OTC Bulletin Board S & P Company Insight for CHINAGROWTH SOUTH AQ
Profile
	Business Summary: ChinaGrowth South Acquisition Corporation does not have significant operations. It intends to acquire share capital exchange, asset acquisition or other similar business combination with its primary operating facilities located in the People's Republic of China.   Address   1818 Canggong Road   Fengxian Shanghai Chemical Industry Park   Shanghai 201417   Phone: 86-21-5744-8336 Auditor   J.H. Cohn Transfer Agent Transfer Agent   American Stock Transfer & Trust Co.   American Stock Transfer & Trust Co. Founded:  2006 Domicile:  Cayman Islands
Background
	ChinaGrowth South Acquisition Corporation does not have significant operations. It intends to acquire share capital exchange, asset acquisition or other similar business combination with its primary operating facilities located in the People's Republic of China. The company was founded in 2006 and is based in Shanghai, the People's Republic of China. History:  INCORPORATED in the Cayman Islands May 3, 2006.
Management
	Management Officers Position  Xuechu  He Chairman  Michael W. Zhang Secretary & Chief Executive Officer  Jin  Shi Chief Financial Officer & Chief Accounting Officer Directors  Xuechu  He  Jin  Shi  Xuesong  Song  Michael W. Zhang  Teng  Zhou
Annual Report
	Annual Report   Income Statement   2007 2007 2006 Operating expenses $282,139 $298,381 $16,242 Loss from operations (282,139) (298,381) (16,242) Interest income 1,686,358 1,688,193 1,835 Net (loss) income $1,404,219 $1,389,812 $(14,407) Net income (loss) per share--basic and diluted $0.25 $(0.01) Weighted average number of shares outstanding--basic and diluted 5,724,692 1,125,000 See Accompanying Notes to Financial Statements. Operating Income As Calculated Depr. and Amort. Fixed Charges Coverage: Available for Fixed Charges Gross Fixed Charges Fixed Charges Times Earnings Fixed Charges Coverages and Preferred Dividends Times Earnings Capital Expenditures Research & Development Expenditures   Balance Sheet   2007 2006 Cash and cash equivalents $398,735 $157,028 Prepaid expenses 18,965 -- Investment held in trust 38,979,139 -- Investment held in trust for Underwriter 802,160 -- Other receivable 3,877 -- Deferred offering cost -- 212,621 Total assets $40,202,876 $369,649 Accrued offering costs -- 149,056 Accrued expenses 30,836 -- Unsecured promissory notes -- 210,000 Due to Underwriters 802,160 -- Total current liabilities 832,996 359,056 Common Stock subjected to possible conversion to cash (1,002,199 shares at conversion value) 7,952,282 -- Total shareholders equity 31,417,598 10,593 Total liabilities and shareholders equity $40,202,876 $369,649 ASSETS Current assets: Cash and cash equivalents $398,735 $157,028 Prepaid expenses 18,965 -- Investment held in trust 38,979,139 -- Investment held in trust for Underwriter 802,160 -- Other receivable 3,877 -- Deferred offering cost -- 212,621 Total assets $40,202,876 $369,649 LIABILITIES AND SHAREHOLDERS EQUITY Current liabilities: Accrued offering costs -- 149,056 Accrued expenses 30,836 -- Unsecured promissory notes -- 210,000 Due to Underwriters 802,160 -- Total current liabilities 832,996 359,056 Common Stock subject to possible conversion to cash (1,002,199 shares at conversion value) 7,952,282 -- COMMITMENTS Shareholders equity: Preferred shares--$.001 par value; 1,000,000 shares authorized; no shares issued and outstanding -- -- Ordinary shares--$.001 par value, 20,000,000 shares authorized; 6,138,500 issued and outstanding - 2007; 1,125,000 shares issued and outstanding - 2006 6,139 1,125 Additional paid-in capital 30,021,647 23,875 Retained earnings/(deficit) accumulated during the development stage 1,389,812 (14,407) Total shareholders equity 31,417,598 10,593 Total liabilities and shareholders equity $40,202,876 $369,649 Net Working Capital Equity per Share Depr. and Amort. Reserve Preferred Shares Issued Common Shares Issued Treasury Shares - Preferred Treasury Shares - Common
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue   Data Not Available   Quarterly Net Income   Data Not Available   Quarterly EPS, US$ Year Quarter Revenue   2006   Full Year N/A
Stock Data
	Capitalization as of 06/30/2007:     Authorized Shares Outstanding Shares Preferred $0.001 par 1,000,000 None Ordinary $0.001 par 20,000,000 6,138,500   LONG TERM DEBT: None.   Ordinary $0.001 par   UNITS OFFERED: January 23, 2007, the company, through underwriters led by Morgan Joseph & Co., offered 4,500,000 Ordinary shares and warrants to buy a like number of Ordinary shares in Units (each consisting of one Ordinary share and one warrant) at $8.00 per Unit; comm., $0.56 per Unit. An additional 675,000 Units were available to cover over-allotments. The company also sold to the underwriter, for $100, an option to buy up to a total of 315,000 Units at $10.00 per Unit.   Transfer Agent:  American Stock Transfer & Trust Co.   New York , NY   OTC Bulletin Board( Primary): CGSXF   Exchange Year High Low OTC Bulletin Board 2007 7.2800 7.2000 Units   Transfer Agent:  American Stock Transfer & Trust Co.   New York , NY   OTC Bulletin Board( Primary): CGSUF   Exchange Year High Low OTC Bulletin Board 2007 8.5100 7.9500   DIVIDENDS: Ordinary $0.001 par: No cash.