE
DATE

    

    
      	
              4.1

            	
              This
      Agreement shall be executed and come into effect as of the date first set
      forth above.  This Agreement shall expire on the date that is
      twenty years following the date hereof, and this Agreement may be extended
      prior to termination upon written agreement executed by each
      Party.

            

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    ARTICLE
V

    

    GOVERNING
LAW AND DISPUTE SETTLEMENT

    

    
      	
              5.1

            	
              Governing
      Law

            

    

    

    This
Agreement shall be governed by and interpreted according to the laws of the
PRC.

    

    
      	
              5.2

            	
              Dispute
      Settlement

            

    

    

    The
Parties shall negotiate in good faith to settle any dispute relating to the
interpretation or implementation of this Agreement.  To the extent
such dispute cannot be settled within thirty (30) days from the date a Party
first issues written notice requesting settlement of a dispute through
negotiation, either Party may submit the dispute to the China International
Economic and Trade Arbitration Committee for arbitration according to the
requisite arbitration rules.  The arbitration shall be held in
Beijing.  The arbitration proceedings shall be conducted in
Chinese.  The arbitration award is final and binding on each
party.

    

    ARTICLE
VI

    

    TAX
AND EXPENSES

    

    
      	
              6.1

            	
              Each
      Party shall bear any and all burden of its own taxes, costs and expenses
      under PRC law relating to the preparation and execution of this Agreement
      and each Equity Transfer Contract.

            

    

    

    ARTICLE
VII

    

    NOTICE

    

    
      	
              7.1

            	
              Any
      notice or other communication under this Agreement shall be in Chinese and
      be sent to the recipient at its address first above written or such other
      address as may be designated from time to time by hand delivery, mail or
      facsimile.  Any notice required or given hereunder shall be
      deemed to have been served: (a) on the same date if sent by hand delivery;
      (b) on the tenth day if sent by prepaid air-mail, or on the fourth day if
      sent by the professional hand delivery which is acknowledged worldwide;
      and (c) the receipt date displayed on the transmission confirmation notice
      if sent by facsimile.

            

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    ARTICLE
VIII

    

    CONFIDENTIALITY

    

    
      	
              8.1

            	
              The
      Parties acknowledge and confirm that any oral or written information
      relating to this Agreement communicated among the Parties shall be deemed
      to be confidential information (“Confidential
      Information”).  The Parties shall keep such Confidential
      Information confidential and shall not disclose it to any third party
      without written consent from of the other Parties except that the
      following information shall be excluded from the definition of
      Confidential Information: (a) information that is publicly available or
      will become publicly available so long as it is not disclosed by the Party
      receiving such Confidential Information; (b) information that is disclosed
      in accordance with applicable laws or regulations; or (c) a Party may
      disclose Confidential Information to its attorney or financial advisor so
      long as such attorney or legal advisor needs to access such information
      and agrees to keep such information confidential.  The
      disclosure by an employee or agent of a Party shall be deemed to be
      disclosure by the Party itself, and the Party shall undertake liability
      therefor.  The Parties agree that the provisions of this Article
      shall survive notwithstanding the termination of this
      Agreement.

            

    

    

    ARTICLE
IX

    

    FURTHER
ASSURANCE

    

    
      	
              9.1

            	
              The
      Parties agree that they will execute any and all necessary documents
      required for the purpose of performing this Agreement and will execute any
      documents and take any actions which are beneficial for purposes of this
      Agreement.

            

    

    

    ARTICLE
X

    

    MISCELLANEOUS

     

    
      	
              10.1

            	
              Amendment
      and supplementation

            

    

     

    Any
revision to, amendment of or supplement to this Agreement must be in writing and
be executed by each Party hereto.

     

    
      	
              10.2

            	
              Compliance
      with laws and regulations

            

    

     

    The
Parties shall comply with all applicable PRC laws and regulations which have
been formally issued.

     

    
      	
              10.3

            	
              Entire
      agreement

            

    

     

    Unless it
is otherwise revised, amended or supplemented, this Agreement and its appendices
constitute the entire agreement among the Parties as to the subject matter of
this Agreement, and supersede any prior oral or written negotiations, statements
or agreements among the parties relating thereto.

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    
      	
              10.4

            	
              Headings

            

    

     

    Headings
in this Agreement are only used for reading convenience, and shall not be used
to interpret, explain or otherwise influence the meaning of the provisions of
this Agreement.

     

    
      	
              10.5

            	
              Language

            

    

     

    This
Agreement is made in Chinese and English in one or more original or facsimile
counterparts.  The Chinese version will prevail in the event of any
inconsistency between the English and any Chinese translations
thereof.

     

    
      	
              10.6

            	
              Severability

            

    

     

    If any of
the terms of this Agreement is declared invalid, illegal or unenforceable in
accordance with any applicable laws or regulations, the validity and
enforceability of the other terms hereof shall nevertheless remain
unaffected.  The Parties hereto agree to negotiate to restructure such
invalid, illegal or unenforceable terms so as to maintain the same or similar
economic impact.

     

    
      	
              10.7

            	
              Successor

            

    

     

    This
Agreement shall bind the permitted transferee or successor of each Party and
shall be interpreted for its benefit.

     

    
      	
              10.8

            	
              Survival

            

    

     

    
      	 	
              10.8.1

            	
              Any
      duties occurred in relation to the Agreement prior to termination or
      expiration shall continue to be effective after expiration or termination
      of the Agreement.

            

    

     

    
      	 	
              10.8.2

            	
              The
      provisions of Articles 5, 7, 8 and 10.8 shall survive the termination of
      this Agreement.

            

    

     

    
      	
              10.9

            	
              Waiver

            

    

     

    Each
Party may waive the terms and conditions under this Agreement in
writing.  Such waiver must be duly signed by such
Party.  Any waiver relating to the breach of the other Party in
certain circumstance shall not be deemed as a waiver for a similar breach in
other circumstances.

     

    [Remainder
of Page Left Intentionally Blank – Signature Page Follows]

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    [Exclusive Equity Interest
Purchase Agreement –Signature Page]

     

    IN WITNESS WHEREOF, the
Parties have executed this Agreement on the date first above
written.

    

    
      
        
          	
                  Party
      A: Beijing Binhai Yintai
      Technology Co.,
Ltd.

                

        

      

    

    
      
        
          
            	
                    By:

                  	/s/
      Yang
      Chunbin

          

        

      

    

    
      
        
          
            	
                    Name:

                  	Yang
      Chunbin  

          

        

      

    

    
      
        
          	
                  Its:

                	Legal
      Representative

        

      

    

     

    Party B:

    

    (1)YANG Chunbin    /s/ Yang
Chunbin    

     

    (2)SUN Tongjiang     /s/ Sun
Tongjiang    

     

    (3)LIU Shangxue    /s/
Liu Shangxue    

     

    (4)CUI Xiusheng    /s/
Cui Xiusheng    

     

    (5)LU Junyou    /s/
Lu Junyou    

     

    (6)WANG Yunyu    /s/
Wang Yunyu    

     

    (7)MU Zuolei    /s/
Mu Zuolei    

     

    (8)MU Sisheng    /s/
Mu Sisheng    

     

    (9)HOU Junhua    /s/
Hou Junhua    

     

    (10)CUI Huabei    /s/
Cui Huabei    

     

    (11)XU Xiuzhi    /s/
Xu Xiuzhi    

     

    (12)XU Dayong    /s/
Xu Dayong    

     

    (13)WANG Bintang    /s/
Wang Bintang    

     

    
      (14)LIU Zhixia    /s/
Liu Zhixia    

       

      (15)CUI Tongjing    /s/
Cui Tongjing    

    
 

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

     

    (16)XU Shigang   /s/ Xu
Shigang    

     

    (17)CUI Tonglin    /s/
Cui Tonglin    

     

    (18)XU Jieguo    /s/
Xu Jieguo    

     

    (19)WANG
Chuanqiang    /s/
Wang Chuanqiang    

     

    (20)SUN Zhipeng    /s/
Sun Zhipeng    

     

    (21)SHEN Zhaofa    /s/
Shen Zhaofa    

     

    (22)LU Junping    /s/
Lu Junping    

     

    (23)XU Jiechang    /s/
Xu Jiechang    

     

    (24)Zhu Yuanhong    /s/
Zhu Yuanhong    

     

    (25)ZHU Jiuquan    /s/
Zhu Jiuquan    

     

    (26)LIN Chunhui    /s/
Lin Chunhui     

     

    (27)CUI Zhuande    /s/
Cui Zhuande    

     

    (28)WANG Xinhua    /s/
Wang Xinhua    

     

    (29)ZHU Linsheng    /s/
Zhu Linsheng    

     

    (30) WU Jincai    /s/
Wu Jincai    

     

    (31)YANG Xiaoyang    /s/
Yang Xiaoyang    

     

    (32)YANG
Chunxiang    /s/
Yang Chunxiang    

     

    (33)ZHU Xiaolei    /s/
Zhu Xiaolei    

     

    
      
        
          
            	
                    
                      Party C: Shandong Haiwang
      Chemical Stock Co., Ltd.

                    

                  

          

           

        

      

      
        
          
            
              	
                      By:

                    	/s/
      Yang
      Chunbin 

            

          

        

      

      
        
          
            
              	
                      Name:

                    	Yang Chunbin   
      

            

          

        

      

      
        
          
            	
                    Its:

                  	Legal
      Representative  

          

        

      

      

        
          
             

          

          
            15

            
              

            

          

          
             

          

        

    

    Appendix
1

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the
PRC.  I, as a shareholder of the company, hold a 46.9772% equity interest in the
Company. I, together with the
other shareholders, SUN Tongjiang, LIU Shangxue, CUI Xiusheng, LU Junyou,
WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong,
WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, WANG
Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong, ZHU
Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu Jincai, YANG
Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity
interest in the Company.  I hereby irrevocably waive
any pre-emptive right I may have upon the other 53.0338% equity interest in the
Company and will not encumber the
transfer of the equity
interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    YANG
Chunbin

    /s/ Yang
Chunbin 

      
        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Appendix
2

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
13.8675% equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, LIU Shangxue, CUI Xiusheng, LU
Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU
Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity
interest in the Company.  I hereby irrevocably waive
any pre-emptive right I may have upon the other 86.1325% equity interest in the Company and will not encumber the transfer of
the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    SUN
Tongjiang
/s/ Sun Tongjiang 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
3

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
12.3267% equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang,
CUI Xiusheng, LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI
Huabei, XU Xiuzhi, XU Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU
Shigang, CUI Tonglin, XU Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU
Junping, XU Jiechang, Zhu Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG
Xinhua, Zhu Linsheng, Wu Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity
interest in the Company.  I hereby irrevocably waive
any pre-emptive right I may
have upon the other 87.6733% equity interest in the
Company and will not encumber the
transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    LIU
Shangxue
/s/ Liu Shangxue 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
4

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
12.3267% equity interest
in the Company. I, together with the other
shareholders, YANG Chunbin, SUN Tongjiang, LIU Shangxue, LU Junyou, WANG
Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong, WANG
Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, WANG
Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong, ZHU
Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu Jincai, YANG
Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity
interest in the
Company.  I hereby
irrevocably waive any pre-emptive right I may have upon the other
87.6733% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective
as of February 1, 2011.

    

    CUI
Xiusheng
/s/ Cui Xiusheng 

    
      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Appendix
5

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the company, hold a 1.3867% equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LIU
Shangxue, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi,
XU Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company.  I hereby irrevocably waive
any pre-emptive right I may have upon the other 98.6133% equity interest in the
Company and will not encumber the
transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    LU
Junyou
/s/ Lu Junyou 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
6

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing under the laws of the
PRC.  I, as a shareholder of the company, hold a 1.1556% equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou,
LIU Shangxue, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU
Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company.  I hereby irrevocably waive
any pre-emptive right I may have upon the other 98.8444% equity interest in the
Company and will not
encumber the transfer of
the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    WANG
Yunyu
/s/ Wang Yunyu 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
7

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, LIU Shangxue, MU Sisheng, HOU Junhua, CUI Huabei, XU
Xiuzhi, XU Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI
Tonglin, XU Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU
Jiechang, Zhu Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu
Linsheng, Wu Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    MU
Zuolei
/s/ Mu Zuolei 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
8

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN
Tongjiang, CUI Xiusheng, LU Junyou, WANG Yunyu, MU Zuolei, LIU Shangxue, HOU
Junhua, CUI Huabei, XU Xiuzhi, XU Dayong, WANG Bintang, LIU Zhixia, CUI
Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN
Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI
Zhuande, WANG Xinhua, Zhu Linsheng, Wu Jincai, YANG Xiaoyang, YANG Chunxiang,
ZHU Xiaolei collectively hold a
100% equity interest in the Company. I hereby irrevocably waive any pre-emptive right I may have upon
the other 99.6148% equity
interest in the Company and
will not encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    MU
Sisheng
/s/ Mu Sisheng 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
9

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in the Company. I, together with the other
shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou, WANG
Yunyu, MU Zuolei, MU Sisheng, LIU Shangxue, CUI Huabei, XU Xiuzhi, XU Dayong,
WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, WANG
Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong, ZHU
Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu Jincai, YANG
Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100%
equity interest in
the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is
effective as of
February 1, 2011.

    

    HOU
Junhua
/s/ Hou Junhua 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
10

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, LIU Shangxue, XU
Xiuzhi, XU Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI
Tonglin, XU Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU
Jiechang, Zhu Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu
Linsheng, Wu Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    CUI
Huabei
/s/ Cui Huabei 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
11

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing under the laws of
the PRC.  I, as a shareholder of the company, hold a 0.3852%equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou,
WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, LIU Shangxue, XU
Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and
will not encumber the
transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    XU
Xiuzhi
/s/ Xu Xiuzhi 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
12

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi,
LIU Shangxue, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin,
XU Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang,
Zhu Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng,
Wu Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other 99.6148% equity interest in the
Company and will not encumber the
transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    XU
Dayong
/s/ Xu Dayong 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
13

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other
shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou, WANG
Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong, LIU
Shangxue, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, WANG
Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong, ZHU
Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu Jincai, YANG
Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any
pre-emptive right I may have upon the other 99.6148% equity interest in the
Company and will not encumber the
transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    WANG
Bintang
/s/ Wang Bintang 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
14

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi,
XU Dayong, WANG Bintang, LIU Shangxue, CUI Tongjing, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest in the
Company. I hereby irrevocably
waive any pre-emptive right I may have upon the other 99.6148% equity interest in the
Company and will not encumber the
transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as of February 1, 2011.

    

    LIU
Zhixia
/s/ Liu Zhixia 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
15

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of
the company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi,
XU Dayong, WANG Bintang, LIU Zhixia, LIU Shangxue, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    CUI
Tongjing
/s/ Cui Tongjing 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
16

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing under the
laws of the PRC.  I, as a shareholder of the company, hold a 0.3852%equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou,
WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong,
WANG Bintang, LIU Zhixia, CUI Tongjing, LIU Shangxue, CUI Tonglin, XU Jieguo,
WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not encumber the transfer of
the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    XU
Shigang
/s/ Xu Shigang 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
17

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi,
XU Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, LIU Shangxue, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other 99.6148% equity interest in the
Company and will not encumber the
transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    CUI
Tonglin
/s/ Cui Tonglin 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
18

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I,
together with the other
shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou, WANG
Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong, WANG
Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, LIU Shangxue, WANG
Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong, ZHU
Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu Jincai, YANG
Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I
hereby irrevocably waive
any pre-emptive right I may have upon the other 99.6148% equity interest in the
Company and will not encumber the
transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    XU
Jieguo
/s/ Xu Jieguo 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
19

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a 0.3852%equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou,
WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong,
WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, LIU
Shangxue, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong, ZHU
Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu Jincai, YANG
Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest in the
Company. I hereby irrevocably
waive any pre-emptive right I may have upon the other 99.6148% equity interest in the
Company and will not encumber the
transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as of February 1, 2011.

    

    WANG
Chuanqiang
/s/ Wang Chuanqiang 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
20

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the
PRC.  I, as a shareholder of the company, hold a 0.3852%equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou,
WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong,
WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, WANG
Chuanqiang, LIU Shangxue, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong,
ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu Jincai,
YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    SUN
Zhipeng
/s/ Sun Zhipeng 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
21

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi,
XU Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, LIU Shangxue, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    SHEN
Zhaofa
/s/ Shen Zhaofa 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
22

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi,
XU Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LIU Shangxue, XU Jiechang,
Zhu Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng,
Wu Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    LU
Junping
/s/ Lu Junping 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
23

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together with the other shareholders,
YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou, WANG Yunyu, MU
Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong, WANG Bintang,
LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, WANG Chuanqiang,
SUN Zhipeng, SHEN Zhaofa, LU Junping, LIU Shangxue, Zhu Yuanhong, ZHU Jiuquan,
LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu Jincai, YANG Xiaoyang,
YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company.
I hereby irrevocably waive
any pre-emptive right I may have upon the other 99.6148% equity interest in the
Company and will not encumber the
transfer of the equity interest you proposed in any way.

     

    This Announcement Letter is effective as
of February 1, 2011.

    

    XU
Jiechang
/s/ Xu Jiechang 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
24

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi,
XU Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, LIU
Shangxue, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest in
the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as of
February 1, 2011.

    

    Zhu
Yuanhong
/s/ Zhu Yuanhong 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
25

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the
PRC.  I, as a shareholder of the company, hold a 0.3852%equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou,
WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong,
WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, WANG
Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong, LIU
Shangxue, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu Jincai, YANG
Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of
the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    ZHU
Jiuquan
/s/ Zhu Jiuquan 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
26

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi,
XU Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIU Shangxue, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity
interest in the
Company and will not encumber the
transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    LIN
Chunhui
/s/ Lin Chunhui 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
27

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi,
XU Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIN Chunhui, LIU Shangxue, WANG Xinhua, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    CUI
Zhuande
/s/ Cui Zhuande 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
28

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a
0.3852%equity interest in
the Company. I, together
with the other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng,
LU Junyou, WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi,
XU Dayong, WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU
Jieguo, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu
Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, LIU Shangxue, Zhu Linsheng, Wu
Jincai, YANG Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    WANG
Xinhua
/s/ Wang Xinhua 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
29

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the company, hold a 0.3852%equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou,
WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong,
WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, WANG
Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong, ZHU
Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, LIU Shangxue, Wu Jincai, YANG
Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.6148% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    Zhu
Linsheng
/s/ Zhu Linsheng 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
30

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid
existing under the laws of
the PRC.  I, as a shareholder of the company, hold a 1%equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou,
WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong,
WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, WANG
Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong, ZHU
Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, LIU Shangxue, YANG
Xiaoyang, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99% equity interest in
the Company and will not
encumber the transfer of
the equity interest you proposed in any way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    Wu
Jincai
/s/ Wu Jincai 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
31

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a 1%equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou,
WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong,
WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, WANG
Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang, Zhu Yuanhong, ZHU
Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng, Wu Jincai, LIU
Shangxue, YANG Chunxiang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    YANG
Xiaoyang
/s/ Yang Xiaoyang 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
32

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a 1%equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou,
WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong,
WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, LIU
Shangxue, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang,
Zhu Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng,
Wu Jincai, YANG Xiaoyang, ZHU Xiaolei collectively hold a 100% equity interest
in the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as
of February 1, 2011.

    

    YANG
Chunxiang
/s/ Yang Chunxiang 

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Appendix
33

    

    Announcement
Letter

    

    Shandong
Haiwang Chemical Stock Co., Ltd. (hereinafter referred to as “Company”) is a
joint stock company duly established and valid existing
under the laws of the PRC.  I, as a shareholder of the
company, hold a 0.1%equity interest in the
Company. I, together with the
other shareholders, YANG Chunbin, SUN Tongjiang, CUI Xiusheng, LU Junyou,
WANG Yunyu, MU Zuolei, MU Sisheng, HOU Junhua, CUI Huabei, XU Xiuzhi, XU Dayong,
WANG Bintang, LIU Zhixia, CUI Tongjing, XU Shigang, CUI Tonglin, XU Jieguo, LIU
Shangxue, WANG Chuanqiang, SUN Zhipeng, SHEN Zhaofa, LU Junping, XU Jiechang,
Zhu Yuanhong, ZHU Jiuquan, LIN Chunhui, CUI Zhuande, WANG Xinhua, Zhu Linsheng,
Wu Jincai, YANG Xiaoyang, YANG Chunxiang collectively hold a 100% equity interest in
the Company. I hereby
irrevocably waive any pre-emptive right I may have upon the other
99.99% equity interest in
the Company and will not
encumber the transfer of the equity interest you proposed in any
way.

    

    This Announcement Letter is effective as of
February 1, 2011.

    

    ZHU
Xiaolei
/s/ Zhu Xiaolei

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