Document:

<PAGE>
                                                                     EXHIBIT 4.6

                      (1) SUNTECH POWER HOLDINGS CO., LTD.

                                       AND

                                (2) ZHENGRONG SHI
                         (3) MILLION POWER FINANCE LTD.
                  (4) FINANCIERE NATEXIS SINGAPORE 3 PTE, LTD.
                        (5) POWER SOLAR SYSTEM CO., LTD.
                        (6) POWER SOLAR SYSTEM PTY. LTD.
                        (7) WUXI SUNTECH POWER CO., LTD.
                           (8) EUCKEN CAPITAL LIMITED
                        (9) GOLDMAN SACHS (ASIA) FINANCE
                    (10) DRAGONTECH ENERGY INVESTMENT LIMITED
                 (11) ACTIS CHINA INVESTMENT HOLDINGS NO.4 LTD.
                        (12) BESTMANAGE CONSULTANTS LTD.
                          (13) PRAX CAPITAL FUND 1, LP
                             (14) FINANCIERE 1 LTD.
                             (15) FINANCIERE 2 LTD.
                                (16) SHOUQI WANG
                                 (17) CHING FONG
                                (18) XIANFENG YIN
                                (19) KOK FAI WONG
                               (20) YINGCHIH CHEN
                           (21) TIPTOP BRIGHT LIMITED
                          (22) D&M TECHNOLOGIES LIMITED

                                   ----------

                    AGREEMENT FOR THE TRANSFER AND ASSUMPTION

                            OF OBLIGATIONS UNDER THE

  SHARE PURCHASE AGREEMENT AND THE RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT

                           DATED AS OF AUGUST 29, 2005

                                   ----------
<PAGE>
THIS AGREEMENT is made the 29th day of August 2005

AMONG

(1)  SUNTECH POWER HOLDINGS CO., LTD., a company incorporated in the Cayman
     Islands whose registered office is situated at c/o M&C Corporate Services
     Limited, P.O. Box 309GT, Ugland House, South Church Street, George Town,
     Grand Cayman, Cayman Islands ("SUNTECH CAYMAN");

(2)  ZHENGRONG SHI of 17-6 Changjiang Nan Road, High-Tech Industry Development
     District, Wuxi, Jiangsu Province 214028, China ("DR. SHI");

(3)  MILLION POWER FINANCE LTD. of Akara Building, 24 De Castro Street; Wickhams
     Cay I, Road Town, Tortola British Virgin Islands;

(4)  FINANCIERE NATEXIS SINGAPORE 3 PTE, LTD., c/o Natexis Private Equity Asia
     Limited, Suite 1208, CITIC Tower, 1 Tim Mei Avenue, Hong Kong ("FINANCIERE
     SINGAPORE");

(5)  POWER SOLAR SYSTEM CO., LTD. of 17-6 Changjiang Nan Road, High-Tech
     Industry Development District, Wuxi, Jiangsu Province 214028, China;

(6)  POWER SOLAR SYSTEM PTY. LTD. of 17-6 Changjiang Nan Road, High-Tech
     Industry Development District, Wuxi, Jiangsu Province 214028, China;

(7)  WUXI SUNTECH POWER CO., LTD. of 17-6 Changjiang Nan Road, High-Tech
     Industry Development District, Wuxi, Jiangsu Province 214028, China;

(8)  EUCKEN CAPITAL LIMITED of 36th Floor, 161 Lujiazui East Road, Pudong,
     Shanghai, 200120, China;

(9)  GOLDMAN SACHS (ASIA) FINANCE c/o Goldman Sachs (Asia) L.L.C., 68th Floor,
     Cheung Kong Center, 2 Queen's Road Central, Hong Kong ("GOLDMAN SACHS");

(10) DRAGONTECH ENERGY INVESTMENT LIMITED of Room 2503, Alexandra House, 18
     Chater Road, Central, Hong Kong ("DRAGONTECH");

(11) ACTIS CHINA INVESTMENT HOLDINGS NO. 4 LTD. of 8th Floor, Les Cascades,
     Edith Cavell Street, Port Louis, Mauritius ("ACTIS");

(12) BESTMANAGE CONSULTANTS LTD. of #5F, No. 420 Fu-Hsin N. Road, Taipei 104,
     Taiwan ("BESTMANAGE");

(13) PRAX CAPITAL FUND 1, LP of 6A, 2272 Hongqiao Road, Shanghai 200336, China
     ("PRAX"),

(14) FINANCIERE 1 LTD. of P.O. Box 957, Offshore Incorporations Centre, Road
     Town, Tortola, British Virgin Islands ("FINANCIERE 1"),
<PAGE>
(15) FINANCIERE 2 LTD. of P.O. Box 957, Offshore Incorporations Centre, Road
     Town, Tortola, British Virgin Islands ("FINANCIERE 2"),

     (Goldman Sachs, DragonTech, Actis, Financiere Singapore, Bestmanage, Prax,
     Financiere 1 and Financiere 2 are together known as the "INVESTORS" or
     individually an "INVESTOR").

(16) SHOUQI WANG of 17-6 Changjiang Nan Road, High-Tech Industry Development
     District, Wuxi, Jiangsu Province 214028, China;

(17) CHING FONG of 17-6 Changjiang Nan Road, High-Tech Industry Development
     District, Wuxi, JIANGSU Province 214028, China;

(18) XIANFENG YIN of 17-6 Changjiang Nan Road, High-Tech Industry Development
     District, Wuxi, Jiangsu Province 214028, China;

(19) KOK FAI WONG of 17-6 Changjiang Nan Road, High-Tech Industry Development
     District, Wuxi, Jiangsu Province 214028, China;

(20) YINGCHIH CHEN of 17-6 Changjiang Nan Road, High-Tech Industry Development
     District, Wuxi, Jiangsu Province 214028, China;

(21) TIPTOP BRIGHT LIMITED of Sea Meadow House, Blackburne Highway, Road Town,
     Tortola, British Virgin Islands ("TIPTOP");

(22) D&M TECHNOLOGIES LIMITED of Akara Bldg., 24 De Castro Street, Wickhams Cay
     I, ROAD Town, Tortola, British Virgin Islands, a company that is wholly
     owned by Dr. Shi ("D&M").

                                    RECITALS

     WHEREAS, certain of the parties hereto are parties to (i) that certain
Share Purchase Agreement and all schedules and exhibits attached thereto, dated
29 April 2005 and amended on 10 May 2005 (the "SHARE PURCHASE AGREEMENT"), by
and among Power Solar System Co. Ltd., a company organized and existing under
the laws of the British Virgin Islands ("POWER SOLAR"), each of the Company
Warrantors as therein defined, each of the Investors (Financiere 1 and
Financiere 2 are assignees of part of the rights and obligations of Financiere
Singapore as from 22 July 2005), and Dr. Shi, providing for, among other things,
the sale and issuance by Power Solar of its Series A Preferred Shares to the
Investors, and (ii) that certain Right of First Refusal and Co-Sale Agreement
and all schedules and exhibits attached thereto (the "RFR AGREEMENT") dated 29
April 2005, by and among Power Solar, Dr. Shi, Million Power Finance Ltd., a
company organized and existing under the laws of the British Virgin Islands,
each of the Investors and Dr. Shi, which provides for certain rights and
obligations of Power Solar and the Investors with respect to the shares of Power
Solar;

     WHEREAS, in respect of certain Ordinary Shares of Power Solar acquired
thereby, Shouqi Wang, Ching Fong, Xianfeng Yin, Kok Fai Wong, Yingchih Chen,
Financiere Singapore and Tiptop duly signed documents agreeing to be bound by
and act at all times in accordance with all terms and conditions that Million
Power Finance Ltd. is subject to pursuant to the RFR Agreement;

                                       2
<PAGE>
     WHEREAS, as part of the reorganisation (the "REORGANISATION") in
preparation for the listing of the shares of Suntech Cayman, on the Nasdaq
National Market, Power Solar is to become a wholly owned subsidiary of Suntech
Cayman and the shareholders (or their respective nominees) who are shareholders
of Power Solar are to become shareholders of Suntech Cayman with the same
proportional equity interests as their proportional shareholdings in Power Solar
(the "SHARE SWAP");

     WHEREAS, Power Solar has determined that it is advisable and in the best
interests of its shareholders to assign all of its rights and transfer all of
its obligations under (i) the Share Purchase Agreement and any amendments
thereto and (ii) the RFR Agreement to Suntech Cayman; and Suntech Cayman has
determined that it is advisable and in the best interests of its shareholders to
accept such assignment and transfer and the other parties to this Agreement
consent to such assignment and transfer.

                                    AGREEMENT

     NOW, THEREFORE, in consideration of the mutual consents and undertakings
contained herein and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties agree as follows:

1.   Assignment and Assumption. Subject to the condition precedent in Section 2
     herein, Power Solar does hereby assign, transfer and convey to Suntech
     Cayman, and Suntech Cayman does hereby accept and assume, all of Power
     Solar's rights and obligations, whether accrued as of the date hereof or
     hereafter arising, under each of (i) the Share Purchase Agreement and (ii)
     the RFR Agreement, and any claims, entitlements and causes of action of
     Power Solar related thereto. Subject to the condition precedent in Section
     2 herein, the parties hereto hereby consent to such assignment and
     assumption in the manner set forth above.

2.   Condition Precedent. This Agreement shall become effective immediately upon
     the completion of the Share Swap, the terms of which are set forth on the
     Sale and Purchase Agreement of equal date hereof, by and among Suntech
     Cayman and certain other parties thereto; and shall be deemed effective as
     of the date of completion of the Share Swap (the "EFFECTIVE DATE").

3.   Amendments to the Share Purchase Agreement and the RFR Agreement.

     (a)  The Share Purchase Agreement is amended as follows:

          (i)  Suntech Cayman is added as a party to the Share Purchase
               Agreement and any amendments thereto, and references to the
               "Company" in the Share Purchase Agreement (except in relation to
               the obligations and events which have already been fully
               performed or occurred prior to the Effective Date and except for
               the representations and warranties given in Section 3 and 4 of
               the Share Purchase Agreement; provided, however, that any claim
               against Power Solar arising prior to the Effective Date may be
               brought against Power Solar or Suntech Cayman) shall mean Suntech
               Cayman;

                                        3
<PAGE>
          (ii) D&M is added as a party to the Share Purchase Agreement and
               references to the "Founder" in the Share Purchase Agreement
               (except in relation to the obligations and events which have
               already been fully performed or occurred prior to the Effective
               Date and except for the representations and warranties given in
               Section 3 and 4 of the Share Purchase Agreement; provided,
               however, that any claim against Power Solar arising prior to the
               Effective Date may be brought against Power Solar or Suntech
               Cayman) shall refer to Dr. Shi and D&M, jointly and severally;

          (iii) except for the representations and warranties given in Section 3
               and 4 of the Share Purchase Agreement, all provisions under the
               Share Purchase Agreement which relate to the "Series A Preferred
               Shares" to be held by the Investors shall be construed to refer
               to the Series A Preferred Shares of Suntech Cayman; and

          (iv) except for the representations and warranties given in Section 3
               and 4 of the Share Purchase Agreement, all provisions under the
               Share Purchase Agreement which relate to "Ordinary Shares" shall
               refer to the Ordinary Shares of Suntech Cayman.

     (b)  The RFR Agreement is amended as follows:

          (i)  Suntech Cayman is added as a party to the RFR Agreement and
               references to the "Company" in the RFR Agreement (except in
               relation to the obligations and events which have already been
               fully performed or occurred prior to the Effective Date,
               provided, however, that any claim against Power Solar arising
               prior to the Effective Date may be brought against Power Solar or
               Suntech Cayman) shall mean Suntech Cayman;

          (ii) D&M is added as a party to the RFR Agreement and references to
               the "Founder" in the RFR Agreement (except in relation to the
               obligations and events which have already been fully performed or
               occurred prior to the Effective Date, provided, however, that any
               claim against Power Solar arising prior to the Effective Date may
               be brought against Power Solar or Suntech Cayman) shall refer to
               Dr. Shi and D&M, jointly and severally;

          (iii) Section 2.7 of the RFR Agreement shall be amended and restated
               as follows:

               "LIMITATIONS TO RIGHTS OF FIRST REFUSAL AND CO-SALE.
               Notwithstanding the provisions of this Section 2, the Holders
               agree to give reasonable consideration to a proposed transfer by
               the Founder of any Equity Securities held by such Founder, to any
               spouse, child, or parent of Dr. Shi, or to a custodian, trustee,
               executor, or other fiduciary for the account of any spouse,
               child, or parent of Dr. Shi, or to a trust for Dr. Shi himself,
               or a charitable remainder trust, provided that it shall be

                                        4
<PAGE>
               a condition for the Holders' review of any such proposed transfer
               that (i) the Founder shall inform the Holders and the Company of
               such transfer prior to effecting it, including reasonable detail
               regarding the identity of the transferee and his or its
               relationship to Dr. Shi; (ii) each such transferee or assignee,
               prior to the completion of the sale, transfer, or assignment,
               shall have executed documents, in form and substance reasonably
               satisfactory to the Holders, assuming the obligations of the
               Founder in respect of the Equity Securities Transferred under
               this Agreement, including but not limited to Section 2.1 hereof,
               with respect to the transferred securities; and (iii) each
               transferee shall have executed and delivered to the Founder (with
               a copy to the Company) an irrevocable, unconditional and
               permanent power of attorney, all on terms acceptable to the
               Holders in their discretion, effective immediately after the
               completion of such transfer, appointing Dr. Shi as the
               transferee's attorney-in-fact and authorizing him to vote, in his
               absolute discretion as the attorney-in-fact of the transferee,
               any and all Equity Securities of the Company owned by such
               transferee with respect to any Company related matters, and
               acknowledging that the transferee shall not exercise any voting
               rights with respect thereto. For the avoidance of doubt, the
               Holders shall retain the right to approve in their discretion,
               pursuant to Section 2.1 hereof, any proposed transfer described
               above.";

          (iv) all provisions under the RFR Agreement which relate to the
               "Series A Preferred Shares" to be held by the Investors (or its
               successors and assigns) shall refer to the Series A Preferred
               Shares of Suntech Cayman; and

          (v)  all provisions under the RFR Agreement which relate to "Ordinary
               Shares" shall refer to the Ordinary Shares of Suntech Cayman.

4.   Board Composition. The composition of the board of directors of Suntech
     Cayman shall be the same as that of the board of directors of Power Solar.
     The terms "Board" or "Board of Directors" referred to in the Share Purchase
     Agreement or the RFR Agreement shall refer to the board of directors of
     Suntech Cayman.

5.   Representation and Warranty. Suntech Cayman and Dr. Shi, jointly and
     severally, represent to each of the parties herein on the date of this
     Agreement and as of Effective Date that Suntech Cayman has full power and
     authority, and has obtained all necessary consents and approvals to enter
     into this Agreement and to exercise its rights and perform its obligations
     hereunder, and all corporate and other actions required to authorize its
     execution of this Agreement and the performance of its obligations
     hereunder have been duly taken.

                                        5
<PAGE>
6.   Obligations of Power Solar. Other than as specifically provided herein, the
     provisions of this Agreement shall not be construed, interpreted or applied
     as releasing or restricting the obligations of Power Solar under the Share
     Purchase Agreement and the RFR Agreement.

7.   Miscellaneous.

     7.1  Suntech Cayman and Dr. Shi shall, jointly and severally, do, execute
          and perform and to procure to be done, executed and performed all such
          further acts, deeds, documents and things as the Investors (as defined
          in the Share Purchase Agreement) may require from time to time to
          effectively assign, transfer and convey all of Power Solar's rights
          and obligations, whether accrued as of the date hereof or hereafter
          arising, under each of (i) the Share Purchase Agreement and (ii) the
          RFR Agreement, and any claims, entitlements and causes of action of
          Power Solar related thereto, and otherwise to give to the Investors
          the full benefit of this Agreement.

     7.2  This Agreement shall be governed by and construed under the laws of
          the State of New York, without regard to principles of conflicts of
          law thereunder.

     7.3  Dispute Resolution.

          7.3.1 Any dispute, controversy or claim arising out of or relating to
               this Agreement, or the interpretation, breach, termination or
               validity hereof, shall be resolved through consultation. Such
               consultation shall begin immediately after one party hereto has
               delivered to the other party hereto a written request for such
               consultation. If within thirty (30) days following the date on
               which such notice is given the dispute cannot be resolved, the
               dispute shall be submitted to arbitration upon the request of
               either party with notice to the other.

          7.3.2 The arbitration shall be conducted in Hong Kong under the
               auspices of the Hong Kong International Arbitration Centre (the
               "CENTRE"). There shall be three arbitrators. Each party hereto
               shall each select one arbitrator within thirty (30) days after
               giving or receiving the demand for arbitration. Such arbitrators
               shall be freely selected, and the parties shall not be limited in
               their selection to any prescribed list. The Chairman of the
               Centre shall select the third arbitrator, who shall be qualified
               to practice law in New York. If either party does not appoint an
               arbitrator who has consented to participate within thirty (30)
               days after selection of the first arbitrator, the relevant
               appointment shall be made by the Chairman of the Centre.

          7.3.3 The arbitration proceedings shall be conducted in English. The
               arbitration tribunal shall apply the Arbitration Rules of the
               Center in effect at the time of the arbitration. However, if such
               rules are in conflict with the provisions of this Section 7.3,

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<PAGE>
               including the provisions concerning the appointment of
               arbitrators, the provisions of this Section 7.3 shall prevail.

          7.3.4 The arbitrators shall decide any dispute submitted by the
               parties to the arbitration strictly in accordance with the
               substantive law of New York and shall not apply any other
               substantive law.

          7.3.5 Each party hereto shall cooperate with the other in making full
               disclosure of and providing complete access to all information
               and documents requested by the other in connection with such
               arbitration proceedings, subject only to any confidentiality
               obligations binding on such party.

          7.3.6 The award of the arbitration tribunal shall be final and binding
               upon the disputing parties, and either party may apply to a court
               of competent jurisdiction for enforcement of such award.

          7.3.7 Either party shall be entitled to seek preliminary injunctive
               relief, if possible, from any court of competent jurisdiction
               pending the constitution of the arbitral tribunal.

     7.4  If any provision or part of a provision of this Agreement or its
          application to any party hereto shall be, or be found by any authority
          of competent jurisdiction to be, invalid or unenforceable, such
          invalidity or unenforceability shall not affect the other provisions
          or parts of such provisions of this Agreement, all of which shall
          remain in full force and effect.

     7.5  This Agreement may be executed in one or more counterparts, and by the
          different parties in separate counterparts, each of which when
          executed shall be deemed to be an original but all of which taken
          together shall constitute one and the same instrument.

     7.6  This Agreement may not be amended, modified or supplemented, except in
          a writing signed by each of the parties hereto.

     7.7  This Agreement shall be binding upon and inure to the benefit of the
          parties hereto and their respective successors and assigns.

     7.8  This Agreement and any agreement, document or instrument attached
          hereto or referred to herein among the parties hereto integrate all
          the terms and conditions mentioned herein or incidental hereto and
          supersede all oral negotiations and prior writings in respect of the
          subject matter hereof. In the event of any conflict between the terms,
          conditions and provisions of this Agreement and any such agreement,
          document or instrument, the terms, conditions and provisions of this
          Agreement shall prevail.

                                        7
<PAGE>
                                        SUNTECH POWER HOLDINGS CO., LTD.

                                        By: /s/
                                            ------------------------------------
                                        Name: ZHENGRONG SHI
                                        Title: CHIEF EXECUTIVE OFFICER

                                        ZHENGRONG SHI

                                        By: /s/
                                            ------------------------------------
                                            Zhengrong Shi

                                        MILLION POWER FINANCE LTD.
                                        For and on behalf of
                                        MILLION POWER FINANCE LTD.

                                        /s/
                                        ----------------------------------------
                                        AUTHORIZED SIGNATURE(S)

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        FINANCIERE NATEXIS SINGAPORE 3 PTE, LTD.

                                        By: /s/
                                            ------------------------------------
                                        Name: Gael de Barmon
                                        Title:
                                               ---------------------------------
<PAGE>
                                        POWER SOLAR SYSTEM CO., LTD.

                                        By: /s/
                                            ------------------------------------
                                        Name: Zhengrong Shi
                                        Title:
                                               ---------------------------------

                                        POWER SOLAR SYSTEM PTY. LTD.

                                        By: /s/
                                            ------------------------------------
                                        Name: Zhengrong Shi
                                        Title:
                                               ---------------------------------

                                        WUXI SUNTECH POWER CO., LTD.

                                        By: /s/
                                            ------------------------------------
                                        Name: Zhengrong Shi
                                        Title:
                                               ---------------------------------

                                        EUCKEN CAPITAL LIMITED

                                        By: /s/
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------
<PAGE>
                                       GOLDMAN SACHS (ASIA) FINANCE

                                       By: /s/
                                           -------------------------------------
                                       Name: Jason E. Maynard
                                       Title: Alternate Director

                                       DRAGONTECH ENERGY INVESTMENT LIMITED

                                       By: /s/
                                           -------------------------------------
                                       Name: Roman Jun Shaw
                                       Title: Director

                                       ACTIS CHINA INVESTMENT HOLDINGS NO.4 LTD.

                                       By: /s/
                                           -------------------------------------
                                       Name: ASHRAF RAMTOOLA
                                             Representing CHRONOS LTD
                                       Title: DIRECTOR
<PAGE>
                                        BESTMANAGE CONSULTANTS LTD.

                                        By: /s/
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        PRAX CAPITAL FUND 1, LP

                                        By: /s/
                                            ------------------------------------
                                        Name: JEFF YAO
                                        Title: Partner

                                        FINANCIERE 1 LTD.

                                        By: /s/
                                            ------------------------------------
                                        Name: Gael de Barmon
                                        Title:
                                               ---------------------------------

                                        FINANCIERE 2 LTD.

                                        By: /s/
                                            ------------------------------------
                                        Name: Gael de Barmon
                                        Title:
                                               ---------------------------------
<PAGE>
                                        SHOUQI WANG

                                        /s/
                                        ----------------------------------------

                                        CHING FONG

                                        /s/
                                        ----------------------------------------

                                        XIANFENG YIN

                                        /s/
                                        ----------------------------------------

                                        KOK FAI WONG

                                        /s/
                                        ----------------------------------------
<PAGE>
                                        YINGCHIH CHEN

                                        /s/
                                        ----------------------------------------

                                        TIPTOP BRIGHT LIMITED

                                        By: /s/
                                            ------------------------------------
                                        Name: WANG QIANG
                                        Title: as director

                                        D&M TECHNOLOGIES LIMITED

                                        By: /s/
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------<PAGE>
                                                                     EXHIBIT 4.7

                                                             English translation
                                                              For reference only

                            LONG-TERM LOAN AGREEMENT

                                 Contract No.: 2005 Year Development Zi No. 0048

Borrower (Party A): Wuxi Suntech Power Co., Ltd.
Domicile (Address): 17-6 Changjiang South Road, New Zone
Legal Representative: Li Yanren

Lender (Party B): Industrial and Commercial Bank of China, Wuxi Branch
Domicile(Address): 30 Wu'ai Road
Legal Representative (Person In-Charge): Hu Weiyi

     Party A, due to its need as stated in Article 3.1 of this Contract, applies
for a loan from Party B. Party B agrees to provide a loan to Party A. To clarify
and confirm the rights and obligations of the parties, in accordance with
Contract Law, General Rules on Loans, and other relevant laws and regulations,
based on equality and through consultation in reaching consensus, Party A and
Party B enter into this Contract.

               ARTICLE 1 PARTY A'S REPRESENTATIONS AND WARRANTIES

1.1 It is legally established, is an entity with legal person status (or it is a
subsidiary organization legally authorized by a legal person), and has the right
to execute this Contract in accordance with law.

1.2 The proposed project to be constructed using the loan under this Contract
has obtained the relevant approval from the relevant governmental authority.

1.3 The various accounting statements and information provided by Party A on the
project loan investigation, assessment and examination, and management are true,
accurate and complete.

                             ARTICLE 2 TYPES OF LOAN

2.1 The loan under this Contract is a fixed asset loan.

                          ARTICLE 3 PURPOSE OF THE LOAN

3.1 The loan under this Contract is to be used for the following purpose: the
new factory area solar power cell construction project.

3.2 Without the written consent of Party B, Party A cannot change the purpose of
the loan as specified in this Contract.

                         ARTICLE 4 LOAN AMOUNT AND TERM

4.1 The loan amount under this Contract shall be Renminbi (in full-form
characters) Fifty Million, (in short-form) RMB50,000,000 (in case of
inconsistency between the full-form and short-form characters, the full-form
characters shall prevail, as are the cases below).

4.2 The term of the loan under this Contract shall be 36 months from March 31,
2005 to March 28, 2008.

<PAGE>

              ARTICLE 5 LOAN INTEREST RATE AND INTEREST CALCULATION

5.1 The loan interest rate under this Contract shall be determined once a year:

5.1.1 The interest rate for the first year shall be 5.76% per annum (including
all of the loans separately disbursed within one year from the effective date of
this Contract);

5.1.2 The interest rate for the second year and thereafter (for cases of
separate disbursements, the disbursement date for the first loan shall prevail)
shall be determined in accordance with the law pursuant to the then legally
fixed interest rate of corresponding grade, and Party A shall be notified in
writing within 30 days from the date the interest rate is changed. However,
whether or not the notice is delivered, it shall not affect performance.

5.2 Interests are calculated daily on the loan under this Contract and settled
quarterly. Interest settlement date is the 20th day of the last month of the
quarter. When the loan matures, interest is settled together with the principal.

5.3 Interest of the loan under this Contract shall be calculated from the date
it is drawn.

5.4 If, during the performance of this Contract, People's Bank of China adjusts
the loan interest rate and that it applies to the loan under this Contract,
Party B shall, without being required to notify Party A, calculate the interest
based on such adjusted interest loan rate and manner in accordance with such
stipulation.

                        ARTICLE 6 CONDITIONS FOR DRAWDOWN

6.1 Prior to each drawdown, Party A shall satisfy the following conditions:

6.1.1 The guarantee contract is legally established and has taken effect;

6.1.2 The capital fund or other fund that should be raised for the project
developed by the loan under this Contract has been put in place in full pursuant
to the stipulated time and proportion;

6.1.3 There has been no budget deficit or the budget deficit has been resolved
through raising capital on its own;

6.1.4 The construction progress has been on schedule;

6.1.5 It has conducted the drawdown formalities with Party B in accordance with
the provisions of the Contract;

6.1.6 There has been no occurrence of events of default stipulated by this
Contract;

6.1.7 It has provided other relevant material for administering the loan as
requested by Party B.

                         ARTICLE 7 DRAWDOWN ARRANGEMENTS

7.1 The manner of drawdown of the loan under this Contract shall be implemented
in accordance with sub-clause ________ below:

7.1.1 Party A shall draw the loan on ______ year _____ month _____ day in a
lump-sum, and it shall place the entire loan into the account opened with Party
B;

7.1.2 Party A shall draw the loan in ______ installments, the specific drawdown
amount and date shall be as follows:

7.1.2.1 On March 31, 2005, in the amount of (in full-form characters) Twenty
Million Yuan (in short-form: 20,000,000 Yuan);

7.1.2.2 On _____ year _____ month _____ day, in the amount of (in full-form
characters) ___________ (in short-form: _______ Yuan);

                                        2

<PAGE>

7.1.2.3 On _______ year________ month ______ day, in the amount of (in full-form
characters) (in short-form: ______ Yuan);

7.1.2.4 On _________ year ________ month _______ day, in the amount of (in
full-form characters) (in short-form: ________ Yuan);

7.1.2.5 On _________ year _________ month _________ day, in the amount of (in
full-form characters) (in short-form: _________ Yuan);

7.2 Party A shall draw the loan in accordance with Article 7.1 of this Contract.
If there is any special reason, it shall submit a written application, and after
receiving Party B's written consent, Party A may drawdown _________ days ahead
of or later than the original scheduled date.

7.3 If Party A asks to cancel all or part of the loan yet to be drawn, Party A
should submit a written application to Party B 30 days before the drawdown date
specified by this Contract, and cancellation can be effected only after Party B
consents in writing.

7.4 The specific drawdown date and repayment date of this Contract shall be
determined by the actual date as listed on the promissory note administered by
Party A and Party B. The promissory note or the evidence proving the drawdown of
the loan amount forms an integrated part of this Contract. Other than dates, in
the event other matters stated thereon are inconsistent with this Contract, this
Contract shall prevail.

              ARTICLE 8 SOURCE OF THE REPAYMENT FUND AND REPAYMENT

8.1 Party A's sources of funds for repayment of the loan principal and interest
under this Contract include but are not limited to:

8.1.1 the proceeds from the project;

8.1.2 others;

8.2 Notwithstanding any provisions on Party A's sources of funds for repayment
in any other contracts to which Party A is a party, such provisions may not
affect Party A's loan repayment obligations under this Contract. Under no
circumstances whatsoever may Party A use Article 8.1 to refuse performing its
loan repayment obligations under this Contract.

8.3 Party A shall fully pay interests quarterly in accordance with the
provisions under this Contract, and it shall repay the loan principal in
accordance with following sub-clause __________;

8.3.1 Repay the principal in one lump sum, and Party A shall repay the full
amount of the loan principal on _________ year _________ month _________day;

8.3.2 Repay the principal in installments, and the specific times and amounts
are as follow:

8.3.2.1 On June 29, 2006, in the amount of (in full-form characters) Ten Million
Yuan (in short-form: 10,000,000 Yuan);

8.3.2.2 On December 29, 2006, in the amount of (in full-form characters) Ten
Million Yuan (in short-form: 10,000,000 Yuan);

8.3.2.3 On _________ year _________ month _________ day, in the amount of (in
full-form characters) _________ (in short-form: _________ Yuan);

8.3.2.4 On _________ year _________ month _________ day, in the amount of (in
full-form characters) _________ (in short-form: _________ Yuan);

8.3.2.5 On _________ year _________ month _________ day, in the amount of (in
full-form characters) _________ (in short-form: _________ Yuan);

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8.4 For cases where Party A makes prepayment, it should submit written
application to Party B 30 days before the intended prepayment date and it should
obtain Party B's written consent;

8.5 For cases where Party A makes prepayment, it should be done after Party B
consents, and the prepayment amount may not be less than 10,000 Yuan, and it
shall be a multiple of _________ 0,000 yuan.

8.6 The principal that is prepaid by Party A shall be applied to the loans in
reserve order of repayments stipulated under Article 8.3.2 of this Contract.

8.7 Party A shall, prior to the interest settlement date or the principal
repayment date as stipulated in this Contract, get ready in the account
established with Party B sufficient fund for the interests and principal to be
paid for that period, and Party A shall authorize Party B such that on the
agreed interest settlement date or principal repayment date, Party B may, at its
own initiative, debit and receive the fund from Party A's account.

                               ARTICLE 9 SECURITY

9.1 The manner of security for the loan under this Contract is: mortgage on land
and buildings and factories. Credit.

9.2 Party A is obliged to proactively assist Party B and procure that Party B
and the security provider enter into a security contract (the number of which is
_________) in respect of concrete matters regarding security under this
Contract,

9.3 If the security under this Contract undergoes changes that are adverse to
Party B's credit rights, then upon Party B's notification, Party A should
separately provide security to the satisfaction of Party B.

                ARTICLE 10 RIGHTS AND OBLIGATIONS OF THE PARTIES

10.1 Party A's rights and obligations:

10.1.1 Party A shall draw and use the loan in accordance with the time limit and
the purpose of the loan stipulated in this Contract;

10.1.2 Without Party B's written consent, Party A may not make loan prepayment;

10.1.3 Party A, on its own initiate, shall accept Party B's investigation,
understanding and supervision on the situation of the use of the loan under this
Contract;

10.1.4 Party A shall actively accommodate Party B in respect of Party B's
investigation, understanding and supervision on the production, operation,
project construction situation and financial situation, and is obligated to
provide Party B with statements and information relating to the profit and loss
statement, assets and liabilities balance sheet, etc. for the various relevant
periods;

10.1.5 Party A shall actively support Party B's participation in relevant
matters such as the reviews of the 'three accountings' (estimation accounting,
budgeting accounting, final accounting) of the loan project, construction
bidding and acceptance inspection upon completion of the construction, etc.;

10.1.6 Party A shall repay the principal and interest of the loan in accordance
with the provisions of this Contract;

10.1.7 Party A shall bear the expenses of the relevant fees under this Contract,
including but not limited to the fees used for matters relating to notarization,
authentication, evaluation, registration, etc. Party A shall perform the loan
liabilities in this order: fees, penalty interest, compound interest, and
principal;

10.1.8 Return the receipt to Party B within 3 days after acknowledging receipt
of reminder letters or reminder documents mailed or delivered by other means by
Party B;

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10.1.9 If Party A undergoes commissioned leasing, restructuring into a
joint-stock shareholding system, joint operation, consolidation, merger, joint
venture, division, capital reduction, variation in equity interest, material
asset transfer and other actions that will sufficiently affect the realization
of Party B's rights and interests, Party A should notify Party B at lease 30
days in advance and obtain Party B's written consent; otherwise, it shall not
proceed with the above-mentioned actions prior to the full settlement of the
debt;

10.1.10 For changes to industry and business registration matters such as
domicile, correspondence address, business scope, legal representative, etc.,
Party A should notify Party B in writing seven days after a relevant matter is
changed;

10.1.11 If there is occurrence of any other matters that constitute risks to
Party A's normal operation or cause material and adverse effect on its
performance of the repayment obligations under this Contract, including but not
limited to involvement in material economic dispute, bankruptcy, deterioration
in financial situations, etc., Party A shall immediately notify Party B in
writing;

10.1.12 In the event of business cessation, dissolution, cessation of business
for reorganization, business license being revoked or cancelled, within five
days after the occurrence of the event, Party A shall notify Party B in writing,
and Party A shall guarantee to immediately repay the loan principal and
interest.

10.2 Party B's rights and obligations:

10.2.1 Party B may request Party A to provide all the information relating to
this loan;

10.2.2 Party B may, in accordance with the stipulations provided herein or
provided by the law, deduct from Party A's account the loan principal, interest,
compound interest, penalty interest and all the other payable fees as agreed to
be paid by Party A under this Contract; the order for such deduction by Party B
shall be: fees, penalty interest, compound interest and principal.

10.2.3 For Party A's avoidance of Party B's supervision, Party A's falling into
arrears in repaying loan principal and interest, or other serious acts of
default, Party B has the right to impose credit sanction, notify the relevant
department or unit, and press for payment through public announcements in news
media;

10.2.4 Party B shall provide Party A with the full amount of the loan according
to the time schedule as agreed under this Contract (save and except when the
delay arises due to reasons attributable to Party A);

10.2.5 Unless it is otherwise provided in this Contract and unless stipulated by
the laws and regulations, the information and situation provided by Party A
regarding areas such as its debts, finance, production, operation etc. shall be
kept confidential by Party B.

                       ARTICLE 11 LIABILITIES FOR DEFAULT

11.1 After this Contract becomes effective, Party A and Party B shall perform
its respective obligations as agreed in this Contract. Any party who fails to
perform or fails to completely perform the obligations stipulated under this
Contract shall bear liabilities for default in accordance with the law.

11.2 If Party A fails to handle and effect the loan withdrawal in accordance
with Article 7.1 of this Contract, Party B has the right to, on a daily basis,
calculate and collect a delay default penalty based on the contract interest
rate;

11.3 If Party B fails to handle and effect the loan disbursement in accordance
with Article 7.1 of this Contract, Party B shall on a daily basis pay a delay
default penalty based on the contract interest rate.

                                        5

<PAGE>

11.4 If Party A makes prepayment of the loan under this Contract without the
written consent of Party B, Party B has the right to calculate and collect
interest according to the term and interest rate of the loan in accordance with
the provisions of this Contract.

11.5 If Party A fails to repay the principal and interest of the loan when they
are due under this Contract, then Party B has the right to set a time limit for
repayment and has the right to exercise the right of set-off against the funds
in all the accounts that Party A has opened with Party B. At the same time,
Party B shall have the right to calculate and collect interest, on a daily
basis, based on /10000 of the overdue loan and to calculate and collect compound
interest on the unpaid interest.

11.6 In the event Party A fails to use the loan for the agreed purpose in this
Contract, Party B shall have the right to cease disbursing the loan, recall part
or all of the loan or discharge the Contract, and to calculate and collect
interest, on a daily basis, 1/10000 of the loan used in breach of contract
according to the number of days that the loan is used in breach of contract. For
unpaid interest, Party B shall calculate and collect compound interest.

11.7 In Party A's use of the loan, if situations listed in Article 11.5 and 11.6
occur concurrently, Party B shall choose the more severe punishment and cannot
impose both punishments at the same time.

11.8 If Party A commits any of the following acts, then within seven days after
Party A receives notification from Party B, Party A shall make rectification and
adopt remedial measures satisfactory to Party B. Otherwise, Party B has the
right to stop or cancel the loan yet to be withdrawn and used and Party B has
the right to recall part or all of the loan ahead of schedule. For any portion
that the Party B fails to recall, a default penalty shall be calculated and
collected on a daily basis in accordance with overdue loan interest rate:

11.8.1 Provide assets and liabilities balance sheet, profit and loss statement
and other financial information that are untrue or conceal material facts;

11.8.2 Fail to accommodate, or refuse to accept, Party B's supervision on the
situation of the loan use and the relevant production operation and financial
activities;

11.8.3 Without the consent of Party B, Party A assigns or disposes of, or
threatens to assign or dispose of, material parts of its assets;

11.8.4 The material parts of its assets or the entire assets are possessed by
other creditors, or being subject to management by designated custodian,
receiver or similar persons or its property are seized or frozen, which may
cause serious losses to Party B;

11.8.5 Without the consent of Party B, Party A conducts contracting, leasing,
restructuring into joint-stock system, joint operation, consolidation, merger,
joint venture, division, capital reduction, variation in equity interest,
material asset transfer and other actions that are sufficient to affect the
realization of Party B's rights and interests and threaten the security of Party
B's creditor rights;

11.8.6 There are changes in industry and business registration matters such as
domicile, correspondence address, business scope, legal representative, etc., or
there are occurrences of situations such as material external investments, etc.
that seriously affect or threaten the realization of Party B's creditor rights;

11.8.7 Involvement in a material economic dispute or deterioration in financial
situations etc., causing serious impact or threat to the realization of Party
B's creditor rights;

11.8.8 Any other situation that may cause a threat or serious loss to the
realization of the Party B's creditor rights under the loan Contract.

   ARTICLE 12 EFFECTIVENESS, AMENDMENT, RESCISSION AND TERMINATION OF CONTRACT

12.1 This Contract shall come into force after it is signed and sealed by Party
A and Party B. If it is secured, it shall take effect after the coming into
effect of the security contract, until

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it is terminated on the date the principal, interest, compound interest, penalty
interest, default fees and all other payable fees are completely settled.

12.2 In any one of the following circumstances, Party B has the right to rescind
this Contract and request Party A to repay the loan principal and interest ahead
of schedule and to compensate for Party B's losses:

12.2.1 In the event of Party A's business cessation, dissolution, cessation of
business for reorganization, business license being revoked or cancelled;

12.2.2 The security under this Contract has undergone changes adverse to Party
B's creditor rights and Party A fails to separately provide the required
security demanded by Party B;

12.2.3 Other serious behaviors of default.

12.3 If Party A requests an extension period for the loan, it should submit a
written request to Party B 30 days prior to the due date of this Contract and
provide a written opinion of the security provider agreeing to continue to
provide security. Only after the review and consent by Party B and after the
execution of an extension agreement may the loan under this Contract be
accordingly extended. Prior to the execution of an extension agreement by the
parties, this loan Contract shall continue to be performed.

12.4 After this Contract is effective, unless otherwise stipulated herein,
neither Party A nor Party B shall on its own unilaterally amend this Contract or
rescind this Contract prematurely. If there is an actual need to amend or
rescind this Contract, it shall be done by unanimous consultation of the parties
and by reaching a written agreement. Before reaching the written agreement, this
Contract shall continue to be performed.

                          ARTICLE 13 DISPUTE RESOLUTION

13.1 Disputes arising out of the course of this Contract's performance shall
first be resolved by consultation between Party A and Party B. When consultation
fails, the dispute shall be resolved by the manner in the following sub-clause
______:

13.1.1 to be arbitrated by __________;

13.1.2 to resolve the dispute through litigation by submitting the case to the
local court where Party B is situated.

                 ARTICLE 14 OTHER MATTERS AGREED BY THE PARTIES

14.1  __________________________.

14.2  __________________________.

14.3. __________________________.

                            ARTICLE 15 MISCELLANEOUS

15.1 The appendix to this Contract forms an integral part of this Contract, and
has equal legal force as the main text of this Contract.

15.2 During the performance of this Contract, when a certain drawdown or
repayment date is a non-banking day, then it shall be extended to the next
banking day.

15.3 This Contract is made out in ______ originals. Party A and Party B each
holds _________ original(s), which have same legal effect.

15.4 Special declarations:

15.4.1 This template-form contract is provided by the lender, and the borrower
has perused, reviewed and studied this Contract in detail at the time this
Contract is signed, and it has complete notice of the provisions in this
Contract that relate to the exemptions of or limitations on the lender's
liabilities.

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15.4.2 The lender, in accordance with the borrower's request, has given
sufficient explanation on the provisions regarding the exemptions of or
limitations on the lender's liabilities, and the borrower completely comprehends
and appreciates the true meanings of such provisions. The terms and conditions
of this Contract express the true intentions of the parties to this Contract.

Borrower: (company seal)                Lender: (company seal)

-------------------------------------   ----------------------------------------
Legal Representative                    Legal Representative
(or authorized signatory)               (or authorized signatory):

-------------------------------------   ----------------------------------------
[Chinese signature chop of              [Company chop and contract chop
Shi Zhengrong]                          of the lender]

-------------------------------------   ----------------------------------------
March 31,  2005                         March 31, 2005

                                        8

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