MIRA
INFORM REPORT
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Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
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Name : |
CSF CO., LTD. |
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Registered Office : |
Shangzhuang, Wucheng Town, Wucheng County, Dezhou, Shandong Province, 253300 PR |
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Country : |
China |
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Date of Incorporation : |
03.11.2000 |
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Com. Reg. No.: |
371428228000714 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in manufacturing and selling flavoring and season
oil. |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 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.
|
Source
: CIA |
Company name and address
csf Co., Ltd.
shangzhuang, wucheng town, wucheng county,
dezhou, shandong PROVINCE, 253300 PR CHINA
TEL: 86 (0) 534-2175482/13355445277
FAX: 86 (0) 534-6659808
EXECUTIVE SUMMARY
INCORPORATION DATE : Nov. 3, 2000
REGISTRATION NO. : 371428228000714
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. tan yingchao (CHAIRMAN)
STAFF STRENGTH :
50
REGISTERED CAPITAL : CNY 70,000,000
BUSINESS LINE :
MANUFACTURING & 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
6.14 = 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 detailed address should be the heading one.
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. 3, 2000.
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 manufacturing and selling
flavoring (cayenne pepper), season oil (chili oil), roasted seeds and nuts,
vegetable products (preserved vegetables) and food additives (capsanthin and capsicum
oleoresin); purchasing and selling hot pepper, ginger, garlic, Suzi native
products; exporting its products and technologies, and importing mechanical
equipment, components, raw materials and technologies needed in the
manufacture, excluding the items limited or forbidden by the state. (with
permit if needed)
SC is mainly engaged in manufacturing and selling flavoring and season
oil.
Mr. Tan Yingchao is legal representative and chairman of SC at present.
SC is known to have approx. 50 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 Wucheng
County. The detailed information of the premise is unspecified.
http://www.sdpepper.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email: ivypepper@hotmail.com
SC was formerly known as Wucheng Yingchao Economy and Trade Co., Ltd.,
and adopted present name in July 2013.
Subject passed the annual inspection of 2012 with Administration for
Industry & Commerce.
Organization Code: 725414200
SC’s quality system meets the international standards of ISO 9001.
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Tan Yingchao 90
Wang Zhenqin 10
Legal
representative and Chairman:
Mr. Tan Yingchao is currently responsible for the overall management of
SC.
Working
Experience(s):
At present Working
in SC as legal representative and chairman
SC is mainly engaged in manufacturing and selling flavoring and season
oil.
SC’s products mainly include: chili powder, chili crushes, pepper, Huhu
Soybean Paste
SC sources its materials 90% from domestic market, and 10% from overseas
market. SC sells 70% of its products in domestic market, and 30% 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 known to have the following subsidiaries: (website sources)
Shandong Loveper Natural Food Co., Ltd.
---------------------------------------------------
Registered no.: 371428228305414
Legal representative: Wang Zhenqin
Date of incorporation:
Dezhou Dawon Foods Co., Ltd.
--------------------------------------
Registered no.: 371400400002875
Legal representative: Wang Zhenqin
Date of incorporation:
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 management declined to release its bank details.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a development history of
14 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.70 |
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1 |
Rs.100.97 |
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Euro |
1 |
Rs.84.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.