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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

FORM 10-KSB

(Mark One)

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30,
2008

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 For the transition period from [ ] to [ ]
Commission file number 333-139620

GOLDEN CENTURY TECHNOLOGIES
CORPORATION(Name of small business issuer in its charter)

|Delaware                                                             | 98-0466250                          
|-------------------------------------------------------------------- | ------------------------------------
|(State or other jurisdiction of incorporation or
      organization) | (I.R.S. Employer Identification No.)
|                                                                     |                                     
|                                                                     |                                     
|**Suite 400, 2711 Centerville Road**                                 |                                     
|**Wilmington, Delaware**                                             | **19808**                           
|(Address of principal executive offices)                             | (Zip Code)                          

(86) (139) 240-89271(Issuers telephone number)

1027 Pandora Avenue, Victoria, BC V8V 3P6 Canada(Former name, former address and former fiscal year, if changed since last
  report)

Securities registered pursuant to Section 12(b) of the Act:

|Title of each class | Name of each exchange on which registered
|------------------- | -----------------------------------------
|Nil                 | Nil                                      

Securities registered pursuant to Section 12(g) of the Act:

None(Title of class)

Check whether the issuer (1) 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
[X] No [ ]

Check if there is no disclosure of delinquent filers in response
to Item 405 of Regulation S-B is not contained in this form, and no disclosure
will be contained, to the best of registrants knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. [X]

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-2-

State issuers revenues for its most recent fiscal year.
$164,502

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

As of September 3, 2008, the aggregate market value of the
voting and non-voting common equity held by non-affiliates computed by reference
to the price at which the common equity was sold, was approximately
$2,138,430.

State the number of shares outstanding of each of the issuers
classes of equity stock, as of the latest practicable date: 14,193,000 common
shares issued and outstanding as at September 3, 2008.

DOCUMENTS INCORPORATED BY REFERENCE

If the following documents are incorporated by reference,
briefly describe them and identify the part of the Form 10-KSB (e.g., Part I,
Part II, etc.) into which the document is incorporated: (1) any annual report to
security holders; (2) any proxy or information statement; and (3) any prospectus
filed pursuant to Rule 424(b) or (c) of the Securities Act of 1933 (Securities
Act). The listed documents should be clearly described for identification
purposes (e.g., annual report to security holders for fiscal year ended December
24, 1990).

Transitional Small Business Disclosure Format (Check one): Yes [
] No[X]

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GOLDEN CENTURY TECHNOLOGIES CORPORATION ANNUAL REPORT ON
FORM 10-KSBTABLE OF CONTENTS

|PART I                                                        |                                                                                                                         | 2 
|------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------- | --
|ITEM 1.                                                       | DESCRIPTION OF BUSINESS                                                                                                 | 2 
|DESCRIPTION
      OF BUSINESS                                 | 2                                                                                                                      
|ITEM 2.                                                       | DESCRIPTION OF PROPERTY                                                                                                 | 11
|ITEM 3.                                                       | LEGAL PROCEEDINGS                                                                                                       | 11
|ITEM 4.                                                       | SUBMISSION OF MATTERS TO A VOTE
      OF SECURITY HOLDERS                                                               | 11
|PART II                                                       |                                                                                                                         | 11
|ITEM 5.                                                       | MARKET FOR COMMON EQUITY AND
      RELATED STOCKHOLDER TRANSACTIONS                                                     | 11
|ITEM 6.                                                       | PLAN OF OPERATION                                                                                                       | 13
|ITEM 7.                                                       | FINANCIAL STATEMENTS                                                                                                    | 15
|REPORT
      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | F-2                                                                                                                    
|ITEM 8.                                                       | CHANGES IN REGISTRANTS
      CERTIFYING ACCOUNTANT                                                                     | 16
|ITEM 8A.                                                      | CONTROLS AND
      PROCEDURES                                                                                           | 16
|PART III                                                      |                                                                                                                         | 17
|ITEM 9.                                                       | DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
        COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT | 17
|ITEM 10.                                                      | EXECUTIVE COMPENSATION                                                                                                  | 19
|ITEM 11.                                                      | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
      AND RELATED STOCKHOLDERS                           | 22
|ITEM 12.                                                      | CERTAIN RELATIONSHIPS AND RELATED
      TRANSACTIONS                                                                    | 22
|ITEM 13.                                                      | EXHIBITS                                                                                                                | 23
|ITEM 14.                                                      | PRINCIPAL ACCOUNTANT FEES AND
      SERVICES AUDIT FEES                                                                 | 24
|SIGNATURES                                                    | 26                                                                                                                     

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PART I

FORWARD-LOOKING STATEMENTS

This annual report contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These statements
relate to future events or our future financial performance. In some cases, you
can identify forward-looking statements by terminology such as may, should,
expects, plans, anticipates, believes, estimates, predicts,
potential or continue or the negative of these terms or other comparable
terminology. These statements are only predictions and may involve known and
unknown risks, uncertainties and other factors, including the risks in the
section entitled Risk Factors beginning on page 7, that may cause our or our
industrys actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements.

Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements. Except as required by
applicable law, including the securities laws of the United States, we do not
intend to update any of the forward-looking statements to conform these
statements to actual results.

Our financial statements are stated in United States Dollars
(US$) and are prepared in accordance with United States Generally Accepted
Accounting Principles.

In this annual report, unless otherwise specified, all dollar
amounts are expressed in United States dollars.

Unless otherwise indicated, all references to we, us and
our mean Golden Century Technologies Corporation.

ITEM 1. DESCRIPTION OF BUSINESS

Overview

We are a Delaware Corporation established in July 2005. We are
engaged in the production, distribution and sale of medical supplies in Mainland
China, Hong Kong, Macau, Taiwan and The Middle East. Our principal business is
to supply the Flushable Colostomy and Ostomy Pouch Liners (the Liners) to
Colo-Majic Liners, Inc. (the Colo-Majic) for its existing North American
market and to manufacture, market and distribute the Liners in the People of
Republic of China, Hong Kong, Macau, Taiwan and The Middle East.

On October 30, 2005, we entered into an Agreement of
Cooperation with Colo-Majic. Pursuant to the agreement, we will manufacture and
supply 3,000,000 or more liners every eighteen months. The agreement is for a
term of five years.

On September 28, 2006, we entered into a Licensing Agreement
with Colo-Majic. Pursuant to the agreement, Colo-Majic granted us a license to
manufacture, develop and distribute the Liner product in the mainland of the
Peoples Republic of China, excluding Hong Kong, Macau and Taiwan.

On January 15, 2007, we entered into a Licensing Agreement
Amendment with Colo-Majic adding additional Territories of Hong Kong, Taiwan,
Macau and The Middle East for the existing Licensing, Production and
Distribution Agreement dated September 28, 2006.

On January 16, 2007, we entered into a Distribution Agreement
with T-Ray Science, Inc. (the T-Ray), a Delaware corporation, regarding
granting non-exclusive distribution rights to T-Ray to promote, sell and
distribute the Flushable Colostomy and Ostomy Pouch Liners in the territories of
The Middle East including the United Arab Emirates, Israel, Saudi Arabia, Iran,
Egypt and Turkey.

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On January 16, 2008, we have terminated the Distribution
Agreement dated January 16, 2007 with T-Ray Science, Inc.

We are a development stage company. We have not at any time
been able to generate sufficient revenue from sales of our products or services
to sustain ongoing operations. From inception on July 1, 2005 to June 30, 2008,
we have generated total revenues of only $164,502 and as of June 30, 2008, we
have incurred an accumulated deficit of $186,397 since inception. We may
continue to incur significant additional operating losses as our product
marketing efforts continue.

Our capital requirements relating to the manufacturing and
marketing of our products have been, and will continue to be, significant. We
are dependent on the proceeds of future financing in order to continue in
business and to develop and commercialize proposed products. We anticipate
requiring approximately $250,000 to $500,000 in additional financing for the
next twelve months. There can be no assurance that we will be able to raise the
substantial additional capital resources necessary to permit us to pursue our
business plan. We have no current arrangements with respect to, or sources of,
additional financing and there can be no assurance that any such financing will
be available to us on commercially reasonable terms, or at all. Any inability to
obtain additional financing will have a material adverse effect on us, such as
requiring us to significantly curtail or cease operations. In that case,
investors may lose their entire investments.

Our strategic operating priorities for the balance of 2008
focus primarily on our goal of increasing revenues by December 31, 2008. We
intend to achieve this revenue growth on several fronts as follows:

We intend to promote the
Colo-Majic®Flushable Colostomy and Ostomy Pouch Liners throughout
Mainland of China, Hong Kong, Macau and Taiwan;

We intend to promote
Colo-Majic®Flushable Colostomy and Ostomy Pouch Liners to the Middle
East through T-Ray Science, Inc., with whom we have signed an agreement that
allows T-Ray to promote, sell and distribute the Liners in the Middle East. This
agreement is attached as an exhibit to this form.; and,

We intend to continue to expand our
revenue sources outside Colo-Majic. We intend to continue to pursue
opportunities with other health care products.

Product Overview

PRODUCT

Colo-Majic®Flushable Colostomy and Ostomy Pouch
Liner, it is designed to be used with the exiting pouch systems that are
regularly used for colostomy and ostomy patients worldwide. Currently, the
pouches are used, washed between uses and then thrown away. By using the Liners,
patients can remove and flush the liner and install a new liner into the pouch.
This increases the number of times the pouch can be used and reduces costs,
since the liners are much less expensive than the pouches.

The Liners are inexpensive, light to carry, easy to apply, safe
and clean.

The Liners are flushable. All pouches are disposable but not
flushable. The pouches are not flushable because they have to be made from
materials with a certain thickness to provide a strong hold capability. Also,
they have to have a mechanism for sticking to the skin. These design
requirements make them un-flushable. The Liners, however, are completely
flushable, which puts the waste in the septic/sewage treatment system, which is
healthier for both the patients and the public.

The curved-inward shape of the Liners on both sides cuts off
the excessive material that otherwise would affect the connection tightness when
applying on the inter-locking rims of the pouch components, as it is very
precise in engineering and requires a snug fit at all times. That is to say,
using a regular rectangular-shaped liner, for example, would require too much
material to fit in between the inter-locking rims. The curved sealing lines on
both sides,

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however, are designed to create two small areas where several
pin holes can be punched to let the gas, but not the contents, travel
through.

The Liners increase the number of times a pouch can be used and
fully takes advantages of the existing merits of the pouch system, for example,
the hold capability, comfort of wear and the seamless connection of the two
pieces The two pieces of the pouch system are known as the wafer and the pouch.

Competition

We face competition from several companies that manufacture and
market pouch products in China, including ConvaTec (a Bristol-Myers Squibb
Company), Cololplast China Company, Hollister Corporation and emerging companies
in China, such as the Si Tai Li Company. However, as far as we are aware, not a
single company is manufacturing a pouch liner product or a product similar to
the Liners. Compared to the pouches alone, we believe the Liner products have a
very competitive edge in costs for the consumers.

Customers

There are basically three groups of customers: hospitals and
clinics, pharmacies, and the colostomy and/or ostomy patients.

As part of the regular hospital and clinic routine practice,
hospitals, clinics and pharmacies maintain supplies of pouch systems for
colostomy and ostomy patients and the health conscious populations buy the Liner
products for at-home use on daily basis.

Intellectual Property

PATENTS

We have been granted a license by Mr. Douglas Wolrich, the
inventor of the Liners, to manufacture, distribute, market and sell the
Flushable Colostomy and Ostomy Pouch liner in China. The patent number in China
is ZL 95 1 93664.6 and it expires on April 21, 2015.

TRADE MARKS

Mr. Douglas Wolrich, the inventor, holds 100% interest in the
trademark of Colo-Majic® for the Flushable Colostomy and Ostomy Pouch
liner. We have the rights to use the trademark in connection with our exercise
of the rights under our agreement with Mr. Wolrich.

DOMAIN NAMES

We hold a 100% interest in the domain name of
www.gc-hightech.com

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LICENSING AGREEMENT

Pursuant to the agreement between the Company and Colo-Majic
dated September 28, 2006, Mr. Douglas Wolrich grants the Company the license and
the sole exclusive and assignable right to use or cause to be used the Liner
product in any manner and for any purpose to in any manner develop, maintain,
manufacture, transport, distribute, market, sell, lease and/or license or
sub-license the Liner product and to sell the same to the general public
throughout China. The Company acknowledged that the within grant of the License
is limited only to the purposes stated and does not constitute a grant of any
right of ownership of intellectual property of the Liner product. This license
expires on April 21, 2015. This license will continue until April 21, 2015 as
long as the terms and conditions of this Licensing Agreement are being met.

Research and Development

To date, we have not undertaken any research and development.

RISK FACTORS

An investment in our common stock involves a number of very
significant risks. You should carefully consider the following material risks
and uncertainties in addition to other information in this prospectus in
evaluating our company and its business before purchasing shares of our
companys common stock. Our business, operating results and financial condition
could be seriously harmed due to any of the following material risks. You could
lose all or part of your investment due to any of these material risks.

RISKS RELATED TO OUR COMPANY

We have a limited operating history and have only earned
nominal revenue since inception. We have no suitable business history to which
investors can refer in determining whether to invest in our company and we can
provide no assurances that we will ever earn sufficient revenue to earn a
profit. We may never have a profitable business and investors may lose all of
their investment in our company.

We have a very limited operating history and we face all of the
risks and uncertainties encountered by development stage companies. Therefore,
our prospects must be considered in light of the risks, expenses and
difficulties associated with any development stage company. Due to our limited
history, predictions of our future performance are very difficult. As of June
30, 2008, we have only generated revenues of $164,502, which was from our only
customer and represented 100% of our total revenue. As at June 30, 2008, we had
an accumulated deficit of $186,397 since inception. We anticipate continuing to
incur significant losses in the foreseeable future as our operating expenses
continue to increase. There can be no assurance that we will ever operate
profitably with our current products and strategy. We cannot assure you that we
will continue to generate revenues from our operations or ever achieve
profitability.We may never generate enough revenue to become profitable
and we may have to cease operations, in which case investors will likely lose
all of their investment in our company.

Our independent auditors have expressed substantial doubt
about our ability to continue as a going concern, which may hinder our ability
to obtain future financing. Furthermore, it indicates that we may go out of
business.

In their report dated September 24, 2008, our independent
auditors have expressed substantial doubt about our ability to continue as a
going concern. Our ability to continue as a going concern is an issue raised as
a result of recurring losses from operations. We continue to experience net
operating losses. Our ability to continue as a going concern is subject to our
ability to obtain necessary funding from outside sources, including obtaining
additional funding from the sale of our securities and to successfully carry out
our business plan. Our continued net operating losses increase the difficulty in
meeting such goals and there can be no assurances that our methods will prove
successful. Because of our continued operating losses and the substantial doubt
about our abilities to continue as a going concern, investors may not want to
invest in our company and we may be unable to obtain the financing we need to
continue. Also, these factors indicate that any investment into our company is
very risky and that we may go out of business.

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We have only one customer and generate no significant
revenues and have only limited marketing experience to develop
customers.

We have not entered into any agreements to sell our products to
any customers in China, as yet. We do not believe that we will generate
significant revenues in the immediate future. We will not generate any
meaningful revenues unless we obtain sales contracts with a significant number
of distributors or general hospitals/clinics or pharmacy chains. There can be no
assurance that we will ever be able to obtain contracts with a significant
number of customers to generate meaningful revenues or achieve profitable
operations.

We have only limited experience in developing and
commercializing the Liners, and there is limited information available
concerning the potential performance or market acceptance of the Liners in
China. There can be no assurance that unanticipated expenses or problems will
not occur which would result in material delays in commercialization of our
products or that our efforts will result in successful commercialization.

Our future is dependent upon our ability to obtain
financing. If we do not obtain such financing, we may have to cease our
operations and investors could lose their entire investment.

There is no assurance that we will operate profitably or will
generate positive cash flow in the future. We believe that we will require
additional financing in order to proceed beyond the first three months of our
business plan and to pay the fees and expenses necessary to operate as a public
company. Although we plan to obtain additional financing, we currently do not
have any arrangements for further financing. We may not be able to obtain
additional equity or debt financing on acceptable terms when we need it. Even if
financing is available, it may not be available on terms that are favorable to
us or in sufficient amounts to satisfy our requirements. Our future is dependent
upon our ability to obtain financing.

Our capital requirements relating to the manufacturing and
marketing of our products have been, and will continue to be, significant. We
are dependent on the proceeds of future financing in order to continue in
business and to develop and commercialize proposed products. We anticipate
requiring approximately $250,000 to $500,000 in additional financing for the
next twelve months. There can be no assurance that we will be able to raise the
substantial additional capital resources necessary to permit us to pursue our
business plan. We have no current arrangements with respect to, or sources of,
additional financing and there can be no assurance that any such financing will
be available to us on commercially reasonable terms, or at all. Any inability to
obtain additional financing will have a material adverse effect on us, such as
requiring us to significantly curtail or cease operations. In that case, you may
lose your entire investment.

The continued growth of our business will require additional
funding from time to time which would be used for general corporate purposes.
General corporate purposes may include acquisitions, investments, repayment of
debt, capital expenditures, repurchase of our capital stock and any other
purposes that we may specify in any prospectus supplement. Obtaining additional
funding would be subject to a number of factors including market conditions,
operational performance and investor sentiment. These factors may make the
timing, amount, terms and conditions of additional funding unattractive, or
unavailable, to us. If we do not obtain the financing we need, our business
could fail and investors could lose their entire investment.

The terms of any future financing may adversely affect
your interest as stockholder and dilute your interest in our company, which may
reduce the value of your investment.

We will require additional financing in the future. We may be
required to incur indebtedness or issue equity securities, the terms of which
may adversely affect your interests in the Company. For example, the issuance of
additional indebtedness may be senior in right of payment to your shares upon
our liquidation. In addition, indebtedness may be under terms that make the
operation of our business more difficult because the lenders consent will be
required before we take certain actions. Similarly the terms of certain
securities we issue may be senior in right of payment of dividends to your
common stock and may contain superior rights and other rights as compared to
your common stock. Further, any additional issuance of our securities may dilute
your interest in our company, which may reduce the value of your investment.

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We could lose our competitive advantages if we are not
able to protect any intellectual property rights against infringement, and any
related litigation could be time-consuming and costly.

Although the Liner product has been patented in the Peoples
Republic of China by the inventor and we have a license to that patent, we may
not be able to completely protect our proprietary rights against possible
infringement, which could cause us to lose our competitive advantage and
negatively impact our business and operations. Our efforts to protect our
intellectual property rights could be time-consuming and costly and we sill
might not be successful in protecting them. The potential expense and loss of
competitiveness related to our intellectual property could cause our business to
remain unprofitable and eventually cause us to go out of business.

We may face regulatory difficulties for our products,
which may cause us to slow down or cease our operations

The manufacturing and sale of the health care products of the
Liners in the Peoples Republic of China are subject to potential regulations of
the federal State Food and Drug Administration and local State Food and Drug
Administration offices within the provincial government. The bureaucracy and
corruption that are often seen in the bureaucratic procedures in China may have
adverse effects on our operation and financial conditions.

Although we have two independent consultants who are working on
these licenses and authorizations on behalf of our company, we have no assurance
that we will get theses licenses and authorizations successfully.

The uncertain nature of the business legal environment in the
Peoples Republic of China and our industry may prove to make our company
vulnerable to local government agencies who have persistent bureaucratic power

over manufacturers, distributors, retailers and other parties
who may wish to do business with us. If companies are prevented from doing
business with us in China, then we will go out of business and investors will
lose all of their investment in our company.

Our Bylaws contain limitations on the liability of our
directors and officers, which may discourage suits against directors and
executive officers for breaches of fiduciary duties

Our Bylaws contain provisions limiting the liability of our
directors for monetary damages to the fullest extent permissible under Delaware
law. This is intended to eliminate the personal liability of a director for
monetary damages on an action brought for breach of a directors duties to us or
to our stockholders except in certain limited circumstances. In addition, our
Bylaws contain provisions requiring us to indemnify our directors, officers,
employees and agents serving at our request, against expenses, judgments
(including derivative actions), fines and amounts paid in settlement. This
indemnification is limited to actions taken in good faith in the reasonable
belief that the conduct was lawful and in, or not opposed to our best interests.
Our Bylaws provide for the indemnification of directors and officers in
connection with civil, criminal, administrative or investigative proceedings
when acting in their capacities as agents for us. These provisions may reduce
the likelihood of derivative litigation against directors and executive officers
and may discourage investors or management from suing directors or executive
officers for breaches of their fiduciary duties, even though such an action, if
successful, might otherwise benefit our stockholders and directors and
officers.

If we are unable to hire and retain the qualified
personnel, our business will likely be adversely affected and we could be forced
to cease operations.

Our future success will also depend on our ability to attract,
retain and motivate highly qualified personnel, especially sales, marketing and
customer support employees, in the future. Because of the rapid growth of the
economy in China, competition for qualified personnel is intense. We cannot
assure you that we will be able to retain our personnel or that we will be able
to attract, assimilate or retain qualified personnel in the future. Our
inability to hire and retain qualified personnel could have material adverse
effects on our business, financial condition and results of operations. If these
effects are significant, they may cause us to go out of business.

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Because our sole director and officer controls a majority
of our common stock, investors will have little or no control over our
management or other matters requiring shareholder approval and their investments
may decline in value.

Our sole officer and director, in the aggregate, beneficially
own approximately 70.46% of issued and outstanding shares of our common stock.
As a result, she has the ability to control matters affecting minority
shareholders, including the election of our directors, the acquisition or
disposition of our assets, and the future issuance of our shares. Because our
officers, directors and principal shareholders control the company, investors
will not be able to replace our management if they disagree with the way our
business is being run. This control could result in management making decisions
that are in its best interest and not in the best interest of the investors and
investors could lose some or all of the value of their investment in our common
stock.

Because Hong Yang, our sole officer and director, lives
outside of the United States, you may have no effective recourse against her for
misconduct and may not be able to enforce judgment and civil liabilities against
her.

Hong Yang, our sole officer and director lives outside of the United States, and all or a substantial portion of her assets are located
outside of the United States. As a result, it may be difficult for investors to
enforce within the United States any judgments obtained against her, or obtain
judgments against her outside of the United States that are predicated upon the
civil liability provisions of the securities laws of the United States or any
state thereof.

RISKS RELATING TO OUR BUSINESS

Our success depends upon the development of Chinas
health care products industry and if that industry stagnates, we may go out of
business.

China is currently the worlds most populous country and one of
the largest producers and consumers of health care products. The health care
industry in China has been under tight state and provincial government controls
until recent years, when the government controls appear to have become less
cumbersome. However, the health care industry in China is stagnating, especially
where it concerns research, development and the production of supplies and
devices arguably due to immature regulatory policies, local protectionist
activities and a shortage of state and provincial funding. Despite the Chinese
governments continued emphasis on industry self-sufficiency, the industry
continues to be impeded by inadequate research and development facilities, a
lack of innovative product lines due to long history of practice of free-copying
of foreign intellectual properties and a lack of financial and political
incentives to attract talented persons into the industry. Since we will rely on
the local facilities and our subsidiary to manufacture and market the products,
and since our potential customer are mainly hospitals and clinics and pharmacies
chains, which are largely state owned, our ability to increase sales and
revenues may be delayed and hindered by any of these factors and we may go out
of business.

Our promotional and marketing efforts may not result in
generation of substantial revenue, which may cause our business to fail and
cause investors to lose their entire investment.

If our promotional and marketing efforts do not attract
customers, then we will not generate any revenue. We intend to target customers
that will need our services. If we do not attract customers through our
promotional and marketing efforts, then it is likely that our business will fail
and cause investors to lose their entire investment.

The Economic Policies of the Peoples Republic of Change
Could Affect our Business. If the economic policies of China hamper our ability
to carry on business and earn revenues, we may be forced to abandon our business
plan and may have to cease our operations.

Substantially all of our revenue will be derived from
operations in the Peoples Republic of China. Accordingly, our results of
operations and prospects are subject, to a significant extent, to the economic,
political and legal developments in the Peoples Republic of China. Our
operating results and financial condition may be adversely affected by the
government control over capital investments or changes in tax regulations.

The economy of the Peoples Republic of China has been changing
from a planned economy to a more market-oriented economy. In recent years, the
Chinese government has implemented measures emphasizing the utilization of
market forces for economic reform and the reduction of state ownership of
productive assets, and the establishment of corporate governance in business
enterprises; however, a substantial portion of productive assets in

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the Peoples Republic of China are still owned by the Chinese
government. In addition, the Chinese government continues to play a significant
role in regulating industry development by imposing industrial policies. It also
exercises significant control over the Peoples Republic of Chinas economic
growth through the allocation of resources, the control of payment of foreign
currency-denominated obligations, the setting of monetary policy and the
provision of preferential treatment to particular industries or companies.

Capital outflow policies in the Peoples Republic of China may
hamper our ability to expand our business and/or operations internationally. The
Peoples Republic of China has adopted currency and capital transfer
regulations. These regulations may require us to comply with complex regulations
for the movement of capital. Although our management believes that it is
currently in compliance with these regulations, should these regulations or the
interpretation of them by courts or regulatory agencies change, we may not be
able to remit income earned and proceeds received in connection with any
off-shore operations or from other financial or strategic transactions the
Company may consummate in the future.

Fluctuation of the Renminbi could materially affect our
financial condition and results of operations.

Fluctuation of the Renminbi Yuan, the currency of the Peoples
Republic of China, could materially affect our financial condition and results
of operations. The value of the Renminbi Yuan fluctuates and is subject to
changes in the Peoples Republic of Chinas political and economic conditions.
Since 1994, the conversion of the Renminbi Yuan into foreign currencies,
including United States dollars, is pegged against the inter-bank foreign
exchange market rates or current exchange rates of a basket of currencies on the
world financial markets. As of June 30, 2008, the exchange rate between the
Renminbi Yuan and the United States dollar was 6.854 Renminbi Yuan to every one
United States dollar.

We may face obstacles from the communist system and
Political, Judicial and/or Ministerial Corruption in the Peoples Republic of
China and may have to cease operations.

Foreign companies conducting operations in the Peoples
Republic of China face significant political, economic and legal risks. The
Communist regime in the Peoples Republic of China, including a cumbersome
bureaucracy, may hinder Western investment. We may have difficulty establishing
adequate management, legal and financial controls in the Peoples Republic of
China and may have to cease operations.

Another obstacle to foreign investment in the Peoples Republic
of China is corruption. We may face judicial and ministerial corruption in the
Peoples Republic of China. There is no assurance that we will be able to obtain
recourse, if desired, through the Peoples Republic of Chinas poorly developed
and sometimes corrupt judicial systems. In addition, many of the regulatory and
business authorities with whom we normally conduct our business, are state
employees or affiliated state-enterprise employees. These officials may engage
in corrupt activities which may negatively impact our ability to conduct
business.

We may have difficulty establishing adequate management,
legal and financial controls in The Peoples Republic of China.This
may cause our business operations to suffer and investors could lose their
investments in our company.

The Peoples Republic of China, officially and generally, has
not adopted a Western style of management and financial reporting concepts and
practices, or modern banking, computer and other control systems. We may have
difficulty in hiring and retaining a sufficient number of qualified employees to
work in the Peoples Republic of China. As a result of these factors, we may
experience difficulty in establishing management, legal and financial controls,
collecting financial data and preparing financial statements, books of account
and corporate records and instituting business practices that meet Western
standards. This may cause our business operations to suffer and investors could
lose their investments in our company.

The Company may not be able to obtain regulatory
approvals for its products, which would cause us to cease
operations.

The federal Food and Drug Administration and local Food and
Drug Administration offices within the provincial and municipal governments
regulate the manufacture and sale of health care products in the Peoples
Republic of China. Although the Company is not currently subject to direct
federal, state, or local regulation in the People of

9

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Republic of China other than regulations applicable to
businesses generally, it may be regulated by the Federal Food and Drug
Administration and local Food and Drug Administration offices at the provincial
government after our products becoming popular in China. At that time, our
operations will cease if we are not able to obtain regulatory approvals for our
products from the Federal Food and Drug Administration and each of the local
Food and Drug Administration offices.

RISKS ASSOCIATED WITH OUR COMMON STOCK

There is no active public market for our common stock and
if a market for our common stock does not develop, our investors will be unable
to sell their shares.

There is currently no active public market for our common stock
and such a market may not develop or be sustained. Our common stock is quoted on
the National Association of Securities Dealers Inc.s OTC Bulletin Board;
however, we cannot provide our investors with any assurance that that a public
market will materialize for our common stock. Further, the OTC Bulletin Board is
not a listing service or exchange, but is instead a dealer quotation service for
subscribing members. If a public market for our common stock does not develop,
then investors may not be able to resell the shares of our common stock that
they have purchased and may lose all of their investment. If a trading market
for our common stock is established, then the market price of our common stock
may be significantly affected by factors such as actual or anticipated
fluctuations in our operation results, general market conditions and other
factors. In addition, the stock market has from time to time experienced
significant price and volume fluctuations that have particularly affected the
market prices for the shares of developmental stage companies. As we are a
development stage company such fluctuations may negatively affect the market
price of our common stock.

Our stock is a penny stock. Trading of our stock may be
restricted by the SECs penny stock regulations and the NASDs sales practice
requirements, which may limit a stockholders ability to buy and sell our
stock.

Our stock is a penny stock. The Securities and Exchange
Commission has adopted Rule 15g-9 which generally defines penny stock to be
any equity security that has a market price (as defined) less than $5.00 per
share or an exercise price of less than $5.00 per share, subject to certain
exceptions. Our securities are covered by the penny stock rules, which impose
additional sales practice requirements on broker-dealers who sell to persons
other than established customers and accredited investors. The term
accredited investor refers generally to institutions with assets in excess of
$5,000,000 or individuals with a net worth in excess of $1,000,000 or annual
income exceeding $200,000 or $300,000 jointly with their spouse. The penny stock
rules require a broker-dealer, prior to a transaction in a penny stock not
otherwise exempt from the rules, to deliver a standardized risk disclosure
document in a form prepared by the SEC which provides information about penny
stocks and the nature and level of risks in the penny stock market. The
broker-dealer also must provide the customer with current bid and offer
quotations for the penny stock, the compensation of the broker-dealer and its
salesperson in the transaction and monthly account statements showing the market
value of each penny stock held in the customers account. The bid and offer
quotations, and the broker-dealer and salesperson compensation information, must
be given to the customer orally or in writing prior to effecting the transaction
and must be given to the customer in writing before or with the customers
confirmation. In addition, the penny stock rules require that prior to a
transaction in a penny stock not otherwise exempt from these rules, the
broker-dealer must make a special written determination that the penny stock is
a suitable investment for the purchaser and receive the purchasers written
agreement to the transaction. These disclosure requirements may have the effect
of reducing the level of trading activity in the secondary market for the stock
that is subject to these penny stock rules. Consequently, these penny stock
rules may affect the ability of broker-dealers to trade our securities. We
believe that the penny stock rules discourage investor interest in and limit the
marketability of our common stock.

In addition to the penny stock rules promulgated by the
Securities and Exchange Commission, the NASD has adopted rules that require that
in recommending an investment to a customer, a broker-dealer must have
reasonable grounds for believing that the investment is suitable for that
customer. Prior to recommending speculative low priced securities to their
non-institutional customers, broker-dealers must make reasonable efforts to
obtain information about the customers financial status, tax status, investment
objectives and other information. Under interpretations of these rules, the NASD
believes that there is a high probability that speculative low priced securities
will not be suitable for at least some customers. The NASD requirements make it
more difficult for broker-dealers to recommend that their customers buy our
common stock, which may limit your ability to buy and sell our stock.

10

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Please read this prospectus carefully. You should rely only on
the information contained in this prospectus. We have not authorized anyone to
provide you with different information. You should not assume that the
information provided by the prospectus is accurate as of any date other than the
date on the front of this prospectus.

Quantitative and Qualitative Disclosures about Market
Risk

As at June 30, 2008, we have not entered into or acquired
financial instruments that have a material market risk. We have no financial
instruments for trading or other purposes or derivative or other financial
instruments with off balance sheet risk. All financial assets and liabilities
are due within the next twelve months and are classified as current assets or
liabilities in the balance sheets provided with this report. The fair value of
all financial instruments at June 30, 2008 approximate their carrying
values.

Employees

As of June 30, 2008, we have a full time employee, our
principal, Ms. Hong Yang. Ms. Yang handles all of the responsibilities in the
area of corporate administration and business development.

Since August 1, 2005, we have also engaged two independent
consultants in the areas of assisting the Company for overseas production and
marketing management, business development in China.

Item 2. Description of Property

Our executive and head office is located at Suite 400, 2711
  Centerville Road, Wilmington, Delaware. No debt has accrued on account of rent
  payments owed. We feel that this space is adequate for our needs at this time,
  and we feel that we will be able to locate adequate space in the future, if
  needed, on commercially reasonable terms.

Item 3. Legal Proceedings

We know of no material, active or pending legal proceedings
against us, nor are we involved as a plaintiff in any material proceedings or
pending litigation.

Item 4. Submission of Matters to a Vote of Security
Holders

There were no matters submitted to a vote of our security
holders either through solicitation of proxies or otherwise in the forth quarter
of the fiscal year ended June 30, 2008.

PART II

Item 5. Market for Common Equity and Related Stockholder
Transactions

Our common stock is quoted on the OTC Bulletin Board under the
symbol GCYT. At the close of business on September 3, 2008, there were
14,193,000 shares of our common stock issued and outstanding. These shares were
held by approximately thirty-six (36) shareholders of record. Hong Yang, our
sole officer and director, held 10,000,000 shares (or 70.46%) of the outstanding
common stock.

(a) The Company's common stock is listed on the OTCBB under the
symbol "GCYT" Prices reported represent prices between dealers, do not include
markups, markdowns or commissions and do not necessarily represent actual
transactions. The market for the Company's shares has been sporadic and at times
very limited.

The following table sets forth high and low bid quotations of
the Company's common stock for the fiscal years ended June 30, 2008 and 2007 as
follows:

11

---

Price Range of Common StockQuarter Ended
    High
    LowDecember 31, 2007
    0.51
    0.51March 31, 2008
    0.51
    0.51June 30, 2008
    0.51
    0.51


(b) As of September 3, 2008, the Company had approximately
14,193,000 shares issued and outstanding.

(b) No dividends on outstanding common stock have been paid
within the last two fiscal years, and interim periods. The Company does not
anticipate or intendupon paying dividends for the foreseeable future.

(c) We do not have any common stock subject to outstanding
options or warrants and there are no securities outstanding that are convertible
into our common stock.

Securities Authorized For Issuance Under Equity
Compensation Plans

As of the date of this annual report on Form 10-KSB, we have
not adopted a stock option plan. The following table sets forth certain
information concerning all equity compensation plans previously approved by
stockholders and all previous equity compensation plans not previously approved
by stockholders, as of the most recently completed fiscal year.

EQUITY COMPENSATION PLANSPlan Category
      Number of securities to be
      issued upon exercise of outstanding options,
      warrants and rights (a)
      Weighted-average exercise price
      of outstanding options, warrants and rights
      (b)
      Number of securities remaining available for issuance under equity compensation
      plans (excluding securities reflected in column
      (a)) (c)Equity Compensation Plans approved by security
      holders
    Nil
    Nil
    NilEquity Compensation Plans not approved by security
      holders
    Nil
    Nil
    NilTotal
    Nil
    Nil
    Nil


There are no outstanding options or warrants to purchase, or
securities convertible into, any of our common stock.

Currently there is no established public trading market for our
common stock. We do not have any common stock subject to outstanding options or
warrants to purchase and there are no securities outstanding that are
convertible into our common stock.

Dividends

We have not paid any cash dividends on our common stock since
the inception of our company on July 1, 2005 and we do not anticipate paying any
cash dividends to our shareholders in the foreseeable future. Our current policy
is to retain earnings, if any, to fund the development and growth of our
business. Any future determination to pay cash dividends will be at the
discretion of the board of directors and will be dependent upon our financial
condition, operating results, capital requirements, applicable contractual
restrictions and any other factors that our board of directors deems
relevant.

12

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Recent Sales of Unregistered Securities

On August 1, 2007, we issued 600,000 shares of common stock
with a fair value of $30,000 for consulting services.

Item 6. Management's Discussion and Analysis or Plan of
Operation

Overview

The following discussion should be read in conjunction with our
audited financial statements and the related notes that appear elsewhere in this
registration statement. The following discussion contains forward-looking
statements that reflect our plans, estimates and beliefs. Our actual results
could differ materially from those discussed in the forward looking statements.
Factors that could cause or contribute to such differences include, but are not
limited to, those discussed below and elsewhere in this registration statement,
particularly in the section entitled Risk Factors beginning on page 7 of this
registration statement.

Our audited financial statements are stated in United States
Dollars and are prepared in accordance with United States Generally Accepted
Accounting Principles.

From the date of our incorporation on July 1, 2005 to June 30,
2008, we have been a development stage company that has only generated revenues
of $164,502, which was from our only customer and represented 100% of our total
revenue.

Our operating expenses are classified primarily into three
categories:

1. consulting fees, which consists primarily of consulting fees
for the year. The amount incurred by us during the year ended June 30, 2008 was
$63,000 compared to $77,590 for the year ended June 30, 2007. The decrease in
consulting fees resulted primarily from our decrease in operational activities
necessitating a decrease in consulting services for the company;

2. general and administrative expenses, which consist primarily
of legal, accounting and audit fees as well as the expenses incurred for rent
and other administrative expenses. The amount incurred by us during the year
ended June 30, 2008 was $40,573 compared to $36,710 for the year ended June 30,
2007. The increase was primarily due to the increase in legal and audit fees as
a result of our registering our shares with the SEC and becoming a public
company; and,

3. travel, which cost us $5,399 during the year ended June 30,
2008, compared to $3,491 for the year ended June 30, 2007. The increase is the
result of our consultants being required to travel in order to market our
product.

Our common stock is quoted on the National Association of
Securities Dealers Inc.s OTC Bulletin Board under the trading symbol GCYT. As
of September 3, 2008, our common stock was traded at $0.51 per share in the
public market.

We will require further financing to fund the expansion of our
business and by being a public company we will be a more attractive investment
for a wider range of potential investors. On a going-forward basis, we
anticipate that our annual legal and accounting/audit expenses as a result of
going public will be approximately $30,000 annually, which will primarily
consist of the costs associated with our continuous disclosure and financial
reporting obligations.

Results of Operations -Year ended June 30,
2008

As of June 30, 2008, we are a development stage company that
from inception to June 30, 2008 and has only generated revenues of $164,502,
which was from our only customer and represented 100% of our total revenue.

13

---

We incurred a net loss of $44,659 for the year ended June 30,
2008, compared to a net loss of $112,494 for the year ended June 30, 2007. The
decrease in the loss was primarily a result of our generated revenues of $91,159
during the period.

Liquidity and Capital Resources

At June 30, 2008, our company had current assets of $6,296,
including $4,799 in cash, compared to current assets of $23,452, including
$13,738 in cash, for the year ended June 30, 2007.

As of June 30, 2008, we had working capital deficit of $66,747
compared to working capital deficit of $52,088 as of June 30, 2007. The $14,659
decrease in the deficit was primarily due to decreases in our accounts payable,
accrued liabilities and generated revenue.

We generated revenues of $91,159 in the year ended June 30,
2008 and we did not generate any revenue in the year ended June 30, 2007. We
have generated revenues of $164,502 since inception to June 30, 2008. We have
incurred a net loss of $186,397 from inception (July 1, 2005) to June 30, 2008.

As at June 30, 2008, our total current liabilities decreased to
$73,043from $75,540 at June 30, 2007, primarily reflecting decreases in our
accounts payable, accrued liabilities and generated revenue.

Plan of Operation

Capital Resource Requirements

We do not expect to make any significant changes in our number
of employees over the next twelve months.

We do not expect any significant sale or purchase of plant or
equipment over the next twelve months.

We expect to spend approximately $20,000 to $50,000 on research
or development over the next twelve months to improve our current product, the
Liners, and possibly to find or develop new products that our company might
offer.

We expect to be able to satisfy our minimum cash requirements
for the next four months. However, our capital requirements relating to the
manufacturing and marketing of our products will continue to be significant. We
are dependent on the proceeds of future financing in order to continue in
business and to develop and commercialize proposed products. We anticipate that
we will require approximately $250,000 to $500,000 in additional financing for
the next twelve months to be used as follows:

Operating expendituresMarketing
    $
    100,000
    
    -
    $
    200,000General and Administrative
    $
    80,000
    
    -
    $
    100,000Research and
      Development
    $
    20,000
    
    -
    $
    50,000Working capital
    $
    50,000
    
    -
    $
    150,000Total
    $
    245,000
    
    -
    $
    500,000


There can be no assurance that we will be able to raise the
substantial additional capital resources necessary to permit us to pursue our
business plan. We have no current arrangements with respect to, or sources of,
additional financing and there can be no assurance that any such financing will
be available to us on commercially reasonable terms, or at all. Any inability to
obtain additional financing will have a material adverse effect on us, such as
requiring us to significantly curtail or cease operations.

14

---

To raise the additional funds that we will required, we intend
to sell additional shares of our common stock or through borrowing the money.
There can be no assurance that we will be able to raise the funds necessary to
permit us to pursue our business plan. We have no current arrangements with
respect to, or sources of, additional financing and there can be no assurance
that any such financing will be available to us on commercially reasonable
terms, or at all. If we are unable to obtain additional financing, we may be
required to significantly curtail or cease our operations.

Going Concern

Due to the uncertainty of our ability to meet our current
operating and capital expenses, the audit report prepared by our independent
registered public accounting firm relating to our consolidated financial
statements for the year ended includes an explanatory paragraph expressing the
substantial doubt about our ability to continue as a going concern.

Off-Balance Sheet Arrangements

Our company has no outstanding derivative financial
instruments, off-balance sheet guarantees, interest rate swap transactions or
foreign currency contracts. We do not engages in trading activities involving
non-exchange traded contracts.

We believe that our limited history of revenue generation make
the prediction of future results of operations difficult, and, accordingly, our
operating results should not be relied upon as an indication of future
performance.

Item 7. Financial Statements

Our financial statements are stated in United States dollars
(US$) and are prepared in accordance with United States Generally Accepted
Accounting Principles.

The following consolidated financial statements are filed as
part of this annual report:

15

---

|Golden Century Technologies Corporation
|---------------------------------------
|(A Development Stage Company)          
|                                       
|June 30, 2008                          

|                                                        | Index
|------------------------------------------------------- | -----
|                                                        |      
|Report of Independent Registered Public Accounting Firm | F1  
|Balance Sheets                                          | F2  
|Statements of Operations                                | F3  
|Statements of Cash Flows                                | F4  
|Statements of Stockholders Deficit                     | F5  
|Notes to the Financial Statements                       | F6  

---



Report of Independent Registered Public Accounting Firm

To the Directors and Stockholders 
  Golden Century Technologies Corporation 
  (A Development Stage Company)

We have audited the accompanying balance sheets of Golden Century
  Technologies Corporation (A Development Stage Company) as of June 30, 2008 and
  2007, and the related statements of operations, cash flows and stockholders'
  deficit for the years then ended and accumulated for the period from July 1,
  2005 (Date of Inception) to June 30, 2007. These financial statements are the
  responsibility of the Company's management. Our responsibility is to express
  an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the
  Public Company Accounting Oversight Board (United States). Those standards require
  that we plan and perform the audits to obtain reasonable assurance about whether
  the financial statements are free of material misstatement. An audit includes
  examining, on a test basis, evidence supporting the amounts and disclosures
  in the financial statements. The Company is not required to have, nor were we
  engaged to perform, an audit of its internal control over financial reporting.
  An audit includes consideration of internal control over financial reporting
  as a basis for designing audit procedures that are appropriate in the circumstances,
  but not for the purpose of expressing an opinion on the effectiveness of internal
  control over financial reporting. Accordingly, we express no such opinion. An
  audit also includes assessing the accounting principles used and significant
  estimates made by management, as well as evaluating the overall financial statement
  presentation. We believe that our audits provide a reasonable basis for our
  opinion.

In our opinion, the financial statements referred to above present
  fairly, in all material respects, the financial position of Golden Century Technologies
  Corp. (A Development Stage Company) as of June 30, 2008 and 2007, and the results
  of its operations and its cash flows for the years then ended and accumulated
  for the period from July 1, 2005 (Date of Inception) to June 30, 2008 in conformity
  with accounting principles generally accepted in the United States.

The accompanying financial statements have been prepared assuming
  the Company will continue as a going concern. As discussed in Note 1 to the
  financial statements, the Company has a working capital deficiency and has incurred
  operating losses since inception. These factors raise substantial doubt about
  the Companys ability to continue as a going concern. Managements
  plans in regard to these matters are also discussed in Note 1. The financial
  statements do not include any adjustments that might result from the outcome
  of this uncertainty.

/s/ MANNING ELLIOTT LLP

CHARTERED ACCOUNTANTS

Vancouver, Canada

September 24, 2008

F-1

---

|Golden Century Technologies Corporation
|---------------------------------------
|(A Development Stage Company)          
|Balance Sheets                         
|(Expressed in U.S. dollars)            

|                                                                    |  | June 30, |   |  | June 30, |  
|------------------------------------------------------------------- |  | -------- | - |  | -------- | -
|                                                                    |  | 2008     |   |  | 2007     |  
|                                                                    |  | $        |   |  | $        |  
|ASSETS                                                              |  |          |   |  |          |  
|Current Assets                                                      |  |          |   |  |          |  
|Cash                                                                |  | 4,799    |   |  | 13,738   |  
|Other receivable                                                    |  | 1,497    |   |  |         |  
|Prepaid expenses                                                    |  |         |   |  | 9,714    |  
|Total Assets                                                        |  | 6,296    |   |  | 23,452   |  
|                                                                    |  |          |   |  |          |  
|LIABILITIES AND STOCKHOLDERS DEFICIT                               |  |          |   |  |          |  
|Current Liabilities                                                 |  |          |   |  |          |  
|Accounts payable (Note 4(a))                                        |  | 12,758   |   |  | 8,409    |  
|Deferred revenue                                                    |  |         |   |  | 28,212   |  
|Due to
      a related party (Note 3)                               |  | 60,285   |   |  | 38,919   |  
|Total Liabilities                                                   |  | 73,043   |   |  | 75,540   |  
|Contingencies and Commitments (Notes 1 and 4)                       |  |          |   |  |          |  
|Stockholders Deficit                                               |  |          |   |  |          |  
|Preferred Stock                                                     |  |          |   |  |          |  
|Authorized: 20,000,000 shares,
      par value $0.0001              |  |          |   |  |          |  
|Issued: no shares                                                   |  |         |   |  |         |  
|Common Stock                                                        |  |          |   |  |          |  
|Authorized: 250,000,000 shares, par value $0.0001                   |  |          |   |  |          |  
|Issued: 14,193,000 shares (June
      30, 2007 - 13,593,000 shares) |  | 1,419    |   |  | 1,359    |  
|Additional Paid-in Capital                                          |  | 118,231  |   |  | 88,291   |  
|Deficit Accumulated During the Development Stage                    |  | (186,397 | ) |  | (141,738 | )
|Total Stockholders
      Deficit                                   |  | (66,747  | ) |  | (52,088  | )
|Total Liabilities and Stockholders Deficit                         |  | 6,296    |   |  | 23,452   |  

(The accompanying notes are an integral part of these financial
  statements)

F-2

---

|Golden Century Technologies Corporation
|---------------------------------------
|(A Development Stage Company)          
|Statements of Operations               
|(Expressed in U.S. dollars)            

|                                             |  | Accumulated from   |   |  |            |   |  |            |  
|-------------------------------------------- |  | ------------------ | - |  | ---------- | - |  | ---------- | -
|                                             |  | July 1, 2005 (Date |   |  | For the    |   |  | For the    |  
|                                             |  | of Inception) to   |   |  | Year Ended |   |  | Year Ended |  
|                                             |  | June 30,           |   |  | June 30,   |   |  | June 30,   |  
|                                             |  | 2008               |   |  | 2008       |   |  | 2007       |  
|                                             |  | $                  |   |  | $          |   |  | $          |  
|Revenue                                      |  |                    |   |  |            |   |  |            |  
|Sales                                        |  | 164,502            |   |  | 91,159     |   |  |           |  
|Cost
      of sales                          |  | (48,798            | ) |  | (27,281    | ) |  |           |  
|Gross Profit                                 |  | 115,704            |   |  | 63,878     |   |  |           |  
|                                             |  |                    |   |  |            |   |  |            |  
|Operating Expenses                           |  |                    |   |  |            |   |  |            |  
|Consulting                                   |  | 201,459            |   |  | 63,000     |   |  | 77,590     |  
|General and administrative expenses          |  | 83,953             |   |  | 40,573     |   |  | 36,710     |  
|Travel                                       |  | 22,421             |   |  | 5,399      |   |  | 3,491      |  
|Total Operating Expenses                     |  | 307,833            |   |  | 108,972    |   |  | 117,791    |  
|Loss from Operations                         |  | (192,129           | ) |  | (45,094    | ) |  | (117,791   | )
|Other Income                                 |  | 5,732              |   |  | 435        |   |  | 5,297      |  
|Net Loss                                     |  | (186,397           | ) |  | (44,659    | ) |  | (112,494   | )
|                                             |  |                    |   |  |            |   |  |            |  
|Net Loss Per Share
       Basic and Diluted |  |                    |   |  |           |   |  | (0.01      | )
|                                             |  |                    |   |  |            |   |  |            |  
|Weighted Average Shares
      Outstanding    |  |                    |   |  | 14,141,000 |   |  | 13,474,000 |  

(The accompanying notes are an integral part of these financial
  statements)

F-3

---

|Golden Century Technologies Corporation
|---------------------------------------
|(A Development Stage Company)          
|Statements of Cash Flows               
|(Expressed in U.S. dollars)            

|                                                            |  | Accumulated from   |   |  |            |   |  |            |  
|----------------------------------------------------------- |  | ------------------ | - |  | ---------- | - |  | ---------- | -
|                                                            |  | July 1, 2005 (Date |   |  | For the    |   |  | For the    |  
|                                                            |  | Of Inception) to   |   |  | Year Ended |   |  | Year Ended |  
|                                                            |  | June 30            |   |  | June 30,   |   |  | June 30,   |  
|                                                            |  | 2008               |   |  | 2008       |   |  | 2007       |  
|                                                            |  | $                  |   |  | $          |   |  | $          |  
|Operating Activities                                        |  |                    |   |  |            |   |  |            |  
|Net loss for the period                                     |  | (186,397           | ) |  | (44,659    | ) |  | (112,494   | )
|Adjustments to reconcile net loss to net cash
      used in |  |                    |   |  |            |   |  |            |  
|operating activities:                                       |  |                    |   |  |            |   |  |            |  
|Stock-based compensation                                    |  | 47,750             |   |  | 2,500      |   |  | 35,250     |  
|Changes in operating assets and
      liabilities           |  |                    |   |  |            |   |  |            |  
|Other receivable                                            |  | (1,497             | ) |  | (1,497     | ) |  |           |  
|Prepaid expenses                                            |  | 2,750              |   |  | 9,714      |   |  | (2,475     | )
|Accounts payable                                            |  | 40,258             |   |  | 4,349      |   |  | 32,674     |  
|Deferred revenue                                            |  |                   |   |  | (28,212    | ) |  | 28,212     |  
|Due to a related party                                      |  | 60,285             |   |  | 48,866     |   |  | 6,331      |  
|Net Cash Used by Operating Activities                       |  | (36,851            | ) |  | (8,939     | ) |  | (12,502    | )
|Financing Activities                                        |  |                    |   |  |            |   |  |            |  
|Proceeds from sale of common stock                          |  | 41,650             |   |  |           |   |  | 25,000     |  
|Net Cash Provided
      by Financing Activities             |  | 41,650             |   |  |           |   |  | 25,000     |  
|(Decrease) Increase in Cash                                 |  | 4,799              |   |  | (8,939     | ) |  | 12,498     |  
|Cash  Beginning
      of the Period                        |  |                   |   |  | 13,738     |   |  | 1,240      |  
|Cash  End of the Period                                    |  | 4,799              |   |  | 4,799      |   |  | 13,738     |  
|Non-Cash Financing and Investing Activities                 |  |                    |   |  |            |   |  |            |  
|Common Shares issued to settle debt                         |  | 27,500             |   |  | 27,500     |   |  |           |  
|Supplemental Disclosures                                    |  |                    |   |  |            |   |  |            |  
|Interest paid                                               |  |                   |   |  |           |   |  |           |  
|Income
      taxes paid                                     |  |                   |   |  |           |   |  |           |  

(The accompanying notes are an integral part of these financial
  statements)

F-4

---

|Golden Technologies Corporation                       
|------------------------------------------------------
|(A Development Stage Company)                         
|Statement of Stockholders Deficit                    
|From July 1, 2005 (Date of Inception) to June 30, 2008
|(Expressed in U.S. dollars)                           

|                              |  |            |  |  |        |  |  |            |  |  |               |   |  | Deficit     |   |  |          |  
|----------------------------- |  | ---------- |  |  | ------ |  |  | ---------- |  |  | ------------- | - |  | ----------- | - |  | -------- | -
|                              |  |            |  |  |        |  |  |            |  |  |               |   |  | Accumulated |   |  |          |  
|                              |  |            |  |  |        |  |  | Additional |  |  |               |   |  | During the  |   |  |          |  
|                              |  |            |  |  |        |  |  | Paid-in    |  |  | Subscriptions |   |  | Development |   |  |          |  
|                              |  | Shares     |  |  | Amount |  |  | Capital    |  |  | Receivable    |   |  | Stage       |   |  | Total    |  
|                              |  | #          |  |  | $      |  |  | $          |  |  | $             |   |  | $           |   |  | $        |  
|Balance  July 1, 2005        |  |            |  |  |        |  |  |            |  |  |               |   |  |             |   |  |          |  
|(Date
        of Inception)   |  |           |  |  |       |  |  |           |  |  |              |   |  |            |   |  |         |  
|Issuance of common shares     |  |            |  |  |        |  |  |            |  |  |               |   |  |             |   |  |          |  
|for services at $0.001/share  |  | 10,000,000 |  |  | 1,000  |  |  | 9,000      |  |  |              |   |  |            |   |  | 10,000   |  
|Issuance of common shares     |  |            |  |  |        |  |  |            |  |  |               |   |  |             |   |  |          |  
|for cash at $0.05/share       |  | 333,000    |  |  | 33     |  |  | 16,617     |  |  |              |   |  |            |   |  | 16,650   |  
|Common stock subscribed at    |  |            |  |  |        |  |  |            |  |  |               |   |  |             |   |  |          |  
|$.01 per share                |  | 2,500,000  |  |  | 250    |  |  | 24,750     |  |  | (25,000       | ) |  |            |   |  |         |  
|Net loss for the period       |  |           |  |  |       |  |  |           |  |  |              |   |  | (29,244     | ) |  | (29,244  | )
|Balance  June 30, 2006       |  | 12,833,000 |  |  | 1,283  |  |  | 50,367     |  |  | (25,000       | ) |  | (29,244     | ) |  | (2,594   | )
|Issuance of common shares     |  |            |  |  |        |  |  |            |  |  |               |   |  |             |   |  |          |  
|for services at $0.05/share   |  | 660,000    |  |  | 66     |  |  | 32,934     |  |  |              |   |  |            |   |  | 33,000   |  
|Subscriptions received        |  |           |  |  |       |  |  |           |  |  | 25,000        |   |  |            |   |  | 25,000   |  
|Issuance of common shares     |  |            |  |  |        |  |  |            |  |  |               |   |  |             |   |  |          |  
|for services at $0.05/share   |  | 100,000    |  |  | 10     |  |  | 4,990      |  |  |              |   |  |            |   |  | 5,000    |  
|Net loss for the year         |  |           |  |  |       |  |  |           |  |  |              |   |  | (112,494    | ) |  | (112,494 | )
|Balance  June 30, 2007       |  | 13,593,000 |  |  | 1,359  |  |  | 88,291     |  |  |              |   |  | (141,738    | ) |  | (52,088  | )
|Issuance of common shares     |  |            |  |  |        |  |  |            |  |  |               |   |  |             |   |  |          |  
|for services at $0.05/share   |  | 600,000    |  |  | 60     |  |  | 29,940     |  |  |              |   |  |            |   |  | 30,000   |  
|Net loss for the year         |  |           |  |  |       |  |  |           |  |  |              |   |  | (44,659     | ) |  | (44,659  | )
|Balance  June
      30, 2008 |  | 14,193,000 |  |  | 1,419  |  |  | 118,231    |  |  |              |   |  | (186,397    | ) |  | (66,747  | )

(The accompanying notes are an integral part of these financial
  statements)

F-5

---

|Golden Century Technologies Corporation
|---------------------------------------
|(A Development Stage Company)          
|Notes to the Financial Statements      
|June 30, 2008                          
|(Expressed in U.S. dollars)            

|1. | Nature of Operations and Continuance of Business                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | The Company was incorporated in the State
        of Delaware on July 1, 2005. The Company is a Development Stage Company,
        as defined by Statement of Financial Accounting Standard (SFAS)
        No.7 Accounting and Reporting for Development Stage Enterprises.
        The Company is based in Victoria, British Columbia, and its principal
        business is the production and distribution of Flushable Colostomy and
        Ostomy Pouch Liners (the Liners) for colostomy and ostomy
        patients. The Company has entered into two agreements with Colo-Majic
        Liners, Inc. (Colo-Majic), the inventor of the Liner product.
        The first agreement is to supply the Liner products to the North American
        market, and the second agreement is to manufacture, market and distribute
        the Liner product in the Peoples Republic of China.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | These financial statements have been prepared
        on a going concern basis, which implies the Company will continue to realize
        its assets and discharge its liabilities in the normal course of business.
        The Company planned principal activities have commenced, but the Company
        is still in the early stage of development. In a development stage company,
        management devotes most of its activities to developing a market for its
        products and services. The Company has generated minimal revenue and has
        not paid dividends, and is unlikely to pay dividends or generate significant
        earnings in the immediate or foreseeable future. The continuation of the
        Company as a going concern is dependent upon the continued financial support
        from its shareholders, the ability of the Company to obtain necessary
        equity financing to continue operations, and the attainment of profitable
        operations. As at June 30, 2008, the Company has working capital deficit
        of $66,747 and has accumulated losses of $186,397 since inception. Since
        inception, the Company has funded operations through the issuance of capital
        stock. Managements plan is to continue raising additional funds
        through future equity or debt financings until it achieves profitable
        operations from its production and sale activities. These factors raise
        substantial doubt regarding the Companys ability to continue as
        a going concern. These financial statements do not include any adjustments
        to the recoverability and classification of recorded asset amounts and
        classification of liabilities that might be necessary should the Company
        be unable to continue as a going concern.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | Management estimates that it will require
        additional financing of approximately $250,000 to $500,000 over the next
        twelve months for production of the Liner products, marketing campaigns
        and administrative costs.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|2. | Summary of Significant Accounting Principles                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

F6

---

|Golden Century Technologies Corporation
|---------------------------------------
|(A Development Stage Company)          
|Notes to the Financial Statements      
|June 30, 2008                          
|(Expressed in U.S. dollars)            

|2. | Summary of Significant Accounting Principles
        (continued)
|-- | ----------------------------------------------------------------
|   |                                                                 
|   | d)                                                              
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   | e)                                                              
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   | f)                                                              
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   | g)                                                              
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   | h)                                                              
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 

F7

---

|Golden Century Technologies Corporation
|---------------------------------------
|(A Development Stage Company)          
|Notes to the Financial Statements      
|June 30, 2008                          
|(Expressed in U.S. dollars)            

|2. | Summary of Significant Accounting Principles
        (continued)
|-- | ----------------------------------------------------------------
|   |                                                                 
|   | i)                                                              
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   | j)                                                              
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   | k)                                                              
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 

F8

---

|Golden Century Technologies Corporation
|---------------------------------------
|(A Development Stage Company)          
|Notes to the Financial Statements      
|June 30, 2008                          
|(Expressed in U.S. dollars)            

|2. | Summary of Significant Accounting Principles
        (continued)
|-- | ----------------------------------------------------------------
|   |                                                                 
|   | k)                                                              
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   | (l)                                                             
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 
|   |                                                                 

F9

---

|Golden Century Technologies Corporation
|---------------------------------------
|(A Development Stage Company)          
|Notes to the Financial Statements      
|June 30, 2008                          
|(Expressed in U.S. dollars)            

|2. | Summary of Significant Accounting Principles
        (continued)                                                                                                                                                                                   
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                    
|   | m)                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                    
|3. | Related Party Transactions                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                    
|   | a)                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                    
|   | b)                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                    
|4. | Commitments                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                                    
|   | a)                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                    
|   | b)                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                    
|   | c)                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                    
|   | d)                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                    
|   | e)                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                    
|5. | Common Stock                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                    
|   | On August 1, 2007, the Company issued 600,000
        shares of common stock with a fair value of $30,000 for consulting services
        to a relative of the President of the Company, of which $27,500 was incurred
        in the prior period.

F10

---

|Golden Century Technologies Corporation
|---------------------------------------
|(A Development Stage Company)          
|Notes to the Financial Statements      
|June 30, 2008                          
|(Expressed in U.S. dollars)            



|6. | Income Taxes                                                                                                                                                                                                           
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                        
|   | The Company has incurred total net operating losses
        of $182,400 since inception, which expire in 2027.                                                                                                         
|   |                                                                                                                                                                                                                        
|   | The income tax benefit differs from the amount computed
        by applying the federal income tax rate of 35% to net loss before income
        taxes for the period ended June 30, 2008 as a result of the following:

| |                                                         |  | 2008    |   |  | 2007    |  
| | ------------------------------------------------------- |  | ------- | - |  | ------- | -
| |                                                         |  | $       |   |  | $       |  
| | Income tax benefit computed at the statutory
      rate |  | 15,631  |   |  | 39,373  |  
| | Permanent differences                                   |  | (476    | ) |  | (243    | )
| | Change in valuation allowance                           |  | (15,155 | ) |  | (39,130 | )
| | Provision for income
      taxes                        |  |        |   |  |        |  

Significant components of the Companys
  deferred tax assets and liabilities as at June 30, 2008, after applying enacted
  corporate income tax rates, are as follows:

| |                                     |  | 2008    |   |  | 2007    |  
| | ----------------------------------- |  | ------- | - |  | ------- | -
| |                                     |  | $       |   |  | $       |  
| | Deferred income tax assets          |  |         |   |  |         |  
| | Net operating loss carried forward  |  | 63,840  |   |  | 48,685  |  
| | Valuation allowance                 |  | (63,840 | ) |  | (48,685 | )
| | Net deferred income
      tax asset |  |        |   |  |        |  

F11



---

- 16 -

Item 8. Changes in Registrants Certifying
Accountant

Manning Elliott LLP, Certified Public Accountants, has been
engaged as our principal independent accountants. There has been no change in
our certifying accountant for the past two most recent fiscal years or interim
period.

Item 8A. Controls and Procedures

**Management’s Annual   Report on Internal Control over Financial Reporting**

Our management is responsible for   establishing and maintaining adequate internal control over financial reporting.   Under the supervision of our Chief Executive Officer, the Company conducted an   evaluation of the effectiveness of our internal control over financial reporting   as of June 30, 2008 using the criteria established in Internal   Control—Integrated Framework issued by the Committee of Sponsoring Organizations   of the Treadway Commission (COSO).

A material weakness is a deficiency, or combination of deficiencies, in internal   control over financial reporting, such that there is a reasonable possibility   that a material misstatement of the Company’s annual or interim financial   statements will not be prevented or detected on a timely basis. In its   assessment of the effectiveness of internal control over financial reporting as   of June 30, 2008, the Company determined that there were control deficiencies   that constituted material weaknesses, as described below.

1. Due to the significant number and magnitude of   out-of-period adjustments identified during the year-end closing process,   management has concluded that the controls over the period-end financial   reporting process were not operating effectively. Specifically, controls were   not effective to ensure that significant non-routine transactions, accounting   estimates, and other adjustments were appropriately reviewed, analyzed, and   monitored on a timely basis. This was evidenced by a significant number of   out-of-period adjustments noted during the year-end closing process
2. Certain entity level controls establishing a “tone at the   top” were considered material weaknesses. The Company has no audit committee and   there is an inadequate amount of review by management of the financial statement   reporting process. There is no policy on fraud and no code of ethics at this   time, though the Company plans to implement such policies in fiscal 2009. A   whistleblower policy is not necessary given the small size of the   organization.

Management is currently evaluating   remediation plans for the above control deficiencies.

Accordingly, the Company concluded that   these control deficiencies resulted in a reasonable possibility that a material   misstatement of the annual or interim financial statements will not be prevented   or detected on a timely basis by the company’s internal controls.

As a result of the material weaknesses   described above, management has concluded that the Company did not maintain   effective internal control over financial reporting as of June 30, 2008 based on   criteria established in *Internal   Control—Integrated Framework*issued by COSO.

Manning Elliott LLP, an independent   registered public accounting firm, was not required to and has not issued a   report concerning the effectiveness of our internal control over financial   reporting as of June 30, 2008.

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are
designed to ensure that information required to be disclosed in our Exchange Act
reports is recorded, processed, summarized and reported within the time periods
specified in the Securities and Exchange Commissions rules and forms and that
such information is accumulated and communicated to our management, including
our Chief Executive Officer and Chief Financial Officer, as appropriate, to
allow for timely decisions regarding required disclosure. In designing and
evaluating the disclosure controls and procedures, management recognizes that
any controls and procedures, no matter how well designed and operated, can
provide only reasonable assurance of achieving the desired control objectives,
and management is required to apply its judgment in evaluating the cost-benefit
relationship of possible controls and procedures. Our disclosure controls and
procedures were designed to provide reasonable assurance that the controls and
procedures would meet their objectives.

As required by SEC Rule 13a-15(b), our management carried out
an evaluation, with the participation of our Chief Executive and Chief Financial
Officers, of the effectiveness of the design and operation of our disclosure
controls and procedures as of the end of the period covered by this report.
Based on the foregoing, our Chief Executive Officer and Chief Financial Officer
concluded that our disclosure controls and procedures were effective at the
reasonable assurance level.

Managements Annual Report on Internal Control over
Financial Reporting

Management is responsible for establishing and maintaining
adequate internal control over our financial reporting. In order to evaluate the
effectiveness of internal control over financial reporting, as required by
Section 404 of the Sarbanes-Oxley Act, management has conducted an assessment,
including testing, using the criteria in Internal Control  Integrated
Framework, issued by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO). Our system of internal control over financial reporting is
designed to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. Because of its
inherent limitations, internal control over financial reporting may not prevent
or detect misstatements.

---

- 17 -

Management has used the framework set forth in the report
entitled Internal Control-Integrated Framework published by the Committee of
Sponsoring Organizations of the Treadway Commission, known as COSO, to evaluate
the effectiveness of our internal control over financial reporting. Based on
this assessment, management has concluded that our internal control over
financial reporting was effective as of December 31, 2007.

This Annual Report does not include an attestation report of
our independent registered public accounting firm regarding internal control
over financial reporting. Our internal control over financial reporting was not
subject to attestation by our independent registered public accounting firm
pursuant to temporary rules of the SEC that permit us to provide only
managements report in this Annual Report.

There has been no change in our internal controls over
financial reporting during our most recent fiscal quarter that has materially
affected, or is reasonably likely to materially affect, our internal controls
over financial reporting.

PART III

Item 9. Directors, Executive Officers, Promoters and Control
Persons; Compliance With Section 16(a) of the Exchange Act

Directors, Executive Officers, Promoters and Control
Persons

Our directors hold office until the next annual meeting of the
stockholders or until her successor has been elected and qualified. The officers
of our company are appointed by our directors and hold office until their death,
resignation or removal from office. As of June 30, 2008, our sole director and
executive officer, her age, positions held, and date first elected or appointed
are as follows:

Name
    Position Held with the
      Company
    Age
    Date First Elected
      or AppointedHong Yang
    President, Treasurer, Secretary and Sole
      Director
    37
    July 2005


Business Experience

Hong Yang

Ms. Hong Yang has been the President, Treasurer, Secretary and
sole director of Golden Century Technologies Corporation since July 1, 2005
(inception of the Company) and is the original founder of the Company. She has
served as the executive assistant to the Deputy General Manager and also a
business manager in a multi-million dollar and multinational corporation named
GPX/GPC Footwear Factory, Ltd., a subsidiary of Derise Group, Inc. (Public
Company listed in Hong Kong Stock Exchange) for over five years. She has also
served as marketing manager in the Forest Flooring Factory, Ltd., a subsidiary
of Baoan Group, Inc. (Public Company listed in the Shenzhen Stock Exchange of
China, for about two years. She has had professional training in both project
management and production management from the Whitworth College in the United
States of America. For the last five years, her focus has been in the
professional training and business development in the health care industry in
China.

Involvement in Certain Legal Proceedings

Our sole director, executive officer and control person has not
been involved in any of the following events during the past five years:

1. any bankruptcy petition filed by or against any business of
which such person was a general partner or executive officer either at the time
of the bankruptcy or within two years prior to that time;

---

- 18 -

2. any conviction in a criminal proceeding or being subject to
a pending criminal proceeding (excluding traffic violations and other minor
offences);

3. being subject to any order, judgment, or decree, not
subsequently reversed, suspended or vacated, of any court of competent
jurisdiction, permanently or temporarily enjoining, barring, suspending or
otherwise limiting his involvement in any type of business, securities or
banking activities; or,

4. being found by a court of competent jurisdiction (in a civil
action), the Commission or the Commodity Futures Trading Commission to have
violated a federal or state securities or commodities law, and the judgment has
not been reversed, suspended, or vacated.

Section 16(a) Beneficial Ownership Compliance

Section 16(a) of the Securities Exchange Act requires our
executive officers and directors, and persons who own more than 10% of our
common stock, to file reports regarding ownership of, and transactions in, our
securities with the Securities and Exchange Commission and to provide us with
copies of those filings. Based solely on our review of the copies of such forms
received by us, or written representations from certain reporting persons, we
believe that during fiscal year ended June 30, 2008, all filing requirements
applicable to its officers, directors and greater than ten percent beneficial
owners were complied with.

Committees of the Board

All proceedings of the board of directors for the year ended
June 30, 2008 were conducted by resolutions consented to in writing by the sole
director and filed with the minutes of the proceedings of the director. We
currently does not have nominating, compensation or audit committees or
committees performing similar functions nor does our company have a written
nominating, compensation or audit committee charter. Our board of directors does
not believe that it is necessary to have such committees because it believes
that the functions of such committees can be adequately performed by the board
of directors.

We does not have any defined policy or procedure requirements
for shareholders to submit recommendations or nominations for directors. The
board of directors believes that, given the stage of our development, a specific
nominating policy would be premature and of little assistance until our business
operations develop to a more advanced level. Our company does not currently have
any specific or minimum criteria for the election of nominees to the board of
directors and we do not have any specific process or procedure for evaluating
such nominees. The board of directors will assess all candidates, whether
submitted by management or shareholders, and make recommendations for election
or appointment.

A shareholder who wishes to communicate with our board of
directors may do so by directing a written request addressed to our President,
Hong Yang, at the address appearing on the first page of this annual report.

Code of Ethics

We have not yet adopted a corporate code of ethics. Our board
of directors is considering, over the next year, establishing a code of ethics
to deter wrongdoing and promote honest and ethical conduct; provide full, fair,
accurate, timely and understandable disclosure in public reports; comply with
applicable laws; ensure prompt internal reporting of code violations; and
provide accountability for adherence to the code.

Audit Committee Financial Expert

Our board of directors has determined that we do not have a
board member that qualifies as an "audit committee financial expert", nor do we
have a board member that qualifies as "independent" as the term is used in Item
7(d)(3)(iv)(B) of Schedule 14A under the Securities Exchange Act of 1934, as
amended, and as defined by Rule 4200(a)(14) of the NASD Rules.

We believe that our board of directors is capable of analyzing
and evaluating our financial statements and

---

- 19 -

understanding internal controls and procedures for financial
reporting. The board of directors of our company does not believe that it is
necessary to have an audit committee because management believes that the
functions of an audit committees can be adequately performed by the board of
directors. In addition, we believe that retaining an independent director who
would qualify as an "audit committee financial expert" would be overly costly
and burdensome and is not warranted in our circumstances given the stage of our
development and the fact that we have not generated any positive cash flows from
operations to date.

Item 10. Executive Compensation

No executive officer of our company received an annual salary
and bonus during the period from inception on July 1, 2005 to June 30, 2008.

No executive officer of our company received an annual salary
and bonus that exceeded $60,000 during the fiscal years ended June 30, 2008.

The following table shows the particulars of compensation paid
to the following persons, where applicable, for the year ended June 30,
2008:

| | (a) | our principal executive officer;                                                                                                                                                                                                                 
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                  
| | (b) | each of our two most highly compensated executive
      officers who were serving as executive officers at the year ended June 30,
      2008; and,                                                                                              
| |     |                                                                                                                                                                                                                                                  
| | (c) | up to two additional individuals for whom disclosure
      would have been provided under (b) but for the fact that the individual
      was not serving as our executive officer at the end of the most recently
      completed financial year,

who we may collectively refer to as the named executive
officers:

SUMMARY COMPENSATION TABLEName and
      Principal Position
      Year
      Salary
      ($)
      Bonus
      ($)
      Options
      granted
      Option
      Awards ($)(5)
      Non-Equity
      Incentive Plan Compensa- tion
      ($)
      Change in Pension
      Value and Nonqualified Deferred
      Compensation Earnings ($)
      All Other
      Compensa- tion ($)
      Total
      ($)Hong Yang, President, Treasurer,
      Secretary and Sole Director
    2007
    Nil
    Nil
    Nil
    Nil
    Nil
    Nil
    Nil
    Nil


There are no written employment or consulting agreements
between our company and any of our directors and executive officers.

Pension, Retirement or Similar Benefit Plans

There are no arrangements or plans in which we provide pension,
retirement or similar benefits for directors or executive officers. Our
directors and executive officers may receive stock options at the discretion of
our board of directors in the future. We do not have any material bonus or
profit sharing plans pursuant to which cash or non-cash compensation is or may
be paid to our directors or executive officers, except that stock options may be
granted at the discretion of our board of directors from time to time. We have
no plans or arrangements in respect of remuneration

---

- 20 -

received or that may be received by our executive officers to
compensate such officers in the event of termination of employment (as a result
of resignation, retirement, change of control) or a change of responsibilities
following a change of control.

Stock Options and Stock Appreciation Rights

From the date of inception July 1, 2005, we did not grant any
stock options or stock appreciation rights to any of our directors or
officers.

Compensation Of Directors

We reimburse our directors for expenses incurred in connection
with attending board meetings.

On or about July 5, 2005, the Company approved the issuance of
10,000,000 shares of its common stock to Hong Yang for services rendered in the
amount of $10,000. The terms of this transaction were determined by the Board of
Directors.

We have no formal plan for compensating our directors for their
service in their capacity as directors, although such directors are expected in
the future to receive stock options to purchase common shares as awarded by our
board of directors or (as to future stock options) a compensation committee
which may be established. Directors are entitled to reimbursement for reasonable
travel and other out-of-pocket expenses incurred in connection with attendance
at meetings of our board of directors. Our board of directors may award special
remuneration to any director undertaking any special services on our behalf
other than services ordinarily required of a director. No director received
and/or accrued any compensation for their services as a director, including
committee participation and/or special assignments.

Stock Option Grants

We have not granted any stock options to the executive officers
or directors from inception through June 30, 2008.

Stock Option Plan

As of the date of this annual report on Form 10-KSB, we have
not adopted a stock option plan.

OUTSTANDING EQUITY AWARDS AT
        FISCAL YEAR-END**Option Awards**
      Stock AwardsName
      Number
      of Securities Underlying
      Unexercised Options (#)
      Exercisable
      Number
      of Securities Underlying
      Unexercised Options (#)
      Unexercisable
      Equity
      Incentive Plan Awards: Number
      of Securities Underlying
      Unexercised Unearned Options
      (#)
      Option
      Exercise Price ($)
      Option
      Expiration Date
      Number of
      Shares or Units of
      Stock That Have Not
      Vested (#)
      Market Value
      of Shares or Units
      of Stock That Have Not
      Vested ($)
      Equity Incentive
      Plan Awards: Number of
      Unearned Shares, Units or
      Other Rights That Have Not
      Vested (#)
      Equity Incentive
      Plan Awards: Market or Payout
      Value of Unearned Shares, Units
      or Other Rights That Have Not
      Vested ($)Hong Yang
    Nil
    Nil
    Nil
    --
    --
    Nil
    Nil
    Nil
    Nil


Employment Contracts, Termination of Employment and
Change In Control Arrangements

Other than as set out below, we have not entered into any
employment agreement or consulting agreement with our directors and executive
officers.

---

- 21 -

The sole director, Hong Yang provides management services and
office premises to our company. We have no written agreement with Ms. Yang for
the provision of services or her compensation and she is not compensated for her
services.

Since August 1, 2005, we have also engaged two independent
consultants in the areas of assisting the Company for overseas production and
marketing management, business development in China.

There are no arrangements or plans in which we provide pension,
retirement or similar benefits for directors or executive officers. Our
directors and executive officers may receive stock options at the discretion of
our board of directors in the future. We do not have any material bonus or
profit sharing plans pursuant to which cash or non-cash compensation is or may
be paid to our directors or executive officers, except that stock options may be
granted at the discretion of our board of directors.

We have no plans or arrangements in respect of remuneration
received or that may be received by our executive officers to compensate such
officers in the event of termination of employment (as a result of resignation,
retirement, change of control) or a change of responsibilities following a
change of control, where the value of such compensation exceeds $60,000 per
executive officer.

Directors Compensation

Directors may be paid their expenses for attending each meeting
of the directors and may be paid a fixed sum for attendance at each meeting of
the directors or a stated salary as director. No payment precludes any director
from serving our company in any other capacity and being compensated for such
service. Members of special or standing committees may be allowed like
reimbursement and compensation for attending committee meetings.

Other than as described in the paragraph above, we have no
present formal plan for compensating our directors for their service in their
capacity as directors. Directors are entitled to reimbursement for reasonable
travel and other out-of-pocket expenses incurred in connection with attendance
at meetings of our board. The board may award special remuneration to any
director undertaking any special services on behalf of our company other than
services ordinarily required of a director. Other than indicated in this annual
report, no director received and/or accrued any compensation for his or her
services as a director, including committee participation and/or special
assignments during the fiscal year ended June 30, 2008.

DIRECTOR COMPENSATIONName
      Fees Earned or
      Paid in Cash ($)
      Option
      Granted
      Option Awards
      ($)(3)
      Non-Equity Incentive
      Plan Compensation ($)
      Change in Pension Value and
      Nonqualified Deferred Compensation
      Earnings
      All Other
      Compensation ($)
      Total ($)Hong Yang
    Nil
    Nil
    Nil
    Nil
    Nil
    Nil
    Nil


Family Relationships

None of the directors or officers of our company are related by
blood or marriage.

Indebtedness of Directors, Senior Officers, Executive
Officers and Other Management

None of the directors or executive officers of our company or
any associate or affiliate of our company during the last two fiscal years, is
or has been indebted to our company by way of guarantee, support agreement,
letter of credit or other similar agreement or understanding currently
outstanding.

---

- 22 -

Item 11. Security Ownership of Certain Beneficial Owners and
Management and Related Stockholders

The following table sets forth, as of June 30, 2008, certain
information with respect to the beneficial ownership of our common stock by each
stockholder known by us to be the beneficial owner of more than 5% of our common
stock and by each director, nominee and named executive officer of our company
and our wholly-owned operating subsidiary, and by the directors and executive
officers of our company as a group. Each person has sole voting and investment
power with respect to the shares of common stock, except as otherwise indicated.
Beneficial ownership consists of a direct interest in the shares of common
stock, except as otherwise indicated.

Name and Address of Beneficial
      Owner
      Amount and Nature of Beneficial
      Ownership
      Percentage of
      Class(1)(2)Hong Yang Room 707 Zhidi Building,
      No. 6 Jiao Chang Xi Road, Guangzhou, China
    10,000,000(3)
    70.46%Total (directors and officers as a
      group)
    10,000,000
    70.46%


|(1) | Rule 13d-3 under the Exchange Act, defines a beneficial
      owner of a security as any person who, directly or indirectly, through any
      contract, arrangement, understanding, relationship, or otherwise, has or
      shares: (i) voting power, which includes the power to vote, or to direct
      the voting of shares; and (ii) investment power, which includes the power
      to dispose or direct the disposition of shares. Certain shares may be
      deemed to be beneficially owned by more than one person (if, for example,
      persons share the power to vote or the power to dispose of the shares). In
      addition, shares are deemed to be beneficially owned by a person if the
      person has the right to acquire the shares (for example, upon exercise of
      an option) within 60 days of the date as of which the information is
      provided. In computing the percentage ownership of any person, the amount
      of shares outstanding is deemed to include the amount of shares
      beneficially owned by such person (and only such person) by reason of
      these acquisition rights. As a result, the percentage of outstanding
      shares of any person as shown in this table does not necessarily reflect
      the persons actual ownership or voting power with respect to the number
      of shares of common stock actually outstanding on June 30, 2008.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|(2) | Based on 14,193,000 shares outstanding as of August 21,
      2007.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|(3) | Of these, 10,000,000 are held directly by Hong
    Yang.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

Item 12. Certain Relationships And Related Transactions,
Director Independence

There has been no transaction, nor is there any currently
proposed transaction, since the beginning of the year June 30, 2008, in which
the small business issuer was or is to be a participant, and the amount involved
exceeds the lesser of $120,000 or one percent of the average of the small
business issuers total assets at year-end for the last three completed fiscal
years, and in which any related person had or will have a direct or indirect
material interest. A related person is a director or executive officer of our
company; a nominee for election as a director of our company; a beneficial owner
of more than five percent of the outstanding shares of our common stock; or any
member of the immediate family of any such person.

The promoter of our company is our sole director and officer.

Corporate Governance

We currently act with one (1) director, Hong Yang.

Committees of the Board

All proceedings of our board of directors for the year ended
June 30, 2008 were conducted by resolutions consented to in writing by the board
of directors and filed with the minutes of the proceedings of our board of
directors. Our company currently does not have nominating, compensation or audit
committees or committees performing similar functions nor does our company have
a written nominating, compensation or audit committee charter. Our board of
directors does not believe that it is necessary to have such committees because
it believes that the functions of such committees can be adequately performed by
the board of directors.

Our company does not have any defined policy or procedural
requirements for shareholders to submit recommendations or nominations for
directors. The board of directors believes that, given the stage of our
development, a specific nominating policy would be premature and of little
assistance until our business operations

---

- 23 -

develop to a more advanced level. Our company does not
currently have any specific or minimum criteria for the election of nominees to
the board of directors and we do not have any specific process or procedure for
evaluating such nominees. The board of directors will assess all candidates,
whether submitted by management or shareholders, and make recommendations for
election or appointment.

A shareholder who wishes to communicate with our board of
directors may do so by directing a written request addressed to our president at
the address appearing on the first page of this annual report on Form
10-KSB.

Audit Committee Financial Expert

Our board of directors has determined that we do not have a
board member that qualifies as an "audit committee financial expert" nor do we
have a board member that qualifies as "independent" as the term is used in Rule
4200(a)(15) of the NASDAQ Marketplace Rules.

We believe that our board of directors is capable of analyzing
and evaluating our financial statements and understanding internal controls and
procedures for financial reporting. The board of directors of our company does
not believe that it is necessary to have an audit committee because management
believes that the functions of an audit committee can be adequately performed by
the board of directors. In addition, we believe that retaining an independent
director who would qualify as an "audit committee financial expert" would be
overly costly and burdensome and is not warranted in our circumstances given the
stage of our development and the fact the we have not generated any positive
cash flows from operations to date.

Item 13. Exhibits

|Item Number | Description                                                                                                                                                                                                                                 
|----------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|            |                                                                                                                                                                                                                                             
|(3)         | Articles of Incorporation
      and By-laws                                                                                                                                                                                                 
|            |                                                                                                                                                                                                                                             
|3.1         | Certificate of Incorporation
      (incorporated by reference from our Registration Statement on Form SB-2,
      filed on December 22, 2006)                                                                                               
|            |                                                                                                                                                                                                                                             
|3.2         | Bylaws (incorporated by
      reference from our Registration Statement on Form SB-2 filed on December
      22, 2006)                                                                                                                      
|            |                                                                                                                                                                                                                                             
|(10)        | Material Contracts                                                                                                                                                                                                                          
|            |                                                                                                                                                                                                                                             
|10.1        | Consulting Agreement dated
      August 1, 2005 between Golden Century Technologies Corporation and Mr.
      Moyou Yu (incorporated by reference from our Registration Statement on
      Form SB-2 filed on December 22, 2006)            
|            |                                                                                                                                                                                                                                             
|10.2        | Consulting Agreement dated
      August 1, 2005 between Golden Century Technologies Corporation and Ms. Li
      Yang (incorporated by reference from our Registration Statement on Form
      SB-2 filed on December 22, 2006)             
|            |                                                                                                                                                                                                                                             
|10.3        | Production Agreement dated
      October 31, 2005 between Golden Century Technologies Corporation and
      Colo-Majic Liners, Inc.(incorporated by reference from our Registration
      Statement on Form SB-2 filed on December 22, 2006)
|            |                                                                                                                                                                                                                                             
|10.4        | Amendment Consulting Agreement
      dated August 1, 2006 between Golden Century Technologies Corporation and
      Mr. Moyou Yu(incorporated by reference from our Registration Statement on
      Form SB-2 filed on December 22, 2006)   

---

- 24 -

|10.5  | Amendment Consulting Agreement
      dated August 1, 2006 between Golden Century Technologies Corporation and
      Ms. Li Yang (incorporated by reference from our Registration Statement on
      Form SB-2 filed on December 22, 2006)    
|----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                              
|10.6  | Licensing Agreement dated September
      28, 2006 between Golden Century Technologies Corporation and Colo-Majic
      Liners, Inc.(incorporated by reference from our Registration Statement on
      Form SB-2 filed on December 22, 2006)
|      |                                                                                                                                                                                                                                              
|10.7  | Amended Licensing Agreement dated
      January 15, 2007 between Golden Century Technologies Corporation and Colo-Majic
      Liners, Inc. (incorporated by reference from our Form 8-K filed on January
      18, 2007)                     
|      |                                                                                                                                                                                                                                              
|10.8  | Distribution Agreement dated January
      16, 2007 between Golden Century Technologies Corporation and T-Ray Science,
      Inc. (incorporated by reference from our Form 8-K filed on January 18, 2007)                                    
|      |                                                                                                                                                                                                                                              
|(23)  | Consents of Experts & Counsel                                                                                                                                                                                                                
|      |                                                                                                                                                                                                                                              
|23.1* | Consent of Independent Auditor
      (Consent of Manning Elliott LLP, Chartered Accountants)                                                                                                                                                 
|      |                                                                                                                                                                                                                                              
|(31)  | Section 302 Certification                                                                                                                                                                                                                    
|      |                                                                                                                                                                                                                                              
|31.1* | Certification
      of Chief Executive Officer and Chief Financial Officer as adopted pursuant
      to Section 302 of the Sarbanes-Oxley Act of 2002                                                                                        
|      |                                                                                                                                                                                                                                              
|(32)  | Section 906 Certification                                                                                                                                                                                                                    
|      |                                                                                                                                                                                                                                              
|32.1* | Certification
      of Chief Executive Officer as adopted pursuant to Section 906 of the Sarbanes-Oxley
      Act of 2002                                                                                                                    

* Filed herewith

Item 14. Principal Accountant Fees And Services Audit
Fees

The following table sets forth the fees billed to our company
for professional services rendered by our company's independent registered
public accounting firm, for the year ended June 30, 2007 and June 30, 2006:

|Services       | 2008       | 2007   
|-------------- | ---------- | -------
|Audit fees     | $17,342.55 | $13,376
|Tax fees       | Nil        | Nil    
|All other fees | Nil        | Nil    
|               |            |        
|Total fees     | $17,342.55 | $13,376

Audit Fees. Consist of fees billed for professional
services rendered for the audits of our financial statements, reviews of our
interim consolidated financial statements included in quarterly reports,
services performed in connection with filings with the Securities and Exchange
Commission and related comfort letters and other services that are normally
provided by Manning Elliott LLP for the fiscal years ended June 30, 2008 and
June 30, 2007 in connection with statutory and regulatory filings or
engagements.

Tax Fees. Consist of fees billed for professional
services for tax compliance, tax advice and tax planning. These services include
assistance regarding federal, state and local tax compliance and consultation in
connection with various transactions and acquisitions.

---

- 25 -

We do not use Manning Elliott LLP for financial information
system design and implementation. These services, which include designing or
implementing a system that aggregates source data underlying the financial
statements or generates information that is significant to our financial
statements, are provided internally or by other service providers. We do not
engage Manning Elliott LLP to provide compliance outsourcing services.

Effective May 6, 2003, the Securities and Exchange Commission
adopted rules that require that before Manning Elliott LLP is engaged by us to
render any auditing or permitted non-audit related service, the engagement
be:

- approved by our audit committee (the functions of which are performed by
  our sole director); or
- entered into pursuant to pre-approval policies and procedures established
  by the board of directors, provided the policies and procedures are detailed
  as to the particular service, the board of directors is informed of each
  service, and such policies and procedures do not include delegation of the
  board of directors' responsibilities to management.

Our board of directors pre-approves all services provided by
our independent auditors. All of the above services and fees were reviewed and
approved by our board of directors either before or after the respective
services were rendered.

Our board of directors has considered the nature and amount of
fees billed by Manning Elliott LLP and believe that the provision of services
for activities unrelated to the audit is compatible with maintaining Manning
Elliott LLPs independence.

---

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, we have duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

GOLDEN CENTURY TECHNOLOGIES CORPORATION

|By: | /s/ Hong Yang                                                                                     | 
|--- | ------------------------------------------------------------------------------------------------- | 
|    | Hong Yang, Chief Executive Officer,
      President and Director                                 
|    | (Principal Executive Officer,
      Principal Financial Officer and Principal Accounting Officer)
|    | Date: September 28, 2008                                                                          | 

---