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MIRA INFORM REPORT
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Report No. : |
493302 |
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Report Date : |
23.02.2018 |
IDENTIFICATION DETAILS
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Name : |
LONGSE TECHNOLOGY CO., LTD. |
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Formerly Known As : |
GUANGZHOU LONGSE TECHNOLOGY CO., LTD. |
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Registered Office : |
Factory 2#, 4#, 728 Kaichuang Avenue,
Economic And Technological Development Zone, Guangzhou, Guangdong Province
510530 Pr |
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Country : |
China |
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Date of Incorporation : |
29.04.2006 |
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Unified Social
Credit Code : |
91440101786097245Y |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject registered business scope includes engineering and
technical research and experimental development; importing and exporting technology;
manufacturing safety inspection instrument; importing and exporting
commodities; commodities wholesaling trade; intelligent installation
engineering service; software retailing; commodities retailing trade;
electronic equipment engineering installation service; software development;
manufacturing communication terminal equipment and video recording and
playing equipment. |
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No. of Employees : |
1,000 |
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
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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 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.
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Source
: CIA |
Company
name & address
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COMPANY NAME |
LONGSE TECHNOLOGY CO., LTD. (FORMER NAME: GUANGZHOU LONGSE
TECHNOLOGY CO., LTD.) |
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CURRENT ADDRESS/ REGISTERED
ADDRESS |
FACTORY 2#, 4#, 728 KAICHUANG AVENUE,
ECONOMIC AND TECHNOLOGICAL DEVELOPMENT ZONE, GUANGZHOU, GUANGDONG PROVINCE
510530 PR CHINA |
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TEL.
NO. |
86 (0) 20-66217333/66217112 |
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FAX
NO. |
86 (0) 20-66217338 |
EXECUTIVE
SUMMARY
Date of Registration : april 29, 2006
UNIFIED SOCIAL CREDIT CODE : 91440101786097245Y
LEGAL FORM : SHARES LIMITED
COMPANY
REGISTERED CAPITAL : CNY 60,000,000
staff :
1,000
BUSINESS CATEGORY : manufacturing & TRADING
Revenue :
n/a (AS
OF DEC. 31, 2016)
EQUITIES :
n/a (AS
OF DEC. 31, 2016)
WEBSITE : www.longse.com
E-MAIL :
info@longse.com
PAYMENT :
slow but correct
MARKET CONDITION : average
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : fairly
steady
GENERAL REPUTATION : AVERAGE
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 shares limited company of PRC with State Administration of Industry &
Commerce (SAIC) under Unified Social Credit Code: 91440101786097245Y.
SC’s registered capital: CNY 60,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2016-1-28 |
Registered Capital |
CNY 54,000,000 |
CNY 60,000,000 |
|
-- |
Registration No./ Unified Social Credit Code |
440106000113390 |
91440101786097245Y |
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2018-1-24 |
Company Name |
Guangzhou Longse Technology Co., Ltd. |
Longse Technology Co., Ltd. |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
|
Zhuhai Longchi Enterprise Management
Consulting Partnership Enterprise (Limited Partnership) |
3.42 |
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Zhuhai Beichi Enterprise Management
Consulting Partnership Enterprise (Limited Partnership) |
6.58 |
|
Chen Mingwei |
9 |
|
Quan Shaojun |
81 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and Chairman |
Quan Shaojun |
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General Manager and Director |
Chen Mingwei |
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Director |
Guan Xin |
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Li Wenjing |
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Duan Xiansen |
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Supervisor |
Yuan Mingfang |
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Liu Shan |
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|
Luo Sha |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Zhuhai Longchi Enterprise Management
Consulting Partnership Enterprise (Limited Partnership)
3.42
Zhuhai Beichi Enterprise Management
Consulting Partnership Enterprise (Limited Partnership)
6.58
Chen Mingwei 9
Quan Shaojun 81
Zhuhai Longchi Enterprise Management
Consulting Partnership Enterprise (Limited Partnership)
-------------------------------------------------------------
Unified Social Credit Code:
91440400MA4UKH6EXD
Zhuhai Beichi Enterprise Management
Consulting Partnership Enterprise (Limited Partnership)
--------------------------------------------------------------
Unified Social Credit Code:
91440400MA4UKMBM04
MANAGEMENT
Quan Shaojun, Legal Representative and Chairman
-----------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative and chairman
Chen Mingwei, General Manager and Director
------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At
present, working in SC as general manager and director
Director
-----------
Guan
Xin
Li
Wenjing
Duan
Xiansen
Supervisor
--------------
Yuan
Mingfang
Liu
Shan
Luo
Sha
BUSINESS
OPERATION
SC’s registered business scope includes engineering and
technical research and experimental development; importing and exporting
technology; manufacturing safety inspection instrument; importing and exporting
commodities; commodities wholesaling trade; intelligent installation
engineering service; software retailing; commodities retailing trade;
electronic equipment engineering installation service; software development;
manufacturing communication terminal equipment and video recording and playing
equipment.
SC is mainly
engaged in manufacturing and selling communication terminal equipment and video
recording and playing equipment.
SC’s products
mainly include:
Network Camera
Wireless Product
HD Coaxial Camera
Video Recorder
PTZ Product
DIY Kit
Accessories
Trademark:
SC sources the materials 100% from domestic
market. SC sells 60% of its products in domestic market, and 40% to overseas
market.
The buying terms
of SC include Check, T/T and Credit of 30-60 days. The payment terms of SC
include T/T, L/C and Credit of 30-60 days.
Major Customers,
--------------------
Bluei Store
Private Ltd.
Sistemas
Inteligentes De
Manzur Monzon
Cristhian
Staff & Office:
--------------------------
SC is known
to have approx. 1,000 staff
at present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
RELATED
COMPANY
SC is known to have the
following subsidiaries at present,
Guangzhou
Changshi Wulian Technology Co., Ltd.
Acesee
(Guangzhou) Smart Technology Co., Ltd.
Cantonk
(Guangzhou) Corporation Limited
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
The bank
information of SC is not filed in local SAIC.
FINANCIALS
SC’s financials are not filed in local SAIC,
and SC also refused to release the details.
CONCLUSIONS
SC is considered medium-sized in its line with 12 years history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.05 |
|
|
1 |
INR 90.41 |
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Euro |
1 |
INR 79.83 |
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CNY |
1 |
INR 10.23 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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
·
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.