Room 801, Inter-Continental Plaza,No. 94 Granville Road, Tsim Sha Tsui East,
Kowloon, Hong Kong
Tel (852) 2398 3331
E-mail cs@verona.com.hkcVerona Risk Management
Hong Kong SAR
Business Information Report

This is the report furnished at your inquiry on:

Co. Name
Request Date
Delivery Date

CREDIT ＊＊＊＊＊ LIMITED
信用＊＊股份有限公司**-Apr-2024**-May-2024

This report is furnished at your request in strict confidence by VERONA RISK Management (VRM). VRM serves as your agent in providing thisreport for your restricted use as one of the factors in considering a business-to-business credit decision, marketing, insurance & businessverification only. This report shall not be revealed or made known to a third party and shall not be reproduced in whole or in any part or mannerwhatsoever. VRM does not guarantee the accuracy, completeness, or timeliness of report information and shall not be liable for any loss, claim,
or damage resulting from using this report. VRM reserves the right to recall this report at any time under any circumstances. You shall be liable
to indemnify VRM for any loss, or damage by your breach of terms here & sales agreement. The unauthorized reproduction of this report isstrictly prohibited.

Copyright© 2024 – VERONA RISK MANAGEMENT LIMITEDReport Date
Subject Company

16-Sep-2015
Name of Subject Company Limited

CREDIT ＊＊＊＊＊ LIMITED

Corporate Profile-

Company Number

0000***

Registered Name (Eng)CREDIT ＊＊＊＊＊ LIMITED

Registered Name (Chi)-

信用＊＊股份有限公司

Business Name

N/A

Company TypePrivate Company Limited by Shares

Annual Return Date

2023/7/**

Registered Address

20/F, **** Industrial Centre, *** A**** Road, Tsuen Wan, N.T., Hong Kong

Business Address

Same as above

Date of Incorporation**-Jul-1990

Active Status

Live

Telephone+852 **** 0000

Facsimile+852 **** 0001

Websitewww.****gr.com

Business Registration No.

1******0

Paid Up Capital

HKD 3,000,000

ListedN/ALine of Business

Manufacturing and wholesale of garment and backpack accessories

Employee Size

Local 100 - 150
Group 1,000 – 1,500

VRM Credit Rating©

B

All monetary amounts and donations HK$ shown in Hong Kong Dollars except where specifically stated;“—“stands for Insufficient Information or “Not to Comment”

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CREDIT ＊＊＊＊＊ LIMITED

Executive Overview
ANALYSIS•

After considering the below factors, the Subject’s VRM Credit Rating is "B", it represents lower than averagerisk, and it is recommended to proceed credit transaction.

EXECUTIVE SUMMARY•

Subject registered since 19** with ** years of business history•

Subject has 100 - 150 employees locally and 1,000 – 1,500 staff as a Group•

Subject registered as a private limited company with a paid-up capital of HKD 3,000,000•

Subject is owned by a group of natural person•

Subject has no outstanding registered charges•

Subject’s line of business is Manufacturing and wholesale of garment and backpack accessories•

No court records were identified related to Subject in the past 10 years•

Subject owns its premise at the Grade B Industrial building•

Phone investigation to Subject, contact person confirmed basic information•

Subject has 3 property assets in Hong Kong•

Investigation revealed that Subject Company was firstly established by ***, a Taiwan based company formed
in 19** through the merges of 3 Taiwanese companies, specialized in Garment and Backbag Accessories. “******”, headquartered in Hong Kong, being the exclusive licensed manufacturer and sales representative of ***brand product in China, Taiwan, and Hong Kong. The Group also has manufacturing facilities, sales officelocated in Vietnam, US, Germany and Europe.

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CREDIT ＊＊＊＊＊ LIMITED

Credit Risk Evaluation
VRM © Credit Rating

B

Score

Range

Risk Level

Guide to Interpretation

72

71-88

Lower than average

Proceed credit transaction

CREDIT RISK EVALUATION PARAMETERSWEIGHTED %

SCORE

22

14

20

15

18

15

16

9

14

11

10

8

TOTAL SCORE

100

72

VRM Credit Rating©

71-88

B

Company Scale
Company size in terms of its local & group employee size, whether Subject
has branches, factories, or operation sites across the region(s).
Litigation Record
Recorded as a defendant in last 10 years; Court type & actions nature;
Recorded as a plaintiff in last 10 years; Liquidation filings in last 3 years
History & Background
Years of the establishment (business records), Legal type & structure; Paidup capital; Parent & Group company’s support
Industry & Business Outlook
Industry performance and forecast; Business operation trend;Management’s experience & background; Customer base;Premises Condition
The registered office’s ownership, or rent through its' directors; Anymortgage records found; The premises condition, size, and location
Financial Strength
Profitability, Cash Flow & Liquidity, Liabilities, Operation Efficiency, Sales
growth, Asset Value*Any unscored parameters will be adjusted to a new weighted average for a fair credit risk evaluation.

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CREDIT ＊＊＊＊＊ LIMITED

Credit Risk Evaluation
Subject's Performance
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Company Scale

Litigation Record

History &BackgroundIndustry &Business Outlook

Premises
Condition

Financial Strength

Parameter Performance indicates the strength of each rated element in VRM’s Scorecard

Methodology & Reference Guide
Formulated from over 20 business attributes in accordance with the matrix of industry, operation,
history, financial details, public filings, and litigation records. Each attribute has been scored andweighted with a rule-based model to produce the most consistent and accurate result. This quantitative
measurement provides a direct and easy-to-understand approach to reflect the risk level of a business.
Score
Range

Rating

89+

A

Lowest Risk

Proceed transaction and extend credit where necessary

71-88

B

Lower than average

Proceed credit transaction

46-70

C

Moderate

Proceed transaction with continuous monitoring

31-45

D

Higher than average

Proceed transaction with guarantee or secured assets

0-30

E

Highest Risk

Review the case and take in-depth investigation

Description

Guide to Interpretation

End of This section

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CREDIT ＊＊＊＊＊ LIMITED

Registration & History
Registration Information
Company Number

0000***

Registered Name (Eng)CREDIT ＊＊＊＊＊ LIMITED

Registered Name (Chi)

信用＊＊股份有限公司

Business Name

N/A

Type of Company

Private Company Limited by Shares

Annual Return Date

2023/7/**

Registered Address

20/F, **** Industrial Centre, *** A**** Road, Tsuen Wan, N.T., Hong
Kong

Email Address

Nil

Mortgages & Charges

Nil

Share Capital
Class

Currency

Total Number

Total Amount

Total Paid-up

Ordinary

HKD

3,000,000

3,000,000

3,000,000

Total

HKD

3,000,000

3,000,000

3,000,000

Company Secretary / Registered Agent
Company Secretary Name

*大* **** Tai ****, Timothy

Com Sec Address

20/F, **** Industrial Centre, *** A**** Road, Tsuen Wan, N.T., HongKong

Com Sec ID

HKID: D476XXXX

Shareholding
Name
Credit *** I* Co., Ltd.
*大* * Tai ************** ***** *************** ***** *************** ***** *****

Address
20/F, **** Industrial Centre, *** A****
Road, Tsuen Wan, N.T., Hong Kong
20/F, **** Industrial Centre, *** A****
Road, Tsuen Wan, N.T., Hong Kong
20/F, **** Industrial Centre, *** A****
Road, Tsuen Wan, N.T., Hong Kong
20/F, **** Industrial Centre, *** A****
Road, Tsuen Wan, N.T., Hong Kong
20/F, **** Industrial Centre, *** A****
Road, Tsuen Wan, N.T., Hong Kong
Total

Shares Held%840,000

28.00***,000**.*****,000**.*****,000**.*****,000**.**

3,000,000

100

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CREDIT ＊＊＊＊＊ LIMITED

Registration & History
List of Directors
Remarks

Name

Address

Identification* Tai ****

20/F, **** Industrial Centre, *** A**** Road,
Tsuen Wan, N.T., Hong Kong

HKID: D476XXXX********** *** ****

20/F, **** Industrial Centre, *** A**** Road,
Tsuen Wan, N.T., Hong Kong

HKID: P302XXXX********** *** ***20/F, **** Industrial Centre, *** A**** Road,
Tsuen Wan, N.T., Hong Kong

HKID: P881XXXX********** ** ****

20/F, **** Industrial Centre, *** A**** Road,
Tsuen Wan, N.T., Hong Kong

HKID: P092XXXX********** *** ***20/F, **** Industrial Centre, *** A**** Road,
Tsuen Wan, N.T., Hong Kong

Republic of China:
353XXXXX*大*Registered Charges / Mortgage / Pledge Records
The Charges stated below may not show the full history of all transactions relating to the registered charges of the subject,some of the charges may have been released or not reflected in this report. The reports showed up to 20 historical years fromthe date of investigation

Registration Number

N/A

Details

N/A

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CREDIT ＊＊＊＊＊ LIMITED

Registration & History
Registration History
Company Name Changes History
Date

Changes Details**-JUL-1995

CREDIT ＊＊＊＊＊ LIMITED
信用＊＊股份有限公司**-OCT-19**

CREDIT INTERNATIONAL ＊＊＊＊ LIMITED
信用国際＊＊＊＊＊股份有限公司**-JUL-19**

CREDIT ＊＊＊ LIMITED
信用＊＊＊有限公司

Company Registration Changes since the latest Annual Return
Date

Details

N/A

N/A

End of This Section

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CREDIT ＊＊＊＊＊ LIMITED

Litigation Records
Results were extracted and matched by using Company Name, up to 10 historical years’ records from the date of the investigation.
Based on the nature of the name search, it could not guarantee the absolute correctness of matching results and should be used
as a reference only.

No Litigation records were found related to the subject at the time of investigation

End of This Section

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CREDIT ＊＊＊＊＊ LIMITED

Census and Statistics Department News
News and Update from HKSAR – Census and Statistics Department
Date

28 Apr 2022

Headline

External merchandise trade statistics for March 2022
The Census and Statistics Department (C&SD) released today (April 28) the external
merchandise trade statistics for March 2022. In March 2022, the values of Hong
Kong's total exports and imports of goods both recorded year-on-year decreases, at
8.9% and 6.0% respectively.
In March 2022, the value of total exports of goods decreased by 8.9% over a year
earlier to $372.8 billion, after a year-on-year increase of 0.9% in February 2022.
Concurrently, the value of imports of goods decreased by 6.0% over a year earlier to$410.0 billion in March 2022, after a year-on-year increase of 6.2% in February 2022.
A visible trade deficit of $37.3 billion, equivalent to 9.1% of the value of imports ofgoods, was recorded in March 2022.
For the first quarter of 2022 as a whole, the value of total exports of goods
increased by 3.4% over the same period in 2021. Concurrently, the value of importsof goods increased by 2.9%. A visible trade deficit of $62.7 billion, equivalent to 5.2%of the value of imports of goods, was recorded in the first quarter of 2022.
Comparing the first quarter of 2022 with the preceding quarter on a seasonallyadjusted basis, the value of total exports of goods decreased by 2.9%. Meanwhile, thevalue of imports of goods decreased by 1.8%.
Analysis by country/territory

Content

Link

Comparing March 2022 with March 2021, total exports to Asia as a whole dropped
by 8.6%. In this region, decreases were registered in the values of total exports tosome major destinations, in particular the mainland of China (the Mainland) (-12.8%),
Japan (-6.8%), Thailand (-2.6%) and Korea (-1.1%). On the other hand, increases wererecorded in the values of total exports to Singapore (+24.8%) and Taiwan (+20.8%).
Apart from destinations in Asia, decreases were registered in the values of totalexports to some major destinations in other regions, in particular the United Kingdom(-39.8%). However, the value of total exports to the USA increased by 7.0%.
Over the same period of comparison, decreases were registered in the values ofimports from some major suppliers, in particular the Mainland (-19.9%), Japan (7.4%), Thailand (-5.4%) and Vietnam (-3.3%). Concurrently, increases were recordedin the values of imports from Taiwan (+34.1%) and the USA (+17.7%).
For the first quarter of 2022 as a whole, year-on-year increases were registered in
the values of total exports to most major destinations, in particular India (+45.8%),
Taiwan (+37.0%), Singapore (+30.9%) and the United Arab Emirates (+20.7%).
However, the value of total exports to the Mainland decreased by 0.9%.
Over the same period of comparison, year-on-year increases were registered in
the values of imports from most major suppliers, in particular Taiwan (+32.4%), thePhilippines (+10.8%), the USA (+10.7%) and Thailand (+10.5%). However, decreases
were recorded in the values of imports from Japan (-2.7%) and the Mainland (-2.5%).
https://www.censtatd.gov.hk/en/press_release_detail.html?id=5040&r=en

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CREDIT ＊＊＊＊＊ LIMITED

Operation
Employee Size
Employee Size (Local)

100 - 150

Employee Size (Group)

1,000 – 1,500

Line of BusinessLine of Business

Manufacturing and wholesale of garment and backpack accessories

Products and Operation
Products /Service

Garment, sporting goods and backpack accessories such as metal, plastic, polyester,and urea buttons, snaps, fasteners, buckles and eyelets etc.

Major Brands / Logo
Scale & Type

Large size / Multinationals

Qualification

ISO 9001, ISO 14001

Sourcing Activities
Sourcing Area

China, East-Asian,

Sourcing Terms

COD, Contract term, T/T, L/C

Key Suppliers

N/A

Sales Activities
Segment / Countries

GlobalSelling Terms

COD, Contract term, T/T, L/C

Key Customers

NI**, A**DAX, ****, ***, COL****

Premises
Related to Subject

Self-owned

Address

20/F, **** Industrial Centre, *** A**** Road, Tsuen Wan, N.T., Hong Kong

Name of Owner

CREDIT ＊＊＊＊＊ LIMITED

Usage

Industrial

End of This Section

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CREDIT ＊＊＊＊＊ LIMITEDCountry Risk Indicators
COUNTRY INFORMATIONJURISDICTION

HONG KONG SAR

ITEMS

DATA

LAST REPORTED DATECurrency

Hong Kong Dollar (HKD)

N/A

7.85 (USD to HKD)

Q1/20227.76 million

Year End 2021

GDP / Quarter (HKD million)

668,198

Q1/2021

GDP annual growth-2.90

Jun 2022

Unemployment rate

5.1

Q1-2022

Interest rate

1.25$

May / 2022

Exchange Rate
Population

GENERAL OBSERVATIONS
GDP by expenditure component for the first quarter of 2022
According to the revised figures on the Gross Domestic Product (GDP) released by the Census and Statistics
Department, real GDP contracted by 4.0% year-on-year in the first quarter of 2022 (the same as the advanceestimate), having expanded by 4.7% in the preceding quarter.
On a seasonally adjusted quarter-to-quarter comparison, real GDP decreased by 3.0% in the first quarter (revised
from the advance estimate of -2.9%), after staying virtually unchanged in the preceding quarter
Private consumption expenditure turned to a decline of 5.5% in real terms from a year earlier amid a drastic fall in
people flow and deteriorating labour market conditions.

GLOBAL SOVEREIGN RATINGAGENCIES

RATINGOUTLOOKLAST REPORTED DATEMOODY’s

Aa3

Stable08-Mar-2022

S&P

AA+

Stable30-Sep-2021

FITCH

AA-

Stable07-Apr-2022

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CREDIT ＊＊＊＊＊ LIMITED

Corporate Linkage
Affiliates
Company Name

香港信用＊＊＊＊有限公司
CREDIT **** HONG KONG LIMITED

Co. Number

1173***

RelationshipCommon Director

Company Name*****投資有限公司****** INVESTMENT LIMITED

Co. Number

02*****

RelationshipCommon Director

End of this Section

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CREDIT ＊＊＊＊＊ LIMITED

Property Asset
Property Owned by Subject
Address

20/F, **** Industrial Centre, *** A**** Road, Tsuen Wan, N.T., Hong Kong

Date**-Nov-2022

Price

HKD 12,***,000

Mortgage Bank

N/A

Usage

Industrial

Address

20/F, **** Industrial Centre, *** A**** Road, Tsuen Wan, N.T., Hong Kong

Date**-Jul-1995

Price

N/A

Mortgage Bank

N/A

Usage

Industrial

End of Report

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Appendices
Court Abbreviation
The Court of Final Appeal
FACV Final Appeal - Civil

FAMV

FACC

FAMC

Final Appeal - Criminal

Miscellaneous Proceedings
The Court of Appeal in the High Court
CACV Civil Appeal
High Court

Miscellaneous Proceedings - Civil (Miscellaneous Proceedings Criminal

FAMP

HCAJ

CACC

Criminal Appeal (CACC)HCBHigh Court Bankruptcy Proceedings

HCBS

High Court Bill Of Sales Registration

HCA

Admiralty Action
High Court Application to set aside astatutory
High Court Civil Action

HCBD

Bookdebt Registration

HCCL

High Court Commercial Action

HCBI

Application For Interim Order

HCCWHigh Court Companies Winding-Up

HCMPHigh Court Miscellaneous Proceeding

HCAL

Constitutional and Administrative
Law Proceedings

HCPI

High Court Personal Injuries

HCCTHigh Court Construction &Arbitration Proceedings

HCCC

Criminal CaseHCSDIntellectual Property Case
District Court
HCIP

DCCJ

District Court Civil Action

DCDT

District Court Distrait

DCTC

District Court Tax Claim

DCEC

DCEO

District Court Equity Opportunity

DCMP

DCPI

District Court Personal Injury Case

DCCC

District Court Employee compensation
District Court Miscellaneous
Proceedings
District Court Criminal Case

Lands Tribunal
LDPA Part I Possession Application
LDPB Part II Possession Application
LDPE Part V Possession Application
LDNT New Tenancy Application
LDLA Landlord & Tenant Appeal
LDRA Rating Appeal
LDBG Buildings Ordinance Application
LDGA Government Rent Appeal
Miscellaneous
References
LDMR
Application
OthersSCTC

Small Claim Tribunal

LDLR
LDHA
LDBM
LDDB
LDDA
LEDMT
LDCS
LDRW
LDMP

ES, KC, KT, TW,
ST, FL, TM, WKLand Resumption Application
Housing Ordinance Appeal
Building Management Application
Demolished Buildings Application
Demolished Buildings Appeal
MTR Ordinance Application
Land Compulsory Sales Application
Railways Ordinance Application
Miscellaneous Proceedings
Application
Magistrates' Courts

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AppendicesDefinition of corporate Linkage
Property Asset - Complete search of Property Asset owned by Subject Company in Hong Kong;
Transaction recorded from 1996 till now
Ultimate Parent - Holding Company or Management Company that is at the top level of the Group
Parent - Mother Company owns more than 50% shareholding of the Subject Company
Subsidiaries - Company that 50% of shares being owned by the Subject
Affiliates - Company that has an association with the Subject

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