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Note 1 - Organization and Principal Activities
6 Months Ended
Jun. 30, 2013
Notes  
Note 1 - Organization and Principal Activities

NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES

 

China Shianyun Group Corp., Ltd., a Nevada Corporation, was incorporated on August 17, 2006 under the name of Glance, Inc. On January 21, 2009, we changed our name to China Green Creative, Inc (“CGC”). CGC and its subsidiaries (collectively known as the “Company”) are principally engaged in the distribution of consumer goods in the People’s Republic of China (“China” or the “PRC”).

 

As of June 30, 2013, the details of the Company’s subsidiaries are summarized as follows:

 

 

Name

Domicile and date of incorporation

Paid-in capital

Effective ownership

Principal activities

 

 

 

 

 

Plenty Fame Holding, Limited (“Plenty Fame”)

British Virgin Islands (the “BVI”) January 18, 2008

$50,000

100%

Investment holding

 

 

 

 

 

Prospect Hong Kong Development Limited (“Prospect”)

Hong Kong Special Administrative Region (“HKSAR”) October 17, 2008

HK$10,000

100%

Investment holding

 

 

 

 

 

Jiangxi Jien Industries Limited (“Jiangxi Jien”)

The PRC April 8, 1997

RMB16,000,000

100%

Sale of consumer products in the PRC.

 

 

 

 

 

Shenzhen Jien Electronic Commerce Company Limited (“Shenzhen Jien”)

The PRC April 13, 2009

RMB3,000,000

100%

Management of regional distribution rights and provision of related services.

 

 

 

 

 

On July 26, 2013, we purchased one hundred shares of common stock of China Shianyun Group Corp., Ltd, a Nevada corporation, representing all of its authorized shares, for $1,354, causing China Shianyun Group Corp., Ltd to become a wholly owned subsidiary of the Company (“Merger Sub”). Immediately following the acquisition, Merger Sub was merged with and into us, effective as of July 26, 2013. As a result of the merger, our corporate name was changed to “China Shianyun Group Corp., Ltd.”  Prior to the merger, Merger Sub had no liabilities and nominal assets and, as a result of the merger, the separate existence of the Merger Sub ceased.  We are the surviving corporation in the merger and, except for the name change provided for in the Agreement and Plan of Merger, there was no change in our directors, officers, capital structure or business.