Document:

EXHIBIT 10.20

                          FINANCIAL ADVISORY AGREEMENT

         THIS FINANCIAL  ADVISORY  AGREEMENT  ("Agreement")  is made and entered
into on this the _____ day of September, 2004, by and between HFG INTERNATIONAL,
LIMITED, a Hong Kong corporation  ("HFG"), and SHENZHEN BAK BATTERY CO., LTD., a
company  organized  under  the  laws of The  People's  Republic  of  China  (the
"Company").

                              W I T N E S S E T H:

         WHEREAS, the Company desires to engage HFG to provide certain financial
advisory and consulting services as specifically  enumerated below commencing as
of the date hereof related to the  Restructuring,  the Going Public  Transaction
and the  Post-Transaction  Period  (each  as  hereinafter  defined),  and HFG is
willing to be so engaged;

         NOW,  THEREFORE,  for and in  consideration  of the covenants set forth
herein and the mutual  benefits  to be gained by the parties  hereto,  and other
good and valuable  consideration,  the receipt and adequacy of which are now and
forever  acknowledged and confessed,  the parties hereto hereby agree and intend
to be legally bound as follows:

1. HFG's working range: As of the date hereof,  HFG hereby agrees to be retained
by the Company as a financial advisor.  The Company  acknowledges that HFG shall
have the right to engage  third  parties to assist it in its  efforts to satisfy
its  obligations  hereunder.  In its  capacity  as a  financial  advisor  to the
Company, HFG will:

A.       Restructuring and Going Public Transaction

                  (i)  consult  on  the  development  and  implementation  of  a
         restructuring plan (the "Restructuring") resulting in an organizational
         structure  that will allow the  Company to  complete  the Going  Public
         Transaction;

                  (ii)  Assist  the   Company  in  engaging  in  the   qualified
         professionals for the purpose of completing the restructuring and Going
         Public   Transaction  and  be  responsible  for  the  coordination  and
         communication;

                  (iii)  assist the Company in capital  raising  activity  whose
         minimum  offering is $15 million as permitted by applicable  law and in
         accordance with the terms of that certain Financing  Agreement dated as
         of even date herewith (the "Financing Agreement");

                  (iv) assist the Company in evaluating  the manner of effecting
         a going public transaction with a public shell corporation domiciled in
         the  United  States  of  America  and  quoted on the "OTC BB" (a "Going
         Public Transaction")

<PAGE>

B.       Post Transaction Period

                  (i)  Coordinate  and  supervise  a  training  program  for the
         purpose  of  facilitating  new  management's  operation  of the  Public
         Company;

                  (ii)  Assist  the   Company  in  engaging  in  the   qualified
         professionals  for the  purpose of listing and be  responsible  for the
         coordination and communication;

                  (iii) facilitate,  to the extent necessary, the preparation of
         an information  statement to be filed with the SEC to change the Public
         Company's  name and to in turn assist in  obtaining a new CUSIP  number
         and stock symbol for the Public Company;

                  (iv)  Assist  in  developing  and   implementing   the  Public
         Company's  investor   relations   efforts,   which  shall  include  (a)
         establishing a program for communicating with brokerage  professionals,
         investment  bankers and market makers; (b) creating a complete investor
         relations  strategy to be implemented  in English and Chinese;  and (c)
         assisting in the preparation and  dissemination of press releases.  The
         Company  agrees  that  all  costs  and  expenses  charged  by  investor
         relations and press  relations  firms  introduced by HFG and engaged by
         the  Public  Company  will be the  sole  responsibility  of the  Public
         Company;

                  (v)   Facilitate  the  Public  Company  to  list  on  national
         Exchanges, including AMEX or Nasdaq.;

                  (vi) HFG agrees to render the  Company the list to clarify the
         procedure and estimated expenses necessary in Post Transaction  Period,
         and have the aforesaid  list enclosed  therewith  upon the execution of
         this agreement as the attachment;

2. The company's major obligation

A.       The Company  agrees to pay $400,000  for the cost of the Shell  company
         which  will be  deducted  from the  investment  invested  by HFG of $ 1
         million upon the consummation of reverse merger.

B.       Following  the  closing of the Going  Public  Transaction,  the Company
         shall be responsible  for the payment of all fees  associated  with the
         Company's investor relations.

C.       Unless otherwise  agreed upon by the parties,  following the closing of
         the Going Public Transaction,  the Company shall be responsible for the
         payment  of all  fees  associated  with  operating  a  publicly  traded
         corporation  and complying with both federal  securities laws and rules
         and regulations  promulgated by applicable stock exchanges or quotation
         mediums.

D.       Other   responsibilities   mutually  agreed  by  the  parties  in  this
         agreement.

<PAGE>

3.       Representations and Covenants of the Company

         The Company represents and covenants as follows:

                  (a) The Company shall make available to HFG and/or shall agree
         to have professionally prepared all financial statements,  projections,
         appraisals,  performance summaries and other information which in HFG's
         reasonable   judgment  shall  be  necessary  or  appropriate   for  the
         respective Transactions contemplated hereby.

                  (b) The Company  represents,  warrants and agrees that, except
         as required by law or legal process it will keep confidential, and will
         not   disclose   to  any  third  party   (other   than  the   Company's
         representatives,  attorneys,  accountants and advisors), (i) the amount
         of any fees and expenses  contemplated  by the  Agreement  and (ii) the
         advice rendered by HFG whether formal or informal.

                  (c) During the term of this  Agreement,  the Company grants to
         HFG a right of first refusal to exclusively act as the Company's or the
         Public  Company's  consultant  regarding  any desired  capital  raising
         transactions,  and to receive such  compensation as may be agreed to by
         the parties and that shall be permitted by applicable law.  Neither the
         Company nor the Public  Company shall enter into  discussions  with any
         third party regarding future financings until HFG has stated in writing
         that it has no desire to participate in such transaction.

4.  Authorization  Subject to the terms and  conditions of this  Agreement,  the
Company  hereby  appoints HFG to act on a best efforts  basis as its  consultant
during the  Authorization  Period (as hereinafter  defined).  HFG hereby accepts
such appoint,  with it being  expressly  acknowledged  that HFG is acting in the
capacity of independent  contractor and not as agent of either the Company,  the
restructured company or the Public Company.

         It is expressly  acknowledged  by the Company that HFG shall not render
legal or accounting advice in connection with the services to be provided herein
..In addition, the Company agrees that it will not hold HFG liable or responsible
in the event that either the  Restructuring  or the Going Public  Transaction is
not  consummated due to the Company's act, and, the sole  responsibility  of the
Company is to solicit and pay legal and  accounting  fees incurred by either the
Company,  the restructured  company or the Public Company in connection with the
transactions and matters referenced herein.

5. Authorization  Period.  HFG's engagement  hereunder shall become effective on
the date hereof (the  "Effective  Date") and will  automatically  terminate (the
"Termination  Date") on the first to occur of the  following:  (a) the Company's
breach  of one of the  covenants  set forth in  Section  3 hereof or (b)  twelve
months from the  Effective  Date.  This  Agreement  may be  extended  beyond the
Termination Date if both parties mutually agree in writing. This Agreement shall
also terminate  immediately  upon the mutual decision of the parties not to move
forward with either the Restructuring or the Going Public Transaction

<PAGE>

6.  Investment  and  Professionals.  HFG  or  affiliated  entities  will  invest
$1,000,000 USD (the  "Investment") in the Company under agreed upon terms and at
an agreed upon time. The Investment  will be used by the Company to pay all fees
and expenses  incurred by the Company in connection  with  completing  the Going
Public Transaction. HFG shall introduce the Company to US securities counsel who
shall in turn be engaged by the Company for the purpose of completing  the Going
Public  Transaction.  HFG shall also  introduce  and the  Company  shall in turn
engage an independent audit firm.

         The sole  responsibility  of the  Company  is to pay for the  audit and
legal fees before the Public  Company's  stocks are  approved to trade on OTCBB,
and the Company has not  obligation  to pay any other fees except the  aforesaid
fees.  Unless  otherwise  agreed,  the  investment  of $1  million  shall not be
returned or refunded required by HFG in any form.

         The parties hereby  mutually  agrees that upon the closing of the Going
Public  Transaction and stock of the Public  Company's  stocks trading on OTCBB,
the current  stockholders  of the Company will  acquire  control of 76.2% of the
issued and outstanding  common stock of the Public Company,  leaving 3.8% of the
issued and outstanding  common stock of the Public Company to be held by persons
other than the current  stockholders of the Company  including HFG, the investor
of $1 million investment and the original shareholders of shell company, and the
other 20% of issued and  outstanding  common  stock of the Public  Company to be
held by investors who have invested $20 million.

         HFG agrees  that all the  stocks  held by HFG and  affiliated  entities
under the agreed terms to invest $1 million  shall not be traded or  transferred
in any form before the Company's listing on NASDAQ.

7. Due  Diligence  and  Auditabilty.  HFG shall  have the right to perform a due
diligence   investigation  of  the  Company  that  demonstrates  to  HFG's  sole
satisfaction  that the  Company is a  suitable  candidate  for the Going  Public
Transaction.  The Company  shall also have the right to perform a due  diligence
investigation  of the public  company and shall be under no  obligation to enter
into the Going Public  Transaction if it determines that there exists a material
and non-curable due diligence matter.

HFG shall assist the Company in engaging in the independent auditing firm agreed
by HFG  for the  purpose  of  completing  the  restructuring  and  Going  Public
Transaction  and  listing,  and the  Company  agrees  to pay the  audit  fees in
advance. If there are not a material and non-curable  impediment in such audited
financial  statements  prepared,  the  audit  fees will be  reimbursed  by the 1
million USD  invested by HFG. HFG hereby  acknowledges  that the Company has the
right to use the 1 million USD upon the consummation of auditing.

8. Termination HFG hereby acknowledges that the consummation of the financing is
simultaneous to the closing of the Going Public Transaction. The Company has the
right  to  terminate  this  agreement  and  the  process  of  the  Going  Public
Transaction  in the event that HFG fails to provide the $ 14 million  investment
under the agreed financing terms. The company will not be liable, compensate HFG
and the Company will not pay any preliminary expenses for the termination of the
agreement under this agreed condition.  The Company shall execute the Merger and
Acquisition  Agreement upon the closing of the $ 15 million investment and shall
not terminate the aforesaid agreement.

<PAGE>

9. Governing  Law. This  Agreement  shall be governed by the laws of the Peoples
Republic of China and any  dispute  arising  hereunder  shall be  submitted  for
binding arbitration to the China Foreign Trade Commission Arbitration Committee.

         It is understood  that this  Agreement will be prepared and executed in
both the  English  and  Chinese  languages,  with  both  versions  having  legal
efficacy. If a dispute arises as to the interpretation of a particular provision
of this  Agreement  because of  differences  between  the  Chinese  and  English
languages, the Agreement in Chinese shall be valid.

         WITNESS WHEREOF, the parties have executed this Agreement as of the day
and year first above written.

                                      HFG:

                                                  HFG International, Limited

                                                  By:  /s/
                                                      Timothy P. Halter,
                                                  Its:President

                                                  The Company:

                                                  Shenzhen BAK Battery Co., Ltd.

                                                  By:  /s/
                                                  Name:Li Xiangqian
                                                  Its:President

<PAGE>
<TABLE>
<CAPTION>

BAK Estimated Reverse Merger Expenses prior to Nasdaq

Please note that the following are estimates and that final numbers may vary.

OTCBB
Description                                 Fee                         Comments
-----------                                 ---                         --------
<C>                                         <C>                         <C>

1) Initial Audit Fee                        $200,000 - $250,000

2) Chinese Legal Counsel                    $

3) US Legal Counsel (reverse merger)        $100,000

4) US Legal (SB-2 registration Statement)   $ 50,000                    Investor Requirement

5) Shell Cost                               $400,000

6) Annual Audit expense                     $150,000 - $200,000

7) Annual Legal fees                        $100,000

8) Independent Directors Annual             $10,000 - $30,000           Cash, stock, options or combination

9) Annual D&O Insurance                     $50,000 - $75,000

10) Nasdaq Initial Listing_                 $125,000                    Ongoing annual is $39,000

--------------
11) PR Budget                               $250,000
(
12) Annual 404 Expenses                     $100,000 - $125,000

13) Miscellaneous (Printing, transfer       $ 10,000
    agent, postage etc.)
</TABLE>EXHIBIT 10.21

Summary of  Comprehensive  Credit  Facility  Agreement Of Maximum Amount Entered
Between the Company and Agricultural Bank ("Comprehensive Agreement 2")

     o    Contract number: (Shenzhen Longgang Nongyin Shouzi No.200502370001;

     o    Maximum amount for credit facilities to be provided: RMB200 million;

     o    Term: from May 20th, 2005 to May 20, 2006;

     o    Interest rate of loan shall be subject to each loan agreement/contract
          to be signed;

     o    Adjustment of credit can be made by Agricultural Bank under the any of
          the following:

          ---  The Company  suffers  severe  operational  risk or its  financial
               situation severely deteriorates;

          ---  Guarantor's  payment  ability is  obviously  weakened or value of
               pledged collaterals decreases obviously;

          ---  Occurrence of other instances which make  Agricultural Bank think
               adjustment of credit facility is necessary.

     o    Breach of contract  penalty:  adjustment  of credit,  cancellation  of
          unused credit,  imposition of punitive interest,  demand prepayment of
          loan and other measures;

     o    Special term:

          The Company  undertakes  that it  authorizes  Lender to go through the
          formalities and procedures  required for obtaining  title  certificate
          for  BAK   Industrial   Park  and  shall  complete  the  afore  stated
          formalities  and procedures  before the end of Sep, 2005 and pledge it
          to Agricultural Bank in time.

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