U.S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                  FORM 10-QSB/A

                                   (Mark One)

             [X] Quarterly report pursuant to section 13 or 15(d) of
              the Securities Exchange Act of 1934 For the quarterly
                         period ended December 31, 2001

            [ ] Transition report pursuant to section 13 or 15(d) of
             the Securities Exchange Act of 1934 for the transition
                         period from.........to.........

                        Commission file number 000-27543


                      Teda Technologies International Inc.
              (Exact name of small business issuer in its charter)


                    Nevada                                98-0204680
        (State or other jurisdiction of                  (IRS Employer
         Incorporation or organization)               Identification No.)

   Unit #10, 8980 Fraserwood Court, Burnaby, British Columbia, Canada, V5J 5H7
                    (Address of principal executive offices)

                                 (604) 438-3598
                           (Issuer's telephone number)


Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.   Yes  X     No
                                                                ---       ---

Number of shares outstanding of the issuer's classes of common equity, as of
December 31, 2001:

                  16,697,000 Shares of Common Stock (One Class)

             Transitional Small Business Disclosure Format: Yes        No X
                                                                ---      ---
<PAGE>


                                Table of Contents

--------------------------------------------------------------------------------


                                                                          Page #
PART I

Item 1.  Financial Statements.............................................. 3-20
Item 2.  Management's Discussion and Analysis or Plan of Operations........ 21

PART II

Item 1.  Legal Proceedings................................................. 27
Item 2.  Changes in Securities............................................. 27
Item 5   Other Items....................................................... 27
Item 6.  Exhibits and Reports on Form 8-K.................................. 27

Signatures................................................................. 28



                                       ii

<PAGE>


                         PART I - FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS

The unaudited financial statements of the Company for the three-month and
six-month periods ended December 31, 2001 and December 31, 2000 are appended
hereto. The financial statements reflect all adjustments which are, in the
opinion of management, necessary so as to ensure a fair statement of the results
for the interim periods presented.



                                       3
<PAGE>

                                MOEN AND COMPANY
                              CHARTERED ACCOUNTANTS

PO Box 10129
1400 IBM Tower                                        Telephone:   (604)662-8899
701 West Georgia Street                                     Fax:   (604)662-8809
Vancouver, BC   V7Y 1C6

--------------------------------------------------------------------------------


                     INDEPENDENT ACCOUNTANTS' REVIEW REPORT


Board of Directors and Stockholders
Teda Technologies International, Inc.
(A Nevada Corporation)

We have reviewed the accompanying Consolidated Balance Sheet of Teda
Technologies International, Inc. (A Nevada Corporation) as of December 31, 2001,
and the Consolidated Statement of Operations, Cash Flows and Changes in
Stockholders' Equity for the six month period then ended in accordance with
Statements on Standards for Accounting and Review Services issued by the
American Institute of Public Accountants. All information included in these
financial statements is the representation of the management of Teda
Technologies International, Inc.

A review consists principally of applying analytical procedures to financial
data and making inquiries of persons responsible for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with generally accepted auditing standards, the objective of which is the
expression of an opinion regarding the financial statements taken as a whole.
Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should
be made to the accompanying financial statements in order for them to be in
conformity with United States generally accepted accounting principles (GAAP).


                                                   "Moen and Company"


                                                   Chartered Accountants

Vancouver, British Columbia, Canada
February 8, 2002


                                       4
<PAGE>



                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                             (A Nevada Corporation)
                           Consolidated Balance Sheet
                                December 31, 2001
                            (Expressed in US Dollars)
                                   (Unaudited)
                 (With Comparative Figures at December 31, 2000)


                                                        2001           2000
                                                      ---------      --------

                                     Assets

Current Assets
  Cash and cash equivalents (Note 3)                  $ 444,940      $     --
  Prepaid expenses                                        7,732            --

                                                      ---------      --------

                                                        452,672            --
Investment in Teda Pioneer Technologies Co. Ltd.
 at equity (Notes 5)                                    317,172            --
Deferred costs                                            1,539            --
                                                      ---------      --------
                                                      $ 771,383      $     --
                                                      =========      ========

                      Liabilities and Shareholders' Equity

Current Liabilities

  Accounts payable                                    $  10,425      $  2,967
  Due to related parties (Note 4)                       175,870            --
                                                      ---------      --------
                                                        186,295         2,967
Minority interest (Note 6)                               55,124            --
Deferred Liability (Note 5)
  Deferred income                                        91,290            --
                                                      ---------      --------
                                                        332,709         2,967
                                                      ---------      --------
Shareholders' Equity

  Capital stock
    par value                                             1,670           100
    additional paid in capital                          490,025        36,861
  Retained earnings (deficit)                           (53,021)       (4,819)
                                                      ---------      --------
                                                        438,674        32,142
                                                      ---------      --------
                                                      $ 771,383      $     --
                                                      =========      ========


Approved on behalf of the board:

  "Jun Zhou"         , Director
---------------------

  "Peng Chen"        , Director
---------------------

  "Steve Dadson"     , Director
---------------------

  "Richard Wang"     , Director
---------------------

          See Accompanying Notes and Independent Accountant's Report.


                                       5
<PAGE>



<TABLE>
                                 TEDA TECHNOLOGIES INTERNATIONAL, INC.
                                        (A Nevada Corporation)
                                 Consolidated Statement of Operations
                                       (Expressed in US Dollars)
                                              (Unaudited)

<CAPTION>
                                     Cumulative
                                        From
                                     Inception
                                        Date
                                         of
                                      July 19,           Quarter Ended            Six Months Ended
                                      2000 to            December 31,               December 31,
                                      Dec. 31,     -----------------------  -------------------------
                                        2001          2001         2000          2001         2000
                                     ----------    ----------    ---------    ----------    ---------
<S>                                  <C>           <C>           <C>          <C>           <C>
Revenue
  Interest income                    $    2,822    $       --    $      --    $       --    $      --
                                     ----------    ----------    ---------    ----------    ---------

General and Administration Costs
  Bank charges and interest                 363           179          103           179          103
  Investor relations and
   investor communications                7,500         7,500           --         7,500           --
  Licences, dues                            603            --           --            --           --
  Office costs                            5,811         5,232          439         5,372          439
  Professional fees                      30,171        25,144        1,645        28,526        1,645
  Transfer agent and filing fees          1,370         1,370           --         1,370           --
  Travel and promotion                   10,025         1,890        2,632         1,890        2,632
                                     ----------    ----------    ---------    ----------    ---------
                                         55,843        41,315        4,819        44,837        4,819
                                     ----------    ----------    ---------    ----------    ---------
Net profit (loss) from operations       (53,021)      (41,315)      (4,819)      (44,837)      (4,819)
Provision for income taxes                   --            --           --            --           --
                                     ----------    ----------    ---------    ----------    ---------
Net profit (loss) for the period     $  (53,021)   $  (41,315)   $  (4,819)   $  (44,837)   $  (4,819)
                                     ==========    ==========    =========    ==========    =========

Basic and diluted earnings
 (loss) per common share             $    (0.00)   $    (0.00)   $   (0.00)   $       (0)   $   (0.00)
                                     ==========    ==========    =========    ==========    =========
Weighted average number of
 shares outstanding                  16,697,000    16,697,000    1,000,000    16,697,000    1,000,000
                                     ==========    ==========    =========    ==========    =========


                      See Accompanying Notes and Independent Accountant's Report.
</TABLE>


                                                  6
<PAGE>


<TABLE>
                                 TEDA TECHNOLOGIES INTERNATIONAL, INC.
                                        (A Nevada Corporation)
                                    Statements of Retained Earnings

                                       (Expressed in US Dollars)
                                              (Unaudited)

<CAPTION>
                                     Cumulative
                                        From
                                     Inception
                                        Date
                                         of
                                      July 19,           Quarter Ended            Six Months Ended
                                      2000 to            December 31,               December 31,
                                      Dec. 31,     -----------------------  -------------------------
                                        2001          2001         2000          2001         2000
                                     ----------    ----------    ---------    ----------    ---------
<S>                                  <C>           <C>           <C>          <C>           <C>


Profit (loss) for the period         $  (53,021)   $  (41,315)      (4,819)   $  (44,837)   $  (4,819)
Retained earnings (deficit),
 beginning of period                         --       (11,706)          --        (8,184)          --
                                     ----------    ----------    ---------    ----------    ---------
Retained earnings (deficit),
 end of period                       $  (53,021)   $  (53,021)   $  (4,819)   $  (53,021)   $  (4,819)
                                     ==========    ==========    =========    ==========    =========


                      See Accompanying Notes and Independent Accountant's Report.
</TABLE>



                                                  7
<PAGE>


<TABLE>
                                 TEDA TECHNOLOGIES INTERNATIONAL, INC.
                                        (A Nevada Corporation)
                                        Statement of Cash Flows
                                       (Expressed in US Dollars)
                                              (Unaudited)

<CAPTION>
                                     Cumulative
                                        From
                                     Inception
                                        Date
                                         of
                                      July 19,           Quarter Ended            Six Months Ended
                                      2000 to            December 31,               December 31,
                                      Dec. 31,     -----------------------  -------------------------
                                        2001          2001         2000          2001         2000
                                     ----------    ----------    ---------    ----------    ---------
<S>                                  <C>           <C>           <C>          <C>           <C>

Cash derived from (applied to)

  Operating activities
    Net profit (loss) for the
     period                          $  (53,021)   $  (41,315)   $  (4,819)   $  (44,837)   $  (4,819)
    Minority interest                        --            --           --            --           --
    Changes in non-cash working
     capital items
      Prepaid expenses                   (7,732)        5,000           --        (2,732)          --
      Accounts payable increase          10,425         7,086       (6,962)        2,558       (6,598)
                                     ----------    ----------    ---------    ----------    ---------
                                        (50,328)      (29,229)     (11,781)      (45,011)     (11,417)
                                     ----------    ----------    ---------    ----------    ---------
  Financing activities
    Capital stock                       491,695            --       13,464       506,335       13,464
    Minority interest in
     consolidated net assets             55,124            --           --        55,124           --
    Due to related parties              175,870        25,000           --       155,913           --
                                     ----------    ----------    ---------    ----------    ---------
                                        722,689        25,000       13,464       717,372       13,464
                                     ----------    ----------    ---------    ----------    ---------
  Investing activities
    Investment in Teda Pioneer
     Technologies Co., Ltd.            (225,882)           --           --      (225,882)          --
    Deferred costs                       (1,539)           --           --        (1,539)          --
                                     ----------    ----------    ---------    ----------    ---------
                                       (227,421)           --           --      (227,421)          --
                                     ----------    ----------    ---------    ----------    ---------
Cash and cash equivalents,
 increase (decrease) during
 the period                             444,940        (4,229)          --       444,940           --

Cash and cash equivalents,
 beginning of period                         --       449,169           --            --           --
                                     ----------    ----------    ---------    ----------    ---------
Cash and cash equivalents,
 end of period                       $  444,940    $  444,940    $      --    $  444,940    $      --
                                     ==========    ==========    =========    ==========    =========


                      See Accompanying Notes and Independent Accountant's Report.
</TABLE>


                                                  8
<PAGE>


<TABLE>
                                 TEDA TECHNOLOGIES INTERNATIONAL, INC.
                                        (A Nevada Corporation)
                                   Statement of Stockholders' Equity
                                           December 31, 2001
                                       (Expressed in US Dollars)
                                              (Unaudited)


a)   Authorized:
     100,000,000 common shares at par value of $0.0001

b)   Issued and outstanding common shares as at December 31, 2001, are as follows:



<CAPTION>
                                                                  Additional    Retained
                                Issued     Number of     Par       Paid-in      Earnings
                                 Date        Shares      Value     Capital      (Deficit)    Total
                              ----------   ----------   -------   ----------   ----------  ---------
<S>                           <C>           <C>         <C>       <C>          <C>         <C>
  Private placement           07/16/2001    1,000,000   $   100   $     200    $           $     300
  Expenses paid by related
   parties on behalf of the
   Company:                   07/01/2004                             23,197                   23,197
                              07/01/2005                             14,175                   14,175
                                           ----------   -------   ---------    ---------   ---------
  Balance                     07/01/2005    1,000,000       100      37,572                   37,672
  Share exchange              10/02/2005   15,697,000     1,570     452,453                  454,023
                                           ----------   -------   ---------    ---------   ---------
                                           16,697,000     1,670     490,025                  491,695
Net loss cumulative from inception date
 of July 19, 2000 to December 31, 2001                                            53,021)    (53,021)
                                           ----------   -------   ---------    ---------   ---------
  Balance December 31, 2001                16,697,000   $ 1,670    $490,025    $ (53,021)  $ 438,674
                                           ==========   =======   =========    =========   =========


                      See Accompanying Notes and Independent Accountant's Report.
</TABLE>


                                                  9
<PAGE>


                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                December 31, 2001
                                   (Unaudited)


Note 1.   ORGANIZATION AND NATURE OF BUSINESS

          The Company was incorporated under the laws of the State of Nevada on
          July 15, 1997, as Express Investments Associates, Inc. and on November
          21, 2000, changed its name to Teda Technologies International, Inc.

          Pursuant to the terms of the share exchange which was effective as of
          October 1, 2001, the Company acquired all of the issued and
          outstanding stock of the Teda Technologies Inc. ("TTC") in exchange
          for the issuance of 15,697,000 shares of its authorized but previously
          unissued shares of common stock, which shares were valued at $506,335
          for purposes of the acquisition. Detailed are as follows:

          Issuance of 15,697,000 common shares at par value
           of $0.0001 per share                                       $   1,570
          Stockholders' equity of Teda Technologies, Inc. at
               October 1, 2001                                          506,335
                                                                      ---------
          Additional paid in capital representing excess of
               net assets acquired over cost                          $ 504,765
                                                                      =========

          Teda Technologies Inc., thereby becomes a wholly owned subsidiary of
          Teda Technologies International, Inc. TTC is a Canadian company
          incorporated in the Province of British Columbia, Canada.

          The historical information of Teda Technologies Inc. that is the basis
          for the pro forma information at October 1, 2001, is as follows:

                                                           Teda
                                   Teda Technologies   Technologies    TianJin
Summary Balance Sheet              Inc. Consolidated       Inc.        WangFang
                                   -----------------   ------------    --------
  Assets
    Cash and cash equivalents          $ 449,169         $  96,212    $ 352,957
    Prepaid expenses                       7,732                --        7,732
                                       ---------         ---------    ---------
                                         456,901            96,212      360,689
    Investment in Teda Pioneer
      Technologies Co. Ltd.              288,721                --      288,721
    Deferred costs                         1,539                --        1,539
                                       ---------         ---------    ---------
                                       $ 747,161         $  96,212      650,949
                                       =========         =========    =========
  Liabilities
    Due to related parties             $ 122,863         $ 122,863    $      --
  Minority interest in
   consolidated net assets                55,124                --       55,124
  Deferred Liabilities
    Deferred income                       62,839                --       62,839
                                       ---------         ---------    ---------
                                         240,826           122,863      117,963
                                       ---------         ---------    ---------
  Stockholders' equity
    Capital stock
      - par value                          1,087
      - additional paid-in capital       529,298
                                       ---------
                                         530,385
    Retained earnings (Deficit)          (24,050)
                                       ---------         ---------    ---------
                                         506,335           (26,651)     532,986
                                       ---------         ---------    ---------
                                       $ 747,161         $  96,212    $ 650,949
                                       =========         =========    =========


                                       10
<PAGE>


                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                December 31, 2001
                                   (Unaudited)


Note 2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

          Principles of consolidation

          The accompanying consolidated financial statements include the
          accounts of the Company and its wholly-owned subsidiary, Teda
          Technologies Inc. All intercompany transactions and intercompany
          balances have been eliminated.

          Basis of presentation

          These financial statements have been prepared in accordance with
          Accounting Principles Generally Accepted in the United States
          ("USGAAP).

          Use of estimates

          The preparation of financial statements in conformity with USGAAP
          requires management to make estimates and assumptions that affect the
          reported amounts of assets and liabilities and disclosure of
          contingent assets and liabilities at the dates of the financial
          statements and the reported amounts of revenues and expenses during
          the reporting periods. Actual results could differ from those
          estimates.

          Cash and cash equivalents

          Cash and cash equivalents consist of cash on deposit and highly liquid
          short-term interest bearing securities with a maturity at the date of
          purchase of three months or less.

          Income Taxes

          Provisions for income taxes are based on taxes payable or refundable
          for the current year and deferred taxes on temporary differences
          between the amount of taxable income and pretax financial income and
          between the tax bases of assets and liabilities and their reported
          amounts in the financial statements. Deferred tax assets and
          liabilities are included in the financial statement at currently
          enacted income tax rates applicable to the period in which the
          deferred tax assets and liabilities are expected to be realized or
          settled as prescribed in FASB Statement No. 109, Accounting for Income
          Taxes. Up to December 31, 2001 deferred tax assets are reduced by a
          valuation reserve to nil due to uncertainty of applying tax losses
          brought forward. As changes in tax laws or rate are enacted, deferred
          tax assets and liabilities are adjusted through the provision for
          income taxes.

          Compensated absences

          Employees of the corporation are entitled to paid vacations, sick days
          and other time off depending on job classification, length of service
          and other factors. It is impractical to estimate the amount of
          compensation for future absences, and accordingly, no liability has
          been recorded in the accompanying financial statements. The
          corporation's policy is to recognize the costs of compensated absences
          when paid to employees.

                                       11
<PAGE>


                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                December 31, 2001
                                   (Unaudited)


Note 2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)

          Net profit per share

          The Company adopted Statement of Financial Accounting Standards No.
          128 that requires the reporting of both basic and diluted earnings per
          share. Basic earnings per share is computed by dividing net income
          available to common shareowners by the weighted average number of
          common shares outstanding for the period. Diluted earnings per share
          reflects the potential dilution that could occur if securities or
          other contracts to issue common stock were exercised or converted into
          common stock. In accordance with FASB 128, any anti-dilution effects
          on net loss per share are excluded.

          Disclosure about fair value of financial instruments

          The Company has financial instruments, none of which are held for
          trading purposes. The Company estimates that the fair value of all
          financial instruments at December 31, 2001 as defined in FASB 107,
          does not differ materially from the aggregate carrying values of its
          financial instruments recorded in the accompanying balance sheet. The
          estimated fair value amounts have been determined by the Company using
          available market information and appropriate valuation methodologies.
          Considerable judgment is required in interpreting market data to
          develop the estimates of fair value, and accordingly, the estimates
          are not necessarily indicative of the amounts that the Company could
          realize in a current market exchange.

          Concentration of credit risk

          Financial instruments that potentially subject the Company to a
          significant concentration of credit risk consist primarily of cash and
          cash equivalents which are not collateralized. The Company limits its
          exposure to credit loss by placing its cash and cash equivalents with
          high credit quality financial institutions.

          Foreign currency translation

          The functional currency of the Company is the United States Dollar.

          The assets, liabilities, and operations of the Company are expressed
          in the functional currency of the Company in United States Dollars.

          Monetary assets and liabilities are translated at the current rate of
          exchange.

          The weighted average exchange rate for the period is used to translate
          revenue, expenses, and gains or losses from the functional currency to
          the reporting currency.

          The gain or loss on translation is reported as a separate component of
          stockholders' equity and not recognized in net income. Gains or losses
          on remeasurement are recognized in current net income.

                                       12
<PAGE>


                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                December 31, 2001
                                   (Unaudited)


Note 2.    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)

          Gains or losses from foreign currency transactions are recognized in
          current net income.

          Fixed assets are measured at historical exchange rates that existed at
          the time of the transaction.

          Depreciation is recorded at historical exchange rates that existed at
          the time the underlying related asset was acquired.

          The effect of exchange rate changes on cash balances forms part of the
          reconciliation of change in cash and cash equivalents during the
          period.

          Revenue Recognition

          The Securities and Exchange Commission (SEC) issued Staff Accounting
          Bulletin (SAB) 101, Revenue Recognition in Financial Statements, in
          December 1999. The SAB summarizes certain of the SEC staff's views in
          applying generally accepted accounting principles to revenue
          recognition in financial statements. During the current year, the
          Company performed a review of its revenue recognition policies and
          determined that it is in compliance with SAB 101.

          Segmented Information

          The Company's identifiable assets as at December 31, 2001 are located
          in the following countries:

                    Canada                                $  (4,429)
                    China                                   775,812
                                                          ---------
                                                          $ 771,383
                                                          =========

Note 3.  CASH AND CASH EQUIVALENTS

           The total for cash and cash equivalents as at December 31, 2001, is
made up as follows:

                    Cash in bank current accounts         $   9,779
                    Short term deposits                     350,000
                    Cash in lawyer's trust account           85,161
                                                          ---------
                    Total                                 $ 444,940
                                                          =========


                                       13
<PAGE>


                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                December 31, 2001
                                   (Unaudited)


Note 4.   RELATED PARTY TRANSACTIONS - $175,870

          The total amount due to related parties as at December 31, 2001 is
          $175,870. This amounts is unsecured, non interest bearing, with no
          specific terms of repayment.

Note 5.   INVESTMENT IN TEDA PIONEER TECHNOLOGIES CO., LTD

          As at May 31, 2001, the Company set up a joint venture company named
          Teda Pioneer Technologies Co. Ltd. in Tianjin China, of which, Tianjin
          Wan Fang Teda Science and Technology Co Ltd. invested $225,882
          (Chinese Yuan 1,920,000) for a 48% unencumbered interest in the joint
          venture company. Carrying amount for the Investment in Teda Pioneer
          Technologies Co. Ltd. is in accordance with the equity method, and is
          comprised of the following:

               Cost                                       $ 225,882
               Share of profit - 48% of  $190,187            91,290
                                                          ---------
               Equity balance, as at December 31, 2001    $ 317,172
                                                          =========

          Yu Xun Chuang Xian Information Development Co. Ltd. owns 52% of the
          joint venture company by investing $244,706 (Chinese Yuan 2,080,000).
          The financial statements of Teda Pioneer Technologies Co. Ltd. are not
          consolidated in these financial statements; see summarized financial
          data, below.



                                       14
<PAGE>


                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                December 31, 2001
                                   (Unaudited)


Note 5.   INVESTMENT IN TEDA PIONEER TECHNOLOGIES CO., LTD (cont'd)

                       TEDA PIONEER TECHNOLOGIES CO. LTD.
                                  Balance Sheet
                                December 31, 2001
                                   (Unaudited)

                                Assets

          Current Assets
            Cash and cash equivalents                          $ 453,597
            Prepaid expenses                                     117,647
            Accounts receivable, trade                            55,235
            Inventory                                                 --
                                                               ---------
                                                                 626,479
                                                               ---------
          Deferred costs                                          32,808
          Less:  accumulated depreciation                         (7,980)
                                                               ---------
                                                                  24,828
                                                               ---------
          Capital assets, at cost                                 37,946
          Less:  accumulated depreciation                         (3,604)
                                                               ---------
                                                                  34,342
                                                               ---------
                                                               $ 685,649
                                                               =========

                 Liabilities and Shareholders' Equity

          Current Liabilities
            Accounts payable                                   $  24,873
            Advances from customers                                   --
                                                               ---------
                                                                  24,873
                                                               ---------
          Shareholders' Equity
            Capital stock                                        470,588
            Retained earnings                                    190,188
                                                               ---------
                                                                 660,776
                                                               ---------
                                                               $ 685,649
                                                               =========


                                       15

<PAGE>


                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                December 31, 2001
                                   (Unaudited)


Note 5.   INVESTMENT IN TEDA PIONEER TECHNOLOGIES CO., LTD (cont'd)

                       TEDA PIONEER TECHNOLOGIES CO. LTD.
                               Statement of Income
                      Three Months ended December 31, 2001
                                   (Unaudited)


          Revenue                                              $ 196,592
          Direct Costs                                            94,726
                                                               ---------
          Gross Profit                                           101,866
                                                               ---------
          General and Administration Costs
            Amortization - Fixed assets                            1,802
            Amortization - Deferred costs                          3,990
            Bank charge and interest                              (2,693)
            Office costs                                          15,234
            Travel and promotion                                   8,535
            Wages and benefits                                    15,726
                                                               ---------
                                                                  42,594
                                                               ---------
          Net profit for the period                            $  59,272
                                                               =========



                       TEDA PIONEER TECHNOLOGIES CO. LTD.
                         Statements of Retained Earnings
                      Three Months ended December 31, 2001
                                   (Unaudited)


          Profit for the period                                $  59,272
          Retained earnings, beginning of period                 130,916
                                                               ---------
          Retained earnings, end of period                     $ 190,188
                                                               =========



                                       16
<PAGE>


                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                December 31, 2001
                                   (Unaudited)


Note 5.  INVESTMENT IN TEDA PIONEER TECHNOLOGIES CO., LTD (cont'd)

                       TEDA PIONEER TECHNOLOGIES CO. LTD.
                             Statement of Cash Flows
                      Three Months ended December 31, 2001
                                   (Unaudited)


          Cash derived from (applied to)

            Operating activities
              Net profit for the period                        $  59,272
              Less:  non-cash items
                Amortization - fixed assets                        1,802
                Amortization - deferred costs                      3,990
                                                               ---------
                                                                  65,064

            Changes in non-cash working capital items
              Accounts receivable (increase)                     (17,911)
              Prepaid expenses (increase)                       (112,882)
              Inventories (increase)                              32,583
              Accounts payable increase                            9,764
              Advances from customers increase                    (1,018)
                                                               ---------
                                                                 (24,400)
                                                               ---------

            Financing activities
              Capital stock issued                                    --
                                                               ---------

            Investing activities
              Fixed assets purchased                                  --
              Deferred costs                                          --
                                                               ---------

          Cash and cash equivalents, increase during
           the period                                            (24,400)

          Cash and cash equivalents, beginning of period         477,997
                                                               ---------

          Cash and cash equivalents, end of period             $ 453,597
                                                               =========


Note 6.   MINORITY INTEREST

          At December 31, 2001, the consolidated financial statements of Teda
          Technologies Inc. consist of Teda Tchnologies International Inc. and
          its 90% owned subsidiary, Tianjin Wan Fang Teda Science and Technology
          Co. Ltd. and disclose a Minority Interest of $55,124.


                                       17
<PAGE>


                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                December 31, 2001
                                   (Unaudited)


Note 7.   FINANCIAL INSTRUMENTS

          The Company's financial instruments consist of cash and cash
          equivalents, prepaid expenses, and investment in Teda Pioneer
          Technologies Co., Ltd., Accounts payable and due to related parties.
          It is management's opinion that the Company is not exposed to
          significant interest, currency or credit risks arising from these
          financial instruments. The fair value of these financial statements
          approximates their carrying values.

Note 8.   PENSION AND EMPLOYMENT LIABILITIES

          The Company does not have liabilities as at December 31, 2001, for
          pension, post-employment benefits or post-retirement benefits. The
          Company does not have a pension plan.

Note 9.   ACQUISITION

          Teda Technologies Inc. acquired a 90% interest in Tianjin Wanfang Teda
          Science and Technology Co. Ltd. as at October 1, 2001 for a
          consideration of $1.00. The latter company owns 48% of Teda Pioneer
          Technologies Co. Ltd. The majority (52%) owner of Teda Pioneer
          Technologies Co. Ltd. is Yu Xun Chuang Xian Information Development
          Co. Ltd.

Note 10.  OPTION AGREEMENT

          As at October 1, 2001, Teda Technologies Inc. signed an option
          agreement with Teda Pioneer Technologies Co. Ltd. ("Pioneer"). Terms
          and conditions are as follows:

          1.   Option to have General Appointment

               Pioneer hereby grants Teda Technologies Inc. ("TTC") an option
               (Option) to be Pioneer's manager to manage the affairs of
               Pioneer's Business in accordance with the terms of an agreement
               (PSA) which automatically takes full force and effect upon TTC
               investing $500,000 US (Investment) at any time on or before the
               expiry date 12 months from the date of this agreement.

          2.   The PSA entitles TTC to earn a 27% of the net profit (Net Profit)
               of the Business by reason of its management contribution set
               forth in the PSA and its Investment which Net Profit it is agreed
               may, at TTC's option be converted in whole or in part to equity
               in Pioneer provided the rules and regulations in China permit
               such ownership


                                       18
<PAGE>


                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                December 31, 2001
                                   (Unaudited)


Note 10.  OPTION AGREEMENT (cont'd)

          3.   Termination

               This Agreement shall terminate and be of no further force or
               effect if TTC fails to make the Investment by the Expiry Date
               unless such date is extended by mutual agreement and in the event
               TTC does not exercise Option TTC will have no further rights to
               manage the affairs of Pioneer nor be entitled to any share of its
               Net Profits save through its ownership in Wang Fang Teda
               (Tianjin) Technologies Development Co. Ltd., a company
               subsequently incorporated on October 29, 2001.

          4.   Notice

               Notices as to disputes or termination to be given under this
               Agreement shall be signed by the party giving such notice and
               mailed by certified or registered mail, addressed to the party to
               be notified at its then current business address as set forth at
               the beginning of this Agreement or as subsequently changed by
               giving notice. Notice as to address changes, pricing changes,
               warranty changes and other matters relating to policy and
               business may by given to such addresses, by facsimile
               transmission, telex, telegram or first class mail. Notices by
               mail shall be deemed given three days after mailing.

          5.   Settlement of disputes and Governing Law

               5.1  In the event a dispute arises in connection with the
                    interpretation of this Agreement, the parties shall attempt
                    in the first instance to resolve such dispute through
                    amicable consultations. If the dispute cannot be resolved
                    within thirty (30) days the dispute may refer the dispute to
                    arbitration by the Beijing International Arbitration
                    Committee ("Committee"). The number of arbitrators shall be
                    three. The claimant(s) in the dispute shall appoint one
                    arbitrator within thirty (30) days of filing notice of the
                    arbitration, and the respondent(s) in the dispute shall
                    appoint one arbitrator within thirty (30) days thereafter.
                    If the respondent fails to so appoint an arbitrator, the
                    Arbitration Centre shall appoint the second arbitrator. The
                    two arbitrators thus appointed shall choose the third
                    arbitrator, and if they fail to do so within thirty (30)
                    days after the appointment of the second arbitrator, the
                    third arbitrator shall be appointed by the Committee. The
                    arbitration proceedings shall be conducted in the English
                    language.


                                       19
<PAGE>


                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                December 31, 2001
                                   (Unaudited)


Note 10.  OPTION AGREEMENT (cont'd)

               5.2. Any award of the arbitrators shall be final and binding on
                    the parties. The costs of arbitration shall be borne by the
                    losing party, unless the arbitrators determine that this
                    would be inequitable. The parties agree and recognize that
                    any award of the arbitrators shall be recognizable and
                    enforceable in any court having jurisdiction over the party
                    against whom the award was rendered, and also wherever
                    assets of such party are located.

               5.3. The legal relations between the parties under this contract
                    shall be interpreted in accordance with the substantive laws
                    of China. Any disputes between the parties concerning their
                    legal obligations arising under this contract which are
                    submitted to arbitration pursuant to this clause shall be
                    decided pursuant to the substantive laws of China.

          6.   Conditions

               Pioneer agrees that during the currency of this agreement TTC
               will not offer any of its equity nor rights to its profits
               similar to the PSA to any other party.

          7.   This Agreement shall enure to the benefit of and be binding upon
               the parties hereto and their respective administrators and
               successors.



                                       20
<PAGE>


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

Plan of Operations

Since incorporation and prior to October 1, 2001, the Company was a "blank
check" company engaged solely in the activity of seeking a merger candidate.

On September 1, 2001, the Company entered into a Share Exchange Agreement with
the shareholders of a private Canadian company, Teda Technologies Inc. ("Teda
Canada"), whereby the Company acquired 100% of Teda Canada in exchange for
15,697,000 new treasury shares of the Company. A Form 8K was filed on September
14, 2001 which outlined the transaction structure and included a copy of the
Share Exchange Agreement. The key asset of Teda Canada was a Profit Sharing
Agreement that it had entered into on June 1, 2001 with a Chinese domestic joint
venture enterprise engaged in the value added telecommunications industry.

At a meeting of the Company's Board of Directors held on November 13, 2001, it
was unanimously agreed to amend the effective date of the Share Exchange
Agreement from September 1, 2001 to October 1, 2001. This amendment was decided
upon as a result of material amendments to the Profit Sharing Agreement which
was the primary asset of Teda Canada, and as a result of Teda Canada's intent to
acquire an equity interest in the Chinese domestic joint venture enterprise
known as Teda Pioneer Technologies Co. Ltd. ("Teda Pioneer").

Teda Canada's wholly owned Chinese subsidiary, Wan Fang Teda (Tianjin)
Technologies Development Co. Ltd. on October 1, 2001 acquired 90% of the equity
of a Chinese venture, Tianjin Wan Fang TEDA Science and Technology Co. Ltd.
("Wan Fang"). The other 10% equity portion in Wan Fang is owned by a state owned
enterprise, the Teda Administration Commission, which manages the Tianjin
Economic Technological Development Area, an economic development zone
established in 1984 by the State Council of China. Wan Fang owns 48% of the
equity in Teda Pioneer.

The original Profit Sharing Agreement dated June 1, 2001 between Teda Canada and
Teda Pioneer, was terminated as a result of Teda Canada's acquired equity
ownership in Teda Pioneer through its subsidiary and Wang Fang.

The Business

Teda Pioneer has acquired all of the value added telecommunication products and
services business previously conducted by Yu Xun Chuang Xian Information
Development Co. Ltd. ("Chuang Xian"), a division of the Data Bureau department
of China Telecom-Tianjin.

                                       21
<PAGE>

The business is the dominant value added telecommunication products provider in
Tianjin with specialization in areas of Internet and networking. Teda Pioneer's
business license allows for retail and wholesale commerce in areas of:

     o    Electronic technologies
     o    Research and development
     o    Related technology transfer and consulting services
     o    Computer stationary products
     o    Computer hardware
     o    Communications equipment
     o    Electronic equipment
     o    Instruments

Teda Pioneer is establishing a significant market position for its value added
IT products and services throughout the Tianjin China and Teda Government region
- - an area with a population of over 11 million people. The Teda Government
region alone contains over 3,200 major foreign production plants - each with
significant telecommunications equipment and service needs.

Teda Pioneer has focused on provision of digital data network (DDN) and
commercial broadband Internet services, particularly with respect to large
commercial buildings that have traditionally been under-serviced in Tianjin.
China Telecom estimates that there are approximately 11,000 such structures in
the Tianjin area that could be connected with such technologies.

The Market

China's telecommunications system and structure has undergone tremendous growth
over the past 10 years. Users are demanding more services, faster Internet
access speeds and higher levels of product quality. China's economic growth is
currently averaging 8% annually and is forecast to maintain a minimum 6% annual
growth rate for at least the next 20 years. Communications and related
infrastructures are key ingredients in achieving this level of growth and for
continuing this trend.

China Telecom and its offshoots dominate the Chinese public telecommunications
market, and through high wholesale tariffs, the Internet service provider
market. China Telecom is a primary provider of fixed line telephone and mobile
phone communications products while value added companies provide a range of
services and products including derivatives of the Internet such as Internet
data centers, web hosting and IP phones. Teda Pioneer is one such enterprise.

The level of competition between value added IT business operators in the China
market is anticipated to increase as a result of the signing of the World Trade
Organization agreement by China. Such an environment makes China's IT business
difficult for smaller or new competitors and even for the large domestic plays.

                                       22
<PAGE>

Sustained success in China depends on a number of factors but key among them is
the strength of partners and alliances. While competition is fierce, businesses
that have strong partners have good prospects for success. This competitive
market challenges domestic firms to modernize management and to successfully
compete for a share in the growing market. For those that meet the challenge,
the opportunity for success is high. Teda Pioneer's business is the logical
answer for seizing market share by the joining of synergistic forces.

Strategic Relationships

Tianjin Economic Technological Development Area (Teda Government)

Teda Government oversees one of the first economic development areas established
in China in December 1984. Teda Government's special economic zone is a bridge
for foreign enterprises seeking to break into China's emerging consumers
markets. To date, over 3,200 foreign companies have located at the Teda
Government area including Motorola, Nestle and Samsung. Total foreign investment
to date exceeds $12.5 billion US.

Within a radius of 500 kilometers of the Teda Government economic zone are 11
Chinese cities with a population over 1 million. This radius area encompasses a
population of over 200 million or 1/6th of China's total population.

China Telecom - Tianjin

Wan Fang's 52% partner in Teda Pioneer is a division of China Telecom - Tianjin.
China Telecom is China's telecommunication monopoly and has become the dominant
Internet backbone in China. China Telecom has recently reorganized itself into
two macro groups, one which owns and controls the main infrastructure and the
other which provides the actual services to customers/users. The latter group is
open for third parties to collaborate with and compete. Teda Pioneer is one such
entity.

Eighty percent of the Tianjin IT market has traditionally been controlled by
Chuang Xian and Teda Pioneer is aggressively marketing its product line
emphasizing Chuang Xian's rich experience, particularly in areas of broadband
and high speed connect, to commercial customers in the Tianjin and Teda
Government industrial park areas.

The alliance between the partners in Teda Pioneer combines China Telecom's
assets and experience in the Tianjin telecom industry, Teda Government's
strategic affiliations and large industrial base and Teda's international
management skills and access to capital.

Results of operations - comparison of the three-month and six-month periods
ended December 31, 2001 and December 31, 2000.

The following discussion should be read in conjunction with the accompanying
financial statements for the three-month and six-month periods ended December
31, 2001 and the


                                       23
<PAGE>


Annual Report for the fiscal year ended June 30, 2001 which was filed on Form
10KSB by the Company on November 26, 2001.

Certain statements in this report and elsewhere (such as in other filings by the
Company with the Securities and Exchange Commission, press releases,
presentations by the Company or its management and oral statements) may
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as "experts",
"anticipates", "intends", "plans", "believes", "seeks", "estimates", and
"should" and variations of these words and similar expressions, are intended to
identify these forward-looking statements. The Company undertakes no obligation
to publicly release the result of any revisions to these forward-looking
statements, which may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.

The Company is a development stage company and through its wholly owned Canadian
subsidiary, Teda Canada, and its wholly owned China subsidiary, Wan Fang Teda
(Tianjin) Technologies Development Co. Ltd., owns 90% of the equity of another
Chinese company, Wan Fang. Wan Fang owns a 48% interest in Teda Pioneer.

On October 1, 2001, the Company acquired 100% of the equity of Teda Canada in
consideration for issuing 15,697,000 new treasury shares. Therefore, the Company
during the quarter ended December 31, 2001, was no longer a blank check company.

Gross revenue for the quarter was nil as the Company's share of profits of its
minority interest in the subsidiary have not been consolidated. There have also
been no revenues generated by the Company previous to this quarter.

Gross profit for the quarter was nil. Net loss for the quarter was ($41,315)
after consideration of general and administrative costs.

Gross revenue for the six-month period was nil as compared to 0 in the
comparable period in 2000. Net loss for the six-month period was ($44,837) after
consideration of general and administrative costs and consideration of the
minority interest.

General and Administrative Expenses

General and administration expenses were $41,315 for the three-month period
ended December 31, 2001 versus $6,502 for the corresponding period in 2000. The
increase was directly related to the additional costs of operations as a result
of the acquisitions in Canada and China.

These additional costs included investor relation costs of $7,500, office costs
of $5,232, transfer agent and filing fees of $1,370 and travel/promotion costs
of $1,890. Professional fees for the quarter were $25,144 as compared to $6,494
for the corresponding period in 2000.


                                       24
<PAGE>


General and administrative expenses were $44,837 for the six-month period ended
December 31, 2001 versus $6,866 in the 2000 comparable period. Costs during the
six-month period were investor relation costs of $7,500, office costs of $5,372,
transfer agent and listing fees of $1,370 and travel/promotion costs of $1,890.
Professional fees for the six-month period were $28,526 as compared to 6,858 in
the 2000 comparable period.

Liquidity and Capital Resources

The cash balance at the end of the period was $444,940 compared to 0 at December
31, 2000. This included $9,779 in bank account balances, $350,000 in short term
deposits and $85,161 held in trust with Teda Canada's Canadian attorney. For the
period ended December 31, 2001, the Company's operating activities used net cash
of $4,229 compared to 0 in the comparable period for 2000.

Current assets totaled $452,672 which included $444,940 in cash and cash
equivalents and $7,732 in prepaid expenses. The December 31, 2000 current asset
listing was 0.

Longer term assets included $317,172 in investment in Teda Pioneer and $1,539 in
deferred costs. The December 31, 2000 long term asset listing was 0.

Current liabilities totaled $186,295 comprised of $10,425 in accounts payable
and $175,870 due to related parties.

Deferred income from an investment interest was $ 91,290 at December 31,2001. An
amount of $ 55,124 was due to minority shareholder in a subsidiary as at
December 31,2001.

Shareholders equity as at December 31, 2001 totaled $438,674 which included
capital stock of $1,670 at par value, $490,025 as additional paid in capital,
and ($53,021) as a deficit in retained earnings to date. The December 31, 2000
figures reflected $100 in par value capital stock, $36,861 as additional paid in
capital and a deficit of ($39,928) to date.

During the quarter, the cash position declined by an amount of ($29,229) derived
from a net loss for the period of ($41,315), $5,000 as a decrease in prepaid
expenses and $7,086 as an increase in accounts payable. The minority interest in
Teda Pioneer is not consolidated with these statements.

Financing activities during the quarter were $25,000 loaned from a related
party. For the six-month period, cash increased by $444,940. Also during the
six-month period, a total of $717,372 in financing activities were carried out
comprised of $506,335 in stockholder's equity acquired when Teda Canada was
acquired, $55,124 in unpaid minority interests in consolidated net assets and
$155,913 due to related parties.

Investment activities during the quarter were 0 and $227,421 during the
six-month period comprised of $225,882 in investment in Teda Pioneer and $1,539
in deferred costs.


                                       25
<PAGE>


Assets as at December 31, 2001 totaled ($4429) in Canada and $775,812 in China.

The Company has historically relied upon sales of its common stock and loans
from related parties to finance its operations. Additional financing may be
required to meet its obligations in Wan Fang and for current and long-term
development, marketing, and working capital. The Company continues to pursue
opportunities to undertake private equity financings. There can be no assurances
that such financings will take place or, if so, that it will be on acceptable
terms. To the extent of any shortfall in financing, the Company's operations
will be delayed, curtailed or prevented, and the Company may be required to
substantially modify its operations.



                                       26
<PAGE>


                           PART II - OTHER INFORMATION

ITEM 1.   LEGAL PROCEEDINGS

The Company is not a party to any pending or to the best of its knowledge, any
threatened legal proceedings. No director, officer or affiliate of the Company,
or owner of record or of more than five percent (5%) of the securities of the
Company, or any associate of any such director, officer or security holder is a
party adverse to the Company or has a material interest adverse to the Company
in reference to pending litigation.

ITEM 2.   CHANGES IN SECURITIES

As a component of the Share Exchange Agreement dated October 1, 2001, a total of
15,697,000 new treasury shares of the Company have been issued to the former
shareholders of Teda Technologies Inc.

ITEM 5.   OTHER ITEMS

On December 20, 2001, the Company gave notice to its auditor, Cordovano &
Harvey, Certified Public Accountants that they would no longer be the auditor of
record. The Company has retained the firm of Moen & Company to undertake audit
activities. A Form 8K to this effect was filed on December 19, 2001.

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K.

     (a)  The following is a list of exhibits filed as part of this quarterly
          filing on Form 10QSB.

          o    Financial statements for the period ended December 31, 2001.

     (b)  Filings on Form 8-K.

          1.   Form 8K filed on September 14, 2001 which reported the following:
               Share Exchange Agreement entered into by the Company and the
               shareholders of Teda Technologies Inc., a private Canadian
               corporation effective September 1, 2001.

          2.   Form 8-K filed on November 14, 2001 which reported on the
               following:

               Amendment of the closing date of the Share Exchange Agreement
               with the shareholders of Teda Technologies Inc. from September 1,
               2001 to October 1, 2001.

          3.   Form 8-K filed on December 19, 2001 which reported on the
               following:


                                       27
<PAGE>

               Change of auditor from Cordovano & Harvey Certified Public
               Accountants to Moen & Company.


                                   SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

TEDA TECHNOLOGIES INTERNATIONAL INC.

Date:    April 17, 2002

                                              By:  /s/ Jun Zhou
                                                 -------------------------------
                                                 Jun Zhou, President


                                              By:  /s/ Peng Chen
                                                 -------------------------------
                                                 Peng Chen, Secretary




                                       28