MIRA INFORM REPORT
|
Report No. : |
331728 |
|
Report Date : |
17.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
Tongfang Co., Ltd. |
|
|
|
|
Registered Office : |
29/F, Building A, Tsinghua Tongfang Hi-Tech Plaza, Haidian District,
Beijing City, 100083 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
25.06.1997 |
|
|
|
|
Com. Reg. No.: |
110000010720704 |
|
|
|
|
Legal Form : |
Shares Limited Co. |
|
|
|
|
Line of Business : |
internet information services business excluding the contents of the
press, publishing, healthcare, pharmaceuticals and medical devices; send foreign
labor needed by the implementation of overseas projects; producing commercial
encryption products; selling commercial encryption products; producing social and public safety equipment, traffic
engineering equipment, intelligent building and municipal engineering,
electrical and mechanical equipment, electrical engineering, mechanical and
electrical equipment, energy saving; artificial environment control
equipment, communications, electronics products, microelectronics, office
equipment, instrumentation, optical electromechanical integration equipment;
manufacturing water fountain. The second type of value-added
telecommunication business of Internet access services (Beijing 1
direct-controlled municipality and Changchun, Nanchang 2 cities ) (Value-added
telecommunications business license will expire on May 3, 2017);
Manufacturing, selling, technical service and maintenance computer and
peripheral equipment; social and public safety equipment, traffic engineering
equipment, intelligent building and municipal engineering, electrical and
mechanical equipment, electrical engineering, mechanical and electrical
equipment, energy saving; selling and engineering installation artificial
environment control equipment, communications, electronics products, microelectronics,
office equipment; development and selling instrumentation, optical
electromechanical integration equipment; selling fire protection products;
consultation of the high-tech projects, transfer of high-tech and services;
property management; importing and exporting; general contractor of
construction of mechanical and electrical installation; professional
contractor of intelligent building, urban and road lighting, electrical
engineering; indoor air purification works; integration of computer systems;
designing building intelligent systems integration (excluding fire subsystem)
special project; designing, installation and commissioning water fountain;
security engineering (designing, construction); designing and installation
CATV community antenna; advertising and agency; vessel chartering;
engineering survey and design; designing and selling lighting apparatus;
basic software, application software services; selling mechanical equipment,
hardware, pay electricity, household appliances, software and auxiliary
equipment, broadcasting equipment, communications equipment, electronic
products. (With permit if needed) |
|
|
|
|
No. of Employees : |
19,682 (Including Main Subsidiaries) |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
Litigation : |
-- |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
Company
Name & address
Tongfang Co., Ltd.
29/F, Building A, Tsinghua Tongfang Hi-Tech
Plaza,
Haidian district, Beijing city, 100083 PR CHINA
TEL: 86 (0) 10-82399888 FAX: 86 (0) 10-82399765
EXECUTIVE
SUMMARY
INCORPORATION DATE : June 25, 1997
REGISTRATION NO. : 110000010720704
REGISTERED LEGAL FORM : SHARES LIMITED CO.
CHIEF EXECUTIVE :
MR. Lu zhicheng (CHAIRMAN)
STAFF STRENGTH : 19,682 (INCLUDING
MAIN SUBSIDIARIES)
REGISTERED CAPITAL : CNY
2,963,898,951
BUSINESS LINE :
R&D, manufacturing and trading
TURNOVER :
CNY 25,993,724,000 (Consolidated, as
of Dec. 31, 2014)
EQUITIES :
CNY 15,363,992,000 (Consolidated, as of Dec. 31, 2014)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : steady
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.2099 = 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: SC is also known as Tsinghua Tongfang Co., Ltd.
SC was registered as a Shares limited company at municipal
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on June
25, 1997
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 China.. Natural person are allowed to serve as promoters. 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 internet information services
business excluding the contents of the press, publishing, healthcare, pharmaceuticals
and medical devices; send foreign labor needed by the implementation of
overseas projects; producing commercial encryption products; selling commercial
encryption products; producing social
and public safety equipment, traffic engineering equipment, intelligent
building and municipal engineering, electrical and mechanical equipment,
electrical engineering, mechanical and electrical equipment, energy saving;
artificial environment control equipment, communications, electronics products,
microelectronics, office equipment, instrumentation, optical electromechanical
integration equipment; manufacturing water fountain. The second type of
value-added telecommunication business of Internet access services (Beijing 1
direct-controlled municipality and Changchun, Nanchang 2 cities ) (Value-added
telecommunications business license will expire on May 3, 2017); Manufacturing,
selling, technical service and maintenance computer and peripheral equipment;
social and public safety equipment, traffic engineering equipment, intelligent
building and municipal engineering, electrical and mechanical equipment,
electrical engineering, mechanical and electrical equipment, energy saving;
selling and engineering installation artificial environment control equipment,
communications, electronics products, microelectronics, office equipment;
development and selling instrumentation, optical electromechanical integration
equipment; selling fire protection products; consultation of the high-tech
projects, transfer of high-tech and services; property management; importing
and exporting; general contractor of construction of mechanical and electrical
installation; professional contractor of intelligent building, urban and road
lighting, electrical engineering; indoor air purification works; integration of
computer systems; designing building intelligent systems integration (excluding
fire subsystem) special project; designing, installation and commissioning
water fountain; security engineering (designing, construction); designing and
installation CATV community antenna; advertising and agency; vessel chartering;
engineering survey and design; designing and selling lighting apparatus; basic
software, application software services; selling mechanical equipment,
hardware, pay electricity, household appliances, software and auxiliary
equipment, broadcasting equipment, communications equipment, electronic
products. (With permit if needed)
SC is mainly engaged in researching, developing, manufacturing and
selling computer products.
Mr. Lu Zhicheng has been the legal representative and chairman of SC
since May, 2013.
SC is known to have approx. 19,682 (including its main subsidiaries) employees at present, including 5,049 technicians,
7,789 production staff, 461 financial staff, 2,981 sales staff and 3,402
administration staff.
SC is currently operating at the above stated address, and this address
houses its operating office and head office in the commercial zone of Beijing.
Detailed premise information is not available at present.
www.thtf.com.cn The design is professional and the content
is well organized. At present it is in Chinese and English versions.
E-mail: 600100@thtf.com.cn
See below for SC as executive party (defendant).
|
Executed Party |
Tongfang Co., Ltd. |
|
Court |
Beijing City Haidian District People's Court |
|
Date of Case |
Jan. 21, 2015 |
|
Case Number |
(2015) 04669 |
|
Claim Amount |
RMB 20,800 |
|
Case Status |
-- |
|
Executed Party |
Tongfang Co., Ltd. |
|
Court |
Beijing City Haidian District People's Court |
|
Date of Case |
Jan. 21, 2015 |
|
Case Number |
(2015) 04668 |
|
Claim Amount |
RMB 20,800 |
|
Case Status |
-- |
|
Executed Party |
Tongfang Co., Ltd. |
|
Court |
Beijing City Haidian District People's Court |
|
Date of Case |
Jan. 21, 2015 |
|
Case Number |
(2015) 04661 |
|
Claim Amount |
RMB 16,800 |
|
Case Status |
-- |
|
Executed Party |
Tongfang Co., Ltd. |
|
Court |
Beijing City Haidian District People's Court |
|
Date of Case |
Jan. 21, 2015 |
|
Case Number |
(2015) 04665 |
|
Claim Amount |
RMB 15,800 |
|
Case Status |
-- |
|
Executed Party |
Tongfang Co., Ltd. |
|
Court |
Beijing City Haidian District People's Court |
|
Date of Case |
Jan. 21, 2015 |
|
Case Number |
(2015) 04664 |
|
Claim Amount |
RMB 15,800 |
|
Case Status |
-- |
|
Executed Party |
Tongfang Co., Ltd. |
|
Court |
Beijing City Haidian District People's Court |
|
Date of Case |
Jan. 21, 2015 |
|
Case Number |
(2015) 04666 |
|
Claim Amount |
RMB 15,800 |
|
Case Status |
-- |
|
Executed Party |
Tongfang Co., Ltd. |
|
Court |
Beijing City Haidian District People's Court |
|
Date of Case |
Jan. 21, 2015 |
|
Case Number |
(2015) 04667 |
|
Claim Amount |
RMB 16,800 |
|
Case Status |
-- |
Remark: Due to the lack of information, we are unable to provide the cause of
action, judgment or other information.
SC was listed in Shanghai Stock Exchange Market on Jun. 27, 2010 with
the stock code 600100.
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2006-5-30 |
Chinese name |
清华同方股份有限公司 |
The present one |
|
2013-05 |
Legal representative |
Rong Yonglin |
The present one |
|
2015-03-18 |
Registered capital |
CNY 2,197,882,238 |
The present amounts |
Organization Code: 100026793
Tax No.: 110108100026793
Honors
======
On June, 2010, SC awarded the honorary title of "2010 China
Excellent Enterprise of social responsibility".
On December, 2009, SC awarded the 2009 Annual Conference "valuable
Enterprise"
On November, 2009, SC awarded by the National Development and Reform Commission,
Ministry of Science and Technology, Ministry of Finance, General Administration
of Customs, State Administration of Taxation jointly issued the “National
Enterprise Technology Center Achievement Award”.
On July 13, 2008, SC made into World’s top 500 brands, which it has been
evaluated by WBL.
On June 1, 2007, SC had been selected into the China’s Top 100
Electronic information Enterprise.
On August 8, 2007, SC earned National Huapu award. At same month, SC
held its proprietary Digital TV press in Hongkong.
On September of 2007, WBL publicly announced Asian Top 500 brands order.
SC was the top 123rd brand in Asia.
On December of 2007, WBL held an “Annual Top Manager” meeting in Hong
Kong. SC earned Social Contribution Award.
On March of 2006, SC had been awarded as the top 10 largest Consuming
Electronic Enterprise.
On June 10, 2006, World Brand Laboratory (WBL) evaluated SC’s brand
value, which it has been successfully merged into China’s top 500 valuable
enterprises.
MAIN SHAREHOLDERS:
(As of March 31, 2015)
Name %
of Shareholding
Tsinghua Holdings Co., Ltd. 25.42
Bosera Funds- China Industrial Bank- Bosera Asset Management Co., Ltd. 7.05
ICBC Credit Suisse-CGB-Xinjiang Shengshi Weiye Equity Investment Co.,
Ltd. 4.70
Du Guoying 3.27
Tsinghua Unigroup Ltd. 2.35
ICBC Credit Suisse Tian’an Stock Special Pensions Products-
Industrial and Commercial Bank of China Limited 2.11
Jiang Yufei 0.68
Yu Liang 0.65
Xie Renguo 0.62
Fang Minhua 0.52
Other shareholders 52.63
Tsinghua Holdings Co., Ltd.
=====================
With the approval from the State Council of the People’s Republic of
China, Tsinghua Holdings Co., Ltd. (hereinafter referred as THHC) is a solely
state-owned limited liability corporation funded by Tsinghua University based
on the integration of enterprises under Tsinghua University. With a registered
capital of 2 billion RMB, THHC is a legal entity that adopts independent
operation, takes sole responsibility for its profit and losses (self-finance
support), and has a system of self-development and self-discipline. Sound
parent-subsidiary relationships were established between THHC and its invested
enterprises through capital. THHC performs legal management on the state-owned
assets and state-owned share equity developed from its invested enterprises,
and focuses on industrialization of technical achievements, incubation of high-tech
enterprises, investment management, asset/capital operation, etc. THHC plays a
major role in enterprise development, asset integration, structure regulation
and interest coordination within Tsinghua University.
Incorporation Date: 1992-08-26
Registered No.: 110000010455517
Registered Capital: CNY 2,500,000,000
Legal Representative: Xu Jinghong
Tel.: 86 (0) 10-82150088
Website: http://www.thholding.com.cn/
Add: 25/F, Building A, S.P Tower, Tsinghua Science Park, Beijing 100084,
P.R. China
Tsinghua Unigroup Ltd.
==================
Incorporation Date: 1993-04-12
Registered No.: 110000005012685
Registered Capital: CNY 670,000,000
Legal Representative: Zhao Weiguo
Tel.: 86 (0) 10-82159955
E-mail: unigroup@unigroup.com.cn
Website: http://www.unigroup.com.cn/
Legal
Representative and Chairman:
Mr. Lu Zhicheng, born in Aug., 1948 with master’s degree. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 2013-5 to present Working
in SC as legal representative and chairman.
Also working in Tsinghua Holdings Co., Ltd. and NUCTECH Company Limited
as director, and in Tongfang Industry Co., Ltd., Shenyang Tongfang Multimedia
Technology Co., Ltd., Tongfang Technology Park Co., Ltd., Beijing Tsinghua
Tongfang Innovative Investment Co., Ltd., Tsinghua Tongfang Knowledge Network
Technology Co., Ltd. (Beijing), Tongfang Guoxin Electronics Co., Ltd. as legal
representative and chairman.
President
and Director:
Mr. Fan Xin, born in 1961 with master’s degree. He is currently
responsible for the daily management of SC.
Working Experience(s):
At present Working in SC as
president and director.
Vice-presidents:
Li Jianhang
Wang Lianghai
Wang Mingliang
Yang Zhiming
Zhou Xia
Li Jisheng
Liu Weidong
Directors:
Zuo Xiaolei
He Jia
Pan Xiaojiang
Yang Li
Zhou Liye
Zhao Weiguo
Supervisors:
Xia Donglin
Zhang Wenjuan
Liu Gang
SC is mainly engaged in researching, developing, manufacturing and
selling computer products.
SC’s products mainly include:
IT Product
Desktop computers
Notebook computers
Servers
Tablets
LED TV
Techcon 04 building automation system
EzIBS intelligent building information integrated system
Security and
protection Product
Access control card reader
Access controller
Intelligent lock
Personnel access lock
Semiconductor
Illumination Product
LED commercial lighting products:
Fluorescent lamp, ball bubble lamp, candle bulb lamp, MR16 lamp, and PAR lamp; Canister
light, our lamp, shoot the light, fresh light; Soft light,
hard light
LED industrial lighting products:
Project-light lamp, mining lamp, tent lamp, explosion-proof lamp
LED outdoor lighting products:
Street lights, solar street lamp, garden lamp, tunnel lamp
Etc.
SC sources its materials 30% from domestic markets and 70% from overseas
market. SC sells 70% of its products in domestic markets, and 30% to overseas
market.
The buying terms of SC include T/T, Check, L/C and Credit of 30-60 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
SC’s major clients and suppliers details are not disclosed.
TRADEMARKS & PATENTS
Registration No. 3270962
Registration Date Oct.
14, 2003
Trademark Design 
Registration No. 8208305
Registration Date Sep.
14, 2011
Trademark Design 
Registration No. 9188906
Registration Date March
14, 2012
Trademark Design 
Registration No. 1915899
Registration Date Nov.
21, 2002
Trademark Design 
Registration No. 7231529
Registration Date Nov.
28, 2010
Trademark Design 
Subsidiaries:
Tongfang Industry Co., Ltd.
============================
Incorporation Date: 2006-09-15
Registered No.: 110000009913260
Registered Capital: CNY 400,000,000
Legal Representative: Lu Zhicheng
Shenyang Tongfang Multimedia Technology Co., Ltd.
============================
Incorporation Date: 2004-12-08
Registered No.: 210132000012523
Registered Capital: CNY 318,000,000
Legal Representative: Lu Zhicheng
Tongfang Technology Park Co., Ltd.
============================
Incorporation Date: 1999-10-21
Registered No.: 110000000913786
Registered Capital: CNY 50,000,000
Legal Representative: Lu Zhicheng
Beijing Tsinghua Tongfang Innovative Investment Co., Ltd.
============================
Incorporation Date: 1999-05-07
Registered No.: 110000000338915
Registered Capital: CNY 180,000,000
Legal Representative: Lu Zhicheng
NUCTECH Company Limited
============================
Incorporation date: 2000-12-19
Registration no.: 110000009979270
Registered capital: CNY 165,000,000
Legal rep.: Rong Yonglin
Tel. number: 86 (0) 10-83186000
Fax: 86 (0) 10-83186000
Web-site: http://www.nuctech.com
Tsinghua Tongfang Knowledge Network Technology Co., Ltd. (Beijing)
============================
Incorporation date: 2004-11-18
Registration no.: 110000410223853
Registered capital: USD 1,000,000
Legal Representative: Lu Zhicheng 陆致成
Tongfang Guoxin Electronics Co., Ltd.
============================
Incorporation date: 2001-9-17
Registration no.: 130000000000406
Registered capital: CNY 606,817,968
Legal Representative: Lu Zhicheng
Listing date: 2005-06-06
Stock Code: 002049
Tel. number: 86 (0) 315-6198161/ 6198181
Fax: 86 (0) 315- 6198179
E-mail: zhengquan@gosinoic.com
Web-site: http://www.gosinoic.com
Branch:
Tongfang Co., Ltd. Beijing Selling Branch
============================
Incorporation Date: 2010-08-04
Registered No.: 110108013100090
Principal: Sun Xiaoshan
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’s bank details are not disclosed at present.
Consolidated Balance Sheet
Unit: CNY’000
|
|
As of Dec. 31,
2014 |
As of Dec. 31,
2013 |
|
Cash & bank |
6,468,362 |
5,592,176 |
|
Trading financial assets |
1,491,223 |
1,357,412 |
|
Notes receivable |
226,106 |
184,327 |
|
Accounts receivable |
6,780,759 |
5,659,460 |
|
Advances to supplies |
1,189,255 |
1,146,350 |
|
Interest receivable |
211 |
821 |
|
Dividend receivable |
13,462 |
0 |
|
Other accounts receivable |
835,081 |
835,931 |
|
Inventory |
8,261,994 |
6,583,605 |
|
Non-current assets maturing within one year |
0 |
0 |
|
Other current assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current assets |
25,266,453 |
21,360,082 |
|
Financial assets available for sale |
173,342 |
72,627 |
|
Long-term accounts receivable |
3,445,847 |
2,796,363 |
|
Long-term equity investment |
8,550,040 |
6,509,054 |
|
Investing real estate |
15,300 |
0 |
|
Fixed assets |
5,677,218 |
5,220,770 |
|
Projects under construction |
869,274 |
1,604,064 |
|
Intangible assets |
2,609,765 |
2,194,191 |
|
Development expenditure |
726,268 |
635,106 |
|
Goodwill |
2,028,039 |
1,905,927 |
|
Long-term deferred expenses |
83,224 |
169,843 |
|
Deferred income tax assets |
174,739 |
150,383 |
|
Other non-current assets |
105,500 |
0 |
|
|
------------------ |
------------------ |
|
Total assets |
49,725,009 |
42,618,410 |
|
|
============= |
============= |
|
Short loans |
10,432,701 |
9,506,193 |
|
Notes payable |
1,034,852 |
929,926 |
|
Accounts payable |
7,598,708 |
6,055,898 |
|
Advances from customers |
2,281,174 |
2,453,546 |
|
Accrued payroll |
395,519 |
373,833 |
|
Taxes payable |
-165,441 |
-140,291 |
|
Interest payable |
92,179 |
32,474 |
|
Dividends payable |
65,707 |
13,631 |
|
Other accounts payable |
2,708,164 |
2,500,406 |
|
Non-current liabilities maturing within one
year |
1,874,982 |
864,596 |
|
Other current liabilities |
1,003,164 |
617,845 |
|
|
------------------ |
------------------ |
|
Current liabilities |
27,321,709 |
23,208,057 |
|
Other non-current liabilities |
7,039,308 |
5,736,146 |
|
|
------------------ |
------------------ |
|
Total liabilities |
34,361,017 |
28,944,203 |
|
Equities |
15,363,992 |
13,674,207 |
|
|
------------------ |
------------------ |
|
Total liabilities & equities |
49,725,009 |
42,618,410 |
|
|
============= |
============= |
Consolidated
Income Statement
Unit: CNY’000
|
|
As of Dec. 31,
2014 |
As of Dec. 31,
2013 |
|
Turnover |
25,993,724 |
22,650,144 |
|
Cost of goods sold |
20,829,692 |
18,384,300 |
|
Taxes and additional of main operation |
107,847 |
124,405 |
|
Sales expense |
1,702,955 |
1,562,982 |
|
Management expense |
1,819,072 |
1,545,163 |
|
Finance expense |
1,133,948 |
879,399 |
|
Assets impairment loss |
276,329 |
214,270 |
|
Income from changes in fair value |
128,134 |
252,292 |
|
Investment income |
877,403 |
1,151,693 |
|
Non-operating income |
379,200 |
415,999 |
|
Non-operating expense |
85,438 |
443,614 |
|
Profit before tax |
1,423,180 |
1,315,995 |
|
Less: profit tax |
209,769 |
237,957 |
|
Profits |
1,213,411 |
1,078,038 |
Important
Ratios
=============
|
|
As of Dec. 31,
2014 |
As of Dec. 31,
2013 |
|
*Current ratio |
0.92 |
0.92 |
|
*Quick ratio |
0.62 |
0.64 |
|
*Liabilities to assets |
0.69 |
0.68 |
|
*Net profit margin (%) |
4.67 |
4.76 |
|
*Return on total assets (%) |
2.44 |
2.53 |
|
*Inventory /Turnover ×365 |
117 days |
107 days |
|
*Accounts receivable/Turnover ×365 |
96 days |
92 days |
|
*Turnover/Total assets |
0.52 |
0.53 |
|
* Cost of goods sold/Turnover |
0.80 |
0.81 |
PROFITABILITY: FAIRLY GOOD
The turnover of SC appears good in its line and it increased in 2014.
SC’s net profit margin is fairly good in both 2 years.
SC’s return on total assets is average in both 2 years.
SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: FAIR
The current ratio of SC is maintained in a fair level in both 2 years.
SC’s quick ratio is maintained in a fair level in both 2 years.
The inventory of SC appears average in both 2 years.
The accounts receivable of SC is maintained in an average level in both
2 years.
The short-term loan of SC appears fairly large in both 2 years.
SC’s turnover is in a fair level in both 2 years, 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 large-sized in its line with fairly stable financial
conditions. The fairly large amount of short-term loan could be a threat to
SC’s financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.50 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.69.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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.