Form 10-QSB
                 U.S. SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C. 20549



(X)  Quarterly report under section 13 or 15(d) of the Securities
Exchange Act of 1934 for the quarterly period ended September 30, 2005.

( )  Transition report under section 13 or 15(d) of the Securities
Exchange Act of 1934.

Commission File No:   000-30021

                         PARK HILL CAPITAL III CORP.
                 ---------------------------------------
                 (Name of small business in its charter)

        Nevada                               84-1492104
--------------------------               -----------------------
(State or other                      (IRS Employer Id.  No.)
jurisdiction of Incorporation)

P. O. Box 461029, Glendale, CO                             80246
----------------------------------------------------------------------
(Address of executive offices)                             Zip Code

                    (303) 394-1187
----------------------------------------------------------------------
(Issuer's telephone number, including area code)


-----------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since
last report)

Indicate by check mark whether the issuer (1) filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act during
the preceding 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 X  No
    ---   ---

Indicate the number of shares outstanding of each of the issuer's classes
of stock, as of the latest practicable date.

     Class of Securities                Shares Outstanding
                                        at September 30, 2005
     -------------------                -------------------

 Common Stock, $.001 par value                    3,536,000

Transitional Small Business Disclosure Format

Yes      No X
   ---     ---
<PAGE>

PART 1 - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

       (a)  The financial statements of registrant for the nine months
ended September 30, 2005, follow.  The financial statements reflect all
adjustments which are, in the opinion of management, necessary to a fair
statement of the results for the interim period presented.



                       NEW FIBER CLOTH TECHNOLOGY, INC.


                     CONSOLDIATED  FINANCIAL STATEMENTS
                    Quarter Ended September 30, 2006



                             CONTENTS


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


<PAGE>

                                NEW FIBER CLOTH TECHNOLOGY,INC.
                                              CONSOLIDATED BALANCE SHEET
                              September 30, 2006
                                 (UNAUDITED)


ASSETS

CURRENT ASSETS:
   Cash and cash equivalents                         $   9,321,727
   Short-term investment                                    12,631
   Notes Receivables                                     5,909,207
   Accounts receivables                                  6,028,027
   Other receivables                                    11,231,605
   Prepayments                                           3,601,763
   Inventories                                           5,414,005
                                                     -------------

     Total current assets                               41,518,965
                                                     -------------


  LONG TERM ASSETS
   Plant, Property and Equipment-Cost                  $10,653,002
   Less: Accumulated Depreciation                       (3,452,752)
    Plant, Property and Equipment, Net Book Value      $ 7,200,250
                                                     -------------

  Construction-in-progress                               2,834,069
                                                     -------------

  TOTAL LONG TERM ASSETS                              $ 10,034,319
                                                     -------------

  Intangible assets-cost                              $    309,395
  Less: Accumulated amortization                           (24,507)
                                                     -------------
  Intangible assets, net                              $    284,888
                                                     -------------

 TOTAL ASSETS                                         $ 51,838,172
                                                     -------------



  LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

   Accounts payable                                   $  7,611,590
   Short-term loan                                       7,330,403
   Notes Payable                                         8,570,382
   Other payable                                         6,260,055
   Deposits from customers                               2,497,520
   Accrued expenses                                         81,711
   Tax payable                                             954,616
                                                     -------------

     Total current liabilities                          33,306,277
                                                     -------------


STOCKHOLDERS' EQUITY
   Common stock, $0.001 par value;
     200,000,000 shares authorized;
     77,720,000 shares issued and
     outstanding                                            77,720
   Additional paid-in capital                               89,830
   Other comprehensive income
    -  Capital Reserve                                   8,465,327
    -  Foreign exchange translation difference             312,573
    -  statutory reserve                                 1,528,774
    -  Retained earnings                                 8,057,707
                                                     -------------
            Total Shareholders' equity                  18,531,895
                                                     -------------

     TOTAL LIABILITIES AND STOCKHOLDERS'
       EQUITY                                       $   51,838,172
                                                     =============


The accompanying note is an integral part of the financial statements.

                                       1

<PAGE>

                        NEW FIBER CLOTH TECHNOLOGY, INC.
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                               (UNAUDITED)

                    For the       For the       For the        For the
                    Nine Months   Nine Months   Three Months   Three Months
                    Ended         Ended         Ended          Ended
                    Sept.30, 2006 Sept 30, 2005  Sept 30, 2006  Sept 30, 2005
                                 (PRO-FORMA)                    (PRO-FORMA)
                   -----------  ----------       ----------      ---------
REVENUES          $ 29,785,991 $ 24,874,616     $ 9,642,625     $ 8,129,544

COST OF SALES     $ 25,896,560 $ 21,079,830     $ 8,382,132     $ 6,962,340
                  ------------ ------------     -----------     -----------
GROSS PROFIT      $  3,889,431 $  3,794,786     $ 1,260,493     $ 1,167,204

EXPENSES
  Selling, general &
  administrative  $    425,690      529,962         175,308         220,616
                  ------------ ------------     -----------     -----------
 Profit from
 Continuing
 Operation        $  3,757,572   $3,449,213     $ 1,262,231     $ 1,125,420

 Other expenses         30,612       22,442          30,612          22,442
                  ------------ ------------     -----------     -----------
 Profit before tax $ 3,284,673  $ 2,326,233     $ 1,231,619     $ 1,102,978

 Appropriation to:
  -   Capital
  Reserve           $ (320,392)
  -   Statutory
  Reserve             (549,244)
  -   Dividend                  (3,540,755)

  Retained earnings
  Balance, Beginning
  of period          5,642,670   2,855,714        6,968,934       1,384,561
                  ------------ ------------     -----------     -----------
 Balance,
 End of period     $ 8,057,707  $ 1,641,192     $ 6,968,934     $ 1,384,561
                   =========== ============     ===========     ===========

WEIGHTED AVERAGE NUMBER
  OF SHARES
  OUTSTANDING       77,720,000   77,720,000      77,720,000      77,720,000
                   ===========   ==========      ==========      ==========

PRO-FORMA
EARNINGS PER
SHARE                    0.048       0.0441
                   -----------   ----------

The accompanying note is an integral part of the financial statements.

                                       2

<PAGE>

                            NEW FIBE CLOTH TECHNOLOGY, INC.
                            STATEMENTS OF CASH FLOWS
                                  (UNAUDITED)


                                     For Nine-month             For Nine-month
                                     Period ended               Period ended
                                     Sept. 30, 2006             Sept. 30, 2005
                                     --------------          -----------------
CASH FLOWS FROM
    OPERATING ACTIVITIES:

  Net Profits                            $3,284,673              $ 2,215,765
  Adjustments to reconcile
     net loss to net cash flows
     from operating activities:        $ (7,499,467)             $ 2,483,981
       Stock issued for services
                                       ------------              -----------

  Net cash flows from
   operating activities                $ (4,214,794)             $ 4,699,746

CASH FLOWS FROM
   INVESTING ACTIVITIES

Adjustments to reconcile
net loss to net cash flows
from investing activities:             $    492,211              $ 7,206,563

Net cash flows from
   investing activities                $    492,211              $ 7,206,563

CASH FLOWS FROM
    FINANCING ACTIVITIES

Adjustments to reconcile
net loss to net cash flows
from financing activities:             $  7,938,265              $  (410,755)
                                       ------------              -----------

  Net cash flows from
   financing activities                $  7,938,265              $  (410,755)
                                       ------------              -----------

  Net increase (decrease)
   in cash and cash
   equivalents                         $  4,215,682              $(2,870,914)

Effect of exchange
rate changes on cash                   $   (786,157)             $   643,683

CASH AND CASH EQUIVALENTS,
  Beginning of Period                  $    540,861              $ 4,055,458
                                       ------------              -----------
CASH AND CASH EQUIVALENTS,
       End of Period                   $  3,970,386              $   540,861
                                       ============              ===========


The accompanying note is an integral part of the financial statements.

                                       3
<PAGE>

                           NEW FIBER CLOTH TECHNOLOGY, INC.
                           NOTES TO FINANCIAL STATEMENTS
                               September 30, 2006
                                  (UNAUDITED)


1.  Management's Representation of Interim Financial Information
    ------------------------------------------------------------


The accompanying financial statements have been prepared by New Fiber Cloth
Technology, Inc. without audit pursuant to the rules and regulations of
the Securities and Exchange Commission.  Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles have been condensed or omitted
as allowed by such rules and regulations, and management believes that the
disclosures are adequate to make the information presented not misleading.
These financial statements include all of the adjustments which, in the
opinion of management, are necessary to a fair presentation of financial
position and results of operations.  All such adjustments are of a normal
and recurring  nature.  These financial statements should be read in
conjunction with the audited financial statements of the Company for the
year ended December 31, 2005 and notes thereto included in the Company's
10-KSB annual report. The Company follows the same accounting policies in
the preparation of interim reports.  Results of operations for interim
periods are not indicative of annual results.



                                       4

<PAGE>

Item 2.         Management's Discussion and Analysis Of Financial
                Conditions and Results of Operations.


Completion of Merger with Polara Global Limited

Following the close of merger and reorganization with Polara Global Limited, a
British Virgin Island limited liability company that 100% owns Deyi Fiber
Cloth Limited, the operating arm of the Group. The merger is completed with
the Company issuing 73,834,000 shares of common stock to acquire the 100%
ownership of the Company on July 30, 2006, the operating result reported
herein includes the nine-month period ended Septmeber 30, 2006 and also for
the pro-forma result for comparative purpose for the same period as of March
31, 2005 as if Polara Global Limited has been consolidated into the Group for
the sole purpose of comparative figures presentation only.

Liquidity and Capital Resources

        The Group has extended its source of finance from banks and financial
institutions in China through short-term bank loans and certain promissory
notes due to such financial institutions that are repayable within one year
Since January 2006, the Group has experienced growth in The Group has been
operating with stable business growth and an improved margin for certain new
products with U.S. and Austria customers.  The Group foresees that it would
have to expand its operating and research centre for new market opportunities
and the Group plans to raise not less than $5 Million in the capital market in
the near future to further accelerate the business expansion plan of the
Company.

The Management considers the liquidity and capital resource before any
commitment from any party for the planned fund raising in the near future
would accelerate the growth of the Company, but at present, the Management
considers the current gearing and financial leverage that has been employed to
finance the operation with net current asset and a below-one lower debt/asset
ratio is reasonable in line with the level of business activities of the
Company.


Results of Operations

        For the quarter ended September 30, 2005 and 2004, the Company showed
a slight increase in profit margin in line with the increased sales of the
Company. The Management consider the business operations in the quarter
follows the same line of business as in the same quarter in Year 2005.

The Company is now developing various new products and has exerted management
effort to strategically plan to explore new market with new product line for
next customers in Year 2007.


NEED FOR ADDITIONAL FINANCING

  The  Company will require additional capital in order to expand its
operations and/or complete acquisitions subsequent to the Share Exchange.  The
Share Exchange provided that certain shareholders of the Company place
2,379,184 shares of common stock held by them into escrow, pending completion
of a private placement of the Company's securities in which a minimum of
$5,000,000 in gross proceeds is raised.  In the event the Financing is not
completed, the 2,379,184 shares of common stock in escrow will be canceled.

     No commitments  to  provide  additional funds have been made by
management or other stockholders.  The Company anticipates that it will raise
funds through the private placement of  restricted  securities  rather than
through a public offering.  However, there is no firm commitment for any such
financing and no guarantee that the Company will be able to raise any
financing that it seeks.

Item 3. Controls and Procedures

     As of the end of the period covered by this report, the Company conducted
an evaluation, under the supervision and with the participation of the Chief
Executive Officer and Chief Financial Officer, of the Company's disclosure
controls  and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under
the Securities  Exchange Act of 1934 (the "Exchange Act"). Based on this
evaluation, the Chief Executive Officer and Chief Financial Officer concluded
that the Company's disclosure controls and procedures are effective to ensure
that information required to be disclosed by the Company in reports that it
files or submits under the Exchange Act is recorded, processed, summarized and
reported within the time periods specified in Securities and Exchange
Commission rules and forms. There was no change in the Company's internal
control over financial reporting during the Company's most recently completed
fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the Company's internal control over financial reporting.

                                       6

<PAGE>

PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS
None

ITEM 2.  CHANGES IN SECURITIES

The Company has increased its authorized capital from 25,000,000 shares of
common stock to 200,000,000 shares of common stock and it has further issued
to the shareholders of Polara Global Limited, a British Virgin Islands
international business company, an aggregate of 73,834,000 shares of the
Company's common stock, constituting ninety-five percent (95%) of the
COmpany's total issued and outstanding common stock as of the closing date of
July 31, 2006.


ITEM 3.  DEFAULTS UPON SENIOR SECURITIES
None

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None

ITEM 5.  OTHER INFORMATION
None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits

31.1 Certification by the Principal Executive Officer pursuant to Section 302
     of the Sarbanes-0xley Act of 2002

31.2 Certification by the Principal Financial Officer pursuant to Section 302
     of the Sarbanes-0xley Act of 2002

32.1 Certification by the Principal Executive Officer pursuant to 18 U.S.C.
     Section 1350, Section 906 of the Sarbanes-Oxley Act of 2002

32.2 Certification by the Principal Financial Officer pursuant to 18 U.S.C.
     Section 1350, Section 906 of the Sarbanes-Oxley Act of 2002

(b) Reports on Form 8-K:

None.




                                       7
<PAGE>





                                   SIGNATURES

     In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereto duly authorized.

Date: November  14, 2006

                                              NEW FIBER CLOTH TECHNOLOGY, INC.


                                              By:  /s/ YAO DE RONG
                                                  --------------------------
                                                   Yao De Rong
                                                   Chief Executive Officer


     In accordance with the Exchange Act, this report has been signed below by
the following persons on behalf of the registrant and in the capacities and on
the dates indicated.

Name                          Title                              Date
----                          -----                              ----


/s/ YAO DE RONG               Chief Executive Officer         August 14, 2006
-----------------------       Director
    Yao De Rong


/s/ PARKER SETO               Chief Financial Officer         August 14, 2006
----------------------
    Parker Seto



                                       8

<PAGE>