MIRA INFORM REPORT
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Report Date : |
22.02.2011 |
IDENTIFICATION DETAILS
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Name : |
JULONG EDUCATIONAL TECHNOLOGY CO., LTD. |
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Registered Office : |
4/F, Building T3, South Hi-Tech Industrial Park, Nanshan District, Shenzhen, Guangdong Province, 518057 Pr |
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Country : |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
15.06.1998 |
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Com. Reg. No.: |
440301102865915 |
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Legal Form : |
Shares Limited Co. |
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Line of Business : |
manufacturing and selling multimedia rooms products |
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 200,000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
JULONG
EDUCATIONAL TECHNOLOGY CO., LTD.
4/F, BUILDING T3, SOUTH HI-TECH INDUSTRIAL
PARK, NANSHAN DISTRICT, SHENZHEN, GUANGDONG
PROVINCE, 518057 PR CHINA
TEL: 86 (0) 755-26745100 FAX: 86 (0) 755-26745262
EXECUTIVE SUMMARY
INCORPORATION DATE : JUN. 15, 1998
REGISTRATION NO. :
440301102865915
STAFF STRENGTH :
150
REGISTERED CAPITAL : CNY 36,600,000
BUSINESS LINE : MANUFACTURING & SELLING
TURNOVER :
CNY 68,209,000 (AS OF DEC. 31,
2008)
EQUITIES :
CNY 31,195,000 (AS OF DEC. 31, 2008)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHNAGE RATE :
CNY6.58 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
JPY –
Note: SC’s complete address should be the heading one. The
given tel. & fax number (040-23222033 & 040-23227774) could not be
connected.
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 Jun. 15, 1998, and
has been under present legal form since Aug. 28, 2001.
This
form of business in PR China is defined as a legal person. Its registered
capital is divided into shares of equal par value and the co. raises
capital by issuing share certificates by promotion or by public offer.
Shareholders bear limited liability to the extent of shareholding, and the
co. is liable for its debts only to the extent of its total assets. The co
has independent property of legal person and enjoys property rights of
legal person. The characteristics of the shares limited co. are as follows: The
establishment of the co. requires at least two promoters and no more than
200, half of whom shall be domiciled in The
minimum registered capital of a co. is CNY The
board of directors must consist of five to nineteen directors. If the co. raises capital by public offer,
the promoters must not subscribe less than 35% of the total shares. the
promoters’ shares are restricted to transfer- within one year of the offer. A
state-owned enterprise that is restructured into a shares limited co. must
comply with the conditions & requirements specified under the law &
administrative rule.
SC’s registered
business scope includes purchasing and selling computer & its software,
industrial automation control system products and communication products (excluding
franchise, controlled products); developing, purchasing and selling computer
information system integration (excluding limited items); developing industry
(specific programs to be separately applied for); technology developing,
manufacturing and selling whiteboard & its software, multimedia teaching
networks equipment, multimedia classrooms central control system equipment,
video and audio booth, other multimedia classrooms equipment, hair
straighteners, rollers, hair drier, electric heater; importing & exporting
commodities & technologies (excluding distribution and franchise,
controlled products).
SC is mainly
engaged in manufacturing and selling multimedia rooms products.
Mr. Jin Yushan has been legal representative and chairman of SC since 2005.
SC is known to have approx. 150 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. Our checks
revealed that SC’s rents the total premise with an area of about 8,000 square
meters.
www.china-iwb.com The design is professional and the content is
well organized. At present the website is in five different languages versions,
including English and Chinese versions.
Honors:
High and New
SC’s product “IPBoard” was rewarded as “top
Etc.
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
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|
Registration No. |
27956093-6 |
4403011029022 |
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Registered
capital |
CNY 500,000 |
CNY 1,000,000 |
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|
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Registered
capital |
CNY 1,000,000 |
CNY 5,000,000 |
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Registered
capital |
CNY 5,000,000 |
CNY 7,500,000 |
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Company name |
Shenzhen Julong
Computer Co., Ltd. |
Julong Educational Technology Co., Ltd. |
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Chinese name |
深圳市巨龙科教高技术有限公司 |
深圳市巨龙科教高技术股份有限公司 |
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Legal form |
Limited
liabilities Co. |
The present one |
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Registered
capital |
CNY 7,500,000 |
CNY 30,170,000 |
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Legal
representative |
Jin Yi |
The present one |
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Registration No. |
4403011029022 |
The present one |
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Registered
capital |
CNY 30,170,000 |
CNY 33,187,000 |
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Registered
capital |
CNY 33,187,000 |
The present amount |
Note: SC’s Chinese name changed on Aug. 28, 2001, but its English still
remains the same.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Shenzhen Julong Digital Technology Co., Ltd. 46.2442
Shenzhen Creative Investment Group Co., Ltd. 4.5337
Shenzhen Small & Medium Enterprise
Credit Guarantee Center Co., Ltd. 1.6607
Shenzhen Water resources Investment Co.,
Ltd. 1.1071
Jin Yushan 7.8142
Zhu Jian 7.5973
Xing Qi 6.1492
Jin Yi 7.2540
Other 8 individuals 17.6396
Shenzhen Julong Digital Technology Co., Ltd.
=================================
Registration No.: 440301104162828
Legal representative: Zhao Baodong
l
Legal Representative and chairman:
Mr. Jin Yushan, ID# 440301510603411, born in 1951 with university
degree. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2005 to present Working
in SC as legal representative and chairman.
l
General manager:
Mr. Zhu Jian, ID# 420106196705184938, born 1967 with university
education. He is currently responsible for the daily management of SC.
Working Experience(s):
At present Working in SC
as general manager.
l
Directors:
Wang Lu ID# 110102196309262764
Zhu Jian ID# 420106196705184938
Song Yi
Yan Hongyu ID# 22010419680719802X
l
Supervisors:
Chen Jianyun
Lu Hongwei
Gan Deyi ID# 440301196512045416
SC is mainly
engaged in manufacturing and selling multimedia rooms products.
SC’s services mainly include:
IPBOARD: IPBOARD User
Manual V7.0, IPBOARD User
Manual V6.3, Wireless
Module for IPBOARD, Specification JL-9000B-77,
Specification JL-9000B-85,
Specification JL-9000B-101;
Ultra-IPBOARD: ULTRA IPBOARD
User Manual;
IPTablet: IPTablet User
Manual;
IPVote: IPVote User
Manual;
JL-Visualizer: User Manual
for JL-Digital Visualizer;
Etc.
SC sources its materials 100% from domestic market. SC sells 70% of its products
in domestic market, and 30% to overseas market, mainly
Europe and
The buying terms of SC include Check, T/T 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 refused to release information about its customers
and suppliers.
According to SC’s
website, SC has the following offices:
=========================================
Shenzhen Office
Etc.
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 Shenzhen Futian Sub-branch
AC#
3584148610001
Relationship:
Balance Sheet
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Unit: CNY’000 |
as of Dec. 31,
2008 |
as of Dec. 31,
2007 |
|
17,559 |
10,538 |
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Inventory |
12,976 |
11,783 |
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Accounts receivable |
6,401 |
5,902 |
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Other receivables |
4,351 |
3,380 |
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Advance to suppliers |
450 |
38 |
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Prepaid expenses |
0 |
0 |
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Other current assets |
0 |
0 |
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----------------- |
----------------- |
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Current assets |
41,737 |
31,641 |
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Fixed assets net value |
12,106 |
12,675 |
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Long-term investment |
1,800 |
0 |
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Project under construction |
0 |
43 |
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Intangible assets |
6,735 |
2,506 |
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Long-term deferred expenses |
2,000 |
1,237 |
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Deferred tax assets |
592 |
592 |
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Other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
64,970 |
48,694 |
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=========== |
=========== |
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Short loans |
9,600 |
11,300 |
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Accounts payable |
11,765 |
14,513 |
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Advance from customers |
0 |
2,144 |
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Accrued Wages |
958 |
1,378 |
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Other payables |
988 |
680 |
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Taxes payable |
3,214 |
1,323 |
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Other current liabilities |
0 |
9 |
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------------------ |
------------------ |
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Current liabilities |
26,525 |
31,347 |
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Long-term liabilities |
7,250 |
0 |
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Other long-term liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total liabilities |
33,775 |
31,347 |
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Equities |
31,195 |
17,347 |
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------------------ |
------------------ |
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Total liabilities & equities |
64,970 |
48,694 |
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Income Statement
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Unit: CNY’000 |
as of Dec. 31,
2008 |
as of Dec. 31,
2007 |
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Turnover |
68,209 |
51,287 |
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Cost of goods sold |
32,984 |
27,554 |
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Sales expense |
11,905 |
11,352 |
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Management expense |
7,496 |
3,782 |
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Finance expense |
1,295 |
561 |
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Profit before
tax |
15,832 |
8,393 |
|
Less: profit tax |
1,984 |
489 |
|
Profits |
13,848 |
7,904 |
Note: SC has not lodged the latest annual returns
in the local registry, hence no up-to-date detailed financial information could
be provided.
Important
Ratios
=============
|
|
As
of Dec. 31, 2008 |
As
of Dec. 31, 2007 |
|
*Current ratio |
1.57 |
1.01 |
|
*Quick ratio |
1.08 |
0.63 |
|
*Liabilities
to assets |
0.52 |
0.64 |
|
*Net profit
margin (%) |
20.30 |
15.41 |
|
*Return on
total assets (%) |
21.34 |
16.23 |
|
*Inventory
/Turnover ×365 |
70
days |
84
days |
|
*Accounts
receivable/Turnover ×365 |
35
days |
43
days |
|
*Turnover/Total
assets |
1.05 |
1.05 |
|
* Cost of
goods sold/Turnover |
0.48 |
0.54 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears average, and it was
increasing in 2008.
l
SC’s net profit margin is fairly good in both 2
years.
l
SC’s return on total assets is fairly good in both
2 years.
l
SC’s cost of goods sold is low, comparing with its
turnover in both 2 years.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in both 2 years.
l
SC’s quick ratio is maintained in a fair level in
2007 but in a normal level in 2008.
l
The inventory of SC is fairly large in both 2
years.
l
The accounts receivable of SC is average in both 2
years.
l
The short-term loan of SC is average in both 2
years.
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 average in both 2 years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC is considered medium-sized in its line with fairly stable financial
conditions. The large amount of inventory could be a threat to SC’s financial
conditions. A credit line up to USD 200,000 appears to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.11 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.61.70 |
RATING EXPLANATIONS
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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 |
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.