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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
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Name : |
ZOWEE TECHNOLOGY (HONGKONG) CO. LTD. |
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Registered Office : |
Room K1, Block B, 16/F., Universal Industrial Centre, 19-25 Shan Mei Street,
Fo Tan, Shatin, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.09.2007 |
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Com. Reg. No.: |
38354992 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Electronic Product Trader of Electronic products, mobile phones,
networking and communication products |
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No. of Employees : |
4 |
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 : |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
hong kong - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on
international trade and finance - the value of goods and services trade,
including the sizable share of re-exports, is about four times GDP. Hong Kong
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong
Kong's open economy left it exposed to the global economic slowdown that began
in 2008. Although increasing integration with China, through trade, tourism,
and financial links, helped it to make an initial recovery more quickly than
many observers anticipated, it again faces a possible slowdown as exports to
the Euro zone and US slump. The Hong Kong government is promoting the Special
Administrative Region (SAR) as the site for Chinese renminbi (RMB)
internationalization. Hong Kong residents are allowed to establish
RMB-denominated savings accounts; RMB-denominated corporate and Chinese
government bonds have been issued in Hong Kong; and RMB trade settlement is
allowed. The territory far exceeded the RMB conversion quota set by Beijing for
trade settlements in 2010 due to the growth of earnings from exports to the
mainland. RMB deposits grew to roughly 9.1% of total system deposits in Hong
Kong by the end of 2012, an increase of 59% from the previous year. The
government is pursuing efforts to introduce additional use of RMB in Hong Kong
financial markets and is seeking to expand the RMB quota. The mainland has long
been Hong Kong's largest trading partner, accounting for about half of Hong
Kong's exports by value. Hong Kong's natural resources are limited, and food
and raw materials must be imported. As a result of China's easing of travel
restrictions, the number of mainland tourists to the territory has surged from
4.5 million in 2001 to 34.9 million in 2012, outnumbering visitors from all
other countries combined. Hong Kong has also established itself as the premier
stock market for Chinese firms seeking to list abroad. In 2012 mainland Chinese
companies constituted about 46.6% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 57.4% of the Exchange's market capitalization.
During the past decade, as Hong Kong's manufacturing industry moved to the
mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011,
and less than 2% in 2012. Credit expansion and tight housing supply conditions
caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in
2012. Lower and middle income segments of the population are increasingly
unable to afford adequate housing. Hong Kong continues to link its currency
closely to the US dollar, maintaining an arrangement established in 1983.
|
Source
: CIA |
ZOWEE TECHNOLOGY
(HONGKONG) CO. LTD.
Room K1, Block B, 16/F., Universal
Industrial Centre, 19-25 Shan Mei Street, Fo Tan, Shatin, New Territories, Hong
Kong.
(Formerly located at:
Flat F, 17/F., International Industrial Centre, 2-8 Kwei Tei Street, Fo
Tan, Shatin, New Territories, Hong Kong.)
PHONE: Not available.
FAX: Not available.
E-MAIL: huaw@zowee.com.cn
Managing Director: Mr.
Xia Chuan Wu
Incorporated on: 3rd
September, 2007.
Organization: Private
Limited Company.
Capital: Nominal: US$100,000.00
Issued: US$100,000.00
Business Category: Electronic Product Trader.
Group Turnover: RMB1,469.8
million Yuan (Year ended 31-12-2012)
Employees: 4.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
ZOWEE TECHNOLOGY
(HONGKONG) CO. LTD.
Registered Head
Office:-
Room K1, Block B, 16/F., Universal Industrial Centre, 19-25 Shan Mei
Street, Fo Tan, Shatin, New Territories, Hong Kong.
Holding Company:-
Shenzhen Zowee Technology Co. Ltd., China.
Associated
Companies:-
Shenzhen Zhongguang Video Technology Development Co. Ltd., China.
Shenzhen Zowda Precision Mold Co. Ltd., China.
Tianjin Zhouda Technology Development Co. Ltd., China.
38354992
1163833
Managing Director: Mr. Xia Chuan
Wu
Nominal Share Capital: US$100,000.00
(Divided into 100,000 shares of US$1.00 each)
Issued Share Capital: US$100,000.00
(As per registry dated 03-09-2012)
|
Name |
|
No. of shares |
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Shenzhen Zowee Technology Co. Ltd. Block 5, Science & Technology Industrial Park of Privately Owned
Enterprises, Pingshan, Xili, Nanshan District, Shenzhen, China. |
|
100,000 ====== |
(As per registry dated 13-08-2013)
|
Name (Nationality) |
Address |
|
XIA Chuan Wu |
13B, Block 5, Jinduanzhibin, 1002 Technology South Road, Nanshan
District, Shenzhen, China. |
(As per registry dated 03-09-2012)
|
Name |
Address |
Co. No. |
|
Hong Kong Professional Secretarial Ltd. |
Room 1011, 10/F., Wu Sang House, 655 Nathan Road, Kowloon, Hong
Kong. |
0729969 |
The subject was incorporated on 3rd September, 2007 as a private limited
liability company under the Hong Kong Companies Ordinance.
Last time, the subject was located at Flat F, 17/F., International
Industrial Centre, 2-8 Kwei Tei Street, Fo Tan, Shatin, New Territories, Hong
Kong, moved to the present address with effect from 9 October, 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Electronic
Product Trader.
Lines: Electronic
products, mobile phones, networking and communication products.
Employees: 4.
Commodities Imported: Japan, other Asian countries, Europe, US, etc.
Markets: China,
other Asian countries, Europe, etc.
Group Turnover: RMB 870.5 million
Yuan (Year ended 31-12-2010)
RMB1,237.6 million
Yuan (Year ended 31-12-2011)
RMB1,469.8 million
Yuan (Year ended 31-12-2012)
Company Turnover: RMB404.3 million Yuan
(Year ended 31-12-2012)
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: US$100,000.00 (Divided into 100,000 shares of
US$1.00 each)
Issued Share Capital: US$100,000.00
Group Net Profit: RMB74.0 million Yuan
(Year ended 31-12-2010)
RMB98.5 million
Yuan (Year ended 31-12-2011)
RMB84.9 million
Yuan (Year ended 31-12-2012)
Company Net Profit: RMB5.0
million Yuan (Year ended 31-12-2012)
Company Total Assets: RMB66.8 million Yuan (Year ended 31-12-2012)
Company Net Assets: RMB15.0
million Yuan (Year ended 31-12-2012)
Profit or Loss: Group business is profitable.
Condition: Keeping
in a satisfactory manner.
Facilities:
Making rather
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.
Zowee Technology (Hongkong) Co. Ltd. is a wholly-owned subsidiary of
Shenzhen Zowee Technology Co. Ltd. [Zowee] which is a China-based firm.
The director of the subject Mr. Xia Chuan Wu is a China merchant. Zowee is a listed firm in Shenzhen Special
Economic Zone, China as its shares have been traded in Shenzhen Stock Exchange
since 2010.
The production centre of Zowee is in Xili Town and Songgang Town, Bao’an
District, Shenzhen Special Economic Zone, China.
The subject is carrying the same products as Zowee.
Located in Tower 5, Science &Technology Industrial Park, Pingshan,
Xili, Zowee is a high-tech enterprise which covers a land site of 14,000
sq.m. It is integrated with the
research, development and manufacture，dedicated to the
development and production of three main electric categories, including
assorted Networking and Communication products, Consumer Digital products,
Handset products and provides clients with the service of OEM/ODM.
In the rapid development of past few years, it has been conferred the
title of High-tech Enterprise in Shenzhen, One member of CMMB Industry
Technical Standardized Group, AA Enterprises in Shenzhen Customs, One of the
top 500 companies in Shenzhen SEZ, the on list Credit Association enterprise in
Shenzhen, one of the top 10 export and large taxpayer in Nanshan District and
Government funds supported enterprise.
It has got fund support in the field of Information Industrial
Construction, abatement of tax, financial pay interest and revenue. Also, it has set up a research centre with
Beijing University Shenzhen Branch to co-research in digital media transmission
& Input device.
As a high-tech enterprise, Zowee is specialized in the integrated
service of assorted Networking & Communication products, Portable Consumer
Digital products. After a few-year’s
rapid development, our company has turned out to be the qualified ODM supplier
of many famous brands at home and abroad. Zowee has been engaged in the deep and
wide-range strategic cooperation with many first-class enterprises such as
Lenovo, Huawei, ZTE, ASUS, and so on.
In FY 2012, the turnover of the Group is RMB1,469.8 million Yuan
(FY 2011: RMB1,237.6 million Yuan), net profit was RMB84.9 million Yuan
(FY 2011: RMB98.5 million Yuan).
Mr. XIA Chuan Wu is also a CEO of Zowee.
In FY 2012, the turnover of the subject amounted to RMB404.3 million
Yuan, net profit was RMB5.0 million Yuan.
The subject is fully supported by Zowee.
History in Hong Kong is about six years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.101.20 |
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Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
---- |
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.