Guaranty Contract of Maximum Amount Pledge No. Shenfa Longgang E'zhi Zi 20050427001-2
Party A: Longgang Branch, Shenzhen Development Bank (Creditor) Address: A1, Xinyazhou Park, Central
Town, Longgang District, Shenzhen Telephone: 28952003 Fax: 28952004 Person in charge: Yu Bo Position:
President of Longgang Branch
Party B: Shenzhen BAK Battery Co., Ltd. (Pledger) Address: BAK Industrial Zone, Kuichong, Longgang
District, Shenzhen Telephone: 89770025 Fax: 89770026 Legal Representative: Li Xiangqian Position: Chairman
of the Board
In order to secure the indebtedness of Shenzhen BAK Battery Co., Ltd. (hereinafter referred to as Obligor)
under the Comprehensive Credit Facilities Agreement (reference no. Shenfa Longgang Zongzi 20050407001,
hereinafter referred to as Master Agreement) entered into by Creditor and Obligor on 7 April 2005, the Pledger
agrees to provide its assets to the Creditor as the pledge. Through friendly negotiation, both parties agree to enter
into this Contract:
I. Scope of Guaranty
The scope of guaranty covers all loan principal, interest, penalty interest and all the expenses incurred to the
Creditor in realizing its creditor's right. The maximum loan principal shall not exceed RMB 150 Million yuan.
II. Pledged Collaterals The detail information of the pledged collaterals is described in the Statement of Pledged
Collaterals attached to this Contract.
After the Pledger has pledged the abovementioned collaterals, the Pledger shall not transfer such pledged
collaterals or allow any third paty to use such pledged collaterals without the approval of the Creditor. In case
that the Creditor and Pledger agree to transfer the pledged collaterals, the payment received by the Pledger from
such transaction shall be used to settle the indebtedness owed to the Creditor in advance to expiry or be
deposited in a third party designated by both parties.
III. The Creditor is entitled to dispose of the pledged collaterals by means of settlement of the in