EXHIBIT 10.7
PRODUCT PURCHASE AND SALES AGREEMENT
Party A (hereinafter referred to as the "Biological"): Tianjin Tianshi
Biological Development Co., Ltd.
Party B (hereinafter referred to as the "Engineering"): Tianjin Tianshi
Biological Engineering Co., Ltd.
Biological and Engineering sign this agreement on a basis of equality and mutual
benefit.
1. Biological agrees that Engineering sells Biological's products, and
promises to supply required products to Engineering timely.
2. Engineering provides its coming year's order plan to Biological by each
December 25. Engineering is in charge of selling all of Biological's
products domestically. Biological sells its products to Engineering at a
price which is 25% of its domestic market's retail price.
3. Biological promises that all the products sold shall be in accordance with
the quality requirement of Engineering, and is responsible for any losses
of Engineering resulted from quality problems.
4. Engineering shall make payment for goods to Biological monthly. Any delay
of payment for goods is prohibited.
5. Both parties shall observe this agreement, and cooperate with each other if
any dispute arises.
Party A: Party B:
Tianjin Tianshi Biological Development Tianjin Tianshi Biological Engineering
Co., Ltd. Co., Ltd.
[COMPANY SEAL AFFIXED] [COMPANY SEAL AFFIXED]
June 25, 2003 June 25, 2003
