U.S. Securities and Exchange Commission
                             Washington, D.C. 20549



                                   FORM 10-QSB


         [X]     QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended
                 September 30, 2001

         [ ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934 for the transition period from
                 _______ to _______

                 COMMISSION FILE NUMBER   000-27301

                        HUADING FINANCIAL NETWORKS, INC.
        (Exact name of small business issuer as specified in its charter)


            Nevada                                       91-1932118
 (State or other jurisdiction of               (IRS Employer Identification No.
 incorporation or organization)



 37/F, ShenFang Plaza, No. 3005, Renmin Road South, Shenzhen 518005, P.R. China
                    (Address of principal executive offices)

                                (86) 755-82352093
                           (Issuer's telephone number)



Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  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 |X| No |_|

Number  of  shares  of  common  stock  outstanding  as of  September  30,  2001:
13,200,000



<PAGE>


                         PART I -- FINANCIAL INFORMATION

Item 1. Financial Statements.

                        HUADING FINANCIAL NETWORKS, INC.
                             COMBINED BALANCE SHEETS
                 AS OF SEPTEMBER 30, 2001 and DECEMBER 31, 2000

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

                                                                     September 30            December 31
                                                                          2001                  2000
                                                                          ----                  ----
                                                                      (unaudited)            (audited)
        ASSETS                                                             $                      $

CURRENT ASSETS
     Cash                                                                123,167               127,967

PROPERTY AND EQUIPMENT                                                   288,437               357,529

OTHER ASSETS                                                              15,924                 9,291
                                                                          ------                 -----

     TOTAL ASSETS                                                        427,528               494,787
                                                                       ==========             =========

        LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
     Other payables and accrued expenses                                 163,484               135,259
     Amounts due to related parties                                    1,983,219             1,213,997
                                                                       ---------             ---------
        Total current liabilities                                      2,146,703             1,349,256

COMMITMENTS                                                                 -                     -

STOCKHOLDERS' EQUITY
     Common stock, par value $0.001 per
        share, authorized 75,000,000 shares, issued and
        outstanding 13,200,000 shares at September 30,
        2001 and December 31, 2000                                        13,200                13,200
     Additional paid-in capital                                          686,800               686,800
     Accumulated deficit                                              (2,419,175)           (1,554,469)
                                                                       -----------           -----------

     TOTAL STOCKHOLDERS' EQUITY                                       (1,719,175)             (854,469)
                                                                       -----------             ---------

     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
                                                                         427,528               494,787
                                                                         ========              ========
</TABLE>

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


<PAGE>


                     HUADING FINANCIAL NETWORKS, INC.
                     COMBINED STATEMENTS OF OPERATIONS
   FOR THE THREE MONTH AND NINE MONTH PERIODS ENDED SEPTEMBER 30, 2001 AND 2000




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

                                         Three Months ended                          Nine Months ended
                                         ------------------                          -----------------
                                 September 30          September 30        September 30          September 30

                                     2001                  2000                 2001                  2000
                                     ----                  ----                 ----                  ----
                                  (unaudited)          (unaudited)          (unaudited)           (unaudited)
                                       $                     $                   $                    $

General and
administrative expenses             (272,545)             (375,969)          (853,105)            (959,462)
                                    ---------             ---------          ---------            ---------
  OPERATING LOSS                    (272,545)             (375,969)          (853,105)            (959,462)

Other income (expense)
     Other                                21                   975                935                3,994
     Interest expense                 (7,337)              (28,760)           (12,536)             (54,497)
                                      -------              --------           --------             --------
                                      (7,316)              (27,785)           (11,601)             (50,503)

Net loss before income
taxes                               (279,861)             (403,754)          (864,706)          (1,009,965)

Provision for income taxes                 -                     -                  -                    -
                                    --------              --------           --------           ----------
 NET LOSS                           (279,861)             (403,754)          (864,706)          (1,009,965)
                                    =========            =========           ========             ========
Basic and diluted loss
per common share:                      (0.02)                (0.03)             (0.07)               (0.15)
                                       ======                ======             ======               ======

Weighted average common
shares outstanding basic          13,200,000            13,200,000         13,200,000            6,600,000
and diluted                       ==========            ==========         ==========            =========

</TABLE>



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



<PAGE>


                        HUADING FINANCIAL NETWORKS, INC.
                        COMBINED STATEMENTS OF CASH FLOWS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2000

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

                                                                                 Nine Months ended
                                                                                 -----------------
                                                                            September 30      September 30
                                                                                2001              2000
                                                                                ----              ----
                                                                            (unaudited)        (unaudited)
                                                                                  $                  $

(Decrease) Increase in cash

Cash flows from operating activities:
    Net loss                                                                   (864,706)        (1,009,965)

    Adjustments to reconcile net
    loss to net cash provided by
    (used in) operating activities:-

       Depreciation and amortization                                             80,895             35,674

       Change in assets and
       liabilities:
          Increase in other assets                                               (6,633)            (8,222)
          Increase in amount due to
          related parties                                                       769,222            710,012
          Increase in other payables
          and accrued expenses                                                   28,255            269,643
                                                                                -------            -------

           Net cash provided by
           (used in) operating
           activities                                                             7,033             (2,858)

Cash flows from investing activities:
     Purchases of property and
     equipment                                                                  (11,803)          (319,856)
                                                                                --------          ---------

Cash flows from financing activities:
     Proceeds from issuance of
     common stock in private
     placements                                                                       -             700,000
                                                                                --------           --------
Net increase (decrease) in cash                                                   (4,770)           377,286

Cash at beginning of period                                                      127,967                  -
                                                                                ---------          --------

Cash at end of period                                                            123,197            377,286
                                                                                ========           ========
Supplemental disclosures of cash flow information:
     Cash paid during the period for:
        Interest                                                                  12,536             54,497
                                                                                ========            =======
        Income taxes                                                                   -                  -
                                                                                ========            =======
</TABLE>

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


<PAGE>





                        HUADING FINANCIAL NETWORKS, INC.
           NOTES TO INTERIM COMBINED FINANCIAL STATEMENTS (UNAUDITED)

1.        BASIS OF PRESENTATION

          The accompanying  unaudited interim combined  financial  statements of
          Huading Financial  Networks Inc. (the "Huading" or the "Company") have
          been  prepared  in  accordance  with  generally  accepted   accounting
          principles for interim financial information and with the instructions
          to Form 10-QSB and Rule 10-01 of Regulation S-X. Accordingly,  certain
          information and note  disclosures  normally  included in the financial
          statements  presented in accordance with generally accepted accounting
          principles  have been  condensed  or omitted.  The  year-end  combined
          balance sheet data was derived from audited financial statements,  but
          does not  include  all  disclosures  required  by  generally  accepted
          accounting principles.

          The Company  believes  the  disclosures  made are adequate to make the
          information presented consistent with past practices.  However,  these
          interim combined  financial  statements  should be read in conjunction
          with the combined  financial  statements and notes thereto included in
          the  Company's  annual report on Form 10-KSB for the fiscal year ended
          December 31, 2000.

          In the  opinion of the  Company,  the  accompanying  interim  combined
          financial  statements  reflect all adjustments  and  reclassifications
          (which include only normal recurring adjustments) necessary to present
          fairly the financial  position of the Company as of September 30, 2001
          and December 31, 2000, the results of its operations for the three and
          nine months ended  September 30, 2001 and 2000,  and its cash flow for
          the nine months ended September 30, 2001 and 2000. Interim results are
          not necessarily indicative of the results that may be expected for the
          full year.


2.        HISTORY, ORGANIZATION AND SHARE EXCHANGE

          Based in Shenzhen,  People's  Republic of China (PRC), the Company was
          established  as a separate,  unincorporated,  division  (the  "Huading
          Division")  of  Huading  Financial   Information   Holdings  Co.  Ltd.
          ("Huading Holdings") on November 1, 1999.

          The Huading  Division  was  established  to develop a  financial  news
          website for the PRC market.  The site provides free financial news and
          information.  Huading  Holdings and other related parties financed the
          website's development.

          In  January  2000,   Huading   Holdings  and  other  related   parties
          incorporated  Huading Financial Networks Limited ("Huading Hong Kong")
          in Hong Kong.  Huading Holdings and the other related parties received
          127,050,000 shares (75%) and certain third parties received 42,350,000
          shares (25%) for  US$500,000  in cash plus a commitment to purchase an
          additional $5 million of Huading Hong Kong stock by June 1, 2000.  The
          shares  under the  commitment  were issued and held in escrow  pending
          receipt of the $5 million.  The shares were not  purchased  by June 1,
          2000, hence, in accordance with the commitment  agreement;  the shares
          reverted back to Huading Holdings' control.

<PAGE>




                        HUADING FINANCIAL NETWORKS, INC.
           NOTES TO INTERIM COMBINED FINANCIAL STATEMENTS (UNAUDITED)


     In  February  2000,  Huading  Hong  Kong  incorporated,  as a wholly  owned
     subsidiary,   Huading  Network  Technology   (Shenzhen)  Limited  ("Huading
     Network") in the PRC. Huading Holdings  contributed the Huading  Division's
     net assets to Huading Network.

     In March 2000,  Huading  Hong Kong and all of its  shareholders  executed a
     share exchange agreement,  whereby all of the issued and outstanding shares
     of Huading Hong Kong were to be exchanged  for 10 million  shares of common
     stock of Centrock  Incorporated  ("Centrock"),  a Nevada corporation,  with
     shares quoted on the OTC Bulletin  Board,  but with no material  operations
     and  $200,000  in cash.  As  stipulated  in the share  exchange  agreement,
     Centrock  raised  $200,000  prior to the share  exchange by the issuance of
     200,000  shares of Centrock  stock at $1 a share.  In May 2000,  Centrock's
     shareholders approved the share exchange  transaction.  Simultaneously with
     their approval of the share exchange,  the Company's  shareholders approved
     the change of the  Company's  name from  Centrock  Incorporated  to Huading
     Financial Networks, Inc. In July 2000, Centrock issued 10 million shares to
     the  shareholders  of Huading  Hong Kong in  exchange  for their  shares in
     Huading Hong Kong and these shares were placed in escrow for the benefit of
     Centrock. However, certain significant actions were not completed resulting
     in a delay to the closing of the transaction.  The actions resulting in the
     delay to the closing of the share exchange  transaction included Centrock's
     failure to cancel five million  shares of its common stock and Huading Hong
     Kong's delay in delivery of its shares to Centrock.  On June 12, 2002,  the
     Company entered into an addendum to the original share exchange  agreement,
     which  stipulated  that  the  aforementioned  incomplete  actions  would be
     completed immediately. The share exchange closed on June 14, 2002.

     Although  the share  exchange  was not  closed  until  June 14,  2002,  the
     financial  statements  have  reflected  the  share  exchange  as if it  had
     occurred on the date Centrock's shareholders approved the transaction.  The
     Company's  management  believes  that  this  treatment  reflects  the  true
     substance of the transaction and the nature of the Company's operations. In
     addition,  although  the Company has not taken  possession  of Huading Hong
     Kong's stock, the Company is the legal and beneficial owner of the shares.

     As a result of the merger,  the  shareholders of Huading Hong Kong received
     the majority of the voting shares of the combined  entity.  Accordingly the
     transaction  was accounted for as a reverse  acquisition,  whereby  Huading
     Hong Kong was considered the accounting acquirer. Therefore, the historical
     financial  statements of Huading Hong Kong and Huading Network became those
     of Centrock. On this basis the financial statements include the accounts of
     Huading,  Huading  Hong Kong,  and Huading  Network as of and for the years
     ended  December 31, 2001 and 2000 and Huading  Division for the period from
     November 1, 1999 (inception) to December 31,1999.

     As  required  by the United  States  Securities  and  Exchange  Commission,
     Regulation S-B, the financial  statements include the operations of Huading
     Division as if it was a separate legal entity for the period ended December
     31, 1999.
<PAGE>
                        HUADING FINANCIAL NETWORKS, INC.
           NOTES TO INTERIM COMBINED FINANCIAL STATEMENTS (UNAUDITED)

3.   DESCRIPTION OF BUSINESS, LIQUIDITY, AND SUBSEQUENT EVENT

     Currently the Company provides free financial news and information to users
     of chinahd.com, the Company's Chinese language website. The website's users
     principally  reside in the PRC. The  Company's  revenue model calls for the
     sale of website  advertising.

     The  Company  has  incurred  significant  operating  losses and has neither
     earned revenue nor received cash from  operations  since its inception.  In
     addition, as of December 31, 2001, the Company has negative working capital
     of $2.3 million.  These factors raise  substantial doubt about the Company'
     ability to continue as a going concern.  The combined financial  statements
     do not contain any  adjustment  that might  result from the outcome of this
     uncertainty.

     Currently the Company's  operations are funded  primarily  through advances
     from related companies.  The Company's revised business model calls for the
     Company  to  earn  revenues  from  traditional  forms  of  media,  such  as
     television programs.  Specifically in June 2002 and as amended in September
     2002,  Huading  Network  entered  into a  Comprehensive  Service  Agreement
     ("CSA")  with  Shenzhen  Huading  Financial  TV &  Broadcasting  Co.,  Ltd.
     ("Huading  TV"),  a  related  company  incorporated  in the  PRC,  for  the
     provision of television  related  services.  The Company's revised business
     model has yet to be put into operation and there can be no assurances  that
     the plan will prove  successful.  In  addition,  the Company is required to
     obtain $5 million in registered capital for Huading Network.  As stipulated
     in the CSA,  Huading TV would be allowed  to  terminate  the CSA if Huading
     Network's  business  license is  revoked  due to the  Company's  failure to
     inject the registered  capital and Huading  Network fails to assign the CSA
     to another  wholly  owned  foreign  entity of the Company in the PRC.  Also
     under the CSA, Huading TV could terminate the agreement if the Company does
     not raise at least $1 million by December 31, 2002. The  termination of the
     CSA could adversely impact the Company's  ability to earn revenues from the
     television business.

     As a result of the share exchange, the Company is required to pay Hong Kong
     stamp duty. The Company  anticipates  paying the stamp duty by December 31,
     2002.  While the Company  anticipates  the amount of the stamp duty will be
     substantially  less,  it is  possible  that  the  duty  could be as high as
     $1,237,500.

     The  Company  has  initiated  cost  cutting  measures  and is also  seeking
     additional  funding  through equity  financing.  There can be no assurances
     that such additional funding will be available to the Company.

     In February 2002, the Company entered into an agreement with SBI E2 Capital
     (USA),  Inc. ("SBI") for a private  placement in the Company's common stock
     not to exceed US$3.5 million. Among other provisions, the agreement engages
     SBI  as  the  Company's  financial  advisor  for  one  year.  There  are no
     assurances that the private placement will be successful.


<PAGE>


Item 2.  Management's Discussion And Analysis Or Plan Of Operation

Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private
Securities Litigation Reform Act of 1995. The following Management's  Discussion
and Analysis or Plan of Operations  should be read in conjunction with the Notes
to the Interim Combined Financial Statements included in Part I, Item 1, of this
report. All statements,  other than historical facts,  included in the following
discussion  regarding our financial  position,  business strategy,  and plans of
management  for  future  operations  are  "forward-looking   statements."  These
statements are based on management's beliefs and assumptions, and on information
currently available to management.  Forward looking statements include,  but are
not  limited  to,  statements  in which  words such as  "expect",  "anticipate",
"intend", "plan", "believe", "estimate",  "consider", or similar expressions are
used. Forward-looking statements are not guarantees of future performance.  They
involve risks,  uncertainties,  and  assumptions,  including the risks discussed
below.

The "Risk  Factors" in our Form 10-KSB Annual Report for the year ended December
31,  2000  are  incorporated  herein  by  reference.   Our  actual  results  and
stockholder  values may differ materially from those anticipated or expressed in
these forward-looking  statements. Many of the factors that will determine these
results and values are beyond our ability to control or predict. Readers of this
report are cautioned not to put undue reliance on any forward-looking statement.
We undertake no obligation to publicly update these forward-looking  statements,
whether as a result of new information, future events or otherwise.

As used in this report,  the terms "we," "us," "our" and "Huading"  mean Huading
Financial  Networks,  Inc., our subsidiaries  Huading  Financial Network Limited
("Huading Hong Kong"),  Huading Network Technology  (Shenzhen) Limited ("Huading
Network"),  and our affiliate Shenzhen Huading Financial TV and Broadcasting Co.
Ltd. ("Huading TV"), unless otherwise indicated.  References to "China" or "PRC"
refer to the People's Republic of China and do not include the Hong Kong Special
Administrative Region, the Macau Special Administrative Region or Taiwan.

Plan of Operations

     Based in  Shenzhen,  PRC, we were founded in 1999 as a division of Shenzhen
Huading  Financial  Information  Holdings Co.,  Ltd., or Huading  Holdings.  The
division  was  created  for the  purpose  of  developing  a  financial  news and
information website for the PRC. In February 2000, Huading Holdings  contributed
our assets to Huading  Network,  which soon after became a subsidiary of Huading
Hong Kong. In March 2000, Huading Hong Kong and all of its shareholders executed
a share exchange  agreement whereby all of the issued and outstanding  shares of
Huading Hong Kong were to be exchanged for 10 million  shares of common stock of
Centrock  Incorporated,  a Nevada  corporation,  with  shares  quoted on the OTC
Bulletin Board but with no material operations.  Although in July 2000, Centrock
issued the 10 million  shares and the  shareholders  of Huading Hong Kong placed
their shares in escrow for the benefit of Centrock,  certain  important  actions
were never completed resulting in a delay to the closing of the transaction.  An
addendum  to the share  exchange  agreement  was signed on June 12, 2002 and the
share exchange closed on June 14, 2002.  Pursuant to the addendum,  we agreed to
pay the stamp duty  associated  with the  exchange  of  Centrock  shares for the
shares of Huading  Hong Kong.  The Hong Kong stamp duty rate  varies and changes
from year to year as  determined  by the Hong Kong  authorities.  The stamp duty
must be paid to the Hong Kong Inland  Revenue  Department  and, as of June 2002,
was equal to 0.1% of the amount of the  consideration  received  for the Huading
Hong Kong shares,  the 10 million shares of Centrock.  We believe the stamp duty
to be approximately  $800 based on the Huading Hong Kong's net assets as of June
2002.  However,  no  assurance  can be given that the Hong Kong  Inland  Revenue
Department  will  share  our view and  could  deem the  share  exchange  to have
occurred at an earlier date. In that event, the

<PAGE>

stamp duty could be based on the trading  price of  Centrock  shares on the date
the transaction was deemed completed and at the then applicable stamp duty rate.
Further,  a late  penalty of up to 10 times the stamp duty may be  assessed  for
late  stamping.  For example,  if the taxing  authorities  were to determine the
value of the consideration  based on the trading price of Centrock shares on May
16, 2000,  the stamp duty and penalty  could amount to over $1.238  million.  We
believe that if the Hong Kong stamp duty  authorities  deem the  transaction  to
have occurred at an earlier date,  that the maximum penalty of 10 times the duty
would not be  assessed.  However,  at this  time,  we are  unable to  reasonably
estimate the amount of duty we will eventually pay. We anticipate that the stamp
duty will be paid and the  shares of  Huading  Hong Kong will be  released  from
escrow prior to December 31, 2002.

     The share  exchange  resulted in Huading Hong Kong becoming a subsidiary of
Centrock and was accounted for as a reverse acquisition,  with Huading Hong Kong
considered the  accounting  acquirer.  As a result,  the business and historical
financial  statements of Huading Hong Kong and Huading  Network  became those of
Centrock and we changed our name from Centrock Incorporated to Huading Financial
Networks, Inc. to reflect our current business.

     We are currently  undergoing  several changes to our business.  Our revenue
model for our Internet business calls for website advertisement.  However, as of
the year  ended  December  31,  2001,  we have not  generated  revenue  from our
Internet operations.

     In May 2002, we revised our business model to generate  advertising revenue
from  traditional  sources  of media.  As part of our  revised  business  model,
Huading Network entered into a comprehensive  service agreement with Huading TV.
Under the terms of the service  agreement we provide  Huading TV with  ancillary
services  to  the  production  of  television  programming  such  as  production
facilities, equipments, support staff, technical service and software. In return
for our services, we will receive service fees equal to our costs for performing
such  services  and  royalty  payments  equal  to 80% of  the  earnings,  before
interest,  tax,  depreciation  and  amortization  (EBITDA),  applying  U.S. GAAP
accounting  standards,  of Huading TV. We believe that we will generate revenues
by the end of fiscal  year 2002.  Our ability to  generate  revenues  under this
agreement will depend on our success in marketing these  television  programs to
local television stations,  in providing them to additional television stations,
and in our ability to generate advertising  revenues from these programs.  Since
this is a new area of  business  activity  for us, we are not able to provide an
accurate  forecast of the revenues  that may be generated in 2002 or beyond,  or
what the composition of these revenues will be.

     We plan to continue our operations by utilizing the revenues generated from
the television  business pursuant to our service agreement.  In addition,  under
the terms of the  service  agreement  with  Huading  TV,  we plan to expand  our
television programs by adding additional television shows. The service agreement
requires that we raise $1 million  through  equity or debt financing by December
31, 2002. Any additional  equity financing may be dilutive to our  stockholders,
and debt financing, if available, may involve restrictive covenants with respect
to dividends  raising capital and other  financial and operational  matters that
could  restrict our  operations or finances.  In the event that we are unable to
raise the required financing,  the service agreement may be terminated by either
party upon sixty days notice.  If the service  agreement is  terminated we would
lose  our  sole  source  of  revenue,  and  without  an  alternative  source  of
significant revenue our business and financial condition would be materially and
adversely affected.


<PAGE>

     Our  operations to date have been funded by loans received from a number of
related  parties.  We expect further funds to be made available as required over
the next twelve  months to allow us to continue to meet our  operating  and cash
requirements.  The  loans  that we have  received  to date do not have any fixed
repayment  terms.  In the event that further funds are not made available and we
are unable to raise adequate financing through the sale of our stock or issue of
debt, there will be a material adverse impact on our business and our ability to
expand our television program business.

     In the event that we are able to raise  financing  through  the sale of our
stock or  convertible  debentures  during the next twelve  months then we expect
that the  existing  loans that have been  received  from  related  companies  or
related parties will be restructured with fixed interest and repayment terms, or
converted  into stock,  or convertible  debentures.  Depending on the outcome of
negotiations  with  these  lenders  this may lead to  dilution  of the  existing
stockholders, or restrictive covenants that could restrict our finances.

     The  television  business  is a  mature  business  and no  further  work is
currently planned for the further  development of our Chinahd.com  website. As a
result we do not expect there to be any  significant  investment in research and
development over the coming twelve months.

     The staff employed in the development  maintenance and marketing of our web
site has been reduced from 80 as of September  2001 to 45 by the end of December
31,  2001.  This  number has been  further  reduced to 7 by the end of April 30,
2002.  We do not expect  there to be any  significant  increase in the number of
full time  employees  engaged in this part of the  business  in the next  twelve
months.

     In June 2000 we completed our move to newly  refurbished  office  premises.
This office is adequate for our current operations. As a result we do not expect
there to be any significant  investment in fixed assets,  leasehold improvements
or fixtures and fittings in the next twelve months.

Result of Operations

     We derived no revenues from our operations for the  three-months  ended and
nine  months  ended  September  30, 2001 and 2000.  We  incurred  administrative
expense of $272,545 and  $853,105 for the three and nine months ended  September
30,  2001 as compared to  $375,969  and  $959,462  for the three and nine months
ended  September 30, 2000.  Primarily most of these expenses  relate to salaries
and employee  related costs,  office rent,  depreciation,  and  professional and
marketing fees.

Liquidity And Capital Resources

     As of  December  31,  2001 and 2000,  we had  negative  working  capital of
approximately $2,330,081 and $1,211,998 respectively.  We have not generated any
revenues since our inception.  Historically,  we have funded our operations from
the sale of our common stock and advances  from related  parties.  The following
table shows the amount of loans received from related parties as of December 31,
1999, 2000 and 2001:

<PAGE>
<TABLE>
<CAPTION>
<S>                                                                        <C>             <C>           <C>

                                                                                       Total Advances

Related Parties
                                                                        12/31/2001     12/31/2000     12/31/1999
Shenzhen Huading Financial Information Holdings Co., Ltd.                 $785,410       $769,752       $137,894
Shenzhen Huading Financial TV and Broadcasting Co., Ltd.                  $310,597       $286,943          Nil
Huading Market Information Co. Ltd.                                       $102,841          Nil            Nil
Mr. Yeung Ning                                                            $163,351        $60,501          Nil
Shenzhen Golden Harvestment Co., Ltd.                                     $828,856        $96,801          Nil
</TABLE>


     The loans from the related  parties  are all  unsecured  and without  fixed
repayment  terms.  They also  carry  various  interest  rates  from 0.0% to 10%.
However,  no  assurances  can be made that the related  parties will continue to
make advances to fund our operations.

     In addition, in March 2000, we raised approximately  $200,000 from the sale
of 200,000  shares of our common stock to one foreign  investor and Huading Hong
Kong raised an additional  $500,000  from two  investors for 8,470,000  ordinary
shares of Huading Hong Kong which was subsequently  exchanged for 500,000 shares
of our common stock.

     Net cash used in operating activities totaled $59,012 during the year ended
December 31, 2001 and $127,967 during the year ended December 31, 2000. Net cash
used during the years ended December 31, 2001 and 2000 primarily  related to our
net losses from operating activities of $1,214,295 and $1,443,983, respectively.
The net  losses  during  fiscal  years  2001 and 2000 were  primarily  offset by
related party loans of $977,058 and $1,076,103, respectively.

     We will  require  additional  working  capital to fund our  operations.  In
addition,  under the terms of the service  agreement with Huading TV, we plan to
expand our  television  programs by adding  additional  television  shows.  As a
result,  we are required to raise $1 million through equity or debt financing by
December  31,  2002.  Any  additional  equity  financing  may be dilutive to our
stockholders,   and  debt  financing,  if  available,  may  involve  restrictive
covenants  with respect to dividends  raising  capital and other  financial  and
operational matters that could restrict our operations or finances. In the event
that we are unable to raise the required financing, the service agreement may be
terminated by either party upon sixty days notice.  If the service  agreement is
terminated we would lose our sole source of revenue,  and without an alternative
source of  significant  revenue our business and  financial  condition  would be
materially  and  adversely  affected.  We have engaged an  investment  banker to
assist in raising  additional capital for our operation.  However,  no assurance
can be given that we will be successful in raising the necessary capital for our
operations. In the event that we are unable to obtain adequate financing,  there
will  be a  material  adverse  effect  on our  abilities  to meet  our  business
objectives.

                           PART II. OTHER INFORMATION

Item 1.  Legal Proceedings

None.

Item 2.  Changes In Securities

None.
<PAGE>

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

              99.1     Certification of the President
              99.2     Certification of the Chief Financial Officer

         (b)  Reports on Form 8-K

              None.




<PAGE>


                                   SIGNATURES

     In accordance with the requirements of the Securities Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                            Huading Financial Networks, Inc.
                                                     (Registrant)


Date:  October 1, 2002                      /s/ Li Shuzhong
                                            ___________________________________
                                            Li Shuzhong, President



Date:  October 1, 2002                      /s/ Li Haidong
                                            ___________________________________
                                            Li Haidong, Chief Financial Officer

<PAGE>


                                                                    EXHIBIT 99.1

                                  CERTIFICATION


         I,  Li  Shuzhong,  President  of  Huading  Financial   Networks,   Inc.
(the "Company"), certify that:

         1.  I have reviewed the Company's quarterly report on Form  10-QSB  for
the period-ended September 30, 2001 ("Report");

         2.  Based on my knowledge,  the  Report  does  not  contain  any untrue
statement of a material fact or omit to state a material fact necessary  to make
the statements made, in light of the circumstances under which  such  statements
were made, not misleading with respect to the period covered by the Report;  and

         3.  Based  on  my  knowledge,  the  financial  statements,  and   other
financial  information  included  in  the Report, fairly present in all material
respects the financial condition, results of operations and cash  flows  of  the
Company as of, and for, the periods presented in the Report.


Date:  October 1, 2002                        /s/ Li Shuzhong
                                              ----------------------------------
                                              Li Shuzhong, President



<PAGE>


                                                                    EXHIBIT 99.2

                                  CERTIFICATION


         I, Li Haidong,  Chief  Financial Officer of Huading Financial Networks,
Inc. (the "Company"), certify that:

         1.  I have reviewed the Company's quarterly report  on  Form 10-QSB for
the period-ended September 30, 2001 ("Report");

         2.  Based on my knowledge,  the  Report  does  not  contain  any untrue
statement of a material fact or omit to state a material fact necessary to  make
the statements made, in light of the circumstances under which  such  statements
were made, not misleading with respect to the period covered by the Report;  and

         3.  Based  on  my  knowledge,  the  financial  statements,  and   other
financial information included in the Report,  fairly  present  in  all material
respects the financial condition, results of operations  and  cash  flows of the
Company as of, and for, the periods presented in the Report.


Date:  October 1, 2002                       /s/ Li Haidong
                                             -----------------------------------
                                             Li Haidong, Chief Financial Officer