MIRA
INFORM REPORT
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Report No. : |
345109 |
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Report Date : |
19.10.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
34-37/F, Tower A, Electronic Science & Technology Building, No. 2070 Shennan Middle Road, Shenzhen, Guangdong Province, 518031 PR |
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Country : |
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Date of Incorporation : |
19.05.1982 |
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Com. Reg. No.: |
440000000029684 |
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Legal Form : |
Shares limited co. |
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Line of Business : |
import and export of goods and technologies (according to
foreign trade and economic Zhengshen word [97] no.
1980 document), foreign economic cooperation business (according to foreign
trade and economic cooperation letter [2001] No. 500 document), selling
textiles, general merchandise, industrial goods (excluding gold, silver,
cars, dangerous chemicals), petroleum products (excluding refined oil),
hardware, chemical industry (excluding dangerous chemicals), building
materials, arts and crafts goods (excluding jewelry), selling its own import
and export commodities in domestic market; labor services, information
consulting, packaging services, property management, leasing and selling its
own property; domestic freight forwarders; international freight forwarders.
Wholesale, retail, sales and repair of Class I medical instruments,
Class II medical devices andClass III medical
devices (within permitted scope) |
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No. of Employees : |
343 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
China electronics shenzhen COmpany
34-37/F, TOWER A, ELECTRONIC SCIENCE
& TECHNOLOGY BUILDING, NO. 2070 SHENNAN MIDDLE ROAD, SHENZHEN, GUANGDONG
PROVINCE, 518031 PR CHINA
TEL: 86 (0) 755-83783202/83783269
FAX: 86 (0) 755- 83350221
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY 19, 1982
REGISTRATION NO. :
440000000029684
REGISTERED LEGAL FORM : shares limited co.
CHIEF EXECUTIVE :
Mr. CHEN XU (CHAIRMAN)
STAFF STRENGTH :
343
REGISTERED CAPITAL : cny 175,000,000
BUSINESS LINE :
TRADE, investment& MANAGEMENT
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : steady
GENERAL REPUTATION :
average
EXCHANGE RATE :
CNY 6.35 = 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 Ren Min Bi
Note: The and
telephone number belong to SC's related company (China Electronics Zhejiang Company)
SC was
registered as a shares limited co. at local Administration for Industry &
Commerce (AIC-The official body of issuing and renewing business license).
Company Status: Shares limited
co.
This
form of business in PR China is defined as a legal person. Its registered
capital is divided into shares of equal par value and the co. raises capital by
issuing share certificates by promotion or by public offer. Shareholders bear
limited liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The co has independent property
of legal person and enjoys property rights of legal person. The characteristics
of the shares limited co. are as follows:
The
establishment of the co. requires at least two promoters and no more than 200, half of
whom shall be domiciled in China.. Natural person are allowed to serve as promoters.
The
minimum registered capital of a co. is CNY
The
board of directors must consist of five to nineteen directors.
If the co. raises capital by public
offer, the promoters must not subscribe less than 35% of the total shares. the
promoters’ shares are restricted to transfer- within one year of the offer.
A
state-owned enterprise that is restructured into a shares limited co. must
comply with the conditions & requirements specified under the law &
administrative rule.
SC’s registered
business scope includes import and export of goods and technologies (according
to foreign trade and economic Zhengshen word [97] no.
1980 document), foreign economic cooperation business (according to foreign
trade and economic cooperation letter [2001] No. 500 document), selling
textiles, general merchandise, industrial goods (excluding gold, silver, cars,
dangerous chemicals), petroleum products (excluding refined oil), hardware,
chemical industry (excluding dangerous chemicals), building materials, arts and
crafts goods (excluding jewelry), selling its own import and export commodities
in domestic market; labor services, information consulting, packaging services,
property management, leasing and selling its own property; domestic freight forwarders;
international freight forwarders. Wholesale, retail, sales
and repair of Class I medical instruments, Class II medical devices andClass III medical devices (within permitted
scope).
SC is mainly engaged in trade business,
investment and management of its subsidiaries.
Mr. Chen Xu is legal representative and chairman of SC at present.
SC is
known to have approx. 343 employees at present.
SC is
currently operating at the above stated address, and this address houses its operating
office in Shenzhen. SC’s management declined to release the detailed
information of the premise.
http://www.ceiecsz.com.cn
The design is professional and the content is well organized. At present it is
in Chinese version.
E-mail: ceiecsz@ceiecsz.com.cn
Changes
of its registered information are as follows:
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Date of
change |
Item |
Before
the change |
After
the change |
|
Unknown |
Legal rep. |
Cong Yadong |
Present one |
Organization code: 617439689
Honors:
China's
service industry top 500 enterprises
The 4th
of 2012 general trade export enterprises hundred list
The 17th
of 2012 top 100 enterprises in Shenzhen
National
state-owned enterprises exported 100 companies
Export of
electromechanical products advanced enterprises
Civilized
unit in Guangdong Province
Guangdong
Province integrity demonstration units
High-tech exports
advanced enterprises in Guangdong Province
For the past
two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name
%
of Shareholding
China National
Electronics Import and Export Corporation 97.5
Internal
staff 2.5
China
National Electronics Import and Export Corporation
===========================================
China
National Electronics Import and Export Corporation (hereinafter referred to as
CEIEC), a large State-owned foreign trade enterprise affiliated to China
Electronics Corporation (CEC), is established in 1980—the beginning of China’s
reform and opening. As the main trade channel of China’s electronics products,
CEIEC has made great contributions to the development of Chinese electronics
industry and the globalization of Chinese electronics products.
Tel:
+86-10-52579999
Fax:
+86-10-52579000
Email: ceiec@ceiec.com.cn
Website: http://www.ceiec.com.cn
Incorporation
date: Apr. 15, 1980
Registration
no.: 100000000001068
Registered
capital: CNY 694,216,000
Legal rep.: Qu Huimin
Legal form:
State-owned enterprise
Legal
representative & Chairman:
Mr. Chen Xu is currently responsible for the overall management of
SC.
Working
Experience(s):
At
present Working in SC as legal
representative and chairman.
General
Manager:
Mr. Guo Jian is currently responsible
for the daily management of SC.
Working
Experience(s):
At
present Working in SC as general
manager.
Directors:
Hong Guanqi
Liu Sizhang
Qu Huimin
Li Jinghe
Song Jian
Supervisors:
Wang Qiuping
Xiao Yuan
Wang Lianxiang
SC is mainly
engaged in trade business, investment and management of its subsidiaries.
SC’s products
mainly include: electrical and mechanical products, household appliances, digital electronics, computer fitting,
magnetic material.
As an advanced enterprise of national
foreign economy and trade, quality and benefit, SC has ranked the 43rd position
in the 100 top exported state-owned enterprises in China, the 235th position in
the 500 top Chinese services enterprises and the 49th position in the 100 top
Shenzhen enterprises. It is an enterprise with AAA bank credit rating and a
provincial and municipal civilization unit for many years. SC takes the lead in
the electronics industry association, import and export industry and related
industry associations, and it is a membership unit of Shenzhen Chamber of
Commerce for Import& Export.
SC sources
its materials 95% from domestic markets and 5% from overseas market. SC sells
10% of its products in domestic markets and 90% 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 refused to release its major
clients and suppliers.
SC
is known to have the following subsidiaries:
Shenzhen CE
Lighting Co., Ltd.
=========================
Incorporation
date:
Registration
no.: 440301103233458
Registered
capital: CNY 90,000,000
Legal rep.:
Chen Gang 陈刚
Legal form:
Shares Limited Co.
Web: http://www.ce-lighting.com
E-mail: cel@landlite.com
Tel: +86(755) 2698 9999
Fax: +86(755)
2698 9900
China
Electronics Zhuhai Co., Ltd.
===========================
Incorporation
date:
Registration no.: 440400000039395
Registered capital: CNY 25,900,000
Legal rep.: Zhou Hong 周红
Web: http://www.ceiec-zhuhai.com
E-mail: zhceiec@ceiec-zhuhai.com
Tel: +86-756-3266888
Fax: +86-756-3368833
Related company
China
Electronics Zhejiang Company
=========================
Incorporation
date:
Registration no.:330000000056912
Legal rep.: Tang Wei 唐伟
Tel: 86-0571
88938703
Add: No. 408 Wensan Road, Hangzhou, Zhejiang Province
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’s
accountant declined to release its bank details, so the given bank “Bank of
China - Shenzhen” can not be confirmed.
SC’s management
declined to release any financial information.
SC is
considered large-sized in its line with a long development history. Taking into
consideration of SC’s background, reputation and operation size we would rate
SC as a low credit risk company. Credit dealings with SC in favorable terms can
be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.64.97 |
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UK Pound |
1 |
Rs.100.55 |
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Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
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Analysis Done by
: |
HNA |
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Report Prepared
by : |
TRU |
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.