Document:

Unassociated Document

     

    Exhibit
10.32

    

    Assignment
State Land Use Right Contract

    

    
      
        
          
            
              
                	
                        Date:

                      	 	
                        June
      30, 2007

                      
	 
      	 	 
      
	
                        Assignor:

                      	 	
                        Jinjiang
      City Bureau of State Land and Recourse

                      
	 
      	 	 
      
	
                        Land
      Use Right Holder:

                      	 	
                        Guanwei

                      
	 
      	 	 
      
	
                        Term:

                      	 	
                        June
      29, 2007 to June 28, 2057

                      
	 
      	 	 
      
	
                        Official
      reference number:

                      	 	
                        Jin
      Di He [2007] Xie Zi No. 532

                      
	 
      	 	 
      
	
                        Location:

                      	 	
                        Houlin Community, Luoshan Street, Jinjiang City, Fujian
      Province

                      
	 
      	 	 
      
	
                        Size:

                      	 	
                        70,780
      square meter

                      
	 
      	 	 
      
	
                        Consideration:

                      	 	
                        RMB13,685,313
      yuan in total,
      excluding city construction cost and title deed tax

                      
	 
      	 	 
      
	
                        Use
      of land:

                      	 	
                        Industrial

                      
	 
      	 	 
      
	
                        Covenants
      of Assignor:

                      	 	
                        Assignor
      shall not terminate the land use right during the term of the Contract,
      unless (i) there is a compelling public interests; and (ii) through due
      process.  Upon termination, Assignor shall indemnify Guanke a
      fair value for the remaining term of the agreement and the constructions
      and facilities on the property.

                      
	 	 	 
	 	 	
                        If
      Guanwei applies to renew the land use right one year before the expiration
      date of the agreement, Assignor shall consent unless
      for  reasons of compelling public interests.

                      
	 
      	 	 
      
	
                        Covenants
      of Land Use Right Holder:

                      	 	
                        The
      Use of the land other than for industrial purpose  shall be
      subject to consent of Assignor.  Guanwei has the right to
      assign, lease and mortgage the property entirely or partially to a third
      party upon receiving a Land Use Right Certificate and satisfaction of the
      following conditions: (i) Guanwei has developed at least 25% of the
      property; and (ii) the land has been developed as suitable for industrial
      use. 

                      
	 	 	 
	 	 	
                        Assignor
      is entitled to terminate the land use right without any indemnification to
      Guanwei if there is no construction on the property within two year from
      December 31,
2008.

                      

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	
                Dispute
      resolution:

              	 	
                Disputes
      should be submitted to competent People’s Court.

              
	 
      	 	 
      
	
                Governing
      law:

              	 	
                Laws
      of the People’s Republic of
China.Unassociated Document

    Exhibit
10.33

    

    Loan
Agreement with Jinjiang Branch of Industrial Bank Co., Ltd.
(No.:10417199-081209) for RMB10 million

    

    Note:
This is a subcontract of General Credit Contract (No.: 10417199-081204), the
amount of which is RMB34 million effective from December 4, 2008 to December 3,
2009.

    

    
      
        	
                Date:

              	 	
                December
      16, 2008

              
	 
      	 	 
      
	
                Lender:

              	 	
                Jinjiang
      Branch of Industrial Bank Co., Ltd., located at Industrial Bank Building,
      Chongde Road, Qingyang, Jinjiang City

              
	 
      	 	 
      
	
                Borrower:

              	 	
                Guanke,
      located at Xiaban Industrial Park, Shuanggou, Meiling Residential
      District, Jinjiang City

              
	 
      	 	 
      
	
                Amount:

              	 	
                RMB10
      million

              
	 
      	 	 
      
	
                Term:

              	 	
                12
      months from December 10, 2008 to December 9, 2009

              
	 
      	 	 
      
	
                Interest
      rate:

              	 	
                Fixed
      annual interest rate of 5.58%

              
	 
      	 	 
      
	
                Interest
      repayment:

              	 	
                The
      interest shall be determined at the 20th day of each month.
      The borrower shall pay the accrued monthly interest the next day of the
      interest determination date. The last sum of interest shall be paid at the
      maturity date of principal

              
	 
      	 	 
      
	
                Principal
      repayment:

              	 	
                The
      principal of the loan should be paid in full on the maturity
      date

              
	 
      	 	 
      
	
                Security:

              	 	
                The
      loan is secured by the following security contracts:

                1.
      Maximum Amount Mortgage Contract (No.: gk-20081126002);

                2.
      Individual Security Statement (No.: 10417199-081204DB-1);

                3.
      Individual Security Statement (No.:
  10417199-081204DB-2).

              
	 
      	 	 
      
	
                Assignment:

              	 	
                The
      Borrower shall not assign part or all of its obligations under the loan
      agreement to a third party without the prior written consent of the
      Lender. The Lender may assign part or all of its rights and securities
      under the loan agreement to a third party at any time.

              
	 
      	 	 
      
	
                Disclosure
      obligation:

              	 	
                Upon
      the occurrence of any major transaction or major events and other
      conditions as described in the loan agreement, the Borrower should
      disclosure such event in writing to the Lender in a timely
      manner.

              
	 
      	 	 
      
	
                Governing
      law

              	 	
                Laws
      of the People’s Republic of
ChinaUnassociated Document

    Exhibit
10.34

    

    Loan
Agreement with Jinjiang Branch of Industrial Bank Co., Ltd.
(No.:10417199-081216) for RMB15 million

    

    Note:
This is a subcontract of General Credit Contract (No.: 10417199-081204), the
amount of which is RMB34 million and which is effective from December 4, 2008 to
December 3, 2009.

    

    
      
        	
                Date:

              	 	
                December
      10, 2008

              
	 
      	 	 
      
	
                Lender:

              	 	
                Jinjiang
      Branch of Industrial Bank Co., Ltd., located at Industrial Bank Building,
      Zengjing residential area, Qingyang, Jinjiang City

              
	 
      	 	 
      
	
                Borrower:

              	 	
                Guanke,
      located at Xiaban Industrial Park, Shuanggou, Meiling Residential
      District, Jinjiang City

              
	 
      	 	 
      
	
                Amount:

              	 	
                RMB15
      million

              
	 
      	 	 
      
	
                Term:

              	 	
                12
      months from December 16, 2008 to December 15, 2009

              
	 
      	 	 
      
	
                Interest
      rate:

              	 	
                Fixed
      annual interest rate of 5.58%

              
	 
      	 	 
      
	
                Interest
      repayment:

              	 	
                The
      interest shall be settled at the 20th day of each month.
      The borrower shall pay the accrued monthly interest next day of the
      interest settlement date. The last sum of interest shall be paid at the
      maturity date of principal

              
	 
      	 	 
      
	
                Principal
      repayment:

              	 	
                The
      principal of the loan should be repaid in lump-sum at the maturity
      date

              
	 
      	 	 
      
	
                Security:

              	 	
                The
      loan is secured by the following security agreements:

                1.
      Maximum Amount Mortgage Contract (No.: gk-20081126002);

                2.
      Individual Security Statement (No.: 10417199-081204DB-1);

                3.
      Individual Security Statement (No.:
  10417199-081204DB-2).

              
	 
      	 	 
      
	
                Assignment:

              	 	
                The
      Borrower shall not assign part or all of its obligations under the loan
      agreement to a third party without the prior written consent of the
      Lender. The Lender may assign part or all of its rights and securities
      under the loan agreement to a third party at any time.

              
	 
      	 	 
      
	
                Disclosure
      obligation:

              	 	
                Upon
      the occurrence of any major transaction or major events and other
      conditions as described in the loan agreement, the Borrower should
      disclosure such event in writing to the Lender in a timely
      manner.

              
	 
      	 	 
      
	
                Governing
      law

              	 	
                Laws
      of the People’s Republic of
China

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