MIRA
INFORM REPORT
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Report No. : |
308059 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
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Name : |
HEFEI
TAIHE OPTOELECTRONIC TECHNOLOGY CO., LTD. |
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Registered Office : |
No. D-1, Science & Technology Industrial Park, No. 168 Xiangzhang Avenue, High-Tech Zone Of Hefei, Anhui Province, 230088 PR |
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Country : |
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Date of Incorporation : |
10.12.2004 |
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Com. Reg. No.: |
340106000025377 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
· Engaged in R & D and transferring optical, software, artificial intelligent vision, control technology, robot and system Engaged in manufacturing and selling separation equipment
and accessories, robot and apparatus; export of its products and technology
and import and export technology and machinery equipment, parts, raw
materials for the enterprise. Engaged in manufacturing and selling rice color sorter. Subject product ranges includes rice color sorter, grain
color sorter, wheat color sorter, belt color sorter, color sorters for
industrial goods, tea color sorter, peanut color sorter, wolfberry color
sorter, beans color sorter and customization of color sorters. |
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No. of Employees : |
289 (Approximately) |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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
HEFEI
TAIHE OPTOELECTRONIC TECHNOLOGY CO., LTD.
NO.
D-1, Science & Technology Industrial Park, No. 168 Xiangzhang Avenue, High-tech
Zone of Hefei, Anhui Province, 230088 PR CHINA
TEL: 86
(0) 551-65399996/68588468
FAX: 86
(0) 551-68588883
EXECUTIVE SUMMARY
INCORPORATION DATE :
DEC. 10, 2004
REGISTRATION NO. :
340106000025377
REGISTERED LEGAL FORM : SHARES LIMITED COMPANY
STAFF STRENGTH :
289 (Approximately)
REGISTERED CAPITAL : CNY 56,970,000
BUSINESS LINE :
MANUFACTURING, SELLING, R&D
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
Unknown
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.1192 = 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 Ren Min Bi
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 Dec. 10, 2004 and has been under present
ownership since Jun., 2012.
Company
Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The co has independent
property of legal person and enjoys property rights of legal person. The
characteristics of the shares limited co. are as follows: The establishment of the co.
requires at least two promoters and no more than 200, half
of whom shall be domiciled in The minimum registered
capital of a co. is CNY The board of directors must
consist of five to nineteen directors. If the co. raises
capital by public offer, the promoters must not subscribe less than 35% of
the total shares. the promoters’ shares are restricted to transfer- within
one year of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered business scope includes R & D and transferring
optical, software, artificial intelligent vision, control technology, robot and
system; manufacturing and selling separation equipment and accessories, robot
and apparatus; export of its products and technology and import and export technology
and machinery equipment, parts, raw materials for the enterprise.
SC is mainly
engaged in R&D, manufacturing and selling rice color sorter.
Mr. Xu Dahong has
been the legal representative and chairman of SC since 2004.
SC is known
to have approx. 289 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and R&D Center in the hi-tech zone of Hefei, while its
factory is in the Economic Development Zone, Hefei. The detailed information of
the area is unspecified.
Factory
Address: the intersection of Senlin Avenue and Fangxing Avenue, Expand Zone of
Taohua Industrial Park, Economic Development Zone, Hefei, Anhui Province
www.colorsort.cn
The
design is professional and the content is well organized. At present it is in
Chinese, English and other versions.
E-mail: thsorter@colorsort.cn
SC obtained the certificate of ISO9001:2000 and CE certificate.
SC was awarded Grade AAA Quality Reputation Unit.
SC was awarded High–Tech Enterprise in 2007.
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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2010 |
Registered capital |
CNY 3,000,000 |
CNY 3,817,800 |
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Unknown |
Registered capital |
CNY 3,817,800 |
CNY 5,100,000 |
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Registered no. |
3401002020228 |
Present one |
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2012-6 |
Legal form |
limited liabilities co. |
Shares limited co. |
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Company name |
合肥泰禾光电科技有限公司 Present one |
Present one |
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Registered capital |
CNY 5,100,000 |
Present amount |
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Shareholders |
Xu Dahong 50.5972% Ge Suhui 8.9889% Yan Tianxin 8.8784% Tang Lin 8.0569% Zhejiang
Zhengmao Venture Investment Co., Ltd. 4.8973% Hidea (Tianjin)
Investment Management Co., Ltd. 4.1706% Xinjiang Jingyi
Stock Investment Partnership (Limited
Partnership) 3.9810% Ningbo
Haidadingxing Venture Capital Co., Ltd. 3.2227% Guo Peng 2.8436% Wu Jiantong 1.5987% Other 26
Individuals 2.7647% |
Present ones |
Note: SC changed its Chinese name in 2012, while its English name
remains the same.
Subject
passed the annual inspection of 2012 with Administration for Industry &
Commerce.
Organization
Code: 769029427
MAIN SHAREHOLDER:
Name Amount
(CNY) % of Shareholding
Xu Dahong 28,879,200 50.69
Ge Suhui 5,121,000 8.99
Yan Tianxin 5,058,000 8.88
Tang Lin 4,590,000 8.06
Zhejiang Zhengmao Venture Investment Co.,
Ltd. 2,790,000 4.90
Hidea (Tianjin) Investment Management Co.,
Ltd. 2,376,000 4.17
Xinjiang Jingyi Stock Investment Partnership
(Limited Partnership) 2,268,000 3.98
Ningbo Haidadingxing Venture Capital Co.,
Ltd. 1,836,000 3.22
Guo Peng 1,620,000 2.84
Wu Jiantong 910,800 1.60
Other 25 Individuals 1,521,000 2.67
Legal
representative and Chairman:
Mr. Xu Dahong, ID# 34012219761113XXXX, born
in 1976. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2004 to present Working
in SC as legal representative and chairman
Other official:
Lu Taiping
SC is mainly
engaged in R&D, manufacturing and selling rice color sorter.
SC’s products
mainly include: rice color sorter, grain color sorter, wheat color sorter, belt
color sorter, color sorters for industrial goods, tea color sorter, peanut
color sorter, wolfberry color sorter, beans color sorter and customization of
color sorters.
SC sources its
materials 70% from domestic market, and 30% from overseas market. SC sells 50%
of its products in domestic market, and 50% to the overseas markets.
The buying terms of SC include Check, T/T, L/C 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 suppliers and clients.
TRADEMARKS & PATENTS
Registration No.: 10623010
Registration Date:
Trademark Design: 
Registration No.: 10622987
Registration Date:
Trademark Design: 
Registration No.: 10623074
Registration Date:
Trademark Design:
SC
is not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good (X) Unknown ( )
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.
Huishang Bank Lujiang Road Sub-branch
AC#：1021601021000213875
Relationship:
Normal.
SC’s management declined to release its financial details.
SC is considered medium-sized in its line with a development history of
10 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.14 |
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1 |
Rs.95.78 |
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Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
MNL |
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.