Agreement
This Agreement are hereby entered to by the following parties:
| · | Xxx Xxx Investments Limited (Party A) |
| · | Greater China International Investment Limited (Party B) |
Whereas:
Party A previously made a loan to Party B in the amount of $2,385,425.24 in HKD. Now through consultations on an equal footing, both parties have reached the following agreements with regard to the loan:
| I. | Party A agrees that Party B does not need to repay the above-mentioned loan of $2,385,425.24 in HKD, and Party A completely abandons its right of recourse to demand the loan repayment. |
| II. | Both parties agree that the loan amount shall be converted into the capital reserve. |
| III. | This Agreement will be effective upon signing by the directors of both parties. |
| IV. | This Agreement is executed on September 25, 2012. |
| Signed by a director of each party: | ||
| Xxx Xxx Investments Limited (Party A, Company Seal) | ||
| By: | /s/ Xxxxxxxx Xxx | |
| Hou, Xingping | ||
| Greater China International Investment Limited (Party B, Company Seal) | ||
| By: | /s/ Xxxxxx Xxxxx | |
| Zhang, Xxxxxx Xxxxx | ||
