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DESCRIPTION OF BUSINESS AND ORGANIZATION
6 Months Ended
Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
DESCRIPTION OF BUSINESS AND ORGANIZATION

NOTE –1 DESCRIPTION OF BUSINESS AND ORGANIZATION

 

King Resources, Inc. (the “Company”) was incorporated in the State of Delaware on September 8, 1995 under the name of ARXA International Energy, Inc. On June 4, 2001, the Company changed its name to King Resources, Inc. Currently, the Company through its subsidiaries, is engaged primarily in the development of smart power supply solutions and products in Hong Kong.

 

The Company is currently preparing to launch own brand products on online store and acting as distributor to sell several brands in Hong Kong.

 

Description of subsidiaries

                   
Name   Place of incorporation and kind of legal entity   Principal activities
and place of operation
  Particulars of registered/paid up share capital   Effective interest
held
 
Powertech Management Limited   British Virgin Islands   Investment holding   50,000 ordinary shares at par value of US$1     100%  
                     
Powertech Corporation Limited   Hong Kong   Provision of information technology services   10,000 ordinary shares for HK$10,000     100%  
                     
OneSolution Holdings Limited   British Virgin Islands   Investment holding   50,000 ordinary shares at par value of US$1     100%  
                     
OneSolution Management Limited   British Virgin Islands   Investment holding   50,000 ordinary shares at par value of US$1     100%  
                     
OneSolution Innotech Limited   Hong Kong   Product development and trading   10,000 ordinary shares for HK$10,000     100%  

 

The Company and its subsidiaries are hereinafter referred to as the “Company”.