MIRA INFORM REPORT
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Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI KRUPP
STAINLESS CO., LTD. |
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Registered Office : |
No. 21, Tongyao Road, Pudong New District,
Shanghai, 200126 Pr |
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Country : |
China |
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Date of Incorporation : |
07.04.1998 |
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Com. Reg. No.: |
310000400191427 |
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Legal Form : |
Chinese-Foreign Equity Joint
Venture Enterprise |
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Line of Business : |
· Engaged in manufacturing stainless steels and its products · Engaged in Selling self-made products and providing related technology consulting, technology services, and after-sale services (if the trade of the goods is governed by the quota or special rule, relevant regulations shall be followed) · Subject product ranges includes cold rolled wide strip, slit strips and sheets as well as austenitic and ferrite grades |
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No of Employees : |
Not Available |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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, 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 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. Debt overhang from its credit-fueled stimulus program in 2008-10,
particularly among local governments, and soaring property prices challenge
policy makers currently. Their efforts to cool a red-hot property market in
2011 appear to have curbed inflation, but contributed to slower GDP growth in
2012 and 2013. Slow recovery in Europe and other key export markets have also
retarded growth. 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 fixed investments
and exports in the future. 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 & Address
SHANGHAI KRUPP STAINLESS Co., Ltd.
NO. 21, TONGYAO
ROAD, pudong new district,
shanghai, 200126 PR
CHINA.
TEL: 86 (0)
21-38874887 FAX: 86 (0) 21-68702025
EXECUTIVE
SUMMARY
INCORPORATION DATE : april 7,
1998
REGISTRATION
NO. : 310000400191427
REGISTERED LEGAL FORM :
CHINESE-FOREIGN EQUITY JOINT VENTURE ENTERPRISE
CHIEF EXECUTIVE : MR. CUI JIAN (CHAIRMAN)
STAFF STRENGTH : N/A
REGISTERED CAPITAL : usd 428,900,000
BUSINESS LINE : MANUFACTURING AND
tRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : steady
GENERAL REPUTATION : well-known
EXCHANGE RATE : CNY
6.23 = 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 Chinese-foreign equity joint venture enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on April 7, 1998.
Company Status:
Chinese-foreign equity joint venture enterprise This form of business
in PR China is defined as a legal person. It is a limited co. jointly
invested by one or more foreign companies and one or more PR China
controlled companies within the territories of PR China according to a
certain proportion of capital investment. The investing parties exercise
business management, share profits and bear all risks and liabilities of
the co. together. The equity joint venture law requires that foreign party
contribute not less than 25% of the registered capital, with no maximum.
The joint venture usually have a limited duration of 10 to 50 years.
Enterprise with large investment, long construction periods, low investment
returns, introducing of advanced technology & advanced technology
products which have good competition position in international market may
extend beyond the 50 years limit.
SC’s registered
business scope includes manufacturing stainless steels and its products,
selling self-made products and providing related technology consulting,
technology services, and after-sale services (if the trade of the goods is
governed by the quota or special rule, relevant regulations shall be followed);
leasing its houses at the address of No. 21, Tongyao Road, Pudong New Area,
Shanghai (with permit if needed).
SC is mainly
engaged in manufacturing and selling stainless products.
Mr. Cui Jian is legal representative and chairman of SC at present.
SC’s management
declined to disclose its staff strength.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the industrial zone of
Shanghai. Our checks reveal that SC owns the total premise about 424,000 square
meters.
http://www.skschina.com/ The
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
Email: john.wu@skschina.com ; billy.tan@skschina.com
Changes of its
registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2002 |
Legal representative |
Chen Haisheng |
Hu Xuefa |
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2010-1 |
Legal representative |
Hu Xuefa |
Lou Dingbo |
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Unspecified |
Shareholder’s name |
Shanghai Pudong Steel Co., Ltd. |
Baosteel
Group Shanghai Pudong Iron & Steel Co., Ltd. 40 |
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Registration No. |
024761 |
310000400191427 |
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Legal representative |
Lou Dingbo |
present
one |
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Shareholder’s name |
ThyssenKrupp Nirosta GmbH (Germany) |
Outokumpu Nirosta GmbH (Germany) |
SC’s quality system meets the international standards of ISO 9001.
Organization code: 607391132
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Outokumpu Nirosta GmbH (Germany) 60
Baosteel Group Shanghai Pudong
Iron & Steel Co., Ltd. 40
Outokumpu Nirosta GmbH (Germany)
============================
Outokumpu Nirosta is a business
segment of Outokumpu, headquartered in Krefeld, Germany. It produces flats of
stainless steel. Formerly, it was named ThyssenKrupp Nirosta and part of
ThyssenKrupp AG.
Baosteel Group Shanghai Pudong
Iron & Steel Co., Ltd.
========================================
Incorporation date: May 23, 1996
Registration no.: 310115000334789
Registered capital: CNY 3,144,736,700
Legal representative: Zhu Hua
Legal form: One-person Limited Liability
Company
Legal representative
and chairman:
Mr. Cui Jian is currently responsible for the
overall management of SC.
Working
Experience(s):
At present Working
in SC as chairman and legal representative
Vice-chairman:
Mika Ilkka Seitovirta is currently responsible
for the daily management of SC.
Working
Experience(s):
At present Working
in SC as vice-chairman
General manager:
Lu Hui is currently responsible for the daily
management of SC.
Working
Experience(s):
At present Working
in SC as general manager
Directors:
Lu Hui
Reinhard Florey
Zhu Wenhua
SC is mainly
engaged in manufacturing and selling stainless products.
SC’s products
mainly include cold rolled wide strip, slit strips and sheets as well as austenitic
and ferrite grades
SC sources its materials 50%
from domestic market, and 50% from overseas market, mainly Germany and Italy.
SC sells 90% of its products in domestic market, and 10% 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 declined to release its customer and supplier
details.
SC
is not known to have any subsidiary at present.
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.
Industrial & Commercial Bank of China Shanghai Branch
No. 2 Office
AC#：021907-1001190709016261997
Relationship:
Normal.
SC’s management refused to release any financial information.
SC was established in 1998, taking into
consideration of SC’s general performance, reputation as well as market
conditions we would rate SC as an average credit risk company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
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UK Pound |
1 |
Rs.102.77 |
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Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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.