-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, D6o1VePkUptTU4r6jaXDTBdoAk5fL6B/Jrc8oU1C/fp+Osn8VA6KzFUDfbMfHmop VZFTcIz357J4RhnNZnYhgw== 0001145549-03-000469.txt : 20030429 0001145549-03-000469.hdr.sgml : 20030429 20030429123734 ACCESSION NUMBER: 0001145549-03-000469 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030429 GROUP MEMBERS: CLARENCE SAI YEE CHAN GROUP MEMBERS: KEITH YAT CHOR WONG FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: POWERTRONIC HOLDINGS LTD CENTRAL INDEX KEY: 0001227201 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 240 CLARKE PLACE CITY: RICHMOND BC STATE: A1 ZIP: V6V 2MB BUSINESS PHONE: 6042704670 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CHINA WORLD TRADE CORP CENTRAL INDEX KEY: 0001081834 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 870629754 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-59499 FILM NUMBER: 03668555 BUSINESS ADDRESS: STREET 1: GOLDION DIGITAL NETWORK CENTER STREET 2: 138 TI YU RD. E. 4TH FL CITY: TIAN HE GUANGZHOU STATE: K3 ZIP: 00000 BUSINESS PHONE: 01185298826818 MAIL ADDRESS: STREET 1: GOLDION DIGITAL NETWORK CENTER STREET 2: 138 YI TU RD E. CITY: TIAN HE GUANGHOU STATE: K3 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: TXON INTERNATIONAL DEVELOPMENT CORP DATE OF NAME CHANGE: 19990329 SC 13D 1 u98445sc13d.txt POWERTRONIC HOLDINGS LIMITED ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. ________)* CHINA WORLD TRADE CORPORATION ------------------------------------------------ (Name of Issuer) Common Stock $0.001 Par value Per Share ------------------------------------------------ (Title of Class of Securities) 90210R305 ------------------------------------------------ (CUSIP Number) Powertronic Holdings Limited 240-283 Clarke Place Richmond, B.C. Canada V6V 2H5 With a copy to: Heller Ehrman White & McAuliffe, LLP Room 6308-6309, 63rd Floor, The Center 99 Queen's Road Central Hong Kong Tel.: (852) 2526 6381 =------------------------------------------------------ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 24, 2003 ------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ] NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Section 240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). ================================================================================ - ----------------------------------------- CUSIP No. 90210R305 - ----------------------------------------- - --------------------------------------------------------------------------------------------------- 1 Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Powertronic Holdings Limited. I.R.S. Identification No. not applicable - --------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [X] - --------------------------------------------------------------------------------------------------- 3 SEC Use Only - --------------------------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) 00 - --------------------------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): [ ] - --------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization The British Virgin Islands - --------------------------------------------------------------------------------------------------- Number of 7 Sole Voting Power: Shares Beneficially Owned by -------------------------------------------------------------------------------- Each 8 Shared Voting Power 6,000,000 Reporting (includes Shares of Common Stock issuable upon exercise Person With of 4,000,000 warrants) -------------------------------------------------------------------------------- 9 Sole Dispositive Power: -------------------------------------------------------------------------------- 10 Shared Dispositive Power 6,000,000 (includes Shares of Common Stock issuable upon exercise of 4,000,000 warrants) - --------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 6,000,000 Shares - --------------------------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares: (See Instructions) [ ] - --------------------------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 31.57% - --------------------------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions) CO - ---------------------------------------------------------------------------------------------------
2 - ----------------------------------------- CUSIP No. 90210R305 - ----------------------------------------- - --------------------------------------------------------------------------------------------------- 1 Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Keith Yat Chor Wong; I.R.S. Identification No. not applicable - --------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [X] - --------------------------------------------------------------------------------------------------- 3 SEC Use Only - --------------------------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) PF - --------------------------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): [ ] - --------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Canada - --------------------------------------------------------------------------------------------------- Number of 7 Sole Voting Power: Shares Beneficially Owned by -------------------------------------------------------------------------------- Each 8 Shared Voting Power 3,000,000 Reporting (includes Shares of Common Stock issuable upon exercise Person With of 2,000,000 warrants) -------------------------------------------------------------------------------- 9 Sole Dispositive Power: -------------------------------------------------------------------------------- 10 Shared Dispositive Power 3,000,000 (includes Shares of Common Stock issuable upon exercise of 2,000,000 warrants) - --------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,000,000 Shares - --------------------------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares: (See Instructions) [ ] - --------------------------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 15.79% - --------------------------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions) IN - ---------------------------------------------------------------------------------------------------
3 - ----------------------------------------- CUSIP No. 90210R305 - ----------------------------------------- - --------------------------------------------------------------------------------------------------- 1 Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Clarence Sai Yee Chan. I.R.S. Identification No. not applicable - --------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [X] - --------------------------------------------------------------------------------------------------- 3 SEC Use Only - --------------------------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) PF - --------------------------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): [ ] - --------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Canada - --------------------------------------------------------------------------------------------------- Number of 7 Sole Voting Power: Shares Beneficially Owned by -------------------------------------------------------------------------------- Each 8 Shared Voting Power 3,000,000 Reporting (includes Shares of Common Stock issuable upon exercise Person With of 2,000,000 warrants) -------------------------------------------------------------------------------- 9 Sole Dispositive Power: -------------------------------------------------------------------------------- 10 Shared Dispositive Power 3,000,000 (includes Shares of Common Stock issuable upon exercise of 2,000,000 warrants) - --------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,000,000 Shares - --------------------------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - --------------------------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 15.79% - --------------------------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions) IN - ---------------------------------------------------------------------------------------------------
4 STATEMENT TO SCHEDULE 13D ITEM 1. SECURITY AND ISSUER This statement relates to the Common Stock, par value US$0.001 per share (the "Shares") of China World Trade Corporation (the "Issuer"). The address of the principal executive office of the Issuer is 4th Floor, Goldlion Digital Network Center, 138 Tiyu Road East, Tianhe, Guangzhou, P.R.C. 510620. ITEM 2. IDENTITY AND BACKGROUND (a) This Schedule 13D is being filed by Powertronic Holdings Limited, a British Virgin Islands limited liability ("Powertronic"), Messrs. Keith Yat Chor Wong ("Mr. Wong") and Messrs. Clarence Sai Yee Chan ("Mr. Chan"), (sometimes referred to herein collectively as the "Reporting Persons"). Powertronic directly owns 6,000,000 Shares (includes 4,000,000 Shares of Common Stock issuable upon exercise of 4,000,000 warrants issued to Powertronic). Each of Mr. Wong and Mr. Chan is the indirect beneficial owner of the 3,000,000 Shares by virtue of their respective 50% ownership of the authorized and issued share capital of Powertronic. Mr. Wong and Mr. Chan are directors of Powertronic. (b) The Reporting Persons' business address is 240-283 Clarke Place, Richmond, B.C., Canada, V6V 2H5. (c) The Reporting Persons' principal occupation is private investment. (d) During the past five (5) years, the Reporting Persons have not been convicted in a criminal proceeding (excluding traffic violations as similar misdemeanors). (e) The Reporting Persons have not, during the last five (5) years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which they would have been subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws of finding any violation with respect to such laws. (f) Powertronic is a limited liability company established in the British Virgin Islands. Each of Mr. Wong and Mr. Chan is a Canadian citizen. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION On January 24, 2003, pursuant to a share purchase agreements dated September 3, 2002 and December 17, 2002, respectively, (collectively, the "Share Purchase Agreements"), entered into between Powertronic and the Issuer, Powertonic acquired 2,000,000 shares of common stock ("Shares") of the Company and warrants (the "Warrants") to purchase an additional 4,000,000 Shares. The Warrants are exercisable within two years of their issue at an exercise price of US$0.575 per Share The total purchase price for the 2,000,000 Shares and the 4,000,000 Warrants was US$1,000,000. The Shares and Warrants were acquired with personal funds from Mr. Wong and Mr. Chan. ITEM 4. PURPOSE OF TRANSACTION The Reporting Persons entered into the above mentioned transaction to acquire the Shares and the Warrants for investment purposes. The Shares and Warrants were acquired pursuant to the Share Purchase Agreements as described in Item 3 above. The Reporting Persons intends to review on a continuing basis their investment in the Issuer and may, depending upon the evaluation of his financial planning, upon the Issuer's business and prospects and upon future developments in general business, economic and market conditions, determine to increase, decrease or continue to hold or dispose of his position in the Issuer. 5 Except as set forth in the previous paragraphs, the Reporting Persons have no plans or proposals that relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Issuer's business or corporate structure; (d) any change in the present Board of Directors or management of the Issuer; (e) any material change in the present capitalization or dividend policy of the Issuer; (f) any other material change in the Issuer, involving the Issuer or any of its subsidiaries; (g) changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g) (4) of the Exchange Act; or (j) any action similar to any of those enumerated in (a) - (i) above. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a) As of January 24, 2003, each Reporting Person may be deemed to beneficially own shares of Common Stock as set forth in the following table:
Number of Share Percentage of Total --------------- ------------------- Powertronic 6,000,000 31.57% Keith Yat Chor Wong 3,000,000 15.79% Clarence Sai Yee Chan 3,000,000 15.79%
(b) The number of Shares which each Reporting Person has voting or dispositive power is set forth as follows: (1) Sole power to vote or to direct the vote: 0 shares for each of Powertronic, Mr. Wong and Mr. Chan. (2) Shared power to vote or direct the vote:
Reporting Person Number of Shares ---------------- ---------------- Powertronic 6,000,000 Mr. Wong 3,000,000 Mr. Chan 3,000,000
(3) Sole power to dispose or direct the disposition of: 0 shares for each of Powertronic, Mr. Wong and Mr. Chan. (4) Shared power to dispose or direct the disposition of:
Reporting Person Number of Shares ---------------- ---------------- Powertronic 6,000,000 Mr. Wong 3,000,000 Mr. Chan 3,000,000
(c) Except for the acquisition of the 2,000,000 Shares and 4,000,000 Warrants described in Item 3 above, the Reporting Persons have not engaged in any transactions with respect to any securities of the Issuer during the past sixty (60) days. (d) and (e) Not Applicable. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER Other than as described in Item 4 above, the Reporting Persons have no contracts, arrangements, understandings or relationships (legal or otherwise) with respect to any securities of the Issuer, including but not limited to transfer or voting of any of the securities, finder's fees, joint 6 ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
EXHIBIT NO. DESCRIPTION - ----------- ----------- 4.1* Share Purchase Agreement dated September 3, 2002, between the Issuer and Powertronic Holdings Limited; 4.2* Warrants dated January 24, 2003, issued by the Issuer to Powertronic Holdings Limited; 4.3* Share Purchase Agreement dated December 17, 2002, between the Issuer and Powertronic Holdings Limited 4.4* Warrants dated January 24, 2003, issued by the Issuer to Powertronic Holdings Limited
- -------------------------------------------------------------------------------- * Previously filed with the Securities and Exchange Commission as Exhibits to, and incorporated by reference from, the Issuer's Form 8-K filed on March 3, 2003. 7 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: April 1, 2003 Signature /s/ Keith Wong ----------------------------------- Name/Title: Director For and on behalf of Powertronic Holdings Limited By Keith Wong Dated: April 1, 2003 Signature /s/ Keith Wong ----------------------------------- Name/Title: Keith Yat Chor Wong Dated: April 2, 2003 Signature /s/ Clarence Chan ----------------------------------- Name/Title: Clarence Sai Yee Chan 8 -----END PRIVACY-ENHANCED MESSAGE-----