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| [X]       | QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934   |
|-----------|------------------------------------------------------------------------------------------|
|      | For the quarterly period ended March 31, 2011                                       |
| [  ] | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  |
|      | For the transition period from _____ to _____                                            |

| Delaware                                   | 26-2443288                 |
|--------------------------------------------|----------------------------|
|  (State or Other Jurisdiction of      | (I.R.S. Employer I.D. No.) |
|   incorporation or organization) |                       |

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|                                                                                                                                          | Page(s) |
|-----------------------------------------------------------------------------------------------------------------------------------------------|---------|
|                                                                                                                                          |    |
| Consolidated Balance Sheets as of March 31, 2011 (Unaudited) and June 30, 2010                                                                | 2       |
|                                                                                                                                          |    |
| Consolidated Statements of Operations and Comprehensive Income (Loss) for the Three and Nine Months Ended March 31, 2011 and 2010 (Unaudited) | 3       |
|                                                                                                                                          |    |
| Consolidated Statements of Cash Flows for the Nine Months Ended March 31, 2011 and 2010 (Unaudited)                                           | 4       |
|                                                                                                                                          |    |
| Notes to Financial Statements (Unaudited)                                                                                                     | 5-7     |

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| JINZANGHUANG TIBET PHARMACEUTICALS, INC.                                                               |   |
|--------------------------------------------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS                                                                            |   |
|                                                                                                   |   |   |   |   |   |   |
|                                                                                                   |   |   |   |   |   |   |
| ASSETS                                                                                                 |
|                                                                                                   |   | March 31, |   |   | June 30, |   |
|                                                                                                   |   | 2011 |   |   | 2010 |   |
|                                                                                                   |   | (Unaudited) |   |   |   |   |
| CURRENT ASSETS:                                                                                        |   |   |   |   |   |   |
|      Cash                                                                     |   | $ | 1,036,932 |   |   | $ | 42,184 |   |
|      Accounts receivable                                                      |   |   | 513,867 |   |   |   | - |   |
|      Inventory                                                                |   |   | 290,716 |   |   |   | 305,557 |   |
|      Advance to supplier                                                      |   |   | 255,134 |   |   |   | 239,555 |   |
|      Prepaid expenses and other current assets                                |   |   | 58,862 |   |   |   | 15,351 |   |
|      Deferred tax assets                                                      |   |   | 9,012 |   |   |   | 15,092 |   |
| TOTAL CURRENT ASSETS                                                                                   |   |   | 2,164,523 |   |   |   | 617,739 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| LONG-TERM ASSETS:                                                                                      |   |   |   |   |   |   |   |   |
|      Property and equipment, net of accumulated depreciation and amortization |   |   | 584,992 |   |   |   | 576,762 |   |
|      Contract deposit                                                         |   |   | 125,565 |   |   |   | 132,570 |   |
| TOTAL LONG-TERM ASSETS                                                                                 |   |   | 710,557 |   |   |   | 709,332 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| TOTAL  ASSETS                                                                                |   | $ | 2,875,080 |   |   | $ | 1,327,071 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| CURRENT LIABILITIES:                                                                                   |   |   |   |   |   |   |   |   |
|      Accrued expenses and other current liabilities                           |   | $ | 415,626 |   |   | $ | 79,451 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| TOTAL CURRENT LIABILITIES AND TOTAL LIABILITIES                                                        |   |   | 415,626 |   |   |   | 79,451 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| STOCKHOLDERS' EQUITY:                                                                                  |   |   |   |   |   |   |   |   |
|    Common stock, $0.001 par value,                                                      |   |   |   |   |   |   |   |   |
|     300,000,000 shares authorized,                                                 |   |   |   |   |   |   |   |   |
|     40,665,063 shares issued and outstanding                                       |   |   |   |   |   |   |   |   |
|     at March 31, 2011 and June 30, 2010, respectively                              |   |   | 40,665 |   |   |   | 40,665 |   |
|    Additional paid-in capital                                                           |   |   | 568,077 |   |   |   | 568,077 |   |
|    Retained earnings (Accumulated deficit)                                              |   |   | 964,188 |   |   |   | (128,285 | ) |
|    Accumulated other comprehensive income                                               |   |   | 34,764 |   |   |   | 3,556 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| TOTAL STOCKHOLDERS' EQUITY OF JINZANGHUANG TIBET PHARMACEUTICALS, INC.                                 |   |   | 1,607,694 |   |   |   | 484,013 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| NONCONTROLLING INTEREST IN SUBSIDIARY                                                                  |   |   | 851,760 |   |   |   | 763,607 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| TOTAL STOCKHOLDERS' EQUITY                                                                             |   |   | 2,459,454 |   |   |   | 1,247,620 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                                             |   | $ | 2,875,080 |   |   | $ | 1,327,071 |   |

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| JINZANGHUANG TIBET PHARMACEUTICALS, INC.                                  |   |
|---------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)     |   |
| (Unaudited)                                                               |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                      |   | THREE MONTHS ENDED MARCH 31, |   |   | NINE MONTHS ENDED MARCH 31, |   |
|                                                                      |   | 2011 |   |   | 2010 |   |   | 2011 |   |   | 2010 |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| REVENUE                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
|      -Pharmaceutical products                    |   | $ | - |   |   | $ | 61,888 |   |   | $ | 26,997 |   |   | $ | 610,374 |   |
|      -Services                                   |   |   | 1,329,240 |   |   |   | - |   |   |   | 1,881,954 |   |   |   | - |   |
|                                                                      |   |   | 1,329,240 |   |   |   | 61,888 |   |   |   | 1,908,951 |   |   |   | 610,374 |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| COSTS OF REVENUE                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      -Pharmaceutical products                    |   |   | - |   |   |   | 49,393 |   |   |   | 24,594 |   |   |   | 441,109 |   |
|      -Services                                   |   |   | 63,436 |   |   |   | - |   |   |   | 132,013 |   |   |   | - |   |
|                                                                      |   |   | 63,436 |   |   |   | 49,393 |   |   |   | 156,607 |   |   |   | 441,109 |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| GROSS PROFIT                                                              |   |   | 1,265,804 |   |   |   | 12,495 |   |   |   | 1,752,344 |   |   |   | 169,265 |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| COSTS AND EXPENSES                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      General and Administrative Expenses         |   |   | 113,489 |   |   |   | 38,502 |   |   |   | 212,226 |   |   |   | 183,930 |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| INCOME (LOSS) BEFORE INCOME TAX                                           |   |   | 1,152,315 |   |   |   | (26,007 | ) |   |   | 1,540,118 |   |   |   | (14,665 | ) |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| INCOME TAX (CREDIT)                                                       |   |   | 289,451 |   |   |   | (1,199 | ) |   |   | 389,511 |   |   |   | 17,912 |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET INCOME (LOSS)                                                         |   |   | 862,864 |   |   |   | (24,808 | ) |   |   | 1,150,607 |   |   |   | (32,577 | ) |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS          |   |   | 43,697 |   |   |   | (236 | ) |   |   | 58,134 |   |   |   | 2,429 |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY                             |   |   | 819,167 |   |   |   | (24,572 | ) |   |   | 1,092,473 |   |   |   | (35,006 | ) |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OTHER COMPREHENSIVE INCOME (LOSS)                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Foreign currency translation adjustment                 |   |   | 21,289 |   |   |   | 385 |   |   |   | 61,227 |   |   |   | 1,750 |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| COMPREHENSIVE INCOME (LOSS)                                               |   |   | 840,456 |   |   |   | (24,187 | ) |   |   | 1,153,700 |   |   |   | (33,256 | ) |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LESS: OTHER COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS |   |   | 3,438 |   |   |   | - |   |   |   | 30,019 |   |   |   | 36 |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY                   |   | $ | 837,018 |   |   | $ | (24,187 | ) |   | $ | 1,123,681 |   |   | $ | (33,292 | ) |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted earnings per common share                               |   | $ | 0.02 |   |   | $ | (0.00 | ) |   | $ | 0.03 |   |   | $ | (0.00 | ) |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average number of shares outstanding, basic and diluted          |   |   | 40,665,063 |   |   |   | 40,645,063 |   |   |   | 40,665,063 |   |   |   | 40,645,063 |   |

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| JINZANGHUANG TIBET PHARMACEUTICALS, INC.                                          |   |
|-----------------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF CASH FLOW                                              |   |
| (Unaudited)                                                                       |   |
|                                                                              |   |   |   |   |   |   |
|                                                                              |   |   |   |   |   |   |
|                                                                              |   | NINE MONTHS ENDED MARCH 31, |   |
|                                                                              |   | 2011 |   |   | 2010 |   |
| OPERATING ACTIVITIES:                                                             |   |   |   |   |   |   |
| Net loss attributable to the Company                                              |   | $ | 1,092,473 |   |   | $ | (35,006 | ) |
| Adjustments to reconcile net loss to net cash used                                |   |   |   |   |   |   |   |   |
|  in operating activities:                                                    |   |   |   |   |   |   |   |   |
|      Net income attributable to noncontrolling interests |   |   | 58,134 |   |   |   | 2,429 |   |
|      Depreciation and amortization                       |   |   | 14,320 |   |   |   | 6,539 |   |
|      Amortization of long-term contract                  |   |   | 11,415 |   |   |   | - |   |
|      Deferred tax                                        |   |   | 6,080 |   |   |   | - |   |
| Changes in operating assets and liabilities:                                      |   |   |   |   |   |   |   |   |
|      Accounts receivable                                 |   |   | (513,867 | ) |   |   | 32,804 |   |
|      Inventory                                           |   |   | 25,005 |   |   |   | 570 |   |
|      Advance to supplier                                 |   |   | (7,610 | ) |   |   | (72,910 | ) |
|      Contract deposit                                    |   |   | - |   |   |   | (146,800 | ) |
|      Prepaid exenses and other current assets            |   |   | (43,009 | ) |   |   | (38,403 | ) |
|      Accrued expenses and other current liabilities      |   |   | 334,673 |   |   |   | (559,657 | ) |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES                               |   |   | 977,614 |   |   |   | (810,434 | ) |
|                                                                              |   |   |   |   |   |   |   |   |
| INVESTING ACTIVITIES:                                                             |   |   |   |   |   |   |   |   |
|     Acquisition of property and equipment                     |   |   | (3,364 | ) |   |   | - |   |
| NET CASH USED IN INVESTING ACTIVITIES                                             |   |   | (3,364 | ) |   |   | - |   |
|                                                                              |   |   |   |   |   |   |   |   |
| FINANCING ACTIVITIES:                                                             |   |   |   |   |   |   |   |   |
|      Contribution from minority interest                 |   |   | - |   |   |   | 36,700 |   |
|      Proceeds of loan from shareholders                  |   |   | - |   |   |   | 33,741 |   |
|      Capital contribution                                |   |   | - |   |   |   | 772,966 |   |
| NET CASH PROVIDED BY FINANCING ACTIVITIES                                         |   |   | - |   |   |   | 843,407 |   |
|                                                                              |   |   |   |   |   |   |   |   |
| EFFECT OF EXCHANGE RATE ON CASH                                                   |   |   | 20,498 |   |   |   | 219 |   |
|                                                                              |   |   |   |   |   |   |   |   |
| INCREASE (DECREASE) IN CASH                                                       |   |   | 994,748 |   |   |   | 33,192 |   |
|                                                                              |   |   |   |   |   |   |   |   |
| CASH - BEGINNING OF PERIOD                                                        |   |   | 42,184 |   |   |   | 25,115 |   |
|                                                                              |   |   |   |   |   |   |   |   |
| CASH - END OF PERIOD                                                              |   | $ | 1,036,932 |   |   | $ | 58,307 |   |
|                                                                              |   |   |   |   |   |   |   |   |
|                                                                              |   |   |   |   |   |   |   |   |
| Supplemental disclosures of cash flow information:                                |   |   |   |   |   |   |   |   |
|    Cash paid for income tax                                        |   | $ | 100,447 |   |   | $ | 17,335 |   |

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| JINZANGHUANG TIBET PHARMACEUTICALS, INC.   |
|--------------------------------------------|
|                                       |
| NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
|                                       |
| March 31, 2011                             |
|                                       |

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|                                        |   | Nine months ended, |     |
|---------------------------------------------|--------|--------------------|----------|
|                                        |   | March 31 2011      |     |   | March 31 2010 |   |
|                                        |   | Amount             |     |   | Amount |   |
| Income tax under U.S. Statutory rate        |   | $                  | 539,041  |   |   | $ | (5,123 | ) |
| Tax rate difference between China and U.S.  |   |               | (155,804 | ) |   |   | (7,165 | ) |
| NOL from U.S. with 100% valuation allowance |   |               | 6,274    |   |   |   | 30,200 |   |
| Income tax under Effective tax rate         |   | $                  | 389,511  |   |   | $ | 17,912 |   |

|                                |   | March 31 2011 |    | March 31 2010 |   |
|-------------------------------------|--------|---------------|---------|---------------|--------|
| Current – foreign             |   | $             | 383,431 |          |   | $ | 21,219 |   |
| Deferred – foreign            |   |          | 6,080   |          |   |   | (3,307 | ) |
| Deferred - United States            |   |          | (6,274  | )             |   |   | (30,200 | ) |
| Valuation allowance - United States |   |          | 6,274   |          |   |   | 30,200 |   |
| Total                               |   | $             | 389,511 |          |   | $ | 17,912 |   |

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|   | ● | Implement our direct marketing program, including development of an online presence; |
|--------|-----------------|--------------------------------------------------------------------------------------|

|   | ● | Acquire the rights to pharmaceuticals and nutraceuticals that will complement our existing product line; |
|--------|-----------------|----------------------------------------------------------------------------------------------------------|

|   | ● | Carry on clinical trials of pharmaceuticals required to obtain SFDA approval; |
|--------|-----------------|-------------------------------------------------------------------------------|

|   | ● | Establish franchisees throughout China; and |
|--------|-----------------|---------------------------------------------|

|   | ● | Implement an advertising and marketing program adequate to assure us of substantial market presence. |
|--------|-----------------|------------------------------------------------------------------------------------------------------|

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| 31.1 | Rule 13a-14(a) Certification - CEO |
|------|------------------------------------|
| 31.2 | Rule 13a-14(a) Certification - CFO |
| 32   | Rule 13a-14(b) Certifications      |

|               | JINZANGHUANG TIBET PHARMACEUTICALS, INC.                                      |
|--------------------|-------------------------------------------------------------------------------|
|               |                                                                          |
| Date: May 16, 2011 | By: /s/ Xue Bangyi                                                            |
|               |        Xue Bangyi, Chief Executive Officer |

|  Date: May 16, 2011 | By: /s/ Eva Deng                                                                           |
|--------------------------|--------------------------------------------------------------------------------------------|
|                     |        Eva Deng, Chief Financial and Accounting Officer |

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