ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On November 19, 2008, Wonder Auto Technology, Inc. (the "Company")'s wholly owned subsidiary Wonder Auto Limited, a British Virgin Islands corporation (the "Subsidiary"), entered into an assignment agreement (the "Assignment Agreement") with Golden Stone Capital Limited, a British Virgin Islands corporation ("Golden Stone"), Money Victory Limited, a British Virgin Islands corporation ("Money Victory") and Lin Tan ("Ms. Tan"), the majority owner of Money Victory pursuant to which the Subsidiary has agreed to assign to Gold Stone all the rights, obligations and duties of the Subsidiary under that certain stock purchase agreement (the "Stock Purchase Agreement"), dated April 9, 2008, by and among the Subsidiary, Money Victory and Ms. Tan, as if Golden Stone had entered into the Stock Purchase Agreement directly with Money Victory and Ms. Tan. Under the Stock Purchase Agreement, the Subsidiary acquired a 22.49% ownership interest in Money Victory from Ms. Tan for a total cash consideration of U.S. $5,000,000. Pursuant to the Assignment Agreement, Golden Stone has assumed all of the Subsidiary's rights, obligations and duties under the Stock Purchase Agreement with a cash purchase price of $5,900,000 (the "Purchase Price"). Golden Stone has the obligations to pay the Purchase Price in full within 110 business days after the execution of the Assignment Agreement. The Subsidiary shall transfer its shares of Money Victory to Golden Stone within 30 business days after its receipt of the Purchase Price.

The description of the Assignment Agreement in this current report is a summary only and is qualified in its entirety by the terms of the Assignment Agreement, which is attached hereto as exhibit 10.1 and is hereby incorporated by reference.

ITEM 8.01. OTHER EVENTS

On November 20, 2008, the Company issued a press release announcing that the Subsidiary has entered into the Assignment Agreement. A copy of the press release is attached to this report as Exhibit 99.1.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits. Number Description 10.1 English translation of Assignment Agreement, by and among Wonder Auto Limited, Golden Stone Capital Limited, Money Victory Limited and Lin Tan, dated November 19, 2008. 99.1 Press Release of Wonder Auto Technology, Inc., dated November 20, 2008.

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