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Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
HONG KONG KONKA LTD. |
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Registered Office : |
11/F., Chinabest International Centre, 8 Kwai On Road, Kwai Chung, New Territories |
|
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Country : |
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Date of Incorporation : |
28.03.1995 |
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Com. Reg. No.: |
18959215 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Wholesaler and Re-Exporter of Colour TVs, Monitors, Fax Machines,
Telephones, Refrigerators, Hi‑Fi Systems, Washing Machines, Cellular
Phones. |
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|
|
|
No of Employees : |
35 |
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 : |
Good |
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Payment Behaviour : |
No Complaint |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 has no tariffs on imported goods, and it levies
excise duties on only four commodities, whether imported or produced locally:
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, its continued
reliance on foreign trade and investment leaves it vulnerable to renewed global
financial market volatility or a slowdown in the global economy. 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 12% of total system
deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have
caused Hong Kong property prices to rise rapidly; consumer prices increased by
more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from January 2014,
cover services and trade facilitation, and will improve access to the
mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
HONG KONG KONKA
LTD.
ADDRESS: 11/F., Chinabest International Centre, 8 Kwai
On Road, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2392 7128
FAX: 852-2392
7638, 2392 7886
E-MAIL: sales@konka.com
linliping@konka.com
ngwaikong@konkahk.com
niuweidong @konka.com
MANAGEMENT:
Managing Director: Mr. Huang
Zhongtian
Incorporated on: 28th March, 1995.
Organization: Private Limited Company.
Issued Capital: HK$500,000.00
Business Category: Importer,
Wholesaler and Re-exporter.
Group Turnover: RMB20,006.7 million Yuan. (Year ended 31-12-2013)
Company Employees: 35.
(Hong Kong)
Group Employees: About 10,000.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
HONG KONG KONKA
LTD.
Registered Head Office:-
11/F., Chinabest International Centre, 8 Kwai On Road, Kwai Chung, New
Territories, Hong Kong.
Parent Company:-
Konka Group Co. Ltd.
Overseas Chinese Town, Nanshan District, Shenzhen Special Economic Zone,
China.
[Tel: (86-755) 2660 8866
Fax: (86-755) 2660 0082, 2690 4133,
2691 2144
E-mail: szkonda@konka.com ]
Associated/Affiliated
Companies:-
·
Konka Group of Companies
·
Anhui Konka Electric Appliance Co. Ltd., China.
·
Anhui Konka Electronic Co. Ltd., China.
·
Anhui Konka Tongchuang Household Appliances Co. Ltd.,
China.
·
Beijing Konka Electronics Co. Ltd., China.
·
Boluo Konka Precision Technology Co. Ltd., China.
·
Boluo Konka Printed Circuit Board Co. Ltd., China.
·
Changshu Konka Electronic Co. Ltd., China.
·
Chongqing Konka Auto Electronic Co. Ltd., China.
·
Chongqing Konka Electronic Co. Ltd., China.
·
Chongqing Qingjia Electronic Co. Ltd., China.
·
Dongguan Konka Electronic Co. Ltd., China.
·
Dongguan Konka Packaging Co. Ltd., China.
·
Dongguan Konka Packing Materials Co. Ltd., China.
·
Dongguan Konka Plastic Mould Co. Ltd., China.
·
Dongguan Xutongda Mould Plastic Co. Ltd., China.
·
EnRay Tek Optoelectronics (Shanghai) Co. Ltd.,
China.
·
Enraytek Optoelectronic Co. Ltd., China.
·
Hongdin Invest Development Ltd., Hong Kong.
·
Indonesia Konka Electronics Co. Ltd., Indonesia.
·
Indonesia Konka Trading Ltd., Indonesia.
·
Konda Pacific Pty. Ltd., Australia.
·
Konka (Europe) Co. Ltd., Germany.
·
Konka (Kunshan) Real Estate Investment Co. Ltd.,
China.
·
Konka (Nanhai) Development Center, China.
·
Konka (USA) Electronic Co. Ltd., US.
·
Konka America Inc., US.
·
Konka Electronic (India) Co. Ltd., India.
·
Konka Household Appliances International Trading
Co. Ltd., China.
·
Konka Household Appliances Investment &
Development Co. Ltd., China.
·
Konray International Development Ltd., Hong Kong.
·
Kunshan Jielunte Molds & Plastic Co. Ltd.,
China.
·
Kunshan Kangsheng Investment Development Co. Ltd.,
China.
·
Kunshan Konka Electronic Co. Ltd., China.
·
Mudanjiang Arctic Ocean Appliance Co. Ltd., China.
·
[Formerly known as Mudanjiang Konka Industrial Co.
Ltd.]
·
Shaanxi Konka Electronic Co. Ltd., China.
·
Shanhai Konka Green Science & Technology Co.
Ltd., China.
·
Shanzhen Konka Optoelectronic Technology Co. Ltd.,
China.
·
Shenzhen Electronic Fittings Technology Co. Ltd.,
China.
·
Shenzhen Konka Communications Technology Co. Ltd.,
China.
·
Shenzhen Konka Electronic Co. Ltd., China.
·
Shenzhen Konka Electronics Technology Co. Ltd.,
China.
·
Shenzhen Konka Energy Technology Co. Ltd., China.
·
Shenzhen Konka Information Network Co. Ltd., China.
·
Shenzhen Konka Injected Plastic Factory, China.
·
Shenzhen Konka Injected Plastic Manufactory Co.
Ltd., China.
·
Shenzhen Konka Optoelectronic Technology Co. Ltd.,
China.
·
Shenzhen Konka Plastic Product Co. Ltd., China.
·
Shenzhen Konka Precision Mould Manufacturing Co.
Ltd., China.
·
Shenzhen Konka Telecommunications Technology Co.
Ltd., China.
·
Shenzhen konka Video & Communication System
Engineering & Co. Ltd., China.
·
Shenzhen Konka Visual Information System
Engineering Co. Ltd., China.
·
Shenzhen Refond Optoelectronics Co. Ltd., China.
·
Shenzhen Shushida Electronic Co. Ltd., China.
·
Shenzhen Shushida Logistics Service Co. Ltd.,
China.
·
Shenzhen Wankaida Science & Technology Co.
Ltd., China.
18959215
0509730
Managing Director: Mr. Huang
Zhongtian
ISSUED CAPITAL: HK$500,000.00
(As per registry dated 28-03-2014)
|
Name |
|
No. of shares |
|
Konka Group Co. Ltd. Overseas Chinese Town, Nanshan District, Shenzhen Special Economic
Zone, China. |
|
495,000 |
|
Shenzhen Konka Injected Plastic Manufactory Co. Ltd. Overseas Chinese Town, Nanshan District, Shenzhen Special Economic
Zone, China. |
|
5,000 |
|
|
|
––––––– |
|
|
Total: |
500,000 ====== |
(As per registry dated 28-03-2014)
|
Name (Nationality) |
Address |
|
CHANG Dong |
Room 6D, Block 5, Kangjai Court, Shantou Street, Overseas Chinese
City, Nanshan Dirtrict, Shenzhen Special Economic Zone, China. |
|
LI Hai Tao |
Room 604, Block 3, Kangjai Court, Shantou Street,
Overseas Chinese City, Nanshan Dirtrict, Shenzhen Special Economic Zone,
China. |
|
XIAO Qing |
Yikang Building, Shantou Street, Overseas Chinese City, Nanshan
Dirtrict, Shenzhen Special Economic Zone, China. |
(As per registry dated 28-03-2014)
|
Name |
Address |
Co. No. |
|
T.N. Luu Ho Consultants Ltd. |
Room 2702-2703, 27/F., C.C. Wu Building, 302‑308 Hennessy Road,
Wanchai, Hong Kong. |
0142334 |
The subject was incorporated on 28th March, 1995 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: Importer, Wholesaler
and Re-exporter.
Lines: Colour TVs, Monitors, Fax
Machines, Telephones, Refrigerators, Hi‑Fi Systems, Washing Machines,
Cellular Phones
Brand Name: KONKA.
Company Employees: 35. (Hong Kong)
Group Employees: About 10,000.
Materials/Commodities: Imports
spare parts and raw materials from Japan.
Markets: Worldwide
countries.
Company Turnover: RMB2,315,453,138.85
Yuan (Year ended 31-12-2011)
RMB2,722,190,273.75 Yuan (Year
ended 31-12-2012)
RMB2,650,276,237.06 Yuan (Year ended
31-12-2013)
Group Turnover: RMB13,259,033,591.95
Yuan (Year ended 31-12-2009)
RMB17,111,454,066.34 Yuan (Year
ended 31-12-2010)
RMB16,217,619,883.23 Yuan (Year
ended 31-12-2011)
RMB18,337,861,657.29 Yuan (Year
ended 31-12-2012)
RMB20,006,736,878.82 Yuan (Year
ended 31-12-2013)
Terms/Sales: L/C, T/T
Terms/Buying: L/C, T/T and D/P
Issued Capital: HK$500,000.00
Company Total Assets:-
RMB1,532,682,080.40 Yuan (Year
ended 31-12-2012)
RMB1,755,430,184.36 Yuan (Year
ended 31-12-2013)
Company Net Assets:-
RMB 95,238,229.25 Yuan (Year ended 31-12-2012)
RMB111,655,271.79 Yuan (Year
ended 31-12-2013)
Company Net Profit/(Loss):-
RMB16,852,619.32 Yuan (Year ended
31-12-2011)
(RMB 6,140,663.21 Yuan) (Year
ended 31-12-2012)
RMB18,121,058.99 Yuan (Year ended
31-12-2013)
Group Net Profit: RMB151,670,735.64
Yuan (Year ended 31-12-2009)
RMB 83,947,861.32 Yuan (Year ended 31-12-2010)
RMB 24,972,838.12 Yuan (Year ended 31-12-2011)
RMB 45,829,234.02 Yuan (Year ended 31-12-2012)
RMB 45,163,004.10 Yuan (Year ended 31-12-2013)
Profit & Loss: Group
business is profitable but the subject made a loss in 2012 and made profits
again in 2013.
Condition: Keeping in an active
manner.
Facilities: Actively using
general banking facilities.
Payment: Met trade commitments on
time.
Commercial Morality: Good.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
The Bank of East Asia Ltd., Hong Kong.
Standing: Good.
Hong Kong Konka Ltd. is a subsidiary of Konka Group Co. Ltd. [Konka]
which is a significant Shenzhen-based enterprise. Konka has been listed on the Shenzhen Stock
Exchange.
The subject is responsible for marketing and re-exporting Konka Group’s
products. It also acquires raw materials
for the Group.
Established in 1980, Konka is China’ s first Sino-foreign joint consumer
electronics enterprise, manufacturing and distributing its own brand of prime
quality products. The Konka Group’s
major product lines are Colour TV sets and mobile phones. Refrigerators, washing machines, air
conditioners, component, and packaging material also form part of the Group’s
product lines.
In August 1991, Konka was restructured into a Sino-foreign public
share-hold company and on 27th March, 1992, its A-share and B-share were listed
on the Shenzhen Stock Exchange.
It has got seven major manufacturing plants in the North-East,
North-West, South, East and South-West of China, and has established production
bases in Indonesia, Mexico and Slovakia.
Almost half a million TVs roll off the Group’s production lines every
year, with enough room for up to 6 million units.
Konka was the first China TV producer to obtain both the international
and domestic ISO 9001 and ISO 14001 in 1997.
At present, the “Konka” brand is enjoying growing acknowledgement
abroad.
In January 2000, at the Las Vegas International Consumer Electronic
Fair, Konka won the award for Innovation.
With three world-class R&D centres in China and one in the United States,
Konka has developed a series of new generation electronics and
telecommunications products with high market adaptability and competitiveness,
including large‑screen colour TV, combo TV, digital TV, LCDTV, plasma
screen, HD CRT TV, ultrathin LED TV, 3D TV, smart 3D TV
Konka is one of four members of the China National High-Definition
Digital TV Standardization Specialist Committee, and is also a member of the
American Digital TV Alliance.
Specialized in colour TV sets since 1980, Konka now sells its products
to over 95 markets outside China, mainly the United States, Canada, Japan and
Australia.
Konka has set up a Multimedia Product Development Centre and employs
more than 350 engineers and works closely with industry leaders such as Sanyo,
Toshiba and STMicroelectronics.
Ever since its establishment in 1979, the Konka has been the second
largest TV manufacturer in China.
The Group is expanding its production base to the outskirts of the
Shenzhen Special Economic Zone, so as to implement economy of scale and
strengthen its production capability.
This has come in the form of the Konka Electronic City [KEC] in Dongguan
City, Guangdong Province, China. Its
Phase I factory covers a site area of 220,000 sq.m. It produces parts and accessories for the
Group. KEC is a major export-oriented
production base of the Group.
Today, Konka is one of the 500 largest industrial enterprises in China,
as well as the first company in the country’s colour TV sector to obtain both national
and international Quality Management System Certificates of ISO 9001 standard
and the ISO 14000 certificate for environmental protection. Besides the ISO 9001 certification,
Konka’s products are in conformity of the UL and CSA standards.
In 2009, China’s largest module manufacture base - Konka Kunshan LCM
factory was put into operation, which has reached 10,000 sets daily output and
1 million sets annual output by now.
In the same year, Konka became one of the largest shareholders of a
giant LED manufacture enterprise - Refond Optoelectronics, which helps the
company complete the LCD TV industrial chain and reducing the cost in
manufacturing, logistics and CBU units.
By far, the annual gross production capacity in terms of TV and
refrigerator of Konka Group has reached 25 million sets.
In 2010, Konka had established strategic alliance with one of the world
top brand and been providing premium ODM products to millions of customers.
The principal operating income of the Group in 2013 was RMB20,006.7 million
Yuan (2012: RMB18,337.9 million Yuan), increased by 9.1% as compared with
previous year. Net profit was RMB45.2
million Yuan (2012: RMB45.8 million Yuan), decreased by 1.3%.
In 2011, the Group’s net profit dropped substantially and this has made
the Group to penetrate other foreign markets such as Indonesia, Brazil, Panama
and other South America countries.
On the other hand, the Group keeps on the development of intelligent
TVs, terminal and intelligent mobile phones,
For the year ended 31st December, 2013, the turnover of the subject
amounted to RMB2,650.3 million Yuan (2012: RMB2,722.2 million Yuan), net profit
was RMB18.1 million Yuan (2012: net loss was RMB6.1 million Yuan). The turnover of the subject dropped by 2.6%
but it made a profit of RMB18.1 million Yuan in the FY 2013 as it took measures
to cut down its expenses and overhead charges effectively.
The subject has about 35 employees in Hong Kong.
In 2013, the Group issued a declaration that it is fully liable for the
debts of the subject.
The history of the subject in Hong Kong is over 19 years.
On the whole, as the subject is fully supported by Konka Group and made
a profit in 2013, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.77 |
|
|
1 |
Rs.100.72 |
|
Euro |
1 |
Rs.80.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.