MIRA
INFORM REPORT
|
Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI
NAR INDUSTRIAL CO., LTD. |
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Registered Office : |
No. 26 Xinhan Road, Xinchang Town Industrial Zone, Pudong New
District, Shanghai, 201314 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
09.11.2005 |
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Com. Reg. No.: |
310225000486828 |
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Legal Form : |
Shares Limited Co |
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Line of Business : |
Engaged in
researching & developing, manufacturing and selling digital printing
& advertisements materials. |
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|
No. of Employees |
260 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
No complaints |
|
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) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
|
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, 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
SHANGHAI NAR
INDUSTRIAL CO., LTD.
No. 26 Xinhan road, xinchang town
industrial zone,
PUDONG NEW district, shanghai, 201314
PR CHINA
TEL: 86 (0)
21-38015566/31272888-1117 FAX: 86 (0)
21-31275255
EXECUTIVE SUMMARY
INCORPORATION DATE : NOVEMBER 9, 2005
REGISTRATION NO. : 310225000486828
REGISTERED LEGAL FORM : Shares limited co.
STAFF STRENGTH : 260
REGISTERED CAPITAL : CNY 75,000,000
BUSINESS LINE :
RESEARCHING, DEVELOPING, MANUFACTURING AND TRADING
TURNOVER :
CNY 420,890,000 (AS OF DEC. 31, 2013)
EQUITIES :
CNY 218,880,000 (AS OF DEC. 31, 2013)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly good
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.2596 = 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: Nanhui District has been merged into Pudong New District.
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 November 9, 2005 and has been under the present legal form
since 2010.
Company
Status: Shares limited co. This form of business in PR China
is defined as a legal person. Its registered capital is divided into shares
of equal par value and the co. raises capital by issuing share certificates
by promotion or by public offer. Shareholders bear limited liability to the
extent of shareholding, and the co. is liable for its debts only to the
extent of its total assets. The co has independent property of legal person
and enjoys property rights of legal person. The characteristics of the
shares limited co. are as follows: The establishment of the co.
requires at least two promoters and no more than 200, half
of whom shall be domiciled in China.. Natural person are allowed to serve as promoters. The minimum registered
capital of a co. is CNY The board of directors must
consist of five to nineteen directors. If the
co. raises capital by public offer, the promoters must not subscribe less
than 35% of the total shares. the promoters’ shares are restricted to
transfer- within one year of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered
business scope includes manufacturing & processing digital printing
materials, advertisement materials & equipments; selling digital printing
materials, advertisement materials & equipments, hardware, auto components,
decoration materials and chemical materials (excluding hazardous chemicals); designing
& making different kinds of advertisements; economic information
consultation, investment & management; researching & developing digital
printing products; importing & exporting commodities and technology. (with
permit if needed)
SC is mainly
engaged in researching & developing, manufacturing and selling digital
printing & advertisements materials.
Mr. You Aiguo has been legal representative, chairman and
general manager of SC since 2005.
SC is known to
have approx. 260 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 Shanghai. Our checks
reveal that SC owns the total premise, but the gross area of the premise is
unspecific.
http://www.nar.com.cn The design is
professional and the content is well organized. At present it is in Chinese and
English versions.
Email: info@nar.com.cn
; sales@nar.com.cn
Changes of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
|
Shareholders |
You Aiguo 42% Wang Shuming 22.5% Jiang Liujie 8% Lin Lingyun 22.5% Yang Jiantang 5% |
You Aiguo 48% Wang Shuming 27% Yang Jiantang 20% Tao Fusheng 3% Jiang Liujie 1% Lin Lingyun 1% |
|
|
Registered capital |
CNY 10,000,000 |
CNY 22,000,000 |
|
Unknown |
Registration No. |
3102252032521 |
310225000486828 |
|
|
Shareholders |
You Aiguo 48% Wang Shuming 27% Yang Jiantang 20% Tao Fusheng 3% Jiang Liujie 1% Lin Lingyun 1% |
You Aiguo 48% Wang Shuming 27% Yang Jiantang 20% Tao Fusheng 5% |
|
|
Registered capital |
CNY 22,000,000 |
CNY 30,000,000 |
|
|
Shareholders |
You Aiguo 48% Wang Shuming 27% Yang Jiantang 20% Tao Fusheng 5% |
You Aiguo 48.51% Wang Shuming 25.45% Yang Jiantang 18.66% Tao Fusheng 5.61% Su Daming 1.18% Li Guang 0.59% |
|
|
Registered capital |
CNY 30,000,000 |
CNY 31,100,000 |
|
Shareholders |
You Aiguo 48.51% Wang Shuming 25.45% Yang Jiantang 18.66% Tao Fusheng 5.61% Su Daming 1.18% Li Guang 0.59% |
You Aiguo 46.79% Wang Shuming 24.55%
Yang Jiantang 18.00% Tao Fusheng 5.41% Su Daming 1.13% Li Guang 0.57% Shanghai Nayin Investment & Management Co., Ltd. 3.55% |
|
|
|
Registered capital |
CNY 31,100,000 |
CNY 32,678,800 |
|
Shareholders |
You Aiguo 46.79% Wang Shuming 24.55% Yang Jiantang 18.00% Tao Fusheng 5.41% Su Daming 1.13% Li Guang 0.57% Shanghai Nayin Investment & Management Co., Ltd. 3.55% |
Present ones |
|
|
2010 |
Company’s Chinese name |
上 |
Present one |
|
Legal form |
Limited liabilities co. |
Present one |
|
|
Unknown |
Registered capital |
CNY 32,678,800 |
CNY 45,000,000 |
|
CNY 45,000,000 |
Present amount |
Note: SC changed its Chinese
name in 2010, while its English name remains the same.
Honors:
National Torch Plan Key
High-tech Enterprise
Innovative enterprises in
Shanghai
Outstanding high-tech enterprises in
Shanghai
Shanghai Science and Technology little giant
enterprises
Pudong innovative advanced member
Shanghai Science and Technology Progress
Award
Shanghai famous trademark
Shanghai famous brand
Shanghai Torch Plan
Shanghai key new products
Shanghai high-tech achievement transformation
project outstanding enterprises
NAR won the Shanghai CSA awarded the
"Contribution Award to lead the industry."
Export enterprises top 20
ISO14001：2004
Certified
ISO9001：2008
certified
Various charitable donations
Organization code: 782437935
See below for SC as executive party (defendant).
|
Executed
Party |
Shanghai Nar Industrial Co., Ltd. |
|
Court |
Shanghai City Pudong New District People's Court |
|
Date of Case |
Jan. 27, 2011 |
|
Case
Number |
(2011) 02157 |
|
Claim Amount |
RMB 4,800 |
|
Case Status |
Completed |
Remark: Due to the lack of information, we are unable to provide the cause of action,
judgment or other information.
MAIN SHAREHOLDERS:
Name Investment
amount % of Shareholding
You Aiguo (ID#: 36042519701029****)
CNY
33,398,259 44.53
Wang Shuming
CNY
17,524,205 23.37
Yang Jiantang (ID#: 61030319770524****)
CNY
12,851,222 17.13
Tao Fusheng
CNY
3,863,285 5.15
Su Daming
CNY
809,928 1.08
Li Guang
CNY
405,078 0.54
Shanghai Nayin Investment & Management Co., Ltd. (in
Chinese pinyin)
CNY
2,524,573 3.37
Shanghai Huiyan Investment Center (Limited partnership)
CNY
3,623,450 4.83
Shanghai Nayin Investment & Management Co., Ltd. (in
Chinese pinyin)
==================================================
Legal representative: You Aiguo
Registration No.: 310115001235475
Registered capital: CNY 3,300,000
Legal form: Limited liabilities co.
Shanghai Huiyan Investment Center (Limited partnership)
==========================================
Registration No.: 310115001047712
Legal form: Partnership
l
Legal Representative, Chairman and
General Manager:
Mr. You Aiguo, ID#: 36042519701029****, born
in 1970. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2005 to present Working in SC as legal representative,
chairman and general manager;
Also working in Shanghai Nayin Investment
& Management Co., Ltd. (in Chinese pinyin), Nantong Baina Digital New
Material Co., Ltd. and Shanghai Inflex Signage Co., Ltd. as legal
representative.
l
Directors:
Chen Ranfang
Yang Jiantang ID#:
61030319770524****
Tao Fusheng
Wang Shuming
Wang Xianwei
Chen Yamin
Tang Songchao
Wang Dong
l
Supervisors:
Xiong Hele
Wang Zheng
SC is mainly
engaged in researching & developing, manufacturing and selling digital
printing & advertisements materials.
SC’s
products mainly include: Cold Lamination
Film, Coated Printing Media, Laminated Banner, Vehicle Wrapping Film, PVC Film
& Release Paper, etc.
SC sources its materials 90% from domestic market,
and 10% from overseas market. SC sells 40% of its products in domestic market,
and 60% to overseas market, mainly European countries.
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.
Agents: (according to SC’s website)
-------------------------------------------
Shanghai Dabang Enterprise
Development Co., Ltd.
Linyi Chuncheng Advertising Decoration Materials Co., Ltd.
Note:
SC’s management declined to release its supplier details.
SC is known to invest in the following companies:
Nantong Baina Digital New Material Co., Ltd.
==================================
Incorporation date:
Registration no.: 320683000264267
Registered capital: CNY 80,000,000
Legal rep.: You Aiguo
Legal form: Limited liabilities co.
Tel: 0513-86557156
Fax: 0513-86557156
Shanghai Inflex Signage Co., Ltd.
=========================
Incorporation date:
Registration no.: 310115001082706
Registered capital: CNY 1,000,000
Legal rep.: You Aiguo
Legal form: One-person Limited Liability Company
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.
Shanghai Rural
Commercial Bank Tanzhi Sub-branch
AC#：32753318010141399
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
|
As of Dec. 31, 2013 |
|
Cash & bank |
46,290 |
|
Inventory |
30,600 |
|
Notes receivable |
2,190 |
|
Accounts
receivable |
31,580 |
|
Other Accounts
receivable |
11,840 |
|
Advances to
suppliers |
6,330 |
|
Other current
assets |
65,130 |
|
|
------------------ |
|
Current assets |
193,960 |
|
Long-term
investments |
80,200 |
|
Fixed assets net
value |
28,240 |
|
Projects under
construction |
160 |
|
Intangible assets |
6,970 |
|
Long-term
deferred expenses |
390 |
|
Deferred tax
debit |
3,600 |
|
Other assets |
0 |
|
|
------------------ |
|
Total assets |
313,520 |
|
|
============= |
|
Short loans |
18,900 |
|
Accounts payable |
23,880 |
|
Advance from
customers |
6,330 |
|
Notes payable |
42,300 |
|
Accrued payroll |
2,630 |
|
Taxes payable |
30 |
|
Other Accounts
payable |
570 |
|
Other current
liabilities |
0 |
|
|
------------------ |
|
94,640 |
|
|
Long term
liabilities |
0 |
|
Other
liabilities |
0 |
|
|
------------------ |
|
Total
liabilities |
94,640 |
|
Equities |
218,880 |
|
|
------------------ |
|
313,520 |
|
|
|
============= |
Income Statement
Unit: CNY’000
|
|
As of Dec. 31, 2013 |
|
Turnover |
420,890 |
|
Cost of goods sold |
335,360 |
|
Sales expense |
11,210 |
|
Management expense |
28,850 |
|
Finance expense |
3,290 |
|
Impairment of assets |
2,460 |
|
Investment
income |
1,800 |
|
Non-operating
income |
3,600 |
|
Non-operating expense |
0 |
|
Profit before
tax |
45,120 |
|
Less: profit tax |
6,100 |
|
Profits |
39,020 |
Important Ratios
=============
|
|
As
of Dec. 31, 2013 |
|
*Current ratio |
2.05 |
|
*Quick ratio |
1.73 |
|
*Liabilities
to assets |
0.30 |
|
*Net profit
margin (%) |
9.27 |
|
*Return on
total assets (%) |
12.45 |
|
*Inventory
/Turnover ×365 |
27 days |
|
*Accounts
receivable/Turnover ×365 |
28 days |
|
*Turnover/Total
assets |
1.34 |
|
* Cost of
goods sold/Turnover |
0.80 |
PROFITABILITY:
FAIRLY GOOD
l The turnover of SC
appears fairly good in its line.
l SC’s net profit
margin is fairly good.
l SC’s return on
total assets is good.
l SC’s cost of goods
sold is average, comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a fairly good level.
l
SC’s quick ratio is maintained in a normal level.
l
The inventory of SC appears average.
l
The accounts receivable
of SC is average.
l
SC’s short-term loan is in an average level in
2013.
l
SC’s turnover is in an average level, comparing
with the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly good
SC is considered medium-sized in its line with fairly good
financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.20 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
PDT |
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.