Document:

EXHIBIT
        4.32

       

    

    Loan
      Contract

     

    Contract
      No. Year 2006 De Shang Yin Jie Zi No.045

     

    Deyang
      City Commercial Bank 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

      EXHIBIT
        4.32

    

     

    Borrower
      (hereinafter referred to as “Party A”): Denong
      Zhengcheng Seed Limited Luojiang Branch

     

    Domicile: 
      No. 122 Lufeng Road, Luojiang County 

     

    Postal
      Code: 618500

     

    Legal
      Representative(person in charge): Changyong
      Zeng

     

    Telephone:
      3204966   

     

    Lender
      (hereinafter referred to as “Party B”): Deyang
      City Commercial Bank 

     

    Domicile:
      No.
      14 Mengshan Street 

     

    Postal
      Code: 618000

     

    Legal
      Representative (person in charge): Qi
      lee

     

    Telephone:
      6821187  

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

      EXHIBIT
        4.32

       

    

    Party
      A
      has made an application to Party B for a loan and Party B agrees to advance
      the
      loan. According to relevant laws, regulations and rules, Party A and Party
      B,
      upon negotiation, enter into this Contract for their mutual compliance and
      performance.

     

    Article
      1 Category of Money Borrowed

     

    Under
      this Contract Party B agree to provide Party A with short-term
      loan.

     

    Article
      2 
      Purpose of Money Borrowed

     

    Money
      borrowed hereunder shall be used for the purpose of purchasing
      the seed product.

     

    Article
      3 Amount of Money Borrowed

     

    Party
      A
      borrows from Party B an amount of RMB (Say) Two
      Million Yuan.

     

    Article
      4 Term of Money Borrowed

     

    As
      provided in this Contract, the term of the money borrowed is one
      year commencing
      from March
      9, 2006
      and
      ending on March
      8, 2007.

     

    If
      the
      commencement date of the term of the money borrowed hereunder is different
      from
      that specified in the bank remittance voucher, the date specified in the bank
      remittance voucher for the first advance shall prevail. The bank remittance
      voucher shall be an integral part of this Contract and have the same force
      and
      effect as this Contract.

     

    Article
      5 Interest Rate, Interest Calculation and Settlement

     

    
      	1	
              The
                interest rate of the loan hereunder shall be a monthly interest
                rate at rate of
                7.44‰.

            

    

     

    
      	2	
              The
                interest of the loan shall be accrued from the date when the loan
                is
                deposited into Party A’s account. The interest shall be settled on a
                monthly
                basis for the loan hereunder and the interest settlement date shall
                be the
                20th of every month.

            

    

     

    
      	3	
              The
                adjustment of interest rate and the method of accruing interest shall
                be
                adjusted pursuant to the provisions announced by the People’s
                Bank of China.
                During valid term of this contract, in case that any amendment of
                the
                provisions applicable to this contract would be announced by the
                People’s
                Bank of China, the adjustment of interest rate and the method of
                accruing
                interest shall be adjusted pursuant to the amended provisions without
                giving Party A a prior notice. Where Party A’s repayment is overdue, and
                the interest rate might be adjusted below the interest rate hereunder
                during the foregoing term, the interest rate shall be subject to
                the
                interest rate hereunder; in case that the interest rate might be
                adjusted
                above the interest rate hereunder, the interest rate shall be subject
                to
                the new interest rate announced by the People’s Bank of
                China.

            

    

     

    Article
      6 Advance and Repayment of Money Borrowed 

     

    
      	1.  	
              Conditions
                Precedent to the Advance of the Money
                Borrowed

            

    

     

    Party
      B
      is only obligated to advance the money borrowed upon the satisfaction of the
      following conditions unless the same are wholly or partly waived by Party
      B:

     

    
      	(1)  	
              Party
                A having completed the approval, registration, delivery and other
                legal
                procedures in respect of the loan hereunder according to relevant
                laws and
                regulations;

            

    

    
    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

      

    
      EXHIBIT
        4.32

       

    

    
      	(2)  	
              Party
                A having opened a deposit
                account
                at Party B, and will transact the settlement and deposit of the loan
                herein through the foregoing
                account.

            

    

    
      	 	 

    

    
      	(3)  	
              If
                a security is created for this Contract, a security contract or other
                form
                of security that satisfies Party B’s requirement having become
                effective;

            

    

    
      	 	 

    

    
      	(4)  	
              Party
                A having committed no event of default set forth in this
                Contract;

            

    

    
      	 	 

    

    
      	(5)  	
              Other
                conditions precedent to the advance of the loan as agreed by the
                two
                parties:  

            

    

     

    
      	2.  	
              Party
                B shall begin to advance the loan within five
                bank business days after Party A has satisfied the foregoing
                conditions.

            

    

     

     

    
      	3.  	
              Principles
                of Repayment and Payment of
                Interest

            

    

     

    Party
      A’s
      repayment shall be subject to the principles of interest paid first and
      principal repaid then. Party A shall pay to Party B all interest accrued on
      the
      interest settlement date. The first date of payment of interest shall be the
      first interest settlement date after the advance of the money borrowed. All
      interest accrued shall be paid at the time of final repayment.

     

    
      	4.  	
              Method
                of Repayment

            

    

     

    Prior
      to
the
      repayment date or the interest settlement date
      provided
      in this Contract, Party A shall deposit into an account opened at Party B enough
      funds for any amount then due, and such funds will be automatically transferred
      and paid to Party B, or, on the
      repayment date or the interest settlement date
      provided
      in this Contract, Party A shall transfer funds from other account for the
      repayment of the loan. If Party A fails to repay the loan in a timely manner,
      Party B shall have the right to transfer and receive any funds from the account
      opened by Party A at Commercial
      Bank of Deyang’s
      system.

     

    
      	5.  	
              Prepayment

            

    

     

    Where
      Party A repays the loan ahead of schedule upon Party B’s consent, the interest
      shall be accrued based on the actual number of days the money is borrowed and
      at
      the interest rate set forth in this contract.

     

    Article
      7 Security of Money Borrowed

     

    The
      form
      of security hereunder is Mortgage.
      Both
      parties shall enter into a security contract thereto. See Year 2006 De Shang
      Yin
      Gao Di Zi No.045.

     

    Article
      8 Party A’s Right and Obligations

     

    
      	1.  	
              Party
                A shall have the right to:

            

    

     

    
      	(1)  	
              require
                Party B to advance the loan according to this
                contract.

            

    

     

    
      	(2)  	
              use
                the loan for the purpose provided in this
                contract.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

      EXHIBIT
        4.32

    

     

    
      	(3)  	
              require
                Party B to keep secret of relevant accounting information and production
                and operation related trade secrets provided by Party A, unless otherwise
                provided by laws, regulations and
                rules.

            

    

     

    
      	2.  	
              Party
                A shall be obligated:

            

    

     

    
      	(1)  	
              to
                provide Party B with relevant materials including opening banks,
                account
                No. and loan & deposit balance, and to actively co-operate with the
                lender’s investigation, examination and
                inspection.

            

    

    
      	 	 

      	(2)  	
              to
                be responsible for the truthfulness, accuracy and completeness of
                the
                materials provided.

            

      	 	 

    

    
      	(3)  	
              to
                use the loan for the purpose as provided in this Contract without
                misappropriating or embezzling the money
                borrowed.

            

    

    
      	 	 

      	(4)  	
              to
                actively cooperate with and voluntarily accept Party B’s inspection of and
                supervision over its production and operation and financial activities
                as
                well as the use of the money borrowed
                hereunder.

            

      	 	 

    

    
      	(5)  	
              to
                repay the principal and interest of the loan in a timely manner according
                to this contract.

            

    

    
      	 	 

      	(6)  	
              Party
                A and its investors shall not spirit its money away or transfer its
                assets
                to escape debts owing to Party B.

            

      	 	 

    

    
      	(7)  	
              Party
                A shall not prepay the other long-term loan without Party B’s
                consent.

            

    

    
      	 	 

      	(8)  	
              not
                to use the assets generating from the loan hereunder to provide security
                for a third party without Party B’s consent before its full repayment of
                the interest and principal owing to Party
                B;

            

      	 	 

    

    
      	(9)  	
              to
                give Party B a prior written notice and obtain Party B’s consent if Party
                A intends to provide security for the debts of others during the
                valid
                term of this Contract, which may affect its ability to repay the
                loan
                hereunder;

            

    

    
      	 	 

      	(10)  	
              to
                give Party B a prior written notice, obtain Party B’s consent and arrange
                for the responsibility of the repayment hereunder or paying off the
                loan
                ahead of schedule, otherwise Party A shall not commit any of the
                following
                prior to Party A paying off the loan hereunder: contracting, lease,
                stock
                system reform, association, merger, acquisition, division, joint
                venture,
                asset transfer, application for suspending business for internal
                rectification, application for dissolution or bankruptcy, which will
                definitely affect Party B’s realization of its rights as a creditor of the
                loan and change the relationship between right and obligation as
                provided
                in this contract;

            

      	 	 

    

    
      	(11)  	
              to
                promptly notify Party B of any change in its name, legal representative
                (person in charge), domicile, business scope or registered capital
                during
                the valid term of this Contract.

            

    

    
      	 	 

      	(12)  	
              to
                bear all expenses with respect to this Contract and the security
                hereunder, such as legal fees, insurance, transportation, assessment,
                registration, custody, appraisal and notarization expenses.
                

            

    

     

    Article
      9 Party B’s Right and Obligations

     

    
      	1.  	
              Party
                B shall have the right to:

            

    

     

    
      	(1)  	
              learn
                the production, operation and financial activities of Party A and
                require
                Party A to provide relevant documents, such as plan statistics, financial
                and accounting statements;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

      EXHIBIT
        4.32

       

    

    
      	(2)  	
              deduct
                and transfer from the account opened by Party A at Commercial Bank
                of
                Deyang’s system. any amount in any currency owing to Party B, where Party
                B shall withdraw, or in advance, principal, interest, penalty interest,
                overdue interest, compound interest and other payable by Party A
                under
                this Contract.

            

    

     

    
      	(3)  	
              withdraw
                the loan or terminate this contract, where the guarantor for the
                loan
                hereunder is winding-up, closed, deregistered, revoked its business
                license, dissolved , in bankruptcy or loss, which will definitely
                affect
                the guarantor’s capability of security, and where the collateral
                is decreased, damaged and lost.

            

    

     

    
      	(4)  	
              withdraw
                the loan or terminate this contract, where Party A shall commit any
                of the
                following prior to Party A paying off the loan hereunder: contracting,
                lease, stock system reform, merger & acquisition, division, asset
                transfer, application for suspending business for internal rectification,
                application for dissolution.

            

    

     

    
      	2.  	
              Party
                B shall be obligated:

            

    

     

    
      	(1)  	
              advance
                the loan fully and in a timely manner as provided in this Contract,
                except
                for any delay due to the reasons attributable to Party
                A;

            

    

    
      	 	 

      	(2)  	
              keep
                secret of financial materials and production and operation related
                trade
                secrets provided by Party A, unless otherwise provided by laws,
                regulations and rules.

            

    

    

    Article
      10 Liability
      for Breach of Contract

    

    Both
      parties shall implement the obligations hereunder; any party who shall wholly
      or
      partly not implement the obligations hereunder shall be liable for breach of
      contract.

     

    
      	1.  	
              Where
                Party B does not advance the loan fully and in a timely manner as
                provided
                in this Contract, which adversely causes Party A’s loss, Party B shall pay
                a certain sum of liquidated damages to the other party in light of
                amount
                of breach and number of days overdue, the calculation of which shall
                be
                identical to the interest calculation of the loan overdue, under
                the
                precondition that Party A shall fully implement the obligations
                hereunder.

            

    

    
      	 	 

      	2.  	
              Where
                Party A breaches any article herein, Party B shall have right to
                take
                retrieval measures by ceasing to advance the loan hereunder, withdrawing
                the principal and interest of the loan having been
                advanced.

            

      	 	 

    

    
      	3.  	
              Where
                Party A fails to repay the loan hereunder during the term as provided
                in
                this contract, Party B shall have right to impose interest upon the
                overdue loan, commencing from the date the loan is overdue, at the
                interest rate herein plus 50%
                ,
                to the date the principal and interest are repaid in
                full

            

    

    
      	 	 

      	4.  	
              Where
                Party A fails to use the loan for the purpose provided herein, Party
                B
                shall have right to impose interest upon the loan misused by Party
                A,
                commencing from the date the loan is misused, at the interest rate
                herein
                plus 100%
                ,
                to the date the principal and interest are repaid in
                full.

            

      	 	 

    

    
      	5.  	
              Where
                the payable interest herein is not paid, Party B shall have right
                to
                impose the compound interest at executive interest
                rate.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

      EXHIBIT
        4.32

       

    

    
      	6.  	
              Where
                any guarantor hereunder fails to fulfill the obligations as provided
                in
                the security contract and to follow Party B’s indication to correct, Party
                B shall have right to take retrieval measures by ceasing to advance
                the
                loan hereunder, withdrawing the principal and interest of the loan
                having
                been advanced.

            

    

     

     

    
      	7.  	
              Where
                Party B takes legal proceedings to realize its creditor’s right because of
                Party A’s breach of contract, Party A shall bear all expenses with respect
                to the realization of the creditor’s right, such as legal fees, around
                3%~5%
                of
                the amount disputed, and the accommodation and communication fees
                paid by
                Party B.

            

    

     

    Article
      11 Settlement
      of Dispute

     

    Any
      dispute arising from the performance of this Contract may be settled through
      negotiation. If no settlement could be reached, the dispute shall be dealt
      with
      according to (1)
      below:

     

    
      	(1)  	
              to
                bring a lawsuit at the People’s Court where Party B’s domicile is located;
                or

            

    

     

    
      	(2)  	
              to
                submit the dispute to [intentionally
                left blank]
                Arbitration Commission (the place of arbitration is [intentionally
                left blank])
                for arbitration according to its arbitration rules then effective
                at the
                time of submission. The arbitration award shall be final and binding
                on
                the two Parties.

            

    

     

    In
      the
      course of lawsuit or arbitration, the Parties shall continue to perform those
      provisions in this Contract which are not under dispute.

     

    Article
      12 Other
      Matters Agreed

     

    Article
      13 Effectiveness
      of this Contract

     

    This
      Contract shall become effective after it is signed by both Parties’ legal
      representative (person in charge) or authorized representative and stamped
      with
      both Parties’ corporate seal.

     

    Article
      14 This
      Contract shall be made in six counterparts.
      Each Party hereto shall hold one.

     

    Article
      15 Representations

     

    
      	(1)  	
              Party
                A is fully aware of Party B’s business scope and scope of
                authority.

            

    

     

    
      	(2)  	
              Party
                A has perused
                each clause in this Contract. As requested by Party A, Party B has
                explained correspondingly clauses in this Contract. Party A is fully
                aware
                of and understands the meaning and corresponding legal consequences
                of
                each clause in this Contract.

            

    

     

    
      	(3)  	
              Party
                A has the right to sign this Contract.

            

    

     

    Party
      A (corporate seal): Denong
      Zhengcheng Seed Limited

     

    Legal
      representative (person in charge) or authorized representative (signature):
      

     

    
      	 	 	 	 
	
              /s/
                Changyong Zeng

            	 	 	
            
	
              

            	 	 	
            
	
              /s/
                CORPORATE SEAL

            	 	 	
            
	
              
                

              

            	 	 	 

    

     

    Party
      B (corporate seal): Deyang
      City Commercial Bank 

     

    Legal
      representative (person in charge) or authorized representative (signature):
      

     

    
      	
            	 	 	 
	
              /s/
                

            	 	 	
            
	
              

            	 	 	
            
	
              
                /s/
                  CORPORATE SEAL

              

            	 	 	
            
	
              
                

              

              February
                13, 2006

            
	
              Deyang
                City Commercial BankEXHIBIT
      4.33

    LOAN
      AGREEMENT

     

    This
      Loan
      Agreement (the “Agreement”)
      is made
      by and between the following parties on January 19, 2006:

     

    (1)
      Lender (hereinafter referred to as “Party A”): Beijing
      Origin Seed Limited;
      and

     

    (2)
      Borrower (hereinafter referred to as “Party B”): Wanzhong
      Chen, Jidan Sheng.

    

    The
      Lender and the Borrower are hereinafter collectively referred to as “Both
      Parties” and individually as a “Party.”

    

    WHEREAS:

    

    Party
      A,
      Party B and other Parties have entered into an agreement on jointly investment
      in the establishment of a new company. According to the agreement, Party B
      shall
      pay RMB
      9,900,000,
      which
      accounts for
      33% of
      the
      new company’s registered capital.

    

    THEREFORE,
      through
      friendly negotiation and under principle
      of equality and mutual benefit,
      Party A
      agrees to release loan to Party B as part of the latter’s investment, and the
      following agreement have been reached by both parties regarding the aforesaid
      loan hereof:

    

    ARTICLE
      ONE

     

    Both
      parties agree that Party A shall lend Party B RMB
      6,500,000(hereinafter
      referred to as “the loan”) exclusively for Party B’s payment of 21.67%
      registered capital of the new company. Under additional negotiation, Both
      parties shall enter into another agreement regarding the repayment of the
      loan.

    

    ARTICLE
      TWO

     

    As
      per
      Party B’s request, Party A agrees to deposit the loan into Mr.
      Jidan Sheng’s banking
      account within 3 days after the
      effectiveness of this Agreement.

    

    ARTICLE
      THREE

     

    This
      Agreement shall come into effect after it is signed by both
      Parties.

    

    ARTICLE
      FOUR

     

    Both
      parties shall be in compliance with any articles or terms set forth in this
      agreement. it shall be deemed breach of the agreement if any party fails to
      comply with any obligation. The defaulting party shall bear all liabilities
      for
      breach of the agreement and compensate the loss of the opposite
      party.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      4.33

    ARTICLE
      FIVE

     

    Any
      dispute arising from the execution of or related to this agreement shall be
      settled through negotiation. If no settlement could be reached, any party has
      the right to bring a lawsuit regarding the dispute to any People’s Court, which
      has the jurisdiction.

    

    ARTICLE
      SIX

     

    In
      case
      of any modification, both parties shall enter into a written agreement through
      negotiation. If no agreement could be reached, this agreement hereunder shall
      still be effective. Any amendment, translation or waiver
      to any
      articles hereunder shall be deemed invalid without both parties’ written
      agreement. 

    

    ARTICLE
      SEVEN

     

    This
      Agreement is made in
      duplicate oone
      text
      for each party. Both parties may sign the copy of this agreement with the same
      legal force of the text.

     

    (END
      OF THE CONTENENT)

     

    Party
      A (corporate seal): Beijing Origin Seed Limited.

     

    Legal
      representative (person in charge) or authorized representative (signature):
      

     

    
      	 	 	 	 
	
              /s/
                Gengchen
                Han

            	 	 	
            
	
              

            	 	 	
            
	
              /s/
                CORPORATE SEAL

            	 	 	
            
	
              

            	 	 	 

    

    

    Party
      B:

    Authorized
      representative (signature):

     

    
      	
              /s/Wanzhong
                Chen, Jidan Sheng.

            	 	 	
            
	
              

            	 	 	
            

    

    
      
        
        

      

       

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      4.33

    SUPPLEMENTARY
      AGREEMENT

    

    This
      Supplementary Agreement is made by and between the following parties on November
      9, 2006:

     

    (1)
      Lender (hereinafter referred to as “Party A”): Beijing
      Origin Seed Limited;
      and

     

    (2)
      Borrower (hereinafter referred to as “Party B”): Wanzhong
      Chen, Jidan Sheng.

    

    WHEREAS:

     

    Both
      parties have entered into the Loan
      Agreement
      on
      January 19, 2006(hereinafter referred to as “the Loan Agreement”).
      According to the Loan Agreement, Party B shall borrow Party A RMB
      6,500,000(hereinafter
      referred to as “the loan”) as part of Party B’s investment in Jilin
      Changrong Hi-tech Seed Limited.
      Therefore, through friendly negotiation between Lender and Borrower, the
      following agreements have been reached regarding the repayment of the loan
      hereof:

    

    ARTICLE
      ONE

     

    Both
      parties agree, the term of the loan is 3
      years commencing
      from the date when both parties signed this Loan Agreement. The interest shall
      be calculated and settled at the interest rate for the loan of same grade
      announced by the Bank on the date of the loan repayment.

    

    ARTICLE
      TWO

     

    Both
      parties agree, Party B shall repay the loan with the dividend on its capital
      share in Jilin
      Changrong Hi-tech Seed Limited.

    

    ARTICLE
      THREE

     

    This
      Supplementary Agreement shall become effective after it is signed by both
      Parties.

    

    ARTICLE
      FOUR

     

    This
      Supplementary Agreement is a supplement to and an effective component of the
      loan agreement, and both agreements have the equal legal
      force.

    

    ARTICLE
      FIVE

     

    This
      Supplementary Agreement is made in
      duplicate oone
      text
      for each party.

     

    Party
      A (corporate seal): Beijing Origin Seed Limited.

     

    Legal
      representative (person in charge) or authorized representative (signature):
      

     

    
      	 	 	 	 
	/s/
              Jeff Wang, Xilin Huang	 	 	
            
	
              

            	 	 	
            

    

    

    Party
      B:

    Authorized
      representative (signature):

    
      	
            	 	 	 
	/s/Wanzhong
              Chen, Jidan Sheng.

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