MIRA
INFORM REPORT
|
Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
TIANCHANG FUDA ELECTRONICS CO.,LTD |
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Registered Office : |
Xinhua St, Qinlan Town, Tianchang City, Chuzhou City,
Anhui Province, Zip Code 239341 |
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Country : |
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Date of Incorporation : |
06.01.2004 |
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Com. Reg. No.: |
341181000011752 |
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Legal Form : |
Limited Liabilities
Company |
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Line of Business : |
Manufacture
and sales of electronic products including electric wires, etc. |
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No. of Employees : |
500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
TIANCHANG
FUDA ELECTRONICS CO.,LTD
Currency in this report is Chinese Yuan unless otherwise stated.
Exchange Rate: 1 USD=6.36 Chinese Yuan
"--"in this report indicates "unavailable" due to insufficient information or "no comments"
ORDER
INFORMATION
|
name |
Tiangchang Fuda Electron Co Ltd. |
|
address |
North Jin San Road The West Zone,Tianchang City, Anhui |
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tel. |
0086 550 762 3116, 3104 |
Notes:
1. The English name provided in the order is
not accurate. The accurate one is as listed in the report.
2.
The
address provided in the order isn’t accurate. SC’s accurate address is as
listed in the report.
3. The telephone (86 550 7623116) provided in the order
is SC’s previous telephone number and is no longer used.
EXECUTIVE
SUMMARY
|
DATE OF establishment |
Jan 6th, 2004 |
|
Aic Registration No. |
341181000011752 |
|
REGISTERED LEGAL FORM |
limited liabilities
company |
|
REGISTERED CAPITAL |
1,020,000.00 |
|
main BUSINESS |
Manufacture and sales of electronic products
including electric wires, etc. |
|
employees |
500 |
|
import and export permits |
yes |
|
EXCHANGE RATE |
1 Usd=6.36CNY (JUN.19th, 2012) |
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Registered Address |
Xinhua St, Qinlan Town, Tianchang City, Chuzhou City, Anhui Province |
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Zip Code |
239341 |
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Business Address |
North Jingsan Rd, Xicheng Dist, Tianchang City,
Chuzhou City, Anhui Province |
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Zip Code |
239399 |
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Telephone |
86 550 7623104/7623103 |
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Fax |
86 550 7623105 |
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|
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SIC Code (China) |
3931 manufacture of wires and cables |
REGISTRATION
|
Name (Chinese) |
天长市富达电子有限公司 |
|
Name (English) |
TIANCHANG FUDA ELECTRONICS CO.,LTD |
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Date of Establishment |
Jan 6th, 2004 |
|
Registry |
Administration Bureau of Industry and Commerce –
Tianchang City |
|
Legal Representative |
Lin Wenlu (林文禄) |
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AIC Registration Number |
341181000011752 |
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Previous Registration Number |
3411812309177 |
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Registered Legal Form |
LIMITED LIABILITIES COMPANY |
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Registered Capital |
1,020,000.00 CNY |
|
Operating Duration |
Jan 6th, 2004 to -- |
|
Business Scope |
Processing, manufacture and
sales of TV display mainboard, line output, remote control, plastic parts,
etc; Manufacture, processing and
sales of electric wire, small hardware, electronic accessories; Import and export of
self-produced goods and technologies. (excluding those forbidden by
government. |
|
Changes in Registration |
N/A |
Limited liabilities
co.
This
form of business in PR China is defined as a legal person. Its registered
capital is contributed jointly by at least two shareholders and no more than
fifty. Shareholders bear limited liability to the extent of shareholding, and
the co. is liable for its debts only to extent of its total assets. The
characteristics of this form of co. are as follows:
Upon
the establishment of the co., an investment certificate is issued to the each
of shareholders.
The
board of directors is comprised of three to thirteen members.
The
minimum registered capital for a co. is listed as follows:
-manufacturing
co. : RMB 500,000.00
-trading
&wholesaling co. : RMB 500,000.00
-retailing
co. : RMB 300,000.00
-consultancy
& service co. : RMB 100,000.00
Shareholders
may take their capital contributions in cash or by means of tangible assets or
intangible assets such as industrial property and non-patented technology.
Cash
contributed by all shareholders must account for at least 50% of the registered
capital while contribution by intangible assets must not exceed 20% of the
registered capital.
Existing
shareholders have pre-exemption right to purchase shares of the co. offered for
sale by the other shareholders and to subscribe for the newly increased
registered capital of the co.
REGISTRATION
INFO: AVAILABLE
FINANCIAL
REPORTS: AVAILABLE
FIELD
INVESTIGATION
1.
SC’s business income comes mainly
from electric wire including enameled wire, holding wire, degaussing line, etc.
Its products are sold both directly and indirectly to its end customers. SC’s
clients are mainly domestic and international manufacture enterprises, traders
and distributors of televisions, computer display, monitors, etc. The industry
of electric wire is an industry with fierce competition. There are a lot of
similar enterprises in the local place as SC’s competitors. With long history,
SC has accumulated certain amount of customers and enjoys certain popularity in
both domestic and international market. Generally speaking, SC’s
competitiveness is above average in the local industry.
2.
Tianchang City, SC’s location, is
an important supporting processing and manufacture base of Yangtze River Delta
Economic Zone. It is China’s manufacture base of instruments, electric cable,
electronic components, toys, petroleum, etc. In 2011, the total production
value of Tianchang City was 18.5 billion CNY, increasing 19% year/year; the per
Capita GDP was about USD 4,600, increasing by USD 1,100 from last year; the
total industrial output value reached 60.2 billion CNY, increasing 49.8%
year/year. As a domestic owned enterprise dealing with manufacture and sales of
electronic products including ordinary electric wire, etc, SC shares no
favorable policies provided by the local government.
SHAREHOLDERS
AND SHARES
As indicated in
the following table:
|
Shareholder |
Capital
Subscribed |
Percentage |
|
Lin Wenshu |
720,000.00 |
70.6% |
|
Chen Dasong |
100,000.00 |
9.8% |
|
Lin Wenlu |
200,000.00 |
19.6% |
|
Total |
1,020,000.00 |
100% |
|
Shareholder |
Way
of Investment |
Paid-up
Percentage |
|
Lin Wenshu |
Capital
|
100% |
|
Chen Dasong |
Capital
|
100% |
|
Lin Wenlu |
Capital
|
100% |
Background of major shareholder
|
Name |
Lin Wenshu |
|
Gender |
Male |
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Date of birth |
Jan 25th, 1968 |
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Name |
Chen Dasong |
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Gender |
Male |
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Date of birth |
May 8th, 1956 |
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Name |
Lin Wenlu |
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Gender |
Male |
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Date of birth |
Nov 11th, 1962 |
AFFILIATE(S)
No affiliates of subject company is found after checking.
MANAGEMENT
|
Name |
Lin Wenlu |
|
Gender |
Male |
|
Title |
Legal Representative |
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Date of birth |
Nov 11th, 1962 |
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Education |
-- |
|
Working experience |
Over 8 years’ working experience and over 8
years’ management experience. |
NUMBER OF EMPLOYEES
Employees:
500
Management
Staff: 40
Recent
recruitment: No
BANKERS INFORMATION
|
Bank name |
Agricultural Bank of China – Qinlan (Tianchang)
Sub-branch |
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Account No. (CNY) |
-- |
|
Tel. |
86 550 7811136 |
|
Comment |
The investigated person confirmed SC opened an
account in the bank, but refused to disclose its account information due to
the bank secrecy. |
OFFICE
FACILITIES
|
Geographic Location |
North Jingsan Rd,
Xicheng Dist, Tianchang City, Chuzhou City, Anhui Province |
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Area |
28,000 square meters |
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Environment |
Industrial Zone. |
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Traffic condition |
Convenient (surrounded by Aojisi Avenue, Tiancha Rd, Tianma Rd, etc) |
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Purpose |
Office/Warehouse/Factory |
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Property Ownership |
Unknown |
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Other address |
-- |
WEBSITE
|
Website |
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e-mail |
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Operation status |
Operational |
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Copyright |
Copyright reserved by SC. |
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Language |
Chinese and English. |
TRADEMARKS
|
Total trademark |
1 |
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Registration No. |
5440113 |
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Registration date |
June 26th, 2006 |
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Image |
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PATENTS
After
checking with the State Intellectual Office, no patent of SC was found.
MAIN
PRODUCTS & SERVICES
|
Main business |
Manufacture and sales of electronic products
including electric wire, etc. |
|
Products and services |
SC mainly deals with manufacture and sales
of electronic products including electric wire, etc. Its main products
include colour display, enameled wire, electronic wire, plug cord, holding
wire, remote control, patch cord, audio cable, DC power line, etc. SC’s
products are mainly used for electronic products including televisions,
computer display, car televisions, monitors, etc. |
|
Picture of specific products |
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|
Annual production capacity |
1,000,000.00 holding lines per month. |
|
Plants and equipments |
Coiling machine, wire twisting machine,
enamelling machine, voltage tester, etc. |
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Awards & Honors |
Creditworthy enterprise of 2009-2010;
Civilized Enterprise, etc. |
|
Certificates / licenses |
National CQC Certification (2004); UL, VDE,
SGS Certification (2005); ISO-9001 Quality System Certification (2007); CCC
Certification (2008), etc. |
SALES
INFORMATION
|
Domestic sales |
30% |
|
Regions |
All
over China |
|
Major domestic clients |
HISENSE GROUP
CO. LTD, etc. |
|
Competitors |
QINGDAO CHANGCHENG
ELECTRIC CABLE CO. LTD; JIANGSU ZHONGTIAN TECHNOLOGY CO. LTD; SICHUAN STAR
CABLE CO. LTD; HENGTONG OPTIC-ELECTRIC CO. LTD, etc. |
|
Payment terms |
Prompt payment; on credit |
|
Export |
70% |
|
Regions |
Japan,
Asia, Southeast Asia, Africa, Europe, etc. |
|
Major overseas clients |
International
electronic manufacturers, etc. |
|
Payment terms |
L/C, T/T |
|
SC’s products are mainly sold
to domestic and international manufacture enterprises of electronics, home
appliances, etc. With long history, it has developed certain amount of
customers. |
|
|
The above information was
confirmed by SC’s employee |
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PURCHASE
INFORMATION
|
Main Commodities Purchased |
Conductor, copper, plastics, wire twisting
machine, production equipments, etc. |
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Number of Major Suppliers |
About 5 |
|
Region |
Domestic: 100% Import: 0 % |
|
Major suppliers |
SHANGHAI NIUCHUANG
MACHINERY ELECTRONICS CO. LTD; KUNSHAN TAIZHENG CABLE MACHINERY CO. LTD, etc. |
|
Main Terms of Payment |
Local: Prompt payment; on
credit |
|
SC’s conductors, copper, etc are mainly purchased
domestically. Its suppliers are mainly from local cities in Jiangsu Province
including Kunshan City, Suzhou city, etc. |
|
|
The above information was confirmed by SC’s
employee |
|
CREDIT
|
Name of supplier |
KUNSHAN
TAIZHENG CABLE MACHINERY CO. LTD |
|
Main commodities and service supplied |
Wire twisting machines, etc. |
|
Interviewee |
Manager Zhong of Sales Department. |
|
Telephone of Interviewee |
86 13812930229 |
|
Payment comment |
The investigated person confirmed SC is one
of their clients. They usually use prepayment settlement method and SC’s
payment status is good. |
LITIGATION
RECORDS
After checking with China
Court organization, the local court website and other major searching websites,
no litigation record related to SC in the latest three years is found.
OTHER
ADVERSE MEDIA INFORMATION
N/A
FINANCE
According to SC’s Ms Xu, SC’s business scale
is above average in the local industry. Its annual turnover of 2011 was about
0.1 billion CNY. The amount of orders has decreased since the beginning of
2012. SC’s turnover of 2012 is predicated to decrease a little.
Important
Ratios:
|
|
2010
Industry Financial Indices |
|
Return on net
assets (%) |
6.64 |
|
Return on total
assets (%) |
2.57 |
|
Net profit
margin (%) |
2.30 |
|
Turnover of
total assets |
1.16 |
|
Turnover of
current assets |
1.55 |
|
Turnover days of
account receivable |
87.26 |
|
Inventory
turnover days |
53.04 |
|
Asset liability
ratio (%) |
61.74 |
|
Current ratio |
1.29 |
|
Quick ratio |
1.02 |
Analysis of financial indicator
SC mainly deals
with manufacture and sales of enamelled wires, plug cord, holding wires, etc
and belongs to electric wire and electric cable manufacture industry. As an
important component of electrician industry, electric wire and electric cable
industry has a bright prospect. Established in 2004, SC has accumulated certain
industry and product manufacture experience. With strong manufacture capacity,
SC has certain industry competitiveness. Tianchang City, SC’s location is a
manufacture base of instruments, electric cable and electronic components. It
has perfect electronic industry manufacture system and its overall economy
environment is satisfactory. SC’s manufacture and sales activities are usually
done according to its clients’ requests.
INDUSTRY
PROFILE
Industry
SIC Code (China): 3931 manufacture of wires
and cables
Description:
manufacture of wires and cables that are used in electricity transmission,
voice, words and graphic transmission and lighting etc.
Status Quo & Trend
The
industry of wire and cable is the second largest industry next to motor
industry in China. Its output is about 1/4 of Chinese electrical industry. With
wide variety and wide using in many industries (electric power, construction,
communication, manufacture etc.), wire and cable industry is closely related to
every section of national economy. The total output of wire and cable in China
has exceeded USA and China ranks No.1 in the industry. As the fast development
of wire and cable industry in China, new enterprises are emerging continuously
and the general level of the industry is improved. In addition, the sustainable
and fast growing of Chinese economy also provides large opportunity for the
development of the industry.
|
Name of association |
Membership of subject (Yes/No) |
|
China Electric Wire and Electric Cable Association |
No |
|
Electric
Wire and Electric Cable Industry Association |
No |
|
Japan Electric Wire Industry Association |
No |
GENERAL
COMMENTS
Established
in January, 2004, SC mainly deals with manufacture and sales of electric wire
products including electric wire products including degaussing coil, plug cord,
holding sires, etc that are used in televisions, computer displays, car
televisions, monitors, etc. SC’s products are sold both domestically and
internationally. With long history, it has accumulated certain amount of stable
customers and cooperates well with some suppliers. With individual
shareholders, SC’s financing capacity and risk resisting capacity need to be
further promoted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.86 |
|
UK Pound |
1 |
Rs.87.93 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.