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Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
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Name : |
HAIER
INTERNATIONAL CO. LTD |
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Registered Office : |
Room 2815,
28/F., Shun Tak Centre, |
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Country : |
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Date of Incorporation : |
10.09.2004 |
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Com. Reg. No.: |
34915334 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Manufacturer and Exporter of all kinds of household electric appliances |
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No. of Employees : |
20. (Including associate) |
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 : |
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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
HAIER INTERNATIONAL CO. LTD.
Room 2815, 28/F., Shun Tak Centre, 168-200 Connaught Road Central, Sheung Wan, Hong Kong.
PHONE: 2169 3338
FAX: 2169 3938
E-MAIL: service@haierhk.com
Managing Director: Ms. Zhou Yun Jie
Incorporated on: 10th September, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$2.00
Business Category: Household Electric Appliance Trader.
Employees: 20. (Including associate)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
Registered Head
Office:-
Room 2815, 28/F., Shun Tak Centre, 168-200 Connaught Road Central, Sheung Wan, Hong Kong.
Holding Company:-
Haier Electrical Appliances Corporation Ltd., China.
Ultimate Holding
Company:-
Haier Group Corporation, China.
Associated/Affiliated
Companies:-
Haier Group of Companies
Chongqing Haier Washing Machine Co. Ltd., China.
Chongqing Haier Water Heater Co. Ltd., China.
Foshan Shunde Haier Electric Co. Ltd., China.
Foshan Shunde Haier Intelligent Electronic Co. Ltd., China.
Haier (Hong Kong) Co. Ltd., Hong Kong.
Haier Business Development Ltd., Hong Kong.
Haier Electronics Group Co. Ltd., Bermuda/Hong Kong.
Haier Indesit (Qingdao) Electrical Appliance Co. Ltd., China.
Haier Indesit (Qingdao) Washing Machine Co. Ltd., China.
Haier Int (HK) Co. Ltd., Hong Kong.
Haier International (HK) Ltd., Hong Kong.
Haier Technology
Co. Ltd., British Virgin Islands.
Hefei Haier Washing Machine Co. Ltd., China.
Qingdao Economy & Technology Development Zone Haier Water Heater Co. Ltd., China.
Qingdao Haier Co. Ltd., China.
Qingdao Haier Washing Machine Co. Ltd., China.
Qingdao Jiaonan Haier Washing Machine Co. Ltd., China.
Wuhan Haier Water Heater Co. Ltd., China.
etc.
34915334
0921818
Managing Director: Ms. Zhou Yun Jie
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$2.00
(As per registry
dated 10-09-2011)
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Name |
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No. of shares |
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Haier Electrical Appliances Corporation Ltd. 1 Haier Road, Haier Industrial Park, Hi-Tech Zone, Qingdao 26610, China. |
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2 = |
(As per registry
dated 10-09-2011)
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Name (Nationality) |
Address |
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TAN Li Xia |
No. 1, 71 Tuandao Yi Road, Shinan District, Qingdao City, Shandong Province, China. |
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ZHOU Yun Jie |
No. 50 Yan’an Yi Road, Shibei District, Qingdao City, Shandong Province, China. |
(As per registry
dated 10-09-2011)
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Name |
Address |
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KONG Lu |
43/F., Flat I, Queen’s Terrace, 1 Queen Street, Hong Kong. |
The subject was incorporated on 10th September, 2004 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.
Activities: Manufacturer and Exporter.
Lines: All kinds of household electric appliances.
Employees: 20. (Including associate)
Materials/Commodities: Imports raw materials from European countries, some of the Asian countries and finished
products from China.
Markets: Worldwide countries.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$2.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a normal manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong.
Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Good.
Haier International Co. Ltd. is a wholly-owned subsidiary of Haier Electrical Appliances Corporation Ltd. which is a China-based firm. The ultimate holding company of the subject Haier Group Corporation [Haier] is also a China-based firm. Haier is in Qingdao City, Shandong Province, China.
The subject is responsible for marketing the Group’s products.
Haier is primarily a producer of household appliances (white goods), including air conditioners, washing machines, refrigerators, etc. Its headquarters are in Qingdao, Shandong, the People’s Republic of China. As of 2008, Haier is the fourth-largest white goods manufacturer in the world. Haier Group reported sales of over RMB122 billion Yuan across all divisions in 2008. In 2011, the total sales of the Group was about RMB151 billion Yuan.
Now, Haier has had 29 manufacturing bases throughout the world. It also owns 16 Industrial Parks in China.
Haier was founded as Qingdao Refrigerator Co. in 1984. With China opening up to world markets, foreign corporations began searching for partnerships in China. One of these, Germany’s Liebherr Group, entered into an agreement with Qingdao Refrigerator Co., offering technology and equipment to its Chinese counterpart. Refrigerators were to be manufactured under the name of Qingdao-Liebherr. By 1986, Qingdao Refrigerator had returned to profitability and sales growth averaged 83% per year. With sales of just RMB3.5 million Yuan in 1984, sales rocketed to RMB40.5 billion Yuan by 2000.
Having diversified its product line beyond refrigerators, the company adopted a new name in 1991. Qingdao Haier Group was further simplified in 1992 to Haier Group, the company’s current name.
In 1995, Haier bought out its chief rival in Qingdao, Red Star Electric Appliance Factory. In 1997, the company moved into television manufacturing with the acquisition of Huangshan Electronics Group. By the end of the 1990s, Haier was the most recognized brand in the country with products ranging from mobile phones to computers; it had also captured a dominant market share in its core white goods division.
Its place in the domestic market secure, Haier moved onto the international stage with the goal of building a global brand name. The company opened a production facility in Indonesia in 1996, and the Philippines and Malaysia in 1997.
With this success, Haier looked to make further inroads in the North American market by moving into the full-sized refrigerator category. This would bring it into direct competition with established American giants: GE, Whirlpool, Frigidaire, and Maytag. As part of its strategy, Haier decided to build a production facility in the United States at Camden, South Carolina, opened in 2000.
Haier continued its expansion into other international markets as well. Production facilities were constructed in Pakistan in 2002 and Jordan in 2003, greatly strengthening its position in the Middle East market. In Africa, Haier has plants in five countries: Tunisia, Nigeria, Egypt, Algeria and South Africa. The company also purchased a factory in Italy, as part of its continued drive into the European market. Haier has been successful in placing its products in most major European retail chains, either under its own brand or under OEM agreements with foreign partners. Currently Haier is about to enter into a joint venture agreement with the government of Venezuela.
As of 2008, Haier has surpassed rival Whirlpool as the world’s top refrigerator producer in terms of sales, according to Euromonitor, the world’s leading independent business intelligence provider. Haier said it sold 12 million refrigerators worldwide last year, up 20% over the previous year. Its market share reached 6.3% globally.
Haier has had a subsidiary company Haier Electronics Group Co. Ltd. [Haier EG] which is a listed firm in Hong Kong. Haier EG is listed on the Main Board of The Stock Exchange of Hong Kong Ltd. It and its subsidiaries are principally engaged in the research, development, production and sale of washing machines and water heaters under the brand name of “Haier”. Haier EG developed integrated channel service business from the second quarter of 2010. Through Goodaymart, it has established channel distribution points in the third and fourth-tier nationwide markets and has become the leading integrated channel services provider in the China market. Haier EG’s immediate holding company, Qingdao Haier Co. Ltd. (SHA: 600690), is listed on the Shanghai Stock Exchange, China.
The subject is fully supported by the Haier Group.
On the
whole, consider it good for normal business
engagements.
REMARKS:
Brief personal profile of the principal director:-
Mr.
ZHOU Yun Jie, aged 45, has served as an Executive Director of the Haier
since 12th November, 2009. He is also a member of the remuneration
committee, nomination committee and strategic committee of Haier EG. Mr. Zhou graduated from the Huazhong University
of Science and Technology, the PRC with a Bachelor’s degree in Engineering in
1988. He has a Master’s degree in corporate
management from the Ocean University of China, the PRC and has completed his
Doctoral courses with a diploma in Management from the Xian Jiaotong
University, the PRC. He joined the Haier
Group in 1988 and has over 20 years of experience in the sales management and
enterprise management. Currently, he is the General Manager of
Haier EG and also a director of the following Group’s subsidiaries: Chongqing
Hairi Logistics Co. Ltd., Chongqing New Goodaymart Electronics Sales Co. Ltd.,
Goodaymart (Shanghai) Investment Co.
Ltd., Haier Electronics Sales (Hefei) Co. Ltd., Haier Electronics Sales (HK) Co. Ltd., Hefei Goodaymart Logistics Co. Ltd., Qingdao Haier Goodaymart
Logistics Co. Ltd., Qingdao Haier Logistics Co. Ltd., Qingdao Lejia Electric Appliances Co. Ltd., SHC International
(HK) Ltd., Ocean Vast
Investments Ltd., Haier Group E‑commerce Co. Ltd., Qingdao Goodaymart
Electronics Service Co. Ltd.,
Pegasus Telecom (Hong Kong) Co. Ltd.,
HH Retail Ltd., Haier
International Business Corporation Ltd.,
Haier Electrical Appliances Fourth Holdings (BVI) Ltd., Haier Washing Machines Holdings (BVI) Ltd., Haier Water Heaters Holdings
(BVI) Ltd. and Haier Holdings
(BVI) Ltd. He is also an Executive Vice President of
Haier Group.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.93 |
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UK Pound |
1 |
Rs.88.15. |
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Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.