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

                                  FORM 10-QSB


[X]  QUARTERLY  REPORT  UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
     OF  1934  for  the  quarterly  period  ended  June  30,  2004

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


                         PINGCHUAN PHARMACEUTICAL, INC.
                         ------------------------------
        (Exact name of small business issuer as specified in its charter)


                                 XENICENT, INC.
                                 --------------
                     (former name of small business issuer)


         North  Carolina                                  36-4344865
         ---------------                                  ----------
(State  or  other  jurisdiction  of            (IRS Employer Identification No.)
  incorporation  or  organization)


                32 Ganshui Rd., Harbin, Heilongjiang, P.R.China
                -----------------------------------------------
                    (Address of principal executive offices)


                                (86451) 8271-3712
                                -----------------
                          (Issuer's telephone number)


Check  whether  the issuer (1) filed all reports required to be filed by Section
13  or  15(d) of the Exchange Act during the past 12 months (or for such shorter
period  that the registrant was required to file such reports), and (2) has been
subject  to  such  filing  requirements  for  the  past 90 days. Yes [x] No [  ]

Number  of  shares  of  common  stock  outstanding  as  of
August  15,  2004:  70,552,404

Number  of  shares  of  preferred  stock  outstanding  as  of
August  15,  2004:  -0-




                              INDEX TO FORM 10-QSB

                                                                       Page  No.
                                                                       ---------
PART  I
-------

Item  1.  Financial  Statements  -  Unaudited

          Condensed  Balance  Sheet  -  June  30,  2004                        3

          Condensed Statements of Operations - Six Months Ended
          June  30,  2004  and  2003                                           4

          Condensed Statements of Cash Flows - Six Months Ended
          June  30,  2004  and  2003                                           5

          Notes to Condensed Unaudited Financial Statements                  6-7

Item  2.  Management's Discussion and Analysis of Financial
          Condition  And  Results  of  Operations                              8

Item  3.  Quantitative and Qualitative Disclosures on Market Risk             14

Item  4.  Controls  and  Procedures                                           15

PART  II
--------

Item  1.  Legal  Proceedings                                                  15

Item  2.  Changes  in  Securities                                             15

Item  3.  Defaults  Upon  Senior  Securities                                  15

Item  4.  Submission of Matters to a Vote of Security Holders                 15

Item  5.  Other  Information                                                  15

Item  6.  Exhibits                                                         16-18



ITEM  1.
--------


                        PING CHUAN PHARMACEUTICAL, INC.
                              F/K/A XENICENT, INC.
                      CONDENSED BALANCE SHEET (UNAUDITED)
                                  JUNE 30, 2004
================================================================================


                                     ASSETS
                                     ------

CURRENT  ASSETS:
   Cash                                                            $        841
                                                                   ------------
      TOTAL CURRENT ASSETS                                                  841
                                                                   ------------

PROPERTY,  PLANT  AND  EQUIPMENT:
   Property and equipment, net of accumulated
   depreciation of $7,520                                                 1,680
                                                                   ------------

      TOTAL ASSETS                                                 $      2,521
                                                                   ============


                      LIABILITIES AND STOCKHOLDERS' DEFICIT
                      -------------------------------------

CURRENT  LIABILITIES:
   Accounts payable                                                      30,000
   Loan payable to stockholder                                          110,638
                                                                   ------------
      TOTAL CURRENT LIABILITIES                                         140,638
                                                                   ------------

STOCKHOLDERS'  DEFICIT:
   Preferred stock ($.001 par value, 5,000,000 shares
   authorized: none issued and outstanding)                                   -
   Common stock ($.001 par value, 50,000,000 shares
   authorized: 2,112,404 issued and outstanding)                          2,112
   Common stock to be returned ($.001 par value,
   80,000 common shares)                                                    (80)
   Additional paid-in-capital                                         1,124,360
   Accumulated deficit                                               (1,264,509)
                                                                   ------------
      TOTAL STOCKHOLDERS' DEFICIT                                      (138,117)
                                                                   ------------

      TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                  $      2,521
                                                                   ============


    The accompanying notes are an integral part of these financial statements




<TABLE>
<CAPTION>


                                        PING CHUAN PHARMACEUTICAL, INC.
                                              F/K/A XENICENT, INC.
                                  CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)
                             FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2004 AND 2003
===============================================================================================================

                                           Three  Months Ended  June  30,         Six  Months Ended  June  30,
                                              2004                2003               2004              2003
                                          ------------        ------------       ------------      ------------
<S>                                       <C>                 <C>                <C>               <C>

REVENUE  AND  COST  OF  SALES:
   Sales                                  $          -        $          -       $          -      $          -
   Cost of sales                                     -                   -                  -                 -
                                          ------------        ------------       ------------      ------------
      Gross Profit                                   -                   -                  -                 -
                                          ------------        ------------       ------------      ------------

OPERATING  EXPENSES:

   Selling, general and administrative          17,090              83,775             22,944           111,254
                                          ------------        ------------       ------------      ------------
      TOTAL EXPENSES                            17,090              83,775             22,944           111,254
                                          ------------        ------------       ------------      ------------

      OPERATING LOSS                           (17,090)            (83,775)           (22,944)         (111,254)
                                          ------------        ------------       ------------      ------------

OTHER  EXPENSE:
   Interest expense                             (1,617)               (883)            (3,133)           (1,564)
                                          ------------        ------------       ------------      ------------
      TOTAL OTHER EXPENSE                       (1,617)               (883)            (3,133)           (1,564)
                                          ------------        ------------       ------------      ------------

      NET LOSS                            $    (18,707)       $    (84,658)      $    (26,077)     $   (112,818)
                                          ============        ============       ============      ============


   Basic & fully diluted loss per share          (0.01)              (0.04)             (0.01)            (0.05)
                                          ============        ============       ============      ============

   Weighted average common shares
   outstanding                               2,112,404           2,043,067          2,112,404         2,054,733
                                          ============        ============       ============      ============


</TABLE>



    The accompanying notes are an integral part of these financial statements



<TABLE>
<CAPTION>


                                PING CHUAN PHARMACEUTICAL, INC.
                                      F/K/A XENICENT, INC.
                          CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)
                         FOR THE SIX MONTHS ENDED JUNE 30, 2004 AND 2003
==========================================================================================================

                                                                                  2004            2003
                                                                              ------------    ------------
<S>                                                                           <C>             <C>

CASH  FLOWS  FROM  OPERATING  ACTIVITIES:
   Net income (loss)                                                          $    (26,077)   $   (112,818)
   Adjustments to reconcile net income (loss) to net
   cash provided by (used in) operating activities:
      Depreciation                                                                     240             580
      Common stock issued for services                                                   -          87,500
      Increase  (decrease)  in  operating  liabilities:
         Accounts payable and accrued expenses                                     (11,032)         (2,486)
                                                                              ------------    ------------
         NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES                       (36,869)        (27,224)
                                                                              ------------    ------------

CASH  FLOWS  FROM  INVESTING  ACTIVITIES:
   Acquisitions of property, plant and equipment                                         -          (2,400)
                                                                              ------------    ------------
         NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES                             -          (2,400)
                                                                              ------------    ------------

CASH  FLOWS  FROM  FINANCING  ACTIVITIES:
   Proceeds from stockholder loans                                                  36,979          27,200
                                                                              ------------    ------------
         NET CASH PROVIDED BY FINANCING ACTIVITIES                                  36,979          27,200
                                                                              ------------    ------------

         NET DECREASE IN CASH AND CASH EQUIVALENTS                                     110          (2,424)

CASH  AND  CASH  EQUIVALENTS:
   Beginning of year                                                                   731           2,512
                                                                              ------------    ------------

   End of period                                                              $        841    $         88
                                                                              ============    ============

SUPPLEMENTAL CASH FLOW DISCLOSURES AND NON-CASH
INVESTING INFORMATION:
   Common stock issued to others for services                                 $          -    $     87,500
                                                                              ============    ============
   Cash paid during the year for interest                                     $          -    $          -
                                                                              ============    ============


</TABLE>


    The accompanying notes are an integral part of these financial statements



                         PINGCHUAN PHARMACEUTICAL, INC.
                    NOTES TO CONDENSED FINANCIAL STATEMENTS
                            June 30, 2004 (UNAUDITED)


NOTE  1  -  BASIS  OF  PRESENTATION

     The  accompanying  unaudited  condensed  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.

     In  the opinion of management, the unaudited condensed financial statements
contain  all adjustments consisting only of normal recurring accruals considered
necessary  to  present fairly the Company's financial position at June 30, 2004,
the  results  of  operations  for the three months and six months ended June 30,
2004  and  2003, and cash flows for the six months ended June 30, 2004 and 2003.
The results for the period ended June 30, 2004 are not necessarily indicative of
the  results to be expected for the entire fiscal year ending December 31, 2004.
These  financial  statements  should  be  read in conjunction with the Company's
annual  report  on  Form  10-KSB  as  filed  with  the  Securities  and Exchange
Commission.

     Use  of  estimates  -  The  preparation  of  the  financial  statements  in
conformity  with USGAAP requires  the Company's management to make estimates and
assumptions  that affect the  reports  amounts  of  assets  and  liabilities  at
the  date  of  financial  statements  and  the  reported amounts of revenues and
expenses  during  the  reported periods.  Actual amounts could differ from those
estimates.

     Earnings  (Loss)  per  share - Basic  earnings  (loss)  per  share  exclude
dilution  and  are computed by dividing loss available to common shareholders by
the  weighted  average  number of common  shares  outstanding  for  the  period.

     Diluted  earnings  per share are computed by dividing earnings available to
common  shareholders by the weighted average number of common shares outstanding
adjusted  to  reflect potentially dilutive securities. The company does not have
any  dilutive  securities  outstanding  as  of  June  30,  2004.

NOTE  2  -  REORGANIZATION

     Pursuant  to  the  Letter  of Intent dated March 22, 2004 between and among
Xenicent, Inc., the predecessor of Pingchuan Pharmaceutical, Inc., ("Xenicent"),
Duane  Bennett  and  Harbin  Ping  Chuan  Yao  Ye  Gu  Fen  You  Xian Gong Si, a
corporation  organized  and  existing under the laws of the Peoples' Republic of
China  ("Ping  Chuan"),  on  June 22, 2004, Xenicent executed a plan of exchange
pursuant  to  which Xenicent agreed to issue 70,000,000 new investment shares of
common  stock  to  the  shareholders  of Ping Chuan in exchange for all of their
shares of capital stock of Ping Chuan.  As a result of the exchange transaction,
Ping  Chuan  became a wholly-owned subsidiary of Pingchuan Pharmaceutical, Inc.,
and  the  Ping  Chuan  shareholders  control approximately 98% of the issued and
outstanding shares of Pingchuan Pharmaceutical, Inc. As part of the transaction,
Xenicent  agreed  to change its corporate name to Pingchuan Pharmaceutical, Inc.
and  obtain  a  new  stock  ticker  symbol.

     On  July  28,  2004, Xenicent changed its name to Pingchuan Pharmaceutical,
Inc.  (the  "Company")  and increased its authorized shares of common stock from
50,000,000  to 150,000,000 by filing Articles of Amendment with the Secretary of
State  of  the  State  of  North  Carolina.  In addition, on August 3, 2004, the
Over-the-Counter  Bulletin Board awarded the new trading symbol of "PGCN" to the
Company.

     The  exchange  transaction was consummated on August 11, 2004. As a result,
the  audited financial statements of the Company and proforma combined financial
statements  will  be  filed  within  60  days  of  the  date.

NOTE  3  -  RELATED  PARTY  TRANSACTIONS

     During  the  six  months  ended June 30, 2004, Xenicent received $36,979 in
loan  proceeds  from  its  President  and  Chief  Executive Officer. The loan is
unsecured,  due  on demand and bears interest at 6% per annum. The proceeds from
the  loan  were  used  for  working  capital  purposes.

NOTE  4  -  STOCKHOLDERS'  EQUITY

     Xenicent's  Board  of  Directors adopted a 5:1 reverse stock split on March
30,  2004,  which  became  effective  on April 20, 2004. The reverse stock split
combines  Xenicent's  outstanding  Common  Stock  on  the basis of 5 outstanding
shares  being  combined  into 1 outstanding share. Each shareholder's percentage
ownership  in  Xenicent  will  remain  essentially  unchanged as a result of the
reverse  stock  split.  All  amounts have been retroactively restated to reflect
the  reverse  stock  spilt.

NOTE  5  -  GOING  CONCERN  CONSIDERATION

     The  Company  has  suffered  recurring losses, has negative cash flows from
operations  of  $36,869 and has an accumulated deficit of $1,264,509 on June 30,
2004.  These  factors  raise  substantial  doubt  about the Company's ability to
continue as a going concern. The Company's continued existence is dependent upon
its  ability to resolve its business and liquidity problems, principally through
raising  additional  capital  and  increasing its sales. Management's plans with
regard  to  this  matter  are  to seek additional capital for operations through
either  debt or equity and/or enact a business combination. The merger with Ping
Chuan  is also intended to address this situation. These financial statements do
not  include  any  adjustments  that  might  result  from  this  merger.

ITEM  2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATION
--------

     With the exception of historical facts stated herein, the matters discussed
in  this  report  are  "forward  looking"  statements  that  involve  risks  and
uncertainties  that  could  cause  actual  results  to  differ  materially  from
projected  results.  Such  "forward  looking"  statements  include,  but are not
necessarily  limited  to,  statements  regarding  anticipated  levels  of future
revenues and earnings from operations of the Company. Readers of this report are
cautioned  not to put undue reliance on "forward looking" statements, which are,
by  their  nature,  uncertain  as reliable indicators of future performance. The
Company  disclaims  any  intent  or obligation to publicly update these "forward
looking"  statements,  whether as a result of new information, future events, or
otherwise.  In  addition  the  uncertainties  include,  but  are not limited to,
competitive  conditions  involving  the  Company's  markets.

GENERAL  DESCRIPTION  OF  BUSINESS
----------------------------------

     We  were  incorporated  in  North  Carolina  on July 26, 1996 as Great Land
Development Co. We changed our name to Xenicent, Inc. on November 8, 2000. Since
our incorporation as Great Land Development Co., we have engaged in the business
of  real  estate  consulting and purchasing and reselling vacant tracts of land,
primarily  in  the  North  Carolina  area.

     Pursuant  to  and at the closing of the plan of exchange, which occurred on
August  11, 2004, the shareholders of Ping Chuan (the "Ping Chuan Shareholders")
exchanged all of their registered capital of Ping Chuan for 70,000,000 shares of
common  stock  of  the  Company, or 98% of the Company's then outstanding common
stock.  Upon  completion  of  the  exchange,  Ping  Chuan  became a wholly-owned
subsidiary  of  the  Company  and  the  Ping  Chuan Shareholders transferred RMB
1,030,000 in registered share capital (representing US$124,848) of Ping Chuan to
the  Company.

     The  consummation  of  the  exchange transaction has had several additional
consequences.  Chairman  Duane  Bennett  filled  five  vacancies on the Board of
Directors of the Company with designees of Ping Chuan and then he resigned.  The
names  and  positions  of these individuals are:  Mr. Zhanwu Hu, Chairman of the
Board  and  President;  Mr.  Qitai Yao, Director and CEO; Mr. Yi Xiao, Director,
Vice  President  and  Vice  General  Manager;  Mr.  Xichen  Gao,  Director, Vice
President  and Vice General Manager; and Ms. Chunli Li, Director, Vice President
and  Vice  General  Manager.  Reference is made to a Current Report on Form 8-K,
dated  August  11,  2004,  filed  by  the  Company  with  the  Commission, for a
description  of the backgrounds and shareholdings of each of these directors and
officers.

     In addition, Bennett and the other founding principals of Xenicent received
the  last  of their payments of cash and notes totaling $400,000 in exchange for
tendering  their  1,560,000  shares  of  common  stock  of  the  Company  for
cancellation.

     Our  Ping  Chuan subsidiary is an integrated pharmaceutical company located
in  Harbin,  Peoples' Republic of China, which produces antibiotics, medicine in
capsule form, traditional Chinese medicine and other products.  It had unaudited
revenue  of  approximately US$1.6 million in fiscal 2003, and over 50 employees.
Ping  Chuan  was  established  in  2001, and its modern factory is located in an
economic  technology development zone in Harbin.  Many of Ping Chuan's employees
are  highly  educated,  and include engineers with advances degrees, pharmacists
and  college  graduates  with  bachelor  degrees.

     As  mentioned  above,  Ping  Chuan's products include antibiotics, chemical
medical  capsules  and  traditional  Chinese medicine.  Ping Chuan also produces
medical  intermediates  and  pharmaceutical  preparations,  as  well  as medical
instruments and health care food and other related products.  These products are
sold  in all of the provinces of China, and in the municipalities and autonomous
regions  in  China.  Ping Chuan also has an active export business, particularly
to  Russia.  Ping  Chuan's  business plan includes raising capital for growth in
the capital markets of the United States.  This is one of the major reasons Ping
Chuan  entered  into the exchange transaction with Xenicent, which was a company
without  operations  that  traded  on  the  Over-The-Counter Bulletin Board.  It
resulted  in  Ping  Chuan  becoming  a subsidiary of the newly renamed Pingchuan
Pharmaceutical  Inc.

COMPETITION

     We  expect  to  encounter  intense  competition  from  other pharmaceutical
companies having a business objective similar to ours. Many of these competitors
possess  greater  financial, marketing, technical, personnel and other resources
than  us and there can be no assurances that we will have the ability to compete
successfully.  Our  financial  resources  are extremely limited in comparison to
those of many of our competitors.  Management believes, however, that our status
as  a reporting public entity with access to the U.S. capital markets could give
us  a  competitive  advantage  over  privately  held  entities  having a similar
business  objective  to  ours.

RESULTS  OF  OPERATIONS
-----------------------

Net  Income  /  Loss

     The  Company  had a net loss of $26,077 from continuing operations, or $.01
per  common  share, for the six months ended June 30, 2004, versus a net loss of
$112,818,  or  $.05  per  common  share,  for the same period ended in 2003. The
decrease  in  net  loss  from  the prior year was primarily due to a decrease in
general  and administrative expenses, which was $22,944 for the six months ended
June  30,  2004,  versus  $111,254  for  the  same  period  ended  in  2003.

Sales

     There  were  no  sales  for  the  six  months ended June 30, 2004 and 2003.

Expenses

     Operating  expenses  for  the  six  months ended June 30, 2004 decreased to
$22,944  from  $111,254  in  the  same  period  in  2003. In comparison with the
six-month  period  ended  June  30,  2004,  selling,  general and administrative
expenses  decreased  due  to  reduction  in  consulting  fees.

Liquidity  and  Capital  Resources

     On  June  30,  2004, the Company had cash of $841 and a $139,797 deficit in
working capital. This compares with cash of $88 and a working capital deficit of
$75,814  at  June  30,  2003. The change in working capital was due primarily to
shareholder  loans  received  since  the  2003  period.

     Net  cash  flows  used  in  operating activities were ($36,869) for the six
months  ended  June  30,  2004  as  compared  with  net  cash  used in operating
activities  of  ($27,224) for the same period in 2003. The increase in cash used
in  operations  was  primarily  attributable to the increase in net loss for the
period.

     Net  cash  flows  used  in investing activities was $-0- for the six months
ended  June  30,  2004 as compared with net cash used in investing activities of
($2,400)  in  the  comparable  period  in  2003.  Cash  flows  used in investing
activities  for  the six months ended June 30, 2003 were from the acquisition of
property,  plant  and  equipment.

     Net  cash  flows  provided  by financing activities was $36,979 for the six
months  ended  June  30,  2004  as  compared with net cash provided by financing
activities  of $27,200 in the comparable period in 2003. The cash flows provided
by  financing  activities  in  both  periods  were  primarily  due to loans from
stockholders.

     The shareholder loan from Duane Bennett, President and majority shareholder
is  not  evidenced  by a written promissory note and bears simple interest at 6%
per  annum.

     Overall, we have funded our cash needs from inception through June 30, 2004
with a series of debt and equity transactions, primarily with Duane Bennett, our
President  and majority stockholder. If we are unable to receive additional cash
from  our  majority  stockholder,  we may need to rely on financing from outside
sources  through  debt  or  equity transactions. Our President is under no legal
obligation  to  provide  us  with  capital  infusions.  Failure  to  obtain such
financing  could  have  a  material  adverse  effect on operations and financial
condition.

     As  discussed in this report, our independent auditors have expressed doubt
as  to  our  ability  to continue as a going concern. Our continued existence is
dependent  upon  our  ability  to  resolve  our business and liquidity problems,
principally  through  raising  additional  capital and increasing our sales. Our
plans  with  regard to this matter are to seek additional capital for operations
through  either  debt  or equity and/or enact a business combination. The merger
with  Ping  Chuan  is  also  intended  to  address  this  situation.

ITEM  3.  QUANTITATIVE  AND  QUALITATIVE  DISCLOSURES  ABOUT  MARKET  RISK

     We  do  not  have  any  material  risk  with  respect to changes in foreign
currency exchange rates, commodities prices or interest rates. We do not believe
that  we  have  any  other  relevant  market risk with respect to the categories
intended  to  be  discussed  in  this  item  of  this  report.

ITEM  4.  CONTROLS  AND  PROCEDURES

(a)  On  June  30,  2004,  we  made an evaluation of our disclosure controls and
     procedures.  In  our  opinion,  the  disclosure controls and procedures are
     adequate  because  the  systems  of controls and procedures are designed to
     assure,  among  other  items,  that  1) recorded transactions are valid; 2)
     valid  transactions  are  recorded; and 3) transactions are recorded in the
     proper  period  in  a  timely  manner to produce financial statements which
     present  fairly  the  financial  condition,  results of operations and cash
     flows  for the respective periods being presented. Moreover, the evaluation
     did  not  reveal any significant deficiencies or material weaknesses in our
     disclosure  controls  and  procedures.

(b)  There have been no significant changes in our internal controls or in other
     factors  that  could  significantly  affect  these  controls since the last
     evaluation.

PART  II.  OTHER  INFORMATION
---------

Item  1.  Legal  Proceedings

None.
Item  2.  Changes  in  Securities

None.

Item  3.  Defaults  Upon  Senior  Securities

None.

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

None.

Item  5.  Other  Information

     Pursuant  to  the  Letter  of Intent dated March 22, 2004 between and among
Xenicent,  Duane Bennett and Harbin Ping Chuan Yao Ye Gu Fen You Xian Gong Si, a
corporation  organized  and  existing under the laws of the Peoples' Republic of
China  ("Ping Chuan"), on June 22, 2004, the Company executed a plan of exchange
pursuant  to  which Xenicent agreed to issue 70,000,000 new investment shares of
common  stock  to  the  shareholders  of Ping Chuan in exchange for all of their
shares of capital stock of Ping Chuan.  As a result of the exchange transaction,
Ping  Chuan  became a wholly-owned subsidiary of the Company, and the Ping Chuan
shareholders  control  approximately 98% of the issued and outstanding shares of
the  Company.  As  part  of  the  transaction,  Xenicent  agreed  to  change its
corporate name to Pingchuan Pharmaceutical Inc. and stock ticker symbol prior to
the  Closing.

     On  July  28,  2004, Xenicent changed its name to Pingchuan Pharmaceutical,
Inc.  and  increased  its  authorized  shares of common stock from 50,000,000 to
150,000,000  by  filing Articles of Amendment with the Secretary of State of the
State  on North Carolina. In addition, on August 3, 2004, the NASDAQ awarded the
new  trading  symbol  of  "PGCN"  to  the  Pingchuan  Pharmaceutical,  Inc.

     On  August  11, 2004, the exchange transaction was consummated. As required
by  Item  7 of Form 8-K, audited financial statements of Ping Chuan and proforma
combined financial statements will be filed within 60 days of the date of August
11,  2004.

Item  6.  Exhibits  and  Reports  on  Form  8-K

(a)  Exhibits

     3.   Articles  of Incorporation with amendments and bylaws are incorporated
          by  reference  from Exhibit No. 1 of Form SB-2, as amended, filed with
          the  Commission  on  or  about  April  2001.

     31.1 Certifications  of  CEO  pursuant  to  Section  302
     31.2 Certifications  of  CFO  pursuant to Section 302 (Included in Item No.
          31.1)
     32.1 Section  1350  Certifications  of  CEO
     32.2 Section  1350  Certifications  of  CFO

(b)  Reports  on  Form  8-K

     A  Current  Report  on  Form  8-K was filed with the Commission on April 2,
2004,  and  is incorporated by reference herein. It reports the authorization by
the  Board  of  Directors  of  a  5:1  reverse  stock split and also reports the
Company's  entering  into  of  letter  of  intent  to  consummate  an  exchange
transaction  with  Harbin  Ping  Chuan  Yi  Liao  Qi  Xie  You  Xian  Gong Si, a
corporation  organized  and  existing under the laws of the Peoples' Republic of
China.

     A Current Report on Form 8-K was filed with the Commission on June 6, 2004,
and  is  incorporated  by  reference  herein.  It reports the termination of the
relationship  with  Giantek Technology Corporation, a Taiwanese corporation that
manufactures  and  distributes  Light  Emitting  Diode  (LED)  display  systems,
effective  December  30,  2003

     A  Current  Report  on  Form  8-K was filed with the Commission on June 22,
2004,  and  is incorporated by reference herein. It reports the Company entering
into  a plan of exchange with Harbin Ping Chuan Yi Liao Qi Xie You Xian Gong Si,
a  corporation organized and existing under the laws of the Peoples' Republic of
China  ("Ping  Chuan"), pursuant to which Ping Chuan will become a subsidiary of
the  Company.

     A  Current  Report  on  Form  8-K was filed with the Commission on June 29,
2004,  and  is incorporated by reference herein. It reports that the Company may
have to file an amended Annual Report on Form 10-KSB for the year ended December
31,  2003  due  to  the  termination  of  Giantek.

     A  Current  Report  on Form 8-K was filed with the Commission on August 13,
2004, and is incorporated by reference herein. It reports that the Company, Ping
Chuan,  the  Ping  Chuan Shareholders and Duane Bennett consummated the exchange
transaction on August 11, 2004, pursuant to which the Company underwent a change
in  control.



                                   SIGNATURES
                                   ----------

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



                                   PINGCHUAN  PHARMACEUTICAL,  INC.
                                   --------------------------------
                                  (Registrant)




                                   /S/  Zhanwu  Hu,  President
Date:  August  23,  2004           ---------------------------
                                   Zhanwu  Hu,  President