Document:

Long-term Sales Contract

 Exhibit 10.25 
 English translation 
 LONG-TERM SALES CONTRACT 
  

			
		  	Contract No. XS120070034
		  	Execution Place: Jiangning District, Nanjing
		  	Execution Date: February 5, 2007
		
	Seller: CEEG (Nanjing) PV-Tech Co., Ltd.	  	Buyer: Jiangsu ET Solar Industry Limited
	 Add.: 123 Focheng West Road, Jiangning
 Economic & Technical Development Zone,
 Nanjing
	  	Add.: JiuLong Industry Zone, Taizhou, Jiangsu
	Postcode: 211100	  	Postcode: 225300
	Legal representative: Lu Tingxiu	  	Legal representative: Li Keshan
	Proxy: Chen Haiyan	  	Proxy: Wang Xinghua
	Tel: 025-52766620	  	Tel: 0523-6585088
	Fax: 025-52766882	  	Fax: 0523-6585000

 Through negotiation, the Buyer and the Seller enter into this contract, whereby the Buyer agrees to buy and the
Seller agrees to sell the under mentioned cells according to the terms and conditions stipulated below: 
 1. Goods Description 
  

									
	 Name and Specifications
	  	 Term of Delivery
	  	 Quantity
 (MW)
	  	 Unit Price
 RMB/W
	  	 Total Amount
 (RMB)

					
	 crystalline silicon cell.
 For
details on the parameter please refer to the Appendix 1 which is an important part of this Contract.
	  	From March, 2007 to December, 2008	  	94	  	RMB 27.5	  	About 2,585,000,000
	  
 Remark: 1. Temporary price shall be RMB 27.5/ W. Both parties will
review the price in case that the difference between the market price during delivery and contract price exceeds ± 2%.
  
     2. Duration of the Contract: from March, 2007 to December, 2008

 2. Payment Schedule and Conditions 
 2.1 Both parties agree to negotiate for the down payment for 2008 before the end of July, 2007. 
 2.2 The schedule of
delivery of the Seller shall be reasonable. In principle, all goods shall be delivered before 25th of that month. Any adjustment based on the special situations shall be subject to the mutual negotiation by both parties. 
 2.3 The payment shall be made within 5 day after the receipt of delivery notice stipulating the specific quantity. The Seller shall deliver the goods within 5 days after
receipt of the payment. 
 3. Packing Instructions 
 The
goods shall be packed in carton, and the packaging shall meet the requirement of long distance road transportation. And the Seller shall bear the cost of packing. 
 4. Place and Term of Delivery 
 4.1 Place of Delivery: the Seller’s warehouse. 
 4.2 Should the Buyer ask the Seller to make delivery on its behalf, the Buyer shall remit the freight and 
 premium of insurance to the bank account designated by the Seller. The risk of transportation shall be covered by the Buyer. 

 4.3 Delivery Schedule: 
 From March, 2007 to December, 2008 
  

							
	 Term
	  	 Quantity (MV/ month)
	  	Term	  	Quantity(MV/ month)
	 January 2007
	  	0 MW	  	January 2008	  	5 MW
	 February 2007
	  	0 MW	  	February 2008	  	5 MW
	 March 2007
	  	1 MW	  	March 2008	  	5 MW
	 April 2007
	  	1 MW	  	April 2008	  	5 MW
	 May 2007
	  	4 MW	  	May 2008	  	5 MW
	 June 2007
	  	4 MW	  	June 2008	  	5 MW
	 July 2007
	  	4 MW	  	July 2008	  	5 MW
	 August 2007
	  	4 MW	  	August 2008	  	5 MW
	 September 2007
	  	4 MW	  	September 2008	  	5 MW
	 October 2007
	  	4 MW	  	October 2008	  	5 MW
	 November 2007
	  	4 MW	  	November 2008	  	5 MW
	 December 2007
	  	4 MW	  	December 2008	  	5 MW
	 In total 2007
	  	34 MW	  	In total 2008	  	60 MW

 4.4 The Seller shall provide to the Buyer 17% VAT invoice within 15 days after delivery. 
 5. Quality Requirement and Technology Standard 
 5.5 Please refer to
the Appendix 1 for detailed criteria and quality standard. 
 5.6 If the efficiency of the Seller’s cell is lower than the standard efficiency, the
actual efficiency shall take precedence. 
 6. Damage 
 6.1 Transport Breakage 
 0.5% breakage of cells delivered each month is allowed. 
 The Seller shall replace any further broken cells due to packing by the Seller, and shall take correct transport and handling measures to the redelivered cells in accordance with the stipulations of this Contract. The
Seller shall bear the consequential costs, if necessary. 
 If the breakage is caused by carrier’s improper handling or any factor that the Seller
cannot control, this Section should not apply. 
 6.2 Breakage during Packaging Process 
 Subject to the normal industrial operation standard, the following breakage ratio during the packaging process of the solar cells is allowed: 
 -Breakage rate of 2% is allowed, in case that the thickness of the solar cell £220μm . 
 The Seller shall replace any further broken solar cells, and shall take correct transport and handling measures to the redelivered cells in accordance with the
stipulations of this Contract. The Seller shall bear the consequential costs, if necessary. 
 7. Inspections and Claims 
 The Buyer shall check up the goods within 10 days after delivery in accordance with the standard specified hereunder. Any quality claim shall be raised written within 3
days in writing. If the Buyer fails to file the claim within 15 days after collection of the goods, the cells is considered qualified. 
 If the Seller does
not agree with the Buyer, the third party can be appointed by both parties to check up the goods. 
  

 2 

 8. Force Majeure 
 If
any party is unable to perform its contractual liabilities due to any force majeure event, the affected party shall notify the other party within 7 days upon the occurrence of such event, and shall present written evidence issued by the relevant
authority within 15 days upon the end of such events and could partially or wholly exempt from the liability in the light of the impact caused by force majeure. Where an event of force majeure occurs after the party’s delay in performance, the
defaulting party shall not be released from its liabilities. 
 9. Termination of Contract 
 9.1 Upon effectiveness of this Contract, neither party may cancel the Contract without the other party’s consent, otherwise the terminating party shall be liable for
all losses incurred by the other party due to such breach. 
 9.2 This Contract may be terminated only on the following conditions: 
 9.2.1 The Sell fails to perform its supply obligations under this Contract, and fails to fix its non-performance or breach of this Contract within 30 days upon the
Buyer’s requirement. 
 9.2.2 The Buyer fails to discharge its payment obligations hereunder and fails to fix such non-performance or breach of this
Contract within 30 days upon the Seller’s requirement. 
 9.2.3 The other party becomes bankrupt or applies for bankruptcy, or conducts reorganization
or applies for reorganization, or is closing business for rectification. 
 9.3 In case of termination for due cause, the Seller shall refund the down
payment of undelivered goods within 15 days after receipt notice of termination for due cause issued by the Buyer. 
 10. Confidentiality 

The Parties hereto and their employees, agents, representatives and counsel shall treat the terms and conditions under this Contract and any its supplementary
agreements as business secrets and shall not disclose the information to any third party unless upon consent of the other party. Otherwise, the defaulting party shall compensate as much as twice of the direct or indirect losses of the other party.

 11. Integrity Assurance 
 11.1 It shall be viewed as
damage to other party’s interest if either party and its staff directly or indirectly give, in the name of the company or an individual, a gift of money, valuables, securities or provide an improper interest in otherwise forms to any employee
of the receiving party, or either of the Buyer and Seller as well as its staff does, whether in the name of the company or an individual, any transaction similar to that contemplated hereunder with any employee of the other party or any third party
introduced by any employee of the other party. The breaching party shall compensate as much as twice of the direct or indirect losses incurred by the other party by such reason, as well as the liquidated damages amounting to 20% of the total amount
of this Contract per breach (up to RMB 1,000,000). 
  

 3 

 11.2 Any one may reach the Buyer’s counsel, Mr. Xu Changming at 13851647666, or lawyerxucm@hotmail.com
for such issue. 
 12. Settlement of Disputes 
 All
disputes arising from the validity, performance and interpretation of this Contract shall be settled through consultation by both parties. In case no settlement can be reached through consultation, the parties agree that the dispute shall be
submitted to the Higher People’s Court of Jiangsu Province. The relevant expenses (including legal cost, travel expenses, notary fees, cost of adducing evidence, arbitration fees and so on) shall be borne by the losing party. 
 13. Miscellaneous 
 13.1 During the performance of this Contract, the
Buyer may appoint E.T. Solar, an overseas affiliate of the Buyer, to exercise the Buyer’s rights and perform the Buyer’s obligations hereunder. 
 13.2 This Contract shall come into effect upon signature and seal of the parties and shall expire when the both parties have fulfilled their obligations. If the Contract has more than one page, then each page should be sealed on the
perforation. 
 13.3 This Contract shall be executed in four counterparts with same legal effect, with each of the parties hereto holding two; each party
shall send the original copy to the other party within 3 working days upon execution. The copy delivered through telefax shall be as valid as the original. 
 13.4 Any matters not covered in this Contract shall be mutually negotiated by both parties and be set forth in the supplementary agreements, which have the same legal effect as this Contract. 
  

			
	The Buyer: ET Solar Industry Limited	  	The Seller: CEEG (Nanjing) PV-Tech Co., Ltd.
	Company Name: (Seal)	  	Company Name: (Seal)
	Execution Date:	  	Execution Date:

  

 4Long-term Sales Contract

 Exhibit 10.26 
 English translation 
 LONG-TERM SALES CONTRACT 
  

			
		  	Contract No. XS120070005
		  	Execution Place: Jiangning District, Nanjing
		  	Execution Date: February 5, 2007
		
	Seller: CEEG (Nanjing) PV-Tech Co., Ltd.	  	Buyer: Wuxi Guofei Green Power Source Co., Ltd.
	Add.: 123 Focheng West Road, Jiangning Economic & Technical Development Zone, Nanjing	  	Add.: Shuofang industrialized country of Xinqu, Wuxi
	Postcode: 211100	  	Postcode: 214142
	Legal representative: Lu Tingxiu	  	Legal representative: Wu Tianxin
	Authorized Representative:	  	Authorized Representative: Zhang Jie
	Tel: 025-52766620	  	Tel: 0510-5311045
	Fax: 025-52766882	  	Fax: 0510-5311991

 The Buyer and the Seller agree to conduct transactions according to the terms and conditions stipulated below:

 1. Goods Description: 
  

							
	 Name and Specifications
	  	 Term of delivery
	  	 Quantity
 (MW)
	  	 Total Amount
 (RMB)

	Solar cell. For details on the parameter please refer to the Appendix 1 which is also an important part of this Contract.	  	2007	  	30 MW	  	About 1,600,000,000
	  	2008	  	30 MW	  
	
	 Remark: 1. The price from January 2007 to March 2007 shall be fixed to be RMB 27/ W. From April 2007, the parties will review the price
for the coming quarter at the beginning of every quarter. The price agreement between the parties shall be an important part of this Contract.
 2. Duration of the Contract: two years, from January, 2007 to December, 2008

 2. Payment Schedule and Conditions 
 2.1 Down payment: The Buyer shall remit the down payment of RMB 20,000,000 to the bank account as designated by the Seller within 10 days after the effectiveness of the Contract. The down payment shall be deducted
from the last instalment of delivery. 
 2.2 The balance of the contract price: The Seller will deliver the goods in three instalments and the Buyer shall
fulfil the obligations of payment within 20 days of delivery. 
 2.3 Bank account designated by the Seller: (The Seller does not accept other settlement
meanings) Merchant Bank, Jiangning Sub-Branch: 078002380175610001 
 3. Packing Requirements 
 The goods shall be packed in carton, and the packaging shall meet the requirement of long distance road transportation. And the Seller shall bear the cost of packing.

 4. Term of Delivery and Destination 
 4.1 Location of Delivery: the Seller’s warehouse. 
 4.2 Should the Buyer ask the Seller to arrange for
transportation on its behalf, the Buyer shall remit the freight and the premium of insurance to the Seller’s bank account. The risk of transportation shall be covered by the Buyer. 
 4.3 Delivery Schedule: 
 From January 2007 to December 2008 
  

							
	 Term
	  	 Quantity (MV/ month)
	  	 Term
	  	 Quantity(MV/ month)

				
	January 2007	  	0.72 MW	  	January 2008	  	0.72 MW
	February 2007	  	0.96 MW	  	February 2008	  	0.96 MW
	March 2007	  	2.88 MW	  	March 2008	  	2.88 MW
	April 2007	  	2.88 MW	  	April 2008	  	2.88 MW
	May 2007	  	2.88 MW	  	May 2008	  	2.88 MW
	June 2007	  	2.88 MW	  	June 2008	  	2.88 MW
	July 2007	  	2.88 MW	  	July 2008	  	2.88 MW
	August 2007	  	2.88 MW	  	August 2008	  	2.88 MW
	September 2007	  	2.88 MW	  	September 2008	  	2.88 MW
	October 2007	  	2.88 MW	  	October 2008	  	2.88 MW
	November 2007	  	2.88 MW	  	November 2008	  	2.88 MW
	December 2007	  	2.4 MW	  	December 2008	  	2.4 MW
	In total 2007	  	30 MW	  	In total 2008	  	30 MW

 4.4 The Seller shall provide to the Buyer 17% VAT invoice within 3 days after receipt of each installment of
payment. 
 5. Quality Criteria and Technology Standard: refer to the Appendix 1. 
 6. Damage 
 6.1 Transport Breakage 
 0.5% breakage of cells delivered each month is allowed. 
 The Seller shall replace any further broken cells due to packing
by the Seller, and shall take correct transport and handling measures to the redelivered cells in accordance with the stipulations of this Contract. The Seller shall bear the consequential costs, if necessary. 
 If the breakage is caused by carrier’s improper handling or any factor that the Seller cannot control, this Section should not apply. 
 6.2 Breakage during Packaging Process 
 Subject to the normal industrial
operation standard, the following breakage ratio during the packaging process of the solar cells is allowed: 
 -Breakage rate of 2% is allowed, in case that
the thickness of the solar cell £220μm . 
 The
Seller shall replace any further broken solar cells, and shall take correct transport and handling measures to the redelivered cells in accordance with the stipulations of this Contract. The Seller shall bear the consequential costs, if necessary.

  

 2 

 7. Inspections and Claims 
 The Buyer shall inspect the goods within 7 days after delivery in accordance with the criteria specified herein. Any quality claims shall be issued by Buyer in writing in 3 days upon detection, and shall be inspected by a third party agreed
upon by both parties. If the Buyer fails to raise a claim within 10 days after delivery, the Seller’s products shall be deemed as qualified. 
 8.
Force Majeure 
 If any party is unable to perform its contractual liabilities due to any force majeure event, the affected party shall notify the other
party within 7 days upon the occurrence of such event, and shall present written evidence issued by the relevant authority within 15 days upon the end of such events and could partially or wholly exempt from the liability in the light of the impact
caused by force majeure. Where an event of force majeure occurs after the party’s delay in performance, the defaulting party shall not be released from its liabilities. 
 9. Liabilities of Breach 
 Should the Buyer fail to make payment within 20 days of delivery date, the Buyer shall pay
to the Seller a default penalty of 0.05% of the late payment per day, until the Buyer has fulfilled its payment obligations. 
 10. Confidentiality

 The Parties hereto and their employees, agents, representatives and counsels shall treat the terms and conditions under this Contract and any its
supplementary agreements as business secrets, and shall not disclose the information to any third party without consent of the other party. Otherwise, the breaching party shall compensate as much as twice of the direct or indirect losses of the
other party. 
 11. Transfer of Contract 
 Neither party
may, unless upon written consent of the other party, transfer all or part of rights or obligations to the third party. 
 12. Termination 

12.1 Upon effectiveness of this Contract, neither party may cancel the Contract without the other party’s consent, otherwise the terminating party shall be liable
for all losses incurred by the other party due to such breach. 
 12.2 This Contract may be terminated only on the following conditions: 
 12.2.1 The Sell fails to perform its supply obligations under this Contract, and fails to fix its non-performance or breach of this Contract within 30 days upon the
Buyer’s requirement. 
 12.2.2 The Buyer fails to discharge its payment obligations hereunder and fails to fix such non-performance or breach of this
Contract within 30 days upon the Seller’s requirement. 
 12.2.3 The other party becomes bankrupt or applies for bankruptcy, or conducts reorganization
or applies for reorganization, or is closing business for rectification. 
 12.3 In case of termination for due cause, the Seller shall refund the down
payment of undelivered goods within 15 days after receipt notice of termination for due cause issued by the Buyer. 
  

 3 

 13. Integrity Assurance 
 13.1 It shall be viewed as damage to other party’s interest if either party and its staff directly or indirectly give, in the name of the company or an individual, a gift of money, valuables, securities or provide an improper interest
in otherwise forms to any employee of the receiving party, or either of the Buyer and Seller as well as its staff does, whether in the name of the company or an individual, any transaction similar to that contemplated hereunder with any employee of
the other party or any third party introduced by any employee of the other party. The breaching party shall compensate as much as twice of the direct or indirect losses incurred by the other party by such reason, as well as the liquidated damages
amounting to 20% of the total amount of this Contract per breach (up to RMB 1,000,000). 
 13.2 Any one may reach the Buyer’s counsel, Mr. Xu
Changming at 13851647666, or lawyerxucm@hotmail.com for a such issue. 
 14. Settlement of Disputes 
 All disputes arising from the validity, performance and interpretation of this Contract shall be settled through consultation by both parties. In case no settlement can
be reached through consultation, the parties agree that the dispute shall be submitted to the People’s Court of jurisdiction in the place of Seller. The relevant expenses (including legal cost, travel expenses, notary fees, cost of adducing
evidence, arbitration fees and so on) shall be borne by the losing party. 
 15. Miscellaneous 
 15.1 This Contract shall come into effect upon signatures and seals by both parties. If the Contract has more than one page, then each page should be sealed on the
perforation. 
 15.2 This Contract shall be executed in four counterparts with each of the Parties hereto holding two, which shall have the same legal force.
Each party shall send the original copies to the other party within 3 working days upon execution. The copies of this Contract delivered through telefax shall be as valid as the original. 
 15.3 Any matters not covered in this Contract shall be mutually negotiated by both parties and be set forth in the supplementary agreements, which have same legal effect
as this Contract. 
 16. Remarks 
 In case of any
discrepancy among this Contract and other relevant agreements, contracts and meeting minutes previously negotiated by the parties, this Contract shall prevail. 
  

			
	 The Buyer: Wuxi Guofei Green Power Source Co., Ltd.
 Company Name: (Seal)
 Execution Date: February 5, 2007
	  	 The Seller:
 Company Name: CEEG (Nanjing) PV-Tech Co.,
Ltd. (Seal)
 Execution Date: February 5, 2007

  

 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]