EarlyBirdCapital, Inc. 600 Third Avenue 33rd Floor New York, New York 10016 February 23, 2004 Chardan China Acquisition Corp. 777 South Highway 101 Suite 215 Solana Beach, CA 92075 Dr. Richard D. Propper Jiangnan Huang Kerry Propper Li Zhang Dan...

                             EarlyBirdCapital, Inc.
                                000 Xxxxx Xxxxxx
                                   00xx Xxxxx
                            Xxx Xxxx, Xxx Xxxx 00000



                                                            February 23, 2004



Chardan China Acquisition Corp.
000 Xxxxx Xxxxxxx 000
Xxxxx 000
Xxxxxx Xxxxx, XX 00000

Xx. Xxxxxxx X. Xxxxxxx
Jiangnan Xxxxx
Xxxxx Propper
Xx Xxxxx
Xxx Xxxxxxx
Xxxxxx Xxxxxx
Xxxxxxx X. Xxxxxx Xx.
Xxxxxxx Xxxxxx


Gentlemen:

     Reference is made to each of your respective letter agreements with
EarlyBirdCapital, Inc. and Chardan China Acquisition Corp., dated January 5,
2004. The undersigned hereby waives its rights under Section 7 or Section 8 (as
the case may be) of each of your letter agreements relating to your restrictions
on being involved with future "Acquisition Funds." Except as indicated above,
each of the letter agreements shall remain in full force and effect.




                                                  EARLYBIRDCAPITAL, INC.



                                              By: /s/ Xxxxx X. Xxxxxxxx
                                                  ---------------------
                                                  Name:  Xxxxx X. Xxxxxxxx
                                                  Title: Chairman