MIRA
INFORM REPORT
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Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
LINAK (SHENZHEN) ACTUATOR SYSTEMS LTD |
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Registered Office : |
Building B, |
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Country : |
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Date of Incorporation : |
05.04.2005 |
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Com. Reg. No.: |
440306503381528 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacture and Sales of Transmission Systems. |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
Linak (Shenzhen) Actuator Systems 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 |
Linak (Shenzhen) Actuator Systems Ltd |
|
address |
6/F North Block H-2 Eastern Industrial Park Overseas Chinese City No 1
Xiangshan East Road Nanshan District Shenzhenguangdong Province PR |
|
tel. |
0086-755-86106639 |
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fax |
0086-755-86106990 |
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e-mail |
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|
website |
-- |
|
contact person |
MR BENT JENSEN |
|
other information |
BANKER: CHINA MERCHANTS BANK |
Notes:
1. The
address provided in the order is SC’s previous address. SC’s present address is
as listed in the report.
2. The contact person (MR BENT JENSEN) provided in the order is SC’s legal
representative.
3. SC’s staff refused to confirm the banker information
provided in the order and also refused to disclose SC’s banker information due
to the company secrecy. Hence its banker information can’t be provided in the
report.
4. Due to recent government intervention in the AIC
systems, credit reports of some regions could be impacted for a certain period.
For companies registerd in Guangdong, financial information couldn’t be
obtained.
EXECUTIVE
SUMMARY
|
DATE OF establishment |
APR 5th, 2005 |
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Aic Registration No. |
440306503381528 |
|
REGISTERED LEGAL FORM |
limited liabilities
company |
|
REGISTERED CAPITAL |
USD 815,000.00 |
|
main BUSINESS |
Manufacture and sales of transmission
systems. |
|
employees |
120 |
|
import and export permits |
yes |
|
EXCHANGE RATE |
1 Usd=6.36 CNY (June.19th, 2012) |
|
Registered Address |
Building B, Shanghe Industrial Park, Nanchang Rd, Xixiang Avenue,
Bao’an Dist, Shenzhen City, Guangdong Province. |
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Zip Code |
518126 |
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Business Address |
Building B, Shanghe Industrial Park, Nanchang Rd, Xixiang Avenue,
Bao’an Dist, Shenzhen City, Guangdong Province. |
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Zip Code |
518126 |
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Telephone |
86 755 86106756 & 86106639 |
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Fax |
86 755 86106990 |
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SIC Code (China) |
3552 Manufacture of wheel gear, transmission components and drive
parts. |
REGISTRATION
|
Name (Chinese) |
力纳克传动系统(深圳)有限公司 |
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Name (English) |
Linak (Shenzhen) Actuator Systems Ltd |
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Date of Establishment |
Apr 5th, 2005 |
|
Registry |
Administration Bureau of Industry and Commerce
–Shenzhen City |
|
Legal Representative |
Bent Jensen |
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AIC Registration Number |
440306503381528 |
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Registered Legal Form |
wholly foreign-owned enterprise |
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Registered Capital |
USD 815,000.00 |
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Operating Duration |
From Apr 5th, 2005 to Apr 5th,
2015 |
|
Business Scope |
Import, export, wholesale
and providing after sales service of transmission system products and spare
parts; Manufacture and sales of
new electromechanical components; Development, wholesale,
import, export and providing related supporting service of computer software
and hardware. |
|
Changes in Registration |
1.
June 2nd,
2005 SC’s registered address was changed to RM 2406, Shenzhen
Special Zone Press Tower, No.6008, Shennan Avenue, Futian Dist, Shenzhen
City, Guangdong Province from 21 Fl, North of Huibei Mansion, Xinzhou Rd,
Binhe Avenue, Futian Dist, Shenzhen City, Guangdong Province. 2.
Mar. 7th,
2006 SC’s registered address was changed to 6 Fl,
Building H-2, East Industrial Zone of Overseas Chinese Town, No.1, Xiangshan
East Street, Nanshan Dist, Shenzhen City, Guangdong Province. 3.
Mar 7th,
2006 SC’s registered capital was increased from USD
315,000.00 CNY to USD 815,000.00. 4.
Aug 23rd,
2010 SC’s registered address was changed to the
present address. 5.
Aug 23rd,
2010 SC’s Registration No. was changed from Qi Du Yue
Shen Zong Zi 315152 to 440306503381528. |
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.
REGISTRATION
INFO: AVAILABLE
FINANCIAL
REPORTS: AVAILABLE
FIELD
INVESTIGATION
SC’s business income comes mainly
from electric drive pusher, lifting columns, bi-motor
drivers, etc. Its sales business is usually developed directly to its end customers.
The industry SC belongs to is an industry with fierce competition. There are a
lot of similar enterprises in the local place as SC’s competitors. However,
with long history and certain business scale, SC has accumulated certain amount
of customers and enjoys certain popularity in the local industry. Generally
speaking, SC’s competitiveness is above average in the local industry.
Shenzhen City, SC’s location is the financial center,
information center, high-technology industry base and important traffic point
city of China. The strong economic strength and modern infrastructure of
Shenzhen City provide SC with satisfactory economy environment.
SHAREHOLDERS
AND SHARES
As
indicated in the following table: (Unit: USD)
|
Shareholder |
Capital
Subscribed |
Percentage |
|
LINAK A/S |
815,000.00 |
100% |
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Total |
815,000.00 |
100% |
|
Shareholder |
Way
of Investment |
Paid-up
Percentage |
|
LINAK A/S |
-- |
100% |
Background
of major shareholder
|
Name |
LINAK A/S |
|
Address |
Denmark |
AFFILIATE(S)
No affiliates of subject
company is found after checking.
MANAGEMENT
|
Name |
BENT JENSEN |
|
Gender |
Male |
|
Title |
Chairman |
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Date of birth |
-- |
|
Education |
University. |
|
Working experience |
10 to 15 years. |
NUMBER OF EMPLOYEES
Employees:
120
Management
Staff: 20
Recent
recruitment: Yes
|
Job-hunting websites |
Job title |
Number |
|
www.51job.com |
Technology R&D Engineer, Quality Engineer,
Technology Development Manager, Testing Engineer, Sales Engineer. |
6 |
BANKERS INFORMATION
N/A
OFFICE FACILITIES
|
Geographic Location |
Block B, Shanghe Industrial Park, Nanchang Road, Xixiang street,
Bao’an District, Shenzhen City, Guangdong Province. |
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Area |
12,000 square meters |
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Environment |
Suburb |
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Traffic condition |
Convenient (closed to Baoan Avenue and 107 National Road) |
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Purpose |
Office/Warehouse/Factory. |
|
Property Ownership |
Rented |
|
Previous address |
6 Fl, Building H-2, East Industrial Zone of
Overseas Chinese Town, No.1, Xiangshan East Street, Nanshan Dist, Shenzhen
City, Guangdong Province. |
WEBSITE
|
Website |
www.linak.cn |
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e-mail |
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Operation status |
Normal |
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Copyright |
Copyright reserved by SC. |
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Language |
Chinese. |
TRADEMARKS
After checking with the Trademark
Office of Chinese Administration Bureau of Industry and Commerce, no trademarks
of SC were found.
PATENTS
|
Total patents |
3 |
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Application No. |
201120283325.7 |
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Application date |
Aug.5th, 2011 |
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Patent name |
Control device of medical treatment sickbed. |
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Application No. |
201120283316.8 |
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Application date |
Aug.5th, 2011 |
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Patent name |
Battery device of medical treatment sickbed. |
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Application No. |
201110221105.6 |
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Application date |
Aug.3rd, 2011 |
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Patent name |
Rapid releasing driver. |
MAIN
PRODUCTS & SERVICES
|
Main business |
Manufacture and sales of transmission
system. |
|
Products and services |
SC mainly deals with manufacture and sales
of transmission systems. Its products include straight line push rod, lifting
columns, double motor drives, control boxes, control machines, etc. |
|
Picture of specific products |
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Annual production capacity |
-- |
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Plants and equipments |
According to SC’s staff, its production
equipments advanced which are mostly advanced. |
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Awards & Honors |
-- |
|
Certificates / licenses |
ISO 9000 International Quality Management System;
ISO 14000 International Quality Management System |
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%20ACTUATOR%20SYSTEMS%20LTD%20-%20184075%2022-Jun-2012_files/image004.jpg)
%20ACTUATOR%20SYSTEMS%20LTD%20-%20184075%2022-Jun-2012_files/image006.jpg)
SALES
INFORMATION
|
Domestic sales |
100% |
|
Regions |
All
over China |
|
Major domestic clients |
GUANGXI LIUGONG MACHINERY
CO.,LTD.; XCMG CONSTRUCTION MACHINERY CO., LTD. etc. |
|
Competitors |
NINGBO FIRST TRANSMISSION
EQUIPMENT CO., LTD.; BEIJING JINDAKAINUO TRANSMISSION EQUIMENT CO. LTD; NANJING YONGNUO TRANSMISSION EQUIPMENT CO.
LTD, etc. |
|
Payment terms |
Prompt payment; on credit |
|
SC’s products are mainly
sold in China. Its clients are mainly domestic medical equipment manufacture
enterprises, agricultural machinery manufacture enterprises, heavy machinery
manufacture enterprises, etc. |
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The above information was
confirmed by SC’s employee. |
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PURCHASE
INFORMATION
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Main Commodities Purchased |
Battery, conveying equipments, etc. |
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Number of Major Suppliers |
About 3 |
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Region |
Domestic:10 % Import: 90% |
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Major suppliers |
SHENZHEN KEHAI AUTOMATION EQUIPMENT CO. LTD;
LINAK A/S. |
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Main Terms of Payment |
Local: Prompt payment; on
credit Import: L/C, T/T |
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SC’s spare parts and equipments are mainly purchased
by its foreign shareholder LINAK A/S. SC mainly deals with assembling and
sales business. |
|
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The above information was confirmed by SC’s
employee |
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CREDIT
|
Name of supplier |
SHENZHEN KEHAI AUTOMATION
EQUIPMENT CO. LTD |
|
Main commodities and service supplied |
Logistics conveyor equipments. |
|
Interviewee |
Mr. Gao of Sales Department. |
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Telephone of Interviewee |
86 755 28054130 |
|
Payment comment |
The investigated person confirmed that SC is
one of their clients and SC’s credit 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
SC’s financial information
can’t be obtained from all available channels. According to SC’s staff, its annual
turnover in recent two years was between 0.15 billion and 0.2 billion CNY
Important Ratios:
|
|
2010 Industry Financial Indices (163*) |
|
Return on net
assets (%) |
12.47 |
|
Return on total
assets (%) |
5.83 |
|
Net profit
margin (%) |
8.06 |
|
Turnover of
total assets |
0.78 |
|
Turnover of
current assets |
1.19 |
|
Turnover days of
account receivable |
82.16 |
|
Inventory
turnover days |
99.42 |
|
Asset liability
ratio (%) |
61.73 |
|
Current ratio |
1.50 |
|
Quick ratio |
1.10 |
Analysis of financial
indicator
SC’s
electronic linear transmission equipments can be used in sectors of industry,
medicine, truck, operating platform, planter, etc. Linear transmission
equipments have become indispensable parts in many sectors. Hence SC’s products
have bright prospect and great market space. With powerful shareholders, SC’s
development risk is low.
INDUSTRY
PROFILE
Industry
SIC Code (China): 3552 Manufacture of wheel gear, transmission
components and drive parts.
Description: Manufacture of
mechanical transmission equipments that are used for power transmission,
machine conveyor, lifting heavy things, etc.
Status
Quo & Trend
The products of wheel gear, transmission
components and drive parts industry are important basic products of equipment
manufacture industry. Wheel gear, transmission components and drive parts
directly decide the performance, standard, quality and reliability of important
equipments and hosting products. They important to the development of China’s
equipment manufacture industry. From January to December in 2010, the turnover
of wheel gear and transmission system industry was 145 billion CNY, increasing
20% year/year; the annual import value was USD 9.8 billon, increasing 35%
year/year; the total export value was USD 2.2 billion, increasing 28%
year/year.
As a labour intensive industry, China’s wheel
gear, transmission components and drive parts industry has advantages in labour
price. It’s predicated that this industry will keep developing in future years.
However, the slow development of high-end products make domestic enterprises
have difficulties in competing with international enterprises.
Industry Associations
|
Name of association |
Membership of subject (Yes/No) |
|
China Mechanical General
Components Industry Association |
Not Known |
|
Guangdong
Machinery Industry Association |
Not Known |
|
Guangdong Mechanical Engineering Association |
Not Known |
GENERAL
COMMENTS
Established in April with the
registered capital of USD 815,000.00, SC is engaged in manufacture and sales of
transmission systems. With long history, SC’s business scale is gradually
expanding. In addition, SC’s shareholder LINAK A/S is the leader in linear
transmission equipments. It provides SC with strong supports in both technology
and capital. SC has accumulated certain amount of customers and enjoys certain
popularity in the local industry.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
|
1 |
Rs.88.45 |
|
Euro |
1 |
Rs.71.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
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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 |
|
<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.