U.S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB

                                   (Mark One)

       [X]    Quarterly report pursuant to section 13 or 15(d) of the Securities
              Exchange Act of 1934 For the quarterly period ended March 31, 2002

       [_]    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
March 31, 2002:

                  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............................................... 26
Item 2.  Changes in Securities........................................... 26
Item 4.  Submission of Matters to a Vote of Security Holders............. 26
Item 6.  Exhibits and Reports on Form 8-K................................ 26

Signatures............................................................... 27


                                       2
<PAGE>

                         PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

The unaudited financial statements of the Company for the three-month and
nine-month periods ended March 31, 2002 and March 31, 2001 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 March 31, 2002,
and the Consolidated Statements of Operations, Cash Flows, and Changes in
Stockholders' Equity for the nine 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
May 10, 2002


                                       4
<PAGE>
                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                             (A Nevada Corporation)
                           Consolidated Balance Sheet
                                 March 31, 2002
                            (Expressed in US Dollars)
                                   (Unaudited)
                  (With Comparative Figures at March 31, 2001)

                                                        2002            2001
                                                     -----------     ----------
                           Assets
Current Assets
   Cash and cash equivalents (Note 3)                 $ 447,707       $    --
   Accounts receivable                                    4,396            --
   Prepaid expenses                                       7,732            --
                                                      ---------       ---------

                                                        459,835            --
Investment in Teda Pioneer Technologies
  Co. Ltd. at equity (Notes 5)                          350,038            --
Deferred costs                                            1,352            --
                                                      ---------       ---------
                                                      $ 811,225       $    --
                                                      =========       =========

             Liabilities and Shareholders' Equity

Current Liabilities

   Accounts payable                                   $   1,514       $   4,743
   Due to related parties (Note 4)                      239,225            --
                                                      ---------       ---------
                                                        240,739           4,743
Minority interest (Note 6)                               53,555            --
Deferred Liability (Note 5)
   Deferred income                                      124,156            --
                                                      ---------       ---------
                                                        418,450           4,743
                                                      ---------       ---------
Shareholders' Equity

   Capital stock
       par value                                          1,670             100
       additional paid in capital                       490,025          36,926
   Retained earnings (deficit)                          (98,920)        (41,769)
                                                      ---------       ---------
                                                        392,775          (4,743)
                                                      ---------       ---------
                                                      $ 811,225       $    --
                                                      =========       =========
Approved on behalf of the board:

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

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

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

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

       See Accompanying Notes and Independent Accountants' Review Report

                                       5
<PAGE>
<TABLE>
                          TEDA TECHNOLOGIES INTERNATIONAL, INC.
                                  (A Nevada Corporation)
                           Consolidated Statement of Operations
                                 (Expressed in US Dollars)
                                        (Unaudited)
<CAPTION>
                                       Cumulative From                                             Nine Months
                                       Inception Date           Quarter Ended                         Ended
                                      of July 19, 2000             March 31,                        March 31,
                                        to March 31,     -----------------------------     -----------------------------
                                            2002             2002             2001            2002             2001
                                       --------------    ------------     ------------     ------------     ------------
<S>                                     <C>              <C>              <C>              <C>              <C>
Revenue
   Interest income                      $      2,822     $       --       $       --       $       --       $       --
                                        ------------     ------------     ------------     ------------     ------------

General and Administration Costs
   Bank charges and interest                     429               66             --                245             --
   Depreciation                                   19               19             --                 19             --
   Investor relations and
       investor communications                 7,500             --               --              7,500             --
   Licences, dues                                684               81             --                 81             --
   Office costs                               24,168           18,357           23,729                8
   Professional fees                          39,377            9,206            1,477           37,732           10,194
   Transfer agent and filing fees              8,579            7,209             --              8,579             --
   Travel and promotion                       22,555           12,530             --             14,420             --
                                        ------------     ------------     ------------     ------------     ------------
                                             103,311           47,468            1,477           92,305           10,202
                                        ------------     ------------     ------------     ------------     ------------
Net profit (loss) from operations           (100,489)         (47,468)          (1,477)         (92,305)         (10,202)
Minority interest                              1,569            1,569             --              1,569             --
                                        ------------     ------------     ------------     ------------     ------------
Net profit (loss) for the period        $    (98,920)    $    (45,899)    $     (1,477)    $    (90,736)    $    (10,202)
                                        ============     ============     ============     ============     ============

Basic and diluted earnings (loss)
  per common share                      $      (0.01)    $      (0.00)    $      (0.00)    $      (0.01)    $      (0.01)
                                        ============     ============     ============     ============     ============
Weighted average number of
   shares outstanding                     16,697,000       16,697,000        1,000,000       16,697,000        1,000,000
                                        ============     ============     ============     ============     ============
</TABLE>

See Accompanying Notes and Independent Accountants' Review Report

                                       6
<PAGE>
<TABLE>
                             TEDA TECHNOLOGIES INTERNATIONAL, INC.
                                   (A Nevada Corporation)
                                Statements of Retained Earnings

                                    (Expressed in US Dollars)
                                         (Unaudited)
<CAPTION>
                                   Cumulative From                                     Nine Months
                                   Inception Date         Quarter Ended                   Ended
                                  of July 19, 2000         March 31,                     March 31,
                                    to March 31,   --------------------------    --------------------------
                                       2002            2002          2001           2001          2000
                                   -------------   -----------    -----------    -----------    -----------



<S>                                  <C>            <C>            <C>            <C>            <C>
Profit (loss) for the period         $(98,920)      $(45,899)      $ (1,477)      $(90,736)      $(10,202)
Retained earnings (deficit),
   beginning of period                   --          (53,021)       (40,292)        (8,184)       (31,567)
                                     --------       --------       --------       --------       --------
Retained earnings (deficit),
   end of period                     $(98,920)      $(98,920)      $(41,769)      $(98,920)      $(41,769)
                                     ========       ========       ========       ========       ========
</TABLE>


       See Accompanying Notes and Independent Accountants' Review Report

                                       7
<PAGE>
<TABLE>
                                   TEDA TECHNOLOGIES INTERNATIONAL, INC.
                                        (A Nevada Corporation)
                                        Statement of Cash Flows
                                       (Expressed in US Dollars)
                                             (Unaudited)
<CAPTION>
                                               Cumulative From                                    Nine Months
                                                Inception Date       Quarter Ended                   Ended
                                               of July 19, 2000        March 31,                    March 31,
                                                 to March 31,   -------------------------   --------------------------
                                                    2002           2002          2001          2002           2001
                                                --------------  ----------    -----------   ----------    ------------
<S>                                               <C>           <C>           <C>           <C>           <C>
Cash derived from (applied to)

   Operating activities
     Net profit (loss) for the period             $ (98,920)    $ (45,899)    $  (1,477)    $ (90,736)    $ (10,202)
     Depreciation                                        19            19          --              19          --
     Changes in non-cash working capital items
       Accounts receivable                           (4,396)       (4,396)         --          (4,396)         --
       Prepaid expenses                              (7,732)         --            --          (2,732)         --
       Accounts payable increase                      1,514        (8,911)        1,412        (6,353)       (3,327)
                                                  ---------     ---------     ---------     ---------     ---------
                                                   (109,515)      (59,187)          (65)     (104,198)      (13,529)
                                                  ---------     ---------     ---------     ---------     ---------
   Financing activities
     Capital stock                                  491,695          --              65       506,335        13,529
     Minority interest in
       consolidated net assets                       53,555        (1,569)         --          53,555          --
     Due to related parties                         239,225        63,355          --         219,268          --
                                                  ---------     ---------     ---------     ---------     ---------
                                                    784,475        61,786            65       779,158        13,529
                                                  ---------     ---------     ---------     ---------     ---------
   Investing activities
     Investment in Teda Pioneer
       Technologies Co., Ltd.                      (225,882)         --            --        (225,882)         --
     Deferred costs                                  (1,371)          168          --          (1,371)         --
                                                  ---------     ---------     ---------     ---------     ---------
                                                   (227,253)          168          --        (227,253)         --
                                                  ---------     ---------     ---------     ---------     ---------
Cash and cash equivalents,
   increase (decrease) during the period            447,707         2,767          --         447,707          --

Cash and cash equivalents,
    beginning of period                                --         444,940          --            --            --
                                                  ---------     ---------     ---------     ---------     ---------
Cash and cash equivalents,
   end of period                                  $ 447,707     $ 447,707     $    --       $ 447,707     $    --
                                                  =========     =========     =========     =========     =========
</TABLE>

       See Accompanying Notes and Independent Accountants' Review Report

                                       8
<PAGE>
<TABLE>
                                                              TEDA TECHNOLOGIES INTERNATIONAL, INC.
                                                                    (A Nevada Corporation)
                                                               Statement of Stockholders' Equity
                                                                       March 31, 2002
                                                                 (Expressed in US Dollars)
                                                                        (Unaudited)

<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               1/7/99        1,000,000    $          100   $        200    $                 $          300
     expenses paid by related
     parties on behalf of the
     Company:                       6/30/00                                            23,197                              23,197
                                    6/30/01                                            14,175                              14,175
                                               --------------   ---------------  -------------   ----------------  ---------------
     Balance                        6/30/01        1,000,000               100         37,572                              37,672
     Share exchange                 10/1/01       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 March 31, 2002                                                                                 (98,920)          (98,920)
                                               --------------   ---------------  -------------   ----------------  ---------------
     Balance March 31, 2002                       16,697,000    $        1,670   $    490,025    $      (98,920)   $      392,775
                                               ==============   ===============  =============   ================  ===============

</TABLE>


       See Accompanying Notes and Independent Accountants' Review Report


                                       9
<PAGE>
                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                 March 31, 2002
                                   (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:

<TABLE>
<CAPTION>
                                              Teda Technologies Inc.      Teda                 TianJin
Summary Balance Sheet                              Consolidated       Technologies Inc.        WangFang
                                                   ------------       -----------------        --------
    Assets
<S>                                                   <C>                 <C>                 <C>
  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
                                                      =========           =========           =========
</TABLE>

                                       10
<PAGE>
                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                 March 31, 2002
                                   (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


                                       11
<PAGE>
                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                 March 31, 2002
                                   (Unaudited)

        been recorded in the accompanying financial statements. The
        corporation's policy is to recognize the costs of compensated absences
        when paid to employees.

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.

                                       12
<PAGE>
                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                 March 31, 2002
                                   (Unaudited)

        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.

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 March 31, 2002 are located in
        the following countries:

                         Canada                  $       158,331
                         China                           652,894
                                                 ---------------
                                                 $       811,225

Note 3. CASH AND CASH EQUIVALENTS

        The total for cash and cash equivalents as at March 31, 2002, is made up
        as follows:

              Cash in bank current accounts            $      12,546
              Short term deposits                            350,000
              Cash in lawyer's trust account                  85,161
                                                       -------------
              Total                                    $     447,707
                                                       =============

                                       13
<PAGE>
                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                 March 31, 2002
                                   (Unaudited)

Note 4. RELATED PARTY TRANSACTIONS - $239,225

        The total amount due to related parties as at March 31, 2002 is
        $239,225. 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,
                  to December 31, 2001                                91,290
                  January 1, 2002 to March 31, 2002
                   - 48% of $68,471                                   32,866
                                                             ---------------
                  Booked as deferred income                          124,156
                                                             ---------------

             Equity balance, as at March 31, 2002            $       350,038
                                                             ===============

        Yu Xun Chuang Xian Information Development Co. Ltd. owns 52% of the
        joint venture company by investing $280,311 (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
                                 March 31, 2002
                                   (Unaudited)

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

                       TEDA PIONEER TECHNOLOGIES CO. LTD.

                                  Balance Sheet
                                 March 31, 2002
                                   (Unaudited)


                           Assets
Current Assets
    Cash and cash equivalents                               $ 416,134
    Accounts receivable, trade                                 94,037
    Inventories                                                88,304
    Prepaid expenses                                           15,899
                                                            ---------

                                                              614,374
                                                            ---------
Fixed assets, at cost                                         310,987
Less:  accumulated depreciation                                (7,659)
                                                            ---------
                                                              303,328
                                                            ---------
                                                            $ 917,702
                                                            =========

             Liabilities and Shareholders' Equity

Current Liabilities

    Accounts payable                                        $ 188,455
    Advances from costomers                                      --
                                                            ---------
                                                              188,455
                                                            ---------
Shareholders' Equity

    Capital stock                                             470,588
    Retained earnings                                         258,659
                                                            ---------
                                                              729,247
                                                            ---------
                                                            $ 917,702
                                                            =========


                                       15
<PAGE>
                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                 March 31, 2002
                                   (Unaudited)

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


                       TEDA PIONEER TECHNOLOGIES CO. LTD.

                               Statement of Income
                         Six Months ended March 31, 2002
                                   (Unaudited)



Revenue                                                    $ 431,842
Direct Costs                                                 180,200
                                                           ---------
Gross Profit                                                 251,642
                                                           ---------

General and Administration Costs
    Amortization - Fixed assets                                3,604
    Amortization - Deferred costs                              7,980
    Bank charges and interest                                 (2,701)
    Office costs                                              25,215
    Travel and promotion                                      58,349
    Wages and benefits                                        31,452

                                                           ---------
                                                             123,899
                                                           ---------
Net profit for the period                                  $ 127,743
                                                           =========

     Note: J/V Company is tax free for first three years.


                       TEDA PIONEER TECHNOLOGIES CO. LTD.
                       TEDA PIONEER TECHNOLOGIES CO. LTD.
                         Statements of Retained Earnings
                         Six Months ended March 31, 2002
                                   (Unaudited)


Profit for the period                                      $ 127,743
Retained earnings, beginning of period                       130,916
                                                           ---------
Retained earnings, end of period                           $ 258,659
                                                           =========



                                       16
<PAGE>
                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                 March 31, 2002
                                   (Unaudited)

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

                       TEDA PIONEER TECHNOLOGIES CO. LTD.

                             Statement of Cash Flows
                         Six Months ended March 31, 2002
                                   (Unaudited)


Cash derived from (applied to)

    Operating activities
       Net profit for the period                           $ 127,743
       Less: non-cash items
          Amortization - fixed assets                          3,604
          Amortization - deferred costs                        7,980
                                                           ---------
                                                             139,327
       Changes in non-cash working capital items
          Accounts receivable (increase)                     (56,713)
          Prepaid expenses (increase)                        (11,134)
          Inventories (increase)                             (55,721)
          Accounts payable increase                          173,346
          Advances from customers                             (1,018)
                                                           ---------
                                                             188,087
                                                           ---------
    Financing activities
       Capital stock issued                                     --
                                                           ---------
    Investing activities
       Fixed assets purchased                               (273,041)
       Deferred costs                                         23,091
                                                           ---------
                                                            (249,950)
                                                           ---------
Cash and cash equivalents, Increase during the period        (61,863)

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

Cash and cash equivalents, end of period                   $ 416,134
                                                           =========


                                       17
<PAGE>
                      TEDA TECHNOLOGIES INTERNATIONAL, INC.
                   Notes to Consolidated Financial Statements
                                 March 31, 2002
                                   (Unaudited)

Note 6. MINORITY INTEREST

        At march 31, 2002, 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 $53,555.

Note 7. FINANCIAL INSTRUMENTS

        The Company's financial instruments consist of cash and cash
        equivalents, prepaid expenses, accounts receivable, 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 March 31, 2002, 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
                                 March 31, 2002
                                   (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
                                 March 31, 2002
                                   (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 interst 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 nine-month periods
ended March 31, 2002 and March 31, 2001.

The following discussion should be read in conjunction with the accompanying
financial statements for the three-month and nine-month periods ended March 31,
2002, 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, the Form 10QSB for the period ended
December 31, 2001 filed on February 14, 2002 and an amended Form 10QSB/A filed
on April 19,2002.

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.

Gross revenues and profit for the quarter was $nil since the minority position
in Teda Pioneer is not consolidated. Net income for the quarter was $< 45,889>
after consideration of general and administrative costs and the 10% minority
interest in Wan Fang.

Gross revenue for the nine-month period was $nil as compared to nil in the
comparable period in 2001. Net income for the nine-month period was $< 90,736>
after consideration of general and administrative costs and consideration of the
minority interest.

General and Administrative Expenses

General and administration expenses were $47,468 for the three-month period
ended March 31, 2002 versus $1,477 for the corresponding period in 2001. The
increase was related to the additional costs of operations as a result of the
acquisitions in Canada and China and professional fees associated with the
acquisition.

These costs included office costs of $18,357, transfer agent and filing fees of
$7,209 and travel/promotion costs of $12,530. Professional fees for the quarter
were $9,206 as compared to $1,477 for the corresponding period in 2001.



                                       24
<PAGE>

General and administrative expenses were $92,305 for the nine-month period ended
March 31, 2002 versus $10,212 in the 2001 comparable period. Costs during the
nine-month period were investor relation costs of $7,500, office costs of
$23,729, transfer agent and listing fees of $8,579 and travel/promotion costs of
$14,420. Professional fees for the nine-month period were $37,732 as compared to
10,194 in the 2001 comparable period.

Liquidity and Capital Resources

The cash balance at the end of the period was $447,707 compared to nil at March
31, 2001. This included $12,546 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 March 31, 2002, net cash increased $2,767 compared to nil in the
comparable period for 2001.

Current assets totaled $459,835 which included $447,707 in cash and cash
equivalents, $7,732 in prepaid expenses and $4,396 in accounts recievable. The
March 31, 2001 current asset listing was nil.

Longer term assets included $350,038 in investment in Teda Pioneer and $1,352 in
deferred costs. The March 31, 2001 long term asset listing was nil.

Current liabilities totaled $240,739 comprised of $1,514 in accounts payable and
$239,225 due to related parties. The March 31, 2001 liability listing included
$4,743 in accounts payable.

Shareholders equity as at March 31, 2002 totaled $392,775 which included capital
stock of $1,670 at par value, $ 490,025 as additional paid in capital, and
$98,920 as a deficit in retained earnings to date. The March 31, 2001 figures
reflected $100 in par value capital stock, $36,926 as additional paid in capital
and a deficit of $41,769 to date.

Financing activities during the quarter were $ 63,355 loaned from a related
party. For the nine-month period, cash increased by $447,707 as a result of the
shareholder's equity acquired when Teda Canada was acquired.

Investment activities were $227,253 during the nine-month period comprised of
$225,882 investment in Teda Pioneer and $1,371 in deferred costs.

Assets as at March 31, 2002 totaled $158,331 in Canada and $652,894 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


                                       25
<PAGE>

Company's operations will be delayed, curtailed or prevented, and the Company
may be required to substantially modify its operations.

                           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

None

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 March 31, 2002.

(b)     Filings on Form 8-K.

        1.      Form 8-K/A filed on January 14, 2002 which reported the
                following:

        Formal filing of Pro forma financials which gave effect to the
        acquisition of Teda Canada as at October 1, 2001.

        2.      Form 8-K/A filed on January 15, 2002 which reported on the
                following:

        Amendment of the effective date of the acquisition of Teda Canada from
        September 1,2001 to October 1,2001.



                                       26
<PAGE>

                                   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:    May 14, 2002

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


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



                                       27