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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported) MAY 23, 1996
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CHINA INDUSTRIAL GROUP, INC.
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(Exact name of registrant as specified in its charter)
COLORADO
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(State or other jurisdiction of incorporation)
0-16365 84-0974043
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(Commission File Number) (IRS Employer Identification No.)
SUITE 2101-2 CENTRAL PLAZA, 18 HARBOUR ROAD, WAN CHAI, HONG KONG
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (8522) 877-3857
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ITEM 5. OTHER EVENTS
Following the acquisition of Cashmere International Holdings Limited,
China Industrial Group, Inc. (The "Registrant"), began the reorganization of
its business operations to focus primarily on the manufacturing of cashmere
products with a view to penetrate the worldwide markets. The change in the
Registrant's strategic business focus is a result of disposals of non-core
assets and the possibility of further acquisitions both in China and
overseas. The Registrant expects to capitalize on its experience in reviving
traditional inefficient government-owned manufacturing facilities in China
and anticipates a steady growth in revenues and earnings after the initial
period of establishing itself as a cashmere manufacturer in China and its
exporter to markets overseas.
On May 23, 1996, the Registrant disposed of its interests in Eastern
Assets Management Limited ("EAML"), a British Virgin Islands corporation.
EAML is a subsidiary of the Registrant which held joint venture interests in
China. The enterprise manufactures wool products that are used primarily by
other factories in China.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: June 6, 1996 CHINA INDUSTRIAL GROUP, INC.
By: /s/ Benthony Ip
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Benthony Ip
Chief Financial Officer
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