Document:

English Translation of Equity Transfer Contract dated as of September 15, 2006

 Exhibit 10.7 
 English Translation 
 Equity Transfer Contract 
 Regarding Beijing Prosoft Software Technology Co., Ltd. 
 Between 
 Worksoft Creative Software Technology Ltd. 
 AND 
 Shenzhen Yungong Investment Co., Ltd. 
 AND 
 Zhang Hong, Chen Wei, Ma Li and Zhao Lin

 Contents 
  

					
	 Article 1
	  	Definitions	  	3
			
	 Article 2
	  	Equity Transfer	  	4
			
	 Article 3
	  	Consideration of Equity Transfer and Payment	  	5
			
	 Article 4
	  	Representations and Warranties	  	6
			
	 Article 5
	  	Closing	  	7
			
	 Article 6
	  	Further Undertakings	  	8
			
	 Article 7
	  	Rights of both Parties	  	9
			
	 Article 8
	  	Confidentiality	  	9
			
	 Article 9
	  	Notice	  	10
			
	 Article 10
	  	Defaulting Liabilities	  	10
			
	 Article 11
	  	Expenses and Taxes	  	10
			
	 Article 12
	  	Dispute Resolution	  	11
			
	 Article 13
	  	Applicable Law	  	11
			
	 Article 14
	  	Language	  	11
			
	 Article 15
	  	Entire Contract	  	11
			
	 Article 16
	  	Effectiveness	  	11
		
	 Annex 1 Company’s Existing Shareholders (i.e. Party B)
	  	12
		
	 Annex 2 Conditions
	  	13
		
	 Annex 3 Loans Accepted or Provided by Prosoft
	  	14
		
	 Annex 4 Representations and Warranties
	  	15

 THIS EQUITY TRANSFER CONTRACT (“this Contract”) is entered into by and between the following parties as of
September 15, 2006: 
  

	(1)	Worksoft Creative Software Technology Ltd., a limited liability company incorporated under the laws of the People’s Republic of China, whose registered address is 3F, No.8
Building, Zhongguancun Software Park, 8 Dongbeiwang West Road, Haidian District, Beijing (hereinafter referred to as “Party A”); and 

  

	(2)	Shenzhen Yungong Investment Co., Ltd., a limited liability company incorporated under the laws of the People’s Republic of China, whose registered address is Rm.402-404, Block
A, Xirihai Science & Technology Building, Shekou Industry Avenue, Nanshan Disrict, Shenzhen; and Zhang Hong, Chen Wei, Ma Li and Zhao Lin, (hereinafter collectively referred to as “Party B”). 

 WHEREAS, 
  

	(A)	Party B holds the 100% equity of Beijing Prosoft Software Technology Co., Ltd. (hereafter “Prosoft” or “the Company”) (the respective equity percentages of Party
B are given in Annex 1 attached hereto); Prosoft is a limited liability company incorporated under the laws of the People’s Republic of China, whose registered address is Rm.308, 3F, Digital Media Building, 7 Xinxi Road, Shangdi Information
Industry Base, Haidian District, Beijing, and its current registered capital is RMB 2 million; 

  

	(B)	Subject to the terms and conditions of this Contract, Party B agrees to transfer to Party A 100% equity interest of Prosoft (but excluding its equity in Prosoft Subsidiaries)
(“Equity Transfer”), and Party A agrees to purchase from Party B 100% equity owned by Party B in Prosoft at a price of RMB 2 million; 

  

	(C)	Party A and the third party designated by Party A have completed due diligence on Prosoft. 

 NOW, THEREFORE, Party A and Party B, through friendly negotiations, hereby agree as follows: 
 Article 1
Definitions 
  

	1.1	Whenever used in this Contract, the following terms shall have the following meanings, unless otherwise specifically specified herein or the context otherwise requires:

 “Equity” means the 100% capital contributions made by Party B to Prosoft (totaling RMB 2 million), along with the represented
title, rights and interests (including any retaining earnings of the Company), i.e. the target equity of the Equity Transfer. 
 “Prosoft
Subsidiaries” means Prosoft’s subsidiaries, i.e. Shenzhen Prosoft Software Technology Co., Ltd., Shenzhen Zhizhuo Technology Co., Ltd. and Shanghai suobo Software Co., Ltd., the 100% equity interest of each is owned by Prosoft. 

“Closing” means that for the purpose of the Equity Transfer under this Contract, Party B transfers equity to Party A and completes related registration
procedures concerning shareholder change. 
 “Closing Date” means the date when all the equity transfer conditions as set forth in Annex 2 are
fulfilled and shareholder change is completed, or another date as otherwise agreed upon by both parties. 

 “Purchase Price” means the payment price with a total amount of RMB 2 million. 
 “Due Diligence” means the comprehensive due diligence performed by Party A and the third party designated by Party A with respect to Prosoft. 
 “Confidential Information” means any and all oral and written information relating to or associated with the business operation, business strategy, business
plan, investment plan, sales, customers, marketing, technology, research and development, financial or other issues of both parties, including, but not limited to, all the reports and records containing such information and all copies (including
electronic ones), duplicates, reproductions and translations thereof. For the purpose of this Contract, Confidential Information shall also include this Contract and the Closing under this Contract. Neither party shall disclose related information
to any third party other than both parties and the companies delegated by them. 
 “Conditions” means the conditions precedent for the Closing as
listed in Annex 2. 
 “Workday” or “Business Day” means the date except Saturday or Sunday or public holidays in China. 
 “Transfer Price”, “Equity Transfer Price” or “Equity Purchase Price” means the price to be paid by Party A to Party B under this Contract.

 “Renminbi” or “RMB” means the lawful currency of China. 
 “Registration Authorities” means the administration for industry and commerce with which Prosoft is registered. 
  

	1.2	Unless otherwise specifically specified herein or the context otherwise requires: 

  

	1.2.1	The contract, agreement or document as mentioned herein shall mean this Contract, agreement or document as may be amended, supplemented or replaced from time to time;

  

	1.2.2	Any person mentioned in this Contract or other contract, agreement or document shall include the successor and permitted assignee of such person; 

  

	1.2.3	The provisions or annexes as mentioned herein shall mean the provisions of or annexes to this Contract; and 

  

	1.2.4	“Party” shall mean a party to this Contract and “both parties” shall mean Party A and Party B. 

 Article 2 Equity Transfer 
  

	2.1	Subject to the conditions of Annex 2 attached hereto, Party B agrees to transfer to Party A, and Party A agrees to accept from Party B, the related equity interest of Prosoft. Such
equity shall be free and clear of any security interest. The percentages of the respective equity interest to be transferred by Party B to Party A are given in Annex 1 below. 

  

	2.2	Prior to the Equity Transfer, the equity structure of Prosoft is as follows: 

  

					
	 Shareholder’s name
	  	 Capital contribution
	  	 Percentage

	Shenzhen Yungong Investment Co., Ltd.	  	RMB 227,600	  	61.38%
			
	Zhang Hong	  	RMB 301,600	  	15.08%
			
	Chen Wei	  	RMB 167,200	  	8.36%
			
	Ma Li	  	RMB 162,800	  	8.14%
			
	Zhao Lin	  	RMB 140,800	  	7.04%
			
	Total	  	RMB 2,000,000	  	100%

	2.3	After the Equity Transfer, the equity structure of Prosoft is as follows: 

  

					
	 Shareholder’s name
	  	 Capital contribution
	  	 Percentage

	Party A	  	RMB 2,000,000	  	100%
			
	Shenzhen Yungong Investment Co., Ltd.	  	RMB 0	  	0%
			
	Zhang Hong	  	RMB 0	  	0%
			
	Chen Wei	  	RMB 0	  	0%
			
	Ma Li	  	RMB 0	  	0%
			
	Zhao Lin	  	RMB 0	  	0%
			
	Total	  	RMB 2,000,000	  	100%

 Article 3 Consideration of Equity Transfer and Payment 
  

	3.1	Both parties agree that the Equity Purchase Price under this Contract is denominated in RMB. The Equity Purchase Price to be paid by Party A is RMB 2 million.

  

	3.2	Both parties agree that Party B is not entitled to any bonus or dividends of the Company after June 30, 2006; Party A is entitled to any bonus or dividends (if any) paid by the
Company after June 30, 2006. 

  

	3.3	Both parties agree that during the period from the execution date of this Contract to the Closing Date of the Equity Transfer, Prosoft shall convene a shareholders’ meeting at
which to resolve to dissolve Shenzhen Prosoft Software Technology Co., Ltd. and Shanghai Suobo Software Co., Ltd. in Prosoft Subsidiaries. After such resolution is adopted, Party B shall take all reasonable measures to transfer all the rights and
obligations under all the outstanding business contracts (their list is given in Schedule 2 of Annex 4 below) of the said two Prosoft Subsidiaries to Prosoft, obtain the written consents of the other parties to all such related business contracts
and complete any and all procedures relating to liquidation and cancellation. All the remaining properties of Prosoft Subsidiaries after liquidation and compensation of all debts shall be distributed to Prosoft. 

  

	3.4	 Both parties agree that during the period from the execution date of this Contract to the Closing Date of the Equity Transfer, Prosoft shall convene a
shareholders’ meeting at which to 

	 	 
resolve to transfer its 100% equity interest in Shenzhen Zhizhuo Technology Co., Ltd. to a third party other than both parties to this Contract. The matters
regarding such transfer, including, but not limited to, transfer time, transfer price, transfer conditions, etc, shall be disclosed by Party B to Party A in writing in a timely and all-round manner. With regard to the above matters, without Party
A’s consent, Party B shall not cause Prosoft to execute any legally binding document. 

  

	3.5	Party B agrees that subsequent the liquidation or transfer of the Prosoft Subsidiaries as set forth in Articles 3.3 and 3.4, Party B waives any right and claim with respect to the
remaining properties of Prosoft Subsidiaries or the proceeds from such transfer. 

  

	3.6	Subject to the fulfillment of the Closing, Party A shall, within 5 workdays after the Closing Date, pay the Purchase Price of RMB 2 million to the following account designated
by both parties: 

  

	 	Name of account holder: Shenzhen Yungong Investment Co., Ltd. 

	 	Account opening bank: Huaqiao City Hongli Sub-branch, Shenzhen Branch, China 

	 	Merchants Bank 

	 	Account No.: 8380426910001 

 Article 4 Representations
and Warranties 
  

	4.1	Each party hereby represents and warrants to the other party that: 

  

	4.1.1	it is a company duly incorporated and existing under Chinese laws and regulations, complies with the conditions/requirements of Chinese laws and regulations and has performed
related approval/registration procedures; 

  

	4.1.2	It has the right, authority and power to execute and perform this Contract; and 

  

	4.1.3	The execution and performance of this Contract have been duly authorized by corporate action on its part. Once executed, this Contract constitutes a legal, valid and binding
obligation enforceable against such party in accordance with its provisions. 

  

	4.2	Party B further makes the representations and warranties as listed in Annex 4 below to Party A. 

  

	4.3	Except as otherwise expressly provided herein, each party warrants that each of its representations and warranties is true, accurate and complete as of the execution date of this
Contract and the Closing Date and is not misleading to the other party. 

  

	4.4	Where either party defaults under any representation or warranty made by it under this Contract, such party shall indemnify the other party from and against any and all claims,
expenses, costs, losses and liabilities, directly or indirectly, caused by or arising from such default, unless the defaulting party can prove that it is indeed not made aware of the situation as of the execution date of this Contract and has no
intentional act or gross negligence. 

  

	4.5	Before the Closing is completed: 

  

	4.5.1	If either party knows that any of its representations and warranties under this Contract is untrue, inaccurate and incomplete or is misleading to the other party, it shall forthwith
inform the other party in writing; 

	4.5.2	The party violating any of its representations and warranties shall promptly take measures to cure such violation. Where such violation is not cured within 30 days of giving the
written notice as stated in Article 4.5.1 hereof, both parties shall negotiate in good faith to seek a mutually acceptable resolution; and 

  

	4.5.3	In the event that the violation hereof is still not cured within 30 days after the good faith negotiation as stated in Article 4.5.2 hereof begins, and both parties fail to reach a
resolution, the non-violating party may continue the Closing or terminate this Contract at its own discretion. If the Closing continues, the violating party shall not be exempt from the defaulting liabilities as specified in Article 4.4 above. Any
such termination shall not affect the rights and obligations under this Contract already possibly accrued up to the date of termination. 

 Article 5 Closing 
  

	5.1	Closing is subject to the fulfillment of the conditions as listed in Annex 2. 

  

	5.2	Both parties shall make all reasonable efforts to cause all the conditions for the Closing to be fulfilled. In case any condition is still not fulfilled within one month after the
execution date of this Contract, both parties shall immediately negotiate to seek a mutually acceptable resolution. If no resolution is reached within three months after the execution date of this Contract: 

  

	5.2.1	this Contract shall be terminated upon expiry of such three-month period, unless otherwise agreed upon by both parties in writing. Such termination shall not affect the rights and
obligations of both parties under this Contract already possibly accrued up to the date of termination; and 

  

	5.2.2	each party shall take all necessary or appropriate actions to reposition it as before the execution of this Contract, including, without limitation, applying to related Chinese
authorities for cancellation of any registration as may have been made in relation to the transactions contemplated by this Contract or any other registration for the same purpose. 

  

	5.3	Each party shall be entitled to give a written notice to the other party to, in whole or in part, waive any or all conditions precedent that need to be fulfilled by the other party.

  

	5.4	The Closing of the Equity Transfer shall be made in Beijing as of the Closing Date. At Closing, Party B shall deliver to Party A the copies of the documents affixed with official
seal and proving that the registration of alteration of the Company have been handled with the Registration Authorities, and shall also present originals for verification. 

  

	5.5	Should any of the following cases occur, the defaulting party shall indemnify the non-defaulting party from and against any and all claims, expenses, costs, losses and liabilities,
directly or indirectly, caused by or arising from such default: 

  

	5.5.1	Party B does not perform or fails to timely perform its obligations under Article 5.1 above and as a result, the Closing of the Equity Transfer cannot be completed;

	 	5.5.2	Party A fails to pay the Purchase Price to Party B at the time as specified in Article 3 above. 

 Article 6 Further Undertakings 
  

	6.1	Each party shall further execute such documents and do such acts as may be reasonably requisite for the full implementation of this Contract. 

  

	6.2	As the shareholder of Prosoft before the Closing Date, Party B shall not do or permit Prosoft to do any thing that is likely to have a material adverse impact on equity and/or the
Company during the period from the execution date of this Contract to the Closing Date. Party B undertakes that except with Party A’s prior written consent: 

  

	6.2.1	Prosoft will be engaged in its normal and customary business activities. Except the payments for its normal and customary businesses, Prosoft will not make (or agree to make) any
other unnecessary payment. Notwithstanding the foregoing provision, Prosoft shall not make any single cash payment exceeding RMB 100,000 or cash payments cumulatively exceeding RMB 300,000, regardless of normal and customary businesses;

  

	6.2.2	Prosoft will take all reasonable procedures to maintain and protect its assets and try its best to retain existing management and core technicians and to maintain its relationship
with customers, suppliers and other third parties so that its goodwill and prospect of continued operations are not damaged; 

  

	6.2.3	By giving a prior written notice during normal working hours, Party A’s representative is entitled to obtain and copy Prosoft’s financial statements;

  

	6.2.4	Party B has no actions or inactions that constitute or result in the violation of its representations and warranties; 

  

	6.2.5	In the event that the fact serving as the basis for its representations and warranties under this Contract changes and has a material adverse impact on the Closing under this
Contract, it will keep Party A informed of such fact as early as possible; 

  

	6.2.6	Prosoft will not declare to distribute, pay or prepare payment of dividends or other profits; 

  

	6.2.7	The capital of Prosoft will not be increased or Prosoft will not agree to such capital increase; 

  

	6.2.8	Except the loans disclosed by Prosoft to Party A in Annex 3, Prosoft will not accept any loan or provide any borrowing; 

  

	6.2.9	The transactions between Prosoft and Party B are based on fair market terms; 

  

	6.2.10	Except as otherwise specified in laws, regulations and rules, Prosoft will not change the employment terms with its employees (including management personnel) in a manner that the
total staff costs of the Company for the current year will increase; 

  

	6.2.11	Prosoft will not make any warranty to Party B; 

  

	6.2.12	Party B will not do any act that is inconsistent with the provisions of this Contract or the result of the transactions contemplated by this Contract; 

  

	6.2.13	Party B and/or Prosoft will, as practicable as possible, inform Party A in writing of all the events or acts unrelated to the daily operations of Prosoft, including (supplements, if
needed, are to be agreed upon by both parties in writing): 

	 	1)	Equity restructuring of Prosoft, amendment of the articles of association of Prosoft or other change of industrial and commercial registrations of Prosoft; 

 

	 	2)	Prosoft signs an agreement relating to intellectual property rights with any third party, regardless of whether the ownership of its intellectual property rights is changed
(including, but not limited to, transfer, donation, etc), others are licensed to use its proprietary intellectual property rights or Prosoft uses the intellectual property rights of others. 

  

	6.3	Party A undertakes that: 

  

	6.3.1	It will pay the Equity Transfer Price on time; 

  

	6.3.2	After the Closing Date, it will provide the funds necessary for the normal operations of Prosoft; 

  

	6.3.3	After the signing date of this Contract, it will provide the necessary support and cooperation for the changes (if any) of the business contracts between Prosoft and its customers.

 Article 7 Rights of both Parties 
  

	7.1	If any of the following facts, matters or events is known to Party A at any time before the Closing, Party A may inform Party B and/or Prosoft in writing before the Closing and
terminate this Contract without undertaking any liability; the defaulting party shall also undertake the defaulting liabilities as set forth in Article 10 below: 

  

	7.1.1	The act of Party B and/or Prosoft materially violates this Contract and as a result, Party A cannot fulfill equity purchase; 

  

	7.1.2	There exists or occurs any matter violating any representation or warranty and such violation has a material adverse impact on Prosoft and the Closing under this Contract;

  

	7.1.3	There occurs anything that has or is likely to have a material adverse impact on the business, financial position or prospect of Prosoft. 

  

	7.2	If any of the following facts, matters or events is known to Party B at any time before the Closing, Party B may inform Party A in writing before the Closing and terminate this
Contract without undertaking any liability; Party A shall also undertake the defaulting liabilities as set forth in Article 10 below: 

  

	7.2.1	Party A fails to pay the Equity Transfer Price on time and such failure lasts for 30 days or longer so that Party B cannot obtain the Equity Transfer Price on time;

  

	7.2.2	There occurs anything that has or is likely to have a material adverse impact on the business, financial position or prospect of Party A; 

 Article 8 Confidentiality 
  

	8.1	 Each party (“Receiving Party”) shall keep in confidence the confidential information obtained 

	 	 
from the other party and shall not use such information for any other purpose than as specified herein or disclose such information to any third party.
Notwithstanding the foregoing provision, such confidentiality obligation shall not apply to the information which: 

  

	8.1.1	is or becomes public knowledge through no fault of the Receiving Party or its representative, agent, supplier or subcontractor; 

  

	8.1.2	is lawfully received by the Receiving Party from a third party without a duty of confidentiality or any use limitation; or 

  

	8.1.3	is already possessed by the Receiving Party in writing without any use or disclosure limitation, and is not obtained from the other party for the purpose of this Contract.

  

	8.2	Notwithstanding the foregoing provision, the Receiving Party may disclose confidential information to its or Company’s employees, directors and consultants to the extent being
reasonably necessary for the purpose of this Contract. The Receiving Party shall ensure that such employees, directors and consultants know and comply with the confidentiality obligations in this Article. Subject to the requirement of law or court
of competent jurisdiction or supervisory department, the Receiving Party may disclose confidential information, provided, however, that the Receiving Party shall, to the extent being permitted by relevant laws and regulations, take all permitted
measures to cause such confidential information to be treated in confidence. 

  

	8.3	The Receiving Party shall not make copies of any received confidential information in tangible, written or electronic way. 

 Article 9 Notice 
  

	9.1	Any notice required to be made pursuant to this Contract shall be in writing and sent to the fax number or address designated by the addressee by fax or registered mail. The notice
so given shall be deemed to be received: 

  

	 9.1.1
	 If by fax, at the twelfth (12th) hour after sending; and 

  

	 9.1.2
	 If by registered mail, on the third (3rd) day after posting. 

  

	9.2	Any written notice required to be made by Party A pursuant to the provisions of Article 9.1 above shall be sent to the following address of Party B: Suite 1514, Block A,
Tai’anxuan, Tairan Industry & Trade Park, Futian District, Shenzhen (postal code). Any notice sent by Party A to the above address shall be sent to all members of Party B. 

 Article 10 Defaulting Liabilities 
 In the event that
either party defaults under any provision of this Contract, it shall indemnify the non-defaulting party from and against any and all claims, expenses, costs, losses and liabilities, directly or indirectly, caused by or arising from such default.
Where Party A fails to pay the Equity Transfer Price on time, Party A shall pay Party B the liquidated damages at a daily rate of 0.02% of the outstanding sum; where defaulting party is a party in Party B and/or Prosoft, Party B shall undertake the
joint and several responsibility for such indemnification. 

 Article 11 Expenses and Taxes 
  

	11.1	Each party shall itself bear all its negotiation and implementation expenses in connection with this Contract (including its annexes) and other final agreements as well as purchase,
such as, without limitation, legal, accounting, financial, consulting and other related expenses. 

  

	11.2	Each party shall itself bear any tax as may be levied on it in connection with the Equity Transfer under this Contract. Each party shall itself pay the stamp tax with respect to the
original of this Contract held by it. 

 Article 12 Dispute Resolution 
 Any dispute arising from or in connection with this Contract, including any question regarding the validity or existence of this Contract, shall be resolved by both
parties in good faith through negotiations. In case no resolution can be reached, either party may refer such dispute to Beijing Arbitration Commission for arbitration in Beijing in accordance with its arbitration rules then in effect. Arbitral
award shall be final and binding upon both parties. 
 Article 13 Applicable Law 
 This Contract shall be governed by and construed in accordance with the laws of the People’s Republic of China. 
 Article 14 Language 
 This Contract is executed in
seven originals in Chinese, one original for each of all the parties concerned and the Registration Authorities. 
 Article 15 Entire
Contract 
 This Contract, including its schedules, annexes and appendixes attached hereto, constitutes the entire contract between both parties with
respect to the subject matter hereof and substitutes and replaces any and all prior contracts, whether written or oral, between both parties with respect to the subject matter hereof. 
 Article 16 Effectiveness 
 This Contract shall come into effect after it is executed and sealed
by both parties or their duly authorized representatives. 
 IN WITNESS WHEREOF, both parties hereto have executed this Contract as of the date first above
written. 

 Annex 1 Company’s Existing Shareholders (i.e. Party B) 
  

											
	 Shareholder’s name
	  	 Number of business license or
 ID card
	  	Percentage of
existing equity	 	 	Percentage of
equity to be
transferred	 	 	Equity
percentage
after the
Closing of
Equity
Transfer
	 Shenzhen Yungong Investment Co., Ltd.
	  	4403011011297	  	61.38	%	 	61.38	%	 	0
	 Zhang Hong
	  	120105197111092427	  	15.08	%	 	15.08	%	 	0
	 Chen Wei
	  	110108196610186391	  	8.36	%	 	8.36	%	 	0
	 Ma Li
	  	110105590210773	  	8.14	%	 	8.14	%	 	0
	 Zhao Lin
	  	132430197403091326	  	7.04	%	 	7.04	%	 	0

 Annex 2 Conditions 
  

	1.	The Closing of the Equity Transfer is subject to the fulfillment of all the following conditions or a written waiver of them by relevant party: 

  

	1.1	Party A shall: 

  

	 	(1)	Have obtained the resolution adopted by Party A’s board of directors on approving the Equity Transfer; 

  

	 	(2)	Have executed any and all legal documents as necessary for the completion of the Equity Transfer. 

  

	1.2	Party B and Prosoft shall ensure that: 

  

	 	(1)	The shareholders’ meeting of the Company has adopted a resolution on approving the Equity Transfer and amendment of articles of association; 

  

	 	(2)	The other legal documents required under this Contract or necessary for the completion of the Equity Transfer have been duly executed; 

  

	 	(3)	The registrations of the equity and other changes of the Company have been handled with the Registration Authorities; 

  

	 	(4)	The related registration or filing procedures of the legal representative and/or executive directors appointed by Party A have been handled with the Registration Authorities.

  

	1.3	Party A and the third party designated by Party A have completed due diligence on Prosoft. Party A is satisfied with the result of due diligence or the problems identified during
due diligence have been resolved in compliance with Chinese laws and regulations. 

 Annex 3 Loans Accepted or Provided by Prosoft 
  

									
	 Name
	  	Amount	  	 Interest
	  	Time of
borrowing	  	Time of
repayment
	 Bank of Beijing
	  	RMB 2 million	  	Monthly rate, 0.5%	  	2006.02.28	  	2007.02.27
	 Shenzhen Yungong Investment Co., Ltd.
	  	RMB 1.35 million	  	Monthly rate, 0.6%	  	2006.01.01	  	2006.12.31

 Annex 4 Representations and Warranties 
 The terms as defined in the main body of this Contract shall have the same meanings in this Annex 4. The following terms shall have the following meanings: 

“Accounts” means the audited accounts of Prosoft ended on the Reference Date (including one balance sheet and one profit statement), notes to accounting
statements, description, report and other documents signed by auditor. 
 “Encumbrances” means mortgage, pledge, lien, right of priority,
third-party right, any other type of encumbrance or security interest or other type of similar priority arrangement (including, but not limited to retention of title or trust arrangement. 
 “Intellectual Property Rights” means: 
  

	(a)	Any and all the Internet domain names, email addresses (except those containing the names of the internal personnel of Prosoft), trade names, trademarks or service marks as well as
any other related applications and registrations that have been or are being used by Prosoft with respect to its commodities or services, as set forth in Schedule 1 of this Annex (hereinafter collectively referred to as “Marks”);

  

	(b)	Any and all patents and patent applications made by the employees of Prosoft by performing their duties in accordance with employment contracts or mainly using Company’s
monies, equipment, parts, materials or technical data not made publicly available, including, but not limited to, invention, utility model and industrial design, as set forth in Schedule 1 of this Annex (hereinafter collectively referred to as
“Patents”); 

  

	(c)	The copyrights of any and all published and unpublished works jointly or individually created by the employees of Prosoft or the personnel engaged by Prosoft within the scope of
employment or engagement (hereinafter collectively referred to as “Copyrights”); 

  

	(d)	The rights of any and all molding works jointly or individually developed, designed, manufactured or conceived by the employees of Prosoft or the personnel engaged by Prosoft within
the scope of employment or engagement, as set forth in Schedule 1 of this Annex (hereinafter collectively referred to as “Molding Work Rights”); 

  

	(e)	Any and all technical and/or business information jointly or individually developed, designed, manufactured, conceived or made practicable by the employees of Prosoft or the
personnel engaged by Prosoft within the scope of employment or engagement or is obtained by Prosoft through other means, which is not made available to the public, can bring economic benefits to Prosoft and is kept confidential by Prosoft, including
confidential or proprietary information, know-how, process, method, study, technical information, data, improvement, idea, invention, discovery, skill, development, plan, graph, drawing, flow chart, print, specifications, software program, original
and execution codes, development and marketing plan, strategy, forecast, customer information, name list of customer or similar information, whether it is commercial, experimental or patentable information (hereinafter collectively referred to as
“Trade Secrets”). 

 “Reference Date” means June 30, 2006. 

 “Management Accounts” means the unaudited profit statement of Prosoft from the date following the Reference
Date to August 31, 2006 as well as the unaudited balance sheet of Prosoft as of August 31, 2006. 
 “Taxes” means any form of tax levied
by Chinese central and local financial, taxation, customs and other authorities. 
 Article 1 Ability and Authority 
  

	1.1	Party B and Prosoft have the right, power and authority to execute and perform this Contract and each document to be executed on or before the Closing Date (as the case may be) and
to exercise its rights and obligations under this Contract and each such document. 

  

	1.2	Prosoft has the right, power and authority to be engaged in the businesses it is engaged in as of the execution date of this Contract and the Closing Date. 

Article 2 Materials 
  

	2.1	All the materials provided by Party B, Prosoft or their representatives to Party A or its consultant or representative before or during the negotiations made for the execution of
this Contract are true, complete and accurate. 

 Article 3 Equity 
 Party B is the legal owner of the equity of Prosoft, owns the equity-related rights and shall undertake the corresponding obligations. 
 Article 4 Accounts 
  

	4.1	General Terms 

  

	4.1.1	Accounts are prepared in accordance with Chinese laws and applicable accounting standards and practices. 

  

	4.1.2	Accounts truly and impartially present Company’s operations (assets, liabilities, etc), profits and losses as of the Reference Date. 

  

	4.2	Debts and liabilities 

 Accounts adequately and truly present the bad
debts, doubtful debts and liabilities as of the Reference Date. 
  

	4.3	Preparation for tax 

 Necessary preparation for all related taxes have
been made in the Accounts. 
  

	4.4	Accounting records 

 Accounting records are prepared in a complete and
accurate way in accordance with Chinese laws and universal applicable rules and principles. 
  

	4.5	Management accounts 

 Management Accounts are appropriate prepared on the
basis of the same standards for the Accounts and fairly present the assets, liabilities, profits and losses of Prosoft as of August 31, 2006. 

 Article 5 Changes since the Reference Date 
  

	5.1	General Terms 

 Since the Reference Date: 
  

	5.1.1	The businesses of Prosoft have continued as a going concern; 

  

	5.1.2	There have been no substantial adverse changes in the financial or trade situation of Prosoft; and 

  

	5.1.3	The assets and liabilities shown in the Accounts are true and there have been no substantial changes; based on the method of valuation adopted in the Accounts, there have been no
significant reduction in the net value of Company’s tangible assets. 

  

	5.2	Special Terms 

 Since the Reference Date: 
  

	5.2.1	Except in the normal course of business, without Party A’s consent, Prosoft has not: 

  

	 	(a)	Obtained or disposed of or agreed to obtain or dispose of any substantial properties; and 

  

	 	(b)	Undertaken or incurred or agreed to undertake or incur any significant obligations or expenses. 

  

	5.2.2	Except as presented in the Accounts, since the Reference Date, Prosoft has not declared, paid or distributed any dividends, funds and bonus. 

 Article 6 Taxes 
  

	6.1	General Terms 

  

	6.1.1	Prosoft has paid or made provisions for all its payable taxes and since the Reference Date, has not paid any fine, penalty or interest regarding any tax levied by the competent
taxation authorities. 

  

	6.1.2	Since the Reference Date, Prosoft has not been involved in any tax-related dispute and has been free of any tax evasion act that may cause competent taxation authorities and
judicial institution to ascertain its legal responsibility. 

  

	6.1.3	The preferential tax treatments enjoyed by Prosoft are granted by related authorities in a legal and effective manner and Prosoft will continue to enjoy such preferential tax
treatments in accordance with the related regulations of the said authorities. 

  

	6.1.4	There are no outstanding issues or disputes relating to taxes between Party B and Prosoft. 

 Article 7 Assets 
  

	7.1	Since the Reference Date, all the assets detailed in the Accounts of Prosoft are free and clear of any encumbrance and are legally owned or used by Prosoft.

 Article 8 Intellectual property rights 
  

	8.1	Prosoft is the legitimate owner or user of the Intellectual Property Rights. 

  

	8.2	Schedule 1 of this Annex contains the complete and accurate list and brief description of all Mark registrations, application registrations, Patents and Patent applications as well
as Copyrights of registrations. 

  

	8.3	All Marks, Copyrights and Patents registered with related Chinese authorities comply with related Chinese laws and are effective and enforceable. 

 Article 9 Debtors 
  

	9.1	Prosoft has the right to claim the creditor’s rights (including accounts receivable) listed in the Accounts or accounting records. 

 Article 10 Impact of equity transfer 
 The Closing of the Equity Transfer
under this Contract will not: 
  

	10.1	Bereave Prosoft of its assets, licenses and preferences as of the execution date of this Contract, including, but not limited to, any right in any proprietary intellectual property
rights; or 

  

	10.2	Conflict with any agreement or arrangement to which Prosoft is a party or any legal or administrative requirement binding upon Prosoft or constitute a default.

 Article 11 Agreement 
  

	11.1	Except the material contracts as listed in Schedule 2, there are no contracts whose value accounts for more than 5% of the annual total income or net profits of the Company.

  

	11.2	Prosoft or Party B does not know that any contract, agreement, arrangement or obligation to which Prosoft is a party is invalid or exists any reason for its termination or
cancellation. 

  

	11.3	Any party with which Prosoft enters into a contract, agreement or arrangement does not materially default under such contract, agreement or arrangement. To the knowledge of the
Company, there exists no such default. 

  

	11.4	Prosoft is not a party to an abnormal contract, agreement, arrangement or undertaking, nor undertakes any obligation in it. These abnormal contracts, agreements, arrangements or
undertakings include, but not limited to: 

  

	11.4.1	The contracts, agreements, arrangements or undertakings not signed in the normal course of business; 

  

	11.4.2	The contracts, agreements, arrangements or undertakings not signed through normal fair transactions; 

  

	11.4.3	The contracts, agreements, arrangements or undertakings limiting Prosoft’s freedom in all or part of its business operations or in the use of any of its properties at its own
decision, unless they have been disclosed to Party A and obtained Party A’s consent; or 

  

	11.4.4	The contracts, agreements, arrangements or undertakings Prosoft cannot perform on time or has to perform by spending excessive or abnormal monies or efforts.

 Article 12 Creditors 
 Prosoft has made payments to its creditors within the time as agreed upon with them. To the knowledge of Prosoft, its customers or suppliers have not: 
  

	12.1	Stopped the transactions with Prosoft or stopped supply to Prosoft; 

  

	12.2	Substantially reduced the transactions with Prosoft or substantially reduced supply to Prosoft; or 

  

	12.3	Substantially changed the terms of its proposed transactions with Prosoft or its proposed supply to Prosoft. 

 Article 13 Licenses and compliance with laws 
  

	13.1	Prosoft has obtained all licenses, permits, approvals and other authorizations necessary for Prosoft to own, operate and use all its assets, be engaged in its current businesses and
sell and provide its current products and services. All such licenses, permits, approvals and authorizations remain in full effect. 

  

	13.2	Prosoft has been engaged in its businesses and corporate affairs in accordance with all applicable Chinese laws and not violated any Chinese law applicable to the businesses of the
Company. Such violation may have a material adverse impact on Company’s assets and businesses. 

 Article 14 Employees 
  

	14.1	Except the management personnel and core technical personnel as listed in Schedule 3, Prosoft has no other employees whose resignation will have a material adverse impact on the
normal production and operations of Prosoft. 

  

	14.2	Prosoft has not received any resignation notice from any of the management personnel or core technical personnel as listed in Schedule 3. 

  

	14.3	As far as all the employees of Prosoft are concerned, Prosoft: 

  

	14.3.1	Has complied with the laws of the People’s Republic of China and local labor regulations; 

  

	14.3.2	Has signed labor agreements and confidentiality agreements with employees; 

  

	14.3.3	Has no outstanding labor disputes; 

  

	14.3.4	Has no liability for any payable but unpaid economic compensation relating to the termination of employment relationship or other similar compensation or indemnity in connection
with employment relationship. 

  

	14.4	After the Closing of the Equity Transfer under this Contract is completed, Prosoft will manage the salaries and benefits of its employees according to the standard as agreed upon by
both parties. 

  

	14.5	Prosoft has paid in full the endowment, medical and unemployment insurances as well as all the other social insurances or employee benefits required by the laws.

 Article 15 Liabilities 
  

	15.1	Debts 

 Since the Reference Date, Party B or Prosoft has no outstanding
loan, borrowing or debts of a borrowing nature and has not agreed to incur or create any loan, borrowing or debts of a borrowing nature, except the debts already disclosed to Party A. 
  

	15.2	Third-party guarantees 

 Since the Reference Date, Party B or Prosoft has
not become a party to mortgage, pledge, guarantee, compensation or other agreements by providing guarantees for the obligations of others or creating financial or other obligations. 
 Article 16 Bankruptcy 
  

	16.1	Prosoft has no bankruptcy or insolvency situation. 

 Article 17 Lawsuits
and compliance with laws 
  

	17.1	Lawsuits 

 Party B and Prosoft are not involved in any civil, criminal,
arbitration, administrative or other proceedings or disputes. To the knowledge of Party B and Prosoft, there are currently no civil, criminal, arbitration, administrative or other proceedings or disputes pending or threatened against Party B and
Prosoft. 
  

	17.2	Compliance with laws 

 Party B and Prosoft have complied with all
applicable Chinese laws and regulations in all material respects. 
 Article 18 Documents and reports 
  

	18.1	Prosoft has operated its businesses in accordance with its articles of association and business license in all respects. 

  

	18.2	Related legal documents have been filed or submitted by Prosoft in accordance with the requirements of industrial and commercial administration department or any other department.

 Article 19 Foreign exchange 
  

	19.1	There are no violations of Chinese regulations governing foreign exchange that may result in any fine, penalty or other injunction (including revoke of Company’s business
license) to Party B or Prosoft. 

 Article 20 Other institutions 
  

	20.1	Prosoft does not have any other branch or office nor holds any equity or other long-term investment in any other company or any other enterprise, except those as listed in Schedule
4. 

  

	20.2	As far as each subsidiary as listed in Schedule 4, Party A restates all the representations and warranties in this Annex 4 as if the company in this article is a branch.

 Schedule 1 Intellectual Property Rights 
 [None] 

 Schedule 2 Lists of Important Contracts 

 Schedule 3 Name Lists of Management Personnel and Core Technical Personnel 

 Schedule 4 Subsidiaries 
  

									
	 Company name
	  	 Shareholder
	  	Equity percentage	 	Board member	  	General Manager
	 Shenzhen Prosoft Software Technology Co., Ltd.
	  	Beijing Prosoft Software Technology Co., Ltd.	  	90%	 	Zhang Hong	  	Qiao Sheng
		  	Wang Jiancai	  	10%	 		  	
	 Shenzhen Zhizhuo Technology Co., Ltd.
	  	Beijing Prosoft Software Technology Co., Ltd.	  	90%	 	Zhang Hong	  	Qiao Sheng
		  	Shenzhen Tongyun Science & Technology Industry Co., Ltd.	  	10%	 	  
	 Shanghai Suobo Software Co., Ltd.
	  	Beijing Prosoft Software Technology Co., Ltd.	  	90%	 	Zhang Hong	  	Zhu Xinyu
		  	Zhang Hong	  	10%	 	  

 Signature page 
  

			
	Worksoft Creative Software Technology Ltd.
		
	 Signature:
	 	 /s/ Chen Shuning

	 Name:
	 	
	 Title:
	 	
	
	Shenzhen Yungong Investment Co., Ltd.
		
	 Signature:
	 	/s/ Zhou Zhanhong
	 Name:
	 	
	 Title:
	 	
	
	Zhang Hong
	 Signature:
	 	 /s/ Zhang Hong

	
	Chen Wei
	 Signature:
	 	 /s/ Chen Wei

	
	Ma Li
	 Signature:
	 	 /s/ Ma Li

	
	Zhao Lin
	 Signature:
	 	 /s/ Zhao LinEnglish Translation of Asset Transfer Agreement dated as of December 1, 2006

 Exhibit 10.8 
 English Translation 
 Asset Transfer Agreement 
 Worksoft Creative Software Technology Ltd. 
 AND 
 Beijing SunBridges Technologies Development Co., Ltd. 
 December 1, 2006 

 Contents 
  

					
	 Article 1
	  	Definitions	  	3
			
	 Article 2
	  	Transfer Object	  	4
			
	 Article 3
	  	Transfer Price	  	4
			
	 Article 4
	  	Initial Closing	  	4
			
	 Article 5
	  	Further Closing	  	5
			
	 Article 6
	  	Payment of Transfer Price	  	5
			
	 Article 7
	  	Transferee’s Obligations	  	6
			
	 Article 8
	  	Transferor’s Obligations	  	6
			
	 Article 9
	  	Representations and Warranties	  	7
			
	 Article 10
	  	Preconditions for Initial Closing	  	8
			
	 Article 11
	  	Non-competition	  	8
			
	 Article 12
	  	Profit/loss Delimiting and Business Continuity	  	9
			
	 Article 13
	  	Intellectual Property Rights	  	11
			
	 Article 14
	  	Confidentiality	  	11
			
	 Article 15
	  	Defaulting Liabilities	  	11
			
	 Article 16
	  	Force Majeure	  	11
			
	 Article 17
	  	Notices	  	12
			
	 Article 18
	  	Applicable Law	  	12
			
	 Article 19
	  	Resolution of Disputes	  	12
			
	 Article 20
	  	Effectiveness	  	12
			
	 Article 21
	  	Miscellaneous	  	13

 THIS AGREEMENT is entered into by and between the parties below in Beijing as of December 1, 2006: 
 Worksoft Creative Software Technology Ltd. (hereinafter referred to as “Transferee”) 
 Legal address: 3F, No.8 Building, Zhongguancun Software Park, 8 Dongbeiwang West Road, Haidian District, Beijing 
 Beijing SunBridges Technologies Development Co., Ltd. (hereinafter referred to as “Transferor”) 
 Legal address: Rm.203, No.1
Building, 3 Huayuan Road, Haidian District, Beijing 
 WHEREAS, 
  

	1.	The Transferor intends to transfer part of its operational assets and software suite-related businesses, including all the accounts receivable and fixed assets ended
October 31, 2006 as well as all net profits after October 31, 2006, to the Transferee, and the management and implementation teams of the Transfer Object will also join in the Transferee; 

  

	2.	The Transferee intends to purchase the Transferred Assets and accept all the management and implementation teams of the Transfer Object. 

 NOW, THEREFORE, the Transferee and the Transferor, through friendly negotiations, hereby agree as follows: 
 Article 1 Definitions 
 Whenever used in this Agreement, the following terms shall have the
following meanings, unless the context otherwise requires: 
  

	1.1	“Transferred Assets” means the Transferred Assets as defined in Article 2 “Transfer Object”, i.e. the operational assets owned by the Transfer Object.

  

	1.2	“This Agreement” means this Asset Transfer Agreement signed by both parties, including all annexes hereto as well as any and all amendments or supplements as may be made
from time to time to this Agreement. 

  

	1.3	“Initial Closing” means the delivery of the Transferred Assets, transfer of the project contracts of the Transfer Object, changed labor contracts signed by all management
and implementation teams of the purchased object with the Transferee as well as payment of first installment of the Transfer Price, as set forth in Article 4 “Initial Closing”. 

  

	1.4	“Further Closing” means the transfer of ownership of the Transferred Assets as well as the payment of the remaining portion of the Transfer Price by the Transferee to the
Transferor based on the transfer of Transferred Assets and project contracts to the Transferee and the joining of the management and implementation teams of the Transfer Object in the Transferee, as set forth in Article 5 “Further
Closing”. 

  

	1.5	“Initial Closing Date” means December 1. The obligations of the Transferor shall be realized on the Initial Closing Date. Both parties may specify in writing other
time as Initial Closing Date according to the performance of this Agreement. 

	1.6	“Further Closing Date” is to be determined by both parties according to the time when all the main customer contracts expected to be signed by the Transferor in 2007 or
other Comverse service contracts with a similar contract value and gross profit margin as listed in Annex 3 are signed and all the service contracts being implemented by the Transferor as listed in Annex 3 are transferred to the Transferee. Further
Closing shall be performed on Further Closing Date. Both parties may specify in writing other time as Further Closing Date according to the performance of this Agreement. 

  

	1.7	“Transfer Price” means the consideration, as agreed upon by both parties, for the Transfer Object payable by the Transferee to the Transferor, i.e. the Transferee will pay
a total amount of RMB 2 million to the Transferor by installments. 

  

	1.8	“Profit/loss Delimiting Reference Date” means October 31, 2006. Both parties agree that this date is the Profit/loss Delimiting Reference Date.

  

	1.9	“Third Person” means a natural person, legal person or other entity which is not a party to this Agreement. 

  

	1.10	“China” means the People’s Republic of China and for the purpose of this Agreement, excludes Hong Kong SAR, Macao SAR and Taiwan. 

  

	1.11	“Chinese Laws” means the laws, regulations and administrative rules or other administrative decrees and decisions promulgated by Chinese legislation organs and government
departments, which are now effective and will be implemented after this Agreement becomes effective. 

 Article 2 Transfer
Object 
 The Transfer Object under this Agreement includes: 
  

	2.1	The Transferee intends to purchase the fixed assets currently being used by the Transfer Object (a list is given in Annex 1), its accounts receivable (a list is given in Annex 2)
and other operational assets, all service contracts currently being implemented by the Transfer Object and the main customer contracts expected to be signed by the Transferor in 2007 (a list is given in Annex 3) or other Comverse service contracts
with a similar contract value and gross profit margin pursuant to this Agreement (“Transfer Object”). 

  

	2.2	According to this Agreement, the management and implementation teams (a name list is given in Annex 4) of the Transfer Object will also join in the Transferee.

 Article 3 Transfer Price 
 The Transferee and the Transferor agree that the consideration for the Transferred Assets under this Agreement is RMB 2 million, which shall be paid in two installments by the Transferee to the account designated by the Transferor or
in the manner as required by the Transferor. 
 Article 4 Initial Closing 
 Both parties confirm that the Initial Closing Date of the transaction under this Agreement is December 1. 
  

	4.1	Payment of First Installment of Transfer Price 

 Within 10 workdays after the Initial Closing Date, the Transferee shall pay the first installment of the Transfer Price,
i.e. RMB 1,000,000, the account designated by the Transferor. 
  

	4.2	Initial Closing of Transferred Assets 

 Both parties agree that the
ownership of the Transferred Assets as listed in Annex 1 and the accounts receivable as listed in Annex 2 will be handed over to the Transferee as of the Initial Closing Date and the Transferee will be held responsible for the damage risks of the
Transferred Assets. The Transferor shall complete the handover of the Transferred Assets on this date. 
  

	4.3	Transfer of Contracts 

 The service contracts being implemented as listed
in Annex 3 shall be transferred to the Transferee by the Transferor on the Initial Closing Date. As from the Initial Closing Date, the Transferee will substitute the Transferor to be a party to such contracts and enjoy and undertake the rights and
obligations under such contracts. The Transferor will not enjoy and undertake the rights and obligations under such contracts as a party to them. 
  

	4.4	Management and Implementation Teams 

 Both parties agree that as of the
Initial Closing Date, the termination agreements on the original labor contracts between the Transferor and the management team become effective and the changed new labor contracts between the Transferee and the management team become effective.;
within 30 days after the Initial Closing Date, the termination agreements on the original labor contracts between the Transferor and the implementation team become effective and the changed new labor contracts between the Transferee and the
implementation team become effective. As from the effective dates as specified in labor contracts, management and implementation teams become the formal employees of the Transferee. The rights and obligations of the employees involving the transfer
of labor relations in the management and implementation teams that arise from the compliance with and performance of labor contracts are also divided according to the effective dates of labor contracts, i.e. enjoyed or undertaken by the Transferor
and the Transferee respectively. After acquisition, the main management team members Lu Guangming and Chen Lu of the Transferor shall sign 3-year labor contracts with the Transferee (in the format as given in Annex 5) and undertake non-competition
terms in work contracts. 
 Article 5 Further Closing 
  

	5.1	Both parties confirm that the Further Closing Date of the transaction under this Agreement is the date when all the main customer contracts expected to be signed by the Transferor
in 2007 or other Comverse service contracts with a similar contract value and gross profit margin as listed in Annex 3 are signed and all the service contracts being implemented by the Transferor as listed in Annex 3 are transferred to the
Transferee. 

  

	5.2	On the Further Closing Date, if the Transferor performs all the transfer obligations under this Agreement, the Transferee shall pay the second installment of the Transfer Price to
the Transferor pursuant to Article 6 hereof. 

 Article 6 Payment of Transfer Price 
 Both parties agree that the Transferee will pay the Transfer Price to the Transferor in the following way: 

	6.1	First installment: within 5 workdays after the Initial Closing Date, the Transferee shall pay RMB 1,000,000 to the Transferor. 

  

	6.2	Second installment: within 5 days after the Further Closing Date, the Transferee shall pay RMB 1,000,000 to the Transferor. If the following situations exist on the basis of the
result of the audit conducted by the accounting firm designated by the Transferee over the Transferor, the said payment shall be adjusted accordingly: 

  

	1)	The audited amount of the Transferred Assets is above 5% lower than the amount of the Transferred Assets of the Transferor as of October 31, 2006 provided by the Transferor;

  

	2)	The audited actual net profits for November and December 2006 are above 5% lower than the expected net profits provided by the Transferor; 

  

	3)	On the Further Closing Date, the accounts receivable whose age exceeds 270 days and which already exist on December 31, 2006 will be recorded as bad debts.

 Article 7 Transferee’s Obligations 
  

	7.1	The Transferee shall pay the Transfer Price to the Transferor on time and in full in the manner and amount as set forth herein. In case of special circumstances, payment may be
extended by 10 days. Thereafter, the Transferee shall pay the Transferor an overdue fine at a daily rate of 0.021% of overdue amount. 

  

	7.2	After the Initial Closing Date, the Transferee takes possession of the Transferred Assets. The Transferee shall exercise due care in respect of the Transferred Assets and itself
bear the damage and loss risk of the Transferred Assets from the Initial Closing Date to Further Closing Date. If this transaction is unsuccessful, the Transferee shall be obliged to return the Transferred Assets and project contracts that are in a
good condition to the Transferor. 

  

	7.3	The Transferee shall fully perform the contractual obligations that shall be performed by the Transferor under the service contracts that are being implemented, as listed in Annex
3. 

  

	7.4	The Transferee shall timely sign labor contracts with the management and implementation teams of the Transfer Object and substitute the Transferor to continue to perform related
labor contracts. Without the consent of relevant employees, the Transferee shall not change the contents of labor contracts without permission (except name of employer) and the length of service of the management and implementation teams of the
Transfer Object with the Transferor shall be the length of service with the Transferee. 

 Article 8 Transferor’s
Obligations 
  

	8.1	Before the Transferor hands over the Transferred Assets to the Transferee, it shall try to maintain the good working condition of the Transferred Assets. The Transferor shall hand
over the right of possession of the Transferred Assets to the Transferee on the Initial Closing Date. 

  

	8.2	The Transferor shall try its best to assist the Transferee in completing the transfer of the project contracts included in the Transfer Object. The Transferee and the Transferor
shall jointly issue the “Letter of Inquiry on Contract Transfer” to related customers so that project users directly sign contracts with the Transferee. 

	8.3	The Transferor shall complete all the internal and external approval, permit, filing and other procedures as being necessary to perform this Agreement and realize closing.

  

	8.4	The Transferor shall cause the project management and implementation teams to sign changed labor contracts with the Transferee; 

  

	8.5	The Transferor shall issue a receipt voucher to the Transferee within 5 workdays of receiving the Transfer Price paid by the Transferee. 

 Article 9 Representations and Warranties 
  

	9.1	The Transferee hereby represents and warrants to the Transferor that: 

  

	9.1.1	The Transferee is a company incorporated and existing under Chinese laws and capable of independently exercising the rights under this Agreement and performing the obligations under
this Agreement; 

  

	9.1.2	From its founding until now, the Transferee has operated lawfully, has no significant illegal acts and has not been given serious administrative penalties; 

 

	9.1.3	The execution and performance of this Agreement by the Transferee do not violate its articles of association, rules or other corporate regulatory documents, or any contract,
agreement or other binding document signed by the Transferee with a third person, or any law, regulations, rules or any judgment, award, order or decision issued by any court, arbitration tribunal or government agency possibly applying to the
Transferee and this Agreement; 

  

	9.1.4	The Transferee has handled all the internal and external approval, registration or filing procedures as necessary to perform this Agreement and realize closing;

  

	9.1.5	The Transferee has enough funds to pay the Transfer Price to the Transferor in the manner and at the time as specified herein and the Transferee has no actual or threatened event
that may affect its ability of performing this Agreement. 

  

	9.2	The Transferor hereby represents and warrants to the Transferee that: 

  

	9.2.1	The Transferor is a limited liability company incorporated and existing under Chinese laws and capable of independently exercising the rights under this Agreement and performing the
obligations under this Agreement; 

  

	9.2.2	From its founding until now, the Transferor has operated lawfully, has no significant illegal acts and has not been given serious administrative penalties; 

 

	9.2.3	The execution and performance of this Agreement by the Transferor do not violate its articles of association, rules or other corporate regulatory documents, or any contract,
agreement or other binding document signed by the Transferor with a third person, or any law, regulations, rules or any judgment, award, order or decision issued by any court, arbitration tribunal or government agency possibly applying to the
Transferor and this Agreement; 

	9.2.4	The Transferor lawfully owns the Transferred Assets and has not created any guarantee, mortgage, pledge or other third-party interest on the Transferred Assets. The ownership of the
Transferor over the Transferred Assets is not challenged by a third person and free of any lawsuit, arbitration application or administrative appeal made with respect to ownership dispute; 

  

	9.2.5	The business contracts that are being implemented and will be signed in 2007 as listed in Annex 3 have been signed or will be signed by the Transferor in accordance with law during
its normal course of business after reaching a mutual agreement with other parties and are free of any fraudulence, threat or otherwise that may affect or challenge the validity of contracts. Business contracts are legal, valid and binding to both
parties. The Transferor has not subcontracted or transferred business contracts and/or the rights thereunder to any third party in any way, and has not defaulted under these contracts; 

  

	9.2.6	The data with respect to the Transfer Object disclosed by the Transferor to the Transferee has been prepared in accordance with the principles of truthfulness and fairness. The
error in the amount of the Transferred Assets does not exceed five percent; 

  

	9.2.7	The Transferor has no claims and liabilities concerning the business contracts as well as management and implementation teams that shall be disclosed, but not disclosed and has no
lawsuit, arbitration or administrative appeal with respect to business contracts as well as management and implementation teams; 

  

	9.2.8	To the knowledge of the Transferor, there are currently no threatened challenges or lawsuits against the Transferor and the Transferred Assets. 

 Article 10 Preconditions for Initial Closing 
 The
realization of Initial Closing requires all the following conditions to be fulfilled: 
  

	10.1	The formation, effectiveness and validity of this Agreement is not challenged, restricted or prohibited by any court, arbitration tribunal, government agency or other competent
institution; 

  

	10.2	Both parties have completed all the internal approval procedures requisite for closing in accordance with the provisions of this Agreement and their respective articles of
association. 

  

	10.3	The representations and warranties made by both parties under this Agreement are true and effective on the Initial Closing Date. As of the Initial Closing Date, each party gives the
other party a written confirmation proving that its representations and warranties are still true and effective. 

 Article
11 Non-competition 
  

	11.1	After the Initial Closing Date, the Transferor shall not be engaged in the businesses identical or similar to those in the business contracts of the Transfer Object and cause its
subsidiaries and affiliates to stop operating such businesses; 

  

	11.2	After the Initial Closing Date, the Transferor shall not invest to set up any company or other entity engaged in software suite business or similar business, purchase the equity of
such company or entity or purchase the assets used to operate such businesses; 

	11.3	After the Initial Closing Date, the Transferor shall take reasonable measures to cause its subsidiaries and affiliates to stop software suite or similar business or limit such
companies to invest in any form of other entity that may be competitive with the Transferor; 

  

	11.4	After the Initial Closing Date, if the Transferor obtains any commercial opportunity of any software business and other software suite business relating to the customers in relation
to the contracts as listed in Annex 3, or gets any information that may bring the said commercial opportunity, the Transferor shall first provide such opportunity or information to the Transferee. Before the Transferee waives such opportunity in
writing, the Transferor shall not use such opportunity to be engaged in any form of business operations; 

  

	11.5	After the Initial Closing Date, the Transferor shall not use the information relating to software suite business in its possession for any commercial purpose;

  

	11.6	If the Transferor does not perform its obligations in this Article, thus causing losses to the Transferee, the Transferor shall timely make sufficient and effective compensation to
the Transferee, including, but not limited to, the actual commercial losses of the Transferee arising from Transferor’s default; 

  

	11.7	Within 2 years after the Initial Closing Date: without the prior written consent of the Transferee, whether direct or indirect, the Transferor shall not employ, engage or recruit
any employee of the management and implementation teams of the Transfer Object as listed in Annex 4 and sign a contract with him or her, or solicit, entice or persuade any such employee to terminate employment relationship with the Transferee or
violate employment terms; likewise, without the prior written consent of the Transferor, whether direct or indirect, the Transferee shall not employ, engage or recruit any employee of the Transferor outside the management and implementation teams of
the Transfer Object as listed in Annex 4 and sign a contract with him or her, or solicit, entice or persuade any such employee to terminate employment relationship with the Transferor or violate employment terms. 

 Article 12 Profit/loss Delimiting and Business Continuity 
  

	12.1	Profit/loss Delimiting 

  

	12.1.1	The profit/loss arising from the business development of the Transfer Object ended on the Profit/loss Delimiting Reference Date shall be owned and borne by the Transferor,
including: 

  

	(1)	The incomes arising from the performance of related business contracts by the Transferor, including business income from completed projects and the income confirmed for the projects
still not completed on the reference date on the basis of business completion percentage, as of the Profit/loss Delimiting Reference Date, but excluding the accounts receivable ended on October 31 in Annex 2; 

  

	(2)	The costs and expenses arising from the performance of related business contracts by the Transferor, including the costs and expenses that have occurred and the expenses that have
not occurred but shall be borne by the Transferor according to accrual basis and matching principle, as of the Profit/loss Delimiting Reference Date; 

	(3)	Any government taxes, charges and surtaxes that shall be borne by the Transferor as of the Profit/loss Delimiting Reference Date. 

  

	12.1.2	After the Profit/loss Delimiting Reference Date, the profit/loss arising from the business development of the Transfer Object shall be owned and borne by the Transferee.

  

	12.2	Business Continuity 

  

	12.2.1	To ensure customer interests and maintain business continuity, the Transferor agrees to transfer the outstanding service contracts in Annex 3 to the Transferee and assist the
Transferee in signing the contracts with the users of these projects and changing the signing party. 

  

	12.2.2	The Transferor accepts the entrustment by the Transferee to handle the matters relating to profit/loss as mentioned in Article 12.1 on behalf of the Transferee from the reference
date to the completion of transfer of contracts. 

 Article 13 
 Intellectual Property Rights 
  

	13.1	The Transferor legally owns the intellectual property rights in connection with the Transfer Object, including, without limitation, all technical results arising from the
implementation of the contracts as listed in Annex 3 (but excluding the intellectual property rights belonging to customers according to contracts) as well as its existing software development environment results. The Transferor has taken all
reasonable measures to preserve the said intellectual property rights, including, but not limited to, taking all reasonable steps to preserve the confidentiality of all business-related technologies, confidential data and trade secrets. There are no
threatened claims of third parties with respect to any infringement, illegal use or unauthorized use. 

  

	13.2	The Transferor has not licensed the said intellectual property rights to any third party in any way whatsoever. After the Initial Closing Date, the Transferor shall not license the
said intellectual property rights to any third party in any way whatsoever. 

  

	13.3	To the knowledge of the Transferor, the said intellectual properties are not infringed on or illegally used as of the date of this Agreement and have not been infringed on or
illegally used in past three years. 

 Article 14 Confidentiality 
  

	14.1	Without the prior written consent of the other party, the Transferee or the Transferor shall keep confidential the confidential matters obtained from the other party or by other
means and shall not provide or disclose them to any third person. 

  

	14.2	Without the prior written consent of the other party, neither party shall disclose to any third party this Agreement, any content of this Agreement, any publicly unavailable
information obtained by it from the other party for the purpose of this Agreement as well as any negotiations made by both parties for the purpose of this Agreement. 

  

	14.3	The provisions under this Article shall survive the expiry of this Agreement until the said information is or becomes part of public knowledge. 

 Article 15 Defaulting Liabilities 
 In the event that
the Transferee or the Transferor defaults under this Agreement, thus causing losses to the other party, and such default results in any of the situations as set forth in Article 16 hereof, the non-defaulting party shall be entitled to terminate this
Agreement and claim all its actual losses resulting from such default against the defaulting party, and the defaulting party shall make compensation within 30 days after the non-defaulting party makes a written compensation request. 
 Article 16 Force Majeure 
  

	16.1	An Event of Force Majeure means any event that cannot be reasonably predicted and whose happening and consequences are unavoidable and insurmountable when both parties sign this
Agreement, including, but not limited to, action and omission of government and army, natural phenomenon, earthquake, fire, flood, turmoil or war. 

  

	16.2	 Should either party be prevented from performing all or part of its obligations under this 

	 	 
Agreement owing to an Event of Force Majeure, it shall be exempt from the defaulting liabilities arising therefrom, but it shall, within 10 days thereafter,
notify the other party in writing of such event. The prevented party shall make reasonable efforts to reduce losses, remove the impact of such event and resume the performance of this Agreement as early as possible after such event finishes.

 Article 17 Notices 
  

	17.1	Any notice, demand or request required or permitted to be given pursuant to this Agreement shall be in writing and sent by hand delivery, registered mail or fax.

  

	17.2	The contacts of both parties are as follows: 

 Worksoft Creative
Software Technology Ltd.: Zhou Ying 
 Mailing address: 3F, No.8 Building, Zhongguancun Software Park, Haidian District, Beijing 
 Tel.: 010-82825266 
 Fax: 010-82825268 
 Beijing SunBridges Technologies Development Co., Ltd.: Chen Lu 
 Mailing address: Rm.203, No.1 Building, 3 Huayuan Road, Haidian District, Beijing 
 Tel.: 13301115550 
  

	17.3	Such notice, demand or request shall be deemed to be served on the recipient: if by fax, on the sending date; if by hand delivery or registered mail, at the time when the recipient
signs for receipt, unless the recipient proves that it has not received such notice, demand or request. 

 Article 18
Applicable Law 
 The formation, validity, performance, interpretation and termination of and resolution of disputes in connection with this Agreement
shall be governed by the laws of China, excluding conflict rules of it. 
 Article 19 Resolution of Disputes 
  

	19.1	Any dispute arising from or in connection with this Agreement shall be resolved by both parties through friendly negotiations. In case no resolution can be reached by both parties
within 60 days after friendly negotiations commence, either party may refer such dispute to China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration in Beijing in accordance with CIETAC’s arbitration
rules then in effect. Arbitral award shall be final and binding upon both parties. 

  

	19.2	During arbitration, both parties shall continue to perform the obligations under this Agreement except for the obligations and matters involved in a dispute.

 Article 20 Effectiveness 
 This Agreement shall become effective as of the date when it is signed by duly authorized representatives of both parties and affixed with their respective common seals. 

 Article 21 Miscellaneous 
  

	21.1	This Agreement supersedes all prior proposals, representations, warranties, agreements or undertakings, whether oral, written or otherwise, between both parties with respect to the
subject matter hereof. 

  

	21.2	Should any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect at any time, such provision shall not affect the validity, legality and
enforceability of the remainder of this Agreement and the Transferee and the Transferor shall negotiate as early as possible to substitute the said invalid, illegal or unenforceable provision with a valid, legal and enforceable one.

  

	21.3	Where Chinese laws change after this Agreement becomes effective and before the Closing Date and the Closing thus violates Chinese laws, the Transferee and the Transferor shall
negotiate in time to amend this Agreement for legal closing, but in no case will such changes of Chinese laws result in the invalidity or termination of this Agreement or serve as the basis for either party to terminate this Agreement.

  

	21.4	In case of anything not covered herein, both parties may sign a supplementary agreement through negotiations, which shall made in writing and go into effect after it is signed by
the duly authorized representatives of both parties and affixed with their respective official seals. Such supplementary agreement shall have the same effect as this Agreement. 

  

	21.5	Any amendment to this Agreement may be proposed by either party, but both parties shall reach an agreement and sign a written instrument. In case no agreement is reached by both
parties, the validity of this Agreement shall not be affected thereby; if either party terminates this Agreement for this reason, it shall be deemed defaulting under this Agreement and the other party may terminate this Agreement and claim its
losses. 

  

	21.6	All the taxes and other charges arising from the execution and performance of this Agreement shall be borne by both parties respectively in accordance with laws and if not
specifically specified by laws, borne by both parties through negotiations. 

  

	21.7	This Agreement is executed in duplicate in Chinese, one copy for each party. Both copies shall be equally authentic. 

 IN WITNESS WHEREOF, both parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the date first above written.

 [Signature Page] 
  

							
	Transferee: Worksoft Creative Software Technology Ltd. (seal)	  	
	Authorized representative:	  	 /s/ Chen Shuning
	  		  	
		  	 (signature)
	  		  	

							
				
	Title:	  		 		 	
	Date:	  		 		 	

							
			
	Transferor: Beijing SunBridges Co., Ltd. (seal)	 		 	
	Authorized representative:	  	 /s/ Feng Xing
	 		 	
		  	 (signature)
	 		 	

							
				
	Title:	  		 		 	
	Date	  		 		 	

 Annex 1: List of Assets – Fixed Assets 
 Annex 2: Accounts Receivable 
 Annex 3: Service Contracts being Implemented and Expected to Be Signed 
 Annex 4: List of Management and Implementation Personnel 
 Annex 5: Labor
Contract of Management Personnel

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