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 competitive pattern as having production in Shenzhen and operation in Hong Kong. In May 1992, VO Tex took the lead in reforming a public company in textile industry of PRC and issued its Share A & Share B.

With the joint efforts of all its staff VO Tex has achieved good results economically and socially since its establishment. This Company has been among the 500 largest industrial enterprises for 4 successive years, the 300 largest foreign investment enterprises and 200 largest textile enterprises for 5 successive years, and has been on top of the list in textile industry in terms of foreign currency earned through its exports. The successful operation of this Company leads to the vigorous development of textile industry in Shenzhen, thus making its great contribution to the city..

There are 420 employees in VO Tex with its two subsidiaries, i.e., VO P&D Factory and VO Printing & Dyeing (HK) Co., Ltd., three holding enterprises, i.e., Shenzhen South China Printing a nd Dyeing Co., Ltd., Shenzhen Union Heater Printing and Dyeing Co., Ltd. and Shenzhen United Fashion Co., Ltd., and two mutual share enterprises, i.e., Shanghai Shengguan Real Estate Co., Ltd. and Shenzhen China Crown Trading Co., Ltd. VO Tex has thus been the largest group of textile enterprises in South China.

In face of the new opportunities that will come along with the new century and especially with China's prospective entry into the WTO, VO Tex is confident that it will keep up the enterprise spirit of "strictness, diligence, realism and innovation", and persist in the principle of "quality first, customers first and creditability first" by strengthening management and speeding up its production and moving onto the track of group operation, intensive production and modernizing management in order to achieve a higher level of economic results.