MIRA INFORM REPORT
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Report No. : |
309132 |
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Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN LEYARD OPTO-ELECTRONIC CO., LTD. |
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Registered Office : |
Building 4, Jiaanda
Industrial Zone, Huafan Road, Dalang Street Baoan District, Shenzhen,
Guangdong Province 518109 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
03.09.2008 |
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Com. Reg. No.: |
440306103600407 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
Subject is engaged
in developing and selling LED
optoelectronic products |
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No. of Employee : |
737 |
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 – 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
SHENZHEN LEYARD OPTO-ELECTRONIC CO., LTD.
BUILDING 4, JIAANDA
INDUSTRIAL ZONE, HUAFAN ROAD, DALANG STREET
BAOAN DISTRICT,
SHENZHEN, GUANGDONG PROVINCE 518109 PR CHINA
TEL: 86 (0)
755-29671180
FAX: 86 (0)
755-29671239
EXECUTIVE
SUMMARY
Date
of Registration :
september 3, 2008
REGISTRATION
NO. : 440306103600407
LEGAL
FORM : one-person Limited liabilities company
REGISTERED CAPITAL : cny 100,000,000
staff :
737
BUSINESS CATEGORY : developing & trading
Revenue :
CNY 505,384,000 (AS OF DEC. 31, 2013)
EQUITIES :
CNY 128,943,000 (AS OF DEC. 31, 2013)
WEBSITE : N/A
E-MAIL :
overseas@leyard.com
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
stable
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
average
EXCHANGE RATE :
CNY 6.25 = USD
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 September
3, 2008. However, SC changed to present legal form, and was registered
as one-person limited liabilities company of PRC with State Administration for
Industry & Commerce (SAIC) under registration No.: 440306103600407 on
December 15, 2009.
SC’s Organization Code Certificate No.: 67857730-5
SC’s Tax No.: 440300678577305
SC’s registered capital: CNY 100,000,000
SC’s paid-in capital: CNY 100,000,000
Registration
Change Record:-
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
|
Legal Representative |
Li Yong |
Li Jun |
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Registered Capital |
CNY 2,000,000 |
CNY 5,000,000 |
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Legal Form |
Limited
Liabilities Company |
One-Person
Limited Liabilities Company |
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Shareholder (s) (% of Shareholding) |
Li Yong40% Li Li60% |
Beijing Leyard Electronic Science & Technology
Co., Ltd.100% |
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Shareholder (s) |
Beijing Leyard Electronic Science & Technology
Co., Ltd. 100% |
Leyard Optoelectronic Co., Ltd. 100% |
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Registered Capital |
CNY 5,000,000 |
CNY 20,000,000 |
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Registered Capital |
CNY 20,000,000 |
cny 50,000,000 |
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Registered Capital |
cny 50,000,000 |
CNY 100,000,000 |
Current
Co search indicates SC’s shareholders & chief executives are as follows:-
|
Name
of Shareholder (s) |
%
of Shareholding |
|
Leyard Optoelectronic Co., Ltd. |
100 |
SC’s
Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Li Jun |
|
Supervisor |
Li Li |
RECENT
DEVELOPMENT
No recent
development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Leyard Optoelectronic Co., Ltd. 100
===================
Registration No.: 110000410105629
Date of Registration: August 21, 1995
Legal Form: Shares Limited Company
Registered Capital: CNY 322,733,822
Legal Representative: Li Jun
Address: No. 9 Zhenghongqi West Street, North of Summer Palace, Haidian
District, Beijing, China
Post Code: 100091
Web: www.leyard.com
MANAGEMENT
Li
Jun, Legal Representative and Chairman
----------------------------------------------------------------
Ø Gender: M
Ø Working experience
(s):
At present, working in SC as legal
representative and chairman
Also working in Leyard Optoelectronic Co.,
Ltd. as legal representative
Li
Li, Supervisor
-------------------------------
Ø Gender: M
BUSINESS
OPERATION
SC’s registered business scope includes hardware and software development, sales, leasing of LED optoelectronic
products, importing and exporting goods and technology, business of
advertising, developing and selling LED energy-saving products, design and
construction of LED energy-saving projects.
SC is mainly engaged in
developing and selling LED
optoelectronic products.
Brand: Leyard.
SC’s products mainly include: indoor led
display, outdoor led display, etc.
SC sources its materials 90% from domestic market, mainly Guangdong, and
10% from overseas market. SC sells 60% of its products in domestic market, and
40% to overseas market, mainly U.S.A., Europe, Mid East, Southeast Asia, etc.
The buying terms of SC include
Check, T/T, L/C and Credit of 30-60 days. The payment terms of SC include T/T,
L/C and Credit of 30-60 days.
*Major Customers*
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Panasonic
Enterprise Solutions Co.
D3 Led LLC.
Leyard American
Corporation
Smart Led Colombia
S.A.S.
Lloyd A Wise Co.
*Major Supplier*
---------------------
A.J.Van Deudekom BV
Staff & Office:
--------------------------
SC is known to
have approx. 737 staff at
present.
SC owns an area as its operating office
& factory of approx. 12,000 sq. meters at the heading address.
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
Basic Bank:
Industrial
and Commercial Bank of China Shenzhen Longhua Sub-branch
AC#:
4000026609201335453
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As of Dec. 31, 2011 |
As of Dec. 31, 2012 |
As of Dec. 31, 2013 |
|
Long term
investment |
0 |
0 |
0 |
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Total assets |
134,660 |
185,949 |
331,430 |
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------------- |
------------- |
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Total liabilities |
94,352 |
97,618 |
202,487 |
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Equities |
40,308 |
88,331 |
128,943 |
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------------- |
------------- |
------------- |
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Revenue |
306,059 |
341,249 |
505,384 |
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Profit before tax |
14,895 |
20,726 |
42,611 |
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Less: profit tax |
2,144 |
2,703 |
1,999 |
|
Profits |
12,751 |
18,023 |
40,612 |
Important Ratios
=============
|
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As
of Dec. 31, 2011 |
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
|
*Liabilities
to assets |
0.70 |
0.52 |
0.61 |
|
*Net profit
margin (%) |
4.17 |
5.28 |
8.04 |
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*Return on
total assets (%) |
9.47 |
9.69 |
12.25 |
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*
Revenue/Total assets |
2.27 |
1.84 |
1.52 |
FINANCIAL
COMMENTS
PROFITABILITY: FAIRLY GOOD
l
The revenue of SC appears fairly good in its line.
l
SC’s
net profit margin is average in three years.
l
SC’s
return on total assets is fairly good in three years.
LIQUIDITY: AVERAGE
l SC’s revenue is in an average
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:
Stable.
CONCLUSIONS
SC is considered
medium-sized in its line with stable financial
conditions. Taking into consideration of SC’s background and operation size.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.96.24 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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 |
|
-- |
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.