MIRA INFORM REPORT
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Report No. : |
352351 |
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Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
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Name : |
CHANGZHOU GALAXY ELECTRICAL CO., LTD. |
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Registered Office : |
No. 168 Hehai West Road, Xinbei
District, Changzhou City, Jiangsu Province, 213022 Pr |
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Country : |
China |
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Date of Incorporation : |
29.06.1994 |
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Com. Reg. No.: |
320400400001971 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject includes certified business item: nothing; common operational
projects: electrical products and
electronic components, gas meter reading system manufacturing and
installation services; and selling the products; self-management and
agent of import and export business of all kinds of goods and technology. |
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No. of Employees : |
Not Available |
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. 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 for the first time in modern history. Still, China's per capita income is below the world average.
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 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 also 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 and Address
CHANGZHOU
GALAXY ELECTRICAL CO., LTD.
NO. 168 HEHAI WEST ROAD, XINBEI DISTRICT, CHANGZHOU
CITY,
JIANGSU PROVINCE, 213022 PR CHINA
TEL: 86 (0)
519-85121212/85121188/85121177/68859090 FAX:
86 (0) 519-85121000
EXECUTIVE
SUMMARY
INCORPORATION DATE :
JUNE 29, 1994
REGISTRATION NO. : 320400400001971
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH : N/A
REGISTERED CAPITAL :
CNY 89,272,934.5
BUSINESS LINE :
MANUFACTURING AND TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.3997 = 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: the given telephone number “+86-519-5121212” is incomplete, and
the complete tel. number is the above one.
SC was registered as a one-person limited liability
company at local Administration for Industry & Commerce (AIC - The official
body of issuing and renewing business license).
Company Status: One-person Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person LLC has no shareholder
meeting.
SC’s registered business scope includes certified business item:
nothing; common operational projects: electrical
products and electronic components, gas meter reading system manufacturing and installation
services; and selling the products; self-management and agent of import
and export business of all kinds of goods and technology (excluding the goods
and technology limited or prohibited by state).
SC is mainly
engaged in manufacturing and selling electrical
products and electronic components.
Mr. Yang Senmao is
the legal representative and chairman of SC at present.
SC declined to
disclose the employee’s information.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Changzhou. Detailed
premise information is not available at present.
http://www.galaxycn.com
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
Email:
info@galaxycn.com
SC has obtained ISO9001, TS16949, ISO14001 certificates, etc.
Changes of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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Unknown |
Legal form |
Wholly foreign-owned enterprise |
Present one |
Organization Code: 60812567X
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Changzhou Galaxy Century Micro-Electronics
Co., Ltd. 100
Incorporation Date: 2006-10-08
Registered No.: 320400400019537
Legal Representative: Yang Senmao
Tel.: 86 (0) 519-68851188
Fax: 86 (0) 519-85120202
E-mail: sales@gmicroelec.com
Website: www.gmicroelec.com
l Legal representative
and Chairman:
Mr. Yang Senmao is currently responsible for
the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and
chairman.
Also working in Changzhou Galaxy Century
Micro-Electronics Co., Ltd. and Taizhou Galaxy Huanyu Semiconductor Co., Ltd.
as legal representative and chairman.
l General manager
and Director:
Yue Lian is currently responsible for the
daily management of SC.
Working Experience(s):
At present Working in SC as general manager and
director.
Also working in Changzhou Galaxy
Century Micro-Electronics Co., Ltd. and Taizhou Galaxy Huanyu Semiconductor
Co., Ltd. as general manager and director.
l Director:
Guan Xufeng
l Supervisor:
Gu Yaqing
SC is mainly
engaged in manufacturing and selling electrical
products and electronic components.
SC’s products mainly include rectifier diodes, trigger diodes,
automotive rectifiers, SOD/SOT series, phototransistor photocoupler,
etc.
SC sources its materials 100% from domestic
market. SC sells 70% of its products in domestic market and 30% to overseas
market.
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.
Note:
SC’s management declined to release its major clients and suppliers.
TRADEMARKS & PATENTS
Registration No. 1356298
Registration Date 2000-1-21
Trademark Design 
Registration No. 275727
Registration Date 1987-1-20
Trademark Design 
Registration No. 3398946
Registration Date 2004-3-14
Trademark Design 
Registration No. 3398947
Registration Date 2004-3-14
Trademark Design 
Etc.
Galaxy Semiconductor (Changzhou) Co., Ltd.
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Incorporation date: 2001-11-16
Registration no.: 320400400007307
Legal Representative: Xu Xiaoping
SC is known to
invest in the following company:
Taizhou Galaxy Huanyu Semiconductor Co., Ltd.
=================================
Incorporation Date: 2007-12-06
Registered No.: 321200400010122
Legal Representative: Yang Senmao
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 refused to
release any information of its suppliers and the trade reference was not
available.
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.
SC’s management declined
to release its bank details.
Note: we
contacted the staff of Bank of China Changzhou Branch, but she declined to
release the bank details, so we cannot confirm the given bank account no.
“474158232447”
SC’s accountant refused to release the financial information.
SC has developed for 21 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.66.62 |
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1 |
Rs.100.34 |
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Euro |
1 |
Rs.70.67 |
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CNY |
1 |
Rs.10.41 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NIT |
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.