MIRA INFORM REPORT
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Report No. : |
319310 |
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Report Date : |
27.04.2015 |
IDENTIFICATION DETAILS
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Name : |
CHINA SDIC INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
No. 19 Huixin West Street, Chaoyang District, Beijing 100029 Pr |
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Country : |
China |
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Date of Incorporation : |
27.09.1984 |
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Com. Reg. No.: |
100000000002366 |
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Legal Form : |
OnePerson Limited Liability Company |
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Line of Business : |
Selling wholesaling prepackaged food and dairy products; purchasing
grains. International trade; selling, storage and transporting feed, primary
agricultural products, cotton, wool, hemp, silk, synthetic fiber &
chemical fiber, textiles, garments, daily necessities, petrochemicals
(excluding product oil), steel materials, nonferrous metal, building
materials, wood, chemical materials (excluding poisonous chemicals),
machinery equipment and components, hardware, household appliances,
electronic products, vehicle, motorcycle and parts; private housing leasing
and property management; technology transfer, communication, consultation and
services; investment and assets management; culture exchange. |
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No. of Employees : |
200 |
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) |
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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. In 2014 the People’s Bank of China (PBOC) doubled 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 2014 stood as the largest economy in the world, surpassing the US that year� 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; � 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
|
Source
: CIA |
Company
name & address
CHINA SDIC INTERNATIONAL TRADE
CO., LTD.
NO. 19 HUIXIN WEST STREET, CHAOYANG DISTRICT, BEIJING 100029 PR CHINA
TEL: 86 (0) 10-52021800/52021870
FAX: 86 (0) 10-52021871/52021872
EXECUTIVE
SUMMARY
Date of Registration : SEPTEMBER 27, 1984
REGISTRATION NO. : 100000000002366
LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
REGISTERED CAPITAL : CNY 1,500,000,000
staff :
200
BUSINESS CATEGORY : TRADE & INVESTMENT & MANAGEMENT
REVENUE :
N/A
EQUITIES :
N/A
WEBSITE : www.sdictrade.com
E-MAIL :
ctrc@ctrc.com.cn
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : fairly good
EXCHANGE RATE :
CNY 6.22 = 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 state-owned enterprise of PRC on September 27, 1984. However, SC changed
to present legal form, and was registered as one-person limited liabilities
company of PRC with State Administration of Industry & Commerce (SAIC)
under registration No.: 100000000002366 on December 23, 2008.
SC’s Organization Code Certificate No.:
10000236-1
SC’s registered capital: CNY 1,500,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
1998-11-4 |
Legal Representative |
Shen Kejian |
Chang Junchuan |
|
2000-9-29 |
Registered Capital |
CNY 26,100,000 |
CNY 244,090,000 |
|
2008-12-23 |
Registered Capital |
CNY 244,090,000 |
CNY 500,000,000 |
|
Legal Form |
State-owned enterprise |
One-person Limited Liability Company |
|
|
Company Name |
China Textile Resources Corp. |
China Textile Resources Co., Ltd. |
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|
2009 |
Company Name |
China Textile Resources Co., Ltd. |
China SDIC International Trade Co., Ltd. |
|
-- |
Registration No. |
1000001000236 |
100000000002366 |
|
Registered Capital |
CNY 500,000,000 |
cny 1,000,000,000 |
|
|
2013 |
Legal Representative |
Chang Junchuan |
Zhang Songlin |
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2014 |
Registered Capital |
cny 1,000,000,000 |
cny 1,200,000,000 |
|
2015-1-12 |
Registered Capital |
cny 1,200,000,000 |
CNY 1,500,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
State Development & Investment Corp. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Zhang Songlin |
|
General Manager |
Zhou Huayu |
|
Director |
Feng Sujing |
|
Cui Hongqin |
|
|
Shan Yonghua |
|
|
Guo Huiping |
|
|
Liu Zhiqiang |
|
|
Wang Wenjun |
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|
Zhang Liang |
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Supervisor |
Qi Weiren |
|
Zhang An |
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|
Zhang Dingyuan |
RECENT DEVELOPMENT
Honors:
In 1993, SC was named one of the “Top 100 State-owned Logistics
Companies in China”
In 1994, t SC was named one of the “Top 500 Logistics Companies in China”.
Since 1994, SC has been named “Outstanding Entity under the Central
Government of China” and “Outstanding Entity of Beijing” for many consecutive
times.
In 1995, SC was named one of the “Top 100 State-owned Logistics
Companies in China” in terms of comprehensive capacity.
In 1999, SC was named one of the “Top 500 Import/Export Companies in
China” and “National Class-A Companies”.
In 2000, SC was named one of the “Top 500 Companies in China in Terms of
Import/Export Volume”.
In 2005, SC was named one of the “Top 500 Service Providers in China”.
In 2010, SC was awarded two “Grade-II National Awards for Science and
Technology Progress” for two projects, one by its subsidiary Sinotex Investment
& Development Co., Ltd, and the other by China Tex Mechanical &
Electrical Engineering Ltd.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
State Development & Investment Corp. 100
==============
State Development & Investment
Corporation (SDIC) is the largest state-owned investment holding company in
China. Since its establishment, SDIC continuously improves its development
strategy, optimizes its assets composition, and has built its unique
tri-pillared business framework that integrates industrial investment,
financial services and state-owned assets management. SDIC’s industrial
investment mainly goes to power generation, coal mining, ports and shipping,
chemical fertilizer production and other infrastructure or resource-oriented
fields as well as high-tech projects.
Date of Registration: April 14, 1995
Registration No.: 100000000017644
Legal Form: State-owned
Enterprise
Registered Capital: CNY 19,470,510,000
Address: International Investment Plaza,6-6
Fuchengmen North Street, Xicheng District, Beijing
Tel: +86-10-8800 6880
Fax: +86-10-6657 9035
Website:
www.sdic.com.cn
MANAGEMENT
Zhang Songlin, Legal Representative and Chairman
-------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 50
Ø Qualification:
University
Ø Working experience
(s):
From 2013 to present, working in SC as legal
representative and chairman. Also working in Sinotex Investment &
Development Co., Ltd. as legal representative
Zhou
Huayu, General Manager
----------------------------------------------------
Ø
Gender: M
Ø
Age: 51
Ø Qualification:
University
Ø Working experience
(s):
At
present, working in SC as general manager
Director
-----------
Feng
Sujing
Cui
Hongqin
Shan
Yonghua
Guo
Huiping
Liu
Zhiqiang
Wang
Wenjun
Zhang
Liang
Supervisor
--------------
Qi
Weiren
Zhang
An
Zhang
Dingyuan
BUSINESS OPERATION
SC’s registered
business scope includes selling wholesaling prepackaged food and dairy
products; purchasing grains. International trade; selling, storage and
transporting feed, primary agricultural products, cotton, wool, hemp, silk,
synthetic fiber & chemical fiber, textiles, garments, daily necessities,
petrochemicals (excluding product oil), steel materials, nonferrous metal,
building materials, wood, chemical materials (excluding poisonous chemicals),
machinery equipment and components, hardware, household appliances, electronic
products, vehicle, motorcycle and parts; private housing leasing and property
management; technology transfer, communication, consultation and services;
investment and assets management; culture exchange..
SC is mainly
engaged in international trade, investment & management of its
subsidiaries.
SC’s products
mainly include: wool, terylene and acrylic, textile raw materials, cotton,
agricultural products.
SC is one of the
largest wool importers in China at present.
Imported
Agricultural Products:
Rapeseed meal
(mainly from India, Pakistan, Mexico and Canada)
Peanut meal (mainly
from India, Pakistan, Senegal and other African regions)
Soybean meal
(mainly from India, the United States, Brazil and Argentina)
Meat and bone meal
(mainly from Uruguay, Australia and New Zealand)
Fish meal (mainly
from Peru and Chili)
Flax seed (mainly
from India, Ethiopia and Canada)
Peanut oil (mainly
from Senegal)
Sunflower oil
(mainly from the Ukraine and Argentina)
Olive oil (mainly
from Turkey)
Castor seeds
(mainly from Ethiopia)
SC sources its materials 70% from domestic market, and 30% from overseas market, mainly Australia, New Zealand, EU, Africa and etc. SC sells 50% of its products in domestic market, and 50% to overseas market, mainly EU, America, Southeast Asia and etc.
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:
==============
Translink Grains Inc.
Agroindustrial Patagonia Limitada
Montaki Canada Inc.
*Major Suppliers:
==============
Northwest Grains International,
LLC.
Tuchok S.A.
(Ecuador)
Michell & Cia
S.A.
Staff & Office:
--------------------------
SC is known
to have approx. 200 staff at
present.
SC owns an area as
its operating office, but the detailed information is unknown.
RELATED COMPANY
SC is known to have following subsidiaries at present,
n
China Tex Mechanical & Electrical Engineering Research Institute
n
China Sdic International Trade Shanghai Company
n
China Sdic International Trade Nanjing Co., Ltd.
n
China Sdic International Trade Guangzhou Company
n
China Sdic International Trade Qingdao Company
n
Beijing Sinotex Raw Materials Co., Ltd.
n
Sinotex Investment & Development Co., Ltd.
n
Sinotex Investment & Development Co., Ltd.
n
China Textile Resources Shannxi Company
n
Chian SDIC International Trade (Tianjin) Co., Ltd.
n
Chian SDIC International Trade Central African Co., Ltd.
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’s suppliers
declined to make any comments.
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:
Industrial & Commercial Bank of China Hepingli Office
AC#: 0200004209002600468
China CITIC Bank
Olympic Village Sub-branch
AC#:
7111910182300000513
China Merchants
Bank Asian Games Village Sub-branch
AC#: 0782853210001
FINANCIALS
The financials of SC is not available in
local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered large-sized in its line with a development history of
31 years. Taking into consideration of SC’s favorable background and reputation,
credit up to moderate amount may be considered.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.68.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.