MIRA
INFORM REPORT
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Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
No.2, |
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Country : |
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Date of Incorporation : |
07.12.1995 |
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Com. Reg. No.: |
130600000024810 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Import and export trading of wide range covering from textile
and garments to machineries, foods etc. |
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No. of Employees : |
120 |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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 |
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 - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, creation of a diversified banking system, development of stock markets, rapid growth of the private sector, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors it considers important to "economic security," explicitly looking to foster globally competitive national champions. After keeping its currency tightly linked to the US dollar for years, in July 2005 China revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2010 stood as the second-largest economy in the world after the US, having surpassed Japan in 2001. The dollar values of China's agricultural and industrial output each exceed those of the US; China is second to the US in the value of services it produces. Still, per capita income is below the world average. The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic demand; (b) sustaining adequate job growth for tens of millions of migrants and new entrants to the work force; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2011 more than 250 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy 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 economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development. In 2010-11, China faced high inflation resulting largely from its credit-fueled stimulus program. Some tightening measures appear to have controlled inflation, but GDP growth consequently slowed to near 9% for 2011. An economic slowdown in Europe is expected to further drag Chinese growth in 2012. Debt overhang from the stimulus program, particularly among local governments, and a property price bubble challenge policy makers currently. The government's 12th Five-Year Plan, adopted in March 2011, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent on exports in the future. However, China has made only marginal progress toward these rebalancing goals.
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Source : CIA |
Company name & address
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BAODING
TIANPENG IMP. & EXP. GROUP CORP. LTD |
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No.149, Baihua East Rd, Baoding
City, Hebei Province |
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071051 |
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Tel : |
86 312 3026856 |
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Fax: |
86 312 5906775 |
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E-mail: |
-- |
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Website: |
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Currency in this report is
Chinese Yuan unless otherwise stated.
Exchange Rate: 1 USD=6.32
Chinese Yuan
"--"in this report
indicates "unavailable" due to insufficient information or "no
comments"
Notes
1.
Due to the recent intervention of government in the AIC
systems, reports of companies in some regions could be impacted for a certain
period, and for the companies registered in Hebei Province, only the basic
registry information is available. Shareholder and financial information
couldn’t be obtained.
2.
The ordered address (No. 2, Baihua East Road, Baoding
071051, Hebei) is subject’s registered address and previous operation address.
Its current address is as listed in the report.
EXECUTIVE
SUMMARY
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DATE OF establishment |
Dec.7th, 1995 |
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Aic Registration No. |
130600000024810 |
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REGISTERED LEGAL FORM |
limited
liabilities company |
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REGISTERED CAPITAL |
10,000,000 |
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main BUSINESS |
Import and export trading |
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SIC Code (China) |
6300 wholesale industry |
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employees |
120 |
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import and export permits |
yes |
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business scale |
Large |
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operation trend |
Average |
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EXCHANGE RATE |
1 Usd=6.32CNY (may 21st,
2012) |
REGISTRATION
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Name |
BAODING TIANPENG IMP. & EXP. GROUP CORP. LTD |
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AIC Registration Number |
130600000024810 |
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Registered address |
No.2, Baihua East Rd, Baoding City,
Hebei Province |
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Operation address |
No.149, Baihua East Rd, Baoding
City, Hebei Province |
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Date of Establishment |
Dec.7th, 1995 |
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Registry |
Administration Bureau for Industry and
Commerce – Baoding City |
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Legal Representative |
Guo Shutian |
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Registered Legal Form |
limited
liabilities company |
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Registered Capital |
10,000,000 |
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Operating Duration |
Perpetual |
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Business Scope |
Import and export trading of commodities
except the items operated by the national government; wholesale of coal;
transportation agent; sales of hardware, textile, garments, bags and cases,
shoes, cable, wire, electronics, machineries, kitchen items, daily
necessities, stationeries, building materials, foods, non-ferrous metals etc. |
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
SHAREHOLDERS
AND SHARES
N/A
AFFILIATE(S)
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Name |
BAODING TIANPENG IMP. & EXP. GROUP CORP. LTD – Transporation Branch |
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Registration address |
No.2, Baihua East Rd, Baoding City, Hebei
Province |
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Registration No. |
130600300010148 |
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Main business |
Transportation service |
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Name |
BAODING TIANPENG IMP. & EXP. GROUP CORP. LTD –
Livestock/Poultry/Fruit/Vegetable Imp. & Exp. Co. Ltd |
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Registration address |
No.2, Baihua East Rd, Baoding City, Hebei
Province |
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Registration No. |
130600000040513 |
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Main business |
Import and export of Livestock/Poultry/Fruit/Vegetable |
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The
below subsidiaries information is obtained from subject’s website |
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Subsidiary Name |
BAODING TIANPENG BEIFANG FOREIGN
TRADE CO. LTD |
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Subsidiary Name |
BAODING KEHUA IMP. EXP. CO. LTD |
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Subsidiary Name |
BAODING FOODSTUFF TRADING CO. LTD |
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Subsidiary Name |
GLIMMER IMPORT EXPORT LTD (CHILE) |
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Subsidiary Name |
GLIMMER IMPORT EXPORT LTD (HUNGARY) |
MANAGEMENT
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Name |
Guo Shutian |
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Gender |
Male |
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Title |
Legal
Representative |
BANKERS INFORMATION
SC’s bank information can’t be obtained after searching
through all available channels.
OFFICE FACILITIES
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Geographic Location |
No.149, Baihua East Rd, Baoding
City, Hebei Province |
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Area |
2000 square meters |
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Environment and traffic |
Acceptable |
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Property Ownership |
Rented |
TRADEMARKS
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Total trademarks |
4 (only the latest 3 are listed) |
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Registration No. |
3285922 |
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Registration date |
2002-08-26 |
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Image |
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Registration No. |
3286333 |
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Registration date |
2002-08-26 |
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Image |
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Registration No. |
3286334 |
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Registration date |
2002-08-26 |
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Image |
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PATENTS
After checking with the State Intellectual Office, no
patents of SC were found.
MAIN
PRODUCTS & SERVICES
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Main business |
Import and export trading |
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Products and services |
Subject’s product range is wide covering
from textile and garments to machineries, foods etc. It deals with more than
110 different types of products that belong to 17 categories. |
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Certificates |
SGS; BV; DMIC/INTERTEK |
SALES
INFORMATION
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Local sales |
10% |
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Regions |
All over China |
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Major
domestic clients |
BAODING
KEHUA IMP. EXP. CO. LTD |
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Payment terms |
Prompt
payment; on credit |
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Export |
90% |
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Regions |
EU, USA, Japan, Russia, South America, Southeast Asia etc. |
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Major
overseas clients |
Top Speed Auto Accessores Inc;
Schmilne Dba Silkcraft Of Oregon; Excelligence Learning Corporation; Royal
Metals Products Corp. |
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Payment terms |
L/C, T/T |
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As a trading
company, subject’s products are exported to many countries and regions. With
long history, it has accumulated certain customer network. |
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The above
information was confirmed by SC’s employee |
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PURCHASE
INFORMATION
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Main Commodities Purchased |
Textile; garments; frozen vegetables,
chemical materials, minerals etc. |
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Region |
Local: 80% Import: 20% |
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Number of Major Suppliers |
More than 5 |
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Major suppliers |
As
Forwarting Inc |
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Main Terms of Payment |
Local: Prompt
payment; on credit Import: L/C,
T/T |
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Subject’s products are purchased
within and out of China. With long history, it has fixed suppliers. |
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The above information was
confirmed by SC’s employee |
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CREDIT
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Subject’s staff
refused to disclose its supplier name. Hence no payment comment from the
supplier can be provided in this report. |
LITIGATION
RECORDS
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Name of person subject to
enforcement |
BAODING TIANPENG IMP. & EXP.
GROUP CORP. LTD |
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Court |
People’s Court of Xinshi Dist,
Baoding City |
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File date |
Aug.1st, 2007 |
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File No. |
(2007) Bao Xin Fa Zhi Zi 00317 |
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Amount |
52,339.00 CNY |
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Status |
Closed |
FINANCE
N/A
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.12 |
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UK Pound |
1 |
Rs.87.08 |
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Euro |
1 |
Rs.70.15 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.