| Nevada                                                              |   | 20-1204606                             |
|---------------------------------------------------------------------|--------|----------------------------------------|
| (State      or other jurisdiction of incorporation or organization) |   | (IRS      Employer Identification No.) |

----

| PART      I - FINANCIAL INFORMATION |                                                                           |
|-------------------------------------|--------------------------------------------------------------------------------|
|                                |                                                                           |   |   |
|                                | ITEM      1 - FINANCIAL STATEMENTS                                             |   |
|                                |                                                                           |   |   |
|                                |                                                                           | Unaudited      Condensed Consolidated Statements of Operations for the three- and      nine-month periods ended September 30, 2008 | 3 |
|                                |                                                                           |   |   |
|                                |                                                                           | Condensed      Consolidated Balance Sheets as of December 31, 2007 and September 30,      2008 | 4 |
|                                |                                                                           |   |   |
|                                |                                                                           | Unaudited      Condensed Consolidated Statements of Cash Flows for the nine-month period      ended September 30,  2008 | 5 |
|                                |                                                                           |   |   |
|                                |                                                                           | Notes      to the Unaudited Condensed Consolidated Financial      Statements | 6 -      10 |
|                                |                                                                           |   |   |
|                                | ITEM      2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF      OPERATION   | 11 |
|                                |                                                                           |   |   |
|                                | ITEM      3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET      RISK  | 17 |
|                                |                                                                           |   |   |
|                                | ITEM      4 (A) - CONTROLS AND PROCEDURES                                      | 17 |
|                                |                                                                           |   |   |
|                                | ITEM      4 (A)T – INTERNAL CONTROL OVER FINANCIAL REPORTING             | 17 |
|                                |                                                                           |   |   |
| PART      II - OTHER INFORMATION    |                                                                           |
|                                |                                                                           |   |   |
|                                | ITEM      1 - LEGAL PROCEEDINGS                                                |  18 |
|                                |                                                                           |   |   |
|                                | ITEM      2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF      PROCEEDS |  18 |
|                                |                                                                           |   |   |
|                                | ITEM      3 - DEFAULTS UPON SENIOR SECURITIES                                  |  18 |
|                                |                                                                           |   |   |
|                                | ITEM      4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY    HOLDERS           |  18 |
|                                |                                                                           |   |   |
|                                | ITEM      5 - OTHER INFORMATION                                                |  18 |
|                                |                                                                           |   |   |
|                                | ITEM      6 - EXHIBITS AND REPORTS ON FORM 8-K                                 |  18 |
|                                |                                                                           |   |   |
|                                |                                                                           | SIGNATURES |  19 |

----

|                                                                         |     |   |   | Three      months ended September      30, |       |   | Nine      months ended September      30, |   |
|------------------------------------------------------------------------------|----------|--------|--------|-------------------------------------------------|------------|--------|------------------------------------------------|--------|
|                                                                         |     |   |   | 2008                                            |       |   | 2007                                           |   |   | 2008 |   |   |  2007 |   |
|                                                                         | Note     |   |   | US$                                             |       |   | US$                                            |   |   | US$ |   |   | US$ |   |
| Operating      revenue                                                       |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |
| Service      income                                                          |     |   |   |                                            | 107,552    |   |                                           |   | - |   |   |   | 464,919 |   |   |   | - |   |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Operating      expenses                                                      |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Subcontracting      charges                                                  |     |   |   |                                            | (20,932    | )      |                                           |   | - |   |   |   | (173,168 | ) |   |   | - |   |
| Staff      costs                                                             |     |   |   |                                            | (91,944    | )      |                                           |   | - |   |   |   | (247,557 | ) |   |   | - |   |
| Depreciation      of property, plant and equipment                           |     |   |   |                                            | (3,123     | )      |                                           |   | - |   |   |   | (9,397 | ) |   |   | - |   |
| Amortization      of intangible assets                                       |     |   |   |                                            | (55,299    | )      |                                           |   | - |   |   |   | (165,897 | ) |   |   | - |   |
| Other      general and administrative expenses                               |     |   |   |                                            | (182,885   | )      |                                           |   | (6,626 | ) |   |   | (500,535 | ) |   |   | (6,626 | ) |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Loss      from operations                                                    |     |   |   |                                            | (246,631   | )      |                                           |   | (6,626 | ) |   |   | (631,635 | ) |   |   | (6,626 | ) |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Interest      income                                                         |     |   |   |                                            | 932        |   |                                           |   | 889 |   |   |   | 2,080 |   |   |   | 889 |   |
| Subsidy      income                                                          |     |   |   |                                            | -          |   |                                           |   | - |   |   |   | 27,671 |   |   |   | - |   |
| Other      income                                                            |     |   |   |                                            | 439        |   |                                           |   | - |   |   |   | 918 |   |   |   | - |   |
| Gain      on disposal of partial interest in a subsidiary                    | 3        |   |   |                                            | -          |   |                                           |   | - |   |   |   | 259,837 |   |   |   | - |   |
| Gain      on disposal of interestin      a subsidiary                        | 4        |   |   |                                            | 658        |   |                                           |   | - |   |   |   | 658 |   |   |   | - |   |
| Amortization      of long-term loans from a related party                    | 6(b)(iv) |   |   |                                            | (13,282    | )      |                                           |   | - |   |   |   | (58,614 | ) |   |   | - |   |
| Loss      on partial settlement of long-term loans from a related      party | 6(b)(iv) |   |   |                                            | (5,854     | )      |                                           |   | - |   |   |   | (30,571 | ) |   |   | - |   |
| Share      of result of an associate                                         |     |   |   |                                            | (5,319     | )      |                                           |   | - |   |   |   | (8,511 | ) |   |   | - |   |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Loss      before income tax and minority interests                           |     |   |   |                                            | (269,057   | )      |                                           |   | (5,737 | ) |   |   | (438,167 | ) |   |   | (5,737 | ) |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Income      tax                                                              | 5        |   |   |                                            | -          |   |                                           |   | - |   |   |   | - |   |   |   | - |   |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Loss      before minority interests                                          |     |   |   |                                            | (269,057   | )      |                                           |   | (5,737 | ) |   |   | (438,167 | ) |   |   | (5,737 | ) |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Minority      interests                                                      |     |   |   |                                            | 23,460     |   |                                           |   | - |   |   |   | 81,827 |   |   |   |   |   |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Net      loss                                                                |     |   |   |                                            | (245,597   | )      |                                           |   | (5,737 | ) |   |   | (356,340 | ) |   |   | (5,737 | ) |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Other      comprehensive (loss) income                                       |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| -      Foreign currency translation                                          |     |   |   |                                            | (19,562    | )      |                                           |   | - |   |   |   | 95,331 |   |   |   | - |   |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Total      comprehensive loss                                                |     |   |   |                                            | (265,159   | )      |                                           |   | (5,737 | ) |   |   | (261,009 | ) |   |   | (5,737 | ) |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
|  Basic      loss per share of common stock (cents)                      |     |   |   |                                            | (0.45)     |   |                                           |   |        (0.01) |   |   |   | (0.69) |   |   |   |        (0.01) |   |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |
|  Weighted      average number of shares of common stock outstanding     |     |   |   |                                            | 54,253,958 |   |                                           |   | 49,825,834 |   |   |   | 51,935,635 |   |   |   | 49,825,834 |   |
|                                                                         |     |   |   |                                            |       |   |                                           |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                                                                                           |      |   | As      of              |      |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|--------|-------------------------|-----------|
|                                                                                                                                                                                                           |      |   | September      30, 2008 |      |   | December      31, 2007 |   |
| ASSETS                                                                                                                                                                                                         | Note      |   | US$                     |      |   | US$ |   |
|                                                                                                                                                                                                           |      |   | (Unaudited)             |      |   |   |   |
| Current      assets                                                                                                                                                                                            |      |   |                    |      |   |   |   |
| Trade      receivables from third parties                                                                                                                                                                      |      |   |                    | 16,759    |   |   |   | 28,266 |   |
| Trade      receivables from related parties                                                                                                                                                                    | 6(b)(i)   |   |                    | 76,259    |   |   |   | 36,239 |   |
| Prepayments      and deposits                                                                                                                                                                                  |      |   |                    | 539,117   |   |   |   | 170,093 |   |
| Other      debtors                                                                                                                                                                                             |      |   |                    | 247,140   |   |   |   | 16,960 |   |
| Amounts      due from related parties                                                                                                                                                                          | 6(b)(ii)  |   |                    | 43,478    |   |   |   | 10,084 |   |
| Loan      receivable from a minority shareholder                                                                                                                                                               |      |   |                    | -         |   |   |   | 274,110 |   |
| Income      tax recoverable                                                                                                                                                                                    |      |   |                    | -         |   |   |   | 3,567 |   |
| Inventories      (smartcards)                                                                                                                                                                                  |      |   |                    | 59,098    |   |   |   | 12,604 |   |
| Bank      deposit, collateralized                                                                                                                                                                              | 8         |   |                    | 130,435   |   |   |   | - |   |
| Cash      and bank balances                                                                                                                                                                                    |      |   |                    | 390,364   |   |   |   | 1,373,085 |   |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| Total      current assets                                                                                                                                                                                      |      |   |                    | 1,502,650 |   |   |   | 1,925,008 |   |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| Property,      plant and equipment, net                                                                                                                                                                        |      |   |                    | 54,493    |   |   |   | 52,143 |   |
| Intangible      assets, net                                                                                                                                                                                    |      |   |                    | 1,787,955 |   |   |   | 1,855,881 |   |
| Interest      in an associate                                                                                                                                                                                  | 7         |   |                    | 12,735    |   |   |   | - |   |
| Prepayment      for a long-term investment                                                                                                                                                                     | 7         |   |                    | 50,725    |   |   |   | 20,548 |   |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| Total      assets                                                                                                                                                                                              |      |   |                    | 3,408,558 |   |   |   | 3,853,580 |   |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY (DEFICIT)                                                                                                                                                            |      |   |                    |      |   |   |   |   |   |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| Current      liabilities                                                                                                                                                                                       |      |   |                    |      |   |   |   |   |   |
| Trade      payables                                                                                                                                                                                            |      |   |                    | 19,089    |   |   |   | 11,135 |   |
| Accrued      charges and other payables                                                                                                                                                                        |      |   |                    | 442,347   |   |   |   | 575,125 |   |
| Amounts      due to related parties                                                                                                                                                                            | 6(b)(iii) |   |                    | 19,177    |   |   |   | 1,423,636 |   |
| Temporary      receipts                                                                                                                                                                                        |      |   |                    | 90,491    |   |   |   | 508,318 |   |
| Short-term      bank loan                                                                                                                                                                                      | 8         |   |                    | 123,188   |   |   |   | - |   |
| Income      tax payable                                                                                                                                                                                        |      |   |                    | 1,449     |   |   |   | 4,536 |   |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| Total      current liabilities                                                                                                                                                                                 |      |   |                    | 695,741   |   |   |   | 2,522,750 |   |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| Long-term      loans from a related party                                                                                                                                                                      | 6(b)(iv)  |   |                    | 697,254   |   |   |   | 883,562 |   |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| Commitments      and contingencies                                                                                                                                                                             |      |   |                    |      |   |   |   |   |   |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| Minority      interests                                                                                                                                                                                        |      |   |                    | 340,563   |   |   |   | 472,005 |   |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| Stockholders'      equity (deficit)                                                                                                                                                                            |      |   |                    |      |   |   |   |   |   |
| Common      stock, par value US$0.001 per share; authorized 300,000,000 shares; issued      and outstanding 64,607,460 shares as of September 30, 2008 and 50,000,000      shares as of December 31, 2007 | 9         |   |                    | 64,607    |   |   |   | 50,000 |   |
| Additional      paid in capital                                                                                                                                                                                | 9         |   |                    | 1,946,139 |   |   |   | - |   |
| Dedicated      reserve                                                                                                                                                                                         |      |   |                    | 319       |   |   |   | 319 |   |
| Accumulated      losses                                                                                                                                                                                        |      |   |                    | (431,396  | ) |   |   | (75,056 | ) |
| Accumulated      other comprehensive income                                                                                                                                                                    |      |   |                    | 95,331    |   |   |   | - |   |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| Total      stockholders’ equity (deficit)                                                                                                                                                                |      |   |                    | 1,675,000 |   |   |   | (24,737 | ) |
|                                                                                                                                                                                                           |      |   |                    |      |   |   |   |   |   |
| Total      liabilities and stockholders' equity (deficit)                                                                                                                                                      |      |   |                    | 3,408,558 |   |   |   | 3,853,580 |   |

----

|                                                                                                   |   | Nine      months ended September 30, |       |
|--------------------------------------------------------------------------------------------------------|--------|--------------------------------------|------------|
|                                                                                                   |   | 2008                                 |       |   |  2007 |   |
|                                                                                                   |   | US$                                  |       |   |  US$ |   |
| Cash      flows from operating activities:                                                             |   |                                 |       |   |   |   |
| Net      loss                                                                                          |   |                                 | (356,340   | ) |   |   | (5,737 | ) |
|                                                                                                   |   |                                 |       |   |   |   |   |   |
| Adjustments      to reconcile net loss to net cash used in operating      activities:                  |   |                                 |       |   |   |   |   |   |
| Depreciation      of property, plant and equipment                                                     |   |                                 | 9,397      |   |   |   | - |   |
| Amortization      of intangible assets                                                                 |   |                                 | 165,897    |   |   |   | - |   |
| Interest      income                                                                                   |   |                                 | (2,080     | ) |   |   | (889 | ) |
| Gain      on disposal of partial interest in a subsidiary                                              |   |                                 | (259,837   | ) |   |   | - |   |
| Gain      on disposal of interest in a subsidiary                                                      |   |                                 | (658       | ) |   |   | - |   |
| Amortization      of long-term loans from a related party                                              |   |                                 | 58,614     |   |   |   | - |   |
| Loss      on partial settlement of long-term loans from a related      party                           |   |                                 | 30,571     |   |   |   | - |   |
| Minority      interests                                                                                |   |                                 | (81,827    | ) |   |   | - |   |
| Share      of result of an associate                                                                   |   |                                 | 8,511      |   |   |   | - |   |
| Exchange      difference                                                                               |   |                                 | 10,479     |   |   |   | - |   |
| Changes      in working capital:                                                                       |   |                                 |       |   |   |   |   |   |
| Trade      receivables                                                                                 |   |                                 | (106,266   | ) |   |   | - |   |
| Inventories                                                                                            |   |                                 | (45,764    | ) |   |   | - |   |
| Prepayments      and deposits                                                                          |   |                                 | 240,776    |   |   |   | - |   |
| Other      debtors                                                                                     |   |                                 | (229,196   | ) |   |   | - |   |
| Trade      payables                                                                                    |   |                                 | 7,308      |   |   |   | - |   |
| Accrued      charges and other payables                                                                |   |                                 | (163,619   | ) |   |   | - |   |
| Temporary      receipts                                                                                |   |                                 | (36,333    | ) |   |   | - |   |
| Income      tax recoverable/payable                                                                    |   |                                 | 424        |   |   |   | - |   |
|                                                                                                   |   |                                 |       |   |   |   |   |   |
| Net      cash used in operating activities                                                             |   |                                 | (749,943   | ) |   |   | (6,626 | ) |
|                                                                                                   |   |                                 |       |   |   |   |   |   |
| Cash      flows from investing activities:                                                             |   |                                 |       |   |   |   |   |   |
| Interest      income                                                                                   |   |                                 | 2,080      |   |   |   | 889 |   |
| Prepayment      for a long-term investment                                                             |   |                                 | (50,725    | ) |   |   | - |   |
| Payments      for purchase of property, plant and equipment                                            |   |                                 | (9,268     | ) |   |   | - |   |
| Net      advances (to) from related parties                                                            |   |                                 | (32,316    | ) |   |   | 37,681 |   |
| Proceeds      on disposal of a subsidiary                                                              |   |                                 | 157,479    |   |   |   | - |   |
| Increase      in bank deposit, collateralized                                                          |   |                                 | (130,435   | ) |   |   | - |   |
|                                                                                                   |   |                                 |       |   |   |   |   |   |
| Net      cash (used in) from investing activities                                                      |   |                                 | (63,185    | ) |   |   | 38,570 |   |
|                                                                                                   |   |                                 |       |   |   |   |   |   |
| Cash      flows from financing activities:                                                             |   |                                 |       |   |   |   |   |   |
| Issue      of share capital                                                                            |   |                                 | -          |   |   |   | *      - |   |
| New      short-term bank loan                                                                          |   |                                 | 123,188    |   |   |   | - |   |
| Repayments      to related parties                                                                     |   |                                 | (44,787    | ) |   |   | - |   |
| Settlement      of long-term loans from a related party                                                |   |                                 | (326,714   | ) |   |   | - |   |
|                                                                                                   |   |                                 |       |   |   |   |   |   |
| Net      cash used in financing activities                                                             |   |                                 | (248,313   | ) |   |   | - |   |
|                                                                                                   |   |                                 |       |   |   |   |   |   |
| Net      decrease in cash and cash equivalents                                                         |   |                                 | (1,061,441 | ) |   |   | 31,944 |   |
|                                                                                                   |   |                                 |       |   |   |   |   |   |
| Cash      and cash equivalents at beginning of period                                                  |   |                                 | 1,373,085  |   |   |   | - |   |
|                                                                                                   |   |                                 |       |   |   |   |   |   |
| Effect      on exchange rate changes                                                                   |   |                                 | 78,720     |   |   |   | - |   |
|                                                                                                   |   |                                 |       |   |   |   |   |   |
| Cash      and cash equivalents at end of period,  represented      by cash and bank balances |   |                                 | 390,364    |   |   |   | 31,944 |   |
|                                                                                                   |   |                                 |       |   |   |   |   |   |
| Major  non-cash      transactions:                                                           |   |                                 |       |   |   |   |   |   |
| Shares      issued for consulting and professional services (see note      9)                          |   |                                 | 600,000    |   |   |   | - |   |
| Shares      issued for settlement of debt (see note      9)                                            |   |                                 | 1,360,746  |   |   |   | - |   |

| * | The      amount should be HK$1, which is the cash received from issuance of share      capital of Eastern Concept Development Limited on      incorporation.  The amount is presented as US$nil due to      rounding. |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

| (a)    | Name      and relationship of related parties                                                 |                                                                         |
|--------|-----------------------------------------------------------------------------------------------|------------------------------------------------------------------------------|
|   |                                                                                          |                                                                         |
|   | Name                                                                                          | Existing relationships with the      Company                                 |
|   | Benny      Lee                                                                                | The      sole director and a major shareholder of SPYX                       |
|   | Li      Xing Hao                                                                              | A      director of Wanzhi                                                    |
|   | Guangdong      Chigo Air Conditioning Company Limited (“Chigo”)                   | A      company in which Li Xing Hao has control and beneficial      interest |
|   | Tang      Jin Cheng                                                                           | A      director of JinCheng                                                  |
|   | Foshan      JinCheng Technology Company Limited                                               | A      minority shareholder of JinCheng                                      |
|   | Foshan      Shancheng JiaXun Technology Services Centre (“Shancheng      JiaXun”) | A      minority shareholder of JiaXun                                        |
|   | Foshan      KaiEr Information Technology Company Limited    (“KaiEr”)             | An      associate                                                            |

| (b) | Balances      with related parties |
|-----|------------------------------------|

|                                            |   | As      of                                                                                                                                                                                          |   |
|-------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                            |   | September      30, 2008                                                                                                                                                                             |   |   | December      31, 2007 |   |
|                                            |   |                                 US$ |   |   |                                 US$ |   |
|                                            |   |                      (Unaudited)                                                           |   |   |   |   |
|                                            |   |                                                                                                                                                                                                |   |   |   |   |
| Chigo                                           |   |                                                                                                                                                                                                | 41,603 |   |   |   | 24,496 |   |
| Foshan      JinCheng Technology Company Limited |   |                                                                                                                                                                                                | 34,656 |   |   |   | 11,743 |   |
|                                            |   |                                                                                                                                                                                                |   |   |   |   |   |   |
|                                            |   |                                                                                                                                                                                                | 76,259 |   |   |   | 36,239 |   |

|   | The      amounts due are unsecured, interest-free and have no fixed repayment      term |
|--------|-----------------------------------------------------------------------------------------|

|                  |   | As      of                                                                                                                                                                        |   |
|-----------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                  |   | September      30, 2008                                                                                                                                                           |   |   | December      31, 2007 |   |
|                  |   |                              US$ |   |   |                              US$ |   |
|                  |   |               (Unaudited)                                                                                   |   |   |   |   |
|                  |   |                                                                                                                                                                              |   |   |   |   |
| Shancheng      JiaXun |   |                                                                                                                                                                              | -      |   |   |   | 5,975 |   |
| Tang      Jin Cheng   |   |                                                                                                                                                                              | 14,493 |   |   |   | 4,109 |   |
| KaiEr                 |   |                                                                                                                                                                              | 28,985 |   |   |   | - |   |
|                  |   |                                                                                                                                                                              |   |   |   |   |   |   |
|                  |   |                                                                                                                                                                              | 43,478 |   |   |   | 10,084 |   |

|   | The      amounts due are unsecured, interest-free and have no fixed repayment      term. |
|--------|------------------------------------------------------------------------------------------|

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|             |   |  As      of                                                                                                                                                            |   |
|------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|             |   | September      30, 2008                                                                                                                                                     |   |   | December      31, 2007 |   |
|             |   |                             US$ |   |   |                            US$ |   |
|             |   |                 (Unaudited)                                                                 |   |   |   |   |
|             |   |                                                                                                                                                                        |   |   |   |   |
| Chigo            |   |                                                                                                                                                                        | 3,653  |   |   |   | 3,453 |   |
| Benny      Lee   |   |                                                                                                                                                                        | -      |   |   |   | 1,360,746 |   |
| Li      Xing Hao |   |                                                                                                                                                                        | 15,524 |   |   |   | 59,437 |   |
|             |   |                                                                                                                                                                        |   |   |   |   |   |   |
|             |   |                                                                                                                                                                        | 19,177 |   |   |   | 1,423,636 |   |

|   | The      amounts due are unsecured, interest-free and have no fixed repayment      term. |
|--------|------------------------------------------------------------------------------------------|

|                                               |   | As      of                                                                                                                                                                              |     |
|----------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
|                                               |   | September      30, 2008                                                                                                                                                                 |     |   | December      31, 2007 |   |
|                                               |   |                               US$ |     |   |                        US$ |   |
|                                               |   |                   (Unaudited)                                                                 |     |   |   |   |
|                                               |   |                                                                                                                                                                                    |     |   |   |   |
| At      beginning of period                        |   |                                                                                                                                                                                    | 883,562  |   |   |   | - |   |
| Exchange      realignment                          |   |                                                                                                                                                                                    | 51,221   |   |   |   | - |   |
| Additions      through acquisition of subsidiaries |   |                                                                                                                                                                                    | -        |   |   |   | 883,562 |   |
| Amortization                                       |   |                                                                                                                                                                                    | 58,614   |   |   |   | - |   |
| Repayments                                         |   |                                                                                                                                                                                    | (296,143 | ) |   |   | - |   |
|                                               |   |                                                                                                                                                                                    |     |   |   |   |   |   |
| At      balance sheet date                         |   |                                                                                                                                                                                    | 697,254  |   |   |   | 883,562 |   |

|   | The      loans from Li Xing Hao, a director of Wanzhi, are unsecured, interest-free      and repayable within two years from the date of advances, i.e. Septemter      2009.  The loans were stated at fair value at inception,      calculated by using the discount rate of 7.56% per annum, and are      subsequently stated at amortizedcost. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | During      the three-month and the nine-month period ended September 30, 2008, the      Company paid US$87,725 and US$326,714, respectively, for partial      settlement of the loans with carrying amounts of US$81,871 and US$296,143,      resulted in a loss of US$5,854 and US$30,571 as recorded in the condensed      consolidated statements of operations for the three-month period and the      nine-month period ended September 30,2008. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | Summary      of related party transactions |
|-----|--------------------------------------------|

|                                                                   |   |      Three      month ended September 30, 2008                                                                                                                                                                                                                                                                                                                                                     |   |   |  Nine      month ended September 30, 2008                                                                                                                                                                                                                                                                                                                                    |   |
|------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                   |   |                                                                     US$ |   |   |                                                              US$ |   |
|                                                                   |   |                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |                                                                                                                                                                                                                                                                                                                                                                              |   |
| Service      income from Chigo                                         |   |                                                                                                                                                                                                                                                                                                                                                                                                                        | 35,003 |   |                                                                                                                                                                                                                                                                                                                                                                              |   | 81,502 |   |
| Service      income from Foshan JinCheng Technology Company    Limited |   |                                                                                                                                                                                                                                                                                                                                                                                                                        | 31,718 |   |                                                                                                                                                                                                                                                                                                                                                                              |   | 40,365 |   |

|   | In      April 2008, JinCheng acquired a 30% equity interest in KaiEr at a      consideration of US$18,362. In addition, during the nine-month period      ended September 30, 2008, JinCheng paid US$50,725 for the purpose of      acquiring a further 21% equity interest in KaiEr, which has not yet      been completed |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (In US$ thousands except per      share data)                          | Three-month      Period Ended |    |   | Nine-month      Period Ended |   |
|------------------------------------------------------------------------|-------------------------------|---------|--------|------------------------------|--------|
|                                                                   | September      30, 2008       |    |   | September      30, 2008      |   |
|                                                                   | 2008                          |    |   | 2007                         |   |   | 2008 |   |   | 2007 |   |
| Operating      revenues                                                |                          |    |   |                         |   |   |   |   |   |   |   |
|     Service      Income                            | 107                           |    |   | –                      |   |   |   | 465 |   |   |   | – |   |
|                                                                   |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
| Operating      expenses                                                |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
|     Subcontracting      charges                    | (21                           | )       |   | –                      |   |   |   | (173 | ) |   |   | – |   |
|     Staff      costs                               | (92                           | )       |   | –                      |   |   |   | (248 | ) |   |   | – |   |
|     Depreciation      expenses                     | (3                            | )       |   | ­                       |   |   |   | (9 | ) |   |   | – |   |
|     Amortization      of intangible assets         | (55                           | )       |   | ­                       |   |   |   | (166 | ) |   |   | – |   |
|     Other      general and administrative expenses | (183                          | )       |   | (7                           | )      |   |   | (500 | ) |   |   | (7 | ) |
| Total      Operating expenses                                          | (354                          | )       |   | (7                           | )      |   |   | (1,096 | ) |   |   | (7 | ) |
|                                                                   |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
| Loss      from operations                                              | (247                          | )       |   | (7                           | )      |   |   | (631 | ) |   |   | (7 | ) |
|                                                                   |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
| Non-operating      income                                              |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
| Interest      income                                                   | 1                             |    |   | 1                            |   |   |   | 2 |   |   |   | 1 |   |
|                                                                   |                          |    |   |                         |   |   |   |   |   |   |   |   |
| Other      (expense) income                                            | (23                           | )       |   | –                      |   |   |   | 191 |   |   |   | – |   |
|                                                                   |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
|                                                                   |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
| Loss      before income tax and minority interests                     | (269                          | )       |   | (6                           | )      |   |   | (438 | ) |   |   | (6 | ) |
|     Income      tax expense                        | –                       |    |   | –                      |   |   |   | – |   |   |   | – |   |
|                                                                   |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
| Loss      before minority interests                                    | (269                          | )       |   | (6                           | )      |   |   | (438 | ) |   |   | (6 | ) |
|     Minority      interests                        | 23                            |    |   | –                      |   |   |   | 82 |   |   |   | – |   |
|                                                                   |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
| Net      Loss                                                          | (246                          | )       |   | (6                           | )      |   |   | (356 | ) |   |   | (6 | ) |
| Other comprehensive      income                                        |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
| Foreign currency      translation                                 | (19                           | )  |   |  –                |   |   |   |  95 |   |   |   |  – |   |
| Total      comprehensive loss                                          | (265                          | )       |   | (6                           | )      |   |   | (261 | ) |   |   | (6 | ) |
|                                                                   |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
|                                                                   |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
| Basic      loss per share of                                           |                          |    |   |                         |   |   |   |   |   |   |   |   |   |
| Common      stock (cents)                                              | (0.45                         | )       |   | (0.01)                       |   |   |   | (0.69) |   |   |        (0.01) |   |

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| 31     | Certification      of the Chief Executive Officer and Chief Financial Officer Pursuant to      Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of      1934                        |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                               |
| 32     | Certification      of the Company's Chief Executive Officer and Chief Financial Officer      Pursuant to 18 U.S.C. SS. 1350 Adopted Pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002 |

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|                   |                                                              |               |
|------------------------|-------------------------------------------------------------------|--------------------|
| November      14, 2008 | Smartpay      Express, Inc.                                       |
|                   | By:                                                               | /s/      Benny Lee |
|                   | Benny      Lee                                                    |
|                   | Chairman,      Chief Executive Officer and Chief FinancialOfficer |

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