Document:

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                                                                   EXHIBIT 10.23

                                                           [ENGLISH TRANSLATION]

                                 SUPPLY CONTRACT

Party A: Baoding Tianwei Yingli New Energy Resources Co., Ltd.

Party B: Baoding Maike Green Food Co., Ltd.

                                                        Contract No.: YLXF060117
                                                                Dated: 2006-1-17

In accordance with Contract Law of People's Republic of China, Party A and Party
B achieve agreement upon the following provisions concerning packing boxes:

1.   Name, Specification and Unit Price of Products

<TABLE>
<CAPTION>
Name          Specification    Unit Price             Other
----          -------------   ------------   ----------------------
<S>           <C>             <C>            <C>
Packing box   1310*990        RMB17.3/unit   Packing boxes in other
                                             size may be supplied
                                             according to Party A's
                                             requirement.
Packing box   1580*808        RMB17.4/unit
Packing box   Other size
Total         Above prices include 17%
              value added tax.
</TABLE>

Note: Total price shall be determined based on actual quantity ordered by Party
A.

2.   Quality requirements

     Glossy surface without grime; regular and clear words printed thereon; even
     thickness; high rigidity.

3.   Method and Time of Delivery

     Party B shall manufacture products on a timely basis according to demand of
     Party A, arrange shipment within 2 days and transport such products to the
     factory of Party A.

4.   Method of Clearing

     The total price shall be fixed based on actual quantity ordered by Party A.
     Before the 25th day of each month, after Party B shall send formal invoices
     to Party A, Party A shall pay the price for the products by wire transfer
     or check to account specified by Party B.

5.   Breach of Contract

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     In enforcement of this Contract, any loss caused by Party B's failure to
     satisfy Party A's requirement shall be born by Party B. Any dispute arising
     between both parties shall be settled through discussion. In case of
     failure to discuss, such dispute shall be settled by the court in
     jurisdiction where the Contract is signed, decision of which shall be
     final.

6.   This Contract is signed with two originals each of which is held by one
     party. This Contract is effective upon signing and stamping by both
     parties. The facsimile shall have the same legal effect.

7.   Other matter that is not involved in this Contract shall be settled through
     discussion between both parties.

Party B: Baoding Tianwei Yingli New Energy Resources Co., Ltd.
Legal representative:

Representative: /s/ Weichao Sun
                -----------------------------
Tel: 0312-8929866
Fax: 0312-8929800
Bank: Baoding Branch of Commercial and Industrial Bank of China
Account: 0409003809221002578-063
Taxation No.: 130600700921062
Date: 2006-1-17

Party A: Baoding Maike Green Food Co., Ltd.
Legal representative:
Representative: (corporate seal affixed)
Tel: 83360939
Fax: 0312-8335090
Bank: County Branch of Agricultural Bank of China
Account: 555101040002433
Taxation No: 130637721634345
Date: 2006-1-17

                                       2<PAGE>

                                                                   EXHIBIT 10.24

                                                           [English Translation]

                                    AGREEMENT
              Contract No.: FOTIC (Tianwei Yingli) 2006-Q062001001

Party A: Baoding Tianwei Yingli New Energy Resources Co., Ltd.
Address: No.3055, Fuxing Zhong Road, Baoding 071051
Legal representative: DING Qiang
Telephone: 0312-310053
Fax: 0321-3151881
Contact Person: LIU Conghui

Party B: China Foreign Economic and Trade Trust & Investment Co., Ltd.
Address: Suite 808, Sinochem Building, No.2 Fu Xing Men Wai Avenue, Beijing
         100045
Legal representative: FENG Zhibin
Telephone: 010-88078808
Fax: 010-88078841
Contact Person: XU Ying

     WHEREAS, Party A is in the process of pre-listing private placement
financing with international investors, and plans a public offering and overseas
listing of itself or a company invested by itself as the primary investor (the
"Listing Vehicle"). The parties hereby enter into this agreement through
consultation and adhere to it:

     Article 1 Party B shall extend a loan to Party A in the form of trust loan.

     Article 2 The amount of the loan principal under this agreement shall be
RMB Eighty Five Million Six Hundred Thirty Five Thousand Yuan. The actual amount
of the loan principal and the drawdown date shall be in accordance with the Bill
of Loan.

     Article 3 Term of the loan: the term of the loan under this agreement shall
be one year, from May 18th, 2006 to May 17th, 2007.

     Article 4 Share Conversion, Loan Interest and Method of Repayment

     1. If Party A completes equity financing within the term set forth in
Article 3 of this Agreement, subject to all necessary approvals from the Chinese
governmental authorities, Party B is entitled to convert 100% of the loan
principal into the shares of the Listing Vehicle at the conversion price same as
the subscription price adopted by the international investors in the prevailing
private placement financing.

     The share conversion shall be conducted differently in each of the
following two

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situations:

     (1) If Party A gets listed in an overseas market in the form of N shares,
the loan principal shall be directly converted into the shares of Party A held
by Party B directly. Party A undertakes to assist Party B in the relevant
amendment company registration and record Party B on the shareholders register
of Party A after the conversion.

     (2) If Party A gets listed in an overseas market in the form of red-hip
shares, and Party B can't hold shares in foreign companies due to foreign
exchange capital control, Party B shall designate an overseas institute to hold
the shares of the Listing Vehicle. Party A shall be responsible for raising
foreign funds needed for overseas share conversion, which shall be equivalent to
the loan principal (the foreign exchange rate shall be the closing rate at the
foreign exchange market the day before the share subscription).

     Party A shall procure that other shareholders of the Listing Vehicle
consent to and acknowledge the share conversion.

     2. If the Listing Vehicle does not complete the equity financing within the
term set forth in Article 3, Party B has the right to require Party A to repay
the principal and the interests, at the rate of 8% per year, in one lump sum
within five(5) working days after the maturity date of the loan. Considering the
equity financing progress of Party A or the Listing Vehicle, the parties may
agree through consultation to extend the term of the loan. During the extension
period, Party B's right of share conversion shall be in accordance with Section
1 of Article 4 hereof.

     Article 5 Party A promises to retain intermediaries necessary for oversea
listing, including overseas investment banks, overseas counsels, Chinese
counsels and audit firm before May 20, 2005, and officially kick off the work on
May 25, 2005. Party A undertakes to use its best efforts to complete the oversea
listing by the end of 2006, and agrees to, if required by Party B, provide Party
B with timely and accurate information regarding the listing of Party A or the
Listing Vehicle.

     Article 6 This agreement shall become effective after the legal
representatives or authorized representatives of the parties have signed the
agreement and affixed the official seals of the parties hereon.

     Article 7 Any disputes shall be first settled through consultation between
the parties. Should the consultation fail, such disputes shall be submitted to
arbitration where Party B is located.

     Article 8 This agreement shall be executed in four (4) originals, with each
party holding two (2), which shall have equal legal effect.

                             (Signatures to Follow)

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Party A

Legal representative (or authorized proxy): /s/ Qiang Ding
                                            ------------------------------------
(Company Seal)

Party B

Legal representative (or authorized proxy): /s/ Xiaokang Zhang
                                            ------------------------------------
(Company Seal)

                                        3<PAGE>

                                                                   EXHIBIT 10.25

                                                           [English Translation]

                               Repayment Agreement

This Repayment Agreement (this "Agreement") is entered into by and among the
following parties:

Party A: Baoding Tianwei Yingli New Energy Resources Co., Ltd.
Address: No. 3055, Fuxing Zhong Road, Baoding 071051
Legal representative: DING Qiang
Contact Person: LIU Conghui
Telephone: 0312-310053
Fax: 0321-3151881

Party B: China Foreign Economic and Trade Trust & Investment Co., Ltd.
Address: Suite 808, Sinochem Building, No.2 Fuxing Men Wai Avenue, Beijing
100045
Legal representative: FENG Zhibin
Contact Person: ZHANG Kun
Telephone: 010-88078808
Fax: 010-88078841

Party C: Yingli Green Energy Holding Company Limited
Correspondence Address: No.3055, Fuxing Zhong Road, Baoding 071051
Contact Person: LIU Conghui
Telephone: 0312-310053
Fax: 0321-3151881

Party D: China Sunshine Investment Co., Ltd.
Correspondence Address: International Investment Tower, No. 7 Fu Cheng Men Wai
Avenue, Beijing
Contact Person: YANG Jiangquan
Telephone: 010- 68095008
Fax: 010-68095032

WHEREARES, Party A and Party B signed the "(Loan) Agreement" [contract series #:
FOTIC (Tianwei Yingli) 2006--Q062001001] (hereinafter called "Loan Agreement"),
by which Party B extended to Party A a loan with the principal amount of RMB
Eighty Five Million Six Hundred Thirty Five Thousand Yuan (hereinafter called
"Loan") on May 18, 2006.

WHEREARES, through friendly consultation, Party A and Party B agree that Party A
may prepay the Loan on or before December 31, 2006.

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WHEREARES, as Party A's shareholder, Party C agrees to grant Party D a warrant
in relation to Party C's ordinary shares, by which Party D has the right to
purchase Party C's ordinary shares.

NOW, THEREFORE, adhering to the principles of equality and mutual benefit, the
Parties to this Agreement hereby agree as follows:

Article 1  Party A shall repay to Party B on or before December 31, 2006 the
           principal of the Loan at the amount of RMB Eighty Five Million Six
           Hundred Thirty Five Thousand Yuan, and the interests of the Loan at
           the amount of RMB One Million Three Hundred Nineteen Thousand Eight
           Hundred and Ten Yuan (assuming that the repayment occurs on December
           31, 2006 and there are 360 days in a calendar year; in case Party A
           makes the repayment before December 31, 2006, the interests shall be
           adjusted downwards according to the actual calendar days). The total
           amount of the repayment shall be RMB Eighty Nine Million Nine
           Hundred Fifty Four Thousand Eight Hundred and Ten Yuan.

           If Party A fails to make the repayment in accordance with the above
           provision on December 31, 2006, a penalty of 0.05% of the
           outstanding amount shall be paid by Party A to Party B per overdue
           day.

Article 2  On the day that this Agreement is executed, Party C shall grant to
           Party D a Warrant substantially in the form and substance attached
           hereto as Appendix A (the "Warrant"), by which Party D shall be
           entitled to purchase Party C's ordinary shares within forty five
           days after Party A has made repayment in accordance with Article 1
           of this Agreement.

Article 3  Party C acknowledges that Party B and/or Party D have provided Party
           C with relevant documents of Party D ("relevant documents"), and
           there is no need for Party D to provide Party C for the granting of
           the Warrant with any documents other than those listed in this
           Article. For the purpose of this Agreement, the "relevant documents"
           shall refer to:

          (1)  the certificate of incorporation of Party D or any other
               documents evidencing the legal organization of the overseas
               company;

          (2)  The shareholder registration certificate of Party D or other
               documents evidencing the identity of the shareholders of the
               overseas company;

          (3)  The share certificates of Party D;

          (4)  The personal identity certification documents of Party D's
               shareholders, directors and senior management; and

          (5)  A statement signed by Party D substantially in the form and
               substance attached hereto as Appendix B.

          Notwithstanding the above provisions, Party B and Party D acknowledge
          that

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          when Party D exercises its subscription rights in accordance with the
          Warrant, if the fund for the share purchase is from a third party
          company, Party D shall provide Party C with the following documents in
          order to prove the legality of such fund:

          (1)  The certificate of incorporation of such third party company;

          (2)  a list of directors and officers of such third party company;

          (3)  a list of shareholders holding more than 10% shares in such third
               party company, and their personal identity certification
               documents;

          (4)  a brief description of the business of such third party company
               and the audited financial reports of its latest fiscal year; and

          (5)  the contractual documents evidencing the relationship between
               Party D and such third party company in respect of such fund
               (i.e. a loan agreement or an entrusted payment notice).

          If Party D's fund is from other sources, then in order to prove the
          legality of such fund, Party D shall provide Party C with relevant
          evidencing documents to the satisfaction of Party C.

Article 4. Party B and Party D shall jointly guarantee that Party D's purchase
           of Party C's ordinary shares is in compliance with the provisions of
           any applicable laws and regulations.

Article 5. This agreement shall become effective after it is executed by the
           authorized representatives of the Parties hereto. Party A and Party B
           explicitly agree that the Loan Agreement shall be terminated on the
           day when this Agreement becomes effective.

Article 6  In case there are any discrepancies between this Agreement and the
           Loan Agreement, this Agreement shall prevail.

Article 7  This Agreement shall be governed by the laws of the PRC. Any disputes
           arising out or in connection with this Agreement shall be resolved by
           the Parties hereto through consultation. In the event that a
           settlement cannot be reached through consultation, any Party may
           submit such disputes to China International Economic and Trade
           Arbitration Commission for arbitration in Beijing in accordance with
           its then effective arbitration rules. The arbitral award shall be
           final and binding upon the Parties.

Article 8  This Agreement shall be executed in four originals, with each party
           holding one of them, and they shall have the equal legal effect.

                           (Signature Page to Follow)

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IN WITNESS WHEREOF, the following Parties have caused this Agreement to be
executed as of the date first written above:

Baoding Tianwei Yingli New Energy       China Foreign Economic and Trade
Resources Co., Ltd.                     Trust & Investment Co., Ltd.
           (corporate seal)                         (corporate seal)

/s/ Liansheng Miao                      /s/ Mingde Zhang
-------------------------------------   ----------------------------------------
Legal Representative:                   Legal Representative:
(or authorized proxy)                   (or authorized proxy)

Party C: Yingli Green Energy Holding Company Limited
                   (corporate seal)

Authorized Representative: /s/ Liansheng Miao
                           -------------------------------------

Party D: China Sunshine Investment Co., Ltd.
                    (corporate seal)

Authorized Representative: /s/ Jiangquan Yang
                           -------------------------------------

                                       4

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Appendix A

                               Form of the Warrant
                              (provided separately)

                                       5

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Attachment B

                              Form of the Statement

                                    Statement

Baoding Tianwei Yingli New Energy Resources Co., Ltd.:

For the purpose of subscription of the shares issued overseas by Yingli Green
Energy Holding Company Limited ("Yingli Cayman"), the foreign shareholder of
your company, we hereby represent and warrant as follows:

1.   We are a limited liability company duly organized and existing under the
     laws of British Virgin Islands;

2.   Our subscription of the shares issued overseas by Yingli Cayman will not
     conflict with our Articles of Association and any uncompleted commitments
     or obligations of contractual or other nature, or any laws, regulations,
     statutes or government orders that bind upon us;

3.   There is no direct or indirect affiliation or controlling relationship
     between us and China Foreign Economic and Trade Trust & Investment Co., Ltd
     ("FOTIC"), or the entrusted party and beneficiary that provided loans to
     your company through FOTIC. For the purpose of this term, "affiliation or
     controlling relationship" shall refer to the "controlling" relationship
     defined in Article 1 of the "Notice of the State Administration of Foreign
     Exchange on Issues Regarding Foreign Exchange Administration in Financing
     and Returning Investment by Domestic Residents through Overseas Special
     Purpose Enterprises" (Huifa [2005] No.75).

If the foregoing representations and warranties made by us are proved in any
material respects to be incorrect, incomplete, misleading, or inaccurate, we
will indemnify any and all losses that might be incurred thereof to your company
and Yingli Cayman.

The Statement is hereby made.

                                        ----------------------------------------
                                        Luo Ming
                                        On behalf of
                                        China Sunshine Investment Co., Ltd.

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