MIRA
INFORM REPORT
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Report Date : |
10.09.2007 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN CATIC INFORMATION TECHNOLOGY INDUSTRY CO., LTD. |
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Registered Office : |
Room 301, 302, 3/F, Block 1, Phase 1,Shenzhen Software Park,
Gao Xin Zhong San Road, Nanshan District, Shenzhen, Guangdong
Province, 518057 Pr |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
Dec.7, 2001 |
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Com. Reg. No.: |
440301102775894 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in researching, developing and marketing professional
printers, such as passbook printers, line printers, laser printers. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Up To USD200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
SHENZHEN CATIC INFORMATION TECHNOLOGY INDUSTRY CO., LTD.
ROOM 301, 302, 3/F, BLOCK 1, PHASE 1,SHENZHEN SOFTWARE PARK,
GAO XIN ZHONG SAN ROAD, NANSHAN DISTRICT, SHENZHEN, GUANGDONG PROVINCE,
518057 PR CHINA
TEL : 0086-755-86168185
FAX :
0086-755-86168257
EXECUTIVE SUMMARY
INCORPORATION DATE :
DEC.7, 2001
REGISTRATION NO. :
440301102775894
REGISTERED LEGAL FORM :
LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. ZHANG JIANQUAN (CHAIRMAN)
STAFF STRENGTH :
220
REGISTERED CAPITAL :
CNY20,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY100,898,000 (AS OF DEC. 31,
2005)
EQUITIES :
CNY30,889,000 (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 7.54=US1$ AS OF
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
SC was registered as a limited liabilities co. at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Dec.7, 2001.
Company Status: Limited liabilities co. This
form of business in PR China is defined as a legal person. No more than
fifty shareholders contribute its registered
capital jointly. Shareholders bear limited liability to the extent of
shareholding, and the co. is liable for its debts only to extent of its
total assets. The characteristics of this form of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The
board of directors is comprised of three to thirteen members. The
minimum registered capital for a co. is CNY 30,000. Shareholders
may take their capital contributions in cash or by means of tangible assets
or intangible assets such as industrial property and non-patented
technology. Cash
contributed by all shareholders must account for at least 30% of the
registered capital. Existing
shareholders have pre-exemption right to purchase shares of the co. offered
for sale by the other shareholders and to subscribe for the newly increased
registered capital of the co.
SC’s registered business scope includes technology
developing, selling, providing after services and repairing computers, printers
and peripheral equipment; technology developing and selling DCE, automatic
office supplies, network and software (excluding specially operated, controlled
and monopolized commodities), importing and exporting commodities and
technologies (according to [2001]2323
Certificate), and installing professional printers.
SC is mainly engaged in researching, developing and marketing
professional printers, such as passbook printers, line printers, laser printers.
Mr.
Zhang Jianquan has been chairman of SC since 2001.
SC is known to have approx. 220 staff members at
present.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the industrial zone of
Shenzhen. Our checks reveal that SC owns the total premise about 1,710 square meters.
http://www.szcatic.com
The design is professional and the content is
well organized. At present it is both in Chinese and English versions.
E-Mail: catic@szcatic.com
Changes of SC’s registration information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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Registered capital |
CNY 6,000,000 |
CNY 20,000,000 |
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Shareholders (Shareholding) |
Chang Yuan (20%), GuangDong
Rising Assets Management CO.,Ltd. Union Committee (5%), Guangdong Hongling
Group Co., Ltd (8%), He Yiping (7.7%), Li Jun (1.1%), Lin Qiwu (9%), GuoCheng
Venture Capital Co., Ltd (9.9%), Shenzhen Catic Information Industry Co., Ltd
(2.5%), Shenzhen Yuanwang Co., Ltd (10.45%), Wang Jie (2.5%), Zhang Jianquan
(20%), Zhang Leping (3.85%) |
Chang Yuan (23.5%), GuangDong
Rising Assets Management CO.,Ltd. Union Committee (5%), Guangdong Hongling
Group Co., Ltd (8%), He Yiping (7.7%), Li Jun (1.1%), Lin Qiwu (9%), GuoCheng
Venture Capital Co., Ltd (9.9%), Shenzhen Catic Information Industry Co., Ltd
(0.75%), Shenzhen Yuanwang Co., Ltd (10.45%), Wang Jie (0.75%), Zhang
Jianquan (20%), Zhang Leping (3.85%) |
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Shareholders (Shareholding) |
Chang Yuan (23.5%), GuangDong
Rising Assets Management CO.,Ltd. Union Committee (5%), Guangdong Hongling Group
Co., Ltd (8%), He Yiping (7.7%), Li Jun (1.1%), Lin Qiwu (9%), GuoCheng
Venture Capital Co., Ltd (9.9%), Shenzhen Catic Information Industry Co., Ltd
(0.75%), Shenzhen Yuanwang Co., Ltd (10.45%), Wang Jie (0.75%), Zhang
Jianquan (20%), Zhang Leping (3.85%) |
Chang Yuan (23.5%), GuangDong
Rising Assets Management CO.,Ltd. Union Committee (5%), Guangdong Hongling
Group Co., Ltd (8%), He Yiping (7.7%), Li Jun (1.1%), Lin Qiwu (9%), GuoCheng
Venture Capital Co., Ltd (9.9%), Shenzhen Yuanwang Investment Developing Co.,
Ltd (10.45%), Shenzhen Catic Information Industry Co., Ltd (0.75%), Wang Jie
(0.75%), Zhang Jianquan (20%), Zhang Leping (3.85%) |
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Shareholders (Shareholding) |
Chang Yuan (23.5%), GuangDong Rising
Assets Management CO.,Ltd. Union Committee (5%), Guangdong Hongling Group
Co., Ltd (8%), He Yiping (7.7%), Li Jun (1.1%), Lin Qiwu (9%), GuoCheng
Venture Capital Co., Ltd (9.9%), Shenzhen Yuanwang Investment Developing Co.,
Ltd (10.45%), Shenzhen Catic Information Industry Co., Ltd (0.75%), Wang Jie
(0.75%), Zhang Jianquan (20%), Zhang Leping (3.85%) |
Chang Yuan (23.5%), Guangdong
Hongling Group Co., Ltd (8%), Li Jun (0.22%), Shenzhen Rising Investing
Development CO.,Ltd. (25.55%),GuoCheng Venture Capital Co., Ltd (9.9%),
Shenzhen Yuanwang Investment Developing Co., Ltd (10.45%), Shenzhen Catic
Information Industry Co., Ltd (0.75%), Tang Wenjin (0.88%), Wang Jie (0.75%),
Zhang Jianquan (20%) |
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Shareholders (Shareholding) |
Chang Yuan (23.5%), Guangdong Hongling
Group Co., Ltd (8%), Li Jun (0.22%), Shenzhen Rising Investing Development
CO.,Ltd. (25.55%),GuoCheng Venture Capital Co., Ltd (9.9%), Shenzhen Yuanwang
Investment Developing Co., Ltd (10.45%), Shenzhen Catic Information Industry
Co., Ltd (0.75%), Tang Wenjin (0.88%), Wang Jie (0.75%), Zhang Jianquan (20%) |
Chang Yuan
(23.5%), Li Jun (0.22%), GuoCheng Venture Capital Co., Ltd (9.9%), Shenzhen
Catic Information Industry Co., Ltd (0.75%), Tang Wenjin (0.88%), Wang Jie (0.75%),
Zhang Jianquan (20%), Shenzhen Rising Investing Development CO.,Ltd.
(25.55%), Guangdong Hongling Group Co., Ltd (8%), Huizhou Dayawan Yuanwang
Unite Co., Ltd (10.45%) |
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Shareholders (Shareholding) |
Chang Yuan (23.5%), Li Jun (0.22%),
GuoCheng Venture Capital Co., Ltd (9.9%), Shenzhen Catic Information Industry
Co., Ltd (0.75%), Tang Wenjin (0.88%), Wang Jie (0.75%), Zhang Jianquan
(20%), Shenzhen Rising Investing Development CO.,Ltd. (25.55%), Guangdong
Hongling Group Co., Ltd (8%), Huizhou Dayawan Yuanwang Unite Co., Ltd
(10.45%) |
Chang
Yuan (45.5%), Li Jun (0.22%), GuoCheng Venture Capital Co., Ltd (9.9%),
Shenzhen Catic Information Industry Co., Ltd (0.75%), Tang Wenjin (0.88%),
Wang Jie (0.75%), Zhang Jianquan (42%) |
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Registered no. |
4403012078791 |
440301102775894 |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Chang Yuan
45.5
Zhang Jian Quan
42
GuoCheng Venture Capital
Tang Wenjin
0.88
Wang Jie
0.75
Shenzhen Catic Information Industry
Li Jun
0.22
l
Legal
representative:
Mr. Zhang Jianquan, in his
Working Experience(s):
From 2001 to present Working in SC as chairman and legal representative.
*Officials*
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Name Title
Mr. Zhang Jianquan Chairman
Mr. Chang Yuan General manager and Director
Mr. Guo Shisheng Director
Mr. Zhang Leping Director
Mr. Su Yingwei Director
Mr. Zhang Shuting Director
Mr. Ma Jianjun Director
Mr. Cao Tianliang Supervisor
SC is mainly engaged in researching, developing and marketing professional
printers, such as passbook printers, line printers, laser printers.
SC’s products mainly include: Passbook Printers, Line Printers, Laser Printers, Matrix Printers, and Barcode Printers.
SC sources its materials 70% from domestic market and 30%
from the overseas market. SC sells 30% of its products to overseas market and 70% in domestic
market.
The buying terms of SC include Check, L/C, T/T and Credit of
15-30 days. The payment terms of SC include Check, T/T, and Credit of 15-30
days.
*News*
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*Major Customers*
==============
Shenzhen Customs
Printronix Co., Ltd
SC is not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent payment
and our debt collection record concerning SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent
payment record: None in our database.
Debt collection record: No overdue amount
owed by SC was placed to us for collection within the last 6 years.
China Merchants Bank Shennandong Branch
AC#：7981156610001
Relationship:
Balance Sheet
Unit: CNY’000
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as
of Dec. 31, 2004 |
as
of Dec. 31, 2005 |
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Cash
& bank |
6,227 |
31,995 |
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Bills
receivable |
0 |
0 |
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Accounts
receivable |
44,278 |
28,166 |
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Other
receivables |
1,154 |
2,883 |
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Advances to
suppliers |
223 |
126 |
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Inventory |
18,460 |
17,747 |
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Prepaid expenses |
7,066 |
2,464 |
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Wait deal
intangible assets loss |
152 |
1 |
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Other
current assets |
0 |
0 |
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------------------ |
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Current
assets |
77,560 |
83,382 |
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Fixed assets |
1,545 |
9,015 |
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Fixed
assets net value |
1,545 |
9,015 |
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Projects
under construction |
0 |
0 |
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Long
term investment |
0 |
0 |
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Other
assets |
16,817 |
16,817 |
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------------------ |
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Total
assets |
95,922 |
109,214 |
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============= |
============= |
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Short
loans |
38,348 |
46,026 |
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Bills
payable |
0 |
0 |
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Accounts
payable |
4,770 |
5,649 |
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Welfare
payable |
0 |
0 |
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Advances from
clients |
0 |
0 |
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Accrued
payroll |
-12 |
0 |
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Tax
payable |
2,671 |
3,273 |
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Other
payable |
19,449 |
18,134 |
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Surcharge
payable |
11 |
11 |
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Accrued expenses |
1,685 |
5,232 |
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Other
current liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
66,922 |
78,325 |
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Long
term liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
66,922 |
78,325 |
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Equities |
29,000 |
30,889 |
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Total
liabilities & equities |
95,922 |
109,214 |
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Income Statement
Unit: CNY’000
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as of Dec. 31,
2004 |
as of Dec. 31,
2005 |
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Turnover |
103,729 |
100,898 |
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Cost of goods
sold |
83,590 |
71,926 |
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Sales expense |
11,517 |
16,596 |
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Management expense |
1,077 |
5,302 |
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Finance expense |
2,487 |
4,885 |
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Profit before
tax |
5,129 |
2,223 |
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Less: profit tax |
769 |
333 |
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Profits |
4,360 |
1,890 |
Important Ratios
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as
of Dec. 31, 2004 |
as
of Dec. 31, 2005 |
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*Current ratio |
1.16 |
1.06 |
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*Quick ratio |
0.88 |
0.84 |
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*Liabilities
to assets |
0.70 |
0.72 |
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*Net profit
margin (%) |
4.20 |
1.87 |
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*Return on
total assets (%) |
4.55 |
1.73 |
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*Fixed
assets/Total assets |
0.02 |
0.08 |
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*Inventory
/Turnover ×365 |
65 days |
65 days |
|
*Accounts
receivable/Turnover ×365 |
156 days |
102 days |
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*Turnover/Total
assets |
1.08 |
0.92 |
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*Cost of goods
sold/Turnover |
0.81 |
0.71 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in
its line.
l
SC’s net profit margin is average, but it
moved down in 2005.
l
SC’s return on total assets is average, but it also
decreased in 2005.
l
SC’s cost of goods sold to turnover
ratio is maintained in a normal level.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained
in a normal level.
l
SC’s quick ratio is maintained in a
normal level.
l
The inventory of SC and inventory conversion period appears acceptable.
l
The accounts receivable of SC appears fairly large.
l
The short loans are LARGE.
l
SC’s turnover is in an average level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is slightly
high.
l
The risk for SC to go bankrupt is
average.
Overall
financial condition of the SC: Fairly stable.
SC is considered a medium-sized company in its line with fairly stable financial conditions. The large amount of short loans could be a threat to SC’s financial condition. A credit line up to USD200,000 would appear to be within SC’s capacities.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)