MIRA INFORM REPORT

Report Date :

13.12.2011

IDENTIFICATION DETAILS

Name :	SYNTECH (HK) TECHNOLOGY LTD.
Registered Office :	Unit 1, 12/F., Perfect Industrial Building, 31 Tai Yau Street, San Po Kong, Kowloon
Country :	Hong Kong
Date of Incorporation :	15.12.2010
Com. Reg. No.:	53481899
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of all kinds of mobile phones, etc.
No. of Employees :	8

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Hong Kong	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name and address

SYNTECH (HK) TECHNOLOGY LTD.

ADDRESS: Unit 1, 12/F., Perfect Industrial Building, 31 Tai Yau Street, San Po Kong, Kowloon, Hong Kong.

PHONE: 2793 4308, 2763 9217

FAX: 2793 4678

MANAGEMENT

Managing Director: Mr. Liu Lirong

SUMMARY

Incorporated on: 15th December, 2010.

Organization: Private Limited Company.

Capital: Nominal: HK$1,000,000.00

Issued: HK$1,000,000.00

Business Category: Mobile Phone Trader.

Employees: 8.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

Unit 1, 12/F., Perfect Industrial Building, 31 Tai Yau Street, San Po Kong, Kowloon, Hong Kong.

Associated Companies:-

Dongguan Jinming Electronics Co. Ltd., China.

Dongguan Jinzhong Electronics Co. Ltd., China.

Gionee (Beijing) Communication Equipment Co. Ltd., China.

* Gionee (HK) Communication Equipment Ltd., Hong Kong.

* Gionee (HK) Communication Technology Ltd., Hong Kong.

Hunan Jinweikang Biology Technique Co. Ltd., China.

Shenhen Gionee TFT-LCD TV Co. Ltd., China.

Shenzhen Gionee Communication Equipment Co. Ltd., China.

(* Same address)

BUSINESS REGISTRATION NUMBER

53481899

COMPANY FILE NUMBER

1540759

MANAGEMENT

Managing Director: Mr. Liu Lirong

CAPITAL

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

SHAREHOLDER

(As per registry dated 15-12-2010)

Name	No. of shares
LIU Lirong	1,000,000 =======

DIRECTOR

(As per registry dated 15-12-2010)

Name (Nationality)	Address
LIU Lirong	Room 106, 1/F., Max Trade Centre, 23 Luk Hop Street, San Po Kong, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 15-12-2010)

Name	Address
NG Ching Yee	Room 905, 9/F., Wah Ying Cheong Central Building, 158 Queen’s Road Central, Hong Kong.

HISTORY

The subject was incorporated on 15th December, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Room 106, 1/F., Max Trade Centre, 23 Luk Hop Street, San Po Kong, Kowloon, Hong Kong, moved to the present address with effect from 3rd October, 2011.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of mobile phones, etc.

Employees: 8.

Commodities Imported: Italy, etc.

Markets: Hong Kong, China, other Asian countries, Europe, Middle East, etc.

Terms/Sales: L/C or as per contracted.

Terms/Buying: L/C, D/P, etc.

FINANCIAL INFORMATION

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

Profit or Loss: Too early to offer an opinion.

Condition: Business is under development.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Small.

GENERAL

Having issued 1 million ordinary shares of HK$1.00 each, Syntech (HK) Technology Ltd. is wholly owned by Mr. Liu Lirong who is a China merchant. He is a China ID holder and does not have the right to reside in Hong Kong permanently. Liu is also the only director of the subject.

The subject is a member of the Gionee Group. The President of the Gionee Group is also Mr. Liu Lirong.

The subject has had two main associated companies Gionee (HK) Communication Equipment Ltd. and Gionee (HK) Communication Technology Ltd. located at its operating address. Both firms are referred to Gionee which are mobile phone traders. Gionee is trading in mobile phones imported from Italy. It also trades in its own products bearing the trade mark “Gionee”.

The factory of Gionee in Shenzhen SEZ is known as Shenzhen Gionee Communication Equipment Co. Ltd. [Shenzhen Gionee].

The subject is also a mobile phone trader. Shenzhen Gionee is engaged in mobile phone trading and manufacturing.

Founded on 6th September, 2002 and with a registered capital of RMB200 million Yuan, Shenzhen Gionee is specialized in R & D, manufacturing and domestic and overseas sales of mobile phones. In May 2005, Shenzhen Gionee obtained licenses for the production of GSM and CDMA mobile phones. Its production capacity is about 7 million mobile phones per year.

The headquarters of Shenzhen Gionee now has more than 360 employees with an average age of less than 30, 90% of whom possess bachelor degree, among which 20% of them have got master degree and 3% have got doctor degree.

Gionee has invested nearly RMB300 million Yuan in setting up two factories — Dongguan Jinming Electronics Co. Ltd. and Dongguan Jinzhong Electronics Co. Ltd. which possess factory area about 60,000 sq.m. in total. With an annual production capacity of 15 million sets, the two factories are two of the largest highly automated and modernized manufacturing bases of mobile phones in the Pearl River Delta.

Now, Gionee has had 41 provincial customer centres in China. The customer centres are able to offer customers with after-sale services.

Besides, Gionee also exports its mobile phones to Western and Eastern Europe, Africa, the Middle East, Southeast Asia, etc. besides marketing in China.

In recent years, Gionee has been engaged in diversified economy such as LCD and TFT business, as well as engaged in biotechnology. These businesses are undertaken by separate entities.

The subject is fully supported by the Gionee Group.

The history of the subject in Hong Kong is just about a year.

On the whole, since the history of the subject is short in Hong Kong, consider it good for normal business engagements on L/C basis for the time being.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.42
UK Pound	1	Rs.81.92
Euro	1	Rs.69.94

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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