Guaranty Contract of Maximum Amount Entered Between Shenzhen Tongli Hitech Co. ("Shenzhen Tongli")and
Agricultural Bank on July 29th, 2005.
>> Contract number: (Shenzhen Longgang) Nongyin Gaobaozi 81901200500000210; >> As guarantor,
Shenzhen Tongli undertakes to assume joint and several liabilities for the Company's indebtedness towards
Agricultural Bank under Loan Agreement from July 29th, 2005 to January 29th, 2006 and maximum amount
secured is RMB50 million.
>> Secured items include the loan principal, interest, penalty interest, breach of contract compensation and all the
expenses incurred for Agricultural Bank to realize its creditor's right under Loan Agreement; >> Guaranty period:
|X| Two years from the expiry date that the Company should fulfill its obligations in accordance with Loan
Agreement; |X| For discounted commercial drafts, the term is two years from the expiry date of the discounted
commercial drafts; |X| If term of Loan Agreement is extended, guaranty period shall be two years from the expiry
date for the Company to fulfill its obligations according to the extended agreement; |X| 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.
Terms that have been omitted: commitment of the guarantor; dispute settlement; miscellaneous; effectiveness;
validity; and attention.