MIRA INFORM REPORT
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Report No. : |
318054 |
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Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI FOREIGN
TRADE ENTERPRISES PUDONG CO., LTD. |
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Registered Office : |
10-14/F, No. 258-268 Zhaojiabang
Road, Shanghai 200031 Pr |
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Country : |
China |
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Date of Incorporation : |
10.07.1992 |
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Com. Reg. No.: |
310115000002278 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject includes
importing and exporting various kinds of commodities and technology,
processing with imported materials, processing with imported samples,
assembling with imported parts, and compensation trade in agreement; counter trade & transit trade, economic and trade
consulting, domestic trade, enterprise registration agent. |
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No. of Employees : |
130 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
China |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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.
|
Source
: CIA |
Company
Name and Address
SHANGHAI FOREIGN TRADE ENTERPRISES PUDONG CO.,
LTD.
10-14/F, NO. 258-268
ZHAOJIABANG ROAD, SHANGHAI 200031 PR CHINA
TEL: 86 (0)
21-64333000
FAX: 86 (0)
21-64743340
EXECUTIVE
SUMMARY
Date of Registration : july 10, 1992
REGISTRATION NO. : 310115000002278
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY
10,000,000
staff :
130
BUSINESS CATEGORY : TRADING
Revenue :
N/A
EQUITIES :
N/A
WEBSITE : http://www.xse.cn/ www.shforeign.com
E-MAIL :
mailto:xse@xse.cninfor@shasft.com
PAYMENT :
AVERAGE
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.: 310115000002278.
SC’s Organization Code Certificate No.:
13220753-X
SC’s Tax No.: 31011513220753X
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 10,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registration No. |
3101151016674 |
310115000002278 |
|
Company Name |
Shanghai Foreign Trade Enterprises Corp.
Pudong Co. |
Shanghai Foreign Trade Enterprises Pudong Co.,
Ltd. |
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|
Legal Form |
One-person Limited Liability Company |
Limited Liabilities Company |
|
|
2005-2-22 |
Legal Representative |
Xia Dazhi |
Sun Dunming |
|
2005-10-28 |
Legal Representative |
Sun Dunming |
Xia Xiping |
|
2010-6-24 |
Legal Representative |
Xia Xiping |
Gao Wenwei |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Shanghai
Foreign Trade Enterprises Co., Ltd. |
50.00 |
|
Sun Dunming |
5.01 |
|
Zhang Yan |
3.13 |
|
Chen Ruilin |
2.51 |
|
Pan Wei |
2.51 |
|
Xu Jianhua |
2.51 |
|
Huang
Chamei |
2.00 |
|
Tang Bin |
2.00 |
|
Sang
Xiaping |
2.00 |
|
Xue Yanming |
2.00 |
|
Other 40
individuals |
26.33 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative
and Chairman |
Gao Wenwei |
|
General
Manager |
Sun Dunming |
|
Director |
Mao Yunchang |
|
Chen Ruilin |
|
|
Lu Xingying |
|
|
Pan Wei |
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|
Supervisor |
Cao Jianguo |
|
Chen Ling |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Shanghai Foreign Trade Enterprises Co., Ltd. 50.00
Sun Dunming 5.01
Zhang Yan 3.13
Chen Ruilin 2.51
Pan Wei 2.51
Xu Jianhua 2.51
Huang Chamei 2.00
Tang Bin 2.00
Sang Xiaping 2.00
Xue Yanming 2.00
Other 40 individuals 26.33
Shanghai Foreign Trade Enterprises Co., Ltd.
================================
Registration No.: 310104000019293
Establishment Date: March 1, 1988
Chief Executive: Gao Wenwei
Registered Capital: CNY 26,400,000
Add: 14/F, No. 258-268 Zhaojiabang Road,
Shanghai
Tel: 86-21-64333000
Fax: 86-21-64373111
Website: www.shforeign.com
Email: infor@shasft.com
MANAGEMENT
Gao Wenwei,
Legal Representative and Chairman
----------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification: University
Ø Working experience
(s):
From 2010 to present, working in SC as legal
representative and chairman
Also working in Shanghai Foreign Trade
Enterprises Co., Ltd. and Shanghai East Best Foreign Trade Co., Ltd. as legal
representative
Sun
Dunming, General Manager
------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as general manager
Director
----------
Mao Yunchang
Chen Ruilin
Lu Xingying
Pan Wei
Supervisor
--------------
Cao Jianguo
Chen Ling
BUSINESS
OPERATION
SC’s registered
business scope includes importing and exporting various kinds of commodities
and technology, processing with imported materials, processing with imported
samples, assembling with imported parts, and compensation trade in agreement; counter trade & transit trade, economic and trade
consulting, domestic trade, enterprise registration agent.
SC is mainly
engaged in international trade.
SC’s products
mainly include: cars, toy head pen or pencil, decoration, gift wrapping, toys,
and etc.
SC sources its
products 90% from domestic market, and 10% from overseas markets. SC sells 10%
of its products in domestic market, and 90% to overseas market, mainly Europe
and U.S.A.
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.
*Major Customers:
==============
Seaboard International
Inc.
Cristacryl De
Colombia S.A.
Staff & Office:
--------------------------
SC is known
to have approx. 130 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED
COMPANY
Shanghai East Best Foreign Trade Co., Ltd.
Shanghai World Expo (Group) Co., Ltd.
Shanghai East Best International Service Trade (Group) Co., Ltd.
Shanghai East Best International Business Development Co., Ltd.
Etc.
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:
Bank of China Shanghai Branch
AC#: 044036800100694008091001
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
22 years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.93.10 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
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Report Prepared
by : |
NIT |
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 |
|
|
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 |
|
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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 |
|
|
-- |
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.