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 FORM 3                                                   OMB APPROVAL
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                                                  OMB Number:..........2285-0104
                                                  Expires: ....December 31, 2001
                                                  Estimated average burden .....
                                                  Hours per response ........0.5
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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f)
                     of the Investment Company Act of 1940


(Print or Type Response)


                                                                                                    
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 1. Name and Address of Reporting Person*  2. Date of Event Requiring    4. Issuer Name and Ticker or        6. If Amendment, Date
     Li         Dong         Sheng            Statement                     Trading Symbol                      of Original
----------------------------------------      (Month/Day/Year)              LOTUS PACIFIC, INC. LPFC.OB         (Month/Day/Year)
     (Last)     (First)     (Middle)          29 JUNE 2001              ----------------------------------
       No. 6 Er Ling Nan Lu                ----------------------------  5. Relationship of Reporting        -----------------------
----------------------------------------   3. I.R.S. or Identification        Person to Issuer               7. Individual or Joint/
             (Street)                         Number of Reporting           (Check all applicable)              Group Filing (Check
         Huizhou PRC                          Person (if not entity)       X   Director          10% Owner      Applicable Line)
--------------------------------------        (voluntary)                -----            -----               X     Form filed by
      (City)      (State)      (Zip)       ----------------------------        Officer           Other       -----  One Reporting
                                                                         ----- (give      -----  (specify           Person
                                                                               title below)      below)             Form filed by
                                                                                                             -----  More than One
                                                                         ----------------------------------         Reporting Person
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                                      TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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 1. Title of Security                         2. Amount of Securities         3. Ownership Form:         4. Nature of Indirect
    (Instr. 4)                                   Beneficially Owned              Direct (D) or              Beneficial
                                                 (Instr. 4)                      Indirect (I)               Ownership (Instr. 5)
                                                                                 (Instr. 5)
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N/A                                               N/A                           N/A                           N/A
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Reminder: Report on a separate line for each class of securities beneficially
owned indirectly or indirectly. * If the form is filed by more than one
reporting person, see Instruction 5(b)(v).
(Over) 10410602v1
SEC 1473 (3-99)



 Potential person who are to respond to the collection of information contained
  in this form are not required to respond [???] the form displays a currently
                           valid OMB control number.
   2


 FORM 3 (CONTINUED)               TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
                            (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)

                                                                                              
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1. Title of Derivative Security  2. Date            3. Title and Amount of         4. Conver-    5. Owner-   6. Nature of Indirect
   (Instr. 4)                       Exercisable and    Securities Underlying          sion or       ship        Beneficial Ownership
                                    Expiration Date    Derivative Security            Exercise      Form of     (Instr. 5)
                                    (Month/Day/        (Instr. 4)                     Price of      Deriv-
                                    Year)                                             Deriv-        ative
                                                                                      ative         Security:
                                                                                      Security
                                 -------------------------------------------------                  Direct
                                 Date      Expira-                       Amount or                  (D) or
                                 Exercis-  tion             Title        Number                     Indirect (I)
                                 able      Date                          of Shares                  (Instr. 5)

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  N/A                             N/A       N/A              N/A            N/A         N/A            N/A            N/A
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Explanation of Responses:

                                                                                     /s/ Li Dong Sheng                 July 17, 2001
                                                                                ----------------------------------  ----------------
                                                                                **Signature of Reporting Person          Date

**Intentional misstatements or omissions of facts constitute Federal Criminal
  Violations.  See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed.
  If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form
are not required to respond unless the form displays a currently valid OMB Number.                                            Page 2