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MIRA INFORM REPORT
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Report No. : |
488452 |
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Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
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Name : |
AMPEREX TECHNOLOGY LIMITED |
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Registered Office : |
Room 3503, 35/F., Wharf Cable TV Tower, 9 Hoi
Shing Road, Tsuen Wan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.06.1999 |
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Com. Reg. No.: |
30246844 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Manufacturer and Exporter of All kinds of Lithium-Ion
Polymer [LIP] Battery Cells And Batteries For Cell Phone, Pda, Notebook Pc,
Earphone, And Smart Card Applications. |
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No. of Employees : |
99,693 (Group Employees) (As at 31-03-2017) |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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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Hong Kong |
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 |
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 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, which took effect in 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 2.6% in 2016, but slowed to 2.0% in 2017. 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
AMPEREX TECHNOLOGY
LIMITED
ADDRESS: Room 3503, 35/F., Wharf Cable TV Tower, 9
Hoi Shing Road, Tsuen Wan, New Territories, Hong Kong.
PHONE: 852-2498 0908
FAX: 852-2498 1101
E-MAIL: marketing@atlbattery.com
MANAGEMENT:
Chairman:
Mr. Takehiro Kamigama
SUMMARY
Incorporated on: 11th
June, 1999.
Organization:
Private Limited
Company.
Issued Share Capital: US$220,170,014.00 & HK$2.00
Business Category: Lithium-Ion Polymer Battery Manufacturer.
Group Net Sales: ¥1,178,257
million (Year ended 31-03-2017)
Group Employees: 99,693. (As at 31-03-2017)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 3503, 35/F., Wharf Cable TV Tower, 9 Hoi
Shing Road, Tsuen Wan, New Territories, Hong Kong.
China Factories:-
Dongguan Amperex Technology Ltd.
No. 1, West Industrial Road, Song Shan Lake, Dongguan, Guangdong Province,
China.
Ningde Amperex Technology Ltd.
No. 1, Xingang Road, Zhangwan Town, Jiaocheng District, Ningde, Fujian, China.
Dongguan NVT Technology Co. Ltd.
No. 8, Xingguo Road, Jiaoshe Village, Dongkeng Town, Dongguan, Guangdong
Province, China.
Holding Company:-
TDK Corporation, Japan.
Affiliated Companies:-
TDK Group
of Companies
EPCOS (Zhuhai FTZ) Co. Ltd., China.
EPCOS (Zhuhai) Co. Ltd., China.
EPCOS AG, Germany.
EPCOS Electronic Parts Ltd., Hungary.
EPCOS Inc., U.S.A.
EPCOS India Private Ltd., India.
EPCOS Ltd., Hong Kong.
EPCOS OHG, Austria.
Headway Technologies Inc., U.S.A.
Hutchison Technology Incorporated, U.S.A.
Lambda Holdings Inc., U.S.A.
Magnecomp Precision Technology Public Co. Ltd., Thailand.
Navitasys Technology Ltd., Hong Kong.
RF360 Holdings Singapore Pte. Ltd., Singapore.
SAE Magnetics (Dongguan) Ltd., China.
SAE Magnetics (Hong Kong) Ltd., Hong Kong.
Semiconductor Energy Laboratory Co. Ltd., Japan.
TDK (Shanghai) International Trading Co.
Ltd., China.
TDK (Thailand) Co. Ltd., Thailand.
TDK China Co. Ltd., China.
TDK Corporation of America, U.S.A.
TDK Dalian Corporation, China.
TDK Europe GmbH, Germany.
TDK Europe S.A., Luxembourg.
TDK Germany GmbH, Germnay.
TDK Hongkong Co. Ltd., Hong Kong.
TDK Philippines Corporation, Philippines.
TDK Service Corporation, Japan.
TDK Shonai Corporation, Japan.
TDK Singapore (Pte) Ltd., Singapore.
TDK Taiwan Corporation, Taiwan.
TDK U.S.A. Corporation, U.S.A.
TDK Ugo Corporation, Japan.
TDK Xiamen Co. Ltd., China.
TDK-EPC Corporation of Canada, Canada.
TDK-EPC Corporation, Japan.
TDK-MCC Corporation, Japan.
TDK-Micronas GmbH, Germany.
TDK-Nitto (Shanghai) Electro-Energy Co. Ltd., China.
etc.
BUSINESS
REGISTRATION NUMBER
30246844
COMPANY
FILE NUMBER
0678594
MANAGEMENT
Chairman:
Mr. Takehiro Kamigama
ISSUED
SHARE CAPITAL
US$220,170,014.00 & HK$2.00
(2,775,135,400 fully paid ordinary shares in US Dollars and 2 fully paid
Non-voting Deferred shares in HK Dollars)
SHAREHOLDERS
(As per registry dated 11-06-2017)
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Name |
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No. of shares |
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Non-voting Deferred |
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TDK Corporation Shibaura Renasite Tower, 3-9-1 Shibaura,
Minato‑ku, Tokyo 108-0023, Japan. |
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1,133,388,360 |
2 |
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TDK Hongkong Co. Ltd., Hong Kong. |
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1,598,000,000 |
- |
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ACME Strategy Ltd. Offshore Incorporations (Cayman) Ltd. Floor 4, Willow House, Cricket Square, P.O.
Box 2804, Grand Cayman KY1-1112, Cayman Islands. |
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18,787,040 |
- |
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Valiancy Ltd. P.O. Box 957, Offshore Incorporations Centre,
Road Town, Tortola, British Virgin Islands. |
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24,960,000 |
- |
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–––––––––––– |
– |
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Total: |
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2,775,135,400 =========== |
2 = |
DIRECTORS
(As per registry dated 11-06-2017)
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Name (Nationality) |
Address |
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Seiji OSAKA |
360-62, Oba-cho, Aoba-ku, Yokohama-city,
Kanagawa-pref., 225-0023, Japan. |
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Takehiro KAMIGAMA |
9-1-2204 Osaki, 2-chome, Shinagawa-ku,
Japan. |
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GENG Jibin |
Flat D, 17/F., Tower 12, Providence Peak, 8
Fo Chun Road, Tai Po, New Territories, Hong Kong. |
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CHANG Yu-Chieh, Mike |
62, 5th Street, Hong Lok Yuen, Tai Po, New
Territories, Hong Kong. |
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Fumio SASHIDA |
4-13-15, Sekimachi-minami, Nerima-ku,
Tokyo, Japan. |
SECRETARY
(As per registry dated 11-06-2017)
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Name |
Address |
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YEE Chun Keung |
Unit 3503, 35/F., Wharf Cable TV Tower, 9
Hoi Shing Road, Tsuen Wan, New Territories, Hong Kong. |
HISTORY
The subject was incorporated on 11th June,
1999 as a private limited liability company under the Hong Kong Companies
Ordinance.
Originally the subject was registered under
the name of Ampex Corporation Ltd., name changed to Ampex Technology Ltd. on
24th September 1999 and the present style was adopted on 27th April, 2001.
Apart from these, neither material change nor
amendment has been ever traced and noted.
OPERATIONS
Activities: Manufacturer
and Exporter.
Lines: All kinds of
Lithium-Ion Polymer [LIP] battery cells and batteries for cell phone, PDA,
notebook PC, earphone, and smart card applications.
Group Employees: 99,693. (As at 31-03-2017)
Raw Materials: Bought from various sources through local suppliers.
Markets: China
(main), etc.
Group Net Sales: ¥ 841,847
million (Year ended 31-03-2013)
¥ 984,525 million (Year ended 31-03-2014)
¥1,082,560
million (Year ended 31-03-2015)
¥1,152,255
million (Year ended 31-03-2016)
¥1,178,257
million (Year ended 31-03-2017)
¥ 579,181 million (6 months ended 30-09-2016)
¥ 623,571 million (6 months ended 30-09-2017)
Terms/Sales:
L/C or as per
contracted.
Terms/Buying:
Various terms.
MEMBERSHIP
Hong Kong Critical Components Manufacturers
Association, Hong Kong.
FINANCIAL
INFORMATION
Issued Share Capital: US$220,170,014.00 &
HK$2.00
(2,775,135,400 fully paid ordinary shares in US
Dollars and 2 fully paid Non-voting Deferred shares in HK Dollars)
Mortgage or Charge:-
Date of Charge
on Cash Deposit: 13-12-1999
Amount: To
secure all moneys, obligations and liabilities
Property: The sum of HK$830,000 presently
represented or evidenced by Deposit Confirmation dated 13-12-1999, No.
03056650082414
Mortgagee: Kincheng Banking Corporation,
Hong Kong Branch. [Merged into Bank
of China (Hong Kong) Ltd.]
Group Net Income Attributable to TDK:-
¥
1,195 million (Year ended
31-03-2013)
¥
16,288 million (Year ended
31-03-2014)
¥
49,440 million (Year ended
31-03-2015)
¥
64,828 million (Year ended
31-03-2016)
¥145,099 million (Year ended 31-03-2017)
¥
30,689 million (6 months ended
30-09-2016)
¥
32,674 million (6 months ended
30-09-2017)
Profit or Loss: Group business is profitable.
Condition: Keeping
in a satisfactory manner.
Facilities: Making
active use of general banking facilities.
Payment:
Regular.
Commercial Morality: Satisfactory.
Banker:
Bank of China
(Hong Kong) Ltd., Hong Kong.
Standing:
Good.
GENERAL
Amperex Technology Limited [ATL] is a wholly-owned subsidiary of
TDK Corporation [TDK] which is a Japan-based firm.
In May 2005, ATL was acquired by TDK.
ATL is a leading producer and innovator of lithium-ion
batteries. It is known worldwide for its
high-tech, high-volume prowess in developing, producing and packaging high
quality rechargeable lithium-ion battery cells and packs. Its service, know-how, production capacity
and system integration capability is advanced.
Working closely with world-renowned branded smartphones, tablets and
notebooks OEMs, drones, robots and power tools specialists, VR/AR vanguards and
various wearable and smart home technology trailblazers, ATL is helping the world
connect better, last longer, live easier and fly higher. Headquartered in Hong
Kong, it operates factories in Dongguan and Ningde, in China.
ATL's founding entrepreneurs licensed US Bellcore Labs' patented
technology for lithium-ion polymer battery right away, while at the same time,
burying themselves in research and development.
ATL eventually became the only company to deploy the technology for mass
production. With its name firmly
established, ATL attracted orders from numerous international consumer brand
leaders.
ATL’s products are marketed throughout the world. Business is rather active.
Its parent company, TDK, is a public listed firm incorporated in
Japan. It is one of the world’s leading
electronics components manufacturers.
In the FY 16/17, TDK posted consolidated net sales of ¥1,178.3
billion, up 2.3% from ¥1,152.3 billion in FY 15/16. Net income attributable to TDK amounted to
¥30.7 billion, grew by 123.9% as compared with ¥64.8 billion in FY 15/16.
For the 6 months ended 30th September, 2017, the net sales of the
Group amounted to ¥623.6 billion, up 7.7% from ¥579.2 billion in the same
period of 2016. Net income attributable
to TDK amounted to ¥30.7 billion, decreased by 6.1% as compared with ¥32.7
billion in in the same period of 2016.
For the year ended 31st March, 2017, the Group had 99,693
employees (2016: 91,648).
ATL is fully supported by TDK.
History in Hong Kong is over 18 years and seven months.
On the whole, in view of the business and parentage of ATL,
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 63.75 |
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1 |
INR 89.39 |
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Euro |
1 |
INR 78.54 |
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HKD |
1 |
INR 8.13 |
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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PRA |
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Report Prepared
by : |
TRU |
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
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
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.