Document:

Exhibit 10.11

                                                                     Translation
                                                                     -----------

                   Guaranty Contract of Maximum Amount Pledge
                                      No. Shenfa Longgang E'zhi Zi 20050427001-2

Party A: Longgang Branch, Shenzhen Development Bank (Creditor)
Address: A1, Xinyazhou Park, Central Town, Longgang District, Shenzhen
Telephone: 28952003             Fax: 28952004
Person in charge: Yu Bo         Position: President of Longgang Branch

Party B: Shenzhen BAK Battery Co., Ltd. (Pledger)
Address: BAK Industrial Zone, Kuichong, Longgang District, Shenzhen
Telephone: 89770025                   Fax: 89770026
Legal Representative: Li Xiangqian    Position: Chairman of the Board

In  order  to  secure  the  indebtedness  of  Shenzhen  BAK  Battery  Co.,  Ltd.
(hereinafter  referred to as Obligor) under the Comprehensive  Credit Facilities
Agreement  (reference  no.  Shenfa  Longgang  Zongzi  20050407001,   hereinafter
referred to as Master Agreement) entered into by Creditor and Obligor on 7 April
2005,  the Pledger  agrees to provide its assets to the  Creditor as the pledge.
Through friendly negotiation, both parties agree to enter into this Contract:

I. Scope of Guaranty
The scope of guaranty covers all loan principal,  interest, penalty interest and
all the expenses incurred to the Creditor in realizing its creditor's right. The
maximum loan principal shall not exceed RMB 150 Million yuan.

II. Pledged Collaterals
The detail information of the pledged  collaterals is described in the Statement
of Pledged Collaterals attached to this Contract.

<PAGE>

After the Pledger has pledged the abovementioned collaterals,  the Pledger shall
not  transfer  such  pledged  collaterals  or allow any  third  paty to use such
pledged  collaterals  without  the  approval of the  Creditor.  In case that the
Creditor  and Pledger  agree to transfer  the pledged  collaterals,  the payment
received  by the  Pledger  from such  transaction  shall be used to  settle  the
indebtedness  owed to the  Creditor  in advance to expiry or be  deposited  in a
third party designated by both parties.

III. The Creditor is entitled to dispose of the pledged  collaterals by means of
settlement  of the  indebtedness  in kind,  auction or sale and use the  payment
derived from such  disposal to repay the  indebtedness  owed to it if any of the
following occurs:

     (1)  The  Obligor  fails to pay its debts  upon  maturity  of such debt (as
          originally agreed or put forward);
     (2)  The legal  successor  of the  Pledger or the  legatee  of the  Pledger
          refuse to perform their obligations;
     (3)  The Obligor is declared dissolved or bankrupt;
     (4)  The  value  of the  pledged  collaterals  is  likely  to be  obviously
          decreased so that the interest of the Creditor is  endangered  and the
          Pledger  fails to provide  additional  collateral  as requested by the
          Creditor;
     (5)  Other events which may have negative  impact upon the  realization  of
          the Creditor's rights under the Master Agreement.

IV. Undertakings and Representations of the Pledger

The Pledger is legally  qualified to execute and perform this Contract,  and has
obtained  all  necessary  authorization  by the  board  of  directors  or  other
competent authorities (as the case may be).
The Pledger  undertakes  that all application  materials  submitted by it to the
Creditor  are  truthful,  lawful,  effective  and  with  no  serious  errors  or
omissions. The Pledger has the lawful and undisputed right to pledge the pledged
collaterals under this Contract.  The execution and performance of this Contract

<PAGE>

by the  Pledger  do not  violate  any  other  contracts  entered  into or  being
performed  by the  Pledger.  The Pledger also  undertakes  that all  application
materials  submitted  by the  Obligor  to the  Creditor  are  truthful,  lawful,
effective and with no serious errors or omissions.
The Pledger  shall  notify the  Creditor in writing  within 10 days after it has
changed its address, contact details, liaison telephone, business scope or legal
representative  etc. The Pledger has fully  understood  all  provisions  of this
Contract and both parties execute this Contract of their free will.

V. The guaranty of pledge provided by the Pledger is independent  from and shall
not be replaced by any other guaranty provided by other guarantors.

VI. In case that part or whole of the Master Agreement or agreement entered into
under the Master Agreement  become invalid due to any reason,  the Obligor shall
nevertheless  perform its  obligation of repayment and the Pledger shall perform
its  obligation  of  guaranty  for the  Obligor's  obligation  of  repayment  in
accordance with this Contract.

VII. The expenses  incurred  during the course of execution and  performance  of
this Contract by both parties such as notarial or testimonial fee,  registration
fee, auction or sell cost etc. shall all be born by the Pledger.

VIII. Amendment and Termination of Contract
1.   In case that any party  intends to amend or  terminate  this  Contract,  it
     shall  notify the other party in writing and a written  agreement  shall be
     reached by both parties. This Contract shall remain valid until the written
     agreement to amend or terminate this Contract has been reached.

<PAGE>

2.   Any waiver or tolerance of the Creditor shall not be deemed as amendment or
     termination  of this  Contract  except  that a written  agreement  has been
     reached in accordance with the above provision.
3.   In case that the Master Agreement has been amended, the Creditor shall seek
     the approval of the Pledger immediately. The Pledger shall continue to bear
     the  responsibility  of guaranty for the  indebtedness of the Obligor under
     the Master  Agreement  (before and after the  amendment)  only after it has
     approved such  amendment.  However,  the Creditor does not need to seek the
     approval  of the  Pledger  for  amendment  of the  Master  Agreement  which
     decreases the indebtedness of the Obligor.

IX. Applicable Law and Dispute Settlement

1.   The execution  and  performance  of this Contract  shall be governed by the
     laws of People's Republic of China;

2.   The method of dispute  settlement  for this Contract shall be the same with
     that of the Master Agreement.

X. This Contract shall be signed and stamped by both parties (only  signature is
needed for party of natural  person).  This Contract shall become effective upon
the delivery of the pledged collaterals to the Creditor.  If the pledge shall be
registered or recorded in accordance  with article 78 or 79 of the Guarantee Law
of People's  Republic of China,  this Contract  shall become  effective upon the
registration or record.

XI. Other Issues

1.   The pledge  under this  Contract is floating  pledge and the first batch of
     pledged  collaterals  is  described  in the  attached  Statement of Pledged
     Collaterals. The storage certificate (out and in) shall also be attached to
     this  Contract if the Pledger  replaces any pledged  collateral  during the

<PAGE>

     term of the credit facilities.  The replaced collateral shall automatically
     become the pledged collateral under this Contract without further agreement
     between the parties.

2.   In case that the market value of the pledged  collaterals falls to or below
     90% of the original  value as determined  by the Creditor,  i.e. the market
     value of the pledged  collateral  falls to or below RMB 55.8 million  yuan,
     the  Pledger  shall make up for the  discrepancy  within 3 working  days by
     means of providing  additional guaranty money or additional  collaterals so
     as to the value of all pledged  collaterals  reach RMB 62 million  yuan. If
     the Pledger fails to perform the above  obligation  within the said period,
     the  Creditor is entitled to declare the credit  facilities  granted to the
     Obligor  become  mature  in  advance  to its  original  expiry  date and is
     entitled  to  authorize  relevant  organizations  to sell  (directly  or by
     auction) the pledged  collaterals  under this  Contract and use the payment
     received  from such  transaction  to settle  the  indebtedness  owed by the
     Obligor to the Creditor.

   Party A (Company Chop):_____________________
   Authorized Representative:__________________
   Date: 28 April 2005

   Party B (Company Chop):_____________________
   Authorized Representative:__________________:
   Date: 28 April 2005

<PAGE>

                        Statement of Pledged Collaterals

------------------------------------    ---------------------------------

Name,  Quality  and  Quantity of        Battery  cells  worthy of RMB 62
the Pledged Collaterals                 million yuan
------------------------------------    ---------------------------------
Title and Title Certificate             N/A
------------------------------------    ---------------------------------
Place of the Pledged Collaterals        BAK Industrial Zone, Kuichong,
                                        Longgang District, Shenzhen
------------------------------------    ---------------------------------
Value of the Pledged Collaterals        RMB 62 million yuan
------------------------------------    ---------------------------------
Ownership of the Pledged Collaterals    100% owned by Pledger
------------------------------------    ---------------------------------
Other issues                            N/A
------------------------------------    ---------------------------------
Mark                                    N/A
------------------------------------    ---------------------------------

The Pledger  undertakes that the above statement is truthful.  The Pledger shall
bear the joint and several  liability for the  indebtedness of the Obligor under
the  Master  Agreement  if the  pledge is  invalid  or the value of the  pledged
collaterals is not sufficient to cover the  indebtedness  due to false statement
by the Pledger.

<PAGE>

                         Details of Inventory of Storage
                                    (Omitted)Exhibit 10.12

                                                                         Summary
                                                                         -------

Guaranty Contract of Maximum Amount Pledge signed by and between the Company and
Development Bank dated as of April 11, 2005.

Main contents:

>>   Contract number: Shenfa Longgang edi zi NO.20050407001.
>>   As guarantor, the Company has pledged all its machineries and equipments to
     Development   Bank  to  secure  the   indebtedness  of  the  Company  under
     Comprehensive  Agreement  1 which  include  the loan  principal,  interest,
     penalty interest, expenses for the Lender to realize its creditor's rights,
     and  maximum  secured  amount  for the loan  principal  is RMB150  million.
     Purchase price of such machineries and equipments is RMB 97.16million while
     its current value is RMB79.46 million.
>>   During  the  term  of  Guaranty  Contract,   the  pledged  machineries  and
     equipments  shall be kept and  maintained by the Company;  If value of such
     pledged machineries and equipments is reduced, Development Bank is entitled
     to request the Company to restore the pledged  value or provide  additional
     collateral;
>>   Title certificates of the pledged  machineries and equipments shall be kept
     by Development Bank;
>>   Without Development Bank's consent, the Company is not entitled to transfer
     registered pledge collaterals,  but if transfer  consideration is less than
     the pledge  value,  Development  Bank is entitled to request the Company to
     provide  additional  collateral for the  difference;  otherwise the Company
     should not transfer the pledged collaterals.
>>   Proceeds for transfer of pledged  collaterals shall be used in priority for
     advanced  repayment  of the debts  secured or be handed  over to the escrow
     control of a third party agreed by Development Bank.
>>   The Company should purchase insurance for the pledged collateral during the
     term of Guaranty Contract 3;(Insurance has been purchased as required)
>>   Collaterals  under  this  Contract  should  be  registered  with  competent
     authorities ;( Registration has been done.)
>>   Development Bank is entitled to dispose the pledge collaterals by sale at a
     discounted  price or auction and use such  proceeds to repay the loans made
     under Comprehensive Agreement if any of the following occurs:
     |X|  The debtor under Comprehensive Agreement fails to repay its debts upon
          maturity;
     |X|  The debtor  under  Comprehensive  Agreement  is declared  dissolved or
          bankrupt;
     |X|  The  Company  or any third  party  disposes  the  pledged  collaterals
          without  getting  Development  Bank's  consent;
     |X|  Behavior  of the  Company or any third party  severely  infringes  the
          lawful rights of  Development  Bank and has a severe  negative  impact
          upon Development  Bank's ability to collect its credit in due time and
          due amount.

<PAGE>

     |X|  Occurrence of other  instances which might have a negative impact upon
          the  realization  of  Development   Bank's   creditor's  rights  under
          Comprehensive Agreement.
>>   Guaranty Contract is irrevocable and independently effective.

Terms that have been  omitted:  undertakings  and  representations;  collateral;
remedial  measures and notice  requirement of the pledger;  independence  of the
contract;  expenses and service charges;  amendment of the contract;  applicable
law  and  dispute  settlement;   effectiveness  and  registration   requirement;
validity;  miscellaneous;  and  statement of the machines and  equipments  under
pledge.

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