EXHIBIT 10.17


Summary of Guaranty  Agreement by and between Shenzhen  Branch,  Industrial Bank
and Shenzhen High-Tech Investment Service Co. ("Shenzhen High-Tech") dated as of
March 10, 2004.

         Shenzhen  High-Tech  signed a guaranty on March 10, 2004 in relation to
the Loan  Agreement as summarized in Exhibit  10.16.  According to the guaranty,
the  guarantor  undertakes  to assume the liability of Shenzhen BAK Battery Co.,
Ltd., subject to the maximum security amount of RMB 20,000,000 Yuan.