Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

                                 March 18, 2008
                Date of Report (Date of earliest event reported)

                                SOYO GROUP, INC.
             (Exact name of registrant as specified in its charter)

         Nevada                       333-42036                   95-4502724
----------------------------   ------------------------      -------------------
(State or other jurisdiction   (Commission File Number)         (IRS Employer
    of incorporation)                                        Identification No.)

                            1420 South Vintage Avenue
                         Ontario, California 91761-3646
          (Address of principal executive offices, including zip code)

                                 (909) 292-2500
              (Registrant's telephone number, including area code)

          (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:

[ ]  Written communications pursuant to Rule 425 under the Securities Act

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act

[ ]  Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act

[ ]  Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act

Item 4.02 Non Reliance on Previously  Issued  Financial  Statements or a Related
          Audit or Completed Interim Review

On or about March 18, 2008,  SOYO Group Inc.  (the  "Company")  determined  that
certain items on the audited  consolidated  financial  statements of the Company
included in the Company's Form 10-K/A for the year ended December 31, 2006 filed
on August 7, 2007 should no longer be relied upon based on reasons as  described

Soyo Group,  Inc. (the  "Company") is filing this  Amendment No. 2 to its Annual
Report on Form 10-K for the year ended  December 31 2006 (the "December 31, 2006
10-K"),  which was originally  filed on March 30, 2007, and amended on August 7,
2007.  This  Amendment No. 2 is being filed to restate the  Company's  financial
statements for the year ended December 31 2006,  which  overstated  total assets
and net income.

Nancy Chu, CFO, communicated to our independent auditors, Vasquez & Company LLP,
management and our Audit Committee that the Company  inadvertently made an error
in  preparing  the  financial  statements.  In 2006,  the Company  recognized  a
deferred  income  tax  asset  in  reflecting  the net tax  effect  of  temporary
differences between the carrying amounts of assets and liabilities for financial
reporting  purposes and the amounts used for income tax purposes.  The resulting
deferred  tax  asset  was  carried  on the  Company's  balance  sheet  without a
valuation allowance.  The Company now believes that the appropriate treatment of
the asset includes a valuation  allowance to reduce the carrying amount to zero.
The additional income taxes payable have been recorded as an accrued liability.

The  Company's CEO and CFO agreed to restate the  financial  statements  for the
period and have filed the amended Form 10-K.

The Company has discussed the matters  disclosed under Item 4.02 in this current
report on Form 8-K with Vasquez & Co., LLP, the Company's independent registered
public accounting firm.


     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.

                                            SOYO GROUP, INC.

Date:  March 18, 2008                       By:    /s/ MING CHOK
     ----------------                          ---------------------------
                                               Ming Chok, CEO

Date:  March 18, 2008                       By:    /s/ NANCY CHU
     ----------------                          ---------------------------
                                               Nancy Chu, CFO