Loan Agreement (Translation)
Exhibit 10.24
(Translation)
Party A：Qufu Natural Green Engineering Co., Ltd.
Party B：Shandong Shengwang Pharmaceutical Co., Ltd.
WHEREAS, Party B applied for a loan from Party A and both parties negotiated the terms in good faith;
NOW, therefore, both parties have agreed to enter this loan agreement under the terms and conditions as follows:
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1.
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Party A will loan RMB 20,000,000 (twenty million) to Party B as working capital.
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2.
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Term: from November 21, 2011 to November 20, 2012. The principal is due in full amount on expiration date.
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3.
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Party B shall pay back the loan on time.
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4.
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On expiration date, Party B shall fully pay back the loan in one payment. If further cash or loan is needed, both parties shall sign a new loan agreement, and Party A decides at its own discretion a potential increase or decrease of the credit line available to Party B.
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Party A: Qufu Natural Green Engineering Co., Ltd.
Signature: /s/ Chengxiang Yan
(corporate seal)
Party B: Shandong Shengwang Pharmaceutical Co., Ltd.
Signature: /s/ Xxxxxxx Xxxxx
(corporate seal)
Date: November 18, 2011
