MIRA INFORM REPORT
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Report No. : |
335746 |
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Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
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Name : |
YOAU ELECTRIC CO., LTD. |
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Registered Office : |
Lijia Industrial Zone, Lijia Town, Wujin District, Changzhou City,
Jiangsu Province, 213176 Pr |
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Country : |
China |
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Date of Incorporation : |
11.08.2005 |
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Com. Reg. No.: |
320483000112327 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing, processing and selling air conditioners, refrigerators,
ovens, dehumidifiers, heaters, air purifiers, electric fans, washing machines,
dryers, freezers and accessories, refrigerators, household freezers,
humidifiers, heaters, commercial air conditioners, ventilation appliances,
refrigeration appliances, stamping parts, air conditioner parts, and molds;
installation, maintenance and testing of air conditioner; manufacturing and
processing of mechanical parts, plastic products (except medical plastic
products); selling household appliances, metal materials, plastic particles
and construction materials; self-employed and agents the import and export
business of all kinds of goods and technology (excluding the goods and
technology limited or prohibited by state). (with permit, if needed.) |
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No. of Employees : |
301 |
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, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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. In 2014 the People’s Bank of China (PBOC) doubled 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 2014 stood as the largest economy in the world, surpassing the US that year... 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 2014 more than 274 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company
Name & address
YOAU ELECTRIC CO., LTD.
LIJIA INDUSTRIAL ZONE, LIJIA TOWN, WUJIN
DISTRICT, CHANGZHOU CITY,
JIANGSU PROVINCE, 213176 PR CHINA
TEL: 86 (0) 519-83028021 FAX: N/A
EXECUTIVE
SUMMARY
INCORPORATION DATE :
AUG. 11, 2005
REGISTRATION NO. :
320483000112327
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MS. HUANG XIAOYAN (LEGAL REPRESENTATIVE)
STAFF STRENGTH :
301
REGISTERED CAPITAL : CNY 20,000,000
BUSINESS LINE :
MANUFACTURING, PROCESSING AND 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 6.2109 =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
Note: SC’s correct name should be the heading one.
SC is also known as Jiangsu Yoau Electrical Appliance Co., Ltd.
SC was registered as a Limited Liabilities Company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Aug. 11, 2005.
Company Status: Limited liabilities co. This form of
business in PR China is defined as a legal person. No more than fifty
shareholders contribute its registered capital jointly. Shareholders bear
limited liability to the extent of shareholding, and the co. is liable for
its debts only to extent of its total assets. The characteristics of this
form of co. are as follows: Upon the
establishment of the co., an investment certificate is issued to the each
of shareholders. The board of
directors is comprised of three to thirteen members. The minimum
registered capital for a co. is CNY 30,000. Shareholders
may take their capital contributions in cash or by means of tangible assets
or intangible assets such as industrial property and non-patented
technology. Cash
contributed by all shareholders must account for at least 30% of the
registered capital. Existing
shareholders have pre-exemption right to purchase shares of the co. offered
for sale by the other shareholders and to subscribe for the newly increased
registered capital of the co.
SC’s registered business scope includes: manufacturing, processing and selling
air conditioners, refrigerators, ovens, dehumidifiers, heaters, air purifiers,
electric fans, washing machines, dryers, freezers and accessories,
refrigerators, household freezers, humidifiers, heaters, commercial air
conditioners, ventilation appliances, refrigeration appliances, stamping parts,
air conditioner parts, and molds; installation, maintenance and testing of air
conditioner; manufacturing and processing of mechanical parts, plastic products
(except medical plastic products); selling household appliances, metal
materials, plastic particles and construction materials; self-employed and
agents the import and export business of all kinds of goods and technology
(excluding the goods and technology limited or prohibited by state). (with
permit, if needed.)
SC is mainly engaged in manufacturing, processing and selling
appliances. (
Ms. Huang Xiaoyan is the legal representative and general manager of SC
at present.
SC is known to have approx. 301 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 Changzhou.
The detailed premise information is unknown.
http://www.shinco.net/
The website belongs to Shinco, and it includes the information on SC and its
related companies. The design is professional and the content is well
organized. At present it is in Chinese and English versions.
E-mail: 541129203@qq.com
Changes of SC’s
registered information:
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Date |
Item |
Before changed |
After changed |
|
2015-05 |
Shareholders |
Wu Qingping: 34%, Wang Kai: 15%, Jiangsu Fengrun Electrical Equipment Group
Co., Ltd. 51% |
Present one |
Organization Code: 778039934
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wu Qingping 34
Jiangsu Fengrun Electrical Equipment Group Co., Ltd. 51
Wang Mengna 15
Jiangsu Fengrun Electrical Equipment Group Co., Ltd.
=========================
Incorporation Date: 2001-11-16
Registration No.: 320483000049394
Registered Capital: CNY 100,000,000
Chief Executive: Wu A’xing
Website: http://www.shinco.net/
Legal
Representative and General Manager:
Ms. Huang Xiaoyan ID#32042119690904****, born in 1969, is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and
general manager.
Executive
Director:
Wu Qingpin ID#32042119690708****, born in 1969, is currently responsible
for the daily management of SC.
Working Experience(s):
At present Working in SC as executive director.
Supervisor:
Wang Mengna
SC is mainly engaged in manufacturing, processing and selling
appliances.
SC’s products mainly include: Air conditioners, refrigerators, ovens,
dehumidifiers, heaters, air purifiers.
Note: SC declined to release its detailed business information.
Jiangsu Shinco Electrical Appliance Co., Ltd.
==============================
Incorporation Date: 2012-01-05
Registration No.: 320483000326376
Registered Capital: CNY 100,000,000
Chief Executive: Sun Meifeng 孙美凤
TEL: +86 757 29293020
Mobile: +86-18651209158
Email: ss01@shinco.net
HQ & Manufacturing Base:
Address: Luoyang Town, Wujin, Changzhou, Jiangsu. P.R. China
Changzhou Fengrun Import & Export Co., Ltd.
=======================================
Incorporation Date: 2013-04-27
Registration No.: 320483000370364
Registered Capital: CNY 5,000,000
Chief Executive: Huang Xiaoxin
Tel: +86 519 83028626
Fax: +86 519 83028531
Cell: +86 186 51209 166
Email: frsales@yoau.cn
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.
The banking information of SC is unknown.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with a development history of 10 years. Due to lack of financial statements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.76 |
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1 |
Rs.98.76 |
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Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
TPT |
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.