MIRA INFORM REPORT
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Report No. : |
323429 |
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Report Date : |
23.05.2015 |
IDENTIFICATION DETAILS
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Name : |
BEIJING BENYWAVE WIRELESS COMMUNICATION EQUIPMENT CO., LTD. |
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Registered Office : |
K Touch Plaza, No. 55 Jiachuang Er Road, Tongzhou District, Beijing 101100 Pr |
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Country : |
China |
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Date of Incorporation : |
22.07.2014 |
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Com. Reg. No.: |
110000450263253 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Subject is engaged in R&D, assembly, production and sales of mobile terminal products. |
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No of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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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 – 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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to 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
Beijing Benywave Wireless Communication
Equipment cO., lTD.
K Touch Plaza, No. 55 Jiachuang er Road,
Tongzhou district,
BEIJING 101100 PR CHINA
TEL: 86 (0) 10-58929211/58929207 FAX: n/a
EXECUTIVE
SUMMARY
INCORPORATION DATE :
JULY 22, 2014
REGISTRATION NO. :
110000450263253
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED ENTERPRISE
STAFF STRENGTH : N/A
REGISTERED CAPITAL : CNY
100,000,000
BUSINESS LINE :
R&D, ASSEMBLY, MANUFACTURING, TRADING
TURNOVER : n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.20 = 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’s correct name should be the heading
one.
SC was registered as a wholly foreign-owned enterprise at local
Administration for industry & commerce (AIC - the official body of issuing
and renewing business license) on July 22, 2014.
Company Status: Wholly foreign-owned
enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered business scope includes assembly and manufacture of
mobile phone terminal products; research and development of mobile phone
terminals; software development; wholesaling communications equipment,
communications device and accessories; importing and exporting goods and
technology; technical extension services.
SC is mainly
engaged in R&D, assembly, production and sales of mobile terminal products.
Ms. Rong Xiuli has
been legal representative, chairman and general manager of SC since 2014.
SC’s management
refused to release the number of employees.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Beijing. SC’s employee
refused to release the detailed information of the premise.
The
other address: Room M17, Building 1, No. 3 Yongchang North Road, Beijing
Economic and Technical Development Zone, Beijing
http://www.vital-mobile.com/ The website belongs to Vital Mobile Holdings
Limited. The design is professional and the content is well organized. At
present it is in both Chinese and English versions.
Changes
of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2014-9-2 |
Shareholder |
Vital Profit Technology Inc. |
Present one |
SC started its normal operation in November of 2014.
Organization Code: 397915136
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name % of Shareholding
Vital Mobile (HK) Limited 100
CR No.: 2115912
Company type: Private Company Limited by
Shares
Active status: live
l
Legal Representative, Chairman and General Manager:
Ms. Rong Xiuli, in her 50’s, with master’s degree, she is currently
responsible for the overall management of SC.
Working Experience(s):
From 2014 to present Working in SC as legal representative, chairman and
general manager.
Also working in Beijing Tianyu Communication Equipment Co., Ltd. and
Beijing Tianyu Junrui Technology Co., Ltd. as legal representative.
l
Vice chairman:
Mr. Pei Hong’an, in his 30’s, with master’s degree, he is currently
responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as vice chairman.
l
Director:
Gao Han
l
Supervisors:
Yang Huiyuan
Shen Guiping
Zhao Lu
SC started its normal operation in November of 2014.
SC is mainly
engaged in R&D, assembly, production and sales of mobile terminal products.
SC’s products mainly include: mobile
terminal products, mobile phone terminals, etc.
SC sources its materials 95% from domestic
market, and 5% from overseas market. SC sells 100% of its products to overseas
market.
The buying terms of SC include Check, L/C, T/T and Credit of 30-60 days.
The payment terms of SC include Check, L/C, T/T and Credit of 30-60 days.
Note:
SC refused to release its major clients and suppliers.
Beijing Tianyu Communication Equipment Co., Ltd.
=================================
Registration no.: 110000003756019
Legal representative: Rong Xiuli
Incorporation date: 2002-04-16
Beijing Tianyu Junrui Technology Co., Ltd.
===========================
Registration no.: 110108010518803
Legal representative: Rong Xiuli
Incorporation date: 2007-09-27
Beijing Benywave Technology Co., Ltd.
============================
Registration no.: 110000410206223
Legal representative: Ni Gang
Incorporation date: 2004-07-07
Etc.
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 declined to release
its banking details, so the given bank information (Bank of China- Beijing)
could not be confirmed.
As a new company established on July 22, 2014, SC’s financial
information is not available.
SC was established in July of 2014, and started its normal operation in
November of 2014. Taking into consideration of SC’s short development history
we would rate SC as an above average credit risk company. Credit confined into
small amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 63.57 |
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1 |
Rs. 99.66 |
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Euro |
1 |
Rs. 70.92 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
DPT |
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.