%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image002.jpg){kind=small}
MIRA INFORM REPORT
|
Report Date : |
06.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
BARCO VISUAL (BEIJING) ELECTRONICS CO., LTD |
|
|
|
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Registered Office : |
No. 16, Changsheng Road, Changpingyuan, Zhongguancun Science & Technology Park, Changping District, Beijing 102200 Pr |
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Country : |
China |
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|
|
|
Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
21.02.2003 |
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Com. Reg. No.: |
110000410180638 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
manufacturing and selling electronic display device and parts |
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|
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|
No. of Employees
: |
204 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200,000 |
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|
|
|
Status : |
Satisfactory |
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|
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
BARCO
VISUAL (BEIJING) ELECTRONICS CO., LTD.
NO. 16, CHANGSHENG ROAD,
CHANGPINGYUAN, ZHONGGUANCUN SCIENCE & TECHNOLOGY PARK, CHANGPING DISTRICT,
BEIJING 102200 PR CHINA
TEL: 86 (0)
10-80101166*1887 FAX: 86
(0) 10-80115602
EXECUTIVE SUMMARY
INCORPORATION DATE : FEB. 21, 2003
REGISTRATION NO. : 110000410180638
REGISTERED LEGAL FORM : Wholly foreign-owned
enterprise
STAFF STRENGTH :
204
REGISTERED CAPITAL : EUR 15,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 616,630,000 (AS OF DEC. 31,
2010)
EQUITIES : CNY 41,660,000 (AS OF
DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 200,000 (PERIODICAL REVIEW)
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.31= 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
%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image015.gif){kind=small}
SC was registered as a wholly foreign-owned enterprise at
local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on Feb. 21, 2003.
Company Status: Wholly foreign-owned enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s
registered business scope includes manufacturing electronic display device and
integrated circuit products; computer information management system and
software products; developing computer information management system and
software products; developing electronic display equipment, integrated circuit
products; advisory service of self-made commodities; leasing self-owned
products; selling self-made commodities; importing and exporting electronic
display equipment, related software and technologies; wholesaling electronic
display device, software; repairing and maintenance services of electronic
display device and parts; technical supporting and technical advisory business.
SC is mainly
engaged in manufacturing and selling electronic display device and parts.
Mr. Johan
Philtjens is legal representative and chairman of SC at present.
SC is known to
have approx. 204 employees at present.
SC is currently operating at the above stated address, and this address houses
its operating office and factory in Beijing. Our
checks reveal that SC owns the total premise about 20,000 square meters.
%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image016.gif){kind=small}
http://www.barco.com.cn/ It
includes the information on SC and related companies. The design is
professional and the content is well organized. At present the web site is in
Chinese, English, Japanese and other versions.
Email: xianglong.cui@barco.com
%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image017.gif){kind=small}
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image018.gif){kind=small}
MAIN SHAREHOLDERS:
Name
% of Shareholding
(Hong Kong) Barco Visual Electronics Company
Limited 100
Registration No. : 0869210
Legal Form: Private
%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image019.gif){kind=small}
l
Legal representative and Chairman:
Mr. Johan Philtjens, with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and chairman.
Also working in (Hong Kong) Barco Visual Electronics Company Limited as chairman.
l
General manager:
Mr. Li Jun, ID# 110108641221603, born in 1964. He is currently
responsible for the daily management of SC.
Working Experience(s):
At present Working in SC as general manager.
Note: The given contact person Edward is working in SC at present.
%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image020.gif){kind=small}
SC is mainly
engaged in manufacturing and selling electronic display device and parts.
SC’s products mainly include LED display products, etc.
SC sources its
materials 50% from domestic market and 50% from overseas market. SC sells 20%
in domestic market and 80% 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 declined to release its major suppliers and clients.
%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image021.gif){kind=small}
According to http://www.barco.com.cn/
Barco
Chengdu Office
Add:
11F-B-3, Chuanxin Mansion, No. 18, Section 2, South People's Road, Chengdu,
Sichuan
Tel:
+86-28-86200561
Fax:
+86-28-86200560
Barco
Guangzhou Office
Add:
Room 1207, R & F Center, No.10, Hua Xia Road, Zhu Jiang Xing Cheng,
Guangzhou
Tel:
+86-20-38771237
Fax:
+86-20-38772787
Barco
Taiwan Office
Add:
11F, No. 102, Guangfu S. Rd., Taipei City 106, Taiwan
Tel:
+886-2-87710699
Fax:
+886-2-87710606
CFG
& Barco (Beijing) Electronics Company Limited
Add: No.
16 Changsheng Road, Science & Technology Park, Changping District, Beijing,
P.R.C.
Tel:
+86-10-80101166
Fax:
+86-10-80105852
Etc.
%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image022.gif){kind=small}
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.
%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image023.gif){kind=small}
SC’s accountant
refused to release the bank details, so we can’t confirm the given banking information
“The Royal Bank of Scotland China Co., Ltd., Changping District Beijing Swift:
Abnacnshbjg No. 787-7007760 China”
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Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Cash & bank |
18,120 |
48,810 |
|
Inventory |
53,740 |
175,050 |
|
Accounts
receivable |
53,160 |
155,550 |
|
Advances to
suppliers |
6,430 |
18,360 |
|
Other
receivables |
5,590 |
-44,630 |
|
To be
apportioned expense |
520 |
530 |
|
Other current
assets |
10 |
20 |
|
|
------------------ |
------------------ |
|
Current assets |
137,570 |
353,690 |
|
Fixed assets net
value |
24,780 |
24,110 |
|
Long term
investment |
0 |
0 |
|
Projects under
construction |
0 |
190 |
|
Intangible and
other assets |
6,950 |
13,370 |
|
|
------------------ |
------------------ |
|
Total assets |
169,300 |
391,360 |
|
|
=========== |
=========== |
|
Short loan |
48,580 |
28,340 |
|
Accounts payable |
104,210 |
275,150 |
|
Advances from
clients |
80 |
26,240 |
|
Withdraw the
expenses in advance |
24,690 |
26,780 |
|
Taxes payable |
-1,890 |
-14,680 |
|
Other Accounts
payable |
1,050 |
730 |
|
Other current
liabilities |
1,360 |
7,060 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
178,080 |
349,620 |
|
Long term
liabilities |
0 |
80 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
178,080 |
349,700 |
|
Equities |
-8,780 |
41,660 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
169,300 |
391,360 |
|
|
=========== |
=========== |
Income Statement
Unit: CNY’000
|
|
As
of Dec. 31, 2010 |
|
Turnover |
616,630 |
|
Cost of goods sold |
516,060 |
|
Sales expense |
21,700 |
|
Management expense |
7,210 |
|
Finance expense |
-2,800 |
|
Profit before tax |
50,450 |
|
Less: profit tax |
0 |
|
Profits |
50,450 |
Important
Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
0.77 |
1.01 |
|
*Quick ratio |
0.47 |
0.51 |
|
*Liabilities
to assets |
1.05 |
0.89 |
|
*Net profit
margin (%) |
/ |
8.18 |
|
*Return on
total assets (%) |
/ |
12.89 |
|
*Inventory
/Turnover ×365 |
/ |
104 days |
|
*Accounts
receivable/Turnover ×365 |
/ |
93 days |
|
*Turnover/Total
assets |
/ |
1.58 |
|
* Cost of goods
sold/Turnover |
/ |
0.84 |
%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image025.gif){kind=small}
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears fairly good in 2010.
l
SC’s net profit margin is fairly good in 2010.
l
SC’s return on total assets is fairly good in 2010.
l
SC’s cost of goods sold is average, comparing with
its turnover in 2010.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a fair
level in 2009 and in a normal level in 2010.
l
SC’s quick ratio is maintained in a fair level.
l
The inventory of SC appears average in 2009 but
fairly large in 2010.
l
The accounts receivable of SC appears average in
2009 but fairly large in 2010.
l
The short-term loan of SC appears average.
l
SC’s turnover is in an average level, comparing
with the size of its total assets in 2010.
LEVERAGE: FAIR
l
The debt ratio of SC is too high in 2009, and high
in 2010.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
%20ELECTRONICS%20CO%20,%20LTD%20-%20165023%2006-Jan-2012_files/image026.gif){kind=small}
SC is considered medium-sized in its line with fairly stable financial
conditions. The large amount of inventory and accounts receivable could be a
threat to SC’s financial condition. The given credit amount would appear to be
beyond SC’s capacities, while a credit line up to USD 200,000 would appear to
be within SC’s capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
UK Pound |
1 |
Rs.82.33 |
|
Euro |
1 |
Rs.68.19 |
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.