MIRA INFORM REPORT
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Report Date : |
21.10.2014 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN CHINO-E COMMUNICATION CO., LTD. |
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Registered Office : |
Chino-E Industrial Building, Niulanqian, Longhua Town, Baoan District, Shenzhen, Guangdong Province 518109 PR |
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Country : |
China |
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Date of Incorporation : |
22.10.1997 |
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Com. Reg. No.: |
440306104085110 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject is engaged in the manufacturing and selling telephones, fax
machines, electronic products, mobile phones, wireless terminal, computer
software / hardware, network terminal products, video communications terminal
products, data products, and digital products, and import & export
business; technology development and sales of electronic device &
microelectronic devices; domestic commerce (excluding the products
previlaged, prohibited or franchised); industry development |
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No. of Employees : |
1,000 |
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 – June 1, 2014
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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.
|
Source
: CIA |
Company
name and address
SHENZHEN CHINO-E COMMUNICATION
CO., LTD.
CHINO-E INDUSTRIAL BUILDING, NIULANQIAN, LONGHUA TOWN
BAOAN DISTRICT, SHENZHEN, GUANGDONG PROVINCE 518109 PR CHINA
TEL: 86 (0) 755-28194913
FAX: 86 (0) 755-28194132
EXECUTIVE
SUMMARY
Date of Registration : october 22, 1997
REGISTRATION NO. : 440306104085110
LEGAL FORM : Shares limited company
CHIEF EXECUTIVE :
wang qingyun (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 156,060,175
staff :
1,000
BUSINESS CATEGORY : manufacturing & trading
Revenue :
n/a (AS
OF DEC. 31, 2013)
EQUITIES :
n/a (AS
OF DEC. 31, 2013)
WEBSITE : www.chino-e.com
E-MAIL :
n/a
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.25 = 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.:
440306104085110.
SC’s Organization Code Certificate No.:
27939209-8
SC’s Tax No.: 440306279392098
SC’s Customs Registration No.: 4403964834
SC’s registered capital: CNY 156,060,175
SC’s paid-in capital: CNY 156,060,175
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2011-03-04 |
Shareholder (s) (% of Shareholding) |
Shi Lisun 2.10% Zhang Guolin 3.08% Ma Zibin 5.14% Wang Qingyun 86.60% Chen Jili 3.08% |
Ma Zibin 5.14% Wang Zhouming 18.00% Zhang Guolin 3.08% Shi Lisun 2.10% Chen Jili 3.08% Wang Qingyun 68.60% |
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2011-03-25 |
Registered Capital |
CNY 22,000,000 |
CNY 24,149,300 |
|
Shareholder (s) (% of Shareholding) |
Ma Zibin 5.14% Wang Zhouming 18.00% Zhang Guolin 3.08% Shi Lisun 2.10% Chen Jili 3.08% Wang Qingyun 68.60% |
Wang Qingyun 62.49% Lai Qishou 0.45% Shi Lisun 1.91% Zhang Guolin 2.81% Wang Zhouming 16.40% Wu Tianxiang 0.45% Zhang Kaishi 3.50% Zheng Jinjian 4.50% Chen Jili 2.81% Ma Zibin 4.68% |
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2011-07-12 |
Registered Capital |
CNY 24,149,300 |
CNY 96,000,000 |
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2011-12-14 |
Registered Capital |
CNY 96,000,000 |
cny 110,000,000 |
|
Shareholder (s) (% of Shareholding) |
Wang Qingyun 62.49% Lai Qishou 0.45% Shi Lisun 1.91% Zhang Guolin 2.81% Wang Zhouming 16.40% Wu Tianxiang 0.45% Zhang Kaishi 3.50% Zheng Jinjian 4.50% Chen Jili 2.81% Ma Zibin 4.68% |
Shi Lisun 1.6696% Chen Jili 2.4487% Wang Zhouming 14.3110% Zhang Guolin 2.4487% Wu Tianxiang 0.3927% Dongfang Fuhai (Wuhu) Equity Investment Fund
(Limited Partnership) 4.0668% Zhang Kaishi 3.0546% Wanjiang (Wuhu) Logistic Industry Investment
Fund (Limited Partnership) 6.7466% Dongfang Fuhai (Wuhu) No. 2 Equity Investment
Fund (Limited Partnership) 1.9138% Zheng Jinjian 3.9273% Wang Qingyun 54.5408% Ma Zibin 4.0867% Lai Qishou 0.3927% |
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|
2014-3-26 |
Registered Capital |
cny 110,000,000 |
CNY 156,060,175 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Shi Lisun |
1.6696 |
|
Chen Jili |
2.4487 |
|
Wang Zhouming |
14.3110 |
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Zhang Guolin |
2.4487 |
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Wu Tianxiang |
0.3927 |
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Dongfang Fuhai (Wuhu) Equity Investment Fund
(Limited Partnership) |
4.0668 |
|
Zhang Kaishi |
3.0546 |
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Wanjiang (Wuhu) Logistic Industry Investment
Fund (Limited Partnership) |
6.7466 |
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Dongfang Fuhai (Wuhu) No. 2 Equity
Investment Fund (Limited Partnership) |
1.9138 |
|
Zheng Jinjian |
3.9273 |
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Wang Qingyun |
54.5408 |
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Ma Zibin |
4.0867 |
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Lai Qishou |
0.3927 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Wang Qingyun |
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General Manager |
Huo Baozhuang |
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Director |
Zhou Hanjun |
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Kong Weimin |
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Ma Zibin |
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Zheng Jinjian |
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Shi Lisun |
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Chen Jili |
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Zhang Yi |
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Wang Zhouming |
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Supervisor |
Peng Weizhou |
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Zhang Guolin |
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Han Xuesong |
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Wang Ruiting |
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|
Zhang Kaishi |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Shi Lisun 1.6696
Chen Jili 2.4487
Wang Zhouming 14.3110
Zhang Guolin 2.4487
Wu Tianxiang 0.3927
Dongfang Fuhai (Wuhu) Equity Investment Fund 4.0668
Zhang Kaishi 3.0546
Wanjiang (Wuhu) Logistic Industry Investment Fund 6.7466
Dongfang Fuhai (Wuhu) No. 2 Equity Investment Fund） 1.9138
Zheng Jinjian 3.9273
Wang Qingyun 54.5408
Ma Zibin 4.0867
Lai Qishou 0.3927
***Note: The above
shareholding information was SC’s former ones, and the former registered
capital was CNY 110,000,000. But SC’s new shareholding information has not been
on file at local SAIC.
MANAGEMENT
Wang Qingyun,
Legal Representative and Chairman
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Gender: M
Qualification: University
Working experience
(s):
At present, working in SC as legal representative and chairman
Huo Baozhuang,
General Manager
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Gender: M
Qualification: University
Working experience
(s):
At present, working in SC as general manager
Director
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Zhou Hanjun
Kong Weimin
Ma Zibin
Zheng Jinjian
Shi Lisun
Chen Jili
Zhang Yi
Wang Zhouming
Supervisor
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Peng Weizhou
Zhang Guolin
Han Xuesong
Wang Ruiting
Zhang Kaishi
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and
selling telephones, fax machines, electronic products, mobile phones, wireless
terminal, computer software / hardware, network terminal products, video
communications terminal products, data products, and digital products, and
import & export business; technology development and sales of electronic
device & microelectronic devices; domestic commerce (excluding the products
previlaged, prohibited or franchised); industry development (projects need to
be reported for authorization); and ordinary road freight.
SC is mainly engaged in manufacturing and selling telephones, fax
machines, electronic products, mobile phones, wireless terminal
SC’s products mainly include: telephones, fax machines, electronic
products, mobile phones, wireless terminal,
SC sources its materials 100% from domestic market, mainly Shenzhen. SC
sells 60% of its products in domestic market, and 40% to overseas market,
mainly Southeast Asia, etc.
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.
Staff &
Office:
--------------------------
SC is known to have approx. 1,000
staff at present.
SC owns an area as its operating office and factory, but the detailed
information is unknown.
RELATED COMPANY
SC is not known to have any subsidiary at present.
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
SC’s financials are not filed in local SAIC, and SC also refused to
release the details.
CONCLUSIONS
SC is considered large-sized in its line with 17 business history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.29 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.78.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
|
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.