MIRA INFORM REPORT
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Report No. : |
325530 |
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Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SENSATA TECHNOLOGIES BAOYING CO., LTD. |
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Registered Office : |
No. 9 Taishan East Road, Economic Development Zone, Baoying
County, Jiangsu Province 225801 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
24.11.1995 |
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Com. Reg. No.: |
320000400003155 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Subject is engaged in producing sensitive components and sensors;
frequency control and components selection; manufacturing power electronic
devices, new electronic components, special-purpose electronic equipment and
spare parts; domestic wholesale, commission agency, relevant import &
export business of the above products. |
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No. of Employee : |
2,146 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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. 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.
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Source
: CIA |
Company
name and address
SENSATA TECHNOLOGIES
BAOYING CO., LTD.
NO. 9 TAISHAN EAST ROAD, ECONOMIC DEVELOPMENT ZONE
BAOYING COUNTY, JIANGSU PROVINCE 225801 PR CHINA
TEL: 86 (0) 514-88873000/88873025/88873047
FAX: 86 (0) 514-88228467
EXECUTIVE
SUMMARY
Date of Registration : NOVEMBER 24, 1995
REGISTRATION NO. : 320000400003155
LEGAL FORM : Wholly foreign-owned enterprise
REGISTERED CAPITAL : USD 60,253,764
staff : 2,146
BUSINESS CATEGORY : manufacturing & TRADING
REVENUE :
CNY 1,200,879,000 (AS OF DEC. 31, 2013)
EQUITIES :
CNY 957,395,000 (AS OF DEC. 31, 2013)
WEBSITE : www.sensata.com
E-MAIL :
N/A
PAYMENT : AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : fairly good
OPERATIONAL TREND : FAIRLY
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.20 = USD 1
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 wholly foreign-owned enterprise of
PRC with State Administration of Industry & Commerce (SAIC) under
registration No.: 320000400003155 on November 24, 1995.
SC’s Organization Code Certificate
No.: 70390356-4
SC’s registered capital: USD 60,253,764
SC’s paid-in capital: USD 60,253,764
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registered Capital |
USD 25,253,764 |
USD 60,253,764 |
Current Co search indicates SC’s shareholders & chief executives
are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
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Sensata Technologies B.V. (Holland) |
100 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative and
Chairman |
Martha Newman Sullivan |
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General Manager |
Li Hao |
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Director |
Jeff Cote |
|
Christine Frances Creighton |
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Supervisor |
Wong Kok
Joon |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Sensata Technologies B.V. (Holland) 100
--------------------------------------------
Add.: Kolthofsingel 8, 7602 EM, Almelo PO Box 43, 7600 AA Netherlands
Tel.: +31 546 879 555
Fax: +31 546 870 535
MANAGEMENT
Martha Newman Sullivan, Legal
Representative and Chairman
---------------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal representative and chairman
Li Hao, General Manager
------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present,
working in SC as general manager
Director
-----------
Jeff Cote
Christine Frances Creighton
Supervisor
--------------
Wong Kok Joon
BUSINESS
OPERATION
SC’s registered
business scope includes producing sensitive components and sensors; frequency
control and components selection; manufacturing power electronic devices, new
electronic components, special-purpose electronic equipment and spare parts;
domestic wholesale, commission agency, relevant import & export business of
the above products.
SC is mainly
engaged in manufacturing and selling circuit protectors and sensors.
SC’s products
mainly include: circuit protector, sensors, battery protector, circuit
breakers, lighting controls, thermostats, etc.
SC sources its materials 70% from domestic
market, and 30% from overseas market. SC sells 40% of its products in domestic
market, and 60% to overseas market, mainly U.S.A., UK, Japan and South Korea
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.
*Major Clients*
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Shanghai GM
Huawei Technologies
Staff & Office:
--------------------------
SC is
known to have approx. 2,146 staff
at present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
RELATED
COMPANY
Sensata Technologies Changzhou Co., Ltd.
Sensata Technologies Shanghai Co., Ltd.
Sensata Automotive Sensors (Shanghai) Co., Ltd.
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
The bank
information of SC is not filed in local SAIC.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2013 |
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Total assets |
1,225,470 |
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------------- |
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Total
liabilities |
268,075 |
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Equities |
957,395 |
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------------- |
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Revenue |
1,200,879 |
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Profit before
tax |
119,253 |
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Less: profit tax |
29,870 |
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Profits |
89,383 |
Important Ratios
=============
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As
of Dec. 31, 2013 |
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*Liabilities to
assets |
0.22 |
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*Net profit
margin (%) |
7.44 |
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*Return on
total assets (%) |
7.29 |
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*Revenue /
Total assets |
0.98 |
FINANCIAL
COMMENTS
PROFITABILITY:
FAIRLY GOOD
l The revenue of SC
appears fairly good in its line.
l SC’s net profit margin
is fairly good.
l SC’s return on
total assets is fairly good.
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 low.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly Good.
CONCLUSIONS
SC is considered large-sized in its line with fairly good
financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
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|
1 |
Rs.98.12 |
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Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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 |
-- |
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.