MIRA
INFORM REPORT
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Report Date : |
04.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
TP LINK TECHNOLOGIES CO LTD |
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Registered Office : |
RM 522, Block C, Shennan Garden, West Shennan Road, Nandhan District, Shenzhen,
Guangdong Province-518 000 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
08.07.2005 |
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Com. Reg. No.: |
440301103157523 |
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Legal Form : |
Limited Liabilities Company |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
Name and Address
TP- LINK TECHNOLOGIES CO., LTD.
RM. 522, BLOCK C, SHENNAN GARDEN, WEST SHENNAN ROAD,
NANSHAN DISTRICT, SHENZHEN, GUANGDONG PROVINCE, 518000 PR
CHINA
TEL: N/A FAX: N/A
Narrative report
This refers to a type of report whose format is different from that of a
standard report. Such type of report is provided when:
v
Information obtained is insufficient for compiling a standard report.
v
The enquired co has been out of business or its business address has
been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its
credit standing.
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
The registered telephone number of the subject in the local AIC, 0755-26617952,
was never answered during the past days. Exhausting our efforts, we were unable
to find its other telephone numbers in various information sources, including
the internet, yellow pages and telecom companies.
SC’s registration details are shown as below:
INCORPORATION DATE : july 8, 2005
REGISTRATION NO. : 440301103157523
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. zhao jianjun (CHAIRMAN)
REGISTERED CAPITAL : CNY 20,000,000
TURNOVER :
CNY 164,622,000 (AS OF DEC. 31, 2006)
EQUITIES :
CNY 3,043,000 (AS OF DEC. 31, 2006)
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 July 8, 2005.
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 development,
technology consultation, purchasing and selling of network equipment, electronic
products, telecommunication products, software and hardware of electronic
components; other domestic commerce; supplying and selling of commodities
(excluding the products privileged, prohibited or franchised); importing and
exporting business.
SC is not known to host website of its own at present.
Changes of its registered information:
Date of change Item Before the change After the change
2007-4-12 Registered capital CNY 3,000,000 CNY 20,000,000
2008-1-25 Registration No. 4403012181915 440301103157523
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhao Jiaxing 50
Zhao Jianjun 50
Legal representative,
chairman and general manager:
Mr. Zhao Jianjun, ID # 340104196810221531, 40 years old with university
education.
SC is not known to have any subsidiary at present.
China Merchants Bank Shenzhen Overseas Chinese City Sub-branch
AC#：7083661710006
Relationship: Normal.
Balance Sheet
Unit: CNY’000
as
of Dec. 31, 2005 as
of Dec. 31, 2006
Cash & bank 7,764 4,927
Inventory 0 0
Accounts
receivable 5,204 16,855
Prepaid expenses 0 223
Other receivables 0 60
Other current
assets 0 2,967
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Current assets 12,968 25,032
Fixed assets 0 340
Fixed assets net
value 0 323
Projects under
construction 0 0
Long-term
investments 0 0
Intangible and
other assets 51 39
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Total assets 13,019 25,394
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Short loans 0 0
Accounts payable 9,098 29,626
Other Accounts
payable 3 76
Advances from
clients 2,702 3,932
Taxes unpaid -1,416 -11,409
Welfares payable 18 126
Other current
liabilities 0 0
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Current
liabilities 10,405 22,351
Long term
liabilities 0 0
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Total liabilities 10,405 22,351
Shareholders
equities 2,614 3,043
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Total liabilities
& equities 13,019 25,394
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Income Statement
Unit: CNY’000
as
of Dec. 31, 2005 as of
Dec. 31, 2006
Turnover 9,418 164,622
Cost of goods sold 9,121 159,465
Sales expense 598 3,457
Management expense 74 366
Finance expense 11 896
Operation Profit -386 437
Less: profit tax 0 8
Net profit -386 429
Important Ratios
as
of Dec. 31, 2005 as of
Dec. 31, 2006
*Current ratio 1.25 1.12
*Quick ratio 1.25 1.12
*Liabilities to assets 0.80 0.88
*Net profit margin (%) -4.10 0.26
*Return on total assets (%) -2.96 1.69
*Inventory /Turnover ×365 / /
*Accounts receivable/Turnover ×365 202 days 37 days
*Turnover/Total assets 0.72 6.48
* Cost of goods sold/Turnover 0.97 0.97
PROFITABILITY: AVERAGE
The turnover of SC appears average in 2005 and fairly good in 2006.
SC’s net profit margin appears fair in 2005 and average in 2006.
SC’s return on total assets appears fair in 2005 and average in 2006.
SC’s cost of goods sold is fairly high, comparing with its turnover.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level in both 2 years.
SC’s quick ratio is maintained in a fairly good level in both 2 years.
SC has no inventory in both 2 years.
The accounts receivable of SC appears fairly large.
SC has no short-term loan in both 2 years.
SC’s turnover is in a fairly good level, comparing with the size of its
total assets.
LEVERAGE: FAIR
The debt ratio of SC is high.
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Fairly stable.
SC is unable to be contacted at present, and caution is advised related
to dealings with persons claiming to represent such an entity.
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%)