MIRA INFORM REPORT
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Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
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Name : |
GUANGZHOU BAIYUN MEILING ELECTRONICS FACTORY |
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Registered Office : |
Village 11, Jiaoxin Industrial Zone, Shijing Street, Baiyun District, Guangzhou, Guangdong Province, 510430 PR |
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Country : |
China |
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Date of Incorporation : |
27.02.2009 |
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Com. Reg. No.: |
440111000143721 |
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Legal Form : |
Sole Proprietorship Enterprise |
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Line of Business : |
Subject is engaged in processing, manufacturing and selling LCD TV,
CRT TV and other products. |
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No. of Employees : |
10 |
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 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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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, 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 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. Debt overhang from
its credit-fueled stimulus program in 2008-10, particularly among local
governments, and soaring property prices challenge policy makers currently.
Their efforts to cool a red-hot property market in 2011 appear to have curbed
inflation, but contributed to slower GDP growth in 2012 and 2013. Slow recovery
in Europe and other key export markets have also retarded growth. 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 fixed investments and exports in the future.
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 and address
GUANGZHOU BAIYUN MEILING
ELECTRONICS FACTORY
Village 11, JIAOXIN INDUSTRIAL ZONE, SHIJING
STREET, BAIYUN DISTRICT, Guangzhou, GUANGDONG PROVINCE, 510430 PR CHINA
TEL: 86 (0) 20-36010625/ 13631378578
FAX: 86 (0) 20-36372167
EXECUTIVE
SUMMARY
INCORPORATION DATE : FEB. 27, 2009
REGISTRATION NO. : 440111000143721
REGISTERED LEGAL FORM : sole proprietorship
enterprise
chief executive :
MS. LIU LINGLING (PRINCIPAL)
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 50,000
BUSINESS LINE :
PROCESSING, MANUFACTURING & TRADING
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.2295 = 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 Sole Proprietorship enterprise at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Feb 27, 2009.
Company Status: Sole Proprietorship enterprise This form of business in PR
China is a private enterprise formed by an individual, which does not have
the legal person or limited liability status. The co. is solely operated by
the sole investor who is responsible for all risks & liabilities of the
co.
SC’s registered business scope includes processing, manufacturing and
selling electronic components and accessories, household appliances. [excluding
products prohibited by legal, administrative rules and regulations, and
operating the limited products with permit if needed]
SC is mainly engaged in processing, manufacturing and selling LCD TV,
CRT TV and other products.
Ms. Liu Lingling is principal of SC at present.
SC is known to have approx. 10 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 Guangzhou.
Our checks reveal that SC rents the total premise, but the gross area of the
premise is unspecific.
http://www.tv-manufacturer.com
It includes the information of SC. The design is professional and the content
is well organized. At present it is in English version.
E-mail: gzmeilingdz@gmail.com
No significant events or changes were found during our checks with local
AIC.
Organization code: 685237552
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Liu Lingling 100
Principal:
Ms. Liu Lingling is currently responsible for the overall management of
SC.
Working
Experience(s):
At present Working in SC as
principal.
SC is mainly engaged in processing, manufacturing and selling LCD TV,
CRT TV and other products.
SC’s products mainly include: LED Backlight LCD TV(LED TV), CCFL
Backlight LCD TV, CRT TV, 15.6 Inch LCD TV, 17 Inch LCD TV, 19 Inch LCD/LED TV,
22 Inch LCD/LED TV
SC sources its materials 100% from domestic market. SC sells 95% of its
products in domestic market, and 5% to overseas market.
The buying terms of SC include Check, T/T 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 refused
to release its major suppliers and clients.
SC is not known to have any subsidiary at present.
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.
Industrial and Commercial Bank of China
AC#：N/A
Relationship: Normal.
As a sole proprietorship enterprise, there is no legal requirement
according to local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a development history of 5
years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.26 |
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1 |
Rs.99.63 |
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Euro |
1 |
Rs.80.59 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NNA |
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.