<SEC-DOCUMENT>0001062993-16-008334.txt : 20160314
<SEC-HEADER>0001062993-16-008334.hdr.sgml : 20160314
<ACCEPTANCE-DATETIME>20160314170034
ACCESSION NUMBER:		0001062993-16-008334
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20160314
DATE AS OF CHANGE:		20160314

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA BAK BATTERY INC
		CENTRAL INDEX KEY:			0001117171
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				880442833
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-79906
		FILM NUMBER:		161504553

	BUSINESS ADDRESS:	
		STREET 1:		BAK INDUSTRIAL PARK, MEIGUI STREET
		STREET 2:		HUAYUANKOU ECONOMIC ZONE
		CITY:			DALIAN
		STATE:			F4
		ZIP:			116422
		BUSINESS PHONE:		(86)(411)6251-0619

	MAIL ADDRESS:	
		STREET 1:		BAK INDUSTRIAL PARK, MEIGUI STREET
		STREET 2:		HUAYUANKOU ECONOMIC ZONE
		CITY:			DALIAN
		STATE:			F4
		ZIP:			116422

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEDINA COFFEE INC
		DATE OF NAME CHANGE:	20000626

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Li Xiangqian
		CENTRAL INDEX KEY:			0001315122

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	MAIL ADDRESS:	
		STREET 1:		BAK INDUSTRIAL PAR, NO. 1 BAK STREET
		STREET 2:		KUICHONG TOWN, LONGGANG DISTRICT
		CITY:			SHENZHEN
		STATE:			F4
		ZIP:			518119
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>schedule13da.htm
<DESCRIPTION>SCHEDULE 13D/A
<TEXT>
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   <TITLE>China BAK Battery, Inc.: Schedule 13D/A - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES </FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT><BR>WASHINGTON, D.C. 20549
<BR>________________<BR></B></P>
<P align=center><B><FONT size=5>SCHEDULE 13D/A <BR></FONT></B>(Amendment No. 3)*
</P>
<P align=center><B><U><FONT size=5>CHINA BAK BATTERY,
INC.</FONT></U><BR></B>(Name of Issuer) </P>
<P align=center><B><U>COMMON STOCK, PAR VALUE $0.001 PER SHARE
</U><BR></B>(Title of Class of Securities) </P>
<P align=center><U>16936Y 209</U><BR>&nbsp;(CUSIP Number) </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD align=center><B>Xiangqian Li </B></TD></TR>
  <TR vAlign=top>
    <TD align=center><B>Room 21D, Yi Jing Pavilion, Golf Seascape Garden, Fu
      Tian District, </B></TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B>Shenzhen, Guangdong Province, China </B></TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B>86-755-86968869 </B></TD></TR>
  <TR>
    <TD>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD align=center><I>Copies to </I></TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B>Thomas Shoesmith </B></TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B>Pillsbury Winthrop Shaw Pittman LLP </B></TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B>2550 Hanover Street </B></TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B>Palo Alto, CA 94304-1115 </B></TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B><U>(650) 233-4500 </U></B></TD></TR>
  <TR vAlign=bottom>
    <TD align=center>(Name, Address and Telephone Number of Person </TD></TR>
  <TR vAlign=bottom>
    <TD align=center>Authorized to Receive Notices and Communications) </TD></TR>
  <TR>
    <TD>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B><U>March 4, 2016 </U></B></TD></TR>
  <TR vAlign=top>
    <TD align=center>(Date of Event which Requires Filing Statement on
      Schedule 13D) </TD></TR></TABLE>
<P align=justify>If the filing person has previously filed a statement on
Schedule 13G to report the acquisition that is the subject of this Schedule 13D,
and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g),
check the following box [&nbsp; ]. </P>
<P align=justify><B>Note</B>: Schedules filed in paper format shall include a
signed original and five copies of the schedule, including all exhibits. See
Rule 13d-7 for other parties to whom copies are to be sent. </P>
<P align=justify>* The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page. </P>
<P align=justify>The information required on the remainder of this cover page
shall not be deemed to be &#147;filed&#148; for the purpose of section 18 of the
Securities Exchange Act of 1934 (&#147;Act&#148;) or otherwise subject to the liabilities
of that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes). </P>
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<P align=justify><B>CUSIP NO: 16936Y 209 </B></P>
<DIV>
<TABLE
style="FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse"
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left >1. <BR><BR></TD>
    <TD align=left width="93%" colSpan=3>NAMES OF REPORTING PERSONS <BR>IRS
      IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) <BR>&nbsp;
      <BR>Xiangqian Li </TD></TR>
  <TR vAlign=top>
    <TD align=left >2. <BR></TD>
    <TD align=left width="93%" colSpan=3>CHECK THE APPROPRIATE BOX IF A MEMBER
      OF A GROUP <BR>&nbsp;&nbsp;&nbsp;&nbsp; (a) [_]
      <BR>&nbsp;&nbsp;&nbsp;&nbsp; (b) <U>[ </U>] <BR>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >3. <BR></TD>
    <TD align=left width="93%" colSpan=3>SEC USE ONLY <BR>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >4. <BR></TD>
    <TD align=left width="93%" colSpan=3>SOURCE OF FUNDS <BR>&nbsp; <BR>OO
  </TD></TR>
  <TR vAlign=top>
    <TD align=left >5. <BR></TD>
    <TD align=left width="93%" colSpan=3>CHECK BOX IF DISCLOSURE OF LEGAL
      PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(e) or 2(f) <BR>[__] <BR>&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD align=left >6. <BR></TD>
    <TD align=left width="93%" colSpan=3>CITIZENSHIP OR PLACE OF ORGANIZATION
      <BR>&nbsp; <BR>People&#146;s Republic of China </TD></TR>
  <TR vAlign=top>
    <TD align=center colSpan=2 rowSpan=4 >NUMBER OF <BR>SHARES
      <BR>BENEFICIALLY <BR>OWNED BY <BR>EACH <BR>REPORTING <BR>PERSON WITH </TD>
    <TD align=center width="4%" >7. <BR></TD>
    <TD align=left width="80%">SOLE VOTING POWER 760,557 shares of common
      stock <BR>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center width="4%" >8. <BR></TD>
    <TD align=left width="80%">SHARED VOTING POWER 0 <BR>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center width="4%" >9. <BR></TD>
    <TD align=left width="80%">SOLE DISPOSITIVE POWER 760,557 shares of common
      stock <BR>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center width="4%" >10. </TD>
    <TD align=left width="80%">SHARED DISPOSITIVE POWER 0 <BR>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >11. <BR></TD>
    <TD align=left width="93%" colSpan=3>AGGREGATE AMOUNT BENEFICIALLY OWNED
      BY EACH REPORTING PERSON <BR>&nbsp; <BR>760,557 shares of common stock
  </TD></TR>
  <TR vAlign=top>
    <TD align=left >12. <BR></TD>
    <TD align=left width="93%" colSpan=3>CHECK BOX IF THE AGGREGATE AMOUNT IN
      ROW (11) EXCLUDES CERTAIN SHARES <BR>&nbsp; <BR>[&nbsp; ] </TD></TR>
  <TR vAlign=top>
    <TD align=left >13. <BR></TD>
    <TD align=left width="93%" colSpan=3>PERCENT OF CLASS REPRESENTED BY
      AMOUNT IN ROW (11) <BR>&nbsp; <BR>4.43%<SUP>(1)</SUP> </TD></TR>
  <TR vAlign=top>
    <TD align=left >14. <BR></TD>
    <TD align=left width="93%" colSpan=3>TYPE OF REPORTING PERSON <BR>&nbsp;
      <BR>IN </TD></TR></TABLE></DIV>
<P align=justify>(1) Based on 17,145,493 shares of common stock outstanding as
of February 12, 2016, as reported in the Company&#146;s Quarterly Report on Form 10-Q
filed with the SEC on February 16, 2016 </P>
<P align=center>2</P>
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<P align=justify>This Amendment No. 3 to Schedule 13D ("Amendment No. 3")
relates to the common stock, par value $0.001 per share (the "Common Stock"), of
China BAK Battery, Inc., a Nevada corporation (the "Company").</P>
<P align=justify>This Amendment No. 3 is being filed by Xiangqian Li (the
"Reporting Person") to amend and supplement the Reporting Person&#146;s Schedule 13D
previously filed with the Securities and Exchange Commission (the "SEC") on
January 25, 2005, as amended on January 15, 2009 and June 25, 2015 (as amended
and supplemented to date, the "Schedule 13D"). Except as provided herein, this
Amendment No. 3 does not modify any of the information previously reported on
the Schedule 13D. Capitalized terms used but not defined herein have the
meanings assigned to them in the Schedule 13D.</P>
<P align=justify><B>Item 2. Identity and Background.</B> </P>
<P align=justify>Item 2 of Schedule 13D is hereby amended and restated in its
entirety as follows:</P>
<P align=justify>(a) The person filing this statement is Xiangqian Li (&#147;Li&#148; or
the &#147;Reporting Person&#148;). </P>
<P align=justify>(b)-(c) The residence of Li is Room 21D, Yi Jing Pavilion, Golf
Seascape Garden, Fu Tian District, Shenzhen, Guangdong Province, China. The
Reporting Person is an individual investor.</P>
<P align=justify>(d)-(e) During the last five years, the Reporting Person has
not been (i) convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.</P>
<P align=justify>(f) The Reporting Person is a citizen of the People&#146;s Republic
of China. </P>
<P align=justify><B>Item 3. Source and Amount of Funds or Other Consideration.
</B></P>
<P align=justify>Item 3 of Schedule 13D is hereby amended and supplemented by
adding the following at the end thereof:</P>
<P align=justify>On March 4, 2016, the Reporting Person entered into a stock
purchase agreement with Yunfei Li, pursuant to which the Reporting Person sold
3,000,000 shares of Common Stock in a private transaction to Yunfei Li for $7.2
million at a price of $2.40 per share.</P>
<P align=justify><B>Item 5. Interest in Securities of the Issuer. </B></P>
<P align=justify>Item 5 of Schedule 13D is hereby amended and restated as
follows: </P>
<P align=justify>(a) &#150; (b) As of the date of this Amendment No. 3, the Reporting
Person beneficially owns 760,557 shares of the Common Stock, representing 4.43%
of the outstanding shares of the Company (based on 17,145,493 shares of Common
Stock outstanding as of February 12, 2016, as reported in the Company&#146;s
Quarterly Report on Form 10-Q filed with the SEC on February 16, 2016). For
purposes of Rule 13d-3 promulgated under the Exchange Act, the Reporting Person
has sole voting and dispositive power over 760,557 shares of Common Stock.</P>
<P align=justify>(c) Other than the transactions described in Item 3 above, the
Reporting Person has not been involved in any transactions involving Common
Stock of the Company in the last 60 days.</P>
<P align=justify>(d) None.</P>
<P align=justify>(e) As a result of the transaction described in Item 3 above,
on March 4, 2016, the Reporting Person ceased to be the beneficial ownership of
more than five present of Common Stock of the Company.</P>
<P align=center>3</P>
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<P align=justify><B>Item 6. Contracts, Arrangements, Understandings or
Relationships With Respect to Securities of the Issuer.</B> </P>
<P align=justify>Item 3 of Schedule 13D is hereby amended and supplemented by
adding the following at the beginning thereof: </P>
<P align=justify>The contents of Items 3 above are incorporated herein by
reference. </P>
<P align=justify><B>Item 7. Material to be Filed as Exhibits. </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B><U>Exhibit No.</U></B> </TD>
    <TD align=left width="90%"><B><U>Description</U></B> </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >99.1 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>
      <P align=justify>Securities Exchange Agreement, dated as of January 20,
      2005, by and among Medina Coffee, Inc., BAK International Limited, and the
      Shareholders of BAK International Limited (incorporated by reference to
      Exhibit 10.1 to the Issuer&#146;s Current Report on Form 8-K filed on January
      21, 2005 with the Securities and Exchange Commission in File No.
      000-49712). </P></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >
      <P align=justify>&nbsp;</P></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >99.2 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>
      <P align=justify>Escrow Agreement by and among Medina Coffee, Inc.,
      certain investors indicated therein, Xiangqian Li, and Securities Transfer
      Corporation, dated as of January 20, 2005 (incorporated by reference to
      Exhibit 10.2 to the Issuer&#146;s Current Report on Form 8-K filed on January
      21, 2005 with the Securities and Exchange Commission in File No. 000-
      49712). </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >99.3 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>
      <P align=justify>Lock-Up Agreement by and between Medina Coffee, Inc. and
      Xiangqian Li dated as of January 20, 2005 (incorporated by reference to
      Exhibit 10.3 to the Issuer&#146;s Current Report on Form 8-K filed on January
      21, 2005 with the Securities and Exchange Commission in File No.
      000-49712). </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>99.4 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>
      <P align=justify>China BAK Battery, Inc. Stock Option Plan (incorporated
      by reference to Exhibit 10. 1 to the Issuer&#146;s Quarterly Report on Form
      10-Q filed on August 22, 2006). </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >99.5 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>
      <P align=justify>Amendment No. 1 to the China BAK Battery, Inc. Stock
      Option Plan (incorporated by reference to Exhibit 4.1 to the Issuer&#146;s
      Quarterly Report on Form 10-Q filed on August 8, 2008). </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >99.6 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>
      <P align=justify>Option Agreement by and between China BAK Battery, Inc.
      and Xiangqian Li, dated May 29, 2008 (incorporated by reference to Exhibit
      6 to the Reporting Person&#146;s Amendment No. 1 to Schedule 13D filed on
      January 15, 2009). </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >99.7 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>
      <P align=justify>Delivery of Make-Good Shares, Settlement and Release
      Agreement, effective October 22, 2007, by and among Xiangqian Li, BAK
      International Limited, and China BAK Battery, Inc. (incorporated by
      reference to Exhibit 10.2 to the Issuer&#146;s Current Report on Form 8-K filed
      on November 6, 2007). </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee ><a href="exhibit99-8.htm">99.8 </a></TD>
    <TD align=left width="90%" bgColor=#eeeeee>
      <P align=justify><a href="exhibit99-8.htm">Stock Purchase Agreement by and between Xiangqian Li and
  Yunfei Li, dated March 4, 2016. </a></P></TD></TR></TABLE>
<P align=center>4</P>
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<P align=center><B>SIGNATURES </B></P>
<P align=justify>After reasonable inquiry and to the best of his and its
knowledge and belief, the undersigned certify that the information set forth in
this statement is true, complete and correct. </P>
<P align=justify>Dated: March 14, 2016 </P>
<P align=justify><U>/s/ Xiangqian Li</U> <BR>Xiangqian Li </P>
<P align=center>5</P>
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<DOCUMENT>
<TYPE>EX-99.8
<SEQUENCE>2
<FILENAME>exhibit99-8.htm
<DESCRIPTION>EXHIBIT 99.8
<TEXT>
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   <TITLE>China BAK Battery, Inc.: Exhibit 99.8 - Filed by newsfilecorp.com</TITLE>
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<P align=right><B>Exhibit 99.8 </B></P>
<P align=center><B>STOCK PURCHASE AGREEMENT </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; THIS STOCK PURCHASE AGREEMENT, dated
as of March 4, 2016 (this &#147;<B>Agreement</B>&#148;), between Mr. Xiangqian Li (the
&#147;<B>Seller</B>&#148;) and Mr. Yunfei Li (the &#147;<B>Purchaser</B>&#148;). </P>
<P align=center><B>BACKGROUND </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Seller is the owner of
<U>3,760,557 </U>shares of common stock, $0.001 par value per share (&#147;<B>Common
Stock</B>&#148;) of China BAK Battery, Inc., a Nevada corporation (the
&#147;<B>Company</B>&#148;). The Purchaser desires to purchase <U>3,000,000</U> shares of
Common Stock of the Company (the &#147;<B>Shares</B>&#148;) from the Seller, and the
Seller desires to sell the Shares to the Purchaser, on the terms and conditions
set forth below. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; NOW, THEREFORE, in consideration of
the premises and of the mutual promises set forth herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Purchaser and the Seller hereby agree as follows: </P>
<P align=center><B>AGREEMENT </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 1. <U>Sale of Shares: Purchase
Price</U>. Subject to the terms and conditions set forth herein, the Purchaser
hereby agrees to purchase the Shares from the Seller, and the Seller agrees to
sell the Shares for a purchase price per share of $2.4, or an aggregate sale
price of $7,200,000 (&#147;<B>Purchase Price</B>&#148;). </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 2. <U>Closing</U>. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) The
closing (the &#147;<B>Closing</B>&#148;) shall take place on the date of the execution of
this Agreement at such time or place as the parties hereto may agree upon.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) At
the Closing, the Purchaser shall pay to the Seller the Purchase Price in
immediately available funds via wire transfer to the account designated by the
Seller. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c)
Within five (5) business days following the Closing, the Seller shall deliver to
the Purchaser a certificate or certificates representing the Shares with all
necessary stock transfer stamps, if any are required, affixed thereto,
accompanied by an executed stock transfer power duly endorsed in blank with
signature guaranteed (or such other signed instrument of transfer acceptable to
the Company&#146;s Transfer Agent) and such other documents as may be necessary to
effect the transfer of the Shares to the Purchaser free and clear of all liens,
claims, charges, security interests, and encumbrances of any kind
whatsoever.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 3. <U>Representations and Warranties
of Seller</U>. The Seller represents and warrants to the Purchaser that: </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) The
Seller owns the Shares of record and the Shares are free and clear of all liens, claims, charges, security interests, and
encumbrances of any kind whatsoever. The Seller has sole control over such
Shares or sole discretionary authority over any account in which they are held.
Except for this Agreement, there are no outstanding warrants, options or rights
of any kind to acquire from the Seller any of the Shares. Delivery of the Shares
by the Seller to the Purchaser in accordance with this Agreement will vest title
to all of the Shares in the Purchaser, free and clear of all liens, pledges,
encumbrances, claims and equities of every kind.</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) The
Seller has full right, power and authority to execute, deliver and perform this
Agreement and to carry out the transactions contemplated hereby. This Agreement
has been duly and validly executed and delivered by the Seller and constitutes a
valid, binding obligation of the Seller, enforceable against the Seller in
accordance with its terms (except as such enforceability may be limited by
applicable bankruptcy and similar laws affecting the enforcement of creditors&#146;
rights generally and to general equitable principles).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) The
Seller has, in connection with the transactions contemplated hereby and all
aspects thereof, dealt directly with the Purchaser and has no arrangement or
understanding with or obligation to any broker (except with respect to
ministerial functions, if any) or other intermediary that would result in the
payment of a brokerage fee or other similar remuneration by anyone other than
the Seller. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) The
execution and delivery of this Agreement and the performance of its respective
terms will not, with or without the giving of notice or the passage of time,
conflict with, constitute a violation or breach of or result in a default under,
result in the acceleration of, create in any party the right to accelerate,
terminate, modify, or cancel or require any notice or consent under (a) any
contract, security interest, or other arrangement to which such Seller is a
party or by which such Seller or its property is bound or to which any of such
Seller&#146;s assets are subject, (b) any order, writ, injunction, award, decree,
decision or ruling of any court, arbitrator or governmental or regulatory body
against or binding such Seller or its property, or (c) any statute, law, rule or
regulation of any jurisdiction to which Seller or its property may be subject.
</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e) The
Seller makes no representations or warranties with respect to the business,
assets, liabilities, operations, condition (financial or otherwise), and
prospects of the Company. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 4. <U>Representations and Warranties
of the Purchaser</U>. The Purchaser represents and warrants to the Seller
that:</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
The Purchaser has full right, power and authority to execute, deliver and
perform this Agreement and to carry out the transactions contemplated hereby.
This Agreement has been duly and validly executed and delivered by the Purchaser
and constitutes a valid, binding obligation of the Purchaser, enforceable
against the Purchaser in accordance with its terms (except as such
enforceability may be limited by applicable bankruptcy and similar laws
affecting the enforcement of creditors&#146; rights generally and to general
equitable principles).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
The Purchaser has independently evaluated the merits of its decision to purchase
the Shares pursuant to this Agreement, and the Purchaser confirms that it has
not relied on the advice of the Seller or the Company&#146;s management or the
Company&#146;s business and/or legal counsel in making such decision, except as with respect
the Representations and Warranties of the Seller hereunder and any information
filed by the Seller or the Company with the U.S. Securities and Exchange
Commission. </P>
<P align=center>2 </P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)
The Purchaser has such knowledge, sophistication and experience in business and
financial matters so as to be capable of evaluating the merits and risks of the
prospective investment in the Shares, and has so evaluated the merits and risks
of such investment. The Purchaser is able to bear the economic risk of an
investment in the Shares and, at the present time, is able to afford a complete
loss of such investment. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)
Purchaser is an &#147;accredited investor&#148; as defined in Rule 501(a) under the
Securities Act of 1933, as amended (the &#147;<B>Securities Act</B>&#148;). Such Purchaser
is not a registered broker-dealer under Section 15 of the Securities Exchange
Act of 1934, as amended (the &#147;<B>Exchange Act</B>&#148;).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)
The Purchaser is acquiring the Shares for its own accounts (and not for the
accounts of others) for investment and not with a view to the distribution or
resale thereof. The Purchaser has no agreement or other arrangement with any
person to sell, transfer or pledge any part of the Shares which would guarantee
the Purchaser any profit or provide any guarantee to the Purchaser against any
loss with respect to the Shares. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)
The execution and delivery of this Agreement and the performance of its
respective terms will not, with or without the giving of notice or the passage
of time, conflict with, constitute a violation or breach of or result in a
default under, result in the acceleration of, create in any party the right to
accelerate, terminate, modify, or cancel or require any notice or consent under
(a) any contract, security interest, or other arrangement to which such
Purchaser is a party or by which such Purchaser or its property is bound or to
which any of such Purchaser&#146;s assets are subject, (b) any order, writ,
injunction, award, decree, decision or ruling of any court, arbitrator or
governmental or regulatory body against or binding such Purchaser or its
property, or (c) any statute, law, rule or regulation of any jurisdiction to
which Purchaser or its property may be subject.. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)
The Purchaser acknowledges that the Shares are &#147;restricted securities&#148; as
defined in Rule 144 under the Securities Act.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)
The Purchaser acknowledges that the Seller may possess material non-public
information not known to the Purchaser regarding or relating to the Company or
the Shares, and the Purchaser acknowledges that it has not requested such
information and agrees that the Seller shall have no liability whatsoever (and
the Purchaser hereby waives and releases all claims which it would otherwise
have) with respect to the non-disclosure of such information either prior to the
date hereof or subsequent hereto.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 5. <U>Lock-Up</U>. The Purchaser
hereby irrevocably agrees that it will not, without the prior written consent of
the Company for a period commencing on the date hereof and ending on the second
anniversary of the date of this Agreement (the &#147;<B>Lock-Up Period</B>&#148;), (i)
offer, sell, assign, transfer, encumber, pledge, contract to sell, grant an
option, right or warrant to purchase, announce the intention to sell, sell any
option or contract to purchase, purchase any option or contract to sell, or otherwise dispose of any Shares or any
securities convertible into, or exercisable or exchangeable for, the Shares, or
(ii) enter into any swap or other agreement that transfers, in whole or in part,
any of the economic consequences of ownership of the Shares or such other
securities convertible into, or exercisable or exchangeable for, the Shares
(whether any such transaction described in clause (i) or (ii) above is to be
settled by delivery of Shares or such other securities, in cash or otherwise),
in each case, beneficially owned (within the meaning of Rule 13d-3 under the
Exchange Act) or otherwise controlled by the Purchaser on the date hereof or
hereafter acquired or otherwise controlled.</P>
<P align=center>3 </P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
furtherance of the foregoing, the Purchaser further agrees that the Company is
authorized to place an irrevocable stop order on all Shares and notify the
Company&#146;s transfer agent in writing of the stop order and the restrictions on
such Shares under this Agreement and direct the Company&#146;s transfer agent not to
process any attempts by the Purchaser to resell or transfer any Shares, except
in compliance with this Agreement. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<B><I> </I></B><U>Survival</U>.
The Seller and the Purchaser covenant that their respective representations and
warranties contained herein shall be true in all respects as of the Closing date
of the sale of the Shares pursuant to this Agreement. All representations and
warranties and other agreements made by the Seller and the Purchaser in this
Agreement or pursuant hereto shall survive the Closing date until the first
anniversary of the date hereof. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 7. <U>Additional Action</U>. Each
party shall, upon the request of the other, from time to time, execute and
deliver promptly to such other party all instruments and documents of further
assurances or otherwise and will do any and all such acts and things as may be
reasonably required to carry out the obligations of such party hereunder and to
consummate the transactions contemplated hereby. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 8. <U>Successors and Assigns</U>. This
Agreement shall inure to the benefit of and be binding upon the parties hereto
and their respective successors and assigns. Nothing expressed or referred to in
this Agreement will be construed to give any person other than the parties to
this Agreement any legal or equitable right, remedy or claim under or with
respect to this Agreement or any provision of this Agreement, except such rights
as shall inure to a successor or permitted assignee pursuant to hereto. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 9. <U>Governing Law</U>. This
Agreement shall in all respects be governed by the laws of the State of New York
without giving effect to the principles of conflicts of law thereof. Any dispute
with respect to the interpretation of this Agreement or the rights and
obligations of the parties shall exclusively be brought in a proceeding in the
United States District Court for the Southern District of New York, or if such
court does not have subject matter jurisdiction then in the Supreme Court of the
State of New York, County of New York. Each of the parties accepts and consents
for itself and its property, generally and unconditionally to the exclusive
jurisdiction of such courts and waives the right to object to the jurisdiction
or venue of either of such courts and waives the right to claim that such courts
are inconvenient forums. Each of the parties specifically states that this
Agreement and any disputes as to their meaning or the rights and obligations of
the parties shall not be subject to arbitration.</P>
<P align=center>4 </P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 10. <U>Entire Agreement</U>. This
Agreement constitutes the entire arrangement between the parties with respect to
the Shares and supersedes all prior agreements, whether written or oral, between
the parties with respect to is subject matter.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 11. <U>Amendment; Waiver; Remedies
Cumulative</U>. The rights and remedies of the parties to this Agreement are
cumulative and not alternative. No provision of this Agreement may be waived or
amended except in a written instrument signed, in the case of an amendment, by
both parties hereto or, in the case of a waiver, by the party against whom
enforcement of any such waiver is sought. No waiver of any default with respect
to any provision, condition or requirement of this Agreement shall be deemed to
be a continuing waiver in the future or a waiver of any subsequent default or a
waiver of any other provision, condition or requirement hereof. Neither any
failure nor any delay by any party in exercising any right, power or privilege
under this Agreement or any of the documents referred to in this Agreement will
operate as a waiver of such right, power or privilege, and no single or partial
exercise of any such right, power or privilege will preclude any other or
further exercise of such right, power or privilege or the exercise of any other
right, power or privilege.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 12. <U>Assignment</U>. The Purchaser
may at any time assign its rights and obligations under this Agreement to
persons or entities affiliated with the Purchaser. The Seller shall be required
to honor any such assignment only after receiving notice thereof from the
Purchaser.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 13. <U>Notices</U>. Any notice, demand
or other communication to be given hereunder by either party to the other shall
be in writing (including facsimile transmissions and electronic mail) or
confirmed in writing (including facsimile transmissions and electronic mail) and
(unless provided otherwise) shall be effective when received at the address
specified on the signature page hereto (or to such other address as the party
shall have furnished in accordance with the provisions of this Section 13).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 14. <U>Captions</U>. The captions used
in this Agreement are for convenience only and shall not be deemed as, or
construed as, a part of this Agreement. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 15. <U>Waiver of Jury Trial</U>. Each
party hereby waives, to the fullest extent permitted by law, any right it may
have to a trial by jury in respect to any proceeding directly or indirectly
arising out of, under or in connection with this Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 16 <U>Severability</U>. If any term or
other provision of this Agreement is invalid, illegal or incapable of being
enforced by any rule of law or public policy, all other conditions and
provisions of this Agreement shall nevertheless remain in full force and effect.
Upon such determination that any term or other provision is invalid, illegal or
incapable of being enforced, the parties shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the parties as closely as
possible to the fullest extent permitted by applicable law in an acceptable
manner to the end that the transactions contemplated hereby are fulfilled to the
extent possible. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 17. <U>Confidentiality</U>. This
Agreement and the terms thereof shall be kept confidential and not disclosed to
any person or party (except the respective attorneys of the parties), except as
may be required by law. </P>
<P align=center>5 </P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 18. <U>Advisors</U>. Each Purchaser
and Seller acknowledges that prior to the execution of this Agreement it had
full opportunity to consult with its independent attorneys and advisors as it
deemed appropriate and fully understands the nature and scope of its rights and
obligations hereunder. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; 19. <U>Expenses</U>. Each party shall
be responsible for, and pay, its own expenses incurred in connection with the
preparation and negotiation of this Agreement and in connection with its
performance hereunder. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. <U>Counterparts; Facsimile
Execution</U>. This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, and all of which shall constitute one and
the same instrument. Facsimile execution and delivery of this Agreement is
legal, valid and binding for all purposes. </P>
<P align=center>[<I>Signature Page Follows</I>]</P>
<P align=center>6 </P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties
hereto have executed this Agreement as of the day and year first above written.
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>SELLER:</B> </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Xiangqian Li
    </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Mr. Xiangqian Li </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Address: </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B>PURCHASER:</B> </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Yunfei Li </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Mr. Yunfei Li </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Address: </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR></TABLE>
<P align=center>[<I>Signature Page to Stock Purchase Agreement</I>] </P>
<HR align=center width="100%" color=black noShade SIZE=5>

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