MIRA INFORM REPORT
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Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
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Name : |
WUHAN
TELECOMMUNICATION DEVICES co., ltd. |
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Registered Office : |
NO. 88, Youkeyuan
Road, Hongshan District, Wuhan, Hubei
Province, 430074 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
18.03.2004 |
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Com. Reg. No.: |
420100000029439 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in researching, developing,
manufacturing and selling optoelectronic devices and other electronic
devices, communications equipment and other electronic equipment technologies
and products, related technology consulting and technical services |
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No. of Employees |
2,000 |
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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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
|
Source
: CIA |
Company
name and address
WUHAN TELECOMMUNICATION DEVICES co., ltd.
NO. 88, YOUKEYUAN
ROAD, HONGSHAN DISTRICT,
WUHAN, HUBEI
PROVINCE, 430074 PR CHINA
TEL: 86 (0)
27-87691427
FAX: 86 (0)
27-87803010
EXECUTIVE
SUMMARY
INCORPORATION DATE : MAR. 18, 2004
REGISTRATION NO. : 420100000029439
REGISTERED LEGAL FORM
: One-person Limited Liability Company
CHIEF EXECUTIVE : MR. TONG GUOHUA (CHAIRMAN)
STAFF STRENGTH : 2,000
REGISTERED CAPITAL :
CNY 154,568,000
BUSINESS LINE : RESEARCHING,
DEVELOPING, manufacturing and trading
TURNOVER : CNY
1,200,866,000 (AS OF DEC. 31, 2013)
EQUITIES : CNY
431,187,000 (AS OF DEC. 31, 2013)
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.2156 = USD1
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: SC’s complete name should be the heading one.
SC was registered as a One-person Limited Liability Company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Mar. 18, 2004.
Company Status: One-person
Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes researching, developing, manufacturing and selling optoelectronic devices and other electronic devices, communications equipment and other electronic equipment technologies and products, related technology consulting and technical services, technology transfer.
SC is mainly engaged in researching, developing, manufacturing and selling semiconductor laser diodes, detectors, transmitter/receiver modules, transceivers for optical communication purposes, etc.
Mr. Tong Guohua is legal representative and chairman of SC at present.
SC is known to have approx. 2,000 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office and factory in Wuhan. SC’s management declined to release detailed information of the premise.
http://www.wtd.com.cn The design is professional and the content is well organized. At present the web site is both in Chinese and English versions.
E-mail: hr@wtd.com.cn
According to SC’s website, SC’s predecessor was Yangtze Laser Electron Co., Ltd.
Certificates:
ISO9002 certified in 1996
ISO9001 certified in 1997
ISO14001 certified in 2001
TL9000 certified in 2002
OHSAS18001 certified in 2002
Organization code: 616424901
See below for SC as executive party (defendant).
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Executed Party |
SC |
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Court |
Wuhan City Wuchang District People's Court |
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Date of Case |
Aug. 19, 2008 |
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Case Number |
(2008) 00916 |
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Claim Amount |
RMB 0 |
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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
Accelink Technologies Co., Ltd. 100
Accelink Technologies Co., Ltd. is a top opto-electronic components supplier. It is the only Chinese company that has the ability to conduct systematic/strategic R&D on components level and is the first Chinese company to own chip level technology and mass production ability.
The said company is a listed company in Shenzhen Stock Exchange Market with the code of 002281.
Incorporation Date : Jan. 22, 2001
Registration No. : 420000400004240
Registered Legal Form : Shares limited co.
Legal Rep. : Lu Guoqing
Registered Capital : CNY 186,181,000
E-mail: investor@accelink.com
Tel: 86 (0)
27-87694060
Fax: 86 (0)
27-87694060
Legal Representative
and Chairman:
Mr. Tong Guohua , born in 1957, with doctor’s degree, professor level senior engineer. He is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and chairman.
Also working in Fiberhome Telecommunication Technologies Co., Ltd., Wuhan Fiberhome Networks Co., Ltd., Wuhan Fiberhome Mobile Communication Co., Ltd., Beijing North Fiberhome Technology Co., Ltd., etc. as legal representative.
Directors:
Yu Shaohua
Xu Jie
Supervisors:
Wang Renfan
Zhang Jijun
SC is mainly engaged in researching, developing, manufacturing and selling semiconductor laser diodes, detectors, transmitter/receiver modules, transceivers for optical communication purposes, etc.
SC’s products mainly include: modules, devices, chips and analog.
SC sources its materials 100% from domestic market. SC sells 70% of its products in domestic market, and 30% to overseas market.
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.
Note: SC’s management declined to release its major clients and suppliers.
Fiberhome Telecommunication
Technologies Co., Ltd.
=========================================
Incorporation date:
Registration no.: 420000000041377
Registered capital: CNY
966,705,000
Legal rep.: Tong Guohua
Legal form: Shares limited co.
Web: http://www.fiberhome.com.cn
E-mail: info@fiberhome.com.cn
Tel: 027-87693885
Fax: 027-87691704
The said company is a listed company in Shanghai Stock Exchange Market with the code of 600498.
Wuhan Fiberhome Networks Co., Ltd.
=========================
Incorporation date:
Registration no.: 420100000103136
Legal rep.: Tong Guohua
E-mail: Sales@fiberhomenetworks.com
Tel: +86-27-87691010
Fax: +86-27-87691520
Wuhan Fiberhome Mobile Communication Co., Ltd.
======================================
Incorporation date:
Registration no.: 420100400003159
Legal rep.: Tong Guohua
Beijing North Fiberhome Technology Co., Ltd.
==================================
Incorporation date:
Registration no.: 110108003367619
Registered capital: CNY
20,000,000
Legal rep.: Tong Guohua
Legal form: One-person Limited Liability Company
Web: http://www.beijing-wri.com
E-mail: business@beijing-wri.com
Tel: 010-62968448
Fax: 010-62968452
Etc.
According to SC’s website:
Branch Office in Japan
Address: Taitoku kojim
Tel: 090-6532-2267/080-4051-9601
Fax: 03-5833-9083
Branch Office in Shenzhen
Address: Room #1109-1110 International Mayor Communication Center, Shizhou Road, middle, Nanshan District Shenzhen, 518053, P.R.China
Tel: +86-755-86100126/86100177
Fax: +86-755-86100126/86100177
Branch Office in Beijing
Address: Room # 2205 Building B, 9 Mudanyuan Beili, Haidian District, Beijing, 100191, P.R.China
Tel: +86-13971424781
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.
SC’s management declined to release the bank information of SC.
Financial Information
Unit: CNY’000
Note: SC’s accountant
refused to release SC’s financial reports. The above SC’s financial data came
from the public annual report of SC’s parent company.
Important Ratios
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As of Dec. 31, 2012 |
As of Dec. 31, 2013 |
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*Liabilities to assets |
0.65 |
0.57 |
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*Net profit margin (%) |
5.59 |
8.76 |
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*Return on total assets (%) |
6.78 |
10.41 |
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*Turnover/Total assets |
1.21 |
1.19 |
PROFITABILITY: FAIRLY GOOD
The turnover of SC appears good in its line in its line, and it increased in 2013.
SC’s net profit margin is fairly good in both years.
SC’s return on total assets is fairly good in 2012, and good in 2013.
SC’s turnover is in an average level in both years, comparing with the size of its total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Stable.
SC is considered large-sized in its line with stable financial conditions
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.97 |
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1 |
Rs.102.90 |
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Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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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 |
-- |
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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.