MIRA
INFORM REPORT
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Report Date : |
01.08.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
22.10.2008 |
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Com. Reg. No.: |
500112000044666 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
Importing and exporting commodities; and selling machinery, auto
components, air purifying material, glass fiber products, purify equipment,
and building materials. |
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No. of Employees : |
20 |
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 : |
No Complaints |
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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 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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, growth of the
private sector, development of stock markets and a modern banking system, 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 considered important to "economic
security," explicitly looking to foster globally competitive industries.
After keeping its currency tightly linked to the US dollar for years, in July
2005 China 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 and
expanded the daily trading band within which the RMB is permitted to fluctuate.
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 2013 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
consumption; (b) facilitating higher-wage job opportunities for the aspiring
middle class, including rural migrants and increasing numbers of college
graduates; (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. Several factors are
converging to slow China's growth, including debt overhang from its
credit-fueled stimulus program, industrial overcapacity, inefficient allocation
of capital by state-owned banks, and the slow recovery of China's trading
partners. The government's 12th Five-Year Plan, adopted in March 2011 and
reiterated at the Communist Party's "Third Plenum" meeting in
November 2013, emphasizes continued economic reforms and the need to increase
domestic consumption in order to make the economy less dependent in the future
on fixed investments, exports, and heavy industry. However, China has made only
marginal progress toward these rebalancing goals. The new government of
President XI Jinping has signaled a greater willingness to undertake reforms
that focus on China's long-term economic health, including giving the market a
more decisive role in allocating resources.
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Source
: CIA |
Company name & address
CHONGQING
ZAISHENG'S EXPORT AND IMPORT CO., LTD.
NO. 9 AIRPORT
EAST ROAD, AIRPORT INDUSTRIAL ZONE
YUBEI DISTRICT,
CHONGQING 401120 PR CHINA
TEL: 86 (0)
23-67176290
FAX: 86 (0)
23-67176291
EXECUTIVE SUMMARY
Date of Registration : October 22, 2008
REGISTRATION NO. : 500112000044666
LEGAL FORM : ONE-PERSON Limited liabilities company
CHIEF EXECUTIVE :
guo mao (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny
100,000
staff :
20
BUSINESS CATEGORY : trading
Revenue :
N/A (AS
OF DEC. 31, 2013)
EQUITIES :
CNY 10,245,000 (AS OF DEC. 31, 2013)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.20 = 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 on October 22, 2008. However, SC changed to
present legal form, and was registered as one-person limited liabilities
company e of PRC with State Administration for Industry & Commerce (SAIC)
under registration No.: 500112000044666 on November 30, 2010.
SC’s Organization Code Certificate No.:
68145541-3
SC’s registered capital: cny 100,000
SC’s paid-in capital: cny 100,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
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2010-11-30 |
Legal Form |
Limited Liabilities Company |
One-Person Limited Liabilities Company |
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Shareholder (s) (% of Shareholding) |
Guo Mao 郭茂 96% Guo Yan 郭彦 4% |
Chongqing Zaisheng Technology Development
Co., Ltd. 重庆再生科技发展有限公司 |
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2014 |
The Name of SC’s Shareholder |
Chongqing Zaisheng Technology Development
Co., Ltd. 重庆再生科技发展有限公司 |
Chongqing Zaisheng Technology Co., Ltd. 重庆再升科技股份有限公司 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Chongqing Zaisheng Technology Co., Ltd. |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman and General Manager |
Guo Mao |
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Supervisor |
Guo Yan |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Chongqing Zaisheng Technology Co., Ltd. 100
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Registration No.: 500112000016316
Date of Registration: June 28, 2007
Legal Form: Shares Limited Company
Registered Capital: CNY 51,000,000
Legal Representative: Guo Mao 郭茂
Web: www.cqzskj.com
MANAGEMENT
Guo Mao, Legal Representative, Chairman and General
Manager
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Gender: M
Age: 44
Working experience (s):
At present, working in SC as legal representative, chairman and general
manager
Also working in Chongqing Zaisheng Technology Co., Ltd. and Chongqing
Zaisheng Purify Equipment Co., Ltd. as legal representative
Guo Yan, Supervisor
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Gender: F
Age: 47
BUSINESS
OPERATION
SC’s registered business scope includes importing and
exporting commodities; and selling machinery, auto components, air purifying
material, glass fiber products, purify equipment, and building materials.
SC is mainly engaged in international trade.
SC’s products mainly include: Micro fiber glass cotton products, etc.
SC sources its products 100% from domestic market. SC sells 100% of its
products 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:
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SC is known to have approx. 20
staff at present.
SC rents an area as its operating office, 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
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2013 |
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Total assets |
21,303 |
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Total liabilities |
11,058 |
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Equities |
10,245 |
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Profits |
3,776 |
Important Ratios
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As
of Dec. 31, 2013 |
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*Liabilities to assets |
0.52 |
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*Return on total assets (%) |
17.73 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
SC’s return on total assets is average.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is above average.
Overall financial condition
of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with fairly stable financial
conditions. Taking into consideration of SC’s good background.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.25 |
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1 |
Rs.101.92 |
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Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
TPT |
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.