MIRA
INFORM REPORT
|
Report Date : |
31.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
HIGH HOPE ZHONGDING CORPORATION |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
15.10.1981 |
|
|
|
|
Com. Reg. No.: |
320000000000640 |
|
|
|
|
Legal Form : |
Shares Limited Co |
|
|
|
|
Line of Business : |
Mainly Engaged in International Trade, Investment Management
of Its Subsidiaries |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
Source
: CIA |
COMPANY NAME & ADDRESS
HIGH HOPE ZHONGDING CORPORATION
NO. 100 JIANYE ROAD, NANJING CITY,
JIANGSU PROVINCE, 210004 PR CHINA
TEL: 86
(0) 25-84468888
FAX: 86 (0) 25-84208398
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 15, 1981
REGISTRATION NO. :
320000000000640
REGISTERED LEGAL FORM : SHARES LIMITED CO.
CHIEF EXECUTIVE :
MR. WAN HUIZHONG (LEGAL REPRESENTATIVE)
STAFF STRENGTH : N/A
REGISTERED CAPITAL : CNY
278,592,600
BUSINESS LINE :
TRADE & INVESTMEnT
TURNOVER :
CNY 3,913,350,000 (JAN. 1~ JUN.
30, 2013)
EQUITIES :
CNY 985,270,000 (AS OF JUN. 30, 2013)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION : FAIRLY
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : WELL-KNOWN
EXCHANGE RATE :
CNY 6.1545=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
SC was registered as a shares
limited co. at Jiangsu Provincial Administration for Industry &
Commerce (AIC-The official body of issuing and renewing business license).
Company Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The co has independent
property of legal person and enjoys property rights of legal person. The
characteristics of the shares limited co. are as follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be
domiciled in The minimum registered capital
of a co. is CNY The board of directors must
consist of five to nineteen directors. If the co. raises capital by
public offer, the promoters must not subscribe less than 35% of the total
shares. the promoters’ shares are restricted to transfer- within one year
of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered business scope includes wholesaling dangerous chemicals
(with permit if needed), wholesaling coal, security investment and industry investment,
self-management and agent all kinds of goods and technology import and export
business, domestic trading, HR training, storage service, selling fuel oil,
fertilizer and steel products, selling non-ferrous metal and cars.
SC is mainly engaged in international trade, investment and
management of its subsidiaries.
Mr. Wan Huizhong has been chairman & legal representative of SC
since 2014.
SC’s employee’s information is unavailable at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Nanjing. The detail
information of the total premise is unspecified.
http://www.jslgroup.com/
The design is professional and the content is well organized. At present the
web site is both in Chinese and English versions.
E-mail: jsl@jslgroup.com
Changes of its
registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
2001-3 |
Chinese name (English name remains the same) |
|
|
|
2002-2 |
Legal representative |
Yang Yuanfu |
Gu Tianming |
|
2005-11 |
Gu Tianming |
Xie Shao |
|
|
2008-9 |
Registered capital |
CNY 129,880,000 |
CNY 194,820,000 |
|
2009-7 |
CNY 194,820,000 |
CNY 253,266,000 |
|
|
2010-10 |
CNY 253,266,000 |
Present amount |
|
|
2011-7 |
Company Name |
Jiangsu Light Industrial Products Import and
Export (Group) Corp. |
Present one |
|
Legal
representative |
Xie Shao |
Present one |
|
|
Unknown |
Registration No. |
3200001101045 |
Present one |
Subject passed the annual inspection of 2012 with
Administration for Industry & Commerce.
Organization Code: 13476361x
MAIN SHAREHOLDERS: (As of June 30, 2013)
Name %
of Shareholding
Jiangsu High Hope International Group Co., Ltd. 74.18
Other shareholders 25.82
Jiangsu High Hope International Group Co., Ltd.
===================================
High Hope Group, adhering to the development principle of larger and
stronger main business with appropriate diversification, has gradually
developed three main business sectors in trade, real estate and investment. By
actively forging the broad-trade structure and establishing extensive economic
and trade relationships with over 200 countries and regions around the world,
High Hope has implemented the “Going Global” strategy and participated in
international economic cooperation via multiple channels.
Registration No.: 320000000002872
Legal representative: Tang Guohai
Website: http://www.high-hope.com/
Email: mail@high-hope.com
Tel: 025-84691000
Fax: 025-84572097
Chairman & Legal Representative:
Mr. Wan Huizhong, ID#: 32011419640807xxxx, born in 1964, he is currently
responsible for the overall management of SC
Working Experience(s):
Before Worked in SC as general manager
From 2014 to present
Working in SC as chairman and legal representative.
Also working in Jiangsu Skyrun Travel Service Co., Ltd., JSL Changzhou
Friendly Footwear Co., Ltd., FarmaSino Pharmaceuticals (Jiangsu) Co., Ltd. and
Jiangsu Yuyuan Industrial Co., Ltd. as legal representative, etc.
General Manager:
Mr. Bi Jinbiao, ID#: 34030219720702xxxx, born in 1972, he is currently
responsible for the daily management of SC
Working Experience(s):
At present Working in SC
as general
manager
Directors:
Wang Yi
Wang Jianying
Fan Zhongfeng
Etc.
Supervisor:
Yu Hui
Pan Shijie
Etc.
SC is and mainly engaged in international trade, investment
management of its subsidiaries.
SC’s products mainly include: crafts, T-shirt, toys, stationery and
stainless steel tableware
The brands of SC mainly include: “Friendly”, “JslToys”, “Tiger”,
“Giraffe”, “Swallow”, “Panda” and “Timon”.
SC sources its materials 60% from domestic market, and 40% from Hong
Kong, Europe and U.S.A. SC sells 40% of its products in domestic market, and
60% to overseas market, mainly U.S.A, Europe and Southeast Asia 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 refused
to release its main customers and suppliers.
TRADEMARKS & PATENTS
Registration No.: 11509750
Registration Date: Feb. 21, 2014
Trademark Design:
Registration No.: 3549601
Registration Date: Jun. 7, 2005
Trademark Design: 
Registration No.: 4316757
Registration Date: Oct. 7, 2008
Trademark Design: 
SC is known to
have the following subsidiaries:
Jiangsu Skyrun Shipbuilding & Trading Co., Ltd.
Jiangsu Skyrun Travel Service Co., Ltd.
JSL Changzhou Friendly Footwear Co., Ltd.
FarmaSino Pharmaceuticals (Jiangsu) Co., Ltd.
Jiangsu Yuyuan Industrial Co., Ltd.
Etc.
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.
Bank of China Jiangsu Branch
AC#：N/A
Relationship: Normal.
Financial
Summary
Unit: CNY’000
|
|
As
of Dec. 31, 2012 |
As
of Jun. 30, 2013 |
|
Total assets |
5,967,750 |
6,533,720 |
|
Total liabilities |
4,957,390 |
5,548,450 |
|
Equities |
1,010,360 |
985,270 |
|
|
============= |
============= |
|
|
As
of Dec. 31, 2012 |
Jan.
1 ~ Jun. 30, 2013 |
|
Turnover |
9,894,410 |
3,913,350 |
|
Profits |
90,960 |
84,680 |
Note: We did not find SC’s detailed financial statements.
Important
Ratios
=============
|
|
As
of Dec. 31, 2012 |
As
of Jun. 30, 2013 |
|
*Liabilities to assets |
0.83 |
0.85 |
|
*Net profit margin (%) |
0.92 |
2.16 |
|
*Return on total assets (%) |
1.52 |
1.30 |
|
*Turnover/Total assets |
1.66 |
0.60 |
PROFITABILITY:
AVERAGE
The turnover of SC appears good in its line.
SC’s net profit margin appears average.
SC’s return on total assets appears average.
SC’s turnover is in an average level, comparing with the size of its
total assets.
LEVERAGE: FAIR
The debt ratio of SC is high.
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered an old-established business with fairly stable financial
conditions. Taking into consideration of SC’s development history, background
and operation size.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SHG |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 |
-- |
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.