MIRA INFORM REPORT
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Report No. : |
344538 |
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Report Date : |
10.10.2015 |
IDENTIFICATION DETAILS
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Name : |
Shenzhen Teleone Technology Co., Ltd. |
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Registered Office : |
No.2205,Overseas Chinese Scholars Venture Building, High Tech Park, Shenzhen, Guangdong |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
25.10.2011 |
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Com. Reg. No.: |
440301503414326 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Subject is
mainly engaged in trading of electronic products. |
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No. of Employees : |
7 |
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 : |
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 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.
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Source
: CIA |
Company
Name and address
Shenzhen Teleone Technology Co., Ltd.
No.2205,Overseas Chinese Scholars Venture Building,
High-tech park, ShenZhen, GuangDong, China
TEL: 86 (0) 755-82804462 FAX:
86 (0) 755-82701459
EXECUTIVE
SUMMARY
INCORPORATION DATE : OCT. 25, 2011
REGISTRATION NO. : 440301503414326
REGISTERED LEGAL FORM : Wholly
foreign-owned enterprise
STAFF STRENGTH : 7
REGISTERED CAPITAL : USD
500,000
BUSINESS LINE :
TRADING
TURNOVER : CNY 438,000 (AS
OF DEC. 31, 2014)
EQUITIES : CNY 1,197,000 (AS
OF DEC. 31, 2014)
PAYMENT : AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.40 = 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: The given name “Suntak Industrial
Limited” is SC’s related company registered in Hong Kong, SC mainly uses this name
for international trade. SC is also known as “Teleonemobile Co., Ltd.”
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 Oct. 25, 2011.
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 research and development, wholesale, commission agency
of electronic products, communications products (excluding auction), import and
export and related services (not involving in state trading commodities,
involving quotas, license management, and other special requirements management
product, should according to the relevant regulations of the State
regulations).
SC is mainly
engaged in trading of electronic products.
Mr. Ranhao Lin is
legal representative, chairman and general manager of SC at present.
SC is known
to have approx. 7 employees at present.
SC’s
staff refused to release its operation address, so it could not be confirmed
whether the company operates from the or in another location.
http://www.teleonemobile.com/ The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
E-mail: info@teleonemobile.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
Organization Code: 581558765
For the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Paraview Technology Company Limited (Canada) 100
l Legal
Representative, Chairman and General Manager:
Mr. Ranhao Lin, born in 1978, Canadian,
he is currently responsible for the overall and daily management of SC.
Working Experience(s):
At present Working in SC as legal
representative, chairman and general manager.
*Officials:
========
Name Title
Ren Jianjun Supervisor
Cai Zhihao Director
Lin Ge Director
SC is mainly
engaged in trading of electronic products.
SC’s products mainly include: bar phone, flip phone, and slide phone, etc.
SC sources its materials 90% from domestic
market and 10% from overseas market. SC sells 90% of its products in domestic
market, and 10% 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.
Note:
SC’s management declined to release its major clients and suppliers.
Trademark & Patents
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Registration No. |
10468163 |
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Registration Date |
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Trademark Design |
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Suntak Industrial Limited (Hong Kong)
===================
CR
No.: 0673153
Date
of Incorporation:
Company
Status: Private company limited by shares
Active
Status: Live
According
to SC’s website:
Sunland
Trading Inc. (Panama)
Address:
Edificio Parvani , Manzana N°11, Local N°7 , Calle 15 Entre C Y D Zona Libre De
Colon, Rep. De
Panama
Tel:
+00507 4311112
Fax:
+00507 4311113
Email:
sunland@tinko.com.pa
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 bank details.
Financial Summary
===============
Unit: CNY’000
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As of Dec. 31,
2014 |
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Total
liabilities |
-81 |
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Equities |
1,197 |
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-------------- |
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Total
liabilities & equities |
1,116 |
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========= |
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Turnover |
438 |
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Profits |
-462 |
Note:
SC’s management refused to release its detailed financial reports.
Important Ratios
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as of Dec. 31, 2014 |
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*Liabilities to assets |
-0.07 |
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*Net profit margin (%) |
-105.48 |
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*Return on total assets (%) |
-41.40 |
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*Turnover/Total assets |
0.39 |
PROFITABILITY:
FAIR
l
The turnover of SC appears fair in its line.
l
SC’s net profit margin is poor.
l
SC’s return on total assets is fair.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair.
SC is considered small-sized in its line with fair financial conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.78 |
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|
1 |
Rs.99.54 |
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Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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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 |
-- |
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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.