MIRA
INFORM REPORT
|
Report Date : |
29.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
HUAWEI
TECHNOLOGIES CO., LTD. |
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Registered Office : |
Administration Building Of Huawei Headquarters, Bantian, Longgang District,
Shenzhen, Guangdong Province, 518129 Pr |
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Country : |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
15.09.1987 |
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Com. Reg. No.: |
440301103097413 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Researching, developing, manufacturing and selling telecommunication equipment. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 300,000,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
China |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
company Name and address
HUAWEI
TECHNOLOGIES CO., LTD.
ADMINISTRATION BUILDING OF HUAWEI HEADQUARTERS,
BANTIAN, LONGGANG DISTRICT, SHENZHEN, GUANGDONG PROVINCE, 518129 PR CHINA
TEL: 86 (0) 755-28780808 FAX: 86 (0) 755-28781559
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEP. 15, 1987
REGISTRATION NO. :
440301103097413
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LI
STAFF STRENGTH : 27,000
REGISTERED CAPITAL : CNY
39,308,131,820
BUSINESS LINE :
R&D, MANUFACTURE
TURNOVER :
CNY 82,035,434,000 (AS OF DEC.
31, 2008)
EQUITIES :
CNY 45,267,680,000 (AS OF DEC. 31, 2008)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STRONG
OPERATIONAL TREND : UPWARD
GENERAL REPUTATION : WELL
KNOWN
EXCHANGE RATE : CNY 6.61 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated SC - subject company (the company inquired by you)
NA - not available
CNY -
SC was registered as a limited liabilities company at
local Administration for Industry & Commerce (The official body of issuing
and renewing business license) on Sep. 15, 1987 and has been under present
ownership since May, 2008.
Company Status: One-person
Limited Liability Company
Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes developing, manufacturing and selling
programmed-controlled exchangers, communication equipment, data communicating
equipment, broad network multimedia equipment, electrical power & wireless
communication equipment, micro-electronics products, system integration,
computer and relevant appliance, and terminal equipment; providing related
maintaining service; technology consulting; importing and exporting business;
domestic commercial trade, and material supply (excluding the products
state-controlled); foreign economic and technological cooperation business;
housing rental (with permit if needed).
SC is mainly engaged in researching, developing, manufacturing and
selling telecommunication equipment.
Ms. Sun
Yafang has been legal representative and
chairman of SC since 1996.
SC is known
to have approx. 27,000 employees at present.
SC is currently operating at the above stated address. This
address houses its operating office and factory in the industrial zone of
Shenzhen. Our checks reveal that SC owns the premise about 1,422,000 square
meters.
http://www.huawei.com
The design is professional and the content is well organized. At present, the
web is both in Chinese and English versions.
E-mail: support@huawei.com.
Business Highlights in 2009:
1. Built leading
position in wireless
SC ranked second in global market share of radio access equipment.
2. Successfully
delivered the world’s first LTE/EPC commercial network
Commercial operation began on the world’s first LTE network, built by
SC, for TeliaSonera in
3. Launched the
world’s first end-to-end
SC became the first supplier to provide an end-toend
4. Gained widespread
acclaim in the global telecom industry
SC was honored to be the recipient of significant recognition in 2009,
including: Vodafone’s "Supplier of the Year"; IEEE’s Outstanding
Contribution Award; "Asia-Pacific Wireless Infrastructure Vendor of the
Year"; "Broadband Equipment Vendor of the Year" and "Vendor
of the Year" awarded by Frost & Sullivan; being ranked the fifth most
innovative company in the world by Fast Company; and receiving the Financial
Times' Arcelor Mittal Boldness in Business award for performance in and
contribution to emerging markets.
Changes
of SC’s registered information:
|
Date |
Item |
Before changed |
After changed |
|
Feb. of 2003 |
Registered capital |
CNY 3,200,000,000 |
CNY 3,268,396,585 |
|
Shareholders |
Huawei Technologies Co., Ltd. Labor Union Committee 98.9063%; Ren
Zhengfei 1.0937% |
Huawei Technologies Co., Ltd. Labor Union Committee 98.9292%; Ren
Zhengfei 1.0708% |
|
|
Mar. of 2003 |
Registered capital |
CNY 3,268,396,585 |
CNY 3,268,723,585 |
|
Shareholders |
Huawei Technologies Co., Ltd. Union Committee 98.9292%; Ren Zhengfei
1.0708% |
Shenzhen Huawei Holding Co., Ltd. 99.9899%; Ji Ping 0.0101% |
|
|
Dec. of 2004 |
Registered capital |
CNY 3,268,723,585 |
CNY 4,311,511,820 |
|
Shareholders |
Shenzhen Huawei Holding Co., Ltd. 99.9899%; Ji Ping 纪平 0.0101% |
Shenzhen Huawei Holding Co., Ltd. 99%; Ren Zhengfei 1% |
|
|
Dec. of 2007 |
Registered capital |
CNY 4,311,511,820 |
CNY 5,311,511,820 |
|
Registered number |
4403011022600 |
440301103097413 |
|
|
May of 2008 |
Legal form |
Limited liabilities company |
One Person Limited Liability Company |
|
Shareholders |
Shenzhen Huawei Holding Co., Ltd. 99%; Ren Zhengfei 1% |
Shenzhen Huawei Holding Co., Ltd. 100% |
|
|
Jun. of 2008 |
Registered capital |
CNY 5,311,511,820 |
CNY 7,311,511,820 |
|
Dec. of 2008 |
Registered capital |
CNY 7,311,511,820 |
CNY 14,111,511,820 |
|
Oct. of 2009 |
Registered capital |
CNY 14,111,511,820 |
CNY 21,611,511,820 |
|
Dec. of 2009 |
Registered capital |
CNY 21,611,511,820 |
CNY 27,971,511,820 |
|
Dec. of 2010 |
Registered capital |
CNY 27,971,511,820 |
Present amount |
*To what extent is
your company affected by the current Credit Crisis?
SC’s management declined to make any comments.
MAIN SHAREHOLDERS:
Name % of shareholding
Shenzhen Huawei Holding Co., Ltd. 100
Legal representative: Sun Yafang
Registration No.: 440301103097405
Add: Huawei Base, Bantian, Longgang
District,
Tel: 86 (0) 755-28780808
Fax: 86 (0)755-28780808
l
legal representative and chairman:
Ms. Sun
Yafang , in her
Working Experience(s):
From 1996 to present Working
in SC as legal
representative and chairman.
Also working in Shenzhen Huawei Holding Co.,
Ltd. as legal representative.
l
Vice-chairman and general manager:
Mr. Ren Zhengfei
, in his
Working Experience(s):
At present Working
in SC as vice-chairman and general manager
l
Supervisors:
Meng Wanzhou
Hui Chun
Lv Ke
Li Jinge
Zhao Guang
l
Directors:
Hu Houkun
Guo Ping
Xu Wenwei
Xu Zhijun
SC is mainly engaged in researching, developing, manufacturing and
selling telecommunication equipment.
In the past years, SC has successfully finished a lot of great telecom
engineering projects, and the following are three of them:
Shenzhen Telecom Voice Network
SC is
also known to have provided technology support to most famous telecom
companies, such as China Telecom and China Netcom. SC is also known to carry
out its business in some foreign countries and areas, such as
SC
sources its products and materials 80% from domestic market, and 20% from the
overseas market. SC sells 60% of its products in domestic market, and 40% to
the overseas market.
The buying terms of SC include: Check, T/T, L/C and credit of 30-90
days. The payment terms include: Check, T/T, L/C and credit of 30-90 days.
*Major Clients:
============
TI
Motorola
Intel
AT&T
ALTERA
SUN
SC is known to have 6 branches in
Tel010-63761808
Fax010-63761809
Tel025-84730808
Fax025-84706505/84713108
Tel029-87660808
Fax029-87660718
Shanghai Branch
Tel021-50941818/021-50991818
Fax021-50992502
Tel0571-85816666
Fax0571-87950808
SC is
also known to have representative offices in the major cities around
Tel0551-2287288/2287299
Fax0551-2287227
Tel0591-83050808
Fax0591-83050841
Tel0931-8441616
Fax0931-8441200
Tel020-83652008/83860680
Fax020-83871168
Tel0771-2108888
Fax0771-2108800
Tel0851-5370808
Fax0851-5370999
Tel0898-68530809
Fax0898-68548818
Tel0311-85990088
Tel0371-65612000
Fax0371-65618561
Tel0451-82394808
Fax0451-82393808
Tel027-85486808
Fax027-85486533
Tel0731-4191808
Fax0731-4191862
Tel0431-88480808
Fax0431-88964972
Tel0791-8890616
Fax0791-8863563
Tel024-23960808
Fax024-23963068
Huhehaote Office
Tel0471- 4165000
Fax0471- 4165002
Tel0951-5170978
Fax0951-5671818
Tel0971-6138087
Fax0971-6164808
Tel0531-86010808/86163685
Fax0531-6011822
Tel0351-4618201
Fax0351-4618234
Tel028-85335200
Fax028-85335210
Tel022-83866408
Fax022-83866486
Lasa Office
Tel0891-6840808
Fax0891-6840623
Wulumuqi Office
Tel0991-5881288
Fax0755-28560818
Tel0871-3566808
Fax0871-3547050
Tel023-67390808
Fax023-67889555/67889520
SC is known to
invest in the following companies:
Shenzhen Huawei Technology Service Co., Ltd.
Juxin Technology Co., Ltd.
Shandong Huawei Communication Technology Co., Ltd.
Shanghai Yumeng Communication Technology Co., Ltd.
China Netcom Group Broadband service Applications Ltd. Corp. for
National Engineering laboratory
Huawei Digital Technology Co., Ltd.
Shanghai Huawei Technology Co., Ltd.
Zhejiang Huawei Communication Technology Co., Ltd.
Huawei Technology Service Co., Ltd.
Shenzhen Huawei Technology Software Co., Ltd.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent payment
and our debt collection record concerning SC.
Trade payment experience: SC did not provide
any name of trade/service suppliers and we have no other sources to conduct the
enquiry at present.
Delinquent
payment record: None in our database.
Debt collection record: No overdue amount owed by SC was placed to us for
collection within the last 6 years.
Bank of
AC#: N/A.
Relation:
Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2007 |
As
of Dec. 31, 2008 |
|
Cash & bank |
8,411,600 |
11,838,728 |
|
Short investment
|
1,240,500 |
6,770,000 |
|
Bills receivable
|
203,606 |
150,671 |
|
Inventory |
8,637,649 |
12,046,153 |
|
Accounts receivable |
21,992,244 |
32,301,896 |
|
Advances to
suppliers |
3,336,199 |
4,148,098 |
|
Other
receivables |
1,292,561 |
5,724,013 |
|
Long term
investment due within one year |
1,753,104 |
2,392,355 |
|
Other current
assets |
555,573 |
935,346 |
|
|
--------------- |
--------------- |
|
Current assets |
47,423,036 |
76,307,260 |
|
Fixed assets net
value |
4,821,173 |
4,691,463 |
|
Projects under
construction |
133,172 |
182,823 |
|
Long term
investment |
13,657,147 |
20,665,849 |
|
Other assets |
128,310 |
314,466 |
|
|
--------------- |
--------------- |
|
Total assets |
66,162,838 |
102,161,861 |
|
|
============ |
============ |
|
Short loans |
1,910,000 |
3,145,000 |
|
Bills payable |
9,171,328 |
7,276,501 |
|
Accounts payable |
17,257,475 |
34,500,569 |
|
Advances from
clients |
399,719 |
154,455 |
|
Taxes payable |
98,170 |
710,473 |
|
Salaries payable |
66 |
24 |
|
Accrued expenses |
5,282,008 |
6,118,567 |
|
Other payable |
1,490,867 |
1,583,889 |
|
Estimated
liabilities |
196,623 |
447,274 |
|
Long term liabilities
due within one year |
318,000 |
888,589 |
|
Other current
liabilities |
317,671 |
50,041 |
|
|
------------------- |
------------------- |
|
Current
liabilities |
36,441,927 |
54,875,382 |
|
Long term
liabilities |
2,366,908 |
2,018,799 |
|
|
------------------- |
------------------- |
|
Total
liabilities |
38,808,835 |
56,894,181 |
|
Equities |
27,354,003 |
45,267,680 |
|
|
------------------- |
------------------- |
|
Total
liabilities & equities |
66,162,838 |
102,161,861 |
|
|
=========== |
=========== |
Income Statement
Unit: CNY’000
|
|
As of Dec. 31,
2007 |
As of Dec. 31,
2008 |
|
Turnover |
61,417,949 |
82,035,434 |
|
Cost of goods
sold |
46,253,439 |
58,476,264 |
|
Sales expense |
7,459,768 |
7,857,675 |
|
Management expense |
7,533,614 |
9,462,242 |
|
Finance expense |
2,020,506 |
2,325,661 |
|
Investment
income |
6,679,165 |
8,158,301 |
|
Profit before
tax |
4,522,078 |
11,790,252 |
|
Less: profit tax |
65,476 |
731,558 |
|
Profits |
4,456,602 |
11,058,694 |
Note: SC has not lodged the latest annual returns
in the local registry, hence no up-to-date detailed financial information could
be provided.
Important Ratios
=============
|
|
As of Dec. 31,
2007 |
As of Dec. 31,
2008 |
|
*Current ratio |
1.30 |
1.39 |
|
*Quick ratio |
1.06 |
1.17 |
|
*Liabilities
to assets |
0.59 |
0.56 |
|
*Net profit
margin (%) |
7.26 |
13.48 |
|
*Return on
total assets (%) |
6.74 |
10.82 |
|
*Inventory
/Turnover ×365 |
51 days |
54 days |
|
*Accounts
receivable/Turnover ×365 |
131 days |
144 days |
|
*Turnover/Total
assets |
0.93 |
0.80 |
|
* Cost of
goods sold/Turnover |
0.75 |
0.71 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears good in its line, and it
increased greatly in 2008.
l
SC’s net profit margin is fairly good, and it
increased in 2008.
l
SC’s return on total assets is fairly good, and it
increased in 2008.
l
SC’s cost of goods sold is low, comparing with its
turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
l
The accounts receivable of SC is fairly large.
l
The inventory of SC is average.
l
The short loans of SC are average.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Strong.
SC is well-known in its industry with strong financial conditions. Over
the past 23 years, SC has made a stable growth with satisfactory profit. In
view of its favorable background and market conditions, a credit line up to USD
300,000,000 appears to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.13 |
|
|
1 |
Rs.72.05 |
|
Euro |
1 |
Rs.63.33 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.