MIRA INFORM REPORT
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Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
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Name : |
FOSHAN NANHAI GRAND
CHAMPION TRADING LIMITED |
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Registered Office : |
Unit No.
1716, Building 2, Tianan
Nanhai Cyber Park 1st Jianping Road, Guicheng,
Nanhai District, Foshan Guangdong Province 518001
Pr |
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Country : |
China |
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Date of Incorporation : |
26.08.2004 |
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Com. Reg. No.: |
440682000081707 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject includes
domestic trade; importing and exporting commodities and technology; and
selling gold, silver, and iron ore. |
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No of Employees : |
15 |
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 and Address
FOSHAN NANHAI GRAND CHAMPION TRADING LIMITED
UNIT NO. 1716, BUILDING 2, TIANAN NANHAI CYBER
PARK
1ST JIANPING ROAD, GUICHENG, NANHAI DISTRICT,
FOSHAN
GUANGDONG PROVINCE 518001 PR CHINA
TEL: 86 (0) 757-86322778/86223707
FAX: 86 (0) 757-86223707
EXECUTIVE
SUMMARY
Date of Registration : AUGUST 26, 2004
REGISTRATION NO. : 440682000081707
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 1,000,000
staff : 15
BUSINESS CATEGORY : trading
Revenue : N/A (AS OF DEC. 31, 2013)
EQUITIES : N/A (AS OF DEC. 31,
2013)
WEBSITE : www.fsguanhong.com
E-MAIL : fsgrandchampion@163.com
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.15 = 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 with State Administration of Industry
& Commerce (SAIC) under registration No.: 440682000081707 on August 26,
2004.
SC’s Organization Code Certificate No.:
76655766-2
SC’s Tax No.: 440682766557662
SC’s registered capital: CNY 1,000,000
SC’s paid-in capital: CNY 1,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2007-7-4 |
Shareholder (s)
(% of Shareholding) |
Deng Weihong 15% Deng Xuefang 85% |
Foshan
Guangxinda Investment Industry Co., Ltd. 75% Deng 25% |
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2008-7-11 |
Registration No. |
4406822007558 |
440682000081707 |
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2009-9-18 |
Shareholder (s)
(% of Shareholding) |
Foshan
Guangxinda Investment Industry Co., Ltd. 75% Deng Xuefang 25% |
Cheng Guoqiang 10% Deng Xuefang 90% |
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2009-9-30 |
Shareholder (s) |
Cheng Guoqiang 10% Deng Xuefang 90% |
Yuan Shaomei 10% Deng Xuefang 90% |
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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Yuan Shaomei |
10 |
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Deng Xuefang |
90 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal
Representative, Chairman, and General Manager |
Deng Xuefang |
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Supervisor |
Yuan Shaomei |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Yuan Shaomei 10
Deng Xuefang 90
MANAGEMENT
Deng Xuefang, Legal
Representative, Chairman, and General Manager
-------------------------------------------------------------------------------------------------------
Ø
Gender: F
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman, and general manager
Also
working in Zhejiang Jinmangguo Import and Export Co., Ltd. as legal
representative
Yuan Shaomei, Supervisor
----------------------------------------------
Ø
Gender: F
BUSINESS
OPERATION
SC’s registered
business scope includes domestic trade; importing and exporting commodities and
technology; and selling gold, silver, and iron ore.
SC is mainly
engaged in international trade.
SC’s products
mainly include: aluminum sheet, steel pipe, etc.
SC sources its products 100% from domestic market. SC sells 70% of its
merchandises in domestic market, and 30% to overseas market, mainly U.S.A., Southeast Asia, etc.
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.
*Major Clients*
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Kittywalk Systems Inc.
Italia Faucets Inc.
Staff & Office:
--------------------------
SC is known
to have approx. 15 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED
COMPANY
Foshan
Guan Tong Metal Material Ltd.
Registration
No.: 440682000058500
Date
of Registration: April 7, 2008
Legal
Form: Limited Liabilities Company
Registered
Capital: CNY 500,000
Legal
Representative: Chen Minhua
Foshan
Yuan Zhongsheng Metal Material Ltd.
Registration
No.: 440682000002510
Date
of Registration: March 2, 2005
Legal
Form: Limited Liabilities Company
Registered
Capital: CNY 500,000
Legal
Representative: Huang Guangqu
Etc.
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
Basic Bank
Foshan Nanhai Guicheng Rural Credit Cooperatives
AC#: 0301012040007529
FINANCIALS
SC’s financials are not filed in local SAIC, and SC also refused to
release the details.
CONCLUSIONS
SC is considered medium-sized in its line with 10 years business
history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
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UK Pound |
1 |
Rs.97.39 |
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Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
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.