MIRA
INFORM REPORT
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Report Date : |
28.08.2014 |
IDENTIFICATION DETAILS
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Name : |
ANHUI JUXING STEEL INDUSTRY CO., LTD. |
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Registered Office : |
No. 4 Yongqiang Road, Ecology Industrial Park, Jixi County, Xuancheng
City, Anhui Province 245300 Pr |
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Country : |
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Date of Incorporation : |
07.11.2007 |
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Com. Reg. No.: |
342531000004781 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing, processing and selling stainless steel pipes, stainless
steel welded pipes, stainless steel wire, stainless steel machinery and
equipment, valves, flanges, pipe fittings, round steel, tube billet, steel
ingots and steel plate (with permit if needed); import and export of goods
and technology (excluding the goods and technology prohibited or limited by
the country). |
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No of Employees : |
Not Available |
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 – June 01, 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 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 & address
ANHUI JUXING STEEL INDUSTRY CO., LTD.
NO. 4 YONGQIANG ROAD, ECOLOGY INDUSTRIAL PARK,
JIXI COUNTY, XUANCHENG CITY, ANHUI PROVINCE 245300 PR CHINA
TEL: 86 (0) 563-8156718/ 8156911
FAX: 86 (0) 563-8156911
EXECUTIVE SUMMARY
INCORPORATION DATE : nov. 7, 2007
REGISTRATION NO. : 342531000004781
REGISTERED LEGAL FORM : LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE : Wang Caixiang (CHAIRMAN)
STAFF STRENGTH : N/A
REGISTERED CAPITAL : CNY 8,080,000
BUSINESS LINE :
manufacturing & tRADING
TURNOVER : N/A
EQUITIES N/A
PAYMENT : AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.15= 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 Ren Min Bi
Note: SC’s complete address should be the heading one.
SC was registered as a limited liabilities company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Nov. 7, 2007.
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 manufacturing, processing and
selling stainless steel pipes, stainless steel welded pipes, stainless steel
wire, stainless steel machinery and equipment, valves, flanges, pipe fittings,
round steel, tube billet, steel ingots and steel plate (with permit if needed);
import and export of goods and technology (excluding the goods and technology
prohibited or limited by the country).
SC is mainly engaged in manufacturing and selling various kinds of steel
pipe.
Wang Caixiang has been the legal representative and chairman of SC since
July of 2014.
SC’s management declined to disclose its staff strength.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the Ecology Industrial Park of Jixi
County. SC’s management declined to release the detailed information of the
premise.
http://www.juxinggy.com/
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
E-mail: yexiaojun@juxinggy.com
wangmichael.82@gmail.com
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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Legal representative |
Li Zhenqiao |
Present one |
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Shareholders |
Li Zengwang 90% Wang Caixiang 10% |
Present ones |
SC has obtained ISO9001:2008 certificate.
Organization Code: 667933917
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wang Caixiang 10
Li Zhong’en 90
Legal
representative and Chairman:
Wang Caixiang is currently responsible for the overall management of SC.
Working Experience(s):
From 2014 to present Working
in SC as legal representative and chairman
General
Manager:
Ni Shiyi is currently responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as general manager
Supervisor:
…………..
Li Zhong’en
SC is mainly engaged in manufacturing and selling various kinds of steel
pipe.
SC’s products mainly include: Titanium Pipe, Round bar, Pipe for
shipbuilding, Pipe for Boiler, etc.
Trademarks &
patens
Registration no.: 7130106
Registration date:
Trademark design: 
SC sources its materials and products 95% from domestic market and 5%
from overseas market. SC sells 20% of its products to the overseas market, and
80% 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, L/C and Credit of 30-60 days.
Note: SC’s
management declined to release its major clients and suppliers.
SC is not known to have any subsidiary at present.
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 banking information.
SC’s management declined to release any financial information.
SC was established in 2007, taking into consideration of SC’s general
performance, reputation as well as market conditions we would rate SC as an
above average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.47 |
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1 |
Rs.100.15 |
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Euro |
1 |
Rs.79.65 |
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.