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MIRA
INFORM REPORT
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Report No. : |
491154 |
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Report Date : |
12.02.2018 |
IDENTIFICATION DETAILS
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Name : |
Beijing JCZ
Technology Co., Ltd. |
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Registered Office : |
East Of 1st Floor, M3 Building, No. 1, East Road of
Jiuxianqiao, Chaoyang District,
Beijing, 100016 Pr |
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Country : |
China |
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Financials (as on) : |
30.06.2017 |
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Date of Incorporation : |
14.01.2004 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject registered business scope includes technical development and
technical services; selling computer, software and auxiliary equipment; import
and export of goods and technologies (with permit if needed). |
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No. of Employees : |
99 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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 early2015, 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.
|
Source
: CIA |
Company name & address
Beijing JCZ Technology Co., Ltd.
EAST OF 1ST FLOOR, M3 BUILDING, NO. 1, EAST ROAD OF
JIUXIANQIAO,
CHAOYANG DISTRICT, BEIJING, 100016 PR CHINA
TEL: 86 (0) 10-64426995 FAX: 86 (0) 10-64426993
EXECUTIVE SUMMARY
INCORPORATION DATE :
JAN. 14, 2004
CREDIBILITY CODE :
91110106758210263D
REGISTERED LEGAL FORM : SHARES LIMITED COMPANY
CHIEF EXECUTIVE :
MR. MA HUIWEN (LEGAL
REPRESENTATIVE)
STAFF STRENGTH :
99
REGISTERED CAPITAL :
CNY 23,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 29,671,000 (CONSOLIDATED, JAN. 1-JUNE 30, 2017)
EQUITIES :
CNY 72,527,000 (CONSOLIDATED, AS OF JUNE 30, 2017)
PAYMENT :
SLOW BUT CORRECT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : fairly good
OPERATIONAL TREND : 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 limited liabilities co. at local Administration
for industry & commerce (AIC - the official body of issuing and renewing
business license) on Jan. 14, 2004 and has been under present ownership since
2016.
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 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 technical development and
technical services; selling computer, software and auxiliary equipment; import
and export of goods and technologies (with permit if needed).
SC is mainly engaged in selling laser control system, etc.
Mr. Ma Huiwen is legal representative and chairman of SC at present.
SC is known to have approx. 99 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Beijing. The detailed
information of the premise is unspecified.
http://www.bjjcz.cn
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email: jcz@bjjcz.com
market@bjjcz.com
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2016-06-23 |
Legal form |
Limited liabilities co. |
Present one |
|
Chinese company name |
北京金橙子科技有限公司 |
Present one |
|
|
Unspecified |
110106006408497 |
91110106758210263D |
Note: SC changed its Chinese name in 2016, while its English name
remains the same.
SC
was listed in the National Equities Exchange and Quotations with the code of 839562.
Import/ Export License No: 1100758210263
HS Code: 1106360174
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
(as of Aug. 18, 2017)
Name %
of Shareholding
Ma Huiwen 28.98
Beijing Keruizi Technology Development Center (Limited Partnership)
(Literal Translation) 15.255
Lv Wenjie 15.255
Cheng Peng 15.255
Qiu Yong 15.255
Beijing Jingchengzhi Technology Services Center (Limited Partnership)
(Literal Translation)） 10.00
Beijing Keruizi Technology Development Center (Limited Partnership)
(Literal Translation)
==============================
Credibility Code: 91110106MA003E9RXG
Executive partner: Lv Wenjie
Date of incorporation: 2016-01-26
Beijing Jingchengzhi Technology Services Center (Limited Partnership)
(Literal Translation)
==============================
Credibility Code: 91110106MA003ECQ0N
Executive partner: Cheng Peng
Date of incorporation: 2016-01-26
Legal
representative and Chairman:
Mr. Ma Huiwen, born in 1964 with Master’s Degree. He is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman
Also working in Beijing Sharp Speed Precision Technology Co., Ltd. and
Anshan Sharp Speed Precision Equipment Co., Ltd. as legal representative
General
Manager:
Mr. Lv Wenjie, born in 1975, with Master’s Degree. He is currently
responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as general manager
Also working in Beijing Keruizi Technology Development Center (Limited
Partnership) (Literal Translation) as executive partner
Vice
General Manager:
Mr. Qiu Yong, born in 1976, with university education. He is currently
responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as vice general manager.
Directors:
Cheng Peng
Cui Yinqiao
Supervisors:
Zhang Ximei
Wen Lifei
Tian Xinrong
Employee:
Ms. Cecilia
E-mail: sales@bjjcz.com
SC is mainly engaged in selling laser control system, etc.
SC’s products mainly include: DLC SPI Transfer Board, DSP laser control
card, 3D marking control system, and so on.
Trademarks &
patents
|
Registration No. |
9207439 |
9200280 |
9200256 |
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Registration Date |
2012-03-21 |
2012-03-21 |
2012-03-21 |
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Trademark Design |
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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.
*Major Customers:
==============
Wuhan Huagong Laser Engineering Co., Ltd.
Shenzhen Herolaser Equipment Co., Ltd.
Guangzhou Cklaser Co., Ltd.
Note: SC’s management
declined to release its supplier details.
Industry code:
6510
Industry name:
Software Development
The gross domestic product of China in 2016 which is 74412.72 billion
that is increased 6.7% than previous year.
Chinese software industry is now in a period of rapid growth and
accelerating into the fastest-growing and most potential industries in
information industry. According to the relevant statistics of the Ministry of
industry and information technology, in 2010-2015, the business income of
Chinese software industry was increased from 1,300 Billion Yuan to 4,300
Billion Yuan, growth rate was 230%. National scale software and information
technology services enterprises reached 40,941, total software revenue was
4,300 Billion Yuan and increased 16.6% year-on-year, and software product
revenue was 1,400 Billion Yuan and increased 16.4% year-on-year, software
product revenue accounted for 32.56% of total software business revenue.
From the view of industry segments, in 2015, software product revenue
was 1,404.8 Billion Yuan, increased 16.4% year-on-year; reduced 7.1% compared
with 2014, increased 1.2% compared with January to November. And information
security products increased by 16.3%, reduced 0.2% compared with January to
November. The revenue of information technology services was 2,212.3 Billion
Yuan, increased 18.4% year-on-year, increased 1.7% compared with 2014 and 0.6%
compared with January to November.
SC is known to have the following invested companies:
Beijing Sharp Speed Precision Technology Co., Ltd.
-------------------------------------
Credibility Code: 91110105076638553T
Legal representative: Ma Huiwen
Date of incorporation: 2013-08-06
Anshan Sharp Speed Precision Equipment Co., Ltd.
-------------------------------------
Credibility Code: 912103000762704373
Legal representative: Ma Huiwen
Date of incorporation: 2013-09-03
Mianyang Weiwo Technology Co., Ltd.
-------------------------------
Credibility Code: 91510700309356718J
Legal representative: Fu Bo
Date of incorporation: 2014-06-24
Etc.
Branch:
Beijing JCZ Technology Co., Ltd. Wuhan Branch
-------------------------------------------------------
Credibility Code: 91420100MA4KNLB13C
Principal: Hong Kaihua
Date of incorporation: 2016-09-27
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 records 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.
Huaxia Bank Beijing Branch
AC#: 4050200001819100011522
AC#: 030-263-4050200002819100000626 (USD account) (as
given)
Relationship: Normal
Consolidated
Balance Sheet
Unit: CNY’000
|
|
as of Dec. 31,
2016 |
as of June 30,
2017 |
|
Cash & bank |
33,571 |
38,327 |
|
Financial asset designated to be measured by fair value and which change
is recorded in current incomes |
795 |
0 |
|
Notes receivable |
3,335 |
2,234 |
|
Inventory |
6,977 |
10,522 |
|
Accounts receivable |
5,125 |
10,066 |
|
Advances to suppliers |
934 |
2,333 |
|
Other receivables |
166 |
100 |
|
Other current assets |
1,182 |
1,050 |
|
|
------------------ |
------------------ |
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Current assets |
52,085 |
64,632 |
|
Financial assets available for sale |
0 |
1,000 |
|
Fixed assets |
1,261 |
3,102 |
|
Projects under construction |
9,350 |
9,488 |
|
Long term investment |
1,892 |
1,862 |
|
Intangible assets |
125 |
138 |
|
Deferred tax asset |
193 |
168 |
|
Other assets |
1,690 |
161 |
|
|
------------------ |
------------------ |
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Total assets |
66,596 |
80,551 |
|
|
============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
792 |
1,577 |
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Other payable |
18 |
110 |
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Accrued payroll |
2,931 |
949 |
|
Taxes payable |
1,271 |
1,965 |
|
Advances from clients |
1,579 |
3,423 |
|
Other current liabilities |
39 |
0 |
|
|
------------------ |
------------------ |
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Current liabilities |
6,630 |
8,024 |
|
Long term liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
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Total liabilities |
6,630 |
8,024 |
|
Equities |
59,966 |
72,527 |
|
|
------------------ |
------------------ |
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Total liabilities & equities |
66,596 |
80,551 |
|
|
============= |
============= |
Consolidated
Income Statement
Unit: CNY’000
|
|
as of Dec. 31,
2016 |
Jan. 1-June 30,
2017 |
|
Turnover |
55,388 |
29,671 |
|
Cost of goods sold |
15,229 |
8,461 |
|
Taxes and additional of main operation |
784 |
299 |
|
Sales expense |
3,709 |
2,143 |
|
Management expense |
14,782 |
6,800 |
|
Finance expense |
-174 |
50 |
|
Asset impairment loss |
179 |
252 |
|
Incomes on the changes in fair value |
-286 |
0 |
|
Other incomes |
0 |
1,518 |
|
Investment income |
-30 |
-33 |
|
Non-operating income |
3,627 |
18 |
|
Non-operating expense |
24 |
0 |
|
Profit before tax |
24,166 |
13,169 |
|
Less: profit tax |
2,717 |
608 |
|
Profits |
21,449 |
12,561 |
Important
Ratios
=============
|
|
as of Dec. 31,
2016 |
as of June 30,
2017 |
|
*Current ratio |
7.86 |
8.05 |
|
*Quick ratio |
6.80 |
6.74 |
|
*Liabilities to assets |
0.10 |
0.10 |
|
*Net profit margin (%) |
38.72 |
42.33 |
|
*Return on total assets (%) |
32.21 |
15.59 |
|
*Inventory /Turnover ×365 |
46 days |
/ |
|
*Accounts receivable/Turnover ×365 |
34 days |
/ |
|
*Turnover/Total assets |
0.83 |
0.37 |
|
* Cost of goods sold/Turnover |
0.27 |
0.29 |
PROFITABILITY:
FAIRLY GOOD
The turnover of SC appears average in its line.
SC’s net profit margin is good.
SC’s return on total assets is good.
SC’s cost of goods sold is low, comparing with its turnover.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a normal level.
The inventory of SC is maintained in an average level.
The accounts receivable of SC is maintained in an average level.
SC has no short-term loan in 2016 and the 1st half of 2017.
SC’s turnover is in a fair level, comparing with the size of its total
assets.
LEVERAGE: FAIRLY
GOOD
The debt ratio of SC is low.
The risk for SC to go bankrupt is low.
Overall financial condition of the SC: Fairly good.
SC is considered medium-sized in its line with fairly good financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
|
CNY |
1 |
INR 10.16 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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
·
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.