MIRA
INFORM REPORT
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Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
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Name : |
GUANGZHOU ACT CORPORATION |
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Registered Office : |
2/F, Comprehensive Building, No. 32 Tianhe North Street, Guangzhou,
Guangdong Province, 510620 Pr |
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Country : |
China |
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Date of Incorporation : |
10.07.2002 |
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Com. Reg. No.: |
440125000025376 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is
engaged in R & D, manufacturing and selling of sports & leisure
products. |
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No. of Employees : |
200 |
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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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
Guangzhou Act Corporation
2/F, Comprehensive
building, no. 32 tianhe north street, guangzhou, Guangdong PROVINCE, 510620 PR
CHINA
TEL: 86 (0)
20-62327666 FAX: 86 (0) 20-62326155
EXECUTIVE SUMMARY
INCORPORATION DATE : jul. 10, 2002
REGISTRATION NO. : 440125000025376
REGISTERED LEGAL FORM : LIMITED
LIABILITIES CO.
CHIEF EXECUTIVE : mr. lei aixin (CHAIRMAN)
STAFF
STRENGTH : 200
REGISTERED
CAPITAL :
cny 35,070,580
BUSINESS LINE : R & d,
Manufacturing, SELLING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : moderate amount
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.14 = USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
Note: The “Room J, 9/F, Chengjian Mansion, No. 189 Tiyuxi Road, Guangzhou” was SC’s former address, while its present address should be the heading one.
According to SC’s website, SC is also known as Guangzhou ACT Industrial Co., Ltd.
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 Jul. 10, 2002.
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 R & D, designing, manufacturing, selling, installation: sports field, museum and public spaces of the ground material, artificial turf, artificial grass fibers, equipment, instruments, chairs, stands, lamps, rubber, plastics, metal products and indoor and outdoor recreation, home, industrial plastic injection products, environmental protection machinery and equipment. Operation of the self-made products and related technology export business, import business of the production, scientific research required for self-need raw materials, machinery and equipment, instruments, spare parts and related technology, excluding those limited and prohibited by the State. Engaged in all kinds of trade. Wholesale, retail trade (excluding the state monopoly controlled goods).
SC is mainly engaged in R & D, manufacturing and selling of sports & leisure products.
Mr. Lei Aixin is legal representative and chairman of SC at present.
SC is known to have approx. 200 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office in the commercial zone of Guangzhou. Detailed information of the premise is unspecified.
SC’s factory is located in No. 168 Xindun Rd. Zhongxin Town, Zengcheng, Guangzhou
http://www.actcorp.cn/ The design
is professional and the content is well organized. At present it is in both Chinese
and English versions.
E-mail: info@actcorp.cn
Changes of its
registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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Unspecified |
Registration No. |
4401252002156 |
Present one |
Tax Registration Certificate No.: 440183737190080
Organization Code: 737190080
Honors
======
See below for SC as executive party (defendant).
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Executed
Party |
SC |
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Court |
Zengcheng Municipal People's Court |
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Date of Case |
2011-12-21 |
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Case
Number |
(2012) 00041 |
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Claim Amount |
RMB 27,512.64 |
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Case Status |
In process |
Remark: Due to the lack of information, we are
unable to provide the cause of action, judgment or other information.
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Lei Aixin 38.55
Guangzhou Baiyi Investment
Management Co., Ltd. (literal translation) 37.5
Zhongshan Zhongke Venture
Capital Co., Ltd. (literal translation) 5.46
Shenzhen Capital Group Co., Ltd. 5
Guangzhou Hiway Growth Venture Capital Centre (Limited Partnership) 3
Nan’an Jialili Venture Capital
Co., Ltd. (literal translation) 1
Qing Li 2.28
Guo Weixin 0.97
Sun Gengliang 0.43
Jiang Qi 1.14
Wang Xuehui 0.68
Yang Haiquan 0.23
Han Pengfei 1.14
Lei Ping 1.65
Song Ya 0.74
Zhang Dawei 0.23
Guangzhou Baiyi Investment
Management Co., Ltd. (literal translation)
======================
Registration No.:
440101000050204
Incorporation Date: 1997-08-13
Chairman: Lei Aixin
Registered Capital: CNY
12,000,000
Zhongshan Zhongke Venture
Capital Co., Ltd. (literal translation)
======================
Registration No.: 442000000382568
Chairman: Xie Yong
Registered Capital: CNY 700,000,000
Shenzhen Capital Group Co., Ltd.
=======================
Registration No.: 440301103269709
Incorporation Date: 1999-8-25
Chairman: Jin Haitao
Registered Capital: CNY 3,501,874,600
Tel.: 0755-82912888
Fax: 0755-82912880
Legal
Representative and Chairman:
Mr. Lei Aixin is currently responsible for the overall
management of SC.
Working
Experience(s):
At present Working in SC as legal
representative and chairman.
Also working in Guangzhou Baiyi Investment
Management Co., Ltd. (literal translation) as legal
representative, and in Guangzhou Act
Corporation Tianhe Branch as principal.
Supervisor:
Yang Haiquan
SC is mainly
engaged in R & D, manufacturing and selling of sports & leisure
products.
SC’s products mainly include: synthetic turf, stadium seats, sport
equipment, etc.
SC sources its materials 90% from domestic
market, and 10% from overseas market. 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.
Note:
SC’s management declined to release its major clients and suppliers.
Cooperative Partners (According to SC’s website)
==================================
Branch:
Guangzhou Act Corporation Tianhe Branch
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Registration No.:
440106000509530
Principal: Lei Aixin
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 declined to
release its bank details.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line 11 years
development history. Due to lack of financial status, we are unable to recommend accurate
credit limit for SC. Taking into consideration of
SC’s market conditions and development history, we would rate SC as an average
credit risk company. Credit up to moderate amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.63 |
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UK Pound |
1 |
Rs.83.67 |
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Euro |
1 |
Rs.71.02 |
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.