MIRA INFORM
REPORT
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Report Date : |
19.10.2011 |
IDENTIFICATION DETAILS
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Name : |
HUAQIN
TELECOM HONG KONG
LTD. |
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Registered Office : |
Unit 7, 13/F., Telford House, 16 Wang Hoi Road, Kowloon Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.06.2006 |
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Com. Reg. No.: |
36830110 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and
Exporter of all kinds of telecommunication equipment, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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
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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 |
Bottom of Form
Company name
HUAQIN TELECOM
HONG KONG LTD.
Company ADDRESS
Unit 7, 13/F., Telford House, 16 Wang Hoi Road, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 2713 3232
FAX: 2713 3799
MANAGEMENT
Managing Director: Mr. Qiu Wensheng
SUMMARY
Incorporated on: 8th June, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Telecommunication Equipment Trader.
Employees: 5.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
Unit 7, 13/F., Telford House, 16 Wang Hoi Road, Kowloon Bay, Kowloon, Hong Kong.
Holding Company:-
Haiqin Telecom Hongkong Ltd., Hong Kong. (Same address)
Affiliated Company:-
Shanghai Huaqin Telecom Technology Co. Ltd., China.
BUSINESS REGISTRATION NUMBER
36830110
COMPANY FILE NUMBER
1050831
MANAGEMENT
Managing Director: Mr. Qiu Wensheng
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDER
(As per registry dated 08-06-2010)
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Name |
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No. of shares |
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Haiqin Telecom Hongkong Ltd., Hong Kong. |
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10,000 ===== |
DIRECTORS
(As per registry dated 08-06-2010)
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Name (Nationality) |
Address |
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QIU Wen Sheng |
10/F., Building B, Golden Eagle Mansion, 1518, Min Sheng Road, Pudong New Area, Shanghai, China. |
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CHEN Xiao Rong |
10/F., Building B, Golden Eagle Mansion, 1518, Min Sheng Road, Pudong New Area, Shanghai, China. |
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CUI Guo Peng |
Room 606, Building 1, 188, Du Juan Road, Pudong, Shanghai, China. |
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WU Zhen Hai |
10/F., Building B, Golden Eagle Mansion, 1518, Min Sheng Road, Pudong New Area, Shanghai, China. |
SECRETARY
(As per registry dated 08-06-2010)
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Name |
Address |
Co. No. |
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Success Corporate Services Ltd. [Resigned on 07-06-2011] |
Room 2208, 22/F., Wu Chung House, 213 Queen’s Road East, Wanchai, Hong Kong. |
0618863 |
HISTORY
The subject was incorporated on 8th June, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 2608, 26/F., 113 Argyle Street, Mongkok, Kowloon, Hong Kong, moved to the present address with effect from 31st August, 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of telecommunication equipment, etc.
Employees: 5.
Commodities Imported: Europe, China, other Asian countries, etc.
Markets: China, Southeast Asia, Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Mortgage or Charge:-
Date of Security Over Deposits
with the Bank Limited Company – Under Seal:
21-04-2008
Amount: To secure all monies in respect of banking facilities
Property: Initially US$2,000,000.00 and all monies hereafter standing to the credit of the company’s
deposit account No. 808-200083
Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Making a small profit in past three years.
Condition: Keeping in an active state.
Facilities: Making rather 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: Normal.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, Huaqin Telecom Hong Kong Ltd. is a wholly owned subsidiary of Haiqin Telecom Hongkong Ltd. [HTHL] which is located at the subject’s operating address. HTHL is a Hong Kong-registered firm.
The directors of the subject are Mr. Qiu Wensheng, Ms. Chen Xiao Rong, Mr. Cui Guo Peng and Mr. Wu Zhen Hai. All are residing in Shanghai, China.
The subject has got a main associated company in Shanghai known as Shanghai Huaqin Telecom Technology Co. Ltd. [Shanghai Huaqin], a Shanghai-based firm in China. Qiu Wensheng is also the President of Shanghai Huaqin.
The subject is trading in all kinds of mobile phones, accessories, etc. It has registered with the Office of the Telecommunications Authority [OFTA], The Government of Hong Kong SAR, the People’s Republic of China. The subject bears the licence No. of 13236.
Shanghai Huaqin, a high-technology company, has devoted itself to research and develop telecom ultimate products. Founded in June 2005, it is a rather significant telecommunication firm in China.
Shanghai Huaqin is specialized in researching and developing mobile terminals of GSM/GPRS/CDMA/WCDMA. Meanwhile, it is engaged in studying strategies of 3G market to make sure of grasping the business opportunity in the following years.
Shanghai Huaqin has become a professional designing company from the initial less than 10 to more than 500 employees, which is capable of developing over 50 kinds of mobile phones every year.
It has acquired support in capital for research and development from the state and province for many times. Shanghai Huaqin has got the certification of ISO9001 international quality management system in “hi-tech achievement transformation projects, such as D838, K110”, etc., “application for over 100 invention patents”, “over 45 software product accreditation projects” and “over 45 software product copyright accreditation projects”.
Shanghai Huaqin has had an annual growth rate of over 50% since establishment in 2005, with customers in possession of a variety of first-class phone brand. Since 2009, the company has exploited a wide range of overseas markets and will keep on providing better products for worldwide consumers.
Shanghai Huaqin has signed a license agreement with Qualcomm Inc. to venture into the 3G CDMA 2000 telecom equipment market.
Though the CDMA 2000 telecom equipment is withering, cell phone makers are still having great interests in it. Such move of Shanghai Huaqin is aiming at the opportunities brought by the upgrading of 3G networks of China Telecom after it takes over the CDMA networks from China Unicom. President of Shanghai Huaqin QIU Wensheng said that the partnership with Qualcomm Inc. would help Shanghai Huaqin provide its customers with better products and services.
Qualcomm Inc. is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies.
Headquartered in San Diego, California, the United States, Qualcomm Inc. is included in the S&P 100 Index, the S&P 500 Index and is a 2008 FORTUNE 500® company traded on The Nasdaq Stock Market® under the ticker symbol QCOM.
The business of Shanghai Huaqin in China keeps on expanding.
The subject is fully supported by Shanghai Huaqin.
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
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UK Pound |
1 |
Rs.77.58 |
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Euro |
1 |
Rs.67.58 |
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.