1996
Our first operating subsidiary, Qualiman Industrial Co. Limited, was incorporated. Qualiman Industrial Co. Limited entered into the first processing agreement dated 8 December 1996 with 佛山市南海區新和新美玩具廠 (Foshan City Nanhai District Xinhe Xinmei Toys Factory*) ("Processing Factory") pursuant to which our products were manufactured by the Processing Factory in return for processing fees paid by Qualiman Industrial Co. Limited.
