Document:

Equity
      Pledge Agreement

     

    between

     

    Beijing
      Ao Hang Construction Material Technology Co., Ltd.

     

    and

     

    Weili
      He

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    This
      Equity Pledge Agreement (the “Agreement”) is entered into on the day of November
      _28_,
      2007
      by and between the following parties:

     

    
      
        	
                Pledgee:

              	
                Beijing
                  Ao Hang Construction Material Technology Co., Ltd.

              
	
                Address:

              	
                1701
                  Yingu Mansion, No. 9 Beisihuan Road, Haidian District, Beijing,
                  China.

              
	
                Pledgor:

              	
                Weili
                  He

              
	Identification
                Card No: 110108195703203459
	
                Address:

              	
                No.6
                  Room, Yard 228, Tiancunshannan, Haidian District, Beijing,
                  China.

              

      

    

     

    WHEREAS,

     

    
      	
              1.

            	
              Weili
                He, the Pledgor, is the citizen of the People's Republic of China
                ("PRC”).
                The Pledgor owns 40% of the Equity Interest in Beijing Xin Ao Concrete
                Co., Ltd. (“XinAo”).
                XinAo is a company registered in Beijing carrying on concrete
                manufacturing business.

            

    

     

    
      	
              2.

            	
              The
                Pledgee, a wholly foreign-owned company registered in Beijing, PRC,
                has
                been licensed by the PRC relevant government authority to carry on
                the
                business of construction material technology. The Pledgee and the
                Pledgor’s subsidiary, XinAo enter into Exclusive
                Technical Consulting and Service Agreement
                (the “Service Agreement”) on November_28_,
                2007.

            

    

     

    
      	
              3.

            	
              In
                order to ensure that the Pledgee collects consulting and service
                fees from
                XinAo, the Pledgor is willing to pledge all its Equity Interest in
                XinAo
                to the Pledgee as a security for the Pledgee to collect technical
                consulting and service fees under the Service
                Agreement.

            

    

     

    In
      order
      to define each Party’s rights and obligations, the Pledgee and the Pledgor
      through mutual negotiations hereby enter into this Agreement based upon the
      following terms:

     

    
      
        	1.	
                DEFINITIONS
                  AND INTERPRETATIONS

              

      

    

     

    Unless
      otherwise provided in this Agreement, the following terms shall have the
      following meanings:

     

    
      	 	
              1.1

            	
              Pledge
                means the full meaning assigned to that term in Article
                2.

            

    

     

    
      	 	
              1.2

            	
              Equity
                Interest means all its 40% equity interests in XinAo legally held
                by the
                Pledgor.

            

    

     

    
      	 	
              1.3

            	
              Rate
                of Pledge means the ratio between the value of the pledge under this
                Agreement and the technical consulting and service fees under the
                Service
                Agreement.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	 	
              1.4

            	
              Term
                of Pledge means the period provided for under Article 3.2
                hereunder.

            

    

     

    
      	 	
              1.5

            	
              Service
                Agreement means the Exclusive Technical Consulting and Service Agreement
                entered into by and between XinAo and the
                Pledgee.

            

    

     

    
      	 	
              1.6

            	
              Event
                of Default means any event in accordance with Article 7
                hereunder.

            

    

     

    
      	 	
              1.7

            	
              Notice
                of Default means the notice of default issued by the Pledgee in accordance
                with this Agreement.

            

    

     

    
      
        	2.	
                PLEDGE

              

      

    

     

    
      	 	
              2.1

            	
              The
                Pledgor agrees to pledge all its Equity Interest in XinAo to the
                Pledgee
                as a guarantee for the technical consulting and service fees payable
                to
                the Pledgee under the Service
                Agreement.

            

    

     

    
      	 	
              2.2

            	
              Pledge
                under this Agreement refers to the rights owned by the Pledgee who
                shall
                be entitled to have priority in receiving payment or proceeds from
                the
                auction or sale of the equity interests pledged by the Pledgor to
                the
                Pledgee.

            

    

     

    
      
        	3.	
                RATE
                  OF PLEDGE AND TERM OF
                  PLEDGE

              

      

    

     

    
      	 	
              3.1

            	
              The
                Rate of Pledge

            

    

     

    
      	 	
              3.1.1

            	
              The
                Rate of Pledge shall be 100%.

            

    

     

    
      	 	
              3.2

            	
              The
                Term of Pledge

            

    

     

    
      	 	
              3.2.1

            	
              The
                Pledge of the Equity Interest under this Agreement shall take effect
                as of
                the date when the Equity Interest under this Agreement are recorded
                in the
                Register of Shareholder of XinAo and registered with the competent
                Administration for Industry and Commerce. The Term of the Pledge
                is the
                same as the term of Service
                Agreement.

            

    

     

    
      	 	
              3.2.2

            	
              During
                the Term of Pledge, the Pledgor shall be entitled to dispose of the
                Pledge
                in accordance with this Agreement in the event that XinAo fails to
                pay
                exclusive technical consulting and service fees in accordance with
                the
                Service Agreement.

            

    

     

    
      
        	4.	
                PHYSICAL
                  POSSESSION OF
                  DOCUMENTS

              

      

    

     

    
      	 	
              4.1

            	
              The
                Pledgee shall be entitled to collect the dividends from the Equity
                Interest.

            

    

     

    
      
        	5.	
                WARRANTIES
                  AND REPRESENTATIONS OF THE
                  PLEDGOR

              

      

    

     

    
      	 	
              5.1

            	
              The
                Pledgor is the legal owner of the Equity
                Interest.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	 	
              5.2

            	
              Except
                as otherwise provided hereunder, the Pledgee shall not be interfered
                with
                by any parties at any time when the Pledgee exercises its rights
                in
                accordance with this Agreement.

            

    

     

    
      	 	
              5.3

            	
              Except
                as otherwise provided hereunder, the Pledgee shall be entitled to
                dispose
                of or assign the Pledge in accordance with this
                Agreement.

            

    

     

    
      	 	
              5.4

            	
              The
                Pledgor will not pledge or encumber the Equity Interest to any other
                person except for the Pledgee.

            

    

     

    
      
        	6.	
                COVENANT
                  OF THE PLEDGOR

              

      

    

     

    
      	 	
              6.1

            	
              During
                the effective term of this Agreement, the Pledgor covenants to the
                Pledgee
                that the Pledgor shall:

            

    

     

    
      	 	
              6.1.1

            	
              Except
                for the transfer of the Equity Interest by the Pledgor, as subject
                to the
                Exclusive Purchase Contract entered into among the Pledgor, Xin Ao
                Construction Materials, Inc. and XinAo, to Xin Ao Construction Materials,
                Inc. or the person designated by XinAo Construction Materials, Inc.,
                not
                transfer or assign the Equity Interest, create or permit to be created
                any
                pledges which may have an adverse affect on the rights or benefits
                of the
                Pledgee without prior written consent from the
                Pledgee;

            

    

     

    
      	 	
              6.1.2

            	
              Comply
                with and implement laws and regulations with respect to the pledge
                of
                rights, present to the Pledgee the notices, orders or suggestions
                with
                respect to the Pledge issued or made by the competent authority within
                five (5) days upon receiving such notices, orders or suggestions
                and
                comply with such notices, orders or suggestions, or object to the
                foregoing matters at the reasonable request of the Pledgee or with
                consent
                from the Pledgee.

            

    

     

    
      	 	
              6.1.3

            	
              Timely
                notify the Pledgee of any events or any received notices which may
                affect
                the Pledgor’s Equity interest or any part of its right, and any events or
                any received notices which may change the Pledgor’s any covenant and
                obligation under this Agreement or which may affect the Pledgor’s
                performance of its obligations under this
                Agreement.

            

    

     

    
      	 	
              6.2

            	
              The
                Pledgor agrees that the Pledgee’s right to exercise the Pledge obtained
                from this Agreement shall not be suspended or hampered through legal
                procedure by the Pledgor or any successors of the Pledgor or any
                person
                authorized by the Pledgor.

            

    

     

    
      	 	
              6.3

            	
              The
                Pledgor warrants to the Pledgee that in order to protect or perfect
                the
                security over the payment of the technical consulting and service
                fees
                under the Service Agreement, the Pledgor shall execute in good faith
                and
                cause other parties who have interests in the Pledge to execute all
                the
                title certificates, contracts, and or perform and cause other parties
                who
                have interests to take action as required by the Pledgee and make
                access
                to exercise the rights and authorization vested in the Pledgee under
                this
                Agreement, and execute all the documents with respect to the changes
                of
                certificate of the Equity Interest with the Pledgee or the person
                (natural
                person or legal entity) designed by the Pledgee, and provides all
                the
                notices, orders and decisions regarded as necessary by the Pledgee
                with
                the Pledgee within the reasonable
                time.

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	 	
              6.4

            	
              The
                Pledgor warrants to the Pledgee that the Pledgor will comply with
                and
                perform all the guarantees, covenants, agreements, representations
                and
                conditions for the benefits of the Pledgee. The Pledgor shall compensate
                all the losses suffered by the Pledgee for the reasons that the Pledgor
                does not perform or fully perform their guarantees, covenants, agreements,
                representations and conditions.

            

    

     

    
      
        	7.	
                EVENTS
                  OF DEFAULT

              

      

       

    

    
      	 	
              7.1

            	
              The
                following events shall be regarded as the event of
                default:

            

    

     

    
      	 	
              7.1.1

            	
              XinAo
                fails to make full payments of the exclusive technical consulting
                and
                service fees as scheduled under the Service
                Agreement;

            

    

     

    
      	 	
              7.1.2

            	
              The
                Pledgor makes any material misleading or fraudulent representations
                or
                warranties under Article 5 herein, and/or the Pledgor is in violation
                of
                any warranties under Article 5
                herein;

            

    

     

    
      	 	
              7.1.3

            	
              The
                Pledgor violates the covenants under Article 6
                herein;

            

    

     

    
      	 	
              7.1.4

            	
              The
                Pledgor violates any terms and conditions
                herein;

            

    

     

    
      	 	
              7.1.5

            	
              The
                Pledgor waives the pledged Equity Interest or transfers or assigns
                the
                pledged Equity Interest without prior written consent of the Pledgee,
                except as provided in Article 6.1.1 in this
                Agreement;

            

    

     

    
      	 	
              7.1.6

            	
              The
                Pledgor’s external loan, security, compensation, covenants or any other
                compensation liabilities (1) are required to be repaid or performed
                prior
                to the scheduled date; or (2) are due but can not be repaid or performed
                as scheduled and thereby cause the Pledgee to deem that the Pledgor’s
                capacity to perform the obligations herein is
                affected;

            

    

     

    
      	 	
              7.1.7

            	
              The
                Pledgor is incapable of repaying the general debt or other
                debt;

            

    

     

    
      	 	
              7.1.8

            	
              This
                Agreement is illegal for the reason of the promulgation of the related
                laws or the Pledgor's incapability of continuing to perform the
                obligations herein;

            

    

     

    
      	 	
              7.1.9

            	
              Any
                approval, permits, licenses or authorization from the competent authority
                of the government needed to perform this Agreement or validate this
                Agreement are withdrawn, suspended, invalidated or materially
                amended;

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	 	
              7.1.10

            	
              The
                property of the Pledgor is adversely changed and causes the Pledgee
                to
                deem that the capability of the Pledgor to perform the obligations
                herein
                is affected;

            

    

     

    
      	 	
              7.1.11

            	
              The
                successors or assignees of the Pledgor are only entitled to perform
                a
                portion of or refuse to perform the payment liability under the Service
                Agreement;

            

    

     

    
      	 	
              7.1.12

            	
              Other
                circumstances whereby the Pledgee is incapable of exercising the
                right to
                dispose the Pledge in accordance with the related
                laws.

            

    

     

    
      	 	
              7.2

            	
              The
                Pledgor shall immediately give a written notice to the Pledgee if
                the
                Pledgor is aware of or find that any event under Article 7.1 herein
                or any
                events that may result in the foregoing events have happened or is
                going
                on.

            

    

     

    
      	 	
              7.3

            	
              Unless
                the event of default under Article 7.1 herein has been solved to
                the
                Pledgee's satisfaction, the Pledgee, at any time when the event of
                default
                happens or thereafter, may give a written notice of default to the
                Pledgor
                and require the Pledgor to immediately make full payments of the
                outstanding service fees under the Service Agreement and other payables
                or
                dispose the Pledge in accordance with Article 8
                herein.

            

    

     

    
      
        	8.	
                EXERCISE
                  OF THE RIGHT OF THE
                  PLEDGE

              

      

    

     

    
      	 	
              8.1

            	
              The
                Pledgor shall not transfer or assign the Equity Interest without
                prior
                written approval from the Pledgee prior to the full repayment of
                the
                consulting and service fees under the Service
                Agreement.

            

    

     

    
      	 	
              8.2

            	
              The
                Pledgee shall give the Notice of Default to the Pledgor when the
                Pledgee
                exercises the right of pledge.

            

    

     

    
      	 	
              8.3

            	
              Subject
                to Article 7.3, the Pledgee may exercise the right to dispose the
                Pledge
                at any time when the Pledgee gives the Notice of Default in accordance
                with Article 7.3 or thereafter.

            

    

     

    
      	 	
              8.4

            	
              The
                Pledgee is entitled to have priority in receiving payment or proceeds
                from
                the auction or sale of whole or part of the Equity Interest pledged
                herein
                in accordance with legal procedure until the outstanding technical
                consulting and service fees and all other payables under the Service
                Agreement are repaid.

            

    

     

    
      	 	
              8.5

            	
              The
                Pledgor shall not hinder the Pledgee from disposing the Pledge in
                accordance with this Agreement and shall give necessary assistance
                so that
                the Pledgee could realize his
                Pledge.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      
        	9.	
                TRANSFER
                  OR ASSIGNMENT

              

      

    

     

    
      	 	
              9.1

            	
              The
                Pledgor shall not donate or transfer his rights and obligations herein
                without prior consent from the
                Pledgee.

            

    

     

    
      	 	
              9.2

            	
              This
                Agreement shall be binding upon and inure to the benefit of the successors
                of the Pledgor and be effective to the Pledgee and his each successor
                and
                assignee.

            

    

     

    
      	 	
              9.3

            	
              The
                Pledgee may transfer or assign his all or any rights and obligations
                under
                the Service Agreement to any individual (natural person or legal
                entity)
                at any time. In this case, the assignee shall enjoy and undertake
                the same
                rights and obligations herein of the Pledgee as if the assignee is
                a party
                hereto. When the Pledgee transfers or assigns the rights and obligations
                under the Service Agreement, at the request of the Pledgee, the Pledgor
                shall execute the relevant agreements and/or documents with respect
                to
                such transfer or assignment.

            

    

     

    
      	 	
              9.4

            	
              After
                the Pledgee’s change resulting from the transfer or assignment, the new
                parties to the pledge shall re-execute a pledge
                contract.

            

    

     

    
      
        	10.	
                TERMINATION

              

      

    

     

    This
      Agreement shall not be terminated until the consulting and service fees under
      the Service Agreement are paid off and XinAo shall no longer undertake any
      obligations under the Service Agreement. The Pledgee shall then cancel or
      terminate this Agreement within reasonable time as soon as
      practicable.

     

    
      
        	11.	
                FORMALITIES
                  FEES AND OTHER
                  EXPENSES

              

      

    

     

    
      	 	
              11.1

            	
              The
                Pledgor shall be responsible for all the fees and actual expenditures
                in
                relation to this Agreement, including but not limited to legal fees,
                cost
                of production, stamp tax and any other taxes and charges. If the
                Pledgee
                pays the relevant taxes in accordance with the laws, the Pledgor
                shall
                fully indemnify such taxes paid by the
                Pledgee.

            

    

     

    
      	 	
              11.2

            	
              The
                Pledgor shall be responsible for all the fees (including but not
                limited
                to any taxes, formalities fees, management fees, litigation fees,
                attorney's fees, and various insurance premiums in connection with
                disposition of Pledge) incurred by the Pledgor for the reason that
                (1) the
                Pledgor fails to pay any payable taxes, fees or charges in accordance
                with
                this Agreement; or (2) the Pledgee has recourse to any foregoing
                taxes,
                charges or fees by any means for other
                reasons.

            

    

     

    
      
        	12.	
                FORCE
                  MAJEURE

              

      

    

     

    
      	 	
              12.1

            	
              If
                this Agreement is delayed in or prevented from performing in the
                event of
                Force Majeure (“Event of Force Majeure”), only within the limitation of
                such delay or prevention, the affected party is absolved from any
                liability under this Agreement. Force Majeure, which includes acts
                of
                governments, acts of nature, fire, explosion, typhoon, flood, earthquake,
                tide, lightning, war, means any unforeseen events beyond the prevented
                party’s reasonable control and cannot be prevented with reasonable care.
                However, any shortage of credit, capital or finance shall not be
                regarded
                as an event beyond
                a Party’s reasonable control. The Pledge effected by Force Majeure who
                claims for exemption from performing any obligations under this Agreement
                or under any Article herein shall notify the other party of such
                exemption
                promptly and advice him of the steps to be taken for completion of
                the
                performance.

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	 	
              12.2

            	
              The
                party affected by Force Majeure shall not assume any liability under
                this
                Agreement. However, subject to the party affected by Force Majeure
                having
                taken its reasonable and practicable efforts to perform this Agreement,
                the Party claiming for exemption of the liabilities may only be exempted
                from performing such liability as within limitation of the part
                performance delayed or prevented by Force Majeure. Once causes for
                such
                exemption of liabilities are rectified and remedied, both parties
                agree to
                resume performance of this Agreement with their best
                efforts.

            

    

     

    
      
        	13.	
                DISPUTE
                  RESOLUTION

              

      

    

     

    
      	 	
              13.1

            	
              This
                Agreement shall be governed by and construed in accordance with the
                laws
                of the PRC.

            

    

     

    
      	 	
              13.2

            	
              The
                parties shall strive to settle any dispute arising from the interpretation
                or performance, or in connection with this Agreement through friendly
                consultation. In case no settlement can be reached through consultation,
                each party can submit such matter to China International Economic
                and
                Trade Arbitration Commission (“CIETAC”) for arbitration in Beijing under
                the current effective rules of CIETAC. The arbitration proceedings
                shall
                be conducted in Chinese. The arbitration award shall be final and
                binding
                upon the parties.

            

    

     

    
      
        	14.	
                NOTICE

              

      

    

     

    
      	 	
              14.1

            	
              Any
                notice which is given by the parties hereto for the purpose of performing
                the rights, duties and obligations hereunder shall be in writing.
                Where
                such notice is delivered personally, the time of notice is the time
                when
                such notice actually reaches the addressee; where such notice is
                transmitted by telex or facsimile, the notice time is the time when
                such
                notice is transmitted. If such notice does not reach the addressee
                on
                business date or reaches the addressee after the business time, the
                next
                business day following such day is the date of notice. The delivery
                place
                is the address first written above of the parties hereto or the address
                advised in writing including facsimile and telex from time to
                time.

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      
        	15.	
                EFFECTIVENESS

              

      

    

     

    
      	 	
              15.1

            	
              This
                Agreement and any amendments, modification, supplements, additions
                or
                changes hereto shall be in writing and come into effect upon being
                executed and sealed by the parties
                hereto.

            

    

     

    
      	 	
              15.2

            	
              This
                Agreement is executed in English.

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    Equity
      Pledge Agreement

     

    (No
      text
      on this page)

     

    The
      Pledgee: Beijing Ao Hang Construction Material Technology Co., Ltd.

     

    Authorized
      Representative: Weili He

     

    The
      Pledgor: Weili He

     

    Signature:
      

     

    
      
        
        

      

      
        10Operating
      Agreement

     

    Among

     

    Beijing
      Ao Hang Construction Material Technology
      Co., Ltd.

     

    Beijing
      Xin Ao Concrete Co., Ltd.

     

    Xianfu
      Han

     

    And

     

    Weili
      He

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    This
      Operating Agreement (the “Agreement”) is entered into on the day of
      November
_28__,
      2007
      by and among the following parties:

     

    
      	Party
              A:	
              Beijing
                Ao Hang Construction Material Technology Co.,
                Ltd.

            

    

    
      	Address:	
              1701
                Yingu Mansion, No. 9 Beisihuan Road, Haidian District, Beijing,
                China.

            

    

     

    
      	Party
              B:	
              Beijing
                Xin Ao Concrete Co., Ltd.

            

    

    
      	Address:	
              Jia
                1 San Tai Shan Xiaohongmen Village Chaoyang District, Beijing,
                China.

            

    

     

    
      	Party
              C:	
              Xianfu
                Han

            

    

    
      	Address:	
              No.401
                Room, Suite 4, Building 6,Fuxing Road, Haidian District, Beijing,
                China.

            

    

     

    
      	Party
              D:	
              Weili
                He

            

    

    
      	Address:	
              No.6
                Room, Yard 228, Tiancunshannan, Haidian District, Beijing,
                China.

            

    

     

    WHEREAS:

     

    
      	
              1.

            	
              Party
                A is a wholly foreign-owned enterprise organized in the People’s
                Republic of China (the “PRC”);

            

    

     

    
      	
              2.

            	
              Party
                B is a limited liability company registered in the PRC and is approved
                by
                competent governmental authorities to carry on the business of concrete
                manufacturing;

            

    

     

    
      	
              3.

            	
              Party
                A has established a business relationship with Party B by entering
                into
                the Exclusive
                Technical Consulting and Services Agreement
                (the “TSA”);

            

    

     

    
      	
              4.

            	
              Pursuant
                to the TSA between Party A and Party B, Party B shall make certain
                payments to Party A in consideration of the services provided by
                Party A thereunder. However, the relevant payables have not been paid
                yet and the daily operation of Party B will have a material affect
                on its
                capacity to pay the payables to Party
                A.

            

    

     

    
      	
              5.

            	
              Party
                C is a shareholder of Party B who owns 60% equity in Party
                B.

            

    

     

    
      	
              6.

            	
              Party
                D is a shareholder of Party B who owns 40% equity in Party
                B.

            

    

     

    
      	
              7.

            	
              The
                parties agree to further clarify matters relating to the operation
                of
                Party B pursuant to provisions
                herein.

            

    

     

    NOW,
      THEREFORE,
      through
      mutual negotiations, the parties hereto agree as follows:

     

    
      	
              1.

            	
              In
                order to ensure Party B’s normal operation, Party A agrees, subject to
                Party B’s satisfaction of the relevant provisions herein, to act as the
                guarantor for Party B in the contracts, agreements or transactions
                in
                association with Party B’s operation between Party B and any other third
                parties and to provide full guarantee for Party B in performing such
                contracts, agreements or transactions subject to the applicable laws.
                As a
                counter guarantee, Party B agrees to mortgage the receivables of
                its
                operation and all of the company’s assets which have not been mortgaged to
                any third parties at the execution date of this Agreement to Party
                A.
                Pursuant to the above guarantee arrangement, Party A, as the guarantor
                for
                Party B and upon request of Party B’s counter parties, shall enter into
                written guarantee contracts with such
                parties.

            

    

     

    
      	
              2.

            	
              Subject
                to the requirement herein set forth in Article 1, in order to ensure
                the
                performance of the various operational agreements between Party A
                and
                Party B and to ensure the payment of the various payables by Party
                B to
                Party A, Party B together with its shareholders Party C and
                Party D, hereby jointly agree that Party B shall not conduct any
                transaction which may materially affect its assets, obligations,
                rights or
                the company’s operation without obtaining a prior written consent from
                Party A or Party A’s affiliates, including without limitation the
                following:

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	 	
              2.1

            	
              To
                borrow money from any third parties or assume any
                debt;

            

    

     

    
      	 	
              2.2

            	
              To
                assign to any third parties the rights and obligation under the
                Agreement;

            

    

     

    
      	 	
              2.3

            	
              To
                create or undertake any mortgage, pledge or any other type of encumbrance
                on any Party B’s existing properties or properties acquired in the
                future;

            

    

     

    
      	 	
              2.4

            	
              To
                acquire assets of any third party on behalf of Party B, or to execute
                any
                agreement, arrangement, commitment or memorandum for the
                same;

            

    

     

    
      	 	
              2.5

            	
              To
                sell, lease or otherwise dispose of any assets of Party B, or to
                execute any agreement, arrangement, commitment or memorandum for
                the
                same;

            

    

     

    
      	 	
              2.6

            	
              To
                borrow or lend money to any third party on behalf of Party B, or to
                execute any agreement, arrangement, commitment or memorandum for
                the
                same;

            

    

     

    
      	 	
              2.7

            	
              To
                assume any obligation, give a guarantee or endorsement for any third
                party
                on behalf of Party B or assume responsibility in whatever form for
                any third party’s obligation on behalf of Party B, or to execute any
                agreement, arrangement, commitment or memorandum for the
                same;

            

    

     

    
      	 	
              2.8

            	
              To
                approve the annual budget and annual business plan of Party B and any
                material deviations thereof;

            

    

     

    
      	 	
              2.9

            	
              To
                make any capital expenditure by Party B other than in the ordinary
                course of its business;

            

    

     

    
      	 	
              2.10

            	
              To
                take any action (including but not limited to voting at shareholders’
                meetings and signing resolutions at shareholders’ meetings) that,
                according to the effective articles of association of Party B,
                requires a unanimous consent of all shareholders or
                directors;

            

    

     

    
      	 	
              2.11

            	
              When
                exercising his right in his capacity as a shareholder (including
                but not
                limited to the exercise of his voting rights) of Party B, to adopt
                any resolution or otherwise take any shareholder action that contradicts
                or jeopardises the rights and interests of Party A or its Affiliates;
                and

            

    

     

    
      	 	
              2.12

            	
              To
                take any action which violates the terms of this Agreement and any
                of the
                following agreements entered into by Party B, the TSA.

            

    

     

    
      	
              3.

            	
              Each
                of Party C and Party D hereby
                undertakes:

            

    

     

    
      	 	
              3.1

            	
              To
                approve in his capacity as a shareholder, upon receiving instruction
                from
                Party A, the entering into by Party B of the TSA with
                Party A, its Affiliate or any other entity designed by
                Party A;

            

    

     

    
      	 	
              3.2

            	
              To
                provide to Party A the monthly financial statements of Party B
                within five (5) days after the end of each month as well as any other
                documentation and information on Party B’s business operations and
                financial condition, to the extent that he is entitled to receive
                the same
                in his capacity as a shareholder as requested by Party A from time
                to time
                (excluding information provided by
                Party B);

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	 	
              3.3

            	
              That
                if, according to the Laws of China, his equity interest in Party B is
                deemed to be common property, he should obtain a written statement
                from
                his spouse indicating that it is not common property between himself
                and
                his spouse but his own personal
                property;

            

    

     

    
      	 	
              3.4

            	
              At
                any time to defend claims and assertion regarding his equity interest
                in
                Party B and the Creditor’s Rights of any third party who claims
                interest in the same, provided that Party B shall not be obligated to
                defend any such claim or assertion unless it is at Party A’s
                cost;

            

    

     

    
      	 	
              3.5

            	
              To
                cooperate with Party A at its request by consenting to or adopting in
                his capacity as a shareholder Party A’s instructions or requests
                relating to the operation of
                Party B;

            

    

     

    
      	 	
              3.6

            	
              To
                strictly keep confidential the existence of this Agreement and its
                provisions, any correspondence, resolutions, attached agreements
                and other
                documents in connection with this
                Agreement;

            

    

     

    
      	 	
              3.7

            	
              To
                immediately notify Party A of the occurrence or possible occurrence
                of any litigation, arbitration or administrative proceeding relating
                to
                Party B’s assets, business and revenue of which he may become
                aware;

            

    

     

    
      	 	
              3.8

            	
              At
                Party A’s written request, approve in its capacity as a shareholder
                any action of Party B that is not in violation of any applicable
                laws.

            

    

     

    
      	
              4.

            	
              In
                order to ensure the performance of the various agreements between
                Party A
                and Party B and to ensure the payment of the various payables by
                Party B
                to Party A, Party B together with its shareholders Party C and
                Party D hereby jointly agree to accept the provision of the corporate
                policies and guidance by Party A at any time in respect of the appointment
                and dismissal of Party B’s employees, Party B’s daily operation and
                administration as well as financial administrative
                systems.

            

    

     

    
      	
              5.

            	
              Party
                B together with its shareholders Party C and Party D hereby jointly
                agree
                that Party B, Party C and Party D shall appoint personnel recommended
                by
                Party A as the directors of Party B. Each of Party C and Party D
                shall, to the extent applicable PRC Law requires a shareholder to
                vote,
                vote his shares of Party B to cause the board of directors of
                Party B to appoint persons nominated by Party A to hold the
                positions as directors and senior management of Party B. Party B
                shall engage Party A’s
                senior managers recommended by Party A as Party B’s
                General Manager, Chief Financial Officer, and other senior managers.
                If
                any of the above officers leaves or is fired by Party A, he or she
                will
                lose the qualification to undertake any positions in Party B. Party
                B,
                Party C and Party D shall appoint other senior managers of Party
                A
                recommended by Party A to undertake such
                position.

            

    

     

    To
      ensure
      performance of such arrangement, Party A and Party B agree to cause such
      directors or senior managers to enter into director or senior manager engagement
      agreements with Party B in compliance with the above arrangement. 

     

    Party
      C
      and Party D hereby agree to sign a power of attorney upon execution of this
      Agreement, by which Party C and Party D will authorize the individual employed
      by Party A to exercise all of their respective voting rights as a shareholder
      at
      Party B’s shareholder meetings according to laws and the Articles of Association
      of the company. 

     

    
      	
              6.

            	
              Party
                B together with its shareholders Party C and
                Party D hereby jointly agree and confirm that, except as set forth
                in
                Article 1 herein, Party B shall seek a guarantee from Party A first
                if
                Party B needs any guarantee for its performance of any contract or
                loan of
                working capital in the course of operation. In this case, Party A
                shall
                have right but not the obligation to provide appropriate guarantee
                to
                Party B at its own discretion. If Party A decides not to provide
                such
                guarantee, Party A shall issue a written notice to Party B immediately
                and
                Party B shall seek a guarantee from other third
                parties.

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	
              7.

            	
              In
                the event that any of the agreements between Party A and Party B
                terminate
                or expire, Party A shall have the right but not the obligation to
                terminate all agreements between Party A and Party B, including without
                limitation to the TSA.

            

    

     

    
      	
              8.

            	
              All
                notices and communications between the Parties shall be written in
                Chinese
                and sent by fax (to be confirmed by transmission reports), delivery
                by
                hand (including courier services) or registered mail to the appropriate
                addresses set forth below:

            

    

     

    Party
      A

     

    Beijing
      Ao Hang Construction Material Technology Co., Ltd.

     

    Address:
      1701
      Yingu Mansion, No. 9 Beisihuan Road, Haidian District, Beijing,
      China.

     

    Tel:
      010-82525343

     

    Fax:
      010-82525345

     

    Party
      B

     

    Beijing
      Xin Ao Concrete Co.,
      Ltd.

     

    Address:
      Jia 1 San Tai Shan Xiaohongmen Village Chaoyang District

     

    Telephone:
      010-82525343

     

    Fax:
      010-82525345

     

    Party
      C

     

    Xianfu
      Han

     

    Address:
      No.401 Room, Suite 4, Building 6,Fuxing Road, Haidian District, Beijing,
      China.

     

    Telephone:
      010-82525343

     

    Fax:
      010-82525345

     

    Party
      D

     

    Weili
      He

     

    Address:
      No.6 Room, Yard 228, Tiancunshannan, Haidian District, Beijing,
      China.

     

    Telephone:
      010-82525343

     

    Fax:
      010-82525345

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    A
      notice
      or a correspondence shall be deemed to be received in accordance with the
      following:

     

    
      	 	
              8.1

            	
              If
                sent by fax and confirmed by the transmission report, at the time
                of the
                date indicated on the transmission report, unless the fax is transmitted
                after 5 pm of the day, or if the day is not a business day in the
                place
                where the recipient is domiciled, on the date immediately after such
                day;

            

    

     

    
      	 	
              8.2

            	
              If
                delivered by hand (including courier services), at the time of the
                date of
                which the recipient receives and accepts the notice or correspondence
                or
                another person at the address of the recipient receives and accepts
                the
                notice or correspondence; or

            

    

     

    
      	 	
              8.3

            	
              If
                delivered by registered mail, at the time of the third day after
                the date
                on the receipt issued by the relevant post
                office.

            

    

     

    
      	
              9.

            	
              The
                provisions of this Agreement may only be waived, amended or altered
                by a
                written instrument signed by both Parties (such written instrument
                shall
                be an appendix of this Agreement).

            

    

     

    
      	
              10.

            	
              The
                failure or delay of exercise of any right under this Agreement by
                either
                Party shall not be deemed to be a waiver of such
                right.

            

    

     

    
      	
              11.

            	
              The
                invalidity of any provision in this Agreement shall not affect the
                validity of other provisions which are not related to such
                provision.

            

    

     

    
      	
              12.

            	
              If
                this Agreement is terminated for any reason, the confidentiality
                obligations of both Parties shall remain valid and
                binding.

            

    

     

    
      	
              13.

            	
              The
                Parties shall bear their own stamp taxes and other government charges,
                taxes and fees and reasonable additional expenditure (including reasonable
                legal fees) incurred due to the Loan conversion, various Equity Transfers
                carried out according to this Agreement, and preparation of this
                Agreement.

            

    

     

    
      	
              14.

            	
              This
                Agreement shall be binding on the Parties, their successors and assigns
                (if any). In the event Party B adopts the power of attorney, the
                successors shall include the persons specified in Article 4.1.3
                above.

            

    

     

    
      	
              15.

            	
              Without
                Party A's prior written consent, Party B shall not assign or otherwise
                transfer his rights and obligations under this Agreement. Subject
                to
                compliance with the Laws of China, Party A may assign this Agreement
                to
                any Affiliate or any other Designated Entity without the prior consent
                of
                Party B.

            

    

     

    
      	
              16.

            	
              The
                execution, validity, interpretation and performance of this Agreement
                and
                the resolution of disputes thereunder shall be governed by the Laws
                of
                China.

            

    

     

    
      	
              17.

            	
              Arbitration

            

    

     

    
      	 	
              17.1

            	
              Any
                dispute or difference of any kind whatsoever arising out of or in
                connection with this Agreement, including any question in connection
                with
                the existence, construction, interpretation, validity, termination
                or
                implementation of this Agreement, shall be submitted to the China
                International Economic and Trade Arbitration Commission, Shenzhen
                branch
                ("CIETAC"),
                for arbitration in Shenzhen, which shall be conducted in accordance
                with
                the then effective CIETAC's rules.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	 	
              17.2

            	
              The
                arbitration tribunal shall comprise of three (3) arbitrators. Each
                Party
                shall be entitled to appoint one (1) arbitrator and the arbitrators
                so
                appointed shall appoint a third (3rd)
                arbitrator who shall preside as
                Chairman.

            

    

     

    
      	 	
              17.3

            	
              The
                language to be used in any arbitral proceedings shall be
                English.

            

    

     

    
      	 	
              17.4

            	
              The
                costs of arbitration shall be borne by the losing Party, unless otherwise
                determined by the arbitration
                award.

            

    

     

    
      	 	
              17.5

            	
              The
                Parties further acknowledge that monetary damages alone shall not
                adequately compensate Party A for the breach of Party B’s undertakings in
                this Agreement and, therefore, agree that if a breach or threatened
                breach
                of any such undertaking occurs, Party A shall be entitled to apply
                or
                petition for, and Party B shall not resist, object or challenge,
                injunctive relief compelling specific performance of such undertakings
                or
                immediate cessation of such actions in order to be in compliance
                with the
                terms of this Agreement in any competent court of the
                PRC.

            

    

     

    
      	
              18.

            	
              This
                Agreement and its appendixes shall constitute the entire agreement
                between
                both Parties and supersede all previous discussions, consultations
                and
                agreements. The appendixes of this Agreement shall be an integral
                part of
                this Agreement and shall be equally valid and binding. In the event
                of
                inconsistency between this Agreement and its appendix, this Agreement
                shall prevail.

            

    

     

    
      	
              19.

            	
              This
                Agreement is written in English.

            

    

     

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

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    Operating
      Agreement

     

    (No
      text
      on this page)

     

    
      	
              By:

            	 

    

    Party
      A: Beijing Ao Hang Construction Material Technology Co.,
      Ltd.

     

    Authorized
      Representative: Weili
      He

    Name:
      

    Position:

     

    
      	
              By:

            	 

    

    Party
      B: Beijing Xin Ao Concrete Co., Ltd.

     

    Authorized
      Representative: Xianfu Han

    Name:
      

    Position:

     

    Party
      C: Xianfu
      Han

     

      
        

      

    

     

    Party
      D: Weili
      He

     

      
        

      

    

     

    
      
        
        

      

      
        8

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