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Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
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Name : |
hercules tools ( |
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Registered Office : |
Room 208, Building 1, No. 151 Yuanye Road, Anting Town, Jiading
District, Shanghai, 201805 PR |
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Country : |
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Date of Incorporation : |
13.06.2011 |
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Com. Reg. No.: |
310114002281605 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in import and export of goods and technology, trade brokerage
and agency (excluding auction), business consulting, selling of automobile
and motorcycle accessories, digital products, hardware tools, hardware,
electrical equipment, machinery and equipment, metal materials, building
materials, general merchandise, clothing, footwear, chemical raw materials
and product, computers, software and auxiliary equipment (except for computer
information system security products) (excluding hazardous chemicals,
controlled chemicals, fireworks, civil explosives, precursor chemicals). |
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No of Employees : |
10 |
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 : |
Slow But Correct |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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, creation of a
diversified banking system, development of stock markets, rapid growth of the
private sector, 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 it considers important to
"economic security," explicitly looking to foster globally competitive
national champions. After keeping its currency tightly linked to the US dollar
for years, in July 2005 China revalued its currency by 2.1% against the US
dollar and 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. 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 2012 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 demand; (b) sustaining
adequate job growth for tens of millions of migrants and new entrants to the
work force; (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. In 2010-11, China
faced high inflation resulting largely from its credit-fueled stimulus program.
Some tightening measures appear to have controlled inflation, but GDP growth
consequently slowed to under 8% for 2012. An economic slowdown in Europe
contributed to China's, and is expected to further drag Chinese growth in 2013.
Debt overhang from the stimulus program, particularly among local governments,
and a property price bubble challenge policy makers currently. The government's
12th Five-Year Plan, adopted in March 2011, emphasizes continued economic
reforms and the need to increase domestic consumption in order to make the
economy less dependent on exports in the future. However, China has made only
marginal progress toward these rebalancing goals.
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Source
: CIA |
hercules tools (Shanghai) Co., Ltd.
room 208, Building 1, No. 151 yuanye Road,
anting town,
Jiading District, Shanghai, 201805 PR CHINA
TEL: 86 (0) 21-59573110 FAX: 86 (0) 21-59575550
INCORPORATION DATE : Jun. 13, 2011
REGISTRATION NO. : 310114002281605
REGISTERED LEGAL FORM : One-person Limited
Liability Company
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
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
6.06 = 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: SC’s complete name should be the heading
one.
SC was registered as a One-person Limited Liability Company at
local Administration for industry & commerce (AIC - the official body of
issuing and renewing business license) on Jun. 13, 2011.
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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 CNY 100,000.
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 import and export of goods and
technology, trade brokerage and agency (excluding auction), business
consulting, selling of automobile and motorcycle accessories, digital products,
hardware tools, hardware, electrical equipment, machinery and equipment, metal
materials, building materials, general merchandise, clothing, footwear,
chemical raw materials and product, computers, software and auxiliary equipment
(except for computer information system security products) (excluding hazardous
chemicals, controlled chemicals, fireworks, civil explosives, precursor
chemicals). (with permit if needed).
SC is mainly engaged in trading of tools and hardware.
Mr. Zheng Haipeng
is legal representative, chairman and general manager of SC at present.
SC is known to
have approx. 10 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the industrial zone of Shanghai. Detailed
information of the premise is unspecified.
http://www.hercules-tools.com/
The design is professional and the content is well organized. At present it is
only in English version.
E-mail: hercules@hercules-tools.com, hercules.tools@gmail.com
Subject passed the annual inspection of 2012 with Administration for
Industry & Commerce.
Organization Code: 575899467
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Zheng Haipeng 100
l
Legal Representative, Chairman and General Manager:
Mr. Zheng Haipeng is currently responsible for the overall
and daily management of SC.
Working Experience(s):
At present Working
in SC as legal representative, chairman and general manager.
l
Supervisor:
Lin Li
SC is mainly
engaged in trading of tools and hardware.
SC’s products mainly include: pliers, wrenches, hammers, cutting tools,
welding tools, garden tools, building tools, polishing tools, screwdrivers,
nails, knives, measurement tools, locks, fixtures, and electrical equipment.
SC sources its materials 100% from domestic
market. SC sells 10% of its products in domestic market, and 90% to overseas
market.
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.
Note:
SC’s management declined to release its major clients and suppliers.
SC
is not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good ( ) 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 declined to
release its bank details.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with 3 years development
history Taking into consideration of SC’s market conditions and development history,
we would rate SC as an above average credit risk company. Credit confined into
small 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. 62.31 |
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1 |
Rs. 101.77 |
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Euro |
1 |
Rs. 84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.