SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 1O-Q

                Quarterly Report Under Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                For the Quarterly Period Ended March 31, 2005
                         Commission File Number: 0-19505

                              YANG HOLDING COMPANY
                              --------------------
             (exact name of registrant as specified in its charter)

         FLORIDA                                               65-0274107
         -------                                               ----------
(State or other jurisdiction of                          (IRS Employer I.D. No.)
Incorporation of organization)

                         999 Brickell Avenue, Suite 600
                              Miami, Florida 33131
                              --------------------
                    (Address of principal executive offices)

                                 (305) 810-2898
                                 --------------
              (Registrant's telephone number, including area code)

                                 Not Applicable
                                 --------------
   (former name, address and former fiscal year, if changed from last report)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(D) of the Securities and Exchange Act of 1934
during the preceding 12 months (or for such short period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                             YES [X]  NO [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF
COMMON STOCK, AS OF THE LATEST PRACTICABLE DATE.

As of March 31, 2005 there were 50,003,000 shares of Common Stock outstanding.

<PAGE>

                                      INDEX

PART I - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS

         Condensed Balance Sheets as of March 31, 2005(Unaudited) and
         December 31, 2004                                                  3

         Condensed Statement of Operations for the Three Months Ended
         March 31, 2005 and 2004 (Unaudited)                                4

         Condensed Statement of Changes in Shareholders' Equity for the
         Three Months Ended March 31, 2005 and 2004 (Unaudited)             5

         Condensed Statement of Cash Flow for the Three Months Ended
         March 31, 2005 and 2004 (Unaudited)                                6

         Notes to Condensed Financial Statements                          7 - 9

ITEM 2   MANAGEMENT'S DISCUSSION AND ANALYSIS OF
         FINANCIAL CONDITION AND RESULTS OF OPERATIONS                     10

PART II - OTHER INFORMATION                                              11 - 12

SIGNATURE PAGE                                                             13

                                        2
<PAGE>

                              YANG HOLDING COMPANY
                          (A DEVELOPMENT STAGE COMPANY)
                                 BALANCE SHEETS

                                                           03/31/05   12/31/04
                                                           --------   --------
                                                         (Unaudited)  (Audited)
                         ASSETS

         Current Assets
         Cash                                              $     1    $     21
                                                           --------    --------
                  Total Current Assets                           1          21
                                                           --------    --------
       Total Assets                                        $     1    $     21
                                                           ========    ========

        LIABILITIES AND STOCKHOLDERS' EQUITY

        Total Liabilities                                  $      0    $     0
                                                           --------    --------
STOCKHOLDERS' EQUITY

       Preferred stock, par value $0.10 per share;
       1,000,000 shares authorized, no shares issued              0          0

       Common stock, par value $0.001 per share;
       200,000,000 shares authorized,
       50,003,000 shares issued and outstanding              50,003     50,003

       Additional paid-in capital                            40,575     40,575

        Deficit accumulated during the
                  development stage                         (90,577)   (90,557)
                                                           --------    --------
       Total Stockholders' Equity                                 1         21
                                                           --------    --------
     Total Liabilities and Stockholders' Equity            $      1    $    21
                                                           ========    ========

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


                                        3
<PAGE>

                              YANG HOLDING COMPANY
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF OPERATIONS
                     QUARTERS ENDED March 31, 2005 and 2004
                                   (Unaudited)


                                                    2005               2004
                                                ------------       ------------
Revenues                                        $          0       $         0
                                                ------------       ------------
Costs and Expenses
       General and administrative                         20             2,698
                                                ------------       ------------
Total Costs and Expenses                                  20             2,698
                                                ------------       ------------
Net loss                                        $        (20)      $    (2,698)
                                                ============       ============
Weighted average loss per share                 $      (0.00)      $     (0.00)
                                                ============       ============
Shares used in the calculation of
   basic and diluted net loss per
   share                                          50,003,000         50,003,000
                                                ============       ============

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

                                        4

<PAGE>

                              YANG HOLDING COMPANY
                          (A DEVELOPMENT STAGE COMPANY)
                       STATEMENTS OF STOCKHOLDERS' EQUITY
     FOR THE PERIOD JANUARY 1, 1993 (DATE OF INCEPTION) TO March 31, 2005
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                     Additional   Accumulated
                                                  Common Stock         Paid-In     During the
     Date         Type                     No. of Shares    Amount     Capital     Dev. Stage    Total
     ----         ----                     -------------   --------  ----------   -----------  --------
<S>            <C>                           <C>           <C>         <C>         <C>         <C>
    01/01/1993 Issued Stock                   1,019,700    $  1,020          --          --       1,020
    08/13/1993 Issued Stock                   6,500,000       6,500          --          --       6,500
    09/01/1994 Stock Repurchase              (6,500,000)     (6,500)         --          --      (6,500)
    03/15/1995 Issued Stock                   8,380,000       8,380          --          --       8,380
    04/10/1997 Reverse Split 1 for 10        (8,459,730)     (8,460)      8,460          --          --
    05/01/1997 Issued Stock                      60,030          60          --          --          60
    05/22/1997 Issued Stock                   9,000,000       9,000          --          --       9,000
    1993 Additional Shareholder                      --          --      33,287          --      33,287
 Deficit Accumulated Through 1998                    --          --     (53,747)         --     (53,747)
                                             ----------    --------    --------    --------    --------
 Balance, year ended December 31, 1998       10,000,000      10,000      41,747     (53,747)     (2,000)
    02/01/1999 Reverse Split 1 for 20        (9,500,000)     (9,500)      9,500          --          --
    02/01/1999 Issued Stock                          30          --          --          --          --
    04/22/1999 Stock Split 100 for 1         49,502,970      49,503     (49,503)         --          --
          1999 Net Loss                              --          --          --      (7,569)     (7,569)
          1999 Shareholder Contribution              --          --       9,569          --       9,569
                                             ----------    --------    --------    --------    --------
 Balance, year ended December 31, 1999       50,003,000      50,003      11,313     (61,316)         --
          2000 Shareholder Contribution              --          --       7,234          --       7,234
          2000 Net Loss                              --          --          --      (7,234)     (7,234)
                                             ----------    --------    --------    --------    --------
Balance, year ended December 31, 2000        50,003,000      50,003      18,547     (68,550)         --

          2001 Shareholder Contribution              --          --       5,268          --       5,268
          2001 Net Loss                              --          --          --      (5,250)     (5,250)
                                             ----------    --------    --------    --------    --------

Balance, year ended December 31, 2001        50,003,000      50,003      23,815     (73,800)         18

          2002 Shareholder Contribution              --          --       4,844          --       4,844
          2002 Net Loss                              --          --          --      (4,856)     (4,856)
                                             ----------    --------    --------    --------    --------

Balance, year ended December 31, 2002        50,003,000      50,003      28,659     (78,656)          6
          2003 Shareholder Contribution              --          --       5,790          --       5,790
          2003 Net Loss                              --          --          --      (5,573)     (5,573)
                                             ----------    --------    --------    --------    --------
Balance, year ended December 31, 2003        50,003,000      50,003      34,449     (84,229)        223

2004 Shareholder Contrib                             --          --       6,126          --       6,126
2004 Net Loss                                        --          --          --     ( 6,328)     (6,328)
                                             ----------    --------    --------    --------    --------
Balance December 31, 2004                    50,003,000    $ 50,003    $ 40,575    $(90,557)   $     21

Three mos ended 03/31/05 Shareholder Contrib         --          --          --          --          --
   Three mos ended 03/31/05 Net Loss                 --          --          --        ( 20)        (20)
                                             ----------    --------    --------    --------    --------
Balance September 30, 2004                   50,003,000    $ 50,003    $ 40,575    $(90,577)   $      1
                                             ==========    ========    ========    ========     =======
</TABLE>

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

                                        5
<PAGE>
                              YANG HOLDING COMPANY
                          (A DEVELOPMENT STAGE COMPANY)
                             STATEMENT OF CASH FLOWS
                     QUARTERS ENDED MARCH 31, 2005 AND 2004
                                   (Unaudited)
                                                            2005          2004
                                                          -------       -------
CASH FLOWS FROM OPERATING
   ACTIVITIES

Net loss                                                  $   (20)      $(2,698)

Adjustment to reconcile net loss
  to net cash (used) by
  operating activities:                                      --            --
                                                          -------       -------
Net cash used by operating activities                         (20)       (2,698)

Cash flow from investing activities                          --            --

Cash flow from financing activities
     Shareholders' additional
        capital                                               --          2,530
                                                          -------       -------
Net cash provided by financing activities                     --          2,530
                                                          -------       -------
Net increase (decrease) in cash                           $   (20)      $  (168)

Cash beginning of period                                       21           223
                                                          -------       -------
Cash end of year                                          $     1       $    55
                                                          =======       =======

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

                                        6
<PAGE>
                              YANG HOLDING COMPANY
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

        Business Activity

        Yang Holding Company (we or the Company) was organized under the laws of
the State of Florida on July 25, 1991, as National Advertising Group, Inc. The
Company, which is in the development stage, has not yet commenced business
operations. The Company intends to acquire an operating entity, however, the
company has not yet targeted an acquisition.

        Loss Per Share

        Loss per share is as computed by dividing the net loss by the average
number of common shares outstanding during each period. The average number of
common shares has been retroactively adjusted to reflect the 1 for 20 reverse
split approved in February, 1999 and the 100 for 1 forward split effected in
April, 1999.

        Estimates

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

RECENT ACCOUNTING PRONOUNCEMENTS


In January 2003, the FASB issued Interpretations No. 46, "Consolidation of
Variable Interest Entities". FIN No. 46 addresses consolidation by business
enterprises of variable interest entities (formerly special purpose entities or
"SPEs"). The Company does not have any variable interest entities as defined by
FIN No. 46.


                                       7
<PAGE>

FASB No. 149, "Amendment of Statement No. 133 on Derivative Instruments and
Hedging Activities"

In April 2003, the FASB issued Statement No. 149, "Amendment of Statement No.
133 on Derivative Instruments and Hedging Activities". This statement amends and
clarifies financial accounting and reporting for derivative instruments,
including certain derivative instruments embedded in other contracts and for
hedging activities under Statement No. 133, "Accounting for Derivatives
Instruments and Hedging Activities." The provisions of this statement are
effective for all derivatives and hedging activities entered into after June 30,
2003. SFAS No. 149 did not have a material effect on the Company's financial
position, results of operations or cash flows.

FASB No. 150 "Accounting for Certain Financial Instruments with Characteristics
of both Liabilities and Equity"

In May 2003, the FASB issued SFAS No. 150 "Accounting for Certain Financial
Instruments with Characteristics of both Liabilities and Equity". SFAS No. 150
establishes standards on the classification and measurement of certain
instruments with characteristics of both liabilities and equity. The provisions
of SFAS No. 150 are effective for financial instruments entered into or modified
after May 31, 2002 and to all other instruments that exist as of the beginning
of the first interim financial reporting period beginning after June 15, 2003.
SFAS No. 150 did not have a material effect on the Company's financial position,
results of operations or cash flows.

EITF 03-11, "Reporting Gains and Losses on Derivative Instruments That are
Subject to FASB Statement No. 133, Accounting for Derivative Instruments and
Hedging Activities, and Not Held for Trading Purposes".

In August 2003, the EITF reached a consensus that all gains and losses (realized
and unrealized) on derivative instruments within the scope of SFAS 133 should be
shown net in the income statement, whether or not settled physically, if the
derivative instruments are held for trading purposes. However, the EITF
recognized that there may be contracts within the scope of SFAS 133 considered
not held for trading purposes that warrant further consideration as to the
appropriate income statement classification of the gains and losses. In EITF
03-11, the EITF clarified certain criteria to use in determining whether gains
and losses related to non-trading derivative instruments should be shown net in
the income statement. The adoption of EITF 03-11 did not have a material effect
on the Company's financial position, results of operations or cash flows.

On December 2004, the FASB issued SFAS No. 123R, "Accounting for Stock-Based
Compensation". This statement is a revision to SFAS No. 123, "Accounting for
Stock-Based Compensation" and supersedes APB Opinion No.25, "Accounting for
Stock Issued to Employees". This statement requires a public entity to measure
the cost of employee services received in exchange for an award of equity
instruments based on the grant-date fair value of the award (with limited
exceptions).That cost will be recognized over the period during which an
employee is required to provide service, the requisite service period (usually
the vesting period). The grant-date fair value of employee share options and
similar instruments will be estimated using option-pricing models.

In addition, a public entity is required to measure the cost of employee
services received in exchange for an award of liability instruments based on its
current value. The fair value of that award will be re-measured subsequently at
each reporting date through the settlement date. Changes in fair value during
the requisite service period will be recognized as compensation cost over the
period.

For public entities that file as small business issuers, this statement is
effective as of the beginning of the first interim or annual reporting period
that begins after December 15, 2005.

At the required effective date, all public entities that used the fair value
method for either recognition or disclosure under Statement 123 are required to
apply this statement using a modified version of prospective application. Under
that transition method, compensation cost is recognized on or after the required
effective date for the portion of outstanding awards for which the requisite
service has not yet been rendered, based on the grant-date fair value of those
awards calculated under Statement 123 for either recognition or pro-forma
disclosures. For periods before the required effective date, those entities may
elect to apply the modified version of retrospective application under which
financial statements for prior periods are adjusted on a basis consistent with
the pro forma disclosures required for those periods by Statement 123. The
Company does not expect SFAS No. 123R to have a material effect on its financial
statements.

NOTE 2. COMMON STOCK

        Effective February 1, 1999, the Company effected a 1 for 20 reverse
split of our common stock.


         Effective April 22, 1999, the Company filed Articles of Amendment,
which increased its capitalization to 200,000,000 shares of common stock. In
addition, effective April 22, 1999, the Company forward split their issued and
outstanding common stock 100 for 1.

                                       8
<PAGE>

NOTE 3. INCOME TAXES

           The Company accounts for income taxes in accordance with SFAS No.
109, "Accounting for Income Taxes". Accordingly, deferred income would be
provided to show the effect of temporary differences between the recognition of
revenue and expenses for financial and income tax reporting purposes and between
the tax basis of assets and liabilities and their reported amounts in the
financial statements.

            At March 31, 2005, the Company has available approximately $90,577
of net operating losses. The Company has provided a valuation allowance to fully
offset those tax benefits that might be recognized in the future, due to the
uncertainty of their utilization. These losses begin expiring in 2013.

NOTE 4. GOING CONCERN

        As shown in the accompanying financial statements, the Company is in the
development stage, have yet to generate operating revenues and will require a
significant amount of capital to commence it's planned principal operations. As
reflected in the accompanying financial statements, the Company has incurred
accumulated losses since inception of $90,577 and has raised an insignificant
amount of capital. As such, there is no assurance that the Company will be
successful in its efforts to raise the necessary capital to commence its planned
principal operations.

        The Company's plans include a merger and a subsequent public offering of
common stock; however there is no assurance that the Company will be successful
in its efforts to raise capital or to obtain a business combination.

        These conditions raise substantial doubt about the Company's ability to
continue as a going concern. The financial statements do not include any
adjustments that might result from the outcome of these uncertainties.


                                        9
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS.

         The Registrant has not, as of the end of the three month period ended
March 31, 2005, commenced active business operations. As of March 31, 2005 the
Registrant had assets in the amount of $1, no liabilities, and the total
Shareholders' Equity was $1.

         The Registrant has no reasonable basis for comparison with respect to
its quarterly financial results in that the Company has not yet commenced its
business operations.

         The recurring professional fees and other costs of complying with
filings with the Securities and Exchange Commission, the Internal Revenue
Service and others is being funded through contributions to capital by the
Company's principal shareholder.

                                       10
<PAGE>

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

         Not Applicable

ITEM 2. CHANGES IN SECURITIES

         Effective April 22, 1999, the Company filed Articles of Amendment,
which increased the Company's capitalization to 200,000,000 shares of common
stock. In addition, effective April 22, 1999, the Company forward split its
issued and outstanding common stock 100 for 1.

         The issued and outstanding common stock after the recapitalization
consists of 50,003,000 shares, par value $0.001.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

         Not Applicable

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY- HOLDERS

         Not Applicable

ITEM 5. OTHER INFORMATION

         On July 29, 2004 Mr. Huang, Yahe accepted the position of Chairman of
the Board of Yang Holding Company. Mr. Huang is a citizen and resident of the
People's Republic of China and is President of Yongda Venture Group, Inc., a
Florida Corporation. Mr. Huang is a very successful businessman.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

        Exhibit 31.1 Certification Pursuant to Rule 15-d-14(a)

        Exhibit 32.1 Certification Pursuant to 18 U.S.C. Section 1350, as
                     adopted pursuant to Section 906 of the Sarbanes-Oxley Act
                     of 2002

         REPORTS ON FORM 8-K

         On February 17, 1999 the Company filed a Form 8-K, which is
incorporated herein by reference. The Report principally dealt with a change in
the corporate name from National Advertising Group, Inc., to Yang Holding
Company.

                                       11
<PAGE>

PART II - OTHER INFORMATION - (Continued)

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - (Continued)

         Additionally, the February 17, 1999 Form 8-K disclosed a reverse split
of the outstanding shares of common stock, and the resignation of a director.

         On April 22, 1999, the Company filed a Form 8-K, which is incorporated
herein by reference. The Report principally dealt with the recapitalization of
the Company and the forward split of its outstanding shares of common stock.

         On April 12, 2000 the Company filed a Form 8-K, which is incorporated
herein by reference. The Report principally dealt with a change in the Company's
Certified Public Accountants, from Dohan and Company, P.A. to Berkovitz and
Company, P.A. and states there were no disagreements with Dohan and Company,P.A.

         On February 22, 2001 the Company filed a Form 8-K, which is
incorporated herein by reference. The Report principally dealt with a change in
the Company's Certified Public Accountants, from Berkovitz and Company, P.A. to
Puritz & Weintraub, LLP and states there were no disagreements with Berkovitz
and Company, P.A.

                                       12

<PAGE>

                                   SIGNATURES

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

                                       Registrant:

                                       YANG HOLDING COMPANY

                                       By: /s/ James Chow
                                           --------------------------
                                               JAMES CHOW
                                               President

Date: May 13, 2005

                                       13