MIRA
INFORM REPORT
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Report Date : |
13.08.2013 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN KE LI TONG ELECTRONICS CO., LTD. |
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Registered Office : |
3605B, Seg Electronic Market, North Of Huaqiang Road, Futian District, Shenzhen City, Guangdong Province 518031 PR |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
22.04.1999 |
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Com. Reg. No.: |
440301103729669 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject engaged in domestic trade mainly include: tablet PC, laptop, all in one computer, keyboard for table PC, etc. |
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No. of Employees : |
20 |
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 : |
Slow but 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, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 2012 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 under 8% for 2012. An economic slowdown in Europe contributed to
China's, and is expected to further drag Chinese growth in 2013. 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 KE LI
TONG ELECTRONICS CO., LTD.
3605B, SEG ELECTRONIC MARKET, NORTH OF
HUAQIANG ROAD,
FUTIAN DISTRICT, SHENZHEN CITY, GUANGDONG
PROVINCE 518031 PR CHINA
TEL: 86 (0) 755-26030882/26030282 FAX: 86 (0) 755-26030338
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 22, 1999
REGISTRATION NO. : 440301103729669
REGISTERED LEGAL FORM : LIMITED LIABILITY COMPANY
STAFF STRENGTH :
20
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 2,900,000 (AS OF DEC. 31, 2012)
EQUITIES :
CNY 4,720,000 (AS OF DEC. 31, 2012)
PAYMENT : AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.1271 = 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 Ren Min Bi
Note: The given name belongs to SC’s related company
registered in Hong Kong, and SC’s complete name should be the heading one. SC is
also known as Shenzhen Keleiton Electronics Co., Ltd.
The and telephone number belong to SC’s related company
“Shenzhen Kechuangda Micro Electronics
SC was registered as a Limited liabilities company at local
Administration for Industry & Commerce (AIC-The official body of issuing
and renewing business license) on Apr. 22, 1999.
Company Status: Limited liabilities co. This
form of business in PR China is defined as a legal person. No more than
fifty shareholders contribute its registered capital jointly. 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 CNY 30,000. 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 30% 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.
SC’s registered business scope includes purchasing and selling of
electronic products and other domestic trade (excluding the special items need
permitted by law, regulation and State Council); import and export business
(excluding items prohibited by law, regulation and State Council, able to
operating the limited items after obtained the permit)
SC is mainly
engaged in domestic trade.
Ms. Luo
Chaohong has been legal representative,
chairman and general manager of SC since 2011.
SC is known to have approx. 20 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shenzhen. Our checks reveal that SC
rents the total premise about 300 square meters.
www.keleiton.com
The design is professional and the content is well organized. At present it is
in English version.
E-mail: sales3@keleiton.com
(misa, manager)
sales8@keleiton.com (lillian)
sales9@keleiton.com (beng)
sales6@keleiton.com (andy)
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
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Legal representative |
Wu Xiancai |
Wang Miqin |
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Shareholders and shareholdings |
Wu Xiancai90% Lin Yanjin10% |
Wu Xiancai40% Wang Miqin60% |
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Registration no. |
4403012020481 |
440301103729669 |
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Legal representative |
Wang Miqin |
Wu Xiancai |
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Registered capital |
CNY 500,000 |
CNY 5,000,000 |
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Paid-up capital |
CNY 500,000 |
CNY 5,000,000 |
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Shareholdings |
Wu Xiancai40% Wang Miqin60% |
Wu Xiancai80% Wang Miqin20% |
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Legal representative |
Wu Xiancai |
Luo Chaohong |
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Shareholders and shareholdings |
Wu Xiancai80% Wang Miqin20% |
Liang Qinghong40% Luo Chaohong60% |
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name % of Shareholding
Liang Qinghong 40
Luo Chaohong 60
l
Legal representative, chairman and general manager:
Ms. Luo Chaohong is currently
responsible for the overall management of SC.
Working Experience(s):
From 2011 to present Working in SC as legal representative,
chairman and general manager.
Also working in Shenzhen Kechuangda Micro Electronics Co.,
Ltd. (深圳市科创达微电子有限公司) as director.
l
Supervisor:
Liang Qinghong
SC is mainly
engaged in domestic trade.
SC’s products
mainly include: tablet PC, laptop, all in one computer, keyboard for table PC,
etc.
SC sources its
materials 100% from domestic market. SC sells 100% of its products in domestic market.
The buying terms
of SC include Check, T/T and Credit of 30-60 days. The payment terms of SC
include Check, T/T, and Credit of 30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
Shenzhen Kechuangda Micro Electronics Co., Ltd.
Registration number: 440301102977906
Legal representative: Liu Changjin
Registered capital: CNY 10,000,000
Legal form: Limited Liabilities Company
Incorporation date: July 11, 2002
Ke Li Tong Electronics Co., Limited (Hong Kong)
BR No.: 1614900
Incorporation date: June 10, 2011
Legal form: Private
Etc.
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.
Huaxia Bank Shenzhen Yitian Road Sub-branch
AC#：10857000000122984
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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As
of Dec. 31, 2012 |
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10 |
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Inventory |
200 |
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Accounts receivable |
1,200 |
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Advances to suppliers |
0 |
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Other receivables |
6,010 |
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Other current assets |
0 |
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------------------ |
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Current assets |
7,420 |
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Fixed assets-net
value |
0 |
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Other assets |
0 |
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------------------ |
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Total assets |
7,420 |
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============= |
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Short loans |
0 |
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Accounts payable |
1,570 |
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Advances from
clients |
10 |
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Accrued payroll |
10 |
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Taxes payable |
10 |
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Other payable |
1,100 |
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Other current
liabilities |
0 |
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Current
liabilities |
2,700 |
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Long term liabilities |
0 |
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Total
liabilities |
2,700 |
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Equities |
4,720 |
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Total
liabilities & equities |
7,420 |
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Income Statement
Unit: CNY’000
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As of Dec. 31,
2012 |
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Turnover |
2,900 |
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Cost of goods
sold |
2,540 |
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Taxes and
additional of main operation |
10 |
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Sales expense |
0 |
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Management expense |
540 |
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Finance expense |
0 |
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Profit before
tax |
-190 |
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Less: profit tax |
0 |
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Profits |
-190 |
Important Ratios
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as of Dec. 31, 2012 |
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*Current ratio |
2.75 |
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*Quick ratio |
2.67 |
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*Liabilities
to assets |
0.36 |
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*Net profit
margin (%) |
-6.55 |
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*Return on
total assets (%) |
-2.56 |
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*Inventory /Turnover
×365 |
25 days |
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*Accounts
receivable/Turnover ×365 |
151 days |
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*Turnover/Total
assets |
0.39 |
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* Cost of
goods sold/Turnover |
0.88 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in 2012.
l
SC’s net profit margin is fair in 2012.
l
SC’s return on total assets is fair in 2012.
l
SC’s cost of goods sold is average, comparing with
its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a fairly
good level in 2012.
l
SC’s quick ratio is maintained in a fairly good
level in 2012.
l
The inventory of SC appears average in 2012.
l
The accounts receivable of SC appears average in
2012.
l
SC has no short-term loan in 2012.
l
SC’s turnover is in a poor level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is low in 2012.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC is considered small-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
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|
1 |
Rs.94.21 |
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Euro |
1 |
Rs.81.03 |
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 |
-- |
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.