Annual Report 2016
137
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED MARCH 31, 2016
20. INVESTMENTS IN SUBSIDIARIES
– continued
Issued and
Place of
fully paid share
incorporation/
capital/
Proportion of
establishment and
registered
ownership and voting power
Name of subsidiary
operation
capital
held by the Company
Principal activities
Directly
Indirectly
2016
2015
2016
2015
%
%
%
%
Pinerise Limited
(b), (c)
BVI/PRC
US$1
–
–
100
100
Investment holding
Starling Pacific Limited
(b), (c)
BVI/Hong Kong
US$1
–
–
100
100
Investment holding
Valence Semiconductor
Hong Kong
HK$3,000,000
–
–
60
60
Design and trading of
Design Limited
(a), (i)
electronic components
Valence Technology
Hong Kong
HK$100,000
–
–
60
60
Provision of corporate
Limited
(a), (h)
management services
ValenceTech Limited
(g)
Bermuda/Hong Kong
HK$879,991
–
–
60
60
Investment holding
Willas Company Limited
(b), (c)
Hong Kong
HK$35,001,002
–
–
100
100
Inactive
Willas-Array Electronics
Hong Kong
HK$1,001,002
–
–
100
100
Trading of electronic
(Hong Kong) Limited
(a), (b), (c)
components
Willas-Array Electronics
PRC
US$7,000,000
–
–
100
100
Trading of electronic
(Shanghai) Limited
(a), (e), (j), (k)
components
Willas-Array Electronics
PRC
US$5,500,000
–
–
100
100
Trading of electronic
(Shenzhen) Limited
(a), (d), (j), (k)
components
Willas-Array Electronics
Taiwan/PRC
NT$1,000,000
–
–
100
100
Trading of electronic
(Taiwan) Inc.
(a), (c), (k)
components
Willas-Array Electronics
Hong Kong
HK$2
–
–
100
100
Provision of management
Management Limited
(a), (b), (c)
and consultancy services
Willas-Array Investments
Hong Kong
HK$2
–
–
100
100
Investment holding
Limited
(b), (c)
慧能思達科技(成都)
PRC
HK$2,000,000
N/A
–
N/A
60
Liquidated
有限公司
(i), (j), (k), (l)
