MIRA INFORM REPORT
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Report No. : |
351110 |
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Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
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Name : |
DONGGUAN SUNLUSH LIGHTING LIMITED |
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Registered Office : |
No. 6, Baofeng Road, Yongkou Industrial Zone, Shijie Town, Dongguan City, Guangdong Province, 523299
Pr |
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Country : |
China |
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Date of Incorporation : |
02.08.2001 |
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Com. Reg. No.: |
441900000621599 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Manufacturing and selling: lighting, lighting equipment and
accessories; importing and exporting of goods. |
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No. of Employee : |
100 |
RATING & COMMENTS
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MIRA’s 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 : |
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 – March 31, 2015
|
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 People’s 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.
|
Source
: CIA |
Company name
and address
DONGGUAN SUNLUSH
LIGHTING LIMITED
NO. 6, BAOFENG ROAD, YONGKOU INDUSTRIAL
ZONE, SHIJIE TOWN,
DONGGUAN CITY, GUANGDONG PROVINCE, 523299 PR
CHINA
TEL: 86
(0)769-86323888/86365328/86013200/86365222 FAX:
86 (0)769-86320278
EXECUTIVE
SUMMARY
INCORPORATION DATE :
AUG. 2, 2001
REGISTRATION NO. : 441900000621599
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH : 100
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE :
MANUFACTURING & TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : UNKNOWN
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.3898 = 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 uses the given name “Sunlush
Lamps Industrial Co.” and “Venezina International Limited” as
its trading name.
SC was registered as a limited liabilities company at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Aug. 2, 2001.
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.
SC’s registered business scope includes manufacturing and selling: lighting,
lighting equipment and accessories; importing and exporting of goods (excluding
the project that legal and administrative regulations prohibited, with permit
to operate if needed). (With permit if needed)
SC is mainly
engaged in manufacturing and selling lighting, lighting equipment and
accessories.
Mr. Chen Xukang is legal representative, executive director
and manager 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 and factory in the industrial zone of Dongguan. The detailed
premise information is unknown.
http://www.sunlush.com.cn/
The design is professional and the content is well organized. At present it is
in Chinese version.
http://www.venezina.com/
The website belongs to Venezina. The design is professional and the content is
well organized. At present it is in English version.
E-mail: sme4@venezina.com
;
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
Organization Code: 73312123X
Credibility Code: 9144190073312123XK
For the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Chen Xukang 98.62
l
Legal representative, Executive director and
Manager:
Mr. Chen Xukang is currently responsible for the overall management of
SC.
Working
Experience(s):
At present Working
in SC as legal representative, executive director and manager.
l
Supervisor:
Chen Ganzhi
SC is mainly
engaged in manufacturing and selling lighting, lighting equipment and
accessories.
SC’s products mainly
include: architectural lighting spot lights, down lights, pendant lights,
ceiling lights, wall lights, LED lights, office lights
SC sources its materials mainly from
domestic market. SC sells its products in domestic market, and to overseas
market.
The buying terms of SC include Check, T/T 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 customers.
TRADEMARKS & PATENTS
Registration No. 1296894
Registration Date 1999-7-21
Trademark Design 
Registration No. 1299093
Registration Date 1999-7-28
Trademark Design 
Registration No. 4416506
Registration Date 2007-7-28
Trademark Design 
According to the website:
Sunlush Lamps Industrial Co. (Hong Kong)
=======================
Tel.: +852 2781 7372
Fax: +852 2392 1582
Venezina International Limited (Hong Kong)
=============================
Incorporation Date : 2005-5-24
Registration No. : 0972569
Registered Legal Form : Private company limited by shares
Active Status :
Live
Website:
www.venezina.com
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 bank details.
SC’s accountant refused to release the financial information.
SC is considered medium-sized in its line with a development history of
14 years. Due to lack of financial statements, we are unable to determine the
maximum credit limit for SC. Credit up to
moderate amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.55 |
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|
1 |
Rs.100.64 |
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Euro |
1 |
Rs.70.70 |
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CNY |
1 |
Rs.10.43 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
HNA |
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Report Prepared
by : |
ANK |
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.