MIRA INFORM REPORT
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Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
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Name : |
DALIAN EVERSHINE INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
No. 69 Qiyi Street, Zhongshan District, Dalian Liaoning Province 116001 PR |
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Country : |
China |
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Date of Incorporation : |
19.08.1999 |
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Com. Reg. No.: |
210200000057861 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject includes
wholesale and retail of packaging materials, daily general merchandise,
knitwear and textile, garments, mineral products, hardware commodities, metal
materials, metal products, building decoration materials, mechanical and
electrical products, communication equipment; purchase, wholesale and retail
of aquatic products, livestock products, agricultural and sideline products;
economic information service; international trade; processing with imported
materials, processing with imported samples, assembling with imported parts,
and compensation trade in agreement; counter trade & transit trade; wholesale and retail of pre
packaged food |
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No. of Employees : |
50 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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, 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
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Source
: CIA |
Company
name and address
DALIAN EVERSHINE
INTERNATIONAL TRADE CO., LTD.
NO. 69 QIYI STREET, ZHONGSHAN DISTRICT, DALIAN
LIAONING PROVINCE 116001 PR CHINA
TEL: 86 (0) 411-82642906
FAX: 86 (0) 411-82806906
EXECUTIVE SUMMARY
DATE OF REGISTRATION : AUGUST 19, 1999
REGISTRATION NO. : 210200000057861
LEGAL FORM : LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE : ZHANG LIANHUI (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 5,000,000
STAFF : 50
BUSINESS CATEGORY : TRADING
Revenue : N/A
EQUITIES : N/A
WEBSITE : www.chinaevershine.com
E-MAIL : zhb@chinaevershine.com
PAYMENT : Unknown
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.14 = USD 1
Adopted abbreviations
(as follows)
SC - Subject Company (the company inquired by you)
N/A – Not available
CNY – China Yuan Ren Min Bi
OPERATIONAL
TREND & GENERAL REPUTATION
This section aims at indicating the relative positions of SC in respect of its operational trend & general reputation
Operational Trend:- General Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not known
Not known Not yet be determined
Not yet be determined
LEGAL
STATUS & HISTORY
SC was established as a limited liabilities company of PRC with State Administration of Industry & Commerce (SAIC) under registration No.: 210200000057861 on August 19, 1999.
SC’s Organization Code Certificate No.: 71691258-2
SC’s registered capital: cny 5,000,000
SC’s paid-in capital: cny 5,000,000
Registration Change Record:-
No significant changes of SC have been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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China National Packaging I/E Corporation |
18 |
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Li Jun |
2 |
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Jiao Hao |
10 |
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Zhang Lianhui |
37 |
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Qiao Wenli |
6 |
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Liu Yue |
6 |
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Yan Chen |
5 |
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Hua Yuxia |
2 |
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Xu Zhengding |
2 |
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Ouyang Yufei |
2 |
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Qu Ping |
2 |
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Yang Congli |
2 |
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Lin Xuemei |
2 |
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Sun Zaihe |
2 |
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Wang Ligong |
2 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and Chairman |
Zhang Lianhui |
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General Manager |
Li Jun |
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Director |
Liu Yue |
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Qiao Wenl |
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Jiao Ha |
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Zhu Ton |
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Yan Chen |
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Supervisor |
Yang Congli |
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Xu Zhengding |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name % of Shareholding
China National Packaging I/E Corporation 18
Li Jun 2
Jiao Hao 10
Zhang Lianhui 37
Qiao Wenli 6
Liu Yue
6
Yan Chen 5
Hua Yuxia 2
Xu Zhengding 2
Ouyang Yufei 2
Qu Ping 2
Yang Congli 2
Lin Xuemei 2
Sun Zaihe 2
Wang Ligong 2
China National Packaging I/E Corporation
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Date of Registration: July 2, 1992
Registration No.: 100000000000740
Chief Executive: Zhu Tong
Registered Capital: CNY 264,707,000
MANAGEMENT
Zhang Lianhui, Legal Representative and Chairman
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Gender: M
Qualification: University
Working experience (s):
At present, working in SC as legal representative and chairman
Li Jun General Manager
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Gender: M
Qualification: University
Working experience (s):
At present, working in SC as general manager
Director
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Liu Yue
Qiao Wenli
Jiao Hao
Zhu Tong (Also working in China National Packaging I/E Corporation as legal representative)
Yan Chen
Supervisor
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Yang Congli
Xu Zhengding
BUSINESS
OPERATION
SC’s registered business scope includes wholesale and retail of packaging materials, daily general merchandise, knitwear and textile, garments, mineral products, hardware commodities, metal materials, metal products, building decoration materials, mechanical and electrical products, communication equipment; purchase, wholesale and retail of aquatic products, livestock products, agricultural and sideline products; economic information service; international trade; processing with imported materials, processing with imported samples, assembling with imported parts, and compensation trade in agreement; counter trade & transit trade; wholesale and retail of pre packaged food.
SC is mainly engaged in international trade.
SC’s products mainly include:
Clothing & Textile
Bearings
Chemicals & Minerals
Packaging Materials
Etc.
SC sources its products 100% from domestic market, mainly Liaoning. SC sells 70% of its products in domestic market, and 30% to overseas market, mainly USA, Europe, Mid East, Southeast Asia, etc.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The payment terms of SC include T/T, L/C and Credit of 30-60 days.
*Major Customers:
==============
Knife Source LLC.
Devred SAS
C C Industires Inc.
Staff & Office:
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SC is known to have approx. 50 staff at present.
SC rents an area as its operating office, but the detailed information is unknown.
RELATED
COMPANY
SC is not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
Basic Bank:
China Merchants Bank Dalian Branch
Address: No. 17 Renmin Road, Zhongshan District, Dalian, Liaoning Province
Tel: 86 (0) 411-39853355
AC#:
411903708410901
FINANCIALS
The financials of SC is not available in local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered medium-sized in its line with a development history of 15 years. Taking into consideration of SC’s good background, credit up to moderate 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.61.11 |
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1 |
Rs.98.15 |
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Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIS |
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.