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MIRA
INFORM REPORT
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Report No. : |
498785 |
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Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
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Name : |
MEIZU TELECOM
COMPANY LIMITED |
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Registered Office : |
Room 1901-02, 19/F., Hollywood Plaza, 610 Nathan Road, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.06.2014 |
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Com. Reg. No.: |
63417680 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All Kinds of Telecommunication Equipment, Mobile Phones. |
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No. of Employees : |
6 |
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 : |
No Complaints |
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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 |
Company name & address
MEIZU TELECOM
COMPANY LIMITED
ADDRESS: Room 1901-02, 19/F.,
Hollywood Plaza, 610 Nathan Road, Kowloon, Hong Kong.
PHONE: 852-2388 8022
MANAGEMENT
Managing Director: Mr. Huang
Zhipan
SUMMARY
Incorporated on: 3rd June, 2014.
Organization: Private Limited Company.
Issued Share Capital: HK$116,840,099.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 6.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company name
MEIZU TELECOM COMPANY LIMITED
ADDRESS
Registered Head
Office:-
Room 1901-02, 19/F., Hollywood Plaza, 610 Nathan Road, Kowloon, Hong
Kong.
Holding Company:-
Beyond Noble International Ltd., British Virgin Islands.
Associated
Companies:-
Future Technology Enterprise Ltd., Hong Kong. (Same address)
Meizu Sales Ltd., Hong Kong.
(Same address)
Meizu Technology Co. Ltd., Hong Kong.
(Same address)
Zhuhai Meizu Technology Co. Ltd., China.
Zhuhai Meizu Telecom Equipment Co. Ltd., China.
etc.
BUSINESS REGISTRATION NUMBER
63417680
COMPANY FILE NUMBER
2104228
MANAGEMENT
Managing Director: Mr. Huang
Zhipan
ISSUED SHARE CAPITAL
HK$116,840,099.00 (100 fully paid ordinary shares)
SHAREHOLDER
(As per registry dated 03-06-2017)
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Name |
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No. of shares |
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Beyond Noble International Ltd. Palm Grove House, P.O. Box 438, Road Town, Tortola, British Virgin
Islands. |
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100 === |
DIRECTORS
(As per registry dated 03-06-2017)
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Name (Nationality) |
Address |
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HUANG Zhipan |
Room 102, Unit 2, Block 32, No. 52 Xingye Road, Xiangzhou Area,
Zhuhai, Guangdong Province, 519000, China. |
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WANG Jian |
Room 1401, Unit 2, Building 8, Zi He Yuan, He Jia Yuan, Xihu District,
Hangzhou City, Zhejiang Province, China. |
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LI Nan |
No. 6, Dajue Hutong, Xicheng District, Beijing, China. |
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BAI Yongxiang |
Room 1103, Building 3, No. 399, Xiangzhou Yanhe East Road, Xiangzhou
District, Zhuhai, Guangdong Province, China. |
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JI Gang |
Room, 1301, Unit 2, Building 26, Xi Xi Die Yuan, Xihu District,
Hangzhou City, Zhejiang Province, China. |
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ZHANG Yu |
Room 301, Unit 2, Building 1, Dejia Apartment East Zone, Xihu
District, Hangzhou, China. |
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HUANG Xiuzhang |
Block 1, Zone C, Golf Villa Zhuhai, Guangdong Province 519000, China. |
SECRETARY
(As per registry dated 03-06-2017)
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Name |
Address |
Co. No. |
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Focus Secretarial Services Ltd. |
Unit 1801-1802, 18/F., Jubilee Centre, 46 Gloucester Road,
Wanchai, Hong Kong. |
0322290 |
HISTORY
The subject was incorporated on 3rd June, 2014 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of telecommunication equipment,
mobile phones.
Employees: 6.
Commodities Imported: China, other
Asian countries, etc.
Markets: India, Southeast Asia, Europe,
Middle East, US, South America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
FINANCIAL INFORMATION
Issued Share Capital: HK$116,840,099.00
(100 fully paid ordinary shares)
Profit or Loss: Group made a loss in 2016.
Condition: Business is normal.
Facilities: Adequate for current running.
Payment: No Complaints.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 100 ordinary shares, Meizu Telecom Company Limited is a
wholly-owned subsidiary of Beyond Noble International Ltd. which is a
BVI-registered company.
All the directors of the subject are China merchants and currently
residing in China.
The subject is a telecommunication equipment and mobile phone
trader. It is in fact a member of Meizu
Group [Meizu / Group] of Companies.
The subject shares the office with its business partner Future
Technology Enterprise Ltd., a Hong Kong-registered company in Hong Kong.
The subject has registered with the Office of the Communications
Authority (OFCA), The Government of Hong Kong SAR, the People’s Republic of
China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of RU00190102
– RU (as at 16th January, 2018).
The subject is selling the following band names of mobile phones:
PRO, MX, MEI LAN,
U
series, etc.
Founded in 2003 by high-school dropout Jack Wong [Huang Zhang], Meizu
began as a manufacturer of MP3 players and later MP4 players. In 2008, Meizu moved its focus to
smartphones. Now, Meizu is the 11th
largest smartphone manufacturer in the world, and sold over 20 million units in
2015. In February, 2015, Alibaba
invested US$590 million in Meizu, acquiring an undisclosed minority stake.
Headquartered in Zhuhai Special Economic Zone, China, Meizu designs and
produces smartphones created to provide a simple, intuitive mobile experience
for people whose time is expected to be simply spent in using their devices,
instead of figuring out the way of using them.
Now Meizu remains laser focused on developing innovative and
user-friendly smartphones for consumers.
With more than 1,000 employees and 600 retail stores, Meizu has built a
global presence in Hong Kong, Israel, Russia and Ukraine, etc.
Currently, the Group has had a number of associated companies both in
China and Hong Kong.
Meizu launched the new flagship series named PRO series in September
2015 by announcing the Meizu PRO 5. This
device was also later showcased at MWC 2016 and eventually commercially
released in February 2016 as an alternative edition named Meizu PRO 5 Ubuntu
Edition running the Ubuntu Touch operating system.
The Meizu PRO 6, the successor to the PRO 5, was unveiled on April 13,
2016. It features a 10-core Helio X25 SoC, 4 GB of RAM and a 5.2-inch screen.
Meizu further extended its portfolio of M series products by releasing
the Meizu M3S, Meizu M3 Note, Meizu M3E and Meizu M3 Max in 2016. The current device of the MX series is the
Meizu MX6, which was released on July 19, 2016. Recently, Meizu seems to be
geared up for a new smartphone called as Meizu M4. Although the company hasn’t
put a word about this mobile, the alleged upcoming smartphone has been spotted
on TENNA certification.
The Group made a loss in 2016.
Business improved in 2017.
The subject is fully supported by Meizu Group. History in Hong Kong is just over three years
and eight months.
On the whole, consider it good for normal business engagements in small
credit amounts.
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 8.30 |
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 : |
TPT |
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.