Document:

Exhibit 10.33

 

Principal
Contract of Export Remittance 

 

Shenzhen Development
Bank

 

July 2009

 

Special Statement

 

In order to secure your company’s
legitimate interest, before you sign this contract, please read carefully and make sure the accuracy of the following details.

 

		1.	The application files submitted from your company must be true, complete, legitimate, and effective.
Misrepresentation, misleading or significant omission are strictly forbidden.

 

		2.	The applicant must make a thorough reading about every clause, especially for the part with bold
letters. Please confirm you fully understand the meaning and legal consequences of these parts.

 

		3.	Before signing this contract, your company is eligible to update the details. Once the contract
take effect, your company is required to fulfill the obligations as well as sharing the rights of the contract.

 

		4.	For your company’s interest, please contract us in 10 days of any changes, such as living
address, mailing address, contact number, business operating fields, and legal representative.

 

		5.	If you have any question regarding this contract, please feel free to consult our bank.

 

    	 

    	 

    

 

Ref: SDB Chu Rong Zi No. 20110216001

Party A: ShenZhen Development Bank-Dalian
Branch (as "Remittance Bank")

Address: #5 Youhao Square, Zhongshan District
Dalian

Telephone: 0411-82580729

Representative: Tian Longyi          Occupation:
President of Bank

 

Party B: Dailan Tongfa New Material Development
Bank (as "Client")

Address: Lingang Industrial Park, Economic
and Technology District, Dalian

Telephone: 0411-82789758

Representative: Zheng Chuantao       Occupation:
Chairman

 

It's mutually agreed to enter the Contract
and abide by each and every term herein. The Contract sets out two parties' rights and obligations regarding export remittance
and shall not constitute any commitment extended by Remittance Bank to Client. Client shall process remittance export with Remittance
Bank pursuant to the Contract, and any specific item hereunder subject to Client's Application for Export Remittance which
is approved by Remittance Bank and an inseparable part of the Contract.

 

T/T means, in accordance with Client's
(or as "exporter") application, Remittance Bank provides short-term loan to Client which has shipped goods yet received
payments from foreign importer.

 

1. Client agrees to furnish invoices related
to Application for Export Remittance as required. On the other hand, Remittance Bank shall follow international practices
to provide reasonable care to review the said invoices and following communications thereafter. Nevertheless, Remittance Bank shall
hold no liability against any delayed delivery or loss of invoices, any delay or mistakes arising from transmission malfunction,
or any other reasons.

 

2. Remittance Bank shall enjoy recourse
right against Client in connection with export remittance. Remittance Bank shall have right to recourse the entire remitted amount
including principal, interest and expenses, provided that any said invoice has been dishonored, outstanding, discounted or refunded
(not due to significant negligence of Remittance Bank).

 

3. Unless otherwise agreed, Remittance
Bank shall be obligated to extend credit of line given (a.) collaterals in form of mortgage, pledge or guarantee have been offered,
(b.) collateral contract (specifying margin term and representation and guarantee term) signed hereby and (c.) required registration
has been processed.

 

4. Remittance Bank's Presentation and Guarantee

(a) Remittance Bank may deduct the remitted
amount including principal, interest and expenses from any amount received in connection with export remittance hereunder.

 

    	 

    	 

    

 

(b) If Remittance Bank fails to receive
payable due or paid amount falls short of total amount of remitted principal, interest and expenses, at the maturity date, Client
shall reimburse relevant principal, interest and expenses in a timely manner. Additionally, Remittance Bank shall have right to
withdraw the amount of principal, interest and expenses directly from Client's account opened in Shenzhen Development Bank.

(c) Any disputes related to goods or contracts
related to export remittance shall be independent from the Contract. Under no circumstances described forehead shall Client defend
its default in executing any liabilities hereunder.

 

5. Early payment from Client shall obtain
approvals from both parties.

 

6. Default and Liabilities

(a) Default

(i) Client defaults
its obligations hereunder, or expressively states or indicates by behaviors to fail to perform any obligations hereunder.

(ii) Any statements,
documents, representations, guarantees, or commitment furnished by Client are proved to be untruthful, inaccurate, incomplete,
or to incorporate fake records, misleading representation or significant omission.

(iii) Client conceals
any material facts, refusing incorporation with Remittance Bank for review, inspection or investigation.

(iv) Client violates
any other similar contracts made with Remittance Bank or other third party, including but not limited to fiduciary contract, loan
contract or collateral contract, or defaults any security of indenture nature, or involved in any proceedings or arbitration arising
from such similar contracts or securities.

(v) Client's guarantor
violates contracts related to collateral, mortgage or pledge contracts, defaulting collateral contract, or collateral contract
is unenforceable, invalid or revoked.

(vi) Client neglects
company management and due creditor's rights, or transfers its important assets improperly or at unreasonably low price, or evades
its liabilities by other means.

(vii) Client fakes contracts
and arrangements with any other third party (including but not limited to Client's related party), e.g. discounting or pledging
creditor's rights like receivables backed by no transaction background in order to cheat for Remittance Bank's or other bank's
loans or credit line.

(viii) Client intentionally
escapes from its liabilities towards bank via related transaction or other means.

(ix) Client incurs significant
economic problems, worsening financial position, material financial loss, asset loss (including but not limited to asset loss arising
from extending guarantee to third party), or any other financial crisis.

(x) Client is convicted
to have illegal operational behaviors, in the middle of receiving administrative penalty, criminal punishment or investigations
by competent authorities, or is possibly involved into administrative or criminal punishment.

(xi) Client incurs circumstances
like shake-off, merger, acquisition, disposal of important assets, deduction of registered capital, liquidation, reorganization,
deregistration, declared to be bankrupt, or winding-up.

 

    	 

    	 

    

 

(xii) Remittance Bank
believes that change to Client's controlling shareholder or actual controller has or may probably threaten the safety of Remittance
Bank's creditor right, or Client's controlling shareholders, actual controller, legal representative or senior officers are involved
into material events including but not limited to having or possibly having administrative/criminal punishment due to illegal operations
or in the middle of investigation, involving into legal proceeding or arbitration, or worsening financial position, bankruptcy
or winding-up.

(xiii) The industry
Client is devoted to has adverse change which Remittance Bank deems to have or possibly threatened the recognition of its creditor's
right.

(xiv) Client alters
the use of export remittance at its discretion, or appropriates the fund to develop illegal or unregulated transactions.

(xv) Client fails to
settle loans with or put margin to Remittance Bank.

(xvi) Other circumstances
that threaten or may threaten the recognition of creditor's right hereunder.

 

(b) Liabilities

If Client incurs any
of default events stated above, Remittance Bank shall have right to adopt any or multiple following measures:

(i)announcing acceleration
of maturity regarding whole or part of liabilities hereunder and requiring Client to repay any contract-related costs including
due diligence, review, notarization, or attorney fee, legal cost, travel fee, announcement fee, service and execution fee that
paid by Remittance Bank for recognizing its creditor's right.

(ii) ceasing or terminating
to release any loans specified under the Contract.

(iii) having right to
deduct remittance-related principal and expenses directly from Client's or Guarantor's accounts.

(iv) requiring Client
to add new collaterals for creditor's rights hereunder.

(v) excising collateral-related
rights, requiring guarantor to perform its obligation or dispose collaterals to recognize its creditor's right.

(vi) having right to
collect principal, interest, penalty, compound interest or related expenses from Client, or to deduct the above-mentioned amount
directly from Client's account opened in Shenzhen Development Bank, provided that Client fails to repay the remitted principal
and interest as agreed. Remittance Bank shall have right to collect penalty interest calculated as agreed interest rate plus 50%
additional penalty rate, based on remitted amount as of the date of delayed payment. For any delayed interest payable, penalty
shall be compound by penalty rate.

For principal outstanding
within 90 days or fewer, Client shall repay as per the sequences of (aa) interest including penalty and compounded, and (bb) principal.
For principal outstanding exceeding 90 days, payment sequence shall be principal and then interest including penalty and compounded.

 

    	 

    	 

    

 

(vii) If Client alters
the use of remitted loans, Remittance Bank shall be entitled to collect principal, interest, compound, penalty interest and relevant
expenses from Client, or directly deduct the above-set amount from Client's account opened in Shenzhen Development Bank. Remittance
Bank shall have right to adjust interest by adding 100% penalty rate to agreed interest as of the date of appropriation. For any
interest unpayable in time, penalty rate shall be compounded.

(viii) Remittance Bank
shall be impowered by laws to claim subrogation against Client's debtors. Accordingly, Client shall provide all the necessary assistance
as Remittance Bank required. Expenses arising from executing right of subrogation shall be covered by Client.

(ix) pleading court
to revoke Client's any behaviors such as giving up matured creditor's rights, transferring assets without considerations or at
obviously low price. Client shall provide assistance as required and bear all the expenses arising therefrom.

(x) Remittance Bank
shall have lawful and contractual right to claim for other relieves.

 

7. Group Client's Credit Line and Special
Statement about Related Transaction

(a) Group client means the enterprise entity
featured as:

(i) having, direct or
indirect, controlling interest or operational control in other enterprise entity, or being controlled by other enterprise entity.

(ii) commonly controlled
by the third party enterprise

(iii) commonly controlled,
directly or indirectly, by majority shareholders, key management or closed family members (with lineal relationship under three
generations, or collateral relationships under two generations)

(iv) other related relations.
Group client shall be deemed to have credit line manipulation given transferring assets and profits off the fair price.

 

(b) Client shall timely report any transaction
accounting for 10% of its net assets, including relationships among related parties, nature and content of transaction, price or
percentage, and pricing policy (including transaction without prices or very low price).

 

8. Expense Term

(a) Client shall bear any expenses arising
from due diligence, review, notarization, validation or registration in connection with the Contract.

(b) Any expenses incurred by Remittance
Bank for urging Client to pay any unpaid principal and interest, including announcement, service, appraisal, travel, evaluation,
attorney's fee, legal cost, auction, property safety protection and enforcement, shall be borne by Client.

 

9. Amendment and Termination

It's mutually agreed that Client and Remittance
Bank may amend or terminate in writing the Contract from time to time,

 

10. Client's Representations, Guarantees
and Commitment

Client

 

    	 

    	 

    

 

(a) is lawfully set up within its jurisdiction,
effectively existing, holding a good record and all the rights as an enterprise to conduct business as approved by government;

(b) has legitimate rights and authority
to sign, deliver and perform the Contract. The Contract is effective, law-binding and executed by Client

(c) represents that all the materials provided
to Remittance Bank are truthful, complete, lawful, effective, free from any fake records, misrepresentations or material omission.

(d) hereby represents to fulfill each and
every liabilities hereunder with good faith, and shall not develop any behaviors that may threaten the recognition of creditor's
right without obtaining Remittance Bank's consent.

(e) hereby represents to notify Remittance
Bank about any changes to its home and communication address, contact, scope of business,and legal representative, within ten days
thereafter. If Client fails to perform the foresaid liabilities, any notices or documents sent by Remittance Bank to original address
shall be deemed accepted by Client.

(f) hereby confirms to have carefully read,
have knowledge of and fully understand each and every terms herein, and entering the Contract reflects its true willingness.

 

11. Others

(a) Throughout the term, Remittance Bank's
extending grace period or delaying excising its lawful rights against Client's default subject to the Contract and Application
for Export Remittance shall not (i) injure, impact or restrict Remittance Bank's any rights and interests as a creditor pursuant
to the Contract and Application for Export Remittance, not (ii) be construed as Remittance Bank's approval for Client's default,
nor (iii) be deemed as Remittance Bank relinquishes any rights to claim against Client's current or possible default in future.

 

(b) If any provision of the contract or
whole contract is held to be invalid for whatever reasons, Client shall perform its paying liabilities. Under the foresaid circumstances,
Remittance Bank shall have the right to terminate specific transactions hereunder and request Client to pay the whole loans in
no time.

 

(c) Any notices or communications between
Remittance Bank and Client shall be proceeded in written form.

 

(d) The Contract shall continue to bind
parties hereto regarding export remittance transaction. Nevertheless, Client shall cooperate with Remittance Bank provided that
Remittance Bank believes necessary to renew the Contract.

 

12. The Contract shall be attached seals
by parties hereto and singed or attached seals by authorized representatives, prior to effectiveness.

 

    	 

    	 

    

 

13. The Contract is governed by laws of
People's Republic of China or international practicals where China's laws uncovered. Any disputes arising from execution shall
be solved or negotiated by parties hereto, or if failed, filing law suites to the court at the location of Contract signing where
Shenzhen Development Bank Dalian Branch is located.

 

14. Notarization of Enforcement

The Contract is free from notarizing statement
of enforcement.

 

15. Miscellaneous

None

 

16. The Contract is made in duplicates,
one for each, having equal law-binding force.

 

Client's Seal: /s/ Chuan-Tao Zheng

Signature by Representative or Agent

Date: Feb. 16th 2011

 

Remittance Bank's Seal: /s/ Tian Longyi

Signature by Representative or Agent

Date: Feb. 16th 2011Exhibit 10.34

Loan Agreement for Small Business Entity

(2009 edition)

Ref: 2011 Xin Jie06007300-173

 

Special tips:

The Agreement is entered on basis of good
faith and equality of parties hereto, reflecting their truthful willingness. For the purpose of safeguarding Client's legitimate
rights and interest, Factoring Bank reminds Client to give full care to each and every term and provision regarding rights and
obligations hereto, particularly content in bold letters.

 

Lender: Dalian Ganjingzi Branch of ICBC

Representative: Li Bingrong Contact: Gong
Chengjie

Address: 17 Ganjingzi Rd, Ganjingzi district,
Dalian; Postcode:

Tel.: 86796618 Fax: Email:

 

Borrower: Dalian Tongda Equipment Co.,Ltd

Legal representative: Wang Yukai contact
person:

Address: Youjia village, Xinzaizi Rd, Ganjingzi
District, Dalian Postcode:

Tel.: 66881719 Fax: Email:

 

After fair negotiation between borrower
and lender, both parties reached agreement of borrowing and loaning, and made this contract.

 

Part one: Borrowing Conditions

 

Section one: Use of loan

Use of the loan is purchasing raw materials,
without written permission from lender, borrower can not appropriate and lender has rights of supervising the use of loan.

 

Section two: Amount of the loan and time
limit

2.1 The currency of the loan is RMB, and
amount is 180000 RMB.

2.2 Time limit: half year. It is counted
down from the date that borrower obtain the money (if borrower take the loan by several times, the date is assumed the first time
of taking out the loan). And the actual withdraw date is based on the receipt.

 

Section three: interest rate, interest
and fees

3.1 approach of setting the interest rate:

(1) Fixed interest rate: annual rate is
8.528%, and in the term, this rate can not be changed.

3.3 The interest is charged from the actual
withdraw date, and the bear interest is based on months. When loan comes to the due day, borrower should pay the principle and
interest at the mean time and the day rate is equal annual rate/360.

3.4 This contract’s over due day
punishment is equal interest rate plus 30% of it; and appropriate punishment is equal interest rate plus 50% of it.

 

    	 

    	 

    

 

Section four: loan withdraw

Borrower should, according to real capital
needs, withdraw money. And the first withdraw date must be before November 10th 2011; or lender has right to cancel
part or the entire loan.

 

Section five: loan repayment

Borrower should do the loan repayment on
the due day and pay the entire amount, including principle and interests.

 

Section six: guaranty

This contract requires the loan is secured
loan, and the secured way is pledge.

 

Section eight: dispute resolution

Under this contract, dispute resolution
is bringing this dispute to the local court which is located in the same place with the lender.

 

Section nine: others

9.1 This contract has a duplicate copy.
And borrower and lender hold each copy and both copies have equal legal effect.

9.2 Attachments as follows and other attachments
which are common confirmation are indivisible parts of this contract and they have the equal legal effect with this contract.

Attachment one: Advice of drawing (standardized)

Attachment two: Commission payment protocol

 

Part two: loan term for small business
entities

 

Section one: interest and interest rate

1.1 Transaction of foreign currency loan,
LIBOR is the same with financial telecommunication terminal of REUTRES’ LIBO which supplies interbank offered rate of RMB.
And the date is the withdraw day or two banking operating days before adjustment day. HIBOR is the same with financial telecommunication
terminal of REUTRES’ HIBO which supplies interbank offered rate of Hong Kong dollars, and the date is the withdraw day or
two banking operating days before adjustment day.

1.2 under this contract, loan interest
is floating interest rate and when the loan is over due; interest rate is adjusted according to the original mode.

1.3 monthly loan repayment days are the
every 20th of every month; quarterly loan repayment days are the ending month’s 20th of every quarter;
half-year loan repayment days are 20th June and 20th December.

1.4 the first loan repayment period is
from the actual withdrawing day to the next repayment day; the last loan repayment period is from the day after the one before
last loan repayment day to the last repayment day; other repayment periods are just between the repayment days.

1.5 if encountering loan interest adjustment
by People’s Bank, lender will not notify borrowers and follows the adjustment measure.

 

    	 

    	 

    

 

Section two Loan disbursement and payment

2.1 borrowers must meet all the prerequisites
as follows, or lender has no obligations to lend money to borrowers, only except the agreed advance loans:

(1) Except fiduciary loan, borrowers have
already supplied pledge required by lender; relevant pledge procedures have been completed and no negative change happened to lender.

(2) When one withdraws happens, borrower
should ensure all the statements and guarantees under this contract are accurate, completed and no negative changes happened to
both this contract and other agreement between borrower and lender.

(3) The certified document of use of loan
should follow the agreements.

2.2 borrowers, using the loan to do fixed
asset investment, should meet both 2.1 requirements and other requirements as follows:

(1) Loan program has already been approved,
examined or filed by country authorities(if required);

(2) The capital
of loan program has already been employed, according to the timing and proportion.

(3) No cost
overrun happened or the overrun part has been solved by self-financing;

(4) Borrower
has already completed project’s progress, according to the plan, and the actual project progress has matched the loan amount.

2.3when borrower
want to withdraw money, it should notify lender five banking operating days prior by written documents. Once the written documents
have been handed to lender, borrower can not cancel the documents without lender’s written agreement.

2.4 when borrower
meet withdrawing prerequisites or lender approved advanced loan, and lender has transferred the money to the account appointed
by borrower; this is regards as lender has issued the loan to borrower.

2.5 According
to regulations and lender’s management requirements, this contract should employ lender-entrusted payment method to withdraw
and use the loan; lender, according to borrower’s loan application and entrusted payment, lender will lend the loan to the
subject who meets the requirements under this contract. Therefore, lender and borrower should sign the agreement of entrusted payment
and regard this agreement as one attachment of this contract and borrower should open or appoint another account to deal with entrusted
payment with lender.

 

Section three:
repayment

 

3.1 borrowers should, according to the contract, repay full
amount of the principle, interests and other account payable. On repayment day and the banking working day before every interest
repayment day, borrower should deposit adequate amount in the appointed account and lender has right to transfer the money on repayment
day the interest repayment day, or require borrower to do some transfer progress for lender. If the deposit is not enough for the
due account payable, lender has right to decide the Liquidation sequence.

 

    	 

    	 

    

 

3.2 when borrower applies to repay all or part of the loan in
before due day, borrower should send written application to lender to acquire lender’s permit in advance of 10 banking working
days, and according to contract’s agreed standard to pay the compensation.

 

3.3 If lender agrees to accept early repayment, borrower should
according to this contract, pay all agreed principle, interests and other payables on early repayment day and borrower should repay
the part of loan which is unpaid before early repayment day.

 

3.4 lenders has right to, according to borrower’s actual
cash flows, claim back loan in advance.

 

3.5 if early repayment happens or lender, according to contract’s
agreement claim back loan in advance, which will shorten loan period, there will be no adjustment of the interest rate and it will
still follow ordinary loan interest rate.

 

Section four guaranty

 

4.1 Except credit loan, borrower should take the obligation,
under this contract, to supply legal and effective loan guaranty. And guaranty contract should be signed additionally.

 

4.2 If the pledge encounters damage, depreciation, property
disputes, sealed up or seized, being processed without agreement, negative changes of financial situation happened to guarantor
or other negative changes happened to loan debtor; borrower should notify lender timely and supply other approved pledge instead.

 

4.3 when approved by lender, account receivables, which is regarded
as pledge for this contract, encounter any situation, as follows, during the loan period; lender has right to announce that the
loan is over and require borrower to repay part of all of the principle and interests immediately or ask borrower to supply other
approved, legal, effective, and abundant pledge.

 

(1) The account receivables’ bad debt ratio increases
in two sequence month;

 

(2) Unclaimed account receivables took up the due account receivables
more than 5%;

 

(3) If warrantor has trading or debt disputes with payable parties
or other third parties (including but not limiting disputes of quality, technology, services), there may be possibilities of delaying
repayment of account receivables.

 

Section five account management

 

5.1 under this contract, an approved account, which is used
to collect sales or planned repayment, should meet the actual operating cash flow requirement. For the sales which is not settled
by cash, borrower should ensure transfer money timely to approved account when borrower collect the being owed money.

 

    	 

    	 

    

 

5.2 lender has right to supervise approved account, and its
right includes but not limits the supervision and acknowledge of cash-ins and cash-outs. Borrower should cooperate with lender
and borrower should sign supervision agreement with lender when it is necessary.

 

Section six statements and guarantees

 

Borrower made statements and guarantees, as follows, to lender,
and ensure, during the contract period, all the statements and guarantees are effective:

 

6.1 According to the law, the borrower is qualified and has
abilities of signing and carrying out the contract and following the contract’s requirements.

 

6.2 it is authorized and approved to sign this contract and
it does not break corporation rules, shareholders’ contribution agreement, pool agreement, partnership agreement or any other
relevant laws and regulations. And there is no conflict with other contracts’ obligations.

 

6.3 other debt payable had been repaid on time and no malicious
default behavior regarding to repayment of principle and interest.

 

6.4 In the most recent year, there was no significant breaching-rule
behavior during operation, and current advanced management stuffs have no significant bad record.

 

6.5 All materials and documents supplied by borrowers are accurate,
true, completed and effective and there is no false record, no omit or misstatement.

 

6.6 There is no hidden lawsuit, arbitration or claiming for
compensation.

 

6.7 If borrower employs loan to do fixed asset investments,
it must be legal to do the relevant investment.

 

Section seven borrower’s commitment

 

7.1 Borrower should, according to the contract, withdraw money
and apply the loan; and the loan can not be used in the share market, future market or be used for any other forbidden or restricted
applications.

 

7.2 According to the contract’s agreement, borrower should
repay principle, interest and other account payables.

 

7.3 Borrower accepts and positively cooperates with lender in
the fields of account analysis, checking receipts, on-site investigation and other approaches, including application of the loan
do the inspection and supervision. Borrower will also summarize application of loan and send report to lender on a regular time
schedule.

 

    	 

    	 

    

 

7.4 Borrower accepts credit inspection from lender, and borrower
will, in accordance with lender’s requirements, supply true, accurate, completed financial materials and other materials
which can reflect borrower’s solvency abilities, including bank account, account number, balance of the account etc. Borrower
will positively help and cooperate with lender do the investigation, acknowledge and supervision regarding borrower’s operation
and financial situations.

 

7.5 Before repayment of the full amount of the principle, interests
and other account payables, it is not allowed to distribute dividends in any form.

 

7.6 Borrower should obtain written confirmation from lender
in advance when processing consolidation, separation, reduction of capital, changes of owners’ equity, joining in the company,
leaving the company, significant transferring of assets and debt rights, significant investment on others, materially increasing
debt financing and other behavior which can cause negative changes to lender’s interests and rights.

 

7.7 If any issues, as follows, happen, borrower should notify
lender timely:

 

(1) Changing name, official stamp, corporation rules, address,
legal representative or person-in-charge, postal address and so on;

 

(2) Going out of business, dismissing, conducting liquidation,
conducting rectification, revoking business license, being revoked or filed for bankruptcy;

 

(3) Involving or supposed to be involved significant economic
disputes, lawsuit, arbitration or assets are being sealed, detained or compulsory execution, or being published or fielded to be
inspected and to pay penalties by the judiciary, industrial and commercial bureau or taxation office.

 

(4) Shareholders, directors and current management stuffs or
capital contributors is or are suspected to involving significant case or economic dispute.

 

7.8 Borrower will timely, completely and accurately disclose
the relationship with related parties and related trading to lender.

 

7.9 Borrower will timely sign the notification, which is send
by lender or in any other ways, from lender.

 

7.10 Borrower can not dispose its own assets to decrease its
solvency abilities, and when borrower becomes third parties’ warrantor, borrower should avoid destroy lender’s rights
and interests.

 

7.11 Borrower should pay the fees which is caused by signing
this contract and carrying out this contract; and also pays the fees which is caused by realizing debt rights’ paid and unpaid,
including but not limiting lawsuit or arbitration, property preservation costs, counsel fee, execution fee, appraisal fee, auction
fee, advertisement fee etc.

 

7.12 Under this contract, lender, at least, has the same liquidation
sequence with other debt holders; it is more priority than shareholders, legal representative or person-in-charge, partners, main
capital contributor or debts from key management stuffs.

 

    	 

    	 

    

 

Section eight Lender’s commitment

 

8.1 In accordance with this contract, lender will lend money
to borrower.

 

8.2 Lender will keep, all relevant financial and operational
unpublished materials supplied by borrower, confidential; only except the part which should be disclosed, according to the regulations
and laws and required part by this contract.

 

Section nine: breaching

 

9.1 Any thing happened, as follows, will be regarded as breaching
the contract:

 

(1) Borrower does not repay the principle and interests as required
by the contract, or does not fulfill the obligations required by the contract, or breaching the contract’s statements, guarantee
or commitments;

 

(2) The pledge, under this contract, encounters negative changes
to lender and borrower does not offer another confirmed pledge.

 

(3) When any debt is due (including being announced early due)
and borrower does not repay the debt, or borrower does not implement its obligation or breach its obligation under other terms,
borrower has already or may negatively influence implement obligations under this contract.

 

(4) Borrower’s profit ability, solvency ability, operating
and managing ability and cash flow ratios and other financial ratios become below required standards, or become deteriorated, which
have already or may negatively influenced implementing obligations.

 

(5) Significantly negative changes, related to operation and
management, investment in others and so on, happened to borrower, which have already or may negatively influenced implementing
obligations.

 

(6) Borrower or shareholders, legal representative or person-in-charge,
partners, main capital contributor or key management stuffs involved or may involve significant economic disputes, lawsuit, arbitration,
or assets are sealed up, detained or compulsory executed, or is under inspection and being punished by the judiciary and administrative
organizations, or breaching related civil laws or disclosed its negative behavior by the press, which have already or may negatively
influenced implementing obligations.

 

(7) Borrower encounters equity restructuring or changes of controlling
relationship, partnership, joint venture relationship; partners, main capital contributors, key management stuffs change abnormally,
disappear or are investigated or limited its freedom by the judiciary, which have already or may negatively influenced implementing
obligations.

 

(8) Borrower takes use of fake contracts and non-exist trading
with related parties to obtain lender’s loan or credit, or by the way of related trading, subjectively avoid lender’s
rights and interests.

 

    	 

    	 

    

 

(9) Borrower has already or may involve closing-down, dismissing,
liquidation, rectification, revoking business license, being revoked or filed for bankruptcy;

 

(10) Borrower breached the laws or industry standards, which
will cause liability accident, related with food security, operation security, protecting of environment, which have already or
may negatively influenced implementing obligations.

 

(11) Borrower or shareholders, legal representative or person-in-charge,
partners, main capital contributor or key management stuffs involved Mafia-style organization activities, drugging, gambling, smuggling
and other illegal activities.

 

(12) Borrower delayed the payment of taxes, fees or wages.

 

(13) Any other situation that will cause negative change which
will damage lender’s rights and interests.

 

9.2 If borrower breaches agreement, lender has rights to adopt
one or more measures, as follows:

 

(1) Asking borrower correct improper activity during limit time.

 

(2) Stopping issuing loans or other financing amount which is
related with this contract and other contracts, partly or full-amount cancelling the money which is not withdrawn by borrower or
other financing amount.

 

(3) Immediately claiming unpaid part, when announcement of which
the unpaid loan and other financing loan, between lender and borrower, is due.

 

(4) Requiring borrower to pay the damage which is caused by
borrower’s breaches

 

(5) Other necessary measures which are deemed by laws, regulations
and agreements under this contract.

 

9.3 When the loan is due (including being announced to be due),
and borrower does not do the repayment as required by agreements, lender has rights to credit the punishment interest which will
start from the following day of due day. And the unpaid interests, which are caused by over due, will be charged, according to
compound interest rate.

 

9.4 If borrower does not employ the loan as required by agreement,
lender has rights to charge punishment interests, since the day of appropriating. And the punishment interests will be compounded.

 

9.5 If borrower breaches 9.3 and 9.4 in the mean time, the higher
punishment interests will be chosen and not the both.

 

9.6 If borrower does not repay principle, interests (including
punishment interests and compounded interests) or other account payable, lender has rights to take use of the press to collect
the money.

 

    	 

    	 

    

 

9.7 If the controlling and being controlled relationships between
borrower and related parties have been changed, or borrower’s related parties encounter the situations which is mentioned
in 9.1 without (1) and (2), which have already or may negatively influenced implementing obligations, lender has rights to adopt
any measures which is agreed under this contract.

 

Section ten deductions

 

10.1 Borrower does not, in accordance with this contract, repay
the due amount (including being announced due), lender has rights to employ money from any borrower’s account which is opened
under any ICBC’s branches, and no matter it is local currency account or foreign currency account. And this measure will
last till the outstanding balance comes to zero.

 

10.2 When the deduction’s currency is not the same with
this contract’s currency, the exchange rate is decided by the day which is on the deduction day. From the deduction day to
repayment day (lender, according to the national foreign exchange management policies, deducts money and exchanges it into the
contract’s currency to repay the owe money. And this process will take some time, and the actual repayment day is regarded
as the repayment day.), the fees and interests which are caused during this period, due to the changes of exchange rate, should
be taken by the borrower.

 

10.3 When the deduction amount is not enough to cover the owe
amount, lender has rights to decide the liquidation sequence.

 

Section eleven rights and obligations transferring

 

11.1 Lender has rights to transfer or partly transfer the rights,
under this contract, to a third party, and the transferring behavior does not need borrower’s permit. And without written
permit from lender, borrower can not transfer the rights and obligations, under this contract, to a third party.

 

11.2 Lender or ICBC can, according to operation and management
requirements, authorize or entrust other ICBC branches to fulfill the agreed rights and obligations, or transfer the debt rights
to another ICBC branch to do the following management, borrower must accept this issue and lender’s behaviors, mentioned
as above, are not necessary to obtain borrower’s permit. And the ICBC branch, which does following management, has the same
rights as before; and it has rights to make lawsuit, arbitration or compulsory execution, in the name of itself.

 

Section twelve: effectiveness, changes and relieving

 

12.1 This contract is effective since it is signed by both parties,
and it is terminated when borrower fulfills all the obligations.

 

12.2 For any change of this contract, it needs both party negotiation
and it should be in the form of written documents. And the changing agreement or terms should become one part of this contract,
and it has the same legal force with this contract. Excluding the changing part, other parts of this contract are still effective,
and before the changing part become effective, ordinary terms are still effective.

 

    	 

    	 

    

 

12.3 The changing and relieving of this contracts, do not affect
both parties’ rights which is about compensation. When this contract is relieved, it should not affect the enforcement of
dispute terms.

 

Section thirteen Law and dispute resolution

 

To conclude this contract, efficiencies of this contract, explanation,
fulfilling and dispute resolution are all follow the laws of PRC. Any dispute, which is caused by this contract or is related with
this contract, should be tried by both parties to negotiate; if both parties can not process negotiation or can not reach agreement,
the dispute will be resolved by the ways which are termed.

 

Section fourteen: completed contract

 

The completed contract is consisted of the first part of this
contract is “borrowing conditions” and the second part is “loan contract for small business entity”. And
the loan, under this contract, is restricted by both parts, mentioned above.

 

Section fifteen: notification

 

15.1 Under this contract, all notification should be in the
written form. Except additional agreement, both parties appointed the residential address, in the contract, as postal address.
Any changes of postal address or of other contacting method happens, any party should notify the other party in the written form.

 

15.2 Under this contract, any party refuses to sign and accept
documents or can not deliver the documents, notifying party can take the form of notarization or announcement and it is also regarded
as successfully delivery.

 

Section sixteen: others

 

16.1 If lender does not fulfill or partly not fulfill or delayed
fulfill its any obligation under this contract, this deed is not regarded as abandoning or changing its rights or other rights,
and it also does not affect its further step to employ its rights and other rights.

 

16.2 If any term of this contract is not effective or can not
be fulfilled, this issue can not affect other terms’ effectiveness and fulfillment and it is not affect the whole contract’s
effectiveness either.

 

16.3 Lender has rights, according to relevant laws and regulations
or financial custodian institutions’ requirements, to disclose relevant information and borrower’s other information
to the people's Bank of China credit information system and other legal credit information data base, and the information is only
for the qualified persons and institutions inquiring or employing. Lender also has rights, with the purpose of concluding and fulfilling
this contract, to obtain borrower’s relevant information via the people's Bank of China credit information system and other
legal credit information data base.

 

    	 

    	 

    

 

16.4 The terms, in this contract, such as, related parties,
related party relationship, related party transaction, main investment person, key management stuff etc. have the same meaning
with the terms appeared in “accounting standards 36th –disclosure of related parties” and thereafter revising
edition, which is issued by the Ministry of finance.

 

16.5 The receipts which is made and maintained by lender, according
to its transaction rules, can be regarded as effective evidence to prove the relationships between lender and borrower, and they
have restricting power to borrower.

 

16.6 Under this contract, (1) any referred this contract includes
this contract’s revise and complementary part ;( 2) term titles are only for reference, they are not the explanation of this
contract, and they can not limit the following content; (3) when fulfilling this contract, if one withdraw day or one repayment
day is not banking operating day, then they should be regarded as the following banking operating day.

 

Confirmation by both parties: all the terms in this contract
have been fully discussed and negotiated by lending party and borrowing party. Lender has already specially notified borrower all
the terms which are related to both parties’ rights and obligations, and borrower has obtained comprehensive and accurate
understanding of the terms and at borrower’s request, lender has explained relevant terms. Borrower has already carefully
read and understood all contract terms (including first part “borrowing conditions” and the second part “loan
for small business entity”), the understanding of contract terms of borrowing party is conformity with lending party, and
there is no disagreement with the contact content.

 

Lender (seal):

 

Representative/ authorized agent: /s/ Gong Chengjie

 

Borrower (seal):

 

Legal representative/ authorize agent: /s/ Yu-Kai Wang

 

Date: 16th November, 2011

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