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MIRA INFORM REPORT
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Report No. : |
497267 |
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Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
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Name : |
HONG KONG ZE XIN INDUSTRIAL CO., LIMITED |
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Registered Office : |
C /o Precision Press Ltd. Unit 1, 10/F., Seapower
Centre, 73-77 Lei Muk Road, Kwai Chung, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.07.2009 |
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Com. Reg. No.: |
50908690 |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Subject providing customers with raw
material procurement, product distribution, logistics and transportation,
warehousing and distribution, simple processing, import and export
declarations, order and inventory management, tax refund application,
financing loan, and supply chain design , internal management consulting and
training services. |
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No. of Employees : |
No employees in Hong Kong. NOTE: It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there. |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
No operating office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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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. In 2017, Chief Executive Lam announced plans to increase government spending on research and development, education, and technological innovation with the aim of spurring continued economic growth through greater sector diversification.
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Source
: CIA |
Note
The subject is not located at your given
address “1, Queen’s Road Central, Hong Kong” where is the headquarters of The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Company
name and address
HONG KONG
ZE XIN INDUSTRIAL
CO., LIMITED
ADDRESS:
Registered Office:-
c/o Precision Press Ltd.
Unit 1, 10/F., Seapower Centre, 73-77 Lei Muk
Road, Kwai Chung, New Territories, Hong Kong.
Business Name:-
China Customs & Shipping Research Institute,
Hong Kong.
(Same address)
Associated Company:-
Shenzhen Qianhai Yinxin Supply Chain
Management Ltd.
Room 807, Main Tower, Shipping Centre, 59
Linhai Dadao, Qianhai Shengang Co-operative Area, Shenzhen Special Economic
Zone, China. [Tel.: 755-2998 3812]
BUSINESS
REGISTRATION NUMBER
50908690
COMPANY
FILE NUMBER
1354016
DATE
OF INCORPORATION
20th
July, 2009.
ISSUED
SHARE CAPITAL
HK$6,000.00
SHAREHOLDER
(As per registry dated 20-07-2017)
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Name |
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No. of shares |
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WU Zhixiu |
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6,000 ===== |
DIRECTOR
(As per registry dated 20-07-2017)
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Name (Nationality) |
Address |
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WU Zhixiu |
Room 201, #13 Shicheng Road, Nan Ling of Mi
Cheng Mountain Main Road, Nanjiang Town, Nanjiang County, Sichuan Province,
China. |
SECRETARY
(As per registry dated 20-07-2017)
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Name |
Address |
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LAI Sun Yee, Michael |
Room 1, 10/F., Seapower Centre 73 Lei Muk
Road, Kwai Chung, New Territories, Hong Kong. |
HISTORY
The subject was incorporated on 20th July, 2009
as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under
the name of Galaxy Supply Chain Management (HK) Ltd., name changed to the
present style on 19th November, 2012.
Apart from these, neither material change nor
amendment has been ever traced and noted.
GENERAL
Hong Kong Ze Xin Industrial Co., Limited was incorporated on 20th
July, 2009 as a private limited liability company under the Hong Kong Companies
Ordinance.
The subject does not have its own operating office. Its registered office is in a Hong
Kong-registered company located at ‘Unit 1, 10/F., Seapower Centre, 73-77 Lei
Muk Road, Kwai Chung, New Territories, Hong Kong’ known as ‘Precision Press
Ltd.’ [PPL] which is handling its correspondences and documents. The director of PPL Mr. Lai Sun Yee Michael
is also company secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has
issued 6,000 ordinary shares of HK$1.00 each which are wholly-owned by Mr. Wu
Zhixiu who is a China merchant.
He is a China ID holder and does not have the right to reside in
Hong Kong permanently. He is also the
only director of the subject. His
registered address is in Nanjiang County, Sichuan Province, China.
We can reach nobody at your given China mobile phone number 86‑13728656945.
The subject has had an associated company known as Shenzhen
Qianhai Yinxin Supply Chain Management Ltd. [Yinxin] in Shenzhen SEZ, China.
Yinxin is a professional supplier of logistic services, capital
pooling, and information studying. It is
a supply chain service company and has five major distribution centres in Hong
Kong, South China, North China, East China and Southwest China. It also has branch offices in Vietnam, Japan,
Europe, and the Middle East, as well as franchise agencies and service agencies
in many countries and regions around the world.
Using sophisticated information systems and service networks,
Yinxin is committed to providing customers with raw material procurement,
product distribution, logistics and transportation, warehousing and
distribution, simple processing, import and export declarations, order and
inventory management, tax refund application, financing loan, and supply chain
design , internal management consulting and training services.
Yinxin has been handling the following commodities:
Daily Chemicals, infant products, foodstuffs, fresh products,
wines and spirits, products for automobile, electronic products, bathroom
products, small mechanical equipment, etc.
Yinxin in China has established cooperation or liaison with
Wal-Mart, Carrefour, China Resources Vanguard, Friendship, Sinopec
Petrochemical Gas Station, and cross-border e-commerce platform companies, etc.
It also has established itself as cross-border e-commerce
platform.
The subject is engaged in the same lines of business as Yinxin.
Mr. Wu Zhixiu is one of the shareholders and directors of Yinxin.
The subject’s business in Hong Kong is not very active. History in Hong Kong is over eight years
and seven months.
The subject has been banking with The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Since the subject does not have its own operating office and has
no employees in Hong Kong, consider it good for business engagements on L/C
basis or in small credit amounts.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses the
address of its secretariat as its correspondence address only. Subject operates
from some other country and does not have a base in Hong Kong. Such companies
are registered in Hong Kong just to tax benefit purpose and due to the strict
privacy laws prevailing in the country. In such cases, the companies are not
required to have any employees in Hong Kong nor do have an office there.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.87 |
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1 |
INR 90.49 |
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Euro |
1 |
INR 79.91 |
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HKD |
1 |
INR 8.29 |
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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DIV |
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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
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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
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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.