MIRA INFORM REPORT
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Report Date : |
26.12.2014 |
IDENTIFICATION DETAILS
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Name : |
BEIJING SEVENSTAR ELECTRONICS CO., LTD. |
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Registered Office : |
No. 1, Jiuxianqiao East Road, Chaoyang District, Beijing City, 100015 Pr |
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Country : |
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Financials (as on) : |
30.09.2014 (Consolidated) |
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Date of Incorporation : |
28.09.2001 |
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Com. Reg. No.: |
110000003318164 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
·
Engaged in assembly
and production of Integrated
Circuit Equipment, Photovoltaic Equipment, TFT Equipment, Vacuum Equipment,
Lithium Ion · Engaged in Sales of Integrated Circuit Devices, Photovoltaic Equipment, TFT Equipment, Vacuum Equipment, Lithium Ion Battery Equipment, Meter, Electronic Components; Technical Advice; Technology Development; Technology Transfer; Economic Trade Consulting; Investment And Investment Management; Import and export of goods and technology as well as import and Export Agents. · engaged in Researching, Developing, Manufacturing and Selling Electronic Products. · Subject products ranges include Semi-Conductor Process Equipment, Solar Cell Production Equipment, Industrial Furnace & Green Environment Protecting Battery Production Equipment. |
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No of Employees : |
2,895 (Approximately) |
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 |
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
Beijing Sevenstar Electronics Co., Ltd.
no. 1, jiuxianqiao
east road, chaoyang district,
Beijing
city, 100015 PR CHINA
TEL: 86 (0)
10-64369908/84572692 FAX: 86 (0)
10-64369908/64376543
EXECUTIVE SUMMARY
INCORPORATION DATE : SEPTEMBER 28, 2001
REGISTRATION NO. : 110000003318164
REGISTERED LEGAL FORM : SHARES LIMITED COMPANY
CHIEF EXECUTIVE : MR. WANG YANLING (CHAIRMAN)
STAFF STRENGTH :
2,895
REGISTERED CAPITAL : CNY 352,200,000
BUSINESS LINE :
R&D, MANUFACTURE
TURNOVER :
CNY 564,641,000 (CONSOLIDATED, JAN. 1 TO SEP. 30, 2014)
EQUITIES :
CNY 1,949,206,000 (CONSOLIDATED, AS OF SEP. 30, 2014)
PAYMENT :
No Complaints
RECOMM. CREDIT RANGE : UP TO USD 5,000,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : well-known
EXCHANGE RATE :
CNY 6.2238 = 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
SC was registered as a shares limited company at local Administration
for industry & commerce (AIC – the official body of issuing and renewing
business license) on Sep. 28, 2001.
Company Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The co has independent
property of legal person and enjoys property rights of legal person. The characteristics of the shares limited co. are as
follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be domiciled
in China. Natural person are allowed to
serve as promoters. The minimum registered capital
of a co. is CNY 5M. while that of the co. with foreign investment is CNY
5M. The total capital of a co. which propose to apply for publicly listed
must be no less than CNY 30M. The board of directors must
consist of five to nineteen directors. If the
co. raises capital by public offer, the promoters must not subscribe less
than 35% of the total shares. the promoters’ shares are restricted to
transfer- within one year of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions & requirements specified
under the law & administrative rule.
SC’s registered
business scope includes assembly and production of integrated circuit
equipment, photovoltaic equipment, TFT equipment, vacuum equipment, lithium ion
battery equipment, meter, electronic components. Sales of integrated circuit
devices, photovoltaic equipment, TFT equipment, vacuum equipment, lithium ion
battery equipment, meter, electronic components; technical advice; technology
development; technology transfer; economic trade consulting; investment and
investment management; import and export of goods and technology; import and
export agents.
SC is mainly
engaged in researching, developing, manufacturing and selling electronic
products.
Mr. Wang
Yanling has been chairman and legal
representative of SC since 2010.
SC is known
to have approx. 2,895
employees at present, including 778 technical staffs, 1,376 workers and 121
sales representatives
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in Beijing. The detailed information of the
premise is unspecified.
http://www.sevenstar.com.cn The design is professional
and the content is well organized. At present it is in Chinese and English
versions.
Email: zbzq@sevenstar.com.cn
SC was listed in Shenzhen Stock Exchange on Mar. 16, 2010, and the stock
number is 002371.
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2004-11-2 |
Legal representative |
Wang Yintong |
Yang Wenliang |
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2005-8-1 |
Registered capital |
CNY 76,420,000 |
CNY 48,440,000 |
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2010-4-28 |
Registered capital |
CNY 48,440,000 |
CNY 65,000,000 |
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Legal representative |
Yang Wenliang |
Wang Yanling |
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2011-08-16 |
Registered capital |
CNY 65,000,000 |
CNY 84,500,000 |
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2012-05-07 |
Registered capital |
CNY 84,500,000 |
CNY 152,100,000 |
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2012-11-08 |
Registered capital |
CNY 152,100,000 |
CNY 176,100,000 |
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2013-06-08 |
Registered capital |
CNY 176,100,000 |
Present amount |
SC’s quality system meets the international standards
of ISO 9001.
Subject passed the
annual inspection of 2012 with Administration for Industry & Commerce.
Organization Code:
726377528
MAIN SHAREHOLDERS:
(As of Sep. 30, 2014)
Name %
of Shareholding
Beijing Sevenstar Science & Technology
Co., Ltd 50.12
Beijing Silicon Science Electronic
Microelectronics Technology Co., Ltd. 6.1
China Construction Bank Corporation-Huashang
Theme Selected
Equity Securities Investment Funds (In
Chinese Pinyin) 2.92
China Construction Bank Corporation-Huashang
Dynamic Alpha
Flexible Allocation Mixed Securities
Investment Fund 2.87
National Council for Social Security Fund
Combination 109 1.42
Shi Yuqing 1.39
China Construction Bank Corporation-Milky
Way Industry
Selected Equity Securities Investment Funds 1.11
Beijing Infrastructure Investment Co., Ltd. 1.08
China Minsheng Banking Corp., Ltd.-Dongfang
Selected
Mixed Open Securities Investment Fund (In
Chinese Pinyin) 1.02
Industrial and Commercial Bank of China
Limited-Huashang
Cutting-Edge Industry Flexible Allocation
Mixed Securities Investment Fund 0.75
Other shareholders 31.22
Beijing Sevenstar Science & Technology
Co., Ltd.
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Beijing Sevenstar Science & Technology
Co., Ltd. (“Sevenstar”) is a high-tech company situated in Beijing Jiuxianqiao
Electronic Industry Zone and incorporated according to modern enterprise
system. The company develops, manufactures and distributes electronic
production equipments, components and materials.
Products of Sevenstar includes: Semiconductor
manufacturing equipments (such as micro-diffusion systems, dry etching systems,
PECVD systems, and mass flow controllers), solar cell manufacturing equipments,
TFT-LCD manufacturing equipments, electronic vacuum tube manufacturing
equipments, single crystal growth furnaces, chargeable battery manufacturing
equipments; highly-reliable, stable and accurate resistors and capacitors,
quartz crystal components, think & thin film hybrid integrated circuits,
magnetic materials, and electro-acoustic components.
Registration no.: 110000000440503
Legal representative: Wang Yan
Date of incorporation: 1999-06-10
Beijing Silicon Science Electronic
Microelectronics Technology Co., Ltd.
=====================================================
Registration no.: 110105002709297
Legal representative: Yang Shuo
Date of incorporation: 2001-05-22
Legal Representative
and Chairman:
Mr. Wang Yanling, ID # 11010519650323xxxx, born in 1965, with master’s degree, engineer. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2010 to present Working in SC as chairman and legal representative.
Also working in Beijing Sevenstar Magnetoelectric Technology Co., Ltd. and Beijing Sevenstar Qualiflow Electronic Equipment Manufacturing Co., Ltd. as legal representative, etc.
General Manager:
Mr. Tang Fei, born in 1976, with master’s degree, economist. He is currently responsible for the daily management of SC.
Working Experience(s):
At present
Working in SC as
general manager.
Vice General
Manager:
Zhang Guoming
Gu Weiqun
Xu Jiali
Etc.
Vice Chairman:
Zhang Jianhui
Director:
Zou Zhiwen
Xu Yang
Zhao Yiheng
Etc.
Supervisor:
Liu Fusheng
Yuan Guolin
Liu Weiguo
SC is mainly
engaged in researching, developing, manufacturing and selling electronic
products.
SC’s products mainly include semi-conductor process equipment, solar
cell production equipment, industrial furnace & green environment protecting battery
production equipment.
SC sources its materials 99% from domestic market, and 1% from overseas
market. SC sells 99% of its products in domestic market, and 1% 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.
Note: SC’s management declined to release its customer and supplier
details.
TRADEMARKS & PATENTS
Registration No.: 4224892
Registration Date: 2006-12-28
Trademark Design: 
Registration No.: 5235298
Registration Date: 2009-5-28
Trademark Design:
Registration No.: 4224891
Registration Date: 2006-12-28
Trademark Design: 
SC is known to invest in the following companies:
=======================================
Incorporation Date: 2007-09-04
Registration No.: 110105010468649
Legal Representative: Wang Yanling
Web:
http://www.sevenstar.com.cn/hcc/
======================================================
Incorporation Date: 2004-01-05
Registration No.: 110000410192171
Legal Representative: Wang Yanling
Web:
http://www.sevenstar.com.cn/fler/
========================================
Incorporation Date: 2000-11-14
Registration No.: 110105001758282
Legal Representative: Guan Yingui
Web:
http://www.718yousheng.com/
Beijing
Chenjing Electronic Co., Ltd.
Beijing
Sevenstar Front Electronic Co., Ltd.
Etc.
Overall payment appraisal:
( ) Excellent (
) Good (X) No Complaints ( )
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.
Bank of Communications Beijing Branch Jiuxianqiao Sub-branch
AC#：110061073018010038116
Relationship:
Normal.
Consolidated
Balance Sheet
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Unit: CNY’000 |
As of Sep. 30,
2014 |
As
of Dec. 31, 2013 |
|
Cash & bank |
154,265 |
262,851 |
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Notes receivable |
61,281 |
117,043 |
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Accounts
receivable |
550,794 |
479,894 |
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Advances to
suppliers |
53,139 |
61,825 |
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Inventory |
708,177 |
614,678 |
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Other accounts
receivable |
18,719 |
16,207 |
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Other current
assets |
30,630 |
23,196 |
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------------------ |
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Current assets |
1,577,005 |
1,575,694 |
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Held-to-maturity
investments |
0 |
2,000 |
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Fixed assets |
535,590 |
551,568 |
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Projects under
construction |
449,456 |
339,261 |
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Intangible
assets |
694,787 |
511,433 |
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Development
expenditure |
524,726 |
626,134 |
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Long term
prepaid expenses |
4,606 |
4,309 |
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Deferred tax
asset |
20,380 |
18,109 |
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Other
non-current assets |
143,712 |
117,557 |
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Total assets |
3,950,262 |
3,746,065 |
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Short loans |
155,360 |
117,010 |
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Note payable |
64,262 |
45,541 |
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Accounts payable |
273,262 |
259,917 |
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Advances to
suppliers |
245,274 |
188,115 |
|
Payroll payable |
42,865 |
48,744 |
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Taxes payable |
19,110 |
12,291 |
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Dividends
payable |
33,269 |
15,015 |
|
Other accounts
payable |
53,212 |
40,395 |
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------------------ |
------------------ |
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Current
liabilities |
886,614 |
727,028 |
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Non-current liabilities |
1,114,442 |
1,093,196 |
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------------------ |
------------------ |
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Total
liabilities |
2,001,056 |
1,820,224 |
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Equities |
1,949,206 |
1,925,841 |
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------------------ |
------------------ |
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Total
liabilities & equities |
3,950,262 |
3,746,065 |
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Consolidated
Income Statement
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Unit: CNY’000 |
Jan. 1~ Sep. 30,
2014 |
As
of Dec. 31, 2013 |
|
Turnover |
564,641 |
859,527 |
|
Cost of goods sold |
332,143 |
499,358 |
|
Tax and associate charge |
3,145 |
4,180 |
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Sales expense |
33,047 |
48,471 |
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Management expense |
121,169 |
160,454 |
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Finance expense |
6,171 |
1,050 |
|
Assets depreciation loss |
14,772 |
8,559 |
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Investment
income |
10 |
0 |
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Non-operating
income |
19,276 |
22,590 |
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Non-operating expense |
955 |
993 |
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Profit before
tax |
72,525 |
159,052 |
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Less: profit tax |
13,928 |
27,026 |
|
Profits |
58,597 |
132,026 |
Important
Ratios
=============
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As of Sep. 30,
2014 |
As
of Dec. 31, 2013 |
|
*Current ratio |
1.78 |
2.17 |
|
*Quick ratio |
0.98 |
1.32 |
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*Liabilities to assets |
0.51 |
0.49 |
|
*Net profit margin (%) |
10.38 |
15.36 |
|
*Return on total assets (%) |
1.48 |
3.52 |
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*Inventory /Turnover ×365 |
/ |
262 days |
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*Accounts receivable/Turnover ×365 |
/ |
204 days |
|
*Turnover/Total assets |
0.14 |
0.23 |
|
* Cost of goods sold/Turnover |
0.59 |
0.58 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears fairly good in its line.
l
SC’s net profit margin is good.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is low, comparing with its
turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a fairly good
level in 2013, but normal in the 1st three quarters of 2014.
l
SC’s quick ratio is maintained in a normal level.
l
The inventory of SC appears large.
l
The accounts receivable of SC appears fairly large.
l
SC’s short-term loan is average.
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 2013, but average in
the 1st three quarters of 2014.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly stable.
SC is considered large-sized in its line with fairly stable financial
conditions. The large amount of inventory and accounts receivable could be a
threat to SC’s financial situation.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.46 |
|
UK Pound |
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.77.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.