MIRA INFORM REPORT
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Report Date : |
12.12.2014 |
IDENTIFICATION DETAILS
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Name : |
RZBC IMPORT
& EXPORT CO., LTD. |
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Registered Office : |
No. 66, |
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Country : |
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Date of Incorporation : |
17.01.2005 |
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Com. Reg. No.: |
371100228027260 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is
mainly engaged in trading of biochemical products,
chemical products, foods. |
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No. of Employees : |
40 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
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
RZBC IMPORT &
EXPORT CO., LTD.
NO. 66, LVZHOU SOUTH ROAD, RIZHAO CITY,
SHANDONG PROVINCE, 276800 PR CHINA
TEL: 86
(0) 633-2163517/2163559 FAX: 86
(0) 633-2163500
EXECUTIVE SUMMARY
INCORPORATION DATE : JAN. 17, 2005
REGISTRATION NO. : 371100228027260
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE : MR. JIAO GUANGMING (CHAIRMAN)
STAFF STRENGTH : 40
REGISTERED CAPITAL : CNY 26,000,000
BUSINESS LINE : TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.1714 = 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
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 January 17,
2005, and has been under present ownership since March, 2006.
Company Status: One-person Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes grain purchasing; selling building
materials, chemical products (excluding monitoring and hazardous chemicals), machinery
and equipment, instruments, feed, organic fertilizer, raw meat; bioengineering
technology consulting services; importing and exporting commodities and
technology, excluding the items prohibited or limited by the country.
SC is mainly engaged in trading of biochemical products, chemical products, food, etc.
Mr. Jiao Guangming has been legal
representative, chairman and general manager of SC since 2014.
SC is known to have approx. 40
employees at present.
SC is currently operating
at the above stated address, and this address houses its operating office in
the commercial zone of Rizhao. Our checks reveal that SC rents the total
premise about 300 square meters.
SC is not known to host 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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2006-3 |
Shareholders |
Shandong Jinhe Biochemical Co., Ltd.
(90%), Shao Minglun (10%) |
Shandong Jinhe Biochemical Co., Ltd.
(100%) |
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Registered
legal form |
Limited
liabilities co. |
One-person Limited Liability Company |
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2006-12 |
Legal
representative |
Kou Guangzhi |
Shao Minglun |
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Registered
capital |
CNY
6,000,000 |
CNY
26,000,000 |
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2008-5-20 |
Shareholder’s
name |
Shandong Jinhe Biochemical Co., Ltd. |
Rizhao Jinhe Biochemical Group Co., Ltd.
(RZBC Group) |
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2010-9-2 |
Shareholder’s
Chinese name |
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2014-11-24 |
Legal
representative |
Shao Minglun |
Present one |
Subject passed the annual inspection
of 2012 with Administration for Industry & Commerce.
Organization Code: 771012739
There is no record of litigation till
now.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Rizhao Jinhe
Biochemical Group Co., Ltd. (RZBC Group) 100
The main products of RZBC GROUP are citric
acid and its salts. Nowadays, the production capacity has reached 220000MT per
year. RZBC has been specializing in the developments of Citric Acid and its
series for a long time. RZBC GROUP enjoys a high reputation in citric acid line
in China. It is the Vice Director of China Fermentation Industry Association Citric Acid Branch; the Vice Director of
China Chamber of Commerce of Metals Minerals & Chemicals Importers &
Exporters Citric Acid Branch as well as the Director and Secretary General of
Chinese Institute of Food Science Technology Citric Acid Branch. RZBC has been
accredited by not only ISO9000, ISO14001, ISO22000, KOSHER, HALAL, FAMI-QS, but
also HACCP, IP, GMP.
Registration No.:
371100228026460
Legal
representative: Kou Guangzhi
Incorporation
date: 2004-12-02
Tel: 86-633-2163523
Fax:
86-633-2163500
Email: sales@rzbc.com
Website: http://www.rzbc.com
l Legal
representative, chairman and general manager:
Mr. Jiao Guangming is currently responsible for the overall management
of SC.
Working Experience(s):
From 2014 to present Working in SC as
legal representative, chairman and general manager
Supervisor:
========
Wei Caixia
SC is mainly engaged in trading of biochemical products, chemical products, food, etc.
SC’s products mainly include: Citric acid monohydrate, Citric acid
anhydrous, sodium citrate, etc.
SC sources its materials 80% from domestic market, and 20% from overseas
market. SC sells 30% of its products in domestic market, and 70% to overseas
market, mainly
The buying terms of SC include Check, L/C,
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.
Note:
SC refused to release its main clients and suppliers.
According to http://www.rzbc.com
Rizhao Luxin Jinhe Biochemical Co., Ltd.
============================
Registration no.: 371100018050661
Legal representative: Jiang Ying
Incorporation date: 2002-08-27
Rizhao Jinhe Boyuan Biochemical Co., Ltd.
============================
Registration no.: 371122228007859
Legal representative: Liu Jianxiong
Incorporation date: 2006-03-01
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
AC#：N/A
Relationship:
SC’s management declined to release any
financial information.
SC is considered medium-sized in its line with 9 years operation
history. Taking into consideration of SC’s development history and operation
size we would rate SC as an average credit risk company, credit up to moderate
amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.21 |
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1 |
Rs.97.80 |
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Euro |
1 |
Rs.77.48 |
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.