MIRA INFORM REPORT
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Report Date : |
15.10.2011 |
IDENTIFICATION DETAILS
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Name : |
WINGTECH
TELECOM LTD. |
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Registered Office : |
c/o M-Bo Secretarial Services Ltd., Rooms 1002-1004, 10/F., Tung Chiu Commercial Centre, 193 Lockhart Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.04.2006 |
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Com. Reg. No.: |
36799071 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and
Manufacturer of all kinds of mobile phone and accessories, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
WINGTECH TELECOM
LTD.
Company ADDRESS
c/o M-Bo Secretarial Services Ltd.
Rooms 1002-1004,
10/F., Tung Chiu Commercial Centre, 193 Lockhart Road, Wanchai, Hong Kong.
PHONE: 2542 0687
FAX: 2529 0935
MANAGEMENT
Managing
Director: Mr. Li Yunchuan
SUMMARY
Incorporated on: 10th April, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Importer, Exporter and Manufacturer.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
c/o M-Bo Secretarial Services Ltd.
Rooms 1002-1004, 10/F., Tung Chiu Commercial Centre, 193 Lockhart Road, Wanchai, Hong Kong.
China Main Office:-
Wingtech Group Incorporation Ltd.
1/F. - 3/F., Yinfeng Building, 5097 Luosha Road, Luohu District, Shenzhen, China.
[Tel: 86-755-2519 0775, 8825 1228
Fax 86-755-2510 9576, 8825 0180, 8825 0632
E-mail: marketing@wingtech.com ]
Holding Company:-
Wingtech Group (Hongkong) Ltd., Hong Kong.
Associated
Companies:-
Wingtech Group of Companies
· Wingtech Group Ltd., Hong Kong.
· Wingtech Investment Co. Ltd., British Virgin Islands.
· Wingtech Mobile Ltd., Hong Kong.
· Wingtech Telecom Ltd., China.
· Wingtech Group Incorporation Ltd., Hong Kong.
etc.
BUSINESS REGISTRATION NUMBER
36799071
COMPANY FILE NUMBER
1037177
MANAGEMENT
Managing Director: Mr. Li Yunchuan
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
SHAREHOLDERS
(As per registry
dated 10-04-2011)
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Name |
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No.
of shares |
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LI
Yunchuan |
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30 |
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Wingtech Group (Hong Kong) Ltd., Hong
Kong. |
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70 |
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|
––– |
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Total: |
100 === |
DIRECTORS
(As per registry
dated 10-04-2011)
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Name (Nationality) |
Address |
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YAN Yunxing |
5-2, No. 22 Huancheng Road, Dazhe Town,
Pingyuan Country, Guangdong, Province, China. |
|
ZHANG Xuezheng |
No. 25, Gao An Road, Xuhui District,
Shanghai, China. |
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LI Yunchuan |
Building 107, Tairan Garden, Futian
District, Shenzhen, China. |
SECRETARY
(As per registry
dated 10-04-2011)
|
Name |
Address |
Co.
No. |
|
M-Bo
Secretarial Services Ltd. |
Rooms 1002-1004, 10/F., Tung Chiu Commercial Centre, 193 Lockhart
Road, Wanchai, Hong Kong. |
0170754 |
HISTORY
The
subject was incorporated on 10th April, 2006 as a private limited liability company
under the Hong Kong Companies Ordinance.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer, Exporter and Manufacturer.
Lines: All kinds of mobile phone and accessories, etc.
Employees: Nil.
Commodities Imported: Imports raw materials from European countries, some of the Asian countries and finished
products from China.
Markets: China, Japan, other Asian countries, Europe, North America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business is not active in Hong Kong.
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 100 ordinary shares of HK$1.00 each, Wingtech Telecom Ltd. is jointly
owned by Wingtech Group (Hong Kong) Ltd., a Hong Kong-registered firm holding
70% interests; Mr. Li Yunchuan, holding 30%.
The
directors of the subject are Li Yunchuan, Yan Yunxing and
Zhang Xuezheng. All the directors
are China ID holders and do not have the right to reside in Hong Kong
permanently. Currently, all of them are
residing in China.
The
subject does not have its own operating office.
Its registered office is in a secretarial firm located at Rooms
1002-1004, 10/F., Tung Chiu Commercial Centre, 193 Lockhart Road, Wanchai, Hong
Kong known as M-Bo Secretarial Services Ltd. which is handling its
correspondences and documents. This firm
is also the corporate secretary of the subject.
The
subject has no employees in Hong Kong.
To
our knowledge, the subject is one of the members of the Wingtech Group which
has got its head office in China. Mr. Zhang
Xueying is also the Chairman of the Group.
The
Head Office of the Group is in Shenzhen Special Economic Zone, China. Your given phone and fax number belong to the
Head Office of the Wingtech Group.
The business of the Head Office is chiefly administered by
Li Yunchuan who is residing in Shenzhen Special Economic Zone, China.
Wingtech
Group is engaged in manufacturing handsets.
Currently, the Group has set up several plants in China. China-based handset-design house Wingtech
Group has emerged as the top handset solution vendor in China, and the company
now aims to become an ODM handset maker.
Founded
in 2006, Wingtech Group has had its Shanghai and Xi’an R&D Centre, Shenzhen
SEZ Operation Centre, and Jiaxing Production Centre. Currently, Wingtech Group has a team of
nearly 3,000 employees.
Its products cover GSM, CDMA, EDGE, TD-SCDMA, EVDO and all handheld
device series ranging from 2G to 4G, with an annual total turnover of hundreds
of millions of US dollars.
Wingtech
Group owns nearly one thousand patents, a number of the world leading
technologies, and is increasing about 500 patents every year. Meanwhile, Wingtech Group has set up sales
networks in China and has got the following certifications: ISO 9001:2000, ISO
14001 and QC 080000.
Wingtech
Group saw its shipments of handset solutions increase by more than four fold
from 4 million units in 2006 to 18 million units in 2007, outpacing those from
previous leaders, including TechFaith Wireless, Longcheer Group and SIM
Technology.
Currently,
Wingtech’s products have been exported to over 30 countries, and over 70
million consumers around the world are using Wingtech’s products and services.
The
Group’s products have been exported to Southeast Asia, Latin America, Africa
and the Middle East, etc. In addition to
cooperating with China-based handset chipset vendor Spectrum Communications,
Wingtech Group has also established business relations with other chipset
vendors, including NXP Semiconductors and Marvell Technology.
Wingtech
Group has transformed itself into an ODM handset maker by investing US$70
million to build a handset production base in Jiaxing, Zhejiang Province in
China. This production base is able to
turn out 30 million handsets a year initially. Apart from the new production base in Jiaxing,
Zhejiang Province, China, the Group has already had three production bases in
Shenzhen Special Economic Zone, Huizhou City and Dongguan City
respectively. The second and third city
are in Guangdong Province, China.
In
March 2009, Wingtech Group and China Telecommunication Technology Labs entered
into a cooperative agreement to establish strategic cooperative relationship,
to standardize the industrial competition of China cell phone, and to enhance
the quality of wireless communication products of China.
In
order to expend the market and develop overseas market, the Group has set up
Wingtech Telecom Ltd. which acts as the overseas sales centre.
Besides,
the Group also has set up offices in Delhi, Chennai and Kalkata of India.
The
sales turnover of the Group for the FY 2010 was about US$145 million.
The
subject is fully supported by the Group, however, its business in
Hong Kong is not active.
Since
the subject does not have its own operating office and has no employees in Hong
Kong, consider it good for business engagements on secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
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UK Pound |
1 |
Rs.77.42 |
|
Euro |
1 |
Rs.67.72 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.