Contract

10.3 Maximum Property Guarantee Contract, dated July 13, 2009, by and among
Shandong Xiangrui, and Shandong Xinrui Chemical Devices Co., Ltd., and Citibank
Shanghai, for XXX 00 million

• Main Contents

• Contract No.: MR748004090713

• Execution Date: July 13, 2009

• Guarantor: Shandong Xiangrui Pharmacy Co., Ltd., and Shandong Xinrui Chemical Devices Co., Ltd.

• Guarantee: Citibank Shanghai

• As guarantor, Shandong Xiangrui Pharmacy Co., Ltd. and Shandong Xinrui Chemical Devices Co., Ltd. undertake to assume joint and several liabilities for Runyin Bio-chemical Co., Ltd’s indebtedness towards Citibank Shanghai under a Uncommitted Short Term Cycling Finance Agreement with Contract No.: FA748004090713.

• Guarantee Items: Shandong Xiangrui Pharmacy Co., Ltd. agreed to created mortgage over land use right (Certificate No.: Dong Xxx Xxxx 2008 No. 31; area: 43,249 m²) and the properties (Certificate No.: Dong Xxx Xxxx 2008 No. 10288; area: 12,713 m²) to secure the payment of the debts under the main loan agreement. Shandong Xinrui Chemical Devices Co., Ltd. agreed to created mortgage over land use right (Certificate No.: Dong Xxx Xxxx 2008 No. 513; area: 39,575 m²) and the properties (Certificate No.: Dong Xxx Xxxx 2008 No. 10289; area: 5,897.42 m²) to secure the payment of the debts under the main loan agreement.

• The maximum amount of the guarantee is RMB 57,686,231.

• The mortgage term is from August 10, 2009 to August 10, 2014.

• Secured Items: the loan principal, interest, penalty interest, damages, compensation and all the expenses incurred for Citibank (China) Co., Ltd., Shanghai Branch to realize its creditor’s right under Loan Agreement.

• Liabilities of Breach of Contract: Guarantor shall compensate guarantee any loss suffered from Shandong Runyin Bio-chemical Co., Ltd.’s breach of contract.

• Headlines of the articles omitted

• Commitment of guarantor

• Assumption of guarantor’s responsibility

• Dispute settlement

• Miscellaneous

• Effectiveness

• Validity

• Attention