U.S. SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C. 20549

                               Form 10-QSB

(Mark One)
X...Quarterly report under section 13 or 15(d) of the Securities
Exchange Act of 1934 for the quarterly period ended July 31, 2006.

 ....Transition report under section 13 or 15(d) of the Securities
Exchange Act of 1934 [No Fee Required] for the transition period
from _________ to _________.

Commission File No:   __000-24483__

                      SUNBURST ACQUISITIONS V, INC.
                 ---------------------------------------
                 (Name of small business in its charter)

      Colorado                              84-1461844
----------------------               -----------------------
(State or other                      (IRS Employer Id.  No.)
jurisdiction of Incorporation)


P.O. Box No. 25290   Harbour Building Post Office    Hong Kong
-------------------------------------------------------------------
(Address of Principal Office)                              Zip Code

          Issuer's telephone number:    (852) 9654 4021


Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act during the past 12
months (or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing requirements
for the past 90 days.

 Yes ____  No ___X___

Applicable only to issuers involved in bankruptcy proceedings during
the past five years

Check whether the issuer has filed all documents and reports required
to be filed by Section 12, 13 or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by a court.

  Yes _____ No _____

Applicable only to corporate issuers

State the number of shares outstanding of each of the issuer's classes
of common equity, as of the latest practicable date.  At 7/31/06 the
following shares of common were outstanding: Common Stock, no par
value, 2,735,000 shares.

Transitional Small Business Disclosure
Format (Check one):
Yes _____     No __X__

<PAGE>

PART 1 - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS AND EXHIBITS

       (a)  The unaudited financial statements of registrant for the
three months ended July 31, 2006 follow.  The financial statements
reflect all adjustments which are, in the opinion of management,
necessary to a fair statement of the results for the interim period
presented.



                      SUNBURST ACQUISITIONS V, INC.
                      (A Development Stage Company)

                          FINANCIAL STATEMENTS

                             July 31, 2006


<PAGE>


                             CONTENTS


     Balance Sheet                                       F-1
     Statements of Operations                            F-2
     Statements of Cash Flows                            F-3
     Notes to Financial Statements                       F-4

<PAGE>





                         Sunburst Acquisitions V, Inc.
                         (A Development Stage Company)
                                BALANCE SHEET
                                July 31, 2006


<TABLE>
<S>                                                 <C>              <C>

                                                    Quarter Ended    Prior Year Ended
                                                    July 31, 2006    April 30, 2006
ASSETS

CURRENT ASSETS:
   Cash and cash equivalents                         $       -        $       -
                                                     ---------        ---------

     Total current assets                                    -                -
                                                     ---------        ---------

     TOTAL ASSETS                                    $       -                -
                                                     =========        =========

  LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Accounts payable                                  $     282            1,628
   A/P Related Party					13,786           13,786
                                                     ---------        ---------

     Total current liabilities                          15,696           15,414

STOCKHOLDERS' EQUITY
   Preferred stock, no par value
     20,000,000 shares authorized;
     no shares issued and outstanding                   -                     -
   Common stock, no par value;
     100,000,000 shares authorized;
     2,735,000 shares issued and
     outstanding                                        12,535           12,535
   Additional paid-in capital                           19,147           19,147
   Deficit accumulated
     during the
     development stage                                 (47,378)         (47,096)
                                                     ---------        ---------
                                                       (15,696)         (15,414)
                                                     ---------        ---------
     TOTAL LIABILITIES AND STOCKHOLDERS'
       EQUITY                                        $       -        $       -
                                                     =========        =========
</TABLE>

The accompanying notes are an integral part of the financial statements.
                                 F-1

<PAGE>

                         Sunburst Acquisitions V, Inc.
                         (A Development Stage Company)
                           STATEMENTS OF OPERATIONS


<TABLE>
<S>                       <C>          <C>       <C>
                          For the
                          period from
                          inception
                          (April 30,
                          1998) to     For the three months
                          July 31,       ended July 31,
                          2006           2006       2005
                          -----------  ---------  ---------

REVENUES                  $         -  $       -  $       -
                          -----------  ---------  ---------

EXPENSES
  Amortization                    300          -          -
  Bank Service Charge              34          -          -
  Consulting fees               2,535          -        600
  General office                  644          -          -
  Legal fees                   10,622          -          -
  Professional fees            21,391          -      8,111
  Rent                          4,350          -        150
  Transfer agent                7,502        282     (1,485)
                          -----------  ---------  ---------

      Total expense            47,378        282      7,376
                          -----------  ---------  ---------

NET LOSS                      (47,378)      (282)    (7,376)


NET LOSS PER SHARE        $     (0.02) $   (NIL)  $    (NIL)
                          ===========  =========  =========

WEIGHTED AVERAGE NUMBER
  OF SHARES OF COMMON
  STOCK AND COMMON STOCK
  EQUIVALENTS
  OUTSTANDING               2,215,823  2,735,000  2,735,000
                          ===========  =========  =========
</TABLE>
The accompanying notes are an integral part of the financial statements.
                                  F-2

<PAGE>



                          Sunburst Acquisitions V, Inc.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS

<TABLE>
<S>                           <C>             <C>            <C>
                              For the period
                              from inception  For the        For the
                              (April 30,      three          three
                              1998) to        months ended   months ended
                              July 31,        July 31,       July 31,
                              2006            2006           2005
                              --------------- -------------  -------------

CASH FLOWS FROM
    OPERATING ACTIVITIES:

  Net Loss                   $       (47,378) $        (282) $       (7,376)
  Adjustments to reconcile
     net loss to net cash used
     by operating activities:
    Amortization                         300              -              -
    Rent expense                       4,350              -            150
    Stock issued for
     consulting fees                   2,535              -            600
    Increase (decrease) in
     accounts payable                  1,911            282          2,515
    Increase in A/P
     related party                    18,682              -        (1,157)
                              --------------  -------------  -------------

  Net cash used by
   operating activities              (19,600)             -        (5,268)

CASH FLOWS FROM
    INVESTING ACTIVITIES

  Increase in organization costs        (300)             -              -
                              --------------  -------------  -------------

  Net cash used by
   investing activities                 (300)             -              -

CASH FLOWS FROM
    FINANCING ACTIVITIES

  Issuance of preferred
   stock                              10,000              -              -
   Cash contributed by
   shareholder                         9,900              -          4,000
                              --------------  -------------  -------------

  Net cash provided
   financing activities               19,900              -              -
                              --------------  -------------  -------------

  Net increase (decrease)
   in cash and cash
   equivalents                             -              -         (1,268)

CASH AND CASH EQUIVALENTS,
  Beginning of Period                      -              -          1,268
                              --------------  -------------  -------------

CASH AND CASH EQUIVALENTS,
 End of Period                $            -  $           - $            -
                              ==============  =============  =============
</TABLE>
The accompanying notes are an integral part of the financial statements.
                                 F-3

<PAGE>



			  Sunburst Acquisitions V, Inc.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                                  July 31, 2006

1.  Management's Representation of Interim Financial Information
    ------------------------------------------------------------

The accompanying financial statements have been prepared by Sunburst
Acquisitions V, Inc. without audit pursuant to the rules and regulations of
the Securities and Exchange Commission.  Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles have been condensed or omitted
as allowed by such rules and regulations, and management believes that the
disclosures are adequate to make the information presented not misleading.
These financial statements include all of the adjustments which, in the
opinion of management, are necessary to a fair presentation of financial
position and results of operations.  All such adjustments are of a normal
and recurring nature.  These financial statements should be read in
conjunction with the audited financial statements at April 30, 2006.




                                 F-4

<PAGE>

Item 2.         MANAGEMENT'S DISCUSSION AND ANALYSIS


Certain statements contained in this report, including statements concerning
the Company's future cash and financing requirements, and other statements
contained herein  regarding  matters that are not historical  facts, are
forward  looking statements; actual results may differ materially from those
anticipated.

Change In Control

     On August 11, 2005, Onping Limited, a British Virgin Islands corporation,
purchased 2,464,000 shares, or approximately 90% of the Company's issued and
outstanding common stock pursuant to a Stock Purchase Agreement dated
June 21, 2005.  The shares were purchased from five individuals.  Upon
purchase closing, Jay Lutsky, the Company's sole director and officer,
resigned and Terence Ho, the sole shareholder of Onping LTD., and Vivian
Szeto were appointed Directors of the Company.

Liquidity and Capital Resources

        The Company remains in the development stage and, since
inception, has experienced no significant change in liquidity or capital
resources or stockholder's equity other than the receipt of net proceeds
in the amount of $19,900 from its inside capitalization funds.
Consequently, the Company's balance sheet for the period ending July 31,
2006 reflects a current asset value of $0 and a total asset value
of $0, as compared with $0 for the quarter ended July 31, 2005.

     As of April 30, 2005, the Company's then president Mr. Jay Lutsky had
paid corporate expenses on behalf of the Company totaling $6,054 cumulatively.
In an informal agreement between Mr. Lutsky and the Company, the balance
owing for the expenses was satisfied during the first quarter in exchange
for $1,157 in cash.  The remainder of the balance owing to Mr. Lutsky was
contributed to the capital of the Company.

     The Company negotiated a reduction in its outstanding balance with its
transfer agent of $1,485, and the remaining $4,000 was paid during the quarter
ended July 31, 2005.  Funding was provided by the buyer of the Company's
stock and is presented as a contribution to the capital of the Company.


Results of Operations

        During the period from April 30, 1998 (inception) through
July 31, 2006, the Company has engaged in no significant operations
other than organizational activities, acquisition of capital and preparation
for registration of its securities under the Securities Exchange Act of
1934, as amended.  No revenues were received by the Company during
this period.

        For the current fiscal year, the Company anticipates incurring a
loss as a result of expenses associated with registration under the Securities
Exchange Act of 1934.  For the quarters ended July 31, 2006 and 2005, the
Company showed net losses of $282 and $7,376, respectively.  For the three
month period ending July 31, 2006 and 2005, the Company showed net losses of
$282 and $7,376, respectively.  During the current fiscal year, management
caused the Company to complete and file all of its delinquent filings
with the Securities and Exchange Commission.

Plan of Operations

     Since the change in control, the Company's plan for the coming year is
to identify and acquire favorable business opportunity.  The Company does not
plan to limit its options to any particular industry, but will evaluate each
opportunity on its merits.  The acquisition of a business opportunity may be
made by purchase, merger, exchange of stock, or otherwise, and may encompass
assets or a business entity, such as a corporation, joint venture, or
partnership.

Need for Additional Financing

        The Company believes that its existing capital will not be
sufficient to meet the Company's cash needs, including the costs of
compliance with the continuing reporting requirements of the Securities
Exchange Act of 1934, as amended.  Accordingly, the Company has relied on
Its existing stockholders to provide with which to fund its due diligence
activities.

        No commitments to provide additional funds have been made by
management or other stockholders.  Accordingly, there can be no
assurance that any additional funds will be available to the Company to
allow it to cover its expenses.

        The Company might also seek to compensate providers of services by
issuances of stock in lieu of cash.

Item 3.         CONTROLS AND PROCEDURES

The Securities and Exchange Commission defines the term disclosure
controls and procedures to mean a company's controls and other procedures
that are designed to ensure that information required to be disclosed in
the reports that it files or submits under the Securities Exchange Act of
1934 is recorded, processed, summarized and reported, within the time
periods specified in the Securities and Exchange Commissions rules and
forms. The Company maintains such a system of controls and procedures in
an effort to ensure that all information which it is required to disclose
in the reports it files under the Securities Exchange Act of 1934 is
recorded, processed, summarized and reported within the time periods
specified under the SEC's rules and forms.

The issuer is not an operating entity.  Its sole asset is cash and cash
equivalents in an account at a major banking institution.  Our controls
and procedures provide reasonable assurance as to the reliability of the
financial statements and other disclosure included in this report, as well
as safeguard its cash assets from unauthorized use or disposition.

Based on an evaluation performed, the Company's certifying officers have
concluded that the disclosure controls and procedures were effective.

There was no change in the Company's internal control over financial
reporting during the first quarter ended July 31, 2006, that has
materially affected, or is reasonably likely to materially affect, the
Company's internal control over financial reporting.


ART II

ITEM 1.  LEGAL PROCEEDINGS

	None

ITEM 2.  CHANGES IN SECURITIES

	None

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

	None

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

	None

ITEM 5.  OTHER INFORMATION

	None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

            (a)   Exhibits

            31    Certification of Chief Executive Officer and Chief Financial
                  and Accounting Officer of the Company Accompanying Periodic
                  Reports pursuant to Section 302 of the Sarbanes-Oxley Act of
                  2002 (as filed herewith).

	    32    Certification of Chief Executive Officer and Chief Financial
                  and Accounting Officer of the Company pursuant to Section 906
                  of the Sarbanes-Oxley Act of 2002 (as filed herewith).
I

S<PAGE>
Signatures

In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

SUNBURST ACQUISITIONS V, INC.
(Registrant)

Date:March 10, 2007
/s/ Terence Ho

I