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MIRA INFORM REPORT
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Report No. : |
505417 |
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Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
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Name : |
TYT ELECTRONICS CO., LTD. |
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Registered Office : |
No. 39-1 Plot, Optoelectronics Information Industry Base,
Nan’an, Quanzhou, Fujian Province, 362300 Pr |
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Country : |
China |
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Date of Incorporation : |
14.08.2008 |
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Credibility Code
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91350583678475050B |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Registered business scope includes manufacturing and selling
interphone and interphone parts; import and export of various goods and
technologies, excluding the goods forbidden by the government; manufacturing,
R&D, and selling mobile phone and mobile phone accessories (with permit
if needed). |
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No. of Employees : |
29 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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. China has implemented reforms in a gradualist fashion, resulting in efficiency gains that have contributed to a more than tenfold increase in GDP since 1978. Reforms began with the phaseout 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 continues to pursue an industrial policy, state support of key sectors, and a restrictive investment regime. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2016 stood as the largest economy in the world, surpassing the US in 2014 for the first time in modern history. China became the world's largest exporter in 2010, and the largest trading nation in 2013. Still, China's per capita income is below the world average.
After keeping its currency tightly linked to the US dollar for years, China in July 2005 moved to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008, the renminbi appreciated more than 20% against the US dollar, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing announced it would allow a resumption of gradual liberalization. From 2013 until early 2015, the renminbi (RMB) appreciated roughly 2% against the dollar, but the exchange rate fell 13% from mid-2015 until end-2016 amid strong capital outflows in part stemming from the August 2015 official devaluation; in 2017 the RMB resumed appreciating against the dollar – roughly 7% from end-of-2016 to end-of-2017. From 2013 to 2017, China had one of the fastest growing economies in the world, averaging slightly more than 7% real growth per year. In 2015, the People’s Bank of China announced it would continue to carefully push for full convertibility of the renminbi, after the currency was accepted as part of the IMF’s special drawing rights basket. However, since late 2015 the Chinese Government has strengthened capital controls and oversight of overseas investments to better manage the exchange rate and maintain financial stability.
The Chinese Government faces numerous economic challenges including: (a) reducing its high domestic savings rate and correspondingly low domestic household consumption; (b) managing its high corporate debt burden to maintain financial stability; (c) controlling off-balance sheet local government debt used to finance infrastructure stimulus; (d) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and college graduates, while maintaining competitiveness; (e) dampening speculative investment in the real estate sector without sharply slowing the economy; (f) reducing industrial overcapacity; and (g) raising productivity growth rates through the more efficient allocation of capital and state-support for innovation. Economic development has progressed further in coastal provinces than in the interior, and by 2016 more than 169.3 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of China’s population control policy known as the “one-child policy” - which was relaxed in 2016 to permit all families to have two children - 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 urbanization. The Chinese Government is seeking to add energy production capacity from sources other than coal and oil, focusing on natural gas, nuclear, and clean energy development. In 2016, China ratified the Paris Agreement, a multilateral agreement to combat climate change, and committed to peak its carbon dioxide emissions between 2025 and 2030.
The government's 13th Five-Year Plan, unveiled in March 2016, emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry. However, China has made more progress on subsidizing innovation than rebalancing the economy. Beijing has committed to giving the market a more decisive role in allocating resources, but the Chinese Government’s policies continue to favor state-owned enterprises and emphasize stability. Chinese leaders in 2010 pledged to double China’s GDP by 2020, and the 13th Five Year Plan includes annual economic growth targets of at least 6.5% through 2020 to achieve that goal. 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. Chinese leaders also have undermined some market-oriented reforms by reaffirming the “dominant” role of the state in the economy, a stance that threatens to discourage private initiative and make the economy less efficient over time. The slight acceleration in economic growth in 2017—the first such uptick since 2010—gives Beijing more latitude to pursue its economic reforms, focusing on financial sector deleveraging and its Supply-Side Structural Reform agenda, first announced in late 2015.
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Source : CIA |
Company
name and address
TYT ELECTRONICS Co., Ltd.
No. 39-1 plot, Optoelectronics Information industry
base, nan’an, quanzhou, fujian PROVINCE, 362300 PR CHINA
TEL: 86 (0) 595-27770885 FAX: n/a
EXECUTIVE
SUMMARY
INCORPORATION
DATE : AUG. 14,
2008
CREDIBILITY
CODE :
91350583678475050B
REGISTERED
LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE :
LIN JIAMAO (legal
representative)
STAFF STRENGTH :
29
REGISTERED CAPITAL :
CNY 20,000,000
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
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 One-person Limited
Liability Company at local Administration for industry & commerce (AIC
- the official body of issuing and renewing business license).
Company Status: One-person
Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s
registered business scope includes manufacturing and selling
interphone and interphone parts; import and export of various goods and
technologies, excluding the goods forbidden by the government; manufacturing,
R&D, and selling mobile phone and mobile phone accessories (with permit if
needed).
SC
is mainly engaged in manufacturing and selling interphone and interphone
parts.
Lin
Jiamao is legal representative, executive director and general manager of SC at
present.
SC is
known to have approx. 29 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 Nan’an. The detailed
information of the premise is unspecified.
http://www.tyt888.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email:
info@tyt888.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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2015-03-30 |
Registered capital |
CNY 5,000,000 |
Present amount |
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Shareholders |
Lin
Jiamao 100% |
Lin Jiamao Li
Shuili |
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Legal form |
One-person Limited Liability
Company |
Limited liabilities co. |
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2016-10-21 |
Legal form |
Limited liabilities co. |
One-person Limited Liability
Company |
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Shareholders |
Lin Jiamao Li
Shuili |
Lin Jiamao 100% |
Import/ Export License No: 3500678475050
HS Code: 3505965322
For
the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Lin
Jiamao 100
Legal
representative, Executive director and General manager:
Lin
Jiamao is currently responsible for the overall management of SC.
Working
Experience(s):
At
present Working in SC as
legal representative, executive director and general manager
Also
working in Quanzhou Jianwei Electronic Technology Co., Ltd. (Literal
Translation) as legal representative
Supervisor:
Li
Ruixin
SC
is mainly engaged in manufacturing and selling interphone and interphone
parts.
SC’s
products mainly include: DMR products, Handheld radio, Mobile radio, Repeater,
etc.
SC
sources its materials from both domestic market and overseas market. SC sells
its products in both domestic market and 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 customer and supplier details.
Trademarks & patents
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Registration No. |
22321758 |
22321662 |
22321659 |
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Registration Date |
2018-01-28 |
2018-01-28 |
2018-01-28 |
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Trademark Design |
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Industry code: 3900
Industry name: Computer,
communications and other electronic equipment manufacturing
The
gross domestic product of China in 2016 which is 74412.72 billion that is
increased 6.7% than previous year.
The
revenue of electronic products was grown rapidly in domestic market which caused
by State policy that expanding domestic demand. Total output value of
electronic products was 6,169.5 billion Yuan in 2015 which was increased 17.3%
than previous year and 17.4 percentage higher than export delivery value. Total
export-import volume was 1,308.8 billion U.S. dollar which was decreased 1.1%
than previous year and 5.9 percentages higher than growth rate of export and
import. Among import volume 781.1 billion U.S. dollar which is 34.3% of total
import value of China that decrease 1.1% than previous year. Export volume of
this industry is 527.7 billion U.S. dollar which is 31.4% of total export value
of China that was decreased 1.2% than previous year.
Quanzhou
Jianwei Electronic Technology Co., Ltd. (Literal Translation)
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Credibility
Code: 913505830641316169
Date
of incorporation: 2013-04-02
Legal
representative: Lin Jiamao
SC
is known to have an invested company at present:
Fujian
Quanzhou Licheng Haiyin Microcredit Co., Ltd. (Literal Translation)
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Credibility
Code: 913505023106856904
Legal
representative: Chen Wenhai
Date
of incorporation: 2014-07-25
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.
Industrial
and Commercial Bank of China Nan’an Xiamei Sub-branch
AC#:
1408868209008003070
Relationship:
Normal
SC’s
management declined to release any financial information.
SC
is considered small-sized in its line with a development history of 10 years.
Due to lack of financial status, we are unable to recommend accurate credit limit
for SC.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.36 |
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1 |
INR 92.51 |
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Euro |
1 |
INR 81.05 |
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CNY |
1 |
INR 10.57 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.