MIRA INFORM REPORT

 

 

Report Date :           

14.01.2012

 

IDENTIFICATION DETAILS

 

Name :

HUAWEI DEVICE  (HONG  KONG)  CO.  LTD.

 

 

Formerly Known As :

Huawei Communication Technologies Co. Ltd

 

 

Registered Office :

Room 4, 9/F., Tower 6, The Gateway, 9 Canton Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

10.04.2008

 

 

Com. Reg. No.:

39145235

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of USB modems, wireless modems, embedded modules, fixed wireless terminals, wireless gateways, set-top boxes, mobile handsets and video products, etc.

 

 

No. of Employees :

Over 110,000

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

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 30th, 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

 

HUAWEI  DEVICE  (HONG  KONG)  CO.  LTD.

 

 

company ADDRESS

 

Room 4, 9/F., Tower 6, The Gateway, 9 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2588 1899,  2125 3888

FAX:                 2802 0768

EMAIL:             huaweihk@huawei.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Guo Ping

 

 

SUMMARY

 

Incorporated on:             10th April, 2008.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$62,400,000.00

Issued:              HK$62,400,000.00

 

Business Category:        Telecommunication Equipment Trader.

 

Group Revenue:             RMB185,176 million Yuan  (Year ended 31-12-2010)

 

Group Employees:         Over 110,000.

 

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

 

Banking Relation:           Good.

Company ADDRESS

 

Registered Head Office:-

Room 4, 9/F., Tower 6, The Gateway, 9 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

 

Holding Company:-

Huawei Device Co. Ltd., China.

 

Intermediate Holding Company:-

Huawei Technologies Co. Ltd.

Bantian, Longgang District, Shenzhen 518129, China.

[Tel: (86-755) 2878 0808]

 

Ultimate Holding Company:-

Shenzhen Huawei Investment & Holding Co. Ltd., China.

 

Associated Companies:-

Huawei Group of Companies

·         FutureWei Technologies Inc., USA.

·         HiSilicon Technologies Co. Ltd., China.

·         Huawei America Inc., USA.

·         Huawei del Per S.A.C., Peru.

·         Huawei Device Technologies Co. Ltd., China.

·         Huawei Do Brasil Telecommunicacoes Ltda., Brazil.

·         Huawei Marine Systems Co. Ltd., Hong Kong.

·         Huawei Services (Hong Kong) Co. Ltd., Hong Kong.

·         Huawei Symantec Technologies Co. Ltd., Hong Kong.

·         Huawei Tech (UAE) FZ-LLC, UAE.

·         Huawei Tech. Investment Co. Ltd., Hong Kong.

·         Huawei Technologies (Australia) Pty. Ltd., Australia.

·         Huawei Technologies (Czech) s.r.o., Czech Republic.

·         Huawei Technologies (Ireland) Co. Ltd., Ireland.

·         Huawei Technologies (Kenya) Co. Ltd., Kenya.

·         Huawei Technologies (Netherlands) B.V., Netherlands.

·         Huawei Technologies (Thailand) Co. Ltd., Thailand.

·         Huawei Technologies (UK) Co. Ltd., UK.

·         Huawei Technologies Canada Co. Ltd., Canada.

·         Huawei Technologies de Mexico S.A. de C.V., Mexico.

·         Huawei Technologies Denmark ApS, Denmark.

·         Huawei Technologies Deutschland GmbH, Germany.

·         Huawei Technologies Espana S.L., Spain.

·         Huawei Technologies France SAS, France.

·         Huawei Technologies Italia S.r.l., Italy.

·         Huawei Technologies Japan KK, Japan.

·         Huawei Technologies Korea Co. Ltd., South Korea.

·         Huawei Technologies Lanka Co. (Pvt) Ltd., Sri Lanka.

·         Huawei Technologies Malaysia Sdn. Bhd., Malaysia.

·         Huawei Technologies Phils. Inc., Philippines.

·         Huawei Technologies South Africa Pty. Ltd., South Africa.

·         Huawei Technologies Sweden AB, Sweden.

·         Huawei Telecommunications (India) Co. Pvt. Ltd., India.

·         Industria Electronica Orinoquia S.A., Venezuela.

·         P.T. Huawei Tech Investment, Indonesia.

·         Shenzhen Huawei Information Technology Co. Ltd., China.

·         TD Tech Holding Ltd., Hong Kong.

etc.

 

Affiliated Company:-

Smartcom (Hong Kong) Co. Ltd., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

39145235

 

 

COMPANY FILE NUMBER

 

1225505

 

 

MANAGEMENT

 

Managing Director:  Mr. Guo Ping

 

 

CAPITAL

 

Nominal Share Capital:   HK$62,400,000.00 (Divided into 62,400,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$62,400,000.00

 

SHAREHOLDER  

(As per registry dated 10-04-2011)

 

Name

 

No. of shares

Huawei Device Co. Ltd.

Block 2, Area B, Huawei Base, Bantian, Longgang District, Shenzhen, China.

 

62,400,000

========

 

 

DIRECTORS

(As per registry dated 10-04-2011)

 

Name

(Nationality)

 

Address

GUO Ping

Ren Cai Fu Wu Gong Si, Block B, Bin Jiang Xin Cun, Futian District, Shenzhen, China.

 

HU Hou Kun

Room 607, Lan Yuan Building, Shekou, Nanshan District, Shenzhen, China.

 

XU Wen Wei

Room 602, H Building, Tao Yuan Road, Nanshan District, Shenzhen, China.

 

XU Zhi Jun

12C, North Block, Jing Yuan Da Sha, Shekou, Nanshan District, Shenzhen, China.

 

 

SECRETARY

(As per registry dated 10-04-2011)

 

Name

Address

Co. No.

Louis Lai Co. Secretarial Services Ltd.

9/F., Surson Commercial Building, 140-142 Austin Road, Tsimshatsui, Kowloon, Hong Kong.

0686503

 

 

HISTORY

 

The subject was incorporated on 10th April, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Huawei Communication Technologies Co. Ltd., name changed to the present style on 11th January, 2010.

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

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           USB modems, wireless modems, embedded modules, fixed wireless terminals, wireless

gateways, set-top boxes, mobile handsets and video products, etc.

 

Group Employees:         Over 110,000.

 

Materials/Commodities:  Imports raw materials and spare parts from Europe and finished products from

Shenzhen, China.

 

Markets:                       Hong Kong and worldwide.

 

Group Revenue: RMB  66,365 million Yuan  (Year ended 31-12-2006)

RMB  93,792 million Yuan  (Year ended 31-12-2007)

RMB125,217 million Yuan  (Year ended 31-12-2008)

RMB149,059 million Yuan  (Year ended 31-12-2009)

RMB185,176 million Yuan  (Year ended 31-12-2010)

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$62,400,000.00 (Divided into 62,400,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$62,400,000.00

 

Group Net Profit:            RMB  3,999 million Yuan  (Year ended 31-12-2006)

RMB  7,558 million Yuan  (Year ended 31-12-2007)

RMB  7,848 million Yuan  (Year ended 31-12-2008)

RMB18,274 million Yuan  (Year ended 31-12-2009)

RMB23,757 million Yuan  (Year ended 31-12-2010)

 

Profit or Loss:                Group business is profitable.

 

Condition:                      Keeping in an active and good condition.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met as contracted.

 

Commercial Morality:     Good.

 

Bankers:-

·         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

·         Fleet National Bank, Hong Kong Branch.

·         Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.

 

Standing:  Good.

 

 

GENERAL

 

Huawei Device (Hong Kong) Co. Ltd. is a wholly-owned subsidiary of Huawei Device Co. Ltd. which is a China-based firm.  The ultimate holding company of the subject Shenzhen Huawei Investment & Holding Co. Ltd. [Huawei] is also a China-based firm.  Huawei is engaged in three main lines of business, namely, Mobile Phone, Mobile Broadband and Home Device.

The subject is a member of the Huawei Group of companies.  The subject, belonging to the Devices Division [DD], is a home device manufacturer and trader.  Huawei’s DD provides white-label products to content service providers, including USB modems, wireless modems, embedded modules, fixed wireless terminals, wireless gateways, set-top boxes, mobile handsets and video products.  Huawei’s DD also produces and sells a variety of devices under its own name, such as the IDEOS smartphones and tablet PCs.  Recent products include U8800, E220, Ascend, U7519, and U8150.  In 2010, Huawei’s DD shipped 120 million devices around the world.  30 million cell phones, of which 3.3 million units were smartphones, were shipped to markets such as Japan, the United States and Europe.

Established in 1988, Huawei is a leader in providing next generation telecommunications networks.  It is a high-tech enterprise which is specialized in research and development [R&D], production, marketing and service provision of technologies, products and solutions in the information and communications fields.  Its products can be divided into the following categories — wireless network, fixed network, optical network, data communications network, application and software, and wireless terminals — ranging from switching, integrated access network, NGN, xDSL, optical transport, intelligent network, support network, GSM, GPRS, W-CDMA, CDMA2000 1x, full series of routers and LAN switches, videoconferencing to other key telecom technology fields.  Major products are based on Huawei’s self-designed ASIC chips and shared platforms to provide high‑quality and cost-effective products and solutions with quick response.

In order to support its global operations, Huawei has set up its global R&D centres located at Bangalore in India, Silicon Valley and Dallas in the United States, Stockholm in Sweden, Moscow in Russia, as well as China-based institutes in Shenzhen, Shanghai, Beijing, Nanjing, Xi’an, Chengdu, Hangzhou and Wuhan.

Huawei has been working with leading consultancies such as IBM, the Hay Group, KPMG, PwC, FhG, Mercer and Gallup to carry out management transformation in order to keep abreast with international industrial benchmarks.  In terms of integrated product development [IPD], integrated supply chain [ISC], human resources management, financial management and quality control, Huawei has undergone comprehensive transformation, introduced the industry’s best practices, and established IT-supported management platforms.

Huawei has widely implemented CMM5 and IPD into its product development, and through the cooperation of its multicultural team, Huawei is able to make its international R&D strategy a reality.  In fact, its R&D institutes in Bangalore, Nanjing, Shenzhen and Shanghai have all achieved CMM-level 5 certification, demonstrating that Huawei’s software management and quality control have already reached the highest level in the industry.

Huawei’s customers include China Telecom, China Mobile, China Unicom, China Netcom as well as Thai AIS, South Korea Telecom, SingTel, Telemar (Brazil), Telefonica, Hutchison Telecom, PCCW HKT, SUNDAY, Etisalat (UAE), Rostelecom (Russia), etc.

2011 has been a difficult year so far.  The Group has witnessed a complex external environment due to natural disasters, political conflicts and economic challenges.  This environment may present uncertainties for business development.  The sales revenue of the Group for 2010 amounted to RMB185,176 million Yuan (2009: RMB149,059 million Yuan), up 24.2% from the previous year.  This progress was mainly driven by significant growth in its overseas markets as well as rapid and balanced development of its Telecom Networks, Devices and Global Services business segments.  Net profit of the Group for the year was RMB23,757 million Yuan (2009: RMB18,274 million Yuan), grew by 30.0% as compared with previous year.

Huawei’s products and solutions have been widely deployed in European countries including the United Kingdom, France, Germany, Spain, the Netherlands, etc.  It also achieved significant improvement in Japan and the US markets.  Of all of Huawei’s products, mobile products make up the biggest proportion of total sales.

In 2011, under the leadership of Huawei’s new Board of Directors, the Group will further promote its transformation towards a customer-centric organization with dedicated employees as its foundation.  The Group will continue to streamline its management practices and improve operational efficiency to be more responsive and to meet its customer needs.  Huawei will establish four business groups: Carrier Network, Enterprise Business, Device Business, and Other Business, in an effort to set clear goals for the respective business areas and to simplify organizational structure and management processes.

Huawei expanded its business into new segments in order to create value for its customers, helping them to seize the opportunities from the convergence of the IT and CT industries.  Huawei’s cloud computing solutions facilitated various industries in shifting to cloud technology, while promoted an open and balanced cloud computing industrial chain, together with its business partners.  Huawei strategically increased investment in the enterprise market and helped customers in the e-government, finance, energy, education and retail sectors to improve their operational efficiency.

In 2010, Huawei signed a Voluntary Energy Conservation Agreement with the China Ministry of Industry and Information Technology [MIIT] to jointly promote the strategic objectives of energy conservation and emission reduction in China’s telecommunication industry.  Huawei is committed to reducing 35% of the average energy consumption of its product shipments by the end of 2012, using that in 2009 as a basis.  The signing of the agreement would be able to increase the general awareness of the industry on energy conservation and promote the global green revolution in the long run.

Huawei also joined the United Nation’s Broadband Commission for Digital Development for accelerating the realization of the vision of “broadband for al” and leveraging broadband to drive social and economic developments.

Currently, Huawei has over 110,000 employees working in over 100 branch offices under 22 regional headquarters worldwide.

On the whole, in view of the parentage of the subject, consider it good for normal business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.43

UK Pound

1

Rs.79.10

Euro

1

Rs.66.17

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.