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

                                   FORM 10-QSB
                                   (Mark One)

     |X| Quarterly report pursuant to Sections 13 or 15(d) of the Securities
                              Exchange Act of 1934

                  For the quarterly period ended March 31, 2006

    |_| Transition report pursuant to Sections 13 or 15(d) of the Securities
                              Exchange Act of 1934

        For the transition period from _______________ to _______________

                        Commission File Number:000-32341

                           Soyodo Group Holdings, Inc.
                       (Formerly TOP Group Holdings, Inc.)
        (Exact Name of Small Business Issuer as Specified in Its Charter)



         Delaware                                               84-1485082
--------------------------------                             ------------------
(State or Other Jurisdiction of                               (I.R.S. Employer
Incorporation or Organization)                               Identification No.)


                1398 Monterey Pass Road, Monterey Park, CA 91754
                ------------------------------------------------
          (Address of Principal Executive Offices, Including Zip Code)

                                 (323) 261-1888
                                 --------------
                (Issuer's Telephone Number, Including Area Code)

  The number of shares outstanding of our Common Stock, $0.0001 par value per
               share, as of March 31, 2006, was 7,160,000 shares.

           Transitional Small Business Disclosure Format (check one):

                                 Yes |_| No |X|

<PAGE>

                           Soyodo Group Holdings, Inc.



                              INDEX TO FORM 10-QSB

                                                                            PAGE

PART I.  Financial Information

Item 1.  Financial Statements..................................................1

Item 2.  Management's Discussion and Analysis of Plan of Operation.............1

Item 3.  Controls and Procedures...............................................2

PART II. Other Information

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds...........3

Item 4.  Submission of Matters to a Vote of Security Holders...................3

Item 6.  Exhibits and Reports on Form 8-K .....................................3

SIGNATURES ....................................................................4

CERTIFICATIONS...............................................................5-7

<PAGE>

                          PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

For the Company's response to this item, please refer to the Financial
Statements annexed pages F-1 to F-7 of this Form 10-QSB.

Item 2. Management's Discussion and Analysis of Plan of Operation

This Quarterly Report on Form 10-QSB contains statements that may constitute
"forward-looking statements" within the meaning, and made pursuant to the Safe
Harbor provisions, of the Private Securities Litigation Reform Act of 1995. Such
statements are based on management's current expectations and are subject to a
number of risks and uncertainties, including, but not limited to, the difficulty
inherent in operating an early-stage company in a new and rapidly evolving
market, market and economic conditions, the impact of competitive products,
product demand and market acceptance risks, changes in product mix, costs and
availability of raw materials, fluctuations in operating results, delays in
development of highly complex products, risk of customer contract or sales order
cancellations and other risks detailed from time to time in our filings with the
Securities and Exchange Commission (the "SEC"). These risks and uncertainties
could cause our actual results to differ materially from those described in the
forward-looking statements. Any forward-looking statement represents our
expectations or forecasts only as of the date it was made and should not be
relied upon as representing its expectations or forecasts as of any subsequent
date. Except as required by law, we undertake no obligation to correct or update
any forward-looking statement, whether as a result of new information, future
events or otherwise, even if our expectations or forecasts change.

The following discussion and analysis should be read in conjunction with the
financial statements, related notes and other information included in this
Quarterly Report on Form 10-QSB, as well as in conjunction with the consolidated
financial statements and the related notes. The financial statements have been
prepared in accordance with US Generally Accepted Accounting Principles, or
GAAP.

Background

The Company was incorporated as "Quixit, Inc." on May 15, 1997, under the laws
of the State of Colorado. On January 16, 2003, we engaged in the Change in
Control, whereby TOP Group Corp. (New York) purchased 4,400,000 shares of the
Company's common stock from H. Daniel Boone, who was then President and Chairman
of the board of directors. On August 22, 2005, due to its inactive status and
its intension to wind up, TOP Group Corp. (New York) conveyed its
4,400,000shares to Song Ru-hua, the Company's President and Chairman of the
Board, in partial satisfaction of his personal loan to TOP Group Corp. (New
York).

Prior to the Change in Control, our purpose was to investigate opportunities to
be acquired by a company that desired to be registered under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"). After the Change in
Control, we started to pursue other plans.

In the second quarter of 2005, we decided to commence a chain of member-only
stores in locations with large Chinese immigrant populations, offering Chinese
culture-related merchandise such as books, pre-recorded CDs, stationery, gifts,
and sports goods. As of March 31, 2006, the Company has opened up six stores in
Temple City of California, San Francisco of California, Irvine of California,
Westmont of Illinois, Hacienda Heights of California and Alhambra of California.

At the special meeting in March of 2003, our stockholders approved a change in
our state of incorporation from Colorado to Delaware. Later in March, our
stockholders approved a change in our name from Quixit, Inc. to TOP Group
Holdings, Inc. Again at the special meting in August of 2005, our stockholders
approved a change in our name from TOP Group Holdings, Inc. to Soyodo Group
Holdings, Inc.

                                        1

<PAGE>

A. PLAN OF OPERATIONS

We presently operate in the retail business in locations within continental USA
with large Chinese immigrant populations. Our merchandise consists of mainly
Chinese books, pre-recorded CDs, stationery, gifts and sports goods. Competition
in the retail business is intense. The barrier of new entries is quite low.

Results of Operations for the three months Ended March 31, 2006 Compared to the
three months Ended March 31, 2005

We had retail sales of $ 680,103 and a gross profit of $278,720 during the three
months ended March 31, 2006, compared with none in the three months ended March
31, 2005. On the other hand, we incurred $ 458,387 in operating expenses in the
three months ended March 31, 2006, compared to $ 3,553 in the three months ended
March 31, 2005. The year 2005 was the first time that we got into the retail
business. During the three months ended March 31, 2006, we incurred $15,133 in
advertising expenditure, $154,219 in stores' rents and $212,964 in payroll
expense. We had a net loss of $ 187,158 in the three months ended March 31,
2006, compared to $ 3,553 in the three months ended March 31, 2005.

B. LIQUIDITY AND CAPITAL RESOURCES

As of March 31, 2006, we had $ 145,898 operating capital, thanks to a loan of
$280,000 from Mr. Song Ru-hua, another loan of $50,000 from our director, Fang
Ye, and an Eastwest bank loan of $ 500,000 backed personally by Song Ru-hua. If
the revenue stream and the cash flow from those stores are not up to our
expectation, we may continue to rely upon advances or loans from shareholders to
pay our expenses. However, we have no commitments from any person for advances
or loans.

We incurred a loss of $ 187,158 from operations for the three months ended March
31, 2006, and losses are expected in the future as well. This does raise
substantial doubt about our ability to continue as a going concern. Our plans
include seeking additional capital and/or debt financing. There is no guarantee
that additional capital and/or debt financing will be available when and to the
extent required, or that if available, it will be on terms acceptable to us. Our
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.



Item 3. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

      Based on their evaluation as of March 31, 2006, our chief executive
officer and chief financial officer have concluded that our disclosure controls
and procedures (as defined in Rules 13a-l5(e) and 15d-15(e) under the Securities
Exchange Act of I 934, as amended) were effective to ensure the information
required to be disclosed by us in reports that we file or submit under the
Securities Exchange Act of 1934 is recorded, processed, summarized and reported
within the time periods specified in the SEC' s rules and forms.

Management`s Report on Internal Control over Financial Reporting

      Our management is responsible for establishing and maintaining adequate
internal control over financial reporting, as such term is defined in Exchange
Act Rules 13a- 15(f) and l5d-15(f). Under the supervision and with the
participation of our management, including our Chief Executive Officer and Chief
Financial Officer, we conducted an evaluation of the effectiveness of our
internal control over financial reporting as of March 31, 2006. In making this
assessment, our management used the criteria set forth by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO) in Internal
Control-Integrated Framework. Our management has concluded that, as of March 31,
2006, our internal control over financial reporting was effective based on these
criteria.

Changes in Internal Control over Financial Reporting

      There were no changes in our internal control over financial reporting
during the quarter ended March 31, 2006 that have materially affected, or are
reasonably likely to materially affect our internal control over financial
reporting.

Inherent Limitations on Effectiveness of Controls

      Our management, including our chief executive officer and chief financial
officer, does not expect that our procedures or our internal controls will
prevent or detect all error and all fraud. An internal control system, no matter
how well conceived and operated, can provide only reasonable, not absolute,
assurance that the objectives of the control system are met. Because of the
inherent limitations in all control systems, no evaluation of our controls can
provide absolute assurance that all control issues and instances of fraud, if
any, have been detected.

                                        2

<PAGE>

                           PART II. OTHER INFORMATION

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

In June of 2005, we had an unregistered sale of 2,000,000 shares to Ru-Hua Song
for $ 250,000. The proceeds have been utilized as our working capital to open up
retail stores. On December 15, 2005, our three officers, Wu Hai, Li Ke-Guang and
Zhang Hao, committed to acquire 160,000 shares (restricted) for $80,000.
However, we still have a $45,000 in our stock subscription receivable account as
of today, which means we may need to reverse some of those officers'
subscription in the future.

Item 4. Submission of Matters to a Vote of Security Holders

On January 21, 2005, by written consent, our shareholders elected Song Ru-hua,
Fang Ye and Zhou Tao to serve as our directors. At that time, the shareholders
also adopted and approved a restatement to the company's Certificate of
Incorporation to, among other things, to reflect prior amendments and
re-appointed the Company's independent public accountant. At a special meeting
in August of 2005, by written consent, our stockholders approved a change in our
name from TOP Group Holdings, Inc. to Soyodo Group Holdings, Inc.

Item 6. Exhibits and Reports on Form 8-K

  (a) Exhibits

    Exhibit
    Number    Description
    -------   -----------


      3.1     Articles of Amendment to the Articles of Incorporation of the
              Company (incorporated by reference to the Company's proxy
              statement on Schedule 14A filed with the Commission on March
              5, 2003 (the "Proxy statement")

      3.2     Agreement and Plan of Merger between Quixit, Inc., a Colorado
              corporation, and TOP Group Corporation (now known as TOP Group
              Holdings, Inc.), a Delaware corporation (incorporated by
              reference to the Proxy Statement)

      3.3     Certificate of Incorporation of the Company (incorporated by
              reference to the Proxy Statement)

      3.4     By-Laws of the Company (incorporated by reference to the Proxy
              Statement)

      3.5     Restated Certificate of Incorporation of the Company
              (incorporated by reference to the Company's proxy statement on
              Schedule 14C filed with the commission on March 15, 2005 for
              an increase of authorized shares)

      3.6     Amended and Restated Certificate of Incorporation of the
              Company (incorporated by reference to the Company's proxy
              statement on Schedule l4C filed with the commission on August
              26, 2005 for a name change)

      31.1    Certification

      31.2    Certification

      32      Certification

      b)      Reports on Form 8-K

      We filed a report on Form 8-K on February 21, 2006 to inform the
replacement of Michael Johnson & Co., LLC by Jaspers + Hall, PC of Denver,
Colorado as our new public accountant. Michael Johnson withdrew his registration
with the PCAOB on September 27, 2005. Because of this, we filed another report
on Form 8-K on March 8, 2006 to inform that our financial statements in our Form
10-QSB for the quarterly period ended September 30, 2005 should no longer be
replied upon, and that we would ask our successor independent public accountant,
Jaspers + Hall, PC, to re-review those financial statements to remove this
deficiency, which was done on April 13, 2006.

                                        3

<PAGE>

                                   SIGNATURES

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

                                       SOYODO Group Holdings, Inc.





Dated:  May 2, 2006                    By: /s/ Zhao Xiao-Zhong
                                           ------------------------------------
                                           Zhao Xiao-Zhong
                                           Treasurer
                                           (Principal Financial and Accounting
                                           Officer)


Dated: May 2, 2006                     By: /s/ Song Ru-Hua
                                           ------------------------------------
                                           Song Ru-Hua
                                           President
                                           (Principal Executive Officer)












                                        4
<PAGE>

                              SOYODO HOLDINGS, INC.
                       (Formerly TOP Group Holdings, Inc.)
                                 Balance Sheets
                                    March 31,
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                  2006           2005
                                                               -----------    -----------
ASSETS

   Current Assets:
<S>                                                            <C>            <C>
      Cash & cash equivalents                                  $   145,898    $      --
      Inventory, retail                                            816,968           --
      Prepaid expenses                                               4,381           --
      Related parties receivable                                    97,027           --

  Total Current Assets                                           1,064,274           --
                                                               -----------    -----------

  Property & equipment, net                                        205,718           --
  Security deposits                                                137,962           --

TOTAL ASSETS                                                   $ 1,407,954    $      --
                                                               ===========    ===========

LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)
    Current Liabilities
         Accounts payable & accrued expense                    $   912,990    $      --
         Accrued payroll & related liabilities                      38,941           --
         Accrued other liabilities                                  46,055          3,553
         Advance from shareholders & directors                     330,000         82,788
         Note payable                                              500,000           --
                                                                              -----------

    Total Current Liabilities                                    1,827,986         86,341
                                                               -----------    -----------


   Stockholders Equity (Deficit)
      Common stock, $.0001 par value, 100,000,000 shares               716            500
         authorized, 7,160,000 shares issued and outstanding
         as of 3/31/06, and 5,000,000 as of 3/31/05
      Additional Paid-In Capital                                   465,077        135,293
      Stock subscription receivable                                (45,000)          --
      Accumulated Deficit                                      $  (840,825)      (222,134)
                                                               -----------    -----------

   Total Stockholders' Equity ( Deficit)                          (420,032)       (86,341)
                                                               -----------    -----------

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)             $ 1,407,954    $      --
                                                               ===========    ===========
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                      F-1

<PAGE>

                              SOYODO HOLDINGS, INC.
                       (Formerly TOP Group Holdings, Inc.)
                            Statements of Operations
                      For the three months Ended March 31,
                                   (Unaudited)



                                                 2006           2005
                                              -----------    -----------


Net Sales                                     $   680,103    $      --
                                              -----------    -----------

Cost of Goods Sold                            $  (401,383)
                                              -----------    -----------

Gross Profit                                      278,720           --
                                              -----------    -----------

Operating Expenses
     Sales & Marketing                             21,636
     Store Rents                                  154,219           --
     General & Administrative                     282,532          3,553

Total Operating Expenses                          458,387          3,553
                                              -----------    -----------

Net Loss From Operations                      $  (179,667)   $    (3,553)
                                              -----------    -----------

Interest Expense                                    7,491

Net Income                                    $  (187,158)   $    (3,553)
                                              -----------    -----------

Per Share Information:
     Weighted average number
     of common shares outstanding               7,160,000      5,000,000
                                              -----------    -----------

Net Loss per common share                     $     (0.03)            *)
                                              ===========    ===========

* Less than $0.01



   The accompanying notes are an integral part of these financial statements.

                                      F-2

<PAGE>

                              SOYODO HOLDINGS, INC.
                       (Formerly TOP Group Holdings, Inc.)
                              Stockholders' Equity
                                 March 31, 2006
                                   (Unaudited)

<TABLE>
<CAPTION>
                                          COMMON STOCKS
                                    --------------------------    Additional                        Stock           Total
                                                                    Paid-In        Accumulated    Subscription   Stockholders'
                                      # of Shares    Amount         Capital        Deficit        Receivable        Equity
                                    ------------    ----------    ------------   -------------   -------------   -------------

<S>                                  <C>            <C>           <C>             <C>           <C>              <C>
Balance -  December 31, 2003          5,000,000           500         135,293        (192,065)             -          (56,272)
                                    ------------    ----------    ------------   -------------   -------------   -------------

Net Loss for the Year                         -             -               -         (26,516)             -          (26,516)
                                    ------------    ----------    ------------   -------------   -------------   -------------

Balance -  December 31, 2004          5,000,000           500         135,293        (218,581)             -          (82,788)
                                    ------------    ----------    ------------   -------------   -------------   -------------

Issurance of stock for cash           2,160,000           216         329,784               -          45,000         285,000
Net Loss for the year                         -             -               -        (435,086)             -         (435,086)
                                    ------------    ----------    ------------   -------------   -------------   -------------
Balance -  December 31, 2005          7,160,000           716         465,077        (653,667)         45,000        (232,874)
                                    ------------    ----------    ------------   -------------   -------------   -------------

Net Loss 1/1/06 to 3/31/06                                                           (187,158)                       (187,158)
                                                                                                                 -------------
Balance -  March 31, 2006             7,160,000           716         465,077        (840,825)       $ 45,000        (420,032)
                                    ============    ==========    ============   =============   =============   =============
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                      F-3

<PAGE>

                              SOYODO HOLDINGS, INC.
                       (Formerly TOP Group Holdings, Inc.)
                            Statements of Cash Flows
                      For the three months Ended March 31,

                                 Inderect Method
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                            2006         2005
                                                          ---------    ---------
Cash Flows from Operating Activities:
<S>                                                       <C>          <C>
     Net Loss                                             $(187,158)   $  (3,553)
     Adjustments to reconcile net loss to net cash used
        by operating activities
        Depreciation                                          9,426
        Decrease (Increase) in Inventory                   (173,612)
        Decrease (Increase) in other currect assets          52,658
        Decrease (Increase) in security deposits               --
        Increase (Decrease) in accounts payable             118,636
        Increase (Decrease) in current liabilities           17,420        3,553

Net Cash Used by Operating Activities                      (162,630)        --
                                                          ---------    ---------

Investing Activities:

     Purchase of property and equipment                      (2,594)        --

Net Cash from Investing Activities                           (2,594)        --
                                                          ---------    ---------

Financing Activities

     Net proceeds from issurance of common stock               --           --
     Increase in notes payable                               55,683         --
     Increase in loan from shareholders & directors         150,000         --

Net Cash from Financing Activities                          205,683         --
                                                          ---------    ---------

Net Increase in Cash & Cash Equivalents                      40,459         --

Beginning Cash & Cash Equivalents                           105,439         --
                                                          ---------    ---------

Ending Cash & Cash Equivalents                            $ 145,898    $    --
                                                          =========    =========


SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
     Cash paid for Interest                               $   7,491    $    --
                                                          =========    =========
     Cash paid for Income Taxes                           $    --      $    --
                                                          =========    =========
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                      F-4
<PAGE>

                              SOYODO HOLDINGS, INC.
                          Notes to Financial Statements
                                 March 31, 2006

Note 1 - Organization and Summary of Significant Accounting Policies:

Organization:

The Company was incorporated on May 15, 1997, under the laws of the state of
Colorado. On January 16, 2003, TOP Group Corp., a New York corporation,
purchased 4,400,000 shares of the Company's common stock, which represented
88% of the Company's outstanding capital stock at that time. Prior to the
change in control, the Company's purpose was to investigate opportunities to
be acquired by a company that desired to be registered under the Securities
Exchange Act of 1934, as amended.

In the second quarter of 2005, the company decided to commence a chain of
member-only stores in locations with large Chinese immigrant populations,
offering Chinese culture-related merchandise such as books, pre-recorded CDs,
stationery, gifts, and sports goods. As of March 31, 2006, six retail stores
were up and running.

In March 2003, the Company changed its state of incorporation from Colorado to
Delaware, and changed its name from Quixit, Inc. to TOP Group Holdings, Inc.
In August of 2005, the company changed its name from TOP Group Holdings, Inc.
to Soyodo Group Holdings, Inc. The Company's fiscal year end is December 31.

Basis of Accounting:

The accompanying financial statements have been prepared on the accrual basis
of accounting in accordance with accounting principles generally accepted in
the United States.

Cash and Cash Equivalents:

The Company considers all highly liquid debt instruments, purchased with an
original maturity of three months or less, to be cash equivalents.

Use of Estimates:

The preparation of financial statements, in conformity with accounting
principles generally accepted in the United States, requires management to
make estimates and assumptions that affect the reported amounts of assets and
liabilities, and disclosure of contingent assets and liabilities at the date
of the financial statements and the reported amounts of revenue and expenses
during the reporting period. Actual results could differ from those estimates.

Net Loss Per Share:

Net loss per share is based on the weighted average number of common shares
outstanding during the period.

Other Comprehensive Income:

The Company has no material components of other comprehensive income (loss),
and accordingly, net loss is equal to comprehensive loss in all periods.

Inventory:

The valuation method used for our closing inventory is lower of cost or
market.

Note 2 - Property and Equipment:

The net property & equipment consist of $21700 of equipment, $134,960 of
furniture & fixture, $47,761 of leasehold improvement and $1,297 of software.
The useful life is 5 years for equipment, 7 years for F & F, 5 years (the
length of most of our leases) for leasehold improvement, and 3 years for
software. Straight-line method of depreciation is used.

Note 3 - Commitments--Operating leases:

As of March 31, 2006, the Company had entered into leases for six retail
stores, of which five are located in California and one in Illinois. Those
leases range from 2 years to five years with a total retail space of 32,000
square feet. Without adjustment for cost escalation clauses, our minimum lease
payments will be about $599,000 for the 12-month period ending March 31, 2007,
about $1,385,000 for the 36-month period ending March 31, 2009, provided that
our two-year leases are not renewed.

                                     F-5

<PAGE>

                           SOYODO GROUP HOLDINGS, INC.
                          Notes to Financial Statements
                                 March 31, 2006


Note 4 - Federal Income Taxes:

The Company has made no provision for income taxes because there have been no
net income for financial statements or tax purposes.

The Financial Accounting Standards Board (FASB) has issued Statement of
Financial Accounting Standards Number 109 ("SFAS 109"). "Accounting for Income
Taxes", which requires a change from the deferred method to the asset and
liability method of accounting for income taxes. Under the asset and liability
method, deferred income taxes are recognized for the tax consequences of
"temporary differences" by applying enacted statutory tax rates applicable to
future years to differences between the financial statement carrying amounts
and the tax basis of existing assets and liabilities.

Deferred tax assets
       Net operating loss carry-forwards           $      840,825
       Valuation allowance                               (840,825)
                                                   --------------
       Net deferred tax assets                     $            0
                                                   ==============


As of March 31, 2006, the Company had net operating loss carry-forwards of
approximately $ 840,825 for federal income tax purposes. These carry-forwards
if not utilized to offset taxable income will begin to expire in 2010.

Note 5 - Going Concern:

The Company's financial statements have been prepared on the basis that it is
a going concern, which contemplated the realization of assets and the
satisfaction of liabilities in the normal course of business.

The Company commenced its retail operation in the third quarter of 2005 in
locations with large Chinese immigrant populations, offering Chinese
culture-related merchandise such as books, pre-recorded CDs, stationery,
gifts, and sports goods. As of March 31, 2006, the Company has six stores in
California and Illinois.

As of March 31, 2006, the Company's current liabilities exceed current assets
by $ 763,712, and its net worth is negative $ 420,032. Furthermore, it has
signed operating leases with financial commitment totaling $1,385,000 in the
next three years. Therefore, the Company's ability to continue as a going
concern is dependent upon its ability to achieve profitable operations and to
develop additional sources of capital. The accompanying financial statements
do not include any adjustments that might result from the outcome of these
uncertainties.

Note 6 - Capital Stock Transactions:

On March 25, 1999, the Company's Board of Directors approved an amendment to
the Articles of Incorporation of the Company, declaring a 1 to 10 reverse
stock split of outstanding common stock at March 25, 1999. In 2001, the Board
of Directors declared a 5 to 1 forward stock split. On January 21, 2005, the
company filed an Amended Certificate of Incorporation to increase the shares
authorized to issue from 5,000,000 to 100,000,000 and to reduce the par value
per share from $0.01 to $0.0001.

No shares of common stock were issued in 2003 and 2004. However in the second
quarter of 2005, the principal shareholder, Mr. Song Ru-hua, contributed
$250,000 in consideration for 2,000,000 common shares (restricted) to be used
as working capital. On December 15, 2005, three officers of the company
committed to contribute $ 80,000 in consideration for 160,000 common shares
(restricted).

All shares and per share amounts in the accompanying financial statements of
the Company and notes thereto have been retroactively adjusted to reflect the
stock splits and the par value reduction.

Note 7 - Related Party Transactions:

The company imports all of its merchandise from a trading company in China,
where our director, Fang Ye, has been its president and the majority
shareholder. In addition, Mr. Song Ru-hua has been a majority owner of three
privately held companies in California and New York, which are in the same
line of business and import their merchandise from this same trading company.
For the three months ended March 31, 2006, we did have transactions with these
three privately held companies, mainly the sales of merchandise to them at our
wholesale rate. As of March 31, 2006, we had a total of related party
receivable of $ 97,027 against these three companies.

                                       F-6
<PAGE>

Note 8 - Notes payable (current) and loans from shareholders:

The shareholder loan of $ 280,000 is from Mr. Song Ru-hua, while the director
loan of $ 50,000 is from Mr. Fang Ye. Both carry a deferred interest charge
and will not be due until December 31, 2006. The loan from Eastwest Bank is a
letter of credit facility with Mr. Song Ru-hua's personal guarantee. It will
become due in May of 2006 unless the renewal is successfully arranged before
that time.

Note 9 - Segment Information:

The Company as of March 31, 2006 had operation only in the retail business in
the U.S.A, approximately 92.60% of which is in California and the remaining is
in Illinois.













                                       F-7