Shenzhen Victor Onward Textile Industrial Co., Ltd. (here-in-after referred to as the VO Tx) is a public company mainly held by the Union Developing Group of China Ltd., engaged in the production and processing of cotton, linen, polyester/cotton, linen/cotton, high-graded blending fabric and garment manufacture. All the products are exported to Hong Kong, Japan, Europe and America. The predecessor of VO Tx was New Nan Seng Dyeing Factory, established in 1980. It was the first foreign-owned enterprise in Shenzhen Special Economic Zone. In April 1984, the Union Developing Group of China Ltd. together with Shenzhen Textile Industry Company and 5 investors from Hong Kong purchased all the assets of New Nan Seng Dyeing Factory, and renamed it VO Tex. In the same year, VO Tex established a subsidiary company VO Printing & Dyeing (HK) Co., Ltd. in Hong Kong, forming such a competiti

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