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MIRA INFORM REPORT
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Report No. : |
482704 |
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Report Date : |
02.01.2018 |
IDENTIFICATION DETAILS
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Name : |
HYSNTI DIAMOND COMPANY LIMITED |
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Registered Office : |
Flat 14, 9/F., Beverley Commercial Centre, 87-105 Chatham Road South,
Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
11.06.2009 |
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Com. Reg. No.: |
50786313 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of all kinds of Diamonds, Jewellery Products. |
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No. of Employees : |
3. (Including
Associates) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Hongkong |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 reexports, 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 continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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 aided a more rapid initial recovery 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 9.4% of total system deposits in Hong Kong by the end of 2015. 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. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% 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. 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 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.
Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 4.4% in 2014, but slowed to 2.9% in 2015. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities.
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Source
: CIA |
Company
name and address
HYSNTI
DIAMOND COMPANY LIMITED
ADDRESS: Flat 14, 9/F., Beverley
Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
MANAGEMENT
Managing Director:
Mr. Chang Yaoqing
SUMMARY
Incorporated on: 11th June, 2009.
Organization: Private Limited Company.
Issued Share Capital: HK$1.00
Business Category: Diamond
& Jewellery Product Trader.
Employees: 3. (Including associates)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Flat 14, 9/F., Beverley Commercial Centre, 87-105 Chatham
Road South, Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
Beijing Hysnti Asia Economic & Trading Co. Ltd.,
China.
King Silver Ltd., Hong Kong. (Same address)
Shenzhen Baibaolang Jewellery Co. Ltd., China.
Shanghai Baibaolang Diamond Co. Ltd., China.
[Tel: 86-21-5015 8286;
Email: sh_baibaolang888@msn.cn]
BUSINESS
REGISTRATION NUMBER
50786313
COMPANY
FILE NUMBER
1344890
MANAGEMENT
Managing Director:
Mr. Chang Yaoqing
ISSUED
SHARE CAPITAL
HK$1.00
SHAREHOLDER
(As per registry dated 11-06-2017)
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Name |
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No. of share |
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CHANG Yaoqing |
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1 = |
DIRECTOR
(As per registry dated 11-06-2017)
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Name (Nationality) |
Address |
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CHANG Yaoqing |
Room C-3002, Block 15, Mangrove Bay CITIC, Shenzhen
Nanshan Baishi 2 Road, Shenzhen, China. |
SECRETARY
(As per registry dated 11-06-2017)
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Name |
Address |
Co. No. |
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Able Consultants Ltd. |
Room 906, 9/F., Tai Tung Building, 8 Fleming Road,
Wanchai, Hong Kong. |
0685957 |
HISTORY
The subject was
incorporated on 11th June, 2009 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the registered
address of the subject was located at ‘c/o King Silver Ltd., Flat B, 8/F.,
Merchantile House, 186-188 Nathan Road, Tsimshatsui, Kowloon, Hong Kong’, moved
to the present address in August 2015.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer
and Exporter.
Lines: All
kinds of diamonds, jewellery products.
Employees: 3. (Including associates)
Commodities Imported: China,
etc.
Markets: China,
Japan, other Asian countries, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$1.00
Profit or Loss: Made
small profits in past years.
Condition: Business
is normal.
Facilities: Making
rather active use of general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Bankers:-
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Bank of China
(Hong Kong) Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued just
one ordinary share of HK$1.00, Hysnti Diamond Company Limited is wholly owned
by Mr. Chang Yaoqing who is a China merchant.
He is a China passport holder and does not have the right to reside in
Hong Kong permanently. He is also the
only director of the subject.
The subject has had
an associated company known as King Silver Ltd. [King Silver] which is
also located at the same address. King
Silver is also a jewellery trader.
Besides operating the
subject, Mr. Chang Yaoqing is also operating the following three firms in
China:-
· Beijing Hysnti Asia Economic & Trading Co. Ltd. [Beijing Hysnti];
· Shenzhen Baibaolang Jewellery Co. Ltd. [Shenzhen Baibaolang]; &
· Shanghai Baibaolang Diamond Co. Ltd. [Shanghai Baibaolang].
These firms are also
jewellery product traders. Shenzhen
Baibaolang and Shanghai Baibaolang are engaged in diamonds wholesaling,
jewellery designing and manufacturing.
The subject and the above-mentioned three companies form the Baibaolang
Group. The Group owns its brand name ID
STUDIO. ID STUDIO is the brand name
of the Group’s jewellery products.
The brief information
of Shenzhen Baibaolang is as follow:
Name:
Shenzhen Baibaolang
Address: West Side, 2/F., Block 11, Shuibei Industrial
Zone, Veiping Jewelry Building, No.2209 Cuizhu Road, Luohu District, Shenzhen
SEZ, China.
Date of
Incorporation: 29th April, 2007.
Legal Status: Limited Liability
Company (owned by natural person)
Registered
Capital: RMB10 million Yuan.
United
Social Credit Code: 91440300661048159L
Legal
Representative: Mr. Chang Yaoqing
In order to penetrate
the international market further, the subject has taken part in fairs and
exhibitions held in Hong Kong and other foreign large cities. For instance, Shanghai Beibaolang always
takes part in Shanghai International Jewellery Products Exhibition which is
held in Shanghai annually.
The followings are
the main products of the subject:-
· Diamond Engagement Ring;
· Diamond Tiara;
· Ladies’ Diamond Necklace; &
· Ladies’ Diamond Ring.
The subject also
trades in Panapana jewellery products.
All the Panapana jewellery products are Italian style which are
manufactured in Shenzhen Special Economic Zone, China. The factory is located at Deli Shuibei
Industrial Area, Shuibei Second Road, Luohu District, Shenzhen Special Economic
Zone, China. Baibaolang is also trading
in the Panapana jewellery products. Jewellery
products are exported to Japan, other Asian countries, the other Asian countries,
Europe, North America, etc. Business is
normal.
The contact person of
the subject in Hong Kong is Ms. Angie Qi.
In China, the
businesses of Baibaolang and Beijing Hysnti are operated by Mr. Chang Yaoqing.
As the history of the
subject is over eight years and six months in Hong Kong, on the whole, consider
it 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 |
INR 63.67 |
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1 |
INR 85.90 |
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Euro |
1 |
INR 76.41 |
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HKD |
1 |
INR 8.16 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.