EQUIPMENT LEASE AGREEMENT

                                                                   Exhibit 10.23

                            Equipment Lease Agreement

This Agreement is made and entered into on February  (2?),  2005 in Tai'an City,
People's Republic of China (hereinafter  referred to as "China"), by and between
the following parties:
Lessor:  Shandong Shengda Technology Co., Ltd (hereinafter referred to as "Party
A")
Legal address: North Tip of the Economy & Trade Corridor,  Xintai City. Shandong
Province
Legal representative: Chen Xiangzhi

Lessee:  Shandong Bangsheng Chemical Co., Ltd (hereinafter referred to as "Party
B")
Legal address: No. 342, Lingshan Street, Tai'an City
Legal representative: Xu Xiqing

WHEREAS:
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(1)  Party A is a company limited duly organized,  validly  existing and in good
     standing under the laws of the P.R.C;
(2)  Party B is a company duly organized,  validly existing and in good standing
     as a wholly foreign funded enterprise under the laws of the P.R.C;
(3)  Party B intends  to lease the  Equipment  owned by Party A from Party A for
     its industrial  production  and operation,  and Party A agrees to lease the
     relevant Equipment to Party B.

After friendly negotiation, in light of Party B's intention of leasing Equipment
owned  by  Party A  referred  to in  Article  1 of this  Agreement  (hereinafter
referred to as "the Leased  Equipment"),  the parties enter into an agreement as
follows:

Article 1   Name and Quantity of the Leased Equipment

For the detailed  information of the Leased Equipment,  see Attachment 1 of this
Agreement  for the  Evaluation  Report for the  Leased  Equipment  of  Shangdong
Shengda  Technology Co., Ltd issued by Tai'an  Zhongcheng  Limited Liability CPA
Firm on November 9, 2005.

Article 2   Lease Term

1.   The lease term is three years from the  effective  date of this  Agreement.
     Both  parties  irrevocably  agree that,  after the  expiration  date of the
     leasing  term,  Party B has the right to choose to extend the leasing  term
     for 3 more years,  within which the renting fee shall be  determined by the




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     two  parties  according  to the Rental  Evaluation  Report  provided  by an
     independent  certified  public  accountants'  firm  entrusted  by  the  two
     parties. However, the renting fee during the extended leasing term shall be
     maximumly 5% higher than that during the previous 3-year leasing term.
2.   Be that as it may otherwise  stipulated,  the two parties irrevocably agree
     that  Party B has the  right  to  terminate  this  Agreement  at any  time;
     however,  Party B  should  notify  Party A in  writing  with a  three-month
     advanced notice.

Article 3   Rental, Time and Mode of Rental Payment

1.   According to Attachment 1 of this Agreement, the parties hereby agree that,
     the rental under this Agreement is RMB one million six hundred and nineteen
     thousand  and two hundred  (1,619,200)  yuan per year.  If the actual lease
     term is less than one year,  Party B shall  pay the  rental  proportionally
     according to the actual lease term to Party A.
2.   The rental shall be transferred to the account  appointed by Party A within