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Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
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Name : |
VSUN COMMUNICATION TECHNOLOGY LTD. |
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Registered Office : |
c/o Hong Kong Upright Accounting Ltd. Room A, 5/F., Unionway Commercial Centre, 283 Queen’s Road Central,
Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.05.2011 |
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Com. Reg. No.: |
58359011 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Manufacturer of all kinds of mobile phones and
related accessories, spare parts |
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No. of Employees : |
No employees in Hong Kong It is to be noted that
the company does not have its own operating office in Hong Kong. The company
uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong
Kong. Such companies are registered in Hong Kong just to tax benefit purpose
and due to the strict privacy laws prevailing in the country. In such cases,
the companies are not required to have any employees in Hong Kong nor do have
an office there. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 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 |
VSUN COMMUNICATION
TECHNOLOGY LTD.
ADDRESS: c/o Hong Kong Upright
Accounting Ltd.
Room A, 5/F., Unionway Commercial Centre, 283
Queen’s Road Central, Sheung Wan, Hong Kong.
PHONE: 852-2850 6565
FAX: 852-2851 0669
Managing Director: Mr. Zhang
Xueying
Incorporated on: 16th May, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer,
Exporter and Manufacturer.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
VSUN COMMUNICATION
TECHNOLOGY LTD.
Registered
Office:-
c/o Hong Kong Upright Accounting Ltd.
Room A, 5/F., Unionway Commercial Centre, 283 Queen’s Road Central,
Sheung Wan, Hong Kong.
Associated
Companies:-
Shenzhen Vsun Communication Technology Co. Ltd.
Rooms 1901/1903, Block A, Xiangnian Square, South Area,
6060 Qiaoxiang Road, Nanshan District, Shenzhen City, China.
[Tel: 86-755-6169 5888; Fax:
86-755-6153 6970]
Shenzhen Siu Pin E-Commerce Co. Ltd., China.
Shenzhen Vsun Software Design Co. Ltd., China.
Shenzhen Zhang Li Information Technology Co. Ltd., China.
58359011
1601057
Managing Director: Mr. Zhang
Xueying
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 16-05-2013)
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Name |
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No. of shares |
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ZHANG Xueying |
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5,000 |
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ZHONG Limin |
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5,000 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 16-05-2013)
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Name (Nationality) |
Address |
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ZHANG Xueying |
Room 1901, Block A, Xiangnian Square, South Area, 6060 Qiaoxiang
Road, Nanshan District, Shenzhen City, China. |
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ZHONG Limin |
Room 1901, Block A, Xiangnian Square, South Area, 6060 Qiaoxiang
Road, Nanshan District, Shenzhen City, China. |
(As per registry dated 16-05-2013)
|
Name |
Address |
Co. No. |
|
Hong Kong Upright Accounting Ltd. |
Room A, 5/F., Unionway Commercial Centre, 283 Queen’s Road Central,
Sheung Wan, Hong Kong. |
1324556 |
The subject was incorporated on 16th May, 2011 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,
Exporter and Manufacturer.
Lines: All
kinds of mobile phones and related accessories, spare parts
Trade Mark: “Vsun”.
Employees: Nil.
Commodities Imported: China
(main), other Asian countries
Markets: China,
Japan, India, other Asian countries
Terms/Sales: L/C, T/T.
Terms/Buying: L/C, T/T
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Keeping
a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Vsun Communication Technology Ltd. [VCTL] was formed in Hong Kong on 16th
May, 2011. With a nominal and issued
share capital of HK$10,000.00, the company is equally owned by two PRC
merchants know as Ms. Zhang Xueying and Mr. Zhong Limin.
VCTL has no direct office in Hong Kong.
Its registered office is located at Room A, 5/F., Unionway Commercial
Centre, 283 Queen’s Road Central, Sheung Wan, Hong Kong. This is the operating office of a business
consultant firm known as Hong Kong Upright Accounting Ltd. The consultant company is providing VCTL with
company secretarial and correspondence services. VCTL has also no employees in Hong Kong.
The shareholders Ms. Zhang Xueying and Mr. Zhong Limin are also the
Directors of VCTL. Currently both are
residing in Shenzhen Special Economic Zone, China.
The two shareholders are also the CEOs of Shenzhen Vsun Communication
Technology Ltd. [SZVCTL] which is a Shenzhen-based firm.
The details of SZVCTL are as follow:-
Name: SZVCTL
Address: Room 1901/1903,
Block A, Xiangnian Square, South Area, 6060 Qiaoxiang Road, Nanshan
District, Shenzhen Special Economic Zone, China.
Phone Number: 86-755-6169 5888
Fax Number: 86-755-6153 6970
Nature of Business: Manufacture
and Sale of Mobile Phones.
The correspondence address of the directors are the same address as
SZVCTL. Your given phone number belongs
to SZVCTL.
With a registered capital of RMB30 million Yuan, SZVCTL was established
in Shenzhen in May 2011. It is a private
high-tech enterprise engaged in the design, research and development,
manufacture and sale of mobile phones and related accessories and parts. With operation center in Shenzhen SEZ and
manufacturing base in Huizhou City, SZVCTL directly or indirectly employs over
600 people in China. Since its establishment,
it has become an ODM supplier serving customers worldwide. It has also extended its business into
Wireless Terminal Internet Service and international distribution with its own
brand “Vsun”. Its “Vsun”
mobile phones with features innovation, quality and cost effectiveness are well
received in the market. Models developed
includes N616, N618, N628B, N628C, N638B, N629, N928B, N958B, N968B, etc.
Currently SZVCTL’s products have been marketed in China since March
2012. Its other prime markets are Japan,
India, the other Asian countries, South America
In recent years, SZVCTL has been cooperating with M-Star to develop a
kind of new model mobile phone Vsun V88.
Besides, the subject also has been cooperating with MediaTek Inc., a
Taiwan-bases company, to develop a new generation of smart-phone known as Vsun
i1. MediaTek has developed a kind
of new chip known as MT6577 which is a kind of platform for high-end
smart-phones.
In the years ahead, SZVCTL considers its international market share in
the field of mobile phone will further increases.
Besides, SZVCTL has had associated companies engaged in the development
of software, information technology, e-commerce, etc.
VCTL 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. It
bears the licence No. of RU00146779-RU.
Nominally VCTL is a supporting office for SZVCTL. It is using the Hong Kong registered address
for international correspondences.
VCTL’s business in Hong Kong is not active. History in Hong Kong is just over two years.
On the whole, consider it good for normal business engagements on L/C
basis for the time being.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.67 |
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Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
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.