MIRA
INFORM REPORT
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Report Date : |
29.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
Competition Co., Ltd. |
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Registered Office : |
11F, Xinhai Building,
No. 106 Jida Yuanlin Road, Zhuhai, Guangdong Province, 519015 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
14.10. 1997 |
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Com. Reg. No.: |
4404002004378 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing
Intelligent Anti-Burglar Intercom Systems and other Security Products. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 40,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
Competition Co., Ltd.
11F, Xinhai
Building, NO. 106 JIDA Yuanlin Road,
Zhuhai, Guangdong
Province, 519015 PR CHINA.
106 11
TEL: 86 (0)
756-3369555 FAX: 86 (0) 756-3369088
EXECUTIVE SUMMARY
INCORPORATION DATE : OCTOBER 14, 1997
REGISTRATION NO. : 4404002004378
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 200
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE : MANUFACTURING
TURNOVER : CNY 26,052,000 (AS OF DEC. 31, 2006)
EQUITIES : CNY 6,567,000 (AS OF DEC. 31,
2006)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 40,000 (periodical review)
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
7.003 = US$ 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
SC was registered as a limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on October 14, 1997.
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 manufacturing, installing and selling security products
(validity period as of July 17, 2010); wholesaling
and retailing electronic products, communication equipment (excluding mobile
communication terminal equipment), chemical products and raw materials (excluding hazardous chemicals), automobile parts, general merchandise,
hardware, building materials, photographic equipment, computers and parts,
textiles and garments; importing and exporting
commodities and technologies (in accordance with Zhuhai Foreign Trade and
Economy Department No. [2004]119); processing electronic products.
SC is mainly
engaged in manufacturing intelligent anti-burglar intercom systems and other
security products.
Ms.
Geng Chunrong has been legal
representative of SC since October 1997.
SC is known to have approx. 200 employees at
present.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the commercial zone of
Zhuhai. SC’s accountant refused to release detailed information of the premise.
http://www.competition.com.cn/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: com@competition.com.cn
Competition gained the honor of "The Satisfactory and
the 1st Selective Brand Of The Products Quality In China" in 2003,
"The Trustful Product of the Chinese Customers" , "The Honest
and Paradigmatic Enterprise of the Quality In China" in 2004,
"Recommend Components & Products for National Demonstration Projects
of Housing" in 2006 , " Top 10 Innovative Security Products
2006", "Top 30 Foreign Security Companies in China, 2007" :
achieved 3 patents of New Practical products and 10 patents of cosmetic design
in 2005. Competition obtained the approval of CE, FCC, ISO9001, and RoHS.
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2002-04 |
Registered capital |
CNY 1,400,000 |
CNY 2,000,000 |
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2004-08 |
Registered capital |
CNY 2,000,000 |
CNY 3,000,000 |
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2005-08 |
Main Shareholders |
Geng Chunrong (耿春荣)(88%) Zhou Dahai （周大海）(12%) |
Geng Chunrong (耿春荣)(88%) Li Lianying （李莲英）(12%) |
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2006-09 |
Registered capital |
CNY 3,000,000 |
CNY 5,000,000 |
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2007-01 |
Paid-up capital |
Geng Chunrong (耿春荣)(88%) Li Lianying （李莲英）(12%) |
Geng Chunrong (耿春荣)(88%) Liu Yi （刘毅）(12%) |
MAIN SHAREHOLDERS:
Name % of Shareholding
Geng Chunrong 88
Liu Yi 12
l
Legal representative:
Ms. Geng Chunrong , ID # 210204460413304. She is currently
responsible for the overall management of SC.
Working Experience(s):
From 1997 to present Working
in SC as legal representative.
SC is mainly
engaged in manufacturing intelligent anti-burglar intercom systems and other
security products.
Main Products:
indoor monitor, outdoor station, administrator, etc.
Brand: Competition
SC sources its materials 70%
from domestic market, and 30% from overseas market. SC sells 80% of its
products in domestic market, and 20% to overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
Competition Electronic Technology
Co., Ltd.
Address:
Xinhai Building, No. 106 Jida Yuanlin Road, Zhuhai, Guangdong Province
TEL: 86 (0) 756-3369555 FAX: 86 (0) 756-3369088
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.
SC’s management
declined to release its bank details.
Financial
Information
Unit: CNY’000
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as of Dec. 31, 2006 |
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Total
liabilities |
13,525 |
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Shareholders
equities |
6,567 |
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Total Assets |
20,092 |
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Turnover |
26,052 |
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Profit before
tax |
-686 |
Important Ratios
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as of Dec. 31, 2006 |
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*Liabilities
to assets |
0.67 |
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*Turnover/Total
assets |
1.30 |
Overall financial
condition of the SC: Fairly stable.
SC is considered medium-sized in its line with fairly stable financial
conditions. A credit line up to USD 40,000 would appear to be within SC’s
capacities upon a periodical review basis.
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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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%)