AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON
NOVEMBER 18, 2004

                         REGISTRATION NO. _______________




                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                    FORM S-8
            REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

        Pingchuan  Pharmaceutical,  Inc.  f/k/a  Xenicent,  Inc.
     ----------------------------------------------------------------
       (Exact  name  of  Registrant  as  specified  in  its  charter)

      North  Carolina                                      36-4344865
---------------------------------------------------------------------
(State  or  other  jurisdiction  of                    (IRS  Employer
incorporation  or  organization)                 Identification  No.)

          32 Ganshui Rd., Harbin, Heilongjiang, P.R. China
---------------------------------------------------------------------
(Address  of  Principal  Executive  Offices,  including  ZIP  Code)

                   2004 Non-Qualified Stock Compensation Plan
             --------------------------------------------------------
                        (Full title of the plan)

                         Duane Bennett
                         P. O. Box 243
                         Chimney Rock, NC  28720
---------------------------------------------------------------------
                   (Name and address of agent for service)

                                (828) 625-2666
---------------------------------------------------------------------
     (Telephone number, including area code, of agent for service)




<PAGE>
<TABLE>
<CAPTION>

                                    CALCULATION OF REGISTRATION FEE


                                                    PROPOSED            PROPOSED
                              AMOUNT OF             MAXIMUM             MAXIMUM                 AMOUNT OF
TITLE OF SECURITIES            SHARES               OFFERING           AGGREGATE               REGISTRATION
  TO BE REGISTERED        TO BE REGISTERED      PRICE PER SHARE      OFFERING  PRICE(1)             FEE
-----------------------------------------------------------------------------------------------------------
<S>                      <C>                   <C>                   <C>                        <C>
$.001  par  value        3,000,000              $.30 (1)              $900,000                   $114.03
common stock
-----------------------------------------------------------------------------------------------------------

TOTALS                   3,000,000                                    $900,000                   $114.03

</TABLE>

(1)     This  calculation  is  made  solely  for the purposes of determining the
registration  fee pursuant to the provisions of Rule 457(c) under the Securities
Act  of  1933,  as amended, and is calculated on the basis of the average of the
high  and low prices reported on the OTC Bulletin Board as of November 16, 2004.


<PAGE>
                             PROSPECTUS

                    Pingchuan Pharmaceutical, Inc.

                   3,000,000 Shares of Common Stock

     This  prospectus relates to the offer and sale by Pingchuan Pharmaceutical,
Inc.,  a  North  Carolina corporation ("Pingchuan Pharmaceutical"), of 3,000,000
shares  of  its  $.001  par  value  per share common stock to certain employees,
officers,  directors  and consultants (the "consultants") pursuant to consulting
agreements  and  the  2004  Non-Qualified  Stock  Compensation  Plan (the "Stock
Plan").  Pursuant  to  the  Stock Plan and the consulting agreements, in payment
for  services  rendered,  Pingchuan  Pharmaceutical is registering hereunder and
then  issuing,  upon  receipt  of  adequate  consideration  therefore,  to  the
consultants  and  persons  covered by the Stock Plan, 3,000,000 shares of common
stock.

     The  common  stock  is  not  subject to any restriction on transferability.
Recipients  of  shares  other  than  persons  who  are "affiliates" of Pingchuan
Pharmaceutical  within the meaning of the Securities Act of 1933 (the "Act") may
sell  all  or part of the shares in any way permitted by law, including sales in
the  over-the-counter  market at prices prevailing at the time of such sale.  An
affiliate  is  summarily,  any  director,  executive  officer  or  controlling
shareholder  of  Pingchuan  Pharmaceutical  or  any one of its subsidiaries.  An
"affiliate"  of  Pingchuan  Pharmaceutical  is  subject  to Section 16(b) of the
Securities  Exchange  Act  of  1934,  as  amended  (the  "Exchange  Act").  If a
consultant  who  is  not  now an "affiliate" becomes an "affiliate" of Pingchuan
Pharmaceutical  in  the future, he/she would then be subject to Section 16(b) of
the  Exchange  Act.  The  common stock is traded on the OTC Bulletin Board under
the  symbol  "PGCN."

THESE  SECURITIES  HAVE  NOT  BEEN  APPROVED  OR  DISAPPROVED  BY THE SECURITIES
ANDEXCHANGE  COMMISSION  NOR  HAS  THE  COMMISSION  PASSED  UPON THE ACCURACY OR
ADEQUACY  OF  THIS  PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.

                The date of this prospectus is November 18, 2004


<PAGE>
This  prospectus  is part of a registration statement which was filed and became
effective  under  the Securities Act of 1933, as amended (the "Securities Act"),
and  does  not  contain  all  of  the  information set forth in the registration
statement, certain portions of which have been omitted pursuant to the rules and
regulations  promulgated  by  the  U.S.  Securities and Exchange Commission (the
"Commission") under the Securities Act.  The statements in this prospectus as to
the  contents  of any contracts or other documents filed as an exhibit to either
the registration statement or other filings by Pingchuan Pharmaceutical with the
Commission  are  qualified  in  their  entirety  by  the  reference  thereto.

     A  copy  of  any document or part thereof incorporated by reference in this
prospectus  but  not  delivered  herewith  will be furnished without charge upon
written  or  oral  request.  Requests  should  be  addressed  to:  Pingchuan
Pharmaceutical,  32  Ganshui  Rd.,  Harbin, Heilongjiang, P.R. China.  Pingchuan
Pharmaceutical's  telephone  number  is  (86451)  8271-3712.

     Pingchuan  Pharmaceutical  is  subject to the reporting requirements of the
Exchange  Act  and  in  accordance therewith files reports and other information
with  the  Commission.  These  reports,  as  well  as  the  proxy  statements,
information  statements  and other information filed by Pingchuan Pharmaceutical
under  the  Exchange  Act  may  be  inspected and copied at the public reference
facilities  maintained  by  the Commission at 450 Fifth Street, N.W., Washington
D.C.  20549.

     No  person  has  been  authorized  to  give  any information or to make any
representation,  other than those contained in this prospectus, and, if given or
made, such other information or representation must not be relied upon as having
been  authorized  by  Pingchuan  Pharmaceutical.  This  prospectus  does  not
constitute  an  offer  or a solicitation by anyone in any state in which such is
not  authorized  or  in  which the person making such is not qualified or to any
person  to  whom  it  is  unlawful  to  make  an  offer  or  solicitation.

     Neither  the delivery of this prospectus nor any sale made hereunder shall,
under any circumstances, create any implication that there has not been a change
in  the  affairs  of  Pingchuan  Pharmaceutical  since  the  date  hereof.

<PAGE>
                                TABLE OF CONTENTS


INFORMATION  REQUIRED  IN  THE  SECTION  10(A)  PROSPECTUS                     6

Item  1. The  Plan  Information                                                6

Item  2. Registrant Information and Employee Plan Annual Information           8

INFORMATION  REQUIRED  IN  THE  REGISTRATION  STATEMENT                        8

Item  3. Incorporation  of  Documents  by  Reference                           8

Item  4. Description  of  Securities                                           8

Item  5. Interests  of  Named  Experts  and  Counsel                           8

Item 6. Indemnification of Officers, Directors, Employees and Agents; Insurance9

Item  7. Exemption  from  Registration  Claimed                                9

Item  8. Exhibits                                                              9

Item  9. Undertakings                                                         10

SIGNATURES                                                                    12


<PAGE>
                                          PART 1
                         INFORMATION REQUIRED IN THE SECTION 10(A)
                                       PROSPECTUS

ITEM  1.  THE  PLAN  INFORMATION.

THE  COMPANY

     Pingchuan  Pharmaceutical has its principal executive offices at 32 Ganshui
Rd.,  Harbin,  Heilongjiang,  P.R.  China.  Pingchuan Pharmaceutical's telephone
number  is  (86451)  8271-3712.

PURPOSE

     Pingchuan  Pharmaceutical  will  issue  common  stock to certain employees,
officers,  directors  and  consultants pursuant to consulting agreements and the
Stock  Plan,  which  has  been  approved  by the Board of Directors of Pingchuan
Pharmaceutical.  The  agreements  and  the  Stock Plan are intended to provide a
method  whereby  Pingchuan  Pharmaceutical  may  be  stimulated  by the personal
involvement  of such employees, officers, directors and consultants in Pingchuan
Pharmaceutical's future prosperity, thereby advancing the interests of Pingchuan
Pharmaceutical and all of its shareholders.  The Stock Plan has been filed as an
exhibit  to  this  registration  statement.

COMMON  STOCK

     The  Board  has  authorized  the  issuance of up to 3,000,000 shares of the
common  stock to the certain employees, officers, directors and consultants upon
effectiveness  of  this  registration  statement.

THE  CONSULTANTS

     The  consultants  have  agreed  to  provide  their  expertise and advice to
Pingchuan  Pharmaceutical  for  the  purposes  set  forth  in  the  consulting
agreements.

NO  RESTRICTIONS  ON  TRANSFER

     The  employees,  officers, directors and consultants will become the record
and  beneficial  owners of the shares of common stock upon issuance and delivery
and  are entitled to all of the rights of ownership, including the right to vote
any  shares  awarded and to receive ordinary cash dividends on the common stock.

TAX  TREATMENT  TO  THE  RECIPIENTS

     The  common  stock  is  not  qualified under Section 401(a) of the Internal
Revenue  Code.  The  employees,  officers, directors and consultants, therefore,
will  be  required  for  federal  income  tax purposes to recognize compensation
during  the  taxable  year  of  issuance  unless  the  shares  are  subject to a
substantial  risk  of  forfeiture.  Accordingly,  absent  a specific contractual
provision  to  the contrary, the recipients will receive compensation taxable at
ordinary  rates  equal  to  the  fair  market value of the shares on the date of
receipt  since  there  will  be  no  substantial  risk  of  forfeiture  or other
restrictions  on transfer.  If, however, the recipients receive shares of common
stock  pursuant  to  the  exercise  of an option or options at an exercise price
below  the  fair  market  value  of  the  shares  on  the  date of exercise, the
difference  between the exercise price and the fair market value of the stock on
the  date  of  exercise  will  be  deemed  compensation  for  federal income tax
purposes.  The  recipients  are  urged  to consult each of their tax advisors on
this  matter.  Further, if any recipient is an "affiliate," Section 16(b) of the
Exchange  Act  is  applicable  and  will  affect  the  issue  of  taxation.

TAX  TREATMENT  TO  THE  COMPANY

     The  amount  of  income recognized by any recipient hereunder in accordance
with  the  foregoing  discussion  will  be a tax deductible expense by Pingchuan
Pharmaceutical  for federal income tax purposes in the taxable year of Pingchuan
Pharmaceutical  during  which  the  recipient  recognizes  income.

RESTRICTIONS  ON  RESALES

     In  the event that an affiliate of Pingchuan Pharmaceutical acquires shares
of common stock hereunder, the affiliate will be subject to Section 16(b) of the
Exchange  Act.  Further,  in  the  event  that  any  affiliate  acquiring shares
hereunder  has  sold  or  sells  any  shares  of  common stock in the six months
preceding  or following the receipt of shares hereunder, any so called "profit,"
as  computed  under  Section  16(b) of the Exchange Act, would be required to be
disgorged  from  the  recipient  to Pingchuan Pharmaceutical.  Services rendered
have  been  recognized  as  valid  consideration for the "purchase" of shares in
connection  with  the  "profit"  computation under Section 16(b) of the Exchange
Act.  Pingchuan  Pharmaceutical  has agreed that for the purpose of any "profit"
computation  under  16(b),  the  price  paid  for  the  common  stock  issued to
affiliates  is  equal to the value of services rendered.  Shares of common stock
acquired  hereunder  by persons other than affiliates are not subject to Section
16(b)  of  the  Exchange  Act.


<PAGE>
ITEM  2.  REGISTRANT  INFORMATION  AND  EMPLOYEE  PLAN  ANNUAL  INFORMATION

     A  copy  of  any document or part thereof incorporated by reference in this
registration  statement  but  not delivered with this prospectus or any document
required  to  be delivered pursuant to Rule 428(b) under the Securities Act will
be  furnished  without  charge upon written or oral request.  Requests should be
addressed  to:  Pingchuan  Pharmaceutical, 32 Ganshui Rd., Harbin, Heilongjiang,
P.R.  China,  where  its  telephone  number  is  (86451)  8271-3712.

                                    PART II
               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM  3.  INCORPORATION  OF  DOCUMENTS  BY  REFERENCE.

     The  following  documents filed with the Securities and Exchange Commission
(the  "Commission")  by  Pingchuan  Pharmaceutical, Inc. f/k/a Xenicent, Inc., a
North  Carolina  corporation  (the  "Company"),  are  incorporated  herein  by
reference:

(a)     The  Company's  latest Annual Report on Form 10-KSB/A for the year ended
December  31, 2003, filed with the Securities and Exchange Commission on October
25,  2004;

(b)     The  reports  of the Company filed pursuant to Section 13(a) or 15(d) of
the  Securities  Exchange Act of 1934, as amended (the "Exchange Act") since the
fiscal  year  ended  December  31,  2003;

(c)     A  description  of  the  Company's common stock as contained in its
Form SB-2, filed December 21, 2000 (File No. 333-52472), including any amendment
or  report  filed  for  the  purpose  of  updating  such  description;  and

(d)     All  other  documents  filed  by  the  Company  after  the  date of this
registration  statement  pursuant  to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange  Act,  prior  to  the  filing  of  a  post-effective  amendment to this
registration  statement  which  indicates  that all securities offered have been
sold or which de-registers all securities then remaining unsold, shall be deemed
to  be incorporated by reference in this registration statement and to be a part
hereof  from  the  date  of  filing  such  documents
..
ITEM  4.  DESCRIPTION  OF  SECURITIES.

     Not  applicable.

ITEM  5.  INTERESTS  OF  NAMED  EXPERTS  AND  COUNSEL.

     The  financial  statements  of Pingchuan Pharmaceutical are incorporated by
reference  in this prospectus as of and for the year ended December 31, 2003 and
have  been  audited by Perrella & Associates, P.A., independent certified public
accountants,  as set forth in their report incorporated herein by reference, and
are  incorporated  herein in reliance upon the authority of said firm as experts
in  auditing  and  accounting.

ITEM 6. INDEMNIFICATION OF OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS; INSURANCE.

     Under  North  Carolina  law,  a  corporation  may  indemnify its directors,
officers,  employees  and  agents  under  certain  circumstances,  including
indemnification  of  such  persons against liability under the Securities Act of
1933,  as  amended.  Those  circumstances  include  that  a  director,  officer,
employee  or  agent  may  be indemnified if the person conducted himself in good
faith  and  he reasonably believed that his conduct was in the best interests of
the  corporation.  A  true  and correct copy of Section 55-8-51 of Chapter 55 of
the  North  Carolina General Statutes, also known as the North Carolina Business
Corporation  Act,  that  addresses  indemnification  of  directors,  officers,
employees  and  agents  is  attached  hereto  as  Exhibit  99.1.

     The  bylaws of Pingchuan Pharmaceutical provide for indemnification of each
person  (including  the  heirs,  executors,  administrators,  or  estate of such
person)  who  is or was a director and officer of the corporation to the fullest
extent  permitted  or authorized by current or future legislation or judicial or
administrative  decision  against  all  fines,  liabilities, costs and expenses,
including  attorneys'  fees,  arising  out  of  his or her status as a director,
officer,  agent,  employee  or  representative.  The  foregoing  right  of
indemnification shall not be exclusive of other rights to which those seeking an
indemnification may be entitled.  The corporation may maintain insurance, at its
expense,  to  protect  itself  and  all  officers  and  directors against fines,
liabilities,  costs, and expenses, whether or not the corporation would have the
legal  power  to  indemnify  them  directly  against  such  liability.

     Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors, officers or persons controlling an issuer
pursuant to the foregoing provisions, the opinion of the Commission is that such
indemnification  is  against public policy as expressed in the Securities Act of
1933  and  is  therefore  unenforceable.

     The  effect  of  these  provisions  may be to limit the rights of Pingchuan
Pharmaceutical  and  its stockholders (through stockholders' derivative suits on
behalf  of  Pingchuan  Pharmaceutical)  to recover monetary damages and expenses
against  a  director  for  breach  of  fiduciary  duty.

ITEM  7.  EXEMPTION  FROM  REGISTRATION  CLAIMED.

     Not  applicable.

ITEM  8.  EXHIBITS.

     (a)     The  following  exhibits  are  filed  as  part of this registration
statement  pursuant  to  Item  601  of  the  Regulation S-K and are specifically
incorporated  herein  by  this  reference:

Exhibit  No.     Title
-----------      ------------------------------------------------------------

5.1              Legal  opinion  of  Law  Offices  of  Harold  H.  Martin,  P.A.

10.1             2004  Non-Qualified  Stock  Plan

23.1             Consent of  Law Offices of Harold H. Martin, P.A. (included in
                 Exhibit 5.1)

23.2             Consent  of  Perrella  &  Associates,  P.A.

99.1             Section  55-8-51  of  North  Carolina  General  Statutes

ITEM  9.  UNDERTAKINGS.

     The  undersigned  registrant  hereby  undertakes:

     (1)  To  file, during any period in which offers or sales are being made, a
          post-effective  amendment  to  this  registration  statement  to:

          (i)  include  any  prospectus  required  by  Section  10(a)(3)  of the
               Securities  Act  of  1933;

          (ii) reflect  in  the prospectus any facts or events arising after the
               effective  date of the registration statement (or the most recent
               post-effective  amendment  thereof) which, individually or in the
               aggregate, represents a fundamental change in the information set
               forth  in  the  registration  statement;

         (iii) include  any  material  information  with  respect to the plan of
               distribution  not  previously  disclosed  in  this  registration
               statement  or  any  material  change  to such information in this
               registration  statement.

          Provided,  however, that paragraphs (1)(i) and (1)(ii) shall not apply
          if  the  registration  statement is on Form S-3, Form S-8 or Form F-3,
          and  the  information  required  to  be  included  in a post-effective
          amendment  by  those paragraphs is contained in periodic reports filed
          by  the  registrant  pursuant  to  section  13 or section 15(d) of the
          Securities  Exchange Act of 1934 that are incorporated by reference in
          the  registration  statement.

     (2)  That,  for  the  purpose  of determining any liability pursuant to the
          Securities  Act, each such post-effective amendment shall be deemed to
          be  a  new  registration  statement relating to the securities offered
          therein,  and  the  offering  of  such securities offered at that time
          shall  be  deemed  to  be  the  initial  bona  fide  offering thereof.

     (3)  To remove from registration by means of a post-effective amendment any
          of  the  securities  being  registered  which  remain  unsold  at  the
          termination  of  the  offering.

     (4)  To  deliver  or  cause  to  be  delivered with the prospectus, to each
          person  to  whom  the  prospectus  is sent or given, the latest annual
          report  to  security  holders that is incorporated by reference in the
          prospectus  and  furnished pursuant to and meeting the requirements of
          Rule  14a-3  or  Rule 14c-3 under the Securities Exchange Act of 1934;
          and,  where  interim financial information required to be presented by
          Article  3  of  Regulation  S-X is not set forth in the prospectus, to
          deliver,  or  cause  to  be  delivered  to  each  person  to  whom the
          prospectus  is  sent  or  given,  the  latest quarterly report that is
          specifically  incorporated  by  reference in the prospectus to provide
          such  interim  financial  information.

     (5)  Insofar  as  indemnification  for  liabilities  arising  under  the
          Securities Act may be permitted to directors, officers and controlling
          persons  of  registrant  pursuant  to  the  foregoing  provisions,  or
          otherwise,  registrant  has  been  advised  that in the opinion of the
          Securities  and  Exchange  Commission  such indemnification is against
          public  policy  as  expressed  in the Securities Act and is therefore,
          unenforceable.  In  the event that a claim for indemnification against
          such  liabilities  (other  than  the payment by registrant of expenses
          incurred  or  paid  by  a  director,  officer or controlling person of
          registrant  in  the  successful  defense  of  any  action,  suit  or
          proceeding)  is  asserted  by  such  director,  officer or controlling
          person  in connection with the securities being registered, registrant
          will, unless in the opinion of its counsel the matter has been settled
          by  controlling  precedent,  submit  to  a  court  of  appropriate
          jurisdiction  the  question  whether  such  indemnification is against
          public  policy  as  expressed  in  the Act and will be governed by the
          final  adjudication  of  such  issue.

     The  undersigned  hereby  undertakes  that, for purposes of determining any
liability  under  the Securities Act of 1933, each filing of registrant's annual
report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act
of 1934 (and, where applicable, each filing of an employee benefit plan's annual
report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is
incorporated  by reference in the registration statement shall be deemed to be a
new  registration  statement relating to the securities offered therein, and the
offering  of such securities at that time shall be deemed to be the initial bona
fide  offering  thereof.

<PAGE>
                                          SIGNATURES

     Pursuant  to the requirements of the Securities Act of 1933, the Registrant
certifies  it  has  reasonable  grounds  to  believe  that  it  meets all of the
requirements  for  filing  on  Form  S-8  and  has duly caused this registration
statement  to  be  signed  on  its  behalf  by  the  undersigned, thereunto duly
authorized  in  the  city  of Fort Lauderdale, State of Florida, on November 18,
2004.

                                          Pingchuan  Pharmaceutical
                                        (Registrant)

                                         /s/  Zhanwu  Hu
                                        --------------------
                                        Zhanwu  Hu
                                       Chairman  and  President

     Pursuant  to  the  requirements  of  the  Securities  Act  of  1933,  this
registration  statement  has  been  signed  by  the  following  persons  in  the
capacities  and  on  the  date  indicated.

<TABLE>
<CAPTION>


                SIGNATURES                        TITLE                                 DATE
---------------------------------------------------------------------------------------------------
<S>        <C>                           <C>                                    <C>
           /s/  Zhanwu  Hu                Chairman  and  President               November 18, 2004
                Zhanwu  Hu

           /s/  Qitai  Yao                Director  and  Chief                   November 18, 2004
                Qitai  Yao                 Executive Officer

           /s/  Yi  Xiao
                Yi  Xiao                  Director,  Vice President              November 18, 2004
                                           and Vice General Manager

           /s/  Xichen  Gao
                Xichen  Gao               Director,  Vice  President             November 18, 2004
                                           and Vice General Manager

           /s/  Chunli  Li
                Chunli Li                 Director, Vice President
                                           and Vice General Manager              November 18, 2004

</TABLE>
[{"type": "S-8", "sequence": "1", "filename": "doc1.txt", "secsgml_size_bytes": 26597}]
{"company-data": {"conformed-name": "PINGCHUAN PHARMACEUTICAL INC", "cik": "0001121282", "assigned-sic": "3990", "irs-number": "582258912", "state-of-incorporation": "NC", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-120818", "film-number": "041172360"}, "business-address": {"street1": "32 GANSHUI RD.", "city": "HARBIN", "state": "F4", "zip": "150000", "phone": "86451-8271-3712"}, "mail-address": {"street1": "32 GANSHUI RD.", "city": "HARBIN", "state": "F4", "zip": "150000"}, "former-company": [{"former-conformed-name": "XENICENT INC", "date-changed": "20001130"}, {"former-conformed-name": "GREAT LAND DEVELOPMENT CO", "date-changed": "20000807"}]}
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON
NOVEMBER 18, 2004

                         REGISTRATION NO. _______________

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                    FORM S-8
            REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

        Pingchuan  Pharmaceutical,  Inc.  f/k/a  Xenicent,  Inc.
     ----------------------------------------------------------------
       (Exact  name  of  Registrant  as  specified  in  its  charter)

      North  Carolina                                      36-4344865
---------------------------------------------------------------------
(State  or  other  jurisdiction  of                    (IRS  Employer
incorporation  or  organization)                 Identification  No.)

          32 Ganshui Rd., Harbin, Heilongjiang, P.R. China
---------------------------------------------------------------------
(Address  of  Principal  Executive  Offices,  including  ZIP  Code)

                   2004 Non-Qualified Stock Compensation Plan
             --------------------------------------------------------
                        (Full title of the plan)

                         Duane Bennett
                         P. O. Box 243
                         Chimney Rock, NC  28720
---------------------------------------------------------------------
                   (Name and address of agent for service)

                                (828) 625-2666
---------------------------------------------------------------------
     (Telephone number, including area code, of agent for service)
CALCULATION OF REGISTRATION FEE

                                                    PROPOSED            PROPOSED
                              AMOUNT OF             MAXIMUM             MAXIMUM                 AMOUNT OF
TITLE OF SECURITIES            SHARES               OFFERING           AGGREGATE               REGISTRATION
  TO BE REGISTERED        TO BE REGISTERED      PRICE PER SHARE      OFFERING  PRICE(1)             FEE
-----------------------------------------------------------------------------------------------------------
$.001  par  value        3,000,000              $.30 (1)              $900,000                   $114.03
common stock
-----------------------------------------------------------------------------------------------------------

TOTALS                   3,000,000                                    $900,000                   $114.03
(1)     This  calculation  is  made  solely  for the purposes of determining the
registration  fee pursuant to the provisions of Rule 457(c) under the Securities
Act  of  1933,  as amended, and is calculated on the basis of the average of the
high  and low prices reported on the OTC Bulletin Board as of November 16, 2004.
PROSPECTUS

                    Pingchuan Pharmaceutical, Inc.

                   3,000,000 Shares of Common Stock

     This  prospectus relates to the offer and sale by Pingchuan Pharmaceutical,
Inc.,  a  North  Carolina corporation ("Pingchuan Pharmaceutical"), of 3,000,000
shares  of  its  $.001  par  value  per share common stock to certain employees,
officers,  directors  and consultants (the "consultants") pursuant to consulting
agreements  and  the  2004  Non-Qualified  Stock  Compensation  Plan (the "Stock
Plan").  Pursuant  to  the  Stock Plan and the consulting agreements, in payment
for  services  rendered,  Pingchuan  Pharmaceutical is registering hereunder and
then  issuing,  upon  receipt  of  adequate  consideration  therefore,  to  the
consultants  and  persons  covered by the Stock Plan, 3,000,000 shares of common
stock.

     The  common  stock  is  not  subject to any restriction on transferability.
Recipients  of  shares  other  than  persons  who  are "affiliates" of Pingchuan
Pharmaceutical  within the meaning of the Securities Act of 1933 (the "Act") may
sell  all  or part of the shares in any way permitted by law, including sales in
the  over-the-counter  market at prices prevailing at the time of such sale.  An
affiliate  is  summarily,  any  director,  executive  officer  or  controlling
shareholder  of  Pingchuan  Pharmaceutical  or  any one of its subsidiaries.  An
"affiliate"  of  Pingchuan  Pharmaceutical  is  subject  to Section 16(b) of the
Securities  Exchange  Act  of  1934,  as  amended  (the  "Exchange  Act").  If a
consultant  who  is  not  now an "affiliate" becomes an "affiliate" of Pingchuan
Pharmaceutical  in  the future, he/she would then be subject to Section 16(b) of
the  Exchange  Act.  The  common stock is traded on the OTC Bulletin Board under
the  symbol  "PGCN."

THESE  SECURITIES  HAVE  NOT  BEEN  APPROVED  OR  DISAPPROVED  BY THE SECURITIES
ANDEXCHANGE  COMMISSION  NOR  HAS  THE  COMMISSION  PASSED  UPON THE ACCURACY OR
ADEQUACY  OF  THIS  PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.

                The date of this prospectus is November 18, 2004
This  prospectus  is part of a registration statement which was filed and became
effective  under  the Securities Act of 1933, as amended (the "Securities Act"),
and  does  not  contain  all  of  the  information set forth in the registration
statement, certain portions of which have been omitted pursuant to the rules and
regulations  promulgated  by  the  U.S.  Securities and Exchange Commission (the
"Commission") under the Securities Act.  The statements in this prospectus as to
the  contents  of any contracts or other documents filed as an exhibit to either
the registration statement or other filings by Pingchuan Pharmaceutical with the
Commission  are  qualified  in  their  entirety  by  the  reference  thereto.

     A  copy  of  any document or part thereof incorporated by reference in this
prospectus  but  not  delivered  herewith  will be furnished without charge upon
written  or  oral  request.  Requests  should  be  addressed  to:  Pingchuan
Pharmaceutical,  32  Ganshui  Rd.,  Harbin, Heilongjiang, P.R. China.  Pingchuan
Pharmaceutical's  telephone  number  is  (86451)  8271-3712.

     Pingchuan  Pharmaceutical  is  subject to the reporting requirements of the
Exchange  Act  and  in  accordance therewith files reports and other information
with  the  Commission.  These  reports,  as  well  as  the  proxy  statements,
information  statements  and other information filed by Pingchuan Pharmaceutical
under  the  Exchange  Act  may  be  inspected and copied at the public reference
facilities  maintained  by  the Commission at 450 Fifth Street, N.W., Washington
D.C.  20549.

     No  person  has  been  authorized  to  give  any information or to make any
representation,  other than those contained in this prospectus, and, if given or
made, such other information or representation must not be relied upon as having
been  authorized  by  Pingchuan  Pharmaceutical.  This  prospectus  does  not
constitute  an  offer  or a solicitation by anyone in any state in which such is
not  authorized  or  in  which the person making such is not qualified or to any
person  to  whom  it  is  unlawful  to  make  an  offer  or  solicitation.

     Neither  the delivery of this prospectus nor any sale made hereunder shall,
under any circumstances, create any implication that there has not been a change
in  the  affairs  of  Pingchuan  Pharmaceutical  since  the  date  hereof.
TABLE OF CONTENTS

INFORMATION  REQUIRED  IN  THE  SECTION  10(A)  PROSPECTUS                     6

Item  1. The  Plan  Information                                                6

Item  2. Registrant Information and Employee Plan Annual Information           8

INFORMATION  REQUIRED  IN  THE  REGISTRATION  STATEMENT                        8

Item  3. Incorporation  of  Documents  by  Reference                           8

Item  4. Description  of  Securities                                           8

Item  5. Interests  of  Named  Experts  and  Counsel                           8

Item 6. Indemnification of Officers, Directors, Employees and Agents; Insurance9

Item  7. Exemption  from  Registration  Claimed                                9

Item  8. Exhibits                                                              9

Item  9. Undertakings                                                         10

SIGNATURES                                                                    12
PART 1
                         INFORMATION REQUIRED IN THE SECTION 10(A)
                                       PROSPECTUS

ITEM  1.  THE  PLAN  INFORMATION.

THE  COMPANY

     Pingchuan  Pharmaceutical has its principal executive offices at 32 Ganshui
Rd.,  Harbin,  Heilongjiang,  P.R.  China.  Pingchuan Pharmaceutical's telephone
number  is  (86451)  8271-3712.

PURPOSE

     Pingchuan  Pharmaceutical  will  issue  common  stock to certain employees,
officers,  directors  and  consultants pursuant to consulting agreements and the
Stock  Plan,  which  has  been  approved  by the Board of Directors of Pingchuan
Pharmaceutical.  The  agreements  and  the  Stock Plan are intended to provide a
method  whereby  Pingchuan  Pharmaceutical  may  be  stimulated  by the personal
involvement  of such employees, officers, directors and consultants in Pingchuan
Pharmaceutical's future prosperity, thereby advancing the interests of Pingchuan
Pharmaceutical and all of its shareholders.  The Stock Plan has been filed as an
exhibit  to  this  registration  statement.

COMMON  STOCK

     The  Board  has  authorized  the  issuance of up to 3,000,000 shares of the
common  stock to the certain employees, officers, directors and consultants upon
effectiveness  of  this  registration  statement.

THE  CONSULTANTS

     The  consultants  have  agreed  to  provide  their  expertise and advice to
Pingchuan  Pharmaceutical  for  the  purposes  set  forth  in  the  consulting
agreements.

NO  RESTRICTIONS  ON  TRANSFER

     The  employees,  officers, directors and consultants will become the record
and  beneficial  owners of the shares of common stock upon issuance and delivery
and  are entitled to all of the rights of ownership, including the right to vote
any  shares  awarded and to receive ordinary cash dividends on the common stock.

TAX  TREATMENT  TO  THE  RECIPIENTS

     The  common  stock  is  not  qualified under Section 401(a) of the Internal
Revenue  Code.  The  employees,  officers, directors and consultants, therefore,
will  be  required  for  federal  income  tax purposes to recognize compensation
during  the  taxable  year  of  issuance  unless  the  shares  are  subject to a
substantial  risk  of  forfeiture.  Accordingly,  absent  a specific contractual
provision  to  the contrary, the recipients will receive compensation taxable at
ordinary  rates  equal  to  the  fair  market value of the shares on the date of
receipt  since  there  will  be  no  substantial  risk  of  forfeiture  or other
restrictions  on transfer.  If, however, the recipients receive shares of common
stock  pursuant  to  the  exercise  of an option or options at an exercise price
below  the  fair  market  value  of  the  shares  on  the  date of exercise, the
difference  between the exercise price and the fair market value of the stock on
the  date  of  exercise  will  be  deemed  compensation  for  federal income tax
purposes.  The  recipients  are  urged  to consult each of their tax advisors on
this  matter.  Further, if any recipient is an "affiliate," Section 16(b) of the
Exchange  Act  is  applicable  and  will  affect  the  issue  of  taxation.

TAX  TREATMENT  TO  THE  COMPANY

     The  amount  of  income recognized by any recipient hereunder in accordance
with  the  foregoing  discussion  will  be a tax deductible expense by Pingchuan
Pharmaceutical  for federal income tax purposes in the taxable year of Pingchuan
Pharmaceutical  during  which  the  recipient  recognizes  income.

RESTRICTIONS  ON  RESALES

     In  the event that an affiliate of Pingchuan Pharmaceutical acquires shares
of common stock hereunder, the affiliate will be subject to Section 16(b) of the
Exchange  Act.  Further,  in  the  event  that  any  affiliate  acquiring shares
hereunder  has  sold  or  sells  any  shares  of  common stock in the six months
preceding  or following the receipt of shares hereunder, any so called "profit,"
as  computed  under  Section  16(b) of the Exchange Act, would be required to be
disgorged  from  the  recipient  to Pingchuan Pharmaceutical.  Services rendered
have  been  recognized  as  valid  consideration for the "purchase" of shares in
connection  with  the  "profit"  computation under Section 16(b) of the Exchange
Act.  Pingchuan  Pharmaceutical  has agreed that for the purpose of any "profit"
computation  under  16(b),  the  price  paid  for  the  common  stock  issued to
affiliates  is  equal to the value of services rendered.  Shares of common stock
acquired  hereunder  by persons other than affiliates are not subject to Section
16(b)  of  the  Exchange  Act.
ITEM  2.  REGISTRANT  INFORMATION  AND  EMPLOYEE  PLAN  ANNUAL  INFORMATION

     A  copy  of  any document or part thereof incorporated by reference in this
registration  statement  but  not delivered with this prospectus or any document
required  to  be delivered pursuant to Rule 428(b) under the Securities Act will
be  furnished  without  charge upon written or oral request.  Requests should be
addressed  to:  Pingchuan  Pharmaceutical, 32 Ganshui Rd., Harbin, Heilongjiang,
P.R.  China,  where  its  telephone  number  is  (86451)  8271-3712.

                                    PART II
               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM  3.  INCORPORATION  OF  DOCUMENTS  BY  REFERENCE.

     The  following  documents filed with the Securities and Exchange Commission
(the  "Commission")  by  Pingchuan  Pharmaceutical, Inc. f/k/a Xenicent, Inc., a
North  Carolina  corporation  (the  "Company"),  are  incorporated  herein  by
reference:

(a)     The  Company's  latest Annual Report on Form 10-KSB/A for the year ended
December  31, 2003, filed with the Securities and Exchange Commission on October
25,  2004;

(b)     The  reports  of the Company filed pursuant to Section 13(a) or 15(d) of
the  Securities  Exchange Act of 1934, as amended (the "Exchange Act") since the
fiscal  year  ended  December  31,  2003;

(c)     A  description  of  the  Company's common stock as contained in its
Form SB-2, filed December 21, 2000 (File No. 333-52472), including any amendment
or  report  filed  for  the  purpose  of  updating  such  description;  and

(d)     All  other  documents  filed  by  the  Company  after  the  date of this
registration  statement  pursuant  to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange  Act,  prior  to  the  filing  of  a  post-effective  amendment to this
registration  statement  which  indicates  that all securities offered have been
sold or which de-registers all securities then remaining unsold, shall be deemed
to  be incorporated by reference in this registration statement and to be a part
hereof  from  the  date  of  filing  such  documents
..
ITEM  4.  DESCRIPTION  OF  SECURITIES.

     Not  applicable.

ITEM  5.  INTERESTS  OF  NAMED  EXPERTS  AND  COUNSEL.

     The  financial  statements  of Pingchuan Pharmaceutical are incorporated by
reference  in this prospectus as of and for the year ended December 31, 2003 and
have  been  audited by Perrella & Associates, P.A., independent certified public
accountants,  as set forth in their report incorporated herein by reference, and
are  incorporated  herein in reliance upon the authority of said firm as experts
in  auditing  and  accounting.

ITEM 6. INDEMNIFICATION OF OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS; INSURANCE.

     Under  North  Carolina  law,  a  corporation  may  indemnify its directors,
officers,  employees  and  agents  under  certain  circumstances,  including
indemnification  of  such  persons against liability under the Securities Act of
1933,  as  amended.  Those  circumstances  include  that  a  director,  officer,
employee  or  agent  may  be indemnified if the person conducted himself in good
faith  and  he reasonably believed that his conduct was in the best interests of
the  corporation.  A  true  and correct copy of Section 55-8-51 of Chapter 55 of
the  North  Carolina General Statutes, also known as the North Carolina Business
Corporation  Act,  that  addresses  indemnification  of  directors,  officers,
employees  and  agents  is  attached  hereto  as  Exhibit  99.1.

     The  bylaws of Pingchuan Pharmaceutical provide for indemnification of each
person  (including  the  heirs,  executors,  administrators,  or  estate of such
person)  who  is or was a director and officer of the corporation to the fullest
extent  permitted  or authorized by current or future legislation or judicial or
administrative  decision  against  all  fines,  liabilities, costs and expenses,
including  attorneys'  fees,  arising  out  of  his or her status as a director,
officer,  agent,  employee  or  representative.  The  foregoing  right  of
indemnification shall not be exclusive of other rights to which those seeking an
indemnification may be entitled.  The corporation may maintain insurance, at its
expense,  to  protect  itself  and  all  officers  and  directors against fines,
liabilities,  costs, and expenses, whether or not the corporation would have the
legal  power  to  indemnify  them  directly  against  such  liability.

     Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors, officers or persons controlling an issuer
pursuant to the foregoing provisions, the opinion of the Commission is that such
indemnification  is  against public policy as expressed in the Securities Act of
1933  and  is  therefore  unenforceable.

     The  effect  of  these  provisions  may be to limit the rights of Pingchuan
Pharmaceutical  and  its stockholders (through stockholders' derivative suits on
behalf  of  Pingchuan  Pharmaceutical)  to recover monetary damages and expenses
against  a  director  for  breach  of  fiduciary  duty.

ITEM  7.  EXEMPTION  FROM  REGISTRATION  CLAIMED.

     Not  applicable.

ITEM  8.  EXHIBITS.

     (a)     The  following  exhibits  are  filed  as  part of this registration
statement  pursuant  to  Item  601  of  the  Regulation S-K and are specifically
incorporated  herein  by  this  reference:

Exhibit  No.     Title
-----------      ------------------------------------------------------------

5.1              Legal  opinion  of  Law  Offices  of  Harold  H.  Martin,  P.A.

10.1             2004  Non-Qualified  Stock  Plan

23.1             Consent of  Law Offices of Harold H. Martin, P.A. (included in
                 Exhibit 5.1)

23.2             Consent  of  Perrella  &  Associates,  P.A.

99.1             Section  55-8-51  of  North  Carolina  General  Statutes

ITEM  9.  UNDERTAKINGS.

     The  undersigned  registrant  hereby  undertakes:

     (1)  To  file, during any period in which offers or sales are being made, a
          post-effective  amendment  to  this  registration  statement  to:

          (i)  include  any  prospectus  required  by  Section  10(a)(3)  of the
               Securities  Act  of  1933;

          (ii) reflect  in  the prospectus any facts or events arising after the
               effective  date of the registration statement (or the most recent
               post-effective  amendment  thereof) which, individually or in the
               aggregate, represents a fundamental change in the information set
               forth  in  the  registration  statement;

         (iii) include  any  material  information  with  respect to the plan of
               distribution  not  previously  disclosed  in  this  registration
               statement  or  any  material  change  to such information in this
               registration  statement.

          Provided,  however, that paragraphs (1)(i) and (1)(ii) shall not apply
          if  the  registration  statement is on Form S-3, Form S-8 or Form F-3,
          and  the  information  required  to  be  included  in a post-effective
          amendment  by  those paragraphs is contained in periodic reports filed
          by  the  registrant  pursuant  to  section  13 or section 15(d) of the
          Securities  Exchange Act of 1934 that are incorporated by reference in
          the  registration  statement.

     (2)  That,  for  the  purpose  of determining any liability pursuant to the
          Securities  Act, each such post-effective amendment shall be deemed to
          be  a  new  registration  statement relating to the securities offered
          therein,  and  the  offering  of  such securities offered at that time
          shall  be  deemed  to  be  the  initial  bona  fide  offering thereof.

     (3)  To remove from registration by means of a post-effective amendment any
          of  the  securities  being  registered  which  remain  unsold  at  the
          termination  of  the  offering.

     (4)  To  deliver  or  cause  to  be  delivered with the prospectus, to each
          person  to  whom  the  prospectus  is sent or given, the latest annual
          report  to  security  holders that is incorporated by reference in the
          prospectus  and  furnished pursuant to and meeting the requirements of
          Rule  14a-3  or  Rule 14c-3 under the Securities Exchange Act of 1934;
          and,  where  interim financial information required to be presented by
          Article  3  of  Regulation  S-X is not set forth in the prospectus, to
          deliver,  or  cause  to  be  delivered  to  each  person  to  whom the
          prospectus  is  sent  or  given,  the  latest quarterly report that is
          specifically  incorporated  by  reference in the prospectus to provide
          such  interim  financial  information.

     (5)  Insofar  as  indemnification  for  liabilities  arising  under  the
          Securities Act may be permitted to directors, officers and controlling
          persons  of  registrant  pursuant  to  the  foregoing  provisions,  or
          otherwise,  registrant  has  been  advised  that in the opinion of the
          Securities  and  Exchange  Commission  such indemnification is against
          public  policy  as  expressed  in the Securities Act and is therefore,
          unenforceable.  In  the event that a claim for indemnification against
          such  liabilities  (other  than  the payment by registrant of expenses
          incurred  or  paid  by  a  director,  officer or controlling person of
          registrant  in  the  successful  defense  of  any  action,  suit  or
          proceeding)  is  asserted  by  such  director,  officer or controlling
          person  in connection with the securities being registered, registrant
          will, unless in the opinion of its counsel the matter has been settled
          by  controlling  precedent,  submit  to  a  court  of  appropriate
          jurisdiction  the  question  whether  such  indemnification is against
          public  policy  as  expressed  in  the Act and will be governed by the
          final  adjudication  of  such  issue.

     The  undersigned  hereby  undertakes  that, for purposes of determining any
liability  under  the Securities Act of 1933, each filing of registrant's annual
report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act
of 1934 (and, where applicable, each filing of an employee benefit plan's annual
report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is
incorporated  by reference in the registration statement shall be deemed to be a
new  registration  statement relating to the securities offered therein, and the
offering  of such securities at that time shall be deemed to be the initial bona
fide  offering  thereof.
SIGNATURES

     Pursuant  to the requirements of the Securities Act of 1933, the Registrant
certifies  it  has  reasonable  grounds  to  believe  that  it  meets all of the
requirements  for  filing  on  Form  S-8  and  has duly caused this registration
statement  to  be  signed  on  its  behalf  by  the  undersigned, thereunto duly
authorized  in  the  city  of Fort Lauderdale, State of Florida, on November 18,
2004.

                                          Pingchuan  Pharmaceutical
                                        (Registrant)

                                         /s/  Zhanwu  Hu
                                        --------------------
                                        Zhanwu  Hu
                                       Chairman  and  President

     Pursuant  to  the  requirements  of  the  Securities  Act  of  1933,  this
registration  statement  has  been  signed  by  the  following  persons  in  the
capacities  and  on  the  date  indicated.
SIGNATURES                        TITLE                                 DATE
---------------------------------------------------------------------------------------------------
/s/  Zhanwu  Hu                Chairman  and  President               November 18, 2004
                Zhanwu  Hu

           /s/  Qitai  Yao                Director  and  Chief                   November 18, 2004
                Qitai  Yao                 Executive Officer

           /s/  Yi  Xiao
                Yi  Xiao                  Director,  Vice President              November 18, 2004
                                           and Vice General Manager

           /s/  Xichen  Gao
                Xichen  Gao               Director,  Vice  President             November 18, 2004
                                           and Vice General Manager

           /s/  Chunli  Li
                Chunli Li                 Director, Vice President
                                           and Vice General Manager              November 18, 2004