EXHIBIT 10.12


Summary of Comprehensive Credit Facilities Agreement by and between Shenzhen BAK
Battery Co., Ltd. (the "Company") and Longgang  Division,  Shenzhen  Development
Bank ("Shenzhen Development Bank") dated as of April 1, 2004.

         The contract  number for this  agreement is Shenfa  Longgang  Daizi NO.
200403055.  The contract term is April 1, 2004 to April 1, 2005,  and the amount
of credit to be extended by Shenzhen  Development Bank is RMB 150,000,000  Yuan.
The  agreement  provides  that the documents and bills must be based on real and
genuine trading;  otherwise,  the credit is suspended immediately.  Furthermore,
the Company cannot  mortgage its new factory and dormitory  buildings to a third
party or the loan becomes mature immediately.