UNITED STATES 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  June  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: 0-25963

                              AGROCAN CORPORATION
           -----------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

               Delaware
     ----------------------------                          ----------------
   (State or other jurisdiction of                        (I.R.S.  Employer
   incorporation or organization)                         Identification Number)

         Suite 706, Dominion Centre, 43-59 Queen's Road East, Hong Kong
             ------------------------------------------------------
                    (Address of principal executive offices)

                                011-852-2519-3933
                           --------------------------
                          (Issuer's telephone number)

                                 Not applicable
              ---------------------------------------------------
   (Former name, former address and former fiscal year, if changed since last
                                    report.)

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 [ ]
As of June 30, 2001, the Company had 2,464,970 shares of common stock issued and
outstanding.  Transitional  Small  Business  Disclosure  Format:  Yes [ ] No [X]
Documents  incorporated  by  reference:  None.


<PAGE>
                              AGROCAN  CORPORATION

                                      INDEX


PART  I.   FINANCIAL  INFORMATION

     Item  1.  Financial  Statements

          Consolidated  Balance Sheets (Unaudited) - June 30, 2001 and September
          30,  2000

          Consolidated  Statements of Operations and Comprehensive Income
          (Unaudited)  -  Three  Months  and Nine Months Ended June 30, 2001 and
          2000

          Consolidated  Statements of Cash Flows (Unaudited) - Nine Months Ended
          June  30,  2001  and  2000

          Notes  to  Consolidated Financial Statements (Unaudited) - Nine Months
          Ended  June  30,  2001  and  2000

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

PART  II.  OTHER  INFORMATION

     Item  2.  Changes  in  Securities  and  Use  of  Proceeds

     Item  6.  Exhibits  and  Reports  on  Form  8-K

SIGNATURES


<PAGE>
<TABLE>
<CAPTION>
                              AGROCAN CORPORATION
                    CONSOLIDATED BALANCE SHEETS (UNAUDITED)

                                                                        JUNE 30,                     SEPTEMBER 30,
                                                                          2001            2001           2000
                                                                           USD             RMB            RMB
                                                                       ------------------------------------------
<S>                                                                    <C>           <C>             <C>
ASSETS
CURRENT ASSETS
  Cash and cash equivalents                                            $    46,386         385,002     4,616,686
  Accounts receivable                                                    1,702,675      14,132,207    38,030,840
  Other receivables and prepayments                                        482,053       4,001,045       480,688
  Inventories                                                              434,451       3,605,941     2,787,401
  Deposits                                                               1,020,160       8,467,324       434,521
  Amounts due from related parties                                       1,517,119      12,592,087     3,748,850
                                                                       ------------------------------------------

  TOTAL CURRENT ASSETS                                                   5,202,844      43,183,606    50,098,986

PROPERTY, PLANT AND EQUIPMENT - NET                                        777,995       6,457,355     6,297,254
DEFERRED COSTS                                                                   -               -       359,507
                                                                       ------------------------------------------

  TOTAL ASSETS                                                         $ 5,980,839      49,640,961    56,755,747
                                                                       ==========================================

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
  Short-term bank loans                                                $ 1,204,819      10,000,000             -
  Short-term loans-unsecured                                               410,869       3,410,212     3,980,212
  Accounts payable                                                         121,900       1,011,766    21,159,642
  Other payables and accruals                                              617,044       5,121,466     1,409,816
  Income tax payable                                                        80,567         668,703       847,324
  Deposits received                                                         78,974         655,482     1,481,629
  Amounts due to related parties                                           499,165       4,143,072     3,663,101
                                                                       ------------------------------------------

  TOTAL CURRENT LIABILITIES                                              3,013,338      25,010,701    32,541,724

MINORITY INTEREST                                                          135,887       1,127,861     1,129,531

SHAREHOLDERS' EQUITY
  Preferred stock, par value US$0.0001 per share,
          authorized 10,000,000 shares; none issued
  Common stock, par value US$0.0001 per share,
          authorized 25,000,000 shares; issued and
          outstanding 2,464,970 shares at June 30, 2001                        246           2,042         1,934
  Capital in excess of par value                                         1,358,372      11,274,491    11,274,599
  Retained earnings
          Unappropriated                                                 1,411,605      11,716,325    11,324,705
          Appropriated                                                      56,049         465,204       465,204
  Other comprehensive income                                                 5,342          44,337        18,050
                                                                       ------------------------------------------

  TOTAL SHAREHOLDERS' EQUITY                                             2,831,614      23,502,399    23,084,492
                                                                       ------------------------------------------

  TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                           $ 5,980,839      49,640,961    56,755,747
                                                                       ==========================================
</TABLE>

See notes to consolidated financial statements.


<PAGE>
<TABLE>
<CAPTION>
                              AGROCAN CORPORATION
                    CONSOLIDATED STATEMENTS OF OPERATIONS AND
                        COMPREHENSIVE INCOME (UNAUDITED)
                    THREE MONTHS ENDED JUNE 30, 2001 AND 2000

                                                                       ------------------------------------------
                                                                           2001            2001           2000
                                                                       ------------------------------------------
                                                                           USD             RMB            RMB
<S>                                                                    <C>           <C>             <C>

NET SALES                                                              $ 1,087,595       9,027,035    14,934,984

COST OF SALES                                                              804,530       6,677,600    11,844,731
                                                                       ------------------------------------------

GROSS PROFIT                                                               283,065       2,349,435     3,090,253

ADMINSTRATIVE AND GENERAL EXPENSES                                          89,223         740,547       771,314

SELLING EXPENSES                                                            48,168         399,793       571,321
                                                                       ------------------------------------------

INCOME FROM OPERATIONS                                                     145,674       1,209,095     1,747,618

OTHER INCOME (EXPENSE)
   Interest income                                                             495           4,111         3,514
   Interest expense                                                         (2,543)        (32,630)            -
   Amortization of loan fees                                                (6,892)        (57,200)     (154,067)
                                                                       ------------------------------------------

INCOME BEFORE INCOME TAXES                                                 136,734       1,123,376     1,597,065

INCOME TAXES                                                                 7,227          59,981       380,835
                                                                       ------------------------------------------

INCOME BEFORE MINORITY INTEREST                                            129,507       1,063,395     1,216,230

MINORITY INTEREST                                                           (3,367)        (27,952)     (111,334)
                                                                       ------------------------------------------

NET INCOME                                                             $   126,140       1,035,443     1,104,896
                                                                       ------------------------------------------

OTHER COMPREHENSIVE INCOME
   Foreign currency translation adjustments                                  3,167          26,287         4,485
                                                                       ------------------------------------------

COMPREHENSIVE INCOME                                                       129,307       1,061,730     1,109,381
                                                                       ==========================================
WEIGHTED AVERAGE SHARES OUTSTANDING
   Basic                                                                 2,318,318       2,318,318     2,197,460
   Diluted                                                               2,318,318       2,318,318     2,514,175

BASIC EARNINGS PER SHARE                                               $      0.06            0.46          0.50
                                                                       ------------------------------------------

DILUTED EARNINGS PER SHARE                                             $      0.06            0.46          0.44
                                                                       ------------------------------------------
</TABLE>

See notes to consolidated financial statements.


<PAGE>
<TABLE>
<CAPTION>
                              AGROCAN CORPORATION
                    CONSOLIDATED STATEMENTS OF OPERATIONS AND
                        COMPREHENSIVE INCOME (UNAUDITED)
                    NINE MONTHS ENDED JUNE 30, 2001 AND 2000

                                                                           2001            2001           2000
                                                                       ------------------------------------------
                                                                           USD             RMB            RMB
<S>                                                                    <C>           <C>             <C>

NET SALES                                                              $ 1,883,504      15,633,080    39,535,894

COST OF SALES                                                            1,413,424      11,731,418    31,813,448
                                                                       ------------------------------------------

GROSS PROFIT                                                               470,080       3,901,662     7,722,446

ADMINSTRATIVE AND GENERAL EXPENSES                                         281,557       2,336,922     4,075,725

SELLING EXPENSES                                                            77,744         645,274     1,172,317
                                                                       ------------------------------------------

INCOME FROM OPERATIONS                                                     110,779         919,466     2,474,404

OTHER INCOME (EXPENSE)
   Interest income                                                           4,719          39,169        32,537
   Interest expense                                                         (7,755)        (64,370)            -
   Commission income                                                             -               -       251,100
   Amortization of loan fees                                               (43,314)       (359,506)     (462,210)
                                                                       ------------------------------------------

INCOME BEFORE INCOME TAXES                                                  64,429         534,759     2,295,831

INCOME TAXES                                                                17,447         144,810       505,692
                                                                       ------------------------------------------

INCOME BEFORE MINORITY INTEREST                                             46,982         389,949     1,790,139

MINORITY INTEREST                                                              201           1,670        17,474
                                                                       ------------------------------------------

NET INCOME                                                             $    47,183         391,619     1,807,613
                                                                       ------------------------------------------

OTHER COMPREHENSIVE INCOME
   Foreign currency translation adjustments                                  3,167          26,287         4,663
                                                                       ------------------------------------------

COMPREHENSIVE INCOME                                                        50,350         417,906     1,812,276
                                                                       ==========================================

WEIGHTED AVERAGE SHARES OUTSTANDING
   Basic                                                                 2,318,318       2,318,318     2,185,814
   Diluted                                                               2,318,318       2,318,318     2,502,529

BASIC EARNINGS PER SHARE                                               $      0.02            0.18          0.83
                                                                       ------------------------------------------

DILUTED EARNINGS PER SHARE                                             $      0.02            0.18          0.72
                                                                       ------------------------------------------
</TABLE>

See notes to consolidated financial statements.


<PAGE>
<TABLE>
<CAPTION>
                              AGROCAN CORPORATION
                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
                    NINE MONTHS ENDED JUNE 30, 2001 AND 2000

                                                                           2001            2001           2000
                                                                       ------------------------------------------
                                                                           USD             RMB            RMB
<S>                                                                    <C>           <C>             <C>
OPERATING ACTIVITIES
Net Income                                                             $    47,183         391,619     1,807,613
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
  Amortization of deferred costs                                            43,314         359,507       530,686
  Depreciation                                                              65,992         547,736       290,719
  Capital reserve transfer                                                       -               -        69,248
  Minority interest                                                           (201)         (1,670)      (17,474)
  (Increase) decrease in account receivable                              2,879,353      23,898,633   (21,497,879)
  Increase in other receivables, prepayments and deposits               (1,391,947)    (11,553,160)   (1,278,801)
  Increase in inventories                                                  (98,619)       (818,540)   (4,051,806)
  (Increase) decrease in amounts due from related parties               (1,065,450)     (8,843,237)    1,137,210
  Increase (decrease) in accounts payable                               (2,427,455)    (20,147,876)   13,463,879
  Decrease in income tax payable                                           (21,521)       (178,621)     (269,365)
  Increase in other payables and accruals                                  447,187       3,711,650     4,229,401
  Decrease in deposits received                                            (99,536)       (826,147)            -
  Increase in amounts due to related parties                                57,828         479,971     1,475,532
                                                                       ------------------------------------------
  Net cash used in operating activities                                 (1,563,872)    (12,980,135)   (4,111,037)
                                                                       ------------------------------------------

INVESTING ACTIVITIES
  Additions to property, plant and equipment                               (85,281)       (707,836)     (184,182)
  Additions to construction in progress                                          -               -        (8,242)
                                                                       ------------------------------------------
  Net cash used in investing activities                                    (85,281)       (707,836)     (192,424)
                                                                       ------------------------------------------

FINANCING ACTIVITIES
  Repayment of short term bank loan                                              -               -    (1,480,000)
  Repayment of short term loans - unsecured                                (68,674)       (570,000)            -
  Proceeds from issuance of common stock                                         -               -        22,412
  Proceeds from short term bank loans                                    1,204,819      10,000,000     1,780,000
                                                                       ------------------------------------------
  Net cash provided by financing activities                              1,136,145       9,430,000       322,412
                                                                       ------------------------------------------

Net decrease in cash and cash equivalents                                 (513,008)     (4,257,971)   (3,981,049)
Cash and cash equivalents, beginning                                       556,227       4,616,686     5,027,798
Effect of exchange rate changes on cash                                      3,167          26,287         4,663
                                                                       ------------------------------------------

Cash and cash equivalents, ending                                      $    46,386         385,002     1,051,412
                                                                       ==========================================
</TABLE>

See notes to consolidated financial statements.


<PAGE>
AGROCAN  CORPORATION
NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
NINE  MONTHS  ENDED  JUNE  30,  2001  AND  2000
(UNAUDITED)
(EXPRESSED  IN  RENMINBI)

1.   THE  INTERIM  FINANCIAL  STATEMENTS

     The  interim financial statements have been prepared by AgroCan Corporation
     and  in  the  opinion of management, reflect all material adjustments which
     are  necessary  to  a  fair  statement  of  results for the interim periods
     presented,  including normal recurring adjustments. Certain information and
     footnote  disclosures  made  in the most recent annual financial statements
     included  in  the  Company's  Form  10-KSB for the year ended September 30,
     2000,  have been condensed or omitted for the interim statements. It is the
     Company's opinion that, when the interim statements are read in conjunction
     with  the  September  30,  2000  financial  statements, the disclosures are
     adequate  to  make the information presented not misleading. The results of
     operations  for  the  nine  months  ended  June  30,  2001 and 2000 are not
     necessarily  indicative  of the operating results for the full fiscal year.

     The  preparation  of  financial  statements  in  conformity  with generally
     accepted  accounting  principles  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  amount of revenues and expenses during the
     reporting  periods.  Management  makes  these  estimates  using  the  best
     information  available  at the time the estimates are made; however, actual
     results  could  differ  materially  from  those  results.


2.   INVENTORIES

     Inventories  at  June  30, 2001 and September 30, 2000 are comprised of the
     following:

                        JUNE 30, 2001     SEPTEMBER 30, 2000

                        USD       RMB            RMB
     RAW MATERIALS   $230,470  1,912,902           2,238,353
     FINISHED GOODS   203,981  1,693,039             549,048
                     --------  ---------  ------------------
                     $434,451  3,605,941           2,787,401
                     ========  =========  ==================


3.   SHORT-TERM  BANK  LOANS

     During  the  nine  months  ended  June  30,  2001,  three  of the Company's
     subsidiaries arranged  short-term  bank  loans in the total  amount  of RMB
     10,000,000  to  fund  operations.  One  of  the  loans in the amount of RMB
     1,000,000,  is  due  on  August  19,  2001 and bears interest at 6.3375%. A


<PAGE>
     second loan for RMB 1,000,000 is due on June 19, 2002 and bears interest at
     5.3625%.  A  third loan for RMB 5,000,000, bears interest at 6.138% and was
     due  on  July  15, 2001. A fourth loan for RMB 3,000,000, bears interest at
     6.138%  and  is  due  on September 29, 2001. Subsequent to the three months
     ended  June  30,  2001,  the  first  and  third  loans  were  repaid.

4.   INCOME  TAXES

     During  the  nine  months  ended  June 30, 2001, the Company's subsidiaries
     incurred  income  taxes  of  RMB  144,810. The Company is subject to income
     taxes  on  an  entity  basis  on  income arising in or derived from the tax
     jurisdiction  in  which  each  entity  is  domiciled. The Company's British
     Virgin  Islands subsidiary is not liable for income taxes. As manufacturing
     companies,  the  Company's PRC subsidiaries operate in special zones, which
     entitles  them  to  a  reduced  national  income taxes rate of 24%, and the
     subsidiaries  are  exempt  from  local income tax. Further, pursuant to the
     approval  of  the  relevant PRC tax authorities, the subsidiaries are fully
     exempted from PRC income taxes for two years starting from the date profits
     are first recognized, followed by a 50% exemption for the next three years.


5.   EARNINGS  PER  SHARE

     Basic  earnings per share is based on the weighted average shares of common
     stock  outstanding.  Diluted  earnings  per  share  assumes the conversion,
     exercise  or  issuance  of  all  potential common stock instruments such as
     options,  warrants  and  convertible  securities,  unless  the effect is to
     reduce  loss  per  share  or  increase  earnings  per  share.


6.   RELATED  PARTY  TRANSACTIONS

     The  Company had made a loan of RMB 9,085,790 to an affiliated entity owned
     by two of the Company's directors. The loan is non-interest bearing, and is
     due  on  demand.


7.   DEPOSITS

     One  of  the  Company's  subsidiaries  had  made refundable deposits of RMB
     8,000,000 to its major supplier for purchasing raw material in anticipation
     of  the  next planting season. The raw material is expected to be delivered
     to the subsidiary by the end of September 2001.


<PAGE>
ITEM  2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATION

Cautionary  Statement  Pursuant  to  Safe  Harbor  Provisions  of  the  Private
Securities  Litigation  Reform  Act  of  1995:

This  Quarterly  Report  on  Form 10-QSB for the quarterly period ended June 30,
2001  contains  "forward-looking"  statements  within the meaning of the Federal
securities  laws.  These  forward-looking  statements  include,  among  others,
statements  concerning  the Company's expectations regarding sales trends, gross
and  net  operating  margin  trends,  political  and  economic  matters,  the
availability  of  equity capital to fund the Company's capital requirements, and
other  statements  of  expectations,  beliefs,  future  plans  and  strategies,
anticipated  events  or  trends, and similar expressions concerning matters that
are  not  historical  facts.  The  forward-looking  statements in this Quarterly
Report  on  Form 10-QSB for the quarterly period ended June 30, 2001 are subject
to  risks and uncertainties that could cause actual results to differ materially
from  those  results expressed in or implied by the statements contained herein.

Overview:

AgroCan  Corporation (the "Company") was incorporated on December 8, 1997 in the
State  of  Delaware.  Effective  December 31, 1997, the Company issued 1,598,646
shares  of  common stock, which represented all of the capital stock outstanding
at  the  completion  of this transaction, to the shareholders of AgroCan (China)
Inc.,  a corporation incorporated in the British Virgin Islands, in exchange for
all  of  the  capital  stock  of  AgroCan  (China) Inc. As of December 31, 1997,
AgroCan  (China) Inc. owned interests in three subsidiaries or joint ventures as
follows: Jiangxi Jiali Chemical Industry Company Limited (100%), Jiangxi Fenglin
Chemical  Industry  Company Limited (70%), and Guangxi Linmao Fertilizer Company
Limited  (100%),  all  of  which  were located in the People's Republic of China
("China"  or  the  "PRC").  Prior  to  this  transaction,  the  Company  had  no
significant operations. This transaction was accounted for as a recapitalization
of  AgroCan  (China)  Inc., as the shareholders of AgroCan (China) Inc. acquired
all  of  the capital stock of the Company in a reverse acquisition. Accordingly,
the  assets  and  liabilities  of  AgroCan  (China)  Inc.  have been recorded at
historical  cost, and the shares of common stock issued by the Company have been
reflected  in the consolidated financial statements giving retroactive effect as
if  the  Company  had  been  the  parent  company from inception. The historical
consolidated  financial  statements consist of the combined financial statements
of  AgroCan (China) Inc. and its subsidiaries from the dates of their respective
formation  or  acquisition  for  all  periods presented. All share and per share
amounts  presented  herein  have  been adjusted to reflect the two for one stock
split  effective  February  6,  1998.

AgroCan  (China)  Inc.  was  established  in  1996  to develop, produce and sell
fertilizers  and  other  products  and  technologies to enhance the agricultural
output  of  China.  The Company produces various compound fertilizers, which are
the  end product made from the combination of three primary nutrients, nitrogen,
phosphate  and potassium, mixed together with other elements such as iron, zinc,
copper and manganese. These ingredients are blended in different proportions and
packed  into  50-kilogram bags. The Company designs its compound fertilizers for
specific  climate,  soil  and  crop  requirements  of each individual geographic


<PAGE>
market.  As  of  June 30, 2001, the Company had established an annual production
capacity of 125,000 metric tons for compound fertilizers in Guangxi and Jiangxi,
two  of  the largest agricultural provinces in China, and the Company intends to
enter  markets  in  other  provinces  in  China.

Effective  October  8,  1996,  AgroCan (China) Inc. entered into a joint venture
agreement  with Nanchang Organic Fertilizer Factory, a state-owned enterprise in
the  PRC,  for the establishment of a Sino-Foreign Equity Joint Venture, Jiangxi
Fenglin  Chemical  Industry Company Limited ("Jiangxi Fenglin"). In exchange for
capital  contributions  to  Jiangxi  Fenglin  aggregating  RMB 2,090,642 through
September  30,  1998, AgroCan (China) Inc. received a 70% equity interest in the
joint  venture.  Jiangxi  Fenglin commenced operations on November 28, 1996, and
became  fully  operational  during the fiscal year ended September 30, 1998. The
Company  accounts  for  its  interest  in  the  joint  venture  similar  to  a
majority-owned  subsidiary  because of its 70% interest, its contractual ability
to  appoint  four  out  of six directors to the Board of Directors, which is the
highest  authority for the joint venture, and the Company's right to appoint the
Chairman  of  the  Board. The Company recognizes that joint venture interests in
the  PRC are generally not consolidated in the financial statements of companies
that  report  under  the  periodic  reporting  requirements of the United States
Securities and Exchange Commission due to the rights asserted by the PRC partner
under  customary joint venture agreements. However, in view of the above factors
specific  to  the  Company,  management  believes  that  it  is  appropriate  to
consolidate  the  joint  venture's  operations  into  the Company's consolidated
financial  statements.

AgroCan  (China)  Inc. also owns 100% of Jiangxi Jiali Chemical Industry Company
Limited  ("Jiangxi  Jiali").

The consolidated financial statements of the Company include the accounts of the
Company  and  its  wholly-owned  and  majority-owned  subsidiaries. All material
intercompany  balances  and  transactions  are  eliminated at consolidation. The
consolidated  financial  statements  have  been  prepared  in  accordance  with
generally  accepted  accounting  principles  in  the United States and have been
presented  in Chinese Renminbi ("RMB"). The functional currency of the Company's
PRC  operations  is  the RMB. The accounts of foreign operations are prepared in
their  local  currency  and are translated into RMB using the applicable rate of
exchange.  The  resulting  transaction adjustments are included in comprehensive
income  (loss).  Transactions  denominated  in currencies other than the RMB are
translated  into  RMB  at  the  applicable  exchange  rates. Monetary assets and
liabilities  denominated  in  other  currencies  are  translated into RMB at the
applicable  rate  of  exchange at the balance sheet date. The resulting exchange
gains  or  losses  are  credited  or  charged  to the consolidated statements of
operations.


<PAGE>
Consolidated  Results  of  Operations:

Three  Months  Ended  June  30,  2001  and  2000:

Sales.     The sales for the three months ended June 30, 2001 were RMB 9,027,035
as compared to sales of RMB 14,934,984 for the three months ended June 30, 2000,
a  decrease of RMB 5,907,949 or 39.6%. The decrease in sales in 2001 as compared
to  2000  was  due  to the bad weather and serious flooding that occurred in the
Guangxi  Province  resulting  in the cessation of almost all planting activities
during June. Since it is  close  to the end of the  planting  season, management
believes that it is unlikely that  prior  year  sales level  will  be  achieved.

Gross  Profit.     Gross profit for the three months ended June 30, 2001 was RMB
2,349,435  or 26% of revenues, as compared to RMB 3,090,253 or 20.7% of revenues
for  the  three months ended June 30, 2000. The gross profit margin increased in
2001  as compared to 2000 as a result of the Company raising its prices to focus
on higher-margin customers, although total gross profit decreased as a result of
the  decline  in  revenues.

Administrative and General Expenses.     Administrative and general expenses for
the  three  months  ended June 30, 2001 were RMB 740,547 or 8.2% of revenues, as
compared  to RMB 771,314 or 5.2% of revenues for the three months ended June 30,
2000,  a  decrease  of  RMB  30,767.  In  view of the reduced level of sales and
production during the quarter ended June 30, 2001, management was able to reduce
administrative  and  general  expenses, primarily in discretionary wages, travel
and  office  expenses.

Selling  Expenses.     Selling expenses for the three months ended June 30, 2001
were  RMB  399,793  or  4.4%  of revenues, as compared to RMB 571,321 or 3.8% of
revenues  for  the  three months ended June 30, 2000, a decrease of RMB 171,528.
Selling  expenses  decreased  in  2001  as  compared  to  2000  as a result of a
reduction  in  sales  arising  as  a  result  of the bad weather and the serious
flooding  in  Guangxi  Province.

Income  from  Operations.     Income  from  operations was RMB 1,209,095 for the
three  months  ended  June 30, 2001, as compared to an income from operations of
RMB  1,747,618  for  the  three  months  ended  June  30,  2000.

Other  Income  (Expense).     The  Company recorded amortization of loan fees of
RMB  57,200  and  RMB 154,067 for the three months ended June 30, 2001 and 2000,
respectively.

Interest  Expense.     Interest expense for the three months ended June 30, 2001
was  RMB  32,630  or  0.4%  of  revenues.  The  company,  through  one  of  its
subsidiaries,  borrowed RMB 1,000,000 under short-term loans bearing interest at
6.3375%  in  November  2000, and through other subsidiary borrowed RMB 1,000,000
under  short-term  loans bearing interest at 5.3625% in March 2001.  The Company
also  through  another  subsidiary borrowed RMB 8,000,000 under short-term loans
bearing  interest  at  6.138%.


<PAGE>
The Company had interest income of RMB 4,111 for the three months ended June 30,
2001  and  RMB  3,514  for  the  three  months  ended  June  30,  2000.

Income Taxes.          The Company recognized income taxes of RMB 59,981 and RMB
380,835  for  the  three  months ended June 30, 2001 and 2000, respectively. The
Company  is  subject  to income taxes on an entity basis on income arising in or
derived  from  the  tax  jurisdiction  in  which  each  entity is domiciled. The
Company's  British Virgin Islands subsidiary is not liable for income taxes. The
Company's PRC subsidiaries are subject to income taxes at an effect rate of 33%.

Minority  Interest.     For  the  three months ended June 30, 2001 and 2000, the
Company recorded a minority interest of RMB 27,952 and RMB 111,334 respectively,
to  reflect  the  interest of the Company's 30% joint venture partner in the net
income  of  Jiangxi  Fenglin.

Net  Income  / Loss.     Net income was RMB 1,035,443 for the three months ended
June 30, 2001, as compared to a net income of RMB 1,104,896 for the three months
ended  June  30,  2000.

Nine  Months  Ended  June  30,  2001  and  2000:

Sales.     Sales for the nine months ended June 30, 2001 were RMB 15,633,080, as
compared  to  sales of RMB 39,535,894 for the nine months ended June 30, 2000, a
decrease  of  RMB 23,902,814 or 60.5%. The decrease in sales in 2001 as compared
to  2000 was due to the bad weather and as a result of the serious flooding that
occurred  in  Guangxi  Province  resulting  in  the  cessation of almost all the
planting  activities  during  June. Since it is close to the end of the planting
season, management believes it is unlikely  that prior year sales level will  be
achieved.

Gross  Profit.     Gross  profit for the nine months ended June 30, 2001 was RMB
3,901,662  or 25% of sales. Gross profit for the nine months ended June 30, 2000
was  RMB  7,722,446 or 19.5% of sales. The gross profit margin increased in 2001
as  compared  to  2000 as a result of the Company raising its prices to focus on
higher-margin  customers,  although  total gross profit decreased as a result of
the  decline  in  revenue.

Administrative and General Expenses.     Administrative and general expenses for
the  nine  months  ended  June  30,  2001 were RMB 2,336,922 or 15% of sales, as
compared  to  RMB  4,075,725  or  10.3% of sales, a decrease of RMB 1,738,695 or
42.7%.  Administrative  and general expenses, in particular salaries and related
costs,  decreased in 2001 as compared to 2000 primarily as a result of decreases
in  costs  incurred  to  support  and expand business operation, including costs
related  to  travel and office expenses, as well as legal and professional fees.

Selling  Expenses.     Selling  expenses for the nine months ended June 30, 2001
were  RMB  645,274 or 4.1% of sales, as compared to RMB 1,172,317 or 3% of sales
for  the nine months ended June 30, 2000, a decrease RMB 527,043 or 45%. Selling
expenses  decreased  in  2001  as compared to 2000 as a result of a reduction in
sales.


<PAGE>
Income  (Loss)  from  Operations.     Income from operations was RMB 919,466 for
the nine months ended June 30, 2001, as compared to an income from operations of
RMB  2,474,404  for  the  nine  months  ended  June  30,  2000.

Other  Income  (Expense).     The  Company recorded amortization of loan fees of
RMB  359,506  and  RMB 462,210 for the nine months ended June 30, 2001 and 2000,
respectively.

Interest  Expense.     Interest  expense for the nine months ended June 30, 2001
was  RMB 64,370 or 0.4% of sales.  The company, through one of its subsidiaries,
borrowed  RMB  1,000,000  under  short-term loans bearing interest at 6.3375% in
November  2000,  and  through  other  subsidiary  borrowed  RMB  1,000,000 under
short-term  loans  bearing  interest at 5.3625% in March 2001.  The Company also
through another subsidiary borrowed RMB 8,000,000 under short-term loans bearing
interest  at  6.138%.

The Company had interest income of RMB 39,169 and RMB 32,537 for the nine months
ended  June  30,  2001  and  2000,  respectively.

The  Company  did  not earn any commission income for the nine months ended June
30,  2001,  as  compared to RMB 251,100 for the nine months ended June 30, 2000.

Income  Taxes.          The  Company  recognized income taxes of RMB 144,810 and
RMB  505,692 for the nine months ended June 30, 2001 and 2000, respectively. The
Company  is  subject  to income taxes on an entity basis on income arising in or
derived  from  the  tax  jurisdiction  in  which  each  entity is domiciled. The
Company's  British Virgin Islands subsidiary is not liable for income taxes. The
Company's PRC subsidiaries are subject to income taxes at an effect rate of 33%.

Minority  Interest.     For  the  nine  months ended June 30, 2001 and 2000, the
Company  recorded  a minority interest of RMB 1,670 and RMB 17,474 respectively,
to  reflect  the  interest of the Company's 30% joint venture partner in the net
loss  of  Jiangxi  Fenglin.

Net  Income.     Net  income  was RMB 391,511 for the nine months ended June 30,
2001,  as compared to net income of RMB 1,807,613 for the nine months ended June
30,  2000.

Consolidated  Financial  Condition:

Liquidity  and  Capital  Resources  -  June  30,  2001

Operating.     For the nine months ended June 30, 2001, the Company's operations
utilized  cash  resources  of  RMB  12,980,133  as  compared  to  utilizing cash
resources  of  RMB  4,111,037  for  the  nine  months  ended  June 30, 2000. The


<PAGE>
Company's  operations  utilized  more cash resources in 2001 as compared to 2000
primarily  as  a  result  of making a total of RMB 8,000,000 in trading deposits
with  one  of  the major suppliers.  Increases in other receivables and deposits
were  financed  by a short-term loan of RMB 8,000,000 from a local bank. At June
30,  2001,  cash  and  cash  equivalents  had  decreased by RMB 4,257,969 to RMB
385,002,  as  compared  to  RMB 4,616,686 at September 30, 2000. The Company had
working  capital  of  RMB  18,172,905,  at  June  30,  2001,  as compared to RMB
17,557,262  at  September  30,  2000,  resulting in current ratios of 1.73:1 and
1.54:1  at  June  30,  2001  and  September  30,  2000,  respectively.

Accounts  receivable.          Accounts  receivable decreased by RMB 23,898,633,
to  RMB  14,132,207 at June 30, 2001, from RMB 38,030,840 at September 30, 2000.
Accounts  receivable  decreased  during the nine months ended June 30, 2001 as a
result  of  settlement  of  part  of  the  accounts  receivable.

Inventories.          Inventories  increased by RMB 818,540, to RMB 3,605,941 at
June  30,  2001,  from RMB 2,787,401 at September 30, 2000. Since the production
stopped  in  July,  inventories  increased during the nine months ended June 30,
2001  in  anticipation  of  the  rest  of  the  year.

Amount  due  from related parties.     Amount due from related parties increased
by  RMB  8,843,237,  to  RMB  12,592,087 at June 30, 2001, from RMB 3,748,850 at
September  30,  2000  as  a  result  of  making loan to an affiliated company of
approximately  RMB  9,000,000.

Investing.     During the nine months ended June 30, 2001 and 2000, additions to
property,  plant  and  equipment  aggregated  RMB  707,836  and  RMB  192,424,
respectively.

Financing.     During  the  nine  months  ended  June  30,  2001,  three  of the
Company's  subsidiaries  arranged short-term bank loans with total amount of RMB
10,000,000  to  fund  operations.  These  are  to  be repaid within one year. In
addition,  the  Company  repaid an amount of RMB 570,000 of unsecured short-term
loans.

The  Company  anticipates,  based  on  currently  proposed plans and assumptions
relating  to  its  existing  operations,  that  its  projected  cash  flows from
operations  will  be  sufficient  to support its planned operations for the next
twelve  months.  Depending on the Company's rate of growth, the Company may seek
additional  capital  in  the  future  to  support  expansion  of  operations and
acquisitions.


<PAGE>
Inflation  and  Currency  Matters:

In  recent  years, the Chinese economy has experienced periods of rapid economic
growth as well as relatively high rates of inflation, which in turn has resulted
in  the  periodic  adoption  by  the  Chinese  government  of various corrective
measures  designed  to  regulate  growth  and contain inflation. Since 1993, the
Chinese  government  has  implemented  an  economic  program designed to control
inflation,  which has resulted in the tightening of working capital available to
Chinese  business enterprises. The success of the Company depends in substantial
part  on  the  continued  growth  and  development  of  the  Chinese  economy.

Foreign  operations are subject to certain risks inherent in conducting business
abroad,  including price and currency exchange controls, and fluctuations in the
relative  value of currencies. Changes in the relative value of currencies occur
periodically  and  may,  in  certain  instances, materially affect the Company's
results  of operations. In addition, the Renminbi is not freely convertible into
foreign  currencies,  and  the ability to convert the Renminbi is subject to the
availability  of  foreign  currencies.

Effective  December  1,  1998,  all  foreign exchange transactions involving the
Renminbi  must  take  place  through authorized banks in China at the prevailing
exchange  rates quoted by the People's Bank of China. The Company expects that a
portion  of its revenues will need to be converted into other currencies to meet
foreign  exchange  currency  obligations, including the payment of any dividends
declared.

Although  the  central government of China has repeatedly indicated that it does
not  intend  to devalue its currency in the near future, recent announcements by
the  central  government  of  China  indicate  that devaluation is an increasing
possibility.  Should  the  central  government  of  China  decide to devalue the
Renminbi,  the  Company  does  not  believe  that  such  an  action would have a
detrimental  effect  on  the  Company's  operations,  since the Company conducts
virtually  all of its business in China, and the sale of its products is settled
in  Renminbi.  However,  devaluation  of  the Renminbi against the United States
dollar  would adversely affect the Company's financial performance when measured
in  United  States  dollars.

New  Accounting  Pronouncements:

In June 1998, the Financial Accounting Standards Board issued Statement No. 133,
"Accounting for Derivative Instruments and Hedging Activities" ("SFAS No. 133"),
which  is  effective  for  financial  statements  for all fiscal quarters of all
fiscal  years  beginning  after  June  15,  2000.  SFAS No. 133 standardizes the
accounting  for derivative instruments, including certain derivative instruments
embedded in other contracts, by requiring that an entity recognize those item as
assets or liabilities in the statement of financial position and measure them at
fair  value.  SFAS No. 133 also addresses the accounting for hedging activities.
The  Company  will  adopt  SFAS No. 133 for its fiscal year beginning January 1,
2001.  The  Company  does  not  expect that adoption of SFAS No. 133 will have a
material  impact  on  its  financial  statement  presentation  or  disclosures.


<PAGE>
In  December  1999,  the  staff of the Securities and Exchange Commission issued
Staff  Accounting  Bulletin  ("SAB")  No.  101, Revenue Recognition in Financial
Statements.  SAB  No.  101,  as  amended  by  SAB  No. 101A and SAB No. 101B, is
effective  no  later  than  the  fourth fiscal quarter of fiscal years beginning
after  December  15,  1999.  SAB  No. 101 provides the staff's views in applying
generally accepted accounting principles to selected revenue recognition issues.
Currently,  the  Company  believes  that  it  complies  with  the accounting and
disclosure described in SAB No. 101; therefore, management believes that SAB No.
101  will  not  impact  the  Company's  financial  statements.


<PAGE>
                           PART II. OTHER INFORMATION


ITEM  2.  CHANGES  IN  SECURITIES  AND  USE  OF  PROCEEDS

Sales  of  Equity  Securities

During the nine months ended June 30, 2001, the Company issued 130,000 shares of
common  stock.

ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

(a)  Exhibits:

(b)  Reports  on  Form  8-K:

     During the nine months ended June 30, 2001, the Company filed the following
     report  on  Form  8-K:

Form    Filing  Date         Event  Reported
----    ------------         ---------------
8-K     May 25, 2001         A report on Form 8-K (item 5), which announced the
                             Company's principal executive office was relocated.


<PAGE>
                                   SIGNATURES




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



                                             AGROCAN CORPORATION
                                             -------------------
                                                (Registrant)




Date:  August  20,  2001                  By:  /s/  LAWRENCE  HON
                                             --------------------------------
                                                Lawrence  Hon
                                                President  and  Chief
                                                Executive  Officer
                                                (Duly  Authorized
                                                Officer)




Date:  August  20,  2001                  By:  /s/  CARL  YUEN
                                             ---------------------------------
                                                Carl  Yuen
                                                Chief  Financial  Officer
                                                (Principal  Financial
                                                and  Accounting  Officer)


<PAGE>