Document:

Exhibit 10.39

Exhibit 10.39

10.39 Transportation Lease Agreement, between Shandong Xiangrui and 
Shandong Runyin
Bio-chemical Co., Ltd. 

Party A (Lessor): Shandong Runyin Bio-chemical Co., Ltd.

Party
B (Lessee): Shandong Xiangrui

	•	 	General Information

	 	•	 	Pursuant to the agreement Shandong Runyin Bio-chemical Co.,
Ltd. rent out vehicles to Shandong Xiangrui.

	 
	 	•	 	The rent shall be RMB 100 per vehicle and RMB 1 per kilometer for each day.
The rent shall be paid once each month.

	 
	 	•	 	The maintenance, insurance, driver and toll charge shall be on Shandong
Runyin Bio-chemical Co., Ltd.’s cost.

	 
	 	•	 	Shandong Xiangrui shall pay the rent before the 10th of next
month.

	 
	 	•	 	Either party shall not rescind this agreement without counterpart’s
consent.

	•	 	Headlines of the articles omitted

	 	•	 	Dispute Settlement

	 
	 	•	 	Breach of the Agreement

	 
	 	•	 	MiscellaneousExhibit 10.40

Exhibit 10.40

10.40 Steam Purchase Agreement between Shandong Xiangrui and

Shandong Runyin Bio-chemical Co., Ltd.

Party A (the Supplier): Shandong Runyin Bio-chemical Co., Ltd.

Party
B (the Purchaser): Shandong Xiangrui

	•	 	General Information

	 	•	 	Pursuant to the agreement Shandong Runyin Bio-chemical Co., Ltd. shall
supply steam to Shandong Xiangrui.

	 
	 	•	 	The price shall be RMB 113 per ton.

	 
	 	•	 	The term shall be from January 1, 2009 to December 31, 2014.

	 
	 	•	 	Shandong Xiangrui shall pay the price before 5th of the next month.

	•	 	Headlines of the articles omitted

	 	•	 	Dispute Settlement

	 
	 	•	 	Breach of the Agreement

	 
	 	•	 	MiscellaneousExhibit 10.41

Exhibit 10.41

10.41 Electricity Purchase Agreement, dated January 1, 2009, between

Shandong Xiangrui and Shandong Runyin Bio-chemical Co., Ltd.

Party A (Supplier): Shandong Runyin Bio-chemical Co., Ltd.

Party
B (Purchaser):  Shandong Xiangrui

	•	 	General Information

	 	•	 	Pursuant to the agreement Shandong Runyin Bio-chemical Co., Ltd. supplies
electricity to Shandong Xiangrui

	 
	 	•	 	The price should be RMB 0.68679/KWH, the supply term is from January 1, 2009
to December 31, 2014.

	 
	 	•	 	The disputes between each party shall be resolved by local court.

	•	 	Headlines of the articles omitted

	 	•	 	MiscellaneousExhibit 10.42

Exhibit 10.42

10.42 Auxiliary Materials Purchase Agreement, dated January 1, 2009,

between Shandong Xiangrui and Shandong Runyin Bio-chemical Co., Ltd.

Party A (Supplier): Shandong Runyin Bio-chemical Co., Ltd.

Party
B (Purchaser): Shandong Xiangrui

	•	 	General Information

	 	•	 	Pursuant to the agreement Shandong Runyin Bio-chemical Co., Ltd. supplies
auxiliary materials, such as H2, coal, soft water and sulfur,
to Shandong Xiangrui.

	 	•	 	The price for H2 should be RMB 60 for Stearic acid
consumed per ton, and the coal should be RMB 585 per ton, soft water should be RMB
1.775 per cubic, sulfur should be RMB 351 per ton.

	•	 	Headlines of the articles omitted

	 	•	 	MiscellaneousExhibit 10.43

Exhibit 10.43

10.43 Steam Sales Agreement between Shandong Xiangrui and Shandong

Xinrui Chemical Devices Co., Ltd.

Party A (the Supplier): Shandong Xiangrui

Party
B (the Purchaser): Shandong Xinrui Chemical Devices Co., Ltd.

	•	 	General Information

	 	•	 	Pursuant to the agreement, Shandong Xiangrui suppliers steam to Shandong
Xinrui Chemical Devices Co., Ltd.

	 
	 	•	 	The price shall be RMB 113 per ton.

	 
	 	•	 	The term shall be from January 1, 2009 to December 31, 2014.

	 
	 	•	 	Shandong Xinrui Chemical Devices Co., Ltd. shall pay the steam before
5th of the next month.

	•	 	Headlines of the articles omitted

	 	•	 	Dispute Settlement

	 
	 	•	 	Breach of the Agreement

	 
	 	•	 	MiscellaneousExhibit 10.44

Exhibit 10.44

10.44 Electricity Sales Agreement, dated January 1, 2009, between

Shandong Xiangrui and Shandong Xinrui Chemical Devices Co., Ltd.

Party A (the Supplier): Shandong Xiangrui

Party
B (the Purchaser): Shandong Xinrui Chemical Devices Co., Ltd.

	•	 	General Information

	 	•	 	Pursuant to the agreement Shandong Xiangrui supplies electricity to
Shandong Xinrui Chemical Devices Co., Ltd.

	 	•	 	The price should be RMB 0.68679/KWH, the supply term is from January 1, 2009
to December 31, 2014.

	 
	 	•	 	The disputes between each party shall be resolved by local court.

	•	 	Headlines of the articles omitted

	 	•	 	MiscellaneousExhibit 10.45

Exhibit 10.45

10.45 Loan Agreement between Shandong Xiangrui and Bank of

Communications, Tai’an Branch, dated August 23, 2011, for RMB 5 million

[English Translation of Summary]

	•	 	Main contents:

	 	•	 	Contract No.: S379110M120110186785

	 	•	 	Borrower: Shandong Xiangrui Pharmacy Co., Ltd.

	 	•	 	Lender: Bank of Communications, Tai’an Branch

	 	•	 	Loan Amount (RMB): RMB 5 million

	 	•	 	Purpose of the Loan: purchase of goods

	 	•	 	Contract Term: August 23, 2011 to August 23, 2012

	 	•	 	Interest Rate:

	 	•	 	The annual interest rate is 30% above the benchmark
interest rate at the day of the loan delivery;

	 	•	 	Penalty interest rate for delayed repayment: annual
interest rate plus 50%;

	 	•	 	Penalty interest rate for embezzlement of loan proceeds:
annual interest rate × 2;

	 	•	 	Rights and Obligations of the Lender:

	 	•	 	Lender is entitled to principal and interests according
to the agreement.

	 	•	 	Lender is entitled to get the information such as
Borrower’s operation, financial activities, inventory and loan usage. Lender
could require disclosure of Borrower’s financial status.

	 	•	 	Rights and Obligations of the Borrower

	 	•	 	Borrower is entitled to obtain and use the loan pursuant
to the agreement.

	 	•	 	Borrower shall return the principal on August 23, 2012
and pay the interests per month.

	 	•	 	Borrower must make the usage of the money in conformity
with the purpose of the loan contracted in the agreement.

	 	•	 	Borrower should the information such as Borrower’s
operation, financial activities, inventory and loan usage at the request of
Lender.

	 	•	 	Under the following circumstances, Borrower should notice
Lender in written 30 days in advance: (1) Borrower sells, donates, rents,
lends, transfers, mortgages, pledges or disposes whole or majority assets in
other manners; (2) Material change takes place to the organization of
Borrower.

 

 

 

	 	•	 	Under the following circumstances, Borrower should notice
Lender in written 7 days: (1) Borrower change articles of
associate, name, legal representative, address or business scope; (2)
Borrower apply for bankruptcy; (3)Borrower is involved in material
litigation, arbitration or its material assets are under regulated;
(4)Borrower provides guarantee to others; (5) Borrower signs material
contracts; (6) Borrower’s business license is revoked; (7) Abnormal change
to Borrower or its high lever management personnel; (8) Financial
difficulties happen to Borrower; (9) The amount of related party transaction
exceeds 10% of net asset of Borrower.

	 	•	 	When the guaranty capability of Guarantor under the
agreement or the value of any mortgaged items under the agreement get
detriment, Borrower should offer other guaranty or mortgage accepted by
Lender timely.

	 	•	 	Borrower bears the relevant fees under the agreement.

	 	•	 	Prepayment of the Loan:

Lender’s consent should be obtained if Borrower is willing to prepay the loan. The
interest rate of prepayment shall accord with the agreement.

	 	•	 	Liabilities of Breach of Contract:

Damages, penalty interest for delayed repayment; penalty interest for embezzlement
of loan proceeds; imposition of compound interest; withdrawal of loan, prepayment of
principal and interest before maturity, attachment of assets; lawyer’s fee and
travel cost in case of litigation or arbitration due to the Company ’s breach of
contract etc.

	 	•	 	Guarantee of the loan:

The loan is secured by Guaranty Contract (Contract No.: 379110A2201100184860) and
Guaranty Contract (Contract No.: 379110A2201100184867).

	•	 	Headlines of the articles omitted

	 	•	 	Types of the loan

	 	•	 	Clearing of the loan interest

	 	•	 	Condition precedent to the drawing of the loan

	 	•	 	Dispute settlement

	 	•	 	Miscellaneous

	 	•	 	Effectiveness

	 	•	 	Validity

	 	•	 	AttentionExhibit 10.46

Exhibit 10.46

10.46 Guaranty Contract between Runyin Biochemical and Bank of

Communications, Taian Branch, dated on August 23, 2011 for RMB 5 million

[English Translation of Summary]

	•	 	Main Contents

	 	•	 	Contract No.: 379110A2201100184860

	 	•	 	Guarantor: Shandong Runyin Biochemical Co., Ltd.

	 	•	 	Guarantee: Bank of Communications, Taian Branch

	 	•	 	As guarantor, Shandong Runyin Biochemical Co., Ltd. undertakes to assume
joint and several liabilities for Shandong Xiangrui Pharmacy Co., Ltd.’s indebtedness
towards Bank of Communications under a Loan Agreement with Contract No.:
S379110M120110186785.

	 	•	 	Secured Items: the loan principal, interest, penalty interest, damages,
compensation and all the expenses incurred for Bank of Communications to realize its
creditor’s right under Loan Agreement;

	 	•	 	Guaranty period:

	 	•	 	Two years from the expiry date that Shandong Xiangrui
Pharmacy Co., Ltd. should fulfill its obligations in accordance with Loan
Agreement;

	 	•	 	If term of Loan Agreement is extended, guaranty period
shall be two years from the expiry date for Shandong Xiangrui Pharmacy Co.,
Ltd. to fulfill its obligations according to the extended agreement;

	 	•	 	If due to the provisions of relevant PRC law or
regulations or any agreement reached under Loan Agreement, any loan becomes
mature ahead of its term, guaranty period shall be two years starting from
the advance mature date.

	 	•	 	Liabilities of Breach of Contract: Guarantor shall compensate Warrantee any
loss suffered from Shandong Xiangrui Pharmacy Co., Ltd.’s breach of contract.

	•	 	Headlines of the articles omitted

	 	•	 	Commitment of guarantor

	 	•	 	Assumption of guarantor’s responsibility

	 	•	 	Dispute settlement

	 	•	 	Miscellaneous

	 	•	 	Effectiveness

	 	•	 	Validity

	 	•	 	Attention

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