Document:

109

                                  EXHIBIT 10.6
                                  ------------

           This is an Exhibit to the Form 20-F of Sinovac Biotech Ltd.
           -----------------------------------------------------------

                     Attached find the following materials:

           Share Purchase Agreement entered into between the Company,
           ----------------------------------------------------------
                 Tangshan Yian Biological Engineering Co., Ltd.
                 ----------------------------------------------
                   and Mr. Heping Wang, dated January 26, 2004
                   -------------------------------------------

                               End of Exhibit 10.6

                                   -----------

<PAGE>

                                       110

                            SHARE PURCAHSE AGREEMENT
                            ------------------------

          THIS  SHARE  PURCAHSE  AGREEMENT  is  dated  and  made  for  reference
          -------------------------------
effective as fully executed on this 26th day of January, 2004.

BETWEEN:
-------

               SINOVAC  BIOTECH LTD., a corporation  organized under the laws of
               ---------------------
               Country of Antigua and having an address for notice and  delivery
               located at Suite #10-Epicurean, Woods Centre, P.O. Box W-645, St.
               John's, Antigua, West Indies

               (the "Purchaser");
                                                               OF THE FIRST PART
                                                               -----------------

AND:
---

               TANGSHAN YIAN  BIOLOGICAL  ENGINEERING,  CO., LTD., a corporation
               --------------------------------------------------
               organized  under the laws of the  People's  Republic of China and
               having an address  for notice and  delivery  located at 120 Huoju
               Rd., High Tech. Developing Zone Tangshan,  Hbei Provence,  063000
               P.R. China

               (the "Company");
                                                              OF THE SECOND PART
                                                              ------------------

AND:
---

               THE   UNDERSIGNED   SHAREHOLDER   OF  TANGSHAN  YIAN   BIOLOGICAL
               -----------------------------------------------------------------
               ENGINEERING CO., LTD.,  having an address for notice and delivery
               ---------------------
               located  at  c/o  120  Huoju  Rd.,  High  Tech.  Developing  Zone
               Tangshan, Hbei Provence, 063000 P.R. China

               (such shareholder being hereinafter referred to as the "Vendor");

                                                               OF THE THIRD PART
                                                               -----------------

               (the  Vendor,  the Company and the  Purchaser  being  hereinafter
               singularly  also  referred  to  as  a  "Party"  and  collectively
               referred to as the "Parties" as the context so requires).

<PAGE>

                                       111

          WHEREAS:
          -------

A.   The Company is a body corporate subsisting under and registered pursuant to
the laws of the People's Republic of China;

B.   The Company is in the business of research and development  specializing in
the development and manufacturing of various vaccines including flu vaccines and
vaccines for Hepatitis A (collectively, the "Company's Business");

C.   The  Vendor is the  legal and  beneficial  owner of all of the  issued  and
outstanding shares in the capital of the Company (each a "Purchased Share"); the
particulars of the registered and beneficial  ownership of such Purchased Shares
being set forth in  Schedule  "A" which is  attached  hereto  and which  forms a
material part hereof; and

D.   The Parties hereto have agreed to enter into this Share Purchase  Agreement
(the "Agreement") which formalizes,  amends and replaces,  in its entirety,  the
Letter  of  Intent,   dated  October  30,  2003  (the  "Letter  of  Intent")  as
contemplated  and  required  by the terms of such  Letter of  Intent,  and which
clarifies  their  respective  duties  and  obligations  in  connection  with the
purchase  by the  Purchaser  from  the  Vendor  of all of the  Purchased  Shares
together with the further development of the Company's Business as a consequence
thereof;

          NOW THEREFORE THIS AGREEMENT  WITNESSETH that in  consideration of the
          ----------------------------------------
mutual promises,  covenants and agreements herein contained,  THE PARTIES HERETO
                                                              ------------------
COVENANT AND AGREE WITH EACH OTHER as follows:
----------------------------------

                                    Article 1
                                    ---------
                                   DEFINITIONS
                                   -----------

1.1  Definitions.  For the  purposes  of this  Agreement,  except  as  otherwise
     -----------
expressly provided or unless the context otherwise requires, the following words
and phrases shall have the following meanings:

     (a)  "Agreement"  means this "Share  Purchase  Agreement"  as entered  into
          among the Vendor, the Company and the Purchaser herein,  together with
          any amendments thereto and any Schedules as attached thereto;

     (b)  "Board of Directors"  means,  as applicable,  the respective  Board of
          Directors of each of the Parties hereto as duly  constituted from time
          to time;

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                                       112

     (c)  "business day" means any day during which Canadian Chartered Banks are
          open  for  business  in the City of  Vancouver,  Province  of  British
          Columbia;

     (d)  "Business  Documentation"  means any and all records and other factual
          data and information  relating to the Company's Business interests and
          assets and including,  without limitation,  all plans,  agreements and
          records  which  are in the  possession  or  control  of  Vendor or the
          Company in that respect;

     (e)  "Closing" has the meaning ascribed to it in Article "6.1" hereinbelow;

     (f)  "Closing  Date"  has  the  meaning  ascribed  to it in  Article  "6.1"
          hereinbelow;

     (g)  "Commercial Arbitration Act" means the Arbitration Act of the Province
          of British Columbia,  R.S.B.C.  1996, as amended from time to time, as
          set forth in Article "11" hereinbelow;

     (h)  "Commissions"   means  the  United  States   Securities  and  Exchange
          Commission;

     (i)  "Common  Shares"  means the  3,500,000  shares of common  stock of the
          Purchaser  to be issued  and  delivered  to the  Vendor as part of the
          Purchase Price of the Purchased Shares;

     (j)  "Company"  means  Tangshan Yian  Biological  Engineering  Co., Ltd., a
          corporation  organized  under  the laws of the  People's  Republic  of
          China, or any successor company,  however formed,  whether as a result
          of merger, amalgamation or other action;

     (k)  "Company's Assets" means all assets, contracts,  equipment,  goodwill,
          inventory and Intellectual Property of the Company;

     (l)  "Company's  Business"  has the meaning  ascribed to it in recital "B."
          hereinabove;

     (m)  "Company's  Financial  Statements"  has the meaning  ascribed to it in
          Article "3.3(s)" hereinbelow;

     (n)  "Defaulting  Party"  and  "Non-Defaulting  Party"  have  the  meanings
          ascribed to them in Article "12" hereinbelow;

     (o)  "Encumbrances" means mortgages,  liens,  charges,  security interests,
          encumbrances and third party claims of any nature;

     (p)  "Exchange" means the NASD Over-the-Counter Bulletin Board;

     (q)  "Execution  Date" means the actual date of the  complete  execution of
          this Agreement and any amendment  thereto by all Parties hereto as set
          forth on the front page hereof;

<PAGE>

                                       113

     (r)  "Indemnified  Party"  and  "Indemnified  Parties"  have  the  meanings
          ascribed to them in Article "7.1" hereinbelow;

     (s)  "Intellectual  Property" means, with respect to the Company, all right
          and interest to all patents,  patents pending,  inventions,  know-how,
          any  operating  or  identifying  name or  registered  or  unregistered
          trademarks and tradenames,  all computer  programs,  licensed end-user
          software,   source  codes,  products  and  applications  (and  related
          documentation and materials) and other works of authorship  (including
          notes, reports, other documents and materials,  magnetic,  electronic,
          sound or video  recordings  and any other work in which  copyright  or
          similar  right  may  subsist)  and  all   copyrights   (registered  or
          unregistered)    therein,    industrial    designs    (registered   or
          unregistered),    franchises,   licenses,   authorities,   restrictive
          covenants or other  industrial  or  intellectual  property  used in or
          pertaining to the Company;

     (t)  "Parties"  or "Party"  means,  respectively,  the Vendor,  the Company
          and/or the Purchaser  hereto,  as the case may be, together with their
          respective   successors  and  permitted  assigns  as  the  context  so
          requires;

     (u)  "person" or "persons" means an individual,  corporation,  partnership,
          party,  trust,  fund,  association  and any other  organized  group of
          persons and the personal or other legal  representative of a person to
          whom the context can apply according to law;

     (v)  "Purchased  Shares"  has the meaning  ascribed  to it in recital  "C."
          hereinabove;   the   particulars  of  the  registered  and  beneficial
          ownership of such Purchased Securities being set forth in Schedule "A"
          which is attached hereto;

     (w)  "Purchase  Price" has the  meaning  ascribed  to it in  Article  "2.2"
          hereinbelow;

     (x)  "Purchaser" means Sinovac Biotech Ltd., a corporation  organized under
          the laws of the Country of Antigua, or any successor company,  however
          formed, whether as a result of merger, amalgamation or other action;

     (y)  "Purchaser's  Initial Due Diligence" has the meaning ascribed to it in
          Article "5.1(b)" hereinbelow;

     (z)  "Purchaser's  Ratification"  has the meaning ascribed to it in Article
          "5.1(a)" hereinbelow;

     (aa) "Takeover" means that  transaction or series of transactions  pursuant
          to which the Purchaser will acquire all of the Purchased Shares of the
          Company from the Vendor in exchange for the issuance  from treasury by
          the  Purchaser of the Common Shares and  US$2,200,000  payable with 12
          months of entering into this Share Purchase  Agreement and all matters
          necessarily ancillary thereto;

<PAGE>

                                       114

     (ab) "Time of Closing"  means 2:00 o'clock,  p.m.  (Vancouver  Time) on the
          Closing Date;

     (ac) "Transfer Agent" means Pacific Stock Transfer Company; and

     (ad) "Vendor"  means the sole  shareholder  of the Company who has executed
          this Agreement as a Party hereto.

1.2  Schedules.  For  the  purposes  of  this  Agreement,  except  as  otherwise
     ---------
expressly provided or unless the context otherwise requires, the following shall
represent  the Schedules  which are attached to this  Agreement and which form a
material part hereof:

                   Schedule                            Description
                   --------                            -----------
               Schedule "A":               Purchased Shares and Vendor; and
               Schedule "B"                Promissory Note issued by the
                                           Purchaser.

1.3  Interpretation.  For the  purposes of this  Agreement,  except as otherwise
     --------------
expressly provided or unless the context otherwise requires,:

     (a)  the words  "herein",  "hereof"  and  "hereunder"  and  other  words of
          similar  import  refer  to this  Agreement  as a whole  and not to any
          particular Article, section or other subdivision of this Agreement;

     (b)  any  reference to an entity shall  include and shall be deemed to be a
          reference to any entity that is a permitted  successor to such entity;
          and

     (c)  words in the  singular  include the plural and words in the  masculine
          gender include the feminine and neuter genders, and vice versa.

                                    Article 2
                                    ---------
              PURCHASE AND SALE OF THE ALL OF THE PURCHASED SHARES
              ----------------------------------------------------

2.1  Purchase  and Sale.  Subject to the terms and  conditions  hereof and based
     ------------------
upon the  representations  and  warranties  contained  in  Articles  "3" and "4"
hereinbelow  and prior  satisfaction  of the conditions  precedent which are set
forth in Article "5" hereinbelow,  the Vendor hereby agrees to assign,  sell and
transfer at the Closing Date (as  hereinafter  determined) all of his respective
rights, entitlement and interest in and to the Purchased Shares to the Purchaser
and the Purchaser hereby agrees to purchase all of the Purchased Shares from the
Vendor on the terms and subject to the conditions contained in this Agreement.

<PAGE>

                                       115

2.2  Purchase Price. The total purchase price (the "Purchase  Price") for all of
     --------------
the  Purchased  Shares will be  satisfied by way of the issuance and delivery by
the Purchaser to the Vendor, in accordance with section "2.3" hereinbelow, of an
aggregate of 3,500,000  common  shares in the capital of the  Purchaser  (each a
"Common  Share"),  at a deemed  issuance price of US$0.76 per Common Share and a
promissory  note  issued  by the  Purchaser  to the  Vendor  in  the  amount  of
US$2,200,000,  which  amount  shall be due and  payable  within 12 months of the
effective date of this Agreement, and which is attached hereto as Schedule "C".

2.3  Resale  Restrictions.  The Vendor hereby  acknowledges  and agrees that the
     --------------------
Purchaser  makes  no  representations  as to any  resale  or  other  restriction
affecting  the Common  Shares  and that it is  presently  contemplated  that the
Common Shares will be issued by the Purchaser to the Vendor in reliance upon the
registration and prospectus exemptions contained in the United States Securities
Act of 1933, as amended (the  "Securities  Act") or  "Regulation  S" promulgated
under the Securities  Act which will impose a trading  restriction in the United
States on the Common  Shares for a period of at least 12 months from the Closing
Date (as hereinafter  determined).  In addition, the obligation of the Purchaser
to issue the Common Shares pursuant to section "2.2" hereinabove will be subject
to the Purchaser being satisfied that an exemption from applicable  registration
and  prospectus  requirements  is  available  under the  Securities  Act and all
applicable  securities laws, in respect of the Vendor and related Common Shares,
and the Purchaser shall be relieved of any obligation whatsoever to purchase any
Purchased  Shares of the  Vendor  and to issue  Common  Shares in respect of the
Vendor where the Purchaser  reasonably  determines that a suitable  exemption is
not available to it.

                                    Article 3
                                    ---------
                    REPRESENTATIONS, WARRANTIES AND COVENANTS
                    -----------------------------------------
                          BY THE COMPANY AND THE VENDOR
                          -----------------------------

3.1  General  Representations,  Warranties  and  Covenants  by the  Company  and
     ---------------------------------------------------------------------------
Xianping  Wang.  In order to induce the  Purchaser to enter into and  consummate
--------------
this Agreement, the Company and Xianping Wang, jointly and severally, represents
to,  warrants  to and  covenants  with the  Purchaser,  with the intent that the
Purchaser  will rely thereon in entering  into this  Agreement and in concluding
the  transactions  contemplated  herein,  that,  to the  best of the  knowledge,
information  and belief of each of Xianping  Wang and the Company,  after having
made due inquiry:

     (a)  if a  corporation,  it  is  duly  organized  under  the  laws  of  its
          respective  jurisdiction of incorporation  and is validly existing and
          in good standing with respect to all statutory filings required by the
          applicable corporate laws;

     (b)  it is  qualified  to do  business in those  jurisdictions  where it is
          necessary to fulfill its  obligations  under this Agreement and it has
          the full  power and  authority  to enter into this  Agreement  and any
          agreement or instrument referred to or contemplated by this Agreement;

     (c)  it has the requisite power,  authority and capacity to own and use all
          of its  respective  business  assets  and to carry  on its  respective

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                                       116

          business as presently  conducted  by it and to fulfill its  respective
          obligations under this Agreement;

     (d)  the  execution  and  delivery  of this  Agreement  and the  agreements
          contemplated hereby have been duly authorized by all necessary action,
          corporate or otherwise, on its respective part;

     (e)  there are no other consents,  approvals or conditions precedent to the
          performance of this Agreement which have not been obtained;

     (f)  this Agreement constitutes a legal, valid and binding obligation of it
          enforceable  against  it in  accordance  with  its  terms,  except  as
          enforcement  may be limited by laws of general  application  affecting
          the rights of creditors;

     (g)  no  proceedings  are pending  for, and it is unaware of, any basis for
          the  institution  of  any   proceedings   leading  to  its  respective
          dissolution  or  winding  up, or the  placing of it in  bankruptcy  or
          subject to any other laws governing the affairs of insolvent companies
          or persons;

     (h)  the making of this  Agreement and the  completion of the  transactions
          contemplated  hereby and the  performance of and  compliance  with the
          terms hereof does not and will not:

          (i)  if a  corporation,  conflict  with or  result  in a breach  of or
               violate  any  of  the  terms,  conditions  or  provisions  of its
               respective constating documents;

          (ii) conflict  with or  result in a breach  of or  violate  any of the
               terms,  conditions  or provisions  of any law,  judgment,  order,
               injunction,   decree,  regulation  or  ruling  of  any  Court  or
               governmental  authority,  domestic  or  foreign,  to  which it is
               subject,   or  constitute  or  result  in  a  default  under  any
               agreement, contract or commitment to which it is a party;

          (iii)give to any  party  the  right of  termination,  cancellation  or
               acceleration  in or with  respect to any  agreement,  contract or
               commitment to which it is a party;

          (iv) give  to  any  government  or  governmental   authority,  or  any
               municipality   or  any   subdivision   thereof,   including   any
               governmental   department,    commission,    bureau,   board   or
               administration agency, any right of termination,  cancellation or
               suspension  of, or  constitute a breach of or result in a default
               under,  any permit,  license,  control or authority  issued to it
               which is necessary or  desirable in  connection  with the conduct
               and  operations of its  respective  business and the ownership or
               leasing of its respective business assets; or

          (v)  constitute a default by it, or any event  which,  with the giving
               of notice or lapse of time or both,  might constitute an event of

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                                       117

               default,  under  any  agreement,  contract,  indenture  or  other
               instrument  relating to any  indebtedness  of it which would give
               any  party  to  that  agreement,  contract,  indenture  or  other
               instrument  the right to accelerate  the maturity for the payment
               of any amount payable under that agreement,  contract,  indenture
               or other instrument; and

     (i)  neither  this  Agreement  nor  any  other  document,   certificate  or
          statement  furnished  to the  Purchaser  by or on behalf of any of the
          Vendor or the Company in connection with the transactions contemplated
          hereby  knowingly or  negligently  contains  any untrue or  incomplete
          statement of material fact or omits to state a material fact necessary
          in order to make the  statements  therein not  misleading  which would
          likely  affect  the  decision  of the  Purchaser  to enter  into  this
          Agreement.

3.2  Representations,  Warranties  and  Covenants by the Vendor  respecting  the
     ---------------------------------------------------------------------------
Purchased  Shares and the Common  Shares.  In order to induce the  Purchaser  to
----------------------------------------
enter into and  consummate  this  Agreement,  the Vendor hereby  represents  to,
warrants to and covenants with the Purchaser, with the intent that the Purchaser
will also rely thereon in entering into this  Agreement  and in  concluding  the
transactions   contemplated   herein,  that,  to  the  best  of  the  knowledge,
information and belief of the Vendor, after having made due inquiry:

     (a)  save and except as set forth in Schedule "A" which is attached hereto,
          the  Vendor  has good and  marketable  title to and is the  legal  and
          beneficial  owner of all of the  Purchased  Shares,  and the Purchased
          Shares  are fully  paid and  non-assessable  and are free and clear of
          liens,  charges,  encumbrances,  pledges,  mortgages,  hypothecations,
          security interests and adverse claims of any and all nature whatsoever
          and including,  without  limitation,  options,  pre-emptive rights and
          other  rights  of  acquisition  in  favour  of  any  person,   whether
          conditional or absolute;

     (b)  the  Vendor  has the  power and  capacity  to own and  dispose  of the
          Purchased  Shares,  and the  Purchased  Shares are not  subject to any
          voting or similar arrangement;

     (c)  there are no actions, suits, proceedings or investigations (whether or
          not  purportedly  against or on behalf of the Vendor or the  Company),
          pending or  threatened,  which may  affect,  without  limitation,  the
          rights of the Vendor to transfer  any of the  Purchased  Shares to the
          Purchaser  at law or in equity,  or before or by any  federal,  state,
          provincial,  municipal or other governmental  department,  commission,
          board, bureau,  agency or instrumentality,  domestic or foreign,  and,
          without limiting the generality of the foregoing,  there are no claims
          or potential claims under any relevant family relations legislation or
          other  equivalent  legislation  affecting  the  Purchased  Shares.  In
          addition,  the Vendor is not now aware of any existing ground on which
          any  such  action,  suit or  proceeding  might be  commenced  with any
          reasonable likelihood of success;

<PAGE>

                                       118

     (d)  no other person,  firm or  corporation  has any  agreement,  option or
          right  capable of becoming an agreement for the purchase of any of the
          Purchased Shares;

     (e)  the Vendor  acknowledges  that the Common  Shares will be issued under
          certain   exemptions  from  the  registration  and  prospectus  filing
          requirements  otherwise applicable under the Securities Act, and that,
          as a result,  the  Vendor  may be  restricted  from  using most of the
          remedies that would  otherwise be available to the Vendor,  the Vendor
          will not receive  information  that would  otherwise be required to be
          provided  to the Vendor and the  Purchaser  is relieved  from  certain
          obligations  that would  otherwise  apply to the Purchaser,  in either
          case, under applicable securities legislation;

     (f)  the Vendor has not received,  nor has the Vendor requested or does the
          Vendor  require  to  receive,  any  offering  memorandum  or a similar
          document describing the business and affairs of the Purchaser in order
          to  assist  the  Vendor  in  entering  into  this   Agreement  and  in
          consummating the transactions contemplated herein;

     (g)  the Vendor  acknowledges  and agrees  that the Common  Shares have not
          been and will not be qualified or registered under the securities laws
          of the  United  States or any other  jurisdiction  and,  as such,  the
          Vendor may be  restricted  from  selling or  transferring  such Common
          Shares under applicable law;

     (h)  the Vendor is  resident  in the  jurisdiction  as set forth  under the
          Vendor's  address in Schedule "A" which is attached  hereto,  and that
          all  negotiations  and other acts in  furtherance of the execution and
          delivery  of this  Agreement  by the  Vendor  in  connection  with the
          transactions  contemplated herein have taken place and will take place
          solely in such jurisdiction or in the "Country of Antigua; and

     (i)  the  Purchased   Shares  have  been  issued  in  accordance  with  all
          applicable securities and corporate legislation and policies.

3.3  Representations,  Warranties  and  Covenants  by the Company and the Vendor
     ---------------------------------------------------------------------------
respecting  the  Company.  In order to induce  the  Purchaser  to enter into and
------------------------
consummate  this Agreement,  each of the Vendor and the Company hereby,  jointly
and severally, also represents to, warrants to and covenants with the Purchaser,
with the intent that the Purchaser  will also rely thereon in entering into this
Agreement and in concluding the transactions  contemplated  herein, that, to the
best of the  knowledge,  information  and  belief of each of the  Vendor and the
Company, after having made due inquiry:

     Corporate Status of the Company
     -------------------------------

     (a)  the Company is a company  with  limited  liability  duly and  properly
          organized  and  validly  subsisting  under  the  laws of the  People's
          Republic of China being the only jurisdiction  where it is required to

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                                       119

          be registered  for the purpose of enabling it to carry on its business
          and own its property as presently carried on and owned;

     (b)  the Company has good and sufficient power,  authority and right to own
          or lease its property, to enter into this Agreement and to perform its
          obligations hereunder;

     Authorization
     -------------

     (c)  this Agreement has been duly authorized, executed and delivered by the
          Vendor and the Company and is a legal, valid and binding obligation of
          the Vendor and the Company,  enforceable against the Vendor and/or the
          Company,  as the case may be, by the Purchaser in accordance  with its
          terms, except as enforcement may be limited by bankruptcy,  insolvency
          and other laws affecting the rights of creditors  generally and except
          that  equitable  remedies may be granted only in the  discretion  of a
          court of competent jurisdiction;

     No Other Agreements to Purchase
     -------------------------------

     (d)  no person other than the Purchaser  has any written or oral  agreement
          or option or any right or privilege  (whether by law,  pre-emptive  or
          contractual)  capable  of  becoming  an  agreement,  or option for the
          purchase  or  acquisition  from  the  Vendor  of any of the  Purchased
          Shares;

     Options
     -------

     (e)  no person  has any  agreement  or  option  or any  right or  privilege
          (whether by law,  pre-emptive or  contractual)  capable of becoming an
          agreement,  including convertible securities,  warrants or convertible
          obligations of any nature, for the purchase,  subscription,  allotment
          or issuance of any unissued shares or other securities of the Company;

     Title to Shares
     ---------------

     (f)  the Purchased  Shares are  beneficially  owned by the Vendor with good
          and  marketable  title  thereto  free  of  all  Encumbrances  and  are
          registered  in the books of the Company in the name of the Vendor and,
          without limitation  thereto,  none of the Purchased Shares are subject
          to  any  voting  trust,   unanimous  shareholders   agreement,   other
          shareholders agreements, pooling agreements or voting agreements;

     (g)  upon  completion of the  transactions  contemplated by this Agreement,
          all of the  Purchased  Shares  will be owned by the  Purchaser  as the
          beneficial  owner of record,  with good and  marketable  title thereto
          (except  for  such  Encumbrances  as  may  have  been  granted  by the
          Purchaser);

<PAGE>

                                       120

     Title to Personal Property and Other Property
     ---------------------------------------------

     (h)  the  property  and assets of the  Company  are,  and  between the date
          hereof and the  Closing  Date (as  hereinafter  determined),  will be,
          owned  beneficially  by the Company with a good and  marketable  title
          thereto,  free  and  clear  of all  Encumbrances  save  as  previously
          disclosed to the Purchaser;

     Intellectual Property
     ---------------------

     (i)  the Company has  provided the  Purchaser  with a complete and accurate
          list  of all  trade  marks,  trade  names,  business  names,  patents,
          inventions,   know-how,   copyrights,   service  marks,  brand  names,
          industrial  designs and all other industrial or intellectual  property
          owned or used by the Company in carrying on the Company's Business and
          all  applications  therefor  and  all  goodwill  connected  therewith,
          including,   without   limitation,   all  licenses,   registered  user
          agreements  and all like  rights  used by or granted to the Company in
          connection  with the  Company's  Business and all right to register or
          otherwise   apply  for  the   protection   on  any  of  the  foregoing
          (collectively, the "Intellectual Property");

     (j)  the  Intellectual  Property  comprises  all trade marks,  trade names,
          business names, patents,  inventions,  know-how,  copyrights,  service
          marks,  brand marks,  industrial  designs and all other  industrial or
          intellectual property necessary to conduct the Company's Business;

     (k)  the Company is the beneficial owner of the Intellectual Property, free
          and clear of all  Encumbrances,  and is not a party to or bound by any
          contract  or other  obligation  whatsoever  that limits or impairs its
          ability  to  sell,  transfer,  assign  or  convey,  or that  otherwise
          affects, the Intellectual Property;

     (l)  no person has been  granted any interest in or right to use all or any
          portion of the Intellectual Property;

     (m)  neither  the  Vendor  nor the  Company  are  aware  of a claim  of any
          infringement  or breach of any  industrial  or  intellectual  property
          rights of any other person by the Company,  nor have the Vendor or the
          Company received any notice that the conduct of the Company's Business
          infringes or breaches any industrial or  intellectual  property rights
          of any other person, and neither the Vendor nor the Company, after due
          inquiry, have any knowledge of any infringement or violation of any of
          their  rights  or the  rights  of  the  Company  in  the  Intellectual
          Property;

     (n)  the  conduct of the  Company's  Business  does not  infringe  upon the
          patents, trade marks, licenses, trade names, business names, copyright
          or other  industrial  or  intellectual  property  rights,  domestic or
          foreign, of any other person;

<PAGE>

                                       121

     (o)  neither  the  Vendor nor the  Company  are aware of any state of facts
          that  casts  doubt on the  validity  or  enforceability  of any of the
          Intellectual Property;

     (p)  the Company has provided to the  Purchaser a true and complete copy of
          all  Contracts and  amendments  thereto that comprise or relate to the
          Intellectual Property;

     Financial Statements
     --------------------

     (q)  the Company's Audited  Financial  Statements dated June 30, 2003, have
          been  prepared  in  accordance  with  generally  accepted   accounting
          principles  applied  on a basis  consistent  with prior  periods,  are
          correct  and  complete  and  present  fairly the  assets,  liabilities
          (whether  accrued,  absolute,  contingent or otherwise)  and financial
          condition  of the  Company as at the  respective  dates of and for the
          respective periods covered by the Company's Financial Statements;

     (r)  for any period up to the Time of Closing the Company will not have any
          debts  or  liabilities   whatsoever  (whether  accrued,   absolute  or
          contingent  or  otherwise),  including  any  liabilities  for federal,
          provincial, sales, excise, income, corporate or any other taxes of the
          Company except for;

          (i)  the debts and liabilities  disclosed on, provided for or included
               in the  balance  sheet  forming a part of the most  recent of the
               Company's Financial Statements;

          (ii) debts or liabilities  disclosed in this Agreement or any Schedule
               hereto; and

          (iii)liabilities  incurred  by the Company in the  ordinary  course of
               the  Company's  Business  subsequent  to the date of the  balance
               sheet referred to in the Company's Financial Statements;

     Books and Records
     -----------------

     (s)  the books and records of the Company  fairly and correctly set out and
          disclose,  in all material  respects,  in  accordance  with  generally
          accepted accounting  principles,  consistently  applied, the financial
          condition of the Company as of the date of this Master  Agreement  and
          all  material   financial   transactions  of  the  Company  have  been
          accurately recorded in such books and records;

     Corporate Records
     -----------------

     (t)  the Corporate records and minute books of the Company contain complete
          and accurate minutes, (duly signed by the chairman and/or secretary of
          the  appropriate  meeting)  of  all  meetings  of  the  directors  and
          shareholders of the Company since its date of incorporation;

<PAGE>

                                       122

     (u)  the share certificate records,  the securities register,  the register
          of  disclosures  , the  register of  directors  and  officers  for the
          Company are  contained in the  corporate  minute book and are complete
          and accurate in all respects;

     Directors and Officers
     ----------------------

     (v)  the present directors and officers of the Company are as follows:

          Name                                    Position
          ----                                    --------

          Xianping Wang                           President and Director

     Accuracy of Warranties
     ----------------------

     (w)  neither this Agreement nor any document,  schedule, list, certificate,
          declaration under oath or written statement now or hereafter furnished
          by the Vendor or the Company to the Purchaser in  connection  with the
          transactions  contemplated by this Agreement  contains or will contain
          any untrue statement or  representation of a material fact on the part
          of the Vendor or the  Company,  or omits or will omit on behalf of the
          Vendor or the Company to state a material  fact  necessary to make any
          such  statement  or  representation  therein or herein  contained  not
          misleading; and

     Full Disclosure
     ---------------

     (x)  the  Vendor  has  no   information   or  knowledge  of  any  fact  not
          communicated  to the  Purchaser  and relating to the Company or to the
          Company's  Business or to the Purchased  Shares which, if known to the
          Purchaser,  might  reasonably be expected to deter the Purchaser  from
          entering  into this  Agreement  or from  completing  the  transactions
          contemplated by this Agreement.

3.4  Survival of the  Representations,  Warranties  and Covenants by each of the
     ---------------------------------------------------------------------------
Vendor and the Company.  To the extent they have not been fully  performed at or
----------------------
prior to the Time of Closing,  each and every representation and warranty of the
Vendor or the Company contained in this Agreement and any agreement, instrument,
certificate or other document  executed or delivered  pursuant to this Agreement
shall:

     (a)  be true and correct on and as of the Closing  Date with the same force
          and effect as though made or given on the Closing Date;

     (b)  remain in full force and  effect  notwithstanding  any  investigations
          conducted by or on behalf of the Purchaser; and

     (c)  survive  the  completion  of the  transactions  contemplated  by  this
          Agreement  until the second  anniversary of the Closing Date and shall
          continue  in full force and effect  for the  benefit of the  Purchaser
          during that period, except that:

<PAGE>

                                       123

          (i)  the  representations  and warranties set out in section 3.2(a) to
               and  including  3.2(i)  above shall  survive and continue in full
               force and effect without limitation of time; and

          (ii) a  claim  for  any  breach  of  any of  the  representations  and
               warranties  contained  in  this  Agreement  or in any  agreement,
               instrument,  certificate or other document  executed or delivered
               pursuant hereto  involving fraud or fraudulent  misrepresentation
               may be made at any time following the Closing Date,  subject only
               to applicable limitation periods imposed by law.

     (d)  to the extent  they have not been fully  performed  at or prior to the
          Time of Closing,  each and every  covenant of the Vendor  contained in
          this  Agreement and any  agreement,  instrument,  certificate or other
          document  executed  or  delivered  pursuant  to this  Agreement  shall
          survive  the  completion  of the  transactions  contemplated  by  this
          Agreement and, notwithstanding such completion, shall continue in full
          force and effect for the benefit of the Purchaser.

                                    Article 4
                                    ---------
           WARRANTIES, REPRESENTATIONS AND COVENANTS BY THE PURCHASER
           ----------------------------------------------------------

4.1  Warranties,  Representations  and Covenants by the  Purchaser.  In order to
     -------------------------------------------------------------
induce the Vendor and the Company to enter into and consummate  this  Agreement,
the Purchaser  hereby warrants to,  represents to and covenants with each of the
Vendor and the Company,  with the intent that each of the Vendor and the Company
will  rely  thereon  in  entering  into this  Agreement  and in  concluding  the
transactions   contemplated   herein,  that,  to  the  best  of  the  knowledge,
information and belief of the Purchaser, after having made due inquiry:

     Corporate Status of the Purchaser
     ---------------------------------

     (a)  the  Purchaser is a company with limited  liability  duly and properly
          incorporated,  organized and validly  subsisting under the laws of the
          Country of Antigua being the only jurisdiction where it is required to
          be registered  for the purpose of enabling it to carry on its business
          and own its property as presently carried on and owned;

     (b)  the Purchaser has good and  sufficient  power,  authority and right to
          own or lease its property, to enter into this Agreement and to perform
          its obligations hereunder;

     Authorization
     -------------

     (c)  this Agreement has been duly authorized, executed and delivered by the
          Purchaser  and  is a  legal,  valid  and  binding  obligation  of  the
          Purchaser,  enforceable against the Purchaser,  as the case may be, by
          the Vendor and/or the Company in accordance with its terms,  except as

<PAGE>

                                       124

          enforcement  may be limited by  bankruptcy,  insolvency and other laws
          affecting the rights of creditors  generally and except that equitable
          remedies may be granted only in the discretion of a court of competent
          jurisdiction;

     Share Capital
     -------------

     (d)  the authorized capital of the Purchaser consists of 100,000,000 shares
          of common  stock of which  27,091,033  shares  of common  stock of the
          Purchaser have been duly issued and are  outstanding as fully paid and
          non-assessable,  and 50,000,000  shares of preferred stock of which no
          shares of preferred stock are issued and outstanding;

     (e)  all of the issued and  outstanding  shares of the Purchaser are listed
          and posted for trading on the Exchange;

     (f)  the  Purchaser  will allot and issue the Common  Shares on the Closing
          Date in accordance with sections "2.2" and "2.3"  hereinabove as fully
          paid and  non-assessable  in the  capital of the  Purchaser,  free and
          clear of all actual or threatened liens, charges,  security interests,
          options,  encumbrances,  voting  agreements,  voting trusts,  demands,
          limitations and restrictions of any nature whatsoever, other than hold
          periods or other  restrictions  imposed  under  applicable  securities
          legislation or by securities regulatory authorities;

     Options
     -------

     (g)  no person  has any  agreement  or  option  or any  right or  privilege
          (whether by law,  pre-emptive or  contractual)  capable of becoming an
          agreement,  including convertible securities,  warrants or convertible
          obligations of any nature, for the purchase,  subscription,  allotment
          or  issuance  of  any  unissued  shares  or  other  securities  of the
          Purchaser  except for 3,000,000  stock options  exercisable at US$1.31
          per share which have been granted to  directors,  officers,  employees
          and consultants of the Purchaser;

     Directors and Officers
     ----------------------

     (h)  the present directors and officers of the Purchaser are as follows:

          Name                                   Position
          ----                                   --------
          Wei Dong Yin                           Director, President and CEO;
          Lily Wang                              Director and CFO;
          He Ping Wang                           Director
          Kim Kiat Ong                           Director

     Full Disclosure
     ---------------

     (i)  the  Purchaser  has  no  information  or  knowledge  of any  fact  not
          communicated  to the  Vendor  and  the  Company  and  relating  to the
          Purchaser  or to  the  Purchaser's  business  or  to  its  issued  and
          outstanding  securities  which,  if known  to the  Vendor  and/or  the

<PAGE>

                                       125

          Company,  might  reasonably be expected to deter the Vendor and/or the
          Company  from  entering  into this  Agreement or from  completing  the
          transactions contemplated by this Agreement.

4.2  Survival of the Representations, Warranties and Covenants by the Purchaser.
     ---------------------------------------------------------------------------
To the  extent  they have not been  fully  performed  at or prior to the Time of
Closing,  each  representation  and warranty of the Purchaser  contained in this
Agreement or in any  document,  instrument,  certificate  or  undertaking  given
pursuant hereto shall:

     (a)  be true and correct on and as of the Closing  Date with the same force
          and effect as though made or given on the Closing Date;

     (b)  remain in full  force an  effect  notwithstanding  any  investigations
          conducted by or on behalf of the Purchaser, and

     (c)  survive  the  completion  of the  transactions  contemplated  by  this
          Agreement  until the second  anniversary of the Closing Date and shall
          continue  in full force and  effect for the  benefit of the Vendor and
          the Company during that period,  except that a claim for any breach of
          any of the representations and warranties  contained in this Agreement
          or  in  any  agreement,  instrument,  certificate  or  other  document
          executed or delivered  pursuant  hereto  involving fraud or fraudulent
          misrepresentation  may be made at any time following the Closing Date,
          subject only to applicable limitation periods imposed by law.

     (d)  To the extent  they have not been fully  performed  at or prior to the
          Time of Closing, each and every covenant of the Purchaser contained in
          this  Agreement and any  agreement,  instrument,  certificate or other
          document  executed  or  delivered  pursuant  to this  Agreement  shall
          survive  the  completion  of the  transactions  contemplated  by  this
          Agreement and, notwithstanding such completion, shall continue in full
          force and effect for the benefit of the Vendor and the Company.

                                    Article 5
                                    ---------
                         CONDITIONS PRECEDENT TO CLOSING
                         -------------------------------

5.1  Parties' Conditions Precedent prior to the Closing Date. All of the rights,
     -------------------------------------------------------
duties and  obligations  of each of the Parties  hereto under this Agreement are
subject to the following  conditions precedent for the exclusive benefit of each
of the Parties to be fulfilled in all material aspects in the reasonable opinion
of each of the  Parties  or to be waived by each or any of the  Parties,  as the
case may be, as soon as  possible  after the  Execution  Date;  however,  unless
specifically indicated as otherwise, not later than the Time of Closing:

     (a)  the  specific  ratification  of  the  terms  and  conditions  of  this
          Agreement  by the Board of  Directors  of the  Purchaser  within  five
          business days of the due and complete  execution of this  Agreement by
          each of the Parties hereto (the "Purchaser's Ratification");

<PAGE>

                                       126

     (b)  the  completion  by the  Purchaser  of an initial  due  diligence  and
          operations review of the Company's Business and operations within five
          (5) calendar  days of the prior  satisfaction  by the Purchaser of the
          Purchaser's Ratification (the "Purchaser's Initial Due Diligence");

5.2  Parties' Waiver of Conditions Precedent. The conditions precedent set forth
     ---------------------------------------
in  section  "5.1"  hereinabove  are for the  exclusive  benefit  of each of the
Parties  hereto and may be waived by each of the Parties in writing and in whole
or in part at or prior to the Time of Closing.

5.3  The Vendor's and the Company's Conditions Precedent.  The purchase and sale
     ---------------------------------------------------
of the Purchased Securities is subject to the following terms and conditions for
the  exclusive  benefit  of the  Vendor  and the  Company,  to be  fulfilled  or
performed at or prior to the Time of Closing:

     (a)  the  representations and warranties of the Purchaser contained in this
          Agreement  shall be true and correct in all  material  respects at the
          Time  of  Closing,   with  the  same  force  and  effect  as  if  such
          representations and warranties were made at and as of such time;

     (b)  all of the terms,  covenants and  conditions  of this  Agreement to be
          complied  with or performed by the  Purchaser at or before the Time of
          Closing  shall have been  complied  with or  performed in all material
          respects;

     (c)  there  shall  have  been  obtained,   from  all  appropriate  federal,
          provincial,  municipal or other governmental or administrative bodies,
          such   licenses,   permits,   consents,    approvals,    certificates,
          registrations and authorizations as are required by law, if any, to be
          obtained by the  Purchaser  to permit the change of  ownership  of the
          Purchased  Shares  contemplated  hereby,  in each  case  in  form  and
          substance   satisfactory  to  the  Vendor  and  the  Company,   acting
          reasonably;

     (d)  no legal or  regulatory  action  or  proceeding  shall be  pending  or
          threatened by any person to enjoin,  restrict or prohibit the purchase
          and sale of the Purchased Shares contemplated hereby;

     If any of the  conditions  contained  in  this  section  5.3  shall  not be
performed or fulfilled at or prior to the Time of Closing to the satisfaction of
the Vendor and the Company,  acting  reasonably,  the Vendor  and/or the Company
may, by notice to the Purchaser, terminate this Agreement and the obligations of
the Vendor,  the Company and the Purchaser under this Agreement,  other than the
obligations  contained in Article 8 hereinbelow,  shall be terminated,  provided
that the Vendor and the Company  may also bring an action  pursuant to Article 7
against  the  Purchaser  for damages  suffered by the Vendor  and/or the Company
where the  non-performance  or non-fulfillment of the relevant condition is as a
result of a breach of covenant, representation or warranty by the Purchaser. Any
such  condition  may be waived in whole or in part by the Vendor and the Company
in writing  without  prejudice to any claims it may have for breach of covenant,
representation or warranty.

<PAGE>

                                       127

5.4  Purchaser's  Conditions  Precedent  prior to the Closing Date. The sale and
     -------------------------------------------------------------
purchase  of the  Purchased  Shares  is  subject  to  the  following  terms  and
conditions  for the  exclusive  benefit of the  Purchaser,  to be  fulfilled  or
performed at or prior to the Time of Closing:

     (a)  the  representations  and  warranties  of the Vendor  and the  Company
          contained in this  Agreement  shall be true and correct at the Time of
          Closing, with the same force and effect as if such representations and
          warranties were made at and as of such time;

     (b)  all of the terms,  covenants and  conditions  of this  Agreement to be
          complied  with or performed by the Vendor and the Company at or before
          the Time of Closing shall have been complied with or performed;

     (c)  there  shall  have  been  obtained,   from  all  appropriate  federal,
          provincial,  municipal or other governmental or administrative bodies,
          such   licenses,   permits,   consents,    approvals,    certificates,
          registrations and  authorizations  as are required to be obtained,  if
          any, by the Vendor and the  Company to permit the change of  ownership
          of the Purchased Shares contemplated hereby;

     (d)  there shall have been no  material  adverse  changes in the  condition
          (financial or otherwise), assets, liabilities,  operations,  earnings,
          the  Company's  Business or prospects of the Company since the date of
          the Company's Financial Statements;

     (e)  no legal or  regulatory  action  or  proceeding  shall be  pending  or
          threatened by any person to enjoin,  restrict or prohibit the purchase
          and sale of the Purchased Shares contemplated hereby;

     (f)  no  material  damage  by fire or  other  hazard  to the  whole  or any
          material  part of the  property  or assets of the  Company  shall have
          occurred from the date hereof to the Time of Closing;

     If any of the  conditions  contained  in  this  section  5.4  shall  not be
performed or fulfilled at or prior to the Time of Closing to the satisfaction of
the Purchaser, acting reasonably, the Purchaser may, by notice to the Vendor and
the Company,  terminate  this Agreement and the  obligations of the Vendor,  the
Company and the Purchaser under this  Agreement,  other than the obligations set
forth in Article 8, shall be  terminated,  provided  that the Purchaser may also
bring an action  pursuant to Article 7 against the Vendor and/or the Company for
damages suffered by the Purchaser where the  non-performance  or non-fulfillment
of the relevant condition is as a result of a breach of covenant, representation
or warranty by the Vendor or the Company.  Any such  condition  may be waived in
whole or in part by the  Purchaser  without  prejudice to any claims it may have
for breach of covenant, representation or warranty.

<PAGE>

                                       128

                                    Article 6
                                    ---------
                          CLOSING AND EVENTS OF CLOSING
                          -----------------------------

6.1  Closing  and  Closing  Date.  The  closing  (the  "Closing")  of the within
     ---------------------------
purchase and delivery of the Purchased  Shares, as contemplated in the manner as
set forth in Article  "2"  hereinabove,  together  with all of the  transactions
contemplated  by this  Agreement  shall occur on January 29, 2004 (the  "Closing
Date"),  or on such earlier or later Closing Date as may be agreed to in advance
and in writing by each of the Parties hereto,  and will be closed at the offices
of solicitors for the  Purchaser,  Devlin  Jensen,  Barristers  and  Solicitors,
located at Suite 2550 - 555 W. Hastings St.,  Vancouver,  B.C., V6B 4N5, at 2:00
p.m. (Vancouver time) on the Closing Date.

6.2  Latest  Closing  Date.  If the Closing Date has not occurred by January 31,
     ---------------------
2004,  subject to an extension as may be mutually agreed to by the Parties for a
maximum of 14 days per  extension,  then the Purchaser and the Vendor shall each
have the option to terminate this Agreement by delivery of written notice to the
other Party.  Upon delivery of such notice,  this Agreement shall cease to be of
any force and effect except for Article "8"  hereinbelow,  which shall remain in
full force and effect notwithstanding the termination of this Agreement.

6.3  Documents  to be  delivered  by the  Company  and the  Vendor  prior to the
     ---------------------------------------------------------------------------
Closing Date.  Not later than five calendar days prior to the Closing Date,  and
------------
in  addition  to the  documentation  which is  required  by the  agreements  and
conditions precedent which are set forth hereinabove, the Company and the Vendor
shall also execute and deliver or cause to be delivered to  Purchaser's  counsel
all such other  documents,  resolutions and instruments as may be necessary,  in
the opinion of counsel for the Purchaser,  acting reasonably, to complete all of
the  transactions   contemplated  by  this  Agreement  and  including,   without
limitation,  the  necessary  transfer  of  all of the  Purchased  Shares  to the
Purchaser  free  and  clear  of  all  liens,  security  interests,  charges  and
encumbrances,  and in  particular  including,  but not  being  limited  to,  the
following materials:

     (a)  all  documentation  as may be necessary  and as may be required by the
          solicitors for the Purchaser, acting reasonably, to ensure that all of
          the  Purchased  Shares  have  been   transferred,   assigned  and  are
          registerable in the name of and for the benefit of the Purchaser under
          all applicable corporate and securities laws;

     (b)  certificates  representing the Purchased Shares registered in the name
          of the Vendor,  duly  endorsed  for transfer to the  Purchaser  and/or
          irrevocable  stock powers  transferring  the  Purchased  Shares to the
          Purchaser;

     (c)  certificates  representing the Purchased Shares registered in the name
          of the Purchaser;

     (d)  a  certified  copy of the  resolutions  of the  directors  (and of the
          Vendor/shareholder,  if  necessary)  of the  Company  authorizing  the
          transfer by the Vendor to the Purchaser of the Purchased Shares;

<PAGE>

                                       129

     (e)  a copy of all  corporate  records  and books of account of the Company
          and including,  without  limiting the  generality of the foregoing,  a
          copy of all minute books,  share  register  books,  share  certificate
          books and annual reports of the Company;

     (f)  all remaining Business Documentation; and

     (g)  all such other documents and instruments as the Purchaser's solicitors
          may reasonably require.

6.4  Documents to be delivered by the Purchaser  prior to the Closing Date.  Not
     ---------------------------------------------------------------------
later than the  Closing  Date,  and in addition  to the  documentation  which is
required  by the  agreements  and  conditions  precedent  which  are  set  forth
hereinabove,  the  Purchaser  shall  also  execute  and  deliver  or cause to be
delivered to the Company's and the Vendor's  counsel,  all such other documents,
resolutions and instruments that may be necessary, in the opinion of counsel for
the  Company  and  the  Vendor,  acting  reasonably,  to  complete  all  of  the
transactions  contemplated by this Agreement and including,  without limitation,
the necessary  acceptance of the transfer of all of the Purchased  Shares to the
Purchaser  free  and  clear  of all  liens,  charges  and  encumbrances,  and in
particular including, but not being limited to, the following materials:

     (a)  a copy of the resolutions of the directors of the Purchaser  providing
          for the approval of all of the transactions contemplated hereby;

     (b)  an executed  treasury  order of the  Purchaser  providing  for the due
          issuance of all of the Purchase  Price Common  Shares to the order and
          direction of the Vendor in  accordance  with  section  "2.2" and "2.3"
          hereinabove; and

     (c)  all such other  documents  and  instruments  as the  Company's and the
          Vendors' respective solicitors may reasonably require.

                                    Article 7
                                    ---------
                      INDEMNIFICATION AND LEGAL PROCEEDINGS
                      -------------------------------------

7.1  Indemnification.  The Parties  hereto agree to indemnify  and save harmless
     ---------------
the other Parties  hereto and  including,  where  applicable,  their  respective
affiliates,  directors, officers, employees and agents (each such party being an
"Indemnified  Party")  harmless  from and against and agree to be liable for any
and all losses, claims, actions,  suits,  proceedings,  damages,  liabilities or
expenses  of  whatever  nature or kind,  including  any  investigation  expenses
incurred by any  Indemnified  Party,  to which an  Indemnified  Party may become
subject by reason of the terms and conditions of this Agreement.

7.2  No  Indemnification.  This  indemnity  will  not  apply  in  respect  of an
     -------------------
Indemnified  Party in the  event  and to the  extent  that a court of  competent

<PAGE>

                                       130

jurisdiction in a final judgment shall determine that the Indemnified  Party was
grossly negligent or guilty of willful misconduct.

7.3  Claim of Indemnification.  The Parties hereto agree to waive any right they
     ------------------------
might  have of first  requiring  the  Indemnified  Party to  proceed  against or
enforce any other right, power, remedy, security or claim payment from any other
person before claiming this indemnity.

7.4  Notice of Claim. In case any action is brought against an Indemnified Party
     ---------------
in respect of which  indemnity may be sought against any of the Parties  hereto,
the Indemnified  Party will give the relevant Party hereto prompt written notice
of any such action of which the  Indemnified  Party has knowledge and such Party
will  undertake  the   investigation  and  defense  thereof  on  behalf  of  the
Indemnified Party,  including the prompt consulting of counsel acceptable to the
Indemnified  Party  affected  and the  payment of all  expenses.  Failure by the
Indemnified  Party to so notify  shall  not  relieve  any  Party  hereto of such
Party's obligation of  indemnification  hereunder unless (and only to the extent
that) such failure  results in a forfeiture  by any Party hereto of  substantive
rights or defenses.

7.5  Settlement. No admission of liability and no settlement of any action shall
     ----------
be made without the consent of each of the Parties hereto and the consent of the
Indemnified Party affected, such consent not to be unreasonably withheld.

7.6  Legal  Proceedings.  Notwithstanding  that the  relevant  Party hereto will
     ------------------
undertake the investigation and defense of any action, an Indemnified Party will
have the right to employ separate  counsel in any such action and participate in
the defense  thereof,  but the fees and  expenses of such counsel will be at the
expense of the Indemnified Party unless:

     (a)  such counsel has been authorized by the relevant Party hereto;

     (b)  the  relevant  Party  hereto has not assumed the defense of the action
          within a  reasonable  period  of time  after  receiving  notice of the
          action;

     (c)  the named parties to any such action include that any Party hereto and
          the  Indemnified  Party shall have been  advised by counsel that there
          may be a  conflict  of  interest  between  any  Party  hereto  and the
          Indemnified Party; or

     (d)  there are one or more  legal  defenses  available  to the  Indemnified
          Party which are  different  from or in addition to those  available to
          any Party hereto.

7.7  Contribution.  If for any  reason  other than the gross  negligence  or bad
     ------------
faith of the  Indemnified  Party  being  the  primary  cause of the loss  claim,
damage, liability, cost or expense, the foregoing indemnification is unavailable
to the Indemnified  Party or  insufficient  to hold them harmless,  the relevant

<PAGE>

                                       131

Party hereto shall  contribute to the amount paid or payable by the  Indemnified
Party as a result of any and all such losses,  claim,  damages or liabilities in
such  proportion  as is  appropriate  to reflect not only the relative  benefits
received by any Party  hereto on the one hand and the  Indemnified  Party on the
other,  but  also  the  relative  fault  of  the  Parties  and  other  equitable
considerations  which  may  be  relevant.  Notwithstanding  the  foregoing,  the
relevant  Party  hereto  shall in any event  contribute  to the  amount  paid or
payable  by the  Indemnified  Party,  as a result  of the loss,  claim,  damage,
liability, cost or expense (other than a loss, claim, damage, liability, cost or
expenses, the primary cause of which is the gross negligence or bad faith of the
Indemnified  Party),  any  excess  of such  amount  over the  amount of the fees
actually received by the Indemnified Party hereunder.

                                    Article 8
                                    ---------
                                 NON-DISCLOSURE
                                 --------------

8.1  Public  Announcements  and  Disclosure  to  Regulatory   Authorities.   All
     --------------------------------------------------------------------
information  relating to the Agreement and the transaction  contemplated therein
shall be treated as confidential  and no public  disclosure shall be made by any
Party   without  the  prior   approval   of  the  Company  and  the   Purchaser.
Notwithstanding the provisions of this Article, the Parties hereto agree to make
such public  announcements and disclosure to the Regulatory  Authorities of this
Agreement promptly upon its execution all in accordance with the requirements of
applicable securities legislation and regulations.

                                    Article 9
                                    ---------
                            ASSIGNMENT AND AMENDMENT
                            ------------------------

9.1  Assignment.  Save and except as provided herein,  no Party hereto may sell,
     ----------
assign,  pledge  or  mortgage  or  otherwise  encumber  all or any  part  of its
respective interest herein without the prior written consent of all of the other
Parties hereto.

9.2  Amendment.  This Agreement and any provision thereof may only be amended in
     ---------
writing  and  only  by duly  authorized  signatories  of each of the  respective
Parties hereto.

                                   Article 10
                                   ----------
                                  FORCE MAJEURE
                                  -------------

10.1   Events.  If any Party hereto  is at any  time  prevented  or  delayed  in
       ------
complying with any provisions of this Agreement by reason of strikes, walk-outs,
labour  shortages,  power  shortages,  fires,  wars,  acts of God,  earthquakes,
storms,   floods,   explosions,   accidents,   protests  or   demonstrations  by
environmental  lobbyists  or native  rights  groups,  delays in  transportation,
breakdown  of  machinery,  inability to obtain  necessary  materials in the open
market, unavailability of equipment, governmental regulations restricting normal
operations, shipping delays or any other reason or reasons beyond the control of

<PAGE>

                                       132

that  Party,  then the time  limited  for the  performance  by that Party of its
respective  obligations hereunder shall be extended by a period of time equal in
length to the period of each such prevention or delay.

10.2   Notice.  A  Party shall,  within seven  calendar days, give notice to the
       ------
other Parties of each event of force majeure under section  "10.1"  hereinabove,
and upon  cessation of such event shall furnish the other Parties with notice of
that  event  together  with  particulars  of the  number  of days by  which  the
obligations  of that Party  hereunder have been extended by virtue of such event
of force majeure and all preceding events of force majeure.

                                   Article 11
                                   ----------
                                   ARBITRATION
                                   -----------

11.1   Matters for Arbitration.  The Parties agree that all questions or matters
       -----------------------
in dispute with  respect to this  Agreement  shall be  submitted to  arbitration
pursuant to the terms hereof.

11.2   Notice.  It shall be a  condition precedent to the  right of any Party to
       ------
submit any matter to  arbitration  pursuant  to the  provisions  hereof that any
Party  intending  to refer any matter to  arbitration  shall have given not less
than 10 calendar  days' prior  written  notice of its  intention to do so to the
other  Party  together  with  particulars  of  the  matter  in  dispute.  On the
expiration  of such 10 calendar  days the Party who gave such notice may proceed
to refer the dispute to arbitration as provided in section "11.3" hereinbelow.

11.3  Appointments. The Party desiring arbitration shall appoint one arbitrator,
      ------------
and shall notify the other Party of such appointment, and the other Party shall,
within two calendar days after receiving such notice, appoint an arbitrator, and
the two  arbitrators  so  named,  before  proceeding  to act,  shall,  within 10
calendar days of the appointment of the last appointed  arbitrator,  unanimously
agree on the appointment of a third arbitrator, to act with them and be chairman
of the arbitration herein provided for. If the other Party shall fail to appoint
an arbitrator  within 10 calendar days after receiving notice of the appointment
of the first  arbitrator,  and if the two  arbitrators  appointed by the Parties
shall be unable to agree on the appointment of the chairman,  the chairman shall
be appointed  under the  provisions of the Commercial  Arbitration  Act (British
Columbia) (the "Arbitration Act"). Except as specifically  otherwise provided in
this  section,  the  arbitration  herein  provided  for  shall be  conducted  in
accordance with such  Arbitration  Act. The chairman,  or in the case where only
one arbitrator is appointed,  the single arbitrator,  shall fix a time and place
in  Vancouver,  British  Columbia,  for the purpose of hearing the  evidence and
representations  of the Parties,  and he shall preside over the  arbitration and
determine all questions of procedure not provided for under such Arbitration Act
or this section. After hearing any evidence and representations that the Parties
may submit, the single arbitrator, or the arbitrators, as the case may be, shall
make an award and reduce the same to writing,  and  deliver one copy  thereof to
each of the Parties.  The expense of the arbitration  shall be paid as specified
in the award.

<PAGE>

                                       133

11.4   Award. The Parties agree that the award of a majority of the arbitrators,
       -----
or in the case of a single  arbitrator,  of such arbitrator,  shall be final and
binding upon each of them.

                                   Article 12
                                   ----------
                             DEFAULT AND TERMINATION
                             -----------------------

12.1   Default.  The Parties hereto agree that if any Party hereto is in default
       -------
with  respect to any of the  provisions  of this  Agreement  (herein  called the
"Defaulting Party"), the non-defaulting Party (herein called the "Non-Defaulting
Party") shall give notice to the Defaulting Party designating such default,  and
within 10 calendar days after its receipt of such notice,  the Defaulting  Party
shall either:

     (a)  cure such default,  or commence  proceedings  to cure such default and
          prosecute the same to completion without undue delay; or

     (b)  give the Non-Defaulting  Party notice that it denies that such default
          has occurred and that it is submitting  the question to arbitration as
          herein provided.

12.2   Arbitration.  If arbitration  is  sought, a Party  shall not be deemed in
       -----------
default  until the matter  shall  have been  determined  finally by  appropriate
arbitration under the provisions of Article "11" hereinabove.

12.3   Curing the Default.  If:
       ------------------

     (a)  the default is not so cured or the Defaulting  Party does not commence
          or diligently proceed to cure the default; or

     (b)  arbitration is not so sought; or

     (c)  the  Defaulting  Party is found in  arbitration  proceedings  to be in
          default,  and fails to cure it within  five  calendar  days  after the
          rendering of the arbitration award,

the Non-Defaulting Party may, by written notice given to the Defaulting Party at
any time while the default  continues,  terminate the interest of the Defaulting
Party in and to this Agreement.

12.4   Termination.  In addition to the  foregoing it is hereby acknowledged and
       -----------
agreed by the Parties hereto that this Agreement will be terminated in the event
that:

<PAGE>

                                       134

     (a)  the Purchaser's Ratification is not received within five business days
          of the due and  complete  execution  of this  Agreement by each of the
          Parties hereto;

     (b)  the Purchaser fails to complete a successful and  Purchaser's  Initial
          Due Diligence review of the Company's  business and operations  within
          five (5) calendar days of the prior  satisfaction  by the Purchaser of
          the Purchaser's Ratification;

     (c)  the conditions  specified in section "5.1"  hereinabove  have not been
          satisfied at or prior to the Time of Closing;

     (d)  either of the Parties  hereto has not either  satisfied or waived each
          of their  respective  conditions  precedent at or prior to the Time of
          Closing in accordance with the provisions of Article "5" hereinabove;

     (e)  either of the  Parties  hereto  has  failed to deliver or caused to be
          delivered any of their respective  documents  required to be delivered
          by Articles "5" and "6" hereinabove at or prior to the Time of Closing
          in accordance with the provisions of Articles "5" and "6"; or

     (f)  by Closing has not  occurred on or before  January 31,  2004,  or such
          later date, all in accordance with section "6.2" hereinabove; or

     (g)  by agreement in writing by each of the Parties hereto;

and in such event this  Agreement  will be terminated and be of no further force
and effect other than the obligations under Article "8" hereinabove.

                                   Article 13
                                   ----------
                                     NOTICE
                                     ------

13.1   Notice.  Each notice, demand or other communication required or permitted
       ------
to be given  under  this  Agreement  shall be in  writing  and  shall be sent by
prepaid  registered  mail  deposited  in a post  office  addressed  to the Party
entitled to receive the same,  or  delivered  to such Party,  at the address for
such Party specified above. The date of receipt of such notice,  demand or other
communication  shall be the date of delivery thereof if delivered,  or, if given
by registered  mail as aforesaid,  shall be deemed  conclusively to be the third
calendar  day after the same shall  have been so  mailed,  except in the case of
interruption  of postal  services for any reason  whatsoever,  in which case the
date of  receipt  shall  be the  date on  which  the  notice,  demand  or  other
communication is actually received by the addressee.

13.2   Change of Address.  Either  Party  may at any time and from  time to time
       -----------------
notify the other  Party in writing of a change of address and the new address to
which notice shall be given to it thereafter until further change.

<PAGE>

                                       135

                                   Article 14
                                   ----------
                               GENERAL PROVISIONS
                               ------------------

14.1   Entire Agreement.   This  Agreement  constitutes  the entire agreement to
       ----------------
date  between  the  Parties  hereto and  supersedes  every  previous  agreement,
communication,   expectation,  negotiation,   representation  or  understanding,
whether oral or written, express or implied, statutory or otherwise, between the
Parties  with respect to the subject  matter of this  Agreement  and  including,
without limitation,  the agreement as between the Purchaser,  the Vendor and the
Company.

14.2    Enurement.   This  Agreement  will enure to the benefit  of and  will be
        ---------
binding  upon  the  Parties   hereto,   their   respective   heirs,   executors,
administrators and assigns.

14.3   Schedules.  The Schedules to this  Agreement  are hereby incorporated  by
       ---------
reference into this Agreement in its entirety.

14.4   Time of the Essence.   Time will be of the essence of this Agreement.
       -------------------

14.5   Representation and Costs.   It  is  hereby  acknowledged  by  each of the
       ------------------------
Parties hereto that, as between the Parties  hereto,  Devlin Jensen,  Barristers
and Solicitors,  acts solely for the Purchaser,  and that each of the Vendor and
the  Company  have been  advised by Devlin  Jensen to obtain  independent  legal
advice with respect to their respective reviews and execution of this Agreement.
In addition,  it is hereby further acknowledged and agreed by the Parties hereto
that each Party to this  Agreement  will bear and pay its own  costs,  legal and
otherwise, in connection with its respective  preparation,  review and execution
of  this  Agreement,  and,  in  particular,  that  the  costs  involved  in  the
preparation  of this  Agreement,  and  all  documentation  necessarily  involved
thereto, by Devlin Jensen shall be at the cost of the Purchaser.

14.6   Applicable Law.   The  situs  of  this  Agreement  is Vancouver,  British
       --------------
Columbia and for all purposes this Agreement will be governed exclusively by and
construed and enforced in accordance with the laws and Courts  prevailing in the
Province of British Columbia.

14.7   Further  Assurances.  The Parties hereto hereby,  jointly and  severally,
       -------------------
covenant and agree to forthwith,  upon request, execute and deliver, or cause to
be executed and delivered,  such further and other deeds, documents,  assurances
and  instructions  as may be required by the Parties hereto or their  respective
counsel in order to carry out the true nature and intent of this Agreement.

14.8   Severability and Construction.   Each  Article,  section, paragraph, term
       -----------------------------
and provision of this Agreement,  and any portion  thereof,  shall be considered

<PAGE>

                                       136

severable,  and if, for any reason,  any portion of this Agreement is determined
to be invalid,  contrary to or in conflict with any applicable present or future
law,  rule or  regulation  in a final  unappealable  ruling issued by any court,
agency or tribunal with valid jurisdiction in a proceeding to any of the Parties
hereto is a party,  that ruling shall not impair the  operation  of, or have any
other effect upon, such other portions of this Agreement as may remain otherwise
intelligible  (all of which shall remain  binding on the Parties and continue to
be given full force and  agreement as of the date upon which the ruling  becomes
final).

14.9   Captions.   The captions, section  numbers, Article  numbers and Schedule
       --------
numbers  appearing in this  Agreement are inserted for  convenience of reference
only and shall in no way define, limit, construe or describe the scope or intent
of this Agreement nor in any way affect this Agreement.

14.10   Currency.  Unless otherwise stipulated,  all references to money amounts
        --------
herein shall be in lawful money of the United States.

14.11   Counterparts.   This Agreement may be signed by the Parties hereto in as
        ------------
many counterparts as may be necessary,  and via facsimile if necessary,  each of
which so signed being deemed to be an original  and such  counterparts  together
constituting  one and the  same  instrument  and,  notwithstanding  the  date of
execution, being deemed to bear the effective Execution Date as set forth on the
front page of this Agreement.

14.12   No Partnership  or Agency.   The  Parties  hereto  have  not  created  a
        -------------------------
partnership  and  nothing  contained  in  this  Agreement  shall  in any  manner
whatsoever  constitute any Party the partner,  agent or legal  representative of
any other  Party,  nor create any  fiduciary  relationship  between them for any
purpose  whatsoever.  No Party shall have any authority to act for, or to assume
any  obligations or  responsibility  on behalf of, any other party except as may
be,  from  time to time,  agreed  upon in  writing  between  the  Parties  or as
otherwise expressly provided.

14.13   Consents and Waivers.   No  consent or  waiver  expressed or  implied by
        --------------------
either  Party  hereto in respect of any breach or default by any other  Party in
the performance by such other of its obligations hereunder shall:

     (a)  be valid  unless it is in writing and stated to be a consent or waiver
          pursuant to this section;

     (b)  be  relied  upon as a consent  to or  waiver  of any  other  breach or
          default of the same or any other obligation;

     (c)  constitute a general waiver under this Agreement; or

     (d)  eliminate or modify the need for a specific consent or waiver pursuant
          to this section in any other or subsequent instance.

<PAGE>

                                       137

          IN WITNESS  WHEREOF each of the Parties  hereto has hereunto  executed
          -------------------
this  Agreement as of the Execution  Date as set forth on the front page of this
Agreement.

SIGNED and DELIVERED by             )
HE PING WANG, a Vendor              )
------------                        )
herein, in the presence of:         )
                                    )
                                    )
Witness Signature                   )              /s/ He Ping Wang
                                    )       --------------------------------
                                    )               HE PING WANG
                                    )
Witness Address                     )
                                    )
                                    )
Witness Name and Occupation         )

TANGSHAN YIAN BIOLOGICAL            )
------------------------            )
ENGINEERING CO., LTD., the Company  )
---------------------               )
herein,                             )
                                    )
                                    )
Per:     /s/ Xianping Wang          )
---------------------------------   )
Authorized Signatory                )

SINOVAC BIOTECH LTD., the           )
--------------------                )
Purchaser herein,                   )
                                    )
                                    )
Per:     /s/ Wei Dong Yin           )
---------------------------------   )
Authorized Signatory                )

<PAGE>

                                       138

                                   Schedule A
                                   ----------

     This is Schedule "A" to that certain Share Purchase Agreement among Sinovac
Biotech Ltd.,  Tangshan  Yian  Biological  Engineering  Co., Ltd. and the Vendor
shareholder of Tangshan Yian Biological Engineering Co., Ltd.

                        Purchased Securities and Vendors
                        --------------------------------

         Authorized Capital:                         unlimited common shares
         ------------------

         Issued Capital:                             9,335,435 common shares
         --------------

         Vendor:
         ------
                       He Ping Wang:    9,335,435 common shares.
                       ------------
                       C/o 120 Huoju Rd.
                       High Tech. Developing Zone
                       Tangshan, Hbei Provence
                       063000 P.R. China

<PAGE>

                                       139

                                   Schedule B
                                   ----------

          This is Schedule "B" to that certain Share  Purchase  Agreement  among
Sinovac  Biotech Ltd.,  Tangshan Yian Biological  Engineering  Co., Ltd. and the
Vendor shareholder of Tangshan Yian Biological Engineering Co., Ltd.

         Promissory Note Issued by Sinovac Biotech Ltd. to Tangshan Yian
         ---------------------------------------------------------------
                        Biological Engineering Co., Ltd.
                        --------------------------------

                     Refer to the materials attached hereto.
                     ---------------------------------------

                                   ----------

<PAGE>

                                       140

                                 PROMISSORY NOTE
                                 ---------------

Principal:        US$2,200,000               Made and Dated at: Vancouver, B.C.

Interest:         0% per annum

Issuance Date:    January 26, 2004           Maturity Date:  January 26, 2005

Borrower:         Sinovac Biotech Ltd.

Lender:           He Ping Wang

FOR VALUABLE CONSIDERATION, receipt whereof is hereby acknowledged, the Borrower
--------------------------
hereby  promises  to  pay to the  Lender  (also  called  the  "holder"),  or the
authorized  and  registered  subsequent  holder  of this  promissory  note  (the
"Note"),  the  principal  sum of $2,200,000 in lawful money of the United States
(hereinafter referred to as the "Principal Amount"), with no interest.

     The  Principal  Amount,  as  specified  above,  is due and  payable  by the
Borrower  on the  Maturity  Date.  The  Borrower  may  prepay  any amount of the
Principal Amount at any time prior to the Maturity Date without penalty and this
Note shall be discharged in respect to the amount paid.

     If the  Borrower  fails to make  payment  of the  Principal  Amount  on the
Maturity Date, the balance of the Principal  Amount under this  Promissory  Note
will become immediately due and payable.

     To secure payment of the Principal  Amount  hereunder,  the Borrower hereby
irrevocably  appoints and authorizes any  representative of the holder to appear
before a court of competent jurisdiction and enter judgment, without process, in
favour of the holder for any unpaid  Principal  Amount,  and the Borrower waives
and releases all errors which may intervene and consents to immediate  execution
upon such judgment.

     The Borrower  hereby  waives  demand,  presentment  for payment,  notice of
non-payment, and protest.

     If  any  provision  of  this  Note  is  held  to be  invalid,  illegal,  or
unenforceable,  then such shall not affect or impair the validity,  legality, or
enforceability of the remaining provisions.

     WITNESS  the hand and seal of the  Borrower  as of the 26th day of January,
2004.

SINOVAC BIOTECH LTD.
--------------------

per:     /s/ Wei Dong Yin
---------------------------------
         Authorized Signatory141

                                  EXHIBIT 10.7
                                  ------------

           This is an Exhibit to the Form 20-F of Sinovac Biotech Ltd.
           -----------------------------------------------------------

                     Attached find the following materials:

           Consulting Services and Finder's Fee Agreement entered into
           -----------------------------------------------------------
         between the Company and Roberto Ebrahimi, dated April 23, 2004
         --------------------------------------------------------------

                               End of Exhibit 10.7

                                  ------------

<PAGE>

                                       142

                               CONSULTING SERVICES
                               -------------------

                           AND FINDER'S FEE AGREEMENT
                           --------------------------

          THIS CONSULTING  SERVICES AND FINDER'S FEE AGREEMENT is made and dated
          ----------------------------------------------------
for reference as fully executed on this 23rd day of April, 2004.

BETWEEN:
-------

               SINOVAC  BIOTECH LTD., a company  incorporated  under the laws of
               ---------------------
               Antigua,  West  Indies,  and  having an  address  for  notice and
               delivery  located  at No. 6 Temple  Street,  P.O.  Box  2372,  St
               John's, Antigua, West Indies

               (the "Company");
                                                               OF THE FIRST PART
                                                               -----------------

AND:
---

               ROBERTO (BAHRAM)  EBRAHIMI,  an individual  businessman having an
               --------------------------
               address for notice and delivery located at ______________________

               (the "Consultant");
                                                              OF THE SECOND PART
                                                              ------------------

               (the Company and the Consultant being hereinafter singularly also
               referred  to as a "Party"  and  collectively  referred  to as the
               "Parties" as the context so requires).

               WHEREAS:
               -------

A.   The  Company is  presently  a  reporting  development  stage  company  duly
incorporated  under the laws of Antigua,  West Indies,  whose common  shares are
presently listed for trading on the NASD Over-the-counter Bulletin Board;

B.   The Consultant  specializes in providing various  corporate  consulting and
financing  services to companies  and their  principals  and in  assisting  such
reporting companies in securing various financing and development alternatives;

<PAGE>

                                       143

C.   The  Company  is  in  the  principal   business  of  the   development  and
commercialization of human vaccines for infectious illnesses such as Hepatitis A
and Hepatitis B,  influenza and "SARS" (each such product and potential  product
and the manufacture and distribution  thereof being a "Project" herein),  and it
is the Company's  present  intention to seek  assistance in procuring  potential
financiers in connection with the financing and development of all such Projects
(each such procurement being a "Proposed Transaction"); and

D.   In the furtherance of the  Consultant's  proposed service to the Company on
behalf of and at the  direction  of the  Company the  Company  hereby  wishes to
formally retain the Consultant to provide certain corporate  consulting services
to the Company and to any of its  subsidiaries  and, in addition,  to act as the
Company's  non-exclusive  advisor in order to solicit offers from, and to assist
in the  negotiations  with,  potential  Project  financiers in order to effect a
Proposed  Transaction in connection  with any such Project,  and the Company has
hereby agreed that the  Consultant  shall be entitled to a finder's fee from the
Company in  conjunction  with the  successful  completion  of any such  Proposed
Transaction  all on the terms and conditions as set forth in this agreement (the
"Agreement");

          NOW THEREFORE THIS AGREEMENT  WITNESSETH that, in consideration of the
          ----------------------------------------
mutual  covenants and provisos  herein  contained,  THE PARTIES  HERETO AGREE AS
                                                    ----------------------------
FOLLOWS:
-------

                                    Article I
                                    ---------
                                 INTERPRETATION
                                 --------------

1.1  Definitions.  For all  purposes  of this  Agreement,  except  as  otherwise
     -----------
expressly provided or unless the context otherwise requires, the following words
and phrases shall have the following meanings:

     (a)  "Agreement" means this Consulting  Services and Finder's Fee Agreement
          as from time to time supplemented or amended by one or more agreements
          entered into pursuant to the applicable provisions hereof;

     (b)  "Arbitration  Act"  means  the  Commercial  Arbitration  Act  (British
          Columbia),  R.S.B.C.  1996,  as amended,  as set forth in Article "10"
          hereinbelow;

     (c)  "Board of  Directors"  means the Board of  Directors of the Company as
          duly constituted from time to time;

<PAGE>

                                       144

     (d)  "business day" means any day during which Canadian Chartered Banks are
          open  for  business  in the City of  Vancouver,  Province  of  British
          Columbia;

     (e)  "Company" means Sinovac Biotech Ltd., a company incorporated under the
          laws of  Antigua,  West  Indies,  or any  successor  company,  however
          formed, whether as a result of merger, amalgamation or other action;

     (f)  "Company's  Non-Renewal  Notice"  has the  meaning  ascribed  to it in
          section "3.2" hereinbelow;

     (g)  "Company's  Notice of Termination"  has the meaning  ascribed to it in
          section "3.4" hereinbelow;

     (h)  "Completed  Transaction"  has the  meaning  ascribed  to it in section
          "5.1" hereinbelow;

     (i)  "Consultant"   means   Roberto   (Bahram)   Ebrahimi,   an  individual
          businessman;

     (j)  "Effective  Date" has the  meaning  ascribed  to it in  section  "3.1"
          hereinbelow;

     (k)  "Effective Termination Date" has the meaning ascribed to it in section
          "3.4" hereinbelow;

     (l)  "Expenses"   has  the  meaning   ascribed  to  it  in  section   "4.2"
          hereinbelow;

     (m)  "Fee" has the meaning ascribed to it in section "4.1" hereinbelow;

     (n)  "Finder's  Fee"  has  the  meaning  ascribed  to it in  section  "5.1"
          hereinbelow;

     (o)  "General  Services"  has the meaning  ascribed to it in section  "2.1"
          hereinbelow;

     (p)  "Indemnified  Party" has the meaning  ascribed to it in section  "8.1"
          hereinbelow;

<PAGE>

                                       145

     (q)  "Initial  Term"  has  the  meaning  ascribed  to it in  section  "3.1"
          hereinbelow;

     (r)  "Party" or "Parties"  means the Company and/or the Consultant  hereto,
          as the context so requires,  together with their respective successors
          and permitted assigns as the context so requires;

     (s)  "Potential Project Investor" has the meaning ascribed to it in section
          "2.3" hereinbelow;

     (t)  "Project" has the meaning ascribed to it in recital "C" hereinabove;

     (u)  "Proposed  Transaction"  has the meaning ascribed to it in recital "C"
          hereinabove;

     (v)  "Regulatory Approval" means the acceptance for filing, if required, of
          the  transactions  contemplated  by this  Agreement by the  Regulatory
          Authorities;

     (w)  "Regulatory  Authority" and  "Regulatory  Authorities"  means,  either
          singularly or collectively as the context so requires, such regulatory
          agencies who have  jurisdiction over the affairs of the Company and/or
          the   Consultant  and  including,   without   limitation,   and  where
          applicable,  the British Columbia  Securities  Commission,  the United
          States   Securities   and  Exchange   Commission  and  all  regulatory
          authorities from whom any such authorization, approval or other action
          is  required  to be  obtained  or to be made in  connection  with  the
          transactions contemplated by this Agreement; and

     (x)  "subsidiary"  means any company or companies of which more than 50% of
          the outstanding  shares carrying votes at all times (provided that the
          ownership  of such  shares  confers the right at all times to elect at
          least a majority of the  directors of such company or  companies)  are
          for the time being owned by or held for that company  and/or any other
          company in like  relation to that  company and includes any company in
          like relation to the subsidiary.

1.2    Interpretation.   For the purposes of this Agreement, except as otherwise
       --------------
expressly provided or unless the context otherwise requires:

<PAGE>

                                       146

     (a)  the words  "herein",  "hereof"  and  "hereunder"  and  other  words of
          similar  import  refer  to this  Agreement  as a whole  and not to any
          particular Article, section or other subdivision of this Agreement;

     (b)  the headings are for  convenience  only and do not form a part of this
          Agreement  nor are they  intended  to  interpret,  define or limit the
          scope or extent of this or any provision of this Agreement;

     (c)  any  reference to an entity shall  include and shall be deemed to be a
          reference to any entity that is a permitted  successor to such entity;
          and

     (d)  words in the  singular  include the plural and words in the  masculine
          gender include the feminine and neuter genders, and vice versa.

                                   Article II
                                   ----------
                      SERVICES AND DUTIES OF THE CONSULTANT
                      -------------------------------------

2.1  General Services.  During the Initial Term of this Agreement the Consultant
     ----------------
will provide the Company with such general corporate  consulting services as may
be determined and required,  from time to time, by the Board of Directors of the
Company, in the Board of Directors' sole and absolute discretion,  in connection
with  the  Company  and all of its  subsidiaries,  as the  context  may  require
(collectively,  the  "General  Services"),  and  in  this  regard  it is  hereby
expressly  acknowledged  and agreed by the Parties  hereto  that the  Consultant
shall commit and provide the General Services on a reasonably  prioritized basis
during the Initial Term and during the  continuance  of this Agreement for which
the  Company,  as more  particularly  set forth  hereinbelow,  hereby  agrees to
provide the Consultant with the Fee and the Expense payment reimbursements (each
as hereinafter  determined) in accordance  with the terms and conditions of this
Agreement.

2.2  Specific services.  Without limiting the generality of the General Services
     -----------------
to be  provided  as  set  forth  in  section  "2.1"  hereinabove,  it is  hereby
acknowledged and agreed that the Consultant will provide the following  specific
corporate consulting services to the Company and to all of its subsidiaries,  as
the  context may  require,  subject at all times to the prior  direction  of the
Board of Directors of the Company:

     (a)  assistance in the initiation, creation, development,  coordination and
          administration  of a program  specifically  targeted to  maximize  the
          investment and financial community awareness of the Company and all of
          its subsidiaries, as the context may require;

<PAGE>

                                       147

     (b)  assistance in the  organization,  preparation and dissemination of any
          and all news releases and special  shareholder  or investment  reports
          for  the  Company  and  all of its  subsidiaries,  as the  context  so
          requires;

     (c)  assistance in the review with the Company and its  marketing  advisors
          of  all  notable   feedback  for  corporate   communication   planning
          respecting and via all data obtained;

     (d)  assistance in the  identification  of and recruitment of the necessary
          or advisable  resource and service  providers to effect the  Company's
          market objectives; and

     (e)  assistance in all other corporate  consulting service areas or matters
          as may be directed  from time to time by the Board of Directors of the
          Company in the Board of Directors' sole and absolute discretion.

2.3   Financing services and functions.  Without also limiting the generality of
      --------------------------------
the  General  Services  and  specific  services  to be  provided as set forth in
sections "2.1" and "2.2" hereinabove,  it is hereby also acknowledged and agreed
that the Consultant will also provide the following  specific financing services
and  functions to the Company as may be necessary  for and required with respect
to the  financing  of any  Project  and  subject,  at all  times,  to the  prior
direction of the Board of Directors of the Company:

     (a)  assistance in the analysis of debt and equity  proposals  delivered to
          the Company as compared with terms  generally  available in the market
          today;

     (b)  assistance  in  the   negotiation   and   structuring  of  a  Proposed
          Transaction  which  will  maximize  the  Company's  interests  in each
          subject Project together with the presentation of a written summary of
          said structure; provided, however, the Consultant will not be required
          to  act as a  lender  or  underwriter  of any  financing  of any  such
          Proposed Transaction;

     (c)  assistance  in  the   preparation   by  the  Company  of   information
          presentations and other documents  appropriate for the solicitation of
          expressions of interest to be made available to prospective  financing
          candidates and purchasers (each being a "Potential Project Investor");

     (d)  assistance in the  identification  of and approaches made to Potential
          Project  Investors and conducting  discussions and  negotiating  terms
          with Potential Project Investors;

<PAGE>

                                       148

     (e)  assistance  in  the   organization  of  the  due  diligence   process,
          assistance in evaluating all proposals  received and assistance in any
          further negotiations with Potential Project Investors; and

     (f)  assisting the Company and the Company's counsel in the preparation and
          completion  of any  documentation  required  in  order to  complete  a
          Proposed Transaction with any such Potential Project Investor.

2.4   Additional duties respecting the General Services.   The Consultant hereby
      -------------------------------------------------
acknowledges and agrees that the Consultant will, during the continuance of this
Agreement,  devote such of the Consultant's  time to the General Services of the
Company as may be determined  and  required,  from time to time, by the Board of
Directors  of  the  Company,  in the  Board  of  Directors'  sole  and  absolute
discretion, for the performance of said General Services faithfully, diligently,
to the  best of the  Consultant's  abilities  and in the best  interests  of the
Company  and,   furthermore,   that  the  Consultant's  business  time  will  be
prioritized for the Company in this regard.

                                   Article III
                                   -----------
                      INITIAL TERM, RENEWAL AND TERMINATION
                      -------------------------------------

3.1   Initial Term.    The initial term of this  Agreement (the "Initial  Term")
      ------------
is for a period which is the earlier of (i) two months  commencing  on April __,
2004 (the  "Effective  Date"),  or (ii) as long as the Company is  contemplating
procuring potential financing from a Potential Project Investor first introduced
by  the  Consultant  to  the  Company  in  connection  with  the  financing  and
development  of its  Projects,  subject  at all  times  to the  Company's  prior
receipt,  if  required,  of  Regulatory  Approval  from  each of the  Regulatory
Authorities to the terms and conditions of and the transactions  contemplated by
this Agreement.

3.2   Renewal by the Company.  Subject at all times to sections  "3.3" and "3.4"
      ----------------------
hereinbelow,  this  Agreement  shall  renew  automatically  if not  specifically
terminated in accordance  with the following  provisions.  The Company agrees to
notify the  Consultant  in writing at least 10 calendar days prior to the end of
the  Initial  Term of its  intent not to renew this  Agreement  (the  "Company's
Non-Renewal Notice"). Should the Company fail to provide a Company's Non-Renewal
Notice this Agreement shall  automatically  renew for a further one-month period
until  otherwise  specifically  renewed in writing by each of the Parties hereto
for the next one-month  period or,  otherwise,  terminated  upon delivery by the
Company of a corresponding  and follow-up 10 calendar day Company's  Non-Renewal
Notice in  connection  with and within 10 calendar  days prior to the end of any
such  one-month  renewal  period.  Any such renewal on a  one-month-to-one-month
basis shall be on the same terms and conditions contained herein unless modified
and agreed to in writing by the Parties.

3.3   Termination for cause by any Party.   Notwithstanding  any other provision
      ----------------------------------
of this Agreement,  this Agreement may be terminated at any time by either Party
upon written notice to the other Party and damages sought if:

<PAGE>

                                       149

     (a)  the other Party fails to cure a material  breach of any  provision  of
          this  Agreement  within 10  calendar  days from its receipt of written
          notice from said Party (unless such breach cannot be reasonably  cured
          within said 10 calendar days and the other Party is actively  pursuing
          to cure said breach);

     (b)  the other Party is willfully  non-compliant  in the performance of its
          respective  duties under this  Agreement  within 10 calendar days from
          its receipt of written  notice from said Party  (unless  such  willful
          non-compliance  cannot be reasonably corrected within said 10 calendar
          days and the other  Party is actively  pursuing  to cure said  willful
          non-compliance);

     (c)  the other Party commits fraud or serious  neglect or misconduct in the
          discharge of its respective duties hereunder or under the law; or

     (d)  the  other  Party  becomes   adjudged   bankrupt  or  a  petition  for
          reorganization  or  arrangement  under any law relating to bankruptcy,
          and where any such  involuntary  petition is not dismissed within five
          calendar days.

3.4   Termination  without cause by  the  Company.   Notwithstanding  any  other
      -------------------------------------------
provision of this Agreement,  this Agreement may be terminated by the Company at
any time after the  Effective  Date and during the  Initial  Term and during the
continuance  of this  Agreement  upon its  delivery to the  Consultant  of prior
written notice of its intention to do so (the "Company's Notice of Termination")
at least 10 calendar  days prior to the effective  date of any such  termination
(the "Effective Termination Date"). In any such event the respective obligations
of each of the Parties  hereto  under this  Agreement  (and  including,  without
limitation,  the Consultant's ongoing obligation to provide the General Services
and the Company's ongoing  obligation to provide the Fee and the Expense payment
reimbursements  (each as  hereinafter  determined))  will  continue  until  such
Effective   Termination  Date  as  provided  for  in  the  Company's  Notice  of
Termination and,  furthermore,  upon the Effective  Termination Date the Company
will also be obligated to provide the Consultant the then balance of any Fee and
Expense payment  reimbursement  which would then be due and owing by the Company
to the  Consultant to the  completion of the Initial Term of this Agreement and,
in addition,  and if this Agreement had then been  previously and  automatically
renewed  for a  further  one-month  period  in  accordance  with  section  "3.2"
hereinabove,  until the end of any such further  one-month period in conjunction
with section "3.2".

                                   Article IV
                                   ----------
                         COMPENSATION OF THE CONSULTANT
                         ------------------------------

4.1    Fee.   It is  understood  hereby  that the  Consultant  shall render  the
       ---
General Services as defined  hereinabove  during the Initial Term and during the

<PAGE>

                                       150

continuance  of this  Agreement and shall thus be compensated on a monthly basis
by the Company from the Effective Date of this  Agreement to the  termination of
the same by way of the  payment  by the  Company  to the  Consultant,  or to the
further order or direction of the Consultant as the Consultant may determine, in
the Consultant's sole and absolute  discretion,  and advise the Company of prior
to such payment,  of a monthly fee of U.S. $10,000.00 (the "Fee"), with such Fee
being due and payable by the Company to the Consultant,  or to the further order
or  direction  of  the  Consultant  as  the  Consultant  may  determine,  in the
Consultant's  sole and absolute  discretion,  and advise the Company of prior to
such payment,  on the first business day of the month following the then monthly
period of service  during the Initial  Term and during the  continuance  of this
Agreement.  In this regard,  and for the purposes of  evidencing  the  Company's
ongoing  commitment to compensate the Consultant  together with the Consultant's
ongoing commitment to perform the General Services  faithfully,  diligently,  to
the best of the Consultant's  abilities and in the best interests of the Company
during the Initial  Term and during the  continuance  of this  Agreement,  it is
hereby acknowledged and agreed that the Company shall provide the Consultant, in
the manner  aforesaid,  with the initial month's payment for the Initial Term of
this  Agreement on the first  business day following the Effective  Date of this
Agreement.

4.2    Reimbursement  of Expenses.   It  is  also  understood  hereby  that  the
       --------------------------
Consultant  shall also be reimbursed for all  pre-approved,  in writing,  direct
reasonable  expenses  actually and properly  incurred by the  Consultant for the
benefit of the Company (collectively, the "Expenses"), which Expenses have first
been approved by the Board of Directors of the Company,  and which Expenses,  it
is hereby acknowledged and agreed, shall be payable by the Company to the order,
direction  and account of the  Consultant  as the  Consultant  may  designate in
writing, from time to time, in the Consultant's sole and absolute discretion, as
soon as  conveniently  possible  after the prior  delivery by the  Consultant of
written substantiation on account of each such reimbursable Expense.

                                    Article V
                                    ---------
                    FINANCING COMPENSATION OF THE CONSULTANT
                    ----------------------------------------

5.1    Finder's Fee to the Consultant During First Twelve Months.  For the first
       ---------------------------------------------------------
twelve months from the Effective Date of this Agreement,  and subject to section
"5.3" hereinbelow,  a finder's fee (the "Finder's Fee") shall be due and payable
by the  Company  to the  Consultant  in  conjunction  with the due and  complete
closing of any and all Proposed  Transactions  (each such  Proposed  Transaction
then being a "Completed Transaction") which were negotiated by the Consultant on
behalf of the Company,  and which were  accepted by the Company,  in  connection
with  any  Potential  Project  Investors  which  were  initially  contacted  and
introduced by the  Consultant  directly or indirectly to the Company  during the
first twelve months from the Effective Date of this  Agreement,  of an aggregate
of two percent  (2%) in cash and two  percent  (2%) in  securities,  on the same
terms as the Completed  Transaction,  of all of the Potential Project Investors'
contracted for financing,  acquisition and/or development costs and requirements
associated  with  any  Completed  Transaction  with the  Company,  with any such
Finder's Fee being due and payable by the Company to the  Consultant,  or to the
further order or direction of the Consultant as the Consultant may determine, in
the Consultant's sole and absolute  discretion,  and advise the Company of prior

<PAGE>

                                       151

to any such  payment,  within 10 business days of any payment or incurrence by a
Potential Project Investor of any financing and/or earn-in costs associated with
any such Completed Transaction.

5.2   Compensation  payable after the First  Twelve Month Period.   It is hereby
      ----------------------------------------------------------
also  acknowledged  and agreed by the Parties hereto that after the first twelve
months from the Effective Date of this  Agreement,  and subject to section "5.3"
hereinbelow,  any Finder's Fee described under section "5.1" hereinabove will be
reduced to an  aggregate  of one percent  (1%) in cash and one  percent  (1%) in
securities,  on the same terms as the Completed  Transaction,  and will still be
due and payable to the Consultant by the Company,  in the manner as set forth in
section  "5.1"  hereinabove,  in the  event  that any  Proposed  Transaction  is
successfully  closed as a Completed  Transaction  after the first twelve  months
from the Effective  Date of this Agreement  provided that the Potential  Project
Investor who is the subject of the Completed Transaction was initially contacted
and introduced by the Consultant directly or indirectly to the Company.

5.3   Existing Potential  Project  Investors  and   non-exclusivity.   Upon  the
      -------------------------------------------------------------
execution of this Agreement the Consultant  acknowledges and agrees that certain
Potential  Project  Investors  have  already  been in contact  with the Company,
either  directly  or  indirectly,   regarding  a  Proposed   Transaction,   and,
furthermore,  that the Company may,  during the Initial Term and the continuance
of this  Agreement,  continue  to approach  other  Potential  Project  Investors
regarding  a  Proposed  Transaction  without  any  participation  therein by the
Consultant.  Correspondingly,  and in the event  that  there is a  closing  of a
Completed  Transaction  with any such  Potential  Project  Investor  during  the
Initial Term and during the  continuance of this Agreement  where said Completed
Transaction  is not a direct  result  of the  introduction  and  efforts  of the
Consultant on behalf of the Company as set forth and required hereinabove, it is
hereby also acknowledged and agreed that no Finder's Fee whatsoever shall be due
and payable by the Company to the Consultant on the due and complete  closing of
any such Completed Transaction with any such Potential Project Investor.

5.4    Fees to other parties.  If the Company  agrees to pay a commission or fee
       ---------------------
related to a Completed  Transaction to anyone else, such commission or fee shall
not reduce  the  Finder's  Fee which may also be  payable by the  Company to the
Consultant in accordance with the terms of this Agreement.

5.5    No other fees.   The  Consultant  hereby  covenants and  agrees  with the
       -------------
Company that, to the best of the Consultant's knowledge, information and belief,
having made due  enquiry,  no other  finder's  fee or  commission  is or will be
payable  by the  Company to any other  party in  connection  with any  Completed
Transaction hereunder.

<PAGE>

                                       152

                                   Article VI
                                   ----------
                    ADDITIONAL OBLIGATIONS OF THE CONSULTANT
                    ----------------------------------------

6.1    Confidentiality.    The  Consultant  will not, except  as  authorized  or
       ---------------
required by the Consultant's  duties hereunder,  reveal or divulge to any person
or companies any information  concerning the organization,  business,  finances,
transactions  or other  affairs of the Company,  or of any of its  subsidiaries,
which may come to the Consultant's  knowledge during the Initial Term and during
the  continuance of this  Agreement,  and the  Consultant  will keep in complete
secrecy all  confidential  information  entrusted to the Consultant and will not
use or attempt  to use any such  information  in any manner  which may injure or
cause loss either directly or indirectly to the Company's respective businesses.
This  restriction will continue to apply after the termination of this Agreement
without  limit  in point of time  but  will  cease  to apply to  information  or
knowledge which may come into the public domain.

6.2    Compliance with applicable laws.   The  Consultant  will  comply with all
       -------------------------------
Canadian,  U.S.  and  foreign  laws,  whether  federal,   provincial  or  state,
applicable  to the  Consultant's  duties  hereunder  and,  in  addition,  hereby
represents and warrants that any information which the Consultant may provide to
any person or company hereunder will, to the best of the Consultant's knowledge,
information  and belief,  be accurate and complete in all material  respects and
not misleading,  and will not omit to state any fact or information  which would
be material to such person or company.

6.3    Opinions,  reports  and  advice  of  the  Consultant.    The   Consultant
       ----------------------------------------------------
acknowledges and agrees that all written and oral opinions,  reports, advice and
materials  provided  by the  Consultant  to the Company in  connection  with the
Consultant's  engagement hereunder are intended solely for the Company's benefit
and for the  Company's  use only,  and that any such written and oral  opinions,
reports,  advice and information are the exclusive  property of the Company.  In
this regard the Consultant covenants and agrees that the Company may utilize any
such opinion, report, advice and materials for any other purpose whatsoever and,
furthermore, may reproduce, disseminate, quote from and refer to, in whole or in
part,  at any time and in any  manner,  any such  opinion,  report,  advice  and
materials in the Company's sole and absolute discretion.  The Consultant further
covenants and agrees that no public  references to the  Consultant or disclosure
of the  Consultant's  role in respect of the  Company be made by the  Consultant
without the prior written consent of the Company in each specific  instance and,
furthermore, that any such written opinions, reports, advice or materials shall,
unless otherwise  required by the Company,  be provided by the Consultant to the
Company in a form and with such substance as would be acceptable for filing with
and approval by any Regulatory Authority having jurisdiction over the affairs of
the Company from time to time.

<PAGE>

                                       153

                                   Article VII
                                   -----------
                           REPORTING BY THE CONSULTANT
                           ---------------------------

7.1    Reporting.   At least once in every month, or so often as may be required
       ---------
by the  Company,  the  Consultant  will  provide the Board of  Directors  of the
Company with such information concerning the results of the Consultant's General
Services  and  activities  hereunder  for the  previous  month  as the  Board of
Directors  of the Company may  reasonably  require.  In  addition,  it is hereby
further  acknowledged  and reaffirmed that any written  information or materials
provided by the Consultant to any person or company hereunder will be subject to
the prior  review,  approval  and  direction  of the Board of  Directors  of the
Company.

                                  Article VIII
                                  ------------
                      INDEMNIFICATION AND LEGAL PROCEEDINGS
                      -------------------------------------

8.1   Indemnification.  The Parties hereto agree to indemnify  and save harmless
      ---------------
the other Party hereto, including its respective affiliates and their respective
directors, officers, employees and agents (each such party being an "Indemnified
Party") harmless from and against any and all losses,  claims,  actions,  suits,
proceedings,  damages,  liabilities  or  expenses  of  whatever  nature or kind,
including any investigation expenses incurred by any Indemnified Party, to which
an Indemnified Party may become subject by reason of the terms and conditions of
this Agreement.

8.2   No indemnification.   This indemnity  will  not  apply  in  respect  of an
      ------------------
Indemnified  Party in the  event  and to the  extent  that a court of  competent
jurisdiction in a final judgment shall determine that the Indemnified  Party was
grossly negligent or guilty of willful misconduct.

8.3    Claim of indemnification.   The  Parties  hereto agree to waive any right
       ------------------------
they might have of first requiring the  Indemnified  Party to proceed against or
enforce any other right, power, remedy, security or claim payment from any other
person before claiming this indemnity.

8.4    Notice of claim.   In case any action  is brought  against an Indemnified
       ---------------
Party in respect of which  indemnity  may be sought  against  any of the Parties
hereto, the Indemnified Party will give the relevant Party hereto prompt written
notice of any such action of which the Indemnified  Party has knowledge and such
Party will  undertake  the  investigation  and defense  thereof on behalf of the
Indemnified Party,  including the prompt Consulting of counsel acceptable to the
Indemnified  Party  affected  and the  payment of all  expenses.  Failure by the
Indemnified  Party to so notify  shall  not  relieve  any  Party  hereto of such
Party's obligation of  indemnification  hereunder unless (and only to the extent
that) such failure  results in a forfeiture  by any Party hereto of  substantive
rights or defenses.

<PAGE>

                                       154

8.5    Settlement.   No admission  of liability and  no settlement of any action
       ----------
shall be made without the consent of each of the Parties  hereto and the consent
of the Indemnified Party affected, such consent not to be unreasonable withheld.

8.6   Legal proceedings.   Notwithstanding  that the relevant  Party hereto will
      -----------------
undertake the investigation and defense of any action, an Indemnified Party will
have the right to employ separate  counsel in any such action and participate in
the defense  thereof,  but the fees and  expenses of such counsel will be at the
expense of the Indemnified Party unless:

     (a)  such counsel has been authorized by the relevant Party hereto;

     (b)  the  relevant  Party  hereto has not assumed the defense of the action
          within a  reasonable  period  of time  after  receiving  notice of the
          action;

     (c)  the named parties to any such action include that any Party hereto and
          the  Indemnified  Party shall have been  advised by counsel that there
          may be a  conflict  of  interest  between  any  Party  hereto  and the
          Indemnified Party; or

     (d)  there are one or more  legal  defenses  available  to the  Indemnified
          Party which are  different  from or in addition to those  available to
          any Party hereto.

8.7    Contribution.   If for any reason other than the gross negligence  or bad
       ------------
faith of the  Indemnified  Party  being  the  primary  cause of the loss  claim,
damage, liability, cost or expense, the foregoing indemnification is unavailable
to the Indemnified  Party or  insufficient  to hold them harmless,  the relevant
Party hereto shall  contribute to the amount paid or payable by the  Indemnified
Party as a result of any and all such losses,  claim,  damages or liabilities in
such  proportion  as is  appropriate  to reflect not only the relative  benefits
received by any Party  hereto on the one hand and the  Indemnified  Party on the
other,  but  also  the  relative  fault  of  the  Parties  and  other  equitable
considerations  which  may  be  relevant.  Notwithstanding  the  foregoing,  the
relevant  Party  hereto  shall in any event  contribute  to the  amount  paid or
payable  by the  Indemnified  Party,  as a result  of the loss,  claim,  damage,
liability, cost or expense (other than a loss, claim, damage, liability, cost or
expenses, the primary cause of which is the gross negligence or bad faith of the
Indemnified  Party),  any  excess  of such  amount  over the  amount of the fees
actually received by the Indemnified Party hereunder.

<PAGE>

                                       155

                                   Article IX
                                   ----------
                                  FORCE MAJEURE
                                  -------------

9.1    Events.    If  either  Party hereto  is at  any time  either  during this
       ------
Agreement or thereafter prevented or delayed in complying with any provisions of
this  Agreement  by  reason  of  strikes,  walk-outs,  labour  shortages,  power
shortages,  fires, wars, acts of God, earthquakes,  storms, floods,  explosions,
accidents,  protests or  demonstrations  by  environmental  lobbyists  or native
rights groups,  delays in transportation,  breakdown of machinery,  inability to
obtain  necessary  materials in the open market,  unavailability  of  equipment,
governmental  regulations restricting normal operations,  shipping delays or any
other reason or reasons beyond the control of that Party,  then the time limited
for the performance by that Party of its respective  obligations hereunder shall
be  extended  by a period of time  equal in  length  to the  period of each such
prevention or delay.

9.2    Notice.    A Party shall  within  three calendar days  give notice to the
       ------
other Party of each event of force majeure under section "9.1" hereinabove,  and
upon  cessation of such event shall  furnish the other Party with notice of that
event together with  particulars of the number of days by which the  obligations
of that  Party  hereunder  have been  extended  by virtue of such event of force
majeure and all preceding events of force majeure.

                                    Article X
                                    ---------
                                   ARBITRATION
                                   -----------

10.1   Matters for Arbitration.  The Parties agree that all questions or matters
       -----------------------
in dispute with  respect to this  Agreement  shall be  submitted to  arbitration
pursuant to the terms hereof.

10.2   Notice.   It shall be a condition precedent to the  right of any Party to
       ------
submit any matter to  arbitration  pursuant to the provisions  hereof,  that any
Party  intending  to refer any matter to  arbitration  shall have given not less
than five business  days' prior written  notice of its intention to do so to the
other  Party  together  with  particulars  of  the  matter  in  dispute.  On the
expiration of such five business days the Party who gave such notice may proceed
to  refer  the  dispute  to  arbitration  as  provided  for  in  section  "10.3"
hereinbelow.

10.3    Appointments.    The   Party  desiring  arbitration  shall  appoint  one
        ------------
arbitrator, and shall notify the other Party of such appointment,  and the other
Party shall,  within five business days after receiving such notice,  appoint an
arbitrator,  and the two arbitrators so named,  before proceeding to act, shall,
within five business days of the  appointment of the last appointed  arbitrator,
unanimously agree on the appointment of a third arbitrator, to act with them and
be chairman of the  arbitration  herein  provided  for. If the other Party shall
fail to appoint an arbitrator  within five business days after receiving  notice
of the appointment of the first arbitrator, and if the two arbitrators appointed
by the Parties shall be unable to agree on the appointment of the chairman,  the

<PAGE>

                                       156

chairman shall be appointed in accordance  with the  Arbitration  Act. Except as
specifically otherwise provided in this section, the arbitration herein provided
for shall be conducted in accordance with such Arbitration Act. The chairman, or
in the case where only one arbitrator is appointed, the single arbitrator, shall
fix a time and place for the purpose of hearing the evidence and representations
of the Parties,  and he shall  preside over the  arbitration  and  determine all
questions of procedure not provided for by the  Arbitration Act or this section.
After hearing any evidence and representations  that the Parties may submit, the
single arbitrator,  or the arbitrators,  as the case may be, shall make an award
and reduce the same to  writing,  and  deliver  one copy  thereof to each of the
Parties. The expense of the arbitration shall be paid as specified in the award.

10.4     Award.    The  Parties  agree  that  the  award  of a  majority  of the
         -----
arbitrators, or in the case of a single arbitrator, of such arbitrator, shall be
final and binding upon each of them.

                                   Article XI
                                   ----------
                               GENERAL PROVISIONS
                               ------------------

11.1   Entire  Agreement.  This  Agreement constitutes  the entire  agreement to
       -----------------
date  between  the  Parties  hereto and  supersedes  every  previous  agreement,
expectation,  negotiation,  representation  or  understanding,  whether  oral or
written,  express or implied,  statutory or otherwise,  between the Parties with
respect to the subject matter of this Agreement.

11.2   No assignment.  This Agreement may not be assigned by either Party except
       -------------
with the prior written consent of the other Party.

11.3   Notice.  Each notice, demand or other communication required or permitted
       ------
to be given  under  this  Agreement  shall be in  writing  and  shall be sent by
prepaid  registered  mail deposited in a recognized post office and addressed to
the Party  entitled  to receive the same,  or  delivered  to such Party,  at the
address for such Party specified on the front page of this  Agreement.  The date
of receipt of such notice,  demand or other  communication  shall be the date of
delivery  thereof if delivered,  or, if given by  registered  mail as aforesaid,
shall be deemed  conclusively to be the third day after the same shall have been
so mailed,  except in the case of interruption of postal services for any reason
whatsoever,  in which  case the date of  receipt  shall be the date on which the
notice,  demand or other  communication  is actually  received by the addressee.
Either  Party may at any time and from time to time  notify  the other  Party in
writing of a change of address  and the new  address  to which  notice  shall be
given to it thereafter until further change.

11.4   Time of the essence.   Time will be of the essence of this Agreement.
       -------------------

<PAGE>

                                       157

11.5   Enurement.   This  Agreement  will enure  to the benefit  of  and will be
       ---------
binding  upon  the  Parties  hereto  and  their  respective  heirs,   executors,
administrators and assigns.

11.6   Currency.  Unless otherwise stipulated, all payments  required to be made
       --------
pursuant to the  provisions of this  Agreement  and all money amount  references
contained herein are in lawful currency of the United States of America.

11.7  Regulatory Authorities.  This Agreement is subject to the prior Regulatory
      ----------------------
Approval, if required, of each of the Regulatory Authorities.

11.8   Further assurances.   The  Parties  will  from  time  to  time  after the
       ------------------
execution of this  Agreement  make,  do,  execute or cause or permit to be made,
done or executed,  all such further and other acts, deeds,  things,  devices and
assurances in law  whatsoever as may be required to carry out the true intention
and to give full force and effect to this Agreement.

11.9   Representation and costs.   It  is  hereby  acknowledged  by  each of the
       ------------------------
Parties  hereto that, as between the Company and the Consultant  herein,  Devlin
Jensen acts solely for the Company,  and that the Consultant has been advised by
both  Devlin  Jensen and the  Company to obtain  independent  legal  advice with
respect to the Consultant's review and execution of this Agreement. In addition,
it is hereby  further  acknowledged  and agreed by the Parties  hereto that each
Party to this Agreement will bear and pay its own costs, legal and otherwise, in
connection  with  its  respective  preparation,  review  and  execution  of this
Agreement and, in particular, that the costs involved in the preparation of this
Agreement,  and all  documentation  necessarily  incidental  thereto,  by Devlin
Jensen shall be at the cost of the Company.

11.10   Applicable law.   The situs  of  this Agreement  is  Vancouver,  British
        --------------
Columbia,  and for all purposes this Agreement  will be governed  exclusively by
and construed and enforced in accordance with the laws and courts  prevailing in
the Province of British Columbia.

11.11   Severability and construction.   Each Article, section,  paragraph, term
        -----------------------------
and provision of this Agreement,  and any portion  thereof,  shall be considered
severable,  and if, for any reason,  any portion of this Agreement is determined
to be invalid,  contrary to or in conflict with any applicable present or future
law,  rule or  regulation  in a final  unappealable  ruling issued by any court,
agency or tribunal  with valid  jurisdiction  in a proceeding to which any Party
hereto is a party,  that ruling shall not impair the  operation  of, or have any
other effect upon, such other portions of this Agreement as may remain otherwise
intelligible  (all of which shall remain  binding on the Parties and continue to
be given full  force and  effect as of the date upon  which the  ruling  becomes
final).

<PAGE>

                                       158

11.12    Captions.  The captions, section numbers and  Article numbers appearing
         --------
in this Agreement are inserted for convenience of reference only and shall in no
way define,  limit,  construe or describe the scope or intent of this  Agreement
nor in any way affect this Agreement.

11.13   Counterparts.  This Agreement may be signed by the Parties  hereto in as
        ------------
many counterparts as may be necessary,  and via facsimile if necessary,  each of
which so signed being deemed to be an original  and such  counterparts  together
constituting  one and the  same  instrument  and,  notwithstanding  the  date of
execution,  being  deemed to bear the  execution  date as set forth on the front
page of this Agreement.

11.14   No partnership or agency.   The  Parties have not created a  partnership
        ------------------------
and  nothing  contained  in  this  Agreement  shall  in  any  manner  whatsoever
constitute  any Party the partner,  agent or legal  representative  of the other
Party,  nor create  any  fiduciary  relationship  between  them for any  purpose
whatsoever.

11.15   Consents  and  waivers.   No  consent  or waiver expressed or implied by
        ----------------------
either Party in respect of any breach or default by the other in the performance
by such other of its obligations hereunder shall:

     (a)  be valid  unless it is in writing and stated to be a consent or waiver
          pursuant to this section;

     (b)  be  relied  upon as a consent  to or  waiver  of any  other  breach or
          default of the same or any other obligation;

     (c)  constitute a general waiver under this Agreement; or

     (d)  eliminate or modify the need for a specific consent or waiver pursuant
          to this section in any other or subsequent instance.

          IN  WITNESS  WHEREOF  the  Parties  hereto  have  hereunto  set  their
          -------------------
respective hands and seals as at the Effective Date as hereinabove determined.

The CORPORATE SEAL of                       )
SINOVAC BIOTECH LTD.,                       )
---------------------                       )
the Company herein, was hereunto affixed    )
in the presence of:                         )              (C/S)
                                            )
/s/ Weidong Yin                             )
--------------------------------------      )
Authorized Signatory                        )

<PAGE>

                                       159

SIGNED and DELIVERED by                     )
ROBERTE EBRAHIMI,                           )
----------------                            )
the Finder herein, in the presence of:      )
                                            )
                                            )
Witness Signature                           )         /s/ Roberto Ebrahimi
                                            )      --------------------------
                                            )           ROBERTO EBRAHIMI
                                            )
Witness Address                             )
                                            )
                                            )
Witness Name and Occupation                 )

                                   ----------

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