MIRA INFORM REPORT
|
Report Date : |
14.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHENZHEN GUOWEI ELECTRONICS CO., LTD. |
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Registered Office : |
No. 3038 Luosha Road, Liantang Industrial Zone, Luohu District,
Shenzhen, Guangdong Province, 518004 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
16.07.1991 |
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Com. Reg. No.: |
440301501122735 |
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Legal Form : |
Chinese-Foreign Equity Joint
Venture Enterprise |
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Line of Business : |
manufacturing and selling fixed-line phones, mobile phones
and other communication terminal equipment |
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No. of Employees
: |
320 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 GUOWEI
ELECTRONICS CO., LTD.
NO. 3038 LUOSHA ROAD, LIANTANG INDUSTRIAL ZONE, LUOHU DISTRICT,
SHENZHEN, GUANGDONG PROVINCE, 518004 PR CHINA
TEL: 86 (0) 755-25736666 FAX:
86 (0) 755-25732288
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 16, 1991
REGISTRATION NO. :
440301501122735
REGISTERED LEGAL FORM :
CHINESE-FOREIGN EQUITY JOINT VENTURE ENTERPRISE
STAFF STRENGTH : 320
REGISTERED CAPITAL :
CNY 117,760,000
BUSINESS LINE : MANUFACTURING
TURNOVER : CNY 660,350,000 (AS OF DEC. 31, 2010)
EQUITIES : CNY -81,710,000 (AS OF DEC. 31,
2010)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : C.O.D.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND :
fair
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.35 = USD 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
Note: the given mobile phone no. 86 13420982755 belongs to Mr. Ben Wang, an employee of SC’s export department.
SC was registered as a Chinese-foreign equity joint venture enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on July 16, 1991.
Company Status: Chinese-foreign equity joint venture
enterprise This form of business in PR
China is defined as a legal person. It is a limited co. jointly invested by
one or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of
capital investment. The investing parties exercise business management,
share profits and bear all risks and liabilities of the co. together. The
equity joint venture law requires that foreign party contribute not less
than 25% of the registered capital, with no maximum. The investing parties
are free to agree on method of profit distribution and liabilities bearing
according to the proportion of capital investment. Each investing parties
contributes funds, tangible assets, technology & etc. The board of
directors excises the high authority. The joint venture usually has a
limited duration of 10 to 50 years. Enterprise with large investment, long
construction periods, low investment returns, introducing of advanced
technology & advanced technology products that have good competition
position in international market may extend beyond the 50 years limit.
SC’s registered
business scope includes processing, manufacturing every kind of telephone; add
manage items: manufacturing and managing digital Chinese display and number
display beep pager, household power transformer; selling add managing products
100% to overseas market; add: manufacturing GSM mobile communication phone,
selling add products 60% to overseas market; add: manufacturing and managing
notebook computer, selling add managing products 100% to overseas market.
SC is
mainly engaged in manufacturing and selling fixed-line phones, mobile phones
and other communication terminal equipment.
Mr.
Liang Xiguang is legal representative and chairman of SC at present.
SC is known to have approx. 320 employees 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. SC’s accountant refused to release the detail information the total
premise.
http://www.sgwglobal.com/
The
design is professional and the content is well organized. At present it is in
English version.
Email: enquiries@sgwglobal.com
Changes of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
2007-11 |
Company Name |
Shenzhen Top Guowei Electronics Co., Ltd. |
Shenzhen Guowei Electronics
Co., Ltd. |
|
Registration No. |
102259 |
440301501122735 |
|
|
2011-3 |
Registered capital |
CNY 64,000,000 |
Present amount |
|
Shareholdings |
Xiwei
Electronic (China) Co., Ltd. (in Chinese Pinyin) (Hong Kong) 46%; Shenzhen Smart
Victory Investment Co., Ltd. 54% |
Present ones |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Xiwei Electronic (China) Co.,
Ltd. (in Chinese Pinyin) (Hong Kong) 25
Shenzhen Smart Victory Investment Co., Ltd. 75
Shenzhen Smart Victory Investment Co., Ltd.
=================================
Registration No. `:
440301102766883
Registered Capital :
CNY 10,000,000
l
Legal representative and chairman:
Mr. Liang Xiguang, Hong Kong citizen. He is
currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as chairman and legal representative.
*Officials:
=======
Name Title
Liang Jianru Vice
Chairman
Tan Fang Director
Malcolm Paton Director
Zhu Xianjiu Supervisor
SC is
mainly engaged in manufacturing and selling fixed-line phones, mobile phones
and other communication terminal equipment.
Main Products:
Landline (Corded,
Cordless)
Internet Devices
(PC free)
Colombo Netbook
DECT Photo Viewer
Bluetooth DECT
Audio
SC sources its materials 80%
from domestic market, and 20% from overseas market. SC sells 40% of its
products in domestic market, and 60% 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.
Note: SC’s management declined to release its main clients and suppliers.
SC is known to have the following branch:
Shenzhen Guowei Electronics Co., Ltd. Guanlan Branch
Registration
No.: 440306506061872
According to the above website, SC is known to have the following
related companies:
SGW
Electronics Limited (Hong Kong)
Add.:
Unit 20-21, 12/F, Goldfield Industrial Centre, 1 Sui Wo Road, Shatin, Hong Kong
Tel:
+852 2947 0272
Fax:
+852 2947 0271
SGW
(Europe) Ltd
Add.: 67
Maltings Place, 169 Tower Bridge Road, London SE1 3LJ, United Kingdom
Tel: +44
(0) 20 7403 0201
Fax: +44
(0) 20 7403 8797
SGW
Meizhou Co., Ltd
Add.:
AD1 Section, Economic Development Area, Dongsheng Industrial District, Meizhou,
Guangdong, China
Tel: +86
(753) 2299777
Fax: +86
(753) 2244777
Australian
Associate Office
Add.:
SGW Australia, P.O. Box 697, Bayswater, Victoria 3153, Australia
Tel:
+61(0) 419 346 898
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.
Shanghai Pudong
Development Bank Shenzhen Branch
AC#: N/A
Relationship:
Normal
Balance Sheet
Unit: CNY’000
|
|
as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
|
Cash & bank |
9,330 |
5,840 |
|
Inventory |
116,010 |
64,570 |
|
Accounts
receivable |
67,990 |
60,190 |
|
Advances to
supplies |
0 |
0 |
|
Other
receivables |
43,800 |
29,180 |
|
Subsidies
receivable |
11,550 |
0 |
|
Prepaid expenses |
1,410 |
150 |
|
Other current
assets |
10 |
0 |
|
|
------------------ |
------------------ |
|
Current assets |
250,100 |
159,930 |
|
Fixed assets net
value |
73,000 |
135,390 |
|
Projects under construction |
5,950 |
22,770 |
|
Long-term
investments |
600 |
6,100 |
|
Intangible and
other assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Total assets |
329,650 |
324,190 |
|
|
============= |
============= |
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Short loans |
104,930 |
96,860 |
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Accounts payable |
76,260 |
51,380 |
|
Advances from
customers |
0 |
0 |
|
Employee
pay payable |
2,290 |
2,150 |
|
Taxes payable |
-720 |
-7,530 |
|
Other Accounts
payable |
214,440 |
263,040 |
|
Accrued expenses |
0 |
0 |
|
Other
current liabilities |
0 |
0 |
|
|
----------------- |
----------------- |
|
Current
liabilities |
397,200 |
405,900 |
|
Long term
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
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Total
liabilities |
397,200 |
405,900 |
|
Shareholders equities |
-67,550 |
-81,710 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
329,650 |
324,190 |
|
|
============= |
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
|
Turnover |
274,180 |
660,350 |
|
Cost of goods sold |
246,020 |
605,410 |
|
Taxes
and additional of main operation |
100 |
460 |
|
Income
from other operations |
670 |
6,190 |
|
Sales expense |
7,040 |
16,430 |
|
Management expense |
39,290 |
42,090 |
|
Finance expense |
4,740 |
6,460 |
|
Non-operating
income |
200 |
140 |
|
Non-operating expense |
170 |
0 |
|
Profit before
tax |
-22,290 |
-14,160 |
|
Less: profit tax |
0 |
0 |
|
Profits |
-22,290 |
-14,160 |
Important Ratios
=============
|
|
as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
|
*Current ratio |
0.63 |
0.39 |
|
*Quick ratio |
0.34 |
0.23 |
|
*Liabilities
to assets |
1.20 |
1.25 |
|
*Net profit
margin (%) |
-8.13 |
-2.14 |
|
*Return on total
assets (%) |
-6.76 |
-4.37 |
|
*Inventory
/Turnover ×365 |
155 days |
36 days |
|
*Accounts
receivable/Turnover ×365 |
91 days |
33 days |
|
*Turnover/Total
assets |
0.83 |
2.04 |
|
* Cost of
goods sold/Turnover |
0.90 |
0.92 |
PROFITABILITY:
FAIR
l
The turnover of SC appears fairly good in 2009 and
it increased greatly in 2010.
l
SC’s net profit margin is fair in both years.
l
SC’s return on total assets is fair in both years.
l
SC’s cost of goods sold is fairly high in both
years, comparing with its turnover.
LIQUIDITY: POOR
l
The current ratio of SC is maintained in a poor
level in 2010.
l
SC’s quick ratio is maintained in a poor level.
l
The inventory of SC appears large in 2009 but
average in 2010.
l
The accounts receivable of SC appears average in
both years.
l
SC’s short-term loan appears large in both years.
l
SC’s turnover is in a fair level in 2009 and in a
fairly good level in 2010, comparing with the size of its total assets.
LEVERAGE: POOR
l
The debt ratio of SC is too high.
l
The risk for SC to go bankrupt is high.
Overall financial
condition of the SC: Fair.
SC is considered medium-sized in its line with fair financial conditions.
The large amount of short loans should be a threat to SC’s financial condition.
Credit should be extended under guarantee, and C.O.D. is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.40 |
|
UK Pound |
1 |
Rs.83.32 |
|
Euro |
1 |
Rs.70.44 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
---- |
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.