Document:

Exhibit
10.2

    English
Summary of the Conditional Sale and Purchase Agreement

    

    DATE:  July 10,
2010

    

    WONDER
AUTO LIMITED

    (as
the Seller A)

    

    And

    

    YEARCITY
LIMITED

    (as
the Seller B)

    

    And

    

    JIN
YING LIMITED

    (as
the Buyer)

     

    
      
        

      

    CONDITIONAL
SALES AND PURCHASE AGREEMENT

    

    re

    

    4,015
Outstanding Shares of

    

    APPLAUD
GROUP LIMITED

     

    
      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Index

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  Clause No.

                                	 	
                                  Headings

                                	 
      
	 
      	 	 
      	 
      
	
                                  1

                                	 	
                                  Interpretation

                                	 
      
	
                                  2

                                	 	
                                  Purchase
      and Sales of Shares

                                	
                                  3

                                
	
                                  3

                                	 	
                                  Pre-conditions

                                	 
      
	
                                  4

                                	 	
                                  Consideration

                                	
                                  3

                                
	
                                  5

                                	 	
                                  Completion
      of Transaction

                                	
                                  4

                                
	
                                  6

                                	 	
                                  Warranties
      & Covenants

                                	
                                  5

                                
	
                                  7

                                	 	
                                  Confidentiality

                                	
                                  5

                                
	
                                  8

                                	 	
                                  Other
      Warrants

                                	
                                  5

                                
	
                                  9

                                	 	
                                  Notification

                                	
                                  5

                                
	
                                  10

                                	 	
                                  Time
      and No Waiver

                                	
                                  6

                                
	
                                  11

                                	 	
                                  Partial
      Default

                                	
                                  6

                                
	
                                  12

                                	 	
                                  Revision

                                	
                                  6

                                
	
                                  13

                                	 	
                                  Consignment

                                	 
      
	
                                  14

                                	 	
                                  Integration
      of Agreement

                                	
                                  7

                                
	
                                  15

                                	 	
                                  Cost,
      Expense and Taxes

                                	
                                  7

                                
	
                                  16

                                	 	
                                  Duplicates

                                	
                                  7

                                
	
                                  17

                                	 	
                                  Governing
      Law, Jurisdiction and Receiving Agent

                                	
                                  7

                                
	
                                  18

                                	 	
                                  Common
      and Individual Responsibility

                                	 
      
	 
      	 	 
      	 
      
	
                                  Attachment
      I –Description of the public company

                                	 
      
	 
      	 
      
	
                                  Attachment
      II –Description of the company

                                	 
      
	 
      	 
      
	
                                  Attachment
      III- Relevant Warranties

                                	 
      

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    This
Agreement is signed by the Parties below on the 10th day of July,
2010:

    

    Between:
(1)(A)WONDER AUTO LIMITED, a company duly established
and existing under the laws of BVI, with registered office at P.O.Box957,
Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands
(hereinafter “Seller A”)

     

    And
(B)YEARCITY LIMITED, a company duly established
and existing under the laws of BVI, with registered office at P.O.Box957,
Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands
(hereinafter “Seller B”), WATG and YEARCITY
LIMITED are collectively referred to as the “Sellers”

    

    (2)JIN YING LIMITED, a company
duly established and existing under the laws of BVI, with registered office at
P.O.Box957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin
Islands (hereinafter “Buyer”)。

    

    WHEREAS,

    
      	
              (i)

            	
              JINHENG
      AUTOMOTIVE SAFETY TECHNOLOGY HOLDINGS LIMITED (“Listed Company”), a company
      established under the laws of Cayman Islands. As at the date of this
      agreement, authorized capital of the listed company is 100,000,000HK
      dollar and totally divided into 10,000,000,000 common stocks (“Shares of Listed Company”). With per value
      of 0.01 and 476,548,888 stock shares, the company was listed on The Stock
      Exchange of Hong Kong. The further details of the listed company are
      attached to the Attachment I.

            

    

    

    
      	
              (ii)

            	
              Applaud
      Group Limited (the “Company”), a company duly established and
      existing under the laws of BVI, with registered office at P.O.Box957,
      Offshore Incorporations Centre, Road Town, Tortola, British Virgin
      Islands. As at the date of this agreement, the authorized capital of the
      company is $50,000 and totally divided into 5,000,000 common stocks (the
      “Company Shares”). With per value of 0.01 and 10,467 total of shares,of which (i)
      Seller A has 2188 stock shares (the “Seller A Shares”); And (ii)
      Seller B holds 1,827 shares (the “Seller B Shares”). The
      Seller A Shares and Seller B Shares are collectively referred to as
      the “Shares”. Further details
      are listed in Annex 2. As at the date of this agreement, the Company
      holds 231,530,000 stock shares of the Listed Company, constituting
      approximately 48.58% of the total shares of the Listed
      Company.

            

    

    

    
      	
              (iii)

            	
              Subject
      to the terms and conditions of the Agreement, the Sellers agree to sell
      and the Buyer agrees to buy the
Shares.

            

    

    

    NOW,
THEREFORE, the Parties reached the following agreements:

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
      1.          
Definitions

    

    

    
      	
              1.1

            	
              Unless
      otherwise set forth, the terms below shall have the meanings as set out
      hereunder in the context of this Agreement (including its preface and its
      appendixes):

            

    

    

    
      
        
          
            	
                    “associate(s)”

                  	
                    has
      the meaning ascribed thereto in the Listing Rules

                  
	 
      	 
      
	
                    “Business
      Day(s)”

                  	
                    a
      day on which licensed banks in Hong Kong are open for normal banking
      business throughout their normal business hours (excluding Saturdays,
      Sundays and public holidays)

                  
	 
      	 
      
	
                    “Completion”

                  	
                    completion
      of the sale and purchase of the Shares in accordance with the terms and
      conditions of this  Agreement

                  
	 
      	 
      
	
                    “Completion
      Date”

                  	
                    the
      seventh (7th)
      Business Days after all the conditions set forth in section 4.1 have been
      fulfilled or such later date as the parties may agree in
      writing)

                  
	 
      	 
      
	
                    “Lien”

                  	
                    referring
      to all liens, encumbrance, pledge, priority, guarantee and other various
      liabilities in connection of the abovementioned
  agreements

                  
	 
      	 
      
	
                    “Hong
      Kong”

                  	
                    the
      Hong Kong special admin. zone of China

                  
	 
      	 
      
	“Jinheng
      BVI”	
                    Jinheng
      (BVI) Ltd., a company established under the laws of the PRC with limited
      liability, an wholly-owned subsidiary of the Listed
  Company

                  
	 
      	 
      
	
                    “Jinheng
      BVI Agreement”

                  	
                    the
      agreement signed by and between the Listed Company as the seller and Vital
      Glee Development Limited as the buyer for selling of  all
      outstanding shares of Jinheng BVI owned by the Listed
    Company

                  
	 
      	 
      
	
                    “Consistent
      Act Person”

                  	
                    the
      meaning is set forth in the acquisition rules

                  
	 
      	 
      
	
                    “Listing
      Rules”  

                  	
                    the
      rules governing the listing of securities on the stock
      exchange

                  
	 
      	 
      
	
                    “China”

                  	
                    P.R.
      China (for purpose of this agreement, excluding Hong Kong and
      Macao)

                  
	 
      	 
      
	
                    “SEC”

                  	
                    the
      SEC of Hong Kong Stock
Exchange

                  

          

        

      

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              
                	
                        “Acquisition
      Rule”

                      	
                        the
      acquisition rules prevailing in Hong Kong

                      
	 
      	 
      
	
                        “This
      Agreements”

                      	
                        The
      agreement set forth for the selling and purchasing of the selling
      shares

                      
	 	 
	“Relevant
      Warranties”	
                        The
      warranties listed in Attachment III regarding the descriptions, warranties
      and convents stipulated in this Agreement

                      
	 	 
	
                        “HK$”

                      	
                        means
      Hong Kong dollars, the lawful currency of Hong Kong;
and

                      
	 
      	 
      
	
                        “US$”

                      	
                        means
      United States Dollars, the lawful currency of the United States of
      America.

                      
	 
      	 
      
	
                        “%”

                      	
                        per
      cent.

                      

              

            

          

        

      

    

    

    
      	
              1.2

            	
              Except
      otherwise defined, all terms in this Agreement have the same meaning
      stipulated.

            

    

    

    
      	
              1.3

            	
              The
      title of this Agreement has no influence to nature of this
      Agreement.

            

    

    

    
      	
              1.4

            	
              Any
      insertion of contents and clauses of this Agreement shall not have the
      same legal effect as this
Agreement.

            

    

    

    
      	
              1.5

            	
              Except
      otherwise stipulated, any clause, table or appendix is referred to from
      this Agreement.

            

    

    

    
      	
              1.6

            	
              The
      regulations, rules and other laws are in connection with the timely
      updates of themselves.

            

    

    

    
      2.   
    Purchase and Sales of
Shares

    

    

    
      	
              2.1

            	
              Subject
      to the terms of this Agreement, the Sellers agree to sell and the Buyer
      agrees to buy the Shares. The Shares shall be subject to no
      Lien.

            

    

    

    
      	
              2.2

            	
              Unless
      all Shares are sold at the same time, the Seller has no obligation to sell
      any Shares.

            

    

    

    
      	
              3.

            	
              CONSIDERATION

            

    

    

    
      	
              3.1

            	
              The
      total consideration for the Shares is HK$162,000,000, of which,
      HK$88,282,940 will be paid to the Seller A and HK$73,717,060 will be paid
      to the Seller B.

            

    

    

    
      	
              3.2

            	
              The
      total consideration as set forth in clause 3.1 will be paid after the
      Completion Date and within 10 Business Days after (i) the Company, as a
      shareholder of the Listed Company receives the special cash dividend
      according to the clause 4.1 in Jinheng BVI Agreement; and (ii) Buyer, as
      the Company’s shareholder, shall have received the special cash dividend
      distributed by the Company. The parties agree that no consideration will
      be paid on the Completion Date.

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      	
              3.3

            	
              The
      parties hereby agree that the Sellers have no rights to the special cash
      dividend distributed by the Company to its shareholders, and the special
      cash dividend belong to the Buyer. As such, the record date for the
      distribution of special cash dividend by the Company to its shareholders
      shall be a date after the Completion
Date.

            

    

    

    
      4.      
Closing
Conditions

    

    

    
      	
              4.1

            	
              The
      completion of the transactions contemplated by this Agreement is
      conditional upon the satisfaction of the following
    conditions:

            

    

    

    
      	
               
      

            	
              (1)

            	
              the
      Sellers, the Buyer and the Company have each received all necessary
      consents and authorizations required for the sell of
    Shares;

            

    

    

    
      	
               
      

            	
              (2)

            	
              all
      condition precedents for the Jinheng BVI Agreement have been satisfied
      (except for the condition that this Agreement shall become
      unconditional);

            

    

    

    
      	
              4.2

            	
              The
      Sellers and the Buyer shall use its best efforts to cause the satisfaction
      of the conditions set forth in clause 4.1 above, including provision of
      all necessary documents and materials to the Listed Company, the SEC, Hong
      Kong Stock Exchange and other government
  agencies.

            

    

    

    
      	
              4.3

            	
              If
      the above conditions have not been satisfied on or before September 30,
      2010 or such later date as the parties may agree in writing (except for
      clauses 7, 9, 15, 17 and 18), this Agreement will be terminated, in which
      case, either party shall be liable to the other party except for any
      breach occurred before the
termination.

            

    

    

    
      	
              5.

            	
              Completion
      of Transaction

            

    

    

    5.1    Closing
shall take place on or before 5pm (or other dates designated by the Buyer) on
the date of satisfaction of all the conditions set forth in Clause 4.1. The
closing of this Agreement shall be held simultaneously with the closing of the
Jinheng BVI Agreement.

    

    
      	
              5.2

            	
              The
      following documents shall be delivered by the Seller to the
      Buyer:

            

    

    

    
      	
            	
              (1)

            	
              documents
      for the transfer of the Shares to the Buyer signed by the
      Seller;

            

    

    

    
      	
               
      

            	
              (2)

            	
              other
      documents relevant to the transfer of the interest of the
      Shares;

            

    

    

    
      	
               
      

            	
              (3)

            	
              the
      registration and other corporate
documents;

            

    

    

    
      	
               
      

            	
              (4)

            	
              the
      record of corporation, shareholder list, directors list, and other
      documents in related with this
transaction;

            

    

    

    
      	
               
      

            	
              (5)

            	
              the
      resignation letter of Qingjie Zhao as director of the Company, and the
      resignation letter have been confirmed by both the Buyer and the
      Seller;

            

    

    

    
      	
               
      

            	
              (6)

            	
              the
      resignation letter of Qingjie Zhao and Qingdong Zeng as directors of the
      Listed Company, and the resignation letter have been confirmed by both the
      Buyer and the Seller ;

            

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (7)

            	
              the
      copy of the Board meeting minutes signed by a director stipulated and the
      approval of this Agreement, and authorizing one or more people (when
      necessary) to sign this Agreement.

            

    

    

    
      	
              5.3

            	
              The
      Seller shall urge the board of the Company to hold a board meeting and
      approve the followings:

            

    

    

    
      	
               
      

            	
              (1)

            	
              to
      approve the transaction for the sale of  the Shares to the
      Buyer;

            

    

    

    
      	
               
      

            	
              (2)

            	
              to
      accept the requirements in clause 5.2(5) on resignation of all directors,
      and

            

    

    

    
      	
              5.4

            	
              The
      Buyer shall provide the following documents upon completion of the
      transaction:

            

    

    

    
      	
            	
              (1)

            	
              documents
      for the transfer of the Shares to the Buyer signed by the
      Buyer;

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      board resolution signed by a director of the
  Seller;

            

    

    

    
      	
              5.5

            	
              In
      case the Buyer could not meet the requirements stipulated in clause 5.4,
      the Seller shall:

            

    

    

    
      	
               
      

            	
              (1)

            	
              to
      postpone the completion of the transaction up to 28 day,
  or

            

    

    

    
      	
               
      

            	
              (2)

            	
              to
      implement its obligation regardless the default of the Buyer,
      or

            

    

    

    
      	
               
      

            	
              (3)

            	
              to
      terminate this Agreement.

            

    

    

    
      	
              6.

            	
              Warranties
      & Covenants

            

    

    

    
      	
              6.1

            	
              The
      Seller testifies that the warranties stipulated in the Attachment III are
      accurate and true.

            

    

    

    
      	
              7.

            	
              Confidentiality

            

    

    

    
      	
              7.1

            	
              Except
      otherwise agreed by the other parties, or required by laws and
      regulations, the Parties of this Agreement shall not make public
      announcement, press release or other public disclosures
      allowed.

            

    

    

    
      	
              7.2

            	
              No
      disclosure of any information of this Agreement to persons other than the
      persons involved in the preparation and implementation of this
      transaction.

            

    

    

    
      	
              8.

            	
              Other
      Warrants

            

    

    

    
      	
              8.1

            	
              The
      Seller shall sign or urge other necessary person to provide warrants to
      ensure the Buyer’s interests.

            

    

    

    
      	
              9.

            	
              Notification

            

    

    

    
      	
              9.1

            	
              All
      related notifications shall be sent to the following
      addresses:

            

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    To the Seller A:  WONDER AUTO
LIMITED

    
      	
              add.

            	
              :

            	
              No.56,
      Lingxi Avenue, Taihe District,

              Jinzhou
      City, Lioaning Province, China

               

            
	
              fax

            	
              :

            	
              +86
      416 5180163

            
	
              attn

            	
              :

            	
              The
      Board

            

    

    

    To the Seller B:   YEARCITY
LIMITED

    
      	
              add.

            	
              :

            	
              No.56,
      Lingxi Avenue, Taihe District,

              inzhou
      City, Liaoling Province,  PR China

               

            
	
              fax

            	
              :

            	
              +86
      416 5180163

            
	
              attn

            	
              :

            	
              The
      Board

            

    

    

    To the Buyer:      Jinheng
Auto Safety Technology Holdings Limited

    
      	
              add.

            	
              :

            	
              Unit
      605, 6/F, Beautiful Group Tower, 74-77,

              Connaught
      Road Central, Central,

              Hong
      Kong

            
	
              fax

            	
              :

            	
              852-2542
      0280

            
	
              attn

            	
              :

            	
              Tianzhong
      Fu

            

    

    

    
      	
              9.2

            	
              All
      notifications shall be delivered to the indicated addresses by (i) post
      mail, (ii) personal delivery, and  (iii)
  fax.

            

    

    

    
      	
              9.3

            	
              The
      Seller irrevocably appoints Mr. Tianzhong Fu to receive all documents and
      notifications of this transaction.

            

    

    

    
      	
              10.

            	
              Time
      and No Waiver

            

    

    

    
      	
              10.1

            	
              Time
      is of essence in this Agreement, while no delay or waiver of obligations
      of the other party in case of one party no implementation or delay its
      implementation of this Agreement.

            

    

    

    
      	
              11.

            	
              Partial
      Default

            

    

    

    
      	
              11.1

            	
              The
      effectiveness, validity and enforceability of other clauses in this
      Agreement shall not be swayed by any jurisdiction
  changes.

            

    

    

    
      	
              12.

            	
              Revision

            

    

    

    
      	
              12.1

            	
              No
      revision, supplement or change shall be made unless signed by both parties
      of this Agreement.

            

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    
      	
              13.

            	
              Transfer

            

    

    

    
      	
              13.1

            	
              No
      party to this agreement can transfer its rights or obligations under this
      Agreement without pre-approval of the other
  party.

            

    

    

    
      	
              14.

            	
              Integrate
      of Agreement

            

    

    

    
      	
              14.1

            	
              This
      Agreement is the final in replace any previous contracts, arrangements,
      statements or transactions between the
parties.

            

    

    

    
      	
              15.

            	
              Cost, Expense and
      Taxes

            

    

    

    
      	
              15.1

            	
              The
      parties agreed to bear its own expenses incurred during the preparation,
      discussion and implementation of this
Agreement.

            

    

    

    
      	
              15.2

            	
              The
      taxes applied to the transaction under this Agreement shall be borne by
      the Seller and The Buyer itself.

            

    

    

    
      	
              16.

            	
              Duplicates

            

    

    

    
      	
              16.1

            	
              This
      Agreement may be duplicated in any amount for signature. And all signed
      copies shall be deemed as parts of the integration of this
      Agreement.

            

    

    

    
      	
              17.

            	
              Governing
      Laws and Jurisdictions

            

    

    

    
      	
              17.1

            	
              This
      Agreement is governed by Hong Kong
laws.

            

    

    

    
      	
              17.2

            	
              All
      parties of this Agreement is under the jurisdiction of Hong Kong
      Court.

            

    

    

    18
 Joint and individual responsibility

    

    18.1 The
seller must take jointly and individually responsibility of the
Agreement.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    
      Attachment
I

    

    

    
      Details of Listed
Company

    

    

    
      
        	
                Company

              	
                :

              	
                Jinheng
      Automotive Safety Technology Holdings Limited

                 

              
	
                Register

              	
                :

              	
                British
      Cayman Islands

                 

              
	
                Registration
      No.

              	
                :

              	
                133219

                 

              
	
                Funding
      Date

              	
                :

              	
                February
      24, 2004

                 

              
	
                Register
      Office

              	
                :

              	
                Cricket
      Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman
      Islands

                 

              
	
                Register
      Capital

              	
                :

              	
                HK$100,000,000.00
      divided to 10,000,000,000 shares with HK$0.01 par value

                 

              
	
                Outstanding
      Capital

              	
                :

              	
                HK$4,765,488.88
      divided to 476,548,888 shares with HK$0.01 par value

                 

              
	
                Sharehold

              	
                :

              	
                name

              	
                ownership

              
	 
      	 
      	 
      	 
      
	 
      	 
      	
                Applaud
      Group Limited

              	
                48.58%

              
	 
      	 
      	 
      	 
      
	 
      	 
      	
                others

              	
                51.42%

              
	 
      	 
      	 
      	 
      
	
                Director

              	
                :

              	
                Executive
      directors:

                Li
      Feng, Xing Zhanwu, Zhao Qingjie, Yang Donglin, Fu Tianzhong

                 

                Non-executive
      directors:

                Li
      Hongwei, Zeng Qingdong

                 

                Independent
      directors:

                Xu
      Hongqun, Huang Shilin, Zhu Tong

                 

              
	
                Main
      Business

              	
                :

              	
                Design,
      R&D, manufacture and sales of auto safety airbag
  system

              

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    
      Attachment
II

    

    

    
      Company
Details

    

    

    
      
        	
                Company

              	
                :

              	
                Applaud
      Group Limited

                 

              
	
                Register

              	
                :

              	
                British
      Virgin Islands

                 

              
	
                Registration
      No.

              	
                :

              	
                559246

                 

              
	
                Funding
      Date

              	
                :

              	
                September
      8, 2003

                 

              
	
                Register
      Office

              	
                :

              	
                P.O.
      Box 957, Offshore Incorporations Center, Road Town, Tortola, British
      Virgin Islands

                 

              
	
                Register
      Capital

              	
                :

              	
                US$50,000.00
      divided into 5,000,000 shares with US$0.01 par value

                 

              
	
                Outstanding
      Capital

              	
                :

              	
                US$104.67
      divided into 10,467 shares with US$0.01 par value

                 

              
	
                Shareholders

              	
                :

              	
                name

              	
                ownership

              
	 
      	 
      	 
      	 
      
	 
      	 
      	
                Wonder
      Auto Limited

              	
                2,188
      shares, 20.90%

              
	 
      	 
      	 
      	 
      
	 
      	 
      	
                Yearcity
      Limited

                 

                Li
      Feng

                 

                Xing
      Zhanwu

                 

                Xu
      Jianzhong

                 

                Li
      Hong

                 

                Yang
      Donglin

                 

                Cao
      Feng

                 

                Zhao
      Jiyu

              	
                1,827
      shares, 17.46%

                 

                2,978
      shares, 28.45%

                 

                726
      shares, 6.94%

                 

                750
      shares, 7.17%

                 

                852
      shares, 8.14%

                 

                590
      shares, 5.63%

                 

                139
      shares, 1.33%

                 

                417
      shares, 3.98%

              
	 
      	 
      	 
      	 
      
	
                Director

              	
                :

              	
                Li
      Feng, Xing Zhanwu, Zhao Qingjie

              
	 
      	 
      	 
      
	
                Main
      Business

              	
                :

              	
                Investment

              

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    
 

    
      Attachment
III

    

    

    
      Relevant
Warranties

    

    

    
      	
              1.

            	
              Share
      Disposal

            

    

    

    
      	
              1.1

            	
              The
      seller is the registered and beneficial shareholder of the
      Shares.

            

    

    

    
      	
              1.2

            	
              Except
      otherwise stipulated in terms of this agreement, the Shares are not
      subject to any mortgage, lien or
pledge.

            

    

    

    
      2.      
 The
Seller

    

    

    
      	
              2.1

            	
              The
      seller has capacity to sign of this Agreement and perform its obligations
      under this agreement (include, not limited to, transfer to the Shares to
      the Buyer)

            

    

    

    
      	
              2.2

            	
              Upon
      signing of this agreement, all terms in this agreement shall be valid and
      bonding to the parties of this
agreement.

            

    

    

    
      3.     
  Miscellaneous

    

    

    
      	
               
      

            	
              The
      statements in the preface and the appendix are true and
      accurate.

            

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    IN WITNESS thereof the
parties have executed this Agreement on the day and year first above
written

     

    
      
        
          
            
              
                
                  	
                          Seller A

                        	 	 
      
	
                          Signed,
      sealed and delivered by

                        	 	
                          )

                        
	
                          For
      and on behalf of

                        	 	
                          )

                        
	
                          WONDER
      AUTO LIMITED

                        	 	
                          )

                        
	
                          in
      the presence of:

                        	 	
                          )

                        
	
                          /S/ CORPORATE SEAL

                        	 	 
      
	 
      	 	 
      
	
                          Seller B

                        	 	 
      
	
                          Signed,
      sealed and delivered by

                        	 	
                          )

                        
	
                          For
      and on behalf of

                        	 	
                          )

                        
	
                          YEARCITY
      LIMITED

                        	 	 
      
	
                          in
      the presence of:

                        	 	
                          )

                        
	
                          /S/ CORPORATE SEAL

                        	 	 
      
	 
      	 	 
      
	
                          Buyer

                        	 	 
      
	
                          Signed,
      sealed and delivered by

                        	 	
                          )

                        
	
                          For
      and on behalf of

                        	 	
                          )

                        
	
                          JIN
      YING LIMITED

                        	 	
                          )

                        
	
                          in
      the presence of:

                        	 	
                          )

                        
	
                          /S/ CORPORATE SEALExhibit
10.3

     

    English
Summary of Trademark License Agreement

    

    This
agreement is signed on the date of July 10, 2010 by the following two
parties:

    

    
      	
              (1)

            	
              Jinheng
      Automotive Safety Technology Holdings Limited, a corporation duly formed
      under the laws of the People Republic of China, with its registered and
      operating place at No. 16, Block 4, Bohai Street, Economic and Technology
      Development Zone, Jinzhou City, Liaoning Province of PRC.(the owner of
      trademark, hereinafter refers to “the owner of
  trademark”)

            

    

    

    
      	
              (2)

            	
              Jinheng
      Automotive Eletronic (HongKong) Limited, a corporation duly formed under
      the laws of the People Republic of China, with its registered place at
      Floor 14 Printing House, 6 Duddell Street, Central HongKong (the licensee
      of trademark, hereinafter refers to “the licensee of
      trademark”)

            

    

    

    Whereas,

     

    Jinheng
Automotive Safety Technology Holdings Limited, a corporation duly formed under
the laws of the People Republic of China, with its registered and operating
place at No. 16, Block 4, Bohai Street, Economic and Technology Development
Zone, Jinzhou City, Liaoning Province of PRC, which is the owner of all
trademarks listed in Appendix 1 (hereinafter refers to “the licensed
trademark”)

    

    The
licensee desires to utilize the Name in China upon and in connection with the
goods, services ( hereinafter refers to “goods and services”) prescribed in
Appendix 2 and Appendix 3 hereinafter described, which was granted by the
owner.

    

    Now,
therefore, in consideration of the mutual promises herein contained, it is
hereby agreed:

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    Definition

    

    Unless
otherwise specified in writing by the Parties, the following terms in this
Agreement shall be interpreted to have the following meanings:

    

    
      Independent
shareholder   for the purpose of approving the Disposal,
Shareholders other than the Purchaser and its associate, including but not
limited to the Controlling Shareholder; and (ii) for the purpose of approving
the Supply Agreements, Shareholders other than Mr. Zhao and Wonder Auto
Technology and their respective associates, including the Controlling
Shareholder

    

    HKEx                     means
Hong Kong Exchanges and Clearing Limited

    Listing
Rules         The Rules
Governing the Listing of Securities on the HongKong Stock Exchange

    

    
      “Equity
transfer Agreement” is signed by the Listing Company as the seller, and
Vital Glee Development Limited as the buyer, and Vital Glee Development Limited
hereby consents to acquire and the Listing Company consens to sell all the
outstanding shares issued by Jinheng BVI.

    

    

    
      
        	
                1.

              	
                (a)

              	
                WHEREAS,
      Licensee had paid 1 Renminbi as the licensed fee to the owner, owner
      hereby grants to Licensee to utllize such Licensed Trademarks during the
      Licensed Term and in the Licensed Territory for the purpose of provision
      of Licensed Services.

              

      

    

    

    
      	
                

            	
              (b)

            	
              The
      licensee is granted to have the non-exclusive right to utlize the
      Trademarks by this agreement.

            

    

     

    
      	
                

            	
              (c)

            	
              Any
      amendments or supplements to this Agreement shall take effect if any
      amendments or supplements to the licensed trademark during the Licensed
      Territory for the purpose of provision of Licensed Services. If necessary,
      parties consent to sign a new trademark license
  agreement.

            

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
            	
              (d)

            	
              The
      licensee hereby is granted to relicense the rights and obligations, and
      upon the licensed trademarks to third parties (including but not limited
      the subsidiaries and the affiliates to the licensee) without the prior
      consent by the owner. Relicense will terminate at the termination of this
      contact.

            

    

    

    
      	
            	
              (e)

            	
              Any
      corresponding amendments and supplements should not be made to this
      agreement upon the any amendments and supplements made to the trademark
      appendixes by the parties.

            

    

    

    
      	
               
      

            	
              (f)

            	
              In
      addition to The License Fee under Article 1(a), nothing shall be hereof
      paid by the licensee. Any royalties upon the goods and the services hereby
      shall not be paid by the licensee.

            

    

    

    
      
        	
                2.

              	
                
                  (a)    The
      licensee has undertaken with the owner that it will only use the licensed
      Trademarks on specified products, and the owner also consents not to use
      the licensed trademarks other than the automobile safety airbags system
      and safety belts system business, and not to relicense the trademarks to
      the independent third parties. It is also agreed under the Trademark
      Licence Agreement that the owner will not use the licensed trademark upon
      the specified goods and services to aviod competition with eh
      licensee.

                

              

      

    

    

    
      	
               
      

            	
              (b)    The
      owner irrecoverably and unconditioned promises to take all legal actions
      to ensure (i) who be duly the sole owner of the licensed trademark, (ii)
      who duly has the sole right to utilize the licensed trademark, except
      prescribed herein, (iii) ensuring no mortgage on the licensed trademake,
      except prescribed herein, and (iv) ensure no infringement on the
      Intelligence Property owned by independent third
  parties.

            

    

    

    
      	
               
      

            	
              (c)   The
      owner irrecoverably and unconditioned promises to take all legal actions
      to ensure validity of the trademark to protect the bilateral common
      interests.

            

    

    

    
      
        	
                 
      

              	
                
                  (d)   Documents,
      information and data in respect of the licensed trademark should be
      provided upon the request of the
licensee.

                

              

      

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      
      

    

    
      	
              3.

            	
              Any
      changes to the letter, pattern, combinations in connection of the trade
      mark should be forbiddened without permission in writing by the
      owner.  Licensee could not use Such Licensed Trademarks should
      not be utlized byond the scope of the goods and
  services.

            

    

    
      	
              4.

            	
              Printing
      the licensed trademarks on the licensee’s own is granted by the
      owner.

            

    

    
      	
              5.

            	
              Once
      any infringements by any third parties of the rights contained in the
      Licensed Trademarks found, notification should in no time made to the
      owner. No action should be done by the licensee without consent in writing
      by owner.

            

    

    
      	
              6.

            	
              The
      ownership and legal interest of the owner on the licensed trademark is
      ensured by the licensee. Any infringements made by the licensee upon the
      licensed trademark in any form should be forbidden, especially expression
      of ownership of the licensee should be
  forbidden.

            

    

    

    
      	
              7.

            	
              (a) The Trademark
      Licence Agreement shall become effective upon the following conditions
      precedent being satisfied:

            

    

    
      	
               
      

            	
              (i)
      the passing by the Independent Shareholders at the EGM of the necessary
      resolution to approve by the independent shareholders of the licensee,
      Jinheng Automotive Safety Technology Holdings Limted the transactions
      contemplated thereunder, including but not limited to the Trademark
      Licence Agreement;

            

    

    

    
      	
               
      

            	
              (ii)
      All the pre-requisite to the Equity Transfer Agreement should be
      satisfied; and

            

    

    

    (iii)the
consents and authorizations necessarily required to be obtained on the part of
Jinzhou Jinheng and Jinheng Electronic HK in respect of the Trademark Licence
Agreement and the transactions contemplated thereunder having been
obtained.

    

    
      
        	  	
                (b) 

              	
                The
      agreement will be terminated if the pre-requsites prescribed in the 7(a)
      upon or before December 31, 2010, excluding the breach before the
      termination. Parties should not undertake the responsibilites and
      obligations.

              

      

    

     

    
      	  	
              
                (c)

              

            	
              Written notification
      can be given by the owner to terminate the licensed term, if one of the
      following conditiones occur, without considering the above presribed.

            

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
       

    

    
      	
               
      

            	
              i)

            	
              Unable
      to perform the obligations prescribed under the agreement, and taking no
      actions to remedy the bereach within 30
days.

            

    

    

    
      	
               
      

            	
              ii)

            	
              Being
      insolvent in maturity debt, or being insolvent in maturity debt in written
      form, or being unable to allocate the profit
  payable.

            

    

    

    
      	
               
      

            	
              iii)

            	
              To
      file a petition in bankrupcy by
licensee.

            

    

    
      	
               
      

            	
              iv)

            	
              Being
      adjudicated a bankrupt by the Licensee or if a petition in bankruptcy is
      filed against Licensee,

            

    

    

    
      	
               
      

            	
              v)

            	
              existing
      normal operating can not be continued by the licensee as the result of the
      government, law and political
systems.

            

    

    

    
      	
               
      

            	
              7.

            	
              The
      agreement will come into effect upon the date of pre-requsites prescribed
      in Article 7(a) are satisfied, will be effective during the licensed
      term.

            

    

    
      
      

    

     

    9.           The
agreement is govermed and constructed under the laws of the PRC.

    

    [signature
page follows]

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              	
                      Owner’s
      signature and seal

                    
	 
      
	
                      Name

                    
	
                      Title

                    
	/s/
      CORPORATE SEAL
	
                      Licensee’
      s signiture and seal

                    
	 
      
	
                      Name

                    
	
                      Title

                    
	
                      /s/
      CORPORATE
SEAL

                    

            

          

        

      

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    Appendix
I

    

    Licensed Trademark

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    Appendix
II

    

    Applied
Commodity

    

    The design, manufacture and
sales of auto parts (not including but not limited to, auto safety products) and
other products, but not including auto safety airbag system and auto seat belt
system.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    Appendix
III

    

    Applied
Service

    

    To provide inspection
services, and issuing inspection reports, development and design for auto parts
(not including but not limited to, auto safety products) and other products, but
not including auto safety airbag system and auto seat belt
system.

     

    
      
         

      

      
        9

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