**UNITED
      STATES SECURITIES AND EXCHANGECOMMISSION**


**Washington,
      DC 20549**


**FORM
      10-Q**




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




**For
      the quarterly period ended September 30, 2008**




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


**Commission
      file number 001-33799**


**2020
      CHINACAP ACQUIRCO, INC.**


(Exact
      name of registrant as specified in its charter)




**Delaware**
            
            **20-5500605**(State
                or other jurisdiction of
              Incorporation
                or organization)
            
            (I.R.S.
                Employer Identification No.)**c/o
                Surfmax Corporation****221
                Boston Post Road East**
              **Suite
                410**
              **Marlborough,
                Massachusetts**
            
            **01752**(Address
                of principal executive offices)
            
            (Zip
                Code)


**(508)
      624-4948**


Registrant’s
      telephone number, including area code


Indicate
      by check mark whether the Registrant (1) has filed all reports required to
      be filed by Section 13 or 15(d) of the Exchange Act during the past
      12 months (or for such shorter period that the Registrant was required to
      file such reports), and (2) has been subject to such filing requirements
      for the past 90 days. Yes þ No o


Indicate
      by check mark whether the registrant is large accelerated filer, an accelerated
      filer, a non-accelerated filer, or a smaller reporting company. See definition
      of “large accelerated filer”, “accelerated filer” and “smaller reporting
      company” in Rule 12b-2 of the Exchange Act. (Check one):


Large
      accelerated filed o Accelerated
      filer o


Non-accelerated
      filer o Smaller
      reporting company þ


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


As
      of
      September 30, 2008, 10,500,000 shares of the registrant’s common stock, par
      value $0.0001 per share, were outstanding.









**2020
      CHINACAP ACQUIRCO, INC.**


**(a
      development stage company)**


**Table
      of Contents**




**Page**PART
                I — FINANCIAL INFORMATIONItem
                1.Financial
                StatementsBalance
                Sheets as of September 30, 2008 (unaudited) and December 31,
                2007
            
            3Statements
                of Operations (unaudited) for the three and nine months ended September
                30, 2008 and 2007, and from August 21, 2006 (date of inception) to
                September 30, 2008
            
            4Statement
                of Stockholders’ Equity (unaudited) for the period from August 21, 2006
                (date of inception) to September 30, 2008
            
            5Statements
                of Cash Flows (unaudited) for the nine months ended September 30,
                2008 and
                2007, and from August 21, 2006 (date of inception) to September 30,
                2008
            
            6Notes
                to Financial Statements (unaudited)
            
            7Item
                2. Management’s Discussion and Analysis of Financial Condition and Results
                of Operations
            
            13Item
                3. Quantitative and Qualitative Disclosures about Market
                Risk
            
            15Item
                4. Controls and Procedures
            
            15PART
                II – OTHER INFORMATIONItem
                1. Legal Proceedings
            
            17Item
                1A. Risk Factors
            
            17Item
                2. Unregistered Sales of Equity Securities and Use of
                Proceeds
            
            17Item
                3. Defaults upon Senior Securities
            
            17Item
                4. Submission of Matters to a Vote of Security Holders
            
            17Item
                5. Other Information
            
            17Item
                6. Exhibits
            
            18SIGNATURES
            
            19INDEX
                TO EXHIBITSCertification
                by Principal Executive Officer Pursuant to Section 302Certification
                by Principal Financial Officer Pursuant to Section 302Certification
                by Principal Executive Officer and Principal Financial Officer Pursuant
                to
                Section 906




2




**Item 1.
      Financial Statements**




**2020
      CHINACAP ACQUIRCO, INC.**


**(a
      development stage company)**


**BALANCE
      SHEETS**




**Unaudited**
            
            **Audited****September 30,**
            
            **December 31,****2008**
            
            **2007****ASSETS****Current
                Assets**Cash
                and cash equivalents
            
            $
            39,822
            
            $
            269,040Interest
                receivable
            
            
            56,415
            
            
            —Prepaid
                expenses
            
            
            4,083
            
            
            16,333Deferred
                acquisition costs
            
            
            227,512
            
            
            —Cash
                held in trust fund
            
            
            68,540,725
            
            
            68,182,942**TOTAL
                ASSETS**
            
            $
            68,868,557
            
            $
            68,468,315**LIABILITIES
                AND STOCKHOLDERS’ EQUITY****Current
                Liabilities**Accrued
                offering costs
            
            $
            413,066
            
            $
            542,879Accrued
                expenses
            
            
            342,429
            
            
            28,948Accrued
                income taxes
            
            
            84,277
            
            
            1,225Payable
                to stockholders
            
            
            —
            
            
            20,244Notes
                payable to stockholders
            
            
            150,000
            
            
            127,291**Total
                current liabilities**
            
            
            989,772
            
            
            720,587**Long-term
                Liabilities**Deferred
                underwriters’ fees
            
            
            2,415,000
            
            
            2,415,000**TOTAL
                LIABILITIES**
            
            
            3,404,772
            
            
            3,135,587Common
                stock, subject to possible redemption, 2,586,638 shares, at redemption
                value
            
            
            20,486,172
            
            
            20,486,172**STOCKHOLDERS’
                EQUITY**Preferred
                stock — $0.0001 par value; 1,000,000 shares authorized; nil issued and
                outstanding
            
            
            —
            
            
            —Common
                stock - par value of $0.0001 per share, 25,000,000 shares authorized,
                10,500,000 shares issued and outstanding
            
            
            1,050
            
            
            1,050Additional
                paid-in capital
            
            
            44,838,564
            
            
            44,838,564Retained
                earnings
            
            
            137,999
            
            
            6,942Total
                stockholders’ equity
            
            
            44,977,613
            
            
            44,846,556**TOTAL
                LIABILITIES & STOCKHOLDERS’ EQUITY**
            
            $
            68,868,557
            
            $
            68,468,315


See
        accompanying notes to financial statements




3




**2020
      CHINACAP ACQUIRCO, INC.**


**(a
      development stage company)**


**STATEMENTS
      OF OPERATIONS**


**(Unaudited)**


**August 21,****2006****July 1,**
            
            **July 1,**
            
            **January 1,**
            
            **January 1,**
            
            **(date of inception)****2008 to**
            
            **2007 to**
            
            **2008 to**
            
            **2007 to**
            
            **to September 30,****September 30,**
            
            **September 30,**
            
            **September 30,**
            
            **September 30,**
            
            **2008****2008**
            
            **2007**
            
            **2008**
            
            **2007**
            
            **(Cumulative)****Interest
                income**
            
            **$**
            295,474
            
            **$**
            —
            
            **$**
            983,734
            
            **$**
            —
            
            **$**
            1,075,992General
                & administrative expenses
            
            
            270,435
            
            
            3,865
            
            
            764,318
            
            
            13,992
            
            
            848,409**Profit
                (loss) before income taxes**
            
            
            25,039
            
            
            (3,865
            )
            
            219,416
            
            
            (13,992
            )
            
            227,583**Income
                taxes (benefit) provision**
            
            
            10,084
            
            
            —
            
            
            88,359
            
            
            —
            
            
            89,584**Net
                profit (loss)**
            
            **$**
            14,955
            
            **$**
            (3,865
            )
            **$**
            131,057
            
            $
            (13,992
            )
            $
            137,999**Net
                profit (loss) per share**–**basic and diluted**
            
            **$**
            —
            
            **$**
            —
            
            **$**
            0.01
            
            **$**
            (0.01
            )
            **$**
            0.03**Weighted
                average number of shares outstanding**–**basic and diluted**
            
            
            10,500,000
            
            
            1,875,000
            
            
            10,500,000
            
            
            1,668,967
            
            
            5,409,406




See
      accompanying notes to financial statements ****




4


**2020
      CHINACAP ACQUIRCO, INC.**


**(a
      development stage company)**


**STATEMENT
      OF STOCKHOLDERS’ EQUITY**


**(In
      U.S. dollars, except share data)**


**(Unaudited)**


**For
      the period from August 21, 2006 (date of inception) to September 30,
      2008**




**Retained Earnings****/****(Deficit accumulated)****Additional**
            
            **during the**
            
            **Total****Common Stock**
            
            **paid-in**
            
            **development**
            
            **Stockholders’****Shares**
            
            **Amount**
            
            **capital**
            
            **Stage**
            
            **Equity**Issuance of common stock to founders and insiders on August 21, 2006 at $0.01 per share
            
            
            100
            
            $
            1
            
            $
            99
            
            $
            —
            
            $
            100Net loss
            
            
            —
            
            
            —
            
            
            —
            
            
            (3,825
            )
            
            (3,825
            )**Balance
                at December 31, 2006**
            
            
            100
            
            
            1
            
            
            99
            
            
            (3,825
            )
            
            (3,725
            )Issuance
                of common stock at $0.0001 per share
            
            
            1,874,900
            
            
            187
            
            
            24,713
            
            
            —
            
            
            24,900Sales
                of 7,500,000 units on November 15, 2007 at a price of $8 per unit,
                net of
                underwriters’ discount and offering costs (including 2,249,999 shares
                subject to possible redemption)
            
            
            7,500,000
            
            
            750
            
            
            54,664,936
            
            
            —
            
            
            54,665,686Sales
                of 1,125,000 units on November 26, 2007 at a price of $8 per unit,
                net of
                underwriters’ discount and offering costs (including 336,639 shares
                subject to possible redemption)
            
            
            1,125,000
            
            
            112
            
            
            8,369,888
            
            
            —
            
            
            8,370,000Common
                stock, subject to possible redemption, 2,586,638 shares
            
            
            —
            
            
            —
            
            
            (20,486,172
            )
            
            —
            
            
            (20,486,172
            )Proceeds
                from issuance of warrants
            
            
            —
            
            
            —
            
            
            2,265,000
            
            
            —
            
            
            2,265,000Proceeds
                from issuance of options
            
            
            —
            
            
            —
            
            
            100
            
            
            —
            
            
            100Net
                profit
            
            
            —
            
            
            —
            
            
            —
            
            
            10,767
            
            
            10,767**Balance
                at December 31, 2007**
            
            
            10,500,000
            
            
            1,050
            
            
            44,838,564
            
            
            6,942
            
            
            44,846,556Net
                profit
            
            
            —
            
            
            —
            
            
            —
            
            
            131,057
            
            
            131,057**Balance
                at September 30, 2008**
            
            
            10,500,000
            
            $
            1,050
            
            $
            44,838,564
            
            $
            137,999
            
            $
            44,977,613




See
      accompanying notes to financial statements




5


**2020
      CHINACAP ACQUIRCO, INC.**


**(a
      development stage company)**


**STATEMENTS
      OF CASH FLOWS**


**(Unaudited)**


**August 21, 2006****January 1,**
              
              **January 1,**
              
              **(date of inception)****2008 to**
              
              **2007 to**
              
              **to September 30,****September 30,**
              
              **September 30,**
              
              **2008****2008**
              
              **2007**
              
              **(Cumulative)****Cash
                  Flows from Operating Activities**Net
                  profit (loss)
              
              $
              131,057
              
              $
              (13,992
              )
              $
              137,999Adjustments
                  to reconcile net profit (loss) to net cash provided by (used in)
                  operating
                  activitiesChange
                  in assets and liabilities:Accrued
                  expenses
              
              
              313,481
              
              
              —
              
              
              342,429Accrued
                  income taxes
              
              
              83,053
              
              
              —
              
              
              84,278Interest
                  receivable
              
              
              (56,415
              )
              
              
              
              
              (56,415
              )Prepaid
                  expenses
              
              
              12,250
              
              
              —
              
              
              (4,083
              )Deferred
                  acquisition costs
              
              
              (227,512
              )
              
              
              
              
              (227,512
              )Net
                  cash provided by (used in) operating activities
              
              
              255,914
              
              
              (13,992
              )
              
              276,696**Net
                  Cash used in Investing Activities**Cash
                  held in trust fund
              
              
              (357,783
              )
              
              —
              
              
              (68,540,725
              )**Cash
                  Flows from Financing Activities**Proceeds
                  from issuance of common stock
              
              
              —
              
              
              24,900
              
              
              25,000Proceeds
                  from the issuance of notes payable to stockholders
              
              
              150,000
              
              
              80,000
              
              
              280,000Proceeds
                  from issuance of warrants
              
              
              —
              
              
              —
              
              
              2,265,000Gross
                  proceeds from public offering
              
              
              —
              
              
              —
              
              
              60,000,000Gross
                  proceeds from exercise of overallotment options in the
                  offering
              
              
              —
              
              
              —
              
              
              9,000,000Proceeds
                  from issuance of option
              
              
              —
              
              
              100
              
              
              100Payments
                  to stockholders
              
              
              (20,244
              )
              
              
              
              
              (20,244
              )Payments
                  for underwriters’ discount and offering costs
              
              
              (129,813
              )
              
              (46,203
              )
              
              (3,116,004
              )Principal
                  payments on notes payables
              
              
              (127,291
              )
              
              (243
              )
              
              (130,000
              )Net
                  cash (used in) provided by financing activities
              
              
              (127,348
              )
              
              58,554
              
              
              68,303,852Net
                  (decrease) increase in cash
              
              
              (229,217
              )
              
              44,562
              
              
              39,823**Cash
                  and cash equivalents, beginning of the period**
              
              
              269,040
              
              
              9,988
              
              
              —**Cash
                  and cash equivalents, end of the period**
              
              $
              39,823
              
              $
              54,550
              
              $
              39,823**Supplemental
                  schedule of non-cash financing activities:**Accrual
                  of deferred offering costs
              
              $
              —
              
              $
              566,636
              
              $
              413,066Deferred
                  offering costs advanced by stockholders
              
              $
              —
              
              $
              100
              
              $
              20,244Deferred
                  underwriters’ fee
              
              $
              —
              
              $
              —
              
              $
              2,415,000





See
      accompanying notes to financial statements




6




**2020
      CHINACAP ACQUIRCO, INC.**


**(A
      Development Stage Company)**


**NOTES
      TO FINANCIAL STATEMENTS**





**Note
      1** – **Interim Financial Information**


The
      financial statements at September 30, 2008 and for the period ended September
      30, 2008 have been prepared by the Company and are unaudited. In the opinion
      of
      management, all adjustments (consisting of normal accruals and recurring items)
      have been made that are necessary to present fairly the financial position
      of
      2020 ChinaCap Acquirco, Inc. (the “Company”) as of September 30, 2008 and the
      results of its operations and cash flows for the periods ended September 30,
      2008 and 2007. Operating results presented for the interim periods are not
      necessarily indicative of the results to be expected for any other interim
      period or for the full year.





These
      unaudited financial statements should be read in conjunction with the financial
      statements and notes thereto for the period ended December 31, 2007 included
      in
      the Company’s Annual Report on Form 10-K filed with the Securities and Exchange
      Commission (the “SEC”) on April 15, 2008. The accounting policies used in
      preparing these unaudited financial statements are consistent with those
      described in such filing.





**Note
      2** – **Organization, Business Operations and Summary of Significant Accounting
      Policies**


The
      Company was incorporated in Delaware on August 21, 2006 as a public
      acquisition company whose objective is to acquire an operating business that
      either: (1) is located in the People’s Republic of China, the Hong Kong
      Special Administrative Region or the Macau Special Administrative Region
      (collectively, “China”), (2) has its principal operations located in China,
      or (3) in the view of the Board of Directors of the Company, would benefit
      from establishing operations in China. Upon formation, the authorized share
      capital was 3,000 shares of common stock with par value of $0.01 per share.
      According to the preorganization subscription agreement dated August 18,
      2006 with the director and initial stockholder, the Company issued 100 shares
      of
      common stock with par value of $0.01 per share to the initial stockholder at
      $1.00 each. On January 31, 2007, the initial stockholder and the director
      effected several changes to the Company’s corporate structure by consent in lieu
      of a special meeting, and amended its Certificate of Incorporation as
      follows:





•
            
            Increased
                the number of the authorized shares of the Company’s common stock from
                3,000 to 25,000,000, with par value of $0.0001 per
                share;




•
            
            Authorized
                1,000,000 shares of preferred stock, with par value of $0.0001 per
                share;
                and




•
            
            Provided
                that, absent a duly authorized amendment to the Certificate of
                Incorporation upon the consummation of a Business Combination, the
                Company
                will continue in existence only to November 8, 2009.




In
      addition to effecting the preceding amendments to the Company’s Certificate of
      Incorporation, the Company also issued an additional 1,874,900 shares of common
      stock with par value of $0.0001 per share for $24,900 by unanimous written
      consent in lieu of a special meeting of the Board of Directors dated as of
      January 31, 2007.




At
      September 30, 2008, the Company had not yet commenced any operations. All
      activities through September 30, 2008 were related to the Company’s
      formation, the public offering described below in Note 3 (the “Offering”) and
      the general administration of the Company. The Company has selected
      December 31 as its fiscal year-end.




The
      Company’s management has broad discretion with respect to the specific
      application of the net proceeds from the Offering. Although substantially all
      of
      the net proceeds of the Offering are intended to be generally applied toward
      consummating a business combination with an operating business that has its
      principal operations located in China (“Business Combination”), there is no
      assurance that the Company will be able to successfully effect a Business
      Combination. Upon the closing of the Offering, $7.92 per Unit of the proceeds
      from the Offering, net of all applicable discounts and commissions but inclusive
      of $0.28 per Unit in deferred underwriting compensation, and the proceeds from
      the sale of the Insider Warrants (as defined below) were deposited and held
      in a
      trust account for the benefit of the Company. The corpus of the Trust Account
      will be invested in United States “government securities” within the meaning of
      Section 2(a)(16) of the Investment Company Act having a maturity of 180
      days or less or in money market funds meeting certain conditions under Rule
      2a-7
      promulgated under the Investment Company Act until the earlier of (i) the
      consummation of its first Business Combination or (ii) liquidation of the
      Company. The placing of funds in the Trust Account may not protect those funds
      from third party claims against the Company. Although the Company will seek
      to
      have all vendors, prospective target businesses or other entities it engages,
      execute agreements with the Company waiving any right, title, interest or claim
      of any kind in or to any monies held in the Trust Account, there is no guarantee
      that they will execute such agreements.




7




The
      Company’s executive officers and Dr. Jianming Yu, one of the Company’s
      directors, and certain entities controlled by these executive officers and
      Dr. Jianming Yu have agreed that they will be personally liable under
      certain circumstances to ensure that the proceeds in the Trust Account are
      not
      reduced by the claims of target businesses or vendors or other entities that
      are
      owed money by the Company for services rendered or contracted or for products
      sold to the Company. However, there can be no assurance that they will be able
      to satisfy those obligations. The remaining net proceeds (not held in the Trust
      Account) may be used to pay for business, legal and accounting due diligence
      on
      prospective acquisitions and continuing general and administrative expenses.
      Additionally, up to an aggregate of $1,350,000 of interest earned on the Trust
      Account balance, net of taxes, may be released to the Company to fund working
      capital requirements, of which $569,539 has been released to the Company as
      of
      September 30, 2008. The Company, after signing a definitive agreement for the
      acquisition of a target business, is required to submit such transaction for
      stockholder approval. In the event that stockholders owning 30% or more of
      the
      shares sold in the Offering vote against the Business Combination and exercise
      their conversion rights described below, the Business Combination will not
      be
      consummated. All of the Company’s stockholders prior to the Offering, including
      all of the officers and directors of the Company (“Initial Stockholders”), have
      agreed to vote their 1,875,000 founding shares of common stock in accordance
      with the vote of the majority in interest of all other stockholders of the
      Company (“Public Stockholders”) with respect to any Business Combination. After
      consummation of a Business Combination, these voting safeguards will no longer
      be applicable.




With
      respect to a Business Combination that is approved and consummated, any Public
      Stockholder who votes against the Business Combination may demand that the
      Company convert his or her shares. The per share conversion price will equal
      the
      amount in the Trust Account, calculated as of two business days prior to the
      consummation of the proposed Business Combination, divided by the number of
      shares of common stock held by Public Stockholders at the consummation of the
      Offering. Accordingly, Public Stockholders holding up to 29.99% of the aggregate
      number of shares owned by all Public Stockholders may seek conversion of their
      shares in the event of a Business Combination. Such Public Stockholders are
      entitled to receive their per share interest in the Trust Account computed
      without regard to the shares held by the Initial Stockholders.




If
      the
      Company has not completed a Business Combination by November 8, 2009, its
      corporate existence will cease except for the purposes of winding up its affairs
      and it will liquidate. In the event of liquidation, it is likely that the per
      share value of the residual assets remaining available for distribution
      (including Trust Account assets) will be less than the initial public offering
      price per share in the Offering (assuming no value is attributed to the Warrants
      contained in the Units offered in the Offering discussed in Note 3).




**Summary
      of Significant Accounting Policies**




***Development
      stage company:***




The
      Company complies with the reporting requirements of Statements of Financial
      Accounting Standards (“SFAS”) No. 7, “Accounting and Reporting by
      Development Stage Enterprises.”




8




***Net
      profit (loss) per common share:***


The
      Company complies with accounting and disclosure requirements of SFAS
      No. 128, “Earnings Per Share.” Net profit (loss) per common share is
      computed by dividing net profit (loss) by the weighted average number of common
      shares outstanding for the period, except where the result would be
      antidilutive. Net profit (loss) per share of common stock, assuming dilution,
      reflects the maximum potential dilution that could occur if securities or other
      contracts to issue common stock were exercised or converted into common stock
      and would then share in the net profit (loss) of the Company.




***Concentration
      of credit risk:***


Financial
      instruments that potentially subject the Company to concentrations of credit
      risk consist of cash accounts in a financial institution, which at times exceed
      the Federal depository insurance coverage of $100,000 during the three months
      ended September 30, 2008. On October 3, 2008, the FDIC increased the amount
      of
      Federal depository insurance coverage to $250,000 through December 31, 2009.
      The
      Company has not experienced losses on these accounts and management believes
      the
      Company is not exposed to significant risks on such accounts.




***Fair
      value of financial instruments:***


The
      fair
      value of the Company’s assets and liabilities, which qualify as financial
      instruments under SFAS No. 107, “Disclosure About Fair Value of Financial
      Instruments,” approximates the carrying amounts represented in the balance
      sheet.




***Use
      of estimates:***


The
      preparation of financial statements in conformity with accounting principles
      generally accepted in the United States of America requires management to make
      estimates and assumptions that affect the reported amounts of 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.




***Income
      taxes:***


The
      Company complies with SFAS 109, “Accounting for Income Taxes,” which requires an
      asset and liability approach to financial accounting and reporting for income
      taxes. Deferred income tax assets and liabilities are computed for differences
      between the financial statement and tax bases of assets and liabilities that
      will result in future taxable or deductible amounts, based on enacted tax laws
      and rates applicable to the periods in which the differences are expected to
      affect taxable income. Valuation allowances are established, when necessary,
      to
      reduce deferred tax assets to the amount expected to be realized.




Effective
      January 1, 2007, the Company adopted the provisions of the Financial
      Accounting Standards Board (“FASB”) Interpretation No. 48, “Accounting for
      Uncertainty in Income Taxes — an interpretation of FASB Statement No. 109”
(“FIN 48”). There were no unrecognized tax benefits as of December 31, 2007 or
      September 30, 2008. FIN 48 prescribes a recognition threshold and a
      measurement attribute for the financial statement recognition and measurement
      of
      tax positions taken or expected to be taken in a tax return. For those
      benefits to be recognized, a tax position must be more-likely-than-not to be
      sustained upon examination by taxing authorities. The Company recognizes
      accrued interest and penalties related to unrecognized tax benefits as income
      tax expense. No amounts were accrued for the payment of interest and
      penalties at December 31, 2007 or September 30, 2008.  Management is
      currently unaware of any issues under review that could result in significant
      payments, accruals or material deviations from its position. The adoption of
      the
      provisions of FIN 48 did not have a material impact on the Company’s financial
      position, results of operations and cash flows.




***Recently
      issued accounting standards:***




In
      December 2007, FASB issued SFAS No. 141R, Business Combinations. SFAS No. 141R
      replaces SFAS No. 141, Business Combinations. SFAS No. 141R establishes
      principles and requirements for determining how an enterprise recognizes and
      measures the fair value of certain assets and liabilities acquired in a business
      combination, including non-controlling interests, contingent consideration
      and
      certain acquired contingencies. SFAS No. 141R also requires acquisition-related
      transaction expenses and restructuring costs be expensed as incurred rather
      than
      capitalized as a component of the business combination. This Statement shall
      be
      applied prospectively to business combinations for which the acquisition date
      is
      on or after the beginning of the first annual reporting period beginning on
      or
      after December 15, 2008. Management is currently evaluating the impact of the
      adoption of this statement; however, it is not expected to have a material
      impact on our financial position, results of operation or cash
      flows.




9




In
      December 2007, FASB issued SFAS No. 160, Non-controlling Interests in
      Consolidated Financial Statements — an amendment of Accounting
      Research Bulletin (“ARB”) No. 51. SFAS No. 160 requires that accounting and
      reporting for minority interests will be recharacterized as non-controlling
      interests and classified as a component of equity. SFAS No. 160 also establishes
      reporting requirements that provide sufficient disclosures that clearly identify
      and distinguish between the interests of the parent and the interests of the
      non-controlling owners. SFAS No. 160 applies to all entities that prepare
      consolidated financial statements, except not-for-profit organizations, but
      will
      affect only those entities that have an outstanding non-controlling interest
      in
      one or more subsidiaries or that deconsolidate a subsidiary. This Statement
      shall be effective for fiscal years, and interim periods within those fiscal
      years, beginning on or after December 15, 2008. Management is currently
      evaluating the impact of the adoption of this statement; however, it is not
      expected to have a material impact on our financial position, results of
      operation or cash flows.




In
      March
      2008, the FASB issued SFAS No. 161, “Disclosures about Derivative Instruments
      and Hedging Activities.” SFAS No. 161 requires disclosures of how and why an
      entity uses derivative instruments; how derivative instruments and related
      hedged items are accounted for; and how derivative instruments and related
      hedged items affect an entity’s financial position, financial performance and
      cash flows. SFAS No. 161 is effective for the company beginning January 1,
      2009.
      The company does not expect a material effect from adoption of this
      standard.




Management
      does not believe that any recently issued, but not yet effective, accounting
      standards if currently adopted would have a material effect on the accompanying
      financial statements.





**Note
      3** – **Public Offering**


On
      November 15, 2007, the Company consummated the sale of 7,500,000 units
      (“Units”) at a price of $8.00 per Unit in the Offering. Each Unit consists of
      one share of the Company’s common stock, $0.0001 par value, and one redeemable
      common stock purchase warrant (“Warrants”). Each Warrant entitles the holder to
      purchase from the Company one share of common stock at an exercise price of
      $5.25 commencing on the later of (i) November 8, 2008 or (ii) the
      completion of a Business Combination with a target business, and expires on
      November 8, 2011. The Warrants are redeemable at a price of $0.01 per
      Warrant upon 30 days prior notice after the Warrants become exercisable, only
      in
      the event that the last sale price of the common stock is at least $11.50 per
      share for any 20 trading days within a 30 trading day period ending on the
      third
      business day prior to the date on which notice of redemption is given. In
      accordance with the warrant agreement relating to the Warrants sold and issued
      in the Offering, the Company is only required to use its best efforts to
      maintain the effectiveness of the registration statement covering the Warrants.
      The Company will not be obligated to deliver securities, and there are no
      contractual penalties for failure to deliver securities, if a registration
      statement is not effective at the time of exercise. Additionally, in the event
      that a registration is not effective at the time of exercise, the holder of
      such
      Warrants shall not be entitled to exercise such Warrants and in no event
      (whether in the case of a registration statement not being effective or
      otherwise) will the Company be required to net cash settle the warrant exercise.
      Consequently, the Warrants may expire unexercised and unredeemed.




On
      November 26, 2007, the underwriters of the Offering exercised their
      over-allotment option to the extent of 1,125,000 Units. The 8,625,000 Units
      sold in the Offering, including the 1,125,000 Units subject to the
      over-allotment option, were sold at an offering price of $8.00 per Unit,
      generating gross proceeds of $69,000,000. $68,090,685, including $2,265,000
      of proceeds from the previously-announced private placement of the warrants
      issued to entities affiliated with the management team, has been placed in
      the
      Trust Account.




10




The
      Company paid the underwriters in the Offering an underwriting discount of 3.5%
      of the gross proceeds of the Offering. The underwriters have agreed that an
      additional 3.5% of the underwriting discount will not be payable unless and
      until the Company completes a Business Combination and have waived their right
      to receive such payment upon the Company’s liquidation if it is unable to
      complete a Business Combination. The Company has also issued a unit purchase
      option for $100 to Morgan Joseph to purchase 550,000 Units at an exercise price
      of $10.00 per Unit. The Units issuable upon exercise of this option are
      identical to the Units offered in the Offering. The Company accounted for the
      fair value of the unit purchase option, inclusive of the receipt of the $100
      cash payment, as an expense of the Offering resulting in a charge directly
      to
      stockholders’ equity. The Company estimates that the fair value of this unit
      purchase option is approximately $1,657,226 ($3.01 per Unit) using a
      Black-Scholes option-pricing model. The fair value of the unit purchase option
      granted to the underwriters is estimated as of the date of grant using the
      following assumptions: (1) expected volatility of 45.46%,
      (2) risk-free interest rate of 3.67%, and (3) expected life of 5
      years. The unit purchase option may be exercised for cash or on a *“cashless”* basis,
      at the holder’s option, such that the holder may use the appreciated value of
      the unit purchase option (the difference between the exercise prices of the
      unit
      purchase option and the underlying Warrants and the market price of the Units
      and underlying securities) to exercise the unit purchase option without the
      payment of any cash. The Company will have no obligation to net cash settle
      the
      exercise of the unit purchase option or the Warrants underlying the unit
      purchase option. If the holder is unable to exercise the unit purchase option
      or
      underlying Warrants, the unit purchase option or Warrants, as applicable, will
      expire worthless.





**Note
      4** – **Deferred and Accrued Offering Costs**


Deferred
      and accrued offering costs consist principally of legal fees, underwriting
      fees
      and other costs incurred through the balance sheet date that are directly
      related to the Offering described in Note 3 and that were charged to
      stockholders’ equity upon the receipt of the capital raised.




The
      Company’s legal counsel agreed to cap legal fees due by the Company at the
      Closing to $350,000, provided that any excess fees shall be paid by the Company
      upon the completion of a Business Combination. Total legal fees payable included
      in accrued offering costs were $409,908 and $409,908 as of September 30, 2008
      and December 31, 2007, respectively.




Upon
      completion of the Offering of 8,625,000 Units (including 1,125,000 Units
      pursuant to the underwriters’ over-allotment option sold on November 26,
      2007) at a price of $8 per unit, the Company received net proceeds of
      approximately $68,240,685 from the Offering, after deducting offering expenses
      of approximately $5,439,315 which included underwriting discounts of $4,830,000.
      This amount includes $2,415,000 of the underwriting discounts and commissions
      due (deferred underwriters’ fees) which the underwriters have agreed will not be
      payable unless and until the Company consummates a Business
      Combination.




**Note
      5** – **Notes Payable to Stockholders**


In
      December 2006, the Company issued a $50,000 unsecured promissory note to one
      of
      its Initial Stockholders, who is also an officer and director of the Company.
      Under the terms of the note, as amended, the Company may reduce the amount
      of
      the note payable by offsetting any funds advanced by the Company to third
      parties at the direction of the lender. The amount of the note payable was
      reduced in this manner to $47,291 as of December 31, 2007. The note payable
      was
      non-interest bearing and was initially payable on the earlier of December 17,
      2007 or the consummation of the Offering. On November 15, 2007, the holders
      of the $50,000 unsecured promissory note and the Company agreed to extend the
      repayment date of the unsecured promissory note to March 31, 2008. Due to the
      short-term nature of the note, the fair value of the note approximates its
      carrying amount.




In
      April
      2007, the Company issued a $80,000 unsecured promissory note to 2020
      International Capital Group Limited, the beneficial owner of a majority of
      the
      outstanding shares of stock of the Company at the time such promissory note
      was
      issued. The note payable was non-interest bearing and
      was
      payable on the earlier of April 5, 2008 or the consummation of the Offering.
      On
      November 15, 2007, the holders of the $80,000 unsecured promissory note and
      the Company agreed to change the repayment date of the unsecured promissory
      note
      to  March 31,
      2008 .





Both
      notes were repaid in full by the Company on March 31, 2008 and each note was
      cancelled as of September 30, 2008.





In
      August
      2008, the Company issued a $150,000 unsecured promissory note to 2020
      International Capital Group Limited, a company owned and controlled by our
      directors and executive officers. 2020 International Capital Group Limited
      was
      the beneficial owner of 13% of the outstanding common stock of the Company
      at
      the time the promissory note was issued. The note payable is non-interest
      bearing and is due in August 2009 or at which time 2020 International Capital
      Group Limited demands full or partial payment of any balance outstanding. The
      proceeds from the note shall be used by the Company for working capital
      purposes. The full amount was still outstanding as at September 30, 2008.




11




**Note
      6** – **Related Party Transactions**





**Payable
      to Stockholders**





Several
      stockholders of the Company have advanced funds to settle certain deferred
      offering costs and organization costs on behalf of the Company. The advances
      are
      non-interest bearing and are payable on demand. The amount payable to
      stockholders of $20,244 as of December 31, 2007 was repaid in full by the
      Company before September 30, 2008.





**Lease
      from Related Party**





The
      Company presently occupies office space provided by a company owned by the
      Company’s Chairman of the Board, Chief Executive Officer and President. Such
      entity has agreed that, until the Company consummates a Business Combination,
      it
      will make such office space, as well as utilities, administrative, technology
      and secretarial services, available to the Company, as may be required by the
      Company from time to time. The Company has agreed to pay such entity $7,500
      per
      month for such services commencing on November 8, 2007. The Company has
      incurred $67,500 and Nil for the nine months ended September 30, 2008 and 2007,
      respectively, and $82,500 from August 21, 2006 (date of inception) to September
      30, 2008.




**Note
      7** – **Preferred Stock**


The
      Company is authorized to issue 1,000,000 shares of preferred stock with such
      designations, voting and other rights and preferences as may be determined
      from
      time to time by the Board of Directors. As of September 30, 2008, no preferred
      stock is issued or outstanding. The agreement with the underwriters prohibits
      the Company, prior to a Business Combination, from issuing preferred stock
      that
      participates in the proceeds of the Trust Account or that votes as a class
      with
      the Common Stock on a Business Combination.




**Note
      8** – **Income Tax**


The
      components of the provision for income taxes are as follows:


**Nine months**
            
            **Nine months**
            
            **August 21, 2006,****Ended**
            
            **Ended**
            
            **(date of inception)****September 30,2008**
            
            **September 30,2007**
            
            **to September 30,2008 (Cumulative)**(unaudited)
            
            (unaudited)
            
            (unaudited)Current:Federal
                taxes
            
            $
            74,602
            
            $
            —
            
            $
            74,602State
                taxes
            
            
            13,757
            
            
            —
            
            
            14,982Total
                provision for income taxes
            
            $
            88,359
            
            $
            —
            
            $
            89,584





The
      total
      provision for income taxes differs from that amount which would be computed
      by
      applying the U.S. Federal income tax rate to income before provision for income
      taxes as follow:


**Nine months**
            
            **Nine months**
            
            **August 21, 2006,****Ended**
            
            **Ended**
            
            **(date of inception)****September 30,2008**
            
            **September 30,2007**
            
            **to September 30,2008 (Cumulative)**(unaudited)
            
            (unaudited)
            
            (unaudited)Statutory
                Federal income tax rate
            
            $
            34.00
            %
            $
            —
            
            $
            32.78
            %Effective
                Mass income tax rate
            
            
            6.27
            %
            
            —
            
            
            6.58
            %Effective
                income tax rate
            
            $
            40.27
            %
            $
            —
            
            $
            39.36
            %




12




**Note
      9** – **Commitments**


The
      Company presently occupies office space provided by a company owned by the
      Company’s Chairman of the Board, Chief Executive Officer and President. Such
      entity has agreed that, until the Company consummates a Business Combination,
      it
      will make such office space, as well as utilities, administrative, technology
      and secretarial services, available to the Company, as may be required by the
      Company from time to time. The Company has agreed to pay such entity $7,500
      per
      month for such services commencing on November 8, 2007.





Pursuant
      to letter agreements between each of the Initial Stockholders, the Company
      and
      Morgan Joseph, the Initial Stockholders have waived their rights to receive
      distributions with respect to the 1,875,000 founding shares in the event the
      Company is liquidated in accordance with its Articles of Incorporation on
      November 8, 2009.





On
      November 15, 2007, Win Wide International, Ltd, a British Virgin Islands
      international business company (“Win Wide”), an entity in which George Lu, the
      Company’s Chairman, Chief Executive Officer and President, his spouse, Yanmei
      May Yang, and Jianming Yu, one of the Company’s directors, collectively own
      approximately 67% of the outstanding securities, and Surfmax Co-Investments
      II,
      LLC, a Delaware limited liability company in which Mr. Lu currently owns
      all of the outstanding securities, purchased privately from the Company a total
      of 2,265,000 warrants at $1.00 per warrant (for an aggregate purchase price
      of
      $2,265,000, the “Insider Warrants”). This purchase took place simultaneously
      with the consummation of the Offering. All of the proceeds received from this
      purchase were placed in the Trust Account. The Insider Warrants purchased are
      identical to the Warrants underlying the Units offered in the Offering except
      that the Insider Warrants may be exercisable, at the holder’s option, on a
“cashless basis” so long as such securities are held by such Initial Holders or
      their affiliates. Additionally, such purchasers have agreed that the Insider
      Warrants will not be sold or transferred by them until after the Company has
      completed a Business Combination. If these warrants are exercised on a cashless
      basis, the holder of the insider warrants would pay the exercise price by
      surrendering his warrants for that number of shares of common stock equal to
      the
      quotient obtained by dividing (x) the product of the number of shares of
      common stock underlying the warrants, multiplied by the difference between
      the
      exercise price of the warrants and the “fair market value” (defined below) by
      (y) the fair market value. The “fair market value” shall mean the average
      reported last sale price of the common stock for the 10 trading days ending
      on
      the third trading day prior to the date on which the notice of redemption is
      sent to holders of warrants.





The
      Company has determined that the purchase price of $1.00 per Insider Warrant
      is
      above the average trading price for warrants of similarly structured blank
      check
      companies. Accordingly, the Company believes that the purchase price of the
      Insider Warrants is greater than the fair value of the warrants included in
      the
      units and, therefore, the Company did not record compensation expense on the
      Insider Warrants.





The
      Initial Stockholders are entitled to registration rights with respect to their
      founding shares pursuant to an agreement signed on November 8, 2007. The
      holders of the majority of these shares are entitled to make up to two demands
      that the Company register these shares at any time after these shares are
      released from escrow six months following the consummation of Business
      Combination. In addition, the Initial Stockholders have certain “piggy-back”
registration rights on registration statements filed subsequent to
      November 8, 2010.





**Note
      10** – **Subsequent Events**





On
      October 30, 2008, the Company directed LaSalle Global Trust Services, the
      trustee of the Company’s assets being held in trust to transfer the funds held
      in trust from a money market fund which invests in U.S. Government obligations
      into the Dreyfus Treasury Prime Cash Management Fund which invests solely in
      U.S. treasury obligations.




**ITEM
      2. Management’s Discussion and Analysis of Financial Condition and Results of
      Operations.**




The
      following discussion should be read in conjunction with our Financial Statements
      and footnotes thereto contained in this report.


13




**Forward
      Looking Statements**




All
      statements other than statements of historical fact included in this Quarterly
      Report on Form 10-Q including without limitation, statements under “Management’s
      Discussion and Analysis of Financial Condition and Results of Operations”
regarding our financial position, business strategy and the plans and objectives
      of management for future operations, are “forward looking statements” within the
      meaning of the Private Securities Litigation Reform Act of 1995, Section 27A
      of
      the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
      1934. When used in this Form 10-Q, words such as “anticipate,” “believe,”
“estimate,” “expect,” “intend” and similar expressions, as they relate to us or
      our management, identify forward looking statements. Such forward looking
      statements are based on the beliefs of management, as well as assumptions made
      by, and information currently available to, our management. Actual results
      could
      differ materially from those contemplated by the forward looking statements
      as a
      result of certain factors detailed in our filings with the Securities and
      Exchange Commission. All subsequent written or oral forward looking statements
      attributable to us or persons acting on our behalf are qualified in their
      entirety by this paragraph.




**Overview**




We
      are a
      public acquisition company, formed on August 21, 2006, to complete a business
      combination with an operating business that either: (1) is located in
      China, (2) has its principal operations located in China, or, (3) in
      the view of the Board of Directors of the Company, would benefit from
      establishing operations in China. Our efforts to identify a prospective target
      business will not be limited to a particular industry. We intend to effect
      a
      business combination using cash from the proceeds of our initial public offering
      and the private placements of the sponsors’ warrants, our capital stock, debt or
      a combination of cash, stock and debt. On November 15, 2007, we completed our
      initial public offering of 8,625,000 Units (including 1,125,000 Units pursuant
      to the underwriters’ over-allotment option sold on November 26, 2007) at a price
      of $8 per unit. We received net proceeds of approximately $68.4 million from
      our
      Offering.





Pursuant
      to a warrant purchase agreement dated November 8, 2007, certain of the Initial
      Stockholders and their affiliates have purchased from the Company, in the
      aggregate, 2,265,000 Insider Warrants for $2,265,000. The purchase and issuance
      of the Insider Warrants in a private placement occurred simultaneously with
      the
      consummation of the Offering. All of the proceeds we received from these
      purchases were placed in the Trust Account.





For
      a
      description of the proceeds generated in our initial public offering and a
      discussion of the use of such proceeds, we refer you to Note 3 of the unaudited
      financial statements included in Part I, Item I of this Quarterly Report on
      Form
      10-Q.




**Results
      of Operations and Known Trends or Future Events**




For
      the
      three months ended September 30, 2008 and 2007, we had a net profit of $14,955
      and a net loss of $3,865, respectively.





For
      the
      nine months ended September 30, 2008 and 2007, we had a net profit of $131,057
      and a net loss of $13,992, respectively.





Our
      entire activity from August 21, 2006 (inception) through November 15, 2007
      had
      been to prepare for our initial public offering. Following our initial public
      offering, we began actively searching for a suitable business target to complete
      a business combination. For the nine months ended September 30, 2008, we earned
      interest income of $983,734 and a net profit of $131,057 as compared to the
      $13,992 net loss we realized for the same period in 2007 while we were in the
      early phase of preparing for our initial public offering.





14




**Liquidity
      and Capital Resources**




As
      of
      September 30, 2008, we had operating cash of $39,822, compared to $269,040
      at
      December 31, 2007. Until the initial public offering, as described above, our
      only source of liquidity was two loans made by two stockholders. These loans
      were fully repaid as of September 30, 2008. Our liabilities are mainly deferred
      and accrued offering costs related to our initial public offering payable upon
      completion of a Business Combination. Given our available operating cash of
      $39,823 and our projected interest income, to complete a Business Combination
      the Company expects to require additional financing to pay expenses associated
      with the identification of a target company and our due diligence
      review.




**Off-Balance
      Sheet Financing Arrangements**




We
      have
      no obligations, assets or liabilities that would be considered off-balance
      sheet
      arrangements.




**Contractual
      Obligations**




Other
      than the $7,500 per month fee for
      office space and general and administrative services, the accrued offering
      costs
      of $413,066 as described above, and the $2,415,000 deferred underwriting
      discounts as described in our Annual Report Form 10-K for the year ended
      December 31, 2007, the
      Company does not have any other long-term debt, capital lease obligations,
      operating lease obligations or long-term liabilities.




**Critical
      Accounting Policies**




The
      Company’s significant accounting policies are more fully described in Note 2 to
      the financial statements. However certain accounting policies are particularly
      important to the portrayal of financial position and results of operations
      and
      require the application of significant judgments by management. As a result,
      the
      financial statements are subject to an inherent degree of uncertainty. In
      applying those policies, management used its judgment to determine the
      appropriate assumptions to be used in determination of certain estimates. These
      estimates are based on the Company’s historical experience, terms of existing
      contracts, observance of trends in the industry and information available from
      outside sources, as appropriate.




**Cash
      Held in Trust Fund**




As
      stated
      in Note 2 – Organization, Business Operations and Summary of Significant
      Accounting Policies, net proceeds from the Offering were deposited and held
      in
      the Trust account, which were invested in United States “government
      securities”.





On
      October 15, 2008, in consideration of the current market conditions, the Company
      directed LaSalle Global Trust Services, to transfer the funds held in trust
      from
      a money market fund which invests in U.S. Government obligations into the
      Dreyfus Treasury Prime Cash Management Fund which invests solely in U.S.
      treasuries. The balance in the Trust Account as of September 30, 2008 was
      $68,540,725.




**ITEM
      3. Quantitative and Qualitative Disclosures about Market Risk.**




Not
      applicable.




**ITEM
      4. Controls and Procedures.**




Based
      on
      their evaluation as of the end of the period covered by this Quarterly Report
      on
      Form 10-Q, our principal executive officer and principal financial and
      accounting officer have concluded that our disclosure controls and procedures
      (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) were
      effective as of the end of the period covered by this report.





There
      were no changes in our internal controls over financial reporting in connection
      with the evaluation required by Rule 13-a(15(d) under the Exchange Act that
      occurred during the period covered by this Quarterly Report on Form 10-Q that
      have materially affected, or are reasonably likely to materially affect, our
      internal controls over financial reporting.




15




We
      believe that a control system, no matter how well designed and operated, cannot
      provide absolute assurance that the objectives of the control system are met,
      and no evaluation of controls can provide absolute assurance that all control
      issues and instances of fraud, if any, within a company have been detected.
      Our
      disclosure controls and procedures are designed to provide reasonable assurance
      of achieving their objectives, and our principal executive officer and our
      principal financial officer have concluded that these controls and procedures
      are effective at the reasonable assurance level.




16


**PART
      II** – **OTHER INFORMATION**




**ITEM
      1. Legal Proceedings.**




None.




**ITEM
      1A. Risk Factors.**




Factors
      that could cause our actual results to differ materially from those in this
      report are any of the risks described in our Annual Report on Form 10-K for
      the
      year ended December 31, 2007 filed with the SEC and the risks described below.
      Any of the factors could result in a significant or material adverse effect
      on
      our results of operations or financial condition. Additional risk factors not
      presently known to us or that we currently deem immaterial may also impair
      our
      business or results of operations.





**Current
      market conditions and the interests of our shareholders may make it difficult
      to
      complete an acquisition transaction.**


In
      recent
      months, volatility in the market has made the completion of transactions in
      general, and acquisition transactions by special purpose acquisition companies
      like us, more difficult. Potential target companies may be reluctant to enter
      into an agreement with us due to the decreased likelihood that the transaction
      would be approved by our shareholders in this market. In the event we do enter
      into an agreement with a potential target, we may be unable to obtain
      shareholder approval due to cash flow requirements or other interests of our
      shareholders. If we are unable to complete an acquisition transaction by
      November 8, 2009, we will be forced to liquidate the amounts in the Trust
      Account and distribute the proceeds to our shareholders





**Decreased
      returns from the Trust Account may make it difficult for us to fund our
      operating expenses prior to an acquisition transaction.**


Interest
      income from investments in treasury securities, such as the securities in which
      the Trust Account is invested, has decreased significantly in recent months.
      Our
      working capital is funded through interest received from the Trust Account,
      up
      to $1,350,000 and borrowings received from an affiliate. Since the interest
      payments from our Trust Account have decreased, we have received less interest
      income for our working capital needs. If interest rates do not increase or
      if we
      are unable to find alternative financing, such as through loans from our initial
      shareholders or others, we may be unable to pay our operating expenses and
      may
      be forced to liquidate.




**ITEM
      2. Unregistered Sales of Equity Securities and Use of Proceeds.**




None.




**ITEM
      3. Defaults Upon Senior Securities.**




None.




**ITEM
      4. Submission of Matters to a Vote of Security Holders.**




None.




**ITEM
      5. Other Information.**




On
      October 30, 2008, 2020 ChinaCap Acquirco, Inc. (the “Company”) issued a
      press release announcing details relating to its trust account investment
      portfolio. A copy of the press release issued by the Company is attached hereto
      as Exhibit 99.1.




17




**ITEM
      6. Exhibits.**




(a)
      Exhibits:





31.1
      -
      Section 302 Certification by Chief Executive Officer and President





31.2
      -
      Section 302 Certification by Chief Financial Officer and Treasurer





32.1
      -
      Section 906 Certification by Chief Executive Officer and President and by Chief
      Financial Officer and Treasurer




99.1
      -
      Press Release dated October 30, 2008





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**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 thereto
      duly authorized.




2020
      ChinaCap Acquirco, Inc.


Dated:
                  November 13, 2008
              By:
              /s/
                  G. George LuG.
                  George Lu
                Chairman,
                  Chief Executive Officer and President
                (Principal
                  Executive Officer)By:
              /s/
                  Louis F. KooLouis
                  F. Koo
                Vice
                  Chairman, Chief Financial Officer and Treasurer
                (Principal
                  Financial Officer)




EXHIBIT
      INDEX




EXHIBIT
      NO.




31.1
            
            Certification
                of Chief Executive Officer, pursuant to Rule 13a-14 and 15d-14 of
                the
                Securities Exchange Act of 1934.31.2
            
            Certification
                of Chief Financial Officer, pursuant to Rule 13a-14 and 15d-14 of
                the
                Securities Exchange Act of 193432.1
            
            Certification
                of Chief Executive Officer and Chief Financial Officer, pursuant
                to 18
                U.S.C. Section 1350, as adopted pursuant to Section 906 of the
                Sarbanes-Oxley Act of 2002.99.1
            
            Press
                Release dated October 30, 2008




19