MIRA INFORM REPORT

Report No. :	334510
Report Date :	05.08.2015

IDENTIFICATION DETAILS

Name :	JINNOVA ELECTRONICS (HONGKONG) LIMITED

Registered Office :	Room 603, 6/F, Hang Pont Commercial Building, 31 Tonkin Street, Cheung Sha Wan, Kowloon

Country :	Hongkong

Date of Incorporation :	03.06.2013

Com. Reg. No.:	61535359

Legal Form :	Private Limited Liability Company

LINE OF BUSINESS :	NOT AVAILABLE

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Undetermined

Payment Behaviour :	Unknown

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 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Hongkong

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

HONGKONG - 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 12.5% of total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.

Source : CIA

Contact Points

Company Name (in English):	Jinnova Electronics Hongkong Limited
Supplied Name:	Jinnova Electronics Hongkong Limited
Supplied Address:	Room 603, 6/F, Hang Pont Commercial Building, 31 Tonkin Street, Cheung Sha Wan, Kowloon, Hongkong

Special Note

We cannot obtain any operation or contact information of the subject from public files according to the supplied name.

As the supplied address, which is also subject’s registered address, is that of subject’s corporate secretary (Hong Kong Kamkiu Registration Limited), we cannot obtain any information of the subject according to it.

We tried to contact subject with the supplied telephone number (+852-2485-3215) several times, but there is no one answering. With the supplied telephone number (+852-2485-3215), we found an address (Unit 1205, 12/Fl., Sino Plaza, 255 Gloucester Road, Causeway Bay, Hong Kong) from public files. We arranged the visit for the above address, and we found there is no subject but another company named Capgemini Hong Kong Limited on it. The relevant staffs of the above company said they don’t know subject at all.

With the supplied name, we found a similar company named Shenzhen Jinnova Electronics Limited (Literal Translation) from public files. We tried to contact subject through the number (+86-0755-2811-7254) found from public files, a lady answered the phone said she knew subject, but she declined to disclose any information about it.

The detail information of Shenzhen Jinnova Electronics Limited (Literal Translation) as follows:

Name	Shenzhen Jinnova Electronics Limited (Literal Translation)
Address	Block B, 4/F, Building 2, Zhenyingtai Industrial Park, Hebei Industrial Zone, Hualian Community, Longhua Street, New Longhua Dist., Shenzhen City, China
Registered Number	440306106050441
Representatives	Baoying Liu
Registered Capital	CNY 100,000
Date of Foundation	2012-03-08
Principle Activities	Manufacturing and sales of Bluetooth speaker, etc.

Up to the date of reporting, we failed to get in touch with subject. If you can supply further information such as current telephone number, we’d like to have the investigation resumed.

We found subject’s registration information as follows for reference.

Company Identification Details

Registered Name:	Jinnova Electronics (HongKong) Limited
Registered Address:	Room 603, 6/F, Hang Pont Commercial Building, 31 Tonkin Street, Cheung Sha Wan, Kowloon, Hong Kong
Date of Registration:	2013-06-03
Registered Number:	1917290
Business Registration No.:	61535359
Paid-up Capital:	HKD 1,000,000 (USD 129,000) = 1,000,000 Shares@ HKD 1 (As of 2015.8, 1 HKD = 0.129 USD)
Legal Form:	Private Limited Liability Company
Principal Activities:	N/A
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	2015-06-03

Notes: Since we were not able to locate the company physically, the principal activities and staff number are not available from any sources.

History

Subject was incorporated on 2013-06-03 with the registered number 1917290 as Private Limited Liability Company in Hong Kong.

Corporate Structure

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Shareholder

Name	Subscription Shares	Proportion of Investment (%)
Liu Baoying	1,000,000	100%
Total	1,000,000	100%

Major Shareholder Information:

Name:	Liu Baoying
Address:	Dai Guan Hu, No.68, Long Jing 2 Rd., Baoan District, Shenzhen City, Guangdong Province, China

Management Information

Core Management

Detailed Information of Director:

1
Name:	Liu Baoying
Address:	Dai Guan Hu, No.68, Long Jing 2 Rd., Baoan District, Shenzhen City, Guangdong Province, China
Position:	Director
ID Number:	362132197912060025
2
Name:	Hong Kong Kamkiu Registration Limited
Address:	Room 603, 6/F, Hang Pont Commercial Building, 31 Tonkin Street, Cheung Sha Wan, Kowloon, Hong Kong
Position:	Company Secretary
Registration Number:	1250522

Operation Information

Offices & Factories

We cannot confirm subject current trading address at this stage.

Operation Information

From public files, we cannot obtain any operation information of the subject. Since we did not get in touch with the subject, the information is not available from any other source.

Financial Information

The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.

Since we didn’t contact subject successfully, the financial information is not available from any sources.

Bankers

Since we didn’t contact subject successfully, the bank information is not available from any sources.

Public

Mortgage Record

No mortgage record of the subject was found

Lawsuits

Up to now, no present or latent litigation of the subject has been found.

High Court Action:	Clear
High Court Baukufty Bankruptcy Proceedings:	Clear
High Court Commercial Action:	Clear
High Court Construction & Arbitration Proceedings:	Clear
High Court Companies Winding-Up:	Clear

Attachment

We found there is no subject but another company named Capgemini Hong Kong Limited on the following address. The relevant staffs of the above company said they don’t know subject at all.

Sino Plaza, 255 Gloucester Road, Causeway Bay, Hong Kong

12/Fl., Sino Plaza, 255 Gloucester Road, Causeway Bay, Hong Kong

Unit 1205, 12/Fl., Sino Plaza, 255 Gloucester Road, Causeway Bay, Hong Kong

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.93
UK Pound	1	Rs.99.82
Euro	1	Rs.70.05

INFORMATION DETAILS

Analysis Done by :	TRI

Report Prepared by :	NIT

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.