MIRA
INFORM REPORT
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Report No. : |
329704 |
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Report Date : |
02.07.2015 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN SDGI OPTICAL NETWORK TECHNOLOGIES
CO., LTD. |
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Registered Office : |
3/F, Block A, Penglongpan Science Park, Dafu Industry 2nd Road, Dafu Industrial Zone, Guanlan, Baoan District, Shenzhen, Guangdong Province, 518110 Pr |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
24.12.2007 |
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Com. Reg. No.: |
440301103082643 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject is engaged in designing, developing and selling communication products
(optical fiber cable, optical device, optical access wiring products, FTTH
series products), electrical & electronic products, embedded software,
low-voltage distribution system, high voltage distribution system, outdoor
telecommunication room, outdoor communications cabinets, automatic monitoring
system of intelligent building (integrated wiring, communication and network
subsystem integration), power & environment monitoring system & spare
parts, metal sheet products, hardware products, antenna, radio frequency
module, radio frequency system, mobile base station’s various products,
communication component, wireless network cover products; .integrating,
repairing, installing, maintaining and testing various precision instrument,
system and equipment and related technological consultant and services,
researching, technological developing system software and software products;
designing, constructing, technological servicing of related projects;
importing and exporting business (with permit if needed). Manufacturing
communication products (optical fiber cable, optical device, optical access
wiring products, FTTH series products), electrical & electronic
products, embedded software,
low-voltage distribution system, high voltage distribution system, outdoor
telecommunication room, outdoor communications cabinets, automatic monitoring
system of intelligent building (integrated wiring, communication and network
subsystem integration), power & environment monitoring system & spare
parts, metal sheet products, hardware products, antenna, radio frequency
module, radio frequency system, mobile base station’s various products,
communication component, wireless network cover products. |
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No. of Employees : |
500 |
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 – 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
SHENZHEN SDGI OPTICAL NETWORK TECHNOLOGIES CO., LTD.
3/F, BLOCK A, PENGLONGPAN SCIENCE PARK, DAFU INDUSTRY 2ND
ROAD, DAFU INDUSTRIAL ZONE, GUANLAN, BAOAN DISTRICT, SHENZHEN, GUANGDONG PROVINCE, 518110 PR CHINA
TEL: 86
(0) 755-61820398 FAX: 86
(0) 755-29469356
EXECUTIVE SUMMARY
INCORPORATION DATE : Dec. 24, 2007
REGISTRATION NO. : 440301103082643
REGISTERED LEGAL FORM : SHARES LIMITED COMPANY
CHIEF EXECUTIVE :
Guo Jianmin (Legal representative)
STAFF STRENGTH :
500
REGISTERED CAPITAL : CNY 102,950,000
BUSINESS LINE :
Designing, developing, MANUFACTURING and trading
TURNOVER :
CNY 451,671,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 144,551,000 (AS OF DEC. 31, 2014)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY stable
OPERATIONAL TREND : steady
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.206 = 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
Note: SC is also known as Shenzhen SDG Information Optical Network
Technology Co., Ltd.
SC was registered as a shares limited company at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Dec. 24, 2007.
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 5M. while that of the co. with foreign investment is CNY
5M. The total capital of a co. which propose to apply for publicly listed
must be no less than CNY 30M. 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 designing, developing and
selling communication products (optical fiber cable, optical device, optical
access wiring products, FTTH series products), electrical & electronic
products, embedded software, low-voltage distribution system, high voltage
distribution system, outdoor telecommunication room, outdoor communications
cabinets, automatic monitoring system of intelligent building (integrated
wiring, communication and network subsystem integration), power & environment
monitoring system & spare parts, metal sheet products, hardware products,
antenna, radio frequency module, radio frequency system, mobile base station’s
various products, communication component, wireless network cover products;
.integrating, repairing, installing, maintaining and testing various precision
instrument, system and equipment and related technological consultant and
services, researching, technological developing system software and software
products; designing, constructing, technological servicing of related projects;
importing and exporting business (with permit if needed). Manufacturing
communication products (optical fiber cable, optical device, optical access
wiring products, FTTH series products), electrical & electronic products, embedded software, low-voltage distribution
system, high voltage distribution system, outdoor telecommunication room,
outdoor communications cabinets, automatic monitoring system of intelligent
building (integrated wiring, communication and network subsystem integration),
power & environment monitoring system & spare parts, metal sheet
products, hardware products, antenna, radio frequency module, radio frequency
system, mobile base station’s various products, communication component,
wireless network cover products.
SC is mainly engaged in designing, developing, manufacturing and selling
communication products.
Guo Jianmin is legal representative and general manager of SC at
present.
SC is known to have approx. 500 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 Shenzhen.
Detailed premise information is unspecified.
SC’s another business address is located in: No. 2 Kefeng Road, Science
Park, Nanshan District, Shenzhen.
http://www.ontcable.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-Mail: yizn@sdgi.com.cn
Changes
of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2008-11-10 |
Registered capital |
CNY 14,000,000 |
CNY 30,000,000 |
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2010-9-30 |
Registered capital |
CNY 30,000,000 |
CNY 35,510,000 |
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2011-9-21 |
Registered capital |
CNY 35,510,000 |
CNY 50,000,000 |
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2013-12-3 |
Registered capital |
CNY 50,000,000 |
CNY 77,993,800 |
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2014-11-17 |
Registered capital |
CNY 77,993,800 |
Present Amount |
Organization code: 670021097
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shenzhen SDG Information Co., Ltd. 61.00
Other shareholders 39.00
Shenzhen SDG Information Co., Ltd.
---------------------------------------------
Reg. No.: 440301103109892
Legal representative: Wang Bao
Incorporation date: July 29, 1999
Web: www.sdgi.com.cn
Email: zhangdj@sdgi.com.cn
Tel.: 0755-26506648
Fax: 0755-26506800
The company listed in Shenzhen Stock Exchange Market with code 000070 on
May 11, 2000.
Chairman:
Cheng Peng is currently responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as chairman.
Legal
representative & General manager:
Guo Jianmin is currently responsible for the daily management of SC.
Working Experience(s):
At present Working in SC
as legal representative and general manager
Directors:
…………
Jiang Qinjian
Zhang Dajun
Wu Jinliang
Supervisors:
……………
Fang Yong
Tan Weiqing
Ding Hong
SC is mainly engaged in designing, developing, manufacturing and selling
communication products.
SC’s products mainly include wiring, optical devices (PLC, connector,
patch cord, adapter, and attenuator), cable.
SC sources its materials 90% from domestic market and 10% from overseas
market. SC sells 70% of its products in domestic market, and 30% to the
overseas market.
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 refused to release its major suppliers and clients.
Trademark &
Patents
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Registration No. |
12881942 |
8272677 |
12638733 |
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Registration Date |
2014-10-28 |
2011-5-14 |
2014-12-28 |
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Trademark Design |
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Guangdong SDG
Information Optical Cable Co., Ltd. (literal translation)
Shenzhen SDG Information Optical Fiber Co., Ltd.
(literal translation)
Shenzhen
SDGI Photoelectricity Technologies Co., Ltd.
Shenzhen Tefa Taike Communication Technology Co.,
Ltd. (literal translation)
Chongqing SDG Bohua Optical Cable Co., Ltd.
(literal translation)
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.
SC refused to release its banking information.
Financial
Summary
Unit: CNY’000
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As of Dec. 31,
2013 |
As of Dec. 31,
2014 |
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Total Liabilities |
174,353 |
276,829 |
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Shareholders equities |
98,989 |
144,551 |
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Total Assets |
273,342 |
421,380 |
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========== |
=========== |
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Turnover |
261,446 |
451,671 |
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Net profit |
11,829 |
27,689 |
Note:
SC refused to release its detailed financial statements.
Important
Ratios
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as of Dec. 31, 2013 |
as of Dec. 31, 2014 |
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*Liabilities to assets |
0.64 |
0.66 |
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*Net profit margin (%) |
4.52 |
6.13 |
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*Return on total assets (%) |
4.33 |
6.57 |
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*Turnover/Total assets |
0.96 |
1.07 |
PROFITABILITY:
FAIRLY GOOD
The turnover of SC appears fairly good in its line, and it increased in
2014.
SC’s net profit margin is average in 2013, and fairly good in 2014.
SC’s return on total assets is average in 2013, and fairly good in 2014.
SC’s turnover is in an average level, comparing with the size of its
total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC is considered medium-sized in its line with fairly stable financial
conditions. Taking into consideration of SC’s general performance, reputation
as well as market conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.62 |
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1 |
Rs.99.89 |
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Euro |
1 |
Rs.70.77 |
INFORMATION DETAILS
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Analysis Done by
: |
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.