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Shenzhen Changhong Technology Co.,Ltd. 928111877 Dec 25,2012 Dec 25,2012
Inquiry Date Inquiry Subject Inquiry Address
: Oct 11,2012 : 深圳市昌红科技股份有限公司 : Westside of Jinlong Road., Pingshan New District, Shenzhen, Guangdong, P.R.C. 518118
Inquiry Phone/Fax : +86 755 89785568(P),+86 755 89785568(F) Inquiry Reference : Marketing Dept
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Shenzhen Changhong Technology Co., Ltd. Report compiled Dec 25,2012 ă€€
Company Name Shenzhen Changhong Technology Co., Ltd. Official English Yes Name Trading Style CHANGHONG TECHNOLOGY Chinese Name 深圳市昌红科技股份有限公司 Trading Style 昌红科技 (Chinese) DUNS® Number 52-818-5844 Address Westside of Jinlong Avenue, Pingshan New District, Shenzhen Guangdong Postal Code 518118 Address 坪山新区坪山锦龙大道西侧 (Chinese) 深圳市 广东省 Telephone 0755 89785568-619 Facsimile 0755 89785598 Website http://www.szchanghong.com E-mail email@example.com Type of Business A joint stock Listed on Shenzhen Stock Exchange Year Started 2001 History Clear (Complete Shareholder(s) and management information) Imports Yes Exports Yes Employees 2,100(Total) 645 (Here) Principal Huanchang LI / Chairman US SIC Code 3089 0608 Primary Business Injection molded finished plastics products, nec
RIS K EVAL U ATIO N EMMA Score D&B Rating D&B PAYDEX®
2 5A1 78
L EG AL EVENTS Litigation Records
P RINC IP AL INFO RMATIO N Principal(s)
P AY MENT INFO RMATIO N Trade References
C O MP ANY KEY EVENTS History Changes Media Records
FINANC IAL S U MMARY Registered Capital Sales/Turnover
RMB 100,500,000 351,328,000 (2012/06/30)
Tangible Net 697,800,000 (2012) Worth Total Assets 794,725,000 (2012) Shareholders 714,105,000 (2012) Equity CURRENCY All monetary amounts quoted in this report are shown in Renminbi(RMB) unless otherwise stated. REMARK "-" stands for "Insufficient information" or "No comments".
Risk Assessment EMMA Score Relative Risk Low Risk
(Tangible Net 5A worth > 450,000,000)
Company Overview Subject was established in 2001. Subject is mainly engaged in manufacturing and selling precision molds and injection molding products. Currently, subject owns around 2100 staff（Headquarters 645 staff). In 2011, subject's Revenue reached RMB 342,796,000, Operation Profit was RMB 36,544,000 and Quick Ratio that year was 5.33. Subject's EMMA score is "2", which is in the low risk range. Based on its financial statements, subject's financial status is considered as fair, indicating subject's real risk is probably consistent with the EMMA score reflected.
Current Investigation On Dec 24,2012 ,Department Sales Engineer Mr. Wan Min (Tel: 0755-89785568-619) submitted all information in this report. The D&B Rating in the report is based on subject's latest financial statement of 2011. The information in this report is collected and validated through telephone interview with subject, review of public web sites of the business and acquisition of data that is publicly available by the Chinese Government.
History Changes Date Event Dec 20,2007 Name changed May 15,2012 Name changed Nov 11,2002 Capital changed May 17,2007 Capital changed Dec 20,2007 Capital changed Apr 24,2008 Capital changed May 09,2008 Capital changed Jul 06,2011
Capital changed Capital changed
Dec 16,2005 Registered Address Changed Dec 20,2007 Legal Status Changed Dec 20,2007 Registration Number Changed
EMMA Score 1
EMMA Score Analysis Subject's EMMA score is mainly impacted by the following risk drivers:
Subject is a joint stock, which is classified as a lower risk type of business. Subject's history is Clear (Complete Shareholder(s) and management information), which indicates a lower risk level. Trade experiences within 12 months indicate subject has low percent of slow payment in amount, indicating lower risk level. Subject/Industry PAYDEX® shows payment behaviour of the company/industry is good, indicating lower risk.
By evaluating all risk factors, the company is assigned with EMMA score of "2", indicating "Low Risk". Industry Norm Grouping
Industry Group SIC Industry Group Description Industry Group EMMA Score Quartile Values
3089 Mfg plastic products Lower Quartile
Median Upper Quartile
Company Risk Vs Industry Norm Chart EMMA Score
Lower Quartile Median Upper Quartile 0
Shenzhen Changhong Technology Co., Ltd.
9 10 EMMA Score Industry
Distribution of EMMA Score in Huaxia D&B China's Database 40%
1 0% 2 4% 3 10% 25% 4 17% 20% 5 21% 15% 6 23% 10% 7 16% 5% 8 6% 0% 9 3% 1 2 3 4 5 6 7 8 9 10 10 0% Note: please refer to the report appendix for the principle and m ajor factors of Huaxia D&B China EMMA Score.
Risk Assessment Matrix PAYDEX PAYDEX>=80 80>PAYDEX>=60 PAYDEX<60
Low (EMMA 1 - 3) AA AB (Subject lies in this group) AC
Risk Range Medium (EMMA 4 - 7) BA
High (EMMA 8 - 10) CA
Interpretation and Analysis of Risk Assessment Matrix Classifications Quality group
Low risk group
High risk group Monitoring group *Risk levels are
Description Credit Policy Business is sound, and the bills are Favorable credit policy can AA->AB paid promptly with good credit be granted with automatic reputation. approval. Business is operated under low risk, Appropriate credit policy is BA->BB->AC and some delay payment behaviors suggested with some exist. manual review. Business is operated under high risk, Relatively strict credit policy CA->BC->CB and some severe delay payment is suggested with detailed behaviors exist. manual review. Business is run under high risk or Avoid credit sales. Cash CC with high possibility of windup, and settlement is suggested. the bills are unable to be paid in time. listed in order of risk from low to high.
According to the Risk Assessment Matrix, subject is rated as "AB", which represents the subject belongs to the quality group: The risk level of the subject is low, which reveals its business risk is relatively lower than the average level amid all Chinese enterprises; The PAYDEX® of subject/industry indicates that some delay payment behavior exists. However, the time and amount of the delay is relatively acceptable, thus its delay payment behavior is not severe; Subject is rated as a high quality company due to its sound operation, low risk level and good credit reputation. Even the subject/industry has some short-term delay payment behaviors, which might be caused by the specific industry character, subject is still recommended to be granted with relative favorable credit policy.
D&B PAYDEX® The D&B PAYDEX® is a unique indicator of payment performance weighted by the monetary value of the payment experiences as reported to D&B by trade references. A detailed explaination of how to read and interpret PAYDEX values can be found in the Appendices section of this report.
PAYDEX of This Business
When weighted by value,payments to suppliers average 3 days beyond terms based on payments collected over the last 24 months
PAYDEX of This Industry
When weighted by value,payments to suppliers average 14 days beyond terms based on payments collected over the last 24 months
This business has a higher PAYDEX than
Industry Name:Mfg plastic products
Industry Median:71 Upper/Lower Quartile:80/58 Based on:1129 businesses
D&B PAYDEX® Key High risk of late payment(average 30 to 120 days beyond terms)
Medium risk of late payment(average 30 days or less beyond terms)
Low risk of late payment(average prompt to 30+ days sooner)
Trade Payment Information Trade Payment Experiences Summary Value Bands - Now Owes No. of Sum of Now Within 1-30 31-60 61-90 91+ Owes Terms RMB Exp Days Days Days Days RMB >10,000,000 0 0.00 0% 0% 0% 0% 0% 1,000,000 - 9,999,999 0 0.00 0% 0% 0% 0% 0% 500,000 - 999,999 0 0.00 0% 0% 0% 0% 0% 100,000 - 499,999 1 400000.00 0% 0% 0% 0% 100% 50,000 - 99,999 0 0.00 0% 0% 0% 0% 0% <50,000 7 78500.00 87.5% 12.5% 0% 0% 0% TOTAL 8 478500.00 77.78% 11.11% 0% 0% 11.11% Note: Above Trade Payment Experiences Summary is derived by analysis trade payment experiences details within 24 months. Trade Payment Experiences Details (Max. 100 records displayed) (Amounts may be rounded to the nearest figure in prescribed ranges) Date
Oct 30,2012 Jun 30,2012 May 31,2012 Apr 01,2012 Jan 31,2012 Mar 17,2011 Jan 31,2011
Prompt Prompt/Slow 30+ Prompt Prompt Slow 120+ Prompt Prompt
High Credit 5,000,000 7,500 1,000 37,500 400,000 6,300,000 100,000
Now Owes 0 7,500 1,000 0 400,000 0 35,000
Past Due 0 1,000 0 0 400,000 0 0
Selling Terms Net Cash 30 Cash 30 EOM 30 Net EOM 60 EOM 60
Last Sale Oct Jun May Apr
30,2012 15,2012 15,2012 01,2012 -Mar 17,2011 Dec 15,2010
Jan 31,2011 Dec 31,2010
EOM 60 Dec 15,2010 EOM 60 Dec 15,2010
Note: The above payment record reflects how accounts are paid in relation to the terms granted. Slow-30, for example, indicates a 30 day term where 30 additional days are taken. In some instance, payment beyond terms can be the result of disputes over merchandise, lost invoices, etc
Registration Registration Date
Shenzhen Administration for Industry & Commerce
National Organization Code
Type of Business
a joint stock
West of Jinlong Ave., Pingshan, Pingshan New Area,Shenzhen City
Non-metallic products mold design, processing, manufacturing; plastic products, tooling, metal manufacturing (excluding the above-mentioned items restricted item); doing import and export business (legal, administrative regulations, the State Council decided to ban the item except to restrict the project to obtain a permit before the operation); mold technical advice and services.
Subject is listed on the Shenzhen Stock Exchange, with Effective Date on Dec 22,2010 under List Code 300151.
Shareholder(s) Shareholding Structure Name
Li Huanchang China 李焕昌 Hua Shoufu China 华守夫 Xu Yanping China 徐燕平 Shenzhen Zhongke Hongyi Venture Investment Co., Ltd. China 深圳市中科宏易创业投资有限公司 Zhejiang Lianheng Venture Capital Co., Ltd. China 浙江联盛创业投资有限公司 Deng Shiyan China 邓世珩 Others China 其他 Total
Comment: Its operation period is permanent. Subject passed the annual inspection of 2011 with Administration for Industry & Commerce.
History Changes Name Changed From:
Shenzhen Changhong Hardware Manufacture Co., Ltd.
Co., Ltd. To:
Shenzhen Changhong Mold Technology Co., Ltd. On(in) Dec 20,2007
Shenzhen Changhong Technology Co., Ltd. (Current Name)
On(in) May 15,2012
Registered Address Changed From:
Jianxin Village, Ailian Village, Longgang Town, Longgang Dist., Shenzhen
West of Jinlong Ave., Pingshan, Pingshan New Area,Shenzhen City(Current Registered Address)
On(in) Dec 16,2005
Capital Changed From:
On(in) Nov 11,2002
On(in) May 17,2007
On(in) Dec 20,2007
On(in) Apr 24,2008
On(in) May 09,2008
On(in) Jul 06,2011
RMB 100,500,000(Current Capital)
Change date not available
Legal Status Changed From:
a limited company
a joint stock(Current Legal Status)
On(in) Dec 20,2007
Registration Number Changed From:
440301103072336(Current Registration Number)
On(in) Dec 20,2007
History Summary Subject was established in 2001, its current shareholders include Li Huanchang, Hua Shoufu, Xu Yanping, Shenzhen Zhongke Hongyi Venture Investment Co., Ltd., Zhejiang Lianheng Venture Capital Co., Ltd., Deng Shiyan and Others.Subject's registered capital is RMB 100,500,000 at present.
Principal(s) Huanchang LI - Chairman/Legal Representative 李 焕昌 Started with Subject Activity Status Area of Responsibility
2001 Yes Overall management
Guoquan ZHOU - Financial Controller 周 国铨 Started with Subject
Yunfang WANG - Vice General Manager 王 云芳
Started with Subject
Related Working Experience 5 Year+
Line of Business Subject is a manufacturer. Subject is mainly engaged in manufacturing and selling precision molds and injection molding products. US SIC Code 3089 0608
Injection molded finished plastics products, nec
The operation is seasonal. The peak season of subject is from Mar to Sep. The low season of subject is from Oct to Feb.
Brands Brands Owned
Awards & Certifications Awards & Certifications Name Date Awarded Awards & Certifications Name Date Awarded Awards & Certifications Name Date Awarded Awards & Certifications Name Date Awarded
ISO 13485:2003 2011/11/29 ISO 9001:2008 2009/12/21 ISO/TS16949:2002 2009/12/21 ISO14001:2004 2006/7/26
Subject is entitled to independent import and export rights.
Products & Services Product Name
Precision Mould Injection Molding Products
500 sets per year (2010) 6,000 tons per year (2010)
Subject owns 210 sets of manufacturing equipments. Subject owns 30 production lines.
Purchasing Purchase Territory Area
Purchasing Terms Terms Monthly D/A
Percent 1-30 days 1-60 days -
75% 25% -
Purchasing Settlement Method Settlement Method
Check Cash T/T
1% 1% 98%
Major Suppliers Area
Domestic Domestic Overseas Overseas Overseas
Heyuan Lung Kee Metal Products Co., Ltd. Brother Industries (Shenzhen) Ltd. Pengfei Holding Co.,Ltd. ANKO TRADING (H.K.) LIMITED INABATA SANGYO (H.K.) LIMITED HONG KONG YILIFENG PLASTICS INTERNATIONAL CO., LIMITED Shanghai Kumho Sunny Plastics Co., Ltd.
53-002-7028 54-498-1905 66-229-7886 68-578-3524
Selling Sales Territory Area
East China South China Japan ( 88.65% ) United States ( 4.66% ) Others ( 6.69% )
Selling Terms Terms Partial Advance Agreement/Contract basis D/A
Percent 1-60 days -
Selling Settlement Method Settlement Method
Customer Type Customer Total
Major Customers Area
Konica Minolta Commercial Technology Manufacturing (Hong Kong) Co., Ltd.
Domestic Domestic Domestic Domestic Domestic Overseas Overseas
Manufacturing (Hong Kong) Co., Ltd. Konica Minolta Commercial Technology (DongGuan) Co., Ltd. Konica Minolta Business Technologies (Wuxi) Co., Ltd. Brother Industries (Shenzhen) Ltd. Brother Technology (Shenzhen) Ltd. Shanghai Ricoh Digital Equipment Co., Ltd. Thermo Fisher Scientific Inc JIALI Global Technical Co., Ltd.
52-780-6781 54-524-4241 54-498-1905 54-529-2831 54-519-5307 54-519-5307 ă€€
Employees Employee Size Type
Total Here Sales Person Plant Worker Administrative Staff Financial Staff Technician
2,100 645 22 645 178 10 260
Major Functional Departments Department(s) Marketing Dept. Finance Dept. Quality Control Dept.
Business Dept. Administration Dept. Research & Development Dept.
Operations Summary Subject is mainly engaged in manufacturing and selling precision molds and injection molding products. It owns brand 'Changhong Technology'. The materials subject demands for its production are 10% purchased domestically. 90% of the materials are imported, mainly from Japan, Germany and other country/region. Heyuan Lung Kee Metal Products Co., Ltd., Brother Industries (Shenzhen) Ltd. and ect. are its suppliers.Subject is entitled to I/E Rights. Currently, subject owns 210 sets production equipment and 30 production lines. Subject's major products are Precision Mould and Injection Molding Products. The productivity of Precision Mould is 500 sets per year. The productivity of Injection Molding Products is 6,000 tons per year. Subject was awarded ISO 13485:2003, ISO 9001:2008, ISO/TS16949:2002and ISO14001:2004 certificate. Subject's major products are Precision Moulds, Injection Molding Products 27.3% of the products are sold domestically. Major customers include Dongguan Meinengda Technology Co., Ltd., Konica Minolta Commercial Technology Manufacturing (Hong Kong) Co., Ltd. among others 72.7% of the products are exported, to Japan, United States and Others and other country/regions.
Location Principal Place of Business Location Description Land Area Used as Occupation Type
A rural area 23,000 sqm Office, factory and warehouse Showroom Owns
Other Place of Business Type Address
REGISTERED ADDRESS West of Jinlong Ave., Pingshan, Pingshan New Area,Shenzhen City ă€€
Linkage Up Minor Shareholder(s) of Subject D-U-N-S
Shenzhen Zhongke Hongyi Venture Investment Co., Ltd.
1801, Block A, Chamber of International Commerce Mansion,Shenzhen ,Guangdong,China
Shares held in subject
Zhejiang Lianheng Venture Capital Co., Ltd.
Address China Shares held in subject
Subsidiaries (subject owns more than 50%) Shanghai Changmei Precision Moulds Ltd. 75% owned by subject
Address No.111 Jiangtian Road (East), Song Jiang Industrial Zone,Shanghai,China Shuochang (Shanghai) Precision Molding Co., Ltd. No.2 Building,No.1199,Xinfei 75% owned by subject Rd,Dongbu New Dist,Songjiang Industrial area,Shanghai,China Heyuan Changhong Precision Machinery Technology Block A,C, Zone C Workshop Co.,Ltd Building, Fumin Industrial 100% owned by subject Park, Keba Road, Hi-New-Tech Develop,Heyuan ,Guangdong,China Shenzhen Boomingshing Medical Device Co., Ltd. 1-3F,No.4 Workshop,Fuxingda 100% owned by subject Industry Park,Lanzhu Road(E),Pingshan New District,Shenzhen ,Guangdong,China Changhong Technology (Hong Kong) Co., Ltd. Rm.1506-1508,15/F,Luoshi 100% owned by subject Commercial Plaza,No.788,, Changshawandao,Jiulong,H.K. Hong Kong Wuhu Changhong Technology Co., Ltd. Machinery Industrial 100% owned by subject Park,Wuhu ,Anhui,China
Duns 52-739-7645 54-526-9057
Finance The 2012 financial statements were obtained from the company's annual/intrim report. Financial Highlights
Current Assets Current Liabilities Working Capital Tangible Net Worth Fixed Assets Total Assets Total Liabilities Shareholders Equity Sales
Dec Change 31,2011 % RMB '000 611,405 -14.14% 102,576 -4.33% 508,829 -15.88% 689,417 171,252 93.81% 808,709 102,576 -6.93% 706,133 342,796 19.78%
Dec 31,2010 RMB '000 712,062 107,214 604,848 690,818 88,363 816,121 110,214 705,907 286,178
Sales Net Profit
342,796 19.78% 33,727 -17.03%
409,581 107,269 708 10,450 3,308 54,573 3,719 2,671 (3)
441,218 91,101 225 8,782 1,489 63,746 3,307 1,537 -
604,533 48,072 - - 1,961 48,797 8,647 52 -
Total Current Assets
Fixed Assets, at cost Other Fixed Assets Construction in Progress
- 85,214 3,149
Total Fixed Assets
Total Intangible Assets
471 8,718 2,271
1,465 5,726 2,145
- 34 573
69,040 407 2,484 3,167 5,522 -
15,000 74,637 1,144 5,954 39 5,802 -
Other Non-Current Liab
Total Non-Current Liabilities
100,500 513,060 9,368 91,177
100,500 513,060 9,368 83,205
67,000 546,560 6,710 85,637
TOTAL LIABILITIES & EQUITY
Cash and Bank Accounts Receivables Notes Receivables Interest Receivable Other Receivables Inventory Advance to Suppliers Curr.Portion of Non-curr.Assets Other Current Assets
LT Equity Investment LT Prepaid Expense Deferred Tax Assets Total Investment & Other Assets TOTAL ASSETS
Short-Term Loans Accounts Payable Other Payables Advances from Customers Provision:Taxes & Fees Accrued Payroll LT Debt Due in 12 Mths
Total Current Liabilities
Sep 30,2012 Dec 31,2011 Dec 31,2010 RMB '000 RMB '000 RMB '000 Interim Fiscal Fiscal (Consolidated) (Consolidated) (Consolidated)
Capital Capital Reserve Surplus Retained Earnings
36,794 50,045 439 1,092 3,344 3,500 12,000
Profit & Loss Statement
Sep 30,2012 Dec 31,2011 Dec 31,2010 RMB '000 RMB '000 RMB '000 Interim Fiscal Fiscal (Consolidated) (Consolidated) (Consolidated)
-Cost of Goods Sold -Sales Tax
(994) 4,063 35,189 (9,618) 227
(535) 3,717 35,441 (9,442) (186)
- 3,343 21,483 3,234 201
Profit/Loss After Tax
+Investment Income -Operating Expenses -Administrative Expenses -Financial Expenses -Asset Impairment Losses
Operating Profit/Loss +Non Operating Income -Non-Operating Expense Profit/Loss Before Tax -Income Tax
Key Financial Ratios
Ratio Current Ratio Quick Ratio Total Debt/Equity Ratio Debt Ratio Collection Period (Days) Payment Period (Days) Inventory Turnover (Days) Asset Turnover Gross Profit Margin % Net Profit Margin % Return on Equity % Return on Assets %
2012/06/30 7.34 6.66 0.11 0.10 82 64 51 0.44 17.84 7.99 3.93 3.53
2011 5.96 5.33 0.14 0.12 95 97 83 0.42 19.43 9.83 4.77 4.17
2010 6.64 6.18 0.15 0.13 60 85 83 0.35 26.37 14.20 5.75 4.98
Overall financial status of subject is considered as fair.
Banking The company maintains relationship(s) with the following bank(s) in China: Bank of China Shenzhen Branch Pingshan Sub Branch Address
No. 39 Zhongxing Road, Pingshan Town, Longgang Dist.,Shenzhen
775757946717 Bank of China, Guangdong Shenzhen Branch Longgang District Subbranch Address
No.18, Dezheng Road, Longgang District Shenzhen
Industry Highlights Date
Up to the end of 2011, the number of enterprises above designated size in China’s plastic product industry reached 12, 963, with 1,244 of them moneylosers and loss range of this industry was about 9.60％. In the aspect of operation condition, the output of plastic products rose stably as well as the sales volume grew steadily. In 2011, the accumulated output of plastic products was 54.74 million tons, which was 22.35% higher year on year. Among that, the output of plastic films, daily plastic products and foam plastics had reached to 8.4364 million tons, 4.5837 million tons and 1.416 million tons separately, which have achieved the increase of 11.17%, 5.26% and 25.38% respectively. The sales volume of plastic products had reached 53.71 million tons with a sales-output ratio of 98.7%. In terms of import and export, the increasing pace of import was dragged back by improved competitiveness of the domestic products, while the recession of the international economic made the increasing
speed of export slow down. In 2011, the volume of imports and export increased separately by 11.76 and 26.47, reaching USD 18.714 billion and USD 46.503 billion respectively. In the aspect of industry investment and operation situation, the total volume of investment in China’s plastic product industry in 2011 was RMB 261.434 billion, which was up 35.6% year on year, while the sales income of products was RMB 1.558374 trillion, 27.52% higher year on year. The total amount of profits reached RMB 88.229 billion, which increased by 32.50% year on year.
Litigation Records As of Dec 24,2012 , HDBC has searched the China Court website, website of local court in the place where subject is located, major domestic courts websites as well as our internal China court database, and found below related court record(s) against the subject. Remark: The above mentioned channels are currently publicly available ones to search for the court records against China enterprises. However, due to lack of a centralized database in mainland China that covers all Chinese enterprises' litigation records, partial cases against subject might not be available. Judgment Date
District Court Judgment
Longgang Dist. People's Court - (2010) Shen Long Fa Zhi Zi No.05458.The case is closed
To compensate the plaintiff with reimbursement of 9,116
Media Records We collected 23 media records on subject company during the past 12 months. Following are the latest 10 ones. For the completed records, you can try our Media Full File Search Service. Please contact our customer service for more details. News Clipping Publication
Sina-Shenzhen Changhong Technology Co., Ltd. held the 2nd special shareholders’ meeting on November 21, 2012, which discussed and approved the proposal of amending the management system for foreign investment, and the proposal of changing the audit institution in 2012. Publication
Sina - Shenzhen Changhong Technology Co., Ltd. (subject) predicts that the net profit belonging to shareholders of listed company from January 1 to September 30, 2012 is between RMB26,702,500 and RMB28,037,600, with the year-on-year increase of between 0% and 5%. Publication
Sina – On September 15, 2012, the directorate of Shenzhen Changhong Technology Co., Ltd. (subject) received the written resignation report submitted by Secretary to Directorate Mr. Liu Gang, who applied for resigning from the position of Secretary to Directorate due to personal reasons. After resignation, Liu Guang will no longer hold any other position in subject.
Sina - Shenzhen Changhong Technology Co., Ltd. (subject) predicts that net profit belonging to shareholders of listed company from January 1 to June 30, 2012 is between RMB16.5 million and
shareholders of listed company from January 1 to June 30, 2012 is between RMB16.5 million and RMB18.8 million, with the year-on-year increase of between 1% and 15%. Publication
Sina – According to the ‘Notice of Enterprise Restructuring, Listing, and Cultivation Project Subsidy Plan with Special Funds of Development of Private Medium and Small Enterprises of Shenzhen of 2011’ (Shen Jing Mao Xin Xi Mi Shu Zi  No. 1291), Shenzhen Changhong Technology Co., Ltd. (subject) has recently received the s and cultivation project with special funds of development of private medium and small enterprises of Shenzhen of 2011. The amount of subsidy is RMB2.8 million. Publication
Sina - Shenzhen Changhong Technology Co., Ltd. (subject) implements the scheme of profit distribution for 2011 as follows: RMB2 (taxes included) in cash for every 10 shares. The record date is June 28, 2012. The ex-right and ex-dividend date is June 29, 2012. Publication
Sina - Shenzhen Changhong Technology Co., Ltd. (subject) held the Annual General Meeting of 2011 on May 24, 2012, which discussed and approved the proposal of the ‘Annual Report of 2011 and Its Abstract’, the proposal of the ‘Scheme of Profit Distribution for 2011’, and the proposal of renewing the engagement of the financial auditor of 2012, etc. Publication
Sina - Shenzhen Changhong Technology Co., Ltd. (subject) predicts that the net profit belonging to shareholders of listed company from January 1 to March 31, 2012 is between RMB8.4 million and RMB9 million, with the year-on-year increase of between 0.36% and 7.53%. Publication
sina.com-Shenzhen Changhong Mold Technology Co., Ltd. (subject) estimated that the net profit attributable to shareholders of listed company from Jan 1, 2011 to Dec, 31 2011 would be RMB31,000,000-34,000,000, which would decrease by 16%-24% over the same period of the previous year. Publication
sina.com-Subject’s board of directors received the written registration from the board secretary Mr Hu Zhenguo that he applied for resigning the post of board secretary and vice general manager because of the personal reason. After the registration, he will no longer hold any post in subject. Subject will employ a board secretary as soon as possible. Before the new appointment, the board chairman Mr Li Huanchang will perform the duty of board secretary.
HDBC EMMA Score D&B EMMA Score (Emerging Market Mediation Alert Score) is a risk assessment model developed for emerging market countries. It is a score developed by data profiling approach and statistical modeling, which predicts the possibility of a business in perilous status of instability or unreliability, such as poor financials, delay payment, stale inventory, abnormal operational status, etc. The EMMA Score provides you with a quick assessment of a business' risk standing, and when used together with other information, allows you to make better risk decisions. The EMMA Score is based on a scale of 1 to 10, where 1 represents a lower risk and 10 a higher risk. EMMA Score for China is initially rolled out in May 2009, derived from the sample analysis of millions of company records. When using the Score to make individual applicant decisions, a customized version of this table based on an analysis of the Score against your customer account portfolio is recommended. It does not necessarily mean doing business with a company, which is assigned with higher Risk Score, will result in increased risk. Considering the particularity of Chinese business environment and in order to make EMMA Score analyze and reflect risk factors of Chinese enterprises more appropriately, HDBC conducted an optimization and adjustment toward EMMA Score in the first half of 2012, combined PAYDEX® to appraisal model as an important risk evaluating dimension and will try harder to deeply reflect the internal factors of enterprise risk. The optimized EMMA Score makes the scores more scientifically and effectively reflect the risk characteristics of current China as an emerging market and more objectively and deeply reflect risk level of Chinese enterprises. EMMA Score for China is calibrated on regular basis following D&B Global Modeling Methodology that captures business environmental change in China caused by macro economy shift and particular systematic events.
systematic events. HDBC EMMA Score Commentary Risk Range
Low Risk Scores Medium Risk Scores High Risk Scores
% of Report in Database
of High Risk % Business 5.7%
Lower Risk Range
Average Risk Range
High Risk Range
The Key Drivers of the EMMA Score include the following: Business Information
Business Type Line of Business
Region & Province Public Record
Employee Size Sales Territory Registered Capital
Number of Negative Record Payment Information Percentage of Overdue Payment
Year of Establishment
History Status Property Ownership EMMA Score Application
Low EMMA Score - May proceed to process the applicant quickly with minimal or no manual review depending on the extent of score validation analysis. Medium EMMA Score - Medium Risk Scores - Recommend a manual review of the applicant based on the applicant's capacity, your internal policy and risk tolerance. High EMMA Score - High Risk Scores - Requires thorough manual review of potential decline, or approval depending on the applicant's capacity, your internal policy and risk tolerance.
Sample Data Analysis of Risk Assessment Matrix Database Risk Matrix Sample Distribution PAYDEX PAYDEX>=80 80>PAYDEX>=60 PAYDEX<60
Low 13.6% 15.2% 0.1%
Risk Range Medium 12.6% 28.7% 15.4%
High 0.5% 1.7% 12.2%
Low 5.8% 5.6% 5.6%
Risk Range Medium 8.4% 8.4% 11.1%
High 9.1% 14.5% 40.4%
Possibility of High Risk Enterprise PAYDEX PAYDEX>=80 80>PAYDEX>=60 PAYDEX<60
Interpretation and Analysis of Risk Assessment Matrix Classifications Quality group
Low risk group
High risk group
Description Business is sound, and the bills are AA->AB paid promptly with good credit reputation. Business is operated under low risk, BA->BB->AC and some delay payment behaviors exist. Business is operated under high risk, CA->BC->CB and some severe delay payment behaviors exist.
Credit Policy Favorable credit policy can be granted with automatic approval. Appropriate credit policy is suggested with some manual review. Relatively strict credit policy is suggested with detailed manual review.
behaviors exist. manual review. Business is run under high risk or Monitoring Avoid credit sales. Cash CC with high possibility of windup, and group settlement is suggested. the bills are unable to be paid in time. *Risk levels are listed in order of risk from low to high. Risk Assessment Matrix is the tool for investigating the insight of subject combined with EMMA Score and PAYDEX®. EMMA Score can indicate the risk level of subject. With the help of PAYDEX®, one can also further analysis subject's risk and find out the internal factors causing risks based on the payment records of subject. In summary, the assessment matrix can make further insightful analysis towards the enterprises with similar EMMA Scores. When using EMMA Score and Risk Assessment Matrix, the combination of other information, such as internal assessment policy of enterprise, commercial information provided by HDBC, and feedback from the people who directly contacts with subject, etc., is recommended. With these information, it will allow you to be more convenient to make risk decisions.
D&B Rating D&B Rating Interpretation Tables Financial Strength Tangible Net worth
Composite Credit Appraisal
Registered Renminbi (RMB) Capital
6,500,000 - 8,499,999
4,500,000 - 6,499,999
2,500,000 - 4,499,999
1,750,000 - 2,499,999
1,000,000 - 1,749,999
650,000 - 999,999
450,000 - 649,999
300,000 - 449,999
200,000 - 299,999
Financial Strength is negative
Financial Strength is undisclosed
New Business: Less than 24 months
Out of Business: Business has ceased to trade
Branch or division location
Investigation is undergoing
Explanation of PAYDEX A score of 80 denotes that payments reported to D&B have generally been made within terms. Scores over 80 indicate that payments reported to D&B have been made earlier than terms. The chart below outlines the specific 0-100 score and what it means. D&B PAYDEX®
100 90 80 70 60 50
Anticipate Discount Prompt 15 days beyond terms 22 days beyond terms 30 days beyond terms
40 30 20 0-19 UN
60 days beyond terms 90 days beyond terms 120 days beyond terms Over 120 days beyond terms Unavailable
Customer Service Customer Service Contact Information Web
firstname.lastname@example.org 400-820-3536 (Shanghai)
Our ref: 201210119309300020 Your ref: CS DEPT.
400-810-3531 (Beijing) 800-830-9032 (Guangzhou)
Remarks Whilst Huaxia D&B China attempts to ensure that the information provided is accurate and complete by reason of the immense quantity of detailed matter dealt within compiling the information and the fact that some of the data are supplied from sources not controlled by Huaxia D&B China which cannot always be verified, including information provided direct from the subject of enquiry as well as the possibility of negligence and mistake, HDBC does not guarantee the correctness or the effective delivery of the information and will not be held responsible for any errors or omissions therein. Copyright © Huaxia D&B China
Published on Dec 26, 2012
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