Document:

Unassociated Document

    EXHIBIT
      10.12

    Property
      Lease Agreement

    

    Property
      Owner: DuoYuan Water Environmental Protection Technology Industry (China) Co.,
      Ltd. (Party A hereinafter)

    Property
      Occupant: DuoYuan Digital Printing Technology Industry (China) Co., Ltd (Party
      B
      hereinafter)

    

    In
      accordance with provisions of applicable laws and regulations of the State
      and
      on the principle of willingness, equality and mutual benefit, Party A and Party
      B hereby enter into this agreement (the “Agreement”) after mutual consultation
      with regard to the delivery of the premises lawfully owned by Party A to Party
      B
      for its use.

     

    Article
      I The
      Premises:

     

    
      	
              1-1

            	
              Party
                A will deliver the premises (the “Premises” hereinafter) representing 20%
                of the total built floor area of the property it lawfully owns at
                #3
                Jinyuan Road, Daxing Industrial Development Zone, Beijing to Party
                B for
                its use, of which the area is 3079.86m2.
                

            

      	 	 

    

    
      	
              1-2

            	
              Purpose:

            

      	 	 

    

    
      	 	
              2-1

            	
              Party
                B shall use the Premises for its office and research and development
                purposes.

            

      	 	 	 

    

    
      	 	
              2-2

            	
              Within
                the term of occupation of the Premises, Party B shall not alter the
                use of
                the Premises without permission. 

            

      	 	 	 

    

    
      	 	
              2-3

            	
              Within
                the term of occupation of the Premises, Party B shall not change
                the
                structure of the Premises.

            

      	 	 	 

    

    
      	 	
              2-4

            	
              Within
                the term of occupation of the Premises, Party B shall not sub-lease
                or
                subcontract the Premises to others. 

            

      	 	 	 

    

    Article
      III Term
      of
      Lease

     

    
      	 	
              3-1

            	
              The
                term of lease of the Premises shall be 5 years from January 1, 2003
                to
                December 31, 2007.

            

      	 	 	 

    

    
      	 	
              3-2

            	
              If
                Party B needs further occupation of the Premises after expiration
                of the
                term of lease, a new lease agreement shall be signed thereupon.
                

            

      	 	 	 

    

    Article
      IV Property
      Use Fee

     

    
      	 	
              4-1

            	
              The
                property use fee of the Premises shall be RMBҰ1.00 per square meter per
                day and the annual fee shall be RMBҰ1124148.90 accordingly
                (=3079.86*1.00*365). The use fee includes water and electricity rates
                and
                heating, air-conditioning, depreciation and land amortization expenses.
                

            

      	 	 	 

    

    
      	 	
              4-2

            	
              The
                rate of the property use fee shall remain fixed within the validity
                term
                of the Agreement.

            

      	 	 	 

    

    
      	 	
              4-3

            	
              The
                property use fee shall be calculated and paid on an annual basis.
                

            

      	 	 	 

    

    Article
      V Miscellaneous:

     

    Party
      B
      shall immediately repair damages of the Premises or installations therein that
      have been caused due to improper use. 

     

    Article
      VI The
      Agreement is made in three identical copies, all taking effect after signed
      by
      both parties and enjoying the same effectiveness.

     

    Article
      VII Both
      parties may settle issues unexhausted herein through friendly consultation
      or
      adding supplementary clauses.

     

    /s/DuoYuan
      Water Environmental Protection Technology Industry (China) Co., Ltd.

    Property
      Owner (Party A)    

    

    /s/Property
      Occupant: DuoYuan Digital Printing Technology Industry (China) Co., Ltd

    Property
      Occupant (Party B)

    

    Date
      Signed: December 25, 2002EXHIBIT
      10.13

     

    Letter
      of
      Trademark Use Authorization

    

    This
      is
      to authorize DuoYuan Digital Technology Industry (China) Co., Ltd to permanently
      use on a free-of-charge basis the DuoYuan trademark owned by DuoYuan Water
      Environmental Protection Technology Industry (China) Co., Ltd.

    

    /s/DuoYuan
      Water Environmental Protection Technology Industry (China) Co.,
      Ltd.

    June
      30,
      2001Unassociated Document

    EXHIBIT
      10.14

     

    Letter
      of Patent Use Authorization

    

    This
      is
      to authorize DuoYuan Digital Technology Industry (China) Co., Ltd to permanently
      use on a free-of-charge basis the patent titled Quick Automatic Cleaning System
      of Oil Lines of Offset Printing Machines owned by Beijing HuiYuan DuoYuan
      Digital Printing Technology Research Institute. 

    

    /s/Beijing
      HuiYuan DuoYuan Digital Printing Technology Research Institute

    June
      30,
      2001Unassociated Document

    EXHIBIT
      10.15

     

    Framework
      Agreement

    on

    Cooperation
      in Research and Development of Stability Technology for Offset Printing Machines
      and New Technologies

    

    Party
      A:
      DuoYuan Digital Printing Technology Industry (China) Co., Ltd.

    

    Party
      B:
      Beijing Aeronautic Manufacturing Technology Research Institute

     

    DuoYuan
      Digital Printing Technology Industry (China) Co., Ltd (“Party A”) is a wholly
      owned foreign venture engaged in digital printing and printing equipment and
      products, which has sound management, production and marketing resources and
      has
      particularly achieved remarkable results in the production and marketing of
      printing machines. 

     

    Beijing
      Aeronautic Manufacturing Technology Research Institute (“Party B”) is a
      nationally known mechanical and electrical product technology development
      center, which owns strong research and development capabilities and particularly
      possesses a leading position and represents the advanced level in such
      specialized domains as advanced electrical processing, special welding,
      manufacturing of structures made of compound materials, metal plate forming,
      machinery connection and assembling, and non-destructive detection. Both parties
      reach into the following Cooperation Agreement (the “Agreement”) based on
      friendly negotiation: 

     

    
      	1.	
              Both
                parties agree to carry out extensive cooperation with each other
                in the
                research and development of stability technology for offset printing
                machines and new technologies. 

            

    

     

    
      	2.	
              Party
                A agrees to provide Party B for free with 1 prototype offset printing
                machine for use by Party B for research and experiment purposes and
                Party
                B agrees to keep Party A duly informed of the research progresses
                it has
                made using the prototype machine supplied by Party A.
                

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    
      	
              3.

            	
              Party
                A agrees to provide certain amount of funds to support further effort
                of
                Party B for researching stability technology for offset printing
                machines
                and new technologies, and is willing to act as the base for transformation
                and industrialization of the results of mechanical and electrical
                product
                stability research of Party B and provide all possible and necessary
                conditions in that regard, with specific implementing measures to
                be
                separately discussed and determined.

            

    

     

    
      	4.	
              Party
                B agrees to carry out pertinent research of mechanical and electrical
                product stability effect in the near future using the prototype offset
                printing machine supplied by Party A after making necessary improvements
                to the machine or imitating the configuration of the prototype machine
                and
                to prioritize Party A when considering transfer of its research results.
                

            

    

     

    
      	5.	
              Party
                B agrees to act as the technology supporter of Party A and further
                carry
                out the research and development of offset printing machine stability
                technology and new technologies with the support of Party A, with
                the
                specific implementing measures to be separately discussed and determined.
                

            

    

     

    
      	
              Party
                A: /s/ DuoYuan Digital Printing Technology Industry (China) Co.,
                Ltd.

            	 	
              Party
                B: /s/ Beijing Aeronautic Manufacturing Technology Research
                Institute

            
	 	 	 
	
              Address:
                #3 Jinyuan Road, Daxing Industrial Development Zone,
                Beijing

            	 	
              Address:
                North of Baliqiao, Chaoyang District, Beijing

            
	 	 	 
	
              Contact
                Person:

            	 	
              Contact
                Person:

            
	 	 	 
	
              Person
                in Charge:

            	 	
              Person
                in Charge:

            
	 	 	 
	
              Date:
                

            	 	
              Date:

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