MIRA INFORM REPORT
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Report No. : |
344111 |
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Report Date : |
08.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN KTC TECHNOLOGY CO., LTD. |
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Registered Office : |
Northern Wuhe Road,
Banxuegang Industrial Area, Buji, Shenzhen Guangdong Province 518112 Pr |
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Country : |
China |
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Date of Incorporation : |
28.09.1995 |
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Com. Reg. No.: |
440307103634857 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in manufacturing and selling
electronic products. |
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No. of Employee : |
1,238 |
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
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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 foreignTRADE andINVESTMENT. 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 dailyTRADING 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 andOIL, 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
SHENZHEN KTC TECHNOLOGY
CO., LTD.
NORTHERN WUHE ROAD,
BANXUEGANG INDUSTRIAL AREA, BUJI, SHENZHEN GUANGDONG PROVINCE 518112 PR CHINA
TEL: 86 (0)
755-33606652/33615555
FAX: 86 (0)
755-33615806
EXECUTIVE
SUMMARY
Date
of Registration :
SEPtember 28, 1995
REGISTRATION
NO. :
440307103634857
LEGAL
FORM : Limited liabilities company
REGISTERED
CAPITAL : CNY 30,000,000
staff :
1,238
BUSINESS
CATEGORY : manufacturing &
TRADING
Revenue :
N/A (AS OF DEC. 31, 2014)
EQUITIES :
N/A (AS OF DEC. 31, 2014)
WEBSITE : www.ktc.com.cn
E-MAIL :
maggie@ktc.com.cn
PAYMENT
:
AVERAGE
MARKET
CONDITION :
COMPETITIVE
FINANCIAL
CONDITION : N/A
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : CNY
6.36 = 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 limited liabilities
company of PRC with State Administration of Industry & Commerce (SAIC)
under registration No.: 440307103634857
on September 28, 1995.
SC’s Organization Code Certificate No.: 19238248-7
SC’s Tax No.: 440307192382487
SC’s registered capital: CNY 30,000,000
SC’s paid-in capital: CNY 30,000,000
Registration
Change Record:-
|
Date |
Change of
Contents |
Before the
change |
After the
change |
|
Jul. 10, 2006 |
Registered
Capital |
CNY 20,000,000 |
CNY 30,000,000 |
|
Sep. 23, 2008 |
Registered No. |
4403012017807 |
440307103634857 |
|
Nov. 4, 2009 |
Company Name |
Shenzhen KTC
Computer Technology Co., Ltd. |
Li Yubin 10% Ling Bin 90% |
|
Jul. 19, 2013 |
Business Scope |
Manufacturing and
selling computer display, number TV, note book; economic information
consulting; developing, selling computer software and hardware, computer
network, electronics components; importing and exporting various goods. |
Economic
information consulting; technology development for computer network;
technology development and sales for computer software & hardware, and
electronic components; manufacturing and selling computer display, digital
TV, notebook computer, tablet computer, digital set-top boxes, LCD module
& backlight module, light-emitting diodes & light bar, GPS,
multimedia terminal MID mobile communication terminal products. |
Current Co
search indicates SC’s shareholders & chief executives are as follows:-
|
Name of
Shareholder (s) |
% of
Shareholding |
|
Li Yubin |
10 |
|
Ling Bin |
90 |
SC’s Chief
Executives:-
|
Position |
Name |
|
Legal Representative, Chairman and General Manager |
Ling Bin |
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Director |
Li Yubin |
|
Ling Bin |
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Zhang Bin |
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Supervisor |
Ling Xiao |
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Wang Yi |
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|
Ling Feng |
RECENT
DEVELOPMENT
No recent
development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Li Yubi 10
Ling Bin 90
MANAGEMENT
Ling Bin, Legal Representative, Chairman and
General Manager
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Ø Gender: M
Ø Age:
Ø Qualification:
University
Ø Working experience
(s):
From 1995 to present, working in SC as legal
representative, chairman and general manager
Also working in Shenzhen KTC Science &
Technology Co., Ltd. as legal representative
Director
-----------
Li Yubin
Ling Bin
Zhang Bin (Also working in Shenzhen KTC Commercial Display
Technology Co., Ltd. as legal representative)
Supervisor
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Ling Xiao
Wang Yi
Ling Feng
BUSINESS
OPERATION
SC’s registered
business scope includes economic information consulting; technology development
for computer network; technology development and sales for computer software
& hardware, and electronic components; manufacturing and selling computer
display, digital TV, notebook computer, tablet computer, digital set-top boxes,
LCD module & backlight module, light-emitting diodes & light bar, GPS,
multimedia terminal MID mobile communication terminal products.
SC is mainly engaged in manufacturing and
selling electronic products.
Brand: KTC
SC’s products mainly include:
CCFL LCD TV
LED TV
CCFL LCD monitor
LED monitor
SC sources its materials 70% from domestic
market, and 30% from the overseas market, mainly European countries. SC sells 40%
of its products in domestic market, and 60% to the overseas market, mainly
Southeast Asia and European countries.
The buying terms of
SC include Check, T/T, L/C and Credit of 30-60 days. The payment terms of SC
include T/T, L/C and Credit of 30-60 days.
*Major Customer*
----------------------
Tatung Co. of America Inc.
Staff
& Office:
--------------------------
SC is known to have approx. 1,238 staff at present.
SC own an area as its operating office and
factory, but the detailed information is unknown.
RELATED
COMPANY
Shenzhen KTC Commercial Display Technology Co.,
Ltd.
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Date of
Registration: December 12, 2003
Registration No.:
440307103525137
Legal Form: Limited Liabilities Company
Chief Executive: Zhang Bin 张斌
Registered Capital: CNY 30,000,000
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
Basic Bank:
Industrial and
Commercial Bank of China Shenzhen Branch
AC#:
4000030519100002711
FINANCIALS
The financials of SC is not available in local SAIC, and SC also refused
to release the details.
CONCLUSIONS
SC is considered
large-sized in its line with a development history of 20 years. Credit dealings
with SC should be confined into moderate amount at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.26 |
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|
1 |
Rs.99.53 |
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Euro |
1 |
Rs.73.47 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.