Document:

Stock Right Transfer Agreement

 Exhibit 10.4 
 Date: Oct. 18, 2004 
  

 Shenyang Maryland International Industrial Co., Ltd 
 Stock Right Transfer Agreement

  

 Contents 
  

					
	 Article I
	  	Transfer Stock Right	  	3
			
	 Article II
	  	Stock Right Transfer Consideration and Payment Mode	  	4
			
	 Article III
	  	Delivery Date of Transferring Stock Right and Mode	  	4
			
	 Article IV
	  	The Entitlement and Obligation of Transferee in Company Constitution	  	5
			
	 Article V
	  	Proclamation, Pledge and Promise of Transferor	  	5
			
	 Article VI
	  	Proclamation, Pledge and Promise of Transferee	  	6
			
	 Article VII
	  	Become Effective for the Agreement	  	7
			
	 Article VIII
	  	Termination of the Agreement	  	7
			
	 Article IX
	  	Responsibilities after the Agreement Terminated	  	7
			
	 Article X
	  	Liabilities for Breach of Contract	  	7
			
	 Article XI
	  	Force Majeure	  	8
			
	 Article XII
	  	Applicable Law	  	8
			
	 Article XIII
	  	Settlement of Disputation	  	8
			
	 Article XIV
	  	Time & Place for Concluding Agreement	  	8
			
	 Article XV
	  	Other Stipulations	  	9

 Stock Right Transfer Agreement 
 This agreement is signed by following parties: 
 Party A: Jiang Fang, a natural person with Chinese nationality and with full civil rights capacity as well as civil capacity. 
 ID No.: 210102551028441 
 Address 14-6 Nanjing South Street 10th Section Heping District,
Shenyang 
 Party B: Jiang Peng, a natural person with Chinese nationality and with full civil rights capacity as well as civil capacity. 
 ID No.: 210105630516431 
 Address: 56 Chongshan Zhong Road Huanggu District, Shenyang 
 Party C: Duan Jingshi, a natural person with Chinese
nationality and with full civil rights capacity as well as civil capacity. 
 ID No.: 210105520914433 
 Address: 3 Huanghe Avenue 5th Section Huanggu District, Shenyang 
 Party D: Li Guanghua, a natural person with Chinese nationality and with full civil rights
capacity as well as civil capacity. 
 ID No.: 210103600419421 
 Address: 4262 Honggong Lane Huigong Street 2nd Section Shenhe District, Shenyang 
 Party E: Wang Lirong, a natural person with Chinese nationality and
with full civil rights capacity as well as civil capacity 
 ID No.: 210103630913362 
 Address: 242 No. 75 Shi’er Wei, Road Shenhe District, Shenyang 
  

 1 

 Party F: Hongkong Silverstrand International Holding Limited, a limited liability company which is legally set up in Hong
King and can effectively exist. 
 Address: Unit A-C 20/F Neich Tower 128 Gloucester Road, Wan Chai, Hong Kong 
 Legal Representative: Yun Hong 
 Post Board Chairman 
 Nationality Chinese 
 Whereas: 
 I. Shenyang Maryland International Industrial Co, Ltd
(hereinafter referred to as Maryland Industrial) is a Sino-foreign joint venture that ratified by Shenyang Foreign Economic and Trade Committee and legally founded on Dec 15, 1989; on Dec 19, 2002 by the ratification of Shen Foreign
Economic & Trade Capital [2002] No. 696 document, it changed into domestic-invested company whose company legal person business license registration No. is 2101022190025. Address is 69 Heping North Avenue Shenyang; registered capital
is RMB4l.5 million Yuan, among which Party A contributes RMB3.6105 million Yuan and holds 87% stock of Maryland Industrial; Party B contributes RMB4.15 million Yuan and holds 10% stock of Maryland Industrial; Party C contributes RMB0.415 million
Yuan and holds 1% stock of Maryland Industrial; Party D contributes RMB0.415 million Yuan and holds 1% stock of Maryland Industrial; Party E contributes RMB0.415 million Yuan and holds 1% stock of Maryland Industrial. 
 II. Party A, Party B, Party C, Party D and Party E are willing to transfer the whole 100% stock of Maryland Industrial that they hold to Party F by the stipulations of
this agreement according to the relevant arrangement made by Party A, Party B, Party C, Party D and Party E with Party F. 
 III. Party F agrees to accept
totally 100% stock right of Maryland Industrial that held by Party A, Party B, Party C, Party D and Party E. 
 Hereby, after amity negotiation between every
party of this agreement, Party A, Party B, Party C, Party D, Party E and Party F sign the following agreement on the matters of stock right transfer between them in order to make individual’s right and obligation clear. 
  

 2 

 Article I. Transfer Stock Right 
 1. The “Stock Right Transfer” that referred in this agreement means the 100% contribution of Maryland Industrial’s whole registered capital and all of relevant rights, interests as well as obligations
hold by Party A, Party B, Party C, Party D and Party E that willing to transfer to Party F. 
 2. Party A, Party B, Party C, Party D and Party E agree to
transfer to Party F by the articles and conditions in this agreement, whereas Party F also agree to accept the transfer stock that hold by Party A, Party B, Party C, Party D and Party B by the articles and conditions in this agreement. 

3. The transfer stock proportion of Party A, Party B, Party C, Party D and Party E are as follows: 
 Party A transfer 87% of the stock right to Party F 
 Party A transfer 10% of the stock right to Party F 
 Party A transfer 1% of the stock right to Party F 
 Party A transfer 1% of the stock right to Party F 
 Party A transfer 1% of the stock right to Party F 
 4. Every party of this agreement agree that from the moment of stock right transfer is completed as stipulated in article 3 on, Party F then become legal holder of Maryland company’s transferred stock right, and enjoy the rights
entitled by China’s law and bear corresponding obligations, whereas Party A, Party B, Party C, Party D and Party E no longer enjoy and bear any rights and obligations related to transferred stock right, but have the obligation of assisting
Party F finish relevant change registration and other necessary legal procedure. 
 5. After the completion of the stock right transfer in this agreement,
Party A, Party B, Party C, Party D and Party E will no longer hold the stock right of Maryland Industrial, whereas the whole stock right of Maryland Industrial will be held by Party F, that is Maryland Industrial will change form domestic-invested
limited liability company to solely foreign-invested company. 
  

 3 

 Article II. Stock Right Transfer Consideration and Payment Mode 
 1. Every party of the agreement agrees that the consideration of the stock right that transferred to Party F from Party A, Party B, Party C, Party D and Party E is RMB
41.5 million Yuan (“Transfer Consideration”). 
 2. The above transfer consideration should be paid by
transferee by following payment mode, that is: 
 Party F pays RMB36.105 million Yuan to Party A 
 Party F pays RMB4.15 million Yuan to Party B 
 Party F pays RMB0.415 million Yuan to Party C 
 Party F pays RMB0.415 million Yuan to Party D 
 Party F pays RMB0.415 million Yuan to Party E 
 3. Party F agrees to pay the whole transfer consideration to transferor in the mode of spot exchange. 
 4. The transfer consideration should be paid by installments to the transferor within 1 year by Party F after the delivery of stock right transfer completed, which is
stipulated in article 3 of this agreement. 
 Article III. Delivery Date of Transferring Stock Right and Mode 
 After the subscription of this agreement, every party agrees to adopt (but no limite to) following procedures to complete the stock right transfer in this agreement, and
complete the delivery of the stock right transfer: 
 1. According to the stipulations of company constitution, the directors of Maryland Industrial pass the
decision that ratifies the transfer of stock right transfer mentioned in this agreement; 
 2. After stock right transfer, Maryland Industrial become solely
foreign-invested limited liability company Party F draft out new company constitution to reflex the transfer of stock right transfer of this agreement; 
 3.
Liaoning Foreign Economic & Trade Cooperation Department ratify the stock right transfer of this agreement, meanwhile issue new certificate of approval of foreign-invested enterprise; 
  

 4 

 4. Maryland Industrial applies for carrying out change registration to relevant industry and commerce administration
agencies, hands in original company legal person business license for cancellation, draws new legal person business license for foreign-invested enterprise. 
 5. Every party agrees that under the prerequisite of previous mentioned conditions achieved completely and this agreement formally take effect, the date on which Maryland Industrial finish stock right change registration at industry and
commerce administration department is the transfer effective date of stock right transfer mentioned in this agreement. 
 6. Stock Right Transfer
Consideration Payment Time Pay in 3 installments, the first installment, within 6 months from the date of issuing business license, pay RMB24.9 million Yuan, the second installment, within 9 months from the date of issuing business license, pay
RMB8.3 million Yuan, the rest part should be pay up within 12 months from the date of issuing business license. 
 Article IV. The Entitlement and
Obligation of Transferee in Company Constitution 
 After the completion of transfer stock right deliver, Party F become the stock right holder of
Maryland Industrial, and Maryland Industrial also change to solely foreign-invested company; the entitlement and obligations of Party A, Party B, Party C, Party D and Party E in former company constitution will terminated Party F will enjoy the
stock rights and perform stock holder’s obligations according to the new constitution of the limited liability company that have changed to solely foreign-invested and China’s relevant laws and regulations. 
 Article V. Proclamation, Pledge and Promise of Transferor 
 When Party A, Party B, Party C, Party D and Party E sign this agreement and complete the deliver of the stock right transfer stipulated in article 3 of this agreement, Party F make proclamation, pledge and promise as follows: 
 1. Party A, Party B, Party C, Party D and Party E are all citizens of People’s Republic of China, with full entitlement, right and capacity to conclude and perform
all obligations and responsibilities under this agreement. They have acquired all necessary ratification, admission, and authorization to sign this agreement. After this agreement is signed, it will constitute legal and effective constraint force to
every party. 
  

 5 

 2. The transfer stock right form Party A, Party B, Party C, Party D and Party E to Party F has legal and full property,
and the transferred stock right is pledged to have no hypothecation or any third party rights and interests; 
 3. Party A, Party B, Party C, Party D and
Party E will prompt the board of director of Maryland Industrial to pass and ratify this agreement, as well as agree change Maryland Industrial into solely foreign-invested limited liability company; 
 4. 4 Party A, Party B, Party C, Party D and Party E will assist and prompt Maryland Industrial acquire the ratification of this agreement and written reply of newly
founded solely foreign-invested enterprise from Liaomng Foreign Economic and Trade Cooperation Department. 
 5. Party A, Party B, Party C, Party D and Party
E assist Party F and Maryland Industrial acquire the approval regarding company change from relevant industry and commerce administration agencies and redraw new legal person business license for solely foreign-invested company. 
 Article VI. The Promises, Proclamation and Pledge of the Transferee 
 When signing this agreement and the stock right transfer delivery is completed which stipulated in article 3 of this agreement, Party F make proclamation, pledge and promise respectively to Party A, Party B, Party C, Party D and Party E as
follows: 
 1. Party F is a legal person of legally existing company according to Hong Kong law, with full entitlement, right and capacity to conclude and
perform this agreement, it has acquired all necessary ratification, admission, and authorization to sign this agreement. After this agreement is signed, it will constitute legal and effective constraint force to Party F. 
 2. Pay stock right transfer consideration to Party A, Party B, Party C, Party D and Party E according to the stipulations of this agreement. 
 3. Will adopt all reasonable and necessary measures to assist Party A, Party B, Party C, Party D and Party E to finish the stock right transfer mentioned in this
agreement. 
  

 6 

 4. Will do justice to any unfinished matters in the process of property transfer that mentioned in this agreement
together with transferor by China’s law and relevant policies. 
 Article VII. Become Effective for the Agreement 
 This agreement will become effective upon signing and seal by every party after reporting and ratified by Liaonmg Foreign Economic and Trade Cooperation Department.

 Article VIII. Suspension of the Agreement 
 This agreement may be suspended for the following reasons: 
 1. If tremendous change happened to the objective conditions,
both parties could achieve agreement to suspend this agreement before the expiry; 
 2. Any party of the agreement losing
the qualification of main body thus cannot keep on performing the agreement; 
 3. Any party of the agreement lossing the
capacity of keeping on performing the agreement because of force majeure. 
 4. Other reasons stipulated by law that can
suspend the agreement. 
 Article IX. Responsibilities after the Suspension of Agreement 
 If the fault of any parties leads to the termination of the agreement, bring damage and loss to the other party, and cause any expense, the other party preserves the
right of requesting compensation for the damage and loss. 
 Article X. Liabilities for Breach of Contract 
 Every parties of this agreement should keep its promise, proclamation and pledge, and guarantee the other party will not suffer from any loss for one party/or two parties
breach its promise, declaration and pledge. If any party’s breach bring loss (including economic loss and disbursal) to the other party, it is his responsibility to compensate the other party. 
  

 7 

 Article XI. Force Majeure 
 “Force majeure” refers to all events happened after this agreement become effective, which is unforeseeable, its occurrence and result cannot be avoided and overcame, and made one party cannot perform all or
part of the obligations of this agreement. 
 1. The obligation of every party in this agreement can stop performing in the delay period that caused by the
force majeure. If it happens, extension could be made automatically, and the extension should equal to termination period. 
 2. The party that suffered
force majeure should write to notice the other party in paper as soon as possible, and provide effective documentary evidence of the force majeure and happen time within 15 days. The party that suffered force majeure should adopts all reasonable
measures to relief the result of the force majeure as soon as possible. 
 3. Every party should carry out negotiation immediately when the force majeure
happens, and seek a fair solution to release the result of force majeure at most. 
 Article XII. Applicable Law 
 The conclusion, effectiveness, explanation, performance and settlement of disputation are all under the jurisdiction of law of the People’s Republic of China.

 Article XIII. Settlement of Disputation 
 Any
disputation related to this agreement, or caused by implementing this agreement between any parties should at first try to be settled through amity negotiation. If the disputation can not be settled by negotiation, then any party can lodge
litigation to the court that with jurisdiction. 
 Article XIV. Time & Place for Concluding Agreement 
 This agreement is concluded in City of Shenyang Lzaomng province, People’s Republic of China on Oct 18, 2004. 
  

 8 

 Article XV. Other Stipulations 
 1. This agreement is written in Chinese, original in octuplicate. Party A, Party B, Party C, Party D, Party E and Party F hold one copy respectively, the rest two copies submit to relevant politics department. Each
original copy holds equal legal effectiveness. 
 2. The revision of this agreement should in written mode, and signed by every party 
 Page for Signature 
 (This page without
text) 
 Party A, Party B, Party C, Party D, Party E and Party F specially authorize its representative to sign this agreement in faith of appointment on
previously mentioned place and time. 
 Party A: Jiang Fang 
 Signature: 
 Party B: Jiang Peng 
 Signature: 
 Party C: Duan Jmgshi 
 Signature: 
 Party D: Li Guanghua 
 Signature: 
 Party E: Wang Lirong 
 Signature: 
  

 9 

 For and on behalf of 
 SILVERSTRAND INTERNATIONAL HOLDINGS LIMITD 
 Party F: SILVERSTRAND INTERNATIONAL HOLDINGS LIMITD 
  

			
	Signature of Authorized Representative:	  	Yun Hong
		
		  	Authorized Signature

  

 10Sales and Purchase Contract

 Exhibit 10.5 
 Sales and Purchase Contract 
 Ref. No: HT-2005-12001 
 Date: 8th December,
2005 
 Venue : Shenyang, PRC   
 This contract is signed between: 
  

			
	Party A	    	: Shenyang Yunfeng Real Estate Development Co. Ltd.
		
		    	(hereinafter called Party A)
		
	Address	    	: 73, Nanba Zhong Road, Tiexi District, Shenyang
	
	Legal Representative : JIANG Peng

  

			
	Party B	    	: Shenyang Maryland International Industry Co. Ltd.
		
		    	(hereinafter called Party B)
		
	Address	    	: 69, Heping Road North, Heping District, Shenyang
	
	Legal Representative : JIANG Fang

  

	1.	Background of Transaction 

 Shenyang Xinchao Development
Co. Ltd is a Sino-Foreign joint venture corporation with a registered initial capital of RMB100 million. The purpose of the formation of the company is the development of a “Xita Project”, a real estate development project. Party A is a
majority shareholder of this company with 70% share equity, i.e., RMB70 million. Party A shall now transfer this share equity to Party B. After the transfer of such share equity, 

 Party B shall become the Chinese Partner of Shenyang Xinchao Development Co. Ltd. This contract is hereby signed between
both Parties with a fair justification. 
  

	2.	Price of Transaction 

 Both Parties agreed that the price
of the transaction is determined according to the valuation of the “Xita Project” wholly owned by Shenyang Xinchao Development Co. Ltd. Both Parties shall appoint a valuation consultant to value the “Xita Project”. The
transaction price is, therefore, a 70% x 90% of the valuation. 
  

	3.	Issue of the Valuation Report 

 The valuation report should
be issued on or before 30th April, 2006. 
  

	4.	Terms of Payment 

  

	 	a)	After the transaction of the share equity, Party B becomes the Chinese Partner of Shenyang Xinchao Development Co. Ltd, holding 70% share equity. Therefore, a RMB70 million equity
capital should be paid. A payment of RMB 40 million in cash, which was invested by Party A before, shall be paid by Party B to compensate Party A within two months after the equity transaction. The remaining RMB 30 million shall be paid
according to the “Shenyang Xinchao Development Co. Ltd. Contract” and “the Memorandum of Shenyang Xinchao Development Co. Ltd.”. 

  

	 	b)	The excess value between the agreed transaction price (valuation x 

 70% x 90%) and RMB 70 million shall be paid by Party B in the form of common stocks of
“GCIH”. The amount of the common stocks is determined by the average stock price within 3 months before 30th April, 2006. The amount of common stocks shall be transferred to Party A on or before 30th July,
2006. The total value of the shares issued will not exceed the amount of RMB20 million, The payment in excess of RMB 20 million shall not be made by Party B to Party A. 
  

	5.	Force Majeure 

 Should any term of this contract is not
performed by either Party owing to “Force Majeure” such as fire, flooding, earthquake, etc., both Parties shall negotiate, and hence, may delay the execution of the contract. 
  

	6.	Arbitration 

 All disputes arising from the performance of,
or relating to this Contract, shall be settled amicably through negotiation. In case no settlement can be reached through negotiation, the case shall then be submitted to the People’s Court of China for arbitration in accordance with its
arbitration laws. 
  

	7.	Others 

 Additional terms of this Contract shall be agreed
upon by both Parties through negotiations. This contract is written in both Chinese and English. Both language versions are equally legitimate. This Contract is written in four originals; each Party holds two. 

 Signed by Party A, Shenyang Yunfeng Real Estate Development Co. Ltd.: 
 Representative: JIANG Peng (authorized signature) 
 Signed by Party B, Shenyang Maryland International Industry Co. Ltd.: 
 Representative: JIANG Fang (authorized signature)

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