MIRA INFORM REPORT
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Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
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Name : |
FUJIAN NEWLAND COMMUNICATION SCIENCE TECHNOLOGY CO., LTD. |
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Registered Office : |
Bldg. 1-3, Section B, Fuzhou Software Park, No. 89 Software Avenue, Tongpan Road, Gulou District, Fuzhou, Fujian Province 350003 PR |
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Country : |
China |
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Date of Incorporation : |
29.11.2001 |
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Com. Reg. No.: |
350100400001214 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject is engaged in manufacturing and selling communication system
equipment, terminal equipment and other related products. |
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No. of Employees : |
510 |
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, 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 and address
FUJIAN NEWLAND COMMUNICATION SCIENCE
TECHNOLOGY CO., LTD.
BLDG. 1-3, SECTION B, FUZHOU SOFTWARE PARK
NO. 89 SOFTWARE AVENUE, TONGPAN ROAD
GULOU DISTRICT, FUZHOU, FUJIAN PROVINCE 350003 PR CHINA
TEL: 86 (0) 591-87860168-8206
FAX: 86 (0) 591-88267346
EXECUTIVE
SUMMARY
Date of Registration : november 29, 2001
REGISTRATION NO. : 350100400001214
LEGAL FORM : SHARES LIMITED COMPANY
CHIEF EXECUTIVE :
HU GANG (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny 84,000,000
staff :
510
BUSINESS CATEGORY : MANUFACTURING & trading
Revenue :
N/A (AS
OF DEC. 31, 2013)
EQUITIES :
N/A (AS
OF DEC. 31, 2013)
WEBSITE : www.newland.cn
E-MAIL :
sales.intl@newland.cn
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.21 = 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.:
350100400001214.
SC’s Organization Code Certificate No.:
73360290-6
SC’s Tax No.: 350105733602906
SC’s registered capital: cny 84,000,000
SC’s paid-in capital: cny 84,000,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
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-- |
Legal Form |
Limited Liabilities Company |
Chinese-Foreign Equity Joint Venture
Enterprise |
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-- |
Chinese-Foreign Equity Joint Venture
Enterprise |
Shares Limited Company |
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-- |
Company Chinese Name |
福建新大陆通信科技有限公司 |
福建新大陆通信科技股份有限公司 |
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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Fujian Newland Science & Technology Group Co., Ltd. |
46.28 |
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Foryouth International Limited (U.K.) |
30.86 |
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Fujian Yingke Yiye Investment & Management Co., Ltd. |
12.86 |
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Other Individuals |
10 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and Chairman |
Hu Gang |
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General Manager and Director |
Chen Xiaohui |
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Director |
Xu Qiang |
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Jiang Weiliang |
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Wang Jing |
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Lin Xuejie |
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Su Kaixiong |
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Chen Ling |
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Supervisor |
Zhang Shuyi |
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Chen Wei |
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Zhang Wanquan |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Fujian Newland Science & Technology Group Co., Ltd. 46.28
Foryouth International Limited (U.K.) 30.86
Fujian Yingke Yiye Investment & Management Co., Ltd. 12.86
Other Individuals 10
Fujian Newland Science & Technology Group Co., Ltd.
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Newland industries across the internet of things, triple play
communications and green technology three main areas. It is a leading set of
things core technology, core products, industry applications and business model
innovation in a comprehensive internet of things and the three networks
integration of digital TV integrated service providers and wireless
communication equipment suppliers to ozone technology independent core
technology in environmental protection equipment and service providers, and the
only master of the UV-C disinfection technology with high-power. Its subsidiary
Fujian Newland Computer Co., Ltd. listed on the Shenzhen Stock Exchange in 2000
(code 000997).
Registration No.: 350105100000782
Date of Registration: March 12, 1994
Legal Form: Limited Liabilities Company
Registered Capital: CNY 85,000,000
Legal Representative: Hu Gang
Tel: 86-0591-83979962
Fax: 86-0591-83977666
Web: www.newland.com.cn
E-mail: webmaster@newland.com.cn
Add: Newland Science and Technology Park, No. 1, Rujiang West Road,
Mawei District, Fuzhou, Fujian Province
Fujian Yingke Yiye Investment & Management Co., Ltd.
--------------------------------------------
Registration No.: 350105100017708
Legal Form: Limited Liabilities Company
Registered Capital: CNY 18,500,000
Legal Representative: Chen Xiaohui
MANAGEMENT
Hu Gang, Legal Representative and Chairman
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Gender: M
Age: 56
Working experience
(s):
At present, working in SC as legal representative and chairman
Also working in Fujian Newland Science & Technology Group Co., Ltd.
and Fujian Newland Computer Co., Ltd. as legal representative
Chen Xiaohui, General Manager and Director
-----------------------------------------------------------------------
Gender: M
Working experience
(s):
At present, working in SC as general manager and director
Also working in Fujian Yingke Yiye Investment & Management Co., Ltd.
as legal representative
Director
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Xu Qiang
Jiang Weiliang
Wang Jing
Lin Xuejie
Su Kaixiong
Chen Ling
Supervisor
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Zhang Shuyi
Chen Wei
Zhang Wanquan
BUSINESS OPERATION
SC’s registered business scope includes manufacturing communication
system equipment, terminal equipment and other related products, after-sales
maintenance services as well as related products technical information
consulting services; manufacturing mobile terminal and the generator(s) and
after-sales service; developing computer hardware and software, manufacturing
electronic products; manufacturing radio and television system equipment
(including wireless radio and television transmitting equipment), TV terminal
equipment and other related products; value-added services of all kinds of
digital information technology development, transfer of technology consulting,
technology services; the aforementioned products construction, engineering,
installation and agency business (excluding satellite TV receiving equipment);
importing and exporting goods and technology (excluding import distribution).
(involved in the approval of the licensing program, engage in production
operation, only allowed in the approval of scope and validity).
SC is mainly engaged in manufacturing and selling communication system
equipment, terminal equipment and other related products.
SC’s products mainly include:
DTV STB solution
·DVB-S/S2
·DVB-T/T2/ISDB-T
·DVB-C
DTV broadcast solution
·digital TV Transmitter
·fiber optical digital TV gap giller
·frequency-shift digital TV
Gap filler
·high power wireless digital TV gap filler
·low power wireless digital TV gap filler
Wireless enhancement
SC sources its materials 80% from domestic market, and 20% from overseas
market. SC sells 60% of its products in domestic market, and 40% 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.
Staff &
Office:
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SC is known to have approx. 510
staff at present.
SC owns an area as its operating office and factory, but the detailed
information is unknown.
RELATED COMPANY
Fujian Newland Computer Co., Ltd.
The company is a listed company in Shenzhen Stock Exchange Market with
the code of 000997.
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:
China Everbright Bank Fuzhou Tongpan Sub-branch
AC#: N/a
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 a development history of
13 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.12 |
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1 |
Rs.102.00 |
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Euro |
1 |
Rs.81.43 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.