MIRA INFORM REPORT
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Report No. : |
347908 |
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Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
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Name : |
WUHAN FIBERHOME INTERNATIONAL TECHNOLOGIES CO., LTD. |
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Registered Office : |
No. 88, Youkeyuan Road,
Hongshan District, Wuhan, Hubei
Province, 430074 Pr |
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Country : |
China |
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Date of Incorporation : |
20.05.2005 |
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Com. Reg. No.: |
420100000242232 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Subject is mainly engaged in technologically developing and selling communication equipment. Products mainly include optical communication equipment and systems, broadband access equipment and systems, optical fiber cable, wireless and data communications products. |
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No. of Employees : |
100 |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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. 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 for the first time in modern history. Still, China's per capita income is below the world average.
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 Peoples Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate.
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 also 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 and address
WUHAN FIBERHOME INTERNATIONAL TECHNOLOGIES CO., LTD.
NO. 88, YOUKEYUAN
ROAD, HONGSHAN DISTRICT, WUHAN,
HUBEI PROVINCE, 430074 PR CHINA
TEL: 86 (0) 27-87693526/87694177/87694108
FAX: 86 (0) 27-87691542
EXECUTIVE
SUMMARY
INCORPORATION DATE : MAY 20, 2005
REGISTRATION NO. : 420100000242232
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH :
100
REGISTERED CAPITAL : CNY 40,000,000
BUSINESS LINE :
DEVELOPING & TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
SLOW BUT CORRECT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.3343 = 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
SC was registered as a limited liabilities
co. at local Administration for Industry & Commerce (AIC - The official
body of issuing and renewing business license) on May 20, 2005.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SCs registered business
scope includes developing optical fiber communications, data communications,
wireless communications and related communications technologies, information
technology; manufacturing and selling products; selling system integration and
products; designing and conducting related projects; technical service;
investing projects; importing and exporting commodities and technologies
(excluding commodities prohibited by country). Wholesaling pre-packaged food
(with permit if needed).
SC is mainly
engaged in technologically developing and selling communication equipment.
Mr. Lv Weiping is
the legal representative and chairman of SC at present.
SC is known to
have approx. 100 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in Wuhan. SCs accountant refused to release the detailed
information of the area.
http://www.wri.com.cn The website belongs to FiberHome
Technologies Group. It includes the information about SC and its related
companies. The design is professional and the content is well organized. At
present it is in Chinese, English and other versions.
E-mail: dongxm@fiberhome.com
Changes
of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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Unknown |
Registered no. |
4201001171628 |
Present one |
Organization code: 774572176
For the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Fiberhome Telecommunication Technologies
Co., Ltd. 70
Wuhan Hongxin Telecommunication Technologies
Co., Ltd. 30
Fiberhome Telecommunication Technologies
Co., Ltd.
========================================
The said company is a listed company in
Shanghai Stock Exchange Market with the code 600498.
Incorporation date: Dec. 25, 1999
Registration no.: 420000000041377
Registered legal form: Shares limited co.
Legal representative: Tong Guohua
Registered capital: CNY 1,046,918,474
Tel: 027- 87693885
Fax: 027- 87691704
Email: info@fiberhome.com.cn
Web: http://www.fiberhome.com/
Wuhan Hongxin Telecommunication Technologies
Co., Ltd.
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Wuhan Hongxin Telecommunication Technologies
Co., Ltd. is committed to providing the best information communication, make
science and technology benefit the mankind.
Incorporation date: Dec. 29, 1998
Registration no.: 420100000022490
Legal representative: Xu Jie
Registered capital: CNY 412,000,000
Web: http://www.hxct.com/
Email: international@hxct.com
Tel: 027-87691380
Fax: 027-87691380
l Legal
representative and Chairman:
Mr. Lv Weiping, born in 1962, professor
level senior engineer, with Masters degree, he is currently responsible for
the overall management of SC.
Working Experience(s):
At present Working in SC as chairman
and legal representative;
Also working in Fiberhome
Telecommunication Technologies Co., Ltd. as vice chairman, working in Wuhan
Research Institute of Post and Telecommunications as vice-president
l General Manager:
Mr. Yao Mingyuan, born in 1964, senior
engineer, with Masters degree, he is currently responsible for the daily
management of SC.
Working Experience(s):
At present Working in SC as general
manager
Also working in Fiberhome
Telecommunication Technologies Co., Ltd. as vice president.
l Directors:
Zhang Haiyan
Ge Jun
Li Guangcheng
Cai Xin
Wang Jianli
l Supervisors:
Zhang Ming
Tang Jiawu
Zhang Jinghong
He Jianming
Gao Lu
SC is mainly engaged in technologically developing and selling
communication equipment.
SCs products mainly
include optical communication equipment and systems, broadband access equipment
and systems, optical fiber cable, wireless and data communications products,
etc.
SC sources its merchandise 80% from domestic
market and 20% from overseas market. SC sells 20% of its products in domestic
market and 80% to 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.
Trademarks & Patents
No record
Note:
SC declined to release its major suppliers and clients.
According
to the website http://www.wri.com.cn/:
Wuhan
Fiberhome Mobile Communication Inc.
Legal
representative: Tong Guohua
Registration
No.: 420100400003159
Incorporation
date:
Wuhan
Fiberhome Network Co., Ltd.
Legal
representative: He Shuping
Registration
No.: 420100000103136
Incorporation
date:
Wuhan
Fiberhome Information Integration Technologies Co., Ltd.
..
Legal
representative: He Shuping
Registration
No.: 420100000248869
Incorporation
date:
Wuhan
Fiberhome Fuhua Electric Co., Ltd.
Legal
representative: Xu Jie
Registration
No.: 420100000115507
Incorporation
date: 2008-10-27
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.
SCs management refused
to disclose its detailed bank information.
Financial
summary
Unit: CNY000
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as of June 30, 2015 |
as of Dec. 31, 2014 |
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Total Assets |
896,552 |
680,946 |
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Jan.1 to June 30, 2015 |
as of Dec. 31, 2014 |
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Net profit |
3,688 |
7,872 |
Note: we did not find SCs detailed
financial reports. The above SCs financial data came from the financial report
of its parent company Fiberhome Telecommunication Technologies Co., Ltd.
Important Ratios
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as of June 30, 2015 |
as of Dec. 31, 2014 |
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*Return on total assets (%) |
0.41 |
1.16 |
SC is considered medium-sized in its line with 10 years development
history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.68 |
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1 |
Rs.101.02 |
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Euro |
1 |
Rs.71.35 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
NIT |
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 SCs
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.