MIRA INFORM REPORT
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Report Date : |
07.12.2011 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN 3NOD ELECTRONICS CO., LTD. |
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Registered Office : |
3nod Industrial Zone, Zhongfu Road,
Tangxiachong, Songgang Town, Baoan District, Shenzhen, Guangdong Province
518105 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.17.1996 |
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Com. Reg. No.: |
440301503223370 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Manufacturing
and selling electronics |
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No. of Employees
: |
3000 Persons |
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 : |
USD 2,000,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
China |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
shenzhen 3nod electronics co., ltd.
3nod industrial zone,
zhongfu road, tangxiachong
songgang town, baoan
district, shenzhen
guangdong province
518105 PR CHINA
TEL: 86 (0)
755-86338312/29868888/29930547
FAX: 86 (0)
755-86338357/86338300
EXECUTIVE SUMMARY
Date of Registration : july 3, 1996
REGISTRATION NO. : 440301503223370
LEGAL FORM : Wholly foreign-owned enterprise
REGISTERED CAPITAL :
cny 160,680,000
staff : 3,000
BUSINESS CATEGORY :
manufacturing
Revenue : CNY 1,547,200,000 (AS OF
DEC. 31, 2010)
EQUITIES : CNY 315,830,000 (AS OF
DEC. 31, 2010)
WEBSITE : www.3nod.com.cn
E-MAIL :
sales@3nod.com.cn
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
2,000,000 (PERIODICAL REVIEW)
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
stable
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : fairly
good
EXCHANGE RATE : CNY 6.34 = USD 1
Adopted abbreviations
(As Follows)
SC – Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was
established as a wholly foreign-owned enterprise of PRC with
State Administration of Industry & Commerce (SAIC) under registration No.: 440301503223370
on July 3, 1996.
SC’s Organization Code Certificate
No.: 27925074-3
SC’s registered capital: cny 160,680,000
SC’s paid-in capital: cny 160,680,000
Registration Change Record:
|
Date |
Change
of Contents |
Before the change |
After the change |
|
|
Registered Capital |
CNY 5,000,000 |
CNY 15,000,000 |
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|
Registered Capital |
CNY 15,000,000 |
CNY 22,700,000 |
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|
Registered Capital |
CNY 22,700,000 |
CNY 30,300,000 |
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Registration No. |
319726 |
440301503223370 |
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|
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Registered Capital |
CNY 30,300,000 |
CNY 131,680,000 |
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|
Registered Capital |
CNY 131,680,000 |
CNY 160,680,000 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
3NOD Digital Group Co., Ltd.
(Korea) |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Liu Zhixiong |
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Director |
Wang Lizong |
|
Li Yuping |
|
|
Supervisor |
Kang Qinjun |
RECENT DEVELOPMENT
SC has got the certificate ISO 9001.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
3NOD Digital Group Co., Ltd. (Korea) 100
==========================
3NOD Digital Group Co., Ltd. (Public, KDQ: 900010) is a holding company engaged in the
management of subsidiaries and affiliated companies. As of March 31, 2011, the
Company had three subsidiaries, including Shenzhen 3NOD Electronics and 3 Nod
Group Co., Ltd. (HK), and 16 sub-subsidiaries. Through its subsidiaries and
affiliated companies, the Company manufactures multimedia speakers, digital
speakers, home theaters, computer cases, power supplies, notebook computers,
automobile electronic products and others. The Company established a new wholly
owned subsidiary in China, engaged in the international trade and investment
business, on March 31, 2011.
MANAGEMENT
Liu
Zhixiong, Legal Representative, Chairman and General Manager
-----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age:
Ø
Qualification: Master
Ø
Working experience (s):
From 1996 to present, working in SC as legal representative,
chairman and general manager
Also working in Shenzhen 3Nod Investment Development Co., Ltd. and Shenzhen 3Nod
Resource Investment Co., Ltd. as legal representative and chairman
Director
-----------
Wang Lizong
Li Yuping
Supervisor
---------------
Kang Qinjun
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and
selling plastic products, metal mold, speakers, amplifier, small household
electrical appliances, communication products, intelligent home furnishing
products, computer and peripheral equipment, electronic components, lighting
products, indoor and outdoor lighting, street lamps and matching device.
SC is
mainly engaged in manufacturing and selling electronics.
Brand:
3NOD, SP, CG
SC’s
products mainly include:
Multi-Media
Audio/Video
Computer & PC Peripheral
Home Automatic
LED & New Energy
Auto Electronics
SC sources its materials 90% from domestic
market, and 10% from overseas market. SC sells 65% of its products in domestic
market, and 35% to overseas market.
The
buying terms of SC include T/T, L/C and Credit of 30-60 days. The payment terms
of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 3,000 staff
at present.
SC
owns an area as its operating office and factory, but the detailed information
is unknown.
RELATED COMPANY
SC is known to have 4
subsidiaries at present:
===================================
¨
Shenzhen
3Nod Auto Electronics Technology Co., Ltd.
¨
Shenzhen
3Nod SP Electronics Co., Ltd.
¨
Shenzhen
3Nod Investment Development Co., Ltd.
¨
Shenzhen
3Nod Resource Investment Co., Ltd.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
Basic Bank:
Bank
of China Shenzhen Branch Xinsha Sub-branch
AC#: 821700225108093014
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
|
370,450 |
|
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Accounts
receivable |
220,350 |
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Advances to
suppliers |
0 |
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Other receivable |
41,470 |
|
Inventory |
81,660 |
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Non-current
assets within one year |
0 |
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Other current
assets |
24,810 |
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|
------------------ |
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Current assets |
738,740 |
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Fixed assets |
113,790 |
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Construction in
progress |
0 |
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Long-term
prepaid expenses |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
97,750 |
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------------------ |
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Total assets |
950,280 |
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============= |
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Short-term loans |
309,220 |
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Notes payable |
0 |
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Accounts payable |
254,460 |
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Wages payable |
0 |
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Advances from
clients |
0 |
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Other payable |
88,960 |
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Other current
liabilities |
-130,980 |
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------------------ |
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Current
liabilities |
521,660 |
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Non-current
liabilities |
112,790 |
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------------------ |
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Total
liabilities |
634,450 |
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Equities |
315,830 |
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------------------ |
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Total
liabilities & equities |
950,280 |
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|
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2010 |
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Revenue |
1,547,200 |
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Cost of sales |
1,437,110 |
|
Sales expense |
26,560 |
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Management expense |
51,380 |
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Finance expense |
3,110 |
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Profit before
tax |
41,800 |
|
Less: profit tax |
4,700 |
|
37,100 |
Important Ratios
=============
|
|
As
of Dec. 31, 2010 |
|
*Current ratio |
1.42 |
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*Quick ratio |
1.26 |
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*Liabilities
to assets |
0.67 |
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*Net profit
margin (%) |
2.40 |
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*Return on
total assets (%) |
3.90 |
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*Inventory /
Revenue ×365 |
20 days |
|
*Accounts
receivable/ Revenue ×365 |
52 days |
|
*
Revenue/Total assets |
1.63 |
|
* Cost of
sales / Revenue |
0.93 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is fairly high, comparing
with its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
The short-term loans of SC appear large.
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
LEVERAGE:
FAIRLY GOOD
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Stable.
CONCLUSIONS
SC is considered large-sized in its line with stable financial
conditions. The large amount of short-term loans may be a threat to SC’s
financial condition. A credit line up to USD 2,000,000 is recommended upon a
periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.39 |
|
UK Pound |
1 |
Rs.80.20 |
|
Euro |
1 |
Rs.68.92 |
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 |
|
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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NB |
New Business |
---- |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.