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Other Long-term Loans

9 Months Ended

Jun. 30, 2013

12. Other Long-term Loans

As of September 30, 2012 and June 30, 2013, the Company had interest-free and unsecured advances of $2,495,855 and $2,556,248 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 June 30, 2013, the Company had advances of $5,090,921 and $4,399,400 from Tianjin Zhantuo International Trading Co., Ltd, an unrelated party of the Company. The loan is non interest bearing and amounted to $4,399,400 repayable by September 30, 2014, respectively. These loans were secured by the Company’s land use rights with a carrying amount of $9,566,555 and $9,946,322 as of September 30, 2012 and June 30, 2013 respectively (Note 7).

The aggregate maturities of other long-term loans as of June 30, 2013 are as follows:

Payable within fiscal year ending September 30,
-2013	$	-
-2014		6,955,648
- 2015 and thereafter		-
	$	6,955,648