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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
        AND EXCHANGE COMMISSION</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WASHINGTON,
        D.C. 20549</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM
        8-K</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
        REPORT</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
        TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
        of
        Report: August 31, 2006</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">HARBIN
        ELECTRIC, INC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
        name of registrant as specified in its charter)</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nevada</font></div>
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        9, Ha
        Ping Xi Lu, Ha Ping Lu Ji Zhong Qu</font></div>
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        the
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        Fund
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                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
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                  Electric Closes $50.0 Million Financing, Proceeds to Support Numerous
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                  dated August 31, 2006.</font></div>
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            <tr bgcolor="white">
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              <td width="25%">&#160;</td>
              <td width="25%">&#160;

                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">August
                  31, 2006</font></div>
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                  Electric, Inc.</u></em></font></div>
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              <td width="25%">&#160;</td>
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              <td width="25%">&#160;</td>
              <td width="25%"><font size="2">By: <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                Tianfu Yang</u></font></font></td>
              <td width="25%">&#160;</td>
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              <td width="25%">&#160;</td>
              <td width="25%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font size="2">Tianfu
                  Yang</font></div>
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              <td width="25%">&#160;</td>
              <td width="25%">&#160;</td>
              <td width="25%"><font size="2">Chief Executive Officer</font></td>
              <td width="25%">&#160;</td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
        INDEX</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
                  Number</strong></font></div>
              </td>
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              <td align="left" valign="top" width="41%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Description</strong></font></div>
              </td>
              <td align="justify" valign="top" width="4%">&#160;</td>
              <td align="justify" valign="top" width="26%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Method
                  of Filing</strong></font></div>
              </td>
            </tr>
            <tr>
              <td align="justify" valign="top" width="10%">&#160;</td>
              <td align="justify" valign="top" width="3%">&#160;</td>
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              <td align="justify" valign="top" width="4%">&#160;</td>
              <td align="justify" valign="top" width="26%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="10%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
              </td>
              <td align="left" valign="top" width="3%">&#160;</td>
              <td align="left" valign="top" width="41%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18.6pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                  release entitled, &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Harbin
                  Electric Closes $50.0 Million Financing, Proceeds to Support Numerous
                  Growth Initiatives</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,&#8221;
                  dated August 31, 2006.</font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="26%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Filed
                  herewith as Exhibit 99.1</font></div>
              </td>
            </tr>

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{"company-data": {"conformed-name": "Harbin Electric, Inc", "cik": "0001266719", "assigned-sic": "3621", "irs-number": "980403396", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51006", "film-number": "061066734"}, "business-address": {"street1": "NO. 9, HA PING XI LU", "street2": "HA PING LU JI ZHONG QU HARBIN KAI FA QU", "city": "HARBIN", "state": "F4", "zip": "150001", "phone": "86 45182621768"}, "mail-address": {"street1": "NO. 9, HA PING XI LU", "street2": "HA PING LU JI ZHONG QU HARBIN KAI FA QU", "city": "HARBIN", "state": "F4", "zip": "150001"}, "former-company": {"former-conformed-name": "TORCH EXECUTIVE SERVICES LTD", "date-changed": "20031009"}}
SECURITIES
        AND EXCHANGE COMMISSION
WASHINGTON,
        D.C. 20549
FORM
        8-K
CURRENT
        REPORT
PURSUANT
        TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date
        of
        Report: August 31, 2006
HARBIN
        ELECTRIC, INC.
(Exact
        name of registrant as specified in its charter)
Nevada
000-51006
98-0403396
(State
                  or other Jurisdiction of Identification Incorporation)
(Commission
                  File Number)
(IRS
                  Employer No.)
No.
        9, Ha
        Ping Xi Lu, Ha Ping Lu Ji Zhong Qu
Harbin
        Kai Fa Qu, Harbin, 150060, China
(Address
        of Principal Executive Offices)
86-451-86116757
(Registrant's
        Telephone Number, including Area Code)
Not
        Applicable
(Former
        name or former address, if changed since last report)
Check
        the
        appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following
        provisions (see General Instruction A.2. below):
[
                  ]
Written
                  communications pursuant to Rule 425 under the Securities Act (17
                  CFR
                  230.425)
[
                  ]
Soliciting
                  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                  240.14a-12)
[
                  ]
Pre-commencement
                  communications pursuant to Rule 14d-2(b) under the Exchange Act
                  (17 CFR
                  240.14d-2(b))
[
                  ]
Pre-commencement
                  communications pursuant to Rule 13e-4(c) under the Exchange Act
                  (17 CFR
                  240.13e-4(c))
Item
        8.01
Other
        Events
On
        August
        31, 2006, Harbin Electric, Inc. (the "Company") issued a press release
        announcing the closing of a US$50.0 million financing with Citadel Equity
        Fund
        Ltd. and Merrill Lynch International, pursuant to an indicative financing
        term
        sheet dated as of August 2, 2006. The financing consisted of $50.0 million
        aggregate principal amount of guaranteed senior secured floating rate notes
        due
        in 2010 and 2012 and warrants to purchase up to approximately 3.5 million
        shares
        of the Company's common stock at exercise prices of $7.80 and $10.84 per share.
        A copy of the press release is attached as Exhibit 99.1 to this current report
        and is incorporated herein by reference.
Item
        9.01
Financial
        Statements and Exhibits
(d)
        Exhibits.
Exhibit
        No
.
Description
99.1
Press
                  release entitled, "
Harbin
                  Electric Closes $50.0 Million Financing, Proceeds to Support Numerous
                  Growth Initiatives
,"
                  dated August 31, 2006.
2
SIGNATURE
Pursuant
        to the requirements of the Securities Exchange Act of 1934, the Registrant
        has
        duly caused this report to be signed on its behalf by the undersigned, hereunto
        duly authorized.
Date:
August
                  31, 2006
Harbin
                  Electric, Inc.
(Registrant)
By:
/s/
                Tianfu Yang
Tianfu
                  Yang
Chief Executive Officer
3
EXHIBIT
        INDEX
Exhibit
                  Number
Description
Method
                  of Filing
99.1
Press
                  release entitled, "
Harbin
                  Electric Closes $50.0 Million Financing, Proceeds to Support Numerous
                  Growth Initiatives
,"
                  dated August 31, 2006.
Filed
                  herewith as Exhibit 99.1
4