MIRA
INFORM REPORT
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Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN
CHINO-E COMMUNICATION CO., LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
22.10.1997 |
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Com. Reg. No.: |
440306104085110 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject is engaged in manufacturing and selling telephones, fax
machines, electronic products, mobile phones, wireless terminal. |
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No. of Employees : |
1,082 |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 and address
SHENZHEN CHINO-E COMMUNICATION CO., LTD.
CHINO-E
INDUSTRIAL BUILDING, NIULANQIAN, LONGHUA TOWN BAOAN DISTRICT, SHENZHEN, GUANGDONG
PROVINCE 518109 PR CHINA
TEL: 86 (0)
755-28194913
FAX: 86 (0)
755-28194132
EXECUTIVE SUMMARY
Date of Registration : october 22, 1997
REGISTRATION NO. : 440306104085110
LEGAL FORM : Shares limited company
CHIEF EXECUTIVE :
wang qingyun (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny 110,000,000
staff :
1,082
BUSINESS CATEGORY : manufacturing
Revenue :
n/a (AS
OF DEC. 31, 2012)
EQUITIES :
n/a (AS
OF DEC. 31, 2012)
WEBSITE : http://www.chinaorganicchem.com/www.chino-e.com
E-MAIL :
n/a
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.13 = 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.:
440306104085110.
SC’s Organization Code Certificate No.:
27939209-8
SC’s Tax No.: 440306279392098
SC’s registered capital: cny 110,000,000
SC’s paid-in capital: cny 110,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2011-03-04 |
Shareholder (s) (% of Shareholding) |
Shi Lisun 2.10% Zhang Guolin 3.08% Ma Zibin 5.14% Wang Qingyun 86.60% Chen Jili 3.08% |
Ma Zibin 5.14% Wang Zhouming 18.00% Zhang Guolin 3.08% Shi Lisun 2.10% Chen Jili 3.08% Wang Qingyun 68.60% |
|
2011-03-25 |
Registered Capital |
CNY 22,000,000 |
CNY 24,149,300 |
|
Shareholder (s) (% of Shareholding) |
Ma Zibin 5.14% Wang Zhouming 18.00% Zhang Guolin 3.08% Shi Lisun 2.10% Chen Jili 3.08% Wang Qingyun 68.60% |
Wang Qingyun 62.49% Lai Qishou 0.45% Shi Lisun 1.91% Zhang Guolin 2.81% Wang Zhouming 16.40% Wu Tianxiang 0.45% Zhang Kaishi师 3.50% Zheng Jinjian 4.50% Chen Jili 2.81% Ma Zibin 4.68% |
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2011-07-12 |
Registered Capital |
CNY 24,149,300 |
CNY 96,000,000 |
|
2011-12-14 |
Registered Capital |
CNY 96,000,000 |
cny 110,000,000 |
|
Shareholder (s) (% of Shareholding) |
Wang Qingyun 62.49% Lai Qishou 0.45% Shi Lisun 1.91% Zhang Guolin 2.81% Wang Zhouming 16.40% Wu Tianxiang 0.45% Zhang Kaishi 3.50% Zheng Jinjian 4.50% Chen Jili 2.81% Ma Zibin 4.68% |
Shi Lisun 1.6696% Chen Jili 2.4487% Wang Zhouming 14.3110% Zhang Guolin 2.4487% Wu Tianxiang 0.3927% Dongfang Fuhai (Wuhu) Equity Investment Fund
(Limited Partnership) 4.0668% Zhang Kaishi 3.0546% Wanjiang (Wuhu) Logistic Industry Investment
Fund (Limited Partnership) 6.7466% Dongfang Fuhai (Wuhu) No. 2 Equity
Investment Fund (Limited Partnership) 1.9138% Zheng Jinjian 3.9273% Wang Qingyun 54.5408% Ma Zibin 4.0867% Lai Qishou 0.3927% |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Shi Lisun |
1.6696 |
|
Chen Jili |
2.4487 |
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Wang Zhouming |
14.3110 |
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Zhang Guolin |
2.4487 |
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Wu Tianxiang |
0.3927 |
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Dongfang Fuhai (Wuhu) Equity Investment Fund
(Limited Partnership) |
4.0668 |
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Zhang Kaishi |
3.0546 |
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Wanjiang (Wuhu) Logistic Industry Investment
Fund (Limited Partnership) |
6.7466 |
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Dongfang Fuhai (Wuhu) No. 2 Equity
Investment Fund (Limited Partnership) |
1.9138 |
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Zheng Jinjian |
3.9273 |
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Wang Qingyun |
54.5408 |
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Ma Zibin |
4.0867 |
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Lai Qishou |
0.3927 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Wang Qingyun |
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Director |
Zhou Hanjun |
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Kong Weimin |
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Ma Zibin |
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Zheng Jinjian |
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Shi Lisun |
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Chen Jili |
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Zhang Yi |
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Wang Zhouming |
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Supervisor |
Peng Weizhou |
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Zhang Guolin |
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Han Xuesong |
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Wang Ruiting |
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|
Zhang Kaishi |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Shi Lisun 1.6696
Chen Jili 2.4487
Wang Zhouming 14.3110
Zhang Guolin 2.4487
Wu Tianxiang 0.3927
Dongfang Fuhai (Wuhu) Equity Investment Fund (Limited Partnership) 4.0668
Zhang Kaishi 3.0546
Wanjiang (Wuhu) Logistic Industry Investment Fund (Limited Partnership) 6.7466
Dongfang Fuhai (Wuhu) No. 2 Equity Investment Fund (Limited Partnership) 1.9138
Zheng Jinjian 3.9273
Wang Qingyun 54.5408
Ma Zibin 4.0867
Lai Qishou 0.3927
MANAGEMENT
Wang Qingyun,
Legal Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------------
Gender: M
Qualification: University
Working experience (s):
At present, working in SC as legal representative, chairman and general
manager
Director
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Zhou Hanjun
Kong Weimin
Ma Zibin
Zheng Jinjian
Shi Lisun
Chen Jili
Zhang Yi
Wang Zhouming
Supervisor
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Peng Weizhou
Zhang Guolin
Han Xuesong
Wang Ruiting
Zhang Kaishi
BUSINESS
OPERATION
SC’s registered business scope includes manufacturing and
selling telephones, fax machines, electronic products, mobile phones, wireless
terminal, computer software / hardware, network terminal products, video
communications terminal products, data products, and digital products, and
import & export business; technology development and sales of electronic
device & microelectronic devices; domestic commerce (excluding the products
previlaged, prohibited or franchised); industry development (projects need to be
reported for authorization); and ordinary road freight.
SC is mainly engaged in manufacturing and selling telephones, fax
machines, electronic products, mobile phones, wireless terminal.
SC’s products mainly include: telephones, fax machines, electronic
products, mobile phones, wireless terminal.
SC sources its materials 100% from domestic market, mainly Shenzhen. SC
sells 60% of its products in domestic market, and 40% to overseas market,
mainly Southeast Asia, etc.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Staff &
Office:
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SC is known to have approx. 1,082
staff at present.
SC owns an area as its operating office and factory, but the detailed
information is unknown.
RELATED
COMPANY
SC is not known to have any subsidiary at present.
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 medium-sized in its line with 16 business history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.31 |
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|
1 |
Rs. 101.77 |
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Euro |
1 |
Rs. 84.68 |
INFORMATION DETAILS
|
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 |
|
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.