MIRA INFORM REPORT
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Report No. : |
304183 |
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Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
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Name : |
LYSON
OPTOELECTRONICS CO., LTD. |
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Registered Office : |
9/F, Building A,
Honglixing Industrial Park, Shilongzai,
Shiyan Town, Bao'an District, Shenzhen, Guangdong Province, 518108 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
17.05.2013 |
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Com. Reg. No.: |
440306107311510 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in Researching, Developing and Selling LED
Products. |
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No. of Employee : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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China |
A2 |
2a |
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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
LYSON OPTOELECTRONICS CO.,
LTD.
9/F,
Building A, Honglixing Industrial Park, Shilongzai,
Shiyan
Town, Bao'an District, Shenzhen,
GUANGDONG
PROVINCE, 518108 PR CHINA
TEL:
86 (0) 755-29304061 FAX: 86 (0)
755-23593529
EXECUTIVE
SUMMARY
INCORPORATION DATE : MAY 17, 2013
REGISTRATION NO. : 440306107311510
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH :
3
REGISTERED CAPITAL : CNY
100,000
BUSINESS LINE :
RESEARCHING, DEVELOPING and trading
TURNOVER :
CNY 0 (AS OF DEC. 31, 2013)
EQUITIES :
CNY -17,000 (AS OF DEC. 31, 2013)
PAYMENT :
AVERAGE
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
FAIR
OPERATIONAL TREND : FAIR
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.21 = 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
HISTORY
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) on May 17, 2013.
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 researching, developing and selling LED products;
domestic trade.
SC is mainly
engaged in researching, developing and selling LED products.
Mr. Yi Zhicheng (易志成) has been legal
representative, chairman and general manager of SC since May of 2013.
SC is known
to have approx. 3 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the industrial park of Shenzhen. Our checks reveal that SC
rents the total premise, but the gross area of the premise is unspecific.
WEB
SITE
http://www.lysonled.com
; http://www.outdoorled-displays.com
The two websites both belong to SC. The design is professional and the content
is well organized.
E-mail: sales@lysonled.com
KEY
EVENTS/RECENT DEVELOPMENT
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
Tax Registration Certificate No.: 440300069293024
Organization code: 069293024
LITIGATION
There is no record of litigation till now.
OWNERSHIP/MANAGEMENT
MAIN
SHAREHOLDERS:
Name % of
Shareholding
Yi Zhicheng 100
MANAGEMENT
l
Legal Representative, Chairman and General Manager:
Mr. Yi Zhicheng is currently responsible for the overall management of
SC.
Working Experience(s):
From May of 2013 to present Working in SC as legal representative,
chairman and general manager
l
Supervisor:
Zhou Danting
BUSINESS
OPERATIONS
SC is mainly
engaged in researching, developing and selling LED products.
SC’s products
mainly include:
Indoor Rental Mesh
LED Screen
Outdoor Rental
Mesh LED Screen
Rental Die-Casting
Aluminum
Outdoor Full Color
LED Display
Indoor Full Color
LED Display
Single/Double
color LED Display
LED Moving Message
Sign
LED Display
Accessories
SC sources its materials 100% from domestic
market. SC sells 100% of its products in domestic markets.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, T/T and Credit of 30-60 days.
Note: SC’s management declined to release its main clients and
suppliers.
Trademark & Patents
No record
RELATED
COMPANIES
Lyson
Optoelectronics Co., Limited (Hong Kong)
==================================
Incorporation date:
Registration no.: 1698208
Legal form: Private Company limited by shares
Active
Status: Live
PAYMENT
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.
BANKING
Bank of China Shenzhen Dalang Sub-branch
AC#：N/A
Relationship:
Normal.
FINANCIAL
HIGHLIGHTS
Balance Sheet
Unit: CNY’000
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|
as
of Dec. 31, 2013 |
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Cash & bank |
15 |
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Inventory |
0 |
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Accounts
receivable |
0 |
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Other
receivables |
0 |
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Other current
assets |
0 |
|
|
------------------ |
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Current assets |
15 |
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Fixed assets net
value |
0 |
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Projects under
construction |
0 |
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Long term
investment |
0 |
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Other assets |
0 |
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------------------ |
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Total assets |
15 |
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============= |
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Short loans |
0 |
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Accounts payable |
0 |
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Other payable |
30 |
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Accrued payroll |
2 |
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Other current
liabilities |
0 |
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|
------------------ |
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Current
liabilities |
32 |
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Long term
liabilities |
0 |
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------------------ |
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Total
liabilities |
32 |
|
Equities |
-17 |
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------------------ |
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Total
liabilities & equities |
15 |
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|
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31,
2013 |
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Turnover |
0 |
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Cost of goods
sold |
0 |
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Sales expense |
0 |
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Management expense |
29 |
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Finance expense |
1 |
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Profit before
tax |
-30 |
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Less: profit tax |
0 |
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Profits |
-30 |
Important Ratios
=============
|
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as
of Dec. 31, 2013 |
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*Current ratio |
0.47 |
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*Quick ratio |
0.47 |
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*Liabilities
to assets |
2.13 |
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*Net profit
margin (%) |
/ |
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*Return on
total assets (%) |
-200.00 |
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*Inventory
/Turnover ×365 |
/ |
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*Accounts
receivable/Turnover ×365 |
/ |
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*Turnover/Total
assets |
/ |
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* Cost of
goods sold/Turnover |
/ |
FINANCIAL
COMMENTS
PROFITABILITY:
FAIR
l
SC has no turnover in 2013.
l
SC’s return on total assets is POOR.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a poor
level.
l
SC’s quick ratio is maintained in a poor level.
l
SC has no inventory in 2013.
l
SC has no accounts receivable in 2013.
l
SC has no short-term loan in 2013.
LEVERAGE: POOR
l
The debt ratio of SC is too high.
l
The risk for SC to go bankrupt is high.
Overall financial condition of the SC: Fair.
REMARKS
SC is considered small-sized in its line with fair financial conditions.
Credit dealings with SC should be confined into C.O.D. at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.93.33 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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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 |
|
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 |
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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 |
|
<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.