| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------|

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

| Nevada                                           |   | 98-0660577                           |
|--------------------------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of incorporation or |   | (I.R.S. Employer Identification No.) |
| organization)                                    |   |                                 |

| Large accelerated filer  ̈ | Accelerated filer  ̈    |
|--------------------------------|-----------------------------|
| Non-accelerated filer  ̈   | Smaller Reporting Company x |

----

| Contents                                                                                                                              |   | Page(s) |
|---------------------------------------------------------------------------------------------------------------------------------------|--------|---------|
|                                                                                                                                  |   |    |
| PART I: FINANCIAL INFORMATION                                                                                                         |   | 2       |
|                                                                                                                                  |   |    |
| Item 1      Financial Statements                                                                        |   | 2       |
|                                                                                                                                  |   |    |
| Item 2      Management’s Discussion and Analysis of Financial Condition and Results of Operations |   | 16      |
|                                                                                                                                  |   |    |
| Item 3      Quantitative and Qualitative Disclosure about Market Risk                                   |   | 22      |
|                                                                                                                                  |   |    |
| Item 4      Controls and Procedures                                                                     |   | 22      |
|                                                                                                                                  |   |    |
| PART II: OTHER INFORMATION                                                                                                       |   | 23      |
|                                                                                                                                  |   |    |
| Item 1      Legal Proceedings                                                                           |   | 23      |
|                                                                                                                                  |   |    |
| Item 1A   Risk Factors                                                                                                 |   | 23      |
|                                                                                                                                  |   |    |
| Item 2      Unregistered Sales of Equity Securities and Use of Proceeds                                 |   | 23      |
|                                                                                                                                  |   |    |
| Item 3      Defaults Upon Senior Securities                                                             |   | 23      |
|                                                                                                                                  |   |    |
| Item 4      Removed and Reserved                                                                        |   | 23      |
|                                                                                                                                  |   |    |
| Item 5      Other Information                                                                           |   | 23      |
|                                                                                                                                  |   |    |
| Item 6      Exhibits                                                                                    |   | 23      |
|                                                                                                                                  |   |    |
| SIGNATURES                                                                                                                            |   | 24      |

----

----

| Man Shing Agricultural Holdings, Inc. and Subsidiaries       |
|--------------------------------------------------------------|
| Condensed Consolidated Balance Sheets                        |
| As of March 31, 2011 (unaudited) and June 30, 2010 (audited) |

|                                                                                                                                                                    |   | 3/31/2011 |       |   | 6/30/2010       |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|------------|--------|-----------------|--------|
|                                                                                                                                                                         |   |      |       |   |  (Audited) |   |
| ASSETS                                                                                                                                                                       |   |      |       |   |            |   |
| CURRENT ASSETS                                                                                                                                                               |   |      |       |   |            |   |
| Cash and cash equivalents                                                                                                                                                    |   | $         | 6,299,438  |   |            | $      | 378,929 |   |
| Accounts receivable, trade                                                                                                                                                   |   |      | 4,713,034  |   |            | $      | 2,249,998 |   |
| Inventory                                                                                                                                                                    |   |      | 8,423,476  |   |            | $      | 4,938,043 |   |
| Deferred inventory costs                                                                                                                                                     |   |      | 4,993,926  |   |            | $      | 5,118,558 |   |
| Prepayments                                                                                                                                                                  |   |      | 523,621    |   |            | $      | 350,668 |   |
| Other receivables                                                                                                                                                            |   |      | 777        |   |            | $      | 747 |   |
| TOTAL CURRENT ASSETS                                                                                                                                                         |   | $         | 24,954,272 |   |            | $      | 13,036,943 |   |
|                                                                                                                                                                         |   |      |       |   |            |   |   |   |
| FIXED ASSETS                                                                                                                                                                 |   |      |       |   |            |   |   |   |
| Property, plant, and equipment                                                                                                                                               |   |      | 1,644,161  |   |            |   | 908,105 |   |
| Accumulated depreciation                                                                                                                                                     |   |      | (253,325   | )      |            |   | (182,665 | ) |
| Construction in progress                                                                                                                                                     |   |      | 17,404     |   |            |   | 124,697 |   |
| NET FIXED ASSETS                                                                                                                                                             |   | $         | 1,408,240  |   |            | $      | 850,137 |   |
|                                                                                                                                                                         |   |      |       |   |            |   |   |   |
| TOTAL ASSETS                                                                                                                                                                 |   | $         | 26,362,512 |   |            | $      | 13,887,080 |   |
|                                                                                                                                                                         |   |      |       |   |            |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                         |   |      |       |   |            |   |   |   |
| CURRENT LIABILITIES                                                                                                                                                          |   |      |       |   |            |   |   |   |
| Short-term borrowing                                                                                                                                                         |   | $         | 366,055    |   |            | $      | 352,087 |   |
| Note payable                                                                                                                                                                 |   |      | 318,375    |   |            | $      | 318,375 |   |
| Accounts payable                                                                                                                                                             |   |      | 1,383,587  |   |            | $      | 597,791 |   |
| Other payables and accrued liabilities                                                                                                                                       |   |      | 1,037,691  |   |            | $      | 1,047,529 |   |
| Received in advance                                                                                                                                                          |   |      | 407,566    |   |            | $      | 314,916 |   |
| Tax payable                                                                                                                                                                  |   |      | 257,350    |   |            | $      | 128,338 |   |
| TOTAL CURRENT LIABILITIES                                                                                                                                                    |   | $         | 3,770,624  |   |            | $      | 2,759,037 |   |
|                                                                                                                                                                         |   |      |       |   |            |   |   |   |
| LONG-TERM LIABILITIES                                                                                                                                                        |   |      |       |   |            |   |   |   |
| Convertible Note                                                                                                                                                             |   | $         | 1,500,000  |   |            | $      | 1,500,000 |   |
|                                                                                                                                                                         |   |      |       |   |            |   |   |   |
| TOTAL LIABILITIES                                                                                                                                                            |   | $         | 5,270,624  |   |            | $      | 4,259,037 |   |
|                                                                                                                                                                         |   |      |       |   |            |   |   |   |
| STOCKHOLDERS' EQUITY                                                                                                                                                         |   |      |       |   |            |   |   |   |
| Preferred stock, $.001 par, 25,000,000 shares authorized, 176,750 and 3,535,000 shares issued and outstanding at March 31, 2011 and June 30, 2010, respectively              |   |      | 177        |   |            |   | 3,535 |   |
| Common stock, $.001 par, 175,000,000 shares authorized, 48,026,958  and 38,026,958 shares issued and outstanding at March 31, 2011 and June 30, 2010, respectively |   |      | 48,027     |   |            |   | 38,027 |   |
| Additional paid-in capital                                                                                                                                                   |   |      | 4,195,545  |   |            |   | 177,187 |   |
| Accumulated other comprehensive income                                                                                                                                       |   |      | 855,085    |   |            |   | 189,186 |   |
| Statutory reserves                                                                                                                                                           |   |      | 5,823,139  |   |            |   | 2,134,501 |   |
| Accumulated earnings                                                                                                                                                         |   |      | 10,169,915 |   |            |   | 7,085,608 |   |
| TOTAL STOCKHOLDERS' EQUITY                                                                                                                                                   |   | $         | 21,091,888 |   |            | $      | 9,628,043 |   |
|                                                                                                                                                                         |   |      |       |   |            |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                   |   | $         | 26,362,512 |   |            | $      | 13,887,080 |   |

----

| Man Shing Agricultural Holdings, Inc. and Subsidiaries                             |
|------------------------------------------------------------------------------------|
| Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income |
| For the Three and Nine Months Ended March 31, 2011 and 2010                        |

|                                          |   | For the Three Months Ended |       |   | For the Nine Months Ended |   |
|-----------------------------------------------|--------|----------------------------|------------|--------|---------------------------|--------|
|                                          |   | 3/31/2011                  |       |   | 3/31/2010                 |   |   | 3/31/2011 |   |   | 3/31/2010 |   |
| Revenues                                      |   |                       |       |   |                      |   |   |   |   |   |   |   |
| Sales                                         |   |                       | 7,947,540  |   |                      |   | 5,283,909 |   |   |   | 23,419,274 |   |   |   | 15,074,376 |   |
| Cost of sales                                 |   |                       | 4,625,866  |   |                      |   | 3,118,228 |   |   |   | 13,598,988 |   |   |   | 9,873,399 |   |
| Gross profit                                  |   |                       | 3,321,674  |   |                      |   | 2,165,681 |   |   |   | 9,820,286 |   |   |   | 5,200,977 |   |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Operating expenses                            |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Selling and marketing                         |   |                       | 697,745    |   |                      |   | 353,446 |   |   |   | 2,196,824 |   |   |   | 816,749 |   |
| General and administrative                    |   |                       | 320,741    |   |                      |   | 85,562 |   |   |   | 716,096 |   |   |   | 305,553 |   |
| Total Operating Expenses                      |   |                       | 1,018,486  |   |                      |   | 439,008 |   |   |   | 2,912,920 |   |   |   | 1,122,302 |   |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
|                                          |   |                       | 2,303,188  |   |                      |   | 1,726,673 |   |   |   | 6,907,366 |   |   |   | 4,078,675 |   |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Other income (expenses), net                  |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Financial income (expenses), net              |   |                       | (71,489    | )      |                      |   | (11,302 | ) |   |   | (219,432 | ) |   |   | (27,643 | ) |
| Non-operating income (expense), net           |   |                       | 80,167     |   |                      |   | - |   |   |   | 80,273 |   |   |   | 4,237 |   |
| Total other income (loss), net                |   |                       | 8,678      |   |                      |   | (11,302 | ) |   |   | (139,159 | ) |   |   | (23,406 | ) |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Income from Operations                        |   |                       | 2,311,866  |   |                      |   | 1,715,371 |   |   |   | 6,768,207 |   |   |   | 4,055,269 |   |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Income taxes                                  |   |                       | -          |   |                      |   | - |   |   |   | - |   |   |   | - |   |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Net Income                                    |   |                       | 2,311,866  |   |                      |   | 1,715,371 |   |   |   | 6,768,207 |   |   |   | 4,055,269 |   |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Other comprehensive income (loss), net        |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Foreign currency translation gain (loss), net |   |                       | 222,610    |   |                      |   | 21,629 |   |   |   | 665,899 |   |   |   | (19,731 | ) |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Total comprehensive income                    |   |                       | 2,534,476  |   |                      |   | 1,737,000 |   |   |   | 7,434,106 |   |   |   | 4,035,538 |   |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average number of shares outstanding |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                         |   |                       | 45,138,069 |   |                      |   | 36,068,625 |   |   |   | 40,371,280 |   |   |   | 25,456,776 |   |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Diluted                                       |   |                       | 46,905,569 |   |                      |   | 72,068,625 |   |   |   | 62,804,934 |   |   |   | 61,741,962 |   |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Earnings per share                            |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                         |   |                       | 0.05       |   |                      |   | 0.05 |   |   |   | 0.17 |   |   |   | 0.16 |   |
|                                          |   |                       |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Diluted                                       |   |                       | 0.05       |   |                      |   | 0.02 |   |   |   | 0.11 |   |   |   | 0.07 |   |

----

| Man Shing Agricultural Holdings, Inc. and Subsidiaries    |
|-----------------------------------------------------------|
| Unaudited Condensed Consolidated Statements of Cash Flows |
| For the Nine Months Ended March 31, 2011 and 2010         |

|                                                                                        |   | For the Nine Months Ended at |       |
|---------------------------------------------------------------------------------------------|--------|------------------------------|------------|
|                                                                                        |   | 3/31/2011                    |       |   | 3/31/2010 |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                       |   |                         |       |   |   |   |
| Net income                                                                                  |   |                         | 6,768,207  |   |   |   | 4,055,270 |   |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |   |                         |       |   |   |   |   |   |
| Depreciation                                                                                |   |                         | 62,316     |   |   |   | 51,840 |   |
| Stock-based compensation to service providers                                               |   |                         | -          |   |   |   | (189,491 | ) |
| Increase (decrease) in cash from changes in:                                                |   |                         |       |   |   |   |   |   |
| Accounts receivable, trade                                                                  |   |                         | (2,332,714 | ) |   |   | 869,140 |   |
| Prepayments                                                                                 |   |                         | (166,681   | ) |   |   | (1,609,329 | ) |
| Deferred inventory costs                                                                    |   |                         | 322,022    |   |   |   | - |   |
| Inventory                                                                                   |   |                         | (3,232,632 | ) |   |   | (5,503,835 | ) |
| Other receivables                                                                           |   |                         | -          |   |   |   | (80,170 | ) |
| Accounts payable                                                                            |   |                         | 748,898    |   |   |   | (88,732 | ) |
| Tax payable                                                                                 |   |                         | 121,777    |   |   |   | 154,782 |   |
| Other payables and accrued liabilities                                                      |   |                         | (37,510    | ) |   |   | 260,349 |   |
| Received in advance                                                                         |   |                         | 78,644     |   |   |   | 227,668 |   |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES                                         |   |                         | 2,332,327  |   |   |   | (1,852,509 | ) |
|                                                                                        |   |                         |       |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                       |   |                         |       |   |   |   |   |   |
| Purchase of property, plant, and equipment                                                  |   |                         | (577,622   | ) |   |   | (230,008 | ) |
| NET CASH USED IN INVESTING ACTIVITIES                                                       |   |                         | (577,622   | ) |   |   | (230,008 | ) |
|                                                                                        |   |                         |       |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                       |   |                         |       |   |   |   |   |   |
| Increase of due to a director                                                               |   |                         | -          |   |   |   | 684 |   |
| Proceeds from short-term loans                                                              |   |                         | -          |   |   |   | 279,128 |   |
| Proceeds from Notes payable                                                                 |   |                         | -          |   |   |   | 1,818,375 |   |
| Proceeds from issue of common stock                                                         |   |                         | 4,025,129  |   |   |   | - |   |
| NET CASH PROVIDED BY FINANCING ACTIVITIES                                                   |   |                         | 4,025,129  |   |   |   | 2,098,187 |   |
|                                                                                        |   |                         |       |   |   |   |   |   |
| Foreign Currency Translation Adjustment                                                     |   |                         | 140,675    |   |   |   | (19,731 | ) |
|                                                                                        |   |                         |       |   |   |   |   |   |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                                        |   |                         | 5,920,509  |   |   |   | (4,061 | ) |
|                                                                                        |   |                         |       |   |   |   |   |   |
| CASH AND CASH EQUIVALENTS:                                                                  |   |                         |       |   |   |   |   |   |
| Beginning of period                                                                         |   |                         | 378,929    |   |   |   | 86,408 |   |
| End of period                                                                               |   |                         | 6,299,438  |   |   |   | 82,347 |   |
|                                                                                        |   |                         |       |   |   |   |   |   |
| Supplemental disclosure of cash flow information                                            |   |                         |       |   |   |   |   |   |
|                                                                                        |   |                         |       |   |   |   |   |   |
| Cash paid for:                                                                              |   |                         |       |   |   |   |   |   |
| Interest                                                                                    |   |                         | 83,345     |   |   |   | 13,461 |   |
| Income taxes                                                                                |   |                         | -          |   |   |   | - |   |

----

| 1. | BASIS OF PRESENTATION |
|----|-----------------------|

| 2. | ORGANIZATION BACKGROUND |
|----|-------------------------|

----

| 3. | DESCRIPTION OF BUSINESS |
|----|-------------------------|

| Peeled Ginger      |   | Diced Garlic       |
|--------------------|--------|--------------------|
|               |   |               |
| Diced Ginger       |   | Garlic Puree       |
|               |   |               |
| Ginger Puree Cubes |   | Garlic Puree Cubes |
|               |   |               |
| Ginger Puree       |   | Peeled Garlic      |
|               |   |               |
| Strawberry         |   | Diced Onion        |

----

| Customer                                          |   | Revenues |       |   | %      |   |
|---------------------------------------------------|--------|----------|------------|--------|--------|--------|
| 1.       Customer A |   | US$      | 3,879,590  |   |   |   | 17 | % |
| 2.       Customer B |   | US$      | 2,350,929  |   |   |   | 10 | % |
| 3.       Customer C |   | US$      | 1,970,524  |   |   |   | 8 | % |
| 4.       Customer D |   | US$      | 1,553,014  |   |   |   | 7 | % |
| 5.       Customer E |   | US$      | 1,406,641  |   |   |   | 6 | % |
| Total                                             |   | US$      | 11,160,698 |   |   |   | 48 | % |

----

| Market      |   | % ofrevenuecontribution |   |
|-------------|--------|------------------------------|--------|
| Japan       |   |                         | 38     | % |
| UK          |   |                         | 36     | % |
| Netherlands |   |                         | 17     | % |
| Others      |   |                         | 9      | % |
| Total       |   |                         | 100    | % |

| 4. | RECENTLY ISSUED ACCOUNTING STANDARDS |
|----|--------------------------------------|

| 5. | ACCOUNTS RECEIVABLE, NET |
|----|--------------------------|

----

|                                  |   | March 31, 2011 |      |   | June 30, 2010 |   |
|---------------------------------------|--------|--------------------------|-----------|--------|-------------------------|--------|
|                                  |   |                     |      |   |                    |   |
| Accounts receivable, gross            |   | $                        | 4,725,002 |   |                    | $      | 2,261,510 |   |
|                                  |   |                     |      |   |                    |   |   |   |
| Less: allowance for doubtful accounts |   |                     | (11,968   | )      |                    |   | (11,512 | ) |
| Accounts receivable, net              |   | $                        | 4,713,034 |   |                    | $      | 2,249,998 |   |

| 6. | INVENTORY |
|----|-----------|

|           | March 31, 2011 |   | June 30, 2010 |   |
|----------------|--------------------------|--------|-------------------------|--------|
|           |                     |   |                    |   |
| Raw materials  |                     |   | 7,784,051               |   |   |   | 4,551,760 |   |
| Finished goods |                     |   | 639,425                 |   |   |   | 386,283 |   |
| Inventories    |                     | $      | 8,423,476               |   |   | $ | 4,938,043 |   |

| 7. | DEFERRED INVENTORY COSTS |
|----|--------------------------|

| 8. | SHORT-TERM BORROWING (LINE OF CREDIT) |
|----|---------------------------------------|

| 9. | NOTE PAYABLE AND CONVERTIBLE REDEEMABLE DEBENTURES |
|----|----------------------------------------------------|

----

| 10. | STOCKHOLDERS’ EQUITY |
|-----|----------------------------|

----

| 11. | INCOME TAXES |
|-----|--------------|

----

| 12. | EARNINGS PER SHARE |
|-----|--------------------|

|                                                 |   | Three months ended |       |
|------------------------------------------------------|--------|------------------------------|------------|
|                                                 |   | March 31,               |       |
|                                                 |   | 2011                         |       |   | 2010 |   |
| Net income for the period                            |   | $                            | 2,311,866  |   |   | $ | 1,715,371 |   |
|                                                 |   |                         |       |   |   |   |   |   |
| Determination of shares:                             |   |                         |       |   |   |   |   |   |
| Weighted-average common shares outstanding (Basic)   |   |                         | 45,138,069 |   |   |   | 36,068,625 |   |
| Assumed conversion of preferred stock                |   |                         | 1,767,500  |   |   |   | 36,000,000 |   |
| Weighted-average common shares outstanding (Diluted) |   |                         | 46,905,569 |   |   |   | 72,068,625 |   |
|                                                 |   |                         |       |   |   |   |   |   |
| Basic earnings per share                             |   | $                            | 0.05       |   |   | $ | 0.05 |   |
| Diluted earnings per share                           |   | $                            | 0.05       |   |   | $ | 0.02 |   |

----

|                                                 |   | Nine months ended |       |
|------------------------------------------------------|--------|-----------------------------|------------|
|                                                 |   | March 31,              |       |
|                                                 |   | 2011                        |       |   | 2010 |   |
| Net income for the period                            |   | $                           | 6,768,207  |   |   | $ | 4,055,269 |   |
|                                                 |   |                        |       |   |   |   |   |   |
| Determination of shares:                             |   |                        |       |   |   |   |   |   |
| Weighted-average common shares outstanding (Basic)   |   |                        | 40,371,280 |   |   |   | 25,456,776 |   |
| Assumed conversion of preferred stock                |   |                        | 22,433,654 |   |   |   | 36,285,186 |   |
| Weighted-average common shares outstanding (Diluted) |   |                        | 62,804,934 |   |   |   | 61,741,962 |   |
|                                                 |   |                        |       |   |   |   |   |   |
| Basic earnings per share                             |   | $                           | 0.17       |   |   | $ | 0.16 |   |
| Diluted earnings per share                           |   | $                           | 0.11       |   |   | $ | 0.07 |   |

| 13. | COMMITMENTS AND CONTINGENCIES |
|-----|-------------------------------|

| 14. | SEGMENT REPORTING AND GEOGRAPHICAL INFORMATION |
|-----|------------------------------------------------|

|   | (a)  | Segment information |
|--------|-----------|---------------------|

----

|   | (b) | Geographical information |
|--------|-----|--------------------------|

| Market      |   | % ofrevenuecontribution |   |
|-------------|--------|------------------------------|--------|
| Japan       |   |                         | 38     | % |
| UK          |   |                         | 36     | % |
| Netherlands |   |                         | 17     | % |
| Others      |   |                         | 9      | % |
| Total       |   |                         | 100    | % |

| Market      |   | % ofrevenuecontribution |   |
|-------------|--------|------------------------------|--------|
| Japan       |   |                         | 39     | % |
| UK          |   |                         | 35     | % |
| Netherlands |   |                         | 16     | % |
| Others      |   |                         | 10     | % |
| Total       |   |                         | 100    | % |

| 15. | CONCENTRATION AND RISK |
|-----|------------------------|

|   | (a)  | Major customers |
|--------|-----------|-----------------|

| Customers  |   | Revenues |      |   |   |   |   | AccountsReceivable |   |
|------------|--------|----------|-----------|--------|--------|--------|--------|--------------------|--------|
|       |   |     |      |   |   |   |   |               |   |
| Customer A |   | $        | 1,628,405 |   |   |   | 20     | %                  |   | $ | 1,224,432 |   |
| Customer B |   |     | 772,912   |   |   |   | 10     | %                  |   |   | 729,347 |   |
| Customer C |   |     | 780,457   |   |   |   | 10     | %                  |   |   | 94,151 |   |
| Customer D |   |     | 487,828   |   |   |   | 6      | %                  |   |   | 632,708 |   |
| Customer E |   |     | 466,721   |   |   |   | 6      | %                  |   |   | 161,974 |   |
| Total:     |   | $        | 4,136,323 |   |   |   | 52     | %                  |   |   | 2,842,612 |   |

----

| Customers  |   | Revenues |       |   |   |   |   | AccountsReceivable |   |
|------------|--------|----------|------------|--------|--------|--------|--------|--------------------|--------|
|       |   |     |       |   |   |   |   |               |   |
| Customer A |   | $        | 3,879,590  |   |   |   | 17     | %                  |   | $ | 1,224,432 |   |
| Customer B |   |     | 2,350,929  |   |   |   | 10     | %                  |   |   | 729,347 |   |
| Customer C |   |     | 1,970,524  |   |   |   | 8      | %                  |   |   | 94,151 |   |
| Customer D |   |     | 1,553,014  |   |   |   | 7      | %                  |   |   | 632,708 |   |
| Customer E |   |     | 1,406,641  |   |   |   | 6      | %                  |   |   | 161,974 |   |
| Total:     |   | $        | 11,160,698 |   |   |   | 48     | %                  |   | $ | 2,842,612 |   |

| Customers  |   | Revenues |      |   |   |   |   | AccountsReceivable |   |
|------------|--------|----------|-----------|--------|--------|--------|--------|--------------------|--------|
|       |   |     |      |   |   |   |   |               |   |
| Customer A |   | $        | 3,771,035 |   |   |   | 17     | %                  |   | $ | 602,020 |   |
| Customer B |   |     | 1,851,691 |   |   |   | 8      | %                  |   |   | 152,811 |   |
| Customer C |   |     | 1,691,565 |   |   |   | 8      | %                  |   |   | 370,555 |   |
| Customer D |   |     | 1,436,536 |   |   |   | 6      | %                  |   |   | 375,930 |   |
|       |   |     |      |   |   |   |   |               |   |   |   |   |
| Total:     |   | $        | 8,750,827 |   |   |   | 39     | %                  |   | $ | 1,501,316 |   |

|   | (b) | Credit risk |
|--------|-----|-------------|

----

| ITEM 2 | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. |
|--------|----------------------------------------------------------------------------------------------|

|   | 1. | Soil is tested for chemical residue that may have harmful effect on our products. |
|--------|----|-----------------------------------------------------------------------------------|

|   | 2. | Our fertilizing and debugging methods are environmentally friendly, and we do not use chemical pesticides. |
|--------|----|------------------------------------------------------------------------------------------------------------|

|   | 3. | Raw ginger is randomly selected to test for any chemical residue. |
|--------|----|-------------------------------------------------------------------|

|   | 4. | Raw ginger is randomly selected to check for inappropriately sized or rotten ginger. |
|--------|----|--------------------------------------------------------------------------------------|

|   | 5. | Half-finished product is randomly selected to ensure that their size and weight will meet customer requirements. |
|--------|----|------------------------------------------------------------------------------------------------------------------|

|   | 6. | Finished product is randomly selected for quality and quantity testing. |
|--------|----|-------------------------------------------------------------------------|

|   | 7. | Electronic weights are tested to ensure they are working properly. |
|--------|----|--------------------------------------------------------------------|

|   | 8. | Finished product is randomly selected to ensure that their weight will meet customer requirements. |
|--------|----|----------------------------------------------------------------------------------------------------|

----

| Peeled Ginger      | Diced Garlic       |
|--------------------|--------------------|
|               |               |
| Diced Ginger       | Garlic Puree       |
|               |               |
| Ginger Puree Cubes | Garlic Puree Cubes |
|               |               |
| Ginger Puree       | Diced Onion        |
|               |               |
| Strawberry         | Peeled Garlic      |

| Customer      |   | Revenues |       |   | %      |   |
|---------------|--------|----------|------------|--------|--------|--------|
| 1. Customer A |   | US$      | 3,879,590  |   |   |   | 17 | % |
| 2. Customer B |   | US$      | 2,350,929  |   |   |   | 10 | % |
| 3. Customer C |   | US$      | 1,970,524  |   |   |   | 8 | % |
| 4. Customer D |   | US$      | 1,553,014  |   |   |   | 7 | % |
| 5. Customer E |   | US$      | 1,406,641  |   |   |   | 6 | % |
| Total:        |   | US$      | 11,160,698 |   |   |   | 48 | % |

----

| Market      |   | % of revenue contribution |   |
|-------------|--------|------------------------------------------|--------|
| Japan       |   |                                     | 38     | % |
| UK          |   |                                     | 36     | % |
| Netherlands |   |                                     | 17     | % |
| Others      |   |                                     | 9      | % |
| Total       |   |                                     | 100    | % |

|   | · | Increasing market share by leasing additional farmland. |
|--------|--------|---------------------------------------------------------|

|   | · | Continue to maintain our reputation and customer satisfaction by meeting applicable food safety standards. |
|--------|--------|------------------------------------------------------------------------------------------------------------|

|   | · | Increasing production capacity to satisfy increasing customer demand. |
|--------|--------|-----------------------------------------------------------------------|

|   | · | Working with our customers to meet end user demand for new products and forms of our ginger and frozen vegetables. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------|

|   | · | Continuing to maximize operating efficiencies through the utilization of our existing infrastructure and low labor and operating costs. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | · | There is growing demand for ginger in the agricultural industry. Ginger is used in cooking as both an ingredient and main course; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------|

|   | · | We are able to meet strict export requirements that smaller local producers are unable to meet; |
|--------|--------|-------------------------------------------------------------------------------------------------|

|   | · | We believe that we have significantly more farmland than most of our competitors; |
|--------|--------|-----------------------------------------------------------------------------------|

|   | · | Our customers are willing to pay a premium for our high quality products since we comply with the most stringent international safety and quality standards that many of our smaller competitors are currently unable to meet; and |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Local governments have tightened the export license renewal procedures and have toughened inspection, as a result of which certain exporters have terminated operations. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                               |   | For the three months endedMarch 31, |      |
|------------------------------------|--------|--------------------------------------------------------------|-----------|
|                               |   | 2011                                                         |      |   | 2010 |   |
| Sales:                             |   | $                                                            | 7,947,540 |   |   | $ | 5,283,909 |   |
| Cost of Goods Sold:                |   | $                                                            | 4,625,866 |   |   | $ | 3,118,228 |   |
| Operating Expenses:                |   | $                                                            | 1,018,486 |   |   | $ | 439,008 |   |
| Other Income (Loss):               |   | $                                                            | 8,678     |   |   | $ | (11,302 | ) |
| Income from Operations:            |   | $                                                            | 2,311,866 |   |   | $ | 1,715,371 |   |
| Income Taxes:                      |   | $                                                            | -         |   |   | $ | - |   |
| Net Income:                        |   | $                                                            | 2,311,866 |   |   | $ | 1,715,371 |   |
| Other Comprehensive Income (Loss): |   | $                                                            | 222,610   |   |   | $ | 21,629 |   |
| Total Comprehensive Income:        |   | $                                                            | 2,534,476 |   |   | $ | 1,737,000 |   |

----

|                               |   | For the nine months endedMarch 31, |       |
|------------------------------------|--------|-------------------------------------------------------------|------------|
|                               |   | 2011                                                        |       |   | 2010 |   |
| Sales:                             |   | $                                                           | 23,419,274 |   |   | $ | 15,074,376 |   |
| Cost of Goods Sold:                |   | $                                                           | 13,598,988 |   |   | $ | 9,873,399 |   |
| Operating Expenses:                |   | $                                                           | 2,912,920  |   |   | $ | 1,122,302 |   |
| Other Loss:                        |   | $                                                           | (139,159   | ) |   | $ | (23,406 | ) |
| Income from Operations:            |   | $                                                           | 6,768,207  |   |   | $ | 4,055,269 |   |
| Income Taxes:                      |   | $                                                           | -          |   |   | $ | - |   |
| Net Income:                        |   | $                                                           | 6,768,207  |   |   | $ | 4,055,269 |   |
| Other Comprehensive Income (Loss): |   | $                                                           | 665,899    |   |   | $ | (19,731 | ) |
| Total Comprehensive Income:        |   | $                                                           | 7,434,106  |   |   | $ | 4,035,538 |   |

----

----

| ITEM 3 | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
|--------|------------------------------------------------------------|

| ITEM 4 | CONTROLS AND PROCEDURES |
|--------|-------------------------|

----

| ITEM 1 | LEGAL PROCEEDINGS |
|--------|-------------------|

| ITEM 1A. | RISK FACTORS |
|----------|--------------|

| ITEM 2. | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS |
|---------|-------------------------------------------------------------|

| ITEM 3. | DEFAULT UPON SENIOR SECURITIES |
|---------|--------------------------------|

| ITEM 4. | REMOVED AND RESERVED |
|---------|----------------------|

| ITEM 5. | OTHER INFORMATION |
|---------|-------------------|

| ITEM 6. | EXHIBITS |
|---------|----------|

| ExhibitNo. |   | Description                                                                                                                        |
|------------|--------|------------------------------------------------------------------------------------------------------------------------------------|
| 10.1       |   | Addendum to Series 2009 Secured Note Due March 8, 2011(1)                                                                          |
| 10.2       |   | Translation of Land Lease Agreement, dated March 31, 2011(2)                                                                  |
| 31.1       |   | Certification of Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                |
| 31.2       |   | Certification of Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                |
| 32.1       |   | Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |

| (1) | Incorporated by reference to our Current Report on Form 8-K dated March 11, 2011. |
|-----|-----------------------------------------------------------------------------------|

| (2) | Incorporated by reference to our Current Report on Form 8-K dated April 5, 2011. |
|-----|----------------------------------------------------------------------------------|

----

|               | MAN SHING AGRICULTURAL HOLDINGS, INC.        |
|--------------------|----------------------------------------------|
|               |                                         |
| Date: May 10, 2011 | By:                                          | /s/ Shili Liu |
|               | Name: Shili Liu                              |
|               | Title: Chief Executive Officer               |
|               | (Principal Executive Officer)                |
|               |                                         |
| Date: May 10, 2011 | By:                                          | /s/ Kenny Chow |
|               | Name: Kenny Chow                             |
|               | Title: Chief Financial Officer               |
|               | (Principal Financial and Accounting Officer) |

----

| ExhibitNo. |   | Description                                                                                                                        |
|------------|--------|------------------------------------------------------------------------------------------------------------------------------------|
| 10.1       |   | Addendum to Series 2009 Secured Note Due March 8, 2011(1)                                                                          |
| 10.2       |   | Translation of Land Lease Agreement, dated March 31, 2011(2)                                                                       |
| 31.1       |   | Certification of Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                |
| 31.2       |   | Certification of Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                |
| 32.1       |   | Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |

| (1) | Incorporated by reference to our Current Report on Form 8-K dated March 11, 2011. |
|-----|-----------------------------------------------------------------------------------|

| (2) | Incorporated by reference to our Current Report on Form 8-K dated April 5, 2011. |
|-----|----------------------------------------------------------------------------------|

----