MIRA INFORM REPORT
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Report Date : |
08.12.2014 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN NORINCO
INDUSTRIES CO., LTD. |
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Registered Office : |
Room 3702, International Science & Technology Building, Shennan Middle Road, Futian District, Shenzhen, Guangdong Province, 518033 PR |
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Country : |
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Date of Incorporation : |
23.11.1998 |
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Com. Reg. No.: |
440301103195947 |
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Legal Form : |
Limited Liabilities Co |
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Line of Business : |
Subject scope includes domestic
commerce, material supply and marketing industry (excluding franchised,
controlled and monopolized goods); import and export with permit; develop enterprises
(with application); trade business consulting; freight forwarding; marketing
planning. Purchase and sale of coal.
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
A2 |
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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 |
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
SHENZHEN NORINCO INDUSTRIES CO., LTD.
ROOM 3702, INTERNATIONAL SCIENCE & TECHNOLOGY BUILDING,
SHENNAN MIDDLE ROAD, FUTIAN DISTRICT, SHENZHEN, GUANGDONG
PROVINCE, 518033 PR CHINA (REGISTERED ADDRESS)
TEL: N/A
FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : NOV. 23, 1998
REGISTRATION NO. : 440301103195947
REGISTERED LEGAL FORM :
LIMITED LIABILITIES CO.
CHIEF EXECUTIVE : FENG GUANGSHENG (LEGAL REPRESENTATIVE)
STAFF STRENGTH : N/A
REGISTERED CAPITAL : CNY 10,000,000
REGISTERED 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 6.1502=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 limited liabilities co. At local Administration for Industry & Commerce (AIC-The official body of issuing and renewing business license) on Nov. 23, 1998.
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 commerce, material supply and marketing industry (excluding franchised, controlled and monopolized goods); import and export with permit; develop enterprises (with application); trade business consulting; freight forwarding; marketing planning. Purchase and sale of coal.
Feng Guangsheng has been registered as legal representative and chairman of SC since 2014.
We could not contact SC. So 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 the.
The given contact information:
Tel: 0755-83784402/ 83784445
Fax: 0755-83760450/ 83761000
We dialed the above numbers, but no one answered.
Then we contacted SC through the numbers (0755-83784447/83784430/83784401), but no one answered. And we found another telephone number (0755-83278063), but it could not be connected.
Exhausting our efforts, we are unable to find SC’s telephone number in various information sources, including the internet, yellow pages and telecom companies.
SC is not known to have website of its own at present.
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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2002-4-26 |
Legal representative |
Yan Qi |
Zeng Shigui |
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2003-3-24 |
Company’s name |
Shenzhen Beifang Langda Trading Co., Ltd. (In Chinese Pinyin) |
Present one |
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2005-5-25 |
Legal representative |
Zeng Shigui |
Li Dai |
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2008-2-29 |
Registration no. |
4403011011294 |
Present one |
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2008-12-10 |
Legal representative |
Li Dai |
Jiang Hong |
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2011-9-7 |
Legal representative |
Jiang Hong |
Guo Yongchun |
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2014-8-28 |
Legal representative |
Guo Yongchun |
Present one |
Subject passed the annual inspection of 2012 with Administration for Industry & Commerce.
Organization Code: 708464687
MAIN SHAREHOLDERS:
Name %
of shareholdings
Deng Yaoqiang 5
Feng Guangsheng 18
Chengdu Huafengxing Import And Export Trade Co., Ltd. (In Chinese Pinyin) 33
North Industries Technology Co., Ltd. 35
Feng Fenghua 9
Chengdu Huafengxing Import And Export Trade Co., Ltd.
==========================================
Registration No.: 510107000080701
Registered Legal Form: Limited Liabilities Co.
Legal representative: Huang Yong
North Industries Technology Co., Ltd.
===========================
Registration No.: 100000000030297
Legal representative:
Incorporation Date: 1998-08-06
Legal Representative and Chairman:
Feng Guangsheng
General Manager:
Huang Yong
Also working in Chengdu Huafengxing Import And Export Trade Co., Ltd. as legal representative.
Directors:
Jiang Shunzhong
Huang Yong
Ding Shikai
Feng Fenghua
Supervisors:
Guo Youxin
Fu Cheng
Wang Mingli
Exhausting our efforts, we are unable to find SC’s telephone number in various information sources, including the internet, yellow pages and telecom companies.
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.
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.
SC’s bank details are not available at present.
We didn’t find SC’s
financial statements in local Administration for Industry and Commerce.
Despite having exhausted all our effort, we are unable to contact
SC, so precise credit estimate cannot be made at present. If further contact details of SC can be
provided, we will definitely continue this research.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.85 |
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1 |
Rs.96.73 |
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Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
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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.