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 1934For the quarterly period ended February 29, 2008o
Transition report under Section 13 or 15(d) of the
 Securities Exchange Act of 1934For the transition period from ______to ______ Commission file
number: 000-25591 CHINA ELITE INFORMATION CO., LTD.(Exact name of
 Registrant as Specified in its Charter)BRITISH
 VIRGIN ISLANDS

11-3462369(State or other jurisdiction of
 incorporation or organization)

(IRS Employer
 Identification No.)  c/o DeHeng Chen Chan, LLC, 225
 Broadway, Suite 1910, NY, NY
10007(Address of Principal Executive Offices)
(Zip Code)(212)
 608-6500(Registrants telephone number, including area
 code) Check whether the issuer (1) filed all reports required
to be filed by Section 13 or 15(d) of the Securities 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. YesxNoo Indicate by check mark
whether the registrant is a shell company (as defined by Rule 12b-2 of the
Exchange Act). Yesx
Noo State the number of
shares outstanding of each of the issuers classes of common stock, as of the latest practicable date: As
of April 14, 2008, there were
11,200,000 shares of common stock outstanding. Transitional Small Business
Disclosure Format (Check one): Yeso No
x    CHINA ELITE
INFORMATION CO., LTD.
FORM 10-QSBFOR THE
THREE MONTHS ENDED FEBRUARY 29, 2008

INDEX

Page
 NumberPART I. FINANCIAL INFORMATION
1Item 1.

Financial
 Statements
1Interim Balance Sheet
1Interim Statements of Operations
2Interim Statements of Cash Flows
3Notes to Interim Financial Statements
4Item
 2.

Managements Discussion and Analysis or Plan of Operations
5Item
 3.

Controls and Procedures
7PART
 II. OTHER INFORMATION

7Item 1.

Legal
 Proceedings
7Item 2.

Unregistered Sales of Equity Securities and Use of
 Proceeds
7Item 3.

Defaults
 Upon Senior Securities
8Item 4.

Submission
 of Matters to a Vote of Security Holders
8Item 5.

Other
 Information
8Item 6.

Exhibits
8SIGNATURES
9PART I.
FINANCIAL
INFORMATIONItem 1.
Financial StatementsCHINA ELITE INFORMATION CO., LTD.(A Development Stage
Company)INTERIM BALANCE SHEET

(Expressed in U.S.
Dollars)

February 29,
  2008
  (Unaudited)

November 30,
  2007
  (Audited)ASSETSCurrent AssetsPrepayment

$
290

$
28Total current
assets


290


28Total assets

$
290

$
28LIABILITIES AND
STOCKHOLDERS DEFICIENCYCurrent LiabilitiesAccounts
payable and accrued expenses

$
16,288

$
14,185Loans from
shareholder


407,888


400,612Total current
liabilities


424,176


414,797Commitments and
ContingenciesStockholders DeficiencyPreferred
stock: $0.01 par value; 10,000,000 shares authorized; issued and
  outstanding: none





Common stock:
$0.01 par value; 50,000,000 shares authorized; issued and outstanding: 11,200,000


112,000


112,000Additional
paid in capital


154,465


154,465Deficit
accumulated during the development stage


(690,351
)

(681,234
)Total
stockholders deficiency


(423,886
)

(414,769
)Total liabilities and
stockholders deficiency

$
290

$
28See condensed notes to financial
statements.


1

CHINA ELITE INFORMATION CO., LTD.(A Development Stage
Company)INTERIM STATEMENTS OF
OPERATIONS
(Unaudited)
For the three months ended February 29, 2008 and February 28, 2007, and
for the period from inception (December 19, 1997) to February 29, 2008

(Expressed in U.S. Dollars)

Cumulative
 from
 inception

2008

2007Revenues

$


$


$
General and administrative expensesSalaries and
benefits


181,888





General and
administrative


437,595


9,117


18,973Consulting fees
 related party


150,000





Total general
and administrative expenses


769,483


9,117


18,973Operating loss


(769,483
)

(9,117
)

(18,973
)Other income (expense)Loss on
disposal of property and equipment


(1,473
)




Interest
expense


(53,956
)




Interest
income


134,561





Total other
income (expense)


79,132





Net loss

$
(690,351
)
$
(9,117
)
$
(18,973
)Basic and diluted net loss per share




$


$
Weighted average shares outstanding





11,200,000


11,200,000See condensed notes to financial statements.

2

CHINA ELITE INFORMATION CO., LTD.(A Development Stage
Company) INTERIM STATEMENTS OF CASH
FLOWS 
(Unaudited) 
For the three months ended February 29, 2008 and February 28, 2007, and 
for the period from inception (December 19, 1997) to February 29, 2008

(Expressed in U.S. Dollars)

Cumulative
  from
  inception

2008

2007Cash flows from operating
activitiesNet loss

$
(690,351
)
$
(9,117
)
$
(18,973
)Adjustments
to reconcile net loss to net cash
  flows used in operating activitiesDepreciation
and organization costs


11,492





Loss on
disposal of property and equipment


1,473





Common stock
issued for services


48,400





(Increase)
decrease in interest receivable


(1,483
)




(Increase)
decrease in prepayment


(290
)

(262
)

(292
)Increase
(decrease) in accounts payable and
  accrued expenses


16,288


2,103


(11,593
)Net cash flows used in
operating activities


(614,471
)

(7,276
)

(30,858
)Cash flows from investing
activitiesCash paid for
note receivable


(1,117,602
)




Cash received
from note receivable


1,117,602





Cash paid for
equipment


(11,465
)




Net cash flows used in
investing activities


(11,465
)




Cash flows from financing
activitiesLoans from
shareholder


422,285


7,276


30,858Proceeds from
issuance of stock


1,531,250





Cash paid for
stock redemption


(150,000
)




Deferred
offering costs against capital


(25,927
)




Acquisition of
treasury stock


(1,151,672
)




Net cash flows provided by
financing
  activities


625,936


7,276


30,858Increase (decrease) in cash and
cash
  equivalents








Cash and cash equivalents,
beginning of
  period








Cash and cash equivalents, end
of period

$


$


$
Cash paid for interest and
income taxes




$


$
Supplemental noncash
investing and
  financing activities:Common stock
issued for services

$
48,400

$


$
Loans payable
converted to additional paid
  in capital

$
14,397

$


$
See condensed notes to financial statements.

3

CHINA ELITE INFORMATION CO., LTD.(A Development Stage Company)NOTES TO INTERIM FINANCIAL STATEMENTSNOTE 1  BASIS OF PRESENTATION AND
SIGNIFICANT ACCOUNTING POLICIES

The
accompanying unaudited financial statements have been prepared in conformity
with generally accepted accounting principles in the United States of America.
However, certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted accounting
principles have been omitted or condensed pursuant to the rules and regulations
of the Securities and Exchange Commission (SEC). In the opinion of
management, all adjustments of a normal recurring nature necessary for a fair
presentation have been included. The results for interim periods are not
necessarily indicative of results for the entire year. These condensed
financial statements and accompanying notes should be read in conjunction with
the Companys annual financial statements and the notes thereto for the fiscal
year ended November 30, 2007 included in its Annual Report on Form 10-KSB.

Loss Per Share

Basic earnings
or (loss) per share (EPS) is computed as net loss divided by the weighted
average number of shares outstanding during the period in accordance with
Statement of Financial Accounting Standards (SFAS) No. 128, Earnings Per
Share. Diluted EPS includes the effect from potential dilutive securities and
is equal to basic loss per share for all periods presented because there are no
potential dilutive securities. All per share and per share information is
adjusted retroactively to reflect stock splits and changes in par value.

NOTE 2  GOING CONCERN

The
accompanying unaudited financial statements have been prepared in conformity
with generally accepted accounting principles in the United States of America,
which contemplates continuation of the Company as a going concern.  However, the Company has limited operations
and has sustained substantial operating losses in recent years resulting in a
substantial accumulated deficit. The Companys cash requirements for working
capital have been satisfied through loans from its majority shareholder and the
Company expects to obtain additional capital through shareholder loans and/or a
debt or equity financing to continue its operations.  There is no assurance the Company will be successful in raising
the needed additional capital or that such additional funds will be available
for the Company on acceptable terms, if at all.  The Companys President has orally agreed to fund its operations
for the next twelve months, based on the Companys current level of
expenditures, as necessary.  However,
the Companys need for capital may change dramatically if it acquires a
suitable business opportunity during that period. In view of these matters, the
continued existence of the Company is dependent upon its ability to meet its
financing requirements on a continuing basis and to succeed in its future
operations.

Managements
plans are to identify and pursue profitable business opportunities through
mergers and acquisitions, so as to diversify the business risks and maximize
the returns to stockholders. Although the Company does not plan to limit its
options to any particular industry, the Company will initially target the
telecom industry in the Peoples Republic of China (PRC), including the Hong
Kong market.

4

To meet these
objectives, the Company plans to seek potential merger candidates and expects
to raise additional capital, through private equity and/or debt investment in
order to support existing operations and expand the range and scope of its
business.  There is no assurance that such
additional funds will be available for the Company on acceptable terms, if at
all.  Management believes that actions
presently taken to revise the Companys operating and financial requirements
provide the opportunity for the Company to continue as a going concern.  The Companys ability to achieve these
objectives cannot be determined at this time.
If the Company is unsuccessful in its endeavors, it may have to cease
operations.

NOTE 3  RELATED PARTY TRANSACTIONS

Amount due to
a stockholder of $407,888 at February 29, 2008 represents a series of advances
from the majority stockholder to fund working capital requirements.  There is no note and the amounts are
unsecured, interest-free, and repayable on demand.  The Companys President has orally agreed to fund the Companys
operations for at least the next twelve months.

NOTE 4  RECENT ACCOUNTING PRONOUNCEMENTS

In March 2008,
the FASB issued SFAS No. 161, Disclosures
about Derivative Instruments and Hedging Activities (SFAS 161).
SFAS 161 is intended to improve financial reporting about derivative
instruments and hedging activities by requiring enhanced disclosures to enable
investors to better understand their effects on an entitys financial position,
financial performance, and cash flows. SFAS 161 achieves these improvements by
requiring disclosure of the fair values of derivative instruments and their
gains and losses in a tabular format. It also provides more information about
an entitys liquidity by requiring disclosure of derivative features that are
credit risk-related. Finally, it requires cross-referencing within footnotes to
enable financial statement users to locate important information about
derivative instruments. SFAS 161 will be effective for financial statements
issued for fiscal years and interim periods beginning after November 15, 2008,
and will be adopted by the Company beginning in the first quarter of 2009. The
Company does not expect there to be any significant impact of adopting SFAS 161
on its financial position, cash flows and results of operations.

Other recent
accounting pronouncements issued by the FASB (including its Emerging Issues
Task Force (EITF)), the American Institute of Certified Public Accountants (AICPA),
and the SEC did not or are not believed by management to have a material impact
on the Companys present or future financial statements.

Item 2.
Managements Discussion and Analysis or Plan of OperationsPRELIMINARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS

The statements
contained in this Form 10-QSB that are not purely historical are
forward-looking statements.  These
include statements about the Companys expectations, beliefs, intentions or
strategies for the future, which are indicated by words or phrases such as anticipate,
expect, intend, plan, will, the Company believes, management
believes and similar words or phrases.
The forward-looking statements are based on the Companys current
expectations and are subject to certain risks, uncertainties and assumptions.  The Companys actual results could differ
materially from results anticipated in these forward-looking statements.  All forward-looking statements included in
this document are based on information available to the Company on the date
hereof, and the Company assumes no obligation to update any such
forward-looking statements.  Readers are
also urged to carefully review and consider the various disclosures made by the
Company that are to advise interested parties of the factors which affect the
Companys

5

business, in
this report, as well as the Companys periodic reports on Forms 10-KSB, 10-QSB
and 8-K filed with the Securities and Exchange Commission.

These risks
and uncertainties, many of which are beyond our control, include (i) the
sufficiency of existing capital resources and the Companys ability to raise
additional capital to fund cash requirements for future operations; (ii)
uncertainties involved in the acquisition of an operating business in targeted
industry and/or a targeted geographic region; (iii) the Companys ability to
achieve sufficient revenues through an operating business to fund and maintain
operations; (iv) volatility of the stock market; and (v) general economic
conditions.  Although the Company
believes the expectations reflected in these forward-looking statements are
reasonable, such expectations may prove to be incorrect.  Investors should be aware that they could
lose all or substantially all of their investment.

Critical Accounting Policies

Based on the
Companys current level of limited operations and development stage status, the
Company does not believe it has any critical accounting policies at this time.

Managements Plan of Operation

The Companys
plan of operation for the next twelve months is to identify and acquire a
favorable business opportunity. The Company does not plan to limit its options
to any particular industry, but will evaluate each opportunity on its merits.

The Company
has not yet entered into any agreement, nor does it have any commitment to
enter into or become engaged in any transaction as of the date of this filing.

The management
of the Company endeavors to identify and pursue profitable business
opportunities through mergers and acquisitions, so as to diversify the business
risks and maximize the returns to stockholders.  Although the Company does not plan to limit its options to any
particular industry, the Company will initially target the telecom industry in
the Peoples Republic of China (PRC), including the Hong Kong market.

The management
believes that, through the prospective mergers and acquisitions in the PRC, the
Company could accelerate its developing pace and benefit from the vast
opportunities brought by the continual growth in the PRC economy.

The Company
has no current plans to (i) purchase or sell any plant or equipment, (ii)
change the number of employees, or (iii) incur any significant research and
development expenses.  The Companys
plans may change if it is able to identify and acquire a suitable business
acquisiton.

Capital Resources and Liquidity

The Company
does not currently have any cash in its bank account or have any other
significant assets. However, the Company believes that, based on an oral
commitment from its President and majority shareholder to fund the Companys
operating activities at its current level of expenditures, it has sufficient
resources to meet the anticipated needs of its operations, such as maintaining
its required continuous disclosure and reporting requirements with the
Securities and Exchange Commission, for the next twelve months, though there
can be no assurances to that effect. The Company had no revenues for the three
months ended February 29, 2008 and its need for capital may change dramatically
if it acquires a suitable business opportunity during the next twelve months.
Therefore, the Company plans to rely on shareholder loans and the raising of
debt

6

or equity capital to continue its operations. There is no assurance the
Company will be successful in raising the needed capital.

We have incurred net losses
since inception, expect to incur losses in the future associated with the costs
of operating as a public company, and may never achieve revenues or
profitability unless we complete a successful merger. We are a development
stage company and have never recognized any revenue from the sale of products
or any other source. Our operating losses have had, and will continue to have,
an adverse impact on our working capital, total assets and stockholders
equity. We do not know when or if we will ever generate revenue or become
profitable because of the significant uncertainties with respect to our ability
to acquire a suitable business opportunity.

Off-Balance
Sheet Arrangements

The Company does not have
any off-balance sheet arrangements that have or are reasonably likely to have a
current or future effect on the Companys financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity, capital
expenditures or capital resources that is material to investors.

Item 3.
Controls and ProceduresEvaluation
of Disclosure Controls and Procedures

The Companys Chief Executive Officer and
Chief Financial Officer (the Certifying Officer) evaluated the effectiveness of our disclosure
controls and procedures as of
the end of the period covered by this report. Based on that evaluation, the
Certifying Officer concluded that our disclosure controls and procedures are
effective to ensure that information required to be disclosed by us in the
reports that we file or submit under the Exchange Act is (a) accumulated and
communicated to our management, including our Certifying Officer, as
appropriate to allow timely decisions regarding required disclosure; and (b)
recorded, processed, summarized and reported, within the time specified in the
SECs rules and forms. Since that evaluation process was completed, there have
been no significant changes in our disclosure controls or in other factors that
could significantly affect these controls.

Changes
in Internal Controls over Financial Reporting

There were no changes in our internal
controls over financial reporting identified in connection with this evaluation that occurred during the period covered by this report
that materially affected, or is
reasonably likely to materially affect, our internal control over financial
reporting.

PART II.
OTHER
 INFORMATIONItem 1.
Legal ProceedingsNone.Item 2.
Unregistered
 Sales of EquitySecuritiesand Use of ProceedsNone.7

Item 3.
Defaults Upon Senior SecuritiesNone.Item 4.
Submissionof Matters to a Voteof
Security HoldersNone.Item 5.
Other InformationNone.Item 6.
Exhibits(a)
Exhibits:Exhibit 31 -
Certification of
 President, Chief Executive Officer and Chief Financial Officer Pursuant to 18
 U.S.C. Section 1350, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley
 Act of 2002.Exhibit 32 - Certification
 of President, Chief Executive Officer and Chief Financial
 Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section
 906 of the Sarbanes-Oxley Act of 2002.8

SIGNATURES

Pursuant to the requirements of Sections 13
or 15(d) 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.

CHINA ELITE INFORMATION CO., LTD.Date: April 14, 2008

By
/s/ Li Kin ShingLi Kin ShingPresident and Chief Executive Officer9