Owned by China North Industries (NORINCO); reportedly handled a shipment of high-grade seamless steel pipes suitable for use in chemical or explosives manufacturing from Spain through Hong Kong to the Iranian port of Bandar Abbas, and then on to an Iranian chemical weapon plant; consignee for the shipment was Iran's Defense Industries Organization (DIO).

Accused by the British colonial government in Hong Kong of supplying Iran and potential terrorists with materials that could be used to make chemical weapons.

Reportedly functioned as a broker for NORINCO's business in commercial high explosives, and as a link to the international financial system through Hong Kong; ordered closed down by the British colonial government in Hong Kong in June 1997; volunteered to cease business under a settlement with the Chinese government in Hong Kong in July 1997; founded 1982.