SECURITIES
      AND EXCHANGE COMMISSION


WASHINGTON,
      D.C. 20549




FORM
      10-QSB




x QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES ACT OF
      1934





For
      the
      quarterly period ended March 31, 2007





o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES ACT OF
      1934





For
      the
      transition period from _______________ to _________________




Commission
      file number: 000-32253





HUIFENG
      BIO-PHARMACEUTICAL TECHNOLOGY, INC.


(Name
      of
      Small Business Issuer as specific in its Charter)





Nevada
            
            87-0650264(State
                or Other Jurisdiction of
              Incorporation
                or Organization)
            
            (I.R.S.
                Employer Identification No.)




16B/F
      Ruixin Road Bldg. No. 25 Gaoxin Road


Xi
      An
      710075 Shaanxi Province, China


(Address
      of Principal Executive Offices Including Zip Code)




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. x Yes o No





The
      number of shares outstanding of the registrant's common equity as of March
      31,
      2007, was 18,466,169 shares of common stock, par value $0.018.





Transitional
      Small Business Disclosure Format (Check one): o Yes x No











HUIFENG
      BIO-PHARMACEUTICAL TECHNOLOGY, INC.


AND
      SUBSIDIARIES


INDEX
      TO
      THE FORM 10-QSB


FOR
      THE
      THREE MONTHS ENDED MARCH 31, 2007





TABLE
      OF
      CONTENTS




PART
                I. FINANCIAL INFORMATIONItem
                1.
            
            Financial
                Statements
            3Unaudited
                Condensed Consolidated Balance Sheet as of March 31, 2007
            3Unaudited
                Condensed Consolidated Statements of Operations for the Three Months
                Ended
                March 31, 2007 and 2006
            4Unaudited
                Condensed Consolidated Statements of Cash Flows for the Three Months
                Ended
                March 31, 2007 and 2006
            5Notes
                to Unaudited Condensed Consolidated Financial Statements as of March
                31,
                2007
            6Item
                2.
            
            Management's
                Discussion and Analysis or Plan of Operation
            9Item
                3.
            
            Controls
                and Procedures
            12PART
                II. OTHER INFORMATIONItem
                1.
            
            Legal
                Proceedings
            12Item
                2.
            
            Unregistered
                Sales of Equity Securities and Use of Proceeds
            12Item
                3.
            
            Defaults
                Upon Series Securities
            12Item
                4.
            
            Submission
                of Matters to a Vote of Security Holders
            12Item
                5.
            
            Other
                Information
            12Item
                6:
            
            Exhibits
                and Reports on Form 8-K
            12SIGNATURES
            13








2




**PART
      I. FINANCIAL INFORMATION**




**Item
      1. Financial Statements**




HUIFENG
      BIO-PHARMACEUTICAL TECHNOLOGY, INC


AND
      SUBSIDIARIES


UNAUDITED
      CONDENSED CONSOLIDATED BALANCE SHEET


AS
      OF
      MARCH 31, 2007




**ASSETS****CURRENT
                  ASSETS**Cash
                  and cash equivalents
              
              $
              650,187Accounts
                  receivable, net of allowances
              
              
              1,069,770Inventories,
                  net
              
              
              1,319,490Notes
                  receivable
              
              
              192,949Other
                  assets
              
              
              766,216Total
                  Current Assets
              
              
              3,998,612**PROPERTY
                  AND EQUIPMENT, NET**
              
              
              3,284,484**LAND
                  USE RIGHTS, NET**
              
              
              136,107**TOTAL
                  ASSETS**
              
              $
              7,419,203**LIABILITIES
                  AND STOCKHOLDERS' EQUITY****CURRENT
                  LIABILITIES**Accounts
                  payable
              
              $
              45,787Other
                  payables and accrued expenses
              
              
              187,644Notes
                  payable
              
              
              308,718Income
                  tax and other taxes payable
              
              
              178,136Total
                  Current Liabilities
              
              
              720,285**COMMITMENTS
                  AND CONTINGENCIES**
              
              
              -**MINORITY
                  INTEREST**
              
              
              440,791**STOCKHOLDERS'
                  EQUITY**Preferred
                  stock ($0.001 par value, 5,000,000 shares authorized,None
                  issued and outstanding)
              
              
              -Common
                  stock ($0.018 par value, 100,000,000 shares
                  authorized,18,466,169
                  shares issued and outstanding as of March 31, 2007)
              
              
              332,388Additional
                  paid-in capital
              
              
              8,020,066Retained
                  earnings (deficit)Unappropriated
              
              
              (2,506,926
              )Appropriated
              
              
              82,925Accumulated
                  other comprehensive income
              
              
              329,674Total
                  Stockholders' Equity
              
              
              6,698,918**TOTAL
                  LIABILITIES AND STOCKHOLDERS' EQUITY**
              
              $
              7,419,203




The
      accompanying notes are an integral part of these financial
      statements





3





HUIFENG
      BIO-PHARMACEUTICAL TECHNOLOGY INC.


AND
      SUBSIDIARIES


UNAUDITED
      CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND


COMPREHENSIVE
      INCOME




**For
                  the Three**
                **Months
                  Ended**
                **March
                  31, 2007**
              
              **For
                  the Three**
                **Months
                  Ended**
                **March
                  31, 2006****NET
                  SALES**
              
              $
              1,397,669
              
              $
              1,103,447**COST
                  OF SALES**
              
              
              (989,818
              )
              
              (933,710
              )**GROSS
                  PROFIT**
              
              
              407,851
              
              
              169,737**OPERATING
                  EXPENSES**Selling
                  expenses and distribution expenses
              
              
              19,044
              
              
              34,631General
                  and administrative expenses
              
              
              40,997
              
              
              33,934Depreciation
                  and amortization
              
              
              11,835
              
              
              12,194Total
                  Operating Expenses
              
              
              71,876
              
              
              80,759**INCOME
                  FROM OPERATIONS**
              
              
              335,975
              
              
              88,978**OTHER
                  INCOME (EXPENSE)**Interest
                  income
              
              
              5,881
              
              
              13,114Interest
                  expense
              
              
              (9,388
              )
              
              (31
              )Other
                  income
              
              
              21,287
              
              
              18,750Total
                  Other Income
              
              
              17,780
              
              
              31,833**INCOME
                  FROM OPERATIONS BEFORE****TAXES
                  AND MINORITY INTEREST**
              
              
              353,755
              
              
              120,811**INCOME
                  TAX EXPENSE**
              
              
              (56,608
              )
              
              -**MINORITY
                  INTEREST**
              
              
              13,981
              
              
              6,487**NET
                  INCOME**
              
              
              311,128
              
              
              127,298**OTHER
                  COMPREHENSIVE INCOME**Foreign
                  currency translation gain
              
              
              26,375
              
              
              97,306**COMPREHENSIVE
                  INCOME**
              
              $
              337,503
              
              $
              224,604**Net
                  income per share - basic and diluted**
              
              $
              0.017
              
              $
              0.012Weighted
                  average number of sharesoutstanding
                  during the period - basic and diluted
              
              
              18,466,169
              
              
              10,307,400




The
      accompanying notes are an integral part of these financial
      statements





4





HUIFENG
      BIO-PHARMACEUTICAL TECHNOLOGY INC.


AND
      SUBSIDIARIES


UNAUDITED
      CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS





**For
                  the Three Months Ended March 31, 2007**
              
              **For
                  the Three Months Ended March 31, 2006****CASH
                  FLOWS FROM OPERATING ACTIVITIES**Net
                  income
              
              $
              311,128
              
              $
              127,298Adjusted
                  to reconcile net income to cash (used in )provided
                  by operating activities:Allowance
                  for doubtful accounts - accounts receivable
              
              
              (24,569
              )
              
              -Depreciation
                  and amortization - cost of sales
              
              
              62,869
              
              
              53,518Depreciation
                  and amortization
              
              
              11,835
              
              
              12,194Minority
                  interest
              
              
              (13,981
              )
              
              (6,487
              )Changes
                  in operating assets and liabilities(Increase)
                  decrease in:Accounts
                  receivable
              
              
              68,847
              
              
              8,420Inventories,
                  net
              
              
              (734,630
              )
              
              (133,041
              )Due
                  from stockholders
              
              
              24,278
              
              
              19,959Other
                  assets
              
              
              219,889
              
              
              25,953Increase
                  (decrease) in:Accounts
                  payable
              
              
              (6,807
              )
              
              (27,118
              )Other
                  payables and accrued expenses
              
              
              47,949
              
              
              (6,314
              )Income
                  tax and other taxes payable
              
              
              (34,083
              )
              
              (4,872
              )Net
                  cash (used in) provided by operating activities
              
              
              (67,275
              )
              
              69,510**CASH
                  FLOWS FROM INVESTING ACTIVITIES**Decrease
                  in notes receivable
              
              
              257,355
              
              
              -Purchase
                  of property and equipment
              
              
              (5,489
              )
              
              (47,071
              )Net
                  cash provided by (used in) investing activities
              
              
              251,866
              
              
              (47,071
              )**CASH
                  FLOWS FROM FINANCING ACTIVITIES**Net
                  cash provided by financing activities
              
              
              -
              
              
              -**EFFECT
                  OF EXCHANGE RATES ON CASH**
              
              
              2,128
              
              
              20,854**NET
                  INCREASE IN CASH AND CASH EQUIVALENTS**
              
              
              186,719
              
              
              43,293**CASH
                  AND CASH EQUIVALENTS AT BEGINNING OF PERIOD**
              
              
              463,468
              
              
              89,108**CASH
                  AND CASH EQUIVALENTS AT END OF PERIOD**
              
              $
              650,187
              
              $
              132,401**SUPPLEMENTAL
                  DISCLOSURE OF CASH FLOW INFORMATION**Cash
                  paid during the period for:Income
                  taxes
              
              $
              842
              
              $
              -Interest
                  expenses
              
              $
              7,006
              
              $
              31




The
      accompanying notes are an integral part of these financial
      statements


5




**HUIFENG
      BIO-PHARMACEUTICAL TECHNOLOGY INC. AND SUBSIDIARIES**


**NOTES
      TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**


**AS
      OF MARCH 31, 2007**





NOTE
      1 ORGANIZATION AND BASIS OF PRESENTATION




Huifeng
      Bio-Pharmaceutical Technology Inc. (“Huifeng Bio-Pharmaceutical”) is a US-listed
      company incorporated in Nevada on March 16, 2000 under the name “Enternet, Inc.”
On May 23, 2002, the Articles of Incorporation were amended to change the name
      of the Company to “Secured Data, Inc.” On October 12, 2005, the Articles of
      Incorporation were amended to change the name of the Company to “Huifeng
      Bio-Pharmaceutical Technology Inc.”




Northwest
      Bio-Technic Inc. (“Northwest”) was incorporated in the British Virgin Islands
      (“BVI”) on June 25, 2004. Xian Huifeng Biochemistry Group Joint-Stock Company
      Limited (previously Xian Huifeng Biochemistry Joint-Stock Company Limited)
      (“Huifeng Biochemistry”) was incorporated in the People's Republic of China
      (“PRC”) on January 20, 2000 as a company with limited liabilities and was
      restructured as a joint stock company on September 29, 2002 under the laws
      of
      the PRC. On April 20, 2005, the Articles of Incorporation were amended to change
      the name of Huifeng Biochemistry to Xian Huifeng Biochemistry Group Joint-Stock
      Company Limited.




Huifeng
      Biochemistry produces plant extracts and bio-chemical products used as
      pharmaceutical raw materials in the PRC. Most of its products are distributed
      within the PRC and some European countries.




On
      August
      23, 2001, Huifeng Biochemistry established a 70% owned subsidiary, Xian Huifeng
      Biochemistry Engineering Company Limited (“Huifeng Engineering”) in the PRC with
      a registered capital of $265,778. The subsidiary has no operations since its
      incorporation.




On
      June
      16, 2004 Huifeng Biochemistry acquired an 86.7% interest in Baoji Jisen
      Pharmaceutical Company Limited, later renamed to Xian Huifeng Pharmaceutical
      Company Limited (“Huifeng Pharmaceutical”), a limited liability company in the
      PRC. On November 10, 2004 Huifeng Pharmaceutical increased its registered
      capital from $181,159 to $603,865. The increased registered capital was fully
      subscribed by a stockholder of the Company, diluting the Company's interest
      in
      Huifeng Pharmaceutical from 86.7% to 26%. On May 27, 2005 the PRC Government
      approved Huifeng Biochemistry's increased investment in Huifeng Pharmaceutical
      from $31,401 to $1,685,990 through an increase in the registered capital of
      Huifeng Pharmaceutical from $603,865 to $2,258,454. The acquisition of Huifeng
      Pharmaceutical by Huifeng Biochemistry was through a multi-step process
      increasing Huifeng Biochemistry's interest in Huifeng Pharmaceutical from 26%
      to
      80.2%.





The
      accompanying unaudited condensed consolidated financial statements have been
      prepared in accordance with accounting principles generally accepted in the
      United States of America for interim financial information and pursuant to
      the
      rules and regulations of the Securities and Exchange Commission. Accordingly,
      they do not include all of the information and footnotes required by generally
      accepted accounting principles for complete financial statements.





It
      the
      opinion of management, the unaudited condensed consolidated financial statements
      contain all adjustments on normal recurring accruals considered necessary to
      present fairly the Company's consolidated financial position at March 31, 2007,
      the consolidated results of operations for the three months ended March 31,
      2007
      and 2006, and consolidated cash flows for the three months ended March 31,
      2007
      and 2006. The consolidated results for the three months ended March 31, 2007
      are
      not necessarily indicative of the results to be expected for the entire fiscal
      year ending December 31, 2007. These consolidated financial statements should
      be
      read in conjunction with the consolidated financial statements and notes for
      the
      year ended December 31, 2006 appearing in the Company's annual report on Form
      10-KSB as filed with the Securities and Exchange Commission.








NOTE
      2 USE OF ESTIMATES





In
      preparing financial statements to conform with generally accepted accounting
      principles, management is required to make estimates and assumptions that affect
      the reported amounts of assets and liabilities and the disclosure of contingent
      assets and liabilities at the date of the financial statements and revenues
      and
      expenses during the reported period. Actual results could differ from those
      estimates.





6





**HUIFENG
      BIO-PHARMACEUTICAL TECHNOLOGY INC. AND SUBSIDIARIES**


**NOTES
      TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**


**AS
      OF MARCH 31, 2007**





NOTE
      3 PRINCIPLES OF CONSOLIDATION





The
      accompanying unaudited condensed consolidated financial statements as of March
      31, 2007 and 2006 include the financial statements of Huifeng Bio-Pharmaceutical
      and its 100% owned subsidiary Northwest, 100% owned subsidiary Huifeng
      Biochemistry, 70% owned subsidiary Huifeng Engineering and 80.2% owned
      subsidiary Huifeng Pharmaceutical. Minority interests represent the minority
      stockholders' proportionate share of the profits of Huifeng Engineering and
      Huifeng Pharmaceutical.





All
      significant inter-company balances and transactions have been eliminated in
      consolidation.








NOTE
      4 CASH AND CASH EQUIVALENTS





For
      purposes of the cash flow statements, the Company considers all highly liquid
      investments with original maturities of three months or less at the time of
      purchase to be cash equivalents.








NOTE
      5 INCOME TAXES





The
      Company accounts for income taxes under the Statement of Financial Accounting
      Standards No. 109, “Accounting for Income Taxes” (“Statement 109”). Under
      Statement 109, deferred tax assets and liabilities are recognized for the future
      tax consequences attributable to differences between the financial statement
      carrying amounts of existing assets and liabilities and their respective tax
      bases. Deferred tax assets and liabilities are measured using enacted tax rates
      expected to apply to taxable income in the years in which those temporary
      differences are expected to be recovered or settled. Under Statement 109, the
      effect on deferred tax assets and liabilities of a change in tax rates is
      recognized in income in the period that includes the enactment date. Huifeng
      Bio-pharmaceutical was incorporated in the United States and has incurred net
      operating loss as for income tax purposes for the three months ended March
      31,
      2007 and 2006.




Northwest,
      a wholly owned subsidiary of the Company, was incorporated in the British Virgin
      Islands and, under current laws of the British Virgin Islands, is not subject
      to
      tax on income or on capital gains.





Huifeng
      Biochemistry, a wholly-owned subsidiary of Northwest, was incorporated in the
      PRC being registered as a new and high technology enterprise is entitled to
      an
      income tax reduction. According to the document of reductions approved by the
      local tax bureau, the income tax rate was reduced from 33% to 15% on a permanent
      basis. Provision for income tax expenses for the three months ended March 31,
      2007 and 2006 were $56,608 and $0 respectively.





Huifeng
      Engineering and Huifeng Pharmaceutical, are 70% and 80.2% owned subsidiaries
      of
      Huifeng Biochemistry respectively, were also incorporated in the PRC and subject
      to PRC income tax which is computed according to the relevant laws and
      regulations in the PRC. No provision for income tax expenses for the three
      months ended March 31, 2007 and 2006 as Huifeng Engineering and Huifeng
      Pharmaceutical have incurred net operating losses.







NOTE
      6 EARNINGS PER SHARE





Basic
      and
      diluted net income per common share is computed based upon the weighted average
      common shares outstanding as defined by Financial Accounting Standards No.
      128,
      (“Earnings per Share.”) As of March 31, 2007 and 2006, there were no common
      share equivalents outstanding that had an anti-dilutive effect and were not
      included in the calculation of dilutive income per share.








NOTE
      7 BUSINESS SEGMENTS





The
      Company operates in one segment and therefore segment information is not
      presented.





7





**HUIFENG
      BIO-PHARMACEUTICAL TECHNOLOGY INC. AND SUBSIDIARIES**


**NOTES
      TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**


**AS
      OF MARCH 31, 2007**





NOTE
      8 RECENT ACCOUNTING PRONOUNCEMENTS





In
      July 2006, the FASB issued FASB Interpretation No. 48, Accounting for
      Uncertainty in Income Taxes—an Interpretation of FASB Statement 109 (“FIN 48”),
      which clarifies the accounting for uncertainty in tax positions. This
      Interpretation provides that the tax effects from an uncertain tax position
      can
      be recognized in the Company’s financial statements, only if the position is
      more likely than not of being sustained on audit, based on the technical merits
      of the position. The provisions of FIN 48 are effective as of the beginning
      of
      fiscal 2007, with the cumulative effect of the change in accounting principle
      recorded as an adjustment to opening retained earnings. The
      Company is currently evaluating the impact this new Standard, but believes
      that
      it will not have a material impact on the Company’s financial
      position.





In
      September 2006, FASB issued Statement 157, Fair Value Measurements. This
      statement defines fair value and establishes a framework for measuring fair
      value in generally accepted accounting principles (GAAP). More precisely, this
      statement sets forth a standard definition of fair value as it applies to assets
      or liabilities, the principal market (or most advantageous market) for
      determining fair value (price), the market participants, inputs and the
      application of the derived fair value to those assets and liabilities. The
      effective date of this pronouncement is for all full fiscal and interim periods
      beginning after November 15, 2007. The
      Company is currently evaluating the impact this new Standard, but believes
      that
      it will not have a material impact on the Company’s financial
      position.





In
      February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for
      Financial Assets and Financial Liabilities” (SFAS 159) which permits entities to
      choose to measure many financial instruments and certain other items at fair
      value that are not currently required to be measured at fair value. SFAS 159
      will become effective for us on January 1, 2008. The
      Company is currently evaluating the impact this new Standard, but believes
      that
      it will not have that it will not have a material impact on the Company’s
      financial position.








NOTE
      9 NOTES RECEIVABLE





Notes
      receivable as of March 31, 2007 consisted of the following:





Note
                receivable from a third party, interest rate of 12% perannum,
                non-secured, due September 2007
            
            $
            192,949Current
                maturities
            
            $
            192,949







NOTE
      10 COMMITMENTS AND CONTINGENCIES





Commitments




The
      Company occupies office and storage spaces from third parties under operating
      leases which expires on March 31, 2008 and November 10, 2007 at a quarterly
      rental of $2,637 and $371 respectively. Accordingly, for the three months ended
      March 31, 2007 and 2006, the Company recognized rental expenses for this space
      in the amount of $3,008 and $3,188 respectively.





As
      of
      March 31, 2007, the Company has outstanding commitments with respect to the
      non-cancelable operating leases of $11,457, which are due by March
      2008.






NOTE
      11 RELATED PARTY TRANSACTIONS





As
      of
      March 31, 2007 and 2006, the stockholders owed the Company $0 and $80,112
      respectively for advances made on an unsecured basis and repayable on demand.
      Interest is charged at 6% per annum on the amount due. Total interest income
      amounted to $0 and $1,110 for the three months ended March 31, 2007 and 2006
      respectively.





As
      of
      March 31, 2007 and 2006, the Company also owed the stockholders $0 and $1,250
      respectively for advances made on an unsecured basis, free of interest payment
      and repayable on demand.





8





**HUIFENG
      BIO-PHARMACEUTICAL TECHNOLOGY INC. AND SUBSIDIARIES**


**NOTES
      TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**


**AS
      OF MARCH 31, 2007**








NOTE
      12 CONCENTRATIONS AND RISKS





During
      the three months ended March 31, 2007 and 2006, 100% of the Company's assets
      were located in China.





During
      the three months ended March 31, 2007 and 2006, 49% and 62% of the Company's
      revenues were derived from companies located in China respectively.





The
      Company sold goods to one customer for $222,595, representing 16% of sales
      for
      the three months ended March 31, 2007. Accounts receivable to that customer
      was
      $76,809 as of March 31, 2007.





The
      Company relied on three suppliers for approximately $372,660, $362,398 and
      $201,130, representing in aggregate 63% of purchases for the three months ended
      March 31, 2007, and relied on two suppliers for approximately $99,125 and
      $122,650 respectively representing in aggregate 29% of purchases for the three
      months ended March 31, 2006. Accounts payable to those suppliers as of March
      31,
      2007 and 2006 were $0 and $60,922 respectively.





There
      have been no material changes to the risk factors discussed in Risk Factors
      in
      our Annual Report on Form 10-K for the year ended December 31, 2006. The risks
      described in our Annual Report on Form 10-K may not be the only risks facing
      our
      Company. Additional risks and uncertainties not currently known to us or that
      we
      currently deem to be immaterial also may materially adversely affect our
      business, consolidated financial condition and/or operating
      results.








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





This
      report contains forward-looking statements within the meaning of the federal
      securities laws. These include statements about our expectations, beliefs,
      intentions or strategies for the future, which we indicate by words or phrases
      such as "anticipate," "expect," "intend," "plan," "will," "we believe," "HFGB
      believes," "management believes" and similar language. The forward-looking
      statements are based on the current expectations of HFGB and are subject to
      certain risks, uncertainties and assumptions, including those set forth in
      the
      discussion under "Management's Discussion and Analysis or Plan of Operation".
      The actual results may differ materially from results anticipated in these
      forward-looking statements. We base the forward-looking statements on
      information currently available to us, and we assume no obligation to update
      them.





On
      December 20, 2004, pursuant to the Malone Agreement, Art Malone, Jr. ("Selling
      Shareholder") sold 7,229,601 shares of the common stock of the Company for
      $300,000 (the "Sale") to Zhi Lan Wang and Jun Lin, individuals on the closing
      date of December 20, 2004. Such 7,229,601 shares of the common stock of the
      Company represented approximately 56.18% of the total outstanding stock of
      the
      Company as of that date.




Immediately
      thereafter, pursuant to the terms of an Agreement and Plan of Reorganization
      dated December 20, 2004 ("Northwest Agreement"), the Company agreed to purchase
      all of the outstanding shares of Northwest BioTechnic, Inc. (“NBTI”), a British
      Virgin Islands corporation (the “Acquisition”). NBTI was incorporated in the
      British Virgin Islands on June 25, 2004.




At
      the
      time of the Acquisition, NBTI had a total of 500,000 shares issued and
      outstanding, 250,000 of which were held by Jing An Wang, and 50,000 each were
      held by Xinwen Hou, Zhang Jungi, Wang Bijun, Wang Zhilan, and Wang Xugang (the
      “NBTI Shareholders”). Pursuant to the terms of the Northwest Agreement, at the
      closing of the Acquisition, the Company delivered the following consideration
      to
      the NBTI Shareholders: (i) 80,735,590 newly-issued shares of the common stock
      of
      the Company (the “Initial NBTI Consideration”) in exchange for 30% of the total
      outstanding shares of NBTI (such shares of the common stock of the Company
      allocated among the NBTI Shareholders on a pro rata basis according to their
      respective ownership of NBTI); and (ii) a promissory note (the “Promissory
      Note”) payable to the NBTI Shareholders for the total amount of $1,900,000, in
      exchange for the remaining 70% of the total outstanding shares of NBTI. The
      Promissory Note is convertible into 10,465,725 shares of the Company's common
      stock (allocated among the NBTI Shareholders on a pro rata basis according
      to
      their respective ownership of NBTI), with such number of shares calculated
      assuming the completion of a one-for-eighteen reverse split of the Company's
      common stock prior to such conversion. Based on the current ownership of NBTI
      shares by the NBTI Shareholders, Jing An Wang would receive 5,232,860 shares
      of
      the Company's common stock upon conversion, and each of Xinwen Hou, Zhang Junqi,
      Wang Bijun, Wang Zhilan, and Wang Xugang would receive 1,046,573 shares of
      the
      Company's common stock.




NBTI
      operates through its wholly owned subsidiary, Huifeng Biochemistry Joint Stock
      Company ("Huifeng"), which is a joint venture company established under the
      laws
      of China and is engaged in the production and sales of plant extracts,
      biochemical products and pharmaceutical raw products in the PRC.





9





The
      exchange was treated as a reverse acquisition for accounting purposes. As such,
      the financial information reflected activity subsequent to the acquisition
      of
      the Company and its subsidiaries and financial activity of NBTI prior to the
      acquisition. We will continue the business operations conducted by
      NBTI.




The
      Company filed a definitive Information Statement pursuant to Section 14(c)
      of
      the Securities Exchange Act of 1934 on September 13, 2005 to change the name
      of
      the Company to "Huifeng Bio-Pharmaceutical Technology Inc.". On October 12,
      2005, the name of the Company changed to Huifeng Bio-pharmaceutical Technology
      Inc. and the ticker symbol changed to HFGB.OB.





**CRITICAL
      ACCOUNTING POLICIES AND ESTIMATES**





We
      have
      identified one policy area as critical to the understanding of our consolidated
      financial statements. The preparation of our consolidated financial statements
      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 consolidated financial statements and the
      reported amounts of sales and expenses during the reporting periods. With
      respect to net realizable value of the Company's accounts receivable and
      inventories, significant estimation judgments are made and actual results could
      differ materially from these estimates.





The
      Company does not have any reserves against its accounts receivable or
      inventories at March 31, 2007 and 2006. Management's estimation that there
      are
      no reserves is based on the current facts that there are no significant aged
      accounts receivable and the current inventory turnover is sufficient to realize
      the current carrying value of the inventories. In making their judgment,
      management has assumed that there will be continued demand for their products
      in
      the future, thereby maintaining adequate turnover of the inventories.
      Additionally, management has assumed that customers will continue to pay their
      outstanding invoices timely, and that their customers' financial positions
      will
      not deteriorate significantly in the future, which would result in their
      inability to pay their debts to the Company. While the Company's management
      currently believes that there is little likelihood that the actual results
      of
      their current estimates will differ materially from its current estimates,
      if
      customer demand for its products decreases significantly in the near future,
      or
      if the financial position of its customers deteriorates in the near future,
      the
      Company could realize significant write downs for slow moving inventories or
      uncollectible accounts receivable.





We
      believe the following is among the most critical accounting policies that impact
      our consolidated financial statements. We suggest that our significant
      accounting policies, as described in our consolidated financial statements
      in
      the Summary of Significant Accounting Policies, be read in conjunction with
      this
      Management's Discussion and Analysis of Financial Condition and Results of
      Operations.





We
      recognize revenue in accordance with Staff Accounting Bulletin ("SAB") No.
      104.
      All of the following criteria must exist in order for us to recognize
      revenue:





1. Persuasive
      evidence of an arrangement exists;





2. Delivery
      has occurred or services have been rendered;





3. The
      seller's price to the buyer is fixed or determinable; and





4. Collectibility
      is reasonably assured.





The
      majority of the Company's revenue results from sales contracts with distributors
      and revenue is generated upon the shipment of goods. The Company's pricing
      structure is fixed and there are no rebate or discount programs. Management
      conducts credit background checks for new customers as a means to reduce the
      subjectivity of assuring collectibility. Based on these factors, the Company
      believes that it can apply the provisions of SAB 104 with minimal
      subjectivity.





**RESULTS
      OF OPERATIONS**





THREE
      MONTHS ENDED MARCH 31, 2007 COMPARED TO THREE MONTHS ENDED MARCH 31,
      2006





Revenues,
      Cost of Revenues and Gross Margin





Revenues
      for the quarter ended March 31, 2007 were $1,397,669, an increase of $294,222
      from $1,103,447 for same quarter in 2006. Our increases in sales revenues in
      2007 were mainly attributable to the increase of our domestic sales and
      export sales in the first quarter of 2007 compared with the same quarter in
      2006
      in our pharmaceutical intermediates and pharmaceutical raw material as
      follows :


Product
                    
                    For
                        the quarter ended
                      March
                        31,
                    
                    Increase
                        /
                      (Decrease)2007
                    
                    2006Pharmaceutical
                        intermediates
                    
                    $
                    640,051
                    
                    $
                    414,152
                    
                    $
                    225,899Pharmaceutical
                        raw material
                    
                    
                    711,211
                    
                    
                    642,971
                    
                    
                    68,240Plant
                        Extractive and others
                    
                    
                    46,407
                    
                    
                    46,324
                    
                    
                    83TOTAL
                    
                    $
                    1,397,669
                    
                    $
                    1,103,447
                    
                    $
                    294,222





10





Cost
      of
      revenues for the quarter ended March 31, 2007 were $989,818, an increase of
      $56,108 from $933,710 for the quarter ended March 31, 2006. Compared to the
      quarter ended March 31, 2006, the increase in cost of sales of our products
      was
      because of the change in the cost of sales mix in the following categories
      of
      our products:


Product
              
              For
                  the quarter ended
                March
                  31,
              
              Increase
                  /
                (Decrease)2007
              
              2006Pharmaceutical
                  intermediates
              
              $
              380,340
              
              $
              334,094
              
              $
              46,246Pharmaceutical
                  raw material
              
              
              516,540
              
              
              568,428
              
              
              (51,888
              )Plant
                  Extractive and others
              
              
              92,938
              
              
              31,188
              
              
              61,750TOTAL
              
              $
              989,818
              
              $
              933,710
              
              $
              56,108





The
      gross
      profit margin for the quarter ended March 31, 2007 increased to 29% from 15%
      in
      the same period of 2006. The major reasons are the lower production cost and
      the
      higher added value of L-Rhamnose and Diosmin products which were put up for
      sale
      durring 2006.





Gross
      margin for the quarter ended March 31, 2007 was $407,851, an increase of
      $238,114 from $169,737 for the period ended March 31, 2006.





General
      and Administrative Expenses





General
      and Administrative expenses totaled $40,997 for the three months ended March
      31,
      2007, an increase of $7,063 from $33,934 for the three months ended March 31,
      2006. The increase in general and administrative expenses was mainly due to
      increase in rental expenses of $3,980 and foreign exchange loss of $3,098 from
      overseas sales incurred during the quarter as compared to the same quarter
      last
      year.





Selling
      and Distribution Expenses




Selling
      and distribution expenses totaled $19,044 for the three months ended March
      31,
      2007, a decrease of $15,587 from $34,631 for the three months ended March 31,
      2006. The Company has decreased its expenses of $8,404 in overseas conference
      meetings and freight expenses in the current quarter as compared to the same
      quarter last year.





Liquidity
      and Capital Resources




Cash




Our
      cash
      balance amounted to $650,187 at March 31, 2007.




In
      the
      three months ended March 31, 2007, our cash used in operating activities totaled
      $67,275, mainly due to our increase of inventories totaled $734,630. In the
      three months ended March 31, 2007, cash flow provided by investing activities
      totaled $251,866, mainly due to the repayment of a note receivable of
      $257,355.




The
      Company is currently funding its operations from our income from
      operations.




Working
      Capital




Our
      working capital amounted to $3,278,327 at March 31, 2007.





**INFLATION**




Inflation
      has not had a material impact on our business.







**CURRENCY
      EXCHANGE FLUCTUATIONS**




All
      of
      our revenues and majority of the expenses for the three months ended March
      31,
      2007 were denominated primarily in Renminbi ("RMB"), the currency of China,
      and
      were converted into US Dollars at the exchange rate of 7.77136 to 1. Since
      July
      22, 2005, the Renminbi has strengthened against the US dollars. As a result
      of
      the appreciation of RMB we recognized a foreign currency translation gain of
      $26,375 during the first quarter of 2007. There could be no assurance that
      RMB-to-U.S. dollar exchange rates will remain stable. A devaluation of RMB
      relative to the U.S. dollar would adversely affect our business, financial
      condition and results of operations. We do not engage in currency
      hedging.





11





**Item
      3. Controls and Procedures**


We
      maintain disclosure controls and procedures that are designed to ensure that
      information required to be disclosed in the Company's Exchange Act reports
      is
      recorded, processed, summarized and reported within the time periods specified
      in the SEC's rules and forms, and that such information is accumulated and
      communicated to our management, including its Chief Executive Officer and Chief
      Financial Officer, as appropriate, to allow timely decisions regarding required
      disclosure based closely on the definition of "disclosure controls and
      procedures" in Rule 13a-14(c). Our disclosure controls and procedures are
      designed to provide a reasonable level of assurance of reaching our desired
      disclosure control objectives. In designing and evaluating the disclosure
      controls and procedures, our management recognized that any controls and
      procedures, no matter how well designed and operated, can provide only
      reasonable assurance of achieving the desired control objectives, and management
      necessarily was required to apply its judgment in evaluating the cost-benefit
      relationship of possible controls and procedures. Our certifying officers have
      concluded that our disclosure controls and procedures require additional
      diligence to be considered effective in reaching that level of
      assurance.




As
      of the
      end of the period of this report, we carried out an evaluation, under the
      supervision and with the participation of our management including our Chief
      Executive Officer and our Chief Financial Officer, of the effectiveness of
      the
      design and operation of our disclosure controls and procedures. Based on the
      foregoing, our Chief Executive Officer and Chief Financial Officer concluded
      that our disclosure controls and procedures require additional diligence to
      be
      considered effective. We have put additional controls and procedures in place
      to
      assure that we attain the appropriate level of assurance on a going forward
      basis.





**PART
      II. OTHER INFORMATION**


**Item
      1. Legal Proceedings:**





We
      are
      currently not involved in any litigation that we believe could have a material
      adverse effect on our financial condition or results of operations. There is
      no
      action, suit, proceeding, inquiry or investigation before or by any court,
      public board, government agency, self-regulatory organization or body pending
      or, to the knowledge of the executive officers of our Company or any of our
      subsidiaries, threatened against or affecting the Company, our common stock,
      any
      of our subsidiaries or of our Company's or our Company's subsidiaries' officers
      or directors in their capacities as such, in which an adverse decision could
      have a material adverse effect.




**Item
      2 - Unregistered Sales of Equity Securities and Use of
      Proceeds:**





None




**Item
      3. Defaults Upon Senior Securities:**





None.





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





None




**Item
      5. Other Information:**





None





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





(a)
      Exhibits








31.1
            Sarbanes
                Oxley Section 302 Certification31.2
            Sarbanes
                Oxley Section 302 Certification32.1
            Sarbanes
                Oxley Section 906 Certification32.2
            Sarbanes
                Oxley Section 906 Certification








12





SIGNATURES





Pursuant
      to the requirements of Section 13 or 15(d) of the Securities Exchange Act of
      1934, as amended, the registrant has duly caused this Report to be signed on
      its
      behalf by the undersigned, thereunto duly authorized this 11th day of May,
      2007.


**HUIFENG
                BIO-PHARMACEUTICAL TECHNOLOGY, INC**By:
            /s/
                JING AN WANGJing
                An Wang
              Chief
                Executive Officer







13