Summary of CancellationAgreement Party A: Chongqing Chaosheng Education and Investment Co., Ltd. Legal Representative: Xu Hong Title: Chairman Party B: Yupei Information Technology (Shanghai) Co., Ltd. Legal Representative: Ron Chan Tze Ngon Title: Chairman

EX-2.1 2 v161181_ex2-1.htm Unassociated Document
Exhibit 2.1

Summary
of
Cancellation Agreement
   
Party A: 
Chongqing Chaosheng Education and Investment Co., Ltd.
Legal Representative: Xu Hong
Title: Chairman
   
Party B:
Yupei Information Technology (Shanghai) Co., Ltd.
Legal Representative: Ron Chan Tze Ngon
Title: Chairman
   
Party A and Party B executed a share transfer agreement on August 11, 2009. In accordance to the aforesaid share transfer agreement, Party A shall transfer 20% equity interests in Chongqing Hai Lai Technology Education Development Co., Ltd., the total amount of the share transfer price is RMB135,000,000. Up till now, the aforementioned share transfer agreement has not been performed. Now, pursuant to Article 93 of the Contract Law of the People’s Republic of China, after friendly negotiations of Party A and Party B, both parties hereby agree to cancel the aforesaid share transfer agreement on September 11, 2009. Such agreement is void since the beginning. Party A and Party B are not responsible to each other for any breach liability.

This cancellation agreement becomes effective after Party A and Party B sign and seal on the agreement.

This agreement consists of four copies. Party A and Party B hold two copies, respectively, and all copies have the same legal effect.
   
Party A: 
Chongqing Chaosheng Education and Investment Co., Ltd.
Legal Representative/ Authorized Person: Xu Hong
/s/ Xu Hong
Date: September 18, 2009
   
Party B:
Yupei Information Technology (Shanghai) Co., Ltd.
Legal Representative/ Authorized Person: Ron Chan Tze Ngon
/s/ Ron Chan Tze Ngon
Date: September 18, 2009