MIRA INFORM REPORT
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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
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Name : |
Qingdao Haitong
Graphite Co., Ltd. |
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Registered Office : |
Room 504,
Unit 1, Building 13, Beicun Xinyuan, No. 857 Hefei Road, Laoshan District, Qingdao,
Shandong Province 266000 Pr |
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Country : |
China |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
15.09.2012 |
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Com. Reg. No.: |
370212230054096 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Wholesaling and retailing of graphite, household electric
appliance, electronics, grocery, machinery & components, and knitting
goods & textiles; importing and exporting commodities and technology. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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
|
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.
Source
: CIA
Company Name and Address
Qingdao Haitong Graphite Co., Ltd.
Room 504, Unit 1,
Building 13, Beicun Xinyuan, no. 857 hefei road
laoshan district,
qingdao, shandong province 266000 PR CHINA
TEL: 86 (0)
532-88890573/13225426623
FAX: 86 (0)
532-88890573
***Note: SC’s registered
address is Room 801, Unit 2, Building 1 Yulong Mansion, No. 19 Miaoling Road,
Laoshan District, Qingdao, Shandong Province.
EXECUTIVE SUMMARY
Date of Registration : september 15, 2012
REGISTRATION NO. : 370212230054096
LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE : Zhang Pengcheng (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
cny 500,000
staff : 5
BUSINESS CATEGORY :
trading
REVENUE :
CNY 0 (JAN. 1 2013 TO JUN. 30, 2013)
EQUITIES :
CNY 474,000 (AS OF JUN. 30, 2013)
WEBSITE : N/A
E-MAIL : N/A
PAYMENT : not yet be determined
MARKET CONDITION : CURRENTLY REMAINS TO BE OBSERVED
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND :
not yet be determined
GENERAL REPUTATION : fair
EXCHANGE RATE : CNY 6.12 = 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.: 370212230054096 on September
15, 2012.
SC’s Organization Code Certificate
No.: 05306301-3
SC’s Tax No.: 370212053063013
SC’s registered capital: cny 500,000
SC’s paid-in capital: cny 500,000
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 |
|
Zhang Pengcheng and other
individual |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Zhang
Pengcheng |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name % of
Shareholding
Zhang Pengcheng and other
individual 100
MANAGEMENT
Zhang
Pengcheng, Legal
Representative, Chairman and General Manager
------------------------------------------------------------------------------------------------------------
Ř
Gender: M
Ř Qualification:
University
Ř Working experience
(s):
At present, working in SC as legal
representative, chairman and general manager
BUSINESS OPERATION
SC’s registered business scope includes wholesaling and
retailing graphite, household electric appliance, electronics, grocery,
machinery & components, and knitting goods & textiles; importing and
exporting commodities and technology.
SC has not started
its normal operation yet.
Staff & Office:
--------------------------
SC is
known to have approx. 5 staff at present.
SC
rents an area as its operating office, but the detailed information is unknown.
RELATED COMPANY
Haitong Group Limited
(Hong Kong)
---------------------------------------------
Registration No.: 1496281
Date of Registration: August 23, 2010
Legal Form: Private
Status: Live
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good ( ) Average ( ) Fair ( ) Poor (X) 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: Not available.
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 China
Shinan 2nd Sub-branch
AC#:
226016338340
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2012 |
As
of Jun. 30, 2013 |
|
94 |
82 |
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Notes receivable |
0 |
0 |
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Accounts
receivable |
0 |
0 |
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Advances to
suppliers |
0 |
0 |
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Other receivable |
395 |
392 |
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Inventory |
0 |
0 |
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Non-current
assets within one year |
0 |
0 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
489 |
474 |
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Fixed assets |
0 |
0 |
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Long-term
prepaid expenses |
0 |
0 |
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Deferred income
tax assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
489 |
474 |
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============= |
============= |
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Short-term loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
0 |
0 |
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Advances from
clients |
0 |
0 |
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Other payable |
0 |
0 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
0 |
0 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
0 |
0 |
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Equities |
489 |
474 |
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------------------ |
------------------ |
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Total
liabilities & equities |
489 |
474 |
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============= |
============= |
Income Statement
|
Unit: CNY’000 |
As
of Dec. 31, 2012 |
Jan.
1 2013 to Jun. 30, 2013 |
|
Revenue |
0 |
0 |
|
Cost of sales |
0 |
0 |
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Sales expense |
0 |
0 |
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Management expense |
11 |
15 |
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Finance expense |
0 |
0 |
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Profit before
tax |
-11 |
-15 |
|
Less: profit tax |
0 |
0 |
|
-11 |
-15 |
Overall financial
condition of the SC: Fair.
CONCLUSIONS
Established in 2012, SC has not started its normal operation yet.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
|
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
-- |
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.