MIRA
INFORM REPORT
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Report Date : |
01.10.2011 |
IDENTIFICATION DETAILS
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Name : |
TVT DIGITAL TECHNOLOGY CO., LTD. |
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Registered Office : |
5/F, Ce Lighting House North Block, South Zone Of Hi-Tech
Park Nanshan District, Shenzhen, Guangdong Province 518057 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.12.2004 |
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Com. Reg. No.: |
440301102772120 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling electronics and communications 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 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 and address
TVT DIGITAL TECHNOLOGY CO., LTD.
5/F, CE LIGHTING HOUSE NORTH BLOCK, SOUTH ZONE OF HI-TECH PARK NANSHAN DISTRICT, SHENZHEN, GUANGDONG PROVINCE 518057 PR CHINA
TEL: 86 (0) 755-33306001
FAX: 86 (0) 755-33306002
EXECUTIVE SUMMARY
Date of Registration : december 22, 2004
REGISTRATION NO. : 440301102772120
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 20,000,000
staff :
115
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 97,034,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 26,891,000 (AS OF DEC. 31, 2010)
WEBSITE : www.tvt.net.cn
E-MAIL :
N/A
PAYMENT :
AVERAGE
Recommended Credit Limit: UP TO USD 250,000
MARKET CONDITION : average
FINANCIAL CONDITION : stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.39 = 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 limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 440301102772120 on December 22, 2004.
SC’s Organization Code Certificate No.:
77032614-6
SC’s registered capital: cny 20,000,000
SC’s paid-in capital: cny 20,000,000
Registration Change Record:
|
Date |
Change of Contents |
Before the change |
After the change |
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Registered Capital |
CNY 1,000,000 |
CNY 3,000,000 |
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Registered Capital |
CNY 3,000,000 |
CNY 6,000,000 |
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|
Shareholder (s) (% of Shareholding) |
Huang Chao 60% Guo Lizhi 20% Liu Di 20% |
Yin Hong 37.5% Liu Di 20.0% Guo Lizhi 20.0% Feng Meixian 7.5% Huang Zitai 7.5% Huang Xiang 7.5% |
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Shareholder (s) (% of Shareholding) |
Yin Hong 37.5% Liu Di 20.0% Guo Lizhi 20.0% Feng Meixian 7.5% Huang Zitai 7.5% Huang Xiang 7.5% |
Guo Lizhi 45.0% Huang Zitai 15.0% Liu Di 40.0% |
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Registration No. |
4403012162647 |
440301102772120 |
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Registered Capital |
CNY 6,000,000 |
CNY 20,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
|
Liu Di |
40 |
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Guo Lizhi |
45 |
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Huang Zitai |
15 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Liu Di |
|
Supervisor |
Huang Chao |
RECENT DEVELOPMENT
SC has got the certificate ISO9001.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Liu Di 40
Guo Lizhi 45
Huang Zitai 15
MANAGEMENT
Liu Di , Legal Representative,
Chairman and General Manager
------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2004
to present, working in SC as legal representative, chairman and general manager
Also
as principal of TVT Digital Technology Co., Ltd. Shiyan Branch
Huang Chao , Supervisor
-----------------------------------------
Ø
Gender: M
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered business scope includes
designing, developing, manufacturing and selling electronics and communications
products, network product development, computer system integration and sales, importing and
exporting goods and technology.
SC is mainly
engaged in manufacturing and selling electronics
and communications products.
SC’s products
mainly include: cold press welder.
SC sources its materials 75% from domestic
market, and 25% from overseas market. SC sells 65% of its products in domestic market,
and 35% to overseas market, mainly USA, Europe, etc.
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. 115 staff at
present.
SC
rents an area as its operating office (the heading address), but the detailed
information is unknown. And SC has the other operating office located in Room 12HI,
Block A, Haoming Fortune Plaza, Shennan Avenue, Futian District, Shenzhen, and
SC’s factory located in Building C, Huilongda Industrial Park, Shilongzi,
Shiyan Street, Bao’an District, Shenzhen.
RELATED COMPANY
Branch:
======
TVT
Digital Technology Co., Ltd. Shiyan Branch
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Date of Registration: February 24, 2011
Registration No.: 440306105217183
Legal Form: Branch
Address:
Building C, Huilongda Industrial Park, Shilongzi, Shiyan Street, Bao’an
District, Shenzhen
Tel:
86 (0) 755-33086095/96/97/98
Fax:
86 (0) 755-33086091
Offices:
======
Beijing
Office
Tel:
86 010-62527880
Fax:
86 010-62553836
Email:
beijing@tvt.net.cn
Shanghai
Office
Tel:
86 021-32283522
Fax:
86 021-32283526
Email:
shanghai@tvt.net.cn
Guangzhou
Office
Tel:
86 020-38689477
Fax:
86 020-38689477
Email:
linyiying@tvt.net.cn
Etc.
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
The bank information
of SC is not filed in local SAIC.
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Long term investment |
0 |
0 |
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Total assets |
25,771 |
54,108 |
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------------- |
------------- |
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Long term liabilities |
0 |
0 |
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Total
liabilities |
14,839 |
27,217 |
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Equities |
10,932 |
26,891 |
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------------- |
------------- |
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Revenue |
36,845 |
97,034 |
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Profit before
tax |
5,779 |
18,756 |
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Less: profit tax |
534 |
1,735 |
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Profits |
5,245 |
17,021 |
Note: The detailed financials for Y2009 & Y2010 are not filed in
local SAIC.
Important Ratios
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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*Liabilities
to assets |
0.58 |
0.50 |
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*Net profit
margin (%) |
14.24 |
17.54 |
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*Return on
total assets (%) |
20.35 |
31.46 |
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*
Revenue/Total assets |
1.43 |
1.79 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears average in its line, and
it increased significantly in 2010.
l
SC’s net profit margin is fairly good in both
years.
l
SC’s return on total assets is fairly good in both
years.
LIQUIDITY: AVERAGE
l
SC’s revenue 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 years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Stable.
CONCLUSIONS
SC is considered medium-sized in its line with stable financial
conditions. A credit line up to USD 250,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.92 |
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|
1 |
Rs.76.52 |
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Euro |
1 |
Rs.66.64 |
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 |
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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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.