MIRA
INFORM REPORT
|
Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI HOME
EXPO CO., LTD. |
|
|
|
|
Registered Office : |
No. 1263-1269
Wuzhong Road, Minhang District Shanghai 201103 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
08.10.1998 |
|
|
|
|
Com. Reg. No.: |
310112000191498 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing and selling household products. |
|
|
|
|
No. of Employees : |
400 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source : CIA |
Company name and address
SHANGHAI HOME
EXPO CO., LTD.
NO. 1263-1269
WUZHONG ROAD, MINHANG DISTRICT SHANGHAI 201103 PR CHINA
TEL: 86 (0)
21-64056890
FAX: 86 (0)
21-64062759
EXECUTIVE SUMMARY
Date of Registration : OCTOBER 8, 1998
REGISTRATION NO. : 310112000191498
LEGAL FORM : Limited Liability Company
CHIEF EXECUTIVE :
ZONG
MING (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 50,000,000
staff : 400
BUSINESS CATEGORY : MANUFACTURING
Revenue :
N/A (AS OF DEC. 31, 2012)
EQUITIES :
N/A (AS OF DEC. 31, 2012)
WEBSITE : www.shanghaihomeexpo.com
E-MAIL :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.21 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL
STATUS & HISTORY
SC was established as a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 310112000191498 on October 8, 1998.
SC’s Organization Code Certificate No.:
63125448-8
SC’s Tax No.: 310112631254488
SC’s registered capital: CNY 50,000,000
SC’s paid-in capital: CNY 50,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2001-11-21 |
Registered Capital |
CNY 1,000,000 |
CNY 5,000,000 |
|
Shareholder (s) (% of Shareholding) |
Tang Ying 80% Gao Youshan 20% |
Tang Ying 96% Gao Youshan 4% |
|
|
2004-2-11 |
Shareholder (s) (% of Shareholding) |
Tang Ying 96% Gao Youshan 4% |
Zong Ming 90% Shan Qi 10% |
|
2006-8-18 |
Registered Capital |
CNY 5,000,000 |
CNY 30,000,000 |
|
Shareholder (s) (% of Shareholding) |
Zong Ming 90% Shan Qi 10% |
Zong Ming 15.00% Shan Qi 1.67% Shanghai Yequan Technology Development Co., Ltd. 83.33% |
|
|
2006-10-24 |
Registered capital |
CNY 30,000,000 |
CNY 50,000,000 |
|
|
Shareholder (s) (% of Shareholding) |
Zong Ming.00% Shan Qi 1.67% Shanghai Yequan Technology Development Co., Ltd. 83.33% |
Zong Ming 9% Shan Qi 1% Shanghai Yequan Technology Development Co., Ltd. 90% |
|
-- |
Company Name |
Shanghai Jiandaoshitoubu Decorative Cloth Products Co., Ltd. |
Shanghai Home Expo Co., Ltd. |
|
Legal Representative |
Tang Ying |
Zong Ming |
|
|
Registration No. |
3101122080722 |
310112000191498 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Shanghai Yequan Technology Development Co., Ltd. |
90 |
|
Zong Ming |
9 |
|
Shan Qi |
1 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Zong Ming |
|
Supervisor |
Shan Qi |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Shanghai Yequan Technology Development Co., Ltd. 90
Zong Ming 9
Shan Qi 1
Shanghai Yequan Technology Development Co., Ltd.
----------------------------------------------
Date of Registration: March 12, 1997
Registration No.: 310117001818931
Legal Form: Limited Liability
Company
Chief Executive: Zong Ming
Registered Capital: CNY 1,000,000
MANAGEMENT
Zong Ming, Legal Representative, Chairman and General
Manager
------------------------------------------------------------------------------------------------
Gender: M
Age: 51
ID# 330625196210230159
Qualification: University
Working experience (s):
At present, working in SC as legal representative, chairman and general
manager
Also working in Shanghai Yequan Technology Development Co., Ltd. as
legal representative
Shan Qi,
Supervisor
-----------------------------------
Gender: F
BUSINESS
OPERATION
SC’s registered business scope includes manufacturing, and selling fabric
products, all kinds of furniture, lamps, and after-sales service, selling
textiles, decoration materials, general merchandise business, arts and crafts,
electronics audio products, textiles computer stenciling design, interior
design, furniture design, business consulting services (except brokerage),
selling pre-packaged foods(excluding cooked food, including frozen food),
import& export of various goods and technologies, but excluding items
limited or prohibited by country (with permit if needed).
According to SC’s employee, it is mainly engaged in manufacturing and
selling household products.
SC’s products mainly include: curtain, sofa, furniture, bedding etc.
SC sources its materials 40% from domestic market and 60% from the overseas market, mainly Europe. SC sells 100% of its products in domestic 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 and Credit of 30-60 days.
Staff &
Office:
--------------------------
SC is known to have approx. 400
staff at present.
SC owns an area as its operating office and factory, but the detailed
information is unknown.
RELATED
COMPANY
SC is known to
have a subsidiary and a branch at present,
Shanghai Hedun Industry & Trade Co., Ltd.
------------------------------
Date of Registration: February 5, 2002
Registration No.: 310118002042654
Legal Form: Limited Liability
Company
Chief Executive: Zong Ming
Registered Capital: CNY 30,000,000
Shanghai Home Expo Co., Ltd. Pudong Branch
-------------------------------------------------------------
Date of Registration: June 7, 2011
Registration No.: 310115001834291
Legal Form: Branch
Chief Executive: Zong Ming
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
Basic Bank:
Bank of Shanghai Hongqiao Road Sub-branch
AC#: 31585900001007933
FINANCIALS
The financials of SC is not available in
local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered medium-sized in its line with a development history of
15 years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.