MIRA
INFORM REPORT
|
Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
chaozhou city CHAOAN district SHUNDAJIA CERAMICS CO., LTD. |
|
|
|
|
Registered Office : |
Wuyang Industrial Zone, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
18.07.2003 |
|
|
|
|
Com. Reg. No.: |
445121000032222 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Manufacturing and Trading of Ceramics. |
|
|
|
|
No. of Employees : |
100 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 and address
chaozhou city CHAOAN district SHUNDAJIA CERAMICS CO., LTD.
WUYANG INDUSTRIAL ZONE, FUYANG TOWN, CHAOAN
DISTRICT,
CHAOZHOU CITY, GUANGDONG PROVINCE, 515642 PR
CHINA
TEL: 86 (0)
768-5225611 FAX: 86 (0) 768-5225613
EXECUTIVE SUMMARY
INCORPORATION DATE : july 18, 2003
REGISTRATION NO. : 445121000032222
REGISTERED LEGAL
FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 100
REGISTERED CAPITAL :
CNY 580,000
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 6.2234 = 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
Note: The supplied name “Chaoan Shundajia Ceramics
Making Co., Ltd.” is SC’s previous name.
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
July 18, 2003.
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
import and export of goods, import and export of technology (excluding the
project that legal and administrative regulations prohibited, with permit to
operate if needed). Production and sales: ceramics; rattan, iron, wood, cloth,
metal and other ancillary crafts ceramics; clothing; processing: glass products
(excluding casting), resin products.
SC is mainly engaged in manufacturing and
trading of ceramics.
Mr. Lu Yixin is legal
representative, executive director and manager of SC at present.
SC is known to have approx. 100 employees at present.
SC is currently operating
at the above stated address, and this address houses its operating office and
factory in the industrial zone of Chaozhou. Detailed premise information is not
available at present.
www.shundajia.cn The design is
professional and the content is well organized. At present it is in English and
Chinese versions.
Email: sdj@shundajia.cn
For the past two years there is no record of
litigation.
Changes of its registered information are as
follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
2014-11-19 |
Company name |
Chaoan Shundajia
Ceramics Making Co., Ltd. |
Chaozhou City Chaoan District Shundajia
Ceramics Making Co., Ltd. |
|
Company name |
Chaozhou City Chaoan District Shundajia
Ceramics Making Co., Ltd. |
The present one |
Subject passed the
annual inspection of 2012 with Administration for Industry & Commerce.
Organization Code:
752097175
MAIN SHAREHOLDERS:
Name %
of Shareholding
Lu Yixin 65.52
Huang Lifang 34.48
l
Legal Representative, Executive Director and
Manager:
Mr. Lu Yixin is currently responsible for the overall and daily management of SC.
Working Experience(s):
At present Working in SC as legal representative,
executive director and manager.
l
Supervisor:
Huang Lifang
SC is mainly engaged in manufacturing and
trading of ceramics.
SC’s products mainly include: crafts & arts vase, receptacles, to
daily-used tableware, etc.
SC sources its
materials 80% from domestic market, and 20% from overseas market. SC sells 20%
of its products in domestic market, and 80% to overseas 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
refused to release its major customers or suppliers.
SC is not known to have any subsidiary or branch.
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 bank details are not available at
present.
SC’s accountant refused to release the
financial information.
SC has developed for 11 years. Due to lack
of financial statements, we are unable to determine the maximum credit limit
for SC.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.32 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.78.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.