Document:

English Translation of Guarantee Contract

 Exhibit 4.61 
 English Translation 
 GUARANTEE CONTRACT 
 Contract No.: Y2123007066 
 Guarantor (Party A): China Electrical Equipment Group Co., Ltd. 

 Registered Address: No. 6, Shuige Road, Jiangning Economy & Technology Development Area, Nanjing 
  

			
		  	Zip Code: 211000

 Legal Representative (Principal): Lu Tingxiu 
  

			
	Fax: 52095926	  	Tel: 52095926

 Creditor (Party B): Construction Bank of China, Nanjing Xinjiekou Sub-branch 
 Registered Address: No. 117, Jiangzhong Road, Nanjing 
  

			
		  	Zip Code: 210029

 Principal: Yang Chao 
  

			
	Fax: 84701351	  	Tel: 84701439

 In order to secure the performance of the RMB Loan Contract (No. Y2123007066, hereinafter referred to as
“Main Contract”) signed by CEEG (Nanjing) PV-Tech Co., Ltd. (hereinafter referred to as “Debtor”) and Party B, ensure realization of the creditor’s rights of Party B, Party A hereby agrees to provide the
guarantee of joint and several liabilities for the debts of the Debtor under the Main Contract. Now, therefore, both parties hereby enter into this Contract through negotiation and with the terms and conditions as follows: 
 ARTICLE 1 SCOPE OF GUARANTEE 
 The scope of guarantee hereunder shall
be second of the following options: 
 1st Option: All debts under the Main Contract, including but not limited to all principals, interests (including compound interest and penalty interest), liquidated damages,
compensation, amounts payable by the Debtor to Party B (including but not limited to service charges, telecommunication costs, incidental expenses and bank costs refused by the overseas beneficiaries), as well as costs of enforcement of the
creditor’s rights and the security right (including but not limited to the legal cost, arbitration cost, property preservation cost, traveling cost, enforcement cost, assessment cost, auction cost, notarization cost, service cost, public
announcement cost and attorney’s fee, etc). 
  

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 2nd Option: The principal of RMB Fifty Million Yuan and the interests (including compound interest and penalty interest) under the Main Contract, liquidated damages,
compensation, amounts payable by the Debtor to Party B (including but not limited to service charges, telecommunication costs, incidental expenses and bank costs refused by the overseas beneficiaries), as well as costs of enforcement of the
creditor’s rights and the security right (including but not limited to the legal cost, arbitration cost, property preservation cost, traveling cost, enforcement cost, assessment cost, auction cost, notarization cost, service cost, public
announcement cost and attorney’s fee, etc). 
 ARTICLE 2 FORM OF GUARANTEE 
 The guarantee under this Contract is a guarantee with joint and several liability. 
 ARTICLE 3 TERM OF GUARANTEE 

 The term of guarantee provided hereunder shall be as from the effective date of this Contract and within two years from the due date of the debts specified
in the Main Contract. Should Party A accept the extension of the term of debts, the term of guarantee shall be extended to two years beginning from the termination of the extended term of performance of the indebtedness as specified in the extension
agreement. Should Party B declare pre-maturity of the indebtedness under the Main Contract, the guarantee shall be effective until two years beginning from the date of pre-maturity of the indebtedness. Where the debts are to be performed in
installments under the Main Contract, the guarantee for each installment of debt shall be effective till a period of two years beginning from the expiry date of the last installment of debt. 
 ARTICLE 4 INDEPENDENCE OF GUARANTEE CONTRACT 
 This Contract is
independent from the Main Contract, and inexistence, ineffectiveness, whole or part invalidity, cancellation or termination of the Main Contract will not affect the effectiveness of this Contract. Where the Main Contract is held as inexistence,
ineffectiveness, whole or part invalidity, cancellation or termination, Party A shall also be jointly and severally liable for the obligations resulted from returning the property or indemnity of losses by the Debtor. 
  

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 ARTICLE 5 CHANGE TO THE MAIN CONTRACT 
 5.1 Where Party B and the Debtor agree to amend the Main Contract (including but not limited to any amendment to the currency of repayment, method of repayment, loan account number, repayment account number,
withdrawal schedule, repayment schedule, interest commencement date, interest settlement date, change to the effective date or expiration date of the debts without extension of the term of debts), Party A shall agree to the undertake the guarantee
with joint and several liabilities against the debts under the amended Main Contract. 
 Where Party B and the Debtor agree to extend the term of debts or
increase the amount of the principal of loans without the prior consent of Party A, Party A shall undertake the guarantee with joint and several liabilities against the debt under the Main Contract before such amendment. 
 5.2 Party A’s liabilities of guarantee will no be reduced or exempted upon occurrence of any of the following circumstances: 
 5.2.1 Restructuring, merger, consolidation, division, increase or reduction of capital, joint venture, association or change of name of Party B or the Debtor; or

 5.2.2 Party B subcontracts any third party to perform its obligations under the Main Contract. 
 5.3 Ineffectiveness, invalidity, cancellation or termination of assignment of any creditor’s right or debt under the Main Contract will not release Party A from the
guarantee of joint and several liabilities to Party B hereunder. 
 ARTICLE 6 GUARANTEE LIABILITY 
 6.1 When the debts under the Main Contract is due or Party B declare pre-maturity of the indebtedness according to the Main Contract or the law, and the Debtor fails to
timely or fully discharge the debts or the Debtor violates any other provision of the Main Contract, Party A shall immediately perform its obligations within the scope of guarantee specified herein. 
 6.2 Notwithstanding any other security for the creditor’s rights of Party B under the Main Contract (including but not limited to guarantee, mortgage, pledge,
letter of guarantee, standby letter of credit or otherwise), notwithstanding the effectiveness or validity of such other security and notwithstanding any claim of Party B to any other person providing such other security, whether any third party
agrees to assume all or part of debts under the Main Contract and whether such other security is provided by the Debtor or not, Party A’s guarantee liabilities hereunder will not be reduced or exempted. Party B may directly demand Party A to
assume the liabilities within the scope of guarantee specified herein and Party A will not make any objection. 
 6.3 Where Party A only provides the
guarantee for part of debts under the Main Contract, Party A hereby agrees that Party A shall assume its liabilities for those outstanding debts within the scope of guarantee specified herein, even if any part of debts under the Main Contract is
discharged due to discharge of the Debtor, realization of any other security right by Party B or any other reason. 
  

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 6.4 Where Party A only provides the guarantee for part of debts under the Main Contract and the debts under the Main
Contract are not fully discharged after Party A has discharged its liabilities of guarantee hereunder, Party A hereby undertakes that its claim (or exercise in advance) of subrogation or recourse against the Debtor or any other person providing the
security will not impair the interests of Party B, and agrees that the discharge of the debts under the Main Contract shall be prior to the enforcement of Party A’s subrogation or recourse. 
 To put it more specific, prior to the full realization of Party B’s creditor’s rights: 
 6.4.1 Party A undertakes that it will not claim its subrogation or recourse against the Debtor or any other person providing the security; where Party A has realized such right due to whatever cause, the amounts
obtained therefrom shall be in priority used to discharge the outstanding debts owing to Party B; 
 6.4.2 Where any real security is provided for the debts
under the Main Contract, Party A undertakes that it will not claim against such real security or the proceeds from disposition of such real security by exercise of its subrogation or any other reason, and such real security and the proceeds from
disposition of the same shall be in priority used to discharge the outstanding debts owing to Party B; and 
 6.4.3 Where the Debtor or any other person
providing security provides any countersecurity to Party A, Party A undertakes that all amounts obtained from such countersecurity shall be in priority used to discharge the outstanding debts owing to Party B. 
 6.5 Party A has fully understood the risk of interest rate. Where Party B adjusts the interest rate or the method of calculation or settlement of interests according to
the Main Contract or any change to the national policy of interest rate, and such adjustment causes the increase of interest, penalty interest or compound interest to be paid by the Debtor, Party A shall also be jointly and severally liable for the
increased part. 
 6.6 Where the Debtor owes any other due debt to Party B in addition to the debts under the Main Contract, Party B may directly deduct an
amount in RMB or any other currency from any account opened by the Debtor with the business system of the Construction Bank of China to discharge any due debt, and Party A’s liabilities of guarantee will not be reduced or exempted therefor.

 ARTICLE 7 OTHER OBLIGATIONS OF PARTY A 
 7.1 Party A
shall supervise over application (and usage) of the loan by the Debtor and accept the supervision from Party B over Party A’s funds, assets and operation status; upon request of Party B, shall provide the financial statements and other relevant
information, documents and materials, and shall ensure the accuracy, trueness, completeness and validity of such information, documents and materials; without written consent of Party B, Party A may not provide any security to any third party beyond
its capacity of liquidity. 
  

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 7.2 In the event of contracting, trust (or receivership), lease, restructuring, reduction of registered capital,
investment, association, merger, consolidation, acquisition, division, joint venture, voluntary or involuntary close-down for rectification, voluntary dissolution, voluntary or involuntary bankrupt, change of controlling shareholder or actual
controller, assignment of material assets, stoppage of production, shutdown, huge fine imposed by the authority, revocation or suspension of business license, material legal dispute, serious difficulty in business operation or deterioration of
financial status, inability of legal representative or principal in performance of duties, or loss or possible loss of ability of security due to any other reason, Party A shall immediately send a written notice to Party B and shall assume, transfer
or succeed the liabilities of guarantee hereunder according to the request of Party B, or provide another security accepted by Party B to secure the performance of the Main Contract. 
 7.3. In the event of any change to the name, legal representative (or principal), registered address, scope of business, registered capital or articles of association of Party A or any other particulars registered
with the administration for industry and commerce, it shall send a written notice to Party B within three business days after such change, together with the relevant materials after such change. 
 ARTICLE 8 MISCELLANEOUS 
 8.1 Deduction of Account Payable 

With respect to the amount of account payable by the Party A hereunder, Party B may directly deduct an equivalent amount in RMB or any other currency from any account
opened by Party A with the business system of the Construction Bank of China, without notice to Party A in advance. If it is necessary to go through the formalities for settlement or sale of exchange or transaction of exchange, Party A shall provide
assistance to Party B and the risk of exchange rate shall be borne by Party A. 
 8.2 Use of Party A’s Information 
 Party A hereby agrees that Party B may inquire Party A's credit status from the credit information database or any relevant unit or department approved by the
People’s Bank of China and the credit information authority, and Party B may provide Party A’s information to the credit information database approved by the People’s Bank of China and the credit information authority. Party A further
agrees that Party B may use and disclose Party A’s information to the reasonable extent according to the business demand. 
 8.3 Public Announcement for
Reminder 
 Where Party A violates this Contract, Party B may report it to the relevant department or unit, or issue an announcement on the public media.

  

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 8.4 Evidentiary Effect of Party B’s Record 
 Unless it is otherwise proven by reliable and conclusive evidence, Party B’s internal accounting records relating to the principal, interest, cost and repayment, and the documents and vouchers produced or kept by
Party B relating to withdrawal, repayment, payment of interest by the Debtor, as well as the records or vouchers relating to Party B’s reminder of the loan shall be deemed as the valid and conclusive evidence to prove the credits and debts
under the Main Contract. Party A may not make any objection due to the reason that such records, notes, documents or vouchers are produced or kept by Party B. 
 8.5 Reservation of Rights 
 Rights of Party B hereunder will not affect or preclude any other rights under the applicable laws, regulations and
other contracts. Any toleration, extension, preference or delayed exercise of any right hereunder regarding any breach or delay shall not be deemed as waiver of any right or interest hereunder or permission or acceptance of any breach, and will not
affect, preclude or obstruct the further exercise of such right or any other right, and will not cause Party B to assume any obligation and liability to Party A. Failure or delay in exercise of any right or remedy under the Main Contract by Party B
will not reduce or release Party A’s liabilities of guarantee hereunder. However, where Party B reduces or releases the debts under the Main Contract, Party A’s liabilities of guarantee hereunder shall be reduced or released accordingly.

 8.6 Dissolution or Bankrupt of the Debtor 
 When Party A
becomes aware that the Debtor is involved in a proceeding of dissolution or bankrupt, it shall immediately notify Party B to claim its creditor’s rights and timely participate in the proceeding of dissolution or bankrupt, to exercise its
recourse in advance. When Party A becomes aware or should have become aware that the Debtor is involved in a proceeding of dissolution or bankrupt, but it fails to exercise its recourse in advance, all losses and damages resulting therefrom shall be
borne by Party A. Notwithstanding the second sentence of Article 8.5 above, where Party B enters into a settlement with the Debtor during the proceeding of bankrupt of the Debtor, or Party B accepts the restructuring arrangement, Party B’s
rights hereunder will not be prejudiced and Party A’s liabilities of guarantee hereunder will not be reduced or released due to such settlement or restructuring arrangement. Party A may not challenge Party B’s claim with the terms and
conditions of such settlement agreement or restructuring arrangement. Party B may demand Party A to discharge the part of creditor’s rights not discharged due to any compromise made by Party B to the Debtor under such settlement agreement or
restructuring arrangement. 
 8.7 Dissolution or Bankrupt of Party A 
 In the event of dissolution or bankrupt of Party A, even if the creditor’s rights of Party B under the Main Contract are not mature, Party B may participate in Party A’s liquidation or bankrupt proceeding and make a claim.

  

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 8.8 In the event of any change to the mailing address or contact information of Party A, Party A shall immediately send a
written notice to Party B; otherwise, all losses and damages resulting therefrom shall be solely borne by Party A. 
 8.9 Dispute Settlement 
 Any dispute arising from or in connection with performance of this Contract shall be settled by both parties
through friendly negotiations; in case no settlement can be reached through negotiation, the 1st option
listed below shall be referred to for settlement of the dispute: 
 8.9.1 To file an action before the people’s court where Party B resides;

 8.9.2 To submit the dispute to
                     Arbitration Commission (at the place of
                    ) for arbitration in accordance with its then effective arbitration rules. The award rendered thereby shall be final and
binding upon both parties hereto. 
 Provisions of this Contract not involved in the dispute shall be performed during the action or arbitration. 

8.10 Effectiveness 
 This Contract shall become effective upon being
duly executed by the legal representative (or principals) or authorized representative of Party A and the principal or authorized representative of Party B. 
 8.11 This Contract shall be executed in five (5) counterparts. 
 8.12 Other issues agreed by both parties. 
  

			
	  
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 ARTICLE 9 PARTY A’S REPRESENTATIONS AND WARRANTIES 
 9.1 Party A has clearly understood the scope of business and scope of authorities of Party B. 
  

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 9.2 Party A has read all terms and conditions of this Contract and the Main Contract. Upon the request of Party A, Party
B has make explanations to the terms and conditions of this Contract and the Main Contract. Party A has fully known and understood the meaning and legal consequence of all terms and conditions of this Contract and the Main Contract. 
 9.3 Party A has the lawful qualification to act as the guarantor, and provision of the guarantee by Party A hereunder is in full compliance with the applicable laws,
administrative regulations, rules and Party A’s articles or association or internal organization documents, and such action has been approved by Party A’s internal authority organization and/or by the competent government authority. All
liabilities resulting from Party A’s inability to execute this Contract, including but not limited to indemnity for Party B against all losses incurred therefrom, shall be borne by Party A. 
 9.4 Party A hereby confirms that it has fully understood the status of assets, debts, business operation, credit standing and reputation of the Debtor, as well as the
qualification of the Debtor to execute the Main Contract and all contents of the Main Contract. 
 Party A (Seal): China Electrical Equipment Group Co.,
Ltd. (Seal) 
 Legal Representative/Principal (or Authorized Representative) (Signature): /s/ Lu Tingxiu 
 November 15, 2007 
 Party B (Seal): Construction Bank of China,
Nanjing Xinjiekou Sub-branch (Seal) 
 Principal or Authorized Representative (Signature): /s/ Li Fang 
 November 15, 2007 
  

 8English Translation of Guarantee Contract

 Exhibit 4.62 
 English Translation 
 BANK OF SHANGHAI 
 GUARANTEE CONTRACT 
 (APPLICABLE TO INDIVIDUAL GUARANTEE FOR ENTITY)

 Contract No.: B530208001102 
  

											
	Guarantor:	 	Lu Tingxiu	 	Home Tel:	 	  
	 	Mobile Phone:	 	  

							
				
	Place of Permanent Registered Residence:	 	Changzhong City	 	ID Card No.:	 	321124196105293532

							
				
	Actual Living Address:	 	  
	 	Zip Code:	 	  

							
				
	Working unit:	 	China Electrical Equipment Group Co., Ltd.	 	Address:	 	No. 88, Shengtai Road, Jiangning Economy & Technology Development Area, Nanjing

									
					
	Title:	 	Chairman	 	Tel:	 	  
	 	Zip Code:    211100

											
						
	Email:	 	  
	 	Website:	 	  
	 	Fax:	 	  

  

											
	Creditor:    Bank of Shanghai, Nanjing Branch	 	Tel:	 	    86896810	 	Fax:	 	86896810
				
	Principal Office:	 	Peace Mansion, No. 22, Beijing Road (East), Nanjing	 	Zip Code:	 	210008

							
			
	Legal Representative (Principal):    Xu Jianhua	 	Fax:	 	  

									
					
	Authorized Representative):	 	  
	 		 	Fax:	 	  

							
				
	Email:	 	  
	 	Website:	 	  

  

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 This Contract is entered into by and among the Creditor, the Guarantor and Co-guarantors through friendly negotiation and
in accordance with the Guaranty Law of the People’s Republic of China and other applicable laws, regulations and rules, with the following terms and conditions: 
 (Notes: For the purpose of this Contract, “ ̈” represents for the contents of option; “þ” represents for the selected option;
and “x” represents for the rejected option.) 
 ARTICLE 1 PRINCIPAL CREDITOR’S RIGHT 
 The principal creditor’s right to be secured hereunder is a loan of RMB Thirty Million Yuan Only under the Loan Contract (No. 5302080011) signed by the
Bank of Shanghai Nanjing Branch (“Lender”) and CEEG (Nanjing) PV-Tech Co., Ltd. (“Borrower”). 
 ARTICLE 2
TERM FOR PERFORMANCE OF OBLIGATION BY THE BORROWER 
 The term of the debt owed by the Borrower is from February 2, 2008 to August 1, 2008. In
case of any inconsistence between the debt term mentioned herein and the debt term indicated on the loan note, the debt term indicated on the loan note shall prevail. 
 ARTICLE 3 TERM OF GUARANTEE 
 3.1 The term of guarantee provided by the Guarantor hereunder shall be two
(2) years commencing from the due date of the debt owned by the Borrower as mentioned in Article 2 hereof. 
 3.2 Where the principal debt under the
Loan Contract as mentioned in Article 2 hereof is to be repaid in several parts (such as installments) and the due date of each part of such debt is different, the term of guarantee provided by the Guarantor hereunder shall be two (2) years
commencing from the due date of the last installment of the debt (as indicated on the loan note). 
 3.3 Where the Borrower breaches the Loan Contract and
the Lender announces an earlier due date of the Loan, the Guarantor shall perform his obligations of guarantee hereunder in advance accordingly. 
 ARTICLE 4 SCOPE OF GUARANTEE 
 þ The scope of guarantee hereunder shall include all aspects of the
creditor’s right under the Loan Contract as mentioned in Article 1 hereof, including the principal of loan, interest, penalty interest, liquidated damages, indemnity, costs of enforcing the creditor’s right (including but not limited to
the attorney’s fee), as well as
                                        
                    , etc. 
  ̈ The scope of guarantee hereunder shall be
                                        
                    . 
  

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 ARTICLE 5 FORM OF GUARANTEE 
 The guarantee provided hereunder is a guarantee with joint and several. 
 ARTICLE 6 NOTARIZATION 
 If the Creditor considers it is necessary, the Guarantor shall go through the formalities for notarization of this Contract together with the Creditor, and the cost of
notarization shall be borne by the Guarantor. 
 ARTICLE 7 WARRANTIES OF THE GUARANTOR 
 7.1 The Guarantor has fully understood all contents of the Loan Contract as mentioned in Article 1 hereof, and is willing to provide the guarantee with joint and several liabilities to the Creditor for the benefits of
the Borrower. 
 7.2 The Guarantor is a natural person has full capacity for civil action to execute and perform this Contract. 
 7.3 All certificates, documents and materials provided by the Guarantor to the Creditor are true, lawful, complete and valid. 
 7.4 Execution and performance of this Contract by the Guarantor will not conflict with the execution and performance of any other contract. 
 7.5 The Guarantor has not concealed any serious disease, material debt, pending mediation, arbitration, action, claim, enforcement or any other event which may endanger
the rights and interests of the Creditor. 
 ARTICLE 8 UNDERTAKINGS OF THE GUARANTOR 
 8.1 The Guarantor will accept and cooperate with the Creditor in the review on his qualification of guarantee, ability of repayment, credit status and investment status. 
 8.2 The Guarantor will provide the Creditor with all materials regarding his credit status, including but not limited to the return of individual income tax, deposit
certificate and individual credit report, upon request of the Creditor. 
 8.3 The liabilities of guarantee provided by the Guarantor hereunder will not be
affected by the Guarantor’s promotion or demotion, change of his working place or working unit or any other similar event after execution of this Contract. 
 8.4 This Contract will not be terminated or adversely affected due to the death of the Guarantor. The Guarantor hereby agrees to assume his liabilities of guarantee with all his estate, and the estate administrator and successors shall be
fully bound by this Contract. 
  

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 8.5 In case that the Guarantor becomes aware that the Borrower is doing any act which may impair the rights and interests
of the Creditor, the Guarantor shall immediately send a written notice to the Creditor; In case of any event which may affect the Guarantor’s liabilities of guarantee, the Guarantor shall immediately send a written notice to the Creditor and
take effective remedies. 
 8.6 In case that the Borrower fails to use the loan for the purpose as specified in the Loan Contract, the Guarantor shall still
be subject to the liabilities of guarantee hereunder. 
 8.7 During the term of this Contract, the Guarantor and any co-guarantor (including any co-owns who
owns or may own any property of the Guarantor based on the marriage or family relationship), who may affect the right of the Guarantor in disposition of his properties, may not intentionally transfer or destroy his properties. 
 8.8 In case that the Lender and the Borrower enter into an arrangement of extension of the loan period or revolving loans under the Loan Contract as mentioned in Article
1 hereof, the Guarantor shall still be subject to the guarantee with joint and several liabilities for the extended or revolving loans. 
 8.9 Without the
written consent of the Creditor, the Guarantor may not provide any security to any third party. 
 8.10 In the event of any change to the Guarantor’s
personal information, such as place of permanent registered residence, actual living address, contact information, working unit, address of working place, title, business nature of the working unit or otherwise, the Guarantor shall send a written
notice to the Creditor no later than the date next to the date of such change, together with the relevant materials. 
 ARTICLE 9 WARRANTIES AND
UNDERTAKINGS OF THE CO-GUARANTOR 
 9.1 The co-guarantor has fully understood all contents of the Loan Contract as mentioned in Article 1 hereof, and is
willing to provide the guarantee with joint and several liabilities to the Creditor for the benefits of the Borrower. 
 9.2 The co-guarantor has fully
understood all contents of this Contract, and is willing to provide the guarantee of joint and several liabilities to the Creditor for the benefits of the Borrower. 
 9.3 The co-guarantor agrees to perform the obligations of guarantee as the co-guarantor with the joint and several liabilities. 
  

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 ARTICLE 10 DEDUCTION 
 When the debt is due or the Creditor announces an earlier due date in case of default by the Borrower, the Creditor may claim the payment of the debt against the Guarantor according to the laws and directly deduct the amount from the RMB or
foreign currency account opened by the Guarantor with Bank of Shanghai (including all branches and sub-branches), and the Guarantor shall unconditionally waive all defenses therefor. 
 ARTICLE 11 NO WAIVER 
 Unless it is waived in written forms, failure or delay in exercise of all or part of rights, or
release or extension of any condition or procedure of the guarantee by the Creditor shall not be deemed as waiver of such rights. 
 ARTICLE 12
RESTRICTION ON RECOURSE 
 Before the debt under the Loan Contract is fully discharged by the Borrower, The Guarantor shall not exercise its recourse
against the Borrower, even if the Guarantor has discharged part of the debt for the benefits of the Borrower. 
 ARTICLE 13 EFFECTIVENESS 

13.1 This Contract shall become effective upon the date when the Contract is executed or sealed by the Guarantor, co-guarantors and by the legal representative (or
principal) or authorized representative of the Creditor with the corporate seal (including the special seal for credit loan contract) affixed hereto. 
 13.2
The invalidity or partly invalidity of the Loan Contract as mentioned in Article 1 hereof will not affect the validity of this Contract. The Guarantor shall be jointly and severally liable for the civil liabilities of the Borrower due to invalidity
or partly invalidity of the Loan Contract. 
 13.3 In case that the debt under the Loan Contract is discharged and such discharge is held as invalid
according to the applicable laws and administrative regulations, the Guarantor shall still be subject to the liabilities of guarantee and such liabilities will not be restricted by the term of guarantee and the limitation of actions. 
 ARTICLE 14 AMENDMENT AND TERMINATION 
 14.1 Any amendment or
supplementation to this Contract or any part hereof shall be mutually negotiated by both parties and be set forth in the written supplementary agreements. 
 14.2 Any document releasing or reducing the liabilities of the guarantee of the Guarantor shall not come into affect until such document is executed or sealed by the Guarantor, co-guarantors, and the legal representative (or principal) of
the Creditor, with the corporate seal. 
  

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 ARTICLE 15 CHANGE OR ASSIGNMENT OF THE MAIN CONTRACT 
 15.1 During the term of guarantee, if the Lender and the Borrower change the amount, currency or interest rate as specified in the Loan Contract without the consent of the Guarantor, the Guarantor shall still be
subject to the liabilities of guarantee for the changed contract, where the debt of the Borrower is reduced; or the Guarantor shall not be subject to the liabilities of guarantee for the increased part of debt, where the debt of the Borrower is
increased. Where the term of Loan Contract is changed by the Lender and the Borrower, the term of guarantee shall be changed accordingly. 
 15.2 During the
term of guarantee, where the Creditor assigns all or part of the creditor’s rights under the Loan Contract to any third party according to the law and notifies the Guarantor of such event, the guarantee right shall be assigned concurrently and
the Guarantor shall be jointly and severally liable for the guarantee to the Assignee within the scope of guarantee specified herein. 
 ARTICLE 16
DISPUTE SETTLEMENT 
 16.1 Any dispute arising from the performance of this Contract may be settled through friendly negotiations between both parties
hereto; or either party hereto may file an action with a competent people’s court where the Creditor is located. During the course of dispute, the parties concerned shall continue to perform the terms that are not involved in the dispute.

 16.2 Where this Contract is compulsorily notarized, the Creditor may directly enforce its creditor’s right against the Guarantor according to the
laws when the loan is due or the Creditor announces an earlier due date of the loan due to breach of the Borrower. 
 ARTICLE 17 SUPPLEMENTARY ARTICLES

  

			
	  
	 	
	  
	 	
	  
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 ARTICLE 18 REMINDER 
 The Creditor has asked the Guarantor to pay attention to the terms and conditions of this Contract regarding the release of or restriction on the obligations and liabilities of the Creditor. 
 ARTICLE 19 NOTICE 
 19.1 All notices between both parties shall be in
written forms and sent to the address of principal business office or actual residential place of both parties as mention first above. 
 19.2 A notice shall
be deemed as duly delivered on the following date, if it is duly sent to the address mentioned above: the date indicated in the postmark, if it is sent by registered mail; or the date of receipt, if it is sent by personal delivery. 
  

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 ARTICLE 20 ISSUES NOT COVERED HEREUNDER 
 Any issue not covered hereunder shall be subject to the applicable laws, regulations, rules and relevant stipulations of the People’s Republic of China. 
 ARTICLE 21 COUNTERPARTS 
 This Contract shall be made and executed in
three (3) originals, one for the Creditor, one for the Guarantor and              for the notarization office or any other institution. The number of counterparts is to be
determined in light of the demand. 
 Creditor: (Seal) Bank of Shanghai, Nanjing Branch  
 Legal Representative (or Principal) or Authorized Representative: /s/ Xu Jianhua      
 Date: February 2, 2008 
 Signed at: Nanjing 

Guarantor: /s/ Lu Tingxiu (Signature) 
 Guarantor:
                                 (Personal Seal) 
 Date: February 2, 2008 
 Signed at: Nanjing 

 

											
	Co-Guarantor:	  	                                  
	  	(Signature)	 	Co-Guarantor:	  	                                  
	  	(Signature)
						
		  	  
	  	(Personal Seal)	 		  	  
	  	(Personal Seal)

											
						
	Date:	  	  
	  		  	Date:	  	  
	  	

											
						
	Signed at:	  	  
	  		  	Signed at:	  	  
	  	

  

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