MIRA INFORM REPORT
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Report Date : |
14.10.2014 |
IDENTIFICATION DETAILS
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Name : |
Shenzhen Gold Power
Tech Co., Ltd. |
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Registered Office : |
Bldg. A, Bldg. B2 Gold Power Innovation Park, Liuxian ii Road, Xinan Street, Baoan District, Shenzhen Guangdong Province 518000 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
15.11.2001 |
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Com. Reg. No.: |
440301103526224 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject is mainly engaged in
manufacturing, developing and selling high frequency switching power supply
intelligent equipment, communication equipmen. |
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No. of Employees : |
515 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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, 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 Gold Power Tech Co., Ltd.
BLDG. A, BLDG. B2 Gold Power Innovation Park,
LIUXIAN ii ROAD
XINAN STREET, baoan district, SHENZHEN
GUANGDONG province 518000 PR CHINA
TEL: 86 (0)
755-83434615/83433152/83438542/83433146/27661487
FAX: 86 (0) 755-83432651
EXECUTIVE
SUMMARY
Date
of Registration :
november 15, 2001
REGISTRATION
NO. : 440301103526224
LEGAL
FORM : SHARES LIMITED COMPANY
REGISTERED
CAPITAL : cny 56,257,300
staff :
515
BUSINESS
CATEGORY : MANUFACTURING &
developing & trading
Revenue :
CNY 244,640,000 (AS OF DEC. 31, 2013)
EQUITIES :
CNY 260,580,000 (AS OF DEC. 31, 2013)
WEBSITE : www.cloud-power.com.cnhttp://www.chinasunmaster.com/http://www.xazhongwei.com/http://www.xjsada.net/
E-MAIL :
Cehua@gold-power.commailto:info@chinasunmaster.commailto:xjsada@vip.sina.com
PAYMENT
:
AVERAGE
MARKET
CONDITION :
COMPETITIVE
FINANCIAL
CONDITION : FAIRLY
STABLE
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 limited liabilities
company of PRC on November 15, 2001.
However, SC changed to present legal form, and was registered as a shares
limited company of PRC with State Administration for Industry & Commerce
(SAIC) under registration No.: 440301103526224 on November 11, 2010.
SC’s Organization Code Certificate No.: 73307230-0
SC’s Tax No.: 440301733072300
SC’s registered capital: CNY 56,257,300
SC’s paid-in capital: CNY 56,257,300
Registration
Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2005-11-15 |
Registered Capital |
CNY 1,000,000 |
CNY 5,000,000 |
|
% of Shareholding |
Zhao Wenlei 10% Jiang Zhongwei 90% |
Zhao Wenlei 2% Jiang Zhongwei 98% |
|
|
2006-04-26 |
Registered Capital |
CNY 5,000,000 |
CNY 44,650,000 |
|
2008-07-28 |
Registered Capital |
CNY 44,650,000 |
CNY 49,611,112 |
|
Shareholder (s) (% of Shareholding) |
Zhao Wenlei 2% Jiang Zhongwei 98% |
Shanghai Yuheng Investment & Management
Co., Ltd. 3.5% Zhao Wenlei 1.8% Zhou Zhou 0.5% Zhang Ning 3.3% Hunan Ruichi Fenghe Venture Capital
Management Co., Ltd. 1% Jiang Zhongwei 88.2% Yang Xiaoling 1.7% |
|
|
Registration No. |
4403012077436 |
440301103526224 |
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2009-01-06 |
Registered Capital |
CNY 49,611,112 |
CNY 44,650,000 |
|
Shareholder (s) (% of Shareholding) |
Shanghai Yuheng Investment & Management
Co., Ltd. 3.5% Zhao Wenlei 1.8% Zhou Zhou 0.5% Zhang Ning 3.3% Hunan Ruichi Fenghe Venture Capital
Management Co., Ltd. 1% Jiang Zhongwei 88.2% Yang Xiaoling 1.7% |
Zhao Wenlei 2% Jiang Zhongwei 98% |
|
|
2010-08-30 |
Registered Capital |
CNY 44,650,000 |
CNY 51,626,600 |
|
Shareholder (s) (% of Shareholding) |
Zhao Wenlei 2% Jiang Zhongwei 98% |
Tianjin Dachen Chuangshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 7.23% Tianjin Dachen Shengshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 6.28% Zhao Wenlei 1.73% Jiang Zhongwei 84.76% |
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2010-11-11 |
Legal Form |
Limited Liabilities Company |
Shares Limited Company |
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Company Chinese Name |
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2011-12-26 |
Shareholder (s) (% of Shareholding) |
Tianjin Dachen Chuangshi Equity Investment Fund
Partnership Enterprise (Limited Partnership) 7.23% Tianjin Dachen Shengshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 6.28% Zhao Wenlei 1.73% Jiang Zhongwei 84.76% |
Tianjin Dachen Chuangshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 7.23% Zhao Wenlei 1.73% Jiang Zhongwei 80.83% Tianjin Dachen Shengshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 6.28% Shenzhen Xiande Zhengrui Investment
Enterprise (Limited Partnership) 3.93% |
|
2012-03-22 |
Registered Capital |
CNY 51,626,600 |
CNY 56,512,600 |
|
Shareholder (s) (% of Shareholding) |
Tianjin Dachen Chuangshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 7.23% Zhao Wenlei 1.73% Jiang Zhongwei 80.83% Tianjin Dachen Shengshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 6.28% Shenzhen Xiande Zhengrui Investment
Enterprise (Limited Partnership) 3.93% |
Tianjin Dachen Shengshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 5.7405% Zou Zhenfu 1.1527% Shenzhen Xiande Zhengrui Investment
Enterprise (Limited Partnership) 4.3392% Zhou Ren 3.7466% Jiang Zhongwei 73.0895% Beijing Huachen Growth Equity Investment
Fund (Limited Partnership) 3.7466% Zhao Wenlei 1.5802% Tianjin Dachen Chuangshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 6.6047% |
|
|
2012-05-16 |
Registered Capital |
CNY 56,512,600 |
CNY 59,482,100 |
|
Shareholder (s) (% of Shareholding) |
Tianjin Dachen Shengshi Equity Investment Fund
Partnership Enterprise (Limited Partnership) 5.7405% Zou Zhenfu 1.1527% Shenzhen Xiande Zhengrui Investment
Enterprise (Limited Partnership) 4.3392% Zhou Ren 3.7466% Jiang Zhongwei 73.0895% Beijing Huachen Growth Equity Investment
Fund (Limited Partnership) 3.7466% Zhao Wenlei 1.5802% Tianjin Dachen Chuangshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 6.6047% |
Beijing Huachen Growth Equity Investment
Fund (Limited Partnership) 3.5596% Zhao Wenlei 1.6694% Shenzhen Hexingwei Investment Enterprise
(Limited Partnership) 2.6714% Shenzhen Hexingda Investment Enterprise
(Limited Partnership) 2.1527% Shenzhen Xiande Zhengrui Investment
Enterprise (Limited Partnership) 4.1226% Jiang Zhongwei 69.4407% Tianjin Dachen Shengshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 5.4539% Zou Zhenfu 1.0951% Tianjin Dachen Chuangshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) 6.2750% Zhou Ren 3.5596% |
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|
2014-04-10 |
Registered Capital |
CNY 59,482,100 |
CNY 56,257,300 |
Current Co
search indicates SC’s shareholders & chief executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Beijing Huachen Growth Equity Investment
Fund (Limited Partnership) |
3.5596 |
|
Zhao Wenlei |
1.6694 |
|
Shenzhen Hexingwei Investment Enterprise
(Limited Partnership) |
2.6714 |
|
Shenzhen Hexingda Investment Enterprise
(Limited Partnership) |
2.1527 |
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Shenzhen Xiande Zhengrui Investment
Enterprise (Limited Partnership) |
4.1226 |
|
Jiang Zhongwei |
69.4407 |
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Tianjin Dachen Shengshi Equity Investment
Fund Partnership Enterprise (Limited Partnership) |
5.4539 |
|
Zou Zhenfu |
1.0951 |
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Tianjin Dachen Chuangshi Equity Investment Fund
Partnership Enterprise (Limited Partnership) |
6.2750 |
|
Zhou Ren |
3.5596 |
SC’s Chief
Executives:-
|
Position |
Name |
|
Legal Representative, Chairman and General
Manager |
Jiang Zhongwei |
|
Director |
Song Xing |
|
Zhao Wenlei |
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|
Fan Xiaoming |
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|
Wang Jian |
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Supervisor |
Zhao Guofu |
|
Hu Yuanjiang |
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|
Chen Yunyun
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RECENT
DEVELOPMENT
No recent
development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Beijing Huachen Growth Equity Investment Fund (Limited Partnership) 3.5596
Zhao Wenlei 1.6694
Shenzhen Hexingwei Investment Enterprise (Limited Partnership) 2.6714
Shenzhen Hexingda Investment Enterprise (Limited Partnership) 2.1527
Shenzhen Xiande Zhengrui Investment Enterprise (Limited Partnership) 4.1226
Jiang Zhongwei 69.4407
Tianjin Dachen Shengshi Equity Investment Fund Partnership
Enterprise (Limited Partnership) 5.4539
Zou Zhenfu 1.0951
Tianjin Dachen Chuangshi Equity Investment Fund Partnership
Enterprise (Limited Partnership) 6.2750
Zhou Ren 3.5596
MANAGEMENT
Jiang Zhongwei, Legal
Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------------
Ø Gender: M
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman and general manager
Director
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Song Xing
Zhao
Wenlei (Also working in Shenzhen Gold Power Electron Co., Ltd. as legal
representative)
Fan Xiaoming
Wang Jian
Supervisor
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Zhao Guofu
Hu Yuanjiang
Chen Yunyun
BUSINESS
OPERATION
SC’s registered business scope includes manufacturing, developing, and selling high frequency switching power
supply intelligent equipment, communication equipment, automobile lamp, HID
automobile electronic ballast and lamp electronic ballast; domestic trade;
importing and exporting commodities and technology.
SC is mainly engaged in manufacturing,
developing and selling high frequency switching power supply intelligent
equipment, communication equipment, etc.
SC’s products mainly include:
Intelligent AC distribution Cabinet
Rectifier Cabinet
DC Distribution Cabinet
Inverter Cabinet
Etc.
Brand: Gold Power
SC sources its materials 100% from domestic market. SC sells 60% of its
products in domestic market, and 40% to overseas market, mainly U.S.A.,
Southeast Asia, etc.
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.
*Major Client*
------------------
Plant Growers Workshop Inc.
Staff
& Office:
--------------------------
SC is known to have approx. 515 staff at present.
SC owns an area as its operating office and
factory, but the detailed information is unknown.
RELATED
COMPANY
Subsidiaries,
Shenzhen Gold Power Electron Co., Ltd.
Registration No.: 440301102772380
Legal Form: One-person Limited Liabilities Company
Registered Capital: CNY 5,000,000
Legal Representative: Zhao Wenlei
Etc.
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
Financial Summary
|
Unit:
CNY’000 |
As of Dec. 31, 2013 |
|
Total
assets |
513,310 |
|
|
------------- |
|
Total
liabilities |
252,730 |
|
Equities |
260,580 |
|
|
------------- |
|
Revenue |
244,640 |
|
Profits |
10,640 |
Important Ratios
=============
|
|
As of Dec. 31, 2013 |
|
*Liabilities to assets |
0.49 |
|
*Net profit margin (%) |
4.35 |
|
*Return on total assets (%) |
2.07 |
|
*Revenue / Total assets |
0.48 |
FINANCIAL
COMMENTS
PROFITABILITY: AVERAGE
l
The
revenue of SC appears fairly good in its line.
l
SC’s
net profit margin is average.
l
SC’s
return on total assets is average.
LIQUIDITY: FAIR
l SC’s revenue is in a fair level, comparing
with the size of its total assets.
LEVERAGE: AVERAGE
l The debt ratio of SC is average.
l The risk for SC to go bankrupt is average.
Overall financial condition of the SC:
Fairly Stable.
CONCLUSIONS
SC is considered
medium-sized in its line with fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.25 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
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|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
|
|
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 |
|
|
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.