UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB



[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2007
Or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

Commission file number: 333-127755


ASIA AUTOMOTIVE ACQUISITION CORPORATION


Delaware            20 -3022522

(State or other     (I.R.S. Employer
jurisdiction of     Identification No.)
incorporation or
organization)


199 Pierce Street, Suite 202 Birmingham, Michigan
(Address of principal executive offices)

48009
(Zip Code)

(248) 593-8330
Registrant's telephone number, including area code


Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months, and
(2) has been subject to such filing requirements for the
past 90 days. Yes [X]     No

Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, or a non-accelerated filer. See
definition of "accelerated filer and large accelerated filer" in
Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer  Accelerated filer Non-accelerated filer[X]

Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act).
Yes  No

As of October 22, 2007, 6,031,250 shares of the registrant's common
stock, par value $0.001 per share, were outstanding excluding.



ASIA AUTOMOTIVE ACQUSITION CORPORATION
Table of Contents

PART I-FINANCIAL INFORMATION

Item 1.      Condensed Financial Statements
                 Condensed Balance Sheet
                 Condensed Statements of Operations
                 Condensed Statements of Cash Flows
                 Notes to Condensed Financial Statements
Item 2       Management 's Discussion and Analysis of Financial Condition
             and Results of Operations
Item 3.      Quantitative and Qualitative Disclosures about Market Risk
Item 4.      Controls and Procedures


PART II-OTHER INFORMATION


Item 1.     Legal Proceedings
Item 2.     Unregistered Sales of Equity Securities and Use of Proceeds
Item 3.     Defaults Upon Senior Securities
Item 4.     Submission of Matters to a Vote of Security Holders
Item 5.     Other Information
Item 6.     Exhibits

SIGNATURES



Item 1. Financial Statements.

<TABLE>
Asia Automotive Acquisition Corporation
(a corporation in the development stage)
CONDENSED BALANCE SHEET
<CAPTION>
                                        September 30, 2007
                                        (unaudited)

                                        --------------

                                     <C>
ASSETS
Current assets
Cash and cash equivalents                       60,386

Other assets
Deferred income taxes                          358,377
Cash held in trust account                  39,192,048
                                        --------------
Total assets                                39,610,811
                                        --------------
LIABILITIES AND STOCKHOLDERS'
EQUITY

Current liabilities
Accrued expenses                               383,040
Warrant liability                            9,599,144
Deferred underwriter's fee                     966,121
                                        --------------
Total current liabilities                   10,948,305
                                        --------------
Common stock, subject to possible
redemption, 1,005,746 shares at
redemption value plus interest
income(net of taxes) of
$348,967                                     7,828,825

STOCKHOLDERS' EQUITY

Preferred stock, $.001 par
value, authorized 1,000,000
shares; none issued and
outstanding

Common stock, $.001 par                          6,380
value, authorized 39,000,000
shares; issued and outstanding
6,380,250 shares (of which
1,005,746 shares subject to
possible redemption)

Additional paid-in capital                   22,327,433

Deficit accumulated during the              (1,500,132)
development stage

Total stockholders' equity                   20,833,681
                                         --------------
Total liabilities and                        39,610,811
stockholders' equity                     --------------

</TABLE>

The accompanying notes are an intergral part of these
condensed consolidated financial statements.


<TABLE>
Asia Automotive Acquisition Corporation
(a corporation in the development stage)
CONDENSED STATEMENTS OF OPERATIONS


<CAPTION>
                   Three months            Nine months              June 20, 2005
                   ended September 30      ended September 30       (date ofinception)
                   2007         2006        2007        2006         to September 30, 2007
                  (unaudited)  (unaudited) (unaudited) (unaudited)  (unaudited)
                   $            $           $           $            $
                   ----------- ----------- ----------- -----------  -----------------
<S>                <C>         <C>         <C>         <C>          <C>

Interest              504,254     476,560    1,376,821     821,991         2,685,704
income, net

Gain (loss) on      2,258,883  (2,088,434)   1,567,419  (2,364,497)       (2,216,331)
warrant
Liability

Formation and         (87,682)   (303,242)    (589,632)   (407,153)       (1,061,825)
operating costs     __________  ___________ ___________ ___________  ________________

Gain (Loss)
before taxes        2,675,455  (1,915,116)   2,354,608  (1,949,659)         (592,452)

Income taxes          (90,410)    (23,124)    (100,604)   (144,025)         (558,713)
                    __________  ___________ ___________ ___________  ________________
Net gain (loss)     2,585,045  (1,938,240)   2,254,004  (2,093,684)       (1,151,165)

Interest
income
attributable
to common stock
subject to
possible
conversion
(net of
taxes)                 65,520       61,946     178,897      106,848          348,967

Net gain (loss)
allocable to
common
stockholders
not subject
to possible
conversion
(net of
taxes)               2,519,525  (2,000,186)   2,075,107 (2,200,532)       (1,500,132)

Weighted
average shares
outstanding
(basic and diluted)  6,380,250   6,380,250    6,380,250  4,401,045         4,554,003

Weighted average
shares outstanding
(diluted)            8,115,444   6,380,250    8,110,518  4,401,045         4,554,003
                     __________ ___________  ___________ ____________  ______________
Net gain (loss) per
share (basic)            .41       (.30)         .35        (.48)             (.25)

Net gain (loss) per
share (diluted)          .32       (.30)         .28        (.48)             (.25)

</TABLE>

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



<TABLE>
Asia Automotive Acquisition Corporation
(a corporation in the development stage)

CONDENSED STATEMENTS OF CASH FLOWS
<CAPTION>
                             Nine Months       Nine Months      June 20, 2005
                             Ended             Ended            (Date of Inception)
                             September 30,     September 30,    September 30,
                             2007              2006             2007
                             (unaudited)      (unaudited)      (unaudited)
                              $                $                $
                             -------------    --------------   -------------------
<S>                          <C>              <C>              <C>

Cash flows from
operating activities:

Net gain (loss)                2,254,004          (2,093,684)       (1,151,165)

Changes in operating
assets and liabilities:

Deferred tax benefit            (358,377)              -              (358,377)

Warrant liability             (1,567,419)          2,364,497         2,216,331

Income taxes                    (458,109)            144,025             -
Payable

Accrued expenses                 271,290            (185,119)          383,040
                              ____________      ______________  __________________

Net cash provided                141,389             229,719         1,089,829
by activities                 ____________      ______________  __________________

Net cash used in
investing activities:

Cash held in                    (465,165)        (38,241,322)      (39,192,048)
trust account                 ____________     _______________  __________________

Cash flows from
financing activities:

Proceeds from                       -                  20,250           45,250
note payable

Proceeds from
issuance of common                   -                   -              25,000
stock to existing
stockholders'

Proceeds from sale                   -                   100               100
of option to the
Underwriter

Gross proceeds of                    -            40,250,000	    40,250,000
public offering

Repayment of notes                   -               (45,250)          (45,250)
payable to
Stockholders

Payments of                          -            (1,749,143)       (2,112,495)
deferred offering
costs                         _____________     ________________  _________________

Net cash provided                    -            38,475,957        38,162,605
by financing
Activities                    _____________     ________________  _________________

Net increase                     (323,776)           464,354            60,386
(decrease)
in cash and cash
Equivalents

Cash and cash                     384,162             14,743             -
equivalents,
beginning of
Period

Cash and cash                      60,386            479,097            60,386
equivalents,
end of period                  _____________    ________________  _______________

Supplemental
disclosure of
non-cash financing
activity:

Deferred                                            1,207,500         1,207,500
underwriter's
fees                          ______________     _______________  _______________

Supplemental cash
flow disclosure:

Cash paid for taxes                907,000              -              907,000

</TABLE>

The accompanying notes are an intergral part of these
condensed consolidated financial statements.



1. BASIS OF PRESENTATION

The accompanying unaudited condensed financial
statements have been prepared by the Company and reflect
all adjustments, consisting only of normal recurring
adjustments, which are, in the opinion of management,
necessary for a fair presentation of the financial position
as of September 30, 2007 and the financial results for the three
and nine months ended September 30, 2007 and 2006 and the period
June 20, 2005 (date of inception) to September 30, 2007, in
accordance with accounting principles generally accepted in
the United States of America for interim financial
statements and pursuant to Form 10-QSB and Securities and
Exchange ("SEC") Regulation SB.

Certain financial information and footnote disclosure
normally included in financial statements prepared in
accordance with accounting principles generally accepted
in the United States of America have been condensed or
omitted pursuant to such rules and regulations. The results
of operations for the three and nine months ended September
30, 2007 are not necessarily indicative of the results of
operations to be expected for a full fiscal year. These
interim condensed financial statements should be read in
conjunction with the financial statements for the fiscal
year end December 31, 2006, which are included in the
Company's annual  report on form 10-KSB as filed with
the SEC.


2. ORGANIZATION AND BUSINESS OPERATIONS

Asia Automotive Acquisition Corporation (the "Company") was
incorporated in Delaware on June 20, 2005 as a blank check
company formed to acquire, through merger, capital stock
exchange, asset acquisition or other similar business
combination, a business in the automotive supplier industry.
The Company has neither engaged in any operations nor
generated revenues to date. The Company is considered
to be in the development stage as defined in Statement of
Financial Accounting Standards ("SFAS") No. 7, "Accounting
and Reporting by Development Stage Enterprises," and is
subject to the risks associated with activities of
development stage companies. The Company has elected
December 31st as its fiscal year end.

The registration statement for the Company's initial
public offering (the "Public Offering") was declared
effective on April 11, 2006. The Company consummated the
Public Offering on April 18, 2006 and received net proceeds
of approximately $ 37,171,000. The Company's management has
broad discretion with respect to the specific application
of the net proceeds of the Public Offering (the "Offering")
(as described in Note 4), although substantially all of the
net proceeds of the Offering are intended to be generally
applied toward consummating a business combination with a
target company. As used herein, a "target business" shall
include an operating business in the security industry and
a "business combination" shall mean the acquisition by the
Company of a target business.

Of the proceeds of the Offering, $37,418,000 (plus
interest income) is being held in a trust account ("Trust
Account") and invested until the earlier of (i) the
consummation of the first business combination or (ii) the
distribution of the Trust Account as described below. The
amount in the Trust Account includes $1,207,500 of
contingent underwriting compensation, which will be paid to
the underwriters if a business combination is consummated,
but which will be forfeited in part if public stockholders
elect to have their shares redeemed for cash if a business
combination is not consummated. Deferred underwriter's fee
is reflected on the balance sheet at  $966,121, an
additional $241,379 is included in common stock, subject to
possible conversion, for a total of $1,207,500.  The
remaining proceeds may be used to pay for business, legal
and accounting due diligence on prospective acquisitions
and continuing general and administrative expenses.

2. ORGANIZATION AND BUSINESS OPERATIONS (CONTINUED)

The Company, after signing a definitive agreement
for the acquisition of a target business, will submit such
transaction for stockholder approval. In the event that
public stockholders owning a majority of the outstanding
stock sold in the Offerings vote against the business
combination and elect to have the Company redeem their
shares for cash, including all of the officers and
directors of the Company ("Initial Stockholders"), have
agreed to vote their 1,349,000 founding shares of common
stock in accordance with the vote of the majority in
interest of all other stockholders of the Company with
respect to any business combination and to vote any shares
they acquire in the aftermarket in favor of the business
combination. After consummation of the Company's first
business combination, all of these voting safeguards will
no longer be applicable.

With respect to the first business combination which
is approved and consummated, any holder of shares sold in
the Public Offering, other than the Initial Stockholders
and their nominees (the "Public Stockholders") who voted
against the business combination may demand that the
Company redeem his or her shares. The per share redemption
price will equal $7.44 per share plus interest earned
thereon in the Trust Account. Accordingly, Public
Stockholders holding 19.99% of the aggregate number of
shares sold in this offering and the private placement may
seek redemption of their shares in the event of a business
combination.

The Company's Certificate of Incorporation provides
for mandatory liquidation of the Company, without
stockholder approval, in the event that the Company does
not consummate a business combination within 18 months from
the date of consummation of the Public Offering, or 24
months from the consummation of the Public Offering if
certain extension criteria have been satisfied. The Initial
Stockholders have waived their right to liquidation
distributions with respect to the shares of common stock
included in such units. Accordingly, in the event of such
liquidation, the amount in the Trust Account will be
distributed to the holders of the shares sold in the Public
Offering.


3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Common stock:

On January 23, 2006, the Company effected a stock
split in the form of a dividend of .233 shares of common
stock for each outstanding share of common stock.  All
references in the accompanying financial statements to the
number of shares of common stock and loss per share have
been retroactively restated to reflect these transactions.

Warrant liability:

The Company has outstanding warrants, which provides
for the Company to register the shares underlying the
warrants and is silent as to the penalty to be incurred in
the absence of the Company's ability to deliver registered
shares to the warrant holders upon warrant exercise. Under
EITF No. 00-19 "Accounting for Derivative Financial
Instruments Indexed to, and Potentially Settled in, a
Company's Own Stock" ("EITF No. 00-19"), registration of
the common stock underlying the Company's warrants is not
within the Company's control.  As a result, the company
must assume that it could be required to settle the warrants
on a net-cash basis, thereby necessitating the treatment of
the potential settlement obligation as a liability. Further
EITF No. 00-19, requires the Company to record the potential
settlement liability at each reporting date using the current
estimated fair value of the warrants, with any changes
being recorded through the Company's statement of operations.
The potential settlement obligation related to the warrants
will continue to be reported as a liability until such time
that the warrants are exercised, expire, or the Company is
otherwise able to modify the registration requirements in
the warrant agreement to remove the provisions which require
this treatment.

Fair Value of financial instruments:

The fair value of the Company's assets and liabilities,
which qualify as financial intruments under SFAS 107,
"Disclosure About Fair Value of Financial Intruments,"
approximates the carrying amounts represented in the
condensed balance sheet.


3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Net income (Loss) per common share:

Net income (loss) per common share is based on the weighted
average number of common shares outstanding. The Company complies
with SFAS No. 128, "Earnings Per Share."  SFAS No. 128 requires
dual presentation of basic and diluted income per share for all
periods presented.  Basic income (loss) per share excludes
dilution and is computed by dividing income available to common
stockholders by the weighted average number of common shares
outstanding for the period. Diluted net income per share reflects
the potential dilution that could occur if securities or other
contracts to issue common stock were exercised or converted
into common stock or resulted in the issuance of common stock
that then share in the income of the Company.

Use of estimates:

The preparation of financial statements in conformity with
accounting principles generally accepted in the United States
of America requires management to make estimates and assumptions
that affect the reported amounts of contingent assets and
contingent liabilities at the date of the financial statements
and the reported amounts of expenses during the reporting period.
Actual results could differ from those estimates.

Income taxes:

The Company complies with the Financial Accounting Standards
Board ("FASB") SFAS 109, "Accounting for Income Taxes," which
requires an asset and liability approach to financial accounting
and reporting for income taxes.  Deferred income tax assets and
liabilities are computed for differences between the financial
statement and tax bases of assets and liabilities that will result
in future taxable or deductible amounts, based on enacted tax
laws and rates applicable to the periods in which the differences
are expected to affect taxable income.  Valuation allowances are
established, when necessary, to reduce deferred tax assets to
the amount expected to be realized.  As of September 30, 2007 no
valuation allowance has been established on the deferred tax
asset of $358,000.

Effective January 1, 2007, the Company adopted the
provisions of the Financial Accounting Standards Board
("FASB") Interpretation No. 48, "Accounting for Uncertainty
in Income Taxes-an interpretation of FASB Statement
No. 109" ("FIN 48"). There were no unrecognized tax
benefits as of January 1, 2007 and as of September 30, 2007.
FIN 48 prescribes a recognition threshold and a measurement
attribute for the financial statement recognition and
measurement of tax positions taken or expected to be taken
in a tax return.  For those benefits to be recognized, a
tax position must be more-likely-than-not to be sustained
upon examination by taxing authorities.  The Company
recognizes accrued interest and penalties related to
unrecognized tax benefits as income tax expense.  No
amounts were accrued for the payment of interest and
penalties at January 1, 2007. There was no change to this
balance at September 30, 2007.  Management is currently unaware
of any issues under review that could result in significant
payments, accruals or material deviations from its
position. The adoption of the provisions of FIN 48 did not
have a material impact on the Company's financial position,
results of operations and cash flows.

Cash and cash equivalents:

The Company considers all highly liquid investments
purchased with an original maturity of three months or less
to be cash equivalents.

Recently issued accounting standards:

In September 2006, the Statement of Financial Accounting
Standard No. 157, Fair Value Measurements  ("SFAS 157"), was
issued and is effective for fiscal years beginning after
November 15, 2007. SFAS 157 defines fair value, establishes
a framework for measuring fair value and expands disclosures
about fair value measurements. Management is currently
evaluating the impact the adoption of


3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

SFAS 157 will have on the Company's financial statements
and their disclosures and its impact has not yet been
determined.

4. THE OFFERING

On April 18, 2006, the Company sold 5,031,250 units
(including the underwriters full exercise of an over
allotment option with respect to 656,250 units) to the
public at a price of $8.00 per unit. Each unit consists of
one share of the Company's common stock, $0.001 par value,
and one redeemable common stock purchase warrant
("warrant"). Each warrant entitles the holder to purchase
from the Company one share of common stock at an exercise
price of $5.00 commencing the later of the completion of a
business combination with a target business or April 10,
2007 and expiring April 11, 2012.  The warrants are
redeemable at a price of $.01 per warrant upon 30 days
notice after the warrants become exercisable, only in the
event that the last sale price of the common stock is at
least $10.00 per share for any 20 trading days within a 30
trading day period ending three business days before we
send the notice of redemption.

5. INCOME TAXES

Income tax expense for the three and nine months
ended September 30, 2007 and the period from June 20, 2005
(date of inception) to September 30, 2007 was approximately
$90,000, $101,000, and $559,000, respectively, which is
net of the expense for current federal income taxes and the
deferred tax benefit recorded for the three and nine months
ended September 30, 2007 and the period from June 20, 2005
(date of inception) to September 30, 2007.

The Company has not begun its trade or business for U.S. tax
purposes.  Accordingly, it could not yet recognize losses for
start-up expenditures.  As a result a deferred tax asset of
approximately $358,000 at September 30, 2007 was established
for these start-up expenditures.

6. COMMITMENTS AND RELATED PARTY TRANSACTIONS

The Company presently occupies office space provided
by Asia Development Capital LLC ("ADC"), an affiliate and
stockholder of the Company.  ADC has agreed that, until the
Company consummates a business combination, it will make
such office space, as well as certain office and
secretarial services, available to the Company, as may be
required by the Company from time to time.  The Company has
agreed to pay such affiliate $7,500 per month for such
services commencing on the effective date of the Offering,
April 18, 2006.

The Company has engaged Rodman & Renshaw LLC, ("the
representative of the underwriters"), on a non-exclusive
basis, as the Company's agent for the solicitation of the
exercise of the warrants.  To the extent not inconsistent
with the guidelines of the NASD and the rules and
regulations of the SEC, the Company has agreed to pay the
representative for bona fide services rendered a commission
equal to 2.5% of the exercise price for each warrant
exercised more than one year after the date of the
prospectus if the exercise was solicited by the
underwriters.  In addition to soliciting, either orally or
in writing, the exercise of the warrants, the
representative's services may also include disseminating
information, either orally or in writing, to warrant
holders about the Company or the market for our securities,
and assisting in the processing of the exercise of the
warrants.  No compensation will be paid to the
representative upon the exercise of the warrants if:

* the market price of the underlying shares of common stock
  is lower than  the exercise price;
* the holder of the warrants has not confirmed in writing
  that the underwriters solicited the exercise;
* the warrants are held in a discretionary account;

6. COMMITMENTS AND RELATED PARTY TRANSACTIONS (CONTINUED)

* the warrants are exercised in an unsolicited transaction;
  or
* the arrangement to pay the commission is not disclosed in
  the prospectus provided to warrant holders at the time
  of exercise.

The Company has sold to the representative of the
underwriters, for $100, as additional compensation, an
option to purchase up to a total of 350,000 units at a per-
unit price of $10.00.  The units issuable upon

exercise of this option are also identical to those offered
by the Offering except that the warrants included in the
option have an exercise price of $6.65 (133% of the
exercise price of the warrants included in the units sold
in the offering.) The Company will pay the underwriters in
the Offering an underwriting discount of 7% of the gross
proceeds of this Offering (of which 3% is deferred until
the consummation of a business combination).

The sale of the option will be accounted for as an
equity transaction. Accordingly, there will be no net
impact on the Company's financial position or results of
operations, except for the recording of the $100 proceeds
from the sale.  The Company has determined, based upon a
Black-Scholes model, that the fair value of the option on
the date of sale would be approximately $3.10 per unit, or
$1,086,001 total, using an expected life of five years,
volatility of 45.47% and a risk-free interest rate of
4.39%.

The volatility calculation of 45.47% is based on the
365-day average volatility of a representative sample of
ten (10) companies with market capitalizations under $500
million that management believes to be engaged in the
business of auto component parts (the "Sample Companies").
Because the Company does not have a trading history, the
Company needed to estimate the potential volatility of its
common stock price, which will depend on a number of
factors which cannot be ascertained at this time.  The
Company referred to the 365-day average volatility of the
Sample Companies because management believes that the
average volatility of such companies is a reasonable
benchmark to use in estimating the expected volatility of
the Company's common stock post-business combination.
Although an expected life of five years was taken into
account for purposes of assigning a fair value to the
option, if the Company does not consummate a business
combination within the prescribed time period and
liquidates, the option would becomeworthless.

Pursuant to letter agreements with the Company and
the Representative of the underwriters, the Initial
Stockholders have waived their right to receive
distributions with respect to their founding shares upon
the Company's liquidation.

Certain of the Company's officers, directors, or
their designees have agreed with the Representative that
upon consummation of the Offering and during the 45 trading
day period commencing on the later of the date that the
securities comprising the units begin separate trading or
60 days following the consummation of the Offering, that
they will purchase up to 320,000 warrants in the public
marketplace at prices not to exceed $1.40 per warrant. As
of September 30, 2007, William R Herren, Mr. Rudy Wilson,and
Chun Hao held 290,000 warrants to purchase the Company's
securities.

The Initial Stockholders will be entitled to registration
rights with respect to their founding shares pursuant to
an agreement to be signed prior to or on the effective
date of the Offering.  The holders of the majority of these
shares are entitled to make up to two demands that the
Company register these shares at any time commencing three
months prior to the third anniversary of the effective date
of the Offering. In addition, the Initial Stockholders have
certain "piggy-back" registration rights on registration
statements filed subsequent to the third anniversary of the
effective date of the Offering.

Rodman & Renshaw has entered into a letter agreement with us
pursuant to which it agreed to purchase up to 125,000
warrants in the public marketplace at prices not to exceed
$1.40 per warrant during the 45 trading day period commencing
on the later of the date separate trading of the warrants has
commenced or 60 days following the consummation of this
offering.

6. COMMITMENTS AND RELATED PARTY TRANSACTIONS (CONTINUED)

Chardan Capital Markets has entered into a letter
agreement with us pursuant to which it agreed to purchase
up to 125,000 warrants in the public marketplace at prices
not to exceed $1.40 per warrant during the 45 trading day
period commencing on the later of the date separate trading
of the warrants has commenced or 60 days following the
consummation of this offering.

On February 8, 2006, five stockholders entered
into five separate letter agreements with the
Representatives of the underwriters pursuant to which they
agreed to purchase in aggregate up to $2,000,000 in
warrants at prices not to exceed $1.40 per warrant during
the 45 day trading period commencing on the later of the
date separate trading of the warrants has commenced or 60
calendar days following the consummation of the Offering.
These entities have agreed that any warrants purchased by
them pursuant to this agreement will not be sold or
transferred until after a completed business combination.
As of September 30, 2007, these five stockholders held
20,000 warrants to purchase the Company's securities.

7. PREFERRED STOCK

The Company is authorized to issue 1,000,000 shares
of preferred stock with such designations, voting and other
rights and preferences as may be determined from time to
time by the Board of Directors.

8. SUBSEQUENT EVENT

On July 19, 2007, at a meeting of the Company's Board of
Directors ("BOD") at which a quorum was present, legal counsel
for Hunan TX Enterprise Co Ltd. ("TX") informed the Board that
registration of TX has been completed with the local Chinese
government authorities, permitting the execution of the Equity
Acquisition Agreement ("EAA") on July 24, 2007. The Board
deemed it appropriate to make a public announcement by the
filing of a Form 8K with the SEC on JUly 24, 2005. Pursuant
to EAA the Company, which shall be renamed TX International,
Ltd. ("TI") and redomesticated as a British Virgin Islands
Company, would merge with TI resulting in TX becoming a wholly
owned subsidiary of the TI. At the closing of the acquisition,
the stockholders of TX will receive $13.0 million in cash.
Additionally, the Company and TX executed a Key Employee
Employment Agreement and Performance Earn-Out Agreement which
will provide for certain retention and incentive bonuses.The
closing of the acquisition is subject to certain conditions,
including the approval of the transaction by the majority
of the Company's stockholders and that fewer than 20% of
the Company's stockholders exercise their right to redeem
their shares of common stock for cash.

On August 10, 2007, the Company was informed by legal counsel
for TX that the Changsha Ministry of Commerce had approved the
EAA previously executed among and between the Company and TX on
July 24, 2007.The Board deemed it appropriate to make a public
announcement by the filing of a Form 8K with the SEC on August
13, 2007

On August 29, 2007 at a meeting of the Company's BOD, the
directors approved an amendment of the Company's By-Laws to
allow the BOD (by simple majority) rather than shareholders
to remove a director. Pusuant to this amendment Mr. Vinit Bansal
and Mr. Chun Hao as Class A directors were not nominated for
reelection.

On September 18, 2007 the Company filed a Form 8K with the SEC
stating its intent to commence holding presentations for its
stockholders regarding its proposed acquisition of TX as
described in AAAC's Current Reports on Form 8-K dated July 25,
2007, and August 13, 2007.

On September 20, 2007 the Company's BOD met to consider Proposals
for a special meeting of shareholders pursuant to the acquisition.
After careful consideration, the BOD determined  unanimously that
each of the Equity Acquisition Proposal and the Redomestication
merger Proposal is fair to and in the best interests of AAAC and
its stockholders. AAAC's BOD has approved and  declared advisable
the Equity Acquisition Proposal and the Redomestication  merger
proposal and unanimously recommends that the shareholders vote or
give instructions to vote "FOR" each of the Proposals to adopt
the Equity Acquistion Proposal and the Redomestication merger
Proposal. Subsequently, the Company filed a Schedule 14(a)
Preliminary Proxy Statement with the SEC for a special meeting
of shareholders to be held to consider AAAC's pending acquisition
of TX. The Preliminary Proxy Statement is subject to SEC review.
The date of the special meeting of shareholders and the record
date for the meeting will be specified in a definitive proxy
statement to be mailed to shareholders following such review.


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

This Quarterly Report on Form 10-QSB includes
forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.  We
have based these forward-looking statements on our current
expectations and projections about future events. These
forward-looking statements are subject to known and unknown
risks,uncertainties and assumptions about us that may cause
our actual results, levels of activity, performance or
achievements to be materially different from any future
results, levels of activity, performance or achievements
expressed or implied by such forward-looking statements.
In some cases, you can identify forward-looking statements
by terminology such as "may," "should," "could,"
"would,""expect," "plan," "anticipate," "believe,"
"estimate," "continue," or the negative of such terms or
other similar expressions. Factors that might cause or
contribute to such a discrepancy include, but are not
limited to, those described in our other Securities and
Exchange Commission filings. The following discussion
should be read in conjunction with our Financial Statements
and related Notes thereto included elsewhere in this
report.

We were formed on June 20, 2005, to serve as a vehicle to
effect a merger, capital stock exchange, asset acquisition
or other similar business combination with an operating
business.  Our initial business combination must be with
a target business or businesses whose fair market value
is at least equal to 80% of net assets at the time of such
acquisition.  We intend to utilize cash derived from the
proceeds of our recently completed public offering, our
capital stock, debt or a combination of cash, capital stock
and debt, in effecting a business combination.

Since our initial public offering, we have been actively
engaged in sourcing a suitable business combination candidate.
We have met with target companies, service professionals and
other intermediaries to discuss with them our company, the
background of our management and our combination preferences.
In the course of these discussions, we have also spent time
explaining the capital structure of the initial public
offering, the combination approval process, and the timeline
under which we are operating before the proceeds of the
offering are returned to investors.

Most of the activity from June 20, 2005 (inception) to June
30, 2007 relates to the Company's formation and public
offering described below.

Nine Months Ended September 30, 2007

For the nine months ended September, 2007, we had a
net gain of approximately $2,254,000 consisting of interest
income of approximately $1,377,000, a gain on warrant
liability of approximately $1,567,000 and formational
operating costs of approximately $590,000. Interest income
is derived primarily from investment of our cash balances
held in trust, which aggregated approximately $39,192,000
at Setpember 30, 2007. The cash balance held in trust is
invested primarily in treasury bills.

Three Months Ended September 30, 2007

For the three months ended September 30, 2007, we had a
net gain of approximately $2,585,000 consisting of interest
income of approximately $504,000, a gain on warrant
liability of approximately $2,259,000 and formational
operating costs of approximately $88,000. Interest income
is derived primarily from investment of our cash balances
held in trust, which aggregated approximately $39,192,000
at September 30, 2007. The cash balance held in trust is
invested primarily in treasury bills.

Nine Months Ended September 30, 2006

For the nine months ended September 30, 2006, we had a net
loss of approximately $2,094,000 consisting of interest
income of approximately $822,000 offset by a loss on
warrant liability of $2,364,000 and formational operating
costs of approximately $407,000. Interest income is derived
primarily from investment of our cash balances held in
trust, which aggregated approximately $38,240,000 at
September 30, 2006. The cash balance held in trust is
invested primarily in treasury bills.

Three Months Ended September 30, 2006

For the three months ended September 30, 2006, we had a net
loss of approximately $1,938,000, consisting of interest
income of approximately $477,000 offset by a loss on
warrant liability of approximately $2,088,000 and formational
operating costs of approximately $303,000. Interest income
is derived primarily from investment of our cash balances
held in trust, which aggregated approximately $38,240,000 at
September 30, 2006. The cash balance held in trust is
invested primarily in treasury bills.


LIQUIDITY AND CAPITAL RESOURCES

On April 19, 2006, we consummated our initial public
offering of 5,031,250 units including an additional 656,250
units that were subject to the underwriters' over-allotment
option. Each unit consists of one share of common stock and
one redeemable common stock purchase warrant.  Each warrant
entitles the holder to purchase from us one share of our
common stock at an exercise price of $5.00.

Of the proceeds of the Offering, $37,418,000 (plus interest
expense) is being held in a trust account ("Trust Account")
and invested until the earlier of (i) the consummation of
the first business combination or (ii) the distribution of
the Trust Account as described below. The amount in the
Trust Account includes $1,207,500 of contingent underwriting
compensation, which will be paid to the underwriters if a
business combination is consummated, but which will be
forfeited in part if public stockholders elect to have their
shares redeemed for cash if a business combination is not
consummated. Deferred underwriter's fee is reflected on the
balance sheet at  $966,121, an additional $241,379 is
included in common stock, subject to possible conversion,
for a total of $1,207,500.  The remaining proceeds may be
used to pay for business, legal and accounting due diligence
on prospective acquisitions and continuing general and
administrative expenses.

We pay Asia Development Capital LLC., an affiliate,
an aggregate fee of $7,500 per month which includes the
cost of the office space and the cost of other general and
administrative services provided to us by such affiliate.

Item 3. CONTROLS AND PROCEDURES

Under the supervision and with the participation of management,
including our Chief Executive Officer and Chief Financial Officer,
we conducted an evaluation of the Company's effectiveness of
disclosure controls and procedures (as defined in Rule 13a-15(e)
under the Securities Exchange Act of 1934, as amended
(the "Exchange Act") as of the end of the period covered by
this Quarterly Report on Form 10-QSB. Based on that evaluation,
the Chief Executive Officer and Chief Financial Officer concluded
that our disclosure controls and procedures have not been
operating effectively as of the end of the period covered by
this report.

In connection with the preparation of our Report of Form 10-QSB,
management identified a material weakness, due to an insufficient
number of resources in the accounting and finance department,
resulting in (i) an ineffective review, monitoring and analysis
of schedules, reconciliations and financial statement disclosures
and (ii) the misapplication of U.S. GAAP and SEC reporting
requirements.Due to the pervasive effect of the lack of resources,
including a lack of resources that are appropriately qualified in
the areas of U.S. GAAP and SEC reporting, and the potential impact
on the financial statements and disclosures and the importance of
the annual and interim financialclosing and reporting process,
in the aggregate, there is more than a remote likelihood that
a material misstatement of the annual financial
statements would not have been prevented or detected.

There has not been any change in our internal control over
financial reporting in connection with the evaluation required
by Rule 13a-15(d) under the Exchange Act that occurred during the
quarter ended September 30, 2007, that has materially affected,
or is reasonably likely to materially affect, our internal
control over financial reporting.


PART II-OTHER INFORMATION

Item 1. LEGAL PROCEEDINGS

There are no material legal proceedings pending against us.


Item 2 DEFAULTS UPON SENIOR SECURITIES

Not Applicable


Item 3. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF
        PROCEEDS

Not Applicable


Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

Not Applicable.


Item 5. OTHER INFORMATION

Not Applicable.


Item 6. EXHIBITS


Exhibit No.  Description of Exhibits

31.1         Section 302 Certification of Principal
             Executive Officer
32.1         Section 906 Certification


SIGNATURES

Pursuant to the requirements of Section 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.

Date: November 14, 2007

By: /s/William R. Herren
       William R. Herren
       Chairman
(Principal Executive Officer)

By: /s/Rudy Wilson
       Rudy Wilson
       Chief Executive Officer
(Principal Executive Officer)

By: /s/David J. Brophy
       David J. Brophy
       Chief Financial Officer

(Principal Financial and Accounting Officer)



Exhibit 31.1 CERTIFICATION BY PRINCIPAL EXECUTIVE OFFICER

I, William R. Herren, certify that:

1. I have reviewed this Quarterly Report on Form 10-QSB of
   Asia Automotive Acquisition Corporation;

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

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

4. The registrant's other certifying officers and I are
   responsible for establishing and maintaining disclosure
   controls and procedures (as defined in Exchange Act
   Rules 13a-15(e) and 15d-15(e)) for the registrant and
   we have:

   a) designed such disclosure controls and procedures,
      or caused such disclosure controls and procedures
      to be designed under our supervision, to ensure that
      material information relating to the registrant,
      including its consolidated subsidiaries, is made
      known to us by others within those entities,
      particularly during the period in which this report
      is being prepared;

   b) evaluated the effectiveness of the registrant's
      disclosure controls and procedures and presented in
      this report our conclusions about the effectiveness
      of the disclosure controls and procedures, as of the
      end of the period covered by this report based on
      such evaluation; and

   c) disclosed in this report any change in the
      registrant's internal control over financial
      reporting that occurred during the registrant's
      most recent fiscal quarter (the registrant's
      fourth fiscal quarter in the case of an annual
      report) that has materially affected, or is
      reasonably likely to materially affect, the
      registrant's internal control over financial
      reporting; and

5. The registrant's other certifying officers and I have
   disclosed,based on our most recent evaluation of
   internal control over financial reporting, to the
   registrant's auditors and the audit committee of the
   registrant's board of directors (or persons performing
   the equivalent functions):

   a) all significant deficiencies and material weaknesses
      in the design or operation of internal control
      over financial reporting which are reasonably likely
      to adversely affect the registrant's ability to
      record, process, summarize and report financial
      information; and

   b) any fraud, whether or not material, that involves
      management or other employees who have a significant
      role in the registrant's internal control over
      financial reporting.

Dated: November 14, 2007

/s/ William R. Herren
    William R. Herren

Chairman of the Board

Exhibit 32.1   CERTIFICATION

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
(Subsections (a) and (b) of Section 1350, Chapter 63 of
Title 18, United States Code)

Pursuant to section 906 of the Sarbanes-Oxley Act of 2002
(subsections (a) and (b) of section 1350, chapter 63 of
title 18, United States Code), each of the undersigned
officers of Asia Automotive Acquisition Corporation, a
Delaware corporation (the "Company"), does hereby certify,
to such officer's knowledge, that:

The Quarterly Report on Form 10-QSB for the quarter ended
September 30, 2007 (the "Form 10-QSB") of the Company fully
complies with the requirements of section 13(a) or 15(d) of
the Securities Exchange Act of 1934, and information
contained in the Form 10-QSB fairly presents, in all
material aspects, the financial condition and results
of operations of the Company.

Dated: November 14, 2007
      /s/William R. Herren
         William R. Herren
         Chairman of the Board

      /s/Rudy Wilson
         Rudy Wilson
         Chief Executive Officer

     /s/David J. Brophy
        David J. Brophy
        Chief Financial Officer

A signed original of this written statement required by
Section 906 has been provided to the Company and will be
retained by the Company and furnished to the Securities and
Exchange Commission or its staff upon request.



Exhibit No. 	Description of Exhibits

31.1            Section 302 Certification of Principal
                Executive Officer
32.1            Section 906 Certification