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MIRA
INFORM REPORT
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Report No. : |
500366 |
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Report Date : |
27.03.2018 |
IDENTIFICATION DETAILS
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Name : |
Shenzhen Qunsuo
Technology Co., Ltd. |
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Registered Office : |
4/F, Bldg. C, Fuxinlin Industrial Park, Hangcheng Industrial Zone,
Xixiang Street, Baoan District, Shenzhen, Guangdong Province, 518100 Pr |
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Country : |
China |
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Date of Incorporation : |
26.05.2011 |
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Credibility Code
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914403005763982262 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject registered business scope includes technology development and
selling electronics and electronic network products; initiating industry;
domestic trading; import and export business (Items which are prohibited by
law and restricted under government regulation are exceptional.)
manufacturing and processing electronics. |
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No. of Employees : |
Not Available |
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 & address
Shenzhen Qunsuo Technology Co., Ltd.
4/F, BLDG. C, FUXINLIN INDUSTRIAL PARK, HANGCHENG INDUSTRIAL ZONE,
XIXIANG STREET, BAOAN DISTRICT, SHENZHEN, GUANGDONG PROVINCE, 518100 PR CHINA
TEL: 86 (0) 755-61153535/86 (0) 13040801486
FAX: 86 (0) 755-61153535 ext. 802
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY 26, 2011
CREDIBILITY CODE : 914403005763982262
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE : CHEN ZHILONG (legal representative)
STAFF STRENGTH : N/A
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
manufacturing and 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
Note: Instead of the
given name, SC’s complete company name should be the heading one.
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 May 26, 2011.
Company Status: Limited liabilities co. This
form of business in PR China is defined as a legal person. No more than
fifty shareholders contribute its registered capital jointly. Shareholders
bear limited liability to the extent of shareholding, and the co. is liable
for its debts only to extent of its total assets. The characteristics of
this form of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The
board of directors is comprised of three to thirteen members. The
minimum registered capital for a co. is CNY 30,000. Shareholders
may take their capital contributions in cash or by means of tangible assets
or intangible assets such as industrial property and non-patented
technology. Cash
contributed by all shareholders must account for at least 30% of the
registered capital. Existing
shareholders have pre-exemption right to purchase shares of the co. offered
for sale by the other shareholders and to subscribe for the newly increased
registered capital of the co.
SC’s registered business scope includes technology development and
selling electronics and electronic network products; initiating industry;
domestic trading; import and export business (Items which are prohibited by law
and restricted under government regulation are exceptional. ) manufacturing and
processing electronics.
SC is mainly engaged in manufacturing and selling printer.
Chen Zhilong has been legal representative
and executive director of SC since 2017.
SC’s management declined to disclose its staff strength.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the industrial zone of Shenzhen. The
detailed information of the premise is unspecified.
http://www.qsprinter.com
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email: info@szqunsuo.com
2853296622@qq.com
qly@szqunsuo.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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2015-08-25 |
Registered capital |
CNY 100,000 |
Present amount |
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2017-02-23 |
440306105429590 |
914403005763982262 |
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2017-3-17 |
Legal representative |
Tan Qun |
Present one |
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2017-5-11 |
Shareholders |
Liu Wanyong 30.00% |
Present ones |
Import/ Export License No: 4403576398226
HS Code: 4403160PBS
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Chen Zhilong 50
Tan Qun 50
Legal
representative and Executive director:
Chen Zhilong is currently responsible for the overall management of SC.
Working Experience(s):
From 2017 to present Working
in SC as legal representative and executive director
Also working in Shenzhen Suoqun Technology Co., Ltd. (Literal
Translation) as legal representative
General
manager:
Tan Qun is currently responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as general manager
Supervisor:
Liu Wanyong
SC is mainly engaged in manufacturing and selling printer.
SC’s products mainly include: Mobile Printer, Desktop Printer, Label
Printer, Smart Terminal and Wireless Barcode Scanner, 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.
Trademarks &
patents
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Registration No. |
12289796 |
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Registration Date |
2014-08-28 |
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Trademark Design |
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Note: SC’s management declined to release its customer and supplier
details.
Industry code:
3470
Industry name:
Culture and office machinery manufacturing
The gross domestic product of China in 2016 which is 74412.72 billion
that is increased 6.7% than previous year.
In December 2015, the cultural and office machinery industry achieved an
export delivery value of 7.97 billion yuan, a year-on-year growth rate of
negative 26.19%. From January to December, the accumulated export delivery
value of the cultural and office machinery industry totaled 102.969 billion
yuan, a year-on-year increase of minus 17.99%. In December 2015, in the major
products of the culture and office machinery industries, the output of products
showed a downward trend, and the decline of digital cameras was the most
significant, reaching negative 40.74%.
From January to December, except for photocopying and offset printing
equipment, the cumulative growth of the output of the other two products showed
a negative year-on-year growth rate. Among them, the decline in digital cameras
was most noticeable, a decrease of 20.39% year-on-year.
Shenzhen Suoqun Technology Co., Ltd. (Literal Translation)
====================
Credibility Code: 914403003425832693
Legal representative: Chen Zhilong
Date of incorporation: 2015-05-25
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 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.
Ping’an Bank Shenzhen Xincheng Sub-branch
AC#: 0292100348571
Relationship: Normal
SC’s management declined to release any financial information.
SC was established in 2011, taking into consideration of SC’s general
performance, reputation as well as market conditions we would rate SC as an
above average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.90 |
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1 |
INR 91.87 |
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Euro |
1 |
INR 80.25 |
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CNY |
1 |
INR 10.34 |
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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VIV |
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Report Prepared
by : |
TPT |
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
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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.