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**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**____________________________**

**FORM      10-Q**

| x | Quarterly                report under Section 13 or 15(d) of the Securities Exchange Act of                1934 |
|---|-----------------------------------------------------------------------------------------------------------------|

**For      the quarterly period ended March 31, 2007**

| o | Transition                report under Section 13 or 15(d) of the Exchange                Act |
|---|-----------------------------------------------------------------------------------------------|

**For      the transition period from _____________ to _____________**

**Commission      File Number 000-51431**

**Chardan      North China Acquisition Corporation**

| **Delaware**                                                                                                                    | **20-2479743**                                                    |
|---------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------|
| (State                or other Jurisdiction ofIncorporation                or Organization)                                     | (I.R.S.                EmployerIdentification                No.) |
|                                                                                                                            |                                                              |
| **625                Broadway, Suite 1111, San Diego, California 92101**(Address                of principal executive offices) |
|                                                                                                                            |
| **(619)                795-4627**(Registrant’s                telephone number, including area code)                      |
|                                                                                                                            |

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**CHARDAN      NORTH CHINA ACQUISITION CORPORATION**

**FORM      10-Q**

**INDEX**

|                                                                        |
|-----------------------------------------------------------------------------|
| **Part                I** **Financial                Information:**    |
| **`**                                                                       |
| Item                1 Financial                Statements (Unaudited): |
|                                                                        |
| Balance                Sheet                                                |
|                                                                        |
| Statements                of Operations                                     |
|                                                                        |
| Statement                of Stockholders’ Equity                      |
|                                                                        |
| Statement                of Cash Flows                                      |
|                                                                        |
| Notes                to Financial Statements                                |
|                                                                        |
| **Part                II** **Other                Information**        |
|                                                                        |
| Item                4 Exhibits                                         |
|                                                                        |
| Signatures                                                                  |

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**Explanatory      Note**

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| **PART                I. FINANCIAL INFORMATION** **ITEM                1** **FINANCIAL                STATEMENTS (UNAUDITED)** **CHARDAN                NORTH CHINA ACQUISITION CORPORATION**  |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **(A                Development Stage Company)**                                                                                                                                                                   |
| **Condensed                Balance Sheets**                                                                                                                                                                        |
|                                                                                                                                                                                                               |   |   |   |   |   |
|                                                                                                                                                                                                               |   | **March                31, 2007** |   | **December                31, 2006** |   |
|                                                                                                                                                                                                               |   | **(Unaudited)** |   |   |   |
|                                                                                                                                                                                                               |   |   |   |   |   |
| **ASSETS**                                                                                                                                                                                                         |   |
| Current                assets:                                                                                                                                                                                     |   |   |   |   |   |
| Cash                and cash equivalents                                                                                                                                                                           |   | $ | 23,145 |   | $ | 529 |   |
| Investments                held in trust                                                                                                                                                                           |   |   | 31,549,825 |   |   | 31,294,931 |   |
| Prepaid                expenses and other                                                                                                                                                                          |   |   | 16,170 |   |   | 25,768 |   |
| Total                current assets                                                                                                                                                                                |   |   | 31,589,140 |   |   | 31,321,228 |   |
|                                                                                                                                                                                                               |   |   |  |   |   |  |   |
| Long                term deferred tax asset                                                                                                                                                                        |   |   | 296,534 |   |   | 292,188 |   |
|                                                                                                                                                                                                               |   |   |   |   |   |   |   |
| Total                Assets                                                                                                                                                                                        |   | $ | 31,885,674 |   | $ | 31,613,416 |   |
|                                                                                                                                                                                                               |   |   |  |   |   |  |   |
| **LIABILITIES                AND STOCKHOLDERS' EQUITY**                                                                                                                                                            |
| Current                liabilities:                                                                                                                                                                                |   |   |  |   |   |  |   |
| Accounts                payable and accrued liabilities                                                                                                                                                            |   | $ | 816,946 |   | $ | 507,871 |   |
| Income                taxes payable                                                                                                                                                                                |   |   | 232,100 |   |   | 203,955 |   |
| Notes                payable, related parties                                                                                                                                                                      |   |   | 36,250 |   |   | 107,500 |   |
| Deferred                interest                                                                                                                                                                                   |   |   | 344,059 |   |   | 293,106 |   |
| Total                current liabilities                                                                                                                                                                           |   |   | 1,429,355 |   |   | 1,112,432 |   |
|                                                                                                                                                                                                               |   |   |  |   |   |  |   |
| Commitments                                                                                                                                                                                                        |   |   |  |   |   |  |   |
|                                                                                                                                                                                                               |   |   |  |   |   |  |   |
| Common                stock subject to possible conversion                                                                                                                                                         |   |   | 5,964,017 |   |   | 5,964,017 |   |
| 1,149,425                shares at conversion value                                                                                                                                                                |   |   |  |   |   |  |   |
|                                                                                                                                                                                                               |   |   |  |   |   |  |   |
| Stockholders'                equity:                                                                                                                                                                               |   |   |  |   |   |  |   |
| Preferred                stock, $.0001 par value, 1,000,000                                                                                                                                                        |   |   | - |   |   | - |   |
| shares                authorized, none issued                                                                                                                                                                      |   |   |  |   |   |  |   |
| Common                stock, $.0001 par value: 20,000,000                                                                                                                                                          |   |   | 700 |   |   | 700 |   |
| shares                authorized, 7,000,000 shares issued and outstanding                                                                                                                                          |   |   |  |   |   |  |   |
| (includes                1,149,425 shares subject to possible conversion)                                                                                                                                          |   |   |  |   |   |  |   |
|  Additional                paid-in capital                                                                                                                                                                    |   |   | 25,006,126 |   |   | 25,006,126 |   |
| Deficit                Accumulated during the development stage                                                                                                                                                    |   |   | (514,524 | ) |   | (469,859 |   |
| Total                stockholders' equity                                                                                                                                                                          |   |   | 24,492,302 |   |   | 24,536,967 |   |
|                                                                                                                                                                                                               |   |   |    |   |   |    |   |
| Total                Liabilities and Stockholders' Equity                                                                                                                                                          |   | $ | 31,885,674 |   | $ | 31,613,416 |   |
|                                                                                                                                                                                                               |   |   |  |   |   |  |   |
| *See                the accompanying notes to the condensed financial                statements*                                                                                                                   |

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| **Chardan                North China Acquisition Corporation**                                   |
|--------------------------------------------------------------------------------------------------|
| **(A                Development Stage Company)**                                                 |
| **Condensed                Statements of Operations**                                            |
|                                                                                             |   |   |   |   |   |   |   |
|                                                                                             |   |   |   |   |   | From |   |
|                                                                                             |   | Three |   | Three |   | March                10, 2005 |   |
|                                                                                             |   | Months |   | Months |   | (Inception) |   |
|                                                                                             |   | Ended |   | Ended |   | Through |   |
|                                                                                             |   | March                31, 2007 |   | March                31, 2006 |   | March                31, 2007 |   |
|                                                                                             |   | (Unaudited) |   | (Unaudited) |   | (Unaudited) |   |
|                                                                                             |   |   |   |   |   |   |   |
| Costs                and Expenses                                                                |   |   |   |   |   |   |   |
| Admin                and office support                                                          |   |   | 22,500 |   |   | 22,500 |   |   | 150,000 |   |
| Consulting                                                                                       |   |   | - |   |   | - |   |   | 66,700 |   |
| Insurance                                                                                        |   |   | 22,486 |   |   | 17,500 |   |   | 114,973 |   |
| Marketing                fees                                                                    |   |   | 22,097 |   |   | 24,836 |   |   | 141,862 |   |
| Professional                fees                                                                 |   |   | 160,838 |   |   | 193,391 |   |   | 832,268 |   |
| State                franchise tax                                                               |   |   | 3,172 |   |   | 5,875 |   |   | 50,948 |   |
| Travel                                                                                           |   |   | 7,225 |   |   | 86,170 |   |   | 349,749 |   |
| Other                operating costs                                                             |   |   | 18,944 |   |   | 24,490 |   |   | 103,589 |   |
|                                                                                             |   |   |  |   |   |  |   |   |  |   |
| Total                costs and expenses                                                          |   |   | 257,262 |   |   | 374,762 |   |   | 1,810,089 |   |
|                                                                                             |   |   |  |   |   |  |   |   |  |   |
| Operating                loss                                                                    |   |   | (257,262 | ) |   | (374,762 | ) |   | (1,810,089 | ) |
|                                                                                             |   |   |  |   |   |  |   |   |  |   |
| Other                income (expense):                                                           |   |   |  |   |   |  |   |   |  |   |
| Interest                income                                                                   |   |   | 203,941 |   |   | 245,351 |   |   | 1,382,241 |   |
| Other                income                                                                      |   |   | 35,000 |   |   | - |   |   | 35,000 |   |
| Interest                expense                                                                  |   |   | (2,545 | ) |   | - |   |   | (4,310 | ) |
|                                                                                             |   |   |  |   |   |  |   |   |  |   |
| Total                other income                                                                |   |   | 236,396 |   |   | 245,351 |   |   | 1,412,931 |   |
|                                                                                             |   |   |  |   |   |  |   |   |  |   |
| Net                loss before income tax provision                                              |   |   | (20,866 | ) |   | (129,411 | ) |   | (397,158 | ) |
|                                                                                             |   |   |  |   |   |  |   |   |  |   |
| Income                tax (provision) benefit                                                    |   |   | (23,799 | ) |   | 16,413 |   |   | (117,366 | ) |
|                                                                                             |   |   |  |   |   |  |   |   |  |   |
| Net                loss                                                                          |   | $ | (44,665 | ) | $ | (112,998 | ) | $ | (514,524 | ) |
|                                                                                             |   |   |  |   |   |  |   |   |  |   |
| Loss                per share - basic and diluted                                                |   |   | (0.01 | ) |   | (0.02 | ) |   | (0.11 | ) |
| Weighted                average shares outstanding - basic and diluted                           |   |   | 5,897,470 |   |   | 7,000,000 |   |   | 4,854,922 |   |
|                                                                                             |   |   |  |   |   |  |   |   |  |   |
| *See                the accompanying notes to the condensed financial                statements* |

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| **Chardan                North China Acquisition Corporation**                                                                                                        |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **(A                Development Stage Company)**                                                                                                                      |
| **Condensed                Statements of Changes in Stockholders'                Equity**                                                                             |
|                                                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                  |   |   |   |   |   | Additional |   |   |   | Stockholders' |   |
|                                                                                                                                                                  |   | Common |   | Paid                - In |   | Accumulated |   | Equity |   |
|                                                                                                                                                                  |   | Shares |   | Amount |   | Capital |   | (Deficit) |   | (Deficit) |   |
|                                                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Issuance                of common shares to initial shareholders on March 10, 2005 at $0.02                per                share                                   |   |   | 1,250,000 |   | $ | 125 |   | $ | 24,875 |   | $ | - |   | $ | 25,000 |   |
| Sale                of 5,750,000 units, net of underwriters' discount and offering expenses                (includes 1,149,425 shares subject to possible conversion) |   |   | 5,750,000 |   |   | 575 |   |   | 30,945,168 |   |   | - |   |   | 30,945,743 |   |
| Proceeds                subject to possible conversion of 1,149,425 shares                                                                                            |   |   | - |   |   | - |   |   | (5,964,017 | ) |   | - |   |   | (5,964,017 | ) |
| Proceeds                from issuance of an underwriter's option                                                                                                      |   |   | - |   |   | - |   |   | 100 |   |   | - |   |   | 100 |   |
| Loss                for the twelve monts ended December 31, 2005                                                                                                      |   |   | - |   |   | - |   |   | - |   |   | (101,742 | ) |   | (101,742 | ) |
|                                                                                                                                                                  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |
| Balance                at December 31, 2005                                                                                                                           |   |   | 7,000,000 |   | $ | 700 |   | $ | 25,006,126 |   | $ | (101,742 | ) | $ | 24,905,084 |   |
|                                                                                                                                                                  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |
| Loss                for the twelve months ended December 31, 2006                                                                                                     |   |   |   |   |   |   |   |   |   |   |   | (368,117 | ) |   | (368,117 | ) |
|                                                                                                                                                                  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |
| Balance                at December 31, 2006                                                                                                                           |   |   | 7,000,000 |   | $ | 700 |   | $ | 25,006,126 |   | $ | (469,859 | ) | $ | 24,536,967 |   |
| Unaudited:                                                                                                                                                            |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |
| Loss                for the three months ended March 31, 2007                                                                                                         |   |   |   |   |   |   |   |   |   |   |   | (44,665 | ) |   | (44,665 | ) |
|                                                                                                                                                                  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |
| Balance                at March 31, 2007                                                                                                                              |   |   | 7,000,000 |   | $ | 700 |   | $ | 25,006,126 |   | $ | (514,524 | ) | $ | 24,492,302 |   |
|                                                                                                                                                                  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |
| *See                the accomanying notes to the condensed financial                statements*                                                                       |

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| **Chardan                North China Acquisition Corporation** |
|----------------------------------------------------------------|
| **(A                Development Stage Company)**               |
| **Condensed                Statement of Cash Flows**           |
|                                                           |

|                                                                                                    |   |                          |     |                          |   | From                          |   |
|---------------------------------------------------------------------------------------------------------|--------|-------------------------------|----------|-------------------------------|--------|-------------------------------|--------|
|                                                                                                    |   | Three                         |     | Three                         |   | March                10, 2005 |   |
|                                                                                                    |   | Months                        |     | Months                        |   | (Inception)                   |   |
|                                                                                                    |   | Ended                         |     | Ended                         |   | Through                       |   |
|                                                                                                    |   | March                31, 2007 |     | March                31, 2006 |   | March                31, 2007 |   |
|                                                                                                    |   | (Unaudited)                   |     | (Unaudited)                   |   | (Unaudited)                   |   |
|                                                                                                    |   |                          |     |                          |   |                          |   |
| Cash                Flows from Operating Activities:                                                    |   |                          |          |                          |   |                               |   |   |  |   |
| Net                loss                                                                                 |   | $                             | (44,665  | )                             | $      | (112,998                      | )      | $ | (514,524 | ) |
| Adjustments                to reconcile net loss to net cash                                            |   |                          |          |                          |   |                               |   |   |  |   |
| used                in operating activities:                                                            |   |                          |          |                          |   |                               |   |   |  |   |
| Amortization                of discounts and interest earned on securities held in                trust |   |                          | (254,895 | )                             |   | (302,814                      | )      |   | (1,714,825 | ) |
| Cash                received on interest bearing accounts                                               |   |                          | -        |                          |   | (3,070                        | )      |   |  |   |
| Changes                in operating Assets and Liabilities:                                             |   |                          |          |                          |   |                               |   |   |  |   |
| Prepaid                expenses and other current assets                                                |   |                          | 9,599    |                          |   | 25,000                        |   |   | (6,000 | ) |
| Deferred                tax asset                                                                       |   |                          | (4,346   | )                             |   | (154,975                      | )      |   | (296,534 | ) |
| Accounts                payable and accrued liabilities                                                 |   |                          | 309,075  |                          |   | 60,411                        |   |   | 816,946 |   |
| Income                taxes payable                                                                     |   |                          | 28,145   |                          |   | (43,238                       | )      |   | 232,100 |   |
| Deferred                interest                                                                        |   |                          | 50,953   |                          |   | 60,533                        |   |   | 344,059 |   |
| Net                cash provided (used) by operating activities                                         |   |                          | 93,866   |                          |   | (471,151                      | )      |   | (1,138,778 | ) |
|                                                                                                    |   |                          |          |                          |   |                               |   |   |  |   |
| Cash                Flows from Investing Activities:                                                    |   |                          |          |                          |   |                               |   |   |  |   |
| Purchases                of investments held in trust                                                   |   |                          | -        |                          |   | -                             |   |   | (29,835,000 | ) |
| Cash                received on interest bearing accounts                                               |   |                          | -        |                          |   | 3,070                         |   |   |   |   |
| Net                cash provided (used) by investing activities                                         |   |                          | -        |                          |   | 3,070                         |   |   | (29,835,000 | ) |
|                                                                                                    |   |                          |          |                          |   |                               |   |   |  |   |
| Cash                Flows from Financing Activities                                                     |   |                          |          |                          |   |                               |   |   |  |   |
| Proceeds                from issuance of common stock                                                   |   |                          | -        |                          |   | -                             |   |   | 34,525,000 |   |
| Proceeds                from issuance of option                                                         |   |                          | -        |                          |   | -                             |   |   | 100 |   |
| Payment                of costs associated with public offering                                         |   |                          | -        |                          |   | -                             |   |   | (3,554,257 | ) |
| Proceeds                from related party loans                                                        |   |                          | -        |                          |   | -                             |   |   | 107,500 |   |
| Repayment                of related party loans                                                         |   |                          | (71,250  | )                             |   | -                             |   |   | (71,250 | ) |
| Advance                to affiliate                                                                     |   |                          | -        |                          |   | -                             |   |   | (10,170 | ) |
| Net                cash provided (used) by financing activities                                         |   |                          | (71,250  | )                             |   | -                             |   |   | 30,996,923 |   |
|                                                                                                    |   |                          |          |                          |   |                               |   |   |  |   |
| Net                increase (decrease) in cash and cash equivalents                                     |   |                          | 22,616   |                          |   | (468,081                      | )      |   | 23,145 |   |
| Cash                and cash equivalents, beginning of the period                                       |   |                          | 529      |                          |   | 856,380                       |   |   | - |   |
| Cash                and cash equivalents, end of the period                                             |   | $                             | 23,145   |                          | $      | 388,299                       |   | $ | 23,145 |   |

|                                  |   |   |    |   |   |   |   |
|---------------------------------------|--------|--------|---------|--------|--------|--------|--------|
| Cash                paid for taxes    |   | $      | 181,800 |   | $      | -      |   | $ | 181,800 |   |
| Cash                paid for interest |   | $      | -       |   | $      | -      |   | $ | - |   |

*See        the accomanying notes to the condensed financial        statements*

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**CHARDAN      NORTH CHINA ACQUISITION CORPORATION**

**(A      DEVELOPMENT STAGE COMPANY)**

**NOTES      TO THE FINANCIAL STATEMENTS**

**FOR      THE THREE MONTHS ENDED MARCH 31, 2007**

**1.      SUMMARY OF ORGANIZATION AND BASIS OF PRESENTATION**

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***Accounting      Pronouncements:***

**2.      GOING CONCERN**

**3.      RELATED PARTY TRANSACTIONS**

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**4.      NOTES PAYABLE - RELATED PARTIES**

| Total                notes payable, related parties | $                36,250 |
|-----------------------------------------------------|-------------------------|

**5.      MATERIAL AGREEMENTS**

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| **Year                Ending December 31** |   | **After-Tax                Profit** |
|--------------------------------------------|--------|-------------------------------------|
| 2007                                       | $      | 23,000,000                          |
| 2008                                       | $      | 32,000,000                          |
| 2009                                       | $      | 43,000,000                          |
| 2010                                       | $      | 61,000,000                          |
| 2011                                       | $      | 71,000,000                          |

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**PART      II. OTHER INFORMATION**

**ITEM      4. EXHIBITS**

|  | (a) | Exhibits: |
|--|-----|-----------|

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SIGNATURES

| Dated:                July 2, 2007 | CHARDAN                NORTH CHINA ACQUISITION CORPORATION |
|------------------------------------|------------------------------------------------------------|
|                               |                                                       |   |
|                               | By:                                                        | /s/                Li Zhang |
|                               |                                                       | Li                ZhangChief                Executive Officer(Principal                Executive Officer) |
|                               |                                                       |   |
|                               |                                                       |   |
|                               | By:                                                        | /s/                Kerry Propper |
|                               |                                                       | Kerry                PropperChief                Financial Officer and Secretary(Principal                Accountingand                Financial Officer) |
|                               |                                                       |

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