MIRA INFORM REPORT
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Report No. : |
319073 |
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Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI JT CHEMICAL TECHNOLOGY CO., LTD. |
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Registered Office : |
Unit 2210, Zhonghua Tower, No. 1701 West Beijing Road Shanghai 200040
Pr |
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Country : |
China |
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Date of Incorporation : |
09.01.2014 |
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Com. Reg. No.: |
310141000039117 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject includes technology development, technology
consulting, technology transfer, and technology services of chemical
technology; selling chemical products and raw materials, machinery and
equipment and accessories, instruments; importing and exporting goods and
technology. |
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No. of Employee : |
10 |
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 : |
Relatively new business |
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Payment Behaviour : |
No complaints |
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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
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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 AND ADDRESS
SHANGHAI JT
CHEMICAL TECHNOLOGY CO., LTD.
UNIT 2210, ZHONGHUA TOWER, NO. 1701 WEST BEIJING ROAD
SHANGHAI 200040 PR CHINA
TEL: 86 (0) 21-51572150
FAX: 86 (0) 21-51572150
EXECUTIVE
SUMMARY
Date of Registration : january 9, 2014
REGISTRATION NO. : 310141000039117
LEGAL FORM : Limited Liability Company
REGISTERED CAPITAL : CNY 300,000,000
staff : 10
BUSINESS CATEGORY : TRADING
Revenue : N/A
EQUITIES : N/A
WEBSITE : www.jt-chem.com
E-MAIL : export@xiangyuchem.com
PAYMENT : AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : average
EXCHANGE RATE : CNY 6.20 = 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 one-person limited liabilities company of PRC on January 9, 2014. However, SC changed to
present legal form, and was registered as a limited liabilities company of PRC
with State Administration of Industry & Commerce (SAIC) under registration
No.: 310141000039117 on March 9,
2015.
SC’s Organization Code Certificate No.:
090081843
SC’s Tax No.: 310141090081843
SC’s registered capital: CNY 300,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
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|
Legal Form |
One-Person Limited Liabilities Company |
Limited Liabilities Company |
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Shareholder (s) (% of Shareholding) |
Shanxi Xiangyu Chemical Industrial Co., Ltd. 100% |
Chen Zhanjiang 20% Yang Bo 80% |
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Registered Capital |
CNY 2,000,000 |
CNY 300,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Chen Zhanjiang |
20 |
|
Yang Bo |
80 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Yang Bo |
|
Supervisor |
Shi Xiaokang |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Chen Zhanjiang` 20
Yang Bo 80
MANAGEMENT
Yang Bo, Legal Representative, Chairman and General
Manager
--------------------------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
From 2014 to present, working in SC as legal
representative, chairman and general manager
Supervisor
--------------
Shi Xiaokang
BUSINESS
OPERATION
SC’s registered business scope includes technology development,
technology consulting, technology transfer, and technology services of chemical
technology; selling chemical products and raw materials, machinery and
equipment and accessories, instruments; importing and exporting goods and
technology.
SC is mainly
engaged in selling chemicals.
SC’s products mainly include:
RT BASE
Antioxidant IPPD
Antioxidant 6PPD
SC sources the products 100% from domestic market, mainly Shanxi. SC sells 100% of its products to overseas market.
The buying terms
of SC include Check, T/T and Credit of 30-60 days. The payment terms of SC
include L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is known
to have approx. 10 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
The bank
information of SC is not filed in SAIC.
FINANCIALS
Established as a new company in 2014, SC’s financials are not filed in
local SAIC..
CONCLUSIONS
SC is considered small-sized in its line with a short history. Taking
into consideration of SC’s good background, credit dealings with SC should be
confined into small amount at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
|
1 |
Rs.96.56 |
|
Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
ANK |
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 |
|
<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.