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Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
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Name : |
GAOXINQI ELECTRONICS (HONG KONG) LTD. |
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Registered Office : |
Room 1704A, 17/F., Sunbeam Commercial Building, 469-471 Nathan Road,
Yaumatei, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.07.1999 |
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Com. Reg. No.: |
30408563 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF MOBILE PHONES. |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hong Kong |
A1 |
A1 |
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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 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 |
GAOXINQI ELECTRONICS (HONG KONG) LTD.
ADDRESS: Room 1704A, 17/F.,
Sunbeam Commercial Building, 469-471 Nathan Road, Yaumatei, Kowloon, Hong Kong.
PHONE: 852-2850 7683
FAX: 852-2850 7662
E-MAIL: sales@gaoxinqi.biz.com.hk
Managing Director: Mr. Xu
Ruiqiang
Incorporated on: 7th July, 1999.
Organization: Private Limited
Company.
Issued Share Capital: HK$2.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
GAOXINQI ELECTRONICS (HONG
KONG) LTD.
Registered Head Office:-
Room 1704A, 17/F., Sunbeam Commercial Building, 469-471 Nathan Road,
Yaumatei, Kowloon, Hong Kong.
Associated
Companies:-
Gaoxinqi (Hong Kong) Ltd., Hong Kong.
Kerui Electronics (Huizhou) Co. Ltd., China.
Shenzhen Gaoxinqi Investment Co. Ltd., China.
Shenzhen Gaoxinqi Strategic Emerging Industrial Park Management Co.
Ltd., China.
Shenzhen Gaoxinqi Technology Co. Ltd., China.
30408563
0681229
Managing Director: Mr. Xu
Ruiqiang
HK$2.00
(As per registry dated 07-07-2014)
|
Name |
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No. of shares |
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XU Ruiqiang |
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1 |
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XU Xiao Dong |
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1 |
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– |
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Total: |
2 = |
(As per registry dated 07-07-2014)
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Name (Nationality) |
Address |
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XU Xiao Dong |
501 Fang, 7 Tung, Nan Chu, Chun Tse Chuang, Shan Tou Shi, Guangdong
Province, China. |
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XU Ruiqiang |
4/F., Block 2, Anhua Industry Area, District 35, Baoan, Shenzhen,
China. |
(As per registry dated 07-07-2014)
|
Name |
Address |
Co. No. |
|
Sincere Secretaries & Nominees Ltd. |
Suite 1019, 10/F., Chinachem Golden Plaza, 77 Mody Road, Tsimshatsui
East, Kowloon, Hong Kong. |
0460211 |
The subject was incorporated on 7th July, 1999 as a private limited
liability company under the Hong Kong Companies Ordinance.
Last time, the subject was located at Flat D, 15/F., Eton Building, 288
Des Voeux Road, Hong Kong, moved to the present address in November 2007.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All kinds of
mobile phones
Brand Name: Gaoxinqi.
Employees: 4.
Commodities Imported: China
Markets: China, Japan,
India, other Asian countries, Europe, North America
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P
Issued Share Capital: HK$2.00
Profit or Loss: Making a small
profit every year.
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: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Having issued just 2 ordinary shares of HK$1.00 each, Gaoxinqi Electronics
(Hong Kong) Ltd. is equally owned by Xu Ruiqiang and Xu Xiao Dong, both of whom
are China merchants. They are also
directors of the subject.
The subject is a mobile phone trader.
It is a key member of the Shenzhen Gaoxinqi Group of companies.
The subject has registered with the Office of the Communications
Authority (OFCA), The Government of Hong Kong SAR, the People’s Republic of
China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of
RU00123769-RU.
The subject has a main associated company in Shenzhen Special Economic
Zone, China known as Shenzhen Gaoxinqi Technology Co. Ltd. [SGT] which is
engaged in manufacturing mobile phones.
SGT is manufacturing the following products: 3G phones, GSM phones, CDMA
phones, Qwerty phones, Dual-SIM phones, TV mobile phones, Flip mobile phones,
Slip mobile phones, Touch screen phones, Table computers Phones, GSM multimedia
mobile phones, PABX with GSM/CDMA access, Cordless phones / Combos, Answer
machine boxes and phone, SMS phones /boxes, CID/call waiting phones, Multi
function phones.
Most of the products bear the brand name Gaoxinqi.
SGT is devoted to the R&D, production, marketing and service of
digital and telecommunications terminals.
Based in a 170,000 square meters industrial park, the company has
Moulding Department, Injection Department, Silk printing and spraying
Department, Insertion workshop, Bounding workshop, Hot depressing workshop and
HF/LF Assembly workshop. With over 60
modern integrated production lines as well as automatic SMT production lines,
its annual production capacity is more than 9 million telecommunications
terminals, plus 920k mobile handsets.
SGT has been conferred the titles of Shenzhen Top 50 Private Enterprises
and Shenzhen Top 10 Telecom Industry Enterprises. Besides, the company was elected “Honouring
Contract and High Credibility” Enterprise and Shenzhen’s Most Influential
Enterprise by Shenzhen Trade and Industry Authority, and joined Shenzhen Honest
Enterprise Alliance in 2004.
Founded in 1997, SGT is manufacturing 9 series of products range from
phone set, Caller ID phone, fixed SMS phone, telephone recorder, DECT Digital
Cordless Telephone, Walkie-talkie, fax, GSM handset, and GSM/CDMA wireless
local loop, among which over 150 products are well-known worldwide.
Since 2000, SGT has provided its products to over 80 countries and
regions of the world such as the United States, Russia, France, Japan, Iran,
Egypt, Turkey, Pakistan, India, South Korea, Hong Kong and Taiwan.
Another plant is in Huizhou Industrial Park.
SGT now has over 8,000 employees.
SGT has set up sales channels all over China. It also has set up R&D centres in
Shenzhen Special Economic Zone and Shanghai, China.
According to SGT, it has had over 100 million end-users all over the
world.
The annual sales of SGT is very significant.
The subject is fully supported by the Group. History in Hong Kong is over 15 years and
four months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.93 |
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|
1 |
Rs.97.39 |
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Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.