MIRA
INFORM REPORT
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Report Date : |
17.11.2012 |
IDENTIFICATION DETAILS
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Name : |
CHANGZHOU ANYTE
KABLE CO., LTD. |
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Registered Office : |
Room 325, Yutian Building, No. 2, Fudong Road, Wujin District,
Changzhou, Jiangsu Province, 213100 PR |
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Country : |
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Date of Incorporation : |
04.07.2011 |
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Com. Reg. No.: |
320483000311134 |
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Legal Form : |
Limited Liabilities Co |
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Line of Business : |
Engaged in manufacturing and selling wire and cable |
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No. of Employees : |
70 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – 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 and address
CHANGZHOU ANYTE KABLE CO., LTD.
Room 325,
Yutian Building, No. 2, Fudong Road, Wujin District, Changzhou, Jiangsu
Province, 213100 PR CHINA
TEL: 86 (0) 519-81099156/88053518
FAX: 86 (0)
519-83739815
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 4, 2011
REGISTRATION NO. :
320483000311134
REGISTERED LEGAL FORM :
LIMITED LIABILITIES CO.
STAFF STRENGTH : 70
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE :
MANUFACTURING AND TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.234=USD
Adopted
abbreviations:
ANS -
amount not stated
NS -
not stated
SC -
subject company (the company inquired by you)
NA - not available
CNY – China Yuan Ren Min Bi
Note: SC’s complete 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 July 4, 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 general business scope: manufacturing and selling
wire and cable, hardware; importing and exporting goods and technologies,
excluding the items limited or prohibited by the state.
SC is mainly engaged in manufacturing and selling wire and cable.
Ms. Hu Hu has been legal representative, chairman and general
manager of SC since 2011.
SC is
known to have approx. 70 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office in the commercial zone of Changzhou. SC’s management declined to release detailed information of the premise.
SC’s factory is located in Dong’An Industrial Zone, Huangli Town, Wujin District, Changzhou, Jiangsu Province
http://www.anycable.com.cn The design is
professional and the content is well organized. At present it is in Chinese and
English versions.
E-mail: anycable@anycable.com.cn
SC was taken into operation in December of 2011.
SC has got the ISO 9002 international system certification,
ISO 14001 environment system certification, CCC/CE/TUV/UL/CSA/SAA certification
and so on.
MAIN SHAREHOLDERS:
Name %
of shareholdings
Hu Hu
ID# 310105197911222029 80
Huang Haisheng
ID# 620105197508091033 20
l
Legal Representative, Chairman and
General Manager:
Ms. Hu Hu, ID# 310105197911222029, born in 1979.
She is currently responsible for the overall management of SC.
Working Experience(s):
From 2011 to present Working in SC as legal representative,
chairman and general manager.
l
Supervisor:
Huang Haisheng ID#
620105197508091033
SC is mainly engaged in manufacturing and selling wire and cable.
SC’s
products mainly include:
*flexible
cable
flexible
control cables
flexible
track cables
servo
motor cables
halogen-free
cables
flexible
power cables
flexible
rubber cables
low-temperature
flexible cables
high-temperature
flexible cables
*data
communication cable
bus
cable
data
communication system cable
LSZH
data communication cable
LAN
cable
monitor
audio and video transmission cable
*cables
according to international approvals
ANYCERT-UL/CSA
standard wire and cables
ANYTECERT-CE/TUV/VDE
standard cables
ANYTECERT-SAA
standard cables
ANYTECERT-BS
standard cables
ANYTECERT-CCC
standard cables
*dedicated
series cable
ANYAPPS-container
house cable
ANYAPPS-elevator
cable
ANYAPPS-car
cable
ANYAPPS-fixed
installation cable
ANYAPPS-irrigation
cable
ANYAPPS-machine
tool wire
SC was
taken into operation in December of 2011.
SC
sources its materials 100% from domestic market. SC sells 99% of its products
in domestic market, and 1% to overseas market.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
Note: SC’s management declined
to release its main clients and suppliers.
SC is not known to have any subsidiary at present.
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 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.
SC’s management declined to release its bank information.
SC’s management declined to release any financial
information.
SC is considered small-sized in its line with a short
operating history. Taking into consideration of SC’s operating size as well as
market conditions we would rate SC as an above average credit risk company.
Credit dealings with SC should be confined into small amount at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.99 |
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1 |
Rs.87.21 |
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Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
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Report Prepared
by : |
PDT |
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.