MIRA INFORM REPORT
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Report Date : |
14.10.2013 |
IDENTIFICATION DETAILS
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Name : |
Shenzhen Great Technology Co., Ltd. |
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Registered Office : |
3/F, Block
1, Saitu Technology Park, Bulan Road, Buji Street, Longgang District,
Shenzhen, Guangdong Province, 518112 Pr |
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Country : |
China |
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Date of Incorporation : |
24.04.2006 |
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Com. Reg. No.: |
440306103293203 |
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Legal Form : |
Limited
Liabilities Company |
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Line of Business : |
Manufacturing and selling electronic products. |
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No. of Employees : |
310 |
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 : |
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 – March 31st, 2013
|
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 Great
Technology Co., Ltd.
3/F, Block 1, Saitu Technology Park, Bulan Road,
Buji Street, Longgang District, Shenzhen, Guangdong PROVINCE, 518112 PR CHINA
TEL: 86 (0) 755-33823666/33823012
FAX: 86 (0) 755-33823072
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 24, 2006
REGISTRATION NO. : 440306103293203
REGISTERED LEGAL FORM
: Limited liabilities company
CHIEF EXECUTIVE : MR. YANG CHUBIN (CHAIRMAN)
STAFF STRENGTH : 310
REGISTERED CAPITAL : CNY 30,000,000
BUSINESS LINE :
manufacturing
TURNOVER : N/A
EQUITIES : N/A
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.12 = 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
Renminbi
Note: the given name Great Group (HK) Technology Co., Ltd. is a Hong Kong registered company and SC also uses it as its trade name. The said company is managed by the same management team as SC working from the heading premise. The (Unit 9-11, 20th Floor, Changhong Technology the 12th KEJJ South Road South Zone of Hi-tech Park Nanshan District Shenzhen China) was the former address of SC.
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. 24, 2006.
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 selling electronic products, communications equipment, communications equipment and related products, computer software and hardware, clothing apparel, cosmetics; communications equipment repair; developing, designing and manufacturing electronic products & mobile phone technology; importing and exporting various kinds of commodities and technology.
SC is mainly engaged in manufacturing and selling electronic products.
Mr. Yang Chubin has been chairman and general manager of SC since 2007.
SC is known to have approx. 310 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office and factory in the industrial zone of Shenzhen. Detailed premise information is not available at present.
http://www.szgreatmobile.com The design is professional and the content is well organized. At present it is in Chinese version.
Changes of its registered information are as follows:
|
Date |
Item |
Before the change |
After the change |
|
2007-5 |
Legal rep. |
Chen Yibi |
Present one |
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Registered capital
|
CNY 1,000,000 |
CNY 2,000,000 |
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Shareholders |
Yang Zhenhui40% Chen Yibin60% |
Yang Zhenhui 20% Yang Chubin 80% |
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2008-4 |
Registered capital |
CNY 2,000,000 |
CNY 5,000,000 |
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Shareholdings |
Yang Zhenhui 20% Yang Chubin80% |
Yang Zhenhui 8% Yang Chubin 92% |
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Registered number |
4403011223080 |
440306103293203 |
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2008-7 |
Registered capital |
CNY 5,000,000 |
Present amount |
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Shareholdings |
Yang Zhenhui8% Yang Chubin92% |
Yang Zhenhui2% Yang Chubin98% |
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|
2013-6 |
Shareholdings |
Yang Zhenhui2% Yang Chubin98% |
Present ones |
See below for SC as executive party (defendant).
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Executed Party |
Shenzhen Great Technology Co., Ltd. |
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Court |
Tuanfeng County People's Court |
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Date of Case |
Oct. 11, 2011 |
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Case Number |
(2011) 00609 |
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Claim Amount |
RMB 20,000 |
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Case Status |
Completed |
Remark: Due to the lack of information, we are unable to provide the cause of action, judgment or other information.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Yang Chuxin 2
Yang Chubin 98
Chairman and General Manager:
Mr. Yang Chubin, in his
Working Experience(s):
From 2007 to presentWorking in SC as chairman and general
manager.
Supervisor:
Yang Zhenhui
SC is mainly engaged in manufacturing and selling electronic products.
SC’s products mainly include:
QWERTY keypad
Long standby mobile
Dual sim dual standby
TV phone
CDMA
Slider phone
Bar phone
Folder phone
SC sources its materials 90% from domestic market and 10% from the overseas market, mainly Europe. SC sells 100% of its products in domestic 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 and Credit of 30-60 days.
Note: SC’s management declined to release its main clients and suppliers.
Great Group (HK) Technology Co., Ltd.
==========================
Registered number: 1269757
Incorporated date: Sep. 2, 2008
Legal form: Private
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.
China Construction Bank
AC#：44201532700052514537
Relationship: Normal.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with 7 years operation history. Taking into consideration of SC’s general performance as well as market conditions, we would rate SC as an average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
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|
1 |
Rs.97.77 |
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Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.