exhibit 10. 2 articles of association of hengyang valin mpm steel tube co., ltd. august 15, 2006 table of contents 1 definitions 2 2 general provisions 6 3 purposes, scope of business and scale of production of the company 7 4 total amount of investment and registered capital 9 5 non - encumbrance 10 6 board of directors 10 7 management organization 19 8 anti - corruption 24 9 labor management 25 10 trade union 26 11 annual operating plans and budgets 26 12 taxation, three funds and profit distribution 27 13 financial affairs and accounting 28 14 bank accounts and foreign exchange 30 15 duration and early termination 30 16 liquidation and dissolution 31 17 insurance 33 18 miscellaneous 33 schedule 1 the authority of the director of quality assurance and the director of international marketing schedule 2 qualification requirements for the candidates of cfo table of contents 1 definitions 2 2 general provisions 6 3 purposes, scope of business and scale of production of the company 7 4 total amount of investment and registered capital 9 5 non - encumbrance 10 6 board of directors 10 7 management organization 19 8 anti - corruption 24 9 labor management 25 10 trade union 26 11 annual operating plans and budgets 26 12 taxation, three funds and profit distribution 27 13 financial affairs and accounting 28 14 bank accounts and foreign exchange 30 15 duration and early termination 30 16 liquidation and dissolution 31 17 insurance 33 18 miscellaneous 33 1 definitions 2 1 1 definitions definitions 2 2 2 general provisions 6 2 2 general provisions general provisions 6 6 3 purposes, scope of business and scale of production of the company 7 3 3 purposes, scope of business and scale of production of the company purposes, scope of business and scale of production of the company 7 7 4 total amount of investment and registered capital 9 4 4 total amount of investment and registered capital total amount of investment and registered capital 9 9 5 non - encumbrance 10 5 5 non - encumbrance non - encumbrance 10 10 6 board of directors 10 6 6 board of directors board of directors 10 10 7 management organization 19 7 7 management organization management organization 19 19 8 anti - corruption 24 8 8 anti - corruption anti - corruption 24 24 9 labor management 25 9 9 labor management labor management 25 25 10 trade union 26 10 10 trade union trade union 26 26 11 annual operating plans and budgets 26 11 11 annual operating plans and budgets annual operating plans and budgets 26 26 12 taxation, three funds and profit distribution 27 12 12 taxation, three funds and profit distribution taxation, three funds and profit distribution 27 27