U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549




                                   FORM 10-QSB



[X]      Quarterly report pursuant to section 13 or 15(d) of the Securities
         Exchange Act of 1934

         For the quarter period ended June 30, 2000
                                      -------------

[  ]     Transition report pursuant to section 13 or 15(d) of the Securities
         Exchange Act of 1934

         For the transition period from ___________ to _____________



                         OVM INTERNATIONAL HOLDING CORP.
        (Exact Name of Small Business Issuer as specified in its Charter)




         Nevada                                       88-0344135
(State or other Jurisdiction                        (IRS Employer
      of incorporation)                           Identification No.)



                             West 516 Sprague Avenue
                            Spokane, Washington 99204
                     (Address of Principal Executive Office)

                                 (509) 744-8590
                (Issuer's Telephone Number, Including Area Code)



Check whether the registrant: (1) filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 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 requirements for the past 90 days.

(1)   Yes    [X]    No    [ ]             (2)    Yes   [X]     No    [ ]

State the number of shares outstanding of each of the issuer's classes of common
stock, as of the latest practicable date: 12,050,000 shares of common stock,
$0.0001 par value, as of August 14, 2000.

Traditional Small Business Disclosure Format:   Yes      [   ]    No       [X]

<PAGE>

                         PART I - FINANCIAL INFORMATION

                          ITEM 1. FINANCIAL STATEMENTS

                OVM INTERNATIONAL HOLDING CORP. AND SUBSIDIARIES

              CONDENSED CONSOLIDATED INCOME STATEMENTS (UNAUDITED)
        FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2000 AND 1999
             (Amounts in thousands, except share and per share data)
<TABLE>
<CAPTION>


                                                     Three Months Ended June 30,                   Six Months Ended June 30,
                                                     ---------------------------                   -------------------------
                                                   2000        1999          2000            2000            1999            2000
                                                   ----        ----          ----            ----            ----            ----
                                                   RMB          RMB            US$            RMB             RMB            US$
<S>                                              <C>           <C>             <C>           <C>              <C>            <C>
NET SALES                                        40,447        45,065          4,885         61,050           80,848         7,373

COST OF SALES                                   (33,765)      (25,808)        (4,078)       (45,271)         (44,971)       (5,467)
                                               --------      --------        -------        -------          -------       -------
GROSS PROFIT                                      6,682        19,257            807         15,779           35,877         1,906

SELLING AND ADMINISTRATIVE
  EXPENSES                                       (9,502)      (12,145)        (1,148)       (18,470)         (23,786)       (2,231)

INTEREST EXPENSES                                  (279)         (947)           (34)        (1,219)          (1,890)         (147)

INTEREST INCOME                                     130            45             16            138              130            17

OTHER INCOME/(EXPENSES), NET                     (1,492)          256           (180)        (1,522)             653          (184)
                                            -----------   -----------     ----------     ----------     ------------    ----------
INCOME/(LOSS) BEFORE INCOME
  TAXES                                          (4,461)        6,466           (539)        (5,294)          10,984          (639)

INCOME TAXES                                     (2,813)       (1,066)          (340)        (2,885)          (1,810)         (349)
                                            -----------   -----------     ----------     ----------     ------------    ----------
                                                 (7,274)        5,400           (879)        (8,179)           9,174          (988)

MINORITY INTERESTS                                2,024        (1,802)           245          2,142           (3,062)          259
                                            -----------   -----------     ----------     ----------     ------------    ----------
                                                 (5,250)        3,598           (634)        (6,037)           6,112          (729)

EQUITY IN EARNINGS OF EQUITY
  INVESTEE                                            2            82             --             13              117             1
                                            -----------   -----------     ----------     ----------     ------------    ----------
NET INCOME/(LOSS)                                (5,248)        3,680           (634)        (6,024)           6,229          (728)
                                            ===========   ===========     ==========     ==========     ============    ==========

BASIC AND DILUTED EARNINGS/(LOSS)
  PER SHARE                                       (0.44)         0.31          (0.05)         (0.50)            0.52         (0.06)
                                            ===========   ===========     ==========     ==========     ============    ==========
WEIGHTED AVERAGE NUMBER OF
    SHARES OUTSTANDING                       12,050,000    12,050,000     12,050,000     12,050,000       12,050,000    12,050,000
                                            ===========   ===========     ==========     ==========     ============    ==========
</TABLE>

See notes to condensed consolidated financial statements.

                                       2

<PAGE>

                OVM INTERNATIONAL HOLDING CORP. AND SUBSIDIARIES

                      CONDENSED CONSOLIDATED BALANCE SHEETS
                    AS OF JUNE 30, 2000 AND DECEMBER 31, 1999
                             (Amounts in thousands)
<TABLE>
<CAPTION>

                                                             June 30,     December 31,          June 30,
                                                                 2000             1999              2000
                                                                 ----             ----              ----
                                                                  RMB              RMB               US$
                                               Notes      (Unaudited)           (Note)       (Unaudited)
<S>                                                             <C>             <C>                <C>
ASSETS
Current assets:
  Cash and bank balances                                        9,888           22,859             1,194
  Accounts receivable                                          33,743           33,804             4,075
  Inventories                                    2             19,256           32,584             2,326
  Prepayments, deposits and other                              12,124            9,313             1,464
  Due from related parties                                     38,891           36,360             4,697
  Assets held for sale                                              -            6,609                 -
                                                           ----------       ----------        ----------
Total current assets                                          113,902          141,529            13,756

Property, machinery and equipment, net           3             34,643           16,143             4,184
Investments                                                     8,616            8,332             1,041
Other assets:
  Deferred asset                                                1,989            4,661               240
  Staff housing loans                                             868            2,831               105
  Intangible assets                                             3,284            3,352               397
                                                           ----------       ----------        ----------
Total assets                                                  163,302          176,848            19,723
                                                           ==========       ==========        ==========

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
  Notes payable                                                 9,000           28,000             1,087
  Current portion of long term debt                               510              360                62
  Current portion of capital lease                                256                -                31
  Accounts payable                                             31,488           25,529             3,803
  Advance payments by customers                                 7,110            7,775               858
  Other payables and accrued liabilities                        9,499           15,062             1,147
  Taxes payable                                                 1,550            5,873               187
                                                           ----------       ----------        ----------
Total current liabilities                                      59,413           82,599             7,175
Long term debt net of current portion                             540              690                65
Capital lease obligations                                      17,934                -             2,166
                                                           ----------       ----------        ----------
Total liabilities                                              77,887           83,289             9,406
                                                           ----------       ----------        ----------

Minority interests in consolidated                             30,294           32,436             3,659
                                                           ----------       ----------        ----------

Shareholders' equity:
  Common stock, 40,000,000 shares, par
    US$0.0001 authorized; 12,050,000 shares,
    issued and outstanding                                         10               10                 1
Additional paid-in capital                                     30,795           30,795             3,720
Retained earnings                                              24,233           30,257             2,927
Accumulated other comprehensive income                             83               61                10
                                                           ----------       ----------        ----------
Total shareholders' equity                                     55,121           61,123             6,658
                                                           ----------       ----------        ----------

Total liabilities and shareholders' equity                    163,302          176,848            19,723
                                                           ==========       ==========        ==========
</TABLE>


Note: The balance sheet at December 31, 1999 has been derived from the audited
financial statements at that date but does not include all of the information
and footnotes required by generally accepted accounting principles for complete
financial statements.


See notes to condensed consolidated financial statements.


                                       3

<PAGE>

                OVM INTERNATIONAL HOLDING CORP. AND SUBSIDIARIES

            CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY
                      AND COMPREHENSIVE INCOME (UNAUDITED)
                     FOR THE SIX MONTHS ENDED JUNE 30, 2000
                             (Amounts in thousands)



<TABLE>
<CAPTION>

                                                                              Accumulated
                                                                                    Other
                                    Common      Additional       Retained   Comprehensive
                                    Stock         Paid-in        Earnings          Income          Total
                                 --------         --------  ---- --------  -------------      ----------
                                       RMB             RMB            RMB             RMB            RMB
<S>                                     <C>         <C>            <C>                 <C>        <C>
Balance at January 1, 2000              10          30,795         30,257              61         61,123

Comprehensive income:
  Net loss for  the period               -               -         (6,024)              -         (6,024)
  Currency translation                   -               -              -              22             22
                                 ---------      ----------     ----------      ----------     ----------
Total comprehensive income                                                                        (6,002)
                                                                                              ----------

Balance at June 30, 2000                10          30,795         24,233              83         55,121
                                 =========      ==========     ==========      ==========     ==========

</TABLE>

See notes to condensed consolidated financial statements.

                                       4

<PAGE>
                OVM INTERNATIONAL HOLDING CORP. AND SUBSIDIARIES

           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
                 FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999
                             (Amounts in thousands)

<TABLE>
<CAPTION>

                                                                        Six months ended June 30,
                                                                        -------------------------
                                                                 2000             1999              2000
                                                                 ----             ----              ----
                                                                  RMB              RMB               US$
<S>                                                              <C>                <C>             <C>
Net cash provided by/(used in) operating activities              (4,836)            7,784           (584)
                                                                -------           -------        -------

Cash flows from investing activities:
  Acquisition of property, machinery and equipment               (7,011)           (1,141)          (847)
  Disposal of property, machinery and equipment                      --                 7             --
                                                                -------           -------        -------
Net cash used in investing activities                            (7,011)           (1,134)          (847)
                                                                -------           -------        -------

Cash flows from financing activities:
  Repayments of notes payable                                    (1,000)           (2,000)          (121)
  Increase of long term related party loan                           --               288             --
  Principal payments under capital lease obligations               (124)               --            (15)
                                                                -------           -------        -------
Net cash used in financing activities                            (1,124)           (1,712)          (136)
                                                                -------           -------        -------

Net increase/(decrease) in cash and cash equivalent             (12,971)            4,938         (1,567)
Cash and cash equivalent, at beginning of period                 22,859            25,419          2,761
                                                                -------           -------        -------
Cash and cash equivalent, at end of period                        9,888            30,357          1,194
                                                                =======           =======        =======

Non-cash investing activities:
  Property, machinery and equipment acquired
    through capital lease obligations                            18,314                --          2,212
                                                                =======           =======        =======
</TABLE>

See notes to condensed consolidated financial statements.

                                       5

<PAGE>

                OVM INTERNATIONAL HOLDING CORP. AND SUBSIDIARIES

        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
                             (Amounts in thousands)


1.       BASIS OF PRESENTATION

         The accompanying unaudited condensed consolidated financial statements
         have been prepared in accordance with generally accepted accounting
         principles for interim financial information and with the instructions
         to Form 10-QSB and Article 10 of Regulation S-X. Accordingly, they do
         not include all of the information and footnotes required by generally
         accepted accounting principles for complete financial statements. In
         the opinion of management, all adjustments (consisting of normal
         recurring accruals) considered necessary for a fair presentation have
         been included. Operating results for the three month and six month
         periods ended June 30, 2000, are not necessarily indicative of the
         results that may be expected for the year ending December 31, 2000.

         For the convenience of the reader, amounts in Renminbi ("RMB") have
         been translated into United States dollars ("US$") at the rate of
         US$1.00 = RMB8.28 quoted by the People's Bank of China as at June 30,
         2000. No representation is made that the RMB amounts could have been,
         or could be, converted into US$ at that rate.

2.       INVENTORIES
<TABLE>
<CAPTION>
                                                                          June 30,         December 31,
                                                                              2000                 1999
                                                                              ----                 ----
                                                                               RMB                  RMB
<S>                                                                          <C>                  <C>
         Raw materials                                                       4,809                9,676
         Work in progress                                                      949               10,722
         Finished goods                                                     13,498               12,186
                                                                        ----------           ----------
                                                                            19,256               32,584
                                                                        ==========           ==========
</TABLE>

3.       PROPERTY, MACHINERY AND EQUIPMENT, NET
<TABLE>
<CAPTION>
                                                                          June 30,         December 31,
                                                                              2000                 1999
                                                                              ----                 ----
                                                                               RMB                  RMB
<S>                                                                         <C>                     <C>
         At cost:
           Buildings                                                        11,689                  741
           Plant and machinery                                              33,901               25,236
                                                                        ----------           ----------
                                                                            45,590               25,977
                                                                        ----------           ----------
         Accumulated depreciation:
           Buildings                                                           256                   41
           Plant and machinery                                              10,691                9,793
                                                                        ----------           ----------
                                                                            10,947                9,834
                                                                        ----------           ----------
         Property, machinery and equipment, net                             34,643               16,143
                                                                        ==========           ==========
</TABLE>

                                       6

<PAGE>

4.       MATERIAL AGREEMENTS

         In January 2000, the Company entered into various agreements with
         Liuzhou OVM Joint Stock Company Limited (the "JV Partner"), which has
         resulted in the following:

         a.   Termination of the Company's lease of land, buildings, property
              and equipment from the JV Partner.

         b.   Allocation of Company personnel to the JV Partner resulting in
              the reduction of Company personnel and financial assets related
              thereto.

         c.   Termination of the Company's rights to use certain intangible
              assets, including the "OVM" trademark.

         d.   Transfer of approximately 1/3 of the Company's inventories to
              the JV Partner at normal selling prices excluding value added tax
              at 17%.

         e.   Transfer of certain fixed assets included in Assets held for
              Sale at December 31, 1999.


         On December 11, 1999, as a result of the pending termination of the
         Company's lease of land, buildings, property and equipment from the JV
         Partner, the Company entered into a new lease agreement with an
         unaffiliated third party for the lease of land and buildings in which
         the Company's main operating facilities are located. The term of the
         lease is 25 years, beginning January 1, 2000, with annual rent of RMB1
         million (US$121,000) for the first five years and escalating at 1% each
         year thereafter. In addition, on December 12, 1999, the Company entered
         into a lease with another unaffiliated third party for the lease of
         production and transportation equipment. The term of the lease is 20
         years beginning January 1, 2000, with annual rent of approximately
         RMB767,000 (US$93,000). Both of the above leases are to be treated as
         capital leases.

         In January 2000, approximately 300 members of the Company's employees'
         left the Company and became employees of the JV Partner. Certain assets
         which were included in prepayments, deposits and other receivables,
         deferred assets and staff housing loans and amounted to RMB787,000
         (US$95,000), RMB3,254,000 (US$393,000)and RMB2,034,000 (US$246,000),
         respectively related to these employees were transferred to the JV
         Partner in the second quarter of 2000.

         Beginning in January 2000, the Company's products are marketed under a
         new trademark ("HVM"), which is in the process of being registered by a
         related company, Shenzhen Hong Da Technical Company Limited ("Hong
         Da"). Hong Da has granted the Company the exclusive right to use the
         HVM trademarks without cost.

         The Company sold certain inventories and buildings, plant and equipment
         to the JV Partner in the second quarter of 2000 at their carrying
         values of RMB15,041,000 (US$1,817,000) and RMB9,515,000 (US$1,149,000),
         respectively.


                                       7
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

SIX MONTHS ENDED JUNE 30, 2000 COMPARED TO SIX MONTHS ENDED JUNE 30, 1999

         NET SALES AND GROSS PROFIT. Net sales for the first half of fiscal 2000
decreased by RMB19,798,000 (US$2,391,000) or 24.5% to RMB61,050,000
(US$7,373,000), compared to RMB80,848,000 (US$9,764,000) for the corresponding
period in 1999. The decrease was mainly due to the Company's relocation to new
production and office facilities in early 2000 and the production facilities are
not yet operating at full capacity. The Company also experienced competition
from its JV Partner.

         Gross profit decreased by RMB20,098,000 (US$2,427,000) or 56.0% to
RMB15,779,000 (US$1,906,000) for the first half of fiscal 2000 compared to
RMB35,877,000 (US$4,333,000) in the corresponding period of the prior year. The
decrease was due to the decrease in sales during the current period and the sale
of certain inventories to the JV Partner, amounting to RMB15,041,000
(US$1,817,000), at their carrying values.

         SELLING AND ADMINISTRATIVE EXPENSES. Selling and administrative
expenses for the first half of fiscal 2000 decreased by RMB5,316,000
(US$642,000) or 22.3% to RMB18,470,000 (US$2,231,000), compared to RMB23,786,000
(US$2,873,000) for the corresponding period in 1999. The decrease was mainly due
to a decrease in selling expenses as a result of a decrease in sales, and a
decrease in salary expenses as some of the staff was transferred to the JV
Partner.

         INTEREST INCOME/EXPENSE. Interest expense for the first half of fiscal
2000 decreased by RMB671,000 (US$81,000) or 35.5% to RMB1,219,000 (US$147,000),
compared to RMB1,890,000 (US$228,000) in the corresponding period of the prior
year. The Company has financed its acquisition of property, machinery and
equipment in the fiscal 2000 by capital leases totaling RMB18,314,000
(US$2,212,000). Although there was a decrease in interest expense in the first
half of fiscal 2000 on notes payable, resulting from the decrease in average
bank borrowing rates and outstanding notes payable, it was partially offset by
the interest expense arising from the capital lease obligations. Interest income
for the first half of fiscal 2000 was RMB138,000 (US$17,000) which was
comparable to RMB130,000 (US$16,000) in the corresponding period of the prior
year.

         OTHER INCOME/(EXPENSES), NET Other income for the first half of 1999
amounted to RMB653,000 (US$79,000), and mainly represented income received on
rental of machinery to certain related parties. Expenses recorded by the Company
for the first half of 2000 amounted to RMB1,522,000 (US$184,000), and mainly
arose from a sales return by a customer.

         INCOME TAXES. Pursuant to an approval issued by the State Tax Bureau of
the Liuzhou City dated July 22, 1966, the income of the JV is fully exempted
from Chinese national income tax for three years commencing from first
profitable year of operations in 1995 followed by a 50% exemption for the next
four years, after which the income is taxable at the full rate of 30% exclusive
of local income tax of 3%. The JV is also exempt from the local income tax rate
throughout the term of the joint venture. However, the National Tax Bureau has
revoked the preferential rate approval in 2000 such that the income of the JV is
only fully exempted from Chinese national income tax for two years commencing
from first profitable year of operation in 1995 followed by a 50% exemption for
the next three years, after which the income is taxable at the full rate of 30%
exclusive of local income tax of 3%. Accordingly, the Company has made
additional provisions in the current year for the income taxes assessed for
fiscal year 1997.

THREE MONTHS ENDED JUNE 30, 2000 COMPARED TO THREE MONTHS ENDED JUNE 30, 1999

         NET SALES AND GROSS PROFIT. Net sales for the second quarter of fiscal
2000 decreased by RMB4,618,000 (US$558,000) or 10.2% to RMB40,447,000
(US$4,885,000), compared to RMB45,065,000 (US$5,443,000) for the corresponding
period in 1999. The decrease was mainly due to the Company's relocation to new
production and office facilities in early 2000, which were not operated at full
capacity during the quarter. During the second quarter of fiscal 2000, the
Company sold certain inventories to the JV Partner at their carrying value which
amounted to RMB15,041,000 (US$1,817,000).


                                       8
<PAGE>


         Gross profit decreased by RMB12,575,000 (US$1,519,000) or 65.3% to
RMB6,682,000 (US$807,000) for the second quarter of fiscal 2000 compared to
RMB19,257,000 (US$2,326,000) in the corresponding period of the prior year. The
decrease was mainly due to the decrease in sales during the current period and
inventory sales to the JV Partner which were made at their carrying values.

         SELLING AND ADMINISTRATIVE EXPENSES. Selling and administrative
expenses for the second quarter of fiscal 2000 decreased by RMB2,643,000
(US$319,000) or 21.8% to RMB9,502,000 (US$1,148,000), compared to RMB12,145,000
(US$1,467,000) for the corresponding period in 1999. The decrease was mainly due
to a decrease in selling expenses as a result of a decrease in sales, and a
decrease in salary expenses as some of the staff were transferred to the JV
Partner.

         INTEREST INCOME/EXPENSE. Interest expense for the second quarter of
fiscal 2000 decreased by RMB668,000 (US$80,000) or 70.5% to RMB279,000
(US$34,000), compared to RMB947,000 (US$114,000) for the corresponding period of
the prior year. The Company has financed its acquisition of property, machinery
and equipment in fiscal 2000 by capital leases totaling RMB18,314,000
(US$2,212,000). The decrease in interest expense in the second quarter of fiscal
2000, resulted from the decrease in average bank borrowing rates and a reduction
in outstanding notes payable, which was only partially offset by the interest
expense arising from the capital lease obligations. Interest income increased
from RMB45,000 (US$5,000) for the second quarter of fiscal 1999 compared to
RMB130,000 (US$16,000) for the corresponding period of fiscal 2000. The increase
was due to an increase in average bank balances during the current period.

         OTHER INCOME/(EXPENSES), NET Other income for the second quarter of
1999 amounted to RMB256,000 (US$31,000), and mainly represented income received
on rental of machinery to certain related parties. Expenses recorded by the
Company for the second quarter of 2000 amounted to RMB1,492,000 (US$180,000),
and mainly arose from a sales return by a customer.

         INCOME TAXES. See discussion of income taxes under comparison of six
months ended June 30, 2000 compared to six months ended June 30, 1999.


                                       9
<PAGE>

LIQUIDITY AND CAPITAL RESOURCES

         The Company's primary liquidity needs are to fund inventories, accounts
receivable and capital expenditures. The Company has financed its working
capital requirements through a combination of internally generated cash, short
term bank loans and advances from affiliates.

         The Company had a working capital surplus of RMB54,489,000
(US$6,581,000) as of June 30, 2000 compared to RMB58,930,000 (US$7,117,000) as
of December 31, 1999. Net cash used in operating activities for the six months
ended June 30, 2000 was RMB4,836,000 (US$584,000) as compared to net cash
provided by operating activities of RMB7,784,000 (US$940,000) for the
corresponding period in 1999. Net cash flows from the Company's operating
activities are attributable to the Company's income and changes in operating
assets and liabilities.

         The Company's additions to property, machinery and equipment for the
first half of fiscal 2000 were RMB25,325,000 (US$3,059,000), of which 18,314,000
(US$2,212,000) was financed by capital leases.

         There has been no other significant change in financial condition and
liquidity since the fiscal year ended December 31, 1999. The Company believes
that internally generated funds together with available bank credit, will be
sufficient to satisfy its anticipated working capital needs for at least the
next twelve months.


YEAR 2000 ISSUE

         The Year 2000 issue is the result of information technology systems and
embedded systems using a two-digit format, as opposed to four digits, to
indicate the year. The Company and its subsidiaries use a limited amount of
computer software primarily in connection with their accounting and financial
reporting systems. Such programs have been upgraded so that they are year 2000
compatible. In addition to software issues, certain of the computer hardware of
the Company and its subsidiaries have been replaced with more current
technology.

         As of June 30, 2000, the Company has not experienced any disruptions or
failures to its normal operations as a result of the transition into calendar
year 2000.


                                       10
<PAGE>

                           PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS:

         NONE

ITEM 2.  CHANGES IN SECURITIES:

         NONE

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES:

         NONE

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

         NONE

ITEM 5.  OTHER INFORMATION

         NONE

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K


(a)  Exhibit 27 - Financial Data Schedule (Electronic filing only).

(b) During the three months ended June 30, 2000, the Company filed no current
Reports on Form 8-K.



                                       11
<PAGE>

                                   SIGNATURES


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


                                       OVM INTERNATIONAL HOLDING CORP.





August 16, 2000                        By:/s/ Ching Lung Po
                                             ----------------------------------
                                          Ching Lung Po, President



                                       By:/s/ Deng Xiao Qiong
                                          -----------------------------------
                                          Deng Xiao Qiong, Principal Financial
                                          and Accounting Officer





                                       12