MIRA INFORM REPORT
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Report Date : |
22.03.2013 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN SKYWORTH DIGITAL TECHNOLOGY CO.,
LTD. |
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Formerly Known as: |
Skyworth Digital Technology (Shenzhen) Co., Ltd. |
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Registered Office : |
14/F Block A Skyworth Building, Gaoxin Avenue 1 South, Nanshan District, Shenzhen,
Guangdong Province 518057 Pr |
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Country : |
China |
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Date of Incorporation : |
11.04.2001 |
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Com. Reg. No.: |
440301103017354 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
developing, researching, manufacturing, and
selling digital video broadcasting system series products, etc. |
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No. of Employees : |
20,000 (Including Its Branches) |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 (31.03.2012) |
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.
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Source : CIA |
Company name & address
Shenzhen
Skyworth Digital Technology Co., Ltd.
14/f block a Skyworth Building, gaoxin
avenue 1 south
nanshan district, shenzhen, guangdong
province 518057 PR CHINA
TEL: 86 (0) 755-26010018
FAX: 86 (0) 755-26010028
EXECUTIVE SUMMARY
Date of Registration : april 11, 2001
REGISTRATION NO. : 440301103017354
LEGAL FORM : Shares limited company
CHIEF EXECUTIVE : yang dongwen (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
cny 120,000,000
staff : 20,000 (including its
branches)
BUSINESS CATEGORY :
R & D & manufacturing & TRADING
Revenue : N/A (AS OF DEC. 31, 2012)
EQUITIES : N/A (AS OF
DEC. 31, 2012)
WEBSITE : www.skyworthdigital.com.cn
E-MAIL : N/A
PAYMENT : AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : average
EXCHANGE RATE : CNY 6.22 = 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
LEGAL STATUS & HISTORY
SC was
established as a shares limited company
of PRC with State Administration for Industry & Commerce (SAIC) under
registration No.: 440301103017354.
SC’s Organization Code Certificate
No.: 72713422-9
SC’s Tax No.: 440301727134229
SC’s registered capital: CNY 120,000,000
SC’s paid-in capital: CNY 120,000,000
Registration Change Record:-
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
2002-11-08 |
Company
Name |
Skyworth
Broadband technology (Shenzhen) Co., Ltd. |
Skyworth
Digital Technology (Shenzhen) Co., Ltd. |
|
Legal
Representative |
Huang
Hongsheng |
Zhang
Xuebin |
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|
2005-02-05 |
Legal
Representative |
Zhang
Xuebin |
Wang
Dianfu |
|
2007-06-05 |
Legal
Representative |
Wang
Dianfu |
Zhang
Xuebin 张学斌 |
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Registered
Capital |
USD
1,500,000 |
CNY
12,396,600 |
|
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Legal
Form |
Wholly
foreign-owned enterprise |
One-person
Limited Liabilities Company |
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Shareholder
(s) |
Skyworth
Broadband Technology Limited 100% |
Shenzhen
Skyworth-Rgb Electrnic Co., Ltd. 100% |
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|
2007-11-27 |
Legal Form |
One-person Limited Liabilities
Company |
Limited Liabilities Company |
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Registration No. |
4403011266689 |
440301103017354 |
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Shareholder (s) (% of
Shareholding) |
Shenzhen
Skyworth-Rgb Electrnic Co., Ltd. 100% |
Shenzhen
Skyworth-Rgb Electrnic Co., Ltd. 72% Shenzhen
Lingyou Investment Co., Ltd. 11% Other
44 Individuals 其他44个自然人 17% |
|
|
2007-12-26 |
Company Name |
Skyworth
Digital Technology (Shenzhen) Co., Ltd. |
Shenzhen Skyworth Digital
Technology Co., Ltd. |
|
Legal Form |
Limited Liabilities Company |
Shares Limited Company |
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Registered Capital |
CNY 12,396,600 |
CNY 120,000,000 |
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|
2013-03-11 |
Legal Representative |
Zhang Xuebin |
Yand Dongwen |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Shenzhen Skyworth-Rgb Electronic
Co., Ltd. |
72 |
|
Shenzhen
Lingyou Investment Co., Ltd. |
11 |
|
Other 44 Individuals |
17 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and
Chairman |
Yand Dongwen |
|
General Manager |
Shi Chi |
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Deputy General Manager |
He Xuan |
|
Wang Xiaohui |
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Zhang Zhi |
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Chang Baocheng |
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Director |
Wang Xingjun |
|
Zhang Zhi |
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|
Fan Ruicheng |
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Ju Xinhua |
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Liu Xiaorong |
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Huang Yaowen |
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Lin Weijing |
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Shi Chi |
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Supervisor |
Guo Limin |
|
Chen Fei |
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|
Jia Hongwei |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name
%
of Shareholding
Shenzhen Skyworth-Rgb Electronic
Co., Ltd. 72
Shenzhen Lingyou Investment Co.,
Ltd. 11
Other 44 Individuals 17
n Shenzhen
Skyworth-Rgb Electronic Co., Ltd.
-----------------------------------------------------------
Registration No.:
440301503327309
Date of Registration: March 8,
1988
Legal Form: Chinese-foreign
equity joint venture enterprise
Registered Capital: CNY
700,000,000
Legal Representative: Yand
Dongwen
n Shenzhen
Lingyou Investment Co., Ltd.
-----------------------------------------------------
Registration No.:
440306102993900
Date of Registration: November
16, 2007
Legal Form: Limited Liabilities
Company
Registered Capital: CNY
20,000,000
Legal Representative: Lin
Fuqiang
MANAGEMENT
Yand
Dongwen , Legal Representative and Chairman
-------------------------------------------------------------------------------
Ø
Gender: M
Ø Working
experience (s):
At present, working in SC as
legal representative and chairman
Also working in Shenzhen
Skyworth-Rgb Electrnic Co., Ltd. as legal representative
Shi Chi, General Manager
------------------------------------------
Ø
Gender: M
Ø Working
experience (s):
At present, working in SC as
general manager
Deputy General Manager
-------------------------------
He Xuan
Wang Xiaohui
Zhang Zhi
Chang Baocheng
Director
------------
Wang Xingjun
Zhang Zhi
Fan Ruicheng
Ju Xinhua
Liu Xiaorong
Huang Yaowen
Lin Weijing
Shi Chi
Supervisor
--------------
Guo Limin
Chen Fei
Jia Hongwei
BUSINESS OPERATION
SC’s registered business scope includes developing,
researching, manufacturing, and selling digital video broadcasting system
series products, multimedia information system series products & services;
software research & development & manufacture & services;
integrated circuit research and development, sales and service; researching,
developing, manufacturing, and selling telecommunications terminal equipment,
communications terminal equipment access device and transmission system
(limited to operate by is branches, which has its own business certificate);
researching, developing, and selling computer, flat computer, and mobile
communication products.
SC is
mainly engaged in developing, researching, manufacturing, and selling digital video
broadcasting system series products, etc.
Brand: Skyworth
SC’s products
mainly include:
Digital television
terminal
Broadband access
equipment
Digital TV
front-end
DBS household
products
Broadband video
terminal
OTT terminal
SC sources its
materials 80% from domestic market, and 20% from the overseas market. SC sells
70% of its products in domestic market, and 30% to the overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 20,000
staff (including its branches) at present.
SC owns
an area as its operating office and factory, but the detailed information is
unknown.
RELATED COMPANY
SC is known to have the
following branches at present,
Shenzhen
Skyworth Digital Technology Co., Ltd. Baoan Factory
Shenzhen
Skyworth Digital Technology Co., Ltd. Beijing Branch
Etc.
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 large-sized in its line with 12
years business history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.28 |
|
UK Pound |
1 |
Rs.82.06 |
|
Euro |
1 |
Rs.70.23 |
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 |
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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.