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

|  o | TRANSITION      REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE  ACT |
|---------|-----------------------------------------------------------------------|

| Nevada                                                                   |   | 20-2190950                                  |
|--------------------------------------------------------------------------|--------|---------------------------------------------|
| (State      or other jurisdiction of incorporation      or organization) |   | (IRS      Employer Identification      No.) |

| Large      Accelerated Filer o | Accelerated      Filer o | Non-Accelerated      Filer o | Smaller      Reporting Company x  |
|--------------------------------|--------------------------|------------------------------|----------------------------------------|

----

| PART      I FINANCIAL INFORMATION                                               |   | 3      |
|---------------------------------------------------------------------------------|--------|--------|
|                                                                            |   |   |
| ITEM      1. FINANCIAL STATEMENTS                                               |   | 3      |
|                                                                            |   |   |
| ITEM      2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF    OPERATION |   | 4      |
|                                                                            |   |   |
| ITEM      3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET    RISK      |   | 13     |
|                                                                            |   |   |
| ITEM      4. CONTROLS AND PROCEDURES                                            |   | 14     |
|                                                                            |   |   |
| PART      II OTHER INFORMATION                                                  |   | 15     |
|                                                                            |   |   |
| ITEM      1. LEGAL PROCEEDINGS                                                  |   | 15     |
|                                                                            |   |   |
| ITEM      1A. RISK FACTORS                                                      |   | 15     |
|                                                                            |   |   |
| ITEM      2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF    PROCEEDS     |   | 15     |
|                                                                            |   |   |
| ITEM      3. DEFAULTS UPON SENIOR SECURITIES                                    |   | 15     |
|                                                                            |   |   |
| ITEM      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITYHOLDERS                 |   | 15     |
|                                                                            |   |   |
| ITEM      5. OTHER INFORMATION                                                  |   | 15     |
|                                                                            |   |   |
| ITEM      6. EXHIBITS                                                           |   | 16     |
|                                                                            |   |   |
| SIGNATURES                                                                      |   | 19     |
|                                                                            |   |   |
| EXHIBIT      31.1                                                               |   |   |
|                                                                            |   |   |
| EXHIBIT      31.2                                                               |   |   |
|                                                                            |   |   |
| EXHIBIT      32.1                                                               |   |   |
|                                                                            |   |   |
| EXHIBIT      32.2                                                               |   |   |

----

|                                                                                                    |   | Page   |
|---------------------------------------------------------------------------------------------------------|--------|--------|
| Unaudited      Condensed Consolidated Statements of Operations and Other      Comprehensive Income |   | F-1    |
|                                                                                                    |   |   |
| Unaudited      Condensed Consolidated Balance Sheets                                                    |   | F-2    |
|                                                                                                    |   |   |
| Unaudited      Condensed Consolidated Statements of Changes in Stockholders’      Equity          |   | F-4    |
|                                                                                                    |   |   |
| Unaudited      Condensed Consolidated Statements of Cash Flows                                          |   | F-5    |
|                                                                                                    |   |   |
| Notes      to and Forming Part of Unaudited Condensed Consolidated Financial      Statements            |   | F-6    |

----

|                                                   |   |   |   |   | Three      months ended June      30 |    |
|--------------------------------------------------------|--------|--------|--------|--------|--------------------------------------|---------|
|                                                   |   | Note   |   |   | 2009                                 |    |   | 2008 |   |
|                                                   |   |        |   |   | US$’000                        |    |   | US$’000 |   |
| Operating      revenues:                               |   |   |   |   |                                 |    |   |   |   |
| Net sales to third      parties                        |   |   |   |   |                                 | 29,475  |   |   |   | 22,225 |   |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |
| Cost      of sales                                     |   |   |   |   |                                 | (24,105 | ) |   |   | (18,195 | ) |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |
| Gross      income                                      |   |   |   |   |                                 | 5,370   |   |   |   | 4,030 |   |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |
| Operating      expenses:                               |   |   |   |   |                                 |    |   |   |   |   |   |
| Sales, marketing and      distribution                 |   |   |   |   |                                 | (1,787  | ) |   |   | (1,105 | ) |
| General and      administrative                        |   |   |   |   |                                 | (1,056  | ) |   |   | (612 | ) |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |
| Operating      income                                  |   |   |   |   |                                 | 2,527   |   |   |   | 2,313 |   |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |
| Other      income, net                                 |   |   |   |   |                                 | 147     |   |   |   | 206 |   |
| Interest      income                                   |   |   |   |   |                                 | 55      |   |   |   | 7 |   |
| Interest      expense                                  |   |   |   |   |                                 | (369    | ) |   |   | (286 | ) |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |
| Income      before income taxes                        |   |   |   |   |                                 | 2,360   |   |   |   | 2,240 |   |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |
| Income      taxes expenses                             |   |   | 4      |   |                                 |    | (355 | ) |   |   | (328 | ) |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |   |
| Net      income                                        |   |   |   |   |                                 |    | 2,005 |   |   |   | 1,912 |   |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |   |
| Other      comprehensive income                        |   |   |   |   |                                 |    |   |   |   |   |   |   |
| Foreign      currency translation adjustment           |   |   |   |   |                                 |    | 1 |   |   |   | 226 |   |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |   |
| Comprehensive      income                              |   |   |   |   |                                 |    | 2,006 |   |   |   | 2,138 |   |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |   |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |   |
|                                                   |   |   |   |   |                                 | Shares  |   |   | Shares |   |
| Earnings      per share                                |   |   |   |   |                                 |    |   |   |   |   |   |   |
| Weight      average number of common stock outstanding |   |   |   |   |                                 |    |   |   |   |   |   |   |
|     -      basic and diluted       |   |   | 3      |   |                                 |    | 50,000,000 |   |   |   | 50,000,000 |   |
|                                                   |   |   |   |   |                                 |    |   |   |   |   |   |   |
|                                                   |   |   |   |   |                                 | US$     |   |   | US$ |   |
| Net      income per share of common stock outstanding  |   |   |   |   |                                 |    |   |   |   |   |   |   |
|     -      basic and diluted       |   |   |   |   |                                 |    | 0.04 |   |   |   | 0.04 |   |

----

|                                       |   |   |   |   |             |   |   | (Audited)           |   |
|--------------------------------------------|--------|--------|--------|--------|------------------|--------|--------|---------------------|--------|
|                                       |   |   |   |   | As      of       |   |   | As      of          |   |
| ASSETS                                     |   | Note   |   |   | June 30,    2009 |   |   | March      31, 2009 |   |
|                                       |   |   |   |   | US$’000    |   |   | US$’000       |   |
| Current      assets:                       |   |   |   |   |             |   |   |                |   |
| Cash      and cash equivalents             |   |   |   |   |             | 9,085  |   |                |   | 2,620 |   |
| Restricted      bank balances              |   |   | 5      |   |             |   | 18,554 |                |   |   | 13,878 |   |
| Other      financial assets                |   |   | 6      |   |             |   | 2,136  |                |   |   | 1,314 |   |
| Accounts      receivable, net              |   |   |   |   |             |   | 34,938 |                |   |   | 35,023 |   |
| Other      receivables                     |   |   |   |   |             |   | 914    |                |   |   | 842 |   |
| Prepayments                                |   |   |   |   |             |   | 2,285  |                |   |   | 862 |   |
| Due      from related parties              |   |   | 14     | (b)    |             |   | 853    |                |   |   | 474 |   |
| Inventories                                |   |   | 7      |   |             |   | 21,767 |                |   |   | 17,135 |   |
|                                       |   |   |   |   |             |   |   |                |   |   |   |   |
| Total      current assets                  |   |   |   |   |             |   | 90,532 |                |   |   | 72,148 |   |
|                                       |   |   |   |   |             |   |   |                |   |   |   |   |
| Available-for-sale      financial assets   |   |   | 8      |   |             |   | 878    |                |   |   | 878 |   |
| Long-term      land lease prepayments, net |   |   |   |   |             |   | 605    |                |   |   | 608 |   |
| Property,      plant and equipment, net    |   |   | 9      |   |             |   | 5,346  |                |   |   | 5,315 |   |
|                                       |   |   |   |   |             |   |   |                |   |   |   |   |
| Total      assets                          |   |   |   |   |             |   | 97,361 |                |   |   | 78,949 |   |

----

|                                            |   |   |   |   |             |   |   | (Audited)           |   |
|-------------------------------------------------|--------|--------|--------|--------|------------------|--------|--------|---------------------|--------|
|                                            |   |   |   |   | As      of       |   |   | As      of March    |   |
|                                            |   | Note   |   |   | June 30,    2009 |   |   |  31,      2009 |   |
|                                            |   |   |   |   | US$’000    |   |   | US$’000       |   |
| LIABILITIES      AND STOCKHOLDERS’ EQUITY |   |   |   |   |             |   |   |                |   |
|                                            |   |   |   |   |             |   |   |                |   |
| Current      liabilities:                       |   |   |   |   |             |   |   |                |   |
| Accounts      payable                           |   |   |   |   |             | 8,695  |   |                |   | 11,176 |   |
| Notes      payable                              |   |   | 10     |   |             |   | 28,021 |                |   |   | 23,343 |   |
| Accrued      expenses and other liabilities     |   |   |   |   |             |   | 6,598  |                |   |   | 3,769 |   |
| Due      to related parties                     |   |   | 14     | (b)    |             |   | 319    |                |   |   | 639 |   |
| Income      taxes payable                       |   |   |   |   |             |   | 286    |                |   |   | 264 |   |
| Short-term      bank borrowings                 |   |   | 11     |   |             |   | 32,141 |                |   |   | 20,451 |   |
|                                            |   |   |   |   |             |   |   |                |   |   |   |   |
| Total      current liabilities                  |   |   |   |   |             |   | 76,060 |                |   |   | 59,642 |   |
|                                            |   |   |   |   |             |   |   |                |   |   |   |   |
| Government      subsidies                       |   |   | 12     |   |             |   | 174    |                |   |   | 186 |   |
| Deferred      tax liabilities                   |   |   |   |   |             |   | 460    |                |   |   | 460 |   |
|                                            |   |   |   |   |             |   |   |                |   |   |   |   |
| Total      non-current liabilities              |   |   |   |   |             |   | 634    |                |   |   | 646 |   |
|                                            |   |   |   |   |             |   |   |                |   |   |   |   |
| Total      liabilities                          |   |   |   |   |             |   | 76,694 |                |   |   | 60,288 |   |

| Commitments      and contingencies                                                                              |   |   | 15     |   |   |   | -      |   |   |   | -      |   |
|-----------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders’      equity:                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred      stock, US$0.001 per value:10,000,000 shares authorized      and no shares issued and outstanding |   |   |   |   |   |   | -      |   |   |   | -      |   |
| Common      stock, US$0.001 par value:100,000,000      shares authorized                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| 50,000,000      shares issued and outstanding                                                                   |   |   | 1      |   |   |   | 50     |   |   |   | 50     |   |
| Capital      reserves                                                                                           |   |   |   |   |   |   | 144    |   |   |   | 144    |   |
| Statutory      reserves                                                                                         |   |   |   |   |   |   | 1,303  |   |   |   | 1,103  |   |
| Accumulated      other comprehensive income                                                                     |   |   |   |   |   |   | 949    |   |   |   | 948    |   |
| Retained      earnings                                                                                          |   |   |   |   |   |   | 18,221 |   |   |   | 16,416 |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      stockholders’ equity                                                                           |   |   |   |   |   |   | 20,667 |   |   |   | 18,661 |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      liabilities and stockholders’ equity                                                           |   |   |   |   |   |   | 97,361 |   |   |   | 78,949 |   |

----

|                                         |   | Common      stock issued |       |   |          |   |   |            |   |   | Accumulatedother  |   |   |                      |   |   |             |   |
|----------------------------------------------|--------|--------------------------|------------|--------|---------------|--------|--------|-----------------|--------|--------|-------------------|--------|--------|---------------------------|--------|--------|------------------|--------|
|                                         |   | Numberof      shares     |       |   | Amount        |   |   | Capitalreserves |   |   | Statutoryreserves |   |   | comprehensive income |   |   | Retainedearnings |   |   | Total |   |
|                                         |   |                     |       |   | US$’000 |   |   | US$’000   |   |   | US$’000     |   |   | US$’000             |   |   | US$’000    |   |   | US$’000 |   |
| Balance      as of April 1, 2009             |   |                     | 50,000,000 |   |          |   | 50     |            |   |   | 144               |   |   |                      | 1,103  |   |             |   | 948 |   |   |   | 16,416 |   |   |   | 18,661 |   |
| Net      income                              |   |                     | -          |   |          |   | -      |            |   |   | -                 |   |   |                      |   |   |             |   |   |   |   |   | 2,005 |   |   |   | 2,005 |   |
| Transfer      to statutory reserves          |   |                     | -          |   |          |   | -      |            |   |   | -                 |   |   |                      | 200    |   |             |   |   |   |   |   | (200 | ) |   |   | - |   |
| Foreign      currency translation adjustment |   |                     | -          |   |          |   | -      |            |   |   | -                 |   |   |                      |   |   |             |   | 1 |   |   |   | - |   |   |   | 1 |   |
|                                         |   |                     |       |   |          |   |   |            |   |   |              |   |   |                      |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Balance      as of June 30, 2009             |   |                     | 50,000,000 |   |          |   | 50     |            |   |   | 144               |   |   |                      | 1,303  |   |             |   | 949 |   |   |   | 18,221 |   |   |   | 20,667 |   |

----

|                                                                                                  |   | Three      months ended June      30, |   |
|-------------------------------------------------------------------------------------------------------|--------|---------------------------------------|--------|
|                                                                                                  |   | 2009                                  |   |   | 2008 |   |
|                                                                                                  |   | US$’000                         |   |   | US$’000 |   |
| Cash      flows from operating activities                                                             |   |                                  |   |   |   |   |
| Net      income                                                                                       |   |                                  | 2,005  |   |   |   | 1,912 |   |
| Adjustments      to reconcile net income to net cash (used in) provided by operating      activities: |   |                                  |   |   |   |   |   |   |
| Depreciation of property, plant      and equipment                                                    |   |                                  | 132    |   |   |   | 101 |   |
| Written-off of property, plant      and equipment                                                     |   |                                  | 6      |   |   |   | 43 |   |
| Amortization of long-term land      lease prepayments                                                 |   |                                  | 3      |   |   |   | 3 |   |
| Exchange      differences                                                                             |   |                                  | (1     | ) |   |   | 18 |   |
| Provision for warranty      costs                                                                     |   |                                  | 25     |   |   |   | (130 | ) |
| Government grant      recognized                                                                      |   |                                  | (12    | ) |   |   | (12 | ) |
| Due from related      parties                                                                         |   |                                  | (378   | ) |   |   | 863 |   |
| Changes      in assets and liabilities:                                                               |   |                                  |   |   |   |   |   |   |
| Other financial      assets                                                                           |   |                                  | (822   | ) |   |   | 4,430 |   |
| Accounts receivable,      net                                                                         |   |                                  | 89     |   |   |   | (260 | ) |
| Other    receivables                                                                                  |   |                                  | (206   | ) |   |   | 44 |   |
| Prepayment                                                                                            |   |                                  | (1,289 | ) |   |   | (551 | ) |
| Inventories                                                                                           |   |                                  | (4,630 | ) |   |   | (3,344 | ) |
| Accountspayable                                                                                       |   |                                  | (2,482 | ) |   |   | 246 |   |
| Notes payable                                                                                         |   |                                  | 4,675  |   |   |   | - |   |
| Accrued expenses and other      liabilities                                                           |   |                                  | 2,846  |   |   |   | (1,140 | ) |
| Due to related      parties                                                                           |   |                                  | (320   | ) |   |   | (1,099 | ) |
| Income taxes      payable                                                                             |   |                                  | 22     |   |   |   | 213 |   |
|                                                                                                  |   |                                  |   |   |   |   |   |   |
| Net      cash (used in) provided by operating activities                                              |   |                                  | (337   | ) |   |   | 1,337 |   |
|                                                                                                  |   |                                  |   |   |   |   |   |   |
| Cash      flows from investing activities                                                             |   |                                  |   |   |   |   |   |   |
| Purchase      of property, plant and equipment                                                        |   |                                  | (211   | ) |   |   | (300 | ) |
| Additions      of long-term land lease prepayments                                                    |   |                                  | -      |   |   |   | (112 | ) |
| Investment      in restricted bank balances, net                                                      |   |                                  | (4,675 | ) |   |   | - |   |
|                                                                                                  |   |                                  |   |   |   |   |   |   |
| Net      cash used in investing activities                                                            |   |                                  | (4,886 | ) |   |   | (412 | ) |
|                                                                                                  |   |                                  |   |   |   |   |   |   |
| Cash      flows from financing activities                                                             |   |                                  |   |   |   |   |   |   |
| Proceeds      from short-term bank loans                                                              |   |                                  | 13,587 |   |   |   | 1,455 |   |
| Repayment      of short-term bank loans                                                               |   |                                  | (7,743 | ) |   |   | - |   |
| Proceeds      from bills financing, net                                                               |   |                                  | 5,844  |   |   |   | - |   |
|                                                                                                  |   |                                  |   |   |   |   |   |   |
| Net      cash provided by financing activities                                                        |   |                                  | 11,688 |   |   |   | 1,455 |   |
|                                                                                                  |   |                                  |   |   |   |   |   |   |
| Net      increase in cash and cash equivalents                                                        |   |                                  | 6,465  |   |   |   | 2,380 |   |
|                                                                                                  |   |                                  |   |   |   |   |   |   |
| Cash      and cash equivalents, beginning of period                                                   |   |                                  | 2,620  |   |   |   | 786 |   |
| Effect      on exchange rate changes                                                                  |   |                                  | -      |   |   |   | 16 |   |
|                                                                                                  |   |                                  |   |   |   |   |   |   |
| Cash      and cash equivalents, end of period                                                         |   |                                  | 9,085  |   |   |   | 3,182 |   |
|                                                                                                  |   |                                  |   |   |   |   |   |   |
| Supplemental      disclosure of cash flow information                                                 |   |                                  |   |   |   |   |   |   |
| Interest      paid                                                                                    |   |                                  | 369    |   |   |   | 286 |   |
| Tax      paid                                                                                         |   |                                  | 264    |   |   |   | 121 |   |
|                                                                                                  |   |                                  |   |   |   |   |   |   |
| Non-cash      investing activity                                                                      |   |                                  |   |   |   |   |   |   |
| Purchase      of property, plant and equipment recorded as payable to      contractors                |   |                                  | 43     |   |   |   | 223 |   |

----

| 1.  | ORGANIZATION      AND PRINCIPAL ACTIVITIES |
|----------|--------------------------------------------|

| Name                                                                               |   | Place      anddate      of establishment / incorporation                                     |   | Percentage      of effective equity interest / voting right attributable to the      Company |   | Principal      activities                                       |
|------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------|
| Fast      More Limited (“Fast More”)                                   |   | Hong      KongDecember      17, 2007                                                         |   | 100%                                                                                    |   | Investment      holding                                    |
|                                                                               |   |                                                                                         |   |                                                                                         |   |                                                            |
| Changxing      Chisen Battery Co.,      Limited (“Changxing Chisen”) * |   | Zhejiang,the      People’s Republic of China (“PRC”)February      25, 2002 |   | 100%                                                                                         |   | Manufacture      and sales of sealed lead-acid battery products |
|                                                                               |   |                                                                                         |   |                                                                                         |   |                                                            |
| Chisen      Technology Holdings Corporation (“Chisen Technology”)      |   | Nevada,      United StatesMay      18, 2009                                                  |   | 100%                                                                                         |   | Inactive                                                        |

| * | This is a direct translation      of the name in Chinese for identification purpose only and is not the      official name in English. |
|---|----------------------------------------------------------------------------------------------------------------------------------------|

----

| 1.  | ORGANIZATION      AND PRINCIPAL ACTIVITIES(CONTINUED) |
|----------|-------------------------------------------------------|

----

| 2.  | PREPARATION      OF INTERIM FINANCIAL STATEMENTS |
|----------|--------------------------------------------------|

|   | The      consolidated financial statements include the financial information of      Chisen Electric and its subsidiaries. All significant intercompany      accounts and transactions have been eliminated upon      consolidation. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 2.  | PREPARATION      OF INTERIM FINANCIAL STATEMENTS |
|----------|--------------------------------------------------|

| 3.  | EARNINGS      PER SHARE |
|----------|-------------------------|

----

| 4. | INCOME      TAXES |
|----|-------------------|

|   | (a) | Income      tax expenses are comprised of thefollowing: |
|--------|-----|---------------------------------------------------------|

|                                   |   | Three      months ended June      30 |   |
|----------------------------------------|--------|--------------------------------------|--------|
|                                   |   | 2009                                 |   | 2008 |   |
|                                   |   | US$’000                        |   | US$’000 |   |
| Current      taxes arising in the PRC: |   |                                 |   |   |   |
| For the period                         |   | 355                                  |   | 328 |   |

----

| 4.  | INCOME      TAXES (CONTINUED) |
|----------|-------------------------------|

|   | (a) | (continued) |
|--------|-----|-------------|

|   | (b) | Reconciliation      from the expected income tax expenses calculated with reference to the      statutory tax rate in the PRC of 25% (2008: 25%) is as      follows: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                    |   | Three      months ended June      30, |   |
|-----------------------------------------|--------|---------------------------------------|--------|
|                                    |   | 2009                                  |   |   | 2008 |   |
|                                    |   | US$’000                         |   |   | US$’000 |   |
|                                    |   |                                  |   |   |   |   |
| Expected      income tax expenses       |   |                                  | 590    |   |   |   | 565 |   |
| Effect      on tax incentives / holiday |   |                                  | (332   | ) |   |   | (277 | ) |
| Non-deductible      items               |   |                                  | 73     |   |   |   | 12 |   |
| Others                                  |   |                                  | 24     |   |   |   | 28 |   |
|                                    |   |                                  |   |   |   |   |   |   |
| Income      tax expenses                |   |                                  | 355    |   |   |   | 328 |   |

| 5.  | RESTRICTED      BANK BALANCES |
|----------|-------------------------------|

| 6. | OTHER      FINANCIAL ASSETS |
|----|-----------------------------|

----

| 7. | INVENTORIES |
|----|-------------|

|                                          |   |                          |   |   | (Audited)                      |   |
|-----------------------------------------------|--------|-------------------------------|--------|--------|--------------------------------|--------|
|                                          |   | As      of June 30, 2009 |   |   | As      of March 31, 2009 |   |
|                                          |   | US$’000                 |   |   | US$’000                  |   |
|                                          |   |                          |   |   |                           |   |
| Raw      materials                            |   |                          | 4,960  |   |                           |   | 4,269 |   |
| Work-in-progress      and semi-finished goods |   |                          | 11,851 |   |                           |   | 9,370 |   |
| Finished      goods                           |   |                          | 4,956  |   |                           |   | 3,496 |   |
|                                          |   |                          |   |   |                           |   |   |   |
|                                          |   |                          | 21,767 |   |                           |   | 17,135 |   |

| 8.  | AVAILABLE-FOR-SALE      FINANCIAL ASSETS |
|----------|------------------------------------------|

|   | Available-for-sale      financial assets as of June 30, 2009 and March 31, 2009 represented      investment in unlisted equity securities and are recorded at cost. The      management has estimated that the recoverable amount of the assets exceed      their carrying value. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9. | PROPERTY,      PLANT AND EQUIPMENT, NET |
|----|-----------------------------------------|

|                                          |   |                          |   |   | (Audited)                      |   |
|-----------------------------------------------|--------|-------------------------------|--------|--------|--------------------------------|--------|
|                                          |   | As      of June 30, 2009 |   |   | As      of March 31, 2009 |   |
|                                          |   | US$’000                 |   |   | US$’000                  |   |
| Buildings                                     |   |                          | 2,658  |   |                           |   | 2,632 |   |
| Plant      and machinery                      |   |                          | 2,494  |   |                           |   | 2,386 |   |
| Motor      vehicles                           |   |                          | 800    |   |                           |   | 807 |   |
| Furniture,      fixtures and office equipment |   |                          | 458    |   |                           |   | 427 |   |
| Construction-in-progress                      |   |                          | 368    |   |                           |   | 365 |   |
|                                          |   |                          |   |   |                           |   |   |   |
|                                          |   |                          | 6,778  |   |                           |   | 6,617 |   |
|                                          |   |                          |   |   |                           |   |   |   |
| Accumulated      depreciation                 |   |                          | (1,432 | )      |                           |   | (1,302 | ) |
|                                          |   |                          |   |   |                           |   |   |   |
|                                          |   |                          | 5,346  |   |                           |   | 5,315 |   |

----

| 10.  | NOTES      PAYABLE |
|-----------|--------------------|

|                                                                             |   |                          |   |   | (Audited)                      |   |
|----------------------------------------------------------------------------------|--------|-------------------------------|--------|--------|--------------------------------|--------|
|                                                                             |   | As      of June 30, 2009 |   |   | As      of March 31, 2009 |   |
|                                                                             |   | US$’000                 |   |   | US$’000                  |   |
| Corporate      and personal guarantees issued by related parties (Note    14(d)) |   |                          | 12,418 |   |                           |   | 8,034 |   |
| Corporate      guarantees issued by third parties                                |   |                          | 2,922  |   |                           |   | 2,922 |   |

| 11. | SHORT-TERM      BANK BORROWINGS |
|-----|---------------------------------|

|                       |   |   |                          |   |   | (Audited)                      |   |
|----------------------------|--------|--------|-------------------------------|--------|--------|--------------------------------|--------|
|                       | Note   |   | As      of June 30, 2009 |   |   | As      of March 31, 2009 |   |
|                       |   |   | US$’000                 |   |   | US$’000                  |   |
| Short-term      bank loans | (i)    |   |                          | 26,297 |   |                           |   | 20,451 |   |
| Bills      financing       | (ii)   |   |                          | 5,844  |   |                           |   | - |   |
|                       |   |   |                          |   |   |                           |   |   |   |
|                       |   |   |                          | 32,141 |   |                           |   | 20,451 |   |

|   | (i) | Short-term      bank loans |
|--------|-----|----------------------------|

|                 |   |                          |   |   | (Audited)                      |   |
|----------------------|--------|-------------------------------|--------|--------|--------------------------------|--------|
|                 |   | As      of June 30, 2009 |   |   | As      of March 31, 2009 |   |
|                 |   | US$’000                 |   |   | US$’000                  |   |
| Land      use rights |   |                          | 605    |   |                           |   | 608 |   |
| Buildings            |   |                          | 2,038  |   |                           |   | 2,069 |   |
|                 |   |                          |   |   |                           |   |   |   |
|                 |   |                          | 2,643  |   |                           |   | 2,677 |   |

----

| 11. | SHORT-TERM      BANK BORROWINGS (CONTINUED) |
|-----|---------------------------------------------|

|   | (i) | Short-term      bank loans (continued) |
|--------|-----|----------------------------------------|

|                                                                             |   |                          |   |   | (Audited)                      |   |
|----------------------------------------------------------------------------------|--------|-------------------------------|--------|--------|--------------------------------|--------|
|                                                                             |   | As      of June 30, 2009 |   |   | As      of March 31, 2009 |   |
|                                                                             |   | US$’000                 |   |   | US$’000                  |   |
| Corporate      and personal guarantees issued by related parties (Note    14(d)) |   |                          | 21,914 |   |                           |   | 16,069 |   |
| Corporate      guarantees issued by third parties                                |   |                          | 2,776  |   |                           |   | 4,381 |   |

|   | (ii) | Bills      financing |
|--------|------|----------------------|

| 12. | GOVERNMENT      SUBSIDIES |
|-----|---------------------------|

| 13. | FINANCIAL      INSTRUMENTS |
|-----|----------------------------|

----

| 14. | RELATED      PARTY TRANSACTIONS |
|-----|---------------------------------|

|  | (a) | Names      and relationship of relatedparties: |
|--|-----|------------------------------------------------|

|                                                                                                |   |                                                                    |
|-----------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------|
| Name of related party                                                                               |   | Existing relationships with the      Company                            |
| Mr.      Xu Kecheng                                                                                 |   | Director      and controlling stockholder of Chisen Electric            |
|                                                                                                |   |                                                                    |
| Zhejiang      Chisen Glass Company Limited (“Chisen Glass”)*                            |   | A      company controlled by a close family member of Mr. Xu    Kecheng |
|                                                                                                |   |                                                                    |
| Mr.      Xu Keyong                                                                                  |   | A      close family member of Mr. Xu Kecheng                            |
|                                                                                                |   |                                                                    |
| Ms.      Zhou Fang Qin                                                                              |   | Spouse      of Mr. Xu Kecheng                                           |
|                                                                                                |   |                                                                    |
| Changxing      Chisen Xinguangyuan Company Limited (“Xinguangyuan”)*                    |   | A      company controlled by a close family member of Mr. Xu    Kecheng |
|                                                                                                |   |                                                                    |
| Zhejiang      Ai Ge Organism Products Company Limited (“Ai GeOrganism”)*                |   | A      company controlled by Mr. Xu Kecheng                             |
|                                                                                                |   |                                                                    |
| Zhejiang      Changxing Nuo Wan Te Ke Glass Company Limited (“Nuo Wan Te      Ke”)*     |   | A      company controlled by a close family member of Mr. Xu    Kecheng |
|                                                                                                |   |                                                                    |
| Zhejiang      Changxing Ruilang Electronic Company Limited (“Ruilang      Electronic”)* |   | A      company controlled by a close family member of Mr. Xu    Kecheng |

|   | * | These      are direct translations of the name in Chinese for identification purpose      only and are not official names inEnglish. |
|--------|---|--------------------------------------------------------------------------------------------------------------------------------------|

|  | (b) | Summary      of balances with related parties: |
|--|-----|------------------------------------------------|

|                           |   |                     |   |   | (Audited)                 |   |
|--------------------------------|--------|--------------------------|--------|--------|---------------------------|--------|
|                           |   | As      of June 30, 2009 |   |   | As      of March 31, 2009 |   |
|                           |   | US$’000            |   |   | US$’000             |   |
| Due      from related parties: |   |                     |   |   |                      |   |
| Ms.      Zhou Fang Qin         |   |                     | 448    |   |                      |   | 195 |   |
| Chisen      Glass              |   |                     | 282    |   |                      |   | 278 |   |
| Xinguangyuan                   |   |                     | 123    |   |                      |   | 1 |   |
|                           |   |                     |   |   |                      |   |   |   |
|                           |   |                     | 853    |   |                      |   | 474 |   |
|                           |   |                     |   |   |                      |   |   |   |
| Due      to related parties:   |   |                     |   |   |                      |   |   |   |
| Mr.      Xu Keyong             |   |                     | 25     |   |                      |   | 24 |   |
| Ai      Ge Organism            |   |                     | 291    |   |                      |   | 602 |   |
| Nuo      Wan Te Ke             |   |                     | 3      |   |                      |   | 13 |   |
|                           |   |                     |   |   |                      |   |   |   |
|                           |   |                     | 319    |   |                      |   | 639 |   |

----

| 14. | RELATED      PARTY TRANSACTIONS (CONTINUED) |
|-----|---------------------------------------------|

|  | (c) | Summary      of related partytransactions: |
|--|-----|--------------------------------------------|

| Name      of related party | Nature      of transactions       |   | Three      months ended June      30, |   |
|----------------------------|-----------------------------------|--------|---------------------------------------|--------|
|                       |                              |   | 2009                                  |   |   | 2008 |   |
|                       |                              |   | US$’000                         |   |   | US$’000 |   |
| Chisen      Glass          | Acquisition      of motor vehicle |   |                                  | -      |   |   |   | 160 |   |

|  | (d) | Other      arrangements: |
|--|-----|--------------------------|

| ●    | As      of June 30, 2009, US$3,360,000 of the Company’s short-term bank loans was      collateralized by a guarantee provided by Chisen  Glass. |
|---------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●    | As      of June 30, 2009, US$2,484,000 of the Company’s short-term bank loans was      collateralized by land use rights owned by Ruilang    Electronic. |
|---------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●    | As      of June 30, 2009, Chisen Glass, Mr. Xu Kecheng and Ms. Zhou Fang Qin      provided guarantees, in the aggregate, amounting to US$9,497,000 and      US$2,191,000 to secure the notes payable and bills financing of the      Company, respectively. |
|---------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●    | As      of June 30, 2009, Xinguangyuan and Mr. Xu Kecheng provided guarantees, in      aggregate, amounting to US$8,766,000, US$3,653,000 and US$730,000 to      secure the short-term bank loans, notes payable and bills financing of the      Company, respectively. |
|---------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●    | As      of June 30, 2009, Xinguangyuan provided guarantees, in aggregate,      amounting to US$1,461,000 and US$2,191,000 to secure the short-term bank      loans and notes payable of the Company,  respectively. |
|---------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●    | As      of June 30, 2009, Xinguangyuan, Mr. Xu Kecheng and a third party provided      guarantees, in aggregate, amounting to US$5,484,000 to secure the      short-term bank loans of theCompany. |
|---------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 15.  | COMMITMENTS      AND CONTINGENCIES |
|-----------|------------------------------------|

|   | (a) | Operating      lease commitments |
|--------|-----|----------------------------------|

|                     |   |                          |   |   | (Audited)                      |   |
|--------------------------|--------|-------------------------------|--------|--------|--------------------------------|--------|
|                     |   | As      of June 30, 2009 |   |   | As      of March 31, 2009 |   |
|                     |   | US$’000                 |   |   | US$’000                  |   |
| Within      one year     |   |                          | 365    |   |                           |   | 185 |   |
| One      to two years    |   |                          | 383    |   |                           |   | 205 |   |
| Two      to three years  |   |                          | 402    |   |                           |   | 202 |   |
| Three      to four years |   |                          | 422    |   |                           |   | 212 |   |
| Four      to five years  |   |                          | 149    |   |                           |   | 54 |   |
|                     |   |                          |   |   |                           |   |   |   |
| Total                    |   |                          | 1,721  |   |                           |   | 858 |   |

|   | (b) | Capital      commitments |
|--------|-----|--------------------------|

| 16.  | PROVISION      FOR WARRANTY |
|-----------|-----------------------------|

|                                                 |   | Three      months ended June      30, |   |
|------------------------------------------------------|--------|---------------------------------------|--------|
|                                                 |   | 2009                                  |   |   | 2008 |   |
|                                                 |   | US$’000                         |   |   | US$’000 |   |
| Balance      as of April 1,                          |   |                                  | 121    |   |   |   | 413 |   |
| Exchange      realignment                            |   |                                  | 1      |   |   |   | - |   |
| Accrual      for warranties issued during the period |   |                                  | 40     |   |   |   | 270 |   |
| Settlement      made during the period               |   |                                  | (15    | ) |   |   | (392 | ) |
|                                                 |   |                                  |   |   |   |   |   |   |
| Balance      as of June 30,                          |   |                                  | 147    |   |   |   | 291 |   |

----

| 17. | RETIREMENT      PLAN COSTS |
|-----|----------------------------|

| 18. | SEGMENTAL      INFORMATION |
|-----|----------------------------|

----

----

----

| Product    |   | Dimentions (LxWxH) |   | Weight(kg) |   |   | PowerOutput(w) |   |   | EstimatedHoursRequiredPerCharging(1) |   |   | EstimatedMinutesof UsePerCharging(min)(2) |   |   | EstimatedTravelDistance PerCharging (km) |    |
|------------|--------|-------------------------|--------|------------|--------|--------|----------------|--------|--------|--------------------------------------|--------|--------|------------------------------------------------|--------|--------|----------------------------------------------------|---------|
| 6-DZM-10Ah |   | 151×99×98     |   |       | 4.2    |   |           |   | 60     |                                 |   |   | 10                                             | h      |   |                                               | 135-145 |   |   |   | 45-50 |   |
|       |   |                    |   |       |   |   |           |   |   |                                 |   |   |                                           |   |   |                                               |    |   |   |   |   |   |
| 6-DZM-12Ah |   | 151×99×102    |   |       | 4.3    |   |           |   | 72     |                                 |   |   | 10                                             | h      |   |                                               | 120-130 |   |   |   | 45-50 |   |
|       |   |                    |   |       |   |   |           |   |   |                                 |   |   |                                           |   |   |                                               |    |   |   |   |   |   |
| 6-DZM-16Ah |   | 151×99×118    |   |       | 5.6    |   |           |   | 96     |                                 |   |   | 10                                             | h      |   |                                               | 120-130 |   |   |   | 50-60 |   |
|       |   |                    |   |       |   |   |           |   |   |                                 |   |   |                                           |   |   |                                               |    |   |   |   |   |   |
| 6-DZM-17Ah |   | 181×76×166    |   |       | 6.3    |   |           |   | 102    |                                 |   |   | 10                                             | h      |   |                                               | 120-130 |   |   |   | 50-60 |   |
|       |   |                    |   |       |   |   |           |   |   |                                 |   |   |                                           |   |   |                                               |    |   |   |   |   |   |
| 6-DZM-20Ah |   | 181×76×170    |   |       | 7.0    |   |           |   | 120    |                                 |   |   | 10                                             | h      |   |                                               | 120-130 |   |   |   | 60-70 |   |
|       |   |                    |   |       |   |   |           |   |   |                                 |   |   |                                           |   |   |                                               |    |   |   |   |   |   |
| 8-DZM-18Ah |   | 250×100×128   |   |       | 9.0    |   |           |   | 144    |                                 |   |   | 10                                             | h      |   |                                               | 120-130 |   |   |   | 60-70 |   |
|       |   |                    |   |       |   |   |           |   |   |                                 |   |   |                                           |   |   |                                               |    |   |   |   |   |   |
| 8-DZM-20Ah |   | 250×100×128   |   |       | 9.05   |   |           |   | 160    |                                 |   |   | 10                                             | h      |   |                                               | 120-130 |   |   |   | 60-70 |   |
|       |   |                    |   |       |   |   |           |   |   |                                 |   |   |                                           |   |   |                                               |    |   |   |   |   |   |
| 6-DZM-24Ah |   | 175×165×125   |   |       | 9.5    |   |           |   | 144    |                                 |   |   | 10                                             | h      |   |                                               | 120-130 |   |   |   | 70-80 |   |
|       |   |                    |   |       |   |   |           |   |   |                                 |   |   |                                           |   |   |                                               |    |   |   |   |   |   |
| 6-DZM-25Ah |   | 250×78×118    |   |       | 8.85   |   |           |   | 150    |                                 |   |   | 10                                             | h      |   |                                               | 120-130 |   |   |   | 70-80 |   |

----

|            |   |            |
|------------|--------|------------|
|       |   |       |
| 6-DZM-10AH |   | 6-DZM-12AH |

|       |   |                  |
|------------|--------|-----------------------|
|            |   |                       |
|       |   |                  |
| 6-DZM-16AH |   | 6-DZM-17AH            |
|       |   |                  |
|            |   |                       |
|       |   |                  |
| 6-DZM-20AH |   | 8-DZM-18AH/8-DZM-20AH |
|       |   |                  |
|            |   |                       |
| 6-DZM-24AH |   | 6-DZM-25AH            |

----

| Battery Manufacturer             |   | Production Location |      | Revenues in 2009(approximate)      US$(Million) |     | Market Share |   |
|---------------------------------------|--------|--------------------------|--------------------------|-----------------------------------------------------------|--------------------|-------------------|--------|
| Tianneng      Power International     |   | Changxing,      Zhejiang |                     |                                                      | 376.97             |              | 22     | %  |
| Zhejiang      Chaowei Power Co., Ltd. |   | Changxing,      Zhejiang |                     |                                                      | 222.69             |              | 13     | % |
| CHISEN                                |   | Changxing,      Zhejiang |                     |                                                      | 109.02             |              | 6      | % |

----

----

|                                     |   | For The Three (3) Months Ended June 30 (Unaudited) |       |
|------------------------------------------|--------|--------------------------------------------------------------------------------------------|------------|
|                                     |   | 2009                                                                                       |       |   | 2008 |   |   | 2009 |   |   | 2008 |   |
| Revenues                                 |   | $                                                                                          | 29,475,000 |   |   | $ | 22,225,000 |   |   |   | 100.00 | % |   |   | 100.00 | % |
| Cost      of sales                       |   | $                                                                                          | 24,105,000 |   |   | $ | 18,195,000 |   |   |   | 81.78 | % |   |   | 81.87 | % |
| Gross      income                        |   | $                                                                                          | 5,370,000  |   |   | $ | 4,030,000 |   |   |   | 18.22 | % |   |   | 18.13 | % |
| Sales,      marketing and distribution   |   | $                                                                                          | 1,787,000  |   |   | $ | 1,105,000 |   |   |   | 6.06 | % |   |   | 4.97 | % |
| General      and administrative expenses |   | $                                                                                          | 1,056,000  |   |   | $ | 612,000 |   |   |   | 3.58 | % |   |   | 2.75 | % |
| Operating      income                    |   | $                                                                                          | 2,527,000  |   |   | $ | 2,313,000 |   |   |   | 8.57 | % |   |   | 10.41 | % |
| Other      income, net                   |   | $                                                                                          | 147,000    |   |   | $ | 206,000 |   |   |   | 0.50 | % |   |   | 0.93 | % |
| Interest      expenses, net              |   | $                                                                                          | 314,000    |   |   | $ | 279,000 |   |   |   | 1.07 | % |   |   | 1.26 | % |
| Income      before income taxes          |   | $                                                                                          | 2,360,000  |   |   | $ | 2,240,000 |   |   |   | 8.01 | % |   |   | 10.08 | % |
| Income      taxes expenses               |   | $                                                                                          | 355,000    |   |   | $ | 328,000 |   |   |   | 1.20 | % |   |   | 1.48 |   |
| Net      income                          |   | $                                                                                          | 2,005,000  |   |   | $ | 1,912,000 |   |   |   | 6.80 | % |   |   | 8.60 | % |
| Other      comprehensive income          |   | $                                                                                          | 1          |   |   | $ | 226,000 |   |   |   | 0.00 | % |   |   | 1.02 | % |
| Comprehensive      income                |   | $                                                                                          | 2,006,000  |   |   | $ | 2,138,000 |   |   |   | 6.81 | % |   |   | 9.62 | % |

----

----

|                                                      |   | Three (3) Months Ended June 30(Unaudited) |       |
|-----------------------------------------------------------|--------|--------------------------------------------------------------------|------------|
|                                                      |   | 2009                                                               |       |   | 2008 |   |
| Net      cash (used in) provided by operating activities  |   | $                                                                  | (337,000   | ) |   | $ | 1,337,000 |   |
| Net      cash used in investing activities                |   | $                                                                  | (4,886,000 | ) |   | $ | (412,000 | ) |
| Net      cash provided by  financing activities |   | $                                                                  | 11,688,000 |   |   | $ | 1,455,000 |   |
| Net      increase  in cash and cash equivalents |   | $                                                                  | 6,465,000  |   |   | $ | 2,380,000 |   |
| Effect      of exchange rate changes on cash              |   | $                                                                  | -          |   |   | $ | 16,000 |   |
| Cash      and cash equivalents at beginning of period     |   | $                                                                  | 2,620,000  |   |   | $ | 786,000 |   |
| Cash      and cash equivalents at end of period           |   | $                                                                  | 9,085,000  |   |   | $ | 3,182,000 |   |

----

----

|                                                                                               |   | Payments      Due By Period |   |
|----------------------------------------------------------------------------------------------------|--------|-----------------------------|--------|
| Contractual Obligations (US$)                                                            |   | Total                       |   | Less than1 year |   | 1-3years |   | 3-5years |   | More than5 years |   |
| Bank      Indebtedness                                                                             |   | (SEE      TABLE BELOW)      |
| Other      Indebtedness                                                                            |   |                        | 0      |   | 0 |   |   | 0 |   | 0 |   |   | 0 |   |
| Capital      Lease Obligations                                                                     |   |                        | 0      |   | 0 |   |   | 0 |   | 0 |   |   | 0 |   |
| Operating      Lease Obligations                                                                   |   | (SEE      TABLE BELOW)      |
| Purchase      Obligations                                                                          |   | (SEE      TABLE BELOW)      |
| Other      Long-Term Liabilities Reflected on the Company’s Balance Sheet under US      GAAP |   |                        | 0      |   | 0 |   |   | 0 |   | 0 |   |   | 0 |   |
| Total:                                                                                             |   |                        | 0      |   | 0 |   |   | 0 |   | 0 |   |   | 0 |   |

| Bank      indebtedness (US$)         |   | June 30, 2009 |   | March 31, 2009 |   |
|--------------------------------------|--------|-------------------------|--------|--------------------------|--------|
| Short-term      bank borrowings      |   |  US$32,141,000     |   | US$20,451,000            |   |
| Notes      payable (within (1) year) |   |  US$28,021,000     |   | US$23,343,000            |   |
| Total                                |   |  US$60,162,000     |   | US$43,794,000            |   |

| Purchase      Obligations (US$)                    |   | June 30, 2009 |   | March 31, 2009 |   |
|----------------------------------------------------|--------|-------------------------|--------|--------------------------|--------|
| Purchase      of machineries (within one (1) year) |   | US$206,000              |   | US$423,000               |   |
| Total                                              |   | US$206,000              |   | US$423,000               |   |

| Operating      Lease Obligations (US$) |   | June 30, 2009      |   | March 31, 2009     |   |
|----------------------------------------|--------|------------------------------|--------|------------------------------|--------|
| Within      one (1) year               |   |         US$365,000 |   |         US$185,000 |   |
| 1-3      years                         |   |         US$785,000 |   |         US$407,000 |   |
| 3-5      years                         |   |         US$571,000 |   |         US$266,000 |   |
| Over      five (5) years               |   |         -     |   |         -     |   |
| Total                                  |   |  US$1,721,000           |   |         US$858,000 |   |

----

----

| EXHIBIT NO. |   | DESCRIPTION                                                                                                                                                                                 |   | LOCATION                                                                                                                                                       |
|------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1              |   | Share      Exchange Agreement, dated November 12, 2008, by and among World Trophy      Outfitters, Inc., Fast More Limited, Cheer Gold Development Ltd. and      Floster Investment Limited |   | Incorporated      by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K as      filed with the SEC on November 12, 2008                |
|             |   |                                                                                                                                                                                        |   |                                                                                                                                                           |
| 3.1              |   | Articles      of Incorporation of World Trophy Outfitters, Inc.                                                                                                                             |   | Incorporated      by reference to Exhibit 3(i).1 to the Registrant’s Registration Statement      on Form SB-2 as filed with the SEC on September 23,2005 |
|             |   |                                                                                                                                                                                        |   |                                                                                                                                                           |
| 3.2              |   | Certificate      of Amendment to Articles of Incorporation of Chisen Electric Corporation      (name change)                                                                                |   | Incorporated      by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K as      filed with the SEC on February 4, 2009                 |
|        |   |                                                                                                                                                                                        |   |                                                                                                                                                           |
| 3.3              |   | Amended      and Restated Bylaws of Chisen Electric Corporation                                                                                                                             |   | Incorporated      by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K as      filed with the SEC on February 4, 2009                 |
|             |   |                                                                                                                                                                                        |   |                                                                                                                                                           |
| 3.4              |   | Certificate      of Incorporation of Fast More Limited, dated December 17,    2007                                                                                                          |   | Incorporated      by reference to Exhibit 3.3 to the Company’s Current Report on Form 8-K as      filed with the SEC on November 12, 2008                |
|             |   |                                                                                                                                                                                        |   |                                                                                                                                                           |
| 3.5              |   | Memorandum      and Articles of Association of Fast More Limited, dated as of December 17,      2007                                                                                        |   | Incorporated      by reference to Exhibit 3.4 to the Company’s Current Report on Form 8-K as      filed with the SEC on November 12, 2008                |
|             |   |                                                                                                                                                                                        |   |                                                                                                                                                           |
| 3.6              |   | Certificate      of Incorporation of Changxing Chisen Electric Co., Ltd.                                                                                                                    |   | Incorporated      by reference to Exhibit 3.5 to the Company’s Current Report on Form 8-K as      filed with the SEC on November 12, 2008                |
|             |   |                                                                                                                                                                                        |   |                                                                                                                                                           |
| 3.7              |   | Articles      of Associations of Changxing Chisen Electric Co., Ltd.                                                                                                                        |   | Incorporated      by reference to Exhibit 3.6 to the Company’s Current Report on Form 8-K as      filed with the SEC on November 12, 2008                |
|             |   |                                                                                                                                                                                        |   |                                                                                                                                                           |
| 10.1             |   | Agreement      on Establishment of Changxing Chisen Physical Chemistry Power Research and      Development Center, dated April 30, 2008                                                     |   | Incorporated      by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008               |
|             |   |                                                                                                                                                                                        |   |                                                                                                                                                           |
| 10.2             |   | Form      of Labor Contract                                                                                                                                                                 |   | Incorporated      by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008               |
| 10.3             |   | Lease      Agreement, dated March 30, 2008, by and between Changxing Chisen Electric      Co., Ltd. and Changxing Xiangyi Industrial Park Investment Co.,      Ltd.                         |   | Incorporated      by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008               |
|             |   |                                                                                                                                                                                        |   |                                                                                                                                                           |
| 10.4             |   | Contract      For Loan on Guarantee, by and among Zhejiang Changxing Agricultural      Cooperative Bank, Changxing Chisen Electric Co., Ltd. and Zhejiang Chisen      Galss Co., Ltd.       |   | Incorporated      by reference to Exhibit 10.4 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008               |
|             |   |                                                                                                                                                                                        |   |                                                                                                                                                           |
| 10.5             |   | Renminbi      Loan Contract, dated January 11, 2008, by and between Changxing Chisen      Electric Co., Ltd. and China Construction Bank Corporation (Changxing      Branch)                |   | Incorporated      by reference to Exhibit 10.5 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12,2008                |

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| 10.6   |   | Renminbi      Loan Contract, dated April 11, 2008, by and between Changxing Chisen      Electric Co., Ltd. and China Construction Bank Corporation (Changxing      Branch)                 |   | Incorporated      by reference to Exhibit 10.6 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008  |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                       |   |                                                                                                                                              |
| 10.7   |   | Renminbi      Loan Contract, dated March 31, 2008, by and between Changxing Chisen      Electric Co., Ltd. and Bank of China (Hong Kong) Limited Shanghan      Branch                      |   | Incorporated      by reference to Exhibit 10.7 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008  |
|   |   |                                                                                                                                                                                       |   |                                                                                                                                              |
| 10.8   |   | Loan      Contract (Short Term), dated August 15, 2008, by and between Changxing      Chisen Electric Co., Ltd. and Bank of China Changxing    Branch                                      |   | Incorporated      by reference to Exhibit 10.8 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008  |
|   |   |                                                                                                                                                                                       |   |                                                                                                                                              |
| 10.9   |   | Acceptance      Agreement, dated August 25, 2008, by and between Changxing Chisen Electric      Co., Ltd. and Industrial Bank Co., Ltd. Hangzhou Branch                                    |   | Incorporated      by reference to Exhibit 10.9 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008  |
|   |   |                                                                                                                                                                                       |   |                                                                                                                                              |
| 10.10  |   | Acceptance      Agreement of Commercial Bill, dated September 18, 2008, by and between      Changxing Chisen Electric Co., Ltd. and China Bank Co., Ltd. Changxing      Branch             |   | Incorporated      by reference to Exhibit 10.10 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008 |
|   |   |                                                                                                                                                                                       |   |                                                                                                                                              |
| 10.11  |   | Acceptance      Agreement of Commercial Bill, dated July 29, 2008, by and between      Changxing Chisen Electric Co., Ltd. and China Construction Bank Changxing      Branch Co., Ltd.     |   | Incorporated      by reference to Exhibit 10.11 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008 |
|   |   |                                                                                                                                                                                       |   |                                                                                                                                              |
| 10.12  |   | Acceptance      Agreement of Commercial Bill, dated September 9, 2008, by and between      Changxing Chisen Electric Co., Ltd. and China Construction Bank Changxing      Branch Co., Ltd. |   | Incorporated      by reference to Exhibit 10.12 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008 |
|   |   |                                                                                                                                                                                       |   |                                                                                                                                              |
| 10.13  |   | Components      Purchase Contract, effective as of January 1, 2008, by and between      Changxing Chisen Electric Co., Ltd. and Jiansu Xinri Electric Bicycle Co.,      Ltd.               |   | Incorporated      by reference to Exhibit 10.13 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008 |
|   |   |                                                                                                                                                                                       |   |                                                                                                                                              |
| 10.14  |   | Supply      Contract, dated April 22, 2008, by and between Changxing Chisen Electric      Co., Ltd. and Jiangsu Yadea Science & Technology Development Co.,      Ltd.                  |   | Incorporated      by reference to Exhibit 10.14 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008 |
| 10.15  |   | Sales      Contract of Battery, dated November 10, 2007, by and between Changxing      Chisen Electric Co., Ltd. and Hu Qinzhong, Yancheng Office                                          |   | Incorporated      by reference to Exhibit 10.15 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008 |
|   |   |                                                                                                                                                                                       |   |                                                                                                                                              |
| 10.16  |   | Sales      Contract of Battery, dated February 17, 2008, by and between Changxing      Chisen Electric Co., Ltd. and Song Chunwei                                                          |   | Incorporated      by reference to Exhibit 10.16 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008 |
|   |   |                                                                                                                                                                                       |   |                                                                                                                                              |
| 14.1   |   | Code      of Ethics                                                                                                                                                                        |   | Incorporated      by reference to Exhibit 14.1 to the Company’s Current Report on Form 8-K      as filed with the SEC on February 4,2009    |

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| 17         |   | Resignation      of Mathew Evans, dated November 12, 2008                                                                                                               |   | Incorporated      by reference to Exhibit 17 to the Company’s Current Report on Form 8-K as      filed with the SEC on November 12, 2008   |
|------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------|
|       |   |                                                                                                                                                                    |   |                                                                                                                                             |
| 21         |   | List      of Subsidiaries of World Trophy Outfitters, Inc. as of August 14,      2009                                                                                   |   | Provided      herewith                                                                                                                           |
|       |   |                                                                                                                                                                    |   |                                                                                                                                             |
| 31.1       |   | Certifications      of the Chief Executive Officer pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002                                                       |   | Provided      herewith                                                                                                                           |
|       |   |                                                                                                                                                                    |   |                                                                                                                                             |
| 31.2       |   | Certifications      of the Chief Financial Officer pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002                                                       |   | Provided      herewith                                                                                                                           |
|       |   |                                                                                                                                                                    |   |                                                                                                                                             |
| 32.1       |   | Certification      Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 of      the Sarbanes-Oxley Act Of 2002                                        |   | Provided      herewith                                                                                                                           |
|       |   |                                                                                                                                                                    |   |                                                                                                                                             |
| 32.2       |   | Certification      Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 of      the Sarbanes-Oxley Act Of 2002                                        |   | Provided      herewith                                                                                                                           |
|       |   |                                                                                                                                                                    |   |                                                                                                                                             |
| 99.1       |   | Audited      Consolidated Financial Statements of Fast More Limited and its Subsidiary      for the Fiscal Years Ended March 31, 2008 and 2007                          |   | Incorporated      by reference to Exhibit 99.1 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008 |
|       |   |                                                                                                                                                                    |   |                                                                                                                                             |
|  99.2 |   | Unaudited      Condensed and Consolidated Financial Statements of Fast More Limited and      its Subsidiary for the Three (3) Months Ended June 30, 2008 and      2007  |   | Incorporated      by reference to Exhibit 99.2 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008 |
|       |   |                                                                                                                                                                    |   |                                                                                                                                             |
| 99.3       |   | Unaudited      Pro Forma Financial Statements of Fast More Limited for the three (3)      month period ended June 30, 2008 and the two years ended March 31,      2008. |   | Incorporated      by reference to Exhibit 99.3 to the Company’s Current Report on Form 8-K      as filed with the SEC on November 12, 2008 |
|       |   |                                                                                                                                                                    |   |                                                                                                                                             |
| 99.4  |   | Audit      Committee Charter, dated January 15, 2009                                                                                                                    |   | Incorporated      by reference to Exhibit 99.1 to the Company’s Current Report on Form 8-K      as filed with the SEC on February 4, 2009  |
|       |   |                                                                                                                                                                    |   |                                                                                                                                             |
| 99.5       |   | Compensation      Committee Charter, dated January 15, 2009                                                                                                             |   | Incorporated      by reference to Exhibit 99.2 to the Company’s Current Report on Form 8-K      as filed with the SEC on February 4, 2009  |
|       |   |                                                                                                                                                                    |   |                                                                                                                                             |
| 99.6       |   | Corporate      Governance and Nominating Committee Charter, dated January 15,      2009                                                                                 |   | Incorporated      by reference to Exhibit 99.3 to the Company’s Current Report on Form 8-K      as filed with the SEC on February 4,2009   |

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|                            |        |                                                                              |
|---------------------------------|--------|-----------------------------------------------------------------------------------|
|                            |   |                                                                              |   |
| Date: August      14, 2009 | By:    | /s/      Xu Kecheng                                                               |   |
|                            |   | Name:      Xu Kecheng                                                             |   |
|                            |   | Its:      President, Chief Executive Officer and Principal Executive      Officer |   |

|                            |   |                                                                               |   |
|---------------------------------|--------|------------------------------------------------------------------------------------|--------|
| Date: August      14, 2009 | By:    | /s/ He      Zhiwei                                                                 |   |
|                            |   | Name:      He Zhiwei                                                               |   |
|                            |   | Its:      Chief Financial Officer, Principal Financial and Accounting      Officer |   |

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