Translation
Equity Transfer Agreement
This agreement is signed by the following parties on May 6，2008 in company’s conference room.
Assignor: LI，Yuhe(Signature) (Hereinafter “Party A”)
Assignee: ZHOU，Feng (Signature) (Hereinafter “Party B”)
Changsha Wangfa Entertainment Co., Ltd. (Hereinafter “Objective Company”) has a registered capital of RMB 100,000 Yuan, in which Party A contributes RMB 40,000 Yuan, accounting for 40%. In accordance with related laws and regulations, the parties have, after friendly negotiation, made the following agreement:
Article I Objective and Price of Equity Transfer
1. Party A shall assign the 40% of the objective company’s equity he owns (original contribution amount is RMB 40,000 Yuan) to Party B at the original price.
2. All rights affiliated to equity are also transferred together with the equities.
3. The assignee shall, within 30 days after signing this agreement, pay up all the payment for the equities transferred.
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Party A: LI，Yuhe(Signature)
Party B: Zhou，Feng(Signature)
