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Exhibit 10.12
(English Translation)

TECHNOLOGY LICENSE CONTRACT

This contract (the “ Contract ”) is entered by and between the following two parties on July 23, 2010 in Zhaoqing City, Guangdong Province, China:

Licensor: Lin Xiangzhong (the “ Licensor ”)
Licensee: Guangdong Jinhao Motorcycle Company Limited (the “ Licensee ”)

Whereas, the Licensor is the legal owner of a new type permanent magnetism brushless four-quadrant direct current electric motor technology and the Licensee is the investor of all expenses of the research and development of product and technology of a new type Permanent magnetism brushless four-quadrant direct current electric motor;

Whereas, the Licensor has right and is willing to license the Licensee to manufacture, use, sell, promise to sell and import a new type permanent magnetism brushless four-quadrant direct current electric motor and use the technology of a new type permanent magnetism brushless four-quadrant direct current electric motor;

Whereas, the Licensee may use the Technology to manufacture and sell Patent Product (as defined below);

The parties through friendly consultation and reach the following agreement subject to the terms and conditions hereto:

Article 1. Definitions

1.1 “Patent Product” means the new type permanent magnetism brushless four-quadrant direct current electric motor as specified in the attachment one of this Contract; such product has been certified as utility model patent (the “ Patent ”) by State Intellectual Property Office of the PRC with the patent No. of 200610020086.X


Exhibit 10.12
(English Translation)

1.2 “Technology” means the technology to produce the Patent Product.

Article 2. The Contract scope

2.1 The Licensor agrees to license the Licensee to manufacture, use, sell, promise to sell and import Patent Product and the Licensee agrees to obtain license from the Licensor to o manufacture, use, sell, promise to sell and import Patent Product.

2.2 The Licensor agrees to license the Licensee to use the Technology and the Licensee agrees to obtain license from the Licensor to use the Technology.

2.3 The license the Licensee obtains from the Licensor pursuant to c


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