Wholly-owned subsidiary Intercard was founded, manufacturing PVC/ABS cards in Hong Kong.
Intercard launched advanced contactless smartcard systems, and full service smartcard assembly manufacturing.
Reorganized Intercard under a Cayman company Cardlink Technology in September, and successfully listed on the HK GEM in mid December.
Cardlink’s Intercard segment established a factory in Beijing and set up a representative office in Shenzhen.
Intercard closed its factory in Hong Kong and shifted all production to Beijing, while Cardlink maintains its headquarters in Hong Kong.
New major shareholder Best Heaven takes over 26% of the company equity and undertakes a full review of Intercard strategy.
Lily Wu becomes Chairman of Cardlink’s Board and Director Craig Chang Wei Wen joins the Board and management of Intercard.
Intercard opens a factory in Shenzhen’s Duty Free Zone to handle international smartcard assembly manufacturing orders
Cardlink makes a US$4 mil investment in Hota, a greenfield company approved by the PRC government to import scrap vehicles for processing and recycling in China. Ownership of Hota equity establishes Cardlink’s second business segment, focused on recycling resources investments.
In May, the company name is changed to Phoenitron Holdings to better reflect the changing nature of the company, which initially only had one business segment of smartcard assembly manufacturing, and which now has three business segments which additionally includes recycling resources, and financial consulting.
June, recycling resources’s Hota breaks ground for its new plant construction in Zhangjiagang. Phoenitron increases its equity stake in Hota to 62.3%.
Phoenitron’s Intercard segment increases its value-added services to include smartcard personalization process.
Anticipated start of commercial operations at Hota’s PRC plant before year-end, and the start of international operations based on Taiwan and Hong Kong.
Intercard preparing to move to a new larger plant facility in Beijing to expand capacity and increase smartcard manufacturing services scope.
