**SUBSIDIARIES      OF THE REGISTRANT**

| Name                of Subsidiary                                                                                                                                                                                                                                                                                                                                                                                               | Jurisdiction                of Incorporation or                Organization |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |
| Minghua                Group International Holding (Hong Kong) Ltd. (Sold                to two individuals named HAN Lianzhong and NIU Ruicheng at a price                of 1                HK$ on September 28, 2006)                                                                                                                                                                                                  | Hong                Kong                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |
| Minghua                Acquisition Corp.                                                                                                                                                                                                                                                                                                                                                                                        | Delaware                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |
| Shenzhen                Minghua Environmental Protection Vehicles Co. Ltd. (Shenzhen                Minghua Environmental Protection Vehicles Co. Ltd. being as the subsidiary                of Minghua Group International Holding (Hong Kong) Ltd. were transferred                at the same time that Minghua Group International Holding (Hong Kong)                Ltd                sold on September 28, 2006,) | China                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |
| Ming                Hua Environmental Protection Science and Technology Ltd.(Sold                to two individuals named HAN Lianzhong and NIU Ruicheng at a price                of 1                HK$ on September 28, 2006)                                                                                                                                                                                               | Hong                Kong                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |
| Good                View Bus Manufacturing (Holding) Co. Ltd.                                                                                                                                                                                                                                                                                                                                                                   | Hong                Kong                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |
| Eagle                Bus Development Ltd.                                                                                                                                                                                                                                                                                                                                                                                       | Hong                Kong                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |
| Guangzhou                City View Bus Installation Co. Ltd.                                                                                                                                                                                                                                                                                                                                                                    | China                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |
| Euromax                International Investments Limited                                                                                                                                                                                                                                                                                                                                                                        | Hong                Kong                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |
| Beijing                China Cardinal Real Estate Consulting Co., Ltd                                                                                                                                                                                                                                                                                                                                                           | China                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |
| Top                Team holdings Limited                                                                                                                                                                                                                                                                                                                                                                                        | British                Virgin Islands                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |
| Asia                Key Group Limited(Asia                Key Group Limited being as the subsidiary of Minghua Group International                Holding (Hong Kong) Ltd. were transferred at the same time that Minghua                Group International Holding (Hong Kong) Ltd sold on September 28,                2006,)                                                                                                | British                Virgin Islands                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                        |

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