MIRA
INFORM REPORT
|
Report Date : |
13.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI YOULONG RUBBER PRODUCTS CO.,LTD. |
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Registered Office : |
No.20, |
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Country : |
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Date of Incorporation : |
09.06.1993 |
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Com. Reg. No.: |
310115000031574 |
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Legal Form : |
Limited Liabilities
Company |
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Line of Business : |
Manufacture and Sales of Rubber Products. |
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No. of Employees : |
450 (Compound) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
China |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
SHANGHAI YOULONG RUBBER PRODUCTS CO.,LTD.
Currency in this report is Chinese Yuan
unless otherwise stated.
Exchange Rate: 1 USD=6.37 Chinese Yuan
"--"in this report indicates
"unavailable" due to insufficient information or "no comments"
Note:
1.
Due to
recent intervention of government in the AIC systems, reports of companies in
some regions could be impacted for a certain period. For companies registered
in Shanghai, financial information couldn’t be obtained.
2.
According
to SC’s staff Mr. Lu, it has branch factory in Dezhou City, Shandong Province.
However, address of this branch factory was refused to disclose by Mr. Lu.
EXECUTIVE
SUMMARY
|
DATE OF establishment |
June 9th, 1993 |
|
Aic Registration No. |
310115000031574 |
|
REGISTERED LEGAL FORM |
limited liabilities
company |
|
REGISTERED CAPITAL |
10,000,000.00 |
|
main BUSINESS |
Manufacture and sales of rubber products. |
|
tax no. |
-- |
|
TURNOVER |
-- |
|
net profit |
-- |
|
total assets |
-- |
|
net worth |
-- |
|
employees |
450(compound) |
|
import and export permits |
yes |
|
EXCHANGE RATE |
1 Usd=6.37CNY (JULy.12th, 2012) |
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Registered Address |
No.20, Xinchun Rd, Xinchun Village, Chuansha Town, Pudong New Dist, Shanghai |
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Zip Code |
201205 |
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Business Address |
No.20, Xinchun Rd, Xinchun Village, Chuansha Town, Pudong New Dist,
Shanghai |
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Zip Code |
201205 |
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Telephone |
86 21 58941315 |
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Fax |
86 21 58940504 |
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Mobile |
86 13817271088 |
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SIC Code (China) |
2990 Manufacture of other rubber products. |
REGISTRATION
|
Name (Chinese) |
上海游龙橡胶制品有限公司 |
|
Name (English) |
SHANGHAI YOULONG RUBBER PRODUCTS CO.,LTD. |
|
Date of Establishment |
June 9th, 1993 |
|
Registry |
Administration Bureau of Industry and Commerce |
|
Legal Representative |
Zhang Dexiang |
|
AIC Registration Number |
310115000031574 |
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Registered Legal Form |
LIMITED LIABILITIES COMPANY |
|
Registered Capital |
10,000,000.00 |
|
Operating Duration |
From June 9th, 1993
to -- |
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Business Scope |
Processing, manufacture and
sales of rubber products, plastic products, fire-fighting equipments, marine
equipments, etc; Sales of chemical raw
materials, plastic raw materials, textile products, mechanical equipments,
home appliances, etc; Maintenance, technology
consultancy and technology service of marine equipments; Import and export of goods
and technologies. |
Limited liabilities co.
This form of business in PR China is defined as a legal
person. Its registered capital is contributed jointly by at least two
shareholders and no more than fifty. 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 listed
as follows:
-manufacturing co. :
RMB 500,000.00
-trading &wholesaling co. :
RMB 500,000.00
-retailing co. : RMB 300,000.00
-consultancy & service co. :
RMB 100,000.00
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 50% of the registered capital while contribution by intangible
assets must not exceed 20% 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.
REGISTRATION INFO: AVAILABLE
FINANCIAL REPORTS: AVAILABLE
FIELD
INVESTIGATION
1. SC’s business income comes mainly
from rubber products including inflatable life rafts, marine eracuation systems,
printing blankets, etc. Its products are sold both domestically and
internationally. SC’s sales business is developed both directly and indirectly
to its end customers. Its clients are mainly domestic and overseas shipping
companies, fishing companies, traders, distributors, etc. The industry of
rubber products is an industry with fierce competition. There are a lot of
similar enterprises in the local place as SC’s competitors. With long history,
SC has accumulated certain amount of customers and it enjoys certain popularity
in both domestic and international market. Generally speaking, SC’s
competitiveness is above average in the local industry.
2. Shanghai
City, SC’s location has the largest foreign trade port and industrial base in
China. It is the economic, technology, industrial, financial, trade, exhibition
and shipping center of China with highly developed economy. As a domestic owned
enterprise dealing with manufacture and sales of ordinary rubber products, SC
shares no favorable policy provided by the local government.
SHAREHOLDERS
AND SHARES
As
indicated in the following table:
|
Shareholder |
Capital
Subscribed |
Percentage |
|
Zhang Shao-bin |
4,900,000.00 |
49% |
|
Zhang De-xiang |
5,100,000.00 |
51% |
|
Total |
10,000,000.00 |
100% |
|
Shareholder |
Way
of Investment |
Paid-up
Percentage |
|
Zhang Shao-bin |
Capital
|
100% |
|
Zhang De-xiang |
Capital
|
100% |
Background
of major shareholder
|
Name |
Zhang Shao-bin |
|
Gender |
Male |
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Date of birth |
Nov 29th, 1977 |
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Name |
Zhang De-xiang |
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Gender |
Male |
|
Date of birth |
Aug 14th, 1950 |
AFFILIATE(S)
|
Name |
SHANGHAI YOULONG RUBBER PRODUCTS
CO. LTD – LONGSHENG LIFE RAFT MAINTENANCE STATION |
|
Relationship with SC |
Branch |
|
Registered Address |
No.20, Xinchun Rd, Xinchun Village, Chuansha Town, Pudong New Dist, Shanghai |
|
Equipments |
-- |
|
Main business |
Maintenance of life rafts, etc. |
MANAGEMENT
|
Name |
Zhang De-xiang |
|
Gender |
Male |
|
Title |
Chairman |
|
Education |
-- |
|
Working experience |
Over 10 years’ working experience and over 8
years’ management experience. |
NUMBER OF EMPLOYEES
Employees:
450 (total employee number including its branch)
Management
Staff: 50
Recent
recruitment: Yes
|
Job-hunting websites |
Job title |
Number |
|
http://search.51job.com/list/co,c,2256029,0000,10,1.html |
3 |
|
|
http://search.51job.com/list/co,c,2256029,0000,10,1.html |
Tourism marketing representative. |
2 |
|
http://search.51job.com/list/co,c,2256029,0000,10,1.html |
Tourism marketing director. |
3 |
|
http://search.51job.com/list/co,c,2256029,0000,10,1.html |
Human resources assistant. |
1 |
BANKERS INFORMATION
|
Bank name |
Agricultural Bank of China – Chuansha (Shanghai)
Sub-branch |
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Account No. (CNY) |
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Tel. |
86 21 38920017 |
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Comment |
The bank staff confirmed SC opened an account in
the bank, but refused to disclose its account information due to the bank
secrecy. |
OFFICE FACILITIES
|
Geographic Location |
No.20, Xinchun Rd, Xinchun Village, Chuansha Town, Pudong New Dist,
Shanghai |
|
Area |
20,000 square meters |
|
Environment |
Industrial Zone. |
|
Traffic condition |
Convenient (closed to Yingbin Express Way, Nanliu Road, Chuanzhan Road
and Xinchun Road) |
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Purpose |
Office/Warehousing/Factory. |
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Property Ownership |
Rented |
WEBSITE
|
Website |
http://www.youlongrubber.com/ |
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e-mail |
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Operation status |
Operational |
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Copyright |
Copyright reserved by SC. |
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Language |
Chinese and English. |
TRADEMARKS
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Total trademark |
6 (only the latest 3 are listed) |
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Registration No. |
1363795 |
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Registration date |
Sep 8th, 1998 |
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Image |
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Registration No. |
8264045 |
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Registration date |
May 4th, 2010 |
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Image |
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Registration No. |
8264046 |
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Registration date |
May 4th, 2010 |
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Image |
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PATENTS
|
Total patents |
1 |
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Application No. |
200920213443.3 |
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Application date |
Dec 21st, 2009 |
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Patent name |
A kind of life-saving floating platform. |
MAIN
PRODUCTS & SERVICES
|
Main business |
Manufacture and sales of rubber products. |
|
Products and services |
SC mainly deals with manufacture of
inflatable life rafts, marine evacuation systems, printing blankets and other
inflatable products. Its products include jettisonin life rafts, marine KHY
(SR) life rats, marine evacuation systems, fishing rafts, yacht rafts, etc.
In addition, SC also deals with travel service. |
|
Picture of specific products |
|
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Annual production capacity |
-- |
|
Plants and equipments |
-- |
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Awards & Honors |
-- |
|
Certificates / licenses |
ISO Quality Management System Certification;
Military Products Quality System Certification; China Classification Society
Certification; ZY Certification; ABS Certification; EC Certification; GL
Certification; LR Certification, etc. |
SALES
INFORMATION
|
Domestic sales |
60% |
|
Regions |
All
over China |
|
Major domestic clients |
LIAONING DALIAN
FISHING VESSEL INSPECTION BUREAU; GUANGZHOU SHUNHAI LIFE-SAVING EQUIPMENTS
CO. LTD, etc. |
|
Competitors |
SHANGHAI CUNHONG SHIP
LIFE-SAVING EQUIPMENTS CO. LTD; SHANGHAI STAR RUBBER PRODUCTS CO., LTD.;
SHANGHAI HAIAN LIFE-SAVING EQUIPMENTS CO. LTD, etc. |
|
Payment terms |
Prompt payment; on credit |
|
Export |
40% |
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Regions |
USA,
Germany, Europe, Southeast Asia, etc. |
|
Major overseas clients |
International
traders, etc. |
|
Payment terms |
L/C, T/T |
|
SC’s sales business is
developed both directly and indirectly to its end customers. It has distributors
and service station in many domestic cities. With long history, SC’s clients
are widely distributed. |
|
|
The above information was
confirmed by SC’s employee. |
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PURCHASE
INFORMATION
|
Main Commodities Purchased |
Rubber, blanket, production equipments,
office supplies, etc. |
|
Number of Major Suppliers |
About 5 |
|
Region |
Domestic: 30 % Import: 70% |
|
Major suppliers |
51 Job Network Information Technology (Beijing)
Co. Ltd – Shanghai Branch, etc. |
|
Main Terms of Payment |
Local: Prompt payment; on
credit Import: L/C, T/T |
|
SC’s raw materials including rubber, etc are
mainly imported from overseas countries. Its suppliers are mainly from Southeast
Asian countries including Vietnam, Malaysia, etc. With long history, it has
stable sources of goods. |
|
|
The above information was confirmed by SC’s
employee. |
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CREDIT
|
Name of supplier |
51 Job Network Information
Technology (Beijing) Co. Ltd – Shanghai Branch, |
|
Main commodities and service supplied |
Network recruitment service. |
|
Interviewee |
Business staff. |
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Telephone of Interviewee |
86 21 61601888 |
|
Payment comment |
The investigated person confirmed SC is one
of their clients. They use prepayment terms and SC’s payments status is good. |
LITIGATION
RECORDS
After checking with China Court
organization, the local court website and other major searching websites, no
litigation record related to SC in the latest three years is found.
OTHER
ADVERSE MEDIA INFORMATION
|
Date |
Source
|
Content
|
|
June
13th, 2012 |
http://www.cfr.gov.cn/Html/2012_06_12/2_1559_2012_06_12_21976.html |
During
the casual inspection of SHANGHAI FISHING VESSEL INSPECTION
BUREAU, an inflatable life raft was found to have inflatable problem |
FINANCE
SC’s financial information can’t be obtained after searching through all
available channels. According to SC’s sales staff Mr. Lu, it’s a large-sized
enterprise and its turnover of 2011 was about 0.2 billion CNY.
Important Ratios:
|
|
2010 Industry Financial
Indices |
|
Return on net
assets (%) |
3.60 |
|
Return on total
assets (%) |
1.40 |
|
Gross profit
margin (%) |
9.40 |
|
Turnover of
total assets |
0.70 |
|
Turnover of
current assets |
1.70 |
|
Turnover days of
account receivable |
59.02 |
|
Inventory
turnover days |
|
|
Asset liability
ratio (%) |
68.20 |
|
Current ratio |
1.09 |
|
Quick ratio |
0.68 |
Analysis of financial
indicator
SC
mainly deals with manufacture and sales of rubber products including inflatable
life rafts, marine eracuation systems, printing blankets, etc and belongs to
other rubber products manufacture industry. As an indispensible part of
people’s life, the industry has a bright prospect. With long history, it has
accumulated abundant industry and product manufacture experience. It has
certain competitiveness in the local industry. SC’s location Shanghai City is a
highly developed city with stable foreign trade platform. Its overall economy
environment is satisfactory. With individual shareholders, SC’s financing
capacity and risk resisting capacity are relatively weak.
INDUSTRY
PROFILE
Industry
SIC Code (China): 2990 Manufacture of other rubber products.
Description: Manufacture of
other rubber products including rubber balloon, rubber lifebelts, rubber
airbags, etc.
Status
Quo & Trend
From 2011 to 2015, rubber products industry
will increasing stably as people’s demand for rubber products is increasing. The
production value of rubber products industry will increase with the price
increasing of petroleum. The annual increasing rate is predicated to be about
12% to 15%. The prospect of rubber product industry is bright.
Rubber products industry is an indispensible
part of national economy. From January to June in 2011, there were totally 502
large-sized enterprises in this industry among which 62 suffered from loss; the
total turnover was 25,411,302,000.00 CNY, increasing 27.38% year/year; the
total profit was 1,340,941,000.00 CNY.
Industry Associations
|
Name of association |
Membership of subject (Yes/No) |
|
China Rubber Industry Association Rubber
Products Branch |
Not Known |
|
China
Fire Protection Association |
Not Known |
|
China Rubber Industry Association |
Not Known |
GENERAL
COMMENTS
Established in June, 1993, SC
is engaged in manufacture and sales of rubber products including inflatable life
rafts, marine eracuation systems, printing blankets, etc. Its products are
mainly sold to domestic and overseas fishing companies, shipping companies,
distributors, etc. Due to the influence of international trade situation and
financial crisis, SC’s focus was moved to domestic market. With long history,
SC has developed certain brand advantages and stable customers. It has many
life raft maintenance stations both domestically and internationally. With long
history, SC enjoys certain popularity in the local industry.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.86.28 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.