Document:

English Translation of
Chinese Language Document

      
         

        
          

        

      

     

    Exhibit
10.31

    

    Assignment
State Land Use Right Contract

    Contract
No. Jindihe [2007] Qingxiezi No. 531

    

    (Applicable
to the Industrial Project Land without Financially Labeling Price)

    

    CHAPTER
I       General Provisions

    Article 1
This Agreement is signed by and between:

    

    Assignor:
Bureau of Land and Resources of Jinjiang  City, Fujian Province, P R
China

    Land
Use Right Owner: Guanwei (Fujian) Electronic Technology Co Ltd

    

    In
accordance with the Land Administration Law, Order of the President, Contract
Law and other administrative regulations, local laws and regulations in the
People’s Republic of China and adhering to the principle of equality,
willingness and for the mutual benefit, the two parties agree to sign this
Contract.

    

    Article 2
The Assignor transfers the land use rights in accordance with the authorization
by the law. And property rights of the land shall be owned by the People’s
Republic of China, who has the jurisdiction and executive power authorized by
constitution and law, and other rights administered by the State in accordance
with the laws of the People’s Republic of China, as well as the rights and
benefits necessary for interests of the general public.

    

    CHAPTER
II      Delivery of Land Use Rights and Payment of
Fees

    Article 3
The land is located at the Houlin Community, Luoshan Street, the Land No. is
___/__. The land covers an area of (in words)_TWENTY EIGHT THOUSAND SIX HUNDRED
AND EIGHTY EIGHT square meters (in numbers: 28,688 square meters) which will be
paid by installments.

    

    Article 4
The land is to be used for industrial purposed only.

    

    Article 5
The Assignor agrees to deliver the land use rights to the Land Use Right Owner
before July 30th 2007, and the Land Use Right Owner agrees to make
sure that the delivered land can reach the conditions specified in the following
Section (III) of this Article.

    

    Article 6
The term of the land use right stipulated in this Contract is 50 years, from
June 29, 2007 to June 28, 2057.

    

    Article 7
The land use right transfer fees under the Contract is RMB (in words) ONE
HUNDRED AND NINETY THREE POINT THREE FIVE Yuan (in numbers: 193.35 Yuan) per
square meter, so the total fee is RMB (in words) FIVE MILLION FIVE HUNDRED FORTY
SIX THOUSAND EIGHT HUNDRED AND TWENTY FIVE Yuan–(RMB5,546,825
Yuan), excluding city construction costs and title deed tax.

    

    Article 8
Within   /   days after the Contract signed by
both Parties, the Land Use Right Owner shall pay RMB (in
words)     /     Yuan, (in
numbers     /    Yuan) to the
Assignor as the deposit of contract performance, which shall be retained as the
land use right transfer fee.

    

    Article 9
The Land Use Right Owner agrees to pay the above mentioned land use right
transfer fee to the Assignor in accordance with Section (I) under this
Article.

    

    Within 60
days from June 29th 2009, the land use right transfer fees above shall be paid
all at once.

    The land
use right transfer fees above shall be paid to the Assignor with the following
dates and amounts
in     /     installments.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      English Translation of
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    The first
installment: RMB (in
words)       /     Yuan,

    (in
numbers  /  Yuan). Time of payment:
before       /    .

    The
second installment: RMB (in
words)       /     Yuan,

    (in
numbers   /   Yuan). Time of payment:
before      /    .

    The   /   installment:
RMB (in
words)       /     Yuan,

    (in
numbers    /   Yuan). Time of payment:
before      /    .

    When the
Land Use Right Owner pays the transfer fees in installments, he shall pay the
Assignor corresponding interest according to bank lending rates over the same
period from the second installment on.

    

    CHAPTER
III     Development, Building and Utilization of
Land

    Article
10            
Within 30 days from the effectiveness of this Contract, both parties shall
verify all markers .The Land Use Right Owner shall properly protect land
boundary markers, and shall not remove them without government authorization;
once the boundary marker is destroyed or removed, the Land Use Right Owner shall
immediately submit a written report to the Assignor, apply for re-measurement of
the boundary and restore boundary markers.

    

    Article
11             New
buildings under this Contract shall meet the following
requirements:

    

    Property
of main building:     Plant and supporting
facilities      ;

    Property
of attached
buildings:                  /             ;

    Building’s
floor area
ratio:                   ≤2.5            ;

    Building
density:                          ≤40%           ;

    Building’s
height
limit:                        /             ;

    Green
ratio:                              ≥30%           ;

    

    In
addition to performing the above specifications, the Land Use Right Owner agrees
that the floor area ratio for the premises shall not be less than 1.0, and the
building coefficient shall not be less than 30%.

    

    Article
12             The
Land Use Right Owner agrees that the area of land used for business office and
living facilities within the premises shall not exceed 7% of the land, that is,
not exceed 2,008 square meters (if the area for office and living facilities
cannot be calculated separately, the apportioned area, which is calculated based
on the ratio of the area for office and living facilities to the total building
area, shall be used instead). The Land Use Right Owner shall not build
non-production facilities such as residential block, apartment, hotel,
guesthouse, training center, etc. on the land.

    

    Article
13             Any
change of the land use parameters as specified in Article 11 and Article 12
shall be approved from the planning authorities and the Assignor, and shall
compensate for the changes in the amount the Assignor calculate and
require.

    

    Article
14             If
the Land Use Right Holder requests to change the purpose of the land use as
specified in the Contract, the parties agree:

    

    The
Assignor shall reclaim the land use right and enter into a new transfer in
accordance with the law.

    Prior
approval by the planning authorities and the Assignor shall be obtained and the
approving procedures for the change in land use purpose and land use conditions
shall be  in compliance with relevant laws and regulations; the Land
Use Right Holder shall pay penalty for the change of the land use right based on
the difference in the market price of the land , in light of the old and new
land use conditions; Followed by the change, a new contract shall be signed to
replace the old contract and a new registration shall be filed with the local
government.

    

    Article
15             The
Land Use Right Holder agrees that the fixed asset investment of the project on
the premises under this Contract shall not be less than USD 15,000,000; unit
land area investment intensity shall not be less than RMB 24,900,000; the
project fixed asset investment includes the buildings, structures, equipment
investment and land price.

    

    The Land
Use Right Holder shall apply to the Assignor for performance check with valid
capital investment certification within 60 days after the project
completes.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      English Translation of
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    Article
16             The
Land Use Right Holder agrees to build the following buildings within the scope
the premises under this Contract and these buildings will be transferred to the
government free of charge after they are completed:

               None        ;

               None        ;

               None        ;

    

    Article
17             The
Land Use Right Holder agrees that the construction starts before December 31,
2008 and shall complete for production before December 31, 2010 (with the
exception of cases of force majeure).

    

    In case
that the construction cannot be started on schedule, the Land Use Right Holder
shall make application of construction postponement to the Assignor 30 days in
advance; the project completion date and the completion acceptance inspection
application date can be accordingly postponed based on the agreed construction
postponement date, but the postponement shall not exceed one year for each
application.

    

    Article
18             The
government shall provide and the Land  Use Right Holders agree the
access or pipelines of water, gas, power and other facilities to be connected to
the land during the land use right period.

    

    Article
19            
Within 30 days after accepting the land registration application, the Land Use
Right Holder shall request the Assignor to register and obtain the State-owned
Land Use Right certificate and the Assignor shall follow the procedures to
transfer the land use right and send the certificate to Land Use Right
Holder.

    

    Article
20             The
Land Use Right Holder must use the land in a lawful and reasonable manner, and
all the activities on the transferred premises shall not impair or destroy the
surrounding environment or facilities; for any loss suffered by the country or
any other person, the Land Use Right Holder shall be liable for
compensation.

    

    Article
21            
Government reserves the right to adjust urban planning of the premises under
this Contract; if the original land use plan is changed, the existing buildings
on the premises shall not be affected; however, in case that the buildings and
attachments are under alteration, renovation, or reconstruction within the use
limit or the application for renewal is under way when the use limit expires,
the effective plan at the time shall be implemented.

    

    Article
22             The
Assignor shall not withdraw the land use right legally obtained by the Land Use
Right Holder before period of the land use right expires.

    

    CHAPTER
IV    Transfer, Lease and Mortgage of Land Use
Rights

    Article
23            
Obtaining the Certificate for Use of State-Owned Land and obtained the
transferred land use rights in accordance with the Contract, the Land Use Right
Holder shall have the right to transfer, lease or mortgage partial or whole land
use rights under this Contract.

    

    Article
24             All
the parties involved in the transfer or mortgage of the land use right shall
reach and sign a transfer/mortgage contract. A leasing contract shall be signed
if the leasing period exceeds six months.

    The
contract for transfer/mortgage/lease of land use rights shall not violate
national laws and regulations as well as this Contract.

    

    Article
25             Once
land use rights are transferred, the rights and obligations specified in the
Contract and registration documents shall be transferred to the Land Use Right
Holder.

    

    Article
26             When
land use rights are transferred/mortgaged/leased, ground buildings and
facilities shall also be transferred/mortgaged/leased.

    

    Article
27             The
transfer/lease/mortgage of the land use rights shall report to the local land
administration.

    

    CHAPTER
V      Expiring of Period

    Article
28             If
the Land Use Right Holder applies to renew the land use right one year before
the expiration date of the Contract, Assignor shall consent unless for reasons
of compelling public interests.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
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    Article
29             If
the application of renewal of the land use right is rejected due to the reason
stipulated in Article 28, the Land Use Right Holder shall return the Certificate
for Use of State-Owned Land, while the Assignor shall withdraw the land use
rights on behalf of the State cancel the registration of land use
rights.

    

    Article
30             If
the Land Use Right Holder does not apply for renewal of the land use right, the
Assignor shall withdraw the land use rights, ground buildings and other
accessories under this Contract for free on behalf of the State, while the Land
Use Right Holder shall be obliged to maintain the conditions of the
infrastructures of the land.

    

    Article
31             If
the application of renewal of the land use right is rejected due to the reason
stipulated in Article 28, the Land Use Right Holder shall return the Certificate
for Use of State-Owned Land, while the Assignor shall withdraw the land use
rights on behalf of the State cancel the registration of land use rights. But
the Assignor shall compensate for the Land Use Right Holder based on the market
price of the ground buildings and other infrastructures.

    

    CHAPTER
VI    Force Majeure

    Article
32             The
two parties shall not be obliged for partially or totally failed performance of
the Contract caused by force majeure, but shall take all necessary remedial
measures when conditions allow, to reduce the losses caused by force majeure.
When force majeure happens after one Party delays the performance, he shall not
be relieved of responsibility.

    

    Article
33             The
Party suffering from force majeure shall notify the other party of the event
within 72 hours via the written form including letter, telegraph, fax, etc, and
submit a report with reasons for partially or totally failed performance or
delayed performance of the Contract to the other party within 15 days after the
date of the event.

    

    CHAPTER
VII             
 Default Liability

    Article
34             The
Land Use Right Holder must pay fees for transfer of land use rights on time
according to this Contract. If the Land Use Right Holder fails to pay fees for
transfer of land use rights on time, he shall pay the Assignor 1‰ of the delayed
payment as late fees per day from the overdue day.

    

    Article
35             The
Assignor shall provide the transferred land on time according to the Contract.
If the Land Use Right Holder’s possession of the land under this Contract is
delayed for the reason that the Assignor fails to provide the transferred land
on time, the Assignor shall pay the Land Use Right Holder 0.5‰ of the fees for
transfer of land use rights already paid by the Land Use Right Holder as a
penalty on every delay day.

    

    Article
36             The
Land Use Right Holder shall start the development construction in accordance
with this Contract. The following condition will be deemed as land idling, and
the Assignor has the right to request the Land Use Right Holder for idle land
fees: the development is not started over one year after the due start date, or
the area of the actual developed land accounts for less than one third of that
of the specified developed area, or the real investment amount accounts for less
than 25% of the total amount, and there is no approval for one-year continuous
suspension for construction from the County Government or the administrative
department of land and resources.

     

    
      The
Assignor and the Land Use Right Holder agree that, idle land fees of the land
under the Contract shall account for 5% of the total fees for transfer of the
land use rights, namely RMB TWO HUNDRED SEVENTY SEVEN THOUSAND THREE HUNDRED
FORTY ONE (277,341 Yuan); when the development is not started over two years
after the due start date, the Assignor can withdraw the land for free, unless
the development is delayed by force majeure, by actions of the government or
government departments, or by the preparation work necessary for starting the
development.

    

     

    Article
37             It is
considered a breach of the Contract if the land delivered by the Assignor fails
to meet the land conditions agreed in this Contract. The Land Use Right Holder
has the right to require the Assignor to fulfill obligations according to the
regulated conditions, and to make compensation for the Land Use Right Holder’s
direct losses caused by delayed performance.

    

    Article
38             The
Land Use Right Holder shall pay the penalty under this Contract if it fails to
invest sufficient funds for construction as defined in Article 15 of this
Contract. The Assignor has the right to require the Land Use Right Holder to
continue fulfilling obligations according to the agreed conditions; the case
that the Land Use Right Holder fails to fulfill obligations shall be processed
as a breach of the Contract.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
       

      English Translation of
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    Article
39             If
the Land Use Right Holder terminates the investment and construction of this
project for its own reason, the Assignor can terminate this Contract and request
to return the land, after the Assignor reports to and gets the approval from the
local administration office which originally approved the land transfer plan,
the Assignor can respectively return the overall or part of the land use right
transfer fee (excluding interest) except the deposit agreed in Article 8 of this
Contract according to the following agreement and different circumstances,
withdraw the land use rights, but make no compensation for built constructions
and structures within this land; the Assignor can also require the Land Use
Right Holder to restore the conditions before the transfer.

    (I)         
If the date when the Land Use Right Holder applies to the Assignor is not less
than 60 days before one year of the construction start date agreed in the
Contract, the Assignor shall return to the Land Use Right Holder the paid land
use right transfer fee after deducting the deposit;

    (II)         
If the date that the Land Use Right Holder applies to Assignor exceeds one year
but within not less than 60 days before two years of the construction start
date, after deducting the deposit agreed in Article 8 of this Contract and
levying land idle fee according to the Article 36 of this Contract, Assignor
shall return to the Land Use Right Holder the remaining paid land use right
transfer fee.

    

    Article
40             If
the Land Use Right Holder reduces the scale investment of the project due to its
own reason and causes some vacant construction land which can be divided and
reused for development and construction, the Land Use Right Holder shall apply
to the Assignor for returning relevant area of construction land 90 days before
the completion of this project. After the approval of the Municipal People’s
Government and the County People’s Government, the Assignor and the Land Use
Right Holder sign the Change Agreement of Land Use Right Transfer Contract, and
the Assignor withdraws the use right of corresponding land parts and returns the
corresponding land transfer fee of the withdrawn land after deducting the
corresponding percentage of deposit.

    

    Article
41             If
the Land Use Right Holder fails to start construction according to the agreed
date in Section 1 under Article 17 of this Contract or according to the
separately agreed delayed construction date in Section 2 under Article 17, the
Land Use Right Holder shall pay the Assignor penalty equivalent to 0.5‰ of the
total  land use right transfer fee.

    

    Article
42             If
Land Use Right Holder fails to finish the construction and apply for final
acceptance on the agreed date as stipulated in Article 1 of Article 17 of this
Contract or on the separately agreed delayed construction date stipulated in
Article 2, the Land Use Right Holder shall pay Assignor penalty equivalent to
0.5‰ of the total land-use right transfer fee.

    

    Article
43            
Within 60 days of the project final acceptance, the Land Use Right Holder shall
provide project final acceptance materials to the Assignor, and the Assignor
shall check the actual investment intensity, land use intensity and so on of
this land according to indexes such as amount of investment, investment
intensity and land use intensity agreed in Article 11, Article 12 and Article
15.

    It is a
breach of Contract if the actual investment intensity and land use intensity of
the Land Use Right Holder fail to meet the two Parties’ agreement, and the
Assignor has the right to charge penalty, and require the Land Use Right Holder
to continue fulfilling obligations.

    

    Article
44             If
the total project investment, fixed assets investment and investment intensity
of unit land use area fail to meet the agreed standard in Article 15 of this
Contract, the Assignor shall require the Land Use Right Holder to pay penalty
equivalent to the same proportion of land use right transfer fee.

    

    Article
45             If
any parameters or the density of the buildings don’t meet the standards
stipulated in Article 11 of this Contract, the Assignor shall require the Land
Use Right Holder to pay penalty equivalent to the same proportion of land use
right transfer fee.

    

    Article
46             If
any parameters or the density of the buildings don’t meet the standards
stipulated in Article 11 and Article 12 of this Contract, the Land Use Right
Holder shall pay the Assignor penalty equivalent to 5% of the land use right
transfer fee, but the Assignor shall voluntarily write down the cost in
associated with the greenaries and the facilities.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
       

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    CHAPTER
VIII  Notification and Instruction

    Article
47            
Notification and communication required or permitted by this Contract shall be
effective from the date of reception.

    

    Article
48             If
one Party concerned changes notification, correspondence address or opening
bank, and account number, he shall inform the new address or opening bank, and
account number to the other Party within 15 days after the changes. Losses
caused by delayed information of either Party shall be the responsibility of the
Party in default.

    

    Article
49             The
Assignor has the obligation to answer the Land Use Right Holder’s questions in
connection with this Contract.

    

    CHAPTER
IX    Applicable Law and Dispute Resolution

    Article
50             The
formation, effect, explanation, performance and dispute resolution of this
Contract shall apply to the laws and regulations in the People’s Republic of
China.

    

    Article
51            
Dispute caused by fulfillment of this Contract shall be resolved by the two
Parties’ through friendly consultation,  local court or arbitration
commission.

    

    CHAPTER
X      Supplementary Articles

    Article
52             This
Contract is effective according to the regulations in Section (o) under this
Article.

    (o) The land transfer plan
under this Contract has already been approved by the City Government of Quanzhou
(QUAN ZHENG DI No. [2006] 790) and Jinjiang City People’s Government (JIN ZHENG
DI No. [2006] 893), and this Contract becomes effective since the date
signed.

    (o) The land transfer plan
under this Contract still needs to be approved by __  People’s
Government, and this Contract becomes effective since the date approved by __
People’s Government.

    

    Article
53             This
Contract is in five originals with the same legal effect: the Assignor and the
Land Use Right Holder each shall have two originals, and the remaining copy
shall file with Bureau of Finance of Jinjiang City.

    

    Article
54             The
total pages of this Contract and the attachment are__ , subject to the size of
the Chinese characters.

    

    Article
55             The
blank area of this  Contract shall be filled out with numbers or
words. Or otherwise, N/A applies.

    

    Article
56             This
Contract is signed on June 30th, 2007 at Jinjiang City, Fujian Province,
People’s Republic of China.

    

    Article
57             Both
the investment agreement and the supplement agreement between Guanwei Optical
Science and Technology Park and  Jinjing City Government of Fujian
Provinceshall have the same legal effect.

    

    Article
58            
Related issues not covered in this Contract shall be resolved by two Parties
through friendly consultation.

    

    
      	
              Assignor
      (Seal):

            	
              Land
      Use Right Holder (Seal):

            
	
              Land
      and Resources Bureau of Jinjiang City (Seal)

            	
              Guanwei
      (Fujian) Electronic Technology Co Ltd

            
	
              Add:
      Qingyangyingbin Road, Jinjiang

            	
              Add:
      Meiling shuanggou xiaban Industrial Zone, Jinjiang

            
	
              Legal
      representative (Entrusted agent)

            	
              Legal
      representative (Entrusted agent)

            
	
              (Signature):

            	
              (Signature):[English
translation for reference only]

    

    Transfer
of State-owned Land Use Rights of Jinjiang City

    Contract
No. 532

    

    JINJIANG
BUREAU OF LAND AND RESOURCES

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Transfer
of State-owned Land Use Rights

    (Applicable
to the Industrial Project Land without Financially Labeling Price)

    Contract
No.: Jin Land Contract [2007] Qingxiezi No.532

     

    CHAPTER
I     General Provisions

     

    Article 1   The
two contracting parties under the Contract hereto:

     

    Transferor:
Bureau of Land and Resources of Jinjiang, Fujian Province, P.R.C.

     

    Transferee:
Guanwei (Fujian)
Electron Technological Industry Co Ltd.

     

    In
accordance with the Land
Administration Law of the People's Republic of China, Order of the President of the
People's Republic of China, Contract Law of the People's Republic of
China and other laws, administrative regulations, local laws and
regulations etc., and adhering to the principle of equality, voluntariness,
making compensation and good faith, the two parties agree to sign this
Contract.

     

    Article 2   The
Transferor transfers the land use rights in accordance with the authorization by
the law. And the use right of the land shall be owned by the People’s Republic
of China, who has the jurisdiction and executive power authorized by
constitution and law, and other rights administered by the State in accordance
with the laws of the People’s Republic of China, as well as the rights and
benefits necessary for interests of the general public. Underground resources,
treasure trove, as well as public utility do not involve in the transferring
scope of land use rights.

     

    CHAPTER
II   Delivery of Land Use Rights and Payment of Transfer
Fees

     

    Article 3   The
land transferred to the Transferee by the Transferor is located at the Houlin Community, Luoshan
Street, the Land No. is ___/__. The land covers
an area of (in words) SEVENTY THOUSAND SEVEN
HUNDRED AND EIGHTY square meters (in numbers: 70,780 square meters),
with the transferred land of (in words)  /  square
meters (in numbers: 70,780 square
meters), and the confiscated road covers an area of (in words)   /   square
meters, (in numbers:   /   
square meters) which will be paid by the way of allocation. The coordinate of
land corners and boundary marks could be found in the attached Boundary Map of Transferred
Land.

     

    Article 4   The
transferred land under this Contract is for the purpose of industry.

     

    Article 5   The
Transferor agrees to deliver the land use rights to the Transferee before July 30th, 2007, and the
Transferee agrees to make sure that the delivered land can reach the conditions
specified in the following Section (III) of this
Article:

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (I)         Ensure
the flatness of the land and / supplies (of
water, power, gas, Internet cable, cable TV, etc.) for the surrounding
infrastructure, namely supply  
/   .

     

    (II)        The
surrounding infrastructures shall be supplied with   
/   item(s), namely   /  ,
but the field is not removed and flattened, while the state of the building and
other ground accessories are as below:     /  
  

     

    (III)       Current
land conditions.

     

    Article 6   The
transfer term of the land under the Contract is 50 years, from the date of June 29th, 2007.

     

    Article 7   The
land use right transfer fees under the Contract is RMB (in words) ONE HUNDRED AND NINETY THREE
POINT THREE FIVE Yuan (in numbers: 193.35 Yuan) per
square meter, so the total fee is RMB (in words) THIRTEEN MILLION SIX HUNDRED EIGHTY FIVE
THOUSAND THREE HUNDRED AND THIRTEEN Yuan–(in numbers: 13,685,313 Yuan),
excluding the land management fee, tax for use of farmland, infrastructure
facility expenditures and land transferring deed tax.

     

    Article
8   Within   /  
days after the Contract signed by both Parties, the Transferee shall pay RMB (in
words)     /    
Yuan, (in numbers     /   
Yuan) to the Transferor as the deposit of contract performance, which shall be
retained as the land use right transfer fee.

     

    Article 9  The
Transferee agrees to pay the above mentioned land
use right transfer fee to the Transferor in accordance with Section (I) under
this Article.

     

    
      	
               
      

            	
              (I)

            	
              Within
      60 days from June 29th 2007, the land
      use right transfer fees above shall be paid all at
  once.

            

    

     

    
      
        	
              	
                (II)

              	
                The
      land use right transfer fees above shall be paid to the Transferor with
      the following dates and amounts in     /    
      installment s.

              

      

    

     

    The first
installment: RMB (in words)       /     Yuan,

    (in
numbers  /  Yuan).
Time of payment: before       /    .

     

    The
second installment: RMB (in words)       /     Yuan,

    (in
numbers   /   Yuan).
Time of payment: before      /    .

     

    The   /  
installment: RMB (in words)       /     Yuan,

    (in
numbers    /   Yuan).
Time of payment: before      /    .

     

    When the
Transferee pays the transfer fees in installments, he shall pay the Transferor
corresponding interest according to bank lending rates over the same period from
the second installment on.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    CHAPTER
III  Development, Building and Utilization of Land

     

    Article 10  Within
30 days after
this Contract is signed, both parties shall verify all markers for boundary
points on site in accordance with those indicated in the Annex “Boundary Map of
Transferred Land”. The Transferee shall properly protect land boundary marker,
and shall not alter them without authorization; once the boundary marker is
destroyed or displaced, the Transferee shall immediately submit a written report
to the Transferor, applying for check measurement of the boundary and restoring
boundary markers.

     

    Article 11   If
the Transferee constructs new buildings within the premises under this Contract,
following requirements shall be met:

     

    Property
of main building:     Plant
and supporting
facilities      ;

     

    Property
of attached buildings:                             
        /             ;

     

    Building’s
floor area ratio:                                    
    ≤2.5           ;

     

    Building
density:                                                       
≤40%   
     ;

     

    Building’s
height limit:                                         
       /               ;

     

    Green
ratio:                                                               
≥30%          ;

     

    
      Other
land use requirements: Execute in accordance with
requirements by planning authorities.

    

     

    In
addition to performing the above specifications, the Transferee agrees that the
floor area ratio for the premises shall not be less than 1.0, and the building
coefficient shall not be less than 30%.

     

    Article
12      The Transferee agrees that the area of
land used for business office and living facilities within the premises shall
not exceed 7%
of area of the premises, that is, not exceed 4,955 square meters
(if the area for office and living facilities cannot be calculated separately,
the apportioned area, which is calculated based on the ratio of the area for
office and living facilities to the total building area, shall be used instead).
The Transferee shall not build non-production facilities such as residential
suite house, expert condominium, hotel, guesthouse, training center, etc. within
the scope of the premises.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Article
13       If the Transferee needs to
change the land use parameters specified in Article 11 and Article 12 of the
Contract, approval shall be obtained from planning authorities and the
Transferor prior to the change, and shall pay the land use transfer fee
according to the amount recalculated by the Transferor.

     

    Article
14       During the transfer, the
Transferee shall use the land in accordance with the land use purpose and land
use conditions specified in the Contract; if the Transferee request to change
the land use conditions like land use purpose, etc. as specified in the
Contract, the parties agree the following Section (1) shall be
observed:

     

    
      	
            	
              (1)

            	
              The
      Transferor shall reclaim the land use right and enter into a new transfer
      in accordance with the law.

            

    

     

    
      	
            	
              (2)

            	
              Prior
      approval by the planning authorities and the Transferor shall be obtained
      and the approving procedures for the change in land use purpose and land
      use conditions shall be followed in accordance with related laws; the
      Transferee shall pay the land use right transfer fee based on the
      difference in land market prices of the premises under the old and new
      land use conditions at the approval of the change; a change agreement to
      the land use right transfer contract or a new land use right transfer
      contract shall be signed; land change registration shall be
      performed.

            

    

     

    Article
15       The Transferee agrees that
the fixed asset investment of the project on the premises under this Contract
shall not be less than the approved or filed USD 15,000,000; unit land
area investment intensity shall not be less than RMB 24,900,000; the
project fixed asset investment includes the buildings, structures, equipment
investment and land price.

     

    The
Transferee shall apply to the Transferor for performance check with valid
capital investment certification within 60 days after the project
completes.

     

    Article
16       The Transferee agrees to
build the following buildings within the scope the premises under this Contract
and these buildings will be transferred to the government free of charge after
they are completed:

     

    
      	
            	
              (1)

            	
                                   None    
                
        ;

            

    

     

    
      	
            	
              (2)

            	
                                   None     
               
        ;

            

    

     

    
      	
            	
              (3)

            	
                         
               None            
           ;

            

    

     

    Article
17       The Transferee agrees that
the construction starts before December 31, 2008 and shall complete for
production before December 31, 2010 (with the exception of cases of force
majeure).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    In case
that the construction cannot be started on schedule, the Transferee shall make
application of construction postponement to the Transferor 30 days in advance;
the project completion date and the completion acceptance inspection application
date can be accordingly postponed based on the agreed construction postponement
date, but the postponement shall not exceed one year at the most.

     

    Article
18       During the construction
carried out within the premises by the Transferee, the interfacing and
connection of water, gas, sewage and other facilities with the main pipeline and
power station outside the premises shall be performed in accordance with related
regulations.

     

    The
Transferee agrees that any pipe and pipeline necessary for public facilities can
have access, pass and put through the transferred premises.

     

    Article
19        Within 30 days after
paying the full land use right transfer fee under this Contract, the Transferee shall apply
to the Transferor for land registration with this Contract and the land use
right transfer fee payment receipt as required to obtain the State-owned Land
Use Right certificate and the land use right for the transferred
premises.

     

    Within 30
days after accepting the land registration application, the Transferor shall
follow the procedures of transferred land use right registration for the
Transferee and issue the State-owned Land Use Right certificate.

     

    Article 20        The
Transferee must use the land in a lawful and reasonable manner, and all the
activities on the transferred premises shall not impair or destroy the
surrounding environment or facilities; for any loss suffered by the country or
any other person, the Transferee shall be liable for compensation.

     

    Article 21        Government
reserves the right to adjust urban planning of the premises under this Contract;
if the original land use plan is changed, the existing buildings on the premises
shall not be affected; however, in case that the buildings and attachments are
under alteration, renovation, or reconstruction within the use limit or the
application for renewal is under way when the use limit expires, the effective
plan at the time shall be implemented.

     

    Article 22        The
Transferor shall not withdraw the land use right legally obtained by the
Transferee before the use limit specified in the Contract expires; in
exceptional circumstances, when, according to the social public interests, the
land use right shall be withdrawn prior to the expiration, the Transferor shall
submit for approval in accordance with legal procedures, and shall provide the
Transferee with appropriate compensation according to the value of the buildings
and other attachments on the premises and the price of land use right for the
remaining years at the withdrawal.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    CHAPTER
IV  Transfer, Lease and Mortgage of Land Use Rights

     

    Article
23    After having paid all fees for transfer of land
use rights, get the Certificate for Use of State-Owned Land and obtained the
transferred land use rights in accordance with the Contract, the Transferee has
the right to transfer, lease or mortgage all or part of the land use rights
under this Contract. However, the first transfer (including sale, exchange and
donation) of unexpired land use rights shall be confirmed by the Transferor to
satisfy the conditions of the following Section (I):

     

    (I)
Conduct development investment in accordance with the Contract, accounting for
over twenty-five per cent of the total investment;

     

    (II)
Conduct development investment in accordance with the Contract, forming
conditions of industrial land or other construction land.

     

    Article
24    For transfer/mortgage of land use rights, both
involved sides shall reach and sign a transfer/mortgage contract; in case of
leasing land use rights for over six months, the Lessor and the Lessee shall
also reach and sign a lease contract.

     

    The
contract for transfer/mortgage/lease of land use rights shall not violate
national laws and regulations as well as this Contract.

     

    Article
25    Once land use rights are transferred, the
rights and obligations specified in the Contract and registration documents are
transferred as well. The use period of the transferred land use rights shall be
the result after deducting the period of the rights having already been used
from the period agreed in the Contract. After all or part of the land use rights
under this Contract are leased, the rights and obligations specified in the
Contract and registration documents shall still be born by the
Transferee.

     

    Article  26    When
land use rights are transferred/mortgaged/leased, ground buildings and other
accessories shall also be transferred/mortgaged/leased; when ground buildings
and other attachments are transferred/mortgaged/leased, land use rights shall
also be transferred/mortgaged/leased.

     

    Article
27    For transfer/lease/mortgage of land use rights,
both involved sides shall, within 30 days after the date of signing
corresponding contract, take this Contract, corresponding
transfer/lease/mortgage contract and the Certificate for Use of State-Owned
Land, and go to the land administrative departments to apply for and conduct
land registration.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    CHAPTER
V   Expiring of Period

     

    Article
28    When the use period agreed under this Contract
is about to expire and the land user need continue using the land under this
Contract, he shall, one year before the expiring day to the latest, submit the
renewal application to the Transferor; the Transferor shall approve such
application, unless the land under this Contract shall be withdrawn for the
public interest.

     

    When the
Transferor agrees to renew the Contract, the Transferee shall finish land
compensation procedures according to laws, sign a land compensation contract
with the Transferor, and pay land compensation fees.

     

    Article
29    When the use period agreed under this Contract
expires and the Transferee does not apply for renewal, or when Transferee’s
application for renewal is not approved according to Article 28 of this
Contract, the Transferee shall return the Certificate for Use of State-Owned
Land, while the Transferor shall withdraw the land use rights on behalf of the
State, and make the cancellation registration of land use rights as per related
regulations.

     

    Article
30    When the transfer period agreed under this
Contract expires and the Transferee does not apply for renewal, the Transferor
shall withdraw the land use rights, ground buildings and other accessories under
this Contract for free on behalf of the State, while the Transferee shall
maintain, but not damage on purpose, the formal functions of the ground
buildings and other accessories. If the ground buildings and other accessories
lose their formal functions, the Transferor can require the Transferee to move
or remove the ground buildings and other accessories, and restore the flat
ground.

     

    Article
31    When the use period agreed under this Contract
expires and the Transferee’s application for renewal is not approved by the
Transferor according to Article 28 of this Contract, the Transferor shall
withdraw the land use rights for free on behalf of the State, but the Transferor
shall give some compensation to the Transferee according to the remain values of
the ground buildings and other accessories.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    CHAPTER
VI  Force Majeure

     

    Article
32    Either party shall not be held by liabilities
for partially or totally failed performance of the Contract caused by force
majeure, but shall take all necessary remedial measures when conditions allow,
to reduce the losses caused by force majeure. When force majeure happens after
one Party delays the performance, he shall not be relieved of
responsibility.

     

    Article
33    The Party suffering from force majeure shall
notify the other party of the event within 72 hours via the
written form such as letter, telegram, telex, fax, etc., and submit a report of
reasons for partially or totally failed performance or delayed performance of
the Contract to the other party within 15 days after the day
of the event.

     

    CHAPTER
VII  Default Liability

     

    Article
34    The Transferee must pay fees for transfer of
land use rights on time according to this Contract. If the Transferee fails to
pay fees for transfer of land use rights on time, he shall pay the Transferor
1‰ of the
delayed payment as late fees per day from the overdue day. When the payment is
overdue for over six months, the Transferor has the right to terminate the
Contract and withdraw the land, while the Transferee has no right to request the
return of deposit. In addition, the Transferor has the right to request the
Transferee to compensate for other losses resulting from breach of the
Contract.

     

    Article
35    When the Transferee has paid fees for transfer
of land use rights on time, the Transferor shall provide the transferred land on
time according to the Contract. If the Transferee’s possession of the land under
this Contract is delayed for the reason that the Transferor fails to provide the
transferred land on time, the Transferor shall pay the Transferee 0.5‰ of the fees for
transfer of land use rights already paid by the Transferee as a penalty on every
delay day. If the Transferor’s handover of the land is overdue for over six
months, the Transferee has the right to terminate the Contract, while the
Transferor shall return double the deposit and the rest of the already paid fees
for transfer of land use rights. In addition, the Transferee has the right to
request the Transferor to compensate for other losses resulting from breach of
the Contract.

     

    Article
36    The Transferee shall start the development
construction on time in accordance with this Contract. The following condition
will be deemed as land idling, and the Transferor has the right to request the
Transferee for idle land fees: the development is not started over one year
after the due start date, or the area of the actual developed land accounts for
less than one third of that of the specified developed area, or the real
investment amount accounts for less than 25% of the total amount, and there is
no approval for one-year continuous suspension for construction from the County
Government or the administrative department of land and
resources.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    The
Transferor and the Transferee agree that, idle land fees of the land under the
Contract shall account for 5% of the total fees for transfer of the land use
rights, namely RMB SIX HUNDRED EIGHTY FOUR THOUSAND TWO HUNDRED SIXTY
FIVE (in number: 684,265 Yuan); when the development is not started over
two years after the due start date, the Transferor can withdraw the land for
free, unless the development is delayed by force majeure, by actions of the
government or government departments, or by the preparation work necessary for
starting the development.

     

    Article
37    It is considered as a breach of the Contract if
the land delivered by the Transferor fails to meet the land conditions agreed in
this Contract. The Transferee has the right to require the Transferor to fulfill
obligations according to the regulated conditions, and to make compensation for
the Transferee’s direct losses caused by delayed performance.

     

    Article
38    The Transferee shall pay the penalty under this
Contract if he fails to invest sufficient funds for construction according to
Article 15 of this Contract. The Transferor has the right to require the
Transferee to continue fulfilling obligations according to the agreed
conditions; the case that the Transferee fails to fulfill obligations shall be
processed as a breach of the Contract.

     

    Article
39    If the Transferee terminates the investment and
construction of this project for his own reason, proposing the Transferor to
terminate this Contract and applying to return the land, after the Transferor
reports to and gets the approval from the People’s Government or authority
office who originally approved the land transfer plan, the Transferor can
respectively return the overall or part of the land use right transfer fee
(excluding interest) except the deposit agreed in Article 8 of this Contract
according to the following agreement and different circumstances, withdraw the
land use rights, but make no compensation for built constructions and structures
within this land; the Transferor can also require the Transferee to clear up the
built constructions and structures to recover the land formation.

     

    (I)        If
the date when the Transferee applies to the Transferor is not less than 60 days
before one year of the construction start date agreed in the Contract, the
Transferor shall return to the Transferee the paid land use right transfer fee
after deducting the deposit;

     

    (II)       If
the date that the Transferee applies to Transferor exceeds one year but within
not less than 60 days before two years of the construction start date, after
deducting the deposit agreed in Article 8 of this Contract and levying land idle
fee according to the Article 36 of this Contract, Transferor shall return to the
Transferee the remaining paid land use right transfer fee.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Article
40    If the Transferee reduces the scale investment
of the project due to its own reason and causes some vacant construction land
which can be divided and reused for development and construction, the Transferee
shall apply to the Transferor for returning relevant area of construction land
90 days before the completion of this project. After the approval of the
Municipal People’s Government and the County People’s Government, the Transferor
and the Transferee sign the Change Agreement of Land Use Right Transfer
Contract, and the Transferor withdraws the use right of corresponding land parts
and returns the corresponding land transfer fee of the withdrawn land after
deducting the corresponding percentage of deposit.

     

    Article
41    If the Transferee fails to start construction
according to the agreed date in Section 1 under Article 17 of this Contract or
according to the separately agreed delayed construction date in Section 2 under
Article 17, the Transferee shall pay the Transferor penalty equivalent to 0.5‰
of the total land use right transfer fee for each delayed day; if any vacant
land is caused, the Transferee shall also pay the Transferor land idle fee
according to the agreement of Article 36 of this Contract.

     

    Article
42    If Transferee fails to finish the construction
and apply for final acceptance on the agreed date in Article 1 of Article 17 of
this Contract or on the separately agreed delayed construction date in Article
2, Transferee shall pay Transferor penalty which is equivalent to 0.5‰ of the
total land-use right transfer fee for each delayed day.

     

    Article
43     Within 60 days of the project final
acceptance, the Transferee shall provide project final acceptance materials to
the Transferor, and the Transferor shall check the actual investment intensity,
land use intensity and so on of this land according to indexes such as amount of
investment, investment intensity and land use intensity agreed in Article 11,
Article 12 and Article 15.

     

    It is a
breach of Contract if the actual investment intensity and land use intensity of
the Transferee fail to meet the two Parties’ agreement, and the Transferor has
the right to charge penalty, and require the Transferee to continue fulfilling
obligations.

     

    Article
44     If the total project investment
amount, fixed
assets investment amount and investment intensity of unit land use area fail to
meet the agreed standard in Article 15 of this Contract, according to the
proportion accounted between the actual balance parts and the agreed investment
amount and investment intensity indexes, the Transferor shall require the
Transferee to pay penalty equivalent to the same proportion of land use right
transfer fee.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Article
45     If any index of project
floor area ratio, and building density is not up to the agreed standard in
Article 11 of this Contract, according to the proportion accounted between the
actual balance parts and the agreed standard, the Transferor shall require the
Transferee to pay penalty equivalent to the same proportion of land use right
transfer fee.

     

    Article
46     If any index of industrial construction
project greening ratio and land use proportion of enterprise interior
administrative office work and life service facilities is beyond the agreed
standard in Article 11 and Article 12 of this Contract, the Transferee shall pay
the Transferor penalty equivalent to 5% of the land use right transfer fee and
voluntarily tear down the corresponding greening and construction
facilities.

     

    CHAPTER
VIII   Notification and Instruction

     

    Article
47      Notification and communication
required or permitted by this Contract, no matter in what way it is transferred,
is effective since being actually received.

     

    Article
48      If one Party concerned changes
notification, correspondence address or opening bank, and account number, he
shall inform the new address or opening bank, and account number to the other
Party within 15 days after the changes. Losses caused by delayed information of
either Party shall be the responsibility of the Party in default.

     

    Article
49       When signing this Contract,
the Transferor has the obligation to answer the Transferee’s questions regarding
this Contract.

     

    CHAPTER
IX  Applicable Law and Dispute Resolution

     

    Article
50       The formation, effect,
explanation, performance and dispute resolution of this Contract are all
applicable to the law of the People’s Republic of China.

     

    Article
51       Dispute caused by fulfillment
of this Contract shall be resolved by two Parties’ negotiation; if the
negotiation fails, the dispute shall be resolved according to the way regulated
in Article (II):

     

    
      	
               
      

            	
              (I)

            	
              Submit
      to                 
      Arbitration Commission for
arbitration;

            

    

     

    
      	
               
      

            	
              (II)

            	
              Sue
      to the People’s Court according to the
law.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    CHAPTER
X     Supplementary Articles

     

    Article
52     This Contract is effective according to
the regulations in Section (I) under this Article.

     

    (I) The
land transfer plan under this Contract has already been approved by Quanzhou City
People’s Government (QUAN ZHENG DI No. [2007] 789) and Jinjiang City
People’s Government (JIN ZHENG DI No. [2007] 894), and this Contract becomes
effective since the date signed.

     

    (II) The
land transfer plan under this Contract still needs to be approved by XXX People’s
Government, and this Contract becomes effective since the date approved by XXX People’s
Government.

     

    Article
53     This Contract is in five copies, all
having the same legal force: the Transferor and the Transferee each has two
copies, and the remaining copy is to be filed with Bureau of Finance of Jinjiang
City

     

    Article
54     The total pages of this Contract and the
attachment are         
, subject to the size and font of the Chinese writing.

     

    Article
55     The amount and area items shall be
written both in words and numbers at the same time; the amount in words and
numbers shall be uniform; if not, the one in word shall dominate.

     

    Article
56     This Contract is signed on June 30th, 2007 in
Jinjiang City Fujian Province, People’s Republic of China.

     

    Article
57     Guanke Optical Science and
Technology Park Investment Agreement and Supplemental Agreement of Guanke
Optical Science and Technology Park Investment Agreement signed between
Jinjing People’s Government of Fujian Province and the Transferee, as the
attachments of this Contract, both have the same legal force as this
Contract.

     

    Article
58      Matters not covered in this
Contract can be agreed by two Parties as the attachments of this Contract, with
the same legal force as this Contract.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          	
                  Transferor
      (Seal):

                	 	
                  Transferee
      (Seal):

                
	 
      	 	 
      
	
                  Land
      and Resources Bureau of Jinjiang City (Seal)

                	 	
                  Guanwei
      (Fujian) Electron Technological Industry Co Ltd

                
	 
      	 	 
      
	
                  Add: Qingyangyingbin
      Road, Jinjiang

                	 	
                  Add: Meiling shuanggou
      xiaban Industrial Zone, Jinjiang

                
	 
      	 	 
      
	
                  Legal
      representative (Entrusted agent)

                	 	
                  Legal
      representative (Entrusted agent)

                
	
                  (Signature):

                	 	
                  (Signature):

                
	 
      	 	 
      
	
                  Tel:
      0595-85681552

                	 	
                  Tel:
      0595-82005598

                
	 
      	 	 
      
	
                  Fax:
      0595-85665335

                	 	
                  Fax:
      0595-82005156

                
	 
      	 	 
      
	
                  Telegram:

                	 	
                  Telegram:

                
	 
      	 	 
      
	
                  Bank
      of account:

                	 	
                  Bank
      of account:

                
	 
      	 	 
      
	
                  Account
      No.:

                	 	
                  Account
      No.:

                
	 
      	 	 
      
	
                  Postal code:
      362200

                	 	
                  Postal code:
      362200

                
	 
      
	
                  Appendix: Boundary Map
      of Transferred
Land

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