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Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
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Name : |
shenzhen chaofu trading Co., Ltd. |
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Registered Office : |
rm. 2001, Huangcheng
Square Building, Huanggang Port, Futian District, Shenzhen, Guangdong
Province, 518000 PR |
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Country : |
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Date of Incorporation : |
10.02.2010 |
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Com. Reg. No.: |
440301104514189 |
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Legal Form : |
Limited
Liabilities Company |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employees |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 |
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
|
Source
: CIA |
Company name and address
shenzhen chaofu
trading Co., Ltd.
rm. 2001, huangcheng
square building, huanggang port,
FUTIAN DISTRICT,
SHENZHEN, GUANGDONG PROVINCE, 518000 PR CHINA (REGISTERED ADDRESS)
TEL: N/A FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : Feb. 10, 2010
REGISTRATION NO. : 440301104514189
REGISTERED LEGAL FORM
: LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE : wu mingquan (CHAIRMAN)
STAFF STRENGTH : N/A
REGISTERED CAPITAL :
CNY 500,000
BUSINESS LINE : TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : NOT YET
DETERMINED
MARKET CONDITION : N/A
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
N/A
GENERAL REPUTATION : NOT YET DETERMINED
EXCHANGE RATE : CNY 6.16 = 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: Failing to contact SC, we can’t confirm the.
SC was registered as a Limited Liabilities Company at Shenzhen Municipal Administration for industry & commerce (AIC - the official body of issuing and renewing business license) on Feb. 10, 2010.
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 domestic trading (with permit if needed); economic information consulting (excluding securities, insurance, funds, financial services, human resources intermediary services and other restricted items); import and export business (items which are prohibited by law and restricted under government regulation are exceptional. Special permit is required prior to execution for restricted item).
Wu Mingquan has been registered as legal representative, chairman and general manager of SC since 2013.
It is not possible to contact the company directly to obtain further information. The nature and extent of the company's operations could not be determined and it could not be confirmed whether the company operates from the Registered Office address or in another location.
SC is not known to host website of its own at present.
Changes of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2012-1-17 |
Legal representative |
Chen Shifeng |
Liang Guanghua |
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Shareholders |
Liu Mingjia 40% Chen Shifeng 60% |
Liang Guanghua 60% |
|
|
2012-6-6 |
Registered capital |
CNY 50,000 |
Present amount |
|
Shareholders |
Liang Guanghua
60% |
Liao Zheng 4% Liang Guanghua 96% |
|
|
2013-2-28 |
Legal representative |
Liang Guanghua |
Present one |
|
Shareholders |
Liao Zheng 4% Liang Guanghua 96% |
Present ones |
Subject passed the annual inspection of 2012 with Administration for Industry & Commerce.
Organization code: 550346241
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wu Mingquan 96
Lu Shuyu 4
Legal representative, Chairman & General manager:
Wu Mingquan
Supervisor:
Lu Shuyu
From internet, we found the tel. number 86-755-21366808 and mobile phone no. 13544238552, but they do not exist at present.
Exhausting our efforts, we are unable to find SC’s telephone number in various information sources, including the internet, yellow pages and telecom companies.
We are unable to contact SC. Therefore, the nature and extent of SC’s operations could not be determined.
SC is not known to have any subsidiary at present.
Overall payment appraisal :
( ) Excellent ( ) Good ( ) Average ( ) Fair ( ) Poor (X) 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 : N/A
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.
The bank information of SC is not available.
Failing to contact SC, SC’s financial information is not available.
Despite having exhausted all our effort, we are unable to contact
SC. If further contact details of SC
can be provided, we will definitely continue this research.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
|
1 |
Rs.103.54 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
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 |
|
|
<10 |
C |
Absolute credit
risk exists. Caution needed to be exercised |
Credit not recommended |
|
|
-- |
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.