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South China Holdings Company Limited ("SCHC") was established in 1976 under the name of Wah Shing Toys to manufacture toy components and complete toys. It was listed in 1984 by offering 62m shares to the public.
In 1990, the Company acquired a 30% stake in Nority International, a manufacturer and exporter of branded leisure shoes. Nority was listed on the Hong Kong Stock Exchange in February 1993. SCHC subsequently increased its stake in Nority to 35%.
In 1991, South China Holdings Limited acquired a 31.8% stake in Wah Shing Toys and the Company was renamed South China Industries Limited. The Company began to invest in China in 1993 by setting up various joint ventures to manufacture shoes and electronic products. In 1995, the toy manufacturing and trading business was realigned under a new holding company, Wah Shing International Holdings Limited ("WSIH"), which was separately listed in Singapore. In order to consolidate its manufacturing operations, the Company privatised WSIH and took control of Nority in 2006. The stake in Nority was eventually sold in 2007.
The group had started making a foray into the agricultural sector as early as 1993, by acquiring farmlands in Guangdong Province and invested in winter dates plantation in Hebei Province and fish rearing lakes in Nanjing. In 2007, the Company added acreage in Chongqing for forestry and fruit tree plantation.