MIRA
INFORM REPORT
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Report Date : |
05.08.2014 |
IDENTIFICATION DETAILS
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Name : |
Labthink
Instruments CO., LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27.11.1989 |
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Com. Reg. No.: |
370100000012112 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in
development, manufacturing, sales and related technical services of testing
instrument and equipment. |
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No. of Employees : |
100 |
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 : |
Slow but correct |
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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 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 and address
Labthink Instruments CO., LTD.
no. 144 Wuyingshan Road, tianqiao
district, Jinan,
shandong province, 250031 PR CHINA
TEL: 86 (0) 531-85060139/85068566 FAX: 86 (0) 531-85062108
EXECUTIVE SUMMARY
INCORPORATION DATE : nov. 27, 1989
REGISTRATION NO. : 370100000012112
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
100
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
development, MANUFACTURING, TRADING, service
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 6.178 = 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: SC’s correct fax no. should be
the heading one.
SC was registered as a limited liabilities co.
at local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license).
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 development, manufacturing, sales and related technical services
of testing instrument and equipment; development and sales of computer
software; import and export business.
SC is mainly
engaged in development, manufacturing, sales and related technical services of
testing instrument and equipment.
Mr. Jiang Yunzhong is legal representative, chairman and general manager
of SC at present.
SC is known to
have approx. 100 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Jinan. SC’s
employee
refused to release the detailed information of the premise.
http://www.labthink.cn/ The design is professional and the content is
well organized. At present it is in Chinese, English and other versions.
Email: trade.en@labthink.cn
SC has obtained ISO 9001, CE, etc., and awarded as “hi-tech enterprise”,
etc.
No significant changes were found during our checks with the local AIC.
Subject passed the annual inspection of 2012 with
Administration for Industry & Commerce.
Organization Code: 163140788
There is no record of litigation till now.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Jiang Yunping 25
Jiang Yunzhong 75
l
Legal representative, chairman and
general manager:
Mr. Jiang Yunzhong is currently responsible for the overall management
of SC.
Working Experience(s):
At present Working in SC as legal representative,
chairman and general manager.
l
Supervisor:
Jiang Yunping
SC is mainly
engaged in development, manufacturing, sales and related technical services of testing
instrument and equipment.
SC’s products mainly include:
New
Products:
Reference Film for Gas Permeability Test
W3/230 Water Vapor Transmission Rate Test
System
W3/031 Water Vapor Transmission Rate Tester
G2/131 Gas Permeability Tester
G2/110 Separation Membrane Permeability
Analyzer
OR2/411 Organic Gas Permeability Analyzer
ERT-01 Evaporation Residue Constant Weight
Tester
MED-01 Medical Packaging Tester
XLW (EC) Auto Tensile Tester
GHS-03 Gradient Heat Seal Tester
FST-02 Thermal Shrinkage Tester
CHY-CB Thickness Tester
HGA-03 Headspace Gas Analyzer
RGT-01 Vacuum Packaging Analyzer
Best
Sellers:
VAC-VBS Gas Permeability Tester
W3/030 Water Vapor Transmission Rate Tester
OX2/231 Oxygen Permeability Tester
XLW (PC) Auto Tensile Tester
HST-H3 Heat Seal Tester
HTT-L1 Hot Tack Tester
MXD-02 Coefficient of Friction Tester
CHY-C2 Thickness Tester
SLY-S1 Elmendorf Tearing Tester
BMC-B1 Falling Dart Impact Tester
MFY-01 Leak Tester
Classic
Products:
OX2/230 Oxygen Transmission Rate Test System
W3/330 Water Vapor Transmission Rate Test
System
VAC-V1 Gas Permeability Tester
VAC-V2 Gas Permeability Tester
VAC-V3 Gas Permeability Tester
G2/130 Container Gas Permeability Tester
G2/132 Gas Permeability Tester
W3/060 Water Vapor Transmission Rate Test
System
W3/0120 Water Vapor Transmission Rate Tester
W3/130 Water Vapor Transmission Rate Tester
TSY-W3 Electrolytic Detection Method Water
Vapor Permeability Tester
BTY-B2P Gas Permeability Tester
DM2/330 Differential and Equal Pressure
Method Gas Permeability Tester
MGT-01 Mixed Gas Permeability Analyzer
XLW (B) Auto Tensile Tester
SC sources its materials 80% from domestic
market, and 20% from overseas market. SC sells 50% of its products in domestic
market, and 50% to overseas 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, L/C and Credit of 30-60 days.
Note: SC’s management refused to release its
main suppliers.
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TRADEMARKS & PATENTS |
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Registration No. |
7348377 |
7189084 |
8978467 |
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Registration Date |
Dec. 7, 2010 |
Oct. 28, 2010 |
Feb. 28, 2012 |
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Trademark Design |
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Clients: according to SC’s website
===========================
According
to SC’s website:
Labthink
International, Inc.
200
River's
Phone:
(+1) 617-830-2190
FAX:
(+1) 781-219-3638
Email:
info@labthinkinternational.com
Website:
http://www.labthinkinternational.com
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’s management
declined to release its bank details.
SC’s management
declined to release any financial information.
SC is considered medium-sized in its line with 25 years operation history.
Taking into consideration of SC’s 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.61.02 |
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1 |
Rs.102.69 |
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Euro |
1 |
Rs.81.91 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
NIS |
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.