MIRA INFORM REPORT
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Report Date : |
17.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN CHINO-E COMMUNICATION CO., LTD. |
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Registered Office : |
Chino-E Industrial Building, Niulanqian, Longhua Town
Baoan District, Shenzhen, Guangdong Province 518109 Pr |
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Country : |
China |
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Date of Incorporation : |
22.10.1997 |
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Com. Reg. No.: |
440306104085110 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing and selling telephones, fax machines, electronic products, mobile phones, wireless terminal, etc. |
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No. of Employees : |
800 |
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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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 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has
moved from a closed, centrally planned system to a more market-oriented one
that plays a major global role - in 2010 China became the world's largest
exporter. Reforms began with the phasing out of collectivized agriculture, and
expanded to include the gradual liberalization of prices, fiscal
decentralization, increased autonomy for state enterprises, creation of a
diversified banking system, development of stock markets, rapid growth of the
private sector, and opening to foreign trade and investment. China has
implemented reforms in a gradualist fashion. In recent years, China has renewed
its support for state-owned enterprises in sectors it considers important to
"economic security," explicitly looking to foster globally
competitive national champions. After keeping its currency tightly linked to
the US dollar for years, in July 2005 China revalued its currency by 2.1%
against the US dollar and moved to an exchange rate system that references a
basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the
renminbi against the US dollar was more than 20%, but the exchange rate
remained virtually pegged to the dollar from the onset of the global financial
crisis until June 2010, when Beijing allowed resumption of a gradual
appreciation. The restructuring of the economy and resulting efficiency gains
have contributed to a more than tenfold increase in GDP since 1978. Measured on
a purchasing power parity (PPP) basis that adjusts for price differences, China
in 2010 stood as the second-largest economy in the world after the US, having
surpassed Japan in 2001. The dollar values of China's agricultural and
industrial output each exceed those of the US; China is second to the US in the
value of services it produces. Still, per capita income is below the world
average. The Chinese government faces numerous economic challenges, including:
(a) reducing its high domestic savings rate and correspondingly low domestic
demand; (b) sustaining adequate job growth for tens of millions of migrants and
new entrants to the work force; (c) reducing corruption and other economic
crimes; and (d) containing environmental damage and social strife related to
the economy's rapid transformation. Economic development has progressed further
in coastal provinces than in the interior, and by 2011 more than 250 million
migrant workers and their dependents had relocated to urban areas to find work.
One consequence of population control policy is that China is now one of the
most rapidly aging countries in the world. Deterioration in the environment -
notably air pollution, soil erosion, and the steady fall of the water table,
especially in the North - is another long-term problem. China continues to lose
arable land because of erosion and economic development. The Chinese government
is seeking to add energy production capacity from sources other than coal and
oil, focusing on nuclear and alternative energy development. In 2010-11, China
faced high inflation resulting largely from its credit-fueled stimulus program.
Some tightening measures appear to have controlled inflation, but GDP growth
consequently slowed to near 9% for 2011. An economic slowdown in Europe is
expected to further drag Chinese growth in 2012. Debt overhang from the
stimulus program, particularly among local governments, and a property price
bubble challenge policy makers currently. The government's 12th Five-Year Plan,
adopted in March 2011, emphasizes continued economic reforms and the need to
increase domestic consumption in order to make the economy less dependent on
exports in the future. However, China has made only marginal progress toward
these rebalancing goals.
Source
: CIA
Company name and address
SHENZHEN CHINO-E COMMUNICATION CO., LTD.
CHINO-E INDUSTRIAL BUILDING, NIULANQIAN, LONGHUA TOWN
BAOAN DISTRICT, SHENZHEN, GUANGDONG PROVINCE 518109 PR CHINA
TEL: 86 (0) 755-28194913
FAX: 86 (0) 755-28194132
EXECUTIVE SUMMARY
Date of Registration : october 22, 1997
REGISTRATION NO. : 440306104085110
LEGAL FORM : Shares limited company
REGISTERED CAPITAL : cny 110,000,000
staff :
800
BUSINESS CATEGORY : manufacturing
Revenue :
n/a (AS
OF DEC. 31, 2011)
EQUITIES :
n/a (AS
OF DEC. 31, 2011)
WEBSITE : www.chino-e.com
E-MAIL :
n/a
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.30 = 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 shares limited company of PRC with State Administration of Industry &
Commerce (SAIC) under registration No.: 440306104085110.
SC’s Organization Code Certificate No.:
27939209-8
SC’s Tax No.: 440306279392098
SC’s registered capital: cny 110,000,000
SC’s paid-in capital: cny 110,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
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Shareholder (s) (% of Shareholding) |
Shi Lisun
2.10% Zhang Guolin
3.08% Ma Zibin
5.14% Wang Qingyun
86.60% Chen Jili
3.08% |
Ma Zibin
5.14% Wang Zhouming 18.00% Zhang Guolin
3.08% Shi Lisun
2.10% Chen Jili
3.08% Wang Qingyun
68.60% |
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Registered Capital |
CNY 22,000,000 |
CNY 24,149,300 |
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Shareholder (s) (% of Shareholding) |
Ma Zibin 5.14% Wang Zhouming 18.00% Zhang Guolin 3.08% Shi Lisun 2.10% Chen Jili 3.08% Wang Qingyun
68.60% |
Wang Qingyun
62.49% Lai Qishou
0.45% Shi Lisun
1.91% Zhang Guolin
2.81% Wang Zhouming 16.40% Wu Tianxiang 0.45% Zhang Kaishi 3.50% Zheng Jinjian 4.50% Chen Jili 2.81% Ma Zibin 4.68% |
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Registered Capital |
CNY 24,149,300 |
CNY 96,000,000 |
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Registered Capital |
CNY 96,000,000 |
cny 110,000,000 |
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Shareholder (s) (% of Shareholding) |
Wang Qingyun 62.49% Lai Qishou 0.45% Shi Lisun 1.91% Zhang Guolin 2.81% Wang Zhouming 16.40% Wu Tianxiang 0.45% Zhang Kaishi 3.50% Zheng Jinjian 4.50% Chen Jili
2.81% Ma Zibin
4.68% |
Shi Lisun 1.6696% Chen Jili
2.4487% Wang Zhouming 14.3110% Zhang Guolin
2.4487% Wu Tianxiang
0.3927% Dongfang Fuhai (Wuhu) Equity Investment Fund
(Limited Partnership) 4.0668% Zhang Kaishi
3.0546% Wanjiang (Wuhu) Logistic Industry Investment
Fund (Limited Partnership) 6.7466% Dongfang Fuhai (Wuhu) No. 2 Equity
Investment Fund (Limited Partnership) 1.9138% Zheng Jinjian 3.9273% Wang Qingyun
54.5408% Ma Zibin 4.0867% Lai Qishou
0.3927% |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Shi Lisun |
1.6696 |
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Chen Jili |
2.4487 |
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Wang Zhouming |
14.3110 |
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Zhang Guolin |
2.4487 |
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Wu Tianxiang |
0.3927 |
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Dongfang Fuhai (Wuhu) Equity Investment Fund
(Limited Partnership) |
4.0668 |
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Zhang Kaishi |
3.0546 |
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Wanjiang (Wuhu) Logistic Industry Investment
Fund (Limited Partnership) |
6.7466 |
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Dongfang Fuhai (Wuhu) No. 2 Equity Investment
Fund (Limited Partnership) |
1.9138 |
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Zheng Jinjian |
3.9273 |
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Wang Qingyun |
54.5408 |
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Ma Zibin |
4.0867 |
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Lai Qishou |
0.3927 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and
General Manager |
Wang Qingyun |
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Director |
Zhou Hanjun |
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Kong Weimin |
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Ma Zibin |
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Zheng Jinjian |
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Shi Lisun |
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Chen Jili |
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Zhang Yi |
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Wang Zhouming |
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Supervisor |
Peng Weizhou |
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Zhang Guolin |
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Han Xuesong |
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Wang Ruiting |
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Zhang Kaishi |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Shi Lisun 1.6696
Chen Jili 2.4487
Wang Zhouming 14.3110
Zhang Guolin 2.4487
Wu Tianxiang 0.3927
Dongfang Fuhai (Wuhu) Equity Investment Fund
(Limited Partnership) 4.0668
Zhang Kaishi 3.0546
Wanjiang (Wuhu) Logistic Industry Investment
Fund (Limited Partnership) 6.7466
Dongfang Fuhai (Wuhu) No. 2 Equity
Investment Fund (Limited Partnership) 1.9138
Zheng Jinjian 3.9273
Wang Qingyun 54.5408
Ma Zibin 4.0867
Lai Qishou 0.3927
MANAGEMENT
Wang
Qingyun , Legal Representative, Chairman and General Manager
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Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman and general manager
Director
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Zhou Hanjun
Kong Weimin
Ma Zibin
Zheng Jinjian
Shi Lisun
Chen Jili
Zhang Yi
Wang Zhouming
Supervisor
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Peng Weizhou
Zhang Guolin
Han Xuesong
Wang Ruiting
Zhang Kaishi
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and
selling telephones, fax machines, electronic products, mobile phones, wireless
terminal, computer software / hardware, network terminal products, video
communications terminal products, data products, and digital products, and
import & export business; technology development and sales of electronic
device & microelectronic devices; domestic commerce (excluding the products
previlaged, prohibited or franchised); industry development (projects need to be
reported for authorization); and ordinary road freight.
SC is mainly
engaged in manufacturing and selling telephones, fax machines, electronic
products, mobile phones, wireless terminal, etc.
SC’s products mainly include: telephones,
fax machines, electronic products, mobile phones, wireless terminal, etc.
SC sources its materials 100% from domestic
market, mainly Shenzhen. SC sells 50% of its products in domestic market, and
50% to overseas market, mainly Southeast Asia, etc.
The buying terms
of SC include Check, T/T and Credit of 30-60 days. The payment terms of SC
include T/T, L/C and Credit of 30-60 days.
Staff & Office:
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SC is known
to have approx. 800 staff at
present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
RELATED COMPANY
SC
is not known to have any subsidiary at present.
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
SC’s financials are not filed in local SAIC, and SC also refused to
release the details.
CONCLUSIONS
SC is considered medium-sized in its line with 15 business history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.82 |
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1 |
Rs.84.96 |
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Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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.