MIRA
INFORM REPORT
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Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
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Name : |
SKYSOUND ELECTRONIC CO., LTD. |
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Registered Office : |
4/F, Factory B7, Huachuang Animation
Industrial Park, Jinshan Village, Shiqi Town, Panyu
District, Guangzhou, Guangdong Province, 511450 Pr |
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Country : |
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Date of Incorporation : |
09.07.2013 |
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Com. Reg. No.: |
440126000374201 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject will be mainly engaged in
processing and selling of loudspeaker |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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.
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Source : CIA |
Company name & address
SKYSOUND
ELECTRONIC CO., LTD.
4/F, Factory b7,
huachuang Animation Industrial Park,
jinshan village,
shiqi town, panyu district,
guangzhou,
Guangdong PROVINCE, 511450 PR CHINA
TEL: 86 (0)
20-23880380/23880606 FAX: 86 (0)
20-23880386
EXECUTIVE SUMMARY
INCORPORATION DATE : jul. 9, 2013
REGISTRATION NO. : 440126000374201
REGISTERED LEGAL
FORM : Limited liabilities co.
CHIEF EXECUTIVE : MR. gao guorong (legal representative)
STAFF STRENGTH : 20
REGISTERED CAPITAL :
CNY 100,000
BUSINESS LINE : PROCESSING &
selling
TURNOVER : n/a
EQUITIES : n/a
PAYMENT :
NOT
YET DETERMINED
MARKET CONDITION : FAIR
FINANCIAL CONDITION : UNDETERMINED
OPERATIONAL TREND : SUBJECT TO LONGER PERIOD OF
OBSERVATION
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.07 = USD 1 AS OF 2013-12-16
Adopted
abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
Note: SC formerly used Chinese name “广州天声（中扬）科技有限公司” to propaganda, but its correct Chinese name should be the heading one.
SC was registered as a limited liabilities co. at local Administration for Industry & Commerce (AIC-The official body of issuing and renewing business license) on Jul. 9, 2013.
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 research and development of electronics, audio
equipment, and production technology; manufacturing, processing and selling: electronic
products and audio equipment. (Excluding those limited and prohibited by law,
regulations, with permit if needed).
SC has not started
its normal operation yet.
Mr. Gao Guorong
has been the legal representative of SC since Jul. 31, 2013.
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 and factory in Huachuang Animation Industrial Park of Guangzhou.
Detailed information of the premise is unspecified.
http://www.chylixing98.com/
The
design is professional and the content is well organized. At present it is both
in Chinese and English versions.
Email: hunanlixing8@126.com
SC has not started
its normal operation yet.
Changes
of its registered information are as follows:
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Date of change |
Item |
Before the
change |
After the change |
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2013-7-31 |
Legal Representative |
Li Xing |
Present one |
There is no record of litigation till now.
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Li Xing 70
Gao Yanfang 30
Legal
Representative:
Mr. Gao Guorong, in his 50’s, he is currently responsible for the
overall management of SC.
Working
Experience(s):
From Jul. 31, 2013 to present Working in SC as legal representative.
Chairman and
General Manager:
Mr. Li Xing is currently responsible for the overall and daily management of SC.
Working
Experience(s):
At present Working in SC as chairman and general manager.
SC has not started its normal operation yet.
According to SC’s staff Ms. Gao, SC will be mainly engaged in processing and
selling of loudspeaker.
SC is not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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: None in our
database.
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.
SC declined to
release its bank details.
SC was established in 2013, and has not started its normal operation
yet, so its financial reports are not available at present.
Established in 2013, SC has not started its normal operation
yet.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.10 |
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UK Pound |
1 |
Rs.101.27 |
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Euro |
1 |
Rs.85.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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.