MIRA INFORM REPORT
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Report Date : |
10.12.2014 |
IDENTIFICATION DETAILS
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Name : |
CHINA ELECTRONICS SHENZHEN COMPANY |
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Registered Office : |
36/F, 35/F, Block A, Electronic |
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Country : |
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Date of Incorporation : |
19.05.1982 |
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Com. Reg. No.: |
440000000029684 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject is engaged in import and export of goods and technologies (according to the related regulations), foreign economic cooperation business (according to the related regulations), selling textiles, general merchandise, industrial goods (excluding gold, silver, cars, dangerous chemicals), petroleum products (excluding oil), hardware, chemical industry (excluding dangerous chemicals), building materials, arts and crafts goods (excluding jewelry), selling its own import and export commodities in domestic market; labor services, information consulting, packaging services, property management, leasing, selling its own property; sales, wholesale, retail and repair of Class I medical devices, Class II medical devices and Class III medical devices. |
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No of Employees : |
308 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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, growth of the private sector, development of stock markets and a modern banking system, 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 considered important to "economic security," explicitly looking to foster globally competitive industries. After keeping its currency tightly linked to the US dollar for years, in July 2005 China 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 and expanded the daily trading band within which the RMB is permitted to fluctuate. 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 2013 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 consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (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. Several factors are converging to slow China's growth, including debt overhang from its credit-fueled stimulus program, industrial overcapacity, inefficient allocation of capital by state-owned banks, and the slow recovery of China's trading partners. The government's 12th Five-Year Plan, adopted in March 2011 and reiterated at the Communist Party's "Third Plenum" meeting in November 2013, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent in the future on fixed investments, exports, and heavy industry. However, China has made only marginal progress toward these rebalancing goals. The new government of President XI Jinping has signaled a greater willingness to undertake reforms that focus on China's long-term economic health, including giving the market a more decisive role in allocating resources.
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Source
: CIA |
COMPANY NAME & ADDRESS
CHINA ELECTRONICS
SHENZHEN COMPANY
36/F, 35/F, BLOCK A,
ELECTRONIC SCIENCE & TECHNOLOGY BUILDING
NO. 2070 SHENNAN
MIDDLE ROAD, SHENZHEN
GUANGDONG PROVINCE
518031 PR CHINA
TEL: 86 (0)
755-83783262/83783269
FAX: 86 (0)
755-83783284/83240236
EXECUTIVE SUMMARY
Date of Registration : MAY 19, 1982
REGISTRATION NO. : 440000000029684
LEGAL FORM : shares limited coMPANY
REGISTERED CAPITAL : cny 175,000,000
staff : 308
BUSINESS CATEGORY : TRADE & investment & management
Revenue :
n/a
EQUITIES :
n/a
WEBSITE : www.ceiecsz.com.cn
E-MAIL :
N/A
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.15 = 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.: 440000000029684.
SC’s Organization Code Certificate
No.: 61743968-9
SC’s Tax No.: 440301617439689
SC’s registered capital: cny 175,000,000
SC’s paid-in capital: cny 175,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2013-09-23 |
Legal Representative |
Cong Yadong |
Chen Xu |
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2014-6-16 |
Registered Business Scope |
import and export of goods and technologies (according to the related
regulations), foreign economic cooperation business (according to the related
regulations), selling textiles, general merchandise, industrial goods
(excluding gold, silver, cars, dangerous chemicals), petroleum products
(excluding oil), hardware, chemical industry (excluding dangerous chemicals),
building materials, arts and crafts goods (excluding jewelry), selling its
own import and export commodities in domestic market; labor services,
information consulting, packaging services, property management, leasing,
selling its own property. |
import and export of goods and technologies (according to the related regulations),
foreign economic cooperation business (according to the related regulations),
selling textiles, general merchandise, industrial goods (excluding gold,
silver, cars, dangerous chemicals), petroleum products (excluding oil),
hardware, chemical industry (excluding dangerous chemicals), building
materials, arts and crafts goods (excluding jewelry), selling its own import
and export commodities in domestic market; labor services, information
consulting, packaging services, property management, leasing, selling its own
property; sales, wholesale, retail and repair of Class I medical devices,
Class II medical devices and Class III medical devices. |
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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China National Electronics Import and
Export Corporation |
97.5 |
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Other individuals |
2.5 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and
Chairman |
Chen Xu |
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General Manager and Director |
Guo Jian |
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Director |
Hong Guanqi |
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Liu Sizhang |
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Qu Huimin |
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Li Jinghe |
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Song Jian |
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Supervisor |
Wang Qiuping |
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Xiao Yuan |
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Wang Lianyang |
RECENT DEVELOPMENT
As an advanced enterprise of national foreign economy and trade, quality
and benefit, SC has ranked the 43rd position in the 100 top exported
state-owned enterprises in China, the 235th position in the 500 top Chinese
services enterprises and the 49th position in the 100 top Shenzhen enterprises.
It is an enterprise with AAA bank credit rating and a provincial and municipal
civilization unit for many years. SC takes the lead in the electronics industry
association, import and export industry and related industry associations, and
it is a membership unit of Shenzhen Chamber of Commerce for Import& Export.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
China National Electronics
Import and Export Corporation 97.5
Other individuals 2.5
China
National Electronics Import and Export Corporation
=============================================
Registration No.: 100000000001068
Date of Registration: April 15, 1980
Legal Form: State-owned
Registered Capital: CNY 694,216,000
Legal Representative: Qu Huimin
Web: www.ceiec.com.cn
MANAGEMENT
Chen Xu, Legal Representative and Chairman
--------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative and chairman
Guo
Jian, General Manager and Director
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Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as general manager
and director, also working in Shenzhen Jingwah Electronics Co., Ltd., Shenzhen
CEIEC Qianhai Information Industry Co., Ltd. as general manager
Director
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Hong Guanqi
Liu Sizhang
Qu Huimin (Also working in China National Electronics Import and Export Corporation as
legal representative)
Li Jinghe
Song Jian
Supervisor
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Wang Qiuping
Xiao Yuan
Wang Lianyang
BUSINESS OPERATION
SC’s registered business
scope includes import and export of goods and technologies (according to the
related regulations), foreign economic cooperation business (according to the
related regulations), selling textiles, general merchandise, industrial goods
(excluding gold, silver, cars, dangerous chemicals), petroleum products
(excluding oil), hardware, chemical industry (excluding dangerous chemicals),
building materials, arts and crafts goods (excluding jewelry), selling its own
import and export commodities in domestic market; labor services, information
consulting, packaging services, property management, leasing, selling its own
property; sales, wholesale, retail and repair of Class I medical devices, Class
II medical devices and Class III medical devices.
SC is
mainly engaged in international trade, investment and management of its subsidiaries.
SC’s products mainly include: electrical and mechanical products,
household appliances, digital
electronics, computer fitting, magnetic material, etc.
SC sources its
products 95% from domestic markets and 5% from overseas market. SC sells 10% of
its products in domestic markets and 90% to 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 Check, T/T, L/C and Credit of 30-60
days.
*Major Customers:
==============
Curtis
International
Club Electronics
Ferris Marketing
Inc.
Staff & Office:
--------------------------
SC is
known to have approx. 308 staff
at present.
SC rents an area as
its operating office, but the detailed information is unknown.
RELATED COMPANY
SC is known to have
following subsidiaries at present,
Zhuhai
CEIEC Technology Industry Investment Co., Ltd.
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Date of Registration: December 8, 2004
Registration No.: 440400000058531
Registered Capital: CNY 50,000,000
Shenzhen
CEIEC Information Times Square Co., Ltd.
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Date of Registration: January 7, 2002
Registration No.: 440301103286425
Registered Capital: CNY 1,000,000
Shenzhen
Jingwah Electronics Co., Ltd.
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Date of Registration: May 8, 1984
Registration No.: 440301103213885
Registered Capital: CNY 115,070,000
China
National Electronics Import & Export Zhuhai Co., Ltd.
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Date of Registration: June 2, 1987
Registration No.: 440400000039395
Registered Capital: CNY 25,900,000
Dongguan
Xindi Industry and Trade Co., Ltd.
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Date of Registration: January 27, 1997
Registration No.: 441900001635631
Registered Capital: CNY 20,000,000
Shenzhen
CEIEC Property Management Co., Ltd.
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Date of Registration: June 26, 1992
Registration No.: 440301103662666
Registered Capital: CNY 10,200,000
Shenzhen
CEIEC Qianhai Information Industry Co., Ltd.
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Date of Registration: March 7, 2013
Registration No.: 440301106927081
Registered Capital: CNY 20,000,000
Shenzhen
CEIEC Power Technology Co., Ltd.
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Date of Registration: June 15, 1993
Registration No.: 440301102974965
Registered Capital: CNY 60,000,000
CEIEC
Ether Electronics Co., Ltd.
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Date of Registration: February 17, 2005
Registration No.: 440301102791005
Registered Capital: CNY 10,000,000
Heyuan
CEIEC Investment Co., Ltd.
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Date of Registration: November 1, 2006
Registration No.: 441600000007010
Registered Capital: CNY 50,000,000
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
Basic Bank:
Bank
of China
AC#:
744557928058
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
32 years history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 61.87 |
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1 |
Rs. 96.90 |
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Euro |
1 |
Rs. 76.29 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
DPT |
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.