Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.20.4
SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Sep. 30, 2020
SIGNIFICANT ACCOUNTING POLICIES  
Schedule of ownership interests

 

 

 

 

 

 

 

 

    

Registered

    

 

    

Ownership as of the

Entity Name

 

Location

 

Background

 

issuance date of the report

ZK

 

BVI

 

• Incorporated on May 13, 2015

 

29.38% by HUANG Jian Cong

International

 

 

 

• Registered capital of USD 50,000, not paid

 

10.87% by WANG Ming Jie

 

 

 

 

•  A holding company with no operation activities itself for the years then ended

 

10.87% by WANG Guo Lin

 

 

 

 

 

 

1.09% by WANG Jian Di

 

 

 

 

 

 

 

ZK Pipe

 

Hong Kong

 

• Incorporated on May 28, 2015

 

 

 

 

 

 

• Registered capital of HKD 1,000,000, not paid

 

100% by ZK International

 

 

 

 

•  Have not commenced operations

 

 

 

 

 

 

 

 

 

Wenzhou Weijia

 

Wenzhou

 

• Incorporated on June 17, 2015

 

 

 

 

 

 

• Registered capital of USD 20,000,000, not paid

 

100% by ZK Pipe

 

 

 

 

•  Have not commenced operations

 

 

 

 

 

 

 

 

 

Zhejiang Zhengkang

 

Wenzhou

 

• Incorporated on December 4, 2001

 

99% by Wenzhou Weijia

 

 

 

 

• Registered capital of RMB 100,000,000, RMB 30,000,000 paid

 

1% by HUANG Jian Cong

 

 

 

 

•  Principally operated in manufacturing and sales of steel strip, steel pipe and fittings

 

 

 

 

 

 

 

 

 

Wenzhou Zhengfeng

 

Wenzhou

 

• Incorporated on December 24, 1999

 

 

 

 

 

 

• Registered capital of RMB 2,880,000, fully paid

 

100% by Zhejiang Zhengkang

 

 

 

 

•  Principally operated in trading of steel strip, mainly purchased from Zhejiang Zhengkang

 

 

 

 

 

 

 

 

 

ZK Uganda

 

Uganda

 

• Incorporated on March 23, 2018

 

 

 

 

 

 

• Registered capital of 20 Million Uganda Shillings, not paid.

 

80% by ZK International

 

 

 

 

•  Have not commenced operations

 

 

 

 

 

 

 

 

 

XSigma

 

BVI

 

• Incorporated on January 18, 2018

 

 

 

 

 

 

• Registered capital of USD 50,000, not paid

 

100% by ZK International

 

 

 

 

•  Have not commenced operations

 

 

 

Schedule of relevant exchange rates

 

 

 

 

 

 

 

 

 

For the Fiscal Years

 

 

Ended September 30

 

    

2020

    

2019

    

2018

 

 

 

 

 

 

 

Period Ended RMB: USD exchange rate

 

6.7896

 

7.1477

 

6.8680

Period Average RMB: USD exchange rate

 

7.0056

 

6.8753

 

6.5368

 

Schedule of property, plant and equipment, useful lives

 

 

 

 

    

Useful lives

Buildings

 

40 years

Machinery

 

10 years

Furniture, fixtures, and equipment

 

10 years

Motor vehicles

 

10 years

 

Schedule of intangible assets, useful lives

 

 

 

 

    

Useful lives

Land use rights

 

46 years

Software

 

5 years