MIRA INFORM REPORT

 

 

Report Date :           

20.01.2012

 

IDENTIFICATION DETAILS

 

Name :

TCL  HOME  APPLIANCES  (HK)  CO.  LTD.

 

 

Registered Office :

13/F., TCL Tower, 8 Tai Chung Road, Tsuen Wan, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

04.11.2008

 

 

Com. Reg. No.:

39968528

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer and Exporter of all kinds of 14” to 38” colour televisions, VCD players, SVCD players, DVD players, hi-fi systems and home-cinema hi-fi systems

 

 

No. of Employees :

51,673 (Group)

 

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

 

Maximum Credit Limit :

US$5,000,000

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

 

TCL  HOME  APPLIANCES  (HK)  CO.  LTD.

 

 

Company ADDRESS

 

13/F., TCL Tower, 8 Tai Chung Road, Tsuen Wan, New Territories, Hong Kong.

PHONE:                        2417 7183,  2437 7300

FAX:                 2417 7181,  2405 8400

E-MAIL:                        marketing@tclhk.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Li Shubin

 

 

SUMMARY

 

Incorporated on:             4th November, 2008.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$100,000.00

Issued:              HK$100,000.00

 

Business Category:        Trading in audio-visual products and components.

 

Group Turnover:             RMB51,869,879,626 Yuan  (Year ended 31-12-2010)

 

Group Employees:         51,673.  (As at 31-12-2010)

 

Main Dealing Banker:     Bank of China (Hong Kong) Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

 

Credit Border Line:      Good for credit of US$5,000,000 or less.

Company ADDRESS

 

Registered Head Office:-

13/F., TCL Tower, 8 Tai Chung Road, Tsuen Wan, New Territories, Hong Kong.

 

Holding Company:-

TCL Home Appliances Co. Ltd., Hong Kong.

 

Ultimate Holding Company:-

TCL Corporation, China.

 

Affiliated/Associated Companies:-

TCL Group of Companies

·         Foshan TCL Household Appliances (Nanhai) Co. Ltd., China.

·         Guangdong Yijiatong Technical Development of Digital Home Co. Ltd., China.

·         Guangzhou Digital Rowa Technology Co. Ltd., China.

·         Henan TCL Melody Electronics Co. Ltd., China.

·         Huizhou Bri-King Optronics Co. Ltd., China.

·         Huizhou TCL King Technology Co. Ltd., China.

·         Huizhou TCL Lighting Appliance Co. Ltd., China.

·         Inner Mongolia TCL Electrical Appliance Co. Ltd., China.

·         Manufacturas Avanzadas S.A. de C.V., Mexico.

·         Shenzhen TCL New Technology Co. Ltd., China.

·         TCL (Vietnam) Corporation Ltd., Vietnam.

·         TCL Air Conditioner (Wuhan) Co. Ltd., China.

·         TCL Air Conditioner (Zhongshan) Co. Ltd., China.

·         TCL Belgium S.A., Belgium.

·         TCL Delonghi Home Appliances (Zhongshan) Co. Ltd., China.

·         TCL Electrical Appliance Sales Co. Ltd., China.

·         TCL Electronics (HK) Ltd., Hong Kong.

·         TCL Electronics (Thailand) Co. Ltd., Thailand.

·         TCL Finance Co. Ltd., China.

·         TCL Holdings (BVI) Ltd., British Virgin Islands/Hong Kong.

·         TCL Household Appliances (Qingdao) Co. Ltd., China.

·         TCL India Holdings Pvt. Ltd., India.

·         TCL Information Technology Industrial (Group) Co. Ltd., British Virgin Islands/ Hong Kong.

·         TCL International Electronics (BVI) Ltd., British Virgin Islands/Hong Kong.

·         TCL King Electrical Appliances (Chengdu) Co. Ltd., China.

·         TCL King Electrical Appliances (Huhehaote) Co. Ltd., China.

·         TCL King Electrical Appliances (Huizhou) Co. Ltd., China.

·         TCL King Electrical Appliances (Nanchang) Co. Ltd., China.

·         TCL King Electrical Appliances (Wuxi) Co. Ltd., China.

·         TCL King Electronics (Shenzhen) Co. Ltd., China.

·         TCL Lighting Electrical Appliance (Wuhan) Co. Ltd., China.

·         TCL OEM Sales Ltd., Hong Kong.

·         TCL Operations Polska S.p. z.o.o., Poland.

·         TCL Overseas Consumer Electronics Ltd., Hong Kong.

·         TCL Overseas Electronics (Huizhou) Ltd., China.

·         TCL Overseas Holdings Ltd., British Virgin Islands/Hong Kong.

·         TCL Overseas Marketing (Macao Commercial Offshore) Ltd., Macao.

·         TCL Overseas Marketing Ltd., British Virgin Islands/Hong Kong.

·         TCL RECHI (Huizhou) Refrigeration Equipment Co. Ltd., China.

·         TCL Sun Inc., Philippines.

·         TCL Technology (HK) Co. Ltd., Hong Kong.

·         TCL Technoly Electronics (Huizhou) Co. Ltd., China.

·         TCL-Thomson Electronics (Thailand) Co. Ltd., Thailand.

·         Toshiba Visual Products (China) Co. Ltd., China.

·         TTE (North America) Holdings Ltd., British Virgin Islands/Hong Kong.

·         TTE Corporation, British Virgin Islands/Hong Kong.

·         TTE Technology Canada Ltd., Canada.

·         TTE Technology Inc., USA.

etc.

 

 

BUSINESS REGISTRATION NUMBER

 

39968528

 

 

COMPANY FILE NUMBEr

 

1284484

 

 

MANAGEMENT

 

Managing Director:  Mr. Li Shubin

 

 

CAPITAL

 

Nominal Share Capital:   HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$100,000.00

 

SHAREHOLDER

(As per registry dated 04-11-2011)

 

Name

 

No. of shares

TCL Home Appliances Co. Ltd., Hong Kong.

 

100,000

======

 

 

DIRECTORS  

(As per registry dated 04-11-2011)

 

Name

(Nationality)

 

Address

SHI Wei Yi

No. 102, Nantou Road, Nantou Town, Zhongshan City, Guangdong, China.

 

LI Shu Bin

Room 5-401, No. 19, Yijing Building, Yaofang Garden, 10th Longfeng-Shangpai District, Huizhou, Guangdong, China.

 

WEN Xian Zhen

Room 12-B, No. B, Yijing Garden, 28th East Yunshan Road, Huicheng District, Huizhou, Guangdong, China.

 

 

SECRETARY

(As per registry dated 04-11-2011)

 

Name

Address

Co. No.

Multi-Check Subnom (No. 1) Ltd.

Room 3307, 33/F., Tower 2, Lippo Centre, 89 Queensway, Hong Kong.

0177262

 

 

HISTORY

 

The subject was incorporated on 4th November, 2008 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 and Exporter.

 

Lines:                           All kinds of 14” to 38” colour televisions, VCD players, SVCD players, DVD players, hi-fi

systems and home-cinema hi-fi systems.

 

Trade Mark:                   “TCL”.

 

Office Area:                   11,000 sq.ft. in Hong Kong.

                       

Group Employees:         51,673.  (As at 31-12-2010)

 

Materials/Commodities:  Mainly imports ICs and capacitors from overseas suppliers, and arranges completed

products from its group members in China.

 

Markets:                       Worldwide.

 

Group Turnover: RMB38,419,263,955 Yuan  (Year ended 31-12-2008)

RMB44,295,163,060 Yuan  (Year ended 31-12-2009)

RMB51,869,879,626 Yuan  (Year ended 31-12-2010)

 

Terms/Sales:                 On various terms.

 

Terms/Buying:               As per contracted.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$100,000.00

 

Group Profit Attributable to Shareholders:-

·         RMB501,111,530 Yuan  (Year ended 31-12-2008)

·         RMB470,069,750 Yuan  (Year ended 31-12-2009)

·         RMB432,538,470 Yuan  (Year ended 31-12-2010)

 

Profit or Loss:                Group business is profitable.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Bank of China (Hong Kong) Ltd., Hong Kong.

 

Standing:                      Normal.

 

 

GENERAL

 

TCL Home Appliances (HK) Co. Ltd. is a wholly-owned subsidiary of TCL Home Appliances Co. Ltd. [TCLHAC] which is also a Hong Kong-registered firm.  The subject and TCLHAC are located at the same operating address.  The ultimate holding company of the subject TCL Corporation [TCL] is a China-based firm.  TCL is also a list firm in China.  It has been listed in Shenzhen Stock Exchange bearing Stock Code 000100.  TCL belongs to the “TCL Group”.  All the directors of the subject are China merchants.

The subject and TCLHAC belong to TCL Home Appliance Group and TCL Home Appliances Corporation Overseas Business Division [TCL HAO].

TCL Home Appliance Group has had the following subsidiary companies or divisions:-

·         Air Conditioner Division

·         White Household Appliances Division

·         Small House Appliances Division

·         TCL Delonghi

·         RECHI Refrigeration Equipment Co.

TCL HAO is in charge of the sales of TCL residential air conditioner, commercial air conditioner, dehumidifier, refrigerator, and washing machine.  At the same time, it supplies its customers with after-sales service and marketing support.

Since 2001, the business scope of TCL HAO has been keeping on growing.  In 2007, its products sold well in 141 countries and areas, with sales volume of US$250 million.

In 2010, the sales volume of air-conditioners amounts to US$450 million.  TCL home appliances are claimed to be having reliable quality.  Its products are appreciated by world-wide over 10 million consumers.  At present, Latin America, the Middle East, Southeast Asia, East Asia, Africa, etc. are the main markets.  The exports accounts for 70% of TCL HAO”s total sales volume.

TCL, formerly known as TCL Holdings Corporation Ltd., is a state-owned limited liability company established under the laws of the PRC supervised by the Huizhou Municipal People”s Government.

Founded in 1981, TCL Group is one of the largest consumer electronics enterprises in China with a global presence.  TCL Group has three listed companies: TCL Corporation (SZ.000100), TCL Multimedia (HK.1070) and TCL Communication (HK.2618).

Currently, TCL has set up four business units – TCL Multimedia Holdings, TCL Communication Holdings, China Star Optoelectronics Technology and TCL HAO, as well as six business groups – System Technology Unit, Techne Group, Emerging Business Group, Investment Group, Highly Information Industry and Real Estate Group.

For the year ended 31st December, 2010, the sales of the TCL Group amounted to RMB51,869.9 million Yuan, grew by 17.1% as compared with that of RMB44,295.2 million Yuan in FY 2009; profit attributable to shareholders amounted to RMB432.5 million Yuan, decreased by 8.0% as compared with that of RMB470.1 million Yuan in FY 2009.

TCL had 51,673 employees as at year ended 31st December, 2010.

The subject is fully supported by TCL Home Appliance Group and ultimately by TCL Group.

The history of the subject in Hong Kong is over three years and two months.

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

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.29

UK Pound

1

Rs.77.60

Euro

1

Rs.64.67

 

 

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.