Document:

English Translation of License Agreement date December 20, 2007

 Exhibit 10.3 
 License Agreement 
 for 
 Hydrochlorination Process to Produce Trichlorosilane from Silicon 
 Tetrachloride 
 Party A: Xuzhou Southeast Polysilicon Materials Development & Research Co., Ltd. 
 Party B: Hualu Engineering & Technology Co., Ltd. 
 Party C:
Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd. 
 Party A and Party B collectively act as the proprietary and patent applicants (hereinafter
referred to as “Technology proprietary or patentee”) of hydrochlorination method in production of trichlorosilane from silicon tetrachloride, and Party C provides necessary location, equipments and other logistic supports for development
of the technology. In consideration of efforts made by the parties hereto in the development and research of the hydrochlorination method in production of trichlorosilane from silicon tetrachloride, the Agreement with regard to such process as
aforesaid and technical secret as well as patent use right is hereby concluded in accordance with “Patent Law of the People’s Republic of China”, “Implementing Regulations of the Patent Law of the People’s Republic of
China” and provisions of other relevant laws and regulations on the basis of friendly consultations, as follows: 
 I. Payment of technology price

 1. The Technology proprietary or patentee unanimously agree to confer Party C with the right to permanently use for free the hydrochlorination method
in production of trichlorosilane from silicon tetrachloride and technical secret for the first phase of 1,500 ton/year polysilicon project of Party C as well as the right to implement permission for free after obtaining the patent right of such
technology. 
 2. Party C shall, commence from the second phase of the project, pay the Technology proprietary or patentee with a sum totaling RMB5,000,000
Yuan (reading: RMB Five Million Yuan in all) serving as fees for permanent implement permission of such patent technology for each 1,500 ton/year extension of production capacity of polysilicon (such fees shall include without limitation to fees for
technology implementation permission, technology instruction, training, etc. Party C shall not make other payment to the Technology proprietary or patentee in addition to such fees as aforesaid) and shall pay to the Technology proprietary or
patentee with 50% of the fees for technology implementation permission within one month after obtaining the government approval 

 
on the corresponding project and commencement of entrusting design of the project. Party C shall within one month when the actual production capacity reaches
the design production capacity pay to the Technology proprietary or patentee with the remaining 50% of fees for technology implementation permission. Each expansion of production capacity shall be subject to governmental approval and the scale of
the entrusting design. The actual enlarged production capacity shall be subject to verification and confirmation by relevant competent authority. 
 The
Technology proprietary or patentee shall issue formal invoice to Party C for such fees and Party C shall upon receipt of such invoices remit such sum specified in such invoices to the bank account/accounts as may be designated by the Technology
proprietary or patentee in the manner of telegraphic transfer or bank transfer. 
 3. Party C shall within seven (7) working days upon taking effect of
the Agreement pay the Technology proprietary or patentee 50% of fees for technology implementation permission for the second phase of 1,500 ton/year polysilicon project serving as an advance payment, totaling RMB2,500.000 Yuan, and shall, within one
month when the actual production capacity reaches the design production capacity, pay the Technology proprietary or patentee the remaining 50%. Payment for the fees of the third phase and subsequent project shall be similarly made upon being
approved by competent governmental authority and commencement of entrusting design. 
 4. The three parties hereto unanimously agree that Party C shall for
each payment for such fees pay *** of the total sum to the account of Party A hereto and pay *** of the total sum to the account of Party B hereto. Party A and Party B shall respectively be responsible for compensating their internal employees.
Party C shall not be held responsible with regard to employees of Party A and Party B. 
 5. Party A and Party B shall be responsible for coordination with
their respective technology inventors so as to make clear the ownership of such technology and distribution scheme regarding rights and interests in writing. In case the technology inventor should claim for any right or interest relating to
intellectual property right against Party C, Party A or Party B shall respectively be liable for settlement of dispute and relevant responsibilities and obligations. In case Party C should have any economic loss so incurred, Party A and Party B
shall respectively, jointly and severally indemnify Party C. 
 6. Payment from Party C under the Agreement shall be subject to the precondition that
intellectual property right of the technology has been obtained by Party A and Party B. The obtainment of such intellectual property right shall be marked by the legal patent application number. 
 II. Confidentiality of use of technology 
 All parties hereto
unanimously undertake to strictly keep the confidentiality of any and all technology, technology secret, technical data and other confidential issues pertaining to hydrochlorination method in production of trichlorosilane from silicon tetrachloride
and not to disclose to any third party. 
  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

 III. Guarantee of the Technology proprietary or patentee 
 1. The Technology proprietary or patentee shall undertake the completeness, accuracy and legibility of any and all technical data as may be provided to Party C and shall
guarantee to deliver such technical data punctually. The Technology proprietary or patentee shall be responsible for providing trainings for technicians of Party C so that such trainees may be able to manufacture high quality products in the plant
by employing such data and proprietary knowledge as may be provided by the Technology proprietary or patentee and that the design production capacity of qualified products can be reached. 
 2. The Technology proprietary or patentee undertakes to provide the up to date technical data that has been used by them to Party C and Party B undertakes to timely
provide any subsequently updated technical data. 
 3. The Technology proprietary or patentee undertakes that such technology enables Party C to produce
qualified highly pure polysilicon products and may contribute to realize the design production capacity. In the event that the performance standards or capacity is not satisfied within a reasonable period of time, the Technology proprietary or
patentee shall indemnify Party C appropriately, provided that such compensation shall not exceed the fees for the technology implementation permission. 
 4.
During the period of implementation of hydrochlorination method in production of trichlorosilane from silicon tetrachloride by Party C, in case any third party should claim for any technology infringement against Party C, the Technology proprietary
or patentee shall actively give assistance to Party C in handling such cases so as to minimize the loss of Party C. In case Party C should be considered to infringe any third party’s rights and interests due to use of such technology as
permitted by the Technology proprietary or patentee when competent judicial authority, the Technology proprietary or patentee shall so refund any and all fees received from Party C and indemnify any and all direct and indirect loss of Party C so
incurred. 
 IV. Guarantee of Party C 
 Party C shall not,
without prior consent of Party A and Party B, disclose any technical secret provided herein to any third party. Any and all personnel of Party C who have direct access to such technical secret shall formulate confidential agreements with Party C and
undertake not to breach provisions of the previous sentence. In case any personnel of Party C should release or disclose such technical secret to any third party, Party C and relevant personnel so involved shall be liable for responsibilities
accordingly. 
 V. Rights and interests regarding update of technology 
 1. Any party hereto shall notify the other parties without delay if it updates the hydrochlorination method in production of trichlorosilane from silicon tetrachloride. 

 2. If improvement on the basis of the original is minor, improved technology shall be disclosed to the other parties for
use for free. 
 3. In case Party A and Party B shall achieve any material improvement and development from implementation of the hydrochlorination method in
production of trichlorosilane from silicon tetrachloride other than in any phase of polysilicon project of Party C, any and all patent right so applied and achieved shall belong to both Party A and Party B, provided that Party C shall have priority
right and with preferential price to use such new technology and during such period, Party C shall be entitled to use this new technology for free. In case any material improvement and development from implementation of the hydrochlorination method
in production of trichlorosilane from silicon tetrachloride should be achieved in any phase of project of Party C, any and all patent right so newly applied and achieved shall belong to Party A and Party B in a proper proportion, and Party C shall
have the right to use such improved technology for free for such phase and shall have priority right and with preferential price to use such improved technology in other phases. 
 4. As to any and all technology so improved, Party A and Party B shall be responsible for keeping the confidentiality of such improved technology (except for the purpose of application with any competent authority for
patent right). Party A and Party B shall guarantee not to in any form unilaterally disclose or transfer such improved technology to, or permitted it to be used by any other personnel or any company without prior consent of other parties. In case any
permit or assignment should be made when agreed by the parties in writing, such permit or assignment shall be subject to a strict confidential agreement entered into by the parties. 
 VI. Joint obligations of the parties 
 In case any party hereto discovers that the technical secret of the Technology
proprietary or patentee is infringed by any third party, it shall notify Party A and Party B without delay and then the Technology proprietary or patentee shall promptly handle such case or appeal to any competent authority or bring an action with
the local people’s court and the other parties hereto so involved shall give due assistances. 
 VII. Exemption due to force majeure event

 In case any obligation of any party hereto under the Agreement shall be prevented from being performed due to an event of force majeure such as fire
disaster, flood, seism, war, etc, the other parties shall take due measures so as to mitigate or eliminate any and all losses so caused and such party so prevented shall notify the other parties without delay. 
 VIII. Settlement of dispute 
 Any and all issues not covered herein
shall be subject to amicable agreement of the parties involved. In case no agreement can be reached, the case in dispute shall be submitted to the China International Economic and Trade Arbitration Commission in Beijing for arbitration according to
its valid arbitration rules then. 

 IX. Effectiveness of Agreement 
 The Agreement shall come into force upon being sealed by Party A, Party B and Party C and being signed by their respectively authorized representatives. 
 X. Miscellaneous 
 The Agreement is executed in nine counterparts, with each party hereto holding three counterparts.

 Party A: Xuzhou Southeast Polysilicon Materials Development & Research Co., Ltd. (chopped) 
 Legal representative (or authorized agent) 
 (Signature and seal) 

Date:                      
 Tel: 
  

			
	Party B: Hualu Engineering & Technology Co., Ltd.	  	Special seal for Contract (chopped)
	Legal representative (or authorized agent)	  	

 (Signature and seal) 
 Date: 12/19/07 
 Tel: 
  

			
	Party C: Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd.	  	Special seal for Contract (chopped)

 Legal representative (or authorized agent) 
 (Signature and seal) 
 Date: 12/20/07 
 Tel:English Translation of Polysilicon Supply Agreement dated June 22, 2008

 EXHIBIT 10.5 
 Polysilicon Supply Agreement 
 By and between 
 Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd. 
 And 
 Jiangsu Linyang Solarfun Co., Ltd. 
 Serial Number on the side of the Seller: 
 Serial Number on the side of the Buyer: 
 June 22, 2008 
  

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 This Polysilicon Supply Agreement is executed by the following parties on June 22, 2008. 
 Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd., a company incorporated in the People’s Republic of China with its legal address at No. 666,
Yangshan Road, Xuzhou Economic Development Zone, Jiangsu Province, PRC (hereinafter referred to as “Seller”). 
 Jiangsu Linyang Solarfun
Co., Ltd., a company incorporated in the People’s Republic of China with its legal address at 66 Linyang Road, Qidong City, Jiangsu Province (hereinafter referred to as “Buyer”). 
 The Buyer and the Seller are each hereinafter also referred to as the “Party” and, collectively as the “Parties”. 
 PREAMBLE 
 WHEREAS, the Buyer intends to engage in a
long-term trade relationship with the Seller and to purchase certain quantities of solar grade polysilicon from the Seller, and the Seller intends to be a supplier and to sell certain quantities of solar grade polysilicon to the Buyer; and

 NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties, covenants and agreements herein contained, the Seller and
the Buyer agree as follows: 
 1. DEFINITIONS 
 As used herein, unless otherwise agreed in the clauses of this Agreement, or defined by the context, the following terms shall have the following meaning: 
 Agreement means this Polysilicon Supply Agreement, including all Exhibits hereto, as it may be amended, modified or supplemented from time to time in accordance with its terms. 
 Term of this Agreement means the period from the Effective Date of this Agreement to the expiry date of it, which is the effective term of this
Agreement. 
 Business Day means any day on which companies in the PRC are generally open for business, including a Saturday or Sunday
which the PRC government temporarily declares to be a working day (“Working Rest Day”), but excluding a statutory holiday, or a Saturday or Sunday other than a Working Rest Day. 
  

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 Effective Date means the date the Parties duly sign this Agreement. 
 Agreement Year means each calendar year during the Term of this Agreement, i.e. from January 1 to December 31. The first Agreement Year
shall be from the Effective Date to December 31,2008. 
 Affiliate or Affiliates means any company which is directly or
indirectly controlled by, or under the same control with, controls or jointly controls another company with, each Party. 
 The term
“control” as used in the preceding Clause 1.6 means, with respect to a corporation, the right to exercise, directly or indirectly, fifty percent (50%) or more of the voting rights attributable to the shares of such
corporation. 
 Loss or Losses means any and all damages, fines, fees, taxes, penalties, deficiencies, losses (including lost
profits or diminution in value) and expenses, including interest, reasonable expenses of investigation, court costs, reasonable fees and expenses of attorneys, accountants and other experts or other expenses of any proceedings or of any claim,
default or assessment (such fees and expenses to include all fees and expenses, including fees and expenses of attorneys, incurred in connection with (i) the investigation or defense of any third party claims, (ii) asserting or disputing
any rights under this Agreement against any Party hereto or otherwise, or (iii) settling any action or proceeding or threatened action or proceeding). 
 Intellectual Property means all the rights from any of the following items: invention, discovery, improvement, utility, model, copyrightable work, industrial design or mask work, algorithm, data structure,
trade secrets or know-how, confidential information, or any idea having commercial value. Intellectual Property shall also include any trademark, trade dress, trade name, domain name, or other marks that serve to identify and distinguish goods or
services as coming from, or falling under the control of, a single source. Intellectual Property shall include all rights of whatsoever nature in computer software and 

  

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data, all intangible rights or privileges of a nature similar to any of the foregoing in every case in any part of the world, and all rights in any
applications and granted registrations for any of the foregoing rights. 
 China or PRC means the People’s Republic of
China. But in this Agreement, shall not include Hong Kong , Macao, or Taiwan district. 
 Renminbi or RMB means the lawful
currency of China. 
 Laws means the laws, regulations, rules, and other legislative, executive or judicial notices, decisions or
pronouncements binding on either Party, or in relation to the subject matter of this Contract. 
 Products means the solar grade
polysilicon as defined in Products specification in Exhibit A of this Agreement. The Seller agrees to sell and deliver and the Buyer agrees to buy and acquire the Products with such specification. 
 Payment means the total amount of the price (net price) of the Products and the tax borne by the Buyer per each invoice of Seller to Buyer.

 Advance Payment shall have the meaning as defined in Clause 3.5.1 of this Agreement. 
 Total Agreement Price means the tax-included total price as stipulated in Exhibit B . 
  

	2.	GENERAL PROVISIONS 

  

	2.1.	The Preamble in the above context and Exhibits attached hereto constitute an integral part of this Agreement. 

  

	2.2.	Headings preceding the text, articles and clauses hereof have been inserted solely for convenience and reference and shall not be construed to affect the meaning, construction or
effect of this Agreement. 

  

	2.3.	During the Term of this Agreement, the Buyer shall purchase, accept and pay for the Products, subject to the terms and conditions herein. 

  

	2.4.	During the Term of this Agreement, the Seller shall sell and deliver the Products, subject to the terms and conditions herein. 

  

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	2.5.	Term of this Agreement shall be from the Effective Date to December 31, 2015, and unless early terminated or canceled in accordance with the terms of this Agreement, this
Agreement shall continue in full force until both Parties have completed their obligations as detailed herein. 

  

	2.6.	Take or Pay Agreement. This Agreement is a “take or pay agreement” such that Buyer is absolutely and irrevocably required to accept and pay for the contracted volume of
Products per year in the Term of this Agreement at the prices set forth in Exhibit B, except as otherwise provided in this Agreement, In the event that Buyer fails to perform its contracted volume (including but not limit to: fails to order
contracted volume and fails to pay the account payable) in a given year, the Seller is entitled to, at the end of that given year, give payment notice to the Buyer regarding the difference between the ordered and the contracted volume per
Exhibit B at their full contract price and the Buyer is liable to pay such full price for the contracted but not ordered Products for the given year as specified in that notice within *** of the notice date. The Buyer specifically acknowledges
and accepts that it will be liable for the full purchase price of volume differentia between the ordered and the contracted volume. Upon the payment of aforesaid price, the ownership of the relevant Products shall be transferred to the Buyer and
delivered in accordance with the provisions in this Agreement. The Buyer should pick up the Products on time pursuant to this Agreement. In such case, the Seller shall bear no liabilities in delay delivery and the Buyer should bear all the risk,
loss and liabilities arisen, and the Buyer is obligated to compensate for all the loss and expenses suffered by the Seller. In the event that the Seller obtain all the payment and interest as stipulated in this Clause through reselling the Products
pursuant to the second paragraph of Clause 3.6.4 of this Agreement and being compensated by the Buyer for the cost and Loss, the Seller shall not claim the payment pursuant to the afore-said provisions for the difference volume.

  

	2.7.	Except the two circumstances as specified hereinafter, the Buyer shall not resell Products or be a reseller or distributor of Products supplied by Seller without prior written
consent from the Seller: (i) the Buyer use Products for its purpose of production, or: (ii) the Buyer resell or distribute Products to its Affiliates. 

  

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	2.8.	The Buyer may transfer the Products obtained in terms of this Agreement in part or in total to one or more of its Affiliates and to avoid any doubt, specifically to the entity
Jiangsu Yangguang Jingyuan Technology Co., Ltd. If the Buyer transfers the Products obtained in terms of this Agreement in part or in total to its other Affiliates other than Jiangsu Yangguang Jingyuan Technology Co., Ltd., it should give a ***
prior notice to the Seller. Except otherwise agreement reached between them, the Seller bears on obligation and liabilities under this Agreement to the Affiliates. 

  

	3.	SUPPLY OF PRODUCTS 

  

	3.1.	Products 

 The Products to be supplied under this Agreement
shall meet the specification as stipulated in Exhibit A to this Agreement or the specification which have been amended and executed by the Parties at the time of supply. The specifications set forth in Exhibit A may be amended only in
writing upon the agreement of the Seller and the Buyer. 
  

	3.2.	Price 

  

	3.2.1.	The price of Products during the Term of this Agreement shall be fixed as set forth in Exhibit B. The Parties hereto agree that upon the execution of this Agreement, neither
Party may require the adjustment of the said price by the other Party for any grounds. 

  

	3.2.2.	The price in this Agreement shall be quoted as VAT-included price (the Value Added Tax rate is 17%), and subject to adjustment when issuing an invoice if any change of the Value
Added Tax rate is made by the government. The price shall not include any expense for transportation, insurance and other logistic procedures, or any other tax borne by the Buyer. 

  

	3.3.	Volume 

  

	3.3.1.	The volume of Products supplied during the Term of this Agreement shall be set forth in Exhibit B, provided, however, Seller may through prior written notice at the
beginning *** of each quarter adjust the supply plan of the Products supplied in every quarter (“quarter” referred to as each period of three months from July 2008, and so forth) within *** of the total volume of the
products supplied in the past three months in a given quarter. The Seller shall make up for the short supply to 

  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

  

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the scheduled volume within *** of the following quarter. In this case the Seller shall not bear liability for delay in delivery. Otherwise, Seller shall be
responsible for liquidated damages per Clause 8.3. In addition, the parties hereto agree that upon the execution of this Agreement, neither Party may require the adjustment of the said volume by the other Party for any grounds. The Products
shall be invoiced in accordance with Clause 3.5.3 hereunder. In case there are delays in delivery, the Products can be priced with the scheduled price of delivery date and the price difference can be deducted by the Buyer from upcoming
payments. 

  

	3.4.	Quality 

  

	3.4.1.	The quality standard of the Products under this Agreement shall follow Products specification in Exhibit A to this Agreement. In case of any dispute arising concerning the
Products’ quality, the Parties shall entrust official authentication institute for an authentication report and the authentication report shall prevail in respect of the quality of the Products. If the deficiencies of the Products are proved
according to the authentication report, the expenses and costs shall be ultimately borne by the Seller; and if the deficiencies of the Products are proved non-in-existence according to the authentication report, the expenses and costs shall be
ultimately borne by the Buyer. 

 The parties hereto expressly agree that the quality standard of the Products under this
Agreement shall follow Products Specification in Exhibit A to this Agreement from the Effective Date, which should be adjusted during the *** month after the first delivery of the Products by the Parties; in case that no consensus has been
reached between the Parties within *** from the negotiating date, the Parties shall strive for collecting the top three producers of solar grade polysilicon in the mainland of PRC within *** and adjust the Exhibit A according to the average
specification of these specifications from the top three producers. The Seller shall be included in the top three and its specification shall be taken as a reference should its production rank the top three; in case consensus between the Parties
regarding the adjustment of the specification in Exhibit A is not yet reached with the time abovementioned, the Parties shall be responsible to separately purchase *** of products as sample from the top three producers and deliver these
samples to official authentication institute for authentication report(s), the charge of which should be apportioned between the Parties. The Parties shall make effort to obtain the consequent average specification of the 
  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

  

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top three producers products as specified in the authentication report(s) in the shortest time and the consequent average specification shall be applied in
the adjustment of the Exhibit A. The adjusted specification shall be effectively applied from the *** day from the receipt of the authentication report(s) for the samples supplied by the top three producers. To avoid any doubt, the receipt
of the authentication report(s) by any Party shall be deemed the receipt of the authentication report(s) by Parties. 

  

	3.4.2.	From the *** month after the date of the first delivery, Seller shall provide the verification reports with each delivery. Buyer is entitled to verify these Products pursuant to
Clause 3.6.6. 

  

	3.5.	Payment 

  

	3.5.1.	Advance Payment. The Buyer agrees to pay RMB *** as Advance Payment, of which the interest shall not be calculated and the Seller shall own all the interest herein. Unless otherwise
stipulates in the context of this Agreement, the Advance Payment is unrefundable, and irrevocable. The term of paying the Advance Payment shall be the same as the term stipulated in Exhibit B. Unless otherwise specified in this Agreement, the
Buyer explicitly acknowledges and accepts that: after execution of this Agreement, the Seller shall not be responsible to return all or part of the Advance Payment to the Buyer in any case. The Advance Payment shall be deducted for Payment to
Products only in situations specified in this Agreement. The Parties herein explicitly agree that: the Buyer is entitled to deduct monthly *** of the Advance Payment as Payment to Products from *** up to the date that the total amount of the Advance
Payment is thoroughly deducted. If the Advance Payment is deducted as liquidated damages or compensation for any losses due to the Buyer’s breach of contract, the deduction of *** of the remaining Advance Payment as the monthly Payment of the
Products shall be commenced only after the deduction of the liquidated damages or compensation for any losses. The Seller shall return the residual amount of the Advance Payment to the Buyer within *** after its performance of this Agreement
finished or early cancellation or termination of this Agreement because of the breach by the Seller. 

  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

  

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 If the Buyer breaches the Agreement, the Seller shall have right to deduct relevant liquidated damages or
loss compensation from the Advance Payment, and request the Buyer to pay an amount equal to the deduction to replenish the Advance Payment, non-performance of which shall be deemed as a breach of this Agreement and the Buyer shall be responsible to
assume the liability pursuant to Clause 8.3 of this Agreement. 
  

	3.5.2.	Payment. The Buyer shall make the Payment to the Seller before the Seller delivers the Products in accordance with the Exhibit B, the Seller is entitled to refuse the delivery
of the Products if the Buyer does not pay adequately. The Seller is obligated to deliver the corresponding Products to the Buyer within *** from the date of its receipt of the Payment. The Seller shall make reasonable efforts to deliver the monthly
scheduled volumes in *** equally spread lots. 

  

	3.5.3.	After the Buyer makes the full Payment to the Seller each time, the Seller shall issue relevant invoice for the use of value-added-tax with the value of the paid amount at that time
to the Buyer within ***. The property rights of the Products shall be owned by the Seller before the Payment is fully settled. 

  

	3.6.	Delivery 

  

	3.6.1.	All deliveries shall be made in accordance with the delivery schedule specified in Exhibit B. 

  

	3.6.2.	All Products purchased and sold hereunder shall be delivered at Seller’s location or other locations ordered by the Seller (e.g. workshop, factory or storehouse). All risk of
Losses to such Products shall be transferred to Buyer upon the date of any delivery herein. 

  

	3.6.3.	Transportation and Insurance. The Buyer is liable for the transportation and insurance of the Products at its own cost. 

  

	3.6.4.	In the event of a delay in delivery due to Buyer’s request or due to Buyer’s failure to collect the Products at the delivery date, the Seller is entitled to place such
Products in escrow to notarial authorities or seal up the Products for storage at the Buyer’s cost. Once the Products are in escrow or sealed up, the risk of the Products shall transfer to the Buyer, and the Buyer shall bear the expense of
escrow or the sealed storage. If the Buyer delays for more than *** to collect the Products, it shall be considered as irrevocable acceptance of the Products, and the Seller has the right to dispose the Products at a reasonable price.

  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

  

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In the event that the Buyer fails to purchase Products from the Seller in accordance with the volume of this Agreement in a given month, the Seller is
entitled to resell the unpurchased Products to other buyers in the domestic or overseas market at its own discretion, and the Buyer shall be liable to pay the margin between the resale price and scheduled price in this Agreement and the expenses
resulting from the resale. Except as stipulated in Clause 3.3.1 herein, in the event that the Seller fails to meet the supply volume in accordance with the Agreement, the Buyer has the right to purchase the shortfall from other suppliers to
mitigate its loss. The Seller agrees to be liable to the additional cost suffered by the Buyer in its purchasing such Products from other sellers from the spot market due to Seller’s short supply. The Buyer agrees that the Seller shall not be
liable for any other damage under this Agreement provided that the Seller compensates the Buyer for the afore-said additional cost. 

  

	3.6.5.	In the event that the Seller is delayed to deliver the Products as stipulated in Clause 4.4 of this Agreement, the Buyer shall permit the Seller to reasonably extend the
delivery term for a period no less than *** and no more than ***, which should be noticed explicitly by the Buyer. The Seller shall not be responsible for any liability of breach of this Agreement during the extension period. If the Seller fails to
deliver the scheduled Products upon the expiration of the extension period, it shall be charged with the liability for delay delivery as specified in Clause 8.3. 

 The Seller shall have right to deliver partly upon the consent of the Buyer, 
  

	3.6.6.	Inspection. The Buyer shall process the inspection and issue a written notice of Products’ flaws to the Seller in *** after delivery if there are flaws discovered during the
inspection. Once exceed the time limit, the Products delivered shall be deemed to be up to standard, and the Buyer shall accept all the Products unconditionally. To avoid any doubt, the rules of inspection herein is only applicable to the inspection
of polysilicon and the Parties herein disagree to apply the inspection rules of silicon chips to the inspection of polysilicon. 

  

	3.6.7.	As additional remedy to Buyer, in the event that Seller delivers *** is a calendar quarter Products that fail to meet specification in Exhibit A, Seller will pay to Buyer
liquidated damages, which equals to a delivery free of charge of ***, 

  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

  

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which excludes any other liabilities borne by the Seller, including but not limited to the liquidated damage under this Agreement. The test results shall be
obtained from a recognized laboratory (according to Clause 3.4.1 hereof.). 

  

	3.6.8.	The Parties acknowledge and explicitly agree that: the Seller in only liable to provide the Products according to the Exhibit A of this Agreement, and the responsibilities for
the fitness of the Products for special purpose, and the processing, use, and application of the Products should be solely assumed by the Buyer. 

  

	3.7.	Warranty 

  

	3.7.1.	The Parties hereto agree and acknowledge that all risks arising out of the fluctuation of the product prices shall be borne by the Parties respectively, and Buyer is obligated to
purchase and Seller is obligated to provide the Products contracted during the Term of this Agreement. 

  

	3.7.2.	Quality warranty. The Seller makes its warranty for the quality of delivered Products to the extent permitted and required under Exhibit A. In the event that the delivered
Products do not meet the specification as specified in Exhibit A, the Seller shall be liable for exchange of Products up to the specification in Exhibit A within *** upon the request of the Buyer. If the Seller fails to exchange
within the aforesaid period, it shall be liable for liquidated damages in accordance with Clause 8.4. Except the warranty abovementioned, any implied or express warranty from the Seller for the qualification of Products or warranty for the
future proper sale of Products or fitness for a particular purpose are specifically excluded from this Agreement. 

  

	 	(a)	According to the related provisions of this Agreement, in the event that the Buyer suffers any claims or suits arising from any deficiencies of the Products, the remedial right of
the Buyer and the liabilities and obligations of the Seller are absolutely limited to: (i) making exchange for the disqualified Products or paying back the sum of money paid for them, or (ii) paying damages with a sum of money not
exceeding the purchase price of the involved Products resulting in the claims or suits. As a condition precedent to the exercitation of the remedial right of the Buyer, the Buyer should give a prior notice to the Seller pursuant to the relevant
provisions of this Agreement. 

  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

  

 - 11 - 

	 	(b)	Parties agree that the remedies stipulated in this Agreement are sufficient and exclusive. Save for these indemnification obligations of the Parties as stipulated in this Agreement,
one Party shall not be liable to any special damages, incidental damages, indirect damages or any other damages suffered by the other Party resulting from its disobeying by the obligations under this Agreement or other reasons excluded from this
Agreement, including suit of infringement, strict liability, liability for products and infringement of trademark. The Buyer agrees that except the circumstance that the Products may be transferred pursuant to Clause 2.8 of this Agreement, it
will not transfer, permit to use, confer or make other behavior to let a third party have the Products, otherwise it will bear all the liabilities by itself, such as liabilities in related with patent, and Loss suffered by the Seller on account of
its afore-said behavior. 

  

	4.	FORCE MAJEURE 

  

	4.1.	Events of Force Majeure 

 If a Party delays or fails in
performance of any obligation of this Agreement, completely due to causes beyond its reasonable control, and the Party who delays or fails in performance is in compliance with the requirement of Clause 8 of this Agreement and is of no fault or
negligence, the Party shall not be liable for such delays or failures in performance and shall not be deemed as breaching this Agreement. The aforesaid causes include, but are not limited to, force majeure, war, riot, explosion, fire, changes of
Laws, acts or nonfeasance of the government inducing the delays or failures in performance of this Agreement (generally referred to as “Force Majeure”). Provided the matters (the delays or failures in performance) of the carriers,
distributors, or suppliers of the Buyer, which results in the delays or failures in performance of the Buyer, are completely caused by aforesaid events of Force Majeure, it shall also be deemed as the delays or failures in performance induced by the
Force Majeure under this clause. The parties agree to continue performing their obligations as soon as the events of Force Majeure disappear, and to deduct the non-performance period caused by Force Majeure and postpone the Agreement accordingly.

  

 - 12 - 

	4.2.	Notice and Response 

 The Party experiencing the Force
Majeure shall promptly give written notification to the other Party. Such notification shall include a full and complete explanation of the Force Majeure and its cause, the status of the Force Majeure, and the actions such Party is taking and
proposes to take to overcome the Force Majeure. The Party experiencing the Force Majeure shall exercise due diligence in endeavoring to overcome any delay caused by Force Majeure and shall undertake reasonable measures to make up the time delayed by
the Force Majeure without additional compensation from the other party. In the event that Seller is unable to resume production within *** after the date of such force majeure event, Buyer shall have the right to terminate this Agreement
without bearing any liability for breaching this Agreement and Seller shall not return the balance of the Advance Payment only if the Buyer is not in liabilities or bears any risk. 
  

	4.3.	Effect of Force Majeure 

 Except as otherwise provided in
this Agreement, if any Party delays or fails in performance of any obligation of this Agreement due to occurrence of Force Majeure, its term of performing this Agreement shall be prolonged to include the reasonable time which is needed to overcome
the events of Force Majeure. 
  

	4.4.	Exemptions 

 The Seller shall choose to delay delivery
without bearing default liabilities in the following circumstance: 
  

	4.4.1.	The Seller schedules maintenance *** times per year. The schedule for each maintenance will be announced at least *** in advance. Smaller delivery delays may occur at the time of
these maintenance. Parties will discuss and agree in good faith the resulting schedule changes. 

  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

  

 - 13 - 

	5.	INTELLECTUAL PROPERTY 

 Any and all drawings, data,
designs, tooling, equipment, procedures, engineering changes, inventions, trade secrets, copyrights, mask works, source code, object code, patents, patent applications, know-how, computer and/or product software and all parts thereof, trademarks and
all other information, technical or otherwise which was developed, made or supplied by or for Seller in the development, production or manufacture of the Products, will be and remain the sole property of Seller (or its licensors, if any), and in any
way nothing in this Agreement shall be construed as granting intellectual property regarding the Products (to Buyer). Buyer agrees not to reverse engineer any Product purchased hereunder. 
  

	6.	CONFIDENTIALITY 

  

	6.1.	The Parties acknowledge and agree that the terms of this Agreement and certain information exchanged between them pertaining to this Agreement, including information regarding
research, technology, product developments, marketing plans or conditions, products information, business strategies, and the like, constitutes “Confidential Information” of the Party disclosing the information. The purpose of the exchange
of the Confidential Information is to allow the Parties to perform their obligations and responsibilities under this Agreement. During the term of this Agreement, and for a period of *** years following its termination or expiration, except as
required by applicable laws, regulation or rules of any securities exchange, the Party received any Confidential Information, and its employees, agents, attorneys, financial advisors, officers, directors and shareholders who shall receive such
Confidential Information (hereinafter referred as to “Receiving Parties”) shall not, except with the prior written consent of the disclosing Party, use, divulge, disclose or communicate, to any person, firm, corporation or entity, in any
manner whatsoever, the terms of this Agreement or any Confidential Information of the disclosing Party; provided, however, that each Party may use, divulge, disclose or communicate the terms of this Agreement or Confidential Information of the
disclosing Party to its affiliates if such affiliates undertake to keep such information strictly confidential in accordance with stipulations of this Agreement and each affiliate has a “need to know”. Each Party further agrees to use the
same degree of care to avoid publication or dissemination of the Confidential Information disclosed to the 

  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

  

 - 14 - 

	 	 
other Party under this Agreement as it employs with respect to its own Confidential Information, but at all times one party shall use at least reasonable
care to protect against disclosure of Confidential Information of the opposite Party. Confidential Information does not and shall not include information that: 

  

	 	(a)	was already known to the Receiving Parties at the time such information is disclosed by the other Party; 

  

	 	(b)	was or became publicly known without Receiving Parties’ faults; 

  

	 	(c)	was rightfully received from a third party without restriction; 

  

	 	(d)	was independently developed by the Receiving Parties; 

  

	 	(e)	was approved for release by written authorization of the Party disclosing such information under this Agreement; or 

  

	 	(f)	was required by legal or financial reporting purposes to be disclosed; provided, however, that the Party being required to disclose shall, if circumstances permit, provide advance
notice to the other Party and shall allow the other Party a reasonable opportunity to oppose such disclosure, if appropriate. 

  

	6.2.	The Parties shall treat such Confidential Information as confidential, each Party shall not recopy or use such Confidential Information unless in necessity of fulfilling its
obligations under this Agreement. One Party shall return all Confidential Information to the other Party upon completion of such obligations for its use, or upon the request of the other Party. 

  

	6.3.	The Parties acknowledge and agree that the illegal use or disclosure of the Confidential Information may cause irreparable injury to Disclosing Party for which its loss may not be
adequately remedied by Laws, and that any actual or contemplated breach of this clause will entitle Disclosing Party to obtain immediate injunctive relief prohibiting such breach, in addition to any other rights and remedies available to it.

  

	6.4.	 The Parties (including the Affiliates procuring Confidential Information under this Agreement) agree that, each Party shall comply with the obligations and
liabilities concerning Confidential Information under this Agreement, one Party shall not, without obtaining the prior consent from the other Party, issue or release any announcement, report, declaration, or message 

  

 - 15 - 

	 	 
about this Agreement or any transaction or clause of this Agreement. However, any Party or its Affiliates may disclose the contents of this Agreement
according to and within the extent of the compulsory requirements of its local Laws and applicable Laws, Both Parties understand that listing rules from the respective stock exchanges allow significant time for alignment with the other Party on how
to disclose such required information in related with this Agreement that may contain Confidential Information of the other Party, and that this alignment shall be sought. After achieving a mutual consent on the details of the news report, the
Parties shall report the subscription and contents of this Agreement through press. 

  

	7.	OWNERSHIP AND USE OF DRAWINGS, DOCUMENTS AND OTHER ITEMS 

 All drawings, blueprints, dies, patterns, tools, printing plates and any other items or documents prepared or constructed by the Seller to develop, produce or manufacture the Products hereunder shall be the sole property of the Seller, and
promptly upon the expiration, termination or cancellation of this Agreement, shall be delivered to the Seller. The Buyer shall use all drawings, blueprints, dies, patterns, tools, printing plates and any other items or documents prepared or
constructed by Seller solely for the purposes of this Agreement and shall not use any of such items for the benefit of any third party. 
  

	8.	TERMINATION 

  

	8.1.	Buyer understands and acknowledges that Seller is, on the basis of trust to the Buyer and estimation to the Buyer’s demand, making substantial capital investments to expand its
manufacturing capabilities in order to satisfy Buyer’s demand for the Products. The Parties acknowledge it is their sincere intent that the risks on the fluctuation of the product prices shall be borne by the Parties respectively, and Buyer is
obligated to purchase and Seller is obligated to provide the contracted volumes over the Term of this Agreement. Accordingly, the basis and circumstances under which the parties can terminate this Agreement prior to the expiration of the Term of
this Agreement is expressly limited to the terms of this Clause 8. 

  

	8.2.	 Seller understands and acknowledges that Seller is, on the basis of trust to the Buyer and estimation to the Buyer’s demand, making substantial capital
investments to expand its manufacturing capabilities. The parties acknowledge it is their sincere 

  

 - 16 - 

	 	 
intent that the risks on the fluctuation of the product prices shall be borne by the Parties respectively, and Buyer is obligated to purchase and Seller is
obligated to provide the contracted volumes over the Term of this Agreement. Accordingly, the basis and circumstances under which the parties can terminate this Agreement prior to the expiration of the Term of this Agreement is expressly limited to
the terms of this Clause 8. 

  

	8.3.	Damages for the delayed payment of the Buyer 

 If the Buyer
delays to make the Advance Payment of Products, the Buyer shall be liable to pay *** as liquidated damages per delayed day, and if the delayed period expires ***, the Seller shall be entitled to terminate this Agreement anytime thereafter. In
case the Seller terminates this Agreement, the Buyer shall bear liquidated damages of *** in addition to the accumulated amount of the aforesaid liquidated damages for Advance Payment. The Seller shall also have the right not to terminate this
Agreement and the liquidated damages should be accumulatively calculated. The accumulated amount of aforesaid liquidated damages for Advance Payment shall be calculated from the day after the scheduled payment date up to the date of actual payment.
If Buyer delays to make any Payment, Seller shall issue a notice within *** after the scheduled payment date to ask Buyer to rectify default, and Buyer shall rectify default in time. In case Buyer fails to rectify the default
within *** after date of Seller’s notice informing late Payment, the Buyer shall be liable for *** as liquidated damages per delayed day as of the *** delayed day, if the Buyer delays to pay the Payment for *** or more days,
the Seller may terminate this Agreement anytime thereafter. In case Seller terminates this Agreement, Seller shall claim Buyer for, in addition to the accumulated amount of the aforesaid liquidated damages, an amount of liquidated damages equal to
residual Payment for the un-purchased volume of Products within the committed volume during the Term of this Agreement as stipulated in Exhibit B; or Seller shall make such requests to the Buyer: (a) to pay the accumulated amount of the
aforesaid liquidated damages; and (b) the residual Advance Payment paid by the Buyer shall be forfeited by the Seller; and (c) to pay an amount of liquidated damages equal to ***. The Seller shall also have the right to not terminate this
Agreement and the liquidated damages stipulated in section (a) of this clause should be accumulatively calculated. 
  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

  

 - 17 - 

	8.4.	Damages for Seller’s default 

 Except as otherwise
stipulated in Clause 3.3 or the failure of the Buyer to delivery the Product in the volume as stipulated in Appendix A on time, if the Seller’s delivery delays or falls short of contracted volume of the Products in conformity with the
specification under this Agreement, the Buyer may, within ***, issue notice to ask Seller to rectify default, the Seller shall rectify default in time, if the Seller fails to do so within ***, the Seller shall be liable for *** as
liquidated damages per delayed day as of the *** delayed day, if the Seller fails to deliver for *** or more days, Buyer shall be entitled to terminate this Agreement anytime thereafter. In case the Buyer terminates this Agreement, the
Buyer shall make such requests to the Seller: (a) to pay the aforesaid liquidated damages accumulatively, and (b) Seller shall return the residual Advance Payment paid by the Buyer to the Buyer, and pay *** to the Buyer as liquidated
damages, and (c) (i) in the period of 2008-2010 to pay *** as liquidated damages; and (ii) in the period of 2011-2015, pay *** as liquidated damages. The Buyer shall also have the right to not terminate this Agreement and
the liquidated damages stipulated in section (a) of this clause should be accumulatively calculated. 
  

	8.5.	The Parties hereto agree and acknowledge that all Losses arising out of the said breaches have been anticipated at the conclusion of this Agreement, and agree that the calculation
methods for Losses therefrom shall be the same with those of liquidated damages. The Parties hereto agree to waive the rights set forth in Article 114 of Contract Law of the People’s Republic of China to petition to court of the payment or
non-payment of balances between the higher liquidated damages and the lower Losses or vice versa. 

  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

  

 - 18 - 

	9.	NOTICE 

 All certificates or notices required
hereunder shall be given in writing and addressed or delivered to the representative specified herein below. Notices shall be deemed received (a) upon delivery, when personally delivered; (b) upon receipt, when sent via registered or
certified mail; and (c) the next business day, when sent via overnight courier. Copies of all general correspondence regarding this Agreement shall also be sent to following representatives: 
 Notices to Seller: 
 Jiangsu Zhongneng
Polysilicon Technology Development Co., Ltd. 
 No.66, Yangshan Road, Xuzhou 
 Economic Development Zone, Jiangsu, 
 PRC

 Mr. Zhu Guomin 
 General
Manager 
 Notices to Buyer: 
 Jiangsu Linyang Solarfun Co., Ltd. 
 Linyang Road, Qidong City, Jiangsu, 
 PRC 
 Mr. Fan Xiaochuan 
 Manager in charge of raw material purchase 
 Buyer or Seller may change the representative designated to receive notice hereunder by written notice to the other Party. All correspondence and transmittals between the Parties shall be executed pursuant to coordination procedures that
shall be developed by the Parties. 
  

 - 19 - 

	10.	LANGUAGE 

 The Parties hereby confirm that this
Agreement shall be prepared in Chinese and English. Both languages are consistent and binding. In case disputes arise, the Chinese version should prevail. 
  

	11.	CHOICE OF LAWS 

 This Agreement shall be governed by
and construed in accordance with the Laws of PRC, excluding the non-PRC laws and rules regarding collision of choice of law. 
  

	12.	ARBITRATION 

 Except as otherwise provided in this
Agreement, any dispute, controversy or claim arising out of or in connection with this Agreement, or the breach, termination or validity thereof, shall be finally settled by the China International Economic and Trade Arbitration Commission, Shanghai
Commission (“CIETAC”) under the then effective PRC arbitration rules of CIETAC. The place of arbitration shall be Shanghai, and the language used in the arbitral proceedings shall be Chinese mandarin. 
 The arbitration panel shall consist of three arbitrators. The arbitral award made and granted by the arbitration panel shall be final, binding and
incontestable and may be used as sole basis for enforcement in a court having competent jurisdiction. All costs of arbitration (including, without limitation, those incurred in the appointment of arbitrator according to the principle that loser pays
and attorney fees) shall be apportioned in the arbitral award, 
  

	13.	NON-WAIVER 

 The failure of either Party to demand
strict performance of the terms hereof or to exercise any right conferred hereby shall not be construed as a waiver or relinquishment of its rights to assert or rely on any such term or right in the future. 
  

	14.	SEVERABILITY 

 In the event that any provision of
this Agreement is deemed as a matter of Laws to be unenforceable or null and void, such unenforceable or void portion of such provision shall be deemed severable from the Agreement and the remainder of the Agreement shall continue in full force and
effect. 
  

 - 20 - 

	15.	ASSIGNMENT 

 Neither Seller nor Buyer shall assign,
subcontract or otherwise delegate any of their rights or obligations hereunder without the other Party’s prior written consent. Any such assignment without the other Party’s consent shall be void. 
  

	16.	SURVIVAL 

 All warranties, remedial obligations,
indemnities, and confidentiality rights and obligations provided herein shall survive the cancellation, expiration or termination hereof. 
  

	17.	AMENDMENTS 

 No amendment, modification or waiver of
any term hereof shall be effective unless set forth in a writing signed by both Buyer and Seller. 
  

	18.	ENTIRE AGREEMENT 

 This Agreement, which includes
this cover contract and the Exhibits hereto, constitutes the entire agreement of the Parties with respect to the subject matter herein and supersedes any prior or contemporaneous agreement or understanding between the Parties. 
 There are currently no other agreements in place between the Parties concerning this subject matter. 
  

	19.	EFFECTIVENESS 

 This Agreement will become effective
as of the date the Parties execute it. 
  

 - 21 - 

 Signature Page 
  

	
	Seller: Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd.
	
	 /sign/

	seal
	
	Authorized representative
	
	Date:
	
	Buyer: Jiangsu Linyang Solarfun Co., Ltd.
	
	 /sign/

	seal
	
	Authorized representative
	
	Date:

  

 - 22 - 

 Exhibit A 
 Suggest to replace/amend as in point 3.4.1 
 Specifications of Solar Grade Polysilicon 
  

	 	1.	Boron: *** 

  

	 	2.	Donor: *** 

  

	 	3.	Carbon: *** 

  

	 	4.	Total Metals (Fe, Cu, Ni, & Cr etc.): *** 

  

	 	5.	Lifetime (N type): *** 

 Exhibit B 
  

																											
	Solarfun (Linyang)
	
	 2008-2009 Quarterly delivery schedule and price

					
	 Year
	  	Unit	  	Year 2008 	  	Year 2009	  	 
	Quarter	  	 	  	Q1	  	Q2	  	Q3	  	Q4	  	Total	  	Q1	  	Q2	  	Q3	  	Q4	  	Total	  	 
	 Quarterly quantity
	  	Ton	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	
	 Unit price (VAT incl.)
	  	RMB/KG	  	***	  	***	  	***	  	***	  		  	***	  	***	  	***	  	***	  		  	
	 Total amount (VAT incl.)
	  	RMB	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	
													
	 	  	Jan	  	Feb	  	Mar	  	Apr	  	May	  	Jun	  	Jul	  	Aug	  	Sep	  	Oct	  	Nov	  	Dec
	 Monthly delivery 2008-09
	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***
		  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***
	
	 8 year delivery schedule and price

													
	 Year
	  	 	  	Year
2008 	  	Year
2009 	  	Year
2010	  	Year
2011	  	Year
2012	  	Year
2013	  	Year
2014	  	Year
2015	  	Total	  	 	  	 
	 Quantity
	  	Ton	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	9,990	  		  	
	 Unit price (VAT incl.)
	  	RMB/ KG	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  		  		  	
	 Total amount (VAT incl.)
	  	RMB	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	8,936,164,000	  		  	
	 Prepayment
	  	RMB	  		  		  		  		  		  		  		  		  	***	  		  	
													
	 	  	payment
date	  	7th
Jul 2008	  	7th
Oct 2008	  	7th
Jan 2009	  	7th
Apr 2009	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 Prepayment schedule
	  	RMB	  	***	  	***	  	***	  	***	  		  		  		  		  	***	  		  	

  
  

	***	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 

 Note: 
  

	1.	*** adjustment on the quarterly quantity will be acceptable; 

  

	2.	The full amount for the product to be delivered in next month will be prepaid by the buyer on ***; 

  

	3.	The annual volume from 2010-2015 will be delivered equally through out each month. 

  

	4.	The after tax price has included a tax of 17%, if the tax rate has been adjusted by the government, the tax shall be calculated based the rate determined by the government.

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