Huayue Electronics (GREY:HUAY)

HTF is a provider of special-use applications software and management-information systems integration services in the PRC, and develops and produces four kinds of specialized software products: Housing Accumulation Fund software, Credit Guarantee management software, family planning software and property management software. Of these four products, Housing Accumulation Fund software and Credit Guarantee software are the major contributors to our revenue.

HTF has also been in the business of providing value-added systems integration services pursuant to its strategic alliances with other software companies. In 2008, HTF’s strategic alliance with Lenovo ended when the cooperation agreement between the two parties expired and was not renewed. As a result, we do not expect to have any significant revenue from our systems integration services for the indefinite future.

On August 15, 2005, the Company became a wholly owned subsidiary of American Wenshen Steel (OTC BB:AWSH).

Effective July 30, 2007, the company changed its fiscal year from December 31 to September 30.
 
As of March 31, 2009, American Wenshen Steel Group, Inc. distributed all of the 29,910,000 currently outstanding common stock of HXT Holdings to its stockholders. There were no proceeds from the distribution and neither American Wenshen nor HXT Holdings received any consideration in exchange for the shares distributed.
 
After the distribution, the Company is no longer a subsidiary of American Wenshen. The Company will continue to be engaged indirectly in the specialized software industry in the People’s Republic of China through its indirectly wholly owned subsidiary, Shenzhen Hengtaifeng Technology Co., Ltd.

Going Public Details