MIRA
INFORM REPORT
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Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
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Name : |
Shenzhen Telacom
Science & Technology Co., Ltd. |
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Registered Office : |
28/f, Building B, Changxing Plaza, Huaqiang North Road,
Futian District, Shenzhen, Guangdong
Province 518028 PR |
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Country : |
China |
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Date of Incorporation : |
16.10.2008 |
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Com. Reg. No.: |
440301103662393 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject includes manufacturing
communication equipment, electronic products, mobile phones and related
accessories; computer hardware and software development; importing and
exporting goods and technology. |
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No. of Employees |
160 |
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
|
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
Shenzhen Telacom Science & Technology Co.,
Ltd.
28/f, building b,
changxing plaza, huaqiang north road
futian district,
shenzhen, guangdong PROVINCE 518028 PR CHINA
TEL: 86 (0)
755-61683976
FAX: 86 (0)
755-61683970
***Note: SC’s
headquarters address should be the heading one, instead of the (14th Floor, 9
Section, Rongchao Business Centre, 6006, Yitian Road).
EXECUTIVE SUMMARY
Date of Registration : OCTOBER 16, 2008
REGISTRATION NO. : 440301103662393
LEGAL FORM : Limited
Liability Company
REGISTERED CAPITAL :
CNY 10,000,000
staff : 160
BUSINESS CATEGORY :
MANUFACTURING & TRADING
Revenue : N/A (AS
OF DEC. 31, 2013)
EQUITIES : N/A (AS
OF DEC. 31, 2013)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : Ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.24 = 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 one-person limited liabilities company of PRC on October 16, 2008. However, SC changed to
present legal form, and was registered as a limited liabilities company of PRC
with State Administration of Industry & Commerce (SAIC) under registration
No.: 440301103662393 on August
20, 2011.
SC’s Organization Code Certificate
No.: 68037011-9
SC’s Tax No.: 440300680370119
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 10,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
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Registered Capital |
CNY 100,000 |
CNY 2,000,000 |
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|
Legal Representative |
Yang Min |
Xu Bin |
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Registered
Capital |
CNY 2,000,000 |
CNY 10,000,000 |
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|
Legal Form |
One Person Limited Liabilities Company |
Limited Liabilities Company |
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Shareholder
(s) (% of Shareholding) |
Yang Min 100% |
Xu Bin 80% Yang Min 20% |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Xu Bin |
80 |
|
Yang Min |
20 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Xu Bin |
|
Supervisor |
Huang
Hai’e |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Xu Bin 80
Yang Min 20
MANAGEMENT
Xu Bin, Legal
Representative, Chairman and General Manager
------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2011 to present, working in SC as legal representative,
chairman and general manager
Supervisor
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Huang Hai’e
BUSINESS OPERATION
SC’s registered business scope includes manufacturing communication
equipment, electronic products, mobile phones and related accessories; computer
hardware and software development; importing and exporting goods and
technology.
SC is
mainly engaged in manufacturing and selling communication equipment.
Brand: TELACOM
SC’s
products mainly include: mobile phone.
SC sources its materials 100% from domestic market, mainly Guangdong. SC sells 100% of its products to overseas market.
The buying
terms of SC include Check, T/T and Credit of 30-60 days. The payment terms of
SC include L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 160
staff at present.
SC rents an area
as its operating office and factory, but the detailed information is unknown.
RELATED COMPANY
SC is known to have 2
branches at present,
Shenzhen Telacom Science & Technology Co., Ltd. Guangming Branch
Shenzhen Telacom Science & Technology Co., Ltd. Tianliao Branch
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 SAIC.
FINANCIALS
The financials of SC is not available in
local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered small-sized in its line with
a development history of 6 years. Credit dealings with SC in small amount
appear acceptable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.48 |
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|
1 |
Rs.98.67 |
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Euro |
1 |
Rs.79.80 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
PDT |
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.