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Other Long-term Loans

6 Months Ended

Mar. 31, 2013

9. Other Long-term Loans

As of September 30, 2012 and March 31, 2013, the Company had interest-free and unsecured advances of $2,495,855 and $2,527,256 respectively from Tianjin Aifuyi Auto Parts. Co., Ltd, an unrelated party to the Company. This loan is repayable by September 30, 2014.

As of September 30, 2012 and March 31, 2013, the Company had advances of $5,090,921 and $13,402,926 from Tianjin Zhantuo International Trading Co., Ltd, an unrelated party of the Company. The loans are non interest bearing and amounted to $5,154,972 and $8,247,954 repayable by September 30, 2014 and December 31, 2014 respectively. These loans were secured by the Company’s land use rights with a carrying amount of $9,577,458 and $9,566,555 as of March 31, 2013 and September 30, 2012 respectively (Note 7).

The aggregate maturities of other long-term loans as of March 31, 2013 are as follows:

Payable within fiscal year ending September 30,
-2013	$	-
-2014		7,682,228
- 2015 and thereafter		8,247,954
	$	15,930,182