Exhibit 10(h)ii
Final Agreement
This agreement is entered into this 5th of September 2002 by and among Huayang
International Holdings, Inc. (Buyer), a public held corporation organized in the
State of Nevada, and Xx. Xxxxx Hongwei (Seller), a citizen and resident of
China.
According to the 7/5/02 Acquisition Agreement between Huayang, Xx. Xxxxx and
Jaihe, Huayang will acquire all the Jaihe's stocks from Xx. Xxxxx. After signing
this Final Agreement, the acquisition will be completed. Huayang and Xx. Xxxxx
agreed as follows:
A. Huayang will acquire Jaihe by giving Huayang's 1,900,000 shares of stocks
B. Huayang will own 99% of Jaihe. The remaining 1% will belong to Haitong
C. Huayang will acquire Jaihe's assets including land use right, Jaihe
warehouse and approved GMP certificate. Although the value of the land
use right, Jaihe's warehouse and GMP certificate haven't been recorded
and included in the Jaihe's financial statements, they already belong to
Jaihe. Xx. Xxxxx is responsible to complete all the legal procedures of
transferring the name of the listed properties to Jaihe before 12/31/01
or required timeline by Huayang.
D. If Xx. Xxxxx can not complete the above legal procedures, Xx. Xxxxx
agreed that Huayang can make necessary change of shares of stocks given
to Xx. Xxxxx in exchange of Jaihe or withdraw from this acquisition
agreement.
E. After Xx. Xxxxx completes transferring and recording the value land use
right, Jaihe warehouse and GMP certificate to Jaihe, it will adjust
directly to Jaihe's assets and reserve fund. It should not create any
liabilities between Huayang or Jaihe and Xx. Xxxxx.
Buyer: Huayang International Holdings, Inc.
Seller: Xx. Xxxxx Hongwei
