MIRA
INFORM REPORT
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Report Date : |
04.12.2013 |
IDENTIFICATION DETAILS
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Name : |
HANGZHOU LINAN YUANYANG CABLE CO., LTD. |
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Registered Office : |
Qingshan Industrial Area, Linan, Hangzhou, Zhejiang Province 311300 Pr
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Country : |
China |
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Date of Incorporation : |
17.01.2005 |
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Com. Reg. No.: |
330185000027741 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
manufacturing and selling of Coaxial Cable, Aluminum
Foil, Aluminum Magnesium Alloy Wire and Plastic Particles |
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No. of Employees : |
78 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
TATUS |
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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 2012 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 under 8% for 2012. An economic slowdown in Europe
contributed to China's, and is expected to further drag Chinese growth in 2013.
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
HANGZHOU LINAN YUANYANG CABLE CO., LTD.
qingshan industrial area
linan, hangzhou, zhejiang province 311300 PR
CHINA
TEL: 86 (0) 571-63960758 / 63966758 / 63757854
FAX: 86 (0) 571-63757854
EXECUTIVE SUMMARY
Date of Registration : january 17, 2005
REGISTRATION NO. : 330185000027741
LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE : xie fei (LEGAL
REPRESENTATIVE)
REGISTERED CAPITAL :
cny 1,000,000
staff : 78
BUSINESS CATEGORY :
manufacturing & trading
Revenue : N/A (AS OF DEC. 31, 2012)
EQUITIES : N/A (AS OF DEC. 31, 2012)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : Unknown
MARKET CONDITION : average
FINANCIAL CONDITION : n/a
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION : average
EXCHANGE RATE : CNY 6.10 = 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
LEGAL STATUS & HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 330185000027741 on January 17,
2005.
SC’s Organization Code Certificate
No.: 77080485-7
SC’s Tax No.: 330124770804857
SC’s registered capital: cny 1,000,000
SC’s paid-in capital: cny 1,000,000
Registration Change Record:-
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives
are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
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Xie Fei |
40 |
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Pang Yan |
30 |
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Pang Xianhu |
30 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman
and General Manager |
Xie Fei |
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Director/Supervisor |
Pang Yan |
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Pang Xianhu |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name
%
of Shareholding
Xie Fei 40
Pang Yan 30
Pang Xianhu 30
MANAGEMENT
Xie Fei Legal
Representative, Chairman and General Manager
------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Director/Supervisor
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Pang Yan
Pang Xianhu
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and
selling cable, aluminum foil, aluminum magnesium alloy wire, and plastic particles;
importing and exporting commodities.
SC is
mainly engaged in manufacturing and selling cable.
SC’s
products mainly include: Coaxial cable.
Brands: "Fengshou"
"Lianyang" "Sanshan".
SC sources its materials 100% from domestic market.
SC sells 10% of its products in domestic market, and 90% 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.
Staff & Office:
--------------------------
SC is
known to have approx. 78 staff
at present.
SC rents an area
as its operating office and factory, but the detailed information is unknown.
RELATED COMPANY
SC
is not known to have any subsidiary at present.
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
The bank
information of SC is not filed in local SAIC.
FINANCIALS
SC’s financials are not filed in local SAIC, and SC also refused to make
any comments.
CONCLUSIONS
SC is considered small-sized in its line with 8 years
business history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
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UK Pound |
1 |
Rs.102.06 |
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Euro |
1 |
Rs.84.46 |
INFORMATION DETAILS
|
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.