Background:

• European based high-end Audio Company with majority bought out by the fund.
• Audio Company had existing operations in Greater China.

Client’s Requests:

• Perform investigation on operations of Audio Company and on their existing business in the Greater China Region, including the management, operations and procedures.
• Reorganization and restructuring of their Greater China operations, based on our findings and recommendations

Our Work:

• Due diligence of operations in Hong Kong & the PRC and found abnormal accounts receivables and illegitimate import and export transactions
• Based on efficiency, legitimacy and risk assessments, formulated new action plan to further develop business in the Greater China Region

Results:

• Implement, advice, and monitor new business operations setup and transition
• Setup new operations in the PRC, obtaining all relevant approvals and licenses from government departments
• Ceased all illegitimate import and export activities and setup and implemented completely transparent and legal importing business
• Corrected abnormal receivables amounts by 70% in 6 months and reduced average aging from over 9 months to less than 3 months.

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