Product Purchase and Sales Agreement between Tianjin Tianshi Biological Development Co., Ltd. and Tianjin Tianshi Biological Engineering Co., Ltd.

Summary

This agreement is between Tianjin Tianshi Biological Development Co., Ltd. (the supplier) and Tianjin Tianshi Biological Engineering Co., Ltd. (the seller). The supplier agrees to provide products to the seller, who will handle all domestic sales. The seller must submit an annual order plan by December 25 each year, and the purchase price is set at 25% of the domestic retail price. The supplier guarantees product quality and is liable for losses from quality issues. Payments are to be made monthly, with no delays allowed. Both parties agree to cooperate in case of disputes.

EX-10.7 2 tb5264ex107.txt EXHIBIT 10.7 EXHIBIT 10.7 PRODUCT PURCHASE AND SALES AGREEMENT Party A (hereinafter referred to as the "Biological"): Tianjin Tianshi Biological Development Co., Ltd. Party B (hereinafter referred to as the "Engineering"): Tianjin Tianshi Biological Engineering Co., Ltd. Biological and Engineering sign this agreement on a basis of equality and mutual benefit. 1. Biological agrees that Engineering sells Biological's products, and promises to supply required products to Engineering timely. 2. Engineering provides its coming year's order plan to Biological by each December 25. Engineering is in charge of selling all of Biological's products domestically. Biological sells its products to Engineering at a price which is 25% of its domestic market's retail price. 3. Biological promises that all the products sold shall be in accordance with the quality requirement of Engineering, and is responsible for any losses of Engineering resulted from quality problems. 4. Engineering shall make payment for goods to Biological monthly. Any delay of payment for goods is prohibited. 5. Both parties shall observe this agreement, and cooperate with each other if any dispute arises. Party A: Party B: Tianjin Tianshi Biological Development Tianjin Tianshi Biological Engineering Co., Ltd. Co., Ltd. [COMPANY SEAL AFFIXED] [COMPANY SEAL AFFIXED] June 25, 2003 June 25, 2003