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Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
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Name : |
FEIXUN TECHNOLOGY (HONGKONG) CO. LTD. |
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Registered Office : |
Suite 1205-1206, 12/F., ICBC Tower, Citibank Plaza, 3 Garden Road,
Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
26.03.2012 |
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Com. Reg. No.: |
59556694 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of smartphones |
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No of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Business is under development |
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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, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
FEIXUN TECHNOLOGY
(HONGKONG) CO. LTD.
ADDRESS: Suite 1205-1206, 12/F., ICBC
Tower, Citibank Plaza, 3 Garden Road, Central, Hong Kong.
PHONE: 852-2117 3925, 2117
3879
FAX: 852-2117 3879
Managing Director: Mr. Gu Guoping
Incorporated on: 26th March,
2012.
Organization: Private Limited
Company.
Capital: Nominal: US$1,000,000.00
Issued:
US$1,000,000.00
Business Category: Mobile Phone Trader.
Employees: 8.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong.
Banking Relation: Satisfactory.
FEIXUN TECHNOLOGY
(HONGKONG) CO. LTD.
Registered Head Office:-
Suite 1205-1206, 12/F., ICBC Tower, Citibank Plaza, 3 Garden Road,
Central, Hong Kong.
Shanghai Feixun Communication Co. Ltd.
No. 90, No. 20, Lane 4855, Guangfulin Road, Songjiang District,
Shanghai, China.
[Tel: 86-21-6775 4400; Fax:
86-21-6775 4018]
Phicomm Europe GmbH, Germany.
Phicomm Technology (Asia Pacific) Pte Ltd., Singapore.
59556694
1720203
Managing Director: Mr. Gu Guoping
Nominal Share Capital: US$1,000,000.00 (Divided into 1,000,000 shares of
US$1.00 each)
Issued Share Capital: US$1,000,000.00
(As per registry dated 26-03-2013)
|
Name |
|
No. of shares |
Shanghai Feixun
Communication Co. Ltd.
No. 90, No. 20, Lane
4855, Guangfulin Road, Songjiang District, Shanghai, China.
|
|
1,000,000 ======= |
(As per registry dated 05-08-2013)
|
Name (Nationality) |
Address |
|
HUA Jiarong |
Room 405, No. 666 Zhi Jiang Zhong Road, Zha Bei District, Shanghai,
China. |
|
GU Guoping |
No. 2069, Lane 1888, Linyin Xin Road, Songjiang District, Shanghai,
China. |
(As per registry dated 26-03-2013)
|
Name |
Address |
Co. No. |
|
S. S. Lau Secretarial Services Ltd. |
Unit A, 13/F., Empire Land Commercial Centre, 81‑85 Lockhart
Road, Wanchai, Hong Kong. |
0623216 |
The subject was incorporated on 26th March, 2012 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 and Exporter.
Lines: All kinds of
smartphones, etc.
Employees: 8.
Commodities Imported: China.
Markets:
China, other Asian countries, Europe, Middle East, North America, etc.
Terms/Sales: As
per contracted.
Terms/Buying:
Various terms.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of US$1.00 each)
Issued Share Capital: HK$1,000,000.00
Profit or Loss: Keeping a balance account in 2013.
Condition: Business is under development.
Facilities: Trying to make use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Fairly Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 1 million ordinary shares of US$1.00 each, Feixun Technology (Hongkong) Ltd. is wholly owned by Shanghai Feixun Communication Co. Ltd. [Shanghai Feixun] which is a China-based company. Your given phone number 86-21-6775 4400 is a China line belong to Shanghai Feixun.
The subject is a mobile phone trader. It has registered with the Communications Authority (CA), 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 RU00159067 - RU.
“PHICOMM” is a new brand logo created by Shanghai Feixun which is a high-tech enterprise dedicated to R&D and manufacture of networking and communication equipment. Shanghai Feixun, established in 2008, has already been proved to be a new-star supplier in networking and communication equipment industry.
Based on China market with business extending world widely, the growth rate of Shanghai Feixun is remarkable. So far, it has several thousands of partners from various levels, including solid customer foundation in distribution, government, operators, education, etc. Headquartered in Shanghai, Shanghai Feixun has set up more than 20 branches in China. Moreover, several R&D bases have been built in Shanghai, Shenzhen SEZ, Chengdu and Wuhan.
At present, Shanghai Feixun owns more than 4,000 employees. Of the employees, Shanghai Feixun has 793 experienced R&D engineers. It also develops its own software and hardware.
Shanghai Feixun manufactures its products at 34,000 sq.m. factory located in Shanghai. The factory is organized with optimised production procedures for networking and communication products.
According to Shanghai Feixun, its sales turnover in 2012 amounted to RMB3 billion Yuan. Business is profitable. It considers it still have room to expand its business.
The history of the subject in Hong Kong is just over a year and ten months.
On the whole, since the history of the subject is short, consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.03 |
|
|
1 |
Rs. 98.91 |
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Euro |
1 |
Rs. 80.34 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
-- |
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.