MIRA INFORM REPORT
|
Report No. : |
340218 |
|
Report Date : |
14.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAN YANG TEXTILE (HK) LIMITED |
|
|
|
|
Formerly Known As : |
SHANDONG SAN YANG TEXTILE (HK) LIMITED |
|
|
|
|
Registered Office : |
Suites 2812-13, Tower 2,Times Square, 1
Matheson Street, Causeway Bay, Hong Kong |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
07.11.2003 |
|
|
|
|
Com. Reg. No.: |
34060153 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of Textile. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 |
A1 |
A1 |
|
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): |
San Yang Textile (HK) Limited |
|
Supplied Name: |
SAN YANG TEXTILE HK LTD |
|
Trading Address: |
Suites 2812-13, Tower
2,Times Square, 1 Matheson Street, Causeway Bay, Hong Kong |
|
Supplied Address: |
SUITE 2812 TOWER TWO TIMES SQUARE 1 MATHESON STREET CAUSEWAY BAY |
Note: The exact name
and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Suites 2812-13,
Tower 2,Times Square, 1 Matheson Street, Causeway Bay, Hong Kong |
|
Telephone Number: |
+852- 2566
2292 |
|
Fax Number: |
+852- 2566 2116 |
|
E-mail: |
|
|
Date of Registration: |
2003-11-7 |
|
Registered Number: |
869885 |
|
Business Registration No.: |
34060153 |
|
Paid-up Capital: |
HKD 300,000 (USD 38,700) = 300,000 Shares@
HKD 1 (As of 2015.09, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
65734--Textile fabrics otherwise
impregnated, coated or covered; painted canvas being theatrical scenery,
studio back-cloths or the like (Kg) |
|
Principal Activities: |
Manufacturing and sales of textile and etc |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-11-7 |
Notes: Subject declined to disclose its staff number; from
other source we cannot obtain the relevant information, either.
History
Subject was incorporated on 2003-11-7 with the
registered number 869885 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
2004-10-8 |
San Yang Textile (HK) Limited |
|
|
|
|
2003-11-7 |
Shandong San Yang Textile (Hk) Limited |
|
|
Corporate Structure
Factory
|
Address: |
No.58 Yong Shen Road, Lijin county of
Shandong, China |
Major Related Companies
|
San Yang Textile (HK) Limited Shandong Sanyang Xinjian Cotton Industry
Company Shandong Sanyang Import and Export
Corporation Shandong Lihuayi Group Lijin County Power Supply Company Lijin Yamei Textile Co. Ltd. |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
San Yang Textile Co., Ltd |
291,000 |
97.00% |
|
Xu Yun Ting |
3,000 |
1.00% |
|
Wang Yong Chun |
3,000 |
1.00% |
|
Quan Wei Zhong |
3,000 |
1.00% |
|
Total |
300,000 |
100% |
Major Shareholder Information:
|
1 |
|
|
Name: |
San Yang Textile Co., Ltd |
|
Address: |
13/F Regent Centre 88 Queen’S Road Central
Hong Kong |
|
2 |
|
|
Name: |
Xu Yun Ting |
|
Address: |
13/F Regent Centre 88 Queen’S Road Central
Hong Kong |
|
3 |
|
|
Name: |
Wang Yong Chun |
|
Address: |
13/F Regent Centre 88 Queen’S Road Central
Hong Kong |
|
4 |
|
|
Name: |
Quan Wei Zhong |
|
Address: |
13/F Regent Centre 88 Queen’S Road Central
Hong Kong |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Zi San Fei |
|
Address: |
Rm. 2701, Section C Of Tsingtao Center, No.
8B Hong Kong Middle Road, Qingdao China |
|
Position: |
Director |
|
China ID Number: |
410103196606202431 |
|
2 |
|
|
Name: |
Cheung Sai Pan |
|
Address: |
Flat A, 21/F, Blk 23, Hsia Kung Mansion, 24,
Tai Koo Shing Road, Tai Koo Shing, Hong Kong |
|
Position: |
Corporate Secretary/Director |
|
ID Number: |
K045057(A) |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Suites 2812-13, Tower 2,Times Square, 1
Matheson Street, Causeway Bay, Hong Kong |
|
Area: |
|
Premises Information
According to subject’s current trading
address, we did not find any premises information from local land registry;
from other source we can not obtain any relevant information, either.
Production Information
The subject is mainly engaged in manufacturing
of textiles and etc.
It is introduced that subject has a factory in
Shangdong Province, the mainland of China for production. It is introduced that
subject’s related companies also has factories in the mainland of China for
production.
Purchase Information
Subject purchases its raw materials and etc
both at home and abroad.
It is introduced that subject purchases some
finished products from its related companies in the mainland of China.
It is introduced that subject imports its
machines from Germany, Switzerland, Italy, England, Belgium and Japan.
Sales Information
The subject is mainly engaged in sales of
textiles and etc.
Subject’s major products include 100% Cotton
Combed Single Yarn, 100% Cotton Combed Double Yarn (Two-For-One Twisting), 100%
Cotton Combed Compact Yarn, fabric and etc.
Subject’s selling territory includes Asia,
Europe, America and etc.
Subject’s major customers are manufacturers of
fabric, other textiles and etc.
Settlements
Purchase
Domestic Purchase
|
Products |
Raw materials and etc |
|
Payment Terms |
Cash, T/T and etc |
Import
|
Products |
Raw materials and etc |
|
Payment Terms |
L/C, T/T and etc |
Sales
Domestic Markets
|
Product |
Textiles and etc. |
|
Selling Terms |
Cash, T/T and etc |
Export
|
Product |
Textiles and etc. |
|
Selling Terms |
L/C, T/T and etc |
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.
Subject’s relevant staff Ms. Lv rejected to
disclose the financial information, from other sources we could not obtain such
information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
|
Company Name: |
San Yang Textile (HK) Limited |
|
Date of Creating Mortgage: |
2010-1-20 |
|
Name of Mortgagee: |
China Construction Bank Corporation Hong
Kong Branch |
|
Address of Mortgagee: |
44-45/F., Tower One, Lippo Centre 89 Queensway,
Admiralty Hong Kong |
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 |
Special Note
Interview Details
|
Department: |
Sales Department |
Industry Information
Unit: HKD/000
|
|
2015.6 |
2015.01~2015.6 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Japan |
232 |
137 |
871 |
329 |
|
Belgium |
448 |
48 |
2,198 |
208 |
|
Canada |
2,493 |
1,289 |
34,627 |
14,313 |
|
Germany |
418 |
39 |
793 |
97 |
|
England |
64 |
12 |
5,628 |
971 |
|
America |
27,605 |
5,442 |
133,626 |
23,357 |
|
Israel |
10,727 |
1,256 |
26,890 |
3,085 |
|
Taiwan |
4,287 |
390 |
7,959 |
683 |
|
Korea |
2,742 |
679 |
10,494 |
2,609 |
|
The Mainland of China |
36,239 |
3,328 |
222,589 |
15,653 |
|
Exports |
||||
|
The United Arab Emirates |
-- |
-- |
21 |
3 |
|
Australia |
230 |
75 |
554 |
|
|
Bangladesh |
|
|
1,783 |
246 |
|
Brazil |
1,440 |
295 |
1,458 |
296 |
|
Canada |
-- |
-- |
4,448 |
3,348 |
|
Germany |
-- |
-- |
3,461 |
225 |
|
England |
-- |
-- |
153 |
4 |
|
Indonesia |
2,339 |
405 |
7,555 |
1,041 |
|
India |
81 |
12 |
369 |
46 |
|
Italy |
96 |
102 |
96 |
102 |
|
Korea |
1,897 |
207 |
3,434 |
375 |
|
Republic of Moldova |
11 |
37 |
11 |
37 |
|
The Mainland of China |
22,338 |
2,358 |
183,897 |
27,477 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
|
2015.01 |
348,886 |
4,468 |
307,403 |
311,871 |
+2.8 |
-37,015 |
|
2015.02 |
264,220 |
2,919 |
225,418 |
228,337 |
+7.2 |
-35,884 |
|
2015.03 |
342,319 |
4,013 |
292,100 |
296,113 |
-1.8 |
-46,206 |
|
2015.04 |
331,108 |
4,202 |
287,742 |
291,944 |
+2.2 |
-39,164 |
|
2015.05 |
331,940 |
4,258 |
287,571 |
291,830 |
-4.6 |
-40,110 |
|
2015.06 |
345,302 |
4,158 |
295,361 |
299,518 |
-3.1 |
-45,783 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Suites 2812-13, Tower 2,Times Square, 1
Matheson Street, Causeway Bay, Hong Kong
%20LIMITED%20-%20340218%2014-Sep-2015_files/image016.jpg)
Suites 2812-13, Tower 2,Times Square, 1
Matheson Street, Causeway Bay, Hong Kong
%20LIMITED%20-%20340218%2014-Sep-2015_files/image017.jpg)
Suites 2812-13, Tower 2,Times Square, 1
Matheson Street, Causeway Bay, Hong Kong
%20LIMITED%20-%20340218%2014-Sep-2015_files/image018.jpg)
Suites 2812-13, Tower 2,Times Square, 1 Matheson
Street, Causeway Bay, Hong Kong
%20LIMITED%20-%20340218%2014-Sep-2015_files/image019.jpg)
Suites 2812-13, Tower 2,Times Square, 1
Matheson Street, Causeway Bay, Hong Kong
%20LIMITED%20-%20340218%2014-Sep-2015_files/image020.jpg)
Suites 2812-13, Tower 2,Times Square, 1
Matheson Street, Causeway Bay, Hong Kong
%20LIMITED%20-%20340218%2014-Sep-2015_files/image021.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.